Bank of Buffalo - Buffalo, NY

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: November 8, 1853
Location: Buffalo, New York (42.886, -78.878)

Metadata

Model: gpt-5-mini
Short Digest: 8b3c786d

Response Measures

None

Description

OCR-heavy article (1853-11-17) reports that the Bank of Buffalo was said to have suspended (mentions '8. Nov.' and 'Baltimore, suspenBank of Buffalo it is said'). Article discusses large loans to a railroad and the president, implying bank-specific adverse loans triggered trouble. No clear reporting of a depositor run or permanent failure or receivership; reopening/closure not reported, so I classify as a suspension with likely later resumption (suspension_reopening) but this is provisional due to lack of follow-up in the provided text. Corrected OCR fragments in snippet.

Events (1)

1. November 8, 1853 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Reports indicate heavy loans made to a railroad and to the bank's president; liabilities and large loans alleged to have impaired the bank leading to suspension.
Newspaper Excerpt: Baltimore, suspenBank of Buffalo it is said, and The Patching in consequent Buffalo the of Pailroad. Patchin, of the ded yesterday, loans made to president railpresident on and road, liabilities is its
Source: newspapers

Newspaper Articles (1)

1. November 17, 1853 Gallipolis Journal Gallipolis, OH

Article from Gallipolis Journal, November 17, 1853

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Article Text

has such West, failed. below We give as we In have. regard information the the rumor Bank about Southern the says: Journal Louisville Kentucky, from seems Kentucky Banks. an abour that Cincinnati has surd there rumor gained dispatcereulation in to of the the Kenregard solvency We best authorhave nevthan they tucky for Banks. saying that sound condition ity been in a more present time.' 8. Nov. er are at this Cincinnati, on the The notes Buffalo, Patchin, and are refused Tioga banks Owego here to day. 8. Nov. Baltimore, suspenBank of Buffalo it is said, and The Patching in consequent Buffalo the of of Pailroad. Patchin, of the ded yesterday, loans made to president railpresident on and road, liabilities is its There behalf. in to this the York bank, has is also assumed good the deal of exmatter. regard of this The failure anbeen citement Owego Bank. bank, which connected has ban- with the of ker New York. safety fund said to be Dwight, was of The Journal $200,000. on its nounced, suspension is of Henry Its capital Commerce which fund, safety is derely, It and is just says that the might in theory overdrawn. may possible some indemnity the of bank funct, the Legislature for the prove, billto they doubtless charters the holders, provide if the assets will, insufficient of most and of expired, the soon rest are deem as safety them. fund The will. banks No have such charters BANK. MASSILLON be will the what is not yet loss defi- to known nitely on the The Bank probaholders we the that holdthink,) ers cent. fifty per and them we bilities bill will are not (as realize we don't over for know that of sum. hear any amount has some body on them, that will buy rather rumors Mr. Dwight, for years, has used and The facts, to about or this: been the its principal circulastockholder, his in tion, business operations. $400,000 authorized that about $350,000 suspension. It was and it seems time of the $1,500,000 bills, out the Dwight has Enough liabilities be were It is said that in his hands. and leave a converted of discharge property his if they that could the Pitts- rub. $200,000 burgh large surplus, into cash. of But bonds of the and if possession, are they redeem returned, This cash. would He has road, in his the road leave from 8150 other sources. has The road of been using Chicago 200,000 the them with to be and the of the but what bank, amount company are at we not this the owes road time, informed. of the one was Bank assillon in has and old 1835, all the from without it for The banks, chartered rubs of the bending times to when the blast. one and that man, of the tor, control obtained that stood day But to this, one bad day stock its specula- means, his its and suit purshaped policy poses. sufficient to the bill collateral protect is the and safest security, A deposit holder, as best plan. of we our those advise Meanwhi who have money, readers, Massillon on hold for Don't few days. the too deep shave brokers your Journal. OF The BANK Cleveland of says: Herald evening Saturday the With give informapleasure tion from banker received Cleveland Mr. New that from York, just returned he that had stated sufficient Dwight to all his and pay liabilities, to time soon had them make would dollar every redeem available, We bills. the of of Bank Massillon's a to heavy not-to advise holders submit the them hands brokers. shave upon We Clinton surprised Bank.be that any body should Thumbugged the into the that belief Bank Clinton in body Every Columbus has failed. be There knows false. a it. not for The bank foundation of our busihas the confidence is it, no There upon ness men. any susjustify exciteme nothing of its The pictons character solvency. of its that rumor managers this We sort here. gains credence in the are the banks country Ohio State equally Journal. We see that stated committee, the by Chamber Cincinnati the subject, examine that the body, report amending of the the Banks Bank of of The Bank Planters' of the and TenBank Union Tennessee, the of the Inthe notes essee, same &c., They Banks. Kentucky, is and there safe, to do the legiticurrency