Pequonnock National Bank - Bridgeport, CT

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 928
Charter Number: 928
Start Date: July 27, 1867
Location: Bridgeport, Connecticut (41.167, -73.205)

Metadata

Model: gpt-5-mini
Short Digest: 5254262f

Response Measures

None

Description

Contemporary newspaper lists (Aug 1867) state the Pequonnock National Bank suspended business in July 1867 after its cashier, W. Hamilton Barnum, absconded with $50,000; a $500 reward was offered. The reports do not explicitly state a reopening; given the large embezzlement and immediate suspension, I classify this as suspension_closure while noting the final disposition is not reported in these excerpts.

Events (3)

1. March 23, 1865 Chartered

Source: historical_nic

2. July 27, 1867 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Cashier W. Hamilton Barnum absconded with approximately $50,000; bank suspended business and offered $500 reward.
Newspaper Excerpt: The Pequonnock National Bank of Bridgeport, Connecticut, suspended business and offered a reward of $500 for the fugitive cashier, W. Hamilton Barnum, who absconded with $50,000.
Source: newspapers

3. December 3, 1913 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (2)

1. August 1, 1867 The Evening Telegraph Philadelphia, PA

Article from The Evening Telegraph, August 1, 1867

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Article Text

Currency and the National Banks. The following list embraces some of the suspensions and failures of National Banks since January, 1867:March 2.-The National Bank of Newton, Mass., failed with liabilities amounting to $110,000. March 2.-The National Bank of Hudson, N. Y., discovered an embezzlement by the cashier to the amount of $50,000. The concern revived after several weeks' suspension, and resumed business. March 4.-First National Bank of Medina, Mo., failed with liabilities of $82,000. March 4.-The Mechanics' National Bank of Baltimore broke down from the effects of a series of defalcations, carried on for a long time by two officers of the institution. July 25.-The Weedsport (Cayuga county) National Bank closed doors, its liabilities being $125,000. July 26.-The National Bank of Unadilla, Otsego county. failed, its liabilities being $200 000. July -The Pequonnock National Bank of Bridgeport, Connecticut. suspended business, and offered a reward of $500 for the fugitive cashier, W. Hamilton Barnum, who absconded with $50,000. In the above brief statement the reasons for the difficulties of the National Banks in question are too lamentably obvious to need further comment.-N. Y. World.

2. August 9, 1867 The Daily Phoenix Columbia, SC

Article from The Daily Phoenix, August 9, 1867

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Article Text

CURRENCY AND THE NATIONAL BANKS.-The following list embraces some of the suspensions and failures of National Banks since January, 1867: MARCH 2.-The National Bank of Newton, Massachusetts, failed, with liabilities amounting to $110,000. The National Bank of Hudson, New York, discovered an embezzlement by the cashier to the amount of $50,000. The concern revived after several weeks suspension, and resumed business. MARCH 4.-First National Bank of Medina, Missouri, failed, with liabilities of $82,000. The Mechanics' National Bank of Baltimore, broke down from the effects of a series of defalcations, carried on for a long time by two officers of the institution. JULY 25.-The Weedsport (Cayuga County) National Bank closed doors, its liabilities being $125,000. JULY 26.-The National Bank of Unadilla, Otsego County, failed, its liabilities being $200,000. JULY 27.-The Pequonnock National Bank of Bridgeport, Connecticut, suspended business and offered a reward of $500 for the fugitive cashier, W. Hamilton Barnum, who absconded with $50,000.