Exchange Bank - New York, NY

Bank Information

Episode Type: Run → Suspension → Unsure
Bank Type: state
Start Date: October 13, 1857
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: 911747e9

Response Measures

Full suspension

Other: Policemen stationed to preserve order during runs.

Description

Article (Mineral Point Tribune, Oct 20, 1857) reports a general run on Wall Street banks and lists Exchange among banks that suspended on Oct 13, 1857. The report does not state whether Exchange later reopened or closed permanently, so outcome is uncertain. Cause appears to be a broad panic (Panic of 1857 / general run), not a discrete misinformation event.

Events (2)

1. October 13, 1857 Run

Cause: Macro News
Cause Details: General run on Wall Street banks / broad financial panic (Panic of 1857) causing heavy withdrawals.
Measures: Policemen are stationed at many of the Banks to preserve order.
Newspaper Excerpt: There is a general run on the Wall street Banks, and intense excitement in the street.
Source: newspapers

2. October 13, 1857 Suspension

Cause: Macro News
Cause Details: Suspension listed among multiple Wall Street banks on same day amid the general run/excitement; suspension appears driven by systemic panic rather than bank-specific failure.
Newspaper Excerpt: The following banks have suspended to-day: Marine, Ocean, Merchants, Exchange, N. Y. Exchange, North River, ...
Source: newspapers

Newspaper Articles (1)

1. October 20, 1857 Mineral Point Tribune Mineral Point, WI

Article from Mineral Point Tribune, October 20, 1857

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Article Text

Boston, Oct. 13. The suspension of Messrs. Geo. T.& W. P. Lyman, commission merchants on State street is announced. New York, Oct. 13. The following banks have suspended to-day: Marine, Ocean, Merchants, Exchange, N. Y. Exchange, North River, Irving, Citizens. Chatham, Bulls-Head, St. Nicholas and Market Banks. There is a general run on the Wall street Banks, and intense excitement in the street.— Policemen are stationed at many of the Banks to preserve order.