Articles (June 21–22, 1849) report that the Bank of Erie had previously suspended operations and is now about to open an agency in Philadelphia to redeem its notes at par and will recommence shortly. No mention of a depositor run; cause of the original suspension is not stated in these items. OCR corrections: Eric Bank -> Erie Bank; agenin/ageny -> agency.
Events (2)
1.June 21, 1849Reopening
Newspaper Excerpt
the Bank of Erie is about to open an agency in Philadelphia for the redemption of all its notes at par. The bank will also recommence shortly - having ... redeemed all the promises made by Mr. Reed, the President, at the time of the bank's suspension.
Source
newspapers
2.*Suspension
Cause Details
Previous suspension is referenced but no cause or triggering event is given in the articles.
Newspaper Excerpt
the time of the bank's suspension
Source
newspapers
Newspaper Articles (2)
1.June 21, 1849Jeffersonian RepublicanStroudsburg, East Stroudsburg, Milford, PA
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Article Text
Good News---the Eric Bank. The Germantown Telegraph learns officially, that the Bank of Erie is about to open an agenin Philadelphia for the redemption of all its notes at par. The Bank will also recommence shortly-having by the above notice redeemed all the promises made by Mr. Reed, the President, at the time of the bank's suspension.Last week its notes sold at a discount of only 10 per cent; and this announcement will nat. urally reduce the discount still more, until the redemption is once commenced, when they will no doubt be as good as the generality of the h.western notes of this State.
2.June 22, 1849The Lancaster GazetteLancaster, OH
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Article Text
ERIE BANK NOTES-The Hanover (Pa.) Spectator authounces officially that the Bank of Erie is about to open an agency in Philadelpha for the redemption of all its notes at par. The bank will also recommence operations shortly-having, by the above honorable movement, says the Spectator, redeemed all the promises made by Mr. Reed, the president, at the time of the bank's suspension. Last week its notes sold at a discount of only ten per cent.
