Merchants Bank - New York, NY

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: December 3, 1881
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: 134d1b0a

Response Measures

None

Description

Article (Press and Daily Dakotaian, 1881-12-06) reports Merchants Bank in New York had been in receivership/failed and that the directors agreed to contribute $1,000,000 to pay creditors and revive the bank; if creditors accept and sums are paid promptly the bank 'will then resume under the old name.' No explicit bank run is described. I infer a suspension/failure with a planned reopening, so classification is suspension_reopening. Date taken from article (Dec. 3, 1881).

Events (1)

1. December 3, 1881 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank had been placed in receivership/failed; directors propose payment of $1,000,000 to pay creditors and revive the bank (solvency/creditor settlement issue).
Newspaper Excerpt: The directors to the Merchants bank have agreed the of $1,000,000 towards paying and reviving the ... If the sums will be paid in immediately ... will then a resume under the old name.
Source: newspapers

Newspaper Articles (1)

1. December 6, 1881 Press and Daily Dakotaian Yankton, SD

Article from Press and Daily Dakotaian, December 6, 1881

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Article Text

Dec. 0.00 e City of Mexico, Saturday to murder Governor The was made Ledo of Gurna Juanto. would-be-nessassin Manuel was instigated by political enemies. Dec. 3.-The Missouri land Pittsburg, of Burns Bros., for stealing States fraud cases million nores of United Pa. lands several are now on trial at Ciarion, Dec. 3.--It is reported relieve arNewark, have been made to national rangements creditors of the Mechanic's revive the bank by partial payment and to the bank. Dec. s.-Weeks has made Pa- a Boston, to the examiners of the to the proposition bank, which was referred citic comptroller, and upon his reply depends the action of the-bank. Dec. 3.-A reception was ten- and Chicago, to night to Mesers. Healey dered prominent Irishmen. The affair O'Connor, was emi-private and very cordial. Iowa City: Dec. 3.-Delegates to Rap- the dairy association at Cedar Iowa national and lending citizens came to citiids on a special train. The City the visitors in zeus them, and banqueted to-day received escorted fine oil, style, them pathe glass, glucose. Hour, through outmeal and other manufactories per, the state university and schools. and and visitors departed at 3 o'clock of The presented with 100 copies an were edition of the Evening Republi- of the extra containing IL full report was R can, of the day. The affair Athevents one throughout. and the ens pleasant of Iowa treated their guests royally. Spencer, Iowa, December 3-Mr. north- Curfarmer living about six miles tis, a of this place, while out hunting himself. this west alternoon, accidentally shot himself it pulling his gun towards In some means discharged, lodging but a was the by in his bowels. He lived Mr. Curtis leaves a short load time. directors family New York, December 3--The to the Merchants bank have agreed the of $1,000,000 towards paying and reviving the will publicly announce contribute directors creditors bank. their The per willingness to pay the creditors than a on their dues larger receiver. any centage could be hoped from the offerthat creditors accept the amount If the sums will be paid in immediate- bank ed and the full receipt taken. The name. ly will then a resume under the old Dec. 3--The Denver's Duran- days Denver, special says four men Silverton several and go left Ophir to walk to in the ago it is behaved perished in the snow range. A party is searching. Dec. 3-The election of mem- off Quebec, of the local legislature passed bers The present conservative increased gov- maernment quietly. is sustained by an ment were elected. jority. All the members of the governLas Vegas, Dec. 8.--Seven prisoners, John J. Webb, under life senincluding for murder, and Davis Rudabaugh, tence from jail here this morning. notorescaped Rudabaugh was a member of the senBilly the Kid gang, and was tenced ious to hang for murdering the jailor in the attempt to release Webb. New York, Dec. 3-J. L. Berg & Co., wholesale drugs, assigned. Liabilities $200,000; assets reported Lunt, large. about Lunt Bros., ship chandlers. and Lock & Co., commission merchants, suspended. Liabilities, $100,000. Philadelphia, Dec, 3.-The trouble Dav- beAnna Dickinson and Fanny of tween growing out of the failure enport, American Girl," culminated this even by an effort to serve a writ upon ing Miss Davenport, while the latter The was the part of Lady McBeth. officer jumped from ium the stage with tho writ, sheriff's acting to the but auditor- was immediately ejected by the employes. the audience. Miss Davenport made an explanation to After the performance she remained in the theatre until after to midnight, the officer being unable serve the writ legally on Sunday. Boston, December 1-A special engine. New caboose running west on the colliYork with a and New England railraoad with the east bound local passenger of ded from Putnam about a mile east The train Thompsons Corner this afternoon. orand caboose were on special other engine to keep out of the way of the been ders but the orders seem to have trains and the special proceeded on forgotten trains' time. W. P. Harrington, Conductor other Albert Clark and the engin- and the special train were killed the eer of fireman badly bruised. On the passenger train a number were wounded.