Richard Schell - New York, NY

Bank Information

Episode Type: Suspension → Closure
Bank Type: private
Start Date: July 10, 1854
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: 8bfa2987

Response Measures

None

Description

Article (dated July 10, 1854) reports that Richard Schell 'has suspended' after large endorsements (for Schuyler about $750,000). No mention of a depositor run or reopening; suspension is reported as a failure. I classify as suspension_closure because the piece reports suspension with an adverse bank-specific cause; no evidence of reopening is given. If later sources show reopening, this would need revision.

Events (1)

1. July 10, 1854 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Large endorsements for Schuyler (~$750,000) strained Schell's position and led to suspension.
Newspaper Excerpt: Richard Schell ... has suspended. He has endorsed for Schuyler to the amount of $750,000.
Source: newspapers

Newspaper Articles (1)

1. July 14, 1854 Indiana American Brookville, Indianapolis, IN

Article from Indiana American, July 14, 1854

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Article Text

HEAVY FAILURES. NEW YORK, July 10. Richard Schell, a large negotiator and loan discounter for the Schuylers, has suspended. He has endorsed for Schuyler to the amount of $750,000. Dellany, Islen, & Clark, one of the heaviest banking houses in Wall street, suspended payment to-day.