16625. Tradesman's Bank (New York, NY)

Bank Information

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

Metadata

Model
gpt-5-mini
Short Digest
2970eb03

Response Measures

Full suspension

Description

Multiple contemporaneous papers list Tradesman's Bank among the banks that suspended on Oct. 13, 1857. Several articles describe heavy runs/besieging crowds on New York banks at the same time, indicating a run precipitated suspension. Later lists (Nov. 1857) continue to list the bank as suspended, with no reopening reported in these items.

Events (2)

1. October 13, 1857 Run
Cause
Rumor Or Misinformation
Cause Details
Contemporaneous reports describe widespread panic and besieging crowds and 'rumors' and alarm spreading among depositors; no specific solvency scandal cited for Tradesman's Bank.
Measures
None specific to Tradesman's Bank mentioned in these articles; banks generally closed doors and posted 'This bank has suspended.'
Newspaper Excerpt
the banks were literally besieged ... crowds ... a Meavy run was being made on the other Banks
Source
newspapers
2. October 13, 1857 Suspension
Cause
Local Banks
Cause Details
Numerous New York banks suspended the same day amid a contagion of failures and runs; suspension appears driven by the local banking crisis and runs on multiple banks rather than a single bank-specific insolvency.
Newspaper Excerpt
Three more banks, the Tradesman's, the Market, and the St Nicholas, have suspended.
Source
newspapers

Newspaper Articles (7)

Article from Smyrna Times, October 14, 1857

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Article Text

Yesterday's telegraph dispatches from New York to the Philadelphia Bulletin, say, that sixteen Banks of that city had suspended --two of them, the American Exchange and Tradesman's Banks, very heavy concerns. A Meavy run was being made on the other Banks, and business generally was stagnant. In this State the Legislature has no power to legalize suspension, and the Banks must go into liquidation. At the latest accounts nothing had been done by the extra session of the Pennsylvania Legislature, for the relief of the Banks.


Article from Nashville Union and American, October 14, 1857

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NEW YORK, Oct. 12-Cotton quiet; flour dull; wheat firm; corn hard and heavy; mess pork 22 30; whisky 20a21. Edward N. Archibald is appointed British Consul here. The sailing of the Atlantic is postponed to the 24th inst. WASHINGTON, Oct. 12.-U.S Stocks redeemed at the Treasury to-day amount to three quarters of a million. The Bowery and Savings' Banks of New York received $607,000. The entire amount redeemed is three millions A half million is now out. NEW YORK, Oct. 12.-The Bank statement shows an increase of specie of $76,000; decrease in louns four million and eighteen thousand; decrease in circulation 395,000; decrease in deposits four million six hundred and seventy-seven thousand. ST. LOUIS, Oct. 18.-Gen'l Smith convenes a court martial at Fort Leavenworth on the first of November for the trial of Col. Summer. The charges are not stated. The Legislature of Missouri meets Monday. There is confidence that provision will be made to pay the interest on the State debt in January next. NEW YORK, Oct. 13.-The steamer Empire City, hence to Fall River, Mass., struck the rocks at Hell Gate and returned leaking. Her passengers, freight and baggage were saved. The steamers Commodore and Matomoras collided in Hudson river. The latter sunk; all but eight passengers saved. NEW YORK, Oct. 18.-Nothing doing in freight or exchange. Business unsettled; money tighter; affais gloomy. RICHMOND, Va., Oct. 13.-The Custom House here was entered by robbers and $15,000 in double eagles taken away. The robbers left $46,000 behind. NEW YORK, Oct. 13.-The following banks of this city suspended this morning: The Marine, Pacific, Irving, Merchant's Exchange, North River, New York Exchange, Citizens, and Ocean Bankeight inall. NEW YORK, Oct. 13.-E. Fish & Co. and Brown & Cain have suspended. The Chatham and Bullhead banks suspended. NEW ORLEANS, Oct. 13.-The Granada, with Havana dates of the tenth, has arrived. The Northern Light takes a million and a quarter in specie. The Granada experienced a gale on the 3d and 4th. She afterwards saw a wreck, but could not make out the name. California.-Weller's majority over both candidates is eleven thousand. The Legislature is margely Democratic. Bates, the ex-treasurer and Rowe, his clerk, have both been com mitted to jail in default of bail. Chief Justice Murray is deae. FATAL DUEL. Col. Casey, of Tennessee, was killed in & duel with Mr. Blair. The overland mail from San Antonia, Texas, reached San Diego on the 31st of August-all well. A report of the assassination of Alvorez, at Colina, Mexico, reached San Francisco. Disturbances occurred near the boundary of Lower California between the Americans and authorities. A Company is fitting out at San Diego to assist the Americans. It is considered a filiburster movement. It is reported that Gov. Castro, of Lower California, is fearing a revolution. His own people having joined the Americans. Slight shocks of an earthquake was felt near San Francisco. The Constitutional Convention of Oregon was in session. Slavery was slightly agitated. California markets dull. Accounts trom the mines are good. Peru-The English and French fleets have left the Chincha Islands, placing them on the mercy of Vivanco. The murderer of Sullivan has been discovered to be a hired bravado. He has not u arrested. His employers are unknown. Nothing important from Central America. NEW ORLEANS, Oct. 13-The Louisiana Savings bank has suspended. It was a small affair. A meeting of the merchants is being held tonight. Cotton sales 3000 bales-still lower, 91a10; Stock 109,000 bales; decrease in receipts 88,000 bales decrease at all ports 130,000 bales. No movement in Exchange affairs are gloomy and depressed. The news of suspensions in New York caused an uneasy feeling. Gen. Henningsen arrived to-day. Gen. Walker's movements will probably be determined on in a day or two. NEW YORK, Oct. 13-Additional bank suspensions, Market, St. Nicholas, Tradesman's, Artizan's, Butchers and Drovers, and the Bank of New York. It is feared that a general suspension is inevitable. Several of the old Banks announce their ability and determination to pay spicie. BOSTON, 18.-George T. and W. P. Lyman, China merchants, have suspended. HARRISBURG Pa Oct. 13-The relief bill as passed by the House fixes the third of April next for resumption. NEW YORK, Oct. 18-Cotton quiet; flour $4,25a 4,55; wheat-white $1,20a1,35; red $1,10a1,20; corn heavy; mess pork $22,25; lard advanced 1c.; whisky 20c; Tobacco 8 to 17c. CINCINNATI, Oct. 13-Flour unchanged; oats 30c.; Whisky 14a14}c. Business is neglected, on account of the news from New York. What it is doing fr the Sick.-The Editor of the Kittanning Free Press says: " After one of the best Physicians in this place had failed, BORHAVE'S HOLLAND BITTERS cured me of the worst form of Dvspepsia." FRANCIS FELIX, only manufacturer of the original "Extr et of Coffee," says: "I know that your Holland Bitters is one of the best medicines in the world for disordered stomach or liver." Dr. Ludwig, Editor of the'Packel,' Baltimore, pronounces it a me licine deserving the confidence of the public. Dr EHRHART, the leading German Physician of Pennsylvania, has prescribed it frequently during the last three years, with markod success, in debilitated states of the di gestive organs, or of the system generally. The Manager of Ballou's Vinegar Factory, says: "I used it myself, and was therefore in duced to try its effect upon my wife (troubled with the debility common toall of a con


Article from Semi-Weekly Standard, October 17, 1857

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More Suspensions, dc. NEW YORK, Oct. 13.-E. Fish & Company, Brown & Casey, merchants; also the Chathain and Bull's Head Banks have suspended The Marine Bank stopped by an injunction of its customers. It is presumed the others were stopped in the same manner. By this means the penalty of winding up, which attaches to suspension, is evaded; and it is rendered probable that suspension in most cases will only be temporary. This understanding relieves excitement. Three more banks, the Tradesman's, the Market, and the St Nicholas, have suspended. BOSTON, Oct. 18.-Lyman & Brothers, china merchants have suspended.


Article from Weekly North Carolina Standard, October 21, 1857

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Article Text

More Suspensions, &c. NEW YORK, Oct. 13.-E. Fish & Company, Brown & Casey, merchants; also the Chatham and Bull's Head Banks have suspended The Marine Bank stopped by an injunction of its customers. It is presumed the others were stopped in the same manner. By this means the penalty of winding up, which attaches to suspension, is evaded; and it is rendered probable that suspension in most cases will only be temporary. This understanding relieves excitement. Three more banks, the Tradesman's, the Market, and the St Nicholas, have suspended. BOSTON, Oct. 13.-Lyman & Brothers, china merchants have suspended.


Article from The Burlington Weekly Hawk-Eye, October 21, 1857

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Suspension of Eighteen Banks--Resólusion of others to Suspend. [From the New York papers of Wednesday.| Since the financial crisis has been upon us the city has not passed through so severe an excitement as was witnessed yesterday. At an early hour in the day rumérs were rife that several of the city banks had Buspended, and immediately the vicinities of the different institutions mentioned, and in fact of all the banks in the city, were surrounded with anxious and alarmed crowds, whose excitement was not allayed by seeing the omisous ammouncement ou the doors of the closed banks, "This bank hassuspended." Wall street in particular exhibited a scene which it had not presented since the terrible times of 1837. The banks were literally besieged, not alone by those particularly interested but by multitudes of idlers and alarmists.To such an extent did this reach that the aid of the police had in some instances to be called in to enable the clerks to transact business. On the street the panic manifested steelf in thousands of alarmed faces either passing burriedly along from bank to bank, or gazing in silent stupor from the opposite side walks at the crowds accending and descending the steps of the banking houses upon which the excitement seemed to concentrate. It may be hardly necesmry to my that much of this alarm was needless; but when we look at the notual number of banks which suspended during the day-irrespective of the vague rumors with reference to others flying around through an already over excited community-it is no wonder that the equanimity of the city should have been 80riously disturbed. The banks which closed yesterday are as follows:-North River Bank, Ocean Bank, Irving Bank, Merchant's Exchange, New York Ex. change, Citizens Bank, Marine Bank, Market Bank, Chatham Bank, Tradesman's Bank, St. Nicholas Bank, Butchers' s Drovers Bank, People's Bank, Bull's Head Bank, New York Bank, Leather Manufacturers' Bank, Artisans' Bank, and Broadway Bank. The Banks is Greenwich street closed their like mildfit --


Article from The Spirit of Democracy, October 28, 1857

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List of Suspended, Depreciated and Discredited Banks. Leather Manufacturers' Bank, New York City; Hudson County Bank, Jersey City; Broadway Bank New York City; People's Bank New York City; Bank of New York; Farmer's Bank, Petersburgh, Va; Union Bank, New Orleans; Marine Bank, N. Y. City; Tradesman's Bank, " " " " Artisan's Bank, Butcher's and Drover's Bank, New York city; Market Bank, New York City; " " St. Nicholas Bank, " " Pacific Bank, " " " " Irving Bank, " Merchants Exchange," " " North River Bank, " New York Exchange," " " Citizens' Bank, " " Ocean Bank, " " Chatham Bank, " " Bull's Head Bank, " " East River Bank, Pratt Bank, Buffalo, New York, Belleville Bank, Illinois; " Bank of Chester, Stock Security Bank, Illinois; " Corn Exchange Bank, Bank of Pike County, " State Bank of South Caaolina, Charleston;


Article from The Spirit of Democracy, November 18, 1857

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THE SPIRIT OF DEMOCRACY List of Suspended. Depreciated and Discredited Banks. Leather Manufacturers' Bank, New York City; Hudson County Bank, Jersey City; Broadway Bank New York City; People's Bank New York City; Bank of New York; Farmer's Bank, Petersburgh, Va; Union Bank, New Orleans; Marine Bank, N. Y. City; Tradesman's Bank, " " Artisan's Bank, " " Butcher's and Drover's Bank, New York city; Market Bank, New York City; St. Nicholas Bank, " " Pacific Bank, " " Irving Bank, " " Merchants Exchange," " North River Bank, " " New York Exchange," " Citizens' Bank, " " Ocean Bank, " " Chatham Bank, " " Bull's Head Bank, " " East River Bank, " " Pratt Bank, Buffalo, New York, Belleville Bank, Illinois; Bank of Chester, " Stock Security Bank, Illinois; Corn Exchange Bank, " Bank of Pike County, " Woodsfield Retail Market [Corrected weekly by Sinclair & Baker.] WOODSFELD Nov. 17, '57. Flour per barrel, - - - - - - $5,00 Wheat per bushel, - - - - - - 70 Oats per bushel, - - - - - - 25 Corn per bushel, - - - - - - 37 Lard per pound, - - - - - - 10 Rice per pound, - - - - - - 9 to 10 Candles per pound, - - - - - - 18 Tallow per pound, - - - - - - 12 Salt per barrel, - - - - - - 3,00 Hams per pound, - - - - - - 8 Shoulders per pound, - - - - - - 7 Corn meal per bushel, - - - - - - 37 Eggs per dozen, - - - - - - 6 Tea per pound, - - - - - - 75 to 1,00 New Orleans Sugar per pound, - - - - - - 14 Molasses per gallon, - - - - - - 70 Rio Coffee per pound, - - - - - - 15 Java Coffee per pound. - - - - - - 18 Hay per ton - - - - - - 8,00 Fish per pound, - - - - - - 10 Nails 8d. 9d. and 10d. 5½ and 6¼ Brooms per dozen, - - - - - - 2,00 Onions per bushel, - - - - - - 50 Timothy seed per bushel, - - - - - - 2,50 Butter per pound, - - - - - - 15 Potatoes per bushel - - - - - - 25 TO TEACHERS. THE Board of Examiners of Monroe County, Ohio, will, for the purpose of examining Teachers and granting Certificates to those found qualified, hold meetings in the Woodsfield Union School, on each of the following days, viz: Saturday, 24th Oct. at 8 o'clock A. M. " 7th Nov. " " " 21st " " " 5th Dee. " " " 19th " " The examination will commence each day precisely at 8 o'clock, A. M., and Teachers not present at that hour, will not be examined. By order of the Board. JOHN MOORE, Clerk. Woodsfield, Sept. 23, 1857. Sunfish Machine Shop. WILLIAM LITTEN, Proprietor. THE undersigned has purchased the whole of the Sunfish Machine shop, and Blacksmith shop heretofore managed by Kiernan and McBride. He is prepared to do any and all kinds of work in the very best style, and at moderate prices. This establishment has a reputation equalled by none other in the county. Oct. 28, 1857. WM. LITTEN. Notice