Bank of Oswego - Oswego, NY

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: April 27, 1842
Location: Oswego, New York (43.455, -76.510)

Metadata

Model: gpt-5-mini
Short Digest: 72fdb038

Response Measures

None

Other: Article reports a multi-day specie run and fears of insolvency; no remedial measures or suspension reported.

Description

The single article (New York Herald, Apr 28, 1842) reports that the Bank of Oswego has been run for specie for several days and there is fear it will not hold out. No suspension, closure, reopening, or concrete cause is described, so classify as a run that did not (in this source) lead to suspension.

Events (1)

1. April 27, 1842 Run

Cause Details: Article simply reports heavy specie withdrawals ('run for specie') without identifying a specific trigger (rumor, correspondent failure, local shock, etc.).
Newspaper Excerpt: The Bank of Oswego has been run for specie for several days, and fears entertained that it will not hold out.
Source: newspapers

Newspaper Articles (1)

1. April 28, 1842 The New York Herald New York, NY

Article from The New York Herald, April 28, 1842

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Article Text

MONEY MARKET. Wednesday, April 27,-6 P. M. The Steck Market has been again better to-day, and prices have generally improved. Indiana 5's 1; Illinois 6's &; Mohawk 1; Harlem 1; Paterson d; New York 5's 1858 New York 61'8, 1861, d; sales of bills on Phildelp phia par aj; Baltimore par a 1; New Orleans 7 dis; Mobile 22 discount. The Bank of Oswego has been run for specie for several days, and fears entert ined that it will not hold out. The brokers are very caut ous of buying it, as also the Lewis County Bank; both safety fund. This has been bill day for the Great Western, which takes her departure to-morrow. The demand has been good and the transactions large, closing at the following rates, compared with those by previous packets.-