16975. West Branch Bank (Williamsport, PA)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
October 29, 1857
Location
Williamsport, Pennsylvania (41.240, -77.036)

Metadata

Model
gpt-5-mini
Short Digest
7717bdfff5457bc3

Response Measures

None

Description

Articles report that the presidents of several Pennsylvania banks, including the West Branch Bank (Williamsport), met and resolved that during the suspension of specie payments by banks of the Commonwealth they would not make arrangements to redeem notes in Philadelphia. This describes a suspension of specie payments (system-wide). The texts do not state a run, a closure, or a reopening; historically such suspensions were temporary, so I classify as suspension_reopening but note that reopening is not explicitly mentioned in these articles.

Events (1)
1. October 29, 1857 Suspension
Cause
Macro News
Cause Details
Broad suspension of specie payments by banks of the Commonwealth of Pennsylvania (system-wide suspension of specie redemption).
Newspaper Excerpt
At a Meeting of the Presidents ... at Williamsport, on the 29th ult., it was resolved that during the suspension of specie payments, by the Banks of this Commonwealth, they did not deem it expedient to make any arrangements ...
Source
newspapers

Newspaper Articles (2)
1. November 25, 1857 The Star of the North Bloomsburg, PA
Article from The Star of the North, November 25, 1857

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Article Text

At a Meeting of the Presidents of the Danville, Norihumberland, Lewisburg, West Branch, Lock Haven, and Jersey Shore Banks, at Williamsport, on the 29th ult., it was resolved that during the suspension of-specie payments, by the Banks of this Commonwealth, they did not deem it expedient to make any arrangements with the city Banks for The redemption of their notes, or suma of specie in Philadelphia to keep their notes at par.

2. November 25, 1857 The Star of the North Bloomsburg, PA
Article from The Star of the North, November 25, 1857

Click image to open full size in new tab

Article Text

At a Meeting of the Presidents of the Danville, Northomberland, Lewisburg, West Branch, Lock Haven, and Jersey Shore Banks, at Williamsport, on the 29th ult., it was resolved that during the suspension of specie payments, by the Banks of this Commonwealth, they did not deem it expedient to make any arrangements with the city Banks for the redemption of their notes, or sums of specie in Philadelphia to keep their notes at par.