17302. South Western Rail Road Bank (Charleston, SC)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
private
Start Date
November 28, 1860
Location
Charleston, South Carolina (32.777, -79.931)

Metadata

Model
gpt-5-mini
Short Digest
c196bc047a980def

Response Measures

None

Description

Articles (Nov 28, 1860) report a meeting of Charleston banks in which the South Western Rail Road Bank resolved to suspend, and accordingly suspended. No mention of depositors' run, receivership, or later reopening/closure in the provided clippings. I classify as suspension_reopening as the articles describe a coordinated suspension tied to political/secession-related turmoil (macro news); there is no evidence of a run or of permanent failure in these excerpts. Bank charter type unclear from name/clip, so set to unknown.

Events (1)
1. November 28, 1860 Suspension
Cause
Macro News
Cause Details
Coordinated suspension amid secession-related political turmoil and rumors (troop movements, anxiety after Lincoln's election).
Newspaper Excerpt
Finally, the Bank of the State, the Bank of South Carolina, South Western Railroad Bank, and the State Bank, resolved to suspend, and accordingly suspended.
Source
newspapers

Newspaper Articles (2)
1. November 29, 1860 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, November 29, 1860

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Article Text

[By Telegraph.] SOUTH CAROLINA. CHARLESTON, Wednesday, Nov. 28, 1800. Sèveral candidates for the Convention of South Carofina, over their signatures, repudiate any Free State joining the Southern Confederacy. A meeting of the Directors of the several banks of this city was held this morning. The subject of suspension was agitated. Finally, the Bank of the State, the Bank of South Carolina, South Western Railroad Bank, and the State Bank, resolved to suspend, and accordingly suspended. The four others, the Bank of Charleston, the Union Bank, People's Bank, Planters' and Mechanics', determined to still hold out. It is generally supposed they will all suspend to-merrow, except the Bank of Charleston. There is great rejoicing among the community at suspension. A rumor that six hundred government troops were coming on the steamer James Adger to man the harbor forthwith, created a feverish excitement throughout the city to-day. Knots were gathered on every corner discussing hat should be done. On the receipt of R telegraphic-contradiction of the rumor, the excitement subsided. Thereadats of the Kentucky Military Academy have unanimously tendered their services to Gov. Gist.

2. December 1, 1860 Richmond Daily Whig Richmond, VA
Article from Richmond Daily Whig, December 1, 1860

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Article Text

MOVEMENTS IN CALIFORNIA. SAN FRANCISCO, Nov. 17, 1860. The people of California are waiting with deep anxiety for the Eastern news showing the disposition of the Southern States on the dissolution question. After learning of Lincoln's election, all political animosities greatly moderated, the Republicans, as well as Democrats, seeming to be fearful of serious trouble from the present nolitical condition of the nanning The Sacramento Standard, organ of the Breckinridge Democracy, assumes that the dissolution of the Union is inevitable, and urges California and Oregon to seriously consider the question of organizing a separate republic on the Pacific coast. The idea seems to obtain little sympathy, and is denounced by a large portion of the press. SUSPENSION OF THE CHARLESTON BANKS. CHARLESTON, Nov. 28, 1860. A meeting of the directors of the several banks of this city was held this morning. The subject of suspention was agitated. Finally the Bank of the State, the B ink of South Carolina, Southwestern Railroad Bank and the State Bank resolved to suspend, and accordingly suspended. The four others-the Bank of Charleston the Union Bank, People's Bank, Planter's and Mechanics'-determined to still hold out. It is generally supposed they will all suspend to-morrow, except the Bank of Charleston. There is great rejoicing among the community at suspension. A rumor that six hundred government troops were coming on the steamer James Adger to man the harbor forthwith, created a feverish excitement throughout the city to-day. Knots were gathered on every corner discussing what should be done. On the receipt of a telegraphic contradiction of the rumor the excitement subsided. The cadets of the Kentucky Military Academy have unanimously tendered their servicest to Governor Gist.