Thompson Bank - Thompson, CT

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: October 3, 1857
Location: Thompson, Connecticut (41.959, -71.863)

Metadata

Model: gpt-5-mini
Short Digest: bfb5b998

Response Measures

None

Description

Contemporary reports during the Panic of 1857 list Thompson Bank (Conn.) as 'thrown out' / 'uncurrent' on Oct 3, 1857 and then 'again received' by Oct 13, 1857. No explicit depositor run is described in the articles — this is a suspension/uncurrentness episode tied to the wider panic and clearinghouse actions, followed by being again received.

Events (3)

1. October 3, 1857 Suspension

Cause: Macro News
Cause Details: Listed among banks 'thrown out' during the nationwide panic of 1857; bills became uncurrent at major clearing banks (Suffolk/Metropolitan).
Newspaper Excerpt: The following Banks are thrown out to-day: ... Thompson Bank, Conn.
Source: newspapers

2. October 13, 1857 Reopening

Newspaper Excerpt: The Bank of Lima and the Thompson (Ct) Bank are again received.
Source: newspapers

3. October 31, 1857 Other

Newspaper Excerpt: The bills of the following Banks are not received at the Suffolk Bank, Boston, nor at the Metropolitan Bank, New York: ... Thompson, at Thompson.
Source: newspapers

Newspaper Articles (3)

1. October 3, 1857 New-York Daily Tribune New York, NY

Article from New-York Daily Tribune, October 3, 1857

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Article Text

Chicago, and one ortan others; also Powell, Ramedell & Co. of Newburgh, % highly respectable and wealthy house. The following Banks are thrown out to-day:-The Farmers' Bank and Hudson River Bank, at Hudson; Old Saratoga Bank, N. Y.; Thompson Bank, Conn. Phillipsburg Bank, N.J.; Base River Bank, Mass.; and Stark Bank, Vt. Many of the uncurrent moneydealere have been unwilling to purchase Eastern currency to-day, and buy State only to moderate extent at I to 2 per cent discount. The American Exchange and Metropolitan Banks, however, continue to-receive as usual at 1.10 for Eastern, and 1 per cent for State, from their dealers and correspondent Banks, and we are assured they will continue to receive as long as the New York Banks sustain specie payments. The new Board of Directors of the Michigan Southern Railroad organized to-day, and elected Mr. John B. Jervis President of the Road. The North River Fire Insurance Co. have declared a semi-annual dividend of 10 P cent, payable on and after the 10th inst. The Fulton Fire Insurance Co. have declared & dividend of $5 v share. The reported suspension of Mesers. H. Simons & Co., jewelers, published in The Independent and copied by us in yesterday's edition, proves to be without foundation. We annex a comparative statement of the imports of foreign Dry Goods at New-York for the week, and since January1: 1859. 1856. 1855. For the Week. $1,097,966 $1,298,291 $1,518,243 Entered at the Port 564,660 1,328,834 1,499,210 Thrown on market 1857. 1856. 1855. Since Jan. 1. $82,170,562 $78,811,878 $49,575,243 Entered at the Port 78,280,515 77,871,747 52,050,956 Thrown on market The figures of the week show an unusually small amount of goods thrown on the market. The details of the week are:

2. October 13, 1857 The Daily Gate City Keokuk, IA

Article from The Daily Gate City, October 13, 1857

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Article Text

Bank Items. The N. Y. Tribune of the 6th says: The Bank of Lima and the Thompson (Ct) Bank are again received. The Banks thrown out to-day are the Bank of Central New York, Utica; the Oneida Central Bank, Rome; and the Worthington Bank-all this State. The report originating with the New Jersey Sentinel, that the State Bank at New Brunswick, N. J., had suspended, is untrue. This is one of the oldest banks in the State, has already redeemed its bills in this city, and, we are assured, is as sound as any bank in the country. The Exchange Bank of Lockport has not suspended, and the Traveler says that the notes of the Bass River Bank are redeemed at the Suffolk Bank. The Jersey City Sentinel of Oct. 20, says: "There is not a single New Jersey bank at present in a state of suspension. The State Bank at New Brunswick, and the Bergen County Bank, the only two which suspended, resumed almost immediately, and none others are now likely to go down." The following is a list of the Virginia independent banks which have suspended: Monticello Bank, Charlottesville; Bank of Commerce, Fredericksburg; Valiey Bank, Charlestown: all in Winchester, Staunton and Alexandria, and Manufacturers' & Mechanics' Bank in Wheeling; Bank of Berkely, Martinsburg; the Bank at Howardsville, and Bank at Rockingham, Harrisonburg. The Peninsular Bank of Detroit was enjoined on the 29th. The charter requires that its securities, which are United States and State stocks, shall be kept in market valuation at a certain rate with the issue of the bills. Michigan State stocks having fallen to 75 cents, the State Treasurer required the surrender of $40,000 of the circulating notes, which the bank refused. The Attorney General, as authorized by the Revised Statutes, filed a bill in chancery, and obtained an injunction against the bank. VIRGINIA POLITICS. The Richmond Enquirer states that Gov. Wise is not a candidate for the United States Senate in opposition to Senator Hunter. It sustains this assertion by submitting sundry reasons why Gov. Wise should not enter upon such a canvass. He is a condidate for the Presidency in 1860, and a contest with Senator Hunter, whether successful or not, could not fail to weaken his prospects by arraying against him strength which he will need in his support. Mr. Hunter's re-election, it is urged, with Gov. Wise's co-operation, will "by no means injure the Presidential prospects of the latter."

3. October 31, 1857 Vermont Phœnix Brattleboro, Bellows Falls, Ludlow, VT

Article from Vermont Phœnix, October 31, 1857

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Article Text

Uncurrent Bank Bills. Under the present temporary arrangement during the panic, the bills of the suspended Banks of New England and New York are generally current in Boston and New York.The exceptions up to this time are all given below ; and in regard to these it is supposed that the bills are good in most cases, though not bankable. Or those Banks in this State set down as uncurrent, the Royalton, Stark, Missisquoi, and St. Albans, are undoubtedly good, and holders of bills should not submit to a sacrifice on them. The bilis of the following Banks are not received at the Suffolk Bank, Boston, nor at the Metropolitan Bank, New York : MAINE. China, and Canton, at China. Ellsworth, at Ellsworth. Exchange, at Bangor. Hallowell, and Central, at Hallowell. Hancock, at Ellsworth. Maritime, at Bangor. Monsum River, and Sanford, at Sanford. NEW HAMPSHIRE. Exeter, at Exeter. Weare, at Hampton Falls. VERMONT. Danby, at Danby. Missisquoi, at Sheldon. Royalton, at Royalton. South Royalton, at South Royalton. Stark, at Bennington. St. Albans, at St. Albans. MASSACHUSETTS. Manufacturers, at Georgetown. Western, at Springfield. RHODE ISLAND. At present all notes issued by the Rhode Island Banks are rejected, although most of them are current in their own State. CONNECTICUT. Bridgeport City, at Bridgeport. Charter Oak, at Hartford. Colchester, at Colchester. Exchange, at Hartford. Hartford County, at Hartford. Hatters, at Bethel. Mercantile, at Hartford. Merchants' Exchange, at Bridgeport. North America, at Seymour. Palaquioque, at Danbury. Pawcatuck, at Pawcatuck. Quinebaug, at Norwich. Thompson, at Thompson. Uncas, at Norwich. Windham County, at Brooklyn. Woodbury, at Woodbury. Wooster, at Danbury. NEW YORK. Agricultural, in Herkimer County. Central Bank of New York, at Utica. Dairyman's, at Newport. Hamilton Exchange, at Greene. Hollister, at Buffalo. Huguenot, at New Paltz. Medina, at Medina. Niagara River, at Tonawanda. O. Lee & Co.'s Bank, Buffalo. Ontario, at Utica. Orleans, at Albion. Reciprocity, at Buffalo. Sacketts' Harbor, at Buffalo. Troy City, at Troy. Yates County, at Penn Yan.