180. Southern Bank of Alabama (Mobile, AL)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
October 16, 1857
Location
Mobile, Alabama (30.694, -88.043)

Metadata

Model
gpt-5-mini
Short Digest
a3dbed98843a9b04

Response Measures

None

Description

Two contemporaneous newspaper reports (Oct–Nov 1857) describe a small attempted run on the Southern Bank of Mobile that was quickly quelled; no suspension or closure is reported. Date in sources varies (16 Oct mentioned in one report; another says 'yesterday' relative to Oct 19), so I record a single October 1857 run and note the date ambiguity. Bank type inferred as a state bank (pre-National Bank Act era; name lacks 'National' or 'Trust').

Events (1)
1. October 16, 1857 Run
Cause
Rumor Or Misinformation
Cause Details
Attempted small run / agitation by bill-holders (no insolvency or correspondent failure reported); appears driven by nervousness or local rumor rather than bank-specific insolvency.
Measures
Tellers paid out from strong reserves — teller's desk 'fortified by a Malakoff of gold and a Redan of silver' — satisfied claimants and restored calm.
Newspaper Excerpt
A small run was attempted upon the Southern Bank ... A large number of bill-holders crowded the bank soon after its opening, but ... the struggle soon ended, and quiet was restored.
Source
newspapers

Newspaper Articles (2)
1. October 19, 1857 New Orleans Daily Crescent New Orleans, LA
Article from New Orleans Daily Crescent, October 19, 1857

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Article Text

FINANCIAL IN MOBILE.-The Advertiser of Saturday says: A small run" was attempted upon the Southern Bank yesterday, but it did not amount to much. A large number of bill-holders crowded the bank soon after its opening, but as the Teller's desk was fortified by a Malakoff of gold and a Redan of silver, and as the demands of the claimants made no perceptible impression upon the fortress, the struggle soon ended, and quiet was restored. There is no likelihood now of either the Mobile or the Southern Bank suspending. The Mobile Savings Bank publishes in the papers of that city a statement of its affairs, placing its assets at $353,194 6S, and its liabilities at $293,438 78, thus leaving a surplus of $59,755 90, with discounted notes and drafts to the amount of $280,605 75 daily falling due.

2. November 6, 1857 The Athens Post Athens, TN
Article from The Athens Post, November 6, 1857

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Article Text

AN UNPROFITABLE RUN.-We learn from the Mobile Advertiser, that a small 'run' was attempted on the Southern Bank of Mobile on the 16the ult, but it did not amount to much. A large number of billholders crowded the bank soon after its opening, but as the Teller's desk was fortified by a Malakoff of gold and a Redan of silver, and as the demands of the claimants made no perceptible impression upon the fortresses, the struggle soon ended, and quiet was restored. There is no likelihood now, says the Advertiser, of either the Mobile or the Southern Bank suspending.