Freedman's Savings & Trust Company (alexandria Branch)

Bank Information

Episode Type: Suspension → Closure
Bank Type: federal
Start Date: July 2, 1874
Location: Alexandria, Virginia (38.818, -77.082)

Metadata

Model: gpt-5-mini
Short Digest: cb477f8acac91f83

Response Measures

None

Description

Branch suspended payments after failure of the parent (Washington) Freedman's bank. Article (Alexandria Gazette 1874-07-03) states suspension occurred yesterday (inferred 1874-07-02) and that affairs will be settled up — no reopening mentioned, indicating permanent closure/suspension leading to winding up. No run or depositor agitation reported.

Events (1)

1. July 2, 1874 Suspension

Cause: Correspondent
Cause Details: Suspension caused by the failure of the parent bank in Washington (the national/central Freedman's bank).
Newspaper Excerpt: FREEDMAN'S BANK.--The branch of the Freedmen's Savings Bank, in this city, suspended payment yesterday.
Source: newspapers

Newspaper Articles (1)

1. July 3, 1874 Alexandria Gazette Alexandria, VA

Article from Alexandria Gazette, July 3, 1874

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Article Text

FREEDMAN'S BANK.--The branch of the Freedmen's Savings Bank, in this city, suspended payment yesterday. At the close of business. the Bank held the sum of $14,000. To all new depositors who have commenced depositing since June 22d, the amount deposited by them will be returned. The suspension is caused by the failure of the parent bank in Washington. The affairs of this branch will be settled up as rapidly as possible.