18747. Jersey Shore Bank (Jersey Shore, PA)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
November 14, 1857
Location
Jersey Shore, Pennsylvania (41.202, -77.264)

Metadata

Model
gpt-5-mini
Short Digest
bbcd8912

Response Measures

None

Description

Articles (Nov 1857) describe Pennsylvania banks suspending specie payments; Jersey Shore Bank had suspended with other state banks and then reopened for business (article on Nov 20 says it opened on Monday last). No run or depositor agitation is described.

Events (2)

1. November 14, 1857 Suspension
Cause
Macro News
Cause Details
Collective suspension of specie payments by banks in Pennsylvania (systemic/statewide suspension during the 1857 crisis).
Newspaper Excerpt
during the suspension of Specie payments, by the Banks of this Commonwealth
Source
newspapers
2. November 15, 1857 Reopening
Newspaper Excerpt
The Jersey Shore Bank opened on Monday last and is now ready for the transaction of business.
Source
newspapers

Newspaper Articles (2)

Article from Columbia Democrat and Bloomsburg General Advertiser, November 14, 1857

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Article Text

BANK ACTION.-The officers of the Banks of Danville, Northumberland, Lewisburg, West Branch, Jersey Shore and Lock Haven, have passed the following resolution :- : Resolved, That during the suspension of Specie payments, by the Banks of this Commonwealth, we deem it inexpedient to make any arrangements with the City Banks for the redemption of our Notes. E. H. Baldy, Pres't. Bank of Danville. J.B. Packer, Pres't. North'd. Bank. Wm. Cameron, Pres't. Lewisburg Bank. O. Watson, Pres't. West Branch Bank. L. A. Mackey, Pres't. Lock Haven B'k. J.A. Gamble, Pres't, Jersey Shore B'k.


Article from Lewisburg Chronicle, November 20, 1857

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Article Text

GOING BACK AGAIN.-It is stated that goods to the amount of many millions of dollars, now warehoused in the United States, will be re-shipped to Europe. This is good news. It is further said that large numbers of the better citizens" from the Emerald Isle, are returning to their own country on account of the hard times in this. Let'em go-both of 'em -and stay. The Jersey Shore Bank opened on Monday last and is now ready for the transaction of business. The Bank starts fair and no doubt will be a blessing to this section of country. The late law relative to the suspension and resuming of specie been accepted. They payment he purpose g this paper at their own counter whenever demanded-Jerscy Shore Republican. The Hardware merchants held a meeting in the Astor House, at which, after tedious ate, a substitute for the resolution recommending the six month credit system, which had been reported by the Committee, was adopted, and a four months' standard, to go into operation on the first day of January next, was carried by the Chairman's casting vote. A man named Ford, arrested for stabbing Baily, a free State man, at Lecompton, has been allowed to escape by Judge Cato, who refused to call a grand jury, and SO suffered the case to go by default, as it was only 2 free State man who was stabbed. The Georgia Constitutionalist says that a cook of one of the citizens of Augusta on opening the gizzard of a deceased Shanghai found a piece of gold of the value of five dollars. This is the latest joke of the season. On the 13th ult., an election for delegate to Congress was held by the settlements in Dakotah territory, and Alpheus G. Fuller, formerly of St. Paul, was duly chosen. Five of the eight democratic newspapers in Nebraska have come out in favor of making that territory a slave State.