Bank of Montgomery County - Norristown, PA

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: February 12, 1857
Location: Norristown, Pennsylvania (40.121, -75.340)

Metadata

Model: gpt-5-mini
Short Digest: 06c6f672

Response Measures

None

Description

Single newspaper item (The New York Herald, 1857-02-12) reports a run on the Bank of Montgomery County in Norristown, PA, but explicitly states the bank has ample assets to meet demands and mentions no suspension, receivership, or reopening. Cause of the run is not described in the article.

Events (1)

1. February 12, 1857 Run

Cause Details: Article does not state a reason or trigger for the run; only reports that a run occurred and that the bank is solvent.
Measures: No specific defensive measures described; article notes the bank has sufficient assets to pay all demands.
Newspaper Excerpt: There has been a run upon the Bank of Montgomery County, Norristown, Pa. It is stated that the bank has $180,000 of assets beyond all He liabilities, enabling Ht to pay all demands that can some against it, and atterwards pay the stockholders and divide a surplus of $80,000 among them.
Source: newspapers

Newspaper Articles (1)

1. February 12, 1857 The New York Herald New York, NY

Article from The New York Herald, February 12, 1857

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Article Text

The Assistant Treasurer reports to day as follows: $816,069 or Total receipts 82,918 94 Total payments Total balance 14,356,600 68 The receipts of the Chicago and, Rock Island road for $100,148 41 January, 1857, were January, 1856 74,031 9. $27,116 51 Increase (equalto 35 per cent.) A telegraphic despatch from Chicago states that the treek of the Illinois Central road is in good order. Upon the branch there is no delay, nor any upon any part of the route which cannot be removed very readily. The following is a comparative statements of the re celpts of the Long Island Railroad for one month:$11,981 67 In January, 1856, they were 9,024 28 In January, 1867, they were $2,957 39 Failing off in the receipts The Indiana Central Railroad Company have just declared a three per cent dividend, payable in Indianapolis. Th gross earnings for the year 1866 amount to $484,004 29 The net to 249,618 81 Tbetotal receipts were 272,346 39 The amount of interest, taxes, dividends, and 246,722 B9 construction expenses were 22,624 29 Leaving a surplus of The Manhattan Life Insurance Company has declared an interest dividend of three and a half per cent on the capital stock, and a dividend of four and a half per cent out of the profits of last year; the Niagara Fire Insu raboe Company ten per cent, payable on the 16th inst. There has been a run upon the Bank of Montgomery County, Norristown, Pa. It is stated that the bank has $180,000 of assets beyond all He liabilities, enabling Ht to pay all demands that can some against it, and atterwards pay the stockholders and divide a surplus of $80,000 among them. The brokers and bankers of St. Louis receive the paper of all the Illinois banks, except the following:--The Peopie's Bank, Carmi: Stock Security Bank, Danville; Prairie State Bank, and Rushville Bank. Attempts have been made to discredit the banks established at various other points in Illineis, but up to Thursday last all except those above named were in good credit at Chicago and St. Louis. There are now thirty-three stock insurance companies in the State of Massachusetts, nineteen of which are in Boston, and fourteen out of the city. In the Boston offices the amount at risk Nov. 1, 1856, was $169,128,889; in the country -flices, $48,016,220-making a total of $217,145,109. or this amount, $129,171,426 was on fire risks, and $87,973,683 on marine risks. There are sixteen mutual marine and mutual fire and marine insurance companies in that State, seven located in Boston and nine in the country. The amount at risk Nov. 1, 1856, was, in Boston offices, $44,425,082; in country offices, $17,851,347-a total of $62,276,929. Of this amount $50,039,665 was on marine risks, and $12,237,264 on fire risks. There are sixty-four mutual fire companies, ten of which are tocated in Boston. Amount at risk Nov. 1, 1866, in Boston ofloces,$50,187,213; in country effcem,$142,988,794-totnl, $193,126,007. The whole amount at risk in home life insurance companies, as near as can be ascertained, $13,944,300: Insured by agents of foreign offices in that State during the last year about $7,500,000. The last annual report of the Macon and Western Bailroad Company gives the annexed exhibit of earnings and expenditures for the year ending Nov. 30, 1886:MACON AND WESTERN RAILROAD. The gross Income for freight, mails, passengers, 9849 907 and interest on money loaned, amounts to 205,008 Expenses $144 898 Net 109,381 Add balance from last report 746 Amount received on new stock 517 Suspense account, land sold $255,548 Total Out of which bas been paid$135,415 Dividends Nes. 19 and 20 9,566 Interest on bends 2,790 State and city taxes Paid from this fund and charged to con92,987 struction account $200,723 $54,819 Balasse on band The latest intelligence in regard to the Tehuantep e reute to the Pacific le contained in a letter to the New Orleans Picayune, under date of the 17th of Dec. The cor that rehernes had excized mub ano