Augusta National Bank - Staunton, VA

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 2269
Charter Number: 2269
Start Date: August 13, 1893
Location: Staunton, Virginia (38.150, -79.072)

Metadata

Model: gpt-5-mini
Short Digest: e7654630322a91cd

Response Measures

None

Description

Article (Aug 13, 1893) reports that Augusta National Bank joined other Staunton banks in restricting cash payouts to $50 and issuing certified checks for larger amounts as a precaution to avoid runs. This is a partial restriction of payments (preventative measure), no run or failure is reported and banks are said to be solvent.

Events (2)

1. May 24, 1875 Chartered

Source: historical_nic

2. August 13, 1893 Suspension

Cause: Local Banks
Cause Details: Precautionary measure adopted following the example of other Virginia banks to avoid possible runs by timid depositors; limiting payouts to $50 and issuing certified checks for larger sums.
Newspaper Excerpt: The National Valley, Augusta National and People's Savings banks yesterday agreed on the plan of paying out on checks to depositors only $50, issuing certified checks for sums in excess of that amount.
Source: newspapers

Newspaper Articles (1)

1. August 17, 1893 The Valley Virginian Clifton Forge, Staunton, VA

Article from The Valley Virginian, August 17, 1893

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Article Text

Bank Precautions at Staunton. STAUNTON. Va., Aug. 13.-The National Valley, Augusta National and People's Savings banks yesterday agreed on the plan of paying out on checks to depositors only $50, issuing certified checks for sums in excess of that amount. This precautionary measure was adopted to avoid possible danger of serious runs from timid depositors. All three banks are perfectly solvent and in very healthy condition, but a general run would exhaust the currency on hand. This is but following the example of other Virs ginia banks, and is generally indorsed by the business community.