18991. Commercial Bank (Suffolk, VA)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
state
Start Date
August 1, 1885
Location
Suffolk, Virginia (36.728, -76.584)

Metadata

Model
gpt-5-mini
Short Digest
a44cf777eb3d8bf8

Response Measures

None

Description

Multiple contemporaneous newspapers (Aug 1โ€“3, 1885) report the Commercial Bank of Suffolk suspended Aug 1, 1885. Causes cited are excessive loans to the Suffolk Cotton Mill and losses from a recent fire. Several dispatches indicate an assignment/settlement was expected the following day, implying permanent closure rather than a temporary suspension with reopening.

Events (1)

1. August 1, 1885 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Embarrassed by excessive loans to the Suffolk Cotton Mill and losses from a recent fire in Suffolk.
Newspaper Excerpt
The Commercial Bank of Suffolk suspended to-day. It is stated that the bank was embarrassed by excessive loans to the Suffolk Cotton Mill and by losses from the recent fire in Suffolk. The deposits are about $100,000.
Source
newspapers

Newspaper Articles (10)

Article from Memphis Daily Appeal, August 2, 1885

Click image to open full size in new tab

Article Text

NEWS IN BRIEF. Baltimore, Md., August 1.-It is stated that the Western Union Telegraph Company obtained a temporary injunction in Harrisburg to-day restraining the Balti more and Ohio Telegraph Company from entering that city. New York, August 1.-Judge Cullen today, in the Supreme Court, rendered a decision in the case of the Gypsies who were brought here ou a steamer of the Bordeaux line, by which they will be compelled to return to France. New Orleans, August 1.-P.S. Colby, paymaster of Morgan's Louisiana and Texas Railroad and Steamship Company, was arrested here this morning on a charge of embezzlement. The amount of shortage is over $11,000. Norfolk, Va., August 1.-The Commercial Bank of Suffolk suspended to-day. It is stated that the bank was embarrassed by excessive loans to the Suffolk Cott on Mill and by losses from the recent fire in Suffolk. The deposits are about $100,000. Massillon, o., August 1.-All be n.iners, about 1200 in number, employed in the Massillon district, Tuscaraw S Valley, stopped work to-day owing to tha demand of the operators that they accept a reduction of 75 to 60 cents per ton in price of mining. Philadelphia, Pa., August 1.-A special to the Press from Hamilon, says: "In accordance with an act of the Legislature prohibiting the employment of boys under twelve years old in the coal breakers, and under fourteen in the mines, about 500 boys will be discharged from the collieries in this vicinity to-day. e Pittsburg, Pa., August 1.-No doublee header trains were sent out by the Baltie more and Ohio railroad to-day, and the r, str kers still remain firm. Superintendent e Harris met the men this morning, but e they declined to yie Id. He says the comk pany proposes to run their trains to suit W themselves, and anticipates no disorder. e Chicago, August 1.-The three Italian le stranglers, Azar, Gelardi and Silvester, 8 lately sentenced to be banged for the mur 's der of Filippo Carttso, appeared in Judge h Haxes's court-room to-day while their re a d for a new wa is the commencement spective of granted, the motion attorneys asked for trial. continuance of This the Sep tember term being set for argumenton the 1. motion. Philadelphia, Pa, August 1.-Gov. Pat et tison presided at a meeting here to-day t as raise $7000 to help build a chapel for th rt University of Virginia. Several speeche y, were made in which it was stated that th rproposed constitution would be taken a g an evidence of the increasing fraterna d feeling between the people South an d North. A committee for the purpose wa ch appointed. be


Article from The Democratic Leader, August 2, 1885

Click image to open full size in new tab

Article Text

A Busted Bank. NORFOLK, Va., Aug. 1.-The Commercial bank of Suffolk, suspended to-day. It is stated that the bank was embarrassed by excessive loans to the Suffolk cotton mills and by losses from the recent fire in Suffolk. The deposits are about $100,000.


Article from St. Paul Daily Globe, August 2, 1885

Click image to open full size in new tab

Article Text

Bank Failure. NORFOLK, Va., Aug. 1.-The Commercial Bank of Suffolk suspended toIt is stated that the day. bank was embarrassed by excessive loans to the Suffolk cotton mill and from losses from the recent fire in Suffolk. The deposits are about $100,000.


Article from The Salt Lake Herald, August 2, 1885

Click image to open full size in new tab

Article Text

Suspended. NORFOLK, Va., August 1.-The com mercial Bank of Suffolk suspended to day. It is stated that the bank was embarrassed bv excessive loans to the Suffolk Cotton Mill, and by losses from fire in Suffolk. The deposits are about $100,000. TGG


Article from Seattle Daily Post-Intelligencer, August 2, 1885

Click image to open full size in new tab

Article Text

They Didn't Race. CHICAGO, Aug. 1. - At Chittenham Beach tonight W. S. Smith and A. L. Talbot ascended in two balloons for 8 race in mid air. When a height of 1200 feet had been reached the mashines collapsed. Talbot eame down with his wreek comparatively uninjured, but Smith fell the whole disliance, striking some telegraph wires before reaching the earth. He still lives, but will die. Bank Suspension. NORFOLK, Va., Aug. 1.-The Commercial Bank of Suffolk suspended today. It is stated that the bank was embar rassed by excessive loans to the Suffolk Cetton Mill, and by losses from the recent fire in Suffolk. The deposits are about $100,000.


Article from Richmond Dispatch, August 2, 1885

Click image to open full size in new tab

Article Text

BaukAuspension at Suffolk. (By telegraph to the Dispatch.) NORFOLK, va., August 1.-The Commercial Bank of Suffolk suspended to-day. It is stated that the bank has been embarrassed since the bank troubles here in April, and was also embarrassed by excessive loans to the Suffolk Cotton-Mill and by losses from the recent fire in Suffolk. The deposits in the bank are said to amount to about $100,000.


Article from The Sun, August 2, 1885

Click image to open full size in new tab

Article Text

Suspension of a Bank. NORFOLK. Aug. 1.-The Commercial Bank at Suffolk, Va., suspended to-day. The bank was embarrassed by excessive loans to the Suffolk Cotton Mill and by losses from the recent fire in Suffolk. The deposits are said to amount to about $100,000.


Article from Savannah Morning News, August 3, 1885

Click image to open full size in new tab

Article Text

Norfolk's Broken Bank. NORFOLK. VA., Aug. 2.-The suspension yesterday of the Commercial Bank of Suffolk created no excitement here. It is thought in Suffolk that the depositors will be paid in full. All assignment will probably be made to-morrow.


Article from Fort Worth Daily Gazette, August 3, 1885

Click image to open full size in new tab

Article Text

A Virginia Bank Suspends, NORFOLK, VA., Aug. 2.-The Commercial bank of Suffolk has suspended. It is stated that the bank was embarrassed by excessive loans to the Suffolk cotton mill and by losses from the recent tire in Suffolk. The deposits are about $100,000.


Article from The Abilene Reflector, August 6, 1885

Click image to open full size in new tab

Article Text

ADDITIONAL DISPATCHES. AN immense fire occurred at Toronto, Can., early on the morning of the 3d, starting on the Toronto Sugar Refining Company's new premises on the Esplanade. Two or three vessels at the wharf took fire and were destroyed. It was reported that one or two lives were lost in the warehouses and elevators that succumbed to the flames. The loss was supposed to exceed $1,000,000. AN official dispatch from Victoria, B. C., says that extradition papers have been granted in the case of Hibbs, the defaulting postmaster at Lewiston, Idaho, and that $10,000 found on his person will also be turned over. S.S. Cox, United States Minister, has been specially instructed, it is reported at Constantinople, to resume negotiations with the Porte for a modification of the Turkish tariffs on American imports. AT Rome, on the Cardinal Moran con. secrated Archbishop Walsh, of Dublin, and other prelates. Several American notables were present. IN accordance with the act of the Legislature prohibiting the employment of boys under twelve years of age in the coal breakers and under fourteen years in the mines, about five hundred boys were discharged from the collieries in the Shamokin (Pa.) district on the 1st. URLEY PUGH and J. D. Smith, two young men residing three miles west of Ranger, Tex., while in an intoxicated condition were run over and killed by an east bound passenger train on the Texas & Pacific Railroad. RIEL, the half-breed Canadian rebel, was found guilty of treason and murder at Regina, N. W. ฮ“., and sentenced to be hanged September 18. A FULL grown and ferocious lion made its escape at Texarkana, Tex., recently as Robinson's show was leaving the town. It sought the woods and was seen several times prowling around the outskirts of the town. It was subsequently shot after injuring a man. THE Rt. Rev. Richard Phelan was consecrated coadjutor Bishop of the Catholic Diocese of Pittsburgh and Tutelar Bishop of Phrygia at Pittsburgh, Pa., on the 2d. THE clearing house returns for week ended August 1 showed an average decrease of 1.1 compared with the corresponding week of last year. THE public debt statement showed the decrease during the month of July to be $8,662,789.96. THE Commercial Bank of Suffolk, Va., suspended recently. The deposits were about $100,000. A POLICE cordon is stationed around the cholera infected houses at Madrid. The poorer classes manifest the greatest hostility to the official doctors and pall bearers.