19030. Stark Bank (Bennington, VT)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
October 1, 1857*
Location
Bennington, Vermont (42.878, -73.197)

Metadata

Model
gpt-5-mini
Short Digest
4cc106f29d4453af

Response Measures

None

Description

Articles (late October 1857) indicate Stark Bank's notes were listed as 'uncurrent' and discredited during the Panic of 1857; however the bank reportedly continued to redeem bills presented at its counter. No run or permanent closure is reported. I infer this is a temporary suspension/uncurrent status tied to the wider panic (macro news) and the bank was expected to resume/continue operations.

Events (2)

1. October 1, 1857* Suspension
Cause
Macro News
Cause Details
Listed as 'uncurrent' and rejected by Suffolk/Metropolitan clearing during the wider Panic of 1857 which caused many banks to suspend specie payments or become uncurrent.
Newspaper Excerpt
Stark ... set down in the list of discredited banks ... bills of the suspended Banks ... Stark, at Bennington
Source
newspapers
2. October 28, 1857 Other
Newspaper Excerpt
Up to the present time the bank has not failed to redeem every dollar presented at its counter for redemption. ... this is a mistake [published failed]; but the bank has not failed to redeem every dollar presented at its counter for redemption.-Banner.
Source
newspapers

Newspaper Articles (2)

Article from The Middlebury Register, October 28, 1857

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Article Text

THE STARK BANK, BENNINGTON.-- For the last few weeks every one has been afraid of a bank bill, no matter of what denomination, but now it is thought the bills of all the suspended banks will be received and paid out in busi ness transactions. The Stark Bank of this village, has been set down in the list of discredited banks, and in some of the city papers We notice it is published failed; but this is a mistake. Up to the present time the bank has not failed to redeem every dollar presented at its counter for redemption. Those who hold bills upon this Bank, as well as upon those of the State of New York, which have merely suspended specie payment, need have no fears of loosing from these bills, as they will eventually be redeemed.-Banner.


Article from Vermont Phœnix, October 31, 1857

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Article Text

Uncurrent Bank Bills. Under the present temporary arrangement during the panic, the bills of the suspended Banks of New England and New York are generally current in Boston and New York.The exceptions up to this time are all given below ; and in regard to these it is supposed that the bills are good in most cases, though not bankable. Or those Banks in this State set down as uncurrent, the Royalton, Stark, Missisquoi, and St. Albans, are undoubtedly good, and holders of bills should not submit to a sacrifice on them. The bilis of the following Banks are not received at the Suffolk Bank, Boston, nor at the Metropolitan Bank, New York : MAINE. China, and Canton, at China. Ellsworth, at Ellsworth. Exchange, at Bangor. Hallowell, and Central, at Hallowell. Hancock, at Ellsworth. Maritime, at Bangor. Monsum River, and Sanford, at Sanford. NEW HAMPSHIRE. Exeter, at Exeter. Weare, at Hampton Falls. VERMONT. Danby, at Danby. Missisquoi, at Sheldon. Royalton, at Royalton. South Royalton, at South Royalton. Stark, at Bennington. St. Albans, at St. Albans. MASSACHUSETTS. Manufacturers, at Georgetown. Western, at Springfield. RHODE ISLAND. At present all notes issued by the Rhode Island Banks are rejected, although most of them are current in their own State. CONNECTICUT. Bridgeport City, at Bridgeport. Charter Oak, at Hartford. Colchester, at Colchester. Exchange, at Hartford. Hartford County, at Hartford. Hatters, at Bethel. Mercantile, at Hartford. Merchants' Exchange, at Bridgeport. North America, at Seymour. Palaquioque, at Danbury. Pawcatuck, at Pawcatuck. Quinebaug, at Norwich. Thompson, at Thompson. Uncas, at Norwich. Windham County, at Brooklyn. Woodbury, at Woodbury. Wooster, at Danbury. NEW YORK. Agricultural, in Herkimer County. Central Bank of New York, at Utica. Dairyman's, at Newport. Hamilton Exchange, at Greene. Hollister, at Buffalo. Huguenot, at New Paltz. Medina, at Medina. Niagara River, at Tonawanda. O. Lee & Co.'s Bank, Buffalo. Ontario, at Utica. Orleans, at Albion. Reciprocity, at Buffalo. Sacketts' Harbor, at Buffalo. Troy City, at Troy. Yates County, at Penn Yan.