Spring Garden Bank - Philadelphia, PA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: November 1, 1893*
Location: Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model: gpt-5-mini
Short Digest: 5199f7ed

Response Measures

None

Description

Article excerpt places the firm's failure in the context of the Panic of 1893. OCR errors in the datelines (numbers like 1830/1801) appear; the mention ties Barker Bros. & Co.'s failure to the 1893 panic, so date is set to November 1893 (day not provided). The bank is named as 'Barker Bros. & Co.' (a private banking firm). The article explicitly says the bank 'failed' and lists liabilities, indicating permanent failure/closure rather than only a temporary suspension.

Events (1)

1. November 1, 1893* Suspension

Cause: Macro News
Cause Details: Failure occurred in the context of the Panic of 1893/widespread bank failures and clearing house assistance during the panic; bank failed as part of that systemic crisis.
Newspaper Excerpt: Barker Bros. & Co., bankers of Philadelphia, failed with liabilities of $5,000,000.
Source: newspapers

Newspaper Articles (1)

1. October 21, 1904 Gunnison News-Champion and Tribune Gunnison, CO

Article from Gunnison News-Champion and Tribune, October 21, 1904

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Article Text

SUBPLUS N BRAT. Comparison by Mryaa w the Cream of Clovdand's remisteration Speaking of the panic of 1893. ww liam J. Bryan says in the current w sue of the Commoner: "The first indication of its coming appeared November 11. 1830, when the New York Clearing House sam ciation voted its certificates to banks in need of assistance. November 18 the Boxton Clearing House did'llkowise. Barker Bros. & Co., bankers of Philadelphia, failed with liabilities of $5,000,000. Mr. Bryan then gives a long list of failures, beginning with the United Rolling Stock Company, of Chicago, November 22, 1830, and ending with that of the Spring Garden Bank, of Philadelphia, May 8. 1801. Then came the Homestead and other great labor troubles. followed by the election of Cleveland to the Presidency. In May. 1893. there were more failures, and finally the raids on the United States Treasury. January 17. 1894. the Administration ordered s $30,000,000 bond issue. August 1, 1894. the Wilson tariff went into offect." Continuing with his most interest ing and timely retrespect, Mr. Bryan says: "It will be observed that the Clere land Administration ordered the sre.000,000 bond issue January 17, 1894. That was seven months before the Wilson bill became a law. Perhape It is not significant, but in view of Mr. Roosevelt's claim. it is at least Interesting. that the first Indications occured nette more of 1800, the a pasic than November thirty days 11. after the McKinley tariff bill became a law. From that date the panic raged and while its effects were felt for several years, it reached its worst stage in 1883 and during the early days of 1894. during all of which time the McKinley tariff law was in effect. "It may not be out of place to point out that when the Democratic Administration surrendered the reins of gevernment. March 4. 1889. there was is the Federal Treasury the largest surplus in history. When the Republican party went out of power. March 4. 1893. there was a large deficit and the incoming Administration was finally persoaded to make the bond issues which its Republican predecessor had at one time thought to be necessary, but had skillfully avoided."