Exchange Bank - Pittsburg, PA

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: January 1, 1862
Location: Pittsburg, Pennsylvania (40.441, -79.996)

Metadata

Model: gpt-5-mini
Short Digest: d9546689

Response Measures

None

Description

Article (Daily Ohio Statesman, 1862-01-03) reports that the Citizens', Exchange, Merchants' and Manufacturers, and Allegheny Banks in Pittsburgh had suspended the day previous (i.e., Jan 1, 1862). The piece only reports suspension of specie payments; there is no mention of a run, receivership, or permanent closure. I corrected the city spelling to the common 'Pittsburgh'. Outcome not stated; I judge this was a temporary suspension (most likely temporary specie suspension in early 1862), so classified as suspension_reopening. If you prefer a fully agnostic classification, note there is no explicit reopening or receivership in the text.

Events (1)

1. January 1, 1862 Suspension

Cause: Macro News
Cause Details: Part of a wave of bank suspensions reported across locations (Northern Bank of Kentucky at Louisville suspended; multiple Pittsburgh banks suspended), indicating a broader systemic or macro shock rather than a bank-specific failure.
Newspaper Excerpt: the Citizens', Exchange, Merchants' and Manufacturers, and Allegheny Banks had suspended the day previous.
Source: newspapers

Newspaper Articles (1)

1. January 3, 1862 Daily Ohio Statesman Columbus, OH

Article from Daily Ohio Statesman, January 3, 1862

Click image to open full size in new tab

Article Text

More Bank Suspensions, The Northern Bank of Kentucky, at Louisville, has suspended specie payment. The Pittsburgh Post, of Jan. 1, states that the Citizens', Exchange, Merchants' and Manufacturers, and Allegheny Banks had suspended the day previous.