19542. Anthracite Bank (Tamaqua, PA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
October 26, 1857
Location
Tamaqua, Pennsylvania (40.797, -75.969)

Metadata

Model
gpt-5-mini
Short Digest
469c4773

Response Measures

None

Description

Newspapers from Oct-Nov 1857 list the Anthracite Bank of Tamaqua among institutions not receiving acceptance/being excluded; article language indicates it was not solvent prior to the suspension. No article text describes a depositor run or later reopening; best classification is a suspension that led to closure/insolvency. Bank charter type not specified in the clippings, so set to unknown.

Events (1)

1. October 26, 1857 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Article states Anthracite Bank of Tamaqua was not solvent prior to the suspension, indicating bank-specific insolvency problems led to suspension.
Newspaper Excerpt
All Pennsylvania notes are received except those not solvent before. the suspension, and the Anthracite Bank of Tamaqua, and the Farmer's Bank of Lancaster.
Source
newspapers

Newspaper Articles (2)

Article from The Evansville Daily Journal, October 26, 1857

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Article Text

BANKABLE FUNDS. -The leading bank ing houses in Cincinnati now take at par the notes of Kentucky, Ohio, Louisiana, Missouri banks, State Bank and Branch es of the State of Indiana, all currency bankable in New York, Philadelphia, Baltimore, Boston and Pittsburgh. In New York city the notes of all the banks are received except the following Niagara River Bank, Tonawanda; Agricultural Bank, Herkimer county; Dairyman's Bank, Newport; Hollister Bank, Buffalo; Ontario Bank, Utica; O. Lee & Co.'s Bank, Buffalo; Bank of Orleans, Albion; Reciprocity Bank, Bufialo; Sackett's Harbor Bank, Buffalo; Yates County Bank, Pen Yan; Tompkins County Bank, Ithaca; Hugenot Bank, New Paltz; Medina Bank, Medina; Troy City Bank, Troy; Central Bank of New York, Utica; Hamilton Exchange Bank, Greene. All Pennsylvania notes are received except those not solvent before. the suspension, and the Anthracite Bank of Tamaqua, and the Farmer's Bank of Lancaster. All the notes of solvent Maryland Banks. The notes of the old banks of Virginia are looked upon with more favor, as are also the Indiana Stock Banks, and the indications are that the former and perhaps the latter will be bankable in a few days in Cincinnati. The same currency is now received by the private Banks in St. Louis, and in Louisville the private bankers are taking the notes of the Indiana and Ohio State Banks, New Orleans, and most of the New York, New England, Pennsylvania, Baltimore, old Tennessee, and some of the South Carolina Banks on deposit, returnable in the same money. Why cannot the same course be adoptted by the three Banks in Evansville ? It would give us at once a currency for business in which every one would have confidence.


Article from Democrat and Sentinel, November 25, 1857

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Article Text

Consolidation Bank, Nov. Bank of Chambersburg, Nov. Reading Savings Bank, Bank of Danville, Nov.1 Western Bank, ,Nove South Wark Bank Nov. Miners' Bank of Pottaville, WE Tradesmen's Bank of Philadelphia, Nov, Farmers' and Mechanics' Bank of Ponasylvania, Nov: Mechanics' Bank of Pittsburg, AGA Bank of Penn township, Nov: Kensington Bank, Nov, Farmers' Bank of Reading, Nov. Lebanon Bank, Nor: Laneaster County Bank, Nov Girard Bank, Nor Easton Bank, Nov, Allentown Bank, Nov, Bank of Lawrence county, Novi Wyoming Bank at Wilkesbarre, Nor, Anthracite Bank of Tamaqua, Nov, Farmers' Bank of Easton, Nov. Doylestown Bank, Nov. Lock Haven Bank, Nor Commercial Bank of Pennsylvania, Nov. Bank of Germantown, Nov. Farmers' Bank of Lancaster, Nov. Merchants' and Manufacturers' Bank of Pittsburg. Nov. Mochanies' Bank of Philadelphia, Nov Harrisburg Bank, Nov. Bank of the Northern Liberties, Nov, Bank of Middletown, Nov. Mauch Chunk Bank, Nov. Columbia Bank, ,Now, Bank of Commerce. Nov Six Penny Savings Institution, of Philadelphia, Nov / Bank of North America, Nov City Bank, (Philadelphia,) Nov Nov Exchange Bank of Pittsburg, Bank 0: Gettysburg, Nov Manufacturers' and Mechanica' Bank of Philadelphia, Nov Nov Citizens' Deposit Bank of Pittsburg, Honesdale Bank, No Bank of Delaware county, Nov. Nov Bank of Montgomery County, Bank of Pennsylvania, NW York Bank, Nov1 York County Bank, Nor] Nor] Philadelphia Saving Fund Society, Lewisburg Bank, Nov West Branch Bank, Nor Not Bank of Choster County, Penn'a Co. for Insurance on Lives and Granting Annuities, Nov.] National Safety, Insurance and Trust Co., Nov Western Saving Fund Society of Philadelphia, Nov. Central Insurance Co., Harrisbarg, Nov War. en County Bank, Not No further notice of acceptance have be received at the Auditor General's office (4 several days past, and it is therefore preus ble that those Banks that have not signition their accaptance, have declined the provi ions of the law. Woobserve, however. fre the newspapers. that the Erie City Back au the Bucks County Bank, bad taken to accept, but no notice to this effect has : been received at the Author's Department The law allowed the Banks thirty days ter the date of suspension, to accept the pr visions, and required them to give notice the Auditor General of the factor acceptant All the new Banks pay specie. Mr. C. McLain, Bank clerk of the depart ment, is entitled to our thanks for his tesy in giving access to the books from which we have derive di our statement We append a list of the Banks and Savings Institutions, from hom no notice of servy tance has been received, as follows :-