Warwick Bank - Warwick, RI

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: September 12, 1857
Location: Warwick, Rhode Island (41.700, -71.416)

Metadata

Model: gpt-5-mini
Short Digest: 17440bfb

Response Measures

None

Description

Multiple contemporary newspapers (Sept–Oct 1857) list Warwick Bank, Warwick, R.I. among suspended and broken banks during the Panic of 1857. Articles give a suspension date of Sept. 12, 1857. There is no article here reporting a later reopening or a receiver appointment; several lists label it among suspended and broken banks, so I classify this as suspension leading to closure.

Events (1)

1. September 12, 1857 Suspension

Cause: Macro News
Cause Details: Part of the widespread financial panic of 1857 and consequent wave of bank suspensions across states; listed among suspended/broken banks in Sept. 1857 lists and newspapers reporting the 1857 crisis as cause.
Newspaper Excerpt: SUSPENDED BANKS. Rhode Island. ... Warwick, Sept. 12
Source: newspapers

Newspaper Articles (6)

1. September 26, 1857 Columbia Democrat and Bloomsburg General Advertiser Bloomsburg, PA

Article from Columbia Democrat and Bloomsburg General Advertiser, September 26, 1857

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Article Text

W. A. J. BRITTAIN, Sec'y. Suspended and Broken Banks. For the information of our readers, and in order to guard them against receiving worthless money, we publish the following list of recently suspended and broken Banks, which has been carefully compiled and compared with the list of the brokers in the city. It is gratifying to note that thus far in the present financial crisis, not a single Pennsylvania Bank is included in the list It is to be hoped they will be able to ride out the storm. Mechanics' Banking Association, N. Y. Farmers' Bank of Saratoga county, N. Y. Sacketts Harbor Baok, Buffalo, Reciprocity Bank, Buffalo. Chemung County Bank, Horseheads, N. Y. Ontario Bank, Vica, N. Y. Ontario County Bank, Phelps, N. Y. Oliver Lee & Co.'s Bank, Buffalo, N. V. Hollister Bank, Buffalo. Niagara River Bank, Towanda, N. Y. Bank of Orleans, Albion, N. Y. Huguenot Bank, New Paltz, N. Y. New-York County Bank, N. Y. Farmers' Bank, Wickford, B. I. Mount Vernon Bank, Providence, R. I. Rhode Island Central Bank, East Greenwich, R. I. Bank of South County, Wakefield, R. I. Warwick Bank, Warwick, R. I. Tiverton Bank, Tiverton, R. I. Bank of Hallowell, Maine. Hancock Bank, Ellsworth, Maine. Danby Bank, Danby, Vt. Bergen County Bank, Hackensack, N. J. Bank of New Jersey, New Brunswick, N. J. Merchants Exchange Bank, Bridgeton, Ct. Wooster Bank, Wooster, Ct. Sanford Bank, Sanford, Maine. Monson River Bank, Monson, Mass. Kanawha Bank, Virginia. Miama Valley Bank, Dayton, Ohio. S Bank of West Tennessee, Memphis, Tenn. a Agricultural Bank, Brownsville, Tenn, d Bank of Commerce, Georgetown, D.C. Colchester Bank, Connecticut.

2. September 30, 1857 The Middlebury Register Middlebury, VT

Article from The Middlebury Register, September 30, 1857

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Article Text

say, was answered by the payment of a million and a half of specie, in the course of a few hours. In this course the banks have by strict constructions of the law, forfeited their charters. In consequence, a proclamation of the Governor convening the Legislation appeared yesterday. It is as follows: Whereas, serious financial revulsion has occurred, resulting in the suspension of specie payments by the banks of this and other States, the failure of many long established commercial houses leading to the destruction of confidence and general embarrassment, threatening to affect disasterously, the credit of the Commonwealth and the great industrial interests of the people and requiring prompt, strict and efficient action to relieve the suffering community.... Therefore, I convene the Legislature to meet on the 6th of October, to adopt such measures as the present exigency requires. PITTSBURGH, Sept. 28. The excitement is subsiding. The Mechanics Bk. suspended to day. Business is paralyzed. All of our banks, except the Pittsburgh have suspended. The Providence Journal of yesterday morning in speaking of the condition of the affairs in that city says: 'There never before were two such weeks as closed upon the business of Providence last saturday Money continues at unmitigated rates although the demand slackens under the impossibility of obtaining discounts There is hardly any cotton in the market, and the manufacturers are working down their stocks, with no disposition to renew them under present circumstances. It is impossible longer to raise money to pay the labor and a dreary winter is before us. Until the news from Philadelphia and Baltimore arrived, there was a hope that the survivors of this week would go on with an easier money market; but these suspensions cut off a third of the collections upon which our banks were relying to meet their own engagements, and to extend relief to their customers. Providence stands now a creditor city but our collections on New York will not much more than ballance the demands upon us from that city, and those farther South are cut off by the suspension It is impossible to tell what the result will be, but it is plain that things cannot remain so much longer ### UNCURRENT BANKS. The following Banks are reported as uncurrent in this vicinity, though not all of them have failed: Mane.Bank of Hallowell, Hallowell -Canton Bank So. China-Ellsworth Bank, Bangor-Mousom River Bank, Sanford -Sanford Bank, Sanford. New Hamshire-Exter Bk, Exter, Vermont. Danby Bank, Danby-So. Royalton Bank, So. Royaiton, Massachusetts Cochituate Bank, Boston. Rhode Island. Bk. of So. Coventry Wakefield-Mount Vernon Bk., Providence R. I. Central Bank, Fall River -Warwick Bank, Warwick-Bank of Republic. Connecticut. Easton Bank, Killingly-Merchants Ex. Bank, Bridgeport-Worcester Bk., Danbury-Colchester Bank. Colchester. Pennsylvania-Warren County Bk, -Bank of New Castle-Lancaster Bk. New York-Bank of Orleans, Albion -Champlain Bank, Ellensburgh-Exchange Bank, Buffalo Farmers Bank New Paltz--Hollister Bank Buffalo-Merchants and Mechanicks Bank, Oswego-Niagara River Bank Tonawanda-Oliver Lee & Co, Buffalo--Ontario Bk Utica Reciprosity Bk., Buffalo-Sackets Harbor Bank, State Bk, Sackets Harbor-Chemung County Bank Horseheads-Ontario County Bk. Phelps-Yates County Bk. Penn Yan-Eighth Avenue Bk-Knickerbocker Bank. A little fellow from four to five years old, having perforated the knees of his trowsers, was intensely delighted with a patch his grandmother had applied. He would sit and gaze upon it in a state of remarkable admiration, and in one of these moods suddenly exclaimed: Grandma must put one on t'other knee and one behind, like Edy Smith's " "Let's take a horn," is a phase of frequent utterance. The blast of that horn may be the signal for the porter to open the gate of death. ### FACTS ABOUT THE PRESIDENTS. Four of the first seven were from Virgnia.--Two of the same name from Massachusetts, and the seventh was from Tennesee. All but one were sixty six years old on leaving office, having served two terms and one of them, who had served but one term would have been sixty-six years of age at the end of another. Three of the seven died on the 4th of July, and two of them were on the Sab Committee of Three that drafted the Declaration of Independence, and these two died on the same day and year, and on the Anniversary of the Declaration of Independence, aud just half a century from the day of Declaration. The names of three of the seven ended in 'son," yet neither of these transmitted

3. October 1, 1857 Quasqueton Guardian Quasqueton, IA

Article from Quasqueton Guardian, October 1, 1857

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Broken and Suspended Banks. A friend sends us the following complete and reliable list of Bank suspensions and failures of recent date, which will undoubtedly be of service to many of our readers: Hancock Bank, Maine. Bank of Hallowell, Maine. Exchange Bank, Maine. Exeter Bank, N. H. South Royalton Bank, Vermont. Danby Bank, Vermont. Wooster Bank, Connecticut. Merchants Exchange Bank, Bridgeport, Ct. Mercantile Bank, Hartford, Conn. Bank of North America, Seymour, Ct. Colchester Bank, Conn. Farmers' Bank, Wickford, R. I. Tiverton Bank, R. I. Arcade Bank, Providence, R. I. Warwick Bank, Warwick, R. I. Mt. Vernon Bank, Providence, R. I. Rhode Island Central Bank, R. I. " Bank of the South County, " Bank of Kent, Farmers' Bank of Saratoga, N. Y. " Ontario Bank, Utiea, " Fort Plain Bank, Ft. Plain, " Hollister Bank, Buffalo, " Reciprocity Bank, Buffalo, " Sacketts Harbor Bank, " Oliver Lee & Co's Bank, " Chemung County Bank, " Niagara River Bank, " Ontario County Bank, " Chemung Canal Bank, " Buffalo Bank, " Tonawanda Bank, " Phelps' Bank, " New Palt Bank, " Western Bank, Lockport, " Yates County Bank, .. Niagara County Bank, " International Bank, Buffalo, " New York Security Bank, " Unadilla Bank, " State Bank, Sacketts Harbor, " Huguenot Bank, " Bank of Albion, " " Corning, " " Lima, " " Orleans, Albion, Island City Bank, New York city. Mechanics' Banking Association, New York city. American Bank, Trenton, New Jersey. " Bergen County Bank, " Cataract City Bank, Paterson, " Iron Bank, Rockaway, " Haversack Bank, " Commercial Bank, " Bank of New Jersey, Trenton, " " " New Brunswick, Warren County Bank, Pennsylvania. " Farmers' and Drovers' Bank " Honesdale Bank, " Erie City Bank, Erie, " Bank of Middletown, Seneca County Bank, Tiffin, Ohio. " Sandusky City Bank, " Miami Valley Bank, " City Bank of Cincinnati, Bank of Kanawha, Virginia. Trans-Alleghany Bank, " Zimmerman Bank, Canada. Agricultural Bank, Tennessee. " Ocoe Bank, " Shelbyville Bank, Bank of West Tennessee, " " Bank of America, " Bank of East Tennessee, Peninsular Bank, Detroit, Mich. " Bank of Tecumseh, Rock River Bank, Wis. Farmers' Bank of Hudson, Wis. Bank of Elgin, Illinois. Bank of Naperville, Ill. Cumberland Savings Bank, Maryland. " Cecil Bank, " Hagerstown Bank, Farmers and Mechanics, Kent co, Md. Farmers and Marchants Greenshe

4. October 9, 1857 Vermont Watchman and State Journal Montpelier, VT

Article from Vermont Watchman and State Journal, October 9, 1857

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LIST OF SUSPENDED BANKS TO SEPT. 25TH. Meusam River Bank, Sanford, Maine. Canton Bank, South China, Maine. Ellsworth Bank, Maine. Exchange Bank, Bangor, Maine. Sanford Bank, Sanford, Maine. Exter Bank, New Hampshire. Danby Bank, Vermont. South Royalton Bank, Vermont. Bank of the Republic, Providence, R. I. Bank of South County, Wakefield, R. I. Farmers' Bank, Wickford, R. 1. Mount Vernon Bank, Providence, R. I. Tiverton Bank, Fall River, R. I. Warwick Bank, Warwick, R. I. Merchants' Exchange Bank, Bridgeport, Ct. Colchester Bank, Conn. Bank of Orleans, Albion, New York. Hollister Bank, Buffalo, New York. Niagara River Bank, Tonawanda, N. Y. Oliver Lee & Co.'s Bank, Buffalo, N. Y. Ontario County Bank, Phelps, N.Y. Ontario Bank, Utica, N. Y. Reciprocity Bank, Buffalo, N. Y. Sackett's Harbor Bank, Buffalo, N. Y. American Bank, Trenton, N. J. Bank of New Jersey, New Brunswick, N.J. Bergen County Bank, Hackensack, N. J. Bank of Kanawha, Virginia. Trans-Allegany Bank, Virginia. Bank of Commerce, Georgetown, D. C. Canal Bank, Cleveland, Ohio. City Bank, Cincinnati, Ohio, Seneca County Bank, Tiffin, Ohio. Miami Vally Bank, Dayton, Ohio. Clinton Bank, Columbus, Ohio. Columbus City Bank, Columbus, Ohio. Union Bank, Sandusky, Ohio. Agricultural Bank, Brownsville, Tenn. Bank of West Tennessee. Bank of the Capitol, Indianapolis, Ia. Central Bank, Indianapolis, la. Bank of Elgin, Elgin, Illinois. Rock River Bank, Beloit, Wisconsin. Pennsylvania Bank, Philadelphia. Girard Bank, Phiadelphia. Bank of Canandaiagua, Canandaigua. Western Bank, Lockport, N.Y. Commercial Bank, Philadelphia. Six Penny Savings Bank, Rochester, N. Y. Albany Eve. Journal.

5. October 12, 1857 The Evansville Daily Journal Evansville, IN

Article from The Evansville Daily Journal, October 12, 1857

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DISCREDITED BANKS. The following IS a corrected list. todate, of recen SUSPENDED and DISCREDITED Banks: Arcade Bank, Providence, H I. America Bank, Trenton. N:J., Agricultural Bank, Tenn: Agricultural bar. K; herkiner, N. Y. Bergen County Bank N.J. Bank 01 Canandaigtta, N.Y. do Napervilie, Iii. do Beleville, de Nashville, Tennessee. do do Springfield, Ohio. do Toumseh, Michigan. do Orieans, N.Y. do New Jersey, New Brunswick, N.J. do Kent, R.I. do Halloweit, Me. do America, Tenn. do West Ternessee, Tenn. do Paris, Tenn. do Corning. N.Y. do the South County, R.I. North America, Connecticut. do do Kanawha. Virginia. do Elgin, III., S. S., small circulation. do the Capitol, Indianapolis, Indes. S. do Middleton, Penn. do Watertown, N.Y. des Chester, Li. do Eigin, do do Pike County, Ill. Central Bank, Indianapolis, Ind.,,s. Chemung County Bank, Horse Heads, N.Y.,s.s. Clinton Bank, Columbus, Ohio. Cty Bank, N.J. Cum erland Savings Institute, Md. Commercial Bank, Columbia, S. C. Citizens' Bank, Tenn. Corn Exclusive Bank, III. Charter Oak Bank, Hartford, Conn. Colchester Bank, Com. Danly Bank, Vt. Davton Bank. Ohio. Dairyman's Bank, Newport, N.Y. Ellsworth Bank. Maine. Exeter Bank. N. H. Exchange Bank. Pittsburgh, Pa Exchange Bank. Hartford, Corn. Farmers' Bank of Saratoga Co., N. Y.,s.s Farmers' and Mmmufacturer's Bank, Poughkeepsie. Farmers' Bank, Wickfort, R.1. Farmers & Mechanics' Dabs ent county, Md. Farmers and Merchants' Bar Md. Eairfie County Bank, Nor alk, Ct. Farmers N Arechanics' Buk, Detroit, Mich. Honesdale Bank, Pennsylvania. Hollister Bai k, Buffalo, N. Y.,s.s. Harcock Bank, Maite. Hugenot Bank, N.Y. H pkinton Bank, Westerly. R T. Hamilton Exchange Hank, Hamilton, N.Y. Island is Bank. Yreity, Jefferson 1 anty Bar K. N.Y. Lee Bilik, Massa have ts: Mechanics' Banking Association, N. Y., Mount Verhon Bank, Providence, R. I. Maratine Bar K, Maine. Monson River Bank. Mark Madomb County Bank, Mehigane Mechanics' Banking Association; N. Treity, Morizan Bank, Ga. Miami Valley Bar K, Ohio. Medina Bank, Medina, N.Y. Munson Bank. Mass. M rehants & Manufacturers' Bank, Pittsburgh, Pa. Mercantile Bank. Hardford, Coub. N.Y. Security Bank, N. Y. Nebraska money has been thrown out by St. Louis brokers, excepting the Banks Florence: Niagara River Bank, Tonawanday N.Y., reported failed, S.S. Ontario Bank, Utica, N.Y. Ohio Life Trust Company, lon'tissue rotés: Oliver Lee & co. Bank, N. reported failed, S. S. Ocnee Bank: Tenn. Outario County Bank, Phelps, People's Bank, N.Y city. reported failed, S: S. Paweatuck Bank, Paweatuck. Ct. Port Plain Bank, N. Y..s.s Reciprecity Bank, Buffak, N. YL. frew bank, S. Rhode Island Central Bank, R:1: Sanford Bar K/Me. Sackett's Harber Banks N. South Royalton Bank, It. Seneer County Bank, Ohio. Southern Bank, Georgia. Stock Security Bank, Illinois. Tippecanoe Bank, Logansport, Ind. Tiverton Bank, Fall River, R.I. Union Bank, Frenchtown, N.J. Unadilla Bank, N.Y. Warwick Bank, R. I. Wonster Bank, Danbury, Conn. Warren County Bank, Penn. Yates County Bank, Penn Yan, N.Y. NOTE.-"S. S." means securet by state stock. Most of these Banks will pay their circulation in full, and holders of their bills should not submit to a large discount on them.

6. October 22, 1857 The Wyandot Pioneer Upper Sandusky, OH

Article from The Wyandot Pioneer, October 22, 1857

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SUSPENDED BANKS. Rhode Island. Farmer's Bank Wickford, failed Aug., 25. de " Rhode Island Central, " " Tiverton Bank, " " Warwick, " Sept. 12 Bank of the South County " " 24 Hopkinton Bank, Refuse all Rhode Island money as it is at a discount from 10 to 15 per cent in N.Y. New York City, and State. Sacket Harbor Bank, Failed Aug. 26. Denk