20022. Commercial Bank (Columbia, SC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
October 14, 1857
Location
Columbia, South Carolina (34.001, -81.035)

Metadata

Model
gpt-5-mini
Short Digest
6532483c

Response Measures

None

Description

Multiple contemporary newspaper items (Oct 1857 and Jan 1858) report the Commercial Bank of Columbia as having suspended during the Panic of 1857. The Comptroller General's circular of Jan 12, 1858 explicitly lists the Commercial Bank of Columbia among 'suspended banks', and there is no evidence in the clippings of a reopening—so classified as suspension followed by closure/continued suspension.

Events (2)
1. October 14, 1857 Suspension
Cause
Macro News
Cause Details
Suspension occurred amid the general Money Panic of 1857 and widespread bank distress; part of the statewide/national banking panic and pressure on specie payments (Panic of 1857).
Newspaper Excerpt
Manufactures, caused by Western speculations. And heard the Commercial Bank of Colu had suspended.
Source
newspapers
2. January 12, 1858 Other
Newspaper Excerpt
According to the provisions of the laws of this State, in such case made and provided, the Bills of Suspended Banks are not 'receivable...' ... The Commercial Bank of Columbia is listed among the suspended banks. (Comptroller General circular dated Jan 12, 1858.)
Source
newspapers

Newspaper Articles (10)
1. October 9, 1857 The Evansville Daily Journal Evansville, IN
Article from The Evansville Daily Journal, October 9, 1857

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Article Text

DISCREDITED BANKS. The following is a corrected list, to date, of recen SUSPENDED and DISCREDITED Banks: Arcade Bank, Providence, R I. America Bank, Trenton. N.J., Agricultural Bank, Tenn. Agricultural Bank, Herkimer, N. Y. Bergen County Bank N.J. Bank of Canandaigua, N. Y. do Naperville, III. do Believille, de do Nashville, Tennessee. do Springfield, Ohio. do Tecumsch, Michigan. do Orleans, N.Y. do New Jersey, New Brunswick, N.J. do Kent, R.I. do Hallowell, Me. do America, Tenn. do West Ternessee, Tenn. do Paris, Tenn. do Corning. N.Y. do the South County, R. I. do North America, Connecticut. do Kanawha. V Tirginia. do Eigin, III., S. S., small circulation. do the Capitol, Indianapolis, Ind., S. S. do Middleton, Penn. do Watertown, N.Y. do Chester, III. do Eigin, do do Pike County, III. Central Bank, Indianapolis, Ind., S.S. Chemting County Bank, Horse Heads, N.Y., S. S. Clinton bank, Columbus, Ohio. City Bank, N.J. Cumberland Savings Institute, Md. Commercial Bank, Columbia, S. C. Citizens' Bank, Tenn. Corn Exchange Bank, Ill. Charter Oak Bank, Hartford, Conn. Colchester Bank, Conn. Dan Bank, Vt. Dayton Bank. Ohio. Dairy Bank, Newport, N.Y. Ellsworth Bank. Maine. Exeter Bank. N. H. Exchange Bank, Pittsburgh, Pa Exchange Bank. Hartford, Conn. Farmers' Bank of Saratoga Co., N. Y.,s.s Farmers' and Manufacturer's Bank, Poughkeepsie. Farmers' Bank, Wickford, R.I. Farmers & Mechanics' Bank, Kent county, Md. Farmers and Merchants Bank, Md. Fairfield County Bank, Nor. alk, Ct. Farmers & Mechanics' Bank, Detroit, Mich. Honesitate Bank, Pennsylvania. Hollister Bar k, Buffalo, N. Y., S. Hancock Bank, Maine. Hugenot Bank, N.Y. Hopkinton Bank, Westerly. R T. Hamilton Exchange Bank, Hamilton, N.Y. Island City Bank, N. Y. city. Jefferson County Bank. N. Y. Lee Bank, Massa husetts. Mechanics' Banking Association, N. Y., S.S. Mount Vernon Bank, Providence, R. I. Maratine Bank, Maine. Monson River Bank, Me. Macomb County Bank, Michigan. Mechanics' Banking Association, N. Y.city. Morgan Bank, Ga. Miami Valley Bank, Ohio. Medina Bank, Medina, N.Y. Munson Bank, Mass. Merchants & Manufacturers' Bank, Pittsburgh, Pa. Mercar tile Bank, Hartford, Conn. N.Y. Security Bank, N.Y. Nebraska m ney has been thrown out by St. Louis brokers, excepting the Bank of Florence. Niagara River Bank, Tonawanda, N. Y., reported failed, S.S. Ontario Bank, Utica, N.Y. Ohio Life Trust Company, don't issue notes. Oliver Lee & co. Bank, N. Y.-reported failed, S. S. Ocoee Bank, Tenn. Ontario County Bank, Phelps, N.Y. People's Bank, N. V. city. reported failed, S. S. Pawcatuck Bank, Pawcatuck, Ct. Port Plain Bank. N. Y.,s.s Recipr city Bank, Buffalo, N. Y., new bank, S. S. Rhode Island Central Bank, R.I. Sanford Bank, Me. Sackett's Harbor Bank, N.Y. South Royalton Bank, Vt. Seneca 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. 8." 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.

2. October 12, 1857 The Evansville Daily Journal Evansville, IN
Article from The Evansville Daily Journal, October 12, 1857

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Article Text

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.

3. October 14, 1857 The Lancaster Ledger Lancaster, SC
Article from The Lancaster Ledger, October 14, 1857

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Manufactures, caused by Western speculations. And heard the Commercial Bank of Colu had suspended. 4 was perfectly thu struck at the idea, RS 4 knew it to i of the strongest and most solvent I had. I rose and said, that I would in behalf of the Bank, that it was n that I was acquainted with the ban knew it to be in a state of solvener. to back my statement. I wound give funds for bills or drafts on that Ban take them at par. 80 I heard no more ( matter. I also heard that the South term Rail Road Bank had suspended her TeNer. W. H. Bartless, had deen with $60,000, and had since been and in Wilmiaston, N. C. In New York exists the great Peter meek auctions, which is SO libable to the surplus change of strangers, an this is not the only species of swit practiced there. They have other which prove as successful. In close imity to the real ticket office, they others established and the modus ope by which they work is this: They passing with baggage, hail hit ask him if he wants a ticket : he si course he does they point him to the and tell him he had better be in a hurr his ticket. as the boat is about les and he will miss the through train he does not know where the genuine is, he goes and purchases his ticket charge him $1 50 or $2 extra for each hundred miles, and if he is not familiar the fares, he is swindled to that exter told that hundreds of dollars is each day, in that way. Some of my t ling companions diseovered one of offices and asked the genuine ticket why they were suffered to sell ticket swindle strangers out of their money remarked they were good, they purel them of him and they were making 11 by advancing the fares that the office owned by a prominent Alderman of City : that it could not possibly be pre So much for the morals and swin propensities of Gotham. However, I help thinking that some measures st taken to prevent this mode of sv Nothing of importance occurred reached Philadelphia, there we I the wildest excitement and confusion in consequence of the State Bar Pennsylvania having suspended,and all Banks of importance which has caused hear a total suspension of business. ong such a state of things will exis incertain things look to be in a dep condition at this time. Left Phil hia and passed through Baltimore, w found things in not quite 80 lamen condition, but bad enough, I assure vo of the Banks have suspended thers likely to go the same why. impossible to tell where it will end, no Panie is already heralded throughout Union. it must effect the whole. I am for exceeds the Panic and pressur 837. I got in company with some heavy neco manufacturers, and they say that rop will this year be the largest know ears past, thus confirming my notion hat crop in a form er letter: also the rop in the U. S. will be over an aver he eotten erop will, I think, reach 3 ions, South Carolina being the only ed growing State in the Union, that will nake n full crop, and from my persona ervation, she will more than exceed alf a crop, SO you will perceive tha South is safe as cotton is equal to but mean it will command specie and prod banking facilities. Passed through Washington, Richr Petersburg to Wilmington. N. C. the W. & M. Rail Road for Kings rrived at Kingsville by 5 o'elock P. elegraphed to Camden to hold the exp our transit to our destination, as no on the South Carolina Roads on We put "p as Kingsville for the : where we were hospitably treated by Mr. Whelam, who has always 8 good to eat for weary and hu ravellers in fact we had lived in anti

4. October 24, 1857 Keowee Courier Walhalla, Pickens, SC
Article from Keowee Courier, October 24, 1857

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THE KEOWEE COURIER. The Money Panic. THE HERMITAGE.-Gov. Johnson, of TenPennings and Clippings. The condition of monetary affairs are no nessee, reports the purchase for the State of NEW ADVERTISEMENTS-There are a numbetter. The pressure, in fact, has become the Hermitage, and its tender to the Federal ber of new advertisements in our columns general, and many of our own banks have Government. In case the tender is not acIt is this week, to which the attention of the pubbeen forced to suspend specie payment. The cepted, the Governor recommends that the I am f lic is directed. Bank of Charleston, Union Bank, and the property be retained as a residence for the catego State Bank, in Charleston, and the CommerCorron.-This staple is only now bringing future Governors of the State. theref 12 cents por pound in Charleston. But a few cial Bank, in Columbia, the Bank of Chester, GETTING FRIGHTENED.-Gov. Fletcher, of torial = and the Bank of Newberry, continue to reweeks since it reached as high as 16 cents! Vermont, in his recent message to the Legisladeem their bills in gold and silver. The bills THERE'S AN EXAMPLE FOR You.-A numprogre ture expressed the fear that slavery would be of the suspended banks, however, continue ous, al ber of young ladies in Salem, Mass., having introduced into that State. The Boston Post to be taken as heretofore, and are thought to considered the state of the money market and somet] says that the Green Mountains which make be perfectly good. determined not to pay ten or twenty dollars stand up that State, are in winter white as snow, The extravagant speculation of the people, for a winter bonnet, have set about making that p but Gov. Fletcher is an evergreen. bonnets for themselves. suporinduced by the extraordinary expansion are co of our bank currency, has been the prime CHICAGO, Oct. 12 -A destructive fire broke NUMBER OF BANKS IN THE UNITED STATES. velope cause of the pressure, and inflated the price out yesterday morning in State street, desThe number of Banks in the Union, on Janmake of almost everything to an extent perfectly troying the entire block between Monroe and uary 1, 1857, was 1,255, with 143 branches. banner alarming. Revulsions, sometimes periodical, Adams streets. The buildings were mostly Their capital was $443,874,272; loans and are the fruits of such folly, and, disguise it those frame. The loss by the fire is estimated at discounts, $634,783,280; specie, $59,314,063; as we may, we are now in the midst of one, $125,000. there = circulation, $195,747,950; deposits, $212,705, founde whose pent up fury had best be reckoned by THE LAST OF Ir.-We have to announce an662. The amount of capital employed by distric the death-like inactivity and apathy that now other incident in the Burdell murder case, private banking establishments, without char of the prevail in business circles. which has furnished New York with an exters, was estimated at $118,086,000 man, I The recent monthly statement of the banks oitement that endured unprecedentedly long. worke to the Comptroller General is suggestive of THE LIFE OF NATIONS.-The natural life of Mrs. Canningham, who has been undergoing old ma future difficulty and trouble. The circulanations, as well as of individuals, has its fixtrial, failed to appear at Court on Tuesday, things tion of bills of all the banks of the State is ed course and term. It springs forth, grows and her counsel says he has no knowiedge of men., $7,105,170, and the specie in their vaults, for up, reaches its maturity, decays, perishes. her whereabouts. sician, the redemption of these bills, is set down at have a Con. PRESTON.-The friends of Col. Preston HORRIBLE TRAGEDY IN ARKANSAS.-The $999,3991 The times are pregnant with evils a WA will press his claims for the post of U.S. SenBastrop (Texas) Advertiser of the 23d ult. of almost every character, but none can effect should ator before the Legislature this winter. says that on the 14th, Mrs. IIill, a widow, rethe country SO seriously as the present alarmflag h siding near Berlin, Arkansas, and a negro ing condition of monetary affairs. it a lit BOSTON, Oct. 10.-A stranger stopping at

5. January 14, 1858 Yorkville Enquirer York, SC
Article from Yorkville Enquirer, January 14, 1858

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Circular. OFFICE COMPTROLLER GENERAL, Columbia, January 12, 1858. To the several Tax Collectors of the several Districts and Parishes of the State of South Carolina: According to the provisions of the laws of this State, in such case made and provided, the Bills of Suspended Banks are not "receivable by the Treasurers, Tax Collectors and other public officors in payment for taxes and other moneys due to the State." You will therefore give at least thirty days notice through the public journal of your District, or otherwise, to the Tax Payers of your District or Parish, that the bills of the following Banks will only be received in payment of Taxes due the State, viz: The Commercial Bank of Columbia. The Bank of Charleston. The Union Bank of Charleston. The State Bank of Charleston. The Bank of Georgetown. The Merchants' Bank of Cheraw. The Bank of Camden. The Bank of Chester. You will also receive the Taxes, or any other dues to the State, in the Bills of the Bank of the State of South Carolina. Should any Tax Collector in the State refuse to obey the foregoing instructions, or present at the Treasury any Bills on other Banks than those above named, he will be dealt with according to law. J. D. ASHMORE, Comptroller General.

6. January 21, 1858 The Abbeville Banner Abbeville, SC
Article from The Abbeville Banner, January 21, 1858

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Circular. OFFICE COMPTROLLER GENERAL, ? COLUMBIA, January 12, 1858. 1 the several Tax Collectors of the several I'⁰ Districts and Parishes of the State of South Carolina. According to the provisions of the laws of this State, in such case made and provided, the Bitls, of Suspended Banks are not "receivable by the Treasurers, Tax Collectors and other public officen in payment for taxes and other moneys due to the State." You will therefore give at least thiny days notice through the public journal of your District, or otherwise, to the Tax Payers of your District or Parish, that the bills of the fullowng Banks will only be received in payment of Taxes due the State, viz: The Commercial Bank of Columbia. The Bank of Charleston. The Union Bank of Charleston. The State Bank of Charleston. Tie Bank of Georgetown. "Tle Merchants' Bank of Cheraw. "Tle Bank of Camden. The Bank of Chester. You will also receive the Taxes. or any other ues to the State, in the Bills of the Bank of the tate of South Carolina. Should any Tax Collecr in the State refuse to obev the foregoing inructions, or present at the Treasury any Bills other Banks than those above named, he will dealt with according to law. J.D. ASHMORE, Comptroller General 38 4t 2, 1858.

7. January 27, 1858 The Lancaster Ledger Lancaster, SC
Article from The Lancaster Ledger, January 27, 1858

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Circular. OFFICE COMPTROLLER GENERAL COLUMBIA, January 12, 1858. T the several Tax Collectors of the sev. Dictricts and Parishes of the State of South Carolina. According to the provisions of the laws of this State, in such case made and provided, the Bills of Suspended Banks are not "receivable by the Treasurers, Tax Collectors and other public officers in payment for taxes and other moneys due to the State." You will therefore give at least thirty days notice through the public journal of your District or Parish. that the bills of the following Banks will only be received in payment for Taxes due the State, viz : The Commercial Bank of Columbia. The Bank of Charleston. The Union Bank of Charleston. The State Bank of Charleston. The Bank of Georgetown. The Merchants' Bank of Cheraw. The Bank of Camden. The Bank of Chester. You will also receive the Taxes, or any other dyes to the State, in the Bills of the Bank of the State of South Carolina Should any Tax Collector in the State refuse to obey the foregoing instructions, or present at the Treasury any Bills on other Banks than those above named, he will be dealt with according to law. J. D. ASHMORE. Comptroller General. January 12, 1858. 50-4t.

8. January 28, 1858 The Abbeville Banner Abbeville, SC
Article from The Abbeville Banner, January 28, 1858

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Circular. OFFICE COMPTROLLER GENERAL, 1 COLUMBIA, January 12, 1858. $ the several Tax Collectors of the several T° Districts and Parishes of the State of South Carolina. According to the provisions of the laws of this State, in such case made and provided, the Bills, of Suspended Banks are not "receivable by the Treasurers, Tax Collectors and other public offieers in payment for taxes and other moneys due to the State." You will therefore give at least thirty days notice through the public journal of your District, or otherwise, to the Tax Payers of your District or Parish, that the bills of the following Banks will only be received in payment of Taxes due the State, viz: The Commercial Bank of Columbia. The Bank of Charleston. The Union Bank of Charleston. The State Bank of Charleston. The Bank of Georgetown. The Merchants' Bank of Cheraw. The Bank of Camden. The Bank of Chester. You will also receive the Taxes. or any other dues to the State, in the Bills of the Bank of the State of South Carolina. Should any Tax Collector in the State refuse to obey the foregoing instructions, or present at the Treasury any Bills on other Banks than those above named, he will be dealt with according to law. J. D. ASHMORE, Comptroller General. Jap. 12, 1858. 38 4t,

9. February 4, 1858 The Abbeville Banner Abbeville, SC
Article from The Abbeville Banner, February 4, 1858

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Circular. OFFICE COMPTROLLER GENERAL, , COLUMBIA, January 12, 1858. i T the several Tax Collectors of the several Districts and Parishes of the State of South Carolina. According to the provisions of the laws of this State, in such case made and provided. the Bills, of Suspended Banks are not "receivable by the Treasurers, Tax Collectors and other public officers in payment for taxes and other moneys due to the State." You will therefore give at least thirty days notice through the public journal of your District, or otherwise, to the Tax Payers of your District or Parish, that the bills of the following Banks will only be received in payment of Taxes due the State, viz: The Commercial Bank of Columbia. The Bank of Charleston. The Union Bank of Charleston. The Staffe Bank of Charleston. The Bank of Georgetown. The Merchants' Bank of Cheraw. The Bank of Camden. The Bank of Chester. You will also receive the Taxes, or any other dues to the State, in the Bills of the Bank of the State of South Carolina. Should any Tax Collector in the State refuse to obey the foregoing instructions. OF present at the Treasury any Bills on other Banks than those above named, he will be dealt with according to law. J. D. ASHMORE, Comptroller General. 38 Jan. 12, 1858. 4t

10. February 10, 1858 The Lancaster Ledger Lancaster, SC
Article from The Lancaster Ledger, February 10, 1858

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Circular. OFFICE COMPTROLLER GENERAL COLUMBIA, January 12, 1858. T the several Tax Collectors of the seve Dictricts and Parishes of the State of South Carolina. According to the provisions of the laws of this State, in such case made and provided. the Bills of Suspended Banks are not "receivable by the Treasurers, Tax Collec tors and other public officers in payment for taxes and other moneys due to the State." You will therefore give at least thirty davs notice through the public journal of your District or Parish. that the bills of the following Banks will only be received in pay. ment for Taxes due the State, viz: The Commercial Bank of Columbia. The Bank of Charleston. The Union Bank of Charleston. The State Bank of Charleston. The Bank of Georgetown. The Merchants' Bank of Cheraw. The Ba: k of Camden. The Bank of Chestsr. You will also receive the Taxes, or anv other dues to the State, in the Bills of the Bank of the State of South CarolinaShould any Tax Collector in the State refuse to obey the foregoing instructions, or present at the Treasury any Bills on other Banks than those above named, he will be dealt with according to law. J. D. ASHMORE. Comptraller General. January 12. 1858. 50-4t.