21150. Galveston Bank (Galveston, TX)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
October 31, 1857
Location
Galveston, Texas (29.301, -94.798)

Metadata

Model
gpt-5-mini
Short Digest
1dbc8b01

Response Measures

Accommodated withdrawals

Other: Bank paid its notes in specie but 'refused depositors' temporarily pending news from New Orleans; repeated in multiple papers.

Description

Multiple contemporaneous newspapers (late Oct/early Nov 1857) report a run on the Galveston Bank that had subsided. The bank continued to redeem its notes with specie but temporarily refused payments to depositors until it could receive news from New Orleans. There is no mention of a suspension, receivership, reopening, or permanent closure in these articles. Cause is not specified in the reports, so classified as 'other'.

Events (1)

1. October 31, 1857 Run
Cause Details
Contemporary reports note a run occurred but do not state a clear trigger; articles only say payments to depositors were delayed pending news from New Orleans.
Measures
Redeemed its notes in specie; temporarily refused payments to depositors pending news from New Orleans.
Newspaper Excerpt
The run upon the Galveston Bank had subsided. The bank continued to redeem its notes with specie, but refused depositors until it could receive news from New Orleans.
Source
newspapers

Newspaper Articles (8)

Article from The New York Herald, November 1, 1857

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Article Text

Affairs in Texas. WASHINGTON, Oct. 31, 1857. From Texas we learn that Major McCulloch denies any complicity with Nicaraguan affairs. The run upon the Galveston Bank has subsided. The bank continued to redeem its notes with specie, but refused depositors until it could receive news from New Orleans. The News says that the sugar crop in Brazoria was between 1,500 and 2,500 hogsheads. The cotton crop in the same county promises a full average.


Article from The Evansville Daily Journal, November 2, 1857

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! TELEGRAPHIC TELEGRAPHED EXCLUSIVELY TO THE EVANSVILLEDAILYJOURNAL Washington Items. WASHINGTON, Oct. 31-M The New Orleans papers received by the Southern mail furnish later Mexican intelligence. Rumors of the retirement of President Comonfort are again rife. The present Government appears to be strong in the confidence of the people. Senor Girsiche, Engineer of the Vera Cruz & City of Mexico railway, is about to organize his corps in the United States. The success of Alvarez is confirmed. Eighty of a gang of bandits have been captured near Tehi and will all be shot. Late Texas dates have also been received. Mr. McCulloch denies all complicity with the Nicaraguan affair. The run on the Galveston Bank had subsi ded. Specie was still paid out for notes but payments to depositors were delayed until advices could be received from New Orleans. The News says that the sugar crop of Brazoria county will be between 1500 and 2500 hhds. The cotton crop of the same county will be a full average. The bark Clara arrived at New Orleans, with $35,000 in specie. The fever continues fatal at Jacksonville. At the latest accounts there had been fifty deaths since the 1st of October. The Court had adjourned over, and a day of fasting and prayer had been observed. The streets were deserted. The Government has received no official information from Gov. Walker relative to his purging the polls of the Oxford district, and until this is received there can be no definite action by the President. It is certain that the violation of his instructions will not be permitted to go unnoticed, and that the executive disapprobation will be expressed, there is reason to believe in a manner which may lead to the resignation of Walker and Stanton.


Article from New-York Daily Tribune, November 2, 1857

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FROM MEXICO AND TEXAS. WASHINGTON, Saturday, Oct. 31, 1857. By the arrival of the Southern mail we have detailed news from Mexico. Tbe old rumors of the retirement of President Comonfort are again rife. The present Government appears to be strong in the confidence of the people. Sehor Goreuch, Chief Engineer of the Vera Cruz and Mexico Railway, is about to organize a corps in the United States. Alvarez's success had been confirmed. Eighty bandits had been captured at Tepec, and all of them would be shot. From Texas, we learn that Major McCulloch denies any complicity with Nicaraguan affairs. The run upon the Galveston Bank had subsided. The Bank continued to redeem its notes with specie, but refused depositors until it could receive news from New-Orleans. The News says that the sugar crop in Brazoria was Detween 1 ,500 and 2,500 hogsheads. The cotton crop in the same county promises & full Overage. The steamship Isabel, at Charleston, brought the mails from St. Thomas. On the passage she experionced a gale which lasted thirty-seven hours. She spoke the schooner Mary C. Turbell, from New-York for Texas The bark Cornelia from New-York arrived at Havana OR the 25th inst. After the first of January, vessels bringing cargoes to the Island and taking away molasses will be compelled to pay duties on tunnage. In Key West the general health was good-the yellow fever having entirely abated. The British brig Beile, before reported ashore, is a total loss. The fever continues to be fatal in Jacksonville. At the latest accounts there had been fifty deaths there since the 1st of September. The Court had adjourned Over; 6 day of fasting and prayer had been kept; and the streets were entirely deserted. The bark Clara, from Havana, brought $33,000 in gold to New-Orleans.


Article from Daily Iowa State Democrat, November 3, 1857

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BY GEORGE R. WEST. LATEST NEWS ATE DEMOCRAT. Important from Washington. VENPORT, NOVEMBER 1857. Washington, Oct. 31. Previous to the election in Kansas. Local Affairs. Gov. Walker received specific instruc tions from the administration relative MAIL ARRANGEMENTS. ARRIVALS. to his duty on that subject, and which tern(viaChicago)twice dailyex Sun'y,8 A M&6 precluded him from purging the polls alineand lowacity) daily as he recently did, in rejecting the rethere (via Dubaque) daily at there (St Louis) daily turns from the Oxford precinct. He there Camanche LeClaire, &c, Tuesand Saturday a acted without authority from Washthere via Maquoketa. DeWitt, & Tues. ington, and clearly violated the insday, Thursday and Saturday at tructions sent to him, and his conduct DEPARTURES R. R. TIME. emphatically condemned. 81-2AX ern (via Chicago) closes thern (Dubeque) There is reason to believe that both there (At Louts) (Muscation and Iowa city) closes Gov. Walker and Sec'y Stanton will thern (Camanche, L/Claire, &c, closes be removed, unless they shall choose Sunday, Tuesday and Thursday at thern (Maquokets and DeWitt closes to resign. day, Tuesday and Thursday at [Not a word of truth in the above dispatch; the governor and secretary Blanks Blanks! have full power to declare who VK have just printed and for sale very fine forms been elected.- Times.] of the following planks at Deeds, Trustee's Deeds, Washington, Oct. 31. Quit Claim Deeds, Chattel Mortgages. Trusse Confessions Natus, of Herald correspondence. Secretary Judgement and Justice's Blanks. Lloyd was telegraphed for, his presence having been desired at the Cabine COLD.-Though very pleasent, yesmeeting to be held next Monday, rel day must be set down as having a wintive to Gov. Walker and his proclam tendency. tion, which will be consured by the ministration as in direct violation PROPHECY.--There is a storm brewSept. 8th. He had no authority sit. Look out for a large quantity of mis ever to pronounce upon the legal of aneous weather about this time." No votes, and was specially instate ponement on account of bad travelling. to receive the returns, and let t legso islature determine upon their aracSSRS. DIAL & MONGER have removIter. The friends of Gov. Walk say heir office to Nicholis old stand, where he has committed an error. the will attend to all business in their line wonder is that he has commit only one, aud that after acknow eling his their usual promptness and care Par reprimand, will let his name to the entrusting business to them will leave Senate, If the fire eaters close to regood hands, gret him, then he will be ir position to defend himself and the ministraCAVED, RATHER.-The coal hucktion. 4 grew beautifully less on the street yes The Southern members the Cabay. The people have expressed a deet inet apprehend that thimistake of determination not to pay sixteen cents Gov. Walker will re Kansas bushel for coal when they can get it for fight in the South, and b g the whole ve and one-half Strange, isn't it subject before Congress Our Government will glad to learn 10RE CRNITURE. Several loads of that it is in contemplatn to transfer furniture was unloaded before Arrison Gen. Robles the Milican Minister Furniture Rooms yesterday. Don't here, to England. i up any longer, for want of chairs, or Application was mg to-day for the on the floor for want of bedsteads employment of the S. troops on keep a fine stock, and sell on good Wednesday next, tossist if necessary, 8. with the State authities of Maryland for preserving peaciat the election in most heartfelt thanks Baltimor. Definie action was not hereby tendered to friend Kent, for the taken, though it islighly probable that wal of a brace of nice fat ducks, W. the redest will b refused he will live to be four sore and tenSir Vm. GoreOusley is expected on fat ducks, and have plenty of them to arrie in Washington about the 15th onate to hungry editors. old bachelof Noember, and it is believed that and others can find all kinds of game his instructions will be such as will d up in good style at the Woodcock lead , the adjustment of the Central n. Call and order your disher, gentleAmdean question in a manner entirely disiactory to the United States goverment. REAT SALE OF CATTLE,- The great storney General Black as given an on sale cattle, at Dr. Langer's farm opinon that the government of the United States has ample power and is netices to-day. Here is the most rare stipulation bound to redress rtunity ever offered to the citizens of the wrongs of the Kansas nation of Into purchase a good quality of stock dians, and to protect them against anmoney is scarce, but to meet this ex Jawful intruders upon their reserved y, long credits will e given to those lands. wish to purchase largely. This is: The amount in the Treasury, subject um stock-well selected. and is just to draft is 89,802,000. The receipts ind for every farmer to keep, Let for the week ending Monday last were e well attended. $441,000. In reply to a postmaster who comIANGE OF TIME.-The Mississppi plained of being overwhelmed with lissouri Railroad have changed their small change, First Assistant P. . Genas will be seen by advertisement, Un eral King says A postmaster is not a ther notice, the trains will move compelled to receive cents in payment vs either of postage or stamps, or from ing West. the morning train will cave any one person at any one time, more evening train, 6:15 than 30 cents in three cent pieces, ing East. the morning train leave at The P. M. General has appointed evening train at 6:25. six route agents to accompany the e eastern trains arrive in this city at mails between Philadelphia and Col. M. and.6.50 P. M. umbus, Ohio, with a view to secure ins from the west arrive here At 9.35 their prompt transmission. and 6:15 1st M. From MEXICO AND TEXAS. By the arrival of the southern mails OURSE OF LECTURET,-Weare we have petailed news from Mexico. know that our citizens are to be treaThe old rumors of the retirement of vita another course of Lectures the en President Comonfort are again rife.-winter. The [communication The present government appears to be 1. M Price, Esq., President of the strong in the confidence of the people. ng Men's Literary Association, publishSenor Garsuch, chief engineer of the I yesterday's edition, sets forth some Vera Cruz and Mexico railway was rtant facts which should be well con about to organize a corps in the Unied by he citizens of Davenport. The ted States. ciation 4 been struggling under many The success of Alvarez has been conulties which the citizens can easily re firmed. e and put theraselve to any serious Eighty banditti had been captured ble. All that is asked is, that they at Pepee, aud all of them would be out to hear the lecturers provided, and shot. matter is accor plished at once. The From Texas we learn that Major Mcres last winter were unavoidably illCullock denies any compheity with lucted, and als meagerly supported by Nicaraguan affairs. public. Of thathere is no question The run upon the Galveston Bank we have hopes for the future. The Ashad subsided. The bank continued to tion, it appears, is willing to try again, redeem its notes, but refused its deposleave the fate of this invaluable instiitors specie till it could receive news n to the decision of our citizens, There from New Orleans. rely literary taste enough in this city to The News says that the sugar crop ort an annual course of lectures, but in Brazonia was between 1,500 and question is, will they do it? This will 2,500 hhds. The cotton crop in the be decided-to their honor or dis same county now promises a full average. After the first of January, vessels HE SILENT SYSTEM.-Mdle. Rachel bringing cargoes to the Island and taks the Pays) has installed herself in ing away molasses, will be compelled house which has been prepared for to pay duty on its tonnage. near Cannes, and in which she is The Excitement in Baltimore. ass the winter. A celebrated phys-


Article from True American, November 4, 1857

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By Telegraph. From Washington. Washington, Oct. 31.-The New Orleans papers received by the southern mail, furnish details of the Mexican inteligence, of which an abstract has been published. The old rumors of the retirement of President Comonfort are again rife. The present government appears to be strong in the confidence of the people. Eighty of a gang of banditti have been captured near Topi, and will all be shot. Late Texas dates have also been received. Mr. McCullough denies all complieity with the Nicaraguan affairs. The run on the Galveston Bank had subsided. Specie was still paid out for notes, but payments to depositors was delayed until advices would be received from New Orleans. The News says that the sugar crop of Brazoria county will be between 1500 and 2500 hhds. The cotton crop of the same county will be afull average. The fever continues fatal at Jacksonville. At the latest accounts there had been fifty deaths since the first of October. The court had adjourned over, and a day of fasting and prayer had been observed. The streets were deserted. It is due to Gov. Ligon to say that the application for the contingent use of the federal forces at the Baltimore election was made by a committee from that city. His name was not mentioned in the dispatch to the associated press. The Government has received no official information from Gov. Walker, relative to his purging the poll of Oxford district, and until this be received there can be no definite action by the administration. It is certain that the violation of his instructions will not be permitted to go unattended, and that the executive disapprobation will be expressed, there is reason to believe, in a manner which may at least lead to the resignation: of W alker and Stanton,


Article from Holmes County Republican, November 5, 1857

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From Washingtom Washington, Oct. 31. Application was made to-day for the employment of the U.S. troops on Wednesday next, to assist, it neecessary, with the State authorities of Maryland. for preserving. peace at the election in Baltimore. Definite action was not taken, though it is bighly probable that the request will be refused. Sir Wm. Gore Ousley is expected to arrive in Washington about the 15th of November, and it is believed that his instructions will be such as will lead to the adjustment of the Central America question in a manner entirely satisfactory to the U. S. government. Attorney Gen. Black has given an opinion that the Government of the U. S. has ample powers, and is by treaty stipulation bound to redress the wrongs of the Kansas nation of Indians, and to protect them against unlawful intruders upon their reserved lauds. The amount in the Treasury subject to draft, is $9,802,000. The receipts of the week ending Monday last were $441,100. In reply to a Post Master who had complained of being overwhelmed with small change, First Ass't P. M. Gen. King says: "A Postmaster is not compelled to receive cents in payment either of postage or of stamps, or from any one person at any one time, more than 30 cents in 3 cent coin." The P. M. General has appointed six route agents to accompany the mails between Philadelphia and Columbus, Ohio, with a view to insure their prompt transmission. By the arrival of the Southern mails we have detailed news from Mexico. The old rumors of the retirement of President Comfort are again rife. The present government appears to be strongly in the confidence of the people. Senator Gorsuch, Chief Engineer of the Vera Cruz and Mexican Railway was about to organize a corps in the United States. Alvarez's success has been confirmed. Eighty bandits had been captured at Pepee, and all of them would be shot. From Texas we learn that Maj. McCollough denies any complicity with Nicaraguan affairs. The run on the Galveston Bank had subsided, and the Bank continued to redeem its notes, but refused to depositors specie till it could recieve news from New Orleans. The "News" says that the sugar crop in Brazonia was between 1500 to 2500 hhds. Cotton crop in the same country promises a full average After the 1st of January, vessels bringing cargoes to the Island and taking away molasses, will be compelled to pay duty on its tonnage.


Article from The Abbeville Banner, November 5, 1857

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Further by the Persia.-The details of the Indian mail concur in the belief that prospects are more cheering. and it is confidently believed that the next mail will bring intelligence of the capture of Delhi. The mutineers there are said to be nearly exhausted, and are fast leaving the city. A circular from the Colonial Office has been addressed to the governors of the British colonies. ordering them to look to the defence of their provinces, and not to neglect reasonable warke preparations. It is reported that the cholera is raging in a village near London. The ship Prince George, from Mobile, was abandoned at sea on the 4th instant. Her crew arrived at Queenstown, Ireland. Baltimore City Affairs.-BALTIMORE, Oct. 31. -The City of Baltimore is to be placed under martial w. Gov. Ligon yesterday morning issued a proclamation to this effect, and ordering out two divisions of troops. About 7,000 men and their commanding officers are ordered to enrol at once and report for service by to-morrow, and hold themselves in readiness to preserve the peace on the day of the general election, which takes place on Wednesday next. This step is taken contrary to a desire of the Mayor, but at the desire of a number of citizens. A great degree of excitement has been aroused in the city by the announcement, and a correspondence has taken place between the Mayor and the Governor on Mexican and Texas News.-W ASHINGTON, Nov. 2.-Rumors of the retirement of President Commonfort are again rife. Lenor Gorsuch, Chief- Engineer of the Vera Cruz and Mexico railway, is about to organize a corps in the United States. Alveroz's success has been confirmed. Eighty bandits had been captured at Tepec, and all of them will be shot. From Texas we learn that Major McCulioch denies any complicity with Nicaraguan affairs. The run upon the Galveston Bank had subsided. The bank continued to redeem its notes with specie, but refused depositors until it could receive news from New Orleans. Pressure in the Horse Market.-The New York Tribune states that the derangement of the money market has had a most disastrous effect upon the market for horses. Horses which cost their owners seven hundred and fifty dollars were sold lately for one hundred and seventy five dol lars in that city. Another horse, which a year ago had a standing offer of one thousand hundred dollars, was sold for three hundred dollars; and a handsome bay, for which six hundred dollars was paid last summer, and not considered dear at that, brought but one hundred and twenty-five dollars a few days ago. The Disunion Convention.CLEVELAND, Thurs. Oct. 30.-The Disunion Convention is still in session, but there is nothing of any interest doing. The attendance is not large. The body will adjourn to day.


Article from The Ottawa Free Trader, November 7, 1857

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From Texas we learn that Major McCulloch denies any complicity with the Nicaraguan affairs. The run on the Galveston Bank had subsided. The bank continued to redeem its notes, but refused its depositers specie till it could receive news from New Orleans. The News says that the sugar crop in Brazonia was between 1,500 and 2,500 hhds. Cotton crop in the same county promises a full average. After the 1st of January, vessels bringing cargoes to the island and taking away molasses, will be compelled to pay duty on its tonnage.