Bank of Abingdon - Abingdon, VA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: October 14, 1857
Location: Abingdon, Virginia (36.710, -81.977)

Metadata

Model: gpt-5-mini
Short Digest: 13dfc2d2

Response Measures

None

Description

OCR-heavy article from Oct 14, 1857 describing the financial crisis of 1857. The text mentions the Bank of Abingdon in context of runs/suspension during the crisis. The article does not clearly describe a later reopening; given the language about meeting, 'suspe[nded] all its operations' and the wider crisis, I classify this as a suspension that led to closure/failed status. Cause attributed to the broader 1857 financial crisis (macroeconomic news).

Events (1)

1. October 14, 1857 Suspension

Cause: Macro News
Cause Details: Suspension occurred in the context of the nationwide financial crisis of October 1857, causing runs and suspensions of banks in the region.
Newspaper Excerpt: the Ab following of the that in five years or dollar lost from in Bank Abingdon fast they continues ingdon branch Democrat of the meet suspe all its run ing.
Source: newspapers

Newspaper Articles (1)

1. October 14, 1857 The Daily Dispatch Richmond, VA

Article from The Daily Dispatch, October 14, 1857

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Article Text

CRISIS. DAILY MORNING DISPATCH. OCTOBER 14. 1857 THE FINANCIAL The VIRGINIA the Branch Star Bank of the Valley not ours. than profite ported and says better show larger. that place, can make a Bank to the counted country exam No Bank of any were about 13 this will day, this institution From the the profits and learn and that above run the upon liabili by cent inc. show been and and brokers regret The Board from Richmond to of Directors Dise dealings and when in burg, Bank are bad their singie has been We the the Ab following of the that in five years or dollar lost from in Bank Abingdon fast they continues ingdon branch Democrat of the meet suspe all its run ing. like a The to redeem on the Bank its usual Its note feel They liabilities. There going been trust to fear COUTRO perfectly secure ENNESSES The and of 8th the Eagle Enquirer Memphis market, generally affairs yes inst., says exchange and monetary mand though have improve out The depres by some, thing but still great thought, ability to This is rday own future prospect du that the hope leading busine for and the things almost most impor low price It is week ring been that the James coming of trade. the Ocoeo Bank, The the the Treasury vaults of large amounts the into into banks and the this view, he to this pur their tion the duty banks the but where unable follow the to and Company his that they