Bank of Commerce - Fredericksburg, VA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: August 1, 1871
Location: Fredericksburg, Virginia (38.299, -77.487)

Metadata

Model: gpt-5-mini
Short Digest: e97e6300

Response Measures

None

Description

Article (Alexandria Gazette, 1871-07-21) states the Bank of Commerce 'formerly doing business in Fredericksburg, will wind up its affairs on the 1st of August...'. No run reported; the bank is winding up and its notes will become worthless after that date, consistent with permanent closure/voluntary liquidation.

Events (1)

1. August 1, 1871 Suspension

Cause: Voluntary Liquidation
Cause Details: Bank is to wind up its affairs under authority of the Legislature; circulating medium to become worthless after that date, indicating liquidation/closure.
Newspaper Excerpt: The Fredericksburg Herald says:-The Bank of Commerce, formerly doing business in Fredericksburg, will wind up its affairs on the 1st of August, proximo, under authority from the Legislature.
Source: newspapers

Newspaper Articles (1)

1. July 21, 1871 Alexandria Gazette Alexandria, VA

Article from Alexandria Gazette, July 21, 1871

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Article Text

VIRGINIA NEWS. Passengers by the New York river route from Baltimore report the severest storm on Tuesday night which has occurred in the Chesapeake bay for many years. While the storm was at its heighth, about three o'clock the steamer State of Virginia, Captain Freeman. collided with a schooner loaded with lumber bound from Crisfield to Philadelphia. The schooner was SO much damaged that she sank very soon, although every effort was made by Captain Freeman and his men to save her.Her crew were all taken board the steamer before she went down. At the meeting of the Piedmont Agricultural Society held at Culpeper C. H. on the 19th, Gov. Wm. Smith, resigned his position as President; the election of his successor was postponed. Maj. Stanard resigned his position as Secretary, and Mr. L. L. Lewis was elected in his place. It was resolved to hold a Fair at Culpeper this fall. There was a disagreement relative to the location of the Fair Groundssome wanting it at Culpeper others at Warrenton. A correspondent of the Richmond (Va.) Whig, writing from Waynesboro', Augusta county, says: - "The largest and richest vein of iron ore ever discovered in this State was found a few days ago on the farm of Mr. J. at this Dorsey Ridge, near Hanger, lying place, measuring the base of the thirty-six Blue feet wide. There are also three other smaller veins running parallel, from five to ten feet apart. The Fredericksburg Herald says:-The Bank of Commerce, formerly doing business in Fredericksburg, will wind up its affairs on the 1st of August, proximo, under authority from the Legislature. All of its circulating medium will be worthless after that date. Now, their issues are worth dollar for dollar in greenbacks. There are some $6,000 worth still outstanding. A letter from Beaver Dam Depot. in Hanover county, says: "No farmer in this portion of the county has made more that four bushels of wheat per acre. and at least three fourths of them average only three bushels per acre and some only one and a half and two bushels per acre. The Richmond correspondent of the Petersburg Index, writes that "Lewis, the murderer of Drummond, in Brunswick, county has undeniably suffered a total loss of mind. The Sergeant of our jail in which he is confined, believes that softening of the brain has set inand his condition is now bordering on idiocy. The steamer Norfolk, of the line from Richmond to Philadelphia, passed through Dutch Gap canal on her last trip out from Richmond, saving a little more than seven miles between Richmond and City Point. The Frederiedsburg Herald says:-A colored man living in King George county shipped last week 100 watermelons at Boyd's Hole to Washington, and received $125 for the ship ment. Bishop Early's health has much improved lately, and he is now able to leave his home after a confinement to the house for several months. The themometer at the White Sulphur Springs yesterday was at 66 at noon. and at sunset at 60, and visitors had fires in their rooms. The Dental Association is to be held at the White Sulphur Springs on the first Tuesday in August.