Selden, Withers & Co. - Washington, DC

Bank Information

Episode Type: Suspension → Closure
Bank Type: private
Start Date: *
Location: Washington, District of Columbia (38.895, -77.036)

Metadata

Model: gpt-5-mini
Short Digest: c25d83a4

Response Measures

None

Description

Article (Evening Star, 1856-08-06) refers to the failure of the house of Selden, Withers & Co., of Washington city. No mention of a depositor run; wording indicates the firm failed (closed). Exact date of failure not given in the article.

Events (1)

1. * Suspension

Cause: Bank Specific Adverse Info
Cause Details: Article states the house 'failed' (firm insolvency/closure); no run reported as cause or consequence.
Newspaper Excerpt: the failure of the house of Selden, Withers & Co., of Washington city.
Source: newspapers

Newspaper Articles (1)

1. August 6, 1856 Evening Star Washington, DC

Article from Evening Star, August 6, 1856

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Article Text

MR. LATHAM AND THE PITTSBURG AND SreeBENVILLE RAILROAD -Mr. Latham arrived here on Monday last, in company with Mr. John S. King, one of the contractors, to complete the Pittsburg and Steubenville railroad. At a meeting of the Board yesterday, in socordance with a previous arrangement, Mr. Isaac Jones. the President of the Company, voluntarily resigned his office, to take effect on the 1st October, and Mr. Latham was unanimously elected President of the Company, as a reward for the important services which he has rendered in bringing to a successful termination the contract to finish, equip and run the road. We learn that Mr. Latham has been acting as an assistant in the banking house of John Thompson, Esq., New York, nearly ever since the failure of the house of Selden, Withers & Co., of Washington city. In the failure of Selden, Withers & Co., Mr. Latham's reputation as a negotiator and financier had suffered very materially, but whatever damage it may have sustained by the unfortunate suspension of that house has been fully repaired by his able and successful initiation and prosecution of the contract which he has made to complete the Pittsburg and Steubenville Railroad. It is evident that none but an energetic, patient and skillful negotiator, could have made this contract, reconciling the conflicting and jarring interests by which the road was surrounded. We understand the work will he commenced in a few days, with a strong force of men, and all, except the bridges, will be finished in December Pittsburg paper, 27th.