21714. Bank of Portsmouth (Portsmouth, VA)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
August 16, 1855
Location
Portsmouth, Virginia (36.835, -76.298)

Metadata

Model
gpt-5-mini
Short Digest
cb5ef088

Response Measures

None

Description

Newspaper accounts from Aug–Sep 1855 describe banking business in Portsmouth being suspended because of a severe yellow fever epidemic that depopulated the town. No runs are described; articles say offices were removed or closed and banking business is suspended. One item (Sep 28) says the bank... has been closed altogether, but this appears to be an episodic closure due to the epidemic rather than a formal failure/receivership. I classify this as a suspension with an expected reopening rather than a permanent failure (no mention of receivership or takeover).

Events (3)

1. August 16, 1855 Other
Newspaper Excerpt
The office of the Savings Bank has been removed to the residence of Geo. M. Bain, Esq., Cashier.
Source
newspapers
2. August 16, 1855 Suspension
Cause
Local Shock
Cause Details
Severe yellow fever epidemic in Portsmouth and Norfolk caused depopulation and suspension of normal business, including banking offices being removed or closed.
Newspaper Excerpt
Every director of the Bank of Virginia is out of town except two, and therefore all banking business is suspended.
Source
newspapers
3. September 20, 1855 Other
Newspaper Excerpt
Portsmouth has suffered if possible, worse than Norfolk. The bank over there has been closed altogether.
Source
newspapers

Newspaper Articles (4)

Article from Evening Star, August 17, 1855

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Article Text

The Current Operations of the Treasury Department.-Onyesterday, the 16th August, here were of Treasury Warrants entered on the books of the Department$1.167 83 For the redemption of Stock 24,176 51 For the Treasury Department 441 398 30 For the Interior Department For the Custons 54,766 83 War Warrants received and ontered 67.559 00 Drawn on account of the Navy 403,831 53 Repay Warrants on account of the Navy 207,956 18 Covered in from Customs 10 00 The Yellow Fever. From Norfolk and Portsmouth we hear of the greatest distress consequent upon the ravages of the yellow fever. Such is the alarm existing that Portsmouth is nearly depopulated, and the citizens, as well as those from Norfolk, are encamping in the woods adjacent, not being able to get further away from the infected and distressed towns. Some idea may be formed of the condition of affairs there. when it is stated that previous to the fever there were in Portsmouth, Gosport, &c., about Tourteen thousand inhabitants, which number is now reduced to (as the telegraph asserts) not more than fifteen hundred; and in Norfolk to about one-half-upward of nine thousand having left. This exodus, we learn, was recommended by the physicians in view of the spread of the disease, their advice being to every healthy family, "Get away as fast as you can, and leave no material for the disease to work upon." Although this course was deemed unwise at the beginning, it is now believed to have been the very best, as in a short time the two places were hemmed in by the quarantine regulations of neighboring towns and hamlets, and there was imminent danger of death by starvation if one escaped the fever. The only counties which have extended the hand of friendship to those who fled from their homes are Accomac and Northampton, on the Eastern Shore of Virginia, and Gloucester and Matthews on the opposite side of Chesapeake bay. Letters from Portsmouth and Norfolk teem with praises of Hon. Henry A. Wise and other citizens of those counties, who have not only thrown open their houses to the distressed, but have erected temporary residences for their accommodation. In Norfolk and Portsmouth, the greatest difficulty was experienced in procuring nurses; the negroes refusing to act in that capacity at $10 per night. $5 per night had been paid for the service. There was but one member of the Norfolk City Council in the city. Several deaths have been published in the city papers which were entirely erroneous. Captain Bowden, cashier of the Virginia Bank, is quite sick, but not of fever. Every disease is styled the fever. The people are decidedly more cheerful since they have gotten rid of most of their fellow citizens. The post office in Norfolk has been removed to the grounds in the upper part of the city. The office of the collector of customs, and the wholesale merchants' offices have also been removed from the lower or infec ed district; and Cain's hotel has been closed. In Portsmouth, Dr. J. N. Schoolfield is doing well-out of danger. Mr. John Emmerson is at the Naval Hospital very sick; his brother Arthur, clerk of the Court, is attending on him; he is very well. The clerk's W. office in Portsmouth is closed. Mr is fard, Palmer, Purser's clerk in the Navy sick; he is reported as having the fever. Mr. George Chambers, reported as sick, is well. Mrs. George W. Chambers is fast recovering. Considering the few persons now there the mortality from the fever is alarming. The office of the Savings Bank has been removed to the residence of George M. Bain, Esq., Cashier. Every director of the Bank of Virginia is out of town except two, and therefore all banking business is suspended. The business of the navy yard is still continued, though over one thousand workmen have taken their discharges. Commodore McKeever, however, announces his intention to keep the yard open as long as there is a workman to strike a blow. The following deaths, among others, have recently occurred Lewis Roach, Susan Kemp, Mrs. Ripley, Mrs. Bowen, Jeffrey James, Mrs. Lauretta Potter, Mrs. Donohue, Miss Lattimer, and Thomas Herbert. The correspondent of the Petersburg Express says: There is much suffering among the poor sick, and we shall most gratefully appreciate the kind exertions being made in Petersburg for us. We are greatly in want of breadstuff, particularly of meal, and a supply would be very acceptable. Our town authorities are doing all they can; but the scourge is so wide spread that it is beyond their capacity to afford relief to all who are its subjects. We have to take care not only of the sick, but of the other members of their families, and many other individuals who are thrown out of employment by reason of its visitation. The Richmond Dispatch. in noticing the TA-


Article from Semi-Weekly Standard, August 18, 1855

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Article Text

AT PORTSMOUTH. All the accounts agree that there is no abatement of the disease in Portsmouth. The Express says: ' Everything continues gloomy to the utmost extent. The streetsare nearly deserted, and business is almost entirely suspended. The office of the Savings Bank has been removed to the residence of Geo. M. Bain, Esq., Cashier. Every director of the Bank of Virginia is out of town, except two, and therefore all Banking business is suspended. The business of the Navy Yard is still continued, though over one thousand workmen have taken their discharges. Our correspondent says, Commodore McKeever, the officer in the yard, is one of nature's noblemen. He declares that as long as "there is a man to strike a blow, the gates shall not be closed." For his kindness, and the liberal humanity with which he has executed the orders from the Naval Hospital, he deserves, and will receive, the grateful acknowledgments, not only of our community, but of all who can appreciate true magnanimity of soul." There is said to be much suffering among the poor sick in both places, who are in need of the necessaries of life. Petersburg and Richmond are contributing to their relief; and we trust the highly favored citizens of Raleigh will also contribute. Those who may wish to do so, can hand the amounts to Mr. Mayor Haywood, who will doubtless take pleasure in forwarding the same to the Mayors of the two afflicted Cities. LATEST FROM PORTSMOUTH AND NORFOLK.-On Wednesday Mr. Nash Tatum, Dr. Sylvester, Col. John Harper, Mr. John B. Davis, Mr. N. Manning, Miss Emily Wilson, and others, died; and Mr. Samuel R. Borum, T. G. Broughton, Jr., and Hunter Woodis, Mayor of Norfolk, were said to be dangerously sick. Commodore Barron had suffered a relapse, and his dissolution was hourly expected. The desease, it was thought, was not abating. The citizens of Petersburg has raised $2,500 for the poor sick of Portsmouth and Norfolk:


Article from Weekly North Carolina Standard, August 22, 1855

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Article Text

AT PORTSMOUTH. All the accounts agree that there is no abatement of the disease in Portsmonth. The Express says: "Everything continues gloomy to the utmost extent. The streetsare nearly deserted, and business is almost entirely suspended. The office of the Savings Bank has been removed to the residence of Geo. M. Bain, Esq., Cashier. Every director of the Bank of Virginia is out of town, except two, and therefore all Banking business is suspended. The business of the Navy Yard is still continued, though over one thousand workmen have taken their discharges. Our correspondent says, Commodore McKeever, the officer in the yard, is one of nature's noblemen. He declares that as long as "there is a man to strike a blow, the gates shall not be closed." For his kindness, and the liberal humanity with which he has executed the orders from the Naval Hospital, he deserves, and will receive, the grateful acknowledgments, not only of our community, but of all who can appreciate true magnanimity of soul." There is said to be much suffering among the poor sick in both places, who are in need of the necessaries of life. Petersburg and Richmond are contributing to their relief; and we trust the highly favored citizens of Raleigh will also contribute. Those who may wish to do so, can hand the amounts to Mr. Mayor Haywood, who will doubtless take pleas. ure in forwarding the same to the Mayors of the two afflicted Cities.


Article from The Daily Minnesota Pioneer, September 28, 1855

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Article Text

The following is the latest intelligence we have froin the "doomed cities." We find it in a letter in the New York Evening Post of the 20th There are not a half a dozen stores kept open in the city, and should the fever last much longer it will be accompanied by a famine. For every article of food we have to pay from 50 to 150 per cent, above the ordinary prices. I doubt whether there are more than five thousand inhabitants remaining in the city, and not much more than fifteen hundred of the five thousand who have escaped the disease. Portsmouth has suffered if possible, worse than Norfolk. The bank over there has been closed altogether. No newspaper has been published in Norfolk for ten days, and I believe none in Portsmouth. All business at the Navy Yard has been suspended. The carpenters in the yard were for some time making coffins to bury the dead in Portsmouth and Norfolk, and a large number of coffins had been procured from Boltimore. One hundred and twenty were buried in Norfolk in two days last week. In some instances it was said that two or three were put in one box. In some families there seems to be a peculiar constitutional susceptibility to the influence of the disease, whilst in others there are great powers of resistance. Thirteen died in one family in Portfmouth. # METHODIST EPISCOPAL CONFERENCE APPOINTMENTS The following appointments were made by the Wisconsin Conference for that part of the Conference being in Minnesota : WINONA MISSION DISTRICT-N. Hobart, P. E. Winona to be supplied. Caledonia mission, John Hooper. Richland mission, John L. Dyer. Chatfield, to be supplied. Elk Prairie, Benj. Crist. Norwegian mission, to be supplied. Cedar River, to be supplied. Oronoko, to be supplied. Reed's Landing mission, Dwight Kidder. Kansas mission, Civlin Kellogg. Chippeway Falls, to be supplied. Montoville mission, D. O. Van Slyke. RED WING MISSION DISTRICT-John Kearns P. E. Red Wing, Chauncy Hobart. Hastings mission, J. G. Johnstons. Shakopee mission, Lewis Bell. Cannon River mission, T. M. Kirkpat-rick. Prescott mission, G. W. Richardson. Hudson mission, to be supplied. Marine mission, C. C Kidder. Ose ola mission, to be supplled. Stillwater mission, G. F. Hilton. Mille Lac Indian mission, to be supplied. Hamlin University, Jabez Brooks, principal -member of Red Wing quarterly conference. ST. PAUL MISSION DISTRICT D. Brooks P. Elder. St. Paul, to be supplied. St. Paul city mission, James Peet. Scandinavian mission, Samuel Anderson, C. P. Argelins. St. Anthony, A. J. Nelson. Minneapolis mission, Sam'l Salisbury. Minnetonka, to be supplied. Anoka mission, to be supplied Monticello, S. T. Creighton. Belle Prairie, to be supplied. Sandy Lake, Indian mission, S. Spates, Superior mission, John Bean. Cottage Grove, R. Mates. John W. Waterbury transferred to Rock River Conference.