21784. Dollar Savings Bank (Richmond, VA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 1, 1873*
Location
Richmond, Virginia (37.554, -77.460)

Metadata

Model
gpt-5-mini
Short Digest
b06600ad

Response Measures

None

Description

The Dollar Savings Bank suspended in 1873 and remained closed; by October 1876 depositors were receiving installments paid by the court/receiver (Judge Hughes). No run is described. The articles describe disbursement of funds from a suspension/receivership rather than a reopening of normal operations.

Events (3)

1. January 1, 1873* Suspension
Cause Details
Article only states the bank suspended in 1873; no cause (e.g., run, fraud, or correspondent failure) is given.
Newspaper Excerpt
the Dollar Savings Bank, of Richmond, which suspended in 1873
Source
newspapers
2. October 9, 1876 Receivership
Newspaper Excerpt
the depositors of the Dollar Savings Bank was on Saturday rewarded by an instalment of ten per cent. being paid them on their claims. ... Judge Hughes had to sign about five hundred checks.
Source
newspapers
3. October 11, 1876 Other
Newspaper Excerpt
The depositors in the Dollar Savings Bank, of Richmond, which suspended in 1873, received . their first instalment of ten per cent. yesterday.
Source
newspapers

Newspaper Articles (2)

Article from The Daily Dispatch, October 9, 1876

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Article Text

NO 87. THE DOLLAR SAVINGS BANK.waiting of the depositors of the Dollar Savings Bank was on Saturday rewarded by an instalment of ten per cent. being paid them on their claims. The whole amount of money disbursed amounted to near $13,000, and Judge Hughes had to sign about five hundred checks. There will be another instalment of about equal amount, itis hoped, in the course of a few weeks. Most of the depositors were mechanics and small traders, and their discomfiture by the suspension of the concern has been great indeed. Some cases of extraordinary hardship appeared during the various proceedings that have 00curred. The special depositors-those who were persuaded to put their money in the bank after the first suspension, upon the pledge that it would not be mixed up with old accounts-claim that they ought to be paid in full, and Judge Hughes will decide that point on the 23d. Should he decide in their-favor there will be enough money left after this first instalment is paid to meet their demands. CONVEYANCES OF REAL ESTATE FOR THE W EEK ENDING OCTOBER 7, 1876.-Lots fronting: 30 feet on Eighth street for $168; feet on Twelfth street, between Clay and Leigh, for $960; 2 feet on alley near Twelfth street, for $120; 25 feet on First street, between Clay and Leigh, for $375; 10 feet on Seventh street, near Arch, &c., for $1; 24 feet on Broad street, between First street and Brook avenue, &c., for $10; 30 feet on Leigh street, between St. James and A dams, for $277; 30 feet on Reservoir street, near Taylor, for $116; 40 feet on Tyler street, near Clay, for $320; 30 feet on Eighth street for $168; 25 feet on First street, between Clay and Leigh, for $375; 67 feet on Catharine street, corner of Henry, &c., for $5; 26 feet on Broad street, corner of First, for $2,650; 21 feet on Ninth street, near Franklin, for $3,200; 25 feet on First street, between Clay and Leigh, for $375; 52 feet on Main street for $1,837; 25 feet on Grace street, near Eighth, for $2,500; 20$ feet on Clay street, corner of Seventh, for $4,125.


Article from The Daily Dispatch, October 11, 1876

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Article Text

CASH.-The depositors in the Dollar Savings Bank, of Richmond, which suspended in 1873, received . their first instalment of ten per cent. yesterday.