Bank of Middlebury - Middlebury, VT

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: January 17, 1855
Location: Middlebury, Vermont (44.015, -73.167)

Metadata

Model: gpt-5-mini
Short Digest: e3f6a674

Response Measures

Full suspension

Other: Receiver appointed by Chancellor (court) to manage funds for depositors.

Description

Article (Middlebury Register, 1855-01-17) reports a run driven by the numerous rum[ors] afloat and hardness of the times, followed by suspension of operations and appointment of a receiver by the Chancellor. Receiver appointment indicates permanent closure/receivership.

Events (3)

1. January 17, 1855 Receivership

Newspaper Excerpt: George S. Swift was appointed a receiver of all the funds of the bank for the benefit of all the depositors.
Source: newspapers

2. January 17, 1855 Run

Cause: Rumor Or Misinformation
Cause Details: Run attributed to hardness of the times and numerous rumors afloat leading depositors to withdraw
Measures: Depositors and directors concluded bank should suspend operations; application made to Chancellor for receiver
Newspaper Excerpt: owing to the hardness of the times and the humerous rum T'S afloat, a run has been made and is still being made on the bank.
Source: newspapers

3. January 17, 1855 Suspension

Cause: Government Action
Cause Details: Bank suspended operations and an application was made to the Chancellor leading to appointment of a receiver
Newspaper Excerpt: it was thought best by some depositors, that the bank should for the present suspend its operation. Accordingly an application was made to the Chancellor, yes. terday
Source: newspapers

Newspaper Articles (1)

1. January 17, 1855 The Middlebury Register Middlebury, VT

Article from The Middlebury Register, January 17, 1855

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Article Text

Bal. in Bank $ 840,58 Owing to the hardness of the times and the humerous rum T'S afloat, a run has been made and is still being made on the bank. It has lately become evident that the money could not be realized from our property in time to meet the demands on the bank, and it was feared that while some would get the whole of their money from the bank, others must lose or wait a long time for their money. In order, therefore, that all might stand on an equal footing; it was thought best by some depositors, that the bank should for the present suspend its operation. Accordingly an application was made to the Chancellor, yes. terday, and George S. Swift was appointed a receiver of all the funds of the bank for the benefit of all the depositors. It is hoped nnder his management that the loss to depositors will be slight J. DAVENPORT, President. JAS. M SLADE, Vice President. D.S. CHURCH, AMON WILCOX, TrusE. VALLETTE, tees. DAVID PIPER. HARMON A. SHELDON, HEMANLANGWORTHY, Middlebury, Jan. 17, 1855.