22067. St Albans Bank (St Albans, VT)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
January 8, 1866
Location
St Albans, Vermont (44.811, -73.083)

Metadata

Model
gpt-5-mini
Short Digest
29114490

Response Measures

Accommodated withdrawals

Description

Multiple contemporaneous articles (Jan 1866) describe a brief run driven by unfounded rumors linking St. Albans Bank to defalcations at the Missisquoi Bank (Hubbell). The bank redeemed about $30,000, stayed open late, and the panic subsided; there is no mention of a suspension or closure.

Events (1)
1. January 8, 1866 Run
Cause
Rumor Or Misinformation
Cause Details
Unfounded rumor that St. Albans Bank was involved with the Missisquoi Bank and had suffered losses from Hubbell's defalcation.
Measures
Redeemed over $30,000 of its circulation (mostly small sums); redeemed in greenbacks and current funds; kept open late to accommodate bill holders.
Newspaper Excerpt
An unfounded rumor that the St. Albans Bank had been involved with the Missisquoi Bank, occasioned a run on the Bank on Monday and Tuesday. The Bank was equal to the emergency and redeemed in greenbacks and current funds...
Source
newspapers

Newspaper Articles (7)
1. January 12, 1866 The Vermont Transcript Saint Albans, VT
Article from The Vermont Transcript, January 12, 1866

Click image to open full size in new tab

Article Text

had the DI dicting past few days to face for the of standing face Durice-armored days, with coldest of the past stood experience the his Albans, thermometer lordship. few At ing the Huntin St. degrees below zero. inst., the 30 C. E., on the 6th deerstown, is said to have fell to below understand an effort mercury grees at We zero-rather Good chilly. Templar is 40 being made to organize a Lodge in St. Albans. Clark Barr, whose restaurant has Mr. Morrison Block, Lake street, isin upon our table a keg of oysters trial, placed after a fair and impartial we which, pronounce inferior to none sitting we can had the pleasure of keeps yet this season. Mr. Barr will down to of oysters on hand, and the best ready at all reasonable hours, to be found serve them up in a style suitable the to most fastidious taste. Vermont National Bank bank- of Albans -The is the name of a new in St. institution recently organized of ing village, with a paid in capital this The board of Directors con- J. $100,000. of the following gentlemen. N. sist Smith, Bradley Barlow, Smith. H. Gregory A. O. Brainerd, W. C. W.C. Barber, Saxe and D. .R Bailey. James President, and Bradley Barlow, underSmith, Its banking room is Welden Cashier. completion under the going where it expects to commence operation House, as soon as its currency received from the Government. -At a meeting of the stockholders National Union Bank of Swanof the Vt., holden at their Banking inst., House ton, in Swanton on the 9th for the following officers were chosen L. ensuing year: President, Wm. Vice President. Blake; N. A. Lasell; Sowles; Cashier, the Directors, Joseph H. Rey- Wm. Sowles, Josep! Blake, H. nolds, L Fletcher Tarbell, C.H. Bullard, Jo. E.A. Sowles and Orrin Dorman. Blake, Esq., was elected and the declined seph the office of President of that association, for the reason he new had occupied that responsible position in the Union Bank for fourteen years, and his health had become somewhat impaired by its arduous duties. Hon. H. H. Reynolds in noninating Mr. Blake spoke in a feeling exmanner of the uniform courtesy of tended to the board of directors Rank by its late President the success in a great measure stitution the i attributed Union extended of the to the in- it. wetchful care he has over The old association made a dividend has of four per cent. in July last, and to surplus fund sufficiently large make a dividend of over two per cent., t this time, besides other perquisites, the which passes into the hands of association. The old association new voted to convert itself into a National time Bank in June last, since which cirhas made but few loans and its will reulation is now very small. It continue business to a limited extent until the currency of the National Bank is received, which cannot be 80cured until about the 1st of June each, next. The shares of the bank are $50 share. and $5 premium is offered for each -At the meeting of the stockholders 9th of the St. Albans Bank on the inst., the following directors were B. elected for the ensuing year. H. Sowles, J. G. Smith, B. Barlow, W.C. Smith, S.P. Carpenter, H. N. Barber, and James Saxe. H. B. Sowles, President; B. Barlow, Cashier, and C.N. the Bishop, Teller. A statement of the present financial condition of ank showed that the fears expressed a by" run" on the bank, is without justifiable cause. -A county temperance convention s called to meet at Sheldon on TuesMay, the 23d of this month. --Lieut. Col. Chester K. Leach, First Regiment Vermont Militia, has been assigned to the command of the First Regiment Vermont Militia. -Rev. Nathan Bishop, for 29 years editor of the Vermont Chroncle is to now associated in the editorship of

2. January 16, 1866 Green-Mountain Freeman Montpelier, VT
Article from Green-Mountain Freeman, January 16, 1866

Click image to open full size in new tab

Article Text

Items of State News. DESTRUCTIVE FIRE IN WINDSOR.- We learn from the Windsor Journal that about half past one o'clock on Thursday morning flames were discovered issuing from the rear windows of the building in Windsor owned by L. .Hubbard, and occupied by L. C Fay & Sons, for sale of goods, and A G. Amaden, billiard saloon. The alarm was immediately given. but before a en persons could be present, the whole building was enveloped in flames, consuming all its contents, except the books and papers in the safe. which was taken out o the burning embers. The heat was intense, and the fire was communicated to a store owned by the Shubael n ardter es.ate, and occupied by White & Tuxbury, but which was immediately cleared of a considerable part of the goods. The building was nearly destroyed, and the new brick building owned by White wasinjured to the amount of two or three hundred dollars. The Vermont Journal and Chronicle printing office building owned by L.J. Melndoe, was also somewhat injured. The building owned by M. K. Paine, and oc. cupied by T. B. inn. jeweller, was slightly damaged. The tire caught on the roof of the Old Constitution building several times but was extinguished The chire loss was about $35,000 partly insured. L. C. Fay & Sons' loss was $20,000 White & Tuxbury's loss was from $8000 $12,000. Fully insured. MASONIC.-At the annual communication of the Masonic Grand Lodge of Vermont recently held, in Rutland, the following officers for the ensuing year were elected Leverett B. Englesby, Burlington, Grand Master. Geo. M. Hali, Swanton, Deputy Grand Master. R W. Clark, Brattleb ro, Senior Warden Benj. II. Dewev, Waterbury, Ju ior Warden, William G. Staw, Burlington, Treasurer. Henry Clark Poultney, Secretary. Samuel Brooks, Middlebury, Senior Deacon H. H. Powers, Morristown. Junior Deacon Rev. Jerael Lace, Springfield, Chaplain. Rev. Edwin W heelock, Cambridge, Assistant Chaplain. Gamaliel Washburn, Montpelier, Grand Leeturer J. K. Edgerton, Norwich, Assistant Lecturer, Pitt W.Hyde, Hydeville, Grand Marshal, George L. Deming, Shoreham, Sword Bearer Wm. Bricsmard, Burlington, Albert D. Dew ey Montpelier, Grand Sentipels. Uzil Piereon, Burlington, Gra d Tyler An appropriation was made for the erection of & monement at the grave of the late Hon. Horatio Needham of Bristol The session of the Grand Lodge will be held at Montpelier on the second Wednesday of January 1867. ST. ALBANS.-There was a 'run , on the S: Albane bank last week, owing to reports that 10 Was involved with the Missequor bank. and had suffered lesses by the raiders. There was foundation for the alarm. and the public soon becoming convinced of the entire roundness of the bank, the run came to an end Sr. ALBANS-TheRetland Herald says that have recently been examined before Justice Randall for attempting to escape from the jail in this place, and five of them have been bound for trial in the sum of $500 each Their names are John Jones alias Godfrey, George Sanders, alias Samuel Wheeler, William Wright, Joba Seymour and Augustus Albro, atias Nelson, the mulatto. THE GREAT COLD SNAP OF 1866.-Prof. Petty reports to the Barlington Free Press that the recent cold spell was entirely without precedent. We have had as cold days, but never four such together. The mean temperature of last Friday the 5th inst., was, discarding fractions, 11 d grees of Saturday. 14 degrees of Sunday, 22 degrees, and of Monday, degrees. The mean temperature of the four days was teen degrees below zero. MILITIA.--B special order No 17. we learn of the resignation, by Brig Gen. John L. Bars. tow. of his command of the First Brigade of V. Col. Jed. P. Ladd of the First Regi ment is signed to the command of the Brig ade, and the Rogiment comes under the command of Lt. Col. Leach MUSTERED CUT Mai. Gen. William Welle and Brig. Gen. James M. Warner are honorably mustered out to date from January 15th, 1866. Captain Charles C. Gould of Windham, the brave captain of the 5th regiment, who was the first to enter the rebel works at the capture of as Peterburg, has received an appointment clerk in the Penaton Office, at Washington RAILROAD LOAN. The Vermont Central railroad lately placed apo the market a 3 per cent. loan for $700,000 and $500,000 of it has been already taken. Oct OF SERVICE Dr. L. J. Dixon of Milton arrived home a few days ago, having been mus. tered out after nearly five years of professional service in the army. Sr ALBANS BUTTER shipments of butter and el eese from St. Albane, as shown by a table furnished to the Messenger by Mr. Hobart, master of transportation have steadily increased from 599 tons of butter and 245 tons of cheese in 1851, to 1517 tons of butter and 587 tons of cheese in 1865 The grand total for the fifteen years amounts to 33,603,644 lbs. of butter, and 16,628,197 lbs. of cheese. or about seventeen thousand tons of the former, and eight thousand of the latter. A correspondent writes us Lyndon raises 206 cents on the dollar of the Grand Liet, which pays the entire indebtedness of the town. a IRE8.-Rutland has been visited again with most disastrous fire. At about 5 o'clock on Tuesday evening a tire broke out in the grocery store of Simonds & Edson, south part of Union Block, and soon extended through the entire block. burning it the ground. The fire raged until midnight. The water was frozen, which rendered the efforts of the fireman almost useles. Union Block was the finest block in Rutland, and embraced many of the leading stores. Loss $100,000. The fire originated from kerosene, spark from a lamp igniting the oil, During the fire, the St. Albans and Plattsburgh mails were stolen from the mail car and carried off. SENTENCED.- the recent term of the Orteams County Court, Joseph Hobart was sentenced to the State Penicilitiary for two years, and George C. Fletcher a term of five years, both for stealing. EXAMINER OF NATIONAL BANKS.- Asa R Camp of Stowe, has been tendered by the Seeretary of the Treasury, and has accepted, the position State o of Examiner of National Banks, in the State Bank Vermont, Commissioner Mr. Camp IS the present FROZEN TO DEATH Mr. Moses Stevens, Jr. of Danville, freze death last Saturday morning, while traveling from Cabot to Danville Green. The Lyndon Union says he was cold when he left Cabor, and had a very slow horse to and drive; died that he called at a house to warm, thating in fifteen minutes after be got before

3. January 17, 1866 Lamoille Newsdealer Hyde Park, VT
Article from Lamoille Newsdealer, January 17, 1866

Click image to open full size in new tab

Article Text

BANK MATTERS.--The St. Alban's Bank redeemed over $30,000 of its circulation, mostly in small sums, during three days of the run on it. All is quiet now, and the bank stronger than ever in the public confidence, The rumor that Mr. Henry Howes, the first cashier of the Missisquoi Bank, was implicated in some of the recently discovered defulcations. is now authoritatively denied. Mr. Howes. who is in the Sixth Auditor's office, at Washington, has been to Sheldon, and has discovered and explained the errors which caused such a report.

4. January 19, 1866 Burlington Weekly Free Press Burlington, VT
Article from Burlington Weekly Free Press, January 19, 1866

Click image to open full size in new tab

Article Text

THE ST. ALBANS BANK.- An unfounded rumor that the St. Albans Bank had been involved with the Missisquoi Bank, occasioned a run on the Bank on Monday and Tuesday. The Bank was equal to the emergency and redeemed in greenbacks and current funds, as fast as its bills were presented. keeping open on Tuesday after business hours, to accommodate the numerous comers from the country round. Wednesday, the excitement began to subside, and IS doubtless over now. The Messenger says, There never was a more unfounded rumor nor a more absurd panic, the financial condition of the Bank being as sound as at any former period of its existence. Its stock has been sold, within ten days, at par : its Capital Stock is unimpaired, and it 18 just 28 "good as any Bank in New England.

5. January 19, 1866 Burlington Weekly Free Press Burlington, VT
Article from Burlington Weekly Free Press, January 19, 1866

Click image to open full size in new tab

Article Text

BANK MATTERS.-The St. Albans Bank redeemed over $30,000 of its circulation, mostly in small sums, during three days of the run on it. All is quiet now, and the bank stronger than ever in public confidence The rumor that Mr. Henry Howes, the first cashier of the Missisquoi Bank, was implicated in some of the recently discovered defalcations, is now a authoritatively denied. Mr. Howes. who is in the Sixth Auditor's office, Washington, has been to Sheldon, and has discovered and explained the errors which caused such a report.

6. January 19, 1866 Bellows Falls Times Bellows Falls, VT
Article from Bellows Falls Times, January 19, 1866

Click image to open full size in new tab

Article Text

BANK RUN.-There was a heavy run on the St. Albans Bank last week, caused by rumors that the Bank had suffered from losses by Hubbell's defalcation at the Missisquoi Bank at Sheldon, and the bank promptly redeemed some $30,000 before the panic subsided, and no V standa better than ever, and the bill holders had their scare for nothing. On Wednesday night the bank officers sat up till a late hour and long after the frightened bill holders ceased coming in, in order to attend to any cases which might be presented.

7. January 25, 1866 Rutland Weekly Herald Rutland, VT
Article from Rutland Weekly Herald, January 25, 1866

Click image to open full size in new tab

Article Text

FRANKLIN COUNTY.--The Supreme Court in session at St. Albans has granted divorces in eleven cases, mainlf for adultery and desertion. The same court has pronounced the following sentences : James Quirk, one year to hard labor in state prison, for larceny of overcoat; Silas Mosier, for larceny of a horse, four years in state prison; Chas. L. Peterson. for burglary and theft, four teen months in state prison ; Benton Bird, for like offence, in consideration of his youth, was sentenced to pay a fine of ten dollars, and costs of prosecution, and if not paid in thirty days, to be put to labor by the Sheriff until paid. -The St. Albans Messenger of Friday says that a little girl, aged about seven years, named Mary Greenough, daughter of one of the employes in the .oundry, was choked to death last week by a piece of nutshell. Also that a boy was killed by a horse, beyond the railroad, while sliding. the animal stepping upon his breast. -The St. Albaus Bank redeemed over $30,000 of its circulation, mostly in small sums, during the three days run on it. All is quiet now, and the bank strong in public confidence.