Bank of Smyrna - Smyrna, DE

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: October 1, 1873
Location: Smyrna, Delaware (39.300, -75.605)

Metadata

Model: gpt-5-mini
Short Digest: 93250aaf

Response Measures

None

Description

Article (1873-10-01) reports the Bank of Smyrna unable to cash checks except small sums because Philadelphia correspondent banks could not cash their checks; described as a temporary suspension expected to be righted in a few days. No run or receivership mentioned; reopening is anticipated but not reported.

Events (1)

1. October 1, 1873 Suspension

Cause: Correspondent
Cause Details: Philadelphia correspondent banks unable to cash checks and therefore unable to provide greenbacks, causing the Bank of Smyrna to suspend cashing checks.
Newspaper Excerpt: Like all other Banks in the coun try, it is unable to cash checks, except for small sums to pay laborers. The Philadelphia Banks are largely its debtors, and as they cannot cash their checks, the Bank here cannot get the greenbacks to cash its checks. It is thought that this temporary suspension will be righted in a few days.
Source: newspapers

Newspaper Articles (1)

1. October 1, 1873 Smyrna Times Smyrna, DE

Article from Smyrna Times, October 1, 1873

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Article Text

BANK OF SMYRNA.- With reference to the Bank of Smyrna we have little to add to what we said last week, when we contradicted the foolish report about its loaning Clews & Co. $100,000. Like all other Banks in the coun r/, it is unable to cash checks, except for small sums to pay laborers. The Philadelphia Banks are largely its debtors, and as they cannot cash their checks, the Bank here cannot get the greenbacks to cash its checks. It is thought that this temporary suspension will be righted in a few days. No uneasiness is felt by depositors, whatever.