2304. Augusta Insurance & Banking Company (Augusta, GA)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
October 17, 1857
Location
Augusta, Georgia (33.471, -81.975)

Metadata

Model
gpt-5-mini
Short Digest
154d7e375d64c481

Response Measures

None

Description

Articles (Oct 1857) report that Augusta Insurance and Banking Company suspended payments on Oct 17 at the solicitation of the business community to facilitate marketing produce during the depression. No runs, receivership, or permanent closure mentioned; suspension appears temporary.

Events (1)
1. October 17, 1857 Suspension
Cause Details
Banks voluntarily suspended at solicitation of the business community to facilitate bringing produce to market during the 1857 depression.
Newspaper Excerpt
The Mechanic's Bank, Augusta Insurance and Banking Company, Bank of Augusta, and City Bank suspended this morning... They have suspended at the solicitation of our entire business community, and to place themselves in a position to safely aid in bringing produce to market, which is an important if not ample source of relief from the present depression.
Source
newspapers

Newspaper Articles (2)
1. October 21, 1857 Edgefield Advertiser Edgefield, SC
Article from Edgefield Advertiser, October 21, 1857

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Article Text

SUSPENSION OF AUGUSTA BANKS.-The Mechanic,s Bank. Augusta Insurance and Banking Company, Bank of Augusta, and City Bank suspended this morning, which now completes the list of banks in the city, and places them all on the same footing. All the banks here are perfectly safe, and we recommend our distant readers to submit to no discount on any of them. They have suspended at the solicitation of our entire business community, and to place themselves in a position to safely aid in bringing produce to market, which is an important if not amplesource of relieffrom the present depression. Augusta Dispatch 17th inst.

2. October 23, 1857 The Athens Post Athens, TN
Article from The Athens Post, October 23, 1857

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Article Text

SUSPENSION OF AUGUSTA BANKS.-The Mechanic's Bank, Augusta Insurance and Banking Company, Bank of Augusta, and City Bank suspended this morning, which now completes the list of banks in this city, and places them all on the same footing.All the banks here are perfectly safe, and we recomend our distant readers to submit to no discount on any of them. They have suspended at the solicitation of our entire business community, and to place themselves in a position to safely aid in bringing produce to market, which is an important it not ample source of relief from the present depression.-Augusta Despatch, 17th.