Orange Bank (Poseyville, IN)

Episode Information

Episode Type
Suspension β†’ Closure
Start Date
January 11, 1855
Location
Poseyville, Indiana (38.170, -87.783)
Bank Type
private

Metadata

Notes

Bank appears on multiple lists of suspended Indiana 'Free Banks' and subject to Auditor-driven liquidation.

Events (3)

1. January 11, 1855 Suspension
Cause
Government Action
Cause Details
Listed among Indiana 'suspended' or non-redeeming Free Banks by state and later placed in liquidation by the State Auditor.
Newspaper Excerpt
Orange Bank, Poseyville; ... don't redeem their paper in coin, currency, or exchange.
Source
newspapers
2. June 28, 1855 Other
Newspaper Excerpt
Orange Bank, Poseyville: 1,000 State of Indiana 5 per cent stock. (sale by order of Hon. H. E. Talbott, Auditor of the State of Indiana, for account of Indiana suspended banks.)
Source
newspapers
3. July 27, 1855 Other
Newspaper Excerpt
The Auditor of State notifies those holding the circulating notes ... Orange Bank ... to return the same to the Auditor's Office, Indianapolis, for cancellation ... that a pro rata dividend thereon [may be] declared.
Source
newspapers

Newspaper Articles (11)

Article from The Daily Minnesota Pioneer, January 11, 1855

Click image to open full size in new tab

Article Text

From the Crawfordsville Review

The Free Banks of Indiana. The following list of Free Banks of Indiana were reported in the recent Convention at Indianapolis, as specie paying banks: Hoosier Bank, Logansport; Prairie City Bank; Indiana Stock Bank, Laporte; Gramercy Bank; Western Bank, Plymouth; Canal Bank, Evansville; Fayette County Bank; Lagrange Bank; Bank of Indiana, Michigan City; Bank of Syracuse; Cambridge City Bank; Bank of Rockville; Salem Bank; Bank of Monticello; Crescent City Bank; Central Bank, Indianapolis, Indiana Bank, Madison; Bank of Goshen; Bank of Salem; Farmer's Bank of Westfield; Keutucky Stock Bank; Kalamazoo Bank; Bank of Warsaw; Bank of Mount Vernon; Bank of Paoli; Bank of Elkhart; Merch. and Mechanic's Bank, N. Albany. Bank of the Capitol; Trader's Bank, Indianapolis; N. Y. & Virginia Steck Bank, Evansville; Farm's & Mech's Bank, Indianapolis. The following resolution among others was adopted: Resolved, That we will receive and pay out the notes of the banks represented in this Convention as specie paying banks in all business transactions, and that we will in no case treat as par funds, the issues of any suspended bank whatever. The above list comprises all the banks covered by the foregoing resolution. It is thought that twenty or thirty more banks will acquiesce in the arrangements in a :week or two. Here is a list of those which the Indianapolis Journal says "have no place of doing business,-no owners in fact that anybody can find,-and don't redeem their paper in coin, currency, or exchange." Bank of America, Morocco; Bank of Connersville, Connersville: Drover's Bank, Rome; Elkhart county Bank, Goshen; Merchant's Bank, Lafayette; Orange Bank, Poseyville; Merchant's Bank, Springfield; Northern Indiana Bank, Logansport; Plymouth Bank, Plymouth: State Stock Bank, Logansport; " Peru; Trader's Bank, Terre Hante.


Article from True American, January 18, 1855

Click image to open full size in new tab

Article Text

FREE BANKS OF INDIANA

-At a convention of thirty of the specie paying free Banks of Indiana, held at Indianopolis, lately, the following resolution, among others, was adopted: Resolved, That we will receive and pay out the notes of the banks represented in this Convention, as specie paying banks in all business transactions, and that we will in no case treat as par funds the issues of any suspended bank whatever. The Indianopolis Journal gives a list of the following shaving shops which have no place of doing business, no owners that any body can find, and which do not redeem their paper in coin, currency or exchange: Bank of America, Morocco; Bank of Connersville, Connersville; Drover's Bank, Rome; Elkhart Co. Bank, Goshen; Merchant's Bank, Lafayette; Orange Bank, Poseyville; Merchants' Bank, Springfield; Northern Indiana Bank, Logansport; Plymouth; State Stock Bank, Logansport; State Stock Bank, Peru; Traders' Bank, Terre Haute.


Article from The New York Herald, June 26, 1855

Click image to open full size in new tab

Article Text

R. W. LATHAM, AUCTIONEER.β€”SPECIAL SALE.β€”By order of Hon. H. E. Talbott, Auditor of the State of Indiana, for account of Indiana suspended banks, J. THOMPSON'S stock auction sales. On Thursday, June 28, at the Merchants' Exchange, at 12Β½ o'clock,

For account of the Bank of Attica, Indiana:β€” $21,000 Indiana State 2Β½ per cent stock. 8,000 Indiana State 5 per cent stock. Atlantic Bank, Jackson:β€” 6,000 Indiana State 2Β½ per cent stock. Orange Bank, Poseyville:β€” 1,000 State of Indiana 5 per cent stock. Bank of Albany, New Albany:β€” 7,000 Indiana State 5 per cent stock. State Stock Bank at Peru:β€” 25,300 Indiana State 5 per cent stock. Bank of Bridgeport:β€” 2,000 Indiana State 5 per cent stock. Bank of America, Morocco:β€” 6,500 Indiana State 5 per cent stock. Public Stock Bank, Newport:β€” 7,000 Indiana State 5 per cent stock. Elkhart County Bank:β€” 40,000 Indiana State 2Β½ per cent stock. 5,000 Louisiana State 6 per cent Bonds, int. from 1st June, 1855. 2,000 Louisiana State 6 per cent Bonds, int. from 1st April, 1855. 500 Virginia State 6 per cent Bonds, int. from 1st April, 1856. Traders' Bank, Nashville:β€” 16,500 Indiana State 5 per cent stock. Per Individual Order:β€” 7,000 Great Western R. R. Co. (Illinois) 7 per cent mortgage and convertible bonds. Int Feb. and Aug. in N. Y.; due 1865. 10,000 Memphis City (Tennessee) 6 per cent Bonds. Interest Jan. and July in N. Y.; due 1884.

All purchases must be paid for on or before 1 o'clock of the day after the sale. When purchases are made for account of parties out of the city, 10 per cent will be required on the day of sale, and six days' grace given (adding interest) on the balance.

The accrued interest will go to the purchaser (the same as at the Board of Brokers), except the Indiana State stocks, which are sold interest off.

Office No. 2 Wall street. JOHN THOMPSON.


Article from New-York Daily Tribune, June 28, 1855

Click image to open full size in new tab

Article Text

R. W. LATHAM, Auctioneer.

SPECIAL SALEβ€”By order of the Hon. H. E. Talbott, Auditor of the State of Indiana for account of Indiana Suspended Banks.β€”J. THOMPSON'S STOCK AUCTION SALESβ€”On THURSDAY, June 28, at the Merchants' Exchange, at 12 1/2 o'clock.

For account of the Bank of Attica, Ind.: $21,000 Indiana State 2 1/2 per cent Stock. 8,000 Indiana State 5 per cent Stock.

Atlantic Bank, Jackson: 6,000 Indiana State 2 1/2 per cent Stock.

Orange Bank, Poseyville: 1,000 State of Indiana 5 per cent Stock.

Bank of Albany, New-Albany; 7,000 Indiana State 5 per cent Stock.

State Stock Bank at Peru: 25,300 Indiana State 5 per cent Stock.

Bank of Bridgeport: 2,000 Indiana State 5 per cent Stock.

Bank of America, Morocco: 6,500 Indiana State 5 per cent Stock.

Public Stock Bank, Newport: 7,000 Indiana State 5 per cent Stock.

Elkart County Bank: 40,000 Indiana State 2 1/2 per cent Stock. 5,000 Louisiana State 6 per ct. Bds., int. from 1st June, 1855. 2,000 Louisiana State 6 per ct. Bds., int. from 1st April, 1855. 500 Virginia State 6 per ct. Bds., int.

Traders' Bank, Nashville: 16,500 Indiana State 5 per cent Stock.

Per Individual Order: 7,000 Great Western Railroad Company (Illinois) 7 per cent Mortgage and Convertible Bonds. Int. February and August in New-York, due 1865. 10,000 Memphis City (Tennessee) 6 per cent Bonds. Interest January and July in New-York. Due 1884.

All purchases must be paid for on or before 1 o'clock of the day after the sale. When purchases are made for account of parties out of the city 10 per cent will be required on the day of sale, and six days' grace given (adding Interest) on the balance.

The Accrued Interest will go to the purchaser, (the same as at the Board of Brokers,) except the Indiana State Stocks, which are sold interest off.

Office No. 2 Wall-st. JOHN THOMPSON.


Article from Indiana American, July 27, 1855

Click image to open full size in new tab

Article Text

SUSPENDED INDIANA FREE BANKS

The Auditor of State notifies those holding the circulating notes of the Traders' Bank of Nashville, Elkhart County Bank, Bank of Attica, Atlantic Bank, at Jackson, Orange Bank, Bank of Albany, State Stock Bank of Indiana, at Peru, Bank of Bridgeport, Bank of America, at Morocco, and the Public Stock Bank at Newport, to return the same to the Auditor's Office, Indianapolis, for cancellation, before the first day of October next, that the outstanding circulation may be determined as accurately HS possible, and a pro rata dividend thereon declared. Certificates for the amount returned will be issued, and the dividend on the respective banks paid upon the presentation of the certificate at that office, after the ffrst day of October next.


Article from Grand River Times, August 22, 1855

Click image to open full size in new tab

Article Text

SUSPENDED INDIANA FREE BANKS

-The Auditor of the State of Indiana notifies those holding the circulating notes of the Trader's Bank at Nashville, Elkhart County Bank, Bank of Attica, Atlantic Bank of Jackson, Orange Bank, Bank of Albany, State Stock Bank of Indiana, at Peru, Bank of Bridgeport, Bank of America, at Morocco, and the Public Scock Bank, at Newport, to return the same to the Auditor's office, Indianapolis, for cancellation, before the first day of October next, that.the outstanding circulation may be determined as accurately as possible, and a pro rata dividend thereon declared. Certificates for the amount returned will be issued, and the dividend on the respective banks paid upon the presentation of the certificate at that office after the first day of October.


Article from The Daily Gate City, April 23, 1856

Click image to open full size in new tab

Article Text

News of the Morning

ARRIVAL OF THE AFRICA.-The Africa arrived on the 19th. Peace Conference still sitting, considering minor details. Paris has been illuminated in honor of the peace, and the Orleanists and Legitimists took a part in the illumination. No news of importance from any quarter. Markets active. Iron in good demand. Provisions unchanged. The President and several members of the Cabinet visited Annapolis on the 18th.They were received by citizens in the Senate Chamber of the State House. Mr. Pierce replied in a happy manner. The next day, in company with the Governor and Secretary of State of Maryland, with other officials, they inspected the Naval Academy. Milton L. Latham was unanimously confirmed Collector of San Francisco on the 19th. The South Americans have carried the city of Augusta, Ga, at the charter election. SPECIAL Tax.-The City Council has ordered a vote to be taken on the 30th inst., to authorize the levying of a special tax. We are requested to state that this order was passed not because the Council has determined upon, or even contemplates, any unusual or extraordinary appropriations for any purpose, during the ensuing year. The object is to provide against contingencies. It may happen that the Council will need more means than are at present provided, and in such case the law makes it necessary that the election ordered should be held by the time specified. If the vote should be in the affirmative, the Council will then be clothed with the necessary power, and can then exercise its discretion. We observe that the Mayor's proclamation does not prescribe the form of the ballots. The Auditor of the State of Indiana gives notice that the notes of the following Free Banks have been placed in liquidation, and gives notice to the holders of the notes of said banks to have them at his office for redemption on or before the first day of Oetober next: Traders' Bank at Nashville: Elkhart Co. Bank: Bank of Connersville: Bank of Attica; State Stock Bank of Indiana at Peru; Wabash Valley Bank : Bank of America, at Morocco: Bank of Albany; Bank of Bridgeport; Laurel; Orange Bank Green County Bank; Atlantic Bank; Bank of T. Wadeworth; Traders' Bank at Terre Haute; Drovers' Bank at Rome: Farmers' Bank at Jasper; New York Stock Bank at Vincennes; Plymouth Bank. The Keokuk Post (Republican) comes to us with triumphant rejoicings over a great victory gained over the Democracy of that city, who insisted upon running a ticket at the municipal election, upon strict party grounds. The Independent or opposition ticket was elected by a strong majority.[Dubuque Republican. The Keokuk Post pretends to be independent, but is at least anti-Republican, whatever else it may be, and didn't rejeice very much over the election. The Times is the regular, and the Post is the irregular, Locofoce paper in this city. The Gate City is the only "Republican" journal.


Article from Indiana American, July 3, 1857

Click image to open full size in new tab

Article Text

Suspended Banks, Where redeemed, and rates paid: Bank of Attica, Auditor's Office, at 89 B'k of America, Auditor's Office, at 87c. B'k of Albany, Auditor's Office, at 90c. Atlantic B'k, Auditor's Office, at 80c. Agricultural B'k, Auditor's Office, at par B'k Connersville, Auditor's Office, at 87c. Elkhart Co. B'k, Auditor's Office, at 97c. Farmers's B'k, Jasper 91 Laurel B'k, 82 Northern Indiana B'k, 83 Orange B'k, par B'k Perrysville, par B'k of Rockport, par State Stock Bank, Peru, 85 State Stock Bank, Marion, 90 B'k South Bend, par Traders' B'k, Nashville, 92 B'k of T. Wadsworth, 91 Wabash Valley bank, 92 Wayne Bank, Logansport, par Wayne Bank, at Richmond, par B'k of North America at Clinton, 90 Savings B'k of Indiana at Connersville, 69 B'k of Warsaw, Central B'k Indianapolis, par Kalamazoo B'k, 90

The above comprises all the Free Banks that are properly secured and within the operations of the General Banking Law of this State.


Article from Marshall County Democrat, July 9, 1857

Click image to open full size in new tab

Article Text

Suspended Free Banks

The following is a list of the suspended Free Banks of this State, showing where redeemable, and value: Bank of Attica, at Auditor's office at 80 cents. Bank of America, Auditor's office, at 87 cents. Bank of Albany, Auditor's office, at 90 cents. Atlantic Bank, Auditor's office, at 80 cents. Agricultural Bank, Auditor's office, at par. Bank of Connersville, Auditor's office, at 87 cents. Elkhart County Bank, Auditor's office, at 97 cents. Farmers' Bank, Jasper, Auditor's office, at 91 cents. Kalamazoo Bank, Auditor's office, at 90 cents. Laurel Bank, Auditor's office, at 82 cents. Northern Indiana Bank, Auditor's office, at 83 cents. Orange Bank, Auditor's office at par. Bank of Perrysville, Auditor's office, at par. Bank of Rockport, Auditor's office, at par. State Stock Bank, Peru, Auditor's office at 85 cents. State Stock Bank, Marion, Auditor's office, at 90 cents. Bank of South Bend, Auditor's office, at par. Traders' Bank, Nashville, Auditor's office, at 92 cents. Bank of T. Wadsworth, Auditor's office at 91 cents. Wabash Valley Bank, Auditor's office, at 92 cents. Wayne Bank, Logansport, Auditor's office, at par. Wayne Bank, Richmond, Auditor's office, at par. Bank of North America, Auditor's office, at 90 cents. Savings Bank of Indiana, Connersville, Auditor's office, 90 cents. Bank of Warsaw, Central Bank, Indianapolis, at par.


Article from The Daily Gate City, May 6, 1858

Click image to open full size in new tab

Article Text

Indiana Free Banks

The following quotations are based upon the Report of the Auditor of the State of Indiana, dated February 1st, 1858: SPECIE PAYING. I DISCOUNT. Bank of Goshem, Goshen. Bank of Gosport, Gosport. Bank of Mt. Vermon, Mt. Vernon. Bank of Paoli, Paoli. Bank of Reckville, Wabash. Bank of Salem, New Altany. Bank of Salem, Salem. Bioomington Bank, Bloomington. Cambridge City Bank, Cambridge Exchange Bank, Greeneastle, Bank of Indiana Michigan City. Canal Bank, Evansville. CentralB'k, Indianapolis, redeemed by Treasurer of State. Cressent City Bank, Evansville. Bank of Elkhart. Brookville Bank, Indiana. Cambridge City Bank. Farmers' Bank, Westfield. Indiana Bank, Madison. Indiana Farmers' Bank, Franklin. Kentucky Steek Bank, Columbus. Lagrange Bank, Lima. Parke County Bank, Rockville. Prairie City Bank, Terre Haute. Bank of Menticello Fayette County Bank. Merch. s Mech. Bk. New Albany. Bank of Syracuse. Indian Reserve Bank. Hoosier Bank. SUSPENDED-AT 25 DISCOUNT. Agricultural Bank. Atlantic/Bank. Bank of Albany. Bank of Albion. Bank of Attica. Bank of America. Bank of Bridgeport. Bank of Connersville. Bank Perryaville. Bank of South Bend. Bank of T. Wadsworth. Bank of the Capitol. Bank of N. America, Clintos Bank of Rockport. Elkhart County Bank. Savings Bank, Connersville, (secure) 40 dhe. Farmers' Bank, Jasper. Kalamasoo Bank. Laurel Bank. Northern Indiana Bank. N. Y. & Va. St. Stock Bank. Orange Bank. State Stock Bank of Indiana, Peru. State Stock Bank, Marion. Savings Bank of Indiana, (socured). Traders' Bank, Nashville. Wabash Valley Bk. Wayne Bank, Richmond. Wayne Bank, Logansport. Bank of Warsaw. Huntington County Bank There is 80 little suspended I now in circulation, and rates are $0.8 ble, that we do not deem it worth give quotations.


Article from The Daily Gate City, June 10, 1858

Click image to open full size in new tab

Article Text

Indiana Free Bal The following quotations a the Report of the Auditor Indiana, dated February let. 1858: SPECIE P ATI DISCOUNT. Bank of Goshen, Goshen. Bank of Gosport, Gosport. Bank of Mt, Vernon, Mt. Vernon. Bank of P oli. Wabash. Bank of a Bank of Altany. Bank of So Bioomington Bank, Bloomington. Cambridge City Bank, Cambridge City. Exchange Bank, Greeneastle. Bank of Indiana Michigan City. Canal Bank, Evansville. Central B'k, Indianapolis, redeemed by Treasurer of State. Crescent City Bank, Evansville. Bank of Elkbart. Brookville Bank, Indiana. Cambridge City Bank. Farmers Bank, W field. on. M Indiana Bank, Indiana Farm ink, Franklin. k, Columbus. Kentucky Sto Lagrange BankyLisha. Parke County Bank, Rockville. Prairie City Bank, Terre Haute. Bank of Monticello Fayette County Bank. Merch. & Mech. Bk. New Albany. Bank of Syracuse. Indian Reserve Bank. Hoosier Bank. SUSPENDED-AT 25 DISCOUNT. Agricultural Bank. Atlantic Bank. Bank of Albany. Bank of Albion. Bank of Attica. Bank of America. Bank of Bridgeport. Bank of Connersville. Bank of Perrysville. Bank of South Bend. Bank of T. Wadsworth. Bank of the Capitol. Bank of N. America, Clinton Bank of Rockport. Elkhart County Bank. Savings Bank, Connersville, (secure,) 40 dis. Farmers' Bank, Jasper. Kalamazoo Bank. Laurel Bank. Northern Indiana Bank. N. Y. & Va. St. Stock Bank. Orange Bank. State Stock Bank of Indiana, Peru. State Stock Bank, Marion. Savings Bank of Indiana, (secured). Traders' Bank, Nashville. Wabash Valley By. Wayne Bank, Richmond. Wayne Bank, Logansport. Bank of Warsaw. Huntington County Bank. There is 80 little suspended Indiana paper now in circulation, and rates are 80 unreliable, that we do not deem it worth while to give quotations.