253. Selma Savings Bank (Selma, AL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
September 25, 1873
Location
Selma, Alabama (32.407, -87.021)

Metadata

Model
gpt-5-mini
Short Digest
9a1fc128

Response Measures

None

Description

Multiple contemporary dispatches (Sept 25, 1873) report the Selma Savings Bank suspended. Several articles state assets were ample but the suspension was forced by inability to realize collections because cotton could not be sold — a local market shock. No explicit reopening is reported; one later account calls it 'collapsed.' Classified as suspension_closure because it suspended and no reopening is mentioned.

Events (1)
1. September 25, 1873 Suspension
Cause
Local Shock
Cause Details
Forced to suspend because the shock to public credit prevented the sale of cotton, making collections impossible (cotton market/credit shock).
Newspaper Excerpt
The Selma Savings Bank suspended to-day. The assets are believed to be ample to pay all its debts and liabilities, and to save the capital stock nearly entire.
Source
newspapers

Newspaper Articles (12)
1. September 26, 1873 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, September 26, 1873

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NO SUSPENSION OF THE ST. JOSEPII BANKS ST JOSEPH Sept. -The bankers of this city held a meeting to-day and resolved that there was no cause for a suspension on their part. They are all sound, able and willing to meet all demands on them. THE ACTION OF THE CHICAGO BANKS AP PROVED CHICAGO, Sept. 25-Despatches from the best informed sources received at the office of the Associated Press from most of the principal cities in Illinois and Iowa in reference to the present trouble here and in the East, concur in saying that the action of the Cuicago banks in following the course of the New York banks in sus. pending the payment of large amounts of currency is almost universally sustained and commended by bankers and business men as wise and timely and calculated to arrest the panic and pave the way to re; lief from the present difficulties. A meeting was held this evening a Rock Island, Ill., of the officers of the banks of that city, Davenport, Iowa, and Mohne, Ill. and it was agreed to restrict the payment of currency to checks of $100 or less for the present There is, however, no point heard from of any apparent panic or lack of confidence among any class of the community. HEALTHY STATE OF THINGS IN LOUISVILLE LOUISVILLE, Sept. 25.-The Courier. Journal of this morning contained several columns of the interviews of its reporters with the bankers of this city, giving a complete resume of valuable opinion as to their financial condition and the ef fect of the New York failures. These business interview, showed an entirely healthy and conservative condition of at fairs. Not a dollar is now loaned by bankers for anything with the look of speculation, and the disposition is to guard the depositors to the extent of their ability. The Courier-Journal of to-morrow will contain several columns of interviews with leading pork men, who, having a light stock this season and legitimate pleas at the bank counters, have no fears of any shading of their usual business. Every one of them is preparing to kill the usual number of hogs. Interviews with leading whisky concerns will also appear, showing a perfectly easy feeling, the only change being the orders from country distillers to sell only for cash. LETTER FROM CHARLESTON, S C. CHARLESTON, S. C., Sept. 25.-The money stringency is increasing. There has been no run upon the banks. The Charleston branch of the National Freedmens' Savings Bank is exacting 60 days notice from depositors, but all of the local banks are paying as usual. SUSPENSION OF A SAVINGS BANK AT SELMA SELMA, ALA., Sept. 25.-The Selma Savings Bank suspended to-day. Its as sets are believed to be ample to pay all its debts and liabilities and to save its capital stock nearly entire. EXCITEMENT DIMINISITING AT SAVANNAH SAVANNAH GA. Sept. 25.-The run on the Savannah Bank and Trust Company has ceased: that on the Bank of Georgia continued up to the hour of closing. Both are thought to be fully able to meet all demands. The other banks are proceed ing as usual and the excitement is dimin ishing. A meeting of the Chamber of Commerce to consider the state of affairs called for this evening RETURN OF THE PRESIDENT TO WASHING TON-CONFERENCE WITH SECRETARY RICHARDION-NO FURTHER DRAFTS ON HE TREASURY. WASHINGTON, Sept. 25. - President Grant and family arrived here this even ing, and immediately proceeded to the Executive Mansion. About eight o'clock Secretary Richardson called, and for more than an hour he and the President talked over the financial situation. They came to the conclusion that all the relief necessary had been afforded by the Treas. ury for the legitimate business of the country Consequently the Treasury will pay out no more currency than may be re quired in its ordinary disbursements That it will at present buy no more ling exchange or bonds. This information comes from an official source. The President and Secretary of the Treasury are satisfied that they have done all in their power legitimately to relieve the distress by the use of money accumulated in the Treasury. In the purchase of bonds not one dollar of the $44,000,000 reserve has been drawn or used by the Secretary, al though he repeats that he will use it to a very limited extent if it should become necessary to do SQ, not for the purpose of inflating the currency, but to pay ordinary expenses with the intention of restoring the amount as soon as circumstances will allow. The decision of the President and Secretary of the Treasury disposes of the report that the payment of the No vember interest, and the redemption of the January bonds would be anticipated. There is no such intention. NEW YORK Sept. 25 -A financial article of the Times says that outside of the working of the business at the banks, the stock brokers have made important progress in adjusting among themselves the suspended contracts of last week The Governing Committe have arranged for an informal comparison, and as far as practicable, clearance of the remaining contract to-morrow. of course as long as the Exchange remains closed, such clearances cannot be forced. But much good will be accomplished by ascertaining, as far as possible, the magnitude of the deficiencies yet in the wany of resuming regular business. The general feeling, however, is 'not impatient as to the time of opening the Exchange, espedally as the future means and medium of clearing stocks are yet undetermined. NEW HAVEN, Sept. 25.-It appears that A. J. Hine, Cashier of the National Bank of Ansoria, has been using the funds of the bank for speculation and the surplus of $40,000 is all gone. Hine also loses private fortune. The full extent of the not yet ascertained. The bank supposed to be solvent. NEW YORK Sept 25.-The Times, to

2. September 26, 1873 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, September 26, 1873

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have suspended operati buy cotton. The First National Bank paid out as usual, and there appears to be no serious run on it. The president will pay as long as there is a dollar of currency in the vaults. There is confidence that it will weather the storm. The suspended banks have ample as-ets, and will meet every dollar of their liabilities. A meeting of merchants has requested the banks to issue some medium to bridge over the present crisis. The banking house of John J. Cohen has suspended. Assets ample. ATLANFA GA. ATLANTA, September 25. The Dollar Savings Bank has suspended. Its securities are ample. SELMA, ALA. SELMA, September The Selma Savings Bank has suspended. The assets are believed to be ample. CHARLESTON, S. C. CHARLESTON. September 25.-No run on the banks. The Freedman's Bank exacts sixty days' notice. Other banks pay as usual. NEW ORLEANS. NEW ORLEANS, September meeting of all the bank presidents except two resolved to pay no checks of over $100. Larger checks will be certified. This lasts thirty days. CINCINNATI. CINCINNATI, September 25.-The Cincinnati Clearing-house Association has just adopted the following resolution Resolved, That for the protection of our commercial interests, and for the purpose of preventing a drain of currency from the banksand bankers of this city, we do hereby agree to adopt substantially the plan adopted in New York--viz.: they will not pay out currency on checks except for small sums. to be optional with the banks upon whom they are drawn: but they will certify checks drawn on balances in their hands, payable through the clearing-house only. Each member of the Clearing-House Association is required to deposit such sum in approved securities as will at all times cover the amount of his clearings. Government bonds are received at their par value. Rsilroad and other stock and bonds and bills receivable: are received at 75 per cent. of the value fixed on them by the committee, Balwhich can only be used in settlement. ances between the banks are not negotiable. Matters were in a condition on Change today to render it difficult to furnish quotations. There was no panicky feeling whatover, but there is a general- feeling to stand still on the part of buyers and sellers of everything. The action of the banks here was generally unexpected. The discussion of thissubject consumed time. Therearesome who believe the course not a wise one, but the prevailing opinion is that it was precautionary measure, justified by the obligation which the banks owe to the general business community. MEMPHIS. MEMPNIS, September 25.-The First Na tional Bank of Memphis has suspended. Later.-On account of the monetary panic and the run on all the bank<, two of which have suspended, business is almost entirely suspended. ST. LOUIS. ST. LOUIS, September 25.-It was decided last night at a meeting of brokers to suspend the payment of checks or drafts, either in currency or exchange, until the excitement in the East subsides. and the former condition of the markets is restored. BOSTON. BOSTON, September The course of the banks here is simply conservative. Loans are reduced, but the urgent wants of business were met. NEW BRUNSWICK, N.J. NEW BRUSSWICK, September 25. The State Bank of New Brunswick has failed. DETROIT. DETROIT, September 25.-Two bankers have tailed here. FURTHER FROM CHICAGO. CHICAGO, September 24 Although the day has been very quiet on 'Change, and prices of all grains have declined. there has' been a marked absence of excitement and continued feeling of confidence on the part of nearly all the members of the Board of Trade. Last evening there was some agitatiou of a proposition to close the Board for a day or two, but the movement amounted to nothing. The Board of Directors recommended to the membe rs that business be conducted on as conservative a basis as possible and efforts be made to adjust outstanding trades matu ring the present month on an equitable basis: that transactions be limited to the settlement of outstanding contracts and sales of property for cash, and that in ali transactions liberal and reasonable confidence be ex tended where the same would under ordinary circumstances be proper. Tlie recommendations were received with great expresstons of favor, and have been followed with great upantinity by members of the Board, so that there will by to-morrow night be very few outstanding trades to settle. There are now fewer outstanding trades to settle than at any time since the fire. Holders of cash grain are indisposed to sell at present prices, and this, together with an inability to negotiate exchange, prevents the filling of large orders for grain new here. There is general feeling of relief that the day has passed New York so satisfactorily, and renewed confidence in the ability of the banks and merchants of Chicago to come through all right. There have been no failures of merchants or grain dealers. The banks all went through the clearing-house to-day in good sliape, and there is almost universal feeling that the storm has passed by. CHICAGO, September 25 The Chicago clearing-house tias adopted the following resolution Resolvé That until further action, and in view of the disturbed condition of affairs in New York and other cities, and theidilliculty in converting balances into currency, and on the advice of the bank examiner, our members be recommended and authorized suspend currency payments on any large demands made upon them; either from the country banks or over their counters." [Bx Mail.] BALTIMORE, BROWN, LANCASTER & CO.-COMENTS OF THE ^PRESS UPON THEIR SUSPENSION-STATE OF TRADE, [Baltimore Sun 25th.] The only suspension is that of a private

3. September 26, 1873 The Rutland Daily Globe Rutland, VT
Article from The Rutland Daily Globe, September 26, 1873

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AT DETROIT. DETROIT. Sept. 25 The run on the savings banks was quite extensive to-day they all insist upon thirty days notice for large amounts. AT THE SOUTH The Selma. Ala., savings bank has suspended. The run on the Sayannah banks has ceased. The banks at Nashville have suspended specie payment. The money stringency at Charleston, S. C., is increasing, but as yet there has been no run on the banks.

4. September 26, 1873 The Daily Phoenix Columbia, SC
Article from The Daily Phoenix, September 26, 1873

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stated Richardson deblines anticipating the '74 bonde, which mature December and January. The City Savings Bank. known as J. Ruff's, after five days' ran, posted the R. sixty days' notice clause. The President and Secretary of the Treasury, in conference this evening, out decided that the Treasury will pay no more corrency. excent for ordinary disbursements. $2,000,000 in currency remain Richard- in the for current purposes. draw on the Treasury will only 40,000,000 Governson for necessities of the serve He has helped the banks by issuing ment. $12,000,000 for bonds and they must now take care of themselves. CHARLESTON, September 25.-There run on the banka. The Freed- days' is men's no Savings Bank exacts sixty usual. notice; the other banks pay as SELMA, AIA, September 25.-The Selma Savings Bank has suspended; assets believed ample. SAVANNAH, GA., September 25.-A on commenced early this morning, Savanrun departments of the and Trust Company, nah the savings Bank and and large the Southern Bank of Georgia, crowds are congregated. The banks is are at dollar for dollar. Business a stand-still, for paying rency. complete 25.-The lack of cur- run SAVANNAH, September Cowthe Savannah Bank and Trust on cased at noon, but continued the OD pany Southern Bank of Georgia to close. the The Chamber of Commerce is considering the matter. AUGESTA, September 25.-The and Na. tional Exchange Bank, Merchants' Planters' National Bank of Augusta, and Planters' Loan and Savings banks Bank have suspended. The run on the has been heavy, especially this morning. Cotton is coming in freely, but there Na 18 to move it. The Bauk paid out us usual, to be no serious run on tional no money First but it; there the 11 will pay as long as appears President vaults, there and is of currency in the that it will The snspended dollar the there storm. is confidence banks weather dollar have ample assets, and will meet every off. liabilities when the pressure eases of Commercial circles are hopeful, and amoug A meeting of men. there areno large suspensions merchants business com- at the Exchange rooms appointed a the mittee to wait upon the directors of Railroad and Banking Com and other bank', issue some medium Georgia pany, them to and of exchange request The to bridge over the present crisis. banking house of John J. Cohen & euepended; their assets are but bonds and stocks as there is no market ample, Sons sold, has for cannot the best be securities, even at a sacrifice. ATLANTA, Septembe. 25.-The Dollar Savings Bank has suspended; ample curities. NEW ORLEANS, September 23.-A of all the bank presidents exresolved to pay 110 over meeting cept two certified. obecks This $100; larger checks to be lasts thirty days. MEMPHIS, September 25.-The First National Bank of Memphis suspended. DETROIT, September 25.-Two bank ers have failed. CHICAGO, September --The Chi Clearing House has resolved, until and in view of affairs in cago turbed further condition action, the of New difficulty the York disand in other cities. and in converting balauces in currency, and advice of the Bank Examiner, our on members be recommended and authorized to suspend currency payments on large demands made upon them, any either from country banks or over their counters. ST. LOUIS, September 25.-It was decided at a meeting of the brokers, held last night, to suspend payments of checks or drafts, either in currency or exchange, until the excitement in the East subsides, and a firm condition in the market is restored. MEMPHIS, September 25.-The bank failures are attributed to inability to realize upon securities in New York. The First National and Kelso Banks have suspended; there is 8 run on the others. CINCINNATI, September 25.-The Cincinnati Clearing House Association has just a resolution, ofsour protection adopted commercial that interests, for the and for the purpose of preventing a drain of currency from the banks and bankers of this city. we do hereby agree to adopt substantially the plan adopted in New York, viz: They will not pay out currency on checks except for stanli sams, to be optional with the banks whom they are drawn; but they will checks drawn on in their hands, payable upon certify through balances the Clearing House only.

5. September 26, 1873 The New York Herald New York, NY
Article from The New York Herald, September 26, 1873

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A Suspension in Selms, Alabama. SELMA. Ala.. Sept. 25, 1333. The Selma Savings Bank suspended to-day. The assets are believed to be ample to pay all its debts and liabilities, and to save the capital stock nearly entire. It was forced to suspend because the shock to public credit prevented the sale of cotton, and thus made collections impossible.

6. September 26, 1873 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, September 26, 1873

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SELMA, ALA. SELMA, Ala., Sept. 25.-The Selma Savings Bank BUSpended to-day. The assets are belloved to be ample to pay all its debts and liabilities, and to save the capital stock nearly entire.

7. September 27, 1873 Eureka Daily Sentinel Eureka, NV
Article from Eureka Daily Sentinel, September 27, 1873

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ALABAMA. SELMA. Sept. 26. The Selma Savings Bank suspended to-day. The assets are believed to be ample to pay all liabilities and save the capital stock nearly entire. VIII ITUNT

8. September 27, 1873 Pioche Daily Record Pioche, NV
Article from Pioche Daily Record, September 27, 1873

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Telegraphic Dispatches SPECIAL TO THE PIOCHE DAILY RECORD. Eastern Dispatches. The Finances-- Disappointment at the Action of the Government--Lo Bonds Found-Alabama Bank Suspended-=Georgia Financies-Phila delphia Races: Goldsmith Maid Heats Fullerton - New Jersey Bank Suspends-913,000,000 - of Greenbacks Disbursed since Saturday - Arrival of Wilkie Collins-Banks Suspended - Bank Closed in Washington. NEW YORK, Sept 25. There has been no panic on Wall street but a quiet The action of pression. to-day, the feeling Government of dein its bond even suspending purchases, intense if it is to be temporary, creates A of the states disappointment. Secretary Treasury telegram from that vis- the his official duties will prevent him from iting New York and consulting with the Clearing House Committee. the examination During this Union morning Trust of the large safe of the a box belonging to Company, found the missing to Secretary was opened and contain $25,000 in United States bonds which had been supposed to be lost. Howes & Macy have resolved to open their doors and solicit special deposits on trust obligations, to be paid as fast as they can realize on the securities of foreign exchange. NEW YORK, Sept. 25. The London Times of the 12th has the from Verdun, dated 11: "An incident Sept. following telegram occurred become yester- pubwhich did not or it might day licly known, happily have produced much excitement. At 11 o'clock, at the moment when financial questions were believed to be entirely settled, the Germans suddenly declared that another million francs was due them for having kept up the postoffice on behalf of the French Government during the occupation of French departments. On being asked to give details of this claim they replied that they had accurately estimated what was due them, and if the million was not paid they would prolong the ocThe matter was cupation. to Government, and immediately referred the upon an order from Versailles the Receiver of Taxes at Verdun this morning paid the sum claimed. SELMA, Ala., Sept. 25. The Selma Savings Bank suspended to-day. Assets are believed ample to pay all liabilities, and save the capital stock nearly entire. SAVANNAH, Ga., Sept. 25. on the and Trust has on The Company run Savannah ceased. Bank That the Bank of Georgia continued up to the hour of closing. Both are thought to be fully able to meet all demands. Other banks are proceeding as usual, The ex25 eitement is diminishing 680 100 100 trustee To wart Thos, Truste Hart Than PHILADELPHIA, Sept. 25. The race for a purse of $5,000, bey a tween Goldsmith Maid and Judge Fulr. lerton was won by lhe Maid. Timele 2:22, 2:21 1/2, 2:23 1/4 ATLANTA, Ga., Sept. 25. y The Dollar Savings Bank suspended to-day. ror NEWARK, N. J. Sept. 25. The State Bank at Brunswick suspenThis is the bank crippled e by of ded the to-day. irregularities Appleton, Cashier. is NEW YORK, Sept 25. k The actual disbursements of greene backs for the purchase of bonds by the Sub Treasury since Saturday, are $13, ot 000,000 r. h, Wilkie Collins is among the arrivals is from Europe to-day. eCHICAGO, Sept. 26. e, It is announced Union just that the s, Second National, National 1facturers' National, banks have and suspend Manuay ed. A notice on the door of the former atsays the bank has abundant securities, ce but is compelled to suspend payments, in on account of the lack of currency until nt it will be able to realize. Nothing has ne been lost from the failures, and deposito tors will be made safe. The Cook County, City National, and National Bank of Commerce have fol ay lowed the example of the Union National n8 and closed their doors. There was he run for an hour on the Commercial Ex

9. October 2, 1873 Puget Sound Dispatch Seattle, WA
Article from Puget Sound Dispatch, October 2, 1873

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The Mining Gazette reports the the discov- Fuller of immense cave in 225 feet mine ou an the Little Cottonwood. of minlarge dedosits rals. leep, exposing There is great excitement he matter. YORK, Sept. 25.- There but has been NEW in Wall street to-day, at the 10 panic a feeling of depression suspending was quite of the Government in Even if it is action purchases. temporary its bond it creates unquotable. intense disappoint- Banks Money is association ment. in the clearing house as proto day polling their legal resolutions. tenders, One are vided by yesterday's strong which stand exceptionally in, but or two to put their legal tender be pollconcluded refused to do SO rather than Loan certifi from the association. to cates ed issued by clearing house Greenbacks to-day extent of $37,000,000. sales are the still worth a premium and were made are premium and sales ercent worth to-day a all the way from 1 to 31/4 for certified deadlock checks. in the Foraging of danger The the great point 1 change is now foreign trade it involves not only our domestic trade. I as department of are e but every of encouragement and that Some signs are going in deposits, through the n banks machinery for going Order the working satisfactorily. stock crisis is interior for purchases of at from the the present low firms rates have a.e traded increasing among responsible extent. and to-day to quite an show a themselves of the WesternRailrouds the past A largely number increased earnings for few weeks. to d Howes & Macrie solicit have resolved special detrust. open their doors and Their former obliga- realposits on be paid as fast as they an exto During amination, ize on tions are their this securities. forenoon, of a the box large beof the Union Trust Co., Secretary was safe to the missing $27. 000 in longing and found to contain to e opened U. S. bonds which were supposed to have been lost. o e at the WASHINGTON, Sept. 25.- Treasury conference DepartK was held ,between to day the Secretay of the and Treaw r ment Assistant Secretary Sawyer nearly ury, General Williams, lasting complete tormey at which a full and fi2 hours, of views on the prevailing of nuncial exchange troubles, and the Governent. propriety It further action by the determination was certain that a all present seems and concurred in by reached the Government should reserve not for that of the legal tender bonds, alportion of additional y the purchase this reserve may be temporarily wants though upon for the absolute not to encroached Government, but then view to of the extent and not with any undergreat The present inflate currency. is that the Department as be far standing it has helped the bankers will lieves security and conistency intenas public so at present there is instructions no admit, tion of issuing additional bond purchases. n for NEW YORK, Sept. 25. -Henry received Clews and Howes & Macrie have their way Co. deposits which were on The large time of their suspension. to customamounts at the have been credited order. and held subject to their ers Ga., Sept. 25.-National and PlantAUGUSTA, Bark, Merchant's and the S Exchange National Ban's of Augusta. Bank have er's Loan and Savings banks has Planter's The run on the morning. n suspended. been heavy. especially this but there Cotton is coming in freely 19 money to move it. no Ala., Sept. 25 Selma Assets SavSELMA, Bank suspended to day. all liabilities y ings to be ample to meet entire. believed and save the capital stock nearly the Sept. 25 The run has on ceasSAVANNAH, Bank and Trust Co. conSavannah on the Bank of Georgia Both ed. That to the hour of closing. meet all tinued thought up to be fully able to are proare The other banks is f ceeding demands. us usual and the excitement be diminishing. NEW ORLLANS, Sept. 25 -A presidents meeting morning, of all the bank to pay this except two, resolved in the city, for more than $100; all larger t checks no checks to be certified; this arrangement to continue for days. MADRID, Sept. 25. It is expected will e the bombardment of Cartagena Sunday.that reopened on atu.day or unable to : be Insurgent men-of-war are serve move, The the engineers refusing to any longer. n in CHICAGO, Sept. 25. -The effect of been the troubles in New York has is financial felt here mainly in the depression lower of is prices of grain, which are much months. is than they have been for several Teleir LONDON, Sept. 25.-- The Daily financial in an editorial on the vir& crisis graph, in New York, recommends and a y tual suspension of all payments the st substitution of a system of individual will be W credit. By these means time y given for the excitement to subside. d banks of this ait NASHVILLE, Tenn., Sept. 26 The National

10. October 3, 1873 The True Northerner Paw Paw, MI
Article from The True Northerner, October 3, 1873

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In the South. MEMPHIS, Sept. 25.-Nearly every bank in the city has been forced to suspend. The utmost excitement and confusion prevailed in the vicinity of the banks, as the eager depositors gathered about the institutions, and in some instances the police had to guard the doors. Advices from Atlanta, Ga., state that cotton is arriving freely, but there is no money to move it. Every bank in Augusta, Ga., has suspended. The Dollar Savings Bank, of Atlanta, has suspended. The Selma (Ala.) Savings Bank has also collapsed. SAVANNAH, Ga., Sept. 25.--There is quite a run on the banks, which are paying dollar for dollar. Business is at a complete stand-still for want of currency. LITTLE ROCK, Sept. 26.-The excitement continues. Everything is at a stand-still. Very few parties take city money, and no greenbacks are in circulation. VICKSBURG, Sept. 26.-The banks have suspended for thirty days as a precautionary measure. COLUMBIA, S.C., Sept. 26. There is no run on the banks here, notwithstanding the excitement elsewhere. Cotton is being disposed of rapidly. MONTGOMERY, Ala., Sept. 26.-Cotton has been coming in rapidly, but not a bale has been sold for want of currency. LOUISVILLE, Sept. 29.-In order to prevent an anticipated "run" on their institutions, the following banks have temporarily closed their doors: German Bank, Masonic Savings Bank, Western Bank, German Insurance Bank, Louisville Banking Company, Western German Savings Bank, Central Savings Bank. The suspended banks are all savings banks, conducted and owned chiefly by Germans, with long lines of small German depositors. All of them have abundant resources, many of them being able to pay $2 for every $1 on deposit out of the a: sets. The banks in the city were heavily drawn on, but are all right, and will not be affected. NEW ORLEANS, Sept. 29.-Except symptoms of a general slight asphyxia caused by a scarcity of currency, there is little change in our financial affairs. The banks continue to pay $25 per day to each depositor that demands it. LITTLE ROCK, Sept. The money panic continues. Never in the history of the city has money been so stringent. It is impossible to get any with any sort of collateral.

11. October 9, 1873 Eaton Weekly Democrat Eaton, OH
Article from Eaton Weekly Democrat, October 9, 1873

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In the South. MEMPHIS, Sept. 25.-Nearly every bank in the city has been forced to suspend. The utmost excitement and confusion prevailed in the vicinity of the banks as the eager depositors gathered about the institutions, and in some instances the police had to guard the doors. Advices from Atlanta, Ga., state that cottonis arriving freely, but there is no money to move it. Every bank in Augusta, Ga., has suspended. The Dollar Savings Bank, of Atlanta. has suspended. The Selma (Ala.) Savings Bank has also collapsed. SAVANNAH, Ga., Sept. 25. -There quite a run on the banks, which are paying dollar for dollar. Business is at a complete stand-still for want of currency. LITTLE ROCK, Sept. 26.-The excitement continues. Everything is at a stand-still. Very few parties take city money, and no greenbacks are in circulation. VICKSBURG, Sept. -The banks have suspended for thirty days as a precautionary measure. COLUMBIA, S. C., Sept. 26.-There is no run on the banks here, notwithstanding the excitement elsewhere. Cotton is being disposed of rapidly. MONTGOMERY, Ala., Sept. 26. -Cotton has been coming in freely, but not a bale has been sold for want of currency. LOUISVILLE, Sept. 29.-In order to prevent an anticipated "run" on their institutions, the following banks have temporarily closed their doors: German Bank, Masonic Savings Bank, Western Bank. German Insurance Bank, Louisville Banking Company, Western German Savings Bank, Central Savings Bank. The suspended banks are all savings banks, conducted and owned chiefly by Germans, with long lines of German depositors. All of them have abundant resources, many being able to pay $2 for every $1 on deposit out of the assets. The banks in the city were heavily drawn on, but are all right, and will not be affected. NEW ORLEANS, Sept 29. -Except symptoms of a slight asphyxia caused by a scarcity of currency, there is little change in our financial affairs. The banks continue to pay $25 per day to each depositor that demands it. LITTLE Rock, Sept. 29.-The money panic continues. Never in the history of this city has money been so stringent. It simpossible to get any with any sort of collateral.

12. October 10, 1873 The Andrew County Republican Savannah, MO
Article from The Andrew County Republican, October 10, 1873

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IN THE SOUTH. MEMPHIS, Sept. 25.-Nearly every bank in the city has been forced to suspend. The utmost excitement and confusion prevailed in the vicinity of the banks as the eager depositors gathered about the institutions, and in some instances the police had to guard the doors. Advices from Atlanta, Ga., state that cotton is arriving freely, but there is no money to move it. Every bank in Augusta, Ga., has suspended. The Dollar Savings Bank, of Atlanta. has suspended. The Selma (Ala.) Savings Bank has also collapsed SAVANNAH, Ga.. Sept. 25.-There is quite a run on the banks, which are paying dollar for dollar. Business is at a complete stand-still for want of currency. LITTLE Rock, Sept. 26.-The excitement continues. Everything is at a stand-still. Very few parties take city money, and no greenbacks are in circulation. VICKSBURG, Sept. 26.-The banks have suspeuded for thirty days as a precautienary measure. COLUMBIA, S. C., Sept. 26.-There is no run on the banks here, notwithstanding the excitement elsewhere. Cotton is being disposed of rapidly. MONTGOMERY, Ala., Sept. 26.-Cotton has been coming in freely, but not a bale has been sold ror want of currency. LOUISVILLE, Sept. 29.-In order to prevent an anticipated "run" on their institutions, the following banks have temporarily closed their doors: German Bank, Masonic Savings Bank, Western Bank, German Insurance Bank, Louisville Banking Company, Western German Savings Bank, Central Savings Bank. The suspended banks are all savings banks, conducted and owned chiefly by Germans, with long lines of small German depositors. All of them have abundant resources, many being able to pay 82 for every 81 on deposit out of the assets. The banks in the city were heavily drawn on, but are all right, and will not be affected. NEW ORLEANS, Sept. 29.-Except symptoms of a general slight asphyxia caused by a scarcity of currency, there is little change in our financial affairs. The banks continue to pay $23 per day to each depositor that demands it. LITTLE Rock, Sept. 29. - The money panic continues. Never in the history of this city hais money been 80 stringent. It is impossible to get any with any sort of collateral.