Exchange Bank (Tupelo, MS)

Episode Information

Episode UID
2655111491006
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
265511149 hash
Start Date
October 4, 1883
Location
Tupelo, Mississippi (34.258, -88.703)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
b2223e7dd234a2b4

Response Measures

None

Description

Article only reports suspension (Oct 4, 1883) with low paid-in capital; ultimate disposition not reported—additional sources would confirm closure.

Events (1)
1. October 4, 1883 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Reported authorized capital $100,000 but only $2,000 paid in, indicating insolvency/undercapitalization.
Newspaper Excerpt
The Exchange Bank, of Tupelo, Miss., suspended on the 4th.
Source
newspapers

Newspaper Articles (2)
1. October 10, 1883 Watertown Republican Watertown, WI
Article from Watertown Republican, October 10, 1883

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Article Text

Financially Embarrassed. News was received on the 5th inst., of the failure of the Merrill, (Wis.) Manufacturing Company. The liabilities of the concern are estimated at between $75,000 and $100,000. The business failures in the United States and Canada for the week ending on the fifth number 188, against 180 for the week previous. Max Waistein, of New York, dealer in knit goods, failed on the 5th inst., with liabilities placec at $70,000. The Exchange Bank, of Tupelo, Miss., suspended on the 4th. The authorized capital was $100,000, but only $2.000 was paid in. Tupelo is a town of 600 inhabitants. Messrs. Size & Smith, of London, England, East and West India merchants, failed on the 4th irst., with liabilities to the amount of £25,000. Jose Pollard & Co., merchants, Newcastle, England, closed their doors on the4th. Liabilities £30,000. Hill & Rowe, an old Boston shoe firm, failed on the 3d. Colman Brothers, clothiers, New York and San Francisco, suspended on the 1st inst., with liabilities estimated at $300,000.

2. October 11, 1883 Turner County Herald Hurley, SD
Article from Turner County Herald, October 11, 1883

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Article Text

Financially Embarrassed. News was received on the 5th inst., of the failure of the Merrill, (Wis.) Manufacturing Company. The liabilities of the concern are estimated at between $75,000 and $100,000. The business failures in the United States and Canada for the week ending on the fifth number 188, against 180 for the week previous. Max Walstein, of New York, dealer in knit goods, failed on the 5th inst., with liabilities placec at $70,000. The Exchange Bank, of Tupelo, Miss., suspended on the 4th. The authorized capital was $100,000, but only $2,000 was paid in. Tupelo is a town of 600 inhabitants. Messrs. Size & Smith, of London, England, East and West India merchants, failed on the 4th 000. inst., with liabilities to the amount of £25,Jose. Pollard & Co., merchants, Newcastle, England, closed their doors on the 4th. Liabilities £30,000. Hill & Rowe, an old Boston shoe firm, failed on the 3d. Colman, Brothers, clothiers, New York and San Francisco, suspended on the 1st inst., with liabilities estimated at $300,000.