Augusta Insurance & Banking Company

Bank Information

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

Metadata

Model: gpt-5-mini
Short Digest: 54456a00

Response Measures

None

Description

Articles (dated Oct 21 and Oct 23, 1857) report that the Augusta Insurance and Banking Company suspended on Oct 17, 1857 along with other Augusta banks at the solicitation of our entire business community amid the present depression. No reopening or resumption is mentioned in these snippets; therefore I classify as a suspension with no evidence of reopening. Bank type unclear from name; left as unknown.

Events (1)

1. October 17, 1857 Suspension

Cause: Macro News
Cause Details: Suspended amid the present depression (Panic/depression of 1857) and at solicitation of business community to facilitate bringing produce to market.
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.