2771. Merchants & Planters National Bank (Augusta, GA)

Bank Information

Episode Type: Run → Suspension → Reopening
Bank Type: national
Bank ID: 1703
Charter Number: 1703
Start Date: September 25, 1873
Location: Augusta, Georgia (33.471, -81.975)

Metadata

Model: gpt-5-mini
Short Digest: f8c84ab4

Response Measures

Accommodated withdrawals, Full suspension

Other: Bank suspended payments Sept 25, 1873 amid nationwide Panic of 1873; later resumed payment of small checks (per local reports).

Description

Multiple contemporaneous reports (dated Sept 25, 1873) state a heavy run on Augusta banks and that the Merchants & Planters National Bank suspended payments on Sept 25. A later local dispatch (Edgefield Advertiser) reports the Merchants & Planters National resumed payment of small checks and settled larger amounts by certified checks, indicating reopening after the suspension. The broader cause is the national financial panic of 1873 (macroeconomic shock) causing heavy withdrawals; no specific misinformation event is described.

Events (5)

1. August 26, 1870 Chartered

Source: historical_nic

2. September 25, 1873 Run

Cause: Macro News
Cause Details: Heavy withdrawals driven by the nationwide financial panic of 1873 and loss of liquidity; depositors demanded currency to move cotton and meet obligations.
Measures: Paid small checks while suspending large currency payouts; later used certified checks/clearing-house arrangements for larger settlements.
Newspaper Excerpt: The run on the banks has been heavy, especially this morning. Cotton is coming in freely, but there is no money to move it.
Source: newspapers

3. September 25, 1873 Suspension

Cause: Macro News
Cause Details: Suspended payments due to heavy withdrawals and lack of currency amid the national financial crisis; banks suspended to stem currency outflow and await relief/clearing arrangements.
Newspaper Excerpt: The National Exchange Bank, the Merchants' and Planters' National Bank of Augusta, and the Planters' Loan and Savings Bank have suspended.
Source: newspapers

4. October 1, 1873* Reopening

Newspaper Excerpt: The Merchants and Planters National Bank ... resumed the payment in currency of small checks yesterday, and effected settlement of larger amounts by certified checks ... expects to be firmly on its legs next week, doing business as usual. (Edgefield Advertiser report describing resumption of small payments and certified checks.)
Source: newspapers

5. March 30, 1875 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (11)

1. September 26, 1873 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN

Article from Memphis Daily Appeal, September 26, 1873

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MEMPHIS, TENN FRIDAY, SEPTEMBER 26, 187 "Erle" in Lone IS SHREVEPORT. very much as usual. A meeting of several has helped the banks as far as public serLONDON, September 25. vice and consistency will admit. So dry-goods men was held at Claflin's called by President Wats that at present there is no intention of last week, at which they resolved to of the affairs of the Erie stand by each other. It was agreed to issuing additional Instructions for bondThe Fever Spreading in Town and purchasers. Rumors at Washington deposit as usual with their bankers, an place to-day, and was att Country-The I eaths Yesterday 4. from the south, as well as from New arrangement having been affected sands of persons, many -List of Deceased. e ing present. The meeti York and other places, say the secrewhereby they can draw what money n as stormy. A resolution tary of the treasury has advised the they require for business purposes, as Watson was adopted, an temporary suspension of all banks, but heretofore. The arrangement has been The Physicians to Report on the Origin there is not the slightest indication that Bischoffshar and Henry found to work satisfactorily for all of the Fever - Destitution as such policy has been or will be advised. parties concerned. 5, with a storm of mingle Terrible as the Disease. Secretary Richardson asserts that furcheers. Watson, in exp THE PRODUCE MARKET. e. ther than helping the banks by bond affairs of the company, A general conversation with dealers was some apparent dubi purchases, which have been made, he At the produce exchange to-day, shows THE TOWN A HOSPITAL. the accounts, but he belief has nothing to advise, and only looks to n that the market for flour, breadstuffs, the interests of the government. The correct. They wanted LITTLE Rock, September -Parties e petroleum and naval stores remains in situation, so far as the government is immediately to finish the from Shreveport, who left yesterday, reh a nominal state. Dealers cannot act inconcerned, is unchanged since the close already commenced, and port the fever abating very little if any. telligently or make future contracts rail. of business yesterday, when purchases It is now extending out in the country. e while the present uncertainty continue, of bonds were stopped. The arrival of Those who are left in the afflicted city d consequently transaction are limg the President to-night may possibly reare almost completely broken down. MARRIED ced. The grain trade is extremely sult in additional instruction, but this The town is a hospital, no business is quiet, and the absence of a market at present is merely problematical. The attempted to be done, and nurses are for commercial exchange is checkFOWLER-MILLER-At 1 cabinet meeting to-morrow will have badly needed. ing business to a great extent. Samuel Miller, No. 173 Alal the weight of financial matters for geneINTERMENTS YESTERDAY. On this account dealers are unRev. Father Walsh, on Th n ral consideration and the action by the able to dispose of their merchandise to SHREVEPORT, September 25.-InterSeptember 25th, Mr. JOSE H (heads of the government department. shippers, and the current has set back to Miss EFFIE MILLER, all of th ments to-day: Chris. Reamerty, 35; y Intense interest is felt in the result, and the west. Dow Looney, 50; C. M. Brown; Mrs. d no officials here have any idea that there Mary Calhoun, 35; Garror, 45; M. J. will be a called session of congress with DIED. [BY MAIL.] Austin, 6; F. J. Curtis, 5; John a view to relieve financial difficulties. REMOTE CAUSES OF THE PANIC. Stewart, colored; Mrs. Swanson, 65; THE LEGALITY OF FURTHER USE OF MADDEN-Thursday, Sep Colonel E. L. Terrey; T. Heffner, 38; From the New York Tribune.] CURRENCY. CATHARINE, only daughter ic McSweeney, age 35; Joe Delacroix, age Eliza Madden, aged eleven Before we apply desperate remedies in WASHINGTON, September 25.-The months. 35; Albert TurLer, colored, age 35; Vicwe should understand the nature of the e secretary of the treasury with Assistanttoria Holmer, colored, age 14; infant, Friends and acquaintance disease. We have maintained and still y are invited to attend the I Secretary Sawyer and Attorney-General colored, age 4; Paul Myers, colered, age insist that an inflation of the legal-teng Williams, have been in consultation at Ju. Williams, colored, age 28; Mrs. o'clock this (FRIDAY) after der circulation is no cure for the malady n the treasury department for a long time residence, 128 Front street. M. Preseott, age 52. There were two which afflicts us. This will appear if 2, to-day; it is supposed upon the legality interments outside of the city limits, but HOULIGHAN-At his re we go back and examineinto the remote 7. of further use of currency by the governthe Sisters of Charity were unable to asJackson street, Thursday aft causes-not so very remote, after aller25th, at half-past three o'e , ment for the purchase of bonds. Firstcertain their names; also an unknown which have produced the present state LIGHAN, aged forty-seven yea Swede. Comptroller Taylor was present during of things. We are bound to suffer for Funeral will take place fro INCREASING. a part of the conference. Several bankour follies. Inflation may postpone for 1 this (FRIDAY) morning at ets of this city called on Secretary The fever, which seemed to have a short time the day of reckoning, but friends and acquaintances d Richardson to-day for the purpose of oba abated yesterday, broke out with inthat day will surely come. The trouble invited to attend. taining currency to meet their demands, e with us is our immense mass of increased energy last night, and this PRINCE-The funeral of I but though bonds were offered here, no y morning many new cases occurred in debtedness, both foreign and domestwill take place at Alabama purchases were made. d ic. It must never be forgetten that the city and suburbs. Among the corner of Jones avenue, this ( 1. THE AUGUSTA, GA., BANKS. by far the larger part of that inpromineut citizens taken 10-day are: ing, September 26th, at 10 o'el debtedness is :the direct effect of y C. W. Lewis, business manager of the AUGUSTA, September 25.-The NaDALTON-The friends an Times; Colonel L. M. Nutt, Major John the inflation of our currency. The paytional Exchange bank, Merchants' and of J. T. DALTON and Mrs. A C. Moncure and M. S. James. Miss ment of debts has always been found Planters' National bank of Augusta, and vited to attend his funeral Moncure and Mrs. Clarke are dangertroublesome, yet it is the only honest the Planters' Loan and Savings bank, street, this (FRIDAY) a.terne ously ill. Drs. Chapin, Davidson and way of getting rid of them. Privation have suspended. The run on these banks e Bruns pronounce the disease genuine and suffering must be endured or the has been heavy, especially this morning. I. O. O. F. FUNERAL money cannot be saved with which to yellow-fever of the most malignant type. Cotton is coming in freely but there is S make the necessary disbursements. And A MEETING OF PHYSICIANS no money to move it. a now let us calmly consider how we THE officers and membe was held last night but nothing was s

2. September 26, 1873 The Wheeling Daily Intelligencer Wheeling, WV

Article from The Wheeling Daily Intelligencer, September 26, 1873

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SUGGESTIONS FROM THE N. Y. PRODUCE EX CHANGE. NEW YORK, Sept. 25.-The Produce Exchange adopted the following resolutions: WHERAS, The critical condition of the commercial interests of the country requires immediate relief by the removal of the block in the negotiation of Foreign Exchange, Therefore be it Resolved, That we respectfully suggest to the Secretary of the Treasury the tollowing plans for relief in this extraordinary emergency: 1st. That currency be immediately issued to banks or bankers upon satisfactory evidence that gold has been placed on special deposit in the Bank of England by their correspondents in London, to the credit of the United States, to be used solely in purchasing Commercial Bills of Exchange, and that the President of the United States and the Secretary of the United States Treas ury are respectfully requested to order im mediate prepayment of the outstanding loan of the United States due January 1st 1874 The Steamer Cambria brought $132, 500. NOTICE REQUIRED BY NEW HAVEN SAYINGS BANKS. NEW HAVEN, Sept 25.-The managers of the Savings Banks of this city have voted it prudent to require notice of the the withdrawal of large deposits, but will continue to pay small amounts on demand. Thus far there has been no run on any of the Sayings Banks, National Banks, State Banks, Trust Companies, or private banks in the city, but the course of the Savings Banks has been followed to protect borrowers and depositors alike. Every Savings Bank in the city has a handsome surplus above its liabilities, and the depositors feel no uneasiness The Augusta National Exchange Bank Merchants & Planters' National Bank, of Augusta, and the Planters' Loan and Savings Banks have suspended. The run on the banks has been heavy, especially this morning. Cotton is coming in freely but there is no money to move it. PANIC SUBSIDED AT RICHMOND. RICHMOND, Sept. 5.-The panic has entirely subsided and there is no visible excitement on the street. The bank officers this morning unanimously resolved to adopt a system of issuing loan certificates as is now in operation in New York, Philadelphia and Baltimore, so as to give relief to the community. The failure of Mclivaine & Co., of Petersburg, is contradicted. A CONFERENCE AT THE TREASURY DEPARTMENT WASHINGTON, Sept 25.--The Secretary of the Treasury with Assistant Secretary Sawyer and Attorney General Williams. have been in consultation at the Treasury Department for a long time to-day, it is supposed upon the legality of further use of currency by the government for the purchase of bonds. First Comptroller Taylor was present during part of the conference. Several bankers of Abia city called on Secretary Richardson to day for the pur pose of obtaining currency to meet their demands; but, though their bonds were offered here, no purchases were made The employes of the several departments are being paid off at the request of Governor Sheppard, for the purpose of easing the market in this district. SEC'Y RICHARDSON UNABLE TO VISIT NEW YORK NEW YORK, Sept. 25.-A telegram from the Secretary of the Treasury states that his official duties prevent him from visiting New York and consulting with the Clearing House Committee. A LUCKY HIT FOR THE U. T. CO During the examination this morning, of the large safe of the Union Trust Co., a box belonging to the missing Secretary was opened and found to contain $25,000 in United States bonds, which were sup posed to have been lost. RUN ON SAVINGS BANKS AT DETROIT DETROIT. Sept. 25.-The run on the savings banks is quite extensive to-day They all insist upon thirty days notice for large amounts. David Preston & Co. and F. L. Seitz & Co., bankers, have suspended. MORE OF THE TREASURY CONFERENCE THE LEGAL RESERVE NOT TO BE USED WASHINGTON, Sept. 25. conference between the Attorney General and Secretary of the Treasury to day lasted nearly two hours. There was a full and complete exchange of views on the prevailing financial troubles and the propriety of further action by the government. It seems certain that a determination was reached and concurred in by all present that the government should not use any portion of the legal tender reserve for the purchase of additional bonds, although this resolution may be temporarily encroached upon for thewants of the gov ernment, but then not to any great extent and not with any view to inflate the'currency, as the Secretary, even if forced by circumstances to put out any portion of legal tenders. beyond the $356,000,000, will, as he did in the first two or three months of his administration, reduce the amount to that standard again at the ear liest and most practicable time. The present understanding is that the Department believes it has helped the banks as far as the public service and consistency will ad mit So that at present there is no intention of issuing additional instructions for bond purchases RUMORS CONTRADICTED. Rumors have reached Washington from the South, as well as from New York and other places, that the Secretary of the Treasury has advised a temporary suspension of all the banks. but there is not the slightest indication that such a policy has been or will be advised. Secretary Rich ardson asserts that, further than helping banks by the bond purchases which have been made, he has nothing to advise. He only looks to the interest of the Government. The situation, so far as the Government is concerned, is unchanged since yesterday when purchases of bonds were stopped.

3. 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.

4. September 26, 1873 The New York Herald New York, NY

Article from The New York Herald, September 26, 1873

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NEW carpet company, the details of which were presented in the HERALD some weeks ago. Appleton, it appears, made large advances to Woodworth on securities which are not now considered sound. The bank officers decline to furnish press representatives any statement, but It is declared in New Brunswick financial circles that the entire surplus and capital were swept away by the deficit. and that papers are now out for the apprehension of Appleton and Woodworth. The Boston Banks Conservative. BOSTON, Mass., Sept. 25, 1873. The course of the Boston banks during the existing financial crists in New York appears to be simply cautious and conservative, restricting and reducing loans as far as possible. even at a large interest, and keeping as much currency as possible for cashing checks in the regular course of trade. Philadelphia Getting Back to Business. PHILADELPHIA, Sept. 25, 1873. A more hopeful feeling exists here among merchants : nd prices of goods continue very steady. Third street is quiet. All the national banks, savings banks and such of the State banks as did not suspend pursue business in the usual manner. The Board of Brokers continues in session, and have adopted the following resolution:Resolved. That, until otherwise ordered, certified checks or due bills on any of the associated banks will be received in settlement of contracts between members of the Board. Chicago Imitates the Example of New York. CHICAGO, III.. Sept. 25, 1873. The Clearing House Association held an important meeting last night to consider the financial situation. Alter an animated discussion, which exlsted till nearly one o'clock this morning, the following resolution was adopted: :Resolved, That, until further action and in view of the disturbed condition of affairs in New York and other cities, and the difficulty in converting balances into currency, and on the advice of the Bank Examiner, our members be recommended and authorized to suspend currency payments on any large demands made upon them, either from country banks or over their counters. the of Action Cincinnati Clearing House. CINCINNATI, Ohio, Sept. 25, 1873. 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 banks and bankers of this city, we do hereby agree to adopt, substantially, the plan adopted in New York, viz. -We will not pay out currency on checks except for small sums, to be optional with the banks upon which they are drawn. but 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. Railroad and other stocks and bonds and bills receivable are received at seventy-five per cent of the value fixed on them by the committee. Loan certificates are issued by the committee, which can only be used in the settlement of balances between the banks and are not negotiable. Bank Suspensions in Augusta, Ga. AUGUSTA, Sept. 25, 1873. The National Exchange Bank, the Merchants and Planters' National Bank, of Augusta, and the Planters' Loan and Savings Bank have suspended. The run on the banks has been heavy, especially this morning. Cotton is coining in freely, but there is 20 money to move it.

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

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Bank Suspensions in Augusta, Ga. AUGUSTA, Sept. 25, 1873. The National Exchange Bank, the Merchants and Planters' National Bank, of Augusta, and the Planters' Loan and Savings Bank have suspended. The run on the banks has been heavy, especially this morning. Cotton is coining in freely, but there is 20 money to move it.

6. September 26, 1873 New-York Tribune New York, NY

Article from New-York Tribune, September 26, 1873

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New-Orleans Nat'al Bank. Citizens' Bank. Bank of America. Union National Bank. Germania National Bank. New-Orleans Nat. Banking Association. Teutonia National Bank. Canal Bank. Louisiana National Bank. Mutual National Bank of Hibernian National Bank. America. Bank of Lalayette. State National Bank. People's Bank. Pike Bros. & Co., bankers. Clearing-house certificates at the rate of 75 cents on the dollar will be issued on collaterals deposited by banks, and certified checks of the Cleaning-house will be used instead of currency. IN GEORGIA. AUGUSTA BANKS SUSPENDED-NO MONEY TO MOVE COTTON. AUGUSTA, Sept. 25.-The National Exchange Bank, the Merchants' and Planters' National Bank of Augusta; and the Planters' Loan and Savings Bank, have suspended. The run on the banks has been heavy, especially this morning. Cotton is coming in treely, but there is DO money to move it. A BANK SUSPENSION AT ATLANTA ATLANTA, Sept 25. - -The Dollar Savings Bank of this city suspended-to-day. It has ample securities.

7. September 26, 1873 Chicago Daily Tribune Chicago, IL

Article from Chicago Daily Tribune, September 26, 1873

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AUGUSTA, CA. AUGUSTA, Gs., Sept. 25.-The National Exchange Bank, the Merchants' and Planters' National Bank of Augusta, and the Planters' Loan and Savings Bank have suspended. The run on the banks has been heavy, especially this morning. Cotton is coming in freely, but there is no money to move it.

8. October 1, 1873 Knoxville Weekly Chronicle Knoxville, TN

Article from Knoxville Weekly Chronicle, October 1, 1873

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Suspension of New Orleans Banks. NEW HAVEN, Sept. 24.-The Savings banks are enforcing the legal delay in paying depositors. There is no serious run. NEW ORLEANS, Sept. 25.-A meeting of all the bank Presidents except two, resolved to pay no checks over $100. The larger checks to be certified. This lasts thirty days. MEMPHIS, Sept. 25.-The First National Bank of Memphis has suspended. AUGUSTA, Sept. Business is blocked, the cotton market has suspended operations on account of no currency to buy cotton. The First National Bank paid out as usual, but there appears to be no serious run on it. The President will pay as long as there is a dollar in currency in the vault. There is confidence that it will withstand the storm. The suspended banks have ample assets and will meet every dollar of their liabilities when the pressure eases off. Commercial circles are hopeful. There have been no suspensions of business men. ATLANTA, Sept. 25.-The Dollar Savings Bank has suspended, but has ample securities. AUGUSTA, Sept. 25. - The National Exchange Bank, the Merchants' and Planters' National Bank of Augusta and the Planters' Loan and Savings Bank have suspended. The run on the banks has been heavy, and especially this morning. The cotton is coming in freely but there is no money to move it. JACKSON, MISS., Sept. 25.-On account of the monetary panic and the run on all the banks in this city, two of which have suspended, business is almost entirely suspended.

9. October 2, 1873 Edgefield Advertiser Edgefield, SC

Article from Edgefield Advertiser, October 2, 1873

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The Situation in Augusta. There were very perceptible indications yesterday of a continued diminution of the panicky feeling created in commercial circles in Augusta on Thursday by the suspension of currency payments by several of our banking institutions. Depositors, where assured of the solvency of the institutions with which they were doing business, begin to appreciate the utter fol. ly of lashing themselves into a mid-summer perspiration simply because they can not get possession of their entire deposits in so that they may lock it up in their own a every coutingency currency, that strong they boxes will against require remote dollar for business purposes They begin to realize that upon just such food panics and increase and their grow have strong made up minds their tobe breadth, to satis an fied with a sufficiency of currency swer their most exhibition of of this pressing disposition demands. has been The incalculable financial relief. throughout the city and adjacent country, in encouraging our suspended banking institutions to resume and continue the payment of small checks, affording 111 the aggregate great relief to a class of depositors which otherwise must have experienced severe deprivations, from lack of money to purchase food supplies and seasonable clothThe even payments ing. permeate benefits the of whole these community, small and gradually find their wav back to the individual or institution making them. A MOST GRATIFYING SHOWING. The National Bank of Augusta, W.E. Jackson, President, throughout yesterday stood the pressure just as if it were veritable financial " Stonewall"-meeting all demands of depositors Among its heaviest payments were $8,300 to the Augusta Factory, to pay the operators of that establishment; between $5,000 and $6,000 to the city of Augusta, to pay th canal hands; and $1,200 on a check of the Orphan Asylum in favor of W. H. Goodrich. In addition, a number of checks for smaller amounts were paid to merchants and other depositors. And yet, at the its of were the close currency of day's business, $7,000 to the $8,000 depos- in excess of the amount of currency with which the bank commenced business the morning. The Georgia Railroad Bank remained firm and unyielding as Gibralter," waxall ing while still honoring stronger in checks its currency of depositors. supply, This institution is a recognized king of the present monetary crisis, and just about as safe and stroug as human institutions get to be. The Merchants and Planters National Bank, ex-Gov. C.J Jenkins, President, resumed the vent in currency of small checks yesterday, and effected settlement of larger amounts by certified checks, now current in the city. This institution expects to be firmly on its legs next week, doing busines as usual. The National Exchange Bank, Alfred Baker President, continued to pay small checks in currency yesterday, and make settlements with depositors desiring to accept first class securities. Messrs. John J. Cohen & Son, bankers, paid. in currency all demands made on them yesterday, and will gradually be to currency to dollar for prepared dollar pay deposited with depositors them. They will resume business on Monday under the same schedule as run yesterday. will be arrangements Deposits having received been and made checks by them sold, for the same. The Commercial Insurance and Banking Company continued to meet all demands of depositors The Freedman's Savings Bank remains in currency, under possession the sixty of its days' supply notice of rule. But few notices have been filed by depositors, and by the time the sixty days. run out, they will doubtless be fully satisfied to leave their deposits where they are. Commercial circles promise to weather the storm, and our merchants are heroi cally addressing themselves to the labor of the the can. trade-doing turning poorly very greased best they wheels of local The aspect of affairs is certainly encouraging and hopeful. Money is expected from New York by some of our cotton men about the middle of the present week, with which to purchase cotton, when general contraction of lengthened countenances will follow.-Constitutionalist,

10. October 2, 1873 Wood County Reporter Wisconsin Rapids, WI

Article from Wood County Reporter, October 2, 1873

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ther currency payments. It was rumored, in Washington, on the 25th, that the President had been advised to call an extra session of Congress. A dispatch from St. Louis, of the 25th, says that the banks of that city had held a meeting on the evening of that day, and resolved to adopt the plan of issuing Clearing-House certificates. A Newark (N. J.) telegram of the 25th announced that the State Bank of New Brunswick had suspended. This is the bank that was crippled by the irregularities of Appleton, the Cashier. A dispatch from Nashville, Tenn., says that the National Banks of that city had suspended currency payments on all balances exceeding $200. A dispatch from Selma, Ala., of the 25th, says that the Savings Bank of Selma had suspended in consequence of an extraordinary run by depositors. All the banks of New Orleans partially susper led payment on the 25th, according to a dispatch from that city. The suspension was to remain in force for thirty days. Telegrams from various cities in Georgia, of the 25th, say the following banks had suspended: National Exchange, the Merchants' and Planters' National, the Planters' Loan and Savings Bank, of Augusta, Ga.; the Dollar Savings Bank, of Atlanta, Ga.; Savannah Bank and Trust Company, and the Southern Bank of Georgia. A Detroit dispatch of the 25th announces that the schooner W. J. Whaling had been beached at Grand Haven, Michigan, on the forenoon of that day. Vessel and cargo were a total loss. Two of the crew were drowned. A Wapello, Iowa, dispatch of the 25th says that on the afternoon of that day Professor

11. October 9, 1873 Iowa Voter Knoxville, IA

Article from Iowa Voter, October 9, 1873

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The South. A Memphis dispatch of the 25th says that the First National and De Soto banks, of that city, had closed their doors. A dispatch from Nashville, Tenn., says that the National Banks of that city had suspended currency payments on all balances exceeding $200. A dispatch from Selma, Ala., of the 25th, says the Savings Bank of Selma had suspended in consequence of an extraordinary run by depositors. All the banks of New Orleans partially suspended payment on the 25th, according to a dispatch from that city. The suspension was to remain in force for thirty days. Telegrams from various cities in Georgia, of the 25th, say the following banks had suspended: National Exchange, the Merchants' and Planters' National, the Planters' Loan and Savings Banks, of Augusta, Ga.; the Dollar Savings Bank, of Atlanta, Ga.; Savannah Bank and Trust Company, and the Southern Bank of Georgia. A dispatch from Shreveport, La., of the 25th, says the fever, which seemed to have abated on the preceding day, had broken out with renewed violence. The interments numbered twenty-two. A dispatch from Shreveport, La., of the 29th says that within the last four days several of the most prominent and useful citizens of that city had fallen victims to the epidemic. The dispatch adds: "The population has been fearfully thinned out by sickness and death. We no longer have funerals. The hearses, followed by one or two carriages, dash through the streets like a section of artillery in a battle seeking a position. A few men are drummed up, the coffins shoved into the hearse, and driven rapidly to the cemetery. This is the case even with the most prominent citizens. The Howards have opened an orphan asylum, and are feeding about two-thirds of the resident population. There are fewer deaths and new cases, because there are fewer people." A Jackson, Miss., dispatch of the 29th says Governor Powers, acting under the advice of Attorney-General Morris, had issued a proclamation postponing the State election. The Governor says that he will convene the Legislature in extraordinary session as soon as possible. The Pilot, the State organ, has pronounced the Governor's movement incendiary, and calculated to lead to revolution and anarchy. A dispatch from Marshall, Texas, of the 30th, says that the yellow fever had made its appearance in that place.