2776. Planters Loan & Savings Bank (Augusta, GA)

Bank Information

Episode Type
Run → Suspension → Unsure
Bank Type
savings bank
Start Date
September 25, 1873
Location
Augusta, Georgia (33.471, -81.975)

Metadata

Model
gpt-5-mini
Short Digest
fd98ecc9

Response Measures

Full suspension

Description

Multiple contemporaneous newspaper dispatches (dated Sept 25, 1873) report heavy runs on Augusta banks and that the Planters' Loan and Savings Bank suspended on Sept 25 amid the wider financial panic (lack of currency, Treasury bond news). Articles state assets were ample and that the suspension resulted from the nationwide liquidity crisis; none of the provided pieces clearly reports a reopening of this specific bank, so I mark the outcome as unsure.

Events (2)
1. September 25, 1873 Run
Cause
Macro News
Cause Details
Heavy withdrawals driven by the national financial panic/credit contraction after Treasury/bond news and suspensions in New York; lack of currency to move cotton was cited locally.
Measures
No specific stabilizing measure at this bank reported in these dispatches (general clearing-house measures reported elsewhere).
Newspaper Excerpt
The run on the banks has been heavy, especially this morning.
Source
newspapers
2. September 25, 1873 Suspension
Cause
Macro News
Cause Details
Suspension followed heavy runs and inability to obtain currency/liquidity amid the national panic (Treasury decision on bond purchases and clearing-house restrictions).
Newspaper Excerpt
The National Exchange Bank, the Merchants and Planters' National Bank, and the Planters' Loan and Savings Bank have suspended.
Source
newspapers

Newspaper Articles (10)
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 Register Wheeling, WV
Article from The Wheeling Daily Register, September 26, 1873

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FINANCIAL Reports From Various Cities NEW YORK, September 25.-Stocks for sale at auction to-day withdrawn. The advertised have been that Express the / says that the announcement Government has stopped buying bonds caused deep disappointment to-day. No little indignation was expressed net agai Secretary Richardson for cur- his decision. Yesterday reports were that the Government stop and we were officiale-to rent buying, denounce ordered would by the the remalicious. The of England's rate to Treasury port Bank as advance four shipments peree in the is & natural result of the This morning gold opened owing to the of rate, but gold. Bank 111 England advance afterwards in rallied the declined to 111g, and still later 111 When it was announced from 1874 Washington that the bonds of would not be anticipated by the Treas ury the rates paid for carrying ranged from five to six per cent. The crowd in Broad street shows a material decrease, and few transaction stocks have been consummated. in Prices are marked up and down, and according to the view of the parties, fair quotations can be ascertained. The no prices current are nearly as possi- 29: these New York Central, 19 to 19 C. ble C. & 21; Union Pacific, and to Lake Shore, 75: Ohio 20 (ississippi, 22 to 33; Pacific Mail, Rock to 30; Northwestern, 39 to 41; Island, 85. A Washington dispatch says that Secre Richardson has stated tarv would be good policy for all banks farther currency payments bee that the suspend is rumored President has of Couadvised to call an extra session b gress. PHILADELPHIA, September 25.- mer hopeful feeling exists among chants, more and the prices of goods continue All steady. Third street is quiet. the very National Banks, Savings Banks Banks, as and such other of the State business in did not enspend continue Board of usual manner. The that the have adopted a resolution checks Brokers otherwise ordered, certified until the associated bills on any of or due will be received in settlement the banks contracts between members of Board. NEW ORLEANS, September 25 -At this morning of all the it Bank was meeting Presidents in the city except two, than no checks for more decided hundred to pay dollars. All larger checks one to be certified. This arrangement action are is continue thirty days. This they to consider precautionary to prevent drain. The Produce Exchange to-day sdopted the following resolutions of WHEREAS, The critical condition commercial interests of the coun- rethe requires immediate relief by the fortry moval of the block in negotiating eign exchanges, therefore Resolved That we respectfully Treasury eugthe Secretary of the this exgest the following plans for relief in that c traordinary emergency First, to banks be immediately issued evidence rency bankers upon satisfactory deor has been placed in special that gold in the Bank of England to credit their correspondents posit in London to the solely the United States, to be bills used of exof in purchasing commercial President of the and that the of the change, States and the Secretary order the United United States Treasury are immediate respectfully prerequested of to the outstanding loan of the payment States, due January 7, 1874. United The steamship Cambria brought $32,500 in gold. Na. September 25.-The AUGUSTA, Exchange Bank, the Merchants Augustional Plantere National Bank of t and the Planters' Loan and Savings 13, and have suspended. The runs the Banks banks have been heavy, especially this morning. CHICAGO, September 25.-The Clear House Association held an import the ing meeting last night to consider ant situation. After an animated one financial which lasted till nearly offerdiscussion, the following resolution, of the o'clock, by Mr. Coolbaugh, President adopted ed Union National Bank, was Clearing Resolved by the Chicago of ChiAssociation of the city of disturbed cago. House view That of the until further other condition action, cities, and in New York and balan affairs difficulty in converting advice of and the currency, and on the be into Bank Examiner, its members suspend reccomended the and authorized to decurrency payments on any large country mands upon them, either from over their counters. banks number or of bankers opposed Chicago such a A claiming that the condition, a course, being in 3 sound banks paying, and thus sid gener* finalal could business go on The resolution was ly adopted unanimously CINCINNATI, Sept. The Cincinnati the Clearing House has just adopted fol lowing That for the protection of interests, Resolved, commercial resolution and for cur- the our of preventing a demand bankers of purpose the banks and do hereby agree rency city, from we in to adopt New this the plan adopted out n e viz: They will not pay with the on checks except for upon eubetantially rency York, optional banks small certify sume, curto be drawn but they will whom drawn on balances Clearing in their checks hands, pavable through the r only. n 8 House market for everything this action morn* of The entirely nominal. The effort t the ing is banks this morning in their

3. September 26, 1873 Nashville Union and American Nashville, TN
Article from Nashville Union and American, September 26, 1873

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Let and compel currency to seek this market." Clearing House certificates at the rate of 75 cents on the dollar will be issued on col latterals deposited by the banks, and certifled checks or Clearing House certificates will be used instead of currency. Indianapolis Unappalled. INDIANAPOLIS, Sept. 25 Considerable excitement was caused here this morning by the announcement of the precautionary measures adopted by the Chicago and Cincinnati banks, which were at first reported as having totally suspended, and this excitement heightened at noon by the suspension of the private banking house of Wallen, Webb & Co., owing mainly to the return ot their drafts on the suspended Trust Company of New York, and public confidence a became so shaken that there was quite heavy run on Ritzinger's Bank and on the of Indianapolis Savings banks by a class generally small depositors, and some few persons withdrew their money from other banks. The First National 1Bank instead of closing at the usual hour kept open an hour later to give any depositor an opportunity to withdraw his money if he wished, and when it closed it had received more money than it had paid out The unquestionable solvency of all our banks, together with the fearless way in which they met the excitement seems to have sent home the crowds who thronged the streets until after the banks had closed, in better state of feeling anditisnotnow anticapted there will be any further trouble. The banks previous to the excitement had after a conference together, decided to go abead in the usual way, and this determination will still be followed Washington Washing WASHINGTON, Sept. 25 The it ton City Savings Bank announces that wiii require sixty days' notice for payments of depositors, in accordance with a provision in its charter. Several bankers of this city called on Secretary Richardson to-day for the pur pose of obtaining currency to meet their demands, bat though bonds were offered here, of no purchases were made. The employes the several departments are being paid off at the request of Gov. Shepherd, for the purpose of leasing the market in this district. Richmond Simmers Down. RICHMOND, VA., Sept. 25.-The panic has subsided, ended, and there is no visible excitement on the sreets. The bank officers. to this morning, unanimous resolved adopt the system of issuing loan certificates &S now in operation in New York, Philadelphia and Baltimore, so as to give relief to the community The reported failure of McElvain & Co., Petersburg, is scontradicted South Carolina- Cotton Immovable CHARLESTON, Sept. 24.-Money is so stringent here that no obligations are contracted, and all business is limited in amount. There is some demand for cotton at low figures, but the difficulty in negoti ating exchange stops sales, and relief from that source is slow in coming. Factors would at moment accept the low rates for most articles of produce. Paper falling due is renewed in full, or with small payment on account, and creditors are disposed to be indulgent. No failures have been reported The banks pay checks as usual, and there has not been the first symptoms of a run. Savannah. SAVANNAH, Sept. 25 A run commenced early this morning on the Savings Department of the Savannah Bank and Trust Company of the Southern Bank of Georgia. Large crowds are congregated The banks are paying dollar for dollar. Business is a a complete standstill for want of currency. The run on 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. Others are proceeding as usual, and all excitement is diminish ing. A meeting of the Chamber of Commerce to cosider the state of affairs is called for this evening. Augusta. AUGUSTA, Sept. 25 The National Ex. change Bank, Merchants & Planters' Na tional Bank, of Augusts, 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. Business here is blocked. Cotton market suspended operations, aud there is no currency to buy cotton. The First Nation al Bank paid out as usual. Suspended banks have ample assets and will meet their liabilities when the pressure lightens up There have been no suspensions among business men. At large meeting which the merchants held at the Exchange rooms, committee was appointed to wait upon the Directors of the Georgia Railroad and Banking Company and other banks, and request them to issue some medium ot exchange to bridge over the present crisis. The banking house of Coohens & Sons suspended. Assets are ample. No market for best securities even at sacrifice. Selma. SELMA, ALA., Sept. .-Savings bank suspended to-day. Assets believed to be ample to pay all its debts and liabilities, and to save the capital stock. Atlanta. ATLANTA, GA., Sept., The Dollar Savings Bank of this city, suspended to day. Ample securities. Memphis MEMPHIS, Sept. The great excitement in this city on account of the suspenre. sion of the banks caused by inability to alize on securities in New York. The fol lowing named banks have closed to day: is First National Bank, DeSoto Bank and it reported the Freedmen's Savings Bank and Trust Company, with a heavy run on the others. It is expected that all will reopen after the panic subsides. The excitement at present is intense. The panic in New York and consequent failure of some banks to respond to the ca of for currency, occasioned the suspension the First National Bank of this city this morning, which was followed by a run on all banks, and led to the suspension of the DeSoto within an hour. The run contin ued several hours. It is rum ored to-night that one or two of the smaller banks are in deep water, and that other failures will occur to-morrow. The suspensions were seemingly from want of currency, and both concerns claim assets largely in excess of liabilities. The collections and general business of the two banks were turned over to the State National Bank, which suffered no run and is believed to have been solvent. The run on the Union and Planters' ceased at M., after which hour it received deposits of nearly two-thirds of the sum drawn out. New Haven. NEW HAVEN, CONN., Sept. 25.-The managers of the Savings banks of this city have voted at prudent to require notice of

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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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.

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

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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.

7. 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.

8. 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.

9. 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.

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