Stout & Company (New York, NY)

Episode Information

Episode UID
3170921391015
Episode Type
Suspension → Closure
Bank Type
broker
Bank ID
317092139 hash
Start Date
July 3, 1884
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
328dd857c26594ab

Response Measures

None

Description

Articles report suspension of payment but give no follow-up on reopening or receivership.

Events (1)
1. July 3, 1884 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Large exposure to the Metropolitan Elevated Road and losses amid a depression in railway bonds and shares.
Newspaper Excerpt
Stout & Co., bankers, of New York, suspended payment, with liabilities estimated at $1,000,000.
Source
newspapers

Newspaper Articles (3)
1. July 2, 1884 Savannah Morning News Savannah, GA
Article from Savannah Morning News, July 2, 1884

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Article Text

About 80 per cent, were those of small traders whose capital was less than $5,000. Among those whose suspensions were reported were M. Morgan's Sons, bankers, Stout & Co., bankers and brokers, and George Staber & Co., cotton exporters, New York city; C.J. Kershaw & Co., grain, Chicago and Milwaukee; Brown & Van Arsdale Manufacturing Company, Chicago; R. T. & C. B. Hargrove, bankers, Rome, Ga. In the principal trades they were as follows: Grocers, 21; general stores, 21; shoes, 12; liquors, 11; manufacturers, 8; clothing, 7; hardware and agricultural implements, 7; bankers, 5; dry goods, 5; lumber, 5; jewelry, 5: paper, books, stationery, etc., 5; produce and provisions, 5; drugs, 4; fancy goods, 4; grain and millers, 4; carriages, 3; furniture, 3; butchers, 3; tobacco and cigars, 3; carpenters and builders, 2; cotton, 2; hats, 2; men's furnishing goods, 2. ALABAMA. Fordyce.-Irwin & Bro., general store, reported failed. Mobile.-Gardner & Gates, cotton commission, assigned. Liabilities $165,000; assets $230,000. GEORGIA. Atlanta.-D. C. Pitchford, picture frames, asks an extension. Herman Rich, grocer. assigned. Lathrop & White, carpets, obtained an extension. Rome.-R. T. & C. B. Hargrove, bankers, failed June 25. caused, it is said, by the stringency in the money market. The liabilities are reported at $60,000; nominal assets $75,000. The bank was the city depository, but it is said the city was amply secured. Sarannah.-L. G. Schwarzbaum, notions, mortgage foreclosed. W. H. Snyder, plumber, closed by Sheriff. SOUTH CAROLINA. Columbia.-Thomas E. Brannigan, liquors. closed by Sheriff. Liabilities $7,000; nominal assets $3,000; chattel mortgages $3,500. TENNESSEE. Decatur.-Raines, Parker & Yarborough, general store. failed. Lebanon.-M. T. Rowland & Co., grocers, deed of trust. Liabilities $2.375. Memphis.-L. Podesta & Co., wholesale liquors, sold out. Nashville.-Edward Willard, grocer, assigned. Liabilities $994; assets $1,200. Winchester.-A. L. Plumlee, general store, assigned. Liabilities $1,300; assets $800.

2. July 3, 1884 The Iowa Plain Dealer Cresco, New Oregon, IA
Article from The Iowa Plain Dealer, July 3, 1884

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Article Text

NEWS CONDENSED. Concise Record of the Week. EASTERN. A dispatch received at Boston by the American Board of Commissioners of Foreign Missions, dated Hong Kong, announces the total loss of the missionary brig Morning Star at Kusail. The crew and passengers were saved. Owing to depression in the railway bond and share market, Matthew Morgan's Sons, bankers. New York. suspended. The liabilities are said to be about $1,000,000. Stout & Co., bankers, of New York, suspended payment, with liabilities estimated at $1,000,000. They were largely interested in the Metropolitan Elevated Road. In a race of three and a half miles at New London, the Yale crew defeated the Harvards by three lengths. At Taylorsville, Penn., Miss Thompson entered her father's drug store, weighed out a grain and a half of strychnine, and calmly swallowed it. Antidotes were administered without effect.

3. July 3, 1884 The True Northerner Paw Paw, MI
Article from The True Northerner, July 3, 1884

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Article Text

NEWS CONDENSED. Concise Record of the Week. EASTERN. Judge Drummond has resigned his position as United States Judge for the Chicago circuit. Judge Drummond is now in his 75th year. He has been United States Judge since 1850. All the coal mines in the Hocking Valley and Shawnee district are idle, the 5,000 employes having struck against the 10 cents per ton reduction. No trouble is reported. A dispatch received at Boston by the American Board of Commissioners of Foreign Missions, dated Hong Kong, announces the total loss of the missionary brig Morning Star at Kusail. The crew and passengers were saved. Owing to depression in the railway bond and share market, Matthew Morgan's Sons, bankers. New York, suspended. The liabilities are said to be about $1,000,000. Stout & Co., bankers, of New York, suspended payment, with liabilities estimated at $1,000,000. They were largely interested in the Metropolitan Elevated Road. In a race of three and a half miles at New London, the Yale crew defeated the Harvards by three lengths. At Taylorsville, Penn., Miss Thompson entered her father's drug store, weighed out a grain and a half of strychnine, and calmly swallowed it. Antidotes were administered without effect.