First National Bank - Concord, NH

Episode Information

Episode UID: 31801124
Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 3180 national
Charter Number: 318
Start Date: August 2, 1893
Location: Concord, New Hampshire (43.208, -71.538)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 9c964b9d200bacd9

Response Measures

None

Description

Article describes a meeting of state savings banks in Concord voting to require notice before paying depositors; First National not named.

Events (2)

1. March 15, 1864 Chartered

Source: historical_nic

2. August 2, 1893 Suspension

Cause: Macro News
Cause Details: Banks adopting notice requirement due to inability to obtain currency and wider financial disturbances during the 1893 panic.
Newspaper Excerpt: Concord, N. H., August 2.-At a meeting of the officers of all savings banks in the state here yesterday, it was voted to require notice before paying depositors.
Source: newspapers

Newspaper Articles (1)

1. August 3, 1893 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, August 3, 1893

Click image to open full size in new tab

Article Text

A New York Opinion. New York, August 2.-Henry Clews is few men who are cheerful in in Wall street: one these of days the "In stage 1873 the of banks at the worst the only had $5,000,000 of currency New panic Yorks them," "They had among said he. no goid of their own, all the gold held by them being on special deposit and not it commanded a premium, hence was in circulation as money. At the present time the New York banks hold in currency and gold together $91,000,000 be$86,000,000 better off in actual money in ing vaults than during the panic of thus showing the strong 1873, their time. position On held by them at the present I do not hesitate to say that of New York, the this banks showing combined Clearing together as they are through the House Association, occupy the position to of a fortress and are pefectly able meet any and all emergencies. No Excitement in New York. New York, August 2.-Business at the savings banks was going on as usual De- today. The excitement is all over. positors feel assured that their money is perfectly safe. Harttord Banks Require Notice. Hartford, August - The four savings will banks in Hartford, beginning today require a notice of 90 days to withdraw deposits. The reson alleged is inability to obtain currency to pay depositors. Gold Movements. London, Aug, 2.-Seven hundred and thousand pounds in eagles the Bank of were forty-one sold by England yester- taken day, and 190,000 sovereigns were the United States. In to a quarter of a out this for nearly outside addition million sterling was bought in the market for America. On the other hand, amounts of gold are on the way Australia and here large from elsewhere. the with- The market consequently regards for America with equanimity. was a general recovery There drawals American in the stock market yesterday, led by railroad shares, which improve materially on the gold exports. The same cause depressed consols. Steamer Spree, which sailed today from Southampton for New York, has on board $5,500,000 consigned to American houses. Steamer Majestic which left Liverpool today took $1,750,000. A further shipment will be made Saturday. There was $3,495,000 withdrawn be from the Bank of England today to sent to the United States. Heavy shipments today and prospecshipments on Saturday have caused to the tive discount rate on the open market rise to 3 3-8 to 31 per cent. At New York. New York, August 2.-Heidelbach, Ickelheimer & Co., are advised of another shipment of $250,000 in gold per steamship Spree, making a total for and Lazard Freres $1,000,000 in them have secured of $2,620,000, gold leaving to be shipped on a German steamer Southampton, Friday. Curious Condition in Fall River. " River, August 2.-The mill situFall has reached the strangest condition ation known in the history of the local cotton ever industry. This morning several notices treasurers]of the mills received from their banks stating substantially banks hereafter would honor no in but will as to take care of far checks that as the possible money, endeavor this deposits action already made. The effect of for will be widespread and may call the total suspension of operations on part of the mills. The treasurers who are receiving checks daily from Boston, New York and Philadelphia will find them of no value in procuring currency to pay wages. Some of the mills that received notice will be able to pay their help this week, but they now see no prospect for paying next week. Some treasurers say they will ask their to work along until such time as the help banks can procure small bills and change enough to meet the wants of the weekly pay rolls. Others say they see out of the difficulty except a no shut way down and violation of their contracts. Will Make Use of the Time Clause. Concord, N. H., August 2.-At banks a meet- of of the officers of all savings voted to the ing state here yesterday, it was depositors. require notice before paying Fifty Stone Cutters Discharged. [Special to the Press.] Haven, Augusta 2.-The Bodwell quite Vinal gave their men a Granite Company westerday by discharging about