Orange Bank (Poseyville, IN)

Episode Information

Episode UID
3752785190661
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
375278519 hash
Start Date
January 11, 1855
Location
Poseyville, Indiana (38.170, -87.783)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d439c5c1190942a8

Response Measures

None

Description

Bank listed among 'have no place of doing business' and included in auction of 'Indiana suspended banks' by state auditor.

Events (2)
1. January 11, 1855 Suspension
Cause
Government Action
Cause Details
Listed as a suspended/free bank that did not redeem its notes and later had state-auctioned assets handled by the Indiana auditor.
Newspaper Excerpt
Orange Bank, Poseyville; ... which do not redeem their paper in coin, currency or exchange.
Source
newspapers
2. June 28, 1855 Other
Newspaper Excerpt
Orange Bank, Poseyville: 1,000 State of Indiana 5 per cent stock (sale by order of the Hon. H. E. Talbott, Auditor of the State of Indiana for account of Indiana Suspended Banks).
Source
newspapers

Newspaper Articles (4)
1. January 11, 1855 The Daily Minnesota Pioneer Saint Paul, MN
Article from The Daily Minnesota Pioneer, January 11, 1855

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Article Text

From the Crawfordsville Review. The Free Banks of Indiana. The following list of Free Banks of Indiana were reported in the recent Convention at Indianapolis, as specie paying banks: Hoosier Bank, Logansport; Prairie City Bank; Indiana Stock Bank, Laporte; Gramercy Bank; Western Bank, Plymouth; Canal Bank, Evansville; Fayette County Bank; Lagrange Bank; Bank of Indiana, Michigan City; Bank of Syracuse; Cambridge City Bank; Bank of Rockville; Salem Bank; Bank of Monticello; Crescent City Bank; Central Bank, Indianapolis, Indiana Bank, Madison; Bank of Goshen; Bank of Salem; Farmer's Bank of Westfield; Keutucky Stock Bank; Kalamazoo Bank; Bank of Warsaw; Bank of Mount Vernon; Bank of Paoli; Bank of Elkhart; Merch. and Mechanic's Bank, N. Albany. Bank of the Capitol; Trader's Bank, Indianapolis; N. Y. & Virginia Steck Bank, Evansville; Farm's & Mech's Bank, Indianapolis. The following resolution among others was adopted: Resolved, That we will receive and pay out the notes of the banks represented in this Convention as specie paying banks in all business transactions, and that we will in no case treat as par funds, the issues of any suspended bank whatever. The above list comprises all the banks covered by the foregoing resolution. It is thought that twenty or thirty more banks will acquiesce in the arrangements in a :week or two. Here is a list of those which the Indianapolis Journal says "have no place of doing business,-no owners in fact that anybody can find,-and don't redeem their paper in coin, currency, or exchange." Bank of America, Morocco; Bank of Connersville, Connersville: Drover's Bank, Rome; Elkhart county Bank, Goshen; Merchant's Bank, Lafayette; Orange Bank, Poseyville; Merchant's Bank, Springfield; Northern Indiana Bank, Logansport; Plymouth Bank, Plymouth: State Stock Bank, Logansport; " Peru; Trader's Bank, Terre Hante.

2. January 18, 1855 True American Steubenville, OH
Article from True American, January 18, 1855

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Article Text

FREE BANKS OF INDIANA.-At a convention of thirty of the specie paying free Banks of Indiana, held at Indianopolis, lately, the following resolution, among others, was adopted: Resolved, That we will receive and pay out the notes of the banks represented in this Convention, as specie paying banks in all business transactions, and that we will in no case treat as par funds the issues of any suspended bank whatever. The Indianopolis Journal gives a list of the following shaving shops which have no place of doing business, no owners that any body can find, and which do not redeem their paper in coin, currency or exchange: Bank of America, Morocco; Bank of Connersville, Connersville; Drover's Bank, Rome; Elkhart Co. Bank, Goshen; Merchant's Bank, Lafayette; Orange Bank, Poseyville; Merchants' Bank, Springfield; Northern Indiana Bank, Logansport; Plymouth; State Stock Bank, Logansport; State Stock Bank, Peru; Traders' Bank, Terre Haute.

3. June 26, 1855 The New York Herald New York, NY
Article from The New York Herald, June 26, 1855

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Article Text

W. latham, AUCTI ONEER-SPECIAL SALE.By order of Hon. H. E. Talbott. Auditor of the R. State of Indiana. for account of Indiana suspended banks. J. THOMPSON'S stock auction sales. On Thursday, June 28, at the Merchants' Exchange, at 12½ o'clock, For account of the Bank of Attica, Indiana:$21,000 Indiana State 2½ per cent stock. " " 5 per cent stock. 8,000 Atlantic Bank, Jackson:6,000 Indiana State 2½ per cent stock. Orange Bank, Poseyville1,000 State of Indiana 6 per cent stock. Bank of Albany, New Albany:7,000 Indiana State 5 per cent stock. State Stock Bank at Peru:25,300 Indiana State 5 per cent stock. Bank of Bridgeport:2,000 Indiana State 5 per cent stock. Bank of America, Morocco:6,500 Indiana State 5 per cent stock. Public Stock Bank, Newport:7,000 Indiana State 5 per cent stock. Elkart County Bank:40,000 Indiana State 2½ per cent stock. 5,000 Louisiana State 6 per cent Bonds, int. from 1st June, 1855. 2,000 Louisiana State 6 per cent Bonds, int. from 1st April, 1855. 500 Virginia State 6 per cent Bonds, int. from 1st April, 1856. Traders' Bank, Nashville:16,500 Indiana State 5 per cent stock. Per Individual Order:7,000 Great Western R. R. Co. (Illinois) 7 per cent mortgage and convertable bonds. Int Feb. and Aug. in N. Y.; due 1865. 10,000 Memphis City (Tennessee) 6 per cent Bonds. Interest Jan. and July in N. Y.; due 1884. All purchases must be paid for on or before 1 o'clock of the day after the sale. When purchases are made for account of parties out of the city, 10 per cent will be required on the day of sale, and six days' grace given (addirg interest) on the balance. The accrued interest will go to the purchaser (the same as at the Board of Brokers), except the Indiana State stocks, which are sold interest off. Office No. 2 Wall street. JOHN THOMPSON.

4. June 28, 1855 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, June 28, 1855

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Article Text

R. W. LATHAM, Auctioneer. PECIAL SALE-By order of the Hon. H. E. Talbott, Auditor of the State of Indiana for account of Indiana Suspended Banks.-J. THOMPSON'S STOCK AUCTION SALES-On THURSDAY, June 28, at the Merchants' Exchange, at 12} o'clock. For account of the Bank of Attica, Ind.: $21,000 Indiana State 21 per cent Stock. 8,000 Indiana State 5 per cent Stock. Atlantic Bank, Jackson: 6,000 Indiana State 21 per cent Stock. Orange Bank, Poseyville: 1,000 State of Indiana 5 per cent Stock. Bank of Albany. New-Albany; 7,000 Indiana State 5 per cent Stock. State Stock Bank at Peru: 25,300 Indiana State 5 per cent Stock, Bank of Bridgeport: 2,000 Indiana State 5 per cent Stock. Bank of America, Morocco: 6,500 Indiana State 5 per cent Stock. Public Stock Bank, Newport: 7,000 Indiana State 5 per cent Stock. Elkart County Bank: 40,000 Indiana State 21, per cent Stock. 5,000 Louisiana State 6 per et. Bds., int. from 1st June, 1855. 2,000 Louisiana State 6 per ct. Bds, int. from 1st April, 1855. 500 Virginia State 6 per et. Bds., int. Traders' Bank, Nashville: 16,500 Indiana State 5 per cent Stock. Per Individual Order: 7,000 Great Western Railroad Company (Illinois) 7 per cent Mortgage and Cenvertible Bonds. Int. February and August in New-York, due 1865. 10,000 Memp) is City (Tennessee) 6 per cent Bonds. Interest January and July in New-York. Due 1884. All purchases must be paid for on or before 1 o'clock of the day after the sale. When purchases are made for account of parties out of the city 10 per cent will be required on the day of sale, and six days' grace given (adding Interest) on the balance. The Accrued Interest will go to the purchaser, (the same as at the Board of Brokers,) except the Indiana State Stocks, which are sold interest off. JOHN THOMPSON. Office No. 2 Wall-st.