Article Text
BANK SUSPENSION.-The Commercial Bank of Chicago closed its doors Monday.
3760. Commercial Bank (Chicago, IL)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- state
- Start Date
- March 10, 1856
- Location
- Chicago, Illinois (41.850, -87.650)
Metadata
- Model
- gpt-5-mini
- Short Digest
80ce8d730db783f6
Response Measures
None
Description
Contemporary reports (Mar 1856) state the Commercial Bank of Chicago closed its doors (Worcester Daily Spy, 1856-03-12) and that it had suspended a few weeks ago (Ottawa Free Trader, 1856-03-22). Telegraph rumors about multiple bank failures circulated, but the articles do not report reopening or receivership; therefore classified as a suspension followed by closure (no evidence of reopening). 'Commercial Bank' type not specified in articles.
Events (1)
1.
March 10, 1856
Suspension
- Cause Details
- Article does not state specific cause for the suspension; contemporaneous telegraph rumors of wider bank panic mentioned, but suspension appears to have preceded the false alarm reports.
- Newspaper Excerpt
- BANK SUSPENSION.-The Commercial Bank of Chicago closed its doors Monday.
- Source
- newspapers
Newspaper Articles (2)
Click image to open full size in new tab
Click image to open full size in new tab
Article Text
FALSE ALARM.-It appears some unprincipled scoundrels have been making use of the telegraph wires to beat down some of our best Illinois banks, and then rob the community by buying up their paper at a shave. The following appears in the Belleville Tribune of the 15th inst. : BANKS FAILING.-The financial gamblers have succeeded in getting up a panic and a run upon some of the banks in and around Chicago. Those Shylocks always profit by these explosions, and the people are made the sufferers. By telegraph we learn that the Commercial Bank, and the Marine Bank, at Chicago, have closed their doors. The same announcement is made in regard to the Central Bank, at Peoria. The only foundation for all this is, that the Commercial Bank, of Chicago, suspended a few weeks ago; and that the "Marine Bank," which is one of the best banks in the state, has undertaken to redeem the paper of the Commercial Bank. In regard to the Central Bank, at Peoria, the report is a pure invention, and as malicious and wicked, we have no doubt, as it is false.