Witmer Brothers - Suspension Bridge, NY

Episode Information

Episode UID: 4729879591016
Episode Type: Suspension → Closure
Bank Type: private
Bank ID: 472987959 hash
Start Date: August 4, 1884
Location: Suspension Bridge, New York (43.094, -79.017)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 994ca589151369e6

Response Measures

None

Events (2)

1. August 4, 1884 Receivership

Newspaper Excerpt: Frank Spalding, the assignee, believes that the liabilities will reach $200,000
Source: newspapers

2. August 4, 1884 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Failure caused by endorsements of paper which the bank had to pay, producing insolvency
Newspaper Excerpt: Jacob Witmer, of the firm of Witmer Brothers, bankers, who failed on Saturday
Source: newspapers

Newspaper Articles (1)

1. August 5, 1884 The Rock Island Argus Rock Island, IL

Article from The Rock Island Argus, August 5, 1884

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Article Text

Another Broken Bank. SUSPENSION BRIDGE, N. ¥., Aug. 4.-Jacob Witmer, of the firm of Witmer Brothers, bankers, who failed on Saturday, states that the deposits of the bank are $120,000 and he believes that it will pay all debts in full, eventually. Frank Spalding, the assignee, believes that the liabilities ill reach $200,000; assets unknown. The *firm turned over everything they had to the assignee. A large number of poor people had savings in the bank. The cause of the failure is supposed to be the endorsement of paper which the bank had to pay. It is believed they will eventually pay about 50 cents on the $1.

Episode Information

Metadata

Response Measures

Events (2)

Newspaper Articles (1)

Article Text

Bank runs are almost always and everywhere a deterioration of bank fundamentals.

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