5206. Indian Reserve Bank (Kokomo, IN)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
February 8, 1855
Location
Kokomo, Indiana (40.486, -86.134)

Metadata

Model
gpt-5-mini
Short Digest
d583e08981514c44

Response Measures

None

Description

Two contemporary notices (Feb 8 and Feb 10, 1855) state the Indian Reserve Bank at Kokomo applied to the Indiana Free Bank Association and the committee was assured that, from this day forward, they will pay... and at an early day resume and continue specie payments. The notices direct agents not to treat or cancel their notes as suspended banks. There is no mention of a depositor run; the text implies the bank had been regarded as suspended but was arranging to resume specie payments. Dates are taken from the newspapers. OCR corrected minor spacing/typos in names (e.g., Howe).

Events (2)
1. February 8, 1855 Reopening
Newspaper Excerpt
they... will pay, at their counters, for their issues, the notes of specie paying banks, and, at an early day, resume and continue specie payments, we have directed our Agents not to receive or cancel any of the notes of either of them as suspended banks.
Source
newspapers
2. February 8, 1855 Suspension
Cause Details
Article implies the bank had been treated as suspended (its notes not being received/cancelled) but gives no explicit reason for suspension.
Newspaper Excerpt
we have directed our Agents not to receive or cancel any of the notes of either of them as snspended banks.
Source
newspapers

Newspaper Articles (2)
1. February 8, 1855 Plymouth Banner Plymouth, IN
Article from Plymouth Banner, February 8, 1855

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Article Text

A Card-Indiana Free Bank Association. A meeting of the executive Committee of the Free Bankers' association was Leld today; present. Harris, Howe and DePauw. The report and application of the Bank of North America at Clinton, was received and laid over until Thursday evening. The Bank of Huntington County, at Huntington having made applicationand complying with the rules of the association, is admitted and placed in the list of specie paying banks. The Bank of Tippecanoe at Winnemac. and Indian Reserve Bank at Kokomo, having by Judge Wright, applied for admission. they being home banks, owned by responsible parties, and the committee being assured that, from this day forward, they will pay, at their counters. for their issues, the notes of specie paying banks. and at an early day re sume and continue specie payments, We have directed our Agents not to receive or cancel any of the notes of either o! them as snspended banks. W. C. DEPAUW, J. B. HOWE, Ex Com. T. G. HARRIS,

2. February 10, 1855 Weekly Indiana State Sentinel Indianapolis, IN
Article from Weekly Indiana State Sentinel, February 10, 1855

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Article Text

COMMERCIAL. A CARD. Indiana Free Bank Association. Indianapolis, IND., Jan. 15. A meeting of the Executive Committee of the Free Bankers' Associa ion was held to-day ; present, Harris, How and DePauw. the report and application of the Bank of North America at Clinton, was received and laid over until Thursday evening The Bank of Huntington County, at Huntington, having made application and complying with the rules of the Association, is admitted and placed in the list of specie paying banks. The Bank of Tippecanoe, at Winnemac, and Indian Reserve Bank, at Kokomo, having, by Judge Wright, applied for admission, they being home banks, owned b, solvent and responsible parties, and the committee being assured that, from this day forward, they will pay, at their counters, for their issues, the notes of specie paying banks, and, at an early day, resume and continue specie payments, we have directed our Agents not to receive or cancel any of the notes of either of them as suspended banks. W. C. DEPAUW, Ex. Com. J. B. HOWE, T. G. HARRIS,