Bank of Shawneetown - Shawneetown, IL

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: April 19, 1844
Location: Shawneetown, Illinois (37.713, -88.187)

Metadata

Model: gpt-5-mini
Short Digest: ec1bc263

Response Measures

None

Description

Newspaper reports (St. Louis Organ, cited in NY Tribune 1844-04-20) said the Bank of Shawneetown 'had again suspended.' State commissioner Prickett denied a refusal to pay, stating the report was without foundation and that the bank was paying 20 per cent. and complying with the law in relation to the liquidation of her affairs. This indicates a suspension/partial payment in connection with liquidation, but the article stresses the bank was making payments (not an outright failure). No run is described and no permanent closure or receivership is reported in the article. I therefore classify as a suspension with the bank still operating/payments being made (suspension, later continued operations implied).

Events (1)

1. April 19, 1844 Suspension

Cause: Voluntary Liquidation
Cause Details: Article says bank was complying with the law in relation to the liquidation of her affairs and was paying 20%—indicating a voluntary liquidation/partial payment arrangement rather than a panic-driven suspension.
Newspaper Excerpt: It was stated in the St. Louis Organ that the Bank of Shawneetown had again suspended. Mr. Prickett ... states that the report of the refusal to pay is without the slightest foundation. The bank is paying 20 per cent. and complying with the law in relation to the liquidation of her affairs.
Source: newspapers

Newspaper Articles (1)

1. April 20, 1844 New-York Daily Tribune New York, NY

Article from New-York Daily Tribune, April 20, 1844

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Article Text

SECOND BOARD. 50 10 shrs Nor & Wor R 50 ehrs Farmers' Tr 630.40 -15.503 do 50 do 510.40 do 50 do 51 do 215 do 13.40 do 150 do do 50 do b15.40 100 do do nw.52 .50 do do 120.40 50 do do 50 do 50 do 53.40 do 50 do 501 50 do Victoburg B 75 do Nor and Wor Public Stock Exchange, April 19. 50 slirs Cantos Co cash. 10.93 $1,000 Ohio ties 60 -3.72 do L I-land Rrd 25 -15.93 1.000 do cash.72 do do 13,933 35 do 1,000 nw.73 50 do do 1,000 Pennsylvania 5s 30.06 $10.78 75 do do 1.000 Illinois 6es, 70. 530.40 201 50 do Harlem Rrd. b4m.74 do 1,000 53m.74 30 25 do do de 6,000 281. 100 de Ner a Wer R do 7,000 53.49 do do 25 $3.88% do 2,000 3.48 do do 25 25 shrs Farmers' Tr Tues 38% $30.483 do do 27 $3.38 75 do do baw.4 do do 50 14 25 do N. A. Trust cash.4 do 25 de 50 do Vicksburg B cash bnw. do 50 do cash do 25 do cash.4 do 25 do 25 do Canton Co cash. 41 It was stated in the St. Louis Organ that the Bank of Shawneetown had again suspended. Mr. Prickett. the commissioner on the part of the State, states that the report of the refusal to pay is without the slightest foundation. The bank is paying 20 per cent. and complying with the law in re lation to the liquidation of her inflain. The Bank of Circleville, according to the official report. had on the 30th March in coin. 481.468. Bank Notes $52,506. Speeie funds at the East 836,324. Loans, &cc. S404. 458. Circulation, $363,223. Deposites, $115,771. The injunction served upon the Mississippi Union Bank continues in operation. The case will be argued at the spring term of the Hinds Court. The assignees and their agents cannot in the mean time do any legal net in the name of the Bank. An amount of the notes of this Bank. reaching $189. 000, has been hypothecated by one of the assignees, Mr. Elliot, for $20,000. The Merchants' Insurance Co., Boston, which has just paid its usual semi-annual dividend of 10 per cent., has reserved profite to the amount of nearly two hundred thousand dollars: and its present capital of half a million was raised. from three hundred thousand to its present amount, from the same source. The Supreme Court of Ohio now in session, has decided that It man cannot be convicted for passing counter feit Foreign Voics under five dollars. because they cannot be legally received. consequence of this decision 1. that the Ohio Life and Trust Company refuses to receive foreign notes under five dollars. The other Institutions will probably do the same. Some capitalists in Cincinnati are making arrangements to erect an extensive Cotton Factory in that City.