Article Text
BANK SUSPENSION.-The Commercial Bank of Chicago closed its doors Monday.
Commercial Bank (Chicago, IL)
Episode Information
- Episode UID
5332113490675- Episode Type
- Suspension → Closure
- Bank Type
- state
- Bank ID
-
533211349hash - Start Date
- March 10, 1856
- Location
- Chicago, Illinois (41.850, -87.650)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
5f4959be79caf7d2
Response Measures
None
Description
Articles state the bank 'closed its doors' and reference suspensions amid telegraph-spread alarms; reopening not reported.
Events (1)
1.
March 10, 1856
Suspension
- Cause
- Rumor Or Misinformation
- Cause Details
- False telegraph alarms and malicious reports provoked runs and announcements that led to suspension.
- Newspaper Excerpt
- BANK SUSPENSION.-The Commercial Bank of Chicago closed its doors Monday.
- Source
- newspapers
Newspaper Articles (2)
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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.