Bank of Albany - Albany, IN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: July 27, 1855
Location: Albany, Indiana (40.301, -85.242)

Metadata

Model: gpt-5-mini
Short Digest: 8c80779a

Response Measures

None

Description

Multiple 1855 notices from the Indiana Auditor list 'Orange Bank' among Free Banks whose circulation is to be returned for cancellation and placed in liquidation. This is a government-ordered suspension/liquidation (closure) rather than a depositor run; a 1856 article explicitly says notes were placed in liquidation.

Events (2)

1. July 27, 1855 Suspension

Cause: Government Action
Cause Details: Auditor of State notified holders to return circulating notes for cancellation as part of state action to determine outstanding circulation and declare a pro rata dividend (state-ordered suspension/liquidation).
Newspaper Excerpt: SUSPENDED INDIANA FREE BANKS...Orange Bank...to return the same to the Auditor's Office, Indianapolis, for cancellation, before the first day of October next
Source: newspapers

2. April 23, 1856 Receivership

Newspaper Excerpt: The Auditor of the State of Indiana gives notice that the notes of the following Free Banks have been placed in liquidation...Orange Bank...to have them at his office for redemption on or before the first day of October next: ... Orange Bank; ... placed in liquidation, and gives notice to the holders of the notes of said banks to have them at his office for redemption on or before the first day of October next: ... Orange Bank ... placed in liquidation
Source: newspapers

Newspaper Articles (3)

1. July 27, 1855 Indiana American Brookville, Indianapolis, IN

Article from Indiana American, July 27, 1855

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Article Text

SUSPENDED INDIANA FREE BANKS.The Auditor of State notifies those holding the circulating notes of the Traders' Bank of Nashville, Elkhart County Bank, Bank of Attica, Atlantic Bank, at Jackson, Orange Bank, Bank of Albany, State Stock Bank of Indiana, at Peru, Bank of Bridgeport, Bank of America, at Morocco, and the Public Stock Bank at Newport, to return the same to the Auditor's Office, Indianapolis, for cancellation, before the first day of October next, that the outstanding circulation may be determined as accurately HS possible, and a pro rata dividend thereon declared. Certificates for the amount returned will be issued, and the dividend on the respective banks paid upon the presentation of the certificate at that office, after the ffrst day of October next.

2. August 22, 1855 Grand River Times Eastmanville, Grand Haven, MI

Article from Grand River Times, August 22, 1855

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Article Text

SUSPENDED INDIANA FREE BANKS.-The Auditor of the State of Indiana notifies those holding the circulating notes of the Trader's Bank at Nashville, Elkhart County Bank, Bank of Attica, Atlantic Bank of Jackson, Orange Bank, Bank of Albany, State Stock Bank of Indiana, at Peru, Bank of Bridgeport, Bank of America, at Morocco, and the Public Scock Bank, at Newport, to return the same to the Auditor's office, Indianapolis, for cancellation, before the first day of October next, that.the outstanding circulation may be determined as accurately as possible, and a pro rata dividend thereon declared. Certificates for the amount returned will be issued, and the dividend on the respective banks paid upon the presentation of the certificate at that office after the first day of October.

3. April 23, 1856 The Daily Gate City Keokuk, IA

Article from The Daily Gate City, April 23, 1856

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Article Text

News of the Morning. ARRIVAL OF THE AFRICA.-The Africa arrived on the 19th. Peace Conference still sitting, considering minor details. Paris has been illuminated in honor of the peace, and the Orleanists and Legitimists took a part in the illumination. No news of importance from any quarter. Markets active. Iron in good demand. Provisions unchanged. The President and several members of the Cabinet visited Annapolis on the 18th.They were received by citizens in the Senate Chamber of the State House. Mr. Pierce replied in a happy manner. The next day, in company with the Governor and Secretary of State of Maryland, with other officials, they inspected the Naval Academy. Milton L. Latham was unanimously confirmed Collector of San Francisco on the 19th. The South Americans have carried the city of Augusta, Ga, at the charter election. SPECIAL Tax.-The City Council has ordered a vote to be taken on the 30th inst., to authorize the levying of a special tax. We are requested to state that this order was passed not because the Council has determined upon, or even contemplates, any unusual or extraordinary appropriations for any purpose, during the ensuing year. The object is to provide against contingencies. It may happen that the Council will need more means than are at present provided, and in such case the law makes it necessary that the election ordered should be held by the time specified. If the vote should be in the affirmative, the Council will then be clothed with the necessary power, and can then exercise its discretion. We observe that the Mayor's proclamation does not prescribe the form of the ballots. The Auditor of the State of Indiana gives notice that the notes of the following Free Banks have been placed in liquidation, and gives notice to the holders of the notes of said banks to have them at his office for redemption on or before the first day of Oetober next: Traders' Bank at Nashville: Elkhart Co. Bank: Bank of Connersville: Bank of Attica; State Stock Bank of Indiana at Peru; Wabash Valley Bank : Bank of America, at Morocco: Bank of Albany; Bank of Bridgeport; Laurel; Orange Bank Green County Bank; Atlantic Bank; Bank of T. Wadeworth; Traders' Bank at Terre Haute; Drovers' Bank at Rome: Farmers' Bank at Jasper; New York Stock Bank at Vincennes; Plymouth Bank. The Keokuk Post (Republican) comes to us with triumphant rejoicings over a great victory gained over the Democracy of that city, who insisted upon running a ticket at the municipal election, upon strict party grounds. The Independent or opposition ticket was elected by a strong majority.[Dubuque Republican. The Keokuk Post pretends to be independent, but is at least anti-Republican, whatever else it may be, and didn't rejeice very much over the election. The Times is the regular, and the Post is the irregular, Locofoce paper in this city. The Gate City is the only "Republican" journal.