5708. Bank of Gosport (Gosport, IN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 27, 1858
Location
Gosport, Indiana (39.351, -86.667)

Metadata

Model
gpt-5-mini
Short Digest
ffa9437a

Response Measures

None

Description

Articles (Jan–Feb 1858) report a 'shinplaster concern' called the Bank of Gosport that suspended after issuing about $700,000 in bogus notes which were used to buy pork. No run is described; the concern suspended and appears to have failed. Classified as a suspension leading to closure (bank-specific fraud).

Events (1)

1. January 27, 1858 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Shinplaster (fraudulent/illegitimate) issuance of $700,000 in notes; concern suspended when exposures emerged and notes were used to buy pork (fraud discovered).
Newspaper Excerpt
There is considerable excitement at Gosport, Indiana, caused by the successful operations of a shinplaster concern called the Bank of Gosport. The issues to the amount of $700,000 were used in buying pork when the concern suspended.
Source
newspapers

Newspaper Articles (2)

Article from New-York Daily Tribune, January 27, 1858

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Article Text

SUMMARY.-Receipts-Decrease at the ports compared with last year, 551,000 bales. Exports-Increase to Great Britain, 20,000; decrease to France, 25,000 : decrease to other foreign ports, 19,000. Total decrease in exports, 24,000 bales. There is considerable excitement at Gosport, Indiana, caused by the successful operations of a shinplaster concern called the Bank of Gosport. The issues to the amount of $700,000 were used in buying pork when the concern suspended. The Savannah Republican says: We heard a rumor yesterday to the effect that the Presidents of the various banks of this city had held a meeting, during the present week, at which they resolved to resume payment of specie at an early day, provided they can obtain the coöperation of the banks of Charleston and Augusta. From indications, we are inclined to believe that the statement is not without authority, and that the proposition will be formally made to the banks of our sister cities in the course of a few days. A decision has been rendered in the Superior Court of Cincinnati which virtually establishes the validity of the assignment of the Ohio Life and Trust Company. The action was brought by the assignees to replevin the office furniture of the Company, which was seized by the Sheriff to satisfy the judgment of certain creditors.


Article from Raftsman's Journal, February 3, 1858

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Article Text

CLIPPINGS AND SCRIBBLINGS. Rough-the roads. Cold-the weather. Ilard-the freezing. A Bass Viol-a small bottle filled with "doctor's stuff" Fact the prettiest lining for a bonnet is a smiling face Has an area-the Central Park, of N. York, of over 700 acres. Drove off-the settlers on Shawnee reservation, by the Indians. Seized-in New Orleans, 134 loaves of bread, for being short weight. Married-Bob Stodart, of the Tyrone Herald, to Miss Mary Miles. Hearts-little red things that men and women play with for money. Tanght-book-keoping, by Punch, in three words: Never lend them. Estimated-Tucker's defaleation to the Mineral Bank of Maryland, at $150,000. Should never be paid the "debt of nature," if it can't be collected without an execution. Hung himself-Capt. J. F. Cole, in his coll in Pittsburgh jail. He was confined for poisoning his wife. Circulating-a new and well executed counterfeit twenty doilar bill on the Southwark Bank. Look out for it. Stated by the Providence Post, that rot a single murder was committed in Rhode Island during the year 1857. Well matched-the couple married at Grand Views, Missouri. The lad was 19 years of age, and the maiden 78. Never too late. Will be in session-the Commissioners of Clearfield county, on the 22d and 23d days of February, for the transaction of business. Turned his son out of doors-a man in New York, because he would'nt pay his rent. A striking instance of pay-rent-al affection, that. Elected-Scott, Republican, to the Legislature, from Allegheny county, to fill the vacancy occasioned by by the death of J. B. Backhouse. Lost-the Atlantic Mills, by a forced sale of goods in New York at auction, the nice little sum of one hundred and eleven thousand dollars. A youth with a turn for figures, had five eggs to boil; being told to give them three minutes each, boiled them a quarter of an hour altogether. Query. If a spoonful of yeast will raise forty cents' worth of flour, how much will it take to raise funds enough to buy another barrel with? Receives-Parodi, the prima donna of Havanna, thirty thousand dollars per annum; a larger salary than that paid to the President of the United States. Was asked-Jack Bannister after his return from a visit to the sister kingdom, if he had been in Cork? He replied: "No, but I saw a great many drawings of it." Lucky-a German, in Albany. He lately came into the possession of $24,000, the bequest of his wife, who run away to California with another man some years ago. Contains-a late Dublin paper, the following advertisement: "To let; the upper part of a cellar, to a small family, rent low. P. S. Privilege on the sidewalk for a pig." Eing north again-the wild geese, a sure sign of an unusually mild weather; for however silly that bird may be, as a general thing, it is an excellent judge of the weather. Suggested by a London paper, that the celebrated Mr. Spurgeon be engaged to preach to the Leviathan, as he has had greater practice than any one of the present day in "moving masses." Testified-a witness in a liquor case, that "Sal soda is ice and water. and some stuff squirted into it from a concern. Don't know whether it is intoxicating or not. It makes one feel good-feet lift easier. Mild-the weather, in Florida. A letter dated the 8th ult., says: "It has been very warm all winter; peach trees are in full bloom, and all kinds of trees are out like May. People are very busy gardening. Caused-considerable excitement at Gosport, Indiana, by the successful operations of a shin-plaster concern, called the Bank of Gosport. The issues, to the amount of $700.000, were used in buying pork when the concern suspended. Continues-the weather in England, as remarkably mild as on this side. Vegetation, in some parts of the country, is in as forward a state as it usually is in April. There are gardens in the vicinity of the metropolis where summer roses are in fall bloom. At a discount-government paper-money. in New York, the banks positively refusing to receive it at par. Buchanan's "rag-mill" will require another turn of the crank, before its "shin-plasters" will be equal to Benton "mint-drops." Whar is your hard-money rag-mill, now. Has walked a medical man of forty years practice in Philadelphia, over 150,000 miles in that time How many of the present generation of effeminate doctors will ever accomplish this feat? This gentleman, at the ripe age of sixty-nine, is now as active as a boy of sixteen. Extensive-the business of a Sieaford functionary. His signboard says he is "Letter-carrier by appointment, altisonant town-erier, primary envoy, external paper-hanger, renovator of faded habiliments, hair abbreviator, ambrosia dealer, adroit horse-trimmer, general agent, &c. Given-the definition of "wild oats," as "a cereal crop that is generally sown between eighteen and twenty-five, the harvest generally sets in about ten years after. and is commonly found to consist of a broken constitution, two weak legs. a bad cough, and a trunk filled with small viais and medical prescriptions. The editor of the Ruthland Herald, just married to a Boston girl, says that a pair of sweet lips, a pressure or two of delicate hands, and a pink waist ribbon, will do as much to unhinge a man as three fevers, the measles, a large-sized whooping-cough; a pair of lock-jaws, several hydrophobias, and the doctor's bill. More "Chivalry."-A public meeting has recently been held at Mobile, at which a committee was appointed to inform Mrs. Strickland that she could no longer be permitted to live in that amiable city. Mrs. Strickland's crime is that she is the wife of a bookseller, who, two years ago. sold some copies of "Uncle Tom's Cabin," "and for so doing, was summarily banished from that city. STEAMBOAT DISASTER. A horrible accident