5800. Bank of the Capitol (Indianapolis, IN)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: January 23, 1857
Location: Indianapolis, Indiana (39.768, -86.158)

Metadata

Model: gpt-5-mini
Short Digest: 38574e57

Response Measures

Full suspension, Books examined

Other: Proprietor John Woolley reported failed; later a receiver was appointed (John C. New) and assignment set aside by court; bank appears permanently closed.

Description

Contemporary articles (Jan 1857) report runs/distrust of the Bank of the Capitol amid failures of other 'free banks.' By September 1857 the bank is reported suspended/its proprietor John Woolley failed (Woolley failed on Sept 14, 1857). In July 1858 a receiver (John C. New) is mentioned in court action — indicating the bank did not resume normal operations and was wound up. Classified as state/free bank (secured by state stocks).

Events (3)

1. January 23, 1857 Run

Cause: Local Banks
Cause Details: Panic and loss of confidence triggered by failures of other Indiana free banks (Gramercy, Shawnee) and brokers throwing out free-bank notes; Bank of the Capitol received with distrust.
Newspaper Excerpt: The Cincinnati bankers and brokers are making a run on the Central Bank and Bank of the Capitol, at Indianapolis.
Source: newspapers

2. September 14, 1857 Suspension

Cause: Macro News
Cause Details: Failure/suspension occurred amid the broader financial crisis of 1857 and widespread bank suspensions and failures; the bank had small circulation secured by state stocks and was winding up.
Newspaper Excerpt: In addition to the suspension of the Bank of the Capitol at Indianapolis, noticed yesterday... John Woolley, proprietor of the Bank of the Capitol, Indianapolis, Ind., failed on the 14th inst.
Source: newspapers

3. July 9, 1858 Receivership

Newspaper Excerpt: John C. New was appointed receiver, but refuses to act, and, as ordered by the court... the assets ... will be delivered to the further order of the Court. (Circuit Court set aside the assignment in the case of the Bank of the Capitol). (Indianapolis Journal). (reported July 9, 1858). }
Source: newspapers

Newspaper Articles (18)

1. January 23, 1857 Indiana American Brookville, Indianapolis, IN

Article from Indiana American, January 23, 1857

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Another Bank Panic! The failure of the Gramercy Bank, Lafayette, and the Shawnee Bank, Attica, under circumstances that reveal fraud, on the part of their owners, if not also corruption on the part of the Auditor of State, has caused another panic in regard to the Free Banks of Indiana and Illinois. No wonder. If these, which sustained the shock of two years ago, go down, what confidence can the public put in any of them? Alluding to the panic in Cincinnati, the Gazette of Monday says: "The notes of the following Indiana Banks were thrown out on Saturday :Central and Farmers' & Mechanics' Bank of Indianapolis; Tippecanoe Bank at Logansport; and Brookville Bank at Brookville. The latter Bank, however, was by some considered good, and some of the houses continued to receive the paper at par. It is owned and managed, we are informed, by good and responsible men.Of the Illinois Banks, the notes of the following were thrown:-State Stock Security Bank at Danville; People's Bank at Carmi; Prairie State Bank at Washington; Rushville Bank at Rushville; Agricultural Bank at Marion; Central Bank at Peoria. The Bank of the Capitol at Indianapolis, the Exchange Bank at Greencastle, Ind., and the Farmers's & Traders' Bank at Charleston, III., are received with distrust. What this excitement will lead to, it is difficult to say." We wish it would lead to an abandonment of the new-fangled patent-Democracy system of banking without capital. If the present Legislature does not do something to protect the people from the flood of spotted paper, called money, we wish they would go into "joint convention" in the penitentiary for two years, and let the people elect Legislators who would do some good.

2. January 23, 1857 Daily Nashville Patriot Nashville, TN

Article from Daily Nashville Patriot, January 23, 1857

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THE Indiana AND ILLINOIS FREE BANKS.The Cincinnati Gazette of the 19th says: The failure of the Gramercy and Shawnee Banks of Indiana have caused a great deal of confusion among our money dealers, with reference to the Free Banks of Indiana, Illinois and Wisconsin, all of which, just now are looked upon with suspicion. The notes of the following Indiana Banks were thrown out to-day: Central and Farmers and Mechanics' Bank of Indianapolis; Tippacanoe Bank, Logansport; and Brookville Bank, Brookville. The latter bank, however, was by some considered good, and some of the houses continued to receive notes at par. It is owned and managed, we are informed, by good and responsible men. Of the Illinois Banks, the notes of the following were thrown out: State Stock Security Bank at Danville; People's Bank at Carmi; Prairie State Bank at Washington; Rushville Bank at Rushville; Agricultural Bank at Marion; Central Bank at Peoria. The Bank of the Capitol at Indianapolis, the Exchange Bank at Greencastle, Ind., and the Farmers' and Traders' Bank at Charleston, Ill., are received with distrust. What this excitement will lead to it is difficult to say. All the Free Banks will sustain a heavy run, but those that intend to comply with the new law and continue business will probably be able to sustain their credit. The chief cause of all this trouble lies in the fact that the owners of the Gramercy and Shawnee Banks withdrew their bonds from the Auditor of State prior to their failure, leaving nothing in the hands of the State officer to redeem their cireulation.

3. January 29, 1857 Fayetteville Observer Fayetteville, TN

Article from Fayetteville Observer, January 29, 1857

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The Indiana and Illinois Free Banks The Cincinnati Gazette says: The failure of the Gramercy and Shawnee Banks of Indiana, have caused a great deal of confusion among our money dealers with reference to the Free Banks of Indiana, Illinois, and Wisconsin, all of which, just now, are looked upon with suspicion. The notes of the following Indiana Banks were thrown out to-day: Central and Farmers & Mechanics' Banks of Indianapolis; Tippecanoe Bank, Loganport; and Brookville Bank, Brookville. The latter bank, however, was by some considered good, and some of the houses continued to receive its notes at par. It is owned and managed, we are informed, by good and responsible men. Of the Illinois Banks, the notes of the following were thrown out: State Stock security Bank at Danville; People's Bank at Carmi; Prairie State Bank at Washington: Rushville Bank at Rushville; Agricultural Bank at Marion; Central Bank at Peoria. The Bank of the Capitol at Indianapolis, the Exchange Bank at Greencastle, Ind., and the Farmers' and Traders' Bank at Charleston, Ili., are received with distrust. What this excitement will lead to it is difficult to say. All the Free Banks will sustain a heavy run, but those that intend to comply with the new law and continue business will probably be able to sustain their credit. The chief cause of all this trouble lies in the fact that the owners of the Gramercy and Shawnee Banks withdrew their bonds from the Auditor of State prior to their failure leaving nothing in the hands of the State officer to redeem their circulation.

4. January 31, 1857 The Evansville Daily Journal Evansville, IN

Article from The Evansville Daily Journal, January 31, 1857

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The Cincinnati bankers and brokers are making a run on the Central Bank and Bank of the Capitol, at Indianapolis. It is said the circulation of the Central Bank is about $40,000; the proprietors having been calling it in for a, year past, and the circulation of the Bank of the Capitol is only $4,800.

5. February 2, 1857 Daily Nashville Patriot Nashville, TN

Article from Daily Nashville Patriot, February 2, 1857

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News Brevities. Gov. Newell, the new Executive of New Jersey, had to walk from Allenton to Trenton, on the 21st ult., to be inaugurated, the roads being 80 bad as to forbid traveling in sleighs or on horse. back-distance 12 miles. The Governor was ace companied by John Vandyke, Eeq. of New Bruns wick, who happened to find himself on Sunday at the Executive residence. Atl o'clock the inaugu. ration took place in the Senate shamber, the storm preventing a large attendance. The Shelbyville Expositor says: "We are informed that on last Friday week, a young man named John Pearson, living near Bellbuckle, in County, was thrown from his house, by which accident he suffered & severe fracture of the skull.At last accounts, be was lying in very critical condition. Prof. Eve, of Nashville, and Dr. Avent, of Murfreesboro, had been in attendance and removed from his skull piece three inches equare." Dodge was defeated in the Boston court in the suit brought by one of his singers to recover $250 for services. In New York City Michael Nugent for throttling a man by the garote system and then robbing him has been convicted and sentenced to imprisonment for life. He only obtained six and a quarter cents, Tennessee River was frozen over, and crossed on the ice at various places last week-at Whitesburg, above Florence, &c., and persons were seen walking about on the ice at Decatur :Such things were never known before. So says the Huntsville Advocate. The Female Academy building at Abings don, Va., was destroyed by fire on the 16th inst. Nothing was saved from the building, and the loss is quite beavy. A fine piano, valuable philosoph. lical apparatus, and an extensive library were consumed. In addition to the donation of $250 to the poor of Louisville the Northern Bank of Kentucky has appropriated a similar amount for the relief of the destitute of Lexington. There appears to be just now a great rage for what might be properly termed the immoral drams. In Paris plays after the style of La Dama aux Camelias are found the most attractive. The Empress weepsover Piccolomini's representation of a consumptive prostitute with a high soprano voice, and, of course, every one with the elightest pretentions to respectability imitates the lachrymal tribute of Eugenie precisely as they adopt her cris noline. In London all Belgravia was likewise af. fected the same cause; and in New York we find three of the principal theatres serving up the same dish, more or less spiced, according to the supposed appetites of the patrons and the conscience of the manager. The N. 0. Picayune of the 25th inst., says: 'We have notised some weeks ago the presence in our city of some of the contractors with the Tehuantepec Company for the establishment of a wa gon and carriage road across the Isthmus to the Pacific and by that route to facilitate communica= tion with California. Mr. Stevens, one of those gentlemen, has just returned in the Calboun, and brings most encouraging intelligence with regard to this great and desirable improvement. The CODF tract binds those whe have embarked in this enterprise to have the facilities for travel across the Isthmus completed by the 5th prox and Mr Ste vens tells us that things are already in that state of forwardness which warrants the firm assurance that the road will be ready by that time, and wagons passing over it. The eoaches agreed upon will soon follow, and in very little time travelers will be comfortably passing over a route that lessens the distance to California some 1,200 miles when compared with that across Panama. The land transit from Suchil to the Bay of Ventosa is 109gmiles. Five hundred laborers, many of them natives, are now industriously at work completing the work." We see that the sprightly though naughty authoress, who calls herself George Sands has ex pressed herself very strongly in favor of being burned after her death. If there is truth in the scripture, we guess she will have her wish. The books and papers of the Chicago Joint Stock Company have been seized by thesheriff. Its recent distribution of houses and lots by lottery proved a swindle-those who drew prizes having been unable to realize anything. Massachusetts papers state that the prohibi tory liquor law now proves utterly inefficient there They assert that never, at any previous time, bat there been 80 free and unrestricted asale of liquo 10 Boston as at present. Drinking saloons have multiplied until they are to be found at the cornet of almost every street. Four or five wild-cat banks, utterly without basis, have been started in Kansas by speculator in the neighboring States.-Two public schools have just been finished at an pense of $20,000 each, at Rockford, Ill-Thirty thousand dollars have been subscribed to the first railroad in Kan sas-from Quindora to Lawrence. Water is selling in Paul, Minnesota, at ten cents per barrel. The Buffalo Republic says that a few days ago young lady of that wrote several Sundred invitations and had them distributed, to attend party at the house of a prominent citizen on a cer tain evening. The party came off sure enough but is was a mutual surprise party. The Indiana papers state that the Cincinnat bankers are making a run on the Central Bank and Bank of the Capitol, at Indianapolis. It is said the circulation of the Central Bank is about 00 the proprietors having been calling it in for year past, and the circulation of the Bank of the Capitol is $4,800. A sugar house in New York last week sole $100,000 worth of common brown sugar for ter cents per pound-a higher price, it is said, than the same article ever brought in that market. The quality was precisely the same as that which the same house was selling eighteen months since a six cents per pound. The Columbia Mirror of Friday says"While on bis way to town one day last week, Mr Harmon Smith, who lives near the turupike six or seven miles North of this, discovered the track o a snake in the snow, and on following It a few yards from the road, fonud and captured the snake It was of a dark color, nearly black, and measured three and a half feet in length." A case, interesting to Indies, has been de cided in New York. Miss Agnee Moss ordered ( wreath from J. S. Rosenbaum and wife, for $1 and called at the store to get it and pay for it. 1 did not suit her, and she refused to take it; where upon Mrs. Rosenbaum locked the store door and would not let her leave for four haurs. For this violation of the rules of "shopping," the jury made Mra. Rosenbanm pay $100 damages.

6. September 16, 1857 New-York Daily Tribune New York, NY

Article from New-York Daily Tribune, September 16, 1857

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We are requested to, state that the Hon D. B. Mstteson is not in the Michigan Southern Railroad Corpany, and that his name has been used in that Inection without his knowledge or approval. The, Clearing House settlements are favorable today, and the Banks are all strong The restricted state of general business is shown by the amount of transactions, which were only $16,485,000. We have to notice a continuance of the improved state of feeling among the Banks. They have been strengthened by the results of the statement published this morning, and evince a disposition to meet the needs of their dealers in the right spirit. As far as we could learn, all the Banks with whom Tuesday is discount day accommodated their customers to day to the full extent of their receipts. A large amount of paper, however, finds its way into the discount houses, and is passed at high rates; 15024 per cent for the best signatures. The inquiry for paper continues large, and the absence of further failures to-day has given a somewhat better tone to the market. No new Banks are thrown out today, excepting the Bank of the Capitol, at Indianapolis. The uncurrent money brokers are busily employed, and we notice no amelioration in rates of discounts. The present crisis has shown very fully the value to the mercantile community of the uncurrent money system inaugurated by the Metropolitan Bank, and followed up by the American Exchange Bank. These two banks have received since 1st Aug. last in the aggregate $35,000,000 of State and NewEngland currency, and 1 and 1.10th discount, while the same currency has been fore portion of the time selling in the street at I and 1 P cent discount. What the rate would have been if all this currency had been thrown upon the street for sale it is impossible to say, but the saving to the public by the system" has undoubtedly been many hundred thousand dollars. In addition to this, these strong institutions have been enabled to carry the currency for banks which could not promptly respond, and thus have prevented many bank suspensions. Adrian H. Muller will hold bis weekly auction sale of Stocks and Bonds to-morrow (Wednesday) at 121 o'clock, at the Merchants' Exchange. Messrs. Groesbeck Bros. advertise that they are prepared to buy and sell stocks on time, without regard to the restriction rule just adopted by the Board of Brokers. The Albany Journal says that the Supreme Court has appointed Edmund A. Wetmore Receiver of the Ontario Bank at Utica. The following is a statement of sales of the Illinois Central Railroad Company's lands for the month ending Aug. 31, 1857: CONSTRUCTION LANDS. 25,469.17 acres sold at an average of $12 44 P acre $353,826 37 FREE LANDS. 5,124.00 acres sold at an average of $13 72 P acre.. $78,683 51 INTEREST LANDS. 640,00 acres sold at an average of $18 75 p acre.. $13,144 3,721 80 Sales of Town Lots applicable to Interest Fund AGGREGATE. Total. Interest. Principal. 25,469 17 acres Construction 37 98 $854,826 39 $37,809 $317,016 Lands sold for 5,124.00 acres Free Lands 51 78,683 8,372 08 70,311 43 sold for 640 acres Interest L'ds 80 13,144 1,144 80 12,000.00 sold for 68 86 $446,654 Total, 31,233.1 17 ac's sold for $399,327 82 $47,326 176 30 3,721 30 3,545 Add Town Lots sold for 82 16 $450,375 9 $47,503 $402,872 Total for all RECAPITULATION. Total. Interest. Acres. Ht's. Principal. Agg e of last 01 84 $3,224,115 17 $338,918 mo'thly $2,885,196 Agg'e of this 98 47 503 16 450,375 31,233.17 402,872 82 report Tot. of all to date 266,629.00 $3,288,068.99 $386.422 $3,674,490 99 The Shipping List gives the annexed statement of the Cotton crop: COTTON CROP OF THE UNITED STATES. STATEMENT and Total Amount for the Year ending August 1857

7. September 19, 1857 The New York Herald New York, NY

Article from The New York Herald, September 19, 1857

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The Union Straw Works, or Foxboro, suspended on Monday for all pay ments over $100. the failure of Car center, Ede & Co, of New York, was the immediate cause. We bear that the Ellenville Glass Company, an institu tion which bar always bitherto had the best business charecter, has suspended. The company is said is be indebted to the Hugsenet Bank about $30,000. Mr. John Woolley, proprietor of the Bank of the Capt. tol, Indianapolis, Ind., failed on the 14th inst. The circulation of the bank is small, and is secured by the deposit of Sate stocks. The liabilities of the Citizens' Bank of Oincinna I are stated at $484,432, and the assets at $987,410. The suspension of Charles H. Mills & Oo, dry goods dealers at Boston, was announced yestersday by telegraph. Messrs. Tyler & Wild, shoe dealers, of Rochester, failed on Tuesday. The Chicago Tribune reports the sale of the St. Clair Railread, in St Clair county, Illinois, for $10,300. Messrs houteau, Harrison & Valle, of St. Louis, were the purcha-ers. The Miami Valley Bank at Dayton is reported suspend ed. The Cleveland Plaindeater says the bills are good if the securities have not been swapped off. The Evening Journal corrects the erroneous statement of the circulation of the banks retarned at the depart ment, for which securities have been surrendered, and given the Sgures from the department:Burned circulating notes of free banks from August 15 $960,000 to Sept. 16 501,008 Block surrendered during same period 110,000 Bonds and moriganes Total securities surrendered $611,000 In addition to the above, the incerporated banks have $169 000 returned 60,000 They have received new notes $119,000 Total

8. September 21, 1857 New-York Daily Tribune New York, NY

Article from New-York Daily Tribune, September 21, 1857

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$31,978,813 $17,786,033 Total $14,092,780 Decrease as compared with 1856 The Cincinnati Gazette says: The general feeling in financial and commercial circles continues to improve, but no material relief has as yet been experienced in the money market. Exchange continues scarce and firm at 2 premium. In addition to the suspension of the Bank of the Capitol at Indianapolis, noticed yesterday, we have also to report the suspension of the Central Bank. Both institutions were winding up, and have a very small outstanding circulation, and this is secured by State stocks. The banks had some money on de posit, but how much we are not advised,

9. September 25, 1857 New-York Daily Tribune New York, NY

Article from New-York Daily Tribune, September 25, 1857

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Corwine & Tompkins, Ashland, N. Y, failed. Elf Merriam, Leyden, N Y., assign. d. Satural Norcross & Co., Tansboro, N. J. failed. Caleb Cope & Co., " Dry Goods," Philadelphia, suspended; heavy. Aaron F. Lippincott, Dry Goods," Philadelphia, suspended; liabilities heavy. Hecking, Heiskell & Co, "Dry Goods," Philadelphia, 4118perded liabilities large. Terment, Darrickson & Co., Dry Goods," Philadelphia, sus. pended John Farnbnum & Co., "Commission," Philadelphia, 814, pended, liabilities large Hacker Les & Co. Philadelphia, suspended Deal, Mulligan & Huey, Dry Goods," Philadelphia, 8119pended T. P Remington Philadelphia, suspended. Robert Patterson & Co, Cotton and Sugar," Philadelphis, suspended: liabilities large. Fenneff Hughes & Co, "Commission," Philadelphia, suspended. R Garsed & Bro., "Cotton," Philadelphia, suspended Chae Hallowell & Co Hate." Philadelphia suspended. James P. Parot & Bro., "Flour and Grain," Philadelphia, suspended 1. W. Stitt & Co., "Wool," Philadelphia, suspended; liabilities said about $250,000. J hn Briggs & Co., 'Calico Printers." Phila. expended, Reeves, Buck & Co., and Reeves, Abbott & Co., Railroad Iron," Philadelphia, reported suspended; we learn have obtained BD extension. and will resuine business. Walters & Stackhouse, "Straw Goods." Phila, suspended. S. P. Wiltbank, Straw Goods" Philadelphia suspended. S. Brock jr. Notions.' Philadelphia/suspended. John Drake, Shoes,' Philadelphia, suspended. John L Pomeroy, Oils," Philadelphia, suspended. Longmire & Brooke Philadelphia, suspended. T. K Collins, Philadelphia, suspended. Charles Dana. Scranton Penn, failed. Hawley & Barton, Scrapton. Penn, failed. Thomas Birtbeck, Tamaqua, Penn suspended. Daniel P. Hase & Co, Shamokin Penn, failed. James B. Kennard, Withington Del, failed. C. H. Rippelmeyer & Co., Baltimore, suspended. F. A McGhee. Washington, D. C. failed. James Foley, Charleston, S. C., failed A. M. Watermann & Co, St. Louis, Mo, failed; liabilities large. B. Clapbamson & Co. St Louis, Mo, failed. Ward & Nash T bacco," Louisville Ky., suspended. John K Gelhart. Dayton, Ohio. failed and assigned. John P. Moore, Dayton Ohio, failed. Robert H. Atkirs, Cambridge, Ohio, assigned. Albert Strong Witchester, Ohio failed. Joha Wooley proprieior of the Bank of the Capitol, Indian spelia, Ind.. failed; circulation email, and is secured by the deposit of State streke S.J. & C. J. McCole, Noblesville, Ind. assigned. Thomas George & Co., Hardware," Chicago, III., assigned; liabilities $80,000 and assets about $100,000. Higinbotham & White, Chicago, III., failed. Frasher & Carr, Chicago. ssigned. W P. Swift & Co. Chicago, 11. suspended. 1 S. Lower. Kankakee III. failed. Wm Butler & Co Kankakee, Iil failed. M. F Beebe, Union Corners, III, failed. Phittiplace & Burdick Kalamazoo. Mich, failed and assigned. Henry C. Ripley, Detroit, Mich , failed and assigned Munson & Ocobock, Hudson, Mich , failed in consequence of 088 by fire. May & Cloyes, White Pigeon, Mich , failed. Newman A Brown, Madison, Wis, assigned. Parry & Freeman. Burlington Iowa, assigned. Burns & Rentged, Keokuk, low3, assigned. David Wilcox foledo, Iowa. failed Joseph Kelly, Montezuma, Iowa, sold out and suspended. John E. Beebe, Lyon8, Iowa, suspended and assigned. Joseph A. Brown, Monticello. Iowa, sold out. William F. Lewis, Oakville, C. W., assigned.

10. September 27, 1857 Wheeling Daily Intelligencer Wheeling, WV

Article from Wheeling Daily Intelligencer, September 27, 1857

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FAILURES, ASSIGNMENTS &-We copy from the New York Independent, the following list of failures, assignments &e, for the week ending on Thursday last: Piston Mills Co., Dry Goods commission merchantsand agents Hadley Falls Ca., the Lyman Mills. the Great Falls, Chickopee, Perkins Dwight manufacturing companies, suspended, with bilities reported het reen two and three millions. E. D. Bringham & Co., Commission, suspended;-liábilities reported $400,000. John Grace & Co., Commission, suspended. Consnt & Edmonds, Commission, suspended. Loring & Co., Hard ware, suspended." Emmons, Danforth & Scudder, Grocers, suspended; liabilities said about $390,000, Farley, Morrison & Co., Leather, suspended. Demond & Robinson, Grocers, suspended. 0.W. Forbash, Shees, failed. C. H. Stone & Co., Hardware, suspended. Ralph War ren. suspended; liabilities said about $40 000.New York. -Cyrus W. Field & Co., Paper, suspended. Perse & Brooks, Paper, suspended. George Everson & Co., Findings, suspended in consequence of the failure of N. Chase & Co., Buffalo, for whom they have accepted: it is expected will soon resume and pay in full. Lockswanns Railroad and Coal Co., assigned. Meyer & Ree, suspended. Robert M. Masterion & Co., Grocers, suspended. C. E&W. J. Babcock, Dry Goods, suspended. Wm. Stephens & Son, Wire. saspended. Murray & Davis, Wool, pended. L & V. Kirby & Co., Dry Goods, previously reported suspended, have obtained an extension of six, twelve, eighteen and twentyfour months, their own notes with interest, and will continue business as formerly. George & Bro, Shoes, suspended, but are said to show a good surplux Cox, Richardson & Boyton, Stores, suspended; sold out to Johnson & Cameron, and hope to pay in full. W. & M. Friendlander, Trimmings, suspended. David Rowland, Jeweller, failed and assigned. M. S. Friend, Jeweller, suspended; asks an extension. Adolph Rodewald, failed and assigned. John Liddle, Stoves, failed. Edmund Charles, as signed to Geo. W. McLean and Boardman Baldwin. Jacob L. Bach & Co., Clothing, suspended; asking an extension. J. Brown & Co., Clothing, suspended and assigned. LP. & D. F. Barnes, Troy, failed. W.P. Swift, Utica, assigned to C. G. Tallman. B. B. Johnston, Palmyra, failed and assigned. Theodore S. Whitney, Niagara Falls, assigned. Samuel J. Holley, Oswego, suspended. Tyler & Wild, Shoes, Rochester, failed. Davis, Shydam, Du. hois & Co., Bankers, Rondout, N. Y. suspended. A. H. Deimel, Herkiner, assigned. E. D. Angell, Oswego, assigned. W. T. Hastings, Horseheads, failed; liabilities said about $80,000. E. T. Grant, Newark, suspended. Geo. W. Wiles, Fillmore, assigned. H. W. Chadwick, Jordon, failed. Corwine & Thompkins, Ashlund, failed. Eli Merraim, Leyden, assigned. Philadelphia.-Caleb Cope & Co., Dry Goods, suspended; liabilities heavy. , Aaron Lippincott, Dry Goods, suspended, liabilities heavy.Hoskins, Heiskell & .o., Dry Goods, suspended; liabilities large. Tennent, Derrickson & Co., Dry. Goads, suspended. John Farnum Co., Commission, suspended; liabilities large. Hacker, Lea & Co., suspended. Deal, Mulligan & Huey, Dry Goods, suspended. T.P. Remington, suspended. Robert Patterson & Co., Cotton and Sugar, suspended; liabilities large. Senneff, Hughes & Co., Commission, suspended. R. Garsed & Bro., Cotton, suspended. Charles Hallowell & Co., Hats, suspended. James P Perot & Bro., Flour and Grain, suspended. L. W. Stitt & Co., Wool, suspended; liabilities said about $250,000. John Briggs & Co., Calico Printers, suspended. Recves, Back & Co., and Reeves, Abbott & Co., Railroad Iron, reported suspended, we learn have obtained an extension, and will resume business. Walters & Stackhouse, Straw Goods, suspended, S. P. Whitbank, Straw Goods, suspenped. S. Brock, Jr., Notions, suspended. John Drake, Shoes, suspended. John L. Pomeroy, Oils, suspended.Longmire & Brooke, suspended. T. K. Collons, suspended. Dana, Seranton, Penn., failed. Hawley it Barton, Scranton, Penn., failed. Thomas Birkbeck, Tamaque, Penn., failed. Daniel P. Haas & Co., Shamokin; Penn., failed. James B. Kennard, Wilmington, Del., failed. C.H. Ripplemeyer & Co., Battimore, suspended. F. A. McGhee, Washington, D. C., failed. James/Foley, Charleston, S. C., failed. A. M Watermann & Co., St. Louis, Mo., failed; liabilities large. B. Claphamson & Co., St. Louis, Me., failed. Ward & Nash, "tobacco," Louisville, Ky., suspended. John K. Gelbart, Dayton, Ohio, failed and assigned. John P. Moore, Dayton, Ohio, failed. Robert H. Atkins, Cambridge, Ohio, assigned. Albert Strong, Winchester, Ohio, failed. John Wooley, proprietor of the Bank of the Capitol, Indianapolis, Ind., failed; circulation small, and secured by the deposit of state stocks. S. J. & C.J. McCole, Noblesville, Ind., assigned. Thomas George & Co., "hardware," Chicago, III.. assigned; liabilities $80,000, and assets about $100,000 Higinbotham & White, Chicago, III., failed. Frash er & Carr, Chicago, III., assigned. -W. Swift & Co., Chicago, Iil, suspended. I.S. Lower, Kankakee, I!I., failed. Wm. Butler & Co., Kankakee, III., failed. M. F. Beebe, Union Corners, III., failed. Phittiplace & Burdick, Kalsamazóo, Mich., failed and assigned. Henry C. Ripley, Detroit, Mich., failed and assigned. Munson & Ocobacks Hudson, Mich, failed in consequence of loss by fire. May & Cloyes, White Pigeon, Mich., failed. Newman A. Brown, Madison, Wis, assigned. Parry & Freeman, Burlington, lown, assigned. Burns & Rentgen, Keokuk, Iowa, assigned. David was less Giled Inseph Kelly

11. September 28, 1857 The Davenport Daily Gazette Davenport, IA

Article from The Davenport Daily Gazette, September 28, 1857

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Diecred Manko. The following is a corrected list to date, of recent euepended and discredited banks Nebracks money has been thrown out by our bro here. except the Bank of Florence Bank of the Capitol, Indianapolis, Indiana, e. . do Central Hank, do do Bank of Elgin. III as, email circulation Mechanics Banking Association N IY .. Ohio Life and Truel company, don't leetle notes. Bank of Kanewha, Va Reciprocity Bank Buffalo, N.Y now bank . . Hollister Bank, Buffalo N Y. . . Warren County Bank Pa. Bank of Middletown, Pa. Honeedale Bank. Pa Bank of North America, Conn. Ontario Bank. Utica, N.Y. Fort Plain Bank . . Farmers' Bank of Saratoga N Yee Farmers' and Manufacturere Bank Poughteepsie N Y Farmers' Bank Wickford R I M Vernon Bank, Providence R I Tiverton Bank, Fall River R I Wooster Bank, Dembury Conn. Borgen County Bank, N. Ellaworth Bank, Maine. Bank of the South County. R I Sackett's Harbor Bank N Y. This Bank which was an oid liner. was lately merged into the Recipro city Bank at Buffalo: but few of the notes of either were in circulation in the west. Exeter Bank N H South Royalton Bank, Vt. Chemung County Bank, Horseheads N Y .. Geneca County Bank, Ohio Oliver Lee & Co.'s Bank, Buffalo, N Y reported failed, e.e. Ningara River Bank Tonawanda N Y reported failed, Hancock Bank, Maine Maratime Bank, Maine America Bank, Trenton N J. Bank of New Jersey, New Brunewick; N J Huguenot Bank New Platz N Y . . Bank of South County, Wakefield R I Rock River Bank, Reloit, Wisconein . . Farmers Bank Hudeon. Wis . e. Bank of Colehester, Conn Western Bank Lockport N. Y Niagara Cocunty Bank, Lockport N Y Note means secured by Statestocks Our eubecribere ought to lose nothing by the euepension of these banks The others have but little circule tidn in the west Our readers are cautioned against exercificing notes of occured banks, as some of them will probably be reinstated, while those finally compelled to close up, in the ordinery couree of things, will pay a large proportion of their debt. -- Chicago Tribune 24th To these we may add the following Medius Hank, Medina. N Y Hank of Hallowell, Maine Girard Bank Philadelphia. Bank of Philadelphia Bank of Commerce, Philadelphia

12. October 1, 1857 The Weekly Pioneer and Democrat Saint Paul, MN

Article from The Weekly Pioneer and Democrat, October 1, 1857

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80 ets. Per 160 acres, 85 cts. 80 80 85 .. 120 .. 75 80 .. 49 " 1 00 I 05 In reference to the recent failure in Dubuque, the Express & Herald, of Wednesday. says: The Suspension of Heron Bros., Bankers'of this city, was annonced on Friday, the 18th in stant, and created no little surprise, although it warknow is that for some time previous their drafts upon their correspondents in New York had been dishonored, and returned under pro. test: still their failure was unexpected. They, we believe, attribute the real cause of their present embarrassment to the general stringency of the money market, both here and elsewhere, and the inability or refusal of their New York correspondents to honor their over drafts, together with the suspension of a Banking House in Galena, through whom, directly orindirectly, they were about negotiating a temporary loan. We presume that time is all that is required to put them upon their feet again. The Chicago Democrat contains the following: Our money market continues unusually strin gent, and rates of exchange on New York are higher. We beur on Saturday and Monday, of some of our bankers and brokers selling to outsiders at 6 per cent. Gold was selling at 5 @66 per cent. with considerable demand for small parcels. We hear of one assignment of a large house to-day, with liabilities amounting to $150,000 and assets $95,000. In regard to the condition of the New York money market the legraph also has the following: New YORK, Sept. 21. Money fully as stringent as last week, not withstanding the banks discounted to the fall extent of their means. Stocks were conse. quently unusually depressed, and some fell largely. First class endorsed paper sold in the streets at the rate of 18 and 21, and single name bills for 24 and 30. The announcement of heavy failures in Philadelphia added to the de pression. Mr. JOHN WOOLLEY: proprietor of the Bank of the Capitol, Indianapolis, Ind., failed on the 14th instant. The circulation of the bank is small and is secured by the deposit of State stocks. The liabilities of the Citize Bank of Cincinnati. are stated at $465,532. and the assets at $987,410. The suspension of CHARLES H. MILLS & Co., dry goods dealers at Boston. has been announced by telegraph. Messrs. TYLEY & WILD, shoe dealears, of Rochester, N. Y. failed on Tuesday. We hear that the Ellenville (New York) Glass Company, an institution which has always hitherto had the best business character. has suspended. The Company is said to be indebted to the Huguenot Bank about $30,000. Private despatches to our bankers yesterday evening cautioned them not to buy the notes of the Yates County Bank. New York. The telegraph from New York. on the 20th says : The weekly bank statements show an in crease of specie of $1,374,329. ania decrease in loans of $1,108,151, in circulation of $1,485,113, and in deposits of $615,602. The total specie on hand is $13,556,186. There must be an error in these figures. The last specie reserve was $13,096,305. which would give an increase of $459,881. taking $13,556,186 as the present reserve. There is an error in these latter figures, or in the increase given above.

13. October 3, 1857 The Washington Union Washington, DC

Article from The Washington Union, October 3, 1857

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FINANCIAL MATTERS. We take the following from last Wednesday's issue of the Louisville Democrat: The reports of failures and suspensions in other places, that come thick and fast, are calculated to alarm the community and the fall of the trash circulating as money here is something more than alarming. It is a real loss. It is, however, the general opinion that the South will suffer but little from this revulsion, and we think the opinion is well founded. The South has not been living on credit, and going ahead on credit, as her northern neighbors have. We have but little of the securitics that have 80 much depreciated. Our banks have been well managed, and are not connected with the points where the suspensions have taken place. Their resources are notat those points. There is no question but our banks can meet all liabilities. For their own sakes, they need not suspend. This confidence will perhaps prevent any run upon them for note-holders and depositors are like the Frenchman who said if his debtor had the money, he no want it : but if he hadn't it, he wanted it dam bad. If the price of eastern exchange can' be kept at reasonable rates, there will be little temptation to induce bankers to gather up the issues of our banks to draw the specie. It is by no means certain that our business community and our banks can't go through without difficulty. Some inconvenience must of course be felt from the stop put to the circulation of suspended or doubtful institutions that have been current amongst us. The worst effect will result from the uncertainty in the operations of our banking institutions. They do not contemplate suspension. No contingency that is probable will make a resort to such an expedient necessary. But the uncertain action of the banks in curtailing business and contracting accommodations produces an uneasy feeling in the community that will impair the strength of the banks themselves. They can, we believe, brave the storm, and the sooner they determine on their course the better. As long as they don't know what they can do for the business community, and postpone business, distrust must take the place of confidence. Much depends upon the decision of the banks themselves. They know their own business, and if they betray a distrust of the times in their own business, outsiders will, of course, feel more apprehensions of coming events. The reports from other sources will, we trust, produce less effect in a few days, as the news becomes more definite. Patience in the mean time and forbearance will serve to lighten the burdens which distrust inflicts upon all. The principal points of our trade are in no danger of bank suspensions- New York and New Orleans. Whilst they remain firm, the present derangement of things cannot extend far, nor last long.' The Indianapolis State Sentinel says: Money continues to be very scarce in our city, and borrowers find it very difficult to make loans. Eastern exchange is 3 per cent. premium, and is only sold by banks to depositors and remitted for collection. The Indiana banks are paying specie, and no fear is expressed that they will suspend, unless those of Ohio and Kentucky are compelled to do so. Bankable currency is confined to Ohio, Kentucky, New Orleans, Missouri, and Indiana bank notes. The report that the Tippecanoe and Huntington county banks had suspended is confirmed. The brokers of Cincinnati for some days past had been putting their funds into Virginia currency, but they are now putting them into Louisiana, and are laying that aside. In answer to several inquiries in reference to the Central Bank, we state that its notes are not redeemed at any place, but Fletcher and the Branch Bank are receiving it as currency. The committee appointed on the part of the depositors of the Bank of the Capitol to examine into its affairs and the condition of the assets assigned to pay them reported at an organized meeting on Monday evening that if the assets turned out as well as expected, the depositors would probably receive about sixty cents on the dollar." In the same paper we find the following in relation to the free banks of Illinois : The Chicago Commercial Exchange of the 3d of September contains a statement of the condition of fortyseven of the free banks of Illinois, made to the auditor of State on the 6th of July last, from which it appears, by their own showing, that only eight of the number are doing a legitimate banking business at their own counters. The assets of these forty seven banks were Loans and discounts, $186,556 and specie, $676,1 119 83 making a total of $862,672 94. The liabilities were, for circulation, $5,535,690, and for deposites: 50making a nominal excess of liabilities over assets of $5,819.699 56!!!" "This statement shows that most of the Illinois banks mere kiting concerns, not established to do a legitimate banking business. We presume they were got up in the same way that most of the free banks in this State were in 1854, and with a similar object in view. But little or no capital is required to start one of these institutions. The stocks can be borrowed, and paid for with the circulation issued upon them. If times are 'good, all goes well, and the redemptions are sustained. The profit cf the banker is the interest upon State stocks, and the natural loss of the notes in circulation less the expense of redeeming the notes presented for redemption. If a money panic comes, and stocks fall ten, twenty, or thirty per cent., the banker lets the community suffer the loss. "Of what benefit are such institutions to the country, or what capital do they furnish to facilitate business ? None whatever. A circulation of this character should not be countenanced in good or bad times. The Nashville (Tennessee) Union of Tuesday says A meeting of merchants and business men was held yesterday, we understand, to take the state of affairs into consideration and devise some means to allay the panic and relax the money market, at which a resolution was adopted requesting the State, Union, and Planters' Bank to suspend specie payment for the present. This, we are very much gratified to learn, these banks promptly and unanimously declined to do. This determination has given additional confidence to the public in the good faith and reliability of these old and long-tried institutions." For the Union. BALTIMORE AS IT IS.

14. October 9, 1857 Vermont Watchman and State Journal Montpelier, VT

Article from Vermont Watchman and State Journal, October 9, 1857

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LIST OF SUSPENDED BANKS TO SEPT. 25TH. Meusam River Bank, Sanford, Maine. Canton Bank, South China, Maine. Ellsworth Bank, Maine. Exchange Bank, Bangor, Maine. Sanford Bank, Sanford, Maine. Exter Bank, New Hampshire. Danby Bank, Vermont. South Royalton Bank, Vermont. Bank of the Republic, Providence, R. I. Bank of South County, Wakefield, R. I. Farmers' Bank, Wickford, R. 1. Mount Vernon Bank, Providence, R. I. Tiverton Bank, Fall River, R. I. Warwick Bank, Warwick, R. I. Merchants' Exchange Bank, Bridgeport, Ct. Colchester Bank, Conn. Bank of Orleans, Albion, New York. Hollister Bank, Buffalo, New York. Niagara River Bank, Tonawanda, N. Y. Oliver Lee & Co.'s Bank, Buffalo, N. Y. Ontario County Bank, Phelps, N.Y. Ontario Bank, Utica, N. Y. Reciprocity Bank, Buffalo, N. Y. Sackett's Harbor Bank, Buffalo, N. Y. American Bank, Trenton, N. J. Bank of New Jersey, New Brunswick, N.J. Bergen County Bank, Hackensack, N. J. Bank of Kanawha, Virginia. Trans-Allegany Bank, Virginia. Bank of Commerce, Georgetown, D. C. Canal Bank, Cleveland, Ohio. City Bank, Cincinnati, Ohio, Seneca County Bank, Tiffin, Ohio. Miami Vally Bank, Dayton, Ohio. Clinton Bank, Columbus, Ohio. Columbus City Bank, Columbus, Ohio. Union Bank, Sandusky, Ohio. Agricultural Bank, Brownsville, Tenn. Bank of West Tennessee. Bank of the Capitol, Indianapolis, Ia. Central Bank, Indianapolis, la. Bank of Elgin, Elgin, Illinois. Rock River Bank, Beloit, Wisconsin. Pennsylvania Bank, Philadelphia. Girard Bank, Phiadelphia. Bank of Canandaiagua, Canandaigua. Western Bank, Lockport, N.Y. Commercial Bank, Philadelphia. Six Penny Savings Bank, Rochester, N. Y. Albany Eve. Journal.

15. October 24, 1857 The Tipton Advertiser Tipton, IA

Article from The Tipton Advertiser, October 24, 1857

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We comply with the request of our "subscriber" so far as we have the data on hand. We may not have included all the failures, though we think the list is nearly complete. A few of those given failed previously to the suspension of the Ohio Life and Trust Company. The list embraces both suspended and discredited banks. It would be well for subscribers generally to cut out and preserve the list for daily reference : The following is a corrected list, to date, of recent suspended and discredited banks: Nebraska money has been thrown out by our brokers, exceping the Bank of Florence. Bank of the Capitol, Indianapolis, Ind., S.S. Central Bank, Indianopolis. Ind. S. S. Bank of Elgin, III., S, S., small circulation. Mechanics' Banking Association, N.Y., S. S. Ohio Life Trust Co., don't issue notes, Bank of Kanawha, Va. Reciprocity Bank Buffalo, N. Y., new Bank, S. S. Hollister Bank, Buffalo N. Y., S.S. Warren County Bank, Penn. Arcade Bank, Providence, R. I. Bank of Middletown, Penn. Honesdale Bank, Penn, Bank of North America, Conn. Ontario Bank Utica, N.Y. Port Plain Bank, S. S. Farmers' Bank of Saratoga Co., N. Y., S.S. Farmers' and Manufacturers' Bank Poughkeepsie; N. Y. Farmers' Bank, Wickford, R. I. Mt. Vernon Bank, Providence, R. I. Liverton Bank, Fall River, R. I. Wooster Bank, Danbury, Conn. Bergen County Bank, N. J. Ellsworth Bank Maine. Bank of South County, R. I. Sackett's Harbor Bank, N. Y. This Bank which was an old-I'ner was lately merged into the Recipriocity Bank at Buffalo, but few of the notes of either are in circulation in the west. Exeter Bank, N. H. South Royaltion Bank' Vt. Chemung County Bank, Horse Heads, N. Y., S. S. Seneca County bank, Ohio. Oliver Lee & Co., Bank, N. Y.-reported failed, S. S. People's Bank, N. Y. reported failed. Niagara River Bank, Tonawanda, N. Y., reported failed, S.S. Hammock Bank, Maine. Maratime Bank, Maine. America Bank, Trenton, N. J. Bank of New Jersey, New Brunswick, N.J. Huguenot of Bank, New Paltz, N. Y., S. S. Bank of South County, Wakefield, R. I. Rock River Bank, Belott, Wis.. S. S. Farmers' Bank Hudson, Wis., S. S. Bank of Colchester, Conn. Niagara Co., Bank, Lockport, N. Y. NOTE.-"S. S." means secured by state stocks. Our subscribers ought to lose nothing by the suspension of these The others have but little circulation in the west. Several, it will be noticed, are secured by stocks. Our subscribers are cautioned against sacrificing notes of this class, as some of them will probably be reinstated; while those finally compelled to wind up, in the ordinary course of things, will pay a large proportion of their debts. The issue of discredited banks, without stock security are york uncertain

16. May 27, 1858 The Daily Gate City Keokuk, IA

Article from The Daily Gate City, May 27, 1858

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Indiana Free Banks. The following quotations are based upon the Report of the Auditor of the State of Indiana, dated February 1st, 1858: SPECIE PAYING. atl DISCOUNT. Bank of Geshen, Goshen. Bank of Gesport, Cosport. Bank of Mt. Vernon, Mt. Vernon. Bank of Paoli, Paoli. Bank of Rockville, Wabash. Bank of Salem, New Altany. Bank of Salem, Salem. Bioomington Bank, Bloomington. Cambridge City Bank, Cambridge City. Exchange Bank, Greeneastle. Bank of Indiana Michigan City. Canal Bank, Evansville. CentralB'k, Indianapolis, redeemed by Treasurer of State. Crescent City Bank, Evansville. Bank of Eikhart. Brookville Bank, Indiana. Cambridge City Bank. Farmers' Bank, Westfield. Indiana Bank, Madison. Indiana Farmers' Bank, Franklin. Kentucky Stock Bank, Columbus, Lagrange Bank, Lima. Parke County Bank, Rockville. Prairie City Bank, Terre Haute. Bank of Monticello Fayette County Bank. Merch. & Mech. Bk. New Albany. Bank of Syracuse. Indian Reserve Bank. Hoosier Bank. SUSPENDED-AT 25 DISCOUNT. Agricultural Bank. Atlantic Bank. Bank of Albany. Bank of Albion. Bank of Attica. Bank of Amerios. Bank of Bridgeport. Bank of Connersville. Bank of Perrysville. Bank of South Bend. Bank of T. Wadsworth. Bank of the Capitol. Bank of N. America, Clinton Bank of Rockport. Elkhart County Bank. Savings Bank, Connersville, (secure,) 40 dis. Farmers' Bank, Jasper. Kalamasoo Bank. Laurel Bank. Northern Indiana Bank. N.Y. & Va. St. Stock Bank. Orange Bank. State Stock Bank of Indiana, Peru. State Stock Bank, Marion. Savings Bank of Indiana, (secured). Traders' Bank, Nashville. Wabash Valley Bk. Wayne Bank, Michmond. Wayne Bank, Logansport. Bank of Warsaw. Huntington County Bank. There is 80 little suspended Indiana paper now in circulation, and rates are 80 unreliable, that we do not deem it worth while to give quotations.

17. July 9, 1858 Brookville American Brookville, IN

Article from Brookville American, July 9, 1858

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Bank of the Capitol. The Indianapolis Journal says, that on Saturday last, the Circuit Court of that county set aside the assignment in the case of the Bank of the Capitol, on the ground that it was mabe by Woolley alone, who was but onestcekholder, and the others had the same right to join in it that he had. John C. New was appointed receiver, but refuses to act, and, as ordered by the court in case of such refusal, the assets, boo pora, &c., will be delivered to t the further order of the Court.

18. July 23, 1858 The Daily Gate City Keokuk, IA

Article from The Daily Gate City, July 23, 1858

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Indiana Free Banks. The following quotations are based upon the Report of the Auditor of the State of Indiana, dated February 1st, 1858: SPECIE PAYING. ATI DISCOUNT. Bank of Goshen, Goshen. Bank of Gosport, Gosport. Bank of Mt. Vernon, Mt. Vernon. Bank of Paoli, Paoli. Bank of Rockville, Wabash. Bank of Salem, New Altany. Bank of Salem, Salem. Bioomington Bank, Blooming:on Cambridge City Bank, Cambridge City. Exchange Bank, Greencastle. Bank of Indiana Michigan City. Canal Bank, Evansville. Central B'k, Indianapolis, re eemed by Treasurer of State. Crescent City Bank, Evansville. Bank of Elkhart. Brookville Bank, Indiana. Cambridge City Bank. Farmers' Bank, Westfield. Indiana Bank, Madison. Indiana Farmers' Bank, Franklin. Kentucky Stock Bank, Columbus. Lagrange Bank, Lima. Parke County Bank, Rockville. Prairie City Bank, Terre Haute. Bank of Monticello Fayette County Bank. Merch. & Mech. Bk. New Albany. Bank of Syracuse. Indian Reserve Bank. Hoosier Bank. SUSPENDED-AT 25 DISCOUNT. Agricultural Bank. AtlanticBank. Bank of Albany. Bank of Albion. Bank of Attica. Bank of America. Bank of Bridgeport. Bank of Connersville. Bank of Perrysville. Bank of South Bend. Bank of T. Wadsworth. Bank of the Capitol. Bank of N. America, Clinton Bank of Rockport. Elkhart County Bank. Savings Bank, Connersville, (secure,) 40 dis. Farmers' Bank, Jasper. Kalamazoo Bank. Laurel Bank. Northern Indiana Bank. N.Y. & Va. St, Stock Bank. Orange Bank. State Stock Bank of Indiana, Peru. State Stock Bank, Marion. Savings Bank of Indiana, (secured). Traders' Bank, Nashville. Wabash Valley Bir. Wayne Bank, Richmond. Wayne Bank, Logansport. Bank of Warsaw. Huntington County Bank. There is NO little suspended Indiana paper now in circulation, and rates are so unreliable, that we do not deem it worth while to give quotations.