State Bank - Indianapolis, IN

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: January 4, 1837
Location: Indianapolis, Indiana (39.768, -86.158)

Metadata

Model: gpt-5-mini
Short Digest: 62a6e8ba

Response Measures

None

Description

Article (letter dated Jan. 4) reports that the Judiciary committee has reported the bank's charter forfeited for suspension of specie payments and that the Senate committee thought similarly; it also states a law will likely legalize the suspension and require resumption when neighboring banks resume. No explicit run is described; the text implies a suspension of specie payments with expectation of eventual resumption.

Events (1)

1. January 4, 1837 Suspension

Cause Details: Suspension of specie payments by the State Bank; committees report charter forfeited for suspension and legislature likely to legalize suspension and require resumption when other banks resume.
Newspaper Excerpt: The Judiciary committee of the House has reported that the charter of the Bank was forfeited the of specie payments, and it is g that the Senate's committee thought by suspension will taken make from a similar report. But, if the charter be n 1 her, it will no doubt be given back, and a law J passed legalizing the suspension. I presume, h will also be a law passed, requiring her to I when the Banks of our of or agree to resume with her.
Source: newspapers

Newspaper Articles (1)

1. January 6, 1838 Richmond Indiana Palladium Richmond, IN

Article from Richmond Indiana Palladium, January 6, 1838

Click image to open full size in new tab

Article Text

Just as our paper was going to press we received the fol lowing lesse. from the Senior Editor of this paper, dated, Indianapolis, Jan. 4th, 1837. I have been a regular lounger in the House of Representatives to day, and have heard the subjeet of classification handled by those advocating it as the bette: policy for the State to pursue, and have heard it torn to tatters to those who n precate it as ruinous to the best interests of Indiam. Not 3 solitary thing was done besides arguing this question in the abstract, apparently without any definite object in view; in rath- fact that several speeches were made er for the than for any presume constituents, effect listeners. it would have on those who were the compelled The subject has been permanently settled by a previous vote, that no classification would be made except that which has already been done by the friends of the system They have determined that the Madison and Lafayette Railroad, shall b a Adamized road, and that the cross cut canal shall be also changed to a turnpike, thereby cartailing the probable cost of the whole system at !east $5,000,000. There appears to be every disposition among the "system-men" to make the burther in the people, at this time, as light as so fur as it will be consistent inpossible, up will with make the terests of the State. I think they it agreeable to the wishes of the people throughout Mr. the State. One of our representatives, Smith, made a speech this evening, advocating a modification of the system. I was sorry to hear it from a member from "old Wayne." She has nobly stood up for the honor and plighted faith of state, although she is but slightly benefitted by having a direct connection with the system. She has shown that her patriotism is not selfishness, and that she regards the system of internal improvement as for the summure bonum of the State. The committee appointed to revise the laws are busy at their labors. The special committee appointed to investigate the affairs of the bank are also at work, but I underst and that althoagha slight of misranagement will be found in the conduct one or two of the Branches, it will be sustained. J The Judiciary committee of the House has reported that the charter of the Bank was forfeited the of specie payments, and it is g that the Senate's committee thought by suspension will taken make from a similar report. But, if the charter be n 1 her, it will no doubt be given back, and a law J passed legalizing the suspension. I presume, h will also be a law passed, requiring her to I when the Banks of our of or agree to resume with her. II there States resume, do, only, neighboring who There would are a few individuals here, however, their p sacrifice even the State Bank of Indian, at unhallowed shriue of loco focoism; but a large of R majority will s istain her as the "apple their eyc." She is the strong abutment of and: our hopes as a young and enterprising State, bulwark against which the mandates and anatha- vain J of Van Barenism may be hurled in the R The mas general government has compelled and States to act upon their "reserved rights," hour this is one which will be a firm friend in this H. of deep distress throughout the State. D. P. Wire.- A destructive Fire occurred at Hamilton, Ohie, date at on Thursday, 28th Tile: the "Intelligence:" of that gives the following particulars: of in the frame buildings in the roar the of Basia, the "!!brokeout House of Massra. James Fisher, & Co., had made very R considerable Pork aalway not program discovere Basin, I All until on that the the block west Names by of the buildings, Alley,& bouried oa with the on the south High by street, the ware entirely consumed, House together of Messas. north by valuable contents. The Pork quantities of Pork their & Coin which there was large Harper & Lard, Fisher &c., and the content. Ware were House entirely of Mossers consumed. The the IS Hussion, with of its brick b midings on the west, were, and by ... of adjacent row of the Eng no Companies of Hamilton of the mornqt exertions ville, and of the citi. The stillness ing was favorable. tell with any degree of certainty, the amount twenty th ..We cannot presums that it is at least 18 or were de of thousand the loss: dollars. but we The buildings, we understand, ou by en issured. A portion An accident of the of tragments the most of unclancholy the and buildings Mr. William charactor fell upon occured. Thomas some in were individuals. very severally Mr. S. injured. L. Bayless The former had his back broke, and is not expected to survive. S The Cincinnati Gazette says, that the German Prin- was pr as Office in that city owned by Mr. Benj. Boffinger, insurance. bu ting destroyed by fire on the 25th ult. Loss $800-00 in an IN LAFAYETTE, IND.-We learn from there the on Free the of Came that another case of stabbing took place was at Press, A man by this name of Jessy Bringham stabbed 15th ult. several places in the body, by John was A. Compstock, arraigned be of the Steamboat Dover. Compstock Assault and So mate Justice Slaughter, on a charge of to of before intent to commit murdar--found at the Cirguilty-required Batte- The give ry with bail in the sum of $300 for his appearance been re-taken. cuit Court-gave This leg-bail, is the fifth and case has of not stabbing, shooting little more or Press killing says, which has taken place in our the town culprit within thus far escaped punishment." than a year, and in Lafaycits every case is has getting to be a New Orleans of place! Our latest castern papers bring no very interesting newsfrom Congress. The Mississippi havedeman- representatives elect, Prentice & Word, claims be admitted as members and their in ded to been referred to the committee on Elections, I: will tet M have instructions to report all the facts. of that in: with recollected that Claiborne and Gholson of the the be hold their scats by the decision the two del State at the special session, and that same House former were subsequently elected to the the