Farmers Bank (New Castle, DE)

Episode Information

Episode UID
6561438890885
Episode Type
Suspension โ†’ Reopening
Bank Type
trust
Bank ID
656143889 hash
Start Date
September 27, 1873
Location
New Castle, Delaware (39.662, -75.566)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
62109572d1c85c21

Response Measures

None

Description

Suspension was partial (payments above $40) and described as temporary in contemporaneous reports.

Events (1)

1. September 27, 1873 Suspension
Cause
Macro News
Cause Details
Partial suspension of payments above $40 amid the broader 1873 monetary stringency/panic affecting local banks.
Newspaper Excerpt
Partial Suspension.-The Farmers Bank at New Castle suspended payment on checks above $40 on Saturday last.
Source
newspapers

Newspaper Articles (3)

Article from Delaware Republican, September 29, 1873

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Closed -James Haines left the city, a few days ago, and on Saturday his red store was closed by officer Pritchard. who had a claim from some party for about $96. de Quay at 402 King street, keeps nothing but e the best of hats and caps, and all the latest lead. ing styles. c h Partial Suspension.-The Farmers Bank at New Castle suspended paymenton checks above $40 on Saturday last. The bank has no votes of its own, and depends solely on its depositors for funds to do business. There need be no anxiety in regards to its affairs, as by the exercise of a little confidence business will go on as usual. Fine Sheep. -Jackson Holmes has a fine lot of sheep at Mt. Pleasant Inn, Mill Creek Hundred, and them is a Cotswold said to 225 as he who wish to their buck, stands, flocks that should Farmers among is weigh superior improve pounds give him a call. Dealers who have stock on hand would advance their interests by advertising in the REPUBLICAN. Changed his Mind.-One day last week a gentleman residing at Brooklyn New York, feeling some alarm in regard to the safety of the in the hands of a ton our and demanded same. was handed over the $3000 financier, he had A placed check visited promptly city, Wilmingwhich was as on the following the to and cashed, lone returned of and the the banks, gentleman money the capitalist day promptly took of the of Frenchman safety his departure his funds. for home, Like fully the satisfied who called on the bank, if the Bank had the money he did not want it: but if it had it not, then he wanted it! This incident shows the value of confide Visiting Fire The Liberty Hose Co. of New Brunswick, arrived in our city, last Thursday evening and were escorted to the house of the Water Witch Fire Company, on James made a very which was concludwith Shipley Street, responded appropriate to when by address Wm. Fisher, of McGlinchy welcome, who ed three cheers for the Water were with earof a supper, were our mostness. Witch," they proposing and After they escorted partaking through given sumptious city. great They visted fire on Friday and well on the Saturday different morning companies left for home, pleased with our city, and the manner of their reception. Magistrates Cases.-A case of more than to was tried fore on evening was A of ordinary last. Geo. interest It S. Hagany, thus. retail Esq., dealers, respectable Wednesday retailer begoods sold to a the wife of another in citizen, his line, abill had of goods lady, amounting to e about the who the goods some months when the was to he refusto bill fifty died dollars, presented five lady the husband, ago, purchased and ed had ed the for the varithe defense, pay, purchase alleging H. of R. that Dupont, goods. he Esq. The never quoted counsel authorizous to that under circumd not be held liable. n tiff without counsel a Kstances of who authorities he appeared could show, the presented The plain bill his 's solemn corsame, there rested his rectness tries, made items, of the his produced and affirmation book of as original to the case, enthe decision of the Justice was witheld for further consideration. ie Excursion.-The excursion to New York ., the n; E. was a success reThursday Smith, last, Esq., under general management in of all P.T on 11, spects, the passengers numbering 520, all of whom with the exception of about eighty went 's from this city. There were only two or three in drawbacks in the management of the cars, for to which Mr. Smith was in no way responsible g The trip was made without accident to any to one, aud the enjoyment experienced was well IS worth the money. New York is a great city he and a day can be pleasantly and profitably d, sed at any time. We excursion nyear may as bconnected this next respects. there The best be equally joke hope successful the with in pas- all trip is told of a gentleman who became so beg wildered in Wall Street that it took three difbe ferent trains to enable him to return to this es arrived he make is up he had reached ee. city, without his and mind the when that he could Wilmington, not interposition of a friend who hap D, pened to be present he to William Linn brakeman, was killed on Friday id, on the Lehigh Valley Railroad, near Easton. n. while coupling cars. Ir. Colonel Devers is engaged in raising a regihis to the his ment Republican at Matamorns ostensibly support cause in Spain, but, it is believed ty, really to aid the Cubans. by The employes of the Pennsylvania railroad erat Mount Holly, N. J., have struck because fits th of the reduction of their working day to eight hours. vas The dying words of a Delaware woman wer. you marry again, remember only "Henry, takes if capful that a of sugar to sweeten a quar re of gooseberries. and has been the atThe papers. following It published going rounds ate the was last in the Ledger We know nothing about it in this our ch alias was convicted orHenry Washington, Young, Williams, locality in on Friday night, of the murde ire of Frank Haha who was murdered in Armory msquare for his money. of The Treasury Department, by the vey of bonds since to ning of over of the $12,000,000 the purchase begin money panic, has saved the Goy orernment interest amounting annually to abou eal $750,000 in gold. eal this A DEFALCATION NEW BRUNSWICK, Sept. ney in the New the exceeds half a Jersey h.-The State defalcation Bank, Brunswic million mdirectors have decided to of and th a defaulters, dollars. indefinitely. The Woodworth Appleton, suspen have escaped to Europe. the lady who the other day a Es. the Georgetown ancabbages live baby in in it, bought market, barrel found well-dressed, with a milk bott the and so protected the any cabbages had been is prevent in in which its mouth, the by arranged manne as its suffocation ur-


Article from Wilmington Daily Commercial, September 30, 1873

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New Castle. PROGRESS OF THE TASKER IMPROVEMENTS-ON MILL UNDER B0OF-SUSPENSION AT SHAW'S COTTON FACTORY-+ G. KNOWLES AND THE BULLOCK'S BON'S FAILURE, &c. [Correspondence of the Commercial. NEW CASTLE, Sept. 29. The improvements of Messrs. Morris Tasker & Co. go bravely on notwithstanding the present uncertainty in regard to money matters. One of their immense mills has already been suffi. ciently far advanced to be roofed and,yesterday, the slaters were bueily at work. The second large building of the same dimension will also be ready to roof in a very short time, and the foundation for a very large engine house is now being laid. In addition to this, about twenty-five of the three hundred new houses are in an advanced stage* of completion. This is all very satisfactory; but then comes a vague rumor that these gentlemen will be compelled to suspend operations for a time. But this we are inclined to doubt. Owing to the present stringency in monetary affairs, the cotton factory of Mr. J. G. Shaw has been closed. and all the hands discharged, with the exception of a very limited number, who are engaged about the building to see that things do not "run down at the heel." This is supposed to be in some degree the effect of the partial suspension of the Farmers' Bank. The Orphane Court met, yesterday, and, in consequence. a c'oud of Wilmington lawyers arrived in the 10.30 train. The long wharf is being rappidly demolished, and the timber disposed of to our citizens, large quanities of which can be seen deposited before their houses, especially on Market St. It is estimated that a half million of dollars was neccessary to construct this useless humbug, and it is a rather curious fact that all the expense and trouble will ultimately end insmoke. It is rumored that the failure of Bullock's Sons, of Philadelphia, wool dealers, will effect the new mills of Mr. Knowles, lately established in New Castle. We very much doubt the accuracey of this report, but if true, will be the second suspension caused in New Castle by the present panic. Ex Sheriff Harbert's new houses are furnished and will be ready for occupation in a very few days. Large quantities of lumber are lying at the Railroad wharf, awaiting shipment. The barge S. C, Marsdin, and schooner Somers, from Absecom, N. J, arrived, last evening, and are now being loaded with this freight. Last week a very large number of heavy castings were shipped to Philadelphia from the Tasker Iron Worke, mostly by water, but some being too heavy to be handled on the boats, were placed on trucks and sent per the P., W & B. and Del. R R. H. H. C.


Article from Wilmington Daily Commercial, October 3, 1873

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[We re-print the following from yesterday's Commercial.] # MR. SHAW'S FACTORY AT NEW CASTLE In the letter of our correspondent at New Castle, published in Tuesday's paper, an allusion was made to the interruption of work in the factory of Mr. James G. Shaw, in that town, and it was attributed to present stringency in money affairs, and the partial suspension of the Farmers' Bank. Mr. Shaw authorizes and desires us to say, which we are very happy to do, that the temporary suspension of work was in no respect due to either of these causes, but was merely on account of a few days delay in the arrival of certain material adopted to the use of his machinery. It has since been received, work is resumed, and the operations of the factory are proceeding as usual. We are glad to report these facts, for we know Mr. Shaw to be one of our most enterprising and energetic citizens, and we regret that any misstatement in regard to him should have been published. We have the best authority for saying that his affairs have not, at any time, been in a more prosperous and satisfactory condition.