Bank of Clarendon (Fayetteville, NC)

Episode Information

Episode UID
6978021990694
Episode Type
Suspension โ†’ Reopening
Bank Type
state
Bank ID
697802199 hash
Start Date
October 27, 1857
Location
Fayetteville, North Carolina (35.053, -78.878)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
5162cb660c6c9456

Response Measures

None

Description

Only suspensions are reported in these clips during the 1857 crisis; no reopening or receivership info is provided.

Events (1)

1. October 27, 1857 Suspension
Cause
Macro News
Cause Details
Suspension amid the wider 1857 financial crisis originating in New York, which drove banks in NC to suspend specie payments.
Newspaper Excerpt
The Bank of Clarendon at Fayetteville, and the branch Bank of Cape Fear at the same place, have suspended specie payment.
Source
newspapers

Newspaper Articles (2)

Article from Weekly National Intelligencer, October 17, 1857

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Article Text

BANK SUSPENSIONS AT THE SOUTH. VIRGINIA.-The "Bank of Virginia" suspended specie payments yesterday. It was the last to yield in the present crisis, though holding out only about twenty-four hours longer than the other banks of this city. We may now say that all the banks in Virginia have suspended specie payments.-Richmone Enquirer of Thursday. NORTH CAROLINA.-The confirmation of the deplorable financial affairs in New York, where the main resources of the banks and merchants of this place are located and now locked up, has been the means of driving three of the banks of the town of Wilmington into a suspension of specie payments. The branch of the Bank of the State, located here, yet stands unsuspended, awaiting advices, we presume, from the mother bank at Raleigh. All the rest-the Bank of Wilmington, the Bank of Cape Fear, and the Commercial Bank of Wilmington-suspended this morning. We have a report that the Bank of Clarendon, at Fayetteville, suspended yesterday. We do not give this information as reliable. But we think, from the present appearance of things, that there will be a general suspension of the banks throughout the State.- Wilmington Journal of Thursday.


Article from The Western Democrat, October 27, 1857

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Article Text

The Bank of Clarendon at Fayetteville, and the branch Bank of Cape Fear at the same place, have suspended specie payment.