7315. John Schmidt (Louisville, KY)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
private
Start Date
November 3, 1857
Location
Louisville, Kentucky (38.254, -85.759)

Metadata

Model
gpt-5-mini
Short Digest
8606f0ef

Response Measures

Accommodated withdrawals, Public signal of financial health, Full suspension

Other: Bank appears to be a private German banker operating under his personal name; suspended temporarily and used public notices to signal funds availability.

Description

Multiple contemporaneous newspaper reprints (Nov–Dec 1857) report that John Schmidt, a German private banker in Louisville, suffered a run and was compelled to suspend payments but did not close; he posted notices about having funds, alternated notices as funds were depleted and replenished, and depositors returned. No explicit cause for the run is given in the items; no receivership or permanent closure is mentioned — bank reopened/returned to funds.

Events (3)

1. November 3, 1857 Run
Cause Details
Article does not state a specific trigger for the withdrawals; simply reports a run occurred.
Measures
Posted public notices (in 'high Dutch') announcing he would have funds soon; later posted notice stating $15,000 on hand; repeated notices as funds were drawn and later replenished.
Newspaper Excerpt
John Schmidt is a German banker in Louisville. He suffered a run, was compelled to suspend, but did not close his doors.
Source
newspapers
2. November 3, 1857 Suspension
Cause Details
Suspension was a direct consequence of heavy withdrawals (run); articles do not indicate government action or voluntary liquidation.
Newspaper Excerpt
He suffered a run, was compelled to suspend, but did not close his doors.
Source
newspapers
3. November 5, 1857 Other
Newspaper Excerpt
At last accounts there was no run on John Schmidt, and his depositors had all come back to him.
Source
newspapers

Newspaper Articles (5)

Article from Worcester Daily Spy, November 3, 1857

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Article Text

JOHN SCHMIDT IN FUNDS.-John Schmidt is a German banker in Louisville. He suffered a run, was compelled to suspend, but did not close his doors. He simply stuck up a notice in high Dutch that he was going to have some money pretty soon. Two days after he took down the notice and put up another stating that he had $15,000 on hand. There was another run, and the $15,000 was soon gone. John put up the old notice again, and next day was again in funds, when, in accordance with his old plan, he changed the notice. At last accounts there was no run on John Schmidt, and his depositors had all come back to him. That was straight-forward Dutch pluck and honesty.-Buffalo Commercial Adveriiser.


Article from The American, November 4, 1857

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Article Text

Gen. Pillow speaks feelingly of the great and patriotic statesman who was [in 1846 Chief Magestrate of the nation, this some time law partner, who had made him a major general: the same who, early in the war, sent for me, and in the kindest and most beseeching manner solicited my personal sympathy as well as prefessional aid in conquering a peace, promising me his entire confidence and suuport; the same who, before I, had reached Mexico, endeavored, first, to appoint a lieutenant general to supersede me and, failing in that, next thought of placing me under the same party, appointed a major-general, (and of course) my junior; the same who, it turns out, appointed Gen. Pillow a spy on the conduct of Mr. Trist and myself; and the same great and patriotic statesman who, having failed in nearly every promise he had made me, finally, when the war had been ended, released from arrest three officers who had been engagedi in a conspiracy againstm restored them, with honor, to duty; superseded me in the command of the army in Mexico and ordered the three conspirators and myself equally before gaind court of inquiry In a postscript General S. notices the fact that General Pillow had quoted, to sustain himself, an extract from a statement of General Quitman, and says: " With that quotation he (P.) suddenly stops, being, no doubt, appalled with the following sentence in the same statement, in which General Quitman continues: After some pause [in the council] General Pillow gave his opinion in favor of waiting the arrival of General Pierce, and expressed, in detail, his concurrence with the views of the General Chief on the propriety of raising and applying the money as proposed, pledging his influence as an officer and a citizen to sustain the measure!' After this exhibition it probably will not be thought important by anybody whether General Pillow has expressed any opinion at all, or a contrariety of opinions, on any given subject whatever." To add anything to this, would only be slaying the slain; in mercy we refrain. THE NORTHERN CENTRAL RAILBOAD.-The Sunbury American states that the work on the unfinished portion of this road, between Sunbury and Treverton bridge, is progressing as rapidly asever, notwithstanding the financial troubles which have stopped almost every other improvement of the kind. The whole line, excepting one light section, is in the hands of responsible contractors, who will push forward the grading of the road, much of which is heavy work, as fast as the nature of the work will permit. It is the intention of the company to complete the road if possible by the first of July next. A DISCOVERY.-M. Carteron, a French Chemist, has invented a fire-proof paint from a new salt discovered by him. An experiment has been made at Neuilly, where a small theatre was built of wood which had had this salt applied to it. The boxes on the inside and the scenery had also been painted with it. In order to render the experiment more conclusive, the wood was sprinkled over with spirits of turpentine. A light was applied, and the whole place was soon in a blaze, and burnt furiously, but when the flames had gone out, it was found that not a single part to which the invention had been applied was in the slightest way injured. Montaigne offers the following whimsical consolation to those afflicted with gout, rheumatism, gravel, &c. "These," he says, "are symptoms of a long life, just as heat, cold, rain, and hail are attendants on every long journey." Rather a queer deduction of the French philosopher. WANTED.-By a maiden lady, a local habitation and name." The real estate she is not particular about, so that the title is good. The name she wishes to hand down to posterity.' In Ischna, Cattaraugus county, N. Y., there is a large family named Farewell, who, it said, hav not quarrelled for many years. Not long since there was a school in their district composed of 26 scholars, all cousins, and taught by an aunt to all the children. Great district, that. The citizens of Piqua, Ohio, held a meeting on Friday last, tarred and feathered two blacks, and ordered all the free negroes in the place to leave forthwith. A CERTIFICATE.-One of the certificates of death, written by a "physician of large practice," received at the City Inspector's Office, New York, reads as follows: " Mrs. Karolyne Johnson's dawther aged five munths and ate days died with defishensy of life to-day under mi attendance." Gen Nye saysa good thing now and then. When Mayor Wood nominated Simeon Draper to fill the vacancy in the police commission the other day, the General turned to the Mayor and said, "I am glad to see, sir, that you have lucid intervals MISSIONARIES FOR MICRONESIA.-The ship Eliza and Ella, which cleared yesterday for Honolulu, takes out as passeagers the Rev. E. P. Roberts and wife, missionaries to Micronesia. She that marries a man because he is a "good match," must not be surprised if he turns out a Lucifer." The ladies of the present day may, in one sense, be compared to the lilies of the field." They "toll not, neither do they spin, yet Solomon in all his glory was not arrayed like one of these." So says the Providence Post Sonny, I don't see anything growing about here. What does your father raise on this land pm Wall, I dunow, he raises hackmatack, hoptoads, grass-hoppers, tumble-bugs, and some other gar'n weg'tables. Yesterday he raised a doublebreasted pig-pen right under the window, and mother raised Cain." JOHN SCHMIDT IN FUNDS.-John Schmidt is a German Banker in Louisville. He suffered a run, was compelled to suspend, but did not close his doors. He simply stuck up a notice in high Dutch


Article from Evening Star, November 6, 1857

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Article Text

JOHN SCHMIDT IN FUNDS -John Schmidt is a German Banker in Louisville. He suffered a run, was compelled to suspend, but did not close his doors. He simply stuck up a notice in high Dutch that he was going to have some money pretty soon. Two days after, be took down the notice and put up another, stating that he had $15.000 on hand. There was another run, and the $15,000 was soon gone. John put up the old notice again, and next day again in funds, when, in accordance with his old plan, he changed the notice. At last accounts there was notrun on John Schmidt, and his depositors had all come back to him.


Article from Oroville Daily Butte Record, December 5, 1857

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Article Text

Droville Daily Butte Record SATURDAY MORNING, DEC. 5TH, 1857. DUTCH BANKING -John Schmidt is n German banker in Lonisville. He suffered a run, was obliged to suspend but did not close his doors He simply stuck up a notice in high Dutch that he WHN going to have some money pretty soon. The day after he took down the notice. and put another stating that he had $15.000 on hand.--There was another run and the $15.000 was soon gone John put up the old notice again, and next day was again in funds, when, in accordance W th his old plan, he changed the notice. At last accounts there was no run on John Schmidt, and his depositers all come back to him. That was straight-forward Dutch pluck and honesty.


Article from Mariposa Democrat, December 10, 1857

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Article Text

AN HONEST BANKER-John Schmidt is a German banker in Louisville. He suffered a run, was obliged to suspend, but did not close this doors. He simply stuck up a notice in high Dutch that he was going to have some money pretty soon. Two days after, he took down the notice, and put up another, stating that he had $15,000 on hand. There was another run, and the $15,000 was soon gone. John put up the old notice again, and next day was again in funds, when, in accordance with his old plan, he changed the notice. At last accounts, there was no run on John, and his depositors had all come back to him. That was straightforward Dutch pluck and honesty.