Mechanics Bank - Louisville, KY

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: July 1, 1870*
Location: Louisville, Kentucky (38.254, -85.759)

Metadata

Model: gpt-5-mini
Short Digest: 8523c94b

Response Measures

None

Description

Article reports Mechanics Bank (Louisville, KY) had closed in July (prior year) and stockholders filed suit April 19, 1871 asking a receiver be appointed because the cashier Henry Pope failed to distribute $72,000. This indicates a prior suspension/closure tied to bank-specific malfeasance and a receivership sought. I infer the July closing was July 1870 (article dated 1871-04-19).

Events (3)

1. July 1, 1870* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Cashier Henry Pope failed to distribute $72,000 to stockholders (implying embezzlement/mismanagement).
Newspaper Excerpt: The bank closed last July, with $102,000 assets, and the cashier failed to distribute $72,000 among the stockholders, as directed.
Source: newspapers

2. April 19, 1871 Other

Newspaper Excerpt: The stockholders of the Mechanics bank in this city entered a suit, yesterday, against Henry Pope, cashier. ... The plaintiffs ask that a receiver be appointed, and the accounts of the bank be regularly examined and closed. (LOUISVILLE, Ky., April 19.)
Source: newspapers

3. April 19, 1871 Receivership

Newspaper Excerpt: The plaintiffs ask that a receiver be appointed, and the accounts of the bank be regularly examined and closed.
Source: newspapers

Newspaper Articles (1)

1. April 20, 1871 Worcester Daily Spy Worcester, MA

Article from Worcester Daily Spy, April 20, 1871

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Article Text

privileges, with similar restrictions relative to shad, salmon and shell fish in any American waters north of the thirty-ninth parallel of latitude. Pier 44, North river, occupied by the Albany and Troy steamboat company, was destroyed by last night. The flames spread to the schoonowned Frank er fire Providence, by Brown, John and canal boats J. C. V. Schermerhorn and S. Pierce, all of which were considerably damaged. boats Several were slightly other damaged. canal The and canal sailing boat, vessels Pierce, drifted against the ocean steamer City of Brussels, of the Inman line, but the latter was not much damaged, owing to the prompt arrival of the fire tug John Fuller, which soon extinguished the flames. Merchandise valued at $8000 upon the pier was destroyed. Several adjoining buildings caught fire but none were entirely destroyed. Total loss $40,000; mostly insured. Seven men, four whites and three blacks, were recently discovered on the shore of Deep creek, Eastern Virginia, drowned. All were tied together, and each had his hands tied behind his back. It is reported that the American Bible society has named President Woolsey, of Yale college, as their choice for arbitrator in the Washburn will case. Governors Hoffman of New York and Claflin of Massachusetts have accepted prominent parts in the ceremony of the inauguration of the statue of Professor Morse in Central park, which will be unveiled by Gov. Claflin. The oration will be delivered by William Cullen Bryant. The recent trouble at Rockville Centre, L. I., between Rev. Mr. Kelsev of the Methodist church and his congregation, culminated in a riot yesterday. The sheriff is arresting fifty of the rioters this morning. The possession of the parsonage is the cause of the present trouble. FROM WASHINGTON. WASHINGTON, April 19.-The joint high commission's arrangement of the fisheries question is said to be somewhat as follows: The United States fishermen are to have the privilege of fishing anywhere on the coasts of t he Dominion and of landing to procure supplies and to cure their fish, and the Dominion fishermen are to enjoy the same privileges on the coasts of the United States, provided that no shad or salmon are to be caught by either. There is to be a board of arbitration, which is to consist of a member appointed by the British government, a member appointed by the government of the United States, and an umpire appointed by the emperor of Austria. This board is to decide whether either nation is more benefited under this reciprocal arrangement than the other, and if so, the pecuniary value thereof, which value is to be paid to the other nation. A proviso renders it necessary that this treaty be ratified by the senate of the United States and by the parliament of [tne Dominion, and it is understood that whatever sum the United States may have to pay, will go in the treasury of the Dominion.) VARIOUS MATTERS. LOUISVILLE, Ky., April 19.-The stockholders of the Mechanics bank in this city entered a suit, yesterday, against Henry Pope, cashier. The bank closed last July, with $102,000 assets, and the cashier failed to distribute $72,000 among the stockholders, as directed. The plaintiffs ask that a receiver be appointed, and the accounts of the bank be regularly examined and closed. POTTSVILLE, Pa., April 18.-The first defend ers are celebrating, this evening, the anniversary of their arrival at Washington, the 18th of April, 1861. ST. LOUIS, April 18.-A. P. Boody, son of H. P. Boody, of New York, and treasurer of the Rockford, Rock Island and St. Louis railroad, died at Sterling, Ill., yesterday morning, of typhoid fever. A suit for over $20,000 has been brought against the steamer Great Republic, of the New Orleans packet line, for supplies furnished during the past year.