7336. Merchants Bank (Louisville, KY)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
state
Start Date
July 26, 1893
Location
Louisville, Kentucky (38.254, -85.759)

Metadata

Model
gpt-5-mini
Short Digest
b1714ba3

Response Measures

Full suspension

Other: Reopening reported by telegram in September listing Merchants' Bank among banks permitted to reopen.

Description

Articles report a run and drain from country banks on July 26, 1893 that caused the Merchants' Bank of Louisville to suspend; a later telegram (reported Sep 6, 1893) lists the Merchants' bank of Louisville as permitted to reopen. Bank charter type not specified in the articles.

Events (3)

1. July 26, 1893 Run
Cause
Local Banks
Cause Details
Heavy withdrawals described as a run during the day combined with a drain from country banks.
Measures
Closed doors; suspension of payments followed the run.
Newspaper Excerpt
A run during the day, with a drain from the country banks, caused the suspension.
Source
newspapers
2. July 26, 1893 Suspension
Cause
Local Banks
Cause Details
Suspension triggered by the daytime run and drain of funds to country banks as reported in contemporaneous accounts.
Newspaper Excerpt
The Merchants' and Deposit banks were also forced to close their doors indefinitely.
Source
newspapers
3. September 6, 1893 Reopening
Newspaper Excerpt
The Merchants' bank of Louisville, Ky.; ... have been permitted to reopen their doors for business: ... the Merchants' bank of Louisville, Ky.;
Source
newspapers

Newspaper Articles (3)

Article from The Wilmington Daily Republican, July 26, 1893

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Article Text

More Louisville Bank Failures. DUISVILLE, July 26.-The Fourth National bank threw up the sponge yesterday afternoon after a hard fight. A run during the day, with a drain from the country banks, caused the suspension. President George Davis was seen just after the closing of the doors. "All the information we have to give out at this time," he said, "is that no one will lose a mill by our suspension." The Merchants' and Deposit banks were also forced to close their doors indefinitely.


Article from The Roanoke Times, July 27, 1893

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Article Text

More Louisville Bank Failures. LOUISVILLE, July 26.-The Fourth National bank threw up the sponge yesterday afternoon after a hard fight. A run during the day, with a drain from the country banks, caused the suspension. President George Davis was seen just after the closing of the doors. "All the information we have to give out at this time," he said, "is that no one will lose a mill by our suspension." The Merchants' and Deposit banks were also forced to close their doors indefinitely.


Article from The Star, September 6, 1893

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Article Text

# BANK RESUMPTIONS. Many Reported From Different Parts of the Country. A telegram from Washington says: The following national banks, which recently suspended payment, have been permitted to reopen their doors for business: The State national bank of Denver, Col.; the Louisville city national bank, of Louisville, Ky.; the Merchants' bank of Louisville; Ky.; the First national bank of Ashland, Wis., and the First national bank of Platteville, Wis.; the German national bank of Denver, Col.; the First national bank of Canon City, Col. At Minneapolis, the Bank of New England, which suspended about a month ago, has resumed business. At San Francisco the People's home savings bank, which closed its doors June 23, opened for business. A statement issued by the national banks of Kansas City shows that since the height of the financial flurry, which was reached on June 19, the deposits have increased $2,000,000. The First national bank of Dubuque, Ia.; the First National bank of Grand Rapids, Col. The American national bank of Omaha, Neb.; the American national bank of Nashville, Tenn. The First national bank of Mankato, the National Citizens' bank of Mankota the Mankato national bank, all of Mankato, Minn.