7808. First National Bank (Bay City, MI)

View Charter #410 on SPMC

Bank Information

Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
410
Charter Number
410
Start Date
January 2, 1868
Location
Bay City, Michigan (43.594, -83.889)

Metadata

Model
gpt-5-mini
Short Digest
7a1924463fe87ae5

Response Measures

None

Description

Contemporary articles (Jan 1868) report the First National Bank of Bay City failed or suspended on/around Jan 2, 1868 with deposits ~$75k–$90k and liabilities exceeding assets; a later report (Feb 1, 1868) states the bank resumes business. There is no mention of a depositor run in the texts provided, so classify as a suspension followed by reopening. Some reports use both 'failed' and 'suspended'—I treat this as a suspension/temporary closure that ended with resumption. No cause for suspension is given in the articles.

Events (5)
1. May 2, 1864 Chartered
Source
historical_nic
2. January 2, 1868 Suspension
Cause Details
Articles report failure/suspension but do not specify cause (no rumors, bank-specific scandal, correspondent failure, or local shock given).
Newspaper Excerpt
The First National Bank of Bay City, Michigan, has failed, with deposits amounting to $75,000.
Source
newspapers
3. January 10, 1868 Other
Newspaper Excerpt
The liabilities of the recently suspended First National bank of Bay City, Michigan, are over one hundred thousand dollars more than its assets. It owes depositors ninety thousand dollars.
Source
newspapers
4. February 1, 1868 Reopening
Newspaper Excerpt
The First National Bank of Bay City, Mich., resumes business to-day.
Source
newspapers
5. November 8, 1882 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (5)
1. January 3, 1868 The New York Herald New York, NY
Article from The New York Herald, January 3, 1868

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Article Text

EUROPE. The news report by the Atlantic cable is dated yesterday evening, January 2. 1 Napoleon received the foreign Ministers at the Tuileries on New Year's Day, when the most friendly and pious assurances and aspirations were uttered by this Majesty. Baron Marochetti, the sculptor, is dead. The bonds of the Panama Railroad Company were placed on the London money market. Austria forbids recruitments for the Papal army in the empire. The residence of Mr. Charles Mathew, brother of Father Mathew, mear Cork, Ireland, was attacked by Fenians. An armed party concealed in the house met the marauders with a galling fire and routed them, wounding some of the men. I Dr. Livingatone, the African traveller, is reported alive and well in Africa. Our European files by the Cuba furnish interesting mail details of our cable despatches to the 21st of December. MISCELLANEOUS. Our special telegrams via the Cuba cable contain further news of interest from Mexico. General Diaz Thad been ordered to take the field in Yucatan. Three armed schooners of the national government were blockading Sisal. Santa Anna is charged with setting the rebellion on foot. Active measures will be used to quell it. ) The steamer Morro Castle, Captain Adams, from Havana December 28, arrived at this port yesterday. Among her passengers is Senor Pablo Pujol, Minister of the Treasury in St. Domingo, now on a special mission to the United States. The news by the Morro Castle has been anticipated by our special telegrams over the Cuba cable. The Citizens' Association have written a letter to Comptroller Connolly, calling his attention to what the Association decl ares to be a monstrous financial system by which three or four hundred thousand dollars are Innually lost to the city and county. During the last ten days of the old year there were 580 deaths in New York and 210 in Brooklyn. There were during the year 23,710 deaths in New York and 8,325 In Brooklyn. Patrick Grennan, a patrolman of the Seventeenth precinct, is now in Essex street prison, on a charge of assaulting three citizens and mortally wounding another at various hours on Wednesday last. No explanation of his strange conduct is given except that the unfortunate policeman must be insane. The most severely wounded of the citizens made a statement yesterday that at the time of the assault upon him the peliceman seemed to be drunk. In the Chamber of Commerce yesterday a communication was received from the Boston Board of Trade inviting the appointment of delegates to the commercial convention to be held in that city on the 5th of February. Delegates were accordingly appointed. The report of the committee in Secretary Stanton's case is said to have been completed. The negroes in Washington celebrated the Emancipation anniversary by a large meeting in the Presoyterian church on Fifteenth street. Speeches were made by Senator Pomeroy, General Howard, General Butler and Professor Wilson. Governor Chamberlain, of Maine, was inaugurated yesterday. In his address he favors the paying of the obligations incurred in our national debt fairly and squarely, but not all in one day or one generation. He thinks it would be better to let those who come after and reap the benefits bear some of the taxes. The new State officers were sworn in at Albany yesterday. D. Weller, Jr., was appointed Deputy Secretary of State; S. H. Swett, Jr., Deputy State Engineer, Oscar Packard Deputy State Treasurerand Pailip Phelps Deputy Comptrolier. Thomas Walsh, a boy of nineteen, was hanged at Newark, N. J., yesterday the murder of Patrick Tormay, on the night of the Fourth of July last. He met his death boldly, having taken a cool view of the gallows the day before while he smoked a cigar. Not a movement was noticeable in the body when the trap fell, and he died apparently without a struggle. One of the temporarily appointed sheriff's assistants fainted at the sight of the hanging man. The firm of Brown & Gillespie, wholesale merchants of Hamilton, C. W., suspanded yesterday. The term of office of Governor Pierpoint, of Virginia, expired on the 1st inst; but AS no provision has been made in the way of a successor, he continues to hold the position. A guard in charge of the goods saved from the wreck of the steamer Frances at New Inlet, N. C., was attacked by negroes recently, and a portion of the goods was carried off. The First National Bank of Bay City, Michigan, has failed, with deposits amounting to $75,000. The receipts of beef cattle yesterday were 37 head at the Hudson City yards and 500 at the National Drove Yards. The demand was tolerably active at prices ranging from 14c. to 18c. for common to good. The swine market was active and excited, and prices were 1/20. per 1b. higher. common to prime selling at 71/20. a 8c. per 1b. The receipts were 2,550 head-1,750 at Communipaw and 800 at Fortieth street.

2. January 7, 1868 The Daily Gate City Keokuk, IA
Article from The Daily Gate City, January 7, 1868

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Article Text

The Daily Gate City. PERSONAL 270.01A -Jay Cooke & Co. deny that Senator Sherman. or any other public functionary in or out of Congress, has BD# eyer bashad any direct or indirect interest in or connection with their firm. -D'Arcy McGee, having been invited to deliver atemparance at Montreal. replied that hedid not yet see his way to spenking publicly on this question. He wanted to give himself a fair trial. -Scandal mongers of Paris assert that the Princess Clotilde is anxious for a separation from her busband, Prince Napoleon. Hislicfidelities have lately been so flagrant us to drive her to despair. -Gen. Willard Warner, an influential member of the last Ohio State Senate, and prominently mentioned for Governor of Unio, having now settled in Alabama, is Republican candidate for Congress. -When Boncicault agreed to dramatize Rip Van Winkle for Joseph Jefferson, the terms were five per eent. upon the gross receipts of the latter, 80 long as the piece was maintained upon the stage. Jefferson, at the time he commenced his present engagement at Cincinnati, had paid to the author the snug sum of thirteen thousand dollars, when he wrote to Bonciciult, proposing to buy the piece for the sum of $5,000. Boy cicult consented, and the money has been forwarded. -Dr. H. H. Wilkins, of Rochester, Minn., concluded a "big spree" by suicide, Dee. 20. -General Sherdian was at a party which Governor Fenton gave last Thursday evening. -Senator and General Sherman have bought eleven acres of land in Washington, and paid $18,000 for them. Brigham Young conducts his cannubial affairs on the principle of "large business and small prophets. -John O'Neill, of Nashville, Tenn., of Canada raid fame, is the newly elected President of the United Femans. -The Cincinnati friends of Bishop Clark, of the Methodist Church, have presented him with $2,300 as token of regard. -Gov. Marshall and James H. Donaison. of St. Paul, are preparing to operate a farm of 1,000 acres, in Mower county -Gen. Thomas W. Sherman, of Port Roys al fame, succeeds Meade in command at the East headquarters, Newport. R. I. -Dr Charles Jewett considers the growing of hops utterly inconsistent with total ab stinence principles. How about corn? -The Philadelphia Age Johnson oracle) notifies General Schofield that his turn will come next-may be before the end of Janu. # -Dr. Daniel T. Boynton, of Knoxville, has taken the position of Private Secretary to Gov. Brownlow, and is now the only officer on the staff. -Fernando Wood pays $1,000 a month for his house in Washington. -Grover will oper a season of opera in Philadelphia Monday evening next. -Rev. C. A. Staples, Unitarian, of Milwaukee, has resigned his pastoral charge. -A New York paper says the most brilliant thing about Drokens' readings is his diamond ring. -Stanley Matthews claimsa fee of $30,000 for settling a claim of the city of Cincinnati, at one-third the amount sned, he having contracted to do the business at fifteen per cent. of what might be received. -Organist G. W. Morgan has had a thief arrested for participating in the contents of bis pockets while riding on a Third Avenue car, NewYork. -Shannon, President of the New York Board of Aldermen. at the end of his official year, was the blushing recipient of a silver service valued at $4,500. -The First National bank of Bay City, Michigan, failed January 2d. Its affairs are reported to be in rather a had condition, The deposits amount to about $75,000. -The well-known firm of Brown & Gillespie, wholesale merchants, at Hamilton, Ontario, has suspended. The house is one of the largest in the West of Canada, and the disaster caused much excitement. -The Massachusetts Legislature assembled January 1. Geo. O. Barstow, of Somerville, was chosen President of the Senate, and Harvey Jewell, of Boston, Speaker of the House. -Amasa Walker is said to have more orders for magazine articles on political economy and finance than be can attend to. Ten years ago he could hardly get a publisher. -Harlow W. Chittenden, Superintendent of the New York Central Railroad, had a SE= vere fall on the icy pavement, in Syracuse, last Friday morning, and was taken insensible. -Elias Howe, father of the sewing machine inventor, and brother of the inventor of the Howe truss bridge, died at his residence in Cambridg port, Massachusetts, on Saturday, aged 76. -Sheridan is much fatter than he was in the war times, but is as joily and rollicking as ever. It would be no news to say that he is a strong Radical, and we may add that be expresses the most assured belief in the triumph of Radical principles. The man who attempts to obstruct the advancing tide." said he, the other day, in conversation, # might as well get ready his little gravestone." Nor does he scruple to avow himself a Fenian sympathizer, though his sympathy, as be explains it, is mixed up with a philosophy little dreamed of by the Fenians.

3. January 9, 1868 Marshall County Republican Plymouth, IN
Article from Marshall County Republican, January 9, 1868

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nope to deceive people belleving that the Democratic party had acquired a love for those principles which General Hancock and his comrades fought to maintain and establish. News of the Day. General Canby has called the Constitutional Convention of North Carolina to meet on the 14th inst. General T. W. Sherman, of the 5th Artillery, has been assigned to the command of the Eastern District, vice Meade, transferred. The first National Bank at Bay City, Michigane failed last Thursday. Its affairs are reported to be in a rather bad condition. Dr. Livingstone, the great African explorer, has at last been heard from. He is alive and well. The Massachusetts Legislature assembled at Boston last Thursday. George Bristow was chosen President of the Senate, and Harvey Jewell Speaker of the

4. January 10, 1868 Public Ledger Memphis, TN
Article from Public Ledger, January 10, 1868

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The banking house of H. Markell & Co., at Dubuque, closed its doors Tuesday morning. Liabilities, sixty. five thousand dollårs, with assets which may sell for ten to fifteen thousand dollars. The liabilities of the recently suspended First National bank of Bay City, Michigan, are over one hundred thousand dollars more than its assets. It owes depositors ninety thousand dollars.

5. February 1, 1868 New-York Tribune New York, NY
Article from New-York Tribune, February 1, 1868

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Article Text

LATEST GENERAL NEWS. [By Telegraph.| Gov. Geary hasapproved the Connelsville bill. Revenue officers have seized another illicit distillery in Baltimore. Lamps have been banished from the Little Miami Railroad cars, and candles are to be used. The First National Bank of Bay City, Mich., resumes business to-day. The California steamships, due here to-day, will bring $1,302,995. Aliaska advices to the 25th of January, represent all well. The Italian bark Vittoria went ashore at Point Wilson, but floated off with the flood-tide. Marshall White, a thief, while attempting to break jail in Monmouth, Ill., on Thursday night, was shot dead by the Sheriff's Deputy. In the Cole-Hiscock case, in Albany, yesterday, counsel for the defense not being ready. an adjournment to this morning was granted. Twenty-seven prominent merchants and busiDess men of St. Louis left this city last evening for Boston, to attend the Commercial Convention there on the 5th. John Mullally, editor of The Macon Recorder, delivered an address at Augusta, Ga., last night, upon the condition of the country. Mayor Thomas of St. Louis has vetoed the ordinance, recently adopted by the City Council, repealing a part of the Sunday laws. The boiler in a saw-mill near Dexter, Michigan, exploded yesterday. Two brothers named Arnold were killed, and two other men were injured. The Baltimore and Ohio, Marietta and Cincinnati, and Indianapolis, Cincinnati, and Lafayette Railroads have become one, 80 far as working arrangements are concerned. The case of Dun, Wiman & Co. agt. Bradstreet & Son, for book piracy, was argued in the Court of Chancery, in Toronto, yesterday, and resulted in a decree for the plaintiff, carrying costs. A meeting of railroad, steamboat and hotel men and citizens generally is to be held in St. Louis today to secure, if possible, the holding of the National Democratic Convention in that city. Many citizens of Quebee have petitioned Patliament to suspend the corporation. and place the city's affairs in the hands of Commissioners, to be appointed by the Government. Five ruffians called Mr. W. L. Porter from his house, near the Memphis (Tenn) Fair grounds, on Thursday night, and fired upon him, missing. Hereturned fire, but was Instantly shot through the right arm. He retreated into his house, and the follows fled Judge Devens of Worcester, sentenced Wm. H. Davis and Edward Gee, yesterday, on four Indictments for burglary, to 17 years in the State Prison, and for robbery on the high way to the State Prison for life. The prisoners are about 21 years of age. The stock of the Indiana and Illinois Central Railroad has been purchased by citizens who live on the linear the track. and, having elected Mr. John K Warren of Decatur President, they will move the office to that city as soon as possible. The Company's Assets are $1,000,000. The road 18 to be built at an early day. The schooner Lone Star, for Hilton Head, with 10 passengers and three deck hands, sailed from Bavannah on Tuesday, and was blown out to BCR, where she was overhau led by the bark Eureka from Antwerp. Three persons were saved, In a state of such exhaustion that they cannot tell what became of the others. The passengers were all negroos.