Article Text
Bauk Suspensions
NEW YORK, Oct. 1--M The Farmers and Citizen's and Wil iamsburgh Banks of Williamsburgh, N. Y. have suspended.
Williamsburg Bank (Williamsburg, NY)
Episode Information
- Episode Type
- Suspension → Closure
- Start Date
- October 1, 1857
- Location
- Williamsburg, New York (40.714, -74.006)
- Registered Place
- Williamsburgh
- Bank Type
- state
Metadata
Notes
The articles mention the suspension of the Williamsburg Bank during the Panic of 1857; it is listed alongside the Farmers and Citizens Bank.
Events (1)
1.
October 1, 1857
Suspension
- Cause
- Macro News
- Cause Details
- Systemic financial panic of 1857 involving widespread bank failures and suspensions.
- Newspaper Excerpt
- The Farmers and Citizen's and Wil iamsburgh Banks of Williamsburgh, N. Y. have suspended.
- Source
- newspapers
Newspaper Articles (2)
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Article Text
LATEST NEWS
More Banks Breaking-Financial News from the East, &c., &c. LOUISVILLE, Oct. 1. A despatch to the Bulletin says, Exchange, Shelbyville, Lawrencebury, and Trenton Banks, Tennessee, have suspended. The run on Hunt & Co.. of this city ceased before they closed business, they are considered strong. Sr. LOUIS, Oct. 1. The Bank of Belleville, III., failed. Banking House of More, Halebush & Co., Quincy. III., suspended on Monday. Run on Flagg & Sauage, of same place, but they sustained themselves. LOUISVILLE, Oct. 1. Hutchins & Co., John Schmidt & Co., Bankers, suspended. Quite a heavy run on A. D. Hunt & Co., who thus farsustain them selves, and it is expected will meet their liabilities. Philadelphia, Oct. 1. White, Stevens & Co., and Lawrence, Stone & Co., who have a Branch House in Boston, suspended to-day. PITTSBURGH, Oct. 1. The Old Bank of Pittsburgh continues to pay specie on all its liabilities. COLUMBUS, Sept. 30. The Board of Control of the State Bank of Ohio, at a meeting held here to-day, unanimously adopted the following resolution : Resolved, That the branches of the State Bank of Ohio have the ability and will still continue specie payments, regardless of whatever course may be taken by the Banks of other States. DETROIT, October 1. The suspension of the Peninsular Bank causes intense extitement. The run on other Banks this morning is severe, principally by small bill holders. They redeem promptly and are to all appearances strong. State Fair commenced on Tuesday. NEW YORK, Oct. 1. The Farmers & Athens Bank of Long Island, and Williamsburgh, suspended to-day.The Illinois C. R. R. pays its cupons to-day. The Mil. & Miss. R. R. pay theirs on the 1st mortgage bonds, but defaults on its income. CHARLESTON, Oct. 1. Reported forgeries on Jno. Frazies & Co., are unfounded. The Presidents of our Banks held a meeting this morning, and resolved not to suspend. WASHINGTON, Oct. 1. Two million dollars worth of U.S. stocks came in this morning for redemption. PHILADEPHIA, Sept. 30-3 P. M. The banksare still pursuing an inharmonious course, thereby causing trouble and vexation to the business men. The Pennsylvania Bank refuses for the present to come into any arrangements with the banks, bearing that her largest depositors will remove their balances to other banks, creating large indebtedness to them which could not at once be settled withont difficulty. Arrangements are making to place her on a firm basis. The other banks are at variance, refusing to receive the certified checks of each other.— There is confusion in all the arrangements of parties having notes due while the funds are locked up. The people feel outraged at the want of system, and the necessity for a clearing house is becoming daily more important. BOSTON. Sept. 30-3 P. M. At the adjourned meeting of Bank Presidents to-day, it was decided to discount during the week, nearly three millions. This will ease the market and largely restore confidence. PITTSBURGH, Sept. 30-3 P. M. The Alleghany City Bank continues to pay specie on all its notes and deposits. HARTFORD, Sept. 29-3 P. M. The Hartford Banks have no idea of suspenking specie payment. They are stronger than they were last week.