8341. Citizens Bank (Baltimore, MD)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 15, 1844
Location
Baltimore, Maryland (39.290, -76.612)

Metadata

Model
gpt-5-mini
Short Digest
d033ef92

Response Measures

None

Description

Two contemporaneous Tribune items (Mar and May 1844) state the Citizens' Bank of Baltimore is now in the course of winding up / in course of liquidation and declaring dividends on capital stock. No run or depositor panic is described; this is a voluntary liquidation/closure.

Events (3)

1. March 15, 1844 Suspension
Cause
Voluntary Liquidation
Cause Details
Bank is described as in the course of winding up (liquidation) and declaring dividends to stockholders; indicates a voluntary winding up/closure rather than a run or regulator closure.
Newspaper Excerpt
The Citizens' Bank of Baltimore, now in the course of winding up, has declared a dividend of $5 on the capital stock
Source
newspapers
2. May 30, 1844 Suspension
Cause
Voluntary Liquidation
Cause Details
Confirmed in May article as being in course of liquidation and making a dividend on capital stock; indicates ongoing winding up and final closure.
Newspaper Excerpt
The Citizens' Bank of Baltimore, (now in course its of liquidation.) have made a dividend of 83 per share of capital stock.
Source
newspapers
3. * Other
Newspaper Excerpt
references to dividends being paid during winding up and liquidation in the press indicate final termination of operations (receivership/assignees not explicitly named).
Source
newspapers

Newspaper Articles (2)

Article from New-York Daily Tribune, March 16, 1844

Click image to open full size in new tab

Article Text

Public Stock Exchange-March 15. cash 98 38 100 do Nor. & Wor. R 2,000 Ohio 6s, 60 do do b3 103 25 38: 1.000 K'y 6s do do 25 cash 103 do b30 39 3,000 cash 162. do 50 do Harlem R b3 581 1,000 do do b30 421 100 b3 581 10,000 Illinois 6s, 70 do 50 do 33 421 cash 581 1,000 do do b45421 do 50 bnw 581 5,000 do $60.38 do 50 do 1.000 Ind. $ bond cash 58: cash 381 do do 50 de nw 59 1 000 do 50 do snw 591 100 shrs Farmers' Ln. Mon 381 do bnw 39 do 50 do 50 do cash 5% do do 50 do 25 do 38; cash 597 do do 50 do nw 591 25 do Monday 39 do 100 do s3.59 50 do Vicksburg B. cash al do 50 do cash 8: 150 do do saw 39t do 150 do b3 3: 50 do do $3 591 do 100 do cash 61 b30 36: 25 do Canton Co do b15 364 25 do 125 do do cash 60t do 200 do do cash 351 DW 61 50 do do 25 do b30761 snw 60; 25 do LIRR do b30 77 50 do 25 do do Mond 601 b6m 62 10 do Mohawk Commercial and Money Matters. FRIDAY, P.M. There was not much spirit in the market, excepting in Harlem, in which the shorts are decidedly in a bad way. Within foar or five days this stock has gone up from 531 to 63, at which latter price it closed firmly to-day. It now looks very much as if there were a corner in it. Exchanges continue very dull. Sterling is 71 a S; Francs 321. The Hartford and New-Haven Railroad Company have declared a dividend of $2 on each share of the original stock. including the distribution stock-being a part of the net profits for the last six months-payable on and after the 25th inst. The Citizens' Bank of Baltimore, now in the course of winding up, has declared a dividend of $5 on the capital stock The Cleveland Herald says that the notes of the Canal Bank of Lake Erie are at par, and so received by the different brokers of that city. The receivers are paying in full all bills presented for dividends, with interest to the 1st of March. The stock of the State of Maryland, which about two weeks ago stood at 82 per cent. in Baltimore, receded as the prospect diminished of the passage of an act for completing the canal, to 77 per cent.; and since the adjournment of the State Legislature, without having passed any bill for that purpose, or for one or two other measures of much importance to the credit of the State, has gone down to 61. At the Stock Board on Thursday, $2000 Maryland 6s sold at 66, and $3150 do at 65a. The feeling is better in regard to the stock, and the tendency IS upward. There were also sold 70 shares of Baltimore and Ohio Railroad stock at 45, and 1600 of the City 6 per cent. of the Railroad at 1061; 1600 Baltimore 6s sold at 1061, and 48 shares Franklin Bank at 63. Amount of receipts of the month of February over the Central Railroad, Michigan, were as follows: For passengers $2,311 88 freight 7,895 31 old iron 160 00 $10,367 89 Corresponding month in 1813 2,778 92 Excess $7,588.97 or three hundred per cent. This beats the Reading Road. A bill has passed both Houses of the Michigan Legislature, appropriating 61,000 acres acres of land for the completion of the Central Railroad to Kalamazoo. and $75, 000 out of the proceeds of the road for the purchase of iron for the same. The bill now only waits for the signature of the Governor to become a law.


Article from New-York Daily Tribune, May 30, 1844

Click image to open full size in new tab

Article Text

Commercial and Money Matters. or For Commercial and Money Matters. see Last Page. WEDNESDAY, P. There was a reaction to-day in some Stocks, and an advance in others. After the late rapid rise, n decline may naturally be looked for: but such is the plentifulness of money and the eagerness of speculators, that another rise will no doubt follow the slight falling off. Sterling is 9 premium for good Bills, and the best drawers ask 9%4: Franes 5.26% Money is still more abundant, and lenders are is obliged to go into the street to find paper. The asking rate 5 per cent., but loans are made on good stocks and the best paper discounted at a lower figure The Mechanics' Banking Association have this day declared a dividend of 31/2 per cent. for the last six months, payable on the 7th of June. The Howard Insurance Company have declared a dividend of 8 per cent., payable on the 4th of June. The Citizens' Bank of Baltimore, (now in course its of liquidation.) have made a dividend of 83 per share of capital stock. The Neptune Insurance Company of Baltimore have declared a farther dividend of $8 per share on its capital stock. Robert Schuyler and others have been incorpo- to rated as a Company to build a Railroad from New Haven New-York, through Bridgeport. The amount of toll taken on all the Canals of the State to the close of the third week in May, being n period of 35 days. is $501,000. Last year, to the close of the first week in June. a period of 38 days, the amount was $418,000: and to the close of the third week in May about $300,000. This shows an immense increase of business. At New-Orleans the Bill market is quiet. Sterling 734 a 81/2 per cent. premium : Francs 5.2334 is 5.273/2 New. York 60 days 1/2 per cent. discount Sight Checks 34 per cent. premium. At Mobile, fair business in Exchange, but prices are without alteration. Alabama money has been in better demand, and rates are 8 X a 9 discount. 50s, 100s and 500s, altered from Is of the North Bank, Boston-vignette, State-House, country scene. &c. on the right end, and ship on the left, female figure. &c. and Massachusetts Bank, 100s altered from 2s-vignette, two ships, of top steamboat, a sloop-the word one," at the bottom and the bill, spelt oen '-have made their appearance. At Boston, the mania for building Railroads con- the and as it is a mania which generally increases tinues: business and prosperity of the place where it prevails, we will the not quarrel with it. Over $300,000 have been subscribed on Brattleboro' Road line, and with $500,000 the Corporation can be at once organized. The surveys for its continuation through Vermont are very favorable in regard to length of line and easy working of the road. The Plymouth Railroad IS yet undecided as to line of location. whether it shall take the inland or seaboard route: the former is the favorite. It is understood that capitalists have offered to take all the stock not subscribed for on the route. The branch road from the Providence to Stoughton has been subscribed for. and contracts advertised for as ready to be made. Worcester Railroad stock has fallen to 16 per cent. advance. and is not so much in fever, as many of reason that if it could pay but 6 per cent before this amount $30,000 was taken from it, a reduction even from that dividend hereafter be made. Western is firm at 7514. Providence of for at 6% per cent., as its earnings and are said to show an improvement of 50 per expenses is must inquired reduction cent. the in the last five months, in comparison with the same time of previous year. Lowell has advanced to 30 per cent. advance, and is not abundant at that price. Concord is worth 27 Maine 634 a7: Taunton 20 n 21: Eastern 914: New-Hampshire S. and Fitchburg per cent. advance and interest. It is expected to finish laying the rails upon this road up to Concord. so that an engine may run over it next week. The deep cut through Waltham, requiring a stone wall for nearly three-fourths of a mile. has retarded operations at that point: but by the 10th of June the whole line to Concord may be traversed. The Maine Extension Company. which is a separate and distinct corporafrom the Boston and Maine Railroad. have advertised their tion contracts as ready. For the stock 21 per cent. advance and interest is offered. with but few sellers. Portland Railroad stock has been in better request within a few days, and sales mode at 901/2 a 91. The net earnings for the last six months are said to be over 2 per cent. on the par value of the capital.Reading Railroad stock continues to be extensively operated in, and a large part of the stock is held at Boston. By last returns. seven-eighths of all coals sent from the Scuy Ikill region this season have passed over this road. Its affairs are now in a much better condition than at any former period: and taking into account the subscriptions at $50 per share. its stock is at par. On Monday next its annual meeting for choice of Direc. full tots takes place. and the contest will no doubt attract a meeting. We shall then learn the facts with reterence to rumored sales of steamboats and opposition lines to New York There is not a little diversity of opinion as to the effect to be produced by opening the Long Island Railroad upon the steame boat lines now running to Stonington and Norwich. Some allow not more than = fourth part to this new avenue, and others more than three fourths. Manufacturing stocks are on h the ascending scale. and sales of Merrimack have been made at 45 per cent. advance. For Amoskeag 32 is offered Stark 8: Appleton 10: Boott 13: Hamilton 12 Lawrence 10: Lowp e!! 9: Middlesex 2): Suffolk 16: Tremont 13: Nashua 10 d Dwight & Perkins 10: Otis 10: York 20: Massachusetts Mils 10. I On Saturday next, the assignees of the Girard Bank will offer at public sale a considerable amount of Stocks and Loans belonging to the assets of the Bank. By a communication of the Mayor of Louisville, Ky. we notice that the value of real estate and slaves in that city is estimated nt $9,792,449. The whole income of the city. from taxes, licenses, rents. &c. is $136,370. The whole expenses are estimated at $111,456. The following Stocks were sold at Baltimore:$266.67 Baltimore Sixes, 1870, 106% 9 shares Baltimore Water e Company, 85 ; 11 do. do. 85)4 $266 67 Baltimore Sixes, 1870. 20 shares Baltimore Fire Insurance, 4814 5 do. Farmers' and Merchants' Bank, 34% $257 Bultimore Sixes, 1890, 106%