Franklin Bank - Baltimore, MD

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: May 1, 1819*
Location: Baltimore, Maryland (39.290, -76.612)

Metadata

Model: gpt-5-mini
Short Digest: a39c55dc

Response Measures

None

Description

Article (Richmond Enquirer, 1819-05-25) reports Franklin Bank in Baltimore suspended payment for a few days; doors not closed but creditors unable to get demands satisfied. No run described and article says suspension expected to be short, implying reopening.

Events (1)

1. May 1, 1819* Suspension

Cause Details: Temporary suspension of payments: doors remained open but creditors could not obtain payments; described as short-lived and bank considered solvent.
Newspaper Excerpt: a suspension took place yesterday for the first time. The doors of the Franklin Bank are not closed, but creditors are unable to get their demands satisfied.
Source: newspapers

Newspaper Articles (1)

1. May 25, 1819 Richmond Enquirer Richmond, VA

Article from Richmond Enquirer, May 25, 1819

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Article Text

somestyle, destined for the Yellow Stone. It is a remarkably fine looking regiment, and seems in every respect calculated to encounter the perils and hardships of this interesting service. DETROIT, April 30.-Yesterday Major M. Marston, of the 5th Infantry, and his command, left this port in the schr. Tiger, for Green bay, where they will await the arrival of the infantry, now at this place. Lt. Mellen, of the corps of artil lery, with a small detachment, sailed in the same vessel; they are to be station ed at fort Gratiot, the command of which is given to Lieut. Mellen. Captain Fowle and his command, now at Fort Gratioi, will accompany Major Marston. The Baltimore Federal Gazette paragraph of the 15th was certainly an anticipation of what has subsequently occured; a suspension took place yesterday for the first time. The doors of the Franklin Bank are not closed, but creditors are IIIIable to get their demands satisfied. This however, we are informed, will continue but for a few days; of the solvency of the bauk and its ability to redeem its paper, we have no doubt. Alex. Herald, May 15. JOHN WHITE has been appointed Cashier of the Office of Discount and Deposit in this city, in the place of JAMES W. M'CULLOH, removed. This is the work of the parent board ai Philadelphia, and, as far as we have been able to discern, has excited general astonishment and regret. We understand that all the concerns of Mr. M'Culloh with the Bank were correctly and satisfactorily adjusted. As to our own individual feelings toward this gentleman, we forbear to express them, at least for the present. We however, must say that a more upright, honorable man, is not to be found. In the late war, and particularly during that interesting and lawful period when our city was besieged, he proved his fidelity to his country-lie was always to be found in arms, until he was cut down by the enemy at the battle of Bladensburg. Those who exhibit such unequivocal tests of devotion 10 country, deserve the public gratitude ; and it is with emotion of concern, and with feel ings of the most decided disapprobation, that we view in common with others, the removal from office of a man, whose virtues and abilities, and particularly whose patriotism, yea, whose scars received in the public service, point with indignant censure at an act so unexpected and unmerited. [Balt. Pat.