German Savings Bank - Baltimore, MD

Bank Information

Episode Type: Suspension → Reopening
Bank Type: savings bank
Start Date: November 9, 1878
Location: Baltimore, Maryland (39.290, -76.612)

Metadata

Model: gpt-5-mini
Short Digest: 1a41f268

Response Measures

None

Description

Article (Daily Kennebec Journal, 1878-11-11) reports the German Savings Bank has ceased payment at Baltimore attributed to damaging rumors circulated by the outgoing board of directory. No run or receivership is mentioned. Outcome not stated; I selected suspension_reopening as the most likely outcome for a rumor-driven temporary suspension but noted the uncertainty.

Events (1)

1. November 9, 1878 Suspension

Cause: Rumor Or Misinformation
Cause Details: Ceased payment blamed on damaging rumors circulated by the outgoing board of directors (rumor-driven suspension).
Newspaper Excerpt: The German Savings Bank has ceased payment at Baltimore, and it is charged suspension is owing to damaging rumors circulated by the outgoing board of directory.
Source: newspapers

Newspaper Articles (1)

1. November 11, 1878 Daily Kennebec Journal Augusta, ME

Article from Daily Kennebec Journal, November 11, 1878

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Article Text

NEW YORK Railroad Troubles. LOCKPORT, November 9. The railroad excitement continues at this city and at Tonawonda and vicinity. Sheriff Botten with 100 deputies, left here via Erie Canal, early this morning, for Tonawonda, and arrived safely. A special despatch to the Lockport Journal at 11.30, from Tonawonda, says the Central Railroad Company has dumped large boulders on the side of the track, and ron an engine on the crossing, thus obstructing it. The Niagara Light Guards of this city are still under arms, awaiting orders. Later. The employes of the road relaid the track across the Central track at Tonawonda. No resistance was offered and no further trouble is anticipated. The engine which stood on the crossing was run to one side. The sheriff and 100 deputies were present. Railroad Matters. NEW YORK, November 9. The conference of railroad managers has effected arrangements for pooling East-bound freight, which includes thirtyfour Western roads, under the management of one commissioner who, it was reported, is invested with arbitrary powers to enforce his order. Gold. Gold opened at 100 1-8. The Turf. The race horse Duke of Magenta was shipped for England to day, to contest with English racers. Serious Charges. Capt. Ellingwood of Brig Ransom, is in jail on the charge of excessive brutality to his steward on a recent voyage. Gen. Grant. A Seville despatch says Gen. Grant arrived there Thursday, and was received with grand homors. Suspension. The German Savings Bank has ceased payment at Baltimore, and it 16 charged suspension IS OWing to damaging rumors circulated by the outgoing board of directory. Financial. A meeting will be held to-day at Washington, between New York bankers and Sec'y Shermae, upon the leading financial questions. For Europe. Four steamers for Europe to-day, with full cargoes and fair lists of passengers. West Point. The annual report of Gen. Schofield of West Point, urges the reorganizatien of several departments of that Academy. Appeal for Aid. The Howard Association of New Orleans has asked the Southern Relief Committee of New York and the Chamber of Commerce, for $30,000 to pay doctors and nurses outside of New Orleans. Freight Rates. It is stated that the Western railroad managers, before adjournment Saturday, determined to advance the rates on all Eastward bound grain and freight of the 4th class five per cent. per cwt., on the 25th inst. The West bound rates are not altered.