Chestertown Bank - Chestertown, MD

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: February 14, 1853
Location: Chestertown, Maryland (39.209, -76.067)

Metadata

Model: gpt-5-mini
Short Digest: 18d6018b

Response Measures

Accommodated withdrawals

Description

Newspaper (Cecil Whig) reports a short-lived run in mid-February 1853 driven by false/malicious attacks in a New York paper. All demands were promptly met and the bank resumed usual operations, so this is a run that did not lead to suspension or closure.

Events (1)

1. February 14, 1853 Run

Cause: Rumor Or Misinformation
Cause Details: Run was altogether from abroad attributed to false and malicious attacks by a New York paper; official statement showed sound condition.
Measures: All demands were promptly met; bank resumed discounting and normal operations.
Newspaper Excerpt: It has already been stated that a run was made on this bank on Monday of last week. The Chestertown News says all the demands were promptly met, and on Monday the whole matter ceased, and things resumed their regular course
Source: newspapers

Newspaper Articles (1)

1. February 19, 1853 The Cecil Whig Elkton, MD

Article from The Cecil Whig, February 19, 1853

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Article Text

WHOLE No 603 THE CHESTERTOWN BANK.-It has already been stated that a run was made on this bank on Monday of last week. The Chestertown News says all the demands were promptly met, and on Mon. day the whole matter ceased, and things resumed their regular course-the Bank discounting as usual on Thursday This run was altogether from abroad and was totally uncalled for, as the official statement of the Bank, made but a few days before the rumors were circu. lated, showed a sound, prosperous and strong condition. The charter of the Bank is very guarded, and it is not allowed to issue more than double the amount of capita! actually paid in, and any excess beyond this, the private property of the Directors is liable for. The Newsattributes the temporary excitement to false and malicious attacks made on the bank by a New York paper.