Easton National Bank

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 1434
Charter Number: 1434
Start Date: October 11, 1873
Location: Easton, Maryland (38.774, -76.076)

Metadata

Model: gpt-5-mini
Short Digest: cb20835c

Response Measures

None

Description

Article (1873-10-11) reports the Easton National Bank refused to pay out foreign checks (checks drawn on city banks) because city banks had stopped paying; the bank continued to pay its own checks and transact business. This is a partial suspension tied to correspondent/local city bank failures during the financial panic, with no indication of permanent closure.

Events (2)

1. July 13, 1865 Chartered

Source: historical_nic

2. October 11, 1873 Suspension

Cause: Correspondent
Cause Details: City (correspondent) banks in Baltimore/city stopped paying their checks during the financial panic, so Easton National Bank declined to pay out foreign/correspondent checks temporarily.
Newspaper Excerpt: The city banks have stopped paying currency on their own checks, until the financial panic is over, the Easton National Bank has been compelled, in self-defense, to decline for the present paying out money on these foreign checks. It will continue to pay its own checks and transact all other business as usual.
Source: newspapers

Newspaper Articles (1)

1. October 11, 1873 Middletown Transcript Middletown, DE

Article from Middletown Transcript, October 11, 1873

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Article Text

Maryland Affairs. / The financial panic has reached Easton. The Stur nays: The city banks have stopped paying currency on their own checks, until the financial panic is over, the Easton National Bank has been compelled, in self-defense, to decline for the present paying out money on these foreign checks. It will continue to pay its own checks and transact all other business NS usual. This bank is managed onethe most conservative principles, and is as sound as n gold dollar. There will be some inconvenience to farmers in not getting the money for the grain they are selling to Baltimore, but if the city banks will not pay their checks it is not to be expected that our bank can advance the money for them. It would be well for farmers to stop shipping grain until the money market in the city is easier. The Newtown Gazette says: We understand that enough stock has now been taken to make the building of the projected large hotel at Sinepuxent Beach a fixed fact. Negotiations are now pending looking to the purchase of land, and we may expect soon to hear of the building of the hotel and extension of the railroad across the bay. The charter of the company requires $25,000 to be raised before commencing operations. This amount has now been subscribed and more, too, it is said. There were $2,600 subscribed in Somerset county, $3,000 in WIcomico, $5,000 in Worcester, and one gentleman of Baltimore, Robert J. Fowler, took $6,000 of stock. A dispatch from Cambridge, announces the death at his residence in Dorchester county of the honorable Themas King Carroll, who was the Governor of Maryland in 1829, forty-four years ago. Mr. Carroll was the oldest surviving Governor of the State, and the only one of those remaining who were elected by the Legislature when the term of office was for one rear. There were four other Governors elected in the same way sui-sequently, the first one elected by the