Havre De Grace Banking & Trust Company

Bank Information

Episode Type: Run → Suspension → Unsure
Bank Type: trust company
Start Date: April 13, 1848
Location: Havre de Grace, Maryland (39.549, -76.092)

Metadata

Model: gpt-5-mini
Short Digest: 7e7be880

Response Measures

None

Description

1848 newspaper reports that notes of the Havre de Grace bank were trading at 50 cents and there has been a heavy run on the bank and that it will also suspend, if, indeed it has not already stopped. The article implies a run and possible suspension but gives no clear confirmation of a permanent closure or later reopening, so classification is run_suspension_unsure. OCR corrected punctuation and modernized capitalization; bank referred to in the article as Havre de Grace Bank.

Events (2)

1. April 13, 1848 Run

Cause: Local Banks
Cause Details: Market quotations and troubles of local banks (Mineral Bank suspended) led to notes trading at 50 cents and heavy withdrawals from Havre de Grace Bank.
Newspaper Excerpt: the notes of the Havre de Grace Bank are worth only fifty cents in the dollar in the stock market; that consequently there has been a heavy run on the bank;
Source: newspapers

2. April 13, 1848 Suspension

Cause Details: Article expresses belief the bank will suspend or may have already suspended; no definitive cause or governmental action reported beyond loss of confidence noted above.
Newspaper Excerpt: the general impression is that it will also suspend, if, indeed it has not already stopped.
Source: newspapers

Newspaper Articles (1)

1. April 13, 1848 Sentinel of the Valley Woodstock, VA

Article from Sentinel of the Valley, April 13, 1848

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Article Text

The Elections.-Un the 27th of this month, the elections for members of the Legislature will come off. Both parties have organized, to the utmost of their strength, for the contest. The battle will no doubt be a hard one, and the result will, and is designed, to have an important bearing upon the presidential election. In the Valley, more particularly, we feel an interest in the result. There are two Democratic candidates for the House of Delegates, and some half dozen Whig candidates, in the county of Augusta. The Spectator has become alarmed at the prospect of defeat, and tells the people that the Whig "cause is in danger." It has been proposed to call a convention to rule off the track all but two. In Frederick, we do hope that there will be no compromising with the Whigs, as has been the case too much heretofore. Both the Democratic candidates can be elected just as easily as one, if the party will do their duty. In Hardy county, there are two Whig candidates, viz : F. B. WELTON, a Clay Whig, who is opposed to the war, and also opposed to any change in the Judiciary system of the State; and J. S. MILES, who sustains the war policy, and is in favor of reform in the Judiciary. We call upon the Democrats of Hardy to vote for Mr. MILES; for it would be folly to attempt to elect a Democrat there, while they may, in conjunction with the Independent Whigs, defeat the allies of the Mexicans. Two Banks Suspended!-It has al. ready been published throughout the country, that the Mineral Bank of Maryland has suspended operations, and that, in all probability, the institution is broke and its paper worthless. It has also been announced in the Bal. is timore papers, that the notes of the Havre de Grace Bank are worth only fifty cents in the dollar in the stock market; that consequently there has been a hea vy run on the bank; and the general impression is that it will also suspend, if, indeed it has not already stopped. We make these statements for the ben. efit of our country friends. are GS list of the acis passed by the General Assembly of Virginia will be published as soon as we shall receive statement of them. We intend to address the peopie, at Mr. CHAS. S. WONDER'S store, in the Forest, on Saturday next, should nothing prévent.