8854. Erie & Kalamazoo Rail Road Bank (Adrian, MI)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
September 2, 1854
Location
Adrian, Michigan (41.898, -84.037)

Metadata

Model
gpt-5-mini
Short Digest
b3a9d08b

Response Measures

Accommodated withdrawals

Other: Bank initially redeemed presented bills to meet withdrawals; later reported as failed/suspended in October listings.

Description

Contemporary reports (Sept 2–9, 1854) describe a run on the Erie & Kalamazoo R.R. Bank in Adrian and note the bank redeemed all its bills presented for payment and the run has ceased. Later itemized lists (Thompson's Reporter) report the bank as having failed/suspended on Oct 5–6, 1854. Sequence: run in early September, later suspension/failure in early October leading to permanent closure. Bank type inferred as a state-chartered bank associated with a railroad (pre-National bank era). Cause of the run/suspension is not specified in the articles.

Events (3)

1. September 2, 1854 Run
Cause Details
Articles report a run in early September but do not specify a trigger (rumor, correspondent failure, or bank-specific insolvency not stated).
Measures
Redeemed all bills presented for payment at the counter; issues promptly redeemed.
Newspaper Excerpt
the Erie and Kalamazoo Railroad Bank is redeeming all the bills presented for payment, and the run on the bank has ceased.
Source
newspapers
2. October 6, 1854 Receivership
Newspaper Excerpt
Erie and Kalamazoo Railroad Bank, Adrian, Mich., failed Oct. 6; no sale.
Source
newspapers
3. October 6, 1854 Suspension
Cause Details
Thompson's Bank Note Reporter lists the bank as failed/suspended on Oct 5–6, 1854; articles do not link a specific proximate cause to the suspension.
Newspaper Excerpt
Erie and Kalamazoo Railroad Bank, Adrian, Mich., failed Oct. 6; no sale.
Source
newspapers

Newspaper Articles (12)

Article from The New York Herald, September 3, 1854

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Therofficial report of the City Inspector gives 822 as the total number of deaths during the past week, and ef these 516 were under ten years of age, and 110 inmates of the public institutions. The cholera is slowly receding before the advance of coel weather, the number of fatal cases during the week being only 116-fourteen less than the week before. Cholera infantom has likewise fallen off, but cases being reported, against 126 the previous week. There were 69 deaths of diarrheea, 43 of dysentery, 14 of atrophia, 43 of consumption, 22 of congestion of the brain, 24 of dropsy in the head, 23 of inflamma tion of the brain, 12 of inflammation of the bowels, 7 of debility, 12 of inflammation of the lungs, 78 of convulsions, 15 of cholera mor. bue, 01 of croup, 45 of marasmus, 10 of hooping cough, and S of typhus fever. There were 13 deaths from external causes, 3 of old age, and 31 cases of still born and 10 premature births reported. Of the whole number 534 were natives of the United States, 161 of Ireland, 78 Germany, and 17 of England. NEWS FROM EUROPE. The steamship Pacific left Liverpool on the 23d ult. for this port. She is, therefore, fully due; but from the prevalence of very thick weather for the past few days it would not be surprising if her trip should be somewhat prolonged this time. We give in to paper the details of the ne brought by the Europe, embracing our London and Paris correspondemse, and a number of interesting articles from foreign journals on a variety of topics. The report of the navel engagement in the Chinese waters between English and Russian men-of-war will be read with interest. MORE FRAUDS ON THE REVENUE. Yesterday we published an account of the arrest of three Germans, passengers on board the steam. ship Washington, charged with attempting to smug. gle between ten and fifteen thousand dollars worth of jewelry, and in to-day's paper may be found the particulars of the seizure of about sixteen thousand dollars worth of silks. The goods were seized at the store of Mr. Fastacali, 87 Pearl street, by In spector Reill, who appears to have been very adroit in ferreting out and bringing to light this attempt to defraud the treasury. STEAMBOAT DISASTERS. A telegraphic despatch from Cincinnati gives a brief account of the explosion of the boilers of the steambost Timour No. 2, while lying at the wharf near Jefferson City, Mo., some days since. Providentially, her passengers were just landed, and therefore the loss of life and the number of wounded were not so great as would have resulted had the disaster happened but a few minutes sconer. It was supposed some fifteen or sixteen perons were either killed or thrown overboard and drowned, and about seventeen were scalded and otherwise injured. The steamboat was almost completely demolished, and but little of her cargo would be saved. The enginears were held, in heavy bonds, to answer any charge which may be brought against them. The steamer Lady Elgin struck on a rock near Manitowoc, in Lake Michigan, on Wednesday night, which caused her to leak. Her officers managed to lay her alongside the pier, when she sunk. There were three hundred passengers on board, all of whom were saved. MISCELLANEOUS. The churches of this city and vicinity that have been closed during the excruciatingly hot weather of July and August, will be re-opened to-day, and the usual exercises resumed. In another column we publish our customary compilation of religious news, to which we commend our readers. The American Protestant Association Lodges of the State of New Jersey are to have a grand parade at New work on the 5th inst, being the anniversary of the sitting the first Congress of the United States. Several lodges ITC." this State are expected to participate. It is said that the Secretary of the Interior is about to return to "market" all the land withheld from sale on account of the contemplated railroads running through or near them, except, of course. in *1889 where Congress has actually made the grants for railroad purposes asked. A large body of desirable lands will thus become again subject to private entry at $1 25 per acre, or to location with land script. The specie deposited in the United States Mint three million two hundred and seventy thou sand dollars. The coinage for the same period, Philadelph during the past month, amounted to an ounted to five llion three hundred thousand The frigate Independence, now lying at the Brook lyn Navy Yard, will be put in commission to-morrow, under command of Captain Josiah Tatnall. Her officers have already reported for duty, and her crew is nearly, if not quite, complete. She is ordered to the Pacific s'ation. Charles Preuss, who was connected with Colone! Fremont's explorations, committed suicide near Wash'ngton City yesterday, by hanging. He was supposed to be laboring under a fit of insanity when he commited the fatal deed. There were six deaths of yellow fever at Charles. ton on Thursday last. A despatch from Buffalo states that the Eri e and Kalamazoo Railroad Bank, at Adrian, Michigan, has rede med all its bills presented for payment, and that the run on the bank has ceased. Among the passengers in the steamship Arctic, which sailed yesterday for Liverpool, was ex Senator Dix, and Miss Dix, the philanthropist. The atnouncement of the death of ex-Senator Downs is now fully confirmed. COMMERCIAL AFFAIRS. The market for breadstuffs yesterday was less animated, and the sales made indicated no change of moment in quotations. A commission merchant, in the Canadian trade, returned yesterday from a tour through a part of Upper Canada, where be had travelled through or wheatdistricts H. stated the crop was some less airmount was was me MADE anticipated, and a


Article from Wheeling Daily Intelligencer, September 4, 1854

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ERIE AND KALAMAZ 10 BANK. BUFFALO, Sept. 2.------ letter from Adrian says 'he Erie and Kalamazoo Railroad Bank is redeeming all the bilis presented fr payment, and the run on the Bank has ceased.


Article from The Daily Dispatch, September 5, 1854

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THE ERIE AND KALAMAZOO R. R. BANK. BUFFALO, Sept. 2d.-We learn by a letter from Adrien, that the Erie and Kalamazoo railroad bank has redeemed all its bills presented for payment, and that the run on the bank has ceased.


Article from The Perrysburg Journal, September 9, 1854

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Article Text

There is at present quite a run being made on the Erie and Kalamazoo Railroad Bank, at Adrian, which has had the tendency to discredit the paper of the concern in many places. At last accountsall the issues were promptly redeemed at the counter of the bank.


Article from Plymouth Advertiser, September 9, 1854

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Items by Telegraph. Louisville, Sept. 1.-The Salt Lake mail arrived at St. Louis 10 day. Peace has been established hetween the people of the city and the Utah Indians, Gov. Young having concluded a treaty with all the chiefs. The health of the country is good. The rains have been more abundant than ever known, and there is a much larger quantity of land under cultivation. The storm at Salt Lake did considerable injury to some of the wheat crops. From the Lake to Green river, grass is * A great number of horses, sheep and mules are on the route. Seven thousand sheep were driven off in a body After passing Fort Kearney, the country showed signs of heat and drought. Wa ter was difficult to procure; the grass was withered, but was plenty. A band of Camanches were met crossingthe Arkansas and sent to camp ; having obtained pro visions they departed peaceably. Four thousand persons have gone to Salt Lake this season. Many complaints are made of outrages by the Pawnee Indians. A man named French, a wood teamster, was killed it broad daylight, and 700 sheep driven off The crops in New Mexico are good The train experienced no trouble from the di Indians. Buffalo were numerous all over IT the plains. Baltimore, Sept 3.-The New Orleans papers of Saturday, contain details o Mexican news up to the 22d. The Mex d ican papers assert positively that Coun Boulbon was shot. Sana Anna has issued a decree, ena bling religious orders to avail themselve y of the civil tribunals, and to enforce up ir on the monks and elergy, adherence & their VOWS. It is reported that Villareal, next in e command, and one of Alvarez's mos is able supporters, died at Acapulco, o wounds received in the late skirmish Γ. al Gomez, the secretary of Alvarez, is als reported to have died. An official statement of the Treasur shows $25,620,000 in the treasury on th 28th ultimo. Boston, Sept. 5.-An official order is sued by the Secretary of the Navy, de taches Capt. Hollins from the command o 5 the Sloop-of-War Cyase, which now re ve quires repairs for future service. Th W Secretary expresses his regret at the arrest of Commodore Hollins for the Grey Ctown affair. Captain H. addressed th d crew.and was cheered by them. S Boston, Sept. 4.-There was a terr ie ble riot on South street, last night, be n. tween the Irish and Natives. The polic e were charged upon by rioters. The re however succeeded in making 50 arrests g A riot also occurred among the Irish a it Summerville. Some 200 were engage er in it. Baltimore, Sept. 4.-Latest alvice e from Mexico report a battle near Mata moras between the Revolutionists an the Mexicans, in which the latter wer is defeated with a loss of 7 officers and 3 men. be New York, Sept. 4.-There was stree preaching at Bowling Green yesterday al es ternoon. The Irish commenced throw in a, stones, when a general fight ensued. Th on Know Nothings, a small force, were driv ee en up Broadway. An Irishman stabbe e James Wood probably failly. Severa h pistol shots were fired without serious et d fect. There was also a disturbance at th al Park, where there was also stree er preaching. The fights seem likely to b resumed. al Twelve cases of silks and velvets re e cently smuggled from Europe, were seize d on Saturday by Cyrus Riell, inspector o e Customs at the store of Mr. Fastacoli, P Spaniard, No. 87 Pearl-st. It is believe to be the largest amount ever received a one time and is valued at $16,000. e Chicago, Sept. 1.-The flags of the shipping in the harbor were displayed a half mast, and the bells tolled all thi morning, as an expression of indignation e felt for Mr. Douglas' opposition to th n River and Harbor Bill. He speaks her 1to night, and there is great excitement. ne Buffalo, Sept. 2.-A letter from Adri n an says that the Erie & Kalamazoo Rai of Road Bank has redeemed all their bill g presen ed for payment. and the run 01 the Bank has ceased. e Buffalo, Aug. 31.-A party of 125 em or igrants, from New England for Kansas a went up the lake last night. They take with them six engines from Rochester and some patent grist mill from this city 4 spirits. All the party were in good health and


Article from Plymouth Advertiser, September 9, 1854

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Buffalo, Sept. 2.-A letter from Adrian says that the Erie & Kala mazoo Rail Road Bank has redeemed all their bills presen ed for payment. and the run on the Bank has ceased.


Article from The Athens Post, September 15, 1854

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A dispatch from Buffalo says that the Erie and Kalamazoo Rail Road Bank has redeemed all its bills presented for payment, and that the run on the bank has ceased.


Article from The National Era, November 2, 1854

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CAUTION ABOUT MONEYS SENT FOR THE ERA. We have said that we prefer the notes of Eastern to those of Western Banks, where our Western subscribers can obtain them without loss. If this be impossible, send us the notes of the State Banks or their branches in the Western States. The brokers here will not buy the issues of your free banks. We call attention to the following list of banks that have broken or suspended, or whose notes are not taken, reported in Thompson's Detector of October 21st: Farmers' and Merchants' Bank, Memphis, Tennessee. Bank of Washtenaw, Omarba, Michigan. Bank of Milford, Milford, Delaware. Erie and Kalamazoo Railroad, Adrian, Mich. Adrian Insurance Company, Adrian, Mich. Ellsworth Bank, Ellsworth, Maine. Eighth Avenue Bank, New York city. Knickerbocker Bank, New York. Suffolk Bank, New York citv. Newport Safety Fund, Covington, Ky. Union Bank, New York city. Kentucky Trust Company, Covington, Ky. Don't send any of these.


Article from The Ottawa Free Trader, November 4, 1854

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From Thompson's Reporter, Oct. 21. List of Banks which have Recently Failed Farmers' and Mc rehants' Bank of Memphis, Tenn., failed Aug. 16; no sale. Bank of Washtenow, Ann Arbor, Mich., failed Aug 21 ; no sale. Bank of Milford, Milford, Del., failed Aug. 21 ; no sale. Monsum River Bank, Sanford, Me., thrown out by the Suffolk Bank, Sept. 27; no sale. Erie and Kalamazoo Railroad Bank, Adrian, Mich., failed Oct. 6; no sale. Adrian Insurance Company, Adrian, Mich., failed Oct. 6; no sale. Ellsworth Bank, Ellsworth, Me., thrown out by the Suffolk Bank Oct. 6; no sale. Eighth Avenue Bank, N. Y. City, failed Oct. 6; 20 per cent dis. Knickerbocker Bank, N. Y. City, failed Oct. 12 ; 20 per cent dis. Suffolk Bank, New York City, suspended Oct. 12; par. Newport Safety Fund Bank, Newport, Ky., failed Oct. 16; no sale. Kentucky Trust Company, Covington, Ky., failed Oct. 18; no sale. Bank of Union, New York City, closing; par.


Article from The National Era, November 16, 1854

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CAUTION ABOUT MONEYS SENT FOR THE ERA. We have said that we prefer the notes of Eastern to those of Western Banks, where our Western subscribers can obtain them without loss. If this be impossible, send us the notes of the State Banks or their branches in the Western States. The brokers here will not buy the issues of your free banks. We call attention to the following list of banks that have broken or suspended, or whose notes are not taken, reported in Thompson's Detector of October 21st: Farmers' and Merchants' Bank, Memphis, Tennessee. Bank of Washtenaw, Ann Arbor. Michigan. Bank of Milford, Milford, Delaware. Erie and Kalamazoo Railroad, Adrian, Mich. Adrian Insurance Company, Adrian, Mich. Ellsworth Bank, Ellsworth, Maine. Eighth Avenue Bank, New York city. Knickerbocker Bank, New York. Suffolk Bank, New York city. Newport Safety Fund, Covington, Ky. Union Bank, New York city. Kentucky Trust Company, Covington, Ky. Don't send any of these.


Article from The Belmont Chronicle, and Farmers, Mechanics and Manufacturers Advocate, November 24, 1854

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LIST OF BANKS WHICH HAVE REC ENTLY FAILED.-Thompson's Bank Note Reporter gives the following list of suspended Banks: Farmers' and Mechanics' Bank of Memphis, Tennessee failed Aug. 16. Bank of Washtenaw, Milford, Delaware, failed August 24th. Erie and Kalamazoo Railroad Bank, Adrian, Michigan, failed Oct. 6th. Adrian Insurance Company, Adrian, Michigan, failed October 6th. Ellsworth Bank, Ellsworth, Maine, thrown out by the Suffolk Bank, October 6th. Eighth Avenue Bank, New York city, failed Oct. 6. Knickerbocker Bank, New York city, suspended on the 11th of October. Suffolk Bank, New York city, suspended Oct. 12. Newport Safety Fund Bank, Newport Kentucky, failed October 16th. Kentucky Trust Company, Covington, Ky. failed October 15. Bank of the Union, New York city, closing.


Article from Carroll Free Press, December 7, 1854

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LIST OF Banks WHICH HAVE RECENTLY FAILED,-Thompson's Bank Note Reported gives the following list of suspended Banks: Farmer's and Manchanics' Bank of Memphis, Tennessee failed Aug, 16. Bank of Washtenaw, Millord. Delaware, failed August 24th. Erie and Kalamazoo Railroal Bank, Adrian, Michiganfailed Oct. 5th. Adrial Insurance Company, Advian, Michigan, failed October 6th. Ellsworth. Bank, Ellsworth, Maine, thrown out by the Suffolk Bank. October 6th. Eighth Avenue Bank, New York city, failed Oct. 6.Knickerbocker Bank, New York city, suspended on the 11th of October. Suffolk Bank, New York city, suspended Oct, 12. Newport Safety Fund Bank, Newport Kentucky, failed October 16th, Kentucky Trust Compan Covington, Ky, failed October 15th Bank of the Union, New York city, closing, A dispatch bearing date Boston Dec I says It is stated that the stock bank at Bennington, Vt., which suspended last Monday may ultimately redeem its bills, the directors being held in bonds to the State to insure that result.The bills now sell 50cts on the dollar. We tender our thanksito the Cleveland Leader for an 'extra' containing a map of Sevastopol. It shows the Town, Forts. Harbors, &c. so that by a glance upon it, one can read the description of the battles at that place, understandingly. The Leader never fails tofurnish its readers with what is most interesting and profitable. It is one of the foremost dailies of the West.