Bank of Missouri - St Louis, MO

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: November 23, 1823
Location: St Louis, Missouri (38.627, -90.198)

Metadata

Model: gpt-5-mini
Short Digest: dd7ae5450cf0af53

Response Measures

None

Description

Article (Treasury Dept. 12 June 1824) states the Bank of Missouri had failed and stopped payments prior to Nov 23, 1823; a receiver at St. Louis is collecting assigned debts for the Treasury. No run is mentioned. I infer the bank suspended/failed and remains closed with a receiver. Date of failure not exact; I use the latest explicit reference (prior to 1823-11-23) as the best-supported date.

Events (2)

1. November 23, 1823 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank failure/insolvency led to assignment of its debts to the Treasury and cessation of payments; receiver appointed in St. Louis.
Newspaper Excerpt: The Secretary has the honor to state that no payments have been made directly by the Bank of Missouri since its failure.
Source: newspapers

2. June 12, 1824 Receivership

Newspaper Excerpt: the Receiver at St. Louis, who is employed by the Treasury as its agent in collecting the debt of that bank, has not yet reported them to the Secretary; ... no payments have been made directly by the Bank of Missouri since its failure.
Source: newspapers

Newspaper Articles (1)

1. July 13, 1824 Constitutional Whig Richmond, VA

Article from Constitutional Whig, July 13, 1824

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Article Text

TESTIMONY AND DOCUMENTS ON THE MEMORIAL OF NINIAN EDWARDS, [CONTINUED.] TREASURY DEPARTMENT, 12th June, 1324. In compliance with a request of the committee on the Address of Ninian Edwards, communicated through Mr. Forsyth, the Secretasy of the Treasury has the honor to transmit the occompanying statements (No. 1, 2, and 3,) from the Treasurer, shewing, 1st. The balance of public moneys in the Bank of Steubenville, at the end of every quarter, from the commencement of March, 1817, to the 31st of March, 1824, and continued to 7th June, 1824. 21. The same, in relation to the Bank of Tombeche, from the commencement of March, 1319. 3.1. The aggregate of moneys deposited to the credit of the Treasurer, and the balance remaining at his credit on the 7th June, 1824, in each of the following banks: Steubenville, Chilicothe, Mississippi, Co.nbechee, Missouri, Vincennes, Edwardsville, Illinois, Franklin Bank of Columbus, Farmers' and Mechanics' Bank of Indiana, Branch Bank of Kentucky, at Louisville, Planters and Merchant's Bank of Huntsville, and Farmers' and Mochanics' Bank of Cincinnati. The Secretary has the honor to state that no payments have been made directly by the Bank of Missouri since its failure. It is known, that, previously to the 23d of November last, $781 43, had been paid in specie by some of the parties, whose debts had been assigned by it to the Treasury; and it is understood from the President of the Bank, that other sums have been paid in like manner-but the Receiver at St. Louis, who is employed by the Treasury as its ageut in collecting the debt of that bank, has not yet reported them to the Secretary. Among the debts assigned to the Treasury was one of $10,030; and it appears, that, for the reasons, and under the circumstances stated in the accompanying papers (marked * A and B.) the Agent entered into our arrangement, by which 8000 in notes of the Treasury of the state of Missouri, (commonly called loan office paper,) were taken, at the rate of 75 cents to the dollar, in part payment of this debt; and these notes the Secretary directed to be specially deposited in the Branch Bank of the United States at Louisville, to the credit of the Treasurer. It also appears, by the same papers, that there were, among the securities assigned by the Bank for the payment of its debt to the Treasury, $15,006 in paper of this discription; of this sum, (together with another of $50, which he appears to have since received,) the agent at St. Louis, onhisown judgment, subject totheapproval of the Secretary, exchanged $1,539 64, for certificates of the Auditor of Missouri, and $5000 for notes of the State Bank of Illinois, all which with the balance of the Loan Office paper, have been placed to the credit of the Treasurer, as a special deposite in the Branch Bank of the U. States at Louisville. The exchange is represente as advantageous to the United States, but has not been sagetioned by the Secretary the Treasury. Hon. Chairman of the Committee on the Address of Ninian Edwards. *.1. Extracts of a letter from George F. Strother to the Secretary of the Treasury, dated St. Louis, April 27, 1823. B. Extract of a letter from Thomas Sloo, to the Secretary of the Treasury dated 23d Nov. 1823.