9457. Central Savings Bank (St Louis, MO)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
July 7, 1876
Location
St Louis, Missouri (38.627, -90.198)

Metadata

Model
gpt-5-mini
Short Digest
3cf46b53ba613f48

Response Measures

None

Description

Contemporary reports (July 7, 1876) state the Central Savings Bank of St. Louis closed its doors and has suspended, with officers assigning property to three trustees for depositors, creditors and stockholders. This indicates a suspension followed by assignment (practical closure/receivership) rather than a mere temporary stoppage or a run first.

Events (3)

1. July 7, 1876 Other
Newspaper Excerpt
The Central Savings Bank, of this city, closed its doors to-day. The president and directors make a statement of assets, will meet liabilities and make assignment of all property of the bank to three prominent trustees for depositors,-creditors and stockholders.
Source
newspapers
2. July 7, 1876 Receivership
Newspaper Excerpt
will meet liabilities and make assignment of all property of the bank to three prominent trustees for depositors,-creditors and stockholders.
Source
newspapers
3. July 7, 1876 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed its doors and officers announced an assignment of all property to three trustees to meet liabilities—indicating insolvency/financial failure as the trigger.
Newspaper Excerpt
The St. Louis Central Savings bank has suspended.
Source
newspapers

Newspaper Articles (2)

Article from Daily Press and Dakotaian, July 8, 1876

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Article Text

CLOSED ITS DOORS, Sr. LOUIS, July 7 - The Central Sa vings Bank, of this city, closed its doors to-day. The president and directors make a statement of assets, will meet liabilities and make assignment of all property of the bank to three prominent trustees for deposit ors,-creditors and stockholders. BANKRUPTCY. NEW YORK, July 7-A. A. Selover, a well known Wall street operator, has filed a petition in bankruptcy. Total liabilities $660,000, of which *365,000 is partially secured. BURLINGTON, Ia., July -The democratic judicial convention of this district will be held on the 22d of July STOCKHOLDERS MEETING. At a meeting of the stock holders of the Burlington & Northwestern railway today, resolutions were adopted authorizing the board of directors to mortgage the road, not to exceed $5,000 per mile on the part of the road running from Burlington to Winfield, and issue bonds said bonds to be hypothecated, and as last as subscriptious are paid in, that so much of the money so received as is not needed for the construction and equipment shall be applied to paying the deut secured by these bonds; no more of said bonds to be hypothecated than are absolutely necessary to construct and equip the road to Wintield. BASE BALL. CINCINNATI, July 7.-New Haveus, 3: Cincionalis, 1. BLAINE AUGUSTA, Me. July 7.-Gov. Connor called on Mr Blatne, 10 his sick room and tendered him the appointment of U.S. senator, saying that be believed it to be the general expectation, and wish of the republicios of Maine - that lie should fill the Vacancy caused by Morrill's re-ig nation It IS understood that Bluine will accept the place. Blaine has not been quite well to day ACCEPTANCE COLUMBUS, O., July 7.-I: is understood here that Gov. Hayus' letter of acceptance will be ready for the papers of Monday morning. It will probably be brief.


Article from The Cheyenne Daily Leader, July 8, 1876

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Article Text

TELEGRAPHIC BREVITIES. The St. Louis Central Savings bank has suspended. New Yorkers are rapidly dying of sunstroke. The Centennial Exposition will not be opened on Sundays. The Fort Kcarney military reservation is to be sold.