Merchants Bank - St Louis, MO

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: May 15, 1858
Location: St Louis, Missouri (38.627, -90.198)

Metadata

Model: gpt-5-mini
Short Digest: db8af9e69689badb

Response Measures

None

Description

Article (clipping from St. Louis Democrat) reports Merchants' Bank had been in suspension and decided to resume specie payments; no run is mentioned and no cause for the suspension is given. The Democrat paragraph is dated the 12th inst.; it states resumption will occur 'on Saturday next' — that corresponds to 1858-05-15 given the newspaper dates. Bank type not specified in text.

Events (2)

1. May 15, 1858 Reopening

Newspaper Excerpt: the Merchants' Bank of this city ... has concluded to resume specie payments on Saturday next
Source: newspapers

2. * Suspension

Cause Details: Article notes the bank had been in a state of suspension but does not provide a specific cause or trigger.
Newspaper Excerpt: the Merchants' Bank of this city, considering it of no further pleasure or profit to remain in a state of suspension
Source: newspapers

Newspaper Articles (1)

1. May 20, 1858 Nashville Union and American Nashville, TN

Article from Nashville Union and American, May 20, 1858

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Article Text

RESUMPTION OF SPECIE PAYMENT.-We clip the following paragraph from the St. Louis Democrat of the 12th inst: "We are grat.fied to learn that the Merchants' Bank of this city, considering it of no further pleasure or profit to remain in a state of suspension, has concluded to resume specie payments on Saturday next We understand this bank has been prepared for this movement for sometime, but has hesitated about taking the step, in consequence of the fears or persuasions of some of her sister banks. "All the banks will undoubtedly follow suit immediately, and St. Louis, cleansed from the stain of dishonor, will take her stand once more, with her former fair name and credit, among the cities of the Union." When will Tennessee "cleanse" herself from the "stain of dishonor" and take her stand with a "fair name and credit" among the other States of the Union? Echo answers, when ?-Memphis Appeal.