Stark Bank (Bennington, VT)

Episode Information

Episode UID
9533360290694
Episode Type
Suspension โ†’ Reopening
Bank Type
state
Bank ID
953336029 hash
Start Date
October 28, 1857
Location
Bennington, Vermont (42.878, -73.197)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
fac62e56ff154a88

Response Measures

None

Events (2)

1. October 28, 1857 Suspension
Cause
Macro News
Cause Details
Suspension of specie payment during the regional/national panic of 1857 causing banks' notes to be treated as uncurrent
Newspaper Excerpt
The Stark Bank of this village, has been set down in the list of discredited banks... those of the State of New York, which have merely suspended specie payment
Source
newspapers
2. October 31, 1857 Suspension
Cause
Macro News
Cause Details
Bank's notes listed as uncurrent at clearinghouses amid the broader 1857 banking panic
Newspaper Excerpt
The bills of the following Banks are not received at the Suffolk Bank... Stark, at Bennington
Source
newspapers

Newspaper Articles (2)

Article from The Middlebury Register, October 28, 1857

Click image to open full size in new tab

Article Text

THE STARK BANK, BENNINGTON.-- For the last few weeks every one has been afraid of a bank bill, no matter of what denomination, but now it is thought the bills of all the suspended banks will be received and paid out in busi ness transactions. The Stark Bank of this village, has been set down in the list of discredited banks, and in some of the city papers We notice it is published failed; but this is a mistake. Up to the present time the bank has not failed to redeem every dollar presented at its counter for redemption. Those who hold bills upon this Bank, as well as upon those of the State of New York, which have merely suspended specie payment, need have no fears of loosing from these bills, as they will eventually be redeemed.-Banner.


Article from Vermont Phล“nix, October 31, 1857

Click image to open full size in new tab

Article Text

Uncurrent Bank Bills. Under the present temporary arrangement during the panic, the bills of the suspended Banks of New England and New York are generally current in Boston and New York.The exceptions up to this time are all given below ; and in regard to these it is supposed that the bills are good in most cases, though not bankable. Or those Banks in this State set down as uncurrent, the Royalton, Stark, Missisquoi, and St. Albans, are undoubtedly good, and holders of bills should not submit to a sacrifice on them. The bilis of the following Banks are not received at the Suffolk Bank, Boston, nor at the Metropolitan Bank, New York : MAINE. China, and Canton, at China. Ellsworth, at Ellsworth. Exchange, at Bangor. Hallowell, and Central, at Hallowell. Hancock, at Ellsworth. Maritime, at Bangor. Monsum River, and Sanford, at Sanford. NEW HAMPSHIRE. Exeter, at Exeter. Weare, at Hampton Falls. VERMONT. Danby, at Danby. Missisquoi, at Sheldon. Royalton, at Royalton. South Royalton, at South Royalton. Stark, at Bennington. St. Albans, at St. Albans. MASSACHUSETTS. Manufacturers, at Georgetown. Western, at Springfield. RHODE ISLAND. At present all notes issued by the Rhode Island Banks are rejected, although most of them are current in their own State. CONNECTICUT. Bridgeport City, at Bridgeport. Charter Oak, at Hartford. Colchester, at Colchester. Exchange, at Hartford. Hartford County, at Hartford. Hatters, at Bethel. Mercantile, at Hartford. Merchants' Exchange, at Bridgeport. North America, at Seymour. Palaquioque, at Danbury. Pawcatuck, at Pawcatuck. Quinebaug, at Norwich. Thompson, at Thompson. Uncas, at Norwich. Windham County, at Brooklyn. Woodbury, at Woodbury. Wooster, at Danbury. NEW YORK. Agricultural, in Herkimer County. Central Bank of New York, at Utica. Dairyman's, at Newport. Hamilton Exchange, at Greene. Hollister, at Buffalo. Huguenot, at New Paltz. Medina, at Medina. Niagara River, at Tonawanda. O. Lee & Co.'s Bank, Buffalo. Ontario, at Utica. Orleans, at Albion. Reciprocity, at Buffalo. Sacketts' Harbor, at Buffalo. Troy City, at Troy. Yates County, at Penn Yan.