9800. Bank of Natchez (Natchez, MS)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
state
Start Date
April 27, 1837
Location
Natchez, Mississippi (31.560, -91.403)

Metadata

Model
gpt-5-mini
Short Digest
c1ea746af7165d21

Response Measures

None

Description

Article 1 (Charlotte Journal, 1837-05-26) reports that the Bank(s) at Natchez have suspended specie payments (April 27, 1837) in the context of the Panic of 1837. No explicit run is described. Article 2 (New-York Tribune, 1873-04-12) refers to a receiver of the Bank of Natchez and a former receiver Ferguson conveying property, indicating the bank had a receiver at some point. I classify this as a suspension followed by closure/receivership; the 1837 suspension is documented, and later court records (1873) show a receiver existed. There is some uncertainty about timing between suspension and receivership, but evidence supports permanent failure/receivership rather than a simple temporary resumption.

Events (2)

1. April 27, 1837 Suspension
Cause
Macro News
Cause Details
Suspension of specie payments in the aftermath of the Panic of 1837 and broader monetary dislocations (Pet Banks, government deposits withdrawn); reported April 27, 1837 in coverage of regional banking failures and currency distress.
Newspaper Excerpt
the d of Natchez and the y Bank Bulletin express Planters Agricultural payment Bank Mississippi, have suspended specie both
Source
newspapers
2. April 12, 1873 Receivership
Newspaper Excerpt
the receiver of the Bank of Natchez objected that Calhoun's title was not good. ... the deed recited that the money was paid ... one Ferguson, a former receiver of the bank was not in conformity with the order of the Court (NY Tribune, Apr 12, 1873).
Source
newspapers

Newspaper Articles (2)

Article from The Charlotte Journal, May 26, 1837

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Article Text

MOBILE,April,27 Some of the Effects.-A highly respec. table gentleman from Virginia was city a day or two since, on his way home from Mississippi, and gave some facts to the money affairs which are wel of serious relation worthy consideration. well here by gentlemen his in Virginia, to He had in neighborhood 81,000,000. known been be He worth about Mississippi from He is to purchase a plantation. saw social strange things there. A planter had about 30 negroes taken by the Sheriff and sold auction. There was a crowd assembledbut one or two bidders were found. The 30 negrees were knocked off for a little more than four thousand dollars. The crowd gathered about the purchaser and warned him not to pay for the negroes, he them-their for should not have height bor's should not be thus sacrificed The was, property consequence the negroes went back to their master. At Vicksburg, found an acquaintance with 20 to 30 D groce for sale. The man could get to his board bill with. sawa some negroes up at ney Vicksburg pay He auctioncash sale. A likely looking fellow was for until $350 were offered. Not another be had. The owner then stepped and the terms of cash bid up could changed sale from secu to months credit, with ample The bidding raised rity. twelve like off electricity $16.5 The same fellow was knocked at SAMPLESOFTHE-BETTERCURRENCY Bank Notes, (than whi N. Carolina is country.) there none better in the are discount at Va., while are at in per they cent. par Petersburg. Norfulk, Cheraw (S. C.) Bank Notes, which believe are of undoubted credit, are at discount of 4 per cent. at Charleston, the same State. Many of the merchants of North Card lina, and every other Southern State, have to get checks on this at any price, been put to great of their debtsthere, quently been season, unable inconvenience and and have the have of North conse bees unable to for the the payment go.on purchase What little usual supplies of goods. change the Banks have had, they have liberal enough to sell at one per cent. mium, whilst in our neighboring States is worth 3, 4. and a per cent. Formerly before the better Currency was estal lished, exchange was plenty, and at opi one of one per cent. that and the 5 per between quarter price The difference cent, which it is now selling in Charleston, come out of the merchant's pocket, in the and then out of the purchases of his It is a tax upon instance, goods. the Charter people Before the United States Bank expired, when an individual could not, would not, get checks to take with him the North, he could readily supply himsel with Bank Notes that were good every it is with great difficult where. Now, from State that a man can get along one the and if he takes to he finds a him other, New York, Bank them Notes at count of from 5 to 25 per cent. These are some of the advantages of wise policy pursued by the late Administra tion, and followed up by the present, which they promised the country, would bring bout a " better currency than it then sessed.-Fayetterille Observer. The Beginning of the End.-One of the Banks at New York the Dock BANK, has gone by the Deposite heard. 8260. the amount of Public money on hand, 000, is, of course, a total loss So much for this system of Pet Banks, where the โ‚ซ money of the Government was deposited States because it was not safe in the United Bank We shall not be surprised, if two thirds of these Pet Institutions give up the ghost -Ral. Reg. y And Another.-We learn from a slip b the mail, from the New Orlean of the 8th, that the d of Natchez and the y Bank Bulletin express Planters Agricultural payment Bank Mississippi, have suspended specie both The same paper states that they are have deposite Banks, and that one of them suffered a Government draught of $140,00 to be protested.-Cheraw Gazette. ct Beat this!-Ata single haul of the seim at the fisheries on the Roanoke, i. Fish were drawn on 3000 Roel each upwards shore and of weighing from 30 to 75 lbs. ; WOUR was supposed that the smallest size weigh Ral. Reg


Article from New-York Tribune, April 12, 1873

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Article Text

U. 8. SUPREME COURT-WASHINGTON April 11. No. 13.-Stevenson, Collector, agt. Beggs-Error to the Circuit Court for the Southern District of Ohio.-The question in this case 18 between the plaintiff in error, as Collector of Internal Rev. enne, and Beggs, a distiller, in an action brought by the latter to recover back a tar alleged to have been illegally exacted. Beggs insists that it is not lawful, under the act of July 20. 1868, to assess and collect, as for & deficiener. under a second assessment the taxes upon the difference between the producing capacity, as estimated by the Revenue officers and the amount of spirits actually produced by such distillery when the distiller has in good faith reported and paid taxes UPOD his whole production. and when such exceeds 80 per cent of the producing capacity. The Collector maintains that it is. The Court below decided in favor of the defendant bere, and in this Court the Government submits that if any error was made in the measurement of his distillery it was Beggs's duty to appeal to the Commissioner of Internal Revenue: and it is said that the estimate; provided for by law will be useless if it can be impeached collaterally, and the distiller is permitted, without appealing to the Commissioner to correct errors. to show that it is erroneous. C. H. Hill for Government, J. D. Cox and H. L. Burnett for Beggs. No. 216.-Steamer Lucille agt. Respass et al-Appeal from the Circuit Court for the District of Maryland.-This libel was filed by the appellees to recover damages for the total loss of the schooner Champion and cargo, belonging to them, occasioned by a collision with the steamer in the Chesapeake Bay. The decree was for the libelants. and it is here maintained that it should be reversed because of error in the finding of fact by the Court below that the schooser did not change her course when the collision was imminent. It is insisted that the testimony shows that the captain of the schooner ordered her helm to be put up just be fore the moment of collision, and that this was the cause of the accident. W. 8. Waters for appellants: W. S. Bryan and T. A. Setts for appellees. No. al. agt. Bank of Nateber et al-Appeal from the Circuit Court for the Southern District of Missiseppi.-This bill was fied by the appellees to foreclose a mortgage executed by Calboun and wife to secure three promissory noles made in favor of Given. Waits & Co. on premises situated in Natchez Miss., which notestand come into the hands of the appellees. Before accepting the security of the mortgage Given, Watts & Co. received of the Clerk of the Court the proper county certificate that there were no incumbrances on the property but upon the attempt to foreclose the receiver of the Bank of Natchez objected that Calhoun's title was not good. because the conteyance to him by one Ferguson. a former receiver of the bank was not in conformity with the order of the Court. and was therefore void. The deed recited that the money was paid in the usual language, and there was covenant of warranty. N.C., and the question is whether the deed being memediately recorded, and the property being clear of record. Watte. Given is Co. were chargeable with constructive notice that ne money was paid. because a note of Calhoun, for the amount of the purchase money was in the hands of the Receiver. and Calhoun had stated to the present Re. ceiver that he paid Re money. The Court below sustained the title of the appellees as purchasers for value, without notice and the question is for review here. P. Phillips for appellees. N. P. Harris for appellants. .