Central Bank - New Ulm, MN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 29, 1861
Location: New Ulm, Minnesota (44.312, -94.461)

Metadata

Model: gpt-5-mini
Short Digest: b7c92f4a

Response Measures

None

Description

Article (Chicago Daily Tribune, published 1861-07-01) reports that the suspension of correspondent/owner J. J. Knox & Co. at St. Paul carries down the Central Bank of New Ulm. No explicit run is described; the bank is implied to have suspended/failed as consequence of its owner's suspension. Bank type not specified in text.

Events (1)

1. June 29, 1861 Suspension

Cause: Correspondent
Cause Details: Suspension/failure of correspondent and owner J. J. Knox & Co. in St. Paul carried down the Central Bank of New Ulm.
Newspaper Excerpt: This carries down the Central Bank of New Ulm, owned by them, with a circulation of $16,200, secured by $27,000 of
Source: newspapers

Newspaper Articles (1)

1. July 1, 1861 Chicago Daily Tribune Chicago, IL

Article from Chicago Daily Tribune, July 1, 1861

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Article Text

Bank Failure at St. Paul, Minn. ST. PAUL, June 29.-The banking house of J. J. Knox & Co., one of the principal banks in this city, has suspended. Liabilities not very large. This carries do wn the Central Bank of New Ulm. owned by them, with a circulation of $16,200, tecur d by $27,000 of