21498. Merchants' Bank of Alexandria (Alexandria, VA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
February 5, 1817
Location
Alexandria, Virginia (38.818, -77.082)

Metadata

Model
gpt-5-mini
Short Digest
1d887e4a

Response Measures

None

Description

Two notices (Feb 1817) state that the property, debts and effects of the Merchants' Bank of Alexandria were assigned and transferred by the late directors to subscribers in trust and trustees (Colin Auld et al.) are calling on debtors. This indicates the bank's affairs were placed in trust (effectively closed/assigned) rather than a depositor run. No mention of a run; this appears to be an assignment/closure handled by trustees (voluntary liquidation/assignment).

Events (1)
1. February 5, 1817 Suspension
Cause
Voluntary Liquidation
Cause Details
Directors assigned property, debts and effects to subscribers/trustees as recorded in deed of trust; affairs placed in trust rather than described as closed by government or by depositor run.
Newspaper Excerpt
THE Property, Debts and Effects of the MERCHANTS BANK of Alexandria, having been assigned and transferred, by the late Directors thereof, to the subscribers. in trust for certain purposes, as mentioned in the deed of record in the court books of Alexandria NOTICE is hereby given to the debtors of that institution to come forward and secure their respective debts, or make payment to Colin Auld, one of the Trustees
Source
newspapers

Newspaper Articles (2)
1. February 8, 1817 Alexandria Gazette, Commercial and Political Alexandria, VA
Article from Alexandria Gazette, Commercial and Political, February 8, 1817

Click image to open full size in new tab

Article Text

Notice. THE Property, Debts and Effects of the MERCHANTS BANK of Alex. andria, having been assigned and transferred, by the late Directors thereof, to the subscribers. in trast for certain purposes, as mentioned in the deed of recard in the court books of AlexandriaNOTICE is hereby given to the debtors of that institution to come forward and secure their respective debts, or make payment to Colin Auld, one of the Trustees, at his office, lower end of King st. Merchants' Bank Notes will be received in payment, as directed in the aid deed of trust. THIS. SWANN, EDM. 1. LEE, COLIN AULD. 7t February 5-4

2. February 12, 1817 Alexandria Gazette, Commercial and Political Alexandria, VA
Article from Alexandria Gazette, Commercial and Political, February 12, 1817

Click image to open full size in new tab

Article Text

Notice. THE Property, Debts and Effects of the MER HANT'S BANK of Alexandria, having been assigned and transferred, by the late Directors thereof, to the subscribers. in trast for certain purposes, as mentioned in the deed of recard in the court books of AlexandriaNOTICE is hereby given to the debtors of that institution to come forward and secure their respect ve debts, or make payment to Colin Auld, one of the Trustees, at his office, lower end of King st, Merchants' Bauk Notes will be received in payment, as directed in the said deed of trust. THS. SWAMN, EDM. I. LEE. COLIN AULD. 7t February S-4