Plymouth Bank (Plymouth, IN)

Episode Information

Episode UID
3798177690670
Episode Type
Suspension β†’ Closure
Bank Type
private
Bank ID
379817769 hash
Start Date
October 10, 1855
Location
Plymouth, Indiana (41.344, -86.310)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
7bcc11676dd932ae

Response Measures

None

Description

State auditor placed the bank among suspended banks and ordered sale of trust securities; later notices indicate liquidation.

Events (3)
1. October 10, 1855 Suspension
Cause
Government Action
Cause Details
State auditor identified Plymouth Bank as a suspended bank and ordered sale of pledged securities to redeem notes.
Newspaper Excerpt
SALE OF STOCKS OF SUSPENDED INDIANA BANKS.-The Indiana State Auditor gives notice that the securities held in trust for the redemption of the circulating notes of the Plymouth Bank, at Plymouth ... will be sold at auction ... on the 29th inst.
Source
newspapers
2. October 29, 1855 Other
Newspaper Excerpt
SPECIAL SALE... on account of Plymouth Bank at Plymouth. $5,000 Virginia State 6 per cent Coupon Bonds, January Coupon off. on account of Plymouth Bank at Plymouth. J. THOMPSON's Stock Auction Sales, on MONDAY, Oct. 29, at the Merchants' Exchange, at 12Β½ o'clock, by order of the Hon. H. E. Talbott, Auditor of the State of Indiana, for account of INDIANA SUSPENDED BANKS - on account of Plymouth Bank at Plymouth. $5,000 Virginia State 6 per cent Coupon Bonds ... All purchases must be paid for ... Office No. 2 Wall-st. J. THOMPSON.
Source
newspapers
3. April 23, 1856 Receivership
Newspaper Excerpt
The Auditor of the State of Indiana gives notice that the notes of the following Free Banks have been placed in liquidation ... Plymouth Bank.
Source
newspapers

Newspaper Articles (9)
1. August 31, 1853 The Ohio Union Ashland, OH
Article from The Ohio Union, August 31, 1853

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Article Text

.S. CABLE, JAMES B. BLOCKSOM, Secretaries. Look Out for Swindling Banks! We have seen several letters from the northern part of Indiana, complaining of the conduct of the Plymouth Bank, Marshall county. This is one of the Free Banks nominally located in Indiana, with a nominal Banking house, without funds. without a Director in the State, and without a Cashier. The Bank is owned and the business transacted in New York. We will give one instance of the workings of this new system of Banking, as practised by this institution. About the first of May last, a "merchant at Plymouth bought of this Bank a Draft on A. S. Foster, who is said to be the owner, No. 2S4, Pearl street, New York. The Draft, which was for the sum of $739 52 was presented, and returned protested. for non-payment. After begging, coaxing and threatening for some time, the merchant obtained $300 on the protested draft. Unable to get the remainder, he placed the note in the hands of an attorney for collection, who compromised the matter, and gave them an extension of one mouth on the remaining $450, including discount and cost of protest, &c. the Bank paying a bonus of for such extΓ©nsion. We are not well versed in the and we'should ing, very $29 like initificatios tokknow from of Bank- those that are, if this is consieered legitimate Banking. How long can a bank stand to pay $26 a month for the use of $450? This Bank has a circulation of $50,000, yet weare informed that the nominal President, has been in the habit of running around and borrowing ten dollars of Peter a d live of Paul, to redeem his shinplaster currency, when payment is demanded at the counter. Yet, in the last semi-annual report, the President reports under oath, $6,450 in gold, and $613 27 in silver, on hand. On being interrogated as to the reason why he was compelled to borrow a few dollars to redeem his paper issues, this sagacious financier replied that the spe cie was in New York! Now, where does e e the law require the specie to be kepi? In the vault of the Bank, and no where else. If At the Bank the holder of the notes has a 0 right to demand specie, and no other place. e The holder of a note presents it for pay. ment at the counter of A. S. Foster, in I New York, and he is told that the law on g ly requires him to redeem the notes a n the Plymouth Bank in Indiana, but he can be accommodated if he will submit to a 11 shave. At the Plymouth Bank he is told n that the specie is in New York. This is evading the law, and the Bank is rotten at the core which is compelled to resort to g such stratagems. We caution the public e against the concern. Tonch not the filthy rags!

2. December 6, 1854 The Cadiz Democratic Sentinel Cadiz, OH
Article from The Cadiz Democratic Sentinel, December 6, 1854

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Article Text

suspended within a few months past. For the benefit of our readers, in these times of bank suspensions, we shall keep it standing, and make weekly additions thereto: Lewis County Bank, of New York. Carthage Bank, do Milrose Bank, do Drovers' Bank, do Bank of Carmel, do Ogdensburg, do Exchange Bank Buffalo, do Patchin Bank, Buffalo, do Eighth Avenue Bank, do Bank of West Killingly, Connecticut. Bank of Ellsworth, Maine. Bank of Circleville, Ohio. Clinton Bank of Columbus, Ohio. Canal Bank of Cleveland, do. Miami Bank, Dayton, do. Woodbury Bank, Connecticut. Shipbuilders' Bank, Maine. Merchants' and Mechanics's Bank, Chicago. Union Bank, Chicago, Ill. Knickerbocker Bank, do Farmers' Joint Stock Bank, Buffalo, N. Y. Farmers' and Mechanics' Bank, Oswego. Farmers' Bank of Canandaigua. Farmers' and Merchants' Bank, Maryland. Merchants' Bank of Macon, Georgia. Milford Bank, Deleware. Merchants' Bank Burlington, Vermont. River Bank Connecticut. Cumberland Bank, Maine. Kentucky Trust Company Bank, Covington. Newport Safety Fund, Covington, Ky. Commercial Bank, Paducah, Kentucky. Trans Allegheny Bank, Virginia. Kanawha Bank, Va. Massillon Bank, Ohio. Ohio Savings Institute, Tiffin. Cochitute Bank, Boston. Elkhart county Bank, Indiana. Bank of Northern Indiana. Bank of Washtenaw, Michigan. Erie and Kalamazoo Bank, Michigan. Arlington Bank, Washington, D. C. Bank of Connersville, Indiana. Bank of Hallowell, Maine. Akron Branch, Ohio. Merchants and Trader's Branch, Cin., O. City Bank, Columbus, Ohio. Commercial Branch, Toledo, Ohio. Ashtabula Branch, Ohio. Napersville Bank, Illinois. Merchants Bank, Bridgeton. Government Stock Bank, Ann Harbor, Mich. Cuyahoga Falls Branch Bank, O. Licking Branch Bank, Ohio. PhΕ“nix Bank, Chicago, Illinois. Du Page county Bank, Illinois. Bank of Ottawa, Illinois. State Stock Bank, Peru, Indiana. Stock Bank, Lafayette, Ind. Bank of Elkhart, " Plymouth Bank, " Fayette county Bank, " Delaware county Bank, " Logansport Insurance Company, Indiana. Indiana Stock Bank, Laport. Savings Bank, Cincinnati. Scituate Bank, Rhode Island. Wollborough Bank, New Hampshire. Bennington Bank, Vermont. Mousum River Bank, Maine. Bank of Ellsworth, " Bank of Milford, Delaware.

3. January 11, 1855 The Daily Minnesota Pioneer Saint Paul, MN
Article from The Daily Minnesota Pioneer, January 11, 1855

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Article Text

From the Crawfordsville Review. The Free Banks of Indiana. The following list of Free Banks of Indiana were reported in the recent Convention at Indianapolis, as specie paying banks: Hoosier Bank, Logansport; Prairie City Bank; Indiana Stock Bank, Laporte; Gramercy Bank; Western Bank, Plymouth; Canal Bank, Evansville; Fayette County Bank; Lagrange Bank; Bank of Indiana, Michigan City; Bank of Syracuse; Cambridge City Bank; Bank of Rockville; Salem Bank; Bank of Monticello; Crescent City Bank; Central Bank, Indianapolis, Indiana Bank, Madison; Bank of Goshen; Bank of Salem; Farmer's Bank of Westfield; Keutucky Stock Bank; Kalamazoo Bank; Bank of Warsaw; Bank of Mount Vernon; Bank of Paoli; Bank of Elkhart; Merch. and Mechanic's Bank, N. Albany. Bank of the Capitol; Trader's Bank, Indianapolis; N. Y. & Virginia Steck Bank, Evansville; Farm's & Mech's Bank, Indianapolis. The following resolution among others was adopted: Resolved, That we will receive and pay out the notes of the banks represented in this Convention as specie paying banks in all business transactions, and that we will in no case treat as par funds, the issues of any suspended bank whatever. The above list comprises all the banks covered by the foregoing resolution. It is thought that twenty or thirty more banks will acquiesce in the arrangements in a :week or two. Here is a list of those which the Indianapolis Journal says "have no place of doing business,-no owners in fact that anybody can find,-and don't redeem their paper in coin, currency, or exchange." Bank of America, Morocco; Bank of Connersville, Connersville: Drover's Bank, Rome; Elkhart county Bank, Goshen; Merchant's Bank, Lafayette; Orange Bank, Poseyville; Merchant's Bank, Springfield; Northern Indiana Bank, Logansport; Plymouth Bank, Plymouth: State Stock Bank, Logansport; " Peru; Trader's Bank, Terre Hante.

4. January 18, 1855 Plymouth Banner Plymouth, IN
Article from Plymouth Banner, January 18, 1855

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Article Text

From the State Journal. Indiana Free Banks. CORRECTED WEEKLY. WEDNESDAY Evening, Jan. 10. The Bank of the Capitol and the Farmers and Mechanics' Bank to-day receive on deposit at par, only the bills of the following named Banks: CLASS NO. 1. Bank of Indiana, Michigan City, Bank of Syracuse, Syracuse. Bank of Rockville, Rockville. Bank of the Capitol, Indianapolis. Bank of Salem, (south,) Salem. Bank of Brookville, Brookville. Bank of Monticello, Monticello. Bank of Goshen, Goshen. Bank of Elkhart, Elkhart. Bank of Mt. Vernon, Mt. Vernon, Bank of Warsaw, Warsaw, Cambridge City Bank, Cambridge. Central Bank, Indianapolis. Central Bank, Evansville. Crescent City Bank, Evansville. Farmers Bank, Westfield. Farmers & Mechanics Bank, Indianapolis. Fayette County Bank, Connersville. Grammercy Bank, Lafayette. Government Stock Bank, " Hoosier Bank, Logansport. Indiana Bank, Madison. Indiana Stock Bank, Laporte. Kalamazoo Bank, Albion. Kentucky Stock Bank, Columbus. Lagrange Bank, Lima. Laurel Bank, Laurel. Merchants and Mechanics Bank, New Albany. New York and Virginia State Stock Bank, Evansville. Prairie City Bank, Terre Haute. Salem Bank, (north) Salem. Southern Bank of Indiana, Terre Haute. Savings Bank, Connersville. Traders bank, Indianapolis. CLASS NO. 2. Agricultural Bank, Mt. Sterling. Bank of Rochester, Rochester. Bank of Rensselear, Rensselear. Bank of Rockport, Rockport. Bank of Perrysville, Perrysville. Bank of Attica, Attica. Bank of North America, Clinton. Delaware County Bank, Muncie. Farmers and Mechanics Bank, Rensselear. Green County Bank, Bloomfield. Huntington county Bank, Huntington. Indiana Reserve Bank, Kokomo. N. Y. State Stock Bank, Vincennes. Perry Co. B'k, Cannelton. Pub. Stock Bk, Newport. People's Bk, Lima, Lima. Shawnee Bk, Attica, State Stock Bk, Jamestown. State Stock Security Bk, Newport. State Stock Bk, Marion. Syracuse Bk, Syracuse. Trader's Bk, Nashville. Tippecanoe Bk, Winnemac. Wabash River Bk, Jasper. Wabash River Bk, Newville. Wabash River Bk, New Corrydon. Wabash Valley Bk, Logansport. Western Bk, Plymouth. The First Class embraces those which redeem their bills in coin. The Second comprises those which have, at times, declined to pay Brokers and "Bank runners," but which are based on 5 per cent. stocks, and whose proprietors give care and attention to them. Many of our business men have restricted their receipts to the First Class. Others are gradually curtailing the Second Class, and it is probable that, in a short time, all which are not by their owners made equal to those in the First Class by prompt redemption of their notes in specie, will be rejected as uncurrent. The following named Banks are those which, it is understood, make no payment of their notes to any one, and which are, most of them, secured by 5 per cent. Indiana Bonds. The discount at which their paper will be received, will depend on the selling price of their stocks in New York. The following portion of the Third Class have been taken to-day on deposit at the Bank of the Capitol and the Farmers' and Mechanics' Bank, at FIFTEEN PER CENT. DISCOUNT. Bank of Covington, Covington. Bank of South Bend, South Bend. Bank of Fort Wayne, Fort Wayne. Elkhart Co. Bank, Goshen. Farmers' Bank, Jasper. Northwestern Bank, Bloomfield. Steuben Co. Bank, Angola. Upper Wabash Bank, Wabash. Wayne Bank, Logansport. Wayne Bank, Richmond. Great Western Bank, Terre Haute. Starke Co. Bank, Knox. The following named have been received on deposit to-day at the Bank of the Capitol and the Farmers' and Mechanics' Bank, at THIRTY PER CENT. DISCOUNT. Bank of Albany, New Albany. Bank of T. Wadsworth, Michigan City. Bank of North America, Newport. Bank of Auburn, Auburn. Atlantic Bank, Jackson. Bank of Albion, Albion. Bank of Connersville, Connersville. Bank of America, Morocco. Bank of Bridgeport, Bridgeport. Drovers' Bank, Rome. Merchants' Bank, Springfield. Merchants' Bank, Lafayette. Northern Indiana Bank, Logansport. Orange Bank, Poseyville. Plymouth Bank, Plymouth. State Stock Bank, Logansport. State Stock Bank, Peru. Traders' Bank, Terre Haute.

5. October 10, 1855 Daily Davenport Gazette Davenport, IA
Article from Daily Davenport Gazette, October 10, 1855

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SALE OF STOCKS OF SUSPENDED INDIANA BANKS.-The Indiana State Auditor gives notice that the securities held in trust for the redemption of the circulating notes of the Plymouth Bank, at Plymouth; State Stock Security Bank, at Newport; Traders' Bank, at Terre Haute; Drovers' Bank, at Rome; Farmers' Bank, at Sterling: Agricultural Bank, at Mount Sterling; and New York Stock Bank, at Vincennes-all of Indiana-will be sold at soction at the Merchants' Exchange, New York city, at noon on the 29th inst. These securities consist sist of Indiana and Pennsylvania fives and Virginia and Louisiana sixes.

6. October 11, 1855 The Daily Gate City Keokuk, IA
Article from The Daily Gate City, October 11, 1855

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Indiana Suspended Banks. The State Auditor has given notice that he shall, on the 29th instant, at noon, sell at auction, at the Merchants' Exchange, New York, the securities held in trust for the redemption of the notes of the following banks, viz: Plymouth Bank, at Plymouth ; State Stock Security Bank, at Newport; Traders' Bank, at Terre Haute : Drovers' Bank, at Keene; Farmers' Bank, at Vincennes.β€” The securities consist of Indiana and Pennsylvania fives, and Virginia and Louisiana sixes.

7. October 27, 1855 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, October 27, 1855

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Financial R W. LATHAM. Auctioneer. PECIAL SALE-By order of the Hon. H. E. Tabett. Auditor of the State of Indiana. for account of INDIANA SUSPENDED BANKS.-1. THOMPSON'S Stock Auction Sales, on MONDAY, Oct. 29, at the Merchants' Exchange, at 12} o'clock, on account of New-York Stock Bank at Viscennes. $3 000 Virginia State 6 per cent Conpon Bonds. January Conpen off. on account of Plymouth Bank at Plymouth. $3,500 Indiana State 5 per cent stock. interest from let July, 1855 on account efthe Arricultural Bank. $2 tos Virginia per cent Couson Bonds, January Coupon off. $1 000 Louisiana State Bonds interest from 1st December, 1855. on account of State Stock Security Bank. $3,000 Indiana State 5 per cent Scock, interest from 1st July, 1855. on accenst ofthe Traders' Bank at Terre Hante. $2,160 Indiana State 5 per cent Stock, interest from let July, 1855. on sceennt of Drovers' Barl at Rome. $3,000 Indiana State 5 per cent Stock, interest from 1st July, 1855, en account of Farmers' Bank at Jasper. $3,000 Indiana State 5 per cent Stock, interest from let July, 1855, $3,500 Pennsylvania 5 per cents, with interest from let of August, 1855, All nurchases retast be paid for on or before 1 e'clock of the day after the sale. When purchases are made for account of parties out of the city, 10 per cent will be required on the day of sale, and six days' grace given (adding interest) on the baiance. The secrued interest will go to the purchaser (the same as at the Board of Brokers,) except when otherwise stated. Office J. THOMPSON. No. 2 Wall-st.

8. October 29, 1855 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, October 29, 1855

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R. W. LATHAM, Auctioneer. # SPECIAL SALE. By order of the Hon. H E. Tabott, Auditor of the State of Indiana for account of INDIANA SUSPENDED BANKS.-J. THOMPSON's Stock Auction Sales, on MONDAY, Oct. 29, at the Merchants' Exchange, at 12Β½ o'clock, on account of New-York Stock Bank at Vir cennes. $5 000 Virginia State 6 per cent Coupon Bonds, January Coupon off. on account of Plymouth Bank at Plymouth. $3.500 Indians State 5 per cent Stock, interest from 1st July, 1855 on account of the Agricultural Bank. $2100 Virginia 6 per cent Coupon Bonds, January Coupon off. $1 000 Louisiana State Bonds interest from 1st December, 1855, on account of State Stock Security Bank. $3,000 Indiana State 5 per cent Stock, interest from 1st July, 185, on account of the Traders' Bank at Terre Haute. $240 Indiana State 5 per cent Stock, interest from 1st July, 1854, on account of Drovers' Bank at Rome. $3.000 Indiana State 5 per cent Stock, interest from 1st July, 1855, on account of Farmers' Bank at Jasper. $3.000 Indiana State 5 per cent Stock, interest from 1st July, 1856. $3,500 Pennsylvania 5 per cents, with interest from 1st of August, 1855. All purchases must be paid for on or before 1 o'clock of the day after the sale. When purchases are made for account of parties out of the city, 10 per cent will be required on the day of sale, and six days' grace given (adding interest) on the balance. The accrued interest will go to the purchaser (the same as at the Board of Brokers,) except when otherwise stated. Office No. 2 Wall-st. J. THOMPSON.

9. April 23, 1856 The Daily Gate City Keokuk, IA
Article from The Daily Gate City, April 23, 1856

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News of the Morning. ARRIVAL OF THE AFRICA.-The Africa arrived on the 19th. Peace Conference still sitting, considering minor details. Paris has been illuminated in honor of the peace, and the Orleanists and Legitimists took a part in the illumination. No news of importance from any quarter. Markets active. Iron in good demand. Provisions unchanged. The President and several members of the Cabinet visited Annapolis on the 18th.They were received by citizens in the Senate Chamber of the State House. Mr. Pierce replied in a happy manner. The next day, in company with the Governor and Secretary of State of Maryland, with other officials, they inspected the Naval Academy. Milton L. Latham was unanimously confirmed Collector of San Francisco on the 19th. The South Americans have carried the city of Augusta, Ga, at the charter election. SPECIAL Tax.-The City Council has ordered a vote to be taken on the 30th inst., to authorize the levying of a special tax. We are requested to state that this order was passed not because the Council has determined upon, or even contemplates, any unusual or extraordinary appropriations for any purpose, during the ensuing year. The object is to provide against contingencies. It may happen that the Council will need more means than are at present provided, and in such case the law makes it necessary that the election ordered should be held by the time specified. If the vote should be in the affirmative, the Council will then be clothed with the necessary power, and can then exercise its discretion. We observe that the Mayor's proclamation does not prescribe the form of the ballots. The Auditor of the State of Indiana gives notice that the notes of the following Free Banks have been placed in liquidation, and gives notice to the holders of the notes of said banks to have them at his office for redemption on or before the first day of Oetober next: Traders' Bank at Nashville: Elkhart Co. Bank: Bank of Connersville: Bank of Attica; State Stock Bank of Indiana at Peru; Wabash Valley Bank : Bank of America, at Morocco: Bank of Albany; Bank of Bridgeport; Laurel; Orange Bank Green County Bank; Atlantic Bank; Bank of T. Wadeworth; Traders' Bank at Terre Haute; Drovers' Bank at Rome: Farmers' Bank at Jasper; New York Stock Bank at Vincennes; Plymouth Bank. The Keokuk Post (Republican) comes to us with triumphant rejoicings over a great victory gained over the Democracy of that city, who insisted upon running a ticket at the municipal election, upon strict party grounds. The Independent or opposition ticket was elected by a strong majority.[Dubuque Republican. The Keokuk Post pretends to be independent, but is at least anti-Republican, whatever else it may be, and didn't rejeice very much over the election. The Times is the regular, and the Post is the irregular, Locofoce paper in this city. The Gate City is the only "Republican" journal.