W. H. Warren (New York, NY)

Episode Information

Episode UID
3855925190885
Episode Type
Suspension → Closure
Bank Type
private
Bank ID
385592519 hash
Start Date
September 19, 1873
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
9da2d3ef21f74f7e

Response Measures

None

Description

Contemporary reports list W. H. Warren among suspended/failed houses during the Sept. 1873 panic but no article confirms a later reopening.

Events (1)
1. September 19, 1873 Suspension
Cause
Macro News
Cause Details
Part of the widespread panic triggered by Jay Cooke & Co.'s failure and consequent runs/suspensions across New York in September 1873
Newspaper Excerpt
the followingadditional failures are reported: Thomas Reed & Co., W. H. Warren, Greenleaf & Norris
Source
newspapers

Newspaper Articles (3)
1. September 20, 1873 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, September 20, 1873

Click image to open full size in new tab

Article Text

[Associated Press telegrams. NEW YORK, September 19. - Fisk & Hatch have suspended, also Robinson & Suydam, Richard Schell; White, Defrees & Rathbone, Bouis & Edwards, and Eugene Jackson. George Opdyke & Co. have not suspended. The wildest excitement followed the announcement of the failure of Fisk & Hatch. Wall street was in its shirt-sleeves and bareheaded. Stocks fell ten per cent., and are still sinking. De Haven & Co., of Philadelphia, have failed. NEW YORK, September .-The followingadditional failures are reported: Thomas Reed & Co., W. H. Warren, Greenleaf & Norris, George B. Alley, Thomas Biddle, A. M. Kidder. Western Union Telegraph stock opened at 78; it is now 68}. Like fluctuations in the whole list. WASHINGTON, September 19. 1 Dispatches from all cities report long lines of depositors crowding the bank doors. In this city there is no exceptior. NEW YORK, September 19.-Jay Cooke & Co. have assurances from their London house and correspondents in other cities that their bills will be protected. WASHINGTON, September -There is quite a rush on the Washington City Savings Bank and a slight demonstration on the Freedmen's Bank. Both give assurance of their ability to meet all demands. The Freedmen's Savings Bank report they had this morning $80,000, of which only $20,000 had been drawn. There are about seventytive persons in the line at this bank. There is no excitement about other banks. NEW YORK, September 19.-Fi-k & Hatch say their suspension is but temporary. Their advances are upon the Chesapeake and Ohio railroad and the Central Pacific. They expect to resume as soon as the panic ceases. Their office is strongly guarded by the police. Fitch & Co. and Versou & Hoy have suspended. A prominent Street broker says if

2. September 20, 1873 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, September 20, 1873

Click image to open full size in new tab

Article Text

e London house unlike those of the American branches are not all due on demand, but at regular well known dates, so that they know exactly how much money is needed each week. MORE NATLURES AND RUNS. NEW YORK, Sept. 19.-Day & Morse and Hay & Warner have suspended. PHILADELPHIA, Sept. 10.-Dehaven & Bro. have failed. NEW YORR, Sept. 19.-Everbody now on the street seems to have his own story and the unscrupulous have no hesitation in proclaiming in trouble firms that are standing up nobly. V. Vermilye & Co. were thus alluded to, but W. R. Ver0 milye pronounced the story baseless. He e adds, however, that if the movement now making to get the Secretary of the Treasury to come to the relief of the market with about ten million should fail, it of would not surprise him if there would be ir a general suspension of banks. RELIEF FROM THE TREASURY. The firm of Fitch & Co. is added to the d 11st of suspensions, and this was soon folst lowed by the announcement that Hay & Warner, Day & Morse, A. M. Kidder, George B. Allen, Greenleaf & Norris, W. h H. Warren, Thomas Reed & Co. and E. to J. Jackson & Co. had failed. e The run upon the Union Trust Comt. pany continues, but up to this hour (1:80 P. M.) the bank met all demands. y A rumor was in circulation that a run y

3. September 25, 1873 Yorkville Enquirer York, SC
Article from Yorkville Enquirer, September 25, 1873

Click image to open full size in new tab

Article Text

MONEY PANIC IN NEW YORK. The extensive banking house of Jay Cooke & Co., failed to meet its engagements on the 18th instant. The immediate cause of the suspension is stated to be the large drawings on them by their Philadelphia house and their own depositors. During the two weeks preceeding the suspension, both houses had suffered a large drain upon their deposits in consequence of the uneasy feeling which has recently prevailed, and which has affected more or less all houses closely identified with new railroad enterprises. The Philadelphia house had been previously weakened by a large cash advance to the Northern Pacific Railroad Company of which they are financial agents. The next day after the suspension of Jay Cooke & Co., the following suspensions of New York banking houses were announced : Robinson & Snydam, Richard Schell, Fisk & Hatch, White, Dufrees & Rathbone, Burt & Edwards, Eugene Jackson, Thos. Reed & Co., W. H. Warren, Greenleaf & Norris, Geo. B. Alley, Theodore Biddle, A. M. Kidder, Whittemore & Anderson, Smith, Seaver & Co., Saxe & Rogers, National Bank of the Commonwealth, Quasig & Fisher, P. M. Meyers, Miller & Walsh, Laurens Joseph, Fearing & Dillenger and Brown, Wadsworth the houses in the northern cities ing & Co. Besides above, several have other closed bankdoors or suspended, including banks in Philadelphia, Albany, Washington City and Toronto, Canada. The panic in the cities north of Baltimore is general, and a run has been made by the depositors upon nearly all of the banks. In New York, on Friday, there was a crowd around every paying teller's desk. The panic has not as yet reached the South, nor is there any reason why it should. The grain and provision markets of the North and West are all unsettled, though the price of the southern staple in the New York market has not been materially affected, the panic having come at the most favorable time for the cotton planters-just at the commencement of the season-and before much of the crop had been put in market. The calamities which are threatened by the of the general can prospect suspension purchasing be partially averted by the government five millions dollars worth of bonds, which will furnish the banks with a sufficient amount of legal tenders to enable them to resume business. The latest rumor is to the effect that this plan will be resorted to, and that the government will buy half a million of bonds. The Bank Presidents have determined to issue immediately $10,000,000 in loan certificates. The latest intelligence from New York indicates an easier feeling among all classes,