Boatmen's Bank (St Louis, MO)

Episode Information

Episode UID
545204590694
Episode Type
Run Only
Bank Type
state
Bank ID
54520459 hash
Start Date
October 2, 1857
Location
St Louis, Missouri (38.627, -90.198)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
7aa018c29f8a40f0

Response Measures

None

Events (2)
1. October 2, 1857 Run
Cause
Local Banks
Cause Details
Failure/closures of local banking houses (Bogy & Multenberger and others) sparked runs on local banks including Boatmen's
Measures
Promptly met every dollar; paid withdrawals in full
Newspaper Excerpt
The German Savings and Boatmen's Banks, and Lucas & Co. had stood heavy runs and promptly met every dollar
Source
newspapers
2. October 6, 1857 Run
Cause
Local Banks
Cause Details
General panic and runs following failures and suspensions of other local banks
Measures
No suspension; continued to redeem payments
Newspaper Excerpt
A run on the Bank of Missourri, and on the Boatmen's and German Saving Institution has been made but there is no evidence of their suspending yet.
Source
newspapers

Newspaper Articles (2)
1. October 2, 1857 The Evansville Daily Journal Evansville, IN
Article from The Evansville Daily Journal, October 2, 1857

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Article Text

# Banking Intelligence by Mail. Our exchanges are most entirely filled with articles in relation to the financial condition of the country and reports of failures and suspensions. The storm has reached St. Louis at last, and the pressure there is beginning to be serious. On Tuesday morning. Messrs. Bogy & Multenberger, well known bankers of that city, closed their doors. It is said their assetts are ample. Cards signed by a large number of the wealthy citizens have been published guaranteeing the solvency of Messrs. Lucas & Co., and Renick & Peterson, and assuring depositors of the safety of their deposits. The failure of Bogy & Multenberger caused a general run on the brokers, and John Anderson & Co. suspended. Derby & Barksdale also closed doors. The German Savings and Boatmen's Banks, and Lucas & Co. had stood heavy runs and promptly met every dollar The panic in St. Louis is considered over. Money matters in Cincinnati continue tight. The New York Life and Trust Company Examining Committee have made a partial statement to the public, in which they say that the immediate cause of the failure was large advances to a Railroad Company, (the Cleveland & Pittsburgh.) the magnitude of which, it seems, is as much a surprise to the Directors of the Railroad as it is to the Trustees of the Bank. These advances have been chiefly since April, when the Trustees resident in New York made an examination of the office and a report upon it to the Board here. The Fox River Bank located at Green Bay has failed. Its capital was $50,000, and its circulation on the 1st of July last, $25,000, which was thus secured : Virginia 6's 10,000; Tennessee 6's $14,000; Missouri 6's, $3,000; specie $3,000. Total, $27,000. The People's Bank of Milwaukie and the Badger State Bank of Wisconsin, have also suspended. Two prominent banking houses in Burlington, Iowa, have failed. Money matters appear to be easy in Louisville-a dispatch from that point, dated Tuesday says: "heavy bank payments were promptly met to-day and the banks discounted freely. All Ohio money was thrown out."

2. October 10, 1857 Sunbury American Sunbury, PA
Article from Sunbury American, October 10, 1857

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Article Text

NEW YORK, Oct.-The bills of the Lee Bank, Massachusetts, Charter Oak, and Exchage Banks at Hartford Connecicut, and the Bank of Watertown, N. Y., have been thrown out. HARTFORD, Oct. 6.-The Charter Oak, Mercantile and Exchange Banks have suspended specie payments. The other banks of this place have resolved not to suspend. Bosron, Oct. 6.-At the instance of the Bank Commissioners a temporary injunction has been granted on the Western Bank of Springfield Mass. BOSTON, Oct. 6.- The monetary panic has entirely disappeared. There were no failures to-day. NEW ORLEANS, October 5.-Business is still restricted by the impossibility of selling exchange. Small sales of bills on New York have been made at 11 a 1. No sales of sterling have been reported. Sr. LOUIS, October 6.-A meeting of the merchants of this city was held at the Exchange yesterday to chusider [the currency question. Mr Henry the Bank commissioner of Illiuois made a statement of the condition of the Banks in that State which was generally regarded as satisfactory. A committee was appointed to report on the subject. This committee convened in the afternoon, but adjourned without coming to any difiniet conclusion. The vote on receiving currency at par stood tie. Previous to the adjournment a resolution was passed to petition the Legislature to issue no more bonds at present and to create a sinking fund for the payment of the interest on those already issued. At the other meeting at the Exchange held to-day, the announcement of of the suspension of Lucas & Co. created no excitement. The assets of the firm are ten times greater than their liabillities. At the meeting of mechants to-day a resolution to receive and pay out the bank currency of the State at par was adopted by an overwhelming vote. A run on the Bank of Missourri, and on the Boatmen's and German Saving Institution has been made but there is no evidence of their suspending yet. The regular banks continue in a strong condition. DETROIT, Oct. 6.-The Farmers and Me. chanic's Bank, of this city have been placed under an injunction by the Attorney General. PETERSBURG, Oct. 6.-The Express says it is rumored here this evening, that the Banks of Wilmington and Cape Fear, North Carolina, refused to redeem their notes yesterNay The Commercial Bank and Bank of the State redeemed everything. They are all said to be perfectly solvent.