gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
66fe5ab4a310e3b3
Response Measures
None
Description
Newspapers report assignment (transfer to assignee) following suspension, implying permanent closure/receivership.
Events (3)
1.August 1, 1885Suspension
Cause
Bank Specific Adverse Info
Cause Details
Embarrassed by excessive loans to the Suffolk Cotton Mill and by losses from a recent fire; already weakened by earlier bank troubles.
Newspaper Excerpt
The Commercial bank of Suffolk suspended to-day. It is stated that the bank has been embarrassed since the bank troubles here in April, and was also embarrassed by excessive loans to the Suffolk cotton mill, and by losses from the recent fire in Suffolk.
Source
newspapers
2.August 2, 1885Other
Newspaper Excerpt
It is thought in Suffolk that the depositors will be paid in full. All assignment will probably be made to-morrow.
Source
newspapers
3.August 2, 1885Receivership
Newspaper Excerpt
All assignment will probably be made to-morrow.
Source
newspapers
Newspaper Articles (10)
1.August 2, 1885Savannah Morning NewsSavannah, GA
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Article Text
SUSPENSION OF A BANK. Embarrassment of Other Enterprises Causes the Crash. NORFOLK, VA., Aug. 1.-The Commercial bank of Suffolk suspended to-day. It 18 stated that the bank has been embarrassed since the bank troubles here in April, and was also embarrassed by excessive loans to the Suffolk cotton mill, and by losses from the recent fire in Suffolk. The deposits in the bank are said to amount to about $100,000.
2.August 2, 1885The Democratic LeaderCheyenne, WY
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Article Text
A Busted Bank. NORFOLK, Va., Aug. 1.-The Commercial bank of Suffolk, suspended to-day. It is stated that the bank was embarrassed by excessive loans to the Suffolk cotton mills and by losses from the recent fire in Suffolk. The deposits are about $100,000.
3.August 2, 1885St. Paul Daily GlobeSaint Paul, MN
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Article Text
Bank Failure. NORFOLK, Va., Aug. 1.-The Commercial Bank of Suffolk suspended toIt is stated that the day. bank was embarrassed by excessive loans to the Suffolk cotton mill and from losses from the recent fire in Suffolk. The deposits are about $100,000.
4.August 2, 1885The Indianapolis JournalIndianapolis, IN
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Article Text
Failure of a Virginia Bank. NORFOLK, Va. Aug. 1.-The Commercial Bank of Suffolk suspended to-day. It is stated the bank was embarrassed by excessive loans to the Suffolk cotton mill, and by losses from the recent fire in Suffolk. The deposits are about $100,000.
5.August 2, 1885The Salt Lake HeraldSalt Lake City, UT
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Article Text
Suspended. NORFOLK, Va., August 1.-The com mercial Bank of Suffolk suspended to day. It is stated that the bank was embarrassed bv excessive loans to the Suffolk Cotton Mill, and by losses from fire in Suffolk. The deposits are about $100,000. TGG
6.August 2, 1885Seattle Daily Post-IntelligencerSeattle, WA
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Article Text
They Didn't Race. CHICAGO, Aug. 1. - At Chittenham Beach tonight W. S. Smith and A. L. Talbot ascended in two balloons for 8 race in mid air. When a height of 1200 feet had been reached the mashines collapsed. Talbot eame down with his wreek comparatively uninjured, but Smith fell the whole disliance, striking some telegraph wires before reaching the earth. He still lives, but will die. Bank Suspension. NORFOLK, Va., Aug. 1.-The Commercial Bank of Suffolk suspended today. It is stated that the bank was embar rassed by excessive loans to the Suffolk Cetton Mill, and by losses from the recent fire in Suffolk. The deposits are about $100,000.
7.August 2, 1885Richmond DispatchRichmond, VA
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Article Text
BaukAuspension at Suffolk. (By telegraph to the Dispatch.) NORFOLK, va., August 1.-The Commercial Bank of Suffolk suspended to-day. It is stated that the bank has been embarrassed since the bank troubles here in April, and was also embarrassed by excessive loans to the Suffolk Cotton-Mill and by losses from the recent fire in Suffolk. The deposits in the bank are said to amount to about $100,000.
8.August 2, 1885The SunNew York, NY
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Article Text
Suspension of a Bank. NORFOLK. Aug. 1.-The Commercial Bank at Suffolk, Va., suspended to-day. The bank was embarrassed by excessive loans to the Suffolk Cotton Mill and by losses from the recent fire in Suffolk. The deposits are said to amount to about $100,000.
9.August 3, 1885Savannah Morning NewsSavannah, GA
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Article Text
Norfolk's Broken Bank. NORFOLK. VA., Aug. 2.-The suspension yesterday of the Commercial Bank of Suffolk created no excitement here. It is thought in Suffolk that the depositors will be paid in full. All assignment will probably be made to-morrow.
A Virginia Bank Suspends, NORFOLK, VA., Aug. 2.-The Commercial bank of Suffolk has suspended. It is stated that the bank was embarrassed by excessive loans to the Suffolk cotton mill and by losses from the recent tire in Suffolk. The deposits are about $100,000.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.