Manufacturers Bank (Macon, GA)

Episode Information

Episode UID
6146055290731
Episode Type
Suspension โ†’ Closure
Bank Type
state
Bank ID
614605529 hash
Start Date
November 26, 1860
Location
Macon, Georgia (32.841, -83.632)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
6cd0068d06379adc

Response Measures

None

Description

Contemporary reports indicate the suspension likely led to winding up; no run is described.

Events (1)

1. November 26, 1860 Suspension
Cause
Macro News
Cause Details
Part of a wave of bank suspensions across Georgia with business described as 'prostrate' and brokers refusing out-of-state bills.
Newspaper Excerpt
The Manufacturers' Bank of Macon suspended this morning.
Source
newspapers

Newspaper Articles (10)

Article from The New York Herald, November 27, 1860

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Article Text

BANK SUSPENSIONS IN GEORGIA. MACON, Ga, Nov. 26, 1860. The Manufacturers' Bank of Macon suspended this morning Business is prostrate everywhere. It is whispered that there will be many heavy failures in Savannah this week. SUSPENSION OF THE TENNESSEE BANKS. NASHVILLE, Nov. 26, 1860 The State Bank and all the principal banks in Tennessee suspended this morning-


Article from The New York Herald, November 27, 1860

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Article Text

BANK SUSPENSIONS IN GEORGIA MACON, Ga, Nov. 26, 1860. THE BILL LEGALISING SUSPENSIONS PASSED BY THE HOUSE, ETC. The Manufacturers' Bank of Macon suspended this morning. The bill legalising bank suspensions passed the House to-day. It will be vetood by the Governor, but be again passed over the veto. All the Georgia banks will then most probably suspend. It is whispered there will be many heavy failures in Savannah this week. Business 16 prostrate everywhere. EXCHANGE ON NEW YORK. AUGUSTA, Ga., Nov. 23, 1860. The banks to day advanced their rates for sight drafts on New York to a half per cent premium.


Article from New-York Daily Tribune, November 27, 1860

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Article Text

Bank Suspension in Georgia. MACON, Ga., Monday, Nov. 26, 1860. The Manufacturers' Bank of Macon suspended this morning. Business is prostrate everywhere. It is whispered that there will be many heavy failures in Savannah this week.


Article from The National Republican, November 28, 1860

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Article Text

BANK SUSPENSION IN GEORGIA. Macon, Nov. 26.-The Manufacturers' Bank of Macon suspended this morning. I EXTRADITION CASE. I | I , 1 I I : I 1


Article from New-York Daily Tribune, November 28, 1860

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Article Text

In the present position of affairs the following table, comparing the position of the Banks for the corresponding weeks of the four past years, will be of interest: 1880. 1859. 1858. 1857. Nov. 24. Nov. 26. Nov. 27. Nov. 28. 121,518,454 121,423.164 125,585,698 Loans $94,963,130 18,759,373 18,831,924 27,157,731 24,303,144 Specie 8,270,278 8,968,442 7,652,457 6,520,783 Circulation 74,035,799 73,562,173 88,716,975 64,307,380 Net Deposits.. 25,580,807 23,517,886 Exchanges 19,866,258 15,201,845 Pr.et. of Coin to 22.60-100 23.01-100 28.20-100 34.31-100 net liability. A telegraphic dispatch from Macon announces the suspension yesterday of the Manufacturers' Bank of that city. There was a slight run yesterday on the Newark banks, but it has subsided. From Boston we hear that money matters are becoming easier, the banks having adopted measures which have enabled them to discount liberally. We are getting some small amounts of gold from Boston, and losing some to Philadelphia. The domestic movement of gold is quite light. There was a rumor that $300,000 had been received from the South, but upon inquiry at the express offices we learn that no gold had been received. The Bank Exchange Committee have no bills offered them, and their mission is practically at an end, having accomplished the object for which they were established, giving action and vitality to the Exchange market. The Committee have bought less than ยฃ50,000 altogether. The Second Avenue Railroad Company Coupons due 1st December will be paid on and after that day at the office of Messrs. Wm. & John O'Brien, No. 29 Wall street. We annex a comparative statement of the exports (exclusive of specie) from New-York to foreign ports, for the week and since Jan. 1:


Article from Evening Star, November 28, 1860

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Article Text

Bank Suspensions in Georgia. MACON, Nov. 26.-The Manufactures' Bank of Macon suspended this morning. Business is prostrate everywhere. Itis whispered that there will be many heavy failures in Savannah this week.


Article from Richmond Daily Whig, November 28, 1860

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Article Text

AUGUSTA, Nov. 27.-The Brokers buy no bills of banks outside of Georgia. The Manufacturers Bank at Macon has suspended and will probably wind up. SOUTH CAROLINA LEGISLATURE. - W of


Article from New Orleans Daily Crescent, November 29, 1860

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Article Text

DOMESTIC INTELLIGENCE. Bank Suspensions in Charleston. CHARLESTON, Nov. -The State Bank of South Carolina, the Bank of the State of South Carolina and the Railroad Bank, all suspended specie payments to-day. The Planters' and Mechanics' Bank will surely suspend to-morrow. New York Money Market. NEW YORK, Nov. 28.-The money market is lightening up, and transactions are carried on with more energy. Sterling exchange ruled firm to-day at 105, the asking price for bankers' bills. Sterling Bxchange. NEW YORK, Nov. 27.-Sterling rules steady, with a fair demand. Bunkers' bills are selling at 103@ 104, and commercial do. at 101@102. Action of the Georgia Brokers. AUGUSTA, GA., Nov. 27.-The money brokers here refuse to buy bills on all banks outside the State of Georgia. Bank Suspension in Macon, Ga. MACON, GA., Nov. 27.-The Manufacturers' Bank of Macon has suspended specie payment, and will probably wind up.


Article from The Athens Post, December 7, 1860

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Article Text

Georgia and South Carolina Banks all suspended specie payments, Manufacturers' Bank, Macon, gone under.


Article from The Athens Post, December 7, 1860

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Article Text

Suspension of the Manufactures' Bank. The Macon "Telegraph" says that this bank has redeemed $100,000 of its bills, within the last two weeks, and at the same time has paid off nearly its entire deposite account amounting to $100,000 more. Its circulation is now about $150,000 which is expected to come in and be taken up in the collection of debts due the bank during the present winter.