Marine Bank (New York, NY)

Episode Information

Episode UID
6726817890694
Episode Type
Run → Suspension → Reopening
Bank Type
state
Bank ID
672681789 hash
Start Date
October 12, 1857
Location
New York, New York (40.714, -74.006)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
6a0ee836027c85d3

Response Measures

None

Description

The bank suspended specie payments during the Panic of 1857 but resumed general business operations almost immediately after the city-wide suspension.

Events (3)
1. October 12, 1857 Run
Cause
Macro News
Cause Details
General financial stringency and failures of other institutions during the Panic of 1857.
Measures
The bank announced it would stay open until 4 o'clock to accommodate those wanting specie.
Newspaper Excerpt
There was also a slight run at noon on the Marine Bank.
Source
newspapers
2. October 13, 1857 Suspension
Cause
Macro News
Cause Details
Systemic panic in New York City leading to a general suspension of specie payments by nearly all city banks.
Newspaper Excerpt
The following banks have suspended today: Marine, Ocean, Merchant's Exchange...
Source
newspapers
3. October 14, 1857 Reopening
Newspaper Excerpt
Yesterday these orders were vacated, the suits and all proceedings withdrawn, and the banks will go on as usual. ... Marine Bank. ... Business goes on as usual, specie payments excepted. The receipts yesterday were $64,000, of which $5,000 was is specie, and disbursements $44,000.
Source
newspapers

Newspaper Articles (18)
1. October 13, 1857 Worcester Daily Spy Worcester, MA
Article from Worcester Daily Spy, October 13, 1857

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Money Matters. NEW YORK, Oct. 12.-No improvement today in money matters, besides the Grocers' Bank suspension. There were a few unimportant failures of merchants. There is a rumor that a party of business men had gone to Albany to urge the Government to call an extra session of the Legislature. At the clearing house-today, it was resolved by the banks to maintain specie payments at all hazards. The failure of the Grocers' Bank created no excitement. The other banks continue to receive its bills on deposits. There was a renewal of the run on the Brooklyn Savings Bank, but all demands were promptly met. There was also a slight run at noon on the Marine Bank. Dispatches from St. Louis announce the failure of Doane, King, & Co., and Collins, Kirby, & Co., of that city, each with liabilities in the Atlantic cities of $1,000,000. Our bank returns today show a decrease in loans of upwards of $2,500,000, and an increase of $75,000 in specie. BOSTON, Oct. 12.-There is nothing new to notice in money affairs. The stringency continues, and what little transactions take place at the brokers' board are mostly pressed sales at low prices. The directors of the Michigan Central Railroad publish a card asking an extension of its paper, maturing between the present date and such time as funds can* be realized from the proposed loan advertised for the 10th of November next. The coupons of the company will be paid as usual, and no change will be necessary in the management of the road.

2. October 13, 1857 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, October 13, 1857

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Quite Surplus.. & number of persons deposited large sums of money in the bank this morning. The officers feel confident, though, that they can meet every demand, as their ability to raise specie is equal to the emergency. There was & run on the Marine Bank to-day, which lasted & few hours, but fell off when it was announced that the Bark would be kept open until o'clock to accommodate those who wanted spacie. There was also & slight run upon the Bull's Head and Ocean Banks, but the demands being promptly met, and the officers professing themselves fully prepared to meet any claims, the excitement soon tubsided. The Receiver of the Central Bank, Brooklyn, expresses the opinion that measures will be taken, in & few days, whereby their circulating notes may be redeemed. The Directors, in a published card, state that depositors will recover the amounts due as soon as collections can be made from accounts receivable. Notwithstanding the resolution of the Bank Meeting, to expand loans to the extent of three millions, the Weekly Bank Statement continues to show & rapid contraction of loans, reaching this week to the extent of $2,676,000. The loans are now lower than they have been since November, 1856, when they were $103,142,000, and the deposits were more than twenty milions larger than at present. The only Banksinthe list which do not show a contraction in during the past week, are the Manhattan, Merchants', City, National, Commerce, Republic and Nassau The largest reduction has been made by the Metropolitan. Inspecie the return is more favorable than has been anticipatedbank officers generally fearing that the figures would show a considerable deficiency. The report, however, shows how severe the drain by the country Banks and for hoarding has been, the Banks having had the full benefit of the California receipts of & million and a quarter, and of the average of the Sub-Treasury disbursements of over a million and a half, and yet show but a trifling increase. The interior, however, has been largely strengthened by what we have lost, and a portion of it has already found its way back to the city. The deposit line shows 811 apparent loss of $4,600,000; but making allowance for the withdrawal of the Bowery and East River Banks, and for the diminished business of the Clearing House, the actual decline is only $2,155,000, the undrawn line being $50,683,000 against $52,798,000 last week. This shows a more favorable condition of the deposit line than for several weeks past, as it in not so great as the reduction of loans. The circulation shows air ac ual decrease of about $130,000. The comparison with last week is as follows, deducting the two Banks which send in no report this week: Circulation. Loans & Dis. Deposits Specie. $67,978,657 Oct. 3. $7,916,102 $11,400,413 $105,935,499 Ded'ct Bow. ery and E. 937,846 262,846 43,395 R Banks.. 1,341,730 $67,040,841 $7,653 256 $11,357,018 104,593,769 63,801,681 7,523,599 11,476,293 Oct. 10 101,917,569 $3,737,130 $129,657 Decrease $2,676,200 $119 276 Increase The movement of the Banks since Nov. 1, 1855, has

3. October 14, 1857 The Davenport Daily Gazette Davenport, IA
Article from The Davenport Daily Gazette, October 14, 1857

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Later: General Nuspension I : Messrs. Cook & Sargent received yesterday afternoon a dispatch stating that the following New York Banks had suspended Marine Bank. Irving Bank Citizen's Bank. New York Exchange Bank Ocean Bank North River Bank Merchant's Bank. It is expected that the others " il suspend forthwith, and there is but littl. 'oubt that the Boston Banks, and all the Panks of New England will have to suspend this week. A tremendous excitement prevailed at New York yesterday.

4. October 15, 1857 Marshall County Republican Plymouth, IN
Article from Marshall County Republican, October 15, 1857

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General Bank Suspension and Excitement in New York. NEW YORK, Oct. 13. The following banks have suspended today: Marine, Ocean, Merchant's Exchange, New York Exchange, North River, Irving, Citizens, Chatham, Bulls Head, St. Nicholas and Market Street Banks.There is a general run on the Wall Street banks and intense excitement in the streets. Policemen are stationed at many of the banks to preserve order. BOSTON, Oct. 13. The suspension of Messrs. Geo. T. & W. P. Lyman, commission merchants, on state st., is announced. Harrisburg, Oct. 13. The House reconsidered yesterday's vote on the reiief bill, by a vote of 55 to 32.

5. October 15, 1857 Holmes County Republican Millersburg, OH
Article from Holmes County Republican, October 15, 1857

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Suspension of New York Banks. NEW YORK, Oct. 13. The following banks have suspended today: Marine, Ocean, Merchants Exchange, N. Y. Exchange, North River, Irving, Citizen's, Chatham, Bull's Head, St. Nicholas and Market Banks. There is a general run on all the Wall Street Banks, and intense excitement in the street. Policemen are stationed at many of the banks to preserve order.

6. October 15, 1857 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, October 15, 1857

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gold on deposit, not more than $10,000. Several pas. ple came for their specie in the morning. The besiness generally was more healthy than it has been for come days past. DRY-DOCK BANK. All is perfectly quiet at this institution, and it con Linues, for the present, to meet all demands against in gold. EAST RIVER BANK. The excitement which was manifested about this bank when it first suspended specie payments appears to have subsided; but the officers decline giving my information relative to the affairs of the institution. FULTON BANK. This bank is doing business as usual, specio ments alone being suspended. Before refuing spocia, pay. they had paid out $60,000 in gold to depositors, have $122,000 left. They did not refuse specionalM ME Wednesday morning. Several small specie deposits were made yesterday morning, and before the bank closed & large amount of gold had been deposited One house put in over $6,000. There seems to be a very general impression that business improve. The bank paid to the Clearing-House in the morning $16,000 in gold. In cases where billholders required small sums of specie they were cheerfully accomme! dated. Where it was evident that the gold was wanted for brokers and speculators, it - refund. The receipts were $125,000, payments $225,100, up to GROCERS' BANK. This bank was doing no business. Mr. Charles Denison, the President, was on Tuesday appointed Receiver for the institution, but it has not yet been decided to go into liquidation, as the decision of the Courts will admit of the vacation of the order, and permit the Bank to resume business if its managers desire to. GREENWICH BANK. The amount of deposits and money paid out at this institution was about one half of that on the preceding day. On Tuesday, the deposits were, in round REALbers, $60,000, while on the following day they amounted to not far from $30,000. The amount drawn out yes. terday in bills exceeded the deposits by perhaps $20,000, while on Tuesday-the eventful day of the week-the drain on the treasure in their vaults was $100,000. They express themselves perfectly satisfied with the present appearance of financial matters, and calmly await the progress of events, being assured that the worst has passed. HANOVER BANK. The Hanever Bank has received some ten or twelve thousand dollars in gold on deposit, according to the statement of its President. Our reporter was requested not to interrupt the tellers, and was able to learn nothing more than that the transactions were not extraordinary. IMPORTERS' AND TRADERS' BANK. The Importers' and Traders' Bank received some $8,000 in gold on deposit. Many depositors are drawing out their deposits in bills in the fear that a receiver may be appointed, and their deposits be locked up. IRVING BANK. This bank opened at the usual hour yesterday morning for the transaction of all business except redemption in specie, and its counters were visited durirg the day by numerous depositors. Confidence appeared to be entirely restored among its customers, and they were returning for the usual business transactions. LEATHER MANUFACTURERS' BANK. The business of this institution was resumed on Wednesday morning, with the same restrictions as in the case of the other banks. The Teller was directed in his discretion to pay specie on the bills of the bank when presented in small amounts, and when the transaction seemed to be in good faith. When the bank suspended on Tuesday they bad over $40,000 in coin is their vault and $90,000 in the Clearing House. MANHATTAN COMPANY. The line leading to the teller's wicket of the Manhattan Company numbered near fifty persons within a few minutes after the doors were opened; there WES no excitement however, and the usual business was transacted with the exception of paying out onin. Many were present to have checks certified. MERCHANTS' BANK. But few persons were present, and these manifested LO evidence of distrust or excitement. No change was perceptible in the business, except in the non-payment of coin. NATIONAL BANK. There was no excitement about the doors of this institution. The usual routine of business was followed with the exception of paying coin. In some instances bank bills were paid on checks, but this was avoided by the bank as far as possible. There were but few persons in attendance at the bank during the day. There was over $500,000 in coin in the vault of the bank when the doors were closed. BANK OF NORTH AMERICA. Everything was quiet at this bank, and business was conducted as usual-the payment of coin to depositors excepted. When bills of the bank were presented in small amounts, they were redeemed in specie. In cases where it was evident that the coin was asked for purposes of speculation, it was refused. MERCHANTS' EXCHANGE BANK. This bank is continuing business as usual, with the exception of payments in specie. They yesterdey morning paid their indebtedness to the Clearing House, and opened their doors for business as usual The officers state that the Bank is in & situation to move along with the customary business without barrasement. While our reporter was in the Bank yesterday & number of deposits were made, and all was quiet outside, there being no crowd or excited ment. MARINE BANK. Before closing this bank paid out, in the two days' run, to depositors and bill-holders, $50,000. They have now less than $25,000 in the vaults. Business goes on as usual, specie payments excepted. The receipts yesterday were $64,000, of which $5,000 was is specie, and disbursements $44,000. To accommodate legitimate business the bank paid specie for bills is small amounts. MARKET BANK. This bank is doing business as usual, with the exception of refusing specie payments. Current bills are received on deposit and checks certified and paid

7. October 15, 1857 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, October 15, 1857

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F. M. French, Maitland, Phelps & Co., Wm. Nelson & Son, Barclay & Livingston, Foster, Elliott & Co., Grinnell, Minturn & Co., Howland & Aspinwall, Tucker, Cooper & Co., Charles H. Russell, Augustus Schell, J. H. Brower & Co. At 3½ o'clock the number of merchants present could not have been less than 1,000. Edwin D. Morgan read the call of the meeting and nominated James Brown as President. The nomination was acceded to. James Lee and Robert C. Goodhue were appointed Secretaries. Peletiah Perit, President of the Chamber of Commerce, offered the following resolutions for adoption: Resolved As the sense of this eeting, that the exigencies of public affairs require an immediate extra session of the Legialature in order that such measures of relief may be granted as in their wisdom may be deemed just and expedient for the public good, and to enable the banks to continue their aid to the manufacturing and commercial industry of the State, to give employ. ment to the labor of the city and to renew specio pay ment at an early day. Resolved, With the view to liquidate the indebtedness of the interior, and to basten the shipment of produce to the seaboard, that it is the duty of the New York merchants and of the banks to afford every facility in their power without delay. Resolved, That in the judgment of the New York merchants assembled. looking at those great elements of wealth. the varied and large crops of the United States. the existing monetary de mangement may with certainty be speedily corrected, and be followed by a restoration of confidence to the ordinary machinery and credit of business; so that while the severity of the crisis will be long remembere d, so too will the speedy arrival of prosperity. be a Committee to present these Resolved, That resolutions to the Governor of the State, at Albany, and to solicit his immediate action thereon. Mr. Perit advocated the adoption of the resolutions. He said he would not attempt to speak at length upon them, as it would be impossible for him to be heard by but a small portion of the assemblage, and he did not know it was necessary that he should speak at length, as he was positive that the resolutions would meet with the full acquiescence of the merchants. To day the merchants found themselves in a position new and novel. The banks yesterday had found themselves obliged to suspend specie payments, though on the previous day it was known that they were perfectly solvent. The merchants had anqualified confidence in the entire solvency of the banks; there could be no doubt that their assets were abundant to meet all their liabilities; and, if this were true, he regarded it as the duty of merchants to sustain the banks by every means in their power, and this duty he considered imperative. Mr. Perit thought that their first duty was to represent to the Governor of the State the necessity that existed for an immediate call for an extra session of the Legis lature, to remove the penalties now imposed upon the banks for & suspension of specie payments, in order that the regular current of business might be restored to its legitimate channel. That step was provided for by the resolutions. Further, he suggested that it was the duty of merchants to give all their influence and all their aid to sustain the banks in the presenexigercy, and also to use all forbearance in their dealt ings with one another, and to give every indulgence possible in the present pressure. Moses H. Grinnell seconded the resolutions, which were put to vote and unanimously adopted. Theodore Dehon moved that the committee provided for by the resolutions be appointed by the President. The motion was carried, and the President named the following gentlemen as such committee: Moses H. Taylor, John C. Green, Royal Phelps, Moses H. Grinnell, Schuyler Livingston, Charles H Russell, Charles H. Marshall Abraham Hewitt, On motion the President and Secretaries of the meeting were added to the committee. Mores H. Grinnell then offered the following resolution: Resolved, That we, as merchant, and citizens, have entire confidence in the ability of the banks of the City of New York to meet all their engagements dollar for dollar. Mr. Grinnell said he should not offer any extended remarks. The resolutions which had been adopted with such unanimity expressed his sentiments, and he did not doubt that the Governor would respond to the call contained in them. But in accordance with what he deemed to be their duty to the banks, he had offered this resolution of confidence in their soundness, and he hoped it would be adopted, notwithstanding the fact that they bad been compelled to suspend pecie payment the previous day. But if they had done so, the banks had as tangible property to meet their liabilities as any merchant in the room, and that they intended to pay their debts as the merchants intended to pay theirs. (Applause). The resolution was seconded, and afterwards unanimously adopted. The meeting then adjourned. A consultation between the members of the Committee was at once held, and at 5 o'clock they left, on the Hudson River Railroad, for Albany. THE COURTS-SUSPENDED BANKS TO GO ON. The universal suspension of specie payment has already made some change in the circumstances and prospects of the banks. On Tuesday orders were made at the Special Term of the Supreme Court that the Marine and Citizens' Banks should show cause why receivers should not be appointed. Yesterday these orders were vacated, the suits and all proceedings withdrawn, and the banks will go on as usual. The Judges say that in like manner they will vacate all orders which have been granted appointing receivers, excepting, of course, such banks as have gone into liquidation. Of such there is only one-the Mechanics' Banking Association. The result will be that all the banks will be placed on an equal footing, and all will on. go enting ininnetions and appointing re-

8. October 16, 1857 The Union and Eastern Journal Biddeford, ME
Article from The Union and Eastern Journal, October 16, 1857

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lions. The official statement cannot be got at till night. The Grocers' Bank suspended this morning. New York, Oct. 12. No improvement today in money affairs. Besides the Grocers' Bank suspension, there were a few unimportant failures of merchants There is a rumor that a party of business men have gone to Albany to urge the Governor to call an extra session of the Legislature. At the Clearing House to-day, it was resolved by the Banks to maintain specie payments at all hazards. The failure of the Grocers' Bank created no excitement. The other Banks will continue to receive its bills on deposit. There was a renewal of the run on the Brooklyn Savings Bank, but all demands were promptly met. There was also a slight run at noon on the Marine Bank. Dispatches from St. Louis announce the failure of Doane, King & Co., and Collins, Kirby s Co., of that city, each with liabilities in the Atlantic cities at $1,000,000 The weekly bank statement shows an increase in specie of $75,881, and a decrease in all the other items, viz: Loans, $4,017,930; Circulation, $392,503 ; Deposits, $4,076,976 The total specie is $11,476,294. Cleveland, Oct. 12. The Cuyahoga Steam Furnace Company has assigned. Their assets show $100,000 over liabilities. The Furnace employed 200 men. Providence, Oct. 12. No failures have occurred in this city to-day, and the reports to the contrary are incorrect. Augusta, Oct. 12. The Southwestern Railroad Bank and the Bank of South Carolina suspended this morning. There is a run upon all the banks in Charleston. New Orleans, Oct. 12. The failure of Messrs. Corning & Co., of New York, did not affect the Southern Bank of this city. Rumors were afloat this morning of several failures, but they are not yet announced. Business is unsettled. Chicago, Oct. 12. Mesurs. Wadsworth

9. October 16, 1857 Fremont Journal Fremont, OH
Article from Fremont Journal, October 16, 1857

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ous Bank Suspensions--Heavy Run on the Wall Street Banks Police Called Out!!! NEW York, Oct. 13. The following banks have suspended today Marine, Ocean, Merchant's Exchange, New York Exchange, North River, Irving, Citizen's, Chatham, Bullshead, St. Nicholas and Market Banks. There is a general run on the Wall St. banks, and intense excitement in the street. Policemen are stationed at many of the banks to preserve order. BOSTON, Oct. 13. The suspension of Messrs. Geo. T. & W. P. Lyman, commission merchants, on State street, is announced. NEW York, Sept. 12. No important event to-day in money affairs beside the suspension of the Grocers Bank. There were a few unimportant failures of merchants. There is a rumor that a party of business men have gone to Albany, to urge the Governor to call an extra session of the Legislature. At the clearing house to-day, it was resolved by the Banks to continue specie payments at all hazards. The failure of the Merchant's Bank created no excitement.The other banks will continue to receive its bills on deposit. There was a renewal this morning of the run on the Brooklyn Savings Bank, but all demands were promptly met. There was also a slight run on the Marine Bank, and the Grocer's Bank. Dispatches from St. Louis announce the failure of Doane, King & Co., and Collins, Kerby & Co., of that city, each with liabilities in Atlantic cities of one million. Our Bank returns to-day show a decrease in loans of upwards of $2,500,000, and an increase of $3,750,000 in specie. At the 2d Board to-day, stocks were lower generally. I.C. bonds 50; N. Y. C. R. R. 53; M. S. 9; I. C. 703; C. & T. 22; C. & P. 8; Erie 8; Cal. & Chi. 54; Ch. & R. I. 55; Harlem 51. The sailing of the steamer Atlantic for Liverpool has been postponed till the 24th. BOSTON, Oct. 12. Nothing new to notice in money affairs. The stringency continues, and with little transaction.

10. October 17, 1857 The Ottawa Free Trader Ottawa, IL
Article from The Ottawa Free Trader, October 17, 1857

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New York. Oct. 12. No improvement to day in money affairs. Besides the Grocers' Bank suspension there a few unimportant failures of merchants. There is a rumor that a party of business have gone to Albany to urge the Govto call an extra session of the legislature. At the clearing house to-day it was resolved to maintain specie payment at all hazards. The failure of the Grocers' Bank created excitement. The other banks will conto receive its bills on deposit There a renewal this morning of the run on the Brooklyn Savings Bank, but all demands were promptly met. There was also a slight run on the Marine Bank. New York, Oct. 13. To-day has been a very exciting one in financial matters. Up to two o'eloc k fifteen Banks had suspended. The following a revised list: Bank of New York, Artisans', St. Nicholas, Chatham, Ocean, Market, Butchers' & Drovers', Merchants' Exchange, Irving, Citizens', Tradesman. Bulls Head, North River, and Marine. Wall Street, at o'clock, was crowded with an anxious of people. The steps of all the banks were also bloc ked up by people forcing their way into the banks. At the American Exchange, David Leaaddressed the crowd, assuring them all the banks would pay all to the last dollar. The following are, in substance, the offiresolutions passed at the meeting of the Bank Presidents: That the Banks of N. Y. suspend specie payment, as far as paying it over their counis concerned, but make regular exchangof one another's bills at the Clearing House. That a committee be appointed to confer with the Governor of the State in reference calling an extra session of the legi lature legalize the suspension. That such committee leave for Albany at oclock to-morrow. The whole number suspended to-day, with those that were included in the returns of yesterday, is sixteen. New York, Oct. 13. There is a general run on the Wall street banks, and intense excitement in the streets Policemen are stationed at many of the banks to preserve order. New York, Oct. 14. The aspects of affairs is decidedly more cheering. Merchants, bankers, &., look upon the bank suspensions as a relief. Wall street was comparatively quiet toThere has been a moderate run on the various savings banks, but all demands promptly met. All the institutions in city, but three in Brooklyn were obligto close their doors. At last accounts officers of the New York savings banks were holding a consultations on their future course. They propose, it is said, to pay ten cent. on deposits. The Bank of America and Chemical Bank continue to pay specie. The Manhattan, it said, is doing the same, and it is belie ved other banks will follow suit. A partial statement of the specie paid yesterday by city banks, not including the savings banks, foot up nearly twomi lions. A notice was posted to-day at the various banks which are enabled to do business, stating that business will be continued as heretofore, excepting the paying of specie. Checks WITH be received on deposit in the yment of notes, and bank notes will be paid and received as usual. Many of the banks have still a large amount of specie on hand. Gold is selling the brokers at and 5 per cent. premium. Trenton, N. J., Oct 14. The suspension of the banks here producno excitement, and there was a favorable feeling towards them. They accomm date public with specie for change. There some talk about convening the Legislato repeal or modify the stringent law against bank suspensions. Boston, Oct. 14. The suspension of the banks did not cremuch excitemedt. It is probable the suspension will extend throughout New Engla d wi " few xceptions. The Banks New Bedford, Fair Haven, Worcester, and other principal towns have suspended. At Nantu ket and Lowell, the Banks paid sp through the day. The Boston Banks will pay their balance at the clearing house. Petersburg, Va., Oct. 14. The Farmers' Bank of Petersburg, has nded, but the Bank of Virginia and the Exchange Bank are still paying specie. New Orleans, Oct. 14. The branch mint has pu chaled from the $2,000,000 of silver buttion, paying gold, attording some relief. The Union Bank has suspended. There is a heavy run on all free bar ks.Great excitement. Richmond, Va., Oct. 15. The Farmers' and Exchange banks here uspended yesterday. The Bank of Virginstill holds out. Ci cinnati. Oct. 15. Money matters are quite unsettled in conequence of the news from New York and Isewhere. Some banking houses refused take the notes of suspended banks, while thers take the notes of all good banks; exhange nominal at 5 per cent. It is thought Kentucky, Indiana and Ohio banks will intsuspend now. St. Louis, Oct. 15. There wasa heavy run on the Bank of the State of Missouri this morning. Opinions onflict as to the bank's ability to hold out therwise the city is quiet. Nashville, Oct. 15. The Bank of Tennessee has suspended.The legislature is considering a resolution to egalize a general suspension; actions doubtThe Planters and Union Banks will out to the last unless authorized to uspend. Philadelphia, Oct. 15. The disposition manifested by the banks to accept the provision of the late act of legislature, has cast additional gloom the business community. Boston, Oct. 15. An adjourned meeting was held to-day for he purpose of arranging plans for facilitatbusiness at the clearing house, and it proposed to discount liberally on unoubted paper, SO as to turnish rehef to bumen who are beginning to bend bethe pressure.

11. October 17, 1857 Semi-Weekly Standard Raleigh, NC
Article from Semi-Weekly Standard, October 17, 1857

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More Suspensions, dc. NEW YORK, Oct. 13.-E. Fish & Company, Brown & Casey, merchants; also the Chathain and Bull's Head Banks have suspended The Marine Bank stopped by an injunction of its customers. It is presumed the others were stopped in the same manner. By this means the penalty of winding up, which attaches to suspension, is evaded; and it is rendered probable that suspension in most cases will only be temporary. This understanding relieves excitement. Three more banks, the Tradesman's, the Market, and the St Nicholas, have suspended. BOSTON, Oct. 18.-Lyman & Brothers, china merchants have suspended.

12. October 17, 1857 Republican Vindicator Staunton, VA
Article from Republican Vindicator, October 17, 1857

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More Bank Suspensions in New York. NEW York, Oct. 13.-Eight Banks in this city suspended specie payment this morning, namely: The Marine, Pacific, New York Exchange, Merchants' Exchange, North River, Citizen, Irving and Ocean Banks.

13. October 17, 1857 Republican Vindicator Staunton, VA
Article from Republican Vindicator, October 17, 1857

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[SECOND DISPATCH.] NEW YORK, Oct. 13.-Five more banks -the Chatham. Bull's Head, Tradesmans', Market and St. Nicholas-have suspended. [THIRD DISPATCH.] New YORK, Oct. 13, P. M.-The Marine Bank was stopped by an injunction on its customers, and it is presumed that the same course was adopted in regard to others By this means, the penalty of winding up which attaches to suspension, is evaded, and renders it probable that suspension in most cases is only temporary. This understanding relieves public excitement.

14. October 20, 1857 Mineral Point Tribune Mineral Point, WI
Article from Mineral Point Tribune, October 20, 1857

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Bank Suspensions-Steamboat Accident. NEW YORK, Oct. 13. The following banks have suspended to-day: Marine Ocean, Merchants Ex. change, New York Exchange, North River, Bulls Head, St. Nichols and Mar. ket Banks. There is a general run on the Wall street banks, and intense excitement in the street. Policeman are stationed at Banks to preserve order. The Fall River steamer Empire State struck a rock at Hurlgate, last evening during the prevalence of a dense fog, and had a large hole stove in her bow. She was backed off and groped her way to this city where she landed all her passengers in safety. The water was at one time above the cabin floor, but never be. yond the control of her pumps. She was entirely free of water at 12 this M., and goes on dock to-day for repairs. The baggage and freight escaped uninjured.

15. October 20, 1857 Mineral Point Tribune Mineral Point, WI
Article from Mineral Point Tribune, October 20, 1857

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Boston, Oct. 13. The suspension of Messrs. Geo. T.& W. P. Lyman, commission merchants on State street is announced. New York, Oct. 13. The following banks have suspended to-day: Marine, Ocean, Merchants, Exchange, N. Y. Exchange, North River, Irving, Citizens. Chatham, Bulls-Head, St. Nicholas and Market Banks. There is a general run on the Wall street Banks, and intense excitement in the street.— Policemen are stationed at many of the Banks to preserve order.

16. October 21, 1857 Weekly North Carolina Standard Raleigh, NC
Article from Weekly North Carolina Standard, October 21, 1857

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More Suspensions, &c. NEW YORK, Oct. 13.-E. Fish & Company, Brown & Casey, merchants; also the Chatham and Bull's Head Banks have suspended The Marine Bank stopped by an injunction of its customers. It is presumed the others were stopped in the same manner. By this means the penalty of winding up, which attaches to suspension, is evaded; and it is rendered probable that suspension in most cases will only be temporary. This understanding relieves excitement. Three more banks, the Tradesman's, the Market, and the St Nicholas, have suspended. BOSTON, Oct. 13.-Lyman & Brothers, china merchants have suspended.

17. October 22, 1857 The Weekly Pioneer and Democrat Saint Paul, MN
Article from The Weekly Pioneer and Democrat, October 22, 1857

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Financial Matters. NEW YORY, Oct. 12-The Grocers' Bank of this city has suspended and closed its doors to-day. Bill-holders are safe enough. No improvement to-day in money affairs. Besides the Grocers Bank suspension, there were a few important failures of merchants. There is a rumor that a party of business men have gone to Albany to urge the Gov. ernor to call an extra session of the Legislature. At the clearing house to-day, it was resolved by the banks to maintain specie payments at all hazards. The failure of the Grocers' Bank created no excitement. The other banks will continue to receive its bills on deposit. There was a renewal this morning of the run on the Brooklyn Savings Bank, but all demands were promptly met. There was also a straight run on the Marine Bank and Grocers' Bank. Despatches from St. Louis announce the failure of Doane. Kink & Co., and Collins Kirby & Ce. of that city. Each with Habilities in Atlantic cities of one million. The sailing of the steamer Atlantic for Liverpool has been postponed until the 24th. The weekly Bank statements shows an increase of specie $75,000. Decrease in all other loans, $4,007,930. Circulation $302,504. Deposits. $1,000,000. Total specie $18,000,000. BOSTON, Oct. 12.-Stringency continues, and what little transactions take place at the broker's board are mostly pressed sal S. The directors of the Michigan Central Railroad publish a card. asking anextension on its paper, maturing between the present date and such time as the funds can be realized from the proposed loan. advertisal for the loth of November CHICAGO, Oct. 12-The banking house of Wadsworth & Co., suspended this morning. Assets largely exceed their liabilities. Augusta. Oct. 12-The South Western Railroad Bank. and the Bank of South Carolina, suspended this afternoon: Buffalo, Oct. 12-The Pratt Bank of Buffale closed its doors to-day. NEW Orleans, Oct. 12-There is a IIImor that Gen. Wararse has been assignated for the Presidency. Insurgents south still hold out. Robberies rife throughout the country. The health of Vera Cruz is improving. The New Orleans failure of Corning & Co. will not effect Southern Banks. Rumors of some failures this morning, not yet anthenticated. Business unsettled. CHICAGO, Oct. 12-About half past two o'clock yesterday morning a fire broke out on State street. between Monroe and Adams streets, destroying almost the entire block. Seventeen dwellings anda number of stables were consumed. Loss estimated at $125,000. Insurance not ascertained. NEW ORLEANS, Oct. 10.-The ship Sultana, from New York, has arrived and reports passing on the 22dult., off North Carolina Coast. the corpses of four men, and a piece of wreek supposed to belong to the Central America.

18. October 28, 1857 The Spirit of Democracy Woodsfield, OH
Article from The Spirit of Democracy, October 28, 1857

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List of Suspended, Depreciated and Discredited Banks. Leather Manufacturers' Bank, New York City; Hudson County Bank, Jersey City; Broadway Bank New York City; People's Bank New York City; Bank of New York; Farmer's Bank, Petersburgh, Va; Union Bank, New Orleans; Marine Bank, N. Y. City; Tradesman's Bank, " " " " Artisan's Bank, Butcher's and Drover's Bank, New York city; Market Bank, New York City; " " St. Nicholas Bank, " " Pacific Bank, " " " " Irving Bank, " Merchants Exchange," " " North River Bank, " New York Exchange," " " Citizens' Bank, " " Ocean Bank, " " Chatham Bank, " " Bull's Head Bank, " " East River Bank, Pratt Bank, Buffalo, New York, Belleville Bank, Illinois; " Bank of Chester, Stock Security Bank, Illinois; " Corn Exchange Bank, Bank of Pike County, " State Bank of South Caaolina, Charleston;