Real Estate Savings Institution (St Louis, MO)

Episode Information

Episode UID
7695696490936
Episode Type
Suspension → Closure
Bank Type
savings
Bank ID
769569649 hash
Start Date
December 28, 1877
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
92fea23a1f1866c2

Response Measures

None

Description

Contemporary reports announce a suspension with asset shrinkage; no reopening or receiver is reported in these items.

Events (1)
1. December 28, 1877 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Great shrinkage in real estate values and inability to realize on mortgages and securities.
Newspaper Excerpt
At a meeting of the stockholders of the Real Estate Savings Bank this afternoon it was resolved to suspend at once.
Source
newspapers

Newspaper Articles (10)
1. December 29, 1877 New-York Tribune New York, NY
Article from New-York Tribune, December 29, 1877

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Article Text

A ST. LOUIS SAVINGS BANK SUSPENDED. ST. LOUIS, Dec. 28.-At a meeting of the stockholders of the Real Estate Savings Bank, this afternoon, it was resolved to suspend at once. The assets are stated to be, in round numbers, bills receivable, secured on real estate and interest accrued thereon, $208,000; real estate, $26,300; cash and furniture, $11,000; liabilities due depositors, with interest, $226,000; bills payable, $68,000; capital stock and the amount due the Real Estate Savings Institution, the concern out of which the present bank grow less than a year ago, $187,000; profits, $1,000. The cause of the suspension was the great shrinkage in real estate owned by the bank, which has been acquired by the foreclosure of mortgages. It is thought that the depositors will be paid in full, and that the stockholders will also receive something. Among the directors of the bank were several prominent and wealthy citizens.

2. December 29, 1877 The Wheeling Daily Register Wheeling, WV
Article from The Wheeling Daily Register, December 29, 1877

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Article Text

Another Savings Bank Gone Up. ST. LOUIS, December 28.-At a meet. ing of the stockholders of the Real Es. late Savings Bank this afternoon, it was resolved to suspend at once The assets are stated to be, in round numbers, bills receivable, $20,800; real estate, $26,300; cash and turniture, $11,009. Liabilities: due depositore, with interest. $226,000; bills payable. $68,000; capital stock and amount due Real Estate Savings Institution, a concern out of which the present bank grew, less than 8 year ago, $187,000; profits, $1,000. The cause of suspension was the great shrinkage in real estate owned by the bank, which had been acquired by foreclosure of martgages. It is thought that the de. positors will be paid in full, and that the stockholders will also receive something. The directory of the bank embraced several quite prominent and wealthy citizens.

3. December 29, 1877 The Rock Island Argus Rock Island, IL
Article from The Rock Island Argus, December 29, 1877

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Article Text

Bank Suspension. ST. LOUIS, Dec. 28.-At the instance of the directors of the Real Estate Sayings Institute, the stockholders held a meeting this afternoon. and after a full and free discussion a resolution was adopted to suspend at once. The assets are placed at $45,000, mainly in bonds, mortgages on real estate. and the liabilities to dépositors are about $255,000. It is thought that depositors will be paid in full and perhaps stockholders will receive something. The cause of the suspension is the great shrinkage in real estate values and inability to realize on securities,

4. December 29, 1877 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, December 29, 1877

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Article Text

Savings Bank Suspended. ST. LOUIS, Dec. 20.-At the Instance or 000 directors of the Real Estate Savings Institute, the stcckholders of the concern held a meeting this afternoon to examine and consider the condition of the bank, and after full and free discussion a resolution was adopted to suspend at once. Assets are placed at $450,000, mainly in bonds and mortgages on real estate, and liabilities to the depositors are about $255,000. It is thought the depositors will be paid in full, and perhaps the stockbolders will receive something. Cause of suspension is the great shrinkage in real estate values and inability to realize on securities.

5. December 29, 1877 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, December 29, 1877

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Article Text

MISSOURI. Bank Suspension. ST. LOUIS, December 28 the instance of the directors of the Real Estate Savings Institution, the stockholders b-ld a meeting this afternoon to examine and consider the condition of the bank. After a full a d free discussion, a resolution was adopted to su-pend at oace. The assets are plac ed at $450,000, mainly in bonds and mortgages on cal extate, and the liabilities to the depositors are about $255,000. It is thought the depositors will he paid in full, and perhaps the stockholders will receive something. The cause of the suspension 1. the great shrinkage in real estate values and inability to realize on securities.

6. December 29, 1877 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, December 29, 1877

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Article Text

Financial and Commercial Troubles. SUSPE NSION OF THE NYACK BANK. NYACK, N. Y., December 28.-The Rockland County National Bank, of Nyack, N. Y., suspended payment this morning. NEW YORK, December 28.-A receiver has been appointed for the Jersey City Savings Bank. OTHER BUSINESS TROUBLES. HALIFAX, N. S., December 28.-John B. Flowers, dealer in boots and shoes, has gone into insolvency. Edward Albro & Co., hardware merchants, are embarrassed. Liabilities, $160,000; assets, $100,000. FAILURE OF A REAL ESTATE SAVINGS INSTITUTION. ST. LOUIS, December 28.-The Real Estate Savings Institution has suspended. Assets, $450,000, mainly in bonds and mortgages. Liabilites to depositors, $255,000. It is thought the depositors will be paid in full, and perhaps the stockholders will receive something. The shrinkage of real estate and inability to realize on securities is the cause.

7. December 29, 1877 The New York Herald New York, NY
Article from The New York Herald, December 29, 1877

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Article Text

SAVINGS BANK SUSPENSION. ST LOUIS, Dec. 28, 1877. At a meeting of the stockholders of the Real Estate Savings Bank this afternoon it was resolved to suspend at once. The assets are stated to be in round numbers, bills receivable, secured on real estate and interest accrued thereon, $208,000; real estate, $26,300; cash and furniture, $11,000. Liabilities-Due depositors, with interest, $226,000; bills payable, $68,000. Capital stock and the amount due the Real Estate Savings Institution, the concern out of which the present bank grew less than a year ago, $187,000: Profits, $1,000. The cause of the suspension was the great shrinkage in real estate owned by the bank which has been acquired by the foreclosure of mortgages. It is thought the depositors will be paid in full and that the stockholders will also receive something. Among the directors of the bank were soveral prominent and wealthy citizens.

8. January 3, 1878 The Stark County Democrat Canton, OH
Article from The Stark County Democrat, January 3, 1878

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Article Text

ANOTHER BANK SUSPENSION. St. Louis, Dec. 28.-The Real Estate Savings Institution suspended to-day. The assets are placed at $450,000, mainly in bonds and mortgages on real estate, and liabilities to depositors about $265.000 It is thought depositors will be paid in full and perhaps stockholders will receive something, The great shrinkage in real estate values and inability to realiee on securities were the causes of the suspension.

9. January 3, 1878 The Crisis Chillicothe, MO
Article from The Crisis, January 3, 1878

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Article Text

The suspension of the Real Estate Bank of St. Louis IS reported. Also the Drug house of John D. Park & Son of Cincinnati. More resumption wrecks.

10. January 4, 1878 Vicksburg Weekly Herald Vicksburg, MS
Article from Vicksburg Weekly Herald, January 4, 1878

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Article Text

Bank Suspensions. NYACK, N. Y., De 28.- - Rockland County National Bank, of Nyack, New York, suspended payment this morning. New YORK, Dec. 28.-A Receiver has been appointed for the Jersey City Savings Bank. ST. LOUIS, Dec 23-The Real Estate Savings Institution suspended. Assets $450,000, mainly in bonds and mort. gages; liabilities to depositors $255,000. It is thought depositors will be paid in full. Shrinkage in real estate, and inability to realize on securities, is the cause.