Article Text
FAILURE OF Two MORE OF THE IsDIANA STOCK Banks.-The The Huntington and the Bank of North America, at Clinton, have suspended, and are bought by the brokers at fifty to seventy five cents on a dollar.
Bank of North America (Clinton, IN)
Episode Information
- Episode UID
7838128790686- Episode Type
- Suspension → Closure
- Bank Type
- state
- Bank ID
-
783812879hash - Start Date
- February 28, 1857
- Location
- Clinton, Indiana (39.661, -87.405)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
54739f5c2af7e355
Response Measures
None
Description
Auditor wound up banks for noncompliance with Indiana free-banking amendment; permanent winding up implied.
Events (1)
1.
February 28, 1857
Suspension
- Cause
- Government Action
- Cause Details
- Owners refused to comply with amendment to Indiana free-banking law; Auditor ordered institutions wound up and securities sold.
- Newspaper Excerpt
- The Huntington and the Bank of North America, at Clinton, have suspended
- Source
- newspapers
Newspaper Articles (12)
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Article Text
FAIRURE OF Two MORE OF THE INDIANA STOCK BANKS.-The Huntington, and the Bank of North America, at Clinton, have suspended, and are bought by the brokers at fifty to seventyfive cents on the dollar.
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Filure of two more of the Indiana Stock Banks.-The Huntington County Bank, at Huntington, and the Bank of North America, at Clinton, have suspended, and are bought by the brokers at fifty to seventy-five cents on the dollar.
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Bank Matters. The Chicago Press of Wednesday notices the suspension of the Brookville Bank, Huntington County Bank, and Bank of America, Indiana. The owners of the banks refusing to comply with the requirements of the late amendment to the free banking law of that State, the institutions will be wound up by the Auditor. Their bills, says the Press, may be expected to yield at least 75 cents on the dollar. The same paper states that there is no change, in the rates at which brokers in Chicago purchase the bills of the discredited banks of Illinois. People's Bank and Rushville Bank are at from 8 to 10 per cent discount, and Stock Security at from 3 to 5 per cent. The Toronto Leader publishes an announcement that the leading banks of the Province have agreed to continue the redemption of the notes of the Zimmerman Bank, at their offices, as usual. Ones on the Bank of Quebec, altered to tens, are in circulation at Toronto. They may be detected at once by the denominations, being an X in each corner, instead of a figure; the X's having been put where the figures I were. The last weekly statement of the New York city banks, (March 21,) compared with that of the previous week, shows an increase in loans of $197,702, in specie of $213,541, and in circulation of $41,687; and a decrease in undrawn deposits of $738,576. The Indianapolis Journal of the 20th says: "The securities of the Bank of North Aemerica, at Clinton, will be sold in a few days by the Auditor of the States. The proceeds will pay about fifty cents on the dollar, of the outstanding circulation. "The Bank of Warsaw has given notice of its intention to close business. Its issues are redeemed at the Central Bank Indianapolis. The gold has been deposited at the Central Bank, for the redemption of its outstanding circulation. "The issues of the New York and Virginia Stock Bank, at Evansville, are redeemed by the Crescent City Bank, and the issues of the Merchants and Mechanics' Bany, of New Albany, are redeemed by the New Albany Branch of the Bank of the State of Indiana. The new banking law of Illinois provides that no bank shall be located in any town or village of less than 500 inhabitant."
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The specie paying banks that are winding up and redeeming their circulation at par areBrookville Bank, Bank of the Capitol, Bank of Elkhart, Hoosier Bank, Indiana Stock Bank, Huntington County Bank, Indiana Reserve Bank, Bank of Monticello, redeemed at Branch Bank, Lafayette; Fayette County Bank, redeemat Branch Bank, Connersville; Merchants' and Mechanics' Bank, redeemed at Branch Bank, New Albany; Bank of Syracuse, redeemed at Bank of Goshen; New York and Virginia State Stock Bank, redeemed at Crescent City Bank; Traders' Bank, Indianapolis, redeemed at the Bank of the Capitol. The suspended banks, redeemed at the Auditor's office at 90 per cent, areBank of Albany, Kalamazoo Bank, State Stock Bank, Marion, and Bank of Clinton. Those at 87 per cent are-Bank of America and Bank of Connersville. At 92 per cultureTraders' Bank, Nashville, and Wabash Valley Bank. Those at par are-Agricultural, Orange, Bank of Perryville, Rockport, South Bend, Wayne Bank, Logansport and Bank of Warsaw. The Atlantic Bank at 80 per cent; Elkhart, 97; Farmers' Bank, Jasper, at 91; Laurel Bank at 82; Nerthern Indiana at 832 State Stock Bank, Peru, at 85; Bank of T. Wadsworth at 91; Bank of North America, Clinton, at 90; Savings Bank of Indiana, Connersville, 69.
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Indiana Free Banks. The following quotations are based upon the Report of the Auditor of the State of Indiana, dated February 1st, 1858: SPECIE PAYING. Atl DISCOUNT. Bank of Goshen, Goshen. Bank of Gosport, Gosport. Bank of Mt. Vernon, Mt. Vernon. Mani of Paeli, Paoli. of Rockville, Wabash. Bank of Salem, New Albany. Bank of Salem, Salem. Bloomington Bank, Bioomington. Cambridge City Bank, CambridgeCity, Exchange Bank, Greeneastle. Bank of Indiana Michigan City. Canal Bank, Hvamoville. CentralB'k, Indianapolis, redeemed urer of State. Crescent City Bank, Evansville. Bank of Kikhart. Brookville Bank, Indiana. CambridgeCity Bank. Farmers' Bank, Westfield. Indiana Bank, Madison. Indiana Farmers' Bank, Franklin. Kentucky Stock Bank, Columbus. Lagrange Bank, Lima. Parke County Bank. Rockville. Prairie City Bank, Terre llaute. Bank of Monticello Fayette County Bank. Merch. & Mech. Bk, New Albany. Bank of Syracuse. Indian Reserve Bank. Hooster Bank. SUSPENDED-AT 25 DISCOUNT. Agricultural Bank. AtlanticBank. Bank of Albany. Bank of Albion. Bank of Attica. Bank of America. Bank of Bridgeport. Bank of Commeraville. Bank of Perrysville. Bank of SouthBead. Bank of T. Wadsworth. Bank of the Capitol. Bank of N. America, Clinton Bank of Rockport. Elk) County Bank. Sav Bank, Connersville, (secure,) 40 dis. Fart re' Bank, Jasper. Kati ik. Lat No isna Bank. N. Stock Bank. Or State of Indiana, Peru. State ik, Marion. Havings Bank of Indiana, (seeured). Traders' Bank, Nashville. Wabash Valley Bk. Wayne Bank, Michmond. Wayne Bank, Logansport. Bank of Warraw. Huntington County Bank. There is #0 little suspended Indiana paper now in circulation, and rates are so unreliable, that we do not deem it worth while to give quotations.
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Indiana Free Banks. The following quotations are based upon the Report of the Auditor the State of Indiana, dated February 1st, 1858: SPECIE PAYING. ATLDISCOUNT. Bank of Goshen, Goshen. Bank of Gosport, Gosport. Bank of Mt. Vernon, Mt. Vernon. Bank of Paoli, Paoli. Bank of Rockville, Wabash Bank of Salem, New Altany. Bank of Salem, Selem. Bioomington B₄₁ loomington. Cambridge City Cambridge City. Exchange Bank, Bank of Indiana Mie City. Canal Bank, Evans Central B'k, Indianapolis, redeemed by Treasurer of State. Crescent City Bank, Evansville. Bank of Elkbart. Brookville Bank, Indiana. CambridgeCity Bank. Farmers Bank. Westfield. Indiana Bank, Madison. Indiana Farmers' Bank, Franklin. Kentucky Stock Bank, Columbus. Lagrange Bank, Lima. Parke County Bank, Rockville. Prairie City Bank, Terre llaute. Bank of Monticello Fayette County Bank. Merch. & Mech. Bk. New Albany. Bank of Syracuse. Indian Reserve Bank. Hoosier Bank. SUSPENDED-AT 25 DISCOUNT. Agricultural Bank. AtianticBank. Bank of Albany. Bank of Albion. Bank of Attica. Bank of America. Bank of Bridgeport. Bank of Commersville. Bank of Perrysville. Bank of South Bend. Bank of T. Wadsworth. Bank of the Capitol. Bank of N. America, Clinton Bank of Rockport. Elkhart County Bank. Savings Bank, Connersville, (secure,) 40 dis. Farmers' Bank, Jasper. Kalamasoo Bank. Laurel Bank. Northern Indiana Bank. N. Y.& Va. St. Stock Bank. Orange Bank. State Stock Bank of Indiana, Peru. State Stock Bank, Marion. Savings Bank of Indiana, (secured). Traders' Bank, Nashville. Wabash Valley Bk. Wayne Bank, Richmond. Wayne Bank, Logansport. Bank of Warsaw. Huntington County Bank. There is so little suspended Indiana paper now in circulation, and rates are 80 unreliable, that we do not deem it worth while to give quotations.
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Indiana Free Banks. The following quotations are based up on the Report of the Auditor of the State of Indiana, dated February 1st, 1858: SPECIE PAYING. ATT DISCOUNT. Bank of Goshen, Goshen. Bank of Gosport, Gosport. Bank of Mt. Vernon, Mt. Vernon. Bank of Paoli, Paoli. Bank of Rockville, Wabash. Bank of Salem, New Altany. Bank of Salem, Salem. Bioomington Bank, ington. Cambridge City Ball ridge City. Exchange Bank, Gree Bank of Indiana Michi City. Canal Bank, Evansville Central B'k, Indianapolis, rodeemed by Treasurer of State. Crescent City Bank, Evansville. Bank of Elkbart. Brookvi lle Bank, Indiana. Cambridge City Bank. Farmers Bank, Westfield. Indiana Bank, Madison. Indiana Farmers' Bank, Franklin. Kentucky Stock Bank, Columbus. Lagrange Bank, Lima. Parke County Bank. Rockville. Prairie City Bank, Terre liaute. Bank of Monticello Fayette County Bank. Merch. & Mech. Bk. New Albany. Bank of Syracuse. Indian Reserve Bank. Hoosier Bank. SUSPENDED-AT 25 DISCOUNT. Agricultural Bank. AtlanticBank. Bank of Albany. Bank of Albion. Bank of Attica. Bank of America. Bank of Bridgeport. Bank of Connersville. Bank of Perrysville. Bank of South Bend. Bank of T. Wadsworth. Bank of the Capitol. Bank of N. America, Clinton Bank of Rockport. Elkhart County Bank. Savings Bank, Connersville, (secure,) 40 dis. Farmers' Bank, Jasper. Kalamasoo Bank. Laurel Bank. Northern Indiana Bank. N. Y. & Va. St. Stock Bank. Orange Bank. State Stock Bank of Indiana, Peru. State Stock Bank, Marion. Savings Bank of Indiana, (secured). Traders' Bank, Nashville. Wabash Valley Bk. Wayne Bank, Richmond. Wayne Bank, Logansport. Bank of Warsaw. Huntington County Bank. There is 80 little suspended Indiana paper now in circulation, and rates are so unreliable, that we do not deem it worth while to give quotations.
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Indiana Free Banks. The following quotations are based upon the Report of the Auditor of the State of Indiana, dated February 1st, 1858t SPECIE PAYING. ATIDISCOUNT. Bank of Goshen, Goshen. Bank of Gosport, Gosport. Bank of Mt. Vernon, Mt. Vernon. Bank of Paoli, Paoli. Bank of Rockville, Wabarh. Bank of Salem, New Altany. Bank of Salem, Salem. Bioomington Bank, Bioomington. Cumbridge City Ban bridgeCity. Exchange Bank, Gree Bank of Indiana Michig in Canal Bank, Evansville. Central B'k, Indianapolis, deemed by Treasurer of State. Crescent City Bank, Evanaville. Bank of Elkbart. Brookville Bank, Indians. Cambridge City Bank. Farmers Bank, Westfield. Indiana Bank, Madison. Indiana Farmers' Bank, Franklin. Kentucky Stock Bank, Columbus. Lagrange Bank, Lima. Parke County Bank, Rocks Illa. Prairie City Bank, Terre lisute. Bank of Monticello Fuycite County Bank. Merch. & Mech. Bk. New Albany. Bank of Syracuse. Indian Reserve Bank. Hoosier Bank. SUSPENDED-AT 25 DISCOUNT. Agricultural Bank. Atlantic Bank. Bank of Albany. Bank of Albion. Bank of Attica. Bank of America. Bank of Bridgeport. Bank of Commersville. Bank of Perrysville. Bank of South Bend. Bank of T. Wadsworth. Bank of the Capitol. Bank of N. America, Clinton Bank of Rockport. Elkhart County Bank. Savings Bank, Connersville, (seemre,) no dr. Farmers' Bank, Jasper. Kalamasoo Bank. Laurel Bank. Northern Indiana Bank. N. Y. & Va. St. Stock Bank. Orange Bank. State Stock Bank of Indiana, Peru. State Stock Bank, Marion. Savings Bank of Indiana, (secured). Traders' Bank, Nashville. Wabash Valley Bk. Wayne Bank, Richmond. Wayne Bank, Logansport. Bank of Warsaw. Huntington County Bank. There is so little suspended Indiana paper now in circulation, and rates are so unrellable, that we do not deem it worth while to give quotations.
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Indiana Free Banks. The following quotations are based upon the Report of the Auditor of the State of Indiana, dated February 1st, 1858: SPECIE PAYING. I DISCOUNT. Bank of Goshem, Goshen. Bank of Gosport, Gosport. Bank of Mt. Vermon, Mt. Vernon. Bank of Paoli, Paoli. Bank of Reckville, Wabash. Bank of Salem, New Altany. Bank of Salem, Salem. Bioomington Bank, Bloomington. Cambridge City Bank, Cambridge Exchange Bank, Greeneastle, Bank of Indiana Michigan City. Canal Bank, Evansville. CentralB'k, Indianapolis, redeemed by Treasurer of State. Cressent City Bank, Evansville. Bank of Elkhart. Brookville Bank, Indiana. Cambridge City Bank. Farmers' Bank, Westfield. Indiana Bank, Madison. Indiana Farmers' Bank, Franklin. Kentucky Steek Bank, Columbus. Lagrange Bank, Lima. Parke County Bank, Rockville. Prairie City Bank, Terre Haute. Bank of Menticello Fayette County Bank. Merch. s Mech. Bk. New Albany. Bank of Syracuse. Indian Reserve Bank. Hoosier Bank. SUSPENDED-AT 25 DISCOUNT. Agricultural Bank. Atlantic/Bank. Bank of Albany. Bank of Albion. Bank of Attica. Bank of America. Bank of Bridgeport. Bank of Connersville. Bank Perryaville. Bank of South Bend. Bank of T. Wadsworth. Bank of the Capitol. Bank of N. America, Clintos Bank of Rockport. Elkhart County Bank. Savings Bank, Connersville, (secure) 40 dhe. Farmers' Bank, Jasper. Kalamasoo Bank. Laurel Bank. Northern Indiana Bank. N. Y. & Va. St. Stock Bank. Orange Bank. State Stock Bank of Indiana, Peru. State Stock Bank, Marion. Savings Bank of Indiana, (socured). Traders' Bank, Nashville. Wabash Valley Bk. Wayne Bank, Richmond. Wayne Bank, Logansport. Bank of Warsaw. Huntington County Bank There is 80 little suspended I now in circulation, and rates are $0.8 ble, that we do not deem it worth give quotations.
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Indiana Free Banks. The following quotations are based upon the Report of the Auditor of the State of Indiana, dated February 1st, 1858: SPECIE PAYING. ATI DISCOUNT. Bank of Goshen, Goshen. Bank of Gosport, Gosport. Bank of Mt. Vernon, Mt. Vernon. Bank of Paoli, Paoli. Bank of Rockville, Wabash. Bank of Salem, New Altany. Bank of Salem, Salem. Bioomington Bank, Bloomington. Cambridge City Bank, Cambridge City. Exchange Bank, Greeneastle. Bank of Indiana Michigan City. Canal Bank, Evansville. Central B'k, Indianapolis, redeemed by Treasurer of State. Cressent City Bank, Evanaville. Bank of Elkhart. Brookville Bank, Indians. Cambridge City Bank. Farmers Bank, Westfield. Indiana Bank, Madison. Indiana Farmers' Bank, Franklin. Kentucky Stock Bank, Columbus. Lagrange Bank, Lima. Parke County Bank, Rockville. Prairie City Bank, Terre Haute. Bank of Monticello Fayeite County Bank. Merch. & Mech. Bk. New Albany. Bonk of Syracuse. Indian Reserve Bank. Hoosier Bank. SUSPENDED-AT 25 DISCOUNT. Agricultural Bank. AtlanticBank. Bank of Albany. Bank of Albion. Bank of Attics. Bank of America. Bank of Bridgeport. Bank of Connersville. Perrysville. Bank of South Bend. Bank of T. Wadsworth. Bank of the Capitol. Bank of N. America, Clinton Bank of Rockport. Elkbart County Bank. Savings Bank, Connersville, (secure,) 40 dis. Farmers' Bank, Jasper. Kalamasoo Bank. Laurel Bank. Northern Indiana Bank. N. Y. & Va. St. Stock Bank. Orange Bank. State Steek Bank of Indiana, State Stock Bank. Marion. Savings Bank of Indiana, (secused). Traders' Bank, Nashville, Wabash Valley Bk. Wayne Bank, Michmond. Wayne Bank, Logansport. Bank of Warsaw. Huntington County Bank. There is so little suspended Indiana paper now in circulation, and rates are 80 unrelinble, that we do not deem it worth while to give quotations.
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Indiana Free Bal The following quotations a the Report of the Auditor Indiana, dated February let. 1858: SPECIE P ATI DISCOUNT. Bank of Goshen, Goshen. Bank of Gosport, Gosport. Bank of Mt, Vernon, Mt. Vernon. Bank of P oli. Wabash. Bank of a Bank of Altany. Bank of So Bioomington Bank, Bloomington. Cambridge City Bank, Cambridge City. Exchange Bank, Greeneastle. Bank of Indiana Michigan City. Canal Bank, Evansville. Central B'k, Indianapolis, redeemed by Treasurer of State. Crescent City Bank, Evansville. Bank of Elkbart. Brookville Bank, Indiana. Cambridge City Bank. Farmers Bank, W field. on. M Indiana Bank, Indiana Farm ink, Franklin. k, Columbus. Kentucky Sto Lagrange BankyLisha. Parke County Bank, Rockville. Prairie City Bank, Terre Haute. Bank of Monticello Fayette County Bank. Merch. & Mech. Bk. New Albany. Bank of Syracuse. Indian Reserve Bank. Hoosier Bank. SUSPENDED-AT 25 DISCOUNT. Agricultural Bank. Atlantic Bank. Bank of Albany. Bank of Albion. Bank of Attica. Bank of America. Bank of Bridgeport. Bank of Connersville. Bank of Perrysville. Bank of South Bend. Bank of T. Wadsworth. Bank of the Capitol. Bank of N. America, Clinton Bank of Rockport. Elkhart County Bank. Savings Bank, Connersville, (secure,) 40 dis. Farmers' Bank, Jasper. Kalamazoo Bank. Laurel Bank. Northern Indiana Bank. N. Y. & Va. St. Stock Bank. Orange Bank. State Stock Bank of Indiana, Peru. State Stock Bank, Marion. Savings Bank of Indiana, (secured). Traders' Bank, Nashville. Wabash Valley By. Wayne Bank, Richmond. Wayne Bank, Logansport. Bank of Warsaw. Huntington County Bank. There is 80 little suspended Indiana paper now in circulation, and rates are 80 unreliable, that we do not deem it worth while to give quotations.