Agricultural Bank (Mount Sterling, IN)

Episode Information

Episode UID
8240108790670
Episode Type
Suspension โ†’ Closure
Bank Type
private
Bank ID
824010879 hash
Start Date
October 10, 1855
Location
Mount Sterling, Indiana (38.796, -85.074)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
4b122bbc3b76ac19

Response Measures

None

Description

Article explicitly lists the bank among 'suspended' Indiana banks whose pledged securities are to be sold; implies permanent closure/liquidation.

Events (1)

1. October 10, 1855 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank listed among suspended Indiana banks; securities held in trust for redemption of circulating notes are being sold at auction to satisfy noteholders.
Newspaper Excerpt
Agricultural Bank, at Mount Sterling; ... securities held in trust for the redemption of the circulating notes ... will be sold at auction
Source
newspapers

Newspaper Articles (2)

Article from Plymouth Banner, January 18, 1855

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Article Text

From the State Journal. Indiana Free Banks. CORRECTED WEEKLY. WEDNESDAY Evening, Jan. 10. The Bank of the Capitol and the Farmers and Mechanics' Bank to-day receive on deposit at par, only the bills of the following named Banks: CLASS NO. 1. Bank of Indiana, Michigan City, Bank of Syracuse, Syracuse. Bank of Rockville, Rockville. Bank of the Capitol, Indianapolis. Bank of Salem, (south,) Salem. Bank of Brookville, Brookville. Bank of Monticello, Monticello. Bank of Goshen, Goshen. Bank of Elkhart, Elkhart. Bank of Mt. Vernon, Mt. Vernon, Bank of Warsaw, Warsaw, Cambridge City Bank, Cambridge. Central Bank, Indianapolis. Central Bank, Evansville. Crescent City Bank, Evansville. Farmers Bank, Westfield. Farmers & Mechanics Bank, Indianapolis. Fayette County Bank, Connersville. Grammercy Bank, Lafayette. Government Stock Bank, " Hoosier Bank, Logansport. Indiana Bank, Madison. Indiana Stock Bank, Laporte. Kalamazoo Bank, Albion. Kentucky Stock Bank, Columbus. Lagrange Bank, Lima. Laurel Bank, Laurel. Merchants and Mechanics Bank, New Albany. New York and Virginia State Stock Bank, Evansville. Prairie City Bank, Terre Haute. Salem Bank, (north) Salem. Southern Bank of Indiana, Terre Haute. Savings Bank, Connersville. Traders bank, Indianapolis. CLASS NO. 2. Agricultural Bank, Mt. Sterling. Bank of Rochester, Rochester. Bank of Rensselear, Rensselear. Bank of Rockport, Rockport. Bank of Perrysville, Perrysville. Bank of Attica, Attica. Bank of North America, Clinton. Delaware County Bank, Muncie. Farmers and Mechanics Bank, Rensselear. Green County Bank, Bloomfield. Huntington county Bank, Huntington. Indiana Reserve Bank, Kokomo. N. Y. State Stock Bank, Vincennes. Perry Co. B'k, Cannelton. Pub. Stock Bk, Newport. People's Bk, Lima, Lima. Shawnee Bk, Attica, State Stock Bk, Jamestown. State Stock Security Bk, Newport. State Stock Bk, Marion. Syracuse Bk, Syracuse. Trader's Bk, Nashville. Tippecanoe Bk, Winnemac. Wabash River Bk, Jasper. Wabash River Bk, Newville. Wabash River Bk, New Corrydon. Wabash Valley Bk, Logansport. Western Bk, Plymouth. The First Class embraces those which redeem their bills in coin. The Second comprises those which have, at times, declined to pay Brokers and "Bank runners," but which are based on 5 per cent. stocks, and whose proprietors give care and attention to them. Many of our business men have restricted their receipts to the First Class. Others are gradually curtailing the Second Class, and it is probable that, in a short time, all which are not by their owners made equal to those in the First Class by prompt redemption of their notes in specie, will be rejected as uncurrent. The following named Banks are those which, it is understood, make no payment of their notes to any one, and which are, most of them, secured by 5 per cent. Indiana Bonds. The discount at which their paper will be received, will depend on the selling price of their stocks in New York. The following portion of the Third Class have been taken to-day on deposit at the Bank of the Capitol and the Farmers' and Mechanics' Bank, at FIFTEEN PER CENT. DISCOUNT. Bank of Covington, Covington. Bank of South Bend, South Bend. Bank of Fort Wayne, Fort Wayne. Elkhart Co. Bank, Goshen. Farmers' Bank, Jasper. Northwestern Bank, Bloomfield. Steuben Co. Bank, Angola. Upper Wabash Bank, Wabash. Wayne Bank, Logansport. Wayne Bank, Richmond. Great Western Bank, Terre Haute. Starke Co. Bank, Knox. The following named have been received on deposit to-day at the Bank of the Capitol and the Farmers' and Mechanics' Bank, at THIRTY PER CENT. DISCOUNT. Bank of Albany, New Albany. Bank of T. Wadsworth, Michigan City. Bank of North America, Newport. Bank of Auburn, Auburn. Atlantic Bank, Jackson. Bank of Albion, Albion. Bank of Connersville, Connersville. Bank of America, Morocco. Bank of Bridgeport, Bridgeport. Drovers' Bank, Rome. Merchants' Bank, Springfield. Merchants' Bank, Lafayette. Northern Indiana Bank, Logansport. Orange Bank, Poseyville. Plymouth Bank, Plymouth. State Stock Bank, Logansport. State Stock Bank, Peru. Traders' Bank, Terre Haute.


Article from Daily Davenport Gazette, October 10, 1855

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Article Text

SALE OF STOCKS OF SUSPENDED INDIANA BANKS.-The Indiana State Auditor gives notice that the securities held in trust for the redemption of the circulating notes of the Plymouth Bank, at Plymouth; State Stock Security Bank, at Newport; Traders' Bank, at Terre Haute; Drovers' Bank, at Rome; Farmers' Bank, at Sterling: Agricultural Bank, at Mount Sterling; and New York Stock Bank, at Vincennes-all of Indiana-will be sold at soction at the Merchants' Exchange, New York city, at noon on the 29th inst. These securities consist sist of Indiana and Pennsylvania fives and Virginia and Louisiana sixes.