Jacob Little & Company - New York, NY

Episode Information

Episode UID: 8658567890692
Episode Type: Suspension → Closure
Bank Type: private
Bank ID: 865856789 hash
Start Date: August 26, 1857
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: eed3b81a1402710c

Response Measures

None

Description

Article states the firm have again failed — indicates permanent failure rather than a temporary suspension.

Events (1)

1. August 26, 1857 Receivership

Newspaper Excerpt: NEW YORK, August 26-Jacob Little & Co. have again failed for about $5,5 000,000.
Source: newspapers

Newspaper Articles (1)

1. September 5, 1857 The Texas Republican Marshall, TX

Article from The Texas Republican, September 5, 1857

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Article Text

General Intelligence. NEW YORK, August 26-Jacob Little & Co. have again failed for about $5,5 000,000. The Warren bank of Pennsylvania is reported to have failed. Also several others. Benedict & Co., of New York city, have failed--Fisher & Co., of New York city have also failed. The Emperor and Empress of France are visiting queen Victoria. The Italian conspirators against the life of Louis Napoleon have been found guilty, and one sentenced to transportation, and the others to imprisonment for fifteen years. The misunderstanding existing between Turkey and France continues. The French embassador at Constantinople struck bis flag on the 5th. A destructive fire had taken place in Galata, destroying five hundred houses. [ Galata is a large suburb of Constantis nople, and is the chief seat of the foreign trade of the city, the residents being mostly Europeans] A dispatch from St. Petersburg announs ces that Schamyl's troops were beaten at Isalatiria, and 400 of his men killed. Lord Palmerston stated in parliament that 30,000 troops have been sent to India. NEW YORK, August 24.-The Ohio Life and Trust company has suspended. There is great excitement in consequence. This failure has caused a very serious panie in the stock market. 11 is one of the most important suspensions that has occurred since the Schuyler explosion. The Atlantic telegraph cable had parted, and the squadron returned to England. It is generally conceded in England that no further attempt will be made to lay the cable this year. The submarine telegraph cable was broken on the morning of the 11th inst., the squadron being then 335 miles west of the Irish coast. The vessels were res turning to England with the remainder of the cable. A conference was to be held in London on the 15th August, the day the America left, to determine whether to proceed ims mediately with the enterprise, or to wait until next summer. The department takes the same ground that judge Taney did in the Dred Scott case--i, e., A negro cannot be a citizen of the United States. Boston, August 21.- is reported that Blanchard, Sherman & Co., have suspend. ed in consequence of the failure of Bates & Co. Liabilities $500,000. Assets $250,000.