State Stock Bank (Marion, IN)

Episode Information

Episode UID
8693581590690
Episode Type
Suspension → Closure
Bank Type
private
Bank ID
869358159 hash
Start Date
June 12, 1857
Location
Marion, Indiana (40.550, -85.659)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
ecc7d1c71cb7e1bc

Response Measures

None

Description

Articles show the bank listed as suspended and redeemed at the Auditor's office at a discount, implying permanent suspension/closure.

Events (1)
1. June 12, 1857 Suspension
Cause
Macro News
Cause Details
Suspended during the 1857 banking disturbances; notes redeemed at the Auditor of State at 90 cents, indicating state-level suspension and liquidation process.
Newspaper Excerpt
The suspended banks, redeemed at the Auditor's office at 90 per cent are... State Stock Bank, Marion
Source
newspapers

Newspaper Articles (11)
1. November 7, 1854 Minnesota Weekly Times Saint Paul, MN
Article from Minnesota Weekly Times, November 7, 1854

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Article Text

FRANKLIN AND HIS CREW.From official information which we publish to-day, there no longer exists a doubt but the fate of the North-West Pas. sage explorers are forever sealed-they have been starved to death! In imagination we see them, pale and emaciated, wandering over the polar seas vainly searching for food, with no human eye to pity and no arm to save. At last nature's tired frame can no longer endure the pangs of hunger, and gently they lay them down on their cold beds and resign themselves into the arms of death.Perhaps as they closed their eye-lids visions of home, kindred, friends swept before them-perhaps they were once more in the midst of the family circle with their wives and little ones, and the fire blazed warmly on the hearth. Then, the vision vanished, and the awful reality crowded upon the brain that they must die! But why should we picture the scene? It is vivid enough in the minds of all. last fitful fever's o'er and they sleep well." Let them rest calmly in their icy graves. History will record their heroic efforts to discover the North-West passage, and thereby open new fields of interest to the civilized world. THE INDIANA BANKS. There is so much said now-a-days respecting the solvency and insolvency of the State Stock Banks of Indiana, that we give the following schedule of those banks which are reported broken, extracted from the report of the Auditor of the State. We think the bills of most of the Indiana Banks are good, and that the present panic will soon subside, still it would be well for our citizens to keep as much of the money out of their hands as possible-this is the safest course. Those who hold bills on those Banks not known absolutely to be broken, need not give themselves any alarm. By holding on they will be obliged to sacrifice no more than they will be by allowing the brokers to shave them. But hear what the Auditor says: Bank of Connersville. Capital $1,000,000: total circulation, $517,681. Secured by Indiana 5 and 21-2 per cents, and Ohio 6 per cents. Elkhart Co. Bank, at Goshen. Capital $500,000; total circulation $320,000. Secured by North Carolina 6 per cents, and Louisiana 6 per cents. Bank of Rensselaer. Capital $500,000 total circulation $114,000. Secured by Pennsylvania 5 per cents and Louisiana 6 per cents. Bank of America, at Morocco. Capital $500,000; total circulation $49,218. Secured by Pennsylvania 5s and Indiana 6 per cents stocks. State Stock Bank, at Jamestown. Capital $600,000; total circulation $337,000. Secured by Virginia and Ohio 6 per cents. Bank of Attica. Capital $300,000; total circulation $144,479. Secured by Indiana 5 per cents and Virginia 6. per cents. Northern Indiana Bank, at Logansport. Capital $200,000; total circulation $100,000. Secured by Indiana 5 per cents and Missouri 6 per cents. Western Bank, at Plymouth. Capital $200,000; total circulation, $100,000. Secured by Indiana 5 per cents and Virginia 6 per cents. State Stock Security Bank, Newport. Capital $250,000 total circulation $100,000. Secured by Indiana and Penn. 5s and Virginia 6 per cents. Drover's Bank, Rome. Capital $250,000; total circulation $49,798. Secured by Indiana 5 per cents. State Stock Bank, Marion. Capital $600,000; total circulation $75,000. Secured by Louisiana and Virginia 6 per cents. Public Stock Bank, Newport. Capital $200,000 total circulation $109,314. Secured by Indiana 1-2 and 5 per cents. Hosier Bank, Logansport. Capital $200,000; total circulation $49,985. Secured by Missouri and Louisiana 6 per cts. From the same report, says the Madison (Ind.) Daily Banner, it appears that the aggregate capital of the free banks is $32,900,000, and the total. circulation $7,426,067. Herewe have a " capital of nearly four and a half to one of debt," and yet the public must be shaved from two to ten per cent. on the paper of these banks.

2. June 12, 1857 The New York Herald New York, NY
Article from The New York Herald, June 12, 1857

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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.

3. July 9, 1857 Marshall County Democrat Plymouth, IN
Article from Marshall County Democrat, July 9, 1857

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Suspended Free Banks. The following is a list of the suspended Free Banks of this State, showing where redeemable, and value: Bank of Attica, at Auditor's office at 80 cents. Bank of America, Auditor's office, at 87 cents. Bank of Albany, Auditor's office, at 90 cents. Atlantic Bank, Auditor's office, at 80 cents. Agricultural Bank, Auditor's office, at par. Bank of Connersville, Auditor's office, at 87 cents. Elkhart County Bank, Auditor's office, at 97 cents. Farmers' Bank, Jasper, Auditor's office, at 91 cents. Kalamazoo Bank, Auditor's office, at 90 cents. Laurel Bank, Auditor's office, at 82 cents. Northern Indiana Bank, Auditor's office, at 83 cents. Orange Bank, Auditor's office at par. Bank of Perrysville, Auditor's office, at par. Bank of Rockport, Auditor's office, at par. State Stock Bank, Peru, Auditor's office at 85 cents. State Stock Bank, Marion, Auditor's office, at 90 cents. Bank of South Bend, Auditor's office, at par. Traders' Bank, Nashville, Auditor's office, at 92 cents. Bank of T. Wadsworth, Auditor's office at 91 cents. Wabash Valley Bank, Auditor's office, at 92 cents. Wayne Bank, Logansport, Auditor's office, at par. Wayne Bank, Richmond, Auditor's office, at par. Bank of North America, Auditor's office, at 90 cents. Savings Bank of Indiana, Connersville, Auditor's office, 90 cents. Bank of Warsaw, Central Bank, Indianapolis, at par.

4. April 19, 1858 The Daily Gate City Keokuk, IA
Article from The Daily Gate City, April 19, 1858

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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.

5. April 21, 1858 The Daily Gate City Keokuk, IA
Article from The Daily Gate City, April 21, 1858

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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.

6. April 23, 1858 The Daily Gate City Keokuk, IA
Article from The Daily Gate City, April 23, 1858

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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.

7. May 6, 1858 The Daily Gate City Keokuk, IA
Article from The Daily Gate City, May 6, 1858

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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.

8. May 13, 1858 Marshall County Democrat Plymouth, IN
Article from Marshall County Democrat, May 13, 1858

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New York & Virginia State Stock Bank, at par. Orange Bank, at par. State Stock Bank of Peru, at 85. do Marion, at 90. Savings Bank of Indiona, at 69. Traders' Bank, Nashville, at 92. Wabash valley Bank, at 92. Wayne Bank, Richmond, at par. Wayne Bank Logansport, at par. Bank of Warsaw, redeemed at the Bank. Persons sending notes for redemption, will take notice that all suspended banks, the notes of which are redeemed at this office, are on the above list. JOHN W. DODD, Auditor of State.

9. June 10, 1858 The Daily Gate City Keokuk, IA
Article from The Daily Gate City, June 10, 1858

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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.

10. July 20, 1858 The Daily Gate City Keokuk, IA
Article from The Daily Gate City, July 20, 1858

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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. all 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. CentralB'k, Indianapolis, redeemed by Treasurer of State. Crescent City Bank, Evansville. Bank of Elkhart. Brookville Bank, Indiana. Cambridge Bank. Farmers' Bank, Westfield. Indiana Bank, Madison. Indiana Farmers' Bank, Franklin. Kentucky Stock Bank, Columine. Lagrange Bank, Lima. 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. AtlanticBank. Bank of Albany. Bank of Albion. Bank of Attica. Bank of Ameries. 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 80 unreliable, that we do not deem it worth while to give quotations.

11. November 25, 1858 Marshall County Republican Plymouth, IN
Article from Marshall County Republican, November 25, 1858

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Indiana Free Banks. 1 OFFICE OF AUDITOR OF STATE, INDIANAPOLIS, Nov 1, '58. ( The following Banks have complied with the amended law of 1855, and have securities deposited with the Treasurer of State, at their market value, to an amount not less than fifty thousand dollars, and ten per cent, in excess of their circulation: Bank of Elkhart, Elkhart; Bank of Goshen, Goshen; Bank of Gosport, Gosport; Bank of Mt. Vernon; Mt. Vernon; Bank of Paoli, Paoli; Bank of Bockville, Wabash; Bank of Salem Salem; Bloomington Bank, Bloomington; Exchange Bank, Greencastle; Indiana Bank, Madison; Indiana Farmer's Bank, Columbus; Lagrange Bank, Lima; Parke County Bank, Rockville; Prairie City Bank, Terre Haute; Salem Bank, Goshen; Southern Bank of Indiana, Terre Haute. The notes of the following Banks are redeemed by the Auditor of State, viz. Atlantic Bank, at 80; Bank of Albany, 90; Bank of Albion, par; Bank of America, 87; Bank of Attica, 89; Bank of Bridgeport, 88; Bank of Connersville, 87; Bank of Perrysville, par; Bank of T. Wadsworth, 91; Bank of North America, Clinton, 90; Bank of Rockport, par; Farmers Bank, Jasper, 91; Kalamazoo Bank, 90: Laurel Bank, 82; Northern Indiana Bank, 38; New York Virginia State Stock Bank, par; Orange Bank, par; State Stock Bank of Indiana, Poru, 85; State Stock Bauk. Marion, 90; Savings Bank of Indiana, 69; Traders' Bank, Nashvilie, 92; Wabash Valley Bank, 92; Wayne Bank, Logansport, par; Bank of South Bend, par; Bank of Warsaw redeemed at the Bank. Persons seeking notes for redemption will take notice that all suspended Banks, the notes of which are redeemed at this office, are on the above list. JOHN W. DODD, Auditor of State.