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Commercial
May 29, 1837
Lynchburg Virginian
Lynchburg, Virginia
What is this article about?
The Merchants and Mechanics' Bank of Wheeling, Va. suspended specie payments. The North Western Bank of Virginia's directors considered similar action but avoided it to prevent losing their charter under the new banking act, according to the Wheeling Gazette.
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Full Text
The Merchants and Mechanics' Bank of Wheeling, Va. has suspended specie payments. The Wheeling Gazette says: "The directors of the North Western Bank of Virginia, we believe, would have acted in a similar manner, were it not for the fact that by so doing their charter would be irretrievably lost, they having accepted under the new banking act of the Commonwealth."
What sub-type of article is it?
Banking
Economic
What keywords are associated?
Bank Suspension
Specie Payments
Wheeling Va
North Western Bank
Banking Act
What entities or persons were involved?
Merchants And Mechanics' Bank Of Wheeling, Va.
North Western Bank Of Virginia
Wheeling Gazette
Where did it happen?
Wheeling, Va.
Commercial Details
Location
Wheeling, Va.
Key Figures
Merchants And Mechanics' Bank Of Wheeling, Va.
North Western Bank Of Virginia
Wheeling Gazette
Notable Details
Suspended Specie Payments
Directors Would Have Acted Similarly But For Charter Loss
New Banking Act Of The Commonwealth