Bank of Geauga - Painesville, OH

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: April 7, 1841
Location: Painesville, Ohio (41.724, -81.246)

Metadata

Model: gpt-5-mini
Short Digest: 77c5d7999eec18cc

Response Measures

None

Description

The single article (New-York Tribune, 1841-04-27) states the Bank of Geauga, Painesville, Ohio, 'suspended specie payment on the 7th inst.' No run, reopening, or receivership is reported in the provided material. The OCR shows 'Painsville' in the article; corrected to Painesville. No cause for the suspension is given, so I classify cause as 'other' and, because there is no evidence of permanent closure, I use suspension_reopening (temporary suspension) but this is tentative given limited information.

Events (1)

1. April 7, 1841 Suspension

Cause Details: Article only reports that the bank 'suspended specie payment' on April 7; no reason or precipitating cause is provided.
Newspaper Excerpt: The Bank of Geauga, Painsville, Ohio, suspended specie payment on the 7th inst.
Source: newspapers

Newspaper Articles (1)

1. April 27, 1841 New-York Tribune New York, NY

Article from New-York Tribune, April 27, 1841

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Article Text

Commercial and Money Matters. Monday, P. M. Stocks generally advanced to-day. The sales of N. A. Trust were large, and that stock improved 12 per cent. U.S. Bank went up Del. & Hud. do. 1. Harlem do. i. 1,000 Illinois sixes, 1875, sold at 494. 14,300 Indiana bonds at 523. 53. at do do 2,000 The St. Lawrence Bank, we are glad ta learn, has made arrangements to redeera its notes in this city in a few days. The Philadelphia Correspondent of the Journal of Commerce states that some negotiations are going OR between the U. S. Bank and the other Banks of Philadeiphin, in relation to the notes of the former institution. The Bank of Geauga, Painsville, Ohio, suspended specie payment OR the 7th not. One dollar notes of the Lafayette Bank of New York, altered to teas have made their appearance in Philadelphia. The alteration is most skilfully effected in every part, except the body of the note, and here may be detected the word 'one,' in script letters, but the size and appearance of the S, which has been affixed to the word dollar," in the centre of the notes, is the surest test. The centre vignette represents a small sail boat. and in the left hand corner a vignette of Lafayette. The figure 10 is in three places on the note. No. 5669, date scratched out, signed A. Cohill, Cashier, and Ben. Wakeman, President. By a recent report of the situation of the Bank of Tennessee and Branches, it appears that the $3,700,619 Discounts $1,283,780 Circulation is 718,300 Due from Banks 363,983 Deposits 211.396 Notes of other Banks 139,313 Due Banks 488,819 99,281 Specie Treasurer of Tenn. There is not much doing in Foreign Exchange, and the rates remain without change. In Domestic. the market is rather inactive. The quotations are as below: Domestic Exchanges. 4a Baitimore it at Philadelphia 1 11 Charleston 51 a 51 Richmond 12 a 15 Augusta 24 a 3} Savanush 8 a 54 Louisville 91 a 9) Mobile 7 a it Cincinnati 51 a 5) N. Ogleans 12) 9j a 10 Nashville St. Louis Markets.