17193. Cincinnati Savings Bank (Cincinnati, OH)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
savings bank
Start Date
March 15, 1878
Location
Cincinnati, Ohio (39.103, -84.515)

Metadata

Model
gpt-5-mini
Short Digest
d72a3625

Response Measures

None

Description

Multiple articles (March 15, 1878) report the Cincinnati Savings Bank 'recently suspended' and that court-appointed examiners found assets ($480,000) exceeding liabilities ($437,000) and declared the bank well managed and amply secured. No explicit run on this specific bank is described; suspension appears to have been by court/examiner action and the positive examiner report suggests the bank was likely to resume, so I classify as suspension_reopening.

Events (1)

1. March 15, 1878 Suspension
Cause
Government Action
Cause Details
Examiners appointed by Judge Burnet (a court) investigated the bank after it 'recently suspended'; suspension appears to be by court/examiner action rather than a depositor run or insolvency revelation.
Newspaper Excerpt
the Cincinnati savings bank, recently suspended, report to-day that the assets are $480,000 and the liabilities $437,000.
Source
newspapers

Newspaper Articles (4)

Article from Daily Press and Dakotaian, March 15, 1878

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Article Text

MISCELLANEOUS. MARRIED Sioux City, March 15.-John M. McDonald, sheriff of Woodbury county, was married last night to Miss Nettie Foster. The affair was very private, only a few of the intimate friends of the bride and groom being present. A VERDICT FOR THE GOVERNMENT. Philadelphia March 15.-In the suit of the United States vs. Minor Trust company, to force the tax against the deposits and capital of the bank which is the same that Jacob Huntseinger, now serving a term in the Berk's county jail, was defaulting. The president of the bank resisted the claim, upon the ground that the capital had been wasted, the deposits had been squandered, and only existed upon the bank. The jury however, gave a verdict for the government THE ARLINGTON CASE. Richmond, March 15.-In the the United States circuit court to-day, Judge Hughes rendered a decision in the Arlington case, sustaining the plaintiffs demurer, the attorney general's suggestion, that because the United States was indirectly defendant to the suit, the court had no jurisdiction to try it. The ruling is that if sovereign power intervenes in the suit in which it is not a defendant on the record, with objection that it cannot be sued, the court will look into the grounds of its right to intervene, and that accordingly the government in this suit must stand on the strength of its title, and not upon its exemption from suit. A CAUSELESS RUN. Boston, March 15.-A run, now causeless, is on the Five Cent Savings bank, one of the largest savings banks in the state. A GENERAL PANIC. Boston, March 15.-The run on the Boston Five Cent Savings bank begun yesterday, has developed into a general panic. School street, where the bank is located, has been blockaded by the crowd to-day, and the excitement has been intense. The committee examining the securities of the state, after deducting all depreciation, which the assets embracing stocks, bonds, have suffered, and all owing $167,000 with which to pay the interest falling due on the 1st of April, the bank will have a surplus upwards of $429,000. Uneasiness has spread to the Franklin bank, in Boylaton street, one of the strongest savings institutions in the country. The managera of the Franklin have limited the amount paid to the depositors on demand, to $25, and sixty day's notice is required for all sums over that amount. This action reduces to three the number of the banks in Boston, paying in full, on demand. An unusually large number of depositors in provident institutions for savings, are partaking of the general scare, and are obtaining their b money. SUSPENSION Cinclubati, March 15.-The examiners appointed by Judge Bennett, to Investigate the affairs of the Cincionati Savings bank report to-day the assets at $480,000; liabilities $437,000. The examiners declare that the affairs of the bank have been prudently managed, and the security on hand for the payment of the obligations is more than ample PENNSYLVANIA'S UNIVERSITY. Philadelphia, March 15.-The medical department of the university of Pennsylvania graduated to-day 127 students, and conh terred the honorary degree of doctor of laws a on John Weigh, United States minister to England,


Article from The Rock Island Argus, March 15, 1878

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Article Text

OHIO. CINCINNATI. March 15.-The examiners appointed by Judge Burnet to investigate the affairs of the Cincinnati savings bank, recently suspended, report to -day that the assets are four hundred and eight thousand. liabilities $437,000. The examiners declared the affairs of the bank have been prudently managed, and the "security on hand for the payment of obligations is more than ample.


Article from Daily Globe, March 16, 1878

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Article Text

SAVINGS BANK PANIC. Wild Rush of: Reared Depositors on the Boston Institutions--A Cincinnasi Concern Closes its Doors. BOSTON, March 15.-The run on the Boston five cent savings bank, begun yesterday, has developed into a general panic. School street, where the bank is located, has been blockaded by a crowd to-day, and the excitecitement has been intense. The committee examining the securities state that after deducting all the depreciation which the assets, embracing stock, bonds, &c., have suffered, and allowing $157,000 with which to pay the interest falling due the first of April, the bank will still have a surplus of upward of $429,000. The uneasiness has spread to the Franklin bank in Boyleston street, one of the strongest savings institutions in the country. The managers of the Franklin have limited the amount paid to depositors on demand to twenty-flve dollars, and sixty days notice is required for all sums over that amount. This action reduces to three the number of banks in Boston paying in full on demand. An unusually large number of depositors in the Provident Institution for savings are partaking of the general scare, and applied for and obtained their money to-day, and the same is true of the Suffolk, although these banks are as far as known solvent to the last degree. SOUND BUT SUSPENDED. CINCINNATI, Ohio March 15.-The examiners appointed by Judge Burnett to investigate the affairs of the Cincinnati savings bank, which recently suspended, report to-day that the assets are $480,000 and the liabilities $437,000. The examiners declare that affairs in the bank have been prudently managed and that the security on hand for payment of obligations is more than ample.


Article from The Stark County Democrat, March 21, 1878

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Article Text

THE CINCINNATI BUSTED BANK. Cincinnati, March 15.-The examiners appointed by Judge Burnet to invess tigate the affairs of the Cincinnati Savings bank which recently suspended, report to-day that the assets are four huns dred and eighty thousand dollars, and liabilities four hundred and thirty-seven thousand dollars. The examiners declare the affairs of the band have been props erly managed, and that the security on hand for the payment of obligations is more than ample.