17200. Citizen's Bank (Cincinnati, OH)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
October 26, 1854
Location
Cincinnati, Ohio (39.103, -84.515)

Metadata

Model
gpt-5-mini
Short Digest
38b2bf81

Response Measures

Full suspension

Other: Closure appears permanent; no receiver explicitly mentioned in articles.

Description

Contemporary reports (Nov. 8, 1854) describe a heavy run on Citizen's Bank followed by its immediate closing. The run appears connected to multiple local bank failures (Ellis & Sturges, Goodman & Co.), so the cause is classified as distress among local banks. No reopening is reported in the supplied articles.

Events (3)

1. October 26, 1854 Other
Newspaper Excerpt
The institutions upon which the run was made suffered no inconvenience whatever, except a little more business than usual. ... The greatest run was upon ELLIS & STURGES, and was but child's play, although so many playing against one made it a busy time-when the children got tired they went to their homes, and ELLIS & STURGES had more money than when the ball openéd.
Source
newspapers
2. November 8, 1854 Run
Cause
Local Banks
Cause Details
Heavy withdrawals triggered by failures/closures and runs on other Cincinnati banking houses (Ellis & Sturges; Goodman & Co.).
Newspaper Excerpt
There has been a heavy run on the Citizen's Bank and on T. S. Goodman & Co., and the excitement on the subject is intense.
Source
newspapers
3. November 8, 1854 Suspension
Cause
Local Banks
Cause Details
Bank closed immediately after heavy run associated with other local bank failures and widespread withdrawals.
Newspaper Excerpt
Second Despatch.-The Citizen's Bank is closed and the excitement on the increase.
Source
newspapers

Newspaper Articles (3)

Article from Eaton Democrat, October 26, 1854

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Article Text

The following notice which we clip from the Cincinnati Enquirer of Friday morning last. will give our readers a little idea of the condition of money matters in the "Queen City" last week. The institutions upon which the "run" was made suffered no inconvenience whatever, except a little more business than usual. The good-natured phiz of our friend HUGHES of the "Citizen's Bank." lost none of its pleasantness, although the great drops of perspiration gathered thickly around his brow fromthe unusual activity demanded by the pressure of the times. CoLLARD'S dark keen eye shot out glances of defiance as he cast a look at the little crowd of anxious depositors, and then at their well-filled coffers. SMEAD, COLLARD & HUGHES might stand such a "run" with an additional locomotive and six burden trains, without any serious injury or quite exhausting their means. The greatest "run" was upon ELLIS & STURGES, and was but child's play, although so many playing against one made it a busy time-when the children got tired they went to their homes, and ELLIS & STURGES had more money than when the ballopenéd. Several smaller fry closed up, and we wish more of the same sort would follow in their wake-there would not be so many crisises in money matters, if all the little shaving shops in our cities were rooted out. They are like so many dens with fair exteriors but nothing inside.


Article from Daily Davenport Gazette, November 10, 1854

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Article Text

New Jersey is understood to strongly Anti-Nebraska, electing four if not all Whig and Anti-Nebraska, members of Congress. The legislature is also largely Anti-Nebraska. PHILADELPHIA, Saturday, Nov. 4. This is a hard day for money with our S dry goods merchants, but they will probably weather the storm. An immense number of notes were paid at the banks to-day; in fact it has never been exceeded. NEW ORLEANS, Friday, Nov. 3. The liabilities of Messrs. Bean & Co., the bankers, W ose suspension was previously announced, amount to about $100,000. CINCINNATI, Nov. 8. The banking house of Ellis & Sturges closed this A. M. They say the liabilities are one million dollars, and assets fourteen hundred thousand. There has been a heavy run on the Citizen's Bank and on T. S. Goodman & Co., and the excitement on the subject is intense. Second Despatch.-The Citizen's Bank is closed and the excitement on the increase. NEW YORK, Nov. 8-3 P. M. City returns thus far show a majority for Barker, Know Nothing for Mayor; the contest is extremely close. Kelly, soft, beats Mike Walsh for Congress. The Tribune adheres to the opinion that Seymour is elected governor, but thinks Scroggs, K. N., or possibly Raymond, whig, is elected Lieut. Governor owing to Ludlow running behind his ticket. 3½ o'clock, P. M. The total returns received thus far from all towns, wards and counties foot up as follows: Governor. Ullman, 50,126; Seymour, 47,380; Clark, 37,620; Bronson, 7,432. NEW YORK, Nov. 8-613 P.M. The city and suburbs returns continue to come in slowly. They indicate the election of Stranahan, whig, in the 2d (Brooklyn) district to Congress, of Pelton, whig, in the 3d, Kelly, soit dem., in the 4th.Fifth, uncertain, between Andrews and Whitney; 6th John Wheeler, A. N.; 7th. Thos. Childs, Jr., whig; 8th, Abraham Wakeman, whig, and 9th, Bozard Clarke, whig. In 12 wards in Brooklyn the vote for Governor is as follows: Seymour 2,450, Ullman 2,364, Clark 2,152, Bronson 319. MILWAUKEE, Nov. 8,6 P. M. Legislature largely anti-Nebraska. Wells dem., is elected to Congress in the 1st, Washburn in the 2nd, and the 3d district not heard from. ALTON, Nov. 8. Miller's majority 327. Trumbuli for Congress, majority 324. Gillespie, whig, for State Senator, 470 maj. LASALLE, Nov. 8. Miller's majority 46. Norion do, 46; for Legislature Day, A. N., 44 maj; Strawn, do 43. PERU, Nov. 8. Norton's majority is about 1,500 in this city; Millers do. LOCKPORT, III., Nov. 8. Miller's majority 93; Norton's do, 105.Norton has probably carried Will county by 500 majority; majority for Parks 103; Hills 124, Strawn 80. OTTOWA, III., Nov. 8. Drake for Congress, 45 majority: Armstrong for Legislature 64; McCormick do 53. BOSTON, Nov. 8. The Cunard steamer Niagara sailed today with 62 passengers for Liverpool and 22 for Halifax. She took out $386, 327 in American gold and £32,000 in British gold. The New Foundlander, published'at StJohn's N. B, contains the following ab. stract of the course of clipper ship John Clemens, Capt. Lucky, in search of the missing boats of the Arctic. He was out nine days and experiensed very heavy weather. Has been some 800 miles south. Saw a large chest but was unable to get it on board. The boats have been picked up by vessel bound outward. PRUSSIA'S LAST.-The King of Prussia,


Article from Southern Shield, November 11, 1854

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Article Text

MORE FAILURES AT CINCINNATI, CINCINNATI, Nov. 8.-Ellis - & Sturges closed this morning. Their liabilities are said to be a million of dollars, and their assets four hundred thousand. Heavy run made on Goodman & Co., and the Citizen's Bank, and they closed immediately.