17202. Citizens Bank (Cincinnati, OH)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
November 8, 1854
Location
Cincinnati, Ohio (39.103, -84.515)

Metadata

Model
gpt-5-mini
Short Digest
bc3ca2da

Response Measures

Accommodated withdrawals, Full suspension

Description

Multiple contemporary dispatches (Nov 8, 1854) report a heavy run on the Citizens Bank and then state that the Citizens Bank has closed. No articles mention a reopening; closure appears contemporaneous with runs and other local banking failures (Ellis & Sturges, etc.), indicating contagion from local bank distress. Bank type inferred as 'state' (pre-national-bank era).

Events (2)

1. November 8, 1854 Run
Cause
Local Banks
Cause Details
Heavy withdrawals triggered in the wake of nearby banking failures (Ellis & Sturges and others); contagion from local bank distress.
Measures
Paid demands during the early part of the disturbance (article: They paid every demand made upon them, and are well fortified against further demands).
Newspaper Excerpt
There has been a heavy run on the Citizens Bank
Source
newspapers
2. November 8, 1854 Suspension
Cause
Local Banks
Cause Details
Closure follows heavy run and broader panic among Cincinnati banks (closures/failures of Ellis & Sturges and other houses).
Newspaper Excerpt
The Citizens Bank has closed.
Source
newspapers

Newspaper Articles (6)

Article from Worcester Daily Spy, October 21, 1854

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Article Text

# FAILURE Cincinnati, Oct. 19. - Messrs. Outcall & Co., private bankers, failed to-day. There had been no run upon them. The run to-day was confined to Messrs. Ellis & Sturgiss, private bankers of the Citizens Bank and the Central Bank. They paid every demand made upon them, and are well fortified against further demands. Towards the close of the day, the excitement began to subside, and no further failures are apprehended.


Article from The New York Herald, November 9, 1854

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Article Text

More Bank Failures In Cincinnati. GREAT EXCITEMENT-SUICIDE OF A RAILROAD PRNSIDENT. CINCINNATI, Nov. 8, 1854. The banking house of Ellis & Sturges closed this more ing. They say their liabilities are $1,000,000, and asset $1,400,000. There has been a heavy run on the Citizens Pank, which has closed, and on T. S. Goodman & Ce The excitement on the subject is intense. The excitement in Third street has continued all the afternoon, and T. S. Goodman & Co. and John R. Morton & Co. closed their doors at an early hour. All the sua pended houses report an excess of assets. There was a run on the house of Hatch & Langdon, but they continued to pay up to the close of bank hours. No run had taken place on any other houses than these. Mr. Ellis, of the firm of Ellis & Sturges, is very sick with congestion of the brain. Frederick Gedge, the acting President of the Covington and Lexington Railroad, committed suicide to-day, by throwing himself across the track while a train was passing, by which his head was severed from his body. He had been perfectly distracted since the return of the bills from New York drawn against the bonds of the company, supposed to have been sold in New York, and on which he and the other directors had heavily endorsed.


Article from Wheeling Daily Intelligencer, November 9, 1854

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Article Text

bank FAILURES. Cincinnati, Nov. 8.-The Banking House of Ellis & Stargis, closed this morning. They say, its liabilities are $1,000,0000. As ets $1,400,000. There is a heavy run on J.S. Goodman & Co., and on the Uil zens Bank. Immense excitement. SECOND DISPATCH. The Citizens Bank has closed. Excitement increasing. PITTSBURGH, Nov. 8.-The Banking house of A. Wilkins & Co., has feiled, Liabilities not yet ascettained. inasta adison


Article from The Evansville Daily Journal, November 11, 1854

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Article Text

TELEGRAPHIC! NEW YORK ELECTION. NEW YORK, Nov. 8. Baker, the Know-Nothing candidate for Mayor, is believed to be elected. Governor Seymour is probably re-elected. The returns are not sufficiently complete to to tell with certainty. The counting in the city is not complete, owing to the lurge number of tickets and scattering votes. The following Congressmen are elected 13th district, Russell Sage, Whig; 14th, Capt. Harcourt, Independent 18th, Jackson, Hard; 20th, Moltron, Whig ; 29th, Williams, Soft and Know-Nothing. ALBANY, Nov. 8. The total vote of the city for governor is: Seymour 3,620, Ullman 2,474, Clark 2,363, Bronson about 2,050. NEW YORK, Nov. 8. P.M. The returns thus far gives a majority of a few votes for Fernando Wood over Baker, Know.Nott ing for mayor. The contest is extremely close. Chances favor Wood. John Kelly beats Mike Walsh for Congress. T e Tribune adheres to the opinion that Seymour will be elected Governor-thi ks Scraggs, Know-Nothing, will be Lieut Governor, or possibly Raymond Owing, Lod ow running behind his ticket. Returns thus far for Uliman, 50,126, Sey. mour, 47 380; Clark 37,600, Bronson 7,432 The mayor's vote is unsettled; complexion same as at noon. Congress returns indicate the election of the following; Second district, Stranaham, Whig. Third district, Tilton, Whig. Fourth district, Kelly, Democrat. Firth district, uncertan betw een Andrews and Whitney, both Migs. Sixth district; John Wheeler, Anti-Nebraska Democrat. Seventh district, Thomas Childs, Jr., Whig. Eighth district, Abram R. Wakeman. NEW JERSEY ELECTION. Third congressional district elected James Bishop, Whig. Pennington has 926 majority in Essex co. Clainson, Robinson and Pennington, Whigs,are believed to be elected in the 1st, 2d and 5th districts. MICHIGAN ELECTION. Returns indicate the election of the antiNebraska State and congressional ti. ket by an overwhelming majority. Waldridge and Howard, republicans, are elected to Congress. ILLINOIS ELECTION. ST. LOUIS, Nov. 8. Olney precinct for Congress, Allen, Dem. 112. Archer, Whig, 134; For Legislature, Preston, Dem, 151; Peterson, anti-Nebraska, 91. Carlinsville precinct, Yates' major i'y for Congress 54 Springfield precinct, Yates' majority 144. His total majority supposed about 400 in this precinct and 328 in the Jacksonville precinct. CINCINNATI, Nov. 8. Ellis & Sturgia' banking house, closed this morning. Liabilities $1,000,000; assets $1,400,000. The Citizens Bank has closed. The excitement is unabated. CINCINNATI, Nov. 8, P. M. The excitement on Third street continued all the afternoon. J. S. Goodman & Co., and Jno. R. Morton & Co., closed their doors after dinner. All the suspended houses report an excess of assets. There was a run on Hatch & Langdon, but they continued to pay up to the clos: of the bank hours. There was no run on the other houses. Mr. Ellis. of the firm of Ellis & Sturgis, is very sick of conge-tion of the brain. Frederick Gedge, acting President of the Covington and Lexington Railroad, committed suicide to day, by throwing himself across the break. His head was severed from his body. He distracted since the return of the bill from New York, drawn against the bonds of the company, suppesed to have been sold in New York, and on which he with the other directors was endorsed. Business of all kinks was partially suspended, owing to the bank excitement. PITTSBURGH. Nov 8. The banking house of A. Williams & Co., has failed. The liabilities are not yet ascer tained.


Article from Kenosha Telegraph, November 16, 1854

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Article Text

Great Failures in Cincinnati, CINCINNATI, Nov. 8th. The banking house of Ellis & Sturges closed this morning, liabilities over $1, 000,000, assets $1,400,000. There has been a heavy run on the Citizens Bank and Goodman & Co. and the excitement is entense. SECOND DISPATCH.--Citizens Bank is closed, and excitement on the increase.


Article from The Weekly Minnesotian, November 25, 1854

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Article Text

New Firm, The eting of the NL stort and No./Haven Bailread exciting. but orderly. The liabiliti the Company for frandulent stock was repudiated. The directors were requestto vacate their seats one by one and to fill their places by electing others as proposed in their resolution adopted at the meeting held in New York. The employment of Noyes and Wood, of N. Y., and S.S. Baldwin of New Haven was authorized to defend the Company in the matter of the suprious stock. NEW ORLEANS, Nov. 9th. The Austin Gazette says that the Governor has refused to receive the stocks offered by Walker and King to secure the Pacific railroad contract and the whole affair is considered a failure. NEW YORK, 9th, 9 P. M. The whige elect from 20 to 25 Congressmen in this state. NEW York, Nov. 7. Great riot in Williamsburg to-day ; 4 killed, 20 wounded. CINCINNATI, Nov. 8. The banking house of Ellls & Sturges closed this morning, liabilities over $1,000,000, assets $1,400,000. There has been a heavy run on the Citizens Bank and Goodman & Co., and the excitement is intense. SECOND DESPATCH.-Citizens Bank is closed, and excitement on the increase. QUEBEC, Nov. 6. The 16th Regiment have arrived in the troopship Resistance from Bermuda. Archbishop Bethune is here to oppose the Clergy Reserve Bill. NEW YORK, Nov. 7. The screw steamship Glasgow. from Glasgow on the 21st ult., arrived at this port this morning, bringing 365 passengers. Her dates are the same as those received by the Arabia. NEW YORK, Nov. 7. Havana papers of Thursday and Sunday have been received. The total deaths at Havana since the breaking out of the epidemic are 967, of which 600 were by yellow fever. WASHINGTON. Nov. 7. The Union ofthis morning says that Secretary Dobbin has desired his friends at home not to present his name to the Legislature as a candidate for the U.S. Senate from South Carolina. NEW ORLEANS, Nov. 7. There were but 42 deaths from yellow fever in this last week and the weather is cold.The total disapearance of the epidemic is confidently expected. BOSTON, Nov. 7. The schooner Lilly Dale. which arrived at St. John, N. B., on the 25th, reports having picked up one of the life-boats of the ill-fated Arctic and thought they saw nothing in the distance. TOLEDO, Nov. 7. About 9 o'clock last evening, a fire broke out in the warehouse occupied by Brown & King, near the foot of Cherry staeet, and before the engines could be brought to bear, enveloped the whole build ng in flames. The fire soon communicated itself to Scott & Co's. the next warehoure, and destroyed that building in spite of all their efforts to save it. The warehouses were both filled with goods and merchandise of all descriptions, part of which was saved. About 1000 barrels of flour was burned.But little of the merchandise was insured.The amount of insurances on the buildings we could not learn, yet it will not cover the loss in either case. Loss probably about 35,000 to 40,000 dollars. The fre originated from a stove pipe in the second story of Brown & King's warehouse, it is thought. MANCHESTER, N. H.. Nov. 7. The democrats of the 2nd District in Convention, unanimously nominated Geo. W. Morrison Anti-Nebraska candidate for Congress, and passed resolutions endorsing the National Administration. NEW YORK, Nov. 7. Max Balline, the Wine merchant of this city. who has been on trial for selling Champagne with false labels was yesterday sentenced to 60 days imprisonment in the City Prison. Owing to a dispute with the Morris and Essex R. R. Co., the city authorities of Newark ordered a portion of the road running thro that city, to be taken up, which was done early on Saturday. The Company obtained an injunction and restrained the city, at the same time issuing an order for relaying the track.The work of relay was commenced between 12 and 1 'clock of Sunday morning. but the citizens were on the ground and rung the bells.A mob quickly assembled and stopped the work. It was subsequently allowed to proceed. New York Elections. NEW YORK, Nov. 10. The Daily Times of this morning foots up the vote for Governor as follows Seymour, 96,190 Clark, 90,586 Ullman. 58 375 Bronson37,400. Seymour's majority will be less than 5,000. The Tribune gives Seymour a majority of 1,230. The full semi-official returns of this city give Wood, dem., 19,934. and Barker 18,583-plurality for Wood 1,351. Indiana Banks-Important. Auditor Dunn. of Ind., issued a circular to the effect that he will not sell stocks and redeem notes of banks that may be forced into liquidation, until he shall have given sixty days' notice in New York, London and Paris. and not even then if he should think it would be to the interest of the owners to postpone the sale further. He will furnish the stock at par. however, in return for notes, when the latter are presented in sums of $1,000. Michigan Election. The Detroit Free Pressof the 9th thus announces the result in Michigan. We subjoin all the returns of the election received up to the hour of going to press.They very clearly indicate the choice of the whole fusion State ticket by considerable ma jorities, and of three of the four fusion candidates for Congress, viz,: Messrs. Howard, Waldron and Walbridge. The chances, we think, are in favor of the success of Mr. Peck in the Fourth District. The returns from the senatorial district