17204. Citizens' Bank (Cincinnati, OH)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
private
Start Date
October 19, 1854
Location
Cincinnati, Ohio (39.103, -84.515)

Metadata

Model
gpt-5-mini
Short Digest
87cbf5dd

Response Measures

Accommodated withdrawals, Full suspension

Description

Contemporary reports show an initial run on Oct 19, 1854 in which the bank paid demands; a heavier run on Nov 8, 1854 led the Citizens' Bank to stop payment (temporary suspension). Subsequent dispatches indicate the bank was only temporarily closed, confidence/operations recovered (reports of it being all right and reduced liabilities later in November and reimbursements mentioned in mid‑1855). Cause tied to distress/suspensions of local banking houses (Ellis & Sturges, Outcall & Co., etc.).

Events (4)

1. October 19, 1854 Run
Cause
Local Banks
Cause Details
Run tied to failures/distress among local private bankers (Outcall & Co., Ellis & Sturges) that triggered deposit withdrawals from Citizens' Bank.
Measures
Paid every demand; reported well fortified against further demands.
Newspaper Excerpt
The run to-day was confined to the banking houses of Messrs. Ellis & Sturges, the Citizens' Bank and the Central Bank. They paid every demand made upon them, and are well fortified against further demands.
Source
newspapers
2. November 8, 1854 Suspension
Cause
Local Banks
Cause Details
Heavy run precipitated by suspensions/failures of local houses (Ellis & Sturges, others) and related panic; Citizens' Bank ceased payments (temporary suspension).
Newspaper Excerpt
There is a heavy run on Messrs. T. S. Goodman & Co., and on the Citizens' Bank, causing an immense excitement. The latter firm stopped payment.
Source
newspapers
3. November 11, 1854 Other
Newspaper Excerpt
The Citizens' Bank is all right:-only run on a 10:, and hopes to float soon, Ellis & Sturges say they can pay all.
Source
newspapers
4. November 25, 1854 Reopening
Newspaper Excerpt
The Citizens' Bank, of Messrs. Smead, Collard & Hughes, have received checks on themselves in payment of notes, and thus their liabilities are becoming rapidly reduced.
Source
newspapers

Newspaper Articles (18)

Article from Evening Star, October 20, 1854

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More Bank Failures, do. CINCIANATI, Oct. 19-Messrs Outcall & Co., private bankers, failed to-day. There had been no run on them. The run to-day was confined to the banking houses of Messrs. Ellis & Sturges, the Citizens' Bank and the Central Bank, all private banking establishments. They paid every demand, and towards the close the excitement began to subside. No further failures are apprehendod.


Article from Evening Star, October 20, 1854

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TELEGRAPHIC. Expressly for the Daily Evening Star. LATER FROM HAVANA. The Betrayer of Lopez Assassinated-The Seldiery attacked by the Populace, &c. NEW ORLEANS, Oct. 29.-The Black Warrior has arrived here from Havana, which place she left on the 15th. Castenado, the betrayer of Lopes, was assassinated on the 12th, while playing billiards at a coffee house. There were no followers at the funeral except the Guards, which were attacked by the populace, when a general conflict ensued and several persons were killed and wounded. Arrival of the Africa. New YORK, Oct. 20.-The steamer Africa is now below Sandy Hook, with later news from Europe She will not reach her wharf until 41 o'clock this afternoon. Messrs. McClelland and Campbell BOSTON, Oct. 20.-Secretary McClelland and Postmaster General Campbell, are visiting Lowell to-day, accompanied by the U.S. Marshal and Postmaster Brady. Baltimore Narkets-Fire, &c. BALTIMORE, Oct. 20.-Howard street flour is held to-day at $8. 5,000 bushels of wheat, and 9,000 bushels of corn sold at yesterday's prices. The fire in old town continues burning, with the probability of a heavy loss from it. Philadelphia Markets, do. PHILADELPHIA, Oct. 20.-Our markets today exhibit no change of interest to your readers. We have news of the death of Wm. H. H. McKee, editor of the St. Louis Democrat. New York Markets. NEW YORK, Oct. 20.-Our grain market is unchanged; flour, wheat, and corn, bearing the prices ruling yesterday; 4,000 bbls. flour sold to-day. Cotton is firm. Stocks are dull of sale and depressed. Counterfeiters Arrested. LOUISVILLE, Ky., Oct. 20.-We have advices here of the arrest of two counterfeiters at La Grange, Indiana, with $42,000 of New Haven City Bank notes in their possession. Robbery WILMINGTON, Del., Oct. 20.-Last night the office of Adams & Co.'s Express, in this city, was robber of over $2,000. A Wreck. HALIFAX, Oct. 20.-The brig Reindeer, of New York, has been wrecked here. Vermont Senatorial Election. BOSTON, Oct. 19.-Mr. Collamer's majority for the U.S. Senate for the full term is 10 in the Senate and 14 in the House. The free-soil vote was cast for Mr. Shafer. Congressional Nomination. BOSTON, October 19.-The Democrats of the Eighth district, in this State, have nominated Daniel Needham, of Groton, for Congress. Bank Defalcation. NEW YORK, Oct. 19-A letter from the cashier of the Ocean Bank indignantly denies the rumored defalcation of the first teller to the amount of $150,000, and says that his defalcation will not exceed $75,000. He further adds that there will be no interruption in the business of the bank. Know Nothingism in Massachusetts. BOSTON, Oct. 19.-The Know Nothing State Convention assembled here yesterday, there being 2,000 delegates present. Their session was secret, but it is said to have been very stormy. It is rumored that they have nominated for Governor Henry J. Gardiner, a merchant of Boston, and for Lieut. Governor Simeon Brown, of Concord. More Bank Failures, &c CINCIANATI, Oct. 19 -Messrs Outcall & Co., private bankers, failed to-day. There had been no run on them. The run to day was confined to the banking houses of Messrs. Ellis & Sturges, the Citizens' Bank and the Central Bank, all private banking establishments. They paid every demand, and towards the close the excitement began to subside. No further failures are apprehendod. Woman's Rights Convention. PHILADELPHIA, October 19.-The Woman's Rights Convention is progressing very satisfactorily Addresses were made last night by Mrs. Gage, Rev. J. W. Higginson, Mrs. Coe, and Mrs. Rose. This morning plans have been presented from tracts and petitions, and a proposal for a newspaper organ was rejected, after a discussion by Lucy Stone, Miss Anthony, Lucretia Mott, Miss Cox, Messrs. Garrison, Higginson, and others. A Duel on the Elysian Fields at Hoboken. NEW YORK, Cct. 19 -A duel was fought on the Elysian Fields at Hoboken this morning, where Hamilton and Burr fought, between Peter Thomson, of South Carolina, and & Mr. Nerte of this Efteen


Article from New-York Daily Tribune, October 20, 1854

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RUN ON THE THE BANKS AND BANKERS OF CINCINNATI. CINCINNATI, Thursday, Oct. 19, 1854. Messrs. Outcall & Co., private bankers, failed today. There had been no run upon them. The run to-day was confined to Messrs. Ellis & Sturges, private bankers, the Citizens' Bank and the Central Bank. They paid every demand made upon them, and are well fortified against further demands. Toward the close of the day the excitement began to subside and no further failures are apprehended.


Article from The New York Herald, October 20, 1854

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NEWS BY TELEGRAPH, The Financial Orisis. BUN ON THE BANKS AND BANKERS IN CINCINNATI. CINCINNATI, Oct 19, 1864. Messrs. Outcall & Co, private bankers, faled to-day. There had been no run upon them. The run to day was confined to Messrs. Fills & Sturges. private bankers 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 Richmond Daily Whig, October 21, 1854

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POSTSCRIPT. FIRE AT LOUISVILLE-BANK FAILURES, &c. LOUISVILLE, Oct. 18.-A fire occurred here last a ght, which originated to the extensive bock store of H. v. Morton, on Maiue street, near Third. The Names conmunicated to the tin store of Messrs. McDermott, Clifford & Co., and to the queensware store of Messre. Cassidy & Hopkins, which were slightly damaged. All of Mr. Morton's stock was destroyed, but Measrs. McDermott & Co., saved a small portion of their goods. The loss is estimated at $45,000, mostly covered by insurance. Major J. L. Marisio, one of the oldest and wealthiest citizens of Louisville, died yesterday. The Bonnersville Bank suspended payment to-day. THE OHIO STATE fair. NEWARK, Ohio, Oct. 18.-The State Fair is DOW in full blast, and the admissions have been very large. About made. 6,000 badges have been sold to-day, and some new entries The horses of Ohio are much finer than is usually supposed. The stallions of various breeds are as handsome as can be found in Vermont. Sixteen roadsters are DOW trouing in the ring, which L one third of a mile in circumference, to the great delight of some 5000 people. SEIZURE OF A SUSPECTED SLAVER. NEW YORK, Oct. 19.-The brig Sierra Leone cleared on Wednesday for the Coast of Africa, and the United States Marshal having reason to suspect that she was intended for a slaver seized her to-day. The examination will take place to-morrow. DECLINES THE NOMINATION. BOSTON, Oct. 19.-General Wilson declines the Know Nothing nomination for Governor of Marsachusetts. It is stead. supposed that Gardiner Brown will be nominated in his VERMONT SENATORIAL ELECTION. BOSTON, Oct. 19th.Mr. Collemer's majority for the U. S. Senate for the full term is 10 in the Senate and 14 in the House. The free soil vote was cast for Mr. Shafter. LARGE bank DEFALCATION. NEW YORK, Oct. 19.-A letter from the cashier of the Ocean Bank indignantly denies the rumored defalcation of the first teller to the amount of $150,000, and says that his delalcation will not exceed $75,000. He futher adds bank. that there will be no interruption in the business of the MORE BANK FAILURES, &c. CINCINNATI, Oct. 19.-Messra. Outcall & Co., private bankers, failed to-day. There had been no run on them. The run to-day was confined to the banking houses of Messrs. Ellis & Sturges, the Citizens' Bank and the Central Bank, all private banking establishments. They paid every demand, and towards the close the excitement began to subside. No further failures are apprehended. arrival OF THE GOV. DUDLEY-LATER FROM havana. CHARLESTON, Oct. 19.-The steamer Gov. Dudley has arrived, with later advices from Havana. All was quiet on the island, and good health prevailed. Sugars were firm. Stock light. Molasses firm. Freights dull and vessela plenty. CONVICTED. BRANTFORD, Canada, Oct. 18.-Van Hærnum who was extradized from New York, on a charge of forgery, has been convicted. LAUNCHED. NEW YORK, Oct. 19.-The steamer Yankee, intended for the China trade, was launched this morning from the yard at Green Point. SALE OF A VESSEL. NEW YORK, Oct. 19.-The Russian barque Sina, built at Warsaw, in 1851, was suld at auction to day, by the United States Marshal, for 9,600.


Article from Evening Star, November 9, 1854

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Monetary Excitement in Cincinnati. CINCINNATI, Nov. 8.-Messrs. Ellis s Sturged, bankers, suspended this morning. They say their assets exceed their liabilities $400,000. There is a heavy run on Messrs. T. S. Goodman & Co., and on the Citizens' Bank, causing an immense exsitement. The latter firm stopped payment. The excitement in Third street, in regard to the suspensions, continued all the afternoon. John R Morton & Co also closed their banking establishment after dinner, adding not a little to the excitement. All the suspended houses report an excess of assets. There was a run on Messrs. Hatch & Langdon, but they continued to pay up to the close of bank hours. There was no run on any other houses than those mentioned. Mr. Ellis, of the firm of Ellis & Stringer, is very sick of congestion of the brain.


Article from Washington Sentinel, November 9, 1854

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Monetary Excitement in Cincinnati. CINCINNATI, Nov. 8.-Messrs. Ellis & Sturges, bankers, suspended this morning. They say their assets exceed their liabilities four hundred thousand dollars. There is a heavy run on Messrs. T.S. Goodman & Co., and on the Citizens' Bank, causing an immense excitement; the latter firm stopped payment.


Article from New-York Daily Tribune, November 9, 1854

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MORE BANK FAILURES IN CINCINNATE CINCINNATI, Wednesday, Nov. 8, 1854, The banking house of Ellis & Sturgis closed this morning. They any their liabilities are $1,000,000, and assets $1,400,000. There has been & heavy run on the Citizens' Bank, and on T. S. Goodman & Co., and the excitement on thesubject is intense. SECOND DISPATCH. The Citizens' Bank has closed, and the excitement is on the increase. THIRD DISPATCH. The excitement in Third-st. has continued all the afternoon, and T. S. Goodman & Co., and John R. Morton & Co., closed their doors at an early hour. All the suspended houses report an exceess of assets. There was a run on the house of Hatch and 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 indorsed.


Article from Wheeling Daily Intelligencer, November 11, 1854

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THE CINCINNATI EXCITEMENT.-We received the following private dispatch yesterday from a friend in Cincinnati: The Citizens' Bank is all right:-only run on a 10:, and hopes to float soon, Ellis & Sturges say they can pay all.


Article from The New York Herald, November 12, 1854

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Dec. .1,859,863 Dec 2,489,965 Inc.4,318,778 Inc. 15,988 By reducing the wheat to flour, the quantity of the latter left at tide water this year, compared with the corresponding period of last year, shows a decrease of 2,134,804 bbls. of flour. The circular of N. J. O. Davis, of Cincinnati, gives the following review of the money market of that city for the week ending Wednesday evening, Nov. 8, 1854:The past week has been one of varied and intense interest in monetary cireles. The failure of some banks to redeem in coin all the presentations of their issues has given rise to many vague and uncertain rumors-confidence is undermined, and there is nothing but confusion in the general appearance of our currency. From the varied rumors we select some that have the most appearance of reliability. Some of the banks of Ohio and Kentucky had a short time ago enlarged their circulation. This, in some circles, created distrust, and a consequent run on these institutions. The Bank of Circleville has been compelled into a temporary suspension, although the cashier, H. K. Lawrence, Esq., states that there are ample means to redeem every dollar. The notes of the Clinton Bank, Columbus, are thrown out by some of the brokers. Parties connected with this bank state that it is all right. The notes of the Commercial Bank, Kentucky, are doubted by some and those of the Miami Valley Bank, of Dayton are thrown out. Much of this is undoubtedly the effect of panic, but its influence is all the same on the business community. This morning, in consequence of the serious illness of Mr. Ellis, of the firm of Ellis & Sturges, it was deemed advisable to close their banking house. A previous report of the death of Mr. Ellis had created a panic among the depositors, great numbers of whom have thronged the street during the whole day. Following the close of this house, the Citizens' Bank, owing to its intimate connection with this firm, closed temporarily. Subsequent to this, a run was commenced on T.S. Goodman & Co., and under the intense excitement of the day, they deemed it prudent to suspend operations till public opinion had time to become settled. There can be but little doubt but that the assets of each of the above houses will be amply sufficient to secure depositors. S. W. Torrey & Co. are withdrawing from bnsiness, and have left with another house the means to pay their depositors, finding banking at this present Chae too profitless and perplexing. The discount business of our banking institutions, owing to the unsettled state of everything connected with money or confidence, is reduced to almost nothing; honce, we quote very few regular transactions. Outside rates range from 1 to 3 per cent, with no. disposition on the part of lenders to touch anything but first class paper. Since our last issue, the November payments have become due, and it is a gratifying proof of the general preparation made by our merchants, that with few discounts there have been few failures, and these confined to small dealers. Sales for the week-32 shares Columbus and Xenia railroad stock, 93c.; 72 do. Ohio and Mississippi railroad stock, 47 36 do. Covington and Lexington railroad stock, hypothecated, 47; 55 do. Little Mami railroad stock, 97%; 24 do. Eaton and Hamilton railroad stock, 33%; 33 do. Cincinnati, Hamilton and Dayton railroad stock, 78; 38 do. New Albany and Salem railroad stock, 33%; 64 do Cincinnati and Chicago railroad stock, hypothecated, 14; 25 do. Marietta and Cincinnati railroad stock, 33; 20 do. Cincinnati and Indianapolis railroad stock, hypothecated, 44: 85 do. Cincinnati, Wilmingt m and Zanesville railroad stock, hypothecated, 40; 38 do. Indiana Central raiiroad stock, hypothecated, 54; 75 do. Ohio and Mississippi raïlroad stock, 47½; 90 do. Little Miami railroad stock, sold East, 97%; 85 do. Cincienati, Cleveland and Columbus railroad stock, sold East, 100%; 75 do. Cincinnati, Hamilton and Dayton railroad stock, sold East, 80½; 200 do. Indianapolis and Cincinnati railroad stock, sold East, 45; 30 do. Little Miami railroad stock, sold East, 98; 30 do. Cincincinnati, Hamilton and Dayton railroad stock, sold East, 81; $10,000 Marietta and Cincinnati bonds, sold East, 91.


Article from The New York Herald, November 12, 1854

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Dec.1,859,863 Dec 2,489,965 Inc.4,318,778 Inc. 15,988 By reducing the wheat to flour, the quantity of the latter left at tide water this year, compared with the corresponding period of last year, shows a decrease of 2,134,804 bbls. of flour. The circular of N. J. O. Davis, of Cincinnati, gives the following review of the money market of that city for the week ending Wednesday evening, Nov. 8, 1854:The past week has been one of varied and intense in. terest in monetary circles. The failure of some banks to redeem in coin all the presentations of their issues has given rise to many vague and uncertain rumors-confidence is undermined, and there is nothing but confusion in the general appearance of our currency. From the varied rumors we select some that have the most appearance of reliability. Some of the banks of Ohio and Kentucky had a short time ago enlarged their circulation. This, in some circles, created distrust, and a consequent run on these institutions. The Bank of Circleville has been compelled into a temporary suspension, although the cashier, H. K. Lawrence, Esq., states that there are ample means to redeem every dollar. The notes of the Clinton Bank, Columbus, are thrown out by some of the brokers. Parties connected with this bank state that it is all right. The notes of the Commercial Bank, Kentucky, are doubted by some. and those of the Miami Valley Bank, of Dayton are thrown out. Much of this is undoubtedly the effect of panic, but its influence is all the same on the business community. This morning, in consequence of the serious illness of Mr. Ellis, of the firm of Ellis & Sturges, it was deemed advisable to close their banking house. A previous report of the death of Mr. Ellis had created a panic among the depositors, great numbers of whom have thronged the street during the whole day. Following the close of this house, the Citizens' Bank, owing to its intimate connection with this firm, closed temporarily. Subsequent to this, a run was commenced on T. S. Goodman & Co., and under the intense excitement of the day, they deemed it prudent to suspend operations till public opinion had time to become settled. There can be but little doubt but that the assets of each of the above houses will be amply sufficient to secure depositors. S. W. Torrey & Co. are withdrawing from bnsiness, and have left with another house the means to pay their depositors, finding banking at this present time too profitless and perplexing. The discount business of our banking institutions, owing to the unsettled state of everything connected with money or confidence, is reduced to almost nothing; hence, we quote very few regular transactions. Outside rates range from 1 to 3 per cent, with no. disposition on the part of lenders to touch anything but first class paper. Since our last issue, the November payments have become due, and it is a gratifying proof of the general preparation made by our merchants, that with few discounts there have been few failures, and these confined to small dealers. Sales for the week-32 shares Columbus and Xenia railroad stock, 93c.; 72 do. Ohio and Mississippi railroad stock, 47 36 do. Covington and Lexington railroad stock, hypothecated, 47; 55 do. Little Miami railroad stock, 97%; 24 do. Eaton and Hamilton railroad stock, 33½; 33 do. Cincinnati, Hamilton and Dayton railroad stock, 78; 38 do. New Albany and Salem railroad stock, 33%; 64 do Cincinnati and Chicago railroad stock, hypothecated, 14; 25 do. Marietta and Cincinnati railroad stock, 33; 30 do. Cincinnati and Indianapolis railroad stock, hypothecated, 44: 85 do. Cincinnati, Wilmingt >17 and Zanesville railroad stock, hypothecated, 40; 38 do. Indiana Central raiiroad stock, hypothecated, 54; 75 do. Ohio and Mississippi railroad stock, 4736; 90 do. Little Miami railroad stock, sold East, 97%; 85 do. Cincionati, Cleveland and Columbus railroad stock, soil East, 100%; 75 do. Cincinnati, Hamilton and Dayton railread stock, sold East, 80½; 200 do. Indianapolis and Cincinnati railroad stock, sold East, 45; 30 do. Little Miami railroad stock, sold East, 98; 30 do. Cincincinnati, Hamilton and Dayton railroad stock, sold East, 81; $10,000 Marietta and Cincinnati bonds, sold East, 91.


Article from Demoine Courier, November 16, 1854

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More Bank Failures. CINCINNATI, Nov. 8. The Banking house of Ellie & Sturges closed this A. M. They say their liabilities are one million of dollars, and assete fourteen hundred thousand. There has been a heavy run on the Citizens' Bank. and on J. S. Goodman & Co., and the excitement on the subJeotls intense. SECOND DISPATCH. The Onizens' Bank is closed, and the excitement is on the increase.


Article from Fayetteville Observer, November 16, 1854

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RELIGION IN CALIFORNIA.-In the city of San Francisco, of which 50 many hard things have been said, there are twenty church congregations, embracing nine thonsand members. FAST.-The special train ordered by Mayor C ok to take fire companies from Buffalo to the fire at Lockport, New York, accomplished the distance to that place-twentyfour miles and a half-in the incredible short time of twenty-five minutes. The New York Herald publishes the names of all the candidates of the sixteen political parties in that State. They number over a thou sand. The accidental bursting of the cylinder head of the engine on the Great Western Railroad, occurred on the 28th October, near Chatham, Canada West,by which fifty persons were kille CINCINNATI, Nov. 8 Ellis and Sturgess closed this morning. Their liabilities are said to be $1,000,000, and their assets $1,400,000. There has been a heavy run on Goodman & Co. The Citizens' Bank has closed. There is immense excitement. Late advices from China say that an outrage of a high-handed character had been perpetrated against the to United States Government, by firing at the American Consul and wounding him severely. Other outrages 0 had been perpetruted, calling loudly for redress. y State Officers Indicted.-I grand jury of Dane county, Wisconsin, recently indicted the Secretary of la State and Attorney General for li wrongful and illegal acts, as commisv ioners of the school lands. The inti dictment is founded upon the facts A which have transpired touching the b sale of a very large body of the chool lands. The vote on finding he indictment is said to have been L inetecn to one. R es An individual recently appeared er Greenock, Scotland, named Patick Murphy, a lad of 18 years of W ge, and of the extraordinary height " f 7 feet 51 inclies in his stocking a oles. He weiglistwenty-one stone, an nd measures fifty-two inches round chest. Murphy is a native of an ounty Dowe, Ireland. or


Article from The National Era, November 16, 1854

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Monetary Excitement in Cincinnati. Cincinnati, Nov. 8.-Messrs. Ellis & Sturges, brokers, suspended this morning. They say their assets exceed their liabilities $400,000. There is a heavy run on Messrs. J.S. Goodman & Co., and on the Citizens' Bank, causing an immense excitement. The latter firm stopped payment.


Article from Bradford Reporter, November 25, 1854

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CINCNINNATI FINANCIAL TROUBLES.-We learn from the Cincinnati papers of Wednesday last, that for the two or three days previous, monetary malters in that city have assumed a more settled feel. ing. The Gazette, in speaking of the houses that suspended says : The Citizens' Bank, of Messrs. Smead, Collard & Hughes, have received checks on themselves in payment of notes, and thus their liabilities are becoming rapidly reduced. The creditors of Messrs. T.S. Goodman & Co, and Ellis & Sturges, have petitioned their assignee to resign, and permit the parties themselves to take charge of the business, thus exhibiting a degree of confidence in the integ rity and ability of the houses that will be fully ap. preciated by the latter. It is gratifying to notice confidence. these and other Land unmistakable signs of returning


Article from Grand River Times, December 13, 1854

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How IT AFFECTS THE PooR.-On the 18th of Nov. last some ludicrous scenes were enacted in Cincinnatti. Some over which we could enjoy a hearty laugh did we not consider it wicked to do so. It will be remembered on that day some of the most prominent banks of that city suspended payment, depriving thousands of the poorer classes as well as many in better circumstances. of the mea which they had been saving for years to buy them comfortable houses or pay their honest debts. It is said in one of our exchanges, that no less than 10,000 people must have visited Third street during that day, and the emotions of their hearts as they visited the several banking houses where they had, many of them, deposited their all, can better be imagined than described. Among others came a rag-gatherer, " all tattered and torn," to the doors of Ellis & Sturges, but no admittance being granted he gave way to the most violent paroxysms of grief. The bystanders supposing him hardly worth a dime, found by his account book, deposits in said bank to the amount of several hundred dollars, although last winter he had applied to the poor authorities for relief, and owing to his extreme poverty was supplied with fuel. A widow lady excited some sympathy at the Citizens' Bank. Her husband had left her a small amount of money which she had deposited for the benefit of her children. She was led to believe the bank had failed and became almost frantic under her supposed loss. She was finally persuaded that her money was safe and left better satisfied. A person known for his miserly disposition drew some hundreds of dollars out of the Central Bank. Some wags amused themselves by persuading him that the notes were not safethat rumor said the banks which issued them were about suspending; others told him some pickpockets were watching him, and he had better be on the look out. It must have been truly amusing to see him sauntering about an hour or two, with the money clutched tightly in his fists, and then again depositing it in the bank. An incident took place which truthfully illustrates thousands of similar character, lately occurring in our own and neighboring States: It was the case of a man who made his appearance at a suspended bank at the hour of noon. He wore no coat. The sleeves of his checked shirt were rolled up to the elbow, his face was covered with iron dust, and his every appearance betokened one of those hard toiling mechanics whose every cent is earned by the sweat of the brow. Approaching the door he was stopped by a policeman: " Can I not get in," said he. " No sir, the bank is closed," said he. " Closed !" he exclaimed, his heart throbbing with unutterable emotion. " Gentlemen," said he, addressing the bystanders, " this is too bad ! For twenty years I have been toiling to buy me a home, but the harder I toil the further I am from accomplishing my desire. I was swindled out of the earnings of five years hard toil by a pretended friend, and now the earnings of fifteen years of unremitting labor are lost in this exploded concern. Can a working man be protected in any way ?" Yes ! we repeat it; can a working man be protected in any way ? Must the toil of many a weary month be sacrificed by the poor man, to enrich the coffers of the speculating bankers. and then end in his own ruin ? Is there no protection for him? Must he suffer the ills of poverty, perhaps of extreme want, because, forsooth, there is no law to enable him to regain his rightful property from a company of men no better in many respects than barefaced swindiers-only that they carry on their operations under the broad protection of a State charter ? Would it not be well for our law makers to consider this subject seriously and see if some way cannot be provided to protect the poor laborer, and save from utter ruin the man who entrusts his all to an institution thus protected by law ? FRANCIS' GOVERNMENT LIFE BOATS-By the


Article from The Daily Dispatch, June 13, 1855

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SEBASTOPOL TO BE TAKEN -The alties baving failed to take Sebastopol with their armies, are de. termined to take its likeness. An English photographer has accordingly gone out with material to take it on paper. They are determined to have it somehow or other. LIBERAL -W. Smead, of Cincinnati, has offered to re-imburse, out of his own means, all the female depositors of the Citizens' Bank in that city, who during its temporary suspension, were compelled by necessity to cash their claims at a discount A PROFITABLE BUSINESS.-The amount of fines collected in the Cincianati police court during the month of May, was $1,633 63. The "Know Somethings" hold their National Covention in Cleveland, Ohio, this week. Consid. erable interest is manifested in political circles respecting the movements of this new political party. William B. Fairfield, alias Bowers, of Newbury. port, Mass, has been sentenced to the State prison for three years, for adultery-twelve days to be solitary confinement. Counterfelt 810 bills on the Northern Bank of Kentucky are in circulation. The population of the town of Owensborough, Ky., is 6,000. Eight hundred and eighty-nine dogs have been killed in St. Louis since the passage of the dog law there. Miss Eliza Logan, the young actress, is plaving an engagement at the Metropolitan theatre, Buffalo, N. Y. A ball storm paued over St. Peter's Parish, S C., on the 27th ult, which killed calves and bogsso large were the stones which fell. General Sam Houston was to bave addressed the citizens at San Jaciato, on the 9th lost. FATAL RESULT.-The duel fought on Saturday, at Roxbury, Mars.. betwean the French sailors has resulted fatally. Benisson, who was stabbed, died Monday.


Article from Nashville Union and American, June 17, 1855

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W. SMEAD, of Cincinnati, has offered to re-imburse, out of his own means, all the female depositors of the Citizens' Bank in that city, who, during its temporary suspension, were compelled by necessity to cash their claims at a discount.