17214. Commercial Bank (Cincinnati, OH)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
June 1, 1837*
Location
Cincinnati, Ohio (39.103, -84.515)

Metadata

Model
gpt-5-mini
Short Digest
3799cfed

Response Measures

None

Description

Articles state the Commercial Bank of Cincinnati suspended specie payments in 1837. No mention of a depositor run; later (1843) the bank is party to suit, implying it continued to exist after suspension. Cause attributed to the 1837 suspension (likely the Panic of 1837), so classified as suspension with eventual continuation/reopening. Dates approximated from article publication.

Events (1)
1. June 1, 1837* Suspension
Cause
Macro News
Cause Details
Suspension of specie payments in 1837 amid the wider financial disturbances of 1837 (Panic of 1837 context). Article reports a depositor who intended to bring specie to deposit found the bank had suspended specie payments; no bank run described.
Newspaper Excerpt
finding the Bank had suspended specie payments
Source
newspapers

Newspaper Articles (2)
1. June 17, 1837 Maumee Express Maumee City, Maumee, OH
Article from Maumee Express, June 17, 1837

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Article Text

SPECIE IN THE WESt.-The Dayton (Ohio) Journal of May 23, says-" Gen. BLACKBURN, the receiver of the Lima Land Office passed through this place last Thursday on his way to Cincinnati to deposit about $25'000 in gold and silver in the Commercial Bank. On his arrival there finding the Bank had suspended specie payments he bronght the dol lars back again," and deposited them in the Dayton Bank, which continues to redeem its notes with specie. The receiver of the Fort Wayne office was here on Saturday with about $10, 000 of 'hard stuff,' destined for the Lawrenceburg and Richmond branches of the Indiana ctate Bank. FORTY TWO STEAMBOATS are now actively employed on Lake Erie; and six others are being built.

2. May 20, 1843 Independent Democrat Canton, MS
Article from Independent Democrat, May 20, 1843

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Article Text

In a suit recently tried before the Supe rior Court of Ohio, a verdict was rendered against the Commercial Bank of Cincinnati, requiring that Institution to pay to Eunice Buckingham, uy wards of ten thousand dollars damages and interest on $20, 000 of its notes. The charter of that Bank has the same provision of the charter of our Kentucky Banks; compelling the bank to pay interest and damages in case of refusal to redeem its notes when presented at the counter, in Gold and Silver. The Commercial Bank suspended specie payment in 1837, and this suit was brought to recover the damages provided in the charter, and the Court very properly gave a verdict for the damages claimed. Here in Kentucky, on the contrary, the Courts refuse to make the banks pay as required, and the decision of our Appelate Court in the case of Norton VS. the Northern Bank, astonished every body and convinced the holders of notes that the provisions of their charters could not be enforced in Kentucky. Subsequently the Legislature stepped in and without any justification whatever, released the banks from the liability imposed by their charters. The truth is, in Kentucky the banks govern everything and do precisely as they please.-Kentucky Yeoman.