17246. Lafayette Bank (Cincinnati, OH)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 8, 1842
Location
Cincinnati, Ohio (39.103, -84.515)

Metadata

Model
gpt-5-mini
Short Digest
c93cae0e

Response Measures

None

Description

Article (New-York Tribune, 1842-02-28) states a receiver will be appointed for Lafayette Bank and describes arrangements to pay deposits and circulation by June 1; no run is mentioned. This indicates a suspension with receiver and ultimate closure/settlement rather than a run-driven event.

Events (1)

1. March 8, 1842 Suspension
Cause
Voluntary Liquidation
Cause Details
Bank is arranging for a receiver to be appointed and to pay off deposits and circulation by June 1; appears to be an orderly winding up/receivership rather than a depositor run or government closure.
Newspaper Excerpt
A Receiver will be appointed on the second Tuesday in March. It is supposed that Mr. Robinson, the President, will be appointed, in which case there is reason to believe that the deposites and circulation will be paid off by the 1st June next.
Source
newspapers

Newspaper Articles (2)

Article from New-York Tribune, February 28, 1842

Click image to open full size in new tab

Article Text

The Lajayette Bank is authorized to receive its notes for any debts due it. A Receiver will be appointed on the second Tuesday in March. It is supposed that Mr. Robinson, the President, will be appointed, in which case there is reason to believe that the deposites and circulation will be paid off by the 1st June next. It is the opinion of those well informed on the subject, yet disinterested, that the stockholders will eventually receive about 33j per cent. Twenty-two of the Ohio Banks have resolved to resume on the 4th March next, as required by the act. The Commercial Bank of Scioto was one. The Franklin Bank of Columbus did not agree. Its bills are thrown out by the Cincinnati Banks. The charter of the Urbana Bank has been repealed. The Lancaster Bank is paying its notes, one-fourth in specie and three-fourths in certificates, currency or drafts. The following are the Banks which have resolved to resuine on the 4th of March The Franklin, Lafayette and Commercial Banks of Cincinnati; Banks of Dayton, Xenia, Scioto, Circleville, Marietta, Muskingum, Zanesville, Massillon, Sandusky, Wooster, St. Clairsville, Norwalk, Geauga, Western Reserve. New Lisbon, Mount Pleasant, Clinton of Columbus, and Farmers' and Mechanics' of Stenhensille


Article from The Evening Telegraph, June 18, 1869

Click image to open full size in new tab

Article Text

Reminiscences of Prof. Mitchel. contriof Wabash College, following inMitchel:butes teresting President to the reminiscences Tuttle, Cincinnati Gazette of Professor the O. M. PUTTING DOWN A MOB. Prodate of an incident connected for want of with a newsfessor The Mitchel I cannot state it to have been Cineinnati In the paper file, but suppose 3, when the city of times. As a was winter almost of 1842 bankrupted by I recollect the hard the fact street that specimen of the season, wholesale firm on Pearl several two members of a Indiana and Illinois travelled over endeavor to weeks in of notes, amounting to six weeks portion the dollars. In collect one hundred dollars some the and fifty collected thousand only nine 1843. hundred About that time two men was in the spring of the great bank mob of It was a fearful children, Cincinnati. This as supposed, occurred even sight to see engaged mad- that dened men, women, and Several banks The in the work of destruction. and failed were gutted. losers by had been 'run on were said to be great work. and were banks on Main, remember, thus broken As these German failures, people several furious in their Banks open beI now Third and Fourth, were and Lafayette and to be attacked The whole expected tween robbed. The Franklin to resist. and were said scene there to be thoroughly prepared to financiers, that and to the was most disgraceful for the mob, should be any occasion it should be possible do authorities few hundred of the city, men, that in open daylight, to for a there done that day. was engaged in the It was destruction that my and which work what was while the mob attention com- was was of noise up the street, of a directed to explained a by the appearance lead of Professor suddenly soldiers under the and at a rapid pany of With fixed bayonets track through the Mitchel. pace the which soldiers at first cleared scattered, a Mitchel and wheeled then closed his mob, as quickly as ever. back again. My impres- fire, up company is that and this walked time he ordered cartridges. his men By to this they finding the place day looked as sion time which the mob, did with professor blank that and business little too as warm, fled. The lion, but, as I thought, work a brave as a Certainly he he did afterwards his did in bellion. his thoroughly pompous. celebrated and raid rapidly into as the very heart of reMITCHEL'S OBSERVATORY. Mitchel developed his plan of When an Professor observatory and buying by securing a telescope, subthe expenses stock were at twenty-five taught a his full and the wonderful man personally scriptions building of day and then to be actually met This dollars solicited was in share, sub- the scriptions time each from before the the citizens. close of the hundred summer shares, term spring, and had secured three and he in June once he the society was organized, the instrument, to hear and at to Europe to purchase fall it was my good hall forthe sent Some time during the the Professor in story the of same his adrelate tune to a great that audience journey. It what was egotistic he had ventures during for he was relating and he did it most himself of necessity, done and experienced; away from Cincinnati In June four eloquently. and in He Europe was a hundred and in September days. he months, his classes, them the first day. resumed he examined the instruction he of had visited England, EngIn France, that and short Germany, period at and least then two returned weeks to in the satisfied Greenwich land, observatory where at he Greenwich. spent by conference with Airy, as he and Professor Having such of object himself glass Observatory, to needed Paris, that to there was in England, no he passed result over there. He sight- then be had came to the same entirely ignoring all straight started soon for Germany. him an inch out of excited the the seeing, if it took His course Here closed wonder line he was of some. following. and the anger he of was others. after, and, he called at Munich, he found the bargain, what started back, on Pro- post gress having for England. Observatory Again to report methods protelescope. was haste, fessor and Airy consult at the him as to the The best Englishman of of motions mounting evidently the disgusted at who the rapid had 'done with up" American Munich, brother, France To and get Germany, clear of the unbecoming haste. as he regarded down such Paris his and fellow, would go Mitchel, he to superficial him if he there see a Cambridge very gruffly mounted Observatory told by himself he mention. would and embodying improvement of the Englishman first he reThe to the American, this was to risk his every telescope suggestion he it, could but and at few was weeks very solved unpleasant not greatly to follow coveted chance With of a character he only the and Greenwich Observatory. he left Professor the Airy, railway in istic promptness, cab and as drove rapidly time to for the train called for reaching a there just place in he sprang found into that a station, Cambridge. At this Observatory, but the night. cab to and drove to the locked in it for an interview director was at once SO well the Professor's succeeded in spend its with Professor Mitchel she already herself wife, and sought stranger to pleaded getting his her case husband that to him allow in the the Observatory. were explained Here the night with of the telescope miultitude of obserthe mountings studied minutely, recorded. and a Professor that Mitchel night's and vations made and the notes of he was in the showed his audience, At daylight time Professor work at Cambridge. London, and about the table Mitchel first was train for leaving his breakfast The Englishman's Airy was at his door. concluded not to take Oh,_ my ringing salute advice was, about "So going you said to Cambridge Mitchell, "I have "You taken do sir, by no means, down there already on me, do you? it, not and mean been to incredulous impose that reply, Airy. story "and "I tell if you you done will the asked simple the fact, will was convince the you that I have just allow what me, you I advised.