Merchants National Bank - Cincinnati, OH

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 844
Charter Number: 844
Start Date: February 6, 1888
Location: Cincinnati, Ohio (39.103, -84.515)

Metadata

Model: gpt-5-mini
Short Digest: 95f99564

Response Measures

None

Description

Article (Feb 6, 1888) reports Merchants' National Bank directors passed a resolution to suspend and that the bank is in the hands of the Government. No reopening is mentioned. The reported cause relates to adverse bank-specific information (vice-president's alleged speculation/arrest and mortgages filed). Although the article describes depositors lined up earlier, that run appears connected to the Metropolitan Bank earlier in the story; the explicit suspension applies to Merchants' National. OCR corrected minor punctuation in the bank's name (Merchant's -> Merchants').

Events (2)

1. February 6, 1888 Receivership

Newspaper Excerpt: The bank is now in the hands of the Government.
Source: newspapers

2. February 6, 1888 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Vice-President J. R. DeCamp alleged to have speculated heavily in real estate; mortgages filed and DeCamp arrested; bank directors resolved to suspend and bank placed in the hands of the Government.
Newspaper Excerpt: 10:10 P. M.-The Merchant's National Bank directors passed a resolution after 8 o'clock to-night to suspend. The bank is now in the hands of the Government. Vice-President J. R. DeCamp has been arrested.
Source: newspapers

Newspaper Articles (1)

1. February 7, 1888 The Palatka Daily News Palatka, FL

Article from The Palatka Daily News, February 7, 1888

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Article Text

CINCINNATI BANK IN TROUBLE. The Metropolitan Directors in Session-The VicePresident Resigns-Bank Suspends. CINCINNATI, February 6.-The Metropolitan Bank directors held a session this morning at 10 o'clock. Pending the meeting the payment of checks was suspended and a long line of depositors gathered, reaching from the payer's desk to the street. In a very few minutes, however, the payment of checks began, and at this writing, 11:10, the line is much decreased. The directors are still in session and what is transacted is not known, except that Vice-President Decamp's resignation has been accepted and Louis Krohn has been chosen in his place. Bank Examiner Sanders is at the bank, but says he is too busy to say anything for the benefit of the public. There was more than the usual demand upon the Metropolitan Bank all day, but at the clearing house it was only $10,000 behind. While bankers agree that the Metropolitan Bank is solvent, they recognized the fact that it could not meet every possible demand in a day, so eight of the banks loaned it $25,000 each. Other offers were denied. The objection made to DeCamp, the retiring vice-president, was that he had been speculating too much in real estate. At To'edo to-day . two mortgages on his Toledo property were filed, of $10.000 each, by John R. DeCamp, and by DeCamp & Means to the Merchants' National Bank of Cincinnati. 10:10 P. M.-The Merchant's National Bank directors passed a resolution after 8 o'clock to-night to suspend. The bank is now in the hands of the Government. Vice-President J. R. DeCamp has been arrested.