Ohio Life Insurance & Trust Company

Bank Information

Episode Type: Run Only
Bank Type: trust company
Start Date: March 7, 1819
Location: Cincinnati, Ohio (39.103, -84.515)

Metadata

Model: gpt-5-mini
Short Digest: 961da47b

Response Measures

Accommodated withdrawals

Description

Article is a Cincinnati correspondence dated March 7, 1819 (printed 1842 paper). It describes banks paying specie and being prepared during a run; Lafayette Bank is listed among four principal banks. No suspension, closure, or reopening mentioned. Date taken from correspondence dateline (1819-03-07).

Events (1)

1. March 7, 1819 Run

Cause: Macro News
Cause Details: Wider commercial distress and failures (news from New Orleans of commission house failures) and general depression in money markets leading to withdrawals.
Measures: Banks paying specie; coordinating assistance among principal banks to protect against calls.
Newspaper Excerpt: Our Banks have been paying specie since Wednesday last, and so far as we have been able to judge, we suppose the run upon them, (except the first one or two days) has not been very great. The fact is, that the four principal Banks in this city, Franklin, Commercial, Lafayette, and Ohio Life Insurance and Trust Co. are well prepared for such an emergency at the present...
Source: newspapers

Newspaper Articles (1)

1. March 12, 1842 Richmond Palladium Richmond, IN

Article from Richmond Palladium, March 12, 1842

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Article Text

Correspondence of the Palladium. CINCINNATI, March 7th, 1819. It would be somewhat difficult to give a true picture of the state of affaire. as they now exist in the city. Business is almost entirely paralysed, in consequence of the great depression and uncertainty in money matters. Our Banks have been paying specie since Wednesday last, and so far as we have been able to judge, we suppose the run upon them, (except the first one or two days) has not been very great. The fact is, that the four principal Banks in this city, Franklin, Commercial, Lafayette. and Ohio Life Insurance and Trust Co. are well prepared for such an einer gency at the present: the latter having long since called in all its circulation, and the other three having comparatively but small amounts out, and acting in perfect unison, they are endbled to assist and protect ea.h other against any sudden or alarming call. The latest advices from New Orleans, are of the most gloomy charaeter:--many of the most important, and heretofore wealthy, Commission Houses have failed, and 11 IS presumed that oth ers of equal importance must go by the board Some four or five of the Banks in that city have closed their doors, and the whole city is 10 perfect chaos. la regard to OUR produce market, we can only repeat the monetonous sound of no sales. Holders are firm at the following nominal rates. Pork mess. $5 73 a 6 87; clear, $8 a 8 25; prime. 85; bulk, 2 a 21 ets.; bacon hog round, 3 a 31 CIS. Flour, City mills. $1 75; canal, $1 50 a 4 62, and declining. Whiskey 1-1 C13.