Article Text
The Ohio Life and Trust Company of Cincinnati, have rasumed the payment of specie. The Gazette states that great confidence is entertained in the ability of the institution to meet its claims, and no runs had been made upon it.
17274. Ohio Life and Trust Company (Cincinnati, OH)
Bank Information
- Episode Type
- Suspension → Reopening
- Bank Type
- private
- Start Date
- July 4, 1837
- Location
- Cincinnati, Ohio (39.103, -84.515)
Metadata
- Model
- gpt-5-mini
- Short Digest
c47ea671
Response Measures
None
Description
Contemporary papers (Jul 4, 1837) report the Ohio Life and Trust Company has resumed the payment of specie, implying it had suspended specie payments during the 1837 crisis. Both articles explicitly state no runs had been made upon the bank. I infer the suspension was part of the broader 1837 financial crisis (macro news), though the articles do not give a specific suspension date.
Events (2)
1.
July 4, 1837
Reopening
- Newspaper Excerpt
- The Ohio Life and Trust Company of Cincinnati, have rasumed the payment of specie. The Gazette states that great confidence is entertained in the ability of the institution to meet its claims, and no runs had been made upon it.
- Source
- newspapers
2.
*
Suspension
- Cause
- Macro News
- Cause Details
- Suspension of specie payments during the financial crisis of 1837 (implied by reports of resumption and surrounding commentary on the crisis).
- Newspaper Excerpt
- no runs had been made upon it
- Source
- newspapers
Newspaper Articles (2)
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Article Text
FRANCE. Our correspondent writes, under date of Balbec, 15th May, 1837-"The situation of our country is quite sad. Commercial affairs are languishing, and no one knows how long this crisis will last. Political circumstances present a rather more favorable aspect. Louis Philip has published a pardon for all persons politically condemned. Even in the case of Meunier himself, who fired a pistol at the King in the month of December last, the sentence of death pronounced against him has been commuted into ten years of banishment. The newspapers announce that he has chosen New Orleans for the place of his residence. So that you will soon have in the United States a man who has attempted the attrocious crime of regicide, and he will be among the republicans of America, a living monument of the generous clemency of Louis Philip." -N. Y. Observer. STATISTICS OF CROWS. The Connecticut Legislature have been obliged to repeal the law giving a bounty of 10 cents each for crow's heads, the charge upon the Treasury being too heavy to be borne. Since the passage of the law, 26,000 heads have been brought in: about 10,000 of them within the last year. It is calculated that the whole 26,000 would make 40 cartloads. A correspondent of the Bridgeport Farmer, write, that in the neighborhood of Greenwhich, Conn. crows "are said to have been so numerous at times, as to obscure the sun for hours, like a dark heavy cloud, when on their fight from one point to another." TEXAN AGGRESSION. A letter published in the Arkansas Gazette says: "I saw on yesterday a copy of the law of the republic of Texas, establishing a General Land Office for that republic, and providing for the mode of locating, land warrants, &c. By that law a land district is established including all that section of the country lying between main Red river and the Sulphur fork, called the Red river land district, and a land office established at the house of Geo. Wright near Jonesborough, in Miller county," [Arkansas-not Texas.] TRAFFIC IN SLAVES. The Legislature of the State of Mississippi have passed a law prohibiting the introduction of slaves into the State, for sale or hire. The penalty is a five of five hundred dollars, and imprisonment from one to six months, for each slave imported. All contracts for purchase or hire are declared void. The law passed on the 11th day of May, and took effect from its passage. Cin. Gaz. "THE EXPERIMENT." From the Pittsburgh Advocate of Wednesday: The loss of the people by the "Experiment," is computed in the Frederick [Md.] Herald at twenty millions of dollars!!!! Can the loss be computed in dollars and cents? No. Neither would the repentance of years of those who were instrumental in bringing the "Experiment" to test, be sufficient to atone for the wretchedness brought upon the land. HICKORY LEAVES. A Reading correspondent of Poulson's Advertiser, speaks of the worthlessness of small notes put in circulation by individuals in Berks county, and says that the Germans, whose eyes are last opening to the humbugs which have been playing off upon them, designate by the appropriate title of "Hickory leaves." One of Gen. Jackson's favorite sayings, formerly, was "Judge the tree by its fruits." The time has arrived to apply the rule. What are the fruits of the Old Hickory tree Rotten leaves for the people-nuts for the office holders, alone. Delaware State Journal. A bill for the relief of the banks, authorising the suspension of specie payments to March 1, 1838, has passed the House of Delegates of Virginia, 88 to 18. The Cincinnati papers mention that the Ohio Life and Trust Company, of that city has resumed specie payments.