National Bank of Commerce

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 13
Charter Number: 2662
Start Date: May 27, 1893
Location: Cleveland, Ohio (41.499, -81.695)

Metadata

Model: gpt-5-mini
Short Digest: 20474aa6

Response Measures

No run

Other: Article discusses the failure of Charles Foster and its potential effects on Cleveland firms and a correspondent relationship with the National Bank of Commerce, Cleveland, but does not describe any actual run or suspension of the bank.

Description

Article (Evening Star, 1893-05-27) describes public shock from Charles Foster's business failures and reports of runs/excitement in Cleveland tied to those failures. There is no clear statement that the National Bank of Commerce suspended payments or was placed in receivership — only that depositors are alarmed and runs/excitement are reported. OCR errors in the article were corrected for readability.

Events (1)

1. May 27, 1893 Run

Cause: Bank Specific Adverse Info
Cause Details: Public shock over Charles Foster's failure and related industrial/company insolvencies produced alarm about local financial connections and led to runs/excitement in Cleveland.
Newspaper Excerpt: The National Bank of Commerce, of Cleveland, ... Excitement Cleveland runs ... many ... losers in the failure.
Source: newspapers

Newspaper Articles (1)

1. May 27, 1893 Evening Star Washington, DC

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Article Text

MR. FOSTER'S STATEMENT. of Ex the The Secretary Explains Treasury of the His Failure. Circumstances to been has The given following statement the of by Ohio: Foster public ex-Secretary and the deep distress Words cannot express I I all If the bear feel. could humiliation feel will that entail my burden I should failure to It of no is look sense relief. consolation a of life over back years, business forty-five of has for mea which configained position I has that been know Gence rarely achieved. I to of that have aided mainpeople hundreds a to and comgain honorable standing of degree wealth. that now know injured I But hope petence, tain an and some I a have large by my none failure are to be Washington many people. When I returned for from the window works com- glass large- I that my the braes large, in have to knew ruined. companies and indorsements that and iron would prerailed fact, as panies to induce were me very to fear I, however. amount could of suspend at friend that time. to give confident me a large that I out all upon and a then felt and finally more come than I then the help, maintain myself concerns owed misfortunes. ComThese to my Power supposed. right. and, Fostoria to add Light and stockholder and affairs pany, of of which proved the I to am infortunate be a in large bad shape financial that financially. I condi- owed Then indorser, of came the country. the and Every no one one would in lend. cash Pay- were tion money of being standwanted ments in for his paper. glass instead Sales. seeking in fact. every come possible to am a means comto tide over I did not take the of still. made I struggled, resign. the situation, It will give until up the struggle assignee my time to I include till pelled today-May to affairs make 26. up the schedule Calcined Foster & Com- Co., the affairs. some In my Mambourg iron and works and the Crocker, and Company. affairs assets be panies, Fostoria the Light see plainly brass and Power that in compelling settling my my will thus sacrifices reduced to I cannot full. be being so. be paid in to through I can This the courts, cash. will large give connected encourage- The are made. ment that concerns my debts with which except I am possibly $80.000. Davis and & other sound basis, surplus of doubtto pay in to the recover. Foster. ought all on a They have full. a My interests failure speedily of must the city, a cause A shock sure, it will are all in and less which, I am concerns the two banks sound especially strong. from I believe our healthy business condition. and with them when Depositors i sold my two blocks need not feel of land to money, and are and arranged tour parcels for any large alarm. my sum stock of Mr. in Harkness company. Cunningham have re- I over to him and barrel who turned stave women Co. and the mortgages to two money, it being to me they to say about all only just downfall. lied have upon given the property to invest their to have, myself amounting One that was @4.000. two things It business, have is caused occasioned my to an by overzealous mV devotion that deof the other not know sire to build up life I ought my fortunes neglect to politics. and Fostoria. repair do to indulge in and the the at my time being of able to shall try, and it will hour be of pay end for I only crave that will be unspeakable one hope my of debts, which distress. the but public- I I shall financial live. public In downfall the this generous of re- of a deeply shocked enjoyed over the their aggregate confidence amount to a inliabilities. debts, the three companies. the light dividual markable the man who has degree. including works The bank glass deposits, companies. 600,000. my The and the brass and iron will be about cover the liabiliand the company, will more than the school fund power assets ties. Mr. on building paper Wilkison and has secured loan association funds against loss. CHAS. FOSTER. CLEVELAND. Cleveland, The National Bank of Commerce, of the brought Fostoria out inhas been the correspondent at the latter bank did litstitution. Inquiry that the Fostoria an open ac- of which the business information in Cleveland. Bank It had of Commerce, numbers. bank count tle it at owes the only National officials $2,000 in consider round perfectly which in the the final round banks up. resulted time in past inforat that for some been seeking to Company at Cleveland, degood mation Inquiry Banking the various effect has invariably but the 80 to had been at Fostoria as could be of the trouble fact that far borrow Fostoria considerable cause learned sums be the Fos- Mr. is said nied. by The local the financiers backbone to of bothered numerous by and the Forter industries, was which. being back upon him toria pinch, have failen than he could stand. assignment pushed late him harder from Tiffin, where seems the to have been and A dispatch filed. says a pointer Harter Mining the Company morning the given was to the Isaac for at attachment 2 olclock in for $3,200 went and O. T. Brown. secured an Sheriff Burman sufficient latter for $1,200, and levied on former to the Fostoria at once and claims. Excitement Cleveland runs will goods to secure it is said their that many in high be losers and in the failure.