17419. Reinhard & Co. (Columbus, OH)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
private
Start Date
April 1, 1900*
Location
Columbus, Ohio (39.961, -82.999)

Metadata

Model
gpt-5-mini
Short Digest
572db22a

Response Measures

Full suspension

Other: Owners filed deeds of assignment to an assignee (receiver) who qualified with bond.

Description

Multiple articles (dated Apr 10, 1900) report a month-long run caused by persistent rumors, the bank suspended at noon Apr 10, 1900, and deeds of assignment were filed to Thomas J. Abernathy (assignee). No reopening mentioned; assignment indicates permanent closure/receivership.

Events (3)
1. April 1, 1900* Run
Cause
Rumor Or Misinformation
Cause Details
Persistent rumors reflecting on the financial condition of the bank and its owners circulated for about four weeks, causing deposits to fall from $350,000 to $98,000.
Measures
Bank endeavored to realize on exchange and collaterals; ultimately filed deeds of assignment to protect depositors.
Newspaper Excerpt
There has been a steady and systematic run on the bank for a month, and on Saturday and Monday the withdrawals were very large.
Source
newspapers
2. April 10, 1900 Receivership
Newspaper Excerpt
John G. and Henry A. Reinhard filed deeds of assignment to Thomas J. Abernathy, who qualified by giving bonds aggregating $325,000.
Source
newspapers
3. April 10, 1900 Suspension
Cause
Rumor Or Misinformation
Cause Details
Inability to raise funds after persistent rumors and heavy withdrawals precipitated the suspension at noon on April 10, 1900.
Newspaper Excerpt
The bank of Reinhard & Co., founded in 1868, suspended business today. The bank was closed at noon, and about the same time John G. and Henry A. Reinhard filed deeds of assignment.
Source
newspapers

Newspaper Articles (11)
1. April 11, 1900 The Daily Morning Journal and Courier New Haven, CT
Article from The Daily Morning Journal and Courier, April 11, 1900

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Article Text

COLUMBUS, 0., BANK ASSIGNS. Reinhard & Co. Forced to Act Owing to n Run on the Institution. Columbus, O., April 10. - The bank of Reinhard & Co., founded in 1868, suspended to-day and John G. and Henry A. Reinhard filed deeds of assignment. The assignee qualified by giving bonds aggregating $325,000. John G. Reinhard, cashier of the bank, said: "The suspension was caused by persistent rumors reflecting on the financial condition of the bank and its owners. In one month's time our deposits have dwindled from $350,000 to $98,000, and there were scarcely any new deposits. There has been a steady and systematic run on the bank for a month, and on Saturday and Monday the withdrawals were very large. Our inability to raise funds precipitated the suspension and the assignments. Our depositors will be paid dollar for dollar. Our assets are at least $200,000 in excess of our combined liabilities. The assets of the bank are $182,000, and the liabilities about $140,000. My individual assets are $82,500, and my liabilities are $10,000. The assets of Henry A. Reinhard will reach $101,500, and his liabilities are $15,000." John G. Reinhard had heavy investments in the Great Southern Hotel company and was one of the promoters of the Columbus Hotel company, organized to acquire and operate the three leading hotels of the city.

2. April 11, 1900 The Age-Herald Birmingham, AL
Article from The Age-Herald, April 11, 1900

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Article Text

BIG BANK CLOSED Reinhard & Co., of Columbus Suspend Business Columbus, O., April 10.-The bank of Reinhard & Co., founded in 1868, suspended business today. The bank was closed at noon, and about the same time John G. and Henry A. Reinhard filed deeds of assignment to Thomas J. Abernathy, who qualified by giving bonds aggregating $325,000. John C. Reinhard, cashier of the bank, made the following statement: "The suspension was caused by persistent Limors which have been afloat for about four weeks reflecting on the financial condition of the bank and its owners. In one month's time our deposits have dwindled down from $350,000 to $98,000. "Our inability to raise funds precipitated the suspension and the bank and the assignments. The assignments were made to protect the interests of our depositors, who will be paid dollar for dollar. "The assests of the bank are $182,000 and the liabilities about $140,000. Ninety-eight thousand dollars of the liabilities are in deposits. "Today the bank endeavored to realize on exchange and collaterals, and finding this could not be done, and as the funds of the bank were rapidly going out, it was deemed advisable to suspend at noon." John G. Reinhard had heavy investments in the Great Southern Hotel company, and was one of the promoters of the Columbus Hotel company, organized to acquire and operate the three leading hotels of the city.

3. April 11, 1900 Wheeling Register Wheeling, WV
Article from Wheeling Register, April 11, 1900

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Article Text

PERSISTENT RUMORS Affecting the Credit of a Columbus Bank Cause it to Suspend and Its Owners to Assign. COLUMBUS, Ohio, April 10.-The bank of Reinhard & Co., founded in 1868, suspended business to-day. The bank was closed at noon and about the same time John G. and Henry A. Rinehard filed deeds of assignment to Thomas J. Abernathy, who qualified by giving bonds aggregating $325,000. John G. Rinehard, cashier of the bank, made the following statement: "The suspension was caused by persistent rumors which have been afioat for about four weeks reflecting on the financial condition of the bank and its owners. In one month's time our deposits have dwindled down from $350,000 to $98,000, and there were scarcely any new deposits. There has been a steady and systematic run on the bank for a month, and on Saturday and Monday the withdrawals were very large. "Our inability to raise funds precipitated the suspension of the bank and the assignments. The assignment was made to protect the interests of our depositors, who will be paid dollar for dollar. Our assets are at least $200,000 in excess of our combined liabilities. "The assets of the bank are $182,000 and the liabilities about $140,000. Ninety-eight thousand dollars of the liabilities are in deposits."

4. April 12, 1900 Connecticut Western News North Canaan, Salisbury, Canaan, CT
Article from Connecticut Western News, April 12, 1900

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Article Text

Ohio Bank Suspends. Columbus, O., April -The bank of Reinhard & Co., founded in 1868, has suspended business. John G. and Henry A. Reinhard have filed deeds of assignment to Thomas J. Abernathy, who qualified by giving bonds aggregating $325,000. John G. Reinhard, cashier of the bank, made the following statement: "The suspension was caused by persistent rumors which have been afloat for about-four weeks reflecting on the financial condition of the bank and its owners. In one month's time our deposits have dwindled down from $350,000 to $98,000, and there were scareely any new deposits."

5. April 18, 1900 Vernon County Censor Viroqua, WI
Article from Vernon County Censor, April 18, 1900

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Article Text

Ohio Banking Firm Fails. The bank of Reinhard & Co., founded in 1868, suspended business at Columbus, Ohio. John G. and Henry A. Reinhard filed deeds of assignment to Thomas J. Abernathy. who qualified by giving bonds aggregating $325,000.

6. April 18, 1900 Manchester Democrat Manchester, IA
Article from Manchester Democrat, April 18, 1900

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BUSINESS NOTES. Business men in the Wisconsin River valley are going to expend $5,000,000 in developing the water power in the Wisconsin River valley. The demand for cash in the Chicago market is so strong that one bank reports no new loans under 6 per cent. Reinhard & Co.'s private bank at Columbus, O., has closed its doors. A large box factory will be erected at Watertown, Wis., this spring. It will employ 200 persons. The banking house of Reinhard & Co., Columbus, O., was forced to suspend after a run of a month. The Chicago and Northwestern road has sent five large locomotives north from Green Bay, Wis., to handle the Immense ore business which the company expects to do this season. The telegraphers on the Southern railway have gone on a strike. They number 1,200. W. H. Dildine, of Sloux City, Ia., has purchased the lease of the Leland hotel at Chicago. The Burlington road is preparing plans for an extension of its line to

7. April 19, 1900 The Hocking Sentinel Logan, OH
Article from The Hocking Sentinel, April 19, 1900

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Article Text

Columbus, Ohio, Bank Goes Down. The bank of Reinhard & Co., founded in 1868, suspended business at Columbus, Ohio, John G. and Henry A. Reinhard filed deeds of assignment to Thomas J. Abernathy, who qualified by giving bonds aggregating $325,000.

8. April 19, 1900 Wood County Reporter Wisconsin Rapids, WI
Article from Wood County Reporter, April 19, 1900

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ness. Porch climbers robbed O. W. Potter the Chicago millionaire, of $25,000 ii jewelry. In Chicago five no-unionists wer attacked and injured by locked-ou unionists. The Cramps emphatically deny tha they contemplate a consolidation with Carnegie. The senate passed a bill establish ing a buffalo preserve in New Mexico. At Colombus, Ohio, the bank of Rein hard & Co., founded in 1868, suspende business. Consul General Holloway says th wealth of Siberian gold fields is over estimated. At Foresters Station, Mich., Doon well Brothers' large paper mill burned. At Saratoga, N. Y., the Sans Sou opera-house and the Schaffer buildin were burned. President and Mrs. McKinley ma go to Poland Springs, Me., early i May to rest. Arbuckle Brothers have advance the price of refined sugar 5 cents pe 100 pounds. General John W. Noble, secretary ( the interior under President Harr son, is seriously ill. Gen. Joseph Wheeler has been mer tioned as a democratic candidate fo the vice-presidency. Republicans of the second distric renominated Charles E. Littlefield e Maine for congress. Ex-President Cleveland in his secon lecture declared officerseekers may 1 as good as their critics. At New Britain Conn., Samuel Bassett, democrat, was elected may by a majority of 341. About 1,600 coal miners in Hopkin county, Ky., struck today, demandin the Indianapolis scale. Constant weeping over the death ( her husband and daughter made New York woman blind. Near Frankfort, Ky., Bud Lecompt farmer believed to be insane, shot an killed his brother-in-law. It is estimated that 10,000 or about of the striking miners in the Pittsbur district returned to work. Gage estimates the surplus for th year at $70,000,000, which would enabl a repeal of the stamp taxes. David S. Hammond, lessee of th Plaza and Murray Hill Hotels, Ne York, died at the age of 65. At Pittsburg Joseph Horne & Co immense dry goods store burned. Th

9. April 19, 1900 Eagle River Review Eagle River, WI
Article from Eagle River Review, April 19, 1900

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Article Text

Ohio Banking Firm Fails. The bank of Reinhard & Co., founded in 1868, suspended business at Columbus, Ohio. John G. and Henry A. Reinhard filed deeds of assignment to Thomas J. Abernathy, who qualified by giving bonds aggregating $325,000.

10. April 19, 1900 Northern Wisconsin Advertiser Wabeno, WI
Article from Northern Wisconsin Advertiser, April 19, 1900

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DOMESTIC. Chicago April wheat, 67c. Republicans won in Newark, N. J. The New York legislature finally adjourned. Colonel J. M. Bell is dead at Milwaukee. At Milwaukee Peck's Sun has ceased publication. Archbishop Hennessy's brother contests his will. Charles Stone, banker, died in New York, aged 70. The Hossian fly is ravaging the wheat fields in the Middle states. Two New York magistrates favor the whioping post for wife heaters. The Maine republican convention platform pledged support to McKinley. Creek Indians of the Indian Territory will remove to Minnesota and Iowa. Hanna is reported to favor the nomination of C. N. Bliss for vice president. The Galena council voted to establish a municipal electrical lighting plant. The Koyokuk district is said to rival Cape Nome and the Klondike in richness. Porch climbers robbed O. W. Potter, the Chicago millionaire, of $25,000 in jewelry. In Chicago five no-unionists were attacked and injured by locked-out unionists. The Cramps emphatically deny that they contemplate a consolidation with Carnegie. The senate passed a bill establishing a buffalo preserve in New Mexico. At Colombus, Ohio, the bank of Reinhard & Co., founded in 1868, suspended business. Consul General Holloway says the wealth of Siberian gold fields is overestimated. At Foresters Station, Mich., Doonwell Brothers' large paper mills burned. At Saratoga, N. Y., the Sans Souci opera-house and the Schaffer building were burned. President and Mrs. McKinley may go to Poland Springs, Me., early in May to rest. Arbuckle Brothers have advanced the price of refined sugar 5 cents per 100 pounds. General John W. Noble, secretary of the interior under President Harrison, is seriously ill. Gen. Joseph Wheeler has been mentioned as a democratic candidate for the vice-presidency. Republicans of the second district renominated Charles E. Littlefield of Maine for congress. Ex-President Cleveland in his second lecture declared officerseekers may be as good as their critics. At New Britain Conn., Samuel I. Bassett, democrat, was elected mayor by a majority of 341. About 1,600 coal miners in Hopkins county, Ky,, struck today, demanding the Indianapolis seale. Constant weeping over the death of her husband and daughter made a New York woman blind. "Near Frankfort, Ky., Bud Lecompte, farmer believed to be insane, shot and killed his brother-in-law. It is estimated that 10,000 or about of the striking miners in the Pittsburg district returned to work. Gage estimates the surplus for this year at $70,000,000, which would enable a repeal of the stamp taxes. David S. Hammond, lessee of the Plaza and Murray Hill Hotels, New

11. April 19, 1900 Crawford Avalanche Grayling, MI
Article from Crawford Avalanche, April 19, 1900

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Ohio Banking Firm Fails. The bank of Reinhard & Co., founded in 1868, suspended business at Columbus, Ohio. John G. and Henry A. Reinhard filed deeds of assignment to Thomas J. Abernathy. who qualified by giving bonds aggregating $325,000.