Dayton Bank - Dayton, OH

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: May 3, 1852
Location: Dayton, Ohio (39.759, -84.192)

Metadata

Model: gpt-5-mini
Short Digest: 9fb96927

Response Measures

None

Description

Multiple May 1852 articles report the stockholders unanimously voting to wind up the Dayton Bank and appointing a receiver (John Rench). No run or depositor panic is described. By November 1852 assets were sold to Mr. Beckel who met liabilities, completing closure. Cause is voluntary liquidation (stockholders chose to wind up, citing the new tax law).

Events (3)

1. May 3, 1852 Suspension

Cause: Voluntary Liquidation
Cause Details: Stockholders voted unanimously to wind up affairs, citing the new tax law as the reason.
Newspaper Excerpt: The stockholders of the Dayton Bank have recently held a meeting and resolved unanimously to wind up and quit business.
Source: newspapers

2. May 4, 1852 Receivership

Newspaper Excerpt: The Dayton Bank has resolved to stop business immediately, and has appointed John Rench, esq., receiver.
Source: newspapers

3. November 12, 1852 Other

Newspaper Excerpt: Mr. Beckel has purchased the remaining assets of the Dayton Bank, and has agreed to meet all its liabilities. The transaction covers an amount of $90,000.
Source: newspapers

Newspaper Articles (6)

1. May 3, 1852 Portage Sentinel Ravenna, OH

Article from Portage Sentinel, May 3, 1852

Click image to open full size in new tab

Article Text

The Panic Begun. No sooner was the new Tax Law adopted by the Legislature than the bank press of the State commenced predicting that the banks would wind up business, and leave the State destitu'e of their precious "home currency." This was to be expected; for when did the people ever attempt to force the banks to deal justly by them but they were threatened with a dire panic? They vainly imagine that the people are in their power, and that by these threa's they can. compel them to continue the unjust privileges they have so long enjoyed. They are not satisfied with wringing from the hand of honest toil from twelve to fortyper cent. net profit, but they demand that they shall be exempted from their just portion of tax ation. The sooner the people are rid of them the better. We see it stated that the stockholders of the Dayton Bank have recently held a meeting and resolved unanimously to wind up and quit business. Of course, this bank, which has been skinning the people to the tune of 20.4 per sent. is unable to pay its taxes, and is therefore forced to stop business on account of the new tax law! This bank, if it had been taxed upon its notes and bills discounted and purchased, as provided by the new tax law, would have derived a net profit last year upon its capital stock paid in of very near sixleen per cent, and yet by this decision of its stockholders the attempt is made to create the impres sion that the tax law has compelled it to wind up. Weshall doubtless witness more threats of the same sort by the swarm of vampires which are bleeding the sons of toil to the tune of from twelve to forty per cent. to foster and fatten on indolent m onied aristocracy in the midst of a republican people. This is theyear for panics, and the tax law a sufficient pretext for the panic makera to bring on a "crisis." But they will scarcely be able to frighten the people into a compliance with their demands, for while they are deriving such immense profits from their business, no one can be so totally blind as not to see that it proceeds from an obstinate determination to hold the people under their control, and to perpetuate those odious privileges which had placed them so far above the laboring masses.

2. May 4, 1852 The Republic Washington, DC

Click image to open full size in new tab

Article Text

OHIO BANKS WINDING UP.-The - Dayton Bank has resolved to atop business immediately, and has appointed John Rench, esq., receiver. This step, it is stated, is taken in consequence of the taxation imposed by the recentact of the Legislature. Other banks there are about to pursue the same course.

3. May 6, 1852 The Weekly Lancaster Gazette Lancaster, OH

Article from The Weekly Lancaster Gazette, May 6, 1852

Click image to open full size in new tab

Article Text

Anti-Slavery Convention. CINCINNATI, April 29.-Last evening were presented resolutions from the committee, declaring that this is not less the native land of the negro than the white man, and that a proposition to remove the former to any other country, is in every way as unjust and impudent as would be a proposition to remove the latter; that when the friends of Colonization manifest the same desire to promote the interests of negros at home that they do abroad, it may be time for colored people to consider Colonization schemes; but for the present, colored people should turn a deaf ear to all Colonization agents. The resolutions were supported warmly by several, and opposed by none; and were finally unanimously adopted. DAYTON BANK CLOSED.-The stockholders of the Dayton Bank have determined by a unanimous vote to "wind up" affairs. The exactions of the tax law are assigned for the reason of this course. We understand that some $36,000 of the circulation now on hand will be returned to the Auditor of State forthwith, and bonds to that amount be recieved in return. The amount of circulation notes still outstanding is about $113,000. These will be redeemed and returned as soon as possible.-Cin. Non. PEACHES.-A friend, says the Steubenville Messenger, exhibited to us yesterday a small twig which he had broken off one of the peach trees in his garden. The blossoms were just beginning to expand most beautifully, and give evidence of an abundant supply of this delicious fruit, notwithstanding the unusual severity of the past winter. He informed us that the lower branches were killed, while the upper ones did not seem to be affected. ANOTHER TRAGEDY IN KENTUCKY.-We learn from the Louisville Times that a blood dy tragedy took place in Danville, Ky., on last Friday morning. Dr. Frank Cowan and the family of the Shelby's having some difficulty, they met, drew pistols, knives, &c. Nine shots were fired, Dr. Cowan receiving a severe wound in the leg and Joseph Shelby being killed. The affair was undergoingjudicial investigation. INTERESTING STATISTICS OF THE NEW YORK POST OFFICE.-It appears from an official statement that during the quarter ending March 31st, there were received by sea at the New York post-office 645,179 letters and 310,812 newspapers. Of the letters receiv183,342 were by the Chagres steamers; 82,946 by the Bremen steamers: 91,785 by the Collins line; 262,882 by the Cunarders, and 24,224 by private ships. During the same period there were sent 177,004 by the Chagres steamers; 127,044 by the Bremen; 109,743 by the Collins; 266,108 by the Cunard steamers, and 7,388 by private shipstotal 687,282. Newspapers sent, 435,136. The whole number of sea letters received and sent was 1,332,461. To this add the domestic correspondence of the quarter, 5,603463, and 180,000 circulars, and it will give 7,115,954 letters and circulars that have passed through the office during the quarter, or a daily average of nearly 80,000. The gross amount of domestic and foreign letters sent and received for the quarter ending June 1851, being the last quarter under the old law, was 4,491,430, showing an increase in favor of the quarter ending March 31st, 1852, of 1,119,063 letters or about 25 per cent., independent of the vast increase of circulars.

4. May 6, 1852 New-York Daily Tribune New York, NY

Article from New-York Daily Tribune, May 6, 1852

Click image to open full size in new tab

Article Text

The City of New-Orleans IS about to make a loan of two millions of dollars. The stockholders of the Joint Companies of New-Jersey, at their meeting last week, passed a resolution in favor of subscribing $100,000 to the Jamesburg Railroad, $75,000 to the Flemmington road, and $500,000 to the Belvidere road. There are now about 16 miles of the Belvidere road above Lambertville under contract, part of which is graded, and which will be completed 88 soon as practicable. The above subscription, it is supposed, will enable the Company to put the remainder of the road under contract forthwith. The extension of the Harlem Hailroad, from Ghent to Troy, has been put under contract. An election was held in Buffalo yesterday, to decide whether the city shall raise money to invest in the Brantford, Canada West, Railroad. A new Board of Directors to the Norfolk County (Maseachusetts) Railroad was elected on Monday. It is understood that its members are in favor of the immediate adoption of measures to give the road a connection with the Norwich and Worcester road, to form 8 new through line to New-York by land. Over $300,000 Pennsylvania 5s have been bought in Philadelphia, supposed forrign, 7c. The citizens of Lewistown, Pa., held a meeting on the 26th ult., and authorized the Councils of that Borough to make a conditional subscription to the stock of the Susquehannah Railroad Company, of $50,000 in bonds to run twenty years, in aid of the extension of the road to Sunbury and Williamsport. Cleveland, Columbus, and Cincinnati Railroad Stock is selling at Cleveland, at 104@105 ₽ cent. The stockholders of the Dayton (Ohio) Bank have determined, by a unanimous vote, to 'wind up' affairs. The exactions of the tax-law are assigned for the reasons of this course. All claims against the People's Bank of Paterson must be presented by the 15th of May inst. The New-Jersey Railroad and Transportation Company have resolved to distribute their Reserved Stock, on the first of July next, when an installment of forty P cent. is to be paid. It is understood that the Company intend to pay off their debt, extend their double track, and make other improvements on their road.

5. May 12, 1852 The Democratic Sentinel and Harrison County Farmer Cadiz, OH

Article from The Democratic Sentinel and Harrison County Farmer, May 12, 1852

Click image to open full size in new tab

Article Text

The Dayton Bank Closed. At à meeting of the stockholders of the Dayton Bank. held yesterday, it was determined by a unanimous vote, to "wind up." The exactions of the tax law are assigned as the reason for this course. We understand that some -36,000 of the circulation now on hand will be returned to the Auditor of State to-day, and bonds to that amount will be received in return. The amount of circulating notes still outstanding is about $113,000. These will be redeemed and returned as soon as possible 1 Dayton Journal. The above announcement should fully satisfy the people of Ohio, that the banks have not heretofore paid their equal proportion of the public taxes; but it will hardly convince the people that the reason assigned for this dete mination is the true one. The sickly countenances of some of these peculiar institutions, have long indicated that they wanted an exeuse to surrender their charters, and we are glad to see that the new tax law affords them an excellent opportunity for escaping from their dilema. The net profits of the Dayton, Independent Bank for 1850, were twenty-one and sixtenths per cent. on their capital invested; and in 1:51, they were twenty and fourtenths per cent. The net profits of the Dayton Branch Bank, for 1850, were 111 per cent. and in 1851, they were 131 per cent.; showing an increase of 2 per cent. after paying taxes under the law of March 21, 1851. They must assign some other reason than the exactions of the new tax law, for winding up - Dem. Bnnner.

6. November 12, 1852 The Organ of the Temperance Reform Cincinnati, OH

Article from The Organ of the Temperance Reform, November 12, 1852

Click image to open full size in new tab

Article Text

DAYTON BANK.-Mr. Beckel has purchased the remaining assets of the Dayton Bank, and has agreed to meet all its liabilities. The transaction covers an amount of $90,000. We understand that this arrangement closes the entire business of the Dayton Bank, so far as the stockholders are concerned, and the terms offered by Mr. Beckel enables the Receiver, Mr. Rench, the late President of the Bank, to pay the last instalment on the stock, as well as a dividend of 5 per cent.-Dayton Journal Nov.