17499. Bank of Hamilton (Hamilton, OH)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 16, 1851
Location
Hamilton, Ohio (39.394, -84.566)

Metadata

Model
gpt-5-mini
Short Digest
82a833b2

Response Measures

None

Description

Contemporary newspaper lists Bank of Hamilton among 'BROKEN BANKS' (Apr 1851) and a later article (Sep 1851) refers to the 'old Bank of Hamilton' having 'exploded' and been run into the ground by its president. No article describes a depositor run; the bank appears to have failed/closed (broken). Date of failure not given precisely in the clips; I use the 1851 reporting dates as evidence of closure.

Events (2)

1. April 16, 1851 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Reported as 'broken' and later described as 'run into the ground' by its president; insolvency/failure of the bank itself rather than a depositor run or rumor.
Newspaper Excerpt
BROKEN BANKS. ... Bank of Hamilton
Source
newspapers
2. September 17, 1851 Other
Newspaper Excerpt
running the old Bank of Hamilton into the ground-which concern exploded, and thus robbed the people holding its bills of thousands, while Mr. Woods was its President.
Source
newspapers

Newspaper Articles (2)

Article from The Spirit of Democracy, April 16, 1851

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Article Text

de Bank of Xenia do Bank of Zanesville do Beltnont Bank of St. Clairsville do Columbiana Bank of New Lisbon Commercial Bank of Scioto, Portsmouth Commercial Bank of Lake Erie, Cleveland do Farmers and Mechanics Bank, Steubenville do Franklin Bank of Columbus do Franklin Bank Cincinnati do Mechanics and Traders' Bank, Cincinnati de Muskingum Bank, Putnam BROKEN BANKS. 10 dis Bank of Hamilton 50 die Bank of Norwalk 70 dis Bank of Sandusky 80 dis Bank of Wooster All other banks either broken or fraudulent. COUNTERFEITS ON OHIO BANKS The following is a list or counterfeits on the vent banks of this State. We have deemed it: useless to publish the counterfeits on those banks whose charters have expired, or which have failed. Bank of Massillon-I's vignette steamboat and railroad cars, which is not on the genuine. 10's, new issue; unlike the genuine; vignette steamboat, s'oop and ship undersail City Bank of Cleveland, Cleveland.-3's, the fig ure 3, across the bill is not distinct. Clinton Bank of Columbus-10'saltered from2's easily detected. Commercial Bank of C'incinnati-3's letter A beautifully executed. and likely to deceive the best judges. In the centre of the nate a large figure 3, the medallion part of which, in the genvine. is beautifully wrought, whilst in the counterfeit, it is faint and but partially tormed. No. tice also, that the female upon the left of the bill in the genuine has a string of beads aronnd her neck, the counterfeit has no beads. The genuine notes of the old bank of this name having been mostly all redeemed, it will be best to refuse all notes dated previous to 1845. Dayton Bank letter A. regularly countersigned by the Register. It is half an inch shorter than the genuine The flourish over the letter A" should be the same as over "No." in the counterfeit it is just the reverse-engraving inferior to the genuine Franklin Bank of Zanesville, Zanesville.--3's, letter A; the figure 3 across the bill is very indistinct Lafayette Bank-1's vignette a steam boat; on the left an Indian holding up his right hand. 5's, letter C., badly executed. Cashr's name engraved whale face of the bill lighter than genuine 5's, let. B., vig signers of the Declaration of Independence, most beautifully engraved, and good paper. Gano, Cashier: Carlisle. President. Observe the head of Lafayette; in the genuine there is flourish or hair stroke, which is delicate and nearly touches the marginal border in which the head is encircled, whilst in the counterfeit it is coarse breaks off abruptly, and lacks the 16th of an inch of touching. Notice also the flourish above the word Cashiet which, in the genuine turos up and nearly touches the word Cincinnati whilst in the counterfeit it turns down. 10's. spurious They have for vignette view of the ocean, and an eagle resting upon a shell. 10's letter vignette an eagle standing in a car, wings expanded. The engraving good, but paper bad. The bank has DO such plates. 10' spurious. The vignette is two children seat ed, on the right end a full length portrait of Gen. La Fayette Payable to H. Peachen, Thomas String and other persons, and of different dates. The medallion head, with the word TEN stamped on it is very rough and indistinct. 10'3, letter B. dated January t 1845. W. w Gano, cash., with pale ink, G. Taylor Prest. Paper rather dark general appearance good. 20's, close imitation of genuine;let. B. dated Jan 4, 1844, pay C. Conahan: the toes of the female in the vignette imperfect, and the right hand of the Indian on the left end of the bill imperfect. 100's spurious. The genuine bills have ared back. Ohio Life Insurance and Trust Co. 5's, spuri. ous. Vignette a drove of cattle and a locomo. tive and cars in the distance. Sandusdy City Bank-3's letter A. Description about the same the description of the counter: feit 3's on the Commercial Bank of (Cincinnati. State Bank of Ohio-5's, engraving coarse. The bill contains the red back: and on the back of the genuine it reads State Bank of Ohio; on the counterleit it reads State of Ohio. 3's. 5's and 10's, alt from l's and 2's; hold them up to the light and the alteration can be detected 100's, none higher than 50's issued. 1's, letter D, imitation of genuine, engraving course; apparently lithographed; signatures lithographed; filling and date very pcorly done. 5's, letter B payable at the Union Bank, Massil lon. Paper and engraving course 5's, poorly done. The head of Franklin.on the left end of the bill is badly engraved and the left ayo is omitted 10's, vignette a man on the left and a female on the right; railroad cars in the distance on the left; large X in the centre of the vignette eagle at the bottom. The words State Bank of Ohio' larger than the genuine 10g, general appearance calculated to deceive, but ou examination and comparison with the genuing, will be found crude, and imperfect in detail. The prominent figures in the counterfeitare lacking in expression and careful minute, ness. Faces, hands, implements, &c., in the central vignette, are blurred and indistinct. Portrait of Gen. Harrison on left hand end, ob. scure and undecided; in the genuine the figure is distinctly relieved from the back ground, the coat showing dark in color against it The dog's head on the bottom part, between the signatures, is rough and coarse, and the scrolls containing the words "Mutual Liabily' on eith. side, are faint. and smaller than the genuine. The figure of Minerva on the right side, perhaps one of the best tests of comparison; in the genuine, the spear in the right hand of the figure, touches the letter T in Ten. above; while in the counterfeit it is midway between the letters T. and E: and on the breast-plate face is distinctly seen in the centre. The word Ten, under the figure, is pale and weak in sbad. ing, but dark and plain in the genuine. 1s, various branches: a good imitation. Detest by the star or_areola (on the back) at the end of the bar enclosing the words "State Bank of Ohio;" being set in the centre asquare block, which is not so in genuine Western Reserve bank-10's letter D. (Murray, Draper & Fairman's plate,) badly executed. Date unknown. The wor is Western Reserve Bank on the left, and 'Ohio' on the right margin; on the genuine notes they are the reverse. Signed Zalman Fitch. ono OTHER BANK PAPER. The principal part of the circulation in this see. ion of the State, in addition to Okio paper, is on he banks of Indiana, Kentucky, Western Penn2 ylvania, and Wheeling, Va., which passes.gener.


Article from The Spirit of Democracy, September 17, 1851

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Article Text

# THE JOURNAL ON AUDITORS. The Journal is not content with Mr. Morgan as candidate for State Auditor, and imagines he is badly qualified for the office. In the first place, is it to be presumed that the Editor of the Journal is a better judge of the qualifications of a man, than, a nominating convention, composed of hundreds of intelligent and patriotic citizens of Ohio? In the second place, nobody ever heard of Mr. John Woods' great qualifications for Auditor, before he was tried, unless he evinced his financial abilities by running the old Bank of Hamilton into the ground-which concern exploded, and thus robbed the people holding its bills of thousands, while Mr. Woods was its President. How would the people ever have learned that he is the marvellously able statesman that the Journal claims, if he had never been made Auditor? We can assure the voters of Ohio, that Mr. Morgan is not less talented, in any respect, than Mr. Woods, and we will warrant that the credit of the State will stand on a better basis at the end of Mr. Morgan's one term, than it does now, at the close of Mr. Woods' more than two terms! There is another drop of milk in this cocoa-nut, which the people ought to see. While the Journal, Auditor Woods, and the rest of the whig office-holders and editors, were opposing the New Constitution, they pretended to be very fearful that the lawyers would control the offices under the New Constitution more than other citizens? Now look at it,—here is Mr. Woods, a Lawyer, having already been State Auditor more than six years, who, the Journal insists, shall be elected the fourth time to that office, over Mr. Morgan. Now, what difference is there between the men, as to this matter?—Mr. Morgan is no Lawyer, it is true, but no man who knows both gentlemen will dare say that, with all his advantages, Mr. Woods is a man of superior business qualifications to Mr. Morgan, or thousands of other unpretending, modest men, like Mr. Morgan, in the State. If Mr. Woods can make so very good an Auditor by being at his post only a few months during the year, Mr. Morgan will make a better one, by being always at his post. If Mr. Woods can discharge the very "complicated duties" of Auditor, while spending his time on the stump, begging votes, we will assure you that Mr. Morgan will make a better Auditor, by staying at home during elections, as he does now, while Mr. Woods is electioneering. The people have too much sense to mistake vast pretensions for mighty talents, or retiring modesty for incompetency. The whigs make great men out of their Bebbs, Woods & Co., by an elaborate system of puffery and blowviation. We ask nothing for our candidates but a fair trial—they need no stereotyped encomiums. We have invited our opponents to a test of the metal of two of our candidates, but when it comes to that, they are off. So it is with Mr. Woods, while Mr. Morgan is at home earning his bread by the sweat of his brow, Mr. W. is abroad beseeching his fourth election! The people can judge of the merits of such men, without the Journal's interference or dictation.—Meantime the whigs have a good many axes to grind, by retaining Mr. Woods in office, which, if the people regard their best interests, they will take good care to prevent. Mark our warning.—Statesman.