Citizens Bank - Jackson, OH

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 22, 1859
Location: Jackson, Ohio (39.046, -82.650)

Metadata

Model: gpt-5-mini
Short Digest: cf72535b

Response Measures

None

Description

Article (NY Tribune, 1859-01-22) states failure of the Citizens' Bank in Jackson, Ohio; no run is mentioned. The county could not forward interest payment because the bank failed and there was no money in the treasury. The bank therefore appears to have suspended/failed and the closure is permanent in context. Bank type inferred as state (mid-19th century state-chartered bank).

Events (2)

1. January 22, 1859 Receivership

Newspaper Excerpt: but in consequence of the failure of the Citizens' Bank, the money was not forwarded.
Source: newspapers

2. January 22, 1859 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Article explicitly states the Citizens' Bank failure prevented forwarding county funds; indicates bank insolvency or collapse.
Newspaper Excerpt: but in consequence of the failure of the Citizens' Bank, the money was not forwarded.
Source: newspapers

Newspaper Articles (1)

1. January 22, 1859 New-York Daily Tribune New York, NY

Article from New-York Daily Tribune, January 22, 1859

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Article Text

terest thereon will cease. The Home Insurance Con pary have declared a semi-annual dividend of 20 cent, payable on the 24th just. The Coupons of the First Mortgage Bonds of the Cleveland, Painesville and Ashtabala Railroad Company, due Feb. 1, will be paid at the Ocean Bank. The Com missioners of Jackson County, Ohio, say that provision was made by them for the payment of the interest on the 7 ₽ cent loan, which fell due Jan. 1, and psit to the Citizens' Bank of Jackson, to be transmitted to the Park Bank, New-York; but in consequence of the failure of the Cit zens' Bank, the money was not forwarded. There being no money in the treasury at present, they casnot pay the January interest till July 1, at which time they will have sufficient funds to pay all interest now due and then to become due. We C&D discover no actual change in the rates for money resulting from the attempt of some of the Bank managers to obtain more remunerative prices. The supply of first-class paper is stilt 80 restricted, com. pared with the demand, that outside parties are found without difficulty to take all offered at low rates. Paper, gilt-edged, having thirty days to four months to run, is easily passed at 4@5 ₽ cent, and we hear of sixty day's acceptances done to day &8 low as 31 cent; six month's paper, single name, goes at 5@6 cent, and D8 nes not 80 well known at 7 ₽ cent. On call money is abundant at 4@5 P cent on the usual collaterals of the street and on State stocks, Treasury Notes and other favorite securities at 3 P cent. We understand that the deposite of the Banks are still largely increasing, and the specie line also, which indicate & continuance of the present easy market. The Genesee Valley Railroad is completed to Mount Morris. The annual report of the Terre Haute and R chmond Road must be very satisfactory to the stockholders, aboving as it does net earnings of nearly 12 P cent, notwithstanding the year has been OLE of such general depression. During the fiscal year ending Novem. ber 30, there has been surrendered and converted into Capital Stock, fifteen thousand of the Company's 7 ₽ $1,376,450 00 per cent bouds, increasing the capital stock to 285 000 09 The bonds outstanding are