17587. Bank of Massillon (Massillon, OH)

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: November 8, 1853
Location: Massillon, Ohio (40.797, -81.522)

Metadata

Model: gpt-5-mini
Short Digest: 35731b5e

Response Measures

None

Description

Multiple articles (Nov 6–Dec 1853) report the Bank of Massillon declining redemption of its bills, suspending payments and being 'failed' as a consequence of heavy exposure to H. Dwight Jr.'s failures. No clear account of a depositor run is given; the cause is bank-specific adverse information (Dwight's failure/embezzlement of bank funds). No reopening is reported; classified as suspension leading to closure.

Events (1)

1. November 8, 1853 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Suspension and failure triggered by the failure of H. Dwight Jr., who had large sums of the bank's funds and used bank circulation as collateral for railroad/speculation; Dwight's failure 'burst the bank'.
Newspaper Excerpt: By a private dispatch, says the Ohio State Journal, we learn that the Bank of Massillon has declined the redemption of bills, for the present. It's generally conceded that this suspension is nothing more or less than an announcement of failure.
Source: newspapers

Newspaper Articles (18)

1. November 6, 1853 The New York Herald New York, NY

Article from The New York Herald, November 6, 1853

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FINANCIAL AND COMMERCIAL. MONEY MARKET. SATURDAY. Nov. 5-6 P. M. There was a heavy market this morning, and prices. compared with those current at the close yesterday, show a slight decline. According to the reported sales there appears to be a respectable amount of business transacted daily; but such is not the fact. Of the sales reported not one quarter part are real bona fide operations. A thousand shares of any fancy put on the market, would knock down prices two and three per cent. The bulls make a pretty good show of operations; but it is not 80 easy to get rid of unproductive fancy ocks in times like these. At the first board to-day Canton Com. pany declined 1/2 per cent; Nicaragua Transit, 1/2; Cumberland, 1/4; Parker Vein, 14; New York Central Railroad, 1/4 Erie Railroad, 1/2; Harlem Railroal, 1/4; Reading Railroad; 1 1/2; Hudson River Railroad, 11/4; New Haven Railroad, 14. At the secoud board the market remained about the same. Reading Railroad fell off 1/2 per cent. Pennsylvania Zino advanced 1/4 per cent; Erie Railroad, 1/2. A new fancy, by the name of Sullivan Land, Mining and Manufacturing Company, made its appearance in the stock market at the second board to-day. There were sales at 3 per cent. Third ave nue Railroad stock was sold at the second board to-day for the first time. It opened at par. The raile of this road are now laid to Sixty-first street, and about sixty cars are now on the line. The company own the line of omoibuse beyond, including horses, stables, &c., all of which are included in the capital stock. The road will ultimately be extended to Harlem river, and the running equipments largely increased. During the month of October the receipts averaged $1,000 per day. There were rumora upon rumors of bank failures to-day. The Oawego Bank, New York, an old safety fund concern; the Bank of Massillon, Ohio, and a bank in Connecticut, are said to have gone by the board. Not one of those institutions is under the stock security system, and bill holders will have a poor look for the redemption of their demands. The receipts at the office of the Assistant Treasurer a1 this port to-day amounted to $269,755 48; payments, $358,408 18-balance, $6,408,659 18. From the Schuylkill regions the past week, the coal tonnage was 62,999 tons-by the cauni, 24,604 tons, and by the Reading Railroad, 36,434 tons. The former in

2. November 8, 1853 Wheeling Daily Intelligencer Wheeling, WV

Article from Wheeling Daily Intelligencer, November 8, 1853

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FALSE IMPRISONMENT.-A court in Chemung county, N. Y., has decided that false imprisonment occurs when railroad passengers are carried beyond the station at which they intend to stop and to which fare has been paid. The Erie Railroad Company were mulcted in $25 damages for carrying a Mr. Van Allen beyond his intended station. alex Look OUT.-By a private dispatch, says the Ohio State Journal, we learn that the Bank of Massillon has declined the redemption of bills, for the pres ent. It's generally conceded that this suspension is nothing more or less than an announcement of failure.

3. November 11, 1853 Kenosha Telegraph Kenosha, WI

Article from Kenosha Telegraph, November 11, 1853

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The Bank of Massillon. We learn that the report of Yesterday regarding the suspension of the Bank of Massillon was premature and that its bills were being redeemed at its office this morning. But this is of course but temporary; there is everv reáson to suppose that the failure of Dwight will swamp the Bank hopelessly. It will of course be remembered that the Bank of Massillon is one of the banks chartered under theold system, differing altogether from the State Bank and Branches and Independent Bank, all the bills of which are secured by the highest grade of stocks actually deposited at Columbus. LATER.-On the arrival of the Express Train to-day the Bank closed W holly. This can be relied on.- Cleveland Herald, Sat-

4. November 11, 1853 The Daily Dispatch Richmond, VA

Article from The Daily Dispatch, November 11, 1853

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LOOK OUT.-By a private dispatch, says the Obio State Journal, we learn that the Bank of Massillon bas declined the redemption of bills, for the pres. ent. It is generally conceded that this suspension is nothing more or less than an announcement of failure.

5. November 11, 1853 New-York Daily Tribune New York, NY

Article from New-York Daily Tribune, November 11, 1853

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Money continues very abundant at the Stock Exchange and both at the Bank of England and out of doors the demand for discounts has greatly moderated The Daily News of same date says Money continues plentiful and the tendency of the mar ket today Wns rather in the direction of increased altboughthere still a decided indisposition to lend money for long periods, The English funds opened this morning at an advance of per cent on the closing rates of yesterday, and showed an upward tendency nearly all day. finally closing at a rise of about I percent. The purchases of the publie for money continue active, and are increased for the time by the reinvestment of the dividends. This influence, combined with the arrivals of gold, the absence of any fresh unfavorable news of a political character. and the receipt from some parts of the continent of more pacific rumors, has sufficed, in the present oversold position of the market, to induce considerable buying on the part of late speculators for a fall. who are anxious to cover their sales. Further operations for lower prices have at the same time been in great measure suspended. At the closethe market was steady at the advance. with Consols opened firmly at 9g to 1. and ascended scarcely check to 92 to t. At the official close the qaotation was 92 exactly, both for money and account at o'clock.91} to 92; and after that hour, 92 to 1. At Hamburg, two mercantile*failures are reported, ow ing to the continued fall in stocks and shares, in which they were largely interested. Being old established houses, untheir failure was much regretted, and had produced an favorable impression in Hamburg and Berlin. The remainder of the bar silver brought by the steamer La Plata had been sold in the London market, chiefly for India and China, at 5/11 ₽ ounce standard, the price previously reported. Atral of Berdan's gold crushing machine was made in London on the 25th of October, in presence of the officers of the Bank of England, and a number of leading scientific men,which is said to have given great satisfaction to those present There had been some large arrivals of specie and bullion in London, which would enable the Bank to show an in create of bullion in the next statement The Pherix Mining and Manufacturing Company more generally know 88 ** Phenix Coal Co., own ome 22,000 acrea of very valuable mineral lands, situated on both sides of the Potomac River, in the States of Maryland and Virginia. The principal object of this Company in mining Coal. but there are numerous veins of Iron ore on their landsthat it is thought can be worked to very great ad vantage,should it ever be thought to be more profitable then the Coal Mines The Coal in semi bituminona and known in market BM Comberland Coal. The Baltimore and Ohio Railrond passes within few hundred feet of the mines of the Com pany. so that the facilities of getting Coal to market are good The capital in 91,200,000. Share 8100 each The stock of this Company was originally held very much as the Parker Vein in now by the speculators in and particularly sincethe election of Samuel L to the Presidency, been taken up a good deal for actual investment 20 that now there in but little of the stock on the market Occasional sales are made at the Stock Board at about 15 to 16, Thousand's Reporter. The facts am simply the Since the discovery of the franda on the Company in August last the President and Directors he caused a fall examination to be made of their arrand their large landed property and although these examinations yet complete enough has been ascer to entifify these of its great mineral vaine They have put then at their mines, and the whole because of the Company has been placed in the hands of and efficient Michagers inrelation to the Bank of Massillon which Was Involved In the Mare of Mr Dwight The Cleenland Plain Doaler The capital $100,000 with the privilege of loving bills A few years since Dwight it of its stock making him sole controller of purpose Hallroad and Company lesped road of bonds of $100,000 of lateral recurity delivery The balance to the Bank ressing Railroad bio circulation's has been need West building the of its means 8350,000 subject hands had business in his at home of the Bank Dwight the and saved drafts, and his failure in York of course band to sight Bankers Banka Our city Bank timely demand of specie at the Bank The $200,000 We happened to The of the vicinity of Dwight Railroad last Thursday, when money were hands Callroad bills issued the Cleveland and Pittsburg pay peculiarly marked the St. Clair Red and figures the with Back his Itis oid Mr D. has million and 10 half stamped in blood hands,enough be occoverted pay several times his liabilities propert it could in He from returned has just 18.-We have just seen the Cashier of this Bank who thinks tion of $30,000 the Bank about the $180,000 circula drawn out leaving circulation. If Mr. Dwight returns to the $150,000 $200,000 bonds of the Pittsburgh Road. Bank the the go part of its assets, 80 much will for which are legally holders soon The road is ready to redeem in coin benefit said of bonds bill then be ht $150,000 they are unprovided in possession for of the Bank. There will The following letter from Mr C.C. Douglass, Saperin tendent in of the Isle Royal Mine, gives us some information regard to the Portage Lake Mines ferent The points Webster vein has been opened and worked and along its course over one hundred at dif point has it been found barren of rods, The copper occurs in stamp and barrel work. copper. Vein suriaco composed of epedote spor quartz, truss and stone work will be 80 far completed that miners copper. The accommodated month. and set to shafting by the first of can next be of On the the vein. whole The I am highly pleased with the bion and prospect of the Tale Royal, appearance all Dodge Companies decidedly Portage, All raising copper. The Ripley Company good. They are overlying very promising the rock veins, But owing to a heavy have body several of soil they have not as yet been able reach the Ifle Royal vein. ly At the marked Pewabic mine they have opened four sinking veins, all of which carry very strong Vein. Montezuma a shaft on the vein known copper, as the and Henderson are about The this vein, Montezuma and the Company are now sinking a shaft The results 80 far are decidedly on month receipts of of the Baltimore and Ohio Railroad satisfactory $30,000 October. are stated at about $305,000, for the in speaking over of the this September road receipts. The Baltimore being some Sun day: The but monthly we learn meeting of the Board is to take place make the annual that in consequence of the design to details A financial it will not report ready very for full and thorough in all its to Board, exhibiting statement the actual condition however presentation will be laid this before morning the Company marked and is rumored that this and prospects of the Swann. variation from the prospective statement will show Com at pany diet with submitted the his time. opinion to of the the public financial last condition spring, estimates and of even the of Mr. 10. Nov. THURSDAY at for both kinds steady Markets ASHES-The CAREFULLY market REPORTED FOR THE N. Y TRIBUNE sales, demand active COTTON 196. rulation, for and State Vestern Franklin than

6. November 12, 1853 Fremont Journal Fremont, OH

Article from Fremont Journal, November 12, 1853

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8 Failure of the Bank of Massillon. The Cleveland Herald says, this Bank has for years sustained the reputation of being judiciously and honestly managed. It has passed through trying times, when many other insitutions of like nature have failed, and bill holders had been taught to look upon a note issued by the Bank of Massilon as worth its face in gold. Notwithstanding its good name, and its enviable credit, it has been such that the announcement by lightning of the failure of the broker in New York, hermetically seals up the vaults of this Bank and closes its doors. The Bank of Massillon of course had its array of officers, its President, Cashier and full board of Directors; its accounts have been kept with exactness; the Directors have had their weekly meetings and declared its semi-annual dividends and the poor blinded dividends and the poor blinded public has little dreamed that all this formality has been observed inside a mere shell, that all this goodly outside show was but a cover for a heartless scheme of fraud. Bnt so it must be. The officers of this one-man Bank have known where its funds were. they must haye been aware that the least jar to the credit of the man who owned it, would involve in a serious loss the innocent, credulous bill holders, who, looking upon their miserable farce of Bank government as a genuine reality, had salted down the promises to pay issued by the hands of these dummies. What excuse have the nominal managers of this skeleton institution to render to the honest, hard-working farmers of Ohio for the fraud perpetrated e against them ?-Do they say, that the Bank belonged to Mr. Dwight, and like any other man, he has a right to do what he may like with his own! This answer is not satisfactory. The public have extended confidence to 3, the board of Directors and the corps of officers, in the full belief that the affairs of that Bank would be managed faithfully and honII estly for the joint benefit of its stockholders if and the public, and the absorption of the e funds of that Bank by one man, so completely that its credit rested on the uneasy wave of o Wall street, was an outrage and a fraud. It is stretch of credulity to suppose that a dozen men of character could be found, to lend themselves to such uses, to be stuffed W with straw and moved as puppets to do the bidding of a stock-breker. No matter what d the reputation or credit of the debtor may d have been, these Bank officials have been rey creant to their trust in permitting any one man y thus to plunge his hands into its vault. We hope the names of the managers of the Bank OF of Massillon may be published, that Ohio may IS know who these men are, to whom Mr. Dwight can say "go, and he goeth, and come it and he cometh." We wish the mystery of banking could be exposed ; that perfect security to the bill holot der by a deposit or Federal of State Stocks y would be the only requirement, and then an explosion would be comparatively harmless, e and free from panie or apprehension. r,

7. November 12, 1853 Wheeling Daily Intelligencer Wheeling, WV

Article from Wheeling Daily Intelligencer, November 12, 1853

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THE BANK FAILURES.-The Cincinnati Gazette Thursday says of the rumors of the failure of se eral country banks in New York, which were rife esterday by the last night's mails; The Patchin ask, at Buffalo, has doubtless failed. So has be Bank of Massilon. The Bank of Owego (not Oswego) was shaken in credit by the failure of Mr Dwight, who was its debtor about $130,000, but it removed its business to the Metropolitan Bank and vas restored to full credit. Itdid not even[suspend. This is a safety fund Bank, and reports a surplus of $10,000. A Bank in Connecticut, name not given, IS mentionsd as involved with Dwight, and as havng failed. No mention is made in the New York papers, or in those of Beffalo, of the failure of the Pratt Bank, the Chatauqua Bank, the Bank of Tiogs county, or the Bank of Oswego. The bills of the Patchin Bank of Buffalo, says the Advertise of that city, are abundantly secured with the Banking Department, and there is little Houbt that the private fortune of Mr, Patchin, which it is understood, will be devoted to the object, will protect depositors and creditors from ultimate loss." The Gazette says: "We see no cause for any alarm in Ohio. Our banks are generally admitted be well managed, by honest and capable men, and no reason exists for distrusting them. Certificates of deposit for small amounts payable to beaer, the Cleveland Herald is informed, have been issued by the Forrest City Bank of that place, which if intended for circulation, are objected to, 2 not legitimate Bank issue.

8. November 16, 1853 New Orleans Daily Crescent New Orleans, LA

Article from New Orleans Daily Crescent, November 16, 1853

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and sympathy here. BANK FAILURES.-The N. ¥. Courier and Enquirer of the 8th says: The Bank of Owego, which was currently reported on Saturday as having suspended. is still in operation. Its bills are punctually redeemed at the Metropolitan Bank in that city. The Courier learns that the Bank of Massillon, Ohio, has suspended in consequence of the failure of Mr. Ii. Dwight, Jr., of New York. From the official report of liabilities and assets made in August last. it would appear that the bill brokers have ample security.

9. November 17, 1853 The Weekly Lancaster Gazette Lancaster, OH

Article from The Weekly Lancaster Gazette, November 17, 1853

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THE BANK FAILURES.- - The rumors of the failure of several country banks in N. York, which were rife yesterday, are not confirmed by the mails. The Patchin Bank, at Buffalo, has doubtless failed. So has the Bank of Massilon. The Bank of Owego (not Oswego) was shaken in credit by the failure of Mr. Dwight, who was its debtor about $130,000, but it removed its business to the Metropolitan Bank, and was restored to full credit. It did not even suspend.This is a Safety Fund Bank, and reports a surplus of $70,000. A Bank in Connecticut, name not given, is mentioned as involved with Dwight, and as having failed. No mention is made in the N. York papers, or in those of Buffalo, of the failure of the Pratt Bank, the Chatauqua Bank, the Bank of Tioga County, or the Bank of Oswego.

10. November 17, 1853 Gallipolis Journal Gallipolis, OH

Article from Gallipolis Journal, November 17, 1853

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has such West, failed. below We give as we In have. regard information the the rumor Bank about Southern the says: Journal Louisville Kentucky, from seems Kentucky Banks. an abour that Cincinnati has surd there rumor gained dispatcereulation in to of the the Kenregard solvency We best authorhave nevthan they tucky for Banks. saying that sound condition ity been in a more present time.' 8. Nov. er are at this Cincinnati, on the The notes Buffalo, Patchin, and are refused Tioga banks Owego here to day. 8. Nov. Baltimore, suspenBank of Buffalo it is said, and The Patching in consequent Buffalo the of of Pailroad. Patchin, of the ded yesterday, loans made to president railpresident on and road, liabilities is its There behalf. in to this the York bank, has is also assumed good the deal of exmatter. regard of this The failure anbeen citement Owego Bank. bank, which connected has ban- with the of ker New York. safety fund said to be Dwight, was of The Journal $200,000. on its nounced, suspension is of Henry Its capital Commerce which fund, safety is derely, It and is just says that the might in theory overdrawn. may possible some indemnity the of bank funct, the Legislature for the prove, billto they doubtless charters the holders, provide if the assets will, insufficient of most and of expired, the soon rest are deem as safety them. fund The will. banks No have such charters BANK. MASSILLON be will the what is not yet loss defi- to known nitely on the The Bank probaholders we the that holdthink,) ers cent. fifty per and them we bilities bill will are not (as realize we don't over for know that of sum. hear any amount has some body on them, that will buy rather rumors Mr. Dwight, for years, has used and The facts, to about or this: been the its principal circulastockholder, his in tion, business operations. $400,000 authorized that about $350,000 suspension. It was and it seems time of the $1,500,000 bills, out the Dwight has Enough liabilities be were It is said that in his hands. and leave a converted of discharge property his if they that could the Pitts- rub. $200,000 burgh large surplus, into cash. of But bonds of the and if possession, are they redeem returned, This cash. would He has road, in his the road leave from 8150 other sources. has The road of been using Chicago 200,000 the them with to be and the of the but what bank, amount company are at we not this the owes road time, informed. of the one was Bank assillon in has and old 1835, all the from without it for The banks, chartered rubs of the bending times to when the blast. one and that man, of the tor, control obtained that stood day But to this, one bad day stock its specula- means, his its and suit purshaped policy poses. sufficient to the bill collateral protect is the and safest security, A deposit holder, as best plan. of we our those advise Meanwhi who have money, readers, Massillon on hold for Don't few days. the too deep shave brokers your Journal. OF The BANK Cleveland of says: Herald evening Saturday the With give informapleasure tion from banker received Cleveland Mr. New that from York, just returned he that had stated sufficient Dwight to all his and pay liabilities, to time soon had them make would dollar every redeem available, We bills. the of of Bank Massillon's a to heavy not-to advise holders submit the them hands brokers. shave upon We Clinton surprised Bank.be that any body should Thumbugged the into the that belief Bank Clinton in body Every Columbus has failed. be There knows false. a it. not for The bank foundation of our busihas the confidence is it, no There upon ness men. any susjustify exciteme nothing of its The pictons character solvency. of its that rumor managers this We sort here. gains credence in the are the banks country Ohio State equally Journal. We see that stated committee, the by Chamber Cincinnati the subject, examine that the body, report amending of the the Banks Bank of of The Bank Planters' of the and TenBank Union Tennessee, the of the Inthe notes essee, same &c., They Banks. Kentucky, is and there safe, to do the legiticurrency

11. November 21, 1853 Grant County Herald Lancaster, WI

Article from Grant County Herald, November 21, 1853

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LAND HO! Wall street is out of the woods. The tide has turned and we are bound up. Exchange on Europe has fallen below a specie point-gold is on the increase in our Banks-deposites ditto--accommodations are easily obtained-shinning on the decline-Stocks are rising-no panic among the Banks--all's safe. The Bank of Oswego is good--no Connecticut Bank has failed. The Patchin Bank of Buffalo has stopped, but its notes are secured, and it is our opinion that they will be redeemed in a very short time. The Bank of Massillon, Ohio, is said to have failed. There may be a few more failures among railroad sufferers, but the country is safe--the Banks, with a few exceptions are safe. The merchants, all who have kept out of railroads peculations are sound. Brokers and bankers except railroad bond and stock speculators, are safe. On the whole, these United States ware nearer safer. Now for higher pri ces - Bank expansions speculators glorians times-plenty of money and plnty of fun. Have mercy on all croakers and old fogies.-[Thompson's Rep.

12. November 23, 1853 The Spirit of Democracy Woodsfield, OH

Article from The Spirit of Democracy, November 23, 1853

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Broken Bank History. The history of the Bank of Massilon. Ohio, and of its operations as connected with Mr. Dwight, are thus given in the Cleveland Plaindealer of the 7th inst. : This bank was chartered about the year 1835. with twenty years to run, and is one of the four. with W ooster, Clinton and Circleville, of those old wild cat concerns that has tried to live out its appointed time. belonged neither to the State banks, State stock banks, or independent banks of the State, but a sort of freebooter. with license to ain and. sink whenever a big swindle can be effected. The capital was $200,000. with the priv ilege of issuing $400.000 in bills. A few years since l'wight purchased $170,000 of its stock, making him sole controller of its finances. and it appears he has used i: for his own purposes. IIe loaned the Cleveland and Pittsburgh Railroad Com pany $200,000 of its circulation. taking bonds of the road as collateral security transferable on delivery. The balance of circulation. $200.000, has been used West. building the Chicago and Mississippi Railroad, the bank ceasing to do busi ness at home. By the last reports of the bank. Dwigh: had in his hands $350,000 of its means subject to sight drafts. and his failure in New York of course burst the bank. Oui city banks and bankers saved themselves timely demand of specie at the bank The $200,000 out West has not yet been heard from. It appears that the means of payment will depend greatly on the estate of Dwight.

13. November 23, 1853 Cooper's Clarksburg Register Clarksburg, WV

Article from Cooper's Clarksburg Register, November 23, 1853

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# A BROKEN BANK HISTORY. The history of the Bank of Missillon, Ohio, and of its operations as connected with Mr. Dwight, are thus given in the Cleveland Plain Dealer, of the 7th instant: This bank was chartered about the year 1835, with twenty years to run, and it one of the four, with Wooster, Clinton and Circleville, of those old wild cat concerns that has tried to live out its appointed time. It belonged neither to the State banks, State stock banks, or independent banks of the State, but a sort of freebooter, with license to sin and sink whenever a big swindle can be effected. The capital was $200,000, with the privilege of issuing $400,000 in bills. A few years since Dwight purchased $170,000 of its stock, making him sole controller of its finances, and it appears he has used it for his own purposes. He loaned the Cleveland and Pittsburg Rail Road Company $200,000 of its circulation, taking bonds of the road as collateral security, transferable on delivery. The balance of his circulation, $200,000 has been used West, building the Chicago and Mississippi Railroad, the bank ceasing to do business at home. By the last report of the bank, Dwight had in his hands $350,000 of its means, and subject to sight drafts, and his failure in New York of course burst the bank. Our city banks and bankers saved themselves by a timely demand of specia at the bank. The $200,000 out West has not yet been heard from. It appears that the means of payment will depend greatly on the result of the estate of Dwight.

14. November 25, 1853 Kenosha Telegraph Kenosha, WI

Article from Kenosha Telegraph, November 25, 1853

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THE Banks.-Thompson's Reporter says, "in answer th a multitude of inquiries about Banks, we would say, only two have failed, viz the Bank of Massilon, Ohio, and the Patchin Bank of Buffalo. The many rumors about other Banks, are all wrong, and we do not know wherer there is a decidedly doubtful one. The fright, the pressure, and the danger is over, and there is an easy and prosperous future before us. There is no premium on Gold, and we fill all orders ror New Silver at one half per cent. Panic makers' occupation's gone-have mercy on croakers."

15. November 26, 1853 The Evansville Daily Journal Evansville, IN

Article from The Evansville Daily Journal, November 26, 1853

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at Thompson's Bank Note Reporter of the 19th inst., says: In answer to a multidude of inquiries about Banks, we would say only two have failed, viz., the Bank of Massillon, Obio, and the Patchin Bank of Buffalo. The many rumors about other Banks are all wrong, and we do not know where there is a decidedly doubtful one. The fright, the pressure, and the danger is all over, and there is an easy and prosperous future before us. There is no premium on gold, and we fill all orders for new silver at 1/2 per cent. Panic-makers' occupation's gone-have mercy on croakers.

16. November 29, 1853 Nashville Union and American Nashville, TN

Article from Nashville Union and American, November 29, 1853

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# A BROKEN BANK HISTORY. The history of the Bank of Massillon, Ohio, and of its operations as connected with Mr. Dwight, are thus given in the Cleveland Plain Dealer, of the 7th inst.: This bank was chartered about the year 1835, with twenty years to run, and is one of the four, with Wooster, Clinton and Circleville, of those old wild cat concerns that has tried to live out its appointed time. It belongs neither to the State banks, State stock banks, or independent banks of the State, but a sort of freebooter, with a license to sin and sink whenever a big swindle can be effected. The capital was $200,000, with the privilege of issuing $400,000 in bills. A few years since Dwight purchased $170,000 of its stock, making him sole controller of its finances, and it appears he has used it for his own purposes. He loaned the Cleveland and Pittsburg Railroad Company $200,000 of its circulation, taking bonds of the road as collateral security, transferable on delivery. The balance of his circulation, $200,000, has been used West, building the Chicago and Mississippi Railroad; the bank ceasing to do business at home. By the last reports of the bank, Dwight had in his hands $350,000 of its means, subject to sight drafts, and his failure in New York of course burst the bank. Our city banks and bankers saved themselves by a timely demand of specie at the bank. The $200,000 out West has not yet been heard from. It appears that the means of payment will depend greatly on the result of the estate of Dwight.

17. December 3, 1853 The Weekly Minnesotian Saint Paul, MN

Article from The Weekly Minnesotian, December 3, 1853

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The Democrat says we 'cooled off' to wards the time of election. and abandoned the support of Mr. Rice's opponent for Congress. Admitting this to be true. which we not, we had an illustrious and analagous example to follow. David Olmsted, in 1850, started out with supporting himself for Congress, as the nominee of a mongrel convention, but before the election he got clear over to the Whig side and voted for the Whig candidate. The editor of the Democrat is constantly haunted with the idea that we are about tojoin his party. That he need not fear. so long as he is connected with it. We had quite enough of associating. politically, with him in 1850, when we stood side by side. battling for the election of Mitchell, the Whig candidate for Congress. The Crystal Palace of Cathcart, Kern & Co., on Roberts street, continues to be one of the chief attractions of this place. The reputation which it has acquired of keeping everything and the best of everything. has w suspect. done more towards establishing its present popularity than the low prices and the honorable dealing and gentlemanly attention of the proprietors.-Democrat. We dissent to the above as a slander upon our polite and attentive neighbors of Roberts street. We are aware that a well selected stock of everything is something toward the success of a mercantile establishment but then if the Crystal Palace' folks were devoid of honorin dealing and gentlemanly attention to their tomers, as well as guilty of the folly of selling at high prices, as hinted at by our neighbor. we f imagine the fair throngs which crowd the estabt lishment would be few and far between.' The cars on the C.&U. Railroad. are now running to Lena, twelve miles east of Galena. t and ras expected that by to-day. (Dec. 1) the road would be completed to within six miles of the latter place. Persons who travel east, will be glad to learn this fact-no more staging, only think of that !-Pioneer. Several mistakes, neighbor. In the first place, there is no such road you name, building west of Freeport. Next, Lena is forty miles east of Galena and lastly. if the road gets within six miles of the latter place next June, there will be an occasion of rejoicing we do not now anticipate. -Dickson as will be seen by his card, although shot at and not missed. is still in the land of the on livliving ing of and others. hand The to provide Nonpareil for the Restaurant good goes and is the very place to drop in for hot and well got up meal of a cold day or evening. Things are provided there in the very best of style, but do not take our word for this. Sunday was a cold day-a day that would have done justice to mid-winter. The mercury stood at 12 degrees at daylight. That was at Davenport, Iowa. on the 6th ult.. as we learn from the Gazette. By the record g was quite a cold day here, but several degrees of x warmer than indicated by the instrument of our e Davenport neighbor. o LYOSIZING.-Hon. Henry A. Wise was mar: ried to Miss Mary Lyons, at Richmond, Va., cthe 1stult. st la -Mr. Brown-the very identical Jim Brown e the science nigga. perhaps-plays the tonsod rial exquisite on Third, at Dahl's old stand.e He is at least scienced at shaving, but is no e t. money shark. is READY FOR THE HOLIDAYS.-LeDuc has all th fixings for the pleasant days shortly to come besides everything else in his line. His notices k speak for themselves. er m -Rey & May have dissolved, and Mr. Rey continues the business, both at the Levee and y Roberts street stands. Mr. R.' well establishS. ned reputation as a merchant. is a sure guaranty that he has a full stock and will dispose of to the satisfaction of customers. e is -Tyson & Co.'s store presents a fine display e of the luxurious, good and substantial things y this life. Their old customers need not expect in to be disappointed upon calling. let them enquire for whatever they may. tHeenan displays the World's Fair today in the Minnesotian, and with his corps of /accommodating clerks, stands ready to display the contents of its shelves to all customers who e may call. This old and well established instie tution' was never more popular than at pred sent. t, ALL RIGHT Again:-Thompson's Reporter of the 12th has the following as a leader: aLAND Ho! Wall street is out of the woods. nThe tide has turned and we are bound up. Exre change on Europe has fallen below a specie at point-gold is on the increase in our Bankse deposits dlitto-accommodations are easily obis tained-shinning on the decline-Stocks are irsing-110 panic among the Banks-all's safe. The bank of Owego is good-no Connecticut nn Bank has failed. The Patchin Bank of Buffalo e has stopped, but its notes are secured. and it is iiour opinion that they will be redeemed in a short time. The Bank of Massillon. Ohio. is it. said to have failed. There may be a few more w failures among railroad sufferers, but the counp try is safe-the Banks with a few exceptions. st are safe. The merchants, all who have kept is out of railroad speculations, are sound. Brokers and bankers, except railroad bond and n stock speculators. are safe. On the whole, nthese United States were never safer. Now for e higher prices-Bank expansions-speculations of -glorious times-plenty of money and plenty tof fun. Have mercy on all croakers and old fogies. n. A WARNING.-A young man named Thomas Lovell was recently killed below Muscatine the bursting of a gun in his hands. The breach pin penetrated his skull. His body was not discovered until next day. hAdvices from Montreal in regard to the trial at of the Mayor and several military officers, who

18. December 5, 1853 Grant County Herald Lancaster, WI

Article from Grant County Herald, December 5, 1853

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THE BANKS. / In answer to a multi tude of inquries about Banks, we would say only two have failed, via the Bank of Massillon, Ohio, and :he Patchin Bank of Buffalo. The many rumors about other Bank are all wrong, and we do not know where there is a decidedly doubtful one The fright, the pressure and the dan ger is over, and there is an easy and prosperous future before us. There is no premium on Gold, and we fill all orders for New Silver, at one half per cent. Panic-makers' occupation's gone-have mercy oncroakers.-[Thomson's Re porter.