17709. Sandusky City Bank (Sandusky, OH)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 1, 1854*
Location
Sandusky, Ohio (41.449, -82.708)

Metadata

Model
gpt-5-mini
Short Digest
da28bc23

Response Measures

None

Description

Contemporary newspapers (Nov 1854) list the Sandusky City Bank among suspended/failed Western banks. No article describes a depositor run on this specific bank or a subsequent reopening; therefore classified as a suspension with permanent closure. Date taken from Nov 1854 newspaper reports. 'State' chosen for bank_type as 'City Bank' is likely a state-chartered institution; if uncertain, could be 'unknown'. No explicit receivership text found in the provided excerpts.

Events (1)

1. November 1, 1854* Suspension
Cause
Macro News
Cause Details
Part of a broader wave of pressure and suspensions among Western/Ohio banks in November 1854; widespread bank distress rather than a bank-specific scandal or a discrete rumor.
Newspaper Excerpt
the Sandnsky City Bank, Ohio; ... the Sandusky City Bank
Source
newspapers

Newspaper Articles (2)

Article from The Perrysburg Journal, November 11, 1854

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Article Text

THE PERRYSBURG JOURNAL. that naturalization A writer in the Cincinnati Gazette says he on with unexamhas been over the states of Indiana, Kentucto the bureaus ky, Illinois, Missouri, &c., and he finds the crowded from 9 in the number of hogs at least 20 per cent. larger No less afternoon. than last year; that there is an increase of a million and a half; and in view of these the last two weeks, the honors of Amerfacts, he thinks packers cannot afford to pay over $3 per hundred for pork. The Gazette of Monday says that five or times at six packers would commence operations that county officers enday. Hogs were freely offered at $4 per 100 duties, are thus nett, but nobody bought at that price. The U.S. Circuit Court at Columbus Ionday in February. londay in February. has decided the Ohio tax law taxing banks November. in in a manner different from that provided in he qualifies. their charters, is unconstitutional and void. in November. Wm. S. O'Brien is now in Italy, John that paper collars for Martin is in Paris, and Dougherty is on his oming into fashion. way to New York. These are the pardoned sworn off wearIrish exiles. John A. Westervelt, the present mayor of embly at Quebec. on New York, has failed for a large amount.bill to prohibit Like most of unfortunate men he has pubof intoxicating lilished a statement of his affairs, and claims a reading by vote of surplus of $150,000 after paying his debts. CINCINNATI, Nov. 9.-Ellis & Sturgis and should be like roast S. P. Goodman & Co., bankers, have made dressed. Somebody assignments. There is no run on other bankand without sauce." ers, but a large number of people are assemsays that the Norbled around the doors of the suspended parto find out that kings ties. Mr. Badely, clerk in the banking house that could be leof S. W. Torrey & Co., has absconded with $50,000 or more, the amount is not correctly known. writer in the Triof ten mistakes made Information has just been received here vreck of the Arctic; that the following banks are discredited and nautical matters, have failed: City Bank of Cleveland, Canal being satisfied that Bank of Cleveland, Sandusky City Bank.nsurable, Capt. L. is Reports are in circulation that the Clinton degree of presence Bank of Columbus has failed. We have just caution on his part, inquired of a gentleman who left Columbus and all on board. yesterday, but he had not heard there any such rumor.-[Toledo Blade of Thursday. as far as receivBLACKWOOD.-This staunch old Magazine Seymour, dem., is run in between has again made its appearance. Among its excellencies, we note, Speculations among Know Nothing. ticket is believed the stars," continued, The Census," Ninanti-Nebraska deleveh and Babylon," Spanish Politics and Cuban Perils," &c.-[Ib. NEW JERSRY.-Despatches state that four Democrat interroanti-Nebraska congressmen have been electmemory. He wished from this state. of selling to his ILLINOIS.-All the anti-Nebraska candidthings, the " name ates for congress and the legislature elected, (successor to the as far as heard from. Seven congressional districts, 7 senatorial and 25 representative As our memory districts reported. obliged to say that editor of the DemMICHIGAN.--Decidedly anti-Nebraska as far as heard from. Bingham doubtless electrecollect, not only ed governor over Barry. He recollects that BANK OF CIRLEVILLE.-This bank has susmore ems for the pended payment. It is one of the old line any other paper on banks, and not connected with the indepenpublished a lecture dent or state bank and branches. The State immorality and imJournal thinks there can be no great loss on the bills. Just before shutting up shop, the lottery schemes. As following despatch was sent to Cincinnati of his memory BANK OF CIRCLEVILE, be admitted that Nov. 6, 1854. rdinary and prolific Mr. Editor,-The course pursued towards our notes, by the bankers of Cincinnati, Chifirst number of the cago and Cleveland, will drive us into a suspension. We have not a single dollar in it would be the succirculation but what we are able to pay.Reveille and PerThere was no just cause for their actions.were our propThe best bank in the Union may be forced into liquidation by such a course. printing materials H. K. LAWRENCE. Cashier. they were inclua perfect right to Gen. Cass made a speech to the democraThat the Revcy at Detroit, on Saturday evening, in which he commented on the attack upon him by that the Star was


Article from The National Era, November 23, 1854

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Article Text

NEWS OF THE WEEK. The Western Banks. The Cincinnati Commercial states that, in consequence of the pressure, the City Bank of Columbus, Ohio, has been forced to suspend payments of its deposites. The notes of the Bank of Kanawha sold at 25 per cent. discount; Bank of Circleville, at 50; Kentucky Trust Company, at 70; and Newport Safety Fund, at 80. The notes of the Clinton Bank of Columbus were again refused at Cincinnati on Saturday. Indiana stock notes are selling at 25 to 30c. discount. A note from the Treasurer of the State of Ohio states that the notes of the Miami Valley Bank, Canal Bank of Cleveland, Savings Bank of Cincinnati, City Bank of Columbus, and all other Ohio Stock Banks, will be received for taxes and all other public dues, as heretofore. These notes are abundantly secured by the pledge of Ohio and United States stock in the offices of the Auditor and Treasurer of State, which stocks are still commanding a premium in New York. No bill-holder, he adds, need necessarily lose anything by Ohio stock paper. For the sake of keeping our readers posted, we extract the following list of suspended Western banks, from Thompson's Reporter, of Nov. 18: The Union Bank, Chicago, Ill.; the Bank of Napierville, Napierville, Ill.; the City Bank of Chicago, III.; the Merchants and Mechanics' Bank, of Chicago, Ill.; and the Farmers' Bank of Chicago, are said to have failed; also, the Mechanics and Traders' Branch of the State Bank of Ohio, Cincinnati, Ohio; the Sandnsky City Bank, Ohio; the Farmers' Joint Stock Banking Company, Toronto, Canada; the Bank of Circleville, Ohio; the Exchange Bank, Buffalo, N. Y.; the Canal Bank, Cleveland, Ohio; the City Bank of Columbus, Ohio. Seven more Indiana Banks are under protest, viz: Wayne Bank, Logansport; State Stock Bank of Indiana, Peru; Upper Wabash Bank, Wabash; Perry County Bank, Cannelton; Steuben County Bank, Angola; Traders' Bank, Terre Haute; Great Western Bank, Terre Haute. It is proper to add that a number of merchants of the city of Chicago, Illinois, have agreed to receive at par the bills of the banks of that city, which has had a good effect, but the excitement nevertheless continues, as the holders want specie, not goods, for their bills. The Union Bank of Chicago was owned by Forrest Brothers, and the City Bank, owned by Bradley, Curtis, & Co. The failure of the Mechanics' and Traders' Bank of Cincinnati is not of much importance. It has been in process of closing its business for some time past, under the supervision of the board of control. Its capital in August last was only $60,000, and its circulation $47,339. The deposits and circulation are paid without interruption.