17777. Urbana Banking Company (Urbana, OH)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
February 10, 1842
Location
Urbana, Ohio (40.108, -83.752)

Metadata

Model
gpt-5-mini
Short Digest
71ae93f6

Response Measures

Accommodated withdrawals, Full suspension

Other: Bank made assignment and entered receivership; later receiver paid small dividends.

Description

Newspaper coverage in Feb 1842 describes heavy withdrawals/run and refusal to redeem brokers' presentations; bank was reported to have suspended/assigned up and later had its charter repealed and a receiver appointed. Receiver paid dividends in 1843. Cause of initial run described as circulating rumors/suspicions about solvency (panic around mandatory resumption law). No reopening — bank wound up under a receiver.

Events (4)
1. February 10, 1842 Run
Cause
Rumor Or Misinformation
Cause Details
Public rumors and widespread suspicion about the Urbana Bank's solvency amid pressure from the state's resumption law led brokers and depositors to present notes for redemption and heavy withdrawals.
Measures
Bank anticipated a run and 'determined upon this course' of refusing large broker redemptions; continued to redeem paper as presented to ordinary holders while preparing to wind up business.
Newspaper Excerpt
Letters from Cincinnati describe that city in state of the highest excitement in relation to banking affairs on the instant- heavy run was kept up on the Urbana Bank.
Source
newspapers
2. February 11, 1842 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank appears unable to meet all liabilities amid heavy withdrawals and general insolvency; reports of assignment and suspension of payments and later repeal of charter indicate bank-specific insolvency rather than a temporary isolated hoax.
Newspaper Excerpt
The Ohio Freeman of the 5th inst. states that the Urbana Bank has suspended payment.
Source
newspapers
3. February 22, 1842 Receivership
Newspaper Excerpt
The Urbana Bank has made an assignment. ... The charter of the Urbana Bank has been repealed. ... A Receiver will be appointed on the second Tuesday in March. It is supposed that Mr. Robinson, the President, will be appointed, in which case there is reason to believe that the deposites and circulation will be paid off by the 1st June next. The Urbana Bank has made an assignment. The resumption bill ... The charter of the Urbana Bank has been repealed. The Urbana Bank has made an assignment (Feb 22 Tribune).
Source
newspapers
4. December 15, 1843 Other
Newspaper Excerpt
The Receiver of the Urbana Bank, Ohio, is paying a dividend of nine per cent. on its notes.
Source
newspapers

Newspaper Articles (22)
1. February 3, 1842 The Ohio Democrat New Philadelphia, OH
Article from The Ohio Democrat, February 3, 1842

Click image to open full size in new tab

Article Text

URBANA BANK-PUTTING THE SCREWS. It is stated that the managers of this Bank threaten to put the screws to all their debtors, in case they have to go into liquidation. A writer in the Statesman who hails from Champaign/county, tells them to go ahead, for they have none to-sue but their own party. This will no doubt be the policy of all the swindling corporations. They have kept up a suspension for 5 years-lent their notes out-shipped the specie to Eng. land that they should have redeemed their trash with, and now when forced into resumption by a Democratic legislature, they will put the screws to their debtors, and manufacture a "Distress" to suit their purposes, But let them go ahead, if their own party can stand it. the Democracy will not flinch; and such a course will only enlighten the great mass as to the danger, of ever granting any more privileges to the money power. It is high time to cut them down, if we wish for the prosperity of mankind, or the perpetuity of our free institutions.

2. February 10, 1842 New-York Tribune New York, NY
Article from New-York Tribune, February 10, 1842

Click image to open full size in new tab

Article Text

95 Asa Whitney Jonas Earll, Jr 91 S. Newton Dexter James Hooker. David Hudson. David Bisseil .92 George H. Boughton Benjamin EROS. 192/Samuel B. Ruggles: George W Little .92 Henry Hamilton Stephen Clark Whereupon the candidates agreed upon by the Loco-Foco Members in Caucus were all duly elected. The bill repealing those sections of Anact to prevent Illegal Voting* &c. require a Registration of Voters has passed the Assembly. The Senate. by a party vote, has refused to adjourn on the 31st of March. VIRGINIA Democratic State Convention was held last week at Richmond, Va. The Address that the of Specie to the next Payments near proposes by meeting the Banks of of the Resumption that State Legislature-in be postponed December ! Ex-Congressmen Dromgoole and Gen. T. H. Bayly, two eminent Sub-Treasury champions-the latter turned Loco-Foco from pure love to the Hard Money policy-were prominent advocates of this indefinite postponement. Gen. Bayly stated, during a recent debate on the Retaliatory Law of the last Legislature imposing certain onoreus and vexatious restrictions on the ships and commerce of this State, that a correspondence had been carried on with certain Loco-Focos of this State, who had excused their party from attempting to overrule Gov. Seward's course in regard to Virginia's claim of alleged fugitives from justice, on the pretext that Gov. S. would not heed were to pass any. We presume their resolutions they dread will of if also the they be Governor's restrained, by a corresponding Veto, from repealing the law granting Trial by Jury to persons charged with owing themselves to other people. The verb to shuffle' is destined to be conjugated through all its moods and tenses by our new masters at Albany this winter. DR. LARDNER'S LECTURE.-The Lecture of Dr. Lardner at the Park Theatre last evening was remarkably well attended, and was, as all of hix been, highly interesting and instructive. Its main subject was the Planets, and its prominent features*were, of course, essentially the same as those of his_former lecture on the same topic, which we have already published. But its order. language and illustrations were SO different as to make it entirely a different discourse He brought forward several very beautiful and striking illustrations of the method of estimating the distances, magnitudes and weights of the several bodies of the Solar System, and alluded in a very interesting manner to the wonderful discoveries of LINNEUS, fortified by the investigations of DECANDOLLE, that flowers have cycles corresponding precisely with the alternation of day and night, closing and opening unvaryingly as the Earth turns upon its axis. Several of his finest transparencies were likewise exhibited. OHIO.-A letter from our corre-pondent at Columbus, (which we cannot make room for this morning, announces the passage of the Senate's Bank Resumption bill on its third reading in the House by a vote of 38 to 30-one Whig voting with the majority. The Whigs proposed and urged a Gradual Resumption, commencing on small notes in in August. May, and becoming overruled. complete and July and but were our friend the most violent from the deconsequences apprehends sudden disastrous contraction and and struction of Currency which must ensue. Let us wait and see. Our friend announces the utter failure of the Granville Bank, of which the notes are now selling for fifty per cent. in goods. It had redcemed $130,000 of its notes before it gave up the ghost. The Urbana Bank was under strong suspicion, and in the state of feeling which prevails, was certain to go by the board, if it had not already done 30. All is confusion, panic and terror. K Mr. Bradford's Oration last evening at the Broadway House on occasion of the Anniversary of the Birth of General Harrison, was a chaste and beautifully written eulogy on the character and services of the eminently distinguished subject of his discourse. Mr. B. very succinctly sketched the Revolutionary services and ran rapidly through the career down of a subsequent to the period public his of death. General enchaining Harrison, crowded audience for above an hour. A mere incidental allusion to the great Harry of the West produced a spontaneous three times three, with most deafening applause. The Oration was preceded and followed by patriotic edes composed for the occasion. and sung by an efficient choir. IG Mr. B. JESUP. the excellent host of the Pacific Hotel, writes us to state. in reference to a communication in our last, that his Hotel is in no sense a political one, but that men of all parties are alike welcome and alike well treated. Of course they are-no one could understand his jocular eulogist differently. K A Public Meeting of Scotchmen and others sympathising with the terrible destitution of the suffering poor of Paisley and other manufacturing towns of Scotland, will be held at the Society Library this evening. We trust there will be a generous attendance. As EXPRESS.-A Wisconsineditor acknowledge es the receipt of Congressional documents .. in ad vance of the mail" in consequence of a flock of wolves chasing the post-rider across the prairies.

3. February 10, 1842 The New York Herald New York, NY
Article from The New York Herald, February 10, 1842

Click image to open full size in new tab

Article Text

294,618 Speaie, $4,982.45 This is melancholy picture for an institution that short time since was one of the best in Philadelphia In the relation to the State deposites the report has the following The efforts made by this Bank to prepare for the pay. ment the interest and to sustain itself under the most pressure hich came upon it, will be seen'from the following ements The amount of interest to be paid on the first of Februry was $864,410 64; and the premium on currency for specie. The Treasurer of the State had caused to be placed to credit of the in this Bank. the first 1841, and the 31st January 1842, sum about different received This at times, in different partly in checks on various its Banks and this on and Harris in neigh place burg and Easton. the principal part of which was paid and checks on the Girard Bank. large these received. amount were notes six hunbeing dred thousand upwards, that thought expedient out to depositors and others freely possible, order diminish the amount. The deposites of the been of all treated special character, and other general deposites have been. By this the circulation and deposites of this Bank were greatly reduced. The Bank being then undoubted in fully expected that its own notes, then as they been, ceived in the until and the the Bank twenty January, tne doubt the payment of the It their belief, that if that pressure, previous preparation could difto resist, had not taken place, no ficulty would existed in making that payment. it show the character and extent of this pressure is stated. on the three consecutive days, the 27th, of January, the Bank paid of its Deposites, $406,9S6 And of its notes 60,692 $466,778 Over and above its receipts, The following is an extract from the message of Go vernor Porter of Pennsylvania, in relation to the State interest Late on the evening of the 1st February a successf arrangement by which have reason to be. lieve the payment the interest due now been com menced be completed as soon as the funds can for the purpose. This arrangement consists in application of the available funds of the Bank of Pennsyl Ivania, $116,000 Foreign Bills of Exchange, of the value of Specie, 234 000 150,000 receivable and soon available, And the proceeds requisition made upon the other banks, which will be to pay the balance fthe interest due, the whole of which will assuredly met in the course or three weeks. The State himself assistants. will the Treasurer make by pay ments of interest at the bank, or at the Treasury Letters from Cincinnati describe that city in state of the highest excitement in relation to banking affairs on the instant- heavy run was kept up on the Urbana Bank. The known rottencess of all the banks, added to the approaching day fixed for resumption, March 4th, renders the populace anxious to get rid of as much bank paper possible. a The Bank of Montreal has given assurance by formal vote, that it is responsible for the issues of the Bank of the People. me In the State Assembly Mr. Townsend presented morial of the New York Banks, charging the Bank Com. missioners with mal conduct, in permitting the Safety Fund to be wasted, and demanding Legislative investigation. This is a most admirable movement. The Commissioners are appointed to protect the public from the misconduct ef the banks, and to keep a watch over the banks, to close them up when they are going wrong, before their capitals are sunk, in order to prevent loss to the safety-fund, and thereby inflicting loss upon the well managed banks: Instead of performing this duty, however, they have not only allowed bank after bank to explode, after sinking their whole capitals, but also the whole Safety Fund, and leaving an unprovided for balance of $400,000,!for which the sound banks are to be taxed for years to come. At the same.moment Mr. Chandler Starr took it upon himself to publish a card censuring this paper for cautioning the public against those banks, which he should, in the discharge of his duty have previously wound up. This is an important matter and well worthy the scrutiny of the Legislature. It will be remembered. that on the first of January, the interest of the State of Arkansas on its debt was not paid The interest is ayable by the Real Estate Bank, and the State Bank .in whose behalf the bonds were issued. The Real Estate Bank, sent forward to meet its share of the interest, some of its assets maturing in this city in May and June. These were to have been discounted by the Phonix bank where the interest is payable,bnt owing to the pressure in the market,that institution was unable do so, and the interest remained unpaid. The State Bank having some difficulty in raising money did notremit until the time had gone by. Within a few days, how ever specie has arrived to meet part of the interest. of the bonds issued to the Real Estate Bank of Arkansa $500,000 were, will be remembered, pothecated by the commissioners, Messrs. Harris and Briscoe, to the North American Trust and Banking Company of this city and by them sold to Mesars. Holford, Brancker & Co Subsequently, in consequence of the failure of the North American Trust & Banking Company on its part of the contract, Messrs. Harris & Briscoe declared t contract void, and the question of repudiation has been raised in Arkansas. One party contends, that although the Real Estate Bank pledged the bonds in violation of the law, that Messrs. Holford, Brancker & Co. are theinnocent purchasers, and the State is bound to pay the bonds according to their face. The following is an extract from the Little Rock Times & Advocate on the subject Repullation, representative in Congress, Judge Cross, the honest and just any party where, except cases of fraud and manifest violation of law and moral right. We agree with him, and contend that there violation either moral right" in the purchase of the bonds by the North American Trust Company of of flaw and moral right' is the part Estate Bank in the bonds con of meral violation towards right' security on the and bound bank does might the se note refuse individual pay that curity note, had been fourth of face, the refuse bonds because the banksold them for their thon less The following,is a letter.from GovernorY ell of Arkan. sas gentleman in this city in relation to the para graph here quoted: Rock Jan. 19. 1942 This from the organ of one of the political parties in the state, (whig). They may up bond and anti-bond Jatter answer the your to my of party 10th November last. and shall have respectreply soon. The world seems topsey turvey YEL A. Yours, The question of paying or not paying, with the western States, is not one of will, but of ability; which ability may be tested very nearly by a comparison of the resources of each state with the State of New York, which state finds it almost impossible to raise money to meet its liabilities. We recently gave the report of the committee of ways and means of the State of Indiana, in which they avow their inability to meet the demands upon the state. From the resent returns of the census statistics of the United States, we come at the actual resources of each state. In estimating the value of the products we must take into consideration that the grains and other produce of the west, are of much less money value to the producers who have to pay the taxes. than to those of the Atlantic states. For instance, the price of wheat in New York is 1 25; at the west it varies from

4. February 10, 1842 The Ohio Democrat New Philadelphia, OH
Article from The Ohio Democrat, February 10, 1842

Click image to open full size in new tab

Article Text

From the Statesman, Feb. 5. URBANA BANK-GONE TO THE GALLIPOLIS REGIONS. This Bank is announced as 3 total wreck-next in iniquity and rottenness to the Gallipolis. It does not pretend to pay any thing for its notes, as we are told by a person just from there. The rotten concern ought to have blown up last-fall, when we announced its in' solvency: This Bank was the great sanctum sancto. rum, where Joseph Vance learned his expansion and contraction" financial theories-the open and shut sys tem-but alas it has shut for good. This is the bank that furnished the whigs a glorious fivo cent shinplaster currency during the first suspension -and lately it Biddleized in Mad River Rail Road orders. In fine, it was the ne plus ultid of Ohio Whig. gery, always furnishing whig stumpers at elections. The loss to the public must be enormous, as its cir< culation was over four hundred thousand dollars. And this was to be one of the leading branches of Nye's sow and pige. Great is the glory of whiggery-great the Goddess Diana of the "Greeks," if not of the Ephesians.

5. February 11, 1842 Carroll Free Press Carrollton, OH
Article from Carroll Free Press, February 11, 1842

Click image to open full size in new tab

Article Text

as The Ohio Freeman of the 5th inst. states that the Urbana Bank has suspended payment. The Ohio State Journal of the same date does not notice this failure.

6. February 15, 1842 New-York Tribune New York, NY
Article from New-York Tribune, February 15, 1842

Click image to open full size in new tab

Article Text

# SECOND BOARD. 1,000 Illinois.... 18 4,000 do..s 10 days 20 1,000 Indianas8 days 19 8,000 do... Thursday 19 2,000 do.... 19 2,000 dob 3 days 19 There has not been much change in Inland Bills. We quote- Philadelphia 7 a 71; Baltimore 3 a 31: Virginia 9 a 94; N. Carolina 5 a 51: Charleston 11 a 14; Savannah 24 a 2; Au- gusta 24 a 24; Macon 14; Columbus 15: Mobile 12 a 123: Montgomery 131; New-Orleans 6 a 61; Nashville 14 a 15; Louisville 9 a 10; Cincinnati a 16; Indiana 15 a 19; Illi- nois 25. We see by an advertisement that R. M. Blatchford, Esq. Receiver of the Commercial Bank, instead of paying thirty per cent dividend to the creditors of that institution to-day will to-morrow pay forty-four per cent. When will Gov. Marcy be prepared to pay a dividend to the creditors of the City Bank of Buffalo? He was appointed receiver some two years since and nothing has been heard of him since. The Express of yesterday says: The new Comptroller, Mr. Flagg, has sent a letter to the several banks of this city to whom the State of New-York is indebted, stating that the temporary loan borrowed of the banks, amounting to one million two hundred and five thousand dollars, and due on the 1st of March, will not be paid until the Comptrolier can raise money on new stocks, which are authorized to be issued. This is the first act of the new Comptroller, and a most se- rious one it is. The banks hereafter will be exceedingly cautious how they lend money even to the great and power- ful State of New-York, when it is in the hands of those who pay so little regard to its obligations. The Assembly of New-Jersey have passed the bill requir- ing the Banks to pay specie for $5 notes and under on the 4th of July next, and for all notes on the 1st October. The bill which passed the Council requires all notes to be paid in specie on the 4th of July. Should the Philadelphia Banks resume before the 1st October, the West Jersey Banks are required by the Assembly to do so also. The Cincinnati Gazette of the 3d says: 'The excitement among the people has become distressing. Whatever notes are held, they send to the broker's office to sell-the discount is not considered-what one sells another will buy. The banks yesterday determined, that if required to pay specie on the 4th of March, they must begin to prepare to protect themselves. They have determined that they would not that day receive the following notes-Urbana Bank, Com- mercial Bank of Lake Erie, Bank of Cleveland, Merchants' and Mechanics' Bank of Wheeling.' It has been stated that the Chillicothe Bank owned $75,- 000 of the stock of the Gerard Bank. This is now denied. The Chillicothe Gazette states that there are no rumors there to the discredit of that or the Lancaster Bank.

7. February 18, 1842 Carroll Free Press Carrollton, OH
Article from Carroll Free Press, February 18, 1842

Click image to open full size in new tab

Article Text

From the Urbana Citizen Fib 8,1842, URBANA BANK. Some little excitement has prevailed in this community for a few days pas:, in reference to this institution. Rumors as to its solvency have been in circulation. at a distance, for some. time This, of course, hashad a tendencv to depreciate its paper, and the brokers have bought it up at a discount. Several of these gen. tlemen have, within a few days, present. ed large amounts of the paper for redemption, and have been refused. The Bank, we understand, anticipated a run, and determined upon this course, and as far 88 we can learn,all other demands made upon them have been promptly met. The bank has been for sometime past preparing in wind up its business, and will continue to do so, 88 fast As possible. We know nothing about the condition of the bank, and of course can say noth. ing about it; but presume it 18 in the same condition of most of the other banks of the state-unable to redeem all its issues in a day or a month. This much we can say, however, that the bank is still on terra firma, and continues to redeem its paperas presented, except from brokers, and others whom they have reaB in to believe have been speculating upon it.

8. February 22, 1842 New-York Tribune New York, NY
Article from New-York Tribune, February 22, 1842

Click image to open full size in new tab

Article Text

SECOND BOARD. 2,000 Indiana...b 3 day 19 2,000 do 96 1,000 do 19 There have been some sales of Francs to-day at 5.281. In sterling there is very little doing. The leading rate is 8 a 31. On Amsterdam 391 a 40: Bremen 76 a 77: Hamburg 35, a 35. There is a slight decline in the rates on Philadelphia and N. Orleans. On Illinois the rate is worse. We quote Phila- delphia 5a 51: Baltimore sa 3, Virginia 75 a 81: Mobile 14 a 154; New-Orleans 65 a 6: Cincinnati 13, St. Louis 17: Louisville 9. For the stock of the Lafavette Bank 15 was offered to-day It is privately stated that the bills of this Bank will be re- deemed in 90 days. The Brokers are buying at about 8 per cent, discount. The Bank of Cleveland, as well as the Commercial Bank of Lake Erie, are paying off their depositors and winding up their conceres. The circulation of the Banks of Baltimore on the 17th was $894,000; specie on hand $2.200,000. A bill has been reported in the Pennsylvania Legislature to annul the charter of the Bank of Chambersburg. Nothing decisive has yet been done in the Legislature on the subject of resumption. The moderate men of both parties think the Ist of August early enough. The resumption bill is still under consideration in the Ma- ryland Legislature. Several large failures have taken place in Philadelphia; among them the firm of Charles Davidson & Son and J. F. Ohl. Some failures, we understand, had also occurred in Boston. The Citizens Bank of N. Orleans has again suspended specie payment. Since the passage of the resumption act many of the Banks, among them the Bank of Louisiana, de- cline deposits except in geld and silver, and are preparing to wind up. The Banks of Tennessee are to resume on the 1st January next. The bill forcing the Banks of Ohio to resume on the 4th March has passed the Senate. The Banks are about to hold a Convention at Columbus. The notes of the Bank of Cleveland are discredited at Cincinnati. The Urbana Bank has made an assignment. The resumption bill recently passed by the Legislature of Louisiana requires that the Banks, after the S0th Sept., 1842, shall pay their liabilities in specie, and upon refusal to pay, the protest of the Notary shall constitute the forfeiture of the charter of the Bank. All the parties to commercial paper, which is not paid at maturity, are to be reported to all the Banks, and no discounts made to them until such paper is full. A Board of Currency is appointed, witk full powers of supervision, &c. The Banks are required to make weekly reports to this Board, and the Board are tu make an annual report to the Legislature. No commercial paper is to be discounted having over 90 days to run and no renewal al- lowed. The account of any person asking such renewal is to be closed with the Bank and notice given to all the other Banks. Any Director absenting himself from the State thirty days, or failing to appear at five consecutive meet- ings of the Board, is to be considered as having resigned. The act also regulating the loans and discounts at the Banks, and the terms upon which the 'dead weight' or extended debt may be settled. The Banks are allowed to issue notes payable 30th September, to twice the amount of the specie on hand, provided an equal amount of Louisiana State Bonds, or bonds and mortgages with twenty per cent ex- cess shall be deposited as security with the Board of Cur- rency. The above notes shall be received by all the Banks. The act provides for placing Banks in liquidation, and re- quires Banks not in liquidation to receive at par, in payment of debts, the bills of such Banks, which are to be distributed according to the circulation of the Banks not in liquidation, and the cash assets of the liquidating Banks are to be distri- buted in like proportion. Eight per cent interest to be charged on bills so received, and they to be secured by oth- er assets of the Bank. Banks are required to accept this act within twenty-five days, or the Attorney General must sue for the forfeiture of the charter, and if he does not within ten days the Government is authorised to declare his place vacant and appoint another. The Banks after thirty days are forbidden to pay out asy but their own notes and are required to pay balances weekly in specie. ### New-York Market. ASHES-Between 50 and 60 barrels Pots have been taken by the principal holder in the market 6371. In Pearls we hear of no transactions. They are held at 575; but could be bought at a lower rate. COTTON-The market is very quiet in anticipation of the arrival of the steamer. FLOUR-The market continues exceedingly heavy, and the operations are too tritling for report. The large holders generally demand 625 for Genesee, but this price is obtained only for small parcels. Sales Rochester are reported as low as 6 124. We quote New-Orleans at 6 60: Ohio 6124: Troy 661a 6 121. Sales 800 barrels-some Western at 475. No important sales Southern; but 2,000 barrels Georgetown for England are in negotiation. We quote Georgetown and Howard st. 6.00; Brandywine 600; Alexandria and Fred- ericksburgh 5 75 a 6.00. Sales 50 hhds, Brandywine Corn Meal at 15.00,4 mos. to arrive. GRAIN-The market is very quiet. No Wheat yet offer- ing. No sales Rye. The parcel Northern is yet unsold.- No such sale as reported in the Journal of Commerce has been made. Corn is dull. A cargo Southern, afloat, unsold. Sales 8,000 bushels Southern Oats at 464 a 47. ### New-York Cattle Market. [Reported for The Tribune.l

9. February 28, 1842 New-York Tribune New York, NY
Article from New-York Tribune, February 28, 1842

Click image to open full size in new tab

Article Text

The Lajayette Bank is authorized to receive its notes for any debts due it. A Receiver will be appointed on the second Tuesday in March. It is supposed that Mr. Robinson, the President, will be appointed, in which case there is reason to believe that the deposites and circulation will be paid off by the 1st June next. It is the opinion of those well informed on the subject, yet disinterested, that the stockholders will eventually receive about 33j per cent. Twenty-two of the Ohio Banks have resolved to resume on the 4th March next, as required by the act. The Commercial Bank of Scioto was one. The Franklin Bank of Columbus did not agree. Its bills are thrown out by the Cincinnati Banks. The charter of the Urbana Bank has been repealed. The Lancaster Bank is paying its notes, one-fourth in specie and three-fourths in certificates, currency or drafts. The following are the Banks which have resolved to resuine on the 4th of March The Franklin, Lafayette and Commercial Banks of Cincinnati; Banks of Dayton, Xenia, Scioto, Circleville, Marietta, Muskingum, Zanesville, Massillon, Sandusky, Wooster, St. Clairsville, Norwalk, Geauga, Western Reserve. New Lisbon, Mount Pleasant, Clinton of Columbus, and Farmers' and Mechanics' of Stenhensille

10. March 1, 1842 Democratic Standard Georgetown, OH
Article from Democratic Standard, March 1, 1842

Click image to open full size in new tab

Article Text

MORE OF THE GOOD EFFECTS. We learn on unquestionable authority, thatsince the prospect of resumption has taken place in Ohio, the large Canadian purchasers of wheat, have resolved to pay nothing in future to our farmers, but GOLD AND SILVER. Heretofore these wheat buyers sold their specie, or specie drafts, to the Ohio Banks, and paid the paper for wheat. The worse the bank, the higher the premium, while the people bore the whole loss. Let the people of Ohio cheer up-we assure them, that a brighter day is not very for distant-so soon as the business of the country is wrested from bank speculators, all will be well, and good money will flow into our State from all quarters. The crisis will soon be passed-the worst is even now over, we verily believe, as we have it pretty direct that 20, if not 23 of our banks will resume specie payments on the 4th of March, and exchange is about being reduced by these banks at once, to from 1 to 3 per cent on New York, instead of 15 10 20 as now charged. This will be a saving to the people of Ohio, the ensuing year, in exchanges alone, of more than a million of dollars. The people in a few days will be clear of the curse of suspended Banks, as all that are rotten must die, and until they are out of the way, business cannot revive, We announced yesterday, that the Chillicothe Bank had gone into liquidation and today we learn that the Cleveland Bank, long motorious for its rotten. ness, has exploded, a la mode, GALLIPOLIS and URBANA. / Statesman.

11. March 1, 1842 New-York Tribune New York, NY
Article from New-York Tribune, March 1, 1842

Click image to open full size in new tab

Article Text

Important from Obio-The and winding Resumption Law-Banks assigning up-No.Money State and Gloomy Convention-COR Prospects Great WIN nominated-His Whig Election sure. Correspondence of The Tribune. O., The bill became a law a week since. Resumption COLUMBUS. Feb.21,1342 The Loco-Foc finally succeeded in keeping their men up to the rack on the question of fixing the 4th of March for forcing the Banks into Resuming on all their liabilities, although two or three of them in the Senate were inclined to adoptmildmeasures. Don't understand me as representer ing the Whigs of this State as forming all anti-Resumption party. There is not one Whig in the Legislature in favor of continuing the state of things which ha- existed so long. one day longer than is indispensably necessary to save the Banks from certain destruction. They all voted for graduated Resumption-to begin in May and pay on every thing by August or September. Two or three of in the Senate. where their majorto 17-proposed in vote ity the is Loco-Foco: two-19 with of the the entire Whig force in favor ef a modification bill passed in the House, but the Whigs declined any arrangement that did not embrace the condition that the proposition to be substituted for the bill should receive as many Loco-Foco as Whig votes. The Loco-Focos caucused on the subject two night< into the ** small hours." but the Radicals. who are bent on real Bank destruction. defeated the scheme, and the Whigscompelled them to shoulder the whole responsibility of a measure which every one foresees is to be attended with the most disastrous consequences. In the mean time the agitation of the subject has precipitated the results anticipated in a good number of instances. The Banks are yielding to the storm all over the State. The Granville Bank shut its doors first, after faithful efforts to meet its engagen up ants. The Urbana Bank went by the board next. These two Banks had out a circulation of nearly half a million, which was instantly depreciated one half! Think of that. ye NewYorkers, who used to grumble over a discount of one half of one per cent. on country paper About the same time the Chilicothe Bank nssigned, but there is I presume no danger or apprehension of loss here. The Bank was in admirable condition until it maden loan of $400,000 or $500,000 to the State. Next. the Hamilton The Bank, near Cincinnati, assigned its effects. Lancaster Bank, a heavy concern. has also assigned. and to-day it is reported that the Bank at Marietta has taken the same course. To the number thus breaking up are to be added both the Banks at Cleveland. The consequences of all this derangement and confusion are seen in the almost There total inspension of all kinds of business. is no money in circulation, except the notes of insolvent Banks, shinplaster and the orders of Turnpike and Railroad companies. The latter have a local circulation, and in some instances are considered the best kind of money to be obtained. Under these circumstances, a Convention of Delegates from nineteen Banks has just been held in this city. You will see the proceedings in our city papers, but the plan proposed to meet the crisis is to make the attempt to redeem their liabilities according to the provisions of the Resumption law, and to davise a system of making frequent settlements between them selves by sending their paper to this city to be exchanged and retired from cirThere are few who have any faith in this some ten or twelve of the culation. plan, though for Banks time which have kept up no circulation some past will be able to weather the point, with or without such arrangement. But I think you can safely calculate upon al influx of about one million of specie, to be drained from Ohio within the next ninety days. To-morrow. you will recollect, is the day for our State Convention to nominate a Governor. The city is full of Delegates to-night, who are quartered upon our citizens generally. I have conversed with many of them. who all repthe condition of the Whig party as resenting unite in being all that we can desire. They all concur in saying that the people are universally diagusted with the Loco-Foco Legislation of the winter, and that examples faith of a renunciation of the party are nu- in merous. Several Counties ere named to me. which it is confidently affirmed that the Whig strength will be greater next fall than it was in 1840. Gov. CORWIN has yielded to the solicitations of his friends and will accept the nomination, although he has been anxious to retire from the canvass. This ensures 115 the State beyond any reasonable question. We can elect a majority of and thus secure a Whig Senator in of Allen. I the place Legislature, Earthquake shall not close this letter until to-morrow. TUESDAY, Feb.22 We have just got through with our State ConIt exceeded our most sanguine and has inspired our expectations, vention. greatly friends CORWIN with was the highest degree of enthusiasm. aclamation, and will too. renominated twenty by be elected, His by ton to thousand majority. great and deserved popularity makes him a powerful lender. and the Loco-F ocos are as well satisfied of the doom that awaits them now as they know the result of the contest in 1840 Yours. N. E. Boundary.-Gov. Davis has sent a Mesto the Legislature of Massachusetts with resage ference to the N. E. Boundary question. He thinks propose 11 conventional boundand in that case he wishes to ary, that England may Mussachusetts be prepared for its consideration. and suggests the

12. March 31, 1842 The Ohio Democrat New Philadelphia, OH
Article from The Ohio Democrat, March 31, 1842

Click image to open full size in new tab

Article Text

SPECIE PAYING BANKS. Western Reserve Bank, Farmers and Mechanics Bank Steubenville, Columbiana Bank of New Lisbon, Bank of Mt. Pleasant, Belmont Bank of St. Clairsville, Bank of Marietta " Zanesville, " Muskingum, " Circleville (old) Ohio Life Ins. & Trust Co. Bank of Norwalk, Deyton Benk, Bank of Geauga, " Wooster, " Massillon, Sandusky, Xenia, Franklin Bank of Cincinnati, Lafayette. is " Commercial Commercial Bank of Scioto, Glinton Bank of Columbus, The Columbus Statesman, contains a 'Specie basis Bank Note Table," in which the value of the following suspended andbroken Bank notes, is thus rated: Franklin Bank of Columbus, 18 discount, 20 dis. Bank of Chillicothe, 25 dis: Lancaster Ohio Bank, 50 dis Bank of Hamilton, 50 dis Farmers Bank of Canton, 50 dis Con mercial Bank of Lake Erie, 60 dis Bank of Cleveland, 62 dis Bank of Granville, 75 dis Urbana Banking Co. INDIANA. 10 dis State Bank'& Branches, 50 dis State Scrip, 5s MICHIGAN. 10 dis Bank of St. Clair, Indorsed by Smithe 10 dis

13. April 15, 1842 Carroll Free Press Carrollton, OH
Article from Carroll Free Press, April 15, 1842

Click image to open full size in new tab

Article Text

THE CURRENCY, Notes of the following Ohio banks are known to be good, viz. F. & M. Bank of Steubenville, Ohio Life & Trust, Franklin, Cincinnati, St. Clairsville, Massilon, Mt. Pleasant, New Lisbon, Norwalk, Dayton, W. Reserve, Zanesville, Muskingum, Circleville, H. Lawrance cashier, Geauga, Marietta, Clinton Bank of Columbus. The following banks have resumed specie payments, as well as those above named, and it is believed they will be able to continue redeeming their notes with specie, VIZ. Commercial & Lafayette banks, Cin cinnati, Xenia; Sandusky, Scioto, and Bank of Wooster. Notes of the following banks are more or less current, at from 75 10,874 on the dollar. They remain partially or entire. ,ly suspended, viz. Lancaster, Chilicothe, Franklin Bank of Columbus. Theseare Banks to which the State is largely indebted. The following are broken Banks, the paper of which passes in some of the stores for from 50 to 75 cents on the dol lar, viz. Hamilton, Cleveland, Urbana, Canton, Granville, Illinois (State Bank) also Indi. ana State scrip. Indiana State Bank, Kentucky notes, Virginia and Pennsylvania notes generally, are current at par, that is at currency car, but all 8 to 10 per cent, below.specie. The above statement will be corrected weekly.-Steub. Her, From the Morning Chronicle, April 9 Bank Note List. SPECIE STANDARD Corrected for the Morning Chronicle by SIBBETT & JONES, EXCHANGE BROKERS, South West corner of Wood and Fourth Streets, Pittsburgh, Pa.

14. April 21, 1842 The Ohio Democrat New Philadelphia, OH
Article from The Ohio Democrat, April 21, 1842

Click image to open full size in new tab

Article Text

BROKEN & SUSPENDED BANKS. Farmers Bank of Canton, Franklin Bank of Columbus, Bank of Chillieothe, Com. Bank of Lake Erie, Bank of Cleveland, Lancaster Ohio Bank, Bank of Granville, Bank of Hamilton, Urbana Bank ing Co. The five banks to the left, are broken, and their notes worth. from 25 to 50 cents OII the dollar. The four to the right are suspended, and worth from 70 to 80 cents. The notes of the Indiana State Bank, and Bank of St. Clair, Michigan, endorsed by the Smiths, are still in circulation. But we advise the public to be on their guard Some hard things are being said about these wo banks

15. April 28, 1843 Carroll Free Press Carrollton, OH
Article from Carroll Free Press, April 28, 1843

Click image to open full size in new tab

Article Text

URBANA BANK. We are glad to learn that the various law suits between the Ohio Insurance Company and the Receivers of the Bank, respecting its assets, were compromised at the late term of the Com mon Pleas for Champaign county. The terms, as we understand, are substantially these. The Trustees of the Ohio Insurance Company are 10 turn over to Win Mc Donald all the money and other proper ly which belonged 10 the Bank, in nine. ly days Mr. McDonald gives bonds in $100,000. for his faithful administration of the Trusteeship. He is then to take an accurate account of all the means and liabilities of the Bank, and to make the best estimate he can of the dividend which will be received by its creditors, and to make publication of the same in the Urbana Citizen' He has full authority to collect and compromise all debts due the Bank, and to make sale or exchange of any of its property real or personal. All debts due the Bank are to be payable in il# paper. and any of its properly may be sold for such paper.Mr. McDonald is not authorized to redeem any paper of the Bank except in payment of debts, or for property as aforesaid. He 18 to keep a particular account of all his proceedings, and re port the same to the Court, at each term e when they will be liable to the except in tions of all persons interested Whee a he shall report a sum of money on hand ne the Court shall make such order as the shall think best, for its distribution a d, mong the creditors of the Bank. We think the foregoing arrangement se, every way beneficial to the public. an (es esperially to the creditors of the Bank ie, 01 which the counties of Clark, Cham se

16. April 28, 1843 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, April 28, 1843

Click image to open full size in new tab

Article Text

Commercial and Money Matters. THURSDAY, P. M. The sales to-day at the Board were to fair extent, and geneally at improving prices, although at the close the market rather heavy. Speculation has now carried Stocks up wa point which surprises the most sanguiue operators, and turn any day, away some players at most the tide inexperienced may sweeping that dangerous with it hazard ta- of the Stock Board. 1 cent., up the ble, we again up per Kentucky forced Sixes by the improved operations $ of those Ohio interested in the success of the new loan. Mohawk was cent. Farmers' a concern, town 1 per Stonington Trust, declined worthless improved / percent. Foreign Bills are firm. Sterling 62 7; Francs 5.35 a 5.324 Uncurrent money is very scarce, and the brokers are complaining of 2 dearth of business. Specie is very quiet, and the stock continually accumulating. The quotations are: Value. Per cent. Carolus Dollars 1 03 a 1 05 Amer. Gold, old. 106 a 1062 93 a 95 Five Francs do. do. new. 100 a 1001 16 25 a Doubloons Half Dollars do. Patriot. 55 al5 70 Fortuguese Gold.100 a 1001 4 83 a 4 85 Sovereigns Spanish Dollars. 1024 a 104 do. Light 4 82 a 4 84 do. Quarters 97 a 98 Heavy Guineas 00 a MexicanDollars.100 a 100g 83 a 3 84 Napoleons do. Quarters 97 a 98 The Bank of the State of Georgia has declared dividend of 2per cent. for the last six months. The Secretary of the Treasury advertises Treasury Notes amounting to about $100,000, which had been received at the Custom-House in New-Orleans, and represented to have been mailed for the Department at Washington, after being rancelled, had not been received. The Secretary says some of those notes have found their way into the Custom House, have been paid to receivers of public moneys, bearing my slight indications, if any, of having been cancelled. Nearly all of these notes were issued in 1841 and 1842. Since the reduction of fare on the Western Railroad, the receipts have much increased. Receipts last week were: Passengers $3,513; Freight, Mail, &c. $3,494: total, $7,007. The number of through travelers for the week, ending April 8th, before the reduction of fare, was 174; the number of through travelers for the week ending April 22d, 281: increase 6 per cent. On Monday, April 24th, the through passengers were 122. It is strongly advised in Philadelphia that an agent be sent out to England to place the matter of the sale of the Delaware division of the Pennsylvania Canal before the British capitalists. The Cincinnati Chronicle believes that Ohio will punctually meet all her engagements. The Chronicle also thinks that Cincinpati will come in for a share of the benefits of the issue of a million of dollars by the Kentucky Banks. The various law suits between the Ohio Insurance Company and the Receivers of the Urbana Bank have been compromised. The Trustees of the Ohio Insurance Company are to turn over to Win. McDonald all the money and other property which belonged to the Bank in ninety days. He is then to take an accurate account of all the means and liabilities of the Bank, and to make out an estimate of the dividend which will be received by its creditor, and to make publication of the same in the Urbana Citizen.' He has full authority to collect and compromise all debts due the Bank, and to make sale or exchange of any of its property, real or personal. All debts due the Bank are to be made payable in its paper, and any of its property may be sold for such paper. Mr. McDonald is not authorized to redeem any paper of the Bank except in payment of debts or for property aforesaid. He is to keep a particular account of all his proceedings, and report the same to the Court at each term, when they will be liable to the exception of persons interested. When he shall report a sum of money on hand. the Court will make such order as they think best for its distribution among the creditors of the Bank.

17. August 8, 1843 Democratic Standard Georgetown, OH
Article from Democratic Standard, August 8, 1843

Click image to open full size in new tab

Article Text

URBANA BANK. We notice, in the advertising columns of the Urbana Citizen, a statement of the condition of the affairs of this defunct institution, made by Wm. McDon. ald, Special Receiver. The assets of the Bank are stated at $340,85G-the liabilities, exclusive of the capital stock, at $312,481. Among the assets, is a debt due from the Ohio Insurance Co., of 71,899. Among the liabilities is a debt due Clark Co, of $9,093, and a circulation $247,607. Cash on hand, 30, 000. The chance for the stockholders, of which Clark county is one to the amount of some $18,000, is a dull one. This report, it seems to us is not what the public were looking for, nor what they might reasonably anticipate. It is a simple statement of the balance sheet of a twice dead bank. We have had ten thousand rumors, in reference to the affairs of that institution, and Ethe causes of its failure; but of these we have taken no notice. trusting that an authorized statement would be made. Why is it not done? Why is not some effort made to show what has become of the $200,000 capital stock? This, and various other matters, require a prompt explana tion.-Springfield Repub.

18. September 7, 1843 Wheeling Times and Advertiser Wheeling, WV
Article from Wheeling Times and Advertiser, September 7, 1843

Click image to open full size in new tab

Article Text

URBANA BANK-We find the following notice of the Urbana Bank in the Western Citizen of Aug 29 : In reference to the Urbana Bauk, the Court of Common Pleas on application, allowed the trustees of the Ohio Insurance Company. further time to deliver over the balance of the assets of the Bank. The Court also ordered the Special Receiver of the Bank to distribute the moneys on hand among the bill holders. The amount of the dividend was not fixed; but will not exceed 8 or 10 per cent, and may not even roach that amount Due notice of the matter will be given by the special receiver. We have all along believed that this bank was solvent, and would ultimately redeem all its circulation But we must confess that our faith has been much shaken of late, in this behalf. We hope we 1. " be mistaken. but we are inclined to think that it W.. not pay more than fifty cents on the dollar, if that.

19. September 12, 1843 Democratic Standard Georgetown, OH
Article from Democratic Standard, September 12, 1843

Click image to open full size in new tab

Article Text

THE URBANA BANK. The Urbana Citizen of Tuesday brings us the following item of intelligence concerning that beautiful concern, the bank of Urbana: "In reference to the Urbana Bank, the court, on application, allowed the Trustees of the Ohio Insurance Company further time to deliver over the bal. ance of the assets of the Bank. The court also ordered the Special Receiver of the bank to distribute the moneys on hand among the bill holders. The dividend 10 be made on the first of November next. The amount of the dividend was not fixed, but will not exceed 8 or 10 per cent, and may not even reach that amount. Due notice of the matter will be given by the Special Receiver. We have all along + believed that this bank was solvent and would ultimately redeem all its circulation. But we must confess that our faith has been much shaken of late, in this belief. We hope we may be mistaken, but we are inclined to think that it will not pay more than 50 cts. on the dollar, if that." "Fifty cents on the dollar, if that!"Hear that, Messrs Brokers. We should think this would be a very disagreeable flea in the ears of some we wot of, unless it should turn out, as many of our com. mercial men believe, that the officers of the bank and others interested, have formed a combination, and studiously labor to depreciate their paper, that they may buy it'up at low rates for the purpose of speculation. That there is good reason for this belief, we do not deny, and independent of such an impression being common in this and other commu nities, growing out of certain transactions, the character of the conductors of the institution would of itself justify such a prejudice.-Cin. Enq.

20. December 13, 1843 The New York Herald New York, NY
Article from The New York Herald, December 13, 1843

Click image to open full size in new tab

Article Text

MONEY MARKET. Tuesday, Dec. 12-6 P. M. advanced. The sales were very yesterday, heavy. Railroad improved 4 per cent Bank 1; Paterson Norwich 1; Illinois 1; Illinois Farmers Loan 1/2 Harlem Stocks again 1; since Ohio firm up Island declined 1; Canton 1 very 1; Long Bank 1; Kentucky and Indiana were sold at North American Ohio Vicksburg quotations; Trust Life 13, previous advance of per cent since street an firm at par. Nothing doing in Wall in stocks. The holders of bank stock. speculations being at and Trust brokers yesterday; are very busy fleec- but deing each other, at Insurance the expense and of Trust Company have 1st inst clared The Savannah a semi annual dividend of five Orleans per cent. on the were The $65,897, receipts making of specie the in total New amount received since were Sept From 1st, Oct. $2,027,180 1st to Dec. 1st, the receipts of specie at Mobile diof nine per cent on its The $602,379. receiver of the Ur bana circulation. Bank, Ohio, is paying Rail a vidend President of the Philadelphia and 2 loan Reading of $1,000,road The is in London, endeavoring He has been to obtain partially successful. do000 This for road that appears, Company. from their monthly The receipts reports, for to Novem be ng fair amount of business. ber were in $54,695 80. money market shows great activity Good diviThe Boston an abundance of floating capital. advanced within stocks, and particularly railroad, have road stock a large per cent. for old, and 151 Lowell 30 do; Auburn and $33 dend reached a few stocks, days 5] 6 advance; Worcester Norwich Providence Rochester 181 102 Fitchburg per cent; has for new; Western firm manufacturing at $49 49 75; stocks have improved very The Lowell of which are about making dividends. of a six per much, many advance, in anticipation Boot 7) Lawrence 34 do; x-dividend; Suffolk $97. dividend; sells at 71 Appleton 43 do; Amoskeag cent do Tremont York, 7 do; at Merrimack Saco, 13 do; 25 do, Stark of 9 53 per do. cent. The We learn Perkins 15 do; dividend in the Boswill of the loose on the manufacturlarge part from dividends that ing that ton and Banks doubtless insurance is received make companies a These capital companies of that in section, deposit have each, paid which, within have been lately declared. from six to ten per cent heavy sum. the last six months amounts to a very on their of investment being want of All the channels deposite, for the of into the banks on The accumulation goes immense employment. capitals, full, the this country, amount capital some is method of in all parts of absorb. safe in the corporate companies movements of trade can com greater than the usual estate for several years past, The high prices the present of real real value-the worth numerous was so inflated, mortpared with on property when its mortgaged-th be paid with the and the abundance of unencumbered estate to obtain scarcity gages that cannot created property, real premises so capital of money their much idle capital, without enabling endangering interest, owners create of land so and houses, safe, and legitimate paying that seven per cent to any profitable use in it a accumulates in cannot be devoted its value decreases, and of speculation that manner, that or is devoted to a species The banking and in in will dollars. surance approaches bank vaults, companies very near the of course to this gambling city, of sixty and several days This th interest-pay row increase into the to ing market states, more than a million of will give an additional imthe present to all the immense bubbles amount now already at an so earlier much inflated, period than will and petus about the grand dividends crisis due, or about due, anxious Many of individuals who are fall into the hands by a few fortunate otherwise. bring their wealth, of the whole movement speculations will to increase result of the backed in Wall street. The shrewdest operators, the be that a few of the the oysters and distribute loans, will get and foresight. The bank all experience shells with not possessing less the Treasury does of condition of to those report of the Secretary the of government, so plaindely show as we the could financial in estimating wish. He receipts "aggregates and importance expenditures instead of the is sub- not tails, particular and in giving items taken as the the Secretary's tables and AND EXPENDITURES 1841. arranged ject so demands. them so We as have they can be OF understood THE UNITED at a glance. STATES $28,685,111 RECEIPTS Amount in the Treasury 1841. FROM on settlement of ac29,289,434 counts, deducted Jan. 1, as not available, $604,323 Jan. 1, 1841, of So To that be in fact there was an actual deficiency, $19,643,966 Receipts 1842. into the funds, Treasury, and during of the 1842, avails ex- of to clusive of notes trust and loans, the were revenue and others were To Treasury supply provide the means deficiency for the in redemption issued and of loans Tea14,808,735 sury obtained notes, to the amount of $34,452,701 of exclusive Expenditures of on the the same redemption year, loans of Trea- and the sums notes paid and interest debt, on recent were $23,922,037 sury account of public account of the 8,477,868 loans was Amount old on public interest paid debt, on and Treasury on Janu- notes 604,323 Deficiency and in the Treasury ary 1st, 1841 33,004,229 $1,449,473 Balance in the Treasury Jan. 1st, 1843 1st to $8,065,325 1843. Receipts into exclusive the Treasury of the avails from of Jan. Treasu5,545,708 To July ry provide notes 1st, or means loans others for were the of. redemption issued, and of loans Trea6,934,000 A sury obtained loan notes, was to made the millions, amount under the nearly act the of March whole of 3, 1843, of seven that quarter. down 1,449,473 Balance which in was the received Treasury Jan. 1st,1843, brought $21,994,506 on account of the redemption Expenditure exclusive publie debt. of the sums of $10,698,390 paid paid for for principal Amount notes and debt 861,607 11,559,997 Treasury interest on the public $10,434,509 Receipts From customs Balance and in of the 1st quarter Treasury present July 1st, fiscal year 1843. $6,132,272 389,870 Public lands. 26,871 Miscellaneous loan of of subscription to 66,000 6,614,013 3,637,000 Residue seven millions 2d quarter Customs Estimated $3,100,000, receipts Lands $537 3d receipts 5,100,000 Estimated Lands $500,000 4th quarter- Customs $3,600,000, $50,000. 4,170,000 Estimated $4,600,000, receipts Lands $520,000, Miscellaneous

21. December 15, 1843 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, December 15, 1843

Click image to open full size in new tab

Article Text

" " 19,119 $110,460 24 Total The following sales stocks were made at Boston: 42 shrs Western Railroad 53 per share; 5 do Boston and Worcester Railroad 18 per cent. advance; 4 do North Bank S92: 5 do Neptune Insurance Co. 4S1 adv. The suit in Chancery brought by the Onondaga County Bank to settle the question of an equality of rights.existing between the depositors and billholders of the broken SafetyFund Banks in relation to their claims on the Safety Fund is to be decided at the January term. The Receiver of the Urbana Bank, Ohio, is paying a dividend of nine per cent. on its notes.

22. December 20, 1843 Wheeling Times and Advertiser Wheeling, WV
Article from Wheeling Times and Advertiser, December 20, 1843

Click image to open full size in new tab

Article Text

"URBANA BANK -For the information of the bill holders of this defunet Bank. we will now state what we neglected after the last term of the Court, that the Receiver is now paying a dividend of nine por cent. on its circulation. How soon another will be made, is very uncertain." -Urbana Citizen.