National City Bank (Cleveland, OH)

View Charter #786 on SPMC View balance sheet

Episode Information

Episode UID
78601124
Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
7860 national
Charter Number
786
Start Date
August 2, 1893
Location
Cleveland, Ohio (41.499, -81.695)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1e211edc1f45ae56

Response Measures

None

Description

Articles describe city-wide withdrawal restrictions in Cleveland (not the bank by name); additional local articles could confirm effects on this specific bank.

Events (3)
1. February 7, 1865 Chartered
Source
historical_nic
2. August 2, 1893 Suspension
Cause
Macro News
Cause Details
City-wide decision by savings banks to require notice before withdrawals amid broader financial disturbance.
Newspaper Excerpt
The officers and directors of all the savings banks at Cleveland, 0., have decided to require of depositors notice before withdrawal of funds.
Source
newspapers
3. November 6, 1907 Suspension
Cause
Macro News
Cause Details
Application of the 60-day rule for withdrawals in Cleveland as part of the nationwide financial panic of 1907.
Newspaper Excerpt
Cleveland ... did likewise [apply the 60-day rule] (banks of nearly every other city did likewise).
Source
newspapers

Newspaper Articles (2)
1. August 2, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, August 2, 1893

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Article Text

TELEGRAPHIC BREVITIES. The cruiser New York was put in commission yesterday. The Seven Corners, Minnesota State bank, with a capital of $100,000, has failed. William Hunt has been appointed postmaster at Clearmont, Wyo., vice Stone, resigned. The Wyandotte County bank at Upper Sandusky, 0., has suspended. Assets, $100,000; liabilities, $75,000. A receiver has been appointed for the Philadelphia Packing and Provision company. No statement, but the failure is a large one. A receiver has been appointed for the Demme & Dierkes Furniture company of Chicago, with assets of $400,000 and liabilities of $120,000. The officers and directors of all the savings banks at Cleveland, 0., have decided to require of depositors notice before withdrawal of funds. At a meeting of the presidents of the Omaha savings banks this morning, they resolved to require sixty days' notice for the withdrawal of deposits. An order has been issued at the war department detaching Captain Carpenter and troops under his command from further duty at Puyallup Indian reservation. Patents were issued yesterday to John M. Browning, of Ogden, for a breechloading gun; to Lyman E. Baldwin, of Lander, Wyo., for a stovepipe attachment. The Safe Depositor & Trust company of Denver assigned last evening. Assets $400,000, liabilities $100,000. Eastern creditors caused the assignment by pushing the concern. At Utica, o., Monday night, John Cattle, two men named Bell, two others named Bowers and Skillen, were killed and Joseph Ship fatally injured by the explosion of a threshing machine.

2. November 6, 1907 Alma Record Alma, MI
Article from Alma Record, November 6, 1907

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Article Text

AS OTHERS SEE IT The following appeared as an ediorial in this mornings Grand Rapids Herald and in a clear and concise statement of the facts as relative to the present financial Hurry: "The end of the financial disturbance is believed to be in sight. The trouble originaed in New York. The "collapse of the copper corner pinched some of the brethren of high finance. Their embarrassment involved some of the banks with which they were connected. In a flash New York had a panic on hand. The New York banks. for their own protection. applied the 60-day rule for withdrawal of deposits and resorted to the use of clearing house certificates. This action was not necessarily an evidence of weakness. but was deemed essential to safety to prevent a blind. unthinking. unreasoning rush for money to be locked up in vaults or hoarded." New York is the country's great financial center. its money reservoir. When New York tied itself up in a knot. other cities were soon in a tangle, not through any fault of their own nor because of "local conditions.", but simply bceause New York had failed them. Chicago was the first to follow the New York example in applving th* 60-day rule_and resorting to clearing house certificates. And then Detroit. Pittsburg. Cleveland. Buffalo, St. Louis and the banks of nearly every other city did likewise. The banks of Grand Rapids are among the very few in the country that have continued to do business under anything approaching normal conditions. The banks here still pay cash on demand to satisfy all legitimate needs, but at the same time they are doing all they can to conserve their supplies of currency by the use of checks, certificates of deposit and exchange on New York and Chicago. But as stated, the end of the trouble. it is believed, is now in sight. The national banks all over the country are taking out additional circulation. is coming out of Washington at the rate of $1,000.000 to $1,500,000 a day. The government mints are working overtime on new coniage. and this money is being put into circulation as rapidly as possible. The greatest, factor of immediate relief. however. is the arrival of gold from Europe. The Kron Prinzessin Cecile brought $8,000,000 into New York yesterday. The Lusitania will arrive Friday with $10.000,000. Other ships are on the way