City Bank - Baltimore, MD

Bank Information

Episode Type: Run → Suspension → Reopening
Bank Type: state
Start Date: May 29, 1819
Location: Baltimore, Maryland (39.290, -76.612)

Metadata

Model: gpt-5-mini
Short Digest: 01d0326a

Response Measures

Accommodated withdrawals, Partial suspension

Other: Directors publicly solicited holders of small notes (under $5) to present them and invited specie deposits from citizens; notice promising speedy redemption issued.

Description

Multiple contemporaneous articles (late May–early June 1819) describe small-specie demands and partial alarm from unfounded rumors about Baltimore banks; City Bank of Baltimore experienced a temporary suspension of punctual payments but directors and other banks met demands and confidence was restored by June 1, 1819. I classify this as a run leading to a temporary suspension with subsequent resumption of payments. Dates taken from notices and newspaper reports (May 29–June 4, 1819).

Events (3)

1. May 29, 1819 Run

Cause: Rumor Or Misinformation
Cause Details: Unfounded rumors circulating about solvency of Baltimore banks generated partial alarm and many small specie demands from laboring citizens.
Measures: Directors and officers attended the bank; other banks and exchange offices aided; some respectable citizens deposited specie to reassure the banks.
Newspaper Excerpt: A necessary arrangement at the City Bank of Baltimore, yesterday, excited a partial alarm, chiefly among the laboring class of citizens... and caused a number of small demands for specie on several of the other banks
Source: newspapers

2. May 29, 1819 Suspension

Cause: Rumor Or Misinformation
Cause Details: Temporary inability to meet punctual payments resulted from the surge of small specie demands triggered by circulating rumors and alarm; board explicitly calls it temporary suspension of punctual compliance with engagements.
Newspaper Excerpt: the foul cause of those pressing demands ... has occasioned a temporary suspension of a punctual compliance with their engagements.
Source: newspapers

3. June 1, 1819 Reopening

Newspaper Excerpt: These were met so promptly, ... public confidence is restored. ... the demand had essentially decreased. by Monday morning unnecessary excitement will cease.
Source: newspapers

Newspaper Articles (5)

1. April 2, 1819 Alexandria Gazette & Daily Advertiser Alexandria, VA

Article from Alexandria Gazette & Daily Advertiser, April 2, 1819

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subsistence. New efforts will be necessary to civilize them. and effectual regulations must be adopted for the purpose, or they will perish. The great amount of the public lands, which constitute an inexhaustable source of wealth to the whole nation; the disposition of our troops to protect our frontier settlements and preserve peace with the Indians-to protect the Indians themselves from injustice-and to secure the public lands from intrusions ; are subjects highly worthy of the attention of those to whom the management thereof is intrusten, and particularly of the Chief Magistrate. Mr. Monroe has evidently considered it his duty to attend person to these objects since he was elected into the present office and particularly to measures relating to the public defence. The late war obviously formed an epoch in our history, and furnished the motive, if it did not impose the obligation on the Chief Magistrate, to give to those measures the utmost activity and vigor. We have not forgotten the imminent perils of that momentous struggle--the desolation of our coast, throughout its whole extent--the great number of our citizens who were called, even from the most remote parts of the interior, to its defence, and the waste of life from disease, which followed. Had the coast been fortified. one tenth of the force would have been more adequate to its defence, and more than nine tenths of our citizens and property thus lost would have been saved from destruction. We all recollect the ability and virtue with which the citizen, then at the helm, sustained that struggle, and his persevering firmness in moments of the severest trial. Mr. Monroe then acted under him, in the department of war, and having witnessed the difficulties of that struggle, he thinks it incumbent on him to exert every means in his power to carry into effect the salutary laws and provisions of congress, since adopted, to avert like calamities, in the event of another war. Such, obviously, are the motives and the objects that, in the opinion of the President, impose upon him this arduous duty, which he collmmenced soon after the na tional concerns were confided to his hands and which he is now prosecuting. The Secretary of war sat out with the President, and will accompany him until he leaves the coast for the interior. [National Intelligencer. We have been requested togive a salutary caution to the publick, respecting certain notes of the Bank of Cincinnati, which are made payable at the city Bank of Baltimore, at some number of days after their date. One of these notes handed to for the purpose of giving this caution, bears date "Cincinnati, 7th Sept. 1818, and contains a promisc that the President, Directors & Co. of the Bank of Cincinnati, ninty days after date, will pay J.G. Lamb or order at the city Bank of Baltimore FIVE DOLLARS." It is signed E. Stone, Pres. L. Pugh, Cashr. and indorsed Lamb. Although this note according to its tenor was payable more than three months since, it is stated to day that there are no funds at the city Bank applicable to its payment. And such, we learn, is generally the answer given on presentation of similar notes for payment. [Balt. Federal Gazette. ACE OF EXPERIMENT. By an advertisement in this day's paper it will be seen that the new and elegant Steam Ship Savaunah, is to leave our harbor to morrow. Who would have had courage, 20 years ago, to hazard a prediction, that in the year 1819, a ship of three hundred tons burden, would be built in the port of New-York, to navigate the Atlantic propelled by steam? Such, however, is the fact. With admiring hundreds have we repeatedly viewed this prodiov. and can

2. June 1, 1819 Alexandria Gazette & Daily Advertiser Alexandria, VA

Article from Alexandria Gazette & Daily Advertiser, June 1, 1819

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ALEXA NDRIA TUESD.1Y, JUNE 1, 1819. BANKS. Notwithstanding the avidity with which the editors of papers in Baltimore seized upon, and gave currency to, the unfounded rumors in circulation, set, afloat no doubt, the by interested individuals, in relation to solvency.of the banks in this part of the district, we have studiously avoided giving the various reports which we have heard on the same subject, relative to several of the Baltimore banks; and not till we saw an official notice of one of the banks, did we deem it proper to say any thing about it. With respect to the banks in this place, in we are confident they able to meet all their are now fully operation, and engagements, happy and will continue to do so; are to learn from the following article, copied Baltimore Federal Gazette of Sain relation to the the evil of a bank stoppage is not from turday, that the Mechanics' likely bank, City extend farther there than to the conduct in Baltimore, and other to Bank banks of Baltimore.-The individuals, mentioned of the towards the oppressed bank, as and in this article, is highly bonorable praiseworthy-and we would say to the this directors of the different institutions in place, and individuais, should occasion require it, go thou and do so likewise. "A necessary arrangement at the City Bank of Baltimore, yesterday, excited a partial alarm, chiefly among the laboring class of citizens, respecting bank paper, and caused a number of small demands for specie on several of the other banks, which dewas renewed this morning. These were met so promptly, was soon restored. mands lic confidence that the Except pubin a few instances. the sums demanded were very small; a great proportion of both in number and amount, ten dollars from each them, exceed claimant, did and not very many of them were for one and two dollars. At the Mechanics' Bank of Baltimore, where the greate=t number of claims were made, several of the directors attended to the officers of the bank, and by this a vast crowd of demands were in a short so that fied means assist period, before twelve saliso'clock to-day, scarcely a solitary c!aimant remained, and the demand has now wholly ceased. A gratifying instance of the confidence reposed in the Mechanics' Bank in this came to our knowledge the run which was inade upon during city, this morning, to say, that institution for specie. A Lady came that she had laid by a few hundred Spanish dollars, which, if the bank wanted them, were entirely at its service. A number of respectable citizens also proved their confidence in each of the banks, by making deposit in specie. As an act of justice, which we have much pleasure in performing, we add, that the several respectable exchange offices in this have evinced, on this an !iberality in tive city and friendly oucasion, their aiding conduct, the acwhich has been highly useful in banks to quiet the alarm which prevailed meritorious conduct reas deserve, the thanks ceive for this they they will of their fellow citizens. That one or two citizens have acted otherwise than friendly to the banks, we sincerely regret. and hope that on reflection, they will be sensible of the impropriety of assisting to increase an unnecessary excitement. The friendly conduct of all the other banks in this city to those OR which demands were made, is highly honorable to their respective officers and directors and the increase of confidence in the safety of our monied institutions which must be the result of this judicious if induct, will renshort excitement which we have experienced der the a benefit to our city." ANECDOTE. A gentleman of this city, whether actua-

3. June 1, 1819 Richmond Enquirer Richmond, VA

Article from Richmond Enquirer, June 1, 1819

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the collection or notes Notes of The for public are also informed that the of all Bank will be received in payment this debts due to it, on application to the Acting Cashier. The Board of Directors assure the Creditors doubt of whatever the City of Bank the ability that they of the emertain Bank to no meet all its engagements in ROBERT is short time. BARRY. Cashier. pro tem. LANGDON CHEEVES, Esq. Pros dest this of city the of the United States, arrived in Bank yesterday evening, from Philadelphia. Robert Barry, Esq. is appointed cashier James of City Bank: the late incumbent Sterett, the Esq having resigned. BALTIMORE, May 29-1 necessary City Bank of Baltimore, excite a partial arrangementalthe yesterday, alamm, citiz chiefly resthe laboring class of us, Bank paper, and a of small demands !or specie on among peeting ber caused renewed sum several of the other Banks, which was met this morning,-There demands were that the publick confidence in so restored. Exc pt in a the soms demaided were very in stances IS SOON promptly, few oth a great projo tion of to m, ten number small; and amount, did not exceed 11 a from each claimant and very of them were for one and two e Mechanics' Bank of dollars ny At Balmore, dollars. were the alest number of c autos to several of the directors where made, gu attended and by t the officers of the Bank, a vast crowd of demands were in a short period, so assist isfied means thatbefore claim- 12 "clock to day, scarcely a solitary now ant remained, and the demand has wholly gratifying instance of the confidence this A in the Mechanics Bank of came to our knowledge this that the run which was made upon city, reposed during morning, to say, for specie. A Lady ame she had laid by a few instruction that hundred Bank wanted Span Dollars, which if the A ish were entirely at its service. them, of respecialite citizens, also proved number their confidence in each of the Banks, by making deposits of specie. an act of justice, which we have much As pleasure in performing, we add, that the several respectable exchange this offices in this an city active have and evinced, friendly OH been libeoccasion, in their conduct, which has quiet rality usefulin aiding the banks this to me highly alarm which prevailed ; for the conduct, they will receive, as the thanks of have ritorious they deserve, citizens their fellow That one or two the citizens. acted otherwise than friendly to hope, we sincerely regret ; and sensible banks, will reflection, they will be increase that of the impropriety classisting 10 an unnecessary xeitement. The frie ndly conduct of all the other deof this city to those on which mands Banks were made, is highly honourable dire lors respetive officer and gift to their increase of confidence inthe & of the monied ins itations W ih must tv the our result of this judicious condnet which be render the short excitement our Fed. will we have experienced a benefit Gaz. to city. run upon the Mechanics' Bank, The commenced yesterday, was resum until which this morning, and continued for ed 12 o' clock, when applications ceased.about had almost entirely specie demands were met in a manner officers so of These and liberal, by all the efprograp the bank, as to have a most salutary who were the minds of those to their a call. feet influenced upon by erroneous impressions give City Bank, agreeably to their ad. it vertisement, The have met the calls and upon when in a corresponding went to press, manner the demand had two our paper essentially decreased. One or little very the other banks were teased a all but of we presume by Monday morning unnecessary excitement will cease. Balt Pat. NEW YORK. May 28.- A squadron, and Enterprize, consisting if the John Adams. Outario commodore Perry, iii is under 10 cruise on the small the ordered command of coast of South the aid, is The advantage of keeping a by America. in that quarter has been SPFH a oice of the Ontario, which to raise of private property, the varfare portion vexations delays, from the protected subjected pecaliar colonies great capare and between have the mother now prosecuting compary Some against charges the favers been nd facilities made in afforded the papers by U. States to the interests ships of " nd the Royalists injurious and address as f the Patriots. safely through var necessary 10 to Much steer delicacy if can be done.- these la of sympathy in this country to show here islittle and very little disposition Not. Adv. Royalists, illows re oppositions- for that the hemany favours. accounts from Gibraltar state, order to The last bound to Tripoli, in board ce he squadron cruisers was of the Hey, from Media revent vessels to demand plague ng pass, in consequence made against erranean American the have been of their the inter I B leveral remonstrances without effect :4 personal the question. la low his practice with the Pacha will settle [1b. th fo used of

4. June 4, 1819 Richmond Enquirer Richmond, VA

Article from Richmond Enquirer, June 4, 1819

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# City Bank of Baltimore. While the President and Directors of this institution acknowledge the pleasure with which they have viewed the liberality and decorum of their fellow citizens, on Friday and Saturday last, when applying for payment of their claims on this Bank, they cannot but express their deep sorrow and rogret at the foul cause of those pressing demands, one too, wholly beyond their foresight or control, and which has occasioned a temporary suspension of a punctual compliance with their engagements. The Board of Directors are desirous that all persons holding the notes of this bank of an amount under five dollars, would produce them for payment as soon as possible; for independent of their desire to ascertain to what extent that description of notes now out may amount, they feel desirous to remove the doubts and relieve the wants of their holders, whom it has been known and observed, consist chiefly of a meritorious class of mechanics and laborers. The Board further repeat their assurance to the holders of other notes, that their indefatigable exertions are directed towards a speedy redemption of all the paper and other engagements of the institution. By order of the Board, ROBERT BARRY, Cashier, pro tem. Notice is hereby given, by the President and Directors of the City Bank of Baltimore to the

5. April 20, 1821 Richmond Enquirer Richmond, VA

Article from Richmond Enquirer, April 20, 1821

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CRAVICLOGY-FLAT HEADED INDIANS. Men are more indebied to the merchant than they gene. rally know. or are ni ling to acknowledge. He improves navigation, enlarges geography, supports law. promotes medicine. civilizes the world. cultivates natural history, and fosters science. Among numberless occurrences that might be adduced to nafirm this remark. there is one of a late date that is worthy of particular notice. It has lone been known that certain tribes of the human race, subjected the heads of the ir children to strong com. pression and thereby aftered the skulls, which was in some instances Hat. and. in oth r eases, conical. It has. however, seldom been in the power, either of the anatomist, or of the morelist to examine the heads of persons which had been so squeez and disfigured. To Col. Thomas H. Perkins, of Beston, the learned are indebted for his exertions to procure the skulls of the flat headed Indians for inspection. They are ROW in New York, and have been admired by all the curious citizens that have seen them, sine they were deposited in Mirchill's museum, in Barclay street. We have not had time to give a fall description of these extraordinary productions, and shall. therefore, content ourselves with such obvious remarks, as we were enabled to make dering. 28 short visit. these skulls are flattened as if by the action of a strong weight. or mechanical power acting downward from the vertex or top of the head. This must have been 4 gun in early infancy, and con inuce for the whole period of life during which the bones were yielding and flexible. The couseque nee is. that the frontal bone is depressed almost to flatness. or in an angle of about four or fire degrees. The parteral bones are crushed down in a similar manner. and made to assume. as nearly as may In, N level surface. In two of the skulls, the coronal and apirial sutures are much less distinct than common, and in some parts almost obliterated. The most remarkable effect of the violence thus gradually done to the cranium. is the protension of the pa. rietal bones, behind the ears, to make room for the com press d and displaced brain. This configuration issuch as to impart to the head a deformed and monstrous appearance. The information given by this intelligent and public spirited gentleman, is, that the artificial compression and flattening commence immediately after birth, and is more especially practiced by the families of consideration and quality and that slaves and und rlings only. are permitted to wear their skulls of a natural and rounded form. The physiclariesl, moral, and speculative reasoning that grows of this subject, is of great interest and extent. We understand that Col. Perkins has presented one of the rarities to Dr. Mitchill for his cabinet, [N. Y. Nat. Ad BALTIMORE, April 11.- - The Court at B&lle Air was occupied the whole of Wednesday and Thursday last in the trial of Benjamin Bateman, charged with stealing a large sum of money (about 11 000 dellars.) in specie the pro erty of the City Bank of Baltimore Mr Bateman was the first retler of the City Bank of Baltimore in May 1819 when that institution sn-pended the payment of its notes A few days after that suspension, the directors of the Bank claimed and obtained from a broker in this city, a sum of money ecie (the amount above stated) which he had drawn from The City Bank, on the day previous to the suspension, in virine of a cera tificate of deposit signed by Mr Batemas as teller The defence was that the money was the prope ty of Mr Bateman which had been specially deposit d in the Bank for safe keep.. ing-and, the Cashier and several other officers of the bank were produced as witnesses to prove that they had knowledge of the de posit The prosecution was conducted by Mr. Marray, assisted by Messrs. Mitchell and Harper the defence by Messrs Kell. Mauls by and Winder-on Friday morning the jury gave a verdict of not guilty. JAMES J. WILSON. Esq. late a senator in the con. greas of the United States, fro the state of New Jer. sty, is appointed postmaster at Trenton, Vice CHARLES RICE, Esq.