17588. Bank of Massillon (Massillon, OH)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 30, 1855
Location
Massillon, Ohio (40.797, -81.522)

Metadata

Model
gpt-5-mini
Short Digest
88027703

Response Measures

None

Description

Contemporary articles identify the Bank of Massillon as a branch of the State Bank of Ohio that had suspended (noted in Jan 1855). By August 1855 receivers were appointed to wind up the defunct bank, indicating permanent closure/receivership. No explicit run described in the articles; cause of suspension not specified in the snippets, so coded as 'other/unknown.'

Events (3)
1. January 30, 1855 Suspension
Cause Details
Article lists the Bank of Massillon as suspended but does not specify a triggering cause (no run or specific adverse event mentioned).
Newspaper Excerpt
BANK OF MASSILLON, MASSILLON, LICKING CO. Branch of the State Bank of Ohio, suspended.
Source
newspapers
2. February 17, 1855 Other
Newspaper Excerpt
Did that gentleman not know that it was one of the pets belonging to that old banking system... Its notes are not worth the paper on which they are printed. ...the defunct bank of Massillon, as evidence of the depreciation of Ohio Bank money on the suspension of any of the Branches of the State Bank.
Source
newspapers
3. August 30, 1855 Receivership
Newspaper Excerpt
Judge Belden has appointed George Harsh, Dr. Isaac Steese and P. O. Hull, receivers for the old Bank of Massillon, with power to wind up the business of that defunct institution. They take the place of the former assignees of the bank.
Source
newspapers

Newspaper Articles (3)
1. January 30, 1855 Minnesota Weekly Times Saint Paul, MN
Article from Minnesota Weekly Times, January 30, 1855

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Article Text

BROKEN AND DISCREDITED BANKS. Below will be found a revised list of broken and discredited bills. Many of the banks named, have not in fact failed, but their bills have been discredited, refused by bankers and brokers in Galena and Chicago. It will be well to refuse all bills contained in this list until further information is received from below. N. HAMP. WOLFBOROUGH BANK, VT. BENNINGTON, VT. STARK B'K BENNINGTON, MASS. COCHITUATE BANK, BOSTON, EASTERN B'K, WEST KILLINGLY, - CONN. R. ISLAND. SCITUATE BANK, " WESTMINSTER BANK, Providence, N.Y.CITY. EIGHTH AVENUE BANK, " EMPIRE CITY BANK, " CENTRAL BANK, " KNICKERBOCKER BANK, " SUFFOLK BANK, N. Y. STATE. BANK OF CARTHAGE, " FARMERS' BANK, ONONDAGA, " DROVERS' BANK, OGDENSBURGH, " ATLAS BANK, " MERCHTS & MECHANICS B'K, OSWEGO, " SULLIVAN COUNTY BANK, " FRANKLIN BANK, MARVIN, " JAMES' BANK, JAMESVILLE, COMMERCIAL BANK, PERTH AMBOY, N. J. " TRADESMANS' BANK, " DEL., & HUD. B'K, " WHEAT GROWERS' BANK, Newton. " MERCHANT'S BANK, Rridgetown, DEL. BANK OF MILFORD, FARMERS' & MERCH'TS B'K, Kent, Co., MD. Va. BANK OF KANAWHA, " TRANS. ALLEGANY BANK, OHio. SAVINGS BANK, CINCINNATI, " BANK OF CIRCLEVILLE, " CLINTON BANK, COLUMBUS, " BANK OF MASSILLON, MASSILLON, LICKING CO. Branch of the State Bank of Ohio, suspended. BANK OF ZANESVILLE, ZANESVILLE, elosing. MECH'S & TRADERS' B'K, Branch of the " State Bank of Ohio, " CANAL BANK, CLEVELAND, " SANDUSKY CITY BANK, OHio. COMMERCIAL B'K, Toledo, " BRANCH OF THE OHIO STATE B'K, IND. BANK OF CONNERSVILLE, FAYETTE CO. BANK, ATCONNERSVILLE, " " STATE STOCK BANK AT PERU, " ELKHART BANK, " ELKHART COUNTY BANK, " LOGANSPORT INSURANCE CO., " UNION PLANK ROAD co., " PLYMOUTH BANK, " t DELAWARE COUNTY B'K, COVINGTON & DANVILLE, PLANK R. CO. " " B'K OF ALBANY, NEW ALBANY, " IND. STATE STOCK B'K, " NORTHERN IND. B'K, LOGANSPORT, Kr. KENTUCKY TRUST co., " COMMERCIAL BANK, " NEWPORT SAFETY FUND, FARMERS' & MERCH'TS' B'K, Memphis, TENN. " MECHANICS' BANK. CITIZENS' B'K, OF NASHVILLE AND MEMPHIS, " " B'K OF CHATTANOOGA, " B'K OF EAST TENNESSEE, PLANTERS' & MECHANICS. B'K, DALTON, GA. " MANUFACTURERS' BANK, MACON, " BANK OF MILLEDGEVILLE, ALL DISTRICT COLUMBIA. Mics. BANK OF WASHTENAW, " ERIE AND KALAMAZOO R. R. BANK, " GOVERNMENT STOCK BANK, ADRIAN INS. CO., closing. Ills. DUPAGE COUNTY BANK, " NAPIERVILLE BANK, " FARMERS' B,K OF CHICAGO, " EXCHANGE B'K, CHICAGO, " " CITY BANK, " " UNION BANK, " PHENIX B'K CHICAGO, " MERC'S & MECHS' B'K, Springfield, " ROCKFORD B'K, FARMERS' & TRADERS' B'K, Charleston, " Wis. OSHKOSH CITY B'K, Oshkosh, FARMERS' JOINT STOCK BANKING co., CANADA. Toronto, BANK OF MANKATO, M. T., Fraud. Iowa, Arkansas, Mississippi, Prince Edwards' Islands. Texas. Florida. Minnesota.

2. February 17, 1855 Weekly Indiana State Sentinel Indianapolis, IN
Article from Weekly Indiana State Sentinel, February 17, 1855

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Article Text

For the Sentinel. Ohio Banks-A Correction. MESSRS. EDITORS :-I happened to be in the Hall of the House of Representatives, Wednesday afternoon, when the Free Banking Law was under discussion. Mr. Hudson, of Terre Haute, during the course of his remarks, took occasion to speak disparagingly of the present banking system of Ohio, and to sustain his positton, alluded to the defunct bank of Massillon, as evidence of the depreciation of Ohio Bank money on the suspension of any of the Branches of the State Bank. Did that gentleman not know that the Bank of Massillon was no part of the present banking system of Ohio ? Did he not know that it was one of the pets belonging to that old banking system, like unto the one for which he is now fighting ? Its notes are not worth the paper on which they are printed.The Bank of Circleville, the last of the old banks, is down and its bills are worth but from fifty to sixty cents on the dollar. Neither of these banks were doing business under the present law. How is it with the State Bank and its Branches ? During the pressure of the money crisis which is yet in existence, the Canal Bank of Cleveland, and the City Bank of Columbus, were both obliged to suspend specie payment, at d cc nsequently their doors were closed. But did this depreciate the value of the bills put in circulation by these banks ? Not at all. They are just as current now as ever they were, and I have passed bills on both of them in this city, since my arrival.Indeed, your business men will give five per cent. premium on the bills of these banks today, after their doors are closed. The difference, therefore, between the worth of the bills on these two branches and those of Massillon and Circleville, is just the difference between the Ohio Banking law and the law for which Mr. Hudson so eloquently contended. I like to see every dog have his due, and if Indiana is to have banks, certain it is that she can never adopt a system that will surpass that now in existence in Ohio. It would be well for the legislators of Indiana, before adopting a banking law, to become familiar with the principle of the State Bank of Ohio and its operations. A uniform system of banking in the two States could have no other effect than to inspire a mutual confidence and free interchange of currency. As it now is, no Indiana bills are regarded as good in Obio, nor can they be circulated there. A hint to the wise, &c. OHIO.

3. August 30, 1855 Carroll Free Press Carrollton, OH
Article from Carroll Free Press, August 30, 1855

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Article Text

Two BANK OF MASSILLON.-We learn from the 'Massillon News' that Judge Belden has appointed George Harsh, Dr. Isaac Steese and P. 0. Hull, receivers for the old Bank of Massillon, with power to wind up the business of that defunct institution. They take the place of the former assignees of the bank. The receivers have given bonds in the sum of one hundred thousand dollars, and have entered upon the duties of their appointment.