City Bank - Cleveland, OH

Episode Information

Episode UID: 3204218990659
Episode Type: Suspension → Closure
Bank Type: state
Bank ID: 320421899 hash
Start Date: November 9, 1854
Location: Cleveland, Ohio (41.499, -81.695)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: a49c4f9dda27b61c

Response Measures

None

Description

Article names the bank as 'discredited and have failed' but gives no formal receiver appointment or detailed cause.

Events (1)

1. November 9, 1854 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Article states the bank was 'discredited' and 'failed'; no specific trigger given in the excerpt.
Newspaper Excerpt: Information has just been received here that the following banks are discredited and have failed: City Bank of Cleveland, Canal Bank of Cleveland, Sandusky City Bank.
Source: newspapers

Newspaper Articles (1)

1. November 11, 1854 The Perrysburg Journal Perrysburg, OH

Article from The Perrysburg Journal, November 11, 1854

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Article Text

A writer in the Cincinnati Gazette says he has been over the states of Indiana, Kentucky, Illinois, Missouri, &c., and he finds the number of hogs at least 20 per cent. larger than last year; that there is an increase of a million and a half; and in view of these facts, he thinks packers cannot afford to pay over $3 per hundred for pork. The Gazette of Monday says that five or six packers would commence operations that day. Hogs were freely offered at $4 per 100 nett, but nobody bought at that price. The U. S. Circuit Court at Columbus has decided the Ohio tax law taxing banks in a manner different from that provided in their charters, is unconstitutional and void. Wm. S. O'Brien is now in Italy, John Martin is in Paris, and Dougherty is on his way to New York. These are the pardoned Irish exiles. John A. Westervelt, the present mayor of New York, has failed for a large amount.—Like most of unfortunate men he has published a statement of his affairs, and claims a surplus of $150,000 after paying his debts. CINCINNATI, Nov. 9.—Ellis & Sturgis and S. P. Goodman & Co., bankers, have made assignments. There is no run on other bankers, but a large number of people are assembled around the doors of the suspended parties. Mr. Badely, clerk in the banking house of S. W. Torrey & Co., has absconded with $50,000 or more, the amount is not correctly known. Information has just been received here that the following banks are discredited and have failed: City Bank of Cleveland, Canal Bank of Cleveland, Sandusky City Bank.—Reports are in circulation that the Clinton Bank of Columbus has failed. We have just inquired of a gentleman who left Columbus yesterday, but he had not heard there any such rumor.—[Toledo Blade of Thursday. BLACKWOOD.—This staunch old Magazine has again made its appearance. Among its excellencies, we note, "Speculations among the stars," continued, "The Census," "Nineveh and Babylon," "Spanish Politics and Cuban Perils," &c.—[Ib. NEW JERSEY.—Despatches state that four anti-Nebraska congressmen have been elected from this state. ILLINOIS.—All the anti-Nebraska candidates for congress and the legislature elected, as far as heard from. Seven congressional districts, 7 senatorial and 25 representative districts reported. MICHIGAN.—Decidedly anti-Nebraska as far as heard from. Bingham doubtless elected governor over Barry. BANK OF CIRCLEVILLE.—This bank has suspended payment. It is one of the old line banks, and not connected with the independent or state bank and branches. The State Journal thinks there can be no great loss on the bills. Just before shutting up shop, the following despatch was sent to Cincinnati: BANK OF CIRCLEVILLE, Nov. 6, 1854. Mr. Editor,—The course pursued towards our notes, by the bankers of Cincinnati, Chicago and Cleveland, will drive us into a suspension. We have not a single dollar in circulation but what we are able to pay.—There was no just cause for their actions.—The best bank in the Union may be forced into liquidation by such a course. H. K. LAWRENCE, Cashier. Gen. Cass made a speech to the democracy at Detroit, on Saturday evening, in which he commented on the attack upon him by the Richmond Enquirer.