Commercial Bank (Cincinnati, OH)

Episode Information

Episode UID
4346927491143
Episode Type
Run → Suspension → Closure
Bank Type
trust
Bank ID
434692749 hash
Start Date
March 27, 1895
Location
Cincinnati, Ohio (39.103, -84.515)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a607e1dd1f72880c

Response Measures

None

Description

Bank assigned to its cashier as receiver; appraisement and dividend later filed.

Events (3)
1. March 27, 1895 Receivership
Newspaper Excerpt
Later the bank assigned to W. H. Campbell, who was its cashier. ... Receiver W. H. Campbell, of the Commercial Bank, was before the Insolvency Court ... and appraisement ... assets $440,000; liabilities $600,000.
Source
newspapers
2. March 27, 1895 Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy withdrawals precipitated after clearing-house adverse action and revelation the bank had to make $50,000 of bad paper good; much receivable paper alleged unsound.
Measures
Bank suspended payments; notified clearing house it could not pay its day's clearings.
Newspaper Excerpt
There had been an unusually heavy run on the bank today, and it became absolutely necessary to suspend business.
Source
newspapers
3. March 27, 1895 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Clearing-house suspended honoring its paper after discovery of bad paper and adverse report, forcing suspension and assignment.
Newspaper Excerpt
The Commercial bank today notified the clearing house that it could not pay its day's clearings. Later the bank assigned to W. H. Campbell, who was its cashier.
Source
newspapers

Newspaper Articles (18)
1. March 28, 1895 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, March 28, 1895

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Article Text

A Cincinnati Bank Suspends. Cincinnati, March 27.-The Commercial bank today notified the clearing house that it could not pay its day's clearings. The Commercial is one of the oldest banks in the city. Later, the bank assigned to W. H. Campbell, who was its cashier. Charles B. Foote is president of the bank. Cashier Campbell stated that the bank had but temporarily suspended, and would be all right in a few days. There had been an unusually heavy run on the bank today, and it became absolutely necessary to suspend business. He said further that the bank held ample securities to pay out to all depositors in time Tonight it is reported that the affairs of the bank will develop badly. The bank had a paid up capital stock of $328,000 and a surplus of $10,000. Its average deposits are $400,000. It has $000,000 bills receivable, but It is claimed that much of this paper is not good: that the trouble was precipttated by the bank being compelled to make $50,000 of bad paper good yesterday. The directors are Charles B. Foote, a relative of the late Senator Pendleton: Wm. Herron, J. B. Specker, A. B. Batterman and A. B. Hall, who did all they could to prevent the run. The adverse report of the clearing house committee today precipitated the trouble, and It is the general opinion that the liabilities will greatly exceed the available assets.

2. March 28, 1895 The Times Richmond, VA
Article from The Times, March 28, 1895

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Article Text

FAILURE OF AN OLD BANK. The Commercial, of Cincinnati, Forced to Close its Deers. CINCINNATI, March 27.-The Commercial Bank, at 132 Main street, assigned this afternoon to W. H. Campbell, its cashier. The decision to go out of business was reached but a half hour before the assignment was made. The bank was compelled to make good $50,000 worth of bad paper yesterday. When the bank sent its paper to the clearing-house this afternoon the directors of the association, on motion of Cashier Guthrie, of the National Lafayette Bank, suspended payment on the paper, and an Investigation of the bank"s condition was ordered. This move proved fatal and recipitated the failure, which had been impending for some time. The directors of the bank were hastily called together and the attorneys were ordered to draw up the deed of assignment, which was filed a few minutes later. President Foote says that the bank will be able to pay dollar for dollar. The bank is the oldest in the city. It was organized in 1831. Charles B. Foote is president. The bark has a paid-up capital stock of $328,000 and a surplus of $40,000; its average deposits were $400,000. The stock was divided into shares of $50 each, and though little trading was done in it, it was quoted at 921/2 asked. When the first rush was made to the bank it was closed and the doors were locked. The rumor soon gained currency and a crowd of anxious depositors congregated in front of the door of the bank. The bank has been rediscounting its own paper for two weeks, showing conclusively that failure was inevitable.

3. March 28, 1895 The Herald Los Angeles, CA
Article from The Herald, March 28, 1895

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Article Text

CANNOT PAY ITS CLEARINGS Suspension of One of the Oldest Banks in Cincinnati CINCINNATI, March 27.-The Commercial bank today notified the clearing house that it could not pay its day's clearings. The Commercial is one of the oldest banks in the city. Later the bank assigned to W. H. Campbell. who was its cashier. Charles B. Foote is president of the bank. Cashier Campbell stated that the bank had but temporarily suspended, and would be all right in a few days. There had been an unusually heavy run on the bank today and it became absolutely necessary to suspend business. He said further that the bank held ample securities to pay out to all depositors in time. Tonight it is reported the affairs of the bank will develop badly. The bank has a paid up capital stock of $328,000 and a surplus of $40,000. Its average deposits are $400,000. It has $900,000 bills receivable, but it is claimed that much of this paper is not good; that the trouble was

4. March 28, 1895 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, March 28, 1895

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Article Text

SUSPENDS TEMPORARILY. Assignment of the Commercial Bank to Its Cashier. CINCINNATI, OHIO, March 27.-The Commercial Bank to-day notified the Clearing-house that it could not pay its day's clearings. The Commercial is one of the oldest banks in the city. Later the bank assigned to W. H. Campbell, who was its cashier. Charles S. Foote is president of the bank. Cashier Campbell stated that the bank had but temporarily suspended, and would be all right in a few days. There had been an unusually heavy run on the bank to-day, and it became absolutely necessary to suspend business. He said, further, that the bank held ample securities to pay out to all depositors in time.

5. March 28, 1895 Pawtucket Tribune Pawtucket, RI
Article from Pawtucket Tribune, March 28, 1895

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Article Text

Old Institution Embarrassed. CINCINNATI, March 28.-The Commercial bank yesterday assigned to W. H. Campbell, its cashier. Cashier Campbell stated that the bank had temporarily suspended payment, and would be all right in a few days. The Commercial bank was founded in 1831. A number of old-time solid financiers have been identified with the institution.

6. March 28, 1895 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, March 28, 1895

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Article Text

BANK GOES UP. Cincinnati, March 27.-The Commercial bank today notified the clearing house that it could not pay its day's clearings. The Commercial is one of the oldest banks in this city. Later the bank assigned to W. H. Campbell, who was its cashier; Charles B. Foote is president of the

7. March 28, 1895 The Washington Times Washington, DC
Article from The Washington Times, March 28, 1895

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Article Text

Another Big Bank Embarassed. Cincinnati, Ohio, March 27.-The Commercial Bank to-day notified the clearing house that it could not pay its day's clearings. Later the bank assigned to W. H. Campbell, who was cashier of the bank. Charles B. Foote is president of the bank, and W. H. Campbell cashier.

8. March 28, 1895 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, March 28, 1895

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Article Text

BANK ASSIGNS. Cincinnati, March 27.-The Commercial bank, one of the oldest In the city, today assigned to W. H. Campbell, its cashier. Charles B. Foote Is president of the bank.

9. March 28, 1895 The Daily Morning Astorian Astoria, OR
Article from The Daily Morning Astorian, March 28, 1895

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Article Text

CINCINNATI BANK FAILS. Cincinnati, March 27.-The Commercial Bank today notified the clearing house that it could not pay its day's clearings. The Commercial is one of the oldest banks in the city. Later the bank assigned to W. H. Campbell, who was its cashier. Cashier Campbell stated that the bank had but temporarily suspended and W( uld be all right in a few days.

10. March 28, 1895 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, March 28, 1895

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Article Text

Children Cry for Pitcher's Castoria. FAILED AFTER SIXTY YEARS. One of Cincinnati's Oldest Banks in Trouble. CINCINNATI. O., March 27.-The Commercial bank today notified the clearing house that it could. not pay its day's clearings. The Commercial is one of the oldest banks in this city. It is stated that the affairs of the bank have been looked into somewhat by other banks, and it was concluded that the banks could do nothing to relieve the situation in the condition of the Commercial. Later the bank assigned to W. H. Campbell, who was cashier of the bank. Charles B. Foote is president of the bank. Cashier W.H. Campbell stated that the bank had but temporarily suspended and would be all right in a few days. There has been an unusually heavy run on the bank today and it became absolutely necessary to suspend business. He said further that the bank had ample securities to pay out to all depositors in time. The Commercial bank was founded in 1831, and succeeded the branch of the United States bank when the latter went out of business by buying the building. A number of oldtime solid financiers have been identified with the institution, among them Jacob Strader, Capt. Hall, Ethan Stone, Elliott H. Pendleton, Hugh Colville, Armstrong and contemporaries. A number of the larger estates of the city and the Ohio valley are customers of the bank.

11. March 29, 1895 Little Falls Weekly Transcript Little Falls, MN
Article from Little Falls Weekly Transcript, March 29, 1895

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Article Text

Cincinnati Bank suspends. CINCINNATI, March 28.-The Commercial bank notified the clearinghouse that it could not pay its day's clearings. The Commercial is one of the oldest banks in the city. Later the bank assigned to W. H. Campbell, who was cashier of the bank. Charles B. Foote is president of the bank.

12. March 30, 1895 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, March 30, 1895

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Article Text

Other Business Troubles. CINCINNATI, March 29.-Receiver W. H. Campbell, of the Commercial Bank, was before the Insolvency Court, to-day, to testify on the deposits received Wednesday afternoon, after the clearing house had refused to honor the checks on the Commercial Bank. Benjamin Dale, for himself and clients, deposited over $14,000 at 2 p. m. on that day. It was not entered in his bank book, but put in an envelope. To-day he sued to recover the same, claiming it was not deposited. Dale's suit will be made a test case for all deposits made after 1:30, Wednesday, the hour of the action of the clearing house. BRISTOL, Tenn., March 29.-The Bristol Bank and Trust Company made a general assignment to-day for the benefit of its creditors. The total assets are $50,159; liabilities, $24,720; due to depositors, $16,900. Included in the assets is the bank's building, valued at $23,000. This is the second time this bank has closed its doors within fifteen months. TOPEKA, Kan., March 29.-Bank Commissioner Breidenthal has received notice of the suspension of the Bank of Canton, McPherson county, the property of two brothers named Gray. Its capital stock is $6,000, and its deposits, when it made its last report, were about $17,000. It had no authority from the Bank Commissioner to run. CLEVELAND, O., March 29.-A. H. Stefe & Co., wholesale glove dealers, at No. 119 Bank street, assigned for the benefit of their creditors to R. R. Holden to-day. The concern is one of the oldest in the city. Assets were said to be about $40,000 and liabilities more than that.

13. April 4, 1895 The Gold Leaf Henderson, NC
Article from The Gold Leaf, April 4, 1895

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Article Text

Commercial Bank, Cincinnati, Assignes. CINCINNATI, O., March 28.-The Commercial bank, located at 133 Main street, assigned yesterday afternoon to W. H. Campbell, its cashier. The decision to go out of business was reached but half an hour before the assignment was made.

14. April 5, 1895 Great Falls Weekly Tribune Great Falls, MT
Article from Great Falls Weekly Tribune, April 5, 1895

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Went Broke. CINCINNATI, Ohio, April 2.-George C. Millers Sons, among the oldest carriage manufacturers of the city, assigned today to Howard S. Miller, treasurer. The immediate cause is the suspension of the Commercial bank, which carried a large amount of the firm's paper. The assets and liabilities are each between $20,000 and $30,000.

15. April 5, 1895 Cottonwood Report Cottonwood, ID
Article from Cottonwood Report, April 5, 1895

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ANOTHER BANK FAILURE. One of Cincinnati's Oldest Banks Forced to Suspend. CINCINNATI, March 29.-The Commercial bank to-day notified the clearinghouse that it could not pay its day's ciearings. The Commercial is one of the oldest banks in the city. Later the bank assigned to W. H. Campbell, who was its cashier. Charles B. Foote is president of the bank. Charles Campbell stated that the bank had but temporarily suspended, and would be all right in a few days. There had been an unusually heavy run on the bank today, and it became absolutely necessary to suspend business. He said further that the bank had ample securities to pay all depositors in time. It is reported the assets of the bank will develop badly. The bank has a paid-up capital stock of $328,000 and a surplus of $40,000. Its average deposits are $300,000. It has $900,000 bills receivable, but it is claimed that much of this paper is not good, The trouble is said to have been precipitated by the bank being compelled to make $50,000 of bad paper good yesterday. The directors are Charles B. Foote, a relative of the late Senator Pendleton; W. A. Peerrum, J. B. Specker, A. B. Ratterman and A. B. Hall, who all tried to prevent the run. The adverse report of the clearing-house to-day precipitated the trouble. It is the general opinion that the liabilities will greatly exceed the available assets.

16. April 6, 1895 The Coeur D'alene Press Coeur D'alene, ID
Article from The Coeur D'alene Press, April 6, 1895

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Article Text

ANOTHER BANK FAILURE. One of Cincinnati's Oldest Banks Forced to Suspend. CINCINNATI, March 29 -The Commercial bank to-day notified the clearing. house that it could not pay its day's ciearings. The Commercial is one of the oldest banks in the city. Later the bank assigned to W. H. Campbell, who was its cashier. Charles B. Foote is president of the bank. Charles Camp. bell stated that the bank had but temporarily suspended, and would be all right in a few days. There had been an unusually heavy run on the bank today, and it became absolutely necessary to suspend business. He said further that the bank had ample securities to pay all depositors in time. It is reported the assets of the bank will develop hadly. The bank has a paid-up capital stock of $328,000 and a surplus of $40,000. Its average deposits are $300,000. It has $900,000 bills receivable, but it is claimed that much of this paper is not good, The trouble is sail to have been precipitated by the bank being compelled to make $50,000 of bad paper good vesterday. The directors are Charles B. Foote, a relative of the late Senator Pendleton; W. A. Peerrum, J. B. Specker, A. B. Ratterman and A. B. Hall, who all tried to prevent the run. The adverse report of the clearing-house to day precipitated the trouble. It is the general opinion that the liabilities will greatly exceed the available assets.

17. April 28, 1895 The Washington Times Washington, DC
Article from The Washington Times, April 28, 1895

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Article Text

Some Comfort for Depositors. Cincinnati, April 27.-The apraisement of the lately suspended Commercial bank has been filed, showing assets valued at $440,000. The liabilities are placed at $600,000. Notice has been given of a 10 per cent. dividend to depositors, payable May 11.

18. April 28, 1895 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, April 28, 1895

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Appraisement Filed. CINCINNATI, O., April 27.-The appraisement of the lately suspended Commercial bank has been filed, showing assets valued at $440,000. The liabilities are placed at $600,000. Notice has been given of a 10-per-cent dividend to depositors, payable May 11.