Miami Valley Bank (Dayton, OH)

Episode Information

Episode UID
5225937590693
Episode Type
Suspension β†’ Closure
Bank Type
state
Bank ID
522593759 hash
Start Date
September 10, 1857
Location
Dayton, Ohio (39.759, -84.192)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
45d306cf5c3550bb

Response Measures

None

Events (1)
1. September 10, 1857 Suspension
Cause
Macro News
Cause Details
Suspension occurred during the widespread financial crisis/panic of 1857 that produced many bank failures and suspensions nationally.
Newspaper Excerpt
The Miami Valley Bank (Independent) has suspended.
Source
newspapers

Newspaper Articles (10)
1. September 11, 1857 New Orleans Daily Crescent New Orleans, LA
Article from New Orleans Daily Crescent, September 11, 1857

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Article Text

Telegraphed to the New Orleans Crescent. FOREIGN SHIPPING INTELLIGENCE. [BY THE NATIONAL LINE.] LIVERPOOL, Aug. 29.-The Linda, from New Orleans, has arrived at Barcelona ; the Lason at Bordeaux, and the Neptune at Texel. The Magic Pill sailed from Liverpool for New Orleans on the 26th. The C. H. Pennel, from Liverpool for New Orleans, the 27th. Loss of a New Orleans Ship. The ship Lexington, from New Orleans for Liverpool, with 1,100 bales of cotton, went ashore in Brandon Bay. The crew were all saved. Another Suspension. DAYTON, Ohio, Sept. 10.-The Miami Valley Bank (Independent) has suspended. Liabilities unknown, but certainly large. Steamship Clyde Disaster. QUEBEC, Sept. 10.--The Captain of the steamer Clyde has arrived here and reports that the steamer, cargo and mails, with the passengers' baggage are all a total loss. Mrs. Cunningham Indicted. NEW YORK, Sept. 10.-The Grand Jury has returned a true bill against Mrs. Cunningham for producing a suppositious heir to the Burdell estate. New York Democratic Convention. SYRACUSE, Sept. 10.-The Democratic State Convention met here to-day. When the New York city delegation reached the room confusion commenced, and a recess was taken. After the adjournment a row took place on the platform between the friends of Mayor Wood and Dan E. Sickles. More Failures. NEW YORK, Sept. 10.-The Bank of New Jersey at Brunswick has failed. Fred. G. Swan, of this city, commission merchant, hat failed. Massachusetts Politics. BOSTON, Sept. 10.-Gov. Henry Gardner has received the nomination for Governor from both wings of the American party. Minnesota Politics. CHICAGO, Sept. 10.-Ex-Gov. Ramsay was yesterday nominated by the Republican State Convention of Minnesota for Governor. Domestic Markets. NEW YORK, Sept. 10.-Cotton is dull; Orleans Middling 16, Upland Middling 153. Flour is unsettled. White Wheat $1 35 to $1 50 Red $1 25 to $1 34. Corn 69 to 713c. Mess Pork unchanged. Coffee 103 to 11c. Sugar steady. Chicago Beef $21 50. Bacon steady; Western Smoked 15c ; Hams 12c. CINCINNATI, Sept. -Flour sold at $4 50, but closed unsettled at $4 30 to $4 40. Wheat unsettled; Red 75; White 85 to 90. Whisky 201 to 21. Racon is higher. Linseed Oil 68. Oats 30 to 35. Rye 65. River Intelligence. VICKSBURG, Sept. 10.-The Woodford passed down at 2 o'clock A. M.

2. September 11, 1857 The Evansville Daily Journal Evansville, IN
Article from The Evansville Daily Journal, September 11, 1857

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Suspended. 4818 CINCINNATI, Sept. 10-M. The Miami Valley Bank of Dayton, has suspended. ANDINA START

3. September 11, 1857 Wheeling Daily Intelligencer Wheeling, WV
Article from Wheeling Daily Intelligencer, September 11, 1857

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SUSPENDED. CINCINNATI, Sept. 10.:-The Miami Valley Bank at Dayton, has suspended. 00018

4. September 11, 1857 Daily Nashville Patriot Nashville, TN
Article from Daily Nashville Patriot, September 11, 1857

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BY TELEGRAPH. BY THE NATIONAL LINE. [Reports Furnished by the Associated Press.] FURTHER NEWS per EUROPA. Halifax, September 9.-John Doberty, who failed at Liverpool, was arrested for swindling. The India mail had arrived. Delhi was still held by the mutineers on the 14th of July. They made three additional sorties, but were defeated. Sir Hugb Wheeler was killed at Cawnpore. The garrison there bad been reduced to famine, and surrendered to Heria Sahib, who, in violation of bis promise, massacred the whole garrison. General Haversock subsequently defeated Sahib with great loss. Sabib massacred at Cawnpore two hundred and forty women and children. Among the officers killed are, Sir George Parker, Col. Williams, and Brigadier Yack. An obstinate battle Was fought on the 5th of July before Agra, between the garrison and Memush, the mutineers numbering ten thousand. The British retreated with a heary loss. Two regiments mutinied at Seal Kate, in Punjaub, July the 9th, massaereing Capt. Bishop, Dr. Grsham, and the Rev. Mr. Hunt and his wife and child. The mutineers subsequently were defeated. Other disturbances are reported else where. Bombay, Madras, and the Punjaub are tranquil. Gen. Valicio was to succeed in command before Delbi, where only two thousand effective men could be mustered. CHINA.-Lord Elgin arrived at Hong Kong on the second, and was about to proceed southward. The new Cuban Governor embarks in September, and will take out the ultimatum between Spain and Mexico. NEW YORK, Sept. 10.-The ship Lexington from New Orleans for Liverpool, went ashore in Bantry Bay. Her cargo, 1100 bales of cotton, and crew, were saved. CINCINNATI, Sept. 10.-The Miami Valley Bank at Dayton, Ohio, has suspended. QUEBEC, Sept. 10.-The captain of the steamer Clyde has arrived. He reports that the steamer, cargo, mails, and passenger's baggage is a total loss. NEW YORK Sept. 10.-The Grand Jury have indicted Mrs. Cunningham for producing a supposittous heir to the Burdell estate. - NEW York, Sept. 10.-The Bank of New Jersey at Brunswick failed. Frederick G. Swan commission merchant has also failed.

5. September 15, 1857 The Davenport Daily Gazette Davenport, IA
Article from The Davenport Daily Gazette, September 15, 1857

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LOCAL MATTERS. The Miami Valley Bank, at Dayton, Ohio, suspended on Thursday. We also learn that the Agricultural Bank, located at Browns ville, Tennessee, has failed.

6. September 19, 1857 The New York Herald New York, NY
Article from The New York Herald, September 19, 1857

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The Union Straw Works, or Foxboro, suspended on Monday for all pay ments over $100. the failure of Car center, Ede & Co, of New York, was the immediate cause. We bear that the Ellenville Glass Company, an institu tion which bar always bitherto had the best business charecter, has suspended. The company is said is be indebted to the Hugsenet Bank about $30,000. Mr. John Woolley, proprietor of the Bank of the Capt. tol, Indianapolis, Ind., failed on the 14th inst. The circulation of the bank is small, and is secured by the deposit of Sate stocks. The liabilities of the Citizens' Bank of Oincinna I are stated at $484,432, and the assets at $987,410. The suspension of Charles H. Mills & Oo, dry goods dealers at Boston, was announced yestersday by telegraph. Messrs. Tyler & Wild, shoe dealers, of Rochester, failed on Tuesday. The Chicago Tribune reports the sale of the St. Clair Railread, in St Clair county, Illinois, for $10,300. Messrs houteau, Harrison & Valle, of St. Louis, were the purcha-ers. The Miami Valley Bank at Dayton is reported suspend ed. The Cleveland Plaindeater says the bills are good if the securities have not been swapped off. The Evening Journal corrects the erroneous statement of the circulation of the banks retarned at the depart ment, for which securities have been surrendered, and given the Sgures from the department:Burned circulating notes of free banks from August 15 $960,000 to Sept. 16 501,008 Block surrendered during same period 110,000 Bonds and moriganes Total securities surrendered $611,000 In addition to the above, the incerporated banks have $169 000 returned 60,000 They have received new notes $119,000 Total

7. September 22, 1857 Arkansas True Democrat Little Rock, AR
Article from Arkansas True Democrat, September 22, 1857

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Bank Suspension. Cincinnati, Thursday, September 10. The Miami Valley Bank at Dayton, Ohio, has suspended. Bank Failure, etc.

8. September 26, 1857 Columbia Democrat and Bloomsburg General Advertiser Bloomsburg, PA
Article from Columbia Democrat and Bloomsburg General Advertiser, September 26, 1857

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W. A. J. BRITTAIN, Sec'y. Suspended and Broken Banks. For the information of our readers, and in order to guard them against receiving worthless money, we publish the following list of recently suspended and broken Banks, which has been carefully compiled and compared with the list of the brokers in the city. It is gratifying to note that thus far in the present financial crisis, not a single Pennsylvania Bank is included in the list It is to be hoped they will be able to ride out the storm. Mechanics' Banking Association, N. Y. Farmers' Bank of Saratoga county, N. Y. Sacketts Harbor Baok, Buffalo, Reciprocity Bank, Buffalo. Chemung County Bank, Horseheads, N. Y. Ontario Bank, Vica, N. Y. Ontario County Bank, Phelps, N. Y. Oliver Lee & Co.'s Bank, Buffalo, N. V. Hollister Bank, Buffalo. Niagara River Bank, Towanda, N. Y. Bank of Orleans, Albion, N. Y. Huguenot Bank, New Paltz, N. Y. New-York County Bank, N. Y. Farmers' Bank, Wickford, B. I. Mount Vernon Bank, Providence, R. I. Rhode Island Central Bank, East Greenwich, R. I. Bank of South County, Wakefield, R. I. Warwick Bank, Warwick, R. I. Tiverton Bank, Tiverton, R. I. Bank of Hallowell, Maine. Hancock Bank, Ellsworth, Maine. Danby Bank, Danby, Vt. Bergen County Bank, Hackensack, N. J. Bank of New Jersey, New Brunswick, N. J. Merchants Exchange Bank, Bridgeton, Ct. Wooster Bank, Wooster, Ct. Sanford Bank, Sanford, Maine. Monson River Bank, Monson, Mass. Kanawha Bank, Virginia. Miama Valley Bank, Dayton, Ohio. S Bank of West Tennessee, Memphis, Tenn. a Agricultural Bank, Brownsville, Tenn, d Bank of Commerce, Georgetown, D.C. Colchester Bank, Connecticut.

9. October 9, 1857 Vermont Watchman and State Journal Montpelier, VT
Article from Vermont Watchman and State Journal, October 9, 1857

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LIST OF SUSPENDED BANKS TO SEPT. 25TH. Meusam River Bank, Sanford, Maine. Canton Bank, South China, Maine. Ellsworth Bank, Maine. Exchange Bank, Bangor, Maine. Sanford Bank, Sanford, Maine. Exter Bank, New Hampshire. Danby Bank, Vermont. South Royalton Bank, Vermont. Bank of the Republic, Providence, R. I. Bank of South County, Wakefield, R. I. Farmers' Bank, Wickford, R. 1. Mount Vernon Bank, Providence, R. I. Tiverton Bank, Fall River, R. I. Warwick Bank, Warwick, R. I. Merchants' Exchange Bank, Bridgeport, Ct. Colchester Bank, Conn. Bank of Orleans, Albion, New York. Hollister Bank, Buffalo, New York. Niagara River Bank, Tonawanda, N. Y. Oliver Lee & Co.'s Bank, Buffalo, N. Y. Ontario County Bank, Phelps, N.Y. Ontario Bank, Utica, N. Y. Reciprocity Bank, Buffalo, N. Y. Sackett's Harbor Bank, Buffalo, N. Y. American Bank, Trenton, N. J. Bank of New Jersey, New Brunswick, N.J. Bergen County Bank, Hackensack, N. J. Bank of Kanawha, Virginia. Trans-Allegany Bank, Virginia. Bank of Commerce, Georgetown, D. C. Canal Bank, Cleveland, Ohio. City Bank, Cincinnati, Ohio, Seneca County Bank, Tiffin, Ohio. Miami Vally Bank, Dayton, Ohio. Clinton Bank, Columbus, Ohio. Columbus City Bank, Columbus, Ohio. Union Bank, Sandusky, Ohio. Agricultural Bank, Brownsville, Tenn. Bank of West Tennessee. Bank of the Capitol, Indianapolis, Ia. Central Bank, Indianapolis, la. Bank of Elgin, Elgin, Illinois. Rock River Bank, Beloit, Wisconsin. Pennsylvania Bank, Philadelphia. Girard Bank, Phiadelphia. Bank of Canandaiagua, Canandaigua. Western Bank, Lockport, N.Y. Commercial Bank, Philadelphia. Six Penny Savings Bank, Rochester, N. Y. Albany Eve. Journal.

10. February 4, 1858 M'arthur Democrat McArthur, OH
Article from M'arthur Democrat, February 4, 1858

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Depreciated Currency. We take the following from the Cleveland Plain Dealer. Most of the currency in circulation in this city is notes on the following suspended banks: Canal Bank, Cleveland. Seneca County Bank, Tiffin. Union Bank, Sandusky. Sandusky City Bank, Sandusky, Dayton Bank, Dayton. Miami Valley Bank, Dayton, Clinton Bank, Columbus. The Canal Bank failed years agothe time allowed for closing up its affairs has expired-the stocks pledged for the redemption of its bills have been sold, and the State has the proceeds, but refuses to redeem its notes in anything but currency. What we say of the Canal will apply to most of the other banks named above. Their bills are being bought up from two to twenty-five per cent. discount in Cincinnati and throughout the West, sent here and exchanged for notes of the specie-paying banks of Ohio, Indiana and Kentucky. It is very profitable business for the brokers and banks engaged in it, and will soon bring to this city nearly all the bills these suspended banks have out, and take from us what few notes we now have of specie-paying banks. If we have a check on one of the Cleveland banks for $2,000, probably $1,800, and possibly the whole of it, will be paid us in suspended banknotes-$1,000 of which is only worth in Cincinnati, and at most other points, $970 in gold, or $980 in notes of Ohio, Indiana or Kentucky specie-paying banks. If we object to being paid such stuff, we are told "it is taken by all the banks in this city, and is bankable funds. Our bank financiers may be. pursuing the right course, but we differ from them. We say, throw out the notes of all non-specie paying banks. The State authorities should at once dispose of, for coin, the securities held for the redemption of the notes of the above named banks, and redeem their notes in coin, which will cause them to be sent in rapidly. It is our impression the auditor of State had no legal right to sell the bonds of the Canal Bank for anything but coin, and that he is under obligations to redeem its notes promptly in coin whenever they are presented for redemption, and after they are redeemed, they would not be put in circulation again. The charter of the Clinton Bank of Columbus has expired, and it is time its bills were taken ΠΏΡ€. We think there are no securities pledged for their redemption.