Summons, 26 Oct. 1837 [Commercial Bank of Lake Erie v. Cahoon et al.]. The Commercial Bank of Lake Erie was established in Cleveland, Ohio, in 1816. The bank failed as a result of the Panic of 1819. It was revived in 1832 by wealthy investors, the Dwight family and George Bancroft, who saw the potential in a Cleveland bank and formed an investor group. They chose Leonard Case as the bank’s president and twelve other prominent Ohio residents as their board of directors. (Scheiber, “Commercial Bank of Lake Erie,” 50–51.)

Scheiber, Harry N. “The Commercial Bank of Lake Erie, 1831–1843.” Business History Review 40, no. 1 (Spring 1966): 47–65.

Summons, 26 Oct. 1837 [Commercial Bank of Lake Erie v. Cahoon et al.]. Both Cahoon and Young were involved with church financial matters in 1837. In January, Cahoon took out a loan that may have been connected to the Kirtland Safety Society. In the spring of 1837, Young joined his cousin Willard Richards on a business mission for the church to settle debts in the eastern United States. ([Reynolds Cahoon et al.] to Commercial Bank of Lake Erie, Promissory Note, Cleveland, OH, 10 Jan. 1837, JS Collection, CHL; see also Documents, Volume 5, Introduction to Part 5: 5 Oct. 1836–Apr. 1837; and Historical Introduction to Power of Attorney to Oliver Granger, 27 Sept. 1837.)

Smith, Joseph. Collection, 1827–1846. CHL. MS 155.

JS and other church leaders had taken out loans from Ohio banks, including the Commercial Bank of Lake Erie, in January 1837, which were likely related to the opening of the Kirtland Safety Society office and intended to bolster its specie reserves. In early January 1837, JS took out a $3,000 loan from the Bank of Geauga and Reynolds Cahoon took out a $1,200 loan from the Commercial Bank of Lake Erie. However, by July 1837, JS had abandoned efforts to stabilize the finances of the failing Kirtland Safety Society. Sometime between June and July 1837, JS and Sidney Rigdon resigned as officers of the institution and were replaced by Warren Parrish and Frederick G. Williams. (Documents, Volume 5, Introduction to Part 5: 5 Oct. 1836–Apr. 1837; Introduction to Bank of Geauga v. JS et al.; [Reynolds Cahoon et al.] to Commercial Bank of Lake Erie, Promissory Note, Cleveland, OH, 10 Jan. 1837, JS Collection, CHL; Historical Introduction to Notice, ca. Late August 1837; Editorial, Elders’ Journal, Aug. 1838, 58.)

Smith, Joseph. Collection, 1827–1846. CHL. MS 155.

For more on the repayment and renegotiation of mercantile debts, see Documents, Volume 5, Introduction to Part 6: 20 Apr.–14 Sept. 1837; Power of Attorney to Oliver Granger, 27 Sept. 1837; Statement of Account from Perkins & Osborn, ca. 29 Oct. 1838; and Agreement with Mead & Betts, 2 Aug. 1839.

Mortgage to Mead, Stafford & Co., 11 July 1837.

See Introduction to Documents, Volume 5: October 1835–January 1838.

The suit claimed $1,230, which was $5 higher than the original debt.

Summons, 26 Oct. 1837 [Commercial Bank of Lake Erie v. Cahoon et al.]. It is unclear from the return notation whether the summons was served by Sheriff Abel Kimball or Deputy Sheriff Jabez A. Tracy.

Minutes, 6 Nov. 1837.

Declaration, ca. 4 Dec. 1837 [Commercial Bank of Lake Erie v. Cahoon et al.].

Transcript of Proceedings, ca. 3 Apr. 1838 [Commercial Bank of Lake Erie v. Cahoon et al.].