Considered to be a banking genius, C. M. Spitzer and his father opened the German-American Bank in Cleveland in 1877. It failed in 1880, following an "almost" panic in the United States on November 21, 1879. In an effort to pay all the bank's creditors, Spitzer liquidated his personal assets, including, according to the Cleveland Leader edition of January 29, 1880, the "beautiful residence, just west of [Franklin] Circle" that he had recently built. Spitzer went on to have a brilliant banking and business career in Boston, and in Medina and Toledo, Ohio. | Source: Winter, Nevin Otto, A History of Northwest Ohio, Vol. 2. Chicago and New York: The Lewis Publishing Company, 1917.Download Original File
Source
Winter, Nevin Otto, A History of Northwest Ohio, Vol. 2. Chicago and New York: The Lewis Publishing Company, 1917.
