The 12-story brick MERCANTILE LIBRARY BUILDING, 414 Walnut St., is rich in
historical associations. the land on which it stands is part of the
"square" set aside by Losantiville's founders for religious, governmental, and
educational purposes. Here in 1816 the Lancaster Seminary was formally
opened. Four years later Cincinnati College and Medical College of Ohio
were established in the seminary building. Despite fires and a 10-year
shutdown, Cincinnati College gave academic courses until 1845; thereafter only
the law school operated, until it merged with the University of Cincinnati.
Meanwhile, on April 18, 1835, about 45 young men met "for the purpose of
establishing a Library and Reading Room, to be appropriated to the use of young
men engaged solely in mercantile pursuits." (At the time Cincinnati had no
public library.) Soon the founders of the Young Men's Mercantile Library
Association raised $1,800 in subscriptions and bought 700 books; for a while
quarters were maintained in a place on Main Street, near Pearl Street.
In 1840 the Association moved its 1,660 books to the second floor of the
Cincinnati College building, on the present site. Tallow candles and
lard-oil lamps furnished light until gas was introduced sever years later.
On January 19, 1845, the building caught fire; members connected with the
Neptune, Reliance, Water Witch, and Red Rover fire companies fought the fire and
saved the book, though the entire structure burned down.
A new building soon arose on the site and the association was given a
10,000-year lease on second-floor quarters. Membership increased fast, the
peak coming in 1860, when 3,327 persons were on the list. On October 20,
1869, fire wrecked this building. Another took its place and survived
until 1902, when it was torn down and the present structure went up. Still
in effect, and renewable, is the association's 10,000-year lease.
~ from Cincinnati: A Guide to the Queen City and Its Neighbors,
1943, Tour 4, pg 173
The Mercantile Library continues to be located in this building on the
eleventh floor. The 10,000-year lease remains in effect. The
remainder of the building is occupied commercial offices. (Note: The 10,000 year lease is not the longest lease in the world there is one in Ireland for 10 million years :-) )