Peoples Bank (North Baltimore, OH)

Episode Information

Episode UID
1276814591121
Episode Type
Run → Suspension → Unsure
Bank Type
state
Bank ID
127681459 hash
Start Date
May 26, 1893
Location
North Baltimore, Ohio (41.183, -83.678)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
3ad7a8c4cd595c40

Response Measures

None

Description

Contemporary reports conflict: some say the bank reopened, others report it closed and likely failed.

Events (2)
1. May 26, 1893 Run
Cause
Bank Specific Adverse Info
Cause Details
Run triggered by failures/financial involvement with Charles Foster and the North Baltimore Furniture Company
Newspaper Excerpt
The People's Bank ... stood a heavy run yesterday
Source
newspapers
2. May 27, 1893 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed after heavy run and losses linked to Charles Foster's failure and related exposures
Newspaper Excerpt
The People's Bank of North Baltimore closed its doors this morning. The announcement was made that Cashier Waldo had gone to raise money and that it would reopen.
Source
newspapers

Newspaper Articles (13)
1. May 27, 1893 Wheeling Register Wheeling, WV
Article from Wheeling Register, May 27, 1893

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Article Text

Caused North Baltimore Bank's Failure FINDLAY, O., May 26.-President LloydWeisel, of the People's Bank at North Baltimore, which carries very heavy deposits of the oil producers in the oil country, was here this evening endeavoring to procure aid. Failing to secure this he announced that his bank would close its doors to-morrow morning, having been dragged down by the failure of Foster. The bank was heavily involved by the failure of the North Baltimore Furniture Company, and the second blow made a run upon to-day, which it will not be able to stand to-morrow. Charles Foster was a stockholder in the bank. Oil operaters and producers will lose many thousands. Findlay banks are unaffected by the Foster failure.

2. May 27, 1893 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, May 27, 1893

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Article Text

A Bank Closes. TOLEDO, May 27. - The People's bank, North Baltimore, closed its doors this morning. The announcement WRS made that the cashier had gone to raise money and the bank would reopen. The closing WES precipitated by the failure of ex-Secretary Foster, who is a heavy stockholder. This bank holds many thousands of dollars of deposits of coal operators and producers. A run was started on the only other bank in North Baltimore, but it la promptly meeting all demands.

3. May 27, 1893 The Sun New York, NY
Article from The Sun, May 27, 1893

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Article Text

business and political friends. Since then he has attempted to recoup his losses. but only became more deeply involved. The crash was temporarily averted by his appointment as Secretary of the Treasury. FINDLAY. O., May 26.-President Lloyd Weisel of the People's Bank at North Baltimore. which carries very heavy deposits of the oil producers in the oil country. was here this evening endeavoring to procure nid. Failing to secure this, he announced that his bank would close its doors to-morrow morning. having been dragged down by the failure of ex-Secretary Foster of Fostoria. The bank was heavily involved by the failure of the North Baltimore Furniture Company. and the second blow made a run upon it to-day which it will not be able to stand tomorrow. Charles Foster was a stockholder in the bank. Oil operators and producers will lose many thousands. Findlay banks are unaffected by the Foster failure. WASHINGTON. May 26.-Much sympathy is expressed here for ex-Secretary Foster. Esspecially is this the case in the Treasury Department. where Mr. Foster was personally very popular. Inquiry at the office of the Comptroller of the Currency develops the Ifact that the only national bank in Fostoria. Ohio, is the First National Bank. and upon the last call that bank had 35 per cent. of reserve on hand. when the legal requirement was only 15 per cent. It is not anticit ated that the failure of the Foster Banking Company will affect this bank in any way.

4. May 27, 1893 Evening Star Washington, DC
Article from Evening Star, May 27, 1893

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Article Text

MR. FOSTER'S FINANCIAL AFFAIRS. Their Condition Much Worse Than Was Thought at First. FOSTORIA, OHIO, May 27.-J. B. Gormley, the assignee of ex-Secretary Foster, states that further investigation shows affairs to be in even worse shape than had been at first thought, and that the liabilities would reach 8800,000 and possibly $1,000,000. with assets much less. CLEVELAND, OHIO, May 27.-In response to a telegram sent him by an afternoon paper, exSecretary Foster answered as follows: "Thanks for your offer of space. My present mental distress precludes acceptance of your kind offer. "My failure simply illustrates the great folly of permitting one's self to be in debt beyond the reach of reasonably quick assets for relief when the hour of difficult borrowing comes. When people are in such condition and the stability of ezisting finaneial conditions is shaken, the principal reason is inability to borrow. suspension and failure. "Business is largely done with borrowed money. Confidence in the maintenance of sound financial conditions is essential to legitimate lending. That public confidence has for some time been sheken in the abilitv or capacity of the government to maintain gold payment is evident. The natural impulse of banks in such times is to strengthen themselves against some possible and unusual draft. Then comes inability to borrow, decline in prices, suspension and bankruptcy follow. "The country is possessed of enormous resources. which are at the command of the government. and it should say and act in terms and ways that will satisfy the country without ambiguity or uncertainty that gold payments will be maintained. CHARLES FOSTER." (Signed) FINDLAY. OHIO, May 27.-The People's Bank of North Baltimore, in which ex-Secretary Foster held $10,000 stock. stood a heavy run vesterday and it was feared would be comcelled to suspend. The bank opened for business as nsual this morning, however, and its directors announce their ability to pull through the financial storm safely. CLEVELAND. May 27.-A special to the Plain Dealer from Fostoria, Ohio, says: The situation here today so far as the Foster failare is concerned presents but little change from last evening. There is a general feeling of uneasiness in all branches of trade. but very little excitement is noticeable in the streets or elsewhere. Gov. Foster said this morning that he had no new statements to make. but would wait now for Assignee Germley to make his report. The banks have so far. with the exception of Foster & Company's, experienced no trouble. and the Mechanics' Savings Bank, upon which something of a run was made yesterday, report that they are receiving more deposits today than they have paid out and on Monday they expect to open up as a general banking company. Money is very tight here. however, and the greatest trouble is apprehended from the fact that loans are very difficult to obtain and business men who, by the means of a little assistance, might be able to pull through, may be embarrassed thereby.

5. May 28, 1893 Grand Rapids Herald Grand Rapids, MI
Article from Grand Rapids Herald, May 28, 1893

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Article Text

Run on a Pindlay Bank. FINDLAY, Ohio, May 27 The People's bank of North Baltimore, in which exSecretary Foster held $10,000 stock. stood a heavy run yesterday, and it was feared would be compelled to suspend, The bank opened up as usual for busi nees this morning, however, and its di rectors announce their ability to pull through.

6. May 28, 1893 Wheeling Sunday Register Wheeling, WV
Article from Wheeling Sunday Register, May 28, 1893

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Article Text

North Baltimore Bank Closed. TOLEDO, O., May 27.-The People's Bank of North Baltimore closed its doors this morning. The announcement was made to the depositors that Cashier Walde had gone to raise money to meet all liabilities and that it would reopen. The closing is precipitated by the failure of Charles Foster, who is a heavy stockholder. This bank has many thousands of dollars of deposits of oil operators and producers, and if it is a failure, as everybody supposes, their losses will be heavy. A tremendous run was started on the Frst National bank, the only other bank In North Baltimore, but it is promptly meeting all demands as fast as presented.

7. May 28, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, May 28, 1893

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Article Text

AN OHIO BANK CLOSES. The Closing Precipitated by the Foster Failure. TOLEDO, O., May 27.- - The People's bank, North Baltimore, closed its doors this morning. The announcement was made that the cashier had gone to raise money and the bank would reopen. The closing was precipitated by the failure of ex-Secretary Foster, who is a heavy stockholder. This bank holds many thousands of dollars of deposits of coal operators and producers. A run was started on the only other bank in North Baltimore, but it is promptly meeting all demands.

8. May 29, 1893 Santa Fe Daily New Mexican Santa Fe., Santa Fe, NM
Article from Santa Fe Daily New Mexican, May 29, 1893

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Article Text

Bank Failures. BRUNSWICK, Ga., May 29.-The Brunswick State bank failed to open to-day. Investigation is now being made into its business. State funds to the amount of $30,000 are deposited in it. Toledo, Ohio.- - The People's bank of North Baltimore, has closed its doors. The announcement was made to depositors that Cashier Waldo had gone to raise money to meet all liabilities and that they would re-open. The closing was precipitated by the failure of Charles Foster, who is a heavy stockholder. This bank has many thousands of dollars of deposits of oil operators and producers, and their loss will be heavy. A tremendous run was started on the First National bank, the only other bank in North Baltimore, but it is promptly meeting all demands as fast as presented.

9. May 29, 1893 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, May 29, 1893

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Article Text

Probably Pull Through. FINDLAY, May 29.-The People's bank of North Baltimore, in which ex-Secretary Fostor had $10,000 stock, stood a heavy run Friday and it was feared would be compelled to suspend. The bank directors announce their ability to pull through the financial storm safely.

10. May 31, 1893 The Indiana State Sentinel Indianapolis, IN
Article from The Indiana State Sentinel, May 31, 1893

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Article Text

The Bank Must Close Its Doors. FINDLAY, O., May 26.-President Lloyd Weisel of the People's bank at North Baltimore, which carries very heavy deposits of the oil producers in the oil country, was here this evening endeavoring to procure aid. Failing to secure this he announced that his bank would close its doors tomorrow morning, having been dragged down by the failure of Ex-Secretary Charles Foster of Fostoria. The bank was heavily involved by the failure of the North Baltimore furniture company, and the second blow made a run upon it 10day which it will not be able to stand tomorrow. Charles Foster was a stockholder in the bank. Oil operators and producers will lose many thousands. Findlav banks are unaffected by the Foster failure.

11. June 1, 1893 Eagle River Review Eagle River, WI
Article from Eagle River Review, June 1, 1893

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Article Text

CARRIED DOWN BY FOSTER. A Bank at North Baltimore Wrecked by the Fostoria Failure. TOLEDO, O., May 27.-The People's Bank of North Baltimore closed its doors this morning. The closing is precipitated by the failure of Charles Foster, who is a heavy stockholder. This bank has heavy deposits of oil operators and producers. A tremendous run was started on the First National Bank in North Baltimore, but it is meeting all demands.

12. June 1, 1893 Courier Democrat Langdon, ND
Article from Courier Democrat, June 1, 1893

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A Bank Will Suspend. Findlay. Ohio. May 2.7President Lloyd Weisel, of the People's bank at North Baltimore, which carried very heavy deposits of the oil producers in the oil country, was here this evening endeavoring to procure aid. Failing to secure this he announced that his bank would close its doors to-morrow morning. having been dragged down by the failure of ex-Secretary Charles Foster of Fostoria. Charles Foster was a stockholder in the bank. Oil operators and producers will lose many thousands. Findlay banks are unaffected by the Foster fail-ure.

13. June 1, 1893 The Russellville Democrat Russellville, AR
Article from The Russellville Democrat, June 1, 1893

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Article Text

BANK FAILURE. It Caused a Tremendous Run on the Only Other Bank in Town. TOLEDO, May 27.-The People's Bank of North Baltimore, O., closed doors this morning. The announcement was made to depositors that Cashier Waldo had gone to raise money to meet liabilities and it would re-open. The closing was precipitated by the failure of Charles Foster, who was a heavy stock. holder. This bank had many thousand dollars in deposits of oil operators and producers, and if it is a failure, as everybody supposes, the loss will be heavy. A tremendous run has started on the First National Bank, the only other in North Baltimore, but it is promptly meeting all demands as fast as presented.