Ohio Merchants Trust Company (Massillon, OH)

Episode Information

Episode UID
1608975991582
Episode Type
Run โ†’ Suspension โ†’ Reopening
Bank Type
trust
Bank ID
160897599 hash
Start Date
October 1, 1931*
Location
Massillon, Ohio (40.797, -81.522)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
b1327f32dc4b5d2c

Response Measures

None

Description

The bank suspended in October 1931 due to frozen assets and runs during a period of local panic, and was scheduled for reopening in late 1932.

Events (3)

1. October 1, 1931* Run
Cause
Macro News
Cause Details
Panicky condition of the public mind and heavy runs on financial institutions in 1931.
Newspaper Excerpt
ten banks which temporarily closed their doors in 1931, a result of the panicky condition of the public mind, which started heavy runs on many financial institutions
Source
newspapers
2. October 22, 1931 Suspension
Cause Details
Frozen assets and panicky public mind leading to runs.
Newspaper Excerpt
Ohio banks turned over to the State Banking Department today for liquidation. They were... the Ohio Merchants Trust Co. Massillon
Source
newspapers
3. November 4, 1932 Reopening
Newspaper Excerpt
Six more state banks are scheduled to be reopened for business within a few weeks... The Ohio Merchants Trust Co., Massillon
Source
newspapers

Newspaper Articles (3)

Article Text

OCTOBER 1931 PAGE WAY Burial of Thomas A. Edison at West Orange, BORNE Mrs. Hoover Among Small Group Admitted to Final Service in West Orange, Cemetery. GUARD OF HONOR PLACED AT TOMB Favorite Airs of Old Inventor Played at Simple Funeral Conductby Old Friends. the Associated Press. WEST ORANGE Oct. Alva Edison. inventor, buried dusk terday Rosedale Cemetery. His widow kissed the casket was about to be lowered into the grave, then placed upon white rosebud. Four hundred of his friends crowded the drawing Edison always called parlor" the Edison the simple The Rev. Dr. Stephen Herben read the service and spoke the prayer: and there the music of Bach and BeethoMrs. Edison. Mrs. Hoover. wife the President: Henry Ford and Harvey Firestone were the family group in room upstairs listening the services carried them by an amplifying Other friends presCharles M. Owen Young. Samuel Insull Adolph Ochs and Arthur Brisbane. Just before the funeral Col. Francois Pillon. officially reprethe French and his aid were ushered into the where Mr. Edison's body lay. They stood for moment at the bier then were taken upstairs to the of France to Mrs. Edison. Both were in full uniform. Funeral Service Simple. Mourners home entered while organ played "I'll Take Home Again, Kathleen." Its soft strains mingled with the crackle of pine logs the fireplace the Arthur Walsh, business assoclate, played "Little Grey Home the on the violin. and "Kathleen" were the favorites and they were among the first songs made on the phonograph he created. Then there music by of which Mr. Edison fond. The Rev. Dr. Herben, former pastor of the Methodist Episcopal Church of Orange read the 23rd Psalm, then am the and the he that believeth Me, though he die, yet shall he Dr. Herben Dr. Lewis Perry of Exeter Academy, read tribute, written by Arthur Palmer, an old associate of Mr. Edison. has led no armies into batsaid Palmer's tribute. conquered no countries. He has enslaved no peoples. Yet, he wields power the magnitude of warrior ever dreamed. Friend Calls Him Superman. devotion more scope, more any other living devotion rooted deep in human gratitude, and by bias race, religion kindly, modest being Mas bestowed upon the hu man blessings of bondinstead of instead of conquest. of breadth world aspect comprehends peoples rather than people, masses rather than men. that great restless, surging tide of creatures, that mighty human glacier pressing irresistibly toward horizon of civilization. the passionate pursuit of material truths and their conversion into practical, usable, beneficent forms, civilization has never seen of this man, this superdefies what more can be said: What greater tribute paid than Perry offered Walsh played "Now the Day Alexander Russell accompanied him on the large crowd waited expectantthe main gate Llewellyn but an escort of motorcycle police the funeral procession the winding, roads exit. The streets leadto the cemetery were crowded people. Guard of Honor at Grave. The body into the 5:50 o'clock. Beside magnolia from President Hoover, plain orchids from Mrs. Hoover, wreath from spray Ford. of goldenrod from Henry Six State troopers in light blue and blue attention on either side, there remain guard of honor relieved. the watch to cease 48 hours. Mrs. who was present the burial, returned once to Washington. Mr. Hoover had been unable to held in Washby pressing affairs Founded in Depository 1866 Had Suspension Ind. the Associated Press. COLUMBUS, Oct. Ohio banks turned over to the State Banking Department today for liquidation. They were the George D. Harter Bank Co. of Canton. the City Bank Trust Co. of Alliance, the Ohio Merchants "Trust Co. Massillon and the Farmers Citizens Bank of Monroeville. Frozen assets given by the State Banking Deartment to be the reason in each case. The George D. Harter Bank, Canton's largest, had assets Sept. Its capital stock and its surplus 500,000. Deposits totaled $19,It had been in business since 1866. Fourth Bank Suspension in Two Weeks Evansville, Ind. Ind., Oct. The North Side Bank announced would not open for business today fourth Evansville bank to close its doors in two to turn the affairs of the depository over examiners the State Banking Department followed the closing yesterday afternoon of the Lamasco Bank. run the Lamasco Bank was attributed the closing two weeks ago of the Lincoln Bank and of American Trust Savings Bank Monday. Officers both of the Lamasco Bank and of the North Side Bank expressed belief depositors would be paid in full. withdrawing Japanese troops from Manchuria. The five fundamental points, which had been received in Nanking with indignation, but were said to have given consideration Geneva. where the League of Nations Council is studying the Far Eastern crisis, were announced as follows: Japan and China shall mutualpledge and guarantee one another's territorial tegrity. All forms of propaganda. including the antiJapanese boycott, shall be abandoned. China shall give assurances for the safety of Japanese lives and property Manchuria. An agreement shall be reached eliminating competition on the China recognize existing treaty rights, including the quesHon of Japanese and Korean land leases in Manchuria. Tokio heard reports that Gov. Chang of Manchuria had approached Moscow in the hope of interesting Russia in protecting his interests, promising them certain North Manchurian economic concessions in return. Official circles here today termed the basic demands reputedly submitted by China to the League of Nations Council. Press said Dr. Alfred Sze, Geneva. had the demands as an aide memoire to Aristide acting president of the League Council. Nothing had been heard about them here from Kenkichi Yoshizawa, Japan's League reported by the press, the Chidemands were: Direct negotiations based on the evacuation of Japantroops from the northern areas of Manchuria. (2) neutral to determine the extent of Japanese military activities. (3) Japan to make reparation payments for damages inflicted during occupation. (4) Establishment of permanent conciliation and arbitration board adjust differences between the two nations.


Article Text

SIX MORE BANKS TO BE REOPENED IN STATE SOON 10 Already Have Resumed Business Since First Of Year Special To The News COLUMBUS, Nov. 4-Six more state banks are scheduled to be reopened for business within a few weeks, under reorganization plans of the state department of banks, Ira J. Fulton, superintendent of banks of Ohio, announced today. Under negotiations conducted by the department of banks, 10 banks which temporarily closed their doors in 1931, a result of the panicky condition of the public mind, which started heavy runs on many financial institutions, have resumed business since the first of 1932. Bank To Reopen The banks planned to be reopened soon are the Union Savings Bank & Trust Co, Steubenville; the Union Savings & Trust Co, Warren; the Ohio Merchants Trust Co., Massillon; the Dime Savings Bank Co., Canton; the Washington Savings Bank, Washington C. H., and the Farmers' Bank, Elida. Negotiations also are in progress for reopening several other closed banks. More definite information regarding reopening plans probably will be ready for announcement early in the new year. The state department of banks is aiding the committees working on the reopening projects in the various interested communities. "With the reopening of additional Ohio banks in the near future many millions of dollars which have been tied up will be turned back into the arteries of trade and industry," said Superintendent Fulton. "By thus releasing large amounts of assets which have been temporarily impounded by the closing of banks, the working capital of each community directly affected will be greatly increased, with resultant strengthening of financial situation generally. Benefits Statewide "The benefits derived do not stop at the boundaries of the communities, but extend to other areas-in fact, become statewide in their wholesome effects." According to Superintendent Fulton, banking conditions are vastly improved over what they were last year. The present year opened with a marked decrease in bank closings and the number of such closings during the last few months has been surprisingly small- not more than might be expected in normally prosperous times. Since last summer the state department of banks has taken over but five banks for liquidation, with the exception of one, moderatesized bank, all very small institutions, the closing of*which caused hardly a ripple in the economic life of the community. Banking conditions generally are well stab-


Article Text

SIX MORE OHIO BANKS WILL REOPEN SOON Ten Others Resume Business Since January 1. Special to The Review COLUMBUS, O., Nov. 4. โ€” Six more state banks are scheduled to be reopened for business within a few weeks, under reorganization plans of the state department of banks, Ira J. Fulton, superintendent of banks of Ohio, has announced. Under negotiations conducted by the department of banks, ten banks which temporarily closed their doors in 1931, a result of the panicky condition of the public mind, which started heavy runs on many financial institutions, have resumed business since the first of the present year. The banks planned to be reopened soon are The Union Savings Bank and Trust Co., Steubenville; The Union Savings and Trust Co., Warren; The Ohio Merchants Trust Co., Massillon; The Dime Savings Bank Co., Canton; The Washington Savings Bank, Washington C. H., and The Farmers Bank, Elida. State Department Aiding Negotiations are also in progress for the reopening of several other closed banks. More definite information regarding reopening plans will probably be ready for announcement early in the new year. The state department of banks is aiding the committees working on the reopening projects in the various interested communities. "With the reopening of additional Ohio banks in the near future many millions of dollars which have been tied up will be turned back into the arteries of trade and industry," said Superintendent Fulton. "By thus releasing large amounts of assets which have been temporarily impounded by the closing of banks, the working capital of each community directly affected will be greatly increased, with a resultant strengthening of financial situation generally. The benefits derived do not stop at the boundaries of the communities, but extend to other areas, in fact, to