Accommodated withdrawals, Full suspension, Books examined
Other: State banking department audit and takeover by E. H. Blair mentioned.
Description
Newspapers state explicitly Run Closes Amherst Bank. Articles (Dec 20, 1928) describe heavy withdrawals/a run that closed the bank, a state banking department audit, E. H. Blair called to take over, and mention of director Jacob Baus (suicide) and a special meeting. No evidence in these clips that the bank reopened; closure appears permanent or at least led to takeover by state authorities.
Events (3)
1.December 20, 1928Other
Newspaper Excerpt
E. H. Blair ... to take over the Institution; special meeting of directors called; state banking department over the company ... audit started for protection of depositors, examiner checking several days checking the ... verdict of suicide in the death of Baus was found earlier in the day and a special meeting was called last ... directors were able to agree ... Blair to take over the Institution, All early checks of the bank's did not show any OR for the protection of depositors.
Source
newspapers
2.December 20, 1928Run
Cause
Bank Specific Adverse Info
Cause Details
Death of director Jacob Baus mentioned and apparent bank troubles triggered heavy withdrawals
Measures
All depositors were paid (per article) and a special meeting of directors was called; state banking department audit commenced and E. H. Blair was to take over the institution.
Newspaper Excerpt
Run Closes Amherst Bank
Source
newspapers
3.December 20, 1928Suspension
Cause
Bank Specific Adverse Info
Cause Details
Following the run and discovery of troubles (and the director's death), the bank was closed and state examiners/auditors intervened to protect depositors
Newspaper Excerpt
Blair announced ... bank would be closed and an audit started ... examiner has been in Amherst several days checking
Run Closes Amherst Bank
(Continued From Page One) may within six weeks his profes the bank Is solvent. Bank was found day. long before the opening, long line depositors was milling about the bank All were paid and a special meeting of called last had verdict of suicide in the death of Baus. The cot under way but was five hours before directors were able to agree riosing and word was to Blair to inke over the Institution, All early chees of the bank's did not stow any OR for the protection of depositors.
2.December 20, 1928Telegraph-ForumBucyrus, OH
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Article Text
the state banking depart over the company which morning, E. H. Blair of banks, announced fice here. According to Blair immediately following Jacob Baus, 60, director last Monday Blair bank would be closed an audit started & is in Amherst today lieved plan would whereby the bank can six weeks W. H. Schibley is Amherst bank was 5, 1906 with capital and surpluses are equal to that amount sets to the last parment attorney, to Amherst W. Ske aminer. has been in An eral days checking the
