Adrian Savings Bank (Adrian, MI)

Episode Information

Episode UID
3534515291016
Episode Type
Run β†’ Suspension β†’ Closure
Bank Type
savings
Bank ID
353451529 hash
Start Date
August 25, 1884
Location
Adrian, Michigan (41.898, -84.037)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f585de74f74f2869

Response Measures

None

Description

Multiple contemporaneous reports cite a run precipitating suspension; later mentions indicate a receiver was involved.

Events (3)

1. August 25, 1884 Run
Cause
Rumor Or Misinformation
Cause Details
Inability to meet a large check was publicized by the drawer; the spread of that news triggered withdrawals by small depositors.
Newspaper Excerpt
The party who drew the check spread the news, and something of a run began among the small creditors.
Source
newspapers
2. August 28, 1884 Suspension
Cause
Rumor Or Misinformation
Cause Details
Suspension followed a run precipitated by publicity that the bank could not meet a large check.
Newspaper Excerpt
The Adrian Savings Bank suspended yesterday. Herman Loomis, the cashier, says the trouble was precipitated by the inability of the bank on Monday to meet a check for $1,500.
Source
newspapers
3. October 16, 1884 Receivership
Newspaper Excerpt
Frank R. Payne, the receiver of the shattered Adrian savings bank, gone to West Virginia to look after interests of the depositors ... whose money had been principally invested in securities of the W Virginia oil and land company by Loomis.
Source
newspapers

Newspaper Articles (17)

Article from Evening Star, August 28, 1884

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Suspension of a Savings Bank. ADRIAN, Mich., August 28.-The Adrian savings bank suspended yesterday. Herman Loomis, the cashier, says the trouble was precipitated by the inability of the bank to meet a check for $1,500. The party who drew the check spread the news, and something of a run began among the small creditors. About $80,000 is due depositors, and Mr. Loomis states that the assets of the bank are entirely adequate to pay all the liabilities in full.


Article from Lancaster Daily Intelligencer, August 28, 1884

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Savings Bank Suspends. ADRIAN, Mich., Aug. 28.-The - Adrain savings bank suspended yesterday. Her man Loomis, the cashier says, the trouble was precipitated by the inability of the bank on Monday to meet a check for $1,500 The party who drew the check spread the news. Something of a run began among the small creditors. About $80,000 is due depositorsand Mr. Loomis states the assets of the institution are en tirely adequate to pay the liabilities in full.


Article from Press and Daily Dakotaian, August 28, 1884

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A Saving Bank Suspends, Adrian, Michigan, August 23-The Adrian Savings bank suspended yesterday. Loomis, the cashier, says the trouble was precipitated by the inability of the bank on Monday to meet a check for $15,000, when something of a run began among the small creditors. About eighty thousand dolllars are due deposit ors, Loomis states the assets of the institution are entirely adequate to pay all liabilities in full.


Article from Sacramento Daily Record-Union, August 29, 1884

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TELEGRAPHIC BREVITIES. General Duryea, for many years of the State militia, died in New York Wednesday. F. W. Galbraith, of California, has been appointed Special Examiner in the Pension Office under the Civil Service Act. The Republique Francaise subjects Bism arck's colonial policy to analysis, and declares that France has no reason to find ult with it. A meeting of the three Emperors of Germany, Russia and Austria, each attended by his principal Minister, has been definitely arranged. In addition to the three Russian ironclads ordered to reinforce the Russian fleet in China, the land forces on the Corean frontier will be reinforced. The Congressional Investigating Committee Wednesday at Augusta, Me., visited the Home for Soldiers, The Orderly Sergeant agreed that liquor was the great stamblingblock. Wolseley proposes to reach Dongola with the Gordon relief expedition by November 7th. He declares his confidence that he will be able to accomplish this progranime without difficulty. Alderman F. C. Denison, of Toronto, Major of the Governor-General's Body Guard, has accepted the command of the Canadian voyageurs to be sent to the relief of Gordon at Khartoum. The tournament of the Bicycle Club at the Driving Park at Buffalo Wednesday was a splendid success. Fifteen hundred people were present. Lavender, of Toronto, had an arm broken by a collision in a race. The Comptroller of the Currency has received a telegram from Bank Commissioner Ellis, saying that the affairs of the Second National Bank at Xenia, Ohio, are not so bad as represented, and there is reason to believe that it will meet all demands. The Adrian (Mich.) Savings Bank suspended Wednesday. A. Loomis, Cashier, says that the trouble was precipitated by the inability of the bank on Monday to meet a check for $1,500. A run began among the smΓ€ller creditors. There is about $80,000 due depositors. Judge Knickerbocker, of the Probate Court of Chicago, yesterday, upon the testimony of two expert physicians, submitted the question to the jury, which found Wilbur F. Storey, of the Chicago Times, incapacitated for business. An appointment of a conservator of the estate is now being considered by the Court. The British Government is expediting the departure of increasing reinforcements of the Egyptian staff. At Woolwich they have been and additional hands to idly. engaged Orders to increased, put have transports been sent in readiness Plymouth rapto hasten the fitting out of the transport Peonah. It has been decided to increase the expedition for the relief of Gordon to 7,000 men.


Article from Eureka Daily Sentinel, August 29, 1884

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mitted the question to a jury, which found that Wilber F. Storey, of the Chicago Times, is incapacitated for business. The appointment of a conservator of the 68tate is now being considered by the Court. Torpedo Exercises. PROVIDENCE, Aug. 28.-Postmaster General Gresham arrived at Newport this morning. The exercises at the torpedo stations begun at 11 A. M., when the President was received by Capt. Selfridge and given a salute of 60 torpedoes. The hull of the Joseph Henry was blown into atoms by contact with 8 torpedo electrically controlled. The Triana afterward went out and fired gun cotton torpedoes. Want Proof. NEW YORK, Aug. 28. -Coroners Levy and Robinson had another consultation today with Col. Perry, regarding the exhumation of private Henry's body. It was decided that the coroners shall ask Miss Dora Buck to send proof that she is Henry's sister. If she furnishes the necessary proof, said Coroner Levy, we will at once proceed with the examination. Another Run on A Bank. ADRIAN, Mich., Aug. 28.-The Adrian Savings Bank suspended yesterday. Herman Loomis, the cashier, says the trouble was precipitated by the inability of the bank on Monday to meet a check for $1,500. The run began among the small creditors. About $80,000 are due to depositors. Loomis states that the assets of the institution are entirely adequate to pay all liabilities in full. Not Necessary for a Receiver. WASHINGTON, Aug. 28.-The Comptroller of Currency received a telegram from Bank Examiner Ellis, saying the affairs of the Second National Bank of Xenia were not 80 bad as represented, and there is reason to believe will meet all demands. The Comptroller says it does not appear necessary for a receiver. The Home for Soldiers. AUGUSTA, Me., Aug. 28.-A Congress investigating committee visited the Home for Soldiers. The Orderly Sergeants agreed that liquor was the great stumbling block. Execution of Joe Bogard. LONOKE, Ark., Aug. 28.-Joe Bogard, colored. aged 18, was hung in the presence of 3,000 people, for raping Miss Rhen, aged 11, in January last. Hanged by Citizens. NEW ORLEANS, Aug. 28.-A Times-Democrat Jeannerette special says & negro was hanged to-day by the citizens for grossly assaulting & married lady. A Destructive Fire. WATERTOWN, Aug. 28.-The business portion of the village of Adams was burned this morning. Loss, $200,000. Shoe Factory Burned. NEWARK, N.J., Aug. 28.-The Bannister shoe factory was burned this morning. Loss, $100,000.


Article from New-York Tribune, August 29, 1884

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A SAVINGS BANK SUSPENDS. ADRIAN, Mich., Aug. 28.-The Adrian Savings Bank suspended yesterday. Herman Loomis, the cashier, says the trouble was precipitated by the inabillty of the Bank on Monday te meet a check for $71,500. About $80,000 is due to depositors. Mr. Loomis states that the assets of the institution are adequate to pay liabilities in full.


Article from Fort Worth Daily Gazette, August 29, 1884

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ANOTHER BANK SUSPENDED. ADRIAN, MICH, Aug. 28.-The Adrian Savings bank suspended yesterday. Herman Loonsts, the cashier, says that the trouble was precipitated by the inability of the bank on Monday to meet a check of $15,000, The party who drew the che ck spread-the news and something of A run began among the small creditors. About $80,000 is due depositors, and Mr. Loomis states that the assets of the institution are entirely adequate to pay all the liabilities in full.


Article from The Rock Island Argus, August 29, 1884

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Suspension of a Michigan Bank. ADRIAN, Mich., Aug. 29.-The Adrian Savings bank has suspended. Herman Loomis, the cashier, says the trouble was precipitated by the inability of the bank on Monday to meet a check for $1,500. The party who drew the check spread the news, and something of a run began among the small creditors. About $80,000 is due depositors, and Mr. Loomis states the assets of the institution are entirely adequate to pay all liabilities in full.


Article from Seattle Daily Post-Intelligencer, August 29, 1884

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Buspension of a Weak Bank. ADEIAN, Mich., Aug. 28.-The Adrian Savings Bank suspended yesterday. Herman Loomis, the cashier, says the trouble was precipitated by the inabil ity of the bank on Monday to meet a sheck for $1500. A run then began among the small creditors. About $8000 is due depositors. Loomis states that the assets of the institution are entirely adequate to pay all liabilities in full. Planters' and Mechanics' Bank Inves-


Article from The Dallas Daily Herald, August 29, 1884

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A Big Check Caused Trouble. Adrian, Mich., Aug. 28.-The Adrian Savings Bank suspended yesterday. Herman Loomis, the cashier, says the trouble was precipitated by the inability of the bank, on Monday, to meet a check for $15,000. The party who drew the check, spread the news, and something of a run began among small creditors. About $80,000 is due depositors. and Mr. Loomis states that the assets of the institution are entirely adequate to pay all tiabilities in full.


Article from The Salt Lake Herald, August 29, 1884

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Bank Suspended. Adrian, Mich., 28.-Adrian Sav. ings Bank suepended yesterday. Herman Loomis, cashier, says the trouble was precipitated by the inability of the bank. on Monday, to meet a check for $1,500 and a run began among smalΔ± creditors. About $80,000 is due depositors, Loomis states that the assets of the institu tion are entirely adequate to pay all liabilities in full.


Article from The State Journal, August 30, 1884

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A MICHIGAN BANK IN TROUBLE. By Associated Press, ADRIAN, Mich., Aug. 28.-The Adrian Savings Bank suspended yesterday. Herman Loomis, the cashier, says the trouble was precipitated by the inability of the bank on Monday to meet a check of $1,500. The party who drew the check spread the news, and something of a run began among the small creditors. About $80,000 is due depositors. Mr. Loomis states that the assets of the institution are entirely adequate to pay all liabilities in full.


Article from Mower County Transcript, September 3, 1884

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GENERAL. THE Adrian (Mich.) Savings Bank succumbed to a run on the 28th. About $80,000 is due depositors. The assets are said to be sufficient to meet all demands. TEN Jersey cows were killed at Elmshurst, Ill., on the 28th, by Dr. Paaren, state veterinarian. Thei ir carcasses showed more or less decided traces of pleuro-pneumonia. THE jury in the case of Wilbur F. Storey, proprietor of the Chicago Times, has declared Storey a distracted


Article from Watertown Republican, September 3, 1884

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Financially Embarrassed. The failures in the United States for the week ending on the 29th, are reported at 180. The Adrian (Mich.) Savings Bank succumbed to a run on the 28th. About $80,000 is due depositors. The assets are said to be sufficient to meet all demands. The Second National Bank, at Xenia, O., closed its doors on the 27th. W. B. Penick, druggist, St Joseph, Mo., failed on the 25th. Liabilities $75,000; assets about the same.


Article from The Superior Times, September 6, 1884

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A. L. PATTERSON, business manager of the Chicago Times, has been appointed conservator of the estate of Wilbur F. Storey, the demented proprietor of that paper. THE Adrian (Mich.) Savings Bank succumbed to a run on the 28th. About $80,000 is due depositors. The assets are said to be sufficient to meet all demands, TEN Jersey cows were killed at Elmshurst, III., on the 28th, by Dr. Paaren, state veterinarian. Their carcasses showed more or less decided traces of pleuro-pneumonia. THE jury in the case of Wilbur F. Storey, proprietor of the Chicago Times, has declared Storey a distracted person unable to take care of his estate, for which a conservator will now be appointed. THE first bale of the new cotton crop was received at Memphis on the 27th, and brought twenty cents a pound at auction. THE inter-state military reunion opened at Cold Spring Driving Park, Milwaukee, on the 25th. THE fourth annual reunion of the famous Iron Brigade began at Lancaster, Wis, on the 27th. THE morning of the 25th witnessed the closing exercises of the Chautauqua Assembly. W. R. PENICK, druggist, St. Joseph, Mo., failed on the 25th. Liabilities $75,000; assets about the same.


Article from Weekly Expositor, October 16, 1884

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A Mason lady, 50 years old, has P chased a pair of roller skates and practising daily in a vacant house, g ting in trim for the winter season roller skating. James Haslem of Paris, Meco county, lost his right hand and part his left by the premature discharge o gun. He was leaning upon the weap with his hands over the muzzle. Deer are very fat this fall, and 1 market hunters are slaughtering th in great numbers. At the present r it will not be long before a deer v be as rare a beast in Michigan as is Megatherium. The officers elected at the Michig Beekeepers' Convention at Greenv for the ensuing year are: President J. Youngman, of Lakeview, Montes county; Secretary, F. A. Palmer, of 1 Bride's, Montealm county. Receipts at the State University this semester: Medical departme $11,275; law, $8,605; analytical 8 applied chemistry, $2,065; dental, $ 711; literary, $12,660; pharmacy, $ 1,345; total, $ 135; homeopathic, 396. Edward Lane was shooting at du with a rifle near Cheboggan. A st bullet passed over a field where Geo Stewart, 14 years old. was digg potatoes with his father, striking you Stewart in the neck and killing him stantly. A fatal disease has broken out amo the sheep in the vicinity of, Sherwo destroying whole flocks. The farm are at a loss how to tight it and want know if the state cannot assist them sending doctors to investigate and S gest means of checking it. The residence of A. E. Turner Cobbtown. Wexford county, was burr theother night. Thefamily barely esc ed. They were awakened just in ti to save themselves by the barking o dog. The dog was burned with the hou Loss about $1,500; insured for $600. E. F. Crandall, a native of One county, N. Y., a pioneer of Clin county, and a resident in St. Johns twenty-three years, a pensioner of war of 1812, and a veteran of the M can war, died on the 10th inst., at home in St. Johns in the 98th year his age. Frank R. Payne, Esq., the receive he shattered Adrian savings bank, gone to West Virginia to look after interests of the depositors of the e cern, whose money had been princip lv invested in securities of the W Virginia oil and land company by Loomis. A doctor named John Terrell been convicted at Port Austin of pi ticing without registering with. county clerk as required by law. defense is that he registered in Tusc county, an 1 that gives him a right practice anywhere in the state. The n ter is to be. tested in the courts. Parties who have been boring for at Algonac struck a deposit at a de of 1,520 feet. Large offers Lave ready been made for the well. A e pany will be organized at once and process of manufacture commend There is great enthusiasm in the pls and property is already advancing. Wm. Wade of Jefferson, Cass cour captured a half-grown eagle near E lake, recently. The eagle had cau a pig, and while devouring it Mr. W got a shot at it, one shot taking bird on the head, stunning but not juring it. It measures over six from tip to tip of wings.-Kalama Telegraph. Dr. Van Riper of Shaftsburg, an i erant physician, has been arrested released on $500 bail, charged with taining possession of the body of 1 Thos. Tupper Tompkins, either mesmerism or some other occult mas The woman, thinking she was to revealed it to her husband. The ( tor claims it is a blackmailing sche The coroner's jury in the case Minnie Leach, the victim of the terr accident at the Lansing fair gron give as their verdict that the deces came to her death by being caught the line shaft as stated in the evide before them, and allege negligence the part of the managers of the soc ] in not having said shaft properly tected. The Indians at Sault Ste. Marie e plain at having to vacate the ground the north side of the canal, where fish commission proposes to loc They also claim that they know n ing of the sale of more than the ri of way of 400 feet through the reserva for the old canal. They further cl that there is vet due them in annui


Article from Weekly Expositor, August 25, 1887

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Harts Vance Boguri, a farmer living about five miles from Homer, hung himself with a chain from a scaffold in his barn. A Charlotte man has invented a chicken coop for shipping use which can be taken apart or put together without the use of tools. James O'Hara of East Saginaw, who was injured by the cars near East Tawas the other day, has since died of his injuries. It has been discovered that an attempt was recently made to rob the grave of Mrs. John A. Gale of Ypsilanti. The attempt failed. TenEyck's shingle mill in East Saginaw was partially destroyed by fire the other morning. The loss is about $15,000. The mill will be rebuilt. Mrs. M Sage of Delford, Tuscola county, has received word that she has fallen heir to about $10.000 through the death of an aunt in New York. J. H. Pixley, well known to thousands as one of the old Pixley & Grannis concert company, is now an employe of a crockery dealer in Grand Rapids. A big discovery of silver is reported five miles northwest of Lands, a small station on the Chicago & Northwestern road, about 20 miles below Negaunee. Frank Belding, aged 40, the youngest in the family after which the town of Belding was named, died in New York recently, and was brought home for burial. Prof. H. W. Dubie has been chosen professor of music in Olivet college. He has been a pupil of Winkelmann and Held, and is a graduate of Halberstadt college, Germany. Assistant United States Geologist Wooster is hunting up the tracks of pre-Adamite glaciers, which kept the Michigan forest fires and hot weather in check so many Γ¦ons ago. The Estey manufacturing company of Owosso will put in a saw mill at Perrinton, on the Muskegon branch of the Toledo, Ann Arbor & Northern road, to supply lumber for the Owosso factory. Samuel Crozier, a prominent farmer of Claybank, Oceana county, retired in his usual good health the other night. The next morning his wife awoke and found him dead. Cause, heart disease. The supreme court allowed the creditors of the defunct Adrian savings bank $13,151. It was due August 11. Late advices to Receiver F. R. Payne from West Virginia put the payment off until September 22. Col. Charles B. Peck, who was formerly receiver of the Chicago & Grand Trunk railway, with headquarters at Port Huron, has been appointed manager of the Atlantic & Danville road, with headquarters at Portsmouth, Va. Charles R. Ballard of Jackson fell in with a party who invited him to shake dice. Charles did so, and at the close of the game found himself out of pocket $335. An officer afterwards recovered $295 of the money. Auyler J. Barton, a young man of Unadilla, is under arrest charged with setting fire to an Unadilla residence which was burned to the ground, and also a vacant store. Barton is thought to be responsible for several other cases. The John A. Logan post No. 1 of Grand Rapids, captured the set of colors for making the best appearance on review at the G. A. R., encampment at Ionia. All old soldiers say it was the finest G. A. R. procession they ever witnessed. Mrs. John Brunger of Charlotte, while cutting cucumbers from the vines, accidentally slipped and fell on the knife, the blade entering her breast above the heart, killing her almost instantly. She was the wife of an old and respected citizen. Miss Eunice Barclay died suddenly at the Tremont hotel in Vicksburg the other morning. A past mortem was held, and a coroner's jury gave a verdict of death from inflamination, brought on by a criminal operation by some person unknown. Halo Riddle, aged 3, dropped something into a milk can on a farm near Charlotte. The can was large and full of water. In fishing the object out she lost her balance. Her little body was wedged into the neck of the can. She drowned in a few minutes. Frank H. Rice of Flint, who was indicted last June for using the United States mail as a medium through which he conducted a swindling game, has been sentenced to the house of correction for six months and fined $24 upon his plea of guilty. A. Alexander, proprietor of a meat market in Henderson, Shiawassee county, brutally assaulted Postmaster Thomas Corcoran, breaking his jaw. Alexander was quarreling with his wile and she called Corcoran in for assistance. Alexander has been arrested. Prof. J. C. Stowell, late prohibition orator and editor, and later principal of the unfortunate normal school in Flint, was arrested in that city the other day, charged with assault and battery on the person of Mrs. Ganson, a lady of whom he rented rooms for his students. The officers of the West Michigan fruit growers' society have decided to hold their next annual meeting in Paw Paw, beginning probably on Wednesday, December 7, and continuing until noon of Friday, the 9th. The society includes all the prominent fruit growers from St. Joseph to Muskegon. The Flint & Pere Marquette railroad company will soon commence running a line from Manistee Junction to Grand Rapids, a distance of sixty-six miles, with a branch to Muskegon, and ultimately one to Petoskey. The proposed road will run through Kent, Ottawa, Newaygo, Oceana and Mason counties.