gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a970823583520455
Response Measures
None
Description
Closure followed discovery of large cashier defalcation; receiver appointed.
Events (2)
1.January 22, 1904Receivership
Newspaper Excerpt
The insolvency court has appointed the Cleveland Trust Company as receivers.
Source
newspapers
2.January 22, 1904Suspension
Cause
Bank Specific Adverse Info
Cause Details
Cashier George A. Rose was a defaulter (reported ~$170,000โ$187,000), causing insolvency.
Newspaper Excerpt
The Produce Exchange Banking Company ... closed its doors today.
Source
newspapers
Newspaper Articles (14)
1.January 22, 1904Santa Fe New MexicanSanta Fe., Santa Fe, NM
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Article Text
CLOSED ITS DOORS. Produce Exchange Banking Company of Ohio in the Hands of a Receiver. Cleveland, Ohio, Jan. 22-The produce Exchange Banking Company closed its doors today. Receivers have been appointed. The assets an liabilities each are placed at a million and a half. The statement issued by the attorney on behalf of the bank announced that Cashier George A. Rose is a defaulter to the extent of $170,000.
BIG BANK FAILURE. Assets and Liabilities Each Placed at Million and a Half. Cleveland, O., Jan. 22.-The Pro duce Exchange Banking Company closed its doors today A receiver has been appointed. The assets and liabilities are each placed at a million and a half. A statement issued by attorneys on behalf of the bank states that Cashier George A. Rose is a defaulter to the extent of $170,000.
BANK SUSPENDS Cleveland Financial Institution Closes It Doors-Liabilities $1,500,000. Cleveland, Jan. 22.-The Produce Ex change Banking company closed its door to-day. The insolvency court has ap pointed the Cleveland Trust company a receivers. The assets and liabilities 0 the bank are each placed at $1,500,000.
4.January 22, 1904Evening StarWashington, DC
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Article Text
CLEVELAND BANK SUSPENDS. Assets and Liabilities Each Placed at $1,500,000. CLEVELAND. January 22.-The Produce Exchange Banking Company. corner Broadway and Central avenue, closed its doors today. The insolvency court has appointed the Cleveland Trust Company as receivers. The assets and llabilities of the bank are each placed at $1,500,000.
5.January 22, 1904The Providence NewsProvidence, RI
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Article Text
BANK CLOSES ITS DOORS. Cleveland, O., Jan. 22-The Produce Exchange bank, corner of Broadway and Central avenue, closed Its doors today. The insolvency court has appointed the Cleveland Trust company receiver. The assets and liabilities of the bank are placed at $1,500,000 each.
6.January 22, 1904Deseret Evening NewsSalt Lake City, UT
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Article Text
Cleveland Bank Closes Doors. Cleveland, O., Jan. 22-The Produce Exchange Banking company, corner Broadway and Central avenue, closed its doors today. The insolvency court has appointed the Cleveland Trust company as receivers. The assets and liabilities of the bank are each placed at $1,500,000.
Bank Becomes Insolvent Cleveland, O., Jan. 22.-The Produce Exchange Banking company, corner Broadway and Central avenue, closed its doors today. The insolvency court has appointed the Cleveland Trust company as receivers. The assets and liabilities of the bank are each placed at $1,500,000.
Rose Is In Prison. CLEVELAND, O., Jan. 26.-Cashier George A. Rose, who is under arrest charged with embezzling $187,000 from the Produce Exchange bank, which has closed its doors, is locked up in the county jail awaiting developments in the examination of the bank's affairs by the officials of the Cleveland Trust company, which has been appointed receiver for the failed bank. One of the principal objects in examining the books will be to learn if Rose cannot be onarged with a more serious offense than embezzlement, the maximum penalty for which in Ohio is but ten years' imprisonment.
9.January 27, 1904Willmar TribuneWillmar, MN
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Article Text
Cleveland Bank Closed. Cleveland, O., Jan. 23.-The Produce Exchange Banking company, corner Broadway and Central avenue, closed its doors Friday. The insolvency court has appointed the Cleveland Trust company as receivers. The assets and liabilities of the bank are each placed at $1,500,000.
10.January 28, 1904Baxter Springs NewsBaxter Springs, KS
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Article Text
Bank Cashier Took $170.000, Cleveland, O., Jan. 23.-Attorney Andrew Squire, on behalf of the suspended Produce Exchange bank, made the following statement: "George A. Rose, cashier of the bank, is a defaulter to the extent of $170,000. The defalcation is more than the paid-in capital and surplus combined. The depositors will be protected fully. The stockholders will have to pay in $100,000 more on their capital stock and $200,000 in sockholders liability."
11.January 29, 1904Barton County DemocratGreat Bend, KS
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Article Text
Bank Cashier Took $170,000, Cleveland, 0., Jan. 23.-Attorney Andrew Squire, on behalf of the suspended Produce Exchange bank, made the following statement: "George A. Rose, cashier of the bank, is a defaulter to the extent of $170,000. The defalcation is more than the paid-in capital and surplus combined. The depositors will be protected fully. The stockholders will have to pay in $100,000 more on their capital stock and $200,000 in sockholders liability."
12.January 29, 1904The Kinsley GraphicKinsley, KS
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Article Text
Bank Cashier Took $170,000, Cleveland, O., Jan. 23.-Attorney Andrew Squire, on behalf of the suspended Produce Exchange bank, made the fellowing statement: "George A. Rose, cashier of the bank, is a defaulter to the extent of $170,000. The defalcation is more than the paid-in capital and surplus combined. The depositors will be protected fully. The stockholders will have to pay in $100,000 more on their capital stock and $200,000 in sockholders liability."
13.January 29, 1904The Penn's Grove RecordPenns Grove, NJ
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Article Text
Cleveland Bank Fails. The Produce Exchange Banking Company, of Cleveland, Ohio, has closed its doors. The insolvency Court has appointed the Cleveland Trust Company receiver. The assets and liabilities of the bank are each placed at $1,500,000.
14.January 29, 1904The Rice Belt JournalWelsh, LA
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Article Text
Ohio Bank Closed. Cleveland, Ohio.-The Produce Exchange Banking Company, corner of Broadway and Central avenue, has closed its doors. The insolvency court has appointed the Cleveland Trust Company as receivers. The assets and liabilities are placed at $1,500,000 each.
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