Richland County Bank (Butler, OH)

Episode Information

Episode UID
4236576391339
Episode Type
Run → Suspension → Closure
Bank Type
state
Bank ID
423657639 hash
Start Date
July 15, 1911
Location
Butler, Ohio (40.588, -82.425)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
5999650547455d84

Response Measures

None

Description

Later reporting shows insolvency and bad paper after the closure; bank was a seven-partner private partnership.

Events (3)
1. July 15, 1911 Run
Cause
Rumor Or Misinformation
Cause Details
Depositors were withdrawing funds due to circulating rumors about the bank's condition.
Newspaper Excerpt
withdrawing their money because of rumors as to the bank's condition.
Source
newspapers
2. July 15, 1911 Suspension
Cause
Rumor Or Misinformation
Cause Details
Bank closed its doors after heavy withdrawals tied to rumors and inability to meet demands; partners decided to quit business.
Newspaper Excerpt
Richland county bank here today...the bank didn't open its doors today.
Source
newspapers
3. July 25, 1911 Receivership
Newspaper Excerpt
Appoints Receiver. Mansfield, O., July 25-C F. Ackerman has been appointed receiver for Richland County Bank of Butler, which closed its doors last Wednesday, following failure to realize on investment fast enough to pay the depositors who were withdrawing their money because of rumors as to the bank's condition.
Source
newspapers

Newspaper Articles (10)
1. July 19, 1911 The Marion Daily Mirror Marion, OH
Article from The Marion Daily Mirror, July 19, 1911

Click image to open full size in new tab

Article Text

BANK FAILS AT BUTLER Richland County Bank goes Into the Hands of a Receiver. By United Press Wire. Butler, O., July 15.-Approximately $65,000 in deposits is tied up by the clósing of the Richiand county bank here today. A receiver will be asked for the institution, the only bank in this village, in the courts at Mans-' field tomorrow. The bank has been operated by a partnership of seven members with A. J. Solmon, Columbus financier, at its head. "Six of the partners, farmers and business men, met at the bank today," Cashier Downing stated this aftermoon. "Solomon was in Columbus, but they were in constant communleation with him by telephone. The bank had been running down for a year, and they decided to quit business. So the bank didn't open its doors today. "I think that the Sank," said Downing, "will be able to pay back dollar for dollar."

2. July 20, 1911 The Wheeling Intelligencer Wheeling, WV
Article from The Wheeling Intelligencer, July 20, 1911

Click image to open full size in new tab

Article Text

BUTLER BANK FAILS MANSFIELD O. July 19.-The Richland County bank at Butler O., formerly known as the First National bank closed its doors to-day. and it is understood its directors will ask for the appointment of a receiver Cashier J. H. Downing asserts that the bank will pay dollar for dollar

3. July 20, 1911 The Marion Daily Mirror Marion, OH
Article from The Marion Daily Mirror, July 20, 1911

Click image to open full size in new tab

Article Text

BUTLER BANK CLOSES Cashier Predicts It Will Pay Dollar For Dollar. Butler, O.. July 20.-Approximately $65,000 in deposits is tied up by the closing of the Richland County bank here. A receiver will be asked for the institution, the only bank in this village, in the courts at Mansfield. The bank has been operated by a partnership of seven members, with A. J. Solomon, Columbus financier, at its head. "I think that the bank," said Cashier Downing, "will be able to pay dollar for dollar."

4. July 25, 1911 The Marion Daily Mirror Marion, OH
Article from The Marion Daily Mirror, July 25, 1911

Click image to open full size in new tab

Article Text

Appoints Receiver. Mansfield, O., July 25-C F. Ackerman has been appointed receiver for Richland County Bank of Butler, which closed its doors last Wednesday, following failure to realize on investment fast enough to pay the depositors who were withdrawing their money because of rumors as to the bank's condition.

5. August 15, 1911 The Democratic Banner Mount Vernon, OH
Article from The Democratic Banner, August 15, 1911

Click image to open full size in new tab

Article Text

RECEIVER Of The Defunct Bank At Butler, Ohio Files A Petition That Is Quite Sensational Alleging Wise Deeded Property To His Wife To Avoid Any Financial Responsibility Court Is Asked To Declare Deed Fraudulent (Mansfield News) Charles F. Ackerman, receiver of The Richland County Bank, of Butler, by his attorneys, Brucker and Voegele, has. begun suit in common pleas court against F. E. Wise and Sylvia Wise to set aside a deed. The plaintiff alleges that he is the duly appointed, qualified and acting receiver of The Richland County Bank a partnership, located at Butler, Ohio. The plaintiff says the partnership consists of the following members: A. W. Mishey, O. B. Statler, F. E. Wise, A. J. Grubb, I. Hess, Chris Keller and A. J. Solomon. That each of the above mentioned parties are' partners composing the bank mentioned and each owns a one-seventh interest in the partnership. The plain'iff says that on July 20, 1911, all of the above partners joined in a petition in the court of common pleas of Richland county, Ohio, to have a receiver appointed for the bank, alleging in the petition that the Richland County Bank was insolvent and unable to pay its debts. The plaintiff says that on July 20, 1911, and a long time prior thereto, the partnership was wholly insolvent. The plaintim says that after applying all of the property and assets of the Richland County Bank to the payment of its debts, there will be a large deficiency. and that all of the private property of the partners will not be sufficient to make up the deficiency.

6. August 18, 1911 The Democratic Banner Mount Vernon, OH
Article from The Democratic Banner, August 18, 1911

Click image to open full size in new tab

Article Text

DEFUNCT Bank At Butler Holds Bad Paper (Mansfield News.) It is reported from Butler that the affairs of the Richland county bank which closed its doors some time ago are in worse shape than was expected, and that the assignment of A. W. Mishey, the president of the defunct bank. was brought about by disclosures in the methods of conducting the bank. The report was circulated that about $35,000 worth of bad paper is held by the bank and credited in the assets, but Receiver Charles F. Ackerman states that the bank no doubt holds some bad paper but not any where near the amount reported. Receiver Ackerman has appointed appraisers for the Richland county bank and they will meet and pass upon the liabilities and assets of the bank at a meeting to be held next; Tuesday. Butler people are not impressed very favorably with the prospect of paying their taxes a second time or having their property placed on the delinquent tax list. It'is reported that 92 Butler residents have united and will seek to enjoin County Treasurer Wigton from placing their properties on the delinquent tax list. They paid their taxes to the agent of County Treasurer Wigton and the money, amounting to $1,527 was deposited in the Richland county bank before that institution closed its doors. The money is now tied up and County Treasurer Wigton has ordered all those to pay their taxes the second time.

7. September 5, 1911 The Democratic Banner Mount Vernon, OH
Article from The Democratic Banner, September 5, 1911

Click image to open full size in new tab

Article Text

RECEIVER Of Butler Defunct Bank Seeks Judgment Asks That Mortgage May Be Foreclosed To Pay Off A Note In The Sum Of $2,500 (Mansfield Shield) C. F. Ackerman, receiver of the Richland County Bank, of Butler, through Attorneys Brucker and Voegele has filed suit for $2,500 in common pleas court against L. T. Cornell, A. J. Solomon et al. The plaintiff says as such receiver there is due him from defendants $2,500 with interest from March 10, 1910 at 5 per cent on a promissory note for $2,500 dated at Butler, March 10, 1909, due in two years to Amos J. Solomon and signed L. T. Cornell. The plaintiff says A. J. Solomon is an endorser upon the note and also has guaranteed the payment of the same. He says the note was originally made payable to Amos J. Solomon and that in 1909, he transferred all his interest in the note to the First National Bank of Butler; that the First National Bank in 1910 ceased to do business and at the time transferred to the Richland County Bank of Butler all interest in the note. The plaintiff says as such receiver he is now the sole owner of the note and is entitled to sue thereon. The plaintiff says to secure the payment of the note a mortgage was given on inlot 17 in Butler. It is asked that the real estate be sold and the proceeds from the sale of the real estate be applied to the payment of plaintiff's judgment. It is asked that R. M. Greer receiver of The Farmers' and Merchants National Bank of Mt. Vernon and the Guaranty Savings Bank & Trust Co., of Mt. Vernon may be compelled to set up any claim they have upon the property.

8. February 20, 1912 The Democratic Banner Mount Vernon, OH
Article from The Democratic Banner, February 20, 1912

Click image to open full size in new tab

Article Text

Action On Promissory NoteCharles F. Ackerman, receiver of the Richland County Bank of Butler, has commenced a suit in the court of common pleas of Knox county against the Knox County Glass Co. and A. J. Solomon. The action is based on a promissory note, given in the sum of $1,500, with the Knox County Glass Company as maker and A. J. Solomon as indorser. The plaintiff asks for a judgment in the sum of/$1,500 with interest. Brucker & Voegele of Mansfleld are the attorneys for the plainliff in this action.

9. May 7, 1912 The Democratic Banner Mount Vernon, OH
Article from The Democratic Banner, May 7, 1912

Click image to open full size in new tab

Article Text

longing to the First National Bank of Butler be delivered to the plaintiff as the receiver of the Richland county bank of Butler. That the deposit mads by the directors of the First National bank of Butler be turned over to the plaintiff as receiver and that all of the funds so to be received by plaintiff as receiver of the Richland county bank of Butler, be applied by him in paying the creditors of the First National bank.

10. May 7, 1912 The Democratic Banner Mount Vernon, OH
Article from The Democratic Banner, May 7, 1912

Click image to open full size in new tab

Article Text

RECEIVER After The Assets Of The Butler Bank Suit In Richland Brings County Courts (Mansfield News) C. F. Ackerman, receiver of the Richland County Bank of Butler, by his attorneys Brucker & Voegele, has begun a suit in common pleas court against the First National Bank of Butler, Ohio, Isaac Hess, et al., directors and stockholders of the same. The plaintiff says that he is the duly appointed and acting receiver of the Richland County Bank of Butler, Ohio, and as such receiver he has full power to take charge of all assets of the bank and to institute necessary to collect the property and asset of the bank and to institute such proceedings as may be necessary to recover any property or assets of any kind or description held