First National Bank (Dresden, OH)

Episode Information

Episode UID
514401294
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
51440 national
Charter Number
5144
Start Date
October 15, 1907
Location
Dresden, Ohio (40.121, -82.011)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
153cb39ff0ce633b

Response Measures

None

Receivership Details

Depositor recovery rate
90.0%
Date receivership started
1907-10-15
Date receivership terminated
1910-08-31
OCC cause of failure
Excessive lending
Share of assets assessed as good
34.6%
Share of assets assessed as doubtful
65.0%
Share of assets assessed as worthless
0.4%

Events (4)

1. October 7, 1898 Chartered
Source
historical_nic
2. October 15, 1907 Receivership
Source
historical_nic
3. October 15, 1907 Receivership
Newspaper Excerpt
The Comptroller of the Currency today announced the failure of the First National Bank at Dresden, O., ... Robert Lyon, bank examiner, has been appointed temporary receiver.
Source
newspapers
4. October 15, 1907 Suspension
Cause
Government Action
Cause Details
Closed by direction of the Comptroller of the Currency after examiner reported insolvency due to bad loans to local manufacturers.
Newspaper Excerpt
The First National Bank, of Dresden, Ohio, was closed today by direction of the comptroller of the currency, upon the report of National Examiner Robert Lyons, alleging it to be insolvent.
Source
newspapers

Newspaper Articles (11)

Article from The Evening Star and Newark Advertiser, October 15, 1907

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Article Text

NATIONAL BANK FAILURE. WASHINGTON, Oct. 15.-The Comptroller of the Currency today announced the failure of the First National Bank at Dresden, O., which was caused by loans to local woolen manufacturers, who, it is said, had failed. Robert Lyon, bank examiner, has been appointed temporary receiver.


Article from The Washington Times, October 15, 1907

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Article Text

BANK CLOSED IN OHIO TOWN. The First National Bank, of Dresden, Obio, was closed today by direction of the comptroller of the currency, upon the report of National Examiner Robert Lyons, alleging it to be insolvent. Lyons has been appointed reeciver.


Article from The Montgomery Advertiser, October 16, 1907

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Article Text

Washington, Oct. 15.-The Comptroller of the Currency today announced the failure of the First National Bank at Dresden, O., which was caused by loans to local woolen manufacturers, which it is said had failed. Robert Lyon, bank examiner. has been appointed temporary receiver.


Article from Evening Star, October 16, 1907

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Article Text

OHIO BANK CLOSES ITS DOORS. Institution at Dresden Had Been Embarrassed for Some Time. DRESDEN, Ohio, October 16.-The Dresden National Bank has closed its doors. The bank has been in trouble for some time because of the failure of the hosdery mill here. with branches at Zanesville and Frazersburg, this county. The mill employed 200 persons. but had been running with a half force for some time and finally was compelled to close down. The bank was capitalized for $70,000 and carried considerable deposits, but most of these had been withdrawn. Some time ago the bank. with its branches at Pittsburg and Zanesville, mortgaged its property for $118,000. but this falled to stave off the trouble. The officers of the bank are: 1 resident, J. G. Stump: cashier, C. S. Littlek; vice president, J. S. Prettyman; assistant cashlers, A. L. Stump and Charles Littick: directors, George B. King. Horatio Bland, H. J. Shore, F. P. Prior and John Robinson. The First National Bank of Dresden, Ohio. was closed by direction of the controller of the currency, upon the report of National Bank Examiner Robert Lyons, showing it to be insolvent. Robert Lyons has been appointed receiver. Resources-Loans and discounts, $300,105.30: United States bonds to secure circulation. $50,000.00; bonds securities, etc., $12,930.00; banking house and other real estate, $4,016.51; due from banks and bankers, $12,625.21; cash and cash items, $12,792.68 redemption fund, $2,500.00. Total, $394,969.70 Liabilitles-Capital stock. $50,000.00; surplus and undivided profits, $6,581.10; circulating notes, $50,000.00; due to banks, $1,800.41: dividends unpaid, $99.00; deposits, $272,489.19; notes and bills rediscounted $14,000.00 Total, $394,969.70


Article from The Bemidji Daily Pioneer, October 17, 1907

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Article Text

Ohio National Bank Closed. Washington, Oct. 1 .-The comptroller of the currency has announced the failure of the First National bank at Dresden, O., which was caused by loans to local woolen manufacturers, who, it is said, had failed. Robert Lyons, bank examiner, has been appointed temporary receiver.


Article from Reporter and Farmer, October 17, 1907

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Article Text

Ohio National Bank Closed. Washington, Oct. 15.-The comptroller of the currency has announced the failure of the First National bank at Dresden, O., which was caused by loans to local woolen manufacturers, who, it is said, had failed. Robert Lyons, bank examiner, has been appointed temporary receiver.


Article from Bryan Morning Eagle, October 17, 1907

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Article Text

Bank Failure Announced. Washington, Oct. 16.-The comptroller of the currency announces the faïure of the First National bank of Dresden, O., caused by loans to local woolen manufacturers who failed. Robert Lyon, bank éxaminer, has been appointed temporary receiver.


Article from The Worthington Advance, October 18, 1907

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Article Text

Ohio National Bank Closed. Washington, Oct. 15.-The comptroller of the currency has announced the failure of the First National bank at Dresden, O., which was caused by loans to local woolen manufacturers, who, it is said, had failed. Robert Lyons, bank examiner, has been appointed temporary receiver.


Article from Chicago Eagle, October 19, 1907

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Article Text

Bank in Ohio Is Closed. The Comptroller of the Currency has announced the failure of the First National Bank at Dresden. Ohio, which was caused by loans to local woolen manufacturers, who it is said had failed. Robert Lyon. bank examiner. has been appointed temporary receiver.


Article from The Morris County Chronicle, October 22, 1907

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Article Text

Ohio National Bank Fails. The Controller of tha Currency announced the failure of the First National Bank at Dresden, Ohio, which was caused by loans to local woolen manufacturers who failed. Robert Lyons, bank examiner, has been appointed temporary receiver.


Article from The French Broad Hustler, October 24, 1907

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Article Text

Ohio National Bank Fails. The Controller of the Currency anenounced the failure of the First National Bank at Dresden, Ohio, which was caused by loans to local woolen mànufacturers who failed. Robert Lyons, bank examiner, has been ap pointed temporary receiver.