gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
ef9df3e933dec296
Response Measures
None
Events (4)
1.August 15, 1931Run
Cause
Local Banks
Cause Details
The closing several weeks ago of the Security Home Trust company caused today's action, it was said.
Measures
The bank had previously invoked a 60-day notice on withdrawals following the failure of a local competitor in June.
Newspaper Excerpt
state department prepared to take over affairs to conserve assets in the face of previous steady withdrawals by depositors.
Source
newspapers
2.August 17, 1931Receivership
Newspaper Excerpt
staff of 60 state and federal examiners continued their task of liquidating the Ohio Savings Bank Trust company
Source
newspapers
3.August 17, 1931Suspension
Cause
Local Banks
Cause Details
Steady withdrawals following the earlier failure of the Security Home Trust Co. and the expiration of the 60-day notice period.
Newspaper Excerpt
Four Toledo banks with combined resources of more than $100,000,000 failed to open for business this morning
Source
newspapers
4.December 18, 1931Other
Newspaper Excerpt
Payment of the dividends by the three closed banks, which recently abandoned plans for consolidating single institution because support from begin next week
Silver Bar silver continued un changed at the close of the week holding at 27% an ounce New York and 12% pence in London
Washington, August 15the Farm Board finally will adopt to the Southern cot farmer his low dilemma tonight the close interest of toel-Operations of steel mills in Washington the Youngstown district next week Hope been virtually abandoned will average per cent of rated for its proposal that third of the an increase of one per cent current crop be destroyed and over the past week, Dow, Jones & ization supplies held off the market Co. estimates. for year At least five actual rejections been received the Governors TOLEDO BANKS CLOSED. who were asked to join in the program. Three Savings Institutions Turned There apparently is no immediate Over To State Department. prospect of action although many to that Toledo, Ohio, August end have out. The disposit Directors of the Ohio Savings Bank seems be to leave the actual for & Trust Co., the Guard plan squarely up to the board to be Trust & Savings Bank and the worked out the counter Commercial Savings Bank & Trust proposals put forward by Governors. Co., at special meetings tonight. de- Senators and cided to close the three board members continued banks and turn their assets their efforts to reach an agreement the State Superintendent of Banks with the directors the American This action means that the three Cotton Cooperative Association on down-town banks and their 34 the amount advances to be branches throughout the ed in handling this city not be opened Monday year's The bumper morning pective crop 15,584,000 In the of said the this action for protection of all de- tions have been in process for during an unparalleled several days.
TRY OUT GROUP MARKETING
Salem, Ohio, August Orchardists Mahoning and Columbiana Counties today began their first in group marketing. They completed deal whereby large of the apple and peach will be sold an agency 700 and 800 cars of fruit will be shipped with East Palestine New Coford and Canfield
2.August 17, 1931The Washington Daily NewsWashington, DC
Article Text
4 Banks in Toledo, 6 in NebraskaSuspend
Ohio Banking Department Takes Action Against Institutions With $100,000,000 Resource
By United Press
TOLEDO, O.-Four major Toledo banks and their 34 branches, with combined resources of more than $100,000,000 and 150,000 acounts, were closed today by orders of the State Banking Department. The institutions were the Ohio Savings Bank & Trust Co., the Commerce Guardian Trust & Savings Bank, the Commercial Savings Bank & Trust Co., and the American Bank. Other banks remained ópen and announced they were prepared to withstand heavy withdrawals. The four closures were precipated
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3.August 17, 1931The Ithaca JournalIthaca, NY
Article Text
Four Toledo Close to Conserve Assets After Runs
(AP) Toledo with combined banks more than for business morning open 11 saving association ceased and of deposits during the payments financial present While state banking departto take over their ment conserve assets the affairs previous steady withdraw. face of police and als by detectives patrolled banking preparation for any districts public Meanwhile, there pending between Mayor meeting and Adjutant General Jackson Frank the Ohio National commanding Guard Saturday, directors Late closing the Commerce nounced Trust Savings the Ohio Savings Bank and Bank, Trust Company and CommerBank and Trust Comcial Savings pany. in the these Yesterday, from directors fourth the American state would be forced that its doors also tied in the banks suspending opérations.
4.August 17, 1931Des Moines TribuneDes Moines, IA
Article Text
TOLEDO BANKS FAIL TO OPEN
Had Resources of More Than 100 Million Dollars
TOLEDO banks combined of more than 100 million dollars to open for business day while 11 saving sociations ceased payments of posits during the present cial The state banking department prepared the banks affairs to conserve in face of previous steady withdraw.
Police and detectives patrolled the banking districts in preparation for any public emergency Late Saturday, directors announced closing of the Guardian Trust and Savings bank the Ohio Savings Bank and Trust CO. and the Commercial Savings Bank and Trust co. Directors of the fourth institution, the American bank state bank Sunday it would be forced to close its doors also because its reserves were tied up in two of the banks suspending
5.August 17, 1931Tucson CitizenTucson, AZ
Article Text
FOUR OHIO BANKS CLOSE THEIR DOORS
TOLEDO, Ohio, Aug. 17. (AP). Four Toledo bank with combined resources of more than $100,000,000 failed open for business this mornwhile 11 saving associations payments of deposits during the present financial In accordance with the request of directors of the four institutions, the state department prepared to take over affairs to conserve assets in the face of previous steady withdrawals by depositors. City police and detectives, acting under orders of Police Chief Louis Haas, patroled the banking districts in preparation for any public emergency. More than 100 rural bankers of who met yesterday with Superintendent of Banks Ira Fulton and Charles Saf fin. attorney for the state department, had their assurance of co-operation by state authorities in meeting local The closing ties up for an indefinite period more than of deposits. The Trust company when it closed had about of the Ohio Savings Bank and Trust company almost Commercial Savings Bank and Trust company Guardian Trust and Savings Bank
FOUR TOLEDO BANKS CLOSED
State Takes Over Institutions in Move to Protect Assets For Depositors.
TOLEDO, O., Aug. con assets for the protection of and expedite negotiations merger four major Toledo banks and their 34 banches were today the hands of state banking department for operation. Directors of Ohio Savings Bank Trust company, the Commerce Guardian & Savings bank, the Commericial Savings Bank Trust Co. and American Bank voted Saturday night to turn the institutions over Ira Fulton, state superintendent of banks. Re sources of the four total more than 60-day notice on withdrawals invoked by the Toledo banks after closing of the Security Home Trust Co. June 17. With the ex piration of that period heavy with drawals anticipated and the action today was taken avoid serious obstacles to orderly liquida tion. Negotiations for a merger among the four will be pressed with vigor is understood. and with the full co-operation of the state banking the department to restore Toledo's fin ancial structure to normal condi
7.August 17, 1931The Iola RegisterIola, KS
Article Text
Hundred Million in posits Tied Up In City
Toledo, Ohio, Aug. 17. Four Toledo banks with combined resources of more than failed open for business this morning, while eleven savings associations ceased payments of deposduring present financial situation. accordance with the request directors the four institutions, state banking department their affairs conserve assets in the face of vious steady withdrawals by depositors. City police and detectives. acting under orders Police Chief Louis Haas. patroled the districts any public The action of directors ties for an indefinite period more than of deposits. The Security Home Trust company when closed had about deposits; Ohio Savings Bank Trust company almost Commercial Savings Bank Trust company and Commerce Guardian Trust Savings Bank There disorders when banks affected by the closings opened here There crowds. the banks.
Neb., Aug. banks today failed open their business and both Bryan secretary the state trade and merce, said the closings were the result recent bank suspensions Omaha. The six banks with total deposits the State Bank Dale: Dwight State Bank of Dwight; Brinard State Bank Brinard: Bruno State Bank the Butler County Bank of Davis and the Leigh State Bank Leigh.
FOUR BANKS IN TOLEDO CLOSED
Eleven Savings Asscciations Cease Payments of Deposits During Financial
Crisis
TOLEDO, O. Aug. 17-(P)-Four Toledo banks with combined resources of more than $100,000,000 failed to open for business this morning and eleven saving associations ceased payments of deposits during the present financial situation. In accordance with the request of directors of the four institutions, the state banking department prepared to take over their affairs to conserve assets in the face of previous steady withdrawals of depositors City police and detectives, acting under orders of Police Chief Louis Haas, patrolled the banking districts in preparation for any public emergency. Late Saturday, directors announced closing of the Commerce Guardian Trust and Savings Bank, the Ohio Savings Bank and Trust Company and the Commercial Savings Bank and Trust company. Yesterday in the wake of these announcements came word from directors of the fourth institution, the American Bank, a state bank, that it would be forced to close its doors also because its reserves were tied up in two of the banks suspending operations.
9.August 17, 1931The Lima NewsLima, OH
Article Text
TOLEDO BANKS CLOSE DOORS TO PROTECT ASSETS
O., Aug. Toledo banks with bined resources of more than decided to open this morning, while 11 savings associations ceased payments temporarily. In accordance with the request directors the Institutions, state banking department prepared to talk their affairs conserve assets. Late Saturday directors closing the Commerce Trust and Savings bank, the Ohio Savings bank and Trust Co. and the CommerSavings Bank and Trust Co. directors the fourth institution, the American bank, said would forced to close its doors also because reserves were tied up two of the banks suspending While no direct could be had definitely from affected local or banking authorities, was indicated that relative reorganibe started within week or ten days.
10.August 18, 1931The TimesHammond, IN
Article Text
$11,000,000 QUIETENS THE DEPOSITORS of from the Cleveland was credited today with confidence in stability of Toledo's four banks which were yesterby the closing of four brother Officials the four solvent banks advised depositors that anyone wanted his money could come and get The statement resulted in the of many withdrawn acexpression of the Federal bank sent 000,000 to the four banks late yesterday. Meanwhile staff of 60 state and federal examiners continued their task of liquidating the Ohio Savings Bank Trust company, the Commerce Guardian Trust and Savings company, the Commercial Savings Bank and Trust company and the American bank, which of approximately $100,000,000.
11.August 18, 1931Evansville PressEvansville, IN
Article Text
TOLEDO BANKS GET AID TO STOP RUNS
Cleveland Federal Reserve Sends $11,000,000
By United Press TOLEDO. O., Aug. 18.-Arrival of $11,000,000 from the Cleveland Federal Reserve Bank was credited today restoring confidence in the stability Toledo's four remaining banks which were threatened with heavy runs yesterday the closing of four brother institutions. Officials of the four solvent banks advised depositors that anyone who wanted his could come and get The statement resulted in the return of many withdrawn accounts. As expression of confidence. the Federal Reserve Bank sent to the four banks late yesterday. Meanwhile staff of 60 state six federal examiners continued mammoth task of liquidating the Ohio Savings Bank and Trust Company, the Commerce Guardian Trust and Savings Company, the Commercial Savings Bank Trust Company, and the American Bank, which suspended with combined resources of approximately $100,000,000. Banks Toledo's trade area were reported in good condition today.
FINANCIAL STRUCTURE OF THE NATION IS TOTTERING Toledo, Aug. 17.- The state banking department and directors today (Monday) closed four large Toledo banks with 34 branches, 150,000 accounts and combined resources of more than $100,000,000 as the second cycle of bank failures moves westward. They are the Ohio Savings Bank and Trust Company, the Commerce Guardian Trust and Savings bank, the Commercial Savings and Trust company and the American bank. The closing several weeks ago of the Security Home Trust company caused today's action, it was said. Sixty men from the state banking department and six federal reserve examiners from Cleveland immediately began the task of liquidating the assets of the suspended institution. Eleven large savings banks suspended payments upon demand and took advantage of the 30 day notice clause for withdrawals. Other Toledo banks met heavy withdrawals, and announced they were prepared for still more. The building and loan companies notified depositors that no withdrawals would be permitted until the situation was adjusted.
13.December 18, 1931The News-MessengerFremont, OH
Article Text
PAY DIVIDENDS FOR CHRISTMAS
TOLEDO, Dec. the way for the distribution of $6,500,000 depositors of three closed Toledo banks before Christmas, Common Pleas Judge Martin today approved the plans for dividend payments arranged by banking officials, per cent dividend payment be made the Commercial Savings Bank Trust Company, and cent dividends paid by the Ohio Savings Bank Trust Company, the Home Trust Company, it anPayment of the dividends by the three closed banks, which recently abandoned plans for consolidating single institution because support from begin next
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
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Ohio Savings Bank & Trust Company · UID 56001071580
