State Security Bank (Zanesville, OH)

Episode Information

Episode UID
56012271573
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
5601227 routing
Routing Number
56-0122
Start Date
January 5, 1931
Location
Zanesville, Ohio (39.940, -82.013)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2ff86134b0754f2c

Response Measures

None

Description

Closed by state superintendent's order and later described as the old bank, indicating it did not reopen.

Events (1)
1. January 5, 1931 Suspension
Cause
Government Action
Cause Details
Closed on orders of the state superintendent amid asset depreciation (real estate and bonds) and resulting insolvency concerns
Newspaper Excerpt
Closing of the State Security bank Monday morning on orders Gray, state superintendent banks, caused only mild furore
Source
newspapers

Newspaper Articles (5)
1. January 5, 1931 The Zanesville Signal Zanesville, OH

Article Text

Doors Closed So That Adjustment Of Funds In Bank Can Be Made Closing of the State Security bank Monday morning on orders Gray, state superintendent banks, caused only mild furore among and finanand while regretby effect on the conduct the regular of local indusand No sooner had word of the closing the bank been issued to the puband depositors the call heads instituto meet and canvass of the Accordingly statement issued assuring residents and vicinity that the financial the sound prepared meet any might sult false and exaggerated reports temporary change or interruption of this char- C. Gray, state superintendent of shortly taking of the bank this that in real estate values and depreciation of bond accounts, primarily the cause of the bank's suspension, again this and was in giving phase the could not state definitely how long will require to about adjustment. slow process,' said. In some such instances, however, the work has been done in was learned here today. Superintendent Gray found reasons for hope that the difficulty will is the that the bank has equity the building it ocupied, he explained. The at the important intersection of Main and Fifth streets, valhe pointed Insured the property bring more than that while fixabout $16,000. timated. No formal as to the assets the bank and the amount that depositors will realize final could be today be time to could realized the bank's notes. He said that checkthe affairs of the institution had not an extent would be advisable to make any amounts could be returned final adjustments are With the State Security bank having large clientele among farmers engaged in agothers familiar with local conditions attribute much of the bank's present difficulty to these unrecorded elements in the country's history. the bank Jan. of this year, $2,633,Gray said all probability there be every effort made to dispose of the assets the bank the best possible figure, although he could not foretell this time the sale could be total that for been to the bank merge with other local banks and intervals the deal appeared certain. These efforts will Gray When the closing of the generally circulated, small group gathered front the and calmly discussed the trend of which attributed conditions over which bank officials had no bank at Surplus and were placed $70,000 by the The of the Standard Co. years ago, originally operated in with the bank, factor the closing the today and borrowed money by the Securities indirectly affected the bank's as- The State Security bank was orthe bank and the curity Trust and steady growth until the recent general pression in estate values and preciation which the institution to part in Watt M. president of bank; W. Deacon, cashier: Lane George Orr, whose death curred recently, was vice president of the Barnett, president of the fering from his today and was under physician's care. He consented, however, to make the following statement: now in the hands of that can be done to hope that affairs the institution are can be worked out

2. January 5, 1931 The Zanesville Signal Zanesville, OH

Article Text

Other Zanesville Banks In No Way Affected By State Security The closing of the State Security bank does not affect either of the other Zanesville banks in any respect. None of the other banks had any with the State Security. There are no interlocking directorss or stockholders. Each of the Zanesville banks is as solid rock and as a prepared to meet all demands that may be made upon us. We are all in ample funds and able to meet all emergencies with our combined liquid assets of more than twenty million dollars. (Signed) The First National Bank J. Larzelere, President The Citizens National Bank H. J. Knoedler, President First Trust and Savings Bank F. M. Ransbottom, President

3. July 21, 1931 The Charleston Daily Mail Charleston, WV

Article Text

EX-BANKER RECEIVES TERM IN FUNDS CASE ZANESVILLE. O., July 21 (UP). sentence from one to 30 years in prison was given M. Barnett. president of the State Security bank here. when he pleaded guilty to eight counts in indictment charging misapplication of funds. The bank was closed cently the state hanking department. Barnett. who was to taken to the penitentiary today, still faces three other indictments in connection his banking activities.

4. September 4, 1932 Sunday Times Signal Zanesville, OH

Article Text

DEPOSITORS PLAN PROTEST EXPENSE ACCOUNT OF BANK Nine Thousand Dollars Spent in Six Months on StateSecurity Affairs Depostors at the old State Security bank will meet at the probate court room Friday evening at 7:30 o'clock objections file action deemed warranted against the current expense account which was Judge pleas The tha would for filing the acocunt. has stated that the State ten thouand expected that these well represented Friday. the account was presented Saturday the court room filled with spectators pected crowd for the Friday evening. covered period from April September and expenses amounting

5. October 19, 1933 Morgan County Democrat McConnelsville, OH
Article from Morgan County Democrat, October 19, 1933

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Article Text

The Morgan County Democrat, McConnelsville, Ohio, Thursday, October 19, 1933 at the home of his daughter, Mrs. tiff files reply to answer of defendparents. over Sunspent Chesterhill Olin Davis. A delicious chicken ant in which he denies allegations Mr. and Mrs. W. A. Peebles were at Cheneyville. dinner was served at noon to Mr. contained in defendant's answer, Sunday visitors of Mr. and Mrs. A. and three Mr. and Mrs. J. H. Brooks had and Mrs. Edgar Michener and three Z. Penrose of Coolville. and he expressly denies that said Monroe are visas guests Saturday and Sunday Mr. lease described in plaintiff's petidaughters of Chesterhill, Neal BachT. C. Kennard and family of Mcand Mrs. Fred Richman and baby of Arthur and Mr. 'and Mrs. C. O. elor and Miss Virginia Mason of tion was assigned to defendant W. derwent a tonsil Middletown. Duncan Falls, Mr. and Mrs. Russell Thomas and sons were Sunday visitH. Riecker, as set forth in defendFrihospital, Mr. and Mrs. Wm. Clark of Whipcrs at the J. L. Kennard home. Bachelor, Mr. and Mrs. J. M. Bachant's answer, or the title to said ple were week end guests of J. C. elor and Mr. and Mrs. Olin Davis Homer Johnson's of Lancaster premises passed by any purported Wilson and Hiatt and wife. and children. have moved into the Abe Carr proptransfer, or assignment made to anat Paul evening Mrs. Nellie and Lucille Grigsby Mr. and Mrs. Will Reed and erty. Mr. Johnson is an employe of swering defendant. were week end guests of Mrs. Jessie Sues On Note daughters Dona and Mildred and Mr. the Ohio Fuel compressor station at Anniversary Wood of Malta. Tamer Starlin has filed suit and Mrs. Dale Miller and daughter Sharpsburg. being the 50th E. N. Williams and wife who had Mr. and Mrs. Fred Davis and Marlene were Sunday visitors of against Marion Mills and the First of Mr. and been attending the World's fair at Mr. and Mrs. Chas. Morris of the National bank. Chesterhill, in which daughter Sara of Dresden were of near MountChicago, and visiting relatives at west side. Sunday guests of W. G. Fawcett and judgment is asked, in the sum of relatives of and Kenosha, Wis., ten days returned Mrs. Anna Newsom and son family. $407.85, alleged due on a promishim celehelp home Monday. Robert Embree and family of Ralph, and Mr. and Mrs. Dwight sory note. To secure payment, At the noon Rev. N. O. Warren and wife of Zanesville were Sunday visitors of Graham and son Bobby were Sunmortgage deed was given on a lot on the spread Ironton called on friends here Monin Chesterhill. The First National day visitors of Mr. and Mrs. Harry Ed Embree and wife. to good things day. Spring of Deavertown. Mr. and Mrs. C. H. Denny of bank, Chesterhill, claims a lien on 14 cakes large Miss Marie Murphey and Wm. Zanesville and Mr. and Mrs. Howard Mr. and Mrs. Dennis Benjamin said premises, as the result of a in proportion. Wheeler of Zanesville were Sunday had as their Sunday visitors, Mr. Stotler of Newark spent Sunday with mortgage given by defendant Marit mention, pecial guests of Mrs. Julia Murphey. ion Mills to said bank. Plaintiff asks L. J. Denny and wife. and Mrs. J. E. Benjamin, Mr. and Mrs. daughter, Mrs. Pauline Harris and two Mr. and Mrs. C. P. Yocom were Mrs. Lee Benjamin and family, Mr. foreclosure of mortgage. and that Columbus, and children who spent a month with and Mrs. C. W. Anderson and three week end guests of Mr. and Mrs. said premises be sold and proceeds "Golden ription relatives and friends at Canton. daughters, and Mr. and Mrs. Gerald George Gibbons of Akron. of sale be applied toward payment Rev. Arza Millersburg and Newark, returned Anderson of McConnelsville. of liens on said premises, in accordW. S. Dougan and wife, C. E. after which home Sunday. Mr. and Mrs. Walter Porter and Newburn and wife were in Zanesville ance with their priority, and that to the eats. Sunday School Class Party son were visitors Sunday of his last Thursday. the Chesterhill bank be required to who witMrs. 'Vergene Huffman entertainparents, Mr. and Mrs. Will Porter Jane Doner, little daughter of set up its lien on premises. vows 50 of ed the Sunshine class at her home Divorce Granted of Stockport. Mrs. Faye Doner, underwent a tonsil erusha Le Leeper Thursday evening, with 11 members The' divorce case of Bonita PatEmmett Hooper of Newark was a operation at Memorial hospital, MaThe following present. The evening was spent in rietta, Friday. rick, a minor, by Annie Lee Smith, visitor here, Sunday. Mrs. E. Le Fevgames and contests, after which Mr. and Mrs. Ivan Stokes and her next friend, was heard Friday Mrs. Sadie Barnes left Sunday for McDonald, of ice cream, cake and coffee were servWooster where she will spend the by Judge Lyne. Plaintiff was grantand children of Frazeysburg were ThursMr. Hoon, ed by the hostess. Those in attendwinter with her daughter Mrs. ed divorce on grounds of gross negday visitors of her parents, Mr. and Mrs. and Mr. D. ance were Mary Pickering, Mabel Sarah Doudna. Mrs. S. A. Smith. lect of duty. Plaintiff is given cusF. J. Leeper Howard, Lucille Grigsby, Marian tody of the minor child, Jacquelyn Zona Rev. and Mrs. Obee, Mrs. Rachel Ola and S. S. Class Party Reed, Stella Mercer, Ruth Berry, Lillian Patrick. Plaintiff is ordered Holcomb, Mrs. Ollie Van Fossen and W. H. Mrs. Mrs. Lena Whitacre and Mrs. Lelia Berry, Lena Johnson and to pay costs. The action was not and Miss Mary Newsom attended W. Grantsville, Trixie Thomas entertained at the Josephine and Dessie Smith. contested. Frank of the ministerial and missionary Leeper Whitacre home Saturday afternoon, W. H. M. S. Sues On Note meeting, held at Zasesville. Tues. Mrs. Shepard, the Goodwill Sunday school class. A The W. H. M. S. will meet at the day. Ina Devitt has filed suit against Rebecca J. fine program was rendered. after home of Mrs. Lena Whitacre Friday H. H. Choguill, asking judgment in Arza Mrs. Chas. Newsom and family had as Ball, which contests were enjoyed. The afternoon, Oct. 20. the sum of $800, which she claims and Kathleen their Sunday visitors, Ralph Mcclass presented their teacher Mrs. W. C. T. U. Convention with interest at 7%, on a promisErma Van Nichols and two sons, Raymond Lenore Gibbons with a fine hand The annual Morgan county consory note. Edna Day and Miss Freda Foughty of BeBall, bag. Mrs. Gibbons has been teacher vention of the Women's Christian thesda. Miss Helen McNichols who Sues On Promissory Note Rose and Ball, of the class for the past year and Temperance Union was held at the I. J. Fulton, state superintendand Wade has been visiting at the Newsom has been elected teacher for the Chesterhill M. E. church, Thursday ent of banks, in charge of the liquihome, returned home with the othMr. and Maxine, coming year. Those present were afternoon and evening, Oct. 12, wth Mr. dation of the State Security bank, and ers, Sunday evening. eming, Marie Brooks and sister, Mamie program as follows: Song, America; Zanesville, has brought suit against and Mr. Mr. and Mrs. Theodore TompRichman, Delphine Shook, Marcella devotionals, Rev. Paul Wachs of Chas. N. Needham and Mary Wells, Alkins and Mr. and Mrs. Alonzo Handaughters Newburn, Blanche Randall, Pearl Malta; welcome address, Mrs. Hetin which judgment is asked in the Ida Mrs. son of McConnelsville, were Sunday Boyd, and Margaret Calendine, Lucille tie Woodward. report of county Mrs. callers of Mr. and Mrs. Frank Van sum of $918.55, alleged due on two 'Squire Hodgin, Lenore Gibbons, Mabel secretary, read by Mrs. Myrtle Fossen. promissory notes held by the said and Mr. Roy, Bowman and Alice Faires. Coulson; report of county treasurer, children Verbank against defendants. John Goddard and Clovis RowThere will be an all day meeting read by Hettie Woodward; reports New Suit Filed Columof arold, of the missionaries at the M. P. land who have employment at Huntof presidents, given by Mrs. Moore and Mary Simpson has filed suit for Mr. rpenter, ington, W. Va., spent the week end church, Wednesday, Oct. 25. Basof McConnelsville and Miss Alice