Dansard State Bank (Monroe, MI)

Episode Information

Episode UID
74021371580
Episode Type
Run → Suspension → Reopening
Bank Type
state
Bank ID
7402137 routing
Routing Number
74-0213
Start Date
August 28, 1931
Location
Monroe, Michigan (41.916, -83.398)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d71abbb6287f51f8

Response Measures

None

Description

Runs in Aug 1931 tied to closures of four Toledo banks; receiver appointed Nov 1931; moratorium/reopening in July 1933.

Events (5)
1. August 28, 1931 Run
Cause
Local Banks
Cause Details
Runs were triggered by the closure of four Toledo, Ohio banks, prompting wholesale withdrawals in Monroe.
Measures
Bank closed doors; officials declared depositors would suffer no loss.
Newspaper Excerpt
Two of this city's three banks failed to open their doors today as the result of wholesale withdrawals by depositors. The runs were started last week when four Toledo (Ohio) banks were closed. The banks shut down are the Dansard State Bank and the Monroe Savings Bank.
Source
newspapers
2. August 28, 1931 Suspension
Cause
Local Banks
Cause Details
Wholesale withdrawals following failures of several Toledo banks led the Dansard State Bank to shut its doors.
Newspaper Excerpt
Two of this city's three banks failed to open their doors today as the result of wholesale withdrawals by depositors... The banks shut down are the Dansard State Bank and the Monroe Savings Bank.
Source
newspapers
3. November 1, 1931* Receivership
Newspaper Excerpt
The bank closed Aug. 27. 1931. and has been in the hands of a ceiver since November, 1931.
Source
newspapers
4. July 8, 1933 Reopening
Newspaper Excerpt
Dansard Bank at Monroe Given O. K. on Reopening... plan for reopening the Dansard State Bank here was approved Friday by ... Moratorium agreements been signed by 72 per cent of the deThe bank closed Aug. 27. 1931. and has been in the hands of a receiver since November, 1931.
Source
newspapers
5. July 22, 1933 Reopening
Newspaper Excerpt
Dansard State bank, closed since August 28. 1931, reopened this morning under plan under which percent its depositors have agreed Immediate payment of five percent about $600,000 deposits planned with the reopening.
Source
newspapers

Newspaper Articles (4)
1. August 28, 1931 The Washington Times Washington, DC
Article from The Washington Times, August 28, 1931

Click image to open full size in new tab

Article Text

N. Y. BANK OWES $9,500, 000; CLOSES Shrinkage of Securities Hits Trust Co.; Toledo Run Ends Two Michigan Institutions NEW YORK, Aug. 28 (I.N.S.). The Bank of Europe Trust Company and its subsidiary, the Bank of Europe Safe Deposit Company, were taken over today by the State Banking Department. The bank has deposit liabilities of approximately $9,500,000. In announcing that the bank had been taken over, State Superintendent of Banking Joseph A. Broderick said the action was due to "depreciation in the value of its investment securities which so impaired the capital structure that it is deemed unsafe and inexpedient to permit this institution to continue in business." The bank and its subsidiary are to be liquidated at once, Broderick added. He said he hopes to be able to pay the first dividend to depositors and other creditors within 90 days. MONROE, Mich., Aug. 28 (I.N.S.).-Two of this city's three banks failed to open their doors today as the result of wholesale withdrawals by depositors. The runs were started last week when four Toledo (Ohio) banks were closed. The banks shut down are the Dansard State Bank and the Monroe Savings Bank. The third bank here, the First National of Monroe, opened its doors as usual. Officials of the two closed banks declared that the depositors would suffer no loss.

2. June 30, 1933 Detroit Free Press Detroit, MI

Article Text

Monroe Man Dies in Auto Accident Four Hurt as Driver Loses Control MONROE June -Herman Kedinger. 45 years old, died Thursday night of fractured skull and other injuries suffered in an auaccident Thursday afteron Erie Thomas Dixon, 45. injured the chest Mays, 45. sustained injured pelvis, Albert Cronk, 33, and Henry Hudgins, 39, the driver minor and bruises. Their automobile overturned when Hudgins control of police Cronk and Hudgins were held pending an investigation is by his widow and four children. The Monroe County Board Supervisors Thursday refused authorize the county treasurer into with the closed Dansard State Bank Over 65 per cent the positors joined plan for organization. The of Mon roe has about $65,000 on deposit in this bank board adopted the report of the equalization The the County fixed $66,836,020. In 1932 it was $67,000,000. New bids for improving the Monroe postoffice will be was nounced here Thursday by Postmaster Mark L. Osgood All former bids have been rejected.

3. July 8, 1933 Detroit Free Press Detroit, MI

Article Text

Dansard Bank at Monroe Given O. K. on Reopening MONROE July plan for reopening the Dansard State Bank here was approved Friday by G. wee County judge Moratorium agreements been signed by 72 per cent of the deThe bank closed Aug. 27. 1931. and has been in the hands of a ceiver since November, 1931.

4. July 22, 1933 The Herald-Palladium Benton Harbor, MI

Article Text

BANK UNDER MORATORIUM MONROE, July Dansard State bank, closed since August 28. 1931, reopened this morning under plan under which percent its depositors have agreed Immediate payment of five percent about $600,000 deposits planned with the reopening. GIVEN FIVE DAYS Frank Fox, address unknown, sentenced serve five Berrien county Justice John Rody. pleaded guilty charge drunk disorderly arrest Friday by Constable Bert field Albert Conkwright, of Eau Claire, was booked the county his arrest Sheriff following family quarrel.