Oxford Savings Bank (Oxford, MI)

Episode Information

Episode UID
74043371601
Episode Type
Suspension → Reopening
Bank Type
savings
Bank ID
7404337 routing
Routing Number
74-0433
Start Date
May 6, 1933
Location
Oxford, Michigan (42.825, -83.265)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a6a7d7fcf0bc3d68

Response Measures

None

Description

Conservator Frank L. Olive is named and a reorganization with partial payments is described.

Events (2)
1. May 6, 1933 Suspension
Cause
Government Action
Cause Details
Bank placed in conservatorship/under liquidation prompting depositor meeting and suspension of normal operations.
Newspaper Excerpt
Depositors of the Oxford Savings Bank are to hold a meeting in the Oxford High School Saturday evening, May 6, to discuss problems of liquidation.
Source
newspapers
2. May 12, 1933 Reopening
Newspaper Excerpt
Reorganization of the Oxford Savings Bank is assured, Conservator Frank L. Olive stated Friday. About 60 per cent of the $50,000 stock subscription required for reorganization has been obtained ... Reorganization of the bank will permit an immediate release of 15 per cent and payment in full of all accounts up to $10, Olive stated. (May 12, 1933).
Source
newspapers

Newspaper Articles (2)
1. May 6, 1933 Detroit Free Press Detroit, MI

Article Text

It Happened in Michigan DUNDEE—This Village has postponed its centennial celebration scheduled for June, until next year, owing to the depression. HOUGHTON—Capt. Harold Bergh, 66 years old, Great Lakes Mariner, died in St. Joseph's Hospital after a few months' illness. Bergh sailed the lakes for the last 30 years. MT. PLEASANT—Wendell Kelly, of Royal Oak; Sharron Burnham, of Shepherd, and Fred Brown, of Cass City, are in the race for the presidency of the Student Council at Central State Teachers College. MARSHALL — Groff Stark, 17 years old, of Burlington Village, is in the hospital with a fractured skull, suffered when a playmate let a baseball bat slip out of his hands. Stark has been unconscious since the accident. OXFORD—Depositors of the Oxford Savings Bank are to hold a meeting in the Oxford High School Saturday evening, May 6, to discuss problems of liquidation.

2. May 13, 1933 Detroit Free Press Detroit, MI

Article Text

Reorganization of Oxford's Bank Is Believed Assured OXFORD, May 12—Reorganization of the Oxford Savings Bank is assured, Conservator Frank L. Olive stated Friday. About 60 per cent of the $50,000 stock subscription required for reorganization has been obtained and the remainder is certain to be had, probably before the stockholders hold a meeting next Monday night at the bank, he said. Reorganization of the bank will permit an immediate release of 15 per cent and payment in full of all accounts up to $10, Olive stated.