Bank of Flat Rock (Flat Rock, MI)

Episode Information

Episode UID
74064471347
Episode Type
Suspension → Closure
Bank Type
private
Bank ID
7406447 routing
Routing Number
74-0644
Start Date
March 12, 1912
Location
Flat Rock, Michigan (42.097, -83.270)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
937e266c8c59d009

Response Measures

None

Events (3)
1. March 12, 1912 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed with large losses to depositors (~$75,000) and many worthless notes; manager implicated in alleged misconduct.
Newspaper Excerpt
The bank closed It's doors March 12, 1912. The loss to depositors is about $75,000.
Source
newspapers
2. April 24, 1912 Receivership
Newspaper Excerpt
This cause came on to be heard upon petition of Mark W. Hearn, receiver ... it is ordered that the said receiver ... advertise for sale ... as the receiver for the late Bank of Flat Rock.
Source
newspapers
3. September 5, 1912 Other
Newspaper Excerpt
I shall sell at public auction ... on Thursday the fifth day of September A. D. 1912 ... Right to reject any and all bids shall be at the option of the vendor MARK W. HEARN, Receiver for the Bank of Flat Rock.
Source
newspapers

Newspaper Articles (10)
1. August 21, 1912 The Detroit Times Detroit, MI
Article from The Detroit Times, August 21, 1912

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Article Text

NOTICE OF SALE. State of Michigan. In the Circuit Court of the County of Wayne, in chancery. Phillip F. Hasley et al, complainants, VS. Guerd H. Retan et al. defendants. No. 40748. ORDER--At a session of the said ecurt held at the Court House in the city of Detroit in said county of Wayne on this 24th day of April. A. D. 1912. Present: Hon Henry A. Mandell Cireait Judge. This cause came on to be heard upon petition of Mark w Hearn, res ceiver and on motion of Wicker & French, solicitors for complainants it is ordered that the said receiver. Mark w Hearn. advertise for sale in some newspaper having R circulation in the ecunty of Wayne. such real estate that is now in his possession or shall come Into his possession at any future time as the receiver for the late Bank of Flat Rock. And further. that after having advertised said real estate in some news. paper having a circulation in said county, once each week for a period of two weeks, he is hereby authorized and empowered to sell said real estate and to execute and deliver to the Darchaser or purchasers of said real estate n good and sufficient deed or dee is AR shall conver the title to the nurcheser or purchasers of the same. HENRY A. MANDELL Circuit Court. A true copy. THOS. E. FRASER Deputy Register

2. August 22, 1912 The Detroit Times Detroit, MI
Article from The Detroit Times, August 22, 1912

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Article Text

Therefore, in pursuance of the above order. notice is hereby given that I shall sell at public auction to the highest bidder. at the southerly or Congress-st. entrance to the Wayne County building in the city of Detroit. Wavne county. Mich., (that being the building in which the circuit court for the said county of Wayne is held). on Thursday the Afth day of September. A. D. 1912 at 10 o'clock in the forenoon standard time. on said day. the following described premises viz: All that parcel of 1and situated and being the borough of Brooklyn of the city of New York. county of Kings and state of New York, bounded and described as follows: Be-jow ginning at n noint on the northeasteriv side of East One Hundred) and Fourthst., distant 135 feet southeasterly from the corner formed by the intersections of the northeasterly side of East One Hundred and Fourth-st. with the southeasterly side of Glenwood-rd. (formerly Avenue G.). running thence northeast erly parallel with Glenwood-rd. 100 feet to the center line of the block thence southeasterly along said center line of the block and narallel with East One Hundred and Fourth-st 20 feet: thence southwesterly parallel with Glenwood-rd. 100 feet to the northeasteriv side of First One Hundred and Fourth-et and thence northwest. only along the northeasterly side of East One Hundred and Fourth-st. 201 feet in the point or place of beginning+ Right to refect any and all hids shall be at the option of the vendor MARK w HEARN Receiver for the Bank of Flat Rock.

3. August 22, 1912 The Detroit Times Detroit, MI
Article from The Detroit Times, August 22, 1912

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Article Text

NOTICE OF SALE. State of Michigan. In the Circuit Court of the County of Wayne, in chancery. Phillip F. Hasley et al, complainants, vs. Guerd H. Retan et al, defendants. No. 40748. ORDER-At a session of the said court held at the Court House in the city of Detroit in said county of Wayne on this 24th day of April, A. D 1912. Present: Hon. Henry A. Mandell, Circuit Judge. This cause came on to be heard upon petition of Mark W. Hearn, receiver, and on motion of Wicker st French, solicitors for complainants. it is ordered that the said receiver, Mark W. Hearn. advertise for sale in some newspaper having a circulation in the county of Wayne. such real estate that is now in his possession or shall come into his possession at any future time as the receiver for the late Bank of Flat Rock. And further, that after having advertised said real estate in some newspaper having a circulation in said county, once each week for a period of two weeks, he is hereby authorized and empowered to sell said real estate and to execute and deliver to the purchaser or purchasers of said real estate a good and sufficient deed or deeds as shall convey the title to the purchaser or purchasers of the same. HENRY A. MANDELL Circuit Court. A true copy THOS. E. FRASER. Deputy Register.

4. August 28, 1912 The Detroit Times Detroit, MI
Article from The Detroit Times, August 28, 1912

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Article Text

NOTICE OF SALE, State of Michigan. In the Circuit Court of the County of Wayne, in chancery. Phillip F. Hasley et al, complainants, vs. Guerd H. Retan et al, defendants. No. 40748. ORDER-At a session of the said court held at the Court House in the city of Detroit in said county of Wayne on this 24th day of April, A. D 1912. Present: Hon. Henry A. Mandell, Circuit Judge. This cause came on to be heard upon petition of Mark W. Hearn, receiver, and on motion of Wicker & French, solicitors for complainants. it is ordered that the said receiver. Mark W. Hearn, advertise for sale in some newspaper having a circulation in the county of Wayne, such real estate that is now in his possession or shall come into his possession at any future time as the receiver for the late Bank of Flat Rock. And further, that after having advertised said real estate in some news. paper having a circulation in said county, once each week for a period of two weeks, he is hereby authorized and empowered to sell said real estate and to execute and deliver to the purchaser or purchasers of said real estate a good and sufficient deed or deeds as shall convey the title to the purchaser or purchasers of the same. HENRY A. MANDELI, Circuit Court. A true copy. THOS. E. FRASER, Deputy Register. Therefore, In pursuance of the above order, notice is hereby given that I shall sell at public auction to the highest bidder, at the southerly or Congress-st. entrance to the Wayne County building in the city of Detroit. Wayne county, Mich., (that being the building In which the circuit court for the sant county of Wayne is held). on Thursday. the fifth day of September. A. D. 1912. at 10 o'clock in the forenoon. standard time, on said day, the following described premises, viz: All that parcel of land situated and being the borough of Brooklyn of the city of New York. county of Kings and state of New York. bounded and described as follows: Beginning at a point on the northeasterly side of East One Hundred and Fourthgt., distant 135 feef southeasterly from the corner formed by the Intersection of the northeasterly side of East One Hundred and Fourth-st. with the southeasterly side of Glenwood-rd. (formerly Avenue G.). running thence northeasterly parallel with Glenwood-rd. 100 feet to the center line of the block: thence southeasterly along said center line of the block and parallel with East One Hundred and Fourth-st. 20 feet: thence southwesterly parallel with Glenwood-rd. 100 feet to the northeasterly side of East One Hundred and Fourth-st., and thence northwest. erly along the northeasterly side of East One Hundred and Fourth-st 20 feet to the point or place of beginning Right to reject any and all bids shall be at the option of the vendor MARK W. HEARN, Receiver for the Bank of Flat Rock

5. August 28, 1912 The Detroit Times Detroit, MI
Article from The Detroit Times, August 28, 1912

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Article Text

MARK W. HEARN, Receiver for the Bank of Flat Rock

6. August 29, 1912 The Detroit Times Detroit, MI
Article from The Detroit Times, August 29, 1912

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Article Text

NOTICE OF SALE. State of Michigan. In the Circuit Court of the County of Wayne, in chancery. Phillip F. Hasley et al, complainants, vs. Guerd H. Retan et al, defendants. No. 40748. ORDER-At a session of the said court held at the Court House in the city of Detroit in said county of Wayne on this 24th day of April, A. D. 1912. Present: Hon. Henry A. Mandell, Circuit Judge. This cause came on to be heard upon petition of Mark W. Hearn. receiver, and on motion of Wicker & French, solicitors for complainants, It is ordered that the said receiver, Mark W. Hearn, advertise for sale in some newspaper having a circulation in the county of Wayne, such real estate that is now in his possession or shall come into his possession at any future time as the receiver for the late Bank of Flat Rock. And further. that after having advertised said real estate in some news. paper having a circulation in said county, once each week for a period of two weeks, he is hereby authorized and empowered to sell said real estate and to execute and deliver to the purchaser or purchasers of said real estate a good and sufficient deed or deeds as shall convey the title to the purchaser or purchasers of the same. HENRY A. MANDELI, Circuit Court. A true copy. THOS. E. FRASER, Deputy Register. Therefore, In pursuance of the above order, notice is hereby given that shall sell at public auction to the highest bidder. at the southerly or Congress-st. entrance to the Wayne County building in the city of Detroit, Wayne county. Mich., (that being the building in which the circuit court for the said county of Wayne is held). on Thursday, the fifth day of September. A. D. 1912. at 10 o'clock in the forenoon. standard time. on said day. the following described premises, viz: All that parcel of land situated and being the borough of Brooklyn of the city of New York. county of Kings and state of New York, bounded and described as follows: Be: ginning at A point on the northeasterly side of East One Hundred and Fourth et., distant 185 feet southeasterly from the corner formed by the intersection of the northeasterly side of East One Hundred and Fourth-st. with the south. easterly side of Glenwood-rd. (formerly Avenue G.). running thence northeast. erly parallel with Glenwood-rd. 100 feet to the center line of the block: thence southeasterly along said center line of the block and parallel with East One Hundred and Fourth-st. 20 feet: thence southwesterly parallel with Glenwood-rd. 100 feet to the northeasterly side of East One Hundred and Fourth-st. and thence northwest. erly along the northeasterly side of East One Hundred and Fourth-st 20 feet to the point or place of beginning Right to refect any and all bids shall be at the option of the vendor. MARK W. HEARN, Receiver for the Bank of Flat Rock

7. November 17, 1914 The Detroit Times Detroit, MI
Article from The Detroit Times, November 17, 1914

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that the prosecution of Retan is but a part of a scheme agreed upon by the former depositors. "They told Retan," said Grose. "that he, or Power or someone else would have to make good the losses. or else he would be sent to prison." The name of a prominent Detroit lawyer has been mentioned in connec-tion with this alleged threat made to Retan. The first witnesses called by the defense Tuesday morning contradicted the testimony of Power. Augustus F. Limerich and his wife, of Northville, Mich., formerly of Flat Rock, test-fed that they sold the site on which the Flat Rock bank was built. "Who paid the first deposit?" asked Grose of Mrs. Limerich. "Mr. Power," was the answer. Archibald C. Adams, formerly employed in the Pontiac bank when it was owned by Power, was the next witness. "Did you go from the Pontiac bank to the Bank of Flat Rock?" he was asked. "I did" "Who sent you?" "Mr. Power." "Did you consult with Mr. Power about affairs of the Flat Rock bank?" "I did." "Why did you consult him?" "Because I was under his direction." Following the cross-examination of Mr. Adams, Retan took the stand. The prosecution rested its case, Monday afternoon. Mark W. Hearn, receiver for the defunct bank, was the last witness summoned by the people. He testified that it was next to impossible to realize anything on the notes held by the bank. "We might be able to collect small sums here and there," he said, "but the expenses of the collecting would probably be greater than the returns." Immediately after the prosecution rested, Percy Grose, attorney for Retan made a motion that the proceed-ings be quashed on the ground that the people had not proven their case. The motion was denied. The testimony of former depositors of the Flat Rock bank, other than that of Dennis Dunivan, the complaining witness, was also attacked by Grose as inadmissible. Judge Collingwood reserved his ruling on this point.

8. November 17, 1914 The Detroit Times Detroit, MI
Article from The Detroit Times, November 17, 1914

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that the prosecution of Retan is but a part of a scheme agreed upon by the former depositors. "They told Retan," said Grose. "that he, or Power or someone else would have to make good the losses, or else he would be sent to prison." The name of a prominent Detroit lawyer has been mentioned in connec-tion with this alleged threat made to Retan. The first witnesses called by the defense Tuesday morning contradicted the testimony of Power. Augustus F. Limerich and his wife, of Northville, Mich., formerly of Flat Rock, tes-fed that they sold the site on which the Flat Rock bank was built. "Who paid the first deposit?" asked Grose of Mrs. Limerich. "Mr. Power," was the answer. Archibald C. Adams, formerly em-ployed in the Pontiac bank when it was owned by Power, was the next witness. "Did you go from the Pontiac bank to the Bank of Flat Rock?" he was asked. "I did" "Who sent you?" "Mr. Power." "Did you consult with Mr. Power about affairs of the Flat Rock bank?" "I did." "Why did you consult him?" "Because I was under his direc-tion." Following the cross-examination of Mr. Adams, Retan took the stand. The prosecution rested its case, Monday afternoon. Mark W. Hearn, receiver for the defunct bank, was the last witness summoned by the people. He testified that it was next to impossible to realize anything on the notes held by the bank. "We might be able to collect small sums here and there," he said, "but the expenses of the collecting would probably be greater than the returns." Immediately after the prosecution rested, Percy Grose, attorney for Re-tan made a motion that the proceed-ings be quashed on the ground that the people had not proven their case. The motion was denied. The testi-mony of former depositors of the Flat Rock bank, other than that of Dennis Dunivan, the complaining witness, was also attacked by Grose as inad-missible. Judge Collingwood reserved his ruling on this point.

9. December 28, 1914 The Detroit Times Detroit, MI
Article from The Detroit Times, December 28, 1914

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IN DETROIT The annual meeting and election of the Builders and Traders' exchange will be held Jan. 5 in the exchange rooms on the *third floor of the Penobscot building. Five new directors are to be elected for two-year terms to succeed Henry Otis, H. Roy Haberkorn (deceased), W. Scott Hobbs, August Hess and J. D. Chandler, whose terms expire. The following names have been placed in nomination: T. E. Beck, J. Conrad Brede, William J. Burton, William Malow, William A. C. Miller, Frank M. Pauli, James Roach, Jr., Emil W. Roos, William H. Steger and Otto A. Wurm. A stock dividend of 50 per cent has been declared by the directors of Lee & Cady in addition to the regular cash dividend of 10 per cent. The stock dividend is equivalent to stock of the par value of $375,000. which will increase the capital stock of the company to $1,125,000. The officers of the company are: President, GIIbert W. Lee: vice-president, David D. Cady: secretary and treasurer, George R. Treble: assistant treasurer, Richard F. Galwey; directors, Gilbert W. Lee, David D. Cady, S. J. Campbell. Fred J. Fox and Thomas J. Marsden. In a meeting of the Detroit Newsboys' association, Sunday afternoon, in room No. 401, Telegraph building. President John L. Dexter announced that Mrs. Russell A. Alger, Sr., had given $250 to provide clothing for needy members of the association. Mr. Dexter gave each boy present a pocket knife and a pair of warm gloves. Meno Eby. who, with his wife, Rachael, was awarded $45,000 of the estate of the late George Fenwick, restaurant keeper, died Christmas day, in his home, No. 245 Summitt-ave. Mrs. Eby, 70 years old, declares she cares nothing for the fortune that has been left her in the late years of her life. "I miss my husband,' she says, "but it is sweet to think, that he spent Christmas with his life-long friend. George Fenwick." The Ebys loaned Mr. Fenwick the $9,000 with which he started a restaurant on Woodward-ave, 39 years ago. Fenwick lived with the Eby family more than 40 years. Attorney James 1. Ellmann has sent a letter to Gov. Slattan, of Georgia, asking executive elemency in the case of Leo M. Frank. convicted of homicide and sentenced to death. Judge Van Zile has granted the petition of Mark W. Hearn, who asked that he be discharged as receiver of the defunct Bank of Flat Rock, of Flat Rock, Mich, and that his final accounting be accepted. The bank closed It's doors March 12, 1912. The loss to depositors is about $75,000. Guerd H. Retan, manager, and one of the owners of the bank, recently was acquitted in circuit court. of a charge of obtaining money under false pretenses, in connection with his operation of the bank. Circuit Court Commissioner Samuel T. May will hold an open hearing on the final report of Receiver Hearn, the date for the session not having been fixed.

10. March 3, 1915 The Detroit Times Detroit, MI
Article from The Detroit Times, March 3, 1915

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IN DETROIT Mark W. Heara. nho closed up the affairs of the defunct Bank of Flat Rock, reported that the expense of settling the jumbled accounts of the bank were $2.13 in excess of the amount realized. Hearn was discharged as receiver and the atfairs of the bank were officially closed. Tuesday afternoon, by Judge Hosmer. Hearn said he realtzed a total of $4,288 from the bank's assets. Other accounts, amounting to about $60,000. he reported. were, worthless, Hearn's salary came to $2,746.66, and the expenses not only ate up the remainder of the amount collected, but left a deficit of $2.13. The Detroit hearing of the trap car ease, before Examiner Brown, of the Interstate Commerce commission, was concluded at 10 o'clock, Tuesday night. and was adjourned to Cleveland, where it was resumed Wednesday morning. W. R. Collwell, of the Scotten-Dillon Co., testified, Tuesday, that his concern had shipped 1,700 trap car loads, aggregating 20,000,000 pounds, and that It the proposed tariff were enforced by the railroads, the company would be forced to give up these shipments and depend on teams to haul this freight to the stations. Charles F. Meyler, of the Murphy Chair ,Co., declared on the stand that the product of his firm alone would swamp the facilities of the Wabash, Lake Shore and Grand Trunk roads at Milwaukee Junction. whither all this freight would be teamed If the trap car tariff were sustained.