Other: Bank closed by state banking commissioner after discovery of forged notes; depositors forced doors following closure.
Description
Bank was closed by the Michigan banking commissioner after discovery of nearly $10,000 in forged notes. Depositors subsequently forced entry/ran on the bank. Article gives no evidence of a successful reopening; I classify as suspension followed by depositor agitation and ultimate closure/continues closed (no reopening reported). Dates inferred from article publication: commissioner closed bank the previous Saturday (1912-02-03).
Events (3)
1.February 3, 1912Suspension
Cause
Government Action
Cause Details
Closed by the state banking commissioner after discovery of nearly $10,000 in forged notes
Newspaper Excerpt
State Savings bank which was closed by the banking commissioner Saturday night
Source
newspapers
2.February 6, 1912Other
Newspaper Excerpt
Angry depositors broke open the doors and demanded that they be paid their money. It was some time before the crowd would be contented with explanations and promises, that they would be paid in full.
Source
newspapers
3.February 8, 1912Other
Newspaper Excerpt
The losing of the State Savings bank at Dowagiac... because of the discovery of forged notes and the consequent closing... caused a run on his private bank here yesterday, and it is closed today.
Source
newspapers
Newspaper Articles (2)
1.February 6, 1912The Detroit TimesDetroit, MI
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Article Text
ANGRY DEPOSITORS BREAK OPEN DOORS DOWAGIAC, Mich., Feb. 6.-E. B. Jenney.. principal stockholder and cashier of the State Savings bank which was closed by the banking commissioner Saturday night, said today that forged notes for nearly $10,000, which he says caused the suspension will be made good by the bank and that he hopes to open up again for business within a few days. Angry depositors broke open the doors and demanded that they be paid their money. It was some time before the crowd would be contented with explanations and promises, that they would be paid in full.
2.February 8, 1912The Detroit TimesDetroit, MI
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Article Text
HIRD BANK OWNED BY JENNEY CLOSES DOORS ivate Bank at Sheridan Suspends Business After Run By Depositors SHERIDAN, Mich., Feb. 8.-The losing of the State Savings bank at Dowagiac, of which E. Bert Jenney the cashier and principal stockolder, because of the discovery of forged notes and the consequent closmg of his bank at Lennon. caused a run on his private bank here yesterday, and it is closed today. The depositors made a run on the Institution and were paid as long as the funds held out. Then the doors were closed.
