Coolidge & Mcclaine Bank (Silverton, OR)

Episode Information

Episode UID
96009471604
Episode Type
Suspension → Reopening
Bank Type
state
Bank ID
9600947 routing
Routing Number
96-0094
Start Date
August 15, 1933
Location
Silverton, Oregon (45.005, -122.783)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
5d0fea89a50caf60

Response Measures

None

Description

Suspension orders are state-board actions; reorganization and reopening occurred July 1934.

Events (3)
1. August 15, 1933 Suspension
Cause
Government Action
Cause Details
State banking board/state superintendent extended suspension orders for a period of restriction.
Newspaper Excerpt
Coolidge & McClaine bank at Silverton, suspension extended until September 11.
Source
newspapers
2. May 30, 1934 Suspension
Cause
Government Action
Cause Details
State banking board conditionally extended suspension pending written waivers, surrender of stock certificates and cash deposits for subscriptions.
Newspaper Excerpt
A conditional extension of the suspension of the Coolidge & McClaine bank Silverton also approved by the banking board
Source
newspapers
3. July 10, 1934 Reopening
Newspaper Excerpt
With the opening of the Coolidge & McClaine bank as reorganized business life has quickened considerable at Silverton during the first two days of the business week, it was said here today.
Source
newspapers

Newspaper Articles (4)
1. August 15, 1933 The Bulletin Bend, OR

Article Text

Washington County bank at Burns. suspension extended until August 30. Bank of Beaverton. suspension extended until August 30. Bank of Sellwood at Portland. suspension extended until August 30 Eastern Oregon Banking Co. at Shaniko, suspension extended to September Coolidge & McClaine bank at Silverton, suspension extended until September 11. In addition to these extensions, orders were issued authorizing additional releases of deposits in three as follows: Albany State bank. an additional release of per cent deposits in the commerc department effective August 18, making total unrestricted dpeosits the commercial department of 15 per cent and in savings department of 10 per cent Washington County bank, an additional release 5 per cent of all deposits effective August 21, making total unrestricted balance of 20 per cent in both departments Bank of Sellwood, an additional release of 10 per cent of deposits in the savings department effectvie August making total unrestricted balance in the savings department of 20 per cent and in the commercial department of 10 per cent. Washington. Aug. organization plays for the First National bank of North Bend, Ore., have been rejected by the comptroller of the currency, the United Press learned today The bank, was understood, at present formulating new to be submitted to the treasury department so that it may be granted license to reopen.

2. August 16, 1933 The Oregon Daily Journal Portland, OR

Article Text

for riods of restriction of nine Oregon banks announced Tuesday by Bank Superintendent A. A. Schramm. Previous restrictions expired last night. The banks are: Albany State bank suspension extended August Bank of Amity, suspension extended September Aumsville State bank, suspension extended until September 11. Washington County bank at Banks, suspension extended until August 30. Bank Beaverton. suspension extended until August 30. Bank of Sellwood Portinad suspension extended until August Eastern Oregon Banking company at Shaniko suspension extended to September 11. Coolidge & McClaine bank at Silverton, suspension extended until September In addition to these extensions. ordreleases of deposits in three banks, as follows: Albany State bank. An additional release deposits in the commercial effective August 18. making total deposits in the department 15 per cent and in savings depart10 per bank, an additional release of cent. of deposits effective 21, total unrestricted balance of 20 per cent. in both Bank of Sellwood. An additional release of 10 per cent of deposits in the department effective August 18, total unrestricted the department of 20 per cent. and in the commercial department of 10 per cent. PLANS FOR NORTH BEND BANK REOPENING REJECTED Washington, Aug. -(U.P)-Reorganization plans for the First National Bank of North Bend, have been rejected by the of the currency, the United Press learned The bank. it was understood. at present new plans be submitted to the treasury department so that it may be granted a 11cense to

3. May 30, 1934 The Oregon Daily Journal Portland, OR

Article Text

Bank Suspension Orders Extended Salem. May 30.-Extension of the suspension order under the Bank of Sellwood Portland, has been operating until June 15 was approved by the state banking board Tuesday The board also the suspension of the Bank of Beaverton until June A conditional extension of the sus. pension of the Coolidge & McClaine bank Silverton also approved by the banking board This extension conditioned the deposits of additional written uncondition al waivers in the commercial department amounting to $17,152.22 surrender of all stock certificates of the bank and the deposit of cash for all stock subscriptions.

4. July 11, 1934 Statesman Journal Salem, OR

Article Text

TRUSTEES HANDLE OLD BANK ASSETS Reopening of Coolidge & McClaine Bank Quickens Business in Silverton SILVERTON, July 10.—Officials of the Coolidge and McClaine bank at Silverton said Tuesday that the assets not set over to the re-organized Coolidge and McClaine bank, have been transferred to the care of three trustees, Otto A. Legard, G. D. Bowen and E. L. Starr. It was provided in the waiver deposit agreement, signed by depositors of the old bank, that the trustees be allowed seven years in which to finish their work. It was indicated here today that within the next few days an office will likely be opened elsewhere at Silverton where business with the old organization will be cared for. The office it was said, would not be in the hands of a bank receiver. Just who will be in charge of this office was not made known here today. With the opening of the Coolidge & McClaine bank as reorganized business life has quickened considerable at Silverton during the first two days of the business week, it was said here today. Business men and friends flocked in to open accounts with the new organization and to E. S. Porter, a member of the board of directors, fell the honor of opening the first account. The lobby of the bank was gay on Monday and Tuesday with baskets of flowers and friends bringing "good luck" and "congratulations" to the committee which was largely responsible for the reorganization. George Hubbs, as chairman of this committee, was official host. Among the floral greetings were those from the Bank of California, United States National bank of Portland, Legard and Adams, E. R. Adams, E. C. Apperson and L. H. Briedwell of McMinnville and Roy Morley.