Multiple contemporaneous articles (April 5โ7, 1904) report the Akron Savings Bank closed by court appointment of receivers after the Akron Clearing House Association compelled the bank to make all its clearings in cash. No article describes a depositor run prior to the suspension; the bank reopened within a day or two with receivers in charge.
Events (2)
1.April 5, 1904Suspension
Cause
Correspondent
Cause Details
Akron Clearing House Association compelled the bank to make all its clearings in cash, precipitating the suspension.
Newspaper Excerpt
The doors of the Akron Savings Bank were closed today and receivers appointed... The action was precipitated as a result of the Akron Clearing House association compelling the bank to make all its clearings in cash.
Source
newspapers
2.April 6, 1904Reopening
Newspaper Excerpt
The Akron Savings bank, which closed yesterday, reopened its doors to-day for business, with the receivers in charge.
Source
newspapers
Newspaper Articles (18)
1.April 5, 1904Evening Times-RepublicanMarshalltown, IA
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Akron Bank Closes. Akron, Ohio, April 5.-The doors of the Akron Savings Bank were closed today and receivers appointed. The action was precipitated as a result of the Akron Clearing House Association compelling the bank to make all its clearings in cash. William Buchtell is president of the bank. The capital stock is $200,000; surplus, $50,000; deposits, $850,000.
2.April 5, 1904The Daily TelegramClarksburg, WV
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AKRON SAVINGS BANK CLOSES. By Associated Press. Akron, Ohio, April 5-The Akron Savings Bank closed its doors to-day. G. W. Seibet and William Duchtell were appointed receivers of the bank. be clearing house demanded the bank ke its clearings in cash. This ed the suspension. The capital of institution is $200,000; surplus, $50.000: deposits, $850,000. An official statement of the bank's condition published yesterday showed resources to be $1,151,910 and the lia. bilities the same.
3.April 5, 1904The Daily TribuneFlorence, CO
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TWO BANK FAILURES. Guthrie, Oklahoma, Bank Creates Great Excitement. Guthrie, Okla., April 5-The Na tional Bank Examiner Sturdevant today took charge of the Capital Na tional bank of this place as receiver. The failure of this supposed solid intitution has caused gieat excitement and general rerget. Many prominent citizens will lose heavily by the fail. ure Akron, O., April 5-The Akron Savings bank failed today. No reasou for the closing of its doors are given.
4.April 5, 1904Rock Island ArgusRock Island, IL
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AKRON SAVINGS BANK IS IN HANDS OF RECEIVERS Akron, Ohio, April 5.-The doors of the Akron Savings bank were closed today and receivers appointed. The action was precipitated as a result of the Akron Clearing House association compelling the bank to make all its clearings in cash. William Buchtel is president of the bank. The capital stock is $200,000 and the surplus $50,000. The deposits are $850,000.
5.April 5, 1904Deseret Evening NewsSalt Lake City, UT
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Akron, O., Bank Fails. Akron, April 5.-The Akron Savings bank closed its doors today. The common pleas court appointed G. W. Seiber and Wm. Buchtel receivers of the institution. The action was precipitated as a result of the Akron Clearing House association compelling the bank to make all its clearings in cash. Wm. Buchtel is president of the bank. It has a capital stock of $200,000 and deposits amounting to about $850,000.
6.April 5, 1904Evening StarWashington, DC
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Akron Savings Bank Closes Doors. AKRON, Ohio, April 5.-The doors of the Akron Savings Bank were closed today and the common pleas court appointed G. W. Serber and Wm. Buchtel receivers of the institution. The action was precipitated as a result of the Akron Clearing House Association compelling the bank to make all its clearings in cash. Wm. Buchtel is president of the bank. It has a capital stock of $200,000; surplus, $50,000, and deposits amounting to about $850,000.
7.April 6, 1904New-York TribuneNew York, NY
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AKRON (OHIO) SAVINGS BANK FAILS. Akron. Ohio, April 6-The doors of the Akron Savings Bank were closed to-day and the Common Pleas Court appointed C. W. Seiber and William Buchtel receivers of the institution. The action was precipitated as a result of the Akron Clearing House Association compelling the bank to make all its clearings in cash. William Buchtel is president of the bank. It has a capital stock of $200,000; surplus, $50,000, and deposits amounting to about $850,000. An official statement of the bank's condition published yesterday showed its resources to be $1,151,910, with liabilities the same.
8.April 6, 1904The Indianapolis JournalIndianapolis, IN
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AKRON SAVINGS BANK IN RECEIVERS' HANDS Clearing House Had Enforced the Making of All Its Clearings in Cash. AKRON, O., April 5.-The doors of the Akron Savings Bank were closed to-day and the Common Pleas Court appointed G. W. Seiber and William Buchtel receivers of the institution. The action was precipitated as a result of the Akron Clearing House Association compelling the bank to make all its clearings in cash. William Buchtel is president of the bank. It has a capital stock of $200,000, surplus $50,000 and deposits amounting to about $850,000. An official statement of the bank's condition published yesterday showed its resources to be $1,151,910, with liabilities the same.
9.April 6, 1904Bismarck Daily TribuneBismarck, ND
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BANK SUSPENDS. AKRON (o.) Institution Had Deposits of About $850,000. Akron, O., April 6.-The doors of the Akron Savings bank were closed during the day and the common pleas court appointed G. W. Zeiber and William Buchtel receivers of the institution. The action was precipitated as a result of the Akron Clearinghouse association compelling the bank to make all its clearings in cash. William Buchtel is president of the bank. It has a capital stock of $200,000; surplus $50,000 and deposits amounting to about $850.000. An official statement of the bank's condition shows its resources to be $1,151,910, with liabilities the same.
10.April 7, 1904Rock Island ArgusRock Island, IL
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Bank Reopens for Business. Akron, O., April 7.-The Akron Savings bank, which closed Tuesday, has reopened its doors for business, with the receivers,
Depositors Safe. Akron, O., April .-The Akron Savings bank, which closed Tuesday, reopened its doors Wednesday for business, with receivers in charge. Suits to enforce stockholders' liability law have been filed, and as a majority of the stockholders are people of wealth It is certain that depositors will not lose a ce. L
12.April 7, 1904The Daily Morning Journal and CourierNew Haven, CT
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Akron Bank Opens Again. Akron. O., April 6.-The Akron Savings bank, which closed yesterday and opened its doors to-day for business with the receivers, William Buchtel and G. W. Sieber in charge. It is practically certain that their depositors will not lose a cent.
13.April 7, 1904The Indianapolis JournalIndianapolis, IN
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Savings Bank Reopens. AKRON, O., April 6.-The' Akron Savings Bank, which closed yesterday, reopened its doors to-day for business, with the receivers, William Buchtel and G. W. Sieber, in charge. While the officials of the bank have not issued a formal statement, it is believed that the depositors will be paid in full.
14.April 8, 1904The Stark County DemocratCanton, OH
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The Akron Savings bank which went by the boards has opened its doors for business under the direction of the receivers who were appointed by the court. It is said the bank had a good volume of business, but there was poor management and neglect.
15.April 8, 1904The Forrest City TimesForrest City, AR
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BANK'S DOORS ARE CLOSED. The Akron (0.) vings Bank Closed and Receivers Appointed by Common Pleas Court. | Akron, O., April 6.-The doors of the Akron savings bank were closed, Tuesday, and the common pleas court appointed G. W. Seiber and Wm. Buchtel receivers of the institution. The action was precipitated as a result of the Akron clearing house association compelling the bank to make all its clearings in cash. William Buchtel is president of the bank. It has a capital stock of $200,000. Surplus $50,000 and deposits amounting to about $850,000.
16.April 9, 1904The Labor WorldDuluth, MN
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BANK RE-OPENS AKRON, Ohio, April 6.-The Akron Savings bank which closed yesterday re-opened its doors today for business with the receivers in charge. It is believed that the depositors will be paid in full.
17.April 12, 1904Wausau PilotWausau, WI
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Akron Savings Bank Fails. The doors of the Akron, Ohio, Savings Bank were closed Tuesday and the Common Pleas Court appointed G. W. Seiber and William Buchtel receivers of the institution. The action was precipitated as a result of the Akron Clearing House Association compelling the bank to make all its clearings in cash.
18.April 15, 1904The Ely MinerEly, MN
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DOMESTIC. Six suicides were reported in one day in New York city, most of the victims being out of work. The brokerage firm of W. B. Mack & Co. has suspended in New York, being the sixth of J. P. Morgan's former employes to meet with reverses after going into business independently. An expert's report declares ten western railroads lost $1,250,000 in 1903 through payment of excessive switching charges to industrial railroads. A woman of social prominence is suspected in connection with the murder of Miss Mabel Page in a suburb of Boston. The Citizens' bank at McLeod, Okla., with a capital of $10,000, closed its doors. Judge James C. Jenkins, of Atlanta, Ga., has been appointed a judge at large of the court of first instance of the Philippine islands. The battleship Virginia was launched at Newport News. It is the largest fighting craft in the United States navy now afloat. Five persons were drowned in the Gulf of Mexico near Sutherland, Fla., as a result of a boat from a Methodist college capsizing. Judge Sale, of St. Louis, granted a woman a divorce, saying that the only charge she need prove was that her husband slapped her face. The Akron (0.) Savings bank, with deposits of $850,000, closed its doors and receivers were appointed. Clark Ridley, an aged miner of New Bedford, Mass., after saving $15,000 in 85 years, is giving it away, hoping to die poor. The arrest of women wearing red skirts has been ordered by Pennsylvania railroad officials if they appear on railroad grounds. The Chicago Business Woman's club has gone into bankruptcy, its debts amounting to $12,000. United States warships will protect the property of the Panama railroad during the strike on the isthmus, according to the decision at a cabinet meeting. At St. Louis United States Senator J. R. Burton, of Kansas, was sentenced to six months' imprisonment in the Iron county jail, Missouri, and fined $2,500 for having been convicted of using his influence before the post office department in behalf of the Rialto Grain & Securities company, of St. Louis, and having received payment from the company for his services.