Newspaper headlines and text report a run that closed the Amherst Bank (Dec 1928). Articles discuss an audit by the state banking department, involvement of E. H. Blair to take over, and mention of director Jacob Baus's suicide — indicating bank-specific adverse information precipitating the run. The bank was closed and taken under control (no reopening mentioned).
Events (2)
1.December 20, 1928Run
Cause
Bank Specific Adverse Info
Cause Details
Reports and circumstances around director Jacob Baus's death (verdict of suicide) and ensuing turmoil among directors precipitated heavy withdrawals.
Measures
Depositors were paid at least initially; directors held special meeting and attempted arrangements with E. H. Blair to take over.
Newspaper Excerpt
Run Closes Amherst Bank
Source
newspapers
2.December 20, 1928Suspension
Cause
Government Action
Cause Details
State banking department intervened, ordered closure and commenced an audit; control arrangements were being made with E. H. Blair.
Newspaper Excerpt
the state banking depart... announced... bank would be closed an audit started... Blair... to make over the institution
Run Closes Amherst Bank
(Continued From Page One) may within six weeks his profes the bank Is solvent. Bank was found day. long before the opening, long line depositors was milling about the bank All were paid and a special meeting of called last had verdict of suicide in the death of Baus. The cot under way but was five hours before directors were able to agree riosing and word was to Blair to inke over the Institution, All early chees of the bank's did not stow any OR for the protection of depositors.
2.December 20, 1928Telegraph-ForumBucyrus, OH
Click image to open full size in new tab
Article Text
the state banking depart over the company which morning, E. H. Blair of banks, announced fice here. According to Blair immediately following Jacob Baus, 60, director last Monday Blair bank would be closed an audit started & is in Amherst today lieved plan would whereby the bank can six weeks W. H. Schibley is Amherst bank was 5, 1906 with capital and surpluses are equal to that amount sets to the last parment attorney, to Amherst W. Ske aminer. has been in An eral days checking the
