15017. Euclid Avenue Trust Company (Cleveland, OH)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust
Start Date
January 15, 1902
Location
Cleveland, Ohio (41.499, -81.695)

Metadata

Model
gpt-5-mini
Short Digest
e2ae9ac3dcb87112

Response Measures

None

Description

Newspapers report the Euclid Avenue Trust Company suspended in mid-January 1902 and that its suspension forced the Peoples Bank of Painesville to make a general assignment because Euclid Avenue was its chief correspondent. The articles do not describe a run on the Euclid Avenue Trust, nor do they report reopening; available text suggests a suspension likely severe (other local banks taking action). There is no explicit mention of a receiver or formal closing, so permanent closure is uncertain but the suspension appears to have been consequential. I classify as suspension_closure while noting limited direct evidence of a receiver or final liquidation.

Events (1)

1. January 15, 1902 Suspension
Cause Details
Article simply states the Euclid Avenue Trust Company suspended; no explicit cause (e.g., rumor, insolvency, government action) is given in the texts provided.
Newspaper Excerpt
The action was brought about by the suspension of the Euclid Avenue Trust Company, which, it is understood, was the chief correspondent.
Source
newspapers

Newspaper Articles (2)

Article from The Star, January 15, 1902

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Article Text

OHIO BANK SUSPENDS. Painesville Institution Makes General Assignment to Avoid a Run. The Peoples Bank of Painesville, O., of which Dr. H. C. Brainard, of the suspended Euclid Avenue Bank, of Cleveland, is vice president, and C. H. Stewart, director, made a general assignment Saturday to Harley Barnes, vice president of the Pioneer Trust Company. The action was brought about by the suspension of the Euclid Avenue Trust Company, which, it is understood, was the chief correspondent. It is not thought that this bank will be badly crippled, as it numbers among the stockholders the most stable business men of the town.


Article from The Pacific Commercial Advertiser, January 20, 1902

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Article Text

NEWS CONDENSED Ige Morrow is California trustee he nes B. Carnegie McCreary fund. has been elected or gress from is likely Kentucky. to enlarge West on volutionists modern are lines. exploding bombs streets of Caracas, e ifornia is making a strenuous the Cuban tariff. against cessions have been made to Chile e Pan-American conference. ut. D. H. Jarvis has been Sitka. appointof customs at llector Kansas City, Mexican & Orient oad is making rapid progrèss. Poole, who was attached to dead. the legation at Peking, is Ican American syndicate is planning Han- to a railroad from Canton to a Francis Hope had a foot ampu- accias a result of a shooting shington does not believe in the Vene- Casgime will long hold out lan for the House of Representatives.favors 1 E. Redmond has been re-elected nan of the Irish parliamentary veterans of the Spanish the war ois formed a company to help next world's Sunday school Jeru- conn will probably be held in S officers claim to have ab- VoI ican Fleishman, the Los Angeles 0 I er. pension bill reported in year's the is $6,000,000 less than last V p te. ontana convict attempted to se- of n . pardon by forging the name 1 u velt. eattle man committed suicide in by d g a lighted stick of dynamite q uth. W. Schwab, the steel mag- at S is les said to have won $20,000 Carlo. p iral Schley and Mrs. Schley Savannah, were di a warm welcome at te South. 20 11 McKinley has been given the of ailing privilege by the House 17 d swain entatives. Deignan, one of the U. Hobson's has returned to duty on d os A amer ntract for Independence. sewering and award- paving a for $10,049,000 has been 0 Jersey City firm. Unita biennial convention of the is therhood of Railway Employes ion in San Francisco. S TO a THE a e United States has been by the Chilean congress. IL Anthony, a California man, the was la ed of high treason in aiding M a British courtmartial. [S] by London Times endorses the in- fiscal M als of the Telegraph touching on 1 taxes upon tea and sugar. us a Indians offered their Spirit, medicine JO 8 a sacrifice to the Great re ordance with tribal customs. JO 11 has been introduced in sal- the re providing for an annual life pip $25,000 for all ex-Presidents. sp collier Bristol went on the that rocks ancouver, and it is feared 47 ve may have been drowned. ne ew ds of Judge Noyes are in Wash- Court n. fighting the Ninth Circuit an eals, which found him guilty. in 01 the JO usui medicine Siq B " me Indians, has been tortured tribe. on explate the sins of the to un to New York Central intends the ute electricity for steam as tunnels. power in the New York O., H People's Bank of Painesville, L spended owing to the suspension Euclid Avenue Trust Company. old, ref k Newman, seventeen years at JO prison for twelve years