15062. Columbus National Bank (Columbus, OH)

Bank Information

Episode Type
Run โ†’ Suspension โ†’ Closure
Bank Type
national
Bank ID
12350
Charter Number
12350
Start Date
June 29, 1931
Location
Columbus, Ohio (39.961, -82.999)

Metadata

Model
gpt-5-mini
Short Digest
42e94123891f262e

Response Measures

Public signal of financial health, Capital injected, Full suspension

Receivership Details

Depositor recovery rate
47.5%
Date receivership started
1931-08-11
Date receivership terminated
1937-12-21
OCC cause of failure
Losses

Description

Multiple newspaper reports (dated 1931-06-29) state the Columbus National Bank suspended business after heavy withdrawals and psychological effects of other bank failures. The Columbus Clearing House association purchased the assets, business and goodwill and assured depositors would be paid in full. The articles do not describe a resumption of operations under the same bank name; the clearing house takeover indicates permanent closure/takeover.

Events (5)

1. April 6, 1923 Chartered
Source
historical_nic
2. June 29, 1931 Other
Newspaper Excerpt
representing all Columbus banks, has purchased the assets, business and good will of the bank. Assurance that depositors of the Columbus National bank will be paid in full was given today as the institution suspended business. All Depositors to be Given Their Money, According to Manager Today. Clearing House Takes Over Assets Assures Full Payoff Clearing House Takes Over Assets Assures Full Payoff By Post State COLUMBUS, O., June the Columbus National Bank suspended business today, Albert Binder, manager of the Columbus Clearing House Association, which, the said depositors would be paid The bank had been weakened assets, psychological effect many bank suspensions thruout country and recent uneasiness caused anxious patrons making heavy withdrawals, officials were today demands 2400 with They were ordered not to accept deposits.
Source
newspapers
3. June 29, 1931 Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy withdrawals driven by anxiety over other bank suspensions and weakened/frozen assets led depositors to withdraw funds.
Measures
Columbus Clearing House association purchased the assets, business and good will; officials ordered banks not to accept deposits (temporary protective measures).
Newspaper Excerpt
the recent uneasiness caused by patrons making heavy withdrawals
Source
newspapers
4. June 29, 1931 Suspension
Cause
Local Banks
Cause Details
Suspension attributed to weakened/frozen assets and the psychological effect of other bank suspensions nationwide combined with heavy withdrawals by patrons.
Newspaper Excerpt
the Columbus National bank suspended business today
Source
newspapers
5. August 11, 1931 Receivership
Source
historical_nic

Newspaper Articles (3)

Article from The Zanesville Signal, June 29, 1931

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Article Text

Away They Go! Harness Racing Opens at Cleveland Oval Cleveland. June The gentlemen and thoroughbreds of harness and silks were here today to inaugurate the 1931 renewal of the historic North Randall Grand trot. Pre-season trials and the presence of champion trotters and pacers presaged record times for the carnival. Four races, including the $2,000 Fasig year-old trotting sweepstakes, were scheduled on the opening day program. The feature sweepstakes was to send ribbon trotters to the barrier. Post Haste. 2:05 1-4, world champion two-year-old, was the ruling favorite in the sweepstakes over Pat Junior, Stellate, Pocahontas, Calumet Boston, Senator Locke and Expectation. The P. W. Harvey owned trotter was be driven by Sam Caton, Russian master of the In the second event, handicap pace, Winnipeg, 1:51 and Kinney Direct, were heavily backed. Winnipeg was the fleetest pacing gelding on the harness turf while Kinney negotiated the fastest mile ever done in its Sir Walter. 3-4; Callie Direct, 2:02; Britton. 2:03: and Goldywood, 2:05 were other handicap entries. The other two events on the card include the pacing division of the champion stallion stake for threeyear olds and the 11 trot. In the race, Calumet Budlong, Cherry the Great, and Calumet Brownie were to meet. The 2:11 trot field includes Moronto J., Looke Bunger, Hal Watts, General Walker, Peter Goldfish and Rosie Guy.. A. H. Pendleton. Chicago, was to start the first event at 2 o'clock. GLEANERS TO MEET The Market Street Baptist Sunday school, will meet Tuesday evening at the home of Mrs. Paul Meyer, 532 Porter avenue. All are urged to attend and bring photographs of themselves. DELAWARE O., June 29.-Ministers and laymen of the Methodist COMPANY Episcopal church, gathering here for a ten-day study conference, today adopted report tracing the developPhone 3511 ment of the "secular" spirit in the life of and nations, and in the life of the church itself. The report said confess the spirit of secularism has made its influence felt within the church and Most prospective home owners be- among its ministers.' The conferlieve that the type wall chosen for ence secularism as "a growthe new home will make ing mood and way of life charactererable difference in total cost, yet istic of our age exhibits Itself surveys made by the American Face in the of men with Brick association that face material things and interest to the brick costs only to per cent more increasing and possible than frame. depending upon whether exclusion of the realization of man's the walls are veneer or solid masonry primary need moral and religious construction. aspects and interests." COLUMBUS, O., June 29.-Assurthat of the Columbus National bank will be paid in full was given today as the institution suspended business. The announcement was made by Albert Binder manager of the Columbus Clearing House association which, representing all Columbus has purchasthe assets, business and good will of the bank. Weakened frozen assets, the psychological effect of other bank suspensions throughout the country and the recent uneasiness caused by patrons making heavy withdrawals. the Columbus National bank was forced to suspend. Manufacturers of face brick have experimented with colors and textures until now almost every shade from the lightest cream through reds, greens, to gun metal blacks tures. are available in a wide variety of tex. SANDUSKY, O., June 29. George Klotz. 36, lost his speech after an accident two years ago, today had retained his voice as the result of severe blow on the head. Robert Garrison, also Toledo, who hit Klotz with a stone, was not held.


Article from The Piqua Daily Call, June 29, 1931

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Article Text

COLUMBUS BANK IS PAY ACCOUNTS All Depositors to be Given Their Money, According to Manager Today. Columbus, O., June 29, surance that depositors of the Co lumbus National bank will be paid in full was given today as the in. stitution suspended business. The announcement was made by Albert Binder, manager of the Inmbus Clearing House Association, which, representing all Columbus banks, has purchased the assots, business and good will of bank. Weakened by frozen assets, the psychological effect of other bank suspensions throughout the country and the recont uneasiness caused by anxious patrons making heavy withdrawals, the Columbus National bank was forced to suspond.


Article from The Cincinnati Post, June 29, 1931

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Article Text

NATIONAL BANK AT COLUMBUS SUSPENDS Clearing House Takes Over Assets Assures Full Payoff By Post State COLUMBUS, O., June the Columbus National Bank suspended business today, Albert Binder, manager of the Columbus Clearing House Association. which the said depositors would be paid The bank had been weakened assets, psychological effect many bank suspensions thruout country and recent uneasiness caused anxious patrons making heavy withdrawals, officials were today demands 2400 with They were ordered not to accept deposits.