15218. Farmers Savings & Trust Company (Mansfield, OH)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
trust
Start Date
November 4, 1931
Location
Mansfield, Ohio (40.758, -82.515)

Metadata

Model
gpt-5-mini
Short Digest
ffd17353f470f404

Response Measures

None

Description

Newspaper items show the Farmers' Savings & Trust Co. at Mansfield experienced heavy withdrawals and was taken over by the state banking department in early November 1931. The bank was closed/suspended and placed in the superintendent's charge; liquidation proceedings are referenced in April 1932, but other items (June–July 1932) report a reopening and payments to depositors and the bank is listed among institutions reopened in 1932. Classification: run → suspension (state takeover) → reopening. OCR in Article 1 is garbled; I used the Kokomo Tribune (1931-11-04) date to place the initial takeover/closure.

Events (5)
1. November 4, 1931 Run
Cause
Macro News
Cause Details
Steady withdrawals by depositors leading to closure; reported in press as part of wider bank closings/panic context.
Measures
None described to stop withdrawals prior to suspension; state banking department took over the institution.
Newspaper Excerpt
Two Ohio banks closed last week, the Farmers' Savings and Trust Co. at Mansfield, O.... The reason given for the closing of both banks was steady withdrawals by depositors.
Source
newspapers
2. November 4, 1931 Suspension
Cause
Government Action
Cause Details
State banking department took over the bank and it did not open following heavy withdrawals; the department assumed control.
Newspaper Excerpt
In Mansfield, Ohio... state banking department today taken over the Farmers Savings and Trust company
Source
newspapers
3. April 15, 1932 Receivership
Newspaper Excerpt
Ira Fulton, superintendent of banks in charge the liquidation of the Farmers Savings Trust Co., today asked pleas court to declare null and void ... in order that the interests of the creditors be protected. (News Journal, Mansfield, OH, 1932-04-15).
Source
newspapers
4. June 1, 1932* Reopening
Newspaper Excerpt
TO REOPEN BANK MANSFIELD June Reopening the Farmers closed resume (The Times Recorder, Zanesville, OH, 1932-06-14).
Source
newspapers
5. July 14, 1932 Other
Newspaper Excerpt
Mansfield, O., July 14-The Farmers Savings Bank & Trust Co., will pay another 10 percent, amounting to $150,000, to depositors tomorrow.
Source
newspapers

Newspaper Articles (6)
1. November 4, 1931 The Kokomo Tribune Kokomo, IN
Article from The Kokomo Tribune, November 4, 1931

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Article Text

BANK KY., OF ONE AT SIZEONE IN INDIANA. Ky., Nov. rectors of the with of nearly bank, resources 500,000, voted not to open and turned its affairs the state banking department. Heavy forced the The withdrawals the Citizens institution took over here eighteen months ago. bank published statement showThe ed deposits of One Rossville. Nov. Union State Bank of Rossville, did not open its Clinton doors Luther state banking nounced. The institution was italized $25,000. Total resources the bank were The president given institution Beyler and the cashier, Odrian Smith In Mansfield, Ohio. Columbus, Nov. state banking department today taken over the nounced Farmers Savings and Trust comof for pany The bank had stock on Sep$282,500 and resources of $2,973,770.

2. November 13, 1931 The Daily Worker New York, Chicago, NY
Article from The Daily Worker, November 13, 1931

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Article Text

Mansfield and Dayton Banks in Big Crash CLEVELAND, O.-Two Ohio banks closed last week, the Farmers' Savings and Trust Co. at Mansfield, O. and the Union Trust Company at Dayton. The reason given for the closing of both banks was steady withdrawals by depositors. The Dayton bank was one of the largest in the city. Its reported resources on September 29 amounted to over $3,000,000.

3. April 15, 1932 News Journal Mansfield, OH
Article from News Journal, April 15, 1932

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Article Text

REALTY TRANSFER ATTACKED IN SUIT Of Conveyance Pact Dissolution Asked In Court Ira Fulton, superintendent of banks in charge the liquidation of of the Farmers Savings Trust Co., today asked pleas court to declare null and void by Frank M. Neff to his wife, Minnie Neff. of estate levied on by the plaintiff satisfaction of judgment for secured of alleged in that defendant, Mr. Neff. has transferred the real estate to his he judgment awarded The plaintiff, represented by Attor General Gilbert and Prosecuting Attorney Kalbasks the interests the creditors be protected.

4. June 14, 1932 The Times Recorder Zanesville, OH
Article from The Times Recorder, June 14, 1932

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Article Text

Seek Men Who Robbed Seville Bank SEVILLE June Ohio tonight who today walked gunmen the Seville State bank, tied the cashier and about They month third picked up the The both and wearing overalls, entered shortly and president the them Looting they disappeared was lost near The Sheriff Bufup by Medina north Seville. ON TRIALS YOUNGSTOWN tax ments today the Mahoning county judges and decide will held before 1933 The pected to the county $15,000. KILLED BY TRAIN Hugh Bates, councilBaltimore & the prominent in state Ma. sonic TO REOPEN BANK MANSFIELD June Reopening the Farmers closed resume

5. July 15, 1932 The Public Ledger Maysville, KY
Article from The Public Ledger, July 15, 1932

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Article Text

She's Nicest Dog! So Doctors Operate New York, July 13-Little Lucy Graux, just 11 years old, walked into a hospital for the rupture and crippled carrying in her arms a little white puppy-dog. "This is Trixie," she told Dr. Edward Barnett, "and her leg is broken, and the dog-doctor said he would have to kill her; but I didn't want him to kill her because she is the nicest dog in the world, and so I brought her to your hospital." Dr. Barnett called in three other doctors. This was no simple case. It called for consultation, X-rays were made. The doctors pondered. Finally they placed Trixie on the operating table, put her to sleep with hypodermic, carefully reduced the fracture and put the leg in cast. Lucy Graux, beaming. and with a frightened but convalescing Trixie in her arms, looked up at the four doctors. "Thank you very much," she said "I was very sorry to bother you, but Trixie just couldn't die, because she is the nicest dog in the world." The doctors bowed. "You are entirely welcome," they smiled back. The hospital cashier cast a startled look at the doctors, shrugged his shoulders and tore up the bill. Mansfield, O., July 14-The Farmers Savings Bank & Trust Co., will pay another 10 percent, amounting to $150,000, to depositors tomorrow.

6. November 4, 1932 News Journal Mansfield, OH
Article from News Journal, November 4, 1932

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Article Text

'OFFICER 666' HARRY DOTSON To The News ASHLAND, Nov. 4-Harry Dotson and Miss June Hale of Mansfield have prominent parts in the farce, "Officer 666", which will be presented in McDowell auditorium here Saturday at 8 p.m. as the climax of the college's homecoming day program. Dotson is cast in the title role. ilized now both in Ohio and in other states. Many Already Reopened Among the banks reopened this year are several of unusual size, such as the Dollar Savings & Trust Co. and the City Trust & Savings bank, both of Youngstown; the George D. Harter bank, Canton; the Richland Trust Co. and the Farmers' Savings & Trust Co., both of Mansfield, and the City Savings Bank & Trust Co., Alliance. Other important institutions reopened included the Seville State bank, Seville; the Farmers' & Citizens' Banking Co., Monroeville; the Antwerp Exchange bank, Antwerp, and the Bank of Leipsic Co., Leipsic. Theodore H. Tangeman, state director of and member of Governor White's cabinet, has assisted Superintendent Fulton in working out the bank reopening plans which the state department has put into effect. A student of finance, he has been in position to render effective aid in the state's bank reorganization work. Charles G. Saffin Jr., attorneyexaminer in the department of banks, has been factor in all of the bank reopenings worked out by the department.