15231. Marion Savings Bank (Marion, OH)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
November 8, 1932
Location
Marion, Ohio (40.589, -83.129)

Metadata

Model
gpt-5-mini
Short Digest
d8aeb490b28cdeb9

Response Measures

None

Description

Newspaper items from 1932–1933 show the Marion Savings Bank in liquidation with a state banking receiver (Fulton) in charge and seeking RFC funds to pay a dividend; no articles describe a depositor run or reopening. The bank appears to have been closed and placed in receivership (liquidation), so classified as a suspension leading to closure. Dates are taken from the article publication dates because no explicit suspension date is given.

Events (2)
1. November 8, 1932 Receivership
Newspaper Excerpt
Fulton, superintendent of banks in charge of the liquidation of assets of the Marion Savings bank, ... authorized by Judge George Scofield ... borrow $20,500 from the ... Finance corporation ... to pay dividend to depositors and general creditors. Lusk today said that the application for the loan must go through procedure before the loan be obtained.
Source
newspapers
2. May 16, 1933 Other
Newspaper Excerpt
Asks Judgment Fulton, superintendent of banks in charge of the liquidation of assets of the Marion Savings bank, seeks judgment for common pleas court action against John Brugger and others.
Source
newspapers

Newspaper Articles (2)
1. November 8, 1932 The Marion Star Marion, OH
Article from The Marion Star, November 8, 1932

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Article Text

BANK RECEIVER TO ASK Administrator To Request $20,500 from R. F. C. for Marion Savings Dividend. Don representative the state banking department liquidating assets of the charge Marion Savings bank, has authorized by Judge George Scofield court borrow $20,500 from the tion and to cent dividend to an eight positors and general creditors bank. The bank previously paid 10 per cent dividend. Lusk today said that the applica tion for the loan must go through procedure before the loan be obtained The dividend until the loan has been be paid which several obtained, weeks from he said Financial obtain loans from the Finance corporation by furnishing in the form assets which security sound but which are not

2. May 16, 1933 The Marion Star Marion, OH
Article from The Marion Star, May 16, 1933

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Article Text

RECEIVER NAMED IN PASS BOOK ACTION Mrs. Edna Bodiey Kennedy of Marion has filed suit in common pleas against Jones, receiver for the Marion National bank, to recover Citizens' Building Loan Co. deposit book which according to the petition, assigned to Mr Jones without any consideration return The deposit account the loan company showed balance of $1,632.15 when she assigned according to the petition. She seeks amounts that also recover the receiver for the loan company given the Marion might have National bank receiver on the account. attorney this Mrs. Kennedy's morning explained that she had been induced assign the deposit account as additional security National bank loan held by Marion her father. She represented by the law firm of Jacoby & Jacoby, Asks Judgment Fulton, superintendent of banks in charge of the liquidation of assets of the Marion Savings bank, seeks judgment for common pleas court action against John Brugger and others Fulton is represented by the firm of Carhart, Warner & Carhart.