15304. First National Bank (Orrville, OH)

Bank Information

Episode Type
Run โ†’ Suspension โ†’ Closure
Bank Type
national
Bank ID
6379
Charter Number
6379
Start Date
September 27, 1905
Location
Orrville, Ohio (40.844, -81.764)

Metadata

Model
gpt-5-mini
Short Digest
6115aef33af4d4f6

Response Measures

Full suspension

Other: Comptroller of the Currency ordered the bank closed and appointed a national bank examiner (George T. Cutts) as receiver.

Receivership Details

Depositor recovery rate
78.0%
Date receivership started
1905-09-27
Date receivership terminated
1907-09-24
OCC cause of failure
Excessive lending
Share of assets assessed as good
20.4%
Share of assets assessed as doubtful
61.8%
Share of assets assessed as worthless
17.8%

Description

Multiple contemporary newspaper dispatches (dated Sept 27โ€“28, 1905) report a continuous run on the First National Bank of Orrville, Ohio; the Comptroller of the Currency ordered the bank closed and appointed George T. Cutts receiver. Local contagion from a recent Smithville bank closing (shared director/cashier) is cited as the trigger. Dates taken from the dispatches. No evidence the bank later reopened.

Events (5)

1. August 14, 1902 Chartered
Source
historical_nic
2. September 27, 1905 Receivership
Source
historical_nic
3. September 27, 1905 Receivership
Newspaper Excerpt
George T. Cutts, national bank examiner, has been appointed receiver.
Source
newspapers
4. September 27, 1905 Run
Cause
Local Banks
Cause Details
Run was started after closing of the bank at Smithville; shared director/cashier (Alcorn/Alcearn) in common triggered depositor panic.
Newspaper Excerpt
Run on Orrville Bank. ... a run was started on the First National bank at Orrville and the institution was forced to close its doors yesterday.
Source
newspapers
5. September 27, 1905 Suspension
Cause
Local Banks
Cause Details
Closed by order of the Comptroller of the Currency due to a continuous run precipitated by fallout from the Smithville bank failure.
Newspaper Excerpt
The First National Bank, Orrville, Ohio, today closed its doors by order of the controller/comptroller of the currency on account of a continuous run upon the bank.
Source
newspapers

Newspaper Articles (15)

Article from Evening Star, September 27, 1905

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Article Text

Orrville, Ohio, Bank Closed. The First National Bank, Orrville, Ohio, today closed its doors by order of the controller of the currency on account of a continuous, run upon the bank. George T. Cutts, national bank examiner, has been appointed receiver.


Article from The Minneapolis Journal, September 27, 1905

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Article Text

OHIO BANK CLOSES DOORS. Washington, Sept. 27.-The First National bank, Orrville, Ohio, today closed its doors by order of the controller of the currency, on account of a continuous run upon the bank.


Article from Santa Fe New Mexican, September 27, 1905

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Article Text

OHIO NATIONAL BANK CLOSES ITS DOORS. Washington, Sept. 27.-The First National Bank of Orrville, Ohio, closed its doors today by order of the comptroller of the currency, on account of a continuous run. George T. Cutts, national bank examiner, was appointed receiver.


Article from The Roswell Daily Record, September 27, 1905

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Article Text

National Bank Closed. Washington, D. C., Sept. 27.-The First National Bank, of Orrville, O., closed its doors today by order of the comptroller of the currency, on account of a continuous run. George T. Cutts, national bank examiner, was appointed receiver.


Article from The Topeka State Journal, September 27, 1905

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Article Text

First National of Orrville Closes. Washington, Sept. 27.-The First National bank of Orrville, Ohio, today closed its doors by order of the comptroller of the currency, on account of a run on the bank. Geo. T. Cutts, national bank examiner, has been appointed receiver.


Article from Bismarck Daily Tribune, September 28, 1905

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Article Text

CLOSED BY COMPTROLLER. I First National Bank of Orrville, O., Suspends Business. Washington, Sept. 28.-The First National bank of Orrville, O., has closed its doors by order of the comptroller of the currency on account of a continuous run upon the bank. George T. Cutts, national bank examiner, has been appointed receiver.


Article from Ottumwa Tri-Weekly Courier, September 28, 1905

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Article Text

RAPIDLY MOVING EXPRESS CAR SCENE OF DEADLY DUEL RUN CLOSES BANK. Orrville Institution is Ordered to DisMESSENGER AND FORMER EM. continue Business. PLOYE OF EXPRESS COMPANY NEAR DEATH. Washington, D. C., Sept. 27.- * The First National bank of Orrville, Ohio, today closed its doors by order of the comptroller, per* mantly, on account of a continuTHEIR STORIES DIFFER * ous run upon the bank.


Article from Alexandria Gazette, September 28, 1905

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Article Text

News of the Day. The Episcopal convention of the Diocese of New York voted against division yesterday. Bishop Potter, of New York, in his triennial charge to the clergy of his diocese, declares that climatic conditions and the manner of modern American living demand the observance of the Sabbath. The grand jury's investigation of the alleged election frauds in Richmond has been completed, and the jury now is engaged in preparing its report. It is understood that there will be no additional indictments found. The First National Bank, of Orrville, O., yesterday closed its doors by order of the Comptroller of the Currency, on account of a continuous run upon the bank. George T. Cutts, national bank examiner, has been appointed receiver. This is a small bank with a capital of $25,000. It is probable that Congressman John Sharp Williams, of Mississippi, the floor leader of the House, will make several speeches in Virginia in behalf of Congressman Swanson's candidacy. A barbecue has already been arranged for him at Salem, where he is to appear October 20. Senator-elect Isador Rayner, of Maryland, also has promised to lend a helping hand to the democrats of Virginia. A semi-official note issued in Paris Tuesday evening, after a lengthy conterence at the Foreign Office between Prince von Radolin, Premier Rouvier, Dr. Rosen, the new German Minister to Morocco, and M. Revoil, former Governor of Algiers, who has represented France in the negotiations with Dr. Rosen, states that the negotiators entirely agreed on the French point of view relative to the Moroccan situation. A dispatch from Gothenburg, Sweden, says that a severe earthquake was felt at 1:30 p. m. Tuesday at Lundby, Hisingen Island. It cracked the walls of houses and fissured the surface of the ground. Subterranean rumblings were quickly followed by the violent rocking of houses and the splitting of inner and outer walls, driving the inmates to seek safety in the open air. It many places fissures a foot wide were opened up while the level of the ground in the eastern part of the island sank appreciably. The disturbances lasted a minute. The liner Korea arrived at San Francisco yesterday from the Orient. Among her passengers were Secretary of War Taft and most of the members of a party which left with him for the far East on the Manchuria on July 8 last. In a lengthy interview Secretary Taft described the journey made by his party, outlining also its purposes. He says he and his party were warmly received wherever they stopped. They lunched with the Emperor of Japan. He spoke of the improvement of the government nila but said the political situation is not as good as it should be. The question of independence was discussed, but he says this must be postponed until another generation. The fire at Colon yesterday broke out in a building next to the residence of the Spanish Consul and soon destroyed the Phoenix Hotel, an American owned building, and two other hotels, several liquor saloons and several tenement buildings. Roweis Building, containing the postoffice, the offices of the municipality, of Governor Melendez, the port inspectors, the judiciary and other offices, together with the Treasury Building, also were burned. Nearly all the records and documents of the Government were destroyed. The burned region comprises two blocks. The American residential quarter was not touched. The sanitary authorities are erecting tents in the fire zone to shelter the homeless.


Article from The Daily Ardmoreite, September 28, 1905

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Article Text

Ohio Bank Closed. Washington, Sept: 27.-The First National Bank of Orrville, Ohio today closed its doors by order of the comptroller of the currency. A National bank examiner has been appointed recelver.


Article from The St. Louis Republic, September 28, 1905

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Article Text

OHIO NATIONAL BANK CLOSES. Orrville Institution Shut Up Because of Long Run. Washington, Sept. 27.-The First National Bank. Orrville. O., to-day closed Its doors by order of the Comptroller of the Currency. on account of a continuous run on the bank. George T. Cutta, national bank examincr. - been assointed reselver.


Article from The Norfolk Weekly News-Journal, September 29, 1905

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Article Text

Ohio Bank's Doors Closed. Washington, Sept. 28.-The First National bank of Orrville, O., closed its doors by order of the comptroller of the currency, on account of a continuous run on the bank. George T. Cutts, national bank examiner, has been appointed receiver.


Article from The Stark County Democrat, September 29, 1905

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Article Text

Run on Orrville Bank. By the closing of the bank at Smithville on Tuesday a run was started on the First National bank at Orrville and the institution was forced to close its doors yesterday. The run was probably caused by the fact that Cashier Alcearn of the Wooster bank was also a director of the defunct Smithville bank. The loss to depositors will be small.


Article from The Miller Sun, October 4, 1905

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Article Text

Closed Because of a Long Run. The First National Bank of Orrville, O., Wednesday closed its doors by order of the comptroller of the currency on account of a continuous run upon the bank.


Article from The Star, October 4, 1905

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Article Text

Run Closes Bank. Folowing the closing of the bank at Smithville, O., there was a run on the First National at Orrville, which resulted in its doors being closed. L. J. Alcorn, cashier of the local bank, was a director in the Smithville bank, and this fact caused the run. Alcorn says the bank will pay dollar for dollar.


Article from The L'anse Sentinel, October 7, 1905

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Article Text

Chatham, in the Suez canal, with ner argo of 90 tons of dynamite and blastng gelatin, was blown up by mines hull. listributed around and inside her These were fired by an electric curent from Raselech, about five miles way. No serious damage was done o the canal. Edward N. Nockels, secretary of the Chicago Federation of Labor. proposes o organize professional baseball playnojun B onto SIA Livingston Quackenbush of Le Sueur, Minn., was convicted of receiving mony into an insolvent bank. His bank ailed in March. 1904. Secretary Taft and more than 50 of he party which visited the orient have reached San Francisco. The secretary, n an interview, says the Philippines how great gains, that the Chinese beycott will fail and that Japan really that si glac of peace. He declares Filipinos are unfit for self-government, nd independence cannot be realized or a generation to come. The prosecution won first blood in he packers' conspiracy cases in that Chiago when Judge Humphrey ruled he manner in which the grand jury roccedings were conducted is legal. Norway, says Foreign Minister Loevland in an interview to the corre- to pondent of a Paris paper. plans sk the powers to recognize its indeendence at once. An employe of a sewing machine company in New York is held for a 230,000 theft. Theodore Roosevelt, Jr.. entered Harvard just 25 years after his father lid. The German press is indignant over he new Anglo-Japanese treaty. Gov Folk of Missouri has ordered he rolice board to close all bucket Louis. as up sdoq Prominent Chinese regard last Sunlay's tomb outrage as a protest against China's effort to crush the anti-Amerian boycott. Socialists and supporters of the Hun- the arian coalition parties rioted in 40 treets of Budapest and more than ersons were injured. Former Gov. Yates of Illinois will ot be a candidate for the M. United lates senatorship against Shelby A. H. fullom. Linneke has been appointed & reeiver of the business of Johnson of loan. retail drygoods merchants it Minneapolis, Minn. The liabilities, $ said. will be about $200,000. Five children were burned and ashyxiated in the fire which destroyed he home of Frederick Adamson at Fort Dodge. Ia. The confederate organizations of the Misissippi have joined in a request for eturn of two Mississippi battleflags now tored in the Colorado capitol building Denter. 1 Jacob Litt, the well-known theatrical hanager and owner of theaters in New York, Chicago, Milwaukee and St. Paul, 'A N up Wheeler H. Peckham, the noted lawer. died suddenly in his office on Broadvay, N. Y. Apoplexy is thought to have aused his death. In a rear-end collision near Glenwood. Ind., passenger train No. 41, on he C., H. & D. R. R. crashed into in- a reight train. Five persons were ured. one fatally. The First national bank. Orrville, O., losed its doors by order of the comproller of the currency. on account of a ontinuous run upon the bank. Fire at Roff. in the Chickasaw Nation. T., destroyed a business block in Main treet. Loss estimated at more than 75.000. Announcement made that Rev. Dr. Villiam Bayard Hale, of Richmond, nd., has been decorated by the king of he Belgians, being a knight of the rder of Leopold. The eighth annual convention of the National Association of Postmasters 'O Dayton. up peued The Subway tavern, the saloon which as opened in New York with prayer y Bishop Potter a year ago, has been losed. The owner locked up its had doors, aying that the temperance saloon been a paying investment.