Multiple contemporaneous articles (early July 1930) report a heavy run on the Sabina Bank which prompted officers to turn the institution over to the State Banking Department; an examiner was placed in charge and the bank was placed in liquidation. Later articles describe efforts to reorganize/reopen, but liquidation proceeded with claims being filed and assets inventoried, and there is no clear evidence the bank successfully reopened — thus classified as run → suspension → closure.
Events (5)
1.June 30, 1930Run
Cause
Rumor Or Misinformation
Cause Details
Heavy withdrawals triggered by a rumor about the bank's condition; articles also note influence from closing of two other banks nearby.
Measures
Officers requested the State Banking Department take over to avert further depletion of quick assets.
Newspaper Excerpt
failed to open its doors Tuesday morning, following a heavy run made on it by depositors Monday.
Source
newspapers
2.July 1, 1930Suspension
Cause
Government Action
Cause Details
Officers turned the bank over to the State Banking Department and an examiner was placed in charge to liquidate/avert continued withdrawals.
Newspaper Excerpt
The Sabina bank ... was placed in the hands of the state banking department today as the result of a run. Eugene King, state bank examiner, was placed in charge.
Source
newspapers
3.July 10, 1930Receivership
Newspaper Excerpt
D. Schurr has been appointed Assistant State Superintendent of Banks to assist in the liquidation of the Sabina Bank. ... is preparing assets of the bank for liquidation. He will make announcements for the date of filing claims few days.
Source
newspapers
4.August 2, 1930Other
Newspaper Excerpt
Pass-books are now being accepted at the Sabina Bank as evidence of claim against the bank, which closed recently after a heavy run on deposits. D. J. Schurr ... is preparing an inventory which will be filed in Common Pleas Court soon.
Source
newspapers
5.August 15, 1930Other
Newspaper Excerpt
Officers of the Sabina Bank ... are making an effort to re-organize the bank and have succeeded in securing pledges for two-thirds of the necessary stock, to reopen the institution. The assets of the bank are figured to be sufficient to cover its liabilities ... but if the bank is forced to liquidate, the loss ... may require months before liquidation is completed.
Source
newspapers
Newspaper Articles (15)
1.July 1, 1930The Piqua Daily CallPiqua, OH
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Article Text
SABINA BANK IS ORDERED CLOSED
State Banking DepartTakes Action After Reported Run.
Columbus, O., July 1, (U.P)-The Sabina bank of Sabina, Olinton county, was placed in the hands of the state banking department today as the result of a run. Eugene King, state bank examiner, was placed in charge. Officers of the bank asked the dopartment to take over the Institution when the run threatened to deplete its resources. The bank was capitalized at $50.noo. had surplus of $2000 and combined assets of $350.000 Officers are L. E. Whinery, presiand cashier,
2.July 1, 1930The Dayton HeraldDayton, OH
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Article Text
STATE BANK AT SABINA CLOSED TO AVERT 'RUN'
Examiner Placed in Charge When Officers of Institution Become Alarmed.
COLUMBUS, O., July 1.-(UP)The Sabina bank of Sabina, Clinton county, was placed in the hands of the state banking department today as the result of run. Eugene King. state bank examwas placed in charge. Officers of the bank asked the department to take over the institution when the run threatened to deplete its resources. The bank was capitalized at $50.000, had surplus of $2,000 and combined assets of $350,000. Officers are L. Whinery, president. and W. B. Gallagher, cashier.
3.July 1, 1930The Piqua Daily CallPiqua, OH
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Article Text
SABINA BANK IS ORDERED CLOSED
State Banking DepartTakes Action After Reported Run.
Columbus, O., July 1, (U.P)-The Sabina bank of Sabina, Olinton county, was placed in the hands of the state banking department today as the result of a run. Eugene King, state bank examiner, was placed in charge. Officers of the bank asked the dopartment to take over the Institution when the run threatened to deplete its resources. The bank was capitalized at $50.noo. had surplus of $2000 and combined assets of $350.000 Officers are L. E. Whinery, presiand cashier,
4.July 1, 1930News JournalWilmington, OH
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Article Text
SABINA BANK CLOSES DOORS tate Banking Department Takes Charge After Heavy Run Monday
The Sabina Bank, a State bank. failed to open its doors Tuesday morning, following a heavy run made on It by depositors Monday. Officers of the bank stated that rather than face continuance of the run Tuesday, which would mean depleting the available quick assets of the institution, they decided to turn the bank over to the State Banking Department for 11. quidation. In doing 60, President E. Whinery stated he believed the in terests of the depositors would be was impossible now to state wheth er the depositors would be aid in full, this being matter of mether assets of the bank could Ised upon without being closed out at forced sale. Efforts were being mad Mr. Whinery stated, to reorgal the institution and special me ting of directors was called for nur pose Monday night. Following heavy run, the directors decided to abandon the resrganization plan and close the bank, turning the institution over to the State Banking The last statement of the bank published March 27, 1930, shows resources of $346,000, with capital stock of $50,000 and surplus of $25,000. Deposits totaled L. E. Whinery is President/of the institution, R. W. Allen Vice President, and R. W. Cline, Cashier. The officers together with William Pavey constitute the Board of Directors. W. D. Gallaher, Cashier and a member of the Board of DIrectors, died several months ago but no one was selected to fill the vacancy, Mr. Whinery stated. Very little effect of the run on the closed bank was being feit by the First National Bank, of Sabina, Tuesday. The First National Is known as strong, well managed institution.
5.July 1, 1930News JournalWilmington, OH
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Article Text
CAMPBELL ADVOCATES REPEAL 19TH AMENDMENT
NEW YORK, July 1--(P)-Major Maurice Campbell, until today Prohibition Administrator or New York. advocates the repeal of the 18th amendment. He resigned when ordered to Boston to take charge of alcohol permits under the Treasury Department in the reorganization of the prohibition forces which transferred enforçement to the Department of Justice.
Sabina Bank, at Sabina, closed its doors today because of heavy withdrawals, O. C. Gray, State Superintendent of Banks, announced. Mr. Gray appointed E. G. King, State Bank Examiner, to take charge of the institution. An immediate check of the financial condition of the bank will be made, he said.
The bank had capital of $50,000. KING TO TAKE CHARGE surplus of $25,000 and total reported resources $350,000.
6.July 1, 1930The Urbana Daily CitizenUrbana, OH
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Article Text
State Takes Sabina Bank Sabina Bank Sabina, Clinton county, State Department today the placed in the hands of the Banking state bank examiner, was placed in result of run. Eugene King, charge.
Hold Lingle Murder Suspect suspect murder of Alfred LinLOS the Tribune was believed under arrest here today, Chicago reporter, divulge his name. young woman, said although police refused wife of Frank Foster, to whom the Lingle murder weapon the traced, also held.
7.July 1, 1930Troy Daily NewsTroy, OH
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Article Text
STATE TAKES CONTROL OF BANK AS RESULT OF RUN
COLUMBUS, July -(United Press)- The Sabina bank of Sabina, Clinton county, was placed in the hands of the state banking department today as the result of a run. Eugene King, state bank examiner, was placed in charge. Officers of the bank asked the department to take over the institution when the run threatened to deplete its resources. The bank was capitalized at $50,000, had surplus of $2,000 and combined assets of $350,000. Officers are L. E. Whinery, president, and W. B. Gallagher, cashier.
H. & F. Henne's sale of jewelry, silverware, clocks, watches and everything in gift shop now on. 30138
If you lose your advertise. Remember, there are still honest people.
8.July 2, 1930The Daily IndependentMaysville, KY
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Article Text
Sabina Bank Closes Doors
Wilmington, Ohio, July 1.-The Sabina Bank, at Sabina, near here, failed to open its doors this morning after a heavy run Monday afternoon. A special meeting of the Board of Directors was called last night, and that body, fearing another run this morning, voted to close the bank and turn it over to the State Banking Department. Efforts were being made to reorganize the institution, which was founded in 1875. This started a rumor the condition of the bank was bad and caused the run, L. E. Whinery, president of the bank, stated. Part of the run was also blamed on closing of two banks ton C. statement of March 27 showed the bank had resources of $364,000, capital stock of $50,000 and a surplus of 2,000. Deposits totaled $262,000. Whinery is president, R. W. Allen vice president and R. W. Cline cashier of the institution.
9.July 3, 1930Miami UnionTroy, OH
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Article Text
STATE TAKES CONTROL OF BANK RESULT
COLUMBUS July Sabina bank Clinton placed in hands state banking ment today the result Eugene state placed charge. Officers the bank asked the take over the institution when threatened deplete its The bank was at had surplus $2,000 combined assets Officers are Gallagher,
10.July 10, 1930News JournalWilmington, OH
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Article Text
STATE IN CHARGE OF SABINA BANK
D.J. Schurr Takes Control Of Village Institution
D. Schurr has been appointed Assistant State Superintendent of Banks to assist in the liquidation of the Sabina Bank. which closed Tuesday, July 1, after heavy run on Monday, June Mr. Schurr took charge of the in stitution Wednesday and is prepar. ing assets of the bank for liquidation. He will make announcements for the date of filing claims few days.
BAND CONCERT The regular weekly band concert will given in Sabina, Thursday night, by the Sabina school band
BUDGET HEARING Public hearing on the budget of the Richland Township Trustees will be held Monday, July 21, at P. M.
11.August 2, 1930News JournalWilmington, OH
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Article Text
CLAIMS ACCEPTED AT SABINA BANK
Percent Of Reimbursement To Be Made Known Soon
Pass-books are now being accept. ed at the Sabina Bank as evidence of claim against the bank, which closed recently after a heavy run on deposits. D. J. Schurr, Assistant State Superintendent of Banks, in charge of liquidation of the institution, is preparing an inventory which will be filed in Common Pleas Court soon. The percentage of reimbursement to depositors has not been estimated.
12.August 5, 1930The Newark AdvocateNewark, OH
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Article Text
Will File Inventory. Aug. inventory the defunct Sabina bank, closed heavy will Clinton court within Schurr, assistant state superintendent banks, announced today.
13.August 15, 1930News JournalWilmington, OH
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Article Text
STOCK PLEDGES ARE OBTAINED TO OPEN BANK
Two-Thirds Of Required Sum Secured By Officials Of Sabina Institution
Officers of the Sabina Bank, which closed several weeks ago at ter a heavy run, are making an effort to re-organize the bank and have succeeded in securing pledges for two-thirds of the necessary stock, to reopen the institution. The assets of the bank are figured to be sufficient to cover its liabilities, but if the bank is forced to liquidate, the loss in the liquidation process is placed at 25 per cent., and may require months before liquidation is completed. The stockholders of the bank have agreed to surrender all old stock to liquidate bad paper. The officers are putting forth every of fort to secure the necessary amount of stock and reopen the bank.
14.September 8, 1930News JournalWilmington, OH
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Article Text
BANK DEPOSITORS MUST FILE CLAIMS
Depositors of the Sabina have been notified file claims against the Institution September 15. The in process of tion, closing after heavy run eral weeks
DIIES FROM INJURIES
Floyd McKinley, Mt. Joy, here today of injuries received when he was crushed between automobile and He had been riding on the fender of the sion law for Ohio, which I augurated the years
15.October 13, 1930News JournalWilmington, OH
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Article Text
SABINA BANK MAY BE OPENED SOON
The Sabina Bank, which closed its doors several weeks ago after a heavy run by depositors, probably will re-open within the next few days, officials of the institution. stated Monday. Conditions for opening of the bank look favorable. the officials stated. The required amount of stock to re-open the institution has not been subscribed, but It is be lieved the amount will be obtained within the next few days.
CHANEY RECOVERING Charles Chaney is reported recovering at Hale Hospital from an operation for appendicitie to which he submitted last Saturday.
