17075. Akron Savings Bank (Akron, OH)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
savings bank
Start Date
April 5, 1904
Location
Akron, Ohio (41.081, -81.519)

Metadata

Model
gpt-5-mini
Short Digest
a41b26f4

Response Measures

None

Description

The Akron Savings Bank closed April 5, 1904, with receivers appointed after the Akron Clearing House Association compelled the bank to make clearings in cash. The bank reopened within a day or two under the receivers. No articles describe a depositor run; the action appears driven by clearing-house/correspondent pressure and insolvency concerns, with receivers quickly reopening the bank.

Events (2)

1. April 5, 1904 Suspension
Cause
Correspondent
Cause Details
Akron Clearing House Association compelled the bank to make its clearings in cash, precipitating closure and receivership.
Newspaper Excerpt
The doors of the Akron Savings Bank were closed today and the Common Pleas Court appointed G. W. Seiber and William Buchtel receivers of the institution. The action was precipitated as a result of the Akron Clearing House Association compelling the bank to make all its clearings in cash.
Source
newspapers
2. April 6, 1904 Reopening
Newspaper Excerpt
The Akron Savings bank, which closed Tuesday, reopened its doors Wednesday for business, with the receivers in charge.
Source
newspapers

Newspaper Articles (20)

Article from The Daily Telegram, April 5, 1904

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Article Text

AKRON SAVINGS BANK CLOSES. By Associated Press. Akron, Ohio, April 5-The Akron Savings Bank closed its doors to-day. G. W. Seibet and William Duchtell were appointed receivers of the bank. be clearing house demanded the bank ke its clearings in cash. This ed the suspension. The capital of institution is $200,000; surplus, $50.000: deposits, $850,000. An official statement of the bank's condition published yesterday showed resources to be $1,151,910 and the lia. bilities the same.


Article from The Daily Tribune, April 5, 1904

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TWO BANK FAILURES. Guthrie, Oklahoma, Bank Creates Great Excitement. Guthrie, Okla., April 5-The Na tional Bank Examiner Sturdevant today took charge of the Capital Na tional bank of this place as receiver. The failure of this supposed solid intitution has caused gieat excitement and general rerget. Many prominent citizens will lose heavily by the fail. ure Akron, O., April 5-The Akron Savings bank failed today. No reasou for the closing of its doors are given.


Article from Rock Island Argus, April 5, 1904

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Article Text

AKRON SAVINGS BANK IS IN HANDS OF RECEIVERS Akron, Ohio, April 5.-The doors of the Akron Savings bank were closed today and receivers appointed. The action was precipitated as a result of the Akron Clearing House association compelling the bank to make all its clearings in cash. William Buchtel is president of the bank. The capital stock is $200,000 and the surplus $50,000. The deposits are $850,000.


Article from Deseret Evening News, April 5, 1904

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Article Text

Akron, O., Bank Fails. Akron, April 5.-The Akron Savings bank closed its doors today. The common pleas court appointed G. W. Seiber and Wm. Buchtel receivers of the institution. The action was precipitated as a result of the Akron Clearing House association compelling the bank to make all its clearings in cash. Wm. Buchtel is president of the bank. It has a capital stock of $200,000 and deposits amounting to about $850,000.


Article from Evening Star, April 5, 1904

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Article Text

Akron Savings Bank Closes Doors. AKRON, Ohio, April 5.-The doors of the Akron Savings Bank were closed today and the common pleas court appointed G. W. Serber and Wm. Buchtel receivers of the institution. The action was precipitated as a result of the Akron Clearing House Association compelling the bank to make all its clearings in cash. Wm. Buchtel is president of the bank. It has a capital stock of $200,000; surplus, $50,000, and deposits amounting to about $850,000.


Article from New-York Tribune, April 6, 1904

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Article Text

AKRON (OHIO) SAVINGS BANK FAILS. Akron. Ohio, April 6-The doors of the Akron Savings Bank were closed to-day and the Common Pleas Court appointed C. W. Seiber and William Buchtel receivers of the institution. The action was precipitated as a result of the Akron Clearing House Association compelling the bank to make all its clearings in cash. William Buchtel is president of the bank. It has a capital stock of $200,000; surplus, $50,000, and deposits amounting to about $850,000. An official statement of the bank's condition published yesterday showed its resources to be $1,151,910, with liabilities the same.


Article from The San Francisco Call, April 6, 1904

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Article Text

TWO BANKS ARE FORCED TO CLOSE THEIR DOORS Institutions at Akron, Ohio, and McLeod, Okla., in the Hands of Receivers. AKRON, Ohio, April 5.-The Akron Savings Bank closed its doors to-day. The Common Pleas Court appointed G. W. Seiber and William Buchtel receivers of the institution. The action was precipitated as a result of the Akron Clearing-house Association compelling the bank to make all its clearings in cash. William Buchtel is president of the bank. It has a capital stock of $200.000 and deposits amounting to about $850,000. An official statement of the bank's condition, published yesterday, showed its resources to be $1,151,000. with liabilities the same. GUTHRIE, Okla., April 5.-The Citizens' Bank at McLeod, Okla., with a capital of $10,000. closed its doors today as a result of the failure of the Capitol National. M. R. Sturtevant, National Bank Examiner, reached here to-day and took charge of the Capitol National. He instructed the officers of the bank not to talk of its affairs and declines to make a statement until a thorough examination of the institution's books has been made. Other local banks are considering a plan to assume the defunct bank's obligations.


Article from Bismarck Daily Tribune, April 6, 1904

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Article Text

BANK SUSPENDS. AKRON (o.) Institution Had Deposits of About $850,000. Akron, O., April 6.-The doors of the Akron Savings bank were closed during the day and the common pleas court appointed G. W. Zeiber and William Buchtel receivers of the institution. The action was precipitated as a result of the Akron Clearinghouse association compelling the bank to make all its clearings in cash. William Buchtel is president of the bank. It has a capital stock of $200,000; surplus $50,000 and deposits amounting to about $850.000. An official statement of the bank's condition shows its resources to be $1,151,910, with liabilities the same.


Article from The Salt Lake Herald, April 6, 1904

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Article Text

TWO INSOLVENT BANKS One of Them Located at Akron, 0., and the Other at McLoud, Ala. Akron, April 5.-The Akron Savings bank closed its doors today. The common pleas court appointed G. W. Seiber and William Buchtel receivers of the institution. The action was precipitated as a result of the Akron clearing house association compelling the bank to make all its clearings in cash. William Buchtel is president of the bank. It has a capital stock of $200.000 and deposits amounting to about $850,000. An official statement of the bank's condition published yesterday, showed its resources to be $1,151,000 with liabilities about the same. Guthrie, O. T., April -The Citizens' bank at McLoud, Oklahoma, with a capital of $10,000, closed its doors today as a result of the failure of the Capitol National bank. M. R. Sturtevant, national bank examiner, reached here today and took charge of the Capitol National. He instructed the officers of the bank not to talk of its affairs and declines to make a statement until a thorough examination of the institution's books has been made. Other local banks are considering a plan to assume the defunct bank's obligations.


Article from The Savannah Morning News, April 6, 1904

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Article Text

Akron Bank Olosed. Akron, O., April 5.-The doors of the Akron Savings Bank were closed today, and the Common Pleas Court appointed G. W. Seiber and William Buchtel receivers of the institution. The action was precipitated as a result of the Akron Clearing House Association compelling the bank to make all its clearings in cash. William Buchtel is president of the bank. It has a capital stock of $200,000; surplus $50,000, and deposits amounting to about $850,000.


Article from The Plymouth Tribune, April 7, 1904

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Article Text

NEWS FACTS IN OUTLINE -Bubonic has reappeared at Antofagasta, a seaport and the capital of the province of Antofagasta, Chile. The doors of the Akron, O., Savings bank have been closed and G. W. Serber and William Buchtel appointed receivers. Mrs. Gertrude Morris and Mrs. Ellen Jean, both colored, have been awarded $100 each by a Chicago jury because they were refused admission to the Columbus theater. Two San Francisco lawyers have been awarded $150,000 fees for their services in settling the Charles L. Fair estate. Louise Michel, the anarchist speaker and writer, is dying at Paris. A voting machine was used yesterday for the first time in a Chicago election. William J. Bryan is on his farm near Lincoln, Neb., doing his spring planting. The humanitarians of St. Louis refuse to let the Igorrotes eat dogs' meat on the ground that it is "cruel and inhuman." Governor Pennypacker has declined to run for justice of the supreme court of Pennsylvania, and the Republicans will nominate John P. Elkin, ex-state attorney general. A national missionary conference of leading dignitaries, to the number of about fifty, will begin at Washing ton tonight. Emily Phillips Cassat has been granted an absolute divorce from Captain Edward Buchanan Cassatt, son of the president of the Pennsylvania railroad.


Article from Rock Island Argus, April 7, 1904

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Bank Reopens for Business. Akron, O., April 7.-The Akron Savings bank, which closed Tuesday, has reopened its doors for business, with the receivers,


Article from The Waxahachie Daily Light, April 7, 1904

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Depositors Safe. Akron, O., April .-The Akron Savings bank, which closed Tuesday, reopened its doors Wednesday for business, with receivers in charge. Suits to enforce stockholders' liability law have been filed, and as a majority of the stockholders are people of wealth It is certain that depositors will not lose a ce. L


Article from The Daily Morning Journal and Courier, April 7, 1904

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Akron Bank Opens Again. Akron. O., April 6.-The Akron Savings bank, which closed yesterday and opened its doors to-day for business with the receivers, William Buchtel and G. W. Sieber in charge. It is practically certain that their depositors will not lose a cent.


Article from The Indianapolis Journal, April 7, 1904

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Savings Bank Reopens. AKRON, O., April 6.-The' Akron Savings Bank, which closed yesterday, reopened its doors to-day for business, with the receivers, William Buchtel and G. W. Sieber, in charge. While the officials of the bank have not issued a formal statement, it is believed that the depositors will be paid in full.


Article from The Stark County Democrat, April 8, 1904

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The Akron Savings bank which went by the boards has opened its doors for business under the direction of the receivers who were appointed by the court. It is said the bank had a good volume of business, but there was poor management and neglect.


Article from The Forrest City Times, April 8, 1904

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BANK'S DOORS ARE CLOSED. The Akron (0.) vings Bank Closed and Receivers Appointed by Common Pleas Court. | Akron, O., April 6.-The doors of the Akron savings bank were closed, Tuesday, and the common pleas court appointed G. W. Seiber and Wm. Buchtel receivers of the institution. The action was precipitated as a result of the Akron clearing house association compelling the bank to make all its clearings in cash. William Buchtel is president of the bank. It has a capital stock of $200,000. Surplus $50,000 and deposits amounting to about $850,000.


Article from The Labor World, April 9, 1904

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BANK RE-OPENS AKRON, Ohio, April 6.-The Akron Savings bank which closed yesterday re-opened its doors today for business with the receivers in charge. It is believed that the depositors will be paid in full.


Article from Wausau Pilot, April 12, 1904

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Akron Savings Bank Fails. The doors of the Akron, Ohio, Savings Bank were closed Tuesday and the Common Pleas Court appointed G. W. Seiber and William Buchtel receivers of the institution. The action was precipitated as a result of the Akron Clearing House Association compelling the bank to make all its clearings in cash.


Article from The Ely Miner, April 15, 1904

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DOMESTIC. Six suicides were reported in one day in New York city, most of the victims being out of work. The brokerage firm of W. B. Mack & Co. has suspended in New York, being the sixth of J. P. Morgan's former employes to meet with reverses after going into business independently. An expert's report declares ten western railroads lost $1,250,000 in 1903 through payment of excessive switching charges to industrial railroads. A woman of social prominence is suspected in connection with the murder of Miss Mabel Page in a suburb of Boston. The Citizens' bank at McLeod, Okla., with a capital of $10,000, closed its doors. Judge James C. Jenkins, of Atlanta, Ga., has been appointed a judge at large of the court of first instance of the Philippine islands. The battleship Virginia was launched at Newport News. It is the largest fighting craft in the United States navy now afloat. Five persons were drowned in the Gulf of Mexico near Sutherland, Fla., as a result of a boat from a Methodist college capsizing. Judge Sale, of St. Louis, granted a woman a divorce, saying that the only charge she need prove was that her husband slapped her face. The Akron (0.) Savings bank, with deposits of $850,000, closed its doors and receivers were appointed. Clark Ridley, an aged miner of New Bedford, Mass., after saving $15,000 in 85 years, is giving it away, hoping to die poor. The arrest of women wearing red skirts has been ordered by Pennsylvania railroad officials if they appear on railroad grounds. The Chicago Business Woman's club has gone into bankruptcy, its debts amounting to $12,000. United States warships will protect the property of the Panama railroad during the strike on the isthmus, according to the decision at a cabinet meeting. At St. Louis United States Senator J. R. Burton, of Kansas, was sentenced to six months' imprisonment in the Iron county jail, Missouri, and fined $2,500 for having been convicted of using his influence before the post office department in behalf of the Rialto Grain & Securities company, of St. Louis, and having received payment from the company for his services.