Lamborn & Gray - Alliance, OH

Bank Information

Episode Type: Suspension → Closure
Bank Type: private
Start Date: September 8, 1887
Location: Alliance, Ohio (40.915, -81.106)

Metadata

Model: gpt-5-mini
Short Digest: 28bb277d

Response Measures

None

Description

Creditors filed a petition and the court appointed a receiver who seized the bank's assets and safes; article describes alleged fraud and receiver Early being appointed — indicates closure/receivership rather than a depositor run. Date taken from newspaper publication (1887-09-08).

Events (2)

1. September 8, 1887 Receivership

Newspaper Excerpt: After the argument counsel appointed Judge Raley ... to take receiver, and directed charge of all the property mentioned ... Early proceeded to Alliance ... rolled out two safes and carried off the books ... opened safes and found about $1,700 in gold watches, gold jewelry, several papers ... were found in the safes . . . they proceeded to the stable and hitched up a good turnout and made off entire find . . . the end is not yet . . . . (The Stark County Democrat, 1887-09-08).
Source: newspapers

2. September 8, 1887 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Creditors alleged fraudulent transfers of assets and that the bank was part of a conspiracy to defraud creditors; petition led to court action and appointment of a receiver.
Newspaper Excerpt: creditors of Lamborn & Gray, the bankers of Alliance, ... filed a petition ... ask[ing] the appointment of a receiver ... After the hearing Judge Raley appointed Mathew Early the receiver, and directed him to take charge of all the property mentioned
Source: newspapers

Newspaper Articles (1)

1. September 8, 1887 The Stark County Democrat Canton, OH

Article from The Stark County Democrat, September 8, 1887

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Article Text

IT WEARY. The Creditors of Lamborn & GrayTire of Monkey Business. credttors of Lamborn & Gray, the bankers of Alliance, be tired of seeing money defunct come The very their of have assigin the hands allege, are nees, from a who, distance they in collusion to dewith Lamborn in a conspiracy fraud them. Uriah Thomas, a creditor to the extent of $16,000, Jonathan Mey ers, William H. Oyer and Mary A. Detcheon, all creditors, filed a petition asking of a which they was over to the the tain appointment property Receiver assignees. allege for cer- The in this action never plaintiffs turned charge that that they the deal is rotten to the core, and are the victims of a high handed conspiracy to cheat and defraud them. allege & made a "pretended Their Gray pleadings William that assignment Lamborn Stallcup, to Miller and of of their property on Emery a part that said the 24th preDecember, 1883; was day tended of assignment made of defraud- for the and with the intent ing, hindering the and other purpose cheating, plaintiffs and creditors delaying in the collection of just claims. They also claim that Levi L. Lamborn has transferred valuable real his his wife and fraudulently estate to BOLS, to and Hugh without consideration for of fraud. thousands transferred the Blakely, purpose many That of he dollars also contracts, bonds and to Levi also safes, a mortgages worth of notes, payable valuable library, L. Lambora; horses and carriages and other items of personal property. They also claim that he has in his possession large same of money. The pleadings innumerate among the items of personal property thus fraudulently transfermortgage against $1,600 red, Coates & for which the A. credi- ought W. to been turned over to tors; Mrs. Lamborn have that has collecting possession of and is the and a of other notes number interest said mortgage thereon, claims and other to own property which in reality are the property of L. L. Lamborn, and which were without consideration. of the transferred Since the date assignment his elegant he has record a deed for valued to private placed on residence, at that $20,000 he his wife. They also claim purchased a house in the name of his son, Leroy, which he paid for out of money that belonged to his creditors; that he purchased the old bank building for his creditors money, and put it that he in wife her with name; transferred his with- his valuable green houses to son and the he out assignment consideration; transferred that since to Hugh Blakely about 100 town lots in Alliance worth $25,000, without consideration and for the purpose of fraud; that the assignees, Stallcup and Miller, have all still have knowledge of these transactions. to act fraudulent are along powerless and and They ask the say court they to appoint a receiver for the property described in the pleadings. The forgoing is about the substance of the claims of the creditors. After the argument counsel appointed Judge hearing Raley of Mathew him the to Early take receiver, and directed charge of all the property mentioned, including the Leroy Lamborn house, the Blakely lots, the greenhouses, horses and carriages, the private residence, the bank building, library, safes, ect., and to collect the rents, intereat and profits. Early was required to give bond in the sum of $25.000, which was furnished. Armed with this order of the Court, Early proceeded to Alliance with three who were at two more Alliance Canton policemen, by officers, against when joi: ed the the whole regiment moved Lamborn fortress. Mrs. Lamborn ad mitted them to the house, when they proceeded to the library and rolled out two safes and carried off the books. They then proceeded to the stable and hitched up a good turnout and made off entire find. The safes were to the old bank sledge and with conveyed the with jimmy. building About and and paper money. valuable opened $1,700 in gold watches, gold jewelry, several and papers, the value of which was not made known, were found in the safes. Whatever else may be said of Doc Lamborn, nobody ever accused him of being a fool, and the end is not yet.