Sessions & Company (Columbus, OH)

Episode Information

Episode UID
1728419791294
Episode Type
Suspension → Closure
Bank Type
investment
Bank ID
172841979 hash
Start Date
October 31, 1907
Location
Columbus, Ohio (39.961, -82.999)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
ec87b0d9cc1495c7

Response Measures

None

Events (1)
1. October 31, 1907 Suspension
Cause
Local Shock
Cause Details
Decline in local securities led to insolvency; assets about $25,000–$30,000 less than liabilities (≈$200,000).
Newspaper Excerpt
The banking and brokerage house of Sessions & Co., ... failed to open its doors today.
Source
newspapers

Newspaper Articles (3)
1. October 31, 1907 The Washington Times Washington, DC
Article from The Washington Times, October 31, 1907

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Article Text

OLD BANKING FIRM IN OHIO SUSPENDS COLUMBUS, Ohio, Oct. 31.-The banking and brokerage house of Sessions & Co., 14 East Long street, one of the oldest in the city, failed to open its doors today. It is estimated that the liabilities are about $200,000. and the assets about $25,000 or $30,000 less than this sum. Most of the liabilities are sums owing to customers. Loans are held by Columbus banks, but it is claimed they were well secured by collateral, Decline in local securities is assigned as the cause of the failure of the concern.

2. October 31, 1907 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, October 31, 1907

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Article Text

Bank Closes. Columbus, O., Oct. 31 -The banking and brokerage house of Sessions & Co., east Long street, one of the oldest in the city, failed to open its doors today. It is estimated that the liabilities are about $200,000 and the assets about $25,000 or $30,000 less the number. Most of the liabilities are 81008 owing to customers. Loans are held by Columbus banks, but is claimed they were well se. cured by collateral. Decline in local securities is assigned as the cause of the failure of the concern

3. November 6, 1907 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, November 6, 1907

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Article Text

OHIO COLUMBUS, O., Nov. 5.-The banking and brokerage house of Sessions & Co., one of the oldest in the city, failed to oper its doors this morning. It is estimated that the liabilities are about $200,000 and the assets about $25,000 or $30,000 less this sum. MARION.-Lesley Postal and Ira Kerr, farmers, had an exciting encounter with a wildcat while coon hunting. The dogs treed the animal after a fierce fight in which the latter fared badly. The wildcat escaped by leaping from one tree to another. BUCYRUS.-A ram owned by O. P. Beck and roted as the greatest butter in this part of Ohio, wandered to the Pennsylvania railroad tracks yesterday, and seeing the crack 18-hour train coming lowered its head and shot toward the approaching engine. Beck went to Union county to get a new ram. The flyer is reported to have arrived in New York on time. AKRON.-Joseph Dangel, president of the Dollar Savings bank, was appointed receiver of that institution in consequence of the suicide of Fred A. Boron, cashier and treasurer, last Sunday. The examination by the directors and clearing house association found a shortage of $38,000, against which stands the cashier's bond of $20,0000 and overdrafts amounting to $18,000, on which $6000 was realized yesterday.