17337. Cuyahoga Savings Bank (Cleveland, OH)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
May 6, 1901
Location
Cleveland, Ohio (41.499, -81.695)

Metadata

Model
gpt-5-mini
Short Digest
de9be33b

Response Measures

Full suspension, Books examined

Other: Receiver was appointed and books placed in receiver's hands; president disappeared and later apparently committed suicide.

Description

Bank suspended payments May 6–7, 1901 after the treasurer/president R. N. Pollock disappeared; depositors gathered (a run). Reporting indicates unwisely invested/endorsed paper and subsequent appointment of a receiver (Pollock later reported dead), so suspension led to receivership/closure.

Events (3)
1. May 6, 1901 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Directors suspended payments citing continued absence of treasurer/president and need to examine affairs; reports of unwisely invested funds and endorsements of failing companies' paper (United States Carbon Co.).
Newspaper Excerpt
On account of the continued absence of R. N. Pollock, the treasurer, the directors have concluded to suspend payment until such time as they can make an examination of their affairs.
Source
newspapers
2. May 7, 1901 Run
Cause
Bank Specific Adverse Info
Cause Details
Depositors agitated after notice of suspended payments caused by absence of treasurer/president and reports of unwisely invested/endorsed paper and heavy losses.
Measures
Directors posted notice suspending payment to examine affairs; no special liquidity measures reported.
Newspaper Excerpt
Hundreds of depositors, mostly working people, gathered around the bank soon after the notice was displayed, clamoring for their money.
Source
newspapers
3. May 8, 1901 Receivership
Newspaper Excerpt
Its books being in the hands of the receiver, who is making an examination and whose report is expected in a day or two.
Source
newspapers

Newspaper Articles (11)
1. May 6, 1901 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, May 6, 1901

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Article Text

Cuyahoga Savings Bank Closes. Cleveland, Ohio, May 6.-The doors of the Cuyahoga Savings bank were not opened for business today, The following notice was posted on the window: "On account of the continued absence of R. N. Pollock, the treasurer. the directors have concluded to suspend payment until such time as they can make an examination of their affairs. It is confidently expected that every depositor will be paid in full." The last statement published by the bank indicated that the individual deposits amounted to $314,966; loans on real estate, discounts, etc., $332,061.

2. May 8, 1901 Adams County News Ritzville, WA
Article from Adams County News, May 8, 1901

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Article Text

Savings Bank Failed. Cleveland, Ohio, May 7.-The doors of the Cuyahoga Savings bank were not opened for business Monday. The following notice was posted on the window: "On account of the continued absence of R. N. Pollock, the treasurer, the directors have concluded to suspend payment until such a time as they can make an examination of their affairs. It is confidently expected that every depositor will be paid in full." Hundreds of depositors, mostly working people, gathered around the bank soon after the notice was displayed, clamoring for their money. The last statement published by the bank indicated that the individual deposits amounted to $314,966; loans on real estate, discounts, etc., $332.061.

3. May 8, 1901 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, May 8, 1901

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Article Text

NO TRACE CF POLLOCK. Whereabouts of President of Closed Cleveland Bank Unknown. Cleveland, 0., May 7.-The where* abouts of President Pollock of the Cuyahoga Savings bank is as much a mystery as yesterday. He was reported to have been seen in several different cities among them New York Secretary Hale says that his exami-, nation of the books will begin in a few days He refuses to make, any statement of the bank's condition, The bank's trouble is said to be due to unwiso investments. It is said that President Pollock had indorsed some of the paper of the United States Carbon company, which had gone into the hands of a receiver. At is also. said that Pre ident Pollock was interested in two concerns which were quite heavily indebred to the ba ok.

4. May 9, 1901 The Hope Pioneer Hope, ND
Article from The Hope Pioneer, May 9, 1901

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Article Text

THE NEWS IN BRIEF. For the Week Ending May S. California has a Chinese population of 35,000. Fire destroyed 33 buildings in the village of Gridley, Ia. Mariano Ignacio Prado, ex-president of Peru, died in Paris. Twelve persons were injured in a trolley collision at Akron, O. The cup defender Constitution was launched at Bristol. R. I. Jackson Harris (colored), aged 100 years, died at Terre Haute, Ind. The village of Kendall, N. Y., was almost completely destroyed by fire. Fire swept away 22 business houses and their contents at Lufkin, Tex. Hickman Rich and wife were instantly killed by a train at Sullivan, Ind. A formal offer has been made to sell the Panama canal to the United States. Saloons in Kansas City, Mo., were closed tight Sunday, the first time in six years. Ex-Empress Eugenie has presented Prince Louis Napoleon's cradle to Paris. Ohio republicans will hold their state convention in Columbus June 24 and 25. Judge J. J. Healy, of Aberdeen, S. D., was struck by lightning and instantly killed. The Minnesota prison board has recommended the parole of the Younger brothers. John C. Wallace, a wealthy farmer at Warren, N. Y., killed his wife and hired man. Fire at Ewart, Ia., practically destroyed the entire town, including a big grain ele* vator. Raphael Straus, the well-known artist, died at his home in Cincinnati, aged 72 years. Reports show that the winter and spring wheat crops of the country are in fine condition. The total catch of seals during the season just closed was 350,000, valued at $600,000. Five men were fatally injured by an explosion of powder in a mine at Wilkesbarre, Pa. The Cuyahoga savings bank at Cleveland, O., suspended business with deposits of $314,946. J. H. Halperin, aged 20, and his young wife killed themselves in Chicago by inhaling gas. Policemen Sheehan and Mosher were found guilty in Chicago of robbing Hugh McDougall. The annual encampment of the department of the Ohio G. A. R. convened at Bellefontaine. The annual report of the Michigan Central railroad shows an increase of $1,226,000 in earnings. Manuel Mess, a constable at Hebronville, Tex., killed his wife and himself. Jealousy was the cause. In a hotel fire in Montreal, Can., Octave Lussier and his wife and Mrs. Brunelle lost their lives. The Standard Oil company has secured control of the Mexican Central and will reorganize the road. Thomas Ledden, one of the oldest captains of the lakes, is dead in Chicago, at the age of GO years. Ann M. Rathbun was sentenced to life imprisonment at New Haven, Conn., for murdering her husband. The Illinois legislature, after passing senatorial and congressional apportionment bills, adjourned sine die. Rev. Henry Scadding. D. D., celebrated Canadian historian and antiquarian, died at Toronto, aged 88 years. Former President Grover Cleveland made $400,000 by the skyrocket flight of Northern Pacific stock in New York. Four Winnebago Indians who served in the civil war applied for membership in a G. A. R. post at Sioux City. The tug Tecumseh foundered off Gore Bay, Ont., and Capt. John Wylie and two other persons were drowned. In a fit of insanity Mrs. Freeman Randle killed her two-year-old daughter and herself near Edwardsville, III. Jesse R. King shot his wife of two months and killed himself near Millheim, Pa. Jealousy was the cause. Industrial interests of Cuba urge annexation to the United States, fearing disaster if they lose American markets. Six men and a woman in Macon county, Mo., were charged with swindling fire insurance companies out of $40,000. The Illinois Central railroad raised the pay of its 8,000 employes in the machinery

5. May 9, 1901 The Lewiston Teller Lewiston, ID
Article from The Lewiston Teller, May 9, 1901

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Article Text

Savings Bank Failed. Cleveland, Ohio, May 7.-The doors of the Cuyahoga Savings bank were not opened for business Monday. The following notice was posted on the window: "On account of the continued absence of R. N. Pollock, the treasurer, the directors have concluded to suspend payment until such a time as they can make an examination of their affairs. It is confidently expected that every depositor will be paid in full." Hundreds of depositors, mostly working people, gathered around the bank soon after the notice was displayed, clamoring for their money. The last statement published by the bank indicated that the individual deposits amounted to $314,966; loans on real estate, discounts, etc., $332.061.

6. May 9, 1901 The St. Louis Republic Saint Louis, MO
Article from The St. Louis Republic, May 9, 1901

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Article Text

BANK PRESIDENT'S SUICIDE. Stranger Found Dead in Seattle Believed to Be R. N. Pollock. Seattle, Wash., May 8.-A man believed to be R. N. Pollock, the missing bank president from Cleveland, O., ended his life here to-day in the Hotel York by sending a bullet through his brain. A razor, a two-ounce box of rough on rate and a pnial containing 100 tablets of aconite were found at hand. The man supposed to be Pollock arrived here Monday and registered as James Fisher. He failed to appear during the next day and his room was finally broken into. Lying in a reclining position was found the body. and the name of R. N. Pollock was found sewed on the inside of his coat, placed there by a Cleveland, O., tailor. Pollock appeared well dressed; had $30 in money in his pocket. He appeared to have been 30 years of age, with a light complexion, and wearing a small brown mustache. LEFT CLEVELAND TEN DAYS AGO. Cleveland, O., May 8.-R. N. Pollock, who is reported to have killed himself in Seattle to-day. was president of the Cuyahoga Savings Bank of this city. He was 38 years of age, married, and had three children. He was the promoter of the bank. which closed its doors last Monday. Pollock disappeared ten days ago, and had not been definitely placed until news of his reported selfdestruction reached this city this evening. The condition of the bank is as yet a matter of conjecture, its books being in the hands of the receiver, who is making an examination and whose report is expected in a day or two. The bank had deposits to the extent of $340,000. This sum of money was not in the bank's possession at the time of the suspension. It is believed that. knowing that a crisis was near. Pollock sought safety in flight. Pollock is said to have been the backer, with the bank's money of one or more industrial concerns, which were not successful.

7. May 10, 1901 Kootenai County Republican Sandpoint, Rathdrum, ID
Article from Kootenai County Republican, May 10, 1901

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Article Text

Savings Bank Failed Cleveland, Ohio, May 7.-The doors of the Cuyahoga Savings bank were not opened for business Monday. The following notice was posted on the window: "On account of the continued absence of R. N. Pollock, the treasurer. the directors have concluded to suspend payment until such a time as they can make an examination of their affairs. It is confidently expected that every depositor will be paid in full." Hundreds of depositors, mostly working people, gathered around the bank soon after the notice was displayed, clamoring for their money. The last statement published by the bank indicated that the individual deposits amounted to $314,966; loans on real estate, discounts, etc., $332.061.

8. May 10, 1901 The Kootenai Herald Bonners Ferry, Kootenai, ID
Article from The Kootenai Herald, May 10, 1901

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Article Text

Savings Bank Failed. Cleveland, Ohio, May 7.-The doors of the Cuyahoga Savings bank were not opened for business Monday. The following notice was posted on the window: "On account of the continued absence of R. N. Pollock, the treasurer, the directors have concluded to suspend payment until such a time as they can make an examination of their affairs. It is confidently expected that every depositor will be paid in full." Hundreds of depositors, mostly working people, gathered around the bank soon after the notice was displayed, clamoring for their money. The last statement published by the bank indicated that the individual deposits amounted to $314,966; loans on real estate, discounts, etc., $332.061.

9. May 10, 1901 The Nezperce Herald Nezperce, ID
Article from The Nezperce Herald, May 10, 1901

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Article Text

Savings Bank Failed. Cleveland, Ohio, May 7.-The doors of the Cuyahoga Savings bank were not opened for business Monday. The following notice was posted on the window: "On account of the continued absence of R. N. Pollock, the treasurer, the directors have concluded to suspend payment until such a time as they can make an examination of their affairs. It is confidently expected that every depositor will be paid in full." Hundreds of depositors, mostly working people, gathered around the bank soon after the notice was displayed, elamoring for their money. The last statement published by the bank indicated that the individual deposits amounted to $314,966;

10. May 11, 1901 Pullman Herald Pullman, WA
Article from Pullman Herald, May 11, 1901

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Article Text

Savings Bank Failed. Cleveland, Ohio, May 7.-The doors of the Cuyahoga Savings bank were not opened for business Monday. The following notice was posted on the window: "On account of the continued absence of R. N. Pollock, the treasurer, the directors have concluded to suspend payment until such a time as they can make an examination of their affairs. It is confidently expected that every depositor will be paid in full." Hundreds of depositors, mostly working people, gathered around the bank soon after the notice was displayed, clamoring for their money. The last statement published by the bank indicated that the individual deposits amounted to $314,966; loans on real estate, discounts, etc., $332.061.

11. May 15, 1901 Willmar Tribune Willmar, MN
Article from Willmar Tribune, May 15, 1901

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Article Text

WEST AND SOUTH. Illinois' legislature, after passing senatorial and congressional arportionment bills, adjourned sine die. Mrs. Freeman Randle, in a fit of insanity, killed her two-year-old daughter and herself near Edwardsville, III. Flames destroyed the block owned by the Southern Rock Island Plow company in Dallas, Tex., the loss being $500,000. On May 18 the battleship Ohio is to be launched at San Francisco. Mrs. McKinley will pres; the button setting the ship afloat. Over 10,000 persons are homeless as a result of the Jacksonville (Fla.) fire which devastated 148 blocks, over three-quarters of the city, causing a property loss of at least $15,000,000. Mrs. Josephine Cooley and her two children and Peter Zook and his wife and two children were burned to death in a fire in South Chicago, III. At Aberdeen, S. D., Judge J. J. Healy was struck by lightning and instantly killed. Minister Conger announces his willingness to accept the nomination for governor of lowa. With deposits of $314,946 the Cuyahoga savings bank at Cleveland, O., suspended business. In a Burlington passenger wreck at Thayer, Ia., Engineer Brown was killed and 30 persons hurt. From the ruins at Jacksonville, Fla., five bodies of fire victims have been recovered. Residents of New Mexico took advantage of the president's visit to urge that the territory be made a state. Charles Reis and Emil Mohr were killed at Davenport, Ia., by the fall of a scantling while pretending to hang August Brunck. In Macon county, Mo., six men and a woman were charged with swindling fire insurance companies out of $40,000. In Chicago J. H. Halperin, aged 20, and his young wife killed themselves by inhaling gas. In a jealous rage Jesse R. King shot his wife of two months and killed himself near Millheim, Pa. In Iowa and Illinois heavy thunderstorms did great damage to property and many horses and cows were killed by ligatning. The death of Jackson Harris (colored), aged 100 years, occurred at Terre Haute, Ind. Ida Baare shot and killed her father, Gustave Baare, at their home in St. Louis and then killed herself after a family quarrel. Dispatches show that the winter and spring wheat crops of the country are in fine condition. The well-known artist, Raphael Straus, died at his home in Cincinnati, aged 72 years. The president and his party visited the Congress gold mine in Arizona and spent an afternoon at Phoenix. After a quarrel Wilsey Miller, of Rockfield, Ind., fatally shot his fiancee, Bertha Timmons, and committed suicide. Fred Kringle and wife, an aged couple residing near Packwaukee, Wis., were struck by lightning and instantly killed. In Chicago Policemen Sheehan and Mosher were found guilty of robbing Hugh McDougall. In Baltimore the first municipal election under the new ballot law resulted in victory for the republicans, who carry 18 out of the 24 wards.