17338. Cuyahoga Savings and Banking Company (Cleveland, OH)

Bank Information

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

Metadata

Model
gpt-5-mini
Short Digest
e17fc362

Response Measures

Full suspension, Books examined

Other: Receiver (American Trust Company) appointed and accountants put to work on the books.

Description

Directors suspended payments on May 6, 1901 citing the unexplained absence of the president/treasurer; hundreds of depositors gathered (attempting withdrawals). A receiver (American Trust Company) was appointed and later investigations revealed alleged fictitious loans, indicating permanent failure. Sequence: suspension → depositor agitation/run → receivership/closure.

Events (3)

1. May 6, 1901 Other
Newspaper Excerpt
Hundreds of depositors, mostly working people, gathered around the bank soon after the notice was displayed, clamoring for their money.
Source
newspapers
2. May 6, 1901 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Directors closed bank because president/treasurer R. N. Pollock disappeared and a large depositor had sought to withdraw a large sum; directors suspended to examine affairs and avoid a run.
Newspaper Excerpt
On account of the continued absence of R. N. Pollock ... the directors have concluded to suspend payment until such time as they can make an examination of their affairs.
Source
newspapers
3. June 27, 1901 Other
Newspaper Excerpt
...the cashier of the bank, the late R. N. Pollock, made alleged loans to fictitious firms and persons for which no security was received.
Source
newspapers

Newspaper Articles (18)

Article from Evening Star, May 6, 1901

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Article Text

CLEVELAND BANK SUSPENDS. "Continued Absence of the Treasurer" Given as the Cause. CLEVELAND, May 6.-The doors of the Cuyahoga Savings and Banking Company at 1461 Woodland avenue were not opened for business today. The following notice was posted on the window: "On account of the continued absence of R. H. 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." 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 $299,176: loans on real estate, d'scounts, etc., $309,863.


Article from Rock Island Argus, May 6, 1901

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Article Text

Cuyahoga Savings and Banking Institution Suspends. INVESTIGATION TO BE MADE Believed That the Depositors Will Be Paid in Full. Cleveland, May 6.-The - doors of the Cuyahoga Savings and Banking company were not opened for business today. The following notice was posted on the window: "On account of the continued absence of R. N. Pollock, treasurer, the directors concluded to suspend payment until such time as they can make an examination of his affairs." Believed to be Solvent. It is confidently expected that every depositor will be paid in full.


Article from The Morning Astorian, May 7, 1901

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TWO OHIO FAILURES. Receivers Appointed for Cuyahoga Savings and Banking Company and U. S. Carbon Co. CLEVELAND, May 6.-The American Trust Company has been made received for the Cuyahoga Savings and Banking Company, which suspended today. Owing to the failure of the bank, the United States Carbon Company, of Cleveland, is involved and a receiver for that concern has also been appointed. The sister of President R. N. Pollerick, of the bank, has returned from New York City unable to find him. It is said that the bank has more than $100,000 worth of paper that is worthless.


Article from The Saint Paul Globe, May 7, 1901

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PRESIDENT OUT OF SIGHT CLEVELAND SAVINGS BANK HAS CLOSED ITS BOORS. CLEVELAND, May 6. - The doors of the Cuyahoga Savings and Banking company were not opened for business today. The following notice was posted on the win. dow: "On account of the continued absence of R. N. Pollock, the president, the directors have concluded Ito 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." 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., $3.2,061. President Pollock left the city ten days ago, ostensibly for New York. Since that time nothing has been heard from him. Experts were put to work on the bank's books today.


Article from New-York Tribune, May 7, 1901

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CLEVELAND BANK CLOSES ITS DOORS. PRESIDENT'S UNEXPLAINED AESENCE FOR TEN DAYS THE CAUSE. Cleveland, Ohio, May -The doors of the Cuyahoga Savings and Banking Company, at No. 1,461 Woodland-ave.. 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 president, 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 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; loans on real estate, discounts, etc., $332,061. Mr. Pollock left the city ten days ago, ostensibly for New-York. Since that time nothing has been heard from him. Experts were put to work on the bank's books to-day.


Article from The Sun, May 7, 1901

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Article Text

SAVINGS BANK QUITS. Absence of Treasurer Causes Closing of a Cleveland Institution. Cleveland. May 6.-The doors of the Cuyahoga Savings and Banking company. 1461 Woodland avenue, have been closed. The following notice is posted on the window: "On account of the continued absence of It. N. Pollock, the treasurer, the directors have concluded to suspend payment until such time as they can make an examination of their alfairs. 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. clainoring for their money. The last statement published by the bank indicated that the individual de posits amounted to $209,176: loans on real estate, discounts, etc., $309,863.


Article from The Billings Gazette, May 7, 1901

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PRESIDENT IS CONE Cleveland Savings Bank Turned to Trust Company Pending Investigation. Cleveland, May 6.-On account of the continued absence of President R. N. Pollock, of the Cuyahoga Saving and Banking company closed today, pending an examination. The depositors are mainly working people. The deposits amount to $300,000. President Pollock left the city ten days ago, ostensibly for New York. Since that time nothing has been heard from him. Experts were put to work on the bank's books today. The American Trust company has been made receiver for the Cuyahoga Savings and Banking company and has taken possession of the affairs of the bank. The United States Carbon company, of Clevelandd, is involved, and receiver for that concern, Walter D. Sayle, has also been appointed, who has given bond in the sum of $100,000. Accountants are at work on the books of the Cuyahoga bank. The principal cause leading up to the closing of the bank was found in the fact that one of the largest depositors called at the bank Saturday night and asked permission to withdraw $22,000. The money was not forthcoming. Fearing a run on the bank when this


Article from The Indianapolis Journal, May 9, 1901

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SUICIDE OF A BANKER MAN SUPPOSED TO BE R. N. POLLOCK TAKES HIS OWN LIFE. President of a Cleveland Institution, Who Disappeared Ten Days Ago, Kills Himself in Seattle. SEATTLE, Wash., May 8.-A man believed to be R. N. Pollock, the missing president of the Cuyahoga Savings and Banking Company, Cleveland, O., killed himself here to-day in the Hotel York with a pistol. A razor, a two-ounce box of "Rough-on-rats" and a vial containing 100 tablets of aconite were found near at hand. All papers belonging to the man had been burned before he killed himself. Pollock arrived here on Monday and registered as James Fisher. He failed to appear during the next day and his room was finally broken into and his body found. The coroner was called in. The deceased had not apparently stirred after firing the fatal shot. No clew could be obtained in the room and the name of R. N. Pollock was found sewed on the inside of his coat, placed there by a Cleveland, O., tailor. Pollock was well dressed and had $30 in his pocket. CLEVELAND, O., May 8.-R. N. Pollock, who killed himself in Seattle to-day, was the president of the Cuyahoga Savings and Banking Company of this city. He was thirty-eight years old, 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 located until news of the suicide reached here to-night. The condition of the bank is yet a matter of conjecture, its books being in the hands of the receiver. The bank had deposits at one time to the extent of $340,000. The effect of rumors of the bank's weakness was feared, and to avoid the outcome of an immediate demand for such a large sum of money the directors decided to suspend business and a receiver was appointed. Other Cleveland bankers, it is said, would have gone to the assistance of the Cuyahoga Savings Bank had they been asked. The bank was not prominent among the city's financial institutions, being located in the residence district and its deposits being for small sums. The receiver of the bank stated to-night that Pollock did not take the money that was in the bank at the time of his leaving the city, and it is believed that, knowing that a crisis was near, Pollock sought safety in flight. The United States Carbon Company, which went into the hands of a receiver on account of the failure of the bank, is said to be not seriously involved, and it is expected to resume operations soon with increased facilities.


Article from The Age-Herald, May 9, 1901

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BANKER POLLOCK SHOOTS HIMSELF Cleveland Man Commits Suicide in Washington-Head of Closed Institution / Seattle, Wash., May 8.-A man believed to be R. N. Pollock, the missing prestment of the Cuyahoga Savings and Banking Company, Cleveland, Ohio, killed himself here today in the Hotel York with a pistol. A razor, a two-ounce box of rough on rats and a phial containing 100 tablets of aconite were found near at hand. All papers belonging to the man had been burned before he killed himself. The name of R. N. Pollock was found sewed inside of his coat, placed there by a Cleveland tailor. Cleveland, Ohio, May 8.-R. N. Pollock, who killed himself in Seattle today, was the president of the Cuyahoga Savings and Banking Company of this city. He was 38 years old, married and had three. children. He was the promoter of the bank which closed its doors last Wednesday. Pollock disappeared ten days ago, and had not been definitely located until news of his suicide reached here tonight. The condition of the bank is yet a matter of conjecture, its books being in the hands of the receiver. The bank had deposits at one time to the extent of $430,000. The effect of rumors of the bank's weakness was feared by the directors and consequently they suspended pending further investigation. Other Cleveland institutions of money offered their assistance to the Cuyahoga bank and some confidence has thereby been restored. The receiver of the bank stated tonight that Pollock did not take the missing money that was in the bank at the time of his leaving the city and it is believed that, knowing a crisis was near, Pollock sought safety in flight. The United States Carbon Company, which went into the hands of a receiver on account of the failure of the bank, is said to be not seriously involved, and it is expected to resume operations soon with increased facilities.


Article from The Penn's Grove Record, May 10, 1901

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# CLEVELAND BANK CLOSED. Directors Suspend Payment Owing to the Absence of the Treasurer. Cleveland, Ohio. The doors of the Cuyahoga Savings and Banking Company were not opened for business a few days ago. 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." 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 $299,176; loans on real estate, discounts, etc., $309,863.


Article from Iowa State Bystander, May 10, 1901

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BANKER COMMITS SUICIDE Cleveland Fugitive Kills Himself in Seattle. HE BURNS ALL HIS PAPERS. Name on the Inside of His Coat Identifies Him-Institution of Which the Dead Man Was President Closed Its Doors Monday. Seattle, Wash., May 10.-R. N. Pollock, the missing bank president from Cleveland, O., committed suicide here in the Hotel York by shooting himself in the head. A razor, a two-ounce box of poison and a phial containing 100 tablets of aconite were found in his room. He had burned all papers. Pollock arrived here Monday and registered as James Fisher. He failed to appear during Tuesday and yesterday his room was finally broken open and his dead body found. Pollock had not apparently stirred after firing the fatal shot. No clew could be obtained in the room, and the name of R. N. Pollock was found sewed on the inside of his coat, placed there by a Cleveland (0.) tailor. Condition of Bank Not Known. Cleveland, O., May 10.-R. N. Pollock, who committed suicide in Seattle, Wash., was president of the Cuyahoga Savings and Banking company at No. 1461 Woodland avenue. Last Monday, by order of the directors, the doors of the institution were closed. At that time Pollock had been absent from the city for about ten days, and no clew to his whereabouts was obtained until a message announcing his suicide in Seattle came last night. The affairs of the company were placed in the hand of the American Trust company, which was appointed receiver and ordered to take possession of all the property and conduct the business of the bank. One of the largest industrial concerns in the city, the United States Carbon company, is involved through the action of the bank in closing its doors, and a receiver was appointed for that corporation. Expert accountants are at work on the books of the Cuyahoga bank. The immediate cause leading to the closing of the bank was found in the fact that one of the heaviest depositors called at the bank Saturday night and asked permission to withdraw $20,000. The money was not forthcoming. Fearing a run on the bank when this should become known, a meeting of the directors was called and it was decided to close the doors. Monday six lawsuits having a bearing on the case were begun in the courts. The bank has deposits to the extent of $340,000, but was not prominent in the city's financial institutions, being located in the residence district, and its deposits being for small sums. The receiver of the bank stated tonight that Pollock did not take the money that was in the bank at the time of his leaving the city, and it is believed that, knowing a crisis was near, Pollock sought safety in flight.


Article from The Stark County Democrat, May 10, 1901

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SUICIDE ENDS FLIGHT. The Condition of the Institution Is as Yet a Matter of Conjecture. Seattle, Wash., May 9.-A man believed to be R. N. Pollock, the missing bank president from Cleveland, ended his life here in the Hotel York, by sending a bullet through his brain. A razor, a box of rough on rats and a phial containing about 100 tablets of aconite were found at hand. Papers belonging to the man had been burned before committing the deed. Pollock appeared well dressed, had $30 in money in his pocket. He appeared to have been 30 years old, with a light complexion and wearing a small brown moustache. Pollock arrived here 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. The coroner was called in. The deceased had not apparently stirred after firing the fatal shot. No clue could be obtained in the room, and the name of R. N. Pollock was found sewed on the inside of his coat, placed there by a Cleveland, O., tailor. Cleveland, May 9.-R. N. Pollock, who killed himself in Seatle, was the president of the Cuyahoga Savings and Banking company, of this city. He was 38 years old, married and had three children. He was the promoter of the bank, which closed its doors last Monday. Pollock disappeared 10 days ago and had not been definitely placed until the news of his act of self-destruction reached this city last 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 rumors of its weakness were feared, and to avoid the inevitable outcome of an immediate demand for a large sum of money the directors decided to suspend business and a receiver was appointed. Other Cleveland bankers, it is said, would have gone to the assistance of the Cuyahoga Savings bank had it been asked for. The bank was not prominent in the city's financial institutions, being located in the residence district and its deposits being for small sums. The receiver of the bank stated that Pollock did not take the money that was in the bank at the time of his leaving the city, and it is believed that, knowing that a crisis was near, Pollock sought safety in flight. The United States Carbon company, which went into the hands of a receiver on account of the failure of the bank, is said to be not seriously involved, and it is expected to resume operations soon with increased facilities.


Article from Decorah Public Opinion, May 15, 1901

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BANK PRESIDENT SUICIDES Solving the Mystery of a DisappearanceBank in Receiver's Hands, Cleveland, May 9.-R. N. Pollock, who killed himself in Seattle yesterday, was the president of the Cuyahoga Savings and Banking company, this city. He was 38 years old, married, and had three children. He was the promoter of the bank, which closed its doors last Mònday. Pollock disappeared ten days ago, and had not been definitely placed until news of his act of self-destruction reached this city last 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.


Article from The County Record, May 16, 1901

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Treasurer Absent. Cleveland, Special.-The doors of the Cuyhago Savings and Banking Company. at 1461 Woodland avenue, were not opened for business on account of the absence of R. U. Pollock, the treasurer, whose, whereabouts are not known. A receiver has been appointed. The bank has individual de posits of $314,966.


Article from Custer Weekly Chronicle, May 18, 1901

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CLEVELAND BANKER COMMITS SUICIDE R. N. Pollock, President of Failed Institution, Kills Himself in Seattle. FLED FROM OHIO LAST WEEK Not Known Whether He Was an Embezzler or Not-Condition of the Bank, Which Failed Last Week, Being Investigated. Seattle, Wash., May 10.-A man believed to be R. N. Pollock, the missing bank president from Cleveland, O., ended his life here yesterday in the Hotel York, by sending a bullet through his brain. A razor, a two-ounce box of rough on rats and a phial containing 100 tablets of aconite were found at hand. All papers belonging to the man had been burned before he committed the deed. The suicide 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. The coroner was called in. The deceased had not apparently stirred after firing the fatal shot. No clew could be obtained in the room and the name of R. N. Pollock was found sewed on the inside of his coat, placed there by a Cleveland, O., tailor. The man appeared well dressed and had $30 in money in his pocket. Cleveland, O., May 9.-R. N. Pollock, who killed himself in Seattle, was the president of the Cuyahoga Savings and Banking company, of this city. He was 38 years old, 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 act of self destruction reached this city last evening. The condition of the bank is as yet a matter of conjecture, its books being in the hands cf 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 ru- mors of its weakness were circulated and to avoid the inevitable outcome of a possible immediate demand for a large snm of money the directors decided to suspend business and a receiver was appointed. Other Cleveland bankers, it is said, would have gone to the assistance of the Cuyahoga Savings bank had it been asked for. The bank was not prominent in the city's financial institutions, being located in the residence district, and its deposits being for small sums. The receiver of the bank stated last night that Pollock did not take the money that was in the bank at the time of his leaving the city, and it is believed that knowing that a crisis was near Pollock sought safety in flight. The United States Carbon company, which went into the hands of a receiver on account of the failure of the bank, is said to be not seriously involved, and it is expected to resume operations soon with increased facilities.


Article from The Abbeville Press and Banner, May 22, 1901

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CLEVELAND BANK CLOSED. Directors Suspend Payment Owing to the Absence of the Treasurer. Cleveland, Ohio.-The doors of the Cuyahoga Savings and Banking Company were not opened for business a few days ago. 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." 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 $299,176; loans on real estate, discounts, etc., $309,863.


Article from The Sun, June 28, 1901

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Poor Outlook For Depositors. Cleveland. June 27. The affairs of the Cuyahoga Savings and Banking company. which are being investigated, to not show favorable results for the lepositors. In a statement Edwin V. Hale. the acting receiver, says that the cashier of the bank. the late R. N. Pollock, made alleged loans to fictitious firms and persons for which no security was received.


Article from The Washington Times, January 1, 1902

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MAY. 6. The Cuyahoga Savings and Banking Company. Cleveland, suspends on account of the disappearance of President R. N. Pollack. 8. The Colonial Steel Company of America organized. 9. A flurry begins on New York Stock Exchange. 16. The Guffey Petroleum Company chartered in Texas. 18. The Albany car strike ended by compromise. 20. Machinists' strikes begin in various cities. 29. Loree succeeds Cowen as president of the Baltimore and Ohio Railroad.