17374. Standard Trust Bank (Cleveland, OH)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 28, 1933
Location
Cleveland, Ohio (41.499, -81.695)

Metadata

Model
gpt-5-mini
Short Digest
bada7b31

Response Measures

None

Description

Newspapers refer to the Standard Trust Bank as a closed institution and to actions by a liquidator/receiver in Dec 1933. The April 28, 1933 article discusses nervousness, rumors and the bank's 'collapse' but does not clearly describe a discrete depositor run preceding suspension. Therefore I classify this as a suspension (closure) rather than a run-driven episode. OCR errors in Article 1 were corrected for readability; no change to bank name or city.

Events (2)

1. April 28, 1933 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Articles describe the bank as having 'collapsed' and being among 'closed banks' and subject to liquidation; suggests insolvency/serious adverse bank-specific conditions.
Newspaper Excerpt
there have been fact the run Cleveland Trust but the highly nervous the public which lends itself silly rumors due the fact that the people land have confidence Gov. White's banking commission... Tangeman, proven themselves incapable trust their vigilance the Standard Trust Bank collapse
Source
newspapers
2. December 18, 1933 Receivership
Newspaper Excerpt
Common Pleas Court today was asked to remove C. Stirling Smith, former President of the closed Standard Trust Bank, as receiver for the Quality Ice Cream Company... charged there was a shortage ... and that Smith had withdrawn $6,730 since then without authority.
Source
newspapers

Newspaper Articles (3)

Article from The Cleveland Press, April 28, 1933

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Article Text

Asks White Clean Out to Bank Department Letters There have been fact the run Cleveland Trust but the highly nervous the public which lends itself silly rumors due the fact that the people land have confidence Gov. White's banking commission. Tangeman, proven themselves incapable trust their vigilance the Standard Trust Bank collapse other banking administrations. The people's reaction to poisonous scandal mongers would altogether different the people in Columbus State House would themselves capable and efficient. The slow progress of the organising Bank Cleveland also due directly this The raising $5,000,000 start bank should simple matter even these times, Why doesn't State Banking Commission reveal the names the real sponsors the bank? Why not relieve the tension anxiety Guardian positors that the deal will them the Union depositors inside warmth of curity? on Gov. White to clean house banking expects his United States Senate national election. Sidney Keith Building. ORDERS QUIET OPERATION Replying letter signed orders given road bus operate quietly possible. We would thank give number any bus that not operated. John Cox Director Public Relations. taxpayer city for have complaint against way things are being Hall. became aware of the obtain applying City Hall. went there and Mr. told him this long thought consideration when there jobs be handed His only this about taxpayers." payers have live This true but were and the rest them either. Perhaps Mr. need future, how about the rest on living have with nothing better in sight? Thomas Cold. DEPOSITOR ASKS QUESTIONS Usually positive, frequently Press has chosen die the fence, say without saying anything about the demise and proposed liquidation land's large banks. the depositors the closed banks would Why they should support stock bank the allowed wrecked, old banks? Why the evidently not consider any other than First National: but indorse this, first plan submitted? Why falsely assumed that majority depositors favor National plan when actually they never Why the responsibility for the closing not fixed before decision the new bank decided upon? What large depositors withdrew the last the closed and dollars people's for every should the depositors who, the exhortition of the government and the press, remained loyal the banks suffer while those who were more and who grabbed bear no loss? the condition the banks should not be made public since all assets now rightfully the depositors? Why Press does not actutake the and jority instead the First plan? As may, assumed from these the fall the Guardian and the Union was primarily to general this our other banks let place blame for the the banks then organize new bank, named personnel suspifederal hand and give the and the dividend large possible business Christian Shaker MADE HIS BLOOD made my churn my when read Monday's the president tobacco big company for services. comes smoke and filth. Don't realize you can make better and happier live from Hot days are comand this smoke back again. wants invented smoking for smokers beautiful will take where belongs. George 17720 Ingleside drive,


Article from The Cincinnati Enquirer, December 19, 1933

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Article Text

NEW RECEIVER IS SOUGHT. Cleveland, December 18-(AP)Common Pleas Court today was asked to remove C. Stirling Smith, former President of the closed Standard Trust Bank, as receiver for the Quality Ice Cream Company. In making the request P. Mooney, special counsel for the bank's liquidator, charged there was a shortage of $1,734 in the receiver's August and that Smith had withdrawn $6,730 since then without authority.


Article from The Cincinnati Enquirer, December 19, 1933

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Article Text

NEW RECEIVER IS SOUGHT. Cleveland, December 18-(AP)Common Pleas Court today was asked to remove C. Stirling Smith, former President of the closed Standard Trust Bank as receiver for the Quality Ice Cream Company In making the request P. Mooney, special counsel for the bank's liquidator, charged there was shortage of $1,734 in the receiver' accounts August and that Smith had withdrawn $6,730 since then without authority.