Dresden Bank - Dresden, OH

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: February 17, 1931
Location: Dresden, Ohio (40.121, -82.011)

Metadata

Model: gpt-5-mini
Short Digest: 008c95e9

Response Measures

None

Description

Article (Coshocton Tribune, 1931-02-18) reports the State bank in Dresden was closed by the state banking department at the request of the bank's board of directors to prevent a heavy run. The piece does not report an actual depositor run nor a receivership; no reopening date is given. I classify this as a suspension (by government action) with no reported run and likely temporary closure — hence suspension_reopening as the most plausible category. If later articles show permanent closure/receivership, the classification would change.

Events (1)

1. February 17, 1931 Suspension

Cause: Government Action
Cause Details: Closed by the state banking department at the request of the bank's board of directors to prevent a heavy run on the institution.
Newspaper Excerpt: closed yesterday by the state banking the request of the partment at bank's board of directors
Source: newspapers

Newspaper Articles (1)

1. February 18, 1931 The Coshocton Tribune Coshocton, OH

Article from The Coshocton Tribune, February 18, 1931

Click image to open full size in new tab

Article Text

Depositors Will Be Paid in Confidence that the State bank, which was closed yesterday by the, state banking the request of the partment at bank's board of directors, will pay its depositors dollar for dollar. was today by Gallagher. expressed president of the Peoples Bank this city, stockholder Trust in the Dresden institution. was reported yesterday in Dresden that Mr. Gallagher rector of the bank. but he explained today that altho he was elected to the board he failed qualify and has never attended any of the board meetings. Mr. Gallagher owns five shares in the Dresden bank, he said. Mr. Gallagher also stated that the local bank will not take over the Dresden Institution and operate in connection with the local bank. He stated that the Dresden bank good condition. but that it was felt that would be best to close the institution in order to prevent heavy run on the institution. number Dresden residents found to be incensed against Carnes, president and cashof the Dresden bank. because of his action in accepting deposits in the afternoon previous to the morning the bank was closed by state banking department. Clayton Cazer. assistant cashof the bank. who resigned week told reported for The ago. Tribune that he has "just decided to and that his resignation did not result from any difficulties with Mr. Carnes. as it was rumored Dresden yesterday He stated that he was not aware the fact that the bank was be closed. and declared that the bank had not been speculating stocks and that there was no shortage of funds. which also rumDresden following the closof the bank's doors yesterday.