Dresden State Bank - Dresden, OH

Bank Information

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

Metadata

Model: gpt-5-mini
Short Digest: cee02796

Response Measures

None

Description

Article (The Tribune, 1931-02-18) reports the Dresden State Bank was closed by the state banking department at the request of the bank's board of directors (closure noted as having occurred 'yesterday'). Closure appears administrative/government action to head off a heavy run; the article gives no indication the bank reopened. No explicit, successful depositor run is described prior to suspension.

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 and amid local concerns over the president/cashier's actions.
Newspaper Excerpt: the Dresden State bank, which was closed yesterday by banking department at the request the bank's board of directors
Source: newspapers

Newspaper Articles (1)

1. February 18, 1931 The Tribune Coshocton, OH

Article from The Tribune, February 18, 1931

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Article Text

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