National Bank - Hudson, OH

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 9221
Charter Number: 9221
Start Date: April 3, 1933
Location: Hudson, Ohio (41.240, -81.441)

Metadata

Model: gpt-5-mini
Short Digest: 38585bb8

Response Measures

None

Description

Article (The Plain Dealer, 1933-04-03) states the National Bank of Hudson, Ohio, had been operating on a restricted-withdrawal basis and will open on normal basis with an agreement of depositors to pay 10% to assets (OCR garbled). No explicit depositor run is described; this is a suspension (restricted withdrawals) followed by reopening. I classify the cause as macro_news (1933 banking crisis era) because the piece does not describe a discrete rumor or bank-specific insolvency. OCR corrections: restricted withdrawal basis and a depositor agreement to contribute 10 per cent (text garbled).

Events (3)

1. August 20, 1908 Chartered

Source: historical_nic

2. April 3, 1933 Reopening

Newspaper Excerpt: will open on normal basis with the exception that there be in force an agreement of depositors 10 per of to assets
Source: newspapers

3. * Suspension

Cause: Macro News
Cause Details: Bank had been operating on a restricted-withdrawal basis (partial suspension) likely related to the wider banking crisis of early 1933; article gives no bank-specific insolvency or rumor trigger.
Newspaper Excerpt: Depositors of the National Bank of Hudson, O., will receive in the mail this the that bank which has been doing business per restricted withdrawal basis since the
Source: newspapers

Newspaper Articles (1)

1. April 3, 1933 The Plain Dealer Cleveland, OH

Article from The Plain Dealer, April 3, 1933

Click image to open full size in new tab

Article Text

GUARDIAN FIXES SHOWDOWN DATE (Continued From First Page) at that time should neither interfere the necessary business prejudice its case with the Tangeman to Go Along. Among those at the Guardian conwas held in the land Federal Bank were Sidney B. Cleveland representative of the R. State ComDirector Theodore H. Tangemerce State Superintendent of man and Banks Ira Fulton. Fulton returned Columbus but to man said he in from here and Guardian committee to and Union Trust Co. officials and heads met bank partment yesterday over the details of in common the to be matched an equal stock by amount of for the organization the First National Bank of the new directors of the today Trust will meet to approve Union Co. formally the official sanction by Washington given last week. of the Joseph R. the who board the First National be president Bank yesterday word from Cleveland Stock Exchange that the members assist receiving to the and of the First National president of the change said last that all stock handled through the memwould be sold without of course deviation from our in this feel the sale the in vital to will be by members in handling the new stock during this drive. Letter to Kraus Drach's letter Kraus read the First Na tional of interest and cided public general community needs will best be served by immediate your plan The sale of in bank large undertaking and should have the CO. operation all able help believe the members of the Cleveland Stock Exchange by reason of their and be of in the and obtaining capital bank and do hereby offer behalf of the Stock members our support and co-operation following firms and persons comprise membership Borton and feel free to call upon Carl the Trust said that his bank had expected to have its information ready today to be turned over to Washington authoribut that number of details which needed further investigation had made He said he expected little delay, after presenting the bank's R. officials, in obtaining Washington's verdict Members of the fact-finding committee depositors of the three unlicensed Cleveland banks conferred with after the Guardian conference Daniel H. Wasserman said that the committee had care. fully questioned H. W elected to the by the positors their meeting Friday and had come to the conclusion that Mitchell would work very with the Mitchell said another meeting of the depositors would not be called until the committee had important convey Carter Hotel was very nice its room Friday Mitchell said want to presume on that kindness Nor do we to out and hall without important to tell the When we get that kind of information we'll call meeting immediately Depositors of the National Bank of Hudson, O., will receive in the mail this the that bank which has been doing business per restricted withdrawal basis since the will open on normal basis with the exception that there be in force an agreement of depositors 10 per of to assets Teacher to Run Bank. The bank also announces in depositors the appointment Clarence formerly of Akron cashier. Cole moving to Hud the of Paul M Held president and the of Western Reserve Acad emy as acting the tank is now entirely by Hudson residents. The executive committee is made of Dr George and James G. of Hudson In the of his talks WHK "The New Deal and ing Rabbi Barnett Brickner yesterday called for legisbank deposits Under the Rabbi Brickner said all the Syspay per cent of their deposits an insurance fund that any member bank the indemnity would come out of this he "would make for rigid government The advocated Presidents Theodore Roosevelt and Woodrow but the bankers' association opposed My suspicion is that they because they did not want such strict some such system is in be forced to have banks prevent on banks because people they get their whether or not the bank Brickner speaking of bank failures in the twelve said that "even business has not such bad business by the fact that few banks with their directorates most of the large industries Control of business banks is form of slavery We must separate the wise the individual will have chance at We will all be ployes of impersonal corporations, controlled by banks That would be the death knell of American business advocate the abolition of state banks and the of banking under federal under plan similar to that used in England and Canada. banking with both state and national the American banking Foremost in the banking system of Eng is the moral attitude of the bankers First and foremost, they speculating tors They are trustees of funds further advocate the ment of department store' banking banking which so many other forms of allowed We have the most vicious form banking in the and that the reason our system of has collapsed.