17581. Marion National Bank (Marion, OH)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
6308
Charter Number
6308
Start Date
May 22, 1911
Location
Marion, Ohio (40.589, -83.129)

Metadata

Model
gpt-5-mini
Short Digest
ee8bee0e

Response Measures

None

Description

Newspaper items (May 22 and Aug 3, 1911) show the Marion National Bank is under a court-appointed receiver (Henry B. Hane; later John E. Waddell) and receiver's report confirmed; no mention of a depositor run. This indicates suspension/closure with receiver rather than a run or later reopening.

Events (2)

1. May 22, 1911 Suspension
Cause
Government Action
Cause Details
Court action led to appointment of a receiver; receiver's partial report confirmed by court
Newspaper Excerpt
In the matter of the Marion National bank against the Implement Manufacturing company and others, an action for the appointment of a receiver, the partial report of Receiver Henry B. Hane has been confirmed
Source
newspapers
2. September 2, 1911 Receivership
Newspaper Excerpt
is called and will be held at the place of business of the Marion National Bank... on Saturday, September 2nd, 1911 at 10 o'clock a. m., at which all accounts and demands for and against said corporation... shall be ascertained and adjusted. John E. Waddell. Receiver.
Source
newspapers

Newspaper Articles (2)

Article from The Marion Daily Mirror, May 22, 1911

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Article Text

Judge Daniel Babst came down from Crestline a short time this morning and made an order in the C., D. & M. Case, in which Newton J. Catrow is plaintiff, and which involves the receivership matter in which the question of jurisdiction is being fought. General E. B. Fnley, of Bucyrus, Judge C. C. Williams of Columbus, and Harry West, representing Ell M. West, present receiver of the road, were here, the former two representing the C., D. & M., and West representing his father. General (Finley filed a motion asking for leave to file an answer and cross-petition in the Catrow case, claiming that he was attorney for E. A. McBee, Robert J. Bingham and Samuel Castleman, who assert that they are agents for stockholders and represênt 4,300 shares of stock. Judge Bobst rather indicated his course of action by ardering that a complete record of the case be made in this court and that means that the entire matter will probably be threshed out here. He will be back to Marion next Monday when it is expected that he will hear arguments on the matter of permitting the filing of intervening petitions, and will also indicate what action he intends taking with reference to jurisdiction. The decision will be watched with the greatest interest by members of the legal fraternity in this city, In the matter of the Marion National bank against the Implement Manufacturing company and others, an action for the appointment of a receiver, the partial report of Receiver Henry B. Hane has been confirmed and he is allowed as his compensation a commission of three per cent. on all money collected and accounted for by by him. The receiver is also ordered to distribute to the stockholders who have paid in full the judgment against them, all the funds available for that purpose, which is $12.50 per share of stock. The receiver is also ordered to sell all unpaid judgments against the stockholders after giving ten days' notice by advertising.


Article from The Marion Daily Mirror, August 3, 1911

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Article Text

is called and will be held at the place of business of the Marion National Bank. in the City of Marion. Ohio. on Saturdav. September 2nd. 1911 at 10 o'clock a. m., at which all acounts and demands for and against said corporation. and all its open and subsisting contracts, shall be ascertained and adjusted. John E. Waddell. Receiver. Crissinger & Guthery Attvs. 7-27-3t Thu.