Marion Savings Bank - Marion, OH

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: November 8, 1932
Location: Marion, Ohio (40.589, -83.129)

Metadata

Model: gpt-5-mini
Short Digest: b3ebb471

Response Measures

None

Description

Articles (Nov 1932 and May 1933) describe the bank in liquidation with a state superintendent/receiver in charge and seeking RFC loan to pay a dividend. No mention of depositor run; bank is in receivership/liquidation, indicating suspension and closure.

Events (2)

1. November 8, 1932 Suspension

Cause: Government Action
Cause Details: State superintendent in charge placed the bank in liquidation; receiver/administrator managing assets and seeking RFC loan to pay dividend.
Newspaper Excerpt: Administrator To Request $20,500 from R. F. C. for Marion Savings Dividend. ... liquidating assets of the charge Marion Savings bank, has authorized ... borrow $20,500 ...
Source: newspapers

2. May 16, 1933 Receivership

Newspaper Excerpt: Asks Judgment Fulton, superintendent of banks in charge of the liquidation of assets of the Marion Savings bank, seeks judgment ... Fulton is represented by the firm of Carhart, Warner & Carhart.
Source: newspapers

Newspaper Articles (2)

1. November 8, 1932 The Marion Star Marion, OH

Article from The Marion Star, November 8, 1932

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Article Text

BANK RECEIVER TO ASK Administrator To Request $20,500 from R. F. C. for Marion Savings Dividend. Don representative the state banking department liquidating assets of the charge Marion Savings bank, has authorized by Judge George Scofield court borrow $20,500 from the tion and to cent dividend to an eight positors and general creditors bank. The bank previously paid 10 per cent dividend. Lusk today said that the applica tion for the loan must go through procedure before the loan be obtained The dividend until the loan has been be paid which several obtained, weeks from he said Financial obtain loans from the Finance corporation by furnishing in the form assets which security sound but which are not

2. May 16, 1933 The Marion Star Marion, OH

Article from The Marion Star, May 16, 1933

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Article Text

RECEIVER NAMED IN PASS BOOK ACTION Mrs. Edna Bodiey Kennedy of Marion has filed suit in common pleas against Jones, receiver for the Marion National bank, to recover Citizens' Building Loan Co. deposit book which according to the petition, assigned to Mr Jones without any consideration return The deposit account the loan company showed balance of $1,632.15 when she assigned according to the petition. She seeks amounts that also recover the receiver for the loan company given the Marion might have National bank receiver on the account. attorney this Mrs. Kennedy's morning explained that she had been induced assign the deposit account as additional security National bank loan held by Marion her father. She represented by the law firm of Jacoby & Jacoby, Asks Judgment Fulton, superintendent of banks in charge of the liquidation of assets of the Marion Savings bank, seeks judgment for common pleas court action against John Brugger and others Fulton is represented by the firm of Carhart, Warner & Carhart.