First National Bank - Massillon, OH

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 216
Charter Number: 216
Start Date: December 30, 1933
Location: Massillon, Ohio (40.797, -81.522)

Metadata

Model: gpt-5-mini
Short Digest: 77d72e77

Response Measures

None

Receivership Details

Depositor recovery rate: 86.6%
Date receivership started: 1933-05-23
Date receivership terminated: 1941-03-14
Share of assets assessed as good: 28.6%
Share of assets assessed as doubtful: 67.2%
Share of assets assessed as worthless: 4.2%

Description

Articles from Dec 1933 through Oct 1934 refer repeatedly to H. Ross Ake acting as receiver for the First National Bank of Massillon, including foreclosure actions and a sale of bank-related property. No article describes a depositor run; the bank was in receivership and being liquidated/foreclosed, so classification is a suspension leading to closure/receivership.

Events (5)

1. January 25, 1864 Chartered

Source: historical_nic

2. May 23, 1933 Receivership

Source: historical_nic

3. December 30, 1933 Suspension

Cause: Government Action
Cause Details: Bank placed in receivership and property sales administered by H. Ross Ake, receiver (court-appointed).
Newspaper Excerpt: The sale conducted by Ross Ake, The First National Bank Massillon authorized ... provide the receiver The First National Bank of Massillon with adequate ... and secure the release and discharge The First National Bank
Source: newspapers

4. August 18, 1934 Receivership

Newspaper Excerpt: Suits asking double liability assessments from 42 citizens of Massillon who were of the old First National Bank there were filed in Federal Court here. It was the instance of litigation started in court against Massillonites by H. Ross Ake, bank receiver ... The total asked in the 42 suits was $64,700. (The News-Messenger, 1934-08-18).
Source: newspapers

5. October 10, 1934 Receivership

Newspaper Excerpt: H. Ross Ake as receiver for the First National bank of Massillon VS. Cecil B. Donoof Massillon et al ... H. Ross Ake as receiver for the First National bank of Massillon VS. Thomas C. Davis of Massillon et al, foreclosure, Lynch, Day, Pontius & Lynch, attorneys. (The Independent, Oct. 10, 1934).
Source: newspapers

Newspaper Articles (3)

1. December 30, 1933 The Independent Massillon, OH

Article from The Independent, December 30, 1933

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Article Text

BUILDING HERE IS (Continued from Page One) due Oct. 22, 1934, with interest percent from Jan. 1934 The sale conducted by Ross Ake, The First National Bank Massillon authorized Judge Samuel West the district court of the United States for the northern district of Ohio, eastern and the the currency of the United States. Terms The sale was subject the lowing terms and conditions: That the purchaser pay taxes and assessments the premises falling due in 1933, and therethat the purchaser agree provide the receiver The First tional Bank of Massillon with adequate and vault space and the of sufficient equipment and the carrying on the of receiver's trust without charge to the trust during its life; and secure the release and discharge The First National Bank of as original maker upon mortgage note and mortgage Between $5,000 and $10,000 will spent by the announced today. rehabilitating and improvthe building make one the outstanding business structures the city.

2. August 18, 1934 The News-Messenger Fremont, OH

Article from The News-Messenger, August 18, 1934

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Article Text

SUES STOCK OWNERS OF MASSILLON BANK Suits asking double liability assessments from 42 citizens of Massillon who were of the old First National Bank there were filed in Federal Court here. It was the instance of litigation started in court against Massillonites by H. Ross Ake, bank receiver Several ago he sued 24 stockholders of the former Union National Bank in the same manner. The largest amount assessed in today's suits was $9,000. and was against Mrs. France S. Schuckers The total asked in the 42 suits was $64,700. DENIES RUMOR for the Japanese foreign of today emphatically denied Russian allegations that Japan is planning forcibly to seize the Chinese Eastern Railway, which is largely owned by Russia, without The ideal is but the truth at distance.

3. October 10, 1934 The Independent Massillon, OH

Article from The Independent, October 10, 1934

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Article Text

SUITS FILED BY BANK RECEIVER CANTON, Oct. 10.-Suits filed in common pleas court include: H. Ross Ake as receiver for the First National bank of Massillon VS. Cecil B. Donoof Massillon et al, marshal liens, Lynch, Day, Pontius & Lynch. attorneys. H. Ross Ake as receiver for the First National bank of Massillon VS. Thomas C. Davis al, to marshal liens, Lynch, Day Pontius & Lynch, attorneys. H. Ross Ake as receiver for the First National bank of Massillon VS. Thomas Davis of Massillon et al, foreclosure, Lynch, Day, Pontius & Lynch, attorneys.