17664. First National Bank (Orrville, OH)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
6379
Charter Number
6379
Start Date
September 27, 1905
Location
Orrville, Ohio (40.844, -81.764)

Metadata

Model
gpt-5-mini
Short Digest
82a88dfe

Response Measures

Full suspension, Books examined

Other: Receiver appointed by Comptroller; closure ordered by Comptroller of the Currency.

Receivership Details

Depositor recovery rate
78.0%
Date receivership started
1905-09-27
Date receivership terminated
1907-09-24
OCC cause of failure
Excessive lending
Share of assets assessed as good
20.4%
Share of assets assessed as doubtful
61.8%
Share of assets assessed as worthless
17.8%

Description

Multiple wire dispatches (Sept 27–28, 1905) report a continuous run on the First National Bank of Orrville that led the Comptroller of the Currency to close the bank and appoint George T. Cutts receiver. Local contagion from a Smithville bank run (and a director/cashier connection) is cited as the likely trigger.

Events (5)

1. August 14, 1902 Chartered
Source
historical_nic
2. September 27, 1905 Receivership
Source
historical_nic
3. September 27, 1905 Receivership
Newspaper Excerpt
George T. Cutts, national bank examiner, has been appointed receiver.
Source
newspapers
4. September 27, 1905 Run
Cause
Local Banks
Cause Details
Run was started by the closing of the bank at Smithville and concern about a shared director/cashier link.
Newspaper Excerpt
closed its doors by order of the controller of the currency on account of a continuous, run upon the bank.
Source
newspapers
5. September 27, 1905 Suspension
Cause
Local Banks
Cause Details
Closed by order of the Comptroller of the Currency because of a continuous run upon the bank; receiver appointed.
Newspaper Excerpt
The First National Bank, Orrville, Ohio, today closed its doors by order of the controller of the currency. George T. Cutts, national bank examiner, has been appointed receiver.
Source
newspapers

Newspaper Articles (17)

Article from Evening Star, September 27, 1905

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Article Text

Orrville, Ohio, Bank Closed. The First National Bank, Orrville, Ohio, today closed its doors by order of the controller of the currency on account of a continuous, run upon the bank. George T. Cutts, national bank examiner, has been appointed receiver.


Article from The Minneapolis Journal, September 27, 1905

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Article Text

OHIO BANK CLOSES DOORS. Washington, Sept. 27.-The First National bank, Orrville, Ohio, today closed its doors by order of the controller of the currency, on account of a continuous run upon the bank.


Article from Santa Fe New Mexican, September 27, 1905

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Article Text

OHIO NATIONAL BANK CLOSES ITS DOORS. Washington, Sept. 27.-The First National Bank of Orrville, Ohio, closed its doors today by order of the comptroller of the currency, on account of a continuous run. George T. Cutts, national bank examiner, was appointed receiver.


Article from The Roswell Daily Record, September 27, 1905

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Article Text

National Bank Closed. Washington, D. C., Sept. 27.-The First National Bank, of Orrville, O., closed its doors today by order of the comptroller of the currency, on account of a continuous run. George T. Cutts, national bank examiner, was appointed receiver.


Article from The Topeka State Journal, September 27, 1905

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Article Text

First National of Orrville Closes. Washington, Sept. 27.-The First National bank of Orrville, Ohio, today closed its doors by order of the comptroller of the currency, on account of a run on the bank. Geo. T. Cutts, national bank examiner, has been appointed receiver.


Article from Bismarck Daily Tribune, September 28, 1905

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Article Text

CLOSED BY COMPTROLLER. I First National Bank of Orrville, O., Suspends Business. Washington, Sept. 28.-The First National bank of Orrville, O., has closed its doors by order of the comptroller of the currency on account of a continuous run upon the bank. George T. Cutts, national bank examiner, has been appointed receiver.


Article from Ottumwa Tri-Weekly Courier, September 28, 1905

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Article Text

RAPIDLY MOVING EXPRESS CAR SCENE OF DEADLY DUEL RUN CLOSES BANK. Orrville Institution is Ordered to DisMESSENGER AND FORMER EM. continue Business. PLOYE OF EXPRESS COMPANY NEAR DEATH. Washington, D. C., Sept. 27.- * The First National bank of Orrville, Ohio, today closed its doors by order of the comptroller, per* mantly, on account of a continuTHEIR STORIES DIFFER * ous run upon the bank.


Article from The Bemidji Daily Pioneer, September 28, 1905

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Article Text

CLOSED BY COMPTROLLER. First National, Bank of Orrville, O., Suspends Business. Washington, Sept. 28.-The First National bank of Orrville, O., has closed its doors by order of the comptroller of the currency on account of a continuous run upon the bank. George T. Cutts, national bank examiner. has been appointed receiver.


Article from Rock Island Argus, September 28, 1905

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Article Text

Run Closes Bank. Washington, Sept. 27.-The First National bank of Orrville, Ohio, has closed its doors by order of the controller on account of a continuous run on the bank.


Article from Alexandria Gazette, September 28, 1905

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Article Text

News of the Day. The Episcopal convention of the Diocese of New York voted against division yesterday. Bishop Potter, of New York, in his triennial charge to the clergy of his diocese, declares that climatic conditions and the manner of modern American living demand the observance of the Sabbath. The grand jury's investigation of the alleged election frauds in Richmond has been completed, and the jury now is engaged in preparing its report. It is understood that there will be no additional indictments found. The First National Bank, of Orrville, O., yesterday closed its doors by order of the Comptroller of the Currency, on account of a continuous run upon the bank. George T. Cutts, national bank examiner, has been appointed receiver. This is a small bank with a capital of $25,000. It is probable that Congressman John Sharp Williams, of Mississippi, the floor leader of the House, will make several speeches in Virginia in behalf of Congressman Swanson's candidacy. A barbecue has already been arranged for him at Salem, where he is to appear October 20. Senator-elect Isador Rayner, of Maryland, also has promised to lend a helping hand to the democrats of Virginia. A semi-official note issued in Paris Tuesday evening, after a lengthy conterence at the Foreign Office between Prince von Radolin, Premier Rouvier, Dr. Rosen, the new German Minister to Morocco, and M. Revoil, former Governor of Algiers, who has represented France in the negotiations with Dr. Rosen, states that the negotiators entirely agreed on the French point of view relative to the Moroccan situation. A dispatch from Gothenburg, Sweden, says that a severe earthquake was felt at 1:30 p. m. Tuesday at Lundby, Hisingen Island. It cracked the walls of houses and fissured the surface of the ground. Subterranean rumblings were quickly followed by the violent rocking of houses and the splitting of inner and outer walls, driving the inmates to seek safety in the open air. It many places fissures a foot wide were opened up while the level of the ground in the eastern part of the island sank appreciably. The disturbances lasted a minute. The liner Korea arrived at San Francisco yesterday from the Orient. Among her passengers were Secretary of War Taft and most of the members of a party which left with him for the far East on the Manchuria on July 8 last. In a lengthy interview Secretary Taft described the journey made by his party, outlining also its purposes. He says he and his party were warmly received wherever they stopped. They lunched with the Emperor of Japan. He spoke of the improvement of the government nila but said the political situation is not as good as it should be. The question of independence was discussed, but he says this must be postponed until another generation. The fire at Colon yesterday broke out in a building next to the residence of the Spanish Consul and soon destroyed the Phoenix Hotel, an American owned building, and two other hotels, several liquor saloons and several tenement buildings. Roweis Building, containing the postoffice, the offices of the municipality, of Governor Melendez, the port inspectors, the judiciary and other offices, together with the Treasury Building, also were burned. Nearly all the records and documents of the Government were destroyed. The burned region comprises two blocks. The American residential quarter was not touched. The sanitary authorities are erecting tents in the fire zone to shelter the homeless.


Article from The Daily Ardmoreite, September 28, 1905

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Article Text

Ohio Bank Closed. Washington, Sept: 27.-The First National Bank of Orrville, Ohio today closed its doors by order of the comptroller of the currency. A National bank examiner has been appointed recelver.


Article from The St. Louis Republic, September 28, 1905

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Article Text

OHIO NATIONAL BANK CLOSES. Orrville Institution Shut Up Because of Long Run. Washington, Sept. 27.-The First National Bank. Orrville. O., to-day closed Its doors by order of the Comptroller of the Currency. on account of a continuous run on the bank. George T. Cutta, national bank examincr. - been assointed reselver.


Article from The Norfolk Weekly News-Journal, September 29, 1905

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Article Text

Ohio Bank's Doors Closed. Washington, Sept. 28.-The First National bank of Orrville, O., closed its doors by order of the comptroller of the currency, on account of a continuous run on the bank. George T. Cutts, national bank examiner, has been appointed receiver.


Article from The Stark County Democrat, September 29, 1905

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Article Text

Run on Orrville Bank. By the closing of the bank at Smithville on Tuesday a run was started on the First National bank at Orrville and the institution was forced to close its doors yesterday. The run was probably caused by the fact that Cashier Alcearn of the Wooster bank was also a director of the defunct Smithville bank. The loss to depositors will be small.


Article from The Miller Sun, October 4, 1905

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Article Text

Closed Because of a Long Run. The First National Bank of Orrville, O., Wednesday closed its doors by order of the comptroller of the currency on account of a continuous run upon the bank.


Article from Willmar Tribune, October 4, 1905

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dreds or buildings and leaving thousands homeless. Ten persons were killed. The property loss is estimated at $500,000. The Philippine typhoon destroyed United States army posts, damaged a naval station and sunk a small gunboat. The confederate organizations of Mississippi have joined in a request for the return of two Mississippi battleflags now stored in the Colorado capitol building at Denver. Jacob Litt, the well-known theatrical manager and owner of theaters in New York, Chicago, Milwaukee and St. Paul, died in Yonkers, N.Y. Wheeler H. Peckham, the noted lawyer, died suddenly in his office on Broadway, N. Y. Apoplexy is thought to have caused his death. In a rear-end collision near Glenwood, Ind., passenger train No. 41, on the C., H. & D. R. R. crashed into a freight train. Five persons were injured, one fatally. The First national bank, Orrville, O., closed its doors by order of the comptroller of the currency, on account of a continuous run upon the bank. Fire at Roff, in the Chickasaw Nation, I. destroyed a business block in Main street. Loss estimated at more than $75,000. Announcement made that Rev. Dr. William Bayard Hale, of Richmond, Ind., has been decorated by the king of the Belgians, being a knight of the Order of Leopold. The eighth annual convention of the National Association of Postmasters opened in Dayton, O. The Subway tavern, the saloon which was opened in New York with prayer by Bishop Potter a year ago, has been closed. The owner locked up its doors, saying that the temperance salcon had not been a paying investment. A recent order of Gen. Linevitch to his army leads to the conclusion that they will spend the winter in Manchuria. Cleveland friends of John D. Rockefeller celebrated the anniversary of his advent into business life 52 years ago. The New Anglo-Japanese treaty, made public in London, shows that the alliance is very strong. The aim of the contract is declared to be the furtherance of peace in the far east, and each nation binds itself to defend the other's possessions. W. J. Bryan, in an open letter, urged President Roosevelt to "stand by his guns" in his battle for railroad rate legislation. He offered democratic help. Baron Komura, on the eve of his departure for home, said Japan's foreign policy would undergo no change. Washington plans to make the homecoming of President Roosevelt the occasion of an enthusiastic demonstration, in which men of all parties will join. The zemstvo congress in Moscow adopted a political programme demanding the broadest kind of liberty and equality for all men in Russia, and the formation of a douma which shall control government. A Cleveland grand jury indicted on a blackmail charge Mrs. Minnie Lee, of Chicago, who made charges against Gov. Herrick, of Ohio. Bruno H. Goll, one of the oldest druggists in Chicago, shot and killed himself at the Auditorium hotel. The political trouble in Cuba puts in peril $100,000,000 of American capital invested in the island. Senator Foraker denies he is fighting President Roosevelt's rate policy. Secretary Wilson returned from the west and says the reports of the enormous crop yield are not overestimated. A complete reinspection of passenger steamboats in the United States from Maine to California is planned by the secretary of commerce. John V. Streed, of Cambridge, III., prominent among Illinois SwedishAmericans, is dead of a bullet wound. and it cannot be determined how. he was slain. Secretary of the Treasury Leslie M. Shaw will leave the cabinet February 1, 1906. He makes the definite announcement in a letter to the Polk County (Iowa) Republican club. An order for 180,000 barrels of flour, to be delivered immediately, has been placed with a Seattle, Wash., flour mill by Vladivostok flour merchants. This is the largest single order ever placed on the Pacific coast. By the will of Charles Parsons, late president of a St. Louis bank, $80,000 is given for the endowment of a Martha Parsons professorship at Parsons college at Fairfield, Ia. The total estate is valued at more than $1,000,000. Five Omaha councilmen were sentenced to 30 days each in jail for contempt in trying to pass a gas franchise extension ordinance in deflance of a court order. Ex-Gov. Joseph W. Fifer, of Illinois, has announced that he will retire as interstate commerce commissioner as soon as certain important matters before the commission are settled, probably about January 1, 1906. Hog cholera and hog plague have become epidemic in the vicinity of Carthage, III., over 1,000 hogs dying in the past two weeks. Farmers are taking scientific measures to prevent the spread of the disease. Democrats and republicans opened the Ohio campaign at Newark and Bellefontaine. Foraker declared against federal regulation of railway rates. Pattison declared


Article from River Falls Journal, October 5, 1905

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Dr. Arthur Weir Johnstone, a leading specialist in abdominal surgery, died in Cincinnati, O., after a week's illness from appendicitis. Dr. Johnstone was widely known in his profession in this country and in Europe. The wreck of the British steamer Chatham, in the Suez canal, with her cargo of 90 tons of dynamite and blast. ing gelatin, was blown up by mines distributed around and inside her hull. These were fired by an electric current from Raselech, about five miles away. No serious damage was done to the canal. Edward N. Nockels, secretary of the Chicago Federation of Labor, proposes to organize professional baseball players into a union. Livingston Quackenbush of Le Sueur, Minn., was convicted of receiving money into an insolvent bank. His bank failed in March, 1904. Secretary Taft and more than 50 of the party which visited the orient have reached San Francisco. The secretary, in an interview, says the Philippines show great gains, that the Chinese beycott will fail and that Japan really is glad of peace. He declares that Filipinos are unfit for self-government, and independence cannot be rea ized for a generation to come. The prosecution won first blood in the packers' conspiracy cases in Chicago when Judge Humphrey ruled that the manner in which the grand jury proceedings were conducted is legal. Norway, says Foreign Minister Loevland in an interview to the correspondent of a Paris paper, plans to ask the powers to recognize its independence at once. An employe of a sewing machine company in New York is held for a $250,000 theft. Theodore Roosevelt, Jr., entered Harvard just 25 years after his father did. The German press is indignant over the new Anglo-Japanese treaty. Gov. Folk of Missouri has ordered the police board to close all bucket shops in St. Louis. Prominent Chinese regard last Sunday's bomb outrage as a protest against China's effort to crush the anti-American boycott. Socialists and supporters of the Hungarian coalition parties rioted in the streets of Budapest and more than 40 persons were injured. Former Gov. Yates of Illinois will not be a. candidate for the United States senatorship against Shelby M. Cullom. A. H. Linneke has been appointed receiver of the business of Johnson & Sloan, retail drygoods merchants of Minneapolis, Minn. The liabilities, it is said, will be about $200,000. Five children were burned. and asphyxiated in the fire which destroyed the home of Frederick Adamson at Fort Dodge. Ia. The confederate organizations of Mississippi have joined in a request for the return of two Mississippi battleflags now stored in the Colorado capitol building at Denver. Jacob Litt, the well-known theatrical manager and owner of theaters in New York, Chicago, Milwaukee and St. Paul, died in Yonkers, N. Y. Wheeler H. Peckham, the noted lawyer, died suddenly in his office on Broadway, N. Y. Apoplexy is thought to have caused his death. In a rear-end collision near Glenwood, Ind., passenger train No. 41, on the C., H. & D. R. R. crashed into a freight train. Five persons were injured, one fatally. The First national bank, Orrville, O., closed its doors by order of the comptroller of the currency, on account of a continuous run upon the bank. Fire at Roff, in the Chickasaw Nation, I.T., destroyed a business block in Main street. Loss estimated at more than $75,000. Announcement made that Rev. Dr. William Bayard Hale, of Richmond, Ind., has been decorated by the king of the Belgians, being a knight of the Order of Leopold. The eighth annual convention of the National Association of Postmasters opened in Dayton, 0. The Subway tavern, the saloon which was opened in New York with prayer by Bishop Potter a year ago, has been closed. The owner locked up its doors, saying that the temperance saloon had not been a paying investment. W. J. Bryan, in an open letter, urged President Roosevelt to "stand by his guns" in his battle for railroad rate legislation. He offered democratic help. Washington plans to make the homecoming of President Roosevelt the OCcasion of an enthusiastic demonstration, in which men of all parties will join. The New Anglo-Japanese treaty, made public in London, shows that the alliance is very strong. The aim of the contract is declared to be the furtherance of peace in the far east, and each nation binds itself to defend the other's possessions. Cleveland friends of John D. Rockefeller celebrated the anniversary of his advent into business life 52 years ago. Senator Foraker denies he is fighting President Roosevelt's rate policy. The political trouble in Cuba puts in peril $100,000,000 of American capital invested in the island. Ex-Gov. Joseph W. Fifer. of Illinois