Sandusky Bank - Sandusky, OH

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: August 1, 1893
Location: Sandusky, Ohio (41.449, -82.708)

Metadata

Model: gpt-5-mini
Short Digest: 05d32f8b

Response Measures

None

Description

Article (Fort Worth Gazette, 1893-08-02) reports Sandusky Bank (Sandusky, OH) suspended payment Aug 1; suspension attributed to lack of confidence and inability to convert paper to cash. Receivers were appointed, indicating permanent closure/receivership. OCR errors corrected (e.g., has suspended payment, still solvent).

Events (2)

1. August 1, 1893 Receivership

Newspaper Excerpt: Liabilities about $70,000, while its assets $90,000. Dr. R. N. McConnel and Layton have been appointed re-
Source: newspapers

2. August 1, 1893 Suspension

Cause: Rumor Or Misinformation
Cause Details: Suspension blamed on lack of confidence by depositors and inability to convert bank paper into ready cash (panic of confidence rather than disclosed insolvency).
Newspaper Excerpt: SANDUSKY BANK. ... SANDUSKY, O., Aug. 1. ... has suspended payment. The ... impression is that the bank is still solvent, its suspension being about by lack of confidence by [depositors], and the impossibility of converting its paper into ready cash.
Source: newspapers

Newspaper Articles (1)

1. August 2, 1893 Fort Worth Gazette Fort Worth, TX

Article from Fort Worth Gazette, August 2, 1893

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Article Text

SANDUSKY BANK. ER SANDUSKY, O., Aug. 1.lyandotte county bank of this as suspended payment. The matated but little excitement, as the impression is that the bank is shly solvent, its suspension being I about by lack of confidence by ors, and the impossibility of conIts paper into ready cash. Liabire about $70,000. while its assets 00.000. Dr. R. N. McConnel and Layton have been appointed re-