Ohio Savings Bank & Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: *
Location: Toledo, Ohio (41.664, -83.555)

Metadata

Model: gpt-5-mini
Short Digest: 1170446d

Response Measures

None

Description

Article reports the American Bank (described as a state bank) was forced to close/failed to open because its reserves were tied up in two banks that suspended operations. No explicit standalone depositor run on the American Bank is described, so this is classified as a suspension (closure) caused by problems at other local banks. The article dateline reads Toledo, O., Aug. 17 but the newspaper publication date is March 7, 1930; the exact event year/day is not given here, so event date is left null.

Events (1)

1. * Suspension

Cause: Local Banks
Cause Details: American Bank forced to close because its reserves were tied up in two other Toledo banks that suspended operations.
Newspaper Excerpt: Late directors announced closing of the Commerce Guardian Trust Savings bank, the Ohio Savings Bank & Trust Co. and the Commercial Savings Bank & Trust Yesterday, in the wake of these word from directors of the fourth institution, the American bank. state bank, that would be forced to close its doors also because its reserves were tied up in two of the banks suspending operations.
Source: newspapers

Newspaper Articles (1)

1. March 7, 1930 The Charlotte News Charlotte, NC

Article from The Charlotte News, March 7, 1930

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Article Text

BANKS' OVER BY STATE Institutions at Toledo Remain Closed Today; Are Prepared for Emergency. Toledo, O., Aug. 17.-(P) Four Toledo banks with combined resources of more than $100,000,000 failed to open for business this morning, while 11 saving associations ceased payments of deposits during the present financial situation. accordance with the request of directors the four institutions, the state banking department prepared take over their affairs to conserve assets in the face of previous steady withdrawals by depositors. City police and detectives, acting under orders of Police Chief Louis Haas, patroled the banking districts in preparation for any public emerMeanwhile, there was pending meeting between Mayor W. Jackson and Adjutant Frank D. the Ohio national guard. Last night, Mayor Safety Director A. Black and Col. Golson Light. commanding the 148th infantry, Ohio guard. More than 100 rural bankers of northeastern Ohio. who met yesterday with Superintendent Banks Fulton and Charles Saffin, attorney for state department, had their assurance of cooperation by state authorities in meeting local problems. Late directors announced closing of the Commerce Guardian Trust Savings bank, the Ohio Savings Bank & Trust Co. and the Commercial Savings Bank & Trust Yesterday, in the wake of these word from directors of the fourth institution, the American bank. state bank, that would be forced to close its doors also because its reserves were tied up in two of the banks suspending operations. was that conferences relative to reorganization may be started within a week days In a new method for treating facial palsy the cure no effect on connected associated muscles not of the face.