17781. Exchange Bank (Versailles, OH)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 9, 1884
Location
Versailles, Ohio (40.223, -84.484)

Metadata

Model
gpt-5-mini
Short Digest
66fd84c4

Response Measures

None

Description

Multiple dispatches (dated April 9–10, 1884) report the Exchange Bank at Versailles, OH closed its doors and a receiver (B. F. Coppess / Coppess/Coppern OCR variants) was appointed with estimated loss ~$60,000 to stockholders. Articles state the bank 'has been weak for some time,' indicating insolvency rather than a rumor-driven run. Therefore classified as suspension leading to permanent closure/receivership. OCR variants of receiver's name (Coppess/Coppern) noted.

Events (2)
1. April 9, 1884 Receivership
Newspaper Excerpt
B. F. Coppess, of Greenville, Ohio, has been appointed receiver. The loss, about $60,000, will fall on the stockholders.
Source
newspapers
2. April 9, 1884 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank 'has been weak for some time' and closed due to insolvency/deficit; estimated loss about $60,000 to stockholders.
Newspaper Excerpt
The Exchange Bank closed its doors yesterday. B. F. Coppess, of Greenville, Ohio, has been appointed receiver. The loss, about $60,000, will fall on the stockholders.
Source
newspapers

Newspaper Articles (7)
1. April 9, 1884 Evening Star Washington, DC
Article from Evening Star, April 9, 1884

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Article Text

Telegrams to The Star. RESULT OF THE STORM. Telegraphic Communication with North, East and West Cut Off. BALTIMORE, April -At 6:30 o'clock this morning a slight rain was succeeded by a wild snow-sterm, which continued until noon. The wind blew from the northeast at a velocity of 20 miles an hour. The snow-storm was heavier than at any time during the winter, but the snow melted as It touched the ground About noon the violence of the storm abated. but snow continues failing at this hour (2:15.) It is impossible to learn how far the storm extends, as the telegraph lines leading in all directions from this city east, north and west, except the wires to Washington, are down, and communication is had only with that city. Bank Failure in Indiana. INDIANAPOLIS, IND., April 9.-A dispatch from Versallies, Ohio, to the Journal says: The Exchange Bank closed its doors yesterday. B. F. Coppern, of Greenville, Ohio, has been appointed receiver. The loss, about $60,000, will fall on the stockholders

2. April 9, 1884 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, April 9, 1884

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Article Text

CLOSING OF A BANK. INDIANAPOLIS, Ind., April 9.-A dispatch from Versailles, Ohio, to the Journal says: The Exchange Bank closed its doors yesterday. B. F. Coppess, of Greenville, Ohio, has been appointed receiver. The loss, about $60,000, will fall on the stockholders.

3. April 10, 1884 Savannah Morning News Savannah, GA
Article from Savannah Morning News, April 10, 1884

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Article Text

COMMERCIAL CRASHES. Another Bank Closes its Doors to the Sorrow of its Stockholders. INDIANAPOLIS, April 9.--A dispatch from Versailles, O., says: "The Exchange Bank closed its doors yesterday. B. F. Coppess, of Greenville, 0., has been appointed receiver. The loss, about $60,000, will fall on the scockholders." VERMONT'S BANK ASKS TIME. ST. ALBANS, VT., April 9.-President Sowles, of the suspended First National Bank, comes out with an open letter today, in which he says that the bank has resources to pay all depositors and save its stockholders from loss, if only permitted to continue business. THEATRE OWNERS FAIL. LONDON, April 19.-Stetson & Sons, owners of the Theatre Royal at Middlesborough, have failed. Their liabilities are estimated from £100,000 to £250,000. They have large trading stores in various towns in the north of England. A FAILURE IN LONDON. LONDON, April 9.-A. U. Gillespie & Co., merchants in the West India trade, have failed.

4. April 10, 1884 The Stark County Democrat Canton, OH
Article from The Stark County Democrat, April 10, 1884

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Article Text

WRECKED BANKS. The First National, of Monmouth, III. and Depositories to New York and Versailles, O,, Compelled to Close their Doors. MONMOUTH, III.. April 9.-The First Na. tional Bank here closed Its doors about eleven o'clock Tuesday morning, the cause being the speculations of Cashier B. T. O. Hubbard on the Board of Trade. The deficit is estimated all the way from $45,000 to $110,000. The depositors will loose nothing, as the stockholders are liable for double the amount of the capital, $75,000. a Much excitement prevails, but no run is expected when the bank opens in a day or two, as the stockholders are all moneyed men of the town. NEW YORK, April 9.-Messrs. Julius H. Hagen, Otto Witte and Allen Lexow, compriging the firm of Hagon & Billings, bankers and specio brokers, made an assignment Tuesday. Preferences were given to J. & W. Sellgman for $75,000, and to the Kansas City Smelting and Refining Company for $20,000. The firm had quite a reputation in the street. It was established in 1868, succeeding Cohn, Walter & Co. Messrs. Hagan & Billings were the company. VERSAILLES, O., April 9.-The Exchange Bank at this place closed Its doors Tuesday morning. The bank has been weak for some time. B. F. Coppess, of Greenville, O., has been appointed receiver. The loss will be about $60,000, which falls on the stockholders.

5. April 10, 1884 Daily Republican Wilmington, DE
Article from Daily Republican, April 10, 1884

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Article Text

The Closed Banks. The National Union Bank at Swantown, Vermont, was opened yesterday morning, but no money was paid to depositors. It is said that the bank now owes its depositors $52,000, and has $117,000 of good short paper to meet it. The officers are sure of the banks solvency, and of its ability to continue business. President Sowles, of the suspended first National Bank of St. Albans, Vermont, said that the bank had resources to pay all depositors and save its stockholders from loss if only permitted to continue business. He appeals to the public for assistance, and suggests a plan to sell $25,000 worth ofstock at such prices as may be fixed by Bank Examiner Hendee, the bank to be reorganized by the choice of such new officers as is deemed proper, and business resumed at once. The Exchange Bank at Versailles, Ohio, closed its doors on Tuesday, and a receiver was appointed. It is said that the loss, which is about $60,000, will fall on the stockholders. E 8 t I 1

6. April 10, 1884 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, April 10, 1884

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Article Text

Bank Failure. [Bv telegraph to the Dispatch.] INDIANAPOLIS, IND., April 9.-A dispatch from Versailles, Ohio, to the Journal says: The Exchange Bank closed its doors yesterday. B. F. Coppess, of Greenville, Ind., has been appointed receiver. Loss about $60,000, which will fall on the stockholders.

7. April 12, 1884 The Ottawa Free Trader Ottawa, IL
Article from The Ottawa Free Trader, April 12, 1884

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Article Text

BANKS WITH CLOSED DOORS. Depositories in New York City, Monmouth, III., and Versailles, o., Forced to Suspend. MONMOUTH, III,, April 9.-The First National Bank here closed its doors about eleven o'clock Tuesday morning, the cause being the speculations of Cashier B. T. O. Hubbard on the Board of Trade. The deficit is estimated all the way from $45,000 to $110,000. The depositors will loose nothing, as the stockholders are liable for double the amount of the capital, $75,000. Much excitement prevails, but no run is expected when the bank opens in a day or two, as the stockholders are all moneyed men of the town. NEW YORK, April 10.-Messrs. Julius H. Hagen, Otto Witte and Allen Lexow, comprising the firm of Hagen & Billings, bankers and specie brokers, made an assignment Tuesday. Preferences were given to J. & W. Seligman for $75,000, and to the Kansas City Smelting and Refining Company for $20,000. The firm had quite a reputation in the street. It was established in 1868, succeeding Cohn, Walter & Co. Messrs. Hagan & Billings were the company. VERSAILLES, o., April 10.-The Exchange Bank at this place closed its doors Tuesday morning. The bank has been weak for some time. B. F. Coppess, of Greenville, O., has been appointed receiver. The loss will be about $60,000, which falls on the stockholders.