17843. Union Savings Bank (Yorkville, OH)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
May 1, 1926*
Location
Yorkville, Ohio (40.155, -80.710)

Metadata

Model
gpt-5-mini
Short Digest
44067661

Response Measures

None

Description

Articles (July 1926 and Jan 1927) describe the Union Savings Bank of Yorkville collapsed May 1926; appraisers and banking examiners handled assets and indictments for fraud followed. No run or depositor panic is described. Evidence indicates a failure/suspension that led to permanent closure and legal action (receivership).

Events (4)

1. May 1, 1926* Receivership
Newspaper Excerpt
Appraisers listed the fans as part of the bank assets. No one can have the fans until the banking examiners their disposal.
Source
newspapers
2. May 1, 1926* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank collapse attributed to internal malfeasance/misapplication of credits and insolvency; subsequent indictments for fraud (W. B. Francis charged with misapplying credits).
Newspaper Excerpt
The bank collapsed May. Appraisers listed the fans as part of the bank assets. No one can have the fans until the banking examiners their disposal.
Source
newspapers
3. July 22, 1926 Other
Newspaper Excerpt
Appraisers listed the fans as part of the bank assets. No one can have the fans until the banking examiners their disposal. The company heavily in the bank's failure. ... The five defendants will be raigned soon they can brought to Judge Paisley's court, was aid. This may be late today.
Source
newspapers
4. January 29, 1927 Other
Newspaper Excerpt
Yorkville (Ohio) Bank Fraud Case To Go To Jury Today. ... charged fraudulent certificate deposit by the Union Savings Bank York ville which failed last will go to the jury ... Francis ... charged with misapplying the credits of the bank.
Source
newspapers

Newspaper Articles (3)

Article from The Akron Beacon Journal, July 22, 1926

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Article Text

Suspension Of Bank Makes Heat Hotter YORKVILLE, O., July Fate has added to the discomfort employes local business during the heat wave and today they took collection to buy huge electric fan. Last fall the company stored its fans the basement the Union Savings bank. The bank collapsed May. Appraisers listed the fans as part of the bank assets. No one can have the fans until the banking examiners their disposal. The company heavily in the bank's failure. project they would recoup all losses. Francis director. Belknap no the bank and was involved he said. "because of his friendship for Francis and Helped Raise Money Belknap went Cleveland when the bank officials became pressed for money and helped them raise deposit The signed by Belknap was held by the Trust Belknap and the Joneses refused to comment their today. Ralph Cohen. counsel for the Joneses, pitiful case. have no make. Francis served eight years as con gressman from the 18th district. and one the most prominent the eastern part the state. Belknap was probate judge for years. The five defendants will be raigned soon they can brought to Judge Paisley's court, was aid. This may be late today.


Article from The Washington Herald, July 23, 1926

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Article Text

Coffee Market Close NEW YORK, July 22. -Coffee close: July, $18.70, trading: Septemwest nominal; January, $16.52. nominal; March, $16.23; May, $15.85. Total Stock Sales NEW YORK, July 22.-Stock sales on the New York Stock Ex change totaled 1,893,600 shares; bonds, $10,647,000. Chicago Grains CHICAGO, July 22.-Grains closed easier today with wheat lower; corn, lower; eats, off Wheat started down with December showing the most weakness. There was general commission house selling led by a house with Eastern connections. The market showed further losses after the opening. Reports of cooler weather and rains in the American and Canadian Northwest were the weakening factors. Weakness at Liverpool also was a factor. Estimated receipts were 130 cars. Corn opened 1@1%c lower on general commission house selling. Buying power was small, except on the extreme declines. About noon a better class of buying developed and prices Receipts were estimated at 104 cars. Oats declined %@%c on selling by cash houses. Weakness in other factor. Buying power was light. Estimated receipts were 54 cars. Close. WHEATJuly October Belgium Bolivia Republic Republic Indies Kingdom 6a Government American Industries German External Loan Japanese Norway Oriental Development Prague Tokyo Furnished W. Hibbs & Furnished Ht Mining BOON TO CITIES ington and to conduct it primarily for the purpose of gross favoritism to 10 or 15 per cent of the ST. LOUIS, July 22.-Further deAmerican people at the expense Copper of the other 85 to 90 per cent. velopment of part of St. Louis Terminal "The for agricultural as a great trade center and the relief has made vital progress in terminus of both northern and that the American farmers have finally realized very definitely southern river routes is the opthat typical Republican high timistic view that river improvetariffs, written by the manufacment enthusiasts here take of the turer, work injury rather northern extension of the United than benefit to agriculture. Instead of promoting prosperity States Government's Mississippi Allied they have wrecked it. River service. is an irreconcilable conThe installation of the Governfliet between the Eastern wing of the Republican party, dominated ment's upper Mississippi fleet of by the high tariff manufacturers, three towboats and 15 barges on and the Western Republican wing. April 1, 1927, will work great The former always controls the benefits for Missouri's agricultural entire Republican party of the and industrial interests, they say. nation and its administrations at The proposed upper Mississippi Washington. route from St. Louis to Minneapolis "Since the Fordney tariff is adand St. Paul will supplement the mittedly the seat of the farm other two existing river service disease, the manifest remedy Service lines, the Mississippi division from tariff reduction. Any other St. Louis to New Orleans and the course plays into the hands Mississippi Warrior from the high tariff manufacturers. New Orleans via Mobile to Birming East Coast Tariff reduction means lower Refrif ham. Francisco production costs and markets." Dwight F. Davis, Secretary of War and native St. Louisan, familiar with possibilities of Dairy FREIGHT CARS WAIT river transportation and its advantages the country has finally completed his plans for conducting a through river service from the Twin Cities to New Orleans, with Central YEAR'S HUGE CROP the port of St. Louis as a terminus Kresge Laclede Service for northern and southern trade. The War Department's program Rapid calls for an expenditure of $750,000 which already has been appropriated. In addition to the scheduled In spite of unusually heavy car fleet. the Edward Goltra barges, loadings, Class 1 railroads of the which were returned to the country report plenty of freight Government under decision of the United States Supreme Court, also cars available for moving Amerwill be used for river transportation. Star ica's crop to market, the American Railroad Association announced Chicago Traction Line yesterday. On July there were 239,167 sur- Brad : Spurns Union Demands plus freight cars in good repair imCHICAGO. July 22.-The Chicago mediately available for service, surface lines today refused to conwas stated. This was decrease of sider employes' demands for a 5-cent E1 640 cars from June 30. Canad Surplus coal cars in good repair hourly wage increase. totaled 265 on July 8; stock cars, The rejection capped a series of meetings extending over week and 21,687, and refrigerator cars, 14,107. Tidewater was based company officials an nounced, on the that to Former Representative grant the raise would eliminate its Indicted in Bank Crash annaul net earnings. The employes received the an STEUBENVILLE, Ohio, July 22. nounced without comment. Former Democratic Representa Subsidiaries Rubber W. B. Francis. who served from 600,000 Pounds of Yarn the Eighteenth Ohio congressional district for eight years, was among To Be Purchased by U.S. five persons indicted by the Jefferson county grand jury today Authorization for the purchase of in with the $1,000,000 600,000 pounds of white yarn for failure on 15 of the Union use in the Atlanta penitentiary texSavings Trust Company, at tile mill was made by Attorney GenForeign Bonds Yorkville, Ohio. eral Sargent yesterday. Francis was charged with mis- The yarn will be used in the applying the credits of the bank. of to be furnished the Postoffice and Navy departments. 1st THE WEATHER Antio Elec Con Mun Loan Foreign Bonds Cons Bordeaux City FORECAST FOR TODAY TOMORROW Belgium For the District of Columbia and Pub Util partly (Fried) this morning: cooler possibly fair showers with Tietz moderate temperature; gentle to moder- Mansfield north and northeast Medellin For Virginia- Mostly winds. cloudy and Buenos cooler, probably showers and thunder- Buenos storms today: tomorrow fair Buenos moderate temperature shiftwinds, becoming north and north- Saxon Pub LOCAL TEMPERATURES Swiss Confed Midnight 12 noon Wks Wks 88% Industrial 103: Ala So 124 Ry Rainfall none. Albert Hours of Am Per cent of possible sunshine, 84. Leath TIDES Amer Elec ofts High tide, 6:02 a.m. and 6:32 Gas Low tide. a.m. and is the peak season for accidents. Sun rises, 7:28 rises. 6:19 m.; sets, 3:09 a.m. Lt Tract RIVER CONDITIONS Lt. Potomac clear and Shenandoah River Harpers FLYING WEATHER FORECAST Seating of Long Island, N. some Cloudy risk local showers cloudy or sky thunder today this is sound advice. storms moderate northerly up 1,000 feet fresh or north. at feet. Washington to Norfolk, Va.-Mostly Balab Katz cloudy with local Bancitaly today; gentle moderate shifting winds, becoming northerly up to 1,000 feet and fresh west southwest to west Corp.. feet. Washington Dayton, Ohio-Partly cloudy sky today: slight risk of local showers or Friday Truck Ing over the mountains: Burdiness (Am.) Co northerly winds up 1,000 feet moderate west northwest and northAle Chicago Stocks OTHER TEMPERATURES Furnished by B. Hibbs Co.) Highest RainC. Co of Del pfd Atlanta Ga. Armour & Atlantic City Armour & Com Md. Com Armour Armour & Co. Leath. Com Beaver Board Pfd. Beck City Ry Com Ry Title City Trust-Co. Cheyenne, 136 Edison Ohio Cont. Motors M Consumers Iowa Foreign Exchange Consumers pfd. Diamond Match Furnished by W. B. Fair Com Fair pfd. English pound Gossard Great Lakes Dredge Belgian franc. amination necessary. Hupp Motors pf Illinois Brick Swedish krone Kraft Libby Cheese McNaill & Libby krone McCord Rad Can Mid West Com Franklin Mfg Spanish pseta. West Foundation florin West Pr. Lien Austrian Baking Montgomery Midland Steel Ward Pfd. Baking Hungarian National Finnish mark Winter Front Razor North Neb. Serv Corp $100 Pa Serv cent the life insurance policy desired. Candy Far East Quaker Oats Com. Happiness Quaker Oats Pfd. Hazeltine Real Silk Hard Utah. Motors rupee Swift Co. Louis, Yokohama Swift South America Stewart John Thompson Kruskal Carbide Jypsum Uruguay Wrigley Co York funds Montreal Yellow @ Montreal Yellow


Article from The Cincinnati Enquirer, January 29, 1927

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Article Text

FRANCIS NEAR JUDGMENT. Yorkville (Ohio) Bank Fraud Case To Go To Jury Today. of William B. Martin's former Judge charged fraudulent certificate deposit by the Union Savings Bank York ville which failed last will go to the jury Only the ing argument for the prosecution Roy N. ing the for the the only Francis and with the would carry 30 years in prison fine of $10.both assailed the chief Thomas Steuben attorney and Vice President of the turned evidence after pleading guilty of Francis and State Joseph by the Attorney the will the state tomorrow