Sowers & White (Ovid, MI)

Episode Information

Episode UID
2362818191015
Episode Type
Suspension โ†’ Closure
Bank Type
trust
Bank ID
236281819 hash
Start Date
July 17, 1884
Location
Ovid, Michigan (43.006, -84.372)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
7b6cb918e201c355

Response Measures

None

Events (1)

1. July 17, 1884 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Firm described as insolvent; closed doors and reported insolvent in multiple dispatches.
Newspaper Excerpt
Sowers & White, the leading banking firm of Ovid, closed their doors this morning.
Source
newspapers

Newspaper Articles (4)

Article from New-York Tribune, July 18, 1884

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Article Text

THE TROUBLES OF BUSINESS MEN, INDIANAPOLIS, July 17. - The officers of the Pendleton Banking Company. of Pendletoa, In d., deny that they have failed. The business was suspended a few hours yesterday for the purpose of a consultation with depositors. The bank was opened this morning and business is proceeding as usual. DETROIT, July 17. Sowers & White, the leading banklag firm of Ovid, closed their doors this morning. MEXICO, via Galveston, July 17.-Maximino de la Loza, the owner of nime drug stores, failed yesterday. His liar bilities are $275,000. PETERSBURG, July 17.-The store of Patterson, Madison & Co., one of the largest wholesale grocery firms of this city, which was closed last week by order of the United States Court, at the instance of Fink Bros. & Co., of Baltimore, was reopeued to-day. Matters have been compromised and the case taken out of court.


Article from Richmond Dispatch, July 18, 1884

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Article Text

Business Embarrassments. [By telegraph to the Dispatch.] NEW YORK, July 17.-Julian White, Sons & Co., 56 Leodard street, who accommodated Edmund Yard, Jr., & Co. with notes, have assigned to Ed. O. Walbridge, giving preferences to a large amount, including all sums due by them on notes or for merchandise. INDIANAPOLIS, IND., July 17.-The officers of the Pendleton Banking Company, Pendieton, Ind., deny that they have failed. The business was suspended a few hours yesterday for the purpose of consultation with depositors. The bank opened this morning, and business is proceeding as usual. DETROIT, July 17.-Sowers & White, a leading banking firm of Ovid, closed their doors this morning. No statement has been made.


Article from The Iowa Plain Dealer, July 24, 1884

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Article Text

WESTERN. According to reports from the various counties of California the loss caused by the June rains will aggregate 135,000 tons of wheat, amounting to 71/2 per cent. of the entire crop, and 600,000 tons of barley, or about 12 per cent. of the crop. A large portion of the grain is lodged, and the harvesting will therefore be expensive. J. Armsby & Co., of Chicago, in canned goods, who havebeen doing a business of three to nine millions a year, have failed for about $300,000. The private banking house of Fletchor & Sharpe, at Indianapolis, suspended payment last week, and made an assignment to William Wallace, who gave bond in $500,000. The failure caused quite a run on other banking houses. The suspension is said to be due to large advances on grain and pork paper, on which currency could not be obtained. Assurance is given that the assets are ample to meet all claims by depositors. The boiler in Carter's saw-mill in Monroe County, Ind., exploded, killing three men and fatally injuring four others. Dawson Brothers, manufacturers of mill machinery at Wilmington, Del., have failed for $60,000, and the senior member of the firm has absconded. The wife of William Scholes, a wealthy cattle dealer at Bettsville, Ohio, fled with the hired man, Eugene Eldridge, in her husband's absence, and the latter, upon his return home, found the decomposing body of an infant in his deserted house. Hiram Campbell & Sons, who own the Mount Vernon and Sarah furnaces at Ironton, Ohio, have suspended payment, with liabilities of $300,000. By the capsizing of a rowboat on the Illinois River at Henry, 111., Rev. L. O. Thompson, the Presbyterian clergyman at that place, his son, a boy of 14, and a son of Dr. Bishop, of Medina, N. Y., who was on a visit to them. were drowned. The first car-load of beer ever sent east from California was shipped last week from San Francisco to Chicago. Rev. Dr. E. N. Potter, President of Hobart College, has declined the Bishoprie of Nebraska. to which he was recently elected. Reports have reached Ottawa, Ont., that foot-and-mouth disease prevails among cattle at Helena, M. T., and an investigation will be made. The members of the wrecked banking firm of Fletcher & Sharpe, of Indianapolis, have deedel all their real-estate to a trustee for the benefit of creditors. their wives joining in the conveyances. Lair, one of the men on trial at Grand Forks, D. T., for the murder of the Ward boys, has been acquitted, the verdict causing much excitement. One of the jurymen has been arrested, charged with perjury. in that be went into the case determined that the prisoner was not guilty. Sowers & White, bankers at Ovid, Mich., are insolvent. W. F. Burget, saw-mill proprietor near Delphi, Ind., has failed for $10,000. Thomas Brigham, a farmer near Whitewater, Wis., went to the pantry at night for a lunch. He mistook for custard a plate of poison prepared for rats, and died ic great agony within an hour. Mrs. Harry Culver, of Bay City, Mich., locked up her young son for disobedience. Finding some matches in the room, he set fire to the bed and was smothered. It is feared that the mother will die from grief. Mr. Shewell's new drama, "Shadows of a Great City," which had its first representation at McVicker's Theater. Chicago, last week, has made a great bit. The story is, as they say of certain covels, one of "love and crime," the lover being, of course, accused of the crime, but coming out vindicated in the end. It introduces the auditor to many of the celebrated places in and about New York City, showing them only so far realized as is necessary for stage purposes. While the play is an exceptionally strong one, its moral atmosphere is pure, and it is absolutely free from objectionable language. A Helena (Montana) dispatch says that five horse-thieves, whose names are unknown, were hanged near Rocky Point, on the Missouri River, by a band of cow. boys, organized for the purpose of clearing out the thleves infesting that section. Thirty-two stolen horses were recovered. This makes a total of thirteen horse-thieves hanged and shot in the Judith and Muscle shell section within the past three weeks. Two blocks in the business district of Cedar Springs, Mich., burned during the prevalence of a high wind. Two hotels, the railroad depot, Johnson & Link's mill, and fully two-thirds of the residences are among the structures destroyed. Three men and a boy perished in the flames. 1 The St. Louis Hot-pressed Nut and Bolt Manufacturing Company, William H. Stone President, has made an assignment. Liabilities, $50,000; assets, $70,000. The private banking-house of A. & J. C. S. Harrison, at Indianapolis, suspended last week, and by order of the local court was placed in the hands of the Sheriff. The liabilities are estimated at $500,000, and the depositors number from 300 to 400. A dispatch from Helena, Mont., says that Belknap, the famous entrepot to the Coeur Alene mines, has been destroyed by fire. Only five houses and the denot building


Article from The True Northerner, July 24, 1884

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Article Text

# WESTERN. The failure is announced of Buford & Co., extensive plow manufacturers of Rock Island, Ill. The small mission town of San Jose, Cal., was almost totally destroyed by fire. The loss is $50,000 and the insurance small. When water was exhausted, claret was used to extinguish the flames and prevent the destruction of the old mission church. The Masonic Grand Lodge laid the corner-stone of Nebraska's new Capitol, at Lincoln, last week. According to reports from the various counties of California the loss caused by the June rains will aggregate 135,000 tons of wheat, amounting to 7ยฝ per cent. of the entire crop, and 600,000 tons of barley, or about 12 per cent. of the crop. A large portion of the grain is lodged, and the harvesting will therefore be expensive. J. K. Armsby & Co., of Chieago, dealers in canned goods, who have been doing a business of three to nine millions a year, have failed for about $300,000. The boiler in Carter's saw-mill in Monroe County, Ind., exploded, killing three men and fatally injuring four others. The private banking house of Fletcher & Sharpe, at Indianapolis, suspended payment last week, and made an assignment to William Wallace, who gave bond in $500,000. The failure caused quite a run on other banking houses. The suspension is said to be due to large advances on grain and pork paper, on which currency could not be obtained. Assurance is given that the assets are ample to meet all claims by depositors. Dawson Brothers, manufacturers of mill machinery at Wilmington, Del., have failed for $60,000, and the senior member of the firm has absconded. The wife of William Scholes, a wealthy cattle dealer at Bettsville, Ohio, fled with the hired man, Eugene Eldridge, in her husband's absence, and the latter, upon his return home, found the decomposing body of an infant in his deserted house. Hiram Campbell & Sons, who own the Mount Vernon and Sarah furnaces at Ironton, Ohio, have suspended payment, with liabilities of $300,000. By the capsizing of a rowboat on the Illinois River at Henry, Ill., Rev. L. O. Thompson, the Presbyterian clergyman at that place, his son, a boy of 14, and a son of Dr. Bishop, of Medina, N. Y., who was on a visit to them, were drowned. The first car-load of beer ever sent east from California was shipped last week from San Franeasco to Chicago. Rev. Dr. E. N. Potter, President of Hobart College, has declined the Bishopric of Nebraska, to which he was recently elected. Reports have reached Ottawa, Ont., that foot-and-mouth disease prevails among cattle at Helena, M. T., and an investigation will be made. The members of the wrecked banking firm of Fletcher & Sharpe, of Indianapolis, have deeded all their real-estate to a trustee for the benefit of creditors, their wives joining in the conveyances. Lair, one of the men on trial at Grand Forks, D. T., for the murder of the Ward boys, has been acquitted, the verdict causing much excitement. One of the jurymen has been arrested, charged with perjury, in that he went into the case determined that the prisoner was not guilty. Sowers & White, bankers at Ovid, Mich., are insolvent. W. F. Burget, saw-mill proprietor near Delphi, Ind., has failed for $10,000. Thomas Brigham, a farmer near Whitewater, Wis., went to the pantry at night for a lunch. He mistook for custard a plate of poison prepared for rats, and died in great agony within an hour. Mr. Sheweli's new drama, "Shadows of a Great City," which had its first representation at MeVicker's Theater, Chicago,