Peoples Bank - New Paris, OH

Episode Information

Episode UID: 3677205491302
Episode Type: Suspension → Closure
Bank Type: private
Bank ID: 367720549 hash
Start Date: June 26, 1908
Location: New Paris, Ohio (39.857, -84.793)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: fefdb2d1ff1feb07

Response Measures

None

Description

Suspension due to proprietor's death and bank business taken over by newly organized First National.

Events (1)

1. June 26, 1908 Suspension

Cause: Voluntary Liquidation
Cause Details: Closed temporarily to close up the Peelle estate following the proprietor's death; business taken over by the new First National Bank.
Newspaper Excerpt: the People's bank, which will suspend business operations owing to the death of the proprietor, Albert Peelle.
Source: newspapers

Newspaper Articles (1)

1. June 26, 1908 The Richmond Palladium and Sun-Telegram Richmond, IN

Article from The Richmond Palladium and Sun-Telegram, June 26, 1908

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Article Text

NEW PARIS GETS NATIONAL BANK Stockholders of New Concern Held Meeting There Yesterday. S. W. GAAR IS PRESIDENT. ELECTED FOLLOWING THE SELECTION OF BOARD OF DIRECTORS-NEW PARIS IS PROUD OF INSTITUTION. Yesterday the First National bank of New Paris, O., was organized with a capital stock of $25,000. Samuel W. Gaar of Richmond was elected president of the new financial institution, which takes up the business of the People's bank, which with suspend business operations owing to the death of the proprietor, Albert Peelle. This action was made necessary to close up the Peelle estate. The new banking institution will shortly throw open its doors for business and it is anticipated that to start with there will be between $65,000 and $100,000 placed on deposit. The majority of the stockholders are men living in New Paris or vicinity. Some of the stockholders are residents of Eaton and Richmond. Among the out of town stockholders are Daniel G. Reid of New York, George H. Eggemeyer and John B. Dougan of this city. All told there are about forty stockholders. At a meeting of the stockhoders yesterday the following board of directors for the ensuing year were elected: S. W. Gaar. Richmond: C. A. Hawley, New Paris; C. M. Benson, New Paris; Ellwood Coblentz, New Paris; G. L. Lyne, New Paris: C. W. Bloom, New Paris and M. L. Pence, New Paris. After the election of directors the following officers were elected. President-S. W. Gaar. Vice President-C. A. Hawley. Cashier-M. H. Pence. New Paris and vicinity is one of the most prosperous agricultural districts in the middle west and it is anticipated that the new institution will be a most successful business venture. The residents of New Paris are quite proud of the fact that there will be a national bank located in their community.