Marion Savings Bank (Marion, OH)

Episode Information

Episode UID
56017771595
Episode Type
Suspension โ†’ Closure
Bank Type
savings
Bank ID
5601777 routing
Routing Number
56-0177
Start Date
November 8, 1932
Location
Marion, Ohio (40.589, -83.129)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
81f5c939675f25d5

Response Measures

None

Description

Receiver and state banking department are liquidating the bank; no run is described.

Events (3)

1. November 8, 1932 Suspension
Cause
Government Action
Cause Details
State banking department placed the Marion Savings Bank in liquidation and a receiver was administering assets.
Newspaper Excerpt
liquidating assets of the charge Marion Savings bank, has authorized by Judge George Scofield court borrow $20,500
Source
newspapers
2. November 28, 1932 Receivership
Newspaper Excerpt
Marion-Marion Savings Bank company (receiver), $20,500 per ator cent): ... Marion Savings Bank company (receiver) $20,500; ... reported as receiving loans included: ... Marion-Marion Savings Bank Company (receiver) $20,500; (RFC loan list).
Source
newspapers
3. May 16, 1933 Other
Newspaper Excerpt
Fulton, superintendent of banks in charge of the liquidation of assets of the Marion Savings bank, seeks judgment for common pleas court action against John Brugger and others Fulton is represented by the firm of Carhart, Warner & Carhart.
Source
newspapers

Newspaper Articles (4)

Article from The Marion Star, November 8, 1932

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Article Text

BANK RECEIVER TO ASK Administrator To Request $20,500 from R. F. C. for Marion Savings Dividend. Don representative the state banking department liquidating assets of the charge Marion Savings bank, has authorized by Judge George Scofield court borrow $20,500 from the tion and to cent dividend to an eight positors and general creditors bank. The bank previously paid 10 per cent dividend. Lusk today said that the applica tion for the loan must go through procedure before the loan be obtained The dividend until the loan has been be paid which several obtained, weeks from he said Financial obtain loans from the Finance corporation by furnishing in the form assets which security sound but which are not


Article from The Dayton Herald, November 28, 1932

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Article Text

LOANS BY FEDERAL CORPORATION NEAR $55,000,000 (Concluded from Page One) relief purposes, were made of railroads including the Chicago and Northwestern and the Erie. The Chicago and Northwestern received $12,461,350; the Erie, $6,170,000; the Baltimore and Ohio the Lehigh Valley each received $3,000,000; the New York, New Haven and Hartford, $700,000 the Chicago and Eastern Illinois $338,the Pittsburgh and West Virand the Copper LOAN OF MILLION The largest bank loan the Peoples American State bank of Sandusky, Mich. Most the other bank loans were small, the highest were in the neighborhood of $300,000. or the eight insurance loans, the largest, $380,000 was to the Columbian Mutual Life Insurance company of Memphis, Tenn. The largest mortgage company loan was 900,000 for the Western Loan and Investment company of Boise, Ida The New York Title and Mortgage company of New York City, received $1,000,000. Only three state relief loans ing the month totaled more than $1,000,000; Illinois receiving the largest advance, $6,303,150. BANK LOANS. Loans to banks included: Arkansas: Hot the Arkansas National Bank of Hot Springs, $98,990; Community Bank Trust Co. (receiver), the ern County Ontario, the First National Bank of Ontario. San Gabriel the First National Bank of San Gabriel, 000. Trust Co., $100,000; New Haven, the Community Bank & Trust Co., Idaho: Idaho Falls, Anderson Bros. bank, Twin Falls, the First National Bank of Twin Falls (receiver), per cent) Illinois: Bloomington, First tional Bank Trust Co. of Bloomington, $58,000: Chicago, East Trust & Savings bank. wood Park Trust Savings bank, $11,500; Chicago Heights, the Citizens National Bank of Chicago Heights. $18,000; the State National Bank of Peru, $50,534.85; Quincy State Savings Loan Trust Co., $42,000; Waukegan, Waukegan National bank (receiver), $300,000 per cent): West Chicago, State Trust & Savings bank $34,261.11. Indiana Elwood, Elwood State bank, $20,000; Gary, the First tional Bank of Gary (receiver) 000 per cent): the National Bank of America at Gary (receiver) $105,000 per Noblesville, Citizens State bank, South Bend, the Joseph Loan Trust company $42,500. BANK GETS $50,000 Iowa Des Moines, Home Savings bank, $50,000; Perry the Clay County National bank, Kentucky: Henderson, Ohio Valley Banking Trust Co., $306,000. Louisiana: Hammond. Hammond State Bank Trust Co., $200,000; Lake Charles, Calcasieu National bank in Lake Charles, $250,000. Maine: Portland, Casco Mercantile Trust Co., $482,000; Van Buren, the First National Bank of Van Buren, $29,000 Maryland: Thurmont, the Thurmont bank, $150,000. Michigan: Detroit, Union Guardian Trust $400,000; Grand Rapids. Grand Rapids ings bank, $250,000, $250,000, $250,000 (three loans): Hamtramek ples Wayne County Bank of Hamtramck. $469,975; Highland Park, Highland Park Trust company, $105,000; Lansing, the Capital tional Bank of Lansing, $325,000; Saginaw, Peoples American State bank. GETS TWO LOANS. Missouri: St. Louis, Hodiamont bank (two loans), $95,000 (x) and the $13,000; Laclede Trust company, $150,000; Scruggs Vandervoort Barney bank, $130,000. cast Nebraska: Columbus, Farmers State bank, New Jersey: Hoboken, Hoboken every Trust company, $125,000 (repaid full): Paterson. Labor National Bank of Paterson, $50,000; West Scores New York, the First National bank, phone $195,000 West Paterson, the Westside National Bank of West Ohio: Akron, Commercial Bank and Trust company, $346,509.78 Elyria, the Elyria Savings and Trust company, $144,000; Lorain. the City Bank company, $59,500, and the rain Banking company, $70,000; Marion. Marion Savings Bank company (receiver), $20,500 per ator cent): Massillon, Ohio-Merchants Trust Company of Massillon. $210.Sandusky, the Commercial Bank and Trust Com any of Sandusky, $53,500 and $8,500 (two loans): Springfield, the LagondaCitizens National bank, $200,000. Oregon: Albany, the First Na- turn tional bank, $34,500; The Dalles, the


Article from News Journal, November 29, 1932

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Article Text

OHIO RECEIVES FEDERAL FUNDS IN LAST MONTH Report of Reconstruction Corporation Reveals Loans in State WASHINGTON, Nov. 29-(AP)Ohio cities, counties and financial institutions shared in funds distributed by the Reconstruction Finance Corporation, it was revealed in the monthly report of the corporation sent to South Trimble, clerk of the House of Representatives. Among loans to cities authorized for water works was listed one to Financial institutinos in Ohio re- ported as receiving loans included: East Palestine Union Commercial and Savings Bank, $7,500; Elyria-Elyria Savings and Trust Co., $144,000; Hamilton-First National Bank and Trust Company, $200,000; Lorain-City Bank Company, $59,500; Lorain-Lorain-Lorain Banking Company, $70,000; Marion-Marion Savings Bank Company (receiver) $20,500; Massillon-Merchants Trust Company of Massillon, $210,000; Trust and Savings Bank, of Middletown, $69,000. Building and loan associations: Warren-Warren Savings and Loan Association, $250,000.


Article from The Marion Star, May 16, 1933

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Article Text

RECEIVER NAMED IN PASS BOOK ACTION Mrs. Edna Bodiey Kennedy of Marion has filed suit in common pleas against Jones, receiver for the Marion National bank, to recover Citizens' Building Loan Co. deposit book which according to the petition, assigned to Mr Jones without any consideration return The deposit account the loan company showed balance of $1,632.15 when she assigned according to the petition. She seeks amounts that also recover the receiver for the loan company given the Marion might have National bank receiver on the account. attorney this Mrs. Kennedy's morning explained that she had been induced assign the deposit account as additional security National bank loan held by Marion her father. She represented by the law firm of Jacoby & Jacoby, Asks Judgment Fulton, superintendent of banks in charge of the liquidation of assets of the Marion Savings bank, seeks judgment for common pleas court action against John Brugger and others Fulton is represented by the firm of Carhart, Warner & Carhart.