Sturges Bank (Mansfield, OH)

Episode Information

Episode UID
5963652691219
Episode Type
Suspension โ†’ Closure
Bank Type
private
Bank ID
596365269 hash
Start Date
July 3, 1901
Location
Mansfield, Ohio (40.758, -82.515)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a07be3a502699e23

Response Measures

None

Events (2)

1. July 3, 1901 Receivership
Newspaper Excerpt
The Sturges bank failed to open its doors today, and is now in the hands of a receiver.
Source
newspapers
2. July 3, 1901 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Owner filed a deed of assignment (insolvency/assignment by owner Willis/William M. Sturges).
Newspaper Excerpt
The Sturges bank failed to open its doors today and is in the hands of a receiver.
Source
newspapers

Newspaper Articles (20)

Article from Evening Times-Republican, July 3, 1901

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Article Text

STURGES BANK CLOSED. An Ohio Financial Institution Goes to the Wall. Mansfeld, O., July 3.-Sturges Bank here closed its doors this morning when its owner filed a deed of assignment. Sturges, owner, is reputed to be worth 150,000. He held a controlling interest in the Mansfield Machine Worke, capitalized at three hundred thousand, which went in the hands of a receiver today. Sturges was a close business friend of the late John Sherman.


Article from Rock Island Argus, July 3, 1901

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BANK AND FACTORY FAIL AT MANSFIELD. Mansfield, Ohio, July| 3 -Sturges' bank here closed its doors this morning, when its owner filed a deed of Sturges, the owner, assignment. was reputed to Abe worth $150,000. He held a controlling interest in the Mansfield Machine works, capitalized at $300,000, which went into the bands of a receiver today. Sturges was a close business friend of the late John Sherman.


Article from The Topeka State Journal, July 3, 1901

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STURGES BANK FAILS. Owner Was an Old Friend of Senator John Sherman. Mansfield, O., July 3.-The Sturges bank here closed its doors today, when its owner filed a deed of assignment to Howard B. Dirlam, an attorney. The bank was a private concern. Sturges was reputed to be worth $150,000. He owns considerable real estate, lumber works and a controlling interests in the Mansfield Machine works, a large concern capitalized at $300,000. The assets and liabilities have not been given out. Later in the day A. Peck was appointed receiver for the Mansfield Machine works. Mr. Sturges was a close business friend of the late John Sherman.


Article from The Indianapolis Journal, July 4, 1901

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FAILURES AT MANSFIELD RECEIVER APPOINTED FOR PRIVATE BANK OF W. M. STURGES. Assignment of the Owner and a Receiver Named for Machine Works -Sherman Estate Affected. MANSFIELD, O., July 3.-The Sturges Bank failed to open its doors to-day and is in the hands of a receiver. The closing of this bank was followed by the assignment of Willis M. Sturges, owner of the bank, and by the appointment of a receiver for the Mansfield machine works, capital $300,000, that were controlled by Sturges and his associates. The Sturges Bank was a private institution. Its depositors were mostly grain men and farmers. It paid interest on deposits from the time money was received. None of the other banks here will be affected. Willis W. Sturges is interested in numerous enterprises. He was a breeder of fine cattle, giving a great deal of his time to that matter. He owns lumber works, a coalyard and a large stock farm. He owns valuable property in the city and was engaged in building a number of new houses in the south part of the city. H. B. Dirlam began work as the assignee of Mr. Sturges this afternoon. Mr. Sturges filed suit against the Mansfield machine works to assess the stockholders. This concern also went into the hands of a receiver to-day, A. A. Peck, president of the company, being appointed receiver. His bond was fixed at $60,000. He was given authority to continue the plant which employs several hundred men. Its capital is $300,000. Mr. Sturges owned $82,800 of stock in this concern and was an indorser for over $50,000 of its paper. Other heavy stockholders are John A. Sturges, Mary D. Sturges, A. A. Peck and A. A. Peck, guardian. There is a large number of small stockholders, among them being the late John Sherman, whose estate still holds a few shares. The machine works has not paid any dividends for five years. There have not been any additional fallures, but claims are being put in by creditors. No schedule has been filed as yet, and no statement has been made of assets and liabilities. Other banks of the city claim the failure of Willis M. Sturges has been expected for months, though to the general public it was a great surprise.


Article from The Daily Morning Journal and Courier, July 4, 1901

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Ohio Bank Falls. Mansfield, O., July 3.-Sturges' bank, a private institution, closed its doors to-day, following the filing of a deed of assignment by Banker Sturges to Attorney H. B. Dirlam. Sturges owned lumber works, real estate and a controlling interest in the Manefield Machine Works, the latter capitalized at $500,000. This afternoon A. Peck was appointed receiver for the Mansfield Machine Works. Sturges was a close friend of the late John Sherman. No statement of the bank's affairs has yet been made.


Article from The Houston Daily Post, July 4, 1901

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AN OHIO FAILURE. Bank and Machine Works in Hands of Receivers. Manafield, Ohio, July 3.-The Sturges bank failed to open its doors today and is in the hands of a receiver. The closinz of this bank was followed by the assigument of Wm. M. Sturges, owner of the bank, and by the appointment of a receiver for the Mansfield Machine work, capitalized at $300,000, and controlled by Sturges and his associates. The Sturges bank was a private Institution. Its depositors were mostly grain men and farmers. It paid interest on deposits of money from the time It was received. Wm. Sturges was interested in numerous enterprises.


Article from The Montgomery Advertiser, July 4, 1901

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AN OHIO BANK FAILS PRIVATE INSTITUTION OPERATED AT MANSFIELD. Closing of the Bank Followed By the Assignment of W. M. Sturges Its Owner, and the Mansfield Machine Works. Mansfield. O., July 3.-The Sturges Bank failed to open its doors today, and is in the hands of a receiver. The closing of this bank was followed by the assignment of William M. Sturges, owner of the bank, and by the appointment of a receiver for the Mansfield Machine Works, capital $300,000, which were controlled by Sturges and his associates. The Sturges Bank was a private institution. Its depositors were mostly grain men and farmers. None of the other banks will be affected. William M. Sturges is interested in numerous enterprises. He is a breeder of fine cattle. giving a great deal of his time to that matter. He owns lumber works, a coal yard and a large stock farm. He owns valuable property here, and was engaged in building a number of houses in the south part of the city. H. B. Dirlam began work as the assignee of Mr. Sturges this afternoon. Mr. Sturges filed suit against the Mansfield Machine Works to assess the stockholders. This concern also went into the hands of a receiver today, A. A. Peck, President of the company, being appointed receiver. His bond was fixed at $50,000. He was given authority "to continue running the plant, which employes several hundred men. Its capital is $300,000. Mr. Starges owned $82,500 of stock in this concern and was an indorser for over $50,000 of its paper. Other heavy stockholders are John E. Sturges, Mary D. Sturges, A. A. Peck and A. A. Peck, guardian. There is a large number of stockholders. among them being the late John Sherman. whose estate still holds a few shares. The machine works have not paid any dividends for five years. There have not been any additional failures, but claims are being put in by creditors. No schedule has been filed as yet, and no statement has been made of assets and liabilities. Other banks of the city claim the failure of William Sturges had been expected for months, though to the general public it was a great surprise.


Article from The Age-Herald, July 4, 1901

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THE STURGES BANK CLOSES ITS DOORS The Suspension Was followed by Assignment of Mansfield Machine Works Mansfield, O., July 3.-The Sturges Bank failed to open its doors today and is in the hands of a receiver. The closing of this bank was followed by an assignment of William M. Sturges, owner of the bank, and by the appointment of a receiver for the Mansfield Machine Works, capital $300,000, that were controlled by Sturges and his associates. The bank was a private institution. Its depositors were mostly grain men and farmers. It paid interest on deposits from the time money was received. None of the other banks here will be affected. William M. Sturges is interested in numerous enterprises. He was a breeder of fine cattle, giving a great deal of his time to that matter. He owns lumber works, a coal yard and a large stock farm. He owns valuable property in this city and was engaged in building a number of new houses in the southern part of the city. H. B. Dirlam began work as the assignee of Mr. Sturges this afternoon. Mr. Sturges filed suit against the Mansfield Machine Works to assess the stockholders. This concern also went into the hands of a receiver today, A. A. Peck, president of the company, being appointed receiver. His bond was fixed at $50,000. He was given authority to continue running the plant, which employs several hundred men. Its capital is $300,000. Mr. Sturges owned $82,000 of stock in this concern and was an indorser for over $50,000 of its paper. Other heavy stockholders are John E. Sturges, Mary D. Sturges, A. A. Peck and A. A. Peck, guardian. There is a large number of stockholders, among them being the late John Sherman, whose estate still holds a few shares. The machine works have not paid any dividends for five years. There have not been any additional failures, but claims are being put in by creditors. No schedule has been filed as yet and no statement av: been made of assets and liabilities. Other banks of the city claim the failure of Willis Sturges has been expected for months though to the general public it was a great surprise.


Article from The Saint Paul Globe, July 4, 1901

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Article Text

MANSFIELD BANK FAILS SUSPENSION FOLLOWED BY TWO OTHER ASSIGNMENTS, MANSFIELD, Ohio, July 3.-The Sturges bank failed to open its doors today, and is now in the hands of a receiver. The closing of the bank was followed by the assignment of Willis Sturges, owner of the bank, and the appointment of a receiver for the Mansfield Machine works, controlled by Mr. Sturges and his associates. The Sturges bank was a private institu. tion. Its depositors were mostly grain men and farmers. None of the other banks here will be affected. Willis M. Sturges is interested in numerous enterprises, owning lumber works, a coal yard and a large stock farm. A. A. Peck, president of the Mansfield Machine works, who was named as receiver of the institution, was given authority to continue running the plant. which employs several hundred men. Its capital is $30,000. Mr. Sturges owned $82,800 worth of stock in this concern, and was an indorser for over $50,000 of its paper. There is a large number of stockholders, among them being the estate of the late John Sherman, which holds a few shares. The institution has not paid any dividends for five years. No statement has yet been made of the assets or liabilities.


Article from The Billings Gazette, July 5, 1901

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A DOUBLE FAILURE Suspension of Ohio Bank Involves Large Manufacturing Establishment. Mansfield, O., July 3-The Sturges bank failed to open its doors today, and is now in the hands of a receiver. Closing of the bank was followed by the assignment of Willis Sturges, owner of the bank, and the appointment of a receiver for the Mansfield Machine works, controlled by Sturges and his associates. The Sturges bank was a prominent institution. Its directors were mostly grain men and farmers. None of the other banks here will be affected. Willis M. Sturges is interested in numerous enterprises, owning lumber works, coal interests and large stock farms. A. A. Peck, president of the Mansfield Machinery works, who was named as receiver of the institution, was given authority to continue running the plant, which employs several hundred men. Its capital is $300,000. Sturges owned $82,800 worth of stock in the concern and was indorser for over $50,000 of its paper. There is a large number of stockholders, among them being the setate of the late John Sherman, which holds a few shares. The institution has not paid any dividends for five years. No statement has yet been made of assets or liabilities.


Article from The Semi-Weekly Messenger, July 5, 1901

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Another Bank Suspends Mansfield, O., July 3.-Sturges' bank, a private institution, closed its doors today following the filling of a deed of assignment by Banker Sturges to Attorney H. B. Dirlam. Sturges owned lumber works, real estate and a controlling interest in the Mansfield Machine Works, the latter capitalized at $300,000. This afternoon Lex A. Peck was appointed receiver for the Mansfield Machine Works. Sturges was a close friend of the late John Sherman. No statement of the bank's affairs has yet been made.


Article from Alexandria Gazette, July 5, 1901

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DEFERRED ITEMS. Rioting occurred in Buenos Ayres in protest against the bill to unify the public debt of Argentina. The Pennsylvania Railroad Company has assumed responsibility for the cavein of the Union tunnel in Baltimore, exonerating the city from any blame in the matter. An inspired German article published in Berlin declares that Germany under no conditions will permit France to acquire Morocco or the key to the Mediterranean. Congressman John A. T. Hull, of Iowa, who accompanied Gen. Chaffee on his recent southern tour in the Philippines, characterizes the newly estabed provincial governments as "hothouse plants, unable to withstand ad. versities." The Sturges Bank at Mansfield, Ohio, failed to open its doors on Wednesday and is in the hands of a receiver. The closing of this bank was followed by the assignment of Willis M. Sturges, owner of the bank, and by the appointment of a receiver for the Mansfield Machine Works, capital $300,000, which were controlled by Sturges and his associates. Thirty thousand dollars in twenty dollar gold pieces are missing from the cashier's vault of the United States mint, at San Francisco. Although the mist officials have been working on the case for four days, they have no clue to the disappearance of the coin, A train on the Great Northern leaving Seattle Sunday evering was held up near Wagner, Mont, about 1 o'clock Wednesday afternoon by a gang of outlaws. The Great Northern express safe was blown open and $83,000 is said to have been secured. It is stated that J. Pierpont Morgan & Co. have purchased the Northern Pacific steamship line, plying between Tacoma, Wash., and Japanese and Chinese ports and Manila. The purchase completes J. P. Morgan's round-the-world system. The British and Japanese sections in Pekin have been formally transferred to the Chinese. A thousand new Japanese troops have arrived at Pekin and 4,000 more are on the way to replace the force in the provence of Chi Li. Another Chinese insurrectionary society, known as the Allied Villagers, has been formed in Pao Ting Fu. For this reason the French troops will delay their evacuation for some months, Judge A. C. Thompson, of the United States Court, in Cincinnati on Wednesday allowed a temporary injunction against the striking machinists. Fifteen miners are reported to have been killed in an outbreak among the strikers of the Smuggler Mine in Colorado.


Article from Rock Island Argus, July 6, 1901

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Another Failure at Mansfield, O. Mansfield, O., July 6.-Following the failure of Willis M. Sturges, owner of the Sturges bank, and the appointment on Wednesday of a receiver for the Mansfield Machine works. yesterday came the failure of Lyman A. Strong. of the Strong Elevator company, who also had an interest in the grain firm of Strong & Lauk. of Bucyrus. O. Strong was a depositor in the Sturges bank.


Article from Evening Times-Republican, July 6, 1901

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Another Failure at Manafield, o. Mansfield. O., July 6.-Following the failure of Willis M. Sturges, owner of the Sturges bank, and the appointment on Wednesday of a receiver for the Mansfield Machine works. yesterday came the failure of Lyman A. Strong. of the Strong Elevator company. who also had an interest in the grain firm of Strong & Lank. of Bucyrus. O. Strong was a depositor in the Sturges bank.


Article from The Indianapolis Journal, July 6, 1901

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Another Mansfield Failure. MANSFIELD. O., July 5.-Foilowing the failure of Willis M. Sturges, owner of the Sturges Bank, and the appointment on Wednesday of a receiver for the Mansfield machine works, to-day came the failure of Lyman A. Strong, of the Strong Elevator Company, who also had an interest in the grain firm of Strong & Lauck, of Bucyrus, O. Strong was a depositor in the Sturges Bank. To-day he filed a deed of assignment in the Probate Court to Attorney William McC. Weldon and S. Brainerd Leiter, the latter formerly having been associated in business with him. Strong has been in business here since 1865 and was considered wealthy. His assets are estimated at $60,000 and liabilities more than that amount.


Article from The Batesburg Advocate, July 10, 1901

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Private Bank Fails. Sturges bank, of Mansfield 0, & private institution, closed its doors, following the filing of a deed of assignment by Binker Sturges to Attorney H. B Dirlam. Sturges owned lumber works, real estate and a controlling interest in the Mansfield Machine works, the latter capitalized at $300,000. Wednesday afternoon A. Peck was appointed receiver for the Mansfield Machine works. Sturges was a close friend of the late John Sherman.


Article from Eagle River Review, July 11, 1901

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Private Bank Fails in Ohio. The Sturges Bank at Mansfield, Ohio, failed to open its doors the other day, and is in the hands of a receiver. The closing of the bank was followed by the assignment of Willis M. Sturges, its owner, and by the appointment of a receiver for the Mansfield Machine Works, capital $300,000, controlled by Mr. Sturges and his associates.


Article from Eagle River Review, July 11, 1901

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Grain Dealer Goes Under. Following the failure of William M. Sturges, owner of the Sturges Bank, and the appointment of a receiver for the Mansfield Machine Works, came the failure of Lyman A. Strong, of the Strong Elevator Company, of Mansfield, Ohio, who also had an interest in the grain firm of Strong & Lauk, of Bucyrus, Ohio. Strong was a depositor in the Sturges Bank.


Article from Hot Springs Weekly Star, July 12, 1901

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Ohio Bank Goes Under. The Sturges bank at Mansfield, Ohio, closed its doors Thursday morning, when its owner filed a deed of assignment. Sturges the owner, was reputed to worth $150,000. He held a controlling interest in the Mansfield machine works, capitalized at $800,000, which went into the hands of a receiver today. Sturges was a close business friend of the late John Sherman.


Article from Vilas County News, July 15, 1901

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air Sr QUIO sembling at Columbus for the state convention. Jas. Kilbourne is to head the ticket. Rev. E. A. Cantrell of the First Christian church, Washington, Ind.. announced his disbelief in many Bible statements. Miss Elizabeth, formerly an officer of the Christian Endeavor Society, was baptized into the Mormon faith at Jersey City. Judge Addison Brown of the~United States district court, New York, resigned because of advanced age and health III At Omaha three more angry and active bulls fruitlessly chased half a dozen toreadors in the arena at the street fair. A. B. Kittridge, a prominent attorney of Sioux Falls, will probably be named as the successor of the late Senator Kyle. Roy Powell, aged 18, was convicted at Freeport, Ill., of killing Woodbury Workinger and given thirty years' imprisonment. Receivers were appointed for Sturges' bank, a private institution, and the Mansfield machine works, of Mansfield, Ohio. Miss May Harding, 20 years old, was burned to death in a farmhouse, near Indianapolis. She started a fire with kerosene. The nomination committee of the American Library association decided to recommend John Billings of New York for president. Jerome Byron Wheeler, clubman and financier, has begun bankruptcy proceedings in New York. His liabilities are $1,596,574. In a collision between a Main street trolley car and a New York Central coal train in Buffalo, two men and one women were injured. A jury at Fort Scott, Kas., decided that witnesses cannot be compelled to testify concerning knowledge of violation of liquor laws. A report on exports of farm products in 1900 showed that twelve nations expended over $10,000,000 each for American products. Judge Stone of Cleveland enjoined the striking machinists interfering with the plant of the Cleveland Punch and Shear company. Comptroller of the Currency Dawes has resigned, to take effect Oct. 1, so that he may devote his attention to the senatorship canvass. J. P. Morgan & Co. are said to have purchased the Northern Pacific and the Washington and Alaska Steamship Companies' properties. Commander Booth of the Volunteers of America sued Montclair, N. J., for $16,000 damages for filling up a ditch and flooding his property. In the fight between Jack Moffatt and George Gardner at San Francisco, the former's shoulder was thrown out of place in the third round. The University of Pennsylvania crew was defeated by the Leanders by one length at Henley in the final heat for the grand challenge cup. The immigration bureau discovers that a large percentage of the inmates of reformatory, penal and charitable institutions of the states are aliens. Delegates of the National Educational association convention at Detroit are apprehensive that the church schools will affect their work. The heaviest rainfall ever recorded in New York flooded basements and burst sewers. Deluge was accompanied by high winds. Loss, $50,000. Twenty-one disciples of Dowie visited Evanston and, despite the efforts of the police force, a mob of one thousand people drove them out of town. Professor Franklin W. Fisk, for forty years conected with Chicago theological seminary, and thirteen years its president, died from the extreme heat. W. E. Fitzgerald, head of Milwaukee