Clyde Banking Company (Clyde, OH)

Episode Information

Episode UID
6062994891007
Episode Type
Suspension โ†’ Closure
Bank Type
trust
Bank ID
606299489 hash
Start Date
November 3, 1883
Location
Clyde, Ohio (41.304, -82.975)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
ed6380b770b001bf

Response Measures

None

Description

Cashier P. W. Parkhurst decamped and a receiver was appointed; bank carried unsafe paper.

Events (2)

1. November 3, 1883 Receivership
Newspaper Excerpt
The failure of the Clyde Banking company was announced last night... D. R. Heffner has been appointed receiver.
Source
newspapers
2. November 3, 1883 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank carrying too much unsafe paper led to suspension after cashier left.
Newspaper Excerpt
The suspension is thought to have been caused by the bank's carrying too much unsafe paper.
Source
newspapers

Newspaper Articles (3)

Article from The Daily Dispatch, November 4, 1883

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Article Text

Another Bank Cashier Off. [By telegraph to the Dispatch.| CLYDE, OHIO, November 3.-Cashier P. W. Parkhurst, of the Clyde Banking Company, left here last Wednesday, and has not returned. The other two partnersA. Richards and D. E. Harkness-are expected to make good the deposits, which amount to from $60,000 to $75,000. The suspension is thought to have been caused by the bank's carrying too much unsafe paper. No defalcation is suspected.


Article from Daily Globe, November 5, 1883

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Article Text

BUSINESS WRECKS. CHICAGO, Nov. 3.-G. S. Richardson, wholesale dealer in boots and shoes, was closed by the sheriff to-day to satisfy a judgment entered by confession during the forenoon. The liabilities are estimated at $25,000; assets $15,000. The liabilities of Pelver, Page, Hoyne & Co., stationers, who failed this week, are stated at $556,000; assets $327,000. DETROIT, Nov. 3.-Frank Chickering, a wealthy lumberman, of Grand Rapids. has made an assignment. Liabilities $75,000; assets something over that amount. Endorsing for M.J. Bond, whose failure is already announced, is the cause. Both have heavy stocks of lumber on hand and will try to get on their feet again. GRAND RAPIDS, Mich., Nov. 3.-Frank Chickering, a lumber dealer engaged in business here and at Fife Lake, has assigned. Liabilities $100,000; assets very nearly as much. GALVESTON, Nov. 3.-James A. Bently, general merchant at Herne, has assigned. Liabilities, $16,000; assets nominally $17,000. MONTREAL, Nov. 3.-Daigneau & Co., bark dealers of St. Hyacinthe, have assigned to Wm. Farrell, manager of the Eastern township bank, for the benefit of creditors. Liabilities, $250,000. A. S. Beaucheme & Co., shirt manufacturers, have failed. Liabilities, $13,000. SANDUSKY, 0, Nov. 3.-The failure of the Clyde Banking company was announced last night. P, H. Parkhurst, cashier, left Wednesday but no suspicion was aroused till yesterday as he drew but a small amount. The actual condition of the concern is not yet stated. Parkhurst was village and school treasurer, The affair is purely local and hardly can effect outside parties. D. R. Heffner has been appointed receiver. Clyde is a village 17 miles south of Sandusky. MILWAUKEE, Nov. 3.-H. L. Eisen & Co., clothiers, made an assignment to-day.


Article from Watertown Republican, November 7, 1883

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Article Text

# Financially Embarrassed. M. J. Bond, a prominent lumber merchant of Grand Rapids, Mich., has failed, with debts to the amount of $175.000. The Clyde (O.) Banking Company has failed and the cashier has decamped. A village hardware dealer succumbed in consequence of the bank's collapse. Franz Gindele, of Chicago, went to the wall on the 1st inst., with $25,000 liabilities. Thomas Wallis & Sons, commission merchants, Toronto, failed on the 31st, with liabilities amounting to $80,000. Rev. G. M. Pierce, editor and bookseller, at Salt Lake City, suspended on the 31st, with debts to the amount of $22,000. The large printing house of Culver, Page, Hoyne & Co., Chicago, closed its doors on the 29th. Their indebtedness is placed at half a million.