Peoples Wayne County Bank (Wyandotte, MI)

Episode Information

Episode UID
74020571597
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7402057 routing
Routing Number
74-0205
Start Date
January 1, 1933*
Location
Wyandotte, Michigan (42.211, -83.157)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
41dcfdcbec269d7d

Response Measures

None

Description

Articles state the bank has been closed since 1933 and placed in receivership; cause of original suspension not specified in these clippings.

Events (5)
1. January 1, 1933* Receivership
Newspaper Excerpt
Receiver Joseph J. McGrath, of the closed Peoples Wayne County Bank of Wyandotte ... closing in 1933 to 90 per cent.
Source
newspapers
2. January 20, 1939 Other
Newspaper Excerpt
Receiver Joseph J. McGrath ... is paying depositors another ten per cent dividend.
Source
newspapers
3. December 15, 1939 Other
Newspaper Excerpt
Receiver J. J. McGrath will distribute checks representing a 10 per cent and final dividend to depositors. This makes a 100 per cent return.
Source
newspapers
4. December 22, 1939 Other
Newspaper Excerpt
At 9 o'clock yesterday morning, Receiver J. J. McGrath, of the closed Peoples Wayne County bank of Wyandotte, began the disbursal to depositors of a $115,000 final payoff.
Source
newspapers
5. July 5, 1940 Other
Newspaper Excerpt
Communication from J. J. McGrath, receiver of the Peoples Wayne County Bank of Wyandotte, offering the board a piece of property ... at a sacrifice.
Source
newspapers

Newspaper Articles (5)
1. January 20, 1939 The Wyandotte Herald Wyandotte, MI
Article from The Wyandotte Herald, January 20, 1939

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Article Text

DEPOSITORS IN CLOSED BANK GET DIVIDEND Starting on Monday of the present week, Receiver Joseph J. McGrath, of the closed Peoples Wayne County Bank of Wyandotte, is paying depositors another ten per cent dividend. This applies to both commercial and savings depositors, and brings the total payment since the closing in 1933 to 90. per cent. The total amount of the dividend is in the neighborhood of $115,000. When ealling at the bank for their money, depositors must bring their receiver's receipts. issued at the time of the first payment.

2. December 15, 1939 The Wyandotte Herald Wyandotte, MI
Article from The Wyandotte Herald, December 15, 1939

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Article Text

RECEIVER M'GRATH INSANTA CLAUS ROLE BEFORE CHRISTMAS Here's good news for depositors in the closed Peoples Wayne County bank of Wyandotte. Within the next week or ten days, as soon as the necessary clerical work can be completed, Receiver J. J. McGrath will distribute checks representing a 10 per cent and final dividend to depositors. This makes a 100 per cent return of the depositors' money. Should remaining assets prove sufficient, depositors may also receive later an interest payment for the time their money was tied up.

3. December 22, 1939 The Wyandotte Herald Wyandotte, MI
Article from The Wyandotte Herald, December 22, 1939

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Article Text

$115,000 TO BE PAID OUT TO DEPOSITORS At 9 o'clock yesterday morning, Receiver J. J. McGrath,' of the closed Peoples Wayne County bank of Wyandotte, began the disbursal to depositers of a $115,000 final payoff. When this is completed, the bank will have paid its depositors in full, with the prospect of a later payment in interest on deposits. The present payoff is being made at the office of the receiver, 2903 Biddle avenue. Depositors must bring their receiver's receipts, in order to get their money.

4. July 5, 1940 The Wyandotte Herald Wyandotte, MI
Article from The Wyandotte Herald, July 5, 1940

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Article Text

Property Offered to School Board The Board of Education. at its session Monday night, received a communication from J. J. McGrath, receiver of the Peoples Wayne County Bank of Wyandotte, offering the board a piece of property located at 1038-1064 Biddle avenue, and adjoining the Labadie school, "at a sacrifice." President Charles S. Johnson appointed Trustees William J. Homeister and Charles H. Block as a committee to confer with Mr. McGrath regarding the purchase. The committe is to make its report at the next meeting of the board.

5. July 5, 1940 The Wyandotte Herald Wyandotte, MI
Article from The Wyandotte Herald, July 5, 1940

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Article Text

This is to certify that the above vouchers amounting to $3,071.26 have been examined: that the articles or services called for have been received; that prices and computations are correct; that all invoices, receiving notices and supporting data are attached and in order, and that the proper accounts have been charged. The Treasurer is hereby authorized to pay the above vouchers. Wm. A. Marsh, President. Arthur E. Baisley, Secretary. Trustee Block moved that the bills be approved. and that the treasurer be authorized to draw warrants on the proper funds for the payment of same. Trustee Homeister seconded the motion. Ayes: Trustees Allman. Block. Homeister. Johnson, Kalash, McInerney and Steele. Nays: None. The motion was carried. A communication was received from J. J. McGrath. receiver. Peoples Wayne County Bank of Wyandotte, stating that a piece of property located at 1038-1064 Biddle Avenue and adjoining the Labadie School could be purchased by the Board at a sacrifice. The president appointed Trustee Homeister and Trustee Block to communicate with the receiver regarding this purchase and report at the next meeting. Trustee Block moved to adjourm. Trustee Kalash seconded the motion. Ayes: Trustees Allman, Block, Homeister. Johnson. Kalash. MeInerney and Steele. Nays: None. The meeting was adjourned. ARTHUR E. BAISLEY. Secretary.