D. F. Wadsworth & Company (Ishpeming, MI)

Episode Information

Episode UID
7469988991009
Episode Type
Suspension โ†’ Closure
Bank Type
trust
Bank ID
746998899 hash
Start Date
January 3, 1884
Location
Ishpeming, Michigan (46.489, -87.668)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
15520afaeb25af67

Response Measures

None

Description

Assignment to A. O. Young indicates a permanent failure with limited depositor recovery (~20%).

Events (2)

1. January 3, 1884 Receivership
Newspaper Excerpt
D.F. Wadsworth & Co., bankers, have made an assignment to A. O. Young. Their liabilities are $180,000.
Source
newspapers
2. January 3, 1884 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Failure caused by unfortunate business loans and mining speculations leading to insolvency.
Newspaper Excerpt
ISHPEMING, MICH., Jan. 3.-D.F. Wadsworth & Co., bankers, have made an assignment to A. O. Young.
Source
newspapers

Newspaper Articles (2)

Article from Savannah Morning News, January 4, 1884

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Article Text

FAILURES IN BUSINESS. Pennsylvania Debtors to $2,000,000 Secure an Extensien for Four Years. DUBOIS, PA., Jan. 3.-The firm of Hutnan & Co., lumber men, with a capital of $2,000,000, operating in Clearfield and adjoining counties, have failed, but by a compromise with its creditors have been granted an extension for four years. A BANK FAILS. CHICAGO, Jan. 3.-A dispatch from Decatur, Ill., says that the Lovington Bank, managed by Z. F. Banks for S. H. Morrell, has failed. His liabilities are $45,000. The manager speculated. Mr. Morrell, who is worth $50,000, has made an assignment for the benefit of his creditors. Banks has disappeared. LIABILITIES $180,000, ASSETS $36,000. ISHPEMING, MICH., Jan. 3.-D.F. Wadsworth & Co., bankers, have made an assignment to A. O. Young. Their liabilities are $180,000. The depositors will get barely 20 per cent. The failure was caused by unfortunate business loans and mining speculations. STEADMAN READMITTED. NEW YORK, Jan. 3.-Edmund C. Steadman, the broker poet who suspended some time ago, has been readmitted to membership in the Stock Exchange. A COTTON BROKER SUSPENDS. NEW YORK, Jan. 3.-N. W. Emerson, cotton broker, suspended to-day.


Article from The Rock Island Argus, January 4, 1884

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Article Text

Heavy Business Failures. ISHPEMING, Mich., Jan. 4.-D. F. Wadsworth & Co., bankers here, made an assignment to H. O. Young, with liabilities placed at $100,000. The assets, altough not immediately,available, are abundantly sufficient to cover the liabilities, which may be more than stated. DUROIS, Pa., Jan. 4.-The firm of Putnam & Co., lumbermen, capital $2,000,000, operating in Clearfield and the adjoining counties, has failed, but, by a compromise with the creditors have been granted an extension of four years. PITTSBURG, Jan. 4.-P. H. Hunker, the oldest and one of the largest confectionery establishments of Pittsburg, was closed by the sheriff on the suit of Hill & Bro., of New York. The amount of indebtedness is not known. ROSCOE, Ohio, Jan. 4.-Smith & Son, dry goods, assigned. Liabilities, $11,000.