Article Text
Close Bank by Forgery. WASHINGTON, D. C.— Special.Frank L. Irwin. Albion, Mich, has been appointed receiver for the First National Bank, of Albion, Mich., which was closed by the forgery of notes aggregating $150,000
7778. First National Bank (Albion, MI)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 3316
- Charter Number
- 3316
- Start Date
- January 11, 1912
- Location
- Albion, Michigan (42.243, -84.753)
Metadata
- Model
- gpt-5-mini
- Short Digest
c4c04abc5b08fbb3
Response Measures
None
Description
Articles report the First National Bank of Albion was closed and a receiver appointed after discovery of forged notes aggregating $150,000 (Jan 1912). There is no mention of a depositor run; subsequent articles describe receivership litigation and directors held liable (1912–1915). OCR typos corrected: Albian -> Albion; D. A. Carfield/Garfield reconciled as D. A. Garfield (receiver). The closure appears permanent (bank described as defunct and in litigation), so classified as suspension leading to closure.
Events (6)
1.
March 2, 1885
Chartered
- Source
- historical_nic
2.
January 13, 1905
Voluntary Liquidation
- Source
- historical_nic
3.
January 11, 1912
Receivership
- Newspaper Excerpt
- has been appointed receiver for the First National Bank, of Albion, Mich., which was closed by the forgery of notes aggregating $150,000
- Source
- newspapers
4.
January 11, 1912
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Bank was closed after discovery of forged notes totaling about $150,000 (forgery of notes undermined bank solvency).
- Newspaper Excerpt
- Frank L. Irwin. Albion, Mich, has been appointed receiver for the First National Bank, of Albion, Mich., which was closed by the forgery of notes aggregating $150,000
- Source
- newspapers
5.
February 27, 1912
Other
- Newspaper Excerpt
- An investigation of the affairs of the wrecked Albion National bank began Monday when Judge Walter H. North appointed D. A. Carfield, of Albion, receiver for the First National bank, of Albian. This bank was the predecessor of the Albion National... he believes the wrecking of Albion National really started before the merger.
- Source
- newspapers
6.
July 14, 1915
Other
- Newspaper Excerpt
- The directors of the old First National bank of Albion are held responsible for about $25,000 worth of assets of that institution... in the suit of D. A. Garfield, receiver, against the directors
- Source
- newspapers
Newspaper Articles (4)
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Article Text
WILL SIFT BANK MIX-UP AT ALBION BATTLE CREEK, Mich.. Feb. 27.An investigation of the affairs of the wrecked Albion National bank began Monday when Judge Walter H. North appointed D. A. Carfield, of Albion, receiver for the First National bank, of Albian. This bank was the predecessor of the Albion National, and John H. Callahan, who was a stockholder in the old bank and a director in the new one, wants the receiver to run down the assets of the original bank. He believes the wrecking of Albion National really. started before the merger.
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Article Text
Bank Directors Held Responsible. BATTLE CREEK. Mich., July 14. The directors of the old First National bank of Albion are held responsible for about $25,000 worth of assets of that institution. in a decision manded down today by Circuit Judge Walter H. North. in the suit of D. A. Garfield, receiver, agains the directors, the list including Dr W. O'Donoghue, now dead; H. M. Dearing, now serving a sentence in Fort Leavenworth prison, and A. J Howe, M. D. Weeks, an attorney, and J. C. Eslow.
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Article Text
DIRECTORS MUST PAY Are Held Responsible in Failure of Albion Banking Company. BATTLE CREEK, Mich., July 16.Though granting that they were innocent of intentional wrong doing Judge North of the circuit court holds that the directors of the First National bank at Albion are responsible for about $25,000 of the debts of that institution now defunct. The decision was in the suit of D. A. Garfield receiver of the bank against the directors among whom were Dr. W. O'Donnoghus, now dead; H. M. Dearing, now serving time in the federal prison at Fort Leavenworth Kas.; A. J. Howe, M. D. Weeks and J. C. Eslow.