7795. Athens State & Savings Bank (Athens, MI)

Bank Information

Episode Type
Suspension โ†’ Reopening
Bank Type
savings bank
Start Date
August 1, 1908*
Location
Athens, Michigan (42.089, -85.235)

Metadata

Model
gpt-5-mini
Short Digest
c8a026b87f105e6b

Response Measures

None

Description

Articles describe the bank being closed (suspended) in August 1908, a receiver (Frank H. Wolf) appointed in early September 1908 by state banking authorities, and a February 1909 court decree ordering the receiver to turn the bank back to stockholders so it could reopen. No run or heavy withdrawals are described; the action resulted from a petition and state banking department involvement (government action). OCR corrected capitalization and bank name spacing.

Events (3)

1. August 1, 1908* Suspension
Cause
Government Action
Cause Details
Petition filed to declare the bank insolvent; state banking department and assistant attorney general sought a receiver.
Newspaper Excerpt
It has been closed since last August, when a petition was filed to have it declared insolvent.
Source
newspapers
2. September 4, 1908 Receivership
Newspaper Excerpt
At a conference ... a decision was reached to appoint a receiver to take temporary charge of the bank's affairs. ... Frank Wolf ... was named as receiver (reported Sept. 4 and Sept. 11, 1908).
Source
newspapers
3. February 4, 1909 Reopening
Newspaper Excerpt
A decree ordering Receiver Frank H. Wolf to turn the Athens State & Savings bank over to the stockholders' officials has been signed ... and means that the bank is to be reopened.
Source
newspapers

Newspaper Articles (3)

Article from The Detroit Times, September 4, 1908

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Article Text

RECEIVER FOR ATHENS BANK. BATTLE CREEK, Mich., Sept. 4.At a conference in the circuit court between Bank Examiner Zimmerman and Assistant Attorney General Henry Chase, representing the state banking department. and Attorney Wm. E. Ware, in behalf of the Athens State Savings bank, a decision was reached to appoint a receiver to take temporary charge of the bank's affairs. The receiver will be named soon


Article from The Yale Expositor, September 11, 1908

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Article Text

MICHIGAN ITEMS. John Oatley, Lansing, a member of the grand jury which indicted Frank P. Glazier, was drawn on the petit jury which will try Glazier. The trial will begin about September 28. While working on a clover huller on the upper farm' in Lamotte township, Matthew Warner, of Almont, was caught in the machine and instantly killed. He leaves a widow and eight children. Fire which started in the plant of the Hudson Creamery Co., in Cadmuth, Saturday morning, totally destroyed the structure; loss, $2,000. The company had just purchased the plant and had occupied it only four days. Believing the mayor would see that they were not prosecuted, 14 Saginaw saloonkeepers took his word and remained open until 12 instead of 11 o'clock. They were arrested by order of the police commissioners and bound over to circuit court. Assistant Quartermaster General Rogers left for Camp Benjamin Harrison, Indianapolis, to prepare for the encampment of the M. N. G. there. The first field artillery of Lansing and Mason has been ordered to attend target practice at Sparta, Wis., September 14. Despite the fact that officials had raised $20,000 on outstanding loans. a receiver was decided upon in circuit court Thursday for the Athens State & Savings bank. Attorneys for the bank opposed a receiver, but they were fought by Assistant Attorney General Chase and Banking Commissioner Zimmerman. Frank Wolf, vicer president of the Central National bank of this city, was named as receiver. A 5-inch hat pin was removed from the stomach of the 15-months-old daughter of James McQueen, of Brimley, and she may recover. The child stumbled while the pin was in her mouth and swallowed it.


Article from Belding Banner, February 4, 1909

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Article Text

John Haan, aged 80, has been missing from his home in Muskegon since Saturday, and relatives fear that he has taken his life. It is said that he purchased a quantity of chloroform before he left. A decree ordering Receiver Frank H. Wolf to turn the Athens State & Savings bank over to the stockholders' officials has been signed by Circuit Judge North, and means that the bank is to be reopened. It has been closed since last August, when a petition was filed to have it declared insolvent. The stockholders fought the step successfully.