Sandy Valley Bank - Malvern, OH

Episode Information

Episode UID: 8203056291213
Episode Type: Suspension → Closure
Bank Type: private
Bank ID: 820305629 hash
Start Date: January 1, 1901*
Location: Malvern, Ohio (40.692, -81.181)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 76593e275dc4be5e

Response Measures

None

Description

Article states bank was wrecked by the president's speculation circa four years before 1905; exact suspension/failure date not given.

Events (1)

1. January 1, 1901* Suspension

Cause: Bank Specific Adverse Info
Cause Details: President John C. Allmon speculated in wheat using bank funds, wrecking the bank and leading to its suspension.
Newspaper Excerpt: the Sandy Valley bank, which was wrecked four years ago through the president, John C. Allmon, who speculated in wheat, using the money of the bank to put through his deals.
Source: newspapers

Newspaper Articles (1)

1. June 20, 1905 The Stark County Democrat Canton, OH

Article from The Stark County Democrat, June 20, 1905

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Article Text

Malvern Man Committed to Massillon Asylum. Malvern June 16-Charles I. Ross of this place was declared insane today by Probate Judge McDonald and ordered taken to the Massillon asylum, to which institution he was removed this afternoon by Sheriff Queen. There is a sad story connected with the young man losing his mind. He was the cashier of the Sandy Valley bank, which was wrecked four years ago through the president. John C. Allmon, who speculated in wheat, using the money of the bank to put through his deals. At the time of suspension this bank had deposits of about $80,000, mostly belonging to the poorer class of Malvern and the surrounding community. The suspension of the bank has weighed heavily on Mr. Ross, and he became mentally unbalanced, though he has never been accused of wrong doing by any of the depositors. He was removed by his family, which is quite prominent here, to a private sanitarium near Cuyuhoga Falls. He returned home this week, apparently much improved in health, but he became violent Wednesday evening and tried to kill himself by beating himself over the head with a poker while at his home. Help was called and he was subdued, when the case was put into the hands of the probate court. Mr. Ross is a brother of Dr. E. C. Ross, who died a short time ago.