8312. State Bank (Whitehall, MI)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 8, 1897
Location
Whitehall, Michigan (43.410, -86.349)

Metadata

Model
gpt-5-mini
Short Digest
5bfd7106e34c2378

Response Measures

None

Description

Newspaper reports state the Whitehall State Bank was closed by the Michigan State Bank Department (Bank Commissioner Ainger) and later the Michigan Trust Company was appointed receiver; no run is described. Therefore this is a suspension by government action leading to permanent closure/receivership.

Events (2)

1. January 8, 1897 Suspension
Cause
Government Action
Cause Details
Bank Commissioner Ainger (state bank department) shut the doors of the Whitehall State Bank.
Newspaper Excerpt
Bank Commissioner Ainger has shut the doors of the Whitehall state bank, owned by the Whitehall Lumber Co., of Cheboygan.
Source
newspapers
2. March 25, 1897 Receivership
Newspaper Excerpt
The Whitehall State Bank of Whitehall failed a few weeks ago, and the Michigan Trust Company of Grand Rapids was appointed receiver, and since has been engaged in finding out what the assets and liabilities are.
Source
newspapers

Newspaper Articles (2)

Article from The Yale Expositor, January 8, 1897

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Article Text

THE TWO PENINSULAS. Port Huron police are raiding pool rooms which are kept open on Sundays. Mt. Clemens is anxious to secure the permanent location of the state militia camp. The St. Jose scale, a destructive disease which kills fruit trees very rapidly, has attacked the trees in Oakland county. A run was started on the Savings bank of East Saginaw by idle rumors, but the institution paid all demands without trouble. Lieut. Harold A. Smith, of Grand Rapids, will be assistant quartermaster-general instead of Capt. Ed. C. Bennett, who declined it owing to business engagements. Will Langthorn was capping a gun at Blissfield when the weapon exploded and the charge struck Edna Swift, aged 16, in the leg. Amputation at the knee was necessary, but the girl died from the shock. A wild man is frightening the farmers about Bridgeport half to death. The farmers who have seen him say he is eight feet tall, has a face like a gorilla and is covered with hair. Bank Commissioner Ainger has shut the doors of the Whitehall state bank, owned by the Whitehall Lumber Co., of Cheboygan. This is the first bank ever closed by the state bank department. Jos. Vallier and Eugene Buert were making a salve of gunpowder and lard at Menominee, but they got too near the stove and an explosion occurred which probably fatally burned both men, and seriously injured Vallier's wife and three children. Ex-Senator Emory Townsend, of Saginaw, declares that he will contest the seat of Henry H. Youmans in the state senate, alleging conspiracy in the election. Mr. Townsend, who was the Republican candidate, charges that there was an increase in votes at the last election wholly unjustified by the statistics. Land Commissioner French wants the state to plant pine trees on the state lands. There are 1,000,000 acres, mostly delinquent tax lands reverted to the state which might be utilized at once. Mr. French says that in 25 years the state could have fine growths of timber on these lands which are now useless, which would bring large revenue to the state. O. L. Partridge, convicted at Alpena, of embezzling from the building and loan association, has been granted a new trial. It was shown that two of the jurors-Wm. Munson and Chas. Habermehl-talked with outsiders before the verdict was given. These two were convicted and sent to the county jail for 30 days. The building and loan association will be reorganized. The extensive plant and greenhouse establishment of William Gregory, near Ludington was partially destroyed by fire, together with sheds, barns and a large number of valuable plants; the loss aggregating about $4,000.


Article from Crawford Avalanche, March 25, 1897

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Article Text

Minor State Matters. Several million whitefish and trout were planted in the straits at Mackinaw City by United States fish commissioners. The Imlay City Times is authority for the statement that a citizen of that village recently drank a pint of yeast, thinking it was buttermilk. John Chamberlin, a farmer living east of Willow, has received three registered Gallaway cattle, the first ever owned in that section of the country. Little Agnes Shane, 22 months old, living six miles south of Traverse City, died in terrible agony. She had been playing with matches the day before, when her clothing caught fire. Her brother threw a bucket of water over her, but she had inhaled the flames and suffered fatal internal injuries. The postmaster at Bronson, J. E. Watson, who has held the job for seven years, and who expected to get ousted under Cleveland, has held on, there being no new man appointed, and now that a Republican administration is in again, he smiles serenely, and intimates his job is good for at least eight years longer. The Whitehall State Bank of Whitehall failed a few weeks ago, and the Michigan Trust Company of Grand Rapids was appointed receiver, and since has been engaged in finding out what the assets and liabilities are. The capital stock of the bank was $25,000 and the deposits about $85,000, the latter put in chiefly by laboring men. The depositors will receive less than 20 cents on the dollar, even after an assessment has been levied upon the stockholders to the amount of their stock holdings, as the law provides. The Kalamazoo river is at the highest mark for years. Hundreds of houses in Kalamazoo are surrounded by water, and around some it is ten feet deep. They are reached only by boats, and all movable material has been carted to high ground or placed on house tops. About six weeks ago Wish Chapman was severely slugged in Garret Weirs' shoe shop at Kalamazoo by three men, two of whom disappeared, but returned Wednesday, and Judge Peck sentenced the trio, Garret Weirs, John Dorman and Peter Van de Lere, to pay $29 each or spend ninety days on the stone pile. The W. C. T. U. opened meetings at Dorrance, with Mrs. F. E. Britten to assist. The fight has been against hard cider. Thirty-one have alreády signed the pledge and more have promised to sign. The financial statement of the city of Hillsdale for the year ending March 1, 1897, shows the total indebtedness of the city to be $56,613.62. This is a reduction of indebtedness during the year of $5,696.83. The city owns both the water works and electric light plant, and the receipts from water and electric light during the year have been $9,770.05. The rate of taxation for 1896 was 33 cents on each $100 less than in the year 1895.