8858. Albion State Bank (Albion, MI)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 22, 1931
Location
Albion, Michigan (42.243, -84.753)

Metadata

Model
gpt-5-mini
Short Digest
38a76dc9

Response Measures

None

Description

Articles indicate Albion State Bank was closed by its directors on December 22, 1931 and a receiver was appointed. Later (July 1934) the receiver petitioned to pay a 10% dividend. No contemporaneous run is described; cause of the suspension/closure is not specified in the provided articles.

Events (3)

1. December 22, 1931 Suspension
Cause Details
Closed by its directors on December 22, 1931; article does not state the reason for closure.
Newspaper Excerpt
the bank closed by Its directors December 22, 1931
Source
newspapers
2. July 12, 1934 Other
Newspaper Excerpt
Petition Asks Court's Permission To Release 10 Per Cent To Depositors. ... the defunct Albion State bank said today that Circuit Judge Blaine Hatch for permission to pay per cent ... This the first dividend paid since the bank closed by Its directors December 22, 1931
Source
newspapers
3. * Receivership
Newspaper Excerpt
Mrs. Clara Fall ... Mrs. secretary to W. R. Noyes, local insurance agent and Albion State bank receiver
Source
newspapers

Newspaper Articles (2)

Article from Battle Creek Moon-Journal, February 23, 1934

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Article Text

CLARK DEAN IS SECOND ON COLLEGE BOARD Albion College Trustees Hold Election In Detroit Wednesday. Albion, Feb. Clark Dean, Albion manufacturer, has been elected vice-president of the Albion College board of trustees. Howard Lawrence, of Grand Rapids, former state treasurer, is president the board. Mr. Dean's election took place meeting of the college trustees in Detroit Wednesday. The graduated from Albion College in 1921. He spent part his college days the University Michigan and played year on the university of football eleven. He is city counciland commissioner of finance. He appointed to the board trustees little over upon death of his father, George The Mr. Dean been of the board to his death. At quiet home wedding before about 40 Sally Ruth Fall, of Mrs. Clara Fall. West Erie street, became the bride of Encke, son Mr Mrs. W. Encke, Albion, evening. was performed at the Fall home by Dr. S. Goodrich, Albion College. Mr. and Mrs. Encke reside at 415 Brockway Place. Mr Encke is employed by his father. local oil distributor, and Mrs. secretary to W. R. Noyes, local insurance agent and Albion State bank receiver. At the weekly Albion Rotary club noon at Parker Inn. short talk was given on "What Doing In Lansing by George Mather, and amateur motion taken by several Albion on vacation trips in northern Ontario were shown. Removal of the last semblance the lines South Superior street was started Thursday by city employes and Consumers Power workmen, when the of removing the steel which supported the trolley wires was started. A dog which fell into a cistern the American Legion home Tuesday night was finally rescued City Fireman William Olsson Thursday when managed animal. Because the cistern was part way unLegion home was impossible ladder into the cistern and there were many difficulties in rescuing the animal. No action on the protests of Albion parents against the extent of the present system extra credit work Albion High school likely to taken until the next regular meeting of school board on March Superintendent Schools Don Harrington said Thursday that the system, which is being protested against by parents, has been in use for about sixteen years. Percy Abbott, noted magician and ventriloquist, is to program tonight at o'clock the Washington Gardner High school auditorium. under the auspices the senior class of the High


Article from Battle Creek Moon-Journal, July 12, 1934

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Article Text

DEFUNCT BANK AT ALBION TO PAY DIVIDEND Petition Asks Court's Permission To Release 10 Per Cent To Depositors. July R. for the defunct Albion State bank said today that Circuit Judge Blaine Hatch for permission to pay per cent This the first dividend paid since the bank closed by Its directors December 22, 1931 said that all preferred claims have been paid in full Rising wheat prices in politan markets Wednesday caused favorable reaction in bion markets, wholesale tions rising five cents bushel, to and 81 cents. Albion's recently organized City band gave its concert at tory park evening of close to 2,000 persons. Junior band. composed of bion boys between the ages nine and 16 years. make its debut in the business section Albion Saturday ning. The band under the rection Joseph well known Albion High school musiclan. The City Championship Luther the St. John's now tied for first place in the Na. tional result of the weekly games Victory park evening The Methodists were deadlocked the two leaders for first place until the Lutherans defeated them. 10-4. The St. John's kept pace champions by defeating the Union the third game the evening. the Mitchells defeated second division tilt.