State Bank of Crystal Falls - Crystal Falls, MI

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: May 9, 1896
Location: Crystal Falls, Michigan (46.098, -88.334)

Metadata

Model: gpt-5-mini
Short Digest: 0f8879e7

Response Measures

None

Description

Article (1896-05-09) refers to the bank as 'defunct' and names a receiver (H. M. Pelham) paying dividends to depositors, indicating the bank had been suspended/closed and placed in receivership. No run is mentioned in the provided article.

Events (1)

1. May 9, 1896 Receivership

Newspaper Excerpt: Receiver H. M. Pelham, of the defunct State Bank of Crystal Falls, was in the city Thursday, attending to collections in connection with the receivership. He informs THE DIAMOND DRILL that another dividend of ten per cent will be paid to the depositors within ten days.
Source: newspapers

Newspaper Articles (1)

1. May 9, 1896 The Diamond Drill Crystal Falls, MI

Article from The Diamond Drill, May 9, 1896

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Article Text

Another Dividend. Receiver H. M. Pelham, of the defunct State Bank of Crystal Falls, was in the city Thursday, attending to collections in connection with the receivership. He informs THE DIAMOND DRILL that another dividend of ten per cent will be paid to the depositors within ten days. This will bring the total payment to depositors since the receiver was appointed eighty cents on the dollar. It is hoped that the depositors will be paid in full, but it is said that the stockholders have very little to hope for in the way of returns.