Peoples Savings Bank - Detroit, MI

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: March 13, 1931
Location: Detroit, Michigan (42.331, -83.046)

Metadata

Model: gpt-5-mini
Short Digest: 0e924826

Response Measures

None

Description

OCRed clipping is fragmentary. The article (dated 1931-03-14) lists several Detroit/suburban banks that closed or failed on March 13, and names a Peoples bank in Wayne County. There is no explicit description of a depositor run; the piece reports closures and asset-takeover plans. I am classifying this as a suspension/closure (permanent) due to the wording 'closed' and context implying failure/asset takeover. Bank type not clearly stated in the text, so set to unknown.

Events (1)

1. March 13, 1931 Suspension

Cause Details: Article lists Peoples (Wayne County) among suburban banks that 'closed' or 'failed' on March 13; no explicit cause given in clipping.
Newspaper Excerpt: DETROIT BANKS CLOSED March 13 suburban banks failed... They are the Amer State Bank of Bank of Wyandotte Bank of the State Bank of The Peoples Wayne County
Source: newspapers

Newspaper Articles (1)

1. March 14, 1931 The Cincinnati Enquirer Cincinnati, OH

Article from The Cincinnati Enquirer, March 14, 1931

Click image to open full size in new tab

Article Text

and his MARQU Marqua March 118 EAST FOURTH STREET DETROIT BANKS CLOSED March 13 suburban banks failed to for They are the Amer State Bank of Bank of Wyandotte Bank of the State Bank of The Peoples Wayne County that It The be all the and at the New York for be known as the Bank take the assets of the Bank Trust was to by Supreme Court The plan was by Joseph A. Brod. Banking plan Chelsea would be Broderick