L. Rudd & Son (Bronson, MI)

Episode Information

Episode UID
9077942791321
Episode Type
Suspension โ†’ Reopening
Bank Type
private
Bank ID
907794279 hash
Start Date
January 27, 1910
Location
Bronson, Michigan (41.872, -85.195)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
53bba377ae8de7cc

Response Measures

None

Description

Contemporary reports call the closing temporary due to slow collections but provide no later reopening notice; additional articles could confirm outcome.

Events (1)

1. January 27, 1910 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Slow collections and losses tied to investments/business interests (refrigerator plant, cement industry) left the bank temporarily unable to meet obligations.
Newspaper Excerpt
A notice posted on the door said that owing to slow collections the bank was unable to meet its obligations.
Source
newspapers

Newspaper Articles (4)

Article from The Detroit Times, January 27, 1910

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Article Text

PRIVATE BANK CLOSES. w Collections Assigned For Failure of Bronson Institution. BRONSON, Mich., Jan. 27.-The prile bank of L. Rudd & Son closed its ors yesterday. Frank M. Rudd is nager and sole proprietor of the intution, having succeeded to his her's interests at the latter's death veral years ago. A notice posted on the door of the ik told people that the bank was able to meet its obligations owing slow collections. It is said that dd became involved through an iceS refrigerator manufacturing plant Angola, Ind., in which he is largely erested and by the failure of a cent industry in the west. Frank M. Rudd is also proprietor of large flour mill here and has aner mill at Three Rivers. He is one the largest dealers in peppermint in the country and owns several ge farms. He has always been rerded as a safe and conservative nker and business man in whom the munity had greatest confidence. Mr. Rudd stated yesterday that his barrassment is only temporary, at there is no danger of any loss the depositors in the bank, and that his creditors would be paid in full. e deposits of the bank are said to between $70,000 and $80,000.


Article from The Detroit Times, January 28, 1910

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Article Text

PRIVATE BANK CLOSES. Slow Collections Assigned For Failure of Bronson Institution. BRONSON, Mich., Jan. 27.-The private bank of L. Rudd & Son closed its doors yesterday. Frank M. Rudd is manager and sole proprietor of the institution, having succeeded to his father's interests at the latter's death several years ago. A notice posted on the door of the bank told people that the bank was unable to meet its obligations owing to slow collections. It is said that Rudd became involved through an iceless refrigerator manufacturing plant at Angola, Ind., in which he is largely interested and by the failure of a cement industry in the west. Frank M. Rudd is also proprietor of a large flour mill here and has another mill at Three Rivers. He is one of the largest dealers in peppermint oil in the country and owns several large farms. He has always been regarded as a safe and conservative banker and business man in whom the community had greatest confidence. Mr. Rudd stated yesterday that his embarrassment is only temporary, that there is no danger of any loss to the depositors in the bank, and that all his creditors would be paid in full. The deposits of the bank are said to be between $70,000 and $80,000.


Article from The Morris County Chronicle, February 1, 1910

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Article Text

Gallipolis, Ohio.-Francis Goddard, convicted murderer, took advantage of permission to attend his wife's funeral, and escaped from his guards. Goddard was convicted of the murder of William Levisay, and had been confined in the jail at Point Pleasant, W. Va. C. P. Taft's Employe Held. Torreon, Mexico.-A. G. White, formerly employed as a bookkeeper on the ranch of Charles P. Taft, at Mission, Texas, was taken back to that place from here to answer a charge of embezzling $1400 of the ranch funds. Taft Plans a Trip, Washington, D. C.-President Taft promised to go to Ohio on June 15 to speak at the seventy-fifth anniversary of Marietta College. He also promised to go to Rochester, N. Y., some time in March to attend a banquet to be given by the Chamber of Commerce. While on that trip the President may go to Albany, N. Y. Bank Treasurer Surrenders. Webster, Mass.-After secluding himself for more than a week, John A. Hall, treasurer of the Southbridge Savings Bank, who is charged with the larceny of $21,000 of the bank's funds, surrendered himself to the State police at Worcester, and was brought here for a hearing. When taken into court he waived examination, and pleaded not guilty to a charge of grand larceny. Judge Clark held the treasurer in $50,000 bonds, which were furnished. Burley Society Wins Suit. Frankfort, Ky.-The Kentucky Court of Appeals overruled a petition for a rehearing in the case of the Burley Tobacco Society against J. E. Gaitskill, et al. The Clarke County Court some time ago appointed a receiver for the society, but the decision was reversed by the Court of Appeals. Beach Hargis Must Stay in Jail. Frankfort, Ky. Beach Hargis must serve his sentence of life imprisonment for the murder of his father, Judge James Hargis, famous feudist. This ruling was handed down by the Kentucky Court of Appeals. Private Bank Closes Its Doors. Bronson, Mich.-The private bank of L. Rudd & Son closed here. A notice posted on the door said that owing to slow collections the bank was unable to meet its obligations. The deposits are $70,000. Former Slave Dies at 119. Elyria, Ohio.-"Uncle" John Ramsey, 119 years old, died at the County Infirmary. Ramsey was a slave and escaped forty years before the Civil War, going to Oberlin. "Drys" Defeated in Joplin, Mo. Joplin, Mo.-Prohibition was defeated at a local option election here by a majority of 814 in a vote of 6504. Women and children took an important part in the campaign, marching and singing in the streets and serving free lunch at the polls. Excise Violations in New Town. Gary, Ind.-Thirty persons were fined $50 and costs and sentenced to thirty days in jail for violating the prohibition law here. The thirty days in jail was later suspended. Shot and Killed as Result of Feud. Asheville, N. C.-Bas Browing, of Haywood County, was shot and killed in the Bank of Waynesville by Allen Green, of the same county, as a result of an old feud. The killing occurred when the bank was filled with people, and created much excitement. Green was placed in iail at


Article from Dakota Farmers' Leader, February 4, 1910

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Article Text

Michigan Bank Suspends. The private bank of L. Rudd & Son, of Bronson, Mich., has closed. A notice posted on the door said that owing to slow collections the bank was temporarily unable to meet its obligations. The deposits are about $70,000.