9107. First Commercial & Savings Bank (Durand, MI)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
savings bank
Start Date
November 16, 1911
Location
Durand, Michigan (42.912, -83.985)

Metadata

Model
gpt-5-mini
Short Digest
d34e77f7

Response Measures

None

Description

State banking commissioner Doyle closed the First Commercial and Savings Bank of Durand for irregularities (reported in newspapers 1911-11-16). The bank reopened Dec 14, 1911 and deposits exceeded withdrawals; an anticipated run did not materialize. No clear, discrete depositor run is described, so this is a suspension with reopening.

Events (2)

1. November 16, 1911 Suspension
Cause
Government Action
Cause Details
Closed by state banking commissioner Doyle because of irregularities discovered by regulator.
Newspaper Excerpt
Banking Commissioner Doyle has closed the First Commercial and Savings bank of Durand (Mich.) on account of irregularities.
Source
newspapers
2. December 14, 1911 Reopening
Newspaper Excerpt
Durand, Mich., Dec. 14-That the confidence of the people of Durand in the First Commercial and Savings bank, which was closed recently by the state banking commissioner, is unshaken has been demonstrated since the reopening of the institution Monday morning. A run had been prepared for, but instead new deposits were received, outweighing the withdrawals. The surplus has been cut from $7,500 to $2,500 ... (Diamond Drill, 1911-12-16).
Source
newspapers

Newspaper Articles (3)

Article from Audubon Republican, November 16, 1911

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Article Text

With their throats cut, the bodies of Jacob Lutz. seventy-five years old, and his wife were found in their home at Gallant. Ala. The supposition is they were murdered by thieves. Mayor Edward H. Crump of Memphis, Tenn., was re-elected in the municipal election by a majority of approximately 2,500 votes over Former Mayor Joseph J Williams. . The litigation which the federal government began four and a half years. ago to break up the American Tobacco company as a monopoly in restraint of trade approached completion by judicial acceptance by the federal circuit court at New York, with a few modifications, of the plan which the tobacco company drew up for dissolution, in accordance with a mandate of the United States Supreme court. Solicitor General Lehmann has requested the Supreme court of the United States to rule that the "running of a corner" on the New York stock exchange was in violation of the Sherman anti-trust law. Banking Commissioner Doyle has closed the First Commercial and Savings bank of Durand (Mich.) on account of irregularities. Two American born Chinese women were registered as voters at Oakland, Cal. One wore Chinese garb and the other American raiment. The steamship Victoria, the last passenger liner to leave Bering sea this year, has arrived at Seattle from Nome, Alaska, with $1,000,000 in treasure and 370 passengers. Rev. Joseph Lambert, the Providence (R. I.) minister who performed the Astor-Force marriage ceremony. has resigned his pastorate because of criticism of his act and will enter business. Father William Murphy, Catholic priest at the town of Beaver Crossing. Neb., is dead as the result of an automobile accident. He gained prominence by reason of his long continued controversy with the late Bishop Bonacum, who excommunicated him. Kentucky, for years considered in the balance between the Democrats and Republicans, went back into the ranks of the Democracy in a landsline. Returns indicate that James B. McCreary, Democrat, has been elected governor by from 20,000 to 40,000 majority An important clause in the system of examinations is to go into effect at the Naval academy soon, the exemption of midshipmen obtaining a certain percentage being abolished. Cleveland, which two years ago went Republican, returned to the Democratic fold, electing Newton D. Baker mayor over Frank G. Hogan, Republican, by about 18,000 majority. The entire Democratic city ticket was elected with the exception of five councilmen. Massachusetts closed the most bitter campaign in its recent history with the closest election in years by reelecting Governor Eugene N. Foss by a plurality of 7,000. The election in New York was decidedly a Republican victory. In the state the Republicans recovered contral of the assembly from the Democrats, more than reversing the positions of the parties in that body, and in New York city they greatly reduced the Tammany pluralities. Three sworn jurors and a talesman passed for cause was the showing in the McNamara murder trial in Los Angeles, Cal., at the end of five weeks of court. Counsel hope for a full jury box by Christmas Immanuel Baptist Church of Cambridge, Mass., decided, after several women had wept and prayed at its meeting, not to accept the resignation of Pastor C. V. T. Richeson, in jail on a murder charge. William Clark Russell, the writer of stories of the sea, died in London. He had been bedriden since April last. Mr. Russell was born in New York in 1844. Foreign Rapine and butchery, fire and general desolation, hold sway in Nanking, China. Twelve thousand Manchu soldiers, backed by an order authorizing a general massacre of Chinese, are murdering helpless men, women and children throughout the native city As fast as they have looted a given section and slain every living thing in their path the Manchus are applying the torch. Mme. Marie Sklodowaka Curie of the University of Paris has been awarded the Nobel prize in chemistry for her discovery of radium. Prof Wilhelm Wion of Wuerzburg university was awarded the prize in physics


Article from The Yale Expositor, November 16, 1911

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Article Text

to death. Elias Rogers, president of the Crows Nest Pass Coal company, is authority for the statement that the strike which has prevailed for seven months at Fernie and Michel, B. C., has resulted in the loss of $4,500,000 in wages. Six cadets at the Minnesota university armory, Minneapolis, were bound and compelled to eat yellow soap as a part of their initiation into the "Scabbard" and Blade," a national secret order. A jury of women at Los Angeles, Cal., disagreed as to a verdict in the case of a speeding motorcyclist and was discharged. Several expressed worry over their absence from home when time arrived to get dinner for their husbands. The Virginia & Rainy Lumber company has sent to the shipping docks at Duluth the largest trainload of lumber ever shipped from one of the largest sawmills in the world. There were 100 cars in the train, averaging 20,000 feet to the car, making about 2,000,000 feet in all. Uncle Joe Cannon is not a candidate for president. He said so himself just before the steamship Cristobal, bound for Panama, left New York. "I'm too old, altogether too old," said the former speaker when asked if he expected to bring back a presidential bee from an inspection trip of the Panama canal about December 1. The Twenty-eighth infantry returned from San Antonio, Tex., to Fort Snelling. just eight months to a day after its departure for the mobilization on the Mexican border. Released from Jackson prison Walter Hudson, thirty years old, of Pontiac, Mich., found himself heir to $25,000 left by a distant relative when he was serving his sentence. President Taft has granted a 90-day reprieve to Mrs. Mattie E. Lomax, a colored woman of Washington sentenced to suffer the death penalty for murder of her husband. With their throats cut, the bodies of Jacob Lutz, seventy-five years old, and his wife were found in their home at Gallant. Ala. The supposition is they were murdered by thieves. The litigation which the federal government began four and a half years ago to break up the American Tobacco company as a monopoly in restraint of trade approached completion by judicial acceptance by the federal circuit court at New York, with a few modifications, of the plan which the tobacco company drew up for dissolution, in accordance with a mandate of the United States Supreme court. Solicitor General Lehmann has requested the Supreme court of the United States to rule that the "running of a corner" on the New York stock exchange was in violation of the Sherman anti-trust law. Banking Commissioner Doyle has closed the First Commercial and Savings bank of Durand (Mich.) on account of irregularities. Negotiations for a $3,000,000 gas consolidation have been completed at a conference held in Cleveland and practically all of the natural gas business of western Ontario passes into the control of Buffalo and Canadian interests. Rev. Joseph Lambert, the Providence (R. I.) minister who performed the Astor-Force marriage ceremony, has resigned his pastorate because of criticism of his act and will enter business. Three sworn jurors and a talesman passed for cause was the showing in the McNamara murder trial in Los Angeles, Cal., at the end of five weeks of court. Counsel hope for a full jury box by Christmas. Personal William Clark Russell, the writer of stories of the sea, died in London. He had been bedriden since April last. Mr. Russell was born in New York in 1844. Mrs. Belva A. Lockwood of Washington, D. C., the pioneer of equal suffrage, denied a statement in a Michigan newspaper that she is ill and penniless. Mrs. Lockwood is eighty-one


Article from The Diamond Drill, December 16, 1911

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Article Text

DURAND BANK MAKES GOOD Prepared for Run, Deposits Are Greater Than Withdrawals. Durand. Mich., Dec. 14-That, the confidence of the people of Durand in the First Commercial and Savings bank, which was closed recently by the state banking commissioner, is unshaken has been demonstrated since the reopening of the institution Monday morning. A run had been prepared for, but instead new deposits were received, outweighing the withdrawals The surplus has been cut from $7,500 to $2.500, which still leaves the bank $2,500 better off than when it first opened.