9193. First National Bank (Hillsdale, MI)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
168
Charter Number
168
Start Date
May 13, 1893
Location
Hillsdale, Michigan (41.920, -84.631)

Metadata

Model
gpt-5-mini
Short Digest
55655d65

Response Measures

None

Receivership Details

Depositor recovery rate
43.9%
Date receivership started
1934-04-03
Date receivership terminated
1940-11-09
Share of assets assessed as good
41.3%
Share of assets assessed as doubtful
24.9%
Share of assets assessed as worthless
33.8%

Description

An 1893 news list names the First National Bank of Hillsdale among bank failures, implying suspension/closure. No article describes a depositor run. 1934 articles reference a receiver (Schram) for the bank holding a judgment against Hillsdale College, confirming a receivership existed by that time. Cause of the 1893 failure is not stated in the provided texts.

Events (4)

1. December 23, 1863 Chartered
Source
historical_nic
2. May 13, 1893 Suspension
Cause Details
Listed among many bank failures in a Washington dispatch; no specific cause given in article.
Newspaper Excerpt
Many Bank Failures. WASHINGTON, May 13.-The following bank failures are announced to-day: First National bank of Hillsdale, Mich.;
Source
newspapers
3. April 3, 1934 Receivership
Source
historical_nic
4. August 21, 1934 Receivership
Newspaper Excerpt
The judgment obtained by Schram for the bank was directed at Davidson as well as at the college. ... money has been provided to take care of the amount involved ... the judgment on note by the First National receiver, apparently was averted today President Wilfred Mauck of the college said money has been provided to pay the note.
Source
newspapers

Newspaper Articles (5)

Article from Waterbury Evening Democrat, May 13, 1893

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Article Text

Many Bank Failures. WASHINGTON, May 13.-The following bank failures are announced to-day: First National bank of Hillsdale, Mich.; State bank, Knox, Ind ; City bank, debion, Ind.; Commercial bank, Morristown, Ind. J. W. Poris and J. Shannon, who control several banks in Indiana, have ordered them all to suspend.


Article from The Grand Rapids Press, August 21, 1934

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Article Text

HILLSDALE THREAT REPORTED AVERTED Prexy Mauck Declares Cash Available to Prevent Campus Attachment. Hillsdale, Aug. The danger-never very chunk of the Hillsdale college cammight be sold to satisfy $10.709 judgment held by the First National receivapparently was averted TuesPresident Wilfred Mauck of college that money has been to the amount within the next few and that "there be to the college While President declined to give the source of the money. was to have been raised through donations from friends and former students of the college. The money was borrowed from the bank by the college on note, which James E. Davidson, Bay City banker. indorsed as president of the college board of trustees. The judgment obtained by B. Schram as receiver for the bank was directed at Davidson as well as at the college. of attachment was sent from Detroit Monday as the first step in procedure that might have resulted levy on that tion of the campus including the Mauck hall girls dormitory: Ambler the home nomics building and several fraternity and sorority houses. The Appian Way, built by the Romans, was 16 feet wide with 2foot 18 inches high and had of solid stone crete onry from 3 to feet thick.


Article from Lansing State Journal, August 21, 1934

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Article Text

HILLSDALE CAMPUS PLAYGROUND PICNIC NOT BE ATTRACTS OVER Attachment Move by Detroit Bank Brings Immediate Fund to Pay Note HILLSDALE 21 The very large of the Hillsdale college campus might be sold to satisfy judgment on note by the First National receiver, apparently averted Pres. Wilfred Mauck of college said "money has provided amount involved within the next few days.' and that "there will be no embarrassment the While President Mauck declined to give the source of the understood have raised through donations from friends and former students the college. The money was borrowed from the bank college which James Bay City banker endorsed president the college board The judgment tained by Schram for the directed at Davidson as well the college Mexico contains breeding grounds for millions which are valued highly as food by the Potter Park Is Scene of Out. ing Following Several Title Contests More than 600 children of Lansing's playgrounds were gathered at Potter park Tuesday for the first annual cityplayground The children gathered at the park early Tuesday morning having up the through the courtesy of the City Transport corporation. They from the playgrounds Scott field Potter Main street Ferris park, Holy Cross, Willow street, avenue, and Oak park Stage Title Games Final games in ball. volleyball and ball were staged the morning Sycamore park dinner at finals in special tournaments got under way, and the chilof each playground entertained brief stunt The outing scheduled to o'clock when buses were children to their would be home in time for supper


Article from The Herald-Press, August 21, 1934

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Article Text

AVERT SALE OF PART OF HILLSDALE CAMPUS TO PAY $10,000 NOTE HILLSDALE Mich. Aug 21 (AP). very great-that large chunk of the Hillsdale college campus might be sold to satisfy judgment on note by the First National receiver, apparently was averted today President Wilfred Mauck of the college that "the money has been provided take care of the amount involved within the few days, and that "there will be no the college While President Mauck declined to give the source of the money, was understood to have been raised through donations from friends and former students of the college. The money was from the bank by the college on which James Bay City banker, endorsed as president the college board of trustees. The judgment obtained by Schram receiver for the bank was directed at Davidson as well the college. of attachment was sent from Detroit yesterday as the first step that might resulted in levy on of the including the field house, Mauck hall, girls' dormitory, Ambler hall, theh ome building, and several fraternity and sorority


Article from The Niles Daily Star, August 22, 1934

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Article Text

Hillsdale College Campus Is Rescued Mich., The great-that à large chunk of the Hillsdale college campus might be sold to satisfy a $10. 709 judgment on held by the First National Bank receiver apparently averted President Wilfred Mauck of the col. lege the money has been provided to care of the amount involved the next few and embarrass