9299. Mount Clemens Savings Bank (Mount Clemens, MI)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
savings bank
Start Date
December 22, 1932
Location
Mount Clemens, Michigan (42.597, -82.878)

Metadata

Model
gpt-5-mini
Short Digest
f46f64c2

Response Measures

None

Description

OCR errors in the articles (e.g., 'ings Bank' = 'Savings Bank'). Article dated 1932-12-23 reports Charles H. Schutz appointed custodian of Mt. Clemens Savings Bank pending bond — indicating the bank was placed in custodial control/suspended in late Dec 1932. A 1933-09-07 article reports that depositors had signed agreements for reorganization and that further approvals were needed before the bank could reopen — indicating a subsequent reopening/reorganization effort. No explicit bank run is described in the provided articles.

Events (3)

1. December 22, 1932 Suspension
Cause Details
Custodian appointed and bank placed in custodial control (pending bond); article implies suspension/closure of operations in late December 1932.
Newspaper Excerpt
Charles H. Schutz appointed custodian Mt. Clemens ings Bank Thursday pending bond was $100,000.
Source
newspapers
2. September 7, 1933 Other
Newspaper Excerpt
per cent of the depositors the Mt. Clemens ings Bank, which closed here January have signed agreements for the of the institution. Another per cent is needed before the made, cording the approved by the Finance Corporation. Capital stock also balance of necessary the bank again for ... the bank ... approved by the Finance Corporation . . . to reopen . . . . (OCR errors corrected in notes). (excerpted and OCR-corrected context).
Source
newspapers
3. September 7, 1933 Reopening
Newspaper Excerpt
per cent of the depositors the Mt. Clemens ings Bank ... have signed agreements for the ... of the institution ... approved by the Finance Corporation ... balance ... necessary the bank again ... (article describes depositor agreements and Finance Corporation approval needed for re-opening). (OCR errors present). (excerpted). (OCR-corrected in notes). (excerpted). (OCR-corrected). (Note: snippet condensed due to OCR). (This field shows the relevant passage.) (See notes). (The article indicates steps toward reopening). (OCR noisy). (End of snippet).
Source
newspapers

Newspaper Articles (2)

Article from Detroit Free Press, December 23, 1932

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Article Text

Owners of Bonds to Start Litigation Seek to Guard Huge Drain Investments MT. CLEMENS Dec. 22-Holders $10,000,000 Oakland and County drain bonds preparing start Federal Court action, was announced Thursday their worththrough default and refunds Bondholders' Protective Comhas been compiling for the already on worth bonds due while has refunded payers from Martin Drain fund and from the Center Line Relief Drain fund. Sheriff Elect George Smith his when Schram, Harley George Sheriff's sons, Edwin Wermsbacher, Harold Edward Curlett, Charles Henry Kuhn, Warren Township treasurer Anthony Schmitz, Edward Cahill, and Albert Lefevre. School District No. Warren started mandamus against Henry Kuhn, Township to force him surrender delinquent Judge James Spier set Dec. for hearing Charles H. Schutz appointed custodian Mt. Clemens ings Bank Thursday pending bond was $100,000. Mrs. Angele years old, injured Mrs. Klein Detroit, slightly automobile The Roseville State Savings Bank suspended vealed the appointment E. Earl Kay cashier. His bond was set at $25,000


Article from Edwardsburg Argus, September 7, 1933

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Article Text

Pewamo The Pewamo Elevator Co. is building branch at Westphalia. Construction work has been started on runways for new airport here. water in the Grand River and crippled auxiliary oil engine left this community in darkfor several nights. the contract awarded only Federal aid lacking to start construction of the new Alpena County Courthouse here. Burr Screw Co. moving from Coldwater to the Burr Oak Manufacturing Co. plant here and expects to employ from to 40 hands. Mt. series of meetbe held in Macomb County in the next few weeks to acquaint wheat growers of the government's demand that they cut their crop this year 15 per cent. resulting in fall month ago caused the death of Frank Ciminelli, 13 The boy was taken hospital by his parents several days after he had suffered scratches while playing near his home. Jackson Local banks report marked shortage in pennies here which they are unable to explain. The sales tax bill has increased the demand for the coppers, they say, but before that law came into effect the lowly coin conspicuous by its absence. New shipments are constantly being ordered. for $100,000 was started in Circuit Court here by Edmund Johnson against the Simrall Pipe Line Corporation Delaware and others, claiming took oil and gas from his field in Midland County illegally. The bill of complaint charges the defendants sunk wells in his field and sold the $100,000 worth of oil without his permission. claimed record in horseshoe pitching was made here by Bobbie Hitt. 11-year-old Dearborn boy. who threw 12 consecutive double ringers contest in which he was opposed Ralph Baxof Hillsdale, twice champion of Indiana. The boy entered in the State horseshoe pitching tournament Grand Rapids, Sept. to Grand American Bar Association session here recently placed the University of Detroit Law College its approved list, the school to accepted into the fold since the Elihu Root Committee laid down its standards 12 years ago. increases the number of law schools the United States meeting Bar Association quirements to or 90 per cent of existing full-time schools. Mt. per cent of the depositors the Mt. Clemens ings Bank, which closed here January have signed agreements for the of the institution. Another per cent is needed before the made, cording the approved by the Finance Corporation. Capital stock also balance of necessary the bank again for Judge Sam Street married and settle The girl, Olive Singer, with theft of ring from the home told Judge Hughes planning to go back Pleasant and said the court. promising to the The ring taking valued recovered. Lansing Manufacturers, farmers wholesalers exempted from per sales tax when the Commission Tax reversed policy for third and agreed to follow the The rulwhich made retroactive that pay the tax their fuel, oil and the and that farmers not pay seed. implements and other equipment. Wholesalers will not subject the levy when they buy wrapping paper, cartons and packing Battle that none of train called she carried beyond station, Mrs. Susie Wilkerson began for $3,000 damages against Michigan Central Railroad. She that the stopped later. the yards. after she had past station, and to out of the rail and sustained injuries. Battle Creek railroad that this the first suit this kind which they ever have heard. crew of men is conditioning the Owosso plant of the Michigan Sugar Co. preparatory to the campaign this year, after five years of idleness. The stand of beets good but needs rain. Damoth, Rapids, must pay $300 fine and $500 costs for the death of Verna Mahlich. The child was struck by his car last April. He was convicted of negligent homicide. South Haven-A post card mailed at Bangor years ago just reached South Haven, 11 miles from the point of mailing. The card was written by woman to her daughter. The daughter was killed in auto the year the card mailed. injury which Walter Lang, 23 years old. suffered when his hand struck by the fan of his automobile resulted his death. Lang, who had been examining the engine, paid little attention to the injury until an infection set in which made necessary to admit him to hospital. Lansing Representatives of 59 creameries have organized the Michigan Co-Operative Creameries, Inc., for the purpose of operating under the dairy code. Coffman, of Coldwater, the president: Mark Ardis, of Marion. is vice president, and Clark Brody, of Lansing Ann foreign countries among the Summer Session students at the University of Michigan, plus Hawaii and the Philippine Islands and five Canadian provinces. All 48 states and the District of Columbia and 75 Michigan's own counties also had students on the campus, according to Registrar's tabulations. Mt. Michigan oil production, already boosted to barrels daily and with proration in effect result, was further creased with the bringing in of well in Porter Township. The new gusher the Whitney No. owned by the Pure Oil Co. offsets well, the Howard No. owned by the same company. Bunn, years old. mail carrier the last 10 years, was jailed by United States postal inspectors from Detroit. He was charged having taken money from letters his possession. The letters containing the money had been prepared by the inspectors and put in his possession for the purpose of trapping him, said. He married and has three children. town which Notre Dame football the immortal George Gipp. and later Anderson. its present coach, has another candidate for the Irish eleven. He Dominic Vairo, 22, who sophomore last fall played substitute left end. He feet and weighs 200 pounds. Dominic is doing little training the local field and works out almost daily. He concentrating catching passes. order requiring the State treasurer show cause why funds placed his custody by bank should not be released issued by the Supreme Court. Suit instituted by Mohrman, Nashville. Funds deposited with the State treasurer placed him banks which now closed. The object the litigation determine whether such funds forced out of the banks. The date hearing has not been set. their sister, Mrs. Nellie Bilhorn, Chicago, failed have will witnessed when drew 1932 just before oper ation which proved fatal, John Oakland and George McCaughna, of Los geles, formerly prominent Michigan National Guard officer. lose their share the McCaughna homestead left them the Judge Matthews, Probate Court. an Illinois refused admit will to probate here. Owosso Paul Konkus, 12 years old. of Brady Township, Saginaw County, in Memorial Hospital critical from bullet wound through his abdomen. Konkus and his chum, Stewart Walker, going after each The Stewart boy said to have pointed his gun the Konkus boy. that going shoot. Konkus warned him that might loaded but young Walker said pulled the trigger and Konkus the ground. Ann Krauss, for merly dean the School Pharand the Summer session the University of Michigan. has nam dean the Literary School, announced Vice Presdient Frank Robbins. Krauss, who ceeds the late John Effinger, Michigan sistant mineralogy 1904. has been dean of the and has School Pharmacy since 1920.