9309. New Buffalo State Bank (New Buffalo, MI)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
December 29, 1931
Location
New Buffalo, Michigan (41.794, -86.744)

Metadata

Model
gpt-5-mini
Short Digest
e8a6b7a0

Response Measures

Full suspension

Other: Receiver appointed and receivers' salary adjustments reported over following years.

Description

Articles report the New Buffalo State Bank closed its doors by board vote Dec 1931 after steady withdrawals tied to the closing of other banks. A receiver (Herbert Roe) was appointed and was active by Feb 1932; the bank remained in receivership through 1933. Thus a run led to suspension and permanent closure/receivership.

Events (3)
1. December 29, 1931 Run
Cause
Local Banks
Cause Details
Continual slow withdrawals triggered by the closing of other banks in the area
Measures
Board voted to close the bank; doors closed including safety deposit box access
Newspaper Excerpt
Steady Withdrawals Blamed; ... New State closed its doors here this upon vote of its board of directors, called in early today. The voted to close the bank because of its weakened by continual slow withdrawals upon the closing of other banks
Source
newspapers
2. December 29, 1931 Suspension
Cause
Local Banks
Cause Details
Bank closed by board vote after withdrawals related to other local bank closings
Newspaper Excerpt
New State closed its doors here this upon vote of its board of directors... The voted to close the bank because of its weakened by continual slow withdrawals upon the closing of other banks
Source
newspapers
3. February 25, 1932 Receivership
Newspaper Excerpt
Herbert Roe began his work as receiver of the New Buffalo State Bank Saturday
Source
newspapers

Newspaper Articles (11)
1. December 29, 1931 The Herald-Palladium Benton Harbor, MI
Article from The Herald-Palladium, December 29, 1931

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Article Text

NEW BUFFALO STATE BANK Steady Withdrawals Blamed; Is Likely NEW BUFFALO, Dec. New State closed its doors here this upon vote of its board of directors, called in early today. The voted to close the bank because of its weakened by continual slow withdrawals upon the closing of other banks the accordto William representative of the state banking department to arrive take Meanwhile the bank closed including holders of safety deposit boxes. Capitalized At The Buffalo capitalized for $20,000. Its the close last fiscal period, 29, were No estimate attempted on dsposits Officials of the bank would make today the bank's or future developments, to until state bank would take charge. Officers of the bank are: President, Knight; president, Eldridge; Littlejohn. Hart Bank HART, Counbank, $40.failed to open its doors for today. the door the that had been closed order the board of direcThe organized in 1884 as the Citizens Exchange one two such institutions in Hart.

2. February 25, 1932 The Berrien County Record Buchanan, MI
Article from The Berrien County Record, February 25, 1932

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Mrs. Herbert Roe is Mr. and Mrs. Charles Harper of South Bend were Buchanan callers Saturday. Herbert Roe and son, Alfred, Mrs. Clara Richards, were in South Bend, Monday. Mr. and Mrs. H. H. Hansen, who have been quite ill, are improving. Mrs. Lyle Erskine is ill at her home on Moccasin avenue. Miss Alice Rockenbach is ill with influenza. Mr. and Charles Treat are reported to be improved after four weeks of Herbert Roe began his work as receiver of the New Buffalo State Bank Saturday Donald Blaney is able to be back in school again with his injured knee in cast. Mrs. Irvin and family are moving this week from 322 Cecil avenue to 200 Portage. Miss Helen Keltner South Bend spent the week-end at the Manual Conrad home. wanting room and board in the country, call Mae Best, phone 110F13. Rates reasonable. 8t1c Miss Helen Hanlin is back at her post the English department this week, after an illness of several days. benefit for Encampment Saturday night. Stic Mrs. Glenn Smith was recalled to Chicago yesterday by illness in the family of her son, Dr. Rex Smith. Mr and Mrs. Sig Desenberg arrived home Tuesday from visit at the home of their son, Atty. Harold Desenberg, Detroit. A1 and Father S. Raemer of Notre Dame were the guests Friday evening at the home Mrs. Irvin. Mr. and Mrs. Steven Nelson of Chicago were week-end guests at the home Mrs. Frank Rinker. The ladies are sisters. and Mrs. Melvin Brinkley South Bend were guests at the home of Dr. and Mrs. Paul lace. Misses Erma and Ferne Rollings Kalamazoo spent the the home of their uncle and aunt, and Arney Mrs. Claude Root and Miss Madge Smith of Chicago, spent the week end at the home of Mrs. Grace VanHalst. Mr. and Mrs. Herbert Hanover and Mr Mrs. Charles Rastaetter called at the home of Mr. and Mrs. James Barr Elkhart, Sunday the latter being ill. Mr. and Mrs. Ozza Clement have moved from the Charles Frame house on Chicago street to one of the Harry Beck properties on Moccasin Mr. and Mrs. Roy Smith of Ryner, Ind., former residents of Buchanan, spent the at the home the latter's brother, Breme Reid on North Portage. Mrs. Lydia Dempsey went to St. Sunday visit her mother, Mrs. Lydia Paul, who living with another daughter, Mrs. Wooley and Mrs. James Boone left for an indefinite visit the home their daughter, Mrs. W. Creviston, at Garrett, Ind. party Saturday Nite. 8t1c Mr. and Mrs. James D. Cooney and Jamie, of Chicago, and Mrs. K. Evans of Corydon, Ia. guests Sunday at the home and Mrs. The local fire answered alarm Friday to the William Kellmaking run on Michigan street. property There was no damage, fire beconfined to the chimney and Mrs. Ben Matzenbaugh arrived Tuesday from Long Island City, visit with the former's mother, Mrs. Emma Matzenbaugh, and his sister, Mrs. Carl Remington. Mr and Mrs. Earl Longworth have moved back to the Edgewood farm, south town, and Mr. and Mrs. Charles Frame, who have been Edgewood farm, are moving back their home on Chicago street. William Shook and family have moved to Rose Garden farm, which they have leased. Pitcher and wife expect to move to town about April Miss Ruby Conrad of Cleveland, who employed the Engineering department of the Westinghouse Electric was weekend guest of her parents, Mr. and Mrs. Mamuel Conrad. Mrs. Mark Smith left Friday for her home Red House, after visit at the home her brother, Joseph Forgue. She was on her way home from visit with at Hominy, Okla. Mr. and Mrs. George Gowland Sunday dinner, Mr. and Mrs. Daniel Weirick son, Ivan, of LaPorte, Miss Jessie Gowland of Buchanan. Mr. and Mrs. Frank Lawson were afternoon guests. Miss Emma Bohl came from State Teachers' college to spend the with her ents, Mr. and Mrs. William Bohl. She on her return by Miss Mabel Meyers, who visiting there. Mr. and Mrs. Charles Sebasty, Mr. and Mrs. Harold Sebasty, Mr. and Mrs. George Lano and H. S. Bristol and sister, Weikattended card party at the home of and Mrs. Hess of Galien Tuesday evening. Mrs. Dominic DiGiacomo, in company with her brother, Frank Rudoni of Dowagiac, left Monday morning for St. Louis, Mo., where Mrs. Rudoni is patient in hospital, where she underwent an operation. They expect to be week Rudoni will return home with them. Mrs. Harry Paddock and two children, Jane and Anna, of Niles, Mrs. Anna Buckner of Benton Harbor, Mrs. Margaret McGuire and James, of Three Oaks, Mr. and Mrs. Victor Vandervort Coloma, and Messrs. Carroll and Ed Ryan of Newcastle, were Sunday guests at the home of Mrs.

3. February 27, 1932 The Herald-Press Saint Joseph, MI
Article from The Herald-Press, February 27, 1932

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(First STATE IN THE COURT THE COUNTY OF BERRIEN, IN CHANCERY RUDOLPH REICHERT, State Banking 8040. NEW BUFFALO STATE BANK, for Benton Michigan. Defendant At session the the day White, Circuit came to heard upon petition the New the same said receiver make legal for against New Buffalo same Herbert Roe, of the of New County, and said receiver of IS that this once each for AND DECREED in any against (90) days the the for the distribution assets said bank not when dividends are or distribution CHAS. WHITE, Judge. STATE OF MICHIGAN (Seal) COUNTY OF BERRIEN Benjamin Bittner, Clerk of the Circuit Court for the County do that the is true correct of Rudolph Banking New State New Michigan tered and above entitled in said appears record That the original true and the whole have hereunto set and affixed of this 26th day of BENJAMIN H. BITTNER, Clerk (Last Insertion May 14) (12 Sats.) (First Publication: February 27, 1932) SALE By failure to principal sum sehereinafter at maturity, default has been in payment and that Burton Edna May Johns, husband and wife, near County, MichMichMichigan, dated 24th day November, 1926, recorded office in 158 page 524, was order the Circuit the County Berrien, In State defendant, law and order said Bank mortgage, principal being and remaining there is this principal the Sixty-three and for hundred sixty-six and aggregating sixtynow and or law having been instituted the by mortgage or any thereof, aforesaid, THEREFORE, virtue the power of sale tained said mortgage, the premises scribed the mortgage as that part south section five range west, described six feet of said degrees twenty-three hundred and 3-10 four fifty-six 2-10 feet to north line said property: fifty-four 2-10 feet to the said 8-10 feet place four and that part of the south half of described thirty-five and 8-10 feet of the said west hundred and 5-10 feet to center and along center road one hundred twenty feet thence north seventy-two degrees two hundred thirtyand thence thirty west one hunfeet Lake minutes along Michigan feet north line said property: 5-10 feet private road feet wide off easterly side, lying and being in the Township the Berrien and State lic auction the bidder at front door of the House in City St. Joseph said 23rd day May A. D. ten o'clock in the the amount due on said mortgage and all Dated, BENJAMIN KRAL, Receiver Stevensville Mortgagee. CHARLES W. STRATTON, Attorney for Receiver. Business Address: St. (Last Publication: May 21, 1932)-13 Sate.

4. March 5, 1932 The Herald-Press Saint Joseph, MI
Article from The Herald-Press, March 5, 1932

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of South thence North line South State Let day May rien the City Joseph, with and the attorney fee allowed by Dated February ROLLAND BARR, Mortgagees. St. May Sats) OF IN COUNTY OF BERRIEN, IN CHANCERY RUDOLPH E. REICHERT, NEW BUFFALO BANK, New Buffalo Defendant. At session Court, the 26th Charles White, This came be heard upon Roe, this against the State the said receiver and legal motion Attorney for receiver, ordered against the New Buffalo same Herbert of the of hereby to blank of that for filing claim against (90) days from the shall of said not proved dividends are or RIFORD, Judge. for Michigan STATE OF MICHIGAN OF Clerk the Court the County do that the and is correct copy State Buffalo New and filed entitled record the original and In set hand and the said St. this BENJAMIN (Seal) (Last Insertion May 14) (12

5. May 5, 1932 The Herald-Palladium Benton Harbor, MI
Article from The Herald-Palladium, May 5, 1932

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BANK RECEIVERS' SALARIES SLASHED BY JUDGE WHITE A readjustment of the salaries of receivers of state banking institutions in Berrien county was announced by Judge Charles E. White today. On recommendation of officials of the state banking department the judge signed orders which reduced the salaries of the various receivers to become effective May 1. Judge White stated today that the fixing of salaries for bank receivers on the new scale met with the approval of the state banking department. The reductions of the receivers salaries were fixed as follows: Berrien County Bank, Benton Harbor from $6,500 to $4,800. Benton Harbor State Bank from $6,000 to $4.800. Bridgman State Bank from $5,000 to $3,600. New Buffalo State Bank from $2,500 to $2,000. Stevensville State Bank from $4,000 to $2,800. Buchanan State Bank from $4,000 to $3,000. daughters, Mrs. Al Fuller and Mrs. Allson Post, both of Livingston. Funeral services will be conducted at 2 o'clock Saturday from the residence and at 2:30 o'clock from the Methodist church at Bridgman. Burial will be in Greenwood cemetery at Bridgman. The United States has nearly as much invested in the City of Shanghai as it has in the whole of Japan$356,000,000 and $500,000,000 respectively.

6. May 6, 1932 The Niles Daily Star Niles, MI
Article from The Niles Daily Star, May 6, 1932

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Berrien County News Briefs ST. JOSEPH-A readjustment of the salaries of receivers of state banks in Berrien county was announced by Judge Charles E. White. On recommendation of the state banking department, the judge signed orders which reduce the salaries of the various receivers, effective May Judge White stated that the fixing of salaries for bank receivers on the new scale met with the approval of the state banking department. The reductions were as follows: Berrien County bank, Benton Harbor, from $6,500 to $4,800, Benton Harbor State bank, from $6,000 to $4,800. Bridgman State bank, from $5,000 New Buffalo State bank, from $2,500 to $2,000. Stevensville State bank, from $4,000 to $2,800. Buchanan State bank, from $4,000 to $3,000. BENTON HARBOR-Warm balmy spring weather has not only brought out blossoms and buds for festival week, but has attracted tropical visit ors to the twin citles in the form of a blonde haired tarantula and a pair of alligators. Thursday morning, while unloading bananas at the A. & P. store on East Main street in Benton Harbor, a large tarantula was discovered. He was promptly but cautiously deposited in a large glass jar. The giant spider differs from the several that have been seen here from time to time in that its hair is light brown rather than On display in the meat window of the same store are pair of alligators, who slither slowly around a display of lobsters and yawning "toothfully" at spectators. BENTON HARBOR-The Blossom Queens' Alumni association, an organizatoion comprised of former queens from various cities of Michigan, was formed Wednesday evening at a banquet in the Wisteria room at the Hotel Vincent, at which a number of 1931 queens were the guests of Elwyn Simmons, a member of the Blossom festival committee. Those in attendance were the 1931 queens from Niles, Berrien Springs, Bridgman, Three Oaks, Three Rivers, Dowaglac, South Haven, Ypsilanti, Watervliet, Sturgis and Flint. Officers were elected as follows: President, Mrs. Leo Dwan; vice president, Mrs. George Parren: secretary, Gussie Leder, of Bridgman; Angelita Harmes, South Haven, and Therese Briggs, St. Joseph, co-chairmen. The purpose of the organization is to help sponsor worthwhile projects pertaining to the success of future Blossom week events, such as helping girls to enter queen cotnests, sponsoring floats and other enterprises. Annual dues are to be 50 cents each, and it is expected 600 members will enter the organization as a starter. Each 1931 queen is expected to get her predecessors to join this organization. This year's queens will be eligible for membership after Sunday. BRIDGMAN-William Baldwin, 87 for nearly 80 years a resident of Livingston, died Thursday morning at his farm home \after a long illness. He had been confined to his bed the last six months. Mr. Baldwin was born in Pennsylvania Feb. 11, 1835, and removed with his parents to Michigan at an early age. The deceased is survived by two daughters, Mrs. Al Fuller and Mrs. Allson Post, both of Livingston. Funeral services will be conducted at two o'clock Saturday from the residence and at 2:30 o'clock from the Methodist church at Bridgman. Burial will be in Greenwood cemetery at Bridgman.

7. February 16, 1933 The Galien River Gazette Three Oaks, MI
Article from The Galien River Gazette, February 16, 1933

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New Buffalo Planning This evening (Thursday) deof the closed New Buffalo bank at the school are meeting auditorium, at to discuss the of The receiver reports that there are about $152,000 on deposit.

8. June 6, 1933 The Herald-Press Saint Joseph, MI
Article from The Herald-Press, June 6, 1933

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RECEIVERS Salaries, Effective July Announced by White new schedule of salaries for ceivers of closed state banks Berrien was today Judge Charles White in the Berrien circuit court. Letters advising the receivers that their would be reduced on July salaries and fees fixed by the state banking have been mailthe receivers. The new salary schedule for reivers of banks Berrien' county follows: Worth receiver for the Berrien County bank, reduced from $3,600 to $2,500. Harry Boyce, Buchanan State bank, reduced from 2,000. Herbert Roe, receiver of the New Buffalo State bank, reduced from $1,500. Gore, an State bank, reduced from $3,000 $1,800. This the second reduction in ceivers' salaries which has made through the court and state banking department since the receivers were first some the cuts now more than per cent. case of Bean of the Berrien County bank the first placed and now to the been made in the salaries bank the of the state banking depart-

9. June 6, 1933 The Herald-Palladium Benton Harbor, MI
Article from The Herald-Palladium, June 6, 1933

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SALARIES OF RECEIVERS Axe Falls On Pay Of Those In Charge Of Berrien Institutions Receivers for state banks in Berrien county will draw less pay after July Orders just issued by Circuit Judge White call for in the salbank receivers running the way from $1,000 to Judge White's salary reduction orders follow issued the state banking department Lansing. The salary reductions include the following W. Worth Bean, receiver for the Berrien County bank, reduced from to $2,500. Harry Boyce, Buchanan State bank, reduced from $3,000 to $2,000. Herbert Roe, receiver the New Buffalo State bank, reduced from $2,500 Gore, Bridgman State bank, reduced from $3,000 $1,800. This the second reduction in ceivers' salaries which have been made through the court the state banking department since the various receivers were first appointed some instances the cuts now amount to more than percent. In the case Receiver Bean the Berrien County bank the salary was first placed $6,000 and down $2,500. Similar cuts all over the state been made the salaries bank upon the recommendation of the state banking department.

10. June 7, 1933 The South Bend Tribune South Bend, IN
Article from The South Bend Tribune, June 7, 1933

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BERRIEN BANK RECEIVERS SALARY CUTS ST. JOSEPH, Mich., June Receivers for closed banks in Berrien county have been notified of drastic reductions in their salaries. In one instance, that of the ceiver for the closed Berrien County bank in Benton Harbor, the salary has been reduced two installments from $6,000 per year to $2,500. Other receivers notified of salary reductions effective July Harry Boyce, Buchanan State bank, reduced from $3,000 $2,000: Herbert Roe. New Buffalo State bank. $2,500 to and Gore, Bridgman State bank, $3,000 to The new salaries are in accordance with the fees established by the state banking

11. May 31, 1934 The Herald-Press Saint Joseph, MI
Article from The Herald-Press, May 31, 1934

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LOCAL NEWS IN BRIEF Officiates as Bugler Richard Hill, Jr., of St. Joseph, was the bugler at yesterday's Memorial day exercises at the memorial arch at the foot of Colfax avenue, Benton Harbor, under auspices of Algonquin chapter, Daughters of the American Revolution, Bugler Hill blew the assembly and sounded taps. The D. A. R. group, with the regent, Mrs. J. D. Morrison, placed the wreath on the tablet in the archway at the ship canal side of West Main street, which contains the names of Benton Harbor World war soldiers. Another wreath was placed on the tablet at the court house in St. Joseph, containing the names of Berrien county World war veterans. Attorney W. M. Cunningham, who gave the two fine addresses, is a World war veteran and the son of & well known member of the D. A. R., Mrs George Cunningham, Benton Harbor. Public Is Invited The public is invited to the operetta, "A Trip Around the World in 80 Minutes,' to be presented tonight at 8 o'clock at the Benton Harbor junior high school, for the benefit of the junior high school orchestra. Mrs. Victoria Boothby and Mrs. Heien Cady Courtright, both well known twin city artists, have written and arranged costume operetta, in which parts will be taken by 50 children, dancing pupils of Mrs. Boothby and vocal students of Mrs. Courtright. Place Memorial Tablet Daughters of Union Veterans held a beautiful and impressive memorial service for Mrs. Marguerite Schmuhl Doebeli yesterday afternoon at her grave in Crystal Springs cemetery, Benton Harbor A bronze marker, and a wreath were placed for Mrs. Doebeli, who was charter member of Nancy Hanks Lincoln tent. Flowers were placed for Mrs. Helen Van Bergen. also charter member Appreciation is extended to the Veterans of Foreign Wars, who attended the service in body, furnished a firing squad, and played taps. Three Move Offices Three offices in the recently remodeled 505 building at the corner of Lake boulevard and Pleasant street were opened today. Dr. John Schram moved his offices from the Zick building on State street; Dr. R. C. Allen moved from his old location in the Commercial National Bank building, and Attorney A. Edward Brown moved his law offices from the Peoples State Bank building to the new office building. Bank Receiver Files Sut Suit to collect the balance due on a $500 promissory note was filed in the Berrien county circuit court today by Herbert Roe, receiver of the New Buffalo State bank, against Edward and Louise Grieger, of New Buffalo. The note was dated December 8, 1931, and there is a $330.60 balance due. judgment in the sum of $500 is asked. Attorney I. W. Riford represents the plaintiff. will be continued when the Christian Undergoes Minor Operation Leadership Training class meets at Miss Helen Jackson of the Hatfield 7:30 o'clock tomorrow night at Zion apartments submitted to a tonsil opEvangelical church. The Rev F. C. eration this morning at Mercy hospiSchmidt will direct the study. tal. Attend Graduation Exercises Mrs. John Habel of this city and her three daughters, Mrs. Ted Brass of 912 State street, Mrs. Everett Schriner of Coloma, and her daughter, Genevieve, and Mrs. Oliver Habel of Benton Harbor and her daughter, Janis, have returned from Detroit, where they attended the graduation of Mrs. Habel's granddaughter, Helen Marie Gunn. Exercises were held at St. Leo's church on Grand River, Detroit. for class of 40, with most impressive processional. Miss Gunn is the oldest daughter of the former Helen Bell Habel, who was graduated 20 years ago last Friday from the St. Joseph high school with class of 36, largest ever to graduate from the school up to that time. Gives Commencement Address Attorney and Mrs. H. S. Whitney, and son, Neville, and Mrs. Whitney's mother, Mrs. Lyda Rackliffe, Benton Harbor, who were expected home today from Springfield, S. D., will not arrive home until Saturday or Sunday. Mrs. Whitney, well known speaker, and president of the Michigan W. C. T. U., gave the annual dd Tuesday night at the state Normal college at Springfield, of which T. A. Harmon, her brother-in-law. is the president. Mr. Harmon is well known in Michigan and western educational circles. Liquor Blanks Available Application blanks for merchants who wish to sell liquor as specially designated stores may be obtained from the Benton Harbor state liquor store operated by the Michigan liquor control commission on East Main street, according to today by George R. Peterson, manager. Assistance will also be given to those who apply for the liquor-selling forms. Centennial Committee to Meet The Centennial of the St. Joseph Chamber of will hold a special meeting at the chamber of commerce offices tonight at 7:30 o'clock to discuss plans for the pageant and other events on the centennial celebration program. Placed on Probation Henry Blank, 53, of 1103 State street, pleaded guilty to 3 charge of assault and battery when arraigned before Justice John W. Rody today. He paid costs of $6.25 and was placed on probation for 90 days. Blank was arrested Tuesday night by St. Joseph police on complaint of his wife. Sues to Collect Note Suit to collect $700 promissory note was filed in the circuit court here today by Arthur F. Stoll, Niles, against James W. Atchinson, Niles. The note was dated October 17, 1932, and the balance due at this time is $779.85. Attorney Charles H. Cavanaugh, who the plaintiff, asks judgment in the sum of $850. Training Class to Meet The study of the Old Testament