Ohio S&Ls face three day shutdown amid insurance fears
Ohio Governor Celeste ordered about 70 savings and loan institutions insured by the Ohio Deposit Guarantee Fund to close for three days, disrupting customers who were reassured their money is safe. City Loan and Savings in Lorain remained closed. executives claimed no trouble, citing assets over 905 million and ties to Commercial Credit Inc. Other area S&Ls reported continued insured status with FSLIC backing, while customers questioned withdrawals at Elyria institutions.
MENTIONED IN THIS ARTICLE
Savings and Loan
Ohio
Richard Celeste
S&l
Celeste
City Loan and Savings
Lorain
Sandusky
Norwalk
City Loan
David A. Sprague
Oberlin Road
Sprague
Commercial Credit Inc
Baltimore
S&ls
Home State Savings Bank of Cincinnati
William Kilfoyle
Freedom Federal Savings and Loan
Elyria
Freedom Federal
Federal Savings and Loan Insurance Corporation
FSLIC
TEW
Chicago
Home State
Ohio Deposit Guarantee Fund
Federal Savings and Loan Insurance Corp
Federal Reserve Bank of Cleve
Federal Deposit Insurance Corp
Cleveland Plain Dealer
Brian Usher
Oliver Waddell
First National City Corp
Lorain hospital weighs future of EAGLE helicopter
Lorain Community Hospital reviews the EAGLE air rescue helicopter as part of a year end assessment of trauma center operations and costs. Executive Director Paul Balcom says changes are possible while a decision is expected in about a month and will consider public service alongside economics.
MENTIONED IN THIS ARTICLE
Lorain
Lorain Community Hospital
Lorain Community
Paul Balcom
Balcom
Keith Williams
Balcolm
Psaropoulos Wins East District Spelling Bee at Rocky River
Bob Psaropoulous of St. Peter School clinched the East District title at Rocky River High School, spelling challenging words and advancing to the regional final alongside eighth grader Heather Cassidy. Katie Pilat of Boehm Middle School finished second after a standout run in the Beehive contest.
MENTIONED IN THIS ARTICLE
St. Peter’s
Rocky River
Bob Psaropoulos
Psaropoulos
Charles Schroeder
Psaropoulous
Chronicle-Telegram
Rocky River High School
Lorain
St. Peter School
Bill Damm
Se Sacint Yeit Pe CT
St. Peter
Heather Cassidy
Jous
Bob
Kaiser
Katie Pilat
Berea’s
Boehm Middle School
Katie
S&Ls face three day closure amid Florida collapse fallout
Gov Celeste orders a three day bank holiday for seventy S and Ls after ESM Government Securities Inc. failure. The Ohio plan seeks confidence restoring measures with potential FDIC backed protection and possible bank takeover by major lenders. TEW sues Alexander Grant & Co. for 315 million over misrepresented solvency.
MENTIONED IN THIS ARTICLE
Cincinatti
Florida Securities
Richard Celeste
Thomas Tew
ESM Government Securities Inc
Alexander Grant & Co
Chicago
Fort Lauderdale
Fla
Alexander Grant
ESM
Home State Savings Bank
Securities and Excange Commission
ESM Financial Group
Also Mentioned on This Page
By Randall Edwards
C-T
Franklin Roosevelt
Northern Savings and Loan
Neil Hubbard
Linn Grossman
Nces
Amanda Vinson
Amy Welch
Elyria West
Clear Fork
Medina High
Wolverines
Columbus
Seattle
George Elfers
Elfers
Ingraham High School
Steve Wilson
Natural Gas Co
Daas
Martin Wole
Boe Psaropoulos
Chris
Bernie Noble
Federal Home Loan Bank Board