First National Bank - Jamestown, NY

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 548
Charter Number: 548
Start Date: August 27, 1884
Location: Jamestown, New York (42.097, -79.235)

Metadata

Model: gpt-5-mini
Short Digest: 7b68af8c

Response Measures

None

Description

Single article (Evening Star, 1884-08-27) reports the First National Bank of Jamestown, N.Y., has suspended business after its president R. E. Wallace made a confession of judgment for $80,000. OCR error corrected: FAILUXE -> FAILURE. No reopening mentioned; appears to be a failure/suspension likely permanent.

Events (2)

1. October 25, 1864 Chartered

Source: historical_nic

2. August 27, 1884 Suspension

Cause: Bank Specific Adverse Info
Cause Details: President R. E. Wallace made a confession of judgment for $80,000 to his brother, indicating bank insolvency/misconduct leading to suspension.
Newspaper Excerpt: R. E. Wallace, president of the First National Bank of Jamestown, N. Y., has made a confession of judgment ... and the bank has suspended business.
Source: newspapers

Newspaper Articles (1)

1. August 27, 1884 Evening Star Washington, DC

Article from Evening Star, August 27, 1884

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Article Text

NATIONAL BANK FAILUXE.- - R. E. Wallace, president of the First National Bank of Jamestown, N. Y., has made a confession of judgment to his brother, Chas. S. Wallace, of Newcastle, Pa., in the sum of $80,000, and the bank has suspended business. It is understood that the depositors will be protected by the securities