First National Bank - Bethlehem, PA

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 138
Charter Number: 138
Start Date: March 19, 1877
Location: Bethlehem, Pennsylvania (40.626, -75.368)

Metadata

Model: gpt-5-mini
Short Digest: 5d0dc98a88e89f55

Response Measures

None

Description

Article (Chicago Daily Tribune, 1877-03-19) reports the First National Bank of Bethlehem, PA is suffering from temporary embarrassment and that the community is distrustful and excited, while officers hoped not to suspend. No suspension, receivership, or reopening is mentioned. The language implies depositor nervousness/heavy withdrawals but gives no explicit cause beyond general distrust.

Events (2)

1. December 1, 1863 Chartered

Source: historical_nic

2. March 19, 1877 Run

Cause: Rumor Or Misinformation
Cause Details: General depositor distrust and excitement; temporary embarrassment noted in the press, no specific insolvency or external shock described.
Newspaper Excerpt: MORE BANK TROUBLES IN PENNSYLVANIA. The First National Bank of Bethlehem, Pa., is puffering from temporary embarrassment. Its omcereare hopeful they will not have to suspend, but the community is distrustful and excited.
Source: newspapers

Newspaper Articles (1)

1. March 19, 1877 Chicago Daily Tribune Chicago, IL

Article from Chicago Daily Tribune, March 19, 1877

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Article Text

A GOOD SIGN. The prosperity of the cotton manufactures of Massachusetts is not the 'only good sign of the times. The aboe manufacturers of Lynn, Mass. state that their business at this time is one-third better than it was a year ago. All the shoemakers there have work, and most of the factories are running on over-time. THE NORTH AMERICAN LIFE. Receiver Pierson, of the Guardian Mutual,North American, and several other Companies, is allowed by the order appointing him to carry on the bnsiness of the North American Company to a limited extent. He has not as yet determined upon the course he will pursue under this portion of the order, and is receiving the premiums on all the policies that are tendered, but is holding them as a special fund for the benefit of the policy-holders, subject to the action of the Court. PHILADELPHIA DEBT. The Pennsylvania Legislature has refuned to act on the bill authorizing such an increase of the debt of Philadelphia as to enable It to fund Its outstand1ug city warrants. The present amount of Philadelphia warrants outstanding is $10,000,000 to $12,000,000. MORE BANK TROUBLES IN PENNSYLVANIA. The First National Bank of Bethlehem, Pa., is puffering from temporary embarrassment. Its omcereare hopeful they will not have to suspend, but the community is distrustful and excited. THE DONANZAS. The San Francisco Chronicle of the 11th Inst., in Its mining-stock market report, says: The great feature of the week has been the forthcoming report of the Committee which visited Virginia City to make an examination of the 1, 050-foot level of the Consolidated Virginia mine. The effect of that report upon the market is, to say the least, significaut.-differing richly from its verbal expresent and betraving a defect, actual or imaginary, which gives cause for serlous suspicion. A cry went up from the street" yesterday for n new committee to inspect the lower levels of the bonanza mines. It wants disIntercated Returning Isoard. THE NATION'S REVIEW OF THE WEEK. The mater of the new United States 41/2 per cent bonds continue here and In the foreign markets at the rate of about $1,000,000 per day. and during the week the Treasury notified the holders of $10. 000,000 more .20 0 per cent bonds that they would be redecined. ,ninety days hence. At no time rince the 4% per cent bonds were first put on the market has the proepect been so good that all will be aold during the present year. The high credit of the Government In be markets of the world Is not more favorable or Treasury resumption of specio-payments on or before Jan. 1, 1870. than are the foreign-trade Igures. These for the dirt seven months of the Treasury local year, or up to Feb. 1, have been rendered for all the ports of the country, and they abow. specie included ou both sides, that the exports exceeded the Imports by the and of $135, 000,000, or at the rate of $263,000,000 for the whole year. The oxcess of exports over Importe for the first seven months of the fiscal year of 1875-'1 was $53,000, COO, and for 1874-5852,500, 030. Nothing, therefore, except gross inlaman agement on the part of the Treasury, can prevent recumption In gold by the Treasury within the allotted time. The price of gold, express. eit In paper legal-tender, fell during the the week to 1014, chiefly for reasons Just named. Another effort was made during the week to effect a coal combination, but it failed. and instead the companies have wisely determined to reduce the cost of producing coal and work relief from the depression in the trade by en. larging the consumption of coal In this country, and by devoting attention to the export of coal. It is asserted that, at present prices, our mines can successfully compete in all the markets of the world with those of any other country. A notable event line been the withdrawal of all opposition to the probate of the will of the late Commodare Vanderbilt. still another notable event was the advance by the trunk lines of no per crnt In Western-bound freight rates, the TUsuit of # conference of the chief mana. porn of the respective lines. All ac. counts agree that these managers recognize the necessity of maintaining fair rates and of avoiding war. Silver fell during the week to 534 per onnce in London; and at the close of the week the gold value of # United States legal-tender note for one dollar was 20.9540; the bullion in a41214 allver dollar would have had a gold value of 20.0203; that In a trade dollar had a gold value of $0.9071; and that in two halves, four quarters, or ten dimes, so. 308.-Nation, March 10. GOLD AND GREENBACKS. Gold was HIGHT in greenbacks. Greenbucks were cents on the dollar in gold.