16150. Corry National Bank (Corry, PA)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
569
Charter Number
569
Start Date
September 15, 1887
Location
Corry, Pennsylvania (41.920, -79.640)

Metadata

Model
gpt-5-mini
Short Digest
d4967a2f1c78df52

Response Measures

None

Receivership Details

Depositor recovery rate
80.5%
Date receivership started
1891-11-21
Date receivership terminated
1896-10-16
OCC cause of failure
Fraud
Share of assets assessed as good
66.7%
Share of assets assessed as doubtful
23.7%
Share of assets assessed as worthless
9.6%

Description

Newspaper reports (Sept 15, 1887) state the National Bank of Corry was closed for examination by bank examiners and implicated in affairs of the Clarke Warner Oil Company (assigned to the cashier). No mention of depositor runs or reopening; because the articles report a closure by examiners and suggest serious involvement with an assigned company, I classify this as a suspension that likely led to closure. The record is limited (no explicit receiver appointment or reopening reported), so classification errs toward suspension_closure; reopening/receiver details not present in these clippings.

Events (3)

1. November 12, 1864 Chartered
Source
historical_nic
2. September 15, 1887 Suspension
Cause
Government Action
Cause Details
Closed for examination by bank examiners; implicated in Clarke Warner Oil Company affairs (assignment to cashier).
Newspaper Excerpt
The National Bank of this city is closed for examination by the Bank Examiners. It is supposed to be involved in the affairs of the Clarke Warner Oil Company, which assigned to the cashier.
Source
newspapers
3. November 21, 1891 Receivership
Source
historical_nic

Newspaper Articles (2)

Article from The Big Sandy News, September 22, 1887

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Article Text

National Bank Closed. CORRY, PA., Sept. 15.-The National Bank of this city is closed for examination by the Bank Examiners. It is supposed to be involved in the affairs of the Clarke Warner Oil Company, which assigned to the cashier.


Article from The Ohio Democrat, September 24, 1887

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Article Text

National Bank Closed. CORRY, PA., Sept. 15.-The National Bank of this city is closed for examination by the Bank Examiners. It is supposed to be involved in the affairs of the Clarke Warner Oil Company, which assigned to the cashier.