16153. First National Bank (Corry, PA)

View Charter #605 on SPMC

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
605
Charter Number
605
Start Date
September 16, 1887
Location
Corry, Pennsylvania (41.920, -79.640)

Metadata

Model
gpt-5-mini
Short Digest
435a57347d58ae96

Response Measures

Capital injected, Full suspension, Books examined

Receivership Details

Depositor recovery rate
92.8%
Date receivership started
1887-10-11
Date receivership terminated
1892-04-25
OCC cause of failure
Losses
Share of assets assessed as good
64.3%
Share of assets assessed as doubtful
8.3%
Share of assets assessed as worthless
27.4%

Description

Multiple contemporary articles report a slight run/withdrawals tied to the bank's connection with the Clark & Warren (Clark & Warner) oil deal and then the bank was closed by Bank Examiner Young in mid-September 1887. A receiver was appointed by the Controller in October 1887 and the bank remained in receivership (dividends paid later), so the suspension led to permanent closure. OCR variants (Correy) corrected to Corry; Clark & Warren/Warner spelling varies in sources.

Events (5)
1. December 6, 1864 Chartered
Source
historical_nic
2. September 16, 1887 Run
Cause
Bank Specific Adverse Info
Cause Details
Small run/withdrawals triggered by revelations or suspicion about the cashier's connection with the Clark & Warren oil company's deal; concerns the bank's entanglement with an oil firm.
Measures
Directors and principal stockholders sought time to make good capital impairment; assessments previously ordered by Controller; attempted to raise funds and reassure depositors.
Newspaper Excerpt
Yesterday there was a slight run on the bank caused by the connection of the cashier, T. E. Mulkee, with the Clark and Warner deal.
Source
newspapers
3. September 16, 1887 Suspension
Cause
Government Action
Cause Details
Bank Examiner Young ordered the bank's doors closed in mid-September after finding impaired capital and entanglement with an oil company; closure followed recent withdrawals and discovered impairment.
Newspaper Excerpt
The First National Bank of Corry closed its doors this morning ... The affairs of the concern are in the hands of United States Examiner Young.
Source
newspapers
4. October 11, 1887 Receivership
Source
historical_nic
5. October 12, 1887 Receivership
Newspaper Excerpt
The Controller of the Currency to-day appointed Mr. Manley Crosby, of Corry, Pa., to be receiver of the First National Bank of that city. This bank closed its doors about the middle of September ... all efforts had failed. The appointment of a receiver followed naturally.
Source
newspapers

Newspaper Articles (18)
1. September 17, 1887 Rock Island Daily Argus Rock Island, IL
Article from Rock Island Daily Argus, September 17, 1887

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VAULTING AMBITION TO CORNER ALL THE WHEAT THERE WAS IN SIGHT Brings the 'Frisco Syndicate to a Very Deep Hole-The Nevada Bank in for $6,500,000, and the Syndicate Loses $7,500,000-National Bank Failure-Pope's Liabilities-A Fidelity Suit. SAN FRANCISCO, Sept. 17.-William Dresbach's statement of liabilities and assets, filed Friday, shows that the Nevada bank is a creditor for $550,000 on promissory notes and $6,000,000 guaranteed by Charles F. Reed. The bank is tbus shown to have advanced $6,500,000 to the wheat bull clique. Reed is a farmer and large land owner of Yolo county, and a brother of Mrs. Paran Stevens, of New York. He has other wealthy relatives, but it is not known how he satisfied the bank. The amount of cash on hand is $978. Among the assets are enormous amounts due from London and Liverpool consignees of wheat, but they merely present grain in transit. Rosenfelt's liability on joint account is $107,000. The total unsecured debts are $7,500,000, and this sum practically depresents the loss by the wheat deal. Mackay and Flood sold eight large valuable lots Friday afternoon. There are rumors that Flood has even placed his new brown stone Nob Hill mansion in the market, as well as Menlo park. Fair has advanced $1,500,000 to rescue the bank. Suit Against a Fidelity Stockholder. CINCINNATI, Sept. 17.-Suit was filed by the receiver of the Fidelity National bank, David Armstrong, through District Attorney Burnet and E. W. Kittredge, at 1:15 P. m., Friday, against William Wood for the payment of his subscription of $13,500 by note on the second $1,000,000 of stock. The Fidelity bank had advertised to increase its capital from $1,000,000 to $2,000,000, and by a vote of its directors resolved to increase it to that amount, but in doing so did not strictly follow the statute. The subscribers to the increase were given the privilege of paying in cash or note. This suit is brought to test the validity of the issue of the second million, it being claimed to be invalid because of the alleged irregularity and non-compliance with the statute. Failure of 24 National Bank. ERIE, Pa., Sept. 17.-The First National bank of Corry, Pa., closed its doors Tuesday morning by order of Bank Examiner Young. Thursday it was announced that the bank had purchased the Clark & Warren Independent Oil refinery for $133,000, property now said to have been taken to secure loans. Liabilities not stated. The Pope Failure Growing Worse. NEW YORK, Sept. 17.-The failure of T. J. Pope & Bros., iron merchants, proves more extensive than at first reported. The liabilities are now placed at $800,000. The assignee asserts that from 75 to 100 per cent. can be realized.

2. September 17, 1887 New-York Tribune New York, NY
Article from New-York Tribune, September 17, 1887

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CLOSING A NATIONAL BANK AT CORRY. THE END OF A FINANCIAL STRUGGLE THAT BEGAN TWO YEARS AGO. JAMESTOWN Sept. 16, (Special).-The First National Bank of Corry closed its doors this morning a few moments after the opening hour. The affairs of the concern are in the hands of United States Examiner Young. The depositors were largely working people. It is said that the bank, which had a capital of nearly $100,000, has never recovered from its losses some years ago through the operations of its former president, Adam Davis, and other officials. Robert N. Marvin, the president of the bank, is the son of Judge Richard P. Marvin, and at one time was a Republican candidate for Secretary of State. Mr. Marvin has been a largo stockholder In the Corry Bank for many years, and for the last few years has been president of the bank. President Marvin this afternoon said: "The bank has had an eventful career. It has been doing business for the last twenty-two or twentythree years, and at one time was the most prosperous bank in this region. Some years ago the president, Adam Davis, through his dabbling in oil and other speculations endangered the bank, and there have been other matters of a like nature that have caused an injury to the success of the institution. We were prepared, however, to take care of these matters, and had completed all arrangements to look after the depositors who might have been injured by Davis's speculations. The failure of the bank to-day can not be attributed to the irregularities of Davis and others. but to a more recent difficulty that has come upon us suddenly. This is the real cause of the suspension." Has there been a defalcation " Well, not exactly," replied Mr. Marvin. "I did not know a word of this trouble until three days ago and it was a great surprise to me. I am in hopes that the depositors will be paid In full. I can not tell whether the bank will open again or not. It depends entirely upon the result of Mr. Young's examination of the books." Two years ago the examiner found the bank capital impaired. An assessment was ordered by the Controller and paid in, and the bank was again placed on what was supposed to be a solid basis. A special examination was made thirty days ago, when the capItal was found to be largely impaired and the Controller again ordered an assessment to make good the impairment. Yesterday there was a slight run on the bank caused by the connection of the cashier, T. E. Mulkee, with the Clark and Warner deal. The effort of President Marvin to make good the Impairment was thus defeated. Recent adverse decisions of the court in long contract litigations growing out of former mismanagement 1. affected the bank. The examiner stated that he thought the assets would be ample to pay the depositors and other creditors, 80 that loss will be entirely on the shareholders.

3. September 21, 1887 The Russellville Democrat Russellville, AR
Article from The Russellville Democrat, September 21, 1887

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THE EAST. THE firm of Thomas J. Pope & Bro., dealers in metals, New York, has made an assignment. The firm was among the largest in the trade. The liabilities are estimated at from $300,000 to $500,000. JAMES D. THYNG, a shoe dealer of Buffalo, N. Y., has been arrested for setting fire to his store, the insurance on which was nearly double its value. ARGUMENTS on the appeal in the Jacob Sharp case were concluded in the New York Supreme Court's special session on the 14th. THERE was a panic in oil in Pittsburgh, Pa., on the 14th, prices dropping four cents in a short time. The market opened weak at 69 and with a general desire to sell soon broke at 65. The greatest excitement prevailed during the decline and a large amount of oil was unloaded. NEW YORK Republicans met in convention at Saratoga on the 14th and nominated the following ticket: Secretary of State, Fred Grant, of New York; Comptroller, Joseph Lameroux, of Saratoga; Treasurer, James Carmichael, of Erie; State Engineer, Perry H. Cornell, of Tompkins. THE racing stable of Sam Emery was sold at auction at Sheepshead Bay recently. The star of the string was Dry Monopole. He was bought by Barney Riley, the trainer, for $8,100. Tenbooker was bought by the Keystone stables for $2,500; Sea Fog, by Lamasney Bros., for $2,550; Suitor, by R. S. Clark, for $1,400; Drake, by M. Corbett, for $2,200. A CIRCULAR indorsed by the president of the executive board of the Miners' and Laborers' Amalgamated Association has been issued, recommending that work be suspended in the coke region at all places where the scale has not been signed, and that the suspension continue untll the scale adopted by the H. C. Frick Company shall have been signed. THE strike of the furniture men of Boston has been declared off, pending arbitra tion. THE Constitution Centennial celebration commenced with a grand procession at Philadelphia on the 15th. It was estimated that 200,000 visitors were present in the city. President Cleveland and party arrived in the evening. CONGRE8SMAN-ELECT NICHOLAS T. KANE, of the Albany (N. Y.) district, died on the 15th of consumption. IRA L. GREEN, a former resident of Rush, N. Y., recently murdered his wife and two children at Sarasata, Fla., and was afterward shot while resisting the officers. THE First National Bank of Correy, Pa., has been closed by Bank Examiner Young.

4. September 21, 1887 Morris Tribune Morris, MN
Article from Morris Tribune, September 21, 1887

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CLOSED ITS DOORS. Exeitement Over the Suspension of the First National Bank of Corry, Pa. CORRY, Pa., Sept. 19.-The doors of the First National bank were closed Friday morning at 9 o'clock by Bank Examiner Young. The esignment by the Clark & Warren Oil company, of this place, of their works to F. E. Multks, cashier of the bank, Thursday, for a consideration of $130,000 caused a few small depositors to draw out Thursday afternoon. It is thought that the bank had become entangled with the oil firm and that this was the cause of the failure. There is little excitement here. JAMESTOWN, N. Y., Sept. 17.-Great excitement prevails over the failure of the First National bank of Corry, Pa. Robert N. Marvin, of this city, said in an interview Friday night that the failure was due to recent speculations. He said he only learned of the matter three days ago and it was a great surprise to him. He thought that the trouble was in the nature of a defalcation.

5. September 21, 1887 Watertown Republican Watertown, WI
Article from Watertown Republican, September 21, 1887

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LOST IN SPECULATION Rascally Officials Wreck a Pennsylvania National Bank. JAMESTOWN, N. Y., Sept. 17.-Great excitement exists in the neighboring town of Corry, Pa., over the failure of the First National Bank of that place. The affairs of the institution are in the hands of United States Examiner Young. The depositors were largely working people. It is said that the bank, which carried a capital stock of nearly $100,000, has never recovered from losses some years ago, through the operations of its president, Adam Davis, and other officials. Robert N. Marvin, the president of the defunct bank, is a well known resident of this city. He is the son of Judge Richard P. Marvin, and at one time was a Republican candidate for secretary of state. Mr. Marvin has been a large stockholder in the Corry bank for many years, and for the past few years has been president of the bank. President Marvin made the following statement: "The bank has had an eventful career; it has been doing business for the past twenty-two or three years, and at one time was the most prosperous banking institution in this section Some years ago the president of the bank, Adam Davis, through his dabbling in oil and other speculations, endangered the bank, and there have been other matters of a like nature that have caused a detriment toward the success of the institution. We were prepared, however, to take care of these matters, and had completed all arrangements to look after the depositors who might have been injured by Davis' speculations. The failure of the bank cannot be attributed to the past irregularities of Davis and others, but to a more recent difficulty that has come upon us very suddenly. This is the real cause of the suspension." "Has there been a defalcation?" was asked. "Well, not exactly," replied Mr. Marvin, seeking to avoid the direct question. "I did not know a word of this trouble until three days ago, and it was a great surprise to me. I am in hopes the depositors will be paid in full. Our capital stock was $100,000. I can not tell whether the bank will open again or not. It depends entirely on the results of Examiner Young's examination of the books of the institution. I must be excused from giving you any more information to-night.

6. September 22, 1887 Barton County Democrat Great Bend, KS
Article from Barton County Democrat, September 22, 1887

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THE LATEST. JUSTICE MAGRUDER, of the Illinois Supreme Court, has received a mourning number of the Milwaukee Labor Review with the Anarchist decision inclosed in black. A NEW and strange disease is affecting cattle at Du Quoin, Ill., milch cows suffering most. The disease is in the eyes, some cows being reported totally blind. THE Scottish Home Rule Association held a meeting the other day and appointed B committee to bring the question before Parliament. AYOUB KHAN, the Afghan pretender, has been traced to Beloochistan. He will probably be surrendered to the British authorities. BUSINESS failures during the seven days ended September 15 numbered for the United States, 165: for Canada, 23; total, 188, compared with 174 the previous week and 185 for the corresponding week last year. THE British Parliament was prorogued on the 16th. A SPANISH ironclad is anchored in the harbor of Key West, Fla., and another is cruising outside watching for filibusters. A MORTGAGE of $1,200,000 has been filed in Springfield, Ill., by the St. Louis, Alton & Springfield railroad. PAGE & Co.'s candy factory, Chicago, and other buildings were destroyed by fire recently, causing a loss of $400,000. Several firemen were injured by the fall of an immense sign in the shape of an eagle. GEORGE OLIVER, mayor of Sheltman, Ga., committed suicide recently in the telegraph office. Oliver was well known throughout Georgia, and no reason was assigned for his act. A COLLISION occurred the other night on the Iron Mountain railroad north of Nettleton, between two construction trains, which resulted in the killing of three men and severely injuring seven others. Both engines were badly wrecked. A COLLISION occurred on the Midland railway, England, on the 16th, resulting in the death of twenty-four persons and the injury of many others. The victims were excursionists en route to the Doncaster races. THE Volunteer beat the Mayflower in the trial yacht races off Sandy Hook on the 16th. DOMINICK MESSINA, his wife and four children, were burned to death by a fire in a grocery store at New Orleans on the 16th. PRESIDENT DIAZ opened Congress in the City of Mexico on the 16th. THE First National Bank of Correy, Pa., has been closed by Bank Examiner Young. FRANK W. MAXON, a wealthy stock breeder of Walworth, Wis., was gored to death recently by a blooded bull, which he was leading to water. He was literally torn to pieces. Deceased was sixty years of age and leaves a wife. A REBELLION, which proved of short duration, broke out in Manipore, India, recently. The rebels penetrated into the Maharajah's palace, but were repulsed with a loss of nine killed and many wounded. No further trouble was expected.

7. September 23, 1887 The Bolivar Bulletin Bolivar, TN
Article from The Bolivar Bulletin, September 23, 1887

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THE EAST. THE firm of Thomas J. Pope & Bre., dealers in metals, New York, has made an assignment. The firm was among the largest in the trade. The liabilities are ostimated at from $200,000 to $500,000. JAMES D. THYNG, a shoe dealer of Buffale, Y., has beon arrested for setting fire to his store, the insurance on which was nearly double its value. ARGUMENTS on the appeal in the Jacob Sharp case were concluded in the New York Supreme Court's special session on the 14th. THERE was a panic in oil in Pittsburgh, Pa., on the 14th, prices dropping four cents in a short time. The market opened weak at 69 and with a general desire to sell soon broke at 65. The greatest excitement prevailed during the decline and a large amount of oil was unloaded. NEW YORK Republicans met in convention at Saratega on the 14th and nominated the following ticket: Secretary of State, Fred Grant, of New York; Comptroller, Joseph Lameroux, of Saratoga; Treasurer, James Carmichael, of Erie; State Engineer, Perry E. Cornell, of Tompkins. THE racing stable of Sam Emery was sold at auction at Sheepshead Bay recently. The star of the string was Dry Monopole. He was bought by Barney Riley, the trainer, for $8,100. Tenbooker was bought by the Keystone stables for $2,500; Sea Fog, by Lamasney Bros., for $2,350; Suitor, by R. S. Clark, for $1,400; Drake, by M. Corbett, for $2,200. A CIRCULAR indorsed by the president of the executive board of the Miners' and Laborers' Amalgamated Association has been issued, recommending that work be suspended in the coke region at all places where the scale has not been signed, and that the suspension continue until the scalo adopted by the H. C. Frick Company shall have been signed. THE strike of the furniture men of Boston has been declared off, pending arbitra tion. THE Constitution Centennial celebration commenced with a grand procession at Philadelphia on the 15th. It was estimated that 200,000 visitors were present in the city. President Cleveland and party arrived in the evening. CONGRESSMAN-ELECT NICHOLAS T. KANE, of the Albany (N. Y.) district, died on the 15th of consumption. IRA L. GREEN, a former resident of Rush, N. Y., recently murdered his wife and two children at Sarasata, Fla., and was afterward shot while resisting the officers. THE First National Bank of Correy, Pa., has been closed by Bank Examiner Young.

8. September 24, 1887 The Superior Times Superior, WI
Article from The Superior Times, September 24, 1887

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Raseally Officials Wreck a Pennsylvania National Bank. JAMESTOWN, N. Y., Sept. 17.-Great excitement exists in the neighboring town of Corry, Pa., over the failure of the First National Bank of that place. The affairs of the institution are in the hands of United States Examiner Young. The depositors were largely working people. It is said that the bank, which carried a capital stock of nearly $100,000, has never recovered from losses some years ago, through the operations of its president, Adam Davis, and other officials. Robert N. Marvin, the president of the defunct bank, is a well known resident of this city. He is the son of Judge Richard P. Marvin, and at one time was a Republican candidate for secretary of state. Mr. Marvin has been a large stockholder in the Corry bank for many years, and for the past few years has been president of the bank. President Marvín made the following statement: "The bank has had an eventful career; it has been doing business for the past twenty-two or three years, and at one time was the most prosperous banking institution in this section Some years ago the president of the bank, Adam Davis, through his dabbling in oil and otherspeculations, endangered the bank, and there have been other matters of a like nature that have caused a detriment toward the success of the institution. We were prepared, however, to take care of these matters, and had completed all arrangements to look after the depositors who might have been injured by Davis' speculations. The failure of the bank cannot be attributed to the past irregularities of Davis and others, but to a more recent difficulty that has come upon us very suddenly. This is the real cause of the suspension." "Has there been a defalcation?" was asked. "Well. not exactly," replied Mr. Marvin, seeking to avoid the direct question. "I did not know a word of this trouble until three days ago, and it was a great surprise to me. I am in hopes the depositors will be paid in full. Our capital stock was $100,000. I can not tell whether the bank will open again or not. It depends entirely on the results of Examiner Young's examination of the books of the institution. I must be excused from giving you any more information to-night.'

9. September 28, 1887 Mower County Transcript Austin, Lansing, MN
Article from Mower County Transcript, September 28, 1887

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on the Temmsylvana IV. n., near Monanoqua, the train dispatcher at Honey Pot allowed two freight trains, travelling in opposite directions, to come together on a single track. The trains were running at the rate of 20 miles an hour, and collided on a deep curve. The engineers and firemen jumped and saved their lives. The collision was heard for miles. Four box cars loaded with giant powder exploded with terrific force. tearing up the rocks, tracks, ties and about 25 cars. The latter caught fire and, with their contents, were destroyed. Three brakemen were killed. Some of the cars were thrown by the force of the explosion a distance of an eighth of a mile. The logs to the railroad company will be $100,000. Both enginee were thrown down the embankment and are a total wreck. Another severe gale has visited St. Johns coast N. B., doing great damage to the shipping. Bonavista presents a dreadIscene. All sorts of wreckage is strewn indiscriminately about the streets. Twenty boats were driven ashore and seven sunk at their moorings. Not a vestage of the fish stages was left standing. Only two fore-and-afters were insured, and the loss will be heavy. At St. Johns a man named Learing was blown overboard from a wharf and drowned. Lizzie Hoyle, disappeared from Webster, Mass., Sept. 1, and on the 20th her body was found in a corn crib in a barn on the Aldrich place at Oxford. She had been murdered. Her head was covered with a cloth, and her feet and hands tied with rope. The body was so well concealed that its presence was discovered only when the odor of decaying flesh led passersby to make an investigation. A Washington dispatch says that Gen. N. P. Banks, United States Marshal for Massachusetts; is in danger of losing his position on account of confusion in his accounts. There is no doubt of his integrity and no shortage, but his method of managing the office is said not to satisfy the strict business standard of the Washington officials. Fourteen proposals were received for building the new court house at Winona, Minn., raging from $105,400 to $107,000. Munck & Lohse were the lowest bidders. The commissioners went into executive session to consider the proposals, and a disposition was shown by some to alter the plans so as to bring the price within $100,000. At Waterbury, Conn., Ex-Representative Calvin H. Carter, president of the Detroit & Lake Superior Copper company, and brother of President Carter, of Williams college, died suddenly of apoplexy, just after leaving the bath. He was yman of marked ability. The First national bank, of Corry, Pa., having been embarrassed by the recent failure of an oil company in that town, was closed by the bank examiner. The assets and liabilities have not been made public, United States Senator McPherson, of New Jersey, will not be a candidate for renomination if, to do so, means a heated contest. Fire at Danby, Que., destroyed over 100 houses and the railway station. As far as heard no lives were lost. It is said that E. S. Wheeler & Co., of New Haven were not honest in their business transactions. At New York, Judge Brown fined Henry George for not answering a summons to appear as a juror, Lorillard's brickyard, at Keyport, N. J., took fire and burned. Loss $100,000 no insurance. Rev. J. A. Copeland, of Rochester, N. Y., has been converted to the George theory. Henry Brewster, the noted carriage manufacturer of New York, died, aged 63. Mr. Nicholson, private secretary to President King, of the Erie railway, has said that the rumors of the presidency of

10. October 12, 1887 Evening Star Washington, DC
Article from Evening Star, October 12, 1887

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Another National Bank in Trouble. A RECEIVER APPOINTED BY THE CONTROLLER OF THE CURRENCY. The Controller of the Currency to-day appointed Mr. Manley Crosby, of Corry, Pa., to be receiver of the First National Bank of that city. This bank closed its doors about the middle of September, but the directors and principal stockholders asked for time in which to make good the impairment of the capital and to resume business. This application was supported by the citizens of Corry, who held a meeting and appointed a committee to try and raise the necessary amount. The Controller yesterday received a telegram from the examiner in charge of the bank, saying hat all efforts had failed. The appointment of a receiver followed naturally.

11. October 13, 1887 New-York Tribune New York, NY
Article from New-York Tribune, October 13, 1887

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RECEIVER FOR THE CORRY BANK WASHINGTON, Oct. 12.-The Controller of the Currency to-day appointed Manley Crosby, of Corry, Penn. to be receiver of the First National Bank of that city. This bank closed its doors about the middle of September.

12. October 15, 1887 New-York Tribune New York, NY
Article from New-York Tribune, October 15, 1887

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SISTERS OF CHARITY AS TEACHERS. PITTSBURG, Oct. 14 (Special).-Armed with a written endorsement signed by the five Catholic directors of the Thirty-third Ward School Board, eleven Sisters of Charity appeared at the office of Mr. Luckey, City Superintendent of Schools, to-day and applied for an examination that they may receive certificates to teach. They are all young and Miss Helen Cronin, the leader of the party, has remarkable beauty. Superintendent Luckey said that he had told Father McTighe to send the best edueated women he had, for fear the charge of an unfair examination might follow a failure. The Sisters worked be busily all day on their papers and if they pass will elected teachers in the Thirty-third Ward school. Nearly 400 pupils will be transferred from the parochial school the At present there are forty Protestant children in public school. RECEIVER FOR THE BROKEN BANK IN CORRY. CORRY, Penn., Oct. 14 (Special).-After all the offorts to resuscitate the First National Bank, it has at last passed into the hands of a receiver. Bank Examiner Many Young delivered everything this morning to Crosby, who will wind up its affairs.

13. November 18, 1891 Pittsburg Dispatch Pittsburgh, PA
Article from Pittsburg Dispatch, November 18, 1891

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AN OMINOUS REPORT. Comptroller Lacey Puts the Corry Bank's Shortage at $170,000. HE WILL APPOINT A RECEIVER. Attorney J. W. Sproul, of Union City, Is Thought to Be the Man. NEWSY NOTES FROM NEARBY TOWNS ISPECIAL TELEGRAM TO THE DISPATCH.1 CORRY, Nov. 17.-Congressman Griswold has been notified by Comptroller Lacey that a receiver for the First National Bank of this city will be appointed, and to act in the matter as quickly as possible. Mr. Griswold spent the day here, leaving for Washington late this afternoon. It is understood that he will recommend Attorney J. W. Sproul, of Union City, for the receivership. Mr. Lacey makes a statement that is ominous. He says the bank's shortage is: Stock capital, $100,000; surplus, $20,000, and a matter of $50,000 besides. A special telegram to THE DISPATCH from Erie, says: Congressman Griswold left for Washington to-day, and it is claimed that he is going to urge the appointment of J. W. Sproul for the receivership of the defunct Corry National Bank. It comes from Corry that the elements which favored Hon. Manley Crosby, the receiver of the First National Bank, and those who wanted C. George Olmstead, finding that they could not get a Corry man, have united in their efforts for Mr. Sproul, who has, also, the backing of Republican county leaders. Those who are best posted say it will be out of the question for the Carry bank to resume.

14. November 25, 1891 The Forest Republican Tionesta, PA
Article from The Forest Republican, November 25, 1891

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NEWSY NOTES. The man who needs a newspaper most is generally the first to stop it. The Clarion county teachers' annual institute will begin Monday, Dec. 28th. J. W. Sproull, of Erie, has been appointed receiver of the First National Bank of Corry. There is to be a black cat stock farm established on an island off the coast of Washington, and people in the vicinity are starting a boot-jack factory. Until the election of Mr. E. C. Siegel, Erie county has not had a Democratic Sheriff since 1855 when John Kilpatrick was elected as a result of the railroad war. By the burning of the Old Homestead Hotel, at Jamestown, N. Y., Monday morning, Mrs. Marsh, Mrs. Jane Buchanan and her little son and Maggie Wi'son, all except the boy employes of the hotel, were burned to death. How dear to the purse is the new fashioned bonnet, a gift to your wife; a small wisp of straw with an ostrich plume on it, the last you will buy while you still have your life. The hat with a brim and a big swinging feather, and folderol traps you can't even name; with stuffed birds and roses, and pieces of leather, and a bill from the dealer as long as your frame. The stylish fall bonnet, the fancy priced bonnet, the dear little bonnet that knocks your purse in. Fred. Young, a young man of Pine township, Crawford county, aged about eighteen years, has for several years been troubled with fits, and has been much of the time under the doctor's care. The doctor finally gave the young man some worm medicine, and a few hours after taking the medicine, he emitted a dead snake nearly a foot long. The young man remembers when a small boy he drank from a brook and that he felt something queer going down his throat. A writer who claims to know what he is talking about says that salt is the best and cheapest preservative that can be found for posts. This he bases on his own experience as follows: Thirty-four years ago we set four oak hitching posts three and a half feet deep in the earth, having first bored an inch hole in the same about three inches above and another of like size about four inches below the earth's surface. The holes were partly filled with salt, and then stopped with a dry oak plug. The posts remain to-day sound and strong. Had the salt not been used the posts would have decayed years ago. Salt certainly has many useful qualities.

15. November 25, 1891 Pittsburg Dispatch Pittsburgh, PA
Article from Pittsburg Dispatch, November 25, 1891

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CORRY BONDS MISSING. One of the Bad Effects of the National Bank Failure There. CORRY, Nov. 24.-[Special.]--A sensation has been created here by the statement that the Corry city refunding bonds, amounting tr $90,000, which were signed and sealed, had disappeared, and no one knows of their whereabouts. But a few months ago the same bonds, then amounting in value to $100,000, were placed with a banking firm in Philadelphia for negotiation. The firm went to the wall, and after legal proceedings the bonds were recovered. To-day it turns out that these same bonds are in the vaults of the wrecked Corry First National Bank, and no one knows if they can again be rescued. Bonds of J. W. Sproul, Receiver of the Corry Bank, amounting to $50,000. have been signed and approved, and he will take possession tomorrow, when some light may be thrown on the condition of the bank.

16. November 28, 1891 New-York Tribune New York, NY
Article from New-York Tribune, November 28, 1891

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PROPOSED PERMANENT INVESTMENTS. BONDS TO BE PLACED. Amount. Character. Boston, Location. Mass.-Board of Aldermen has authorized $200,000 loan of outside of debt limit, to complete Commonwealeh-ave. Resolution must to to Common Council. Jeffersonville, Ind.-Jettersonville Street Railway 12,000 Co. will Issue bonds to amount of in part payment of indebtedness. Corinth, N. Y.-Supervisors 1 Saratoga County have authorized town to issue bonds 18,000 for bridge purposes to amount of Final action will depend on action of Warren County Supervisors. BOND NEWS. Brooklyn, N. Y-Messrs. Blake Bros. & Co., of New-York, were awarded the whole of the issue of 4 per cent water 1,000,000 bonds, to amount of There were no bids for the three Issues of 3 DeT cent sewer relief 800,000 bonds. aggregating and they are still offered. 90,000 Corry, Penn.-City Refunding bonds to amount of were placed with a Banking firm in Philadelphia for sale. Firm failed. Bonds were recovered and placed for sale in Corry First National, which has failed, and "whereabouts of bonds is a mystery. If any are held as collateral. confer with J. W. Sproul, receiver First National Bank. NEW BANKS. Capital. Title. Fairhaven, Location. Wash.-Canfield Investment and Trust Co., Pres. Eugene Canfield, $250,000 II. B. Williams, cashier Prus. Canfield has heretofore lived in Seattle, Wash.-Guarantee Seattle. Loan and Trust Co., 50,000 W. C. Morris, Pres NEW MINING COMPANIES. Helena, Mont.-Big Blackfoot Milling Co., Pres. A. B. Hammond ; to operate mines 700,000 in Missoula County Helena, Mont.-Tip Top Mining Co., Pres. N. G. Ramsay: to operate mines in Mis370,000 soula County Boulder, Mont.-Rocky Mountain Mining Co., Pres. Frank Bernatz; to operate mines 300,000 in Jefferson County Spokane Falls, Wash.-Gettysburg Mining Co., Pres. N. F. Easig; to mine in Wash1,000,000 ington and Idaho

17. January 19, 1892 Pittsburg Dispatch Pittsburgh, PA
Article from Pittsburg Dispatch, January 19, 1892

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A GOOD DIVIDEND PROBABLE. Receiver Sproul, of the Defunct Corry Bank, Doing Good Work. CORRY, Jan. 18.-[Special.]-J. W. Sproul, receiver of the First National Bank here, said this evening that Controller Lacey had ordered a dividend to be paid the the last of next month, the first day the law will permit. There is more than enough money on hand now to pay a 30 per cent. dividend, and the receiver says he thinks he can make it 40 per cent. This will put in circulation over $200,000 and wonderfully relieve the present stringency in money caused by the failure. When Mr. Sproul took charge of the bank there were $33,000 cash on hand. Within the past 30 days he has collected nearly $150,000. It is believed the depositors will receive 80 per cent. in all.

18. May 13, 1892 Pittsburg Dispatch Pittsburgh, PA
Article from Pittsburg Dispatch, May 13, 1892

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Corry Depositors Getting Their Pay. CORRY, May 12.-[Special.]-The Comptroller of the Currency has just ordered Receiver J. W. Sproul, of the Corry National Bank, to pay another dividend of 10 per cent, making 40 per cent in all. Hon. Manley Crosby, Receiver of the First National Bank, is now paying a final dividend of 23/4 per cent. This is the fifth dividend, in all amounting to 928/4 per cent.