First National Bank - Bellaire, OH

Bank Information

Episode Type: Run → Suspension → Unsure
Bank Type: national
Bank ID: 1944
Charter Number: 1944
Start Date: February 22, 1902
Location: Bellaire, Ohio (40.016, -80.742)

Metadata

Model: gpt-5-mini
Short Digest: 2815c0cd

Response Measures

Accommodated withdrawals, Full suspension, Books examined

Description

Article (West Virginia Daily Oil Review, 1902-02-26) reports a run beginning the prior Saturday because of fake stories and that the bank closed its doors yesterday morning when the Comptroller appointed an examiner to take charge. OCR shows Beimont (sic) and Belmont; context indicates Belmont (Bellaire in Belmont County). The paper says it is believed the bank is solvent and expects to resume, but no reopening is reported, so outcome is uncertain.

Events (4)

1. March 1, 1872 Chartered

Source: historical_nic

2. February 22, 1902 Run

Cause: Rumor Or Misinformation
Cause Details: Run began because of 'fake stories' circulated about the bank; heavy withdrawals followed, paying out over $10,000 to small depositors.
Measures: Paid out over $10,000 to small depositors to meet withdrawals.
Newspaper Excerpt: The run began last Saturday because, it is alleged, of fake stories, and by Monday evening they had paid out over $10,000 to small depositors.
Source: newspapers

3. February 25, 1902 Suspension

Cause: Government Action
Cause Details: Comptroller of the Currency appointed a bank examiner and took charge after the run, effectively closing the bank.
Newspaper Excerpt: The First National bank ... closed its doors yesterday morning. The comptroller of the currency has put J. W. Delay, bank examiner, in charge.
Source: newspapers

4. January 2, 1934 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. February 26, 1902 West Virginia Daily Oil Review Sistersville, WV

Article from West Virginia Daily Oil Review, February 26, 1902

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Article Text

THE BELMONT BANK CLOSED. Examiner, Appointed by Comptroller, Takes Charge of Institution-Expect to Resume. Bellaire. O., Feb. 26.-The First National bank, of Beimont, closed its doors yesterday morning. The comptroller of the currency has put J. W. Delay, bank examiner, in charge. The run began last Saturday because, it is alleged, of fake stories, and by Monday evening they had paid out over $10,000 to small depositors. It is believed that the trouble will be straightened out, as the bank is entirely solvent.