Article Text
A Bank Suspended. CINCINNATI, Aug. 23.-The First National Bank of Franklin, O., has suspended.
17468. First National Bank (Franklin, OH)
Bank Information
- Episode Type
- Suspension → Reopening
- Bank Type
- national
- Bank ID
- 738
- Charter Number
- 738
- Start Date
- August 23, 1895
- Location
- Franklin, Ohio (39.555, -84.296)
Metadata
- Model
- gpt-5-mini
- Short Digest
0c470b30
Response Measures
None
Receivership Details
- Depositor recovery rate
- 80.0%
- Date receivership started
- 1897-02-17
- Date receivership terminated
- 1906-10-01
- OCC cause of failure
- Losses
- Share of assets assessed as good
- 18.7%
- Share of assets assessed as doubtful
- 77.3%
- Share of assets assessed as worthless
- 3.9%
Description
The First National Bank of Franklin, Warren County, Ohio, suspended on 1895-08-23; Bank Examiner Betts was ordered to assume charge. Cause reported as falling off in deposits and holding of discounted paper not maturing to meet obligations (liquidity/asset-timing problem). The bank was permitted to reopen after meeting Comptroller conditions on/around 1895-10-12. No contemporaneous article describes a depositor run or panic at the bank.
Events (4)
1.
January 23, 1865
Chartered
- Source
- historical_nic
2.
August 23, 1895
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Falling off in deposits and holding of discounted paper that did not mature in time to meet obligations (liquidity shortfall/asset-timing mismatch).
- Newspaper Excerpt
- The First National Bank of Franklin, O., has suspended. Examiner Betts has been ordered to take charge.
- Source
- newspapers
3.
October 12, 1895
Reopening
- Newspaper Excerpt
- The First National Bank, of Franklin, O., which suspended payment August 23, 1895 ... has to-day been permitted to reopen its doors for business.
- Source
- newspapers
4.
February 17, 1897
Receivership
- Source
- historical_nic
Newspaper Articles (19)
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A Bank Failure, CINCINNATI,O., Aug. 23.-The First National bank of Franklin, Ohio, has suspended. Examiner Bette has been ordered to take charge. The cause of the RUBpension 18 stated to be the failing off in deposits and tue holding of discounted paper that did not mature in time to meet the obligations. The president is C. M. Anderson. The bank has & capital of $100,000. The last statement showed 1% surplus of $20,000; undivided profits $35,000. It 18 the general impression that the depositors will be paid in full as the sesets are largely in excess of the liabilities. The deposits are said to be only $100,000.
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OHIO BANK FAILS. First National, of Franklin, Closes Its Doors. Comptroller Eckels was to-day informed that the First National Bank of Franklin, Warren county, Ohio. had closed its doors. He immediately telegraphed Bank Examiner Betts to assume charge of the failed bank. At the date of the last report, July 11, the bank had $224,000 in loans and discounts and owed individual depositors $169,000. No cause is assigned for the failure
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Bank Failure. WASHINGTON, Aug. 23.-Comptroller Eckels was informed to-day that the First National Bank of Franklin, Warren County, Ohio, had closed its doors. He telegraphed to Bank Examiner Betts to assume charge of the failed bank. At the date of the last report, July 11th, the bank had $224,000 in loans and discounts and owed individual depositors $169,000. No cause is assigned for the failure.
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AN OHIO BANK CLOSES ITS DOORS. Franklin, Ohio, Aug. 23.-The First National Bark closed Its doors this morning, and Controller Eck's instructed Bank Examiner Betts to take chare. The May statement of the bank shows that it hd loaned $241,000. The individual deposits were $123.00; demand certificates, $21,000, and re-discounts, $37.00. President Charles M. Anderson left the city at o'clock this morning. E. B. Thirkield and R. P. Evans, two of the directors, did not know of ne suspension until some time after opening hous. The amount due to depositors is estimated at $102.000.
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A Cincinnati Bank Suspends. Cincinnati, Aug. 23.-The First National bank of Franklin, Ohio, has suspended. Examiner Betts has been ordered to take charge. The cause of the suspension is stated to be a falling off in deposits and the holding of discounted paper that will not mature in time to meet obligations. The president is C. M. Anderson. The bank has a capital of $100,000. The last statement showed a surplus of $20,000; undivided profits, $38,000. It is the general impression that the depositors will be paid in full as the assets are largely in excess of liabilities. The deposits are said to be only $100,000.
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CONDENSED TELEGRAMS. According to the union officers the strike of the Boston clothing operatives is virtually won and union conditions and wages will henceforth be the rule in that city. Vice President Stevenson and party arrived at Tacoma from Alaska yesterday. He starts east to-day. Attorney General Harmon has instructed United States District Attorney Clarke, of Wyoming, to sue out writs of habeas corpus for the Bannock and Shoshone Indians who are under arrest at Evanston, Wyo., for violation of the State game laws. Nine hundred and fifty thousand dollars in gold will be withdrawn from the sub-treasury in New York for export to-day. This will reduce the gold reserve to $100,829,524. The total loss since withdrawal of of the gold last of Saturday, to-day, is exclusive $3,200,000. and the net loss is $699,847. The syndicate deposited $2,000,000 and $500,151 in gold was added to the reserve from miscellaneous sources. The First National Bank of Franklin, O., has suspended. Miss Peck, of Providence, R. I., has climbed the peak of the Matterhorn, 14,705 feet above sea level. Frank A. Reed, of Alexandria, Va., suicided yesterday. President Cleveland will touch the button at Gray Gables on September 18 and set in motion the machinery of the Cotton States Exposition. One of the Northern Pacific train robbers was captured near Gothenburg, Nebraska, yesterday. Bloodhounds have been secured and the capture of the entire gang is expected. At Petersburg, Ills., yesterday, while a cage filled with miners was being lowered into Hill Top mine, the cable broke and the cage dropped to the bottom with great force. Seven miners were injured, of whom four will likely die. Miss Emma Rockefeller, eldest of the four children of Wm. G. Rockefeller, one of the two brothers who control the Standard Oil Company, is engaged to marry Dr. David Hunter McAlpin, Jr., of New York, son of the millionaire tobacco manufacturer. J. Keir Hardie, president of the Independent Labor party of Great Britain and well known by his Socialistic speeches in the last Parliament, arrived at New York on the Campania for a lecture tour.
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An Ohio Bank Falls. Cincinnati, Aug. 23.-The First National bank of Franklin, O., has suspended. Examiner Betts has been ordered to take charge. The cause of suspension is stated to be the falling off in deposits and the holding of discounted paper that did not mature in time to meet obligations. The president is C. M. Anderson. The bank has a capital of $100,000. The last statement showed a surplus of $20,000; undivided profits $38,000. It is the general impression that depositors will be paid in full. as assets are largely in excess of liabilities. The deposits are said to be only $100,000.
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A BANK BUSTS. CINCINNATI, O., Aug. 23.-The First National Bank of Franklin, O., has suspended. Examiner Betts has been ordered to take charge. The cause of the suspension is stated to be the falling off in deposits and the holding of discounted paper that did not mature in time to meet the obligations. The president is C. M. Anderson. The bank has a capital of $100,000. The last statement showed a surplus- of $20,000; undivided profits, $38,000. It is the general impression that the depositors will be paid in full as the assets are largely in excess of the liabilities. The deposits are said to be only $100,000.
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First National Bank of Franklin, Warren County, Ohio, had closed its doors. He telegraphed Bank Examiner Betts to assume charge of the failed bank. At the date of the last report, July 11, the bank had $224,000 in loans and discounts, and owed individual depositors $169,000. No cause is assigned for the failure.
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An Ohio Bank Suspends. The First National Bank of Franklin, Ohio, has suspended. Controller Eckels has received a telegram from the cashier of the bank, announcing that the bank closed its doors yesterday morning, and asking him to place some one in charge of its affairs. Bank Examiner Madison Betts was immediately instructed to proceed to Franklin and assume charge. No statement of assets and liabilities has yet reached the Treasury Department.
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Bank Surprises a Community. FRANKLIN, O., Aug. 24-The community was astonished to find that the doors of the First National bank did not open. It afterward developed that Comptroller Eckels had been advised of the suspension. It is the general impression that depositors will be paid in full, as the assets are largely in excess of liabilities.
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National Bank in Ohio Fails. WASHINGTON, Aug. 24.-Comptroller Eckels was informed Friday that the First national bank of Franklin, Warren county, O., had closed its doors. He telegraphed to Bank Examiner Betts to assume charge of the failed bank. At the date of the last report, July 11, the bank had $224,000 in loans and discounts, and owed individual depositors $169,000. No cause is assigned for the failure.
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10 uonaod ansuress янт State Center, Ia., was burned. presumably by parties who were robbing a clothing store. A MOB took Noah Anderson (colored) from the jail at NewRichmond. O., and hanged him for the murder of Franklin Fridman. nearly 80 years old and president of the First national bank of that place. THE sealing schooner George R. White, which sailed from Seattle, Wash.. with fourteen men on July 14, 1894, was given up for lost. JUSTICE BROWN has been assigned to the Sixth circuit to fill the vacancy caused by the death of the late Justice Jackson. JOHN STRAUSS shot and killed Will Gilbert and James Owens, brothers-inlaw. near Keystone, W. Va. A family feud was the cause. THE six directors of the American Railway union, except EugeneV. Debs, were released from the jail at Woodstock, Ill., having served a three months' sentence for contempt of court. Debs has three months more to serve. JESSIE ISBORG, crazed by religion, fatally wounded his landlady at Pine Bluff, Ark., and killed himself. MRS. WILLIAM McGuire and James Brown, brother and sister, were reunited at Nevada, Mo., after a twenty years' search for each other. AT the Washington park track in Chicago Joe Patchen and John R. Gentry raced for the world's pacing championship, the former winning in three straight heats, the mile heats being paced in 2:05 1/4, 2:07 1/2 and 2:07 14 respectively. THE corn, hay and fruit crops of Virginia are the largest for ten years. CHARLES R. BISHOP, of San Francisco, first vice president of the Bank of California, has contributed $800,000 to schools and societies in the Hawaiian islands. THE expenditures of the government for the first two-thirds of the present month exceeded the receipts by $7,009,993 THE Society of American Florists, in session at Pittsburgh, Pa., elected William Scott, of Buffalo, president. DR. L. F. CARTER, of Boston, and Miss Foster and Miss Elora, of New York, were drowned near Ellsworth, Me., by the overturning of a boat. RAILWAY men announced that it would require two years to move the Iowa and Kansas corn crops. EIGHT THOUSAND cloak makers were on a strike in New York city for higher wages. A HEAVY frost, destructive to crops and fruit, visited Susquehanna, Pa. At Gulf Summit ice formed to a considerable thickness. FIRE that started in the warehouse of the Union Steamboat company NAMIN u! blocks uszop e burned kee and destroyed property worth THE Grand Union hotel at Congers, N. Y., burned with its contents. The guests lost all their baggage. SEVERE frostsoccurred in the vicinity of Warren, O. THERE were 222 business failures in the United States in the seven days ended on the 23d, against the week previous and 234 in the corresponding time in 1894 A MASKED mob went to the jail at Monticello, Ark., broke down the door, secured Jim Jones, a negro charged with murder, and hanged him. THE exchanges at the leading clearing houses in the United States during the week ended on the 23d aggregated $900,518,416. against $873,743,725 the previous week. The increase, compared with the corresponding week in 1894, was 10.7. FIRE at Shelbyville, Ind., destroyed Conroy, Bierly & Co.'s table factory, the largest of its kind in the world. Gov. CULBERTSON announced for the second time that no prize fighting would be allowed in Texas while he Rovernor. SUM A CIRCULAR signed by every presiding elder of the Methodist church of Ohio has been sent to the members of that denomination throughout the state calling for united political action on the part of all Methodists in an effort to elect to the next legislature as many members as possible who will fight the saloons. THE returns of internal revenue receipts for July, the first month of the current fiscal year. show that the total receipts were $13,579,663, a decrease as compared with July, 1894, of $11,979,231. The first national bank of Franklin, O., closed its doors with liabilities of $170.00 FIRE destroyed the tannery combuildings Irvona
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Several bank failures are reported in the West, among them the First National, Franklin, Ohio, capital $100,000; Commerclal bank, Milwaukee, capital 834,600, voluntary Rquidation: Bowling Green bank, Bowling Green, Mo., capital $25,000; Bank of Dawn, Mo., Habilities $36,000; Dan. Head & Co., private bankers, Kenosha, Wis., capital $100,000. The Farmers and Mechanics' Insurance company, Alexandria. Va., has been placed in the hands of a receiver. Spelman Bros., fancy Goods, New York, have assigned. liabilities $250,000, and receiver applied for Hughes Steam Pump company, Cleveland, Ohio.
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Bank Allowed to Reopen. The First National Bank, of Franklin, O., which suspended payment August 23, 1895, having complied with all of the conditions imposed by the comptroller of the currency. precedent to its resumption, and its capital stock being now unimpaired, has to-day been permitted to reopen its doors for business.
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Bank Resumes Business. WASHINGTON, Oct. 12.-The First naif tional bank of Franklin, O., which suspended payme nt August 23, 1895, having complied " ith all of the conditions imposed by the com otroller of the currency, precedent to its resumption, and its capital stock being now unimpăired, Saturday was permitted to reopen its doors for business.
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Bank Resumes Business. WASHINGTON, Oct. 14.-The First national bank of Franklin, O., which suspended payment August 23, 1895, having complied with all of the conditions imposed by the comptroller of the currency, precedent to its resumption, and its capital stock being now unimpaired, Saturday was permitted to reopen its doors for business.
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IN GENERAL John Monosmith shot and gilled Miss Gertrude Lally, 18 years old, in Eaton, O., Saturday night. He was jealous. The Temple Opera House in Duluth, Minn., was destroyed by fire early on Sunday morning. The loss is placed at 890,000. In a fight with pistols in New Orleans on Saturday, Tony Lavia was killed and Dennis Corcoran severely wounded. J. J. Mosely, a liquor constable, was shot and killed at Greenwood, S. C., early Sunday morning. He had just seized come liquor that had arrived on a train. Crzscenzo Morello was arrested in Boston Sunday by a detective from Scranton, Pa., on a warrant charging him with the murder of Emanuel Lore in Lackawanna, June 17th, 1894. W. McInnis of the Canadian geological survey, has returned to Ottawa from the Rainy river district. says the gold belt extends over 400 miles, and that hundreds of claims have been taken up. Frederick Valkman, James Heuster, William Reynolds and Harry Steiner were drowned on Sunday. A boat in which they were crossing the eastern branch of the Patapsco river at Balti. more was capsized. The Massachusetts Reform Club gave a banquet in Boston on Saturday night, at which the principal address was made by Secretary Carlisle. He laid especial stress upon the necessity of retiring the demand notes. William Mack and Henry Convery, attendants at the State Hospital at Morris Plains, N. J., were arrested on Saturday for beating to death Nicholas Dolfus, an insane patient at the hospital. Both men were drunk. The jury in the case of Frank W. Harris, a professional base-ball player, tried for the murder of Charles Bengle, whom he shot last May, returned a verdict, at Freeport, Ill., Saturday, of guilty, and fixed the death penalty. The First National Bank of Franklin, O., which suspended payment August 23d, 1895, has complied with all of the conditions imposed by the comptroller of the currency precedent to its resumption, and was permitted to reopen its doors for business on Saturday. Franklin L. Pope, aged 65, of Great Barrington, Mass., was instantly killed in the cellar of his home at that place Sunday night by receiving an electrial shock of 3,000 volts. He was president of the local electric company, and a nowerful convertor had been placed in his cellar. Passengers who arrived from Havana Saturday at Key West, Fla., report that Chief of Police Trujillo has been arrested on the charge of defrauding the government. A conspiracy to loot the government is said to have been discovered, and $1,000,000 is said to have been stolen. Judge Josiah Coombs made a statement at a Republican meeting in Knott county, Ky., Fridav night, which displeased the audience, and a general fight with knives and pistols took place. When order was restored the judge and two Democrats were dead e and a dozen others were injured. Monday of next week will be Negro Day at the Atlanta Exposition. Dr. J. W. E. Bowen, professor of his-' torical theology at the Gammon School of Theology, in Atlanta, will be the orator of the day. It is said that his speech will be fully as memorable as the speech made by Prof. T. Booker Washington on the opening day. It is said that the negro race accepts and indorses every word spoken by Prof. Washington on that day.