17576. First National Bank (Marietta, OH)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
142
Charter Number
142
Start Date
March 6, 1933
Location
Marietta, Ohio (39.415, -81.455)

Metadata

Model
gpt-5-mini
Short Digest
b177db35

Response Measures

None

Receivership Details

Depositor recovery rate
92.0%
Date receivership started
1934-02-05
Date receivership terminated
1940-04-25
Share of assets assessed as good
28.6%
Share of assets assessed as doubtful
58.0%
Share of assets assessed as worthless
13.4%

Description

The bank was closed during the nationwide bank holiday (president's order) in early March 1933 and never resumed normal operations; a receiver (William/Willard P. Hood) was appointed later (reported Feb 6, 1934). No run is described in the articles. Final clearing of the receivership continued through 1940.

Events (5)

1. December 4, 1863 Chartered
Source
historical_nic
2. March 6, 1933 Suspension
Cause
Government Action
Cause Details
Closed as part of the president's banking holiday (suspension of banks) in early March 1933; bank remained closed thereafter.
Newspaper Excerpt
The bank has been closed since the bank holiday
Source
newspapers
3. February 5, 1934 Receivership
Source
historical_nic
4. February 6, 1934 Receivership
Newspaper Excerpt
William Hood, Cambridge was appointed receiver for the old First National Bank of Marietta today. The bank has been closed since the bank holiday and in the hands of conservator.
Source
newspapers
5. April 18, 1940 Other
Newspaper Excerpt
Persons entitled to the hundreds of unclaimed checks remaining in the final clearing up of the receivership of the old First National bank of Marietta are urged to call at the office of receiver Hood in the bank building at Marietta, this week.
Source
newspapers

Newspaper Articles (3)

Article from The Cincinnati Enquirer, February 7, 1934

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Article Text

Sales Of Stocks On New York Exchange, With Price Ranges And Dividend Rates Sales STOCKS Low Abr & Str's of 20 Adams 8,000 Do Adams-Millis (1) Addressog Advance Rume Affiliat Prod .60) 3,000 Air Reduc (3) Alaska Jun (%b) 6,900 Alleghany 11,400 Al Ch Dye 154% Do pf (7) Allis-Ch Mfg Alpha Amal Lea Amerada Am Ag Ch Del Am Bank Note. Do pf (3) Am Beet Sug Do pf Am Br Shoe (.60) Am Can Am Car Fdy 3,900 Am Chain Am Chicle (3b) Am Coal Alleg(1g) Am Colortype 3,200 9% 9% Sales Net STOCKS Shares Low Last 1,200 320 City Strs 15,400 4,900 A ctf Clark Equip Cluett Pea (1) 400 Coca-Cola (6) 400/105 Palm 8,500 pf Colum 62,000 Colum Colum Com'wlth Sou C'goleum-Na Congress (1) Consol Laundries Cuba Con Text Container Cont Bak Diam Cont Mot Del 13,000 (3) Cream Crosley Radio Crucible Cuban-Am Cudahy Pack Curtis Curtiss-Wright Cushman 7% Cutler-Ham Davega Strs 7% 12,500 pf Mack Detroit Devoe Diamond Mat Do Domin Douglas 19,300 Dresser Dunhill Duplan Silk (1) deN (2%b) Do Duq 95 Eastern Eastman (3) Do pf (6) Eaton Eiting El Auto L El Pow & Lt 27,300 Bat Endicott-John Do pf (7) Eng Pub Sve Do $5 pf WW Bldg(1) Erie R R Do 1st pf Do 2d pf Evans Prod 8,400 16% Sales STOCKS Last Gulf 200 Gulf Sta Stl Hack pf 27 28 Hahn Dept Strs 35,300 Do 1,500 44 Hall Print Hanna Harb-Walker 1,500 Hat Corp 120 Hayes Body 2% Hazel- (5b) Helme (7b) Hercules Hercules Pw Holland Hollander Homestake M (13b) Houd-Her Houston Oil Howe Sound Hudson Man. Hudson Mot Hupp Mot Illinois Central Indust Ray Inger Rand (1½) Inspirat Insurans Insuransh ctf Md) Interb Intercon Interlake Agricul Bus Mach Carriers Cement Harvest Hydro-El Int Nick 56,000 Interest Intertype Jewel Tea 600 Johns-Manville 4,000 Jones pf Kan Pw Sou Do pf Kaufmn Dpt Kayser Spring Kendall (6) Kennecott Kimberly-Clark Kinney Kresge (S S) (.80) Kresge Kress Kroger Laclede Do pf (5) Lambert (3) Lane Bryant Rub&T Lehigh Port C Lehigh Val C Leh Val R R Lehman Life Savers (1.60) Ligg & Myers (5b) Link Belt (.40) Raybest-Man Reading Real Rand Rens Sar (8). Mot Lorillard Do 1 pf Do pf (7) Louisiana Ludlum Stl Repub Stl MacAn Revere Mack Reynolds (1). Macy (R H) (2) Reynolds vtc Reynolds Magma Cop Do B (3) Mallinson Do pf Manati Sug Fairbanks Mor 1,000 Mandel Manh Ry (6) Do mod gtd Fed Mot Fed Screw Marancha Corp Royal pf Safeway Strs St Sales Net STOCKS Low Harlem (5) 135 135 6,700 N Ont 103 Noranda (10b) Do Norfolk Sou Am Aviat No Norwalk Ohio Oil Farm Omnibus Oppenheim Coll 3,000 Otis Stl Do pr pf 400 Outlet Owens-Ill 1,300 Pac 120 Do 1st 10,000 Pac Ltg (3) 5,200 Packard 17,500 Panhand Param Publix ctf Park & Til Parmelee Trans Pathe Exch Do Patino Min. Peerless Penick Ford(3b) Penney (JC)(2.20b) Penn Penn-Dix Do 10,000 People Peoples GL Peoria Marq Pet Milk 5,000 Phillip Morris (1). Philips Jones Phillips Pet 10,100 Phoenix Pierce 11,500 Pierce Pils Flour (1) pf Plymouth Oil 9,600 Postal Pressed Stl 13,900 Gam (1%) Do pf (5) Prod & Ref Do 6% pf (6) Do $5 pf (5) Pullman Pure Purity Bak (1) 3,500 Radio 55,700 Radio-Keith-O 9,500 Sec Stk 1,000 2,400 14 7,400 12 56 +13 14,000 400 100 Savage Arms Schenley Distill Schulte Ret Paper (1%b) Seaboard Air 3,800 Seaboard Marlin-Rock Marsh Filene's Alkali Fire'ne (.40) 6,200 Dow-Jones Averages. Range of stock averages: Thirty Industrials -Open, 110.58 high, 111.25; low, 108.88; last, 110.24; change, off 0.50. Twenty Railroads- Open 52.70; high, 53.07; low, 51.95; last, 52.60; change, off 0.37 Twenty Utilities-Open, 29.96; high. 31.12; low, 29.53; last, 31.03; change, up 1.43. Closing bond averages: Forty bonds 91.22, off 0.26; 10 first railroads 96.11, off 0.23; 10 second railroads 80.37, off 0.49: 10 public utilities 95.12, off 0.22; 10 industrials 93.27, off 0.12. Money. New York, February 6-(AP)Call money steady; per cent all day. Time loans steady; 60 days %@1, 90 days 1, 4 months 1@1½, 5-6 months 11/4 per cent. Prime commercial paper 1%. Bankers acceptances unchanged. BANK RECEIVER APPOINTED Marietta, Ohio, February 6-(AP) -William Hood, Cambridge was appointed receiver for the old First National Bank of Marietta today. The bank has been closed since the bank holiday and in the hands of conservator. Pines Winter Prima Sve $100 par Quaker Oats (4) M(1.10b) Shaler Sears Dredge Stutz Thompson (JR1) Transformer United Gas Utah Radio Util Ind Vortex Cup Walgreen (1) Waukesha M(1.20) Wayne Pump Stores Wise Bankshrs Yates Mach Zenith Rad BONDS 27ctf Total stock 145,000 shares; bond sales exdividend date Ex-rights. stock. gPaid this year. fPayable year. hCash stock mAlso cash or stock dividends paid since January Do B Maytag (26) 2,700 Florsheim Sh McCall Follansbee McCrory Strs Foster Wheel Do pf Seagrave Foundation McGraw-Hill Sears-Roeb Fourth N In(.45g) McInt Inv Film 6,200 McKeesport McKess Rob Servel Freeport Tex Do pf Sharon Fuller pr pf McLellan Strs Sharp Dohme Do 2d pf Do pf Melville Sh (1.60) Gabriel 400 Shattk G) (.28 Mengel Gamewell Shell Union Inv Mesta Mach (1) Simmons Do pf (6) Miami Trans (1) Simms Pet Mid-Cont Pet Asphalt Skelly Oil Midland Sloss-S Minn St Bronze Snider Pack Minn-Hon Cable Vacu Minn-Mol SM Sug Ed StP&SSMLL Cigar Pacific Mo-Kan-T Railway Do pf Borg-Warner Boston Botany Briggs Briggs Strat Bristol Bklyn Do pf (6) Bklyn-Man-T Do pf (6) 5,000 Bklyn (5) Brunswick Bal Bucyrus-Erie cvt Budd Mfg Do pf Budd Wheel Bullard Co Burns Bros Do Burr Ma Term Bush Bldg pf ctf Butte Sup Butte Cop Butterick 35,800 Byers Co Do pf Gen Foods (1.80) Spald Do pf Mohawk Cpt 69,400 Sparks Monsan Calif Pack Montgom Ward Do $8 pf A Spencer-Kell Callahan Morrell (2) Calumet Hec Mother Lode Sperry Spicer Campbell Wy Moto Ale Spiegel May Stern Motor Adv Brands Canad Pac Motor Wheel Std Com Tob Cann Mills (1.15b) Mullins Mfg Cap Adm Do pf (6) Munsingwear Do pf (4) Murray 1,400 Caterpil Tract Myers Bro Invest Celanese 5,900 30% Celotex Refract Nash Mot (1) ctf Acme Do pf St1 pf Aviation Cent Aguir (1½) 1,000 31 Gillette Sec Century Rib M Biscuit Cerro Pas 18,200 Gimbel Stewart-Warn Certain-teed 1,000 Glidden 10,900 Stone Web Do Dairy Pr(1.20) Studebaker Ches Ohio Do pr pf (7) Dept 4,800 Do Ches (2.52) 44 Gold Sun Oil Chi Distill Do (6). Do pf Enam Goodrich 13,800 Superheater 12,500 Superior 1,300 1st R 9,000 Superior Steel Chi Gt West Goodyear Sweets 500 10% 10% 4,400 Do pf Symington A 1,300 Chi 2,500 Supply 10,100 Graham-Paige 1,600 Do pf Telautograph (1) 14 Granby M Neisner Bros Chi Pneu Tenn Corp Grand Newport Indust N Y Air Br 2,100 Chi Rk Sul 23,200 N Y Central Do 6% pf 9% Chi Chi M Om Gt No Ry pf pf Thatcher West (2.40) Dock 14 The Fair 11% Do Do pf Chi Yell Cab 2,400 Guantan Sug 2,500 Chick Cot Oil(2g) Continued On Next Page. Do 23 23 Childs Co pf


Article from Morgan County Democrat, August 23, 1934

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Article Text

# Bank Sued By Geo. P. Deshler The Marietta Times of Aug. 17 said: George P. Deshler has filed suit in common pleas court against the First National bank and Willard P. Hood as receiver, seeking judgment for his deposit accounts in the bank and for an accounting on a bond transaction that he claims was completed before the banking holiday and prior to the time that the bank became insolvent. Deshler avers that on Feb. 25, 1933, he placed an order with the bank to buy him a $500 government bond. He deposited bond interest checks in partial payment and wrote his check against his savings account for the balance needed. The bond was delivered to him on March 2, 1933, four days before the president's order suspending all banks. He claims now that he is not being accredited with payment for the bond and will lose its original cost unless he has court protection. He seeks proper credit for payment; asks that he be paid the five percent allotment that banks were ordered to pay to their depositors during the holiday period and seeks to have his deposit accounts fixed at $73.38 in checking funds and $1,493.57 in savings accounts. He further asks that his balances as stipulated be entered as general claims against the bank and its assets. He is his own attorney in the case.


Article from Morgan County Democrat, April 18, 1940

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Article Text

Persons entitled to the hundreds of unclaimed checks remaining in the final clearing up of the receivership of the old First National bank of Marietta are urged to call at the office of receiver Hood in the bank building at Marietta, this week.