18521. First National Bank (Bradford, PA)

View Charter #2470 on SPMC

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
2470
Charter Number
2470
Start Date
May 15, 1884
Location
Bradford, Pennsylvania (41.956, -78.644)

Metadata

Model
gpt-5-mini
Short Digest
957e0f73

Response Measures

Accommodated withdrawals, Public signal of financial health

Other: Received currency shipment from Philadelphia; safe and contents brought out publicly to reassure depositors.

Description

Multiple contemporaneous newspaper reports (all dated May 15, 1884) describe a run on the First National Bank of Bradford triggered by the suspension/closure of the Tuna Valley Bank. The First National paid out large sums, received $62,000 in currency from Philadelphia, and displayed specie to reassure depositors; it did not suspend and the rush was over by about 1 pm. Classified as run_only.

Events (3)
1. April 9, 1880 Chartered
Source
historical_nic
2. May 15, 1884 Run
Cause
Local Banks
Cause Details
Run triggered by the suspension/closure of the local Tuna Valley Bank in Bradford, which caused depositors to withdraw from First National.
Measures
Paid out large amounts to all comers; received $62,000 in currency from Philadelphia; displayed greenbacks and bags of gold and silver on the counters to reassure depositors.
Newspaper Excerpt
The suspension of the Tuna Valley Bank to-day caused a run on the First National and Bradford National Banks.
Source
newspapers
3. March 2, 1918 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (8)
1. May 16, 1884 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, May 16, 1884

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Article Text

IN THE OIL REGIONS. One Bank Collapses and Two Withstand a Vigorous Run. BRADFORD, Pa., May 15.-The suspension of the Tuna Valley Bank to-day caused a run on the First National and Bradford National Banks. At the Bradford National the paying teller's window was hardly visible from the street. Two men paid checks as fast as presented. The people formed in line and acted orderly. It is estimated that $75,000 was withdrawn before National the rush ceased. The First paid out a large amount at noon. Sixty-two thousand dollars in currency was received from Philadelphia. Sight stocks, greenbacks and bags of gold and silver on the counters of the banks reassuréd the people in a measure. and at 1 o'clock this afterdoon the rush was practically over. The officers of the Tuna Valley Bank say there are no preferences, and depositors will be paid in full. The officers of the bank are C. S. Whitney, president, and S. A. Wheeler vice-president. J. P. Thompson has been ap, pointed assignee. The Tuna Valley was the Bradford correspondent of the Metropolitan Bank, of New York, which suspended yesterday. The officers of the bank decided. after consultation, that the best interests of the customers would be subserved by suspension. It has been ascertained that $60,000 of Bradford's special funds for the erection of the new water works were deposited in the collapsed Tuna Valley Bank. There was no failures in either of the Bradford exchanges to day, with the exception of Hilton & Waugh. Their difference here was $20,310. Eleven thousand barrels of cash oil were sold under the rule to their account.

2. May 16, 1884 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, May 16, 1884

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Article Text

In the on Regions. PITTSBURGH, PA., May 15.-A Bradford, Pa., special says: The suspension of the Tuna Valley Bank, to-day, caused a run on the First National and the Bradford National banka. At the Bradford National Bank the paying teller's window was hardly visible from the street. The men were paid their checks as fast as presented. The peopie formed in a line and acted orderly. It is estimated that $75,000 were withdrawn before the rushed ceased. The First National paid out a large amount. At noon $62,000 in currency was received from Philadelphia. The sight of atacks of greenbacks and bags of gold and silver on the counters of the bank reassured the people in a measure and at 1 o'clock this afternoon the rush was practically over. The officers of the Tuna Valley Bank say there are no preferences, and the depositors will be paid in full.

3. May 16, 1884 The Democratic Leader Cheyenne, WY
Article from The Democratic Leader, May 16, 1884

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Article Text

The Tuna Bank Suspension. BRADFORD. Pa., May 15.-The suspension of the Tuna Valley bank to-day cansed a run on the First National and Bradford National banks. All comers were paid. The officials of the Tuna Valley bank say there are no preferences, and depositors will be paid in full. The Tuna Valley bank was the Bradford correspondent of the Metropolitan bank, New York. Sixty thousand dollars of Bradford's special funds for the erection of new water works was deposited in the collapsed bank.

4. May 16, 1884 The Rock Island Argus Rock Island, IL
Article from The Rock Island Argus, May 16, 1884

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Article Text

Trouble at Bradford, Pennsylvania, BRADFORD, Pa., May 15.-The Tuna Valley bank has closed its doors. Runs were made on the First National Exchange and the Brad ford National and Dow, "Fullager & Coleman mainly by small depositors. Heavy deposits have been made by several prominent brokers and it is thought the First National willcome out all right. Excitement prevails on the streets, but no panic. The Tuna Valley is thought to be solvent.

5. May 16, 1884 Daily Los Angeles Herald Los Angeles, CA
Article from Daily Los Angeles Herald, May 16, 1884

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Article Text

The Tana Valley Bank Suspensis. BRADFORD, Penn., May 15. - The suspension of the Tuna Valley Bank, today, caused a run on the First National and Bradford National Bank. All comers were paid. The Tuna Valley was the Bradford correspondent of the Metropolitan Bank of New York.

6. May 16, 1884 The Dallas Daily Herald Dallas, TX
Article from The Dallas Daily Herald, May 16, 1884

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Article Text

At Bradford, Pa. BRADFORD, Pa., May 15.-The suspension of the Tuna Valley bank to day caused 8 run on the First National and Bradford National banks. It is estimated $75,000 would drain from the Bradford National before the rush ceased, and the First National paid out & large smount. The officers of the Tuna Valley bank say their depositors will be paid in full. J. P. Thompson was appointed assignee. The Tuna Valley was the Bradford correspondent of the Metropolitan bank, of New York.

7. May 16, 1884 The Daily Cairo Bulletin Cairo, IL
Article from The Daily Cairo Bulletin, May 16, 1884

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Article Text

Excitement at Bradford, Pa. BRADFORD, PA., May 15.-The Tunna Valley Bank closed its doors this morning. A run was made on the First National Exchange and Bradford National and Dow, Fullages & Coleman, mainly by small depositors. Heavy deposits have been made by several prominent brokers, and it is thought the First National will come out all right. Excitement prevails on the street but no panic. The Tunna Valley is thought to be solvent, but fearing a run, closed its doors until the excitement passes over.

8. May 16, 1884 New-York Tribune New York, NY
Article from New-York Tribune, May 16, 1884

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Article Text

THE SITUATION IN THE OIL RE GION. ONE BRADFORD BANK CLOSED-BOTTOM BELIEVED TO HAVE BEEN REACHED. BRADFORD, Penn., May 15.-The Tuna Valley Bank did not open its doors this morning. It was a correspondent of the Metropolitan Bank of New-York, and the announcement was made that on account of the suspension of that bank it was thought best to suspend temporarily. It is thought that the bank will resume in a day or two. A promise has been made to depositors that they will be paid in full. There was a run on the other banks to-day, but all demands were met promptly and the excitement was over by noon. While the run was at its height in the First National Bank a wagon was driven up to the building, a safe and contents of $63,000 taken out and the money spread on the counter beside the paying teller. This restored confidence at once. Only one failure was announced on Change to-day and that was not important. The market was badly de-moralized, but it is thought that the bottom has been reached and that confidence will be restored in a few days.