18522. 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
March 6, 1886
Location
Bradford, Pennsylvania (41.956, -78.644)

Metadata

Model
gpt-5-mini
Short Digest
01f13eda

Response Measures

Borrowed from banks or large institutions

Description

Multiple contemporaneous newspapers report a slight run on March 6, 1886 triggered by discovery of embezzlement by clerks (Christie/King). The run was met by $200,000 from the Seaboard Bank of New York. No suspension, receivership, or closure is reported.

Events (1)
1. March 6, 1886 Run
Cause
Bank Specific Adverse Info
Cause Details
Discovery/arrest of clerks Thomas Christie (Christian) and Horatio/James King for embezzling large sums (lost in oil speculation), prompting withdrawals.
Measures
$200,000 advanced from the Seaboard Bank of New York to meet withdrawals.
Newspaper Excerpt
There was a slight run on the First National Bank to-day, which was promptly met by $200,000 from the Seaboard Bank of New-York.
Source
newspapers

Newspaper Articles (10)
1. March 6, 1886 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, March 6, 1886

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Article Text

Bank Clerks Charged with Embezzlement. PITTSBURG March 5.-Thomas Christian and James King, clerks in the First National Bank of Bradford, Pa., have been arrested on a charge of embezzling $60,000 from that institution, most of which was lost in oil speculation. King had charge of the individual accounts and Christian of the correspondence and remittances. They went into collusion and invented an ingenious system of cooking the accounts, whereby drafts were issued on fictitious parties and credits made to appear much smaller than they really were. This has been kept up since last July. A large amount of currency has been laid by in anticipation of a run to-morrow. The young men are well connected. They are imprisoned in a hotel in Bradford, in default of bail. They have confessed to the cashier, and will assist in straightening the books. At the exchange yesterday 400,000 barrels of oil were bought in for their account.

2. March 7, 1886 New-York Tribune New York, NY
Article from New-York Tribune, March 7, 1886

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Article Text

RUN ON A DEFRA UDED BANK. BRADFORD, Penn., March 6.-There was a slight run on the First National Bank to-day, which was promptly met by $200,000 from the Seaboard Bank of New-York, The examination of the defaulters, Christie and King, was set for Thursday. Huntley and Johnson, under arrest, are prepared to defend themselves against the accusation of collusion with the clerks.

3. March 7, 1886 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, March 7, 1886

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Article Text

Run on a Bank. BRADFORD, Pa., March 6.-There was a slight run on the First National bank today. which was promptly met by $200,000 from the Seaboard bank, New York. The examination of the defaulters, Christie and King, was put over to Thursday. Huntley and Johnson, under arrest. are prepared to defend the accusation of collusion with the clerks.

4. March 7, 1886 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, March 7, 1886

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Article Text

Slight Run on a Bank. BRADFORD. Pa., March 6.-There was a slight run on the First National Bank to-day, which was promptly met by $200,000 from the Seaboard Bank, New York. The examination of the defaulters, Christie and King, was put over to Thursday. Hugtley and Johnson, who are under arrest, are prepared to defend the accusation of collusion with the clerks.

5. March 7, 1886 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, March 7, 1886

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Article Text

Run on a Bank. BRADFORD, Pa., March 6.-There was a slight run on the First National bank today, which was promptly met by $200,000 from the Seaboard bank, New York. The examination of the defaulters, Christie and King, was put over to Thursday. Huntley and Johnson, under arrest, are prepared to defend the accusation of collusion with the clerks.

6. March 8, 1886 The Daily Telegraph Monroe, LA
Article from The Daily Telegraph, March 8, 1886

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Article Text

BRADFORD, PA., March 8.-There was a slight run on the First National Bank Saturday, which was promptly met by $200,000 from the Seaboard Bank of New York. The examination of the defaulters, Christie and King, was put over to Thursday. Huntley and Sohnson, under arrest, are prepared to defend the accusation of collusion with the clerks.

7. March 8, 1886 The Argus Rock Island, IL
Article from The Argus, March 8, 1886

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Article Text

A Nice Lot of Thieves. BRADFORD, Pa., March 8.-Thomas Christie, aged 21, and Horatio King, age 20, clerks in the First National bank here have been arrested for embezzling $50,000 from that institution, most of which they lost in speculation. The bank will lose about $40,000. The balance of the deficiency can be realized. A large amount of currency has been laid in in anti ipation of a run. King and Christie confessed their crime to the cashier and are assisting him in finding fraudulent entries.

8. March 13, 1886 The Milan Exchange Milan, TN
Article from The Milan Exchange, March 13, 1886

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Article Text

LATE NEWS ITEMS. FRANCIS O'KERFE, a prominent and wealthy farmer and stock buyer, was arrested at Cottage Grove, Wis., on the 6th on the charge of fraudulently manipulating scales while purchasing live stock and thus defrauding sellers. THE condition of the convict farm in Talaposa county, Ala., is said to be frightful, and the treat nent of convicts most barbarous. The parties involved will be prosecuted. THE statement of the Louisville and Nashville Railroad Company for the month of February shows gross earnings of $1,063,400, a decrease compared with the same month last year of $19,847. ABOUT 1,000 men employed in the Studebaker Wagon and Carriage Works laid down their tools and quit work on the 6th. THE first year's work of the Democratic party shows as a result over 25,000 offices filled with Democrats. IT is said that a large number of Sena tors and Representatives have agreed to remain away from the President's official receptions unless they receive formal invitations to be present. A ST. LOUIS dispatch estimates that 9,000 Knights of Labor are in the strike"on the Gould system. PERRONIER, who fired a revolver in the French Chamber a few days ago, has been sent to a mad house. CAPT. FRED. A. BLANKS, a well-known Ouachita river man, died at New Orleans on the 6th. THE grain elevator of D. Furrers, located at Easton, Ill., was burned on the 6th. Loss, $36,000; insurance, $25,000. IT is said that President Zimmerman, of the Chesapeake and Nashville road, reports that in conference with C.P. Hun tington and associates it was decided not to build a bridge across the Ohio river. THERE was a slight run on the First National Bank of Bradford, Pa., on the 6th, which was promptly met by $200,000 from the Seaboard Bank of New York. ALL the Knights of Labor at St. Louis. to the number of 400, employed on the Gould system of railroads, struck on the 6th. U. S. SENATOR JOHN F. MILLER, of California, died at Washington on the 8th. His remains will be taken to California for interment. THE House Committee on Pensions on the 8th agreed to report a bill to pension n the surviving soldiers and sailors of the Mexican war. DAVID SNOW, a prominent citizen of Camden, Ark., committed suicide on the 3th. COMMISSIONER COLMAN reports unfavoran bly on LeDuc's South Carolina tea farm, and thinks it might better be abandoned.

9. March 13, 1886 The Milan Exchange Milan, TN
Article from The Milan Exchange, March 13, 1886

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Article Text

FIFTY Sioux Indian girls have recently entered the Wabash (Ind.) school. MARQUIS TSENG has left the Chinese diplomatic service and has become the chief of the Chinese Admiralty. JEM SMITH, the champion pugilist of En. gland, whom Sullivan is aching [not] to meet, was given a benefit at St. James' Hall, London. on the night of the 6th, at which he was presented with a championship belt worth $15,000. THERE was a slight run on the First National Bank of Bradford, Pa., on the 6th, which was promptly met. A FIRE at Akron, O., on the 6th, which started in Fred. Schumacher's oatmeal mills, caused a loss, before being subdued, estimated at $1,000,000. THE French Senate on the 6th adopted the Madagascar treaty.

10. March 13, 1886 St. Landry Democrat Opelousas, LA
Article from St. Landry Democrat, March 13, 1886

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Article Text

CONDENSED TELEGRAMS, A DUEL with pistols between Trinidad Alverez and Senor Paradez was fought at Chippur, Mex., on the 7th. Paradez received three wounds, and it is believed will die. Alverez was k lled insta tlv. THE House Committee on Levees and Improvements of the Mississippi R ver have agreed to report favorably a bill to appropriate $8,000,000 to close gaps in and strenghten the levees of the Mississippi river. FRANCES O'KEEFE, a prominent and wealthy farmer and stock buyer, was arrested at Cottage Grove, Wis., on the 6th on the charge of fraudulently manipulating scales while purchasing live stock and thus defrauding sellers. THE condition of the convict farm in Talaposa county, Ala., is said to be frightful, and the treatment of convicts most barbarous. The parties involved will be prosecuted. THE statement of the Louisville and Nashville Railroad Company for the month of February shows gross earnings of $1,063,400, a decrease compared with the same month last year of $19,847. ABOUT 1,000 men employed in the Studebaker Wagon and Carriage Works laid down their tools and quit work on the 6th. THE first year's work of the Democratic party shows as a result over 25,000 offices filled with Democrats. IT is said that a large number of Senators and Representatives have agreed to remain-away from the President's official receptions unless they receive formal invitations to be present. A ST. LOUIS dispatch estimates that 9,000 Knights of Labor are in the strike' on the Gould system. PERRONIER, who fired a revolver in the French Chamber a few days ago, has been sent to a mad house. CAPT. FRED. A. BLANKS, a well-known Ouachita river man, died at New Orleans on the 6th. THE grain elevator of D. Furrers, located at Easton, Ill., was burned on the 6th. Loss, $36,000; insurance, $25,000. 1T is said that President Zimmerman, of the Chesapeake and Nashville road, reports that in conference with C.P. Huntington and associates it was decided not to build a bridge across the Ohio river. THERE was a slight run on the First National Bank of Bradford, Pa., on the 6th, which was promptly met by $200,000 from the Seaboard Bank of New York. ALL the Knights of Labor at St. Louis, to the number of 400, employed on the Gould system of railroads, struck on the 6th. W. B. HOWARD deliberately shot A. R. Russell on the street at Kingston, Texas, on the 6th. .