18567. First National Bank (Clearfield, PA)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
768
Charter Number
768
Start Date
September 30, 1891
Location
Clearfield, Pennsylvania (41.021, -78.439)

Metadata

Model
gpt-5-mini
Short Digest
f08b0711

Response Measures

Full suspension, Books examined

Other: Receivers appointed and criminal charges (embezzlement) against president; later settlement and dividends paid by receiver.

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1891-10-07
Date receivership terminated
1900-01-29
OCC cause of failure
Fraud
Share of assets assessed as good
27.8%
Share of assets assessed as doubtful
19.2%
Share of assets assessed as worthless
52.9%

Description

An unprecedented run (~$40,000) forced the First National Bank of Clearfield to suspend payment Sept. 30/Oct. 1, 1891. The Comptroller appointed a receiver in early October and the bank remained in receivership (closure), with the president arrested on embezzlement charges. Later settlements and dividends were paid by the receiver, but the bank did not resume normal operations.

Events (6)

1. January 30, 1865 Chartered
Source
historical_nic
2. September 30, 1891 Run
Cause
Bank Specific Adverse Info
Cause Details
Continuous withdrawals attributed to loss of confidence tied to management actions (sale of stock by vice-president, alleged embezzlement by officers) and prior troubles at associated Houtzdale private bank.
Measures
None reported other than continued operations until suspension; later suspension of payments
Newspaper Excerpt
An unprecedented run on Saturday, Monday and Tuesday, amounting to nearly $40,000, made it impossible to continue business
Source
newspapers
3. September 30, 1891 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Heavy run stemming from distrust of management and alleged misappropriations; connections to the Houtzdale bank's defalcation and removals of funds contributed to suspension.
Newspaper Excerpt
The First National Bank of Clearfield closed its doors this morning ... the bank suspends payment.
Source
newspapers
4. October 2, 1891 Other
Newspaper Excerpt
W. H. Dill, president of the suspended First National Bank ... was arrested ... charged with embezzlement (warrants sworn out); subsequently rearrested on examiner's warrant and held in $25,000-$30,000 bail).
Source
newspapers
5. October 7, 1891 Receivership
Source
historical_nic
6. October 7, 1891 Receivership
Newspaper Excerpt
The controller of the currency has appointed Benjamin J. Haywood receiver of the First National Bank of Clearfield, Pa.; Bank Examiner Miller recommended receiver be appointed for the First National Bank of Clearfield, Pa..
Source
newspapers

Newspaper Articles (23)

Article from The Record-Union, October 1, 1891

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BANK CLOSED DOWN. Unable to Stand the Strain of a Heavy Run. CLEARFIELD (Pa.), Sept. 30.-The First National Bank of Clearfield closed its doors this morning. An unprecedented run on Saturday, Monday and Tuesday, amounting to nearly $40,000, made it impossible to continue business, and therefore the bank suspends payment. It is thought that the bank will pay in full. HOUTZDALE (Pa.), Sept. 30.-There is intense excitement here to-night over the closing of the Dill Bank at Clearfield and trouble here with the Houtzdale Bank. The wildest rumors are floating about regarding the latter institution, though Cashier McGrath is quoted as stating that the bank will pay dollar for dollar. Hundreds of miners are parading the streets or gathering at street corners, and trouble is feared every moment with the Huns and Slavs who had their all in the bank. The deposits at the First National Bank at the time of the suspension were about $100,000. President Dill says the depositors of both institutions will be paid dollar for dollar. The Houtzdale Bank trouble was caused by the defalcation of Teller Hamilton, a short time ago.


Article from The Cheyenne Daily Leader, October 1, 1891

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SPARKS FROM THE WIRES. Armv officers attribute little importance to the Indian scare in the Pend D'Oreille country. Maj. William McKee Dunn, 3d artillery, United States army, died at Cushing Island, Me., yesterday, aged 48. He was a veteran of the late war. He was a son of Gen. Dunn, late judge advocate of the United States army. The National Civil Service Reform league re-elected George M. Curtis president. The Chrisman bank of Paris has failed. Officers disappeared. Small assets; about $75,000 liabilities. The First National bank of Clearfield, Pa., closed its doors. It had a run of about $40,000. Believed it will pay out in full.


Article from Pawtucket Tribune, October 1, 1891

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MINERS OUT OF POCKET. Closing of a Bank Creates a Big Sensation in a Mining Town. HOUTZDALE, Pa., Oct. 1.-The Houtzdale bank was closed yesterday. The president, W. H. Dill, is also president of the First National bank of Clearfield. Many secret and beneficial associations, the borough and several township treasurers are depositors in various sums aggregating many thousands of dollars. The savings of Hungarian and Swede miners that are locked up in the bank aggregate $70,000. Deposits were received as late as yesterday morning. The excitement is intense and were it believed that any considerable amount of money was in the bank, nothing could prevent the excited Slavs from breaking in its doors. The streets were thronged with miners. Yesetrday was also pay day and a package of about $30,000, sent from Philadelphia by the Berwind Coal company, havIng been sent in the name of the Houtzdale bank, the company's paymaster could not get possession of the money. This added greatly to the excitement. CLEARFIELD, Pa., Oct. 1.-The First National bank of this place closed its doors yesterday. There has been a run on it for a long time.


Article from The Seattle Post-Intelligencer, October 1, 1891

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MINERS HOWLING FOR MONEY. A Pennsylvania Bank Fails, With Heavy Deposits-Violence Threatened. HOUTZDALE, Pa., Sept. 30.-There is intense excitement here tonight over the closing of the bank at Clearfield, and trouble is feared here with the Houtzdale bank. The wildest rumors are floating about regarding the latter institution, though Cashier McGarth is quoted as stating that the bank will pay dollar for dollar. Hundreds of miners are parading the streets or gathering at the street corners, and trouble is feared at any moment with Heasians and Slave, who had their all in the First National bank at the time of the suspension-about $100,000. President Dill says the depositors of both institutions will be paid dollar for dollar. The Houtzdale bank trouble was caused by the defalcation of Teller Hamilton a short time ago. CLEARFIELD, Pa., Sept. 30.-The First National Bank of Clearfield closed its doors this morning. Unprecedented runs Saturday and Monday and Tuesday, amounting to nearly $40,000, made it impossible to continue, and therefore the bank suspended payment. It is thought the bank will pay in full.


Article from The Evening Herald, October 1, 1891

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CLOSED ITS DOORS. The Houtzdale, Pa, Bank Suspends Excited Depositors. HOUTZDALE, Pa., Oct. 1.-The Houtzdale Bank closed its doors at 10:80 yesterday morning. W. H. Dill of Clearfield owned the bank and was its president, with John B. McGrath of Houtzdale, cashier. W. H. Dill is also president of the First National Bank of Clearfield, Pa., which closed its doors at the same time. The Houtzdale bank has done a large business in the way of deposits. Individual deposits range from $13,000 down, while many secret and beneficial associations, the borough and several township treasurers are depositors in various sums, aggregating many thousands of dollars. The savings of Hungarian and Swede miners that are locked up in the bank aggregate $70,000. The excitement is intense and were it believed that any considerable amount of money was in the bank, nothing could prevent the excited Slavs from breaking in the doors. The streets are thronged with miners. Cashier McGrath says that everything is correct in the bank and that if the securities on which the money deposited in the Houtzdale Bank, sent to the Clearfield Bank, are as valuable as he presumed them to be, the depositors will lose nothing.


Article from The Morning Call, October 1, 1891

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DOORS CLOSED. The First National Bank of Clearfield, Pa., Forced to Suspend. CLEARFIED (Pa.), Sept. 30.-The First National Bank of Clearfield, closed its doors this morning. An unprecedented run on Saturday, Monday and Tuesday, amounting to nearly $40,000, made it impossible to continue business, and therefore the bank suspends payment. It is thought the bank will pay in full.


Article from Evening Star, October 2, 1891

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A RECEIVER TO BE APPOINTED.-Mr. Lacey, controller of the currency, received a telegram from Bank Examiner Miller recommending that the First National Bank of Clearfield, Pa., be placed in the hands of a receiver. The examiner, Controller Lacey says, will appoint a receiver as BOOM as he MA and . suitable mea


Article from The Record-Union, October 2, 1891

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Special to the RECORD-UNION. HOUTZDALE (Pa.), Oct. 1.-The excitement over the suspension of the Clearfield and Houtzdale banks continues. When the depositors were informed that that they were likely to receive less than fifty per cent. of their money, the lower classes formed in squads and shouted execrations and threats against the officers, that would certainly have been put into execution had the latter been found. A large delegation of Houtzdale citizens called on President Dill at Clearfield to-night, and demanded and pleaded with him that he make some satisfactory statement. They pointed out that the two towns were actually threatened with financial ruin, and (other disasters in future from private individuals were to be feared unless he made some sort of statement, showing what he could and would do in paying the vast army of depositors in the two banks. To all these pleadings President Dill returned the answer that he was all right and the banks were all right, and if the depositors stood by him they would be all right. This afternoon receivers for the Houtzdale Bank were appointed, and they are now in charge. Bank Examiner Miller took possession of the Clearfield Bank. At the time of the suspension the Houtzdale Bank had deposits of $200,000, but there was less than $60,000 in the vaults. This afternoon and to-night affairs have become alarming. Men: and women clamored at the doors in vain, the tide and pressure before the doors becoming SO great that a strong guard of policemen was finally placed there, and ordered to beat the howling depositors back with clubs, as it was feared that the bank would be demolished and looted. President Dill and Cashier McGrath were arrested to-night upon a petition of one depositor, and gave bail in the sum of $2,000. THE SITUATION AT CLEARFIELD. CLEARFIELD (Pa.), Oct. 1.-Excitement here concerning the First National Bank failure was intensified last night when the condition of things at Houtzdale was learned. The Houtzdale Bank is a private concern, bought by Dill last spring. When Dill took charge he placed John B. McGrath, in whom the community had the utmost confidence, in charge as chashier. This at once stimulated business, and on the first day over $9,000 was received in deposits, mostly coming from poor miners. At that time the deposits did not reach $60,000, but through McGrath's well-known integrity and popularity they grew, until yesterday morning they reach $200,000. Upon opening the bank yesterday McGrath had occasion to telephone the First National Bank concerning a check, and was astounded to learn that it had closed. He at once closed his bank, but had already received several deposits. Word spread rapidly, and before long several Hundred depositors were on the streets. Ignorant Huns and Slavs, who have deposits running from $200 to $2,000, grew frantic when they learned that their money was in danger. The larger depositors at once sought Cashier McGrath, and he informed them that although the deposits reach $200,000, less than $30,000 in paper and currency was in the bank when it closed. He said President Dill had removed a great amount of money, giving as his reason that the Houtzdale vault was not secure, and he would put it in the Clearfield vault. Many of Dell's friends of yesterday are enemies to-day. It is said that he has been borrowing right and left. Only a few days ago his father-in-law, Jonathan Boynton, advanced $20,000 on representation that it would fix everything up and put the bank on its feet.


Article from New-York Tribune, October 3, 1891

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A BANK PRESIDENT REARRESTED. Clearfield, Penn., Oct. 2.-W. H. Dill, president of the suspended First National Bank of this place and of the private bank at Houtzdale which also suspended, and John R. McGrath, cashier of the latter bank. who were arrested last night on the charge of embezzlement, entered ball this morning. Mr. Dill was at once rearrested on a warrant sworn out by Bank Examiner Miller, who is in charge of the First National Bank, and was held in $25,000 ball. He has as yet been unable to obtain bondsmen. The report that Mr. Dill has made an assignment is incorrect, but judgments aggregating $30,000 have been entered against him. Washington, Oct. 2.-Mr. Lacey, Controller of the Currency, received a telegram from Bank Examiner Miller recommending that the First National Bank of Clearfield be placed In the hands of a receiver. The examiner gave no information as to the condition of the bank beyond that indicated by his recommendation. Controller Lacey says that he will appoint a receiver as soon as he can find a suitable man.


Article from The Morning News, October 3, 1891

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DILL IN A CELL. The National Bank Examiner Swears Out a Warrant. CLEARFIELD, PA., Oct. 2.-W. H. Dill, president of the suspended First National Bank of this place, and of the private bank at Houtzdale, which also suspended, and John B. McGrath, cashier of the latter bank, who were arrested last night on a charge of embezzlement, entered bail this morning. Dill was at once rearrested on a warrant sworn out by National Bank Examiner Miller, who is in charge of the First National Bank, and held in $25,000 bail. He has as yet been unable to obtain bondsmen.


Article from Los Angeles Herald, October 3, 1891

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The Clearfield Bank Trouble. CLEARFIELD, Pa., Oct. 2.-W. H. Dill, president of the suspended First National bank of this place, and John McGrath, cashier of the private bank at Houtzdale, who were arrested last night and charged with embezzlement, entered bail this morning. Dill was at once re-arrested on a warrant sworn out by the national bank examiner. WASHINGTON, Oct. 2.-Lacey, comptroller of the currency, received a telegram today from Bank Examiner Miller, recommending that the First National bank of Clearfield, Pa., be placed in the hands of a receiver. The comptroller says he will appoint a receiver.


Article from The Seattle Post-Intelligencer, October 3, 1891

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THE BANK ROBBERS. Dill, the Pennsylvania Wrecker, Held by Officers. MINERS STILL THREATENING. Collapse of a Boston Banking FirmThe Chrisman, Ill., Financiers Gambled Away Money in Chicago. CLEARFIELD, Pa., Oct. 2.-President Dill, of the defunct Houtzdale and Clearfield banks, was arrested again tonight, making the third time today. The last arrest was made on a warrant sworn out in Houtzdale, charging him with the embezzlement of $85,000. He secured bail and is now at his home, closely guarded by officers. It is believed he will go to jail some time tonight, but the officers say they will try and keep him in the house until the arrival of United States District Attorney Lyon and United States Marshal Barrah tomorrow morning. When the news spread that Dill was arrested trouble with the ,depositors broke out anew, and the excitement tonight is almost as great as when the banks first failed. It was generally thought no arrests would be made, at least until later on, and the bank examiner who is in charge of Clearfield bank and Receivers Byers and Dickey, of Houtzdale, were allowed to go quietly on with their work investigating the books of the bank. when they stumbled on accounts and entries which caused their arrest. The Huns and Slave are still wild over their losses, and tonight the late president was burned in effigy. Dill and Cashier McGrath, of the Houtzdale bank, were arrested last night on a charge of embezzlement and gave bail this morning. Dill was at once rearrested on a charge sworn out by the national bank examiner and held in $25,000 bail. The report that Dill had made an assignment is incorrect, but judgments aggregating $30,000 have been entered against him. WASHINGTON CITY, Oct. 2.-Comptroller of the Currency Lacey has received a telegram from Bank Examiner Miller, recommending that the First National bank, of Clearfield, Pa., be placed in the hands of a receiver. The comptroller says he will appoint one.


Article from Evening Star, October 8, 1891

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RECEIVERS APPOINTED.-The controller of the currency has appointed Benjamin J. Haywood receiver of the First National Bank of Clearfield, Pa., and Henry M. Hall, jr., receiver of the Farley National Bank of Montgomery, Ala.


Article from The Morning News, October 8, 1891

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Appointed Bank Receivers. W ASHINGTON, Oct. 7.-The - controller of the currency to-day appointed Benjamin J. Hay wood receiver of the First National National Bank of Clearfield, Pa.. and Henry M. Hail, Jr., receiver of the Farley National Bank of Montgomery, Ala.


Article from Grant County Herald, October 8, 1891

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The News Condensed. Important Intelligence From All Parts. DOMESTIC. A HEAVY wind at St. Louis blew down several buildings and many fences. THE checker championship games, twenty-five in all, played in Chicago by Chartes F. Barker, of Boston. and J.P. Reed, of Chicago, resulted as follows: Barker, 5; Reed, 0; drawn, 21. MRS. HENRY KESSLER, wife of a leading business man at Erie, Pa., was burned to death by the explosion of a gasoline stove. Mr. Kessler in trying to save his wife's life was disfigured and crippied for life and his aged mother was badly burned. THE total number of immigrants arriving in the United States from foreign countries during the month ended August 31, 1891, was 45,172, against 37,381 in August of last year. A MARBLE statue of Pope Leo XIII. was unveiled at Washington. THE forest fires in Wisconsin, Minnesota and the Dakotas have been checked by rain. The losses are enormous and hundreds of families are homeless and penniless. IT was estimated that the output of sorghum sugar in Kansas and beet sugar in Nebraska, Utah and California would reach fully 27,000,000 pounds the present season. IN the nine months of the year 1891 the failures numbered 8,828, with liabilities of $136,000,000, as compared with 7,851 failures and $100,000,000 of liabilities for the same period of 1890. FOREST fires in Eldorado county, Cal., destroyed farm houses and barns, and left over forty families homeless. F. B. WALLACE & Co., New York brokers, failed for $690,000; assets, $623,585. THE steamer Teutonic, of the White Star line, reduced the eastward record by making the trip from New York to Queenstown in 5 days 21 hours and 22 minutes. THE John Seiler Brewing Company of Covington, Ky., has failed for $100,000. DURING a heavy gale the tug Bertha Endress went down near Point Iroquois, Mich., with six men on board, and all perished. FRANK SWEENEY was elected grand master of the Switchman's Mutual Benefit association at the annual meeting in Philadelphia. MANY persons were reported killed at the opening of the new land in Oklahoma. THE biggest oil well ever struck in the United States was opened near Pittsburgh, Pa. Its product was estimated at 10,000 barrels a day. JOHN APPLEMAN, of Buckhorn, Pa., was swindled out of $3,500 by two strangers with "gold bricks." ED POWELL and James Lepor were hanged at Gatesville, Tex., for the murder of John T. Mathiason. AT Lebanon, Pa., Mrs. Thomas Bomberger and her little boy were killed by the cars. THE Kentucky savings bank at Louisville closed its doors. Depositors would be paid in full. R. A. WILSON'S stables at Woodlake. Ky., were burned, together with ten valuable trotting horses. SAM JONES and Sam Small, the noted revivalists, have been summoned before a grand jury at Rome, Ga., for saying in one of their meetings that "Rome was a hotbed of cussedness and corruption." William ALLEN, aged 86 years, who spent a small fortune and fifty years of his life in efforts to ameliorate the condition of workingmen, has been sent to the county poor-house at Columbus, O. GEORGE WILLIAM CURTIS was reelected president of the National Civil Service Reform League at the convention at Buffalo, N.Y. AN American express car was robbed by two masked men between Little Falls and Utica, N. Y. A package containing $5,000 was overlooked. THE First national bank of Houtzdale, Pa., suspended payment on account of the embezzlement of $45,000 by the teller. A TEXAS judge refused to naturalize an applicant for American citizenship who is a socialist. The judge said the principles of socialism were not in harmony with the constitution of the United States. AT Murfreesboro, Tenn., J. H. Allen's livery stable and eleven fine horses and a residence were burned by an incendiary fire. Two MEN were struck and instantly killed by an express train on the Pan Pandle road near Nobletown, Pa. A WATERSPOUT near Elizabeth, Ark., ruined the and cotton crops and did other damage. LARGE numbers of hogs in South Dakota were dying of cholera. THE First national bank of Clearfield, Pa., closed its doors on account of a run amounting to nearly $40,000. THE receipts of the government since September 1 amount to $27,385,000 being an excess of S4 287 000 over


Article from Delaware Gazette and State Journal, October 8, 1891

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GENERAL NJ Edward H. Schermerhorn, of New York died at his cottage in Newport, R. I., on Thursday, aged 73 years. He was worth *000'000'07$ about A telegram was received at the treasury department Friday, announcing the seizure of the steamer Hattie Gage by the revenue cutter Corwin in Behring Sea. British Columbia intends to build at the World's Fair a structure composed of every variety of wood known to the British Columbia forests, and to exhibit in it the country's mineral resources. An appearance has been filed in the Searles will case in Salem, Mass., by attorneys of Los Angeles, Cal., in behalf of Maria E. Bressee of that city, who claims to be an heir-at-law of Mrs. Searles. The Bauetschmidt & Marr brewing plant, of Baltimore, which was sold to an English syndicate in August, 1889; for $200,000 in cash and $400,000 in bonds and stock, is said to have been offered back to the original owners for $125,000 cash. Governor Jackson. of Maryland, has decided that he cannot grant the requisition asked for by the governorof Pennsylvania in the case of Albert A. Marshall, indicted in Pennsylvania for the alleged embezzlement of funds of the Etna Fire Insurance Robert Company. Howe and Nettie Hamburg, convicted in New York of stealing $7,000 worth of diamonds from Jeweller Wernicke, were Friday sentenced by Recorder Smyth. Howe was given eight years and six months and the woman five years and six months. A dispatch from Boston says that eastern boot and shoe men are much exercised over developments which indicate the existence of an organized band of fraudulent western buyers, who are securing large quantities of goods, which are secretly packed and shipped, generally to Chicago auction houses for immediatesale. A case was begun in the courts at Knoxville, Tenn., Friday, to test the legality of the leases by which the convicts are held at the Briceville mines. Judge Sneed decided against the leases, and if the decision is affirmed by the supreme court, it will result in the removal of all the convicts in East Tennessee to the state penitentiary in Nashville. When the through train on the Rock Island railroad reached Englewood, III., Friday morning, the conductor missed a lady passenger who had come through from Denver. He telegraphed to Blue Island, and about two miles west of that point the body of the missing passenger was found lying beside the track. It is believed she accidentally fell off a car platform. There is no clue to her identity. R. G. Dun & Co.'s weekly review of trade shows that the business failures occurring throughout the country during the last seven days number for the United States 201 and for Canada 29. or a total of 230, as compared with totals of 244 last week and 238 for the week previous to the last. For the corresponding week of last year the figures were 197, representing 166 failures in the United States and 31 in the Dominion of Canada. A dispatch from Apia, Samoa, gives an account of the suppression of a rebellion among natives of the island of Monona. Matanfa is said to be still surrounded by a number of discontented chiefs, and is a source of unrest to the country. Complaints are made of the incompetence and neglect of duty of Chief Justice Cedarkrantz. and of the president of the municipal council, who is said to have lost the confidence of the king and the govern ment. The insurance commissioners in session in St. Louis have adopted resolutions recommending the suppression of rebating commissions and the passage of anti rebate laws by the legislatures of the states and favoring the reduction of taxation of insurance companies. These officers were elected George B. Luper, of Pennsylvania, President; Col. H. P. Ellerby. of Missouri: Hon. W. S. Wright, of Georgia, and Hon. MeN Jo 'V 9 T executive committee. William H. Dill, president of the First National Bank of Cleartield, Pa., and of a private bank at Houtzdale, and John B. McGrath. cashier of the latter institution. entered bail Friday to answer charges of embezzlement. Dill was subsequently rearrested at the instance of Bank Examiner M 11 r and held in $25,000 bail, which he was not able to procure. The bank examiner has recommended to the comptroller of the currency the appointment of a receiver for the Clearfield bank. Chicago The convention of the Irish National Fridav


Article from Shenandoah Herald, October 9, 1891

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THE NEWS EPITOMIZED. Eastern and Middle States. THE Massachusetts Democrats in convention at Worcester renominate William E. Russell for Governor. JUDGMENT was renderel against John Bardsley, ex-Treasurer of Philadelphia, Penn., for $394,010. REMEL, the man who attempted to wreck a Lehigh Valley Railroad train at Kennedy's station, near Phillipsburg, N.J., a month ago, has been sentenced to ten years at hard labor in State prison and fined $1000. WILLIAM GOULD, JR., of Albany, N. Y., who was found guilty of aiding and abetting Bookkeeper Whitney in falsifying the accounts of the Albany City National Bank, han been sentenced to six years' imprisonment. AT the meeting of the National Civil Service Reform League at Buffalo, N. Y., George William Curtis was re-elected President. THE First National Bank of Clearfield, Penn., of which William H. Dill is President, closed its doors. President Dill authorizes the following: An unprecedente run, amounting to nearly $40,000, made it impossible to continue business, and, therefore, the bank suspends payment. W. F. GOULD, of Portland, was released from the Maine State Prison on a pardon by the President. He had served five years of a ten years' sentence for embezzlement while acting as cashier of the First National Bank of Portland. THE Soldiers' Monum at was unveiled at Pottsville, Penn., General Horace Porter delivering the oration. DAMAGING frosts were reported in Central Massachusetts and New Hampshire. BOTH claimants to the Governorship of Connecticut have agreed to take their controversy into the State Supreme Court for final settlement. EDMUND H. SCHERMERHORN, of New York, aged seventy-three, died at his cottage in Newport. R. I. He was one of the wealth. test and most eccentric of summer residents. For half a dozen years he has been a recluse. He had been a summer resident there for thirty years. He was worth about $20,000,000. ARLIE MONROE, the twelve-year-old son of Town Treasurer Monroe, of East Providence, R.I., fell from the belfry on the new Town Hall, a distance of seventy-five feet, and was instantly killed. The fatality was the result of an act of bravado. A GENERAL strike of railroad coal miners of the Pittsburg (Penn.) district was inaugurated. It was estimated that nearly 10,000 men quit work. They are firm for the three and a half cent rate. A. B. TURNER & BROTHER, bankers at Boston, Mass., have failed. Their liabilities are about $500,000. ISAAC RANDALL, of Syracuse, N. Y., and his son were killed by a train at Fayetteville.


Article from Alma Record, October 9, 1891

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MEN AND THINGS. Geo. Wm. Curtis has been re-elected president of the civil service reform league. Philips & Cunninghan's oil warehouse, Philadelphia, burned Monday. Loss $500,000. The failures for the month of September number ,754, against 2, 196 for the same month last year. The boycott of the Anheuser-Busch brewing company has been declared off by the knights of labor. Henrietta Merrill, colored, was hanged Monday at Smithville, Va., for the murder of her 8 year-old child. Gov. Steel is at the head of a movement to have the territory of Oklahoma admitted to the union as a state. The navy department estimate for furwishing war vessels already under construction will be $16,000,000 this year. Yale seniors enjoyed their annual shirt rush last week. It was as silly and disgusting as any of its predecessors. James S. Sinclair, who owned a small farm in Lakota, N. D., has succeeded to the title and estate of the earl of Caithness. The exports from the United States during the 12 months ending Aug. 31 were valued at $909,264,438; imports, $839,039,241. S. V. White & Co. will resume business this week. Their assets, it is believed, will be nearly a half million above liabilities. Ralph Ray, of Durango, Col., who murdered his mother, has been arrested and pleads guilty. His father has become insane. Express Messenger Hottel, whose run was between Waco and Gatesville, Tex., has skipped with two packages containing $5,300. Andrew Anderson, Martin Nelson, and an unknown man were drowned by the capsizing of a rowboat at Ashland, Wis., Monday. The refunded 41/2 per cent bonds at 2 per cent amounts to $25,098,950, up to Monday night; the amount redeemed, $17,696,900. Maj. William McKee Dunn, of the Third artillery, U. S. A., died at Cushing's Island, Me., Wednesday. He entered the service at 18. Judge Paschal, of Texas, has refused to naturalize a socialist, R. V. Sauer, because his principles are opposed to those of the United States. The refunding of the 4½ per cent bonds at 2 per cent closed Wednesday. The amount continued is $25,364,500; redeemed, $18,009,600. The First national bank of Clearfield, Pa., closed its doors Wednesday, being unable to stand a run which had been made since last Saturday. T. v. Powderly says the knights of labor and farmers' alliance will hold a convention in Washington February 1st and nominate a candidate for president. The receipts of the government since September 1 amount to $28,385,000, an excess of $4,287,000 over ordinary expenditures during the same time. The United States treasury has $42,000,000 on hand. Which is about $100,000,000 more than it had when President Buchanan vacated the white house. There have been shipped from Duluth, Minn., during the past six weeks 6,500,000 bushels of wheat, of which, it is estimated, 4,000,000 bushels were for direct export. The auditor general of Pennsylvania testified before the legislative committee yesterday that for more than 30 years the state treasurers had bean in arrears during their terms. The sorghum sugar output in Kansas this year will be $,000,000 pounds, of beet sugar it is estimated that Nebraska, Utah and California will produce 24,000,000 pounds. Miners have been parading the streets in Houtsdale, Pa., vewing vengeance on the officials of the Dill bank at Clearfield, which have closed and in which they had all their savings. Ignatius Donnelly has sent a circular to farmers, urging them to hold their wheat for 30 days S longer. He says that farmers are now being robbed of one-third the value of their product. A merchant in Chicago turned over to United States secret service officers several thousand spurious 25c 50c and 10c pieces, a which had been passed in bis store for several years past.


Article from The Cambria Freeman, October 9, 1891

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A Clearfield Bank Closes. The First National Bank, of Clearfield, of which William H. Dill is president, closed its doors on Wednesday of last week. This institution was one of the oldest, and, for years, considered among the strongest banks of the state. President Dill submitted the following for publication: "An unprecedented run on Saturday, Monday and Tuesday on the First National Bank of Clearfield, Pa., amounting to nearly $40,000, made it impossible to continuè business, and therefore the bank suspends payment." There has been a continuous run on this bank since December last. This was occasioned by the fact A.F. Boynton, formerly vice-president of the bank, sold his stock. As a brother-in-law of the presideut, this, of course, created distrust and made a run. The bank has helped a number of business men financially during the past two years, and has lost considerable in this way, The Houtzdale bank, a branch of the Clearfield bank, also closed the same day. Warrants ha ve been sworn out and President Dill is now in jail, charged with embezzling $85,000,


Article from The Abbeville Press and Banner, October 14, 1891

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LATER NEWS. THE total 4½ per cent. Government bonds continued at two per cent. is $25,364,500. THIRD ASSISTANT JOHN MOORE retired from office in the Department of State to undertake the duties of Professor of International Law in Columbia College, New York. Mr. Moore has filled the position of Third Assistant Secretary since Mr. Bayard's accession to the office of Secretary of State. ACCORDING to a Census Bureau bulletin, there are 4510 nurseries in the United States, valued at $41,978,835.80. THE President has appointed ex-Governor E. J. Ormsbee, of Vermont, Land Commissioner in Samoa, vice Henry C. Ide, resigned. THE receipts of the Government since September 1 amount to $25,385,000. The net cash balance in the Treasury, inclusive of fractional silver and deposits in national banks, is stated at $42,000,000. BUSINESS is at a standstill in Savannah, Ga., owing to the spreading of the wharf laborers' strike. A FREIGHT train on the Erie Railroad collided with a passenger train near Kent, Ohio. Three were killed. They were: W. H. Maxwell, road foreman of engineers; Fireman Glass and Mrs. Dewey, of Richland, Mich. Twenty-two passengers were slightly injured. MCCARTNEY'S EXCHANGE BANK, of Fort Howard, Wis., has been robbed of $3000 in money and $4000 in Government bonds. AT the meeting of the National Civil Service Reform League at Buffalo, N. Y., George William Curtis was re-elected President. THE First National Bank of Clearfield, Penn., of which William H. Dill is President, closed its doors. President Dill authorizes the following: An unprecedented run, amounting to nearly $40,000, made it impossible to continue business, and, therefore, the bank suspends payment. W. F. GOULD, of Portland, was released from the Maine State Prison on a pardon by the President. He had served five years of a ten years' sentence for embezzlement while acting as cashier of the First National Bank of Portland. THE Canadian Parliament was prorogued by Governor-General Stanley. IT is reported that the troops in many places in Brazil have mutinied.


Article from The Wilmington Daily Republican, December 31, 1891

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# BANKER DILL'S HEARING. The Accused Financier Held in $30,000 Bail for Trial. CLEARFIELD, Pa., Dec. 31.—The hearing of William H. Dill, late president of the First National bank of Clearfield and the Houtzdale bank, of Houtzdale, took place in Squire McCullough. The information is made by John B. McGrath, formerly cashier of the Houtzdale bank, and charges Dill with having on May 15 drawn $25,000 of the Houtzdale funds out of the Chestnut Street National bank, of Philadelphia, and converting the same to his own use. The prosecution was represented by George B. Orlady, of Huntingdon; District Attorney Wilson and W. I. Shaw. Dill's interests were cared for by J. H. Orvis, J. F. Snyder, Oscar Mitchell and R. D. Swope. The clerks of the First National were called and identified the draft which was sent to Philadelphia, along with the daily statement. They testified that the draft was credited to the individual account of Dill by his order.. Receiver Haywood testified as to Dill's account, swearing it to be overdrawn $4,000 when he took charge. Cashier McGrath swore that he know nothing of the transaction until the Chestnut Street bank sent their statement in June, and that when he inquired of Dill's son he understood it had been drawn by the First National and that Houtzdale was credited on the First National books. After hearing the testimony the justice held Dill in $30,000 for his appearance at February quarter sessions. The bail was promptly furnished.


Article from Pittsburg Dispatch, May 26, 1892

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Banker Dill Makes a Settlement. In the United States District Court yesterday nolle prosses were entered in the four cases against W. H. Dill, President of the First National Bank, of Clearfield. The charges were embezzlement. The settlement of the cases was made with the consent of the Attorney General, the Comptroller of the Currency, the receiver of the bank and its stockholders and creditors. The terms of the settlement were the assignment by Dill to the receiver of the bank of property and the payment of certain claims. This, it is stated, will enable the receiver of the bank to pay the claims of depositors in full, and the stockholders 50 per cent.


Article from The Wilmington Daily Republican, August 18, 1892

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Clearfield Bank Paying Up. CLEARFIELD, Pa., Aug. 18.-The defunct First National bank, of Clearfield, has just declared another dividend to its depositors, which makes a total dividend of 50 per cent. paid by the bank. It is said by the receiver, B. J. Haywood, that every depositor has a reasonable hope of getting his money in full by January next. The bank's ex-president, William H. Dill, and his family are now living in West Philadelphia.