Clymer National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 9898
Charter Number: 9898
Start Date: May 7, 1934
Location: Clymer, Pennsylvania (40.669, -79.012)

Metadata

Model: gpt-5-mini
Short Digest: 362b18a1

Response Measures

None

Receivership Details

Depositor recovery rate: 60.1%
Date receivership started: 1930-08-22
Date receivership terminated: 1937-02-27
OCC cause of failure: Economic conditions
Share of assets assessed as good: 36.7%
Share of assets assessed as doubtful: 47.8%
Share of assets assessed as worthless: 15.6%

Description

Articles (May–Sep 1934) report the Comptroller appointing Milford Tomb as receiver to take over assets of several banks including the Clymer National Bank, and later property sales by the bank 'by Receiver.' No article mentions a depositor run; evidence points to government receivership and permanent closure.

Events (5)

1. December 6, 1910 Chartered

Source: historical_nic

2. August 22, 1930 Receivership

Source: historical_nic

3. May 7, 1934 Receivership

Newspaper Excerpt: Milford Tomb of Indiana received from the Comptroller of Currency, to take over the remaining assets ... the Clymer National Bank, Clymer; ... he had begun take over the assets the bank and that would require about two weeks time.
Source: newspapers

4. May 7, 1934 Suspension

Cause: Government Action
Cause Details: Comptroller of the Currency appointed a receiver (Milford Tomb) to take over assets; bank effectively suspended operations by government action
Newspaper Excerpt: Tomb Named Bank Receiver...Milford Tomb ... received from the Comptroller of Currency, to take over the remaining assets ... the Clymer National Bank, Clymer; ... Mr. Tomb has begun take over the assets
Source: newspapers

5. August 30, 1934 Other

Newspaper Excerpt: Clymer National Bank by Receiver to Ben J. Kline, lot in Clymer, $6,665.
Source: newspapers

Newspaper Articles (3)

1. May 7, 1934 The Indiana Gazette Indiana, PA

Article from The Indiana Gazette, May 7, 1934

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Article Text

Tomb Named Bank Receiver Milford Tomb of Indiana received from the Comptroller of Currency, to take over the remaining assets the First National Bank and act as ceiver in This five banks for which Mr. Tomb The Citizens National Bank, Indiana; the Clymer National Bank, Clymer; Glen CampNational Bank, Glen Campbell; and National Bank of Mahaffey. Mr. Tomb has not received word as where will handle the affairs of the Indibank. He stated this morning that he had begun take over the assets the bank and that would require about two weeks time. This arrangement nothing with the new First National Bank in Indiana. Because the fact that the bank bought old building. probable that Mr. Tomb will have the affairs taken care some other banking room.

2. August 30, 1934 Marion Center Independent Marion Center, PA

Article from Marion Center Independent, August 30, 1934

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Article Text

REAL ESTATE TRANSFERS Clearfield and Cush Creek Coal and Coke Co. to Chestnut Ridge Coal Co., three tracts in Banks township, $1.00. Meade B. Douglass to S. B. Leasure, two tracts in Green township, $225. Blairsville Savings and Trust Co. to Michael Thomas. lot in Blairsville, $14,500. Indiana County Street Railways Co. to John S. Ortner, tract in White township, $25. Louis Romano to Lottie Rummell one-half acre in Green township, $1. Indiana County Street Railways Co. to Nettie C. Bennett, tract in White township, $1.00. S. B. Leasure to Meade B. Douglass. 26 acres in Green township. $225. James Sbatella to John Elco, tract in Green township, $10. Maria J. Davis to Marguerite D. Fricktad, 32 acres in South Mahoning township, $1.00. Savings & Trust Co., Exr., to Carl R. Bence, lot in Clymer, $5,900. Sutton Miller Co., to Jennie L. Hagens, 100 acres in Pine township. $500. Augustus H. Taylor to Harry D. Taylor, lot in Indiana, $1.00. Clymer National Bank by Receiver to Ben J. Kline, lot in Clymer, $6,665. Delhi Inn Corporation to Leslie F. Jordon, lot in Cherryhill, $600. Joseph Meyerchock to Antonio Meyerchock, lot in Green township, $1.00.

3. September 6, 1934 The Indiana Weekly Messenger Indiana, PA

Article from The Indiana Weekly Messenger, September 6, 1934

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Article Text

Real Esate Transfers Clearfield and Cush Creek Coal and Coke Co., to Chestnut Ridge Coal Co., three tracts in Banks township, $1.00. Meade B. Douglass to S. B. Leasure, two tracts in Green township, $225. Blairsville Savings and Trust Co., to Michael Thomas, lot in Blairsville, $14,500. Indiana County Street Railways Co., to John S. Ortner, tract in White township, $25. Louis Romano to Lottie Rummell one-half acre in Green township, $1. Indiana County Street Railways Co., to Nettie C. Bennett, tract in White township, $1.00. S. B. Leasure to Meade B. Douglass, 26 acres in Green township, $225.00. James Sbatella to John Elco, tract in Green township, $10. Maria J. Davis to Marguerite D. Fricktad, 32 acres in South Mahoning township, $1.00. Savings & Trust Co., Exr., to Carl R. Bence, lot in Clymer, $$5,900. Sutton Miller Co., to Jennie L. Hagens, 100 acres in Pine township, $500. Augustus H. Taylor to Harry D. Taylor, lot in Indiana, $1.00. Clymer National Bank by Receiver to Ben J. Kline, lot in Clymer, $6, 665. Delhi Inn Corporation to Leslie F. Jordon, lot in Cherryhill, $600. Joseph Meyerchock to Antonio Meyerchock, lot in Green township, $1.00. Mr. and Mrs. Floyd Barnett returned home Thursday after a week's sight-seeing at the World's Fair. Bill McCoy and Alf Stile spent the past two weeks in Oil City. While away they took in the Oil Jubilee in Titusville and the Clarion Fair. They returned to Indiana by the way of "hitch-hiking." Miss Betty Cole and the Misses Jane Butterworth, Mary Yahnke, Ruth Kridler, Edith Christie and Ethel Campbell of Clymer, have returned home after a week's vacation at a cottage at Campbell's Mills. Miss Eleanor Lewis of Jamestown N. Y., has been visiting her parents, Mr. and Mrs. J. D. Lewis of Eleventh street. Miss Lewis, who has been doing dietetic work in New York state for the past two years, left Monday for Grove City where she will teach home economics in the Grove City high school. Honored with election to the National Council, Miss Mary St. Clair King, of Indiana, is home from Cleveland, where she attended the convention of the Alpha Sigma Tau sorority. Miss King was elected national organizer. The delegate from Delta chapter of Indiana was Miss Betty Weaver of Ford City. Mrs. Robert Fisher of North Sixth street, has returned to her home after visiting with her parents, Mr. and Mrs. Washburn, in California. During Mrs. Fisher's absence Mrs. Tattnal Brown of Haverford, Mr. Fisher's sister, came to Indiana and took charge of the Fisher children. Mr. and Mrs. Harry Ferguson and daughter Edna and Miss Dorothy Ferguson, of Akron, O., who have been touring in the east, stopped in Indiana over Labor Day to visit with their parents, Mr. and Mrs. Joseph Ferguson, Mr. and Mrs. Wallace R. Myers of town accompanied them on their trip.