18610. Bank of Dubois (Du Bois, PA)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
state
Start Date
March 1, 1895
Location
Du Bois, Pennsylvania (41.119, -78.760)

Metadata

Model
gpt-5-mini
Short Digest
526aba74

Response Measures

Full suspension

Description

Multiple contemporaneous articles (Mar 14–15, 1895) report a run driven by rumors causing the Bank of Dubois to fail to open (suspend) on Mar 14, 1895. A receiver was appointed Mar 26–27, 1895, and after nearly a year of suspension the bank paid a 50% dividend to depositors (reported Jan 23, 1896), indicating partial resolution and resumption of payments. No concrete specific misinformation (false telegram, hoax) is described, so the run is classified as rumor-driven but not a 'random_run'. An embezzlement arrest of ex-cashier in April 1895 is noted and may indicate bank-specific adverse issues, but the immediate trigger reported is rumors and resulting withdrawals.

Events (5)

1. March 1, 1895 Run
Cause
Rumor Or Misinformation
Cause Details
Newspapers report quite a run for the two weeks prior to Mar 14, 1895 driven by certain rumors about the bank's condition.
Measures
None specified aside from later suspension; depositors reportedly anxious but stockholders liable
Newspaper Excerpt
it is said that there has been quite a run on the bank for the last two weeks on account of certain rumors
Source
newspapers
2. March 14, 1895 Suspension
Cause
Rumor Or Misinformation
Cause Details
Bank failed to open Mar 14, 1895 after rumors and a run; articles say bank simply ran out of funds following withdrawals driven by rumors.
Newspaper Excerpt
The Bank of Dubois failed to open its doors this morning.
Source
newspapers
3. March 26, 1895 Receivership
Newspaper Excerpt
Hugh McCollough ... has been appointed receiver for the defunct Bank of Dubois, and, with the stockholders, met the creditors at the opera house this afternoon.
Source
newspapers
4. April 17, 1895 Other
Newspaper Excerpt
Ex-Cashier Wise of the suspended bank of Dubois has been arrested on a charge of embezzlement. He gave bail in $2,500 for a hearing. More arrests are likely to follow.
Source
newspapers
5. January 23, 1896 Reopening
Newspaper Excerpt
After nearly a year's suspension, the bank of Dubois has paid a 50 per cent. dividend to depositors.
Source
newspapers

Newspaper Articles (15)

Article from The Jersey City News, March 14, 1895

Click image to open full size in new tab

Article Text

LITTLE BANK CLOSED. DUBOIS, Pa., March 14, 1895.-The Bank of Dubois failed to open its doors this morning. No statement has been given out and nothing of the bank's condition can be learned. President Long is travelling at present. and Cashier Wise cannot be seen. The depositors, however, are not greatly alarmed. The stockholders are individually liable and all are owners of valuable real estate. It is said that there has been quite a run on the bank for the last two weeks on account of certain rumors, and that the bank has simply run out of funds. The belief is that matters will be adjusted within a week and that business will be resumed.


Article from Alexandria Gazette, March 14, 1895

Click image to open full size in new tab

Article Text

A Bank Suspends. DUBOIS, Pa., March 14.-The Bank of Dubois failed to open its doors this morning. No statement ha been given out and nothing of the bark's condition can be learned. President Long is travelling at present, and cashier Wise cannot be seen. The depositors, however, are not greatly alarmed. The stockholders are individually liable and all are owners of valuable real estate. It is said that there has been quite a run on the bank for the last two weeks on account of certain rumors and that the bank has simply run ou of funds. The belief is that matters will be adjusted within a week and that business will be resumed.


Article from Birmingham Age-Herald, March 15, 1895

Click image to open full size in new tab

Article Text

FAILED TO OPEN. PENNSYLVANIA BANK WITH CLOSED DOORS-DEPOSITORS FEEL HOPEFUL. DUBOIS, Pa., March 14.-The bank of Dubois failed to open its doors this morning. No statement has been given out and nothing official of the bank's condition can be learned. President Long is traveling at present, and Cashier Wise cannot be seen. The depositors, however, are not greatly alarmed. The stockholders are individually liable, and all are owners of valuable real estate. It is claimed that there has been quite a run on the bank for the last two weeks on account of certain rumors, and that the bank has simply run out of funds. The bellef is that matters will he adjusted within a week, and that business will resame then.


Article from The Scranton Tribune, March 15, 1895

Click image to open full size in new tab

Article Text

DUBOIS BANK FAILS. . The Institution, It Is Said, Has Run Out of Funds. Dubois, Pa., March 14.-The bank of Dubois has failed to open its doors this morning. No statement has been given out, and nothing of the banks condition can be learned. It is said that there has been quite. a run on the bank for the last two weeks, on account of certain rumors, and that the bank has simply run out of funds. The belief is that matters will be adjusted within a week, and that business will be resumed.


Article from The Morning News, March 15, 1895

Click image to open full size in new tab

Article Text

BANK OF DUBOIS CLOSED. A Belief That It Will Be Able to Resame Business. Dubois, Pa., March 14.-The Bank of Dubois failed to open its doors this morning. No statement has been given out and nothing of the bank's condition can be learned. President Long is traveling at present and Cashier Wise cannot be seen. The depositors, however, are not greatly alarmed. The stockholders are individually liable and all are owners of valuable real estate. It is said that there has been quite a run on the bank for the last two weeks on account of certain rumors, and that the bank has simply run out of funds. The belief is that the matter will be adjusted within a week and that business will be resumed.


Article from Fort Worth Gazette, March 15, 1895

Click image to open full size in new tab

Article Text

A BANK FAILURE. The President is Traveling in the Holy Land. Dubois, Penn., March 14-The Bank of Dubols of this place closed its doors this morning. No statement has yet been given out, but the depositors are much frightened. The stockholders are individually liable and all are rated well, owning large tracts of real estate here and elsewhere. Rumors of difficulties developed several weeks ago, and it is understood there has been a quiet run on the bank. Several thousand dollars of Borough and school funds were deposited In the bank. President Long of the bank is now traveling in the Holy land.


Article from Rock Island Argus, March 15, 1895

Click image to open full size in new tab

Article Text

Bank of Dubois Closed. DUBOIS, Pa., March 15.-The Bank of Dubois in this place has closed its doors. No statement has yet been given out, but the depositors are much frightened. The stockholders are individually liable and all are rated well, owning large tracts of real estate here and elsewhere. Rumors of difficulties developed several weeks ago and it is understood there has been quite a run an the bank. Several thousand dollars of borough and school district funds were deposited in the closed bank. President Long of the bank is now travcling in the Holy Land


Article from The Indianapolis Journal, March 15, 1895

Click image to open full size in new tab

Article Text

Pennsylvania Bank Closed. DUBOIS, Pa., March 14.-The Bank of Dubois, of this place, closed its doors this morning. The stockholders are individually liable and all are rated well, owning large tracts of real estate here and elsewhere. Rumors of difficulties developed several weeks ago and it is understood there has been a quiet run on the bank. Several thousand dollars of borough and school district funds were deposited in the closed bank. President Long, of the bank, is now traveling in the Holy Land. The directors held a meeting this afternoon and gave out the meager statement that the liabilities of the bank amounted to $70,000, due depositors, and the assets in loans and securities $90,000. The bank will pay dollar for dollar.


Article from The Sun, March 15, 1895

Click image to open full size in new tab

Article Text

Pennsylvania Bank Suspends. DUBOIS, Pa., March 14.-The Bank of Dubois opened for business this morning and closed again inside of an hour on account of shortage of funds. It was rumored lately that the bank was not in good condition. and a run followed. The stockholders. individually liable, are all considered wealthy. The bank's assets are $90,000, exclusive of real estate owned, and the liabilities are not over $70,000. James E. Long, P. S. Weber, Sidney Fuller, M. W. Wise, William Wingert, and L. A. Brady are the stockholders. President Long is out of town.


Article from Richmond Dispatch, March 16, 1895

Click image to open full size in new tab

Article Text

A SURPRISING FAILURE. It Is Thought Due to the Suspension of a Bank. DUBOIS, PA., March 15.-Some surprise was created in business circles this morning when It was learned that H. Loeb, an extensive lumberman, had confessed judgment in various sums, amounting to $52,000. Of this amount $22,000 is in trust for his brother, Morris Loeb, of Philadelphia. Although no certificate of trust has been filed, the entering of the judgment is practically an assignment, which is thought to have been brought about by the suspension of the Bank of Dubois yesterday, it being reported that Loeb is a heavy creditor of the bank. Mr. Loeb has been in business here a long time, and was considered one of the soundest men of the city. He is not in town to-night, and nothing can be learned of his assets, except that it is known he owns some valuable real estate here.


Article from The Somerset Herald, March 20, 1895

Click image to open full size in new tab

Article Text

Out of 22,000 soft coal miners in the Western Pennsylvania district, 17,000 are receiving 69 cents the ton. Senator Batler, the North Carolina Populist, has asked that he be seated on the Republican side. The bank of Dubois, Pa., failed to open its doors Thursday. No statement has been made, but depositors are not worried as the stockholders are wealthy and the bank is believed to be temporarily out of funds owing to an unexpected run on it. The decision of the Illinois Supreme Court that part of the State eight-hour law is unconstitutional is most important and will have far-reaching results. It is the first decision in the United States against the eight-hour law, and presents a new obstacle in the path of the movement for shorter hours. The Columbian line steamer Allianca from Colon was fired on by a Spanish man of war off the east end of the island of Cuba. The firing is likely to lead to serious complications. The owners of the line are very indignant at the insult and say they will demand a reason for the attempt tostop an American mail steamship on the high seas in times of peace. While whirling in the mazy waltz with a fair partner, at a birthday party, given by Herman Weffobres, No. 107 Ayre street, Philadelphia, on Tuesday night, David Hummell lost his ear in a singular manner. He is a man of 48, and became dizzy during the dance. He slipped, reeled and fell, and as he went down, a key that protruded from a door caught in his right ear and tore it off. A strange case of blindness cannot be fathomed by the Easton Pa., doctors. Lizzie Schupp, a domesticat the residence of ex-Councilman Joseph S. Osterstock, Thursday evening in playing with the children put on Mrs. Osterstock's eyeglasses. In some unexplained way she strained the optic nerves and rendered both eyes sightless. The lids are shut tightly and the eyeballs turned up. By the destruction of the hotel of J. D. Junkin, at Mackleyville, W. V., Tuesday Eugene Sisson, 'Squire Corley and Homer Collett lost their lives, and J. K. Williams, James Junkins, Jacob Cofner and William Wilson were severely burned. Two fingers were burned from Williams's hand, and he was seriously burned about the head and neck. Fifteen guests escaped by jumping from windows. About $3,000 worth of property was destroyed, with no insurance. Fire originated in the lobby of the hotel, from defective flues. The fire created intense excitement in the village, but there were no facilities for fighting it, and it was allowed to exhaust itself. A majority of the low grounds in the various militia districts of Lumpkin county, Ga., are without any house for the justices to preside, and the places for legal business are often marked by logs. Last week was court day at several districts, says the Philadelphia "Press," and the officers dealt out justice Friday and Saturday while sitting on a log covered with 12 inches of snow. The legislature two years ago made provisions for the building of comfortable law houses, but no steps have been taken toward it in Lumpkin county. There is no law house evenat Auroria, and court is often held in an unoccupied storehouse. The other day the Omaha grand jury investigating alleged municipal corruption, developed somesensational features. William Donnolly, a gambler admitted having bribed a city official, paying $1,800, but refused to name the man. The distriet court remanded him to jail until he answered with this admonition "I will make you answer if I have to keep you in jail for the remainder of my term. You must answer. Why do you refuse ? It were better for you and better for society had you strapped a couple of pistols


Article from Birmingham Age-Herald, March 27, 1895

Click image to open full size in new tab

Article Text

Fresh breadand candy made daily at C. W. Cody's, 1820 to 1826 3d avenue. je5 tf 2₽ A BETTER FEELING. DUBOIS, Pa., March 26.-Hugb McCollough, ex-councilman, has been appointed receiver for the defunct Bank of Dubois, and, with the stockholders, met the creditors at the opera house this afternoon. As time drags along the creditors have become considerably excited over the bank's affairs, and hundreds of thousands of dollars in judgments have been entered against the stockholders, but since this afternoon's meeting matters are assuming more definite shape, and a better feeling prevails.


Article from The Citizen, March 29, 1895

Click image to open full size in new tab

Article Text

Receiver for Bank of Dubois. Dubois, Pa., March 27.-Hugh - McCullough, ex-councilman, has been appointed receiver for the defunct bank of Dubois. A better feeling now prevails.


Article from The Citizen, April 19, 1895

Click image to open full size in new tab

Article Text

Ex-Cashier Wise Arrested. Dubois, Pa., April 17.-Ex-Cashier Wise of the suspended bank of Dubois has been arrested on a charge of embezzlement. He gave bail in $2,500 for a hearing. More arrests are likely to follow.


Article from The Scranton Tribune, January 23, 1896

Click image to open full size in new tab

Article Text

CONDENSED STATE TOPICS. -. Thomas Metcalf. a boy, was killed by a fall of fire clay at the London mine, Dubois. Pittsburg has the second highest record in the country as a regular army recruit. ing station. After nearly a year's suspension, the bank of Dubois has paid a 50 per cent. dividend to depositors. The oldest foreigner ever naturalize.1 in Allegheny county is August Colterga. han, who has just taken out his papers at 77. A tiger shipped by express in a cage from Philadelphia to Geneva, O., got out of its cage at Corry, and the express messenger had to take to an extra box car on the train. Michael Rockfer placed a dualin cap in a pipeful of tobacco he gave Tudwick Zagley, at Mahanoy City, and when the tobacco was lit an explosion shattered Zagley's hand and face. Mrs. Betsy Kriner, aged 78. and her daughter, Sarah, 52 years. wer buried together at Redfern, Clearfield county, the mother's death having caused the daugh ter's decease of heart disease.