First National Bank - Franklin, PA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 189
Charter Number: 189
Start Date: June 15, 1867
Location: Franklin, Pennsylvania (41.383, -79.832)

Metadata

Model: gpt-5-mini
Short Digest: 4b6f2edd

Response Measures

None

Description

OCR in the article is poor. The clipping lists the First National Bank of Memphis among national banks that have failed and are 'now in the hands of receivers' with $90,000 of circulation reverted to the government. No run or temporary suspension is described; a receivership/closure is implied by the list. Date taken from newspaper publication (1867-06-15).

Events (3)

1. January 8, 1864 Chartered

Source: historical_nic

2. June 15, 1867 Receivership

Newspaper Excerpt: The national banks that ... have receivers, following failed and a now in the hands of are the amount of circulating notes with to each: ... the Tennessee $90,National bank of Memphis. Tenn., ... making a total of $832,490, which has reverted to the government, upon the return and destruction of which ... will be at equal amount of circulation ... subject to the rules ...
Source: newspapers

3. December 15, 1923 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. June 15, 1867 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN

Article from Memphis Daily Appeal, June 15, 1867

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Article Text

BANKS. TENNESSEE 90 Merchant's Bank Bank of Chattarooga10 Ocoee Memphis par Planters' Middle Tenn90 20 Southern Tenold is'se..35 40 SO W. Tenn Shelbyville 50 90 Traders' City B'k Nashville Union Commercial Bank par In Canada there are seventy-three yield gold mines, employing 708 miners. The is valof gold for the last three months ued As at an $690,955. illustration of the rapidity with of which the conversion and purchases the seven-thirty notes have been pushed forward it is officially reported that$151, have been taken in by the treas746,600 ury department during the four months ending June 1st. The reports in circulation that the sec- of of the treasury and comptroller of the retary currency are connected with any of efforts whereby the circulation suspended the banks is returned, and new circulation issued to the banks returning are officially denied. The comptroller it, of the currency regards all circulation or retire in the same light as new he circulation, and whenever has unlessed a margin unissued, he will distribute it according to the merits of the applications on file, without regard to who may return the circulation. If parties purthe circulation of retired banksaue they do it at a knows no and chase premium the comptroiler their of entitles own way risk, no of preventing it but that fact in the to any special privilèges new circulation. The national banks that is issue party list of of have receivers, following failed and a now in the hands of are the amount of circulating notes with to each: The First National bank issued Attica, N. Y., $45,000; the Merchants' of National bank of Washington, D. C., the Venango National bank of $180,000; Franklin, Penn., $85,000 the Tennessee $90,National bank of Memphis. Tenn., the First National bank of Newton, 000; Mass., $130,000; the First National bank NaSelma, Ala., $85,000; the First tional of bank of New Orleans, La., banks $180,addition to these, two up their bonds and in the treasury 000. have lawful taken In money deposited to of the the of the United States amount treasury of their outstanding circulation, The First National bank of Caron- First delet, viz: New Orieans, $25,500; the National bank of Columbia, New Orleans. $11,990, making a total of $832,490, which has reverted to the government, upon the return and destruction of which be at equal amount of circulation will an disposal of the comptroller of curthe for distribution, according to the the rency terms and conditions prescribed in national currency act, subject to the rules that governed the distribution by of same the amount originally authorized the act of congress. It has been reported that ex-President Jefferson Davis lost some money which of he was supposed to have in the hands Trenholm & Co. This error. He Frazer, had no funds on deposit with that upon the collapse of the ConMr. Judah Benjamin firm on account of from federacy, firm. the But, the procured Coufedt erate funds, a bill for twelve thousand t dollars in gold, which was duly paid. had received his salary in paper, and the sum for him as a partial cured Confederate Mr. Davis remuneration thus was se1 for the loss of depreciated paper strictly due. It is true, however, that a other members of the Confederate government were not so fortunate ( S The New Orleans Picayune of Tuesday Suit has been instituted in the p says: United States district court by Messrs. f George Soule and others, depositors in c the Bank of Commerce, of this city, o forcing the proprietor, Mr. Jacob Barker, bankruptcy. o Judge Dureil granted, upon the appliof an order to the States marshal, to cation United petitioners, directed seize the S property and effects of the defendant, the to be held subject to further orders of b ti b court. This is the first case either of voluntary or involuntary bankruptey in this in state under the operation of the new bankrupt law. a The showery character of the weather 4 made business more quiet than usual today. Very little was done in the way of S shipping, either by rail or river, Tomorrow, being the regular time for the ol departure of some of our local packets, will no doubt show a improvement. gi COTTON-The same remarks and to quotationsgiven yesterday would answer th very well for to-day. There is the very same firmness and the same difference W n the views of operators. Sales of about of 00 bales were reported to us, of mixed T ots. Receipts for the past 24 hours were 9 bales. No shipments.