18698. City Bank (Harrisburg, PA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
September 7, 1876
Location
Harrisburg, Pennsylvania (40.276, -76.885)

Metadata

Model
gpt-5-mini
Short Digest
cbcbdb83

Response Measures

None

Description

Multiple contemporaneous articles (Sept 7, 1876) report the City Bank of Harrisburg made a voluntary assignment/suspended due to heavy lumber purchases and depreciation in value. A card was posted naming trustees. Later reporting (Jan 4, 1877) describes arrests of the president and sons on fraud/embezzlement charges and shows assets far below liabilities, indicating permanent failure. No run is reported in the articles.

Events (3)
1. September 7, 1876 Receivership
Newspaper Excerpt
...made a voluntary assignment to Hon. Francis Jordan and Dr. George W. Porter, for the benefit of its creditors...
Source
newspapers
2. September 7, 1876 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Extensive purchase of lumber and a depreciation of its value led to financial distress and voluntary assignment.
Newspaper Excerpt
The City Bank has this day made a voluntary assignment to Hon. Francis Jordan and Dr. George W. Porter...
Source
newspapers
3. January 4, 1877 Other
Newspaper Excerpt
Samuel C. Bigler, president of the city bank, which suspended several days ago, and his two sons... have been arrested on charges of conspiracy to defraud, embezzlement and false pretences. The bank's liabilities are $350,000; assets, $70,009.
Source
newspapers

Newspaper Articles (9)
1. September 7, 1876 Evening Star Washington, DC
Article from Evening Star, September 7, 1876

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Article Text

Silver. LONDON, Sept. I.-India bills were allotted yesterday at yayd. lower than last week's allotment. There is flatness in the silver market. The Times in its financial article says 51d. is nearest quotation. The Standard quotes it at 51a51ya. The Financier says probably not more than 51 (dd. could be ob tained for silver deliverable a week or two hence. POLITICAL KOW AT KINGSTON, N.Y. Several Men Shot and One Killed. KINGSTON, N. Y., Sept. 7.-Toe republican campaign club of this city went to Stony Hollow yesterday to raise a pole. After the pole was raised the opposition palied it down, which was the signal for a general melee. Stones were thrown and pistols fired, and it is reported that several men were shot, one of whom is dead. Several members of the republican club from this city receive severe wounds from stones, and one a pistol shot on the side of his head. Failure of the Harrisburg City Bank. HARRISBURG, PA., Sept. 7.-This morning considerable excitement was created in this city by the announcement that the City Bank had made an as ignment. The following card was posted on the door: "The City Bank has this day made a voluntary assignment to Hon. Francis Jordan and Dr George W. Porter, for the benefit of its creditors, in the hope of paying in full." The immediate cause of the suspension, it is understood, was the extensive purchase of lu mber and a depreciation of its value. The bank, it appears, has been strnggling for some time against adverse circumstances, and the assignment is made with the hope that all the creditors should be protected. The vice president states that as near as he can tell the liabilities are $350,000, and he thinks the assets will entirely cover that amount. The majority of the depositors are laboring men and women.

2. September 7, 1876 Gold Hill Daily News Gold Hill, NV
Article from Gold Hill Daily News, September 7, 1876

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Article Text

EASTERN DISPATCHES. SPECIAL TO THE GOLD HILL DAILY NEWS DOMESTIC NEWS. The Goes-Alleu Prize Fight. CINCINNATI. September 7.-About 500 people witnessed the Goss-Allen fight, which commenced at 7:45 this morning, near Walton, Kentucky, eighteen miles / from Cincinnati. In the first round Allen $ I got first blood and the first knock down. The fight was stopped at the end of the seventh round by the militia, Captain Wood, with the Covington Light Guards coming up. They reached a point north of Walton at o'clock. having been carried past the fighting ground by the conductor. Wood stopped the train three miles past the point, and the militia marched back, arriving at o'clock. An aid to the Governor was sent to Eph. Holland advising him that the fight must immediately cease. Holland stopped the fight after seven rounds had been fought. but declares he will make the men fight it out before they reach Cincinnati to-night. Though neither men were much punished Goss has decidedly the worst of the fight. Allen seemed to be trying to close Goss' eyes, having given him three fearful blows on these organs. After being dispersed a second ring was soon formed at a short distance below Walton. The Sheriff was present but hadn't a sufficient posse to interfere. Realizing that they have no time to lose, the men go to work immediately. Allen still maintains the advantage. In the 12th round he almost closes Goss' eyes. Two fouls are claimed by Goss in the 14th and 18th rounds, but not allowed. In the 21st round, during the close of the fighting. Goss falls and is struck by Allen while on his knees. A foul is claimed and allowed. The fight is decided in favor of Goss. Allen shows but little injury about the face. Goss is terribly beaten and is almost blind. The time of the fight was one hour and fifty-two minutes. Allen Arrested. CINCINNATI, September 7.-Two trains from the fight were arrested this afternoon and Allen was arrested. A Bloody Negro Riot In Charleston. CHARLESTON, S. C., September 7.-A serious riot occurred late last night between colored Republicans on one side and colored Democrats and white men on the other. Pistols were freely used on both sides. The rioters held the main thoroughfare from midnight until sunrise, breaking windows. robbing stores and attacking and beating indiscriminately every white man who showed his face. A large number of persons were injured. Several of those shot are in a critical condition. The most intense excitement prevailed. The riotous proceedings of the rice-field strikers on the Combahee have been renewed and the situation is regarded as serious. Some More Free Rights. KINGSTON, N. Y., Sept. 7.-The Republican campaign club of this city attempted to raise a pole at Stony Hallow, but the opposition pulled it down, which was the signal for a general scrimmage. It is reported that several men were shot, one of whom is dead. Several members of the Republican club formed in the city received severe wounds. An International Patent Associasion. PHILADELPHIA, Sept. 7.-The Congress of Inventors. connected with the United States Patent Association, was inaugurated this morning. The object is the improvement of the patent system and the formation of an international association. having reference to greater uniformity among the systems of the world. Bank Suspension. HARRISBURG, Sept. 7.-The City Bank has suspended. Liabilities, $350,000. It is thought that the assets will cover the liabilities. Western Union Dividend. NEW YERK. September 7.-The Western Union Telegraph Company has declared a quarterly dividend of 14 per cent.

3. September 8, 1876 Daily Press and Dakotaian Yankton, SD
Article from Daily Press and Dakotaian, September 8, 1876

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Article Text

BANK SUSPENSION. HARRISBURG, Sept. 7 -The City Bank, $ of this city, has suspended. Liabilities $350,000. It is thought the assets will = eatirely cover that amount. A majority of the depositars are laboring men and women. MOLLY MAGUIRES TO BE HANGED. HARRISBURG, Sept. 7-Gov Partranft has issued death warrants for the execution of Thos. Munley, JRS. Carroll, Jas. Boyle, Hugh Mc Geghan, and Jas. Roorty, Molly Maguires, recently convicted in Schuylkill county The of murder in the first degree. execution takes place October 1st.

4. September 8, 1876 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, September 8, 1876

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Article Text

Bank Suspension. HARRISBURG, September-7.-The City Bank of, this city has suspended. The liabilities are $350,000. It is thought that the assets will entirely cover that amount. The majority of the depositors are laborers.

5. September 8, 1876 The Wheeling Daily Register Wheeling, WV
Article from The Wheeling Daily Register, September 8, 1876

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Article Text

Bank Failure, HARRISBURG, Sehtsmber 7:-The City Bank of this city has suspended. Liabilities $350,000. It is thought the assetts will entirely cover that amount A majority of the depositors are laborers.

6. September 8, 1876 The Morning Herald Wilmington, DE
Article from The Morning Herald, September 8, 1876

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Article Text

The City Bank Makes an Assignment. By Associated Press. HARRISBURG, Sebt. 7.-This morning considerable excitement was created in this city by the announcement that the City Bank had made an assignment. The following card was posted on the door : "The City Bank has this day made a vol untary assignment to Hon. Francis Jordan and Dr. George W. Porter, for the benefit of its creditors, in the hope of paying in full." The immediate cause ef the suspension, is it is understood, was the extensive purchase of lumber and a depreciation of its value. The bank,it appears, has been struggling for some time against adverse circumstances, and the assignment is made with the hope that all the creditors should be protected. The Vice-President states that, as near as he can tell, the liabilities are$350,000, and he thinks the assets will entirely cover that amount. The majority of the depositors are laboring men and women.

7. September 9, 1876 Martinsburg Independent Martinsburg, WV
Article from Martinsburg Independent, September 9, 1876

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Article Text

Failure of the Harrisburg City Bank. HARRISBURG, Pa., Sept. 7.-Th's morning considerable excitement was created in this city by the announcement that the City Bank had made an assignment. The follow ng card was posted on the door : "The City Bank has this day made a voluntary assignment to Hon. Francis Jordan and Dr. George W Porter,for the benefit of its creditors, in the hope of paying in full." The immediate cause of the suspension, it isunderstood, was the extensive purchase of lumber and a depreciation of i' value. The bank,it appears, has been struggling for some time against adverse circumstances, and the adidament is made with the hope that all the creditors should be protect 1. The vice president states that as near as he can tell the liabilities are $350,000, and thinks the assets will enti: ly cover that amount. The major ty of the depositors are laboring men and women.

8. September 9, 1876 The Democratic Advocate Westminster, MD
Article from The Democratic Advocate, September 9, 1876

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Article Text

Considerable excitement was caused in Harrisonburg, Pa., Thursday, by the official announcement that the City Bank had made a voluntary assignment to Hon. Francis Jordan and Dr. George Porter for the benefit of its creditors. The cause of the suspension was an extensive purchase of lumber and a depreciation of its value. The bank has been struggling for some time. The liabilities are $350,000. The majority of the depositors are laboring men and women.

9. January 5, 1877 The Rutland Daily Globe Rutland, VT
Article from The Rutland Daily Globe, January 5, 1877

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Article Text

Crimes and Casualties. THREE HUNDRED HOGS SLAUGHTERED BY A COLLISION. CINCINNATI, J.b.4. On Wednesday the westward bound freight train on the Marietta & Cincinnati railroad, stopped to coal at Vienna. The conductor neglected to flag another freight train, running twelty. five miles an hour, which went crashing through the cars, driving forward such of them as were not splintered, with the engine on the trestle a few rods. Further along two hundred feet of the trestle was burned with the wreck. Three hundred hogs were lost. ARREST OF A BANK PRESIDENT AND HIS TWO FONS FOR FRAUD. HARRISBURG, Pa. Jan. 4. Samuel C. Bigler, pre-ident of the city bank, which suspended several days ago, and his two sons, one ex-cashier, have been arrested ou charges of conspiracy to defraud, embezzlement and false pretences. The bank's liabilities are $350,000; assets, $70.009. Over 1400 persons. mostly of the poorer classes, were depositors. Miss Lousdale, soubrette, Ward's opera house, Newark, N. J., was severely burned last night by her dress taking fire from a stove in the dreasing room Oscar Hudson, of Jersey City, a mulatto, poured boiling water over Martha Shuttle, his mistress, and threw her upon the stove, burning her fatally yesterday. Jealousy the cause.