18702. Farmers Bank (Harrisburg, PA)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
February 20, 1893
Location
Harrisburg, Pennsylvania (40.276, -76.885)

Metadata

Model
gpt-5-mini
Short Digest
4531ce03

Response Measures

None

Description

The Farmers' Bank of Harrisburg suspended/closed about Feb 20, 1893 after the cashier F. C. Fink was found short (~$40,000) from speculative losses. The bank was placed in hands of an assignee/receiver but soon resumed operations and paid depositors (an initial 30% dividend) when doors reopened in early March. No article describes a depositor run; this is a suspension due to bank-specific adverse information followed by reopening.

Events (3)

1. February 20, 1893 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Cashier F. C. Fink alleged short about $40,000 from stock/speculative transactions; capital impaired and bank placed in hands of assignee/receiver.
Newspaper Excerpt
The Farmers' Bank, of Harrisburg, Pa., closed its doors yeaterday, pending an investigation by the State banking superintendent.
Source
newspapers
2. March 3, 1893 Reopening
Newspaper Excerpt
The doors of the Farmer's bank at Harrisburg that were closed about a week ago because of a bad speculation by some one, were opened Friday of last week. For the payment to depositors of thirty per cent. of their deposits. ... All the depositors were paid in check on the Harrisburg national bank, signed by Edward Bailey, the president.
Source
newspapers
3. * Other
Newspaper Excerpt
Depositors would be paid in full; stockholders may lose 40 per cent. of their stock. Judgment was entered in court against F. C. Fink, for defaulting cashier of the bank, bonds $10,000. It is stated that his men have made up $20,000.
Source
newspapers

Newspaper Articles (12)

Article from The Wilmington Daily Republican, February 21, 1893

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Harrisburg's Bursted Bank. HARRISBURG, Feb. 21.-The suspension of the Farmers' bank is the talk of the city. Colonel John Motter, a director, says the failure is due to the stock speculations of F. C. Fink, the cashier, who is alleged to be short about $40,000. The impairment of the capital has been made good, but until the assignee finishes his investigation the exact situation will not be known. The capital of the bank was $100,000 and the par value of the stock $60 a share,


Article from The Indianapolis Journal, February 21, 1893

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TELEGRAPHIC BREVITIES. Morgan & Dye. grain dealers at Race and Water streets, Cincinnati, assigned yesterday to John G. Casser. Assets, $28,000; liabilities about the same. The Farmers' Bank, of Harrisburg, Pa., closed its doors yeaterday, pending an 10vestigation by the State banking superintendent. It 18 believed that the depositors will be paid in full, but the stockholders may lose 40 per cent. of their stock. The Manhattan Athletic Club house doors at New York were closed and locked yesterday by a receiver in behalf of creditors. The club owes about one million dollare, which it is unable to pay. The building will be advertised for sale to settle claims. The case of the Islip Health Board against Governor Flower and Health Officer Jenkins was dismissed by Judge Cullen, in Brooklyn, yesterday. The case was the resuit of the Fire island scare. The Judge held that the quarantine officials had no right to establish a permanent station anywhere on Long island. but decided that they might increase their facilities in times of great danger.


Article from Evening Journal, February 21, 1893

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Pennsylvania. In the hearing of the Franklin-Forrest contest before the Legislative Committee at Lancastera number of witnesses produced tax receipts who were not entitled to them. Chairman Talbot called attention to the fact that the county was cheated through the exoneration from taxation that prevailed. The depositors in the defunct Rockafellow Bank at Wilkes-Barre have begun to bring suit against the banker, and the city treasurer will proceed against the banker's bondsmen in order to recover the city's money. The Farmer's Bank at Harrisburg went into the hands of a receiver, its capital having been impaired. Mrs. Thomas Schlicher, of Allentown, was delivered of four children, one boy and three girls. Two were still born and the other two died a short time after birth. Charles Staley shot Rose Staley three times at Pittsburg, and then cut his own throat. He was actuated by jealousy. Judge Pershing, of Schuylkill county, having recovered from his illness, was again on the Pottsville bench. Two Harvey furnaces, for the manufacture of armor plate steel were finished at Bethlehem. Colonel Charles Puff, proprietor of a Williamsport hotel, died.


Article from Grant County Herald, February 23, 1893

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MINOR NEWS ITEMS. For the Week Ending Feb. 21. The golden jubilee of Pope Leo XIII. was celebrated in Rome. A recent earthquake has destroyed the main road in the Yellowstone National park. Gold was said to have been found on Newton H. Huston's farm in Calhoun county, Mich. and his were James Crawford son struck by a train and instantly killed at Springfield, O. During a fierce gale in N. fifteen Brooklyn, blown Y., houses were down. but no one was injured. G. Buck. U. has to Wisconsin as an inbeen Lieut. assigned William S.A., structor of the state militia. Painter, accused of Mrs. her Kate poisoning husband, has been acquitted by a jury at Greensburg, Pa. The Farmers' bank at Harrisburg, Pa., closed its doors voluntarily. Depositors would be paid in full. The National Wallpaper company's big storage building in New York was burned, the loss being $225,000. Twenty-seven persons were killed by the noxious fumes in the Impensada lead mines near Cartagena, Spain. M. B. Vandergrift, a highly-respected citizen, aged 65 years, dropped dead at the Wabash depot in Chillieothe, O. It was reported that flames swept away 10,000 houses in Peking, China, and that a great number of lives were lost. of the tobacco firm of The dryhouse John Finzer & Bros. in was fire, the loss destroyed by Louisville, being Ky., $100,000. Feuds of the natives at Rocktown, Liberia, culminated in a battle in which forty persons were killed and 200 were wounded. Owing to the failure of the cortes to approve schemes the of has ministry the the financial cabinet Portugal of resigned. Ex-Congressman Barksdale, of Mississippi. aged 70 died on his Yazoo failure years, county of (Miss.) heart plantation. mill of the Hudnut company at Mount The large hominy Vernon, Ind., was totally destroyed by fire, the loss being $100,000. George Grier, who built the first log eastern of house in the part Auglaize county, O., was found dead in bed. He was 90 years old. Rear Admiral August Ludlow Case, U.S.N., retired, died in Washington. He was born in 1813 and placed on the retired list in 1885. Several schooners were driven ashore and other sailing craft disabled during a blizzard on Chesapeake bay and six sailors were drowned. Baron Bleichroeder died in Berlin. He was the richest banker in Germany, the fortune left by him being estimated at 100,000,000 marks. The fire losses in the United States during the week ended on the 18th amounted to $1,373,500. The total losses from January 1 to date were $20,703,000. A woman died in the poorhouse at Sweerness, Great Britain, who was bornin the institution ninety-two years ago and had lived there all her life a public charge. Harvey Ramage, who shot and killed in Cairo, 1892, was found of September, Policeman Dunker guilty III., in murder in Cairo and sentenced to the penitentiary for life. In a rear-end collision on the Pitts& burgh. Fort Wayne Chicago railroad at Monroe. Ind., Engineer Knode, Fireman Graham and Brakeman Blackford were fatally injured. In a six-days' contest (eight hours a day) in N. which ended of Syracuse, Y., Aggie Harvey, Pittsburgh, broke the world's record for women for that time by walking 200 miles. One hundred shots were by miners of the the striking exchanged Gatsburg Coal company's mine near and the colored hela, Pa., nonunion- Monongaists, but none of the shots took effect. W. Kendall, one of the best millionaire, business Col. George and aged known 55, a men in the west, 1 room at the Quicide in his Wellingto committe hotel in Chicago. Sickness was the cause. The legislatures of Oregon and Wy. oming adjourned sine die, the latter without breaking the senatorial deadlock. and the governor will appoint a United States senator who will serve two years labaled


Article from The Cambria Freeman, February 24, 1893

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HARRISBURG, February 20.-The - suspension of the Farmer's bank to-day is still the talk of the city. Colonel John Mottet, a director, says the failure is due to the stock speculation of F. C. Fink, the cashier, who is alleged to be short about $40,000. The impairment of the capital has been made good, but until the assignee finishes his investigation, the exact situation will not be known. The capital of the bank was $100,000 and the par value of the stock $50 a share.


Article from The Cambria Freeman, February 24, 1893

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THE Farmer's Bank at Harrisburg, suspended business on Monday. The cashier is short about $40,000 in his account. It is said that he used the Bank's funds in speculation and lost it.


Article from The Forrest City Times, February 24, 1893

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MISCELLANEOUE. ON the 18th the Wyoming legislature adjourned sine die, without having made choice of a United States senator. This leaves the selection of a senator to the governor, providing it can be shown that such an action will be legal. If the governor can appoint. John C. Thompson will probably be selected. A NUMBER of earthquakes have been felt in the Yellowstone national park during the last few weeks, one of which was of the most terrific force. THE whisky trust investigation, which had been delayed several days. owing to the absence of witnesses from Washington, was resumed on the 22d. THE republic of Colombia has granted a temporary extension of the Panama canal concession. The extension is until March 5. AT Harrisburg, Pa., the Farmers' bank closed its doors on the 20th, pending an investigation by the state bankingsuperintendent. It is expected that the depositors will be paid in full, but the stockholders may lose 40 per cent. of their stock ON the 20th, owing to the failure of the cortes to approve the financial schemes of the ministry, the Portuguese cabinet resigned. THE Reading railroad interests were, on the 20th, as the result of a suit by the third mortgage bondholders, represented by ex-senator Platt, placed in the hands of receivers. Chief-Justice Paxson of Pennsylvania, President MeLeod of the corporation, and Elisha P. Wilbur, president of the Lehigh Valley Railroad Co., are the receivers.


Article from The Times, February 24, 1893

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LATER. THE sundry civil appropriation bill occupied the attention of the United States senate on the 20th. The house bill to provide for the publication of the eleventh census was passed. After the disposition of two private bills the naval and agricultural appropriations bills were called up in the house, under suspension of the rules, and passed. THE National Wallpaper company's big storage building in New York was burned, the loss being $225,000. THE Farmers' bank at Harrisburg, Pa., closed its doors voluntarily. Depositors would be paid in full. THE Philadelphia common council by a vote of 70 to 2 passed an ordinance prohibiting the employment by contractors on municipal works of other than American citizens. THE Philadelphia & Reading railroad has passed into the hands of three receivers. THE fire losses in the United States during the week en red on the 18th amounted to $1,373,500. The total losses from January 1 to date were $20,703,000. CHARLES J. STALEY, a Pittsburgh (Pa.) electrician, shot his wife and cut himself fatally. Jealousy was the cause. IN a wreck of a freight train on the Illinois Central railroad near Lena, III., two cars containing forty-two valnable horses were destroyed and thirty-five of the animals were killed. THREE fishing boats went down in a storm off Banff, on the Scotch coast, and twenty-eight fishermen were drowned. THE struggle in the special congressional committee at Washington over opening the world's fair on Sunday is over and the Sunday closers have won. JAMES CRAWFORD and his son were struck by a train and instantly killed at Springfield, O. THE large hominy mill of the Hudnut company at Mount Vernon, Ind., was totally destreyed by fire, the loss being $100,000. WILLIAM N. ROACH (dem.), of Grand Forks, was elected United States senator from North Dakota on the sixtyfirst ballot. DURING a fierce gaie in Brooklyn, N Y., fifteen houses were blown down, but no one was injured. JOHN C. ENO, who in 1884 fled to Canada in order to avoid arrest and prosecution for having embezzled nearly $4,000,000 of the funds of the Second national bank in New York while its president, has returned and will stand trial.


Article from Huntsville Gazette, February 25, 1893

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MISCELLANEOUS. ON the 18th the Wyoming legislature adjourned sine die, without having made choice of a United States senator. This leaves the selection of a senator to the governor, providing it can be shown that such an action will be legal. If the governor can appoint, John C. Thompson will probably be selected. A NUMBER of earthquakes have been felt in the Yellowstone national park during the last few weeks, one of which was of the most terrific force. THE whisky trust investigation, which had been delayed several days. owing to the absence of witnesses from Washington, was resumed on the 22d. THE republic of Colombia has granted a temporary extension of the Panama canal concession. The extension is until March 5. AT Harrisburg, Pa., the Farmers' bank closed its doors on the 20th, pending an investigation by the state bankingsuperintendent. It is expected that the depositors will be paid in full, but the stockholders may lose 40 per cent. of their stock. ON the 20th, owing to the failure of the cortes to approve the financial schemes of the ministry, the Portuguese cabinet resigned. THE Reading railroad interests were, on the 20th, as the result of a suit by the third mortgage bondholders, represented by ex-senator Platt, placed in the hands of receivers. Chief-Justice Paxson of Pennsylvania, President Mc Leod of the corporation, and Elisha P. Wilbur, president of the Lehigh Valley Railroad Co., are the receivers.


Article from The Carbon Advocate, February 25, 1893

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cuit court in Philadelpb'a appointed as re ceivers of the Readj g railroad and the Reading Coal and Iron company A.A. McLeod, Chief Justice Edward M. Paxson and E. P. Wilber- W. N. Roach (Dem.) of Fargo was thosen United States senator from North Dakota upon the sixty-first ballot. His election decides finally the political complexion of the United States senate by making that body Democratic There was a riot between strikers and nonunionists at the Catsburg coal mine, Monongaheln City, Pa. -Wall street stocks in general were very steady, and some even advanced in face of the panic in Reading stocks and bonds. Transactions in these were on a stupendous scale, altogether exceeding any previous trading on record. Call money was bid up to 12 per cent, but ended at 3 per cent. Gold engaged for export today. $8,500,000 A revolution is said to be imminent in Santo Domingo in consequence of popular opposition to the concession recently granted an American syndicate-The Columbian government granted a temporary extension of the Panama canal concession --M. Le Roye resigned from the position of president of the senate of France, a position that he has filled for many years John C. Eno, who fled to Canada in 1884 after having misappropriated more than $3,000,000 of the funds of the Second National bank, of which he was president, returned and was admitted to $20,000 bail by Judge Wallace. It is reported that President Harrison will pardon himGeneral Pierre G. T. Benuregard died at New Orleans. He was in command of the Confederate forts at the bombardment of Fort Sumter in April, 1861. He also commanded at Bull Run the same year, defeating General McDowell's forces- Sullivan wants to fight Corbett in a small room without mitts-The value of the gold product from the mines of the United States was $33,000,000; the product of silver, 850,750,000-Queen Victoria sent a telegram to the pope congratulating him on his golden jubileeThe Farmers' bank of Harrisburg, Peter K. Boyd president, closed its doors this morning pending an investigation-The sheriff sold out the effects of the Greenway Brewing company of Syracuse under executions amounting to $126,964. The sale realized $1,800-New York State Senator Edward P. Hagan died. Woshingtous Birthday


Article from Martinsburg Independent, February 25, 1893

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county court, Messrs. S. G. Pitzer and L. C. Gerling will sell to the highest bidder, at the front door of the court-house, the old jail property situated on East King St. on Saturday, March 18th, at 1.30 o'clock, p. m. Mr. H. J. Homrich has arrived in Martinsburg, and is now the guest of his father, Mr. Jas. M. Homrich. Our citizens are aware that Harry is the chief participant in the Homrich-Edwards nuptials, which will take place at the bride's residence February 28th. REVENUE COLLECTOR CANDIDATES. The candidates for collector of ternal revenue for West Virginia are E. M. Gilkeson, of Romney, Col. John T. McGraw. who managed Camden's senatoria campaign, and Wm. C. Handland, of Wheeling, an active Faulkner man, and the woods are full of others. It would be impossible to find a parallel to the progress of the United States in the last ten years. Ev ery day that the sun rises upon the American people, it sees an addition of $2,500,000, the daily accumulation of all mankind public, which is equal to one-third of the daily accumulation of all mankind outside of the United States. MR. GEO. WILD SERIOUSLY ILL.We learn with regret of the seriou. and continued illness of Mr. George Wild. We learn that without any premonitory signs he was seized with violent convulsions on Sunday last, and remained in a semi unconscious condition for a long time. Our best wishes are with him and his family for a speedy recovery. DICKINSON MAY ENTER THE CABI is rumored in that Don M. NET.-It Dickinson, Detroit, notwith Mich. standing his previous statements to the contrary, has partially promised to enter the cabinet of Mr. Cleveland as attorney-general. It is believed that Mr. Dickinson's reluctance to give up his large private practice has been overcome. A Vow KEPT. John Sebroyer, aged citizen, died at Myersville, Frederich county, Md., last week. He was 78 years old, and until two years ago, had not allowed his beard to be cut since the war, in consequence of a VOW he made that if the North was successful he would never cut his hair. He stuck to his resolution with grim persistence. A Massachusetts court's sentence of a burglar to half a century's imprisonment is not as hard as it seems will all probability the man serve half of his never for in sentence. A much harder sentence was pronounc. ed a murderer recently by a court-fourteen years labor, and at the end German hard upon In Germany of that at time to be executed. murderers are rarely pardoned. A B. & O. CONDUCTOR IN TROUBLE. The case of Theophilus Burger vs the B. & O. R. R. Co. has been removed from Frederick county, to Washington county, Md. The plaintiff sues the company for $1,000 and alleges that he bought a ticket and and while riding between Brunswick Weverton was beaten, assaulted and otherwise abused and ill-treated by the conductor. THE HARRISBURG BANK SUSPENDepositors in the Farmer's of Harrisburg, Pa., on Tuesday ed Bank, its doors last. which clos been pend- notian investigation, have for fied ing to send in their bank books settlement. It is understood that all depositors will be paid without in Judgment was entered the delay. court to day against F. C. Fink, for defaulting cashier of the bank, bonds $10000. It is stated that his men have made up $20,000. WASHING SUMMER WOOLENS.-Out- woolens flannels and all summer with `ing should be washed in warm suds, by little ammonia. and washed a squeezing through the hands, but Rinse do rub on the washboard. without not warm water and hang up, Then in wringing, until nearly dry. them and take them down, stretch iron iron on the wrong side with an a that is not very hot. Never of put hot iron on woolen goods any and very never rub soap on them News. kind, never wring them.- Buffalo "The SHINING HOUR" has been prewith great care, for the very This pared people of the household. little feature of WORTHINGTON'S MAGaZINE to all one that commends itself entertain have little children to delighted who teach. They will be "A and "Madam Owl's Glasses," with Fellow, Puss and Growier,' Lit. Saucy the charming little story, "The illusMothers," and the amusing Co. tle trations. A. D. Worthington all dealers. Hartford, Conn. For sale by Last January was a fatal month list in- to persons. Its death of eminent Prof. Eben U. Horsford, cludes Harvard College; Charles York A. band Capwell known New pa, the James G Blaine, Benjamin Kemble, master; Butler, Frances Anna exthe old F. school English actress, Julios, President R. B. Hayes, and Eichburg, the Boston composer teacher; Justice L. Q.C. Gen. Lamusic Bishop Phillips Brooks, Summar Doubleday, the hero of Mrs. Abner Senator John E. Kenna; historical ter; Martha J. Lamb, the Campbell, cabinet, postmaster writer, and Judge general James in the Pierce


Article from The Columbian, March 10, 1893

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The doors of the Farmer's bank at Harrisburg that were closed about a week ago because of a bad speculation by some one, were opened Friday of last week. For the payment to depositors of thirty per cent. of their deposits. Those who have had their money locked up for the last ten days in care of "Assignee" Baily and who at first feared it was gone for good were not slow in coming forward to get what they could of it. Mr. Baily and his assistants were kept busy from nine o'clock witen payments began until the doors were closed at three, attending to the constant stream of people which flowed into the bank. All the depositors were paid in check on the Harrisburg national bank, signed by Edward Bailey, the president. It was stated semi-officially that the depositors would receive a second dividend very soon and the banks's offairs were in a more satisfactory condition than had been thought immediately after its suspension.