18735. National Bank of South Pennsylvania (Hyndman, PA)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
4063
Charter Number
4063
Start Date
August 3, 1893
Location
Hyndman, Pennsylvania (39.823, -78.718)

Metadata

Model
gpt-5-mini
Short Digest
0ec3d9b8

Response Measures

Full suspension

Other: Multiple newspapers report the bank 'closed its doors' and 'suspended business'; no receiver explicitly named in these extracts.

Description

Multiple contemporary papers report the National Bank of South Pennsylvania at Hyndman (occasionally OCR'd as Hyndmann/Hindman and placed under Huntingdon/Huntington datelines) closed its doors on Aug. 17–18, 1893. Several articles state the firm experienced a run about two weeks earlier that precipitated the failure and tie the bank to failing private businesses owned by John K. and G. B. White (tanneries, steamship interests). No explicit receiver assignment is reported in these clippings, but closure is described as a failure; therefore classified as run -> suspension/closure (permanent).

Events (2)

1. August 3, 1893 Run
Cause
Bank Specific Adverse Info
Cause Details
Depositor withdrawals following troubles of the White firm's business interests (tanneries and other connected enterprises) precipitated heavy withdrawals.
Newspaper Excerpt
The firm experienced a run on the bank about two weeks ago, which is said to have precipitated the failure.
Source
newspapers
2. August 17, 1893 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed following earlier run and the failure/financial troubles of the controlling firm's tanneries and other interests; liabilities reported ~$340k–356k with assets ~$450k.
Newspaper Excerpt
The National Bank of South Pennsylvania, at Hyndmann, Bedford county, closed its doors today.
Source
newspapers

Newspaper Articles (12)

Article from The Roanoke Times, August 18, 1893

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Article Text

Financial Trouble. HUNTINGTON, Pa., Aug. 17.-The national bank of South Pennsylvania at Hyndmann, Bedford county, closed its doors to-day. IOWA CITY, Aug. 17 -The Iowa City packing house was put in the hands of a receiver. The capital is $120,000 and the liabilities nominal. DUBUQUE, Ia., Aug. 17.-The First National Bank of this city suspended this morning. It was one of the oldest banks in the city and had a capital of $200,000. This is the first failure in Dubuque since the financial trouble began.


Article from The Wilmington Daily Republican, August 18, 1893

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A Huntingdon Bank Closes Its Doors. HUNTINGDON, Pa., Aug. 18.-The National Bank of South Pennsylvania, at Hyndman, Bedford county, closed its doors yesterday. The bank was operated by John K. and George B. White, who owned nearly all the stock. They also operated four large tanneries located at Hyndman, Dry Run and Mann's Choice, which were also forced to close down in consequence. The firm was largely interested in the Amazon Steamship company, plying between New York and South America, and they owned the majority of the stock in the Everett Electric Light and Water companies. It is thought that all of the depositors will be paid in full. By the shutting down of the steam tanneries over 200 men are thrown out of work.


Article from The Morning News, August 18, 1893

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Article Text

HUNTINGTON FAILURES. By Which a Number Are Thrown Out of Work. Huntington, Pa., Aug. 17.-The National Bank of South Pennsylvania, at Hyndmann, Bedford county, closed its doors today. The bank was operated by John K. and George B. White, who owned a majority of the stock. Besides this, they operated four large tanneries, located at Hyndmann, Dry Run and Manchester. OTHER CONSIDERABLE CONNECTIONS. The firm was largely interested in the Amazon Steamship Co., plying between New York and South America, and they owned the majority of the stock in the Everett Electric Light and Water Co. The firm experienced a run on the bank about two weeks ago, which is said to have precipitated the failure. The liabilities are estimated at $350.000, with assets at $450,000. By the shutting down of the tanneries over 200 are thrown out of work. THE STANDARD WAGON COMPANY FAILS. Cincinnati, Aug. 17.-The Standard Wagon Company. one of the largest concerns of the land in the west, made an assignment this morning to Grant Burroughs for the benefit of creditors. Assets $1,200,000, liabilities $700,000. Tight money market is given as the cause of the failure. OPERATIVES OFFER A LOAN TO EMPLOYERS. Louisville, Ky., Aug. 17.-A committee from the operatives of the Louisville and Nashville visited General Manager Metcalfe, yesterday, and reported to him the decision reached by the men. They refused to accept the ten per cent. cut ordered by the road. Instead they offer to lend the company a certain part of their wages for three months, without interest. After a long discussion the conference adjourned without an agreement having been reached. IOWA CITY PACKING HOUSE IN A RECEIVER'S HANDS. Iowa City, Iowa, Aug. 17.-The Iowa City Packing House yesterday was put in the hands of a receiver. The capital is $120,000 and the liabilities nominal.


Article from Waterbury Evening Democrat, August 18, 1893

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Article Text

Another National Bank Closes. HUNTINGDON, Pa., Aug. 18.-The National Bank of South Pennsylvania at Hyndmann, Bedford county, closed its doors. The bank was operated by John K. and George B. White, who owned forty-threefiftieths of the stock Besides this they operated four large tanneries, located at Hyndmann, Dry Run and Mann's Choice. which were also forced to close down in consequence The firm experienced a run on the bank about two weeks ago, which is said to have precipitated the failure. The liabilities are estimated at $350,000, with assets at $450,000.


Article from The Evening Herald, August 18, 1893

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Article Text

A Huntingdon Bank Closes Its Doors. HUNTINGDON, Pa., Aug. 18.-The National Bank of South Pennsylvania, at Hyndman, Bedford county, closed its doors yesterday. The bank was operated by John K. and George B. White, who owned nearly all the stock. They also operated four large tanneries located at Hyndman, Dry Run and Mann's Choice, which were also forced to close down in consequence. The firm was largely interested in the Amazon Steamship company, plying between New York and South America, and they owned the majority of the stock in the Everett Electric Lightand Water companies. It is thought that all of the depositors will be paid in full. By the shutting down of the steam tanneries over 200 men are thrown out of work.


Article from Richmond Dispatch, August 18, 1893

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Article Text

South Pennsylvania Failures. [By telegraph totthe Dispatch.] HUNTINGTON, Ps., August 17.-The National Bank of South Pennsylvania, at Hyndmann, Bedford county, closed its doors to-day. The bank was operated by John K. and George B. White, who owned 43-50 of the stock. Besides this they operated four large tanneries located at Hyndmann. Dry Run. and Mann's Choice, which were also forced to close down. The firm was largely interested in the Amazon Steamship Company, plying between New York and South America. and they owned a majority of the stock in the Everett Electric-Light and Water Company. The firm experienced a run on the bank about two weeks ago, which is said to have precipitated the failure. The liabilities are estimated at $350,000. with assets at $450,000. By the shutting down of the steam tanneries over 200 men are thrown out of employment.


Article from The Portland Daily Press, August 19, 1893

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Article Text

Various Business Troubles. Pittsburg, Pa., August 18.-The wholesale lumber firm of J.G. Johnson & Co. has assigned. Huntington, Pa., August 18.-The National bank of South Pennsylvar 11.at Hyndman, closed its doors yesterday. Liabilities $340,000: assets $450,000. Meadville, Pa.. August 18.-The Farmers' Co-operative bank of this city closed its doors yesterday. New York, August 18.-The receivers of the Northern Pacific railroad yesterday ordered reductions of from 10 to 25 per cent in the salaries of officials of the road. New York, August 18.-The firm of T. J. Davis & Co., wholesale dry goods dealers, Chicago and New York, assigned yesterday. Liabilities $200,000 and nominal assets much more.


Article from The Roanoke Times, August 19, 1893

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Article Text

A Huntingdon Bank Closes Its Doors. HUNTINGDON, Pa., Aug. 18.-The National Bank of South Pennsylvania, at Hyndman, Bedford county, closed its doors yesterday. The bank was operated by John K. and George B. White, who owned nearly all the stock. They also operated four large tanneries located at Hyndman, Dry Run and Mann's Choice, which were also forced to close down in consequence. The firm was largely interested in the Amazon Steamship company, plying between New York and South America, and they owned the majority of the stock in the Everett Electric Lightand Water companies. It is thought that all of the depositors will be paid in full. By the shutting down of the steam tanneries over 200 men are thrown out of work.


Article from The Worthington Advance, August 24, 1893

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Article Text

THE EAST. THE sheriff seized the works of the Gilbert Car Manufacturing company at Troy, N. Y., on judgments aggregating $150,000. JAMES REED, aged 14, Burgess Reed, 16 years old, and James Carner, aged 17, were killed by the explosion of a can of powder near Homewood, Pa, THE National bank of South Penn at Hyndman, Pa., and the Farmers' cooperative bank at Meadville, Pa., suspended business. OVER 5,000 unemployed men in New York smashed doors and windows and took forcible possession of a hall. IN Pit'sburgh the Oliver Iron & Steel company failed for $700,000; assets, $1,600,000. JOHN K. & G. B. WHITE, operating tanneries near Hyndman, Pa., failed for $300,000. THE failure was announced of Searle & Webster, shoe manufacturers at Haverhill, Mass., for $1,000,000. T. J. Davis & Co., wholesale dry goods dealers in New York, failed for $200,000. IN Altoona, Pa., the Pennsylvania railroad shops have been ordered to work half time. The shops employ 8,000 men. FLAMES destroyed the Grand opera house, city hall and 200 feet of the Pennsylvania railroad depot at Atlantic City, N. J., causing a loss of $100,000. IN New York Eppinger & Russell, lumber dealers, failed for $400,000. JOHN W. CASILEAR, .one of the best known and oldest of American landscape painters, died suddenly of apoplexy at Saratoga Springs, N. Y., Aged 82 years,


Article from The Iola Register, August 25, 1893

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THE EAST. Ex-PRESIDENT HARRISON has left Beverly, Mass., for Cape May, where he will remain until he goes to the G. A. R. encampment at Indianapolis. RECORDER SMYTHE, of New York, has sentenced Dr. Buchanan, the wife poisoner, to be electrocuted during the week beginning Monday, October 17. PAUL BOURGET, the French novelist, has arrived in New York. OVER 15,000 men have been given employment by the starting up of many iron mills in the Pittsburgh, Pa., district. MGR. SATOLLI celebrated pontifical mass in Archbishop Corrigan's cathedral. The occasion was made memorable by the presence of the archbishop, who affirmed his obedience to the pope through the ablegate. KEELER & JENNINGS' carriage factory at Rochester, N. Y., was damaged $100,000 by fire. It is thought the fire was of incendiary origin. THE sheriff of Albany county, N. Y., has taken possession of the Gilbert Car Manufacturing Co., at Green Island, on judgments aggregating $150,000. THE schooner Betty M. Listy, from Charleston, S. C., was detained at the Philadelphia quarantine station with three reported cases of yellow fever on board. MINERS employed by the W. L. Scott company in Youghiogheny valley, Pa., have accepted a reduction in wages of 5 cents a ton. THE Bruis photographic telescope, made by Alvin G. Clark, of Cambridge, after designs made by Prof. Edward C. Pickering, of Harvard university, was successfully tested on the grounds at Mr. Clark's workshop. THE great Oliver Iron & Steel Co., Pittsburgh, Pa., has gone into the hands of a receiver. THE national bank of South Pennsylvania, at Hindman, Bedford county, has closed its doors. THOUSANDS of unemployed foreigners of New York assembled on the streets and when they could not obtain a hall without money they broke into one. There was a collision with the police which, while it did not amount to a riot, caused grave fears to be entertained. THE New York unemployed held several more meetings on the 18th and listened to some fiery speeches from promounced anarchists. THAT currency is still scarce was evidenced in New York on the 18th when the premium again advanced to over 3 per cent. NEW YORK republicans are talking of nominating Joseph H. Choate, the distinguished lawyer, as a candidate for judge of the court of appeals.


Article from The Cape Girardeau Democrat, August 26, 1893

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THE EAST. JAMES REED, aged 14, Burgess Reed, 6 years old, and James Carner, aged 17, were killed by the explosion of a can of powder near Homewood, Pa. THE National bank of South Penn at Hyndman, Pa., and the Farmers' cooperative bank at Meadville, Pa., suspended business. OVER 5,000 unemployed men in New York smashed doors and windows and took forcible possession of a hall. Is Pittsburgh the Oliver Iron & Steel company failed for $700,000; assets, $1,600,000. JOHN. K. & G. B. WHITE, operating tanneries near Hyndman, Pa., failed for $300,000. THE failure was announced of Searle & Webster, shoe manufacturers at Haverhill, Mass., for $1,000,000. T. J. DAVIS & Co., wholesale dry goods dealers in New York, failed for $200,000. IN Altoona, Pa., the Pennsylvania railroad shops have been ordered to work half time. The shops employ 8,000 men. FLAMES destroyed the Grand opera house, city hall and 200 feet of the Pennsylvania railroad depot at Atlantic City, N. J., causing a loss of $100,000. IN New York Eppinger & Russell, lumber dealers, failed for $400,000. JOHN W. CASILEAR, one of the best known and oldest of American landscape painters, died suddenly of apoplexy at Saratoga Springs, N. Y., aged 82 years.


Article from Iowa County Democrat, September 1, 1893

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tion. Pennington's scheme for an electric road from Chicago to Indianapolis has lapsed. Great clouds of grasshoppers have been passing over Fort Dodge, Iowa, from north to south. Western lines bave agreed on oneway rates for Illinois day and other western state days at the fair. The steam launch Elida was sunk in Duluth harbor by the steamer Lucille and Lewis Winge was drowned. Through the carelessness of a physician, smallpox has become an epidemic at Muncie, Ind. In an interview at New York Dr. Carl Peters, the African Explorer, severely criticised Stanley's treatment of his men. The Bank of Albany, Mo., has suspended. Assets are $110,000 and liabilities $80,000. The California midwinter fair managers have accepted plans for four buildings to cost $360,000. August C. Krueger, twenty-six years old, of Chicago, butted his brains out in Eeast St. Louis. The American Bankers' association convention has been postponed indefinitely owing to the financial stress. It was to be held in Chicago Sept. 6-7. F. H. Weeks, the fugitive embezzler, has been located in Central America. The National German-American bank, of St. Paul, Minn, will resume business in two weeks. "Jeff" Hankins, the well known turf man and sporting man, died at his home in Chicago. John Hagan, an old blind soldier, at Shelbyville, Ind., was found dead in bed, with $1,200 in greenbacks tied around his arms, and on each side a revolver. Kansas republicans are alarmed at the activity of the populists, and a meeting of the state committe has been called. There was a terrific tempest in the region of Somerville, N. J., which cost five lives and caused great loss of pr perty. In a drunken row at Paducah, Ky., W. F. Woods killed his 19-year-old son by hitting him on the neck with a beer glass. Marion Manola Mason, the actress, was bitten while rescuing her daughter from a vicious dog on July 24, and it is feared that she has hydrophobia. A case of black drilling diamonds valued at $30,000 was lost by a New York drummer while riding from a St. Louis hotel to the depot. It is believed they were stolen. George C. Perkins, now representing California in the United States senate as successor to the late Senator Stanford, ran away from his native Maine when a boy, to serve before the mast on a small sailing ssel. He was after te Maine chance and struck it. The boiler of the Wellington roller mills at Lexington, Mo., exploded and instantly killed Engineer Richard JohnSCD and a boy named Frank Albin. The Dallas and Oak Cliff and the West Dallas street railway companies at Dallas, Texas, have been placed in the hands of a receiver. The application was made by the St. Louis Trust company. William Highfield, one of the white #aps who brutally whipped William Davis and his wife at Jasper, Ind., has been sentenced to two years imprisonment and to pay a fine of $10. Chase Fenner. the oldest member of the Louisiana supreme bench, will shortly resign the office to practice law. New York bankers are anxious as to the needs of their southern correspondents for money to move the cotton crop. The question of dividing Kansas and making the new state of Lincoln out of the western half of the state, is beIng agitated. The National Bank, of South Pennsylvania, at Hyndman, Bedford county, closed its doors. Liabilities $356,000; assets, $450,000. Searle & Webster, show manufacturers, of Haverhill, Mass., have as signed. Their liabilities are about .000 with assets far below these $1, figures. The burglar recently arrested in Missouri, who gave his name as Rev. T. J. Brown, of Waupun, is Frank Bender, an ex-convict of the state penitentiary. Private advices received in New York from London are to the effect that the Indian council has receded from its position against silver. B. Severson. a farmer residing in Canoe county, Ia., assaulted Patrick Roney, an old resident of the county, with a hammer yesterday and killed him. Severson is in jail.