18795. Union National Bank (Lewisburg, PA)

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 784
Charter Number: 784
Start Date: May 9, 1878
Location: Lewisburg, Pennsylvania (40.965, -76.884)

Metadata

Model: gpt-5-mini
Short Digest: f994d76f

Response Measures

None

Description

Multiple contemporaneous newspaper dispatches (May 9, 1878) report that the Union National Bank of Lewisburg suspended payment for the present and that depositors were expected to be paid in full. Earlier (Apr 27) the cashier H. P. Sheller acknowledged an accounting/treasury oversight but denied deficiency. Reports attribute the trouble to the cashier's neglect/mismanagement rather than a broad run or government seizure. There is no article reporting a depositor run or permanent closure; language in several pieces describes the suspension as temporary, so I classify as suspension_reopening.

Events (2)

1. February 7, 1865 Chartered

Source: historical_nic

2. May 9, 1878 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Accounting/treasury oversight and mismanagement by the cashier (cash short in the U.S. Treasury); reports attribute suspension to cashier's neglect rather than insolvency or broader panic.
Newspaper Excerpt: LEWISBURG, PA., May 9.- - The Union National Bank has suspended for the present. No particulars made public as yet, but it is thought that depositors will be paid in full.
Source: newspapers

Newspaper Articles (13)

1. April 28, 1878 The New York Herald New York, NY

Article from The New York Herald, April 28, 1878

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informed the HERTLD correspondent to-day that they were prepared for run from now until next autumn. DEPOSITORS THE GREATEST LOSERS. He reports that they had an abundance of cash that they could not invest to advantage, and that they would save thousands of dollars in interest by the present excitement and withdrawal of deposits. Some of the other savings institutions, while they may be equally sound, are not prepared with a large surplus to stand 80 long extended drain on their treasury. The Union Savings Bank to-day decided 10 require the charter notice of intention to withdraw. The Rhode Island Institution has for some days been requiring notice from large depositors. SIMPLY A WANT OF CONFIDENCE. The lears expressed by those who are best able to judge of such matters, that the large withdrawals of money by persons unaccustomed to its care will subject them to the attacks of thieves and sharpers. and they will learn that it had been better to leave their money on deposit in banks. The trouble appears to be there is nort of a panic which seems to affect the whole city, and beyond the lew who understand the principle upon which these institutions are conducted and the care exercised in investing deposits, there IS a widespread want of confidence. The last annual statement of our Bank Commissioner published shows that our savings institutioos generally have been well managed, upon sound principles, and are 12 a healthy, solvent condition, many of them with a large surplus. Performing their usual functions, undisturbed by panic among depositors, they would pay a fair rate of interest. Somi-annually they disburse such sums upon call as are usual to such institutions and pay every depositor in full, principal and interest. With very few exceptions this is the status of every savings bank in the State. But the troubles in Fall River and the general sbaking of confidence caused by the defalcations there have created a panicky feeling that may prove disastrous. The banks have not yet made out their statements, but when they come it is expected that they will be satisfactory. Real estate has depreciated so rapidly that of course the banks which hold mortcages will suffer If compelled to sell. but the bank officers express themselves as fully able to pay dollar for dollar if given proper time. LARGE NUMBER OF FAILURES IN OHIO-NOMINAL ASSETS. CINCINNATI, April 27, 1878. The following petitions in bankruptcy have been filed:B. P: Hinman, broker, Cincinnati. Liabilities, $709,000; assets, $358. Nearly all the creditors reside in Cincinnati and Chicago, though $10,000 are held by the estate of W. P. Biodgett, New York, and $10,000 by R. F. Willis, Boston. James Ballard, merchant, Athens, Ohio, failed this morning. Liabilities, $60,000; assets not stated. William Clark, Martins' Ferry, Ohio. Liabilities, $137,000; assets, $28,000. Henry Wagner, Bond Hill, Ohio. Liabilities, $15,000; assets, $2,000. Samuel Gourtee, Cincinnati. Liabilities, $36,000; assets nominal. Benjamin Bruce, Cincinnati. Liabilities, $44,000; assets, $38,000. Frank Baird, Logan, Obio. Liabilities, $19,000; assets, $10,000. William Owen & Co., jewellers, Cincinnati. Liabilities, $19,000; assets, $18,000. Simen B. Elliot. Wyoming, Ohio. Liabilities, $24,000; assets. $3,300. C. G. Barkwell, Cleveland, Ohio. pork dealer, failed to day. HIS liabilities amount to $80,000 and his as. sets to $14,000. THE MATTHEWS BANKRUPTCY IN BOSTON. BOSTON, April 27, 1878. The creditors of Nathan Matthows, who in 1870 was worth from $6,000,000 to $7,000,000. have petitioned him into bankruptcy. Mr. Matthews has been an extensive operator in real estate, and bis failure is principally due to the enormous shrinkage in that class of property during the last few years. Judge Lowell has dismissed the petition, with the consent of the creditors, finding that Nathan Matthews had not committed an act of bankruptcy. FAILURE AT CYNTHIANA, KY. NASHVILLE, Tenn., April 27, 1878. B. C. Wherritt, Cynthiana, Ky. Liabilities, $31,000; assets, 25,000. BANKRUPTCY IN MICHIGAN. DETROIT, April 27, 1878. Joseph S. Tuttle, lumber and leather dealer, of Niles, Mich., filed a voluntary petitition of bank. ruptcy to-day. His liabilities amount to $66,000 and assets to $55,000. His secured liabilities are $31,000. VOLUNTARY BANKRUPTCY IN NEW ORLEANS. NEW ORLEANS, La., April 27, 1878. W. B. Krumbhaar & Co., proprieters of the Penn and Kentucky cotton presses, filed a voluntary peunion in bankruptcy to-day. THE UNION BANK OF LEWISBURG, PA., RECEIVES A BENT FROM THE TREASURY DEPARTMENT-THE CASHIER'S STATEMENT. PHILADELPHIA, April 27, 1878. The following telegram was received at the office of the Associated Press here this afternoon:LEWISBURG, Pa., April 27, 1878. Will have our account made good in United States Treasury by Tuesday next. The trouble was caused by my neglect not by any deficiency at the bank. H. P. SHELLER, Cashier Union National Bank. HARRISBURG, Pa., April 27, 1878. No uneasiness is felt in regard to the safety of the Union Bank of Lewisburg. The trouble arose through an oversight of the cashier in allowing the funds to become short in the Treasury Department at Washington. CASHIER BAINE OF THE SALEM (IND.) NATIONAL BANK ROBS THE BANK TO SPECULATE IN STOCKS-HE RUNS AWAY LEAVING 4 LARGE DEFICIENCY IN HIS ACCOUNTS. INDIANAPOLIS, Ind., April 27, 1878. James Baine, cashier of the Salem National Bank, is missing. The following note to his father-in-law was found in the bank this morning:Mr. LYONS-I am financially disgraced and ruined. Wall street did it. know not, and no oue cares, whither go. God save my wife and child. JAMES BAINE. He had a fortune of his own and is supposed to have been speculating is Wall street. It remains to be as. certained If the bank's money- bas been used, On opening the safe some $200,000 in money and bonds were found. The absconding cashier Baine abandoned his horse, turning him loose about ten miles west of Salem, and afterward obtained seat in passing wagon. When last hoard from he was at Prospect, some thirty miles west, and from lifteen to twenty miles away from the rail-oad and telegraph. William C. Winslangley, President of the Bedford Bank. IS conducting an examination of the Salem Bank's condition. He is unwilling to give any intormation until the examination is completed. A stockholder gives the information, however, that a deficiency of $30,000 has already been discovered. and that a reward is to be offered for Baine's eapture. Au impression prevails on the street that Baine's bond will probably cover his defalcation. BUSINESS TROUBI IN NEW YORK-PETITIONS AND PROCEEDINGS IN BANKRUPTCY-ASSIGNMENTS. Sylvester Murphy, builder, at No. 332 East Fiftysecond street, has filed a voluntary petition in bankruptcy before Register Dwight. His embarrassmentss due to the depreciation in real estate, and a large part of his indebtedness is for mortgage deficiency. The

2. April 29, 1878 The Morning Herald Wilmington, DE

Article from The Morning Herald, April 29, 1878

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DISTURBANCES IN SERVIA. LONDON, April 28.-A - special despatch from Belgrade says -Disturbances have broken out at Nish: and Pirot between the inhabitants and the Servian authorities in consequence of the Russiad summons for recruits. A famine is raging at Vranja, caused by military requisitions." SUMMARY OF NEWS. A famine is raging at Vranja. The Anglo-American trade is increasing. Hundreds of Russians die daily at Adria, mople. Germany regards England's position with gravity. Disturbances have broken out in Nisch and Pirot The Union National Bank of Lewisburg, Pa., is in trouble. The influx of visitors to the Paris show is increasing greatly. The strike of the cotton operatives at Preston is not yet ended. There was 2 heavy run Saturday on the Providence, R.I., savings banks. The Australian Cricket Team have arrived at San Francisco en route for England. The opinion prevails in Washington circles that Congress will adjourn finally June 10. The Teutonic Savings Bank, of Albany, N. Y., is totally insolvent. The Staten Island bonds are valuelees. The negotiations for a restoration of relations between the Vattean and Swiss government have almost failed. August Grieler killed his wife at Liberty, N.Y., on Saturday, and then cut his throat. Both parties were very aged. The National Socialist lunatics of Chicago deny that they are under military drill, or that they have purchased arms. James Baine, the cashier of the Salem, Ind., National Bank, is missing. He left a letter admitting his financial disgrace: John Milligan and Miss Pauline Fou Saulsbun are walking for a stake of $100, at Paterson, N. J. They are to continue for thirty-six hours.

3. May 4, 1878 Middletown Transcript Middletown, DE

Article from Middletown Transcript, May 4, 1878

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GENERAL NEWS. The National Greenbackers of Maine will hold a State Convention at Lewiston on the 5th of June. William Evarts, son of the Secretary of State, died at his father's residence, in Washington, Friday morning, aged 27 years. A revival season of five weeks has just been closed by Messrs. Pentecost and Stebbins, at Middletown, Conn. The meetings were crowded from the commencement, and 400 persons professed conversion. The Treasury Department rejects the notes of the Union National Bank of Lewisburg, Pa., when presented for redemption, the bank having failed to keep good its redemption fund, as required by law. A mail train on the Richmond and Danville Railroad, in Virginia, was run into while stopping to cool a hot box, by a freight train. before daylight Friday of last week. Several cars were wrecked, and five passengers injured, one of them, B. F. Gravelly, manufacturer of the Gravelly brand of chewing tobacco, fatally. The total coinage of the United States Mints during April was $6,143,920. The gold coinage was $184,784. Of standard silver dollars 2,470,000 were turned out.-A horrible murder was perpetrated in Kansas City, Mo., about 2 A. M. on Tuesday. Neighbors were aroused by pistol shots and flames issuing from the house of Theodore Haltenback, and when the fire was extinguished Mrs. Haltenback was found on the b ed with her head crushed in and her limbs burned to a crisp, Mr. Haltenback in the kitchen with a bullet hole in his head and the back of bis skull crushed in with an axe, and their little girl, eight years old, lying out of doors insensible and at the point of death. The murderer is unknown.

4. May 9, 1878 Evening Star Washington, DC

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A Suspended National Bank. LEWISBURG, PA., May9.- - The Union Nation al Bank has suspended for the present. No particulars made public as yet, but it is thought that depositors will be paid in full.

5. May 9, 1878 Daily Press and Dakotaian Yankton, SD

Article from Daily Press and Dakotaian, May 9, 1878

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TELECRAPHIC BREVITIES. Atlanta, May 9.-J. & S. Bones, of Rome. hardware merchant=, have failed. Liabili. ties, $175,000. Lewisburg, Pa., May 9.-The Union Na. tional bank has suspended. It is though 1

6. May 9, 1878 Alexandria Gazette Alexandria, VA

Article from Alexandria Gazette, May 9, 1878

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to as gation they would only be used to further the evil designs of these unworthy men. Officer Kerney, of the Prospect Park Police, Brooklyn, found the dead body of a man at the Third street entrance to the park yesterday.When found the body was still warm. Grasped in the right hand of the dead man was a revolver, one barrel of which was empty. A stream of blood trickled down the neok from a bullet hole under the left year. In the pocket were found 67 cents, a package of cigarettes, and a copy of a morning newspaper of yesterday's date. Oa the margin of the paper were writ ten the words know I have to die, and I shoot myself. At the Pennsylvania Convention of the National party in session yesterday in Philadelphia, the Committee on Resolutions reported a platform proposing that no canndidate that has any affiliation with the old parties should be re cognized. This was adopted, and a tumultuous scene ensued, forty delegates being on the floor at the same time accusing various candidates for Governor with party proclivities. Samuel R. Mason was nominated for Governor, Christopher Shearer for Lientenant Governor, and Jas. L. Wright for Secretary of Internal Affairs. Peter Cooper started from New York yesterday for Spartanburg, N. C., to visit his farm. Oa his arrival he will attend to the sowing of jute and ramee, which he believes are yet to be immense staples of industry in this country.Mr. Cooper will spend a day at Washington enroute. Mr. Cooper has been sued by Wallace P. Groom, the proprietor of a commercial exchange paper in New York, for $50,000 damages for slander. The Suprome Court of the United States will on Monday next adjourn for the term, and shortly thereafter the justices will proceed to their respective circuits to perform duty on the bench of the Circuit Courts. A considerable number of decisions are expected to be an. nounced on Monday next. Amanda Roseton, a colored girl, employed as a nurse in a colored family near Madison, North Carolina, whipped a child in her charge, and as it threatened to tell, the seized it by the throat, and giving it a sudden wrench broke its neck, causing instant death. The murderess 19 in custody. Alter Y. Shindel; of Danville, Pa., and W. C. Kohler, of Hanover, Pa., both students of the Gettysburg Theological Seminary, were accidentally drowned yesterday by the upsetting of a boat in Spring Lake. Count E. Alexijeff, one of the Cimbria's officers, arrived in New York yesterday morning, and will soon leave for Washington. He ranks high in the Russian navy. Some of his brother officers of the Cimbria are expected in the same city. Advices from Texas say a band of train robbers that has for several months been plundering the Houston and Texas Central and Pacific Railroad has been broken up and a number of the gang arrested. Henry Mattison, of La Ruscounty, Ohio, who is supposed to be on his death bed, has given bis estate to the Government, saying that he made it since the war by making moonshine whiskey, and defrauding the United States to the amount of $12,000. It is rumored that the Evans' Rifle Company, of Mechanics's Falls, Maine, is filling large orders for the Russians on board the steamer Cimbria. The Lake Shore Railroad has paid $5,400 each for 83 of the persons killed by the accident at Ashtabula. Hon. Stanley Matthews states that be is not a candidate for Congress in the Second Ohio district. The Union National Bank of Lawisburg, Pd., has suspended.

7. May 10, 1878 The Wheeling Daily Register Wheeling, WV

Article from The Wheeling Daily Register, May 10, 1878

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Bank SuspensionLEWISBURG, PA, May 9.-The Union National bank suspended to-day. It is thought the depositors will be paid in tull.

8. May 10, 1878 The Morning Herald Wilmington, DE

Article from The Morning Herald, May 10, 1878

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SUMMARY OF NEWS. Frederick Bartzel was killed in a Pottsville coal mine yesterday. He leaves a large family. Robert McCormick was killed in Rudolph & Son's paper mills, West Manayunk, by the falling of a heavy engine, which was being hoisted. The Permanent Exhibition will be formerly opened to-day. Addresses will be made by Senators Blair, Bayard and Wallace. The Union National Bank, Lewisburg, Pa , suspended payment yesterday. The bullion in the Bank of England, has increased £227,000 during the past week. War preparation still continue brisk in England. It is rumored that the Evans Rifle Company, of Mechanics' Falls, is filling large orders for the Russians on the steamer Cimbria. A two thousand ton blast was made at the granite quarry at Quincy, Mass., last Saturday. Danbury News:-" General McClellan ac. cumulates much pottery. He has not lost his penchant for earth works." Solid colored stockings, clocked on the sides, and are worn by little girls and misses, in colors to match their dresses. A New England paper remarks that "Mr. Welsh does not make so much noise in London as Mr. Pierrepont did, but he tends up to business as a man with his record might be expected to do." The most fashionable bonnets are of gray, ecru, and mastic or beige-colored chip, with diadem fronts faced with black or dark velvet, edged with gold or rainbow tinsel braid, and have no face trimmings,

9. May 10, 1878 Daily Kennebec Journal Augusta, ME

Article from Daily Kennebec Journal, May 10, 1878

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CONDENSED TELEGRAMS. Gen. Grant, wife and son arrived in Paris yesterday. The Union National bank of Lewisburg, Pa., has suspended.

10. May 10, 1878 New-York Tribune New York, NY

Article from New-York Tribune, May 10, 1878

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SUSPENSION OF A NATIONAL BANK. LEWISBURG, Penn., May 9.-The Union National Bank has suspended, but no particulars concerning the condition of the institution, has been made public as yet. It is thought that the depositors will be paid in tu!!.

11. May 15, 1878 Juniata Sentinel and Republican Mifflintown, PA

Article from Juniata Sentinel and Republican, May 15, 1878

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There are about 700 attendants at at the Millersville Normal School. The Catholic Temperance Union of Pennsylvania will bold its annual con vention in Erie early next month. A "Fur Fin and Feather Club" has been organized by Titusville sportmen. John Ehs, of Pottstown, while re turning home from East Nantmeal township Chester county, on Thursday fell in with au agreeable stranger who chloroformed and then robbed bim of $18. 50. A mine wagon containing eight men jumped the track while descending IDto the slope of the Gate Veia colliery, near Pottsville on Thursday evening and was thrown to the bottom. Fred erick Borizel, of Yorkville, was horribiy mangled and instantly killed and George Schodi, of Pottsville, seriously injured. The remaining SIX men escaped with slight bruises. Six beastly intexicated persons, five men and = W man, were hauled to jul in a enal cart at Franklin Venango county. last Friday, all 80 unconscious that they were literally dumped en the sidewalk and carried to their cells like logs of word. Two ministers of the gospel each had a horse stolen last week, while conducting a quarterly meeting on the borders of Pennsylvania. near Hancock, Md. Extensive preparations are being made " Gettysburg to observe Decor ation Day. The oration will be delivered "y Gen Bonjamin F. Buder, whose subject will be "The Private Soldier TO the War of the Rebellion." Presitent Hayes and Postinaster General Key have accepted invitations to be present. Alter Y. Shindel, of Danvill, Pa., wb W. C. Kohler, f Hanover, both students of the Theological Seminary it Gettysburg, were accidentally frowned on the 7th by the usetting of heir beat on Spring Lake. They were graduates of the Pennsylvania College and members of the class of 1877. Miss Emma Cramer, of Monroe couny, went to a spring for a pail of water. vuen she was suddenly seized with paralysis and fell into the watter. When discovered she was lifeless, no be being by to reseue her from drownmg. Extensive preparations are being made at Gettysburg, Pa., to observe Decoration day. The oration will be telivered by General Benjamin F Builer, whose subject will be "The rivate soldier to the war of the rebel lisn." President Hayes and Postmaster General Kev have accepted Invitations and will be present. The suspension of Union National Bank of Lewisburg is believed to be only temporary, and results from the mismanagement of the cashier. Depositors will, be fully paid as the as sets are largely in excess of the liabil ities. Examiner Young is now in charge of the bank, and a statement will be made in a few days. Last Thursday a week David M'Creary, Shippensburg, went to bed in the National Hotel, Chambersburg, and instead of turning off blew out the gas jet. The oder was not discovered until 7 o'clock the next morning, and when an entrance was made to the room by a window, M Creary was found unconcious on the bed. Medical aid restored him, but he will never fully recover from the effects of that blow. Altoona is to have a new Presbyterian Church, at a cost of $20,000. A TWID daughter of Rev Baker's, of Sultsburg, Indiana county. aged about thirteen, was burned to death Thurslav night last, by # lamp down stairs, followed by an older sister, when she fell, the lamp breaking, the oil taking tire, burning all the clothing from her person, causing her death almost in stantly NEW YORK, May 3-A Japanese correspondent of the Post, writing from Tokio under date of April 5, sends the following The famine In the north of China rages with increasing severityand the most dreadful reports come from the afflicted regions. In one town a man opened a shop for the sale of human flesh, and did a good busi ness in cannibalistic joints and roasts, fill the local mandarin interfered with this rather novel and utterly horrible experiment in living by causing the shopkeeper to be arrested and behead-

12. May 16, 1878 The Post Middleburg, PA

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Cool weather. Hail storm last week. Sling out your specie. John Morrissey died poor. On the increase-Candidates. "Jim," how about those slabs ? Are we to have a dull summer? Sweet scented,-our "devils" boquet. The linen duster can now be looked fter. The early planted corn is showing tself. White hats have made their appearince, And still they come,-the potato bugs. The Pope is ill with inflamation of heliver. If you can't afford to take a ride, lake a walk. The all absorbing topic-the temperance movement. Not dead yet-the Murphy movement in this place. The chirp of the "chick" is heard through the land. Strawberries and cream will soon be The order of the day. The Union National Bank of Lewisburg has suspended. A little vinegar will destroy the onion mell on one's breath. Amusing-to see how the candidates love the dear people. It looks as if cherries and apples ill be plentiful this year. The days are growing longer, and he evenings are getting shorter. It is not true theat tramps have been egal medium. The Anti-discrimination bill was deented in the legislature on Friday ast. A tax on profane language would ripe out the national debt in six nonths. A division of the workl's wealth would live each person about twenty eight dollars. The birds are numerous, and their evening and morning concerts are deghtful. Very few farmers are visiting town now. Their spring work is keeping them at home. The blithe potato bug will soon staion himself on the fence rail to watch or farvorable foraging. Courtship is defined by one who prelends to know, as skirmish before the regular battle begins." On the night of the 12th inst., asetere frostdestroyed nearly all the early regetables in this vicinity. If money could be borrowed as easily trouble, how round-shouldered ome men would soon become. The croquet fever has struck some of our young folks who stand out in the un and wind tapping balls with a mallet. The Republican State Convention met yesterday, the 15th. We will next week publish the proceedings, and the platform. Prof. Daniel Drew Domer, editor of the Shamokin "Times," is leader of a "snoot band." So says the "National Greenback," As a general rule, the fellows who prate most about the rights of labor are the last who care to do an honest day's work. Senator Don Cameron and Miss Sherman, daughter of Judge Sherman of Ohio were "successfully" married on the 9th inst. The Supreme Court have ruled that uicide, committed while the insured sinsane, does not vitiate a life insurInce Policy. Sound. "Died while reading a newspaper," ays a recent paragraph. On investis gation it was found that he had bortowed the paper from a neighbor. A general suspension in all the ore mines throughout this County has been ordered. No length of time is given and we hope work will soon be resumRd. Nearly three hundred boys, who have arrived at the age of sixteen during the present year will be discharged from the soldiers orphan schools of the state. A great mistake is made by those persons who seek to wipe out the black pots of their own reputation by enleavoring to sully that of their neigh-

13. May 17, 1878 The Columbian Bloomsburg, PA

Article from The Columbian, May 17, 1878

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The Union National Bank of Lewisburg has suspended for the present. No particulars are made public, but it is thought the depositors will be paid in full.