First National Bank - Masontown, PA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 5441
Charter Number: 5441
Start Date: March 1, 1932*
Location: Masontown, Pennsylvania (39.847, -79.900)

Metadata

Model: gpt-5-mini
Short Digest: 9760e60f

Response Measures

None

Receivership Details

Depositor recovery rate: 27.0%
Date receivership started: 1931-04-18
OCC cause of failure: Economic conditions
Share of assets assessed as good: 16.0%
Share of assets assessed as doubtful: 78.1%
Share of assets assessed as worthless: 5.9%

Description

OCR'd legal notices indicate properties were 'taken in execution' at suit of Jesse Scott, Receiver, First National Bank of Masontown (March 1932). No mention of a depositor run in the provided text; the bank clearly has a receiver and assets are being sold — indicates suspension and permanent closure/receivership. OCR is noisy; corrected 'Mank'->'Bank' and 'Masontown' retained from text.

Events (3)

1. June 19, 1900 Chartered

Source: historical_nic

2. April 18, 1931 Receivership

Source: historical_nic

3. March 1, 1932* Receivership

Newspaper Excerpt: taken in execution the property of ... at the suit of Jesse Scott, Receiver First National Bank of Masontown, Pennsy
Source: newspapers

Newspaper Articles (1)

1. May 13, 1932 The Morning Herald Uniontown, PA

Article from The Morning Herald, May 13, 1932

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Article Text

SALES (Continued from Page Sixteen) the streets and alleys set forth in Plan. and however, the lot the which from the bond upon the mentioned dated November Recorded aforereference of herewith taken execution the and property of the R. Scott, Receiver Lardin, First National Bank of sontown, SHELBY, MACENEY & RAY, Attorneys 89 March Term, 1932, First National Bank of PennMarch 1932. Term, title, Interest, claim and demand of the defendants in and parcel or lot ALL that certain piece, land German Fayette boundand described follows: Beginning at point South 86 degrees East (30) from an along of the Public leading from South said pin being 45 minutes thirty from the South and nine (39) footing running South 65 minutes North degrees minutes 4-10 (95.4) to point; thence North degrees feet minone hundred (100) minutes East ninety (95.4) the place beginning containing 9540 square feet. EXCEPTING AND RESERVING therefrom by of recorded in dated the Fayette in Deed Book doth fully page subject right appear. and line the land the and the Eden born Road and subject whatrights, or easements were granted and still exist Pollock agreement recorded Office Fayette County in Agreement Book 88, Heing the same land conveyed to P. herein, deed Searight Marshall and bearing date April and Recurder's Office eite County Deed Book 187, 10. and taken in execution the property of the Fitzpatrick, at the suit of Jesse Scott, Receiver First National Bank of Masontown, Pennsy Attorneys No. March First National Mank Pennsur judgment at No. March ALL vight, interest, claim and demand OF the defendant in and to: that certain place or parcel of Township, County of Fayette and State Pennbounded and described follows, BEGINNING at near run on the west side leading Masontown Riverview (50) feet west; thence north one hundred (100) feel; thence feet; thence south one hundred (100) the place thousand square thereon frame dwalling AND RESERVING therefrom all the Pittsburgh seam of coal, with all the minors BEING the shme premises granted mortgagor herein, deed of Poter Administrator the Estate being dated 31, the Office the oorder of County, In Deed Book Vol. page and taken in execution property of the taron, the Bank of Masontown, Attorneys March Term, National Mon, for Boott. Receiver of the Pirst National Bank Harry No. 597 March and demand of the defendants in ALL those four certain tracts or parcels Jand elluate In German said Johnson, N. 18% Township County, formerly known Lots grees the Carl perches post; Plan perches stake in the and Earl grees run; thence Areford, plat whereof recorded perches post the Office Fayette Counthence 31 in Plan Book lands lots being more bounded merly Urinh described follows: degrees 185 facing on post; more Street feet, running thence degrees along in direction thence degrees perches; 18 foot alley on rear lands formerly thence said alley Moses feet Lot No. 186; South thence perches along line between Lot No. 186 post: thence feet to lands or of Resin Street place with lot Frost, degrees 31.4 perches No. 186 adjoining post; the thence 36 degrees alley adjoining on degrees SECOND: Lot No. 166 facing on perches to thence Gilmore post; thence Street running 112.04 foot to post: even width thence 185 the and lands THIRD: 187 facing perches post: thence more Street feet: running back lands formerly of Fogles, width feet rear of With No. 186 degrees 39.6 perches on Joining Southeast place 188 the the facing underlaid nine foot Gilmore Street coal, by even width 112.04 feet to which and 187 adjoining on the and of has foot are small Upon partially construct scribed "First" shaft the foot respectively there erected tipples workings the seam and RESERVING Waynesburg and all the the nine vein veins and largely land, by together with such mining rights mature and located the river privileges previously sold and proximity and highway leading thererecord BEING the same lots land con- from public which Feldstein George Rentta ented siding and Stella wife, branch of the 20th February 1926 recorded and the Recorder's Office Fayette The same tract of land to County, Deed Book 130, page Hugh dated April Heized and taken in execution as the property Harry Cooper, Harry the suit of National for of the National Bank, Masontown ALBERT REED MATTHEWS Attorneys No. 92 March Term, B. D. Phillips and tember Term, 1930. the right, title, interest, claim of the defendant, Sarah and ALL described tot ground, situate Fayette County, and State of Pennsylvania. being lot Numbered "Hiller in Book page 21, the office recording deeds lot being further and as Beginning point on the North Street, eighty (80) West the said Third Street Knox Northerly No. 307, one twenty (120) the thenos Westwardly direction along South side Spruce forty (40) tion along Mast No. 300, hundred twenty feet to the side Third Street thence In direction along the side Third corner No. 207 beginning dwolling house outbuildings Excepting and reserving the oil thereunder and tenant rights together certain rights privileges under certain conditions more length of Hiller pany, March recorded Deed Book page wherehy land was Miller, the defendants Upon which erected seven runm dwelling bath, and one frame Selzed and taken execution the property Miller, one defendants, sult of Margaret A. Phillips, No. 93 March Term, Union Company Moover, person, now Harriet B. Ross, John ROSS and DonAllas Pierl Pacias sur judgment No. June First title, all that and certain tract on waters Middle Run in German Township, County, bounded and BEGINNING at post in the line of Johnson, and running thence by land now