18874. First National Bank (Muncy, PA)

View Charter #837 on SPMC

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
837
Charter Number
837
Start Date
January 11, 1892
Location
Muncy, Pennsylvania (41.206, -76.786)

Metadata

Model
gpt-5-mini
Short Digest
3fbc574f

Response Measures

Full suspension, Books examined

Other: Cashier arrested for alleged looting; receiver later appointed.

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1892-02-09
Date receivership terminated
1892-10-12
OCC cause of failure
Losses
Share of assets assessed as good
34.9%
Share of assets assessed as doubtful
59.7%
Share of assets assessed as worthless
5.4%

Description

Multiple contemporaneous articles report a run (Jan 11–12, 1892) after the vault couldn't be opened and missing cash/bonds were discovered; the bank was then closed by order of Bank Examiner Dengler (suspension) and a receiver (Emerson Collins) was appointed in February 1892. Cashier Dela (DeLa) Green was arrested and large shortages ($23k–$25k missing; total shortage reported ~$40k–$49k) were found. Classification: run preceded suspension which resulted in permanent closure/receivership.

Events (5)
1. February 23, 1865 Chartered
Source
historical_nic
2. January 11, 1892 Run
Cause
Bank Specific Adverse Info
Cause Details
Depositors ran after the vault could not be opened and it was discovered that large amounts of cash and bonds were missing (reports of $23,000–$25,000 missing and total shortages ~$40,000+).
Measures
None reported aside from subsequent suspension by bank examiner; cash paid out during run ($7,000–$8,000)
Newspaper Excerpt
Previous to the announcement of the suspension there was a run, during which between $7,000 and $8,000, all the money on hand, was paid out.
Source
newspapers
3. January 11, 1892 Suspension
Cause
Government Action
Cause Details
Closed by order of U.S. Bank Examiner Dengler after discovery of missing funds and inability to open vault; suspension posted 'until further notice.'
Newspaper Excerpt
The First National Bank of Muncy was closed by order of Bank Examiner Dengler today. ... the expert opened the vault, which was empty, and the examiner then closed the bank.
Source
newspapers
4. February 9, 1892 Receivership
Source
historical_nic
5. February 11, 1892 Receivership
Newspaper Excerpt
Emerson Collins, Esq. of this city, has been appointed receiver of the First National bank of Muncy.
Source
newspapers

Newspaper Articles (19)
1. January 12, 1892 The Morning News Savannah, GA
Article from The Morning News, January 12, 1892

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Article Text

A BANK VAULT LOOTED. A Run by the Depositors-The Cashier Under Arrest. WILLIAMSPORT, PA., Jan. 11. -The First National Bank of Muncy was closed by order of Bank Examiner Dengler today. Previous to the announcement of the suspension there was a run, during which between $7,000 and $8,000, all the money on hand, was paid out. Dela Green, the cashier and ex-bank examiner for this dis trict, was arrested between 10 and 11 o'clock to-night, as startling disclosures were made during the evening. When Examiner Dengler arrived Saturday he found that a portion of the vault combination could not be opened, and he sent to New York for an expert. The man arrived last night and worked five bours before getting the vault door open. MONEY AND BONDS GONE. It was then found that $23,000 in money and bonds were gone, Shortly after this the excited depositors started a run. Dela Green was arrested while in bed and was taken before United States Commissioner Bentley, who demanded bail in $20,000. During the night he will remain in the custody of a deputy marshal. Examiner Dengler said this evening that the affa r3 of the bank are in bad shape, and it looks as if the institution bad been looted. A shortage of at least $40,000 has already been discovered, and the full amount, it is expected, will be much greater. The president is Capt. John W. Bowman, who also acted as cashier during the time that Dela Green was bank examiner. At ridnight the investigation is still under way, and full particulars will not be known until morning.

2. January 12, 1892 Wheeling Register Wheeling, WV
Article from Wheeling Register, January 12, 1892

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Article Text

ITWAS AN EMPTY BANK The Startling Discovery of a U. S. Bank Examiner at WILLIAMSPORT, PENNSYLVANIA. Another Pennsylvania Financial Institution Looted and Its Cashier Under Arrest for Committing the Thefts-An Expert Works Five Hours on the Lock. PITTSBURG, PA., January 11.-A special to the Commercial-Gazette from Williamport, Pa., says the village of Muncy, this county, was treated to a surprise this afternoon when United States Bank Examiner E. W. Dengler posted a notice on the doors of the First National Bank, notifying the public that the institution had suspended. The Bank Examiner had arrived from Washington. last Saturday, doubtless, because the bank's statement was not satisfactory to the Comptroller of the Currency. On his arrival Examiner Dengler was unable to open the vault and sent for an expert. When this became known a run on the bank was started, but when the vault was opened it was found empty and the notice of suspension followed. The bank has not been doing a profitable business. and has suffered heavy losses on loans. There were $70,000 on deposit at the time of the last statement to the Controller of the Currency, but the shortage now is reported at $40,000. Capt. J. M. Bowman, is President. Many of the stockholders are wealthy men, and it is believed depositors will be paid in full. Dela Green, the cashier and ex-Bank Examiner for this district, was arrested between 10 and 11 o'clock to-night. as staraling disclosures were made during the evening. When Examiner Dengler arrived on Saturday and he found that a portion of the vault could not be opened he sent to New York for an expert. The man arrived last night and worked five hours before getting the vault door open. It was found that $23,000 in money and bonds was gone. Examiner Dongler said this evening that the afairs of the bank are in very bad shape and it looks as If the institution had been looted. A shortago of at least $40,000 has already been discovered, and the full amount it is expected will be much greater. At midnight the investigation is still under way and full particulars will not be known until morning.

3. January 12, 1892 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, January 12, 1892

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Article Text

A Pennsylvania Bank Wrecked. WILLIAMSPORT, Pa., Jan. 11.-The First National bank of Muney was closed to. day by order of Bank Examiner Dengler. Dela Green, the cashier, was arrested tonight. Startling disclosures were made during the evening. As the examiner was unable to open the vault, he sent to New York for an expert, who, after five hours work, succeeded in opening the doors. It was then found that $25,000 in money and bonds were gone. A total shortage of over $40,000 has already been discovered, with more of the investigation to hear from. WASHINGTON City, Jan. 11-A resolution for investigation into the causes leading to the failure of the Keystone and Spring Garden national banks was introduced in the House today and referred to the committee on rules. NEW YORK, Jan. 11-The liabilities of Jandorf & Bro., who assigned today, amount to $70,000; assets, unknown.

4. January 12, 1892 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, January 12, 1892

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Article Text

A BANK LOOTED. All the Cash Missing, but the Cashier Is Found. WILLIAMSPORT, Pa., Jan. 11.-The First National bank of Muncy was closed by order of Bank Examiner Dengler today. Previous to the announcement of the suspension, there was a run during which between $7,000 and $8,000, all the money on hand, was paid out. Dela Green, the cashier and ex-bank examiner for this district, was arrested tenight, as startling disclosures were made during the evening. When Examiner Engler arrived on Saturday he found that a portion of the vault could not be opened, and he sent to New York for an expert. The man arrived last night and worked five hours before getting the vault door open. It was then found that $23,000 in money and bonds were gone. Shortly after this the excited depositors started a run.

5. January 12, 1892 Evening Star Washington, DC
Article from Evening Star, January 12, 1892

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Article Text

Bank at Muncy, Pa., Closed. The First National Bank of Muncy, Pa., has been closed by order of Bank Examiner Dengler Prior to the announcement of the suspension there was a run, during which between $7,000 and $8,000, all the money on hand, was paid out. Dela Green, the cashier and ex-bank examiner for this district, was arrested between 10 and 11 o'elock last night, as startling disclosures were made during the evening. When Examiner Dengler arrived on Saturday he found that a portion of the vault could not be opened, and he sent to New York for an expert. The man arrived last night and worked five hours before getting the vault door open. It was then found that $23,000 in money and bonds was gone. Shortly after this the excited depositors started a run. Dela Green was arrested while in bed and was taken before United States Commissioner Bentley, who demanded bail in the sum of $20,000. During the night he will remain in the custody of the deputy marshal. Examiner Dengler said last evening that the affairs of the bank are in bad shape, and it looks as if the institution had been looted. A shortage of at least $40,000 has already been discovered, and the full amount, it is expected, will be much greater. The president is Capt. John M. Bowman, who also acted as cashier during the time that Dela Green was bank examiner. At midnight the investigation was still under way.

6. January 13, 1892 Grand Rapids Herald Grand Rapids, MI
Article from Grand Rapids Herald, January 13, 1892

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Article Text

A BANK CLOSED. All the Money Was Paid Out During the Run Preceding Suspension. WILLIAMSPORT, Pa, Jan. 12-The First national bank of Muncy was closed by order of Bank Examiner Dengler Monday. Previous to the announcement of the suspension there was a run, during which between $7,000 and $8,000, all the money on hand, was paid out Dela Green, the cashier and ex-bank examiner of this district, was arrested Monday night, as startling disclosures were made. On openIng the vault is was found that $20,000 in cash and bonds were gone, and a total shortage of $49,000 has been discovered. Green was held in default of $20,000 bail.

7. January 14, 1892 Grant County Herald Lancaster, WI
Article from Grant County Herald, January 14, 1892

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Article Text

A BANK CLOSED. All the Money Was Paid Out During the Run Preceding Suspension. WILLIAMSPORT, Pa., Jan. 13.-The First national bank of Muncy was closed by order of Bank Examiner Dengler Monday. Previous to the announcement of the suspension there was a run, during which between $7,000 and $8,000, all the money on hand, was paid out. Dela Green, the cashier and ex-bank examiner of this district, was arrested Monday night, as startling disclosures were made. On opening the vault it was found that $20,000 in cash and bonds were gone, and a total shortage of $40,000 has been discovered. Green was held in default of $20,000 bail.

8. January 14, 1892 Abilene Weekly Reflector Abilene, KS
Article from Abilene Weekly Reflector, January 14, 1892

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Article Text

THE VAULT WAS EMPTY. The First National Bank of Muney, Pa., In a Very Bad Condition. WILLIAMSPORT, Pa., Jan. 11.-The First National bank of Muncy was closed by order of Bank Examiner Dengler yesterday. Previous to the announcement of the suspension there was a run, during which between $7,000 and $8,000-all the money on hand-was paid out. Dela Green, the cashier and ex-bank examiner for this district was arrested between 10 and 11 o'clock last night, as startling disclosures were made during the evening. When Examiner Dengler arrived he found that a portion of the vault could not be opened and he sent to New York for an expert. The man worked five hours before getting the vault door open. It was then found that $23,000 in money and bonds were missing. Shortly after this the excited depositors started a r n. Green was arrested while in bed and was taken before United States Commissioner Bently, who demande 1 bail in the sum of $20,000. Examiner Dengler said that the affairs of the bank are in very bad shape and it looks as if the institution had been looted. A shortage of at least $40,000 has already been discovered and the full amount, it is expect d, will be much greater. Confirmations by the Senate. WASHINGTON, Jan. 12.-The senate in executive session has confirmed the following nominations among others: Court of private land claims, Joseph R. Reed, of Iowa; W. W. Murray, of Tennessee; H. C. Sluss, of Kansas, and W. F. Stone, of Colorado; United States district judges, W. W. Morrow, for the northern district of California; J. S. Woolson, for the southern district of Iowa; H. C. Niles, for the northern and southern district of Mississippi; E. W. Camp, for the district of North Dakota; M. A. Montgomery, for the northern district of Mississippi; Warren Truitt, of Oregon, for the district of Alaska. William McCoy, of Indiana, minister resident and CO sul-general to Liberia; William B. Hess, of Indiana, United States consul-general at Constantinople; D. S. K. Back, of Oregon, at Sonneborg; W. W. Harrigan, of Michigan, chief of the weather bureau, department of agriculture; Walter Wyman, of Missouri, supervising surgeon n the hospital survice.

9. January 15, 1892 The Columbian Bloomsburg, PA
Article from The Columbian, January 15, 1892

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Article Text

ANOTHER BANK FAILURE THE FIRST NATIONAL AT MUNCY SUSPENDS PAYMENT. WILLIAMSPORT, January II. The First National Bank of Muncy, this county, closed its doors this morning. The citizens of Muncy were thrown into a fever of excitement when a notice was posted on the bank saying it had suspended until further notice. This was signed by E H. Dengler, national bank examiner, who was sent from Washington on Saturday by the Comptroller of the Currency, doubtless because the bank's last statement was not satisfactory. On his arrival he went to the vault, but could not get it open, when he sent for an expert. When this became known there was a run on the bank The expert opened the vault, which was empty, and the examiner then closed the bank. The bank has not been doing a profitable business and has had heavy losses where it loaned money. There was $70,000 on deposit at the last statement and there is now a $40,000 shortage. Captain J. M. Bowman is president and James M. Bowman and Baker Landcake are directors Many of the stockholders are wealthy men and it is hoped that the depositors, many of whom are farmers, will be paid in full. Dela Green, the cashier and exBank Examiner for this district, was arrested between ten and eleven o'clock to-night, as startling disclosures were made during the evening. Dela Green, was arrested while in bed and was taken before United States Commissioner Bently. During the night he will remain in custody of the Deputy Marshal. Examiner Dangler said this evening that the affairs of the bank are in very bad shape, and it looks as if the institution had been looted. At midnight the investigation is still under way and full particulars will not be known until morning.

10. January 21, 1892 The Middleburgh Post Middleburg, PA
Article from The Middleburgh Post, January 21, 1892

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FIRES AND FAILURES. The Academy of St. Louis de Consaque, Montreal, Que., was burned to-day. The 300 children in the institution were rescued, the coolness of the nuns averting a panic. The Sibley block, Rochester, N, Y., com prising a number of stores, were burned. Loss, $150,000. Bloch & Schwerein, carriage makers. Philadelphia, have assigned. Liabilities, $75,000; assets about the same. Keener & Pike, grain dealers at Jacksonville, Ill., have assigned. abilities, $125,000; assets, $26,000. The York power block, on Center street, Cleveland, Ohio,, occupied by a number of manufacturing establishments, was destroyed by fire. Loss on building and contents estimated at $140,000. W. H. Chaffee & Co., cotton manufacturers, of New Orleans, La., have failed. The liabilities are $220,000 and assets $700,000. The old and well known banking house of J. J. Nicholson & Sons, Baltimore, Md., made an assignment. A.J. Nicholson died a snort time ago, and H. R. Nicholson is in 11 health. This is given asthe cause of the ailure. United States Bank Examiner F. H. Dengler posted a notice on the doors of the First National bank at Muncy, Pa. notifiying the public that it had suspended. The excitement was great. The bank examiner was sent from Washington last Saturday by the comptroller of currency, because the bank's statement was not satisfactory. On his arrival he tried to open the vault, but failed. Then he sent for an expert and after several hours of hard work the vault was opened. He found that it was empty. The main building of the State University of Missouri, at Columbia, was destroyed by fire Saturday night. The entire library, consisting of 40,000 volumes, was wholly destroyed. It was insured for $10,00. Loss on building, $400,000; insurance, $130,000.

11. January 23, 1892 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, January 23, 1892

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BUSTED WIDE OPEN. Bad State of Affairs Developed in Muncy Bank. WILLIAMSPORT, Pa., Jan. 22. - The directors of the First National bank of Muney met in the bank room today. They sent bills out to about fifty depositors announcing that they had over-drawn their accounts. The whole will amount to at least $3,000. The depositors, when asked if they had overdrawn their accounts. denied it. The clerks are still at work on the books of the bank. and when completed they will likely find a balance of $5,000. The directors will decide whether a receiver shall be appointed, or whether the present officials shalt settle up the affairs of the concern. Dela Green's hearing next Tuesday in this city will likelv bring out some £ startling disclosures.

12. January 23, 1892 Pittsburg Dispatch Pittsburgh, PA
Article from Pittsburg Dispatch, January 23, 1892

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THE MUNCY BANK MUDDLE. Many Depositors Deny They Had Overdrawn Their Accounts. WILLIAMSPORT, Jan. 22.-[Special.]The Directors of the defunct First National Bank of Muncy met in the offices there to-day. Their first move was to send statements out to about 50 depositors announcing that they had overdrawn their accounts for various sums, the whole amounting to about $3,000. The statements brought in a flood of depositors who denied that they had overdrawn their accounts, many of them claiming they had money on deposit there. This complicates affairs more than ever, and experts are again deep in the books, trying to find the trouble. The directors are to hold another meeting soon, when they will decide whether it is necessary to appoint a receiver. The hearing of exCashier De La Green here next week, promises some startling disclosures.

13. February 11, 1892 Evening Journal Wilmington, DE
Article from Evening Journal, February 11, 1892

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The Huncy Bank's Receiver. WILLIAMSPORT, Pa., Feb. 11.-Emerson Collins, Esq. of this city, has been appointed receiver of the First National bank of Muney.

14. February 11, 1892 The World Martinsburg, WV
Article from The World, February 11, 1892

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Receiver for the Muncy Bank. Williamsport, Pa., Feb. 11.-Emerson Collins, Esq., has been notified by Comptroller Lacey of his appointment as receiver of the First National bank of Muncy. Pa. Mr. Collins has not yet notified the comptroller of his acceptance, but will likely do so in good season. This appointment cannot fail to give very general satisfaction to every one interested.

15. February 11, 1892 The Wilmington Daily Republican Wilmington, DE
Article from The Wilmington Daily Republican, February 11, 1892

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Receiver for the Mancy Bank. WILLIAMSPORT, Pa., Feb. 11.-Emerson Collins, Esq., has been notified by Comptroller Lacey of his appointment as receiver of the First National bank of Muncy, Pa. Mr. Collins has not yet notified the comptroller of his acceptance, but will likely do EO in good season. This appointment cannot fail to give very general satisfaction to every one interested.

16. February 12, 1892 The World Martinsburg, WV
Article from The World, February 12, 1892

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Receiver for the Muncy Bank. WILLIAMSPORT, Pa., Feb. 11.-Emerson Collins, Esq., has been notified by Comptroller Lacey of his appointment as receiver of the First National bank of Muncy. Pa. Mr. Collins has not yet notified the comptroller of his acceptance, but will likely do so in good season. This appointment cannot fail to give very general satisfaction to every one interested.

17. February 18, 1892 Evening Star Washington, DC
Article from Evening Star, February 18, 1892

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RECEIVER APPOINTED.-The controller of the currency has appointed Emerson Colline of Williamsport receiver of the First National Bank of Muncy, Pa. -

18. February 19, 1892 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, February 19, 1892

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Receiver Appointed. WASHINGTON, Feb. 19.-The Comptroller of the Currency has appointed Emerson Collins, of Williamsport, receiver of the First National Bank, of Muncey, Pa.

19. January 7, 1893 The Irish Standard Minneapolis, Saint Paul, MN
Article from The Irish Standard, January 7, 1893

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GLANCE BACKWARD. Review of the Many Important Happenings of 1892. Heavy Business Failures, Startling Casualties and Horrible Crines-Industrial, Political and Sporting Events, Disastrous Fires of the Year, Etc. BUSINESS FAILURES. MORE DISASTROUS ONES NOTED-BANKS GENERALLY. Jan. 11-First national bank. of Muncie, Pa. Jan. 23-First national bank of Downs, Kan; $100,000. Jan 85-Bank of Jefferson at Shepherdstown, W. Va Jan. 29-Fall River county bank at Oelricks, S. D.; $30,000 Butler county bank at Chicora, Pa.; $60,000. Feb. 2-Commercial loan and savings bank at Kearney, Neb.: $150,000. Feb. 3-National bank of Silver City, and Feb. 4-Marcy, Geer & McCann's bank at Raton, N. M.; $800,000 First national bank of Deming, N. M. Feb. 6-Western Farm Mortgage Company at Denver; $1,000,000. Feb. 8 - Merchants' bank of Moorehead, Minn.: $175,000. Feb. 26-Newmarket (N. H.) savings bank suspended; $191.000. Mar 1-Lima (O.) national bank. Mar. 21-Painesville (O.) Savings and Loan Association bank. Mar. 24-American national bank of Birmingham, Ala. Apr. 15--Interstate national bank of New York. Apr. 27-Commercial bank of St. Paul, Minn.; $1,000,000. May 25-People's bank of Sea Isle City, N. J. June 4-Platte Valley bank at Central City, Neb. June 25-First national bank at Erie, Kan, Nesha county: losses, $30,000. Sep. 2--Nebraska State bank. at Crete. Sep. 23-Richmond (Me.) savings bank. Seu 21-People's bank at Hope, Ark Oct. 17-Two Nebraska state banks, one at Ainsworth, the other at Springview. Oct. 27-Hot Springs (Ark.) Valley bank (pri-, vate); $80,000. Nov. 5-Continental bankat Kansas City, Mo. Nov 30-Stone City bank, of Joliet, 111., and Jollet Enterprise Co. (barb wire manufacturers); $1,000,000. Dec. 6-Wholesale mercantile firm of Wilozinski & Nelson at Greenville, Miss.; $400,000. Dec. .11-Black Hills national bank at Rapid City, S. D. Dec. 13-Lipman & Co., jute merchants at Dundee, Scotland, failed for $1,250,000. Dec. 15-National bank of Newton, Kan. Dec. 18-Wholesale grocery in Brooklyn, N. Y.; $400,000.