Farmers National Bank - Pennsburg, PA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 2334
Charter Number: 2334
Start Date: February 6, 1878
Location: Pennsburg, Pennsylvania (40.391, -75.492)

Metadata

Model: gpt-5-mini
Short Digest: ea146368

Response Measures

None

Description

Article (Juniata Sentinel and Republican, 1878-02-06) states the Controller of Currency notified Farmers' National Bank of Pennsburg to voluntarily liquidate within 60 days or a receiver will be appointed. No run or depositor disturbances are mentioned. The action is regulatory (government examiner) and implies permanent winding up unless corrective action taken.

Events (2)

1. May 31, 1876 Chartered

Source: historical_nic

2. February 6, 1878 Suspension

Cause: Government Action
Cause Details: Controller of Currency notified the bank to voluntarily liquidate within 60 days for failure to comply with banking laws; threat to appoint a receiver if not complied with.
Newspaper Excerpt: The Farmers' National Bank of Pennsburg, not having strictly complied with the banking laws, has received notice from the Controller of Currency that unless it voluntarily goes into liquidation within sixty days, he will appoint a receiver to wind up its affairs.
Source: newspapers

Newspaper Articles (1)

1. February 6, 1878 Juniata Sentinel and Republican Mifflintown, PA

Article from Juniata Sentinel and Republican, February 6, 1878

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Article Text

NEWS ITEMS. Sitting Bull is whetting his tomahawk. It is proposed to revive licensed gambling in New Orleans. The Merchants' National Bank, of Fort Scott, Kansas, closed its doors January 30th. In the south the people are now using one cent pieces and threes and fives very extensively. A Maryland peach grower has shipped twenty barrels of peach kernels to Dayton Ohio, to be used for "chemical purposes. A million and a half pounds of grapes were produced in New Jersey last fall of which two hundred thousand were converted into wine. The body of Mrs. Sarah Meservey was found murdered in her house at St. George, Me., on Tuesday. The object of the murder was money. About three hundred thousand forest and shade trees were planted in Los Angles, California, last year. Kansas farmers estimate corn at fifteen cents a bushel. It is cheaper fuel than coal or wood. A farmer near Cedar Falls, Iowa, has made this season four thousand gallons of sorghum, which he sold for sixty five cents a gallon. The Edenburg, Clarion county, race course has been sold to the sheriff for $1,685 Judge Yellott, Associate Judge of the Fourth Judicial district of Maryland, was acquitted of the charge of drunkenness while on the bench. Pittsburg's losses by the riots and fires aggregates $2,610,000. Mr. Agnew, the postmaster at Agnew's Mills, Clarion county, has been in office 45 years. At Newmarket, N. H., recently, John H. Robbison, on his death bed, confessed that he murdered a young man named Jewell in the town of Candia, N. H., some twenty years since. Friday morning the 11th inst. a little son of J. C. Kipp, of Millerstown, died of concussion of the brain, caused by falling from a chair. The winter of 1828, was S0 mild that there was no snow at all, and the first ice was gathered in March. The list of depositors in the late Huntzinger bank, Pottsville, as published in the Miner's Journal, measured fifteen feet in length- The number of depositors was 1,975: the largest deposit was $68,205,71; the smallest one cent, by J. A. Huntzinger himself, and the total amount over $1,000,000. The Farmers' National Bank of Pennsburg. not having strictly complied with the banking laws, has received notice from the Controller of Currency that unless it voluntarily goes into liquidation within sixty days, he will appoint a receiver to wind up its affairs. The Topeka Bank and Savings Institute of Topeka closed its doors January 3Ith. Deposits, about $140,000; notes, discount and stock, about $225,000; real estate, $65,000. It is a State n bank. The American committee or revise of the Bible has completed its work on the most important books-the Pentateuch, the Psalms, Isaiah, the Gospels. and the Acts of the Apostles. The work will not be completed for over a year.