19114. National Exchange Bank (Philadelphia, PA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
755
Charter Number
755
Start Date
January 15, 1870
Location
Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model
gpt-5-mini
Short Digest
965e7dda

Response Measures

None

Description

The articles (Jan 14–21, 1870) state the bank will go into liquidation at the close of business on the 15th inst. and its assets/accounts were assigned to the National Bank of the Republic — a voluntary consolidation/liquidation and transfer, not a depositor run. Classified as a suspension/closure due to voluntary liquidation and takeover.

Events (3)

1. January 25, 1865 Chartered
Source
historical_nic
2. January 8, 1870 Voluntary Liquidation
Source
historical_nic
3. January 15, 1870 Suspension
Cause
Voluntary Liquidation
Cause Details
Stockholders voted to consolidate with the National Bank of the Republic; National Exchange Bank to go into liquidation and its assets/accounts assigned to the acquiring bank; permanent transfer/closure of operations at that bank's location.
Newspaper Excerpt
Arrangements have been made for consolidating and uniting this Bank with the NATIONAL BANK OF THE REPUBLIC ... the NATIONAL EXCHANGE BANK will, as a separate association, go into liquidation at the close of business on the 15th inst., ... its assets, books, and accounts having been assigned to the National Bank of the Republic
Source
newspapers

Newspaper Articles (4)

Article from The Evening Telegraph, January 15, 1870

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Article Text

SPECIAL NOTIOES. NATIONAL EXCHANGE BANK OF PHILADELPHIA. PHILADELPHIA, January 14, 1870. At the annual meeting of the Stockholders of this Bank, held on the 11th inst., Benjamin Rowland, Jr., William H. Rhawn, Charles Richardson, William M. Seyfert, and Frederic A. Hoyt were duly elected Directors of this Bank. Ata meeting of the Board of Directors, held this day, BENJAMIN ROWLAND, Jr., was elected President, and WILLIAM H. RHAWN, Vice-President. Arrangements have been made for consolidating and uniting this Bank with the NATIONAL BANK OF THE REPUBLIC, of Philadelphia; and for this purpose the NATIONAL EXCHANGE BANK will, as a separate association. go into liquidation at the olose of business on the 15th inst., in accordance with a vote of the Stockholders and a resolution of the Board of Directors; and its assets, books, and accounts having been assigned to the National Bank of the Republic, they will be removed to its banking-house, at Nos. 809 and 811 OHESNUT Street, where the affairs of this Bank in liquidation will be conducted by the National Bank of the Republic, after the 15th inst. Checks drawn upon the National Exchange Bank against balances remaining to the credit of its depositors, after the 15th inst., will be paid at the National Bank of the Republic. The resignation of John W. Gilbough, as Cashier of this Bank, has been accepted, to take effect on and after the 15th inst. By order of the Board of Directors. B. ROWLAND, Jr., President. 1156t W. H. RHAWN. Vice-President. LOCAL PROHIBITION LAW. - THE DO Temperance Societies and Churches are requested to send Delegates to a Convention to promote the passage of a law allowing a majority to enforce Local Prohibition, to meet on TÜESDAY EVENING, January 18, at 7% o'clock, at No. 118 South SEVENTH Street. HORACE J. SMITH, 113 3t* Chairman. HELMBOLD'S FLUID EXTRACT BOY BUCHU is pleasant in taste and od or, free from all inrurious properties, and immed ate in its action. 1 15 OLOTHINO.


Article from The Evening Telegraph, January 17, 1870

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Article Text

THREE DAYS SALE OZ SEASON TICKETS. The opening sale of reserved season tickets will take place at GOULD'S Piano Rooms, No. 928 OHKSNUT Street, on Thursday morning, January 20, at 9 o'clock, and will be continued on the 20th, 21st and 22d, after which no more season tickets will be sold. The sale of reserved seats to ANY of the eingle lectures will commence on Monday morning, January 24, and continue daily from 9 A. M. to 5 P. M. The Prospectus of the Second Series is now ready, and may be obianed on application at GOULD'S, No. 923 CHESNUT Street; alsoa Pocket Diagram of the Academy of Music, showing the numbers and location of the seats. 1 17 St NATIONAL EXCHANGE BANK OF PHILADELPHIA. PHILADELPHIA, January 14, 1870. At the annual meeting of the Stockholders of this Bank, held on the 11th inst., Benjamin Rowland, Jr., William H. Rhawn, Charles Richardson, William M. Seyfert, and Frederic A. Hoyt were duly elected Directors of this Bank. Atameeting of the Board of Directors, held this day, BENJAMIN ROWLAND, Jr., was elected President, and WILLIAM H. RHAWN, Vice-President. Arrangements have been made for consolidating and uniting this Bank with the NATIONAL BANK OF THE REPUBLIC, of Philadelphia; and for this purpose the NATIONAL EXCHANGE BANK will, as a separate association, go into liquidation at the close of business OD the 15th inst., in accordance with a vote of the Stock. holders and a resolution of the Board of Directors: and its assets, books, and accounts having been assigned to the National Bank of the Republic, they will be removed to its banking-house, at Nos. 809 and 811 CHESNUT Street, where the affairs of this Bank in liquidation will be conducted by the National Bank of the Republic, after the 15th inst. Checks drawn upon the National Exchange Bank against balances remaining to the credit of its depositors, after the 15th inst., will be paid at the National Bank of the Republic. The resignation of John W. Gilbough, as Cashier of this Bank, has been accepted, to take effect on and after the 15th inst. By order of the Board of Directors. B. ROWLAND, Jr., President. 1 15 6t W. H. RHAWN. Vice-President.


Article from The Evening Telegraph, January 20, 1870

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Article Text

NATIONAL EXCHANGE BANK OF PHILADELPHIA. PHILADELPHIA, January 14, 1870. At the annual meeting of the Stockholders of this Bank, held on the 11th inst., Benjamin Rowland, Jr., William H. Rhawn, Charles Richardson, William M. Sey. fert, and Frederic A. Hoyt were duly elected Directors of this Bank. At a meeting of the Board of Directors, held this day, BENJAMIN ROWLAND, Jr., was elected President, and WILLIAM H. RHAWN, Vice-President. Arrangements have been made for consolidating and uniting this Bank with the NATIONAL BANK OF THE REPUBLIO, of Philadelphia; and for this purpose the NATIONAL EXCHANGE BANK will, as a separate association, go into liquidation at the close of business on the 15th inst., in accordance with a vote of the Stookholders and a resolution of the Board of Directors: and its assets, books, and accounts having been assigned to the National Bank of the Republic, they will be removed to its banking-house, at Nos. 809 and 811 OHESNUT Street, where the affairs of this Bank in liquidation will be conducted by the National Bank of the Republic, after the 15th inst. Checks drawn upon the National Exchange Bank against balances remaining to the credit of its depositors, after the 15th inst., will be paid at the National Bank of the Republic. The resignation of John W. Gilbough, as Cashier of this Bank, has been accepted, to take effect on and after the 15th inst. By order of the Board of Directors. B. ROWLAND, Jr., President. 1 15 6t W. H. RHAWN, Vice-President.


Article from The Evening Telegraph, January 21, 1870

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Article Text

NATIONAL EXCHANGE BANK OF nor PHILADELPHIA. PHILADELPHIA, January 14, 1870. At the annual meeting of the Stockholders of this Bank, held on the 11th inst., Benjamin Rowland, Jr., William H. Rhawn, Charles Richardson, William M. Seyfert, and Frederic A. Hoyt were duly elected Directors of this Bank. Ata meeting of the Board of Directors, held this day, BENJAMIN ROWLAND. Jr., was elected President, and WILLIAM H. RHAWN, Vice-President. Arrangements have been made for consolidating and uniting this Bank with the NATIONAL BANK OF THE REPUBLIC, of Philadelphia and for this purpose the NATIONAL EXCHANGE BANK will, as a separate association, go into liquidation at the close of business on the 15th inst., in accordance with a vote of the Stookholders and a resolution of the Board of Directors; and its assets, books, and accounts having been assigned to the National Bank of the Republic, they will be removed to its banking-house, at Nos. 809 and 811 OHESNUT Street, where the affairs of this Bank in liquidation will be conducted by the National Bank of the Republic, after the 15th inst. Checks drawn upon the National Exchange Bank against balances remaining to the credit of its depositors, after the 15th inst.. will be paid at the National Bank of the Republic. The resignation of John W. Gilbough, as Cashier of this Bank, has been accepted, to take effect on and after the 15th inst. By order of the Board of Directors. B. ROWLAND, Jr., President. 1 15 6t W. H. RHAWN, Vice-President.