19524. Northumberland County National Bank (Shamokin, PA)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
689
Charter Number
689
Start Date
February 17, 1877
Location
Shamokin, Pennsylvania (40.789, -76.559)

Metadata

Model
gpt-5-mini
Short Digest
63502f72

Response Measures

Full suspension

Other: Comptroller of the Currency closed the bank; receiver mentioned in one dispatch

Receivership Details

Depositor recovery rate
81.6%
Date receivership started
1877-03-12
Date receivership terminated
1883-01-18
OCC cause of failure
Excessive lending
Share of assets assessed as good
32.8%
Share of assets assessed as doubtful
54.6%
Share of assets assessed as worthless
12.6%

Description

Contemporary reports (Feb 17-18, 1877) state a run on the bank triggered by the stoppage of the Miners' Trust and Safe Deposit Company; the Comptroller of the Currency is also reported to have closed the bank and a receiver is mentioned in dispatches. No reports of reopening are found in the provided articles, so I classify this as a run that led to suspension and likely permanent closure/receivership.

Events (4)

1. January 9, 1865 Chartered
Source
historical_nic
2. February 17, 1877 Run
Cause
Local Banks
Cause Details
Run by depositors triggered by the stoppage/suspension of the Miners' Trust and Safe Deposit Company in the same town (panic contagion).
Newspaper Excerpt
the suspension was brought on by a run, caused by the suspension of the Miners' Trust and Safe Deposit Bank yesterday.
Source
newspapers
3. February 17, 1877 Suspension
Cause
Government Action
Cause Details
Reports state the Comptroller of the Currency closed the Northumberland County National Bank; bank officers attribute the suspension to the preceding run.
Newspaper Excerpt
The suspension is attributed to the action taken by the United States Controller of the Currency who closed it.
Source
newspapers
4. March 12, 1877 Receivership
Source
historical_nic

Newspaper Articles (6)

Article from Public Ledger, February 17, 1877

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Article Text

Another Bank suspension. POTTSVILLE, February 17.-The excitement at Shamokin, caused by the stoppage of the Miners' Trust and Safe Deposit company yesterday, is intensified this morning by the suspension of the Northumberland county National bank. No further reliable particulars can be given at present.


Article from Chicago Daily Tribune, February 18, 1877

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Article Text

FINANCIAL. POTTSVILLE, Pa., Feb. 17.-The excitement.at Shamokin, caused by the stoppage of the Miners' Trust and Safe Deposit Company yesterday, is intensified this morning by the suspension or the Northumberland County National Bank. No further reliable particulars can be given at present. POTTSVILLE, Pa., Feb. 17.-A dispatch from Shamokin states that the cause of the suspensian of a national bank there is attributed to the action taken by the Comptroller of the Currency, who closed it up. The bank officers claim that the suspension was brought on by a run, caused by the suspension of the Miners' Trust and Safe Deposit Bank yesterday. Its deposits were large. New YORK, Feb. 17.-A Receiver has been


Article from Daily Kennebec Journal, February 19, 1877

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Article Text

News is received here that the excitement at Shomokin, caused by the stoppage of the Miners' Trust and Safe Deposit Co., yesterday, is intensified this morning by the suspension of the Northumberland County National Bank. No particulars.


Article from New-York Tribune, February 19, 1877

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Article Text

FAILURE OF A NATIONAL BANK. POTTSVILLE, Penn., Feb. 18.-The excitement at Shamokin caused by the stoppage of the Miners' Trust and Safe Deposit Company was intensified yesterday by the suspension of the Northumberland County National Bank. The suspension is attributed to the action taken by the United States Controller of the Curreney who closed it. though. it is claimed by the bank officers that the suspension was brought on by a run caused by the suspension of the Miners' Trust and Safe Deposit Bank yesterday. Its deposits were large. A statement was promised by the officers yesterday afternoon, but none was made public. The capital of the concern was $67,000, with over $200,000 of deposits.


Article from The Morristown Gazette, February 21, 1877

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Article Text

NEWS SUMMARY. e debt of the Methodist Publishing se, in Nashville, is $250,000. reene claims a 121 county darkey Next! 'S old, who wants to marry. ne treaty with Spain was ratified by Senate on the 10th. urkey and Servia have agreed upon is of peace. revolt is threatened in Constantile. x-President Lerdo, of Mexico, arrivn New York, on the 11th. he engineers on the Boston and Mia railroad have struck. [ardi Gras was celebrated in Mem3 and New Orleans in grand style. WO murderers were hanged at Port pacco, Md., last Saturday, both cold. everal vessels, with their ciew3 and were lost the week, sengers, first Bay. of last storm on Chesepeake he Northumberland county National nk at Shomokin, Pa., closed its doors iday. A large savings and trust comby of the same village failed the day fore. saac W. Sitler, a druggist, has been Id the action of the grand in y, to answer Philadelphia, for poisoning a lato death with muratic acid, by misse in compounding a prescription. Steam street cars have been introduced one of the lines Philadelphia, longest the city-Market street-being comletely fitted out with them. The of William Sterris & Co., imorters of 598 store laces, Broadway, New finwas robbed last week of their ork, stock. Loss estimated at over $25,00. One thousand two hundred and fiftyine of the coun7, have S. C., taxpayers paid $3,409.95 of Anderson of their ixes to the Hampton Government. .bout one hundred of this number were olored men. A man calling himself J. A. Burgett, vas in Lebanon n of the arrested charge swindling. last Saturday, He had windled a number of Springfield merchauts. The United States Commissioners Court attacked by men, in was armed and disNorth Carclina, the other day, persed. The armed men belong to a gang of illicit distillers. Caroline Lambert, aged 101 years, was burned to last had some kerosene on dropped death, Monday. her clothing, She which was accidentally ignited, burning her to a crisp-Ex. murdered man was found in Obion near Paducah on iver, A Junction, the Northwestern road. He had a bullet ole through his forehead, and one through his breast. He was not identiied. The Supreme Court of Utah Territory as overruled the objections made to the conviction of John D. Lee, the Mounain Meadow murderer, and has ordered he Lower Court to fix another day for he execution. The Cashier of the First National Bank of Franklin, Ind., who was a defaulter, nd who disappeared last week, was a room Cound, Saturday, lying in back condiear the bank, in an exhausted ion. He was insane. An election has been called for the 13th of March, in the ninth Congressional District of Georgia, to fill the vacancy caused by the election ot Hill to the Senate. Walls, a brakeman on the Nash and ville, John Chattanooga St. Louis railway, was so badly crushed while coupling the cars at Stevenson, on the 13th, that he died a few hours afterwards. The Fayetteville Observer chronicles the death of Mr. Larry Dempsey, a citizen of that county, aged 109 years. A lot of Ohioans, of ample means and enterprise, propose to establish glass works at Chattanooga. The Brownsville Bee has been revived after a suspension of about 12 months. W. Ivie Westbrook, editor and proprietor.


Article from The Cecil Whig, February 24, 1877

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Article Text

Late News Items. Trouble from the Indians is experienced near Deadwood. Dakota Territory, and General Crook has ordered three cavalry companies to proceed to that place. The President has appointed Edward N. Stebbings, of New Jersey, a member of the Board of Indian Commissioners. Thirty buildings were destroyed by fire at Sag Harbor, N. Y., early on Sunday morning. The loss amounted to $200,000. Eight spans of the Lewistown & Sunbury railroad bridge, at Selinsgrove, Pa, was burned on Saturday evening. Loss, $30,000. Work was suspended in all the mines of the Lehigh and Wilkesbarre Coal Company on Friday. The suspension is expected to be of brief duration. Six hundred of the unemployed Trenton potters had a parade in that city on Saturday last. A number of their banners contained free trade inscriptions. A colored man was nominated for Councilman by the Democrats of Chester, Pa., recently, and on Saturday he declined the nomination He said he belonged "on the other side of the fence. Several of the foreign ministers accredited to our Government persist in residing in New York, and the Secretary of State, it is said, will ask their governments to instruct them to reside at their posts. A respectable-looking middle-aged man, apparently a French Canadian, was found dead in a room at the Wilmington City Hotel, on Sunday. He had not registered, and there was no clue to his identity. Rear-Admiral Chas. H. Davis, Superintendent of the Naval Observatory, died Tuesday in Washington. He entered the Navy from Massachusetts about forty four years ago, and was appointed Superinten dent three years ago. A telegram from Agent Warner to the Internal Revenue Commissioner on Saturday states that his raiding party in Yadkin county, N. C,, recently captured 29 copper stills and 39,000 gallons of mash and beer, and destroyed 8 distilleries. Col. Frederick Meyer, a revenue agent, was shot and dangerously wounded at Warrenton, Mo., on Sunday, by M. C. Dryden, a lawyer. The shooting grew out of a dispute concerning the seizure of stills belonging to Dryden's clients. The Northumberland County National Bank, at Shamokin, Pa., suspended on Saturday morning. Its officers say that its suspension was caused by a run on its deposits, but there is a report that it was closed by an order from the Comptroller of the currency. The seven men who perished by the wrecking of the schooner Colborns, in Chesapeake Bay on Monday of last week, were from the eastern shore of Virginia, and all leave families. By the wrecking of two oyster pungies and another schooner twenty lives were lost. A telegram to the New York Tribune says President Grant will leave the White House on the 3d of March, and he and Mrs. Grant will be the guests of Secretary Fish until they leave the capital, early in April. The report that the President will give a farewell dinner to his Cabinet was unanthorized.