19540. Stroudsburg Bank (Stroudsburg, PA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 3, 1884
Location
Stroudsburg, Pennsylvania (40.987, -75.195)

Metadata

Model
gpt-5-mini
Short Digest
2caf26d8

Response Measures

None

Description

Contemporary reports state William Wallace, president of the Stroudsburg Bank, failed in early June 1884 with liabilities of $200,000. Articles report the failure on June 3 and June 4, 1884. No run or reopening is mentioned; this is a bank failure/closure due to insolvency (bank-specific adverse information).

Events (1)

1. June 3, 1884 Suspension
Cause
Bank Specific Adverse Info
Cause Details
President William Wallace failed with liabilities of $200,000, indicating insolvency of the bank leading to its failure/closure.
Newspaper Excerpt
WILLIAM WALLACE, president of the Stroudsburg, Pa., Bank, failed on the 3d for $200,000.
Source
newspapers

Newspaper Articles (2)

Article from Mower County Transcript, June 11, 1884

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Article Text

GENERAL JUDGE GILBERT L. PARK died at Waukesha, Wis., on the 4th inst. G. T. FOSTER & Co., wholesale milliners, failed at Detroit, Mich., on the 5th, with liabilties of $45,000. WILLIAM WALLACE, president of the Stroudsburg, Pa., Bank, failed on the 4th inst., with liabilities of $200,000. THE United Presbyterians, in session at St. Louis, were very much divided on the subject of music in church, on the 4th inst., and the anti-organists talk of seceding. AARON CRANE, a Harvard athlete, died at Cambridge, Mass., on the 4th, from heart disease brought on by over exertion. A NEW process in iron-making by the application of vapor fuel was successfully inaugurated at Joliet, Ill. on the 2d. A CONVENTION of the American Flint Glass Workers' Union meets at Pittsburg on the 2d prox. The Window Glass Workers' Association assembles in annual convention at the same place on the 8th prox. Wm. WALL, a prominent politician and exmember of the legislature, died at Oshkosh, Wis., on the morning of the 3d inst., of Bright's disease. JNO. T. WILSON was appointed receiver of Booth's Theater, New York on the 2d inst. FISK & HATCH on the 2d, notified the New York Stock Exchange of their resumption. THE comptroller of the currency appointed M. L. Bundof Newcastle, Ind., on the 2d inst., receiver of the Hot Springs National Bank. O. R. JOHNSON foreclosed a mortgage on the Blake Opera House, Racine, on the 2d, and bought in the property for $32,000. The Bay Citys and Grand Rapids clubs are still in the lead for the chamcionship pennant, with Quincy and Saginaw following closely after. Peoria is improving fast and holds fifth place, while Milwaukee has dropped to the intermediate position. The balance of the clubs are strung along, but are playing only a fair game. Muskegon received quite an elevation by winning three games from Milwankee.


Article from Wessington Springs Herald, June 27, 1884

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Article Text

the House DIIIS were passed forteitting the land grants of the California & Oregon Road and the Iron Mountain Road from Pilot Helena 01 DCMESTIC. IN the Cleveland (0.) Rolling Mills on the 2d, in tapping a vast caldron of molten iron, holding fifty tons, too large an orifice was made, and the seething fluid speedily *covered the floor. All the employes escaped save two, who were compelled to wade through the hissing mass, which an explosion sent flying in all directions, stripping the men of their clothing, and literally cooking their flesh. Their injuries were fatal. AT twenty-six leading clearing-houses in the United States the exchanges during the week ended on the 31st ult. aggregated $725,688,075, against $912,873,706 the previous week. As compared with the corresponding period of 1883, the clearings couth .red 8'II JO decrease B pemons THE public-debt statement issued on the 2d makes the following exhibit: Total debt (including interest of $10,328,993), $1,848,636,129. Cash in Treasury, $389,368,637. Debt, less amount in Treasury, $1,459,267,492. Decrease during May, $4,762,241. Decrease since June 30, 1SS3, $91,823,714. THE United States Circuit Court at Philadelphia on the 2d appointed Stephen N. Caldwell, Edwin M. Lewis and George De B. Keim receivers of the Reading Railway Company, and issued an injunction restraining any interference with the receivers. THE Ware River mill at South Barr, Mass., was burned by an incendary the other night, causing a loss of $100,000. NEAR Pleasanton, Kan., on the 2d a woman, two girls, aged sixteen and eleven years respectively, and a boy aged six years were found murdered, and the bodies were too much decomposed to be identified. There was no clue to the horrible affair. Ex-SHERIFF BANKSTON and Lawyer Coats, who prosecuted Bankston recently for bigamy, had on affray on the 2d at Arkansas City, Ark., Coats being killed and the ex-Sheriff mortally wounded. FISK & HATCH, the well-known New York firm of brokers, who suspended during the recent crisis, announced their re sumption of business on the 2d. SHERIFF TAYLOR, of Montgomery CounSung B JO eag pg the uo 'At of outlaws fourteen miles from Clarksville who had been carrying on their deeds of violence for twenty years. A dozen or more murders, innumerable house-burnlings, robberies and other crimes had been traced to them. ANOTHER rain-storm swept through the eastern section of Texas on the 3d, embracing an area as large as Illinois and Indiana. Crops were washed out and railway tracks and bridges were wrecked. (Thousands of acres-of wheat ready for harvesting had been prostrated, and cotton was completely ruined. The loss to agricultural interests would reach hundreds of thousands cf dollars. GEORGE SHELDON, of the firm of Sheldon & Co., bankers, of Sherman, Chautauqua County, N. Y., left on the 3d for parts unknown with $15,000 of the bank's money, and the institution had been closed. JESSE CARTER, a colored murderer, was hanged at Pittsburgh, Pa., on the 3d. He asserted his innocence on the scaffold. THE steamer Rosa Belle exploded her boiler on the 3d five miles below Petersburg Ind., instantly killing Captain Charles Applegate and his son, and John P. Hayne, the engineer, and making a total wreck of the boat. FORTY-SIX persons graduated from the Annapolis (Md.) Naval Academy on the 'pg WILLIAM WALLACE, President of the Stroudsburg (Pa.) Bank, failed on the 3d for $200,000. KANSAS Sheriffs were on the 4th hunting for Lewis Wampler, who murdered five members of the family of John H. Ander.ueu w.rup u uo nos was last seen near Paola, and was believed to be hidden in Kansas City. THE Palisade Mountain House, on the Hudson, ten miles above New York, was burned the other morning. Loss on building and furniture, $130,000; insurance, *000'00T3 AT St. Louis on the 4th John Stanton, in a fit of jealousy, threw a gobletful of sulphuric acid over his wife as she lay in bed, burning out her eyes and causing fatal injuries. SADIE HAYS, a negress, who killed Police Sergeant Jenks, was sentenced at St. Louis on the 4th to be hanged July 18. THE assignee's report of the condition of the Penn Bank of Pittsburgh, Pa., made on the 4th, showed that $1,466,205 was-due depositors, and that the overdrafts aggregated $1,250,954. Most of the directors withdrew their accounts on the day the bank closed for the last time. FIVE children went home from a circus In Dakota a few days deeply impressed by the feat of descending an incline on a globe. Finding a smooth log lying at the tep of a steep hill, they took their places They rolling 7! as pus MOS . II: 41 uo were all thrown off and run over, three be"pellix Sug FIVE men were seriously injured at -pns eqf sq 028 shap MOJES "O Committee