19543. First National Bank (Tamaqua, PA)

View Charter #1219 on SPMC

Bank Information

Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
1219
Charter Number
1219
Start Date
October 14, 1878
Location
Tamaqua, Pennsylvania (40.797, -75.969)

Metadata

Model
gpt-5-mini
Short Digest
6e9f225e

Response Measures

None

Description

The First National Bank of Tamaqua suspended payment Oct 14, 1878 and examiners declared it solvent; it resumed business in mid-November 1878 (articles cite Nov 13–16). Suspension appears tied to the failure/flight of a major debtor/stockholder C. F. Sheener whose paper was protested, so classified as bank-specific adverse information. No articles describe a depositor run.

Events (4)
1. June 5, 1865 Chartered
Source
historical_nic
2. October 14, 1878 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suspension caused by failure/distress of C. F. Sheener; his notes/paper were protested and he held large interests tied to the bank (major stockholder and large paper protested).
Newspaper Excerpt
The First National Bank of Tamaqua has suspended.
Source
newspapers
3. October 16, 1878 Other
Newspaper Excerpt
A Suspended Bank Declared Solvent. ... the First National Bank of Tamaqua ... was declared solvent by the bank examiners today, but it is not yet known whether it will resume business or not.
Source
newspapers
4. November 16, 1878 Reopening
Newspaper Excerpt
The First National bank of Tamaqua ... will resume business to-day, (16th inst.)
Source
newspapers

Newspaper Articles (15)
1. October 14, 1878 The Rock Island Argus Rock Island, IL
Article from The Rock Island Argus, October 14, 1878

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Telegraphic Brevities. FITCHBURG. Mass. October 4,-The woolen mills of Gilchrist & Jones, the damages are $30.000 by incendiary fire; insurance $23,000. BOSTON, Oct. 14.-Dispatches from along the coast continue to report great loss of property on the sea and shore. POTTSVILLE, Oct. 14.-The First National Bank of Tamaqua has suspended. VINEYARD HARBOR, Oct. 14.-In a gale Saturday the schooner Etta Stinson was capsized and the captain, his wife, and five seamen were drowned. NEW YORK, Oct. - Jesse R. Oakley, defaulting cashier Merchant's Exchange National Bank, who fled to Europe in 1870, and who returned recently and pleaded guilty, was sentenced to-day in the U. S, court to five years at hard labor in the Albany penitentiary. DETROIT, Oct. 14.-The great cricket match between the Australian eleven and eighteen of the Peninsular club of De. troit, was commenced at 10 o'clock this morning. The Australians won the toss and sent the Peninsular to bat; first inning, Peninsulars scored 32. The attendance at the grounds is large, and the weather is superb. NEW YORK, Oct. 14.-Mrs. Jennie R. Smith,indicted for murder of her husband, police officer Smith, was arraigned to day in the Hudson county court, N. J. to plead; she uttered a loud cry as she answered "not guilty sir;" she half swooned as she rose to leave the court room and leaned heavily on the arm of the officer who led her out, Her wailing could be heard for a long time.

2. October 14, 1878 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, October 14, 1878

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Bank Suspension. POTTSVILLE P₂, Oct. 14-The First N1. tional Bank of Tamaqua bas suspended. No statement of its condition basbeen made public

3. October 15, 1878 The Daily Gazette Wilmington, DE
Article from The Daily Gazette, October 15, 1878

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e shares of the Baltimore and Ohio Dad Company, par 100, sold down to n Saturday. elegram from Pottsville yesterday he First National Bank at Tamaqua, huylkill county, has suspended.

4. October 15, 1878 The Waco Daily Examiner Waco, TX
Article from The Waco Daily Examiner, October 15, 1878

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Another Bank Suspended. POTTSVILLE, Pa., October 14.-The First National bank of Tamaquah suspended. No statement of its condition has been made public.

5. October 15, 1878 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, October 15, 1878

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The first national bank of Tamaqua, Penn., has suspended. James A. Adjutant was instantly killed at Brooksville, N. H., Friday, by being run over by a heavily loaded team be was driving.

6. October 15, 1878 The New York Herald New York, NY
Article from The New York Herald, October 15, 1878

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SU-PENSION OF A BANK. PAYMENT SUSPENDED BY THE FIRST NATIONAL BANK OF TAMAQUA, A.-DEPOSITORS TO BE PAID IN FULL. [BY TELEGRAPH TO THE HERALD. ] TAMAQUA, Pa, Oct. 14, 1878. The First National Bank of this place suspended pay ment this morning. The suspension caused genoral surprise all over the country, and it has been almost the sole surject of conversation to-day in business circles. Tne correspondent of the HERALD called on one of the bank officials this evening, and learned that it was caused by Mr. C. F. Sheener, ot No. 328 Walnut street, Philauelphia. Mr. Shoeper OWDE nearly twothirds of all the stock, and over $200,000 worth of his paper weat to protest on Saturday last. Five years ago he was worth about $1,500,000. He was always very encerprising and consequently invested bis money in various business pursuite. His investments lu this city are very large. He owns the Tamaqua Rothing Mill, a colliery at Beaver Meadow, a surnace at Reddington, Northampton county, and IS a twothird owner in Shoener & Alien's machine works, in this borough, and besides had a lot of bonus and stocks in Philadelphia. His failure seriously affects all these enterprises. The back was first inaugurated in 1854 as the Anthracite State Bank, and was turned into a national bank 18 1863. 1be directors are Mr. George Wiggan, Mr. E J. Fry, of Tamaqua; Mr. C. T. Succurr, Mr. George F. Wiggan, Mr. W. F. Carter, Mr. W. F. Donaldson, of Pailade.phis, and Mr. Thomas Carter, of Andenried. According to a statement made to your correspondont by one of the directore, the bank 18 able to pay depositors dollar for dollar. They have on hand $150,000 in bonds and $90,000 in individual deposits. For years past the bank has been paying ten per cent dividends and was always considered a reliable institution. To-day the Stock is quoted ou the exchange at $84, $34 above par value. The suspension, however, will nave a pa1 effect on the community, as a large number of poor people are depositors. The rolling mill and machine shop here have stopped, throwing a large number of people out of employment. This occurring at the ominencement of winter means general destisution among the poor.

7. October 16, 1878 The Morning Herald Wilmington, DE
Article from The Morning Herald, October 16, 1878

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BY MAIL AND TELEGRAPH. The First National Bank, of Tamaqua, Pa., has suspended. A special despatch from Atlantic, Iowa, says Dug Goodale, son of A. Goodale, a prominent citizen of that (Cass) county, was arrested there yesterday for complicity in robbing the Deadwood stage on the 21st of September. Six thousand dollars of the plunder, including a gold brick worth $4,000, was recovered. Lewis Tallman, tbe National Greenback Candidate, for Governor, of Tennessee became 80 hopelessly demoralized over the ventilation of his record that he has with drawn from the canvas 10 diegust. Every vote he cast while in Congress from 1867 to 1869 was in direct antagonism to the position he now occupies, and he has been twitted with it at every turn.

8. October 17, 1878 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, October 17, 1878

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A Suspended Bank Declared Solvent. POTTSVILLE, PA., October 16.-The First National Bank of Tamaqua, the failure of which was announced Tuesday, was declared solvent by the bank examiners today, but it is not yet known whether it will resume business or not.

9. October 19, 1878 Chariton Courier Keytesville, MO
Article from Chariton Courier, October 19, 1878

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Doug. Goodale, son of a prominent citizen of Cass County, Iowa, has been arrested at his home, charged with complicity in robA bing the Deadwood stage on Sept. 21. gold brick, valued at $4,000, and $2,000 besides were found in 'ais "possession. Hon. Lewis Tillraar., National Greenback nominee for Governer of Tennessee, has issued a card withdrawing from the contest, on account of the confessed hopelessness of making a succe esful canvass. A riot betw een whites and blacks occurred at Water proof, La., during a political meeting he'd on the 12th, in which a Mr. Peck, whi're, and four colored men were killed, and Fairfax, colored nominee for Congress, wounded. The report says that after the fight both sides encamped on the field, sleeping on their arms, and further hostilities were apprehended. EAST AND SOUTHEAST. Another arrest of counterfeiters has been made at Towanda, Pa. An excursion train on the Old Colony Railroad, returning from a boat race at Silver Lake, ran off the track when within about seven miles of Boston, wrecking five cars and killing 25 persons and injuring many others. Among the killed are J. A. Hasy and Charles Morgan, of the Boston Express, and Patrick Reagan, the oarsman. Rev. Mr. Hayden, of Madison, Conn., who was recently under trial for the murder of Mary Stannard and discharged, has been again arrested in consequence of the discovery made by a post mortem examination that the girl had been poisoned by arsenic. The theory of the prosecution is that Hayden administered arsenic to her, telling It or was an abortive po' don; that it did not take immediate effect and the girl perhaps, suson started pecting that sh 10 had be poisoned, to run for , some, when he dashed out her brains w in a stone. It was developed in for the mer examination that the minister had . purchased a quantity of arsenic for the ? leged purpose of killing rats. Four miners were instantly killed by a gass explosion in a Wilkesbarre (Penn.)mine on the night of the 8th, caused by one of their number venturing into the mine with a naked lamp. Full returns from the Connecticut town elections show 80 towns Republican, 55 1 Democratic, and 30 evenly divided; last 7 year, 70 Republican, 69 Democratic, and 26 y divided. 1 The village of Edinburgh, Lawrence Coune ty, Penn., was almost totally destroyed by fire on the morning of the 13th. Two huny dred and twenty-five buildings were burned, valued at from $350,000 to $400,000. There t was a fair insurance on the property. Commodore Cornelius K. Garrison, of f New York, has recently wedded Mrs. Letitia Willet Randell, of St. Louis. The bride is about 25 years of age, while the bridegroom is in the neighborhood of three score. The t Commodore's wealth is estimated at from $5,000,000 to $7,000,000. V The Jury in the Billings wife-murder 1 case, on trial at Ballston, N. Y., failed to S agree and was discharged. They stood 11 t for conviction and one for acquittal. e The First National Bank of Tamaqua, Pa., S has suspended. Hathaway, the Fall River (Mass.) deV faulter, has been sentenced to 10 years in f State-prison. He throws the onus of his , transgressions upon S. Angier - Chace, who t he says-placed him in important positions solely that he might use him to further his 1 own ends. t

10. October 23, 1878 New Ulm Weekly Review New Ulm, MN
Article from New Ulm Weekly Review, October 23, 1878

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MISCELLANEOUS. There is a panic in the iron trade, at Glasgow, Scotland. The savings bank at Lexington, Mass., is being closed up. There will be no loss to de ositors. The First National bank at Tamaqua, Pa., has suspended Assets $150,000. Liabilities not known. The weather is warmer at the South, and there seems as yet, to be no abateinent of the yellow fever plague. The wheelbarrow lunatic, who has been several months trundling a wheelbarrow from New England to California, has, at last, arrived in San Francisco. He rejoices the name of R. Lyman Potter. A Constantinople correspondent of the Political Correspondence, while confirming the statement that official circles value the maintenance of good relattons with Austria, says, nevertheless, both in the palace and elsewhere, agitation is kept up against Austria. A Constantinople dispatch says the Porte has received information that the Russians have recommenced marching on Adrianople, presumably from the north. All foreign military attaches have left Constantinople to verify this intelligence. Old Indians, squaws and pappooses of the Bannock tribe, have been maintained on the reservation this summer, while the young Indians have been on the war path. That IS a beautiful "Indian policy," arms and equips the savages, and supports their squaws on the reservation, while the "bands" are on the war path, murdering frontier settlers. J. H. Burke, a stockholders of the Consolidated Virginia Mining company, has brought suit in the Twenty-third district court of California, to recover from J. Good, J. W. McKey, J. G. Fair and the Pacific Mill & Mining company $26,000,000, alleged to have been wron gfully taken from the stockholders of the Consolidated Virginia by defendants in the manipulation of ore and retention of tolling of the company. Heugh Balfour & Co., of Manchester, Eng have failed. Liabilities estimated between one million and two million sterling. The

11. November 14, 1878 Daily Globe Saint Paul, MN
Article from Daily Globe, November 14, 1878

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ALL AROUND THE GLOBE, The First National bank of Tamaqua, which suspended the 14th of October, will resume business Saturday. The Central savings bank, Jersey City Heights. is being closed, owing to a lack of profitable business. All obligations will be met in full. The paint shop, saw mill, drying room and shoemaking shop of the central prison at Toronto burned yesterday morning. Loss $100,000; heavily insured. The female power loom weavers in the carpet mills of the Nineteenth ward, Philadelphia, have struck on account of a notification of a reduction of wages of one cent per yard. The strikers are willing to accept one-half cent reduction. A Virginia City dispatch says the superintendent of the bonanza mines stated to a reporter this morning that the real cause of the discharge of men was the intense heat. The miners will resume work here as soon as connection is made with the Ophir. This will be in ten days.

12. November 14, 1878 New-York Tribune New York, NY
Article from New-York Tribune, November 14, 1878

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TELEG RAPHIC NOTES. COAL MINERS ON STRIKE. CINCINNATI. Nov. 13.-All the coal miners in the vicinity of Zanesville, Ohio, are on strike, demanding a quarter of a cent advance per bushel. DEATH ON THE RAILWAY TRACK. AUBURN, N. Y., Nov. 13.-Henry R. Bart. fireman on the Sonthern Central, was crushed to death this evening, under the transom of a tender. His foot slipped in alighting from the engine, and he was thrown on the track. A SUSPENDED BANK TO RESUME. TAMAQUA, Penn., Nov. 13.-The First National Bank of Tamaqua, which suspended payment on the 14th of October last. will resume business on Saturday next. THE FLIGHT OF A MERCHANT. BOSTON, Nov. 13.-J. F. Gourley, a drv goods dealer here, disappeared on Monday after secretly shipping off a large portion of his stock. About $3,000 worth of the goods have been recovered at the railroad station. A LECTURE ON THE PARIS EXHIBITION. CHAMPAIGNE, III., Nov. 13.-Dr. Gregory lectured here last night by special request on "The Alina. Facts and Results of the Paris Exposition." The doctor's report on the Exposition to the Governor is now being prepared, and will embrace matters of great interest. THE ADVOCATES OF WOMAN SUFFRAGE. INDIANAPOLIS, Nov. 13.-The Convention of the American Wömen's Muffrage Association met to-day, with delegates present from thirteen States. The proceedings were mainly of a business character. The night session was devoted to speaking. WESTERN DRUGGISTS IN COUNCIL, CHICAGO, Nov. 13. -The W estern Wholesale Draggists' Association met here to day. Thomas Lord, of Chicago, was elected president : J. C. Richardson, of St. Louis, vice-president. and S. M. Strong. of Cleveland, treasurer. OBLIGED TO BREAKFAST ON BREAD AND COFFEE. AUBURN, N. Y., Nov. 13.-Owing to a fire in the store-room of the State Prison this evening, which destroyed the entire stock of provisions for the month. including Hour, meats, vegetables, etc., the convicte will have only bread and coffee for breakfast. THE TRUE POSITION 03 RAILROADS. COLUMBUS, Ohio, Nov. 13.-At the morning session of the Convention of State Railroad Commissioners, a resolution was adopted appointing a committee to consider the true status of railroad corporations in the body politic. Ad. journed to meet in January. OFFICERS OF A VETERANS' HOME. BATH, N. Y.. Nov. 13.-The trustees of the NewYork State Soldiers' and Sallors' Home, who met here to-day appointed Captain C. Parkinson, of Brooklyn, permanent Superintendent, and Dr. F. Wylie, of Bath. Surgeon. The Home will be ovened for immates about January 1st.

13. November 14, 1878 Wheeling Register Wheeling, WV
Article from Wheeling Register, November 14, 1878

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THE CREAM OF THE NEWS, Gathered from Our Dispatches. Cold closed yesterday at 100 Louisiana Radicals are urging the President to send troops to that State. It is said that the Mississippi jetties scheme will be ventilated as soon as Congress convenes, when some crookedness on the part of Captain Ends will be made plain. The Russian mission at Cabul has not been withdrawn. The First National Bank of Tamaqua, Pa. which suspended October 14th, will resume business on Saturday. A snow storm of exceptional severity prevailed in the North of England and throughout Scotland yesterday. Davis J. King, who was nominated on Tuesday night by the workingmen for Mayor of Boston, has declined. All the coal miners in the vicinity of Zanesville, Ohio, are on a strike, demanding a quarter of a cent advance per bushel. The German Bank, of Baltimore, has been enjoined from disposing of the assets of the bank, pending the appointment of a receiver. J. F. Gourley, a Boston dry goods dealer, disappeared on Monday, after secretly shipping a portion of his stock. Part has been recovered. M. Frank Paige, a prominent boot and shoe dealer, of Boston, was arrested yesterday on the criminal charge of conspiracy with his partner, Stetzon, to dedefraud his customers. The Allentown Iron Company, having an office in Philadelphia, resolved yesterday to temporarily suspend business, and named November 29th as the date when the stockholders are to meet to receiven.statement Hon. Milton Sayler says that he will not contest the election of Hon. Benj. Butterwosth, Congressman elect from the First Ohio district.

14. November 16, 1878 The Carbon Advocate Lehighton, PA
Article from The Carbon Advocate, November 16, 1878

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-West's liver pills cure dyspepsia. --Chew JACKSON'S BEST Sweet Navy To7-50. bacco. -Spelling schools will soon be in fashion in the country districts. -Sale bills are turned out at this office at the shortest notice. -Potatoes 75 cents per bushel. That is too high, considering the times. -Read Tilghman Arner's new advertisement in another column. -There is no longer any trouble with trade dollars-everybody takes them at par. -Every teacher should think enough of his profession to attend the county institute. -Conrad Seiner was fataly injured by a fall of coal in Silliman's colliery, at Mahanoy City, Monday. -Timothy Sheehan was killed by a fall of coal in the Lower Rausch Creek Colliery at Tremont, Tuesday. -If you want a fashionable hato cap,call at T. D. Clauss', and buy one for a small amount of money. -The Bethlehem Iron Works are running on full time with a force of men probably larger than ever before. -The First National Bank of Tamaqua, which suspended the 14th ult.,will resume business to-day, (16th inst.) -Get your prescriptions, and Family Recipes compounded, at A. J. Durling's Family Drug and Medicine Store. -The voters of Lackawanna county voted on the question of a county seat last week, and Scranton got it unanimously. -1 and 2 chestnut,stove and egg Latimer coal, cheap by the car, at J. L. Gabel's hardware store, Lehighton, Pa. -The oldest resident of Pittston, Luzerne county. William Campbell, died on Saturday, aged ninety-seven years. -Overcoats, latest stylesand best material, for a small amount of ready eash, at H. H. Peters', Post office building, Lehighton. -George w: Johnson, clerk at the Draper colliery, Schuylkill county, received injuries on Saturday that will prove fatal by cars running over his body. -We would ask subscribers to examine the direction tab pasted on their paper. If you see you owe us, please step in and pay, or send the amount. -The Lehigh Gap Bridge Company will hold its annual election for officers to-day (Saturday), Nov. 16th, at the public house S. J. Berger, at the Lehigh Gap. -Hogs are now selling in the Cincinnati market at $2.40 to $3.00 per 100 lbs. gross.The Gazette says this is the lowest price paid within the last twenty-eight years. -P. T. Brady was in town over Sunday. We are pleased to state that he has almost entirely recovered from his severe attack of fever and ague. His home at present is at Hokendauqua. -Another new and elegant stock of fall and winter cloths and suitings at H. H. Peters, Post office building. Good fits, low prices and satisfaction guaranteed always. -Governor Hartranft, of Pennsylvania, and Carroll, of Maryland, have issued proclamations designating November 28 as Thanksgiving Day. -If you want shirts, neck wear, or any other article in gent's furnishing goods, call on T. D. Clauss, and he will supply you at extraordinary low prices. -Ferndale church, near Catasauqua, was thronged last Saturday evening by an audience eager to hear the funny lecture on " Courtship and Marriage," by the Rev. James A. Little. This lecture pleases all classes, old and young, rich and poor, Protestants, Catholics add Jews. -For boots, shoes or rubbers, of the finest makes, call on T. D. Clauss. You will find an immense stock to select from, at lower prices than ever before offered. -Transparent drawing slates for children, handsome assortment of papetries, 2 yard wide window shades for $1 and other articles equally cheap, at Luckenbach's, near Broadway House, Mauch Chunk. -All medicines warranted fresh, genuine and unadulterated at the People's Drug and Family Medicine store. A. J. Durling, Proprietor. -Do you need a fall and winter suit of clothes, made up in the latest and most durable manner ? then go to T. D. Clauss, the merchant tailor, on Bank street, and be "fitted." Prices lower than ever. -Clocks and Watches carefully repaired, and work warranted, at lowest cash rates, at Hageman's cheap cash store, opposite public 44-13. square, Weissport. -See cherubims in another column holding a bunch of grapes from which Speer's Port Grape Wine is made, that is so highly esteemed by the medical profession for the use of invalids, weakly persons, and the aged. -Blankets and Buffalo Robes very cheap for cash, at Gabel's Hardware store, Le highton.

15. November 20, 1878 Juniata Sentinel and Republican Mifflintown, PA
Article from Juniata Sentinel and Republican, November 20, 1878

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STATE ITEMS. Wilkesbarre's city treasury is empty. Governor Geary, is to have a monument. Scarlet fever is unusually fatal in Clarion county. The State Grange meets at Bellefonte December 10. Great activity prevailsin all car shops in the State. All the steel works in Pittsburg are running double turn. indmille are again becoming a popular power ID some regions. The second Paxton Furnace, near Harrisburg has just blown in after a rest of over four years. Arrangements are being made to cut immense quantities of logs in the Clearfield lumber region this winter. An Evangelical minister has been arrested at Franklin for obtaining money under false pretenses. Eighteen butchers have been arrested in Lancaster for violating an ordinance which forbids them from selling meat on the curbstone stands in less quantities than by the quarter. Indiana county is excited over frauds perpetrated in the recent elections that have not fully developed. In Erie beef sells for four cents a pound, and a fine gobbler can be ob. tained for one dollar. Frank Fluegel and Peter Wingerter, two very young men, of Erie, married sisters just for fun and because they were too drunk to know any better. They are now in jail for neglect to support their wives. Representative-elect Gilland, of Blair county who went to Harrisburg last week to pick out his seat, says that nearly all the seats were selected before elected. The oysters now carried northward over the Northern Central railroad will average 300,000 pounds daily. The pupils of a school in the Second ward, Lock Haven, contributed the amount of a doctor's bill for dressing a broken finger of a schoolmate. Mahanoy City had a terrible acci. dent on Saturday. Superintendent OIhausen, of the Mahanoy division, had just left his little car. the "Germ," when the boiler exploded. Frank Boscius, engineer; Jacob Trout, foreman of coal trains, and Willie Wenrich, George Hagenbuch and Calvin Lutz, boys, were killed. Several people were injured. Miss Cora Johnson, who lives near Sagers Bridge, in Chester county while driving to her home from the railroad was stopped by highwaymen and robbed. Friday night a week a number of of men knowing that Mr. T. H. Baker, a merchant of Hollisterville, Luzerne county, had received a large amount of money that day, set fire to one of his barns, and while be was at the fire ransacked the house for the money. The owner had given it to a friend to take to Seranton for deposit in a bank. Two young men were captured near Petrolia, on Saturday a week, who had stolen beeves in their posession. For some time past cattle have been stolen in Venango and driven into Armstrong and Clarion counties, where they are disposed of. The capture of Saturday it is thought will break up an organized gang of cattle thieves. The Conneil of ilkesbare has or. dered that $6,500 of that city's money be invested in United States four per cent. bonds for its sinking fund. The First National Bank of Tamaqua Pa., which suspended payment on the 4th of October last, resumed business on Saturday. William Doyle, at the Holidaysburg Furnace, on Saturday a week, was literally beaten to death by which a heavy iren flue was being raised in place, but which was wrenched from the hands of those turning it. A mad bulldog suddenly appeared in the little village of Leiperville; Delaware county, on Monday afternoon a week. All but a little child, who was playing in the street, got out of the animals way. She was badly bitten in the leg. About twenty dogs belonging in the village were bitten, and some of them have since died. The dog disappeared as suddenly as it came. The boy Schaubuht, who was shot by young Deitz a few days ago at Beaver Falls, died on Saturday night. Dietz has been committed to answer the charge of murder.