20046. Merchants National Bank of West Virginia (Point Pleasant, WV)

View Charter #1504 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
1504
Charter Number
1504
Start Date
February 23, 1900
Location
Point Pleasant, West Virginia (38.845, -82.137)

Metadata

Model
gpt-5-mini
Short Digest
732310421dc45f9a

Response Measures

None

Receivership Details

Depositor recovery rate
85.1%
Date receivership started
1931-04-22
OCC cause of failure
Losses
Share of assets assessed as good
14.1%
Share of assets assessed as doubtful
1.8%
Share of assets assessed as worthless
84.2%

Description

Newspaper items show a chancery cause and a Special Receiver appointed for The Merchants National Bank of West Virginia, with court order dated February 23, 1900, and a receivers' sale advertised for April 5, 1900. No article describes a depositor run; the appointment of a receiver indicates the bank was suspended/closed and placed in receivership (permanent closure). OCR corrected minor spacing/typographical errors in the notices.

Events (5)
1. August 5, 1865 Chartered
Source
historical_nic
2. February 23, 1900 Receivership
Newspaper Excerpt
order of the Circuit Court of Mason County, West Virginia, made on the 23d day of February, 1900, in the chancery cause of The Merchants National Bank of West Virginia, at Point Pleasant ... W. M. DUFFY, Special Receiver.
Source
newspapers
3. April 5, 1900 Other
Newspaper Excerpt
I shall, on Thursday, April 5th, 1900, at 10:00 a. m., ... sell at public auction to the highest bidder ... Terms of Sale-Cash. W. M. DUFFY, Special Receiver.
Source
newspapers
4. November 5, 1929 Voluntary Liquidation
Source
historical_nic
5. April 22, 1931 Receivership
Source
historical_nic

Newspaper Articles (3)
1. March 14, 1900 The Weekly Register Point Pleasant, WV
Article from The Weekly Register, March 14, 1900

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Article Text

Special Receiver's Sale of Valuable Personal Property. Y virtue of the authority vested in me the undersigned Special Receiver, by an B order of the Circuit Court of Mason County, West Virginia, made on the 23d day of February, 1900, in the chancery cause of The Merchants National Bank of West Virginia, at Point Pleasant, a corporation V8 G. M. Newton and J. M. Hensley, partners doing business under the firm name of Newton & Hensley et al, I shall, on Thursday, April 5th, 1900, at 10:00 a. m., of said day, on the premises where the personal property hereinafter described is situated, to-wit: Near the Ohio River Railroad depot at Hartford City, West Virginia, sell at public auction to the highest bidder, the following described personal property, consisting of the following, to:wit: A planing mill, consisting of the following, pieces; to-wit: One 40 horse power boiler, Nagle make. One 85 horse power engine, Nagle make. One 24 inch planer and facing machine, J. A. Fay make. One 4-sided moulder, J. A. Fay make. One self-feed rip saw and edger. One swing cut-off saw. One jig and bracket saw. One emery machine. One grind stone with belts, shafting, pulleys and patent hangers and boxing. One lot of tools and appliances thereto, belonging. One frame building 40x62 feet. This is very desirable machinery and in good condition Terms of Sale-Cash. W. M. DUFFY, Special Receiver. J. B. MENAGER, Counsel.

2. March 21, 1900 The Weekly Register Point Pleasant, WV
Article from The Weekly Register, March 21, 1900

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Article Text

Special Receiver's Sale of Valuable Personal Property. Y virtue of the authority vested in me the undersigned Special Receiver, by an B order of the Circuit Court of Mason County, West Virginia, made on the 23d day of February, 1900, in the chancery cause of The Merchants National Bank of West Virginia at Point Pleasant, a corporation V8 G. M, Newton and J. M. Hensley, partners doing business under the firm name of Newton & Hensley et al, I shall, on Thursday, April 5th, 1900, at 10:00 a. m., of said day, on the premises where the personal property hereinafter described is situated, to-wit: Near the Ohio River Railroad depot at Hartford City, West Virginia, sell at public auction to the highest bidder, the following described personal property, consisting of the following, to-wit: A planing mill, consisting of the following pieces, to-wit: One 40 horse power boiler, Nagle make. One 35 horse power engine, Nagle make. One 24 inch planer and facing machine, J. A. Fay make. One 4-sided moulder, J. A. Fay make. One self-feed rip saw and edger. One swing cut-off saw. One jig and bracket saw. One emery machine. One grind stone with belts, shafting, pulleys and patent hangers and boxing. One lot of tools and appliances thereto, belonging. One frame building 40x62 feet. This is very desirable machinery and in good condition Terms of Sale-Cash. W. M. DUFFY, Special Receiver. J. B. MEN AGER, Counsel.

3. April 4, 1900 The Weekly Register Point Pleasant, WV
Article from The Weekly Register, April 4, 1900

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Article Text

mar7-1w Special Receiver's Sale of Valu able Personal Property. Y virtue of the authority vested in me the undersigned Special Receiver, by an B order of the Circuit Court of Mason County, West Virginia, made on the 23d day of February, 1900, in the chancery cause of The Merchants National Bank of West Virginia at Point Pleasant, a corporation vs G. M. Newton and J. M. Hensley, partners doing business under the firm name of Newton & Hensley et al, I shall, on Thursday, April 5th, 1900, at 10:00 a. m., of said day, on the premises where the personal property hereinafter described is situated, to-wit: Near the Ohio River Railroad depot at Hartford City, West Virginia, sell at public auction to the highest bidder, the following described personal property, consisting of the following, towit: A planing mill, consisting of the following pieces, to-wit: One 40 horse power boiler, Nagle make. One 35 horse power engine, Nagle make. One 24 inch planer and facing ma chine, J. A. Fay make. One 4-sided moulder, J. A. Fay make. One self-feed rip saw and edger. One swing cut-off saw. One jig and bracket saw. One emery machine. One grindstone with belts, shafting. pulleys and patent hangers and boxing. One lot of tools and appliances thereto, belonging. One frame building 40x62 feet. This is very desirable machinery and In good condition Terms of Sale-Cash. W. M. DUFFY, Special Receiver. J. B. MEN AGER, Counsel. STATE OF WEST VIRGINIA, COUNTY OF MASON, SS: I, R.E. Mitchell, Clerk of the Circuit Court in and for the ounty and State aforesaid, do certify that bond In the penalty of $1500.00 has been given before me as required in the proceedings in the above entitled cause. R. E. MITCHELL, Clerk. feb28-4w