National Bank & Trust Company (Boyertown, PA)

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Episode Information

Episode UID
213701291
Episode Type
Suspension β†’ Closure
Bank Type
national
Bank ID
21370 national
Charter Number
2137
Start Date
July 1, 1907*
Location
Boyertown, Pennsylvania

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
84d3f8520ad21b35

Response Measures

None

Description

The bank was closed by the Controller of the Currency in 1907 due to insolvency; it was also subject to the 1933 banking holidays.

Events (3)
1. March 3, 1874 Chartered
Source
historical_nic
2. July 1, 1907* Suspension
Cause
Bank Specific Adverse Info
Cause Details
The bank was found to be insolvent by a federal examiner.
Newspaper Excerpt
The Farmers National Bank, of Boyertown, Pa., was closed by order of the controller of the currency upon a report of Examiner Stanton, showing it to be insolvent.
Source
newspapers
3. March 4, 1933 Suspension
Cause
Government Action
Cause Details
State-wide banking holiday declared by Governor Pinchot.
Newspaper Excerpt
I hereby declare a bank holiday throughout Pennsylvania on Saturday, March 4, 1933, and Monday, March 6, 1933.
Source
newspapers

Newspaper Articles (3)
1. July 26, 1907 Perrysburg Journal Perrysburg, OH
Article from Perrysburg Journal, July 26, 1907

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Article Text

of Cox, of the Kentucky, state being by Instruction unable to will pro- be from retired court, duce Lieut. its witnesses. Col. the Charles army G. for Ayres physical disthe Ozarks at ability. While feudists the from Frisco running tracks at were fighting Mo., a on miles fast train, an hour, plowed Wilthe group, Stanton, the rate of 50 killing William of bank, ligs, into 23 years old. National closed by of Bank The Pa., was the currency Examiner the Boyertown, controller Farmers ordered upon by a report of showing National it men to be employed insolvent. Bingham thousand corporation the Pitteen United independent States mine Steel owners ranges on went the and Mesaba increase, of out Vermilion on a strike the and entire for a iron wage ore region. industry paralyzing the upper Lake of Superior the federal that court the Judge Memphis, McCall, Tenn., which decided returned the an federal at grand jury, counts against acting indictment Oil of 1,524 company, was the Joan within Standard Senora its Quesada, jurisdiction.nown of Arc, died, aged as 70 years. Cuban J. Williams, Wallihan, of Los of Angeles, Englewood, Cal., Cyrus and Cal., Fred have returned H. been by arrested the federal them upon indictments jury in Denver coal charging land frauds in with grand complicity in Col. the Glenwood Springs, held in Oakland a meeting voted unanimously protelegraphers' At accept the union terms of Union settlement and Posto by the Western The teleg- then work to receive raphers telegraph companies to posed tal Telegraph will return ccmpanies. arbitration will and discuss a both committee of affecting the telegAfter of the emperor of Korean troops and raphers. settle company matters Korea barracks had Many ab mutinied. dicated a escaped with the from Japanese. the both fought wounded on and sides were before killed and the revolt alias was Charles quelled. W. Anderson, William January, pardon a petition for the whose signatures to of President 50,000 was from the Roosevelt, was Fort containing persons at presented released Leavenworth, company Kan. was federal prison Southern Railway J. Green, The $30,000, and company, Thomas fined five of the at Raleigh, in the state tickets C., for that provided fined dollars N. ticket agent selling of railroad court uniform by at rate the a rate in excess for a mile of two and recent state one-fourth law cents a in Omaha, North Thomas Carolina. B. McPherson, of the of National to elected president association Livestock was James Exchange C. Swift, of Kansas county, heat, Adolph Mo. Ruegger, Ill., former committed which suiCity, succeed Madison owing to the intense sleeping. treasurer court of United prevented cide him from district a at In Cheyenne, the E. Wyo., E. States Lonabaugh, E. M. Holbrook, McPhil- promi- of a millionaire, and Robert man lamey, a were found nent attorney, well known business of conspiracy to defraud of coal lands in Kalil Haick, the he was government Sheridan, county. Said the that guilty United Syrian Sheridan States drago- go- of man, who announced Miss Elsie Ellwood, because ing to marry Ill., gave up his Miss plan Ellwood's of De the Kalb, opposition of Melfamily. It was announced York, by New President Haven & of the Railroad company engineer Stevens, former been len, Hartford New chief that appoint- John of F. Panama canal. had road. the the president of the Cruse, ed Midshipman a vice James F. at the of naval battleship Georgia, died He is the tenth hospital in Chelsea. result of the powder the explosion man to die, in as the a after turret of St. Georgia. damage to property done in Great and vicinity was rainstorm. by Joseph, Mo., and a terrific cellars a houses were away. Azzali, leader Capt. band, which lodge Mexican the El Paso, flooded companied Many washed tornado and August street wrecked, organization railway was Tex., drowned of tracks the ac- of J. while Elks to bathing Philadelphia, at White, Atlantic a pioneer City, N.J. bank- his Churchill of Kansas City, Mo., died He at former, home there, aged 82 years. of the National cial concern of that erly Bank was of Commerce, president the city. leading finanChirear-end collision on railway the at In a & Northwestern William Elliott cago Belle was Plaine, killed Ia., Engineer and a fireman was

2. March 4, 1933 Evening Star Washington, DC
Article from Evening Star, March 4, 1933

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Article Text

# EARLY U. S. ACTION # PLANNED ON BANKS New York and Illinois Declare Holidays-Only Four States Unrestricted. (Continued From First Page.) Connecticut took similar action, bring- ing to 43 the list of States in which restrictions on withdrawals are opera- tive in some form or another. Only Montana, Colorado, North Da- kota and South Carolina remained without restrictions at noon today. Delaware's banks were open, but the State Legislature has already taken emergency action. These developments had brought from Representative Rainey, the next Speaker of the House, the prediction that "an extra session of Congress will be called at the earliest possible time." He said he felt that early next week, possibly Tuesday, would not be too soon. Pre- viously Rainey had told House mem- bers-elect to remain in Washington. Others at the Capitol said the session probably would begin Wednesday. The Federal Reserve Bank of New York was closed with all other bank- ing institutions of that State. The Federal Reserve Bank at Philadelphia also closed, under a holiday declared throughout Pennsylvania by Gov. Pin- chot. Later in the day the Minne- apolis Federal Reserve Bank suspended business. The closing of the New York Federal Reserve Bank meant the tying up of its huge gold reserve for the period of the holiday against withdrawal by either domestic or foreign agencies. In discussing the banking relief pro- gram, Senator Robinson said: "We do not know just when it will be completed, but it will be expedited all possible. The details can not be announced right now but you may be assured there will be no delay." Wagner Plans Action, Previously Senator Wagner, Demo- crat, of New York, had told newspaper men he would carry immediately to Democratic leaders an appeal for imme- diate emergency banking moves. In- formed at his hotel here of banking moratoria in New York and Illinois. Wagner said he would appeal this morn- ing to Democratic leaders to begin working out a program and some time this afternoon would call on Mr. Roose- velt with the same objective. A bank holiday, he said, "is the only thing to do" to meet the emergency of the banks themselves, but he added quick steps are necessary to enable them to reopen and continue opera- tions. Harvey Couch, Democratic member of the Reconstruction Finance CorpoΠ³Π°- tion, was the first White House caller this morning. He said after a brief conference with President Hoover he had discussed "matters incident to the banking situation," but declined to give details. Couch conferred last night with President-elect Roosevelt. Officials in Conferences. High officials both of the outgoing Republican and incoming Democratic administrations were in conference most of the night. Secretary of the Treasury Mills said afterward the Hoover administration would have no statement, but that governors of the Federal Reserve banks in Chicago and New York would have announcements. Demands Impossible. The hours between midnight and dawn saw banking officials in many States struggling with the problem, made acute by the flurrying of nervous- ness on the part of depositors. As a statement by the New York Clearing House Committee put it: "The unthinking attempt of the pub- lic to convert over $40,000,000,000 of deposits into currency at one time is, on its face, impossible." The statement added that the condi- tion clearing house banks is such that "they could, through the facilities of the Federal Reserve Bank, pay on de- mand every dollar of their deposits," but that withdrawals throughout the country as a whole have increased so that a "halt" is necessary "to enable the proper authorities to consider and adopt remedies to meet this situation, not for New York primarily, but for the Nation as a whole." Only a few States remained today in which restrictions on withdrawals had not been invoked. No Holiday in Virginla. In Virginia, Gov. Pollard said no general banking holidays would be de- clared because the State's laws already protect the banks and their depositors. In Maryland, the General Assembly early today approved the emergency banking legislation without a dissenting vote in either House. Gov. Ritchie signed it this morning, but said that the banking institutions of the State will not reopen Monday. The resources of the Reconstruction Finance Corporation earlier had been made available to hard-pressed, but solvent banks in States that have imposed moratoria on withdrawals. This was one of a number of de- velopments yesterday that included introduction of legislation to allow postal savings checking accounts and to confer upon the incoming admin- istration sweeping authority to main- tain the security of deposits. Reconstruction Corporation officials said their policy called for lending in- stitutions if the loans were well secured enough money to pay the percentage of deposits that could be withdrawn, provided the banks did not have the funds immediately available. It was emphasized this was not a new departure, but was simply the ap- plication of regulations decided upon for individual instances in the past to a situation spread into a number of States. Pinchot's Statement. Gov. Pinchot of Pennsylvania here for the inauguration issued the follow- ing statement: "Because of the declaration of a bank holiday in New York, Illinois and most of the other States, similar action in Pennsylvania has become unavoidable. "Were our banks to remain open, the demands upon them would impose an impossible burden. "Therefore, upon specific recom- mendation of Gov. Norris of the Phila- delphia Federal Reserve Bank, I hereby declare a bank holiday throughout Pennsylvania on Saturady, March 4, 1933, and Monday, March 6, 1933." Exchange Statement. A statement issued by the Govern- ing Committee of the New York Stock Exchange said: "The Governing Committee at a meeting held this morning in order to give full effect to the banking holiday declared by the Governor of the State of New York directed: "First, that the exchange be closed during such holiday: "Second, that members and firms registered on the exchange be pro- hibited from making any contracts for the purchase or sale or the borrowing or lending of any securities, and also from permitting their offices or facili- ties to be used for the purpose of mak- ing or carrying out any such contracts; "Third, that all deliveries be suspend- ed on all member contracts, except on such contracts as may be cleared by or settled through the Stock Clearing Corporation, and that in such cases deliveries shall be made as the Stock Clearing Corporation shall direct

3. March 4, 1933 The Daily Courier Connellsville, PA
Article from The Daily Courier, March 4, 1933

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Article Text

GOVERNOR ORDERS TWO-DAY HOLIDAY FOR STATE BANKS By International Nows Service. PHILADELPHIA, March 4.-Governor Gifford Pinchot. from his temporary residence at Washington, D. C., today proclaimed mandatory twoday hollday for all Pennsylvania banks. The proclamation issued at 8:30 this morning through Dr. William D. Gordon, State Secretary of Banking, directs all banks in the Commonwealth to remain closed Saturday and Monday. George W. Norris, governor of the Federal Reserve Bank in Philadelphia at whose behest leading Philadelphia financiers assembled in the early Lours the morning to consider decisive action, said the step was made necessary by the growing list state bank holidays. Although it was believed Penneylvania banks could have remained open under the emergency legislation passed by the Legislature last Monday, of holidays by the governors of New York and Illinois and several other states early today precipitated the crisis, Norris explained. "Because of the declaration of bank holiday in New York, Illinois and other states similar action in Pennsylvania has become unavoidable," the Governor declared in his "Were our banks to remain open the demands on them would impose an impossible burden." "Therefore, on the specific recommendation of Governor George W. Norris of the Philadelphia Reserve Bank, hereby declare bank hollday throughout for Saturday, March 5, and Monday, March 6," the proclamation concluded.