21927. Bank of Waynesboro (Waynesboro, VA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 21, 1891
Location
Waynesboro, Virginia (38.068, -78.889)

Metadata

Model
gpt-5-mini
Short Digest
e01c958f

Response Measures

None

Description

Bank of Waynesboro (a private institution owned by Rosenberger & Shirley) suspended payment on/around 1891-12-21 due to tightness of the money market. A deed of assignment to trustees was filed Dec 23 (assignment dated Dec 21), indicating a permanent closure/insolvency rather than a temporary suspension. No explicit depositor run on this specific bank is described in the articles (others nearby experienced runs), so classify as suspension leading to closure/receivership.

Events (3)

1. December 21, 1891 Suspension
Cause
Macro News
Cause Details
Articles repeatedly state suspension was owing to the tightness of the money market and cite tight money / all private institutions and tight money the cause.
Newspaper Excerpt
Owing to the tightness of the money market the Bank of Waynesboro has suspended payment. No statement has yet been issued, but it is not thought that the depositors will lose anything.
Source
newspapers
2. December 23, 1891 Other
Newspaper Excerpt
A deed of assignment from Rosenberger & Shirley, proprietors of the Bank of Waynesboro ... was entered for record last night ... conveys to the trustees all of the property ... for the benefit of their creditors. The assignment is dated December 21st.
Source
newspapers
3. December 23, 1891 Receivership
Newspaper Excerpt
A deed of assignment from Rosenberger & Shirley ... to Vernon H. Ford ... and C. W. Bennick ... was entered for record ... The assignment is dated December 21st.
Source
newspapers

Newspaper Articles (11)

Article from New-York Tribune, December 22, 1891

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BANKS CLOSE THEIR DOORS. Roanoke, Va., Dec. 21.-The - Pledmont Bank at Gerdonsville and the Bank of Waynesboro closed their doors to-day. They are controlled by the same people, Posen. berger, Shortley & Shindle, who also have banks at New. Market and Warrentos. Pittsburg, Dec. 21.-A "Chronicle-Telegraph" Altoona. Penn.. dispatch says: 'The Tyrone Bank, a private institustion, failed to open its doors this morning. The failure was a great surprise. The assets and liabilities are not known. An uneasy feeling prevails. and it is feared that a run on the other two banks will follow."


Article from Richmond Dispatch, December 22, 1891

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Waynesboro's Bank Suspends. (Special telegram to the Dispatch.] WAYNESBORO', VA., December 21. -Owing to the tightness of the money market the Bank of Waynesboro" has suspended payment. No statement has yet been issued, but it is not thought that the depositors will lose anything.


Article from The Roanoke Times, December 22, 1891

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STAUNTON, Va., Dec. 21.-[Special]-Private banks at Waynesboro, Gordonsville, Warrenton and New Market, Va., all suspended today. Shirley & Rosenberger were the owners of the Waynesboro and Now Market banks and were associated with C. F. Myers at Gordonsville and Spillman at Warrenton. RICHMOND, Va., Dec. 21.-|Special]A special from Waynesborosays: Owing to the tightness of the money market the Bank .of Waynesboro has suspended payment. No statement has yet been issued, but it is not thought that depositors will lose anything. The bank of Waynesboro is a private institution and not a chartered one. Rosenberger and Shirley are proprietors. The were rated in mercantile directories at $75,000 to $100,000. They had branches at Basic City, New Market, Warrenton and Gordonsville. The suspension was talked about in Richmond financial circles, but it did not make much impression. The banks at Warrenton and Gordsonville, also controlled by these parties, have closed their doors. Telerrams were received in the city yesterday announcing that the Piedmont Bank at Gordonsville, and the Bank of Waynesboro at Waynesboro, had closed their doors. The amounts of assets and liabilites were not stated. As the gentlemen owning these banks are also interested in banks at New Market, Warrenton and Leesburg there was considerable anxiety to know if they were seriously affected bv the failures at Gordonsville and Waynesboro, but the representative of THE TIMES was unable to gather any reliable information. Messrs. W. M. Yager & Co. will lose a small amount by the failure of the Gordonsville bank. So far as learned, they are the only Roanokers who had a deposit there. About three wooks ago Mrs. Conrad, a widow lady residing in this city. informed Mr. Yager thatshe had $5,000 on deposit in the Piedmont Bank. He advised her to withdraw it at once and place it in the First National Bank, of Roanoke, the Farmers' National of Salem, or some other national bank, as any of this character would be perfectly safe. She gave the Farmers' National a check for the amount and after some delay it was honored.


Article from Rock Island Daily Argus, December 22, 1891

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What Makes 'Em All Suspend. WAYNESBORO, Va., Dec. 22.-Owing to the tightness of the money market the bank of Waynesboro has suspended payment. No statement has yet been issued, but it is not thought that depositors will lose anything.


Article from Daily Tobacco Leaf-Chronicle, December 23, 1891

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NEWS IN BRIEF. A Condensation of Interesting Items on Various Subjects. Emperor Francis Joseph has the grip. Walt Whitman, the poet, is said to be dying. The bank of Waynesboro, Va., has suspended. At Shamokin, Pa., two boys were drowned while skating. Mrs. Sarah Ferguson died Monday at Franklin, Ind., aged ninety-six. At Lima, O., Bert Urich fell from a freight and was ground to pieces. A. E. Antrom, fell from an electric car in Cincinnati and was decapitated. The Tyrone (Pa.) bank suspended, owing to a heavy drain upon its resources, Fire at Albrightsville, W. Va., destroyed the historic 115-year-old dwelling of John C. Crane. Unknown man was found murdered on the bank of the Mississippi, at Wickliffe, Kentuky. The Rev. E. A. Stafford, one of the most prominent Methodist clergyman of Can ada, is dead. Taylor Brothers' elevator burned at Camden, N. J. Loss on building and contents $28,000. Father Kroeger, of Elkhart, Ind., has skipped out, leaving creditors to the amount of $17,000. It is probable that the acreage of cotton will be considerably reduced in order to raise the price of cotton. William Embry, a distiller of Silver Creek, Ky., suicided by shooting. He had been a hard drinker for years. Thomas H. Allen & Company, Memphis cotton factors, have failed. Liabilities, $544,000; assets about two-thirds. Chinese advices state that about 1,000 Christians have been massacred by the recent disturbances in narthern China. At Junction City, near Danville, Ky., James Grisham, aged thirteen, caught his foot on the track and was run over and killed. Monday the treasury balance was $32,918,603, the lowest point reached since the new form of stating the balance was adopted. One James Perry, claiming to be from Cincinnati, has, it is alleged, duped several Louisville people out of considerable sums of money. Russell Sage has again been threatened by a bomb. Saturday night the Sage household was disturbed by a violent ring of the bell A servant on opening the


Article from The Morning News, December 23, 1891

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BANKS FAIL. All Private Institutions and Tight Money the Cause. STAUNTON, Va., Dec. 21.-The private banks at Waynesboro, Gordonsville, Warrenton and Newmarket, Va., all suspended to-day. Shirley and Posenberger were the owners of the Waynesboro and Newmarket banks, and were associated with C. F. Myers at Gordonsville and Mr. Spillman at Warrenton. TIGHT MONEY THE CAUSE. RICHMOND, va., Dec. 21.-A special from Waynesboro, Va., says: "Owing to the tightness of the money market the bank of Waynesboro has suspended payment. No statement has yet been issued, but it is not thought that the depositors will lose anything. The bank of Waynesboro is a private institution and not a chartered one. Rosenberger & Shirley are the proprietors. They were rated in the mercantile directories at $75,000 to $100,000. They had branches at Basic City, Newmarket, Warrentown and Gordonsville." The suspension was talked about in Richmond financial circles but it did not make much impression. The banks of Warrentown and Gordonsville, also controlled by these parties, have closed their doors. AN ALTOONA BANK FAILS. PITTSBURG, Dec. 21.-A special to the Chronicle-Telegraph from Altoona, Pa., says: "The Tyrone bank, a private institution, failed to open its doors this morning. The bank has always been regarded as sound, and the failure was a great surprise. The amount of the assets and liabilities are not known. An uneasy feeling prevails and it is feared that a run on the other two banks will ensue."


Article from The Roanoke Times, December 24, 1891

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THE TIMES commends City Engineer Dunlap for putting a stop to the disgracefully bad work on Fran klin road. WUERZBURGER. V. B. Co. THE BROKEN BANKS. Rosenberger & Shirley File a Deed of Assignment at Staunton. STAUNTON, Va., Dec. 23.-[Speciall-A deed of assigment from Rosenberger & Shirley, proprietors of the Bank of Waynesboro, the Iron Cross Bank at Basic City and a bank at Now Market, to Vernon H. Ford, of Luray, and C. W. Bennick, of New Market, as trustees, was entered for record last night in the office of the clerk of Augusta county. The document, which is a voluminous one, conveys to the trustees all of the property, real and personal, owned by the assignors as a firm or as individuals, for the benefit of their creditors. The property and its location is described, but no definite estimate of either the amount of liabilities or assets. The creditors are divided into two classes. First, the personal creditors of the firm or of the members as individuals, are secured; second, the depositors of the banks named and all other creditors share pro rata in what remains after the preferred claims are satisfied. The deed is signed by A. Rosenberger and S. P. Shirley, composing the firm. In the deed the assignors disclaimed any ownership in either the Piedmont Bank, of Gordonsville, or the bank at New Market, asserting that they have transferred, some time previous to their assignment, all their interest in the bank at Gordonsville to C. F. and George A. Myers, and in the Warrenton bank to C. W. Rosenberger. Nevertheless the names of both Rosenberger and Shirley appear to the public on the checks and other paper of both of these banks. This leaves the affairs of Rosenberger and Shirley at New Market, the Bank of Wanesboro and the Iron Cross Bank to be pooled. A. R. Rosenberger and S. P. Shirley who constitute the firm, each transfers (as they claim) all their undivided property, but in the case of S. P. Shirley there are special preferences to his close relatives, which nearly, if not quite, cover the value of his property. In the case of A. R. Rosenberger there is little property assigned, with some preferences. The signature of Rosenberger's wife does not appear in the deed. Shirley is unmarried. H. H. Spindle goes to Waynesboro tonight, and C. F. Myers is there now. Mr. Rosenburger has not been to Waynesboro since the assignment. He left for Luary Saturday afternoon, the 19th. The assignment is dated December 21st. He is thought to be still there. It seems that the bank at Warrenton was the first to closed its doors. About 2:45 o'clock Saturday afternoon checks were presented there, for the payment of which there was not enough currency on hand. H. A. Spindle, who had just arrived, stated to depositors that he could not receive money, and about the hour named closed the doors. Then the Piedmont Bank at Gordonsville, Rosenberger, Shirley & Co., at New Market. the Bank of Waynesboro and the Iron Cross Bank of Basic city followed suit. The Wayneshoro bank did not close its doors until Monday morning, or rather did not open them that morning.


Article from Shepherdstown Register, December 25, 1891

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Highest of all in Leavening Power.-U. S. Gov't Report, Aug. 17, 1889. Baking Powder Royal ABSOLUTELY PURE Notice. A special from Waynesboro, Va., says: "Owing to the tightness of the money market, the Bank of WaynesAll members of Caledonia Lodge No. boro has suspended payment. No I.O. O. F., are requested to be presstatement has yet been issued, but it on December 31st, as business of is not thought that the depositors importance is to be transacted. will lose anything. The bank of E. T. LICKLIDER, Secly. Waynesboro is a private institution and not a chartered one. Rosenberger & Shirley are the proprietors. They were rated in the mercantile diCHRISTMAS rectories at $75,000 to $100,000. They had branches at Basic City, Newmarket, Warrenton and Gordonsville. -ISThe banks at Warrenton and Gordonsville, also controlled by these parties, have closed their doors. DRAWING NEAR!


Article from Daily Tobacco Leaf-Chronicle, December 25, 1891

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NEWS IN BRIEF. A Condensation of Interesting Items on Various Subjects. Emperor Francis Joseph has the grip. Walt Whitman, the poet, is said to be dying. The bank of Waynesboro, Va., has suspended. At Shamokin, Pa., two boys were drowned while skating. Mrs. Saral Ferguson died Monday at Franklin, Ind., aged ninety-six. At Lima, O., Bert Urich fell from a freight and was ground to pieces. A. E. Antram, fell from an electric car in Cineinnati and was decapitated. The Tyrone (Pa.) bank suspended, owing to a heavy drain upon its resources. Fire at Albrightsville, W. Va., destroyed the historic 115-year-old dwelling of John C. Crane. Unknown man was found murdered on the bank of the Mississippi, at Wickliffe, Kentuky. The Rev. E. A. Stafford, one of the most pr ominent Methodist clergyman of Canada, is dead. Taylor Brothers' elevator burned at Camden, N. J. Loss on building and contents $28,000. Father Kroeger, of Elkhart, Ind., has skipped out, leaving creditors to the amount of $17,000 It is probable that the acreage of cotton will be considerably reduced in order to raise the price of cotton. William Embry, a distiller of Silver Creek, Ky., suicided by shooting. He had been a hard drinker for years. Thomas H. Allen & Company, Memphis cotton factors, have failed. Liabilities, $544,000; assets about two-thirds. Chinese advices state that about 1,000 Christians have been massacred by the recent disturbances in narthern China. At Junction City, near Danville, Ky., James Grisham, aged thirteen, caught his foot on the track and was run over and killed. Monday the treasury balance was $32,918,603, the lowest point reached since the new form of stating the balance was adopted. One James Perry, claiming to be from Cincinnati, has, it is alleged, duped several Louisville people out of considerable sums of money. Russell Sage has again been threatened by a bomb. Saturday night the Sage household was disturbed by a violent ring of the bell A servant. on onening the


Article from The Jasper Weekly Courier, January 1, 1892

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PERSONAL AND GENERAL. THE treasury balance, on the 21st, was $32,916,603, the lowest point reached since the new form of stating the balance was adopted. OWING to the tightness of the money market the bank of Waynesboro, Va., has suspended payment. It is not thought that depositors will lose anything. OVER fifty cadets and about twenty officers, being one-fifth of the whole number of cadets and officers of the naval academy at Annapolis, Md., are in the clutches of the grip. THE duke of Devonshire died in London, on the 21st, after a long illness. His successor in the peerage is the marquis of Hartington. A DISPATCH from Cairo says that Father Oherwalder and Sisters Catrina Chinearina and Elizabeth Venturini, who recently escaped from Khartoum, reaching Koroko, near Wady-Halfa, in safety. have now reached Cairo. Father Oherwalder and the two sisters mentioned formed part of the AustrianSoudan mission. who were made prisoners when Kardofan was captured by the rebels in 1889. ON the night of the 21st a banquet wasgiven at Delmonico's in New York city by the New York state commissioners of the World's fair-Chauncey M. Depew, John Boyd Thacherand Gorton W. Allen. Mr. Depew was chief host, and acquitted himself gracefully. Many notable public men were present. Speeches were made by Mr. Depew, Gen. Palmer, President Smith of the chamber of commerce and others. REV. ANDREW JONES, of New York, the preacher who prophesied the Johnstown (Pa.) flood, preached at New Bedford, Mass., on the 20th. During his sermon he predicted that another fearful disease would sweep over the country, following la grippe. LOUISE LEE Bayard, youngest daughter of ex-Secretary of State Bayard, was married. on the 21st, at her father's home. Delamore place, near Wilmington, Del., to Dr. Frank Angell, professor at Cornell university. THE Allegheny county (Pa.) grand jury, on the 21st, indicted Mayor Wyman of Allegheny City for embezzlement of city funds, two counts, and with the extortion in the matter of witness fees, two counts. Ex-Mayor Pearson was also indicted for embezzlement of city funds, two counts. Market Clerk Hastings of Allegheny City was also indicted for embezzlement of city funds, one count. MINISTER EGAN. on the 21st, officially requested the Argentine minister at Santiago, Chili, Senor Urriburn. to note the presence of Chilian police agents in the immediate vicinity of the American legation, as also the attempted arrest, on the night of the 19th, of Frank Egan, the American minister's son. JEROME I. CASE, Racine's (Wis.) foremost citizen, died on the morning of the 22d. He had been suffering for six weeks from diabetes. He was one of the best-known men in Wisconsin, and his phenomenal horse, "Jay-Eye-See," spread his fame all over the civilized world. Mr. Case was one of the largest manufacturers of threshing machines in the country. ALBERT JOHNSON kidnaped a 6-yearold adopted son of Mr. and Mrs. John Ellis. of Boston. on the 21st, and took him to Exeter. N. Y., where Johnson and a woman named Watkins were arrested and the boy recovered. It is believed the ooject of the kidnaping was to secure a ransom, as Ellis is wealthy. IT is stated with much positiveness that the president has decided to appoint ex-Congressman John H. Baker,


Article from Richmond Dispatch, March 24, 1892

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Offering a Compromise. [Correspondence of the Richmond Dispatch.] WAYNESBORO', Va., March 23.-Rosenberger & Shirley, proprietors of the bank bearing that name at New Market. the Bank of Waynesboro', and the Iron-Cross Bank, of Basic City, who assigned on the 21st of last December. are offering to make a settlement with their creditors at thirty cents on the dollar. to be paid in thirty days from the signing of the release, with security. It will probably be accepted.