21940. Shenandoah County Bank (Woodstock, VA)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
March 21, 1885
Location
Woodstock, Virginia (38.872, -78.517)

Metadata

Model
gpt-5-mini
Short Digest
86560d57

Response Measures

None

Description

Bank suspended March 21, 1885 because of irregularities/shortage (~$29,000). Stockholders agreed to make good deficiency and directors negotiated a loan; bank resumed operations within days (reports Mar 26–27, 1885). No article describes a depositor run prior to suspension.

Events (2)

1. March 21, 1885 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Irregularities discovered in the books; reported shortage about $29,000; suspension ordered pending investigation.
Newspaper Excerpt
On account of irregularities in the statements discovered since the bank closed on yesterday, that business of the bank be suspended until a thorough investigation can be made
Source
newspapers
2. March 27, 1885 Reopening
Newspaper Excerpt
the president, in company with two of the directors, have been to Baltimore to negotiate a loan, and we are informed that they have been successful and that the bank will resume business to-day.
Source
newspapers

Newspaper Articles (10)

Article from The Dallas Daily Herald, March 22, 1885

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Fathures. A BANK IN VERGINIA SUSPENDS. Harrisonburg, Va., March 21.-The Shenandoah County bank, at Woodstock, Virginia, suspended payment. The shortage will reach about $29,000. Depositors lose nothing, the stockhold. ers making good the deficit.


Article from Alexandria Gazette, March 23, 1885

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VIRGINIA NEWS. There was a heavy fall of snow in the southeastern part of the State yesterday. The Shenandoah County Bank, at Woodstock, has suspended payment. The shortage will reach about $29,000. The depositors will lose nothing, the stockholders making good the deficiency. The R. E. Lee Camp of Confederate Veterans, at Richmond have tendered their hearty sympathies to Gen. Grant in his severe affliction, and hope that he may, by Divine Providence, soon be permitted to regain bis health and to pass his remaining years in peace and happiness. The will of the late John Stewart, of Henrico county, has been admitted to probate. The property disposed of by the will is probably worth $650,000. Half of the income of the property goes to his widow, the other half to his seven children, and at the death of his widow the whole property passes 10 the children. His sons-in-law, Joseph Bryan and Thomas Pinckney, and his brother, Daniel K. Stewart, are named as executors. A fire in Petersburg yesterday morning destroyed the sumac mill of W. N. Jones & Co. The loss on building and stock will probably reach $20,000. The flames communicated to the large flour mill cf the City Mills Company adjoining, and it was also destroyed. The flour mill was purchased some years ago at a cost of $35,000,and improvements costing $25,000 more in repairs and introduction of new machinery. &c., were made. The insurance is about $20,000.


Article from Iron County Register, March 26, 1885

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CONDENSED TELEGRAMS. CHICAGO was visited by a disastrous conflagration on the 21st, in the burning of the Langham Hotel. Several lives were lost. THE Shenandoah County Bank, at Woodstock, Va., has suspended. THE fourth Italian flotilla for the Red Sea was about to start on the 22d. HEAVY snow drifts were reported in some of the Eastern and Middle States on the 21st. THE French remain practically in a state of siege at Kee Lung. THE paper of Oliver Bros. & Phillips, of Pittsburgh, Pa., has been signed by all the credito's, and they will resume. IT is reported that the Prime Minister of Russia has resigned. ATTORNEY-GENERAL GARLAND has cut down the force of examiners in the Department of Justice. REPORTS that China has made overtures for peace are discredited in Paris. THE Continental Sugar Refinery storehouse at South Boston with 10,000 barrels of sugar burned on the 21st. IN a collision at Lockport, N. Y., on the 21st, an engine and filteen freight cars were wrecked and set on fire. Six bundred men are thrown out of employment by the shutting down of nail mills at Pottstown, Pa. ON his march up the Nile the Mudir of Dongola is being joined by many friendly Arabs. THR Delaware River at Easton, Pa., was frozen from shore to shore, on the 21st, the first time during the season. A LARGE portion of the State Capitol building at Trenton, N. J., was burned on the 21st. The chancery records were destroyed. THE British will send a powerful fleet to the Baltic within a few days it the necessity arises. POSTMASTER-GENERAL VILAS has called for the resignations of a number of Postoffice Inspectors in order to reduce (Xpenses. A RUSSIAN military organ declares that the English must be cleared out of the Turcoman Territory. GENERAL GRANT receives about twenty applications a day for his autograph, but it IS a physical impossibility for him to comply with the request. OF the present members of the British House of Commons it .S said that almost half will decline to stand for re-election. GENERAL HATCH telegraphed CO Washingtoniou the 21st that about 500 boomers were congregating at Coffeyville, Kas., with the intention of moving into the territory. His troops will meet them. GENERAL GRAHAM has received thepipeline apparatus necessary to faru.sh his army with a full water supply during the march to Berber.


Article from Alexandria Gazette, March 26, 1885

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VIRGINIA NEWS. Mrs. Ann Bell, wife of Major H. M. Bell, of Staunton, suddenly Saturday. R. J. Farrar, of Orange county, has lost within the last six weeks 250 old sheep and 100 lambs from eating ivy. The Shenandoah County Bank, at Woodstock, which suspended business last week, will resume operations in a day or two. The Staunton Spectator favors the nomination of Gen. Fitzhugh Lee as the democratic candidate for Governor of Virginia. The new astronomical observatory of the University of Virginia will be opened with 'appropriate ceremonies early next month. A public meeting to aid in the improvement and extension of the Washington, Ohio and Western Railroad, is to be held at the Court House, in Leesburg, at 2 o'clock, on the 31st instant. Col. E. B. Tucker, a prominent citizen of Brunswick county, died last Monday, aged 73 years. He was one of the largest land owners in the Southside, leaving an estate of nearly eight thousand acres. Two spans of the trestling at Dry Run, on the Shenandoah Valley Railroad, were destroyed by fire yesterday. Until the necessary repairs can be made passengers and baggage are being transferred. A Sovement is on foot for the general reorganization of the Shenandoah Valley Railroad Company. At a meeting of the heavlest holders of the bonds in Philadelphia on Monday, instructions were given for the appointment of a committee to examine the affairs of the road, and to determine what course should be adopted to insure the interests of the bondholders.


Article from The National Tribune, March 26, 1885

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for $758,127. The great grain sections of California are suffering from want of rain. A fourhours' shower last week has improved the prospects in the coast counties, but no rain has fallen in the interior, where the crops are in a critical condition. R. Fairbanks, the historian, of Florida, will deliver an oration at the celebration at St. Augustine, on March 27. of the landing of Ponce de Leon in 1512, and the founding of the city of St. Augustine 1565. Susan Warner, the novelist, died of paralysis Tuesday of last week at Highland Falls, N. Y., aged 68. She was the author of "The Wide, Wide World and other works. The report of the Canadian Minister of Agriculture shows that there has been a decrease of immigration to that country. The arrivals in 1884 were 103,824 as compared with 47,991 in 1881. The Minister points out that the figures of 1883, which were: 133,624, were the largest ever known, and that, therefore, the falling off, owing to temporary and explicable causes, is not alarming. The Shenandoah County Bank at Woodstock, Va. has suspended payment. The depositors will lose nothing, the stockholders making good the deficiency of $29,000. The State officials of West Virginia have made arrangements for removing the archives from Wheeling to the new State Capital at Charleston, May 1 next, on and after which day the latter city will be the capital of the State.The Robert E. Lee Camp of Confederate Veterans, Richmond, Va., have adopted a preamble and resolution tendering to Gen. Grant their hearty sympathy in his severe affliction, and the hope that he may regain his health. -Minneapolis and St. Paul are to be connected by an elevated railroad, work on which will be begun this Spring. The running time between the two cities will be cut down to 20 minutes. Armour and Co., of Chicago, recently received an order from the British Government for 5,000,000 cans of meat for the army in Egypt. To execute this order 70,000 head of cattle are required.


Article from South Branch Intelligencer, March 27, 1885

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son, who is a candidate for Collector of Internal Revenue. The entire party left for home on Tuesday, the 24th. It is stated that Dynε mite has thirtean times the force of gunpowder. The largest tree ever yet discovered in Calitornia, it is stated, has a trace. able height of 452 feet, and is 112 feet in diameter at the base. The Shenandoah County Bank, at Woc istock, Va., suspended payment on Friday "last. The shortage will reach about $29,000. The depositors will lose nothing, the stockholders making good the deficiency In all London there is said to be but a half dozen wooden houses. WM. ASEY, of New Orleans, a well known citizen, has just died from a cancer in the mouth, which was caused, his doctors certify, by excessive smoking. 7 The Secretary of the Navy has secured the services of WM. CALHOUN. a professional accountant of New York, for the purpose of having a thorough investigation made of the accounts and metho le of keeping them in every branch of the Navy Department. While on the roof of the Gibeon Hotel in Cincinnati recently, Mr Jo. SEPH BEHIMAN caught hold of the electric-light wire and was instantly killed by the shock. In the year 1884 dogs killed in West Virginia 2,189 sheep, valued at 6,568, and in the United States the make canine slew 143,120 head of sheep valued at $429,326 The ROW administration is troubled months much by the tearful supplications of the who do net want to go out, as by the demands of the outs who want to get in. Every office holder is on his knees begging for dear life.-Ex. A New York doctor says tobacco chewing is the cause of bald headedness. There are over thirty Mormon churches in Colorado. In Idaho there are over sixty; in Arizona about seventy. People who wonder why men's hair turns gray beforetheir whiskersshould reflect that there is about twenty years difference in their respective ages. England sent to the United States $2,084,780 worth of hardware and cutlery in 1883 and $1,611,220 worth last year. There are eighteen thousand veterans going through the world on wooden legs, who lost their limbs in the United Statescivil war. The last official act of the Arthur administration was the issuance of patents to 679,287 acres of land to the syndicate controlling the New Orleans and Pacific railroad. This was a dis. puted claim, which Congress has re. fused to confirm, and it was a plain. downright steal of about $3,000,000 The matter will doubtless be inves. tigated. The steamer Louisana recently made the passage from New York to New Orleans in five days nine hours and fifteen minutes from wharf to wharf, the quickest trip on record. The yearly consumption of meats in the United States


Article from Shenandoah Herald, March 27, 1885

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SUSPENSION OF SHENANDOAH COUNTY BANK.-The following notice appeared on the door of the Shenandoah County Bank last Friday morning: "At a called meeting of the Board of Directors of Shenandoah County Bank, held Friday morning, March 20, 1875 ('85 undoubtedly intended), Resolved, On account of irregularities in the statements discovered since the bank closed on yesterday, that business of the bank be suspended until a thorough investigation can be made, which shall be done as speedily as possible, which will be made public. "By order of the Board. "B. P. NEWMAN, Prest." The investigation is still in progress, and at this writing we are unable to say what will be the outcome. The depositors will lose nothing; the deficiency, if there be any, will be assumed by the stockholders. The president, in company with two of the directors, have been to Baltimore to negotiate a loan, and we are informed that they have been successful and that the bank will resume business to-day. We have no comments whatever to make this week, as we are unable as yet to procure positive facts in relation to the suspension ; but we are as much inclined to believe that in the Directory, instead of the officials of the Bank, rests the responsibility, and if we are to judge of the inaccuracy of the figures on the inside by the inaccurate date of the notice of the suspension on the outside, we would say that the bank has "busted" instead of suspended.


Article from The Panola Weekly Star, March 28, 1885

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ON the 19th the Connecticut Monate, by A vote of 12 in the woman giving suffrage 5, rejected school House districts Mil are be in he deserving Mr. Manura him followers large numbers, reported and to is now encamped at Omdorman with about 2,000 men. THE Nt. James Gasette believes that peace between France and China can only be brought about by a complete cession of Tonquin to the French. IN a fight on the 20th, lasting five hours, between the British and Osman Digna's forces is the Houdan, the latter's position was captured, and the Arabs sustained great loss. THE Spaulding Iron Works at Steuben. ville, O., had to shut down because of the coal miners' strike, and 850 men are thrown out of employment. A BLUE BOOK has just been Issued at London, containing correspondence between Govern. a ments in the reference French to and rice English being declared contraband of war by the French IN executive session on the 20th the Sen. ate ratified the additional article of the Mexican treaty, extending until May 20th, 1886, the time for the approval of the laws necessary to carry into operation the com. mercial convention between the two Governments, concluded at Washington, Jan. uery 28th, 1883. ANOTHER coal mining company In Penusylvania employing 1,000 mon will shut down rather than pay the advance demanded. This will make 10,000 minors in that State out of employment. ON the 20th the Vice-President laid before the Senate a memorial of the Montana Legislature, stating that nearly all the public domain in Moutana is desert land, and protesting against the repeal of the desert land act. DURING the seven days ended the 20th there were 247 failures in the United States reported to Bradstreet's, against 250 in the preceding week, and 192 and 196 in the corresponding weeks of 1884 and 1883. THE Shenandoah County Bank, at Woodstock, Va., has suspended. ON the 22d the Fourth Italian flotilla for the Red Sea was about to start. VERY heavy snow drifts were reported in some of the Eastern and Middle States on the 21st. THE French forces remain practically in a state of siege at Kee Lung. THE extension paper of Oliver Bros. & Phillips, of Pittsburgh, Pa., has been signed by all the creditors, and they will resume. THE Prime Minister of Russia is reported to have resigned. THE rumor that China has made overtures for peace are discredited in Paris. BY the shutting down of nail mills at Pottstown, Pa., 600 men are thrown out of employment. AT Easton, Pa., the Delaware River was frozen from shore to shore on the 21st, the first time during the season. A POWERFUL British fleet will be sent te the Baltic within a few days If the necessity arises. A MUSCOVITE military organ declares that the English must be cleared out of the Turcoman Territory. IT is thought that nearly half of the present members of the British House of Commons will decline to stand for re-election. THE heaviest snow-stormexperienced in ten years raged at Fortress Monroe, Va., all day on the 22d. A LOSS of 198 killed and wounded was sustained by the French at Kee Lung in in the recent engagement. THE troops under Captain Dewees are on a sharp lookout for "boomers" said to have crossed over into Oklahoma from Arkansas and Texas. IT is said the Mahdi has sentenced many natives to death for not revealing treasure supposed to be hidden at Khartoum. THE New York communists celebrated : the fourteenth anniversary of the Paris commune with a ball and concert on the 22d. IN the recent battles near Suakim the 8 deaths among the British were caused 0 mostly by spear thrusts received in hand. to-hand engagements. ON the 22d German day was celebrated at the New Orleans Exposition. Large attendance. A congratulatory dispatch was sent to Emperor William. I Ox the 22d the Arabs suddenly attacked 0 the British near Suakim. The latters' loss was two officers and twenty-two men killed and thirty-three mon wounded, with f some of the reports not yet in. The Arabs lost very heavily.


Article from The Osceola Times, March 28, 1885

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A SCHEME is being agitated by the Canadian Pacific Railway Company to secure the of the Winaipeg & South. to build a branch to western, land grant the Turtle Mountain country in Dakota. followers are be him in large deserting EL MAHDI'S numbers, reported and to with he is now encamped at Omdurman about 2,000 men. THE St. James Gazette believes that between France and can be about by a of peace brought complete China cession only to the on the 20th, Tonquin IN a fight French. lasting five Digna's hours, British and Osman the the forces between in the Soudan, latter's sustained position was captured, and the Arabs great loss. THE Spaulding Iron Works at Steubenhad to shut down the coal and 350 men are ville, miners' O., strike, because thrown of out of employment. has just at London, A BLUE containing BOOK correspondence been issued beFrench and reference to rice a ments tween in the English being declared Governcontraband of war by the French. IN executive session on the 20th the Senratified the additional article of the Mexican extending ate treaty, until of May the 20th, laws 1886, the time for the approval necessary to carry into operation the comercial convention between the two Goveraments, concluded at Washington, January 28th, 1883. ANOTHER coal mining company in Penn1,000 men down than sylvania rather employing pay the advance will shut demanded. This will make 10,000 miners in that State out of employment. ON the 20th the Vice-President laid before a memorial tana stating ail the Legislature, Senate that of the nearly Monthe domain in against of land, public and protesting Montana the is repeal desert the desert land act. DURING the seven days ended the 20th 247 failures in the United States to Bradstreet's, the reported there were against and 1 6 250 in in the preceding week, and 192 corresponding weeks of 1884 and 1883. THE Shenandoah County Bank, at Woodstock, Va., has suspended. ON the 22d the Fourth Italian flotilla for the Red Sea was about to start. snow drifts were VERY heavy Middle reported States in some of the Eastern and on the 21st. THE French forces remain practically in a state of siege at Kee Lung. of & THE extension paper Oliver has Bros. been Phillips, of Pittsburgh, Pa., signed by all the creditors, and they will resume. THE Prime Minister of Russia is reported to have resigned. THE rumor that China has made overtures for peace are discredited in Paris. BY the shutting down of nail mills at Pottstown, Pa., 600 men are thrown out of employment. the D. laware River was shore to shore on the frozen AT Easton, from Pa., the 21st, first time during the season. A POWERFUL British fleet will be sent to the Baltic within a few days if the necessity arises. A MUSCOVITE military organ declares that the English must be cleared out of the Turcoman Territory. that nearly half of the members of the present IT is thought British House of Commons will decline to stand for re-election. THE heaviest snow-storm experience in ten years raged at Fortress Moaroe, Va., all day on the 22d. of 198 killed and wounded was A LOSS by Kee Lung sustained the French at in in the recent engagement. THE troops under Captain Dewees are on a lookout for "boomers" said to over into have sharp crossed Oklahoma from Arkansas and Texas. the Mahdi has many to death for not treasure natives IT is said revealing Khartoum. sentenced to be hidden at supposed THE New York communists celebrated anniversary of the Paris with a ball and on the commune fourteenth concert the 22d. recent battles near Suakim the deaths the British were IN the among caused mostly by spear thrusts received in handto-hand engagements. ON the 22d German day was celebrated at the New Orleans Exposition. Large attendance. A congratulatory dispatch was sent to Emperor William. ON the 22d the Arabs suddenly attacked near Suakim. The latters' loss two officers and the was British twenty-two wounded, with men killed and thirty-three men some of the reports not yet in. The Araba lost very heavily.


Article from Shenandoah Herald, January 29, 1886

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Woodstock, Va., Jan. 27, '86. At a regular meeting of the Board of Directors of Shenandoah County Bank, held Thursday, Jan. 21st, 1886. The following resolution reported and adopted. WHEREAS, Chas. W. Fravel, wasformerly acting as Teller of Shenandoah County Bank for years, and it became his duty as such to keep Seratcher, Check book and General Ledger. And, whereas Shenandoah County Bank suspended business, March 21st 1885, by reason of various irregularities apparent on the books of said Bank and an investigating committee was appointed to examine into said irregularities. And whereas the [report of said committee exhonerates the said Teller, and the investigation 80 far as proceeded with, shows that the duties of said Teller were satisfactory and efficiently discharged, and his books accurately and systematically kept. Resolved, That we, the Directors of Shenandoah County Bank, absolve and exhoner. ate Chas. W. Fravel, late Teller of the Bank, from all responsibility incident to our suspension as a Bank, or as being in anywise culpable in the discharge of his duties as said Teller. [Signed] B. SCHMITT, v. P. E. D. NEWMAN, Secy. To whom it may concern : The foregoing is a true and correct copy of resolution as standing upon records of this Bank. R. L. CAMPBELL, Cashier of Shenandoah Co. Bank.