First National Bank - Beckley, WV

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 6735
Charter Number: 6735
Start Date: January 23, 1908
Location: Beckley, West Virginia (37.778, -81.188)

Metadata

Model: gpt-5-mini
Short Digest: df7977ca

Response Measures

Accommodated withdrawals

Description

Article (Bluefield Evening Leader, 1908-01-23) reports a small run on the First National Bank of Beckley which the bank met and remained open. The run appears driven by panic related to the nearby Citizen Bank's troubles, not by misinformation about First National itself.

Events (3)

1. April 21, 1903 Chartered

Source: historical_nic

2. August 27, 1907 Voluntary Liquidation

Source: historical_nic

3. January 23, 1908 Run

Cause: Local Banks
Cause Details: Small run on First National triggered by panic/rumors stemming from the Citizen Bank of Beckley closing and related rumors about its cashier and reserves.
Measures: Met withdrawals; able to meet the run and remained open.
Newspaper Excerpt: The First National Bank had a small run, but it was able to meet it, and all danger is past so far as it is concerned.
Source: newspapers

Newspaper Articles (1)

1. January 23, 1908 Bluefield Evening Leader Bluefield, WV

Article from Bluefield Evening Leader, January 23, 1908

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Article Text

CITIZENS BANK STILL CLOSED BECKLEY INSTITUTION SOLVENT, BUT CANNOT RAISE MONEY. The Citizen Bank of Beckley, which closed its doors Tuesday, is still in the hands of Commissioner Matthews. The bank had on deposit about $260,000 and in the effort to accommodate its customers its funds were loaned pretty close. A little run last week brought its available cash below the legal reserve and the cashier went to Richmond Sunday where he got enough cash, as he thought, to tide them over. Rumors of his absence got afloat, however, wild stories were circulat and on Monday the run was renewed. The directors are trying to arrange matters so that the bank may resume. The First National Bank had a small run, but it was able to meet it, and all danger is past so far as it is concerned. Its deposits amount to over $600,000, and it is regarded as one of the strongest institutions in the state.