National Bank - Martinsburg, WV

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 1524
Charter Number: 1524
Start Date: March 27, 1902
Location: Martinsburg, West Virginia (39.456, -77.964)

Metadata

Model: gpt-5-mini
Short Digest: f76dd792

Response Measures

None

Description

Article (Mar 27, 1902) states the stockholders decided to go into voluntary liquidation; the bank will be succeeded by the Old National Bank of Martinsburg and the books will be closed April 15. No run or depositor panic is mentioned; this is a voluntary suspension leading to closure and successor organization.

Events (3)

1. August 12, 1865 Chartered

Source: historical_nic

2. March 27, 1902 Suspension

Cause: Voluntary Liquidation
Cause Details: Stockholders unanimously decided to go into voluntary liquidation; bank to be succeeded by a new institution and books closed April 15.
Newspaper Excerpt: The stockholders of the National Bank of Martinsburg, the oldest banking institution in this section, have unanimously decided to go into voluntary liquidation. The National Bank will be succeeded by a new banking institution to be known as the Old National Bank of Martinsburg. The books of the present bank will be closed April 15.
Source: newspapers

3. May 31, 1902 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. March 27, 1902 Shepherdstown Register Shepherdstown, WV

Article from Shepherdstown Register, March 27, 1902

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Article Text

Notes From Nearby. Jacob R. Edmonds, well known in this section, has moved from Sharpsburg to Hagerstown. Miss Florence Gloss and Mr. Herbert Gloss, both of Sharpsburg, were married in that place last week. Eugene Davis, a prominent young mar of Leesburg, Va., was accidentally killed while riding in a fox hunt on Monday. He was 21 years of age. Dr. Page D. Barlow, who has practiced medicine in Martinsburg for four years, has turned his practice over to Dr. J. E. Sponseller, of Harper's Ferry, who has located in Martinsburg. Henry Holzapfel, Jr., Republican, was elected mayor of Hagerstown Monday, defeating E. M. Schindel, Democrat and present encumbent, by a plurality of 104. The Democrats elected John H. Bitner and E. B. Munson to the council, making it stand as before. Howard Gould, the New York millionaire, has just leased the Castle, the romantic cottage of Mrs. Rose Pelham, at Berkeley Springs, and it is said will occupy it this summer. The Castle is built among the crags of Warm Spring Mountain and overlooks Berkeley Springs. It has the appearance of an ancient castle, with turrets. The Washington and Southwestern Limited train on the Southern Railroad was wrecked near Charlottesville, Va., by running into a landslide early last Sunday morning. Two trainmen were killed and thirteen persons were hurt. The train, which was an elegant® one, was almost entirely destroyed by fire that olowed, and several tons of mail was burned. The stockholders of the National Bank of Martinsburg, the oldest banking institution in this section, have unanimously decided to go into voluntary liquidation. The National Bank will be succeeded by a new banking institution to be known as the Old National Bank of Martinsburg. The books of the present bank will be closed April 15. The capital stock of the new bank is to be $100,000, the same as that of the National. The stock is to be sold at $130 per share, par value $100. The stockholders of the present organization are to be paid $170 per share for their stock, and the new bank will start in business with a surplus of $1,200. The bank which is to soon go out of existence was organized in 1865.