First National Bank (Bradford, PA)

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Episode Information

Episode UID
247001035
Episode Type
Run Only
Bank Type
national
Bank ID
24700 national
Charter Number
2470
Start Date
March 6, 1886
Location
Bradford, Pennsylvania (41.956, -78.644)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
49047cbf34605f46

Response Measures

Borrowed from banks or large institutions

Description

Run triggered by discovery of large embezzlement by clerks; bank met withdrawals with correspondent funds.

Events (3)
1. April 9, 1880 Chartered
Source
historical_nic
2. March 6, 1886 Run
Cause
Bank Specific Adverse Info
Cause Details
Discovery/arrest of clerks Thomas Christie and James (Horatio) King for embezzling roughly $50,000-$60,000, much lost in oil speculation, prompted withdrawals.
Measures
Met withdrawals by receiving $200,000 from the Seaboard Bank of New York.
Newspaper Excerpt
There was a slight run on the First National Bank to-day, which was promptly met by $200,000 from the Seaboard Bank of New-York.
Source
newspapers
3. March 2, 1918 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (11)
1. March 6, 1886 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, March 6, 1886

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Article Text

Bank Clerks Charged with Embezzlement. PITTSBURG March 5.-Thomas Christian and James King, clerks in the First National Bank of Bradford, Pa., have been arrested on a charge of embezzling $60,000 from that institution, most of which was lost in oil speculation. King had charge of the individual accounts and Christian of the correspondence and remittances. They went into collusion and invented an ingenious system of cooking the accounts, whereby drafts were issued on fictitious parties and credits made to appear much smaller than they really were. This has been kept up since last July. A large amount of currency has been laid by in anticipation of a run to-morrow. The young men are well connected. They are imprisoned in a hotel in Bradford, in default of bail. They have confessed to the cashier, and will assist in straightening the books. At the exchange yesterday 400,000 barrels of oil were bought in for their account.

2. March 7, 1886 New-York Tribune New York, NY
Article from New-York Tribune, March 7, 1886

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Article Text

RUN ON A DEFRA UDED BANK. BRADFORD, Penn., March 6.-There was a slight run on the First National Bank to-day, which was promptly met by $200,000 from the Seaboard Bank of New-York, The examination of the defaulters, Christie and King, was set for Thursday. Huntley and Johnson, under arrest, are prepared to defend themselves against the accusation of collusion with the clerks.

3. March 7, 1886 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, March 7, 1886

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Article Text

Run on a Bank. BRADFORD, Pa., March 6.-There was a slight run on the First National bank today. which was promptly met by $200,000 from the Seaboard bank, New York. The examination of the defaulters, Christie and King, was put over to Thursday. Huntley and Johnson, under arrest. are prepared to defend the accusation of collusion with the clerks.

4. March 7, 1886 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, March 7, 1886

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Article Text

Slight Run on a Bank. BRADFORD. Pa., March 6.-There was a slight run on the First National Bank to-day, which was promptly met by $200,000 from the Seaboard Bank, New York. The examination of the defaulters, Christie and King, was put over to Thursday. Hugtley and Johnson, who are under arrest, are prepared to defend the accusation of collusion with the clerks.

5. March 7, 1886 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, March 7, 1886

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Article Text

Run on a Bank. BRADFORD, Pa., March 6.-There was a slight run on the First National bank today, which was promptly met by $200,000 from the Seaboard bank, New York. The examination of the defaulters, Christie and King, was put over to Thursday. Huntley and Johnson, under arrest, are prepared to defend the accusation of collusion with the clerks.

6. March 8, 1886 The Daily Telegraph Monroe, LA
Article from The Daily Telegraph, March 8, 1886

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Article Text

BRADFORD, PA., March 8.-There was a slight run on the First National Bank Saturday, which was promptly met by $200,000 from the Seaboard Bank of New York. The examination of the defaulters, Christie and King, was put over to Thursday. Huntley and Sohnson, under arrest, are prepared to defend the accusation of collusion with the clerks.

7. March 8, 1886 The Argus Rock Island, IL
Article from The Argus, March 8, 1886

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Article Text

A Nice Lot of Thieves. BRADFORD, Pa., March 8.-Thomas Christie, aged 21, and Horatio King, age 20, clerks in the First National bank here have been arrested for embezzling $50,000 from that institution, most of which they lost in speculation. The bank will lose about $40,000. The balance of the deficiency can be realized. A large amount of currency has been laid in in anti ipation of a run. King and Christie confessed their crime to the cashier and are assisting him in finding fraudulent entries.

8. March 13, 1886 Huntsville Gazette Huntsville, AL
Article from Huntsville Gazette, March 13, 1886

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Article Text

LATE NEWS ITEMS. IT is said that a large number of Senators and Representatives have agreed to remain away from the President's official receptions unless they receive formal invitations to be present. A ST. LOUIS dispatch estimates that 9,000 Knights of Labor are in the strike*on the Gould system. PERBONIER, who fired a revolver in the French Chamber a few days ago, has been sent to a mad house. IT is.said that President Zimmerman, of the Chesapeake and Nashville road, reports that in conference with C.P. Huntington and associates it was decided not to build a bridge across the Ohio river. THERE was a slight run on the First Na. tional Bank of Bradford, Pa., on the 6th, which was promptly met by $200,000 from the Seaboard Bank of New York. ALL the Knights of Labor at St. Louis, to the number of 400, employed on the Gould system of railroads, struck on the 6th. U. S. SENATOR JOHN F. MILLER, of California, died at Washington on the 8tb. His remains will be taken to California for interment. THE House Committee on Pensions on the 8th agreed 10 report a bill to pension the surviving soldiers and sailors of the Mexican war. DAVID SNOW, a prominent citizen of Camden, Ark., committed suicide on the 8th. COMMISSIONER COLMAN reports unfavorably on LeDuc's South Carolina tea farm, and thinks it might better be abandoned. THE Mississippi Legislature has virtually abolished the office of Commissioner of Immigration. THE continued war preparations in Greece are exciting grave fears in the European cabinots. THE company of soldiers guarding the convict camp at the Greenwood mines, in Pulaski county, Ky., had a lively time on the night of the 8th. The miners o cupied the adjacent hills, and kept up a continued shooting all night. THE March report of the Department of Agriculture on the consumption and distribution of the grain crops makes the proportion of corn still in the hands of consumers 40 per cent. of the last crop. ON the night of the 9th twenty-five masked men quietly took Harry Wcodward, colored, out of jail at Russelville, Ky., and hung him to the same limb that be notorious Sambo Bailey was hung to AWO years ago. NOT a pound of freight has passed over the great bridge into or out of St. Louis since the employes of the Bridge and Tunnel Company struck.

9. March 13, 1886 The Panola Weekly Star Sardis, MS
Article from The Panola Weekly Star, March 13, 1886

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Article Text

ON the 5th eight of the Hyde Park (Los. don) rioters were contenced to penal ser. vitude for terms ranging from one to five years. THE total amount appropriated by the Naval bill as referred to the committee on naval affairs is $13,645,000. THE British Foreign office has consented to make room for a number of Turkish officers in the Kgyptian army, displacing British officers. ON the 7th A mass-meeting of Mormon women assembled at Halt Lake City oprotest against federal interference with polygamy. A CONFERENCE at Berlin has been proposed by the Russian Government to fix the terms of Bulgarian unity. THE Government suits against the Bell Telephone Company are expected to be be. gun this week, probably at Columbus, 0. THE State Department has received information that affairs are quiet on the Samoan Islands, and that the recent report of an attempt on the part of Germany to seize the islands arose from a purely private controversy between the German Con. sul and the local authorities. NEARLY eleven hundred employes of the Studebaker wagon and carriage works at Soath Bend, Ind., stopped work on the 6th on account of the refusal of the company to grant an increase in wages. ON the morning of the 6th the word of command was given, and nearly five hundred employes of the Missouri Pacille shops in St. Louis quit work. The order also called out the shop hands at all other points where shops of the Gould system are located. It was said that on the 8th the command would be made to include roadmen all along the system. THE permanent annexation of Burmah, under the sovereignty of Queen Victoria, has been proclaimed by Commissioner Bernard, granting general amnesty, except to notorious rebel leaders, Dacoits and murderers of Europeans. ON the 6th there WAS a slight run on the First National Bank of Bradford, Pa., which was promptly met. THE French Senate on the 6th adopted the Madagascar treaty. FIFTY Sioux Indian girls have recently entered the Wabash (Ind.) school. CONGRESSIONAL PROCEEDINGS. on the a was IN the Senate Government 2d employes petition from for for the law presented compensation Eight Hour over-time passed. put An increasing In amend- since ment was reported to the bill pensions. Debate on the Educational bill a concluded the session In the House bill.,WH8 reported extending the time for filing pension arrearage claims. The Con sular and Diplomat's Appropriation bill was reported. Mr. Bland Have notice of his Intention to Instat on the expedition of business untit the Silver bill could be reached. The Pension Appropriation bill was debated the balance of the day. IN the Senate on the 3d three messages from the President were laid before the Senate A petition was presente from elit. zens of New Jersey for National le rislation for protection o' young girls Also petitions of New York savings banks for a suspension of silver coinage A resolution was to adopted calling on Senators report the names of their private secretaries. The Educational bill was then taken up and debated In the House among bills reported from committees was one by Mr. Hatch to establish agricultural experiment nations. resolution was re. ported for an Investigation of the Pension Department The Pension Appropriation bill was discussed In committee of the whole. The Army Appropriation bill was reported. IN the Senate on the 4th the report of the Board of Indian Commissioners was laid before the Senate. A number of memorials were presented, but none of particular In. terest. bill passed accepting from Mrs. Grant and W. 11. Vanderbits the Grant trophies. The Fitz-John Porter bill was taken up and several amendments adopted In the House the minority.com mitter report against Incorporating the At. Instic & Pacific ship railroad was presented. Bills were passed for a public building at Savannah, Ga and increasing the allowance for Peoria to $275,010 The House refused t lay aside the Pensions Appr printion bill, which was debated during the rest of the session IN the Senate on the 5th a petition for Gov. ernment action in behalf of American pork in Germany WAS presented. A resolution a g reed to calling on the Secretary of the Navy for information concerning the Doi phin and other vessels. The Education bill when taken up, and, after the adopt several amendm nts. passed. Mr. Edmonds resolution expressing the sense of the Senate on the Ditatin case was called up and re. adopted. Two appropriation bills were In ceived from the H use and referred the House the Urgent Defleiency bill was 11s. curred at length In committee of the whole and passed by the House The private eat. endar was then taken up, and in the evening fifteen pension bills were passed IMMEDIATELY upon assembling on the 6th the House went into committee of the whole on the state of the Union and after several speeches had been made on the silver question,the committee rose and the House ad. journed. The Senate was not in session.

10. March 13, 1886 The Milan Exchange Milan, TN
Article from The Milan Exchange, March 13, 1886

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FIFTY Sioux Indian girls have recently entered the Wabash (Ind.) school. MARQUIS TSENG has left the Chinese diplomatic service and has become the chief of the Chinese Admiralty. JEM SMITH, the champion pugilist of En. gland, whom Sullivan is aching [not] to meet, was given a benefit at St. James' Hall, London. on the night of the 6th, at which he was presented with a championship belt worth $15,000. THERE was a slight run on the First National Bank of Bradford, Pa., on the 6th, which was promptly met. A FIRE at Akron, O., on the 6th, which started in Fred. Schumacher's oatmeal mills, caused a loss, before being subdued, estimated at $1,000,000. THE French Senate on the 6th adopted the Madagascar treaty.

11. August 17, 1893 The Sun New York, NY
Article from The Sun, August 17, 1893

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Suspended Banks Reopen Their Doors. KANSAS CITY. Aug. 16. - The Armourdale Bank at Armourdale. which suspended business in the financial crash in the two Kansas cities one month ago yesterday. has reopened its doors and resumed business. FORT SCOTT, Kan., Aug. 16-The First National Bank of this city. which suspended on July 18, resumed business this morning. Bank Examiner Latimer of Sedalia. who has been in charge since it closed. has issued a notice to depositors saying that the institution is in good financial condition. WASHINGTON. Aug. 16.-The First National Bank of Rico, Col., which suspended payment June 30. 1893. having complied with the conditions imposed by the Comptroller of the Currency. and its capital stock being unimpaired. has been permitted to-day to reopen its doors for business. CLEVELAND. Aug. 16.-The Cardington Banking Company. at Cardington. O., closed its doors this afternoon. Theassets approximate $100. 000 and are said to be sufficient to meet the demands of the creditors. The President of the bank. Major W. G. Beatty. was obliged to make an assignment. and the bank could not weather the trouble brought on by his embarrassment. CARROLLTON. Pa.. Aug. 16.-The banks of Johnston. Bucks county. at Ebensburg. Carrollton. and Hastings. which suspended payments until they could get more money. will open again on Monday morning.