Article Text
Pennsylvania Bank Suspends. Uniontown, Pa., Jan, 18.-The first National bank of Uniontown, failed to open its doors this morning. The capital is $100,000 and deposits $2,600,000.
First National Bank (Uniontown, PA)
Episode Information
- Episode UID
27001380- Episode Type
- Run → Suspension → Closure
- Bank Type
- national
- Bank ID
-
2700national - Charter Number
- 270
- Start Date
- December 1, 1914*
- Location
- Uniontown, Pennsylvania (39.899, -79.724)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
1f45d441065bfab1
Response Measures
Borrowed from banks or large institutions, Capital injected, Full suspension, Books examined
Other: Federal receivership appointed and the Comptroller of the Currency took charge; directors voluntarily pledged private funds to rehabilitate the bank.
Receivership Details
- Depositor recovery rate
- 100.0%
- Date receivership started
- 1915-01-19
- Date receivership terminated
- 1932-10-31
- OCC cause of failure
- Governance
- Share of assets assessed as good
- 30.7%
- Share of assets assessed as doubtful
- 67.9%
- Share of assets assessed as worthless
- 1.4%
Description
Bank closed Jan. 18, 1915 and placed in receivership; plans to reopen were reported but the institution remained in receivership.
Events (6)
1.
February 20, 1864
Chartered
- Source
- historical_nic
2.
December 1, 1914*
Run
- Cause
- Bank Specific Adverse Info
- Cause Details
- Protracted heavy withdrawals tied to the president J.V. Thompson's troubled coal-land finances and inability to realize on paper; $1,400,000 withdrawn in prior 14 months and $200,000 since Dec. 31, 1914.
- Measures
- Directors voluntarily pledged private funds as guarantee to depositors.
- Newspaper Excerpt
- there has been virtually a run on the bank for many months.
- Source
- newspapers
3.
January 18, 1915
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Voluntary closure after sustained withdrawals and unsatisfactory affairs acknowledged by Comptroller; bank failed to open Jan. 18, 1915.
- Newspaper Excerpt
- The First National bank of Uniontown, failed to open its doors this morning.
- Source
- newspapers
4.
January 19, 1915
Other
- Newspaper Excerpt
- Following the suspension ... Josiah Thompson ... accepted a voluntary receivership in the Fayette County Court, turned over his affairs to a triumvirate of receivers ... (bank) is now in charge of federal investigators, ... bank ... voluntarily closed its doors and is now in charge of federal investigators, Josiah Thompson is facing an army of angry creditors.
- Source
- newspapers
5.
January 19, 1915
Receivership
- Source
- historical_nic
6.
April 12, 1915
Receivership
- Newspaper Excerpt
- John H. Strawn of Pennsylvania was appointed permanent receiver for the First National Bank of Uniontown, Pa., by Controller of the Currency Williams.
- Source
- newspapers
Newspaper Articles (23)
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Uniontown's Suspension Laid to Plot Against Josiah Thompson. RECEIVERS TAKE HIS PROPERTY His Assets Placed at $70,000.000 and Liabilities at $22,000,000. (By Telegraph to The Tribunal Uniontown, Penn., Jan. 19.-Following the suspension of the Uniontown "Honor" First National Bank, which vesterday voluntarily closed its doors and is now in charge of federal inrestigators, Josiah Thompson is facing an army of angry creditors. He is head of the $100,000,000 Greene County Coal Land Syndicate, one of the largest independent coal land owners in the United States and president of the closed bank. He accepted to-day R voluntary recoivership in the Fayette County Court, turned over his affairs to a triumvirate of receivers and started New York, ostensibly to negotiate loan to save the bank. Probably ten thousand persons are affected by this financial upheaval. which has upturned all of Western Pennsylvania and parts of Ohio and West Virginia The Controller of the Currency in Washington admits that the affairs of the bank have been unsatisfactory since 1912, and there has been virtually a run on the bank for many months. One of Thompson's creditors. by his own admission, is Republican State Chairman William Crow, virtually political "ruler" of Fayette County. He acknowledged to-day that he had sold coal lands to Mr. Thompson and that he held the latter's notes. He maintains that Thompson's affairs will be righted. Thompson was an aspirant for the Governorship nomination in 1906. It is common talk about town that millions of dollars have been withdrawn from the bank by depositors in the last two years. It is said the withdrawal of $200,000 of deposits since December 31, 1914, coming on top of the withdrawal of $1,400,000 in the preceding fourteen months, caused the crisis. Scarcity of money and inability to realize on the vast amount of paper which the bank is reputed to hold are said by Thompson's many friends to have caused the embarrassment of the institution. Likewise, it is said, Thompson has been forced into a corner RS the result of sales of coal lands to operators dating back to 1907. In the bill of equity filed to-day it is set forth that Thompson's assets are $70.000,000 and that his total indebtedness is $22,000,000, of which $7,000,000 is unsecured. Back of the crash, it is said, is a battle between Thompson, as the head of an independent syndicate, and powerful financial interests, in which the latter are said to have aimed at the overthrow of Thompson and his lieutenants by forcing the value of their coal and coke land holdings to such a low level that they could be bought for a song Thompson's rise from a poor boy to the dominating head of & large corporation has been meteoric Starting with an inheritance of $100,000, he is accredited with having won a $100,000.000 fortune. The confidence of those who have invested with him is shown by the fact that the directors of the First National Bank have voluntarily pledged their private funds for rehabilitation of its affairs and as a guarantee to depositors that they will be paid. While the creditors' petition declares there is $7,000,000 of unsecured property, it asserts that the balance of $15,000,000 is secured by mortgage or pledge of substantially the entire assets of the defendant, leaving nothing but equities out of which unsecured creditors can be paid and on which they cannot realize. Three large coal land deals, said to be pending are Thompson's hope for prompt relief. Closing any one of them, according to report, will enable him to set the bank on its feet. When the bank became a member of the District Regional Reserve Bank it is said to have had a surplus of $1,700,000 and that $700,000 was distrib-
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RECEIVER FOR HEAD OF $100,000,000 CO. Josiah Thompson, President of Failed Uniontown Bank. Put Assets at $70,000,000. CAME UP FROM POOR BOY UNIONTOWN, Pa., Jan. 19.-Following the suspension yesterday of the Uniontown First National Bank, Josiah Thompson, head of the $100,000,000 Greene County Coal Land Syndicate, and one of the largest independent coal land owners in the country and president of the bank, accepted voluntary receivership in the Fayette County courts to-day, turned over his affairs to three receivers and left for New York. His assets were given as $70,000,000. and his debts $22,000,000, with $7,000,000 unsecured. Probably 10,000 persons are involved in the failure. The statement of the Comptroller of the Currency in Washington that the affairs of the bank have been unsatisfactory since 1912, is followed by the admission here that there has been virtually a run on the bank for many months. One of Thompson's creditors, by his own admission. is Republican State Chairman William Crow, who said today that he had sold coal lands to Mr. Thompson and that he held the latter's notes. He maintains Thompson's affairs will be righted. Thompson was an aspirant for the Gubernatorial nomination in 1906. While the affairs of the bank are guarded. it is said the withdrawal of $200,000 of deposits since the first of the year. coming on top of the withdrawal of $1,400,000 in the preceding fourteen months, precipitated the crisis. Back of the present disturbance, it is said, lies the story of a gigantic battle between Thompson as the head of an independent syndicate and powerful financial interests engaged in the coal and coke business. Thompson's rise in the world, his progress from a poor boy to the dominating head of a vast financial. holding corporation. has been meteoric. Starting with an inheritance of $100,000 from a relative he is accredited with having fought his way up to a $100,000,000 fortune. The faith to those who have invested with him is shown by the fact that directors of the First National Bank have voluntarily pledged their private funds for rehabilitation of the affairs of the bank and as a guarantee to depositors that they will be paid. When the bank became a member of the Federal reserve system it is said to have had a surplus of $1,700,000. and that the $700,000 was distributed in a "700 per cent. dividend." This was paid on July 6. 1914. Organized in 1854 with a capital of $100.000 the bank came up so fast that it has been paying dividends at the rate of 22 per cent. annually.
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OTHER COMPANIES FAIL. Receivers Named for Coke Concern and Subsidiary. UNIONTOWN, Pa., Jan. 21.-Receivers were named by Judge J. Q. Van Swearingen this afternoon for the Tower Hill Connellaville Coke Company, a large independent concern operating two plants in Fayette county, and a subsidiary, the Tower Hill Supply Company. The receiverships are attributed directly to the failure of Josiah Thompson's bank, the First National. The assets of the coke company are $3,500,000 and its liabilities $3,000,000. The liabilities of the supply company are $40,000 and the assets $120,000. Receivers named for both concerns are L. W. Fogg, G. S. Harah and John Thompson.
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THOMPSON FAILURE FORCES COKE OPERATOR TO WALL Receivers Appointed for Owner of Independent Uniontown Plant. UNIONTOWN, Pa., Jan. 23.-Another prominent independent coke operator went into a receiver's hands today as the result of the condition which prevalls here following the closing of the First National Bank and the receivership of J. v. Thompson, its president. Judge J. Q. Van Swearingen named W. L Gans, William J. White and Isaac Taylor as receivers for Isaac H. Brownfield, of Uniontown. Mr. Brownfield is the owner of the Riownfield-Connellsville Coke Company, which operates a plant in Westmoreland County and two coal mines in Fayette County. The assets are $891,000 and the liabilities $450,000, of which $95,000 is unsecured. 1. V. Thompson spent this morning at his home, denying himself to all visitors. He has refused to give out any statement, but some of his close friends say that he is working out an extensive plan by which he will be able to save himself and associates. It is intimated that some Independent steel men are coming to his rescue. There are rumors of Federal action today in regard to the First NaUonal Bank's condition.
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Persons Close to Pittsburgh Banker Declare Whatever Money Is Needed to Allow His Bank to Reopen Will Be Forthcoming This Week. [By a Staff Correspondent of The Tribune.] pect to. Six days a week is enough." The religious side of the coke land Uniontown, Penn., Jan. 24.-The efking, wjho is now battling with the big feet of the uproar caused in this part steel and financial interests in Pittsof the country by charges that Josiah burgh for continuance of his control V. Thompson and his associates are of the coke land situation, is a phase being pursued by "big business" and little known to any except his most the threat of a federal inquiry as to intimate friends. For forty-four years the causes leading up to the closing of the First National Bank, exclusivehe has been a member of the Presbyterian Church, and among his other ly told of in The Tribune to-day, was seen when persons close to Mr. Thomppossessions he is owner of a half inson received intimations from New terest in "The Presbyterian Banner," York and Pittsburgh to-day that he the oldest religious weekly published would probably find little difficulty this west of the Alleghanies. week in arranging to get such money In those forty-four years Mr. Thompas may be needed to straighten out son has rarely missed services on Sunhis affairs and allow the bank to reday morning and then only to sleep. open. The necessity for this sleep will be understood when it is said that he gets The money, if it is recived, will not be in the form of a loan. Mr. Thompalong with less sleep than Thomas A. Edison. son has not had a loan in New York "I rarely sleep more than an hour in ten years. It will probably come or two a night from Sunday night to through the sale of a comparatively Saturday night," Mr. Thompson recentsmall block of coke land. ly told a visitor. "It is a good week If this fails it is not unlikely that that I get in more than eight or nine part of the Thompson holdings will be hours between Sundays. I do not find turned over to a stock company that it hurts me, and I will be sixtyformed by his friends, who will put one, if I live until the middle of next up the $3,000,000 or $4,000,000 necesmonth." sary to meet maturing obligations and It is probable that Mr. Thompson will pressing charges and give Mr. Thompgo to New York to-morrow, though this son and his associates time to move is by no means certain, his movements around in. depending in large measure on what With Mr. Thompson, they believe his counsel in Pittsburgh may advise. that the tide has turned in the steel He retains his apartments in the Waltrade, and that the coke business, dedorf, in New York, where W. H. Conpressed when the steel trade is bad. way, of his legal staff, is in charge. Michael J. Ryan, of Philadelphia, is soon to come into its own. In orchief counsel for the H. C. Frick Coke ers of the H. C. Frick Company, the Company, was in Uniontown yesterday, coke subsidiary of the United States and attacked the receiverships of variSteel Corporation, to start full time ous Uniontown business men connected to-morrow. after months of partial with Mr. Thompson and the First Naidleness, they see confirmation of this tional Bank. He said it was illegal for faith. individuals to go into receiverships, as From sources outside the steel busireceivers should be appointed only for ness Mr. Thompson is in receipt of corporations, and individuals must go considerable offers of assistance. What into bankruptcy. His comments caused these are he declines to say. To-day, considerable excitement, especially in fact, he was inaccessible as ever to among the business men who have gone interviewers, for, following the pracinto receivers' hands following the tice of a lifetime, he dropped all busibank's trouble. ness at midnight and devoted the day In nearly all the churches in Unionto rest and church duties. town to-day the pastors prayed for the "I have never yet found it necessary speedy settlement of the bank's affairs to work on Sunday or to talk business and the return of prosperity to Unionin any of its phases on Sunday," Mr. town. Thompson said, "and I do not ever ex-
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Col. Conaway Counsel For Coal Magnate Gives Out Interesting Story. SAYS CLIENT IS SOLVENT ALSO SAYS HE WILL HAVE CASH IN A WEEK TO PAY OFF INDEBTEDNESS. NEW YORK, Feb. 1.-W. H. Conaway, of Fairmont, W. Va., general counsel for J. V. Thompson, coal mag nate and president of the suspended First National Bank of Uniontown, Pa., who is in New York negotiating for a loan of $2,500,000 to tide over the financial difficulties, which he says are only temporary, of his millionaire client, declaes that lie has had the money promised several times by different New York banks an dtrust companies, but that when lie was reaching out for the coin some unseen hand got busy and checkmated him. Mr. Conaway avers that a certain coal baron of New York and Pitts burgh, desirous of getting control of very valuable coking coal lands in Pennsylvania and West Virginia is exercising his influence with the moneyed Interests of New York to prevent him raising the necessary amount to liquidate all of the outstanding obligations. "Mr. Thompson is perfectly solvent." says Conaway in a telegram to. day, "and he and nearly 400 associates will come out of the entanglement with flying colors. He himself turned the key in the door of the Uniontown bank, without waiting for the official action of a none too friendly comptroller of currency at Washington. Ot course Thompson's enemies want his coal lands in West Virginia for a song, as It were, but they will have to come across with his price, which is not less than $40,000,000, before he will part with his holdings. Anyway, the people in that section of West Virg. ginia, among whom he has done business for more than thirty years, have confidence in him and will stick by him to the last ditch." Mr. Conaway declares to his friends that he will leave for West Virginia within a week with cash enough to pay off all pressing obligations and clear the decks for future action.
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# MERE-MENTION Three masked men held up the cashier of the bank of Avant, Okla., Friday, and secured $1,000. Receivers were appointed on Saturday for William Barton, the twelfth coal operator whose property has gone into receivership in Uniontown county, Pa., since the closing of the First National bank of Uniontown, a $100,000 institution. The assets of the twelve operators total more than $36,000,000, while their liabilities are only $12,000,000. More than 33,000 bales of cotton were shipped from Savannah, Ga., to foreign ports last Saturday. The Vermont legislature last Friday, passed a resolution commending Mrs. Bettie Van Metre of Berryville, Va., for her care of Lieut Bedell of Westfield, Vt., after he was injured during the civil war. Floods and storms in Arizona on Saturday, did more than $100,000 damage in the Salt river valley. Animals in a menagerie in Phoenix, valued at $30,000, were drowned. An explosion which occurred on the flagship San Diego, January 21, claimed its ninth victim Saturday, by the death of Ralph B. Glidden, a fireman. Four other sailors remain in a serious condition as a result of the accident. John P. Edder and his two sons, all farmers, were shot while seated at breakfast in their home near Andalusia, Ala., Saturday. The sons will die and the father is seriously wounded. A shot gun was used, the gun being discharged through a window. An old feud is believed to have been the cause. The first shipment of cotton from Mobile, Ala., to Liverpool, left Mobile on Saturday. There were 5,000 bales. A monster black bear was killed near Luray, Va., Saturday. The bear was placed on exhibition and people walked many miles to see it. Between $40,000 and $50,000 worth of diamonds were secured by four men who drove up to a New York pawnshop in an automobile, Saturday, held up three clerks, threw the jewels in a suit case and made their escape. Sam Merrick, a negro, died in Wilmington, N. C., a few days ago, leaving $5,000 in cash and several pieces of real property. The negro lived alone and so far as is known had no relatives. Since his death the clerk of court of New Hanover has received no less than sixty letters from people claiming to be near relatives of the dead negro. Miss Nora McAdoo, daughter of Secretary McAdoo, sailed for France last week, where she will engage in Red Cross work. Herman Aurebach, a prominent real estate operator of New York, on Sunday shot and killed his wife and two daughters, and then committed suicide, after leaving a note under his son's door informing him of the tragedy. The shooting was done with a repeating rifle to which was attached a silencer apparatus. Worry over financial reverses is supposed to have been the cause of the act. W. B. M. Brown, congressman-elect from the twenty-fourth Pennsylvania district, died suddenly in New York, Sunday. Rear Admiral Montagu of the British navy, died in London, Sunday, aged 74 years. The Atlantic Coast Line's New York and West Indian limited train was wrecked at Callahan, Fla., Saturday. Five passengers were slightly injured. Advices received at Toronto, are to the effect that 32,000 Canadian troops have been sent from the training camp in England, to the front in France. War prices for wheat for May delivery reached $1.52½ a bushel, Saturday, in Chicago. In a fight on the 17th floor of the Adams Express building in New York, Saturday, Jos. F. McLaughlin stabbed Wm. B. Irvine to death with a pocket knife. Twenty-seven men were sentenced in the Federal court in St. Louis, Mo., Saturday, to serve terms of 30 days to three and a half years, and pay fines of $5,000 to $10,000 each, for violation of the Federal tax laws in relation to the manufacture and sale of oleomargarine. Mrs. Ann Miller died at Bedford, N. Y., Saturday, aged 100 years. For the past 70 years she had been a strict vegetarian. Gen. George B. Milman of the British army, and for 39 years keeper of the Tower of London, is dead. The British government has placed an order for 8,000 tons of steel bullets with a Birmingham, Ala., steel company.
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John H. Strawn of Pennsylvania was appointed permanent receiver for the First National Bank of Uniontown, Pa., by Controller of the Currency Williams. -
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Thompson Is Given Chance To Pay Out (By Associated Press.) UNIONTOWN, Pa., April 16.-John H. Strawn, recently appointed receiver of the closed First National Bank of Uniontown, today took charge of the institution and announced he would try and make distribution to the depositors within two weeks. He would not say they would be paid in full. J. v. Thompson, president of the bank, he said, had been given an opportunity to straighten out his financial affairs.
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George Yaroma, a farmhand, who was discharged by Matson Clark, a Wilmington, III., farmer, returned to Clark's home and drove Mr. and Mrs. Clark out with a revolver, barricaded himself within, and after an all-day battle with the sheriff's men, set fire to the house and shot himself. Reports reaching Amsterdam, Holland, say that during the recent allied air attack on the German positions in Belgium an aerodrome at Gontrode was destroyed and a Zeppelin stored therein demolished. Two roomers have not been located in a fire in Louis Goldman's rooming house at St. Paul, Minn. A determined but futile fight in the assembly on the bill designed to raise the cost of liquor business one-fourth throughout New York state delayed adjournment of the legislature for a day. The measure was passed, 82 to 48. ... The consolidation of the Merchants' National bank and the Illinois State bank has been announced at Peoria. The new bank will be known as the Merchants and Illinois National bank. The trawler Envoy, which was supposed to have been sunk by a German submarine, was brought safely into the Tyne. ... If Italy enters the war she will be confronted right from the outset by first-line German troops. Reliable advices say that the Trentino authorities already have prepared quarters for ,5,000 German troops now en route. ... Miss Alexandra Legeray, a member of a Cossack regiment, has been promoted to a lieutenant. At the point of a hat pin Miss Anna Goldsmth, 18, of New York, took two young men to a police station for passing remarks about her new hat. Charles Burnham, 45, of Arden, N. Y., was fatally burned when he stumbled against the railing of the steps of his home and ignited a box of matches in his pocket. John Argo, 16, of Wapella, III., committed suicide with a revolver while despondent over ill health. Another receivership growing out of the failure of the First National bank of Uniontown, Pa., came when receivers were appointed for Francis M. Semans, Jr., former assistant cashier of the bank. ... Capt. Geddes, once prominent on the Chicago Board of Trade, and recently in command of a company of Canadian troops in France, was killed in action in the course of recent fighting. Frederick W. Seward, who was the last survivor of those who took an active part in the event of April 14, 1865, when President Lincoln was shot at Ford's theater by John Wilkes Booth, is dead at Auburn, N. Y.
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HE BORROWS $20,000,000 Josiah V. Thompson, of Uniontown, Says He Will Soon Be Freed of Financial Troubles By Associated Press. Uniontown, Pa., May 4.-Josiah V. Thompson, banker and holder of extensive coal properties in Western Pennsylvania, Eastern Ohio and West Virginia, whose financial embarrassment has been widely felt in the three States for several months, announced to-day that he had negotiated a loan of $20,000,000 and that he and his associates would soon be freed of their troubles. Mr. Thompson said further that the First National Bank of Uniontown, which has been in the hands of a receiver since January 18, would reopen within six weeks, that receivers appointed for the many persons associated with him would be discharged and that the 430,000 acres of coal lands involved would be withdrawn from the market. Mr. Thompson did not disclose the names of the persons who have agreed to advance the money, but added that they were conversant with the situation, although a corps of expert accountants was to go into every phase of the situation without delay.
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Uniontown Banker Withdraws 430,000 Acres Coal Land From Market. SAYS TROUBLE IS OVER Receivers To Be Discharged. Source Of Loan Is Not Disclosed. (By Associated Press.) UNIONTOWN, Pa., May 4.-J. V. Thompson, banker and holder of exsive coal properties in Western Pennsylvania, Eastern Ohio and West Virginia, whose financial embarrassment has been widely felt in the three states for months, announced today that he had negotiated a loan of $20.000,000, and that he and his associates would soon be free of their trouble. Mr. Thompson said further that the First National Bank of Uniontown, which has been in the hands of a raceiver since January 18, would reopen within six weeks; that receivers appointed for the many persons associated with him would be discharged, and that the 430.000 acres of coal land involved would be withdrawn form the market. Mr. Thompson did not disclose the names of the persons who had agreed to advance the money, but stated they were conversant with the situation, although a corps of expert accountants was to go into every phase of the situation without delay.
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UNIONTOWN BANKER WILL NOW BE ABLE TO CARE FOR LIABILITIES Will Aid Associates and Public Will Not Lose Dollar-Optimistic Statement UNIONTOWN, Pa., May 4.-Josiah V. Thompson today announced that he had secured a loan of $20,000,000 for five years. This vast sum will be amply sufficient to care for all needs and Thompson announced that he and his associates will emerge from their financial difficulties without the loss of a dollar. He stated that within six weeks the First National bank, which went into the hands of a receiver January 18, will resume business, that receiver ships for various firms and individuals will be dropped and that while the plan for rehabilitation is being worked out the vast coal acreage in west. ern Pennsylvania, northern West Virginia and eastern Ohio will be witadrawn from the market. Thousands are Gladdened. Thompson's announcement this morning brought gladness to thous. ands of people in Fayette county, who have been vitally affected by the failures of the past few months. Thompson did not state who his financial backers are, but he admitted that several men are behind him, claiming that one of these men would himself have been able to have financed the undertaking. Thompson returned two days ago from the east, presumably from New York, where he spent a week. He was silent as to the results of his visit until this morning when he granted the following interview: "Within four or six weeks positive assurance can be given that all of our financial difficulties will have been solved. "Parties with whom I am negotlating are to furnish me $15,000,000 to $20,000,000 and are amply able to do so. In fact, one is able to do it alone. Says Formalities are Required. "All that now remains is to go (Continued on Page Ten.)
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$20,000,000 FOR EX-BANKER. J. v. Thompson of Uniontown Says He Got Big Loan. UNIONTOWN. Pa., May 4.-Announcing that he had negotiated a $20,000,000 loan, Josiah V. Thompson, banker and holder of extensive coal properties, whose financial embarrassment has been widely felt, said that he and his assoclates would soon be freed of their troubles. Mr. Thompson added that the First National Bank of Uniontown. which has been in the hands of a receiver since January 18, would reopen within six weeks. Mr. Thompson did not disclose the names of the persons, who, he says, have agreed to advance the money. Inquiry in prominent banking circles fails to reveal that Josiah V. Thompson of Uniontown. Pa., has obtained in New York the $15,000,000 or $20.000,000 necessary to enable him to lift his receiverships.
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J. V. THOMPSON NEGOTIATES LOAN OF $20,000,000. UNIONTOWN, PA., May 4.-J. V. Thompson, banker and owner of extensive coal property in western West Virginia, whose financial emPennsylvania, eastern Ohio and barrassment has been widly felt in the three states for several months, negotiated a loan of $20,000,000 and that he and his associate would soon be freed of their trouble. Mr. Thompson said further that the First National Bank of Uniontown, which has been in the hands of a receiver since January 18th, would reopen within six weeks, that receivers appointed for the many personsassociated with him would be discharged, and that the 430,000 acres of coal lands involved would be withdrawen from the market. Mr. Thompson did not disclose the names of the persons who havee agreed to advance the money, but added that they were conversant with the situation, although a crop of expert accountants was to go into every phase of the situation without delay.
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WITHHOLDS DECISION IN THOMPSON CASE UNIONTOWN, Pa., May 19.-Just as Judge J. Q. Van Swearengen was about to hand down his decision yesterday on the validity of the receivership of J. V. Thompson, president of the First National Bank of Uniontown, attorneys for Mr. Thompson and his business associates who went into receivers' hands following the closing of the First National Bank, requested that the decision be withheld until June 15. Judge Van Swearengen asked if there were any objections to withholding the decision and all attorneys interested in the decision were satis. fied to let the decision be withheld until June 15 or later. It is the opinion here that the affairs of Mr. Thompson and his assoclates will be straightened up before the time set for the decision.
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Closed Bank's Head Rich. Uniontown, Pa., July 14.-Josiah V. Thompson, whose affairs were placed in the hands of receivers when the First National bank of Uniontown was closed, owned coal lands valued at $65,367,785.
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200 SUITS FILED AGAINST THOMPSON UNIONTOWN, Pa., Nov. 5.-Nearly 200 suits have been instituted in the local courts against J. V. Thompson, coal operator and head of the First National Bank of Uniontown. which is now in the hands of a receiver. since he signed an agreement last Tuesday to turn over sufficient assets to creditors to meet his indebtedness. Many of the suits, according to attorneys, however, have been filed in order to put on record unsecured claims of alleged creditors. Attorneys for the coal magnate have refused to accept service on the suits, and a dozen constables and other court officers kept watch on incoming trains to-day following reports that Mr. Thompson was to return here from New York.
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Denies He Will Marry Rich Widow. New York, Nov. 6.-Josia V. Thompson, millionaire coal mine owner and president of the First National Bank at Uniontown, Pa., which closed its doors January 18 of this year, having on deposits $1,500,000, emphatically denied today the consistent rumors that he was to remarry a woman worth $40,000,000, and was to return to Uniontown to straighten out his affairs. Mr. Thompson. when seen at the Waldorf, laughed heartily when the reporter questioned him about the rumor of his marriage: "I want to emphatically deny the rumor. There is absolutely no truth in IL. When I go back to Uniontown It will not be by the marriage route. "The depositors of the First National Bank will be paid every dollar due them. They need have no fear. I have put up absolutely good securities in the hands of the Comptroller of the Currency at Washington. The bank will be reopened."
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GENERAL NEWS NOTES Items of Interest Gathered from All Around the World. Pennsylvania crude oil has advanced in price to $2 a barrel. The Elk Horn Coal corporation has been organized at Charleston, W. Va., with a capital of $28,600,00. hanksgiving turkeys are quoted in Boston at 40 cents a pound. In New York the price is 30 cents and in Balti- more 28 cents a pound. The railroads of New Jersey are this year assessed at $350,480.963, and the taxes to be paid the state will total $7,355,675.96. Bank clearings in the United States for the week ending November 18, ac- cording to Bradstreet, totaled $4,943,- 790,000, a gain of $388,308,000 over the previous week. New York city was swept by a 72- mile an hour gale Friday. There was much damage to property and many of the extremely high buildings swayed dangerously. David Lentz, a farmer, was killed near Salisbury, N. C.. Saturday, when his automobile ran into a ditch and turned turtle. In the Tennessee senatorial primary held Saturday, Senator Luke Lea ran third on the ticket, being defeated by both Congressman McKellar and M. R. Patterson, former governor. Mc- Kellar and Patterson will run a second race for the nomination. A Copenhagen dispatch says that because the famine of copper through- out Germany is so acute, requests equivalent to demands are being made on the churches to hand over all copper in their possession. The cath- edral at Bremen has been stripped of its immense copper roof. The Carranza government of Mexi- co has made a protest to Great Britain on account of the recent forcible search of the American steamer, Zealandia, at Progresso. The captain of the ship protests that he was in Mexican wat- ers while the British claim she was on the high seas and subject to search as she was suspected of being in the service to aid Germany. J. V. Thompson, president and prin- cipal owner of the defunct First Na- tional bank of Uniontown, Pa., is to be prosecuted by the government crim- inally, and civilly by depositors and unsecured creditors, because of the failure. The directors are also to be prosecuted criminally. About 2,200 civil suits have been filed against Thomson, aggregating $7,000,000. An Ottawa, Canada, dispatch says that it is reported that ex-President Roosevelt may put into practical effect this espousal of the cause of the Allies by volunteering for active service with the Canadian forces. It is certain that he would be given a high command, possibly as officer in command of a whole division. It is stated that on his recent visit to Quebec on a hunting trip he declared that he would like to be fighting at the front in the same cause as the Canadians.
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ed, It is pandemontum." Hearing was continued for a week. WILLIAMS COVETED STOCK. Comptroller Accused in $750,000 Deal in Securities. Washington, July 25- A. E. Jones. counsel for Independent stockholders of the old First National bank of Uniontown, Pa., testifying before the senate banking committee, charged John Skelton Williams, controller of the currency, with unfair management of the bank's affairs after its failure, and with having a personal interest in the disposition of 10,000 shares of coal mining stock given by J.V. Thompson, the bank president, to secure his indebtedness. Mr. Jones said the stock had been turned over to the controller under an agreement by which Mr. Thompson was to be given an opportunity to redeem it for $750,000. The witness also testifled that Mr. Williams had his stock assigned to himself, and that the controller's representative went to a meeting of bank stockholders and controlled that meeting for the purpose of bringing about the sale of the coal stock. "Do you intend to charge Mr. Williams engaged in this conference for the purpose of obtainig that stock?" asked Senator Fletacher, democrat, of Florida. "It is the only conclusion any reasonable man can draw that Mr. Williams wanted the stock, or was a party to proceedings that would enable some of his friends to get it," Mr. Jones replied. "The charges are absolutely without basis," said Mr. Williams, who followed Mr .Jones before the committee. "I want to denounce Mr. Jones as a contemptible slanderer in charging that I have any personal motters in this matter. His statements are full of inconsistencies." "Mr. Williams puts me in the same class as other critics of his administration," Mr. Jones said following the controller's statement. Mr. Williams told the committee that he had summoned Mr. Thompson to Washington several times to criticize certain banking methods and asserted the action in the Thompson case showed the efficiency of the controller's office.
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MANIPULATION is CHARGED BY UNIONTOWN MAN WASHINGTON July 24-A E. Jones, counsel for independent stockholders of the old First National Bank of Uniontown, Pa., testifying today before the senate banking committee. charged John Skelton Williams, comptroller of the currency with unfair manipulation of the bank's affairs after its failure and with having a personal interest in the disposition of 10,000 shares of coal mining stock given by J. V. Thompson, the bank president, to secure his indebtedness. Mr. Jones said the stock had been turned over to the comptroller under an agreement by which Mr. Thompson was to be given an opportunity to redeem it for $750,000. He also testified that Mr. Williams had this stock assigned in himself, and that the comptroller's representative went to a meeting of bank stockholders and controlled that meeting. for the purpose of bringing about the sale of the coal stock. Under an agreement alleged to have been reached at a conference of stock. holders and representatives of the comptroller's office in New York at the home of Samuel Untermeyer in January 1918. Mr. Jones said, sale of the bank's building was to be postponed and proceedings brought to enable an interpretation of the agreement relative to the stock ib. tained in the courts. Instead. Mr. Jones alleged, foreclosure proceedings were instituted and all testimony relative to the Thompson agreement kept out of the record. "Do you intend to charge Mr. Wil. liams engaged in this conference for the purpose of gaining that stock?" asked Senator Fletcher, Democrat, of Florida. "It is the only conclusion any reasonable man can draw-that Mr. Williams wanted the stock. or was a party to proceedings that would enable some of his friends to get it" Mr. Jones replied "The charges are absolutely without basis" said Mr. Williams, who followed M. Jones before the committee. 'I want to denounce Mr. Jones as a contemptible slanderer in charging that I have any personal motives in this matter His statements are full of inconsistencies."