Farmers Bank (Elizabethtown, PA)

Episode Information

Episode UID
3032648291021
Episode Type
Run → Suspension → Closure
Bank Type
trust
Bank ID
303264829 hash
Start Date
January 10, 1885
Location
Elizabethtown, Pennsylvania (40.153, -76.603)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
0862e7d465d8fed7

Response Measures

None

Events (2)

1. January 10, 1885 Run
Cause
Bank Specific Adverse Info
Cause Details
Owner Samuel Eady had confessed judgments (~$26k), indicating insolvency that precipitated depositor withdrawals.
Newspaper Excerpt
closed its doors to-day owing to a run upon it by depositors.
Source
newspapers
2. January 10, 1885 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed its doors after run; liabilities reported ~ $80,000 and assets unknown, suggesting failure rather than temporary liquidity issue.
Newspaper Excerpt
suspended on Saturday, in consequence of a run by its depositors.
Source
newspapers

Newspaper Articles (17)

Article from Alexandria Gazette, January 10, 1885

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Article Text

Closing of a Bank. LANCASTER. Pa., Jan. 10.-The Farmers' Bank of Elizabethtown, this county, owned by Samuel Eady, closed its doors to-day owing to a run upon it by depositors. Mr. Eady yesterday confessed judgment to various parties to the amount of $26,399.01. The liabilities of the bank will probably aggregate $80,000. The assets are unknown, but the depositors will likely lose heavily.


Article from Evening Star, January 10, 1885

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Bank Failure in Pennsylvania. LANCASTER, PA., January 10.-The Farmers' Bank of Elizabethtown, this county, owned by Samuel Eady. closed its doors to-day owing to run upon It by depositors. Mr. Eady yesterday confessed judgment to various parties to the amount of $26,399.01. The liabilities of the bank will probably aggregate $80,000. The assets are unknown, but the depositors will likely lose heavily.


Article from Savannah Morning News, January 11, 1885

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A BANK GOES TO THE WALL. Depositors to Lose Heavily-Other Failures in the Financial World. LANCASTER, Pa., Jan. 10.-The Farmers' Bank, of Elizabethtown, this county, owned by Samuel Eady, closed its doors to-day, owing to a run upon it by depositors. Mr. Eady yesterday confessed judgment to various parties to the amount of $26,399. The liabilities of the bank will probably aggregate $80,000. The assets are unknown, but the depositors will likely lose heavily.


Article from The Indianapolis Sentinel, January 11, 1885

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A Broken Bank. LANCASTER, Pa., Jan. 10.-The Farmers' Bank at Elizabethtown. this county, owned by Samuel Eady, closed its doors to-day, owing to a run upon it. Liabilities, $80,000. Depositors will lose heavily.


Article from The Democratic Leader, January 11, 1885

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Under the Tide. LANCASTER, Penn., January 10.-The Farmer's Bank of Elizabethtown, this county, owned by Samuel Eady, olosed its doors to-day owing to a run upon it. Eady yesterday confessed judgment to various parties to the amount of $26,000. The liabilities aggregate $80,000. The assets are unknown but the depositors are likely to lose heavily.


Article from The Indianapolis Journal, January 11, 1885

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Bad Bank Failure. LANCASTER. Pa, Jan. 10.-The Farmers' Bank, at Elizabethtown, this county, owned by Samuel Eady, closed its doors to-day, owing to & run upon it. Mr. Eady yesterday confessed judgments in favor of various parties to the amount of $26,000. The liabilities aggregate $80,000; assets unknown, but depositors are likely to lose heavily.


Article from The Salt Lake Herald, January 11, 1885

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Bank Failure. LANCASTER, Pa., January 10.-The Farmers' Bank, Elizabethtown, this county, owned by Samuel Eady, closed its doors to-day, owing to a run upon it. Eady, yesterday, confessed judgment to various parties to the amount of $96,000. The liabilities aggregate $80,000; assets unknown, but depositors will probably lose heavily.


Article from Richmond Dispatch, January 11, 1885

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THE INTERNAL REVENUE MUST GOEDUCATIONAL. [Special telegram to the Dispatch.] RALEIGH, N. C., January 10.-The House of Commons to-day almost unanimously adopted a resolution instructing the North Carolina senators. and representatives in Congress to work earnestly and vote for the passage of a bill repealing the internal-revenue laws. Rev. Dr. J. L. M. Curry, agent of the Peabody fund, is here, and will, by resolution, be invited to address both houses of the General Assembly Tuesday evening upon the subject of education. A Bank Failure. [By telegraph to the Dispatch.] LANCASTER, PA., January 10.-The Farmers Bank of Elizabethtown, this county, owned by Samuel Eady, closed its doors to-day, owing to a run upon it by depositors. Mr. Eady yesterday confessed judgment to various parties to the amount of $26,399. The liabilities of the banl will probably aggregate $80,000. The assets are unknown, but the depositors will likely lose heavily.


Article from The Indianapolis Sentinel, January 12, 1885

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A Broken Bank. LANCASTER, Pa., Jan. 10.-The Farmers' Bank at Elizabethtown, this county, owned by Samuel Eady. closed its doors to-day, owing to a run upon it. Liabilities, $80,000. Depositors will lose heavily.


Article from The Rock Island Argus, January 12, 1885

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Another Bank Broken. LANCASTER Pa., Jan. 12-The Farmers' bank. of Klizabethtown, in this county which is owned by Samuel Eady, closed its doors, Saturday, owing to a run upon it. Eady, Friday, confessed judgment to the various parties to the amount of $26,000. Liabilities aggregate $80,000. The assets are unknown, but the depositors are likely be lose heavily.


Article from Daily Republican, January 12, 1885

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# THIRD EDITION. News Summary. Charles A Kricks was charged with forgery in Toronto on Saturday. It was alleged that William Harron sent in an application to attend the recent examination of the Ontario College of Pharmacy. At the examinations a young man presented himself as Har-ron, and satisfactorily passed his examination. It afterward became known that darron did not attend, but that Kricks personated him and signed Harron's name to the examination papers. Kricks was remanded until to-day, bail being refused. Judge Maguire, in the Superior Court at San Francisco, on Friday, decided the case of a ten-year-old Chinese girl against the principal of a public school in that city. He held that, under the Fourteenth Amendment to the Federal Constitution, and also the State law, which provides that all children shall have equal facilities in the common schools, children born in this country of Chinese parents are entitled to admission to the public schools. A passenger train on the Pensacola and Atlantic Railroad broke down near Chipley, Florida, on Saturday evening, and two Pullman cars left standing at a curve were run into by a freight train. Both coaches were wrecked and telescoped, and five passengers were injured, none, it is thought, atally. A telegram from Buffalo says the Charity Ball held shere Friday night was the most brilliant and succesful affair of the kind ever given in that city. "The presence of President-elect Cleveland did much towards making the affair a success, and the best classes of Buffalo's citizens were represented." The steam tug Mike Dougherty was demolished by the bursting of her boiler near Elizabeth, Penna., yesterday morning Two men were killed—William Holler and William Matthews, both of allegheny and four others were injured. The boat was valued at $15,000. Two cottages in Stapleton, Staten Island, owned by Justice Vaughn, were burned yesterday morning. It is believed the cottages were fired by an incendiary gang, whose leader, "Red" Scott, was arrested last Thursday night and severely arraigned by the Judge. Two Mormon elders with seventeen proselytes—eight women, six men and three children—passed through Dallas, Texas, on Friday night, on the way to a new Mormon colony in the Mexican State of Sonora. The proselytes were from Georgia. St. Peter's Methodist Episcopa church in Reading, Penna, was rededicated yesterday. In the afternoon Governor Pattison, whose father was pastor of the church seventeen years ago, delivered an address on Methodism. Republican members of the Legislature of Pennsylvania, from the wester section of the State, have decided to put Major A. M. Brown, of Pittsburg, in nomination in the Republican caucus for U. S. Senator, to succeed J. Donal Cameron. No more deaths have occurred from the Van Fassen poisoning at East Liverpool, Ohio, and it is now believed all the sick will recover. Annie Van Fassen, suspected of the poisoning, is sick in bed, and has not been arrested. It is reported from Saud Creek, Wyoming Territory, that on Saturday night a gang of cow boys visited the store and ranch of James Davis and "attempted to run the place." Davis fired at them, killing three. At a meeting of the Spanish Americans in New York, yesterday, it was decided to appoint a committee of twelve to receive contributions and arrange for entertainments in aid of the sufferers by the earthquake in Spain. There have been great floods in the Red River and its tributaries in Lou-ana. The Calcasieu river has been three feet higher than ever before known. It is said that at least 5000 head of cattle have perished. Two freight trains on the Chesapeake and Ohio Railroad collided on Saturday near Jackson river, Virginia. Both trains were wrecked, three brakemen were injured and an engineer and fireman kiiled. The Farmers' Bank of Elizabethtown, Lancaster County, Pa., suspended on Saturday, in consequence of a run by its depositors. Its liabilities are said to be about $80,000; assets unknown. Captain Charles W. Folger, only son of the late Secretary of the Treasury, died on Sunday in Geneva, New York, of consumption, at the age of 40 years. He leaves a widow and five children. There is an epidemic of malarial, intermittent and typhoid fevers in Kingston, New York. "No sewers and the open winter" are said to be the cause. There was a severe thunder storm, with vivid lightning, at Halifax, Nova Scotia, on Friday night. It lasted half an hour. The chair shop of Smith, Day & Co., at Baldwinsvillle, Masschusetts, was burned on Saturday morning. Loss, $50,000. The upper portion of Henry Martin's building, in Cincinnatti, was damaged by fire on Saturday morning to the extent of $20,000. The Louisville and Nashville Railroad station, in Nashville, was destroyed by fire on Saturday night. Loss, $150.000. J. G. Schmohl's wholesale dry goods store, in Galena, Illinois, was burned on Saturday night. Loss, $45,000; insurance, $25,000. A fire in Sioux City, Iowa, on Friday night, destroyed five stores, causing a loss of $60,000. The daily edition of the New York Star has been suspended; its Sunday edition is continued. The first drawing in Clark's series will take place Wednesday, January 28th. Come join at once. WILSONS'


Article from The Semi-Weekly Miner, January 14, 1885

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Bank Closed. LANCASTER, Pa., Jan. 10. - The Farmer's Bank, Elizabethtown, this county, owned by Samuel Eddy, closed its doors to-day caused by a run upon it early yesterday. It confessed judgment to various parties to the amount of $26,000. Liabilities aggregate $80,000, assets unknown, bat depositors lose heavy.


Article from The Wellington Enterprise, January 14, 1885

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a stirring speech, replete with reminiscences dear to the last generation. Resolutions of regret were adopted at the death of Thomas Darrach, the last President of the society, and a new board of officers was elected, headed by John Stallman as President. Major Rodnia Nutt, own brother to the more famous Commodore Nutt, and himself but four feet high, was married on the 8th to Clara Corfield, a pretty Boston maiden aged eighteen and of the ordinary size. The Carmichaels' manufacturing mills and four dwellings at Shannock, R. I., were destroyed by fire on the night of the 8th. Loss, $100,000. During the week ended the 9th the business failures reported throughout the country number for the United States 429, and for Canada 28, or a total of 457, which is far in excess of any previous chronicle for the same period of time. The increase is mostly in the South and West. Mr. Charles Taylor, (colored), who studied law at Harvard has been admitted to practice at the New York bar. Mr. Taylor is the second colored man ever admitted to that bar. A party of four boys broke through the ice while skating on a pond at Pottsville, Pa., on the 9th and were drowned. Two were sons of Albert Hoover and Jacob Kraus, and the other two were sons of a colored porter at the Merchant's Hotel at that place. The bodies were recovered. No news has been received of Captain Traynor and Fritz Federman, who sailed from St. Johns for Liverpool in the dory. They are now out 106 days. The wife of the Captain thinks he is lost. Charles W. Scofield, ex-President of the Utah & Pleasant Valley and the Wahsatch & Jordan railroads of Utah, was arrested at New York a few days ago on an indictment for obtaining money under false pretenses. The Red Ash Coal Company at Wilkesbarre, Pa., have suspended work at Nos. 1 and 2 collieries for an indefinite period, throwing nearly a thousand men and boys out of employment. Captain Charles W. Folger, only son of the late Secretary of the Treasury, died at Genevá, N. Y., on the 11th, aged forty. The Farmers' Bank of Elizabethtown, Pa., owned by Samuel Eady, closed its doors on the 10th. Mr. Eady confessed judgment to the amount of about $27,000. The bank's liabilities will probably aggregate $80,000. The assets are unknown but the depositors will lose heavily. The boiler of the steam tug Mike Dougherty exploded near Elizabeth, Pa., on the 10th, demolishing the vessel and instantly killing William Haller, steward, and William Matthews, deck-hand. Gardner Jackson, the Captain, was badly scalded, and two others of the crew slightly hurt. The following changes are shown in the statement of the New York associated banks for the week ended January 10: Loans decrease, $1,734,000; specie increase, $7,309,000; legal tenders increase, $2,422,000; deposits increase, $8,431,000; circulation decrease, $136,000; reserve increase, $6,723,000. The banks held $47,644,000 in excess of legal requirements. W. H. Vanderbilt, who obtained a judgment against General Grant for $150,000 lent him to ward off the failure of the Marine Bank, on the 10th bought in the real estate and presents of the General named in the bill of sale. He then presented the property to Mrs. Grant for her separate estate, but she declined to receive it. Mr. Vanderbilt wrote to Mrs. Grant saying that he desired to turn all the property over to her except that the swords and other testimonials received by General Grant should be presented to the Government as memorials of his fame, but she still refused to accept. Carnegie Bros. & Co.'s Union Iron Mill at Pittsburgh will soon resume in all departments, giving employment to several hundred men. "The World Travel Company,' with a capital of $250,000, was incorporated in New York on the 10th. The object of the company is to afford every facility to travelers in Europe and all parts of the world for their comfort and easy transportation.


Article from The Weekly Elko Independent, January 18, 1885

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The Farmers' bank at Elizabethtown Pa., suspended Saturday, leaving the depositors to hold the empty sack-as usual. A party of officers following Bob Sullivan, 21 cowboy, who kad killed anoth. r cowboy named Bob Roberts, at Miles City, Montana, came up with the fugitive at Burleigh Cabin, on Sandy creek, last week. The posse fired into the cabin, whi h was full of men women and children, and Sullivan returned the fire, and escaped in the confusion. Dr. Corbin and his infant son, whom he was carrying out of danger, were both killed, and several others wounded.


Article from Wood County Reporter, January 22, 1885

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LATEST TELEGRAMS. GENERAL NOTE: ROBERT BREWSTER, who was shot at New Orleans by the editor of the Mascot, died Tuesday. OWING to an important decision in favor of the company, Bell telephone stock advanced to 265 Tuesday at Boston, a gain of 15 points from the opening price. CONGRESS will be petitioned to make an appropriation to render the Wabash River navigable between Lafayette, Terre Haute, and the Ohio River. O'DONOVAN ROSSA asserts that President Arthur's allusion in his message to congress to dynamiters was inspired by information furnished him by Captain Phelan, and that the stabbing of the latter was a conspiracy hatched by England's agents in America. THE week's increase of the reserve of the New York banks amount to $7,623,000, and they now hold d total of $47,644,000 in excess of the legal requirement. THE Farmers' Bank, of Elizabethtow», Lancaster county, Pa, a private institution, has failed. Liabilities, $80,000 assets not given. THE Director of the New Orleans Exposition contradicts a report that its financial conditian is critical. He also denies the report that Congress is to be asked for an additional appropriatoin. HON. WILLIAM HALE, governor of the Territory of Wy ming, died at Cheyenne, at the age of 48. He was appoinged governor by President Arthur, August 3, 1882. His former residence was at Glenwood, Iowa. A BILL was introduced Thursday in the Minnesota senate, providing that any persons or corporations conspiring or combining to effect the value of cereals shall be fined $1,000 nor more than $10,000. JOHN J. CISCO & SON, bankers at New York, suspended Thursday afternoon and made an assignment withot preferences. The matter is considered to be more in the nature of liquidation than a failure, and depositors, it is said, will be paid in full. Reports that the firm was embarrassed caused a steady run, which led to the assignment to protect all creditors alike. A DISPATCH dated January 13 says: "Trains delayed thirty-six hours on the Iowa Division of the Illinois Central Road came in Wednesday. The snow blockade is the most serious that has occurred this winter. Drifts five feet deep were encountered. The road is pretty well cleared and no further trouble is looked for." THE Earl family, at Creston, Iowa, twelve persons in all, have shut themselves up in their house, hourly expecting the end of the world. They spend the time in poring over their Bibles; and fears are expressed that one of their number, a young girl, who is an "unbeliever," will be offered as a sacrifice. THE question which has agitated the Milwaukee public ever since the opening of the exposition in that city, whether to keep it open on Sundays, was decided Saturday night at the stockholders' meeting, in the negative. John Plankington decided the issue by casting his own 6,450 votes and 7,923 proxies against the proposition.


Article from Mineral Point Tribune, January 22, 1885

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LATEST TELEGRAMS. GENERAL NOTES. ROBERT BREWSTER, who was shot at New Orleans by the editor of the Mascot, died Tues OWING to an important decision in favor of the company, Bell telephone stock advanced to 265 Tuesday at Boston, a gain of 15 points from the opening price. CONGRESS will be petitioned to make an appropriation to render the Wabash River navigable between Lafayette, Terre Haute, and the Ohio River. O'DONOVAN ROSSA asserts that President Arthur's allusion in his massage to congress to dynamiters was inspired by information furnished him by Captain Phelan, and that the stabbing of the latter was a conspiracy hatched by England's agents in America. THE week's increase of the reserve of the New York banks amount to $7,623,000, and they now hold d. total of $47,644,000 in excess of the legal requirement. THE Farmers' Bank, of Elizabethtow*, Lancaster county, Pa, a private institution, has failed. Liabilities, $80,000 assets not given. THE Director of the New Orleans Exposition contradicts a report that its financial conditian is crivical. He also denies the report that Congress is to be asked for an additional appropriatoin. HON. WILLIAM HALE, governor of the Territory of Wy ming, died at Cheyenne, at the age of 48. He was appoin governor by President Arthur, August 8, 1882. His former residence was at Glenwood, Iowa. A BILL was introduced Thursday in the Minnesota senate, providing that any person: or corporations conspiring or combining to effect the value of cereals shall be fined $1,000 nor more than $10,000. JOHN J. CISCO & SON, bankers at New York, suspended Thursday afternoon and made an assignment witho-t preferences. The matter is considered to be more in the nature of liquidation than a failure, and depositors, it is said, will be paid in full. Reports that the firm was embarrassed caused a steady run, which led to the assignment to protect all creditors alike. A DISPATCH dated January 13 says: "Trains delayed thirty-six hours on the Iowa Division of the Illinois Central Road came in Wednesday. The snow blockade is the most serious that has occurred this winter. Drifts five feet deep were encountered. The road is pretty well cleared and no further trouble is looked for." THE Earl family, at Creston, Iowa, twelve persons in all, have shut themselves up in their house, hourly expecting the end of the world. They spend the time in poring over their Bibles; and fears are expressed chat GRe of their number, a young girl, who is an 'unbeliever," will be offered as a sacrifice. THE question which has agitated the Milwaukee public ever since the opening of the exposition in that city, whether to keep it open on Sundays, was decided Saturday night at the stockholders' meeting, in the negative. John Plankington decided the i-su- by casting his own 6,450 votes and 7,923 proxies against the proposition.


Article from The Kimball Graphic, January 23, 1885

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The New York Star has suspended. Sioux City's fire cost $62,000; insurance, $34,OUO. Mr. Parnell is said to be a lineal descendant of King Edward Capt. Phelan says he can prove that Rossa and Kearney are English spies. Congressman Rankin af Wisconsin, ill at Washington, is now out of danger. Sharon can't sell his Washington real estate without the consent of Sarah Althea. The North Chicago rolling mill has started up giving employment to 1,000 men. Professor Benjamin Silliman is ill at his home in New Haven with heart disease and dropsy. Hoffman, the disgraced Bloomington, Ill., preacher is to be put at the head of a large independent church. The chair shop of Smith, Day & Co., at Baldwinsville, Mass., burned. Loss, $30,000. Insurance, $12,000. A movement has been started to have Francis Murphy, the temperance apostle, locate permanently in Pittsburg. The Farmer's Bank of Elizabethtown, Pa, owned by Samuel Eady, closed its doors owing to a run upon it. Fred Do uglass will hold on to his place as recorder of deeds as long as he can, but has $150,000 to fall back upon. A Philadelphia court desides that license fees exacted from telegraph and telephone companies, under city ordiance, are illegal. Myra Clark Gains left two wills and there will be a fight over what is left of her estate. Ultimately, the lawyers will get it all. J. G. Schmohles' wholesale dry goods store, t Galena, III., was burned; loss on stock, $35,000; on building, $10,000; insurance, $25,000. The colored people of Philadelphia have purchased ground on which to erect an induatrial school for colored children at a cost of $100,000. It is said Lieut Garlington has been personally assured by the secretary of war that no action will be taken on the charges against him preferred by Hazen. At Dubuque, Henry Hofkemeyer fell through trap door a considerable distance, alighting on Iris head and cracking his skull There is no hope for his recovery. The project for the erection of a memorial church to Charles Reade, over which his nephew, Crompton Reade, shall be installed as fiert rector, 18 now well under way. The earnings of the Milwaukee & St. Paul for the first week of January aggregated $306,000, against $314,000 for the corresponding week in 1884, a decrease of $8,000. The contest over the will of the late Mrs. Valeria G. Stone of Malden, Mass. has ended in the state supreme court, by a disagreement of the jury, practically sustaining the will Capt. Stephen K. Mahon of the regular army, on the retired list, and during the Rebellion adjutant of the Thirty-sixth Iowa regiment, died in Ottumwa, Iowa, after a lingering iliness. The will of the late Andrew Erkenbrecker of Cincinnati makes a bequest of $10,000 to the German Protestant orphan asylum of Mount Auburn. The value of the estate is estimated at $1,000,000. Fire caught in the mule room of the Slade mills at Fall River. Sprinklers held the fire in check until the arrival of firemen, and in half