Martinsburg Deposit Bank (Martinsburg, PA)

Episode Information

Episode UID
3336435191164
Episode Type
Run → Suspension → Closure
Bank Type
trust
Bank ID
333643519 hash
Start Date
December 14, 1896
Location
Martinsburg, Pennsylvania (40.311, -78.324)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
3e010f29de96a712

Response Measures

None

Description

The bank was an unincorporated private partnership and a branch of the First National Bank of Hollidaysburg. It failed following a run on the parent institution and its own depositors.

Events (4)
1. December 14, 1896 Receivership
Newspaper Excerpt
A deed of assignment was recorded in the Blair county court this evening from the Martinsburg Deposit bank, of Martinsburg, this county, to its cashier, William S. Nicodeemus.
Source
newspapers
2. December 14, 1896 Run
Cause
Local Shock
Cause Details
Withdrawal of Pennsylvania Railroad deposits and subsequent refusal of banks to cash employee checks triggered a run by minor depositors.
Measures
Refused to cash checks of railroad employees.
Newspaper Excerpt
The result of this contention between the railway company and the banks was a steady run on the institutions by the minor depositors, and they succumbed this morning, after withstanding the run for seven days.
Source
newspapers
3. December 14, 1896 Suspension
Cause
Local Banks
Cause Details
Suspension of the parent bank, First National Bank of Hollidaysburg, following a heavy run.
Newspaper Excerpt
The Martinsburg Deposit bank, of Martinsburg... have also suspended business. These two banks are branches of the First National bank.
Source
newspapers
4. January 10, 1908 Other
Newspaper Excerpt
The depositors in the defunct Martinsburg, (Pa.), Deposit bank, recently received seven cents on the dollar after waiting ten years.
Source
newspapers

Newspaper Articles (21)
1. December 14, 1896 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, December 14, 1896

Click image to open full size in new tab

Article Text

THREE BANKS FAIL. One of the Original National Banks Has to Suspend. Hollidaysburg, Pa., Dec. 14.-The First National bank of this place, the oldest bank in this section, or the state and one of the original 57 national banks in the United States, suspended business this morning. The following notice was posted on the front door of the bank: "On account of the heavy drain upon this bank for the past thirty days, especially the last two or three days. the board of directors have decided to suspend business until further notice. (Signed.) THE BOARD OF DIRECTORS." The First National bank of Hollidaysburg was organized in 1863 with a capital of $50,000. Two other banks, at Martinsburg and Williamsburg failed as a result of the first failure. The Martinsburg Deposit bank was established in 1870. Colonel William Jack of Hollidaysburg is the president. The bank had a capital of $25,000. The Williamsburg bank is controlled by Jack and Watson. Warren & Co., of which Colonel William Jack has been president and John Clark of Williamsburg cashier. It was established in 1873 with a capital of $30,000. The officials of the bank say that the suspension is only temporary and that the three banks will be opened without any financial loss to the depositors after the work of reorganization is completed.

2. December 14, 1896 Las Vegas Daily Optic Las Vegas, NM
Article from Las Vegas Daily Optic, December 14, 1896

Click image to open full size in new tab

Article Text

Highest of all in Leavening Strength.-Latest U. S. Gov't Report. Baking Powder ABSOLUTELY PURE Three Banks Suspend. BUSINESS POINTERS. PITTSBURG, Pa., December 14 The First National bank, of Hollidays. Macbeth Water cures stoma burg, suspended business, this morn. troubles. 209 ing, ow ng to the heavy run made by is depositors. This bank was organized in 1863, and was capitalized at Walter Dearden, assayer and chem $50,000 It is one of the oldest naTrinidad, Colo. 187tional banks in the United States. The excitement over the closing of the bank If you want to buy or sell anything has been intensified by the naws that the second-hand goods line call on the Martinsburg Deposit bank, of Mar. Kaufman, third door east of the old to tinsburg, and the Williamsburg bank, 269postoffice of Williamsburg, have also suspended business. These two banks are branches Buy a useful Xmas present for your of the First National bank. a fine steel range, and she will bless The total capital of the three instituevery day in the year: a carving set tions was about $100,000. Officials prevent cruelty to animals; a pair skates to suit young and old; a pock say the suspension is only temporary knife for the boys; a toy steel range and that the three banks, will be rethe girls; a tine razor for hubby, and opened, without financial difficulties, will be happy, likewise. The old to bard ware store, where you can select after the work of re-organization is those presents cheaper than any where e completed. including a guarantee as to quality.

3. December 14, 1896 The Evening Herald Shenandoah, PA
Article from The Evening Herald, December 14, 1896

Click image to open full size in new tab

Article Text

BANKS SUSPEND. A Failure That Affects Hollidaysburg, Martinsburg and Williamsport. Special to EVENING HERALD. HOLLIDAYSBURG, Dec. 14, 1 p. m.-The First National Bank of this place suspended payments this morning. The failure produced the greatest excitement and the announcement precipitated the failure of the Martinsburg Deposit Bank, of Martinsburg, and Williamsport Bank, of Williamsport.

4. December 14, 1896 The Providence News Providence, RI
Article from The Providence News, December 14, 1896

Click image to open full size in new tab

Article Text

Keystone. State Institutions Go to the Wall. First National Bank of Holidaysburg First to Close. Institutions at Martinsburg and Williamsburg Follow. HOLIDAYSBURG, Penn., Dec. 14.-The First National bank of this place, the oldest bank in this section of the State, and one of original 75 National banks in the United States suspended business this morning. The first notice was posted on the front door of the bank as follows: On account of the heavy strain on this bank for the past 30 days and especially the last two or three days the board of directors have decided to suspend business until further notice. (signed) THE BOARD OF DIRECTORS. The closing of, the First National bank has precipitated the failure of the Martinburg Deposit bank of Martinsburg, and the Willimsburg bank of Williiamsburg, both in this county. The two banks are unincorporated and are controlled by the stockholders of the First National bank. The failures of these banks have caused great excitement. The First National Bank of Holidaysburg was organized in 1863 with a capital of $50,000. Its officers are AS follows: President, William R. Babcock, Cuberland, Md.; vice president William P. Smith; cashier, Hartley H. Jacks: directors, W. R. Babcock; Colonel William Stone, J. D. Hemphill, Colonel William Jack, and W. S. Nicodemus. The Martinsburg Deposit Bank was established in 1870. Colonel William Jack of Hollidaysburg is the president and W. S. Nicodemus of Martinsburg is the cashier. The bank had a capital of $20,000. The Williamsburg bank is controlled by Jack, Blair, Watson, Morrow & Co., of which Colonel William Jack has been president and Hon. John Clark of Williamsburg, cashier. It was established in 1873 capital of $30,000. The official of the banks say that the suspension is only temporary and that the banks will reopen without any financial loss to depositors.

5. December 14, 1896 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, December 14, 1896

Click image to open full size in new tab

Article Text

More Prosperity. Hollidaysburg, Pa., Dec. 14.-The First National bank of this place, the oldest bank in this section, one of the original 57 national banks in the United States, suspended this morning on account of heavy drawing on funds in the past few days. Two other banks at Martinsburg and Williamsburg failed as a result. The Hollidaysburg bank had $50.000 capital, the Martinsburg de posit bank $25,000, and the Williamsburg bank $30,000.

6. December 14, 1896 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, December 14, 1896

Click image to open full size in new tab

Article Text

BUSINESS SUSPENDED. An 014 Banking Institution in Pennsylvanta. HOLLIDAYBURG, Pa., Dac. 14-The First national bank, the oldest in this section of the state and one of the original fifty-seven national banks of the United States, suspended business this morning. The following notice was posted: "On account of heavy drain upon this bank the past thirty days. espectally the last two or three days, the board of directors have decided to suspend business until further notice." The First National bank of Hollidaysburg had a capital of $50,000. The bank at Martinsburg and W illameburg failed as a result of the failure of the Hollidaysburg bank. Martinsburg Deposit bank was established in 1870. Colonel William Jack of Holituaysburg is president. The bank had a capital of $25,000. The Williamsburg bank is controlled by Jack and Watson Morrow & company. Colonel William Jack has been president and John Clark of Williamsburg cashier. It was established in 1873 with a capital of $30,000. The officials say the three banks will be re-opened without loss to the depositors after the reorganization has been completed. NEW YORK, Dec. 14.-The failure of Jonn Colline & Sons was announced on the cotton exenange today. W. D. Roundtree & Co. announced the failure on the cotton exchange this alternoon. Neither failure effected the market. EDWARDSVILLE, III., Dec. 14-The banking house John A. Prickett & Sons suspended today making an BH. signment to C. N. Travous and E. D. Gillespie. The causej assigned are heavy withdrawals and long continued illness of the head of the establishment. The expectation of ultimately paying the liabilities in full is expressed. The failure was entirely unexpected and caused a profound eensation.

7. December 14, 1896 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, December 14, 1896

Click image to open full size in new tab

Article Text

Bank Failures. HOLLIDAYSBURG, Pa., Dec. 14.The First National Bank of Hollidaysburg was compelled to suspend busi ness this morning owing to a heavy run made by its depositors. The Martinsburg Deposit Bank, of Martinsburg, and the Williamsburg Bank, of Wil liamsburg, have also suspended business. These two banks were branches of the First National Bank and were unincorporated.

8. December 15, 1896 New-York Tribune New York, NY
Article from New-York Tribune, December 15, 1896

Click image to open full size in new tab

Article Text

PENNSYLVANIA BANKS SUSPEND. THE FIRST NATIONAL OF HOLLIDAYSBURG AND TWO BRANCH INSTITUTIONS CLOSED. Hollidaysburg, Penn., Dec. 14.-The First National Bank of Holidaysburg was compelled to suspend business this morning. owing to a heavy run made by its depositors. This bank was organized in 1863, is capitalized at $50,000, and is one of the fifty-seven oldest National banks in the United States. The foilowing notice, signed by the Board of Directors, was posted on the front of the bank this morning: On account of the heavy drain upon this bank for the last thirty days. and especially the last two or three days, the Board of Directors have decided to suspend business until further notice. The excitement over the closing of the bank was soon intensified by the reception of the news that the Martinsburg Deposit Bank, of Martinsburg, and the Williamsburg Bank, of Williamsburg. had also suspended business. These two banks were branches of the First National Bank and were unincorporated. The Martinsburg Deposit Bank was established in 1870. Colonel William Jack, of Hollidaysburg. is the president, and W. S. Nicodemus, of Martinsburg, is the cashier. The bank employed a capital of $25,000. The Williamsburg Bank is controlled by Jack, Blair, Watson, Morrow & Co., of which Colonel William Jack has been president and John Clark. of Williamsburg, cashier since its establishment in 1873. A capital of about $30,000 is used. The First National Bank of Hollidaysburg was organized in 1863, with a capital of $50,000. It is officered as follows: President, William R. Babcock, of Cumberland, Md.: vice-president, William P. Smith: cashier, Hartley H. Jack: directors, W. R. Babcock, Colonel William Stone. J. D. Hemphill, Colonel William Jack and W. S. Nicodemus. The officials say that the suspension is only temporary. and that the three banks will be reopened without any financial loss to the depositors after the work of reorganization is completed. The New-York correspondents of these banks were Winslow. Lanier & Co., who had no information yesterday as to the cause of the failure. The Hollidaysburg bank, according to a report of its condition made last summer, had a surplus of $7,000 and deposits of $160,540. A number of small banks throughout the country have failed recently. The president of a leading New-York bank said these failures had no special significance. The banks had doubtless been weak for some time, and had hung on In the hope that brightening business prospects might help them out. Help did not come soon enough. and they gave up.

9. December 15, 1896 The Times Richmond, VA
Article from The Times, December 15, 1896

Click image to open full size in new tab

Article Text

BUSINESS TROUBLES, Three Banks Go Under in Pennsylvania Other Failures. HOLLIDAYSBURG, PA., December 14. -The First National Bank of Hollidays= burg was compelled to suspend business this morning, owing to a heavy run made by depositors. This bank was organized in 1863, was capitalized at $50,000. and is one cf the fifty-seven oldest national banks in the United States. The 101lowing notice was posted on the front of the bank this morning: "On account of a heavy drain upon this bank for the past thirty days, and especially the last two or three days, the Board of Directors have decided to suspend business until further notice." Excitement over the closing of the bank has been intensified by the reception of the news that the Martinsburg Deposit Bank, of Martinsburg. and the Williamsburg Bank, of Williamsburg, also suspended business. These two banks were branches of the First National Bank and were unincorporated EDWARDSVILLE, ILL., Dec. 14.-The banking house of John A. Prickett & Son, of this city, made an assignment to-day. The causes assigned in the notice posted are heavy cash withdrawals during the panic time and the long continued illness of the senior partner. The assets and liabilities are not stated. JACKSON, MISS., Dec. 14.-The DavisEllis Company one of the biggest mercan. tile firms in this part of the State, doing business at Terry and Steen's Creek filed an assignment here to-day. placing assets at $70,000 and liabilities at $40,000. Jackson and Capital State Banks of this city, are preferred for $5,000 and $6,000. respectively. Other, preferred creditors are home people. there being about one hundred mentioned in sums from $800 to $400 each. Low price of cotton and poor collections are given as the reason of the failure. W. H. Barnes and J. W. Grantham are assignees.

10. December 15, 1896 Kansas City Daily Journal Kansas City, MO
Article from Kansas City Daily Journal, December 15, 1896

Click image to open full size in new tab

Article Text

PENNSYLVANIA BANKS FAIL. Three Institutions Fail as the Result of a Contention With a Railroad Company. Hollidaysburg, Pa., Dec. 15.-The First National bank, of this place, the oldest bank in this section of the state, and one of the original fifty-seven national banks in the United States, suspended business this morning on account of heavy withdrawals of deposits. The bank was organized in 1863, with a capital of $50,000. Two other banks, at Martinsburg and at Williamsburg, failed as a result of the first failure. The Martinsburg Deposit bank was established in 1870. Colonel William Jack, of Hollidaysburg, is the president. The bank had a capital of $25,000. The Williamsburg bank is controlled by Jack and Watson, Morrow & Co., of which Colonel William Jack has been president and Hon. John Clark, of Williamsburg, cashier. It was established in 1873, with a capital of $30,000. The officials of the bank say that the suspension is only temporarily, and that the three banks will be reopened without any financial loss to the depositors after the work of reorganization is completed. The closing of the bank. it is said, was due principally to the withdrawal of the deposits of the Pennsylvania railroad ten days ago. The banks retaliated by refusing to cash the checks of railroad employes when they were presented. The Pennsylvania Railroad Company last week ran their pay car over the several branches centering here. There was a banking department aboard the car and the employes received their money without going to the banks. The result of this contention between the railway company and the banks was a steady run on the institutions by the minor depositors, and they succumbed this morning. after withstanding the run for seven days. The average deposits in the three banks was $450,000.

11. December 15, 1896 The Wilmington Daily Republican Wilmington, DE
Article from The Wilmington Daily Republican, December 15, 1896

Click image to open full size in new tab

Article Text

National Bank Suspends. HOLLIDAYSBURG, Pa., Dec. 15.-The First National bank, of this place, one of the original fifty-seven national banks in the United States, suspended business yesterday. The closing of the First National bank has precipitated the failures of the Martinsburg Deposit bank, of Martinsburg, and the Williamsburg bank, of Williamsburg, both of this county. The failures have produced great excitement.

12. December 15, 1896 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, December 15, 1896

Click image to open full size in new tab

Article Text

OWING TO A HEAVY RUN. Failure of the First National Bank of Hollidaysburg, Pa. PITTSBURG, PA., Dec. 14.-The First National Bank of Hollidaysburg suspended business this morning, owing to a heavy run made by its depositors. This bank was organized in 1863, and capitalized at $50,000. It is one of the oldest national banks in the United States. The excitement over the closing of the bank has been intensified by the news that the Martinsburg Deposit Bank of Martinsuurg and the Williamsburg Bank of Williamsburg have also suspended business. These two banks are branches of the First National Bank. The total capital of the three institutions is about $100,000. The officials say the suspension is temporary and that the three banks will be reopened without financial difficulties after the work of reorganization is completed.

13. December 15, 1896 The Copper Country Evening News Calumet, MI
Article from The Copper Country Evening News, December 15, 1896

Click image to open full size in new tab

Article Text

New line of teachers' bibles and albums at the book auction. Bank Suspends Business. Hollidaysburg, Pa., Dec. 15.-The First National bank of this place, the oldest bank in this section of the country, and one of the original fifty-seven national banks in the United States, suspended business Monday morning. The following notice was posted on the door of the-bank: On account of the heavy drain upon this bank for the past thirty days, and especially the last two or three days, the board of directors have decided to suspend business until further notice." The Martinsburg Deposit bank and the Williamsburg bank also failed. They are unincorporated and controlled by the stockholders of the First National bank. citement. The failures produced great ex-

14. December 15, 1896 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, December 15, 1896

Click image to open full size in new tab

Article Text

DAY'S LIST OF FAILURES Includes that of one of the "Original" National Banks, Hollidaysburg, Pa., Dec. 14.-The First National bank of this place, the oldest in this section of the state and one of the original fifty-seven national banks in the United States, suspended business this morning. The following notice was posted on the front door of the bank: "On account of the heavy drain upon this bank for the past thirty days, especially the last two or three days, the board of directors have decided to suspend business until further notice. (Signed.) "BOARD OF DIRECTORS." The First National bank of Hollidays. burg was organized in 1863 with a capital f $50,000. Two other banks, at Martinsburg and Williamsburg, failed as a result of the first failure. The Martinsburg Deposit bank was established in 1870. Colonel William Jack of Hollidaysburg is the president. The bank had a captial of $25,000. The Williamsburg bank is controlled by Jack, Watson, Morrow & Co., of which Colonel William Jack has been president and Hon. John Clark of Williamsburg cashier. It was established in 1873 with a captial of $30,000. The officials of the bank say that the suspension is only temporary and that the three banks will be reopened without any financial loss to the depositors after the work of reorganization is completed. The closing of the Hollidaysburg, Martinsburg and Williamsburg banks, it is Isaid, was due principally to the withdraw al of the deposits of the Pennsylvania railroad ten days ago. The banks all retaliated by refusing to cash the checks of the railroad employes when they were presented. The Pennsylvania railroad company last week ran their pay car over the several branches centering here. There was a banking department aboard the car and the employes received their money without going to the banks. The result of this contention between the railway company and the banks was a steady run on the institutions by the minor depositors and they succumbed this morning, after withstanding the run for seven days. The average deposits in the three banks was $450,000. The banks have been distrusted in financial circles since September 18, last. On that date the private banking house of Gardner, Morrow & Co., of this city, failed, with libillities of $325,000 and assets, so far as ascertained, of $92,000. The intimate relations existing between the four banks, the fact that they were main

15. December 15, 1896 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, December 15, 1896

Click image to open full size in new tab

Article Text

ly officered and controlled by the same people, and the additional circumstances that between $60,000 and $75,000 worth of securities was removed to the First National bank from the private bank before its failure, aroused suspicion. The National bank, of course, claimed that these securities were given them for cash balances due on the exchange of checks. A deed of assignment was recorded in the Blair county court this evening from the Martinsburg Deposit bank, of Martinsburg, this county, to its cashier, William S. Nicodeemus. The bank was a private partnership with a paid up capital of $25,000. Its assets will aggregate $200,000. The Williamsburg bang, of Williamsburg, this county, assigned to its cashier, John Clark. This bank is unincorporated with a paid up capital of $27,000. Its mercantile rating is $275,000. Edwardsville, Ill., Dec. 14.-The banking house of John A. Prickett & Son in this city suspended today, making an assignment to C. N. Travos and E. D. Gillespie. The cause assigned in the notice posted are heavy cash withdrawals during the panic times and long continued illness of the head of the establishment. The expectation of ultimately paying liabilities in full is expressed. The failure was entirely unexpected and has caused a profound sensation, as the bank was largely patronized locally. New York, Dec. 14.-The failure of John Collins & Sons was announced on the cotton exchange today and the firm of W. D. Rountree & Co., announced their failure on the cotton exchange this afternoon. Neither this nor the Collins failure affected the market. Chicago, III., Dc. 14.-The Filip & Raichart Manuacturing company, manufacturers of sash, doors and blinds, made an assignment to John P. Hand today. Assssets, $30,000; liabilities, $28,000.

16. December 15, 1896 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, December 15, 1896

Click image to open full size in new tab

Article Text

BUSINESS DIFFICULTIES. HOLIDAYSBURG. Pa., Dec. 14.-The First National bank of this place, the oldest bank in this section of the state, and one of the original fifty-seven banks in the United States, suspended this morning. Two other banks, at Martinsburg and Williamsburg, failed as 8. result of the first failure. The Martinsburg Deposit bank was established in 1870. Col. William Jack, of Hollidaysburg, is the president. The bank had a capital of $25,000. The Williamsburg bank is controlled by Watson, Morrow & Co. It was established in 1873, with a capital of $30,000. The closing of the banks, It is said, was due principally to the withdrawal of the deposits of the Pennsysvania railroad company ten days ago. The total of deposits in the three banks was $450,000. The banks have been distrusted in financial circles since Sept. 18 last. On that day the private banking house of Gardner, Morrow & Co., of this city, failed, with liabilities of $325,000 and assets so far as ascertained, of $92,000. The intimate relations existing between the four banks, the fact that they were mainly officered and controlled by the same people, and the additional circumstances that between $60,000 and $75,000 worth of securities was removed to the First National bank from the private bank before its failure aroused suspicion. The national bank officers claimed that these securities were given them for cash balances due on the exchange of checks. A deed of assignment was recorded in the Blair county court this evening from the Martinsburg Deposit bank of Martinsburg, this county, to its cashier, Wm. S. Nicodemus. The bank was a private partnership with a paid up capital of $25,000. Its assets will aggregate $200,000. The Williamsburg bank, of Williamsburg, this county, assigned to its cashier, John Clark. This bank is unincorporated with a paid up capital of $27,000. Its merchant rating is $175,000. New York, Dec. 14.-The firm of W. D. Rountree & Co. announced their failure on the cotton exchange this afternoon. Neither this nor the Collins failure affected the market. Edwardsville, III., Dec. 14.-The banking house of John A. Prickett & Sons, in this city, suspended today, making an assignment to S. N. Travous and E. D. Gillespie. Chicago, Dec. 14.-The Filip & Rachart Manufacturing company, manufacturers of sash, doors and blinds, made an assignment to John R Hand today. Assets, $30,000; liabilities, $28,000. WALL STREET TALK. The entire $3,200,000 issue of Louisville & Nashville refunding bonds put on the open market the latter part of the preceding week has been sold to investors in various parts of the country. A syndicate of New York bankers made a good thing on the deal, as they purchased the whole issue at par and sold out for prices ranging from 102 to 105. Sugar will sell ex-dividend tomorrow. The Standard Oil people have been making large loans on this specialty. Big Four earnings for the first week in December decreased $1,451. Edison Illuminating company shows an increase for November of $39,680. President Depew says the Vanderbilts have not had a controlling interest in the New York Central since 1880. A break in cotton and some troubles among the cotton houses attracted some attention in Wall street, mainly because the market had nothing else to talk about. The occurrence in question is a direct result of a break in the price of cotton. That rate of discount in London open market advanced 1/8 today, to 31/4 per cent. NEW YORK MONEY. NEW YORK, Dec. 14.-Money on call easy at 11/4@2 per cent; last loan, 1½, closed at 1½ @2 per cent. Prime mercantile paper, 4@5 per cent. Sterling exchange firmer, with actual business in bankers' bills $4.86%@4.87 for demand, and $4.83%@4.84 for sixty days. Posted rates, $4.84½ and $4.871/2@4.88. Commercial bills, $4.821/2. Bar silver, 65%o. Silver certificates, 65%@65%c. FOREIGN FINANCIAL. NEW YORK. Dec. 14.-The Evening Post's London financial cablegram: The stock markets were idle and dull today, except for Kaffirs. Americans sagged all day because of the absence of business, and the lower New York prices. The close was at the lowest. Consols were flat on the continental demands for gold. PLAN UNDESIRABLE. NEW YORK, Dec. 14.-Messrs. J. P. Stewart, Edward King and Alexander E. Orr, of the committee under the trust debenture of the Union Pacific railway company, have issued a circular to the holders of Union Pacific collateral trust notes stating that in the opinion of the committee, he proposed plan of reorganizaion is undesirable. BANK CLEARINGS. St. Paul-$837,842.67. Minneapolis-$1,675,084.64. New York-Clearings, $79,497,359; balances, $4,341,648. Boston-Clearings, $13,800,397; balances, $2,122,375. CHICAGO MONEY. CHICAGO, Dec. 14.-Money steady, unchanged. New York exchange 50c premium. Foreign exchange firm; demand, $4.86%; sixty days, $4.84.

17. December 15, 1896 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, December 15, 1896

Click image to open full size in new tab

Article Text

TROUBLES IN THE BUSINESS WORLD. One of Pennsylvania's Oldest National Banks Closes Its Doors. HOLLIDAYSBURG, Pa., Dec. 14.-The First National bank of this place, the oldest bank in this section of the state and one of the original fifty-seven national banks in the United States, suspended business this morning. The following notice was posted on the front door of the bank: "On account of the heavy drain on this bank for the past thirty days, especially the last two or three days, the board of directors has decided to suspend business until further notice." The First National bank of Hollidaysburg was organized in 1863 with a capital of $50,000. The other banks, at Martinsburg and Williamsburg, failed as a result of the first failure. The Martinsburg deposit bank was established in 1870. Colonel William Jack of Hollidaysburg is the president. The bank had a capital of $25,000. The Williamsburg bank is controlled by Jack & Watson, Morrow & Co., of which Colonel William Jack has been president and Hon. John J. Clark of Williamsburg cashier. It was established in 1873 with a capital of $30,000. The officials of the bank say that the suspension is only temporary, and that the three banks will be reopened without any financial loss to the depositors after the work of reorganization is completed. NEW YORK, Dec. 14.-The failure of John Collins & Sons was announced on the cotton exchange today. The failure had no effect on the market. NEW YORK, Dec. 14.-The firm of W. D. Rountree & Co., announced their failure in the cotton exchange today. Neither this or the Collins failure affected the market. EDWARDSVILLE, III., Dec. 14.-The banking house of John A. Prickett & Son in this city, suspended today, making an assignment to C. N. Travous and E. D. Gillespie. The causes assigned in the notice posted are heavy withdrawals during the panic times and long continued illness of the head of the establishment. The expectation of ultimately paying libabilities in full is expressed. The failure was entirely unexpected and has caused a profound sensation, as the bank was largely patronized locally.

18. December 16, 1896 The Somerset Herald Somerset, PA
Article from The Somerset Herald, December 16, 1896

Click image to open full size in new tab

Article Text

Serious Financial Troubles at Hollidaysburg Hollidaysburg, Pa. Dec. 14.-The following notice was posted on the front door of the First National bank at 8:30 this morning: "On account of the heavy drain upon this bank for the past 30 days, and especially the last two or three days, the Board of Directors have decided to suspend business until further notice." Signed by Board of Directors. The First National bank is the oldest national bank in this section of the State, and one of the 57 original national banks in the United States. Its closing has precipitated the failure of the Martinsburg Deposit bank, of Martinsburg, this county, and of the Williamsburg bank, of Williamsburg, this county. These two banks were incorporated and controlled by the stockholders of the First National bank.

19. December 17, 1896 Delaware Gazette and State Journal Wilmington, DE
Article from Delaware Gazette and State Journal, December 17, 1896

Click image to open full size in new tab

Article Text

THREE BANKS IN TROUBLE. Business Failures at Hollidaysburg, Martinsburg and Williamsburg. Hollidaysburg, Pa., Dec. 14.-The First National Bank, the oldest national bank in this section of the State, and one of the original 57 national banks in the United States, suspended business this morning. The following notice was posted on the front door of the bank: "On account of the heavy drain upon this bank for the last 30 days, and especially the last two or three days, the board of directors have decided to suspend business until further notice. "The Board of Directors." The closing of the First National Bank has precipitated the failure of the Martinsburg Deposit Bank of Martinsburg and the Williamsburg Bank of Williamsburg. These two banks are unincorporated and controlled by the stockholders of the First National Bank. The failure of these banks has pr duced great excitement.

20. December 19, 1896 Pullman Herald Pullman, WA
Article from Pullman Herald, December 19, 1896

Click image to open full size in new tab

Article Text

FOUR EASTERN BANKS GO DOWN. Three in Pennsylvania and One in Illinois. Holl daysburg, Pa., Dec. 14.-The First National bank, the oldest in this section of the state, and one of the original 57 national banks of the United States, suspended business this morning. The following notice was posted: On account of a heavy drain upon this bank the past 30 days, especially the ast two or three days, the board of directors have decided to suspend business until further notice." The bank had a capital of $50,000. The banks at Martinsburg and Williamsburg failed as a result of the failure of the Hollidaysburg bank. The Martinsburg deposit bank was established in 1870. Colonel William Jack of Hollidaysburg is president. It had a capital of $25,000. The Villiamsburg bank is controlled by Jack and Watson Morrow. Colonel William Jack has been president and John Clark of Williamsburg cashier. It was established in 1873, with a capital of $30,000. The officials say the three banks will be opened without loss to the depositors, after reorganization is completed. An Illinois Bank. Edwardsville, Ill., Dec. 14.-The banking house of John A. Prickett & Son sus. pended today, making an assignment to C. N. Traveus and E. D. Gillespie. The cause assigned is heavy withdrawals and the long continued illness of the head of the establishment. An expectation of ultimately paying liabilities in full is expressed. The failure was entirely unexpected, and caused a profound sensation. On Trial for Fraud. Denver, Dec. 14.-The trial of Charles O. Dow, Sidney McClenken and O. O. Miller, charged with frauds in connection with the failure of the Commercial National bank of this city in 1893, was begun in the United States district court before Judge Hallett. On the Cotton Exchange. New York, Dec. 14.-The failure of John Collins & Sons was announced on the cotton exchange this afternoon. The failure did not affect the market.

21. January 10, 1908 Yorkville Enquirer York, SC
Article from Yorkville Enquirer, January 10, 1908

Click image to open full size in new tab

Article Text

FRIDAY, JANUARY 10, 1908. # MERE-MENTION. Jesse Pender, a negro, was the first man convicted of violating the Georgia prohibition law in Atlanta. He was sentenced to imprisonment for one year.... It is understood that all of the present employes of the Seaboard Air Line have been retained in their respective positions... Both houses of congress convened last Monday to resume work that was suspended on account of the holidays.......Governor Glenn has called an extra session of the North Carolina legislature for the purpose of further considering the rate law......Charles W. Whitney, of the banking firm of H. N. Whitney & Sons, New York, committed suicide in that city last Wednesday. The Atlantic coast has been swept by a fierce storm within the past few days.... The Chicago Great Western railway was placed in the hands of receivers Wednesday. .... A schooner was lost off Diamond Shoals Wednesday together with five members of the crew. F. Augustus Heinze has been arraigned in the United States court on the charge of over certifying checks of the Mercantile National bank. ..Governor Wilson of Kentucky has ordered out troops to protect the property of the tobacco districts against the night riders...... The Illinois Central railroad has dropped four thousand names from its pay rolls. .... Richard A. Ballinger, commissioner of the general land office, has resigned......A man named Anson Huggins was fined a thousand dollars the other day for systematically giving away small bottles of liquor in Athens, Ga...... The secretary of war has been authorized and required to properly mark and protect the graves of the American soldiers who fell in the battle of New Orleans and in the fighting of 1812-14.... The Amoskeag corporation at Manchester, N. H., has announced the shutting down of work on Fridays and Saturdays of each week. Eighteen thousands hands are affected in sixteen mills......Democrats and Republicans of Georgetown, Ky., are signing a petition asking Governor Wilson to grant -a pardon to Caleb Powers.... The depositors in the defunct Martinsburg, (Pa.), Deposit bank, recently received seven cents on the dollar after waiting ten years... Martial law prevails at Muncie, Ind., as the result of the strike of electric car workers...... A Middletown, N. Y., man attempted suicide a few days ago by pouring molten lead in his ear. He will die... George Dixon, a negro, said to be the greatest prize fighter of his time and former featherweight champion, died in New York last Monday. The steamer, Mount Royal, from Antwerp, December 7th, for St. John, N. B., has turned up at Queenstown.... Five white men were seriously injured at Bryson City, N. C., Tuesday, in a race riot. The county court house and all records were destroyed by fire....The National City Bank of New York, estimates that $276,000,000 were hoarded during the recent panic... Senator Knox of Pennsylvania, has introduced an employer's liability bill in congress, which is intended to remedy the defects in the old law which was recently declared unconstitutional by the United States supreme court.