Union National Bank (Mahanoy City, PA)

Episode Information

Episode UID
399701106
Episode Type
Run Only
Bank Type
national
Bank ID
39970 national
Charter Number
3997
Start Date
February 26, 1892
Location
Mahanoy City, Pennsylvania (40.813, -76.142)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
ae97a250b0895044

Response Measures

Accommodated withdrawals

Events (2)

1. March 26, 1889 Chartered
Source
historical_nic
2. February 26, 1892 Run
Cause
Rumor Or Misinformation
Cause Details
A false rumor (origin unknown) circulated that the bank had failed; depositors withdrew funds but stopped when they found the report baseless.
Measures
Depositors' demands were promptly paid; officers declared they could meet all demands.
Newspaper Excerpt
A false rumor started by an unknown person caused a run on the Union National Bank of Mahanoy City to-day, but the depositors soon found out there was nothing in the report, and it was stopped.
Source
newspapers

Newspaper Articles (9)

Article from The World, February 27, 1892

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Article Text

Bank Scare in Pottsville. POTTSVILLE, Pa., Feb. 27.-A run on the Union National bank of Mahanoy City took place yesterday and caused considerable excitement in financial circles. It is not known how the rumor originated, but it got abroad that the Union National was shaky, and a large crowd of small depositors presented themselves at the bank and demanded their money. It was promptly handed out to them. There is no cause for alarm.


Article from The Wilmington Daily Republican, February 27, 1892

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Article Text

Bank Scare in Pottsville. POTTSVILLE, Pa., Feb. 27.-A run on the Union National bank of Mahanoy City took place yesterday and caused considerable excitement in financial circles. It is not known how the rumor originated, but it got abroad that the Union National was sbaky, and a large crowd of small depositors presented themselves at the bank and demanded their money. It was promptly handed out to them. There is no cause for alarm.


Article from The Morning Call, February 27, 1892

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Article Text

Run on a Bank. POTTSVILLE, Pa., Feb. 25. -A false umor, started by an unknown person, caused a run on the Union National Bank of Mahanoy City to-day, but the depositors SOOD found there was nothing in the report and stopped.


Article from The Indianapolis Journal, February 27, 1892

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Article Text

Business Embarrassments. POTTSVILLE. Pa., Feb. 26.-There was a run on the Union National Bank, of Mahonev City, to-day, but the depositors found, after a comparatively small sum had been paid ont, that there was nothing in the report which bad been circulated to the effect that the bank had failed. Deposits were promptly handed over when demanded, and the officers of the bank declared they were prepared to meet all demands. No one knows how the rumor started. The Union National Bank has a paid-up capital of $100,000, with deposits amounting to more than double that figure. PITTSBURG. Feb. 26.-W. A. Lore, a citizen of Missouri, has filed a bill in equity in the United States Court asking for the appointment of a receiver of the Saltsburg Coal Company. The plaintiff is a stockholder and claims that the capital stock is $500,000. and that no dividends have been paid since 1887. He alleges fraud. CINCINNATI, Feb. 26.-A. Spiegler & Co., tanners, in the northwestern part of the city, assigned to-day to Otto Pfleger and Jacob Hurlscher. Assets and liabilities are about equal. and are estimated at $75,000. NEW YORK, Feb. 26.-Schedules in the assignment of Joseph W. Carroll, manufactnrer of advertising novelties, to Arthur Smith. state liabilities, $119,174; nominal assets, $32,848 and actual assets, $20,259. NASHVILLE, Tenn., Feb. 26.-The Sheffield (Ala.) Savings and Trust Company has assigned. The deposits are $20,000 and the assets are said to be above liabilities.


Article from The Seattle Post-Intelligencer, February 27, 1892

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Article Text

Business Troubles. POTTSVILLE, Pa., Feb. 26-A false rumor. started by nn unknown person, caused a run on the Union National bank of Mahonoy City today, but the depositsrs soon found out there was nothing in the report and stopped. BOSTON, Feb. 26,-A Journal special says the New Market Savings bank, of New Market, N. H., has suspended. The cause is unfortunate investments in real estate. The deposits are about $191,000. The bank will be closed up. DENVER, Feb. 26.-The Western Farm Mortgage Trust Company has filed its annual report in the district court. It shows a capital stock of $8,000,000, of which it is alleged two-filths was paid-in stock, being paid in by the surrender of an equal amount of stock in the Western Farm Mortgage Loan Company, of Lawrence, Kan., and the debts amount to $2,303,072. CINCINNATI, Feb. 26,-Spiegier & Co., tanners,


Article from Pittsburg Dispatch, February 27, 1892

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Article Text

A Rumor Starts a Run on a Bank. POTTSVILLE, Feb. 26.-There was a slight run on the Union National Bank, of Mahanoy City, to-day, but the depositors soรณn found that there was nothing in the report that the bank had failed. Deposits were promptly handed over, and the officers declared they were prepared to meet all demands. No one knows how the malicious rumor started.


Article from The Salt Lake Herald, February 27, 1892

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Article Text

A False Rumor Starts a Run on a Bank. POTTSVILLE, Pa, Feb. 26.- A false rumor started by an unknown person, caused a run on the Union National bank of Mahanony City to-day, but depositors soon found out there was nothing in the report, and it was stopped.


Article from Los Angeles Herald, February 27, 1892

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Article Text

Banks in Trouble. BOSTON, Feb. 26.-A Journal special says the Newmarket savings bank, of Newmarket, N. H., has suspended. The cause was unfortunate investments in real estate. The deposits are about $191,000. The bank will be closed up. POTTSVILLE, Pa., Feb. 26.-A false rumor started by an unknown person caused a run on the Union National bank at Mahandy City today, but the depositors soon found out that there was nothing in the report and stopped.


Article from The Sun, August 17, 1893

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Article Text

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