First National Bank (Fort Payne, AL)

Episode Information

Episode Type
Suspension → Closure
Start Date
January 24, 1894
Location
Fort Payne, Alabama (34.444, -85.720)
Bank Type
national
Charter Number
4064

Metadata

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1894-01-26
Date receivership terminated
1897-12-14
OCC cause of failure
Losses
Share of assets assessed as good
24.7%
Share of assets assessed as doubtful
46.0%
Share of assets assessed as worthless
29.3%

Notes

Known receivership date (1894-01-26) corresponds to the suspension; closure/receivership follows soon after.

Events (4)

1. July 2, 1889 Chartered
Source
historical_nic
2. January 24, 1894 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank announced suspension (failure) leading to receivership/closure; insolvency implied
Newspaper Excerpt
THE suspension was announced of the First national bank of Fort Payne, Ala.
Source
newspapers
3. January 26, 1894 Receivership
Source
newspapers
4. January 26, 1894 Receivership
Source
historical_nic

Newspaper Articles (4)

Article from River Falls Journal, February 1, 1894

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Article Text

WEST AND SOUTH

IN Chicago Mrs. Annie Lindgren's life was crushed out in a mad struggle of the hungry at the county agent's office. NEARLY $50,000 in counterfeit money was unearthed at Louisville, Ky., by a woman who was digging some roots for tea. LUMBER dealers of Ohio, Pennsylvania, Michigan and Indiana in the twelfth annual convention adopted resolutions denouncing the free lumber schedule of the Wilson bill and setting forth that the lumber interests of the country would be ruined if it was enacted into law. FIRE ruined the Interior of the hide, fur and wool house of Adler, Goldman & Co. in St. Louis and the German Evangelical Lutheran church, the total loss being $160,000. ALONZO REED, a dissolute character at Perry, Ill., shot and killed his wife and infant and then ended his own life. AT Madison, Wis., John S. Johnson, of Minneapolis, beat the quarter-mile skating record, going the distance in 0:31½. ONCE more Herman Harms, of Utica, Minn, who has slept most of the time for sixteen years, and whose case has become famous, has awakened. THE suspension was announced of the First national bank of Fort Payne, Ala. HARVEY KENYON, a lad of 18, living at Walch, 0., has been practically mummified below the knees by the extravasation of blood into the muscular tissues following a fit of vomiting. THE leader of the Seventh Day Adventists of Battle Creek, Mich., Elder Uriah Smith, says the end of the world is near. A VETERAN of the war of 1812, Andrew Franklin, who lives in Coffee county, Kan., and is 10% years old, will probably be given a pension of $50 a month. THE convicted Milwaukee banker, Koetting. was sentenced to five years' imprisonment by Judge Clementson. OHIO operators have ordered the mines closed as a result of the coal miners' refusal to accept a reduction in wages. FIRE destroyed an insane asylum near Boone, Ia., and of its nine inmates only one escaped. IN one day gold to the value of $128,000 was taken from the Little Johnnie mine at Leadville, Col. ONE THIRD of the business portion of Solomon City, Kan., was burned.


Article from Perrysburg Journal, February 3, 1894

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Article Text

DOMESTIC

KOETTING, the convicted Milwaukee banker, was sentenced to five years' imprisonment by Judge Clementson. As A result of the coal miners' refusal to accept a reduction in wages Ohio operators have ordered the mines closed. A STEAM heater in a passenger coach on a Texas road burst and two men were killed and three injured. THE boiler in a sawmill at Newman, Ga., exploded, instanlly killing William Kidd and Oscar Herring. Kidd's head was blown off. ANDREW FRANKLIN, a veteran of the of who lives in Coffee county, is 102 bly be a a war Kan., and given 1812, pension years old, of $50 will month. probaTHE First national bank of Fort Payne, Ala., has suspended. THE interior of the hide, furand wool house of Adler, Goldman & Co. in St. Louis and the German Evangelical Lutheran church were burned, the total loss being $160,000. By the extravasation of blood into the muscular tissues following a fit of vomiting Harvey Kenyon, a lad of 13, living at Walch, O., has been practically mummified below the knees FIRE destroyed St. Paul's Episcopal church in Louisville, Ky., the loss being $100,000; insurance, $54,000. THE house of a man named Thomson was wrecked by a snowslide in White Bird Gulch, Idaho, and his four daughters were killed. By the capsizing of a boat in the harbor at Charleston, S. C., six men were drowned. JEREMIAH M. MULVIHILL, alderman of the Seventeenth ward in Chicago, was shot and probably fatally wounded in a saloon by Mike Fewer, who was drunk. COLD weather reduced the pressure in fields O., was the and natural great suffering gas around the Celina, result. Two FREEPORT (III.) young women sawed several cords of wood donated to their church by a farmer. TWELVE of the hat factories at Danbury, Conn., have resumed operations with non-union men. B. B. CAMPSEN and Fred Miller and four others were drowned by a boat capsizing near Sullivan island, S.C. THREE grandchildren of Frank Miggins were burned to death in his house at Crawford's, Ala. MRS. EMIL KELLAR while insane shot and killed her husband, her 9-monthsold and herself in strike was A child BIG gold made Auburn, 18 N. miles Y. from Sorocco, N. M. THREE victims of superstition were expelled as the result of the witchcraft trials in the Salem (O.) Methodist church. A TRIAL of the monster Niagara falls tunnel water power proved to be a success. THE Sherman Oil & Cotton company's mill at Sherman, Tex., was burned, the loss being $100,000e SEVERAL heretofore reputable farmers and merchants in Jackson county, Ia., were found to be robbers and ar1 rested. EDWARD THOMPSON and his 10-yeardaughter were aphyxiated by natural s gas at Indianapolis. IN the prize fight at Jacksonville, y Fla., between James J. Corbett, of California, and Charles Mitchell, of Eng1 latter was in t the the d land, third the round, giving "knocked Corbett out" world. title of champion pugilist of the e ENGLAND was said to be preparing e troops for Egypt. The relations bee tween the two countries were strained. k THE exchanges at the leading cleard ing houses in the United States during e the week ended on the 26th aggregated r $840,227,507, against $924,925,525 the previous week. The decrease, compared with the corresponding week in 1893 was 36.6. a SEVEN were frozen to death f in the recent r business in THERE Oklahoma were persons during 430 failures blizzard. States in the seven 407 ended the United on the 26th, against the week days n previous and 255 in the corresponding t time in 1893. 1THE old Schuschardt homestead at I, Newton, L. I., containg many family relies and paintings, was burned, the loss being $100,000. BECKLEY, of Pittsburgh, is pushing a y scheme for benefit ball games for n Catcher Bennett, who recently lost both legs.


Article from The Cape Girardeau Democrat, February 3, 1894

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Article Text

WEST AND SOUTH LUMBER dealers of Ohio, Pennsylvania, Michigan and Indiana in the twelfth annual convention adopted resolutions denouncing the free lumber schedule of the Wilson bill and setting forth that the lumber interests of the country would be ruined if it was enacted into law. FIRE ruined the interior of the hide, fur and wool house of Adler, Goldman & Co. in St. Louis and the German Evangelical Lutheran church, the total loss being $160,000. ALONZO RERD, a dissolute character at Perry, III., shot and killed his wife and infant and then ended his own life. AT Madison, Wis, John S. Johnson, of Minneapolis, beat the quarter-mile skating record, going the distance in 0:31 16. ONCE more Herman Harms, of Utica, Minn, who has slept most of the time for sixteen years, and whose case has become famous. has awakened. THE suspension was announced of the First national bank of Fort Payne, Ala. HARVEY KENYON, a lad of 18, living at Walch, O., has been practically mummified below the knees by the extravssation of blood into the muscular tissues following a fit of vomiting. THE leader of the Seventh Day Adventists of Battle Creek, Mich., Elder Uriah Smith, says the end of the world is near. A VETERAN of the war of 1812, Andrew Franklin. who lives in Coffee county, Kan. and is 103 years oid, will probably be given c pension of $50 a month


Article from Hopkinsville Kentuckian, January 1, 1895

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Article Text

LOOKING BACKWARD.

Leading Events of a Memorable Twelve Months.

THE YEAR 1894 PASSED IN REVIEW.

Failures, Casualties, Crimes, Foreign and Industrial Happenings, Meteorology, Political, Social and Sporting Events Chronologically Recorded.

BUSINESS FAILURES.

BANKS GENERALLY. OTHERS FOR $500,000 AND OVER.

Jan. 3—Southern Land and Improvement Co., Frankfort, Ky.; $500,000. Jan. 9—Citizens' bank at Ogden, Utah... Bank of Port Washington, Wis. Jan. 10—W. T. Beak & Co., San Francisco commission merchants; $750,000. Jan. 14—Meadville (Pa.) savings bank. Jan. 15—Merchants' bank, Ellis, Kan. Jan. 16—Third national bank, Detroit Bank of Zumbrota, Minn. Jan. 22—Westview savings bank, at Louisville, Ky. Jan. 24—First national bank, Fort Payne, Ala. Feb. 9—Signa Iron Co., of Philadelphia; $100,000. Feb. 14—American national bank at Springfield, Mo Burlington (Ia.) Fire & Tornado Insurance Co. Mar. 2—State bank at Brookville, Kan. Mar. 7—Bank of Harrison, Neb. Mar. 13—Bank of Excelsior Springs, Mo. Mar. 28—People's savings bank of Duluth, and Merchants' bank of West Duluth. Apr. 6—J. B. Watkins Mortgage Co. of Lawrence, Kan.; $5,550,000. Apr. 10—Aspen (Col.) national bank. Apr. 13—W. H. Thomas & Son, whisky dealers and distillers at Louisville, Ky.; $500,000. Apr. 19—West Superior Iron & Steel company of Milwaukee; $2,500,000. Apr. 24—Merchants' bank of Enid, O. T. Apr. 27—Henry Newman & Co., importers of clothing supplies in New York; $1,500,000. Apr. 30—Scandinavian and Finland Emigrant Co. of New York; $4,000,000. May 4—First national bank of Sedalia, Mo. May 7—State national bank at Wichita, Kan. May 8—A. N. Schuster & Co., clothing dealers at St. Joseph, Mo.; $500,000. May 16—National bank of Pendleton, Ore. May 18—The order of Tonti in hands of receiver in Philadelphia. May 20—Traders' bank of Tacoma. May 24—Bank of Tempe at Phoenix, A. T. May 31—Bank at Enterprise, Kan. June 4—Steele & Walker, wholesale grocers at St. Joseph, Mo.; $700,000. June 5—Farmers' and Merchants' bank at South End, O. T. June 7—German national bank at Denver, Col.; $853,000. June 8—Union Warehouse Co. of New York; $1,000,000. June 10—American Investment Co. at Emmettsburg, Ia.; $800,000. June 18—Goodwin & Swift, of New York, electric railway builders and promoters; $750,000. June 21—Black Hills national bank of Rapid City, S. D. July 26—First national bank of Grant, Neb. Aug. 1—Baker City (Ore.) national bank. Aug. 7—Citizens' savings bank at Portsmouth, O. Aug. 10—Second national bank, Altoona, Pa. Aug. 13—Wichita (Kan.) national bank. Aug. 17—Commercial & Savings bank of Ludington, Mich. Sep. 6—Middleton (Pa.) bank. Sep. 7—Mutual Benefit Life association of America, headquarters at New York; $10,000,000 Oklahoma county bank at South Enid, O. T. Sep. 10—Citizens' bank of Plattsmouth, Neb. Sep. 21—Commercial bank at Weeping Water, Neb. Oct. 1—First national bank of Fayetteville, N. Y. Oct. 5—Coffin & Stanton, stock brokers in New York; $3,600,000. Oct. 10—American Debenture Co., of Chicago; $1,500,000. Oct. 11—First national bank of Kearney, Neb. Oct. 12—Buffalo county national bank at Kearney, Neb. Oct. 16—Merced bank, at Merced, Cal. Oct. 23—George M. Irvin & Co., of Pittsburgh, Pa.; $1,000,000. Oct. 25—J. J. Reithman and J. J. Reithman & Co., wholesale druggists in Denver; $500,000. Nov. 8—San Bernardino (Cal.) first national bank. Nov. 12—First national bank of Johnson City, Tenn. Nov. 20—Portland (Ore.) savings bank; $1,430,000. Nov. 23—Brown national bank at Spokane, Wash. Nov. 27—Kendall Banking company at Howard, S. D Security National bank of Grand Island, Neb. Nov. 28—Bank of Canova, S. D. Dec. 4—North Platte (Neb.) national bank Tacoma (Wash.) national bank. Dec. 5—Farmers' Insurance Co., of Seattle, Wash. Dec. 11—Commercial bank, at St. Joseph, Mo.