First National Bank (Niles, OH)

Episode Information

Episode UID
419001305
Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
41900 national
Charter Number
4190
Start Date
September 3, 1908
Location
Niles, Ohio (41.183, -80.765)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
c0c18b662e88cc1b

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1908-09-03
Date receivership terminated
1909-09-30
OCC cause of failure
Losses
Share of assets assessed as good
17.3%
Share of assets assessed as doubtful
47.8%
Share of assets assessed as worthless
35.0%

Events (4)

1. December 28, 1889 Chartered
Source
historical_nic
2. September 3, 1908 Receivership
Source
historical_nic
3. September 3, 1908 Receivership
Newspaper Excerpt
P. Tillinghast has been appointed receiver.
Source
newspapers
4. September 3, 1908 Suspension
Cause
Government Action
Cause Details
Closed by board of directors on grounds of insolvency and placed in receivership by the comptroller.
Newspaper Excerpt
The First National bank of Niles, O., was closed today by order of the board of directors on the grounds of insolvency.
Source
newspapers

Newspaper Articles (13)

Article from The Topeka State Journal, September 3, 1908

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Article Text

OHIO BANK CLOSED Last Statement Shows $610,000 Due Depositors. Washington, Sept. 3.-The First National bank of Niles, O., was closed today by order of the board of directors on the grounds of insolvency. P. T. Tillinghast has been appointed receiver. A statement of the condition of the bank on July 15 last showed the resources and liabilities to be $1,384,625. Of the liabilities $610,000 are due depositors. Niles, O., Sept. 3.-This notice was posted on the doors of the First National bank this morning: "This bank ordered closed by its board of directors, pending action by the comptroller of the treasury. It is the opinion of the board of directors that this bank is solvent and every depositor will be paid in full. "WILLIAM HERBERT, President,"


Article from The Detroit Times, September 3, 1908

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Article Text

Niles, O., Bank Closed. NILES, O., Sept. 3.-The First National bank of this city was closed today by order of its directors on the ground of insolvency. P. Tilinghast was appointed receiver.


Article from Albuquerque Citizen, September 3, 1908

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Article Text

OHIO BANK CLOSED. / Washington, Sept. 3.-The First National bank of Niles, Ohio, was closed today by order of the board of directors on the ground of insolvency. P. Tillinghast was appointed receiver.


Article from The Fargo Forum and Daily Republican, September 3, 1908

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Article Text

BIG OHIO BANK IS INSOLVENT Washington, D. C., Sept. 3.-The First National bank of Niles, O., with a capital of $300,000, was closed today by order of the board of directors, on the ground of insolvency. P. Tillinghast has been appointed receiver.


Article from Evening Journal, September 3, 1908

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Article Text

Ohio Bank Closed. By United Press Leased Special Wire. WASHINGTON, Sept. 3.-The comptroller of the currency today announeed the closing of the First National Bank of Niles, Ohio, by order of the board of directors and the appointment of P. Tillinghast as receiver.


Article from The Roswell Daily Record, September 3, 1908

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Article Text

After October 1st we will discontinue giving away premiums with all cash sales. Joyce-Pruit CoPROSPERITY WAVE AGAIN STRIKES OHIO. Washington, Sept. 3.-The First National Bank of Niles, Ohio, was closed today by order of the board of directors on the ground of insolvency. P. Tillinghast was appointed receiver. July 15 last the bank's resources and liabilities were $1,384,625. The deposits were then $610,000.


Article from The Daily Sentinel, September 3, 1908

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Article Text

BIG BANK CLOSED [By Associated Press. WASHINGTON, SEPT. 3.-THE FIRST NATIONAL BANK OF NILES. 0., WAS CLOSED TODAY BY ORDER OF THE BOARD OF DIRECTORS ON THE GROUNDS OF INSOLVENCY. P. TILLINGHAST HAS BEEN APPOINTED RECEIVER OF THE INSTITUTION. THE DIRECTORS OF THE BANK SAY THAT THE INSTITUTION IS SOLVENT AND THAT THE DEPOSITORS WILL BE PAID IN FULL.


Article from Lewiston Evening Teller, September 3, 1908

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Article Text

Eastern Bank Suspends. Niles, O., Sept. 3.-The First Na tional bank closed today on the grounds of insolvency. Liabilities are $1,300,000.


Article from The Washington Herald, September 4, 1908

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Article Text

Insolvent National Bank. The Comptroller of the Currency yesterday placed the First National Bank of Niles, Ohio, in charge of a receiver.


Article from The Salt Lake Herald, September 4, 1908

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Article Text

USUAL NOTICE ON THE DOOR Ohio National Bank Closed, but It Is Expected "Every Depositor Will Be Paid in Full." Washington, Sept. 3.-The First National bank of Niles, Ohio, was closed today by order of the board of directors on grounds of insolvency. P. Tillinghast has been appointed receiver. A statement of the condition of the bank on July 15 last showed the resources and liabilities to be $1,384,625. Of the liabilities $610,000 are due depositors.


Article from River Falls Journal, September 10, 1908

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Article Text

brought under control and the great trees were saved. The special grand jury at Springfield, III., returned 117 indictments in connection with the race riots, and made a final report in which it commended certain officials and severely condemned some of the police for their cowardice. Late returns from the Michigan primaries put Gov. Fred Warner in the lead for renomination. Orville Wright made a fairly successful test of his aeroplane built for the army at Fort Myer. Near Ithaca, N. Y., two Cornell students made a good flight of several miles in an aeroplane of their own construction. Spanish war veterans voted to hold next encampment at Tacoma, Wash. The territorial supreme court at Manila decided that the sultan of Dunaharra must hang for the part he took as a leader of the raid on Parang, island of Mindanao, in January, 1906, wherein J. W. McDonald of that place was killed by the raiders. Judge Vandeventer in the United States circuit court at St. Paul enjoined the Arkansas railway commission from enforcing the two-cent-fare law. Chief of Detectives Gill of East St. Louis and Patrolman Ransome Paine were shot while trying to trap burglars in the home of Philip Wolff, treasurer of St. Clair county. The condition of the natives of the Aleutian Indian village in Akutan harbor, Bering sea is most deplorable, according to the report of Dr. Robert Olsen, assistant surgeon on the revenue cutter McCulloch. The First National bank of Niles, O., failed and a receiver was ap pointed. The United Spanish war veterans drew the color line by declaring the Charles M. Thomas camp of Washington "unattached." William H. Taft and Senator Foraker met in Toledo and entire harmony between them was assured, the senator promising to take the stump for the Republican ticket. Charles O. Jones, a noted aeronaut, fell 500 feet with his blazing dirigible balloon at the Central Maine fair at Waterville, and was killed. The accident was witnessed by 25,000 persons. The parade of the Grand Army of the Republic at the encampment in Toledo was reviewed by Mr. Taft, Senator Foraker and others. About 12,000 veterans were in line. James S. Stackpole, a member of the firm of Stackpole Brothers, publishers of the Lewistown (Pa.) Gazette, while mentally unbalanced committed suicide near Mifflintown by shooting. Fifteen thousand Americans and Australians took part in a grand review and parade at Flemington, a suburb of Melbourne. The Victorian journalists gave a reception in honor of Rear Admiral Sperry. It was his birthday and the city of Melbourne commemorated the occasion by presenting him with a silver bowl bearing a suitable inscription. A Paris newspaper prints an interview with Sidi el Mokhri, Moroccan minister of foreign affairs, in which he declares that Abd-el-Aziz has deflnitely resolved to give up the struggle. Unknown persons dynamited the bank of the Illinois and Michigan canal at Channahon, 12 miles southwest of Joliet, and the entire district was flooded. Foreclosure proceedings against the Pittsburg-Wabash Terminal Railway company were begun in Pittsburg by the Mercantile Trust company of New York. Wisconsin primaries resulted in the nomination for United States senator of Isaac Stephenson, Republican, and Neal Brown, Democrat; for governor, James O. Davidson, Republican, and J. A. Aylward, Democrat. Republicans carried the Vermont election by a plurality of about 28,000, a decrease of eight per cent. from the vote of 1904. The Democratic vote also showed a decrease. The crew on board the racing balloon Ville de Dieppe tried to descend at Niagara Falls. The rip cord failed to work properly, resulting in a poor landing. The three men in the basket got a bad shaking up and narrowly escaped death in the whirlpool rapids. Secretary George McLaughlin of the state commission of prisons in a report on a recent inspection protested strongly against the keeping of Harry K. Thaw in the Dutchess county jail at Poughkeepsie. Judge A. H. Huston declared unconstitutional the Oklahoma school law providing separate school boards and separate schools for negroes in the new state. Fire in Atlanta, Ga., destroyed the plants of the Atlanta Trunk factory and the Empire Printing & Box company. The loss is estimated at $100,000. Standing at the stern of a motor boat which he had stolen and with bullets whizzing over his head, Edward Burnett, a full-blooded Pottawattomie Indian, led two detectives an exciting chase through the down- town


Article from The Daily Gate City, November 3, 1908

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Article Text

Depositors Get 40 Per Cent. YOUNGSTOWN, Ohio, Nov. 3.-The comptroller of the currency has authorized Receiver Tillinghast of the First National Bank of Niles to pay depositors a dividend of 40 per cent. The bank closed its doors about two months ago.


Article from The Winchester News, November 3, 1908

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Article Text

Bank Dividend Ordered. Youngstown, O.. Nov. 3. - The comptroller of the currency has authorized Receiver Tillinghast of the First National Bank of Niles to pay depositors a dividend of 40 per cent. The bank closed its doors about two months ago.