First National Bank & Trust Company (Tarentum, PA)

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Episode Information

Episode UID
445301255
Episode Type
Run Only
Bank Type
national
Bank ID
44530 national
Charter Number
4453
Start Date
July 26, 1904
Location
Tarentum, Pennsylvania

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e57d209f01cce649

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

Article refers to the local National Bank, Tarentum—likely the same institution named above (name shortened in sources).

Events (3)
1. October 30, 1890 Chartered
Source
historical_nic
2. July 26, 1904 Run
Cause
Bank Specific Adverse Info
Cause Details
Discovery that the bank's bookkeeper (James H. Ekas) had embezzled several thousand dollars; publicity showed only $2,000 missing.
Measures
Opened bank half an hour earlier than usual and publicized the limited amount stolen to avert panic.
Newspaper Excerpt
A threatened run on the National Bank at Tarentum, Pa., following the discovery that the bookkeeper had embezzled funds, was averted by opening the bank half an hour earlier than usual, and the publication of the fact that only $2,000 had been stolen.
Source
newspapers
3. April 18, 1934 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (4)
1. July 13, 1904 The Star Reynoldsville, PA
Article from The Star, July 13, 1904

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Article Text

KEYSTONE STATE CULLINGS BANK EMPLOYE IN TROUBLE Well-Known Resident of Tarentum is Said to Have Been Short in . His Accounts. James H. Ekas, one of the best known residents of Tarentum, and bookkeeper of the National Bank Tarentum, was placed under of charged with having embezzled arrest, severa) thousand dollars belonging to financial institution by which he the a employed. The arrest of Ekas was caused sensation in that place. The small tion depositors crowded about the instituduring the day, and many of the accounts were withdrawn. The formation against the bookkeeper inmade by J. W. Hemphill, president was the bank. When taken in custody of he is his said to have made a confession of peculations, which cover a period of over eight years. A short distance from Ehrenfeld station, at the same place where ing engine exploded two months ago, kill- an four, engine No. 177. drawing eastbound freight train on the Penn- an sylvania railroad, exploded killing three men almost instantly, probably fatally injuring two and slightly juring several others. The dead inJohn Wessinger. engineman, of are: Conemaugh, 45 yais old: Daniel C. Crouch, fireman, of Conemaugh, 28 years old; lor Charles Ross, flagman, of East Taytownship, 21 years old. Seriously injured: J. B. Smith, flagman, of Conemaugh; H. C. Boyle, conductor, of Conemaugh. In addition to the foregoing, juries. five others received slight inIn a letter to district president T. D. Nicholls, of the United Mine Workers, Umpire Carroll D. Wright to-day tained the contention of the sus- miners that It is incumbent on the companies to of collect from the miners the wages the checkweighmen or docking the bosses. The Scranton Coal Company, Pennsylvania Coal Company and the Temple company, employing 200,000 men, refused. to collect for checkweighmen and docking bosses from the wages of such miners as refused to make written assignments authorizing the deductions. Harry M. Shoff. 31 years old, an attorney of Coalport, Clearfield county, was murdered by Romey Loymeir while attempting to collect a bill for legal service. Early yesteruay Shoff defended Loymeir in an assault and battery case, and while on his home at midnight stopped at way Loymeir's to collect his bill of $5. An argument and fight followed and young Loymeir crushed Shoff's skull. The murderer gave himself up a short time after the killing. Rev. Harry E. Kaufman, a graduate of the Western Theological Seminary and of Grove City College, has been installed as pastor of the Presbyterian churches at Harrisville and New Hope, Butler county. Rev. E. R. Worrell, of Butler preached the installation sermon. President Isaac Ketler, of Grove City College, preached the 'A is Rev. pue people, the 07 charge Moore, of Slippery Rock, the charge to the pastor. At Butler, Judge Galbreath granted tavern licenses to Captain Herman Liebold of the Hotel Arlington, Earl D. Clinton of the Standard, Charles Gels of the Lyndora, Ralph Gregg of u the Park, Simeon and Brown Nixon of the Nixon, Daniel F. McCrea of the Butler, Alfred Klein of the Willard and George Haworth of the Bowman. The application of C. H. and H. B. fused. Kemp for the Hotel Lawry was reThe satchel of Walter Scott, said to have contained $12,000 in gold dust, taken from a Pennsylvania train near Philadelphia, was found yesterday morning by Foreman John Foresha, of Supervisor Hippey's division 7 New Florence. It had the near appearance of having been roughly torn open and and the JO pile B uo SUM empty. Inscribed on the satchel was "Scott & Gearhard, 234 Fifth avenue, New York." John Lepka, Christ Bofinger and P John Combush, miners of Adrain, each lost a leg by being struck with the haulage rope as they were walking in along the track in the mines. The rope caught in the guard rail and when the signal to stop was given it slipped off, cutting them down. By order of the Venango county P court the verdict of $41,200 damages received by Stuart Simpson, of on City agaïnst the Pennsylvania railroad -I company, has been reduced to $22,000. u The plaintiff is given 15 days to accept or refuse. a The following fourth-class Pennsylvania postmasters were appointed: n Haysville, Allegheny county, Samuel J. Fair: Lamartine, Clarion county, d James T. Laughner: Polk, Venango county, William W. McClelland. 4 After a steady run of 18 months . the P two tin mills at New Castle closed for *I an indefinite period. The employes are satisfied with the settlement of P 01 the night. wage question at Pittsburg last a The entire plant of the American O3 Tin Plate company, at South Sharon.

2. July 26, 1904 Wausau Pilot Wausau, WI
Article from Wausau Pilot, July 26, 1904

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Article Text

News of Minor Note. Dowie announces be will establish branch Zions in Massachusetts and Louisiana. The convention of the Socialist Labor party has declared its opposition to labor unions because of their conservatism. Two Yale students, W. H. Goodwin of Burnside, Conn., and R. W. Armstrong of Hayesville, Ohio, were drowned in the Connecticut river at East Northfield, Mass. The Daughters of the American Revolution are to buy the house at Raleigh, N. C., where President Andrew Johnson was born. It is proposed to found a public museum. A threatened run on the National Bank at Tarentum, Pa., following the discovery that the bookkeeper had embezzled funds, was averted by opening the bank half an hour earlier than usual, and the publication of the fact that only $2,000 bad been stolen.

3. March 4, 1933 Evening Star Washington, DC
Article from Evening Star, March 4, 1933

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Article Text

# EARLY U. S. ACTION # PLANNED ON BANKS New York and Illinois Declare Holidays-Only Four States Unrestricted. (Continued From First Page.) Connecticut took similar action, bring- ing to 43 the list of States in which restrictions on withdrawals are opera- tive in some form or another. Only Montana, Colorado, North Da- kota and South Carolina remained without restrictions at noon today. Delaware's banks were open, but the State Legislature has already taken emergency action. These developments had brought from Representative Rainey, the next Speaker of the House, the prediction that "an extra session of Congress will be called at the earliest possible time." He said he felt that early next week, possibly Tuesday, would not be too soon. Pre- viously Rainey had told House mem- bers-elect to remain in Washington. Others at the Capitol said the session probably would begin Wednesday. The Federal Reserve Bank of New York was closed with all other bank- ing institutions of that State. The Federal Reserve Bank at Philadelphia also closed, under a holiday declared throughout Pennsylvania by Gov. Pin- chot. Later in the day the Minne- apolis Federal Reserve Bank suspended business. The closing of the New York Federal Reserve Bank meant the tying up of its huge gold reserve for the period of the holiday against withdrawal by either domestic or foreign agencies. In discussing the banking relief pro- gram, Senator Robinson said: "We do not know just when it will be completed, but it will be expedited all possible. The details can not be announced right now but you may be assured there will be no delay." Wagner Plans Action, Previously Senator Wagner, Demo- crat, of New York, had told newspaper men he would carry immediately to Democratic leaders an appeal for imme- diate emergency banking moves. In- formed at his hotel here of banking moratoria in New York and Illinois. Wagner said he would appeal this morn- ing to Democratic leaders to begin working out a program and some time this afternoon would call on Mr. Roose- velt with the same objective. A bank holiday, he said, "is the only thing to do" to meet the emergency of the banks themselves, but he added quick steps are necessary to enable them to reopen and continue opera- tions. Harvey Couch, Democratic member of the Reconstruction Finance Corpoга- tion, was the first White House caller this morning. He said after a brief conference with President Hoover he had discussed "matters incident to the banking situation," but declined to give details. Couch conferred last night with President-elect Roosevelt. Officials in Conferences. High officials both of the outgoing Republican and incoming Democratic administrations were in conference most of the night. Secretary of the Treasury Mills said afterward the Hoover administration would have no statement, but that governors of the Federal Reserve banks in Chicago and New York would have announcements. Demands Impossible. The hours between midnight and dawn saw banking officials in many States struggling with the problem, made acute by the flurrying of nervous- ness on the part of depositors. As a statement by the New York Clearing House Committee put it: "The unthinking attempt of the pub- lic to convert over $40,000,000,000 of deposits into currency at one time is, on its face, impossible." The statement added that the condi- tion clearing house banks is such that "they could, through the facilities of the Federal Reserve Bank, pay on de- mand every dollar of their deposits," but that withdrawals throughout the country as a whole have increased so that a "halt" is necessary "to enable the proper authorities to consider and adopt remedies to meet this situation, not for New York primarily, but for the Nation as a whole." Only a few States remained today in which restrictions on withdrawals had not been invoked. No Holiday in Virginla. In Virginia, Gov. Pollard said no general banking holidays would be de- clared because the State's laws already protect the banks and their depositors. In Maryland, the General Assembly early today approved the emergency banking legislation without a dissenting vote in either House. Gov. Ritchie signed it this morning, but said that the banking institutions of the State will not reopen Monday. The resources of the Reconstruction Finance Corporation earlier had been made available to hard-pressed, but solvent banks in States that have imposed moratoria on withdrawals. This was one of a number of de- velopments yesterday that included introduction of legislation to allow postal savings checking accounts and to confer upon the incoming admin- istration sweeping authority to main- tain the security of deposits. Reconstruction Corporation officials said their policy called for lending in- stitutions if the loans were well secured enough money to pay the percentage of deposits that could be withdrawn, provided the banks did not have the funds immediately available. It was emphasized this was not a new departure, but was simply the ap- plication of regulations decided upon for individual instances in the past to a situation spread into a number of States. Pinchot's Statement. Gov. Pinchot of Pennsylvania here for the inauguration issued the follow- ing statement: "Because of the declaration of a bank holiday in New York, Illinois and most of the other States, similar action in Pennsylvania has become unavoidable. "Were our banks to remain open, the demands upon them would impose an impossible burden. "Therefore, upon specific recom- mendation of Gov. Norris of the Phila- delphia Federal Reserve Bank, I hereby declare a bank holiday throughout Pennsylvania on Saturady, March 4, 1933, and Monday, March 6, 1933." Exchange Statement. A statement issued by the Govern- ing Committee of the New York Stock Exchange said: "The Governing Committee at a meeting held this morning in order to give full effect to the banking holiday declared by the Governor of the State of New York directed: "First, that the exchange be closed during such holiday: "Second, that members and firms registered on the exchange be pro- hibited from making any contracts for the purchase or sale or the borrowing or lending of any securities, and also from permitting their offices or facili- ties to be used for the purpose of mak- ing or carrying out any such contracts; "Third, that all deliveries be suspend- ed on all member contracts, except on such contracts as may be cleared by or settled through the Stock Clearing Corporation, and that in such cases deliveries shall be made as the Stock Clearing Corporation shall direct

4. March 4, 1933 The Daily Courier Connellsville, PA
Article from The Daily Courier, March 4, 1933

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Article Text

GOVERNOR ORDERS TWO-DAY HOLIDAY FOR STATE BANKS By International Nows Service. PHILADELPHIA, March 4.-Governor Gifford Pinchot. from his temporary residence at Washington, D. C., today proclaimed mandatory twoday hollday for all Pennsylvania banks. The proclamation issued at 8:30 this morning through Dr. William D. Gordon, State Secretary of Banking, directs all banks in the Commonwealth to remain closed Saturday and Monday. George W. Norris, governor of the Federal Reserve Bank in Philadelphia at whose behest leading Philadelphia financiers assembled in the early Lours the morning to consider decisive action, said the step was made necessary by the growing list state bank holidays. Although it was believed Penneylvania banks could have remained open under the emergency legislation passed by the Legislature last Monday, of holidays by the governors of New York and Illinois and several other states early today precipitated the crisis, Norris explained. "Because of the declaration of bank holiday in New York, Illinois and other states similar action in Pennsylvania has become unavoidable," the Governor declared in his "Were our banks to remain open the demands on them would impose an impossible burden." "Therefore, on the specific recommendation of Governor George W. Norris of the Philadelphia Reserve Bank, hereby declare bank hollday throughout for Saturday, March 5, and Monday, March 6," the proclamation concluded.