Somerset National Banking Company (Somerset, KY)

Episode Information

Episode Type
Suspension → Closure
Start Date
August 17, 1900
Location
Somerset, Kentucky (37.092, -84.604)
Bank Type
national
Charter Number
5468

Metadata

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1900-08-17
Date receivership terminated
1908-09-30
OCC cause of failure
Losses
Share of assets assessed as good
47.8%
Share of assets assessed as doubtful
52.0%
Share of assets assessed as worthless
0.2%

Events (3)

1. June 29, 1900 Chartered
Source
historical_nic
2. August 17, 1900 Receivership
Newspaper Excerpt
The comptroller of the currency to-day appointed R. D. Garret[t], temporary receiver of the Somerset National Banking company, of Somerset, Ky.
Source
newspapers
3. August 17, 1900 Receivership
Source
historical_nic

Newspaper Articles (14)

Article from Albuquerque Daily Citizen, August 17, 1900

Click image to open full size in new tab

Article Text

Bank Failure Washington, Aug. 17.-The comptroller of the currency to-day appointed R. D. Garret, temporary receiver of the Somerset National Banking company, of Somerset. Ky. No statement of the bank's condition has been issued.


Article from Santa Fe New Mexican, August 17, 1900

Click image to open full size in new tab

Article Text

Receiver for a Bank

Washington,, August 17.-The comptroller of the currency today appointed R. D. Garrett, temporary receiver of the Somerset National Banking Co., of Somerset, Ky. No statement of the bank's condition is issued.


Article from Las Vegas Daily Optic, August 17, 1900

Click image to open full size in new tab

Article Text

Somerset,Ky., Bank Insolvent. Washington, Aug. 17-The comptroller of the currency today appointed R. D. Garrett temporary receiver of the Somerset national banking company, Somerset, Ky. No statement of the bank's condition is issued.


Article from Deseret Evening News, August 17, 1900

Click image to open full size in new tab

Article Text

Bank Receiver Named

Washington, Aug. 17.-The comptroller of the currency today appointed R. D. Garrett temporary receiver of Somerset National bank, Somerset, Ky. The bank has been organized only since June 29, 1900, and had an authorized capital of $50,000. No statement of the bank's conditions has been issued.


Article from The Topeka State Journal, August 17, 1900

Click image to open full size in new tab

Article Text

Kentucky Bank Breaks

Washington, Aug. 17.-The comptroller of the currency today appointed R. D. Garrett temporary receiver of the Somerset National Banking company, Somerset, Ky. The bank has only been organized since June 29, 1900, and had an authorized capital of $50,000. No statement of the bank's condition has been issued.


Article from New-York Tribune, August 18, 1900

Click image to open full size in new tab

Article Text

RECEIVER FOR A KENTUCKY BANK

Washington, Aug. 17.-The Controller of the Currency to-day appointed R. D. Garrett temporary recelver of the Somerset National Banking Company, Somerset, Ky. The bank has only been organized since June 29, 1900, and had an authorized capital of $50,000.


Article from Daily Inter Mountain, August 18, 1900

Click image to open full size in new tab

Article Text

A temporary receiver has been appointed for the defunct Somerset National bank at Somerset, Ky. The bank was organized in June of this year.


Article from The Seattle Post-Intelligencer, August 18, 1900

Click image to open full size in new tab

Article Text

Bank Receiver Appointed

WASHINGTON, Aug. 17.-The comptroller of the currency today appointed R. D. Garrett temporary receiver of the Somerset National bank, Somerset, Ky. The bank has been organized only since June 29, 1900, and had an authorized capital of $50,000. No statement of the bank's condition has, been issued.


Article from The Topeka State Journal, November 13, 1900

Click image to open full size in new tab

Article Text

Receiver Gets a Judgment

Somerset, Ky., Nov. 13.-A judgment was today rendered in the Pulaski. circuit in favor of R. D. Garrett, United States receiver of the Somerset National Banking company against the Somerset Banking company, for $71,032.


Article from The Seattle Post-Intelligencer, November 14, 1900

Click image to open full size in new tab

Article Text

Judgment Rendered

SOMERSET. Ky., Nov. 13-A judgment was rendered in the Pulaski county court to favor of R. R. Garrett. United States receiver of the Somerset National Banking Company, against the Somerset Banking Company for $71,032.


Article from Oxford Eagle, January 3, 1901

Click image to open full size in new tab

Article Text

BUSINESS FAILURES

Jan. 3—Wabasha, Minn., People's bank. 6—Rahway, N. J., Union county bank New York, Hulbert H. Warner, patent medicine manf.; $2,319,027. 9—Plankinton, S. D., State bank. 17—Chicago, Francis P. Owings, real estate; $5,364,977. Feb. 7—New Bedford, Mass., Henry E. Holcomb, manf.; $1,351,438 Boston, Miner, Beal & Co., clothing firm, $450,000. 26—United States milling combine (flour trust); $15,000,000. Mar. 3—Port Jervis (N. Y.) Nat. bank resumes; had suspended payment in December. 5—J. F. Seiberling, formerly manufacturer at Akron, O., files bankruptcy petition; $800,000, assets, $30. 19—John Kehoe, builder of New York, files bankruptcy petition; $1,520,085; no assets. 22—D. Appleton & Co., New York, publishers; $3,000,000. 26—Rutland, Vt., Merchants' Nat. bank Keene, N. H., Five Cent savings bank for $1,449,058; and Guarantee savings bank for $718,873. Apr. 3—Cambridge (Neb.) State bank; $40,000. 12—Yates Center, Kan., Citizens' state bank. 27—Adolph Landauer, dry goods dealer of Milwaukee; $391,945.31. May 11—Frank L. Fuller's private banks at Rockford and Cedar Springs, Mich. 21—Pentwater, Mich., Neilson & Co.'s bank. 26—Price, McCormick & Co., of New York, cotton brokers and shippers; $13,000,000. 28—Seymour, Johnson & Co., stock and cotton brokers of New York; $500,000. Jun. 5—W. C. Shields' bank at Mulberry Grove, Ill. 15—McNair & Alexander, cattlemen at Ashland, Kan.; $542,000. Aug. 13—Henry J. O'Neill, the "barley king," files petition in bankruptcy; $500,000 Kingfisher (Col.) bank; $61,000. 17—Somerset (Ky.) Nat. bank. Sep. 6—Lamont (Ill.) state bank; $12,000. 7—Fifth Avenue Savings & Loan Ass'n., of McKeesport, Pa.; $500,000. 18—Hatch & Foote, New York brokers; $2,000,000. 19—South Danvers Nat. bank, at Peabody, Mass. Nov. 17—German Nat. bank, at Newport, Ky. Dec. 12—Bank at Brillion, Wis. 13—Order of Chosen Friends, large fraternal insurance association. 21—American nat. bank of Baltimore, Md. 25—Isaac Robinson, at Baltimore, Md., manufacturer; $800,000.


Article from Marietta Daily Leader, January 3, 1901

Click image to open full size in new tab

Article Text

BUSINESS FAILURES.

Jan. 3—Wabasha, Minn., People's bank. 6—Rahway, N. J., Union county bank New York, Hulbert H. Warner, patent medicine manf.; $2,319,027. 9—Plankington, S. D., State bank. 17—Chicago, Francis P. Owings, real estate; $5,364,977. Feb. 7—New Bedford, Mass., Henry E. Holcomb, manf.; $1,351,438 Boston, Miner, Beal & Co., clothing firm, $450,000. 26—United States milling combine (flour trust); $15,000,000. Mar. 3—Port Jarvis (N. Y.) Nat. bank resumes; had suspended payment in December. 5—J. F. Seiberling, formerly manufacturer at Akron, O., files bankruptcy petition; $800,000, assets, $30. 19—John Kehoe, builder of New York, files bankruptcy petition; $1,520,085; no assets. 22—D. Appleton & Co., New York, publishers; $3,000,000. 26—Rutland, Vt., Merchants' Nat. bank Keene, N. H., Five Cent savings bank for $1,449,058; and Guarantee savings bank for $718,873. Apr. 3—Cambridge (Neb.) State bank; $40,000. 10—Columbus, O., Reinhard & Co.'s bank; $140,000. 12—Yates Center, Kan., Citizens' state bank. 27—Adolph Landauer, dry goods dealer of Milwaukee; $391,945.31. May 11—Frank L. Fuller's private banks at Rockford and Cedar Springs, Mich. 21—Pentwater, Mich., Neilson & Co.'s bank. 26—Price, McCormick & Co., of New York, cotton brokers and shippers; $13,000,000. 28—Seymour, Johnson & Co., stock and cotton brokers of New York; $500,000. Jun. 5—W. C. Shields' bank at Mulberry Grove, Ill. 15—McNair & Alexander, cattlemen at Ashland, Kan.; $542,000. Aug. 13—Henry J. O'Neill, the "barley king," files petition in bankruptcy; $500,000 Kingfisher (Col.) bank; $61,000. 17—Somerset (Ky.) Nat. bank. Sep. 6—Lamont (Ill.) state bank; $12,000. 7—Fifth Avenue Savings & Loan Ass'n., of McKeesport, Pa.; $500,000. 18—Hatch & Foote, New York brokers; $2,000,000. 19—South Danvers Nat. bank, at Peabody, Mass. Nov. 17—German Nat. bank, at Newport, Ky. Dec. 12—Bank at Brillion, Wis. 13—Order of Chosen Friends, large fraternal insurance association.


Article from Macon Beacon, January 5, 1901

Click image to open full size in new tab

Article Text

BUSINESS FAILURES.

Jan. 3—Wabasha, Minn., People's bank. 6—Rahway, N. J., Union county bank New York, Hulbert H. Warner, patent medicine manf.; $2,319,027. 9—Plankinton, S. D., State bank. 17—Chicago, Francis P. Owings, real estate; $5,364,977. Feb. 7—New Bedford, Mass., Henry E. Holcomb, manf.; $1,351,438 Boston, Miner, Beal & Co., clothing firm, $450,000. 26—United States milling combine (flour trust); $15,000,000. Mar. 3—Port Jervis (N. Y.) Nat. bank resumes; had suspended payment in December. 5—J. F. Seiberling, formerly manufacturer at Akron, O., files bankruptcy petition; $800,000, assets, $30. 19—John Kehoe, builder of New York, files bankruptcy petition; $1,520,085; no assets. 22—D. Appleton & Co., New York, publishers; $3,000,000. 26—Rutland, Vt., Merchants' Nat. bank Keene, N. H., Five Cent savings bank for $1,449,058; and Guarantee savings bank for $718,873. Apr. 3—Cambridge (Neb.) State bank; $40,000. 12—Yates Center, Kan., Citizens' state bank. 27—Adolph Landauer, dry goods dealer of Milwaukee; $391,945.31. May 11—Frank L. Fuller's private banks at Rockford and Cedar Springs, Mich. 21—Pentwater, Mich., Neilson & Co.'s bank. 26—Price, McCormick & Co., of New York, cotton brokers and shippers; $13,000,000. 28—Seymour, Johnson & Co., stock and cotton brokers of New York; $500,000. Jun. 5—W. C. Shields' bank at Mulberry Grove, Ill. 15—McNair & Alexander, cattlemen at Ashland, Kan.; $542,000. Aug. 13—Henry J. O'Neill, the "barley king," files petition in bankruptcy; $500,000 Kingfisher (Col.) bank; $61,000. 17—Somerset (Ky.) Nat. bank. Sep. 6—Lamont (Ill.) state bank; $12,000. 7—Fifth Avenue Savings & Loan Ass'n., of McKeesport, Pa.; $500,000. 18—Hatch & Foote, New York brokers; $2,000,000. 19—South Danvers Nat. bank, at Peabody, Mass. Nov. 17—German Nat. bank, at Newport, Ky. Dec. 12—Bank at Brillion, Wis. 13—Order of Chosen Friends, large fraternal insurance association. 21—American nat. bank of Baltimore, Md. 25—Isaac Robinson, at Baltimore, Md., manufacturer; $800,000.


Article from Willmar Tribune, January 9, 1901

Click image to open full size in new tab

Article Text

BUSINESS FAILURES

Jan. 3—Wabasha, Minn., People's bank. 6—Rahway, N. J., Union county bank New York, Hulbert H. Warner, patent medicine manf.; $2,319,027. 9—Plankinton, S. D., State bank. 17—Chicago, Francis P. Owings, real estate; $5,364,977. Feb. 7—New Bedford, Mass., Henry E. Holcomb, manf.; $1,351,438 Boston, Miner, Beal & Co., clothing firm, $450,000. 26—United States milling combine (flour trust); $15,000,000. Mar. 3—Port Jervis (N. Y.) Nat. bank resumes; had suspended payment in December. 5—J. F. Seiberling, formerly manufacturer at Akron, O., files bankruptcy petition; $800,000, assets, $30. 19—John Kehoe, builder of New York, files bankruptcy petition; $1,520,085; no assets. 22—D. Appleton & Co., New York, publishers; $3,000,000. 26—Rutland, Vt., Merchants' Nat. bank Keene, N. H., Five Cent savings bank for $1,449,058; and Guarantee savings bank for $718,873. Apr. 3—Cambridge (Neb.) State bank; $40,000. 12—Yates Center, Kan., Citizens' state bank. 27—Adolph Landauer, dry goods dealer of Milwaukee; $391,945.31. May 11—Frank L. Fuller's private banks at Rockford and Cedar Springs, Mich. 21—Pentwater, Mich., Neilson & Co.'s bank. 26—Price, McCormick & Co., of New York, cotton brokers and shippers; $13,000,000. 28—Seymour, Johnson & Co., stock and cotton brokers of New York; $500,000. Jun. 5—W. C. Shields' bank at Mulberry Grove, Ill. 15—McNair & Alexander, cattlemen at Ashland, Kan.; $542,000. Aug. 13—Henry J. O'Neill, the "barley king," files petition in bankruptcy; $500,000 Kingfisher (Col.) bank; $61,000. 17—Somerset (Ky.) Nat. bank. Sep. 6—Lamont (Ill.) state bank; $12,000. 7—Fifth Avenue Savings & Loan Ass'n., of McKeesport, Pa.; $500,000. 18—Hatch & Foote, New York brokers; $2,000,000. 19—South Danvers Nat. bank, at Peabody, Mass. Nov. 17—German Nat. bank, at Newport, Ky. Dec. 12—Bank at Brillion, Wis. 13—Order of Chosen Friends, large fraternal insurance association. 21—American nat. bank of Baltimore, Md. 25—Isaac Robinson, at Baltimore, Md., manufacturer; $800,000.