Bedford County Bank (Everett, PA)

Episode Information

Episode UID
5898882991017
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
589888299 hash
Start Date
September 15, 1884
Location
Everett, Pennsylvania (40.011, -78.373)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a8d4e0e6b980fcb0

Response Measures

None

Events (2)
1. September 15, 1884 Suspension
Cause
Local Shock
Cause Details
Losses sustained from the failure of the Kemble Coal & Iron Company (local firm) led to suspension.
Newspaper Excerpt
The Bedford County Bank, at Everett, has been obliged to suspend because of the losses sustained in the failure of the Kemble Coal and Iron Company, of Riddlesburg.
Source
newspapers
2. June 15, 1885 Receivership
Newspaper Excerpt
The important litigation growing out of the collapse of the Bedford County Bank at Everett ... entering twenty suits by depositors of the bank against persons who were stockholders in the bank at the time of the failure.
Source
newspapers

Newspaper Articles (9)
1. September 16, 1884 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, September 16, 1884

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TELEGRAPHIC BREVITIES. John Payne, colored, while handling a pistol at Hopkinsville, Ky., was shot through the head and killed. A box-car containing valuable furniture for the World's Exposition, at New Orleans, was burned at that city last night. The Philadelphia Evening Bulletin, the oldest afternoon paper in that city, has All reduced its price from three to two cents. A construction train on the Alabama & Chattanpoga railroad was ditched near York. Engineer Griffin was scalded to death. The Delaney forge and iron works. of Buffalo, has shut down, owing to lack of orders. One hundred men are thrown out of employment. The messenger boys of the Bankers & Merchants' Telegraph Company. at Buffalo, quit work yesterday, owing to non-payment of wages since Aug. 1. Some of the operators claim they have not been paid since July 1. L. P. Herbert, accountant of La Banque de St. Hyacinthe, Montreal, has absconded. He is stated to be $40.000 short. He is also charged with forgery. The bank was obliged to liquidate; it is expected, however, that the institution will pay in full. The Bedford county, Pennsylvania, bank. at Everett, has suspended because of losses in the failure of the Kemble Coal and Iron Company, at Riddlesberg. The officers of the bank say depositors will be paid in full. No statement is made of assets and liabilities. A man and a woman. both unknown, each with a bullet hole in the head, were found dead yesterday, near San Burno. Cal. In the man's pocket was a card with the name, "J.L. Reynolds;" over it, in pencil, were the words. "My mother's address is Mrs. B. R. Gould, 176 State street, Brooklya, N. Y." The estate of W. R. McGill, the deceased president of the Cincinnati Eastern railroad, who was suspected of committing suicide by leaping from a train several months ago, was appraised at $20,000 yesterday. McGill was in debt to various individuals many thousand dollars, which gave rise to false reports, after his death of his being a defaulter to the railroad.

2. September 16, 1884 The Evening Critic Washington, DC
Article from The Evening Critic, September 16, 1884

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# THE MORNING NEWS, Local and General, Boiled Down, Worked Over and Furnished Up Fresh. The strike of the pork butchers in Lim- erick throws 3,000 men into idleness. Heavy rains in Naples have been fol- lowed by a notable decrease in the number of cholera cases. A dynamite cartridge has been found at Leeds, Eng., in a petroleum cask which came from America. Dr. S. K. Jackson, of Norfolk, has been elected president of the Medical Society of Virginia for the ensuing year. The Czar has pardoned forty-two Nihilist sentenced to Siberia, and has commuted the sentence of seventy-three others. Joseph Harvey Wilson, the most noted lawyer in Western North Carolina, died in Charlotte, Sunday, aged 74 years. It is reported that the Chinese have no intention of blockading the Woo-Sung River unless the French make an attack. It is reported that five inches of snow fell at Spring Hill, Cumberland County, N. S., Sunday. There was also two inches of snow at Truro. Hon. John E. Neff, formerly secretary of State of Indiana, died last night in Winches- ter, Ind. He was one of the most prominent men in the State. At Brighton Beach yesterday the win- ners were Riplette, Dan K., Plunger, Rico, Pre- clani and Captain Curry. In the fourth race mutuals paid $307.35. It is understood the report of the exam- iner of the New Brunswick National Bank shows deposits, $631,000; assets, $571,000; premium bonds, $60,000. R. A. Dulany, who has been on trial at Floyd, Va., for the murder of Officer Dehart, was yesterday convicted and sentenced to 18 years in the penitentiary. The Bedford County Bank, at Everett, Pa., has been obliged to suspend because of losses sustained in the failure of the Kemble Coal & Iron Company, of Riddlesburg. The bridge over the Schuylkill River at Pottstown, Pa., was burned at an early hour Sunday morning. It was a wooden structure 475 feet long, and was insured for $5,000. L. P. Herbert, accountant of La Banqua de St. Hyacinthe, at Montreal, has absconded to the United States. He is $40,000 short in his accounts. He is also charged with forg- ery. Beacon Lodge, No. 15, I. O. O. F., cale- brated their fortieth anniversary at their lodgeroom last night. Nearly all the mem- bers were present and an enjoyable time was had. The Sovereign Grand Lodge of Odd-Fel- lows of the World met at Minneapolis, Mino., yesterday. The reports show about 506,000 lodge members and 90,000 encampment mem- bers. A social gathering of the colored resi- dents of Tennallytown took place yesterday at the residence of Thornton Lewis. Mr. Peterson and the Misses Wilson received the guests. The Czar and Czarina of Russia, Em- peror Franz Josef of Austria and Emperor William of Germany met at Skiernewic, Po- land, yesterday, and formally embraced one another. The Republican Convention at Suffolk, Va., yesterday, to nominate a candidate for Congress from that district in opposition to Harry Libby, placed in the field a colored man named James Mitchell, from York County. Mr. B. H. Warner, the real estate dealer, has begun the erection of a handsome double residence for his own use on Massachusetts avenue and Twenty-first street. The structure will be built of stone and elegantly furnished. It is stated that the price paid for the fleet of twenty-six vessels sold by the China Merchants' Navigation Company to an Ameri- an company was 5,250,000 taele, equal to $6,500,000, which is below their original ost. Mr. Eugene F. Reed, of Georgia, a clerk in he Pension Office, and Miss Maggie A. Bayliss, of 220 F street, were married at St. Aloysius Church yesterday afternoon at 4 o'clock. The bride and groom left at 5:30 for a summer trip. Monsignor Alfred Duquesnay, Bishop of Limoges, is dead. He was born at Rouen in September, 1814. He was for many years the pastor of the Church of Saint Laurent, at Paris, and was advanced to the bishop's rank in 1871. The messenger boys of the Bankers and Merchants' Telegraph Company in Buffalo, N. Y., all quit work yesterday, owing to their not having been paid since August 1. Some of the operators claim that they have not been paid since July 1. N. C. Thompson's bank, at Rockford, Ill., closed yesterday morning. Mr. Thompson posted a notice on the door stating that owing to the stringency in the money market he was unable to meet his obligations. The liabilities are stated to be $500,000. Among the passengers from Panama who arrived in New York yesterday are Frederick Boyd, Consul-General of Salvador, and family; Samuel Boyd, one of the proprietors of the Panama Star and Herald, and Senor Ricardo Beciva, Colombian Minister to Washington. Members of the Democratic electoral ticket of New Jersey recently requested Attor- ney-General Stockton's opinion as to the eligi- bility of bank presidents and cashiers to serve on the electoral ticket. The attorney-general has given it as his opinion that such officials are eligible. Dr. James Dennis Pitts, charged with killing Dr. Littleton Thomas Walter, May 17, 1884, on Tangier Island, Accomac County, Va., was found guilty at Hampton yesterday of murder in the second degree, and his punish- ment was fixed by the jury at 18 years in the penitentiary. While several members of the party of British scientists in the Rocky Mountains were exploring a railway tunnel below Kicking Horse Lake Friday, four miles of the tunnel collapsed, precipitating an immense mass of rock in the midst of the party, two of whom were slightly injured. C. R. Milliken, proprietor of the Glen House, Glen House, N. H., yesterday arrested F. E. Smith, of Belgrade, for stealing over $2,000 worth of diamonds and jewelry from the room of Miss Abbie Knight, of Washing- ton. The valuables were found on his person, and he pleaded guilty. The Western North Carolina Railway ex- tension, from Salisbury to Paint Rock and from Asheville to the mouth of the Nautahala River, nearly 200 miles, has been completed, and the purchase money of $600,000 paid into the State Treasury by the Richmond & West Point Terminal Company, to which the deed will be shortly delivered. The Evening Bulletin, the oldest afternoon paper in Philadelphia, reduced its price yes- terday from three to two cents. Mr. Wharton Barker, representing the American Company, has purchased the Philadelphia Chronicle Herald, which will hereafter be Republican and favor a strong protective tariff. The American Company will also control the Sun- day Mercury. Rev. Stephen P. Hill, D. D., one of the oldest residents of the city, and brother-in- law of Mr. W. W. Corcoran, died suddenly of heart disease at his residence yesterday, in the 79th year of his age. Deceased in former years was a well known divine, but of late years did not appear in public often. His funeral will take place at the Thirteenth Street Baptist Church, at 3:30 o'clock to-mor- row afternoon. George Latham, editor of the Statesville N.C.) American, was found dead in his room Saturday morning. He had been drinking hard. He left the following note to a man who roomed next to him: "My kindest regards to you. You are the only gentleman in States- ville. All the others may go to hell." He then drank a quantity of laudanum. Latnam was formerly a Democrat, and when he went over to the Republicans he was repudiated by his family. Charles W. Rouse was acquitted by Judge Phelps in the Criminal Court of Balti- more yesterday of the charge of abducting Mary Robinson, 16 years old, from her home and going on a trip to Philadelphia as a mar- ried pair. The testimony of the girl was that house threatened if she did not go with him.

3. September 17, 1884 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, September 17, 1884

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Suspension of a Pennsylvania Bank. Philadelphia, Pa., September 15.-A special to the Times from Huntingdon, Pa., says: "The Bedford County Bank, at Everett, has been obliged to suspend because of the losses sustained in the failure of the Kemble Coal and Iron Company, of Riddlesburg. The officers of the bank say that depositors will be paid in full. No statement has been made of the assets and liabilities."

4. September 22, 1884 Savannah Morning News Savannah, GA
Article from Savannah Morning News, September 22, 1884

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1884 Corresp'g weeks. Past Previ's 1881. 1882. 1883. week. week. States. 23 27 38 47 54 Middle 14 22 37 20 21 New England 12 25 21 22 37 Southern 30 40 52 70 68 Western Pacific and Ter17 27 29 21 26 ritories -141 96 177 180 206 Totals 20 14 26 23 18 Canada About 82 per cent. were those of small traders whose capital was less than $5,000. Among the suspensions reported were Rindskopf, Brothers & Co., wholesale clothing, and J. K. Wells & Co., wholesale coal, New York; Thomas H. Belcher, dry goods, Philadelphia; Norman C. Thompson, banker, Rockford, Ill.; Bedford County Bank, Everett, Pa.; Danner Land and Lumber Co., Mobile, Ala. In the principal trades they were as follows: General stores, 31; grocers, 24; manufacturers, 19; butchers and markets, 11; dry goods, 10; liquors, 10; clothing, 9; hardware and agricultural implements, 9; hotels and restaurants, 9; drugs, 8; bakers and confectioners, 7; fancy goods, 5; lumber 5; paper, books, etc., 5; shoes 4; coal aud wood, 4; grain and flour, 4; jewelry, 4; men's furnishing goods, 4; produce and provisions, 4; banks and bankers, 3; carpenters and builders, 3; furniture, 2. ALABAMA. Cherokee.-R. C. Malone, general store, sold out to creditors and attached. Goodroater.-Batson Brothers, general store, assigned. Mobile-Danner Land and Lumber Company suspended and called meeting of creditors. Liabilities, $80,000; nominal assets, $320.000, in mills, logs and lumber. FLORIDA. Maitband.-R. L. Campbell, general store, ASS gned to G. H. Long. GEORGIA. Atlanta.-Union Stock Yard, Dairy and Manufacturing Company, application for receiver. It was recently sued for $18,000. The business was not successful, owing, it is said, to poor management. It had a nominal capital stock of $500,000. NORTH CAROLINA. New Berne.-John Detrick, liquors, assigned. J. W. Moore, clothing, assigned to E.B. Hackburn; preferences $2,500. He was recently burnt out; loss $5,000; insurance $2,000. TENNESSEE. Columbia.-F. M. Nicho's, saloon, "assigned. Liabilities $1,800; assets $700. New River -M. F. Hurt, general store, assigned to R. Hurt.

5. September 26, 1884 The Middlebury Register and Addison County Journal Middlebury, VT
Article from The Middlebury Register and Addison County Journal, September 26, 1884

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NEWS SUMMARY Eastern and Middle States. THE Bedford County bank, at Leverett, Penn., has been obliged to suspend because of losses sustained by the failure of the Kemble Coal and Iron Company, of Riddlesburg. The officers of the bank say the depositors will be paid in full. PRESIDENT SEELYE, of Amherst college, has declined the Massachusetts Prohibition nomination for governor. OFFICIAL returns give the following complete figures of the vote for governor of Maine: Robie; 78,912; Redman, 59,061; H. B. Eaton, 3,137; Eustis, 1,190; W. F. Eaton, 97: scattering, 16. This shows a Republican plurality of 19,851, and a majority of 15,411. PRESIDENT SEELYE denies that he has refused the Prohibition nomination for governor of Massachusetts. A STATUE of General John Fulton Reynolds, who was killed at the battle of Gettysburg, was unveiled in front of the city hall, in Philadelphia. The Grand Army paraded in honor of the event and an artillery squad fired a salute. EX-SPEAKER BLAINE, on his trip to the West, was received at New York with an ovation by a crowd. RINDSKOPF, BROTHERS & Co., an old New York wholesale clothing house, have failed for nearly a million dollars. A NUMBER of miners were ascending a mine near Pottsville, Penn., when a heavy piece of timber came tumbling down from the top and knocked two of the men off the cage to the bottom, a distance of 600 feet. The two men were instantly killed, and two others hurt. who were struck by the timber were badly

6. September 26, 1884 The Kimball Graphic Kimball, SD
Article from The Kimball Graphic, September 26, 1884

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Miscellaneous News Notes. Willis Bristol, boots and shoes, of New York, has made an assignment. He is estimated to be worth $50,000. Marie Louise de Welfe, the wife of Harold de Wolfe, who recently married Miss Bebe Vining, the actress, and who is now a prisoner in Canada, has begun & suit for a divorce. The examination into the condition of the New Brunswick bank, wrecked by Runyon and Hill, shows that the liabilities are $630,000, and the 000. assets $570,000 leaving a deficiency of $60,Aaron Hoey, a wealthy old Pennsylvania farmer, met Pauline Somebody at Pottsville, and wanted to marry her right off. She managed to work him for about $2,000 and then went elsewhere. The Bedford county bank at Everett, Pa, has suspended because of losees in the failure of the Kemble Coal and Iron company. Depositors, it is said, will be paid in full. Assets and liabilities unknown. The authorities of Victoria, B. C., did everything they could to prevent Ingersoll from delivering his lecture on "Orthodoxy" there, but the people were with him, and broke open the opera house, locked up by the authorities. He lectured amid wild enthusiasm. In Indianapolis, John C. Harrison, receiver of the Indiana Banking company, and his bondsmen paid into court the entire balance, $95,448, and was released from further liability by the court. The bondsmen will lose nothing. It is understood that the criminal proceedings can not be sustained, but will be dismissed. Ottawa, Ont, Special. Excitement reigned here recently in society circles when it was rumored that the son of Hon. John Carling, postmaster general, eloped with the daughter of a prominent lumberman of this city. Both are minors. He is a gay young fellow some seventeen years, while the object of his adoration cannot be more than sixteen summers. They have kept company for upward a year or 80 with consent of parents, who only objected to their marriage owing to their tender years. But their young hearts could not beat happily by being longer separated, and consequently they took flight, so it is said, for Boston on Saturday, where the youthful lady has a sister, and where they were to be united in marriage

7. October 1, 1884 The Home Journal Winchester, TN
Article from The Home Journal, October 1, 1884

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NEWS SUMMA Eastern and Neididle States, THE Bedford County bank, at Leverett, Penn., has been obliged to suspend because of losses sustained by the failure of the Kemble Coal and Iron Company, of Riddlesburg. The officers of the bank say the depositors will be paid in full. PRESIDENT SEELYE, of Amherst college, has declined the Massachusetts Prohibition nomination for governor. OFFICIAL returns give the following completo figures of the vote for governor of Maine: Robie: 78,912; Redman, 59,001; H. B. Eaton, 8,137; Eustis, 1,190; W. F. Eaton, 97: scattering, 16. This shows a Republican plurality of 19,851, and a majority of 15,411. PRESIDENT SEELYE denies that he has refused the Prohibition nomination for governor of Massachusetts A STATUE of General John Fulton Reynolds, who was killed at the batile of Gettys. burg, was unveiled in front of the city hall, in Philadelphia. The Grand Army paraded in honor of the event and an artillery quad fired a salute. Ex SPEAKER BLAINE. on his trip to the West, was received at New York with an ovation by a crowd. RINDSKOPF, BROTHERS & Co., an old New York wholesale clothing house, have failed for nearly a million dollars. A NUMBER of miners were ascending a mine near Pottsville, Penn., when a heavy piece of timber came tumbling down from the top and knocked two of the men off the eage to the bottom, a distance of 600 feet. The two men were instantly killed, and two others who were struck by the timber were .badly hurt

8. October 3, 1884 The Kimball Graphic Kimball, SD
Article from The Kimball Graphic, October 3, 1884

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General News Items. Buchanan Bros., New York clothiers, assigned for $400,000. Near Worcester, Mass., H. H. Jacobs, of the firm of Phillips & Jacobs, chemists of Philadelphia, was found naked in the woods yesterday, suffering from exposure and evidently not in his right mind. The cloth cutters of New York have resolved not to allow any of their families to buy Chicago dressed beef, and have asked the Central Labor union to call a mass meeting at an early day to consider the Subject. Lord Tennyson is represented to be furious over the determination of a New York publishing house to include in a new edition of his works all the earlier poems which he suppressed, particularly the onesatizizing BulwerLytton. Mr. Coningsby Disraeh, Lord Beaconsfield's nephew and heir, who has been yachting with Sir George Elliot, by whom he was presented to the prince of Wales at Newcastle, is about to make his first apperrance in public as an amateur singer. Rev. Dr Newman Hall of London preached in Mount Vernon church last Sunday to a crowded congregation, from the text Romans, viii, 28. In the afternoon and evening Dr. Hall preached to very crowded assemblies in Tremont Temple. His afternoon sermon was prefaced by a few remarks in which he declared himself a total abstainer and persistent advocate of temperance practices. The statement is made that Miss Etta Turnbull, the only daughter of N. S. P. Turnbull, a wealthy pork packer of Chicago has eloped with Alexander Nervon, employed in Turnbull's packing establishment for a number of years as a slaughterer. She is described as handsome, and was a member of the South Side Episcopal church choir. Nervon is said to have acquired some means of his own and is a man of fine physical appearance. There were 206 failures in the United States reported to Bradstreet's during the week ending the 20th against 180 in the preceding week, and 177, 141 and 96 in the corresponding weeks of 1883, 1882 and 1881, respectively. About 82 per cent were those of smaller traders whose capital was less than $500. Among the suspensions reported were: Rindskopf Bros. & Co., wholesale coal, New York; Thomas H. Belcher, dry goods, Philadelphia; Norman C. Thompson, banker, Rockford, Ill.; Bedford county bank, Everett, Pa. ; Danner Land and Lumber company, Mobile, Ala.

9. June 16, 1885 New-York Tribune New York, NY
Article from New-York Tribune, June 16, 1885

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SUITS AGAINST BANK STOCKHOLDERS HUNTINGDON, Penn., June 15 (Special).-The important litigation growing out of the collapse of the Bedford County Bank at Everett, which in various shapes has occupied the attention of the courts of Bed. ford, was transferred to this county to-day by the entering of twenty suits by depositors of the bank against persons who were stockholders in the bank at the time of the failure. The number of suits to be ultimately brought is limited only by the number of creditors the bank may have had. The amount involved is large, and the facts and legal questions are intricate. The defendants are William P. Orbison, William Dorris, John Scott, George M. Garretson, David P. Gwyn, Horatio G. Fisher, John H. Glazier, and H. G. Fisher and John M. Bailey, executors of Thomas Fisher, who are known as the Huntingdon County stockholders ; and Samuel L. Russell, Jacob Williams, John M. Barnedollar, Simon Nyeum, John Dubois and Joseph Harris, known as the Bedford County stockholders. These, with James M.JBell and James M. Barnedollar. now dead, established the bank in 1870. There were withdrawals of Huntingdon County stockholders at various times, among the earliest being that of W. P. Orbison and John Scott. In 1881 the reat withdrew, returning their capital to the First National Bank of Huntingdon, of which they were all stockhold. ers. No notice, it is alleged by the plaintiffs in the suits, was given of the withdrawal, and, although the deposits now sought to be recovered were since made, it is claimed that the withdrawing stockholders are liable for them. The latter allege that their action was so well known to the public that no deposit could have been made afterward upon the credit of their connection with the bank. No judgments can be obtained here against Bedford County stockholders, because, although the of necessarily joined in the suits, no service legal process can be made on them on account of their nonresidence. Their interests are really with the plaintiffs, as they desire the Huntingdon County stockholders to share the liabilities of the bank, and It is believed that it is at their instance that the suits are brought.