Bolivar National Bank (Bolivar, PA)

View Charter #6135 on SPMC View balance sheet

Episode Information

Episode UID
613501245
Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
61350 national
Charter Number
6135
Start Date
September 10, 1903
Location
Bolivar, Pennsylvania (40.397, -79.152)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f00125acd7bc9e1d

Response Measures

Full suspension

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1903-10-01
Date receivership terminated
1906-10-09
OCC cause of failure
Fraud
Share of assets assessed as good
55.0%
Share of assets assessed as doubtful
45.0%

Events (7)
1. February 24, 1902 Chartered
Source
historical_nic
2. September 10, 1903 Run
Cause
Rumor Or Misinformation
Cause Details
Persistent withdrawals for about three weeks after circulation of a rumor that the bank was unsafe.
Measures
Directors met and decided to close the doors after continued drain of deposits.
Newspaper Excerpt
the Bolivar National Bank closed its doors to-day, following a quiet but persistent run on the institution, which began some three weeks ago with the circulation of a rumor that it was unsafe.
Source
newspapers
3. October 1, 1903 Receivership
Source
historical_nic
4. October 1, 1903 Receivership
Newspaper Excerpt
Bank Examiner John B. Cunningham has been appointed receiver of the Bolivar National Bank, of Bolivar, Pa.; the president telegraphed that the bank was insolvent and had closed its doors.
Source
newspapers
5. October 1, 1903 Suspension
Cause
Rumor Or Misinformation
Cause Details
Directors closed the bank following a persistent run driven by rumors; president reported insolvency and doors were closed.
Newspaper Excerpt
The president of the bank telegraphed the Comptroller that his bank was insolvent and he had closed its doors. Bank Examiner John B. Cunningham has been appointed receiver.
Source
newspapers
6. October 15, 1906 Restored To Solvency
Source
historical_nic
7. February 1, 1939 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (11)
1. October 1, 1903 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, October 1, 1903

Click image to open full size in new tab

Article Text

TWO BANKS FAIL. One at Greenfield, Mass., and One at Bolivar, Pa. Washington, Oct. 1.-The comptroller of the treasury has received telegrams announcing the failure of two national banks, the Packard National bank of Greenfield, Mass., of which Bank Examiner Frank T. Fish has been appointed a receiver, and the Bolivar National bank of Bolivar, Pa., of which Bank Examiner John B. Cunningham has been appointed receiver. The president of this bank telegraphed the comptroller that his bank was insolvent and he had closed its doors.

2. October 1, 1903 Evening Star Washington, DC
Article from Evening Star, October 1, 1903

Click image to open full size in new tab

Article Text

TWO BANK FAILURES. Packard of Greenfield, Mass., and Bolivar of Bolivar, Pa. The controller of the currency has received telegrams announcing the failure of two national banks, the Packard National Bank of Greenfield, Mass., of which Bank Examiner Frank L. Fish has been appointed receiver, and the Bolivar National Bank of Bolivar, Pa., of which Bank Examiner John B. Cunningham has been appointed receiver. The president of this bank telegraphed the controller that his bank was insolvent and he had closed the doors. The resources and liabilities of the Bolivar National Bank as shown by the last report of its condition to the controller of the currency September-9, 1903, were as follows: ResourcesLoans and discounts, $84,552; U S. bonds to secure circulation, $10,862; stocks, securities, claims, etc., $13,000; real estate, $9,088; due from banks and bankers, $12,209; cash and eash items, $6,600; total, $136,320. Liabilities-Capital stock. $30,000; surplus funds and undivided profits, $2,649; circulation, $10,000; individual deposits, $92,878; bills payable, $792; total, $186,320. This bank was organized October 16, 1901. The resources and liabilities of the Packard National Bank, as shown by the last report of condition to the controller of the currency, September 9, 1903, were as follows: Resources-Loans and discounts, $417,923; United States bonds to secure circulation, $104,500; real estate, $3,000; due from banks and bankers, $5,458; cash and cash items, $24,595. Total, $555,477. Liabilities Capital stock, $100,000; surplus funds and undivided profits, $16,864; circulation, $100,000; due to banks and bankers; $103,224; individual deposits, $228,755; unpaid dividends, $432; notes and bills rediscounted and bills payable, $6,179. Total, $555,477. This bank was organized May 17, 1873.

3. October 1, 1903 Santa Fe New Mexican Santa Fe., Santa Fe, NM
Article from Santa Fe New Mexican, October 1, 1903

Click image to open full size in new tab

Article Text

TWO NATIONAL BANKS HAVE GONE TO THE WALL. Washington, Oct. 1-The comptroller of the treasurer has received elegrams announcing the failure of two national banks, the Packard National bank, of Greenfield Mass., and the Bolivar National bank of Bolivar, Pa. Receivers were appointed in each case.

4. October 1, 1903 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, October 1, 1903

Click image to open full size in new tab

Article Text

FROM WASHINGTON. [Correspondence of the Alexandria Gazette.] Washington, D. C., Oct. 1. Senator Stewart, of Nevada, called at the White House this morning to discuss the labor question with the President. "I told him that if he wins the fight he now has on his hands that he will be immortal," said Senator Stewart. "If 3,000,000 men are able to control 90,000,000 people, the death of the American republic will follow. The President has begun a fight for a new Declaration of Independence and the crisis we are approaching is the greatest that has confronted the country sincethe republic was formed. If the President backs down from the stand he has taken, we will have a battle to the death between the forces of union labor and the millions of people in the country who demand the right to labor and live as they please. If the President stands firm in his position he will be reelected, if he backs down he will be beaten." The Comptroller of the Currency has appointed National Bank Examiner John B. Cunningham receiver of the Bolivar National Bank, of Bolivar, Pa., on receipt of a telegram from the president of the bank, E. R. Hammond, that it is insolvent and he has closed its doors. The resources and liabilities of the bank, as shown by the last report were $136,320. 85. The Comptroller of the Currency has alsoappointed National Bank Examiner Frank I. Fish, receiver of the Pack ard National Bank, of Greenfield, Mass., which closed its doors yesterday. The resources and liabilities of the bank, as shown by the last report were $555, 477.32. Indiana admits that Senator Fairbanks is no longer in the running for the Presidency. Mr. Hemenway of that State, called this morning to see the President, and as he left the White House told the correspondents that there was "no one else in sight but Roosevelt. "Of course," said Mr. Hemenway, "there is nothing in the gift of the State of Indiana that Senator Fairbanks could ask for that he could not have. But unless there isa most remarkable change, Senator Fairbanks will not appear as a candidate before the convention. President Roosevelt is the only man in sight. As for Senator Fairbanks appearing as a candidate for the Vice Presidency there is nothiug in that rumor. Senator Fairbanks is not a candidate for the vice Presidency. Of course, if the convention should offer him the place on the ticket he might possibly feel compelled to accept, but with SO many excellent men in the party striving for the nomination, it is altogether unlikely that his name will be offered." President Roosevelt has an interesting postoffice controversy to decide at Lincolnton, N. C. It is a battle between a politician and a handsome widow whose husband was a personal friend and comrade in arms of the President. The fair combatant, Mrs. Margaret Shipp, called at the White House this morning under the wing of Ex-Senator. now Judge, Pritchard. Judge Pritchard assured the correspondents that he was taking no hand in the matter but called with Mrs. Shipp merely to introduce her to the President. The President heard Mrs. Shipp's argument and told her that he would give the matter his most careful consideration, Mrs. Shipp's husband, Lieutenant Wm. E. Shipp, was killed at San Juan Hill. On the night before the battle he shared his dinner with Col. Roosevelt and in the morning of the engagement the future President livided his breakfast with the Lieutenant. The incumbent of the Lincolnton postmastership, A. L. Barkley, wants the job again and is backed by the republican organization of the county. Senor Pulido, secretary of the Venezuelan legation here, called at the State Department this morning to make arrangements for the presentation to the President of Senor Hernandez (Ek Mocho), the new minister to the United States from Venezuela. Although no definite date was fixed today, it is expected that the ceremony will take place at the White House one day next week. The republican factions in Delaware are more badly split up than ever. The matter of patronage is the bone of contention and the twoSenators held a conference with the president today. After listening to their argument the president is understood to have "read the riot act"

5. October 1, 1903 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, October 1, 1903

Click image to open full size in new tab

Article Text

Packard National at Greenfield, Mass., and Bolivar National at Bolivar, Pa. RECEIVERS ARE APPOINTED The Bolivar Bank's President Telegraphs That His Concern is Insolvent Consolidation of All Gould Lines West of Pittsburg is ContemplatedThe News. Washington, Oct. 1.-The comptroller of the currency received telegrams announcing the failure of two national banks-the Packard National bank, Greenfield, Mass., and the Bolivar National bank, Bolivar, Pa., and has appointed bank examiners as receivers. The president of the Bolivar bank telegraphed that his bank was insolvent.

6. October 2, 1903 New-York Tribune New York, NY
Article from New-York Tribune, October 2, 1903

Click image to open full size in new tab

Article Text

NATIONAL BANKS FAIL. One Goes Under in Bolivar, Penn., and One in Greenfield, Mass. Washington, Oct. 1.-The Controller of the Currency has received telegrams announcing the failure of two national banks, the Packard National Bank. of Greenfield, Mass., of which Bank Examiner Frank L. Fish has been appointed receiver, and the Bolivar National Bank. of Bolivar, Penn., of which Bank Examiner John B. Cunningham has been appointed receiver. The president of this hank telegraphed the Controller that his bank was Insolvent, and he had closed its doors. Johnstown, Penn.. Oct. 1.-The Bolivar National Bank closed its doors to-day. following a quiet but persistent run on the institution. which began some three weeks ago with the circulation of a rumor that it was unsafe. Since then there has been a constant drain. and at a meeting last night the directors decided to close the doors. President E. R. Hammond says that the bank will be able to meet Its obligations.

7. October 2, 1903 The Washington Times Washington, DC
Article from The Washington Times, October 2, 1903

Click image to open full size in new tab

Article Text

NATIONAL BANK FAILURES. Failures of two national banks have been reported to the Comptroller of he Currency, the Packard National Bank, of Greenfield, Mass., and the Bolivar National Bank, of Bolivar, Pa. Bank Examiner Frank L. Fish has been appointed receiver of the bank at Greenfield, and Bank Examiner John B. Cunningham of the one at Bolivar. The Bolivar bank has been subjected to a persistent run for about three weeks. President E. R. Hammond says the bank will be able to meet all obligations.

8. October 2, 1903 The Savannah Morning News Savannah, GA
Article from The Savannah Morning News, October 2, 1903

Click image to open full size in new tab

Article Text

Two National Banks Fail. Washington, Oct. 1.-The controller of the currency has received telegrams announcing the failure of two national banks-the Packard National Bank, of Greenfield, Mass., of which bank Examiner Frank L. Fish has been appointed receiver, and the Bolivar National Bank of Bolivar, Pa., of which Bank Examiner John B. Cunningham has been appointed receiver.

9. October 2, 1903 The Montgomery Advertiser Montgomery, AL
Article from The Montgomery Advertiser, October 2, 1903

Click image to open full size in new tab

Article Text

Two Banks Fail. Washington, Oct. 1.-The Comptrollers of the Currency has received telegrams reporting the failure of two national banks, the Packard National bank of Greenfield, Mass., of which Bank Examiner Frank L. Fish has been appointed receiver, and the Bolivar National bank, of Bolivar. Pa., of which Bank Examiner John B. Cunningham has been appointed receiver. The President of this pank telegraphed the Comptroller that his bank was insolvent and he had closed its doors.

10. October 7, 1903 The Fulton County News McConnellsburg, PA
Article from The Fulton County News, October 7, 1903

Click image to open full size in new tab

Article Text

Two Banks Fail. Washington, D. C. (Special).-The comptroller of the currency has received telegrams announcing the failure of two national banks-the Packard National Bank of Greenfield, Mass., of which Bank Examiner Frank L. Fish has been appointed receiver, and the Bolivar National Bank of Bolivar, Pa., of which Bank Examiner John B. Cunningham has been appointed rereceiver. The president of this bank telegraphed the comptroller that his bank was insolvent and be had closed its doors.

11. October 10, 1903 Democratic Messenger Snow Hill, MD
Article from Democratic Messenger, October 10, 1903

Click image to open full size in new tab

Article Text

Two Banks Fail. Washington, D. C. (Special).-The comptroller of the currency has received telegrams announcing the failure of two national banks-the Packard National Bank of Greenfield, Mass., of which Bank Examiner Frank L. Fish has been appointed receiver, and the Bolivar National Bank of Bolivar, Pa., of which Bank Examiner John B. Cunningham has been appointed rereceiver. The president of this bank telegraphed the comptroller that his bank was insolvent and he had closed its doors.