Bank failed and a receiver was appointed by federal authorities, suspending operations.
Newspaper Excerpt
since the failure of the bank, August 27, 1914.
Source
newspapers
same day
3.August 29, 1914Receivership
Newspaper Excerpt
fourth five per cent dividend to creditors of the bank, whose claims have been allowed is ready for distribution. This makes a total of seventy per cent paid in dividends aggregating $244,731 since the failure of the bank, August 27, 1914. (Article noting receiver P. E. Wagner and dividends).
Treasury Department officials have ruled that the receiver of the First National Bank at Sutton may move to Charleston, holding that he can best straighten up the affairs of the unfortunate bank there. However, they inform Congressman Moss. who protested against the removal on behalf of W. F. Morrison and other citizens of Sutton. that they are willing to be convinced otherwise if the citizens of Sutton have stronger and more plausible arguments in support of their position. Otherwise, the headquarters of the receiver may be at Charleston, as he has elected.
2.January 21, 1915The West VirginianFairmont, WV
Click image to open full size in new tab
Article Text
Receiver Moves From Weston to Capital WASHINGTON, D. C..Jon. 21-The Treasury Department officials have ruled that the receiver of the First National Bank ot Sutton may move to Charleston, holding that he can best straighten up the affairs of the unfortunate bank there. However, they inform Congressman Moss, who protested against the removal on behalf of W. F. Morrison and other cit izens, that they are willing to be convinced otherwise if the citizens of Sutton have stronger and more plausble orguments in support of their postion. Otherwise, the headquarters ot the receiver may be at Charleston, as he was elected.
3.June 29, 1915Richmond Times-DispatchRichmond, VA
Click image to open full size in new tab
Article Text
BANK SEEKS TO FORCE THANSFER OF STOCK (Special to The Times-Dispatch.) LYNCHBURG, VA., June 28.-F. E. Wagner, receiver of the First National Bank of Sutton, W. Va., has instituted a suit in the Federal District Court here against the Colonial Bank and Trust Company of Roanoke, in which the receiver 18 seeking to compel the defendant concern to transfer seventyfive shares of stock to the credit of th West Virginia bank. The bill alleges that in August, 1914, the Colonial Bank and Trust Company sold seventy-five shares of its stock to E. W. Mallohan, now a resident of the District of Columbia, which subsequently came into possession of the First National Bank of Sutton, and which has never been transferred to its present holder, although, the bill recites, requests that this be done have not been acceded to. The prayer of the bill is that the Roanoke concern be required to transfer the stock to the First National Bank of Sutton, and that it be required to disclose under oath the amount of dividends that have been paid upon the stock since January 15, 1914.
ner, receiver of the First National Bank of Sutton against M. E. Dennison, J. C. Dennison and J. M. Dennison on a protested negotiable note for $1,500 given by the defendants before the failure of the bank and the receiver was appointed.
United States Marshal Ned Smith said yesterday that the Elkins term of court, which convenes July 6, promises to be rather large. Among the more important cases will be that of Viraldi, the Bellaire Italian charged with white slavery, and that of Joe May of this city, also charged with the same offense. There are about a half dozen speakeasy cases to be heard by the grand jury. Mr. Smith expected to have taken several foreigners of this community to Elkins this week who were arrested charged with bootlegging but as these are awaiting trial by the state the Federal charge will likely be dropped in the majority of cases.
RECEIVER WAGNER Of First National Bank of Sutton, Files Declaration Against Parkersburg Institution. Yesterday a declaration was filed in the federal court through Commissioner George E. Boyd in the case of P. E. Wagner, special receiver for the First National Bank of Sutton, against the Central Bank and Security company of Parkersburg, for $9,732.73, actual amount alleged to be due the
FEDERAL COURT Suits Against Several Parties by Sutton Bank Discharged Gordon Matter Filed. In the recently instituted suits filed by P. E. Wagner, receiver for the First National Bank of Sutton. against L. E Drummond, J. P. Bodkins and others, of the southern part of the state, in the United States District Federal court. an order was entered yesterday morning by Judge A. G. Dayton, and
CHARLESTON: Announcement is made by the comptroller of the currency to P. E. Wagner, receiver of the First National Bank of Sutton, that the fourth five per cent dividend to creditors of the bank, whose claims have been allowed is ready for distribution. This makes a total of seventy per cent paid in dividends aggregating $244,731 since the failure of the bank, August 27, 1914.
8.March 28, 1916The West VirginianFairmont, WV
Click image to open full size in new tab
Article Text
Five Assumpsit Suits. CHARLESTON, W. Va., March 28. -Five assumpsit suits were brought in United States District Court here by P. E. Wagner receiver for the First National Bank of Sutton against endorsers of notes held by the defunct institution. The défendants are John A. Grose, Fred L. Fox, L. H. Kelly, J. E. Cutlip, E. W. Hefner and J. L. Fisher The claims range from $1,000 to $3,500.
9.March 28, 1916The Daily TelegramClarksburg, WV
Click image to open full size in new tab
Article Text
CHARLESTON: Five assumpsit suits have been brought in United States district court here by P. E. Wagner, receiver for the First National Bank of Sutton, against en-
10.April 1, 1916Martinsburg HeraldMartinsburg, WV
Click image to open full size in new tab
Article Text
CHARLESTON. - Five assumpsit suits have been brought in United States district court here by P. E. Wagner, receiver for the First National Bank of Sutton against endorsers of notes held by the defunct institution. The defendants are John A. Crose, Fred L. Fox. L. H. Kelly, J. E. Ctulip, E. W. Hefner and J.L. Fisher. The claims range - from $1,000 to $3,500.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
