First National Bank (Falls Creek, PA)

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Episode Information

Episode UID
638401233
Episode Type
Suspension β†’ Reopening
Bank Type
national
Bank ID
63840 national
Charter Number
6384
Start Date
September 17, 1902
Location
Falls Creek, Pennsylvania

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
64e5c0330fa08df0

Response Measures

None

Events (3)
1. August 16, 1902 Chartered
Source
historical_nic
2. September 17, 1902 Other
Newspaper Excerpt
Falls Creek has a first National bank. It was opened for business last Wednesday.
Source
newspapers
3. March 4, 1933 Suspension
Cause
Government Action
Cause Details
Statewide bank holiday declared by Governor Pinchot ordering banks closed Saturday and Monday to stem withdrawals.
Newspaper Excerpt
I hereby declare a bank holiday throughout Pennsylvania on Saturday, March 4, 1933, and Monday, March 6, 1933.
Source
newspapers

Newspaper Articles (3)
1. September 24, 1902 The Star Reynoldsville, PA
Article from The Star, September 24, 1902

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Article Text

meeting Monday evening. To repair a leak in the water line at corner of Main and Sixth streets, the water was shut off several hours Sunday forenoon. Ex-postmaster E. T. McGaw intends starting a bakery about the first of next year in the building now occupied by D. M. Bolger's tailorshop. Do you want a position as bookkeeper, stenographer, typist or office assistant? If so, communicate with the Reynoldsville Business College at once. Ex-County Commissioner Samuel States and wife, and Joseph States and wife, of near Punxsutawney, attended the funeral of George Roller, sr., at this place last Thursday. The eighteenth annual convention of the Woman's Home Missionary Society of the Clarion Presbyterian will be held in the Presbyterian church, at Punxsutawney, October 8th and 9th. Frank Parker is night policeman and watchman to take the place of John Pomroy, who has resigned. Mr. Pomroy had been policeman for several years and he performed his duties faithfully. Falls Creek has a first National bank. It was opened for business last Wednesday. J. A. Miller, who was cashier of the Citizens' National bank at Big Run a number of years, is cashier of the new bank. Harry Herpel, son of Mr. and Mrs. Charles A. Herpel, who was to have returned to Cornell University, Ithaca, N. Y., Monday after spending the summer vacation here, is now down with typhoid fever. There will be a meeting of the Young Men's Reading Room Association in their rooms in Hoover building at 8.00 o'clock Wednesday evening, Sept. 24. A full attendance is desired to elect officers for the coming year. The following students have enrolled in the Reynoldsville Business College within the past week: George Reynolds, Charles Mohney, Wallace Mitchell, Michael Petrella, Kate Nolan, John Wildaur and Frank Bohren. On Monday the public schools began the third week's work with an enrollment of 535 pupils. The different departments are in good running order and the teachers and pupils anticipate good results from their labor. The amateur dramatic company played "Old Time Fun" in the Fourth street play house Saturday afternoon. Admission one cent. Door receipts $1.08.- Comedian Burns manipulated the base drum in street parade. "The Folks Up Willow Creek" was played by Frank Davidson and his company to a full house in the Reynolds opera house last Thursday evening. This is a good company and the large audience was well pleased with the play. George H. Parker, of DuBois, and Miss Mary C. Hilburn, of Troutville, were married at the Reformed parsonage in Troutville on the evening of September 16, 1902. Rev. S. Chas. Stover, pastor, performed the ceremony. Will Foltz had his right foot badly cut with a hatchet one day last week while baling hay at John M. Syphrit's. Will was on baler with hatchet in hand and he fell off baler and struck terra firma before the hatchet got down and it stuck in his foot. Mr. and Mrs. Thomas C. McEnteer, Mr. and Mrs. Daniel Nolan, Miss Kate Nolan, Mrs. Joseph Weist, Frank J. Black, C. M. Leird, Barney Phalen and P. McDonald were in New Bethlehem last Thursday attending the funeral of A.- E. Fasenmyer. Mr. and Mrs. I. M. Hoch were at Driftwood Thursday evening attending the wedding of E. E. Shindledecker, a telegraph operator at Driftwood, and Miss Grace Dougherty, daughter of Thomas Dougherty. The bride is a niece of J. C. Ferris, of Reynoldsville. Rev. Perry A. Reno and family and Prof. George W. Lenkerd received invitations to attend the wedding of Miss Caroline Belle Nichols, the elocutionist who instructed the high school class in 1900, and Frederick Irving Tucker at Boston, Mass., October 7th. Reynoldsville Business College has added a shorthand course, taught by mail, to the regular college course. This has been made necessary on ac-

2. 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 CorpoΠ³Π°- 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

3. 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.