Monongahela National Bank (Brownsville, PA)

Episode Information

Episode Type
Suspension โ†’ Closure
Start Date
April 6, 1931
Location
Brownsville, Pennsylvania (40.020, -79.890)
Bank Type
national
Charter Number
648

Metadata

Receivership Details

Depositor recovery rate
46.0%
Date receivership started
1931-04-16
OCC cause of failure
Economic conditions
Share of assets assessed as good
29.4%
Share of assets assessed as doubtful
63.1%
Share of assets assessed as worthless
7.5%

Notes

Articles show the bank closed in spring 1931 and subsequently in receivership; article dates give April 6 closure while government-record receivership is 1931-04-16.

Events (7)

1. December 24, 1864 Chartered
Source
historical_nic
2. April 6, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed in early April 1931 (reported as closed April 6), implying insolvency leading to suspension
Newspaper Excerpt
Monongabela National Bank of Brownsville closed April 6 1931
Source
newspapers
3. April 16, 1931 Receivership
Newspaper Excerpt
closed last spring. Receiver Lloyd Littrel estimated ... payment as 15 per cent of the total deposits of the institution, closed last spring.
Source
newspapers
4. April 16, 1931 Receivership
Source
historical_nic
5. December 1, 1931 Other
Newspaper Excerpt
Between $550,000 and $560,000 ... being distributed among the depositors of the closed Monongahela National Bank here. Receiver Lloyd Littrel estimated the payment as 15 per cent of the total deposits of the institution, closed last spring.
Source
newspapers
6. July 25, 1932 Other
Newspaper Excerpt
Within the next fortnight the Monongabela National Bank of Brownsville closed April 6 1931 will pay second dividend of 10 per cent.
Source
newspapers
7. December 31, 1934 Other
Newspaper Excerpt
Harry A. Cotton, counsel for the receivers of the Monongahela National Bank of Brownsville, got judgment against small railroad line and the tangible assets proved to be the engine and car.
Source
newspapers

Newspaper Articles (10)

Article Text

Brownsville Bank Will Pay $550,000, Initial Dividend Special to The Courier. Rent BROWNSVILLE, Dec. 1.-Between $550,000 and $560,000 16 being distributed among the depositors of the closed Monongahela National Bank here. Receiver Lloyd Littrel estimated Estate the payment as 15 per cent of the total deposits of the institution, closed last spring. Those living in distant places will receive their checks by mail while those in the borough and immediate vicinity will call for them at the bank. Pole Climber Killed. JOHNSTOWN, Dec. 1.-Robert Lill, 11, climbed pole near his home last night and came in with an electric wire. He was hurled to the street by the shock and died within a short time.


Article Text

To Pay Second Dividend. Within the next fortnight the Monongabela National Bank of Brownsville closed April 6 1931 will pay second dividend of 10 per (ent. It will total about $150,000. affecting 7,000 accounts.


Article Text

WHAT TO DO UNIONTOWN, Dec. or what use can locomotive and flat car be to bank receiver? Harry Cotton, counsel for the receivers of the Monongahala ional bank of Brownsville, got judgment against small railroad line and the tangible assets proved to be the engine and car. "Guess about can do is insome of my friends for ride," Cotton's comment.


Article Text

WHAT TO DO Uniontown. Pa.-Of what use can a locomotive and flat car be to bank receiver? Harry A. Cotton counsel for the receivers of the Monongahela National Bank of Brownsville, got judgment against small railroad line and the tangible assets proved to be the engine and car. "Guess about all can do is invite some of my friends for a ride," was Cotton's comment.


Article Text

What To Do UNIONTOWN, Pa.-Of what use can locomotive and flat car be to bank receiver? Harry A. Cotton, counsel for the receivers of the Monongahela Na tional bank of Brownsville, got judgment against small railroad line and the tangible assets proved to be the engine and car. "Guess about all can do is invite some my friends for a ride," was Cotton's comment.


Article Text

Flashes of Life By the Associated Press New York "Nudist camps are stupid and idiotic," cried the barrel-chested Anthony Sclafani. "Their contention is that we came into the world without anything on. But in those days we didn't know any better.' Sclafani knows better. He wore shorts-and only shorts-for his jaunt past New York's shivering churchgoers in yesterday' subfreezing wind. Minneapolis-A 5-pound pickerel jumped out of a hole in the ice on Coon Lake and bit Alvin Mickelson on the nose. Two companions vouch for the story while Mickelson is exhibiting the fish and a scratched proboscis as proof. Mickelson says he will get his revenge-biting into the fish. Uniontown, Pa. Of what use can locomotive and a flat car be to bank receiver? Harry A. Cotton, counsel for the receivers of the Monongahela National Bank of Brownsville, got judgment against a* small railroad line and the tangible assets proved to be the engine and car. "Guess about all can do is invite some of my friends for a ride," was Cotton's comment. on the rails has ended in voluntary retirement for 79-year-old Daniel Patrick Hurley, oldest conductor on the Cotton Belt lines. Kirby M. Post. vicepresident and general manager, said the road had never been called on to pay a claim as a result of any occurence on a train in Hurley's charge during the 52 years he served as conductor. Baltimore Even though it is fringed with icicles, Mrs. Charles Meyer Schriver thinks her swimming pool is "too good to miss." The daughter-in-law of George M. Shriver, first vicepresident of the Baltimore & Ohio Railroad, takes daily plunge and often runs back to the house with 0 frozen suit and cap.


Article Text

Excess Baggage Bank Receiver Sucs, Gets Engine, Flatcar what use can locomotive and flatcar bank receiver? Harry the the Monongahela tional bank of Brownsville, got judgment against small road line and the tanglible assets proved to be the engine and about do invite some my friends for was Cotton's comment.


Article Text

WHAT TO DO UNIONTOWN, Pa. (AP) Of what use can locomotive and flat car be to bank receiver! for Cotton, counsel Harry A. the Monongahela receivers of National the Bank of Brownsville, rail- got small judgment against assets and the tangible line proved road to be the engine and car. "Guess about all can do is invite some of my friends for ride,' was Cotton's comment.


Article Text

FLASHES of LIFE The 5-pound pickjumped of hole the ice Coon Lake and bit Alvin Mickelson nose. Two companions vouch for the story while Mickelson exhibiting the fish and scratched proboscis proof. Mickelson he will get his reinto the fish. NEW a whir and rattle of gears, Ajeeb, the master of human checker players, has come back to life. The robot, which disappeared after the closing of the Eden Musee in 1915, has been recovered. His owner, Frank Fraine, has given him silk robes and a diet of rust and oil. And, lest the robot get headache, Fraine has spare head, complete from turban to whiskers. what use can locomotive and flat car be to bank receiver? Harry A. Cotton. counsel for the receivers of the Monongahela National Bank Brownsville, got small railroad line and the tangible assets proved to be the engine and "Guess about all can do is insome my friends for a was Cotton's comment. WACO. Tex years on the rails ended in voluntary retirement Daniel Patrick Hurley, oldest conductor on the Cotton Belt Lines Kirby Post, vice president and general the road never had been called on to pay claim as result of any occurrence on train in Hurley's charge during the 52 years he served as conductor.


Article Text

WHAT TO DO Uniontown, Pa.โ€”Of what use can a locomotive and flat car be to a bank receiver? Harry A Cotton, counsel for the receivers of the Monongahela National Bank of Brownsville, got a