Perry County Bank (New Bloomfield, PA)

Episode Information

Episode UID
6634480291132
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
663448029 hash
Start Date
April 1, 1894*
Location
New Bloomfield, Pennsylvania (40.420, -77.186)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
519bc4c74e3264ba

Response Measures

None

Description

Articles state no run occurred and the bank was insolvent with assignees handling assets.

Events (3)
1. April 1, 1894* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Count of vault found only $295 cash; liabilities likely >$100,000; bank insolvent or funds embezzled.
Newspaper Excerpt
The creditors of the Perry County Bank of New Bloomfield, Pa. were excited ... only $295 in cash was found ... liabilities may exceed $100,000.
Source
newspapers
2. May 15, 1894 Other
Newspaper Excerpt
Fred C. Fink ... finds the bank has been insolvent for at least 18 years ... shortage of $56,000 ... amount in the hands of the assignees will probably all be used in the payment of preferences and expenses.
Source
newspapers
3. May 15, 1894 Receivership
Newspaper Excerpt
the amount in the hands of the assignees will probably all be used ... leaving nothing toward the $110,000 due depositors and other creditors.
Source
newspapers

Newspaper Articles (2)
1. April 5, 1894 The Middleburgh Post Middleburg, PA
Article from The Middleburgh Post, April 5, 1894

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Article Text

Perry County Bank Failure. The creditors of the Perry County Bank of New Bloomfield, Pa. were excited to dangerous degree when the result of the count of the funds in the vault was made known Saturday only $295 in cash was found in the treasury, while the other securities were less than $8000. The liabilities may exceed $100,000. In the assignment Sponsler has preferred creditors to the amount of $26,515; Junkin to the amount of $4604, and the company assignment prefers $4723, making a total of $35,842 of preferred claims. It is hardly probable that the entire property will be enough to pay these in full. No run had been made on the bank and either the institution has been insolvent for years or the funds have been recently embezzled. There is talk of arrests being made.

2. May 16, 1894 The Weekly Register Point Pleasant, WV
Article from The Weekly Register, May 16, 1894

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Article Text

DEFUNCT FOR 18 YEARS. A Pretty State of Affairs in a County Bank. NEW BLOOMFIELD, Pa.. May 15.Fred C. Fink, the expert who has been making an examination of the books of the defunct Perry County bank, has made his report. He finds the bank has been insolvent for at least 18 years and since that time has run further behind nearly every year. He placès losses at $95,000 and finds a shortage of $56,000 for which no explanation can be made. The amount in the hands of the assignees will probably all be used in the payment of preferences and expenses, leaving nothing toward the $110,000 due depositors and other creditors.