First National Bank (Franklin, OH)

Episode Information

Episode Type
Suspension β†’ Reopening
Start Date
August 23, 1895
Location
Franklin, Ohio (39.555, -84.296)
Bank Type
national
Charter Number
738

Metadata

Receivership Details

Depositor recovery rate
80.0%
Date receivership started
1897-02-17
Date receivership terminated
1906-10-01
OCC cause of failure
Losses
Share of assets assessed as good
18.7%
Share of assets assessed as doubtful
77.3%
Share of assets assessed as worthless
3.9%

Events (4)

1. January 23, 1865 Chartered
Source
historical_nic
2. August 23, 1895 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Falling off in deposits and holding of discount paper not maturing in time to meet obligations (liquidity/asset-maturity problem).
Newspaper Excerpt
The First National bank of Franklin, Ohio, has suspended. Examiner Betts has been ordered to take charge.
Source
newspapers
3. October 12, 1895 Reopening
Newspaper Excerpt
The First National Bank, of Franklin, O., which suspended payment August 23, 1895 ... has to-day been permitted to reopen its doors for business.
Source
newspapers
4. February 17, 1897 Receivership
Source
historical_nic

Newspaper Articles (19)

Article from Santa Fe Daily New Mexican, August 23, 1895

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Bank Suspended in Ohio

Cincinnati, Aug. 23.-The First National bank of Franklin, Ohio, has suspended. Examiner Betts has been ordered to take charge. The cause of the suspension is stated to be a falling off in deposits and the holding of discount paper that would not mature in time to meet obligations. The president is C. M. Anderson. It is the general impression that depositors will be paid in full, as the assets are largely in excess of the liabilities. The deposits are said to be only $100,000.


Article from The Providence News, August 23, 1895

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A Bank Suspended.

CINCINNATI, Aug. 23.β€”The First National Bank of Franklin, O., has suspended.


Article from San Antonio Daily Light, August 23, 1895

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Ohio Bank Failure.

CINCINNATI, O., Aug. 23.--The First National bank of Franklin, Ohio, has suspended.


Article from The Evening Times, August 23, 1895

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OHIO BANK FAILS

First National, of Franklin, Closes Its Doors. Comptroller Eckels was to-day informed that the First National Bank of Franklin, Warren county, Ohio. had closed its doors. He immediately telegraphed Bank Examiner Betts to assume charge of the failed bank. At the date of the last report, July 11, the bank had $224,000 in loans and discounts and owed individual depositors $169,000. No cause is assigned for the failure


Article from The Record-Union, August 24, 1895

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Bank Failure

WASHINGTON, Aug. 23.-Comptroller Eckels was informed to-day that the First National Bank of Franklin, Warren County, Ohio, had closed its doors. He telegraphed to Bank Examiner Betts to assume charge of the failed bank. At the date of the last report, July 11th, the bank had $224,000 in loans and discounts and owed individual depositors $169,000. No cause is assigned for the failure.


Article from The San Francisco Call, August 24, 1895

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Article Text

First National Bank of Franklin, Warren County, Ohio, had closed its doors. He telegraphed Bank Examiner Betts to assume charge of the failed bank. At the date of the last report, July 11, the bank had $224,000 in loans and discounts, and owed individual depositors $169,000. No cause is assigned for the failure.


Article from Evening Star, August 24, 1895

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An Ohio Bank Suspends

The First National Bank of Franklin, Ohio, has suspended. Controller Eckels has received a telegram from the cashier of the bank, announcing that the bank closed its doors yesterday morning, and asking him to place some one in charge of its affairs. Bank Examiner Madison Betts was immediately instructed to proceed to Franklin and assume charge. No statement of assets and liabilities has yet reached the Treasury Department.


Article from Rock Island Argus, August 24, 1895

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Bank Surprises a Community

FRANKLIN, O., Aug. 24-The community was astonished to find that the doors of the First National bank did not open. It afterward developed that Comptroller Eckels had been advised of the suspension. It is the general impression that depositors will be paid in full, as the assets are largely in excess of liabilities.


Article from Morris Tribune, August 28, 1895

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National Bank in Ohio Fails

WASHINGTON, Aug. 24.-Comptroller Eckels was informed Friday that the First national bank of Franklin, Warren county, O., had closed its doors. He telegraphed to Bank Examiner Betts to assume charge of the failed bank. At the date of the last report, July 11, the bank had $224,000 in loans and discounts, and owed individual depositors $169,000. No cause is assigned for the failure.


Article from Courier Democrat, August 29, 1895

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Bank Failure

Cincinnati, Aug. 25.-The First National Bank of Franklin, Ohio, has suspended.


Article from Mineral Point Tribune, August 29, 1895

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The First National bank of Franklin, Ohio, has suspended.


Article from Iowa County Democrat, August 29, 1895

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Bank Surprises a Community

FRANKLIN, O., Aug. 24.-The community was astonished to find that the doors of the First National bank did not open. It afterward developed that Comptroller Eckels had been advised of the suspension. It is the general impression that depositors will be paid in full, as the assets are largely in excess of liabilities.


Article from The True Northerner, August 30, 1895

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Bank surprises n Community

FRANKLIN, O., Aug. 24.-The community was astonished to find that the doors of the First National bank did not open. It afterward developed that Comptroller Eckels had been advised of the suspension. It is the general impression that depositors will be paid in full, as the assets are largely in excess of liabilities.


Article from The Times, August 30, 1895

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Bank Surprises a Community

FRANKLIN, O., Aug. 24.-The community was astonished to find that the doors of the First National bank did not open. It afterward developed that Comptroller Eckels had been advised of the suspension. It is the general impression that depositors will be paid in full, as the assets are largely in excess of liabilities.


Article from Fort Worth Gazette, September 5, 1895

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Several bank failures are reported in the West, among them the First National, Franklin, Ohio, capital $100,000; Commerclal bank, Milwaukee, capital 834,600, voluntary Rquidation: Bowling Green bank, Bowling Green, Mo., capital $25,000; Bank of Dawn, Mo., Habilities $36,000; Dan. Head & Co., private bankers, Kenosha, Wis., capital $100,000. The Farmers and Mechanics' Insurance company, Alexandria. Va., has been placed in the hands of a receiver. Spelman Bros., fancy Goods, New York, have assigned. liabilities $250,000, and receiver applied for Hughes Steam Pump company, Cleveland, Ohio.


Article from The Evening Times, October 12, 1895

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Bank Allowed to Reopen

The First National Bank, of Franklin, O., which suspended payment August 23, 1895, having complied with all of the conditions imposed by the comptroller of the currency. precedent to its resumption, and its capital stock being now unimpaired, has to-day been permitted to reopen its doors for business.


Article from Twice-A-Week Plain Dealer, October 15, 1895

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Bank Resumes Business

WASHINGTON, Oct. 12.-The First naif tional bank of Franklin, O., which suspended payme nt August 23, 1895, having complied " ith all of the conditions imposed by the com otroller of the currency, precedent to its resumption, and its capital stock being now unimpăired, Saturday was permitted to reopen its doors for business.


Article from River Falls Journal, October 17, 1895

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Bank Resumes Business

WASHINGTON, Oct. 14.-The First national bank of Franklin, O., which suspended payment August 23, 1895, having complied with all of the conditions imposed by the comptroller of the currency, precedent to its resumption, and its capital stock being now unimpaired, Saturday was permitted to reopen its doors for business.


Article from Delaware Gazette and State Journal, October 17, 1895

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IN GENERAL John Monosmith shot and gilled Miss Gertrude Lally, 18 years old, in Eaton, O., Saturday night. He was jealous. The Temple Opera House in Duluth, Minn., was destroyed by fire early on Sunday morning. The loss is placed at 890,000. In a fight with pistols in New Orleans on Saturday, Tony Lavia was killed and Dennis Corcoran severely wounded. J. J. Mosely, a liquor constable, was shot and killed at Greenwood, S. C., early Sunday morning. He had just seized come liquor that had arrived on a train. Crzscenzo Morello was arrested in Boston Sunday by a detective from Scranton, Pa., on a warrant charging him with the murder of Emanuel Lore in Lackawanna, June 17th, 1894. W. McInnis of the Canadian geological survey, has returned to Ottawa from the Rainy river district. says the gold belt extends over 400 miles, and that hundreds of claims have been taken up. Frederick Valkman, James Heuster, William Reynolds and Harry Steiner were drowned on Sunday. A boat in which they were crossing the eastern branch of the Patapsco river at Balti. more was capsized. The Massachusetts Reform Club gave a banquet in Boston on Saturday night, at which the principal address was made by Secretary Carlisle. He laid especial stress upon the necessity of retiring the demand notes. William Mack and Henry Convery, attendants at the State Hospital at Morris Plains, N. J., were arrested on Saturday for beating to death Nicholas Dolfus, an insane patient at the hospital. Both men were drunk. The jury in the case of Frank W. Harris, a professional base-ball player, tried for the murder of Charles Bengle, whom he shot last May, returned a verdict, at Freeport, Ill., Saturday, of guilty, and fixed the death penalty. The First National Bank of Franklin, O., which suspended payment August 23d, 1895, has complied with all of the conditions imposed by the comptroller of the currency precedent to its resumption, and was permitted to reopen its doors for business on Saturday. Franklin L. Pope, aged 65, of Great Barrington, Mass., was instantly killed in the cellar of his home at that place Sunday night by receiving an electrial shock of 3,000 volts. He was president of the local electric company, and a nowerful convertor had been placed in his cellar. Passengers who arrived from Havana Saturday at Key West, Fla., report that Chief of Police Trujillo has been arrested on the charge of defrauding the government. A conspiracy to loot the government is said to have been discovered, and $1,000,000 is said to have been stolen. Judge Josiah Coombs made a statement at a Republican meeting in Knott county, Ky., Fridav night, which displeased the audience, and a general fight with knives and pistols took place. When order was restored the judge and two Democrats were dead e and a dozen others were injured. Monday of next week will be Negro Day at the Atlanta Exposition. Dr. J. W. E. Bowen, professor of his-' torical theology at the Gammon School of Theology, in Atlanta, will be the orator of the day. It is said that his speech will be fully as memorable as the speech made by Prof. T. Booker Washington on the opening day. It is said that the negro race accepts and indorses every word spoken by Prof. Washington on that day.