7496. Garrett National Bank (Oakland, MD)

View Charter #13776 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
13776
Charter Number
13776
Start Date
March 1, 1933*
Location
Oakland, Maryland

Metadata

Model
gpt-5-mini
Short Digest
18850f2ee6a4427b

Response Measures

None

Description

The Garrett National Bank was closed in the 1933 bank holiday by Treasury officials and placed in receivership. There is no article describing a depositor run; the bank remained closed and in receivership until final liquidation/dividend distributions were made (final dividends paid 1938–1939) and the receivership was wound up in June 1939. Dates have some day unknowns; OCR corrected minor punctuation and names where needed.

Events (7)
1. March 1, 1933* Receivership
Newspaper Excerpt
in receivership since the bank holiday in 1933; receiver in charge since 1933 (J. H. Bane initially).
Source
newspapers
2. March 1, 1933* Suspension
Cause
Government Action
Cause Details
Bank was ordered closed during the 1933 bank holiday by Treasury officials (federal action).
Newspaper Excerpt
the bank was ordered closed by the Treasury officials at Washington
Source
newspapers
3. September 18, 1933 Chartered
Source
historical_nic
4. June 10, 1937 Receivership
Newspaper Excerpt
Mr. J. H. Bane ... has resigned and has accepted a position with the Federal Deposit Insurance Corporation ... Mr. Bane has also been serving as receiver ... and will also give up the receivership of these two banks. ... J. H. Hoffman in charge since June 10, 1937.
Source
newspapers
5. December 19, 1938 Other
Newspaper Excerpt
The Garrett National Bank of Oakland, in receivership since the bank holiday in 1933, began to pay its final dividend of five percent on Monday, December 19.
Source
newspapers
6. April 22, 1939 Other
Newspaper Excerpt
John H. Hoffman, receiver for the old Garrett National Bank, announced ... each depositor had received $107.66 for every $100 he had in the bank when it closed in 1933.
Source
newspapers
7. June 1, 1939 Receivership
Newspaper Excerpt
The receivership of the old Garrett National Bank came to an end yesterday when a majority of shareholders held a meeting and received all the remaining assets from John H. Hoffman, receiver.
Source
newspapers

Newspaper Articles (9)
1. June 10, 1937 The Republican Oakland, MD
Article from The Republican, June 10, 1937

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Article Text

J. H. BANE RESIGNS AS RECEIVER OF BANKS HERE Has Accepted Position With Federal Deposit Insurance Corporation Mr. J. H. Bane, receiver of the Garrett National Bank of Oakland; the First National Bank of Kitzmiller, and the Bayard National Bank of Bayard, W. Va., for the past several years, has resigned and has accepted a position with the Federal Deposit Insurance Corporation, Washington, D. C. Mr. Bane's resignation becomes effective within the next few days. Mr. Bane's headquarters will be in Mahanoy City, Pa., to which place he will move his family from Morgantown, West Va., where they have resided during the past year. The depositors of the Garrett National Bank, Oakland, have received 95 per cent of their claims in dividends and it is contemplated that the remaining five per cent will be distributed in the very near future, Mr. Bane said yesterday. Depositors of the Kitzmiller Bank have received 65 per cent of their claims and an additional dividend is now in course of preparation and will be paid in a very short time. Depositors of the Bayard National Bank have received 58 per cent of their claims and the payment of additional dividends is contemplated. Mr. Bane has also been serving as receiver of the Kingwood National Bank, Kingwood, W. Va., and the First National Bank of Newburg, W. Va., and will also give up the receivership of these two banks. In 1931, Mr. Bane began his work as receiver in Preston county and took over the work in Garrett county in 1933. During his administration of the affairs of these closed institutions Mr. Bane has been particularly careful not to work hardships on those who were willing to pay their obligations but were unable to do SO on account of the stress of circumstances, with the result that he leaves Oakland with the good will and best wishes of those with whom he has come in contact in social and business matters.

2. August 18, 1938 The Republican Oakland, MD
Article from The Republican, August 18, 1938

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Article Text

was advised by said attorney that there was a slight question as to his valid title to said property. Your orator has been advised by his counsel that it would be necessary to have the Court construe the Will of the said Martin Filsinger for the purpose of removing any question as to the validity of his title to said property. The bill prays that the Court may take jurisdiction in the premises and construe the meaning of the Last Will and Testament of the said Martin Filsinger as to his intention of the disposition of his real estate remaining in his name at the time of his death. For general relief, for the writ of subpoena against the resident defendants, Conrad Filsinger, George Filsinger and Stella Filsinger, his wife; Albert Filsinger, Herman Filsinger and Gladys Filsinger, his wife; William Filsinger and Winona Filsinger, his wife; Pearl Condry and Joseph Condry, her husband; Nellie Weisenborne and Joseph Weisenborne, her husband; Ester Filsinger, Elizabeth Filsinger, Carl Filsinger and Catherine Filsinger, his wife; Gilbert Filsinger and Helen Filsinger, his wife; Harry Filsinger, William Linenbogger and Eva Linenbogger, his wife; Arthur Linenbogger and Mary Linenbogger, his wife; Owen Linenbogger, Herman Linenbogger Wilson and Linenbogger Wilson, his wife; Tillie Logsdon, Elwood Brant and Brant, his wife; Pauline Bloom, Gilbert Brant and Brant, his wife; Lily Wise, Pearl Durst and William Durst, her husband; Paul O. FilFilsinger, his wife; singer and Catherine Filsinger, Edward Filsinger and John H. Hoffman, Receiver for The Garrett National Bank of Oakland, Maryland, and the order of publication against the non-resident defendants, Sophie Campbell and Owen Campbell, her husband; Cora Tippen and James Tippen, her husband; Emma Jennings and Fred Jennings, her husband; Adolph Filsinger and Alice Filsinger, his wife; Mary Oremusz and John Oremusz, her husband; Elizabeth Maseheim and Alfred Maseheim, her husband; Pauline Maus and John Maus, her husband; Emma Weisenborne and Elmer Weisenborne, her husband; Irene Shepard and James Shepard, her husband; Emma Green and Emmett Green, her husband; Marie Linenbogger, Adolph Linenbogger, Linenbogger and his wife; Mary Mills, Gilbert Brant, Verona Decker, Clayton Brant and Brant, his wife; Marie Nicklow and Clark Nicklow, her husband. It is therefore, this 1st day of August, 1938, ORDERED, By the Circuit Court of Garrett County, Maryland, in Equity, that the Plaintiffs, by having a copy of this order inserted in some newspaper published in Garret County, Maryland, in each of four successive weeks before the 2nd day of September, 1938, give notice to the said non-resident defendants of the object and substance of this bill, warning them to be and appear in this Court, either in person or by solicitor, on or before the 17th day of September, 1938, to show cause, if any they have, why a decree ought not to be passed as prayed. A. G. ROSS, Clerk. True copy-Test: A. G. ROSS, Clerk. -Advertisement 23-5t.

3. September 1, 1938 The Republican Oakland, MD
Article from The Republican, September 1, 1938

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Article Text

LAW OFFICES OF WILLIAM R. OFFUTT AND NEIL C. FRALEY # ORDER OF PUBLICATION Philip Filsinger, Executor of the Last Will and Testament of Martin Fil- singer, Deceased, et al vs. Sophie Campbell, et al. No. 3479 Equity. In the Circuit Court for Garrett County, Maryland. The object of this bill is to have the Court construe the meaning of the Last Will and Testament of Martin Filsinger, Deceased. The bill states: FIRST: That Martin Filsinger, late of Garrett County, Maryland, de- ceased, died on the 19th day of May, 1919, leaving a Last Will and Testa- ment duly executed to pass real es- tate. SECOND: That on the same day of the execution of the Last Will and Testament by the said Martin Fil- singer, his wife, Catharine Filsinger, executed a Last Will and Testament and the said Catharine Filsinger died on the 1st day of January, 1923. THIRD: Both of said wills above referred to were duly admitted to pro- bate by the Orphans' Court for Gar- rett County, Maryland, and your or- ator, Philip Filsinger, qualified as Ex- ecutor in said Court and filed an ac- counting as such Executor with the said Court. FOURTH: That at the time of the death of the said Martin Filsinger he was seized and possessed of a tract of land containing approximately 76 acres, being the residue of the tract of land acquired by the said Martin Filsinger from Henry G. Davis and Kate A. Davis, his wife, by deed dated October 12, 1901, and recorded in Liber E. Z. T., No. 40, folio 256, one of the Land Records of Garrett County, Maryland. FIFTH: That the said Martin Fil- singer departed this life on the 19th day of May, 1919, testate, leaving sur- viving him as his heirs at law and next of kin Philip Filsinger, a son, who married Mary J. Filsinger; Herman Filsinger, a son, who departed this life intestate, leaving surviving him as his heirs at law and next of kin the fol- lowing named children: Sophie Camp- bell, married to Owen Campbell; Cora Tippen, married to James Tippen; Emma Jennings, married to Fred Jen- nings; Conrad Filsinger, single; George Filsinger, married to Stella Filsinger; Albert Filsinger, single; Herman Filsinger, married to Gladys Filsinger; William Filsinger, married to Winona Filsinger; Pearl Condry, married to Joseph Condry; Nellie Weisenborne, married to Joseph Weis- enborne, and Esther Filsinger, an in- fant under the age of twenty-one years; Adolph Filsinger, a son, who departed this life intestate, leaving surviving him as his heirs at law and next of kin, his widow, Elizabeth Fil- singer, and the following named chil- dren: Carl Filsinger, married to Cath- erine Filsinger; Gilbert Filsinger, married to Helen Filsinger; Harry Filsinger, single; Adolph Filsinger, married to Alice Filsinger; Mary Oremusz, married to John Oremusz; Elizabeth Maseheim, married to Al- fred Maseheim; Pauline Maus, mar- ried to John Maus, and Emma Weis- enborne, married to Elmer Weisen- borne; Ida Linenbogger, a daughter, who departed this life intestate, leav- ing surviving her as her heirs at law and next of kin the following named children: Irene Shepard, married to James Shepard; Emma Green, mar- ried to Emmet Green; Marie Linen- bogger, single; Adolph Linenbogger, married to Linenbogger; Wil- liam Linenbogger, married to Eva Linenbogger; Arthur Linenbogger, married to Mary Linenbogger; Owen Linenbogger, single; Herman Linen- bogger Wilson, married to Lin- enbogger Wilson; Emma Brant, a daughter, who departed this life leav- ing surviving her her husband, Gilbert Brant, and the following named chil- dren: Verona Decker, Pauline Bloom, Elwood Brant, married to Brant; Clayton Brant, married to Brant; Gilbert Brant, married to Brant; Lily Wise; Otto Filsinger, a son, who departed this life leaving surviving him as his heirs at law and next of kin, his widow, Pearl Fil- singer, now married to William Durst, and the following named children: Paul O. Filsinger, married to Filsinger; Catherine Filsinger, sin- gle; Marie Nicklow, married to Clark Nicklow, and Edward Filsinger, sin- gle, Mary Mills, a daughter, and Til- lie Logsdon, a daughter. SIXTH: That your orator, Philip Filsinger, having been advised that under proper construction of the Last Will and Testament of his said father, Martin Filsinger, he acquired title to the real estate above referred to and on February 26, 1927, he and his wife, Mary J. Filsinger, executed a mort- gage in the sum of $4500.00 to the Garrett National Bank of Oakland, Maryland, a corporation. SEVENTH: That the said Garrett National Bank of Oakland, Maryland, a corporation, is now in receivership and the said John H. Hoffman is Re- ceiver for the said corporation. EIGHTH: That it is contended by the said Philip Filsinger that accord- ing to the true construction of the Will of the said Martin Filsinger that it was plainly his intention and desire that all of his estate, both real and personal, should go to him after the payment of certain specific bequests as set out in the said Will, and that it was plainly the intention of Martin Filsinger and Catharine Filsinger, his wife, the father and mother of your orator, Philip Filsinger, that any es- tate owned by them at the time of their death, should go to the said Philip Filsinger, absolutely. NINTH: That your orator, Philip Filsinger, acquired title to the real estate owned by the said Martin Fil- singer at the time of his death, and

4. December 22, 1938 The Republican Oakland, MD
Article from The Republican, December 22, 1938

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Article Text

GARRETT NATIONAL NOW PAYING FINAL DIVIDEND Makes A Total Of 100 Percent Paid on Claims Aggregating $816,696.13 Since 1933 PAYMENTS BEGAN MONDAY The Garrett National Bank of Oakland, in receivership since the bank holiday in 1933, began to pay its final dividend of five pecent on Monday, December 19. This five percent dividend makes a total of 100 percent paid on aggregate claims of $816,696.13. The announcement that the payment of these final amounts on deposits was made by John H. Hoffman, receiver. Mr. Hoffman stated that the trust had for distribution to creditors who have proven their claims dividend checks in the approximate amount of $43,258.95. The assets of the bank have not yet been completely liquidated and a funther dividend representing the interest at the legal rate, computed upon the unpaid balances of each claim from the date of suspension, will be paid when and if the further liquidation of the assets warrant such a distribution, it was stated. Checks for this deferred five percent may be received by calling at the office of the receiver, in the Garrett National Bank Building. In order to expedite delivery all creditors are requested to bring with them the proo of claim issued by the receiver. Due to the confusion during the first week or two when checks are being delivered, checks will be issued only to those presenting the receiver's certificates, Mr. Hoffman stated.

5. March 23, 1939 The Republican Oakland, MD
Article from The Republican, March 23, 1939

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To Pay Interest Dividend It has been learned from reliable sources that within a very short time the Receiver of the Garrett National Bank of Oakland will pay an interest dividend to all of the depositors of that bank. This distribution will make the total amount paid to each depositor of more than 107 per cent on funds in the bank when it was ordered closed by the Treasury offiicials at Washington.

6. April 22, 1939 Evening Star Washington, DC
Article from Evening Star, April 22, 1939

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Oakland (Md.) Bank, Closed in 1933, Pays $107.66 for $100 By the Associated Press. OAKLAND, Md., April 22.John H. Hoffman, receiver for the old Garrett National Bank, announced he had finished liquidating the bank's assetsand each depositor had received $107.66 for every $100 he had in the bank when it closed in 1933. Mr. Hoffman said this was one of the few cases he had heard of in which depositors received more than their accounts called for. A five-and-ahalf-year liquidation of assets produced more cash than the books showed available.

7. June 1, 1939 The Republican Oakland, MD
Article from The Republican, June 1, 1939

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RECEIVERSHIP OF THE OLD GARRETT BANK IS ENDED Shareholders Receive Remaining Assets At Meeting Held Yesterday The receivership of the old Garrett National Bank came to an end yesterday when a majority of shareholders held a meeting and received all the remaining assets from John H. Hoffman, receiver, and appointed A. T. Matthews as shareholders' agent, to protect their interests and eventually get back a portion of the assessment, levied some time ago. There were 750 shares represented in a total of 1000. The bank had previously paid 107.66 percent to all depositors, the last payment being made on April 15. The bank had been in the process of liquidation since March, 1933, with J. H. Hoffman in charge since June 10, 1937. Over $875,000 has been paid to depositors and over one million dollars collected. An advisory committee consisting of F. E. Rathbun, Henry M. Speicher and D. Edward Offutt was appointed to assist Mr. Matthews as agent. Mr. Hoffman said that there were turned over to the shareholders yesterday $24,000, face value, in notes, $9,800 in stock assessments not yet collected, and about $14,000 in cash. Out of these amounts the stockholders will be reimbursed to some extent for the $100,000 assessment made upon them to repay depositors in full.

8. June 8, 1939 The Republican Oakland, MD
Article from The Republican, June 8, 1939

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Depositors Fail To Claim $10,000 In Dividends Depositors of the old Garrett National Bank in Oakland are failing to claim about $10,000 in dividend checks, according to John H. Hoffman, receiver. Mr. Hoffman announced that within a few days all unclaimed dividend checks will be returned to Washington and that unless depositors to whom they are due call at once for their checks they will have to correspond with the Comptroller's office in Washington to obtain them. He urged that all who had not received the last two dividends should make an effort to call at the bank in Oakland at once.

9. November 23, 1939 The Republican Oakland, MD
Article from The Republican, November 23, 1939

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# MARRIED WILLIAMS-SMITH-Miss Fan- nabelle Smith, daughter of Mr. and Mrs. Fulcher P. Smith, of Cumberland, became the bride of Harry Leighton Williams, a son of Mrs. Elizabeth J. Williams, of Lexington and Rockbridge Baths, Va., at a ceremony performed last Thursday evening, November 16, at Smith Haven, the summer home of the bride's parents at Deep Creek Lake. Members of the immediate families attended. The ceremony was performed by the Rev. A. B. Leamer, D. D., pastor of St. Mark's Lutheran church, Oakland. The bride, who was given in marriage by her father, was attired in an afternoon gown of pastel blue and carried yellow roses. Following a wedding dinner with members of the two families present, Mr. and Mrs. Williams left on a honeymoon trip through the Southern States. Their future residence is as yet undecided. Mrs. Williams is a graduate of Allegany high school, Cumberland; also the Birmingham School for Girls at Tyrone, Pa., and until recently was a member of the junior class at Wells College, Aurora, N. Y. Mr. Williams was graduated with the class of 1935 from the University of Virginia. He later attended Dinsmore Business College, Lexignton, Va. He is a member of Sigma Phi Epsilon fraternity. For the past three years he has been acting as an assistant national bank receiver for the tri-state area and until recently assisted J. H. Hoffman in closing up the affairs of the old Garrett National Bank in Oakland.