8518. First National Bank (Frostburg, MD)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
4149
Charter Number
4149
Start Date
November 16, 1889
Location
Frostburg, Maryland (39.658, -78.928)

Metadata

Model
gpt-5-mini
Short Digest
62023c52

Response Measures

None

Receivership Details

Depositor recovery rate
41.5%
Date receivership started
1934-06-04
Date receivership terminated
1941-09-13
Share of assets assessed as good
45.9%
Share of assets assessed as doubtful
41.9%
Share of assets assessed as worthless
12.1%

Description

No articles describe a run or a suspension explicitly. The 1889 article reports the bank opening. 1942 newspaper notices refer to property sales by order of Thomas B. Finan, Receiver for First National Bank of Frostburg, indicating the bank had been placed in receivership/closed by 1942. No reopening is mentioned in these items.

Events (4)

1. November 4, 1889 Chartered
Source
historical_nic
2. November 16, 1889 Other
Newspaper Excerpt
Starts off Well The First National Bank began business Tuesday morning at 9 o'clock. ... Public confidence in the institution is manifest from the beginning, over $14,000 being deposited the first day.
Source
newspapers
3. June 4, 1934 Receivership
Source
historical_nic
4. September 3, 1942 Receivership
Newspaper Excerpt
At the suit of R. Annan, Trustee, use of Thomas B. Finan, Receiver for First National Bank of Frostburg, vs. Samuel Bernard Brydon ... I have seized, levied upon and taken under execution ... and hereby give notice that on ...
Source
newspapers

Newspaper Articles (3)

Article from Frostburg Mining Journal, November 16, 1889

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Article Text

The rer Light. T. J. and D. D. Price. engineers, placed the engine in position which runs the electric light mechanism. The engine is somenew that but are visible. thing few It of is in its this working section parts in called the 'Westinghouse junior automatic engine," guaranteed 50-horse power, running 350 revolutions a minute. but capable of 400. It is closely and compactly built, circumscribing a marvel of motive power within a floor space of 42x30 inches. The dynamo is a Westinghouse machine also- a No. 12 United States carrent a 110 and a of 400 sixteendirect lighting capacity with voltage of candle powers, run here, however, at 350. The dynamo makes 1,100 revolutions per minute, The direct current is notably distinguished from the alternating current by its perfect harmlessness. The alternating current is the one which has needlessly alarmed the public mind by its fatal injuries to human life, while no accidents whatever are reported from places where the direct current is employed. Our young and talented townsman, Fred. in Schofield, and has placed done the all dynamo the position lining for the company. He has worked with the apparent experience of a veteran electrician, and results show that he is a complete master of the business. How is that for a'youth of 20, long since an adept in steam and gas engineery also Y The company has also an American are dynamo, capable of running 25 Brush (or are) lights of great power. The machine is a size larger than the one which lights the lofty torch in the hand of the Statue of Liberty in New York harbor. In time, therefore, we may expect are lights to blaze all along our streets, Ex-Mayor Wittig has secured an incandescent burner of 50-candle power for illuminating the front of his store during the holiday trade. It will soon shine, Starts off Well The First National Bank began business Tuesday morning at 9 o'clock. The huge safe, weighing nearly 9.000 the a team and depot lbs., by had been of eight hauled horses from placed 111 position. and other indispensable equipments introduced, making the room look at once like a banking establishment. The safe is feet high, + feet, 3 inclies wide and 3 feet, inch deep, and is known as "Hall's standard-fire and double-burglar proof," one burglar-proof guaranteed to resist for 24 hours the drill of any implement that a burglar can carry on his person. This means that it burglar must first penetrate the fire of safe: must then envelope tackle the outside the burglar-proof be case, and lastly the inside case before be reaches what be is after. He cappot do it in the time the bank is closed, and it would be almost impossible for him to get in if he had all the time he safe with a Sargent wanted. time-lock, The 48-hour is equipped movement, a very ingenious contrivance by which the bank officers are themselves shut put of the money closet until the !wheels of time roil around" to the appointed hour. Then a bolt falls, 1-presto, change! there's the money The cashier, Mr. Krise. informs the JOURNAL that there is more furniture to be placed in the room. and finally it will be as neat. comfortable and becoming the business as is necessary. are 9 a. m. to p. Banking During hours pay from week of III. every be to m. and for who Saturday month, open from however, evenings 8 9 P. the depositors doors Friday will cannot reach the bank earlier. Public confidence in the institution is manifest from the beginning, over $14,000 being deposited the first day. The amounts put in since will raise the sum to between $20,000 and $30,000. The institution affords an excellent opportunity to working people who desire to save a goodly portion of their earnings. A small deposit made with monthly regularity soon amounts to a comfortable sum-a good thing to have in a place where it is always available Try it. It should have been mentioned ere this that Mr. Krise is assisted by John L. Porter, who has been elected bookkeeper of the bank. It is no newthing


Article from The Republican, September 3, 1942

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Article Text

SHERIFF'S SALE OF VALUABLE REAL ESTATE In Bloomington, Garrett County, Maryland. Under and by virtue of a writ of fieri facias issued out of the Circuit Court for Garrett County, Maryland, at the suit of R. Annan, Trustee, use of Thomas B. Finan, Receiver for First National Bank of Frostburg, VS. Samuel Bernard Brydon and Henrietta Seymour Brydon, his wife, the same being No. 2 Judicials, September Term, 1942, in said Court, I have seized, levied upon and taken under execution by actual entry upon the premises, all of those parcels of land situate, lying and being in the town of Bloomington, Garrett County, Maryland, as hereafter described, and hereby give notice that on


Article from The Republican, September 10, 1942

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Article Text

# SHERIFF'S SALE -OF- # VALUABLE REAL ESTATE In Bloomington, Garrett County, Maryland. Under and by virtue of a writ of fieri facias issued out of the Circuit Court for Garrett County, Maryland, at the suit of R. Annan, Trustee, use of Thomas B. Finan, Receiver for First National Bank of Frostburg, vs. Samuel Bernard Brydon and Henri- etta Seymour Brydon, his wife, the same being No. 2 Judicials, September Term, 1942, in said Court, I have seized, levied upon and taken under execution by actual entry upon the premises, all of those parcels of land situate, lying and being in the town of Bloomington, Garrett County, Maryland, as hereafter described, and hereby give notice that on # SATURDAY, SEPT. 12, 1942, at the hour of 2 o'clock p. m., in front of the Post Office in the town of Bloomington, Maryland, I will offer for sale and sell the same at public auction in order to satisfy and pay said judgment and costs, said land being described as follows, to- wit: Lots Nos. 41, 42 and 43 on the plat of the town of Llangollen (now Bloom- ington) as recorded in Liber 11, folios 482-483, one of the records in the of- fice of the Clerk of the Circuit Court for Allegany County, Maryland, wherein the same are described as fol- lows: Lot No. 41. Beginning at a stake marked 41 standing South 78 degrees East 60 feet from end of third line of Lot No. 1 and running North 12 de- grees East 66 feet, South 78 degrees East 190 feet to line of Railroad, South 10 degrees East 72 feet, then by a straight line to beginning. Lot No. 42. Beginning at a stake marked 42 standing at the end of first line of Lot No. 41 and running North 12 degrees East 66 feet, South 78 de- grees East 163 feet to line of Rail- road, then South 10 degrees East 72 feet, then by a straight line to begin- ning. Lot No. 43. Beginning at a stake marked 43 standing at the end of first line of Lot No. 42 and running North 12 degrees East 66 feet, South 78 de- grees East 140 feet to line of Rail- road, then South 10 degrees East 72 feet, then by a straight line to the beginning. Said lots are the same which were conveyed unto the said Samuel Ber- nard Byrdon by deed from John W. Howell and wife dated February 2, 1918, and recorded in Liber E. Z. T No. 72. folio 564, one of the Land Records of Garrett County, Maryland, Lot No. 41 is improved by two small frame dwellings; the others are at present used for gardening pur- poses. TERMS OF SALE-Cash on day of sale. WALTER HAENFTLING, Sheriff of Garrett County. For further particulars apply to Jones & Jones, attorneys, Oakland. Maryland.