Washington County National Bank

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 1551
Charter Number: 1551
Start Date: March 1, 1933*
Location: Williamsport, Maryland (39.601, -77.821)

Metadata

Model: gpt-5-mini
Short Digest: 903d92ab

Response Measures

None

Description

Bank was under conservatorship by the U.S. Comptroller following the March 1933 national banking holiday and curtailed operations; assets and control returned and bank restored to full operations, reopening July 22, 1933. No contemporaneous depositor run is described in the article.

Events (3)

1. September 6, 1865 Chartered

Source: historical_nic

2. March 1, 1933* Suspension

Cause: Government Action
Cause Details: Put under conservatorship by the U.S. Comptroller following the March 1933 national banking holiday and shrinkage in security values.
Newspaper Excerpt: curtail activities at the time of the National banking holiday in March because of shrinkage in values of securities...conservatorship by the U. S. Comptroller.
Source: newspapers

3. July 22, 1933 Reopening

Newspaper Excerpt: Washington Co. Nat'l Restored To Full Operations; To Open Monday...will open on 100 per cent basis Monday, July ...the affairs of the bank were returned to the Board of Directors today and the institution, starting Monday, will resume operations under plans recently approved by the Secretary of the U. S. Treasury.
Source: newspapers

Newspaper Articles (1)

1. July 22, 1933 The Daily Mail Hagerstown, MD

Article from The Daily Mail, July 22, 1933

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Article Text

Distance Record In Hop WILLIAMSPORT To Bagdad BELFAST, Northern Ireland, BANK TO OPEN July 22, plane in which Jim and Amy Mollison took off for the United States today passed be tween Fastnet Rock and the Cork PER CENT mainland at day Washington Co. Nat'l Restored To Full Operations; To Open Monday The Washington County Nation- to Baghdad after crossing the al Bank, of Williamsport, one of lantic twice. the oldest banking institutions in In contrast to stormy weather the county, will open on 100 per that caused theeir plane, the two basis Monday, July it was motored Seafarer, crash on the announced today. Announcement first takeoff attempt June the made at the same time of the weather was acceptable as the plane took the air termination of the conservatorship Greenwich time by order of the U. S. Comptroller They planned to reach New York of Currency. Sunday night and after short rest The assets and control of the to cross the ocean once more, affairs of the bank were returned ing a distance non-stop record. to the Board of Directors today and Capt. James Mollison, who the institution, starting Monday made the first solo will resume operations under plans flight over the Atlantic last Aurecently approved by the Secretary gust. watched the final arrangeof the U. S. Treasury. ments being made and saw to With additional capital and ad that everything was shipshape. justed assets the bank is reported "This may be my last spectacube in an exceptionally strong polar flight," he declared when every sition. Its assets are unusually 11thing was ready. hope quid, officials say, and the fine con. too great venture." dition of the institution has prompt His wife, Amy Johnson Mollison, ed much favorable comment who last November set London The Washington County Nation Capetown record. looked Little al, like many other strong banks strained as she jumped into the in the country. was compelled to cockpit beside her husband at the curtail activities at the time of the dual controls. She wore white or. National banking holiday in March eralls. because of shrinkage in values of Her Greatest Adventure. securities. This shrinkage has been "Now for the greatest adventure more than counter-balanced by ad- of my life," she exclaimed. ditional capital, etc. There was very. little wind as The Washington County National Mollison, who was at the guiding organized in 1832 and is the control, opened the throttle and second oldest banking institution gan to run along the beach for the in the county It became mem There was burst of cheering ber of the National Banking Sys. from the crowd the Seafarer took tem in 1868 and joined the Federal off. After reaching height of 200 Reserve System when it was organ. feet, Jim swung its nose towards ized in 1914. the open Atlantic and the Mollisons State Senator William D. Byron started off toward the world. will continue as president and Ben. The reasonably favorable weather jamin C. Lefever as chairman of which the Australian airman and the Board of Directors of the bank. (Continued on Page 10) D. W. Newcomer. who has been the conservator. will resume his duties as cashier. Joseph D. Mish FIVE PERSONS will continue as the bank's attorThe four officials named. togeth. ARE DROWNED with the other officers and members of the Board of Directors, with Automobile Plunges Off the cooperation of the stockholders and depositors are to be congratul- Open Drawbridge In ated by the community and the New Jersey. county as whole for their success. ful efforts in reopening the institu- SEASIDE HEIGHTS. N. J., July tion at time when good banking persons were believed facilities are SO necessary in the killed early today when their autodrive to restore prosperity. mobile plunged off an open draw-