Second National Bank (Parkersburg, WV)

Episode Information

Episode UID
86401166
Episode Type
Run Only
Bank Type
national
Bank ID
8640 national
Charter Number
864
Start Date
February 1, 1897
Location
Parkersburg, West Virginia (39.267, -81.562)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
58b186e253e2b95f

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Public signal of financial health, Capital injected

Events (2)

1. March 7, 1865 Chartered
Source
historical_nic
2. February 1, 1897 Run
Cause
Bank Specific Adverse Info
Cause Details
Defalcation discovered in accounts of teller Lee McFarland (~$42โ€“43,000) lost in grain speculation, concealed by falsifying books.
Measures
Bank kept open late (7pmโ€“midnight) inviting depositors; merchants and other banks made large deposits/offered aid; bondsmen/relatives to make good shortage.
Newspaper Excerpt
Some hint of this trouble started a run on the bank. The officers, knowing their ability to meet demands, kept the bank open from 7 o'clock until midnight.
Source
newspapers

Newspaper Articles (11)

Article from The Topeka State Journal, February 1, 1897

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Article Text

A CLERK STEALS $73,000. He Kept His Books Locked Up but the Directors Got Them. Cincinnati, Feb. 1.-A Times-Star special from Parkersburg says that a defalcation of $73,000 was discovered in the Second National bank of that city. It was found in the accounts of Lee McFarland, an old and trusted clerk, in charge of individual deposits. It has been observed that he kept his books locked up and finally during his absence the directors got the books and made an examination with the above results. Mr. McFarland's bondsmen and relatives will make the amount good. Some hint of this trouble started a run on the bank. The officers knowing their ability to meet demands kept the bank open from 7 o'clock until midnight inviting all depositors to come in if they wished. McFarland had speculated in grain and stocks.


Article from Evening Star, February 1, 1897

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Article Text

TRUSTED CLERK'S SHORTAGE. A Defalcation in the Second National Bank at Parkersburg, W. Va. CINCINNATI, Ohio, February 1.-A Times-Star special from Parkersburg says that a defalcation of $43,000 was discovered in the Second National Bank of that city. It was found in the accounts of Lee McFarland, an old and trusted clerk, in charge of individual deposits. It had been observed that he kept his books locked up. and finally, during his absence, the directors got the books and made an examination, with the above result. McFarland's bendsmen and relatives will make the amount good. Some hint of this trouble started a run on the bank. The officers, krowing their ability to meet demands, kept the bank open from 7 o'clock until midnight, inviting all depositors to come in if they wished. McFarland had speculated is grain and stocks.


Article from Daily Camera, February 1, 1897

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Article Text

GREAT DEFALCATION, Big Shortages Discovered in the Accounts of an Old and Trusted Clerk. Parkerburg. W. Va., Feb. I-A defalcation of $43,000 was discovered today in the accounts of Lee McFarland, a trusted clerk of the Second National bank. A slight run on the bank ensued when the news was made public.


Article from Deseret Evening News, February 1, 1897

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Article Text

HEAVY DEFALCATION. An Old and Trusty Bank Clerk Speculates in Grain and Stocks. CINCINNATI, Feb. 1.-A TimesStar special from Parkersburg says a defalcation of $42,000 has been discovered in the Second national bank of that city in the accounts of Lee McFarland, an old and trusted clerk in charge of individual deposits. Some hint of trouble started a run on Saturday. The officers kept the bank open from 7 o'clock until midnight. McFarland had speculated in grain and stocks.


Article from Deseret Evening News, February 1, 1897

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Article Text

HEAVY DEFALCATION. Au Old and Trusty Bank Clerk Speeulates in Grain and Stocks. CINCINNATI, Feb. 1.-A TimerStar special from Parkersburg says a defalcation of $42,000 has been diecovered in the Second national bank of that city in the accounts of Lee MeFarland, an old and trusted clerk in charge of individual deposits. Some hint of trouble started a run on Saturday. The officers kept the bank open from 7 o'elock until midnight. Mc. Farland had speculated in grain and stocks.


Article from The Wheeling Daily Intelligencer, February 2, 1897

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Article Text

M'FARLAND'S DEFALCATION Causes n Run on the Second National Bank at Parkersburg. PARKERSBURG, W. Va.. Feb. 1.The excitement on Saturday night caused by rumors of insolvency of the Second National Bank, was increased this morning by the announcement that Teller Lee B. McFarland, nephew of Robert McFarland, of Pittsburgh, had confessed to a defalcation of $43,000. lost in grain speculation during the past six years, which he had concealed by falsifying the books. A run on the bank, which began on Saturday continued to-day. but was somewhat checked this evening by merchants and other wealthy citizens making large deposits and by other banks offering aid to the crippled bank with any amount necessary to tide them over. It is thought that confidence will be restored to-morrow. Mr. McFarland turned over his entire estate to the bank. His Pittsburgh relatives and bondsmen added enough to make the defalcation good.


Article from Marietta Daily Leader, February 2, 1897

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Article Text

TUESDAY, FEB. 2, 1897 THAT vague rumors are more destructive of public confidence than the publicity of facts, howeversensational, is evidenced by the McFarland defalcations at Parkersburg. Had the entire story been given to the Parkersburg papers on Saturday the Second National Bank would not haye been in imminent danger of going to the wall by a run on its deposits. It is uncertainty that saps courage.


Article from The Saint Paul Globe, February 2, 1897

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Article Text

Heavy Defalcation. CINCINNATI, O., Feb. 1.-A Times-Star special from Parkersburg says that a defalcation of $43,000 was discovered in the Second National bank of that city. It was found in the accounts of Lee McFarland, an old and trusted clerk, in charge of individual deposits. It had been observed that he kept his books locked up, and, finally, during his absence, the directors got the books and made an examination, with the above results. McFarland's bondsmen and relatives will make the amount good. Some hint of this trouble caused a run on the bank.


Article from Watertown Republican, February 3, 1897

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Article Text

BANK CLERK'S DOWNFALL. Investigation Shows a Trusted Employe to be Short at Least $43,000. Cincinnati, O., Feb. 1.-A Times-Star's special from Parkersburg, W. Va., says that a defalcation of $43,000 was discovered in the Second National bank of that city. It was found in the account of Lee McFarland, an old and trusted clerk, in charge of the individual deposits. It had been observed that he kept his books locked up and finally during his absence the directors got the books and made an examination with the above result. McFarland's bondsmen and relatives will make the amount good. Some hints of this trouble started a run on the bank. The officers, knowing their ability to meet demands, kept the bank open from 7 o'clock until midnight. inviting all depositors to come in if they wished. McFarland had speculated in grain and stocks.


Article from The Dalles Times-Mountaineer, February 6, 1897

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Article Text

A Trusted Clerk a Defaulter. CINCINNATTI, Feb. 1.-A TimesStar special from Parkersburg says a defalcation of $43,000 has been discovered in the Second national bank of that city, in the accounts of Lee McFarland, an old and trusted clerk, in charge of individual deposits. Some hint of the trouble started a run on Saturday. The officers kept the bank open from 7 o'clock until midnight. McFarland had speculated in grain and stocks.


Article from The Pioche Weekly Record, February 18, 1897

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Article Text

TELEGRAPHIC NEWS. Condensed Telegraphic Reports of Late Events. BRIEF SPARKS FROM THE WIRES. Budget of News For Easy Digestion-All Parts of the Country RepresentedInteresting Items. Governor Sadler of Nevada has signed the bill legalizing prize fig its. W. G. Harrington & Co., jewelers, have assigned at Columbus, Assets, $25,000, liabilities, $17,000. The people of Alabama are so much opposed to the Australian ballot system that it will probably be abandoned. e Ira D. Sankey, the revivalist, is coming west on account of his wife's health and will be in San Francisco in April. The abolition of the forty days' quarantine bill wll probably result in a large cattle trade between the United 0 States and Canada. The directors of the Chicago Gas Company have declared a regular n quarterly dividend of 1ยฝ per cent payable February 20th. r r The Homeopathic Society of Kings county, N. Y., asserts that the girls of e Brooklyn are being injured by the IS amount of study enforced at the is schools. y The Indian school that is maintained E 10 by the Government at Carlisle, Pa., has been quarantined on account of the 15 prevalence of measles among the boys and girls. m Colonel M. J. Foster of Louisiana is st at Colon, Colombia, making inquiries in connection with the quarantine at New Orleans against shipping from South d American ports. ce 11 A receiver for the Dime Savings Bank of Chicago has been appointed. The bank owes depositors $365,000, 1, and has but $175,000 cash, but claims y to be able to pay depositors in full. y 10 Charles A. Eaton & Co., who operp ates one of the largest shoe factories in or Brockton. Mass., have discharged 300 employes and issued notice that the at factory would be closed indefinitely. 1. Burglars entered the shop of the A. ee et H. Reeves Gold Leaf Manufacturing Company, 153 Fifth avenue, Chicage, and blew open the safe, securing $5000 in gold in various stages of manufac ture. The woman suffrage bill passed the Senate of Nevada by a vote of 9 to 5 id and was sent to the Assembly, where 10 it was referred to a committee. It is 11 thought it will be defeated in the Ash te sembly by a very small majority. 01 The boys' dormitory of the Genessee Wesleyan Seminary, a four-story brick 18 building at Lima, N. Y., was burned ly the other morning. One student was en injured. The valuable library was or 000. entirely destroyed. The loss is $50,is or A defalcation of $43,000 has been ne discovered in the Second National ne Bank of Parkersburg. West Va., in the de accounts of Lee McFarland. an old and to trusted clerk in charge of indivioual on deposits. McFarland had speculated ne in grain and stocks. rd ht With the intention of providing at something to occupy the minds of the ed convicts at Sing Sing Prison, New se York, a class in drawing will be rt started. Among the convicts is an n. artist and architect. There is also in of Sing Sing an Italian sculptor, who will SS. start a class in modeling clay and wax. n, Edward Batson was instantly killed and ten others seriously injured, two iiprobably fatally, at the Georgia mine, ill near Flemington, W. Va. Coal is sent th down an inclined railway by gravity ry loaded cars hauling up empty ones or er another track. When the accident roccurred thrity miners were going up on in two cars when a loaded car jumped the train. the track, crashing into the upbound all A stockman named Maxiuall