Eldred Bank (Eldred, PA)

Episode Information

Episode UID
135013291307
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
13501329 hash
Start Date
November 23, 1908
Location
Eldred, Pennsylvania (41.958, -78.385)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
b1993b3e67f887b9

Response Measures

None

Description

Contemporary reports show a suspension Nov 23, 1908 caused by alleged overdrafts; later disposition (receiver/reopening) not reported in these articles.

Events (1)

1. November 23, 1908 Suspension
Cause
Correspondent
Cause Details
Alleged overdrafts at an Allegheny correspondent or overdrafts by an official involving an Allegheny bank are reported to have caused the suspension.
Newspaper Excerpt
The Eldred bank, of Eldred, McKean county, has suspended. It is a private institution.
Source
newspapers

Newspaper Articles (10)

Article from Evening Times-Republican, November 23, 1908

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Article Text

PRIVATE BANK SUSPENDS. Liabilities of Eldred, Pa., Institution, Estimated at $160,000. Bradford, Pa., Nov. 23.-The Eldred bank, of Eldred, McKean county, has suspended. It is a private institution. The liabilities are estimated at $160,000, and the assets $140,000. Allegheny overdrafts by an official bank are said to have caused the suspension.


Article from The Topeka State Journal, November 23, 1908

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Article Text

Bank Suspends in Pennsylvania. Bradford, Pa., Nov. 23.-The Eldred bank of Eldred has suspended. It is a private institution. It is said the liabilities are about $160,000 and assets about $140,000. The depositors are greatly excited, but the directors state all will be paid in full. Alleged overdrafts by an official of the bank are said to have caused the suspension.


Article from Ottumwa Tri-Weekly Courier, November 24, 1908

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Article Text

Allegheny Overdraft Cause Suspension Bradford, Pa., Nov. 23.-Eldred bank of Eldred, McKean county, suspended its private institution. Liabilities estimated at $160,000; assets $140,000. Allegheny overdrafts by the official bank are said to have caused the suspension.


Article from The Daily Sentinel, November 24, 1908

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Article Text

BANK HAS SUSPENDED. [By Associated Press.] Bradford, Pa., Nov. 24.-The Eldred bank. McKean county, has suspended. It is a private institution. It is said the Liabilities are about $160,000 and assets about $140,000. The depositors are greatly excited, but the directors state they will be paid in full. Alleged overdrafts by an official of the bank are said to have caused the suspension.


Article from The Plymouth Tribune, December 3, 1908

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Article Text

Bank at Eldred, Pa., Suspends. The Eldred Bank of Eldred, Pa., has suspended. It is said the liabilities are about $160,000 and assets about $140,000. Alleged overdrafts by an official of the bank are said to have caused the suspension.


Article from Dakota Farmers' Leader, December 4, 1908

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Article Text

Bank at Eldred, Pa., Suspends. The Eldred Bank of Eldred, Pa., has suspended. It is said the liabilities are about $160,000 and assets about $140,000. Alleged overdrafts by an official of the bank are said to have caused the suspension.


Article from The Rich Hill Tribune, December 31, 1908

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Article Text

Texas saving bank, placed in receiver's hands. 18—John R. Walsh, president Chicago National bank and several railroads, convicted of misappropriating institution's funds. 21—Capital State Bank, Boise, Idaho, suspended. 22—Traders and Mechanics' Bank, Pittsburg, Pa., closed doors. 25—National Bank of North America, New York, closed for liquidation, by order of government. 29—New Amsterdam National bank, capital $1,000,000, and Mechanics and Traders' bank, both of New York, taken in charge by comptroller of currency. 31—Oriental Bank of New York closed doors, following run. Feb. 13—W. B. Ridgely, comptroller of currency, accepted presidency of reorganized National Bank of Commerce, Kansas City, Mo. 26—International and Great Northern Railroad Co., a Gould line, placed in receivers' hands. 27—Financiers E. R. Thomas and O. F. Thomas indicted on charge of mismanagement of funds of Provident Savings Life Assurance society. Mar. 13—John R. Walsh denied new trial; sentenced to five years in federal prison. 16—People's National bank, Aspin, Col., closed. Apr. 1—Pike County Bank and Trust Co., Macomb City, Miss., placed in receiver's hands. 21—Bank of Wauseon, Wauseon, O., closed doors. 24—T. A. McIntyre & Co., with houses in many cities, failed for $1,000,000. May 8—Euclid Avenue Trust Co., Cleveland, O., assigned. 14—Reserve Trust Co., and American Savings bank, Cleveland, O., closed their doors. 28—G. W. MacMillen & Co., Pittsburg, Pa., stockbrokers, failed; liabilities, $1,800,000. Jun. 2—Kosciusko Company bank, Warsaw, Ind., closed by state auditor. 23—Citizens' bank, Dover, Ky., closed doors. Jul. 14—National Deposit bank, Philadelphia, Pa., closed by comptroller of currency. 17—Farmers and Merchants' Banking Co., Cleveland, O., failed. Aug. 6—First National bank, Belle Plaine, Minn., closed by order comptroller of currency; bank was insolvent; President J. G. Lund committed suicide. 25—A. O. Brown & Co., one of largest New York brokerage firms, failed; liabilities over $1,000,000. Sep. 10—A. Booth & Co., largest fish house in country, forced into receiver's hands. Oct. 16—Union National bank, Sommerville, Pa., closed by government. Nov. 5—Charles W. Morse and Alfred H. Curtis, great financiers, found guilty of misapplication of funds and falsifying books of National Bank of America, New York. 6—C. W. Morse sentenced to 15 years; Curtis given liberty on suspended sentence. 23—Eldred bank of Eldred, Pa., suspended; capital stock, $100,000. Dec. 7—National exchange bank at Springfield, Mo., closed; excitement caused by effort of W. O. Oldham, cashier of State Savings bank, to shoot President H. B. McDaniel, of Union National bank. 11—Springport, Mich., State Savings bank closed by bank examiner.


Article from The Guthrie Daily Leader, January 2, 1909

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Article Text

Texas saving bank, placed in receiver's hands. 18—John R. Walsh, president Chicago National bank and several railroads, convicted of misappropriating institution's funds. 21—Capital State Bank, Boise, Idaho, suspended. 22—Traders and Mechanics' Bank, Pittsburg, Pa., closed doors. 25—National Bank of North America, New York, closed for liquidation, by order of government. 29—New Amsterdam National bank, capital $1,000,000, and Mechanics and Traders' bank, both of New York, taken in charge by comptroller of currency. 31—Oriental Bank of New York closed doors, following run. Feb. 13—W. B. Ridgely, comptroller of currency, accepted presidency of reorganized National Bank of Commerce, Kansas City, Mo. 26—International and Great Northern Railroad Co., a Gould line, placed in receivers' hands. 27—Financiers E. R. Thomas and O. F. Thomas indicted on charge of mismanagement of funds of Provident Savings Life Assurance society. Mar. 13—John R. Walsh denied new trial; sentenced to five years in federal prison. 16—People's National bank, Aspin, Col., closed. Apr. 1—Pike County Bank and Trust Co., Macomb City, Miss., placed in receiver's hands. 21—Bank of Wauseon, Wauseon, O., closed doors. 24—T. A. McIntyre & Co., with houses in many cities, failed for $1,000,000. May 8—Euclid Avenue Trust Co., Cleveland, O., assigned. 14—Reserve Trust Co., and American Savings bank, Cleveland, O., closed their doors. 28—G. W. MacMillen & Co., Pittsburg, Pa., stockbrokers, failed; liabilities, $1,800,000. Jun. 3—Kosciusko Company bank, Warsaw, Ind., closed by state auditor. 23—Citizens' bank, Dover, Ky., closed doors. Jul. 14—National Deposit bank, Philadelphia, Pa., closed by comptroller of currency. 17—Farmers and Merchants' Banking Co., Cleveland, O., failed. Aug. 6—First National bank, Belle Plaine, Minn., closed by order comptroller of currency; bank was insolvent; President J. G. Lund committed suicide. 25—A. O. Brown & Co., one of largest New York brokerage firms, failed; liabilities over $1,000,000. Sep. 10—A. Booth & Co., largest fish house in country, forced into receiver's hands. Oct. 16—Union National bank, Sommerville, Pa., closed by government. Nov. 5—Charles W. Morse and Alfred H. Curtis, great financiers, found guilty of misapplication of funds and falsifying books of National Bank of America, New York. 6—C. W. Morse sentenced to 15 years; Curtis given liberty on suspended sentence. 23—Eldred bank of Eldred, Pa., suspended; capital stock, $100,000. Dec. 7—National exchange bank at Springfield, Mo., closed; excitement caused by effort of W. O. Oldham, cashier of State Savings bank, to shoot President H. B. McDaniel, of Union National bank. 11—Springport, Mich., State Savings bank closed by bank examiner.


Article from The Hickman Courier, January 7, 1909

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Article Text

Texas saving bank, placed in receiver's hands. 18-John R. Walsh, president Chicago National bank and several railroads, convicted of misappropriating institution's funds. 21-Capital State Bank. Boise, Idaho, suspended. 22-Traders and Mechanics' Bank, Pittsburg. Pa., closed doors. 25-National Bank of North America, New York, closed for liquidation, by order of government. 29-New Amsterdam National bank, capItal $1,000,000, and Mechanies and Traders' bank, both of New York. taken in charge by comptroller of currency. 31-Oriental Bank of New York closed doors. following run. Feb. 13-W. B. Ridgely, comptroller of currency, accepted presidency of reorganized National Bank of Commerce, Kansas City, Mo. 26-International and Great Northern Railroad Co., a Gould line, placed in receivers' hands. 27-Financiers E. R. Thomas and O. F. Thomas indicted on charge of mismanagement of funds of Provident Savings Life Assurance society. Mar. 13-John R. Walsh denied new trial; sentenced to five years in federal prison. 16-People's National bank, Aspin, Col., closed. Apr. 1-Pike County Bank and Trust Co., Macomb City, Miss., placed in receiver's hands. 21-Bank of Wauseon, Wauseon, O., closed doors. 24-T. A. McIntyre & Co., with houses in many cities, failed for $1,000,000. May 8-Euclid Avenue Trust Co., Cleveland, O., assigned. 14-Reserve Trust Co., and American Savings bank, Cleveland, O., closed their doors. 28-G. W. MacMillen & Co., Pittsburg, Pa., stockbrokers, falled; liabilities, $1,800,000. Jun. 3-Kosciusko Company bank, Warsaw. Ind., closed by state auditor. 23-Citizens' bank, Dover, Ky., closed doors. Jul. 14-National Deposit bank. Philadelphia, Pa., closed by comptroller of currency. 17-Farmers and Merchants' Banking Co., Cleveland, O., failed. 22-Standard on $29,240,000 fine deetsion unanimously reversed by United States court of appeals at Chieago. Aug. 6-First National bank, Belle Plaine, Minn., closed by order comptroller of currency: bank was insolvent: President J. G. Lund committed suicide. 25-A. O. Brown & Co., one of largest New York brokerage firms, failed; liabilities over $1,000,000. Sep. 10-A. Booth & Co., largest fish house in country, forced into receiver's hands. Oct. 16-Union National bank, Sommerville, Pa., closed by government. Nov. 5-Charles W. Morse and Alfred H. Curtis, great financiers, found guilty of misapplication of funds and falsifying books of National Bank of America, New York. 6-C. W. Morse sentenced to 15 years: Curtis given liberty on suspended sentence. 23-Eldred bank of Eldred. Pa., suspended; capital stock, $100,000. Dec. 7-National exchange bank at Springfield, Mo., closed: excitement caused by effort of W. O. Oldham. cashier of State Savings bank. to shoot President H. B. McDaniel, of Union National bank. 11-Springport, Mich., State Savings bank closed by bank examiner. 16-Somersworth, N. H., First National bank closed. following discovery of shortage of $85,000. 23-Thomas F. Ryan announced retirement from finance. 26-Henry W. Poor, New York broker, assigned for creditors,


Article from Marble Hill Press, January 7, 1909

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Article Text

Texas saving bank, placed in receiver's hands. 18-John R. Walsh, president Chicago National bank and several railroads, convicted of misappropriating institution's funds. 21-Capital State Bank, Boise, Idaho, suspended. 22-Traders and Mechanics' Bank, Pittsburg. Pa., closed doors. %-National Bank of North America. New York, closed for liquidation, by order of government. 29-New Amsterdam National bank. captal $1,000,000, and Mechanics and Traders' bank, both of New York, taken in charge by comptroller of currency. 31-Oriental Bank of New York closed doors, following run. Feb. 13-W. B. Ridgely, comptroller of currency, accepted presidency of reorganized National Bank of Commerce, Kansas City, Mo. 26-International and Great Northern Railroad Co., a Gould line, placed in receivers' hands. 27-Financiers E. R. Thomas and O. F. Thomas indicted on charge of mismanagement of funds of Provident Savings Life Assurance society. Mar. 13-John R. Walsh denied new trial: sentenced to five years in federal prison. 16-People's National bank, Aspin, CoL, closed. Apr. 1-Pike County Bank and Trust Co., Macomb City, Miss., placed in receiver's hands. 21-Bank of Wauseon. Wauseon, O., closed doors. 24-T. A. McIntyre & Co., with houses in many cities, failed for $1,000,000. May S-Euclid Avenue Trust Co., Cleveland. O., assigned. 14-Reserve Trust Co., and American Savings bank, Cleveland, O., closed their doors. 28-G. W. MacMillen & Co., Pittsburg. Pa., stockbrokers, falled: liabilities, $1,800,000. Jun. 3-Kosciusko Company bank, Warsaw, Ind., closed by state auditor. 23-Citizens' bank, Dover, Ky., closed doors. Jul. 14-National Deposit bank, Philadelphia, Pa., closed by comptroller of currency. 17-Farmers and Merchants' Banking Co., Cleveland, O., failed. 22-Standard on $29,240,000 fine declsion unanimously reversed by United States court of appeals at Chiengo. Aug. 6-First National bank, Belle Plaine, Minn., closed by order comptroller of currency: bank was insolvent: President J. G. Lund committed suicide 25-A. O. Brown & Co., one of largest New York brokerage firms, failed: liabilities over $1,000,000 Sep. 10-A. Booth & Co., largest fish house in country, forced into receiver's hands. Oct. 16-Union National bank, Sommerville, Pa., closed by government. Nov. 5-Charles W. Morse and Alfred H. Curtis, great financiers, found guilty of misapplication of funds and falsifying books of National Bank of America, New York. 6-C. W. Morse sentenced to 15 years: Curtis given liberty on suspended sentence. 23-Eldred bank of Eldred. Pa., suspended: capital stock, $100,000. Dec. 1-National exchange bank at Springfield, Mo., closed: excitement caused by effort of W. O. Oldham, cashier of State Savings bank, to shoot President H. B. McDaniel, of Union National bank. 11-Springport, Mich., State Savings bank closed by bank examiner. 16-Somersworth, N. H., First National bank closed, following discovery of shortage of $85,000. 23-Thomas F. Ryan announced retirement from finance. 26-Henry W. Poor, New York broker, assigned for creditors.