16822. First National Bank (Oneonta, NY)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
420
Charter Number
420
Start Date
March 23, 1911
Location
Oneonta, New York (42.453, -75.064)

Metadata

Model
gpt-5-mini
Short Digest
4134e22b

Response Measures

None

Receivership Details

Date receivership started
1913-04-17
OCC cause of failure
Losses

Description

Multiple contemporaneous wire stories report the First National Bank of Oneonta suspended business on March 23, 1911. Articles describe prolonged withdrawals and an increase in loans/discounts after a change in controlling interest; a national bank examiner was placed in charge. No clear report of reopening appears in the provided clippings, so I categorize this as a suspension that ultimately leads to closure (or at least no evidence of resumption). If later reopening evidence is available, episode_type should be revised.

Events (4)

1. May 9, 1864 Chartered
Source
historical_nic
2. March 23, 1911 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Gradual withdrawal of deposits following change in controlling interest and increased loans and discounts; withdrawals more extensive in past sixty days; examiners placed in charge.
Newspaper Excerpt
FIRST NATIONAL BANK OF ONEONTA SUSPENDS. ONEONTA, N. Y., March 23.-The First National Bank, of this city, today suspended business.
Source
newspapers
3. December 15, 1911 Voluntary Liquidation
Source
historical_nic
4. April 17, 1913 Receivership
Source
historical_nic

Newspaper Articles (10)

Article from Newark Evening Star and Newark Advertiser, March 23, 1911

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Article Text

FIRST NATIONAL BANK OF ONEONTA SUSPENDS. ONEONTA, N. Y., March 23.-The First National Bank, of this city, today suspended business. The bank has about $800,000 resources and the deposits are about $500,000, with an equal amount of loans and discounts. Herbert T. Jennings, of Moun! Vernon, and associates acquired a controlling interest in the bank about a year ago, since which time there has been a gradual withdrawal of deposits and an increase in loans and discounts. The withdrawals have been more extensive for the past sixty days. Unless there should be a marked shrinkage in the loans and discounts collectable it is expected the bank will pay depositors in full. Benjamin Marcuse, a national bank examiner, is in charge of the bank temporarily.


Article from The Topeka State Journal, March 23, 1911

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Article Text

National Bank Suspends. Oneonta, N. Y., March 23.-The First National bank of this city suspended business today. The bank has about $800,000 resources and the deposits are about $500,000 with an equal amount of loans and discounts. Unless there should be a marked shrinkage on the loans and discounts collectible it is expected the bank will pay depositors in full.


Article from New-York Tribune, March 25, 1911

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Article Text

MT. VERNON BANK CLOSED Suspension of Oneonta Concern Makes Directors Cautious. The Mount Vernon National Bank. of Mount Vernon, with a capital of $200,000. was closed yesterday by its directors. Herbert T. Jennings, its president. is also an officer of the First National Bank of Oneonta, which was closed by its directors on Thursday. The cashier said the bank was solvent and able to meet all its obligations, but It had been decided to close its doors, so its creditors and depositors would be assured that they were protected. He also said the accounts of the bank would be examined by the government examiners for the benefit of the depositors. He also said that the closing of the bank was caused primarily by the closing of the bank in Oneonta Thursday. The directors are Herbert T. Jennings, Samuel W. Raymond, Jacob Norden, John L. Fee. E. M. Benford and Edward H. Patterson


Article from The Sentinel=record, March 25, 1911

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Article Text

BANK CLOSED DOORS. Mt. Vernon National Bank Closed as a Precaution. New York, March 24 - The - Mount Vernon National Bank at Mt. Vernon, N. Y., suspended business this afternoon, The institution has a capital stock of $200,000 and deposits of more than $500,000. Its president, Herbert T. Jennings, was vice president of the First National Bank of Oneonta, which suspended business yesterday. The Mount Vernon National Bank is solvent, according to Samuel W. Raymond being closed to insure depositors and creditors that their interests would be protected in the face of the suspension of the Oneonta bank,


Article from Daily Kennebec Journal, March 25, 1911

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Article Text

CONDENSED DISPATCHES. The Mount Vernon National Bank at Mount Vernon. N. Y., suspended business Friday by decision of its board of directors. The institution has capital stock of $200.and deposits of more than $500,000. Its president. Herbert 1. Jennings, was vice president of the First National Bank of Oneonta, which suspended business simlarly Thursday. The Mount Vernon Naional Bank is entirely solvent and able to ay depositors dollar for dollar, accordto a declaration by Samuel W. Raynond, cashier and director. The instituion was closed as a precautionary measMr. Raymond said, to insure depositors and creditors that their interests woul be protected in the face of the suspension of he Oneonta bank with which the Mt. Verinstitution is closely allied. Misbranding of coffee, Geneva gin and vanilla and lemon flavoring exracts constitute the most common riolation of the pure food laws, acording to the department of agriculure. Upon analysis it has been found hat many vanilla and lemon extracts limitation products, colored with oal tar dyes. As a result of several lecisions which have been rendered ecently the department is making eforts to see that the pure food laws not violated. Government sleuths ave seized many consignments of ood products recently which on being inalyzed have been found to be either mitations or to contain ingredients inurious to any person eating them. Wild, uncivilized Indians, who live ipon acorns and salmon, with an ocasional bit of meat from livestok, which they steal. and who still use OWS and arrows, inhabit the canyon Deer Creek, about 15 miles northast of Vina, Calif. This information vas received at the bureau of Indian ffairs Friday from A. L. Kroeber, urator of the Museum of Anthropolgy, University of California. Alhough an investigating party sent out the university last winter spent bout 1 month in the section occupied these Indians, they were unable to ind the band. They did, however, disover ample evidence of the existence a tribe. The writer suggests that he Indian bureau start an investigawith a view to putting these peounder government supervision. A plot for the escape of three or patients of the government hosbital for the insane at Washington was mearthed by the authorities Thurslay night when Arthur Barnes told of he plans of a band of the patients. The plan, as told by Barnes, one of he patients, contemplated that while play was going Friday night in Hitchcock hall, an outbuilding of the nstitution, where a majority of the guards would be concentrated, the paients should make their break. At the ime nine guards would be on duty to vatch over the 300 criminal insane atients and the guards were to be ttacked in the same manner as a guard was handled Monday night when fivo Darnos


Article from The Birmingham Age-Herald, March 25, 1911

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Article Text

NEW YORK BANK SUSPENDS BUSINESS New York, March 24.-The Mount Vernon National bank at Mount Vernon, N. Y., suspended business this afternoon by a decision of its board of directors. The institution has a capital stock of $200,000 and deposits of more than $500,000. Its president, Herbert T. Jennings, was vice president of the First National bank of Oneonta, which suspended business yesterday. The Mount Vernon National bank is entirely solvent, according to Samuel W. Raymond, cashier and a director. The institution was closed as a precautionary measure, Mr. Raymond said, in order to insure depositors and creditors that their ,interests would be protected in the face of the suspension of the Oneonta bank.


Article from The Greenville Journal, March 30, 1911

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Article Text

BANK IN NEW YORK CLOSES Institution at Oneonta Has $800,000 Resources and Deposits of $500,000. Oneonta, N. Y.-The First National bank of this city suspended business. The bank has about $800,000 resources and the deposits are about $500,000, with an equal amount of loans and discounts. Unless there should be a marked shrinkage in the loans and discounts collectable, it is expected the bank will pay depositors in full.


Article from River Falls Journal, March 30, 1911

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Article Text

BANK IN NEW YORK CLOSES Institution at Oneonta Has $800,000 Resources and Deposits of $500,000. Oneonta, N. Y.-The First National bank of this city suspended business. The bank has about $800,000 resources and the deposits are about $500,000, with an equal amount of loans and discounts. Unless there should be a marked shrinkage in the loans and discounts collectable, it is expected the bank will pay depositors in full.


Article from Eagle River Review, March 31, 1911

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Article Text

BANK IN NEW YORK CLOSES Institution at Oneonta Has $800,000 Resources and Deposits of $500,000. Oneonta, N. Y.-The First National bank of this city suspended business. The bank has about $800,000 resources and the deposits are about $500,000, with an equal amount of loans and discounts. Unless there should be a marked shrinkage in the loans and discounts collectable, it is expected the bank will pay depositors in full.


Article from The Meridian Times, March 31, 1911

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NEWS OF A WEEK IN CONDENSED FORM RECORD OF THE IMPORTANT EVENTS TOLD IN BRIEFEST MANNER POSSIBLE. Happenings That Are Making History -Information Gathered from All Quarters of the Globe and Given in a Few Lines. INTERMOUNTAIN Chased by ten wolves for more than a mile through Cedar canyon in the mountains northwest of Fort Collins, as Ire was on his way to Tie Sid ing. Wyoming, in search of a team, alleged to have been stolen, Al Hilton of Grover, Colo., had a narrow escape from death. Lewis Weichter, who shot and killed W. Clifford Burrows in a Denver cafe several weeks ago, has been found guilty of murder in the first degree. The jury recommended hang. Ing. The Moffat Interests will complete the Moffat road to Salt Lake without the assistance of any other railroad or combination of financiers in the country. This information comes from a Wall street source. That sheep grazing on the forest reserves will solve the problem of for ast fires was the general conclusion of a joint meeting of the officers of the National Wool Growers' association and the district supervisors of the forest service at Salt Lake, where co-operation between the sheepmen, and the forest service was discussed. Homer Davenport, the cartoonist, has filed suit at Salem, Ore, for divorce from Mrs. Daisy B. Davenport. Davenport charges that Mrs. Davenport treated him in a cruel and inhuman manner. DOMESTIC Senator A. B. Cummins, in an address to 600 members of the Grant club, at Des Moiens, Iowa, assailed the Canadian reciprocity treaty which President Taft has called an extra session of congress to consider, and insited that the agreement should be emended in important particulars be fore It is ratified by this country. Fanned by a strong wind, a small bonfire started in an alley in Minneapolis by children at play caused a fire in the heart of a fashionable residence district that caused a loss of $30,000. After swallowing poison and cut ting his throat, Wesley Churchill, 40 years old, leaped from the top of an eleven story building in Los Angeles, He landed in an alley and was mangled into a shapeless mass. With her captain dead and mourned by his widow in the cabin, a scant supply of food on board and without a correct reckoning of her position, the American barkentine James John son was sighted flying signals of dis tress 100 miles off Honolulu by the steamer Persia, which rendered the ship's crew assistance. Four masked men held up a train near Coffeyville, Kans, dynamited the safe in the express car, wrecking the safe and the car, and escaped. It is believed they secured only about $500 d Two explosions in the basement of the new million-dollar courthouse at Omaha created considerable excite ment and brought out the police re serves. Windows were shattered in buildings two blocks away and con y siderable damage done The officers E are unable to account for the explo a sion. n, The First National bank of One or onta. N. Y., suspended business Thursday. The bank has about $800. d 300 resources and the deposits are about $500,000. with an equal amount h of loans and discounts. "All Republicans agree that Taft will be the standard bearer of the Ro of publican party in the next presiden 10 tial campaign," Representative Loud at Michigan said in an address in Boston. A deficit of approximately $35,000 in the funds of the Evansville (Ind. Trust and Savings company, accord at ng to announcement of Secretary el Charles Brentano, resulted Thursday of night in the arrest of John W. Bloth A bookkeeper. he y. Attorney Charles E. Erbstein and 10 Arthur McBride, who for two weeks hav been on trial at Chicago on as charges of conspiracy to defame or State's Attorney Wayman, were found is not guilty on Wedsenday ag The Iowa senate has defeated the :y resolution for woman suffrage, by a vote of 27 to 21. ry "The most conspicuous back num an bers in the country now are rural preachers,' declared Dean J. H. Skin ner of Purdue university, before the Inter-Church Conservation congress at Decatur, Ala. Daniel Bartlett, reputed to be the oldest white man in Missouri, died its at his home in Sedalia, Mo., on Tues day, aged 110 years. He was born nt in Boonville, Mo. Bartlett was bor shortly after the inauguration o Thomas Jefferson as president H remembered the trial of Aaron Burr An analysis of Tuesday's primar revote for nominees for school director ng in Milwaukee shows a falling off in as the Socialist vote compared with the he primary a year ago, when Emil Seide was endorsed as the candidate to mayor. A band of Mexican revolutionist is reported to have crossed the line ing Chishos, Texas, raided the town. an in driven horses, cattle and goats acors onthe line. American troops have bee ne ordered to that point.