National Bank (Boyertown, PA)

Episode Information

Episode UID
213701222
Episode Type
Suspension โ†’ Reopening
Bank Type
national
Bank ID
21370 national
Charter Number
2137
Start Date
October 18, 1901
Location
Boyertown, Pennsylvania (40.334, -75.637)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
efa2e4b6a5cc78d8

Response Measures

None

Events (3)

1. March 3, 1874 Chartered
Source
historical_nic
2. October 18, 1901 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Disappearance of cashier Milton A. Mory and abstraction/defalcation of securities (about $165,000 reported)
Newspaper Excerpt
the bank had closed its doors on account of the disappearance of the cashier
Source
newspapers
3. October 24, 1901 Reopening
Newspaper Excerpt
the Controller of the Currency ... permit the bank to resume business; Boyertown Bank Resumes. 'There was no run and business was conducted as usual.'
Source
newspapers

Newspaper Articles (17)

Article from Richmond Daily Palladium, October 18, 1901

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Bank Closed, Cashier Gone. Washington. D. C., Oct. 18.-The President of the national bank at Boyertown, Pa., telegraphed the comptroller of the currency that the bank had closed its door on account of the disappearance of the cashier. A temporary receiver has been appointed. Its deposits amount to $413,215.


Article from Evening Times-Republican, October 18, 1901

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Cashier Missing, Bank Closed. Washington, Oct. 18.-The comptroller of the currency is in receipt of a telegram from the president of the National Bank of Boyerstown, Pa., saying the bank closed its doors today on account of the disappearance of the cashier. National Bank Examiner McDougal was appointed temporary receiver.


Article from Deseret Evening News, October 18, 1901

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Cashier Disappears. Washington, Oct. 18.-The comptroller of the currency is in receipt of a telegram from the president of the National Bank of Boyertown, Pa., that the bank has closed Its doors on B.Ccount of the disappearance of the cashler. James B. McDougal, national bank examiner, has been appointed temporaryreceiver. The bank's sworn report to the comptroller of the currency on September 30, 1901, showed its capital to be $100.000; surplus and undivided profits $108,713, and deposits $413,215. The comptroiler has no information as to the amount of defalcation, if any.


Article from Alexandria Gazette, October 21, 1901

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Examining the Books. Reading, Pa., Oct. 21.-The National Bank of Boyertown was not reopened today. Temporary Receiver MeDougall, from the United States Treasary department, is examining the books, which are said to be in a badly complicated condition. It is now said there is a shortage of about $30,000 in missing Cashier Mory's accounts, and a warrant for his arrest may be swore out after Mr. McDougail has completed his examination


Article from Wheeling Register, October 22, 1901

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THE BANK STILL CLOSED. READING, Pa., October 21.-The belief of some that the Boyertown National Bank would reopen its doors this morning has come to naught, as the bank is still closed, and it is thought will so remain for some time. Temporary receiver, McDougal, and an assistant to-day continued the investigation of the condition of the institution. Meanwhile the notice on the bank's door that Bank Examiner McDougal is in charge as temporary receiver, continues. Many people came to the town to draw their money and were disappointed.


Article from The Semi-Weekly Messenger, October 22, 1901

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BANK CASHIER DISAPPEARS The Bank Suspends-The Cashier's Defalcation is Not Known Boyertown, Pa., October 18.-Shortly before noon today the doors of the National Bank of Boyertown, located here; were closed. A notice posted on the bank's door stated that it was done because of the disappearance of Cashier Milton A. Mory. who has not been seen for a week. The resources of the bank amount to nearly $700,000.


Article from Wheeling Register, October 23, 1901

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for divorce which he brought against the countess in February last. NEW YORK, October 22.-Sir Thomas Lipton sailed for home to-day on the steamer Celtic. His steam yacht, the Erin, will sail at noon to-morrow. NEWARK. O,, October 22.-Wm. Moore to-day shot and killed his wife and then committed suicide. Domestic difficulties are supposed to have been the cause. BUFFALO. October 22.-The praise meeting of the Universalist general convention was led by Rev. L. Ward Brigham, of Rochester, Minn. A business session followed. LONDON, October 22.-Bord Cromer, the British diplomatic agent and consul general in Egypt, was married to-day to Lady Katherine Thynne, sister of the Marquis of Bath. DOVER. Del., October 22.-A certificate of incorporation was filed here by the St. Croix Copper Mining & Milling Company, of Titusville. Pa to mine for ores of all kinds. Capital $1,000,000. BOONEVILLE Ind., October 22.-W. B. Wheeler, who murdered Elias Burns, his son-in-law. was to-day sentenced to be hanged February 8. He is the first prisoner to get the death penalty in Warrick county. BERLIN, October 22.-It is announced in a dispatch received here from Swatow that one hundred and forty rebels have been executed and that order has been restored in the Hsing-Ning district, where several missions were recently destroyed. PUEBLO, Col., October 22-A courier to the Star-Journal brings news of excitement over a gold discovery at Beulah, 38 miles west of this city. Five hundred claims have been located in the past 24 hours. A ledge of free gold returns nearly $2,000 a ton. TOLEDO. O., October 22.-The executive board of the American League of Civic Improvement was held here to-day. and It was decided to hold the next annual convention at St. Paul. Minn. in September, 1902. It was also decided to establish the national headquarters in Springfield, Ohio. WASHINGTON, October 22.-The comptroller of the currency to-day received a telegram from Alfred Ewer. bank examiner. regarding the Merchants' National Bank of Lowell. He reports that the bank's loss is about $115,000. that the bank is fully solvent and that there was no run upon it. NEW YORK, October 22. Vice Chancellor Stevens, of Newark. N. J., to-day appointed Samuel F. Leever receiver for the New Jersey Automobile Company. The receiver was appointed on the application of Frederic C. Hedge, president of the company. on the ground that the company is insolvent. DALLAS. Texas, October 22.-Private telegrams received here from Palestine, Texas, state that Judge J. B. Reagan, chairman of the Texas State Railway Commission and the only survivor of the Confederate cabinet of Jefferson Davis, is dangerously 111 at his home in Palestine. Judge Reagan is 85 years of age. BERLIN, October 22.-To-day is the birthday of Empress Augusta Victoria and flags were displayed on all public buildings and many private buildings. There were no court festivities owing to her majesty's indisposition and to the fact that the imperial family is in mourning for the late Queen Victoria. BERLIN, October 22.-A semi-official statement published by the North German Gazette to-day, concerning the existing commercial treatles and the proposed tariff, says notice of the former's termination depends on the passage of the new tariff bill. The paper believes the treaties will not be denounced beforehand. NEW YORK, October 22.-Jewelry valued at $10,000. as well as $300 in gold, has disappeared from the residence of Harris Mandelbaum. a real estate dealer of this city. The money and valuables were stored in a safe in the house. One of the servants who slept in a room adjoining the one in which the safe was kept, is also missing. MONTCEAU LES MINES France. October 22 -The prefect has issued a proclamation prohibiting the sale or transportation of arms or ammunition, and ordering all persons possessed of arms or ammunition to deposit them in the town hall, or at police headquarters, within three days. Otherwise they will be seized and confiscated. READING, Pa., October 22.-The officials of the Boyertown National Bank now admit that there is a shortage of $30,000 in the funds of the institution. Bank Examiner McDougall is investigating the affairs of the bank. The bank officials say the depositors of the bank will not lose a dollar. Nothing has been heard from former Cashier Mory. MINNEAPOLIS. Minn., October 22 -No will was left by the late John S. Pillsbury, former governor of Minnesota. He was content to give to any institution or movement which he deemed worthy of aid. and was also content to let the laws of Minnesota determine the final disposition of his estate. He said so in as many words. His estate is estimated to be worth $5,000,000. LANCASTER, Pa. October 22.-Mrs. Harriet Conter, of this city, was using benzine to clean out a eloset in her home to-day when it was ignited by a lamp. The explosion that followed blew out all the windows in the front of the house. Mrs. Conter was horribly burned. She was removed to a hospital where she died a few hours later. She was 38 years of age and is the mother of six children. LONDON. October 22.-Marie Josephine Eastwick the young Philadelphia woman who was committed October 1st in the Guild Hall police court for trial at the Old Bailey on charge of having forged a railroad certificate to the value of $100.000. was arraigned to-day and pleaded guilty. Sentence was postponed to the next session of the court in order to atlow an examination to be made as to the prisoner's sanity. PHILADELPHIA, October 22.-The superior court to-day admitted to bail H. F. Hasse. C. J. Schramm and Nelson H. Lund. of Elk county, who were convicted in the criminal court of that county of conspiracy and sentenced to an imprisonment in the western penitentiary at Pittsburg. The ball in each case was placed at $1,500 and the order of the court was made a supersedeas returnable for argument in this city on December 9.


Article from The Butte Inter Mountain, October 24, 1901

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many people the learned professions, industries and literature were honored by Yale university. PEKIN-There is strong opposition among conservative Chinese officers to Wu Ting Fang, Chinese minister at Washington, retaining a foreign mission. PARIS-A dispatch from St. Petersburg to the Echo De Paris, says Count Tolstoi has had an additional relapse and that his condition is considered very serious. MEMPHIS, Tenn.,-The world's trotting record for a half mile race with other horses was broken at Billings park, when Audubon Boy went half a mile in 1:00 1-4. SAN FRANCISCO.-The Southern Pacific company has offered a reward of $250 for the arrest of each of the robbers implicated in the Eugene, Ore., hold-up. WASHINGTON.-The controller of the currency authorized the temporary receiver of the national bank of Boyertown, Pa., to permit the bank to resume business. SEATTLE.-The government has let contracts arranging for a good mail system for that portion of Southeastern Alaska between Juneau and the Aleutian archipelago. TUCSON, Ariz.-The United States grand jury returned an indictment against ex-Customs Collector Hoey on three charges in admitting Chinese into the United States. SAN FRANCISCO.-United States District Judge DeHaven declined a petition for a writ of habeas corpus filed by Foo Young Yo, who arrived from the Orient some months ago. FAIRPLAY, Colo.-District Attorney Pence has filed information charging Charles Baker and Mrs. Ella J. Valle with the murder of the latter's husband, Uplide Vallie, at Jefferson. SEATTLE.-The whaling schooner George W. Preston, Capt. Angus Douglas, arrived in port after a cruise of the remarkable length of four years and five months in Alaskan waters.


Article from Richmond Daily Palladium, October 24, 1901

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TERSE TELEGRAMS nt Leo Tolstoi is again seriously ill. other world's record was broken when bon Boy stepped half a mile in 1:1/4 at ohis, Tenn., elegation of Porto Rican merchants are ng this country to inspect some of its great less enterprises. are is a movement in Honolulu to erect a ment in honor of the late president. It is orted by all elements. Morris Park yesterday three horses were di while racing and fatal injuries were dined by Little Oisen, a jocky. news of the incorporation of John W. kay's company to lay a cable across the Pacific is received with delight in Honolulu plant ef the American Washboard Co., at land was entirely destroyed by fire yesterLoss $50,000, partially covered by insur1e steamer Monowai, for Melbourne, is now eek over due from New Zeland and nothing been heard of her. She left Auckland with passengers and a crew of 79 ommander in chief Ell Torrance of the G. A. has issued a circular letter asking contribufor the purpose of erecting at Canton, o., morial to comrade William McKinley. loston police inspectors are co-operating th the United States Marshals office in the arch for Louis H. Swift and Albert G. Smith the Merchants National bank of Lowell. The comptroller of the currency has authorizthe temporory receiver of the National Bank Boyertown, Pa., to turn over the assets of bank to the directors and to permit the nk to resume business. The Cherokee Indian Nation, through its prinpal chief claiming to represent 35,000 CheroIndians, has instituted equity proceedings minst secretary Hitchcock and other officials enjoin them from granting leases of Cherokee nds for mining purposes.


Article from Evening Star, October 24, 1901

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NATIONAL BANK TO RESUME. Financial Institution of Boyertown, Pa., Now Solvent. The controller of the currency has authorized the temporary receiver of the National Bank of Boyertown, Pa., to turn over the assets of the bank to the directors and to permit the bank to resume business tomorrow morning. The suspension of this bank was due to the abstraction of about $165,000 of the securities by the late cashier, W. A. Mory. The receiver reports that the bank recovered all of these securities except 400 shares of the American Smelting Company's stock, which were hypothecated by the late cashier. The bank will sustain a loss through the cashier's transactions of about $20,000, which amount will probably be recovered from his bondsmen. In all other respects the receiver reports the transactions of the bank to have been regular, and that it is now in a solvent condition and prepared to resume business.


Article from Evening Star, October 24, 1901

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Boyertown Bank Resumes. READING, Pa., October 24.-Pursuant to a notice received from the controller of the currency, the Boyerstown National Bank opened for business today. There was ne run and business was conducted as usual. Bank Examiner McDougall is still in charge. It is now known that only $20,000 in securities are missing, but Cashier Mory's surety is sufficient and the bank is perfectly solvent.


Article from The Wilmington Daily Republican, October 24, 1901

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Boyertown Bank Opened, Boyertown, Oct. 24 -The directors of the Boyertown National Bank assumed control of that in-titution once more this morning and when the usual hour for begining business arrived, the deurs were thrown open. There was no run. Few of the depositors knew that the bank would resume business this morning except such as lived in Boyorstown. Through the country di-tricts the farmer hudnot heard the news. The townspeople were satiffed that the institution was all right and did not rush to withdraw their accounts. Some depositors who had been hard press ed for monoy on'account of the temporary suspension were practically the only ones who presented checks at the paying teller's window


Article from New-York Tribune, October 24, 1901

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BOYERTOWN BANK TO RESUME BUSINESS. Washington, Oct. 23.-The - Controller of the Currency to-day authorized the temporary receiver of the National Bank of Boyertown, Penn., to turn over the assets to the directors and permit the bank to resume business on Thursday morning. The suspension of this bank was due to the abstraction of about $165,000 of the securities by the late cashier, M. A. Mory. The receiver reports that the bank recovered all of these securities except 400 shares of the American Smelting Company's stock. which were hypothecated by Mory. The bank will sustain a loss through the cashier's transactions of about $20,000, which may be recovered from his bondsmen. In all other respects the receiver reports the transactions of the bank to have been regular, and that it is now in a solvent condition and prepared to resume business.


Article from Martinsburg Herald, October 26, 1901

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BANK RE-OPENS. Reading, Pa. Oct 24. -The National Bank at Boyerstown re-opened today. No run.


Article from Custer Weekly Chronicle, October 26, 1901

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Pennsylvania Bank Closes. Washington, Oct. 18.-The controller of thte currency is in receipt of a telegram from the president of the National bank of Boyerstown, Pa., that the bank had closed its doors on account of the disappearance of the cashier. National Bank Examiner McDougal has been appointed temporary receiver.


Article from Custer Weekly Chronicle, October 26, 1901

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Pennsylvania Bank Closes. Washington, Oct. 18.-The controller of thte currency is in receipt of a telegram from the president of the National bank of Boyerstown, Pa., that the bank had closed its doors on account of the disappearance of the cashier. National Bank Examiner McDougal has been appointed temporary receiver.


Article from Vernon County Censor, October 30, 1901

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Cashier's Queer Action. The National Bank of Boyertown, Pa., suspended because of the disappearan e of the cashier and $165,000 in securities. He wrote where the securities were, they were recovered and the bank resumed, but he is still missing and his mind is thought to be affected.