gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
bb15bfb64bf48e74
Response Measures
Full suspension, Books examined
Receivership Details
Depositor recovery rate
100.0%
Date receivership started
1886-05-04
Date receivership terminated
1887-08-18
OCC cause of failure
Fraud
Share of assets assessed as good
75.1%
Share of assets assessed as doubtful
13.0%
Share of assets assessed as worthless
11.8%
Description
Receivership reported in May after April suspension; multiple articles name the defalcation as cause.
Events (5)
1.March 17, 1874Chartered
Source
historical_nic
2.April 20, 1886Run
Cause
Bank Specific Adverse Info
Cause Details
Rumors and revelations of large defalcations (embezzlement by employee E.P. Dietrick) and other losses prompted heavy withdrawals.
Measures
National Bank Examiner Hugh Young ordered the doors closed and posted notice of examination; statement to be published.
Newspaper Excerpt
Rumors affected the City National Bank developed to such an extent, yesterday, that a run was started, and a large amount of money was drawn out by depositors.
Source
newspapers
3.April 20, 1886Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suspension ordered after run and discovery/reporting of large defalcations and other losses; examiner closed bank pending examination.
Newspaper Excerpt
The City National Bank closed its doors to-day by order of United States Bank Examiner Hugh Young.
Source
newspapers
4.May 4, 1886Receivership
Source
historical_nic
5.May 4, 1886Receivership
Newspaper Excerpt
C.A. Bowers has been appointed receiver of the City National Bank of Williamsport. The official statement of the bank is reported as follows ... liabilities exceed the assets by $51,000.
Source
newspapers
Newspaper Articles (16)
1.April 21, 1886The Indianapolis JournalIndianapolis, IN
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Article Text
A BANK CLOSES ITS DOORS. The Williamsport City National SuspendsRobbed by an Employe of $38,000. WILLIAMSPORT, Pa., April 20.-Rumors affected the City National Bank developed to such an extent, yesterday, that a run was started, and a large amount of money was drawn out by depositors. The run was resumed this morning, and National Bank Examiner Young, who arrived last night, ordered the doors closed, and posted a notice that a statement would be published in a few days. Some of the heaviest stockholders declared that there was no necessity for the bank suspending, and that all the money required could have been obtained. A few of the stockholders, two of whom were formerly directors, state that the bank was robbed, between four and five years ago, by one of the employes, the amount taken being $38,000. This robbery, they say, was concealed by the officers, only a few of the directors being informed of it. Something over a year ago the president called a private meeting of the other directors, when, for the first time, they were told. The explanation he gave of having kept the matter secret was that he had acted by the advice of counsel, the object being to recover the money. Eighteen thousand dollars was recovered and obligations obtained for the rest, but these were not being realized upon. Bank Examiner Young says the bank has had other losses by business failures. At the last quarterly statement the deposits of the bank were about $109,000. Over $40,000 was drawn out by depositors yesterday and this morning. No doubt is anywhere expressed but that the depositors will get the full amount of their claims. The officers of the bank announce that the man who committed the defalcation was E. P. Dietrick, who was book-keeper and assistant cashier of the bank at the time. It was reported that another defalcation of $20,000 had been discovered, but the bank examiner states that Dietrick's was the only one. Dietrick has for some years been in business at Camden, N. J. It is reported that an officer has been sent to take him into custody. It is thought that the stockholders of the bank will have to pay an assessment to make good the deficiency.
2.April 21, 1886New-York TribuneNew York, NY
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Article Text
A BANK CLOSES ITS DOORS. ROBBED BY ITS OFFICIALS, THE CITY NATIONAL BANK OF WILLIAMSPORT SUSPENDS. WILLIAMSPORT, Penn.,April 20(Special).-The City National Bank closed its doors to-day by order of United States Bank Examiner Hugh Young. The suspension of the bank was in great measure brought about by the thieving operations of E. Passmore Dietrick, a brother of Carrie Dietrick of the "Little Tycoon" troupe, which is now playing in New-York. He was formerly a bookkeeper in the bank. The money was stolen about four years ago and the extent of the robbery will probably reach $50,000. His duty was to keep the books but he often performed the duties of paying and receiving teller. In his capacity as bookkeeper he was enabled to cover up his stealings. When suspicion rested upon Dietrick he confessed his peculations. The affair was hushed up by his father and brother giving securities for the amount which have since proved worthless. Dietrick is now at work in Camden, N. J. Dietrick was a member of the church, a prominent politician, and speculated in stocks. He has a wife and three children, who live in Williamsport. The Dietrick defalcation is not the only blow that has struck the bank. Another deficiency of $20,000 was discovered within a few weeks.
3.April 21, 1886The Democratic LeaderCheyenne, WY
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Article Text
Suspension of a National Bank. WILLAIMSPORT, Pa., April 20.-The City National bank of Williamsport, closed its doors this morning. A statement was displayed on the door which said an examination of the affairs of the bank will be made and a statement of its condition published in a few days. The original cause is said to be a defalcation amounting to about $20 000, with a number of heavy losses. The stockholders are responsible persons and they say that depositors will be paid in full.
4.April 21, 1886St. Paul Daily GlobeSaint Paul, MN
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Article Text
CAUSED BY A ROBBERY. The Williamsport City National Bank Closes Its Doors. WILLIAMSPORT, Pa., April 20.-Rumors affecting the City National bank developed to such an extent yesterday that a ruu was started and a large amount of money was drawn out by depositors. The run was resumed this morning. and National Bank Examiner Young. who arrived last night, ordered the doors closed and posted a notice that a statement would be published in a few days. Some of the heaviest stockholders declared that there was no necessity for the bank suspending, and that all the money required could have been obtained. A few of the stockholders, two of whom were formerly directors, state that the bank was robbed between four and five years ago by one of the employes. the amount taken being $38,000. This robbery they say was concealed by the officers, only a few of the directors being informed of it. Something over a year ago the president called a private meeting of the other directors when for the first time they were told of it. The reason he gave for having kept the matter secret was that he had acted by the advice of counsel, the object being to recover the money. Eighteen thousand dollars was recovered and obligations obtained for the rest, but these were not realized upon. Bank Examiner Young says the bank has had other losses by business failures. At the last quarterly statement the deposits of the bank were about $190,000. Over $40,000 was drawn out by depositors yesterday and this morning. No doubt is anywhere expressed but that the depositors will get the full amount of their claims. The officers of the bank announce that the man who committed the defalcation was E. P. Dietrick. who was bookkeeperand assistant cashier of the bank at the time. It was reported to-day that another defalcation of $20,000 had been discovered, but the bank examiner states that Dietrick's was the only one. Dietrick has for some years been in business at Camden, N. J. It is reported that an officer has been sent to take him into custody. It is thought that the stockholders of the bank will have to pay an assessment to make good the deficiency.
5.April 21, 1886Sacramento Daily Record-UnionSacramento, CA
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Article Text
NEWS OF THE MORNING.
FOREIGN.-A fire in London caused a loss of $250,000.... Many Scotchmen are opposed to Gladstone's home-rule plans...... High water is interfering with traffic on the Canadian Pacific Railroad......Silver in London, 46½; consols, 100 9-16d; 4s, 128¾; 4½s, 114½.
EASTERN.-The reappointment of Mrs. Thompson as Postmaster at Louisville, Ky., is meeting with Democratic opposition...... The breaking of a dam at East Lee, Mass., caused the loss of several lives...... All the New York street cars are again running, except upon one line...... Miss Morosini, recently bitten by a mad dog in New York, is to be treated by Pasteur......The City National Bank of Williamsport, Pa., has failed...... The condition of ex-President Arthur's health continues critical......The transcontinental war of rates is unchanged. ......The encampment of the Grand Army of the Republic of New York begins today...... A prairie fire in Dakota caused the death of an aged woman and the fatal burning of her daughter......Government bonds are quoted in New York at 126½ for 4s of 1907; 112¼ for 4½s; 100¼ for 3s; sterling, $4 87¼@4 89¼; silver bars, 101¼.
WASHINGTON. -Grand Master Powderly, of the Knights of Labor, is at the national capital...... The House Foreign Affairs Committee has rendered worthless the Morrow Chinese bill...... Secretary Lamar has returned to his duties much improved in health...... Another call for $10,000,000 in three per cents has been made by the Secretary of the Treasury...... The appointment of Zach. Montgomery to be Assistant Attorney-General of the Interior Department has been confirmed.
PACIFIC COAST.-H. G. Coleman committed suicide in Boston Ravine, near Grass Valley......Theodore Warlick has been sentenced at Colfax, W. T., to be hanged June 9th ...... The Grand Council of the Order of Chosen Friends is in session at San Francisco...... Frederick Zurcker has been found drowned in the Columbia river...... The high license question is being agitated in Santa Cruz...... Heart disease was the cause of Richard Walworth's sudden death in Grass Valley......The trial of the San Joaquin mining debris cases has been set for May 9th.
6.April 21, 1886Savannah Morning NewsSavannah, GA
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Article Text
A Run on a Bank. WILLIAMSPORT, PA., April 20.-A heavy run began yesterday on the City National Bank and was resumed this morning, when bank examiner Hugh Young ordered the doors closed pending an examination of the bank's affairs. The officers and some of the heayiest stock. holders affirm that there was no necessity for the suspension because all the money required could be obtained. In this they are supported by officials of other banks in the citv.
7.April 21, 1886Richmond DispatchRichmond, VA
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Article Text
Run on a Bank. [By telegraph to the Dispatch.] WILLIAMSPORT, PA., April 20.A heavy run began yesterday on the City National Bank, and was resumed this morning, when Bank-Examiner Hugh Young ordered the doors closed. Pending an examination of the bank's affairs the officers and some of the heaviest stockholders affirm that there was no necessity for a suspension, because all the money required could be obtained. In this they are supported by the officials of the other banks in the city.
8.April 22, 1886Millheim JournalMillheim, PA
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- Here ! The new goods at Kauffman's Go and see. -Last week's Centre Democrat reports that Mr. Bibby, the landlord of the Spring Mills House, had the misfortune to loose $1,248 in cash, on the train going to Lewisburg. When he arrived there he missed the envelope containing said sum of money and at once had a search made for it. The envelope was found on the seat he had been occupying, but the contents were gone. The City National Bank of Williamsport closed its doors on Tuesday forenoon. A receiver for the bank will be appointed as speedily as possible and its affairs liquidated. It is asserted that the collapse is largely due to the peculations of E. P. Deitrich, a former book keeper in the bank, who several years ago robbed the bank of about $40,000. Most of that amount was recovered. But of late the bank suffered great losses by business failures. which is the real cause of the bankruptcy. - Last Sunday, (Palm Sunday) which commemorates the triumphant entry of our Saviour into Jerusalem, was a fine spring day and the various church services, Sunday schools and religious meetings were well attended by our town people. This is passion week and the 1886th anniversary of Christ's atonement for the world. It includes Good Friday, the day of Christ's death upon the cross. followed by the greatest and most important of all church festivals, Easter-commemorative of Christ's glorious resurrection. The Christian world will celebrate this joyous time by a proper observance of the church rituals. -One of the most cruel calamities brought about by that domineering dictator, fashion, is the wearing of dead birds as ornaments. It involves wholesale slaughter of birds and the ultimate extermination of the most beautiful species in our own country. The ladies could easily ayert this by refusing to wear birds as ornaments, follow the example of the wife of the Governor of Iowa, who recently called a convention of the wives of all the legislative members, and organized a society with the purpose of making a vigorous crusade against the abominable fashion. A NEW METHOD.-Mr. S.T.Brooks, of Bellefonte, is at present in town selling Prof. Rice's International System of Lessons in Music. The outfit consists of a large Chart, printed on both sides, with full instructions in the first rudiments of organ and piano playing. Everything, from the names of the keys to the playing of major and minor chords, is explained in the most simple and comprehensible manner on this chart. Along with the chart goes the Key, a book of 16 pages, containing still more information. Then a music book giving practical lessons and some of the most pupular songs accompanies the chart and key. The whole series, consisting of three grades is sold for five dollars. Having closely examined the work we can say that this system of self-teaching is beyond a doubt the best in the market and cannot fail to give satisfaction. Looking at the work in a pecuniary light it is decidedly a cheaper plan to instruct your children than to engage teachers. We un-
9.April 29, 1886The True NorthernerPaw Paw, MI
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NEWS CONDENSED. Concise Record of the Week. EASTERN. General Potter will be placed in charge of the Department of the Missouri, vice General Miles, transferred to the Department of Arizona. General Ruger will take command of the Department of Dakota, vice General Terry, now in charge of the Division of the Missouri. The boycott was the subject of denunciatory resolutions adopted by the United Presbyterian Ministerial Association, of Philadelphia. Defalcations amounting to $20,000, together with a number of heavy losses, caused the suspension of the City National Bank at Williamsport, Pennsylvania. Charles R. Crocker, the California millionaire, was probably fatally injured in New York City by being thrown from his carriage. The village of East Lee, Mass., was inundated by the giving away of a dam at Mountain Lake. Eleven persons were drowned, and several factories were wrecked, including two paper-mills. The explosion of a lamp caused a fire which destroyed the Merchant Mill, valued at $150,000, at Harrisburg, Pa. The insurance aggregates $40,000. The rifle and sewing machine firm of E. Remington & Sons, at Ilion, N. Y., has placed its affairs in the hands of receivers. The new business building at New York, erected on the site of the old Theater Comique, was partially gutted by fire, several firms losing large amounts. The police estimate the total loss at $100,000, but others place it as high as $750,000.
10.April 29, 1886Crawford AvalancheGrayling, MI
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Article Text
NEWS CONDENSED. Concise Record of the Week. EASTERN. The boycott was the subject of denunciatory resolutions adopted by the United Presbyterian Ministerial Association, of Philadelphia. Defalcations amounting to $20,000, together with a number of heavy losses, caused the suspension of the City National Bank at Williamsport, Pennsylvania. Charles R. Crocker, the California millionaire, was probably fatally injured in New York City by being thrown from his carriage. The village of East Lee, Mass., was inundated by the giving away of a dam at Mountain Lake. Eleven persons were drowned, and several factories were wrecked, including two paper-mills. The explosion of a lamp caused a fire which destroyed the Merchant Mill, valued at $150,000, at Harrisburg, Pa. The insurance aggregates $40,000. The rifle and sewing machine firm of E. Remington & Sons, at Ilion, N. Y., has placed its affairs in the hands of receivers. The new business building at New Lork, erected on the site of the old Theater Comique, was partially gutted by fire, several Irms losing large amounts. The police estimate the total loss at $100,000, but others place it as high as $750,000.
11.May 14, 1886The ColumbianBloomsburg, PA
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cer's. C.A. Bowers has been appointed receiver of the City National Bank of Williamsport. The official statement of the bank Is reported as follows : The total liabilities are $285,651, including deposits of $140,500, besides the capital stock of $100,000. The assetts include over $150,000 of bills discounted, $33,000 of bonds and premiums and $22,000 in real estate. The liabilities exceed the assets by $51,000. It is believed that depositors will receive twenty-five per cent. of the amount due them in a short time.
12.August 24, 1886New-York TribuneNew York, NY
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TWENTY THOUSAND DOLLARS SHORT. ARREST OF A BANK CASHIER IN PENNSYLVANIA. WILLIAMSPORT, Penn., Aug. 23 (Special).Boyd C. Caldwell, recently cashier of the City National Bank. was arrested last evening on a charge of embezzlement, the amount involved being $20.000. Caldwell is of one of the leading families in this city. His wife has been absent all summer visiting her parents at Columbus, Ohto. The City National Bank suspended some time ago and is now in the hands of a receiver. Its suspension was caused by a shortage of $50,000, of which $30,000 was traced to a former teller. The receiver engaged J. C. Anderson, a New York expert, to trace the additional deficiency, and after several weeks work his labors eutimitaded in the arreat of Caldwell. Cadiwell was committed to Williamsport jall and his ball will be fixed at $20,000.
13.August 25, 1886The ArgusRock Island, IL
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Article Text
Charged with Embezzling $20,000.
WILLIAMSPORT, Pa., Aug. 25.-The arrest of Boyd Caldwell, late cashier of the City National bank, on the charge of embezzling $20,000, has created great excitement. The Caldwells moved in the best society here.
An expert, in examining the books of the bank, which suspended some time since, discovered clever alterations covering the last two years. He lost the money in the Trout river oil fizzle.
14.April 16, 1887The Indianapolis JournalIndianapolis, IN
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General and Personal. Special to the Indianapolis Journal. WASHINGTON, April 15.-Major McGrain, of Corydon, lately appointed a special agent in the General Land Office, will likely be assigned to Colorado, with headquarters at Denver. John S. Lazarus, of Indianapolis, and Hon. R. B. F. Peirce, of Crawfordsville, registered at the Ebbit this morning. Minister Rufus Magee called on President Cleveland to-day, preparatory to departure to his official post of duty. John C. Sims has been appointed an internalrevenue storekeeper at Lawrenceburg. The President shook hands with 200 people this afternoon. Several persons in the crowd were recognized as old acquaintances. A veteran, in antiquated uniform, introduced himself as a survivor of the war of 1812. Two members of the California Legislature were among those presented. The value of the principal articles of provisions exported during March past aggregated $6,401,765, against $5,832,795 in March, 1886. The Comptroller of the Currency has declared a second dividend of 40 per cent. to the creditors of the City National Bank of Williamsport, Pa. This makes, in all, 90 per cent. paid to the creditors on claims proved amounting to $130,745.
15.April 22, 1887The Bolivar BulletinBolivar, TN
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THE WORLD AT LARGE. Summary of the Daily News. WASHINGTON NOTES. THE Commissioner of the Land Office has cancelled twenty-eight pre-emption entries and held for cancellation twenty-nine others in the Oberlin, Kan., land -district, upon evidence taken at a hearing before the register and receiver. The persons making the entries were alleged to be myths. SECRETARY WHITNEY is said to haveunder his consideration the organization of a naval reserve force, after the English plan. CONGRESSMAN SPRINGER presided at a meeting of Irish-Americans in Washington on the 14th to protest against coercion. THE Comptroller of the Currency has declared a second dividend of forty per cent. to the creditors of the City National Bank of Williamsport, Pa. This makes in all ninety per cent. paid to the creditors on claims proved, amounting to $130,341. IT was stated at both the State and Navy Departments that there was no truth in the dispatch from Key West that Commodore Green, of the United States steamer Yantic, officially forbade the English menof-war at Port Au Prince to carry out the threat of seizing Tortugas Island. Secretary Whitney never heard of such a thing until he saw the dispatch in a New York paper.
16.April 22, 1887The Iola RegisterIola, KS
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Article Text
# THE WORLD AT LARGE.
Summary of the Daily News.
WASHINGTON NOTES.
THE Commissioner of the Land Office has cancelled twenty-eight pre-emption entries and held for cancellation twenty-nine others in the Oberlin, Kan., land district, upon evidence taken at a hearing before the register and receiver. The persons making the entries were alleged to be myths.
SECRETARY WHITNEY is said to have under his consideration the organization of a naval reserve force, after the English plan.
CONGRESSMAN SPRINGER presided at a meeting of Irish-Americans in Washington on the 14th to protest against coercion.
THE Comptroller of the Currency has declared a second dividend of forty per cent. to the creditors of the City National Bank of Williamsport, Pa. This makes in all ninety per cent. paid to the creditors on claims proved, amounting to $130,341.
IT was stated at both the State and Navy Departments that there was no truth in the dispatch from Key West that Commodore Green, of the United States steamer Yantic, officially forbade the English men-of-war at Port Au Prince to carry out the threat of seizing Tortugas Island. Secretary Whitney never heard of such a thing until he saw the dispatch in a New York paper.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
