Produce National Bank (Philadelphia, PA)

Episode Information

Episode UID
350701104
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
35070 national
Charter Number
3507
Start Date
December 16, 1891
Location
Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2754ee9170cbcfc4

Response Measures

None

Events (4)

1. May 19, 1886 Chartered
Source
historical_nic
2. December 8, 1891 Voluntary Liquidation
Source
historical_nic
3. December 16, 1891 Suspension
Cause
Voluntary Liquidation
Cause Details
Stockholders voted by two-thirds to liquidate the business; voluntary winding up.
Newspaper Excerpt
At a meeting of the stockholders of the Produce National Bank of Philadelphia, it was decided by a two-thirds vote to liquiddate the business of the institution.
Source
newspapers
4. January 1, 1892 Suspension
Cause
Voluntary Liquidation
Cause Details
Bank closed operations and paid liabilities as part of liquidation.
Newspaper Excerpt
The Philadelphia Produce National Bank closes, paying all liabilities.
Source
newspapers

Newspaper Articles (2)

Article from New Ulm Weekly Review, December 16, 1891

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Article Text

OTHERWISE. The Democratic national convention will decide upon the convention city Jan. 23. An oil well has just been drilled in Wayne county, Kentucky, which is producing 1,200 barrels a day of lubricating oil. Gov. Francis has decided to call an extra session of the Missouri legislature Jan, 15, 1892, for the purpose of redistricting the state. The Chicago University is likely to lose little if any of the Ogden bequest, says President Harper, who has just returned from New York. Attorney General Stockton of New Jersey, in the Bolton divorce case, gives an opinion to the effect that the South Dakota divorce law is valid. At a meeting of the stockholders of the Produce National Bank of Philadelphia, it was decided by a two-thirds vote to liquiddate the business of the institution, State Senator Durban, of Wyoming, says that rustlers have ruined the cattle business in that state, and that a war of extermination is likely to soon be begun against the thieves by ranchmen. Adolph A. Pier, a resident of San Francisco is missing. He left New York Sept. 30, and a letter dated Philadelphia was received from him shortly after he saying was going to Chicago. Since then nothing has been heard from him. The North American Beekeepers Association has elected officers as follows: President, Eugene Secor, of Forest City, Ohio; vice-president, Capt. Herrington, of Cherry Valley, N. Y.; secretary, W. Z. Hutchinson, of Flint, Mich.; treasurer, E. Root, of Medina, Ohio. William H. Ransom and Maurice S. Ransom, composing the firm of Ransom & Co., New York dealers in wrought iron pipes, assigned to Louis M. Fulton, with preferences to Spang. Chalfant & Co., of Pittsburg, Pa., John Regan, of New York city, Timothy Keely and Wills & Contan Company. Comptroller of the Currency Lacy hacy has instructed Gen. B. F. Fisher, receiver of the Spring Garden National Bank of Philadelphia, to make an assessment equal to the capital stock on the shareholders of the bank. The capital stock was $750,000, and if all the assessments are collected, $750,000 will be thus raised to pay off the indebtedness of the concern. The par value of the stock was $100 per share. The_ house of representatives of South Carolina, by a vote of 59 to 27, passed an act making the first Monday in September (Labor Day) a legal holiday; but attached a rider on it providing that the act shall not be construed so as to conflict with judicial sales and other legal transactions. The bill was advocated by the American Federation of Labor.


Article from Pittsburg Dispatch, January 1, 1892

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Article Text

DECEMBER. 1—Window glass makers of Pennsylvania, Ohio and Indiana form a permanent organization, with C. J. McKee and William Loffleer as the Pennsylvania members of the Executive Committee. Andrew Carnegie responds to the toast, "The Scotch American," at the New York banquet of the St. Andrew's Society. Six daring train robbers held up and robbed an express car near St. Louis of $75,000. Francisco Hernandez, who robbed the paymaster of the Eleventh Battalion of the Mexican army in Chihuahua, Mexico, and killed a policeman in escaping, has been captured at El Paso, Texas, extradited, and will be shot. George F. Barr, of Springfield, Mass., shot and killed his wife and himself. The Grand Hotel at Leadville, Col., was burned to the ground. The pottery works of A. H. Hewes & Co., North Cambridge, Mass., were burned; loss, $45,000. Hasting & Diment's rolling mill at Owatonna, was burned; loss, $40,000. The Brazilian Minister of Foreign Affairs says there is no disorder in Rio Grande do Sul. The Italian budget for 1892 will show a surplus of 9,000,000 lire. 2—The Cooper-Hewitt iron works are secured by a big British-American syndicate with $5,000,000. Edward Field now charged with deliberate robbery of his partners. The armored cruiser New York launched in Philadelphia. United States Treasurer E. H. Nebeker publishes his annual report. Three persons killed at Cumberland, Md., by a coal oil explosion. Dynamite works at Nyack-on-the-Hudson explode, killing five men. "Land Bill" Allen, who died in the poorhouse, is buried from the State House at Columbus. Trade returns of Canada speak well for the McKinley act. In London, Earl Russell, the defendant in the unsavory divorce case, is hissed, jeered and hustled by the mob. Parnellites and McCarthyites in collision at Limerick. 3—The President will not order a Federal investigation of the Bardsley defalcation and no further revelations are probable. Minneapolis begins a Russian relief movement by contributing a shipload of flour. Commodore Folger, Chief of the Bureau of Ordnance, United States Navy, makes his report to the Secretary of the Navy showing good work for the year. Three men killed and eight seriously injured in a wreck on the Philadelphia and Reading Railroad at Pennington, N. J. The London mob again eager to hustle Earl Russell, and the aristocracy disgusted with him. Several victories reported over Chinese rebels. 4—An unknown lunatic, who demands $1,200,000, explodes a bomb in the office of Russell Sage in New York, killing himself and another man, slightly injuring Sage and wounding half a dozen others and shattering the walls of the building; a panic caused. Falling walls in St. Paul crush many workmen. A dozen brick-laden barges sink in the Hudson, drowning a score of men. A collision of trains on the New England Railroad at East Thompson, Conn., to which fire adds deadly work, kills seven men and injures more. The Cumberland Valley swept by a cyclone; houses and churches destroyed. Earl Russell wins in the London divorce suit. France said to be acting for Russia in seeking to commit other powers against China. 5—Russell Sage nearly recovered from shock and slight wounds. Timothy Byrnes, prominent politician at Minneapolis, indicted for forgery. Cotton mill fire at Des Moines causes $150,000. Ex-Governor Beaver's iron and nail mill at Bellefonte temporarily closed down. Secretary Proctor leaves the War Department. Emperor William's despotic speech to the recruits at Potsdam still rousing German ire. The Czar has appointed a central famine relief committee. Welsh tin plate workers incensed by the proposed shutdown. British manufacturers complain because the Royal Commission charges for space at the World's Fair. 6—Various speculations as to the identity of Sage's would-be assassin, whose head at the morgue remains unrecognized. Arrests of supposed accessories. A queer crank who tried to extort money from a friend by written threats, is caged in New York. A music publishing company burned out in Philadelphia; loss, $200,000. Dom Pedro's death meets with no official recognition in Brazil. Some of the Chinese rebels and bad characters generally are beheaded by the Emperor's orders. A fire damp explosion at St. Etienne, France, kills 80 miners. 7—Loppy, the brutal wife, murderer executed by electricity at Sing Sing Prison. A gas explosion in a steel plant near Baltimore kills four men and causes great damage. Ex-Governor Beaver the largest creditor of the suspended Bellefonte Iron Works, and will pay all debts. Lady Henry Somerset speaks before Sorosis, New York, on woman's work for reform. Trade improving; nearly 100 new enterprises started in one week. Many shipwrecks on the English channel; 24 men of one crew drowned. 8—Many Steubenville people down with typhoid caused by the polluted Ohio. Steel rail manufacturers assembled in New York have total orders on hand for 600,000 tons, or triple the demand of last year. A crank who demanded $1,000,000 in Alton, Ill., kicked out doors. D. H. Parker commits suicide in Cairo, Ill. The Philadelphia Produce National Bank closes, paying all liabilities. The Tilden will case settled. Sawtelle confesses that he killed his brother, but in Maine, where is no capital punishment. Chile claims to have just provocation for her enmity to the United States. Autumn crops in Russia are damaged and will prolong distress. A crisis approaching in the Brazilian State of Rio Janeiro; insurgents arming for attack on the Government. The Chinese rebel leader captured. 9—The President's message given to Congress. Secretary Foster's report presented. Twelve deaths by fire in Louisville. Boston excited over faith cures at the Triduum held in the Roxbury Mission Church. Americans, Poles and Huns engage in a race war at Shenandoah with fatal result. Talton Hall, a desperado who claims to have killed 99 men, arrested at Memphis. It transpires that the Chilean House of Representatives wanted to recall her legation from the United States, but the Government defeated the scheme. In the London divorce sensation Marius, husband of Miss St. John, admits the charges and makes counter-charges. 10—Kit Carson's son kills his wife's father and mother and flees from a Sheriff's posse in Colorado. Ground broken for the Pan-American Railroad at Victoria, Tex. The trial of Dr. Graves for the poisoning of Mrs. Barnaby at Denver reveals enough arsenic in the bottle of whisky he sent her to kill scores of people. French Republicans make a party combination against Clericals. Von Caprivi declares Germany independent of the United States in the matter of trade. A battle fought in the State of Rio Janeiro and the Government taking steps to prevent an uprising in the city. 11—Strikers bombard with dynamite a mine at Brazil, Ind., which had locked them out, and compel a shutdown. Mrs. Chas. Bliss, of East Maine, N. Y., dies from fright in a wagon while her horses run away. The New York bombiter identified as Henry L. Norcross, of Boston, who was not supposed to be a crank or crazy. Chicago to ask for $5,000,000 more for the World's Fair. England's rural conference is a gathering of Radicals displaying much hostility to land owners and the clergy. Royalty asks for another dowry. Chileans, and the American colony, too, reported indignant against President Harrison's message. The ecclesiastical controversy causes a great disturbance in the French Chamber of Deputies. 12—Identification of Norcross as the dead bombiter who sought to kill Russell Sage, is made positive. Boodlers go free in San Francisco because there is no legal grand jury. Count Montercole, the former husband of Virginia Knox, declared insane in Philadelphia. Senator