Article Text
West Virginia Bank Closes. Washington, Feb. 2.-The Traders' National Bank of Clarksburg, W. Va., has been closed by order of the Comptroller of the Currency and National Bank Examiner C. W.Robinson has been appointed temporary receiver.
Traders National Bank (Clarksburg, WV)
Episode Information
- Episode UID
456901250- Episode Type
- Suspension → Reopening
- Bank Type
- national
- Bank ID
-
45690national - Charter Number
- 4569
- Start Date
- February 2, 1904
- Location
- Clarksburg, West Virginia (39.281, -80.345)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
9564cfdb6cef85d6
Response Measures
None
Description
Closure ordered by the Comptroller; articles cite poor investments and suits involving the president as underlying causes.
Events (5)
1.
May 9, 1891
Chartered
- Source
- historical_nic
2.
February 2, 1904
Receivership
- Newspaper Excerpt
- National Bank Examiner C. W. Robinson has been appointed temporary receiver.
- Source
- newspapers
3.
February 2, 1904
Suspension
- Cause
- Government Action
- Cause Details
- Closed by order of the Comptroller of the Currency due to lack of available assets; reports cite poor investments and suits involving the bank's president.
- Newspaper Excerpt
- The Traders' National Bank of Clarksburg, W. Va., has been closed by order of the Comptroller of the Currency
- Source
- newspapers
4.
April 13, 1904
Reopening
- Newspaper Excerpt
- The Traders National Bank ... opened for business Wednesday morning under a strong reorganization and a capital stock of $200,000.
- Source
- newspapers
5.
April 10, 1905
Voluntary Liquidation
- Source
- historical_nic
Newspaper Articles (20)
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Article Text
BANK CLOSED. Washington, Feb. 2.-The Traders National bank of Clarksburg, W. Va., has been closed by order of the comptroller of the currency. and National Bank Examiner C. L. Robinson has been appointed temporary receiver.
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Bank Ordered Closed. Clarksburg, W. Va., Feb. 2.-The Traders' National bank, the largest bank in this city, has been closed by order of the comptroller of the currency and a national bank examiner has been appointed temporary receiver. Assets are a million and a quarter. It is thought the bank will resume business. No statement of its condition has been made.
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WEST VIRGINIA BANK CLOSES ITS DOORS The Traders' National Bank of Clarksburg, W. Va., has closed its doors and the Comptroller of Currency has appointed National Bank Examiner Charles W. Robinson receiver.
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Were Poor Investments. Clarksburg, W. V.. Feb. 2.-The cause assigned for the failure of the Traders' National Bank here to-day is lack of available assets, but the real reason stated by those supposed to be informed, is investments in enterprises of large magnitude which have so far realized no returns. Bankruptcy proceedings against the Jackson Iron and Tin Plate mill and large suits against Moore Jackson, president of both the tin plate mill and the Traders' Bank, played a prominent part in the failure.
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Clarksburg Bank Fails. Clarksburg, W. Va., Feb. 3.-The Traders' National bank, the largest bank in this city has been closed by order of the comptroller of the cur rency, and a national bank examiner has been appointed temporary receiver Assets, $1,125,'000. It is thought that the bank will resume business. No statement of its condition has been made.
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Clarksburg Bank Fails. Clarksburg, W. Va., Feb. 3.-The Traders' National bank, the largest bank in this city has been closed by order of the comptroller of the cur rency, and a national bank examiner has been appointed temporary receiver Assets, $1,125,'000. It is thought that the bank will resume business. No statement of its condition has been made.
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Clarksburg Bank Fails. Clarksburg, W. Va., Feb. 3.-The Traders' National bank, the largest bank in this city has been closed by order of the comptroller of the cur rency, and a national bank examiner has been appointed temporary receiver Assets, $1,125, '000. It is thought that the bank will resume business. No statement of its condition has been made.
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Article Text
Clarksburg Bank Fails. Clarksburg, W. Va., Feb. 3.-The Traders' National bank, the largest bank in this city has been closed by order of the comptroller of the cur rency, and a national bank examiner has been appointed temporary receiver Assets, $1,125,'000. It is thought that the bank will resume business. No statement of its condition has been made.
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Article Text
Clarksburg Bank Fails. Clarksburg, W. Va., Feb. 3.-The Traders' National bank, the largest bank in this city has been closed by order of the comptroller of the cur rency, and a national bank examiner has been appointed temporary receiver Assets, $1,125,000. It is thought that the bank will resume business. No statement of its condition has been made.
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CLARKSBURG, W. VA., FEB. 8, 1901. RE-OPEN THE TRADERS. Attempts to prejudice the public against any one on account of the Trad ers National Bank, whose doors are tem. porarily closed, show to what depths of meanness some persons will go and just how unprincipled they are. There are some who are always glad to take advantage of the misfortune of others to promote their own selfish interests, although they have to stoop so low as to he utterly contemptible. It is this class that does not want the Traders to reopen simply because they think it is a personal advantage to them. Little they care for the community. Little they care about one of the most important and popular institutions of the city. But it is a real gratification to know that the business men in general, including the bankers who are competitors of the Traders, are hopeful that the bank will soon be on its feet again with its doors open to do business. It is not SO much the interests of the bank they care for in this particular as it is for the good of the community. All liberal and fair-minded business men recognize the fact that the reopening of the bank would be far better for the commercial interests of this section than if it were to go out of existence. That alone is sufficient reason why they should hold such a desire. Again, there are but few men who are 80 designing as to wish the numerous depositors of that bank to losc their deposits or any part of them, nor is there any desire that the stockholders should lose. Either event would be detrimental to the financial credit of Clarksburg and bring not only hardship to those immediately concerned but to the entire community as well. Under such conditions and circumstances the Telegram has no patience with the few who have personal spites that prompt them at this critical time this to prejudice the people against not only other financial institutions. They could be engaged in a better business than that of arraying people agains! banks. Their conduct would be more commendable if they were making efforts to uphold the public confidence an I trying to allay suspicion and avert a possible panic in money affairs in Clarks burg. In this connection the Telegram feels that it must reiterate the general desire for the re-organization and re-opening of the Traders, and it with the public will welcome the day when that is necomplished. That day is not far distant, if present efforts in that direction are successful and the best information at this time is that very good progress is baing made in that direction.
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Bank Closes; May Resume. The Traders' National Bank of Clarksburg, W. Va., has been closed by order of the Comptroller of the Currency and Charles W. Robinson has been appointed temporary receiver. It is the largest bank in the city. The assets are $1,250,000. It is thought the bank will resume business.
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People here who are interested at Clarksburg were sorry to hear of the suspension of the Trader's National Bank but they do not think that the suspension will last very long.
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nouncement. The efforts to reorganize, which are 80 full of promise, certainly meet with the approbation of every man who has the financial and commercial interests of the county at heart, and it is a testimonial of the strongest type of the confidence the business public has in the commercial and industrial features of this seetion of the State. It is an achievement that will not only restore fully the standing Clarksburg had in the financial world, but strengthens that standing. A business that not only recovers from an embarrassment, but widens its infifluence and makes itself larger is certainly one that has made itself stronger and one that brings triumph to its neighborhood. That the closing of the bank affected business in large degree there are none to deny and that it brought gloom over thecommunity there is not the slightest question, and, were it not for other fortunate situations, and more particularly had it not been for the assurance that the bank would resume, conditions would have been bad in a commercial way and there would have been considerable more stagnation, but every one had faith in the ultimate and exercising that faith those who were dependent in business ways upon the institution went patiently along the best they knew how and did the best they could. In this they did most remarkably and there was, so far as is known, remarkable recuperation and quite speedy at that. But with all this perseverance and extra effort, failure to have reopened the institution, which for years was among the leading of its kind in the county and even in the State, would have brought on injury that would have been keenly felt for years to come. All in all, the day the stockholders met and decided to increase the capital stock and reorganize the bank marks an important movement in the history of Clarksburg and there are none who do not rejoice over the events of that day and who do not earnestly desire that the plans formulated may not be suecessfully carried out. There is behind the reorganization men of means, splendid business sense, and conservative and safe methods. They are men whose identification with any business enterprise or financial institution guarantees safety, and in the case of the Traders, there is every assurance that its future will be eminently successful and that depositors can well feel that their deposits are perfectly safe, and the business public will have that confidence essential to the success of the institution.
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Mrs. H. S. Whetsell and baby are at Aurora this week visiting her old home. Dr. Jennings M. King is at Buckhannon again this week on account of the critical illness of his mother. Miss Frances Ann Parsons, who clerks in the Argus Book Store, went to Morgantown last Saturday to spend a week visiting her parents. Ira Claud Gibson, who has been running a drug store out at Enterprise for some time, has been' here this week to apply for license to conduct a drug store in Kingwood after May Ist. The unveiling of Bailey Brown's monument at Grafton will take place on April 28th. Although history does not record it, Mr. Brown was the first man killed in the Civil War. The services will be attended by the G. A. R. and the Cadets of the W. V. U. He was born and raised in Preston county. The stockholders of the Traders' National Bank of Clarksburg, which was closed February 2nd by order of the comptroller of the currency, held a meeting last week. It was decided to organize the institution and resume business. A board of directors was elected and officers elected by them. The capital stock was increased from $85,000 to $200,000. The proposition will be sent to Washington immediately, and it is believed will be approved, which will mean the opening of the bank about the fifteenth of April, The bank had about $975,000 on deposit when it closed.
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TRADERS BANK REOPENS UNDER REORGANIZATION Deposits First Day Amount to More Than Three Times as Much as the Aggregate Sum Checked Out -Future of Institution is Bright. The Traders National Bank, which was February 2, by order of the CompSERIOUS troller of the Currency, opened for business Wednesday morning under a strong reorganization and a capital stock of CHARGE PREFERRED AGAINST ED. $200,000. an increase of $115,000. BUTCHER BY BERTHA SHRIEVE, The officers of the bank are W. Brent AN EIGHTEEN-YEAR-OLD GIRL, Maxwell, president; P. M. Robinson, vice EMPLOYED AT DEISON HOUSE. president, and S. H. White, cashier. The board of directors is composed of W She Accuses Him of Criminally AssaultBrent Maxwell, John L. Ruhl, C. S. ing Her On the Weston Road Monday Smiley, James F. Allen, Millard F. Sni: Night-Butcher Arrested and Jailed der L. L. Loar, Edward R. Davis, Ira to Await Trial. E. Robinson Porter Maxwell, Lee Bog. gess and P. M. Robinson. Ed. Butcher. a young man of this city, The bank opened with Vice President is in jail awaiting trial on a serious Robinson and Cashier White in charge charge. He is accused of criminally asand the employes of the bank retained saulting Bertha Shrieve, a girl eighteen are Richard Farland, teller; B. W. Bag. years of age, employed as a domestic at gess and Pearl Holden. bookkeepers and the Deison house. She appeared before Miss Carrie Fordyce, stenographer. Magistrate Riley and caused the warrant The opening was under auspicious cirto be issued. Butcher was arrested on cumstances and at the close of the day Second street Wednesday morning by more than three times as much money Con-table Edgell and placed in jail to had been deposited as was checked out await trial. and there was every sign of restored The Shrieve girl says Butcher took confidence. her out riding in a buggy Monday even The resumption of business by that in ing. They drove out the Weston road stitution in so short a time is hailedand in a secluded spot, she claims he with delight by many of the business overpowered her and then committed men of the county and is an evidence of the assault. what masterly achievements the business men of this community are capable of. That the institution will have a BURGLAR bright and prosperous future and be of great service in promoting the commerFATALLY SHOT cial and industrial interests of the county there is no shadow of doubt. Receiver Robinson Talks. By a Wheeling Officer As Latter Caught When seen by a representative of the Him Burglarizing a Confectionary Store. elegram Wednesday, Mr. Robinson said "The closing of the Traders National By Associated Press. Bank was one of the unpleasant duties incident to the position of a National Wheeling, W. Va. April 13-William Bank Examiner. It was a duty I was Conners was fatally shot this morning obliged to perform. Every act of the at an early hour by Officer Woodward, Comptroller of the Currency, and myself as Conners was trying to burglarize a as a representative of his office, has been confectionary store. Connors had just arrived from Louisville. in the interest of the depositor and I am glad to state that all depositors will be paid in full with legal interest. "I desire to thank the debtors to the SCHMULBACH bank, who responded so promptly to my call for what was due the bank. The May Be One of the "Big Four" From This fact that L pressed payment and the State to the Republican National Convention. public responded to the amount of $300.000 enabled the bank to reorganize and open. The receiver does not collect on By Associated Press. per centage, as some people think. Not Charleston, W. Va., April 13 - It is a suit was bronght, not a business susnow conceded that Senators Elkins and pension resulted from my persistent ef Scott and J.T. Caldwell. of Huntington, forts to collect. I was careful to hurt will be three of the delegates-at-large to no one. but always anxious to protect the National Republican convention. There is a nice contest for fourth every interest of the depositor. "I leave the bank in good hands and place between Governor White and Unit with available funds to meet any deed States District Attorney Atkinson: 1 mands that will be made upon it. with the possibility of Col. H. Schmul am glad of the reopening of the bank bach. of Wheeling, beating them both. and leave your city for Pennsylvania Senator Scott will probably be tempor to engage in my work as Examiner. ary chairman and deliver the key note "I want to thank the press of the city of the campaign in his speech to-mor for the very considerate way in which row when the convention assembles, they have spoken of the bank during GRAND BALL AND SOCIAL. the receivership, and the uniform cour teous treatment to me personally." This is the night for the grand ball
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West Virginia Bank May Reopen. The controller of the currency has authorized the Traders' National Bank of Clarksburg, W. Va., to reopen for business. This bank suspended February 2. The board of directors has been reorganized and increased, and the stockholders have authorized an increase in the capital of the bank to $200,000, which increase has been paid in full. The controller states that the bank is now in a perfectly solvent condition, with an unimpaired capital, and resumes business under most favorable aupices
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When seen by a representative of the Leiegram Wednesday, Mr. Robinson said "The closing of the Traders National Bank was one of the unpleasant duties incident to the position of a National Bank Examiner. It was a duty I was obliged to perform. Every act of the Comptroller of the Currency, and myself as a representative of his office, has been in the interest of the depositor and I am glad to state that all depositors will be paid in full with legal interest. "I desire to thank the debtors to the bank, who responded so promptly to my call for what was due the bank. The fact that I pressed payment and the public responded to the amount of $300,000 enabled the bank to reorganize and open. The receiver does not collect on per centage, as some people think. Not a suit was brought. not a business suspension resulted from my persistent ef. forts to collect. I was careful to hurt no one, but always anxious to protect every interest of the depositor. "I leave the bank in good hands and with available funds to meet any deI mands that will be made upon it. am glad of the reopening of the bank and leave your city for Pennsylvania to engage in my work as Examiner. "I want to thank the press of the city for the very considerate way in which they have spoken of the bank during the receivership. and the uniform courteous treatment to me personally."
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Bank Allowed to Reopen. Washington, April 14.-The comptroller of the currency authorized the Traders' national bank of Clarksburg, W. Va., to reopen for business. This bank suspended February 2, 1904.
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Clarksburg Bank to Reopen. The Comptroller of the Currency authorized the Traders National bank of Clarksburg, W. Va., to reopen for business. This bank suspended February 2, 1904. The board of directors has been reorganized and increased and the stockholders have authorized an increase in the capital of the bank to $200,000, which increase has been paid in full. The comptroller states that the bank is now in a perfectly solvent condition.