Article Text
In Hands of Receiver. The controller of the currency was advised today of the suspension of the First National Bank of Friendly, W. Va., with a capital of $25,000. R. D. Garrett has been appointed receiver.
First National Bank (Friendly, WV)
Episode Information
- Episode UID
581401303- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
-
58140national - Charter Number
- 5814
- Start Date
- July 27, 1908
- Location
- Friendly, West Virginia (39.516, -81.059)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
a89934d0ae99e77d
Response Measures
None
Receivership Details
- Depositor recovery rate
- 89.0%
- Date receivership started
- 1908-07-25
- Date receivership terminated
- 1911-05-01
- OCC cause of failure
- Fraud
- Share of assets assessed as good
- 16.5%
- Share of assets assessed as doubtful
- 50.4%
- Share of assets assessed as worthless
- 33.0%
Description
Later articles report the cashier E. L. Morgan convicted for misappropriation, indicating bank wrecked by internal fraud.
Events (4)
1.
May 15, 1901
Chartered
- Source
- historical_nic
2.
July 25, 1908
Receivership
- Source
- historical_nic
3.
July 27, 1908
Receivership
- Newspaper Excerpt
- R. D. Garrett has been appointed receiver.
- Source
- newspapers
4.
July 27, 1908
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Bank suspended and receiver appointed; later articles indicate cashier E. L. Morgan misappropriated funds and 'wrecked' the bank.
- Newspaper Excerpt
- The comptroller of the currency was advised today of the suspension of the First National bank of Friendly, W. Va., with a capital of $25,000. R. D. Garrett has been appointed receiver.
- Source
- newspapers
Newspaper Articles (14)
Click image to open full size in new tab
Click image to open full size in new tab
Article Text
Bank Was Suspended. Washington, July 27.-The comptroller of the currency was advised to-day of the suspension of the First National bank of Friendly, West Vs with a capital of $25.000. R. D. Garrett has been appointed receiver.
Click image to open full size in new tab
Article Text
RECEIVER FOR WEST VIRGINIA BANK. Washington. July 27.-The Controller of the Currency was advised to-day of the suspension of the First National Bank of Friendly, W. Va., with a capital of $25,000. R. D. Garrett has been appointed
Click image to open full size in new tab
Article Text
WEST VIRGINIA BANK SUSPENDS, Washington, July 27.-The comptroller of the currency was advised today of the suspension of the First National bank of Friendly, W. Va., with a capital of $25,000. R. D. Garrett has been appointed receiver.
Click image to open full size in new tab
Article Text
National Bank Suspends WASHINGTON, July 27.-The comp- troller of the currency was advised today of the suspension of the First National bank of Friendly, W. Va., with a capital of $25,000.
Click image to open full size in new tab
Article Text
BANK SUSPENDED. Washington, July 27.-The First National Bank of Friendly, W. Va., with a capital of $25,000, suspended today. R. S. Garrett is receiver.
Click image to open full size in new tab
Article Text
West Virginia Bank Suspends. WASHINGTON July 27.-The comptroller of the currency was advised today of the suspension of the First National bank of Friendly, W. Va., with a capital of $26,000. R. D. Garrett was appointed receiver.
Click image to open full size in new tab
Article Text
NATIONAL BANK BROKE. Washington, July 27.-The comptroller of the currency was advised today of the suspension of the First National bank of Friendly, W. Va., with a capital of $25,000.
Click image to open full size in new tab
Article Text
Friendly Bank Suspends. Washington D. C., July 29.-The comptroller of the currency was advised today of the suspension of the First National bank of Friendly, W. Va., with a capital of $25,000.
Click image to open full size in new tab
Article Text
FRIENDLY BANK GOES TO THE WALL Comptroller of the Currency at Washington is Thus Advised. WASHINGTON, D. C., July 27The Comptroller of the Currency was advised today of the suspension of the First National Bank, of Friendly, W. Va., with a capital of $25,000.
Click image to open full size in new tab
Article Text
Senor Creel, the Mexican ambassador, has presented to the state department a strong appeal from the Mexican government to that of the United States for the latter's co-operation in the work of suppressing bands of revolutionists which for a number of weeks have been making raids on Mexican territory, from the American side of the line. It is probable that additional American troops will be stationed along the borden, and in the meanwhile the governors of Texas and Arizona are being urged to redouble their exertions to prevent a recurrence of such raids. The comptroller of the currency was advised of the suspension of the First National bank of Friendly, W. Va., with a capital of $25,000. R. D. Garrett has been appointed receiver. Assistant Secretary of State Bacon has left Washington for San Juan, P. R., to make an investigation into the holding of certain property by the United States which has been in dispute between the government and the Catholic church. The sultan of Turkey, through the Turkish consul-general at New York, Mundji Dey, has proclaimed general amnesty to all political fugitives, regardless of race, in this country. This relates to about 200,000 Armenians and others in the United States. From the summer headquarters of the Italian embassy in Massachusetts, Baron Mayor des Planches, in a note to the state department regarding the recent occurrences at Natalbany, La., where there has been a clash in which Italians were involved, expresses the hope that everything will be done to insure the due course of law and order. The ambassador's note has been referred to the solicitor's office of the state department for appropriate action. The United States cable ship Burnside, sailed from Seattle for Manila to repair the government cables, work to commence with the Cordova loop of the Valdez Seward cable.
Click image to open full size in new tab
Article Text
RECEIVER SUES ON NINE NOTES. Prominent Men Defendants in Civil Action By Receiver of Defunct Bank. PARKERSBURG, W. Va., Dec. 2.Receiver Garrett, of the defunct First National Bank, of Friendly, W. Va., the bank alleged to have been wrecked by Cashier E. L. Morgan now in jail here has instituted suits in the United States district courts on nine promissory notes ranging in amounts from $200 to $2,000. The af. fairs of the defunct bank are to be wound up at once. The defendants of the suits are all prominent residents of this section of the State.
Click image to open full size in new tab
Article Text
Five Years In Prison. Parkersburg, W. Va., January 14.-Elbert L. Morgan, charged with wrecking the Friendly, W. Va., First National bank, was sentenced to five years in prison here this afternoon. The indictment against Morgan charged him with misappropriating $5000. The bank of which he was the cashier is now in the hands of a receiver.
Click image to open full size in new tab
Article Text
Elbert L. Morgan charged with wrecking the Friendley, W. Va., First to National Bank, was sentenced five years in the State penitentiary by Judge A. G. Dayton in the UnitLed States Court at Parkersburg, W. Va. The indictment against Morgan charged him with misappropriating $5,000. The bank of which he was the cashier is now in the hands of a receiver.