National Bank (Barnesville, OH)

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Episode Information

Episode UID
662101487
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
66210 national
Charter Number
6621
Start Date
November 14, 1923
Location
Barnesville, Ohio (39.988, -81.176)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
67ddfdf31d465583

Response Measures

None

Receivership Details

Depositor recovery rate
54.1%
Date receivership started
1923-11-14
Date receivership terminated
1929-10-31
OCC cause of failure
Fraud
Share of assets assessed as good
44.3%
Share of assets assessed as doubtful
5.2%
Share of assets assessed as worthless
50.5%

Description

Closure followed discovery of large shortage after the cashier's death.

Events (4)
1. February 11, 1903 Chartered
Source
historical_nic
2. November 14, 1923 Receivership
Source
historical_nic
3. November 14, 1923 Suspension
Cause
Government Action
Cause Details
Closed by federal bank examiners pending investigation after discovery of problems in cashier's accounts; no run reported.
Newspaper Excerpt
Federal bank examiners today closed the National Bank of Barnesville pending an investigation into the affairs of the bank.
Source
newspapers
4. November 16, 1923 Receivership
Newspaper Excerpt
William P. Hastings of Marietta, O., was today named as receiver for the National Bank of Barnesville, which was closed this week when a shortage estimated at a $500,000 was discovered in the cashier's accounts.
Source
newspapers

Newspaper Articles (9)
1. November 14, 1923 Chillicothe Gazette Chillicothe, OH
Article from Chillicothe Gazette, November 14, 1923

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Article Text

BARNESVILLE BANK CLOSES DOWN Barnesville, O., Nov. 14—(By Associated Press)—Federal bank examiners today closed the National Bank of Barnesville pending an investigation into the affairs of the bank. When customers went to the bank at the usual opening hour this morning they found a notice on the door saying the institution had been closed. O. C. Norris cashier of the bank died last Wednesday. The national bank examiner, who was going over the books today said that until a complete examination is made, no statement will be made. There was no run on the bank. Banks in St. Clairsville, Wheeling and Bellaire said they stood ready to furnish any amount to other banks here, if necessary. The bank is capitalized at $100,000 has a surplus of $60,000 Loans of 800,000 and deposits of $950,000.

2. November 17, 1923 The Plain Dealer Cleveland, OH
Article from The Plain Dealer, November 17, 1923

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Article Text

NAMED BANK RECEIVER. Marietta (O.) Man Will Take Charge of Barnesville (O.) Institution. BARNESVILLE, O., Nov. 16.—William P. Hastings of Marietta, O., was today named as receiver for the National Bank of Barnesville, which was closed this week when a shortage estimated at a $500,000 was discovered in the cashier's accounts. Mr. Hastings will arrive tomorrow to take charge. Eagles Spent $2,564 in Election. COLUMBUS, O., Nov. 16.—The Fraternal Order of Eagles spent $2,564.25 in the campaign to obtain voters' approval of the old age pension bill, according to a statement filed today with the secretary of state by the treasurer of the order. The money was raised by per capita levy on the subordinate lodges of the state. The bill was overwhelmingly defeated. May Deport War Vet's Wife. MARTINS FERRY, O., Nov. 16.—Mrs. Ralph Ferrari, wife of a World War service man here, may be deported. Ferrari married in Italy a few years after returning with the A. E. F. contingent. Immigration authorities say she was illegally admitted. Bandits Blast Bank Safe. HOLCOMBE, Wis., Nov. 16.—With the aid of acetylene torches bandits early today forced entry to the vault and safe of the State Bank of Holcombe and escaped with $2,000 in cash and $1,300 in negotiable bonds. Falls Against Saw, Killed. STEUBENVILLE, O., Nov. 16.—Oscar Pupple, 55, was instantly killed at the carpenter shop of the Jefferson Coal Co. at Piney Fork, O., when he fell against a circular saw which was in motion. His widow and six children survive. NILES, O., Nov. 16.—While M. B. Bunyan and his wife, employes of the Atlas China Co. here were at work this afternoon, fire destroyed their home and its furnishings. Their loss is estimated at $4,000.

3. January 7, 1924 Pittsburgh Post-Gazette Pittsburgh, PA
Article from Pittsburgh Post-Gazette, January 7, 1924

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Article Text

BANK FAILURE CLOSES FOUR SCHOOLS IN OHIO Education Funds Wiped Out in Crash, Unpaid Teachers Throw Up Jobs In Kirkwood Township—Others May Quit. [Special Telegram to The Gazette Times.] HENDRYSBURG, O., Jan. 6.—Four of the 10 schools in Kirkwood township are closed as a result of the failure of the National Bank of Barnesville, and teachers are quitting rather than continue without any assurance of receiving their wages. The township school district had $3,700 in the bank when it failed last November. The bank failed for over $700,000 following the death of Cashier O. P. Norris. In addition there was $25,000 in the bank from the sale of bonds for a new schoolhouse in Hendrysburg. With this money gone and no payments by the Federal bank receiver to depositors, the schools lacked funds to run through December. But later the Board of Education borrowed the money as an advance on the tax collection to be received in February. With this loan teachers were paid to January 1. At that time three presented resignations, which were accepted. They were J. C. Ayers of Hendrysburg, teacher at the Lick Run School; Miss Frances Healey of Barnesville, teacher at Egypt, and Miss Elizabeth Cook of Barnesville, who taught at Oak Hill. After the holidays Carl Ricketts of Logan county failed to return to the Sewellville School.

4. July 20, 1924 The Plain Dealer Cleveland, OH
Article from The Plain Dealer, July 20, 1924

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Article Text

BANK'S RECEIVER TO PAY Will Distribute Dividend to Depositors of Barnesville Institution. (Plain Dealer Special) BARNESVILLE, O., July 19.—Checks for a 30 per cent. dividend to depositors in the defunct National bank of Barnesville, which closed last November, are now in Washington, awaiting the signature of the United States comptroller of currency. The checks were prepared by the receiver's clerical force last week and will be distributed shortly. The bank was closed a week after the death of Cashier O. P. Norris, when it was discovered that approximately $700,000 worth of the bank's assets had been dissipated. Another dividend equally as large is expected before the bank's affairs are finally settled.

5. September 20, 1924 The Piqua Daily Call Piqua, OH
Article from The Piqua Daily Call, September 20, 1924

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Article Text

SEEKS TO COLLECT OFF DEFUNCT BANK Receiver of Barnesville Institution Presents Big Bill For Payment. Columbus, O., Sept. 20—William Hastings, receiver, has filed suit in court here to collect an alleged deficit of $626,675.46 from the directors of the defunct National bank of Barnesville. The bank was thrown into receivership in November last year shortly after O. P. Norris, cashier, committed suicide. Examiners uncovered a shortage in Norris' accounts. According to the petition on file in federal court the embezzlements, which were over a long period, would never have been possible had the bank directors used ordinary care and prudence. Hastings charges the bank was operated "illegally, wrongfully and negligently."

6. September 21, 1924 The Coshocton Tribune Coshocton, OH
Article from The Coshocton Tribune, September 21, 1924

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Article Text

Bank Receiver Asks Directors Be Made to Pay COLUMBUS, Sept. 29—William T. Hastings, receiver of the insolvent national bank of Barnesville, O., had on file in federal court here today a petition to recover a $626,675.46 deficit from the directors. Hastings charged that embezzlements by the cashier, O. P. Norris, who it was claimed, committed suicide November 4, last, were effected over a long period of time. He said the defalcations would have been thwarted had the directors exercised "ordinary care and prudence." Named as defendants were: J. J. Kirk, president; I. B. McKeever, vice president; W. O. Chappell, J. W. Judkins, P. B. Worthington, J. B. Giffee and J. W. Doudna, residents of Barnesville and Belmont-co; Virginia Ely and Lucretia Wood Ely, Belmont-co, administratrixes of Ernest Ely estate, D. H. Mott and H. F. Wilson, Buffalo, executors of will of G. E. Hunt.

7. September 21, 1925 The Coshocton Tribune Coshocton, OH
Article from The Coshocton Tribune, September 21, 1925

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Article Text

Bank Receiver Asks Directors Be Made to Pay COLUMBUS. Sept. 20 -William T. Hastings. receiver of the insolvent national bank of Barnesville, O. had on file in federal court here today a petition to recover $626.675.46 deficit from the directors Hastings charged that embezzlements by the cashier. O. P. Norris. who it was claimed, committed suicide November 4. last. were effected over a long period of time. He said the defalcations would have been thwarted had the directors exercised "ordinary care and prudence. Named as defendants were' J.J Kirk. president. I. B. McKeever. vice president: W O Chappell, J W. Judkins. P. B. Worthington, J B Gufee and J W. Doudna, residents of Barnesville and BelmontVirginia Eiy and Lucretia Wood Ely. Belmont-co, administratrixes of Ernest Ely estate. D. H. Mot: and F. Wilson. Buffalo, executors of will of G. E. Hunt.

8. July 17, 1928 Springfield News-Sun Springfield, OH
Article from Springfield News-Sun, July 17, 1928

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Article Text

AUTHORITY ASKED TO BURN BANK'S RECORDS Receiver of Defunct Institution Lists $519,350.87 in Forged Notes He Would Destroy. Authority to burn all records the defunct National Bank of Barnesville, among which is half million dollars of forged notes, was asked today by Douglass, receiver, in petition before Judge W. W. Cowen Douglass is setting up the affairs of the bank which crashed four years ago, two days after the death of O. P. Borris cashier. The receiver declares that $519,350.87 in alleged forged notes are in his possession and that "the nature of the notes is confidential and they should be burned The loss at the bank was close to llowing the crash.

9. November 28, 1929 The Times Recorder Zanesville, OH
Article from The Times Recorder, November 28, 1929

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Article Text

AFFAIRS OF DEFUNCT BANK BARNESVILLE WILL BE CLOSED NEXT THIRTY DAYS Nov. Hastings, the defunct National Bank destroy papers bank 30 period the Treasury. The affairs the bank were practically closed by the recentThe total to stockholders approximately Total dividends were 54.1 percent or for each $100 deposited. Rabbit Supper The area Eagles and their families enjoyed rabbit supper at the Eagle home Tuesevening They consumed 88 rabbits. After the supper the balance spent in dancing Music was orchestra from the lodge for guests. Schools Get $5,600 The local school share of the final dividend from the the National Bank Barnesville was At the time the crash ago the local schools had $62,000 on deposit. Final Pep Meeting The high held the footlight pep meeting the the building Wednesday crowd is expected City field between Thursday afternoon to see game the locals and St. Clairsville the final game six of local Attend Meeting John Barnes, the deputy Bellaire aeries, and district chairman Old Age Pension committee district will lodge be held in Columbus Monday, Friday evening home street, Mrs. Brown entertain the members of her bridge Following dinner at o'clock balance evening will spent bridge. Three tables will be Tourist Club The members Tourist club at the home of Mrs. Johnson Walnut street, evening. The following the Friday gram: roll winter quotations; Iceland, geysers, Norse mythology, Mrs. M. Keeser. Family Dinner and Mrs. John Lynn will entertain family dinner. Guests will Lynn of Moundsville, Va.; Lynn Newark, and Mrs. James Lynn and son of Barnesville, Pearl Lynn Mrs. and family of Hendrysburg. Class Officers The officers were elect. at the dinner held the Nims residence Walnut Tuesday the Warner class the First Sunday secretary, Everett Palmer; George Hilles Judge Imhoff the counprobate court will speak to the class Sunday Meat Market Dallas Wilkins reopened the market Main street occupied by the Wilkins Athletic Association Next Tuesday evening officials the Eastern Ohio association meet. o'clock dinner served and Donald Hamill, the basketball rules. Principal Schafer Thomas the representatives the local school. Give to Needy The girl the local high Thursday about baskets of groceries and bundles clothing poor Barnesville The were donated the school pupils. there many the list this year there were the past School Attendance The average local school attendthe month of November, percent, to an the of schools. pupils record of being tardy Miss Lole Crawford had the honor to teach the only room perfect for the month. There enroll561 were girls, and 557 and 752 are the grades 366 in the Briefs Mrs. Sarah Adams Sarah are Thanksgiving with Allan Adams Va. Mary Patterson of West Main street, Monday for Beach. Calif., where will spend the winter