First National Bank (Franklin, OH)

Episode Information

Episode UID
73801166
Episode Type
Suspension β†’ Closure
Bank Type
national
Bank ID
7380 national
Charter Number
738
Start Date
February 5, 1897
Location
Franklin, Ohio (39.555, -84.296)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
efe7153c3156ffa0

Response Measures

None

Receivership Details

Depositor recovery rate
80.0%
Date receivership started
1897-02-17
Date receivership terminated
1906-10-01
OCC cause of failure
Losses
Share of assets assessed as good
18.7%
Share of assets assessed as doubtful
77.3%
Share of assets assessed as worthless
3.9%

Description

Articles report suspension Feb 5 and appointment of a receiver Feb 17; some reports cite heavy/too many loans as cause.

Events (4)

1. January 23, 1865 Chartered
Source
historical_nic
2. February 5, 1897 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Reported overextended/too many loans and heavy loans leading to suspension.
Newspaper Excerpt
Franklin, O., Feb. 5.-The First National Bank has suspended.
Source
newspapers
3. February 17, 1897 Receivership
Source
historical_nic
4. February 17, 1897 Receivership
Newspaper Excerpt
Mr. Eckels, the comptroller of the currency, has appointed receivers of failed national banks as follows: ... J. D. Miller, First National Bank of Franklin, Ohio.
Source
newspapers

Newspaper Articles (19)

Article from Alexandria Gazette, February 5, 1897

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Article Text

Bank Failures. FRANKLIN, Ohio, Feb. 5.-The First National Bank has suspended. Capital, $100,000; surplus, $20,000; undivided profits, $30,000; deposits, $135,000; loans and discounts, $195,000. GREAT FALLS, Montana, Feb. 5.The Northwestern National Bank of Great Falls was placed in the hands of a receiver this morning.


Article from San Antonio Daily Light, February 5, 1897

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Article Text

BANK SUSPENDS. Washington, Feb. 5.-The comptroller of the currency received a telegram announcing the suspension of the First National bank, of Franklin, Ohio. At its last report the bank owed its depositors $75,000 and had a surplus of $10,000, and assets including bonds $150,000. Its capital is $50,000.


Article from The Morning News, February 6, 1897

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Article Text

TWO BANKS SUSPEND. One Located at Franklin, o., and One in Montana. Franklin, O., Feb.5.-The First National Bank has suspended. Its capital is $100,000; surplus, $20,000; undivided profits, $30,000; deposits, $135,000; loans and discounts, $195,000.


Article from The Roanoke Times, February 6, 1897

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TOO MANY LOANS. Franklin, O., Feb. 5.-The First Na. tional Bank has suspended. Capital. $100,000; undivided profits, $30,000: deposits, $135,000; loans and discounts, $195,000.


Article from Birmingham State Herald, February 6, 1897

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Article Text

SUSPENDED BUSINESS. Franklin, O., Feb. 5.-The First National bank has suspended. Capital, $100,000; surplus, $20,000; undivided profits, $30,000; deposits, $135,000; loans and discounts, $195,000.


Article from The Bryan Daily Eagle, February 7, 1897

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Article Text

Ohio Bank Fails. WASHINGTON, Feb. 6.-The comptroller of the currency has received 8 telegram announcing the suspension of the First N tional bank at Franklin O. At date of its last report the ban owed depositors $75,000, and had a sur plus of $10,000 and assets including bonds, $150,000. Its capital, $50,000.


Article from The True Northerner, February 10, 1897

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Article Text

An Ohio Bank Fails. Franklin, O., Feb. 6.-The First national bank has suspended. Capital, $100,000; surplus, $20,000; undivided profits, $30,000; deposits, $135,000; loans and discounts, $195.000.


Article from The Springfield Herald, February 12, 1897

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Article Text

Two More Failures. Franklin, Ohio, Feb. 5.-The First National bank has suspended. Capital $100,000, surplus $20,000, undivided profits $30,000, deposits $185,000, loans and discounts $195,000. Great Falls, Mont., Feb. 5. - The Northwestern National Bank of Great Falls was placed in the hands of A receiver this morning.


Article from The Universalist, February 13, 1897

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Article Text

THE First National Bank of Frank. lin, O., has suspended. The bank owes depositors $75,000, and has assets of $158,000 and a surplus of $10,000.


Article from The Wichita Daily Eagle, February 18, 1897

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LATE NEWS BY WIRE. Washington, D. C., Feb. 17.-The comptroller of the currency has given authority for the organization of the First National bank of Newport, Ark. Glasgow, Scotland, Feb. 17.-The iron market is considerably depressed. Prices fell rapidly at midday owing to fears of labor troubles and pΓ³or American prices. Washington, D. C., Feb. 17. Mr. Eckels, the comptroller of the currency, has appointe receivers of failed national banks as follows: A. A. Phillips, First National bank of Olympia, Wash.; J. D. Miller, First National bank of Franklin, O., and Ira F. Hendricks, First National bank of Griswold, Ia. Boston, Mass., Feb. 17.-The stockholders of the Wakefield Rattan company at a meeting held in this city today ratified the plan effecting a consolidation with the firm of Heywood Bros. & Co., of Gardiner. The new company will have a capital of $6,000,000, and will be the largest rattan company in the world. Chicago, Ills., Feb. 17.-The W.C.T.U. temple has just received a second donation of $25,000 from Marshall Field, making his pledge of $50,000, the conditions being that $300,000 be raised to purchase the full amount of bonds. Miss Helen Culver of Chicago has also raised her pledge from $5.000 to $10,000. Washington, D. C., Feb. 17.-By a decifon of the secretary of the interior toady, the great tract of swamp lands in Florida known as "The Everglades" is conveyed to the state of Florida. The tract comprises about 2,242,800 acres. The state takes its title subject to the right of occupancy by about 200 Seminole Indians. San Antonio, Tex., Feb. 17.-One of the passenger elevators in the St. James hotel got beyond control of the conductor today. It went up at full speed, crashed clear through the roof, turned over and fell down the air shaft, a distance of five stories. The elevator conductor and a guest were in the machine at the time. Both are dying.


Article from Evening Star, February 18, 1897

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Bank Receivers Appointed. The controller of the currency has appointed receivers of failed national banks as follows: A. A. Phillips, First National Bank of Olympia, Wash.; J. D. Miller, First National Bank of Franklin, Ohio: and Ira F. Hendricks, First National Bank of Griswold, Iowa.


Article from The Saint Paul Globe, February 18, 1897

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Michael Doran. James Doran. M. DORAN & CO. BANKERS AND BROKERS. 311 Jackson St., St. Paul, Minn MINING STOCKS. Bulwer $0 50 Ontario $9 00 Cholor 85 Ophir 90 Crown Point 20 18 Plymouth Con. Cal. & Va 1 90 1 00 Quicksilver Deadwood 1 00 10 00 do pfd 40 Gould & Curry Sierra Nevada 30 Hale & Norcross 1 05 Standard 1 65 Homestake 29 00 Union Con 30 Iron Silver 32 Yellow Jacket 20 Mexican 35 FOREIGN FINANCIAL. NEW YORK, Feb. 17.-Evening Post's London financial telegram says: The stock markets were steady today with a better tendency, but apart from a necessary investing nothing was done. Americans followed the New York lead, there being no initiative here, where the only activity is in a few home industrial concerns. The Glasgow iron market closed with a panic, the bears raiding it on fears of the Scotch miners' striking, and also on poor American advices. The Paris and Berlin markets were steady. SUGAR TRUST RIVAL. NEW YORK, Feb. 17.-For several days reports have been current in Wall street that another competitor of the sugar trust more formidable than the Arbuckle Bros. was about to spring up in Brooklyn. The capitalist referred to is Claus Doscher, who is reputed to be worth $6,000,000, and was one of the organizers of the Brooklyn Refining company, which sold out to the American company at a handsome profit. NEW YORK MONEY. NEW YORK, Feb. 17.-Money on call easier at 11/2@13/4 per cent; last loan, 1Β½; closed offered, 1Β½. Prime mercantile paper, 3@4 per cent. Sterling exchange easier, with actual business in bankers' bills $4.86%@4.87 for demand, and $4.84%@4.85 for sixty days. Posted rates, $4.851/2 and $4.871/2@4.88. Silver certificates, 64%@651/4c. Bar silver, 64%c. BANK RECEIVERS. WASHINGTON, Feb. 17.-Mr. Eckels, the comptroller of the currency, has appointed receivers of failed national banks as follows: A. A. Phillips, First National bank, Olympia, Wash.; J. D. Miller, First National bank, Franklin, 0.; Ira F. Hendricks, First National bank, Griswold, Io. BANK CLEARINGS. St. Paul-$476,890.66. Minneapolis-$901,908.94. $5,503,473. New York-Clearings, $92,374,989; balances, Boston-Clearings, $14,244,490; balances, $1,646,311. CHICAGO MONEY. CHICAGO, Feb. 17.-New York exchange, 60c discount. Foreign exchange steady; demand, $4.87; sixty days, $4.85. TREASURY STATEMENT. WASHINGTON, Feb. 17.-Today's statement of the condition of the treasury shows: Available cash balances, $215,736,992; gold reserve, $146,924,818. NEW BANK AUTHORIZED WASHINGTON, Feb. 17.-The comptroller of the currency has given authority for the organization of the First National bank, Newport, Ark.


Article from Grant County Herald, February 18, 1897

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An Ohio Bank Fails. Franklin, 0., Feb. 6.-The First national bank has suspended. Capital, $100,000; surplus, $20,000; undivided profits, $30,000; deposits, $135,000; loans and discounts, $195,000.


Article from The River Falls Times, February 23, 1897

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The Nation's Capital. The judiciary committee decided to report the nomination of William A. Munger to be judge of the United States district court for the distrcit of Nebraska. Senator Thurston has given notice of an amendment to the sundry civil bill appropriating $1,085,156 to pay unallowed sugar bounties under the act of 1895 for sugar produced in 1894 and 1895. Senator Gear has presented an amendment to the general deficiency appropriation bill appropriating $1,310,429 for the payment of claims of the Southern Pacific railroad against the government. The controller of the currency has appointed receivers of failed national banks as follows: A. A. Phillips, First National Bank of Olympia, Wash.; J. D. Miller, First National Bank of Franklin, Ohio; Ira F. Hendricks, First National Bank of Griswold, Iowa.


Article from The Princeton Union, February 25, 1897

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THE NEWS RESUME. DIGEST OF THE NEWS FROM ALL PARTS OF THE WORLD. A Comprehensive Review of the Important Happenings of the Past Week Culled From the Telegraph Reports-The Notable Events at Home and Abroad That Have Attracted Attention. The Nation's Capital. The judiciary committee decided to report the nomination of William A. Munger to be judge of the United States district court for the distrcit of Nebraska. Senator Thurston has given notice of an amendment to the sundry civil bill appropriating $1,085,156 to pay unallowed sugar bounties under the act of 1895 for sugar produced in 1894 and 1895. Senator Gear has presented an amendment to the general deficiency appropriation bill appropriating $1,310,429 for the payment of claims of the Southern Pacific railroad against the government. The controller of the currency has appointed receivers of failed national banks as follows: A. A. Phillips, First National Bank of Olympia, Wash.; J. D. Miller, First National Bank of Franklin, Ohio; Ira F. Hendricks, First National Bank of Griswold, Iowa.


Article from Iron County Register, February 25, 1897

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AN Italian giving his name as Ira Matchus, but who tallies with the picture and description of John Aburzzo, one of the three "satchel workers," who confidenced a New Orleans jeweler out of $10,000 worth of diamonds, was arrested in Chicago on the 16th. THE Ottoman government issued an order, on the 17th, for the mobilization of the Turkish fleet with the least possible delay. THE Cologne Gazette confirms the report that most of the great European powers concur in the proposal of Germany that the powers blockade the Piraeus. WHILE a force of workmen were engaged in lowering a boiler into the new Spanish cruiser Princess of Asturia, which is being fitted out at the naval yards at Cadiz, the tackling gave way and the boiler fell into the gathering of men below, killing six of them and seriously injuring ten others. THE bill granting women the right of suffrage in Oklahoma territory was defeated in the house, on the 18th, by a vote of 11 to 13. It was believed the bill for an educational qualification would carry. COMPTROLLER ECKELS, on the 17th, appointed J. D. Miller receiver of the First national bank of Franklin, 0.; John E. Pendricks, receiver of the First national bank of Griswold, Ia., and N. A. Phillips receiver of the First national bank of Olympia, Wash. THE nomination of J. H. Munger, of Nebraska, to be district judge of Nebraska, was confirmed by the United States senate, on the 18th, without opposition. THE general deficiency bill, pre. sented in the house of representatives, on the 18th, carries an appropriation of $8,448,937. THE Spanish government has agreed to release Julio Sanguilly, the American citizen who was arrested in Cuba two years ago. THE Bermuda, which has gained a world-wide celebrity, because of Cuban filibustering expeditions, passed out from the Delaware breakwater, on the 18th, and steamed seaward, ostensibly for the Bermudas. It is reported that Gen. Carlos Roloff was on board. JOHN I. BAKER, the "Sage of Essex," an abolitionist, and one of the found. ers of the republican party, died at Beverly, Mass., on the 18th, at the age of 85 years. He was born in Beverly, August 16, 1812, and always lived there. A DISPATCH from Key West, Fla., of the 18th, said: Private information has been received in this city of the whereabouts of Gen. Gomez. He has succeeded in slipping by Gen. Weyler and is now between him and Havana. THE break came in the senatorship dead-lock at Pierre, S. D., on the 18th. when Senator Kyle was re-elected, the republicans of the house voting solidly for him, having dropped Pickler. PRESIDENT ELECT McKINLEY has ended his search for the New York member of his cabinet. He has definitely settled upon Col. John J. McCook for attorney-general. AN attempt was made, on the night of the 18th, to wreck a Big Four train near Berea, 0., on a bridge 75 feet high. The obstructions were discovered by a track walker shortly before the east-bound fast freight was due, about 9:30, and a horrible wreck was averted. THE last day of the first session of the national convention of mothers, at Washington, was marked by so many diversifiedstopics to be discussed and such pronounced manifestations of general interest that the congress had to divide itself into three or four separate conventions. FIRE in the Everett school at the corner of Northampton and Tremont streets, Boston, on the 19th, caused a stampede among the pupils, and in the rush to leave the building ten or twelve children were crushed and bruised, but not seriously injured. ALL of the officers and men of the French navy who were absent on leave from Brest station were, on the 19th, ordered to rejoin their vessels without delay. ON the 19th the president pardoned Thomas Prindiville, sentenced to ten months' imprisonment in California for contempt of court.


Article from The Jasper Weekly Courier, February 26, 1897

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ture and description of John Aburzzo, one of the three "satchel workers," who confidenced a New Orleans jeweler out of $10,000 worth of diamonds, was arrested in Chicago on the 16th. FOUR indietments have been found against Sylvester Scovell, a corre. spondent of the New York World, recently arrested by the Spanish author ities in Cuba. AN official dispaten from Bombay says 1,835 deaths occurred there during the week ending Friday, February 12, of which 813 were due to the bubonic plague. To THE sound of martial music he loved so well, the body of Gen. Jo O. Shelby was, on the 17th, taken to its last resting place in Forest Hill cemetery, at Kansas City, Mo., and placed in the receiving vault to await its burial among the 80 followers of the "Lost Cause" already sleeping in the ex-confederate burying ground. GEN. ALFRED PLEASONTON, one of the most distinguished cavalry officers on the Union side during the late civil war, died at his apartments in Washington at three o'clock on the morning of the 17th. His death, which was calm, resulted from a system worn out with activity and work. COMPTROLLER ECKELS, on the 17th, appointed J. D. Miller receiver of the First national bank of Franklin, O.; John E. Pendricks, receiver of the First national bank of Griswold, Ia., and N. A. Phillips receiver of the First national bank of Olympia, Wash. THE Ottoman government issued an order, on the 17th, for the mobilization of the Turkish fleet with the least possible delay. THE Cologne Gazette confirms the report that most of the great European powers concur in the proposal of Germany that the powers blockade the Piraeus. A FAVORABLE report was ordered, on the 17th, by the house labor committee on the Lorimer bill "To prevent conspiracies to blacklist." THE president, on the 18th, commuted to five years' actual imprisonment the sentence of eight years in the penitentiary imposed March 11, 1893, on J. E. Crandall, formerly president of the First national bank of Johnson City, Tenn., for false entries in national bank books and false reports. WHILE a force of workmen were engaged in lowering a boiler into the new Spanish cruiser Princess of Asturia, which is being fitted out at the naval yards at Cadiz, the tackling gave way and the boiler fell into the gathering of men below, killing six of them and seriously injuring ten others. THE bill granting women the right of suffrage in Oklahoma territory was defeated in the house, on the 18th, by a vote of 11 to 13. It was believed the bill for an educational qualification would carry. FRANCE and Brazil signed a protocol, on the 18th, referring their dispute regarding territorial boundaries to arbitration, the president of the Swiss confederation to be the referee. THE nomination of J. H. Munger, of Nebraska, to be district judge of Nebraska, was confirmed by the United States senate, on the 18th, without opposition. THE general deficiency bill, presented in the house of representatives, on the 18th, carries an appropriation of $8,448,937. THE Spanish government has agreed to release Julio Sanguilly, the American citizen who was arrested in Cuba


Article from Macon Beacon, February 27, 1897

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PERSONAL AND GENERAL. A BLOCK of lavn has arrived in New York from Honolulu to be made into a monument for Gen, Samuel Chadman Armstrong, Gen. Armstrong was born on the island of Maui, Hawaii, of missionary parents, came to the United States, served through the civil war, founded Hampton normal institute for the and was Indians, Hampton, president Va., until and superintendent at his death, in 1893. FOUR indictments have been found against Sylvester Scovell, a correspondent of the New York World, recently arrested by the Spanish authorities in Cuba. GEN. ALFRED PLEASANTON, one of the most on the side Union distinguished during cavalry the officers late in Wash- civil war, died at his apartments ington at three o'clock on the morning of the 17th. His death, which was calm, resulted from a system worn out with activity and work. AN official dispatch frsm Bombay says 1835 deaths occurred there during the week ending Friday, February 12, of which 813 were due to the bubonic plague. To THE sound of martial music he loved so well, the body of Gen. Jo O. Shelby was, on the 17th, taken to its last resting place in Forest Hill cemetery, at Kansas City, Mo., and placed in the receiving vault to await its burial among the 80 followers of the 'Lost Cause" already sleeping in the ex-confederate burying ground. THE president, on the 18th, commuted to five years' actual imprisonment the of years sentence eight in 1893, the penitentiary imposed March 11, on Crandall, formerly president of the First national bank of Johnson City, Tenn., for false entries in national bank books and false reports. FRANCE and Brazil signed a protocol, on rethe 18th, referring boundaries their dispute to arbigarding territorial tration, the president of the Swiss confederation to be the referee. Italian giving his name as Ira but who tallies Matchus, AN John with Aburzzo, the picture and description of one of the three "satchel workers," who confidenced a New Orleans jeweler out of $10,000 worth of diamonds, was arrested in Chicago on the 16th. an on the 17th, for the order, THE Ottoman government mobilization issued of the Turkish fleet with the least possible delay. THE Colonge Gazette confirms the that most of the great report European of Gerpowers concur in the proposal many that the powers blockade the Piraeus. WHILE a force of workmen were engaged in lowering a boiler into the new cruiser Princess of Aswhich is being out turia, Spanish fitted at the naval yards at Cadiz, the tackling gave way and the boiler fell into the gathering of men below, killing six of them and seriously injuring ten others. THE bill granting women the right of suffrage in Oklahoma territory was defeated in the house, on the 18th, by vote of 11 to 18. It was believed the bill for an educational qualification would carry. THE general deficiency bill presented in the house of representatives, on the 18th, carries an appropriation of $8,448,937. THE nomination of J.H. Munger, of Nebraska, to be district judge of Nebaska, was confirmed by the United States senate, on the 18th, without opposition. COMPTROLLER ECKELS, on the 17th, J. D. Miller receiver of the bank of appointed First national Franklin, of the First O.; John E. Pendricks, receiver N. national bank of Griswold, Ia., and A. Phillips receiver of the First national bank of Olympia, Wash. THE Bermuda, which has gained a because of Cuban expeditions, world-wide tilibustering celebrity, passed out the from the Deleware breakwater, on 18th, and steamed seaward, ostensibly for the Bermudas. It is reported that Gen. Roloff was on was made, on night AN Carlos attempt board. the of to wreck a Big Berea. ., on a bridge 75 near the 18th, discovered Four feethigh. train by The obstructions were shortly before track walker about the eastbound fast treight was due, everted


Article from The Dickinson Press, February 27, 1897

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The Nation's Capital. The judiciary committee decided to report the nomination of William A. Munger to be judge of the United States district court for the distreit of Nebraska. Senator Thurston has given notice of an amendment to the sundry civil bill appropriating $1,085,156 to pay unallowed sugar bounties under the act of 1895 for sugar produced in 1894 and 1895. Senator Gear has presented an amendment to the general deficiency appropriation bill appropriating $1,310,429 for the payment of claims of the Southern Pacific railroad against the government. The controller of the currency has appointed receivers of failed national banks as follows: A. A. Phillips, First National Bank of Olympia, Wash.; J D. Miller, First National Bank of Franklin, Ohio; Ira F. Hendricks, First National Bank of Griswold, Iowa. People Talked About. Anthony S. Morrow, a prominent Central Pennsylvania banker and capitalist, died at Holidaysburg. Pa., of paralysis. aged seventy-four years. William Wood, a resident of Plainfield. Wis., since 1855, is died, aged 83. Eight children. forty-nine grandchildren and twenty-five great grandchildren, also an aged wife, survive him. Mrs. George II. Timmings, wife of the general secretary of the Y. M. C. A. at La Crosse, Wis., is dead of consumption. aged thirty. She leaves one daughter nine years old. Col. R. H. McLean, until lately commander of the Hawaiian army, has arrived in San Francisco on his way to New York. Col. McLean resigned his commission early in February and will remain permanently in the United States. State Senator Charles J. Bronson of Lexington, Ky., was married in St. Louis to Miss Wisdom of Paducah. Ky. Their wedding was announced a year ago but the bride's father objected. Since then the father has died, leaving an estate worth over a million dollars. Rev. W. A. Foster, pastor of the First Christian church of St. Louis. has resigned from that pastorate to accept a call from the West London tabernacle of London, England, which is the largest church of the Christian denomination outside of the United States. Mrs. Hulda New, aged eighty-four years, died near Columbus, Ind., last Sunday. She was cousin of John C. New of Indianapolis, ex-treasurer of the United States, and also of the late Jeptha D. New, ex-congressman, ex-circuit judge and ex-appellate judge of Indiana. Mrs. 1. N. Waggoner died at her home near Hamilton, III., aged eightyseven years. Her husband was one of the earliest pilots on the Mississippi river and was captain of a keelboat propelled by poles and sails before the days of steamers. Her father, Capt. James White, bought from the Indians the land which is now the site of the historic Mormon town, Nauvoo, paying them therefor seven bushels of corn for each wigwam and receiving an Indian deed on wampum for the same.