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Carolina Watchman
Salisbury, Rowan County, North Carolina
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Stockholders of the First National Bank of Uniontown, Pa., which closed in 1915 due to slumping coal land values, received a second dividend of $110,000 today, bringing total payments to $460 per $100 share. Depositors were paid earlier. Values rose with World War, enabling liquidation.
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Uniontown, Pa.--Here's a bank failure with a happy ending. Stockholders of the First National Bank of Uniontown, which closed in 1915, today received $110,000 in dividend checks--the second and probably the last dividend.
Today's dividend boosts payments to $460 for every $100 share of stock. Depositors long ago were paid $1.16 on the dollar.
The bank, headed by Josiah V. Thompson, former multimillionaire coal operator, closed seventeen years ago when the value of coal lands slumped. Then values skyrocketed with the World War and liquidation was a happy affair.
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Location
Uniontown, Pa.
Event Date
1915
Story Details
The First National Bank of Uniontown closed in 1915 due to slumping coal land values under Josiah V. Thompson. Seventeen years later, stockholders received a second dividend, totaling $460 per $100 share, after values skyrocketed with World War, leading to happy liquidation. Depositors paid $1.16 on the dollar earlier.