Treasury Trust Company (Pittsburg, PA)

Episode Information

Episode UID
1578775791297
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
157877579 hash
Start Date
January 22, 1908
Location
Pittsburg, Pennsylvania (40.441, -79.996)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a886424e4fef756b

Response Measures

None

Description

The trust company was closed as a subsidiary when the Traders' and Mechanics' bank was taken by receivers; articles describe suspension rather than a depositor run.

Events (1)
1. January 22, 1908 Suspension
Cause
Government Action
Cause Details
Closed along with the parent Traders' and Mechanics' bank by order of state banking examiners/temporary receiver due to inability to make clearings and maintain reserve.
Newspaper Excerpt
The Treasury Trust Company, a subsidiary, occupying the same building at Fourth avenue and Market street, was also closed.
Source
newspapers

Newspaper Articles (12)
1. January 22, 1908 The Evening Star and Newark Advertiser Newark, NJ
Article from The Evening Star and Newark Advertiser, January 22, 1908

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Article Text

PITTSBURG BANK AND TRUST COMPANY CLOSE. Institutions Will Pay Depositors in Full, Declares Receiver White. PITTSBURG, Pa., Jan. 22.-The Traders' and Mechanics' Bank, a State inetitution, with a capital of $100,000, closed its doors today. The following notice was posted: "Closed by order of State Banking Commissioner James L. White, temporary receiver." The Treasury Trust Company, a subsidiary, occupying the same building at Fourth avenue and Market street, was also closed. Some time ago the trust company made preparations to absorb the bank, but permission was refused by the State Banking Department. The plan was then reversed, and the trust company had been practically taken over by the bank, but no official announcement had been made. According to Temporary Receiver White. the trouble results from the inability to make clearings and maintain its reserve. From present conditions Receiver White says the depositors will be paid in full.

2. January 22, 1908 Santa Fe New Mexican Santa Fe., Santa Fe, NM
Article from Santa Fe New Mexican, January 22, 1908

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Article Text

TWO SMALL PITTSBURG BANKS CLOSE DOORS Pittsburg, Pa., Jan. 22.-The Traders and Mechanics Bank, a small institution here, was closed today by the state bank examiner. The Treasury Trust Company, a subsidiary of this bank, was also closed. James T. White, temporary receiver of the bank said the trouble resulted from an inability to make clearings and maintain a reserve. The indications he said. are that the depositors will be paid in full.

3. January 22, 1908 The Laramie Republican Laramie, WY
Article from The Laramie Republican, January 22, 1908

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Article Text

STATE BANK FAILS. Inability to Make Clearings and Maintain Reserve Given as Cause, Pittsburg, Pa., Jan. 22.-The Traders' and Mechanics' bank, a state institution, was closed today by the state bank examiner. The Treasurer Trust company, a subsidiary of the bank, was also closed. James L. White, temporary receiver for the bank, said the trouble results from inability to make clearings and maintain the resrve. The indications, he said, are that the depositors will be paid in full. The last statement of the bank showed deposits and certified checks of nearly half a million dollars.

4. January 22, 1908 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, January 22, 1908

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Article Text

PITTSBURG BANK FAILS. Traders and Mechanics', State Institution, Capital $100,000. Pittsburg, Jan. 22-The Traders and Mechanics' bank, a state institution, was closed today by the bank examiners. The Treasury Trust company a subsidiary, occupying the same building was closed, but voluntarily, it is said. The Traders and Mechanics' bank had a capital of $100,000. It was closed by order of James L. White, as temporary receiver. Some time ago the trust company made preparations to absorb the bank, but permission was refused by the state banking department. The plan was then reversed and the trust company had been practically taken over by the bank but no official announcement had been made. According to Received White, the trouble results from the inability of the bank to make clearings and maintain its reserve. From present conditions, Receiver White says, the depositors will be paid in full.

5. January 23, 1908 The Montgomery Advertiser Montgomery, AL
Article from The Montgomery Advertiser, January 23, 1908

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PITTSBURG BANK FAILS. The Traders and Mechanics Bonk Closes Its Doors. Pittsburg. Jan. 28.-The Traders and Mechanics Bank, a state institution with a capital of $100,000, closed its doors today. The following notice was posted upon the door: "Closed by order of State Banking Commissioner James L White, temporary receiver." The Treasury Trust Company, a subsidiary company, occupying the same building at Fourth Avenue and Market Street, was also closed. Some time ago the trust company made preparations to absorb the bank but permission was refused by the State Banking Department. The plan was then reversed and the trust company had been practically taken over by the bank but no official announcement had been made. According to Temporary Receiver White, the trouble results from the inability of the bank to make clearings and maintain its reserve. From present conditions, Receiver White says the depositors will be paid in full.

6. January 23, 1908 The Pacific Commercial Advertiser Honolulu, HI
Article from The Pacific Commercial Advertiser, January 23, 1908

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a was It night and then committed suicide in Macy's restaurant. lover's quarrel. FLEET SAILS FOR MAGELLAN. RIO DE JANEIRO, Brazil, January 22. The American battleship fleet with the exception of the provision ship Arethusa has sailed for Punta Arenas, Strait of Magellan. STEAMERS COLLIDE. ROTTERDAM, Holland, January 22.-The steamer Amsterdam was beached here today, having been badly damaged by collision with the steamer Ax minster. BRECKONS AND HENDRY. WASHINGTON, January 22.-The President has nominated R. W. Breckons as United States Attorney for Hawaii and E. R. Hendry as United States Marshal. ANOTHER BANK SUSPENDS. PITTSBURG, January 22.-The Traders and Mechanics Bank and the Treasury Trust Company have suspended. SIR ROBERT HART'S SUCCESSOR. apPEKING, January 22.-Nantung, former Governor of Peking, has been pointed Comptroller of Chinese Customs, A NEW BATTLESHIP. PHILADELPHIA, January 22.-The new battleship Mississippi has been turned over to the government. REBELS DOING BETTER. WASHINGTON, January 22.-The rebels of Hayti are making headway against the government forces,

7. January 23, 1908 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, January 23, 1908

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Article Text

Pittsburg Bank Fails. Pittsburg, Jan. -The Traders and Mechanics' bank, a state institution, with a capital of $100,000. closed its doors, and James L. White was appointed temporary receiver. The Treasury Trust company. a subsidiary, occupying the same building at Fourth avenue and Market street, was also closed.

8. January 23, 1908 The Bemidji Daily Pioneer Bemidji, MN
Article from The Bemidji Daily Pioneer, January 23, 1908

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Article Text

PITTSBURG BANK CLOSED. Subsidiary Trust Company Also Suspends Business. Pittsburg, Jan. 23.-The Traders and Mechanics' bank, a state institution, has been closed by the state bank examiners. The Treasury Trust company, a subsidiary, occupying the same building, also closed, but voluntarily, it is said. Some time ago the trust company made preparations to absorb the bank, but permission was refused by the state banking department. The plan was then reversed and the trust company had been practically taken over by the bank, but no official announcement had been made. According to Temporary Receiver White the trouble results from the inability of the bank to make clearings and maintain its reserve. From present conditions Receiver White says the depositors will be paid in full.

9. January 23, 1908 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, January 23, 1908

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PITTSBURG BANK FAILURE Traders' & Mechanics' Closed by Order of Examiners-Trust Company Also Involved. Pittsburg, Jan. 22.-The Traders' and Mechanics' bank, a state institution, was closed today by the bank examiners. The Treasury Trust company, a subsidiary, occupying the same building, was closed, but voluntarily, it is said. The Traders' and Mechanics' bank had a capital of $100,000. It was closed by order of James I. White, as temporary receiver. Some time ago the trust company made preparations to absorb the bank, but permission was refused by the state banking department. The plan was then reversed and the trust company had been practically taken over by the bank, but no official announcement had been made. According to Receiver White, the trouble results from the inability of the bank to make clearings and maintain its reserve. From present conditions, Receiver White says, the depositors will be paid in full. The suspension of the bank, it is said, has been expected for some time. Only a few persons congregated around the bank and there was no excitement. The last statement showed deposits, check and special time certificates of deposit, certificates of deposit and certified checks of $411,577.

10. January 23, 1908 New-York Tribune New York, NY
Article from New-York Tribune, January 23, 1908

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THE NEWS THIS MORNING. CONGRESS-House: Discussion of the Penal Code bill occupied most of the time of the session; Mr. Kimball, of Kentucky, made a humorSenate: The Penal Code bill ous speech. was discussed; an attempt was made to have the Harvester Trust investigation called off. FOREIGN.-The American battleship fleet sailed from Rio de Janeiro for Punta Arenas; President Penna visited the Minneapolis and hearty farewells were exchanged; a Brazilian squadron accompanied the warships to sea. Prince von Büllow declined to answer a Socialist question on the subject of suffrage in Prussia and in the uproar which followed the ministers Volcanic disturbances off left the house. the coast of Yucatan have caused the disappearance of three islands. The Chilian Congress passed the bill for a railway running from north to south: it is intended ultimately to General extend the line to the frontiers. Firmin. who with other exiled Haytians salled from St. Thomas recently, is said to have made several attempts to land in the republic; government forces are preparing to attack Gonalves. DOMESTIC.-The letter of Governor Hughes caused discussion in Washington, but there was a disposition to wait for his promised speech The before expressing decided opinions. urgency deficiency bill, covering $24,174,450, was The Republican General Comreported. mittee of Rensselaer County indorsed Governor The Public Service Hughes's candidacy. Commission for the 2d District made its first annual report to the State Legislature; an investigation of passenger rates in the state is It was announced at Boston promised. that Dr. Karl Muck, conductor of the Boston Symphony Orchestra, would not remain with the orchestra after the present season. Irving E. Salmon, of Morristown, N. J., committed suicide by shooting near Syracuse. The Traders and Mechanics' Bank, of Pittsburg, and the Treasury Trust Company, a subsidiary, occupying the same building, were closed by the state bank examiners. An attempt was made to dynamite and burn the Hayes-Sory regie tobacco factory at Clarksville, Tenn.; the guards killed two negroes and wounded another. The CITY.-Stocks moved irregularly. Hughes boom was launched in earnest at a meeting held in this city. District Attorney Jerome was extremely angered by the failure of A. H. Curtis, ex-president of the National Bank of North America, to appear before the grand jury. A pound for automobiles left unattended in the street was started and a raid made on such cars. It was announced that the funeral of Morris K. Jesup would be held at noon on Saturday. The rumor that the Rothschilds had severed their connection with Belmont & Co. was denied. Fire Commissioner Lantry said he knew nothing about hose and other details of the Fire Department. Edward N. Bassett, one of the Public Service Commissioners, brought an action to recover $50,000 for libel from Mrs. Helen J. Dole and Miss Jennie Dole, of Brooklyn, and their attorney, Alfred Hughes. Frank Brady, an advertising solicitor, was shot to death in a Broadway restaurant by a woman, who emptied another revolver into herself and died two hours later. THE WEATHER-Indications for to-day: Fair and colder. The temperature yesterday: Highest, 50 degrees; lowest, 38.

11. January 23, 1908 The Barre Daily Times Barre, VT
Article from The Barre Daily Times, January 23, 1908

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PITTSBURG BANK FAILS; DEPOSITORS TO GET ALL. Traders and Mechanics' and a Subsidiary Trust Company Closed. Pittsburg, Jan. 23.-The Traders' and Mechanics' bank a state institution with a capital of $100,000, closed its doors yesterday, and James L. White was appointed temporary receiver. The Treasury Trust company, a subsidiary, occupying the same building at Fourth avenue and Market street, was also closed. Accordling to Mr. White the trouble results from the inability of the bank to make clearings and maintain its reserve. The depositors probably will be paid in full.

12. January 25, 1908 The Irish Standard Minneapolis, Saint Paul, MN
Article from The Irish Standard, January 25, 1908

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PITTSBURG BANK IS CLOSED STATE INSTITUTION SHUTS ITS DOORS TEMPORARILY. Receiver Says Indications Are That Depositors Will Be Paid Their Cash In Full. Pittsburg, Pa., Jan. 23.-The Traders' and Mechanics' bank, a state institution with a capital of $100,000, closed its doors Wednesday. The following notice was posted: "Closed by order of State Banking Commissioner James L. White, temporary receiver." The Treasury Trust company, a subsidiary, occupying the same building at Fourth avenue and Market street, was also closed. Some time ago the trust company made preparations to absorb the bank, but permission was refused by the state banking department. The plan was then reversed and the trust company had been practically taken over by the bank, but no official announcement had been made. According to Temporary Receiver White, the trouble results from the inability of the bank to make clearings and maintain its reserve. From present conditions, Receiver White says, the depositors will be paid in full. William Kemmler, Jr., is president of the Traders' and Mechanics' bank. The suspension, it is said, has been expected in financial circles for some time. Only a few persons congregated around the bank, and there was no excitement. The condition of the bank, published December 19, showed that the deposits, checks and special, time certificates of deposit and certified checks, amounted to $431,577.37, while the money due from the banks and bankers amounted to $39,656.42. Chicago, Jan. 23.-A. C. Tisdelle, private banker at 94 La Salle street, has made an assignment of his bank and all its property and assets to Charles A. Root, his cashier, and the doors of the bank were closed to depositors and others Wednesday. Every move in the assignment, which involved liabilities of $73,957.47, was surrounded with mystery, and the details were said to be unusual. The assets are given as valued at $95,786.29. It was learned that the affairs of the Commonwealth Trust and Savings bank, the union labor four per cent. bank, which were about to be finally wound up, figured in Tisdelle's misfortune. Boise, Idaho, Jan. 23.-Walter S. Bruce was Wednesday appointed re ceiver of the Capital State bank, which suspended.