Contemporary reports (May 2–3, 1906) state the attorney-general's department applied for/appointed a receiver for the Monongahela Valley Bank of Duquesne and that its affairs were in process of liquidation. No articles describe a depositor run prior to the receivership; therefore this is classified as a suspension leading to permanent closure/receivership. President/vice‑president James (Joseph) McQuaide is reported absent and had made assignments for creditors.
Events (1)
1.May 2, 1906Receivership
Newspaper Excerpt
At Harrisburg a receiver was appointed for the Monongahela Valley Bank of Duquesne. ... The affairs of the Monongahela Valley Bank were in process of liquidation.
Source
newspapers
Newspaper Articles (10)
1.May 3, 1906New-York TribuneNew York, NY
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NATIONAL BANK CLOSED. President, a Well Known Pittsburg Lawyer, Missing. (By Telegraph to The Tribune.] Pittsburg, May 2.-The Delmont National Bank, at Delmont, Westmoreland County, was closed to-day by the United States Bank Examiner. At Harrisburg a receiver was appointed for the Monongahela Valley Bank of Duquesne. Joseph R. McQuaide, a Pittsburg lawyer, is president of the Delmont bank and vicepresident of the Monongahela Valley Bank. He left this city on Tuesday of last week, saying he was going to Chicago. He has not been heard of since. The affairs of the Monongahela Valley Bank were in process of liquidation. A representative of the State Banking Department has had charge for the last two months. McQuaide made an assignment for the benefit of creditors several weeks ago. It is said the depositors of both institutions will be paid in full.
2.May 3, 1906The Times DispatchRichmond, VA
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ONE BANK IS CLOSED, RECEIVER FOR ANOTHER McQuade, Who Recently Made Assignment, an Officer of Both Institutions. (By Associated Press.) PITTSBURG, PA., May 2.-National Bank Examiner Cunnlugham to-day closed the Delmont National Bank, of Delmont, Westmoreland county, Pa., and application was made in the Dauphin County Court by the attorney-general's department at Harrisburg for a receiver for the Monongahela Valley Bank, of Duquesne, James McQuade, an attorney of this city, who recently made an assignment of an amusement enterprise, was president of the Delmont and vico-president of the Monongahela Valley Bank. He is absent from the city. The Delmont Bank has a capital stock of $25,000 and deposits of about $75,000. The Monongahela Valley Bank had a capital stock of $50,000.
Two Banks Go Under. PITTSBURG. May 3.-National Bank Examiner Cunningham closed the Delmont National bank of Delmont, Westmoreland county, Pa., and application was made in the Dauphin county court by the attorney general's department at Harrisburg for a receiver for the Monongahela Valley bank of Duquesne.
4.May 3, 1906Gloucester County DemocratWoodbury, NJ
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TWO BANKS CLOSED Two Institutions of James McQuaide Said to Be Insolvent. Pittsburg, May 3.-At the instance of the comptroller of the currency, National Bank Examiner John B. Cunningham closed/the Delmont National Bank at Delmont, Westmoreland county, Pa., of which James McQuaide, of this city, is president, and almost at the same time the attorney general's department at Harrisburg made application to the Dauphin county court for the appointment of a receiver for the Monongahela Valley Bank of Duquesne, which is alleged to be insolvent. Mr. McQuaide is vice president of the Monongahela bank, and also has been conducting a chain of amusement enterprises about the country which consist mainly of merry-go-rounds. He made an assignment recently for the benefit of his creditors, with the Mercantile Trust company of this city as assignees. The Delmont bank has a capital stock of $25,000 and deposits of about $75,000. The Monongahela Valley - Bank had a capital stock of $50,000. The only cause assigned for the action of the comptroller of the currency is that Mr. McQuaide is absent from the city. It was announced that he went to Chicago a week ago.
Two Banks Go Under. PITTSBURG. May 3.-National Bank Examiner Cunningham closed the Delmont National bank of Delmont, Westmoreland county. Pa., and application was made in the Dauphin county court by the attorney general's department at Harrisburg for a receiver for the Monongahela Valley bank of Duquesne.
6.May 3, 1906The Birmingham Age-HeraldBirmingham, AL
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tion was made in the Dauphin county court by the attorney general's department at Harrisburg for a receiver of the Monongahela Valley bank of Duquesne. James McQuade, an attorney of this city, who recently made an assignment of an amusement enterprise, was president of the Delmont and vice president of the Monongahela Valley bank. He is absent from the city,
BANK CLOSED Receiver Appointed for the Delmont National Bank. of Delmont, W. Va. Pittsburg, Pa., May 2.-National Bank Examiner Cunningham today closed the Delmont National Bank, of Delmont, Westmoreland county, Pennsylvania, and application was made in the Dauphin county court by the attorney general's department at Harrisburg for a receiver of the Monongahela Valley Bank of Duquesne. James McQuade, an attorney of this city. who recently made an assignment of an amusement enterprise, was president of the Delmont and vice president of the Monongahela Valley Bank. He is absent from the city. The Delmont bank has a capital stock of $25,000 and deposits of about $75,000. The Monongahela Valley Bank had a capital stock of $50,000
8.May 4, 1906Iowa State BystanderDes Moines, IA
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TWO BANKS HAVE TROUBLE National and State Institutions, Controlled by Pittsburg Man Are Closed. Pittsburg, Pa.-National Bank Examiner John B. Cunningham Wednesday closed the Delmont National bank at Delmont, Pa., of which James McQuaide, of this city, is president, and almost at the same time the attorney general's department at Harrisburg made application to the Dauphin county court for a receiver for the Monongahela Valey bank of Duquesne, which is alleged to be insolvent. Mr. McQuaide is vice president of the Monongahela bank and also has been conducting a chain of amusement enterprises about the country, which consists mainly of merry-go-rounds.
9.May 5, 1906Democratic MessengerSnow Hill, MD
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TWO BANKS CLOSED Two Institutions of James McQuaide Said to Be Insolvent. Pittsburg, May 3.-At the instance of the comptroller of the currency, National Bank Examiner John B. Cunningham closed the Delmont National Bank at Delmont, Westmoreland county. Pa., of which James McQuaide, of this city, is president, and almost at the same time the attorney general's department at Harrisburg made application to the Dauphin county court for the appointment of a receiver for the Monongahela Valley Bank of Duquesne, which is alleged to be insolvent. Mr. McQuaide is vice president of the Monongahela bank, and also has been conducting a chain of amusement enterprises about the country which consist mainly of merry-go-rounds. He made an assignment recently for the benefit of his creditors. with the Mercantile Trust company of this city as assignees. The Delmont bank has a capital stock of $25,000 and deposits of about $75,000. The Monongahela Valley Bank had a capital stock of $50,000. The only cause assigned for the ac. tion of the comptroller of the currency is that Mr. McQuaide is absent from the city. It was announced that he went to Chicago a week ago.
10.May 9, 1906The Columbus JournalColumbus, NE
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TWO BANKS HAVE TROUBLE National and State Institutions, Controlled by Pittsburg Man Are Closed. Pittsburg, Pa.-National Bank Examiner John B. Cunningham Wednesday closed the Delmont National bank at Delmont, aa,, of which James McQuaide, of this city, is president, and almost at the same time the attorney general's department at Harrisburg made application to the Dauphin county court for a receiver for the Monongahela Val.ey bank of Duquesne, which is alleged to be insolvent. Mr. McQuaide is vice president of the Monongahela bank and also has been conducting a chain of amusement enterprises about the country, which consists mainly of merry-go-rounds.
