16690. Cosmopolitan National Bank (Pittsburg, PA)

View Charter #6216 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
6216
Charter Number
6216
Start Date
September 5, 1908
Location
Pittsburg, Pennsylvania (40.441, -79.996)

Metadata

Model
gpt-5-mini
Short Digest
e171a9dca6598772

Response Measures

None

Receivership Details

Depositor recovery rate
95.9%
Date receivership started
1908-09-05
Date receivership terminated
1916-10-31
OCC cause of failure
Excessive lending
Share of assets assessed as good
40.4%
Share of assets assessed as doubtful
19.0%
Share of assets assessed as worthless
40.7%

Description

The Cosmopolitan National Bank of Pittsburg (Pittsburgh, PA) was closed by order of the Comptroller of the Currency on 1908-09-05; a receiver was appointed and articles consistently report insolvency or unapproved paper. There is mention of crowds after the notice was posted but no clear independent depositor-driven run prior to suspension. Multiple articles describe federal examiners ordering the closure and a receiver (Robert Lyons) being appointed, so this is a government-ordered suspension that resulted in closure/receivership.

Events (4)
1. April 21, 1902 Chartered
Source
historical_nic
2. September 5, 1908 Receivership
Source
historical_nic
3. September 5, 1908 Receivership
Newspaper Excerpt
Robert Lyons was appointed receiver for the Cosmopolitan National Bank of Pittsburg; federal officials in charge declare the bank is insolvent.
Source
newspapers
4. September 5, 1908 Suspension
Cause
Government Action
Cause Details
Closed by order of the Comptroller of the Currency after examiner refused to approve certain paper/securities and declared the bank insolvent; federal examiners posted notice and ordered suspension.
Newspaper Excerpt
Closed by the order of the comptroller. JOHN B. CUNNINGHAM, Examiner in Charge.
Source
newspapers

Newspaper Articles (21)
1. September 5, 1908 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, September 5, 1908

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NATIONAL BANK SHUT. Cosmopolitan of Pittsburg Closed by Orders From Washington. Pittsburg, Pa., Sept. 5.-The Cosmopolitan National bank of this city suspended operations today. A notice posted on the doors reads: "Closed by the order of the comptroller. "JOHN B. CUNNINGHAM, "Examiner in Charge." While not a large institution it is a fair sized one, and the suspension caused considerable excitement. A few moments after the notice was posted on the doors a large crowd collected in front of the bank. John McClurg is president of the bank, and D. J. Richardson is chairman. According to a report this morning Mr. Richardson in a telephone conversation with one of the largest depositors, said he knew of no reason why the bank should be closed as the institution had from 40 to 45 per cent reserves on hand. The report of the condition of the bank made at the close of business July 15, 1908, shows the resources and liabilities are $1,912,520.38; capital stock paid in $500,000; surplus fund $100,000 and undivided profits $55,582.58. Because of Insolvency. Washington, Sept. 5.-The Cosmopolitan National bank of Pittsburg was closed today by direction of the comptroller of the currency upon the grounds of insolvency. Robert Lyons has been appointed receiver. The last report of condition July 15, 1908, shows deposits of $589,340. The total liabilities are placed at $1,912,520. State Was a Depositor. Harrisburg, Pa., Sept. 5.-The state of Pennsylvania had $100,000 of sinking fund money on deposit in the Cosmopolitan National bank of Pittsburg. The state is protected by bonds.

2. September 5, 1908 Evening Star Washington, DC
Article from Evening Star, September 5, 1908

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PITTSBURG BANK SUSPENDS. Closing of the Cosmopolitan National Causes Excitement. PITTSBURG. September 5.-The Cosmopolitan National Bank of this city, located at Liberty and 6th avenues, suspended operations today. A notice posted on the doors reads: "Closed by the order of the controller. John B. Cunningham, examiner in charge." While not a large institution it is a fair-sized one, and the suspension caused considerable excitement. A few moments after the notice was posted on the doors a large crowd collected in front of the bank. John' C. McClurg is president of the bank and D. J. Richardson is cashier. According to a report this morning Mr. Richardson in a telephone conversation with one of the largest depositors said he knew of no reason why the bank should be closed, as the institution had from 40 to 45 per cent reserves on hand. The report of the condition of the bank made at the close of business July 15. 1908, shows the resources and liabilities are $1,912,520.38; capital stock paid in, $500,000; surplus and undivided profits. $153,582.58.

3. September 5, 1908 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, September 5, 1908

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Pittsburg, Sept. 5.-The Cosmopen tan National bank suspended today. A notice posted on the doors read: "Closed by order of the comptroller. "JOHN L. CUNNINGHAM, "Examiner." While not a large institution, it is fair-sized one, and the suspension caused considerable excitement. A few moments after the notice was posted a large crowd collected in front of the bank. John McClurg president and D. J. Richardson ca. er. According to report Richardson said he knew of no reason why the bank should be closed, as the institution had from forty to forty-five per cent of reserves on hand. A report of the condition of the bank, made at the close of business July 15, shows resources and liabilities of $1,912,520; capital stock paid in, $500,000; surplus fund, $100,000; undivided profits, $55,582. The suspension followed an examination of the bank's books by Examiner Cunningham. Judge Oldham, of the legal department of the comptroller of the currency, arrived here today in connection with the trouble. Further than stating the bank is insolvent, neither Cunningham nor Oldham would make a statement. In the meana time the bank's officials are very indignant that the government cloned the bank. They allege it is in excellent financial shape and say the deposits at closing time yesterday aggregated $900,000. The available cash on head this morning, they say, was $830,838

4. September 5, 1908 The Richmond Palladium and Sun-Telegram Richmond, IN
Article from The Richmond Palladium and Sun-Telegram, September 5, 1908

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NATIONAL BANK IS SUSPENDED Pittsburg Institution Closed by Federal Orders. / Pittsburg, Sept. 5.-The Cosmopolitan National Bank was closed this morning by order of the comptroller of currency. A receiver was appointed. Federal officials in charge declare the bank is insolvent. The bank officials are indignant and claim the action is uncalled for. The cashier stated the liabilities are about one million and the assets are in excellent condition. The deposits aggregate five hundred thousand.

5. September 5, 1908 The Daily Sentinel Grand Junction, CO
Article from The Daily Sentinel, September 5, 1908

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A PITTSBURG BANK CLOSES ITS DOORS [By Associated Press.] Pittsburg, Pa., Sept. 5.-The + Cosmopolitan National Bank, a fairly large institution, closed + its doors today by order of the of comptroller of the currency. + The suspension of the bank +caused considerable excitement + and large crowds collected in front of the closed doors. + Just why the bank is suspended has not been made pubof lic. According to reports, the cashier, D. J. Richardson, in a + telephone conversation with one + of the largest depositors, said % that he knew no reason why the bank should have been % + closed, as the institution had from 45 to 50 per cent in reserves on hand. * The last report of the condition of the bank showed resources and liabilities of $1,912,520. + The bank had deposits of of nearly $600,000. including + $100,000 of state money. The + state is protected by bonds.

6. September 5, 1908 Lewiston Evening Teller Lewiston, ID
Article from Lewiston Evening Teller, September 5, 1908

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PITTSBURG BANK FAILURES. Two Institutions Close Their Doors in Smoky City. Pittsburg, Sept. 5.-The Mount Washington Savings and Trust company was closed today by the Pennsylvania banking commission. The Cosmopolitan National bank of Pittsburg suspended operations today, by order of the controller. It was a fair-sized institution, and the failure created considerable excitement. The liabilities and resources of the Cosmopolitan are nearly $2,000,000.

7. September 6, 1908 New-York Tribune New York, NY
Article from New-York Tribune, September 6, 1908

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TWO BANKS CLOSED PITTSBURG INSTITUTIONS. Cosmopolitan National Followed by Smaller Trust Company. Pittsburg, Sept. 5.-Two financial institutions, the Cosmopolitan National Bank and the Mount Washington Savings and Trust Company, were closed here to-day by orders from the federal and state banking authorities. While the Cosmopolitan National Bank was a fair sized institution, the trust company was a small concern, and there was little or no excitement when the failures became known. The national bank was closed a few minutes after 9 o'clock this morning and the trust company at 11:30 a. m., but the latter suspension could not be confirmed until late this afternoon. The order closing the Cosmopolitan Bank was brought forth by the refusal, it is said, of Bank Examiner John B. Cunningham to approve some of the paper and other securities of the bank for loans aggregating, it is alleged, over $1.000,000. However, the officials of the bank deny that worthless or insufficient securities have been accepted for loans. They say all the paper and other collateral held by the Cosmopolitan is collectible and that the bank is solvent and able to pay all its liabilities. Further than to state that the bank is insolvent neither Examiner Cunningham nor Judge Oldham, of the legal department of the Controller of the Currency, who arrived here from Washington early to-day, would commit himself. According to the bank's last statement its liabilities were $1,861,830.96. The bank's offlcials seemed to be very indignant that the government should close the institution, and the cashier, D. J. Richardson, stated that none of them had any intimation that the bank was in trouble until Examiner Cunningham closed the doors. He declared that the available cash on hand was nearly 50 per cent of the total deposits. Included in the deposits are federal and state deposits of $100,000. each secured by bond. Robert Lyons, who is the receiver for the Allegheny National Bank, which recently failed here, was appointed receiver of the Cosmopolitan. John McClurg is the bank's president. The reason for closing the Mount Washington Savings and Trust Company has not vet developed. It is believed, however, that the trouble of the Cosmopolitan Bank was the cause. The vice-president of the trust company is also a director of the national bank. The capital stock of the trust company is $125,000. Its deposits were $60,000, with loans and discounts of $141,000 and assets said to aggregate $200,000. State Bank Examiner James M. Cover said the institution was closed by Banking Commissioner Berkey because of apparent irregularities. While he knew little of the condition of the bank, he believed it would be possible to adjust the irregularities SO that the doors could be opened for business next Tuesday morning as usual. "I understand," said he, "that there is nothing materially wrong and that the funds of the bank are intact." Harrisburg, Penn., Sept. 5.-The State of Pennsylvania had $100,000 of sinking fund money on deposit in the Cosmopolitan National Bank of Pittsburg. The state is protected by bonds aggregating $175,000. State Treasurer Sheatz is in touch with the banking people at Pittsburg, and will take the usual course to recover the money.

8. September 6, 1908 The Brunswick News Brunswick, GA
Article from The Brunswick News, September 6, 1908

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A PITTSBURG BANK FAILED YESTERDAY PITTSBURG, Sept. 5.-The Cosmopoitan National Bank was closed this morning by order of the Comptroller of the Currency. Robert Lyons was appointed receiver. The federal officials refuse information and the bank officials are indignant, declaring that the closing of the bank was uncalled for. The bank's liabilities are approximately $1,000,000. The assets are said to be in excellent condition.

9. September 6, 1908 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, September 6, 1908

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TWO PITTSBURG BANKS SUSPEND; ASSETS 'PAPER' SECURITIES OF BOTH FIRMS DECLARED WORTHLESS OVER MILLION DOLLARS LOANED ON FLIMSY COLLATERAL Investigation of Examiners Leads to Order Shutting Doors of Mount Washington Trust and Cosmopolitan Companies By Associated Press. ITTSBURG, Sept. 5.-Two financial institutions, the Cosmopolitan P National bank and the Mount Washington Savings and Trust company, were closed today by orders from the federal and state banking authorities. While the Cosmopolitan National bank was a fair-sized concern, the trust company was a small concern, and there was little excitement. The order closing the Cosmopolitan was brought forth by the refusal, it is said, of Bank Examiner John B. Cunningham to approve some of the paper and other securities of the bank for loans aggregating, it is said, over $1,000,000. The officials of the bank deny that worthless or insufficient securities have been accepted for loans. Declare Bank Solvent They say all the paper and other collateral held by the Cosmopolitan is collectable and that the bank is solvent. Further than to state that the bank is insolvent neither Examiner Cunningham nor Judge Oldham of the legal department would commit themselves. According to the bank's last statement its liabilities were $1,261,830.96. Included in the deposits are federal and state deposits of $100,000, each secured by bond. Robert Lyons, who is the receiver for the Allegheny National bank, which recently failed here, was appointed receiver of the Cosmopolitan. The vice president of the Mount Washington Savings and Trust company is also a director of the National bank.

10. September 6, 1908 The Pensacola Journal Pensacola, FL
Article from The Pensacola Journal, September 6, 1908

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LIABILITIES ARE $1,861,830.96 Cosmopolitan National Bank is Said to Have Had Over One Million Dollars Worth of Loans on Paper That Authorities Wouldn't Approve. By Associated Press. Pittsburg, Sept. 5.-Two financial institutions, the Cosmopolitan National Bank, and Mount Washington Savings and Trust Company, were closed here today by orders from the federal and state authorities. While the Cosmopolitan was a fairsized institution, the trust company was a small concern and there was little or no excitement when the failures became known. The order closing the Cosmopolitan bank was brought forth by a refusal it is said, of Brank Examiner John B. Cunningham, to approve some of the paper and other securities of the bank for loans aggregating, it is alleged, over $1,000,000. However, the officials of the bank deny that worthless or insufficient, securities have been accepted for loans. According to the bank's last statement its liabilities were $1,861,830.96. Robert Lyons, who is receiver for the Allegheny National bank, which recently failed, was appointed receiver for the Cosmopolitan. The reason for closing the Mount Washington Savings and Trust Company have not yet developed. It is believed, however, that the trouble of the Cosmopolitan was the cause. The vice president of the trust company is a director of the national bank.

11. September 6, 1908 The Richmond Palladium and Sun-Telegram Richmond, IN
Article from The Richmond Palladium and Sun-Telegram, September 6, 1908

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BANK INSPECTOR WAS INTOXICATED Charge Made by Officials of Cosmopolitan National Bank of Pittsburg. I NO DENIAL IS OFFERED. INSPECTOR HAS EXCELLENT RECORD BUT EVIDENCE PRESENTED SEEMS TO BE AGAINST HIM IN ALL WAYS. Pittsburg, Pa., Sept. 5.-With the closing of the Cosmopolitan National Bank, there followed serious charges against Bank Examiner John B. Cunningham, who made an examination of the bank with almost 50 per cent of its capital reserve intact and the bank in better condition than it was when the last report was accepted by the comptroller of currency. The bank was closed by order of the comptroller of currency. It is charged by E. A. Kitzmiller, vice president and Chas. A. Muhlbronner, a director, that examiner Cunningham was intoxicated when he closed the bank and did not know what he was doing. Mr. Kitzmiller said he will make an affidavit and prove it by witnesses, that Cunningham was under the influence of liquor when he entered the bank and posted the notice. The officials also claim that the bank is perfectly solvent, which wil be proven. Robert Lyons was appointed receiver and, took charge. He was joined by F. F. Oldham, attorney for the comptroller of currency. Cunningham has an excellent record having unearthed the irregularities at the Enterprise National Bank and at The Farmers' and Drovers' National Bank, Waynesburg, Pa. President Kitzmiller, in the absence of John McClurg, the president said: "I can only account for the closing of the bank by the fact that Cunningham was drunk, and has been drunk for some time. His condition is known to everyone. It is common talk that only a few nights ago he fell down the steps of the DuQuesne club while drunk, and every time he visited the bank he was under the influence of liquor. Cunningham had every appearance of being under the influence of liquor." Mr. Kitzmiller's remarks were confirmed by others.

12. September 7, 1908 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, September 7, 1908

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COSMOPOLITAN OFFICIALS APPEAL TO WASHINGTON Pittsburg, Sept 7.-The directors of the Cosmopolitan National bank, which was closed by order of the comptroller of the currency Saturday will meet tomorrow and formulate a demand upon the government officials at Washington that the bank be re-opened and allowed to continue business. They will insist that the institution is solvent and that the act of the comptroller was not warranted. National Bank Examiner John B. Cunningham. whose examinaion of the bank books resulted in the comptroller's order that it be closed, denies that he was intoxicated when he made the examination or went to the bank Saturday morning and posted the notice that closed the Institution, as alleged. Cunningham was accompanied to, the bank Saturday morning by Judge F. F. Oldham, legal adviser to the comptroller of the currency, who came to Pittsburg to assist Cunningham in the examination of the Cosmopolitan. Receiver Robert Lyon and three government accountants began work on the bank accounts today. The receiver says it will be several days before he will be able to make a report to the comptroller.

13. September 7, 1908 New-York Tribune New York, NY
Article from New-York Tribune, September 7, 1908

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BANKERS INDIGNANT MOSMOPOLITANTO APPEAL Trust Company Will Reopen-Examiner Says He Was Not Drunk. [By Telegraph to The Tribune.) Sept. 6.-Officials of the Cosmopolitan yesterday by National Pittsburg. Bank, Controller which of was the closed Currency of the on recomB. Cunninga meeting would the an appeal for made ender mendation be beld him be announced of first to Bank the of to-night the Controller Examiner week, that at of John the which Currency to open as it is emission the bank. they declare A. of bank, glivent. E Kitzmiller, vice-president the Examiner in the reterated Conningham closing to-night institution. had overstepped of his the statement most his that authority To-day thirty-one prominent bankers were seen one stated that heard no at the Coshe of had Pittsburg reports and of each trouble they mopolitan Bank previous to the closing. This, is as usually know trouble was on for as is usually when claimed, calied most aid exists. unusual, bank prior is to None in the trouble. bankers closing, of the. Bankers banks when a genare over declare during banks erally the that case indignant discriminated the last few against months the closing by Pittsburg the and bank have been examiners. Regarding the rumors that he was under the of liquor when he closed the bank, Exseen, sent aminer influence Cunningham, who refused to be "I geny was Comword: The Mount Washington emphatically Savings that I and Trust drunk." a state was yespany, Examiner institution, J. M. which Cover, closed terday by according to statements issued by its officers to-night, will open for business as usual Tuesday morning, to-morrow being a legal holiday. The notice closing the bank was posted shortly before noon on Saturday, and remained up only 8 short time. but as banks close on Saturday afternoons DO further business was done yesterday. George M. Gordon, secretary and treasurer of the trust company. in a statement issued to-night says Examiner Cover called at the bank about 10 effect of Bank have on company, was ado'clock the would closing yesterday the the morning Cosmopolitan trust and asked National and what ised that while the Cosmopolitan was a reserve repository, the balance with it at present was only $4,000, and the closing would have no maarial effect. "About 11:30 o'clock he called again," the statement continues, "saying that he had instructions from Commissioner Berkey to close up: he put a notice on the door and drew down the blinds. He alled Mr. Berkey by telephone, and after a lengthy conversation with him ordered the sign taken down. He remained for a few minutes, and my presence told different persons that a misake had been made, and that we would be open usual on Tuesday morning. "He also authorized me to tell inquirers the same. He made no explanation to the crowd which milected after the notice was posted. "Our reserve funds at present are very much above legal requirements, and while I do not know what the action of the board will be I see no reason why business cannot be resumed as usual, unless we have suffered irreparable injury from the posting of the notice and the spreading of the rumor. Within the last ten days our bank was examined by State Bank Examiner White, who reported to us that we were in better condition than ever before." A. L. Richmond, jr., a director of the Cosmopolitan. is vice-president of the trust company.

14. September 7, 1908 Evening Star Washington, DC
Article from Evening Star, September 7, 1908

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"I WAS NOT DRUNK' Bank Examiner Cunningham Denies Financiers' Charges. CONCERN CLOSED MAY SUE Pittsburg Bankers Declare Cosmopolitan Appears Solvent. CASHIER DECLARES IT SOUND Chief of Insolvency Division of Treasury, Judge F. F. Oldham, May Make Investigation. PITTSBURG. September 7.-Indignation over the mysterious closing of the Cosmopolitan National Bank of Pittsburg Saturday. and over the attempt to close the Mount Washington Savings and Trust Company. is expressed by thirty-one of the leading bankers of Pittsburg. who say they had no knowledge of anything wrong at the Cosmopolitan Bank. Most of them had daily dealings with it. The charge that Bank Examiner John B. Cunningham was intoxicated at the time of his examination of the bank's books is mush discussed. That the controller of the currency, who has been asked to investigate Cunningham, has taken official notice of the matter was shown here last night when Judge Francis F. Oldham, chief of the insolvency division of the Treasury Department, admitted that he had been ordered to remain in Pittsburg indefinitely. "I was not drunk," was all Cunningham would say yesterday when asked for a statement. Directors of the Cosmopolitan Bank will hold a meeting Tuesday, when an appeal will be made to the controller of the currency for permission to reopen the bank, on the ground that. there was no cause for its being closed. E. A. Kitzmiller. vice president of the bank, one of those to charge Cunningham with being intoxicated. is practically at the head of the institution, John McClurg. the president. being seriously ill with tuberculosis. Closed Bank May Bring Suit. James M. Cover. the state banking examiner, who closed the Mount Washington Savings and Trust Company, is not to be found. It is alleged that he left the city. E. Weiler. vice president, said yesterday that the bank will make an attempt to open Tuesday. but If it is apparent that a run will follow. which will criple the institution, the doors will be closed and action will be begun against the state authorities for damages. Robert Lyons. receiver of the Cosmopolitan Bank, was asked if he had read the charge that Cunningham was intoxicated. "I am sorry that this matter has become public," he replied. "Cunningham is an excellent fellow." The thirty-one prominent bankers seen yesterday expressed their surprise at the closing of the banks. The consensus of opinion was that the Cosmopolitan was in good condition financially and that they would have known It had there been any trouble. Opinions of Bankers. Robert Wardrop, one of them. said: "It is the custom, in cases of this kind, for a bank, if it is in trouble, to appeal to the other banks. Invariably assistance is given, as far as possible. I know of no such appeal having been made by the Cosmepolitan." Statements of a similar nature were made by the other bankers seen.

15. September 7, 1908 Evening Star Washington, DC
Article from Evening Star, September 7, 1908

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PITTSBURG BANK FLURRY. Mount Washington Savings Institution Likely to Reopen Tomorrow. PITTSBURG, September 7.-The Mount Washington Savings and Trust Company, a state Institution, which was closed Saturday by Examiner J. M. Cover, will, according to statements issued by its officers last night, open for business as usual Tuesday morning, today being a legal holiday. The notice closing the bank was posted shortly before noon Saturday and remained up but a short time, but as banks close Saturday afternoons, no further business was done that day. George M. Gordon, secretary and treasurer of the trust company, in a statement issued last night, says Examiner Cover called at the bank about 10 o'clock Saturday morning and asked what effect the closing of the Cosmopolitan National Bank would have upon the trust company. and was advised that while the Cosmopolitan was a reserve depository the balance with it at present was only $4,000, and the closing would have no material effect. "About 11:30 he called again," the statement continues, "saying that he had instructions from Commissioner Berkey to close us, put a notice on the door and drew down the blinds. He called Mr. Berkey by telephone, and after a lengthy conversation with him ordered the sign taken down. He remained for a few minutes and in my presence told different persons that a mistake had been made. and that we would be open as usual Tuesday morning. "He also authorized me to tell inquirers the same. He made no explanation to the crowd which collected after the notice was posted. "Our reserve funds at present are very much above legal requirements, and while I do not know what the action of the board will be I see no reason why business cannot be resumed as usual, unless we have suffered irreparable injury from the posting of the notice and the spreading of the rumor. Within the last ten days our bank was examined by State Bank Examiner White, who reported to us that we were in better condition than ever before." President H. W. Gleffer and Secretary George M. Gordon denounced the closing of the bank half an hour before regular closing time Saturday as an outrage. "If such a thing as this can be done legally." said Gordon, "it will be possible to bankrupt every bank in Pennsylvania. This 'accidental' closing might just as well happen to a large institution, causing a tremendous run, as on a small banking house like ours.' A. L. Richmond, jr., a director of the Cosmopolitan. is vice president of the trust company.

16. September 10, 1908 Courier Democrat Langdon, ND
Article from Courier Democrat, September 10, 1908

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SAY BANK IS SOLVENT. Directors Demand That Institution Be Reopened. Pittsburg, Sept. 8.-The directors of the Cosmopolitan National bank which was closed by order of the comptroller of the currency Saturday, met and formulated a demand upor the government officials at Washing ton that the bank be reopened and allowed to continue business. They in sist that the institution is solvent and that the action of the comptroller was not warranted. Receiver Robert Lyons and three government accountants have begun work on the bank's accounts. The receiver says it will be several days before he will be able to make a report to the comptroller.

17. September 10, 1908 Reporter and Farmer Webster, SD
Article from Reporter and Farmer, September 10, 1908

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SAY BANK IS SOLVENT. Directors Demand That Institution Be Reopened. Pittsburg, Sept. 8.-The directors of the Cosmopolitan National bank, which was closed by order of the tomptroller of the currency Saturday, miet and formulated a demand upon the government officials at Washington that the bank be reopened and allewed to continue business. They inBist that the institution is solvent and that the action of the comptroller was not warranted. Receiver Robert Lyons and three government accountants have begun work on the bank's accounts. The receiver says it will be several days before he will be able to make a report to the comptroller.

18. September 11, 1908 The Midland Journal Rising Sun, MD
Article from The Midland Journal, September 11, 1908

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BY TELEGRAPH Domestic Directors of the Cosmopolitan National Bank, of Pittsburg, will demand that the institution be allowed to continue business. They insist that the comptroller's action in closing it was unwarranted. A man who gave the name of William Hatfield, but who is thought to be James C. Durham, charged with the murder of six people in California, is under arrest in Texas. Several Japanese are reported to have been killed as the result of a bloody feud between Japanese and Portugese at the Alaskan salmon canneries. Gisainto Rosino murdered the daughter of Dominick Scionto, whom he was visiting, in Cliffwood, N. J., after having criminally assaulted Acting Attorney General Hayden Clement, of Raleigh, N. C., has declared that his State cannot accept or care for John R. Early, of Lynn, N. C., a leper, now quarantined in the District of Columbia. The late Frederick Cooper Hewitt bequeathed $2,000,000 to the New York Post Graduate Medical School and Hospital, $1,500,000 to the Metropolitan Museum of Art and $500,000 to Yale University. Judge Vandeventer, in the United States Circuit Court at St. Paul, granted the injunction asked for by roads operating in Arkansas, and which prevents the enforcement of the two-cent rate. Some unknown person put dynamite in the chimney at the home of John Silock, Laurel Hill, Pa., and Mrs. Silock and her son were injured. An effort made to have Harry K. Thaw transferred from the Poughkeepsie Jail failed. He will remain where he is until the hearing this month. Orville Wright mace a flight in the aeroplane he made for the Signal Corps in the presence of a number of Army officers at Fort Myer. Mrs. O. L. Godfrey, wife of a wealthy Colorado Springs banker, is in Chicago being treated for rabies, having been bitten by a pet dog. J. Pierpont Morgan and Charles Steele have returned from a trip to Europe and report conditions as quite satisfactory. A panic in a Chicago street car resulted in the death of a baby, which was knocked to the floor and trampled upon. Chief of Police Woodruff, of Atlantic City, claims to be on the trail of a new suspect in-the Roberts shooting case, declaring that neither jealousy nor robbery was the motive for the crime, and that he expects to make an arrest in a few days. Dr. Bellisario Arrutia Suarez, private secretary of President Figueroa, of San Salvador, who is in New York, says there is no friction between his country and the Central American republics. The Iron Trade Review of Cleveland declares August has been the best month of the year in the iron business, and looks for a satisfactory condition of the industry by January 1, 1909. City Engineer Keefe, of New York, says the introduction of electricity in the operation of railroads tends to increase the amount of coal used. The Detroit police are investigating the death of a woman, who was reported as drowned, but who was afterward found to have a broken neck. Dr. J. D. Burke, principal of the Teachers' Training School, at Albany, N. Y., has returned from an investigating trip to the Philippines. The Pittsburg Police have found a letter which may help in identifying the man who burned his face with acid before killing himself there. The hearing of the suits brought by the government against various powder concerns will be heard at Wilmington, Del., September 22. Mrs. Bertha Gresham, widow of Lieutenant Gresham, United States Navy, has been kidnapped from her New York home. Fire at Cleveland, O., destroyed

19. September 15, 1908 The Fargo Forum and Daily Republican Fargo, ND
Article from The Fargo Forum and Daily Republican, September 15, 1908

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BANK EXAMINER® IS EXONERATE WHO OFFICIAL GOVERNMENT CLOSED PITTSBURG INSTITUTION ACTED PROPERLYWAS NOT DRUNK. Washington, Sept. 15.-John B. Cunningham, the national bank examiner, who recently closed the Cosmopolitan National Bank of Pittsburg, was in Washington today in consultation with Comptroller Murray and Judge Oldham, who has charge of the insolvent national bank section in the comptroller's office in regard to the affairs of the failed bank. Deputy Comptroller Kane stated that the receiver of the bank has reported that its affairs are in quite as bad, if not in a worse condition than Examiner Cunningham had discovered at the time he closed the bank. A careful inquiry has been made of the published statement that Mr. Cunningham had been drinking, and it is stated at the department that not only has no proof been found, but the parties who are supposed to be responsible for the original charge are said to have made to Mr. Cunningham statements in writing disclaiming responsibility for the story.

20. September 23, 1908 The Washington Times Washington, DC
Article from The Washington Times, September 23, 1908

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JOHN A. DIX. He is the man nominated by the Democrats for second place on the New York State ticket, of which Lewis Stuyvesant Chanier is the head. # MURRAY CALLS IN # BANK RECEIVERS Comptroller of Currency Gives Order for Conference in Capital October 5. Following close upon the heels of the talks which he has given the na-tional examiners, Comptroller of the Currency Lawrence O. Murray this morning issued orders calling to Washington the receivers of the insolvent national banks in the East. The conference will begin October 5, and will be devoted to discussion of many topics pertaining to receiverships. At present, there are sixteen receivers who are affected by the Comptroller's order. While it is not so stated, it is entirely possible that the recent closing of the Cosmopolitan National Bank of Pittsburg by Receiver Cunningham, who it was alleged at the time, was intoxicated, as well as the desire of the new Comptroller to thoroughly inspect and then thoroughly drill his men, are responsible for this new order. According to the Comptroller's office, the session of the examiners this morning was a mild affair, and Mr. Murray refrained from using more of the hot shot he poured at the heads of the conferees Monday.

21. November 3, 1908 The Morris County Chronicle Morristown, NJ
Article from The Morris County Chronicle, November 3, 1908

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# Bank Near $1,000,000 Short. The Cosmopolitan National Bank of Pittsburg, which is now in the hands of a receiver, appears to be short something like $1,000,000.