16699. Exchange Bank (Pittsburg, PA)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
state
Start Date
December 31, 1861
Location
Pittsburg, Pennsylvania (40.441, -79.996)

Metadata

Model
gpt-5-mini
Short Digest
40fb73262d4c9855

Response Measures

None

Description

Article (Daily Ohio Statesman, 1862-01-03) cites the Pittsburgh Post reporting that the Exchange Bank (Pittsburgh/Allegheny) suspended payment around Dec 31, 1861. A later 1906 Albuquerque article refers to the defunct Exchange bank, of Allegheny, Pa. and its receiver, indicating the bank did not resume long-term operations and was in receivership by that date. No explicit contemporaneous run is described in these excerpts.

Events (2)

1. December 31, 1861 Suspension
Cause Details
Contemporary notice of suspension in Pittsburgh Post; article does not state a specific cause (OCR excerpt only states suspension).
Newspaper Excerpt
the Citizens', Exchange, Merchants' and Manufacturers, and Allegheny Banks had suspended the day previous.
Source
newspapers
2. March 3, 1906 Receivership
Newspaper Excerpt
the defunct Exchange bank, of Allegheny, Pa., it was convinced ... the Exchange bank, or its receiver, or its funds, has nothing whatever to do with any possible sale ...
Source
newspapers

Newspaper Articles (2)

Article from Daily Ohio Statesman, January 3, 1862

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Article Text

More Bank Suspensions, The Northern Bank of Kentucky, at Louisville, has suspended specie payment. The Pittsburgh Post, of Jan. 1, states that the Citizens', Exchange, Merchants' and Manufacturers, and Allegheny Banks had suspended the day previous.


Article from Albuquerque Evening Citizen, March 3, 1906

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Article Text

Knows of No Negotiations With Parties Named, the Gould Syndicate. # REPORT AN UNMITIGATED FAKE Special to The Evening Citizen. Pittsburg, Pa., March 3.-I know of no negotiations with parties you mention. We expect to complete the lines under con- struction. F. J. TORRANCE. Thus is another fake sidetracked. When The Citizen read this morning the Journal's rehash of its old and often exploded fabrications concern- ing the connection of the Santa Fe Central with the defunct Exchange bank, of Allegheny, Pa., it was con- vinced that the remainder of the arti- cle was equally without foundation. At once General Torrance was tele- graphed, and the foregoing reply was received. It is plain that the Exchange bank, or its receiver, or its funds, has noth- ing whatever to do with any possible sale of the Santa Fe Central; that there has not been any negotiations for a sale with the Gould or any other syndicate; that the owners of the Central have neither necessity nor desire to sell; and that the company will itself complete the Hagan branch and the Albuquerque Eastern railway. These are all matters of congratula- tion to the people of this city, and it is useless for any by-fake stories to try to injure the Santa Fe Central or to shake the confidence of Albuquer- queans in its solvency and in the speedy building of the Eastern.