16718. German National Bank (Pittsburg, PA)

View Charter #2261 on SPMC

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
2261
Charter Number
2261
Start Date
October 18, 1898
Location
Pittsburg, Pennsylvania (40.441, -79.996)

Metadata

Model
gpt-5-mini
Short Digest
a178913e9b143b93

Response Measures

Accommodated withdrawals, Full suspension, Books examined

Description

October 1898: failure of President Adolph (A.) Groetzinger, heavy judgments and bad loans/Natalie Coal paper precipitated a run and directors closed the bank for voluntary liquidation. Bank examiner placed in charge; Comptroller later appointed examiner temporary receiver. Bank resumed operations in late January 1899, paying depositors in full.

Events (6)
1. May 17, 1875 Chartered
Source
historical_nic
2. October 18, 1898 Run
Cause
Bank Specific Adverse Info
Cause Details
Failure/financial embarrassment of president Adolph (A.) Groetzinger, heavy judgments against Groetzinger family and large loans on insufficient collateral (Natalie Coal & Coke exposure) triggered depositor withdrawals.
Measures
Directors closed the doors and placed the bank into voluntary liquidation; bank examiner (Hugh Young) placed in charge; clearing house committee supported suspension.
Newspaper Excerpt
The report states that the failure of Mr. Adolph Groetsinger, the president of the bank, resulted in a run, and the directors closed the doors for the purpose of voluntary liquidation.
Source
newspapers
3. October 18, 1898 Suspension
Cause
Voluntary Liquidation
Cause Details
Directors decided to suspend payments and go into voluntary liquidation because portion of assets were not immediately available and to protect depositors while assets were realized; precipitated by Groetzinger judgments and bad loans.
Newspaper Excerpt
At a meeting ... the directors ... resolved that ... it seems best to close the bank for the equal protection of all the depositors and go into voluntary liquidation ... the bank is closed
Source
newspapers
4. November 4, 1898 Other
Newspaper Excerpt
the Comptroller of the Currency has appointed ... Hugh Young for the German National Bank of Pittsburg ... temporary receivers ... This act ... will not interfere ... with the efforts of the officers ... to put the banks into condition for voluntary liquidation, and the Comptroller announced that he will not consent to the voluntary liquidation of these institutions, and will discharge the receivers when assured of the ability of the banks to meet their obligations in full.
Source
newspapers
5. January 23, 1899 Reopening
Newspaper Excerpt
The German National bank, which suspended payment on October 18 last, will resume business on Monday with a capital of $250,000. There is enough cash on hand to pay every dollar the bank owes ... and all claims will be paid on demand.
Source
newspapers
6. November 19, 1934 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (24)
1. October 19, 1898 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, October 19, 1898

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NATIONAL BANK CLOSED GERMAN, OF PITTSBURG, EMBARRASSED BY A FAILURE. Payment of Depositors Suspended on Account of the Assignment of a Tannery Company. PITTSBURG, Oct. 18.-"Upon examination of the books of the German National Bank the directors have decided not to open in the morning. If the depositors only give us time we believe that we will pay dollar for dollar." The foregoing frank statement was dictated by President Myers late to-night. No cause is assigned, but the reason for the failure at this time of what has for years been generally considered one of the strongest financial institutions in the State is conceded to be the assignment of the Allegheny tanning firm of A. Groetzinger & Sons. The directors of the bank have prepared this announcemente of the bank's failure: "At a meeting of the board of directors held at the bank this day at 6 p. m., the following resolution was adopted: "Resolved, That after a thorough examination by the bank examiner, clearing house committee and directors of the bank, all being unanimous in the opinion that the bank is solvent, that owing to the fact that a portion of the assets are not immediately available; that under the advice of all it seems best to close the bank for the equal protection of all the depositors and go into voluntary liquidation and the full assurance that at an early date we will be able to pay all its depositors in full, therefore the bank is closed and the directors hereby recommend as liquidation committee E. H. Myers, H. H. Niemann, A. Frauenheim." The connection between the Groetzingers and the German National Bank, of Pittsburg, was very close, the firm's paper not only being discounted at the bank, but Mr. Adolphus Groetzinger, having been a director in the bank for years and until recently its president. Several days ago he resigned as president and was succeeded by E. H. Myers, who was then vice president, the new vice president being Mr. A. Frauenheim.

2. October 19, 1898 Albuquerque Daily Citizen Albuquerque, NM
Article from Albuquerque Daily Citizen, October 19, 1898

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BIG BANK FAILURE. One of the Pittsburg National Banks Closes Its Doors. Great Activity in the French Naval Arsenal at Toulon. Death of Chicago's Famous Police Inspector, John Boufield. HEALTH OF A CHINESE EMPEROR. Pittsburg, Oct. 19.-The German National bank has gone into voluntary liquidation. The suspension can be traced to two causes, the carrying of too many securities of the Natalie Coal and Coke Co., and large loans on insufficient collateral. The final stroke was the confession of heavy judgments by Adolphus, William C. and O. H. Groetzinger and A. Grcetzinger & Son to Edward Groetzinger and the issuance of executions. A Groetzinger was president. His financial troubles, it is said, was caused principally by the failure of the Munson Belting company in Chicago last week. Since its organization in 1884, the bank has paid nearly a million dollars in dividends. September 27. when the last statement of the bank was published, the surplus had been reduced from $500,000 to $250,000. The bank examiner had ordered that the paper of the Natalie Coal company should be deducted from the surplus and it had to be done. The last statement showed individual deposits of $1,650,000; loans and discounts. $1,158,000; capital stock paid in $250,000. Bank Examiner Young says that the securities held by the bank is ample to pay depositors dollar for dollar.

3. October 20, 1898 New-York Tribune New York, NY
Article from New-York Tribune, October 20, 1898

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PITTSBURG BANK FAILS. VOLUNTARY LIQUIDATION OF THE GERMAN NATIONAL INSTITUTION-FINANCIAL DIFFICULTIES OF THE PRESIDENT. Pittsburg, Oct. 19.-Notwithstanding the rumors that have been afloat for some time concerning the financial straits of the German National Bank of this city, the announcement this morning that the bank had gone into voluntary liquidation caused great surprise, and many depositors hurried to the bank to find the doors closed. The suspension of the bank can be traced directly to two causes, the carrying of too many securities of the Natalie Coal and Coke Company and large loans on insufficient collateral. The beginning of the difficulty was nearly a year ago, when the Natalie company's paper became the object of much intricate litigation, in which the German National Bank figured. This was followed a few weeks ago by the sudden retirement of O. C. Burgdorff as cashier. The final stroke was the confession of heavy judgments by Adolphus, William C. and O. H. Groetzinger, and A. Groetzinger & Sons to Edward Groetzinger, and the issuance yesterday of executions. A Groetzinger was president of the bank, and his financial troubles, it is said, were caused principally by the failure of the Munson Belting Company, in Chicago, last week. Other heavy losses are said to have been sustained, but it was supposed the large personal wealth of the family would enable the firm to tide over the difficulty. It is said that some time ago the Groetzingers secured a contract for many thousand shoe soles from an Eastern firm, but through a misunderstanding of orders singles instead of pairs were made, and on this transaction alone $90,000 was lost. The German National Bank was organized in 1864 and reorganized in 1884. At the beginning of the present year its capital stock was $250,000; surplus, $500,000, and undivided profits, $2,208 17. Last year it was paying dividends at the rate of 12 per cent per annum, and since its organization it has paid nearly $1,000,000 in dividends. It was rumored that the State Treasurer had $450,000 on deposit in the bank, but this was denied by the directors. Washington, Oct. 19.-Bank Examiner Young has reported to the Controller of the Currency that in his judgment th German National Bank of Pittsburg, which closed its doors yesterday, is solvent. The report states that the failure of Adolphus Groetzinger, the president of the bank. resulted in a run, and the directors closed the doors for the purpose of voluntary liquidation. The Clearing House Committee agreed with the directors that this was the best thing to do. The capital of the bank is $250,000. and at the time of the last report, September 30. the surplus amounted to $253,347 due individual depositors, $1,730,688; due National banks and bankers, $359,123; total resources, $2,637,708. The correspondents in this city of the German National Bank of Pittsburg are the National City, Hanover National and Importers and Traders' National banks. As far as could be learned, all are amply protected against loss through the failure.

4. October 20, 1898 The Evening Herald Shenandoah, PA
Article from The Evening Herald, October 20, 1898

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German National Bank Solvent. Washington, Oct. 20.-Bank Examiner Young has reported to the comptroller of the currency that in his judgment the German National bank, of Pittsburg, which closed its doors on Tuesday, is solvent. The report states that the failure of Mr. Adolph Groetsinger, the president of the bank, resulted in a run, and the directors closed the doors for the purpose of voluntary liquidation. The clearing house committee agreed with the directors that this was the best thing to do, and the suspension followed.

5. October 20, 1898 Barre Evening Telegram Barre, VT
Article from Barre Evening Telegram, October 20, 1898

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GERMAN BANK FAILURE Causes of the Collapse of Pittsburg Institution. LOANSON POOR COLLATERAL Bank Examiner In Charge Says Depositors will Be Paid Dollar For Dollar-Rumors of Weakness Long Current. Pittsburg, Oct. 20.-Notwithstanding the rumors that have been afloat for some time concerning the financial straits of the German National bank of this city, the announcement that the bank had gone into voluntary liquidation caused great surprise, and many depositors hurried to the bank to find the doors closed. Outside a small crowd assembled, but there was no excitement. The suspension of the bank can be traced directly to two causes, the carrying of too many securities of the Natalie Coal and Coke company and large loans on insufficient collateral. The beginning of the difficulty was nearly a year ago, when the Natalie company's paper became the object of much intricate litigation, in which the German National bank figured. This was followed a few weeks ago by the sudden retirement of O. C. Burgdorf as cashier. The final stroke was the confession of heavy judgments by Adolphus, William C. and O. H. Groetzinger and A. Groetzinger & Sons to Edward Groetzinger, and the issuance Tuesday of executions. A. Groetzinger was president of the bank, and his financial troubles, it is said, were caused principally by the failure of the Munson Belting company, in Chicago, last week. Other heavy losses are said to have been sustained, but it was supposed the large personal wealth of the family would enable the firm to tide over the difficulty. The bank was organized in 1864 and reorganized in 1884. At the beginning of the present year its capital stock was $250,000; surplus, $500,000, and undivided profits, $2,208.17. Last year it was paying dividends at the rate of 12 per cent per annum, and since its organization has paid nearly $1,000,000 in dividends. Rumors of Weakness. About the middle of September there were rumors of the bank's weakness, caused by the resignation at that time of O. C. Burgdorf, for a long time cashier of the institution. Sept. 27, when the statement of the bank was published, these rumors were revived, as it was seen that the bank's surplus had been reduced from $500,000 to $250,000. This reduction was explained by President Groetzinger at the time as being caused by the interest carried by the bank in the Natalie Coal company. The bank examiner had ordered the paper of the coal company deducted from the surplus, and it had to be done. Since Mr. Burgdorf's resignation the assistant cashier, J. H. E. Wessler, has acted as cashier. The gossip about the bank's affairs never subsided, and it is now claimed that many of the most wary depositors have been withdrawing their money. Others have been content to await the next report to see if the surplus would be still further reduced. if that were legal. The last statement showed individual deposits of $1.650.000; loans and discounts, $1,158,000; capital stock paid in, $250,000; surplus fund. $250,000. It was rumored that the state treasurer had $450,000 on deposit in the bank. but this was denied by the directors. They stated that the deposit had been reduced, if not entirely eliminated, since James S. Beacom became state treasurer. Bank Examiner Young is now in charge. He says the securities held by the bank are ample to pay all depositors dollar w for dollar.

6. October 20, 1898 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, October 20, 1898

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BANK FAILURE IN PITTSBURG GERMAN NATIONAL COMPELLED TO CLOSE ITS DOORS. Business Entanglements of President Groetsinger Precipitate a RunBank Examiner In Charge. Pittsburg, Oct. 19.-Notwithstanding the rumors that have been afloat for some time concerning the financial straits of the German National Bank of this city, the announcement this morning that the bank has gone into voluntary liquidation caused great surprise and many depositors hurried to the bank to find the doors closed. A small crowd assembled, but there was no excitement. The suspension of the bank can be traced directly to two causes, the carrying of too many securities of the National Coal & Coke company, and large loans on collateral. The last statement showed individual deposits of $1,650,000; loans and discounts $1,158,000; capital stock paid in $250,000; surplus fund $250,000. It was rumored that the state treasurer had $450,000 on deposit in the bank, but this was denied by the directors. They stated that the deposit had been reduced, if not entirely eliminated since James S. Beacom became state treasurer. Bank Examiner Young is now in charge and has reported to the comptroller of the currency that in his judgment the bank is solvent. The report states that the failure of A. Groetsinger, the president of the bank, resulted in a run and the directors closed the doors for the purpose of voluntary liquidation. The clearing house committee agreed with the directors that this was the best thing to do and the suspension followed.

7. October 20, 1898 Delaware Gazette and State Journal Wilmington, DE
Article from Delaware Gazette and State Journal, October 20, 1898

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IS IN FINANCIAL STRAITS. The German National Bank of Pittsburg Has Gone Into Voluntary Liquidation. Associated Press Dispatch by Special Wires. Pittsburg, Pa., Oct. 19.-Notwithstanding the rumors that have been afloat for some time. concerning the financial straits of the German National Bank of this city, the announcement, this morning, that the bank had gone into voluntary liquidation caused great surprise, and many depositors hurried to the bank to find the doors closed. Outside, a small crowd assembled, but there was no excitement. The suspension of the bank can be traced directly to two causes-carrying of too many securities of the Natalie Coal and Coke Co. and large loans in insufficient collateral. The beginning of the difficulty was nearly a year ago, when the Natalie company's paper became the object of much intricate litigation, in which the German National Bank figured. This was followed, a few weeks ago, by the sudden retirement of Charles Burgdorf as cashier. The final stroke was the confession of heavy judgments by Adolphus, William C. and O. H. Groetzinger and A. Groetzinger & Sons to Edward Groetzinger, and to the issuance, yesterday, of executions. A. Groetzinger was president of the bank, and his financial troubles, it is said, were caused principally by the failure of the Munson Belting Co. of Chicago last week. Other heavy losses are said to have been sustained, but it was supposed the large personal wealth of the family would enable the firm to tide over the difficulty. It is said that, some time ago, the Groetzingers were awarded a contract for many thousand shoe soles by an eastern firm, but, through a misunderstanding of orders, singles, instead of pairs, were made, and on this transaction alone $90,000 were lost. The German National Bank was organized in 1864, and reorganized in 1884. At the beginning of the present year, its capital stock was $250,000, surplus, $500,000 and undivided profits $2,208.17. Last year, it was paying dividends at the rate of 12 per cent per annum, and, since its organization, has paid nearly $1,000,000 in dividends. About the middle of September, there were rumors of the bank's weakness, caused by the resignation, at that time. of Otto Burgdorf, for a long time cashier of the institution. On September 27th, when the statement of the bank was published, these rumors were revived, as it was seen that the bank's surplus had been reduced from $500,000 to $250,000. This reduction was explained by President Groetzinger, at the time, as being caused by the interest carried by the bank in the Natalie Coal Co. The bank examiner had endorsed the paper of the coal company deduced from the surplus,and it had to be done. Since Mr. Burgdorf's resignation, the former assistant cashier, J. E. H. Wessler, has acted as cashier. The gossip about the bank's affairs never subsided, and it was claimed today that many of the most wary depositors have been withdrawing their money. Others have been content to wait for the next report, to see if the surplus would be still further reduced, if that were legal. The last statement showed individual deposits of $1.650,000; loans and discounts, $1,158,000; capital stock paid in, $250,000; surplus fund, $250,000. It was rumored that the State treasurer had $150,000 on deposit in the bank, but this is denied by the directors. They state that the deposit has been reduced, if not entirely eliminated, since James S. Beacom became State treasurer. Bank Examiner Young is in charge. He says the securities held by the bank are ample to pay all depositors dollar for dollar.

8. October 20, 1898 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, October 20, 1898

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WILL PAY OUT. German National of Pittsburg Said to Be Solvent. Washington, Oct. 20.-Bank Examiner Young has reported to the comptroller of the currency that in his judgment the German National bank of Pittsburg, which closed its doors is solvent. The report states that the failure of Mr. Adolph Groetzinger, the president of the bank, resulted in a run and the directors closed the doors, for the purpose of voluntary liquidation. The clearing house committee agreed with the directors that this was the best thing to do and the suspension followed. The capital of the bank is $250,000 and at the time of the last report, September 30, the surplus amounted to $253, 347; due individual depositors $1,730,688; due national banks and bankers $359,123; total resources $2,637,708.

9. October 22, 1898 Martinsburg Herald Martinsburg, WV
Article from Martinsburg Herald, October 22, 1898

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German National Bank Solvent. Washington, Oct. 20.-Bank Examiner Young has reported to the comptroller of the currency that in his judgment the German National bank, of Pittsburg, which closed its doors on Tuesday, is solvent. The report states that the failure of Mr. Adolph Groetsinger, the president of the bank, resulted in a run, and the directors closed the doors for the purpose of voluntary liquidation. The clearing house committee agreed with the directors that this was the best thing to do, and the suspension followed.

10. October 28, 1898 Hot Springs Weekly Star Hot Springs, SD
Article from Hot Springs Weekly Star, October 28, 1898

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BANK DOORS CLOSED, German National of Pittsburg Goes Into Liquidation. The German National Bank of Pittsburg has closed its doors. The directors, in a public statement, announce that the bank is solvent and that all depositors will be paid in full. The suspension of the bank can be traced directly to two causes -the carrying of too many securities of the Natalie Coal and Coke Company and heavy loans to Charles Burkdorf, until recently cashier, and Adolphus Groctzinger, the present president, on insufficient collateral. The suspension of the bank was precipitated by the confession on Monday last of Adolphus, William C. and O. H. Groetzinger and A. Groetzinger & Sons to Edward Groetzinger of judgments aggregating $490,725.42.

11. November 5, 1898 The Sun New York, NY
Article from The Sun, November 5, 1898

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TEMPORARY RECEIVERS NAMED. Actions to Prevent Executions Against the Assets of Closed National Banks. WASHINGTON. Nov. 4.-Owing to the decision of Judge Lacombe of New York. that an execution can be levied against the assets of a national bank in the hands of the Comptroller of the Currency at any time prior to his formal appointment of a receiver. and to prevent further attachments upon the funds of the banks which have been closed by the examiners. the Comptroller of the Currency has appointed as temporary receivers the following examiners: William H. Kimball for the Tradesmen's National Bank of the city of New York. Hugh Young for the German National Bank of Pittsburg. Josiah Van Vranken for the First National Bank of Carthage. N. Y.: Edward J. Graham for the Delaware National Bank of Delhi, N. Y.. and Howard J. Whitmore for the First National Bank of Neligh. Neb. This act on the part of the Comptroller will not interfere in any way with the efforts of the officers of these institutions to put the banks into condition for voluntary liquidation, and the Comptroller announced that he will not consent to the voluntary liquidation of these institutions. and will discharge the receivers when assured of the ability of the banks to meet their obligations in full. Comptroller Dawes to-day received Judge Lacombe's opinion in attachment proceedings against the Tradesman's National Bank of New York. The Comptroller. in discussing the decision to-night. said he did not want to stand in the attitude of questioning Judge Lacombe's construction of the statute. but he will have the case carried to the Supreme Court. if necessary. in order to secure a construction of the statute by that tribunal. If Judge Lacombe's decision is sustained legislation will be necessary in order that assets of failed banks may be preserved for benefit of creditors. The Comptroller pointed out the effect of the decision. He said: "If Judge Lacombe's decision is right. it will have a most important bearing on the administration of bank trusts. It will enable some persons who are better informed than others as to the affairs of banks to get out writs and serve them before I have had opportunity to appoint a receiver. thus placing themselves in the position of preferred creditors. As preferred creditors get full amounts of their claims. others must necessarily suffer. This may be done in large cities in some cases. in fact. in nearly all, before I have opportunity to appoint a receiver, or possibly before I even know of the suspension of the bank. A difference of two or three hours even will enable large creditors to attach the greater part of the assets and leave other creditors holding the bag. I hold that the assets of a bank are in my possession and that I stand in the position of trustee under the law from the time the bank's doors are closed to the settlement of its affairs. and that a receiver simply acts as my agent. Pending appeal and decision by the higher courts. I have protected creditors of failed banks now without receivers by appointing examiners in charge temporary receivers.

12. November 5, 1898 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, November 5, 1898

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AGAINST OTHER PROCEEDING BANKS. Washington, Novemebr 4. -Owing to the decision of Judge Lacombe of New York that an execution can be levied against the assets of a national bank in the bands f the comptroller of the currency at any time prior to his formal appointment of a receiver, and to the fact that suits are being prepared by others in New York against the Tradesmen's National bank in Pittsburg and against the German National bank for the purpo-e of levyin ex ecution and judgment which 5 ould, if Judge Lacomb's decision is upheld, prefer certain creditors to the damage of other creditors unjustly, Charles G. Dawes, comptroller of the currency has, today. appointed the bank examiners of Pittsburg and New York temporary receivers of the German National bank of Pit burg and the Tradesmen National bank of New York, re-pectively. This action on the part of the comptroller will not interfere in any way with the efforts of the officers of these institutions to put these banks into condition for voluntary liquidation and the comptroller announces that he will consent to the voluntary liquidation of these institutions and will discharge the receivers when assured of the ability of the banks to meet their obligations in full, promised by their committee.

13. November 5, 1898 New-York Tribune New York, NY
Article from New-York Tribune, November 5, 1898

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Excel all others in Waltham Accuracy Durability Economy Watches The new Riverside movement is now ready in Gold, Silver, and Gun Metal cases Howard & Co Inspection 264 Fifth Avenue Invited New York ACTING ON JUDGE LACOMBE'S DECISION. BIG COMPANY IN SIGHT. CONTROLLER DAWES APPOINTS TEMPORARY REPURCHASE OF NASSAU RAILROAD ST CEIVERS FOR THE TRADESMEN'S AND THOUGHT TO PRESAGE AN IMOTHER NATIONAL BANKS MENSE COMBINATION. Washington, Nov. 4.-Owing to the decision of The reported sale of the controlling stoc Judge Lacombe, of New-York, that an execution the Nassau Railroad Company by R. T. W can be levied against the assets of a National bank to Edward H. Harriman is reported to be in the hands of the Controller of the Currency at first step in the direction of the consolidati any time prior to his formal appointment of a reBrooklyn and Manhattan surface railroad ceiver, and to the facts that suits are being prepanies, a combination that may also take in pared in New-York against the Tradesmen's National Bank and in Pittsburg against the German Kings County Electric Light Company. National Bank for the purpose of levying execution Roswell P. Flower and Anthony N. Brady and judgment, which would. if Judge Lacombe's said to be back of the Nassau stock purch decision is upheld, prefer certain creditors to the They are large holders of the securities of da.nage of other creditory unjustly. Controller Metropolitan Street Railway, of Manha Dawes to-day appointed the bank examiners at which is introducing electricity, and which Pittsburg and New-York temporary receivers of riman is thought to represent more than he the German National Bank and the Tradesmen's National Bank respectively. Brooklyn Rapid Transit. They also hold This action on the part of the Controller will not stock in the Kings County Electric Light interfere in any way with the fforts of the officers Power Company, which has recently abso of these institutions to put the banks into condition the Edison and other companies which the for voluntary liquidation, and the Controller anson controlled nounces that he will consent to the voluntary If a consolidation of such gigantic propor liquidation of these institutic and will discharge the receivers when assured of the ability of the as thus suggested should be formed, it W banks to meet their obligations in full. as promised of course, take in the other Brooklyn tr by the committees now making efforts to put the companies, the Coney Island and Broo banks into a condition justifying him in assenting to liquidation. Queens County and Suburban. There is a The Controller has also appointed John Van rumor to the effect that to handle all thes Vrankin temporary receiver of the First National terests a syndicate is to be formed with a Bank, of Carthage, N. Y. H. J. Whitmore, remendous capitalization. ceiver of the First National Bank of Neligh, Neb., If the Kings County Electric Light and P and E. J. Graham receiver of the Delaware National Bank, of Delhi, N. Y. Company is included in the project, it will b furnishing the

14. November 5, 1898 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, November 5, 1898

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IT WOULD PREFER CREDITORS Comptroller Takes Steps to Neutralize Judge Lacomb's Decision Washington, D. C., Nov. 4.-Owing to the decision of Judge Lacombe, of New York, that an execution can be levied against the assets of a national bank in the hands of the comptroller of the currency at any time prior* to his formal appointment of a receiver, and to the fact that suits are being prepared by others in New York against the Tradesmen's National bank and in Pittsburg against the German National bank for the purpose of levying execution and judgment, which would, if Judge Lacombe's decision is upheld, prefer certain creditors, to the damage of other creditors, unjustly, Charles G. Dawes, comptroller of the currency, has today appointed the bank examiners of Pittsburg and New York to be temporary receivers of the German National bank of Pittsburg and the Tradesmen's National bank of New York, respectively. This action on the part of the comptroller will not interfere in any way with the efforts of the officers of these institutions to put these banks into condition for voluntary liquidation and the comptroller announces that he will consent to the voluntary liquidation of these institutions and will discharge the receivers when assured of the ability of the banks to meet their obligations in full, as promised by their comittees now making efforts to put the bank into condition, jusifying the comptroller in assenting to liquidation.

15. January 3, 1899 Twice-A-Week Plain Dealer Cresco, IA
Article from Twice-A-Week Plain Dealer, January 3, 1899

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HAPPENINGS OF 1898. A Chronological Array of the Most Prominent Events. STORY OF SPANISH-AMERICAN WAR. Brief Mention of Financial Failures, Startling Catastrophes and Crimes-Necrology of Year - Politics and Sport. BANK FAILURES. Jan. 17-State, Elmwood, Ill., $60,000. 24-National, Paola, Kan., suspended. 81-First national, Larimore, N. D., $71,754. Feb. 24-Bank of Southern Baltimore, $170,000. Mar. 16-Home savings, Sioux City, Ia., $60,000 Benson savings, Waterford, Pa., $40,000. 24-Bank of Merriam Park, St. Paul, Minn. People's state, Philadelphia, nearly $1,000,000. 25-Guarantors' Finance Co., Philadelphia, $1,047,500. Jun. 7-Delaware national, Delhi, N. Y., $25,000. 29-Thomas J. Kirby, private, Abilene, Kan., $283,000. Jul.20-Commercial state, Marshalltown, Ia. 21-German savings, Doon, Ia., $59,474 Northern, Lexington, Ky. (suspended). 23-Tawas savings, Tawas City, Mich. (suspended). Aug. 11-Bank of Waverly, Ill., $150,000. 27-Fillmore county, Preston, Minn., $150,000. Sep. 14-D. F. Parsons, private, Burr Oak, Mich., $100,000. 15-Jasper, Ala., bank, $65,000. 26-Allegheny, at Clifton Forge, Va., liabilities, $50,000. Oct. 4-Tradesman's national, at New York, $2,000,000 due depositors. Liabilities placed at $3,800,000. 13-Tioga national, of Oswego, N.Y., closed. 19-First national of Neligh, Neb., liabilities $108,000 German national of Pitts burgh, Pa., liabilities, $7,000,000. 21-First national, of Lisbon, O., capital $50,000-closed; resumed on Nov. 15. 29-Second national, of Springfield, O., goes into liquidation. Nov. 5-First national, of Flushing., O., suspends. 16-First national, of Emporia, Kan., closed. President suicides an hour later. 28-Bank of Hornersville, N. Y., closes doors with liabilities of $75,000. 30-Second national, of Toledo, O., goes into voluntary liquidation. Dec. 5-American savings, at Charleston, S. C., placed in hands of receiver. Liabilities, $100,000.

16. January 7, 1899 The Cape Girardeau Democrat Cape Girardeau, MO
Article from The Cape Girardeau Democrat, January 7, 1899

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BANK FAILURES. Jan. 17-State, Elmwood, III $60,000. 24-National, Paola, Kan., suspended. 31 - First national, Larimore, N. D., $71,754. Feb. 21-Bank of Southern Baltimore, $170. 000. Mar. 16-Home savings, Sioux City, Ia., $60, 000 Benson savings, Waterford, Pa., $40,000. 24-Bank of Merriam Park, St. Paul, Minn. People's state, Philadelphia, nearly $1,000,000. 25-Guarantors' Finance Co., Philadelphia, $1,047,500. Jun. 7-Delaware national, Delhi, N. Y., $25,000. 29-Thomas J. Kirby, private, Abilene, Kan., $283,000. Jul. 20-Commercial state, Marshalltown, Ia. 21-German savings, Doon, Ia. $59,474 Northern, Lexington, Ky. (suspended). 23-Tawas savings, Tawas City, Mich. (suspended). Aug. -Bank of Waverly, Ill., $150,000. 27-Fillmore county, Preston, Minn., $150, 000. Sep. 14-D. F. Parsons, private, Burr Oak, Mich, $100,000. 15-Jasper, Ala., bank, $65,000. 26-Allegheny, at Clifton Forge, Va., liabilities, $50,000. Oct. 4-Tradesman's national, at New York, $2,000,000 due depositors. Liabilities placed at $3,800,000. 13-Tioga national, of Oswego, N. Y., closed. 19-First national of Neligh, Neb., liabiliGerman national of Pitts ties $108,000 burgh, Pa., liabiliteis, $2,000,000. 21-First national, of Lisbon, O., capital $50,000-closed; resumed on Nov. 15. 29-Second national, of Springfield, O., goes into liquidation. Nov. 5-First national, of Flushing_2., suspends. 16-First national, of Emporia, Kan., closed. 28-Bank of Hornersville, N. Y., closes doors with liabilities of $75,000. 30-Second national, of Teledo O., goesinto voluntary liquidation.

17. January 7, 1899 Perrysburg Journal Perrysburg, OH
Article from Perrysburg Journal, January 7, 1899

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BANK FAILURES. Jan. 17-State, Elmwood, III., $60,000. 24-National, Paola, Kan., suspended. -First national, Larimore, N. D., $71,754. Feb. 24-Bank of Southern Baltimore, $170.000. Mar. 16-Home savings, 8 Sioux City, Ia., $60,000 Benson savings, Waterford, Pa., $40,000. 24-Bank of Merriam Park, St. Paul, Minn. People's state, Philadelphia, nearly $1,000,000. 25-Guarantors' Finance Co., Philadelphia, $1,047,500. Jun. 7-Delaware national, Delhi, N. Y., $25,000. 29- l'homas J. Kirby, private, Abilene, Kan., $283,000. Jul. 20-Commercial state, Marshalltown, Ia. 21-German savings, Doon, la. $59,474 Northern, Lexington, Ky. (suspended). 23-Tawas savings, Tawas City, Mich. (suspended). Aug. 11-Bank of Waverly, III., $150,000. Fillmore county, Preston, Minn., $150,000. Sep. It-D. F. Parsons, private, Burr Oak, Mich., $100,000. 15-Jasper, Ala., bank, $65,000. 26-Allegheny, at Clifton Forge, Va., liabilities, $50,000. Oct. 4 -Tradesman's national, at New York, $2,000,000 due depositors. Liabilities placed at $3,800,000. 13-Tioga national, of Oswego, N. Y., closed. 19-First national of Neligh, Neb., liabiliGerman national of Pitts ties $108,000 burgh, Pa., liabiliteis, $2,000,000. 21-First national, of Lisbon, O., capital $50,000-closed; resumed on Nov. 15. 29 Second national, of Springfield, O., goes into liquidation. Nov. 5-First national, of Flushing., O., suspends. 16-First national, of Emporia, Kan., closed. 28-Bank of Hornersville, N. Y., closes doors with liabilities of $75,000. 30-Second national, of Toledo, O., goes into voluntary liquidation.

18. January 13, 1899 The Holly Chieftain Holly, CO
Article from The Holly Chieftain, January 13, 1899

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BANK FAILURES. Jan. 17-State, Elmwood, III., $60,000. 24 -National, Paola, Kan., suspended. 31 - First national, Larimore, N. D., $71,754. Feb. 24-Bank of Southern Baltimore, $170, 000. Mar. 16-Home savings, Sioux City, Ia., $60, 000 Benson savings, Waterford, Pa., $40,000. 24-Bank of Merriam Park, St. Paul, Minn. People's state, Philadelphia, nearly $1,000,000. 25-Guarantors' Finance Co., Philadelphia, $1,047,500. Jun. 7-Delaware national, Delhi, N. Y., $25,000. 29-Thomas J. Kirby, private, Abilene, Kan., $283,000. Jul. .20-Commercial state, Marshalltown, Ia. 21-German savings, Doon, 1a., $59,474 Northern, Lexington, Ky. (suspended) 23-Tawas savings, Tawas City, Mich. (sus pended) Aug. 11-Bank of Waverly, III., $150,000. 27 -Fillmore county, Preston, Minn., $150,000. Sep. 14-D. F. Parsons, private, Burr Oak, Mich., $100,000. 15-Jasper, Aia., bank, $65,000. 26-Allegheny, at Clifton Forge, Va., lia bilities, $50,000. Oct. 4-Tradesman's national, at New York, $2,000,000 due depositors. Liabilities placed at $3,800,000. 13-Tioga national, of Oswego, N. Y., closed. 19-First national of Neligh, Neb., liabiliGerman national of Pitts ties $108,000 burgh, Pa., liabiliteis, $2,000,000. 21-First national, of Lisbon. O., capital 350,000-closed; resumed on Nov. 15. 29-Second national, of Springfield, 0, goes into liquidation. Nov. 5-First national, of Flushing., O., suy. pends. 16-First national, of Emporia, Kan., closed. 28-Bank of Hornersville, N. Y., closes doora with liabilities of $75,000. 30-Second national, of Toledo, O., goes into voluntary liquidation. Dec. 5-American savings, at Charleston, S. C., placed in hands of receiver. Liabilities, $100,000.

19. January 13, 1899 Barton County Democrat Great Bend, KS
Article from Barton County Democrat, January 13, 1899

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HAPPENINGS OF 1898. A Chronological Array of the Most Prominent Events. STORY OF SPANISH-AMERICAN WAR. Brief Mention of Financial Failures, Startling Oatastrophes and Crimes-Necrology of Year - Politics and Sport. / BANK FAILURES. Jan. 17-State, Elmwood, III., $60,000. 24-National, Paola, Kan., suspended. 31-First - national, Larimore, N. D., $71,754. Feb. 24-Bank of Southern Baltimore, $170,000. Mar. 16 Home savings, Sioux City, Ia., $60,000 Benson savings, Waterford, Pa., $40,000. 24-Bank of Merriam Park, St. Paul, Minn. People's state, Philadelphia, nearly $1,000,000. 25-Guarantors' Finance Co., Philadelphia, $1,047,500. Jun. 7-Delaware national, Delhi, N. Y., $25,000. 29-Thomas J. Kirby, private, Abilene, Kan., $283,000. Jul.20-Commercial state, Marshalltown, Ia. 21-German savings, Doon, la., $59,474 Northern, Lexington, Ky. (suspended). -Tawas savings, Tawas City, Mich. (suspended). Aug. 11-Bank of Waverly, Ill., $150,000. 27-Fillmore county, Preston, Minn., $150,000. Sep. 14-D. F. Parsons, private, Burr Oak, Mich., $100,000. 15-Jasper, Ala., bank, $65,000. 26-Allegheny, at Clifton Forge, Va., liabilities, $50,000. Oct. 4-Tradesman's national, at New York, $2,000,000 due depositors. Liabilities placed at $3,800,000. 13-Tioga national, of Oswego, N. Y., closed. 19-First national of Neligh, Neb., liabilities $108,000 German national of Pitts burgh, Pa., liabilities, $7,000,000. 21-First national, of Lisbon, O., capital $50,000-closed; resumed on Nov. 15. 29-Second national, of Springfield, O., goes into liquidation. Nov. 5-First national, of Flushing., O., suspends. 10-First national, of Emporia, Kan., closed. President suicides an hour later. 2S-Bank of Hornersville, N. Y., closes doors with liabilities of $75,000. S-Second national, of Toledo, O., goes into voluntary liquidation. Dec. 5-American savings, at Charleston, S. C., placed in hands of receiver. Liabilities, $100,000.

20. January 22, 1899 Wheeling Sunday Register Wheeling, WV
Article from Wheeling Sunday Register, January 22, 1899

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BANK TO REOPEN. Pittsburg, Pa., January 21.-The German National bank, which suspended payment on October 18 last, will resume business on Monday with a capital of $250,000. There is enough cash on hand to pay every dollar the bank owes ($1,300,000), and all claims will be paid on demand.

21. January 22, 1899 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, January 22, 1899

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Sound as a Dollar. PITTSBURG, Pa., Jan. 21.-The German National bank, which suspended payment on Oct. 18 last, will resume business on Monday, with a capital of $250,000. There is enough cash on hand to pay every dollar the bank owes ($1,300,000) and all claims will be paid on demand.

22. January 26, 1899 The Worthington Advance Worthington, MN
Article from The Worthington Advance, January 26, 1899

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THE EAST. While chasing a burglar Chief of Police Crow, of Somerville, N. J., was shot and fatally wounded. In the United States there were 249 business failures in the seven days ended on the 20th, against 318 the week previous and 374 in the corresponding period of 1898. During the week ended on the 20th the exchanges at the leading clearing houses in the United States aggregated $1,996,541,167, against- $1,940,605,370 the previous week. The increase compared with the corresponding week in 1898 was 40.8. In New York Rear Admiral Schley was presented with a jeweled sword by his brother members of the Royal Arcanum at Carnegie music hall. At the age of 80 years Rev. Arthur D. Bradford, United States consul-general at Amoy, China, under Abraham Lincoln, died near New Castle, Pa. In Ithaca, N. Y., Mrs. Mary Hine died at the age of 110 years. At Pittsburgh, Pa., the German national bank, which suspended payment on October 18 last, has resumed business, paying all creditors in full.

23. January 26, 1899 Warren Sheaf Warren, MN
Article from Warren Sheaf, January 26, 1899

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imperfect Page Gen. Jiminez Castellanos, former cap tain general of Cuba. complained to Gen. Brooketthat the Cubans in the province of Santa Clara were murdering Spanish ex-volunteers. "There were 249 business failures in the United States in. the seven days ended on the 20th, against 318 the week previous and 374 in the corresponding period of 1898. The American officials in Porto Ricc have been ordered to enforce the Chinese exclusion laws of this country on that island. Rear Admiral Schley was presented with a jeweled sword by his brother members of the Royal Arcanum at Carnegie music hall in New York. The post office and other buildings, occupying an entire block in the town of Davis, I. T., were destroyed by fire. John and Henry Hall, both negroes, were hanged at Montgomery, Ala., for the murder of James Belzer. James Booker, a young negro, was hanged at Raleigh, N. C., for the murder of his sweetheart, Mehaley White. A.E. Keith and wife, prominent residents of Creston, Ia., were burned to death in a steamboat fire in Memphis. Tenu. Burglars robbed the bank at Arthur III., of $3,000. Vandals wrecked the offices of the Antigo Republican, the Weekly News and the German Herold at Antigo. Wis. Mrs. Mary Hine died in Ithaca, N. Y. aged 110 years. Wreckage of the missing yacht Paul Jones was found at Breton island, in the Gulf of Mexico, and those on board were given up as lost. They were William Yocum and daughter, of St. Louis; Miss Margery Woodland,of Chicago; Miss Taggart, daughter of Mayor Taggart, of Indianapolis. and a crew of four persons. Three children of John and Susan E. Shear were drowned in the reservoir at Ravenna, O. Rev. Newell Dwight Hillis, of Chicago has accepted the pastorate of Plymouth church in Brooklyn. N. Y. John Deithloff killed his wife and himself in Chicago. Domestic trouble was the cause. More than $850,000,000 worth of farm products were exported from the United States last year, against $730, 000,000 in 1897. Advicesfrom Tacoma, Wash., say $30,000,000 is a conservative estimate of this winter's Klondike output. Washington officials have decided up on a plan for the treatment of the Philippine situation in case Filipinos attack the American troops. The plan involves the blockading of the islands of the archipelago, the isolation of each and the subjugation of the islands one by one. A distinct earthquake shock was felt at Richview, Ill., but no damage was done. The German national bank at Pitts burgh, Pa., which suspended payment on October 18 last, has resumed business, paying all creditors in full. In a fit of insanity Mrs. S. J. McCullough, wife of a well-known man in Toledo, O., committed suicide after poisoning her four children, one of whom died. Two brothers known as the "Barton twins," aged 35 years, were burned to death in their home near Shelbina, Mo.

24. January 28, 1899 Perrysburg Journal Perrysburg, OH
Article from Perrysburg Journal, January 28, 1899

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acid have Johned a trust. The president issued an order setting apart what is known as Mission rock, in San Francisco bay, as a naval station. The Cuban evacuation commission was dissolved after submitting to the president a report on their labors. Because of a threatened strike all the and were down. 2,500 men out collieries brook, Pa., at of Audenried employmnt. shut throwing HoneyChief of Police Crow, of Somerville, N.J., was shot and fatally wounded while chasing a burglar. David Williams, a surveyor. shot and killed his wife and then committed suicide at his home near Silverdale, Wash. Gen. Eagan was served with legaln tice of the ordering of a court-martial and as of were in B. charge the his United duties of Lieut. States commissary Col. army George general placed Davis. former tain to Gen. general Brooke Jiminez that of Castellanos, Cuba. the Cubans complained in capGen. the province of Santa Clara were murdering Spanish ex-volunteers. There were 249 business failures in in the seven on 318 the week the ended United the States 20th. against days previous and 374 in the corresponding period of 1898. The exchanges at theleading clearon ing the week houses ended in the United the 20th States aggregated during $1,996,541,167. against $1,940,605,370 the previous week. The increase compared with the corresponding week in 1898 was 40.8. The American officials in Porto Rico have been ordered to enforce the Chinese exclusion laws of this country on that island. Rear Admiral Schley was presented with a jeweled sword by his brother members of the Royal Arcanum at Carnegie music hall in New York. The post office and other buildings, occupying an entire block in the town of Davis, I. T., were destroyed by fire. John and Henry Hall, both negroes, were hanged at Montgomery, Ala., for the murder of James Belzer. James Booker, a young negro, was hanged at Raleigh, N.C., for the murder of his sweetheart, Mehaley White. A.E. Keith and wife, prominent residents of Creston, Ia., were burned to death in a steamboat fire in Memphis, Tenn. Burglars robbed the bank at Arthur, III., of $3,000. Vandals wrecked the offices of the Antigo Republican, the Weekly News and the German Herold at Antigo. Wis. Mrs. Mary Hine died in Ithaca, N. Y., aged 110 years. Wreckage of the missing yacht Paul Jones was found at Breton island, in the Gulf of Mexico, and those on board were given up as lost. They were William Yocum and daughter, of St. Louis; Miss Margery Woodland.of Chicago; Miss Taggart, daughter of Mayor Taggart, of Indianapolis. and a crew of four persons. Three children of John and Susan E. Shear were drowned in the reservoir at Ravenna, O. Rev. Newell Dwight Hillis, of Chicago, has accepted the pastorate of Plymouth church in Brooklyn. N. Y. John Deithloff killed his wife and himself in Chicago. Domestic trouble was the cause. More than $850,000,000 worth of farm products were exported from the United States last year, against $730,000,000 in 1897. Advices from Tacoma, Wash.. say $30,000,000 is a conservative estimate of this winter's Klondike output. Washington officials have decided upon a plan for the treatment of the Philippine situation in case Filipinos attack the American troops. The plan involves the blockading of the islands of the archipelago, the isolation of each and the subjugation of the islands one by one. A distinct earthquake shock was felt at Richview, III., but no damage was done. The German national bank at Pittsburgh, Pa., which suspended payment on October 18 last, has resumed business, paying all creditors in full. fit of insanity Mrs. S.J. McCulwife of a man ledo. committed poilough, In a O., well-known children, suicide after of whom in Tosoning her four one died. Two brothers known as the "Barton 35 years, were to twins," aged Shelbina, burned Mo. death, in their home near PERSONAL AND POLITICAL. republicans will hold the state for tice the court regents Michigan of convention supreme Jackson nomination and March of jus- 1. of the university at B. ine ternal was chosen as Nathan revenue, Scott, commissioner candidate the of West for senator by the caucus of t Virginia republicans. In North Dakota the republican legis1 lative caucus nominated Porter J. McCumber for United States senator. The funeral of Nelson Dingley, Jr., took place at Lewiston. Me. n Andrew Peterson. ex-consul of Denmark to Illinois and 15 other states,