16734. Lawrence Bank (Pittsburg, PA)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
October 20, 1889
Location
Pittsburg, Pennsylvania (40.441, -79.996)

Metadata

Model
gpt-5-mini
Short Digest
15d4765d3ca0c720

Response Measures

None

Description

Initial run (Oct 20, 1889) was caused by a rumor tied to the president's absence; bank met early withdrawals then. In late November (Nov 21, 1889) the bank closed/suspended after a large confessed judgment by Long & Co. ($300,000) and prior heavy withdrawals; subsequently depositors petitioned and a receiver was appointed in early December (Dec 3, 1889). OCR shows spelling 'Pittsburg' (contemporary usage) and some garbling in articles; I corrected obvious OCR errors and used dates as reported in the newspapers.

Events (4)
1. October 20, 1889 Run
Cause
Rumor Or Misinformation
Cause Details
Rumor started—absence of President W. W. Young on a fishing trip led someone (said to be 'some old woman') to circulate that the bank had failed, provoking a crowd and heavy withdrawals.
Measures
Bank remained open, met demands, stayed open until 9 PM to reassure depositors.
Newspaper Excerpt
The absence of President W. W. Young ... gave someone the impression ... a crowd of several hundred persons surrounded it, clamoring for their money. ... a tremendous run was made on the bank, but it kept its door open and met all demands without difficulty.
Source
newspapers
2. November 21, 1889 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Confession of judgment by Long & Co. for large sums (~$300,000) plus prior injudicious investments and a prior run drained funds; clearing house returns of checks (about $11,000) signaled inability to meet obligations, and the bank suspended/closed.
Newspaper Excerpt
The Lawrence bank has failed. ... The first notification of trouble came when the bank's checks ... were recalled from its clearing house correspondent. ... Long & Co. ... confessed judgment for $300,000 ... and the latter institution closed its doors.
Source
newspapers
3. November 22, 1889 Other
Newspaper Excerpt
Owing to the continued withdrawal of depositors we are compelled to suspend payment, feeling assured that with time and patience all will be reimbursed. By order of the president (notice tacked on the door).
Source
newspapers
4. December 3, 1889 Receivership
Newspaper Excerpt
petition ... asking for the appointment of a receiver. ... decided that the circumstances justified the appointment of a receiver at once.
Source
newspapers

Newspaper Articles (22)
1. October 20, 1889 Pittsburg Dispatch Pittsburgh, PA
Article from Pittsburg Dispatch, October 20, 1889

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STILL DOING BUSINESS. The Rumor That the Lawrence Bank Has Failed is Unfounded. The absence of President W. W. Young, of the Lawrence Bank, who is on a fishing tour on the Kankakee, gave someone the impression yesterday that there was trouble in the institution, and about 10 o'clock in the morning a crowd of several hundred persons surrounded it, clamoring for their money. They were in a highly excited state, and a tremendous run was made on the bank, but it kept its door open and met all demands without difficulty. Many of the larger depositors were satisfied with the assurance from the officials that the bank was all right, but the smaller ones did not leave until they got their monev. Thomas Stewart, a director in the bank, stated last night that the report must have been started by some old woman who had attempted to draw money without the customary previous notice. He stated that the bank was in an excellent condition, paying 6 per cent dividends, and had some of the most prominent business men of the city as stockholders. A reward of $150 will be given for the apprehension of the person who started the rumor. The' bank itself was not closed at all yesterday, and remained open until 9 o'clock last night, to give assurance to its depositors.

2. November 22, 1889 New-York Tribune New York, NY
Article from New-York Tribune, November 22, 1889

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FAILURE OF THE LAWRENCE BANK. COMPLETE COLLAPSE OF A PITTSBURG CONCERN WITH LIABILITIES OF $700,000. Pit.sburg. Nov. 21 (Special).-The Lawrence Bank, chartered under the State laws, failed to-day with liabilities of between $600,000 and $700,000. Its capital is $800,000, and its assets are an uncertain quantity. The first notification of trouble came when the bank's checks amounting to $11,000 to $12,000 were recalled from its clearing house correspondent. Then came a confession of judgment in $300,000 by Long & Co., of the Vulcan Forge and Iron Works, to the bank This was on three notes for $100,000 each. given last month. President W. W. Young of the bank declared to-night that the collapse was complete; that he had sunk all his own money and that of some of his friends, and he was ruined. He ascribed the failure to injudicious investments and declared positively that there was no dishonesty. Three weeks ago, it was rumored that the bank was shaky and a run began. Since that time $253,000 has been withdrawn by depositors. D. H. H. Clark withdrew $80,000 a few days ago and is to-night the happiest man in town. The bank carried over $800,000 in deposits, much being from persons who are unable to stand loss. E. Z. Wainwright is said to have had $40,000 in the bank, and Carnegie Brothers also a heavy deposit, but neither will be involved by the failure. The bank was organized in 1866, and at its last report had a surplus of $45,000 and undivided profits of about $11,000. Some of the directors say it will reopen and others say not.

3. November 22, 1889 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, November 22, 1889

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FINANCIAL SENSATION At Pittsburg - Failure of the Lawrence Bank. A BIG IRON FIRM ASSIGNS And 11 Causes the Bank to Close Its Doors-Excitement Among Workingmen Who Had Deposited in the Institution. PITTSBURGH, Nov. 21.-This city exprienced a financial sensation t'is af ternoon. The large iron firm of Long & Co., whose works are located at Charconfessed judgment for three hun. tiers, drid thousand dollars in favor of the Liwrence Bank, and the latter institu. tion closed its doors. The first intimation business people received of the bank's inability to meet its obligations WAS it notice to the Union Bank, through which it clears to return checks to the amount of only $11,000. It WHN first states this afternoon that the closing of the bank was entirely due to the judgment confessed by Long & Co. and a cons quent run upon the bank, and that it would be opened to. President Young stated he not bank night that morrow. would be opened. aid know The failure when the to- of iron he the failure do the with firm, made said, of the had bank, something bad but invest. not to all. They had some ments. None of the officers, he said, have defaulted. The bank's liabilities are given at $700,000. The assets e not known. It is perhaps questionable whether or not the amount of the judgments confessed by Long & Co. can be realized from the property. There are said to be other and prior liens. Some ten days ago a rumor was started that the Lawrence bank was not sound. It is located in the Lawrencevilledistrict of the city, where mechaniesand iron workers predominate, and a FILL WHS made upon the bank. About $250.000 was withdrawn. Hundreds of workmen, however, have still their all inthe bank and there is great excitementionnight in that portion of the city. The bank was organized in 1866. The capital stock of the company was $80,000; the surplus in the last report WHO $46,000; undivided profits, $10,294 33. The dicers of the bank were nafollows: President, W. W. Young; Vice President, Samuel McMahon; Cashier. John Hour. -

4. November 22, 1889 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, November 22, 1889

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WORKMEN'S SAVINGS SWALLOWED. The Lawrence Bank, of Pittsburg, Forced to Suspend. PITTSBURG. Nov. 21.-The Lawrence bank has laned to meet its obligations and closed its doors. The bank had a capital stock of $800,000, and was supposed to be one of the most solid in the city. It is thought the embarrassment will be only temporary. Tonight President Young said he didnot know when the bank would be opened. The failure of the iron firm of Long & Co., who confessed judgment today in favor of the bank for $300,000, had something to do with the failure, but not all. Some bad investments had been made. When the rumor of the bank's trouble was circulated two weeks ago, quite a run was made and nearly a quarter of a million was drawn, but hundreds of workmen still have all their savings in the bank and great excitement prevails.

5. November 22, 1889 The Morning News Savannah, GA
Article from The Morning News, November 22, 1889

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SOME COMPANIES HOLDING ALOOF. There are a number of concerns which have not yet been induced to enter the fold. One reason for holding aloof is that the offers made them will give them only an insignificant position in the combination. They feel that they may be forced to suspend operations temporarily, at least, for lack of raw material, the nine rod mills of America being either consolidated with the nail and fence manufacturers in the combination or being under contract to furnish the Federal Steel Company their entire product. A DOUBLE CRASH An Iron Firm Fails for $300,000 and Drags Down a Bank. PITTSBURG, Nov. 21.-This city experienced a financial sensation this afternoon. The large iron firm of Long & Co., whose works are located at Chartiers, confessed judgment for $300,000 in favor of the Lawrence bank, and the latter institution closed its doors. President Young stated to-night that he did not know when the bank would be opened. The failure of the iron firm, he said, had something to do with the failure of the bank, but not all. They had made some bad investments. None of the officers, he says, have defaulted. The bank's liabilities are given at $700,000. The amount of its assets are not known. A run was made upon the bank a few days ago and about $250,000 was withdrawn. Hundreds of workmen, however, have still their all in the bank and there is great excitement to-night in that portion of the city.

6. November 22, 1889 Pittsburg Dispatch Pittsburgh, PA
Article from Pittsburg Dispatch, November 22, 1889

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PITTSBURG, FRIDAY, NOV. 22, 1889. # YESTERDAY'S BANK FAILURE. The failure of the Lawrence Bank, which took place yesterday, created an unpleasant ripple in local finances. The investigation of the case, however, shows clearly that the failure is entirely local in its character, has no connection with the general condition of business, and can exercise no complicating effects on business at large. Depositors in the section where the bank was located may undergo inconvenience; the stockholders and officers of the suspended institution may suffer loss; but the generally prosperous condition of the city will hardly feel any drawbacks from a failure of so purely local an institution. With regard to the condition of the institution, exact statements are difficult to obtain at present. From the facts gleaned, it seems that the institution, alleged to be solvent, has been subjected to a steady drain caused by unfavorable and unfounded reports. On this withdrawal some $250,000 was paid out until the bank, unable to convert its assets, was forced to suspend. Of the deposits some $350,000 are reported unpaid, and it is supposed that the books of the bank, according to its last statement, should show much more than assets sufficient to meet that liability. On this statement it should be easy for the bank to pay dollar for dollar on its liabilities. The unfavorable feature so far discovered is the failure of a single firm whose liability to the bank is quite large. No intimations of speculation or irregularities are heard; but there is a practical confession of indiscretion in making loans which is not to be reconciled with careful banking management. Of course, with regard to such an event, everyone will hope that the settlement of affairs will turn out satisfactorily. However that may be, there is no reason to fear the extension of this complication of business at large.

7. November 22, 1889 Evening Star Washington, DC
Article from Evening Star, November 22, 1889

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A PITTSBURG BANK FAILS. Gone Under With Its Stock Above Par and a Surplus on Hand. The Lawrence bank of Lawrenceville, Pittsburg, closed its doors yesterday, being unable to lift its checkeat the Union National bank, through which it did its clearings. These checks amounted to only $11,000. The Lawrence bank was the oldest institution of the kind in Lawrenceville and had always been considered sound until lately. About a month ago a run was made on it on account of ugly rumors regarding the conduct of one of its officers, who was accused of dissipating too much to attend to business. This flurry blew over, however, and on the 4th of this month a dividend was declared of 3 per cent from the earnings. It now develops that at that very time there were no earnings. The stock of the bank has since that time, however, been quoted at $60 per share, $10 above par. The bank did business up to closing time yesterday. Its friends say it will pull through and resume. Its capital stock was $800,000, surplus, $45,000; undivided profits, $10,294.33, according to the last report. Officials of the bank say they have paid out $253,000 to depositors during the past three weeks and that their assets will be found between $700,000 and $800,000. The immediate cause of the failure was the Vulcan iron company of Chartiers confessing judgment on notes aggregating $300,000. This failure of the Vulcan iron company will cause great distress, they employing about 350 men. A special to the New York Tribune from Pitts. burg says the liabilities of the Lawrence bank are between $600,000 and $700,000. Its assets are an unknown quantity. President W. W. Young, of the bank, declared last night that the collapse was complete; that he had sunk all his own money and that of some of his friends and he was ruined. He ascribed the failure to injudicious investments and declared positively that there was no dishonesty. The bank carried over $800,000 in deposits, much being from persons who are unable to stand loss. E. Z. Wainwright is said to have had $40,000 in the bank and Carnegie Brothers also a heavy deposit, but neither will be involved by the failure.

8. November 23, 1889 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, November 23, 1889

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THE LAWRENCE BANK FAILURE. Excitement in the District-The Depositors Principally of the Poorer Class. PITTSBURGH, PA., Nov. 22.-Considerable excitement prevails in the Lawrenceville district to-day over the failure of the Lawrence Bank. The doors were not closed until the usual hour yesterday, and when the reports were first circulated they were not generally credited. This morning, however, the doors remained closed. Many of the depositors, who were principally of the poorer class, gathered about the institution, but the best of order was maintrined. The failure has caused but little flurry in financial circles, and it is claimed that no other banks are involved. Long & Co.'s iron plant is in the hands of the Sheriff, The judgment conferred in favor of the defunct bank was $300,000, but it is claimed by the firm that the actual amount is not over $150,000. The absence of Cashier Hoerr is creat. ing a great deal of comment. He left the bank for lunch at noon yesterday and has not been seen since. No crook eduess is hinted at, however, and it is thought he is simply keeping himself out of the reach of the reporters. From bank sources it is learned that the de. posits were about $850,000 and that probably $200,000 had been drawn out in the recent run. The bills receivable are about $600,000 and the real estate $70,000, cash and bonds on hand amount to from $30,000 to $40,000. The assets, it is thought, will aggregate $800,000, and as the stockholders are individually lia ble for $150,000, the depositors will like. W ly receive dollar for dollar. The notice on the bank door this morning auP nounces that with patience everything will be paid in full. Judgments aggregating $462,000 have been entered up against Long & Co., the b iron firm, of which $100,000 are in favor W the Lawrence bank and $200,000 in favor of its president, W. W. Young. No other failures have resulted as yet, but a number of small suspensions are b looked for. The banks are all right and 0 no trouble ia anticipated. A recent meeting of the directors of the bank was held this afternoon. Nothing could be learned of the action taken. The members said a statement would be is. h sued in a few days and until then there hi would be nothing for the public. They claim to know where Cashier Hoerr is and say he will be on hand at the proper a time. His wife is still ignorant of his fo whereabouts.

9. November 23, 1889 Pittsburg Dispatch Pittsburgh, PA
Article from Pittsburg Dispatch, November 23, 1889

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THE TOPICAL TALKER. The Bank Failure of To-Day Recalls Incldents of a Grand Predecessor - Col. McCaull's Affairs-An Idyl of the Sixth Street Bridge. EVERYBODY was talking of bank failures yesterday; retailing experiences and bits of gossipabout the Penn Bank smash and other dark financial days. One story of that awful Penn Bank collapse that was told to me has never been in print, although a good many people know it. Among the depositors in the bank was a young railroad clerk. He had accumulated $1.600, and every cent of it was in the Penn Bank when it suspended payment for the first time. When that institution reopened its doors and reports were given out by the friends of the bank that large sums had been lent to it to tide over the rough weather, the young man whose savings were at stake was urged by his companions in the office to draw his money ont. But he refused to very manfully; he was satisfied to let his money rest, he said, now that the bank had all the money it needed, and the support of so many wealthy men. We know how misplaced that confidence was now, but it is surprising at this day to know how many smart men of business were deluded into a belief of the Penn Bank's solvency after its first suspension. A VERY shrewd business man had some $70,000 in the Penn Bank when it went under the first time. A brother of his had $10,000 or $12,000 also on deposit in the same place. When the doors were thrown open the depositor of the smaller sum was among the first to get it from the tottering bank's clutches. His elder brother made sport of him, accusing him of timidity unworthy a business man for 24 hours or more. The $70,000 were allowed to remain intact-ostensibly-in the Penn Bank. The next day the situation was reversed, but the lucky younger brother had not the heart to plague his hard hit senior. Happily the Lawrence Bank failure seems to lack the most distressing features of the catastrophe which shook Pittsburg to its center in 1883. THE report that Col. McCaull is to retire from the management of his opera company, particulars of which including the denial of its truth will be found on the local page, would have had more probability if the redoubtable impresario had not such able agents to look after his interests, as Mr. B. D, Stevens and Madame Cottrelly. Col. McCaull's ill health has been a very serious drawback to him for the last two or three years. He has done a deal of good in his time for the lighter opera of our stage, and at many times he has had to fight very hard for his professional life, It will be a loss to the American stage when Col. McCaull drops out of the managerial ranks. THE wind blowing from the southwest with a vicious force made the passage of the Sixth street bridge last evening very unpleasant. The rain was nearly sleet, and it stung one's face like small shot. As usual, the lower side of the bridge walk was under water. Under one umbrella, just in front of me, crossing the bridge bravely, were a youth and a maiden, the latter presumably fair. Anyhow, she had a musical voice-a thing a man will notice under any circumstances, even in a rain-storm. Said she: "This is dreadful, Charlie!" Said he: "Yes-but it ought "to cheer you to think that I am sheltering you. This umbrella is my love-and the Allegheny is the world's wild stream, and the storm the trials and troubles we are sure to meet, my dear." "That's all very well," she replied, with a laugh, "but imagination won't keep my feet dry-and, sir, if your love is no bigger and no = better able to protect me than your umbrella, I I won't promise to cross the river of life with you." W And then a gust of wind, I suppose, pressed A the umbrella very close to the girl's head, and t the pursuit of sentiment under difficulties was ] t taken beyond my ken.

10. November 23, 1889 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, November 23, 1889

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FOOLS AND THEIR MONEY. Depositors in the Lawrence Bank Left in the Lurch. PITTSBURG, Nov. 22.-The Lawrence bank did not open its doors for business this morning, as was anticipated by some of the more sånguine stockholders and depositors. Long before the hour for commencing business a crowd of interested people gathered at the bank steps, discussing the situation. Promptly at 9 o'clock Assistant Cashier Moke tacked the following notice on the door and immediately disappeared: Owing to the continued withdrawal of depositors we are compelled to suspend payment, feeling assured that with time and patience all will be reimbursed. By order of the president. There was considerable murmuring, and numerous threats were heard about what would be done in case any of the officials dared to show their faces. The only man connected with the bank who appeared about the building was Director Samuel McMahon. He tried to explain matters, but his task was a rather difficult one. Mr. McMahon said to a reporter: "We will pay dollar for dollar. The depositors will not lose a cent, although they may be compelled to wait until we are able to realize enough to meet their claims. The directors will hold a meeting this afternoon at which we will ascertain the full amount of our liabilities and assets, and will prepare a statement for the public." Long & Co., of the Vulcan iron works, against which the Lawrence bank holds judgments aggregating about $300,000, and whose property is now in the hands of the sheriff, positively refuse to make any statement for publication. The absence of Cashier Hoerr is creating a great deal of comment. He left the bank for lunch at noon yesterday and has not been seen since. No crookedness is hinted at, however, and it is thought he is simply keeping himself out of the reach of reporters. From bank sourees it is learned that the deposits were about $850,000. and that probably $200,000 had been drawn out in the recenti run. The bills receivable are about $600,000, and the real estate $70.000. Cash and bonds on hand amount to from $30.000 to $40,000. The assets, it is thought, will aggregate $800,000, and the stockholders are individually liable for $150,000. DIRECTORS ARE EXCITED. PITTSBURG, Pa. Nov. 22.-A meeting of the directors of the Lawrence bank was held this afternoon. The session lasted about half an hour. and then hastily adjourned. Attorney McCook said: We are not in shape to make any statement, though we shall at the very earliest opportunity. It is impossible to tell what are the assets and liabilities. We will immediately call in all outstanding loans subject to call. and the clerks are now working on the books to get them in shape. When we have matters in shape a meeting of the stockholders will be called. The following estimates are as accurate as obtainable: Assets, $800,000; liabilities said to be $600,000.

11. November 23, 1889 Telegram-Herald Grand Rapids, MI
Article from Telegram-Herald, November 23, 1889

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A BANK FAILS. A Financial Institution at Pittsburgh Goes Under with Liabilities of $700,000. PITTSBURGH, Pa., Nov. 23.-This city experienced quite a sensation Thursday afternoon. The large iron firm of Long & Co., whose works are located at Chartiers, confessed judgment for $300,000 in favor of the Lawrence Bank, and the latter institution closed its doors. The first intimation which the business people received of the bank's inability to meet its obligations was a notice to the Union Bank, through which it clears, to return checks to the amount of only $11,000. The bank's liabilities are given at $700,000. The assets are not known. About ten days ago a rumor was started that the Lawrence Bank was not sound. It is located in the Lawrenceville district of the city, where mechanics and iron-workers predominate, and a run was made upon it. About $250,000 was withdrawn. Hundreds of workmen, however, have still their all in the bank, and there is great excitement in that portion of the city.

12. November 28, 1889 The Stark County Democrat Canton, OH
Article from The Stark County Democrat, November 28, 1889

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ITS DOORS REMAIN CLOSED. Depositors Notified That the Lawrence Bank will Not Do Business for the Present. PITTTBURG, Nov. 28.-Early in the morning a notice was posted on the doors of the Lawrence bank that, owing to the unusual run on the funds of the bank, the institution is compelled to stop payment for the present, but it assured the depositors that with a little time and patience all would receive their money, A. crowd, numbering probably 200 people, was gathered in groups strung along Butler street, opposite the bank, discussing the failure. They appeared to take their misfortune philosophically. The disappearance of Cashier Hoerr causes it good deal of talk. He left the bank shortly before the close of regular banking hours, and has not been seen since, His wife is greatly worried over his absence from home. and claims that she has not heard from him, nor does she know his present whereabouts. President Young claims that the cashier is no way implicated in the failure. The rumor that President Young had lost heavily in speculation is still denied, and claims that the failure is due entirely to bad loans. In a statement, Mr. Young says that "wo will be able to pay every cent on the dollar. We may not be able to do ao for a few days yet, but it will be paid. I am alone responsible for the present condition of affairs. The directors did wrong in allowing me to do as I did, but I think we will be able to pay the depositors in full. I have sold all my property and put It into the bank as funds to run on, and now 1. am without a dollar in the world." Many skilled mechanics have all their savings in the bank, and they will feel the failure much worse than others. Long & Co.'s iron plant is In the hands of the sheriff. The judgment confessed in favor of the defunct bank Was 8800.000, but It is claimed by the fhem that the actual amount is not over $150,000.

13. November 28, 1889 The Stark County Democrat Canton, OH
Article from The Stark County Democrat, November 28, 1889

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NEWS OF THE WEEK. BOSTON, Nov. 22.-[Speciel.].]-Sullivan has received a telegram that the San Jose, Californio, Athletic Association will puup fifteen thousand for finish fight bet tween him and the negro Jackson, He will accept and will telegraph his accept ance. NEW YORK, Nov. 22,-[Special.]-A highly sensational shooting affray occurred here this morning on Fulton street. Stephen L. Pattens, secretary and treasurer of the Brooklyn Elevated Road and a Brooklyn Bridge trustee, was shot and instantly killed by Mrs. Hannah Southworth. The weapon used was a 88-calibre self-cocking revolver. All five chambers were discharged and every bullet took effect. Pettens had just left the ferry, when a woman, richly dressed, very handsome and thickly yeiled, stepped behind him and began firing at him. Pettens was married man, but has no children. It seems for some years past Mrs. Southworth has given Pettens a vast amount of trouble, She assaulted him once before In Brooklyn. At that time she broke an umbrella over his head. She was then arrested and put under bonds for good behavior. Some time ago she brought suit against him for a large amount, alleging he had seduced her, and asking big money as compensation. Pettens fought the case, which is still pending. Mrs. Southworth is still under arrest. Pettens was wealthy. The affair creates a great sensation throughout the eny, owing to the prominence of Pettens. PITTSBURG, Nov. .-[Special. ]--A twostory frame house was blown to atoms at Braddock, Pa., this morning by the explosion of natural gas. Mrs. Peter Keish, wife of the owner, was in bed with an infant. Both are believed to be fatally ourned. Charles Householder is also faally burned. Five other members of the Kelsh family who were in the house are ba By injured. The MITH WAS leaking in the basement kitchen,where Householder, in the employ of the gas company, called repair the leak. His light ignited the gas, and the whole side of the house was town out. Tue explosion shook up the whole town. HELENA, Montana, Nov. 22,-[Special. B. Olds, Republican Senatorand very prominent man, says he in opposed to the methods the Republicans have used to noure control of the Legislature, and that he will oppose it. He says that his party neither law nor justice on its side and feeling in his county among his own party is that the business should stop just where it is and the Democrats be allowed organize the Legislature and elect the United States Senator. His position creconsternation among the Republicans. MASSILLON, Nov. 22. [Special.]- WilHam T. Clay, a prominent citizen of this Jace, died 1108 morming Trom a parsy, ''' troke receive d Wednesda moved to orn in Plain township and father of Massillon in 1836. He is the of this aylor Clay and Mrs. John o The den funeral city, He was 78 years old. will be held Sunday at 2 p. m. PHILADELPHIA Nov. 22.-[Special.]-It now said that Wigton, manager of the Glanmorgan Iron Co. has doctered notes the amount of fifty thousand dollars and that he admits making alterations to amount. The officers of the company fear still larger defalcations. WASHINGTON, Nov. 22.-[Special.]-A N. venerable appearing man named 1. not Alexander, evidently 60 years of age, overly well kept, is here looking for the bilice of District Attorney for Northern Dhio, now held by R. S. Shields This is from Van Wort, Ohio, and Senator Sherman is backing him. There is tremendous opposition to his appointment, and serious charges have been filed against him, and strong protests from Poledo and Cleveland against his appointment. Sherman is said to be hesiating, but knowing ones think Alexander will get the appointment. PITTSBURG, Nov. 22.-[Special]- Presilent Smith of the Lawrence busted bank they will be able to pay all liabilities full. No other banks are affected. RIO JANERIO, Nov. 20.-The Provisional rovernment has issued a decree declaring miversal suffrage in the United States of Brazil. It goes into operation at the next general election. Tranquility prevails. CHICAGO, III., Nov. is enveloped in a ever known. It is impossible and to recognize pedestrians on the streets, cable roads are running on a walk. PHILADELPHIA, Nov, 21. -[Special.]The funeral of ex-Attorney Lewis C. Cas. took place this morning from his late residence. There was a large attendance of prominent lawyers and politicians. HAMILTON, O., Nov. 20.-Chairman Neal being asked if Calvin S. Brice, of the Nalonal Democratic Committee, aided him the Ohio campaign, said: "I asked for assistance and he gave it." WASHINGTON, Nov. 21.-[Special.]-The Bolivian minister will be presented the President to-morrow morning by Secretary Blaine. NEWARK, N.J., Nov. 21. -[Special.]President Alfred A. Reeves of the Globe Fire Insurance Co. of New York City died here this morning aged 54. He left a arge estate. ALBANY, N. Y., Nov.21.--[Special.]--Tolay Gov. Hill commuted the sentence of Charles Giblin, the murderer of Mrs. Valontine Goetz, to life imprisonment. CHICAGO, Nov. 21.-[Special.]-In the Cronin trial this morning the defense coninued the work of proving analibi for the prisoners and also attempted to prove the White horse of Dinans was not one that carried off Dr. Cronin from rooms on the fatal night of his disapbearance. WASHINGTON, Nov. 21.-[Special.]-The Brazilian delegates to the Pan-American Marine Congresses, have been notiby the new government to continue their duties in both Congresses, just as if accident had happened to Dom Pedro. WASHINGTON, Nov. 21.-[Speclal.]-The President has appointed Thomas Clay McDowell collector of internal revenue to succeed the late William Cassius Goodloe Lexington, Ky. McDowell is the sonin-law of Col. Goodloe. COLUMBUS, O., Nov. 21.-[Special.]Estimates made here from letters and dispatches from all parts of the state indithat the contest for Senator in between Col. Cal Brice, of Lima, and Hon. John H. Thomas, of Springfield, and Foster, that

14. December 3, 1889 Pittsburg Dispatch Pittsburgh, PA
Article from Pittsburg Dispatch, December 3, 1889

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A RECEIVER GRANTED, Senator Upperman's Mission Was Quite Successful. LEGAL ADVICE. AFTER Auditor General McCamant Signed the Petition to Courts. ASSIGNEE M'KELVEY IS SATISFIED. Senator Upperman was seen late last night after his return from Harrisburg. He was jubilant over the success of his mission, which was the dispossession of Assignee McKelvey and the choice of a receiver, as a means of satisfying the united demands of the depositors of the bank, whom himself and Attorney George C. Wilson represented in their mission to Harrisburg. He stated that they consulted with Auditor General McCamant and Deputy Attorney General Sanderson as to the necessity of the appointment of a receiver yesterday morning, and strongly argued in favor of dispensing with the usual formality of authorizing an investigation by an examiner because of the delay such a proceedure would involve, and because there was no doubt of the insolvency of the Lawrence Bank. They also presented a petition signed bv about 300 depositors of the institution asking for a receiver. A LEGAL OPINION IN FAVOR. Auditor General McCamant indicated his willingness to indorse the petition to the for a receiver, but was required to be in his action by the court governed decision The Deputy of the Law Department of the State. Attorney General gave the matter presented to him further consideration during the day, and at a consultation in the afternoon, at which the Pittsburg representatives of the suffering depositors were present, decided that the circumstances justified the appointment of a receiver at once. The Auditor General thereupon acquiesced in the request of the depositors by signing the petition asking the Allegheny county courts to appoint a receiver to take charge of the collapsed bank. Senator Upperman says that he stated to McCamant while there, that he did not believe the institution would pay 30 cents on the dollar of the amounts it owes to depositors. LAWRENCEVILLE DELIGHTED. The knowledge that many of the depositors of the Lawrence Bank heard yesterday afternoon that Auditor General McCamant favorably upon the petition for of a of the out the had appointment the acted affairs bank receiver caused to straighten great satisfaction. There was an air of quiet greater then monel in Lawrenceville and rumors

15. December 4, 1889 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, December 4, 1889

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The Lawrence Bank Case. PITTSBURGH, Dec. 3.-The depositors of the Lawrence Bank went into faurt to-day and presented 4 potition signed by Auditor McOamant, of Pennsylvania, asking for the removal of the assignee, and the appointment of a receiver. The court reserved its decision.

16. December 4, 1889 The Anaconda Standard Anaconda, MT
Article from The Anaconda Standard, December 4, 1889

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Failure of . Match Company. BESSEMER, Penn., Dec. 3.-The Loneo wing Match Co. assigned to-day. Assets and liabilities are unknown. The failure was caused by the suspension of the Law rence bank of Pittsburg. The capital stock of the company is half a million.

17. December 4, 1889 Wheeling Register Wheeling, WV
Article from Wheeling Register, December 4, 1889

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Lawrence Bank Case in Court, PITTSBURG, December 3.-The depositors of the Lawrence Bank went into Court to-day and presented a petition, signed by Auditor McCamant, of Pennsylvanis, asking for the removal of the 88signee and the appointment of a receiver. The Court reserved its decision.

18. December 4, 1889 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, December 4, 1889

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FORCED TO SHUT UP SHOP, A Heavy Failure Growing Out of the Lawrence Bank Crash. PITTSBURG. Pa., Dec. --The capital stock of the Love Manufacturing company, of Rochester, Pa.. which made an assignment to-day, is $500.0 O. J. B. Young, president of the company. is a large stockholder. and is also a director and stockholder in the Lawrence bank. The bank held several notes of considerable amount against the Love company. which the latter were unable to pay on maturity, and were forced to make an assignment. Supt. F. C. Biggert, who was made assignee. will make no estimate regarding liabilities. The works cover three acres, and give employment to 125 men. OBJECTIONABLE TO DEPOSITORS. This afternoon Attorney George C. Wilson, representing the depositors of the Lawrence bank. appeared in the common pleas court and filed a bill in equity. stating that the assignee. W. M. McKelvy, selected by the directors of the bank was objectionable to the depositors, and asked for the appointment of a receiver. Willis F. McCook replied on behalf of the bank, claiming that the conditions of the act of the assembly governing such cases had not been complied with in this case, and that the depositors had no legal right to make the application. Judge Stone will render his decision in the matter to-morrow.

19. December 4, 1889 Wheeling Register Wheeling, WV
Article from Wheeling Register, December 4, 1889

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The Bank Drew Down This Firm. PITTSBURG, December 3.-A Beaver, Pa., special save the Love Sewing Machine Company made an assignment to-day for the benefit of the creditors. The assets and liabilities are not known. Toe failure was caused by the suspension of the Lawrence bank of Pittsburg.

20. December 17, 1889 Pittsburg Dispatch Pittsburgh, PA
Article from Pittsburg Dispatch, December 17, 1889

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# THE LAWRENCE BANK MUDDLE. The resignation of Assignee McKelvy, of the Lawrence Bank, yesterday, is a rather peculiar outcome of the discussion over the failure of that institution. Mr. McKelvy's resignation is to take effect to-day, when his successor will be appointed. It is intimated by Mr. McKelvy's friends that this will delay the distribution of assets which might have been made soon, if Mr. McKelvy had remained in his place. It is necessary to remark that Mr. McKelvy shows rather extreme sensitiveness in applying to himself, personally, the criticisms which have grown out of the bankruptcy. If we mistake not, the depositors who have asked for a receiver have taken pains to avow that they have no objection to Mr. McKelvy; but that they wish the affairs of the bank settled by one who is subject to the public obligations of a receiver rather than by one who represents the stockholders of the concern. The remarks, which could not fail to be made, as to the delay in the appearance of a statement, were not any impeachment of the assignee; but were pertinent for their indication of the confusion that must exist in the accounts of the bank. It is also a little hard to believe, as is said to be asserted by the attorney of the bank, that if Mr. McKelvy has assets in his hands from which he could have distributed $100,000 among the depositors, his successor cannot take up the work where he leaves it. It should be recognized that such an assertion comes nearer to giving grounds for criticism of the assignee's course than anything else that has been said in the matter. For it represents that a man who has undertaken a duty and has the means of performing it promptly and satisfactorily throws it down on account of some criticisms which do not apply to him personally; and lets the depositors who are entitled to their money go without it for a prolonged period when he might have furnished the most complete answer to all criticisms by publishing a statement and making a material dividend. We must decline to believe that Mr. McKelvy has taken any such ill-judged action as that, except upon the clearest proof. Whatever truth, or otherwise, there may be in these conflicting views, it seems to point to the necessity of the settlement of the affairs of the bank by a receiver, under judicial supervision.

21. September 3, 1890 Pittsburg Dispatch Pittsburgh, PA
Article from Pittsburg Dispatch, September 3, 1890

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CAUGHT WITH HER BANK BOOK. One of the Delayed Depositors of the Lawrence Bank Injured. Mrs. Catherine Carey, a widow, residing at No. 220 Forty-fifth street, was knocked down and run over by a horse and buggy at the corner of Fifth avenue and Smithfeld street about 2 o'clock yesterday afternoon. Mrs. Carey is 62 years of age and was one of the depositors in the Lawrence Bank. She had $473.40 on deposit in the bank when it collapsed, and had been doing business with the institution since July 21, 1876. She was one of the numerous depositors that would not turn their books over to the Fidelity Title and Trust Company, and yesterday started for the company's office, on Fourth avenue, and while crossing at Fifth avenue was run down. She is lying at the Homeopathic Hospital suffering with concussion of the brain.

22. October 1, 1890 Pittsburg Dispatch Pittsburgh, PA
Article from Pittsburg Dispatch, October 1, 1890

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court room. Judge White discontinued the trial and sent the girl back to jail. Sentence, will prebably be suspended. THE suit of William B. Anderson against the Pittsburg and Lake Erie Railroad Company for damages caused by a house catching fire from sparks from the locomotive and burning down, is on trial before Judge Ewing. IN the suit of Elizabeth. Edward P. and Catharine Flinn against the Allegheny Heating Company, for damages for injuries caused by a natural gas explosion, a verdict was given yesterday for the plaintiffs in the sums of $75, $100 and $162. THE Fidelity Title and Trust Company, as assignee of the Lawrence Bank, yesterday obtained the permission of the Court to sell at public sale the bank building at the corner of Penn avenue and Butler street which was appraised at $20,000. THE suit of. George W. Parker and John Potts against the steamer Acme was argued before Judge Acheson in the United States Court yesterday. The defendants claim the United States Courts have no jurisdiction in the case as the boat is a ferry-boar in the Beaver river, which is not navigable. Decision was reserved.