16781. Treasury Trust Company (Pittsburg, PA)

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust
Start Date: January 22, 1908
Location: Pittsburg, Pennsylvania (40.441, -79.996)

Metadata

Model: gpt-5-mini
Short Digest: 43319789cfc32643

Response Measures

None

Description

Multiple articles (Jan 22–23, 1908) report the Treasury Trust Company (a subsidiary of the Traders and Mechanics' Bank) was closed along with the parent bank by order of the State Banking Commissioner and a temporary receiver appointed. No run or depositor panic is reported; closure appears government-ordered with a receiver, implying permanent suspension/receivership rather than a temporary reopening.

Events (2)

1. January 22, 1908 Receivership

Newspaper Excerpt: Closed by order of State Banking Commissioner James L. White, temporary receiver.
Source: newspapers

2. January 22, 1908 Suspension

Cause: Government Action
Cause Details: Closed by order of State Banking Commissioner James L. White; trouble attributed to inability to make clearings and maintain reserve.
Newspaper Excerpt: The Treasury Trust Company, a subsidiary ... was also closed.
Source: newspapers

Newspaper Articles (12)

1. January 22, 1908 Evening Star Washington, DC

Article from Evening Star, January 22, 1908

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Article Text

PITTSBURG BANK QUITS. Traders and Mechanics' Closes Its Doors-Receiver's Statement. PITTSBURG, January 22.-The Traders and Mechanics' Bank, a state institution with a capital of $100,000. closed its doors today. The following notice was posted: "Closed by order of State Banking Commissioner James L. White, temporary receiver." The Treasury Trust Company, a subsidiary. occupying the same building, at 4th avenue and Market street. was also closed. Some time ago the trust company made preparations to absorb the bank. but permission was refused by the state banking department. The plan was then reversed and the trust company had been practically taken over by the bank, but no official announcement had been made. According to Temporary Receiver White the trouble results from the inability of the bank to make clearings and maintain its reserve. From present conditions, Re. ceiver White says, the depositors will be paid in full.

2. January 22, 1908 The Evening Star and Newark Advertiser Newark, NJ

Article from The Evening Star and Newark Advertiser, January 22, 1908

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Article Text

PITTSBURG BANK AND TRUST COMPANY CLOSE. Institutions Will Pay Depositors in Full, Declares Receiver White. PITTSBURG, Pa., Jan. 22.-The Traders' and Mechanics' Bank, a State inetitution, with a capital of $100,000, closed its doors today. The following notice was posted: "Closed by order of State Banking Commissioner James L. White, temporary receiver." The Treasury Trust Company, a subsidiary, occupying the same building at Fourth avenue and Market street, was also closed. Some time ago the trust company made preparations to absorb the bank, but permission was refused by the State Banking Department. The plan was then reversed, and the trust company had been practically taken over by the bank, but no official announcement had been made. According to Temporary Receiver White. the trouble results from the inability to make clearings and maintain its reserve. From present conditions Receiver White says the depositors will be paid in full.

3. January 22, 1908 Santa Fe New Mexican Santa Fe., Santa Fe, NM

Article from Santa Fe New Mexican, January 22, 1908

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Article Text

TWO SMALL PITTSBURG BANKS CLOSE DOORS Pittsburg, Pa., Jan. 22.-The Traders and Mechanics Bank, a small institution here, was closed today by the state bank examiner. The Treasury Trust Company, a subsidiary of this bank, was also closed. James T. White, temporary receiver of the bank said the trouble resulted from an inability to make clearings and maintain a reserve. The indications he said. are that the depositors will be paid in full.

4. January 22, 1908 The Laramie Republican Laramie, WY

Article from The Laramie Republican, January 22, 1908

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Article Text

STATE BANK FAILS. Inability to Make Clearings and Maintain Reserve Given as Cause, Pittsburg, Pa., Jan. 22.-The Traders' and Mechanics' bank, a state institution, was closed today by the state bank examiner. The Treasurer Trust company, a subsidiary of the bank, was also closed. James L. White, temporary receiver for the bank, said the trouble results from inability to make clearings and maintain the resrve. The indications, he said, are that the depositors will be paid in full. The last statement of the bank showed deposits and certified checks of nearly half a million dollars.

5. January 22, 1908 Deseret Evening News Salt Lake City, UT

Article from Deseret Evening News, January 22, 1908

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Article Text

PITTSBURG BANK FAILS. Traders and Mechanics', State Institution, Capital $100,000. Pittsburg, Jan. 22-The Traders and Mechanics' bank, a state institution, was closed today by the bank examiners. The Treasury Trust company a subsidiary, occupying the same building was closed, but voluntarily, it is said. The Traders and Mechanics' bank had a capital of $100,000. It was closed by order of James L. White, as temporary receiver. Some time ago the trust company made preparations to absorb the bank, but permission was refused by the state banking department. The plan was then reversed and the trust company had been practically taken over by the bank but no official announcement had been made. According to Received White, the trouble results from the inability of the bank to make clearings and maintain its reserve. From present conditions, Receiver White says, the depositors will be paid in full.

6. January 23, 1908 New-York Tribune New York, NY

Article from New-York Tribune, January 23, 1908

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Article Text

PITTSBURG INSTITUTIONS CLOSED. Traders and Mechanics' Bank and Its Subsidiary, the Treasury Trust Company. Pittsburg, Jan. 22. - The Traders and Mechanics' Bank, a state institution with a capital of $100,000, closed its doors to-day. The following notice was posted: "Closed by order of State Banking Commissioner James L. White, temporary receiver." The Treasury Trust Company, a subsidiary, occupying the same building, at Fourth avenue and Market street, was also closed. Some time ago the trust company made preparations to absorb the bank, but permission was refused by the State Banking Department. The plan was then reversed, and the trust company had been practically taken over by the bank, but no official announcement had been made. According to Mr. White, the trouble results from the inability of the bank to make clearings and maintain its reserve.

7. January 23, 1908 The Montgomery Advertiser Montgomery, AL

Article from The Montgomery Advertiser, January 23, 1908

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Article Text

PITTSBURG BANK FAILS. The Traders and Mechanics Bonk Closes Its Doors. Pittsburg. Jan. 28.-The Traders and Mechanics Bank, a state institution with a capital of $100,000, closed its doors today. The following notice was posted upon the door: "Closed by order of State Banking Commissioner James L White, temporary receiver." The Treasury Trust Company, a subsidiary company, occupying the same building at Fourth Avenue and Market Street, was also closed. Some time ago the trust company made preparations to absorb the bank but permission was refused by the State Banking Department. The plan was then reversed and the trust company had been practically taken over by the bank but no official announcement had been made. According to Temporary Receiver White, the trouble results from the inability of the bank to make clearings and maintain its reserve. From present conditions, Receiver White says the depositors will be paid in full.

8. January 23, 1908 The Pacific Commercial Advertiser Honolulu, HI

Article from The Pacific Commercial Advertiser, January 23, 1908

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Article Text

ANOTHER BANK SUSPENDS. PITTSBURG, January 22.-The Traders and Mechanics Bank and the Treasury Trust Company have suspended. -

9. January 23, 1908 Waterbury Evening Democrat Waterbury, CT

Article from Waterbury Evening Democrat, January 23, 1908

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Article Text

Pittsburg Bank Fails. Pittsburg, Jan. -The Traders and Mechanics' bank, a state institution, with a capital of $100,000. closed its doors, and James L. White was appointed temporary receiver. The Treasury Trust company. a subsidiary, occupying the same building at Fourth avenue and Market street, was also closed.

10. January 23, 1908 The Bemidji Daily Pioneer Bemidji, MN

Article from The Bemidji Daily Pioneer, January 23, 1908

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Article Text

PITTSBURG BANK CLOSED. Subsidiary Trust Company Also Suspends Business. Pittsburg, Jan. 23.-The Traders and Mechanics' bank, a state institution, has been closed by the state bank examiners. The Treasury Trust company, a subsidiary, occupying the same building, also closed, but voluntarily, it is said. Some time ago the trust company made preparations to absorb the bank, but permission was refused by the state banking department. The plan was then reversed and the trust company had been practically taken over by the bank, but no official announcement had been made. According to Temporary Receiver White the trouble results from the inability of the bank to make clearings and maintain its reserve. From present conditions Receiver White says the depositors will be paid in full.

11. January 23, 1908 The Barre Daily Times Barre, VT

Article from The Barre Daily Times, January 23, 1908

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Article Text

PITTSBURG BANK FAILS; DEPOSITORS TO GET ALL. Traders and Mechanics' and a Subsidiary Trust Company Closed. Pittsburg, Jan. 23.-The Traders' and Mechanics' bank a state institution with a capital of $100,000, closed its doors yesterday, and James L. White was appointed temporary receiver. The Treasury Trust company, a subsidiary, occupying the same building at Fourth avenue and Market street, was also closed. Accordling to Mr. White the trouble results from the inability of the bank to make clearings and maintain its reserve. The depositors probably will be paid in full.

12. January 25, 1908 The Irish Standard Minneapolis, Saint Paul, MN

Article from The Irish Standard, January 25, 1908

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Article Text

PITTSBURG BANK IS CLOSED STATE INSTITUTION SHUTS ITS DOORS TEMPORARILY. Receiver Says Indications Are That Depositors Will Be Paid Their Cash In Full. Pittsburg, Pa., Jan. 23.-The Traders' and Mechanics' bank, a state institution with a capital of $100,000, closed its doors Wednesday. The following notice was posted: "Closed by order of State Banking Commissioner James L. White, temporary receiver." The Treasury Trust company, a subsidiary, occupying the same building at Fourth avenue and Market street, was also closed. Some time ago the trust company made preparations to absorb the bank, but permission was refused by the state banking department. The plan was then reversed and the trust company had been practically taken over by the bank, but no official announcement had been made. According to Temporary Receiver White, the trouble results from the inability of the bank to make clearings and maintain its reserve. From present conditions, Receiver White says, the depositors will be paid in full. William Kemmler, Jr., is president of the Traders' and Mechanics' bank. The suspension, it is said, has been expected in financial circles for some time. Only a few persons congregated around the bank, and there was no excitement. The condition of the bank, published December 19, showed that the deposits, checks and special, time certificates of deposit and certified checks, amounted to $431,577.37, while the money due from the banks and bankers amounted to $39,656.42. Chicago, Jan. 23.-A. C. Tisdelle, private banker at 94 La Salle street, has made an assignment of his bank and all its property and assets to Charles A. Root, his cashier, and the doors of the bank were closed to depositors and others Wednesday. Every move in the assignment, which involved liabilities of $73,957.47, was surrounded with mystery, and the details were said to be unusual. The assets are given as valued at $95,786.29. It was learned that the affairs of the Commonwealth Trust and Savings bank, the union labor four per cent. bank, which were about to be finally wound up, figured in Tisdelle's misfortune. Boise, Idaho, Jan. 23.-Walter S. Bruce was Wednesday appointed re ceiver of the Capital State bank, which suspended.