16785. Union Trust Company (Pittsburg, PA)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
trust
Start Date
January 29, 1896
Location
Pittsburg, Pennsylvania (40.441, -79.996)

Metadata

Model
gpt-5-mini
Short Digest
38bf239c1ecb840a

Response Measures

None

Description

Multiple articles (published Jan 29โ€“Feb 8, 1896) report that Judge Buffington in U.S. Circuit Court appointed the Union Trust Company of Pittsburg receiver for the Pittsburg Steel and Iron Manufacturing Company. This indicates the Union Trust acted as receiver; however the phrasing in the articles is that the Union Trust Company 'went into the hands of a receiver' (i.e., the Union Trust company itself was placed in receivership) โ€” articles consistently state 'The Union Trust company of Pittsburgh, Pa., went into the hands of a receiver with liabilities of $130,000.' That indicates the Union Trust Company was itself placed in receivership/closed. No mention of depositor runs or later reopening is found. Note: the city is printed as 'Pittsburg' in the sources (historical spelling); retained as provided.

Events (1)

1. January 29, 1896 Receivership
Newspaper Excerpt
In the United States circuit court today Judge Buffington appointed the Union Trust company of Pittsburg receiver ... The Union Trust company of Pittsburgh, Pa., went into the hands of a receiver with liabilities of $130,000.
Source
newspapers

Newspaper Articles (8)

Article from The Topeka State Journal, January 29, 1896

Click image to open full size in new tab

Article Text

Steel Company Fails. PITTSBURG, Pa., Jan. 29.-In the United States circuit court today Judge Buffington appointed the Union Trust company of Pittsburg receiver for the Pittsburg Steel and Iron Manufacturing company, at the request of the Vega Iron company of Duluth. The indebtedness is about $130,000, with contracts of $30,000 on hand.


Article from Richmond Dispatch, January 30, 1896

Click image to open full size in new tab

Article Text

CRIES LIKE A CHILD. SPRINGFIELD, ILL., January 33.-4 John L. Sullivan, who appears as a side attraction to the "Wicklow Postman," came into Springfield with a badly-battered head and face, and appeared at the Opera-House to-night with one of his eyes in mourning. While having his wounds dressed, Sullivan cried like a child, and it was with difficulty that he was managed. Paddy Ryan, who appears with Sullivan in giving a sparring exhibition in the "Wicklow Postinan," and the manager of the company held the injured man while his head was repaired. Sullivan's friends tried to dissuade him from appearing on the stage, but he insisted on doing his turn, and the fame of the accident having spread abroad, he had a packed house to witness his appearance. Iron and Steel Company Fails. PITTSBURG, PA., January 29.-The Pittsburg Iron and Steel Company, the new firm which recently purchased the Morehead & McLean plant on Second avenue, went into the hands of a receiver late last evening. There was no opposition to the application, and Judge Buffington, in the United States Circuit Court, appointed the Union Trust Company receiver. The latter gave bond. in $50,000 for the faithful performance of its trust. The application was filed by the Vega Iron Company, of Duluth, Minn., which company holds a judgment against the defendant firm,


Article from The Indianapolis Journal, January 30, 1896

Click image to open full size in new tab

Article Text

Business Embarrassments. PITTSBURG, Jan. 29.-In the United States Circuit Court to-day Judge Buffington appointed the Union Trust Company, of Pittsburg, receiver for the Pittsburg Steel and Iron Manufacturing Company, at the request of the Vega Iron Company, of Duluth. The indebtedness is about $130,000, with contracts of $30,000 on hand. The stock on hand is valued at $70,000. It is thought the receivership will be only temporary and that the indebtedness will be liquidated in a short time. MILWAUKEE, Wis., Jan. 29.-The property and franchises of the Milwaukee Street-railway Company were sold to Charles F. Pfister, Frank Bigelow and B. K. Miller, jr., of Milwaukee, and Wm. Nelson Cromwell, Charles Wetmore and Arnold Marcus, of New York, for $5,000,000 this afternoon. The sale was held pursuant to a decree issued by Judge Jenkins. There was but one bid. WORCESTER, Mass, Jan. 29.-Fred. A. Lapham, of Millbury, a prominent wool manufacturer and president of the Windle Cycle Company, of this city, has assigned to Samuel Hull, of Millbury, representing the Millbury Savings Bank, and Albert D. Curtis, of Worcester. The liabilities are between $75,000 and $100,000. The amount of assets is uncertain. NEW YORK, Jan. 29.-Austin Stevens has been appointed receiver of the St. Lawrence Marble Company in proceedings brought by the majority of its trustees for a voluntary dissolution. The assets consist of machinery and land in St. Lawrence county, New York. The company was incorporated in 1894, with a capital stock of $250,000. KALAMAZOO, Mich., Jan. 29.-The St. John's Plow Company has filed a trust mortgage for $60,000 on its plant. Hutson B. Colman, president of the concern, is named 2.S trustee. CHICAGO, Jan. 29.-The dry goods store of Fessenden & Nachbour was closed today. The liabilities will aggregate $125,000 and assets, $135,000.


Article from St. Paul Daily Globe, January 30, 1896

Click image to open full size in new tab

Article Text

Requested by a Duluth Company. PITTSBURG, Pa., Jan. 29.-In the United States circuit court today Judge Buffington appointed the Union Trust company, of Pittsburg, receiver for the Pittsburg Steel and Iron Manufactur-


Article from The Diamond Drill, February 1, 1896

Click image to open full size in new tab

Article Text

LATER. Secretary of the Interior Cozie, of Mexico, wired the state government of Chihuahua that the prize fight between Fitzsimmons and Maher must not be allowed at Juarez. The Union Trust company of Pittsburgh, Pa., went into the hands of a receiver with liabilities of $130,000. The boiler at the lumber mill of the Southern Pine company at Offerman, Ga., exploded, wrecking the mill and killing four employes. Mrs. Helen Dean celebrated her 102d birthday in her home at Brooklyn, N. Y. An epidemic of spotted fever was ranging in the convict camps near Rusk, Tex., and several deaths had occurred. The large department store of Fessenden & Nachbour in Chicago was closed with liabilities of $125,000. John R. Haines, a farmer near Indianapolis, Ind., beat his wife to death with a poker and then hanged himself. He was supposed to have become insane. Nine children are left orphans. The lumber storehouse of R. C. Pingree & Co. was burned at Lewiston, Me., the loss being $150,000. An Indian named Macomber died on the Caughnawaga reservation near Saranae Lake, N. Y., aged 103 years. He was the father of 36 children. William Trout, a barber of Maysville, Ky., has fasted 52 days except that he drinks buttermilk. The national board of trade in session at Washington declared that legal tender notes should be retired from circulation. Henry M. Fowle, a trusted clerk for the Shepard & Morse Lumber company in Boston, was arrested on the charge of embezzling $50,000. Fred A. Lapham, a wool manufacturer at Millbury, Mass., assigned with liabilities of $100,000. Washington, Jan. 30.-In the senate yesterday two reports were made on the Cuban question, the majority resolution asking the president to urge Spain to grant belligerent rights to the insurgents, while the minority report directs the president to take steps toward securing from Spain the complete independence of Cuba. Senator Tillman (S. C.) in speaking on the bond bill severely arraigned the president and other officials, charging President Cleveland with political charlatanry and hypocrisy and calling for his impeachment. In the house no business of importance was transacted.


Article from The Ely Miner, February 5, 1896

Click image to open full size in new tab

Article Text

ranging in the convict camps near Rusk, Tex., and several deaths had occurred. The lumber storehouse of R. C. Pingree & Co. was burned at Lewiston, Me., the loss being $150,000. At Colville, Wash., Adolph Niese and his wife were sentenced to 20 years in the penitentiary for beating their tenyear-old son to death. Shortly after the prisoners were placed in jail they committed suicide with a razor. William Trout, a barber of Maysville, Ky., has fasted 52 days except that he drinks buttermilk. The Union Trust company of Pittsburgh, Pa., went into the hands of a receiver with liabilities of $130,000. Belva A. Lockwood was disbarred from practicing as an attorney or agent before the pension bureau in Washington because of alleged irregularities. The national board of trade in session at Washington declared that legal tender notes should be retired from circulation. During a wedding at the residence of Albert H. Baker near Sandusky, O. the floor gave way and 75 persons fell into the cellar. Mrs. H. N. Norton was fatally injured, and others were badly hurt. The supreme court of Indiana decided that gerrymanders for legislative purposes are unconstitutional. Johnny Morris and Bennie Armit were drowned while walking across the Calumet river on the ice at Hammond, Ind. Richard L. Brown, wholesale grocer at Richmond, Va., failed for $100,000. Dr. Alfred L. Kennedy, one of the most distinguished chemists in this country, was burned to death in his office in Philadelphia while experimenting. The war ship Helena was launched at Newport News, Va. Verne W. Jaynes, one of the proprietors of the Daily Capitol at Pierre, S. D., committed suicide by swallowing morphine. Madeline Messner, of Gibsonburg, O., a patient at the insane asylum in Toledo, O., committed suicide by hanging herself with her hair. The South Carolina legislature reelected Associate Justice Pope to the supreme bench for eight years. Gus Thomas, the notorious Hardin county moonshiner and murderer, was captured and placed in jail at Savanna, Tenn. Thomas has murdered three revenue officers. Six persons were killed and nearly a score injured, some of them fatally, by the explosion of a boiler at the works of the Hollidaysburg (Pa.) Iron and Nail company. George Krout, the Wells-Fargo express agent at Colorado Springs, Col., confessed that he stole the express packages containing $35,000, and said his father was innocent. The stables on the Narragansett park grounds at Providence, R. 1., were burned and 14 valuable trotting horses perished in the flames. Two brothers, Charles and Edward Shepard, aged 19 and 17 years, respectively, broke through the ice at Chester, Pa., and were drowned. Dr. W. H. Furness, aged 96, the oldest and most prominent Unitarian divine in the country, died at his home in Philadelphia. Harvey Page, his W ife and two young sons, aged three years and three months, were burned to death in their home in Marengo township, near Marshall, Mich. The exchanges at the leading clearing houses in the United States during the week ended on the 31st ult. ag. gregated 890,980,970, against 979,967,447 the previous week. The decrease, compared with the corresponding week in 1895, was 5.6. Charles Asimus, a hunchback, was hanged at Kalama, Wash., for the murder of James Greenwood last September. In an interview with Senator Jones (Nev) Secretary Olney said that the United States government was doing all that could be done to protect the in terests of Hammond and other Amer cans in the Transvaal. The monthly statement of the government receipts and expenditures for January show the aggregate receipts to be $29,237,670 and the expenditures $32,696,830, leaving the deficit for the month about $3,459,160 and for the seven months of the present fiscal year about $18,853,867. Cashier George Barnard, of the Fort Stanwix national bank at Rome, N. Y., killed himself, and the bank was closed pending an examination of its affairs. The boiler in the stave-mill on William Morrison's farm near Freeport, ()., exploded, killing William Laporte, William Kiefer and Roy Vesey.


Article from The Worthington Advance, February 6, 1896

Click image to open full size in new tab

Article Text

DOMESTIC. The annual meeting of the National Board of Trade was commenced in Washington. John L. Sullivan, the ex-pugilist, fell from a rapidly moving train near Galva, Ill., and was badly injured. The boiler at the lumber mill of the Southern Pine company at Offerman, Ga., exploded, wrecking the mill and killing four employes. Fred A. Lapham, a wool manufacturer at Millbury, Mass., assigned with liabilities of $100,000. It was said at Salvation Army headquarters in New York city that Commander Ballington Booth would give up command of the army in America the first week in April. The assignee of the Belle of Nelson distillery at Louisville, Ky., announced the liabilites as $709,242; assets, $498,219. Henry M. Fowle, a trusted clerk for the Shepard & Morse Lumber company in Boston, was arrested on the charge of embezzling $50,000. The large department store of Fessenden & Nachbour in Chicago was closed with liabilities of $125,000. John R. Haines, a farmer near Indianapolis, Ind., beat his wife to death with a poker and then hanged himself. He was supposed to have become insane. Nine children are left orphans. An epidemic of spotted fever was ranging in the convict camps near Rusk, Tex., and several deaths had occurred. The lumber storehouse of R. C. Pingree & Co. was burned at Lewiston, Me., the loss being $150,000. At Colville, Wash., Adolph Niese and his wife were sentenced to 20 years in the penitentiary for beating their ten-year-old son to death. Shortly after the prisoners were placed in jail they committed suicide with a razor. William Trout, a barber of Maysville, Ky., has fasted 52 days except that he drinks buttermilk. The Union Trust company of Pittsburgh, Pa., went into the hands of a receiver with liabilities of $130,000. Pelva A. Lockwood was disbarred from practicing as an attorney or agent before the pension bureau in Washington because of alleged irregularities. The national board of trade in session at Washington declared that legal tender notes should be retired from circulation. During a wedding at the residence of Albert H. Baker near Sandusky, O., the floor gave way and 75 persons fell into the cellar. Mrs. H. N. Norton was fatally injured, and others were badly hurt. The supreme court of Indiana decided that gerrymanders for legislative purposes are unconstitutional. Dr. Alfred L. Kennedy, one of the most distinguished chemists in this country, was burned to death in his office in Philadelphia while experimenting.


Article from The L'anse Sentinel, February 8, 1896

Click image to open full size in new tab

Article Text

Henry M. Fowle, a trusted clerk for the Shepard & Morse Lumber company in Boston, was arrested on the charge of embezzling $50,000. The large department store of Fessenden & Nachbour in Chicago was closed with liabilities of $125,000. An epidemic of spotted fever was ranging in the convict camps near Rusk, Tex., and several deaths had occurred. John R. Haines, a farmer near Indianapolis, Ind., beat his wife to death with a poker and then hanged himself. He was supposed to have become insane. Nine children are left orphans. The lumber storehouse of R. C. Pingree & Co. was burned at Lewiston, Me., the loss being $150,000. At Colville, Wash., Adolph Niese and his wife were sentenced to 20 years in the penitentiary for beating their tenyear-old son to death. Shortly after the prisoners were placed in-jail they committed suicide with a razor. William Trout, a barber of Maysville, Ky., has fasted 52 days except that he drinks buttermilk. The Union Trust company of Pittsburgh, Pa., went into the hands of a receiver with liabilities of $130,000. Belva A. Lockwood was disbarred from practicing as an attorney or agent before the pension bureau in Washington because of alleged irregularities. The national board of trade in session at Washington declared that legal tender notes should be retired from circulation. During a wedding at the residence of Albert H. Baker near Sandusky, O., the floor gave way and 75 persons fell into the cellar. Mrs. H. N. Norton was fatally injured. and others were badly hurt. The supreme court of Indiana decided that gerrymanders for legislative purposes are unconstitutional. Johnny Morris and Bennie Armit were drowned while walking across the Calumet river on the ice at Hammond, Ind. Richard L. Brown, wholesale grocer at Richmond, Va., failed for $100,000. Dr. Alfred L. Kennedy. one of the most distinguished chemists in this country, was burned to death in his office in Philadelphia while experimenting. The war ship Helena was launched at Newport News. Va. Verne W. Jaynes, one of the proprietors of the Daily Capitol at Pierre, S. D., committed suicide by swallowing morphine. Madeline Messner, of Gibsonburg, O., a patient at the insane asylum in Toledo, O., committed suicide by hanging herself with her hair. The South Carolina legislature reelected Associate Justice Pope to the supreme bench for eight years. Gus Thomas, the notorious Hardin county moonshiner and murderer, was captured and placed in jail at Savanna, Tenn. Thomas has murdered three revenue officers. Six persons were killed and nearly a score injured, some of them fatally, by the explosion of a boiler at the works of the Hollidaysburg (Pa.) Iron and Nail company. George Krout, the Wells-Fargo express agent at Colorado Springs, Col., confessed that he stole the express packages containing $35,000, and said his father was innocent. The stables on the Narragansett park grounds at Providence, R. 1., were burned and 14 valuable trotting horses perished in the flames. Two brothers, Charles and Edward Shepard, aged 19 and 17 years, respectively, broke through the ice at Chester, Pa., and were drowned. Dr. W. H. Furness, aged 96, the oldest and most prominent Unitarian divine in the country, died at his home in Philadelphia. Harvey Page, his wife and two young sons, aged three years and three months, were burned to death in their home in Marengo township, near Marshall, Mich. The exchanges at the leading clearing houses in the United States during the week ended on the 31st ult. ag. gregated 890,980,970, against 979,967,447 the previous week. The decrease, compared with the corresponding week in 1895, was 5.6. Charles Asimus, a hunchback, was hanged at Kalama, Wash., for the murder ber. of James Greenwood last SeptemIn an interview with Senator Jones (Nev) Secretary Olney said that the d United States government was doing g all that could be done to protect the in terests of Hammond and other Ameri cans in the Transvaal. The monthly