16793. Allegheny Bank (Pittsburg (Allegheny), PA)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
state
Start Date
June 9, 1908
Location
Pittsburg (Allegheny), Pennsylvania (40.441, -79.996)

Metadata

Model
gpt-5-mini
Short Digest
e4b0af5fda9e2d50

Response Measures

None

Description

Articles (June 1908) report the cashier William Montgomery stole about $1,000,000 and 'ruining' the Allegheny Bank; a receiver is mentioned and stolen bonds were turned over to the receiver. This indicates a bank-specific adverse event (embezzlement) leading to failure and receivership (permanent closure). OCR corrected 'Pittssburg' to Pittsburg. No explicit mention of a depositor run in these items.

Events (3)

1. June 9, 1908 Other
Newspaper Excerpt
Cashier William Montgomery ... is now in jail for stealing a million dollars from the Allegheny Bank and ruining it, has turned over ... to the receiver of that bank.
Source
newspapers
2. June 9, 1908 Receivership
Newspaper Excerpt
has turned over ... to the receiver of that bank
Source
newspapers
3. June 9, 1908 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Cashier William Montgomery embezzled approximately $1,000,000, causing the bank to be ruined and a receiver to be appointed
Newspaper Excerpt
Montgomery ... is now in jail for stealing a million dollars from the Allegheny Bank and ruining it
Source
newspapers

Newspaper Articles (2)

Article from Goldsboro Weekly Argus, June 11, 1908

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Article Text

TELEGRAPHIC BREVITIES. Today's Passing Events Boiled Down For Busy Readers. Raleigh, June 8.-The Insurance department's receipts for May amounted to $10,589.82. Chicagoo, 9-Gov. Curtis Guild, of Massachusetts, reached the Coliseum this afternoon, and says he wants second place on the Taft ticket, and will stay in the race to the finish. Interna Jam es R. Young, of the fourth congressional district, this afternoon called the convention to nominate a democratic candidate for Congress and presidential elector for June eighteen, this city. Washington, June 8.-With Florida and Kentuckey contests, fully settled by the seating of the Taft delegates, the next fight of Taft and anti-Taft men before the republican national committee here will be over contesting delegates from Louisana. Washington, June 6.- Secretary Metcalf, after a conference with the President said to-day, that the two new battlnships voted by Congress last f session will be called Utah and Florida. Every State but Oklahoma and Wyoming now has namesake in the Navy. Pittssburg, June, 9.-The steel men of this section are in conference to-day in New York with the pig iron men of the country, in the office of the United Steel Corporation, at which, according to Judge Gary, chairman of the executive committee, the prices on all steel except rails will be cut. I Washington, June 6-Representative Thomas J. Heflin, of Alabama, indicted a few weeks ago for assault with a revolver on Lewis Landy, a negro, and Thomas MacGreary, a t racetrack man, during a street ear alteration in this city, will be arraigned Tuesday before Judge Barnard, of 2, criminal court; but while the Congressman has requested an early trial, the decket is so crowded the case will probably not be reached before fall. t Pittsburg, June 9.-Mrs. Erank Lee, once engaged to cashier William Montgomery, who is now in jail for stealing a million dollars from the Allegheny Bank and ruining it, has turned over 1 to the receiver of that bank [browery bonds amounting to one hundred and twenty-five thousand dollars, which were stolen by Montgomery and given to her. She thought he was investing the proceeds of her first husband's life insurance and making her a fortune. Washington, June 6.-A careful poll of Senators and representatives in a conference with President Roosevelt and Secretary Taft, shows that Gov. Curtis Guild, of Massachusetts, has little show for second place on the National ticket, and that despite the t widely circulated reports of coldness t between the President and Gov. Hughes, of New York, administration ticket makers would like Hughes on the Taft ticket. They are opposed to Fairbanks getting the renomination by default. The Dollavar boom is t gaining strength daily, however, and he may win.


Article from Edgefield Advertiser, June 17, 1908

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Article Text

Restores Stolen Bonds. Pittsburg, Pa., Special. - Mrs Frank Lee, once engaged to Cashier William Montgomery, who is now in jail for stealing a million dollars from the Allegheny Bank and running it, has turned in to the receiver, brewery bonds for $125,000 stolen by Montgomery and given to her. She thought he was investing the proceeds of her first husband's life insurance and making her a fortune.