16942. Washington Savings Bank (Washington, PA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
April 11, 1882
Location
Washington, Pennsylvania (40.174, -80.247)

Metadata

Model
gpt-5-mini
Short Digest
34574ce9caa7cb9d

Response Measures

None

Description

Articles consistently report that Washington Savings Bank (Washington, PA) was compelled to suspend on April 11, 1882 because of large embezzlement by cashier Samuel Ruth. A receiver (Gen. John Hall) was appointed in early May 1882 and was converting assets; subsequent reporting describes criminal charges and conviction of Ruth (March 1883). There is no report of the bank reopening; the institution remained in receivership and stockholders were assessed, so classification is suspension leading to closure/receivership. OCR errors (e.g., 'Rutt' for 'Ruth' in some lines) were corrected when clear from context.

Events (3)
1. April 11, 1882 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended due to large defalcation/embezzlement by cashier Samuel Ruth (accounts over $100,000 short).
Newspaper Excerpt
On April 11, 1882, the bank was compelled to suspend on account of his defalcation.
Source
newspapers
2. May 7, 1882 Receivership
Newspaper Excerpt
Judge Hart appointed Gen. John Hall receiver ... Hall was directed to give bond ... and will at once proceed to a settlement of the bank's business. (Article dated May 8, 1882; appointment 'yesterday')
Source
newspapers
3. March 17, 1883 Other
Newspaper Excerpt
Samuel Ruth ... was found guilty of forgery and larceny. After the suspension it was found that his accounts were over $100,000 in arrears.
Source
newspapers

Newspaper Articles (15)
1. May 8, 1882 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, May 8, 1882

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RUTH'S RAID. The Latest Proceedings In Regard to the Depleted Bank. Special to the Intelligencer. WASHINGTON, PA.. May -Yesterday Lewis Barker, one of the stockholders of the Washington savings bank, filed a bill to dissolve the association. The substance of the bill is as follows: The stock of the bank consisted of 3,000 shares, at $50 per share, 20 per cent. of which has been paid in; that Cashier Ruth has confessed that he embezzled $60,000 of the bank's money an 1 cancelled his embezzlement by false entries; that the books are SO confused that the exact condition of the bank cannot be ascertained; that a part of the assets of the bank are at present unavailable; that it will take time to reduce its real estate to money; that this will not be sufficient to cover liabilities, and that a call on the stock will be necessary; that Jas. Kuntz, president, was a trustee, and all the real estate and loansare in his name and that on this account he is un willing to continue as trustee. The bill further requests that the stockholders and defendants m tke answer and comply with the order of the court; that the partnership be declared to be dissolved and a receiver appointed, and that stockholders contribute according to the number of their shares sufficient same to pay the liabilities of the bank. Judge Hart appointed Gen. John Hall receiver on application of Barker's attorney. Hall was directed to give bond in $150,000, and will at once proceed to a settlement of the bank's business. Barrett & Co.'s show gave two exhibitions, Friday afternoon and evening, to a large crowd of people.

2. June 16, 1882 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, June 16, 1882

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THE WASHINGTON SAVINGS BANK. A Partial Hearing in the Conspiracy Cases Held. Special Dispatch to the Intelligencer. WASHINGTON, PA., June 15.-The case of commonwealth vs. R. J. S. Thompson and Samuel Ruth, for conspiracy to defraud the Washington Savings Bank, was given a partial hearing before the grand jury, but postponed. The defense have asked for a continuance till next term of court on the ground that they desirea bill of particulars. The prosecution desire to go ahead with the case. The motion to continue has not yet been granted. General John Hall, receiver of the defanct bank, has sold all the real estate, and is, as rapidly as possible, converting the assets into cash. The amount of the deficiency will reach $160,000. The stockholders have already been called on for $40 per share, the par value of which is $50. While Ruth's testimony nt the hearing was very damaging to Dr. Thompson, many people do not believe that he is criminally connected with the affair. Fearing that the prosecuting attorney would have more than he could handle with the case, the Achesons have been employed for the prosecution. Boyd Crumrine is Thompson's attorney. The case, from its magnitude, has attracted unusual and widespread interest. +++

3. August 19, 1882 Wheeling Register Wheeling, WV
Article from Wheeling Register, August 19, 1882

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LITTLE WASHINGTON. Narrow Guage Road-A Big Suit-Political-Another Elopement. Special to the Register. WASHINGTON, Pa., August 18.-Messrs. L. E. Tennant, W. L. Hoffecker. and W. C. Mobley, of the Pittsburg and Western Railroad. came over the Pittsburg Southern yesterday and passed over the Waynesburg and Washington on a tour of inspection of both roads. It is reported that they are trying to effect a union of all the narrow gauge roads in western Pennsylvania. General John Hall, receiver of the Washington savings bank, has brought suit against Samuel Rutt, the defaulting cashier, and Alexander Rutt, Samuel McNinch, and S. A. Noble, his bondsmen, claiming damages of $100,000. The action is based upon the bond of the cashier. John C. Asbury. a colored student of Washington and Jefferson College, has been appointed to a $900 clerkship in the Pension Bureau at Washington city. The conferees of the Senatorial and Con. gressional districts, to which Washington county belongs, had another conference at Pittsburgb, yesterday, but with no definite result, as each county belonging to the district presented a candidate for each office. Another sensation has come to light. This time it is in the shape of an elopement. Some months ago a young man from Cincinnati, named Robert Logan alias Harry Horn. arrived here and made the arquaintance of a young miss of 16. named Ella Wolf. He returned to Washington a few days ago and met her frequently. and they finally left on the cars. Itis supposed that they have been married and started for Cincinnati, as he appeared to have plenty of money.

4. August 20, 1882 Wheeling Sunday Register Wheeling, WV
Article from Wheeling Sunday Register, August 20, 1882

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FRIDAY. LOCAL. Weather cool and pleasant, Attention called to bad condition of city fire plugs. Wm. Peel, a North. Wheeling coal miner, seriously injured at Bridgeport. Salaries of Catholic clergymen in this diocese increased from $500 to $600. Base ball at New Fair Grounds. Athletics, of Barnesville, VS. Standards. Score 44 to 1 in favor of the latter. Ed. Reis or Arthur Gerraghty challenged by M. J. Filan, of Pittsburgh, to a 10 or 20 mile go-as-you-please foot race, for 500 or $1,000. NEIGHBORHOOD. Sensational elopement,at Little Washington. Another street car line proposed in Bellaire. Market opened at Moundsville camp ground. Large number of arrivals at Moundsville camp ground. Work at Union coal mines, opposite Moundsville, resumed. Strike in George's Creek, Maryland, coal region considered at an end. A Benwood man offers to contribute sufficient ground for the erection of a glass house. Big suit at Washington, Pa. John Hall, receiver of Washington Saving's Bank, sues defaulting cashier and bondsmen for $100,000. Emigrant Inspector Vankirk, of Grafton, makes his report for the months of June and July. During June, 3,187 emigrants were inspected. and during July, 2,716. A Peculiar accident at Martin's Ferry. car breaks loose and starts down grade, dragging a horse, which was attached to it, along at a rapid rate. Poor brute terribly mangled. GENERAL. x Outbreak of Apaches in Arizona. Famine reported as imminent in Iceland. Uneasiness in London over news from Egypt. Massachusetts Greenbackers in State Convention. Three Italians drowned at Shaner's Station, Pa. Russia said to have formed an alliance x with Turkey against England. Bad break in coal miners' line at Pittsburgh. Sixty men return to work. Serious riot at a Georgia barbecue. One man killed and two others fatally injured. Arabi Bey said to be in constant receipt of English plans in advance of their execution. Horrible accident at Pittsburg. A man transfixed by a splinter of wood eight feet long, eight inches wide and an inch thick. Rumor that a Pittsburgh Lodge of the Amalgamated Association had voted to return to work at old scale pronounced a canard.

5. September 9, 1882 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, September 9, 1882

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A Defalcation of $120,000. WASHINGTON, Penn., Sept. 8.-N. R. Baker, an expert, appointed to overhaul the books of the Washington Savings Bank, has made his report to the Receiver and fixes the defalcation at a little less than $120,000. Ruth, the defaulter, acknowledges getting away with $60,000, leaving a balance of $40,000 not accounted for. The bank cases will probably come up for trial next week,

6. September 27, 1882 The Daily Gazette Wilmington, DE
Article from The Daily Gazette, September 27, 1882

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Washington Bank Defalcation. WASHINGTON, PA., Sept. 26.-General John Hall has made a partial report as re ceiver of the Washington Savings Bank. He has collected $75,000 and paid out $70,000. There were four men on the defaulting cashier's bond of $100,000, but as they would not come to time the receiver instituted proceedings against them, since which a compromise has been made with one of them by which the bank gets $15,000. The amount of the defalcation is a little over $117,000. By mutual consent the case has been postponed until January.

7. January 21, 1883 Daily Globe Saint Paul, MN
Article from Daily Globe, January 21, 1883

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EXAMINING BANK-BREAKERS. PITTSBURG, Jan. 20.-A Washington, Pa., special says Samuel Ruth, defaulting cashier, had a hearing to-day on two charges of forgery and two of larceny. W. A. Mickey, a stockholder of the Washingt on Savings bank, was the prosecutor. Jam es W. Kurtz, president of the bank, testified that Ruth was discharged in April last on his acknowledgement of defrauding the institution. Frank Gobby testified that he deposited $1,000 with Ruth, and Samuel Workman, clerk, swore that the books of the bank showed evidence of the money having been received, John Hall, receiver, testified that his first statement showed a deficiency of $146,000, but some assets would made the defaication less. Ruth was then held by the court in $6,000 bail.

8. January 21, 1883 Wheeling Sunday Register Wheeling, WV
Article from Wheeling Sunday Register, January 21, 1883

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RUTH'S RACKET, Hearing of the Washington Defaulting Cashier. Special Dispatch to the Sunday Register. WASHINGTON, PA., January 20.-Samuel Ruth, defaulting bank cashier, had a hearing to-day on two charges of forgery and two of larceny. W. A. Mickey, a stockholder of the Washington Savings Bank, Prosecutor James W. Kurtz, and the Presinent of the bank testified that Ruth was discharged in April on his acknowledgment of defrauding the institution. F. Gobby testified that he deposited $1.000 with Ruth and Samuel Workmen. The clerk swore that the books of the bank showed no evidence of money having been received. John Hall, receiver. testified his first state. ment showed a deficiency of $146,000, but that there were some assets that would make the defalcation less. Ruth was then held over for court at $6,000 bail.

9. January 21, 1883 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN
Article from Memphis Daily Appeal, January 21, 1883

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Ruth's Defalcation. WASHINGTON, PA., January 20.-Samuel Rutb, the defaulting cashier, had a hearing to-day on two charges of forgery and two of larceny. W. A. Mickey, a stockholder in the Washington Savings Bank, is prosecutor. James W. Kurtz, president of the bank, testified that Ruth was discharged in April last on his own acknowledgment of defraudirg the institution. Frank Gobby testified that he deposited $1000 with Ruth, and Samuel Workman, a clerk, swore that the books of the bank showed no evidence of the money having been received. John Hall, receiver, testified that his first statement showed a deficiency of $146,000, but some of the assets would make the defalcation less. Ruth was then held for court in $6000 bail.

10. January 21, 1883 New-York Tribune New York, NY
Article from New-York Tribune, January 21, 1883

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A DEFAULTING CASHIE ARRAIGNED. PITTSBURG, Penn., Jan. 20.-A dispatch from Washington, Penn., says Samuel Ruth, the defaulting cashier of the Washington Savings Bank, had a hearing to-day on two charges of forgery and two of larceny. W. A. Mickey, a stockholder of the bank, was the prosecutor. James W. Kurtz, president of the bank, testified th it Ruth was discharged in April last on his own acknowledgment of having defrauded the institution. Francis Gioby testified that he had deposited $1,000 with Ruth, and Samuel Worknfan, a clerk in the bank, declared that the books of the bank showed no evidence of the money having been received. John Hall, receiver, testified that his first statement showed the defleit to be $146,000, but that some assets would make the amount of the defalcation less. Ruth was then held in $6,000 bail for his appearance in court.

11. March 18, 1883 Daily Globe Saint Paul, MN
Article from Daily Globe, March 18, 1883

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CRIME RECORD. DEFAULTING CASHIER FOUND GUILTY. PITTSBURG, Pa., March 17.-The case of the commonwealth against Sam Ruth, de faulting cashier of the Washington Savings bank, at Washington, Pa., was given to the jury at 11 o'clock this morning, and at 2 o'clock this afternoon they returned a verdict of guilty. A motion in arrest of judgment was then made. The charges against Ruth were forgery and larceny, by employer. On April 11, 1882, the bank was compelled to suspend on account of his defalcation. After the suspension, it was found that his accounts were over $100,000 in arrears. He confessed to having taken the money. He said his ruin was caused by grain speculation. Upon investigation it was found that for two years prior to the discovery, he had been speculating in "the bank's money, and that during that time he had received large amounts from depositors, which he gave certificates for, pocketed the money and made no entry. The bank ordered an assessment, but A. McKey, stockholder, refused to pay his amount, and made information against Ruth, charging embezzlement, forgery and with making false returns to the United States internal revenue department. MADE IT UP. ATLANTA, Ga., March 17.-The difficulty between Col. M. E. Thornton and J. H. Norwood, was amicably adjusted to-day. They deny that pistols were drawn. DISCOVERED AND ARRESTED. PHILADELPHIA, March 17.-Holmes B. Kelly, of Philadelphia and Jas. Howard, of New York city, were arrested to-day for being concerned in issuing $100,000 forged bonds of the Albany & Susquehannah road ROBBED HIS WIFE. SALT LAKE, March 17.-A. S. Hill has decamped with $10,000 belonging to his wife, and officers are on his trail. He came to Salt Lake from the East a few years ago and married a widow here. ABORTIONIST ARRESTED. NEW York, March 17.-Wm. H. May, a physician in this city, was arrested to-day, charged with abortion. Dr. Margaret Miller reported to the police she had been called to attend Frances Seatter, a single woman twenty-three years old, and found the girl to be suffering from abortion. The latter being told that she was seriously ill, admitted an operation had been performed by Dr. May.

12. March 19, 1883 Savannah Morning News Savannah, GA
Article from Savannah Morning News, March 19, 1883

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A Defalting Cashier Sentenced. PITTSBURG, March 17,-Sam Ruth, the defaulting cashier of the Washington Savings Bank, of W ashington, Pa., was to-day found guilty of forgery and larceny. His accounts were over $100,000 in arrears, and the bank suspended April 11, 1882.

13. March 19, 1883 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, March 19, 1883

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Conviction of a Cashier. PITTSBURG, March 17.-The case of the Commonwealth against Samuel Ruth. defaulting cashier of the Washington Savings Bank, Washington, Pa., was given to the jury at 11 this morning, and at 2 this afternoon they returned a verdict of guilty. A motion in arrest of judgment was then made. The charges against Ruth were forgery and larceny by an employe. On April 11, 1882, the bank was compelled to suspend on account of his defalcation. After suspension it was found that his accounts were over $100,000 in arrears, He confessed to having taken the money, and said his ruin was caused by grain speculation. Upon investigation it was found that for two years prior to the discovery he had been speculating on the bank's money, and that during that time he had received large amounts from depositors, which he gave certificates for, pocketed the money and made no entry. The bank ordered an assessment, but A. Mickey, stockholder, refused to pay his amount and made information against Ruth, charging embezzlement, forgery and with making false returns to the United States Internal Revenue department.

14. March 19, 1883 Daily Globe Saint Paul, MN
Article from Daily Globe, March 19, 1883

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CRIME RECORD. DEFAULTING CASHIER FOUND GUILTY. PITTSBURG, Pa., March 17.-The case of the commonwealth against Sam Ruth, de faulting cashier of the Washington Savings bank, at Washington, Pa., was given to the jury at 11 o'clock this morning, and at 2 o'clock this afternoon they returned a verdict of guilty. A motion in arrest of judgment was then made. The charges against Ruth were forgery and larceny, by employer. On April 11, 1882, the bank was compelled to suspend on account of his defalcation. After the suspension, it was found that his accounts were over $100,000 in arrears. He confessed to having taken the money. He said his ruin was caused by grain speculation. Upon investigation it was found that for two years prior to the discovery, he had been speculating in "the bank's money. and that during that time he had received large amounts from depositors, which he gave certificates for, pocketed the money and made no entry. The bank ordered an assessment, but A. McKey, stockholder, refused to pay his amount, and made information against Ruth, charging embezzlement, forgery and with making false returns to the United States internal revenue department. MADE IT UP. ATLANTA, Ga., March 17.-The difficulty between Col. M. E. Thornton and J. H. Norwood, was amicably adjusted to-day. They deny that pistols were drawn. DISCOVERED AND ARRESTED. PHILADELPHIA, March 17.-Holmes B. Kelly, of Philadelphia and Jas. Howard, of New York city, were arrested to-day for being concerned in issuing $100,000 forged bonds of the Albany & Susquehannah road ROBBED HIS WIFE. SALT LAKE, March 17.-A. S. Hill has decamped with $10,000 belonging to his wife, and officers are on his trail. He came to Salt Lake from the East a few years ago and married a widow here. ABORTIONIST ARRESTED. NEW YORK, March 17.-Wm. H, May, a physician in this city, was arrested to-day, charged with abortion. Dr. Maigaret Miller reported to the police she had been called to attend Frances Seatter, a single woman twenty-three years old, and found the girl to be suffering from abortion. The latter being told that she was seriously ill, admitted an operation had been performed by Dr. May.

15. March 21, 1883 The Wellington Enterprise Wellington, OH
Article from The Wellington Enterprise, March 21, 1883

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were burned at Texarkana, Ark., on the 16th. Loss, $100,000: insure I for $ 5,000. A FIRE at Bloomington, Ind., on the 16th destroyed all the business houses on the west side of the Square. The loss, it is thought, will each $75,000. SAMUEL RUTH, defaulting cashier of the Washington (Pa.) Sayings Bank, was found guilty of fo gery and larceny by-employe, on the 17th. The bank was forced to suspend in April last. After the close it was found that Ruth's accounts were $100,000 short. He confesse I to having taken the money, and 8N d his ruin was caused br grain speculation. Upon investigation it was fou d that for two years prior to discovery he had been speculating on the bank's money. and that d ring that time he had received large amounts from depositors, which he gave certificates for, pockete i the money and made no entry. JOSEPH HARRIGES, an aged miser, died at Philadelphia on the 18th. His death recalls the fact that thirteen years before it was discovered that he had had his idiot brother John penned up.in a filthy garret for fifteen years and was nearly lynched by a mob in consequence. THE annual meeting of the American Tract Society was held at Washington on the 18th, Justice Strong presiding. The Secretary presented a report showing the total receipts of the year as $373,000; expenditures, $368,000; donations and legac es, $100,400. THE Miami Company's distillery at Hamilton, Ohio, was destroyed by fire on the 17th. Loss $100,000 Fully i sured. The bonded warehouses and outhouses were saved. BENJAMIN BATES, aged forty-nine, suicided at Richm nd, Va., on the 18th by shooting himself through the heart. He was a grand nephew of Edward Bates, Attorney General under President Li coln, and was the head of 2 large b ok house of Richmond for some years. JOSEPH SHOCK, one of the oldest and wealthiest citizens of Miamisburg, Montgom ery County, Ohio, suicided on the 19th by cutting his throat. There was 1:0 plausible explanation of his rash act as he was in good health and circumstances. DR. WILLIAMS. FORBES, Demonstrator of Anatomy in the Jefferson Medical College