18462. Allegheny Savings Bank (Allegheny, PA)

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: October 3, 1877
Location: Allegheny, Pennsylvania (40.451, -80.016)

Metadata

Model: gpt-5-mini
Short Digest: 4796aa0a

Response Measures

None

Description

Allegheny Savings Bank suspended payment on Oct 3, 1877 due to inability to convert largely real-estate assets into cash. Articles mention a run about a year earlier but the immediate event reported is a suspension and consequent failure (no reopening reported).

Events (1)

1. October 3, 1877 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Directors stated inability to convert assets (largely real estate and mortgages) into money immediately; liquidity shortfall after steady deposit shrinkage following a run a year earlier; owes secured debts and mortgages about $128,000 and deposits reduced from ~$1.3M to ~$591k at suspension.
Newspaper Excerpt: The Allegheny Savings bank, the oldest bank in Allegheny City, suspended this morning. The directors ... being unable to convert its assets into money immediately have deemed it proper to suspend payment.
Source: newspapers

Newspaper Articles (13)

1. October 3, 1877 Daily Press and Dakotaian Yankton, SD

Article from Daily Press and Dakotaian, October 3, 1877

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committees then appointed Rev. Dr. Clark, foreign secretary of the board, who delivered an address on the claims of the unevangelized lands, on Christian churches, and Rev. Mr. Behrenis made an address on the missionary problem and its solution. Also over two hundred clergymen and theological students were preaent; bishops, nearly sixty in number, entered about 11 o'clock. Bishop Smith, of Kentucky, whose date of concecration is 1832, headed the procession, and Bishop Perry, of Iowa, closing it. The services were most impressive. FAILURE. Pittsburg, Oct. 3.-The Allegheny Savings bank, the oldest bank in Allegheny City, suspended this morning. The stockholders are individually liable, and the directors hope to pay all depositora. Last year about this time the deposits aggregated $1,312,000, but the run has been progressing steadily since that, 80 that now they are not over $591,000, of which the directors and stockholders own $100,000. The bank also owes to other banks $128,000. The assets chiefly on real estate aggregate $748.000. Boston, Oct. 3.-The Cape Cod. five cent savings bank, at Harwich, Monday, suspended till to-day, when a meeting of the officers is to be held.

2. October 3, 1877 The Rock Island Argus Rock Island, IL

Article from The Rock Island Argus, October 3, 1877

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Another Busted Bank. PITTSBURG, Oct.3.-The Allegheny savings bank, in Alleghney city, suspended this morning.

3. October 4, 1877 The Daily Gazette Wilmington, DE

Article from The Daily Gazette, October 4, 1877

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GENERAL NEWS. Senator Morton is doing so well that his friends hope to take him to his ho me in Indianapolis within two weeks. The Cape Cod Five Cents Savings Bank ot Harwich, Mass., suspended on Monday, the suspension to continue until a meeting of the officers, to be held yesterday. There had been a run upon the bank and over $75,000 had been paid out. The treasurer says the bank was never in better condition than before the commencement of the run. The Galt House, in Louisville, Ky., was sold yesterday by order of assigneesIt brought $157,000, its original cost hav. ing been upwards of $1,000,000. The Allegheny Savings Bank, the oldest bank in Alleghaney City, Pa., suspended yesterday morning. The Directors posted a notice on the doors stating that tue suspension was caused by the in ability of the concern to convert its assets into money; that the stockholders are individually liable, and it is hoped all the depositors will be paid. It is understood that the bank's deposits have been steadily decreasing since the run upo n it last year, and do not now exceed $591,000, of which about $100,000 belongs to the stockholders. In addition, the bank owes secured debts and mortgages to the amount of $128,000. Its assets, chiefly real estate, uggregate $748,000. A telegram from Camp Rooinson says that twenty lodges of Sieux left Spotted Tail for the north on Tuesday night. a nd adds: "It is believed that for every lodge that comes into the lodge six go out."

4. October 4, 1877 The Sun New York, NY

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EMBAARRISSED SAVINGS BANKS. Suspension of One in Allegheny City, Pa., and of Another on Cape Cod. PITTSBURGH, Oct. 3.-The Allegheny Savings Bank. the oldest bank in Allegheny City, suspended payment this morning. The following notice is posted on the doors: The directors of the Aliegheny Savings Bank. being unable to convert its a.spts into money immediately have deemed it proper to suspend payment in addition to the assets of the bank. the tockholders are individually liable. and the directors hope to pay all the depositors. About this time last year a run was made on the bank. but the officers met all the demands 80 promptly that the run soon censed. It is ascertained that at the time of the run last year the deposits aggregated $1,312,000. but singe that time they have been steadily reduced. and do not now exceed $591,000, of which amount about $100,000 belongs to the directors and stockholders. In addition to this the bank owes secured debts to other banks and money borrowed on mortgages to the amount of $128.000. The assets. consisting largely of real estate. will aggregate $718,000. BOSTON, Another savings bank on the cape is in trouble The Cape Cod Five Cents Savings Bank at Harwich on Monday stopped payments till to-day. when a meeting of the officers is to be held. A run was announced Saturday. The treasurer says he has paid out about $75,000 or $100,000. He reports the bank as never in better condition since its incorporation than it was before the run.

5. October 4, 1877 The Wheeling Daily Intelligencer Wheeling, WV

Article from The Wheeling Daily Intelligencer, October 4, 1877

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: Another Savings Bank Gone Up the Spout. I PITTSBURGH, PA., October 3.-The Al, legheny Savings Bank, the oldest bank ) in Allegheny city, suspended payment this morning. The following notice is posted on the door: "The Directors of the Allegheny Savings Bank, being unable to convert its assets into money immediately, have deemed it proper to suspend payment." In addition to the assets of the bank, the stockholders are individually liable, and the Directors hope to pay all their depositors. About this time last year a run was made on the bank, but the officers met all the demands 80 promptly that the run soon ceased. It is ascertained that at the time of the run last year the deposits aggregated $1,312,000, but since that time they have been steadily reduced and do not now exceed $591,000, of which amount about $100,000 belong to the Directors and stockholders. In addition to this, the bank owes secured debts to other banks and money borrowed on mortgages to the amount of $128,000. The assets, consisting largely of real estate, will aggregate $748,000.

6. October 4, 1877 The Cincinnati Daily Star Cincinnati, OH

Article from The Cincinnati Daily Star, October 4, 1877

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Score One More. National Associated Press to the Star. PITTSBURG Oct. 4.-The Allegheny Savings Bank, of Allegheny City, suspended payment yesterday morning. Assets and liabilities not known yet, but the Directors hope to pay all depositors.

7. October 4, 1877 Public Ledger Memphis, TN

Article from Public Ledger, October 4, 1877

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TELEGRAPHIC BREVITIES. Russia has ordered three hundred Krupp cannon. The Democratic State convention met at Albany yesterday. The navigation of the upper Mississippi river may be considered closed for the season. The last regiment of the Russian Imperial Guard passed through Bucharest yesterday. The Allegheny Savings Bank, the oldest bank in Allegheny City, suspended payment yesterday morning. One hundred thousand pounds worth of bar gold was withdrawn from the Bank of England yesterday for shipment to New York. The Galt House at Louisville was sold yesterday by order of the assignees, for $157,000. The original cost was over one million. By the explosion of a saw-mill boiler near Studertown, Ohio, yesterday, three young men were killed and several others seriously injured. By the explosion of the steamer Comfort, near Wheeling yesterday, five persons were killed, three are still missing, and fifteen wounded-two of them fatally. Greater activity is observable before Plevna since Monday. The reserve and reinforcements have arrived, and it is thought probable that operations will commence early next week An insurrection appears to have broken out in one of the Zoaly Islands, as a telegram received at Madrid, from Singapore, announoes the defeat of 20,000 insurgents by the Spanish troops. No deaths from yellow fever yesterday at Fernandina. Six new cases. Most of the physicians are sick, and the city is in a more deplorable condition than at any time since the epidemic commenced. Many arrests have been made in Transylvania. Much sensation has been caused in Pesth by M. Helfy, a wellknown member of the diet, being placed under police surveillance for connection with the recently discovered plot. Bullion drawn from the Bank of England on balance yesterday, £500,000. Imperal Bank of Germany has raised the rate of discount to 51 per cent., and interest on advance to 61 per cent. £170,000 of the £500,000 withdrawn from the Bank of England is for the United States. The steamer Magnolia, of 1200 tons, worth about $200,000, and insured, which left Savannah for New York, was lost at sea, on the 30th The passengers and a crew were all picked up in a boat and sent in a pilot boat to Lavis, Delaware, where they arrived yesterday. The trial of rioters progresses at Read ing, Pa. Two witnesses testified to a S Union meeting being held Saturday g evening previous to the burning of the Lebanon Valley bridge, at which suggestions were made that the bridge could be 8 blown up with a keg of powder. Somea thing was also said of & general agree ment to stop trains, but no definite action was taken. Wm. H. Vanderbilt, president of the d Lake Shore and Michigan Southern rail e road, has notified all officers and em it ployes affected by the July reduction o ten per cent., whose pay amounts to less

8. October 5, 1877 Bismarck Tri-Weekly Tribune Bismarck, ND

Article from Bismarck Tri-Weekly Tribune, October 5, 1877

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BISMARCK, D. T., FRIDAY, OCTOBER 5, 1877. HOTELS. BY TELEGRAPH. St. Paul Business Directory. (Chas. P. Peabody. Maurice Lyons. W. L. Perkins.) Special to the Bismarck Tribune. Merchant's Hotel, DEABODY, LYONS & CO.-Importers and Dealera in Fire Wines and Liquors, Old Bourbon Sr. PAUL, Oct. 4 Cor. Main and Third St., and Rye Whiskies, California Wines and Brandies, THE NEW YORK DEMOCRATIC Scotch Ale, Dublin and London Porter. No. 96 5-5 East Third Street, St. Paul, Minn. Bismarck, D. T. Convention met yesterday and TammaRAIG & LARKIN-Importers and dealers in ny was triumphant in the election of the Crockery, French China, Glassware, Lamps, L. N. GRIFFIN, committee on contested seats-a big Looking Glasses, and House Furnishing Goods. East Third Street. St. Paul. Minn Proprietor. point for Tammany. AMPBELL, BURBANK & CO., Manufacturers RUN OUT. Building n and commodious, rooms large, com and Jobbers of Clothing and Gents Furnishing fortable and tastily furnished. First class in every Goods, No. 89 East Third Street, St. Paul, Minn. The oldest savings bank of Allegheny 3-27tf particular. Bills reasonable. City, the Allegheny Savings Bank, susM ATHES. GOOD & SCHURMEIER, Merchant Tallors, and dealers in Gents' Furnishing Goods, No. 82 Jackson Street, St. Paul, Minn. Suits made pended yesterday on account of a run by n the most fashionable style, at short notice. CAPITOL HOTEL , the depositors. The Cape Cod five per C. COE-Manufacturer of Shirts and Undercent Savings Bank, Hancock, Mass., also D. wear. 27 W. Third Street, St. Paul. 23-6m Chester A. King, suspended. HAS, F. PU3H-Merchant Tailor, and dealer In C PROPRIETOR INDICTED. Gents' Furnishing Goods, Cor. Ninth and St. Seter Sts., St. Paul. Military Uniforms Made a Cashier Preston, of the suspended 48-6m Specialty Main Street, - Bismarck, D. T. Trust Co., Patterson, N. was indicted First Class Hotel in every by grand jury for illegal sale of assets afMinneapolis Business Directory. LARK HOUSE-Corner Fourth Street and HenParticular. ter the company's suspension. nepin Ave., two Blocks from the Academy of Oct. 14,1875. BIG FORGER. Music. Only first class Two Dollar House, New, elegantly furnished, and situated in the finest porWm. C. Gilman, insurance broker of the City. CUSTERHOTEL tion of N. Y., has been discovered in forgeries by raising insurance certificates to the THOS. MCGOWAN, Proprietor. amount of $207,000. Gilman has disapReal Estate. peared. Fifth St. near Main, AT IT AGAIN. Wm. Cooper, stock operator in San BISMARCK, D. T. 500 Lots for Sale Francisco, has disappeared, having forgThis house is large three story building, entirely ed checks to the amount of $50,000. He new, well lighted and heated, situated only a few rods from the depot. River men railroad men, is believed to be the same person who, miners and army people will find first class accom5-7 modations at reasonable prices. IN THE in '67 on the day of his marriage to the daughter of Defrees, government printer, Western House, was arrested for forgeries on the navy department for which he was sent to prisMost Desirable Part of the City of Malloy Brothers, on for five years. Proprietrs, A GREAT FIRE Main Street, BISMARCK, D. occurred in McKeesport, Pa., Tuesday This Hotel is New, well furnished, and the tables supplied with the best the market affords. Bismarck night. At last report it was still burnPrices Reasonable. ing. SWEETZER, FORSTER'S Parties having built upon lots to which they have the pacing horse in the Cleveland not received deeds will call on the undersigned immediately and get their deeds if they desire the lots, club races yesterday made a mile in 2.16, otherwise they will be sold. the fastest pacing time on record. 7-3m GEO. P. FLANNERY. ARCHBISHOP BAILEY, Restaurant TAKE the Roman Catholic primate of America, Front Street, Opp. R. R. Depot. died at Newark, N. J., yesterday. Mme. The Custer Route TO THE Teresa Tiltiens died at London yesterThe Oldest and only First Class day. BLACK HILLS. Restaurant in Bismarck. THE WAR. Thro' Express Trains Give me a call and I will Guarantee Another attack on Plevna is expected FROM Satisfaction about Sunday. THE RUSSIANS ST. PAUL. to BISMARCK, J. P. Forster. DAILY. have pushed their parallels close to the 1877. 1877. "OLD RELIABLE" Making close connections at ST. PAUL with Turkish works. Gen. Melakoff attacked trains from CHICAGOand all points south. Muktar Pasha near-Karson Wednesday No Delay I Continuous Run ! and gained a decided advantage. Their Coulson Line fight continued yesterday Northern Pacific R. R. LATER DISCOVERIES Missouri River Transportation Co. show Gilman's forgeries amounted to 1871, 1817. Summer Arrangement. S. B. COULSON, Genl. Manager. WESTWARD. STATIONS. EASTWARB. $352,000 on which he realized $247,940. D. w. HARATTA, Supt. Duluth, Iv. 12.80 p. m. ar. 12.10 p. m. His forgeries were confined to the scrips Iv. 10.30 N.P. Junction, ar. 9.15 p.m. of the Atlantic Mutual Insurance Co., ar. 10.20 m. lv. 3.00 p.m. N. P. Junction, Iv. +6.20 ar +7.45 p. m. BRAINERD, and the stock of the American Exchange ar. 6.05 BRAINERD Iv. 8.15 p. m. Iv. 9.85 a.m. lv. 11.11 p.m. WADENA, and Metropolitan banks. The American ar. +6.00 m. Iv. 8.00 Fargo, Exchange Bank loses $85,000; the ComIv. 7 00 m. ar. 16.30 p. m. Fargo, ar. +12.25 m. Iv. 1.40 p. m. Jameslowa, mercial Insurance Co. $70,000; private Iv. 1,10 p m. ar. 11.10 p. m. Jamestown, Iv. 7.00 a. m. PLYING BETWEEN ar. 7.00 p. m. Biemarck, parties, so far as known. $18,000; Tal+Meals. madge & Co. $14,000. Close connection with Lake steamers at DuBISMARCK luth; St. Paul trains at N. P. Junction: St. Paul FOUR WELLKNOWN OUTLAWS, & Pacific Railroad trains at Glyndon for Fisher's AND who go by the names of Dunk BlackFort Garry and the British Possessions, via steamers of Red River Transportation Co.: at Moorehead, burn, Wall Laugin, Sam and Kid, stopMinn., and Fargo, D. T.. with steamers for Fort FT. BENTON, Garry, Pembins, and all points on the Red River, ped the Sidney coach going north at Bufat Bism arck with steamers to all points north and falo Gap. They secured only seven dolCOMPRISING south on the Missouri River: including Standing Rock, Fort Rice, Berthold, Carroll, Helena, Benlars and revolvers. son. and other points la Montans; also with N. W. GOLD. Eleven First Class Passenger Stage and Express Co.'s line to Deadwood, City and all points in the Black Hills. Eight hundred and fifty thousand dollars Dated May 16th. 1877. Steamers, H. A. TOWNE, G. G. SANBORN, in gold bars was drawn from the Bank of Gen'l Business Ag't Superintendent Built expressly for the trade, at Fort England yesterday for shipment to New Benton with Coaches for all parts of York. C. & N. W TWENTY LODGES MONTANA, LINES left Spotted Tail for the north on Wedand the Great Diamond R. Freight Trains. The The Chicago And Northwestern Boate of this line will Leave nesday night and it is believed for every Railway embraces under one management the Great Trunk Railway Lines of the North and North-west, lodge coming in six goes out. and with its numerous branches and connect io BISMARCK ST. PAUL, Oct. 5. forms th shorteas and quickest route between Chi cago and all points in Illinois, Wisconsin Northern A HEAVY RAIN STORM, The Large and EleRegularly during th Season Michigan, Minnesota, Iowa, Nebraska, California and the Western Territories. Its gant Passenger Steamer yesterday greatly damaged the 9th and Omaha and California Line G street wing of the Patent office at ROSE BUD is the shortest and best route between Chicago and Washington. The water flowed in EO all points in Northern Illinois, Iowa, Dakota, Nebrasks, Wyoming, Colorado, Utah, Nevada, CaliLeaves Bismarck for Fort [Buford and Intermerapidly that it was necessary to cut fornia, Oregon, China, Japan and Australia. Its late Points Tuesday October 9. through the wall to let it escape. It is teleor letter For Freight or Passage apply by Chicago, St. Paul & Minneapolis line graph to feared the damage by this flood to the Is the shortest line between Chicago and all points D. W. MARATTA, Supt., records may be greater than was the late in Northern Wisconsin and Minnesota, and for Bismarck D.T. Madison, St. Paul, Minneapolis, Duluth, and all fire. The same storm occasioned great points in the Great Northwest. damage to the railroads between WashFt. Benton Transportation Company, Pullman Palace Drawing-Room T. C. POWER. Pres't. Cars are run on all through trains of this road. ington and New York and caused some Chicago Office, 83 Market St. This is the ONLY LINE running these cars beaccidents. tween Chicago and St. Paul and Minneapolis. G. A. BAKER, Sec'y. Close connections are made at Chicago with the St. Louis Office, 219 Olive St. Correspondents contradic the Porter's Lake Shore & Michigan Southern Michigan Central claim of overwhelming Baltimore & Ohio, Pittsburg, Ft. Wayne & Chicago, The New, fast and commodious Passenger Kankakee Line and Pan Handle Routes, for all VICTORY Steamer, points East and South-east, and with the Chicago and Alton and Illinois Central for all points South. in Asia Minor on Wednesday. The batRemember, you ask for your tickets via the Chitle was drawn; the losses were light on cago & Northwestern Railway, and take none other. For ratesor information not attainable from your either side. home ticket agents. apply to W. H. STENNETT. MARVIN HUGHITT, AT CENTRAL CITY, Mang's Chic

9. October 5, 1877 The Wheeling Daily Register Wheeling, WV

Article from The Wheeling Daily Register, October 5, 1877

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THE FAILURE OF THE ALLEGHENY SAVINGS BANK. As the failure of this bank naturally causes much discussion among all classes of people, we give a short history of the bank and its struggles, as detailed by Mr. GRAHAM, its president: The bank was established in 1842, and for a long time was the only one in Allegheny. Its first president was Henry Irwin, but for sixteen years Hon. J. L. Graham has been the head of the institution. "I have been the figurehead for several years," said Mr. Graham, "until I deserted politics. I considered the bank as solid as the rock of Gibralter, but when I left the political field and returned from the Senate a few years ago I made an examination of the assets of the bank and found considerable paper which 1 did not look upon as gilt edged. I at once set abou. securing the debts which this paper represented, and by hard work and persistent effort accomplished much good. In some instances more money had to be advanced to get mortgages as security for previous loans, but it was thought good policy to secure the debt by increasing it a little than to incur the risk of losing all. The first run on the bank, about a year ago, was occasioned in this way. It became necessary to fore. close 8 mortgage for $64,000 on the property of Mr. Andrew Ackley in the Second ward. In noticing the foreclosure the Legal Journal, instead of publishing the amount of the mortgage, published the penalty, which W88 twice the amount of the mortgage, or $128,000. The same day, by a singular coincidence, Mr. Hen. derson Davis filed a petition in bankruptcy, which showed his indebtedness to the Allegheny Savings Bank to the extent of $46,000. These items were published, and created a panic among the railroad men "at the outer depot. Thoy read that one man owed the bank $128,000 and another $46,000, and concluded that something was wrong. The result was a run on the bank, but all the demands were promptly met. In a few days confidence was restored, and many of the depositors returned with the same packages they had taken out." THE SHRINKAGE OF DEPOSITS. "Well, then," continued Mr. Graham, "about a year ago, when the first run was made on the bank, our deposits amounted to $1,312,000. They have undergone a steady reduction since that time, and now do not exceed $591,000. You can see by this statement what a hard struggle must have been made in these hard times to raise money to pay about $700,000 to depositors. Of this $591,000 about $100,000 belongs to directors and stock. holders, and therefore nothing will have to be raised to pay that amount. Furthermore, the bank owes about $128,000 for money borrowed on mortgages, and on secured debts to other banks. The assets of the bank will aggregate $748,000, and between $300,000 and $400,000 of this sum is in real estate and mortgages." "Could you meet your liabilities if obliged to realize at once on your real estate and mortgages?" asked the writer. tell you trankly," said Mr. Graham, "we could not. Even if it were desirable to do so we could not sell our real estate now. There is no market for it. Nobody wants to invest in real estate. It is a drug. As you of course know, it has vastly depreciated in value within the last few years, and that held by us was no exception to the rule. As I stated before, it will require some time to realize even the approximate value of this property, and therefore the settlement of the affairs of the bank and the payment of depositors will be considerably prolonged. And permit me to state just here that with one exception not a director of the bank owes it a dollar. The exception is for 8 small amount, which is amply secured." CONSIDERING THE SITUATION.

10. October 10, 1877 Mineral Point Tribune Mineral Point, WI

Article from Mineral Point Tribune, October 10, 1877

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THE Allegheny savings bank, the oldest bank in Allegheny City, Pa., suspended payment on the 3d instant. Its deposits one year ago, aggregated $1,313,000, but owing to a run that was made then the amount gradually fell off until the day of suspension, at which time there was probably not more than $500,000. The stockholders announce it as their belief that depositors will receive the full amount owed them. It will be well to hope so, but promises of that kind are more easily made than debts are cancelled.

11. October 11, 1877 The Elk County Advocate Ridgway, PA

Article from The Elk County Advocate, October 11, 1877

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Failure of Another Savings Bank. Pittsburg, October 3.-The Alle. gheny Savings Bank, the oldest bank in Allegheny City, suspended payment this morning. The following notice was posted on the doors: The directors of the Allegheny Savings Bank, being unable to convert its assets into money immediately, have deemed it proper to suspend payment. In addition to the assets of the bank the stockholders are individually liable, and the directors hope to pay all the depositors. A bout this time last year a run W as made on the bank, but the officers met all the demands SO promptly that the run soon ceased. It is ascertained that at the time of the run last year the deposits aggregated $1,312,000, but since that time they have been steadily reduced and do not now exceed $591,000. of which amount about $100,000 belong to the directors and stockholders. In addition to this, the bank owed secured debts to other banks and money borrowed on mortgages to the amount of $128,000. The assets, consisting largely of real estate, will aggregate $748,000.

12. October 18, 1877 The Stark County Democrat Canton, OH

Article from The Stark County Democrat, October 18, 1877

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LATE NEWS. Paris, Oct. 12.-Gambetta has been sentenced to three months' imprisonment and to pay a flue of $800, for placarding his recent address to electors in his arrondissement. The printer of the address has been sentenced to 15 days' imprisonment and to pay a fine of $400. Pottsville, Pa., Oct. 12-An explosion of firedamp occurred early this morning at Eagle HILL Colliery, operated by the Philadelphia and Reading Company, which resulted in the death of Jas Coyle, and the terrible burning of his nephew of thesame name, and slightly singeing another man named John Lore. Col. Henry R. Sibley, a well known and hitherto a highly respected citizen of Boston, was arrested on Tremont street on Saturday evening on a charge of forging indorsements to certain notes discounted at the Continental National Bunk. The Franklin Savings Bank of Allegheny. was broke on the 11th by the collapse of the Allegheny Savings Bank. Won't this almost daily closing of institutions where are deposited the little savings of industry, make the government take heed of its duty to the people ? Wade Hampton, Jr., is running for a seat in the Mississippi Assembly. He served on Gen. Joe Johnston's staff with distinction. The son of the Algerian patriot, the Emir Ab. el-Kader, has a great deal of literary taste, and is writing a life of his father, throughout the more stirring portion of his career. The coach from Deadwood to Cheyenne was stopped by road agents about two miles from Ft. Laramie one night last week, and four hundred dollars taken from the passengers. The Russian grain harvest is disappointingboth in quality and quantity. The wet weather in August and the searcity of laborers are assigned as causes of the short yield. The failure of Cross & Co., importers and general commission merchants, was announced in San Francisco. The parent house is at Glasgow, with a branch at Valparaiso and San Francisco, and extensive business connections in Europe, South America, Australia and China. Madison, O., Oct. 12.-The schooner Valentine toundered off Cleveland on Wednesday night, Oct. 10. The crew took to the boat, and, after 16 hours' hard labor, landed six miles below Fair. port. We were all well beat out, having had to work backing the boat all the way ashore. The crew saved only what they wore. San Francisco, Oct.11.-A San Diego dispatch says A dispatch from Mesilla, N. M., says: Judge Howard killed Louis Cardis at Elpaso, Texas, yesterday evening. Cardis was leader of the mob that arrested the county officers of Elpaso county. Great excitement prevails.

13. October 26, 1877 The Jasper Weekly Courier Jasper, IN

Article from The Jasper Weekly Courier, October 26, 1877

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EAST AND SOUTHEAST. A mass-meeting was held at Cooper Institute, New York City, on the evening of the 10th, to endorse the administration of President Hayes. The hall was filled to its greatest capacity. Prof. Theo. W. Dwight, of Columbia College, presided, and Mr. Geo. W. Curtis was the leading speaker. He concluded as follows: " President Hayes stands on a platform of justice, union, national fraternity, a gold currency and civil service reform-and we stand by him. It is a platform of one plank, wide as a continent, deep as the beating of the American heart, and it bears the legend, He serves his party best who serves his country well." The Franklin Savings Bank of Allegheny, Pa., suspended on the 10th, with liabilities amounting to about $200,000. The Directors say that the assets are largely in excess of this amount, but can net be realized upon immediately. Since the failure of the Allegheny Savings Bank, which occurred a short time ago, there has been a continuous run upon the Franklin, and all itsavailable resources were exhausted. It was thought that the panic had become so general that all the savings institutions would be forced into liquidation. The remains of Gen. Custer were buried with military honors at West Point on the 10th. Allen C. Laros,the young man who poisoned his father, mother and uncle near Easton, Pa., last year, and who was sentenced to be hanged on the 10th, has been pronounced insane by a medical commission and removed to an asylum. The Georgia Republican State Committee, by a vote of 10 to 2, decided to disband their organization. Niles G. Parker, ex-State Treasurer of South Carolina, was arrested in Jersey City, on the 12th, and lodged in the County Jail, on a requisition from Gov. Hampton, of South Carolina, charging him with plundering the State. He says he is willing to turn State's evidence. He has resided in Jersey City two years. William C. Gilman, the aristocratic New York forger, has pleaded guilty and been sentenced to five years at hard labor in the State-prison. The entire business part of Janesville, Onondaga County, N. Y., was burned by an incendiary fire on the morning of the 14th. Loss about $60,000; insurance, $18,000. State Senator Nash of South Carolita has resigned, made a confession to the Investigating Committee implicating others in Legislative frauds, and has also made restitation. Dr. Hernda, a volunteer physician from Savannah, died of yellow fever at Fernandina, Fla., on the 16th. One other death was reported on the same day.