18539. Peoples Bank (California, PA)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
November 12, 1907
Location
California, Pennsylvania (40.067, -79.912)

Metadata

Model
gpt-5-mini
Short Digest
0cdeed0a

Response Measures

None

Description

People's Bank of California, Pa. closed by the state examiner in mid-November 1907 amid discovered shortages and alleged cashier fraud. A receiver (J. C. McClain) later reported many irregularities. Directors and backers made up the shortage and the bank reopened Feb 13, 1908 under a new cashier. OCR variants of cashier's name (Oliver P. Piper / O. F. Piper) appear in sources; I standardize as O. F. / Oliver P. Piper where quoted. Reported shortage amounts vary across articles ($65k, $70k, $83k, $100k); I do not invent a single figure beyond quoting where relevant in snippets/cause_details.

Events (4)

1. November 12, 1907 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed by state examiner after discovery of large shortage/irregularities and alleged defalcations by the cashier (Oliver/O. F. Piper); arrests for conspiracy to defraud followed. Reported shortages in contemporary accounts range from $65,000 to over $100,000.
Newspaper Excerpt
Immediately following the closing of the People's Bank of California, Penn., near here, to-day, by Willets Binns, State Bank Examiner
Source
newspapers
2. February 5, 1908 Receivership
Newspaper Excerpt
J. C. McClain, receiver of the People's bank of California, Pa., which closed recently, stated that 2,000 irregularities have been found in the books of that institution. The shortage is said to reach $70,000. (Feb. 5, 1908 wires/articles.)
Source
newspapers
3. February 6, 1908 Other
Newspaper Excerpt
ARRESTS IN BANK SUSPENSION. Cashier of California (Penn.) Institution ... Oliver P. Piper, the cashier, and William L. Lenhart ... were arrested, charged with conspiracy to defraud the bank. ... unofficially placed at $65,000. (Pittsburg, Nov. 12 article dated 1907-11-13).
Source
newspapers
4. February 13, 1908 Reopening
Newspaper Excerpt
The People's Bank at California, Penn., which has been in the hands of a receiver for two months reopened for business today. ... The People's Bank here after being in charge of a temporary receiver for two months is again open. ... The directors and stockholders made this good.
Source
newspapers

Newspaper Articles (22)

Article from The White Pine News, November 13, 1907

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FAILURES OF BANKS ONE IMPORTANT CONCERN 12. WASHINGTON, Nov. The treasury department today received notice of the followMering bank suspensions: Portland, chants' National, Oregon: Ravenswood Exchange The Peo bank, Chicago, Ill.: ple's bank, California, Pa. With exception of the Portland bank the failures are not important. The Portland institution is one of the largest in the northwest. Officials of the bank are stated to have communicated to Secretary Cortelyou that their concern is solvent and that with assistance from the treasury department they will be able to resume business without loss to their depositors.


Article from New-York Tribune, November 13, 1907

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ARRESTS IN BANK SUSPENSION. Cashier of California (Penn.) Institution and Business Man Involved. Pittsburg. Nov. 12.-Immediately following the closing of the People's Bank of California, Penn., near here, to-day. by Willets Binns, State Bank Examiner, Oliver P. Piper, the cashier, and William L. Lenhart, a Pittsburg business man. who lives in Brownsville, Penn., were arrested, charged with conspiracy to defraud the bank. Both were held under heavy bond. Piper's bondsmen paid over to the bank $20.000 toward the alleged shortage, which is unofficially placed at $65,000. The bank, a state institution, was organized in 1899 with a capital of $75,000 and has a surplus of $38,000. Lenhart is a member of an advertising firm in this city and of the firm of Chatland & Lenhart. makers of the Brownsville water cracker. at Brownsville, Penn. The cracker company. it is said. will close to-morrow to protect its outstanding paper, but expects to resume as soon as danger of unusual demands upon its resources is over. Other bankers say no other institution is affected and that the trouble is entirely due to bad business methods. The cashier is accused of making bad loans and of losses in stock dealing.


Article from The Marion Daily Mirror, November 14, 1907

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Article Text

SHORT PARAGRAPHS. Mrs. Carrie Nation has been made a life member of the Woman's Christian Temperance union. Large reductions in working forces in many industries in Chicago have been made within the last few days, owing to searcity of orders and business depression. Oliver P. Piper, cashier of the People's Bank of California, Pa., who was charged with conspiracy to defraud the bank following the suspension of the institution, has not succeeded in securing bail. It is said the deficit in the bank is over $100,000. Bishop Charles D. Williams, of the Protestant Episcopal diocese of Michigan, in his annual address to the diocesan convention in Detroit criticised Episcopalians in his diocese for lack of public spirit and small contributions to the church's diocesan work.


Article from Evening Star, November 17, 1907

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Article Text

Oliver P. Piper, cashier of the People's Bakn of California, Pa., near Pittsburg, who was charged with conspiracy to defraud the bank following the suspension of the institution has not yet succeeded in securing bail. It is now said the deficit in the bank is over $100,000.


Article from Wausau Pilot, November 19, 1907

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Financial Institutions Suspend. The developments Tuesday in the financial crisis were as follows: The Merchants' National bank of Portland, Ore., with deposits of $5,212,052, closes its doors; California bank at Oakland, Cal., suspends payment; Farmers and Merchants' bank of Sapulpa, Ind. T., is foreed to suspend; People's bank of California, Pa., closes its doors; Ravenswood bank, a small Chicago institution, goes into the hands of a receiver.


Article from Willmar Tribune, November 20, 1907

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They declared that the suggestions made from several western sources that they were not meeting legitimate demands for currency from the west were entirely unfounded and that they were, on the contrary, taking every practicable measure to aid the west and south. The first direct reports from the scene of the great earthquake at Karatagh, Russian Turkestan,say the victims number about 14,000; the city and many villages were destroyed. The Peoples bank of Portsmouth, Va., went into the hands of a receiver on petition of the directors, who gave out a statement that the bank has been made insolvent through defalcations of the cashier. Photographs and official data Γepresenting a summer's work of the international boundary commission in Alaska were lost when a canoe capsized in the Bradfield river. It was proposed in the Michigan state constitutional convention to insert an article making voting obligatory, with a fine and prison sentence as penalties. State Senator Haines' bank of Forest Grove, Ore., did not open its doors for business because it could not obtain its balances from the Merchants National Bank of Portland, which suspended payment. The total equalized assessment of personal property, lands, and lots in Illinois for the year 1907 aggregates $1,138,622,398, according to reports by committees of the state board of equalization. Checks and currency to the amount of $22,000, intended to pay the wages of the Carbon Coal & Coke company's miners at Cokedale, Col., were lost or stolen while in transit in a stage. Former Gov. James E. Campbell, of Ohio, said that he is a receptive candidate for United States senator to succeed Senator J. B. Foraker. At Kansas City, Mo., the grand jury returned 149 additional indictments against persons charged with violating the state law which forbids labor Supury. uo A boiler at the ginhouse on the Trulock plantation, near Pine Bluff, Ark., exploded killing the owner, J. B. Trulock, and five negroes. The confession of Steve Adams, made in the office of the warden of the Idaho state penitentiary February 27, 1906, was introduced in evidence at the trial of Adams for the murder of Fred Tyler. It told of the murder of Tyler and Boule and involved Moyer, Haywood and Pettibone. The engine and tender of a Baltimore & Ohio train to which was attached a private car bearing Vice President Fairbanks and a party returning from the funeral of Judge McComas was derailed at Weverton Junction, Md. Immediately following the closing of the Peoples bank of California, Pa., by State Examiner Bynns, Oliver P. Piper, the cashier, and William L. Lenhart, a business man who lives in Brownsville, Pa., were arrested, charged with conspiracy to defraud the bank. A report reached Durango, Col., that a battle occurred at McElmo canyon, between Ute Indians and United States troops, in which six Indians were killed. No soldiers were killed "pepunom JO A boiler in the basement of the new Eastman dormitory at East Greenwich (R. I.) academy exploded and partly wrecked the structure. Three young women students were severely but not seriously injured. In the historic hall of St. George at Windsor Castle, King Edward and Queen Alexandra gave a state banquet in honor of the emperor and empress of Germany and their suite. A state convention of Democrats at Nashville, Tenn., started a movement for the nomination of a southern man as Democratic candidate for the presidency in 1908. Ray Bricker fell 115 feet down a mine near Boone, Ia., landed on his feet and was unhurt. Asserting that the cold weather has caused untold suffering on account of the scarcity of coal, the residents of Somerset, Neb., appealed to the state railway commission for relief. Charles Howard, 60 years old, a convict in the Joliet penitentiary, made his escape while working in the stone quarry. Six persons were injured when the 18-hour train from Chicago to New York on the Pennsylvania railroad ran into a stationary freight train in the yards at Larimer, near Greensburg, Pa. All work of all kinds on the Burlington railroad was stopped for five minutes while the body of its former president, C. E. Perkins, was being lowered into the grave. The peace proposition of General Manager Orr for the settlement of the railway strike in Havana, Cuba, was rejected at a meeting of the strikers. A terrific earthquake occurred at Unalaska and McCullough peak, which was created by an earthquake nearly a year ago, and extended over 3,400 feet above the sea, has dwindled to almost nothing as a result of submarine disturbances. As the result of a quarrel over an election bet, William Hopkins and


Article from Wood County Reporter, November 21, 1907

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Article Text

Financial Institutions Suspend. The developments Tuesday in the financial crisis were as follows: The Merchants' National bank of Portland, Ore., with deposits of $5,212,052, closes its doors; California bank at Oakland, Cal., suspends payment; Farmers and Merchants' bank of Sapulpa, Ind. T., is forced to suspend; People's bank of California, Pa., closes its doors; Ravenswood bank, a small Chicago institution, goes into the hands of a receiver.


Article from The Laramie Republican, February 5, 1908

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Facilitates Investigation. The action, as explained officially, is to facilitate the investigation now being made of the government printing office by congress. Rossiter now is a chief clerk in the census bureau. Big Shortage Reported. Washington, Pa., Feb. 5.-J. C. McClain, receiver of the People's bank of California, Pa., which closed recently, stated that 2,000 irregularities have been found in the books of that institution. The shortage is said to reach $70,000. Indictments will likely follow.


Article from The Montgomery Advertiser, February 6, 1908

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Irregularities Found. Washington, Pa., Feb. 5.-J. C. McClain, receiver of the People's Bank of California, Pa., which closed recently, stated today, it is said, that 2,000 Irregularities had been found in the books of that institution, dating back to November, 1906. The shortage, it is said, will reach $70,000.


Article from The Marion Daily Mirror, February 6, 1908

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Found 2,000 Irregularities in Books. Washington, Pa., Feb. 6.-J. C. Mc Clain, receiver of the People's bank of California, Pa., which closed re cently, stated Wednesday that 2,000 irregularities had been found in the books of that institution. The short age will reach $70,000. Indictments will be presented to the grand jury this week.


Article from The Washington Herald, February 6, 1908

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PARAGRAPHS BY WIRE. Pittsburg, Feb. 5.-Ice gorges on the Monongahela River near Charleroix threaten to destroy six steamships. Nyack, N. Y., Feb. 5.-Mrs. Claudine Abry is dead from heart trouble, brought on by witnessing the drowning of three boys. Tokyo, Feb. 5.-The appointment of Viscount Sinzo Aoki, former Ambassador to Washington, as privy councillor will be officially announced to-morrow. Chicago, Feb. 5.-Rev. Amzi C. Dixon, of the Moody church, in a sermon here likened President Roosevelt to the Prophet Isaiah and to John the Baptist. Washington, Pa., Feb. 5.-J. C. McClain, receiver for the People's Bank at California, Pa., says there were 2,000 iregularities found on the books. The shortage is $70,000. New York, Feb. 5.-Mrs. C. H. Tower, principal of a public school building, declares that poverty among her 900 students is so common that they frequently faint from hunger. Harrison, N. J., Feb. 5.-The People's Building and Loan Association has received a check for $810, representing money falsely obtained on a stock transaction by a stranger a year ago. Pittsburg, Feb.5. -According to an average established by ,investigations by the Pittsburg. survey, typhoid fever cost Greater Pittsburg the enormous sum of $721,430 for the year ended June, 1907. New York, Feb. 5.-Harry Buckalew, freed from a bigamy charge by statute limitations, tried to induce either of his wives to again marry him under pretense he had inherited $14,000. Both declined the proposal. Middletown, N. Y., Feb. 5.-The big switchboard in the central telephone office of the Orange County Telephone Company here was destroyed by fire to-day. and the city has no telephone service. The long-distance service also is paralyzed. Milwaukee, Wis., Feb. 5.-The First Church of Christian Science, which was nearing completion here, was burned this morning. The loss is estimated at $100,000. The church was to have been completed within a few weeks. It was insured for $60,000. San Francisco, Feb. 5.-With the discharge yesterday of last patient under treatment at the Isolation Hospital, San Francisco was officially declared to be free of bubonic plague. A block-toblock war of extermination against rats will now be conducted. Cedar Rapids, Feb. 5.-Robert J. Cousins, now serving his eighth term in Congress from the Fifth Iowa district, announces that he will not again be a candidate. "My reason for withdrawing," he writes, "is that having given the best part of my life to the public service, I must now do something for myself." Lima, Peru, Feb. 5.-The dock laborers at Callao are again on strike. Violent speeches have been made at the docks, and trouble is greatly feared. The English steamship companies have asked the government to guarantee protection and the police have been reinforced. Steamship movement for the present is paralyzed.


Article from Albuquerque Citizen, February 6, 1908

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FEE'S HOME MADE CANDIES. WALTON'S DRUG STORE. O FINDS IRREGULARITIES Washington, Pa., Feb. 6.-J. C.MeClain, receiver of the People's bank, of California, Pa., which closed recently, states that 2,000 irregularities have been found in the books of the institution. The shortage is said to amount to $50.000 and several indictments are likely to follow the receiver's examination.


Article from The Salt Lake Herald, February 6, 1908

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SHORTAGE OF $70,000. Washington, Pa., Feb. 5.-J. C. McClain, receiver of the People's bank of California, Pa., which closed recently, stated today that 2,000 irregularities had been found in the books of that institution, dating back to November, 1906. The shortage, it is said, will reach $70,000. Indictments are likely to follow.


Article from The Miller Press, February 13, 1908

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Domestic. The trustees of Hanover college, at Madison, Ind., elected Prof. W. A. Millis president of the institution. J. C. McClaim, receiver of the People's Bank of California, Pa., says that 2,000 irregularities have been found in the books of that institution. The shortage will reach $70,000. According to an average established by investigation undertaken by the Pittsburg survey, typhoid fever cost Greater Pittsburg the sum of $721,436 for the year ending June, 1907. A bed for the sole use of persons injured in automobile accidents is to be endowed in the new Garetson hospital at Philadelphia by members of the Quaker City Ladies' Motor club. The city council of Stockton, Cal., has passed an ordinance closing the saloons on Sunday and compelling the restaurant and drug stores to refrain from selling liquor on that day. Instruction in the science of physical culture will form a part of the work of the summer school at the University of Utah this year. The students will be qualified to teach physical culture. The trustees of Columbia university have appointed Prof. R. C. MacRae to the chair of humanity, a new depart. ment, established under an endowment of $100,000 made to the university for that purpose. Coal shipments from the Pittsburg district to the Great Lakes will begin in March this year, one month earlier than in former years, in order to prevent congestion at the lake ports and to eliminate higher charges as the season advances. The program for the twelfth triennial convention of the International Sunday School association, to be held in Louisville, Ky., July 18 to 22, has been tentatively completed. There will be nearly 2,500 delegates entitled to seats in the convention. The increasing number of drowning accidents each summer has induced the faculty of Columbia university to institute a course of lifesaving. The lessons will be given in the big tank in the university gymnasium onco a week by the swimming instructor, and the course will count each student two credits toward his degree.


Article from The Wahpeton Times, February 13, 1908

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Domestic. The trustees of Hanover college, at Madison, Ind., elected Prof. W. A. Millis president of the institution. J. C. McClaim, receiver of the People's Bank of California, Pa., says that 2,000 irregularities have been found in the books of that institution. The shortage will reach $70,000. According to an average established by investigation undertaken by the Pittsburg survey, typhoid fever cost Greater Pittsburg the sum of $721,436 for the year ending June, 1907. A bed for the sole use of persons injured in automobile accidents is to be endowed in the new Garetson hospital at Philadelphia by members of the Quaker City Ladies' Motor club. The city council of Stockton, Cal., has passed an ordinance closing the saloons on Sunday and compelling the restaurant and drug stores to refrain from selling liquor on that day. Instruction in the science of physical culture will form a part of the work of the summer school at the University of Utah this year. The students will be qualified to teach physical culture. The trustees of Columbia university have appointed Prof. R. C. MacRae to the chair of humanity, a new department, established under an endowment of $100,000 made to the university for that purpose. Coal shipments from the Pittsburg district to the Great Lakes will begin in March this year, one month earlier than in former years, in order to prevent congestion at the lake ports and to eliminate higher charges as the season advances. The program for the twelfth triennial convention of the International Sunday School association, to be held in Louisville, Ky., July 18 to 22, has been tentatively completed. There will be nearly 2,500 delegates entitled to seats in the convention. The increasing number of drowning accidents each summer has induced the faculty of Columbia university to institute a course of lifesaving. The lessons will be given in the big tank in the university gymnasium once a week by the swimming instructor, and the course will count each student two credits toward his degree.


Article from Golden Valley Chronicle, February 13, 1908

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Domestic. The trustees of Hanover college, at Madison, Ind., elected Prof. W. A. Millis president of the institution. J. C. McClaim, receiver of the People's Bank of California, Pa., says that 2,000 irregularities have been found in the books of that institution. The shortage will reach $70,000. According to an average established by investigation undertaken by the Pittsburg survey, typhoid fever cost Greater Pittsburg the sum of $721,436 for the yearzending June, 1907. A bed for the sole use of persons injured in automobile accidents is to be endowed in the new Garetson hospital at Philadelphia by members of the Quaker City Ladies' Motor club. The city council of Stockton, Cal., has passed an ordinance closing the saloons on Sunday and compelling the restaurant and drug stores to refrain from selling liquor on that day. Instruction in the science of physical culture will form a part of the work of the summer school at the University of Utah this year. The students will be qualified to teach physical culture. The trustees of Columbia university have appointed Prof. R. C. MacRae to the chair of humanity, a new department, established under an endowment of $100,000 made to the university for that purpose. Coal shipments from the Pittsburg district to the Great Lakes will begin in March this year, one month earlier than in former years, in order to prevent congestion at the lake ports and to eliminate higher charges as the season advances. The program for the twelfth trien. nial convention of the International Sunday School association, to be held in Louisville, Ky., July 18 to 22, has been tentatively completed. There will be nearly 2,500 delegates entitled to seats in the convention. The increasing number of drowning accidents each summer has induced the faculty of Columbia university to institute a course of lifesaving.' The lessons will be given in the big tank in the university gymnasium once a week by the swimming instructor, and the course will count each student two credits toward his degree. President Nicholas Murray Butler of Columbia university has accepted the invitation of the University of Copenhagen to deliver three lectures there next September. He will leave for Denmark in August. The subject matter of his lectures will be "Some Aspects of American Civilization." The Louisville & Nashville railroad, on account of decreased earnings, has reduced the salaries of all employes making more than $250 a month. Those receiving $400 and over are cut 10 per cent, while those making more than $250 and less than $400 suffer a reduction of 8 per cent.


Article from The Mena Weekly Star, February 13, 1908

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Pennsylvania Bankers Indicted. Washington, Pa., Feb. 8.-The grand jury which has been investigating alleged irrigularities in the affairs O1 the People's bank of California, Pa., recently suspended, Friday returne/ seven indictments. One of the indictments against O. F. Piper, formes cashier, contains 199 counts.


Article from New-York Tribune, February 14, 1908

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-The eleven laundries under 1 Cincinnati, .ng a combination to raise indictment to-day and each was fined prices plead ust also agreed to dissolve $50 and costs against the laundry proprieand the indi tors were nolied The indictments were returned more than a year ago. Pittsburg, Feb. 13.-The Standard Oil Company announced an advance of 5 cents in three grades of oil to-day as follows: North Lima, 99: South Lima. 94. and Indiana, 94. Pennsylvania remains unchanged. Cincinnati, Feb. 13.-Following the appointment of a receiver for the Laning Printing Company at Norwalk yesterday, Howard Barney was appointed receiver for the Robert Clarke Company here to-day on application of J. F. Laning, the principal stockholder. The Robert Clarke Company was in the courts a few years ago and then obecame the property of the Laning company. but retained its name. The assets are said to be $130.000 and liabilities $45,000. Norfolk, Va., Feb. 3.-The Woodstock Iron Works of Norfolk. incorporated in Virginia for the conduct of a general foundry business, was organized here to-day with a capital of $500,000. The company will operate in Anniston, Ala. as an auxiliary to the present Woodstock foundries and iron works J. N. Barr. former irresident of the Seabcard Air Line Railway, is president. San Francisco. Feb. 13.-The report of the fire insurance business for 1907 on the Pacific Coast shows the total amount of the policies written to be $1,233,229,613 on which premiums to the amount of $25,963,447 were paid. The losses for the year amount to $6,682,652 or 25.7 per cent of the premiums. In California considered separately the rate of loss was less, being 20.9 per cent. Seattle Feb. 13.-At a conference between atarneys for the Great Northern and Northern PaciEc railreads. Northwest lumbermen and the business interests yesterday a tentative compromise of the rate question was reached by the railroads offering to haul lumber at the old rates, leaving it optional with the carriers whether or not the shippers shall be required to put up bonds to guarantee the payment of the new rate in case the railroads get a favorable decision from the Interstate Commerce Commission. Chardon. Ohio, Feb. 13.-The Circuit Court today set aside the conviction of R. N. Ford, recently found guilty of unlawfully using funds of the private bank of Ford Bros. at Burton, which failed a few years ago for over one million dollars. Pittsburg. Feb. 13.-Arguments in the equity suit brought by Thomas Rinaker, receiver of the defunct Enterprise National Bank, against former State Treasurer Frank G. Harris, of Pennsylvania, for the recovery of $20,000. were begun to-day in the United States District Court. Cincinnati, Feb. 13.-The threatened cut on railway wages was considered at an important conference of the various executive heads of the Brotherhood of Locomotive Engineers in this city this afternoon. This cut was recently announced on the Queen & Crescent system and is said to be impending on other unes. Chicago, Feb 13.-A warrant charging A. C. Tisdelle. a former banker of this city, with receiving deposits after his bank was insolvent was sworn out to-day by Henry W. Lackey, an attorney. Tisdelle conducted a private bank which closed its doors on Jan. 22. Pittsburg, Feb. 13.-The People's Bank at Cali fornia, Penn., which has been in the hands of a receiver for two months reopened for business today. When the bank closed there was e shortage of $83,000. The directors and stockholders made this good. Keene, N. H., Feb. 13.-The chair factory of Dunn & Salisbury. which has been running on a reduced schedule for some time, resumed operations in full to-day. Northampton Mass. Feb. 13.-The Mount Tom mill. operated by the Connecticut Valley Lumber Company, shut down to-day, on account, it is said. of a lack of orders. About a hundred and thirty-five hands are affected.


Article from The Pioneer Express, February 14, 1908

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Domestic. The trustees of Hanover college, at Madison, Ind., elected Prof. W. A. Millis president of the institution. J. C. McClaim, receiver of the People's Bank of California, Pa., says that 2,000 irregularities have been found in the books of that institution. The shortage will reach $70,000. According to an average established by investigation undertaken by the Pittsburg survey, typhoid fever cost Greater Pittsburg the sum of $721,436 for the year ending June, 1907. A bed for the sole use of persons injured in automobile accidents is to be endowed in the new Garetson hospital at Philadelphia by members of the Quaker City Ladies' Motor club. The city council of Stockton, Cal., has passed an ordinance closing the saloons on Sunday and compelling the restaurant and drug stores to refrain from selling liquor on that day. Instruction in the science of physical culture will form a part of the work of the summer school at the University of Utah this year. The students will be qualified to teach physical culture. The trustees of Columbia university have appointed Prof. R. C. MacRae to the chair of humanity, a new department, established under an endowment of $100,000 made to the university for that purpose. Coal shipments from the Pittsburg district to the Great Lakes will begin in March this year, one month earlier than in former years, in order to prevent congestion at the lake ports and to eliminate higher charges as the season advances. The program for the twelfth triennial convention of the International Sunday School association, to be held in Louisville, Ky., July 18 to 22, has been tentatively completed. There will be nearly 2,500 delegates entitled to seats in the convention. The increasing number of drowning accidents each summer has induced the faculty of Columbia university to institute a course of lifesaving. The lessons will be given in the big tank in the university gymnasium once a week by the swimming instructor, and the course will count each student two credits toward his degree.


Article from The Washington Herald, February 14, 1908

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STATE BANK REOPENS. New Cashier in Charge of Institution at California, Pa. California, Pa., Feb. 13.-The People's Bank of this town,- which has for the past two months been in the hands of a receiver, was opened again this morning in charge of a new cashier, O. F. Piper, the former cashier, who was accused of having taken most of the shortage of $83.000, not having yet been tried. The bank, which held much of the funds of the State Normal School, was backed by rich men who saw to it that the bank was reopened.


Article from The Fairmont West Virginian, February 14, 1908

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Banks Reopen DIRECTORS AND FRIENDS MADE GOOD SHORTAGE AND THE DOORS WERE OPENED. (By United Press.) CALIFORNIA, Pa, Feb. 13.-The People's Bank here after being in charge of a temporary receiver for two months is again open. The shut down followed an $83,000 shortage when charges were preferred against O. F. Piper, former. cashier, Max Avener and W. I. Lenhart. The trials are set for next Tuesday. The bank directors and friends made the shortage good and the insitution is now on a solid footing.


Article from The New South-News, February 15, 1908

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Big Bank Shortage. J. C. McClain, receiver of the People's Bank of California, Pa., which closed recently, stated, it is said, that 2,000 irregularities had been found in the books of that institution dating back to November, 1906. The shortage, it is said will reach $70,000.