18658. Erie County Savings Bank (Erie, PA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
May 19, 1884
Location
Erie, Pennsylvania (42.129, -80.085)

Metadata

Model
gpt-5-mini
Short Digest
5f041ee4

Response Measures

None

Description

The Erie County Savings Bank suspended in mid-May 1884 after its president (Adam Brabender) speculated with and misappropriated funds and fled; a receiver was appointed shortly afterward. Newspapers report runs on other local banks but not a run on this bank prior to suspension. Closure was permanent with receivership and criminal charges against the president.

Events (3)

1. May 19, 1884 Suspension
Cause
Bank Specific Adverse Info
Cause Details
President Adam Brabender had been speculating in oil and grain and allegedly misappropriated bank funds; time lock tampered with and funds missing; treasurer found shortage when opening safe; president fled/left city or disappeared initially and later returned and confessed losses/embezzlement of bank funds (~$100,000+).
Newspaper Excerpt
Dabbled in oil. ERIE, Pa., May 19.-The Erie County Savings Bank, this city, suspended this morning.
Source
newspapers
2. May 20, 1884 Other
Newspaper Excerpt
There was great excitement, and runs were begun on three other banks. No difficulty was experienced, however, in meeting all demands.
Source
newspapers
3. May 22, 1884 Receivership
Newspaper Excerpt
This morning Judge Galbraith appointed John C. Brady receiver of the bank.
Source
newspapers

Newspaper Articles (23)

Article from Daily Republican, May 20, 1884

Click image to open full size in new tab

Article Text

Bank and Business Suspensions. The Erie County Savings Bank of Erie, Penna., suspended on Monday morning. Its capital is $150,000, its liabilities about $360,000. Its President is said to have been speculating in oil. He has left Egie. The stockholders of the bank are wealthy. The Planters and Mechanics' Bank of Petersburg, Virginia, suspended on Monday morning. The Directors say the suspension is only temporary, and promise a satisfactory statement of the bank's condition. The City Exchange Bank of Laporte, Ind., made an assignment onSaturday. Liabilities, $36,000 ; assets, $21,000. Brennan & Co., bankers of Charlotteville, Virginia, closed their doors on Monday, announcing that they thought it would be best to suspend for a few days. It is believed their depositors are secure. Henry Stratton & Co., wholesale liquor dealers of Petersburg, Virginia, made au assignment on Monday afternoon. Liabilities, $33,000 assets, $25,000.


Article from Eureka Daily Sentinel, May 20, 1884

Click image to open full size in new tab

Article Text

lands was introduced to-day by Dolph. It provides for the immediate restoration to the public domain and to the operation of the public land laws of that portion of the grant lying coterminous with its main line between Wallulu Junction and Portland, a distance of 214 miles. It also provides for the forfeiture at the end of five years from the passage of the bill of all lands adjacent to that portion of the Cascade grant which shall then be unbuilt; in effect, giving the road five years to build the Cascade branch. The bill proposes to authorize persons in possession of any of these lands to purchase 320 acres, if 80 much has been improved by them. The railroad is requested to file its assent to the bill, so as to avoid all questions as to the title of the forfeited lands. Wool Growers' Convention. CHICAGO, May 19.-The National mass meeting of the Wool Growers' Convention of the United States was called to order at 10 o'clock this morning. One hundred and thirty-four delegates were present, 50 of whom are from Ohio; 38 from Pennsylvania. Twenty-one States and Territories are represented. J. S. Codding, of Kansas, was elected as temporary Chairman. A committe on permanent organization was appointed and a recess taken. Contempt of Chancery. NEW YORK, May 19.-The application to the Vice Chancellor for an order to require President Dodd to show cause why he shall not be punished for disobedience of the Court of Chancery in removing the bank's assets out of the State is said to be over, pending developments. The run on the other savings banks ceased to-day. W. B. Scott & Co., brokers, have suspended. Men on Wheels. WASHINGTON, May 19.-The fifth annual meeting of the League of American Wheelmen commenced its session this morning. Unusual interest attaches to the meeting on account of the reported intention of some unsatisfied ones to move to dissolve the League. It is stated that from 1,500 to 1,700 bicyclists will take part in the parade to-morrow. Run on Banks. PETERSBURG, Va., May 19.-In consequence of heavy runs on it, as well as on other banks, the Planters' and Mechanics' was temporarily suspended. A notice by the Board of Directors and the President says a satisfactory attempt will be made. The bank is believed to be able to pay every cent. Wall Street Death. UTICA, N. Y., May 19.-Alexander White, a creamery operator of Grand Rapids, Mich., shot himself at his mother's home at Sherbwin this morning. He lost $125,000 in Wall street last Fall, which, with other business reverses, caused the suicide. Shot by a Rival Medico. CRESFULA, Md., May 19.-At Tangier Island, Va., Saturday, Dr. Pitts called Dr. Waller, a rival physician, into his office and shot him dead. The people attempted to lynch Pitts, but were prevented. The murderer was jailed. Dabbling in Oil. ERIE, Pa., May 19.-The Erie County Savings Bank, this city, suspended this morning. Capital, $150,000; liabilities, $300,000. It is said the President has been dabbling in oil. He is said to have left the city. Substantial Sympathy. NEW YORK, May 19.-The sympathy extended to Donnell, Lawson & Simpson induced them to submit & proposition to their creditors which will result in their resuming in a few days. Failed for $20,000. NEW YORK, May 19.-M. Morton, a dealer in china, has failed for $20,000. Wall street is quiet. No statements of suspended firms to-day.


Article from The Daily Cairo Bulletin, May 21, 1884

Click image to open full size in new tab

Article Text

TELEGRAPHIC BREVITIES. A letter from Missoula, M. T., gives a gloomy picture of the situation at the Coeur d'Alene mines. A. Morton, a dealer in china and W. B. Scott & Co., brokers, were among yesterday's New York failures. Wm. Craid kicked Thomas Dawson's brains out at Coal Bluffs, Pa., in a street fight caused by an old feud. Mike Cleary knocked Sheriff out of time in one minute and five seconds in a glove contest in Philadelphia. The President of the Erie County Savings Bank, Erie, Pa., dabbled in oil stocks and the bank has burst. The Planters' and Mechanics Bank of Petersburg, Va., has temporarily suspended, but promises to resume. J. B. Moores, of Texarkana, killed a negro with whom he had a difficulty, and who first attempted to shoot him. There will be nearly 1,700 bicyclists in the parade of the League of American Wheelmen in Washington to-day. Fire in the Cincinnati Pipe and Sheet Company's works did $50,000 damage. Two persons were severely burned. Dr. Pitts, of Tangier Island, Va., called Dr. Walter, a rival physician, into his office and killed him on Saturday last. A boller explosion in Stout's mill, near Lewisburg, Ark., killed two men instantly and so injured others. that a third death is reported.


Article from Daily Los Angeles Herald, May 21, 1884

Click image to open full size in new tab

Article Text

LATE TELEGRAMS. (SPECIAL TO THE HERALD. Failure and Robbery of the Erie County Mayings Bank by Its President Great Excitement. ERIE, Pr., May 20 This city is in state of great excitement over the failure of the Erie County Savings Bank, with liabilities of 8360,000, nearly all owing to mechanics and poor people. One year ago the President, Adam Brabender, egan speculating, it s aid recently, on a break on oil, he lost $40,000. When the treasurer opened the safe this morning he found that the time lock had been tampered with and all the funds of the bank were gone. In place were the notes of Brabenders to the amount of only half the shortage. Brabender also receipted at the express office for a $10,000 package and fled. The stock holders of the bank claim that the depositors will lose nothing, but there it a great excitement, and runs were begun on three other banks No difficulty was experienced, however, in meeting all demands so far. Frelinghuysen on Chinese Restriction WASHINGTON, May 20 Secretary Frolinghuysen has sent a communication to the Senate Committee on Foreign Re. lations, as also to the House Committee on Foreign Affairs, in which he represeats that a great deal of trouble will be created if the Senate concurs in the House Chinese bill. Among other thing+ he says the passage of the bill by the Senate will be irritating to the Chinese Government and especially to the Chinese Embassy now here. Consideration of Bank Failures WASHINGTON, May 20 The Finance Committee of the Senate postponed for one week the consideration and investi gation of the causes of the failures in New York banks, in order to obtain furth is er information on the subject. It thought that Congressional mv stigation will not be ordered. Election of Editors by the Meth edint Conference PHILADELPHIA, May 20 The Meth odist Conference to-day announced Rev. Dr. J.M. Drickley elected editor of the Christian Advocate. Rev. Dr. Arthur Elwards, the present incumbent, was elected editor of the Northwestern Christian Advocate. Death of the Last of the Napoleon Guard DETROIT, May 20. -Wm. Palmer, an old veteran who attained a national repulation from being the only surviving soldier who guarded Nagoleon at the Island of St. Helena, died at home in Battle Creek, last night. Depositors of Newark Savings Bank Nafe. NEWARK, May 20. The officers of the Savings Institution expect a full pay ment from Fisk & Hatch. Depositors will then receive full payments. Rassell Nage Paying off as Usual. WALL STREET, N.Y., May 20 A report says: Russell Sage, who was laid It down on contracts, revived to-day is ascertained that Sage is paying off as usual Ward Goes Before the Grand Jury NEW YORK, May 20. Ferdinand Ward has been subponead to appear be fore the Grand Jury to-morrow. Disastrous Fire and LONN of Life. KINGSTON, Oat., May 20.-George Peters, a railway laborer, returned home He after a night speut is dissipation. picked up a lighted lamp and started to go stairs. When near the top the lamp fell from his hand and in an in stant the stairway was in a blaze. The flames spread rapidly, making escape for those asleep in the upper part matter of great (difficulty. Mrs. Peters, followed by her two daughters, rushed through the flames and managed to escape, as did also John Peters, a son, and two boarders. Maggie Peters, who had just escaped, discovered that her little sister was still in the burning building and made a des erate attempt to rescue her, but she was overcome by the smoke and was It taken out in an insensible condition is believed her injuries are fatal. Miss Biedger, an invalid, perished in the flames. It is supposed that Peters, who was the cause of the catasprophe, also perished in the flames, together with three boaders, who were so drunk that they did not become aware of their peril until too late. Vanderbill's Arrival in London and Receipt of the Panic News. LIVERPOOL, May 20. Vanderbilt landed this afternoon and proceeded to Loudon. He informed a newspaper representative that his information regard ing the New York panic was incomplete, therefore he was unprepared to comment upon it. He will only mature a plan He action after his arrival in London. could not say what he might have to do. He might possibly have to sell New York Central stock and buy other stocks Vanderbilt stated that his object in coming England was to witness the Derby at Epsom. The news he received may necessitate the alteration of his plans, in which case he may return to America at nearly day. English Capitalists Buy American stocks. LONDON, May 20. The Pall Mall Gazette says: English capitalists bought last week more American stocks than for twelve months past.


Article from The Daily Dispatch, May 22, 1884

Click image to open full size in new tab

Article Text

REGRETS. "No one regrets more than myself," Mr. Vanderbilt said, "the existence of these disturbances, inasmuch as so many innocent people must of necessity suffer. Every one has his own ideas of the causes of such calamities. I have given you my views. If they lead any one to reflect before action, I shall have been fully repaid for the expression of my thoughts. I hope all will go well, and though the storm has had a large sweep and carried much before it, I have not yet made up mv mind to abandon hope for the future. I feel sure that a sound recovery is not far ahead of us. It will surely come." The Broken Erie Bank. An Erie, Pa., telegram says: There is still much excitement here over the failure of the Erie County Savings Bank. This morning Judge Galbraith appointed John C. Brady receiver of the bank. President Brabender, who disappeared before the bank closed its doors, has not yet been heard from. His family say he has been speculating largely-operating in the Chicago Board of Trade-and that his losses foot up $100,000. It is also alleged that Pettit, the cashier, has been dealing heavily on margins. The statement that Brabender left town solely to avoid the worry of answering the questions of depositors IS not credited by the majority, but is implicitly believed by some. His actions in going around to inform his personal friends and members of his church as to the bank's condition and paying their checks after banking hours when the general public was excluded is condemned by all but the beneficiaries and their friends. An mcident of the failure was the ruthless invasion of President Brabender's residence by a crowd of howling depositors, some of whom even burst into the chamber of Mrs. Brabender, an invalid, and fiercely demanded payment. There was no run on other city banks today.


Article from Weekly Phoenix Herald, May 22, 1884

Click image to open full size in new tab

Article Text

tions for the decisive contest. Logan has A home here but his residence is rented to other parties and he has engaged apartments at one S of the leading hotels as his headquarters. Blaine has also made a contract for a suite of rooms at one of the more retired hotels and is ex= pected to have no less than fifteen friends to assist him. Two private secretaries, three messengers, a stenographer and ten friends, wh may be denominated lobby ists, will be present early in the action to see that the great candidate's interests are not neglected. Arthur quietly established his bureau here a week since and the members of it are almost entirely local people who are not very popular. It is not generally known that Sabin has a mild atact of presidential fever, but such was found to be the case when two of his workers were stumbled upon to-day who incantiously admitted that he was one of the dark horses. Several other candidates and no less than sixty dark horses are actively negotiating for accommodations here during the meeting. LUCKY BALDWIN MARRIED. SAN FRANCISCO, May 20.-E. J. Baldwin, known as lucky Baldwin, was married this afternoon to Miss Lillie C. Bennett, at the residence of the bride's parents. No cards had been issued. The bride is twenty years of age. Baldwin and his bride left for the last this afternoon. BUYING AMERICAN STOCKS. LONDON, May 20.-The Pall Mall Gazette says: The English bought last week more American stocks than in twelve months previous AN EXCITING FAILURE. ERIE, Pa.. May 21.-This city is in a state of great excitement over the failure of the Erie County Savings Bank, with liabilities of $300,000, nearly all owing to me hanics and poor people. A year ago President Adam Bradbender began speculating, it is said, and recently on the break on oil lost $40,000. When the treasurer opened the safe this morning, he found that the time lock had been tampered with, and all the funds of the bank gone. In their place were notes of Bradbens der to the amount of only half the shortage. Bradbender also receipted at the express office for $10,000 in a package and fled. The stockholders of the bank claim that the depositors will lose nothing, but there was great excitement, and runs were begun on the three other banks. No difficulty was experienced, however, in meeting all demands. ACCIDENT-A DEFAULTER. Los ANGELES, May 21.-To-day, at 10 a. m., while digging under a bank on Foyt street, the bank caved in on two men. They were warned that the bank was giving away by other workmen, but only one of them escaped, with a bruised foot, the other, Anthony McDonnell, bes ing completely covered with stones and rubbish, and instantly killed. His remains were dug out, and the body shown to be terribly crushed. The dead man was aged about 36 years and a native of Ireland. The I Coroner's jury gave a verdict of accidental death. 1 M. S. Fay, superintendent of the Los Angeles Gas Works, who disappeared mysteriously about two weeks ago, has been found short in his accounts several thousand doli lars, and it was ascertained that uns less he took the east bound train for Deming on the 8th, all trace of him NO has been lost. I


Article from The Dallas Daily Herald, May 26, 1884

Click image to open full size in new tab

Article Text

A Slick Scoundrel. ERIE, PA., May 25.-President A dam Brabender, of the defunct Erie County ERVings back, has returned 10 Erie He admits that he and Cashier Pettis Inst $100,000 in grain and o! speculations. Brabender also admin that he took funds 01 the bent, paid it to friends and left, and exonerates the cashier. He is now in jail for safety. An execution will be issued tomorrow. probably to keep him there, There 18 great feeling against him. The paper in the bank 18 turning out wortbless Brabender has assigned private property valued at $100,000 to creditore, but it will not pay all, and the stockholders will probably lose $200,000 to $250,000, and many will be ruined.


Article from Savannah Morning News, May 26, 1884

Click image to open full size in new tab

Article Text

About 73 per cent. were those of small traders whose capital was less than $5,000. The following were the important suspensions during the week: W. B. Scott & Co., bankers and brokers, C. McCulloch, Beecher & Co. and Benner & Pinkney, shipping and commission, New York city; Planters and Mechanics' Bank, Petersburg, Va.; Brennan & Co., bankers, Charlottesville, Va.; Ellett, Drewry & Co., wholesale dry goods, and S. Blanchard, wholesale grocer, Richmond, Va.; Erie County Savings Bank, Erie, Pa.; L. F. Phelps, banker, Westfield, N. Y. In the principal trades they were as follows: Grocers 25, general stores 23. shoes 12, clothing 12, liquors 12, manufacturers 10, tobacco and cigars 7, millinery 6, drugs 5, dry goods 5, jewelry 5, grain and flour 4, hotels and restaurants 4, stationers, etc., 4, oil brokers 4, bankers 3, banks 3, stockbrokers 3, carriages and wagons 3, coal and wood 3, commission 3, fancy goods 3, hardware and agricultural implements 3, oils and paints 3, produce and provisions 3, brewers and maltsters 2, furniture 2, hats and caps 2, hides and leather 2, harness 2, lumber 2, men's furnishing goods 2, rubber goods 2, shipping and commission 2. FLORIDA. Jacksonville.-H. Weiskoff, paints, asks an extension. GEORGIA. Darien.S. Steinshine, general store, assigned. Macon.-R. B. Evans, grocer, sold out. SOUTH CAROLINA. Florence.-C. Phillips & Son, general store, offer 30 cents. Liabilities $15,930; assets $14,775.


Article from Fort Worth Daily Gazette, May 26, 1884

Click image to open full size in new tab

Article Text

THE ERIE BANK. Swamped by Speculations of Its President in Oil and Grain. ERIE, PA., May25.-President dam Brabendar of the defunct Erie County Savings bank has returned to Erie. He admits that he and Cashier Pettit lost $100,000 in oil and grain. Brabendar also admits that he took the money of the bank and paid it to his friends and in jail left, and exonerates the cashier. for now is He be will Execution safety. issued to-morrow morning probably to keep him there. as there is great feeling against him. The paper in the bank is turning out to be worthless. Brabendar has assigned his private property, valued at $100,000. to his creditors, but it will not pay them, and the stockholders will probably lose from $200,000 to $250,000, and many will be ruined.


Article from Savannah Morning News, May 27, 1884

Click image to open full size in new tab

Article Text

THE ERIE BANK PILFERED. Its President and Cashier Both Speculated With Its Funds. ERIE, PA., May 26.-President Adam Brabender, of the defunct Erie County Savings Bank, has returned to Erie. He admits that he and Cashier Pettit lost $100,000 in grain and oil speculations. Brabender also admitsthat he took money belonging to the bank, paid it to a friend and left, and exonerates Mr. Cash. He is now in jail. The feeling against President Brabender is very strong, as the paper in the bank has proved worthless. President Brabender has made an assignment of his private property, valued at $100,000, to his creditors, but this amount will not cover his indebtedness, and the stockholders will probably lose from $200,000 to $250,000. Many of them will probably be ruined. The Penn Bank Again Closes. PITTSBURG, PA., May 26.-The Penn Bank closed its doors again at 12 o'clock to-day, and posted the following notice on the door: Mr. Riddle, President and chief executive officer of this bank, having become suddenly and seriously ill and unable to communicate with the Board of Directors, it is deemed proper to close the bank, under the existing circumstances, until he sufficiently recovers to be present at an adjustment of its affairs. By ORDER OF THE BOARD. Officers have been placed in charge, who refuse to permit an audience with any of the board. There is great excitement. The crash was brought about by the clearing house throwing out checks amounting to $265,000. According to the statement of the directors the bank has raised $931,000 to pay liabilities of $918,000. It is said that there were $300,000 in certified checks out, which were not included in this amount, and which had to be paid. The banks which had loaned the suspended institution funds to tide it over are amply secured. The news of this second suspension spread rapidly and created intense excitement and surprise, owing to the fact that every one had faith in the ability of the bank to pay all claims against it. The directors positively refused to be interviewed. Large crowds flocked to the bank, and the pavement in front of it was crowded with depositors. President Riddle appeared in his usual health at 10 o'clock this morning, but half an hour later it was given out that he was prostrated by a hemorrhage of the lungs, and since then that he has had three repetitions of the trouble. He 19 lying at the Duquesne Club rooms unconscious, and only slight hopes of his recovery are entertained. Still later it became noised about that his illness was due to an overdose of morphia or chloroform, which he took this morning. Physicians are endeavoring to relieve him of the drug. GREAT EXCITEMENT CREATED. PITTSBURG, May 26, 11 P. M.-When it was discovered that President Riddle, of the Pennsylvania Bank, had taken a narcotic there was great excitement and the Dequensne Club building, where he had been taken, was crowded by anxious inquirers after his condition. A stomachpump was brought into requisition and this evening he recovered consciousness. It was learned that he had been attacked with a severe headache this morning and had taken an overdose of the narcotic. All sorts of rumors are afloat. One is a renewal of the report that the heavily in oil and there has been a debank another lost that speculation, heavy falcation, and that the doors were opened to allow certain depositors to withdraw their deposits. Bank officers are generally dumbfounded by the turn of affairs, and profess to be entirely ignorant of the cause of the suspension.


Article from Daily Los Angeles Herald, May 27, 1884

Click image to open full size in new tab

Article Text

Another Thieving Bank President Confesses ERIE, Pa., May 26.-President Brabender, of the defunct Erie County Sav. ings Bank, has returned to Erie. He admits that he and the cashier, Pettit, lost $100,000 in grain and oil specula. tions. Brabender also admits that he took money out of the bank and paid it to friends and left. He exonerates the cashier. Brrbender has assigned his private property, valued at $100,000, to his creditors, but it will not pay them and steckholders will probably lose from $200,000 to $250,000. Many will be ruined. Distinguished Excursion Party. WASHINGTON, May 26.-A distinguished party left Washington at noon to-day for Annapolis. It includes the Pres dent of the Senate, Speaker of the House, members of the Senate and the House Committee on Naval Affairs and Appropriations, Admiral Porter, Lieuteuant-General Sheridan, Ministers of England, Russia, Germany and France and the Mary land members of Congress. Yellow Jack in Havana. HAVANA, May 26.-There were thirteen deaths from yellow fever during the week ending Saturday.


Article from Delta Chief, May 28, 1884

Click image to open full size in new tab

Article Text

The injunction suit of the Denver & Rio Grande Western Railway vs. the Denver & Rio Grande railroad, which was set for a hearing at Salt Lake on the 22d, was continued until June 16. The Erie County Savings Bank. at Erie, Pennsylvania, has suspended. Capital, $150,000. Liabilities, $300,000. The president is said to have been dabbling in oil. He has disappeared. John Cummings, a clerk in the employ of the Standard Oil company at Long Island City, New York, has been missing since the 17th with $4,000 which be had drawn to pay the employee. The wool growers' meeting at Chicago, appointed two committees, of three Democrats and three Republicans, to wait upon each of the national conventions to urge the claims of the wool growers. The Methodist conference, on a tie vote, and in which the chairman's vote was cast in the affirmative, declared that color should be no bar to worship in any church or attendance npon any school. Governor Glick has selected the First National Bank of New York as the fiscal agent for Kansas. He says the state will lose nothing by the suspension of Donnell, Lawson & Simpson, whom he believes will pay in full. There were 134 delegates present at the opening of the National Wool Growers' meeting at Chicago, fifty of whom were from Ohio and thirty-eight from Pennsylvania. Twenty-one states and territories were represented. In a collision between the St. Louis express and a freight train on the New York Central road, on the 23d, twenty persons were injured. Prince Yamasiski, of Japan. and eleven members of his suite, were slightly injured. The majesty of the Czarowitch was celebrated in St. Petersburg, with much cere mony. The Ozar and Czarowitch drove through the streets unattended, but special orders had been given to keep the windows of the houses closed. An outbreak is imminent among the Indians in the northwest territory. Piapot has called a big Sun dance, at which the tribes will make their demands. Yellow Calf's band are armed, and troops have been sent to meet them. A serious outbreak is reported between the Government troops and the Inhabitants of Liares, about two hundred miles from Matamoras, Mexico. Fears are expressed that a revolution has started which may spread over the entire country. The Ohio wool growers will ask the Wool Growers' convention to support no man for office unless he is pledged to the Immediate restoration of the wool tariff of 1867. They claim that the wool growers can control 2,000,000 votes, which is the balance of power. A very large meeting of citizens and business men was held in Cooper Union, New York, on the 20th, to urge the renomination of President Author by the Republican Convention soon to meet at Chicago. Speeches were made by Henry Ward Beecher, ex-Secretary Bristow and others. A committee of one humdred was selected to attend the convention in President Arthur's behalf. Two men arrived at Cheyenne on the night of the 20th from the Sabille country, eighty-five miles north of that place, with the body of George Metcalf in their possession. Metcalf, while at dinner, had got into a dispute with William Maloney, when the latter shot him dead. Maloney was arrested, and while on his way to Cheyenne, was captured by the mob, who lynched him.


Article from Weekly Phoenix Herald, May 29, 1884

Click image to open full size in new tab

Article Text

ERIE COUNTY SAVINGS BANK. ERIE, Pa., May 27.-President Brabender, of the defunct Erie counFy savings bank has returned to Erie. He admits that he and Cashier Pettit lost $100,000 in grain and oil sp. culations. Brabender also admits that he took money out of the bank and paid it to friends and left. He exonerates the cashier. Brabender has assigned his private property valued at $100.000 to creditors but it will not pay them, and stock holders will probably lose $200,000 or $250,000. Many will be ruined. THE UNION PACIF'C PASSES ITS DIVI-


Article from Burlington Weekly Free Press, May 30, 1884

Click image to open full size in new tab

Article Text

RASCALLY BANK OFFICERS. How the Erie County Bank was Robbed. ERIE, Pa., May 25 -President Adam Brabender of the defunct Erie county savings bank has returned to Erie and admitted that he and Cashier Pettit lost one hundred thousand dollars in grain and oil speculations. Brabender also admits that he took the money of the bank and paid it to friends and left. He exonerates the cashier who is now in jail for safety, but an execution will be issued to-morrow morning, probably, to keep him there. There is a strong feeling against him, the paper in the bank turning out worthless. Brabender has assigned his private property valued at $100,000 to the creditors, but it will not pay them all. The stockholders will probably lose two hundred to two hundred and fifty thousand dollars and many will be ruined.


Article from Idaho Semi-Weekly World, June 3, 1884

Click image to open full size in new tab

Article Text

Erie, Penn., is in a state of great excitement over the failure of the Erie County Savings Bank, with liabilities of over $300,000, nearly all owing to mechanics and poor people. The institution was incorporated in 1871, with a capital of $150,000, and had heretofore done a safe business. A year ago, the president, Adam Brabender, began speculating, it is said, and recently, on the break in oil, lost $40,000. When the treasurer opened the safe Monday morning he found that the time-lock had been tampered with and all the funds of the bank were gone. In their place were notes of Brabender's to the amount of only half the shortage. Brabender also receipted at the express office for a $10,000 package and fled. The last seen of him was in S church on Sunday evening. He has 1. heretofore borne a good reputation, was called an honest man, and reput-1 ed to be worth $100,000. The stockholders of the bank declare that the r depositors will lose nothing, but there o is great excitement and runs were bed gun on three other savings banks if No difficulty was experienced, how 1ever, in meeting all demands. The le missing president is fifty years old.


Article from The State Journal, June 14, 1884

Click image to open full size in new tab

Article Text

General D. B. M'Creary's Loss. General D. B. M'Creary, attorney, and a director of the defunct Erie County Savings Bank, made a deed yesterday to the receiver of all of his real estate, valued at $15,000, for the benefit of the unfortunate depositors. He was Adjutant General of Pennsylvania under Governor Geary, commanded a brigade in the late war. General M'Creary is well-known in Harrisburg, and has many friends here who will not only regret to hear of his losses, but extend hopes that he will retrieve his fortunes and again be prosperous.


Article from Evening Star, July 10, 1884

Click image to open full size in new tab

Article Text

A BANK PRESIDENT IN JAIL-Adam Brabender, the bank president who wrecked the Erie (Pa.) county savings bank, and who on his return from abroad took retuge from the violent depositors by seciuding himself in the county jail, was last night arrested at the instance of a depositor on a charge of embezzling the bank's funds to the amount of $140,000. Brabender officiated last Sunday at the laying of the corner stone of the church of which he is trustee, and whose funds he drew out of the bank before It suspended. He was committed to the county jail in default of $100,000 ball.


Article from Sacramento Daily Record-Union, July 11, 1884

Click image to open full size in new tab

Article Text

TELEGRAPHIC BREVITIES. Bowdoin College has conferred the degree of Doctor of Law on Blaine. Best & Co., dealers in children's clothing, in New York, have assigned. Liabilities, $180,000. A Boston dispatch says that Coggswell has presented that city with a fountain, to be located on the Common. The demand for ostrich plumes has increased very much since Blaine was nominated, and the price has gone up nearly one-fourth. A German girl, aged 6 years, arrived in New York Wednesday. She has thick, bushy whiskers. Her parents design her forshow business. A special from London says: It is asserted that Patti proposes to take advantage of the new divorce law in France by immediately applying for a divorce from her husband. the Marquis Caux. George W. Ross, the well-known musician and song-writer, died suddenly of consumption Wednesday at a cheap Bowery lodging-house in New York. He was once a violinist in Dan. Bryant's minstrels. A special from Washington says: It is reported General Swaim intends to resign from the army rather than face A Court-martial. It is thought the President won't accept it, but will make him face the music. President Asa Brabender, who, it is said, caused the wreck of the Erie County Savings Bank and had to take refuge in jail from a mob, was arrested in Erie. Pa., Wednesday. In default of $100,000 bail he was committed to jail. Pat Rooney, the Irish variety actor, is in trouble about money matters in New York. Wednesday he swore that all he passessed were clothes, a watch and a diamond pin. There being judgment against him a receiver was appointed. The Baltimore Manufacturers' Record publishes the semi-annual statement of the progress of the South, showing that during the last six months nearly $70,000,000 had been invested in new industrial enterprises and in enlarging those already established. The New York Times says: Lord Mandeville is in bad odor at Long Branch. He has not paid his betting debts and there is a movement to expel him from the Monmouth Park race course. He is reported ill in the city, having taken sixty grains of quinine.


Article from The Indianapolis Journal, July 30, 1884

Click image to open full size in new tab

Article Text

CAUSED BY A BANK FAILURE. Why the Supply of Bibles in the Soudan Has Been Suddenly Cut Off. Erie (Pa.) Dispatch. According to report, the failure of the Erie County Savings Bank has had a farreaching effect. The disaster has touched the Soudan with hope-blighting power. The bank. it seems, was made the depository of a fund of $27,000, placed there by Dr. William Gibson, a philanthropist of Jamestown, Pa., for the conversion of the followers of El Mahdi. The Doctor is an immensely wealthy man, and has a hobby for saving the heathen. He has devoted nearly $500,000 for the spread of Christianity in foreigh lands, and, it is asserted, will bequeath a large fortune to Christianizing the earth. In Erie two of the largest blocks in the city were built by him and dedicated to foreign missions, the rent being used for the purchase of Bibles printed in heathen tongues. They are called the Mission Blocks, and on Wednesday of this week one of them came near being the scene of a murder. a young man having been nearly brained by a rival at a dance in one of the rooms. Dr. Gibson was in Erie on Monday, and stated that the $27,000 was intended for Bibles for distribution through Egypt and the Soudan. He was traveling through the land of the Nile a few years ago, and found the natives in a deplorable spritual state. Some of the very Bibles which had been sent out to convert them were worn around the neck, on a string, as ornanients. He then determined to make the Bible better known in Africa, and to that end proposed to flood the Soudan with the gospel. "These poor people will have to go without now," said the philanthropist to the receiver. He appropriates SO much of his wealth to the different Christian projects every year. There are some who think the noble-hearted gentleman's money could be advantageously applied in reforming bank officials. As nearly all the jails and penitentiaries in the State are supplied with Bibles from Dr. Gibson's bounty, and as some cashiers are under indictment for stealing depositors' money, it is possible some good in that direction may yet be effected.


Article from Savannah Morning News, October 4, 1884

Click image to open full size in new tab

Article Text

WERETOCRUCIFY THEMSELVES The Man and Wife to First Kill their Children in Imitation of Herod. BUFFALO, N. Y., Oct. 3.-A terrible tragedy was prevented at Erie, Pa., today through the interference of the authorities. Leo Schreck and his wife and John Flick had $118 deposited in the Erie County Savings Bank at Erie, and when that institution suspended the loss of the money drove them insane. Thinking afterwards in their insanity that they had committed some great sin, they inflicted self flagellation. To-day two officers observed Schreck and his wife digging a grave in their back yard. The house was entered, when it was found that they intended to enact the death of Christ, which was to be preceded by the killing of their children to represent Herod's slaughter of the innocents. They are now in custody.


Article from Daily Los Angeles Herald, October 4, 1884

Click image to open full size in new tab

Article Text

Insane Antics. ERIE, Ha, Oct. S.-Leo Schrick and wife and John Fleikee had $118 depos. ited in the Erie County Savings Bank when the bank suspended. The loss of the money drove them insane. Thinking afterwards they were commiting a great sin they inflicted self-flaggelation. To-day two offieers saw the man and his wife digging a grave in the back yard of their house. They entered and found that the people intended to enact the death of Christ, to be followed by the killing of their children, to represent Herod's slaughter of innocents. They were arrested and jailed.


Article from Daily Republican, October 4, 1884

Click image to open full size in new tab

Article Text

# Insaue from Loss of Money. At Erie, Pa., Leo Schreck and his wife and John Flick had $118 deposited in the Erie County Savings Bank, and when that concern suspended, the loss of their money drove them insane. Thinking afterwards, in their insanity, that they had committed some great sin, they inflicted self-flagellation. On Friday two officers observed Schreck and his wife digging a grave in their back yard. The house was entered, when it was found they intended to enact the death of Christ, which was to be followed by the killing of their children to represent Herod's slaughter of the innocents. They are now in custody.


Article from The Wheeling Daily Intelligencer, June 3, 1885

Click image to open full size in new tab

Article Text

Two Deaths From Bank Failures. Eur, PA., June 2.-Frank Maguire, a demented depositor of the wretched Erie County Savings Bank, deliberately shot his twelve-year old sister this afternoon, sending a ball through her body and another through her wrist. He had brooded over the lots of his savings until his mind are way. This is the fourth tragedy that has arisen out of the savings bank villainy. This morning Hon Jesse Obersole, one w the principal stockholders in the Humboldt Bank, which recently suspended, died of brain softening. His losses and liabilities as stockholder preyed upon him, caasing death. The demise of the last bank was honorable, that of the former inlamous.