18731. Houtzdale bank (Houtzdale, PA)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
September 30, 1891
Location
Houtzdale, Pennsylvania (40.825, -78.351)

Metadata

Model
gpt-5-mini
Short Digest
c0d4295a

Response Measures

Full suspension, Books examined

Other: Arrests of president and cashier; receivers appointed; bank examiner took possession of related Clearfield bank; mobs and police intervention.

Description

Newspaper accounts (Sept 30–Oct 2, 1891) report heavy withdrawals and excited depositors after the Clearfield First National bank closed and internal embezzlement/defalcation was discovered. The Houtzdale bank suspended/closed (receivers appointed) and receivers later pursued recovery; criminal charges against President Dill followed. Sequence: run/withdrawals → suspension/closure → receivership.

Events (3)
1. September 30, 1891 Run
Cause
Bank Specific Adverse Info
Cause Details
Run precipitated by closure of the First National bank at Clearfield and reports of defalcation/embezzlement (teller Hamilton; accusations against President Dill) leading depositors to withdraw funds.
Measures
Cashier McGrath closed the bank after learning Clearfield had closed; statements assuring depositors they would be paid; heavy police guard placed to keep crowds back.
Newspaper Excerpt
Hundreds of miners are parading the streets ... depositors were on the streets ... word spread rapidly, and before long several hundred depositors were on the streets.
Source
newspapers
2. September 30, 1891 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed following runs and discovery/allegations of defalcation and large shortages (reports of little cash in vaults and alleged embezzlement by officers).
Newspaper Excerpt
The Houtzdale bank was closed yesterday ... This afternoon receivers for the Houtzdale bank were appointed and they are now in charge.
Source
newspapers
3. October 1, 1891 Receivership
Newspaper Excerpt
This afternoon receivers for the Houtzdale bank were appointed and they are now in charge. Judge Krebs appointed George W. Dickey and John Boyer receivers of the Houtzdale bank and they now have charge of the insti- tution.
Source
newspapers

Newspaper Articles (19)
1. October 1, 1891 Pawtucket Tribune Pawtucket, RI
Article from Pawtucket Tribune, October 1, 1891

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MINERS OUT OF POCKET. Closing of a Bank Creates a Big Sensation in a Mining Town. HOUTZDALE, Pa., Oct. 1.-The Houtzdale bank was closed yesterday. The president, W. H. Dill, is also president of the First National bank of Clearfield. Many secret and beneficial associations, the borough and several township treasurers are depositors in various sums aggregating many thousands of dollars. The savings of Hungarian and Swede miners that are locked up in the bank aggregate $70,000. Deposits were received as late as yesterday morning. The excitement is intense and were it believed that any considerable amount of money was in the bank, nothing could prevent the excited Slavs from breaking in its doors. The streets were thronged with miners. Yesetrday was also pay day and a package of about $30,000, sent from Philadelphia by the Berwind Coal company, havIng been sent in the name of the Houtzdale bank, the company's paymaster could not get possession of the money. This added greatly to the excitement. CLEARFIELD, Pa., Oct. 1.-The First National bank of this place closed its doors yesterday. There has been a run on it for a long time.

2. October 1, 1891 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, October 1, 1891

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TROUBLE FEARED. HOUTZDALE, Pa., Sept. 30.-There is immense excitement here tonight over the closing of the Dill bank at Clearfield (and lhe trouble here with the Houtzdale bank. The wildest rumore are floating about regarding the latter institution, though Cashier McGrath is quoted as stating that the bank will pay dollar for dollar. Hun. dreds of miners are parading the streets or gathering at the street corners, and trouble is feared every moment with the Huns and Slave, who had their all in the bank. The deposits of the First National bank at the time of the suspension were about$100,000. President Dill says the depositors of both institutions will be paid dollar for dollar. The Houtzdale bank trouble was caused by the defalcation of Teller Hamilton a short time ago.

3. October 1, 1891 The Wilmington Daily Republican Wilmington, DE
Article from The Wilmington Daily Republican, October 1, 1891

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EXCITED DEPOSITORS. he Houtzdale and Clearfield Banks Close Their Doors. HOUTZDALE, Pa., Oct. 1.-The Houtzdale bank has closed its doors. W. H. Dill, of Clearfield, owned the bank and was its president, with John B. MoGrath, of Houtzdale, cashier. W. H. Dill is also president of the First National bank of Clearfield, Pa., which has also closed its doors. The Houtzdale bank has done a large business in the way of deposits. Individual deposits range from $13,000 down, while many secret and beneficial associations, the borough and several township tréasurers are depositors in various sums aggregat'ne many thousands of dollars. The savings of the Hungarian and Swede miners that are locked up in the bank aggregate $70,000. Deposits were ! eceived three hours before the suspension. The excitement is intense, and were it believed that any considerable amount of money was in the bank nothing could prevent the excited Slavs from breaking in its doors. The streets are thronged with miners. A package containing about $30,000,sent from Philadelphia by the Berwind Coal company, having been sent in, the name of the Houtzdale bank, the company paymaster could not get possession of the money. This added greatly to the excitement. Cashier McGrath says that everything is correct in the bank, and the depositors will lose nothing. Cashier McGrath has made an assignment to John Beyer, and will ask the court to appoint a receiver should the president of the bank not concur in the assignment.

4. October 1, 1891 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, October 1, 1891

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EMBARRASSED BANKS. Two Related Institutions in Pennsylvania on the Verge of Ruin. CLEARFIELD, Pa., Sept 30 -The First National bank of Clearheld closed its doors this morning. An unprecedented run on Saturday, Monday and Tuesday. amounting to $40,000, made it impossible to continue business, and the bank suspends payment. It is thought the bank will pay in full. HOUTZDALE, Pa., Sept. 30.-There is intense excitement here tonight over the closing of the Dill bank at Clearfield and trouble here with the Houtzdale bank. the wildest rumors are floating about regarding the latter institution, though Cashier McGrath is quoted as stating that the bank will pay dollar for dollar. Hundreds of miners are parading the streets or gathering at street corners, and trouble is feared every moment with the Huns and Slavs who had their all in the bank. The deposits of the bank at the time of its suspension were about $100,000. President Dill says the depositors of both institutions will be paid dollar for dollar. The Houtzdale bank trouble was caused by the defalcation of Teller Hamilton a short time ago.

5. October 1, 1891 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, October 1, 1891

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Excitement Over the Failure at Houtzdale. HOUTZDALE, Pa., Sept. 30.-There is immense excitement here to-night over the closing of the Dill bank at Clearfield, and there is trouble here with the Houtzdale bank. The wildest rumors are floating about regarding the latter institution, though Cashier McGrath is quoted as stating the bank will pay dollar for dollar. Hundreds of miners are parading the streets or gathering at street corners, and trouble is feared every moment with the Huns and Slavs who had their all in the bank. The deposits of the First National bank at the time of the suspension were about $100,000. President Dill says the depositors of both institutions will be paid dollar for dollar. The Houtzdale bank trouble is caused by the defalcation of Teller Hamilton a short time ago.

6. October 2, 1891 The Helena Independent Helena, MT
Article from The Helena Independent, October 2, 1891

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PR HELENA. MONTANA. FRIDAY MORNING, OCTOBER 2, 1891 NORWOOD'S PLAN. FURIOUS DEPOSITORS. " MADE HARDING WAS MURDERED Tremendous Excitement Over Two Bank bstitute Proposed for the Alliance Failures in Pennsylvania. Sub-Treasury Scheme. A HOUTZDALE, Pa., Oct. 1.-Excitement TA, Gn., Oct. 1.-Thomas M. Norover the suspension of the Garfield and wood, ex-United States Senator from sh Attempt The Woodchopper Killed by a Blow Houtzdale banks continues. When the deGeorgin, by invitation of the legislature, Em positors were informed that they were From a Heavy Car addressed the members last night on the likely to receive less than 50 per cent. of general question of the finances and curPin. their money the lower classes formed in rency of the United States. He advanced a new plan for banking, declaring against the squads and shouted execrations and threats present system. His plan is for congress to against the officers that would certainly direct the secretary of the treasury to prehave been put in execution had the latter 1 if Dynam In Fear of Some Neighbors, Owing pare a sufficient number of legal tender been found. A large delegation of Bri notes of convenient denominations, which, to Testimony He Had Hontzdale citizens called on President Dill added to existing currency, will give $30, at Clearfield to-night and demanded and Given. $40, or $50 per capita; the treasurer shall pleaded with him that he make some BATIShold at least 25 per cent of the issue in coin, factory statement. They pointed out that gold and silver. to redeem the notes. Northe two towns were actually threatened wood preposes to readjust and equalize the with financial ruin, and other disasters in The Penrose Case Not Yet Finished-NarMiscalcu ever circulation of currency in this way: Each the future from private individuals were to Liber row Escape From Death in a state, on demand, shall receive of legal be feared unless he made Home sort of a Butte Mine. tonder an amount which, added to the exstatement showing what he could and isting circulation, will make the would do in paying the vast army of deposamount per capita decided upon itors of the two banks. To all these pleadby congress. This shall be used ings President Dill returned answer that he by each state according as the people deterVIENNA BUTTE, Oct. 1.-[Special.]-- coroner's was all right and the banks were all right the mine; that is, in banking, or be let by the arrived i inquest was begun to-day on the body of and if the depositors stood by him they the state to individuals. Land shall be one of would be all right. Luke Harding, found yesterday in his Prague, t the securities and each state shall lend on the This afternoon receivers for the Houtzthe news cabin which had been almost destroyed by its own products. Thus the natural rewith dale bank were appointed and they are all over fire the night before. Examination by the sources of the state would be doveloped and now in charge. Bank Examiner Miller tary its wealth increased to the benefit of every county physician revealed a fracture of the the news took possession of the Clearfield der, citizen. Each state should set aside not skull and a piece of broken iron driven into bank. At the time of suspension exagerate ) nbless than 10 per cent. of its legal tenders to the Houtzdale bank had deposits of the brain. A car pin WAS found in the ruins tion. Th protect its citizens against financial crises ger$200,000 but there WAS less than $60,000 in and in the opinion of the doctor Harding tempt wa and squeezes. With millions loaned the Neil the vaults. This afternoon and to-night was murdered by a blow from the pin and states would receive annually much interest blow up t affairs have become alarming. Men and emthe oabin then robbed and set on fire 60 as with which a sinking fund could be estabwomen clamored at the doors in vain and suburb d d he lished, and in time the funded debt paid pressure before the doors becamo BO great to conceal the murder. The inquest will be have occu off. and besides the state could in R fow orethat a strong guard of policemen concluded to-morrow, when it is thought train pas years discontinue taxation, except county was finally placed there and ordered additional facts will be brought out. Some road men and municipal. to beat the howling depositors back uptime ago Harding expressed fears that he sins as th Norwood's plan, which is n subtitute for with clubs, AB it was feared the bank are the alliance sub-treasury plan, avoids fedwould be demolished and looted. Presiwould be murdered by parties residing near ing a bon and eral action, each state lends to farmers, on dent Dill and Cashier McGrath were arhim, because of testimony he gave in a trial appearing ited land or its own special products, at low inrested to-night upon petition of one deposiabout a year ago. He told neighbors that design. terest. tor, and gave bail in the sum of $2,000. they parties had made threats against him. Two Official

7. October 2, 1891 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, October 2, 1891

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MOBS HOWLING AT THE DOORS. Clearfield and Houtzdale Banks Wrecked by the President. CLEARFIELD, Pa., Oct. 1.-Excitement here concerning the First National bank failure was intensified last night when the condition of things at Houtzdale was learned. The Houtzdale bank is a private concern bought by Dill last spring. When Dill took charge he placed John B. McGrath, in whom the community had the utmost confidence, in charge as cashier. This at once stimulated business, and on the first day over $9,000 was received in deposits, mostly coming from poor miners. At that time the deposits did not reach $80,000, but through McGrath's well-known integrity and popularity they grew until yesterday morning they reached $200,000. Upon opening the bank yesterday McGrath had occasion to telephone the First National concerning a check and was astonished to learn it had closed. He at once closed his bank, but had already received several deposits. Word spread rapidly, and before long several hundred depositors were on the streets. The ignorant Huns and Slavs, who have deposits running from $200 to $2,000, grew frantic when they learned their money was in danger. The larger depositors at once sought Cashier McGrath, and he informed them that although the deposits reach $200,000, less than $30,000 paper and currency was in the bank when it closed. He said President Dill had removed a great amount of money, giving as his reason that the Houtzdale vault was not secure and he would put it in the Clearfield vault. Many of Dill's friends of yesterday are his enemies today. It is said he has been borrowing right and left. Only a few days ago his father-in-law, Jonathan Boynton. advanced $20,000 on the representation that it would fix everything up and put the bank on its feet. HOUTZDALE, Pa., Oct. 1.-The excitement over the suspension of the Clearfield and Houtzdale banks continues. When the depositors were informed that they were likely to receive less than 50 per cent. of their money, the lower classes formed in squads and shouted execrations and threats against the officers that would certainly have been put in execution had the latter been found. A large delegation of Houtzdale citizens called on President Dill at Clearfield tonight and demanded and pleaded with him that he make some satisfactory statement. They pointed out that the two towns were actually threatened with financial ruin, and other disasters in the future from private individuals were to be feared unless he made some short statement showing what he could and would do in paying the vast army of depositors of the two banks. To all these pleadings Dill returned answer that he was all right and the banks were all right, and if the depositors stood by him they would be all right. This afternoon receivers for the Houtzdale bank were appointed and they are now in charge. Bank Examiner Miller took possession of the Clearfield bank. At the time of the suspension the Houtzdale bank had deposits of $200,000, but there was less than $60,000 in the vaults this afternoon, and tonight affairs have become alarming. Men and women are clamoring at the doors in vain. The tide and pressure before the doors became so great that a strong guard of policemen were finally placed there and ordered to beat the howling depositors back with clubs, as it was feared the bank would bedemolished and looted President Dill and Cashier McGrath were arrested tonight upon the petition of one of the depositors, and gave bail in the sum of $2,000. WASHINGTON CITY, Oct. 1.-Bank Examiner Drew has been ordered to take charge of the First National bank, of Clearfield, Pa., reported to be in financial trouble.

8. October 2, 1891 Evening Journal Wilmington, DE
Article from Evening Journal, October 2, 1891

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PRESIDENT DILL NEARLY MOBBED. The Hungarians at Houtzdale Maddened by the Loss of Their Money. HOUTZDALE, Pa., Oct. --This town is still feverish with excitement over the Houtzdale bank failure. All day long angry crowds thronged the streets in the vicinity of the closed bank, and at times an outburst was feared. President Dill is condemned in the strongest terms. Cashier McGrath and Dill have both been arrested. Dill was arrested on a charge of embezzlement preferred by Elizabeth Dilk, a depositor in the Houtzdale bank. Dill gave bail in $2,000. As Dill was leaving the court house a half drunken Hungarian, whose money is locked up in the bank, grabbed him roughly by the arm. Five other Hungarians jumped into the fray, quickly followed by as many officers. Dill was roughly handled before he escaped to his house. The house is guarded by police officers, who are kept busy in driving the half drunken Huns away. An order has been issued to close all saloons in order to prevent the furious Huns from obtaining liquor. Cashier McGrath estimates the liabilities at about $200,000 and says that in case they get nothing from Clearfield they will be able to pay fifty cents on the dollar. The following statement was dictated by Bank President Dill lastevening: "Family treachery on the part of my brother-inlaw, A. F. Boynton, was the cause of the assignment and failure. At the time I was elected president of the bank I also found that J. B. Nevling, former teller, later cashier, was a traitor to the business interests of the bank. I demanded his resignation, and since that time there has been a persistent run on the bank, and on Tuesday last I considered it unwise to keep the bank open. Depositors in both banks will be paid in full." Bank Examiner Miller is in charge of the bank.

9. October 2, 1891 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, October 2, 1891

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BUSTED BANKS. Pennsylvania and Illinois Depositors Fare III. HOUTZDALE, Pa., Oct. 1.- The excitement over the suspension of the Clearfield and Houtzdale banks continues. When depositors were informed they were likely to receive less than 50 per cent of their money, the lower classes formed in squads, and shouted execratiens and threats against the officers that would have certainly been put in execution had they been found. A large delegation of Houtzdale citizens called on President Dill at Clearfield to-night and demanded and pleaded with him that he make some satisfactory statement. They pointed out that the two towns were actually threatened with financial ruin, and other disasters in the future were to be feared unless he made some sort of statement showing what he could and would do in paying the vast army of depositors in the two banks. To all these pleadings President Dill returned the answer that he was all right and the banks were all right, and if the depositors stood by him they would be all right. This afternoon Judge Krebs appointed George W. Dickey and John Boyer receivers of the Houtzdale bank and they now have charge of the insti-

10. October 2, 1891 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, October 2, 1891

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tution. Bank Examiner Miller took possession of the Clearfield bank. At the time of the suspension the Houtzdale bank had deposits of $200,000, but there was less than $60,000 in the vaults. To-night affairs have become alarming, the financial clouds becoming darker every hour with every new development. Men and women clamored at the doors in vain. The tide and pressure before the doors becoming SO great, a strong guard of policemen was finally placed there and ordered to beat the howling depositors back with their clubs, as it was feared the bank would be demolished and looted. President Dill and Cashier McGrath were arrested to-night upon the petition of one of the depositors, and gave bail in the sum of $2,000. President Dill is condemned in the strongest terms, but all have kindly words for Cashier McGrath who is confined to his bed by nervous prostration. Mr. McGrath stated this evening that although he had been talking by telephone with Mr. Dill just before banking hours yesterday, he had no intimation that the Clearfield bank was in serious trouble until at a later hour he was notified of the fact by telephone. "We have no losses in our business and the only money uncollectable is due from the Clearfield bank." Cashier McGrath estimates the liabilities at about $200,000, and says that in case thev get nothing from Clearfield they will be able to pay 50 cents on the dollar. As Dill was leaving the court house a half drunken Hungårian, whose money is locked up in the bank, grabbed him roughly by the arm. Five other Huns jumped into the fray, quickly followed by many officers. Dill was roughly handled before he escaped to his house. The house is guarded by police officers who are kept busy in driving the half-drunken Huns away. An order has been issued to close all saloons in order to prevent the furious Huns from obtaining liquor. PARIS, III., Oct. 1.-Developments in the Chrisman bank failure not only confirm first reports but makes the situation even more serious than was supposed. It is now stated on competent authority that the loss will not be less than $150,000. and will probably exceed that sum. The assets will not exceed $10,000.

11. October 2, 1891 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, October 2, 1891

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ANGRY DEPOSITORS. The Excitement Over the Clearfield Bank Failure Continues-The Lower Classes Formed in Squads and Uttered Execrations-A Police Guard Placed Around the Bank. HOUTZDALE, Pa., Oct. 1.-The excitement over the suspensions of the Clearfield and Houtzdale banks continues. When depositors were informed they were likely to receive less than 50 per cent. of their money the lower classes formed in squads and shouted execrations and threats against the officers that would certainly have been put in execution had the latter been found. A large delegation of Houtzdale citizens called on President Dill at Clearfield tonight and demanded and pleaded with him that he make some satisfactory statement. They pointed out that the two towns were actually threatened with financial ruin and other disasters in the future from private individuals were to be feared unless he made some sort of a statement showing what he could and would do in paying the vast army of depositors of the two banks. To all these pleadings President Dill returned the answer that he was all right, and if the depositors stood by him they would be all right. This afternoon receivers for the Houtzdale bank were appointed and they are now in charge. Bank Examiner Miller took possession of the Clearfield bank. At the time of the suspension the Houtzdale bank had deposits of $200,000, but there was less than $60,000 in the vaults. This afternoon and to-night affairs have become alarming. Men and women clamored at the doors in vain. The tide and pressure before the doors becoming so great, a strong guard of policemen was finally placed there and ordered to beat the howling depositors back with clubs, as it was feared the bank would be demolished and looted. President Dill and Cashier McGrath were arrested to-night upon the petition of one of the depositors, and gave bail in the sum of $2,000.

12. October 2, 1891 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, October 2, 1891

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The Excitement in Clearfield. CLEARFIELD, Pa., Oct. 1.-The excitement here concerning the First National bank failure was intensified last night when the condition of things at Houtzdale was learned. The Houtzdale bank is a private concern bought by Dill last spring. When Dill took charge he placed John B. McGrath, in whom the community had the utmost confidence, in charge as cashier. This at once stimulated business, and on the first day over $9,000 was received in deposits, mostly coming from poor miners. At that time the deposits did not reach $60,000, but through McGrath's well known integrity and popularity they grew until yesterday morning they reached $200,000. Upon opening the bank yesterday McGrath had occasion to telephone the First National bank concerning a check and he was astonished to learn it had closed. He at once closed his bank but had already received several deposits. The word spread rapidly and before long several hundred depositors were on the streets. Ignorant Huns and Slavs, who have deposits running from $200 to $2,000, grew frantic when they learned their money was in danger. The larger depositors at once sought Cashier McGrath and he informed them although the deposits reach $200,000, less than $30,000 in paper and currency was in the bank when it closed. He said President Dill had removed a great amount of money, giving as his reason the Houtzdale vault was not secure, and he would put it in the Clearfield vault. Many of Dill's friends of yesterday are his eremies to-day. It is said he has been borrowing right and left. Only a few days ago his father-in-law, Jonathan Boynton, advanced $20,000 on the representation it would fix everything up and put the bank on its feet.

13. October 3, 1891 The Helena Independent Helena, MT
Article from The Helena Independent, October 3, 1891

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The Scoundrelly Bankers. CLEARFIELD, Pa., Oct. 2.-President Dill, of the defunct Houtzdale and Clearfield banks, was arrested again to-night, making the third time to-day. The last arrest was made on a warrant sworn out in Houtzdale charging him with embezzling $85,000. He secured bail for the other charges, but has not been able to secure another dollar bail and is now at his home closely guarded by officers. It is believed that he will go to jail some time to-night, but the officers say they will try and keep him in the house until the arrival of United States District Attorney Lyon and United States Marshal Darrah to-morrow morning. When the news spread that Mr. Dill was arrested trouble with the depositors broke out anew, and the excitement to-night is almost as great as when the banks first failed. It was generally thought that no arrests would be made, at least until later on, and the bank examiner who is in charge of the Clearfield bank, and Receivers Byers and Dickey, of Houtzdale, were allowed to go quietly on with their work of investigating the books of the bank, when they stumbled on the accounts and entries which caused their arrest. The Huns and Slavs are still wild over their losses and to-night late President Dill was burned in effigy.

14. October 3, 1891 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, October 3, 1891

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THE BANK ROBBERS. Dill, the Pennsylvania Wrecker, Held by Officers. MINERS STILL THREATENING. Collapse of a Boston Banking FirmThe Chrisman, Ill., Financiers Gambled Away Money in Chicago. CLEARFIELD, Pa., Oct. 2.-President Dill, of the defunct Houtzdale and Clearfield banks, was arrested again tonight, making the third time today. The last arrest was made on a warrant sworn out in Houtzdale, charging him with the embezzlement of $85,000. He secured bail and is now at his home, closely guarded by officers. It is believed he will go to jail some time tonight, but the officers say they will try and keep him in the house until the arrival of United States District Attorney Lyon and United States Marshal Barrah tomorrow morning. When the news spread that Dill was arrested trouble with the ,depositors broke out anew, and the excitement tonight is almost as great as when the banks first failed. It was generally thought no arrests would be made, at least until later on, and the bank examiner who is in charge of Clearfield bank and Receivers Byers and Dickey, of Houtzdale, were allowed to go quietly on with their work investigating the books of the bank. when they stumbled on accounts and entries which caused their arrest. The Huns and Slave are still wild over their losses, and tonight the late president was burned in effigy. Dill and Cashier McGrath, of the Houtzdale bank, were arrested last night on a charge of embezzlement and gave bail this morning. Dill was at once rearrested on a charge sworn out by the national bank examiner and held in $25,000 bail. The report that Dill had made an assignment is incorrect, but judgments aggregating $30,000 have been entered against him. WASHINGTON CITY, Oct. 2.-Comptroller of the Currency Lacey has received a telegram from Bank Examiner Miller, recommending that the First National bank, of Clearfield, Pa., be placed in the hands of a receiver. The comptroller says he will appoint one.

15. October 3, 1891 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, October 3, 1891

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Banker Dill Arrested for Embezzlement. CLEARFIELD, Pa., Oct. 2.-President Dill, of the defunct Houtzdale and Clearfield banks, was arrested again to-night, making the third time to-day. The last arrest was made on a warrant sworn out in Houtzdale, charging him with embezzling $85,000. He secured bail for the other charges, but has not been able to secure another dollar of bail, and is now at his home closely guarded by officers. It is believed he will go to jail some time to-night, but the officers say they will try and keep him in the house until the arrival of United States District Attorney Lyon and United States Marshal Barrah to-morrow morning. When the news spread that Mr. Dill was arrested trouble with the depositors broke out anew, and the excitement to-night is almost as great as when the banks first failed. It was generally thought no arrests would be made, at least till later, and the bank examiner who is in charge of the Clearfield bank and Receivers Byers and Dickey, of Houtzdale, were allowed to go quickly on with their work of investigating the books of the bank, when they stumbled on accounts and entries which caused their arrests. The Huns and Slavs are still wild over their losses, and to-night late the president was burned in effigy.

16. October 4, 1891 Telegram-Herald Grand Rapids, MI
Article from Telegram-Herald, October 4, 1891

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Thursday night on the charge of embezzlement, entered bail Friday morning. Mr. Dill was at once rearrested on a warrant sworn out by National Bank Examiner Miller, who is in charge of the First national bank, and held in $25,000 bail. He has as yet been unable to secure bondsmen. The report that Mr. Dill has made an assignment is incorrect, but judgments aggregating $80,000 have been entered against him. Twenty-six thousand dollars of these judgments are held in trust for his wife. President Dill was arrested again Friday night, making the third time for the day. The last arrest was made on a warrant sworn out in Houtzdale, charging him with embezzling $85,000. He had just secured bail for the other charges, and the new suit created & panie among the bondsmen. He has not yet been able to secure another dollar of ball. When the news spread that Mr. Dill was arrested the trouble with the depositors broke out anew and the excitement is almost as great as when the banks first failed. It was generally thought that no arrests would be made, at least till later on, and the bank examiner, who is in charge of the Clearfield bank, and Receivers Byers and Dickey, of Houtzdale, were allowed to go quietly on with their work investigating the books of the bank, when they stumbled on accounts and entries which caused the arrest. The Huns and Slavs are still wild over their losses, and Friday night the late president was hung in effigy.

17. October 6, 1891 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, October 6, 1891

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ANOTHER BANK FAILURE. The Phillipsburg Bank Could Not Stand a Run Cansed by the Closing of Two Others. PHILLIPSBURG, PA., Oct. 5.-The Phillipsburg Bank closed its doors to-day, announcing that on account of the continued demand from the depositors, it was deemed best to suspend payment and go into liquidation. The cashier stated that he firmly believed all deposits would be paid in full. Phillipsburg is only a short distance from Clearfield and Houtzdale. Ever since the Clearfield bank closed and the the an institution Houtzdale bank has experienced failed, Phillipsburg unprecedented run. The miners and their friends first took alarm from reports from Houtzdale, and began an onon local their there slaught in line the and steadily bank, drawing gathering open deposits of $500 to $1,000 without aword of comment from either side. The bank stood this pressure easily and paid out thousands within the last three banking days. Then the heavy depositors took fright, and began a quiet checking of their balances which resulted in the announcement to-day. The president of the bank is Jonathan Boynton, fatherin-law of President Dill, of the Clearfield and Houtzdale banks. The effect of the suspension cannot now be estimated. Distrust is everywhere, and confidence nowhere. This being the center of coal interests in the region. a great amount of cash is required daily, and nn unprecedented stringency is now reported on every side. It is feared many private individuals and concerns will go down in the general crash that seems imminent here. The closing is only temporary. There is but little excitement, now that the first fear has quieted down, and even the Huns and are quiet all of the Slays the results to-night, present investigation awaiting into the affairs of the banks now closed.

18. October 9, 1891 Daily Tobacco Leaf-Chronicle Clarksville, TN
Article from Daily Tobacco Leaf-Chronicle, October 9, 1891

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Bank failures have become epidemic in Pennsylvania, the panic spreading from town to town. One goes down and carries another ; people become alarmed and the money stringency presses every one. Since the heavy failure in Philadelphia, Clearfield, Houtzdale and Phillipsburg banks have followed. Distrust prevails everywhere and depositors are drawing their money. This seems to be the situation in the most highly favored, protected, run-mad Republican State in the Union.

19. February 5, 1892 The World Martinsburg, WV
Article from The World, February 5, 1892

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DILL DISCHARGED The Clearfield Banker Escapes Further Prosecution. THE BANK IS HELD RESPONSIBLE. Judge Mayer Ordered , Verdict of "No Guilty, but Pay the Costs." Clearfield Depositors Despondent and Houtzdale Depositors Elated. CLEARFIELD, Pa., Feb. 5.-The trial of President Dill, of the First National bank of Clearfield and of the Houtzdale bank, came to a sudden ending yesterday. From the nature of the evidence Judge Mayer took the case from the jury and ruled that the First National bank was responsible for the amount of the draft, and that Dill could not be convicted in the light of the evidence adduced. The judge directed that a verdict of "not guilty, but pay the costs," be entered on the record, and Dill was discharged. Attorney Snyder then made a motion for Dill's discharge from answering the charges of embezzlement on the ground that two terms of court had elapsed and no bill of indictment had been found. The order asked for was granted, and Dill was discharged on all the commonwealth cases on the docket in this county. The depositors of the Clearfield First National bank are much exercised over Judge Mayer's rulings, while the Houtzdale depositors are much elated. The civil suit to recover the $80,000 by the Houtzdale bank receivers will be tried next week.