18743. Irwin Bank (Irwin, PA)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
private
Start Date
December 1, 1891*
Location
Irwin, Pennsylvania (40.325, -79.701)

Metadata

Model
gpt-5-mini
Short Digest
bbd867dd

Response Measures

Full suspension

Other: Proprietors 'P. S. Pool & Son' made an assignment (assignment for creditors). Bank closed and failed to open; prior suspension mentioned as cause.

Description

Multiple contemporaneous dispatches (dated Dec 16, 1891) report heavy withdrawals in the prior week ($75,000–$100,000) and that P. S. Pool & Son made an assignment and the bank failed to open Dec 16. This indicates withdrawals/run preceded a suspension/assignment and the bank closed (no reopening reported). Articles describe it as a private institution (proprietors named).

Events (3)

1. December 1, 1891* Run
Cause
Bank Specific Adverse Info
Cause Details
Large withdrawals over the prior week following a previous suspension ('could not recover from the shock caused by the former suspension').
Measures
None reported (heavy withdrawals preceded the bank's failure to open).
Newspaper Excerpt
It is said that between $75,000 and $100,000 have been drawn out within the past week.
Source
newspapers
2. December 16, 1891 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Proprietors made an assignment; bank could not recover from shock of a former suspension and heavy recent withdrawals, leading to closure/assignment.
Newspaper Excerpt
The Irwin Bank ... closed at the usual hour yesterday, but failed to open this morning. P. S. Poole & Son, proprietors, have made an assignment.
Source
newspapers
3. * Other
Newspaper Excerpt
The Pools assert that every dollar of the deposits will be paid. The excitement is at fever height. / The Irwin bank ... has failed. Liabilities $10,000. (various reports).
Source
newspapers

Newspaper Articles (10)

Article from Evening Star, December 16, 1891

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Article Text

FAILED TO OPEN TODAY. Great Excitement at Irwin, Pa., Over the Suspension of the Bank. PITTSBURG, PA, Dec. 16.-A Chronicle-Telegraph Greenburg, Pa. special says: The Irwin Bank at Irwin, Pa., closed at the usual hour yesterday, but failed to open this morning. P. S. Poole & Son, proprietors, have made an assignment Mr. Poole says the bank could not recover from the about caused by the former suspension. It is said that between $75,000 and $100,000 have been drawn out within the past week. The Poolee claim that every dollar of the deposits will be paid The excitement is at fever height.


Article from The Roanoke Times, December 17, 1891

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Article Text

A BANK FAILURE. The Irwin Bank, of Irwin, Pa., Closes Its Doors-Will Pay Depositors. GREENSBURG, Pa., Dec. 16.-[Special] -The Irwin Bank, at Irwin, Pa., closed at the usual hour yesterday morning, but failed to open this morning. P.S. Poole & Son, proprietors, have made an assignment. Poole says the bank could not recover from the shock caused by the former suspension. It is said that between $75,000 and $100,000 have been drawn out within the past week. The Pooles assert that every dollar of the deposits will be paid. Excitement is at fever heat.


Article from The Morning Call, December 17, 1891

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Article Text

Condition of Insolvent Banks. PITTSBURG, Dec. 16.-A Greensburg (Pa.) special says: The Irwin Bank at Irwin. Pa., failed to open this morning. Pool & Son, proprietors, made an assignment. They say the bank could not recover from the shock caused by the former suspension. It is said between $75,000 and $100,000 was drawn out within the past week. The Pools assert that every dollar of deposits will be paid. COLUMBIA (Tenn.), Dec. 16.-The Creditors' Committee of the Bank of Columbia and the Columbia Banking Company, now insolvent, reported this morning that the banks will pay 60 or 70 cents on the dollar certain, with the probability of more.


Article from The Morning News, December 17, 1891

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Article Text

BANK DOORS SHUT. A Private Institution at Irwin, Pa., Goes to the Wall. PITTSBURG, PA., Deo. 16.-A special to the Chroniole-Telegraph from Greensburg, Pa., says: "The Irwin Bank at Irwin, Pa., closed at the usual hour yesterday, but failed to open this morning. P.S. Poole & Son, the proprietors, have made an assignment. Mr. Poole says the bank could not recover from the shock caused by the former suspension. It is said that between $75,000 and $100,000 have been!@drawn out within the past week. The Pooles assert that every dollar of the deposits will be paid. The excitement is at fever heat." R. H. Erwin an E. T., V. and G. Director. KNOXVILLE, TENN., Dec. 16.-At the East Tennessee, Virginia and Georgia railroad election here to-day all of the old direotore were elected except that R. H. Erwin of Savannah was elected to fill Mr. Hall's place.


Article from The Evening Herald, December 17, 1891

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Article Text

CLOSED ITS DOORS. The Irwin, Pa., Bank Suspends-Exeite- ment At Fever Heat. Greensburg, Fa., Dec 17.-The Irwin Bank at Irwin, Pa., has closed its doors. P.S. Pool & Son, proprietors, have made an assignment. Mr. Pool says, the bank could not recover from the shock caused by the former suspension. It is said that between $75,000 and $100,000 have been drawn out within the past week. The Pools claim that every dollar of the deposits will be paid. The excitement is at fever height.


Article from The Salt Lake Herald, December 17, 1891

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Article Text

The IrwIn Bank, Irwin, Pa, Suspends. PITTSBURG, Dec. 16.-A Greensburg, Pa., special says: The Irwin bank, at Irwin, Pa.. failed to open this morning. Pool and son, proprietors, have made an assignment. They say the bank could not recover from the shock caused by the former suspension. It is said between $75,000 and $100,000 was drawn out within the past week. The Pools claim every dollar of deposits will be paid.


Article from Delaware Gazette and State Journal, December 17, 1891

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Article Text

THE IRWIN BANK BROKE. The Institution Uuable to Recover Its Former Blow Goes to the Wall. Associated Press Dispatch by Special Wires. PITTSBURG, PA., Dec. 16.-A ChronicleTelegraph, Greensburg, Pa., special says: The Irwin Bank, at Irwin, Pa., closed at the usual hour yesterday, but failed to open this morning. P. S. Pool & Son, proprietors, have made an assignment. Mr. Pool says the bank could not recover from the shock caused by the former suspension. It is said that between $75,000 and $100,000 have been drawn out within the past week. The Pools claim that every dollar of the deposits will be paid. The excitement is at fever heat.


Article from The Enterprise, December 23, 1891

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Article Text

-od the tea se and uo rested lice have no clew to the real robbers. THE Irwin bank at Irwin. Pa.. failed to open its doors on the 16th. P. S. Pool -se uu греш have 'uog z signment. The Pools claim that every dollar of the deposits will be paid. AT Columbia, S. C., on the 16th. J. E. Ford, a painter, upset a kerosene lamp while his wife,son and daughter were in the same room. The clothing of each person caught fire and the mother and daughter died from the burns and the air IIIM uos pas POSTMASTER GENERAL WANAMAKER has offered a reward of $500 for the capture or information leading to the capture of each of the men who took part in the robbery of the mail wagon in Chicago on the night of the 16th. WHILE hunting near Hawley, Pa., on the 17th Will Cornish accidentally shot and killed his companion, John Myers. Cornish's gun caught in some bushes and exploded; Mvers. who was walking ahead, received the charge in his back. THE steamer Havana, with an excurSEAL board uo suossed 450 JO party sion run into and badly wrecked off Coney Island on the 17th by the four-masted schooner. Mary A. Randall. No lives were lost, though a number of passengers were severely injured. THE ravages of the grip in Philadelphia have been particularly severe at the home for aged women. Out of 100 inmates, thirty are prostrated with the disease, ten have died within the past OW Elizabeth 4721 the uo pue days events Caw, aged 81 years, while crazed with the malady cut her throat, dying short& EDWARD MULDOONEY and Hugh Reilly, miners, were killed by a fall of roof rock in the Manville colliery at Scranton, Pa., on the 17th. THE third national convention of the American Sabbath Union closed at Des Moines, Ia., on the 17th. The principal question considered has been the Sunday closing of the world's fair. Col. Elliott F. Shepard, of New York, presided at all the sessions and was reelected president. THE convention of the American Federation of Labor, at its session on the 17th, passed resolutions in favor of the re-establishment of a republican form of government in the District of Columbia; governmental control of the telegraphs and protesting against the action of the Chicago police in breaking meeting. public B dn THE comptroller of the currency has per of JO pueplaip B male of cent. to claimants of the insolvent Maverick National bank of Boston, Mass. DR. F. W. WHITNEY, manager of the Equitable Building and Loan Association of New York, was arrested at Bos405 $5.000 JO chaim e uo 4721 the uo not up by Dr. Gould, receiver of the Golden Circle. THEO. DOERFLINGER, ex-treasurer of the Dexter Spring Company, the Franklin school board and the Modern Building and Loan Association, was sen07 4721 the uo 18 tenecd eight years in the penitentiary on three indictments of embezzlement. the no Ind puers the JO report THE recent Main street fires at Louisville, Ky., in which twelve persons lost their lives, exonerates all from blame, but recommends changes in the building law so as to secure thicker walls; to prevent the accumulation of fireworks except in ere e e.moes of drill where large numbers of persons are collected in one building; to require 04 euo 04 Ausdunos sed the more suB the No anys pus serve attend quilding THREE persons were killed outright, one mortally wounded and several B Jo exploising the 4q pern[u] others to Collett 'V JO sawaii the up boller IIIᵐ eqL 1234 the no 'puI was completely wrecked. THE ladies of Denver, Col., having the free kindergarten in charge held a doll fair last week from which a net realized SEM 000'018 jo aunome Two murders were committed in Chi14210 Booher's uqof 1734 the uo ozen watchman for Schneidewind & Lee, type founders, was found dead with his throat cut from ear to ear, and all the evidences of a desperate struggle. The other murder was that of Thomas Porter, who was shot and killed in a saloon by William Ray, who escaped. WILMINGTON, N. C., is greatly excited over the arrest of John C. Davis, promJO charge B uo chunch up them obtaining $100, 000 under false pretenses. spuny church SEAL Денот equal to Manh Widows, orphans and laborers suffered spruq and to A PASSENGER train on the Southern Kansas railroad was wrecked near Cherryvale, Kan, on the 17th by the displacement of a rail. The cars were thrown down a high embankment and immediately took fire and were entirely ФЛЭМ persons injured, three fatally. JOHN L. FERGUSON was arrested at Kansas City on the 17th, charged with embezzling $20,000 from the National bank of Kansas City, where he had been employed for about eight years as bookkeeper. He confessed his guilt.


Article from Iuka Reporter, December 24, 1891

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ALL OVER THE WORLD. Pittsburgh, Pa., has had a $150,000 fire. Twelve business houses were burned at Vermillion, Ohio. W. E. Fitzgerald, the Youngstown, Ohio, murderer has been executed. Senator Quay says he is not now a candidate for re-election to the Senate. John P. Richardson, a millionaire merchant and planter of essippi, is dead. Indianapolis is full of bloo ball men attending the American Association meeting. The Glendale woolen mill at Burrellville, R.I., was burned. Loss $85,000; insurance $30,000. The Irwin bank at Irwin, Pa., P.S. Pore & Son proprietors, has failed. Liabilities $10,000. At Ithica, N. Y., J. L. Williams, a student at Cornell University, suicided by hanging himself. Davill, the famous Irish was leader, Michael seriously wounded during a riot at Waterford City. The two insolvent banks of Columbia, Tenn., it is thought, will be able to pay 60 cents on the dollar, W. E. Merrill, United States engineer in charge of the Ohio river, dropped dead on a train in Illinois. Turner & Frank, of Philadelphia, manufacturers of Jersey goods have assigned. The judgements aggregate $50,000. A Chicago concern has bought 25,000 acres of timber land in southern Oregon and will erect big mills and build a railroad. In Kansas City John L. Ferguson was to for sent jail embezzling $20,000 from the National bank of Kansas City, for which he worked. Stephen B. Elkins, of West Virginia, has been appointed Secretary succeed of War by President Harrison, to Redfield Proctor, resigned. Mrs. Bertha Welgandt, of New Orleans, suicided by setting herself on fire and then shooting herself twice. She was demented. The citizens af Baltimore at a meet ing resolved to ask the Legislature for an appropriation of $100,000 for a Maryland exhibit at the World's Fair. The general agents have Alton passenger boycott by issuing killed the an order that one road give another as much business as it gets from the first. Secretary Blaine has announced the conclusion of a commercial reciprocity States and agreement all the between British West the Indian United islands and British Guiana. Advices from St. Petersburg say influenza has assumed alarming forms there. Patients become mad and rush violent and paroxysms, wildly through then the have streets high in fever utter prostration, often followed by death. In other cases there are typhoid developments. In Bossier Parish. Louisiana, George who his Patterson, wife and another the negro negro, killed and afterward shot J. B. Lay and Dave Wallace, the latter member elect of the Legislature, was run down by a posse and so closely pnrsued that he blew his own brains out with a pistol. Wallace died. Lay will recover. The government of Mexico fears the to of villages adjacent the volcano Calima will share the fate of Pompell and has ordered the villagers to abanlon their homes and move to places of safety. The volcano now great volumes of lava, is ashes vomiting and smoke, and the country for miles round is illuminated by a grand dieplay. DESERTED BY HER HUSBAND.


Article from Eagle River Review, December 24, 1891

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BANK'S DOORS CLOSED. A Depository at Irwin, Pa., in Serious Financial Trouble. GREENSBURG, Pa., Dec. 16.-The Irwin Bank, at Irwin, Pa., closed at the usual hour yesterday, but failed to open this morning. P. S. Pool & Son, proprietors, have made an assignment. Mr. Pool says the bank could not recover from the shock caused by the former suspension. It is said that between $75,000 and $100,000 have been drawn out within the past week. The Pools claim that every dollar of the deposits will be paid. The excitement is at fever heat.