18841. National Bank (McKeesport, PA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
4625
Charter Number
4625
Start Date
July 7, 1913
Location
McKeesport, Pennsylvania (40.348, -79.864)

Metadata

Model
gpt-5-mini
Short Digest
0ce72774

Response Measures

None

Description

Newspaper articles (dated July 7–8, 1913) report the National Bank of McKeesport closed by order of the deputy comptroller because of impaired/deficient legal reserves; receivers were appointed. No run is described in the articles.

Events (3)

1. September 3, 1891 Chartered
Source
historical_nic
2. July 7, 1913 Receivership
Newspaper Excerpt
were forced into the hands of receivers today ... the closing of the First-Second National bank was ordered by the deputy comptroller of the currency on account of impaired reserves.
Source
newspapers
3. July 7, 1913 Suspension
Cause
Government Action
Cause Details
Deputy comptroller ordered the bank closed because its legal reserve was deficient / impaired reserves and it could not meet government reserve requirements.
Newspaper Excerpt
National Bank of McKeesport, Pa. closed its doors today.
Source
newspapers

Newspaper Articles (2)

Article from The Daily Sentinel, July 7, 1913

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Article Text

BANKSDOORS HEAVY LOSS ARE CLOSED OF LIFE IN BY THE U.S. BALKAN WAR Kuhn Company Goes Into Hands Bloody Battle Still Rages; Rouof Receiver; Big Financial manians Ready to Mobilize Failure in Pittsburg. Their Armies for Fray. Associated Press. Associated Press. Washington, July The First Vienna, July 7 -Eleven thousand National Bank of McKeesport, Pa officers and men of the Servian Ticlosed its doors today. mok division were killed in the batJ. S. Kuhn, brother of W. S. Kuhn, president of the closed First-Second tle with the Bulgarians, according National Bank of Pittsburg, is presito a dispatch to the Sofia corresponddent of the McKeesport bank. ent of the Reichspost. This division Oscar L. Telling, formerly an acconsisted of 15,000. Four thousand tive assistant of Lawrence O. Murray when he was comptroller of the curof the survivors were captured. rency, was president of the First NaAccording to other newspaper actional Bank of Pittsburg until the counts, 14,000 Bulgarians have consolidation. when he became vice reached the Servian town of Vranya president of the new bank. and are threatening the Servians' Secretary McAdoo was in long- disline of retreat. tance communication with John SkelThe mobilization of the Roumanian ton Williams, assistant secretary of army will be completed Thursday or the treasury, who is in Pittsburg, preFriday. The Roumanian troops are paratory to issuing a statement. Laexpected to cross the Danube into ter is was said that such an examinBulgaria immediately, thus forcing ation as the national officers had the Bulgarians either to agree to the been able to make indicated that oneRoumanian demands for territory or third of the bank's capital was imface a new enemy in the war. paired. Murray authorized the consolidaAssociated Press. tion of the banks. London, July 7.-The Servian minThe legal reserve of the First-Seeister here denies the defeat of the Tiond National Bank was deficient by mok division of the Servian army $2,145,000 on June 4, the date of the and says that yesterday it recaptured comptroller's last call. the town of Krivolak from the Bul-


Article from The Salt Lake Tribune, July 8, 1913

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Article Text

PITTSBURG BANK IN HANDS OF RECEIVERS Second National Closed Order of Comptroller of Currency on Account of Impaired Reserves. IED CONCERNS ALSO GO TO WALL ho Carey Act Projects of American Waterworks & Guaranty Company Involved. PTTBBURG, July 7.-The First-SecNational bank of Pittsburg, the National bank of McKeesport, a raboring city, the American Water75g and Guarantee company and the king house of J. S. and W. S. Kuhn, rporated, of this city, were forced the hands of receivers today, rough the failure of the first-named itation to open its doors this mornthe closing of the First-Second Nabank was ordered by the deputy uptroller of the currency, T. P. after every effort had been made meet the government requirements as legal reserve. Ise Kuhn banking house has exteninterests in irrigation projects toughout the west, and mines and et traction systems through western sylvania, besides being a dominant for in the American Waterworks and irantee company. th Dominant Factors. 8. Kuhn was president of the vice Second National bank, presiand director in the banking house, Tice president and director of the erican Waterworks and Guarantee pany, besides being a director of the eesport bank. 8. Kuhn was a director of the Second National bank, president director of the American Water the and Guarantee company, presiand director of the McKeesport and chairman of the board of tors of the banking house. hen it was learned that the banks have to suspend business steps taken to protect the American rworks and Guarantee company the Kuhns banking house, and aption was made in the federal court afternoon for receivers for both in tions. roughout the day a statement of banks and affected companies' af. was awaited with feverish nety, but none was forthcoming un tonight, when Mr. Kane made a statement.