19196. Stahl & Straub (Philadelphia, PA)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
private
Start Date
November 24, 1899
Location
Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model
gpt-5-mini
Short Digest
a94f53d1

Response Measures

None

Description

Multiple newspapers report Stahl & Straub (bankers and brokers) were forced to suspend on Nov 24, 1899 because of a demand for a large call loan and inability to obtain loans on collateral. Reports describe the suspension as likely temporary and say obligations may be settled in a few days; no articles report a receivership or permanent closure.

Events (1)

1. November 24, 1899 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Forced to suspend because of a demand for a large call loan and inability to secure loans on collateral; street rumors about liabilities amplified the trouble.
Newspaper Excerpt
The firm of Stahl & Straub, bankers and brokers, 507 Chestnut street, was forced to suspend business today as a result, it is said, of a demand for a large call loan.
Source
newspapers

Newspaper Articles (10)

Article from The Topeka State Journal, November 24, 1899

Click image to open full size in new tab

Article Text

DEMAND FOR CALL LOAN Forces a Philadelphia Firm to Suspend. Philadelphia, Nov. 24.-The firm of Stahl & Straub, bankers and brokers, 507 Chestnut street, was forced to suspend business today as a result, it is said. of a demand for a large call loan. Mr. Straub had no statement to make except that he believed the suspension would only be temporary. Mr. Stahl is in New York, it is stated, endeavoring to raise money to meet the demand on the firm. Street rumors of the firm's liabilities place the amount all the way from $100,000 to $1,000,000,


Article from New-York Tribune, November 25, 1899

Click image to open full size in new tab

Article Text

PHILADELPHIA BANKING FIRM SUSPENDS. Philadelphia, Nov. 24.-The firm of Stahl & Straub, bankers and brokers, at No. 507 Chestnut-st., was forced to suspend business to-day as a result, It is said, of a demand for a large call loan. Mr. Straub had no statement to make, except that he believed the suspension would be only temporary. Mr. Stahl is in New-York, it is stated, endeavoring to raise money to meet the demand on the firm. Street rumors of the firm's liabilities place the amount all the way from $100,000 to $1,000,000.


Article from The Indianapolis Journal, November 25, 1899

Click image to open full size in new tab

Article Text

Philadelphia Bankers Suspend. PHILADELPHIA, Nov. 24.-The firm of Stahl & Straub, bankers and brokers, No. 507 Chestnut street, was forced to suspend business to-day as a result, it is said, of a demand for a large call loan. Mr. Straub had no statement to make, except that he believed the suspension would be only temporary. Mr. Stahl is in New York, it is stated, endeavoring to raise money to meet the demand on the firm. Street rumors on the firm's liabilities place the amount all the way from $100,000 to $1,000,000.


Article from The Worcester Spy, November 25, 1899

Click image to open full size in new tab

Article Text

TELEGRAPHIC BRIEFS. Philadelphia, Nov. 24. - The firm of Stahl & Straub. bankers and brokers, 507 Chestnut street, was forced to suspend busiess today as a result, it is said, of a dęmand for a large call loan. Mr. Straub had no statement to make, except that he believed the suspension would only be temporary. Albany, Nov. 24.-The Rochester Telephone Company, with a capital of $400,000,was incorporated today with the secretary of state. The general route of the company, besides operating in Rochester, will connect with Syracuse, Utica, Chicago. Oswego, Watertown, Ogdensburg, Buffalo, Niagara Falls, Mayville, Corning, Elmira and Binghamton. New York, Nov. 24.-Carvello Grancianto, an Italian under indictment for having shot and killed a fellow-countryman in Astoria, L. I., a short time ago died of heart failure this afternoon in the Queens county jail, Long Island City. Detroit, Mich., Nov. 24. - George W. Brooks shot his divorced wife three times today at her home, 221 Sherman street. He then shot himself dead. The woman will recover, although wounded in the neck, shoulder and body. Rio de Janeiro, Nov. 24.-Brazil has rejected the plan of tariffs proposed by Italy and France, and demands a considerable reduction in the duty on imports of coffee. which are considered prohibitive. Peru has protested against the protocol signed by Bolivia and Brazil, fixing the limits of the territory in dispute. Peru claims a great part of that territory near Acre which is claimed by all three countries. Darlington, S. C., Nov. 24.-Ed Luckey and Tom Mitchell were hanged here today for assault on Josephine Lafferty, a young white woman. This was the first instance of execution in this state for criminal assault. Austin. Tex., Nov. 24.-James Davidson was hanged today for the murder of Geo. W. Engbyrn and his wife at Manor, Tex., last June. Davidson confessed on the scaffold. Detroit. Mich., Nov. 24.-The attorney for the street railway association advises the men that they have no proper basis for going out under the agreement with the companies.


Article from The Sun, November 25, 1899

Click image to open full size in new tab

Article Text

Philadelphia Bankers Assign. PHILADELPHIA. Nov. 24.-The firm of Stahl & Straub, bankers and brokers. 507 Chestnut street. was forced to suspend business to-day owning to their inability to secure loaps on some of the collateral they have been earrying. The suspension was not reported officially to the Stock Exchange and there was no sale of the firm's securities under the rule. It is said the r obligations do not exceed $100,000 and that they will he able to settle satisfactorily in a few days. The firm has been in business about twenty years.


Article from The Salt Lake Herald, November 25, 1899

Click image to open full size in new tab

Article Text

Banking Firm Fails. Philadelphia, Nov. 24.-The firm of Stahl & Straub, bankers and brokers, 507 Chestnut street, was forced to suspend business today, as a result, it is said, as a demand for a large call loan. Mr. Straub had no statement to make/ except that he believed the suspension would only be temporary. Mr. Stahl is in New York, it is stated, endeavoring to raise money to meet the demand on the firm. Street rumors of the firm's liabilities place the amount all the way from $100,000 to $1,000,000.


Article from Omaha Daily Bee, November 25, 1899

Click image to open full size in new tab

Article Text

FAILURE OF BANKING FIRM Philadelphia Concern Suspends and Rumors Place Liabilities All the Way to a Million. PHILADELPHIA, Nov. 24.-The firm of Stahl & Straub, bankers and brokers, 507 Chestnut street, was forced to suspend business today as a result, it is said, of a demand for a large call loan. Mr. Straub had no statement to make except that he believed the suspension would only be temporary. Mr. Stahl is in New York, it is stated, endeavoring to raise money to meet the demand on the firm. Street rumors of the firm's liabilities place the amount all the way from $100,000 to $1,000,000.


Article from The Seattle Post-Intelligencer, November 25, 1899

Click image to open full size in new tab

Article Text

CONDENSED DISPATCHES. T. J. Walsh. counsel for Ruby J. Britt, of Helena, Mont., has received & message stating that his client has come into an estate of $30,000 or more from her father, who died in Iowa about a year ago. Andrew Carnegie's offer of $25,000 for a public library building at Tucson, Ariz. has been accepted, the city council voting at site on the military plaza and $2,000 per annum for the maintenance of the library. The banking and brokerage firm of Stahl & Straub, of Philadelphia, has been forced to suspend business. as a result. it is said, of demand for & large call demand. Rumors place their liabilities all the way from $100,000 to $1,000,000. The war department has requested that twelve more army secretaries of the Y. M. C. A. be sent with the troops to Manila. Miss Helen Gould, of New York, has contributed the larger portion of the money for the maintenance of this special work. W. S. Chamberlain, a broker, of New York, has filed a petition in bankruptcy, with liabilities of $26,000 and assets consisting of forty acres of land near Duluth, put down as of no value, and ten shares of stock in the Uncle Sam Mining and Development Company. of the state of Washington, value $3. The will of the late Charles Murphy has been presented for probate by his widow. The value of the real estate and personal property is small, but a claim of $100,000 against the United States government for work done in excarating for the Mare Island stone dock is included, and the widow is asked to press the matter to a final settlement. The Methodist church congress will open its sessions at the Lindell Avenue church, St. Louis, next Sunday, November 25, and will continue until December 1. An unusual array of talent has been secured to address the congress during the day, and beginning with Monday evening there will be a special lecture each evening. The opening evening lecture will be given by Bishop Vincent. John Tates, a waiter in a restaurant at Chicago, was stabbed fatally with an umbrella. A customer got into a dispute with Tates over the price of a meal. and they came to blows. The customer raised his umbrella to protect himself. Tates rushed forward, and the customer jabbed it into his breast. The sharp-pointed steel penetrated the waiter's lung. The man was arrested. Tates is at the county hospital, where it is said he will die. Haffis Azar, a Syrian by birth, but a naturalized citizen of the United States, arrived in this country a few days ago to look after a suit for $100,000 damages to health and property which he says he suffered at the hands of the Spanish in Porto Rico. He had A jowelry store in the town of Mayaguez, On April 4, he says, he was arrested by Lieut. Morales as a spy. All his property, consisting of a jewelry store and gems valued at many thousands of dollars, was carried away. Secretary Long. in an interview, says that the orders given Admiral Schley in connection with the sailing of the South Atlantic squadron were not unusual, and that the department had no intention of ignoring the wishes of the admiral, but he had been led to add the final paragraph directing Schley to remain away from South Africa because be had decided, after consulting with the state department, that it would be unwise to order any ships to South Africa on account of the probability that their presence might be misconstrued. It is not at all certain, according to the secretary, that the admiral may not be ordered to South Africa, this being dependent on the situation.


Article from Bryan Morning Eagle, November 26, 1899

Click image to open full size in new tab

Article Text

Philadelphia Firm Fails. Philadelphi, Nov. 25.-The firm of Stahl & Straub, bankers and brokers here, was forced to suspend business as a result, it is said, of a demand for a large call loan. Street rumors of the firm's liabilities place the amount all the way from $100,000 to $1,000,000.


Article from Republican News Item, November 30, 1899

Click image to open full size in new tab

Article Text

IIIL GENERAL IN A Summarv of Happenings at Home and Abroad. THE NEWS CONDENSED A Review of What Has Transpired of Public nterest. Cape Town, Nov. 25.-Gen. Buller, the Commander-in-Chief of the British forces, has gone to Natal. He is expected to return here shortly. Ashtabula, Ohio, Nov. 25.-Miss Vernie Smith dropped dead Thursday night in the presence of a young man to whom she was soon to have been married. Lagrange, Ky., Nov. 25.-J. N. Leet Thursday afternoon started hunting, when his gun was accidentally discharged. The entire load of shot hit his daughter in the temple, killing her instantly. She was 19 years of age. Indianapolis, Ind., Nov. 25.-Jennie Bennett, the female highwayman, who robbed Lemon Brewer shortly after she reached this city from Cincinnati, has been found guilty in the Criminal Court, and she was committed under the inderterminate-sentance law to the female reformatory. Louisville, Ky., Nov. 25.-The Election Board has certified the returns on Jefferson County and referred the contest of the Goebelites to the State Board of Election Commissioners. This gives Taylor a plurality of 2,321 in the entire State, and the State Board will be forced by law and precedent to issue Taylor his certificate. Chicago, Nov. 25.-Wealthy William R. Burdick, formerly owner of the Burdick House, and his adopted daughter, Bertha Killeen, have just announced that they were married on October 29. Burdick is sixty-four years old. His bride is twenty-four. She was adopted by Burdick and his first wife when she was eight years old. San Francisco, Nov. 27.-Resolutions of sympathy with the Boers has been adopted by a mass meeting in this city. The attendance was large and much enthusiasm was manifested. San Francisco, Nov. 27.-Twelve more army secretaries of the Young Men's Christian Association will shortly be sent with the troops to Manila. Miss Helen M. Gould, of New York, has contributed the larger part of the money for the maintenance of this special work. Williamsport, Pa., Nov. 27.-William Hummel, the murderer of his wife and three step-children has been arrested by Constable Meyers and a posse near Allenwood. Threats of lynching him when he is brought to jail here are being made, and his life is regarded as being in danger. Elkton, Md., Nov. 27.-Rhoda Jackson, the only daughter of a leading citizen, has been murdered by Cyrus W. White, a jealous lover. White had attempted to force his attentions upon Miss Jackson, but they were not favorably received. He met her in the highway and, seizing her by the arm, sent three bullets into her head. Buffalo, N. Y., Nov. 27.-The Republican executive committee has indorsed unanimously George Clinton for the appointment of justice of the Supreme Court, to take the place of Justice White, recently elected Supreme Court justice of the Eighth Judicial District. The name of William H. Hotchkiss, referee in bankruptcy, is to be presented by his friends. San Francisco, Cal., Nov. 27.-The United States transport Sherman has arrived, after a quick trip, of only twenty-five days, from Manila. Eighteen cabin passengers and 194 discharged and ill men were on board. These eight men died on the voyage: Walter H. Guthrie, Twelfth infantry; Peter Dougherty, Thirteenth infantry; William Rainshaw, James F. McClanahan, James C. Harrington, Joseph B. Quinn, William L. Denwart and John Burnes. McClanahan died after the vessel passed into this harbor. The bodies of those who died on the voyage were brought to this city. Philadelphia, Pa., Nov. 28.-The firm of Stahl & Straub, bankers and brokers, No. 507 Chestnut street, have been forced to suspend business as a result, it is said, of a demand for a large call loan. Mr. Straub had no statement to make except that he believed the suspension would only be temporary. Mr. Stahl is in New York, it is stated, endeavoring to raise money to meet the demand on the firm. Street rumors of the firm's liabilities place the amount all the way from $100,000 to $1,000,000. Sacramento, Cal., Nov. 28.-The cause of Patrick Harrington's insanity is said to be that he took the "Curley Bear degree" in the Order of Native Sons of California. He is in an asylum now. The degree is not sanctioned by the Grand Lodge and can only be taken at certain places. Harrington was strong