Allegheny National Bank - Pittsburg, PA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 722
Charter Number: 722
Start Date: October 19, 1905
Location: Pittsburg, Pennsylvania (40.441, -79.996)

Metadata

Model: gpt-5-mini
Short Digest: c3a84f92

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1908-05-18
Date receivership terminated: 1917-01-22
OCC cause of failure: Fraud
Share of assets assessed as good: 45.7%
Share of assets assessed as doubtful: 41.0%
Share of assets assessed as worthless: 13.3%

Description

OCR-heavy article (many errors) from Waterbury Evening Democrat, 1905-10-19. Text reports the Allegheny National Bank 'doors closed', bank examiner activity, appointment of a receiver and mention of possible suicide of cashier and investigation of affairs. No explicit description of a depositor run is given in the clipping; the event appears to be a suspension/closing with receivership tied to bank-specific adverse developments. Corrected spelling of Pittsburgh as 'Pittsburg' per provided bank information.

Events (4)

1. January 16, 1865 Chartered

Source: historical_nic

2. October 19, 1905 Receivership

Newspaper Excerpt: B. Cunning- ham, WAS appointed pending his clerical force, unray the bank's extent tution sisted by in large an effort to embar missment. the The following of the the and closing tragedy as they have do the names in who active been citizens of Clark. Cashier fornished ... WAS appointed ... receiver ... bank examiner ... closing tragedy ... cashier ... appointed receiver
Source: newspapers

3. October 19, 1905 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Article describes bank doors closed, examiner investigation, mention of cashier's suicide and appointments related to the bank's affairs — indicating internal adverse events affecting solvency or management conduct.
Newspaper Excerpt: There in be The not any truth possibly at was of not the port Har deposit. nor and Tuesday Wednesday. it is any one would have risburnniikely a first made without deposit consulting me. invest:Pittsburg. the Pa., affairs Beaver of the avenue, of which Alwere leghenclosed of the the National gation of bank Pa.. of the doors closed
Source: newspapers

4. May 18, 1908 Receivership

Source: historical_nic

Newspaper Articles (1)

1. October 19, 1905 Waterbury Evening Democrat Waterbury, CT

Article from Waterbury Evening Democrat, October 19, 1905

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Article Text

PENROSE NOT IN IT Does Not Owe Enterprise Bank. it Had Know Didn't Failed How Much Known -Not McneyPennsylvania What Loses the Failure Treasurer by Piathues 19-Senator Says. Pa., last Oct. night how En- he ! Philadelphing was failure of Allegheny. the accounted Penrose National for the bank in about it,' ne it terprise know anything even know "I do not "I did not that bank a I its answered. I don't owe a thing about dollar. had failed. bank don't know failure." was asked 'iad that Governor Pennypacker if any, the failure. state how much money lose by the about it,' anunder a don't chance know to governor. anything jurisdiction "That matter and is er." entirely swered the the within control the of the state treasurThe exact Pa., Oct. carried 19-T on bank deof Harrisburg, money National doors Allegheny. will probably yesterday, until State amount posit in the Enterprotect which not its be known comes Treasurer Mathues to He expected the day during the treasand reach to the Pierce, return of this after- Lie ury, T. Stewart is expected Wilmington, to Del., statement. in Assistant of the charge to may noon probables from give out Dewey, in who the fur absuperiors department to the discuss was deposited sence the of his information or state money bank last of report nish that in $50,000 the Enterprise banking no Enterprise Deputy he Morrison Tuesday. The state supervision department over Commissioner knew at nothing whatever he that was and fairs positive has National bank. said to-day about that the bank's Cour no infor give could missioner is at The Sonimation. not his Becommissioner office expected erset before and to morrow. is to 19-4 dispatch says: New York, Oct. Media, Pa., said that last night of $50,000 the Herald Treasurer from Mathues to report been dein Tuesday posited of bank State in refernce state funds the had Enterprise which National Allegheny its can doors closed There in be The not any truth possibly at was of not the port Har deposit. nor and Tuesday Wednesday. it is any one would have risburnniikely a first made without deposit consulting me. invest:Pittsburg. the Pa., affairs Beaver of the avenue, of which Alwere leghenclosed of the the National gation of bank Pa.. of the doors afternoon fol- by City, yesterday currency. of suicide comptrolational is making and the progress. of early to-day hours bank examiner. low Lee Clark, the Far the last night B. Cunning- who national of the instireceiver labor ed steadily of the ham, WAS appointed pending his clerical force, unray the bank's extent tution sisted by in large an effort to embar missment. the The following of the the and closing tragedy as they have do the names in who active been citizens of Clark. Cashier fornished to of the float funds most the and Fe Sante Central Railway Pennsylv in State which former and and Arthur Renneds Andrews indeeply Francis Torrance Clark Cashier together Perested are lied For two ones The is projects mer Senator Kennedy the Devem H. Andrews the dent of Senator railway heavily in his C. W. man, idential Mr both tary former President Francis of J. both Terrance Hagan and is Clark of the cashier Enterpr of both of the was as held security