American National Bank - Pittsburg, PA

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 7581
Charter Number: 7581
Start Date: October 29, 1907
Location: Pittsburg, Pennsylvania (40.441, -79.996)

Metadata

Model: gpt-5-mini
Short Digest: dae80fc7

Response Measures

None

Description

Single article (Oct 29, 1907) reports a run driven by a rumor that bank officers had left the city; the rumor was denied and the bank declared solvent. No suspension, reopening, or receivership mentioned.

Events (3)

1. January 28, 1905 Chartered

Source: historical_nic

2. October 29, 1907 Run

Cause: Rumor Or Misinformation
Cause Details: Depositors frightened by report that the bank's officers had left the city; report denied and bank declared solvent.
Random Run: Yes
Random Run Snippet: Report that officers had left city; report denied, bank solvent
Newspaper Excerpt: Run on Pittsburg Bank. Pittsburg, Pa., Oct. 29.-A run started shortly before noon on the American National Bank, a small concern, whose-depositors are mostly foreigners. The depositors had been frightened at the report that the bank's officers had left the city. This is denied and the bank is declared solvent.
Source: newspapers

3. November 23, 1908 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. October 30, 1907 The Roswell Daily Record Roswell, NM

Article from The Roswell Daily Record, October 30, 1907

Click image to open full size in new tab

Article Text

New York, Oct. 30.-Banking conditions appear normal in this city today. The situation is so well in hand that no further conferences of bankers are anticipated. Bankers think the clearing house certificate plan is working out smoothly and rapidly bringing about normal conditions. Not in a score of years has Wall street experienced such a flood of buying orders in lots for transfer to purchasers. The majority of these orders come for small blocks of five to fifty shares, and there were frequent sales of one or two shares recorded. S. J. Wellman, of J. S. Bache & Co., brokers, said today that such sales by that firm amount to between $500,000 and $750,000, and that orders are coming from all parts of the country. People are buying stocks for investment in small lots and paying cash for them, said Wellman. This is bringing thousands of dollars cash to the market and is assisting materially in relieving the situation. Run on Pittsburg Bank. Pittsburg, Pa., Oct. 29.-A run started shortly before noon on the American National Bank, a small concern, whose-depositors are mostly foreigners. The depositors had been frightened at the report that the bank's officers had left the city. This is denied and the bank is declared solvent. Effects Price of Produce. t Chicago, Oct. 30.-Jobbers, wholesalers and retailers of meat, eggs and other food products agree that the present disturbance of financial conditions may bring about a general and substantial reduction in the cost of living. Eggs and butter are largely lower than before the disturbance. ( Banks Take a Holiday. Olympia, Wash., Oct. 30.-Governor Mead has declared legal holidays for the remainder of this week, principally for the protection of country banks whose requests for money have been denied by banks in clearing house g cities.