19267. Central Bank (Pittsburg, PA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
February 19, 1894
Location
Pittsburg, Pennsylvania (40.441, -79.996)

Metadata

Model
gpt-5-mini
Short Digest
9ada5e6c

Response Measures

None

Description

Multiple papers (Feb 19-20, 1894) report the Central Bank of Pittsburg arranged to pay off depositors and 'suspend business' and 'go into liquidation' voluntarily. No run is described. The action appears to be a voluntary suspension followed by liquidation/closure rather than a suspension caused by panic. Historical spelling 'Pittsburg' retained.

Events (2)
1. February 19, 1894 Suspension
Cause
Voluntary Liquidation
Cause Details
Bank arranged to pay off all depositors and suspend business voluntarily; business not profitable rather than embarrassed.
Newspaper Excerpt
Pittsburg, Pa., Feb. 19.-The Central Bank of Pittsburg arranged to-day to pay off all its depositors and suspend business, The bank is not embarrassed, but its decision was reached after arrangements had been made to pay depositors dollar for dollar.
Source
newspapers
2. February 20, 1894 Other
Newspaper Excerpt
The Central Bank of Pittsburg has arranged to go into liquidation, and has notified its customers and depositors to call at the bank on Wednesday of this week and be paid in full.
Source
newspapers

Newspaper Articles (6)
1. February 20, 1894 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, February 20, 1894

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Article Text

TEL EGRAPHIC BREVITIES. "Bill Nye" is rapidly reçovering from his recent attack of illness. Frank Kobel, an alleged anarchist, is under arrest for threatening to blow up the courthouse at Pittsburg. At Sayre, Pa., Sunday, Ed Fallinger objected to the use of the word "scab." During the row that followed he shot and killed Harry Hoss. Fallinger is under arrest. The Afton Bank and Citizens' Bank, of Afton, Ia., were burglarized Sunday night. The only plunder secured was $1,000 worth of postage stamps, taken from the Afton Bank. The million-dollar hotel at Middlesboro, Ky., constructed there, a few years since, in the palmy days of the "Magic City," is advertised by the receiver for sale on March 12. The tablet of the new Pythian Temple at Grand Rapids, Mich., was laid yesterday. The new temple is to be a seven-story structure of stone and pressed brick. It will cost about $100,000. The Central Bank of Pittsburg has arranged to go into liquidation, and has notified its customers and depositors to call at the bank on Wednesday of this week and be paid in full. The temporary State Pythian Home at Springfield, O., was formally dedicated yesterday by Grand Chancellor H. W. Lewis, of Dayton, and staff. The home proper will be built in the spring. Dr. M. B. Davis, whose death occurred at Rosseau, Morgan county, Ohio, Thursday evening, left a letter showing that he had forged notes for large sums and committed suicide to escape the penitentiary. The only bill so far passed at the extra session of the Colorado Legislature and approved by the Governor is one transferring to the legislative cash fund the unexpended revenues of 1891 and various other amounts. There is much excitement in Ankenytown, O., over the discovery that grave robbers have carried away the body of Michael Miller, who died several weeks ago, from a peculiar stomach disease, which bafiled medical skill. The J. I. Case threshing machine works, at Racine, Wis., which have been closed five months, started up to-day with a full force of six hundred men. Enough orders have been received to keep the works in operation for several months.

2. February 20, 1894 The Scranton Tribune Scranton, PA
Article from The Scranton Tribune, February 20, 1894

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Article Text

ALL THROUGH THE STATE. The Simpson Methodist church at Erie, costing $22,000. has been dedicated. Berks county commissioners now demand an itemized bill of costs in all court cases. Chambersburg people feel hopeful now of securing the payment of the border raid claims. George Freeman, of Philadelphia, has leased the Neversink Mountain hotel at Reading for five years. The Hampden, Fire company, of Reading, on Saturday distributed three tons of provisions among the poor. Governor Pattison and ex-Congressman Vaux, of Philadelphia, will be guests of the Reading Masons at a banquet next Wednesday. The boroughs of Mansfield and Chartiers, Allegheny county, will vote on consolidation, and the enlarged town will likely be called Carnegie. Over 5,000 claims resulting from the border raids during the late war are on file in the attorney general's department at Harrisburg. Joseph Woodburn, an extensive cattle dealer of Newville, and well known throughout the state, today failed, his liabilities were estimated at $26,000. Every department of the extensive plant of the Pottstown Iron company will be closed down during the present week. The date of resumption is very uncertain. The Central bank of Pittsburg has arranged to pay off all its depositors and suspend business. The bank is not embarrassed, but its business has not been profitable. The Phenix Preserving company, cap. ital $50,000, and the Easton Washboard and Manufacturing company, capital $30, 000, both Philadelphia corporations, were granted charters at the state department. John Faja, a Russian, at Hazleton, was attacked last night by highwaymen while going to his home at Pleasant Hill. Being unable to secure money his assailants beat him into insensibility with clubs, He cannot live.

3. February 20, 1894 The Times Richmond, VA
Article from The Times, February 20, 1894

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Telegraphic Brevities, Mr. Sherman, In the Senate yesterday, introduced a bill authorizing the Prest= dent. by and with the advice and consent of the Senate, to reappoint John Clyde Sullivan a paymaster in the navy, with the relative rank of lleutenant commander. The Rogers Locomotive Works, the Dolpbon Jute Mills, and the Barbour Thread Mills, of Patterson, N. J., resumed work yesterday morning. The Central Bank, of Pittsburg, arranged yesterday to pay off all its depositors and suspend business. The bank is not embarrassed, but its business has not been profitable, and the conclusion to suspend business was reached after arrangements had been made to pay depositors dollar for dollar.

4. February 20, 1894 The Morning News Savannah, GA
Article from The Morning News, February 20, 1894

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Article Text

A Bank Going Out of Business. Pittsburg, Pa., Feb. 19.-The Central Bank of Pittsburg arranged to-day to pay off all its depositors and suspend business, The bank is not embarrassed, but its decision was reached after arrangements had been made to pay depositors dollar for dollar.

5. February 21, 1894 Wheeling Register Wheeling, WV
Article from Wheeling Register, February 21, 1894

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Article Text

NEWSLETS. Interesting Pieces of Telegraphle News in small Space. WASHINGTON, D. C., February 20.-The President to-day sent to the Senate the following nominations: Martin J. Russell, to be collector of customs port of Chicago; Frank G. Hovne, appraiser port of Chicage: Delos P. Phelps, United States subtreasurer at Chicago; John W. Arnold, marshal for the Northern district of Illinois; James W. Hunter, collector of internal revenue for Peoria, Ills., district; Russell N. Whittlesey, of Iowa, surveyor of customs. Council Bluffs, Iowa; William H. Milton, surveyor general of Florida. Postmasters: Wilbur M. Carpenter, Geneva, Ohio; Clinton B. Hart, Jefferson, Ohio; Wadmore Redhead, Astabula, Ohio; W. H. H. McIliar, Cambridge, Ohio; John Jones, Portsmouth, Ohio. MADRID, February 20.-The Minister of Foreign affairs has received a cable message from the Spanish minister at Washington saying that the United States government has admitted the principle of the Spanish claim for damages to Spanish subjects who suffered during the Florida war. These claims are a set off for the long discussed Mora claims of Havana, against which Deputy Lastres, of Mayaguez leads the opposition in the chamber. Des MOINES, IOWA, February 20.-The State Senate to-day passed the House b bill requiring the American flag to be displayed on every Iowa school house during the sessions of school. FOSTORIA, O., February 20.-Another thousand barrel oil well was struck at noon to-day. LOCKHART, TEXAS, February 20. -Ten prisoners in the county jail overpowered the guard last night, took the keys from him and escaped. RENO, NEVADA., February 20.-The block on the railroad in the Sierre mountains is the worst in years. The Truckee passenger train has been abandoned. It will be several days before the road is opened. CAIRO, ILLS., February 20.-The State of Missouri sprung a leak. was ran on bar at New Madrid and sank. No lives lost. Cargo will be saved. SALINEVILLE, OHIO, February 20.-The miners of this district have decided to resist the proposed 20 per cent. reduction. The mines were all idle to-day. MANSFIELD, PA., February 20.-The towns of the Mansfield Valley and Chartier's Borough have consolidated under the name: Carnegie, for Andrew Carnegie. The towns will have 4,000 population. PITTSBURG, PA., February 20.-The Central Bank, of this city, went into liquidation to-day, with abundant funds to pay all depositors. McKEESPORT, PA., February 20.-For several nights past circulars setting forth the principals of Anarchy have been distributed all over this city. They are headed, "The Communist-Anarchist to the Proletarial," and declare war upon private property, the Church and State. LONDON, February 20.-The American line steamer Paris arrived at Liverpool to-day.

6. March 9, 1894 The Pioneer Express Pembina, ND
Article from The Pioneer Express, March 9, 1894

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Article Text

Otherwise. The Central bank of Pittsburg, Pa., has gone into voluntary liquidation. A receiver has been appointed for the Lift House at Buffalo, N. Y. The assets are $80,000. Col. Welmer smote ex-Judge Magruder in the left eye in a legislative argument at Annapolis, Md. The story that Gov. McKirley is to try as successor to Calvin S. Brice in the senate is denied. The Barbers' Sunday closing law has been declared constitutional by the Michigan supreme court. The skeletons of several persons, children and adults were found in a dugout near Dubuque, Ia. Unemployed miners of Dunfermline, III., have issued a petition to be sent to Gov. Altgeld calling for relief. New York capitalists have purchased the natural and artificial gas plants at and about Lafayette, Ind. About 1,500 miners resumed work in the Eastern Ohio district upon terms agreed upon at a Columbus Conference. By the opening of spring another rush is expected to the Cherokee Strip. The new towns are booming. The steamer Australia sailed for Hon olulu, Hawaii, from San Francisco, bearing fifty cases of rifle cartridges. E. M. Field, son of Cyrus W. Field, has been ordered released from confinement as an insane person at New York. Dr. Daniel H. Williams, of Chicago, has been appointed surgeon-in-chief of the Freedman's Hospital, vice Dr. Purvis. The Republican of Decatur, Mich., has been sold to a stock company at Paw Paw, where the plant will be removed. "Pat Roney," the chimpanzee, died in the Cincinnati, 0., Zoological Garden. He was the most highly educated monkey in the world. The Lafayette, Ind., gas plants, artificial and natural have been sold to New York parties by the Brice-Thomas syndicate for $860,000. Bessemer, Mich., is in the hands of a mob, the rioters being angry because they had not received their daily supply of free food. Galusha A. Grow, Republican, is elected congressman at large in Pennsylvania by 15,000 plurality-the largest ever known in the state. Cora Belle Fellows is deserted by her Indian husband, Chaska, for a squaw with whom he is living on the Santee reservation. Another 1.000-barrel oil well was struck at Fostoria, Ohio. which is also good, it is said, for 5,000,000 feet of gas a day. Delegates of the first district of the Amalgamated Association of Iron and Steel Workers at Pittsburg, Pa., decided to stand by the organization and the Amalgamated wage scale. Charles F. Anderson. a contractor, of Lebanon. Ind., has sued Augustus Wells of Mason, Mich., for $5,000 damages for alienating his wife's affections. There were 115 accessions to the church during the revival in the Methodist church at Tower Hill, III, under the leadership of the Rev. J. B. Martin. Telegraphic reports from many points in Colorado and New Mexico disprove the reports that range stock is dying off by thousands on account of severe weather. The receivers of the Louisville, Evansville & St. Louis Consolidated railway have given notice that the interest due bondholders of the Evansville, Rockport & Eastern railroad Jan. 1 will be paid on and after Feb. 26. Mrs. Anna Nagle of Dubuque, Ia., has sued the Fred Miller Brewing Company of Milwaukee for $5,000 damages. Her horses were frightened by a key dropping from a beer wagon and she was thrown from her carriage and injured