Colonial Trust Company - Pittsburg, PA

Bank Information

Episode Type: Run Only
Bank Type: trust company
Start Date: June 20, 1914
Location: Pittsburg, Pennsylvania (40.441, -79.996)

Metadata

Model: gpt-5-mini
Short Digest: 585ad047

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions

Description

Article (dated 1914-06-20) reports a vault robbery of $85,000 discovered more than a week earlier; news of the theft triggered a run that was checked by the prompt payment of all who demanded their deposits. Bank arranged rediscounting of loans if needed. Corrected OCR spelling 'Pittsburg' to 'Pittsburgh'.

Events (1)

1. June 20, 1914 Run

Cause: Bank Specific Adverse Info
Cause Details: News leaked out that $85,000 was stolen from the vault of the Colonial Trust Company more than a week earlier; the robbery prompted depositor withdrawals.
Measures: Prompt payment of all depositors who demanded funds; arranged for rediscounting of loans if necessary.
Newspaper Excerpt: The run which started this morning on the bank was checked by the prompt payment of all who demanded their deposits, besides which the officials of the bank stated that they had arranged for the rediscounting of all the loans of the bank if it is necessary to meet the run.
Source: newspapers

Newspaper Articles (1)

1. June 20, 1914 Valdez Daily Prospector Valdez, AK

Article from Valdez Daily Prospector, June 20, 1914

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Article Text

FORTUNE TAKEN FROM A BANK Vault of Colonial Bank of Pittsburg Robbed of $85,000 a Week Ago -Is Kept a Secret. PITTSBURG, June 20.-It has leaked out today that $85,000 has been stolen from the vault of the Colonial Trust Company more than a week ago and that the officials of the bank and the police had kept the matter secret. No information has been given out regarding the robbery, but as none of the employees of the bank have been place dunder arrest it is believed to have been the work of professional bank breakers. The run which started this morning on the bank was checked by the prompt payment of all who demanded their deposits, besides which the officials of the bank stated that they had arranged for the rediscounting of all the loans of the bank if it is necessary to meet the run.