1.
September 5, 1908
Albuquerque Citizen
Albuquerque, NM
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SMALL PITTSBURG BANK CLOSES BY ORDER OF COMPTROLLER The Suspension Caused Considerable Excitement and a Crowd Collected. HAD HALF MILLION DOLLARS ON DEPOSIT Liabilities Reach Over the Million Mark--Director Says He Does Not Know Why Action Should Have Been Taken. Pittsburg, Pa., Sept. 5.-The Cosmopolitan bank was suspended today by the comptroller of the currency. A notice posted on the door this morn. ing at the usual time for the bank to open read: "Closed by order of the comptroller." While the bank is not a large institution, it is of a fair size and the suspension caused considerable excitement. A large crowd collected about the bank when the news of its suspension was circulated. John D. McClurg is president of the bank and D. J. Richardson is chairman of the directors. In a telephone conversation with a large depositor this morning, Richardson Is reported to have said that he know of no reason why the bank should be closed, as it had from 40 to 45 per cent reserve on hand. The report of July 15 showed the resources and liabilities to be $1,912.520. The capital stock paid in was $500.000; surplus fund, $100,000; undivided profits, $55,582.
2.
September 5, 1908
Lewiston Evening Teller
Lewiston, ID
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PITTSBURG BANK FAILURES. Two Institutions Close Their Doors in Smoky City. Pittsburg, Sept. 5.-The Mount Washington Savings and Trust company was closed today by the Pennsylvania banking commission. The Cosmopolitan National bank of Pittsburg suspended operations today, by order of the controller. It was a fair-sized institution, and the failure created considerable excitement. The liabilities and resources of the Cosmopolitan are nearly $2,000,000.
3.
September 5, 1908
The Laramie Republican
Laramie, WY
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COSMOPOLITAN OF PITTSBURG CLOSED BY ORDER OF THE COMPTROLLER OF THE CURRENCY TODAY. Fair Sized Institution and Suspension Caused Some Excitement, Large Crowd Assembling-Report From Washington Is That Bank Is Insolvent — Street Railway Strike May Be Averted by Arbitration. Pittsburg, Pa., Sept. 5.-The Cosmopolitan National bank suspended today. The notice posted reads, "Closed by order of the comptroller." While the bank is not a large institution, it is of fair size, and the suspension caused considerable excitement. A large crowd collected in the streets about the institution. Richardson Quoted. John D. McClurg is president of the bank and D. J. Richardson is chairman of the board of directors. In a telephone conversation with a large depositor this morning, Richardson is reported to have said that he knew of no reason why the bank should be closed, as it had 40 to 45 per cent of its reserve on hand. July Report. The report on July 15 showed resources and liabilities of $1,912,520; capital stock paid in, $500,000; surplus funds, $100,000; undivided profits, $55,582.
4.
September 5, 1908
Alexandria Gazette
Alexandria, VA
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Bank Suspends. Pittsburg, Pa., Sept. 5.-The Cosmopolitan|National Bank of Pittsburg closed its doors today by order of the Comptroller of the Currency who appointed Robert Lyons receiver. He is already acting 88 receiver of the Allegheny National Bank The resources and liabilities on July 15 was $1,912,520. The federal officials in charge of the closed bank refuse to throw any light on the reasons leading to the step further than to declare the institution has been found to be insolvent. The bank officers are indignant, declaring that the step is a highhanded outing and ulterly uncalled for. The deposits aggregate in round figure $700,000 and there $100,000 each of government and state funds each covered by bond.
5.
September 6, 1908
Daily Press
Newport News, VA
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ONE FAILURE CAUSEO THE OTHER Refusal of Bank Examiner to Approve Certain Papers is Said to Have Brought on Trouble-Indignant Be. cause Government Saw Fit to Close Institution. (By Associated Press). PITOSBURG, PA., Sept., 5.-Two financial Institutions, the Cosmopolitan National Bank and the Mount Washington Savings and Trust Company were closed here today by orders from the federal and State bank authorities. While the Cosmopolitan National Bank was a fair sized institution, the trust company was a small concern and there was little or no excitement when the failures became known. The National Bank was closed a few minutes after 9 o'clock this morning. and the trust company at 11:30 a. m. The order closing the Cosmopolitan Bank was brought forth by the refusal, it is said, of Bank Examiner John B. Cunningham, to approve "some of the paper and other securities of the bank for loans, aggregating over $1,000,000. However, the officials of the bank deBy that worthless or insumedent securities have been accepted for loans. They say all the paper and other collateral held by the Cosmopolitan is collectable and that the bank is nolvent and able to pay all its liabilities. Further than the statement that the bank is insolvent, neither Examiner Cunningham or Judge Oldham, of the legal department of the comptroller of the currency, who arrived here from Washington early today, would not commit themselves. According to the bank's last statement. its liabilities were $1,861,830.96. The bank officials seemed to be very indignant that the government should close the institution and Cashier D. J. Richardson stated that none of them had any intimation that the bank was in trouble, until Examiner Cunningham closed the doors. He declared that the available cash on hand was nearly fifty por cent. of the total deposits. Included in the deposits are federal and State deposits of $100,000, each secured by bond. Robert Lyons, who is the receiver for the Alleghany National Bank, which recently failed here, was appointed receiver of 'the Cosmopolitan. The reason for the closing of the Mount Washington Savings and Trust Company has not yet developed. R is believed, however, that the trouble of the Cosmopolitan Bank was the cause. The vice president of the trust company'is also a director of the national bank. The capital stock of the trust company is $125,000, its deposits were $60,000 with loans and discounts of $141.000 and assets $200,000. State Bank Examiner James M. Cover said the Institution was closed by banking Commissioner Berkeley because of apparent irregularities. While he kms little of the condition of the bank, he believed it would be possible to adjust the Irregularities so that the doors could be opened for business next Tuesday morning as usual.
6.
September 6, 1908
The Montgomery Advertiser
Montgomery, AL
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TWO BANKS CLOSED PITTSBURG FINANCIAL INSTITUTIONS IN TROUBLE. Closing of Cosmopolitan National Was Brought Forth By Refusal of Bank Examiner to Approve Loan Securities. Pittsburg. Pa., Sept. 5. -Two financelal institutions, the Cosmopolitan National Bank and the Mount Washington Savings and Trust Company, were closed here today by orders from the Federal and State banking authorities. While the Cosmopolitan Bank was a fair sized institution. the Trust Company was a small concern and there was little or no excitement when the failures became known. The order closing the Cosmopolitan Bank was brought forth by the refusal, it Is said, of Bank Examiner John B. Cunningham to approve some of the papers and other securities of the bank for loans aggregating, it is said, over $1,000,000. However, the officials of the bank say all the paper and other collateral held by the Cosmopolitan is collectable and that the bank is solvent. Further than to state that the bank is insolvent, neither Examiner Cunningham. nor Judge Oldham, of the legal department, of the Comptroller of the Currency, who arrived here from Washington early today, would commit themselves. According to the bank's last statement, its liabilities were $1,861,830.96. The bank's officials seemied to be very indignant that the government should close the institution and Cashier D. J. Richardson stated that none of them had any Intimation that the bank was in trouble until Examiner Cunningham closed the doors. He declares that the available cash on hand was nearly fifty per cent of the total deposits. Included in the deposits are Federal and State deposits of $100,000, each secured by bonds. Robert Lyons. who is the receiver for the Allegheny National Bank, which recently failed here, was appointed receiver of the Cosmopolitan. The reason for the closing of the Mount Washington Savings and Trust Company has not yet been developed. It is believed, however, that trouble of the Cosmopolitan was the cause. The vice president of the trust company is a member of the board of directors of the national bank. The capital stock of the trust. company 13. $125,000. Its deposits were $60,000 with loans and discounts of $141,000 and assets said to aggregate $200,000. State Bank Examiner James M. Cover said the institution was closed by Banking Commissioner Burkey bécause of apparent irregularities. While he knew little of the condition of the bank, he believed it would be possible to adjust the irregularities in order that the doors could be opened for business next Tuesday.
7.
September 6, 1908
The Salt Lake Herald
Salt Lake City, UT
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PITTSBURG BANKS FALL BY WAYSIDE One National and One State Institution Closed by Official Orders. DEPOSITORS LEFT TO MOURN THEIR MONEY FEDERAL AND STATE FUNDS IN THE NATIONAL BANK WAS UNDER GUARANTY Pittsburg, Pa., Sept. 5.-The Cosmopolitan National bank of this city suspended operations today. A notice posted on the doors reads: "Closed by the order of the comptroller. (Signed) "JOHN B. CUNNINGHAM, "Examiner in Charge." While not a large institution, it is a fair-sized one, and the suspension caused considerable excitement. A few moments after the notice was posted on the doors a large crowd collected in front of the bank. Officials "Surprised." John McClurg is president of the bank and D. J. Richardson is cashier. According to a report this morning, Mr. Richardson, in a telephone conversation with one of the largest depositors, said he knew of no reason why the bank should be closed, as the institution had from 40 to 45 per cent reserves on hand. The report of the condition of the bank made at the close of business July 15, 1908, shows the resources and liabilities are $1,912,520.38; capital stock paid in, $500,000; surplus fund $100,000, and undivided profits $55,582. The Mount Washington Savings & Trust company of this city was closed today by the Pennsylvania commissioner of banking. Worthless Securities. The order closing the Cosmopolitan bank was brought forth by the refusal, it is said, of Bank Examiner John B. Cunningham to approve some of the paper and other securities of the bank for loans, aggregating, it is said, over $1,000,000. The officials of the bank deny that worthless or insufficient securities have been accepted for loans. They say all the paper and other collateral held by the Cosmopolitan is collectible and that the bank is solvent. Further than to state that the bank is insolvent, neither Examiner Cunningham nor Judge Oldham of the legal department would commit themselves. According to the bank's last statement its liabilities were $1,261,830.96. The bank's officials seemed to be indignant that the government should close the institution. The cashier declared that the available cash on hand was nearly 50 per cent of the total deposits. Included in the deposits are federal and state deposits of $100,000 each, secured by bond. Lyons Made Receiver. Robert Lyons, who is the receiver of the Allegheny National bank which recently failed here, was appointed receiver of the Cosmopolitan. The vice president of the Mount Washington Savings & Trust company is also a director of the Cosmopolitan National bank. The capital stock of the trust company is $125,000. Its deposits were $60,000, with loans and discounts of $141,000, and assets said to aggregate $200,000. State Bank Examiner James M. Cover said the trust company was closed because of apparent irregularities.
8.
September 6, 1908
The Washington Herald
Washington, DC
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BANK EXAMINER AT FAULT Condition Caused Pittsburg Bank Sensation. Two Big Banks Close on His Order, but Are Solvent, and Will Be Reopened, Pittsburg, Sept. 5.-Two bank sensations startled Pittsburg to-day. The Cosmopolitan National Bank was closed and the Mount Washington Savings and Trust Company had notices posted on its doors for fifteen minutes, which were taken down, and the examiner went away without any explanation of his action. The directors of the trust company will begin criminal prosecutions against James M. Cover, the State banking examiner. for the latter action. He closed the bank about 11 o'clock. and after holding a telephone conversation with the State department in Harrisburg, tore down the notices. The bank held more than 50 per cent of its deposits in reserve at the time After the closing of the Cosmopolitan National Bank serious charges were made against the bank examiner. John B. Cunningham, who made an examination of the bank. It is alleged by F. A. Kitzmiller, vice president. and Charles A. Muelhbronner, a director, that Examiner Cunningham was intoxicated when he closed the bank, and did not know what he was doing. Mr. Kitzmiller said he would make an affidavit and prove it by witnesses that Cunningham was under the influence of liquor when he entered the bank and posted the notice. The officials say the bank is perfectly solvent and that this will be proved. Robert Lyons was appointed receiver and took charge. He was joined by F. F. Oldham, attorney for the Comptroller of the Currency. Vice President Kitzmiller, in the absence of John McClurg, the president, said: "I can only account for the closing of the bank by the fact that Cunningham was drunk and had been drunk for some time. His condition was known to everyone. Every time he visited the bank he was under the influence of liquor. Cunnigham had every appearance of being under the influence of liquor." Mr. Kitzmiller's remarks were added to by others who witnessed the closing of the bank. Receiver Lyons. when asked as to the truth of the report that Examiner Cunningham was intoxicated when he closed the bank, said: "It is unfortunate that that became public."
9.
September 7, 1908
Deseret Evening News
Salt Lake City, UT
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COSMOPOLITAN OFFICIALS APPEAL TO WASHINGTON Pittsburg, Sept 7.-The directors of the Cosmopolitan National bank, which was closed by order of the comptroller of the currency Saturday will meet tomorrow and formulate a demand upon the government officials at Washington that the bank be re-opened and allowed to continue business. They will insist that the institution is solvent and that the act of the comptroller was not warranted. National Bank Examiner John B. Cunningham. whose examinaion of the bank books resulted in the comptroller's order that it be closed, denies that he was intoxicated when he made the examination or went to the bank Saturday morning and posted the notice that closed the Institution, as alleged. Cunningham was accompanied to, the bank Saturday morning by Judge F. F. Oldham, legal adviser to the comptroller of the currency, who came to Pittsburg to assist Cunningham in the examination of the Cosmopolitan. Receiver Robert Lyon and three government accountants began work on the bank accounts today. The receiver says it will be several days before he will be able to make a report to the comptroller.
10.
September 7, 1908
The Madison Daily Leader
Madison, SD
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SMALL BANK SUSPENDS. Comptroller of the Currency Closes Pittsburg Institution. Pittsburg, Sept 7.-The Cosmopolitan National bank, one of Pittsburg's smaller institutions, closed its doors on orders from the comptroller of the currency. Robert Lyons, receiver of the Allegheny National bank, which recently failed here, was appointed temporary receiver of the Cosmopolitan. The suspension followed an examination of the bank's books by Examiner John B. Cunningham. Judge Oldham of the legal department of the comptroller of the currency, arrived here in connection with the trouble. Further than stating that the bank was insolvent neither Examiner Cunningham or Judge Oldham would make a statement. In the meantime the bank's officials are very indignant that the government closed the bank. They allege It is in excellent financial shape and say the deposits aggregate about $900,000.
11.
September 7, 1908
New-York Tribune
New York, NY
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BANKERS INDIGNANT MOSMOPOLITANTO APPEAL Trust Company Will Reopen-Examiner Says He Was Not Drunk. [By Telegraph to The Tribune.) Sept. 6.-Officials of the Cosmopolitan yesterday by National Pittsburg. Bank, Controller which of was the closed Currency of the on recomB. Cunninga meeting would the an appeal for made ender mendation be beld him be announced of first to Bank the of to-night the Controller Examiner week, that at of John the which Currency to open as it is emission the bank. they declare A. of bank, glivent. E Kitzmiller, vice-president the Examiner in the reterated Conningham closing to-night institution. had overstepped of his the statement most his that authority To-day thirty-one prominent bankers were seen one stated that heard no at the Coshe of had Pittsburg reports and of each trouble they mopolitan Bank previous to the closing. This, is as usually know trouble was on for as is usually when claimed, calied most aid exists. unusual, bank prior is to None in the trouble. bankers closing, of the. Bankers banks when a genare over declare during banks erally the that case indignant discriminated the last few against months the closing by Pittsburg the and bank have been examiners. Regarding the rumors that he was under the of liquor when he closed the bank, Exseen, sent aminer influence Cunningham, who refused to be "I geny was Comword: The Mount Washington emphatically Savings that I and Trust drunk." a state was yespany, Examiner institution, J. M. which Cover, closed terday by according to statements issued by its officers to-night, will open for business as usual Tuesday morning, to-morrow being a legal holiday. The notice closing the bank was posted shortly before noon on Saturday, and remained up only 8 short time. but as banks close on Saturday afternoons DO further business was done yesterday. George M. Gordon, secretary and treasurer of the trust company. in a statement issued to-night says Examiner Cover called at the bank about 10 effect of Bank have on company, was ado'clock the would closing yesterday the the morning Cosmopolitan trust and asked National and what ised that while the Cosmopolitan was a reserve repository, the balance with it at present was only $4,000, and the closing would have no maarial effect. "About 11:30 o'clock he called again," the statement continues, "saying that he had instructions from Commissioner Berkey to close up: he put a notice on the door and drew down the blinds. He alled Mr. Berkey by telephone, and after a lengthy conversation with him ordered the sign taken down. He remained for a few minutes, and my presence told different persons that a misake had been made, and that we would be open usual on Tuesday morning. "He also authorized me to tell inquirers the same. He made no explanation to the crowd which milected after the notice was posted. "Our reserve funds at present are very much above legal requirements, and while I do not know what the action of the board will be I see no reason why business cannot be resumed as usual, unless we have suffered irreparable injury from the posting of the notice and the spreading of the rumor. Within the last ten days our bank was examined by State Bank Examiner White, who reported to us that we were in better condition than ever before." A. L. Richmond, jr., a director of the Cosmopolitan. is vice-president of the trust company.
12.
September 7, 1908
Evening Star
Washington, DC
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"I WAS NOT DRUNK' Bank Examiner Cunningham Denies Financiers' Charges. CONCERN CLOSED MAY SUE Pittsburg Bankers Declare Cosmopolitan Appears Solvent. CASHIER DECLARES IT SOUND Chief of Insolvency Division of Treasury, Judge F. F. Oldham, May Make Investigation. PITTSBURG. September 7.-Indignation over the mysterious closing of the Cosmopolitan National Bank of Pittsburg Saturday. and over the attempt to close the Mount Washington Savings and Trust Company. is expressed by thirty-one of the leading bankers of Pittsburg. who say they had no knowledge of anything wrong at the Cosmopolitan Bank. Most of them had daily dealings with it. The charge that Bank Examiner John B. Cunningham was intoxicated at the time of his examination of the bank's books is mush discussed. That the controller of the currency, who has been asked to investigate Cunningham, has taken official notice of the matter was shown here last night when Judge Francis F. Oldham, chief of the insolvency division of the Treasury Department, admitted that he had been ordered to remain in Pittsburg indefinitely. "I was not drunk," was all Cunningham would say yesterday when asked for a statement. Directors of the Cosmopolitan Bank will hold a meeting Tuesday, when an appeal will be made to the controller of the currency for permission to reopen the bank, on the ground that. there was no cause for its being closed. E. A. Kitzmiller. vice president of the bank, one of those to charge Cunningham with being intoxicated. is practically at the head of the institution, John McClurg. the president. being seriously ill with tuberculosis. Closed Bank May Bring Suit. James M. Cover. the state banking examiner, who closed the Mount Washington Savings and Trust Company, is not to be found. It is alleged that he left the city. E. Weiler. vice president, said yesterday that the bank will make an attempt to open Tuesday. but If it is apparent that a run will follow. which will criple the institution, the doors will be closed and action will be begun against the state authorities for damages. Robert Lyons. receiver of the Cosmopolitan Bank, was asked if he had read the charge that Cunningham was intoxicated. "I am sorry that this matter has become public," he replied. "Cunningham is an excellent fellow." The thirty-one prominent bankers seen yesterday expressed their surprise at the closing of the banks. The consensus of opinion was that the Cosmopolitan was in good condition financially and that they would have known It had there been any trouble. Opinions of Bankers. Robert Wardrop, one of them. said: "It is the custom, in cases of this kind, for a bank, if it is in trouble, to appeal to the other banks. Invariably assistance is given, as far as possible. I know of no such appeal having been made by the Cosmepolitan." Statements of a similar nature were made by the other bankers seen.
13.
September 7, 1908
Evening Star
Washington, DC
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PITTSBURG BANK FLURRY. Mount Washington Savings Institution Likely to Reopen Tomorrow. PITTSBURG, September 7.-The Mount Washington Savings and Trust Company, a state Institution, which was closed Saturday by Examiner J. M. Cover, will, according to statements issued by its officers last night, open for business as usual Tuesday morning, today being a legal holiday. The notice closing the bank was posted shortly before noon Saturday and remained up but a short time, but as banks close Saturday afternoons, no further business was done that day. George M. Gordon, secretary and treasurer of the trust company, in a statement issued last night, says Examiner Cover called at the bank about 10 o'clock Saturday morning and asked what effect the closing of the Cosmopolitan National Bank would have upon the trust company. and was advised that while the Cosmopolitan was a reserve depository the balance with it at present was only $4,000, and the closing would have no material effect. "About 11:30 he called again," the statement continues, "saying that he had instructions from Commissioner Berkey to close us, put a notice on the door and drew down the blinds. He called Mr. Berkey by telephone, and after a lengthy conversation with him ordered the sign taken down. He remained for a few minutes and in my presence told different persons that a mistake had been made. and that we would be open as usual Tuesday morning. "He also authorized me to tell inquirers the same. He made no explanation to the crowd which collected after the notice was posted. "Our reserve funds at present are very much above legal requirements, and while I do not know what the action of the board will be I see no reason why business cannot be resumed as usual, unless we have suffered irreparable injury from the posting of the notice and the spreading of the rumor. Within the last ten days our bank was examined by State Bank Examiner White, who reported to us that we were in better condition than ever before." President H. W. Gleffer and Secretary George M. Gordon denounced the closing of the bank half an hour before regular closing time Saturday as an outrage. "If such a thing as this can be done legally." said Gordon, "it will be possible to bankrupt every bank in Pennsylvania. This 'accidental' closing might just as well happen to a large institution, causing a tremendous run, as on a small banking house like ours.' A. L. Richmond, jr., a director of the Cosmopolitan. is vice president of the trust company.
14.
September 10, 1908
Courier Democrat
Langdon, ND
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SAY BANK IS SOLVENT. Directors Demand That Institution Be Reopened. Pittsburg, Sept. 8.-The directors of the Cosmopolitan National bank which was closed by order of the comptroller of the currency Saturday, met and formulated a demand upor the government officials at Washing ton that the bank be reopened and allowed to continue business. They in sist that the institution is solvent and that the action of the comptroller was not warranted. Receiver Robert Lyons and three government accountants have begun work on the bank's accounts. The receiver says it will be several days before he will be able to make a report to the comptroller.
15.
September 10, 1908
Reporter and Farmer
Webster, SD
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SAY BANK IS SOLVENT. Directors Demand That Institution Be Reopened. Pittsburg, Sept. 8.-The directors of the Cosmopolitan National bank, which was closed by order of the tomptroller of the currency Saturday, miet and formulated a demand upon the government officials at Washington that the bank be reopened and allewed to continue business. They inBist that the institution is solvent and that the action of the comptroller was not warranted. Receiver Robert Lyons and three government accountants have begun work on the bank's accounts. The receiver says it will be several days before he will be able to make a report to the comptroller.
16.
September 23, 1908
The Washington Times
Washington, DC
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JOHN A. DIX.
He is the man nominated by the Democrats for second place on the New York State ticket, of which Lewis Stuyvesant Chanier is the head.
# MURRAY CALLS IN
# BANK RECEIVERS
Comptroller of Currency
Gives Order for Conference
in Capital October 5.
Following close upon the heels of the talks which he has given the na-tional examiners, Comptroller of the Currency Lawrence O. Murray this morning issued orders calling to Washington the receivers of the insolvent national banks in the East.
The conference will begin October 5, and will be devoted to discussion of many topics pertaining to receiverships. At present, there are sixteen receivers who are affected by the Comptroller's order.
While it is not so stated, it is entirely possible that the recent closing of the Cosmopolitan National Bank of Pittsburg by Receiver Cunningham, who it was alleged at the time, was intoxicated, as well as the desire of the new Comptroller to thoroughly inspect and then thoroughly drill his men, are responsible for this new order.
According to the Comptroller's office, the session of the examiners this morning was a mild affair, and Mr. Murray refrained from using more of the hot shot he poured at the heads of the conferees Monday.
17.
October 28, 1908
The Salt Lake Herald
Salt Lake City, UT
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bank, which failed for $2,000,000. Montgomery embezzled $750,000, and is now being tried in the federal court at Pittsburg. Another Pittsburg institution which recently went to the wall was the Cosmopolitan National bank. According to the receiver, every cent of the capital stock, also the surplus, and more, is missing. The city of Pittsburg had $200,000 in this last-named institution and supposed its deposit was secured, or guaranteed, if you like, but has been compelled to bring suit against the directors of the failed institution to recover. The ordinary depositors lost their little all. There are bad men in all lines of business, trades and professions. Even the pulpit is not exempt. We might pass the objection of Governor Hughes at this point, but there is one fact which should be taken into consideration in connection with this proposed guaranty law. If the fund were established and each one of the banks compelled to contribute its share, the bad banker would not travel far on the downward road before the other bankers would sit up and take notice, and a complaint would be promptly filed. Under the present system unless they have some personal interest the banking fraternity is prone to allow the erring brother to go the limit and a crash results. This is the strongest point of the guaranty proposition.
18.
October 30, 1908
The Penn's Grove Record
Penns Grove, NJ
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Bank Near $1,000,000 Short. The Cosmopolitan National Bank of Pittsburg, which is now in the hands of a receiver, appears to be short something like $1,000,000.
19.
July 7, 1909
The Richmond Palladium and Sun-Telegram
Richmond, IN
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TO GIVE DIVIDEND Pittsburg, Pa., July 7.-Receiver Lyon of the defunct Cosmopolitan National bank of Pittsburg, announces a dividend of five per cent to the bank's creditors. This makes a total of 55 per cent paid out since the bank closed last September.