Duquesne National Bank - Pittsburg, PA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 2278
Charter Number: 2278
Start Date: September 21, 1931
Location: Pittsburg, Pennsylvania (40.441, -79.996)

Metadata

Model: gpt-5-mini
Short Digest: fedcb549

Response Measures

None

Receivership Details

Depositor recovery rate: 90.0%
Date receivership started: 1932-11-15
Share of assets assessed as good: 27.2%
Share of assets assessed as doubtful: 60.3%
Share of assets assessed as worthless: 12.5%

Description

The Duquesne National Bank closed its doors in September 1931 and was placed in receivership; articles describe receivers accepting claims and paying dividends, with no mention of a depositor run. Closure appears permanent. OCR in some articles omits the final 'h' in Pittsburgh; I corrected to Pittsburgh, PA.

Events (5)

1. June 19, 1875 Chartered

Source: historical_nic

2. September 21, 1931 Suspension

Cause Details: Article(s) state the bank closed Sept. 1931 but give no specific immediate trigger or cause for the suspension.
Newspaper Excerpt: The of the bank's closing was on September 21 In these three years secured and preferred liabilities paid ... Depositors of this bank have received 50 per cent in dividends.
Source: newspapers

3. November 15, 1932 Receivership

Source: historical_nic

4. December 5, 1932 Other

Newspaper Excerpt: Proofs of claims from depositors and creditors of the closed Duquesne National Bank, Fourth nue, Pittsburgh, will be accepted beginning today. ... 90-day period will be allowed for filing claims, Thomas said, and depositors assist the receiver by not all attempting file their claims within the few days.
Source: newspapers

5. April 1, 1933 Receivership

Newspaper Excerpt: Arthur R. Atwood today was appointed receiver for the Bank of Pittsburgh N. A., and the Duquesne National Bank. He succeeds C. O. Thomas who recently was appointed for the First National Bank of Detroit. Mr. Atwood has been assistant receiver for the two local banks since they closed their doors in September, 1931.
Source: newspapers

Newspaper Articles (4)

1. December 5, 1932 Pittsburgh Post-Gazette Pittsburgh, PA

Article from Pittsburgh Post-Gazette, December 5, 1932

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Article Text

DUQUESNE NATIONAL TO RECEIVE CLAIMS Closed Bank's Receiver Begin Accepting Proofs Today Proofs of claims from depositors and creditors of the closed Duquesne National Bank, Fourth nue, Pittsburgh, will be accepted beginning today. This is necessary routine procedure, preparatory payment dividends when sufficient funds available, Thomas, receiver, stated. Passbooks and other papers are essential in proving claims. 90-day period will be allowed for filing claims, Thomas said, and depositors assist the receiver by not all attempting file their claims within the few days. Claims may handled through the mail upon written request for forms and printed instructions.

2. April 1, 1933 Pittsburgh Sun-Telegraph Pittsburgh, PA

Article from Pittsburgh Sun-Telegraph, April 1, 1933

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Article Text

NAMED BANK Arthur R. Atwood today was appointed receiver for the Bank of Pittsburgh N. A., and the Duquesne National Bank. He succeeds C. O. Thomas who recently was appointed for the First National Bank of Detroit. Mr. Atwood has been assistant receiver for the two local banks since they closed their doors in September, 1931. He previously was connected with the Clarksburg National Bank and Trust Company of Clarksburg. N. Y.

3. April 2, 1933 The Philadelphia Inquirer Philadelphia, PA

Article from The Philadelphia Inquirer, April 2, 1933

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Article Text

NAME BANK RECEIVER Arthur H. Atwood today was appointed receiver for the Bank Pittsburgh. National Association and the Duquesne National Bank. He succeeds C. Thomas, who went to the First National Bank of Detroit as Atwood has been assistant receiver for the two banks since they closed in 1931 Previously he connected with the Clarksburg Na tional Bank and Trust Company of Man Dies of Malnutrition man giving his name as Richard Starsoneck 34, of 2206 Sidney ave., West Port. Baltimore, who sought shelter in the 28th and Ox ford sts. police station Friday night died yesterday morning as he was being taken to the Northwestern General Hospital turnkey found him unconscious at 6.45 M. Physicians said death resulted from

4. October 8, 1934 Pittsburgh Post-Gazette Pittsburgh, PA

Article from Pittsburgh Post-Gazette, October 8, 1934

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Article Text

BANK RECEIVER'S COLLECTIONS GOOD Big Cash Increase at The Bank of Pittsburgh. The report of Arthur R Atwood, receiver of the Bank of Pittsburgh, for the quarter ended September shows substantial collections during the period in an increase in cash on hand from $338,667 on June 30 to $1,090,019 on September 30. Since the receiver no money to the RFC depositors apparently are in line for another dividend in the future to augment the 70 per cent they already The of the bank's closing was on September 21 In these three years secured and preferred liabilities paid amount $21,170,346 and unsecured creditors, or ordinary depositors, have been paid Remaining assets on September 30, 1934, some part of which necessarily may never be collected, although there had been $2,530 losses charged off Atwood is also receiver of the Duquesne National Bank and his report at September 30, this year shows an increase in cash on hand $78,186 from the held three months earlier Also repayments against RFC loans increased from $926,700 to $937,700. Depositors of this bank have ceived 50 per cent in dividends.