19306. First Second National Bank (Pittsburg, PA)

View Charter #252 on SPMC

Bank Information

Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
252
Charter Number
252
Start Date
July 7, 1913
Location
Pittsburg, Pennsylvania (40.441, -79.996)

Metadata

Model
gpt-5-mini
Short Digest
e2b3d0eb

Response Measures

None

Receivership Details

Date receivership started
1913-07-07
Date receivership terminated
1914-04-25
OCC cause of failure
Losses

Description

The First-Second National Bank was ordered closed by the Acting Comptroller on 1913-07-07 and placed in receivership; it remained closed and was reorganized and permitted to reopen in April 1914. Although runs occurred on affiliated institutions (Pittsburgh Bank for Savings, First National of McKeesport), the primary action for this bank was a government-ordered suspension/receivership, followed by reopening after reorganization.

Events (7)
1. February 13, 1864 Chartered
Source
historical_nic
2. July 7, 1913 Other
Newspaper Excerpt
Following the news of the closing of the First-Second National Bank, a steady run started on the Pittsburg Bank for Savings, which also is controlled by the Kuhn interests.
Source
newspapers
3. July 7, 1913 Receivership
Source
historical_nic
4. July 7, 1913 Receivership
Newspaper Excerpt
Ordered closed ... into the hands of receivers ... receivers were named for the American Waterworks and Guarantee company and the Kuhn banking house; receiver appointed for the Pittsburg institution was mentioned in reports.
Source
newspapers
5. July 7, 1913 Suspension
Cause
Government Action
Cause Details
Acting Comptroller of the Currency ordered the bank closed after examiners found impaired capital and inability of directors to make good losses; clearing house declined to furnish needed assistance.
Newspaper Excerpt
The FirstSecond National Bank of Pittsburg ... closed its doors to-day by direction of the Acting Comptroller of the Currency.
Source
newspapers
6. April 25, 1914 Restored To Solvency
Source
historical_nic
7. April 26, 1914 Reopening
Newspaper Excerpt
First-Second National of Pittsburgh Resumes Business. John Skelton Williams, controller of the currency, announced yesterday that the First-Second National Bank of Pittsburgh would reopen for business tomorrow with a new management and new board of directors.
Source
newspapers

Newspaper Articles (24)
1. July 7, 1913 Atlanta Georgian Atlanta, GA
Article from Atlanta Georgian, July 7, 1913

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CLOSING OF BANK INVOLVES 40 MILLIONS One of the Oldest Institutions in Pittsburg Ordered by U. S. Comptroller to Suspend. PITTSBURG, July 7.-The FirstSecond National Bank of Pittsburg, one of the city's oldest banking institutions, closed its doors to-day by direction of the Acting Comptroller of the Currency. The amount involved is said to be between $24,000,000 and $40,000,000. One report is that the amount will reach $200,000,000. The Pittsburg Clearing House had a special meeting last night to consider the impending failure and today another conference was held. Hundreds of depositors, many of them foreigners employed in the great steel mills, flocked to the bank early to-day but a squad of police kept every one moving. The First and Second National Banks combined last March and OCcupied a new 25-story building. A typewritten notice on the doors stated the institution was in the hands of National Bank Examiner Samuel M. Hann and Sheriff Smith. A director of the bank to-day made the following statement: "The officers and directors are a unit in maintaining that a great injustice has been done and that the bank is solvent at this moment. We are also convinced that all claims will be paid in full. If the Treasury Department, operating through the Comptroller of the Currency, had not interfered and had not subjected the bank to a rigid examination by special examiners who were not able to judge values of property and securities in this community, we would have been able to work out to success our problems." Following the news of the closing of the First-Second National Bank, a steady run started on the Pittsburg Bank for Savings, which also is controlled by the Kuhn interests.

2. July 7, 1913 Atlanta Georgian Atlanta, GA
Article from Atlanta Georgian, July 7, 1913

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McKeesport, Pa., Bank Closes, Also. PITTSBURG, July 7.-The, First National Bank of McKeesport closed its doors at 10:30 this morning. The following unsigned notice was posted on the door of the institution: "On account of the First-Second National Bank of Pittsburg asking for a reeciver it is thought best for all of our depositors to close this bank for the present."

3. July 7, 1913 The Chronicle=news Trinidad, CO
Article from The Chronicle=news, July 7, 1913

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KUHN BANKS CLOSE The First-Second National Bank of Pittsburgh, the second largest in the city and one of the largest In the country, was closed today by order O. the comptroller of the currency. The First National Bank of McKeesport, Pa.. an allied Institution. also closed Its doors. W. S. Kuhn and J. S. Kuhn own the controllins Interests in both banks. Attorneys this afternoon appeared before Judge C. P. Orr In the federal court and asked for receivers for the American Waterworks and Guarantee company and also for the firm 01 i J. 8. and W. 8. Kuhn. incorporated. For the former these were appointed: J. 8. Kuhn, W. S. Kuhn. J. H Purdy, general manager of the company, and Samuel Balley. Jr., 8 bank official of this city. For the Kuhn company was apopinted J. J Duff who is treasurer of the com. pany. Bonds of $50,000 were ordered filed for each receiver. The American Waterworks and Guarantee company is the largest operating waterworks company In the United States. controlling more than 40 such plants throughout the coun. try. The concern is also largely in. terested in irrigation projects, elec. tric Interurban and electric lighting enterprises.

4. July 8, 1913 Norwich Bulletin Norwich, CT
Article from Norwich Bulletin, July 8, 1913

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Bank's Capital Much Impaired PITTSBURG INSTITUTION ORDERED CLOSED. IN RECEIVERS' HANDS McKeesport Bank and Other Enterprises Affected-"A Sporadic Case of Unsound Banking," Says McAdoo. Pittsburgh, Pa., July 7.-The FirstSecond National Bank of Pittsburgh, the First National Bank of McKeesport, a neighboring city, the American Waterworks and Guarantee Company W. and the Banking house of J. S. and forced S. Kuhn, Inc., of this city, were .today into the hands of receivers through the failure of the first named morninstitution to open its doors this Closing ing. Ordered By Deputy Comptroller The closing of the First-Second National Bank was ordered by the deputy P. comptroller of the currency, T. made after every effort had been the government Kuhn the legal reserve. in banking house projects has throughout the and mines and throughout western systems to Kane, west, as meet irrigation to extensive street dominant requirements The Pennsyl- interests traction facbesides being a and vania, in the American Waterworks was Guarantee tor Company. W. S. Kuhn, Nationof the First-Second in president vice-president and director al Bank, banking house, and vice-president Waterthe director of the American besides and and Guarantee Company works being a director of the McKeesport bank. Kuhn was a director of the First-Second J. S. National Bank, president Waterdirector of the American presiand and Guarantee Company; works director of the McKeesport of dent and and chairman of the board bank, directors of the banking house. No Statement until Night. it was learned that the banks steps When have to suspend business American would taken to protect the Company Waterworks were and Guarantee and made and the Kuhn's Banking in house, the federal application court this afternoon was for receivers for both institutions. the day a statement of Throughout banks and affected companies anxi- affthe awaited with feverish until airs was but none was forthcoming formal ety, when Mr. Kane made the a condito-night No statement of subtion to the one the bank was 4, on statement. of issued obtainable comptroller. June the sequent last bank call of the Unable To Make Good Impaired Capital. To-night Mr. Kane issued the following: meeting of the directors held of the on First-Second "At a National of Bank the bank and Sunday of the recent the bank examiners the directors results the condition were investigation discussed. good of the full consideration make After their inability to and withdeclared impaired capital would be the bank's decided that it depositors out dissent the protection of have the best all for other interests to take charge the bank. and comptroller and arrange of for the the currency liquidation of Little Loss to Depositors. Pittsburgh clearing house for com- the mittee "The which has been engaged over the aff:past four days in with going the examiners airs and in of making the bank a careful refused investigation to furnish as to its condition the bank in keeping the enough doors to open justify and agreed was no under alterna tive to the its circumstances course there recommended by the banks directors. of the bank have ex"The officers the department the but belief little pressed to will ultimately be depositors. that there loss to the bank's bank, and the if The any liquidation of its of assets the will proceed as distribution expeditiously as possible." Prepared. House Was of the Clearing a protracted house meeting association that institution Pittsburgh After clearing to-night issued this statement: "The closing of the the deputy First-Second Na- comptroller entirely unof tional expected the Bank currency by this by association was for not the crisis. and it all was The in therefore prepared clearing house are that the members of the and we believe the good and trust are as a will take of banks Pittsburgh condition companies whole, It in prepared transfer seve- city for any emergency. for the careful ral days to and arrange the proper and theFirstof accounts of checks made We on therefore National of the public Second indulgence help in every ask the that they will the solution the handling assist Bank. in and request possible to confronts banks." clearing way of the problem house which committee and the

5. July 8, 1913 Amarillo Daily News Amarillo, TX
Article from Amarillo Daily News, July 8, 1913

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ALLIED BANK CLOSED, AND WATERWORKS CO. GOES INTO RECEIVERSHIP DISPUTE WITH TREASURY Closing of These Great Institutions Said to Be Climax to Long Quarrel as to Value of Assets By Associated Press. PITTSBURG, Pa., July 7.-FirstSecond National Bank, a consolidated institution, and one of the largest in the country, was closed today by order of the comptroller of currency. The First National Bank of McKeesport, Pa., an allied institution also closed. W. S. Kuhn and J. S. Kuhn brothers. own the controlling interest in bot banks, also the American waterworks and Guarantee company, which owns forty waterworks plants in various parts of the country. Late this afternoon, attorneys asked appointment of a receiver by the Federal Court for the waterworks company, also for the firm of J. S. and W. S. Kuhn, incorporated. The receivers appointed for the waterworks company: J. 8. Kuhn, W. S. Kuhn, J. H. Purdy, Samuel Bailey Jr. and for the Kuhn Company: J. K. Duff. The First-Second National Bank has deposits of $30,000,000, the capital stock is $3,400,000. The closing comes as the climax of a long quarrel with the treasury over the value of assets. On June 4. the reserve was more than $2,000,000 below the legal requirement. A run began today on the Pittsburg bank for savings, of which J. S. Kuhn is president.

6. July 8, 1913 The Richmond Virginian Richmond, VA
Article from The Richmond Virginian, July 8, 1913

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SECRE TARY M'ADOO MAKES STATEMENT DEFUNCT BANK A SORE SPOT HANDED DOWN FROM LAST ADMINISTRATION. SITUATION IS GOOD MERELY SPORADIC CASE OF UNSOUND BANKING AND NO FURTHER TROUBLE IN PITTSBURG EXPECTED. WASHINGTON, July 7.-Secretary of the Treasury McAdoo late today issued the following statement on the closing of the First-Second National bank of Pittsburg, and the First National bank of McKeesport: "The acting comptroller of the currency took charge of the First-Second National bank of Pittsburg today because its directors in a meeting held at Pittsburg yesterday expressed their inability to make good an impairment of its capital and decided that the wise thing for all interests was for the acting comptroller to take the situation in hand. The Pittsburg Clearing House association, which has had the matter under consideration for sev. eral days, had in the meantime also decided that it was inexpedient to furrish the amount of assistance required to keep the bank going. Sore Spot For Some Time. "This bank. which was handed down from the last administration. has for some time been a sore spot in the local situation and its liquidation became Inevitable. "The general banking situation In Pittsburg is sound and no further trouble with banks is expected. "The acting comptroller has no alternative in the circumstances but to take charge of the First-Second National bank in order to prevent the withdrawal of large accounts which has already begun and to secure for the small depositors equal treatment with the lenge -- maill

7. July 8, 1913 The Cairo Bulletin Cairo, IL
Article from The Cairo Bulletin, July 8, 1913

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Panicky Conditions Follow. Pittsburg, July 7.-Closely following the collapse of the First-Second National bank of iPttsburg, the second largest in the city, and one of the largest banking institutions of the country, the United States court this afternoon named receivers for the American Waterworks and Guarantee company, a twenty million do:lar corporation, which controls more than forty waterworks plants throughout the United States. Receivers also were named for the firm of J. S. and W. S. Kuhn, bankers. The Kuhns controlled the failed bank as well as the waterworks company. After the failure of the First-Second National bank this mornig a run was started on the Pittsburg Bank for Savings, of which J. S. Kuhn is president.

8. July 8, 1913 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, July 8, 1913

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Washington, July 7. Secretary McAdoo, in a statement tonight, declared that the general banking condition in as well as in the entire was strong no country, that Pittsburg, he expected and further of sound, the trouble Pitts- and as a result of the failure burg First-Second National bank, 'The failure of the Pittsburg bank is simply a sporadic case of unsound banking and has no other significance," the secretary said. He added that the receivership for this institution removed a long standing "sore spot" in the Pittsburg situation, leaving the general condition in that city sound. The secretary will make a sweeping investigation of the causes of the failure of the big bank and probably will call upon the department of justice to assist the treasury in unearthing any possible irregularities in connection with the collapse. It developed tonight that one fact which drew the critical attention and suspicion of the treasury department to the bank's condition was a discrepancy of nearly $2,000,000 between the sworn report to the comptroller of the currency as to the bank's condition on June 4, and what should have been a true copy of this report published by the bank in the newspapers of Pittsburg. The law requires every bank to publish its reports to the comptroller of the currency in response to his call in local newspapers so the public may know the facts. The report to the comptroller showed assets and liabilities aggregating $39,997,347.10 each, while as given to the Pittsburg newspapers for publication the report placed these totals at $38,103,886.30, the $1,893,460.71 difference representing rdiscounts or borrowed money Officials declared that this was illegal. Capital Impaired Reports to the department indicated that one-third of the $3,400,000 capital stock of the bank has been impaired and that the surplus and profits have been wiped out. While details are lacking estimated based upon the last report to the comptroller of the curreney, indicate that at this rate the losses might reach $3,000,000. Secretary McAdoo issued this statement: "The acting comptroller of the curreney took charge of the First-Second National bank of Pittsburg today because its directors at a meeting held in Pittsburg yesterday expressed their inability to make good an impairment of its capital and decided that the wise thing for all interests was for the acting comptroller to take the situation in hand. The Pittsburg clearing house association, which has had the matter under consideration for several days, had, in the meantime, also decided that it was inexpedient to furnish the amount of assistance required to keep the bank going. "This bank. which was handed down from the last administration, has for some time been a sore spot in the local situation, and its liquidation became inevitable. "The Kuhns of Pittsburg were interested in the First-Second National bank and also in the First National bank of McKeesport. The latter also closed its doors as a result of the former's failure. The general banking condition in Pittsburg is sound, and no further trouble with banks is expected. The acting comptroller had no alternative in the circumstances but to take in charge of the First-Second National bank, order to prevent the withdrawal of large deposits, which had already begun, and to secure for the small depositors equal treatment with the large ones, Everything will be done by the acting comptroller to further prompt liquidation of the bank's assets so that the depositors may be paid with the least possible delay. 'The recent reports of the national banks to the comptroller of the currency show a sound and strong condition throughout the country. The failure of the Pittsburg bank is simply a sporadic case of unsound banking and has no other significance." The critical eyes of government examiners had been on the First National bank of Pittsburg for several years and on the consolidated First-Second ever since the amalgamation in March. Suspicion was increased when it was discovered by the 4 call of the comptroller of the eurJune that the legal reserve of the instirency was deficit by $2,145,000 and that tution statement of condition of the bank as presented the to the comptroller and as published in the newspapers were different. The sworn reports submitted to the comptroller on June 4 showed resources and liabilities as follows: Loans Resources: and discounts, $17,237,812.54. United States and other bonds and securities, $11,039,479.30 Real estate owned, $1,718,732.69 Due from banks and bankers, $6,712,255.04. Cash and cash items. $3,106,567.52. Redemption fund and other amounts due from United treasurer, $182,500. Total, $39,997,347.10. Liabilities: Capital stock. $3,400,000. Surplus and profits, $1,960,068.45 Circulation notes, $1,882,900. Due to hanks and hankora

9. July 9, 1913 The Wheeling Intelligencer Wheeling, WV
Article from The Wheeling Intelligencer, July 9, 1913

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BANK CONDITIONS NOW NORMAL PITTSBURGH BANKERS OPTIMISTIC AS RESULT OF STATEMENT OF SECRETARY M'ADOO. Situation Has Clarified to the Extent That Offers of Assistsistance Have All Been Declined. PITTSBURGH, Pa., July 8.-To the decisive and sharp-cut statement of Secretary of the Treasury McAdoo, issued last night, is attributed the res. toration of almost normal conditions in financial Pittsburgh to-night, despite the closng of the doors of the First Second National Bank yesterday, an institution that had been accredited one of the strongest in the country. While the situation was tense in the financial world yesterday, and little information as to possible developments was obtainable. the flat state ment of facts of the Secretary of the Treasury served to develop an overnight optimism that grew in magnitude as to-day advanced. The closing of the First-Second was naturally followed by suspension of its affiliated banks. the First National of McKeesport and the appointment of receiverships for the banking house of J. S & W S. Kuhn, Inc. whose principals were the majority stock. holders of both institutions and a like action with the American Water Works & Guarantee Company, an enterprise fathered by the Kuhn interests. Another Kuhn interest that was atfected, the Pittsburgh Bank for Savings suffered somewhat from the complication. a run being started on it yesterday, chiefly by small depositors This was continued to somewhat greater magnitude early today but it appeared to abate as the day wore on. Crowds assembled about the bank building, and the sidewalk about the building was roped off. with mounted police prancing their horses within the lines of the sidewalk The crowds were forced outside the ropes into the middle of the street, where they soon filtered away to be replaced by others, most of whom event. ually proved to be the curious specta(Continued on Page Eight.)

10. July 9, 1913 Las Vegas Optic Las Vegas, NM
Article from Las Vegas Optic, July 9, 1913

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RUN STILL CONTINUES Pittsburgh, July 9.-When the Pittsburgh Bank for Savings opened for business this morning the run that was started on Monday upon the closing of the doors of the FirstSecond National bank was resumed but not in such volume as on the two preceding days. Police regulations continued to be maintained and all the receiving windows were thrown open for the use of those desiring to withdraw. Those who came to deposit found much difficulty in being waited on quickly and complaint from these, President W. J. Jones said, was a démonstration of the confidence in the bank.

11. July 10, 1913 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, July 10, 1913

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To Await Report Washington, July 9.-Secretary MeAdoo tonight decided to await the report of the national bank examiner, Samuel Hann, who has been investigating the failed First-Second National bank of Pittsburg, before calling upon Attorney General McReynolds to take up the question of whether the national bank act was violated in any of the operations of the institution. Immediate reference of the situation to the department of justice was considered by the treasury department early in the day, but this plan was changed to conform to the usual procedure. Examiner Hann expected to leave Pittsburg Saturday night for Baltimore -his regular station-to prepare a report to Thomas P. Kane, acting comptroller of the currency, on the results of the inspection of the books of the bank made by himself and Examiner Sherrill Smith. A copy of this report will be furnished, according to present plans, to Attorney General McReynolds and United States Attorney Jordan of Pittsburg. Chairman McKnight of the Pittsburg Clearing House association advised Mr. Kane over the long distance telephone late today that the banking conditions in Pittsburg were clearing up satisfactorily. He said the run on the Pittsburg bank for savings had practically subsided and that some of the money withdrawn was coming back. National Bank Examiner Williams, in charge of the First National bank of McKeesport, Pa., which closed its doors simultaneously with the Pittsburg bank, reported that arrangements were being made to resume business within a week.

12. July 10, 1913 The Richmond Virginian Richmond, VA
Article from The Richmond Virginian, July 10, 1913

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PITTSBURG'S BANK SITUATION SHOWS BIG IMPROVEMENT Run on Bank for Savings Heavy in Forenoon But Checked PUBLIC CONFIDENCE MAY BE RESTORED Optimistic Statement of Treasury Officials Seem to Bear Fruit---Kuhn Refuses to Talk PITTSBURG, July 9.-Pittsburg's bank situation tonight is on the mend. This much is admitted on all sides by men who are familiar with the local financial situation. Whether public confidence can be restored with the optimistic statements which are being daily issued by the clearing house, banking officials, and the government officials, remains to be seen. That little confidence had been placed in these optimistic forecasts over night was evident when the Pittsburg Bank for Savings opened its doors this morning. As early as 8 o'clock depositors began to gather around the bank. As the morning grew on, the hordes of eager, anxious depositors, began to grow, and the lines to lengthen. When the big heavy bronze doors of the bank were thrown open there was a fearful crush and for a time the police were kept busy. Clerks Kept Busy. Inside the high domed room a double force of clerks were working like beavers, counting out the sums of money, great and small, as the depositors stopped at the grated windows and then passed slowly out of the bank. By 1 o'clock the waiting lines outside the bank had been shortened and an hour later had entirely disappeared. Although the clerks were kept busy paying out money until 3 o'clock the closing hour, it was evident that the run had been materially checked, if not altogether abandoned. Met by anxious inquiries from all sides, W. S. Kuhn, who arrived here at 8 o'clock this morning, from his summer residence in Massachusetts, quickly sought his home and remained there all day. He refused to talk about the present financial difficulties which have involved his firm, several banks. and many big enterprises, 80 deeply. Soon after the arrival of Mr. Kuhn an application was filed in the United States District court for receivers for six big coal companies, all subsidiaries of the American Waterworks and Gas company. Among these was the United Coal company. a $4,000,000 corporation. Regarding the information received here from Washington forecasting an investigation by the department of justice into the failure of First-Second National bank, United States Attorney John H. Jordan said today that he had not been consulted as yet by the department of justice. Capital Wiped Out. It was admitted today by the bank's examiners, who are at work on the accounts of the bank, that the capital and surplus, which approximates $5,500,000, had been wiped out, and while the denesitora will probably be

13. July 10, 1913 Semi-Weekly Herald Durango, CO
Article from Semi-Weekly Herald, July 10, 1913

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BANKING OUTLOOK IS BETTER United Press PITTSBURG, July 9.-The bank situation is clearing. W. S. Kuhn has returned from the east and is assisting in the straightening out of affairs. It is expected that all depositors will be paid in full. The board of directors of the First-Second National bank will be reorganized and Kuhn's interest eliminated. The government is investigating the charges of "dummy" loans made. A receivership is asked by the Federal Court for six subsidaries of the American Water Works and Guaranty Company.

14. July 10, 1913 The Times Dispatch Richmond, VA
Article from The Times Dispatch, July 10, 1913

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Startling Disclosures, [Special to The Times-Dispatch.] Washington, July 9.-Startling evidence of criminal mismanagement of the First-Second National Bank of Pittsburgh is believed to have been brought here to-day by Comptroller of the Currency T. R. Kane as the result of a personal investigation of the bank's affairs. Mr. Kane laid before Secretary of the Treasury McAdoo facts which, It is reported, show conclusively that many large loans were made to clerks, stenographers and bookkeepers in the bank. and other dummies. The secretary refused to make these facts public, but immediately communicated some of the more serious ones to the Department of Justice. Treasury officials seem confident that criminal prosecutions will soon be begun, but whether against W. S. and J. S. Kuhn, president and director, respectively, of the wrecked institution, will depend upon further developments. National bank examiners are still at work on the books, and until they report fully, no criminal proceedings will be started. Attorney-General McReynolds's agents are, however, already trying to trace the responsibility for the conditions which have been brought to his attention. After a conference with Comptroller Kane, Secretary McAdoo said: "There is every reason to believe that many large loans were made by the First-Second National Bank to dummies in the office, and the Department of Justice is informed of certain facts, It is for the Attorney-General to say whether any of these irregularities are criminal. "Mr. Kane assures me that the situation in Pittsburgh is clearing up rapidly. The failure is regarded by many financial men of that city as a sort of blessing in disguise, because it has put an end to conditions which had threatened for months to become serious and create panicky conditions." "The First-Second National Bank should have been closed instead of mergal last spring." was a startling statement made by Comptrolled Kane on his return here. He gave no reasons further than to refer to the condition of the bank for the past two years. That the Kuhns must withdraw their interests from the First National Bank of McKeesport, Pa., before It can be reopened is the determination already reached by treasury officials. The run on this Institution was caused solely, it is said, by the connection of the Kuhns with it.

15. July 10, 1913 The Hattiesburg News Hattiesburg, MS
Article from The Hattiesburg News, July 10, 1913

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M'ADOO AWAITS HAHN'S REPORT WILL THEN TAKE UP WITH M'REYNOLDS QUESTION OF INVESTIGATING BANK FAILURE. Washington, July 10.-Secretary McAdoo last night decided to await the report of the National Bank Examiner, Samuel Hann, who has been investigating the failed First-Second National Bank of Pittsburg, before calling upon Attorney General McReynolds to take up the question of whether the national bank act was violated in any of the operations of the institution. Immediate reference of the situation to the Department of Justice was considered by the Treasury Department early in the day, but this plan was changed to conform to the usual procedure. Examiner Hann expected to leave Pittsburg Saturday night for Baltimore-his regular station-to prepare a report to Thomas P. Kane, acting Comptroller of the Currency, on the results of the inspection of the books of the banks made by himself and Examiner Smith. A copy of this report will be furnished according to present plans, to Attorney General McReynolds and United States Attorney Jordan of Pittsburg. Chairman McKnight, of the Pittsburg clearing house association, advised Mr. Kane late yesterday that the banking conditions in Pittsburg were clearing up satisfactorily. He said the run on the Pittsburg Bank for Savings has practically subsided and that some of the money withdrawn was coming back. National Bank Examiner Williams, in charge of the First National Bank of McKeesport, which closed its doors simultaneously with the Pittsburg bank, reported that arrangements were being made to resume business within a week.

16. July 11, 1913 The Lancaster News Lancaster, SC
Article from The Lancaster News, July 11, 1913

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WAITS EXAMINER'S REPORT. McAdoo Not Yet .Ready to Set McReynolds on Pittsburg Bank. Washington, July 9.- Secretary McAdoo to-night decided to await the report of the national bank examiner, Samuel Hann, who has been investigating the failed First-Second National Bank, of Fittsburg, before calling upon Attorney General McReynolds to take up the question of whether the National Bank Act was violated in any of the operation of the institution. Immediate reference of the situation to the department of justice was considered by the treasury department early in the day, but this plan was changed to conform to the usual procedure. Examiner Hann expected to leave Pittsburg Saturday night for Baltimore, his regular station to prepare a report to Thomas P. Kane, acting comptroller of the currency, on the results of the inspection of the books of the bank made by himself and Examiner Sherrill Smith. A copy of this report will be furnished according to present plans, to Attorney General McReynolds and United States Attorney Jordan of Pittsburg. Chairman McKnight of the Pittsburg Clearing House Association, advised Mr. Kane, over the long distance telephone, late today that the banking conditions in Pittsburg were clearing up satisfacttorily. He said the run on the Pittsburg bank for saving had practically subsided and that some of the money withdrawn was coming back. National Bank Examiner Williams, in charge of the First National Bank, of McKeesport, Pa, with the Pittsburg bank, reported that arrangements were being made to resume business within a week.

17. July 14, 1913 The Richmond Virginian Richmond, VA
Article from The Richmond Virginian, July 14, 1913

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THINKS PITTSBURG BANK MISMANAGED ACTING CONTROLLER OF OURRENOY KANE SAYS REPORT IS BEING FRAMED. ACTION MAY BE TAKEN FORMER CONTROLLER MURRAY SAYS CARE WAS USED IN APPROVING PLANS FOR MERGER. WASHINGTON, July 13.-The report of special examiners as to indications of criminal violations of law found in the First-Second National bank is now in the course of preparation by them, according to ActIng Controller of the Currency Kane. It will be referred to the department of justice as soon as completed. "Until this is done no one has authority to say what prosecutions may be undertaken. Such information would come from the department of justice rather than from this office," said Mr. Kane. Responsibility Not Fixed. That the bank was grossly mismanaged. he says, is beyond a doubt. No attempt to pass upon the conduct of President James S. Kuhn and Vice-President W. S. Kuhn, he states. or of any other official or director of the wrecked institution has been made by the office of the controller of the currency. Nor has it been attempted to fix responsibility for the failure of the bank before the complete records have been received. "While the First National bank of Pittsburg was known to have been in an unsatisfactory condition," continued Mr. Kane, "the action of the former controller in approving its consolidation with the Second National bank gave color to the presumption that its trouble had been cleaned up, and under the circumstances this office did not feel justified in refusing to approve the FirstSecond National bank as reserve agent for other banks. "It was for the purpose of determining what the true condition was that the examination of the FirstSecond National bank by Examiners Mann and Smith was ordered by me. and the extent of the losses and the inability of the directors and shareholders to make them good did not become known to me until a conference was had with the examiners and directors of the bank in Pittsburg a week ago. In Criminal Cases. "Examiners and receivers of national banks and instructed. whenever they find conditions indicating criminal acts on the part of officers or employes of banking institutions, to make a special report of such indications to the controller of the currencq. Wherever the facts disclose close conditions of such character as to warrant immediate action they are required to furnish the ditrict attorney for the district in which the bank is located with a copy of this report in order that the department of justice may take such action as it deems proper under the circumstances. "In the event that exaxminers' reports do not furnish a complete case against the suspected officer, director or employe. the department of justice assigns a special agent to make a further investigation and report. The department of justice acts upon the finding of such agent. "It is not within the province of the

18. July 24, 1913 Evening Star Washington, DC
Article from Evening Star, July 24, 1913

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# Fisher Here in Bank's Interests. Walter L. Fisher of Chicago, former Secretary of the Interior, arrived in Washington today. He said at the Shoreham Hotel, where he is staying, that he came on business connected with the First-Second National Bbank of Pittsburgh, which recently went into the hands of a receiver. Mr. Fisher represents one of the stockholders of the bank.

19. October 29, 1913 The Evening World New York, NY
Article from The Evening World, October 29, 1913

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# Chase Bank Sued for $100,000. Suit has been entered in the United States District Court against the Chase National Bank by Receiver Murray of the First-Second National Bank of Pittsburgh to recover $100,000. In his complaint Murray charges that the Chase Bank entered into a conspiracy with the Westinghouse Electric and Manufacturing Company to evade payment of $100,000, which, according to the plaintiff, is due to the Pittsburgh bank on a note transaction.

20. November 11, 1913 The Twin Falls Times Twin Falls, ID
Article from The Twin Falls Times, November 11, 1913

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KUHNS' BANK READY TO OPEN Plans Practically Approved and All Conditions Favorable. Everything is now favorable in connection with the financial condition of the American Water Works & Guaranty company, and it is expected that the receivership will be lifted soon. The above is the statement made Thursday evening by D. C. MacWatters, vice president and general manager of the Kuhn interests in Idaho, while in the city from Milner. Mr. MacWatters said that the reports he had received from the east were encouraging. The plan proposed by Bank Commissioner Murray of Pennsvlvania for the reopening of the First-Second National bank of Pittsburg has been approved by the board of directors and Comptroller of the Currency Kane. Tt will be necessary to secure the consent of 1500 stockholders. Ninety por cent of the number have androved the plan to date and no objections have been met thus far. It is fully expected that all the stockholders will approve the plan and that the bank will be opened in 30 days.-Statesman.

21. January 9, 1914 The Twin Falls Times Twin Falls, ID
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of the American Guaranty & Water company when the First-Second National bank of Pittsburg was closed by the comptroller of the currency. "The work which was started by the Kuhns on new irrigation projects in Idaho prior to the receivership is being completed. The Crane Creek project and the Sunnyside project, both in the vicinity of Weiser, are being pushed to completion at this time. The bonds upon these two projects were taken by Missouri and Kansas bankers who visited the land and were favorably impressed with the irrigation possibilities."-Statesman.

22. April 11, 1914 Evening Star Washington, DC
Article from Evening Star, April 11, 1914

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WANT TO REOPEN BANK. Representatives of First-Second National, Pittsburgh, Present Request. Representatives of the First-Second National Bank of Pittsburgh, put in a receiver's hands last July, conferred yesterday with M. C. Elliott, attorney for the controller of the currency, in charge of insolvent national banks, with a view to obtaining consent to reopen that institution. No decision was reached at the conference, but it was predicted that the FirstSecond will be permitted to reopen shortly. There has been a long-continued effort on the part of Pittsburghers interested to reopen the bank, but heretofore it has been prevented. Charles Starek, national bank examiner in the New York city district, recently was sent to Pittsburgh by Controller Williams to try to straighten out the tangle.

23. April 12, 1914 The Washington Herald Washington, DC
Article from The Washington Herald, April 12, 1914

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FIRST-SECOND BANK TO REOPEN Pittsburgh Institution Will Pay Off Old Indebtedness. Within a week the First-Second National Bank of Pittsburgh will be given permission by Comptroller of the Currency Williams to open its doors to conduct a banking business. Mr. Williams yesterday said affairs were in such good shape that the bank will be able to pay off all its old indebtedness under the reorganization plan and will start business with a capital of $4,000,000, and surplus of $1,000,000. Mr. Williams had a conference with Pittsburgh bank officials who represented the creditors and stockholders of the First-Second bank and they have returned to Pittsburgh, Mr. Williams said, with the assurance that the Treasury Department is in full accord with the reorganization plan. Only a few legal matters need to be straightened out and C. C. Murray, receiver for the Pittsburgh institution, will remain in Washington until these matters have been satisfactorily adjusted. The bank closed its doors last July with a loss of approximately $5,000,000.

24. April 26, 1914 Evening Star Washington, DC
Article from Evening Star, April 26, 1914

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BANK REOPENS DOORS. First-Second National of Pittsburgh Resumes Business. John Skelton Williams, controller of the currency, announced yesterday that the First-Second National Bank of Pittsburgh would reopen for business tomorrow with a new management and new board of directors. The capital of the reorganized bank is $4,000,000, with a surplus of $950,000. Controller Williams said "the receiver is turning over to the reorganized bank all the assets and property in his charge. The government is redepositing the balance of funds collected for its account since it closed its doors in July, last, amounting to more than $12,700,000. The First-Second National Bank of Pittsburgh, in deposits and total liabili-