19312. German National Bank (Pittsburg, PA)

Bank Information

Episode Type: Run → Suspension → Reopening
Bank Type: national
Bank ID: 757
Charter Number: 757
Start Date: October 19, 1898
Location: Pittsburg, Pennsylvania (40.441, -79.996)

Metadata

Model: gpt-5-mini
Short Digest: 26842e7b

Response Measures

Full suspension, Books examined

Other: Comptroller appointed temporary receivers later to protect against creditor levies; stockholder assessment proposed for reopening.

Description

Deposit withdrawals followed the failure/financial collapse of President Adolph Groetzinger; directors closed the bank for voluntary liquidation in Oct 1898. Comptroller appointed temporary receivers Nov 4, 1898, but conditions for reopening were set and the bank resumed business Jan 24, 1899, paying depositors in full. OCR minor variations in spelling (Groetzinger/Goetsinger/Bargdorff) noted in articles.

Events (4)

1. October 19, 1898 Run

Cause: Bank Specific Adverse Info
Cause Details: Failure/financial entanglements of President Adolph Groetzinger (heavy judgments, executions), plus losses from Natalie Coal & Coke Co. securities and large loans on insufficient collateral; his failure precipitated depositor withdrawals.
Measures: Directors closed the doors and went into voluntary liquidation; clearing house committee agreed; bank examiner Hugh Young placed in charge.
Newspaper Excerpt: the failure of Mr. Adolph Groetzinger, the president of the bank, resulted in a run
Source: newspapers

2. October 19, 1898 Suspension

Cause: Voluntary Liquidation
Cause Details: Directors suspended payments and went into voluntary liquidation following the run and the president's financial failure; cited heavy holdings in Natalie Coal & Coke Co. and poor collateral on loans.
Newspaper Excerpt: the directors closed the doors for the purpose of voluntary liquidation. The clearing house committee agreed with the directors
Source: newspapers

3. November 4, 1898 Other

Newspaper Excerpt: Charles G. Dawes, comptroller of the currency has, today, appointed the bank examiners of Pittsburg ... temporary receivers of the German National bank of Pittsburg ... This action ... will not interfere ... with the efforts of the officers ... to put these banks into condition for voluntary liquidation and the comptroller announces that he will consent to the voluntary liquidation ... and will discharge the receivers when assured of the ability of the banks to meet their obligations in full, promised by their committee.
Source: newspapers

4. January 24, 1899 Reopening

Newspaper Excerpt: The German national bank, which suspended payment on Oct. 18 last, will resume business to-day ... There is enough cash on hand to pay every dollar the bank owes ... All claims will be paid on demand. On open accounts six per cent. interest will be paid from the date of suspension.
Source: newspapers

Newspaper Articles (21)

1. October 19, 1898 Albuquerque Daily Citizen Albuquerque, NM

Article from Albuquerque Daily Citizen, October 19, 1898

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BIG BANK FAILURE. One of the Pittsburg National Banks Closes Its Doors. Great Activity in the French Naval Arsenal at Toulon. Death of Chicago's Famous Police Inspector, John Boufield. HEALTH OF A CHINESE EMPEROR. Pittsburg, Oct. 19.-The German National bank has gone into voluntary liquidation. The suspension can be traced to two causes, the carrying of too many securities of the Natalie Coal and Coke Co., and large loans on insufficient collateral. The final stroke was the confession of heavy judgments by Adolphus, William C. and O. H. Groetzinger and A. Grcetzinger & Son to Edward Groetzinger and the issuance of executions. A Groetzinger was president. His financial troubles, it is said, was caused principally by the failure of the Munson Belting company in Chicago last week. Since its organization in 1884, the bank has paid nearly a million dollars in dividends. September 27. when the last statement of the bank was published, the surplus had been reduced from $500,000 to $250,000. The bank examiner had ordered that the paper of the Natalie Coal company should be deducted from the surplus and it had to be done. The last statement showed individual deposits of $1,650,000; loans and discounts. $1,158,000; capital stock paid in $250,000. Bank Examiner Young says that the securities held by the bank is ample to pay depositors dollar for dollar.

2. October 19, 1898 The Topeka State Journal Topeka, KS

Article from The Topeka State Journal, October 19, 1898

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BIG BANK CLOSED. German National of Pittsburg, Pa., in Hands of Examiner. Pittsburg, Oct. 19.-Notwithstanding the rumors that have been afloat for some time concerning the financial straits of the Gorman National bank of this city, the announcement this morning that the bank had gone into voluntary liquidation, caused great surprise and many depositors hurried to the bank to find the doors closed. Outside a small crowd assembled, but there was no excitement. The suspension of the bank can be traced directly to two reasons: the carrying of too many securities of the Natalie Coal & Coke company and large loans on insufficient collateral. The beginning of the difficulty wasnearly a year ago when the Natalie company's paper became the object of much intricate litigation, in which the German National bank figured. This was followed a few weeks ago by the sudden retirement of Otto Bargdorff as cashier. The final stroke was the confession of heavy judgments by Adolphus, William C. and O. H. Groetsinger and A. Groetsinger & Sons to Edward Groetsinger and the issuance yesterday of executions. A. Groetsinger was president of the bank and his financial troubles, it is said, were caused principally by the failure of the Munson Belting company, in Chicago, last week. Other heavy losses are said to have been sustained, but it was supposed the large personal wealth of the family would enable the firm to tide over the difficulty. It is said that some time ago the Goetsingers were awarded a contract for many thousand shoe soles by an eastern firm, but through a misunderstanding of orders, singles instead of pairs were made and on this transaction alone $90,000 was lost. The German National bank was organized in 1864 and reorganized in 1884. At the beginning of the present year, its capital stock was $250,000, surplus $500,000 and undivided profits $2,208.17. Last year it was paying dividends at the rate of 12 per cent per annum and since its organization has paid nearly a million dollars in dividends. About the middle of September there were rumors of the bank's weakness caused by the resignation of Otto Bargdorff, for a long time cashier of the institution. September 27, when the last statement of the bank was published these rumors were revived, as it was seen that the bank's surplus had been reduced from $500,000 to $250,000. This reduction was explained by President Groetsinger at the time as being caused by the interest carried by the bank in the Natalie Coal company. The bank examiner had ordered the paper of the coal company deducted from the surplus and it had to be done. Since Mr. Bargdorff first resigned thfeformerassistant cashier,J. H.E. Wessler.hasacted as cashier. The gossip about the bank's affairs never subsided and it was claimed today that many of the most wary depositors have been withdrawing their money. Others have been content to await the next report, to see if the surplus would be still further reduced, if that were legal. The last statement showed individual deposits of $1,650,000; loans and discounts $1,158,000. Capital stock paid in $250,000; sruplus fund $250,000. It was rumored that the state treasurer had $450,000 on deposit in the bank. but this was denied by the directors. They stated that the deposit had been reduced, if not entirely eliminated, since James S. Beacom became state treasurer. Bank Examiner Young is now in charge. He says the securities held by the bank are ample to pay all depositors dollar for dollar.

3. October 20, 1898 Evening Star Washington, DC

Article from Evening Star, October 20, 1898

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The Pittsburg Bank Failure. Bank Examiner Young has reported to the controller of the currency that, in his judgment, the German National Bank of Pittsburg, which closed its doors Tuesday, is solvent. The report states that the failure of Mr. Adolph Groetzinger, the president of the bank, resulted in a run, and the directors closed the doors for the purpose of voluntary liquidation. The clearing house committee agreed with the directors that this was the best thing to do, and the suspension followed. The capital of the bank is $250,000, and at the time of the last report, September 30, the surplus amounted to $253,347; due individual depositors, $1,730,688; due national banks and bankers, $359,123; total resources, $2,637,708.

4. October 20, 1898 New-York Tribune New York, NY

Article from New-York Tribune, October 20, 1898

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PITTSBURG BANK FAILS. VOLUNTARY LIQUIDATION OF THE GERMAN NATIONAL INSTITUTION-FINANCIAL DIFFICULTIES OF THE PRESIDENT. Pittsburg, Oct. 19.-Notwithstanding the rumors that have been afloat for some time concerning the financial straits of the German National Bank of this city, the announcement this morning that the bank had gone into voluntary liquidation caused great surprise, and many depositors hurried to the bank to find the doors closed. The suspension of the bank can be traced directly to two causes, the carrying of too many securities of the Natalie Coal and Coke Company and large loans on insufficient collateral. The beginning of the difficulty was nearly a year ago, when the Natalie company's paper became the object of much intricate litigation, in which the German National Bank figured. This was followed a few weeks ago by the sudden retirement of O. C. Burgdorff as cashier. The final stroke was the confession of heavy judgments by Adolphus, William C. and O. H. Groetzinger, and A. Groetzinger & Sons to Edward Groetzinger, and the issuance yesterday of executions. A Groetzinger was president of the bank, and his financial troubles, it is said, were caused principally by the failure of the Munson Belting Company, in Chicago, last week. Other heavy losses are said to have been sustained, but it was supposed the large personal wealth of the family would enable the firm to tide over the difficulty. It is said that some time ago the Groetzingers secured a contract for many thousand shoe soles from an Eastern firm, but through a misunderstanding of orders singles instead of pairs were made, and on this transaction alone $90,000 was lost. The German National Bank was organized in 1864 and reorganized in 1884. At the beginning of the present year its capital stock was $250,000; surplus, $500,000, and undivided profits, $2,208 17. Last year it was paying dividends at the rate of 12 per cent per annum, and since its organization it has paid nearly $1,000,000 in dividends. It was rumored that the State Treasurer had $450,000 on deposit in the bank, but this was denied by the directors. Washington, Oct. 19.-Bank Examiner Young has reported to the Controller of the Currency that in his judgment th German National Bank of Pittsburg, which closed its doors yesterday, is solvent. The report states that the failure of Adolphus Groetzinger, the president of the bank. resulted in a run, and the directors closed the doors for the purpose of voluntary liquidation. The Clearing House Committee agreed with the directors that this was the best thing to do. The capital of the bank is $250,000. and at the time of the last report, September 30. the surplus amounted to $253,347 due individual depositors, $1,730,688; due National banks and bankers, $359,123; total resources, $2,637,708. The correspondents in this city of the German National Bank of Pittsburg are the National City, Hanover National and Importers and Traders' National banks. As far as could be learned, all are amply protected against loss through the failure.

5. October 20, 1898 The Evening Herald Shenandoah, PA

Article from The Evening Herald, October 20, 1898

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German National Bank Solvent. Washington, Oct. 20.-Bank Examiner Young has reported to the comptroller of the currency that in his judgment the German National bank, of Pittsburg, which closed its doors on Tuesday, is solvent. The report states that the failure of Mr. Adolph Groetsinger, the president of the bank, resulted in a run, and the directors closed the doors for the purpose of voluntary liquidation. The clearing house committee agreed with the directors that this was the best thing to do, and the suspension followed.

6. October 20, 1898 Barre Evening Telegram Barre, VT

Article from Barre Evening Telegram, October 20, 1898

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GERMAN BANK FAILURE Causes of the Collapse of Pittsburg Institution. LOANSON POOR COLLATERAL Bank Examiner In Charge Says Depositors will Be Paid Dollar For Dollar-Rumors of Weakness Long Current. Pittsburg, Oct. 20.-Notwithstanding the rumors that have been afloat for some time concerning the financial straits of the German National bank of this city, the announcement that the bank had gone into voluntary liquidation caused great surprise, and many depositors hurried to the bank to find the doors closed. Outside a small crowd assembled, but there was no excitement. The suspension of the bank can be traced directly to two causes, the carrying of too many securities of the Natalie Coal and Coke company and large loans on insufficient collateral. The beginning of the difficulty was nearly a year ago, when the Natalie company's paper became the object of much intricate litigation, in which the German National bank figured. This was followed a few weeks ago by the sudden retirement of O. C. Burgdorf as cashier. The final stroke was the confession of heavy judgments by Adolphus, William C. and O. H. Groetzinger and A. Groetzinger & Sons to Edward Groetzinger, and the issuance Tuesday of executions. A. Groetzinger was president of the bank, and his financial troubles, it is said, were caused principally by the failure of the Munson Belting company, in Chicago, last week. Other heavy losses are said to have been sustained, but it was supposed the large personal wealth of the family would enable the firm to tide over the difficulty. The bank was organized in 1864 and reorganized in 1884. At the beginning of the present year its capital stock was $250,000; surplus, $500,000, and undivided profits, $2,208.17. Last year it was paying dividends at the rate of 12 per cent per annum, and since its organization has paid nearly $1,000,000 in dividends. Rumors of Weakness. About the middle of September there were rumors of the bank's weakness, caused by the resignation at that time of O. C. Burgdorf, for a long time cashier of the institution. Sept. 27, when the statement of the bank was published, these rumors were revived, as it was seen that the bank's surplus had been reduced from $500,000 to $250,000. This reduction was explained by President Groetzinger at the time as being caused by the interest carried by the bank in the Natalie Coal company. The bank examiner had ordered the paper of the coal company deducted from the surplus, and it had to be done. Since Mr. Burgdorf's resignation the assistant cashier, J. H. E. Wessler, has acted as cashier. The gossip about the bank's affairs never subsided, and it is now claimed that many of the most wary depositors have been withdrawing their money. Others have been content to await the next report to see if the surplus would be still further reduced. if that were legal. The last statement showed individual deposits of $1.650.000; loans and discounts, $1,158,000; capital stock paid in, $250,000; surplus fund. $250,000. It was rumored that the state treasurer had $450,000 on deposit in the bank. but this was denied by the directors. They stated that the deposit had been reduced, if not entirely eliminated, since James S. Beacom became state treasurer. Bank Examiner Young is now in charge. He says the securities held by the bank are ample to pay all depositors dollar w for dollar.

7. October 20, 1898 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, October 20, 1898

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BANK FAILURE IN PITTSBURG GERMAN NATIONAL COMPELLED TO CLOSE ITS DOORS. Business Entanglements of President Groetsinger Precipitate a RunBank Examiner In Charge. Pittsburg, Oct. 19.-Notwithstanding the rumors that have been afloat for some time concerning the financial straits of the German National Bank of this city, the announcement this morning that the bank has gone into voluntary liquidation caused great surprise and many depositors hurried to the bank to find the doors closed. A small crowd assembled, but there was no excitement. The suspension of the bank can be traced directly to two causes, the carrying of too many securities of the National Coal & Coke company, and large loans on collateral. The last statement showed individual deposits of $1,650,000; loans and discounts $1,158,000; capital stock paid in $250,000; surplus fund $250,000. It was rumored that the state treasurer had $450,000 on deposit in the bank, but this was denied by the directors. They stated that the deposit had been reduced, if not entirely eliminated since James S. Beacom became state treasurer. Bank Examiner Young is now in charge and has reported to the comptroller of the currency that in his judgment the bank is solvent. The report states that the failure of A. Groetsinger, the president of the bank, resulted in a run and the directors closed the doors for the purpose of voluntary liquidation. The clearing house committee agreed with the directors that this was the best thing to do and the suspension followed.

8. October 20, 1898 The Topeka State Journal Topeka, KS

Article from The Topeka State Journal, October 20, 1898

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WILL PAY OUT. German National of Pittsburg Said to Be Solvent. Washington, Oct. 20.-Bank Examiner Young has reported to the comptroller of the currency that in his judgment the German National bank of Pittsburg, which closed its doors is solvent. The report states that the failure of Mr. Adolph Groetzinger, the president of the bank, resulted in a run and the directors closed the doors, for the purpose of voluntary liquidation. The clearing house committee agreed with the directors that this was the best thing to do and the suspension followed. The capital of the bank is $250,000 and at the time of the last report, September 30, the surplus amounted to $253, 347; due individual depositors $1,730,688; due national banks and bankers $359,123; total resources $2,637,708.

9. October 22, 1898 Martinsburg Herald Martinsburg, WV

Article from Martinsburg Herald, October 22, 1898

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10. November 5, 1898 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, November 5, 1898

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AGAINST OTHER PROCEEDING BANKS. Washington, Novemebr 4. -Owing to the decision of Judge Lacombe of New York that an execution can be levied against the assets of a national bank in the bands f the comptroller of the currency at any time prior to his formal appointment of a receiver, and to the fact that suits are being prepared by others in New York against the Tradesmen's National bank in Pittsburg and against the German National bank for the purpo-e of levyin ex ecution and judgment which 5 ould, if Judge Lacomb's decision is upheld, prefer certain creditors to the damage of other creditors unjustly, Charles G. Dawes, comptroller of the currency has, today. appointed the bank examiners of Pittsburg and New York temporary receivers of the German National bank of Pit burg and the Tradesmen National bank of New York, re-pectively. This action on the part of the comptroller will not interfere in any way with the efforts of the officers of these institutions to put these banks into condition for voluntary liquidation and the comptroller announces that he will consent to the voluntary liquidation of these institutions and will discharge the receivers when assured of the ability of the banks to meet their obligations in full, promised by their committee.

11. November 5, 1898 The Wichita Daily Eagle Wichita, KS

Article from The Wichita Daily Eagle, November 5, 1898

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IT WOULD PREFER CREDITORS Comptroller Takes Steps to Neutralize Judge Lacomb's Decision Washington, D. C., Nov. 4.-Owing to the decision of Judge Lacombe, of New York, that an execution can be levied against the assets of a national bank in the hands of the comptroller of the currency at any time prior* to his formal appointment of a receiver, and to the fact that suits are being prepared by others in New York against the Tradesmen's National bank and in Pittsburg against the German National bank for the purpose of levying execution and judgment, which would, if Judge Lacombe's decision is upheld, prefer certain creditors, to the damage of other creditors, unjustly, Charles G. Dawes, comptroller of the currency, has today appointed the bank examiners of Pittsburg and New York to be temporary receivers of the German National bank of Pittsburg and the Tradesmen's National bank of New York, respectively. This action on the part of the comptroller will not interfere in any way with the efforts of the officers of these institutions to put these banks into condition for voluntary liquidation and the comptroller announces that he will consent to the voluntary liquidation of these institutions and will discharge the receivers when assured of the ability of the banks to meet their obligations in full, as promised by their comittees now making efforts to put the bank into condition, jusifying the comptroller in assenting to liquidation.

12. November 19, 1898 The Saint Paul Globe Saint Paul, MN

Article from The Saint Paul Globe, November 19, 1898

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Fate of a Bank. WASHINGTON, Nov. 18.-For the purpose of enabling him to decide more Intelligently the question of the selvency of the German National Bank of Pittsburg Comptroller Dawes has appointed a committee, consisting of John B. Jackson, president of of the Fidelity Title and Trust company, Pittsburg, and John W. McDonald, of Washington, as his personal representatives, and Hugh Young, national bank examiner of Pittsburg, to appraise carefully all the assets of the bank. Upon receiving the report the comptroller will decide as to whether there is any possibility of the bank going into voluntary liquidation or whether a permanent receiver shall be appointed.

13. December 18, 1898 Wheeling Sunday Register Wheeling, WV

Article from Wheeling Sunday Register, December 18, 1898

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GERMAN NATIONAL'S CONDITION. The Report to the Comptroller Shows a Shortage of $415,000 - Liabilities Amount to $1,662,088, or $415,000 More Than the Available Assets. WASHINGTON, December 17.-Mr. John W. McDonald, the personal representative of the comptroller, has returned with the report of the committee appointed to appraise the assets and examine the condition of the German National Bank of Pittsburg. Mr. Hugh Young, Mr. John B. Jackson and Mr. John W. McDonald comprised the committee, and they agree in their findings. The report shows as follows: "Leaving out the building, carried at $429,000; slow paper, perhaps largely good, $54,000, and the entire Groetzinger indebtedness of $243,000, the absolutely cash and speedily available assets lack $415,000 of enough to pay all liabilities, which amount to $1,662,083. "The directors believe that if the bank can be re-opened they can arrange to take the building for $400,000 cash. They wish to get an expression of the sentiment of the stockholders, and have therefore called a meeting of the shareholders for January 10, 1899, to vote on a proposition to recommend to the comptroller that he levy an assesment of 100 per cent., the amount necessary to make good the impairment of the capital stock, and allow the bank to re-open. "If the bank receives for the bank building $400,000 cash, it leaves a shortage, according to the committee, of only $15,000, which can be fully made up out of the $54,000 doubtful paper, leaving the new stock unimpaired, with all the Groetzinger paper for future realization. "The committee have estimated the $445,000 Natalie coal bonds at 35 cents, $155 750, at which price they can no doubt be sold. "The comptroller, after considering the report, has given the stockholders and directors of the bank until January 12 to determine whether or not they will meet the conditions he imposes for the reopening of the bank. The conditions are as follows: "The directors must relieve the bank of the bank building at a cash sum of not less than $400,000, and the stockholders must pay in, as an assessment, an additional sum of $250,000." If these conditions are not complied with by January 12 the comptroller will make an appointment of a permanent receiver.

14. January 7, 1899 The Cape Girardeau Democrat Cape Girardeau, MO

Article from The Cape Girardeau Democrat, January 7, 1899

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BANK FAILURES. Jan. 17-State, Elmwood, III $60,000. 24-National, Paola, Kan., suspended. 31 - First national, Larimore, N. D., $71,754. Feb. 21-Bank of Southern Baltimore, $170. 000. Mar. 16-Home savings, Sioux City, Ia., $60, 000 Benson savings, Waterford, Pa., $40,000. 24-Bank of Merriam Park, St. Paul, Minn. People's state, Philadelphia, nearly $1,000,000. 25-Guarantors' Finance Co., Philadelphia, $1,047,500. Jun. 7-Delaware national, Delhi, N. Y., $25,000. 29-Thomas J. Kirby, private, Abilene, Kan., $283,000. Jul. 20-Commercial state, Marshalltown, Ia. 21-German savings, Doon, Ia. $59,474 Northern, Lexington, Ky. (suspended). 23-Tawas savings, Tawas City, Mich. (suspended). Aug. -Bank of Waverly, Ill., $150,000. 27-Fillmore county, Preston, Minn., $150, 000. Sep. 14-D. F. Parsons, private, Burr Oak, Mich, $100,000. 15-Jasper, Ala., bank, $65,000. 26-Allegheny, at Clifton Forge, Va., liabilities, $50,000. Oct. 4-Tradesman's national, at New York, $2,000,000 due depositors. Liabilities placed at $3,800,000. 13-Tioga national, of Oswego, N. Y., closed. 19-First national of Neligh, Neb., liabiliGerman national of Pitts ties $108,000 burgh, Pa., liabiliteis, $2,000,000. 21-First national, of Lisbon, O., capital $50,000-closed; resumed on Nov. 15. 29-Second national, of Springfield, O., goes into liquidation. Nov. 5-First national, of Flushing_2., suspends. 16-First national, of Emporia, Kan., closed. 28-Bank of Hornersville, N. Y., closes doors with liabilities of $75,000. 30-Second national, of Teledo O., goesinto voluntary liquidation.

15. January 7, 1899 Perrysburg Journal Perrysburg, OH

Article from Perrysburg Journal, January 7, 1899

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BANK FAILURES. Jan. 17-State, Elmwood, III., $60,000. 24-National, Paola, Kan., suspended. -First national, Larimore, N. D., $71,754. Feb. 24-Bank of Southern Baltimore, $170.000. Mar. 16-Home savings, 8 Sioux City, Ia., $60,000 Benson savings, Waterford, Pa., $40,000. 24-Bank of Merriam Park, St. Paul, Minn. People's state, Philadelphia, nearly $1,000,000. 25-Guarantors' Finance Co., Philadelphia, $1,047,500. Jun. 7-Delaware national, Delhi, N. Y., $25,000. 29- l'homas J. Kirby, private, Abilene, Kan., $283,000. Jul. 20-Commercial state, Marshalltown, Ia. 21-German savings, Doon, la. $59,474 Northern, Lexington, Ky. (suspended). 23-Tawas savings, Tawas City, Mich. (suspended). Aug. 11-Bank of Waverly, III., $150,000. Fillmore county, Preston, Minn., $150,000. Sep. It-D. F. Parsons, private, Burr Oak, Mich., $100,000. 15-Jasper, Ala., bank, $65,000. 26-Allegheny, at Clifton Forge, Va., liabilities, $50,000. Oct. 4 -Tradesman's national, at New York, $2,000,000 due depositors. Liabilities placed at $3,800,000. 13-Tioga national, of Oswego, N. Y., closed. 19-First national of Neligh, Neb., liabiliGerman national of Pitts ties $108,000 burgh, Pa., liabiliteis, $2,000,000. 21-First national, of Lisbon, O., capital $50,000-closed; resumed on Nov. 15. 29 Second national, of Springfield, O., goes into liquidation. Nov. 5-First national, of Flushing., O., suspends. 16-First national, of Emporia, Kan., closed. 28-Bank of Hornersville, N. Y., closes doors with liabilities of $75,000. 30-Second national, of Toledo, O., goes into voluntary liquidation.

16. January 13, 1899 Barton County Democrat Great Bend, KS

Article from Barton County Democrat, January 13, 1899

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HAPPENINGS OF 1898. A Chronological Array of the Most Prominent Events. STORY OF SPANISH-AMERICAN WAR. Brief Mention of Financial Failures, Startling Oatastrophes and Crimes-Necrology of Year - Politics and Sport. / BANK FAILURES. Jan. 17-State, Elmwood, III., $60,000. 24-National, Paola, Kan., suspended. 31-First - national, Larimore, N. D., $71,754. Feb. 24-Bank of Southern Baltimore, $170,000. Mar. 16 Home savings, Sioux City, Ia., $60,000 Benson savings, Waterford, Pa., $40,000. 24-Bank of Merriam Park, St. Paul, Minn. People's state, Philadelphia, nearly $1,000,000. 25-Guarantors' Finance Co., Philadelphia, $1,047,500. Jun. 7-Delaware national, Delhi, N. Y., $25,000. 29-Thomas J. Kirby, private, Abilene, Kan., $283,000. Jul.20-Commercial state, Marshalltown, Ia. 21-German savings, Doon, la., $59,474 Northern, Lexington, Ky. (suspended). -Tawas savings, Tawas City, Mich. (suspended). Aug. 11-Bank of Waverly, Ill., $150,000. 27-Fillmore county, Preston, Minn., $150,000. Sep. 14-D. F. Parsons, private, Burr Oak, Mich., $100,000. 15-Jasper, Ala., bank, $65,000. 26-Allegheny, at Clifton Forge, Va., liabilities, $50,000. Oct. 4-Tradesman's national, at New York, $2,000,000 due depositors. Liabilities placed at $3,800,000. 13-Tioga national, of Oswego, N. Y., closed. 19-First national of Neligh, Neb., liabilities $108,000 German national of Pitts burgh, Pa., liabilities, $7,000,000. 21-First national, of Lisbon, O., capital $50,000-closed; resumed on Nov. 15. 29-Second national, of Springfield, O., goes into liquidation. Nov. 5-First national, of Flushing., O., suspends. 10-First national, of Emporia, Kan., closed. President suicides an hour later. 2S-Bank of Hornersville, N. Y., closes doors with liabilities of $75,000. S-Second national, of Toledo, O., goes into voluntary liquidation. Dec. 5-American savings, at Charleston, S. C., placed in hands of receiver. Liabilities, $100,000.

17. January 25, 1899 The True Northerner Paw Paw, MI

Article from The True Northerner, January 25, 1899

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Can Pay All It Owes. Pittsburgh, Pa., Jan. 23.-The German national bank, which suspended payment on October 18 last, will resume business to-day with a capital of $250,000. There is enough cash on hand to pay every dollar the bank owes ($1,300,000) and all claims will be paid on demand. On open accounts six per cent. interest will be paid from the date of suspension.

18. January 26, 1899 The Worthington Advance Worthington, MN

Article from The Worthington Advance, January 26, 1899

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THE EAST. While chasing a burglar Chief of Police Crow, of Somerville, N. J., was shot and fatally wounded. In the United States there were 249 business failures in the seven days ended on the 20th, against 318 the week previous and 374 in the corresponding period of 1898. During the week ended on the 20th the exchanges at the leading clearing houses in the United States aggregated $1,996,541,167, against- $1,940,605,370 the previous week. The increase compared with the corresponding week in 1898 was 40.8. In New York Rear Admiral Schley was presented with a jeweled sword by his brother members of the Royal Arcanum at Carnegie music hall. At the age of 80 years Rev. Arthur D. Bradford, United States consul-general at Amoy, China, under Abraham Lincoln, died near New Castle, Pa. In Ithaca, N. Y., Mrs. Mary Hine died at the age of 110 years. At Pittsburgh, Pa., the German national bank, which suspended payment on October 18 last, has resumed business, paying all creditors in full.

19. January 26, 1899 River Falls Journal River Falls, WI

Article from River Falls Journal, January 26, 1899

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THE EAST. Funeral services over the remains of Nelson Dingley, Jr., took place at Lewiston, Me. Fire destroyed the building occupied by Alfred J. Cammeyer, one of the largest retail shoe dealers in New York, the loss being $500,000. The important companies of the world engaged in the production of borax and boracic acid have joined in a trust. On account of a threatened strike all the collieries at Audenried and Honeybrook, Pa., were shut down, throwing 2,500 men out of employment. While chasing a burglar Chief of Police Crow, of Somerville, N. J., was shot and fatally wounded. In the United States there were 249 business failures in the seven daysended on the 20th, against 318 the week previous and 374 in the corresponding period of 1898. During the week ended on the 20th the exchanges at the leading clearing houses in the United States aggregated $1,996,541,167, against $1,940,605,370 the previous week. The increase compared with the corresponding week in 1898 was 40.8. In New York Rear Admiral Schley was presented with a jeweled sword by his brother members of the Royal Arcanum at Carnegie music hall. At the age of 80 years Rev. Arthur D. Bradford, United States consul-general at Amoy, China, under Abraham Lincoln, died near New Castle, Pa. In Ithaca, N. Y., Mrs. Mary Hine died at the age of 110 years. At Pittsburgh, Pa., the German national bank, which suspended payment on October 18 last, has resumed business, paying all creditors in full.

20. January 26, 1899 The Princeton Union Princeton, MN

Article from The Princeton Union, January 26, 1899

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Bank to Reopen. Pittsburg, Jan. 24.-The German National bank, which suspended payment on Oct. 18, will resume business to-day with a capital of $250,000. All claims will be paid on demand. On open accounts 6 per cent interest will be paid from the date of suspension.

21. January 26, 1899 The Stark County Democrat Canton, OH

Article from The Stark County Democrat, January 26, 1899

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Pittsburg Bank Resumed. PITTSBURG, Jan. 24.-The German National bank, which suspended payment on Oct. 18, resumed business with a capital of $250,000. There is enough cash on hand to pay every dollar the bank owes ($1,800,000), and all claims will be paid on demand. On open accounts 6 per cent interest will be paid from the date of suspension.