19320. Hamilton State Bank (Pittsburg, PA)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
September 26, 1931
Location
Pittsburg, Pennsylvania (40.441, -79.996)

Metadata

Model
gpt-5-mini
Short Digest
f9285f06

Response Measures

Full suspension

Other: Directors asked State Banking Department to take over; banks closed to protect depositors.

Description

Multiple contemporary accounts (Sept 26, 1931) report the Hamilton State Bank of Homewood (Pittsburg) failed to open and was closed after heavy withdrawals; directors asked the State Banking Department to take over. The bank is listed among insolvent/closed banks later in coverage, and remained closed into November (city auditors reference closed banks), so I classify this as a run that led to suspension and ultimate closure. OCR in some articles garbles text (e.g., 'Pittsburg' without final 'h' and fragmented figures); corrected obvious OCR errors when extracting dates and snippets.

Events (3)
1. September 26, 1931 Run
Cause Details
Heavy withdrawals (a depositor run) precipitated the bank's inability to open; articles do not attribute the run to a specific rumor or correspondent failure.
Measures
Directors asked the State Banking Department to take over; bank closed to protect depositors.
Newspaper Excerpt
Heavy withdrawals was held responsible for the action the boards of directors asking the Banking Department to take the...
Source
newspapers
2. September 26, 1931 Suspension
Cause
Government Action
Cause Details
Directors requested the State Banking Department to take over and the bank failed to open (suspended) following heavy withdrawals.
Newspaper Excerpt
Four state banks here failed to open today... the Hamilton State Bank of Homewood...
Source
newspapers
3. November 11, 1931 Other
Newspaper Excerpt
The Hamilton State Bank returned $15,000 in securities Monday. No records have been found to date to show the Franklin bank had posted protection for time deposits there.
Source
newspapers

Newspaper Articles (7)
1. September 26, 1931 St. Louis Post-Dispatch St. Louis, MO
Article from St. Louis Post-Dispatch, September 26, 1931

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Article Text

MORE BANKS SUSPEND; Deposits in One of Concerns Closing Today Listed at other, $3,269,677. By the Associated Press. Pa., Sept. Four state banks here failed to today, bringing to the numopen ber of Pittsburg depositories that have suspended business this week. Those closed this the Bloonifield Trust Co., Garfield Bank, affiliated with the Bloomfield Trust; the Hamilton State Bank of Bank and Trust Co. Heavy withdrawal of deposits was held responsible for the action the boards of directors asking the Banking Department to take the The banks closed to protect the interests of the depositories, the directors In statements last June 30. the Bloomfield and deposits the Bank and Trust of and deposits, Hamilton State Bank, $350.and deposits, $266,000, and Garfield Bank resources and deposits, Bank, Whose President Killed Self. Closes the Associated Va., Sept. Broadway Bank Trust whose president, Hoffman. found dead bedroom yesterday, was closed today. signed by Bristow Commissioner of Banking and Insurance was posted on the closed doors. the bank notice for the purpose of havan audit Coroner M. Whitfield returned verdict that the of Hoffdeath was suicide by gas.'

2. September 26, 1931 Evening Star Washington, DC
Article from Evening Star, September 26, 1931

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Article Text

FOUR BANKS FAIL TO OPEN Closed Pittsburgh Institutions Now Number Ten in All. PITTSBURGH, September 26 (P).Four State banks here failed to open today, bringing to 10 the number of Pittsburgh institutions that have suspended business this week. Those closed this morning were the Bloomfield Trust Co., the Garfield Bank, affiliated with the Bloomfield Trust; the Hamilton State Bank of Homewood and the Pennsylvania Bank & Trust Co.

3. September 27, 1931 The Cincinnati Enquirer Cincinnati, OH
Article from The Cincinnati Enquirer, September 27, 1931

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Article Text

FOUR MORE DOORS SHUT. Bank Suspensions At Pittsburgh Total Ten In Week Pittsburgh. September Four state banks here failed to open their doors today, bringing to 10 the number of Pittsburgh institutions that suspended this week Those closed this morning were the Bloomfield Trust Company, the Garfield Bank, affiliated with the Bloomfield Trust the Hamilton State Bank of H. and the Pennsylvania Bank and Trust Company. The Bloomfield Trust Company owned controlling interest in the Garfield Bank, but the other two in stitutions had no affiliation with any other financial institution in PittsIn statements last June 30 the Bloomfield reported resources of $1,983,000 and deposits $1,463,000; the Pennsylvania Bank Trust Company resources $4,075,252 and deposits of $3,269,677 the Hamilton State Bank resources $350,000 and deposits of $266,000 and the Garfield Bank resources of $507,000 and deposits of

4. September 27, 1931 The Owensboro Messenger Owensboro, KY
Article from The Owensboro Messenger, September 27, 1931

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Article Text

PITTSBURG Withdrawals Blamed Heavy For Asking The Banking Department To Act. Pittsburgh, Sept. 26. state banks here failed open day, bringing ten the number of Pittsburgh institutions that have suspended business this week. Those closed this morning the Trust company, the Garfield bank affiliated with the Bloomfield Trust, the Hamilton State Bark Homewood, and the Bank and Trust comHeavy withdrawals was held sponsible for the banks the state banking department to take over the The banks were closed to protect the interests of their depositors, the directors In statements last June 30, the Ploomfield Trust reported sources of and deposits the Bank and Trust of and the Hamilton State Bank $350,000 and and the Garfield bank and deposits

5. September 27, 1931 The Cincinnati Enquirer Cincinnati, OH
Article from The Cincinnati Enquirer, September 27, 1931

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Article Text

FOUR MORE DOORS SHUT. Bank Suspensions At Pittsburgh Total Ten In Week. Pittsburgh. September 26-(AP)Four state banks here failed to open their doors today, bringing to 10 the number of Pittsburgh institutions that have suspended this week. Those closed this morning were the Bloomfield Trust Company, the Garfield Bank, affiliated with the Bloomfield Trust: the Hamilton State Bank Homewood and the Pennsylvania Bank and Trust Company. The Bloomfield Trust Company owned controlling interest in the Garfield Bank, but the other two institutions had no affiliation with any other financial institution in Pittsburgh. In statements last June 30 the Bloomfield Trust reported resources of $1,983,000 and deposits $1,463,000; the Pennsylvania Bank Trust Company resources $4,075,252 and deposits of $3,269,677; the Hamilton State Bank resources $350,000 deposits of $266,000, and the Garfield Bank resources of $507,000 and deposits of $422,000.

6. September 29, 1931 The Daily Worker New York, Chicago, NY
Article from The Daily Worker, September 29, 1931

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Article Text

SIX PITTSBURGH BANKS IN CRASH 10 Banks Closed With $60,000,000 Lost PITTSBURGH, Pa., Sept. 28.-With six banks cosed over the week-end. the total of insolvent banks here within the last two weeks total ten with lost deposits estimated at $60,000.000. The Pittsburgh-American, Bank and Trust Co. and the McGillick Savings and Trust Co. were closed Friday by the State Banking Department. A run on the former bank withdrew $700,000 of the $3,000,000 deposits. it was reported. The lost McGillick bank deposits total $300,000. Declarations to the effect that the depositors would receive a full return on their lost money is in line with the usual promises to forestall immediate mass action of the depositors. Four other banks, the Bloomfield Trust Co., the Garfield Bank, the Hamilton State Bank and the Pennsylvania Bank and Trust Co. were closed Saturday. The deposits of the crashed banks in the order named are: $1,463,000, $422,000; $253,000, and $2,822,000. No promise of return on the deposits were made by officials of the above four banks.

7. November 11, 1931 Pittsburgh Post-Gazette Pittsburgh, PA
Article from Pittsburgh Post-Gazette, November 11, 1931

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Article Text

KERR CHECKS UP CASH IN BANKS All Deposits Bound By Bonds Except Franklin. City funds amounting to $1,346,000. representing time in all closed banks throughout the city, but not including the former City Roy D. Schooley placed with the Franklin Savings and Trust Company, are protected with security, Controller James P. Kerr said yesterday. His announcement followed check of the closed banks by auditors who are probing records of Schooley's office. Of these funds, total of $100,000 has already been returned to the city in the form of surety bonds and securities by two closed banks, Dr. Kerr said. The Exchange National Bank forfeited its surety bond for $85,000 Saturday and the Hamilton State Bank returned $15,000 in securities Mondoy. No records have been found to date to show the Franklin bank had posted protection for time deposits there. An additional $165,000, comprising delinquent tax funds for which is not required, was held there.