19329. Lawrence Bank (Pittsburg, PA)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: October 20, 1889
Location: Pittsburg, Pennsylvania (40.441, -79.996)

Metadata

Model: gpt-5-mini
Short Digest: 4d9c6fc9

Response Measures

Accommodated withdrawals, Full suspension

Other: Assignee and later receiver (Fidelity Title & Trust Co.) appointed; legal actions by depositors seeking receiver.

Description

An initial rumor-driven run occurred in October 1889 (crowd demanding payouts). In late November 1889 the bank suspended/closed after a large confessed judgment by Long & Co. ($300,000) and prior heavy withdrawals. An assignee/receiver (Fidelity Title and Trust Company) was appointed and the bank remained closed; later actions (assignee selling the building, litigation over appointing a receiver) indicate permanent closure/insolvency rather than a simple temporary suspension. I corrected 'Lawrence National' (one article) to 'chartered under the State laws' since multiple articles state it was a state-chartered institution.

Events (4)

1. October 20, 1889 Run

Cause: Rumor Or Misinformation
Cause Details: Rumor started (reportedly by 'some old woman') during President Young's absence, causing a crowd and heavy withdrawals; bank remained open and met demands.
Measures: Kept doors open and met all demands; remained open late to reassure depositors.
Newspaper Excerpt: The absence of President W. W. Young ... gave someone the impression ... a crowd of several hundred persons surrounded it, clamoring for their money. ... a tremendous run was made on the bank, but it kept its door open and met all demands without difficulty.
Source: newspapers

2. November 21, 1889 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Confession of judgment by Long & Co. (approx. $300,000) plus prior injudicious investments and heavy withdrawals (~$250,000) forced suspension/closing.
Newspaper Excerpt: The Lawrence Bank ... closed its doors. ... The large iron firm of Long & Co. ... confessed judgment for $300,000 in favor of the Lawrence Bank, and the latter institution closed its doors.
Source: newspapers

3. December 1, 1889* Receivership

Newspaper Excerpt: The appointment of the Fidelity Title and Trust Company as receiver of the Lawrence Bank meets the approval of the business men on Fourth avenue. Manager Jackson ... will take charge of the trust, and will begin his labor at once, giving it his undivided attention.
Source: newspapers

4. October 1, 1890 Other

Newspaper Excerpt: The Fidelity Title and Trust Company, as assignee of the Lawrence Bank, yesterday obtained the permission of the Court to sell at public sale the bank building at the corner of Penn avenue and Butler street which was appraised at $20,000.
Source: newspapers

Newspaper Articles (23)

1. October 20, 1889 Pittsburg Dispatch Pittsburgh, PA

Article from Pittsburg Dispatch, October 20, 1889

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STILL DOING BUSINESS. The Rumor That the Lawrence Bank Has Failed is Unfounded. The absence of President W. W. Young, of the Lawrence Bank, who is on a fishing tour on the Kankakee, gave someone the impression yesterday that there was trouble in the institution, and about 10 o'clock in the morning a crowd of several hundred persons surrounded it, clamoring for their money. They were in a highly excited state, and a tremendous run was made on the bank, but it kept its door open and met all demands without difficulty. Many of the larger depositors were satisfied with the assurance from the officials that the bank was all right, but the smaller ones did not leave until they got their monev. Thomas Stewart, a director in the bank, stated last night that the report must have been started by some old woman who had attempted to draw money without the customary previous notice. He stated that the bank was in an excellent condition, paying 6 per cent dividends, and had some of the most prominent business men of the city as stockholders. A reward of $150 will be given for the apprehension of the person who started the rumor. The' bank itself was not closed at all yesterday, and remained open until 9 o'clock last night, to give assurance to its depositors.

2. November 22, 1889 The Indianapolis Journal Indianapolis, IN

Article from The Indianapolis Journal, November 22, 1889

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FAILED FOR $700,000. The Lawrence Bank, of Pittsburg, Closes Its Doors-Workingmen Caught. PITTSBURG, Pa., Nov. 21.-This city experienced a financial sensation this afternoon. The large iron firm of Long & Co., whose works are located at Chartiers, confessed judgement for $300,000 in favor of the Lawrence Bank, and the latter institution closed its doors. The first intimation which the business people received of the bank's inability to meet its obligations was a notice to the Union Bank, through which it clears, to return checks to the amount of only $11,000. It was first stated, this afternoon, that the closing of the bank was entirely due to the judgment confessed by Long & Co., and a consequent run upon the bank, and that it would be opened to-morrow. President Young stated to-night that he did not know when the bank would be opened. The failure of the iron firm, he said. had something to do with the failure of the bank, but not all. They had made some bad investments. None of the officers, he says. have defaulted. The bank's liabilities are given at $700,000. The assets are not known, It is, perhaps, questionable whether or not the amount of the judgments confessed by Long & Co. can be realized from the property. There are said to be other and prior liens. Some ten days ago a rumor was started that the Lawrence Bank was not sonnd. It is located in the Lawrenceville district of the city, where mechanics and ironworkers predominate, and a run was made upon it. About $250.000 was withdrawn. Hundreds of workmen, however, have still their all in the bank, and there is great excitement to-night in that portion of the city. The bank was organized in 1866. The capital stock of the company is $80,000; surplus, $45,000; undivided profits, $10,204.33. The officers are: President, W. W. Young; vice-president, Samuel McMahon; cashier, John Hoerr.

3. November 22, 1889 The Helena Independent Helena, MT

Article from The Helena Independent, November 22, 1889

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WORKINGMEN THE VICTIMS. A Pittsburg Bank Closes its Doors and Poor People are Caught, PITTSBURG, Nov. 21.-The Lawrence bank has failed to meet its obligations and closed its doors. The bank had a capital stock of $80,000. It was supposed to be one of the most solid in the city. It is thought the embarrassment will only be temporary. To-night President Young said he did not know when the bank would be opened. The failure of the iron firm of Long & Co., who confessed judgment to-day in favor of the bank for $300.000 had something to do with the failure, but not all. Some bad investments had been made. When a rumor of the bank's trouble was circulated a couple of weeks ago quite a run was made and nearly a quarter of a million was drawn, but hundreds of workman still have all their savings in the bank.

4. November 22, 1889 New-York Tribune New York, NY

Article from New-York Tribune, November 22, 1889

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FAILURE OF THE LAWRENCE BANK. COMPLETE COLLAPSE OF A PITTSBURG CONCERN WITH LIABILITIES OF $700,000. Pit.sburg. Nov. 21 (Special).-The Lawrence Bank, chartered under the State laws, failed to-day with liabilities of between $600,000 and $700,000. Its capital is $800,000, and its assets are an uncertain quantity. The first notification of trouble came when the bank's checks amounting to $11,000 to $12,000 were recalled from its clearing house correspondent. Then came a confession of judgment in $300,000 by Long & Co., of the Vulcan Forge and Iron Works, to the bank This was on three notes for $100,000 each. given last month. President W. W. Young of the bank declared to-night that the collapse was complete; that he had sunk all his own money and that of some of his friends, and he was ruined. He ascribed the failure to injudicious investments and declared positively that there was no dishonesty. Three weeks ago, it was rumored that the bank was shaky and a run began. Since that time $253,000 has been withdrawn by depositors. D. H. H. Clark withdrew $80,000 a few days ago and is to-night the happiest man in town. The bank carried over $800,000 in deposits, much being from persons who are unable to stand loss. E. Z. Wainwright is said to have had $40,000 in the bank, and Carnegie Brothers also a heavy deposit, but neither will be involved by the failure. The bank was organized in 1866, and at its last report had a surplus of $45,000 and undivided profits of about $11,000. Some of the directors say it will reopen and others say not.

5. November 22, 1889 The Wheeling Daily Intelligencer Wheeling, WV

Article from The Wheeling Daily Intelligencer, November 22, 1889

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FINANCIAL SENSATION At Pittsburg - Failure of the Lawrence Bank. A BIG IRON FIRM ASSIGNS And 11 Causes the Bank to Close Its Doors-Excitement Among Workingmen Who Had Deposited in the Institution. PITTSBURGH, Nov. 21.-This city exprienced a financial sensation t'is af ternoon. The large iron firm of Long & Co., whose works are located at Charconfessed judgment for three hun. tiers, drid thousand dollars in favor of the Liwrence Bank, and the latter institu. tion closed its doors. The first intimation business people received of the bank's inability to meet its obligations WAS it notice to the Union Bank, through which it clears to return checks to the amount of only $11,000. It WHN first states this afternoon that the closing of the bank was entirely due to the judgment confessed by Long & Co. and a cons quent run upon the bank, and that it would be opened to. President Young stated he not bank night that morrow. would be opened. aid know The failure when the to- of iron he the failure do the with firm, made said, of the had bank, something bad but invest. not to all. They had some ments. None of the officers, he said, have defaulted. The bank's liabilities are given at $700,000. The assets e not known. It is perhaps questionable whether or not the amount of the judgments confessed by Long & Co. can be realized from the property. There are said to be other and prior liens. Some ten days ago a rumor was started that the Lawrence bank was not sound. It is located in the Lawrencevilledistrict of the city, where mechaniesand iron workers predominate, and a FILL WHS made upon the bank. About $250.000 was withdrawn. Hundreds of workmen, however, have still their all inthe bank and there is great excitementionnight in that portion of the city. The bank was organized in 1866. The capital stock of the company was $80,000; the surplus in the last report WHO $46,000; undivided profits, $10,294 33. The dicers of the bank were nafollows: President, W. W. Young; Vice President, Samuel McMahon; Cashier. John Hour. -

6. November 22, 1889 Waterbury Evening Democrat Waterbury, CT

Article from Waterbury Evening Democrat, November 22, 1889

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A BANK SUSPENDS. The Lawrence National of Pittsburg Closes its Doors. PITTSBURG, Pa., Nov. 22.-The Lawrence Bank, located at Penn avenue and Butler street, has failed to meet its obligations and has closed its doors. The Lawrence bank was organized in 1866 with a capital stock of $80,000, and was supposed to be one of the most solid in the city. All of its officials and directors are men of large wealth. Carnegie & Co. were the largest depositors. The principal business of the bank was, however, with small depositors. About three weeks ago rumors were afloat that the affairs of the institution were in a shaky condition, and a few depositors withdrew their fnnds. These troubles were tided over and confidence was restored. The failure has caused much surprise in financial circles. The opinion prevails that the embarrassment is but temporary.

7. November 22, 1889 The Morning News Savannah, GA

Article from The Morning News, November 22, 1889

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SOME COMPANIES HOLDING ALOOF. There are a number of concerns which have not yet been induced to enter the fold. One reason for holding aloof is that the offers made them will give them only an insignificant position in the combination. They feel that they may be forced to suspend operations temporarily, at least, for lack of raw material, the nine rod mills of America being either consolidated with the nail and fence manufacturers in the combination or being under contract to furnish the Federal Steel Company their entire product. A DOUBLE CRASH An Iron Firm Fails for $300,000 and Drags Down a Bank. PITTSBURG, Nov. 21.-This city experienced a financial sensation this afternoon. The large iron firm of Long & Co., whose works are located at Chartiers, confessed judgment for $300,000 in favor of the Lawrence bank, and the latter institution closed its doors. President Young stated to-night that he did not know when the bank would be opened. The failure of the iron firm, he said, had something to do with the failure of the bank, but not all. They had made some bad investments. None of the officers, he says, have defaulted. The bank's liabilities are given at $700,000. The amount of its assets are not known. A run was made upon the bank a few days ago and about $250,000 was withdrawn. Hundreds of workmen, however, have still their all in the bank and there is great excitement to-night in that portion of the city.

8. November 22, 1889 Pittsburg Dispatch Pittsburgh, PA

Article from Pittsburg Dispatch, November 22, 1889

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PITTSBURG, FRIDAY, NOV. 22, 1889. # YESTERDAY'S BANK FAILURE. The failure of the Lawrence Bank, which took place yesterday, created an unpleasant ripple in local finances. The investigation of the case, however, shows clearly that the failure is entirely local in its character, has no connection with the general condition of business, and can exercise no complicating effects on business at large. Depositors in the section where the bank was located may undergo inconvenience; the stockholders and officers of the suspended institution may suffer loss; but the generally prosperous condition of the city will hardly feel any drawbacks from a failure of so purely local an institution. With regard to the condition of the institution, exact statements are difficult to obtain at present. From the facts gleaned, it seems that the institution, alleged to be solvent, has been subjected to a steady drain caused by unfavorable and unfounded reports. On this withdrawal some $250,000 was paid out until the bank, unable to convert its assets, was forced to suspend. Of the deposits some $350,000 are reported unpaid, and it is supposed that the books of the bank, according to its last statement, should show much more than assets sufficient to meet that liability. On this statement it should be easy for the bank to pay dollar for dollar on its liabilities. The unfavorable feature so far discovered is the failure of a single firm whose liability to the bank is quite large. No intimations of speculation or irregularities are heard; but there is a practical confession of indiscretion in making loans which is not to be reconciled with careful banking management. Of course, with regard to such an event, everyone will hope that the settlement of affairs will turn out satisfactorily. However that may be, there is no reason to fear the extension of this complication of business at large.

9. November 22, 1889 Evening Star Washington, DC

Article from Evening Star, November 22, 1889

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A PITTSBURG BANK FAILS. Gone Under With Its Stock Above Par and a Surplus on Hand. The Lawrence bank of Lawrenceville, Pittsburg, closed its doors yesterday, being unable to lift its checkeat the Union National bank, through which it did its clearings. These checks amounted to only $11,000. The Lawrence bank was the oldest institution of the kind in Lawrenceville and had always been considered sound until lately. About a month ago a run was made on it on account of ugly rumors regarding the conduct of one of its officers, who was accused of dissipating too much to attend to business. This flurry blew over, however, and on the 4th of this month a dividend was declared of 3 per cent from the earnings. It now develops that at that very time there were no earnings. The stock of the bank has since that time, however, been quoted at $60 per share, $10 above par. The bank did business up to closing time yesterday. Its friends say it will pull through and resume. Its capital stock was $800,000, surplus, $45,000; undivided profits, $10,294.33, according to the last report. Officials of the bank say they have paid out $253,000 to depositors during the past three weeks and that their assets will be found between $700,000 and $800,000. The immediate cause of the failure was the Vulcan iron company of Chartiers confessing judgment on notes aggregating $300,000. This failure of the Vulcan iron company will cause great distress, they employing about 350 men. A special to the New York Tribune from Pitts. burg says the liabilities of the Lawrence bank are between $600,000 and $700,000. Its assets are an unknown quantity. President W. W. Young, of the bank, declared last night that the collapse was complete; that he had sunk all his own money and that of some of his friends and he was ruined. He ascribed the failure to injudicious investments and declared positively that there was no dishonesty. The bank carried over $800,000 in deposits, much being from persons who are unable to stand loss. E. Z. Wainwright is said to have had $40,000 in the bank and Carnegie Brothers also a heavy deposit, but neither will be involved by the failure.

10. November 23, 1889 Pittsburg Dispatch Pittsburgh, PA

Article from Pittsburg Dispatch, November 23, 1889

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DEFINITE AT LAST. Director T. B. Stewart States Explicitly What the Outlook is-He Says the Assets Will Easily Overtop the Liabilities-Good Paper to be Event= ually Realized Upon-Confidence Somewhat Restored. Mr. T.B. Stewart, a director of the Lawrence Bank, was interviewed last night by a DISPATCH reporter on the standing of the bank. He said: "The liabilities of the bank, as far as we will not amount to more than the assets will Our securities are $500,000,and can discern, considerably all good. overIn estate our investment up top this amount. real will bank figure from $100,000 to $130,000. The propat the forks of the adjoining on erty property situated Butler the road, street and beto us. Then we have money in and other securities, longs stocks and invested the balance of the assets are paper which fall due in 30 days, 60 days, and at more extended periods of time. THE PAPER IS GOOD. "Most of the paper money that we have out loans will be paid back in due time. It fact, however, that some of the money loaned will never Our on the money the bank guarantees be loaned paid for back. Yet 30 days, or longer, generally were good. some of it we will lose. "At the meeting of directors, yesterday afternoon, a confident tone was manifest in said and done. We feel certain if do not press us, we can all that was depositors The only more fear than pay dollar for dollar. we entertain about paying our liabilities, is that depositors WILL GET AGITATED, and in their desire to get their money free will have to meet to do this will to of the The bank bank have their dispose claims. at a loss; we will it if we are to lose property upon naturally forced anxious sell to meet urgent and The only thing to depositors. be the done bank is for one who has a claim upon to and give us to ourevery patient, then time will gather selves together, and we pay every owe. If this is not bank possidollar will be we financially embarrassed, done, suspend and the and bly it will have to permanently settle for a percentage on the dollar. STOCKHOLDERS WILL MEET MONDAY. "We cannot tell yet accurately what the bank owes, but we feel confident that a half million dollars will more than cover At the meeting of stockholders on Monday these matters will be fully gone into. "There cannot be any doubt that a little on the part leave the bank in the at Money helped indiscretion it is in to present. of the has management mud been puddle loaned to irresponsible parties who could not furnish the security necessary for a bank which desires to place itself beyond the possibility of stringency. However, that is not the main cause of the bank's stoppage. It is the large amounts that HAVE BEEN WITHDRAWN the month. a run was made on within continual past For the two bank. weeks We that we were getting into a tight but this run ceased a were then able to The run returned, and place, t then we depositors for stand few straight clam- days, ored bank for their we again. at the deposits the until doors. were drained out and had to close Most of the deposits withdrawn were not small amounts, but heavy drafts, WHICH SOON TOLD bank's resources. We had not an of money otherwise could we It was to was unlimited out, supply impossible and convert have much much made of it of we money a So the moment's money. the paper notice. held into only alternative on was to close the doors and suspend payment. "Wedo not hope to reopen the bank's is up, is a faint reWe cannot then doors until there everything very tell cleared absolutely hope for the when and our various of be turned in soon, them opening. we can will realize other and assets; possibly securities some it will take years before of our can be converted into money." SOME MORE DEPOSITORS. Among other depositors and shareholders who are losers by the bank's failure is, John Wainwright, $1,500; John Ward, Butler street, $3,000. Wainwright Bros., of the Winterton Brewery, besides their deposits are shareto the amount of $2,000. The a sort of of street, holders Covert, shares are Forty-fourth family heirloom. the another bank share Dr. holder, said last night he felt good for anything it might owe. The directors, he said, were all wealthy men, and their own fortunes would more than cover the liabilities. Mr. private bank's William large Mackay stock of Forty-fourth street, is both a

11. November 23, 1889 The Wheeling Daily Intelligencer Wheeling, WV

Article from The Wheeling Daily Intelligencer, November 23, 1889

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THE LAWRENCE BANK FAILURE. Excitement in the District-The Depositors Principally of the Poorer Class. PITTSBURGH, PA., Nov. 22.-Considerable excitement prevails in the Lawrenceville district to-day over the failure of the Lawrence Bank. The doors were not closed until the usual hour yesterday, and when the reports were first circulated they were not generally credited. This morning, however, the doors remained closed. Many of the depositors, who were principally of the poorer class, gathered about the institution, but the best of order was maintrined. The failure has caused but little flurry in financial circles, and it is claimed that no other banks are involved. Long & Co.'s iron plant is in the hands of the Sheriff, The judgment conferred in favor of the defunct bank was $300,000, but it is claimed by the firm that the actual amount is not over $150,000. The absence of Cashier Hoerr is creat. ing a great deal of comment. He left the bank for lunch at noon yesterday and has not been seen since. No crook eduess is hinted at, however, and it is thought he is simply keeping himself out of the reach of the reporters. From bank sources it is learned that the de. posits were about $850,000 and that probably $200,000 had been drawn out in the recent run. The bills receivable are about $600,000 and the real estate $70,000, cash and bonds on hand amount to from $30,000 to $40,000. The assets, it is thought, will aggregate $800,000, and as the stockholders are individually lia ble for $150,000, the depositors will like. W ly receive dollar for dollar. The notice on the bank door this morning auP nounces that with patience everything will be paid in full. Judgments aggregating $462,000 have been entered up against Long & Co., the b iron firm, of which $100,000 are in favor W the Lawrence bank and $200,000 in favor of its president, W. W. Young. No other failures have resulted as yet, but a number of small suspensions are b looked for. The banks are all right and 0 no trouble ia anticipated. A recent meeting of the directors of the bank was held this afternoon. Nothing could be learned of the action taken. The members said a statement would be is. h sued in a few days and until then there hi would be nothing for the public. They claim to know where Cashier Hoerr is and say he will be on hand at the proper a time. His wife is still ignorant of his fo whereabouts.

12. November 23, 1889 Pittsburg Dispatch Pittsburgh, PA

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THE TOPICAL TALKER. The Bank Failure of To-Day Recalls Incldents of a Grand Predecessor - Col. McCaull's Affairs-An Idyl of the Sixth Street Bridge. EVERYBODY was talking of bank failures yesterday; retailing experiences and bits of gossipabout the Penn Bank smash and other dark financial days. One story of that awful Penn Bank collapse that was told to me has never been in print, although a good many people know it. Among the depositors in the bank was a young railroad clerk. He had accumulated $1.600, and every cent of it was in the Penn Bank when it suspended payment for the first time. When that institution reopened its doors and reports were given out by the friends of the bank that large sums had been lent to it to tide over the rough weather, the young man whose savings were at stake was urged by his companions in the office to draw his money ont. But he refused to very manfully; he was satisfied to let his money rest, he said, now that the bank had all the money it needed, and the support of so many wealthy men. We know how misplaced that confidence was now, but it is surprising at this day to know how many smart men of business were deluded into a belief of the Penn Bank's solvency after its first suspension. A VERY shrewd business man had some $70,000 in the Penn Bank when it went under the first time. A brother of his had $10,000 or $12,000 also on deposit in the same place. When the doors were thrown open the depositor of the smaller sum was among the first to get it from the tottering bank's clutches. His elder brother made sport of him, accusing him of timidity unworthy a business man for 24 hours or more. The $70,000 were allowed to remain intact-ostensibly-in the Penn Bank. The next day the situation was reversed, but the lucky younger brother had not the heart to plague his hard hit senior. Happily the Lawrence Bank failure seems to lack the most distressing features of the catastrophe which shook Pittsburg to its center in 1883. THE report that Col. McCaull is to retire from the management of his opera company, particulars of which including the denial of its truth will be found on the local page, would have had more probability if the redoubtable impresario had not such able agents to look after his interests, as Mr. B. D, Stevens and Madame Cottrelly. Col. McCaull's ill health has been a very serious drawback to him for the last two or three years. He has done a deal of good in his time for the lighter opera of our stage, and at many times he has had to fight very hard for his professional life, It will be a loss to the American stage when Col. McCaull drops out of the managerial ranks. THE wind blowing from the southwest with a vicious force made the passage of the Sixth street bridge last evening very unpleasant. The rain was nearly sleet, and it stung one's face like small shot. As usual, the lower side of the bridge walk was under water. Under one umbrella, just in front of me, crossing the bridge bravely, were a youth and a maiden, the latter presumably fair. Anyhow, she had a musical voice-a thing a man will notice under any circumstances, even in a rain-storm. Said she: "This is dreadful, Charlie!" Said he: "Yes-but it ought "to cheer you to think that I am sheltering you. This umbrella is my love-and the Allegheny is the world's wild stream, and the storm the trials and troubles we are sure to meet, my dear." "That's all very well," she replied, with a laugh, "but imagination won't keep my feet dry-and, sir, if your love is no bigger and no = better able to protect me than your umbrella, I I won't promise to cross the river of life with you." W And then a gust of wind, I suppose, pressed A the umbrella very close to the girl's head, and t the pursuit of sentiment under difficulties was ] t taken beyond my ken.

13. November 23, 1889 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, November 23, 1889

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FOOLS AND THEIR MONEY. Depositors in the Lawrence Bank Left in the Lurch. PITTSBURG, Nov. 22.-The Lawrence bank did not open its doors for business this morning, as was anticipated by some of the more sånguine stockholders and depositors. Long before the hour for commencing business a crowd of interested people gathered at the bank steps, discussing the situation. Promptly at 9 o'clock Assistant Cashier Moke tacked the following notice on the door and immediately disappeared: Owing to the continued withdrawal of depositors we are compelled to suspend payment, feeling assured that with time and patience all will be reimbursed. By order of the president. There was considerable murmuring, and numerous threats were heard about what would be done in case any of the officials dared to show their faces. The only man connected with the bank who appeared about the building was Director Samuel McMahon. He tried to explain matters, but his task was a rather difficult one. Mr. McMahon said to a reporter: "We will pay dollar for dollar. The depositors will not lose a cent, although they may be compelled to wait until we are able to realize enough to meet their claims. The directors will hold a meeting this afternoon at which we will ascertain the full amount of our liabilities and assets, and will prepare a statement for the public." Long & Co., of the Vulcan iron works, against which the Lawrence bank holds judgments aggregating about $300,000, and whose property is now in the hands of the sheriff, positively refuse to make any statement for publication. The absence of Cashier Hoerr is creating a great deal of comment. He left the bank for lunch at noon yesterday and has not been seen since. No crookedness is hinted at, however, and it is thought he is simply keeping himself out of the reach of reporters. From bank sourees it is learned that the deposits were about $850,000. and that probably $200,000 had been drawn out in the recenti run. The bills receivable are about $600,000, and the real estate $70.000. Cash and bonds on hand amount to from $30.000 to $40,000. The assets, it is thought, will aggregate $800,000, and the stockholders are individually liable for $150,000. DIRECTORS ARE EXCITED. PITTSBURG, Pa. Nov. 22.-A meeting of the directors of the Lawrence bank was held this afternoon. The session lasted about half an hour. and then hastily adjourned. Attorney McCook said: We are not in shape to make any statement, though we shall at the very earliest opportunity. It is impossible to tell what are the assets and liabilities. We will immediately call in all outstanding loans subject to call. and the clerks are now working on the books to get them in shape. When we have matters in shape a meeting of the stockholders will be called. The following estimates are as accurate as obtainable: Assets, $800,000; liabilities said to be $600,000.

14. November 25, 1889 New-York Tribune New York, NY

Article from New-York Tribune, November 25, 1889

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AW AITING A REPORT OF THE LAWRENCE BANK Pittsburg, Nov. 24.-Cashier Hoerr, who has been missing since the failure of the Lawrence Bank, Thursday, has returned home. He did not have the courage to meet the depositors the first few days after the suspension, and went to Butler. Penn., where he has been ever since. His honesty has never been questioned A meeting of the creditors will be held to-morrow when an assignee will be appointed. It is probable that an official report will also be made.

15. November 28, 1889 The Stark County Democrat Canton, OH

Article from The Stark County Democrat, November 28, 1889

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NEWS OF THE WEEK. BOSTON, Nov. 22.-[Speciel.].]-Sullivan has received a telegram that the San Jose, Californio, Athletic Association will puup fifteen thousand for finish fight bet tween him and the negro Jackson, He will accept and will telegraph his accept ance. NEW YORK, Nov. 22,-[Special.]-A highly sensational shooting affray occurred here this morning on Fulton street. Stephen L. Pattens, secretary and treasurer of the Brooklyn Elevated Road and a Brooklyn Bridge trustee, was shot and instantly killed by Mrs. Hannah Southworth. The weapon used was a 88-calibre self-cocking revolver. All five chambers were discharged and every bullet took effect. Pettens had just left the ferry, when a woman, richly dressed, very handsome and thickly yeiled, stepped behind him and began firing at him. Pettens was married man, but has no children. It seems for some years past Mrs. Southworth has given Pettens a vast amount of trouble, She assaulted him once before In Brooklyn. At that time she broke an umbrella over his head. She was then arrested and put under bonds for good behavior. Some time ago she brought suit against him for a large amount, alleging he had seduced her, and asking big money as compensation. Pettens fought the case, which is still pending. Mrs. Southworth is still under arrest. Pettens was wealthy. The affair creates a great sensation throughout the eny, owing to the prominence of Pettens. PITTSBURG, Nov. .-[Special. ]--A twostory frame house was blown to atoms at Braddock, Pa., this morning by the explosion of natural gas. Mrs. Peter Keish, wife of the owner, was in bed with an infant. Both are believed to be fatally ourned. Charles Householder is also faally burned. Five other members of the Kelsh family who were in the house are ba By injured. The MITH WAS leaking in the basement kitchen,where Householder, in the employ of the gas company, called repair the leak. His light ignited the gas, and the whole side of the house was town out. Tue explosion shook up the whole town. HELENA, Montana, Nov. 22,-[Special. B. Olds, Republican Senatorand very prominent man, says he in opposed to the methods the Republicans have used to noure control of the Legislature, and that he will oppose it. He says that his party neither law nor justice on its side and feeling in his county among his own party is that the business should stop just where it is and the Democrats be allowed organize the Legislature and elect the United States Senator. His position creconsternation among the Republicans. MASSILLON, Nov. 22. [Special.]- WilHam T. Clay, a prominent citizen of this Jace, died 1108 morming Trom a parsy, ''' troke receive d Wednesda moved to orn in Plain township and father of Massillon in 1836. He is the of this aylor Clay and Mrs. John o The den funeral city, He was 78 years old. will be held Sunday at 2 p. m. PHILADELPHIA Nov. 22.-[Special.]-It now said that Wigton, manager of the Glanmorgan Iron Co. has doctered notes the amount of fifty thousand dollars and that he admits making alterations to amount. The officers of the company fear still larger defalcations. WASHINGTON, Nov. 22.-[Special.]-A N. venerable appearing man named 1. not Alexander, evidently 60 years of age, overly well kept, is here looking for the bilice of District Attorney for Northern Dhio, now held by R. S. Shields This is from Van Wort, Ohio, and Senator Sherman is backing him. There is tremendous opposition to his appointment, and serious charges have been filed against him, and strong protests from Poledo and Cleveland against his appointment. Sherman is said to be hesiating, but knowing ones think Alexander will get the appointment. PITTSBURG, Nov. 22.-[Special]- Presilent Smith of the Lawrence busted bank they will be able to pay all liabilities full. No other banks are affected. RIO JANERIO, Nov. 20.-The Provisional rovernment has issued a decree declaring miversal suffrage in the United States of Brazil. It goes into operation at the next general election. Tranquility prevails. CHICAGO, III., Nov. is enveloped in a ever known. It is impossible and to recognize pedestrians on the streets, cable roads are running on a walk. PHILADELPHIA, Nov, 21. -[Special.]The funeral of ex-Attorney Lewis C. Cas. took place this morning from his late residence. There was a large attendance of prominent lawyers and politicians. HAMILTON, O., Nov. 20.-Chairman Neal being asked if Calvin S. Brice, of the Nalonal Democratic Committee, aided him the Ohio campaign, said: "I asked for assistance and he gave it." WASHINGTON, Nov. 21.-[Special.]-The Bolivian minister will be presented the President to-morrow morning by Secretary Blaine. NEWARK, N.J., Nov. 21. -[Special.]President Alfred A. Reeves of the Globe Fire Insurance Co. of New York City died here this morning aged 54. He left a arge estate. ALBANY, N. Y., Nov.21.--[Special.]--Tolay Gov. Hill commuted the sentence of Charles Giblin, the murderer of Mrs. Valontine Goetz, to life imprisonment. CHICAGO, Nov. 21.-[Special.]-In the Cronin trial this morning the defense coninued the work of proving analibi for the prisoners and also attempted to prove the White horse of Dinans was not one that carried off Dr. Cronin from rooms on the fatal night of his disapbearance. WASHINGTON, Nov. 21.-[Special.]-The Brazilian delegates to the Pan-American Marine Congresses, have been notiby the new government to continue their duties in both Congresses, just as if accident had happened to Dom Pedro. WASHINGTON, Nov. 21.-[Speclal.]-The President has appointed Thomas Clay McDowell collector of internal revenue to succeed the late William Cassius Goodloe Lexington, Ky. McDowell is the sonin-law of Col. Goodloe. COLUMBUS, O., Nov. 21.-[Special.]Estimates made here from letters and dispatches from all parts of the state indithat the contest for Senator in between Col. Cal Brice, of Lima, and Hon. John H. Thomas, of Springfield, and Foster, that

16. December 4, 1889 The Helena Independent Helena, MT

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SPARKS FROM THE WIRES. Cyrus Fillmore, a brother of ex-President Fillmore, died yesterday, aged 87 years. The board of appeals of the American Trotting association began its session at Chicago yesterday. The Agassiz Mining company of Leadville, Col., has made an assignment. Liabilities, $114,000; assets, $200,000. There are 28,000 persons suffering from influenza in St. Petersburg. The malady affects people more or less in all the towns in Russia. Dr. Taylor, son of the late Maj. Taylor, United States army, and the son-in-law of ex-United States Senator Caldwell, committed suicide yesterday. The Love Sewing Machine company of Pennsylvania assigned yesterday. The 88 sets and liabilities are unknown. The failule was caused by the suspension of the Lawrence bank of Pittsburg. The capital stock of the company is half a million. Secretary Windom has appointed Special Agents Spaulding, Montgomery and Clance a commission to investigate the charges made by Boston merchants against Dr. Edward Sherer, the chemist of the sugar laboratory at the New York custom house. The charges against Sherer affect his integrity and also his competency. The United Steamer Enterprise, now in English waters, and under orders to come home, has been ordered by the navy department to proceed to Antwerp to receive the remains of ex-Minister Pendleton and convey them to the United States for burial.

17. December 4, 1889 The Wheeling Daily Intelligencer Wheeling, WV

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The Lawrence Bank Case. PITTSBURGH, Dec. 3.-The depositors of the Lawrence Bank went into faurt to-day and presented 4 potition signed by Auditor McOamant, of Pennsylvania, asking for the removal of the assignee, and the appointment of a receiver. The court reserved its decision.

18. December 4, 1889 Wheeling Register Wheeling, WV

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Lawrence Bank Case in Court, PITTSBURG, December 3.-The depositors of the Lawrence Bank went into Court to-day and presented a petition, signed by Auditor McCamant, of Pennsylvanis, asking for the removal of the 88signee and the appointment of a receiver. The Court reserved its decision.

19. December 5, 1889 The Wheeling Daily Intelligencer Wheeling, WV

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Petition Refused. PITTSBURGH, Dec. 4.-The petition of the depositors of the Lawrence bank asking for the dismissal of the assignee and appointment of a receiver was refused by Judge Stowe, of the County Court. to-day, on the ground that it was illegal.

20. December 12, 1889 The Telegraph-Courier Kenosha, WI

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A Sewing Machine Company Fails. The Love Sewing Machine Company at Beaver, Pa., has made an assignment for the benefit of the creditors. The assets and liabilities are not known. The failure was caused by the suspension of the Lawrence bank of Pittsburg.

21. December 19, 1889 Pittsburg Dispatch Pittsburgh, PA

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Business Notes. THE New York Central road has 9,568 stockholders, employs 20,659 people and pays out in wages annually $12,460,708. THE new German National Bank will cost $300,000. A great deal of fine work will be put on the inside, while the exterior will be highly ornamental. THE Chicago, Burlington and Quincy dividend, amounting to $763,000, was paid on Tuesday. Boston stockholders received nearly $500,000 of the amount paid. THE borough officials of Wilkinsburg are determined to have protection against fire. They are advertising for hose, etc. The water pressure is sufficient to throw a stream 100 feet high. THERE was quite a spurt in the mortgage business yesterday. Forty-five were recorded. The largest was for $21,680-Calvary Cemetery Association to St. Mary's Cemetery. Twelve were for purchase money. CONCERNING the apparent security of Philadelphia Gas Company stock, a broker said yesterday: "There is plenty of it around, but holders want more money for it. The market is steady, and there is no hurry to sell." THE appointment of the Fidelity Title and Trust Company as receiver of the Lawrence Bank meets the approval of the business men on Fourth avenue. Manager Jackson, of the company. will take charge of the trust, and will begin his labor at once, giving it his undivided attention. SHIPMENTS of iron ore by water from the Lake Superior mines show the season's work to have been unprecedently large, the total figures being 6,804,511 tons. This is 2,182,564 tons in excess of the lake shipments of 1888. The shipments by rail for the year have not been less than 300,000 tons more. PITTSBURG national bank statements, as compared with the last previous statements, show a slight falling off in individual deposits, but an increase in loans and discounts of almost $1,000,000, indicating comparatively little idle money. to the benefit of the stockholders. This is highly satisfactory. W. A. HERRON & SONS will offer at auction on Tuesday, January 7, the premises to close and settle the estate of Charles L. Caldwell, Esq., deceased, Nos. 114 and 116 Fourth avenue, adjoining the Dollar Bank, the lot 18 45x85 feet; also Mr. Caldwell's late residence, No. 73 Lincoln avenue, a lot 36x140 feet, with a fine large dwelling. WHITNEY & STEPHENSON received the following yesterday afternoon from New York: A good many brokers say they don't look for anything more than a scalpers' market during the next six days, and that until after the 25th inst. there is not likely to be sufficient® in the changes to compensate the professionals for attending to business.

22. September 3, 1890 Pittsburg Dispatch Pittsburgh, PA

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CAUGHT WITH HER BANK BOOK. One of the Delayed Depositors of the Lawrence Bank Injured. Mrs. Catherine Carey, a widow, residing at No. 220 Forty-fifth street, was knocked down and run over by a horse and buggy at the corner of Fifth avenue and Smithfeld street about 2 o'clock yesterday afternoon. Mrs. Carey is 62 years of age and was one of the depositors in the Lawrence Bank. She had $473.40 on deposit in the bank when it collapsed, and had been doing business with the institution since July 21, 1876. She was one of the numerous depositors that would not turn their books over to the Fidelity Title and Trust Company, and yesterday started for the company's office, on Fourth avenue, and while crossing at Fifth avenue was run down. She is lying at the Homeopathic Hospital suffering with concussion of the brain.

23. October 1, 1890 Pittsburg Dispatch Pittsburgh, PA

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court room. Judge White discontinued the trial and sent the girl back to jail. Sentence, will prebably be suspended. THE suit of William B. Anderson against the Pittsburg and Lake Erie Railroad Company for damages caused by a house catching fire from sparks from the locomotive and burning down, is on trial before Judge Ewing. IN the suit of Elizabeth. Edward P. and Catharine Flinn against the Allegheny Heating Company, for damages for injuries caused by a natural gas explosion, a verdict was given yesterday for the plaintiffs in the sums of $75, $100 and $162. THE Fidelity Title and Trust Company, as assignee of the Lawrence Bank, yesterday obtained the permission of the Court to sell at public sale the bank building at the corner of Penn avenue and Butler street which was appraised at $20,000. THE suit of. George W. Parker and John Potts against the steamer Acme was argued before Judge Acheson in the United States Court yesterday. The defendants claim the United States Courts have no jurisdiction in the case as the boat is a ferry-boar in the Beaver river, which is not navigable. Decision was reserved.