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Pittsburgh Bank Closes After Cashier Defaults PITTSBURG, Feb. 13-With the arrest of J. F. Swartz, cashier, charged with embezzling $250,000 of its funds, the Park Bank, one of the leading financial institutions of the east end was closed this morning. It was announced that P. G. Camerson, state bank examiner, had been appointed receiver. The bank's statement on January 1 showed deposit of $2,235,859.
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Erzberger to Demand Recognition of Berlin Government at Treves Pittsburgh, Pa., Feb. 13.-With the arrest of J. F. Swartz, cashier, charged with embezzling $250,000 of its funds, the Park Bank, one of the leading financial institutions of the east end, was closed this morning. It was announced that P. G. Camerson, state bank examiner, had been appointed receiver. The bank's statement on January 1 showed deposits of $2,235,859. Swartz Attempts Suicide According to the police, Swartz attempted to commit suicide shortly before officers arrived at his home in a fashionable residence section of the city. The officers were kept waiting several hours until he regained consciousness before the warrant, charging defalcation was served. He was reported in a serious condition in his home today under police guard. The bank, which was regarded as one of the strongest in the city, was closed by order of the State Banking Department. A statement issued by E. C. Chalfant, president, said the amount missing comprised between $70,000 and $80,000 in cash and $170,000 in unauthorized notes. He said there would be little loss to depositors. Cameron issued a statement this afternoon declaring that investigation so far had revealed no wrong doing by the bank's directors. Depositors Gather at Doors Several hundred depositors gathered at the bank's doors at 10 o'clock this morning after a notice'l had been posted announcing that only persons indebted to the bank would be admitted. Police reserves were called, but up to noon the steadily increasing crowd had caused no disorder,
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CHARGE BANKER WITH TAKING $250,000 OF FUNDS Pittsburgh, Feb. 13.-With the arrest of J. F. Swartz. cashier, charged with embezzling $250,000 of its funds, the Park bank, one of the leading financial institutions of the east end, was closed this morning. It was announced the state bank examiner had been reported receiver. The bank's statement on January 31 showed deposits of $2,235,850. Several hundred depositors gathered at the bank doors. Police reserves were called, but up to noon the crowd had caused no disorder. According to police reports, Swartz attempted suicide when officers arrived at his home. He is reported in a serious condition. The bank was closed by the state banking department. A statement issued by the president of the bank said the amount missing comprised between $75,000 and $80,000 in cash and $180.000 in unauthorized notes. He said there would be little loss to depositors.
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By United Press: PITTSBURG, Pa., Feb. 13.-The Park bank of Pittsburgh, with deposits totaling more than $2,225,000. failed to open its doors today. Bank officials announced that the institution had been closed by orders of P. T. Cameron, state bank examiner. Defalcation on the part of an employe is alleged to have been the reason for the bank's closing. E. C. Chalfant, president, and the bank directors issued a statement which declared that "embezzlement, abstraction and willful misapplication of moneys, funds and credits of the bank," by J. S. Swartz, cashier, had "Impaired the capital of the bank to such an extent as to make it impossible to longer continue business." Swartz Alone to Blame. Swartz, who was a majority owner of the capital stock in the bank, has admitted that "he alone" is responsible for conditions which have caused the bank's closing, the statement said. Information has been made against Swartz charging him with defalcations, the directors announced. State Bank Examiner Cameron, who is acting as temporary receiver, issued a statement exonerating the bank directors of any blame in connection with the bank's failure.
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Park Bank At Pittsburgh Closes When Cashier Gets Away With $250,000 (By Associated Press.) Pittsburgh, Feb. 13.-With the arrest of J. F. Swartz. the cashier charged with embezzling a quarter of a million dollars of its funds, the Park Bank, one of the leading financial institutions of the East end. closed this morning. It was announced D. G. Cumerson, Sate Bank examiner, has been appointed receiver. The statement of January 1st showed deposits of over two millions.
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CASHIER'S PILFERING BRINGS CLOSING OF BANK AT PITTSBURGH PITTSBURGH. Feb. 13.-With the arrest of J. F. Swartz, cashier, charged with embezzling $250,000 of its funds, the Park Bank. one of the leading financial institutions of the East End, was closed this morning. It was announced that D. G. Cameron, state bank examiner, had been appointed receiver. The bank's statement on January 1 showed deposits of $2,235,859. According to the police, Swartz attempted to commit suicide shortly before officers arrived at his home in a fashionable residence section of the city. The officers were kept waiting several hours until he regained conscousness before the warrant charging defalcation was served. He was reported in a serious condition in his home today under police guard. The bank. which was regarded as one of the strongest in the city. was closed by order of the state banking department. A statement issued by E. C. Chalfant. president, said the amount missing comprised between $70,000 and $80,000 in cash and $170,000 in nauthorized notes. He said there would be little loss to stockholders. Cameron issued a statement this afternoon declaring that investigation SO far had revealed no wrongdoing on the part of the bank's directors. Several hundred depositors gathered at the bank's doors at 10 o'clock this morning after a notice had been posted announcing that only persons indebted to the bank would be admitted. Police reserves were called, but up to noon the steadily increasing crowd had caused no disorder. When the crowd learned of Swartz' arrest many persons left the bank and went to the cashier's home, 5900 Stanton avenue. A cordon of police was thrown around the house as a precau5 tion. Receiver Cameron was authority for the statement that Swartz had attempted to kill himself last night when he learned the state examiner was workmg on the backs. Swartz was removed to a hospital under police guard this afternoon. He was delirious and his condition was reported critical. Swartz secured controlling interest in the bank last spring by purchase of the stock of the president, vice president and three directors. Swartz was arrested on three informations charging perjury. fraudulent entry and embezzlement. 11 was specitically charged that he swore falsely on December 31. 1918. to certain financial records of the bank's condition, which statement is required by law.
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CASHIER TRIES SUICIDE; BANK'S DOORS CLOSED One of Pittsburgh's Strongest Institutions Suspends After Being Victimized of $250,000. PITTSBURGH, Feb. -With the arrest of J. E Swartz, cashier. charged with embezzling $250,000 of its funds, the Park Bank, one of the leading financial institutions of the East End, was closed this morning. It was announced that D. G. Cameron, State bank examiner. had been appointed receiver. The bank's statement on January showed deposits of $2,235.859. According to the police, Swartz attempted to commit suicide shortly before officers arrived at his home in a fashionable residence section of the city. The officers were kept waiting several hours until he regained consciousness before the warrant. charging him with defalcation was served. He was reported in a serious condition in his home to-day under police guard. The bank, which was regarded as one of the strongest in the city, was closed by order of the State banking department. A statement issued by E. C. Chalfant, president, said the amount missing comprised between $70.000 and $80,000 in cash and $170,000 in unauthorized notes. He said there would be little loss to depositors.
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$80,000SWINDLE WRECKS BANK J. S. Swartz, Cashier, Is Charged with Embezzlement by Directors. Pittsburgh, Pa., Feb. 13.-Charged with embezzlement of $80,000. J. S. Swartz. cashier of the Park Bank. of Pittsburgh, which was closed today by the State bank examiner. is in the Mercy Hospital here in a delirious condition. Swartz was arrested at his home upon charges preferred by the bank directors. The police found him in, bed suffering from a mental breakdown and unconscious, it is stated. Swartz was removed to the hospital, where he is being closely guarded. Exonerates Directors. With news that the bank had closed had spread, several hundred depositors institution. gathered Police in reserves front of were the rushed to the scene, but no disorder was threatened. R. C. Chalfant, president. and the bank directors issued a statement which declared that "embezzlement, abstraction and wilful misappropriation of moneys, funds and credits of the bank" by J. S. Swartz. cashier, had "impaired the capital of the bank to such an extent as to make it impossible to longer continue business." Swartz, who was a majority owner of the capital stock in the bank, has admitted that "he alone" is responsible for conditions which have caused the bank's closing, the statement said. Information has been filed against Swartz charging him with defalcations, the directors announced. State Bank Examiner Cameron, who is acting as temporary receiver, issued a statement exonerating the bank directors.
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PITTSBURG CASHIER ACCUSED OF $250,000 BANK EMBEZZLEMENT Pittsburg, Pa., Feb. 13.-With the arrest of J. F. Swartz. cashier, charged with embezzling $250.000 of its funds. the Park Bank, one of the financial institutions of the East End, was closed this morning. It was announced that P. G. Camerson, state bank examiner had been appointed receiver. The bank's statement on Jan. 1 show deposits of $2,235,859. According to the police, Swartz attempted to commit suicide. He was reported in a serious condition in his home today under police guard.
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Washington, Feb. 13-Orders assigning 52 medical officers for duty with the American forces in Siberia, were issued today by the war department. The party, incluling seven majors, 19 captains and 26 lieutenants, will sail from San Francisco. New Orleans, Feb. 13.-Montgomery, Ala., was selected as the 1920 convention city and John D. Eldridge, of Gregory, Ark., was elected president of the Southern Cattlemen's association at the concluding session here today of the seventh annual convention of that organization. New York, Feb. 13.-Stock of the New York, New Haven and Hartford broke 3 points to lay upon announcement in Wall street that application had been made for a limited receivership for the road before federal Judge Cox, in connection with a long pending suit to recover $150,000,000 in behalf of certain stockholders. Franklin. Pa., Feb. 13.-Forty-five persons were injured when four coaches of the Pittsburg-Buffalo Express, northbound on the Pennsylvania railroad were derailed at St. George, 20 miles south of here. The cause of the accident was undeter mined. Railroad officials said none of the injured were seriously injured. Geneva, Wednesday Feb. 13.-The movement to exclude the central powers from the international Red Cross, was debated at a meeting of that organization held here today. President Ador, of Switzerland, was chairman of the meeting, which was attended by delegations from all countries which preferred charges of violations of Red Cross privileges by Germany. Basle, Feb. 13.-Two national democrats, 32 populists, 13 socialists, eight Jews and two Germans were elected to the Polish assembly, according to final results of the elections here in Poland, according to a Warsaw dispatch received here. Two women were included in the successful candidates. Pittsburg, Feb. 13.-With the arrest of J. F. Swartz, cashier, charged with embezzling $250,000 of its funds, the Park bank. one of the leading financial institutions of the East Eend, was closed this morning. It was announced that D. G. Camerson, state bank examiner, has been appointed receiver. The bank's statement on January 1 showed deposits of $$2,235,859. Santiago, Feb. 13.-As a result of anarchistic outbreaks and disorders on both sides of the Chile-Argetina frontier, the Chilean foreign office is preparing a convention with Argentina relative to frontier police and extradition.
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BANK CASHIER CHARGED WITH EMBEZZLING $250,000 Pittsburgh, Feb. 13.-With the arrest of J. F. Swartz, cashier charged with embezzling $250,000 of its funds, the Park bank, one of the leading financial institutions of the east end, was closed this morning. It was announced that D. G. Cameron, state bank examiner, had been appointed receiver. The bank's statement on January 1 showed deposits of $2,235,859.
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Big Eastern Bank Closes When Cashier is Arrested Pittsburgh. Pa., Feb. 13.-With the arrest of J. S. Swartz, cashier, charged with embezzling $250,000 of its fur ds, the Park bank one of the leading financial instrutions of the east end. was closed this morning. It was announced that P. G. Cameron, state bank examined, had been appointed receiver. The bank's statement on January 1 showed deposits of $2,235,859. According to police, Swartz attempted to commit suicide shortly before officers arrived at his home. He was reported in a serious condition in his home today under police guard.
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THEFT CLOSES BIG PITTSBURG BANK Cashier of Park, Accused of Embezzling $250,000 Is Found Senseless. DEPOSITS ARE $2,400,000 Prisoner Is the Largest Stockholder-Held in Hospital Under Guard. PITTSBURG, Feb. 13. - J. S. Swartz, cashier of the Park Bank, is being closely guarded by a constable in a hospital to-night. When he recovers sufficiently he will be taken before an Alderman to face charges preferred by the bank officials of perjury, fraudulent entry and embezzlement. In the meantime the bank is closed by order of the Pennsylvania State Banking Commission and D. C. Cameron; State Examiner, is in charge of its affairs. Swartz's alleged peculations are said to have amounted to more than $250,000. Directors of the bank are optimistic and believe the doors will soon be reopened and every depositor paid in full. Swartz was found unconsclous when officers called at his home to arrest him, and this gave rise to the report that he had tried to commit suicide. This rumor was discredited this afternoon, when it was announced that he was really ill and in no condition to go to jail. Alderman J. J. Kirby said to-night he would demand $40,000 ball from Swartz when the hearing is held. It is said that the directors of the bank were aware of the shortage several days ago and gave Swartz a chance to make good, which he promised to do. He falled and information was laid against him by E. M. Diebold, vicepresident of the bank. The accused man was the largest stockholder in the institution. According to President E. C. Chalfant the bank has approximately $2,400,000 deposits and 12,000 depositors.
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STATE BANKING COMMISSIONER INPITTSBURGH John S. Fisher Will Assist in Handling Affairs of Park Bank Pittsburgh, Feb. 15.-E. C. Chalfant, president of the Park Bank, which closed its doors Thursday morning following the arrest of J. S. Swartz, cashier, charged with peculations amounting to more than $250,000, reiterates his former statement that depositors will probably not lose a cent by the alleged defalcation. The depositors are insisting that the bank. be reopened and this, officials say, will be done in a short time, as soon as the state banking officers have examined the books thoroughly. The question of appointing a permanent receiver will not be decided until Peter G. Cameron, state examiner, has made his report. Banking Commissioner John C. Fisher and Deputy Attorney General B. J. Myers, of Harrisburg, arrived today to assist in handling the bank's affairs. President Chalfant stated tonight that the depositors of the bank would not under any circumstances lose more than $100,000 and probably nothing at all.
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REPORT $250,000 EMBEZZLED. J. F. Swartz, Pittsburg, Penn., Cashier, Arrested-Bank Closed Doors. Pittsburg.-With the arrest of J. F. Swartz, cashier, charged with embez. zling $250,000 of its funds, the Park bank, one of the leading financial in. stitutions in the East End, was closed. It was announced that D. G. Camerson, state bank examiner, had been appoint. ed receiver. The bank's statement on Jan. 1 showed deposits of $2,235,859. According to the police Swartz at. tempted to commit suicide shortly before officers arrived at his home in a fashionable residence section of the city.
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REPORT $250,000 EMBEZZLED. J. F. Swartz, Pittsburg, Penn., Cashier, Arrested-Bank Closed Doors. Pittsburg.-With the arrest of J. F. Swartz, cashier, charged with embez. zling $250,000 of its funds, the Park bank, one of the leading financial in. stitutions in the East End, was closed. It was announced that D. G. Camerson, state bank examiner, had been appointed receiver. The bank's statement on Jan. 1 showed deposits of $2,235,859. According to the police Swartz at. tempted to commit suicide shortly before officers arrived at his home in a fashionable residence section of the city.
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Receiver for Pittsburgh Bank Harrisburg, March 21.-G. H. Getty, New Wilmington, has been appointed permanent receiver of the funds of the Park Bank, Pittsburgh, by the Dauphin County Court. Peter G. Cameron, of the State Banking Department, had served as temporary receiver since February 13. The directors offered no objections.
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Commonweaith of Pennsylvania, ex rel., William I. Schaffer, Attorney General, vs. The Park Bank. No. 4 Commonwealth Docket, 1919, Court of Common Pleas of Dauphin County, Pennsylvania. To the creditors, stockholders and persons otherwise interested in The Park Bank. NOTICE is hereby given that at 10 o'clock a. m., on September 15, 1919. there will be presented to the Court of Common Pleas of Dauphin County, Pennsylvania, at Harrisburg, Pa., the petition of G. H. Getty, Receiver of The Park Bank, asking for authorization to sell to Herman Holm, of Pittsburgh, Pa., the real estate hereinafter described, on the following terms: For the sum or price of six thousand two hundred and fifty ($6,250.00) dollars, to be paid by the purchaser as follows: Five hundred ($500.00) dollars, hand money already paid to receiver: one thousand seven hundred and fifty ($1,750.00) dollars, cash on delivery of deed: and the assumption by the purchaser of a certain mortgage for four thousand ($4,000.00) dollars, to which the said hereinafter described property is now subject. The said property is all that certain lot or piece of ground situate in the Twelfth ward of the City of Pittsburgh, County of Allegheny and State of Pennsylvania. BEGINNING at a point of the southerly side of Frankstown avenue distant south 67 degrees east one hundred fifteen and thirty one hundredth feet (115.30) from the southeast corner of Frankstown avenue and Torrens streets, thence in a southerly direction 57 degrees east along the southerly side of Frankstown avenue, sixty-three and ninety-two one hundredths feet (63.92) to a point. thence south 23 degrees west, at right angles with said Frankstown avenue, one hundred thirty-two and seventy-six one hundredths feet (132.76) to a pin. on the north line of Transit alley, thence northwest. along said alley, sixty-four and seventy-eight one hundredths feet (64.78) to a pin. on line dividing this property from property of, now or late, L. L. Davidson. thence along this line in a northeastwardly direction. and through the center of the partition wall dividing the two brick houses thereon, one hundred forty-three and thirty one hundredths feet (143.30) to a pin. on the southerly side of Frankstown avenue, the place of beginning. having thereon erected a three-story dwelling, known as No. 6624 Frankstown avenue. G. H. GETTY, Receiver of The Park Bank.
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Commonwealth of Pennsylvania, ex rel William I. Schaffer, Attorney General vs. The Park Bank, No. 4 Commonwealth Docket, 1919, Court of Common Pleas of Dauphin County, Pennsylvania. To the creditors, stockholders and persons otherwise interested in the Park Bank: Notice is hereby given that at 10 o'clock ,A. M., on the 22d day of September, 1919, there will be presented to the Court of Common Pleas of Dauphin County, Pennsylvania, at Harrisburg. Pa., the petition of G. H. Getty, receiver of The Park Bank, asking for authorization to sell to John E. Born, of Pittsburgh, Pa., the real estate hereinafter described, on the following terms: For the sum or price of $16,000.00; $500.00 of which has already been paid to receiver as hand money; $2,500 cash on delivery of deed and the assumption by the purchaser of a mortgage of thirteen thousand ($13,000.00) dollars, to which the property is now subject. The said property is all that certain lot or piece of ground situate in the Eleventh ward of the City of Pittsburgh. County of Allegheny and State of Pennsylvania. Beginning at the southeast corner of Beatty street and Stanton avenue. extending thence southeasterly along the southerly line of Stanton avenue, a distance of fifty-five (55) feet to a pin; thence southwesterly on a line parallel with Beatty street a distance of one hundred twenty and fifty-eight hundredths (120.58) feet to line of land now or late of Laura B. Barbour: thence northwesterly along said line a distance of fifty-five (55) feet to the east line of Beatty street, and thence northeasterly along said line of Beatty street. one hundred twenty and fifty-eight hundredths (120.58) feet to the place of beginning. Having erected thereon a brick house and garage numbered and known as 500 Stanton avenue. G. H. GETTY, Receiver of The Park Bank. EDMUND K. TRENT, Attorney for Receiver, 200 Bakewell Building, Pittsburgh, Pa.