6ab91a55Accommodated withdrawals, Capital injected
Click image to open full size in new tab
Run on a Bank. PITISBURG, March 13.-A result of the failure of the Boeder Glue Company was a heavy run today on the Real Estate Loan and Trust Company's Bank of Allegheny. The bank met all checks and applied for police protection tomorrow.
Click image to open full size in new tab
week. Mr. Haughey came to the city accordingly, but after he had talked with an attorney he refused to attach his name to any affidavit or petition. He said that he had been instructed by his lawyer to sign nothing. Mr. Haughey talked with several of his friends while in the city, and appeared to be in pretty good physical condition. He exhibited much mental depression. He returned early to his home in Springdale. Mr. Kern then decided to go it alone in his application to court. Accordingly, his attorney, P. C. Knox. late in the afternoon appeared before Judge Stowe and asked for a rule to stay some of the executions issued against the William A. Baeder Glue Company. ONE OF THE LITTLE LISTS. The executions referred to were based on the following judgments: Gregor Meyer, President of the Real Estate Loan and Trust Company, $19,466 53; Acme Tanning Company, $2,935 85; Spiegel & Co., $10,815 77; William Flaccus & Son, and William Flaccus, trustee, $26,000; total, $59,218 15. The request for this rule was supported by the affidavit of Howard R. Kern, stating that the judgments had been confessed by L. C. Haughey, without the knowledge or consent ot the two other members of the firm; that the greater part of the amounts claimed consisted of L. C. Haughey's personal liabilities, and that the William A. Baeder Glue Company really owed to the several parties named less than $14,000. Mr. Knox asked that a rule be issued on all parties concerned to show cause why the executions should not be stayed as far as the property of the partnership was concerned. The rule was granted, returnable one week from to-day. The connection of the Real Estate Loan and Trust Company's bank with the glue company caused yesterday a slight run on that institution. President Meyer and Cashier Schauer both declared that the bank would not be aflected. President Meyer said: AS SOLID AS ANY. "The bank is as solid as any in the two cities. It is not a chartered institution, but an individual liability concern, and the stockholders are good for thousands of dollars morethan the bank owes." Mr. Meyer said that, in addition to the judgment for $19,500, the bank holds accounts against the William A. Bader Glue Company for $10,000, not yet due, but amply secured by indorsements. Before his departure for Philadelphia last evening, Mr. Kern said: "We always sent to Haughey, from the New York office, money for all the legitimate payments he had to make, every month, up to the time of his last cash statement, and we have paid all the bills he has o Kd up to two days after the Sheriff's levy was made here a week ago. Our payroll was something over $2,100 every two weeks. Between December 11 and January 14, we sent $64,000 to him, which he paid out for wages, stock, freight and other legitimate items. His cash statements in New York show that abundantly supplied him with all necessary funds for the operation of the works." Mr. Kern goes from Philadelphia to New York, to prepare a full financial statement of the firm's liabilities and disbursements, for presentation to the court next Friday. A meeting of the creditors of the company will be held in this city next Monday. NEED A POLICEMAN. Last evening the officers of the Real Estate Loan and Trust Company's Bank, on Ohio street, Allegheny, applied to Mayor Pearson to have a police officer stationed at the bank to-day. The sidewalk in front of the bank was so thronged yesterday bv curiosity seekers that business was impeded.
Click image to open full size in new tab
A Run on a Bank. PITTSBURG, March 13.-As a result of the failure of the Baeder glue company there was a heavy run to-day on the Real Estate Loan and Trust company's bank of Allegheny. The bank met all the checks and applied for police protection to-morrow.
Click image to open full size in new tab
Depositors' Run On a Bank. PITTSBURG, March 13.-As a result of the failure of the Bolder Glue Company, a heavy run was made today on the Real Estate, Loan and Trust Company's bank at Alleghany. The bank met all checks and annlied for police protection to-
Click image to open full size in new tab
Run on a Bank, PITTSBURG, Pa.. March 15.-There was a run on the Bank of the Real Estate Loan and Trust Company of Allegheny. It was caused by the failure of the Baeder Glue Company, in which the bank was interested. All day long depositors filed up to the window.
Click image to open full size in new tab
THE BANK STUCK LIKE GLUE. Heavy Runs on the Real Estate Loan and Trust Company Met by the Officials-Big Deposits Made Yesterday-More Suits Against the Baeder Concern. The expected runs on the Real Estate Loan and Trust Company, of Allegheny, did not materialize to any great extent yesterday. The police officers sent to the bank to prevent the crowd from mobbing the place found but little business on their hands. Early in the morning the anxious depositors crowded the banking room, but outside there was little excitement. What extra demand was made for money, however, gradually died out when it was found that the institution was ready and willing to meet all comers with desks fairly loaded with bills and coin. During the course of the morning, the already large supply was plentifully augmented by large deposits from Father Mollinger, William Eberhart, George Meyer, and others having implicit confidence in the stability of the bank. It is said that the first gentleman named, in the two days past placed no less than $40,000 in cold cash on the bank's counters. Father Mollinger informed the cashier that it he needed any more to see him through, to call upon him. Mr. Edwark Park, of Park Brothers, also invited the bank officials to do likewise if they needed funds. When a call was made at the bank about closing time everything was quiet. Large stacks of bills were in plain view, with which Cashier Schauer said he was ready and willing to meet anyone anxious to withdraw deposits. Mr. Schauer stated that after the first few anxious depositors had been assured that there was no danger of the bank being unable to meet all demands the accustomed serenity soon settled about the place, and since that time they had received more money than they had paid out. Talks with various depositors in the neighborhood developed the fact that their confidence was but little shaken in the institution; that they were in the main not afraid of it going under. Aside from the fact that they expected that within a few weeks the deposits might not be as large or as numerous as usual, within a very short time everything would come all right again. Messrs. Woelfel & Linke, of Allegheny, yesterday entered suit against the William Baeder Glue Company for $624 87 for merchandise sold and delivered. Messrs. Wettach & Co. filed a suit against the same company for $480 84, $225 of which was for goods sold, and the balance on a promissory note. MacKenzie, Davis & Co. sued the glue company for $126 or stationery. Judge White yesterday appointed the Sale Deposit Company receiver of the firm of Schumpf & Richards, to take charge at once.
Click image to open full size in new tab
A HEAVY RUN ON THE BANK. The Boeder Glue Company Failure Affects an Aliegheny Institution. As a result of the failure of the Boeder Giue Company. of Pittsburgh. a heavy run set in on the Real-Estate Loan and Trust Company's Bank. of Allegheny. The bank promptly met all checks. The glu, company failure is a very heavy one, but the bank officials say that but little paper was in their hands. and that they will pay every demand.
Click image to open full size in new tab
A HEAVY RUN ON THE BANK. The Booder Glue Company Failure A ffeets an Allegheny Institution. As a result of the failure of the Boeder Glue Company. of Pittsburgh. a heavy run set in on the Real-Estate Loan and Trust Company's Bank, of Allezheny. The bank promptly met all checks. The glu company failure is a very heavy one, but the bank officials say that but little paper was in their hands, and that they will pay every demand.
Click image to open full size in new tab
A HEAVY RUN ON THE BANK. The Boeder Glue Company Failure Affects an Alleghreny Institution. As a result of the failure of the Boeder Glue Company, of Pittsburgh, a heavy run set in on the Real-Estate Loan and Trust Company's Bank, of Allegheny. The bank promptly met all checks. The glue company failure is a very heavy one, but the bank officials say that but little paper was in their hands. and that they will pay every demand.