Third National Bank - Pittsburg, PA

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 291
Charter Number: 291
Start Date: July 8, 1913
Location: Pittsburg, Pennsylvania (40.441, -79.996)

Metadata

Model: gpt-5-mini
Short Digest: e356c4c1

Response Measures

Full suspension, Books examined

Other: Receiver (Charles C. Murray) appointed by Comptroller; government examiners had been investigating.

Receivership Details

Depositor recovery rate: 58.0%
Date receivership started: 1932-01-28

Description

Article (The Sun, 1913-07-08) reports a run on the Third National Bank of Pittsburg, followed by government action: the Comptroller closed the bank and a receiver was appointed. OCR errors in the text (e.g., PITTSBURG spelled without final 'h' occasionally) were corrected when interpreting key facts. The sequence is run → suspension/closure with receiver, so classified as run_suspension_closure.

Events (5)

1. February 27, 1864 Chartered

Source: historical_nic

2. July 8, 1913 Receivership

Newspaper Excerpt: Charles C. Murray has charge of the bank as receiver ... application was made to the United States court for a receiver ... a receiver was named by the court for the failed bank
Source: newspapers

3. July 8, 1913 Run

Cause: Bank Specific Adverse Info
Cause Details: Adverse findings by Treasury examiners and unresolved valuation disputes over the bank's securities; inspections deemed condition unsatisfactory, prompting withdrawals.
Measures: None described in article prior to closure; depositors flocked and crowds gathered at doors guarded by policemen.
Newspaper Excerpt: RUN STARTS ON THIRD ... soon flocking rapidly crowds of depositors began ... closed bank
Source: newspapers

4. July 8, 1913 Suspension

Cause: Government Action
Cause Details: Acting Comptroller and Treasury examiners closed the bank and directed receivership due to unsatisfactory condition and disagreement over valuation of holdings.
Newspaper Excerpt: This bank has been closed by direction of the Acting Comptroller ... a receiver has been appointed
Source: newspapers

5. January 28, 1932 Receivership

Source: historical_nic

Newspaper Articles (1)

1. July 8, 1913 The Sun New York, NY

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Article Text

RUN STARTS ON THIRD Forty Public Utility Companies and Private Bank Affected. DEPOSITS ARE $32.000,000 Intimation That Reports Made Public Did Not Show True Situation. July -The First-Becond failed to PITTSBURG, Bank of this city mornNational doors for business this than open its merged bank has more secing. $32,000,000 The in deposits, and is the and largest In this State. a notice appeared this in mornWhen doors of the bank ave- the ing on the story building at Fifth spread :wenty-four Wood street. the news anxnue and through the city. and soon flocking rapidly crowds of depositors began turned 10us closed bank. but they were the, to the who guarded which the throngs away by Among policemen. persons who doors. the bank all day were deposited haunted have their life savings in the effect institution. of the closing was felt be- by The institutions here. depositors deposits ginning other to withdraw their from many after banks. the bank closed. the First a Soon Bank of McKeesport and their National at Amherst. Ohio, 'closed Bank of bank The First National Kuhn doors. is controlled by the promiMcKeesport which are Identified National nently interests. with the First-Second Bank Kuhn. president of the his closed wife W. B. is at the bedside of Mrs. institution. Crossing. Mass., where yesterat Prides gave birth to a baby boy during Kuhn explained his absence This bank. day. the trying hour at his Government officers in Charge. failed bank is now in the hands The The Government authorities. doors following of the notice appeared on the of bank: the closed by the direction Currency of and the acting This Comptroller bank of of the National Sherill Bank Smith. Examiners now in the Samuel hands M. Hann and "T. P. KANE, "Acting Comptroller." Later a new notice was posted which apread: "This bank acting has been Comptroller closed by of the been the direc- Curtion of the Charles C. Murray has charge of the pointed rency. receiver and is now in bank Murray later had a notice Receiver which is as follows: will be received.' posted. Payment of all items maturing here closing of the bank is the attributed action The of the directors to authorities of by the one Government with banking the bank officials failing to the to agree value of the holdings and as securities of the asserted bank. that the bank The director that the depositors will of the is solvent and full. The consolidation banks brought be paid First in and Second national about with last knowledge March was and approbation However, of Gov- the the authorities. Washingernment in administrations in influence in change last spring put a new About a ton Department. were dethe Treasury special examiners conduct an month ago Washington to the bank. investigation tailed from of the affairs of New Washington officials which Blamed. was condition of affairs former Governcountenanced The by the was not satbanking authorities and the ment isfactory to the new officials officials, present Treasury Department refusal of the direcit is said. and the conditions which comply with and unnecessary tors considered to unjust suspension. have they the order of associates brought W. S. Kuhn and his they should for made the all welfare the sacrifices of the declined institution. to commit their friends say. and further they They charge author- the themselves Treasury Department the former ninety this ities present off Hals with approved repudiating asked what days ago. afterA receivership was S. & W. S. Kuhn the noon for the which J. has been local one of bankmost Company. influential factors J. K. in Duff, treascircles for years. named the receiver urer ng of the in the company. United States was court by the Judge Orr. for a receiver for An application Works and Guarantee conCompany American of Water New Jersey. which was is asked trolled by the Kuhn interests. This company for in the identified same court. with water and United irrihas been projects throughout the Kuhn and gation J. S. Kuhn. W. 8. company. States. H. Purdy, officials of the by the court. J. named the receivers later. were A fourth will be named Kahum Have Extensive control Interests. many Kuhn interests the western The lines throughout at present traction district and along the building immense Virginia Pennsylvania dams with the are River in West many of Cheat which to furnish power controlled for by them. traction companies news of the closing of An the hour First after National the Bank reached Mc-