Western National Bank - Pittsburg, PA

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 4918
Charter Number: 4918
Start Date: January 16, 1906
Location: Pittsburg, Pennsylvania (40.441, -79.996)

Metadata

Model: gpt-5-mini
Short Digest: 46ea09d6

Response Measures

Accommodated withdrawals

Description

Cashier S. C. Armstrong mysteriously disappeared (reported possibly short), prompting depositors to withdraw funds. Bank officials insisted accounts were straight and paid withdrawing depositors promptly; no suspension or closure mentioned in the articles.

Events (3)

1. June 8, 1893 Chartered

Source: historical_nic

2. January 16, 1906 Run

Cause: Bank Specific Adverse Info
Cause Details: Mysterious disappearance of cashier S. C. Armstrong with reports he was short a large sum, causing depositor alarm and withdrawals.
Measures: Officials promptly paid depositors requesting funds and stated there were sufficient funds to meet demands.
Newspaper Excerpt: the cashier of the Western National bank ... has suddenly and mysteriously disappeared ... it is reported that he was short a huge sum and the bank is now suffering from a run.
Source: newspapers

3. December 27, 1923 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (2)

1. January 16, 1906 The Daily Sentinel Grand Junction, CO

Article from The Daily Sentinel, January 16, 1906

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Article Text

Bank Cashier Disappears Special to-The Sentinel. Pittsburg, Pa., Jan. 16. - The cashier of the Western National bank. of this city, has suddenly and mysteriously disappeared and the police believe that he has committed suicide by drowning in the Allegneny river. It is reported that he was short a huge sum and the bank is now suffering from a run. The bank officials declare that the missing man is not a defaulter.

2. January 17, 1906 Omaha Daily Bee Omaha, NE

Article from Omaha Daily Bee, January 17, 1906

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Article Text

RUN ON A PITTSBURG BANK Disappearance of Cashier Causes Foreigners to Demand Their Cash from Institution. PITTSBURG, Jan. 16.-As the result of the mysterious disappearance of S. C. Armstrong, cashier of the Western National bank of Pittsburg, over three weeks ago, the depositors-mostly foreigners -started a run on the bank last evening. The withdrawing of deposits was resumed today. the largest amount taken out by an individual depositor being $14,000. The bank's deposits aggregate over $1,000,000. The officers of the bank said today that the cashier has been missing for more than three weeks, but stated emphatically there was no discrepancy in his accounts. Every depositor making application for his money was promptly paid and the bank officials say there is plenty of funds to meet any demand which may be made. The police have been asked to search for the missing cashier. Mr. Armstrong has always borne a good reputation and his accounts are said to be straight and his prolonged absence has caused much concern.