19410. Pennsylvania Bank (Pittsburgh, PA)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
May 21, 1884
Location
Pittsburgh, Pennsylvania (40.441, -79.996)

Metadata

Model
gpt-5-mini
Short Digest
84b3a724

Response Measures

Borrowed from banks or large institutions, Full suspension, Books examined

Other: Multiple episodes: initial run and suspension (May 21–22), resumption May 23, second suspension May 26 and assignment/receivership late May. Clearing house loan and examination by directors noted; eventual assignee Henry Warner took charge.

Description

Contemporary accounts report a multi-day run and suspension on May 21, 1884, followed by resumption May 22. The bank closed again May 26 and soon went into the hands of an assignee/receiver by late May with large deficits revealed and arrests of officers. I classify the overall episode as run -> suspension -> eventual permanent closure/receivership. Initial run was driven by rumors; the ultimate collapse was due to bank-specific oil speculations/shortages.

Events (6)
1. May 21, 1884 Run
Cause
Rumor Or Misinformation
Cause Details
Articles state 'unfounded reports' and 'rumors' that the bank allowed oil brokers to overdraw accounts led to heavy withdrawals ($500,000-$700,000 in days).
Measures
Bank posted notice of suspension of payment and placed officers at doors; bankers met and offered assistance.
Newspaper Excerpt
Owing to a continuous run for several days, we have decided that it is wise for our depositors and all concerned to suspend payment for the present.
Source
newspapers
2. May 21, 1884 Suspension
Cause
Rumor Or Misinformation
Cause Details
The suspension announcement cites continuous run driven by 'unfounded reports' and malicious persons; clearing house difficulties noted as well.
Newspaper Excerpt
The Pennsylvania Bank of this city closed its doors at 12.30 this afternoon, and posted the following notice ... to suspend payment for the present.
Source
newspapers
3. May 22, 1884 Reopening
Newspaper Excerpt
Business will be resumed at the Pennsylvania Bank tomorrow with $680,000 in cash on the counter and a reserve fund of $450,000 for emergencies. Doors were thrown open at 2:30 P.M.; the bank was crowded but nearly as many depositing as drawing out.
Source
newspapers
4. May 26, 1884 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Second suspension accompanied by reports of heavy check drawings, clearing house 'threw out checks' and later disclosures point to large losses from oil speculations and heavy deficits.
Newspaper Excerpt
The Pennsylvania Bank closed its doors again at 12 o'clock to-day, and posted the following notice ... it is deemed proper to close the bank under existing circumstances until [President Riddle] sufficiently recovers ...
Source
newspapers
5. May 29, 1884 Other
Newspaper Excerpt
Henry Warner, assignee of the Pennsylvania Bank, has taken charge and discharged the clerks ... the deficits ... will reach fully $1,250,000. Bonds, stocks and other collaterals ... are said to be missing.
Source
newspapers
6. June 2, 1884 Other
Newspaper Excerpt
President Riddle and Cashier Reiber of the suspended Pennsylvania Bank at Pittsburg, have been arrested on charges of conspiracy to defraud the bank.
Source
newspapers

Newspaper Articles (21)
1. May 22, 1884 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, May 22, 1884

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AN ANGRY PEOPLE. The Pennsylvania Bank Closes I''s Doors on Account of a Run. PITTSBURG, Pa., May 21. The Pennsylvania Bank of this city closed its doors at 12.30 this afternoon, and posted the following notice : Owing to a continuous run for several days, we have decided that it is wise for our depositors and all concerned to suspend payment for the present. There is great excitement A large crowd surrounds the bank. Officers have been placed at the doors. President Riddle of the Pennsylvania bank which has been doing the largest business of any bank here states: "Owing to the unfounded reports made current bv interested and malicious persons there has been a run for several days and our deposits have decreased between $500,000 and $700,000 in five days. We therfore deem it wise to take the action which we have." President Schwerts of the Third National bank said he had seen the balance sheets of the Pennsylvania bank and thought it would be able to pay all of its debts and that it was solvent. The other banks here are strong enough to stand the crisis. They would stand by each other as they did in New York. At a meeting of the bankers tonight it was decided to pay off the liabilities of the Pennsylvania bank. the latter being deemed solvent. Presdent Riddle of the Pennsylvania bank said tonight," The directors this afternoon began an investigation of the affairs of the bank. The examination justifies the statement that the bank will pay, dollar for dollar, on the deposits and stock. We have received offers of assistance from many sources."

2. May 22, 1884 Seattle Daily Post-Intelligencer Seattle, WA
Article from Seattle Daily Post-Intelligencer, May 22, 1884

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of a Pittsburg Bank. PITTSBURG, May 21.-The Pennsylva his Bank of this city closed its doors at 12:30 p. m., and posted the fo:lowing on the doors: "Owing to a continued run for several days we have deeided it wise for our depositers and all concerned present." to suspend payment for the There is great excitement, and R large crowd surrounded the bank. Officers have been placed Pennsy Wm. N. Riddle, at the President doors. of the ing Ivania Bank, business which of bas any been bank do- in up from the sick bed from bank. made hemorrhage, for The following having and been statement IS now prostrated at was the have am here nothing to the face to Associated Bay the in music detail Press : now, but "I duty. Owing to unfounded and do my have belous made 08 for been current persons, several decreased by days, there interested and has been our and A deposits reports run ma- on $700,000 in a few days. from We $5,000,000 therefore to deemed it wise to take the action done. Further we have nothing to now est that I am individually the larg- say loser, having the largest deposit and to Bank largest allowing interested It is said and am that oil parties unt two brokers rumors of other that stock were the banks in Pennsylvania set the have afloat bank." their been by bank stock Bank. accounts. holders It is The said on result that the the overdraw was Pennsylvania suspended a run of is entirely solvent and will pay every dollar of debt or deposits. The capital stock is $200,000. A full statement assisted The is Pennsylvania promised in meeting this its evening. Bank yesterday t 000 the Clearing House by a obligations loan of $100,made by the Farmers' Deposit Na-

3. May 22, 1884 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, May 22, 1884

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Share speculation to-day was exceedingly erratic. At tunes the market was positively strong, and again at intervals there were periods of depression. Dur ng the morning there were rumors afloat that certain large houses were in trouble and that their suspension was likely. Subsequently the failure of a small stock concern was made public, but no other suspensions were announced. The market opened irregular but lower. and then advanced 4@1. Western Union sold up 1. Northwestern 1, St. Paul 34, Louisville and Nashville %, Lake Shore ½ Missouri Pacific 3/19 Pacific Mail %. A vigorous attack was afterward made on coal shares, and round amounts of long stock were shaken out. Illinois Central broke 5. Reading 2%, Lackawanna 2%. Shares were depressed on repor ts that the question of curtailment of production during June would probably result in the disruption of the coal combination. Reading and Illinois Central were also afflicted by the issuance of scrip by the former company. The general market declined sharply in sympathy with the break in authracite coal shores. Canada Southern dropped 1½, Northwestern 1½, St. Paul 2½, Louisville and Nashville 1½, Lake Shore 1½, Missouri Pacific 2½, New York Central 1, Northern Pacific preferred 2½, Oregon Transcontinental 1½, Pacific Mail 1, Union Pacific 1½, and Western Union 1%. The last memioned soon became strong. rising 2½, and this changed the temper of speculation. A sharp demand set In for all active stocks, prices moving up 1%@2%. In the afternoon the failure of the Pennsylvania Bank, of Pittsburgh, was reported, and this occasioned a fresh selling movement. It was also rumored that an institution at Philadelphia was in trouble. Reading dropped to 29. Western Union fell off to 54%, Jersey Central 66%, Northwest 102, St. Paul 67%, Lackawanna 104%, Lake Shore 84%, Louisville and Nashville 30%, and Missouri Pacific 64%. Near 2 P. M. there was a sudden and sharp change for the better, and many of the leading stocks commanded a premium for use. The premium in Northwest. St. Paul, Laekawannna, Louisville and Nashville, Lake Shore, Missouri Pacific. Pacific Mail, and Western Union were most prominent, and advanced to the highest point of the day. Near the close Union Pacific was hammered down to 40 by one of the leading bear operators. Private advices were received from Omaha to the effect that Aman & Adams, of the Union Pacific, had found the affairs of the Union Pacific in a much worse condition than was expected. and they were utterly helpless to improve the situation. Official advices, however were exactly to the contrary. The drop in Union Pacific caused a decline of 4@1% in the general list. The market closed irregular with Western Union, which was noticeably strong. Compared with last night's closing, prices are X@¥ higher for Canada Southern, Quincy, Northwest, Missouri Pacific. Kansas and Texas, New York Central Erie, Northern Pacific. Oregon Transcontivental, Pacific Mail. Omaha, Texas Pacific, and Western Union. while Union Pacific is 3½ lower; Reading Michigan Central, and Northern Pacific preferred 15, Jersey Central 4, Northwest preferred 2½ Denver 1½, and Central Pacific, St. Paul, Lacka wanna. Delaware and Hudson. and Louisville and Nashville ½ to % lower. Sales, 435,000 shares. BALTIMORE. BALTIMORE. May 21.-Virginia 6's, deferred 7; Virginia consol, 39%; past-due coupons, 37%; new 10-40's, 31%; new 3's, 53 bid.

4. May 22, 1884 Daily Los Angeles Herald Los Angeles, CA
Article from Daily Los Angeles Herald, May 22, 1884

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More of the Pittsburg Failure. PITTSBURG, Pa., May 21.-Atlo'clock, on account of the announcement of the suspension of the Pennsylvania Bank, the feeling was very much unsettled and panicky. Trade was excited and a dis. position to get rid of oil prevails* William N. Riddle, President if the Pennsylvania Bank, which is doing the largest business of any bank in Pittsburg got up from a sick bed this morning, having been prostrated with hemorrbage and by the row at the bank. The following statement was made for the Associated Press: "I have nothing to say in detail now, but am here to face the music and do my duty. Owing to the nnfounded reports made current by interested and mali cious persons there has been a run on us for several days and our deposits have been decreased from five to seven hundred thousand in a few days. We therefore deemed it wise to take the action now done. Further I have nothing to say except that I am individu ally the largest loser, having the largest deposit and largest amount of stock in the bank." It is said rumors were set afloat by interested parties that the Pennsylvania Bank and two other banks have been allowing oil brokers to overdraw their accounts. The result was ruin. One of the stockholders of the Pennsylvania Bank says the suspended bank is entirely solvent and will pay every dollar of its deposits. The capital stock is $200,000. A full statement is promised this evening.

5. May 22, 1884 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, May 22, 1884

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A Bank Fails. Pittsburg, Pa, 21.-The Pennsylvania bank, of this city, closed its doors at 12.30 p. m., and posted the following on the doors: Owing to Sue continued run for several days, we have decided it wise for our depositors and all concerned to suspend payment for the present." There is great excitement and a large crowd surrounds the bank. Officers have been placed at the doors. Wm. N. Riddle, president of the Pennsylvania banz, which was doing the largest business of any bank in Pittsburg. got up 'rom a sick bed this morning having been prostrated from hemorrhage and is now at the bank, The following statement was made for the Associated Press. I have nothing to say in detail now, but am here to face the muslc and do my duty. Owing to unfounded reports made current by interested and malicious persons, there has been a run on us for several days, and our deposits have been decreased from $500,000 to $700,000 in five days. We therefore deemed it wise to take the action now done. Further, I have nothing to say except that I am individually the largest loser, having the largest deposit and the largest amount of stock in the bank.' It is said rumors were set afloat by interested parties, that the Pennsylvania bank and two other banks had been allowing oil brokers to overdraw their accounts, and the result was the run. One of the directors of the Pennsylvania bank says the bank is entirely solvent and will pay every dollar cf its debt or deposits. The capital stock is $200,000. A full statement is promised this evening. The Pennsylvania bank yesterday succeeded in meeting its obligations at the clearing house, by a loan of $100,000, made by the Farmer's Deposit National Bank, through which it cleared. It was hoped matters would be put in shape todays and that the bank would be able to meet its paper when presented. The result was a disappointment, and checks of the Pennsylvania bank were returned by the Farmer's bank. Of the aggregate amount of checks thus returned, the Farmer's bank officials refuse to make any statement, but as the aggregate exchanges at the clearing house were a little below this yes terday. the total could not have been nearly as large as usual in ordinary times. The Pennsylvania bank had out a very large amount in checks, but for some days past it had fallen off greatly. A meeting of the associated banks will be held this afternoon to take measures to sustain all banks, similar to the action taken in New York. Wm. E. Schmeriz, president of the Third National, says he had seen the balance sheet of the Pennsyl. yania bank, and thought they would be able to pay all debts, and that it was solvent. Other banks he regarded as strong enough to stand the crisis. President Riddle, to-night, made the following official statement to h the Associated Press: "The board 1 of directors met this afternoon and V began an examination in the affairs \ of the bank. Their examination 0 ustifies them and myself in the statement that the bank can, as I matters now stand. pay dollar for dollar on deposits." Mr. Ridlle refused to give any statement of liabilities or assets. B From an outside source it was earned that the liabilities do not a H exceed $1,500,000, and that the asets will more than cover this. The just only question is time to realize. The bank is credited with heavy speculaion, but this is denied. The direct cause is attributed to rumors growng out of clearances on the ju betroleum exchange being taken ti way from the Pennsylvania bank, W which up to a few days ago was the b clearing house of the exchange. The m change was made several days ago d and the business transfered to y Farmer's Deposit National. This re ave rise to rumors that the bank h vas in trouble or likely to be, and a d un began. Feeling to-night is unn asy and it is feared that runs will to e made on several banks to-mortl JW. p

6. May 23, 1884 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, May 23, 1884

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FINANCIAL. The New York Failures. NEW YORK, May 22.-Early this morning Ferdinand Ward left the Sinclair House, where he remained last night with a deputy sheriff, and went to his lawyer's office. In all there are four affidavits, one against Ward, but it is impossible to learn who the other affidavits are against outside of J. Nelson Tappan. The report that the Metropolitan Bank will be wound up was revived today. Rumors were floating around on Wall street this afternoon which could be traced to no reliable source that U.S. Grant, Jr, had suddenly left for Canada. 2.30 P. M-E. H. Shaw has announced his suspension. Amos R. Eno has mortgaged the Fifth Avenue Hotel property to the Mutual Life Insurance Company for $1,250,000. Jay Gould today telegraphed W. H. Vanderbilt in London giving cheering views of the financial situation and prospects for the future, and Mr. Vanderbilt replied that his idea coincided with those of Mr. Gould. Gen. U.S. Grant stated tonight that the rumor that his son, U.S. Grant, Jr., had fled to Canada to escape arrest was wholly without foundation. Grant & Ward's Failure. The counsel for Ferdinand Ward states that no attempt will be made to secure bail for his client, as if successful other arrests would follow and it would be impossible to find bail for all the charges. The officer in charge of Ward states that the latter will not be locked up 80 long as he pays his way outside. The affidavit of City Chamberlain Tappan, which caused Ward's arrest, is substantially as follows: In September, 1883, Ward informed him that his firm was largely engaged in the business of buying contracts of the United States government, and that in consequence of the delay in getting their money contractors sold their contracts at a great sacrifice. Representation was made that Grant, Ward & Co. could, through their influence with the government, secure speedy and prompt payments of such claims and that the profits from these transactions were very large and they had decided to give a few friends an opportunity to share these profits. Relying upon these statements Tappan advanced altogether about $600,000. Deponent avers that these statements were false and known to be 80 when made. Ferdinand Ward was tonight immured in a cell at the Ludlow street jail. As yet no order of arrest have been issued for J. D. Fish or any of the Grants. The Pennsylvania Bank. PITTSBURG, Pa., May 22.-A more complete understanding of the exact condition of the Pennsylvania Bank and a feeling that it will be able to pay all of its liabilities together with concerted action of the bankers last night, has had a reassuring effect and confidence to a large extent has been restored. Business will be resumed at the Pennsylvania Bank tomorrow with $680,000 in cash on the counter and a reserve fund of $450,000 for emergencies.

7. May 23, 1884 Bismarck Tribune Bismarck, ND
Article from Bismarck Tribune, May 23, 1884

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The Pennsylvania Bank. PITTSBURG,May 22,-A more complete understanding of the exact condition of the Pennsylvania bank and a feeling that they will be able to meet all liabilities together with the concerted action of bankers last night, has had a reassuring effect and confidence to a large extent has been restored. It was feared that there would be runs on several banks reported last night as in a weak condtion, but a visit to the alleged shaky institutions today found all serene with a checking out not much greater than usual. The bankers expressed themselves as perfectly able to meet all demands made on them. The officials of the Pennsylvania bank are busy getting their affairs in shape for resumption tomorrow. Their chances were good today and tomorrow they will open their doors with $600,000 in cash on their counters. Many of the largest depositors have signified their intention of allowing their money to lay in the bank and long before the regular hour of opening this morning a number of the heaviest depositors forced their way to the side entrance and insisted on making deposits. The bank re-

8. May 23, 1884 Seattle Daily Post-Intelligencer Seattle, WA
Article from Seattle Daily Post-Intelligencer, May 23, 1884

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The Suspended Bank PITTSBURG, Pa., May 22-1 more complete understanding of the exact condition of the Penasylv BIA bank, and a feeling that they will be able to pay all liabilities, together with the concerted action of the bankers Inst night, has had a good effect, and confidence has to a large extent been restored. It was feired that there would be runs on sev. eral banks posted on the street last night as in a week condition, but A visit to the alleged shaky ones at noon found that all WAS well. Checking out WAS not much greater than usual. The bank. ers expressed themselves AS perfectly able to meet the demands made on them. The officials of the Pennsylvania bank are busy today getting their affairs in shape for a resumption tomorrow. Their clearances were made good today, and tomorrow they will open their doors with $600,000 in cash on their counters. Many of the I rest depositors have sig nified their intention of allowing their money to lie in the bank, and long be fore the regular hoar for opening this merning, a number of the heaviest depositors forced their WAY to the side entrance and insisted on making deposits. The bank refused to accept these however until they resure tomorrow. On the floor of the Exchange there was not much doing. The marketopened firm at 73, and adv need to 76, but dropped off at noon to 7436. The feeling was unsettled, and no orders were coming in.

9. May 23, 1884 Eureka Daily Sentinel Eureka, NV
Article from Eureka Daily Sentinel, May 23, 1884

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EASTERN A Sensation in the House of Representatives. HORR CHARGED ENGLISH WITH VIOLATINC THE PRIVILEGES OF THE FLOOR. The Pennsylvania Bank Opens Its Doors for Business. BEN BUTLER ACCEPTS THE NOMINATION OF THE NEW YORK ANTI-MONOPOLISTS. Arrival of the Faraday at Rockport, Mass., With the Cable. |SPECIAL TO THE SENTINEL.| Sensation in the House. WASHINGTON, May 28.-A decided sensation was created in the House by the action of Horr, in rising to a question of privilege, and charging Hon. William H. English with the violation of privileges as an ex-member, by lobbying in the interest of his son, as & contestant in the EnglishPeele election case. English was vigorously defended by Randall and Cox of New York, and no action was taken, though the resolution will probably be adopted today, directing the Committe on Rules to inquire whether English has violated the privileges of the floor. As a result of the English-Peele contest, William English has been sworn in as & member from the Seventh Indiana District. The vote was, ayes, 130; nays, 125. Horr promised, that if the investigation was ordered, to prove a good deal more than he had stated. The House has adopted the resolution, directing aspecial committee of seven to inquire into the question, whether or not William H. English has violated the privileges of the floor, or whether any ex-member, employed as an attorney in any contested election case, or for any railroad or other corporation, has abused its privileges. Pennsylvania Bank All Right. PITTSBURG, Pa., May 22.-A more complete understanding of the exact condition of the Pennsylvania Bank, and the feeling that they will be able to pay all liabilities, together with a concerted action of the bankers last night, has had a reassuring effect, and confidence to & large extent has been restored. It was feared there would be runs on several banks, as it was reported on the street last night that they were in a weak condition, but & visit to the alleged shaky institutions at noon found the checking out not much greater than usual. The bankers expressed themselves as perfectly able to meet the demands made of them. The officials of the Pennsylvania Bank are busy to-day getting affairs in shape for resumption to-morrow. Their clearances were made good to-day and to-morrow they will open their doors with $600,000 in cash OR their counters. Many of the largest depositors have signified their intention of allowing their money to lie in the bank, and long before the regular hour for opening this morning a number of the heaviest depositors forced their way to the side entrance and insisted on making deposits. The bank refused to accept them, however, until they resume to-morrow. Ben Butler Accepts. NEW YORK, May 22.-Gen. Butler accepts the nomination of the National AntiMonopoly organization for President of the United States. His letter of acceptance says: LOWELL, Mass., May 21, 1884. Gentlemen: I have the honor to receive your courteous note giving me the action of the convention at Chicago on the 14th inst. of the representatives of anti-monopoly. The honor of this designation, by such a body, as a candidate for the Presidency of the Republic, cannot be too highly appreciated. Concurring in each measure of public policy set forth in the resolutions, I need only add that if the votes of the electors shall intrust me with the executive powers of that high office, each of them will be fully, justly and energetically used to make every measure of relief to the people and reform in the Government pointed out by your platform of principles, realities of the administration. Accept for yourselves, personally, my most grateful consideration. BENJ. F. BUTLER. Lively Election Contest. WASHINGTON, May 22.-The House resumed the consideration of the Indiana contested election case of English VS. Peele. Blackburn supported the claims of the contestee. After considerable debate, Peele addressed the House in his own behalf,

10. May 23, 1884 Daily Los Angeles Herald Los Angeles, CA
Article from Daily Los Angeles Herald, May 23, 1884

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LATE TELEGRAMS. (SPECIAL TO THE HERALD. Appointments By Gov. Ntoneman, SACRAMENTO, May 22. Gov. Stone man has reappointed professor Henry G. Hanks State Mineralogist of the State of California for four years, Vice Self term expired. He also reappointed J. W Raymond, of San Francisco, and J. M Gritlith, of Los Angeles, commissioners to manage the Yosemite and Mariposa Big Tree Glove for the term of four years, vice themselves, term expired. Another Wrestling Match. SAN FRANCISCO, May 22 A wrestling match has been arranged between Clar once Whistler, of this city, and Tom Cannon, ebampion Grieco Roman wrest ler of England. The match will be Greeco Roman style, two falls out of three no draw allowed, and 110 rest to be giveu until a fall is gained. The match to take place within eighteen days Messuption or the Pennsylvania Hank. PITTSBURGH, Pa. May 22.-A more complete understanding of the exact con dition of the Pennsylvauia Bank and a feeling that they will be able to pay all liabilities together with the concentral e. action of bankers last night, has had a reaesuring effect and confidence to a large extent has been restored. It was Yeared there would be runs ou the banks reported on the streets last night as in weak condition, but a visit to the alleged shaky institution at noon found all was well with them checking out not much greater than usual. Bankers ex. press themselves as perfectly able to meet the demands made of them. Tle officiale of the Pennsylvania Bank are busy to-day getting their affairs in shape for resumption to mor row. Their clearances were made good to day and to-morrow they will open their doors with six hundred thou saud in cash on their counters Many of the largest depositors have signified their intentions of allowing their money to lty in the bank, and long before the regular hour for opening this morning a number of the heaviest depositors forced their way to the side entrance and in sisted ou making deposits. The bank refused to accept, however, until they resume to-niorrow. Proposed Resumption of Donnell, Lawsen & Mispson. New YORK, May 22 Donnell, Law son & Simpson say in a circular to their creditors: "We propose to all our cred. itors to pay them with our notes, paya ble in twelve and twenty four months, with six per cent interest, with an honorable understanding that if our basiness warrants it our obligations shall be discharged without respect to their maturity. This plan will enable us to resume with safety. would on the Financial Situation New YORK, May 22. -Gould says, " have proof outside of investors and heavy buyers in Western Union of two weeks stock taken from the street and traus ferred. Concerning the market he has very little to say. Parties with capital are anxious to get secureties at present figure`, and have every reason to suppose We have passed through the tra ibles He was talking to prominent bank officer this mero Ing. He declares we have nothing to fear from our associated banks, and each day brings a brighter outlook. Ward Under Arrest-Hail 630,000. NEW York, May 22 Ferdinand Ward, of Grant & Ward, was arrested this morning in this city by a Deputy U. Marshal, in n suit brought against him by Nelson J. Tappen, of this city Chamberlain Ward is held in $30,000 bail, the amount fixed in the order of arrest. He has not yet been lodged in all, but is in custody of the sheriff. Bail has Dot yet been furnished by Ward. Acceptance of General Matter New YORK, May 22. General Butler accepts tha nomination of the National Auti-Monopoly Organization for PresiSent of the United States. Hisl etter of Inceptance is as follows: LOWELL, Mass. May 21 GENTLEMEN: I have the honor to re five your courteous note giving me the otion of the convention at Chicago on his 14th instant as represe ntatives of ati-monopoly The honor of designaon by such body as a candidate for the residency of this republic cannot be o highly appreciated. Concurring in Ach measure of public policy set forth in the resolutions, I need only add if the votes and electors shall in vest the with the executive powers of that high office each of them shall be fally, justly and energetically used to make every measure a relief to the peoule and a reform in the government potated out by your platform of principles and the realities of the administration. Ac ept for yourselves personally my most heartfelt considerations. BENJ. F. BUTLER. (Signed) The "Old Tieket" in New Hamp shire CONCORD, N. H., May 22. The Dem ocrate chose district delegates to the National Convention who favor the "old cicket, but go uninstructed. Action of the National Methodist Conference. PHILADELPHIA, May 22.-The Meth dist Conference elected to the African Bishopric Wm. Taylor, of the South In ia Coderence. Dr. B. F Crary was lectededitor of the California Christian dvocite. presentative Money Corrected. MINGTON, May 22 Representa Noney denied that he expressed an dion to decline a renomination and newspaper in San Francisco. pwreek and Less of Life. DON, May 22-The British ship was wrecked at the Fiji Islands. y passengers were drowned How Boasmer Began. as a chanee remark at a gun trial

11. May 24, 1884 Sacramento Daily Record-Union Sacramento, CA
Article from Sacramento Daily Record-Union, May 24, 1884

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Jury Fish and John C. Eno. The rector and the othertwo as sidents of tional banks, for fraud and embezzlement was generally reported about town night It that John C. Eno lately the Second National Bank was to be rested. As matter of fact. Deputy McGonigal and three assistants passed evening in the vicinity of his house Park avenue little below Thirty on seventh street McGonigal went away about 9:20 but two of his assistants spent the night in the locality Keene Proposes to Settle NEW YORK May 23d. James R Keene proposes to settle with notes, payable and eighteen months The Pennsylvania Bank at Pitisburg PITTSBURG, May P Pennsylvania Bank has not vet opened doors. but expects to do SO in a W to utes. It was the original intention at o'clock, but the details some payment persons could not be arranged About 100 for iting are the pavement and steps been the doors to open. The bank has small deposits all day, and a very run is anticipated There no in financial circles. Confidence has been restored The doors were thrown open at 2:30. The bank crowded, but there are nearly many de repositing as are drawing out. A Week's Failures. NEW YORK May 23d. failures for increase seven days in the United States. 21: an of Another Defaulting Bank Officer. NEW YORK May 23d Charles A. Hinck Bank paying teller of the West Side lev avenue and Thirty -fourth street embezzled Eighth $96,000 of the bank funds discov- and decamped. The embezzlement was not ered Wednesday last. Hinckley did at the bank Wednesday morning sent and appear not answering to the summons was suspected of something his house, books were rhauled and the wrong. large His deficit detected. The bank offi certify that the capital stock of $200, of cers 000 is intact, and there is surplus connected $100,182. Hinckley has been teller, ever the bank, its paying with its organization fifteen years ago. since He was regarded as a man of most rigid integrity The Delayed Newspaper Mails. NEW YORK, May 23d Postmaster Pear re was seen this morning by reporter son garding the complaints of delay in new The mails to San Francisco H said service per from the East to the West is, of course, the most important in the country efforts are and have been constantly Our directed to its improv The evening here on the 8:50 P M fast mai papers leave New York Central road train over the months the connecWithin the past two rtened the West have been tions reach to Chicago at 11:55 the following on they fast train carries them night Omaha, special and the 3:30 mail carrying hours the to papers, which left several morning before overtaken at Ogden T mail T From this point out there is only one train the Under the recent arrange the papers leave Ogden on same San arrive This gets them to day they the same mail with the mornFrancisco date The service ing papers of the same been time Successi from the Pacific coast East has not Post changed in some tried to shorten this branch masters of the service, have but their efforts have been balked by inadequate appr pria to The only way see how East the time from the West of to the the Pacific would be double day now run only one mail Ogden, daily The transit time from and francisco here five days, ten hours did Pearson not Postmaster Francisco a plain half how it happened that papers late afternoon are stil of here eight days after their publi First Democratic Gun for the Presidential Canvass. Hall NEW YORK May 23d. occasion o-night on the which the said for the gun Presidential longwas mentioned and Hurd were sent Morrison known views Since the four fifths the of been have in article many Indeed, the among now than higher of the them nearly in the articles than the The vices been the have greatly people while ished entirely of life the and of labor been have and implements and in some instances ob has been commerce policy, duction increase of earnings the cost of DI labor confiscated affi in the ecting industrial of the people and rapid but can be stability by as doing nearly whose are at interests Fretty Hotel Swindler Arrested YORK pretty May hote here Mrs Boyd Lucia the and she She then whom with Bensley, and hom to of father, adopted the gives of istinction Further when the examination begins The John Brown Jury and Scaffold. of the who NEW YORK, May convicted Seven John out Brown in West Virginia age of in this 1859 celebrated are John lately not far from seventy years taken down scaffold has been it was built after the cut up into porch into which relics for sale and carried away in tree General Patterson army which they be 1861, large locust but the where Brown scaffold was hanged, was kept a secret till the close of the Remus Has a Narrow Escape. Uncle 23d Chicago paper NEW YORK, May statentent that J. Remus) having recently printed to be married

12. May 24, 1884 Eureka Daily Sentinel Eureka, NV
Article from Eureka Daily Sentinel, May 24, 1884

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Pennsylvania Bank Affairs. PITTSBURG, May 23.-2:20 P. M.-The Pennsylvania Bank has not yet opened its doors, expects to doso in a few minutes. It was the original intention to resume payment at 1 o'clock, but the details could not be arranged. About 100 persons are on the pavement and steps waiting for the doors to open. The bank has been receiving deposits all day, and a very small run is anticipated. There is no excitement in financial circles. Confidence has been restored. LATER.-The doors were thrown open at 2:30 P. M. The bank was crowded, but there were nearly as many depositing as drawing out. The Affairs of Fisk & Hatch Adjusted. NEW YORK, May 23.-The syndicate that has taken the Government bonds from Fisk & Hatch is composed of I. and S. Wormser, Louis L. Hoyt, J. B. Colgate and the United States Trust Company. It is stated that the syndicate took all the firm had. By this operation the banks and others having loans on the bonds are relieved, and Fisk & Hatch are placed in a position to adjust their affairs. Stevens Hanged. CINCINNATI, May 23.-A Times-Star Waverly, Ohio, special says: L. Stevens, the third man convicted of the murder of Anderson Lackey, near Jackson, Ohio, was hanged here to-day. There was a large crowd in town, though the execution was private. Stevens slept well. He made a confession this morning to a relative of his victim, saying that he had planned the robbery, but not the murder. The hanging took place at 1 o'clock. Railroad Collision. ROCHESTER, N. Y., May 23.-Following are the details of the collision of the St. Louis express with a freight train last night: Seven cars were overturned and 20 persons were injured; none fatally. All were taken to hotels. Prince Yamasicki of Japan was bruised about the side and arms. Eleven members of his suite were bruised. Grant, Jr., Puts in an Appearance. NEW YORK, May 23.-U. S. Grant, Jr., came from Norristown, N. J., his home, this morning, to the office of Grant & Ward. He laughed at the rumor of his supposed flight to Canada. He says he had no intention of leaving. He intends to remain and attend to the business necessarily growing out of his financial imbroglio. Col. Fred Grant is also in the city. Blanchard's Liabilities. RICHMOND, Va., May 23.-The liabilities of Blanchard are $223,000. Among his creditors are Baring Bros. & Co., Boston, $147,000; the Massachusetts National Bank, Boston, $50,000; the State Bank of Richmond, $125,000; T. G. Lurman, Baltimore, $8,400, His failure is due to heavy dealings in futures. Outraged and Murdered. DETROIT, May 23.-The six-year-old daughter of William Dyke, living a mile east of Hilledale, was outraged and murdered last night. Her body was discovered this morning, with her scull crushed in with a stone. Great excitement prevails. Found Dead. WINNIPEG, May 23.-A wealthy Englishman, named Balker Bridge, was found dead in & hotel here to-day, under circumstances indicating & foul murder. Large Export of Gold. MONTREAL, May 23.-It is reported that the bank of Montreal exported eight millions of gold to New York during the recent financial troubles. The Winter Wheat Crop. SPRINGFIELD, Ill., May 23.-The State Agricultural Board estimates that the Winter wheat crop of the State will not exceed 82 per cent of the average yield. Burned to Death. PORTSMOUTH, Ohio, May 23.-John O'Heman, his wife and grown daughter were burned in their house last night. O'Heman lived on a farm four miles away. Approved. WASHINGTON, May 23.-The President has approved the bill granting the loan of & million dollars to the New Orleans Exposition. Will Make a Confession. NEW YORK, May 23.-The Post says it is reported that Ward intends making & confession. Kee # Proposal. NEW YORK, May 23.-James R. Keene proposes to settle with notes, payable in 12 and 18 months.

13. May 27, 1884 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, May 27, 1884

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The Philadelphia Bank Again Closes its Doors. James D. Lish, of the Marine Bank, Arrested. The Horrible Crime of a Crazy Woman. A Budget of General Capital News. What Goeth on in GethamThe Sharons: Closed Again. Pittsburg, Pa, 26 -The Pennsyls vania Bank closed its doore again at 12 o'clock to-day, and posted the following notice on the door: "Mr. Riddle, the president and chief ex. ecutive officer of the bank, having become suddenly and seriously ill and unable to communicate with the board of directors, it is deemed proper to close the bank under existing circumstances until he sufficiently recovers to be present at the adjustment of its affairs. By order or the board." Officers were placed in charge, who refuse to permit an audience with any of the board. There is great excitement. \ News of the second suspension DD spread rapidly. It created intense t excitement and surprise, owing to 5 the fact that everybody had faith in t the bank's ability to pay all claims. b The immediate cause is at present S unknown. Nothing definite can b. learned, as the directors positively 0 refused to be interviewed. Large 1 crowds have been flocking to the B bank, and the pavement in front is a filled with anxious depositors and n persons attracted througo curiosity. b President Riddle appeared in usual T health at 10 this morning, but half a an hour later was prostrated by & hemorrhage of the lungs, and since then has had three repetitions thereof. He is lying at Duquesne Club room: unconscious, with only slight hopes of recovery. Close E friends of Mr. Riddle are unable to to give an explanation of the sudden th turn of affairs. It is said, however, bi that there has been a heavy run on be the bank this morning, principally m by checks, and $250,000 bas been 4 drawn in this way through the pa Clearing House. it The crash was brought about by E the Clearing House throwing out m checks amounting to $265,000. Ac. a cording to the statement of directors el the bank had raised $931,000 to pay ro its liabilities, $918,000. It is said ch there were $300,000 certified check ro which were not included in thiss h and which had to be paid. The, th banks which loaned the suspended gl institution funds to tide them over dr are amply secured. in The cause of Riddle's illness is an W overdose of morphia or chloroform, th taken this morning. Physicians are th endeavoring to relieve him of the la medicine. A

14. May 30, 1884 Eureka Daily Sentinel Eureka, NV
Article from Eureka Daily Sentinel, May 30, 1884

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Rotten to the Core. PITTSBURG, May 29.-Henry Warner, assignee of the Pennsylvania Bank, has taken charge and discharged the clerks. He will begin at once, but it will require two weeks, and possibly 30 days, before & statement of the exact condition of affairs can be made out. The deficits, it is believed, will reach fully $1,250,000. It is still said that $40,000 was known to be on the counter when the bank closed. Only $4,000 was turned over to the assignee. A great shortage is also reported since Saturday, and bonds, stocks and other collaterals in the bank at the time of the suspension are said to be missing. President Riddle is still confined to his home. He has issued a card asking his friends to withhold their judgment until he is able to make & statement.

15. May 30, 1884 Seattle Daily Post-Intelligencer Seattle, WA
Article from Seattle Daily Post-Intelligencer, May 30, 1884

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A great shortage is also reported since Saturday, and bonds, stocks and other collaterals in the bank at the time of the suspension are said to be missing. President Riddle is still confined to his home. He has issued a card asking friends to withhold ju gment autil he is able to make: statement. New Councilman. NEW YORK, May 29.-The The Mayor has accepted the resignation of City Chamberlain Tappan, and appointed Henry B. Laidlaw, agent of the Bank of Cali fornia, in his stead. The resignation was dated May 22d, but was not form ally presented to the Mayor until today. Talk Railroad. The Beard of Directors of the Northern Pacific Railroad Company today authorized the letting of the work of construction for the second section of 25 miles east from Tacoma. Preparation for the Convention. CHICAGO, May 29.-Thus Thus far only few of the delegates to the National a Republican Convention, which will meet here Tuesday, June 3d, have ar rived. A portion of the National subCommittee of Arrangements arrived some days ago, and with Chairman John C. New. of Indianapolis, has since been busy with details. The committee spent the entire day discussing the question of the manner of seating delegates and alternates, without fully reaching a conelusion. The probabili ties are, however, they will be seated in alphabetical order, beginning with Alabama next the platform. New said to an Associated Press reporter this even ing that tickets would all be ready for distribution by Saturday. Stephen B Elkins, of New York, arrived this morning, and will open the Blaine headquar ters at the Grand Pacific Hotel tomor row. Other headquarters are not yet open. Arthur will have headquarters at the Grand Pacific, the Palmer and Leland. Headquarters for the colored delegates from the Southern States will be opened by local colored politicians today. They say it is purely a matter of social courtesy, and has no political significance. The New York delegation will have beadquarters at the Leland. The Colorado delegation will leave Den ver tomorrow night, and be met here Saturday by Senator Chaffee, who rho comes in from New York. The California delegation will arrive Saturday after noon. Preparing for the Fray. CHICAGO, May There was R great or influx of delegates and gentlemen prominent in the Republican party councils this morning. than on any previous day, and hotel lobbies are beginning to assume great activity. No solid delegations have yet arrived, and are not expected before tomorrow. Delegates now on the ground are mainly from the South. A few New York and Pennsylvania delegates have come in advance of the main body. among whom may be mentioned James J. War ren, chairman of the New York State Central Committee, and Speaker Heard, of New York, both of whom are dele gates. Assistant Postmaster General Hatton, Colonel George B. Corkhill, of Washington, and Chas. Emory Smith, of the Philapelphia Press, are also here. The sub-committee of the National Committee is holding continuous ses sions, arranging for seating delegates. and other convention details, so as to be able to report to the full committee next Saturday. No headquarters in the interest of any candidate, with the ex ception of General Logan, has yet been opened, but Arthur and Blaine head quarters will be in readiness tomorrow morning. Delegates Arriving. CHICAGO, May Among the later arrivals of delegates to the National Convention, were the following: W. H. Pleasants, one of the Mahone delegation from Virginia, who comes in advance, to consult with the National Committee on the question whether his delega tion or Dezendorf delegates be ad mitted to seats; Colonel T. A. Shaw, E. T. Consigny and J. S. Clarkson editor of the State Register, of Des Moines, came as an advance guard of the Iowa delegation. The remainder arrives Saturday, and will have their headquarters at the Sherman House. The following State delegations will be quartered at the Palmer House: Florida, Kansas, Georgia, Maryland, Kentucky, Mississippi, Missouri, Nebraska, North Carolina, Rhode Island, Texas, Ver mont, Virginia, California and Wyom ing. There has been considerable talk here and elsewhere during the past few days, about the admission of proxies to the convention, but Secretary Martin, of the National Committee. says there will be no change from the rules that have heretofore governed conventions, and that NO proxies will be admitted. Among those mentioned for chairman of the convention are Senator Cullom, of Il linois; Galusha A. Graw, of Pennsyl vania: Congressman R. G. Horn, of Michigan; Geo. Wm. Curtis, of New York, and Congressman McKinlev, of Ohio. The Blaine headquarters opened at the Grand Pacific Hotel. this evening. It was also announced that the Arthur headquartere would be opened at various pl places in the morning. Hotel lobbies this evening present a rather quiet appearance. Members of the National ib-committee are working with closed doors, alloting the tickets. Whooping Her Up for Arthur. NEW YORK, May 29. -About 60 members of the committee of 100 appointed to attend the Chicago Convention, in accordance with the resolution of the meeting of business men to urge the nomination of President Arthur started for Chicago tonight. Three Pullman palace cars were provided for the delegation. The Cause of the Failure. PITTSBURG, May 29 John P. Bear, oil broker for the Pennsylvania an Bank, made a statement to Receiver Warren this afternoon in regard to the oil speculations which suspended the institution. He admitted he was the representative of a blind pool that was The was last summer. pool operating composed of parties from New York, Philadelphia, Chicago, Pittsburg and other cities. The usual course was to buy heavily when they wanted to ad vance the price, or sell when necessary to have a decline. From another gen tieman it was learned that the pool was conceived by Riddle, and after his friends had approved the plan he went to New York and negotiated a lean of $2,000,000. Oil was raised from 90 to 124%. when the Standard interfered and disputed the efforts of the syndicate. The market collapsed, and the pool was finally compelled to sell at 98, From that time to this losing heavily. the Pennsylvania Bank crowd have been taking desperate chances in the oil mar ket to win back a sum sufficient to plug the hole in the the bank's funds, and have

16. May 30, 1884 The Salt Lake Herald Salt Lake City, UT
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The Bad Bank. Pittsburg, 29.-Henry Wa'ner, assignee of the Pennsylvania bank, has taken charge and discharged the clerks. He will begin at once, but it will require two weeks and pos. sibly thirty days before a statement of the exact condition of affairs can be made. The deficits, it is believed, will reach fully a million and a quarter. It is said that of $40,000 known to have been on the counter when the bank closed, only $4,000 was turned over to the assignee. A great shortage is also reported since Saturday. and bonds, stocks and other collaterals in the bank at the time of the suspension are said to be missing. President Riddle is still confined to his home. He has issued a card asking friends to withhold judgment until he is ab'e to make a statement.

17. May 31, 1884 The Semi-Weekly Miner Butte, MT
Article from The Semi-Weekly Miner, May 31, 1884

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The Pennsylvania Bank, PITTSBURG, May 29.-Henry Warner, assignee of the Pennsylvania bank, has taken charge and discharged the clerks. He will begin at once, but it will require two weeks and possibly thirty days before a statement of the exact condition of affairs can be made. The deficits, it is believed, will reach fully a million and a qnarter. It is said that of forty thousand known to have been on the cour ter when the bank closed, only $4,000 were turned over to the assignee. A great shortage is also reported since Saturday, and bonds, stocks and other collaterals in the bank at the time of the suspension are said to be missing. President Riddle is still confined to his home. He has issued a card asking friends to withhold judgment until he is able to make a statement.

18. June 2, 1884 Sacramento Daily Record-Union Sacramento, CA
Article from Sacramento Daily Record-Union, June 2, 1884

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SATURDAY'S NEWS. [CONDENSED FROM SPECIAL DISPATCHES.] Domestic. The West Side Bank in New York has resumed. The Japanese Prince Yumanchina and suite sailed for Europe Saturday. Harvey D. Parker, proprietor of the Park House, Boston, died Saturday morning, aged 79. The New York banks' statement shows the banks are $1,977,625 below the legal requirements. An attempt was made Friday night at Columbus, Ga., to assassinate Governor James N. Smith. At Batesville, Miss., H. W. Thater, editor of the Blade, killed Julius Porter, a lawyer, in self-defense. The Kinney County, (Tex.) jail was burned Saturday night, and a prisoner perished in the flames. The failures reported for the past seven days in the United States and Canada were 177, a decrease of 55. Slosson defeated Schaeffer in a match game of billiards at Chicago Saturday night; $500 a side, 800 points. Eleven cowboys were drowned and a cattle camp was destroyed by a cloud burst near the Nebraska and Colorado line. President Riddle and Cashier Reiber of the suspended Pennsylvania Bank at Pittsburg, have been arrested on charges of conspiracy to defraud the bank. Members of the Siamese Embassy, after viewing the parade in New York Friday, started at 6 P. M. Saturday for San Francisco. They will stop at various places, including Salt Lake City. D. C. O. Howard, charged with robbing the Bank of Monmouth, Illinois, of $150,000, was arrested at Waukesha, Wisconsin, Saturday, on a telegram from the Monmouth authorities. He confesses his identity, but is reticent regarding the crime. The following notice was posted Saturday morning upon the doors of the banking house of D. W. Middleton & Co., No. 1427 Second street, Washington : "Owing to heavy and immediate demands, we have assigned to George T. Green for the benefit of our creditors." The doors of the bank were not closed, and a number of excited persons soon gathered inside, talking over the suspension.

19. June 3, 1884 The Salt Lake Herald Salt Lake City, UT
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The Broken Bank. Pitteburg, Pa, 2.-President Riddle,of the Pennsylvania bank, makes a long statement of the affairs of the bank, showing the collapse was on account of the directors being concerned in oil speculations. He says the presidency of the bank was forced upon him and that for some time he has been trying to shape its business SO as to prevent a suspension.

20. July 5, 1884 The Semi-Weekly Miner Butte, MT
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More Bank Trouble. PITTSBURG, July 3. - Assignee Warner filed a bill of equity to-day against the directors of the defunct Pennsylvania Bank to compel them to surrender the securities, valued at $451,000, appropriated by the bank when it failed to secure themselves against loss for notes given associated banks at the time the latter loaned tnem money to tide over the first suspension.

21. August 9, 1884 Fort Worth Daily Gazette Fort Worth, TX
Article from Fort Worth Daily Gazette, August 9, 1884

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ASSIGNED. PITTSBURG, PA., Aug. S.-Holmes Lafferty & Co., the oldest and one of the largest firms dealing in live stock in this city, made an individual and firm assignment to I. W. Brainard and Julius Voetta for the benefit of their creditors. Liabilities about $100,000 with assets sufficient to pay dollar for dollar. The failure was caused by complications growing out of the Pennsylvania bank suspension. The firm were heavy depositors in the defunct institution and also had notes out aggregating $50,000 which Assignee Warner of the Pennsylvania bank had notified them he would not pay until it had been decided by the court who were the proper parties to receive the money.