19411. Pennsylvania Bank (Pittsburgh, PA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
September 12, 1885
Location
Pittsburgh, Pennsylvania (40.441, -79.996)

Metadata

Model
gpt-5-mini
Short Digest
27afd30d

Response Measures

None

Description

Articles (Sept 12-13, 1885) describe the Pennsylvania Bank as defunct and its president William N. Riddle undergoing insolvency proceedings and a voluntary assignment; no mention of a depositor run or reopening. I classify this as a suspension/closure (bank failed and is in insolvency/receiver process).

Events (1)

1. September 12, 1885 Receivership
Newspaper Excerpt
A hearing was had to-day in the petition of William N. Riddle president of the defunct Pennsylvania Bank... Mr. Riddle was interrogated... The court made an order discharging Riddle from any further liability for debt created in the past.
Source
newspapers

Newspaper Articles (2)

Article from New-York Tribune, September 13, 1885

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Article Text

MR. RIDDLE CONFIDENT OF MAKING MONEY. PITTSBURG, Sept. 12 (Special).-A hearing was had to-day in the petition of William N. Riddle president of the defunct Pennsylvania Bank. Mr. Riddle was interrogated as follows: 'When you voluntarily assigned did you assign everything you had?" "I did." " Have you not since that assignment been engaged in money-making transactions?" "I have not." "Did you not assert that while in New-York you made $13,000 in stocks!" "No, sir; but I did say I would make that and more, too." .. Have you not received money since you assigned " Only what I have had given to me and what I have borrowed. When I get my affairs straightened up I shall be $25,000 in debt." The court made an order discharging Riddle from any further liability for debt created in the past.


Article from Eureka Daily Sentinel, September 13, 1885

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Article Text

NEWS. EASTERN A Wreck on the Denver and South Park Road, Colorado. HENRY WARD BEECHER PROFFERS SUGGESTIONS TO NEW YORK REPUBLICANS. The Puritan-Genesta Contest Again Fizzles. Riddie, the Banker and Oil Speculator, Released. CHEAP RAILROAD RATES FOR THE G. A. R. NEXT YEAR. Minister Keiley Resigns His Office. [SPECIAL TO THE SENTINEL.] Another Railroad Wreck in Colorado. DENVER, Col., Sept. 12.-News reached here at an early hour this morning of a wreck on the South Park road, three miles east of Como. The train, which was the Leadville express, was approaching a slight down-grade. The engineer discovered the air brakes would not work. With greatly increased speed the train soon struck & sharp down-grade curve, when the two coaches broke from the engine, jumped the track and piled up in & ditch & complete wreck. All of the ten passengers miraculously escaped serious injury, except & Mrs. Cronkite, of Denver, who sustained a fracture of both her arms, and internal injuries. Beecher Meddling in Politics. ROCHESTER, Sept. 12.-Rev. Henry Ward Beecher sends the following to the PostExpress from Peekskill, N. Y.: "I am decidedly in favor of the insertion of a high license plank in the platform of the Republican State Convention, because an absolute prohibition is an absolute impossibility. High license is feasible and equitable. The moral sense of & community will sustain the demand. The result will be & greater protection of society from the evil of liquor-selling than by any other method that can be enforced." 'off" Again. NEW YORK, Sept. 12.-The contest yes. terday between the Puritan and Genesta was declared off and to be sailed this morning. At 10 o'clock A. M. the weather was cloudy and the wind west, blowing five miles an hour. At 2:05 P. M. the judges' boat was in position for the start, and the American ensign had been run up. The wind was eight miles an hour, and from the south. At 2:55 P. M. the race was declared off. Riddle, the on Speculator. PITTSBURG, Sept. 12.-William N. Riddle, ex-President of the defunct Pennsylvania Bank. was discharged from custody to-day under the insolvent laws. He was subjected to & rigid examination, but the opposition failed to show that he had a single dollar left. Riddle said after his financial affairs were arranged he would be $35,000 in debt, but he had no doubt he would recover his losses. Before the failure of the bank Riddle was supposed to be worth $300,000. Chosen Friends. NEW YORK, Sept. 12.-The fifth annual convention of the Supreme Council of the Order of Chosen Friends adjourned to-day to meet next year at Toronto, Ont., or San Francisco, providing the Grand Council of California will pay the expense of transportation of the delegates from the Missouri river and return. Maxwell's Case, ST. LOUIS, Sept. 12.-Walter H. Lennox Maxwell, the presumed murderer of Preller, was taken into court this afternoon and by an agreement between the counsel the case was continued until the 19th, before which time the Grand Jury will have an apportunity to take the matter up. Cheap Rates. ST. PAUL, Sept. 12.-The General Passenger Agents of the Transcontinental Association held their first meeting this morning. A round-trip rate of $50 was agreed upon from eastern points to San Francisco for the G. A. R. meeting next year. A Heavy Loss by Fire. PEORIA, Ill., Sept. 12.-The large sugar works of the American Glucose Company burned to the ground this morning. The loss is $250,000. Some 90 men were employed in the factory at the time. They barely escaped with their lives. Minister Kelley Resigns. WASHINGTON, Sept. 12.-A. M. Keiley was at the Department of State to-day. He has formally tendered his resignation as Minister to Austria, and the resignation has been accepted. Emory Storrs Dead. CHICAGO, Sept. 12.-Emory A. Storrs, the well-known barrister and political orator, died at Ottawa, Ill., last night of paralysis of the heart. His death was unexpected. Maud S. PROVIDENCE, R. I., Sept. 12.-Mand S covered a mile in 2:10 % at Narragansett Park to-day. The wind stopped her on the homestretch.