19414. Pittsburg Savings Bank (Pittsburgh, PA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 10, 1889
Location
Pittsburgh, Pennsylvania (40.441, -79.996)

Metadata

Model
gpt-5-mini
Short Digest
045673d5

Response Measures

None

Description

Newspaper articles (1889) refer repeatedly to the suspended Pittsburg Savings Bank and city ordinance (June 1889) authorizing the Controller/Treasurer to abate balances in suspended depositories. Later (1889–1890) items discuss dissolution, sale of bank real estate and appointment of a receiver (B. C. Christy). No article describes a depositor run; the bank suspended and went into receivership/was dissolved. OCRed spelling uses 'Pittsburg' (historic usage) — city normalized to Pittsburgh.

Events (2)

1. June 10, 1889 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank had suspended operations and was treated as a defunct/suspended depository; city moved to write off balances and close accounts, indicating insolvency/failure rather than a rumor-triggered run.
Newspaper Excerpt
the Controller to close up certain accounts of delinquent tax collectors and suspended banks ... the suspended Pittsburg Savings Bank
Source
newspapers
2. August 5, 1890 Receivership
Newspaper Excerpt
Second account of B. C. Christy, receiver of the Pittsburg Savings Bank. ... the undersigned has been appointed Master, to make distribution of the funds in the hands of accountant, as shown by said account, and report a schedule of the distribution thereof, ... September 2, 1890, ... MAGNUS PFLAUM, Master.
Source
newspapers

Newspaper Articles (7)

Article from Pittsburg Dispatch, April 23, 1889

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Article Text

ALL CONSUMERS HIT By an Ordinance in Council That May Hamper Farm Hucksters. THE MATTER IS RECOMMITTED. Diamond Street Widening to be Thoroughly Looked Into. THAT MUNICIPAL LIEN BILL AGAIN After Common Council had appropriately referred a large batch of papers, petitions preliminary ordinances for minor improvements yesterday, including the greater one to widen Diamond street from Liberty avenue to Grant street, the Finance Committee reported with an affirmative recommendation an ordinance authorizing the police to arrest on view all persons found to be peddling without license and all persons found driving through the streets without a vehicle license. Mr. McGunnigle opposed consideration of the ordinance in its present form as placing any stranger from outside who might through the city in danger of arrest. It would be great injustice,he thought, to make every farmer, gardener or dairyman from the boroughs or townships outside the city pay city vehicle license. Besides, Mr. McGunnigle said, there was decision from the courts touching upon this question made a few years ago which would be as effective now as then. Mr. Magee defended the ordinance. It was necessary to have such a law in the city to prevent tax dodging. It had been his experience in the past that the man who came up promptly and paid his vehicle tax got the worst of it. This law was to prevent that. If gardener, farmer or dairyman, or an Allegheny man, came into the city with a license from his own bailiwick it would be accepted as a license in this city; otherwise he must take the consequences. This would compel all vehicle owners to pay their dues and be a great sav. ing to all interested. Moreover, he said, it would be nothing more than right to compel the farmers and dairymen to take out a license because they used the streets and bridges of the city and wore them out as much as city residents, and, if man drives out over the country roads and turnpikes, he pays license the shape of toll to drive over badly kept roads. REFERRED BACK. Mr. McGunnigle moved to recommit the ordinance to the Finance Committee for revision, which was agreed to. An ordinance authorizing the Controller to close up certain accounts of delinquent tax collectors and suspended banks, which cannot be collected and which appear upon the books of the city as cash, was reported from the Finance Committee and passed under a suspension of the rules. The ordinance authorizes the Controller to make total abatement of the balances carried in the suspended Pittsburg Savings Bank and the United Savings Bank, the deposits amounting to $28,576 01, from the amount charged against the City Treasurer. The Controller is also authorized to allow deduction of said amount from the debit of the amount of the treasurer's account current and strike off the balance from his own books. He is further authorized to close the accounts with the defunct banks, standing in the name of the following commiss for the improvement of streets under the Penn avenue act: Wylie avenue commissions, $2,950 50; Thirtythird street commissions, $43 89: Forbes street commissions, $336 26; Lincoln avenue commissions, $407 89: Hiland avenue $982 88. The treasurer authorized release from the accounts of defaulted tax collectors the amounts default pertaining to taxes prior to the year 1887 and to accept and mark the saine discharged. All the ordinances that were affirmatively mended by the Public Works Committee last ednesday were handed up in a bunch and referred to the Board of Viewers, excepting that for the extension of allingford street from Neville to Craig streets, those changing the names of Roup street to Negley avenue, Hamet street to Roup street and Landwehr street to Station street, all of which were indefinitely postponed. The following ordinances were passed finally: Authorizing a compromise with Mrs. Mary Ann Snyder for damages caused by the grading of Grand view avenue; granting Armstrong Bros. switch scale privileges on Twenty-fourth street. . The Committee on Surveys reported affirmatively the ordinance authorizing the widening of Diamond street from Grant to Liberty streets, but asked for an opinion on the matter from the City Solicitor before further action is taken. The suggestion was adopted and the ordinance was referred to the Board of Viewers with the request that they thoroughly investigate and report, in the fullest detail, the cost of the proposed improvement, the dam80 days. ages caused and the benefits to pay for it, within President Holliday appointed Messrs. Bigham, Gardner and Maguire as the Common branch of the joint committee to go to Harrisburg to oppose the Newmeyer municipal lein bill. KICKING UP A MUSS. A bill of $1,216 18 from the Philadelphia Company for regulators, service pipe constructions and other attachments used in supplying the city department buildings with natural gas, was offered by Mr. Magee, with a resolution that it be paid. Mr. Magee said, in submitting the bill, that it had been discussed in the Finance Committee, but they could not agree upon its disposition. The Philadelphia Company was under contract to furnish the city with free gas, but the ordinance which made the contract also provided that the city should pay for all pipe connections required in furnishing the supply; consequently he thought the bill should be paid. Mr. Gardner objected to paying the company $25 each for regulators which belonged to the company The deposit required for regulator in dwelling was only $5, and more gas was consumed in a dwelling than in fire engine house. Why the city should pay 80 much more to he failed see. Wm. McGunnigle thought the bill was preposterous. He believed that someone had stumbled across the figures, and thought it might be good way to get $1,200 out of the city the Councilmen would be foolish enough to pay it they could, but he would oppose any such proceeding. The bill dated back to 1884. If was all straight and honest, why had not the bill been presented before? The regulators all over the city were the property of the Philadelphia Company, and why should the city pay for what could not belong to her? streets were badly need of repairs, and he thought if Councils had 81, they had no use for, it could much better be used to the on street Philadelphia repairs than making a present of it Company A vote was taken on the adoption of the resolution, and it was defeated. MORE KICK AND MORE MUSS. Mr. Can asked to call the attention of Councils to bill that is now under consideration in the State Legislature which is designed to effect Pittsburg, providing for the extension of the fire limits to cover the whole city. He thought the bill unjust, and advised Councils to take action toward having it amended or defeated. Mr. Magee and Mr. Culbertson said the bill was good one and should be passed. It placed the erection of buildings ywhere in the city under the care of the Board on Wooden Buildings, and while it would not totally prevent the erection of wooden buildings, would restrict the erection of that class of structures where it would be unsafe and undesirable to have them. Mr. Bigham said the bill would place too much power with the Building Committee, and cause too much delay. Mr. Ferguson opposed the bill in vehement terms. It might be all right, he said, if the power was delegated to a fair and impartial board, but with the wooden building board of this city it would be a great power in a very bad place. When the roll was called on the adoption of the resolution was found a quorum was not present, and Councils adjourned without further action, SELECTMEN DID LITTLE, Except to Wrangle About on Engine House


Article from Pittsburg Dispatch, June 29, 1889

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[No. 4.] N ORDINANCE-AUTHORIZING THE A Controller and Treasurer to close up certain accounts of delinquent tax collectors and suspended banks. Whereas, The fiscal officers of the city are carrying upon their books as assets of the city sundry accounts against defaulted tax collectors and suspended depositories, and, whereas, ail efforts to collect these accounts have failed, therefore, Section 1-Be it ordained and enacted by the city of Pittsburg, in Select and Common Councils assembled, and it 18 hereby ordained and enacted by the authority of the same, That the City Controller and the City Treasurer are hereby authorized and directed to make a total abatement of the balance so carried as in suspended depositories, as follows, to-wit: Pittsburg Savings Bank general fund $26,530 16 United States Savings Bank general fund 2,045 85 $28,576 01 from the amount charged against the Treasurer and the Controller is hereby directed to allow a deduction of said amounts from the debit of the amount of the Treasurer's account current, and to strike off said balance from his own books. Section 2-That the Controller is hereby directed to close the accounts of the said suspended depositories or either of them standing in the name of the following commissions for the improvement of streets under the Penn avenue act to wit: Wylie avenue commission, $2,950 50: Collins avenue commission, $779 71; Thirty-third street commission, $43 89; Lincoln avenue commission, $407 89: Forbes street commission, $336 26; Hiland avenue commission, $982 88, as in like manner as provided in section 1 of this ordinance. Section 3-That the Treasurer is hereby authorized to release from the accounts defaulted tax collectors the amount in default pertaining to taxes prior to the year 1877, and to accept and mark the same discharged by the authority of this ordinance. Section 4-That any ordinance or part of ordinance conflicting with the provisions of this ordinance be and the same is hereby repealed so far as the same affects this ordinance. Ordained and enacted into a law in Councils this 10th day of June, A. D. 1889. H. P. FORD, President of Select Council Attest: GEO. SHEPPARD. Clerk of Select Council. GEO. L. HOLLIDAY, President of Common Council. Attest: GEO. BOOTH, Clerk of Common Council. Mayor's office, June 13, 1889. Approved WM. McCALLIN. Mayor. Attest: ROBT. OSTERMAIER, Assistant Mayor's Clerk. Recorded in Ordinance Book, vol. 7, page 78, 20th day of June, A. D. 1889. je29-50


Article from Pittsburg Dispatch, July 1, 1889

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[No. 4.] N ORDINANCE-AUTHORIZING THE Controller and Treasurer to close up cerA tain accounts of delinquent tax collectors and suspended banks. Whereas, The fiscal officers of the city are carrying upon their books as assets of the city sundry accounts against defaulted tax collectors and suspended depositories, and, whereas, all efforts to collect these accounts have failed, therefore, Section 1-Be it ordained and enacted by the city of Pittsburg, in Select and Common Councils assembled, and it IS hereby ordained and enacted by the authority of the same, That the City Controller and the City Treasurer are hereby authorized and directed to make a total abatement of the balance so carried as in suspended depositories, as follows, to-wit: Pittsburg Savings Bank general fund $26,530 16 United States Savings Bank general fund 2,045 85


Article from Pittsburg Dispatch, July 2, 1889

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OFFICIAL-PITTSBURG. [No. N ORDINANCE-AUTHORIZING THE A Controller and Treasurer to close up certain accounts of delinquent tax collectors and suspended banks, Whereas, The fiscal officers of the city are carrying upon their books as assets of the city sundry accounts against defaulted tax collectors and suspended depositories, and, whereas, all efforts to collect these accounts have failed, therefore, Section 1-Be it ordained and enacted by the city of Pittsburg, in Select and Common Councils assembled, and it IS hereby ordained and enacted by the authority of the same, That the City Controller and the City Treasurer are hereby authorized and directed to make a total abatement of the balance so carried as in suspended depositories, as follows, to-wit: Pittsburg Savings Bank general fund $26,530 16 United States Savings Bank general fund 2,045 $28,576 01 from the amount charged against the Treasurer and the Controller is hereby directed to allow a deduction of said amounts from the debit of the amount of the Treasurer's account current, and to strike off said balance from his own books. Section 2-That the Controller is hereby directed to close the accounts of the said suspended depositories or either of them standing in the name of the following commissions for the improvement of streets under the Penn avenue act to wit: Wylie avenue commission, $2,950 50; Collins avenue commission, $779 71; Thirty-third street commission, $43 89; Lincoln avenue commission, $407 89: Forbes street commission, $336 26; Hiland avenue commission, $982 88, as in like manner as provided in section 1 of this ordinance. Section 3-That the Treasurer is hereby authorized to release from the accounts defaulted tax collectors the amount in default pertaining to taxes prior to the year 1877, and to accept and mark the same discharged by the authority of this ordinance. Section 4-That any ordinance or part of ordinance conflicting with the provisions of this ordinance be and the same is hereby repealed 80 far as the same affects this ordinance. Ordained and enacted into a law in Councils this 10th day of June, A. D. 1889. H. P. FORD, President of Select Council Attest: GEO. SHEPPARD. Clerk of Select Council. GEO. L. HOLLIDAY, President of Common Council. Attest: GEO. BOOTH, Clerk of Common Council. Mayor's office, June 13, 1889. Approved WM. McCALLIN. Mayor, Attest: ROBT. OSTERMAIER, Assistant Mayor's Clerk. Recorded in Ordinance Book, vol. 7, page 78, 20th day of June, A. D. 1889. je29-50


Article from Pittsburg Dispatch, November 13, 1889

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CLOSED ITS SESSION. The Supreme Court Winds Up Its Present Term-Several Decisions of General Interest. After a session lasting nearly five weeks the Pennsylvania Supreme Bench closed its sitting yesterday in this city by handing down four decisions and ordering a re-argument. In the case of Samuel G. De Turk against the Commonwealth, error from Common Pleas, Schuylkill county, Justice McCollum handed down the decision. De Turk was postmaster of De Turksville, and on November 8, 1887. was elected County Commissioner of Schuylkill county, serving in both capacities. On October 24, 1888, at the suggestion of the District Attorney, a quo warranto was issued on De Turk to show cause why he should not be removed from the office of the County Commissioner. An act of Congress prohibited any person from holding a position of trust under the Government and at the same time a salaried office under the State. De Turk resigned the postmastership on November 13, 1888, but on January 14, 1889, a judgment of ouster was entered, thus dispossessing him of the County Commissionership. De Turk appealed. and Justice McCollum decided the case in his favor. The opinion held that the act of Congress could be enforced without legislative aid. The lower court was therefore reversed. Justice Clark handed down an opinion in the case of John Willis' appeal from Common Pleas of Washington county, in his suit against the Manufacturers' Natural Gas Company. The suit was on a covevant contained in the lease of gas and oil rights to the gas company. Willis claimed a forfeit of $1,000 per year under the contract for the company's not boring wells within the specified time. The company resisted the claim on the grounds of another clause in the lease which said that if they did not comply with the terms the agreement was to be null and void. This would therefore annul forfeits and everything else, they said, as they had not complied with the terms. Justice Clark, in his opinion, said that this clause was inserted solely for the lessor's benefit, and it was optional with him to maintain it or annul it, as suited him. The lower court was reversed and the record remitted for the entering of judgment against the gas company. In the case of Alfred Palmer and William H. Force, Jr., and wife against H. Farrell and wife, an action in ejectment, appealed on an error to Common Pleas No. 3, of Philadelphia, the judgment of & nonsuit was reversed, and a trial ordered. In the case of Henry Hessel against M. T. Johnston, an action in a lease, appealed on an error to Common Pleas No. 4, of Philadelphia, judgment was reversed, and a new trial ordered. Re-arguments were ordered in the cases regarding Ruan street and Washington avenue, Philadelphia, the court desiring to have before the whole of the street act of 1887. The cases where ordered to be placed at the head of the Philadelphia list. Argument was made in the appeal of Edward Bindley from the decree of Common Pleas No. 2 of Allegheny county. Bindley had a claim against the Pittsburg Savings Bank which was disallowed by a master and adopted by the lower court, the amount involved being $1,000. An argument was also heard in the case of George W. Guthrie, trustee, in re J. T. Stockdale, trustee for Michael Maginn, on appeal from Common Pleas No. 2, Allegheny county. The case is the acceptance of the report of an auditor distributing the fund of the Pittsburg Savings Bank. The bill prays for a dissolution of the incorporated joint stock company known as the Pittsburg Savings Bank, the appointment of a receiver, and an account between shareholders. Nearly analogous is the appeal of George W. Guthrie from Common Pleas No. 2 of Allegueny county, also argued. The appeal is against the distribution among some of the creditors of the money belonging to the bank. The fund in dispute is $11,295 30, raised by a sale of a portion of the real estate of the bank held at the time of suspension.


Article from Pittsburg Dispatch, August 5, 1890

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LEGAL NOTICEs. MAGNUS PFLAUM. Attorney. IN THE COURT OF COMMON PLEAS No. 2 of Allegheny county, No. 150 January term, 1880. in equity. J. T. Stockdale, trustee. etc., vs, Michael Maginn and others. Second account of B. C. Christy, receiver of the Pittsburg Savings Bank. Notice is hereby given that che undersigned has been appointed Master, "to make distribution of the funds in the hands of accountant, as shown by said account, and report a schedule of the distribution thereof," and that he will meet all parties interested at his office. Room 62 Bakewell building, corner Grant and Diamond streets. Pittsourg. Pa.. on TUESDAY, September 2, 1890, at 2 o'clock P. M., for the purpose of his said appointment. MAGNUS PFLAUM. Master. jy29-49-Tu


Article from Pittsburg Dispatch, August 12, 1890

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LEGAL NOTICES. MAGNUS PFLAUM. Attorney. IN THE COURT OF COMMON PLEAS No. 2 of Allegheny county, No. 150 January term, 1880. in equity. J. T. Stockdale, trustee. etc., vs, Michael Maginn and others. Second account of B. C. Christv, receiver of the Pittsburg Savings Bank. Notice is hereby given that the undersigned has been appointed Master, "to make distribution of the funds in the hands of accountant, as shown by said account, and report a schedule of the distribution thereof," and that he will meet all parties interested at his office, Room 62 Bakewell-building, corner Grant and Diamond streets. Pittsburg, Pa., on TUESDAY, September 2, 1890, at 2 o'clock P. M., for the purpose of his said appointment. MAGNUS PFLAUM. Master. jy29-49-Tu