Pittsburg bank - Pittsburgh, PA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 23, 1915
Location: Pittsburgh, Pennsylvania (40.441, -79.996)

Metadata

Model: gpt-5-mini
Short Digest: 3a6eb341

Response Measures

None

Description

Newspapers dated Dec 23 and Dec 25, 1915 report the 'Pittsburg bank' closed and was placed in hands of a receiver. The bank name appears in articles without the final 'h' (historical spelling); location is Pittsburgh, PA. No article mentions a depositor run prior to suspension; receivership indicates permanent closure. Cause not explicitly stated; insolvency/bank-specific failure implied.

Events (2)

1. December 23, 1915 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank closed its doors and was later placed in the hands of a receiver; articles imply insolvency but do not detail specific cause.
Newspaper Excerpt: Pittsburg bank closes doors.
Source: newspapers

2. December 25, 1915 Receivership

Newspaper Excerpt: placing of the Pittsburg bank in the hands of a receiver where 40,000 children had their accounts is likely to leave a memory... (Norwich Bulletin 1915-12-25).
Source: newspapers

Newspaper Articles (2)

1. December 23, 1915 The Birmingham Age-Herald Birmingham, AL

Article from The Birmingham Age-Herald, December 23, 1915

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Article Text

TODAY'S AGE-HERALD 1 Gary dinner proves real sensation. Prosperity and good cheer hand-inhand. Victory by constitutionalists English papers comment en second American note. 2 -Talks of thrift. 3-Holland letter. 4-Editorial comment. 5--Ad writers' convention tonight. Taking steps to stop crime wave Nothing done about Sunday movies Mrs. E. B. Norton dead. Penny bank suspends. 7-Alaskan pioneers isolated by ice. S Sports. 9-German embassy protested against Armenian outrages, 10-Railroads may carry e'k free. 11-Pittsburg bank closes doors. 18-Markets. 14-Iron trade review.

2. December 25, 1915 Norwich Bulletin Norwich, CT

Article from Norwich Bulletin, December 25, 1915

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Article Text

# SERIOUS BLOWS TO THRIFT. Much interest has been awakened throughout the country in the systems of saving which have been instituted in a large number of schools. It teaches a lesson that is of lasting value through the encouragement of thrift for the formation of such a habit at that time in life is a highly desirable thing. It proves the old saying, "Take care of the pennies and the dollars will take care of themselves" and the idea cannot be too firmly planted in the minds of children. Most unfortunate in connection with this school saving plan is the occasional failure of institutions where such savings are deposited. It does more than anything else to nullify the good effects of the idea and creates an impression of distrust which will be as difficult to overcome as it has been to teach the lesson of systematic saving. Happily the instances are few where banks which solicit such deposits are forced to close their doors, but the placing of the Pittsburg bank in the hands of a receiver where 40,000 children had their accounts is likely to leave a memory which will be hard to efface especially when it is declared that certain depositors were carefully protected in that same institution but the children's account was not. In view of the lesson which this is sure to teach it would appear that if there are any depositors whose interests are more carefully guarded than others, though there should be no disposition to take unwarranted chances with anyone's money, they should be those of the school children who are being taught one of the most valuable lessons in self protection through saving. Otherwise the preaching of thrift is apt to fall on deaf ears.