1.
May 2, 1917
Evening Public Ledger
Philadelphia, PA
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SEEKS TO ENJOIN RISK COMPANY; FRAUD CHARGE PITTSBURGH, May 2. Sweeping investigation into the affairs of the Pittsburgh Life and Trust Company was under way here today. Its principal object was to determine the extent of the alleged mishandling of the company's stock and other assets which forced Insurance Commissioner J. Denny O'Neill to make application for appointment of a receiver and also for a temporary injunction to prever: the company from doing business. Commissioner O'Neill said that it was evident the concern had been wrecked. Within two days he said a group of New York promoters got control of the big concern and milked it for $1,900,000 through the operations of a set of dummy directors. In its April 10 statement the company claimed assets of $24,000.000 with insurance in force aggregating $118,000,000. It had strong men at its head and was in excellent financial condition. For several years, however. the company had had a "white elephant" on its hands in the shape of several pieces of valuable New York real estate deeded to it by the old Washington Life and Trust Company. This it wished to dispose of. either by sale or deal. bringing in return stocks and bonds of recognized value. Birdseye and his party. virtually penniless, but with a credit of $200,000 established through New York banking connections. came here with the expressed intention of making a deal on the New York realty. They found smooth sailing and apparently decided that they would prefer to own the company. With a check for $120,000 to bind an opt'on on the entire stock of the concern they gained a control, elected a board of "dummy directors' and. according to the allegations, raided the company. That the concern is now declared to be insolvent indicates that their clean-up ran into millions. officials declare. and the whole operation lasted only a few days. "It was apparently painless and over before the company came out of the ether." declared one insurance man this afternoon. "The worst f it is that their methods of getting the grip leave the company with a single recourse-getting the men and persuading them to make restitution. The policyholders will probably recover little, if anything.'
2.
May 3, 1917
Evening Star
Washington, DC
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INSURANCE MEN FACE ARREST. Pittsburgh Life and Trust Company Taken Over by Authorities. PITTSBURGH, May 3.-J. Denny O'Neil, insurance commissioner of Pennsylvania, yesterday took charge of the Pittsburgh Life and Trust Company. Late Tuesday he applied to the county court for an order prohibit= ing the company from further doing business and asking for the appointment of a receiver. Temporary brders have been granted and Monday was set as the date for the hearing. Mr. O'Neil also went before a magistrate and asked for the arrest of six persons whom he charged with diverting the funds of the company. These names were given as Clarence F. Birdseye, New York; Kellogg Birdseye, treasurer of the company; George Montgomery, Robert R. Moore, president of the Commercial Trust Company of New York: Albery Leury of New York, a director of the company; W. D. McQueston and a Mr. Watson. It was said by the authorities that no arrests had yet been made.
3.
May 5, 1917
New-York Tribune
New York, NY
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Three Indictments Sought Montgomery's story and that of Will iam D. McQuesten, the retired engineer whom the Kelloggs made vice-presiden of the Pittsburgh Life, will be the basis on which the grand jury next week will be asked to return india. ments against at least three persons charging grand larceny in the first der gree. The first formal charge of frau against anybody connected with the case was made yesterday by the N ceiver of the Pittsburgh Life and Trus Company through his counsel, Sullive & Cromwell. It was made in the Ss, preme Court before Justice Erlanges who, on the representation that Class ence F. Birdseye is not a resident New York. issued an attachment on any funds the Commercial Trust Company may have belonging to him. The receiver sued for $1,970.0 charging that the capital stock of company had become impaired and company been rendered insolvent reason of Clarence F. Birdseye have fraudulently and unlawfully abstracte from the assets and funds of the con pany and converted to his own use as the use of other persons" the amount sued for.
4.
May 7, 1917
Evening Star
Washington, DC
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RECEIVER TO HAVE CHARGE. Affairs of Pittsburgh Life and Trust Company to Be Adjusted. PITTSBURGH, May 7. - J. Denny O'Neil, insurance commissioner of Pennsylvania, was today appointed receiver for the Pittsburgh Life and Trust Company, on the petition of Harry Rowans, special counsel named by the Department of Justice to investigate the affairs of the corporation, and who criminally prosecuted all persons connected with the alleged misappropriation of $1,900,000 of the company's funds. Mr. O'Neil was expected to name one of his assistants to have active charge of the work. which is to begin at once. Later in the day Mr. O'Neil went before a magistrate and swore out warrants for the arrest of Clarence F. Birdseye, Kellog Birdseye, George Montgomery, Joseph C. Watson, R. R. Moore, Al Leury and W. D. McQuiston, charging them with conspiracy, and a telegram was sent to the New York police asking them to hold the men. It was explained that the entire question was to be placed before the grand jury this afternoon. and if indictments are found a special messenger will be hurried to Harrisburg to secure the necessary requisition papers. Birdseye and the others named in the conspiracy had agreed. it was stated, to surrender themselves to the Pittsburgh authorities today at 11 o'clock. and when they failed to appear the new charge was made and their arrest ordered in New York.
5.
May 12, 1917
Evening Public Ledger
Philadelphia, PA
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PITTSBURGH LIFE STOCK PAYMENTS REFUNDED Two More Former Directors Return Money Paid by Birdseye, Indicted Promoter PITTSBURGH. May 12. Two more former 'directors who sold their stock in the Pittsburgh Life and Trust Company to Clarence F. Birdseye, the indicted New York promoter. refunded the amounts they received from Birdseye to State Insurance Commissioner O'Neil. receiver for the company. today. W. 1, Berryman sent a check for $32.960. and W. H. Self one for $4240. representing half payment of $80 a share promised on, respectively. 824 and 106 shares of the company. Yesterday W. Howard Nimick. former president of the Pittsburgh Life. returned $24,824 paid him for 621 shares. and W. W. Blackburn $35,200. paid to him for 840 shares./ Commissioner O'Neil accepted the checks as receiver. After a long conference today he announced that preparations are being made for the prosecution of Birdseye and his five New York associates. thirteen former directors of the company, the last of whom surrendered and was released on bond this morning. and others for whom warrants will be issued next week. District Attorney Jackson will leave for Harrisburg tonight and on Monday will present to Governor Brumbaugh papers for the issuing of extradition papers on Governor Whitman, of New York. for the return to Allegheny County of the Birdseye group. Special State Prosecutor Rowand is preparing the prosecutions.
6.
January 20, 1918
Richmond Times-Dispatch
Richmond, VA
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SUE FOR $3,000,000 Pennsylvania Insurance Commissioner Files Sult Against Former Direcfor of Pittsburgh Company. TBy Associated Pressel PITTSBURGH, January 19.-Suit to recover $3,000.000 from the former at rectors of the Pittsburgh Life and Trust Company was filed in court here to-day by Charles A. Ambler. who, as Pennsylvania insurance commissioner, is receiver of the company. In his patition, Mr. Ambler says that the directors responsible for selling the company to Charles F. Birdseye. of New York. should be made responsible to the company for the payment of all losses. Among the defendunts named are two directors who have since died, J. J. Donnell and E. F. Acheson.
7.
January 20, 1918
New-York Tribune
New York, NY
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Pittsburgh Trust Directors Are Sued for $3,000,000 PITTSBURGH, Jan. 19.-Suit to recover $3,000,000 from the former directors of the Pittsburgh Life and Trust Company was filed in court here to-day by Charles A. Ambler, who, as Pennsylvania Insurance Commissioner, is receiver of the company. in nis petition Mr. Ambler says that the directors responsible for selling the company to Clarence F. Birdseye, of New York, should be made responsible to the company for the payment of all losses. Among the defendants named are two directors who have since died, J. J. Donnell and E. F. Acheson.
8.
January 20, 1918
New-York Tribune
New York, NY
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Pittsburgh Trust Directors Are Sued for $3,000,000 PITTSBURGH, Jan. 19.-Suit to recover $3,000,000 from the former directors of the Pittsburgh Life and Trust Company was filed in court here to-day by Charles A. Ambler, who, as Pennsylvania Insurance Commissioner, is receiver of the company. in nis petition Mr. Ambler says that the directors responsible for selling the company to Clarence F. Birdseye, of New York, should be made responsible to the company for the payment of all losses. Among the defendants named are two directors who have since died, J. J. Donnell and E. F. Acheson.
9.
January 21, 1918
The Daily Banner
Cambridge, MD
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Pittsburgh, Pa., Jan. 19.-Suit to recover $3,000,000 from the former directors of the Pittsburgh Life and Trust Company was filed in court here today by Charles A. Ambler, who, as Pennsylvania insurance commissioner, is receiver of the company.
10.
January 21, 1918
Harrisburg Telegraph
Harrisburg, PA
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a long time and plans for consolidation of schools have been postponed because of difficulties and cost of transportation until times are more normal. In some districts the State Highway Department has had to use snowplows daily to keep open state highways, but many county and township highways are almost unbroken. Much damage to fruit trees and vines is reported as due to the zero weather, while poultry has been hard hit.
VISITED CAMP MEADE
William H. Ball, secretary to the Governor, was at Camp Meade yesterday to see his 4son, Captain Whitney Ball, who is in the machine gun arm of the National Army.
LEX MITCHELL BOOMED
A boom for Representative Lex N. Mitchell, of Punxsutawney, Jefferson county, arrived by mail to-day from Altoona. Mr. Mitchell is boosted as an eminent compromise candidate. Comment on the boom was not for publication about the Capitol.
O'NEIL GETS BUSY
Highway Commissioner O'Neil was expected at the Capitol to-day and he will start to arrange for his headquarters. Mr. O'Neil will be here until Wednesday night whe nhe will go to Pittsburgh to attend Thursday's dinner in his honor.
ELK HIDE
The Blair county elk which jumped the state reservation and were ordered shot by the Game Commission for tearing up farms, have disappeared. It is presumed that some one tipped them off and they took to the tall timber, say the game officials.
'HORSES DECLINE
State Agriculture officials say that reports on live stock in Pennsylvania will show a decline the last year because of the heavy demands for Army service. Horses are selling at very high prices these days.
AMBLER SUES
Insurance Commissioner Ambler has brought suit for $3,000,000 against the former directors of the old Pittsburgh Life and Trust Company. The action grows out of the receivership and hits some prominent men.
ARGUMENTS ONLY
The Public Service Commission to-day heard argu-