d84ec997Accommodated withdrawals, Borrowed from banks or large institutions, Full suspension, Books examined
Other: Directors later found large overdrafts and appointed committee to investigate; assignee later filed suit indicating permanent failure.
Click image to open full size in new tab
ANOTHER BANK CLOSED. PITTSBURG, Pa., May 21.-The Pennsylvania Bank, of this city, has closed its doors and posted the following: "Owing to a continued 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, and a large crowd surrounds the bank. Officers have been placed at the doors.
Click image to open full size in new tab
a 11 GENERAL. The Pennsylvania Bank, of Pittsburg, Closes Its Doors. President Endicatt Resigns-Failures in New York. The Industrial Exposition in Session at Chicago. Tobacco Factory and Paper Mill Burned. J. B. Eustis to Succeed Jonas, of Louislans, in the Senate. Freight and Mixed Trains Collide OH the Panhandle. President Baldwin Vindicates Himself. Another Suspension PITTSBURG. Ma 21.-The Pennsylvania bank of this city closed its doors at 12:30 this afternoon, and posted the following ou the doors: Owing to the 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 wawd surrounded the bank. Police officare been placed at the doors. William 21 Riddle, president of the bank, which was dolum the largest business of any bank in Pittsburg, be+ up from his sick bed this morning, having Debi. prostrated from a hemorrhage, and is now at the bank. The following statement was give. a representative of the Associated Prese have nothing to say in detail now, but I am here to Ince the music and do my duty. Owiag to unfounded reports made current by interested at 1 malicious DERsons, there has been a run on us for several days, and our deposits have been decreased from $800,000 to $700,000 in five days. We, therefore, deem it wise to take action as we have done. Further, I have nothing to say, except that I am individually the largest ;loser, naving the largest deposit and the largest amount of stock in the bank.' It is said that rumors set afloat by interested parties are that the Pennsylvania bank and two other banks have been allowing oil brokers to overdraw their accounts and the result was a run on the bank. One of the stockholders of the Pennsylvania bank says the suspended institution is entirely solvent, and will pay every dollar of its debt. or on deposit. Capital stock, $200,000. A full statement is promised this evening. The Pennsylvania bank was yesterday assisted in meeting its obligations at the clearing-house by a loan of $100,000 made by the Farmers Deposit National bank, through which it cleared. It was hoped matters would be in better shape to-day and that the bank would be able to meet its paper when presented. The result was R disappointment, and checks on the Pennsylvania bank were returned by the Farmers bank. As to the aggregate amount of checks thus returned, officials of the Farmers bank refused to make a statement, but as the aggregate exchanges at the clearing-house was a little below those of yesterday, the total could not have been nearly as large 28 usual in ordinary times William E. Schmartz, president of the Third National bank, says he had seen the balance sheets of the Pennsylvania bank and thought they would be able to pay all debts, and that it was solvent. The other banks be regarded strong enough to stand the crisis. They would stand by each e other as they did in New York. Mr. Schmartz reflects the views of a large number of the most prominent bankers in regard to the solvency of the suspended institution.
Click image to open full size in new tab
THIS MORNING'S NEWS. In New York yesterday Government bonds were quoted at 1203/2 for 4s of 1907, 112½ for 41/28 ; sterling, $4 85@4 87; 99 for 3s, 100 for 5s; silver bars, 111. Silver in Lendon, 50 15-16d consols, 1013/4d 5 per cent. United States bonds, extended, 105; 4s, 123: 4½, 113½ In San Francisco Mexican dollars are quoted at 89@89½ cents. Mining stocks were weak in San Francisco yesterday morning. Compared with the sales Tuesday, there was a decline of 5c. to 25c. in nearly all of the Comstock descriptions. California dropped from 20c. to 10c. There was a spurt in Bodie, raising the price to $3 45 from $2 95. The New Hampshire Democratic State Convention met in Concord yesterday. A Convention of Protectionists assembled yesterday in Chicago. The Pennsylvania Bank, of Pittsburg, closed its doors yesterday. The widow of Commander De Long is to be granted a pension of $50 a month. Dr. Singleton B. Hubbell killed himself Monday at Medford, Wis. The statue of Martin Luther was unveiled in Washington yesterday. Congress will probably adjourn by July 15th. A three-round prize fight took place in Rochester, N. Y., yesterday, and both participants were arrested. In a railroad collision yesterday, forty miles from Pittsburg, one man was killed and five others injured. A suspension bridge fell at Portsmouth. Ohio, yesterday, causing the death of three children. Mexican cavalry are scouring the country in search of train-wreckers. Fire at Seattle, W. T.: loss, $5,000. In Lincoln county, Nevada, Saturday, Jack Longstreet shot and killed Alexander Dry. A National Convention of brewers is in session at Rochester, N.Y. A half-breed Indian is to be hanged at Victoria, B. C., on the 31st inst., for murder. Lieutenant-General Sir John Miller Adye, K. C. B., will command the expedition to Khartoum. The expedition for the relief of Berber in autumn will be commanded by General Wolseley. The Grand Lodge, A. O. U. W., for Utah, Wyoming, Nevada, Idaho and Montana, is in session at Salt Lake. Continued damage is reported from floods in southern Utah. Antelope Island, in Great Salt Lake, Utah, is to be converted into a health and pleasure resort. General Grant has mortgaged his Washington and Philadelphia residences in favor of W. H. Vanderbilt. The 500th anniversary of the death of John Wycliffe is being celebrated in London. The English House of Commons yesterday rejected the bill amending the Irish Laborers' Act of 1883. The anniversaries of the various Missionary Societies of the Baptist denomination began in Detroit yesterday. The famous old war horse of General Custer died at Vincennes, Ind., yesterday. A serious conflagration occurred last night at Kief, Russia. France has doubled the duty on cattle and sheep. A cyclone in Akyab, British Burmah, has caused immense damage.
Click image to open full size in new tab
Coal YORK, May 23.-Another break NEW whares occurred this morning from 59 to 52, a 97 to91 Lack from to 101% Reading swanns orthwestern W heavy and from broke to 93. The m arket was weak insympathy. The Pennsylvania Bank PITTSBURG, May 23.-The PennsylBank has not vet opened its doors. valia but expects to d) 80 in a few minutes. It the origin il in ention to re-ame payment at o'elock, but the derails could not be arranged. About 100 persons are on the pavement and writing for the doors to open st*ps The bank has been receiving deposits all day and ry small ran 14 antici pated. There is no eitement in finan civil eircles. as confidence has been re stored. The d ors were thrown open at 2:30 m and the bank crowded. but nearly p. as many dep siting as driw ng out. An Ohio Hanging. WAVERLY (Ohi 0, May 23 Laban Stevens, the thir man convicted of th now Lickey, murder of Anderson today here banged Jackson, Ohio. W48 the but town, A large crowd Stevens Sept execution W morn well and Biying ing to bu to th The took Langing N Grant J home five of Grant & " the rumor of his Canad and AIVA be He in of lewing DAS the attend busi wind the Fred Grantis B. The liabili $223.000 A non Lies aring Bros. & Co., of the cred 00: the Massachusettak, of Boston. $50,000; the ak, of Richmond $12,500; I' a man, of Baltimore, $8.400. The TA IS due to heavy dealings in fu ares. Wife Murderer Hanged. LITTLE VAILEY N.Y. M 1y 23.-Chas B. Charle was ha aged for the murder of bis wife. 82 Per Cent. SPRINGFIELD III., Mav The State Agricultural Bo and estim item that the winter wheat crop of the State will not exceed 82 per cent of an average yield. On Wall Street. NEW YORK. May 23-Governments higher; railways work and shares heavy and depres-ed. Corl stocks in early trading weremarked by the lowest price for years. Jersey Centr br ike 7 percent to 52, Delaware and Hudson 6 to 91. Lackawanna 2½ to 1.101/4 and Reading 1½ to 24% Near the closethe bears singled out Northern Pacide shares and they broke, exemon from 2016 to 19½, and preferred from 46½ to 43½ Chicago, Burlington and Quia tonched 111 against 1151/2 during the morning. Some shares Were compar atively firm at the close, but the market was AS a rule weak. Compared with last night. closing prices are 7 per cent lower for Lackawanna, 4½ for North Western. 5% for Delaware and Hudson 2% for Northern Pacific preferred. 1% for N W York Central. 11/2 for St. Paul. preferred. and 1/2 to 1 per cent. for other active shares, except Central PAcific, which is 1/2 higher,at 41½, and Pa eific Mail at 34 @ 36½. Presbyterians In Council. PITTSBURG. May 23.-At the opening of the fternoon session n memorial from the Fifth Reform Church of Pailadelphis caused some excitement. It WAS protest against the action of the Presbytery in a matter concerning that shurch and an appeal against the Pres bytery's decision. The papers were claimed to be irregular, but were finally accepted and referred to the Committee on Discipline. Rev. J. L Scroot read H memorial of the General Synod concern ing the National Conventions to meet in 1831 to nominate President. The conventions were ent eated to consider that "an absolute sovereign has commanded the peo In to choose good men, such as fear the Lord nd hate covetousness.' Louisville Races. LOUISVILLE, May 23 Club purse, mai en year olds, five-eighths of one mile: won by Vallisia, Rapid in second Princess Ban third. True, 1.02. Parse race, mile heats; W - by Chili in straight heats. exption see nd in each heat. and Major Hughes third. Time, 1.46 Rio for merchints' stakes, all ages: Freeland (favorite won by length. Knight 1.57 second, John Davis third. Time Tennessee stake, 2 vear olds, three. quarters of a mile: R Istons won and ly by a length. K wkat second, Rooks third. Tim-, 1.17 Traffl Suspended. GALVESTON, 1'-248 May 23 ailrea traffic throug on the d oded district of the State is still gener ally suspended. There have been no made from the north for two days. No accurate esti male of the d migo to the various railroad lines has yet been obtai pd. but a well informed gentlem in of this city places the unize railroad property high as two millions. The Money Market. NEW YORK. May 23 M mey 114@2 per cent; prime mercantile P per. 4@ % -terling exchange. demand. 4844 @185. Dry goods imports for the week $137,100. Stocks and Bonds NEW York. May 23. - U. S. Three's 1003/8 43/2's, 1236; 4's, 2016: Preific 95% 24: American Express 90, Canada Pacific 46. Canada Southern 46% Centrai Pacific 41. Chicago, Burnugton & Quincy 11, Lockawanna 71% Den. Ver & Rio Grande 10½. Erie 14½, HanBited 1 St. Joe 8836. Kansas and Texas 1436 Lake Shore 83%, Louisville and Nashville 31% Michigan Central 69 Northern Pacific 19½ Northern Pae fie pretern d 46% Northwestern 96%, New York Central 9111 Oregon Railway and Navigation 75. Oregon Transcontinentalley Oregon Improvement Pacific Mail 36. Rock Island 12. St. Paul6714 Texas Pacific 11% Union Pacific 17%. United States Express 50, Wells Fargo 95, Western Union 52%. Panama 98 Petroleum steady at 73%. Watching John c. Ene. New YORK, May 28.--Half a dozen detectives and deputy officers watched the house of John C. Eno tonight. The servants admitted only intimate friends. Eno is in bed sick. Meeting at Tammany Hall. NEW YORK. May 23.-Tammany Hall In, Was crowded tonight, the occasion be
Click image to open full size in new tab
THIS MORNING'S NEWS. In New York yesterday Government bonds were quoted at 120 for 4s of 1907, 113½ for 41/28 ; sterling, $4 85@4 87 ; 100 for 3s, 100 for 5s ; silver bars, 111. Silver in Lendon, 50 15-16d consols, 101 5-16d ; 5 per cent. United States bonds, extended, 105; 4s, 123: 41/28, 113½. In San Francisco Mexican dollars are quoted at 89@89½ cents. Mining stocks were quiet in San Francisco yesterday, and the changes in value unimportant. U.S. Grant, Jr., was in New York yesterday as usual, not having gone to Canada, as reported. A six-year-old girl was outraged and murdered near Hillsdale, Mich., Thursday night. Charles B. Clarke, a wife-murderer. was hanged yesterday at Little Valley, N. Y. The winter wheat crop will be short in Illinois this season. Burglars took $38,000 from the vault of the City Hall, in East St. Louis, Thursday night. During the past week 212 business failures OCcurred in the United States. In a railroad accident near Rochester, N. Y., Thursday night, the Japanese Prince and suite were among the passengers injured. The Pennsylvania Bank, at Pittsburg, reopened its doors yesterday. Laban Stevens was executed yesterday at Waverly, O., for the murder of Anderson Lackey. During the recent financial flurry in New York, Montreal exported $8,000,000 in gold to that city. The dissatisfaction in Manitoba among the settlers continues. No news has been received in London from General Gordon since April 10th. Lord St. Leonards, tried in London for indecently assaulting a servant girl, has been convicted. Ten train-wreekers have recently been shot in Mexico. The body of Mrs. Jacob Clements was found in the Hudson river at Albany Thursday, the lady having committed suicide. Nathan Boynton, aged 18, was drowned Thursday near Locester, W. T. The running time of mail trains between New York and the City of Mexico is six days and twenty-three hours; distance, 3,749 miles. The execution of Lloyd L. Majors, the Los Gatos murderer, took place in Oakland yesterday. The United-States Senate adjourned yesterday until Monday. Ex-Minister Sargent writes that he will return to America in the latter part of June. The House of Representatives last evening passed 46 pension bills, including one granting $50 per month to the widow of General Ord. Fire destroyed residences yesterday in Corvallis and Philomah, Or., and Goldendale, W. T. F. M. Wadsworth was accidentally shot and dangerously wounded yesterday in Benton county, Or., by his brother. Governor Louis Torres, of Sonora, fought a duel at the City of Mexico with Senor Benassa, and was wounded in the hands. Floods have caused great damage in the southeastern part of Spain. Prince William of Prussia was warmly received in Moscow yesterday. The floods in Texas have caused damage to railroad property alone to the amount of $2,000,1 000. 1 The paying teller of a New York bank has embezzled $96,000 of the bank's funds and decamped. I A Democratic mass meeting was held in Tamas many Hall, New York, last night, Congressmen Blackburn and Hurd being the principal speakers. t Lightning caused a disastrous oil fire in Philadelphia last night. 1 By the sinking of a French brig on the New . Brunswick coast, 53 passengers and the crew of nine lost their lives. -
Click image to open full size in new tab
The Pennsylvania Bank Resumes, PITTSBURG, May 23.-The Pennsylvania bank threw its doors open at half past 2 o'clock. The bank was crowded, but there were nearly as many depositing as drawing out. The doors of the bank were kept open until 5 p. m. in order to gratify all demands. Long before that hour the run had ceased and it is expected when they open to-morrow the scare will be over and business proceed the same as before suspension. Deposits to-day are said to be $50,000 in excess of the amount withdrawa.
Click image to open full size in new tab
in le IN GENERAL 111 or d The Pennsylvania Bank Again Closese Its President Sick. A The National Bank Inspector Has Ex. e President Fish Arrested. e n b Ker Testill IS in the Star Route Casesy Letting Dorsey Oat. The Strike of the Spinners at F River Ended. Miscellaneous News Notes by Wire. The Pennsylvania "Busts Again." PITTSBURG, May 26.-The Pennsylvania bank closed doors again at 12 o'clock today and pasted the following notice on the door: dr. Riddel, the president and chief executive officer of the bank. having become suddenly and seriously ill and unable to commenicate with the board of directors. it is deemed proper to close the bank under the existing circumstances until be sufficiently recovers to be present at the adjustment of its effairs. By ord of the board." Officers placed in charge refuse to permit audience with anybody. There is great excitement. President Riddle appeared in usual health at 10 o'clock this morning, but half an hour later be was pros ted by hemorrhage of the lunge. Since hen he has had three repetitions thereof. He is lying at the DeQuesne club rooms unconscious, with only a slight hope of recovery Close friends of Mr. Riddle are unable to give an explanation of the sudden turn of affairs. It is said. however, that there had been a heavy run on the bank this morning. According to the statement of the directors the bank had raised $931.000 to pay liabilities. PITTEBURG, May 26.-The cause of Riddell's illness is an overdose of morphis or chloroform, taken this morning. When it was discovered that President Riddle had taken a narcotic. great excite. ment prevailed, and the Duquesne club building, where be had been taken. was besieged by anxious inquiries after his condition. For a 10 g time physiciana were unable to tell whether he had taken mr phine or chloroform. A stomach pump was used and the pstient recovered con+ciousness It was learned that he had been attacked with a severe pain in beside this morning, and while suffering intens ly had taken an overdose of chloroform. The physicians are of the opinion that be will be able to attend to business in a few dave, when it is expected he will make a full statement of the condition of the affaire of the bank. The directors have been in session since the doors closed, but refu e to say anything concerning the suspension. Today all sorts of rumors are afloat but none One is a renewal of the are report authenticated. that the bank had lost in oil speculations. Another is, that there has been be VV defalcations, and that to certain the doors depositors were opened withdraw their to depos- dumb- allow its. The bank officials generally are founded by the turn affairs have taken, and to be entirely ignorant of the cause was of profess suspension. The impression ample funds given out that there were o meet all demands and continue busiDESS. The feeling to-tight is that when affairs are investigated there will be no alternate but for the bank to go into light dation.
Click image to open full size in new tab
DAILY RECORD-UNION TUESDAY MAY 27, 1884 THIS MORNING'S NEWS. In New York yesterday Government bonds were quoted at 1203/4 for 4s of 1907, 113 for 41/28 sterling, $1 85@4 87 1003/4 for 3s; silver bars, 110½ Silver in London, 50 15-16d consols, 101 7-16d 5 per cent. United States bonds, extended, 105; 4s, 123: 41/28, 113½ In San Francisco Mexican dollars are quoted at 89@89½ cents. Mining stocks opened weak in San Francisco yesterday morning, with a light demand all round. On the second call Alta, Bodie and Gould & Curry were a trifle higher than on the first call, but in most other cases the opening prices on the first call were not sustained. The whole market has a decidedly soggy appearance. An English nobleman has married a ballet girl. Strong's bank at Green Bay, Wis., suspended yesterday. The Pennsylvania Bank, of Pittsburg, closed its doors again yesterday, causing much excitement. George Koste was thrown from a wagon in San Jose Sunday, and killed. A sixteen-year-old boy was captured at San Juan, San Benito county, early yesterday morning, while attempting to burglarize the postoffice. A little steamer ran the Cascades of the upper Columbia river-six miles-in eléven minutes, Sunday. Two successful burglaries occurred Saturday and Sunday night in Fresno. The general State election takes place in Oregon next Monday. Charles Fairchild, 65 years old, has been held to answer at Orland, Colusa county, on a charge of indecent assault upon an eight-year-old girl. Miss Hickox, of California, is among the graduates of the New York Conservatory of Music. Fire at Reading, Mass.: loss, $200,000. Disorder is threatened in New Iberia, La., over a contested Judgeship. The ten-mile bicycle race in Washington yesterday was won by J. S. Prince, in 32 minutes and 46 seconds. Michael J. Hull dropped dead in the California Market, San Francisco, yesterday. The Boston Herald has been sued for libel by a Catholic priest, the damages being laid at $100,000. Italy supports France in her demands for the international control of Egypt. A negro in Georgia claims to be the Messiah, and the colored people of that region believe in his pretensions. In Belleplaine, la., yesterday, Samuel Dunlap shot his wife three times, and then cut his own throat. Moody and Sankey will leave England for America July 5th. The American lacrosse team won another game in England yesterday, defeating the Yorkshire team. The Cheyenne Indians in Montana threaten to take the warpath, causing great alarm. The Presbyterian General Assembly adjourned at Saratoga yesterday, to meet in Cincinnati next May. John Lowell. son of ex-Judge Lowell, of the New York Supreme Court, killed himself in Buffalo yesterday. Miss A. Hazard, reparted missing from Cincinnati, has been found drowned in the Hudson river at Hastings, N. Y. Mrs. N. Noffsinger accidentally shot and dangerously wounded herself in Douglass county, Oregon, Sunday. In New York yesterday John Carpenter stabbed his wife to death, fatally wounded her sister, and tried to commit suicide. One hundred and fifty people were injured at Chatham, Ont., yesterday, by the collapse of a building. A boy and two girls were drowned at Galt, Canada, yesterday, while boating.
Click image to open full size in new tab
GENERAL KAUFMAN, KOHN & Co., St. Louis, Mo., failed on the 22d. Liabilities, $75,000; assets $40,000. SHRINKAGE in values caused the failure of J. L. Brownell & Co., New York, on the 21st. PRESIDENT ENDICOTT, of the Oregon Transcontinental Company, resigned, on the 21st, and Elijah Smith was elected to succeed him. A STATUE of Martin Luther was formally unveiled at Washington, on the 21st inst. THE Pennyslvania Bank, of Pittsburg, closed its doors against frightened depositors, on the 21st, after standing a run for several days. THE Glendower Iron Works, Danville, Pa., could not pay its workmen and was compelled to shut down, on the 21st inst. THE National Association of Brewers began their session at Rochester, N. Y., on the 21st. THE guarantors of the Cincinnati dramatic festival were called upon to make up a deficiency of $42,700. The receipts were only $10,700. The Milwaukees continue in the lead for the championship of the Northwestern League with ten games won and only one lost. Their trip has been quite satisfactory so far, and the Milwaukees have won hosts of friends. Peoria, Quincy. Bay City and Grand Rapids are stringing along at each other's beels for second place, Minneapolis his third, Saginaw has been set back to fourth, and the other clubs have no position as yet in the race. The clubs now occury the following positions:
Click image to open full size in new tab
PITTSBURG, May 26,-The Pennsylvania bank closed its doors again at 12 o'clock to-day and posted the following notice on its door: Mr. Redley, the President and chief executive 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 an adjustment of affairs. By order of the board. The officers placed in charge refused to permit an audience with any of the board. There is great excitement. The news of the second assignment spread rapidly and created intense excitement and surprise, owing to the fact that everybody had faith in the bank's ability to pay the claims against it. The immediate cause is at present unknown, and nothing definite can be learned, as the directors positively refuse to be interviewed. Large crowds have been flocking to the bank, and the pavement in front is filled with anxious depositors and persons attracted. through curiosity. President Riddle appeared in his usual health this morning, but a half hour later was prostrated by hemorrhage of the lungs, and since taken has had three repetitions thereof. He is lying at the Duquesne club rooms unconscious, with only slight hopes of recovery. Close friends of Mr. Riddle are unable to give any explanation of the sudden turn of affairs. It is said, however, that there has been a heavy run on the bank this morning, principally by checks, and that $260,000 have been drawn out this way. The crash was brought about by the clearing house throwing out checks amounting to $265,000. According to statement the directors of the bank had raised $931,000 to pay liabilities of $918,000, but it is said there were $300,000 certified checks, which were not included in this, and which had to be paid, which left the suspended institution no funds to tide them over.
Click image to open full size in new tab
The Pennsylvania Bank. Pittsburg, 27.-Affairs of the Pennsylvania bank continue to be the engro sing subject among all classes, but up to now there is as little definitely known as at the time of closing yesterday. President Riddle slept fairly last night, and this morning was sufficiently recovered as to enable friends to remove him to the residence of D. A. Stewart, in the east end. Two well known and experience bankers made a careful examination of the books last night. Every opportunity was given them to make a superficial examination. According to their statement the books show $300,000 drawn out from the time of resumpti n on Friday until the close yesterday, with deposits decr ased correspondingly. The statement that 300 certifled checks were not included in the statement made to the associated banks was incorrect, no such checks existing. In their opinion, if the books are correct the bank ought to pay every cent of its debts. There is less talk of crookednes, and the impression is growing that the second suspension was due wholly to timidity and de. moralization when President Riddle was suddenly prostrated. The directors have not made a statement, but there is a general demand for something authoritative from them of the banks actual condition. The general condition of other banks is unchanged. The directors of the defunct bank, this morning, took possession of individual book accounts of the concern, and up to 1 o'clock had struck some developments which promise to show why the second collapse came 80 suddenly. There is among the accounts one of the firm of D. Wilson Co., which shows overchecking to the extent of $40 000. No such firm is known in this city, and such person represents the accounts of a number of persons lately operating on the wrong side of the oil market and who has been allowed to draw to the extent named. Directors who furnished the information state further that the account of a prominent oil dealer j8 overdrawn $97,000. These two accounts, and an overdraft of $337,000 are in excess of the entire capital and surplus of the bank. Directors have appointed a committee to employ experts and go over the books and report as speedily as possible.
Click image to open full size in new tab
NEWS SUMMARY. MISCELLANEOUS. Excitement is high in Custer, D.T., over the discoveries of tin The net profits of the Western Union for 1883 were $6,642,513. The Mackey-Bennett cable has been landed at Lockport, Mass. Tully H. Smith, a well known contractor, of Milwaukee, is missing. A Japanese Prince and his party have left San Francisco for Chicago. The next meeting of the Hibernians will be helda St. Paul, two years hence. Thirteen thousand head of cattle were sold at Dallas in one bunch for $35,000. Commissioner Fink expresses the opinion that railroad freights continue very low. The Merchants' Exchange, of St. Louis, bars bucket-shops from using its quotations. Donnell, Lawson & Simpson's assignee says their assets will exceed their liabilities $1,000,000. Moddelling in clay is now taught in the Polytechnic school at St. Louis, to a class of sixteen. John Rutter, of Bloomington, reports the loss of four Jersey cattle from eating "Rough on Rats." Extensions to be made within forty days will give St. Paul six lines of street railway with tifty-two miles of track. The Presbyterian organizations of the country are enriched $22,000 by the will of Joseph Dudley, of New York. An increase in net earnings of the Kansas City, Fort Scott & Guff Railroad for 1883, of 11.64 per cent. is reported. The receiver of Grant & Ward has been authorized to compromise claims by the surrender of bonds at par value. Window glass manufacturers held a convention at Pittsburg recently, reporting that the demand was good and the prices fair. President Endicott has resigned the presidency of the Oregon Trans-Continental company. Elijah Smith is his successor. A natural gas well has been discovered near Pittsburg of eight thousand horsepower at a depth of fifteen hundred and sixty feet. A railroad is being surveyed in Clearfield and Cambria counties, Pa., which will open up the largest bituminous coal fields in the State. A tabernacle is to be erected in Chicago by the temperance workers, and be moved to different parts of the city for the purpose of holding meetings. The last of the Chiricahua and Warm Spring Inndians, who fled to Mexico, have returned to their reservation. Among them are two sons of Juh. The propeller J.S. Seaverns, loaded with sundries, was recently sunk near Port Arthur, Lake Superior, in sixty feet of water. She was valued at $15,000. At the National Jockey Club races at Washington Gath, in taking a hurdle, caught his foot and, falling upon his head, broke his neck and died. The balance sheet of the Cincinnati dramatic festival shows a deficiency of $42,700, and an assessment of 50 per cent has been made on the guarantors. At the meeting of the African Methodist Episcopal general conference, in Baltimore, Bishop Payne stated that the slave trade in Central Africa is still carried on. Suit has been filed against Donnell, Lawson & Simpson by the Ft. Worth Water company for the recovery of $13,000, said to be due on the sale of bonds. The open Board of Trade of Chicago has on hand $67,258. The cost of the new building is estimated at $150,000, and will be ready for occupancy early in June. Much surprise has been created at Racine, Wis., by the receipt from Oregon, of a deed executed by John Blocksidge, who for four years has been supposed to be dead. A reunion of the 9th Ohio veterans at Louisville was attended by fourteen ear loads of ex-soldiers of both armies. Mayor Jacob delivered an address of welcome. The Pennsylvania Bank, of Pittsburg, closed its doors n account of a continued run for several days. It is understood that the liabilities will not exceed $1,500,000. Eight million dollars in legal tenders were forwarded by the Treasurer of the United States to the Assistant Treasurer in New York to be used in case of necessity. One hundred and eighty-four delegates were presentat the opening of the fourteenth Quadrennial general conference of the Methodist Protestant church, in Baltimore. President Hood stated at the annual meeting of the board of fire underwriters in New York that the loss by fire during the past year had aggregated over $100,000,000. Secretary Folger has issued the one hundred and twenty-eighth call for the redemption of bonds to the amount of $10,000, 000, as three per cents, maturing June 30th. A proclamation restoring to the public domain lands set apart for the Jicarilla Apache Indians in New Mexico, embracing acres, was issued by President Arthur. A general strike on the part of iron workers is now regarded as nprobable at Pittsburg. The employes will accede to the demands of the Amalgamated Association. Cyrus W. Field says the cause of the crash in Wall street is reckless speculation by men who have no right to speculateofficers of banks, railway presidents and others. Washington is the head-quarters for cranks. An old lady claiming to be "Queen Lucinda from Louisville,' wanted possession of the Executive Mansion recently. The General Conference of the M. E. church adopted a resolution declaring it inexpedient to take any action as to the licensing of women to preach or the ordaining of them. At the National Brewers' Convention at Rochester, resolutions for the objects of the association were adopted. Officers of the
Click image to open full size in new tab
Run on a Bank. PITTSBURG, Mry 21.-The Pennsylvania bank, of this city, closed its doors at 12:30 p. m. and posted the following on the doors: "Owing to a continual run for several days, we have decided that it is best for depositors and all concerned to suspend for the present." There is great excitement, and a crowd surrounds the bank. Officers have been placed at all the doors.
Click image to open full size in new tab
THE PENNSYLVANIA BANK, Suspended Again and Its President III. PITTSBURG, May 26.-The Pennsylvania Bank closed its doors again at 12 o'clock today and posted the following notice on the door: "Mr. Riddle, the President and chief executive 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 of the Board." PITTSBURG, May 26.--The news of the second suspension of the Pennsylvania Bank spread rapidly and created intense excite ment and surprise, owing to the fact that everybody had faith in the bank's ability to pay all claims. The immediate cause is at present unknown. Nothing definite can be learned, as the Directors positively refuse to be interviewed. Large crowds have been flocking to the bank, and the pavement in front is filled with anxious depositors and persons attracted through curiosity. President Riddle appeared in usual health at 10 o'clock this morning, but half an hour later he was prostrated with hemorrhage of the lungs, and since then has had three repetitions thereof. He is lying at the Duquesne club rooms unconscious, with little hope of recovery. Close friends of Mr. Riddle are unable to give any explanation of the sudden turn in affairs. It is said, however, that there had been a heavy run on the bank this morning, principally by checks, and $260,000 were drawn this way through the clearing house. The crash was brought about by the clearing house throwing out checks amounting to $265,000. According to their statement the Directors of the bank had raised $931,000 to pay liabilities amounting to $918,000. It is said there were $300,000 in certified checks out, which were not included and had to be paid. The banks which loaned the suspended Institution funds to tide it over are amply secured. Riddle's illness was caused by an overdose of morphia or chloroform taken this morning. Physicians are endoavoring to relieve him of the medicine.
Click image to open full size in new tab
The Pennsylvania Bank. 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 securities valued at $451,000. appropriated the day the bank failed to secure themselves against loss for notes given the associated banks at the time the latter loaned them money to tide over the first suspension.