19556. Providence Savings Bank and Trust Company (Township of Providence, PA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 13, 1879
Location
Township of Providence, Pennsylvania (39.909, -76.233)

Metadata

Model
gpt-5-mini
Short Digest
dcd314a6

Response Measures

None

Description

Multiple contemporary newspapers (Apr 12–14, 1879) report the Providence Savings Bank and Trust Company of Providence, PA suspended after taking advantage of the sixty-days law and being unable to meet its obligations. Articles describe insolvent condition (assets largely uncollectible). No articles mention a prior run or later reopening; suspension appears to be a permanent failure.

Events (1)

1. April 13, 1879 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank unable to meet obligations; assets largely notes and bonds with much uncollectible value (probable heavy loan/asset losses).
Newspaper Excerpt
The Providence Savings Bank and Trust Company, of Providence, Penn., suspended yesterday, being unable to meet its obligations after having taken advantage of the sixty days law. Liabilities are $75,000, and the assets $100,000, principally in notes and bonds, of which probably not more than half can be collected.
Source
newspapers

Newspaper Articles (10)

Article from New-York Tribune, April 14, 1879

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SUSPENSION OF A SAVINGS BANK. SCRANTON, Penn., April 13.-The Providence Savings Bank and Trust Company, of Providence, Penn., suspended yesterday, being unable to meet its obligations after baving taken advantage of the sixty days law. The liabilities are $75,000, and the assets $100,000, principally in notes and bonds, of which probably not more than half can be collected.


Article from The Wheeling Daily Intelligencer, April 14, 1879

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A Dispensation of Providence, SCRANTON, PA., April 13.-The Providence Savings Bank and Trust Company, of Providence, Pa., suspended yesterday, being unable to meet its obligations, after having taken advantage of sixty days law. Liabilities, $75,000; assets, $100,000, principally in notes and bonds, of which probably not more than half can be collected.


Article from Wheeling Register, April 14, 1879

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Bank Failure. SCRANTON, PA., A pril 13.-The Providence Savings Bank and Trust Company of Providence, Pa., suspended yesterday, being unable fo meet its obligations after having taken advantage of the sixty days law. Liabilities $75,000. As sets $100,000, principally in notes and bonds, of which probably not more than half can be collected.


Article from Daily Kennebec Journal, April 14, 1879

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Suspension. SCRANTON, April 12. The Providence Savings Bank and Trust Company of Providence, Penn., has suspended. Liabilities, $75,000. Fire. TORONTO, April 13. A stationary store, music store, dwelling and printing office were burned here to-day. Loss, $35,000.


Article from Daily Globe, April 14, 1879

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Savings Bank Suspension. SCRANTON, Pa., April 13.-The Providence Savings Bank and Trust company of Providence, Pa., suspended yesterday, being unable to meet its obligations after having taken advantage of the sixty days law. Liabilities, $75,000; assets, $100,000, principally in notes and bonds of which probably not more than half can be collected.


Article from The Daily Gazette, April 14, 1879

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They have a whole lot of complications over the result of the recent election in St. Louis. In the first place, a Democratic candidate for the Municipal Assembly died on the morning of the elecrion, but votes were nevertheless cast for him, and be received a majority of twenty-four. The Republican now claims the seat as having been the only candidate in the field. The Providence Savings Bank and Trust Company, of Providence, Pa., suspended on Saturday, after having taken advantage of the sixty days' law. Its liabilities are reported at $75,000, its assets at $100,000, chiefly in notes and bonds, of which not more than half are likely to be collected.


Article from Memphis Daily Appeal, April 16, 1879

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Pretty Hefty Suspensions. SCRANTON, April 13.-The Providence savings bank and trust company, of Providence, Pennsylvania, suspended yesterday, being unable to meet its obligations after having taken advantage of the sixty day law. Labilities, seventy-five thousand dollars; assets, one hundred thousand dollars, principally in notes or bonds, of which probably not more than one half can be collected.


Article from Centre Democrat, April 17, 1879

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GENERAL NEWS. The taking of the census next year will cost about $4,000,000. There are about 700 men employed in the railroad shops at Renovo. S.S. Seely, editor of the Jersey Shore Herald, is in quite feeble health. A snoring match is to come off in Harrisburg, the man making the most notes in a given time to receive a prize A young man in Salladsburg boasts that he has kissed a girl 450 times in six hours and three laps, and thinks has won the premium. Geo. L. 1. Painter, Esq.. has retired from the publication of the Muncy Luminary, and is succeeded by his sons, Pathier 8 I y LL M A new school house is to be built Huntingdon, under a contract of $15, 295. Preparations for thebuilding menced last Monday. The Kentucky Republican State Con. vention at Louisville last Thursday very largely attended. Walter Evans was nominated for Governor. A band of gypsies occupying wagons fitted up with every convenience drawn by well-fed horses driven by ored hostlers recently passed through Lancaster county. Three boys were drowned in the Ohio liver. opposite Wellsville, Ohio, on day, by the upsetting of a skiffin which they rowed out to enjoy the swell from Buissed 11 An energetic effort will be made by publishers to secure a diary in which Madame Bonaparte made copious notes of the leading events in her life. Dur ing life she was offered $10,000 for these notes by a Boston publishing house. Miss Julia Eveline Smith, of Glaston bury, Vt., the only survivor of the Smith sisters, celebrated for their resistance taxation without representation, married on Wednesday last to Amos Parker, of New Hampshire. Both bride and groom are in their 89th year. Charles W. McKeough, chief steward of the steamer Bohemian, from Liverpool, was arraigned before a United States Commission at Boston, Monday, on the charge of smuggling small cels of Irish whisky. Edward Malley was also arrested for receiving the liquor. Both parties were held in each Providence Savings Bank and Trust Company, of Providence, Pa., suspend ed last Saturday, being unable to its obligations after having taken ad vantage of the sixty-days laws. The liabilities are $75,000 and the $100,000, principally in notes and bonds of which probably not more than can be collected. The proposition of the coal miners New Castle, Pa., that wages that have been reduced now from six to and a half per cent. for various classes of work and that the remainder of the master's demands be submitted to tration has been rejected. A long and fruitless discussion followed this action Meetings were held last Saturday which seventeen thousand men present. They declared their determination to resist the masters' demand. Good Friday was observed in York in an appropriate manner. Business of the Stock, Produce and Cotton Exchanges were entirely suspended, while many stores and warehouses closed. None of the State Courts in session and very <little was done around the municipal and Federal partments. Services were held in churches, which were attended by large congregations. In Brooklyn the Courts and municipal departments were also closed and churches were filled with worshippers. Thursday morning last, Mr. Samuel Stem, owner of a large tannery Waterford, Juniata county, was killed on the railroad. Wednesday night in company with Joseph Deering, a chant of Johnstown, Juniata county, left Philadelphia on the Pacific express, having a ticket to Harrisburg where intended stopping until morning, and then going west on the way passenger train. The supposition is that in the neighborhood of Hanna street the was aroused from a sleep by the brake. man announcing "Harrisburg," and


Article from New Ulm Weekly Review, April 23, 1879

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lantic in balloon. FORTS STEVENSON and Lincoln recently both came very near being destroyed the case, up *serg sq -USUI Morking 4q 'pus "ino peum; eq: DATE of peZs THE Providence Savings Bank and Trust Company, of Providence, Pa., has obliga- and teem of adable Sajeq 'pepuedens tions, after having taken advantage of the Sixty-Days' law. Liabilities, $75,000; nomi'000'00TS [su ON the afternoon of the 14th, the little Town of Collinsville, in Madison County, III., was visited by cyclone, which centered in the village. Fifty houses were prostrated, [ JO more UMO2 em up structure AJOAQ pas injured. Three persons were killed outright, and several more or less hurt. The cemetery, PIS[ SUM the JO 19nf ATT of Invelop " up pus "punoss THE mercantile agency of R. G. Dun & Co. gives the number of failures in the States and Territories during the quarter endjo 421M TW 1876 18 челед Dug $43,112,665. For the same time last year the failures numbered 3,355, and the liabilities amounted to $82,078,826. surviver the 'HLINS E 31101 ssryp of the celebrated Glastonbury (Conn.) sisters, D somy "JW 04 'oXe slap Mej . marride SUM Parker, of New Hampshire. Both groom and bride are eighty-six years old. JOHN P. PHAIR, lately hanged in Vermont, left a last statement, since pub. que uodn eq quick ap hill euop you SBM Justice This declares pus AT the Talmage trial, before the New York Presbytery, on the 14th, a motion was made to dismiss the charges, but the defense strongly opposed it, insisting that Mr. Talmage should have the opportunity to show the utter groundlessness of the charges, and the motion was withdrawn. IN the United States Court at Charlesthe depued puog expnf '477-1 eq: uo "O 'S "not motion of defendants, in the election-fraud cases, to set aside the juries as illegally drawn; also a motion for continuance and a motion to prevent the application of the test-oath to jurors. His associate, Judge Bryan, dissented, and Judge Bond announced that, pending appeal on these issues to the Supreme Court, the accused, if convicted, ball of eq pinom IN the absence of Vice-President Wheeler, on the 15th, he having been called United the up stokens 4q AUMS States Senate elected Senator Thurman, of Ohio, President pro tem. The Republicans voted for Senator Ferry, of Michigan. AT Springheld, 111., about one o'clock on the afternoon of the 15th, some thief entered the office of the State Treasurer, JOJ 1119 8 change SUM clerk the Mhile 'pue . secured pus relling the reached "my package of currency containing $5,000. Nothof dn thileve the TO been psq But arreeted been puq persons OM3 anq subjections uo ACCORDING to a Vicksburg (Miss.) -uoo supoxe 0.13eu the 1534 the 10 telerant tinued, every St. Louis packet taking numbers of emigrants. Negroes were awaiting transportation at almost every landing between Vicksburg and Memphis. THE returns of the late special Congressional election in the Sixth Texas District for a successor to the late Mr. Schleicher, indicated, on the 16th, the election of Upson (Dem.) over Maney (Greenback) by about 000'8 THE Refugee Relief Committee of St. Louis made a further appeal, on the 16th, for aid, stating that the tide of colored emipus 'up 108 a paq unos the more Read the committee were not only out of money, og *1qep up dollars h several 0.00M and 10 there arrived peq 000'9 JOAO JUJ ABA thelr Pay 04 able From 200'g a wous to Kansas. The remainder were sheltered, fed and partially clothed while in St. Louis, 07 pied SEM exessed the pus ques eq ABUI chotble JO Aenour up PIV "usy to Rev John Turner, 1513 Morgan street, or Rev. Moses Dickson, 1211 Morgan street. THE Iowa Republican State Convention for the nomination of candidates for no Desidents 18 held eq IIIM "*** Governor "II runf THE full official returns of the late Wisconsin election, show that Judge Cole, the Republican candidate for Justice of the Supreme Court, received & majority of 33,133 A016 PROF. CYRUS THOMAS, State Entomologist of Illinois, has been offered and declined the position of Entomologist of the Department of Agriculture, at Washington. THE Illinois House of Representatives has discharged Frank E. Nevins, the recalcitrant reporter, from imprisonment. To A recent application for the issue of rations to feed the colored people who have lately arrived at Wyandotte, Kan., Sec'y McCrary replied that he had no authority to grant the relief asked for, and suggested application to Congress. The Citizens' Relief Committee of Wyandotte has issued an appeal to the public for contributions to aid the suffering immigrants. United the JO A THE States has affirmed recent decision of the Assistant Attorney-General for the Postoffice Department, that a regular publication, designed primarily for advertising purposes, rates to mails the ques eq cannot charged legitimate newspapers. A NEW YORK dispatch of the 17th announces that a syndicate composed of banks of that city and Boston had subscribed for $150,000,000 4-per-cent. Government cortificate Supunj 000'000'01$ pus spuoq this being the largest single subscription JO this up laan Covernment 8 04 оръш JOAD any other country. The subscription was made according to the terms prescribed by Sec'y Sherman in his circular of the 16th. HEZEKIAH SHAFFER, a wife-murderthe uo Part 18 perfusq SUM 'Je 8 as the 07 carried SUM °H 1274 blanket, the loss of blood consequent upon before mer 8 subject THE atternet us rendering him unable to walk. THE jury in the Olive murder trial, . up quanorq '4721 the no "qeN TO of murder in the second degree pus Floher Receerich pus earlo 'd 'f Jequire the Judge sentenced both the prisoners to the Penitentiary for life. The crime for 10 that SEM pepsi элем they which Luther Mitchell, by shooting and burning, in Custer County, in December last. Four other parties were to be tried for the same crime. A TERRIFIC tornado passed over the lower portion of South Carolina, on the 16th, proper- pus life 04 destriction Breat usqq e.our JO the "I & one hundred dwellings and


Article from The Redwood Gazette, April 24, 1879

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Republicans in all the boards of local government. THERE were thirteen business failuses in Chicago during the month of March, with liabilities aggregating $471,330, and assets amounting to $342,950. THE Kentucky State Republican Convention met at Louisville, on the 10th. Walter Evans was nominated for Governor, 0. S. Deming for Lieutenant-Governor, W. 0. Bradley for Attorney General, Richard P. Stall for Treasurer, John A. Williamson for Auditor, M. O'Dougherty for Register, and M. McIntyre for State Superintendent. The resolutions affirm the platform of 1876; favor education; advise the calling of a Convention to amend the Constitution; condemn the Democratic mismanagement of affairs in the State, etc., etc. THE United States Senate, on the 10th, decided, by a vote of 35 to 28, that Charles H. Bell was entitled to a seat in that body by virtue of appointment of the Governor of New Hampshire. Mr. Bell was consequently sworn in to fill the vacancy from that State. THE Massachusetts House of Representatives, on the 10th, rejected a bill to secure women the right to vote on municipal affairs in cities and towns. A bill to give women the right to vote for members of School Committees was passed. JOHN TAYLOR has been re-elected President of the Twelve Apostles and Trustee of the Mormon Church. No successor to Brigham Young, as President of the Church, has been elected. THE Fidelity Bank building, the Fidelity Safe Deposit Vaults and Hooley's Theater, property belonging to the defunct Fidelity Savings Bank of Chicago, were sold at auction, on the 10th, for the sum of $192,400. JOHN P. PHAIR, the Vermont murderer, who had been three times reprieved, was hanged, on the 10th, at the State Peniten tiary in Windsor. THE New Orleans authorities have determined to quarantine for twenty days all vessels arriving from ports in the West Indies, the Gulf of Mexico south of Texas, and South America, after the 1st of May, with the object of preventing the introduction of yellow fever. AT the rolling-mill in Cleveland, Ohio, on the 10th, a bar of iron being run through the rollers encircled a boy in its fantastic folds, and literally burned his body in two. SEVEN Indians attacked Serg't Kennedy and his escort, consisting of one private soldier, at Mizpah, forty-five miles from Fort Keogh, D. T., on the 10th, killing the escort and badly wounding the Sergeant. Kennedy was, until lately, the signal observer at Deadwood. DURING a recent thunder-storm in Chicago, a meteor burst, from which as much as two bushels of fragments were secured. A WASHINGTON dispatch of the 10th says the National Executive Committee of the Colored Emigration Society had adopted resolutions requesting Government aid, through the Quartermaster's and Commissary Departments, to the destitute colored emigrants arriving at St. Louis and other points on the Mississippi River. AT a well-attended caucus of the Republican Senators, on the afternoon of the 12th, it was agreed that every possible effort should be made to defeat the passage of the Army Appropriation bill in its present shape, for the reason mainly that the enactment of the sixth section would prevent the use of the posse comitatus on election days for the execution of civil processes of any and all descriptions issued by United States authority. This was the position taken by ex-Sec'y Robeson in his recent speech in the House. The caucus unanimously agreed to disregard the position of Mr. Garfield, that the legislation would be accepted if presented as a separate measure. GEN. RICHARD TAYLOR, late of the Confederate Army, a son of the late President Taylor, died in New York, on the 12th. ALFRED A. BURNHAM, a former Member of Congress from Connecticut, died at Hartford, on the 12th. E. H. BROWN, the Manager of the Western Union Telegraph Company, at St. Louis, refused to produce certain telegrams before the Grand Jury, on the 12th, and was ordered into the custody of the City Marshal, for contempt of court. A SAILOR, named Peter Snell, died at Milwaukee, on the 12th, from hydrophobia. THE Executive Committee of the National Emigration Aid Society have completed their organization by electing Senator Windom President, E. M. McPherson Treasurer, and Prof. Richard Greener Secretary. Arrangements will also be completed for perfeeting local organizations. The officers of the Association stated, on the 13th, that their appeals for aid had met with favorable responses from philanthropic persons, North and South, irrespective of party. PROF. KING, the Philadelphia aeronaut, has made announcement through news paper reporters that he intends making an attempt, within a few months, to cross the Atlantic in a balloon. THE Providence Savings Bank and Trust Company, of Providence, Pa., has suspended, being unable to meet its obligations, after having taken advantage of the Sixty-Days' law. Liabilities, $75,000; nominal assets, $100,000. FORTS STEVENSON and Lincoln recently both came very near being destroyed by prairie fires. In each case, the garrison turned out, and, by working desperately, managed to save the forts. ON the afternoon of the 4th, the little Town of Collinsville, in Madison County, III., was visited by a cyclone, which centered in the village. Fifty houses were prostrated, and every structure in the town more or less injured. Three persons were killed outright, and several more or less hurt. The cemetery, just outside of the village, was laid waste, and every tombstone in it leveled to the ground. THE mercantile agency of R. G. Dun & Co. gives the number of failures in the States and Territories during the quarter ending March 31, 1879, at 2,524, with liabilities of $43,112,665. For the same time last year the failures numbered 3,355, and the liabilities amounted to $82,078,826. CONGRESSIONAL. SENATE.-The Army Appropriation bill reported. without amendment the