19561. Tyrone bank (Tyrone, PA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
private
Start Date
December 21, 1891
Location
Tyrone, Pennsylvania (40.671, -78.239)

Metadata

Model
gpt-5-mini
Short Digest
219bb151

Response Measures

None

Description

The Tyrone bank (a private institution) failed to open Dec 21, 1891 and 'suspended' due to a heavy drain on resources. It did not reopen; an assignee was appointed and the bank's effects were turned over and appraisers reported assets, indicating permanent closure and assignment for creditors.

Events (4)

1. December 21, 1891 Suspension
Cause Details
Closed because of a drain upon the resources; heavy withdrawals depleted funds forcing the bank to close.
Newspaper Excerpt
ALTOONA, Pa., Dec. 21.-The Tyrone bank, a private institution, failed to open its doors this morning.
Source
newspapers
2. December 25, 1891 Other
Newspaper Excerpt
PITTSBURG, PA., Dec. 25.-...suits for $30,000 have been entered against Cashier Guyer and the stockholders of the Tyrone bank, which suspended recently. A. B. Hoover, the largest stockholder, transferred his property ... meanwhile the liabilities are still mounting up as unknown depositors continue to put in claims.
Source
newspapers
3. December 28, 1891 Receivership
Newspaper Excerpt
TYRONE, Pa., Dec. 28.-The cashier and stockholders of the defunct Tyrone bank turned over all their property to Assignee Stearns today for the benefit of their creditors.
Source
newspapers
4. January 26, 1892 Other
Newspaper Excerpt
Hollidaysburg, Pa., Jan. 26.-The appraisers in the estate of the Tyrone bank...made a report...showing the total resources of the bank to be $158,254.78...If this statement of the assets is correct the bank will pay dollar for dollar of its indebtedness.
Source
newspapers

Newspaper Articles (12)

Article from Los Angeles Herald, December 22, 1891

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Article Text

Embarrassed Banks. STAUNTON, Va., Dec. 21.-The private banks at Waynesboro, Warrenton and New Market, Va., all suspended today. Shirley & Rosenberger were owners of the Waynesboro and New Market banks. It is believed the depositors will be paid in full. ALTOONA, Pa., Dec. 21.-The Tyrone bank, a private institution, failed to open its doors this morning. The bank has always been regarded as sound, and the failure was a great surprise. Assets and liabilities not known.


Article from Daily Tobacco Leaf-Chronicle, December 23, 1891

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Article Text

NEWS IN BRIEF. A Condensation of Interesting Items on Various Subjects. Emperor Francis Joseph has the grip. Walt Whitman, the poet, is said to be dying. The bank of Waynesboro, Va., has suspended. At Shamokin, Pa., two boys were drowned while skating. Mrs. Sarah Ferguson died Monday at Franklin, Ind., aged ninety-six. At Lima, O., Bert Urich fell from a freight and was ground to pieces. A. E. Antrom, fell from an electric car in Cincinnati and was decapitated. The Tyrone (Pa.) bank suspended, owing to a heavy drain upon its resources, Fire at Albrightsville, W. Va., destroyed the historic 115-year-old dwelling of John C. Crane. Unknown man was found murdered on the bank of the Mississippi, at Wickliffe, Kentuky. The Rev. E. A. Stafford, one of the most prominent Methodist clergyman of Can ada, is dead. Taylor Brothers' elevator burned at Camden, N. J. Loss on building and contents $28,000. Father Kroeger, of Elkhart, Ind., has skipped out, leaving creditors to the amount of $17,000. It is probable that the acreage of cotton will be considerably reduced in order to raise the price of cotton. William Embry, a distiller of Silver Creek, Ky., suicided by shooting. He had been a hard drinker for years. Thomas H. Allen & Company, Memphis cotton factors, have failed. Liabilities, $544,000; assets about two-thirds. Chinese advices state that about 1,000 Christians have been massacred by the recent disturbances in narthern China. At Junction City, near Danville, Ky., James Grisham, aged thirteen, caught his foot on the track and was run over and killed. Monday the treasury balance was $32,918,603, the lowest point reached since the new form of stating the balance was adopted. One James Perry, claiming to be from Cincinnati, has, it is alleged, duped several Louisville people out of considerable sums of money. Russell Sage has again been threatened by a bomb. Saturday night the Sage household was disturbed by a violent ring of the bell A servant on opening the


Article from Grant County Herald, December 24, 1891

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Article Text

Closed Its Doors. ALTOONA, Pa., Dec. 23.-The Tyrone bank, a private institution, failed to open its doors Monday morning. The assets and liabilities are not known. An uneasy feeling prevails, and it is feared that a run on the other two banks will ensue.


Article from The Cambria Freeman, December 25, 1891

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Article Text

-A new remedy has been discovered for the grip. A Derry, Westmoreland county, man says the disease spread rapidly in his family and they were all cured by eating hickory nuts. He claims that the oil in the "goodies" loosened the cough and that they all got well in a short time. It is an easy medicine and should be given a trial. -Great excitement was caused at Tyrone on Monday morning by the closing of the doors of the Tyrone bank, a private concern. The following notice gives all the information obtainable as to the cause of the failure, as the stockholders areeither out of town or refuse to talk: "A drain upon the resources compels this bank to close for the present." Guyer, the cashier, is also away from home. The liabilities are estimated at $75,000, with assets supposed to amount to $50,000. No other banks will be affected by the failure. -By the explosion of a can of powder in J. B. Holsinger's jewelry store at the corner of Adams and Bedford streets, in Johnstown, on Tuesday evening, the windows were blown out, a lot of watches and jewelry scattered over the floor and into the street, and the shelving of a grocery store in the same building, separated by a plastered partition, thrown down, breaking the show cases and piling the contents of the shelyes promiseuously on the floor. Mr. Holsinger had a can of powder containg about one pound on the floor under the counter and open. He, without thinking of the danger, struck a match under the counter, when the phosphorous flew off the match and into the can. He had but time to turn his head when an explosion followed, and he was badly burned about the hands, and his eyebrows, hair and mustache burned off. Although several persons were in the room at the time, Mr. Holsinger was the only person injured. He will recover. -A gentleman named Kuhns, of Greensburg, about a year age bought the timber on upwards of a thousand acres along Yellow Run in Adams township, this county, agreeing to pay $2.50 per thousand feet for stumpage. He went to work, expending about $1,000 on a dam for a saw miil and was moving along swimmingly until a month or six weeks ago. when notice was served on him by the Pennsylvania railroad company to cease operations, the company having right of way for its new South Fork branch railroad and claiming it was about to extend the line, and would pass through the place selected for the dam. There has been talk that the road would be extended eight miles which would take it to the top of the Allegheny mountains. The residents there do not believe, however, that it will for the present be extended more than a mile. The site of the dam is within a few hundred yards of the present terminus of the railroad. Mr. Kuhus is the manager of the store at y the new town of Dunlo.-Johnstoren Tribname.


Article from Daily Tobacco Leaf-Chronicle, December 25, 1891

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Article Text

NEWS IN BRIEF. A Condensation of Interesting Items on Various Subjects. Emperor Francis Joseph has the grip. Walt Whitman, the poet, is said to be dying. The bank of Waynesboro, Va., has suspended. At Shamokin, Pa., two boys were drowned while skating. Mrs. Saral Ferguson died Monday at Franklin, Ind., aged ninety-six. At Lima, O., Bert Urich fell from a freight and was ground to pieces. A. E. Antram, fell from an electric car in Cineinnati and was decapitated. The Tyrone (Pa.) bank suspended, owing to a heavy drain upon its resources. Fire at Albrightsville, W. Va., destroyed the historic 115-year-old dwelling of John C. Crane. Unknown man was found murdered on the bank of the Mississippi, at Wickliffe, Kentuky. The Rev. E. A. Stafford, one of the most pr ominent Methodist clergyman of Canada, is dead. Taylor Brothers' elevator burned at Camden, N. J. Loss on building and contents $28,000. Father Kroeger, of Elkhart, Ind., has skipped out, leaving creditors to the amount of $17,000 It is probable that the acreage of cotton will be considerably reduced in order to raise the price of cotton. William Embry, a distiller of Silver Creek, Ky., suicided by shooting. He had been a hard drinker for years. Thomas H. Allen & Company, Memphis cotton factors, have failed. Liabilities, $544,000; assets about two-thirds. Chinese advices state that about 1,000 Christians have been massacred by the recent disturbances in narthern China. At Junction City, near Danville, Ky., James Grisham, aged thirteen, caught his foot on the track and was run over and killed. Monday the treasury balance was $32,918,603, the lowest point reached since the new form of stating the balance was adopted. One James Perry, claiming to be from Cincinnati, has, it is alleged, duped several Louisville people out of considerable sums of money. Russell Sage has again been threatened by a bomb. Saturday night the Sage household was disturbed by a violent ring of the bell A servant. on onening the


Article from The Morning News, December 26, 1891

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Article Text

Tyrone's Broken Bank. PITTSBURG, PA., Dec. 25.-A special to the Dispatch from Tyrone says suits for $30,000 have been entered against Cashier Guyer and the stockholders of the Tyrone bank, which suspended recently. A. B. Hoover, the largest stockholder, transferred his property to J. C. Koller of Philadelphia yesterday, thereby creating great indignation among the depositors. Meanwhile the liabilities are still mounting up as unknown depositors continue to put in claims.


Article from Perrysburg Journal, December 26, 1891

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Article Text

LATER. THE Tyrone (Pa.) bank, a private institution. failed to open its doors on the 21st. The bank has always been regarded as sound and the failure was a great surprise. The assets and liabilities are not known. Six officers armed with Winchesters and a requisition arrived in Memphis, Tenn., on the 21st, and took Tall Hall, the Kentucky murderer. in charge and left with him for Virginia. Twentyseven murders have been traced to Hall. THE sheriff has seized the American Waterworks Company's plant at Omaha, Neb., on attachments issued for $110,000. The Denver plant has also been attached. A THOUSAND native Christians were massacred during the recent disturbance in northern China. CHARLES WAITE, private secretary of Chief Justice Follett. of the court of appeals, committed suicide at Norwich, N. Y., on the 21st. Two sons of Frank Johnson while skating at Shamokin, Pa., on the 21st, broke through the ice and were drowned. AT Stuttgart, Ark.. on the 21st a mob went to the county jail and took a man named Smith, his son-in-law, Gregory, and a negro named Henderson from jail and riddled them with bullets. They were charged with attempting to assassinate the divorced wife of Smith. A PASSENGER train on the Lehigh Valley road ran into a landslide at Rockport, Pa., on the 21st. Michael Lavelle, an engineer on the Central railroad of New Jersey, who was riding in the cab, was killed. The engineer in charge of the train escaped. George Weaver, his fireman, was fatally injured. OWING to the tightness of the money market the Bank of Waynesboro, Va. has suspended payment. It is not thought that depositors will lose anything. AT Pittsburgh, on the 24th, the grand jury indicted Mayor Wyman, of Allegheny, for embezzlement of city funds and for extortion in the matter of witness fees. Ex-Mayor Pearson and Market Clerk Hastings. of Allegheny, were also indicted for embezzlement of city funds. In the senate on the 21st after prayer by the chaplain. Mr. Peffer arose and announced the death of his colleague, Mr. Plumb. Resolutions of sorrow were adopted and a committee appointed to accompany the remains of the dead senator to their last resting place at Emporia, Kan. Funeral services were then held in the senate chamber. participated in by the president and his cabinet, both houses of congress and the diplomatic corps, after which the sen. ate adjourned.


Article from St. Paul Daily Globe, December 29, 1891

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BUSINESS&BREAKS, Failures in Many Parts of the Country. BESSEMER, Mich., Dec. 28.-M. A. Mittenthal, dealer in men's furnishings and clothing. has failed. Liabilities, $22,000; assets will probably reach $18,000. Foreclosure of mortgages aggre., gating $12,000 caused the failure. FAIRBURY, III., Dec, 28.-Charles Bradley, dry goods and clothing, has failed. Liabilities will probably amount to $50,000. Assets about half. CHICAGO, Dec. 28.-George A. Ritzler, wholesale crockery. assigned today. Liabilities, $31,000: assets, about half. TYRONE, Pa., Dec. 28.-The cashier and stockholders of the defunct Tyrone bank turned over all their property to Assignee Stearns todav for the benefit of their crediters. This will swell the assets to $160,000, and the depositors havę good prospects of getting dollar for dollar. WARRENTON, Va., Dec. 28.-A statement of the affairs of Rosenberger, Spendler & Co., the Newmarket (Va.) bankers, who had branches here and in two other towns places the combined shortage at about $100,000. The shortage of the Warrenton bank is between $35,000 and $40,000,


Article from The World, January 26, 1892

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Will Pay Dollar for Dollar. Hollidaysburg, Pa., Jan. 26.-The appraisers in the estate of the Tyrone bank, of Tyrone, Pa., which recently failed and assigned its effects, made a report to the Blair county court, showing the total resources of the bank-to be $158,254.78. If this statement of the assets is correct the bank will pay dollar for dollar of its indebtedness. A. A. Stevens, the assignee of the bank, gave bonds in the sum of $800,000,


Article from The Wilmington Daily Republican, January 26, 1892

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Will Pay Dollar for Dollar. Hollidaysburg, Pa., Jan. 26.-The appraisers in the estate of the Tyrone bank, of Tyrone, Pa., which recently failed and assigned its effects, made a report to the Blair county court, showing the total resources of the bank to be $158,254.78. If this statement of the assets is correct the bank will pay dollar for dollar of its indebtedness. A. A. Stevens, the assignee of the bank, gave bonds in the sum of $800,000.


Article from Grand Rapids Herald, January 27, 1892

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Tyrone Bank to Pay in Fall. HOLLIDAYSBURG, Pa., Jan. 26.-An appraisement of the suspended Tyrone bank was made in the Blair county court Monday. The total assets of the bank are $158,254. If this statement of the assets is correct the bank will pay its indebtedness in full.


Article from The World, January 29, 1892

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Will Pay Dollar for Dollar. HOLLIDAYSBURG, Pa., Jan. 26.-The appraisers in the estate of the Tyrone bank, of Tyrone, Pa., which recently failed and assigned its effects, made a report to the Blair county court, showing the total resources of the bank to be $158,254.78. If this statement of the assets is correct the bank will pay dollar for dollar of its indebtedness. A. A. Stevens, the assignee of the bank, gave bonds in the sum of $300,000.