19581. Washington Savings Bank (Washington, PA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
April 11, 1882
Location
Washington, Pennsylvania (40.174, -80.247)

Metadata

Model
gpt-5-mini
Short Digest
70473374

Response Measures

None

Description

The bank was compelled to suspend on April 11, 1882 due to a large defalcation by cashier Samuel Ruth. A receiver (Gen. John Hall) was appointed in early May 1882 and the receiver sold the bank's property and converted assets; criminal prosecution of the cashier followed. No article describes a depositor run; the institution was suspended and wound up under a receiver, i.e., permanent closure.

Events (3)
1. April 11, 1882 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Large embezzlement/defalcation by cashier Samuel Ruth; accounts over $100,000 in arrears; bank insolvency revealed.
Newspaper Excerpt
On April 11, 1882, the bank was compelled to suspend on account of his defalcation.
Source
newspapers
2. May 7, 1882 Receivership
Newspaper Excerpt
Judge Hart appointed Gen. John Hall receiver on application of Barker's attorney. Hall was directed to give bond in $150,000, and will at once proceed to a settlement of the bank's business.
Source
newspapers
3. June 2, 1882 Other
Newspaper Excerpt
Ex-Marshal John Hall, receiver of the Washington Savings Bank, sold at public sale the building owned and occupied by the bank, for $9,600. This afternoon two farms, near town, property of the bank, and each containing one hundred and fifteen acres, were sold...
Source
newspapers

Newspaper Articles (14)
1. May 8, 1882 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, May 8, 1882

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Article Text

RUTH'S RAID. The Latest Proceedings In Regard to the Depleted Bank. Special to the Intelligencer. WASHINGTON, PA.. May -Yesterday Lewis Barker, one of the stockholders of the Washington savings bank, filed a bill to dissolve the association. The substance of the bill is as follows: The stock of the bank consisted of 3,000 shares, at $50 per share, 20 per cent. of which has been paid in; that Cashier Ruth has confessed that he embezzled $60,000 of the bank's money an 1 cancelled his embezzlement by false entries; that the books are SO confused that the exact condition of the bank cannot be ascertained; that a part of the assets of the bank are at present unavailable; that it will take time to reduce its real estate to money; that this will not be sufficient to cover liabilities, and that a call on the stock will be necessary; that Jas. Kuntz, president, was a trustee, and all the real estate and loansare in his name and that on this account he is un willing to continue as trustee. The bill further requests that the stockholders and defendants m tke answer and comply with the order of the court; that the partnership be declared to be dissolved and a receiver appointed, and that stockholders contribute according to the number of their shares sufficient same to pay the liabilities of the bank. Judge Hart appointed Gen. John Hall receiver on application of Barker's attorney. Hall was directed to give bond in $150,000, and will at once proceed to a settlement of the bank's business. Barrett & Co.'s show gave two exhibitions, Friday afternoon and evening, to a large crowd of people.

2. May 10, 1882 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, May 10, 1882

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Article Text

Washington, Pa., Notes. WASHINGTON, PA., May 9.-Gen. John Hall, recently appointed receiver of the Washington savings bank, is closing out the business of the institution as fast as possible. He advertises at public sale the banking house and three Washington county farms. Yesterday Mrs. Kate Wishart McAdams died at the residence of her husband, D. J. McAdam, a professor in Washington and Jefferson College. She was about 25 years of age. The exercises at the college have been suspended until after the funeral. She was a daughter of Captain Alexander Wishart.

3. June 3, 1882 Wheeling Register Wheeling, WV
Article from Wheeling Register, June 3, 1882

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LITTLE WASHINGTON. Selling Bank Stock. Special Dispatch to the Register. WASHINGTON PA., June 2.-This fore. noon ex-Marshal John Hall, receiver of the Washington Savings Bank, sold at public sale the building owned and occupied by the bank, for $9,600. This afternoon two farms, near town, property of the bank, and each containing one hundred and fifteen acres, were sold, one for $91 per acre, and the oiher for $90 per acre. James W. Kuntz, President of the bank was the purchaser of the three, and paid a fair price for them. Another farm, in Carroll township, will be sold on next TuesA. day.

4. June 16, 1882 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, June 16, 1882

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THE WASHINGTON SAVINGS BANK. A Partial Hearing in the Conspiracy Cases Held. Special Dispatch to the Intelligencer. WASHINGTON, PA., June 15.-The case of commonwealth vs. R. J. S. Thompson and Samuel Ruth, for conspiracy to defraud the Washington Savings Bank, was given a partial hearing before the grand jury, but postponed. The defense have asked for a continuance till next term of court on the ground that they desirea bill of particulars. The prosecution desire to go ahead with the case. The motion to continue has not yet been granted. General John Hall, receiver of the defanct bank, has sold all the real estate, and is, as rapidly as possible, converting the assets into cash. The amount of the deficiency will reach $160,000. The stockholders have already been called on for $40 per share, the par value of which is $50. While Ruth's testimony nt the hearing was very damaging to Dr. Thompson, many people do not believe that he is criminally connected with the affair. Fearing that the prosecuting attorney would have more than he could handle with the case, the Achesons have been employed for the prosecution. Boyd Crumrine is Thompson's attorney. The case, from its magnitude, has attracted unusual and widespread interest. +++

5. August 19, 1882 Wheeling Register Wheeling, WV
Article from Wheeling Register, August 19, 1882

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Article Text

LITTLE WASHINGTON. Narrow Guage Road-A Big Suit-Political-Another Elopement. Special to the Register. WASHINGTON, Pa., August 18.-Messrs. L. E. Tennant, W. L. Hoffecker. and W. C. Mobley, of the Pittsburg and Western Railroad. came over the Pittsburg Southern yesterday and passed over the Waynesburg and Washington on a tour of inspection of both roads. It is reported that they are trying to effect a union of all the narrow gauge roads in western Pennsylvania. General John Hall, receiver of the Washington savings bank, has brought suit against Samuel Rutt, the defaulting cashier, and Alexander Rutt, Samuel McNinch, and S. A. Noble, his bondsmen, claiming damages of $100,000. The action is based upon the bond of the cashier. John C. Asbury. a colored student of Washington and Jefferson College, has been appointed to a $900 clerkship in the Pension Bureau at Washington city. The conferees of the Senatorial and Con. gressional districts, to which Washington county belongs, had another conference at Pittsburgb, yesterday, but with no definite result, as each county belonging to the district presented a candidate for each office. Another sensation has come to light. This time it is in the shape of an elopement. Some months ago a young man from Cincinnati, named Robert Logan alias Harry Horn. arrived here and made the arquaintance of a young miss of 16. named Ella Wolf. He returned to Washington a few days ago and met her frequently. and they finally left on the cars. Itis supposed that they have been married and started for Cincinnati, as he appeared to have plenty of money.

6. September 9, 1882 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, September 9, 1882

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Article Text

A Bank Defaulter. WASHINGTON, Penn., Sept. 8. N. Baker, an expert appointed to overhaul the books of the Washington Savings Bank, has made his report to the receiver. and fixes the defalcation at little less than $120,000. Ruth, the defaulter, acknowledges getting away with $60,000, leaving balance of $40,000 not accounted for. The bank cases will probably come up for trial next week.

7. January 21, 1883 Daily Globe Saint Paul, MN
Article from Daily Globe, January 21, 1883

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Article Text

EXAMINING BANK-BREAKERS. PITTSBURG, Jan. 20.-A Washington, Pa., special says Samuel Ruth, defaulting cashier, had a hearing to-day on two charges of forgery and two of larceny. W. A. Mickey, a stockholder of the Washingt on Savings bank, was the prosecutor. Jam es W. Kurtz, president of the bank, testified that Ruth was discharged in April last on his acknowledgement of defrauding the institution. Frank Gobby testified that he deposited $1,000 with Ruth, and Samuel Workman, clerk, swore that the books of the bank showed evidence of the money having been received, John Hall, receiver, testified that his first statement showed a deficiency of $146,000, but some assets would made the defaication less. Ruth was then held by the court in $6,000 bail.

8. January 21, 1883 Wheeling Sunday Register Wheeling, WV
Article from Wheeling Sunday Register, January 21, 1883

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Article Text

RUTH'S RACKET, Hearing of the Washington Defaulting Cashier. Special Dispatch to the Sunday Register. WASHINGTON, PA., January 20.-Samuel Ruth, defaulting bank cashier, had a hearing to-day on two charges of forgery and two of larceny. W. A. Mickey, a stockholder of the Washington Savings Bank, Prosecutor James W. Kurtz, and the Presinent of the bank testified that Ruth was discharged in April on his acknowledgment of defrauding the institution. F. Gobby testified that he deposited $1.000 with Ruth and Samuel Workmen. The clerk swore that the books of the bank showed no evidence of money having been received. John Hall, receiver. testified his first state. ment showed a deficiency of $146,000, but that there were some assets that would make the defalcation less. Ruth was then held over for court at $6,000 bail.

9. January 21, 1883 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN
Article from Memphis Daily Appeal, January 21, 1883

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Ruth's Defalcation. WASHINGTON, PA., January 20.-Samuel Rutb, the defaulting cashier, had a hearing to-day on two charges of forgery and two of larceny. W. A. Mickey, a stockholder in the Washington Savings Bank, is prosecutor. James W. Kurtz, president of the bank, testified that Ruth was discharged in April last on his own acknowledgment of defraudirg the institution. Frank Gobby testified that he deposited $1000 with Ruth, and Samuel Workman, a clerk, swore that the books of the bank showed no evidence of the money having been received. John Hall, receiver, testified that his first statement showed a deficiency of $146,000, but some of the assets would make the defalcation less. Ruth was then held for court in $6000 bail.

10. January 21, 1883 New-York Tribune New York, NY
Article from New-York Tribune, January 21, 1883

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A DEFAULTING CASHIE ARRAIGNED. PITTSBURG, Penn., Jan. 20.-A dispatch from Washington, Penn., says Samuel Ruth, the defaulting cashier of the Washington Savings Bank, had a hearing to-day on two charges of forgery and two of larceny. W. A. Mickey, a stockholder of the bank, was the prosecutor. James W. Kurtz, president of the bank, testified th it Ruth was discharged in April last on his own acknowledgment of having defrauded the institution. Francis Gioby testified that he had deposited $1,000 with Ruth, and Samuel Worknfan, a clerk in the bank, declared that the books of the bank showed no evidence of the money having been received. John Hall, receiver, testified that his first statement showed the defleit to be $146,000, but that some assets would make the amount of the defalcation less. Ruth was then held in $6,000 bail for his appearance in court.

11. March 18, 1883 Daily Globe Saint Paul, MN
Article from Daily Globe, March 18, 1883

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CRIME RECORD. DEFAULTING CASHIER FOUND GUILTY. PITTSBURG, Pa., March 17.-The case of the commonwealth against Sam Ruth, de faulting cashier of the Washington Savings bank, at Washington, Pa., was given to the jury at 11 o'clock this morning, and at 2 o'clock this afternoon they returned a verdict of guilty. A motion in arrest of judgment was then made. The charges against Ruth were forgery and larceny, by employer. On April 11, 1882, the bank was compelled to suspend on account of his defalcation. After the suspension, it was found that his accounts were over $100,000 in arrears. He confessed to having taken the money. He said his ruin was caused by grain speculation. Upon investigation it was found that for two years prior to the discovery, he had been speculating in "the bank's money, and that during that time he had received large amounts from depositors, which he gave certificates for, pocketed the money and made no entry. The bank ordered an assessment, but A. McKey, stockholder, refused to pay his amount, and made information against Ruth, charging embezzlement, forgery and with making false returns to the United States internal revenue department. MADE IT UP. ATLANTA, Ga., March 17.-The difficulty between Col. M. E. Thornton and J. H. Norwood, was amicably adjusted to-day. They deny that pistols were drawn. DISCOVERED AND ARRESTED. PHILADELPHIA, March 17.-Holmes B. Kelly, of Philadelphia and Jas. Howard, of New York city, were arrested to-day for being concerned in issuing $100,000 forged bonds of the Albany & Susquehannah road ROBBED HIS WIFE. SALT LAKE, March 17.-A. S. Hill has decamped with $10,000 belonging to his wife, and officers are on his trail. He came to Salt Lake from the East a few years ago and married a widow here. ABORTIONIST ARRESTED. NEW York, March 17.-Wm. H. May, a physician in this city, was arrested to-day, charged with abortion. Dr. Margaret Miller reported to the police she had been called to attend Frances Seatter, a single woman twenty-three years old, and found the girl to be suffering from abortion. The latter being told that she was seriously ill, admitted an operation had been performed by Dr. May.

12. March 19, 1883 Savannah Morning News Savannah, GA
Article from Savannah Morning News, March 19, 1883

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A Defalting Cashier Sentenced. PITTSBURG, March 17,-Sam Ruth, the defaulting cashier of the Washington Savings Bank, of W ashington, Pa., was to-day found guilty of forgery and larceny. His accounts were over $100,000 in arrears, and the bank suspended April 11, 1882.

13. March 19, 1883 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, March 19, 1883

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Conviction of a Cashier. PITTSBURG, March 17.-The case of the Commonwealth against Samuel Ruth. defaulting cashier of the Washington Savings Bank, Washington, Pa., was given to the jury at 11 this morning, and at 2 this afternoon they returned a verdict of guilty. A motion in arrest of judgment was then made. The charges against Ruth were forgery and larceny by an employe. On April 11, 1882, the bank was compelled to suspend on account of his defalcation. After suspension it was found that his accounts were over $100,000 in arrears, He confessed to having taken the money, and said his ruin was caused by grain speculation. Upon investigation it was found that for two years prior to the discovery he had been speculating on the bank's money, and that during that time he had received large amounts from depositors, which he gave certificates for, pocketed the money and made no entry. The bank ordered an assessment, but A. Mickey, stockholder, refused to pay his amount and made information against Ruth, charging embezzlement, forgery and with making false returns to the United States Internal Revenue department.

14. March 19, 1883 Daily Globe Saint Paul, MN
Article from Daily Globe, March 19, 1883

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CRIME RECORD. DEFAULTING CASHIER FOUND GUILTY. PITTSBURG, Pa., March 17.-The case of the commonwealth against Sam Ruth, de faulting cashier of the Washington Savings bank, at Washington, Pa., was given to the jury at 11 o'clock this morning, and at 2 o'clock this afternoon they returned a verdict of guilty. A motion in arrest of judgment was then made. The charges against Ruth were forgery and larceny, by employer. On April 11, 1882, the bank was compelled to suspend on account of his defalcation. After the suspension, it was found that his accounts were over $100,000 in arrears. He confessed to having taken the money. He said his ruin was caused by grain speculation. Upon investigation it was found that for two years prior to the discovery, he had been speculating in "the bank's money. and that during that time he had received large amounts from depositors, which he gave certificates for, pocketed the money and made no entry. The bank ordered an assessment, but A. McKey, stockholder, refused to pay his amount, and made information against Ruth, charging embezzlement, forgery and with making false returns to the United States internal revenue department. MADE IT UP. ATLANTA, Ga., March 17.-The difficulty between Col. M. E. Thornton and J. H. Norwood, was amicably adjusted to-day. They deny that pistols were drawn. DISCOVERED AND ARRESTED. PHILADELPHIA, March 17.-Holmes B. Kelly, of Philadelphia and Jas. Howard, of New York city, were arrested to-day for being concerned in issuing $100,000 forged bonds of the Albany & Susquehannah road ROBBED HIS WIFE. SALT LAKE, March 17.-A. S. Hill has decamped with $10,000 belonging to his wife, and officers are on his trail. He came to Salt Lake from the East a few years ago and married a widow here. ABORTIONIST ARRESTED. NEW YORK, March 17.-Wm. H, May, a physician in this city, was arrested to-day, charged with abortion. Dr. Maigaret Miller reported to the police she had been called to attend Frances Seatter, a single woman twenty-three years old, and found the girl to be suffering from abortion. The latter being told that she was seriously ill, admitted an operation had been performed by Dr. May.