Penn Bank (Pittsburg, PA)

Episode Information

Episode UID
2456954691013
Episode Type
Run → Suspension → Closure
Bank Type
trust
Bank ID
245695469 hash
Start Date
May 21, 1884
Location
Pittsburg, Pennsylvania (40.441, -79.996)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
ab0fa7dd909bb5c5

Response Measures

None

Description

OCR variants of President Riddle's name (Riddel) appear; initial suspension attributed to rumors but later disclosures show heavy oil speculation and shortages.

Events (5)
1. May 21, 1884 Run
Cause
Rumor Or Misinformation
Cause Details
Runs attributed to unfounded reports and rumors after Petroleum Exchange clearances were moved from the Penn Bank.
Measures
Posted notice of suspension; officers and police placed at doors.
Newspaper Excerpt
Owing to a continued run for several days we have decided it wise ... to suspend payment for the present.
Source
newspapers
2. May 21, 1884 Suspension
Cause
Rumor Or Misinformation
Cause Details
Board suspended payments after sustained withdrawals driven by rumors about oil dealings and alleged overdrafts.
Newspaper Excerpt
closed its doors at 12:30 this afternoon and posted notice to suspend payment.
Source
newspapers
3. May 23, 1884 Reopening
Newspaper Excerpt
The doors of the Penn Bank were thrown open at half-past 2. The bank was crowded ... deposits to-day are said to have been $50,000 in excess of the amount withdrawn. (May 23 report).
Source
newspapers
4. May 26, 1884 Run
Cause
Bank Specific Adverse Info
Cause Details
Second collapse followed revelations of heavy overdrafts, missing securities, and sudden illness of President Riddle that demoralized confidence.
Measures
Bank closed again and officers placed in charge; directors refused audiences.
Newspaper Excerpt
It is said, however, that there has been a heavy run on the bank this morning.
Source
newspapers
5. May 29, 1884 Receivership
Newspaper Excerpt
Henry Warner, assignee of the Penn Bank, has taken charge ... the deficiency ... will reach fully $1,250,000. (May 29 reports).
Source
newspapers

Newspaper Articles (23)
1. May 22, 1884 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, May 22, 1884

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THE BIG PENN BANK nd OF PITTSBURGH, PA., SUSPENDS, 1st Owing to a Three Days' Steady Ran-Statement a. of the President of the Institution-The Cause of the Huspension- Speculation Denied. pg The Concern to Resume Again Soon. ag PITTSBURGH, PA., May 21.-The Penn r bank of this city closed its doors at 12 or o'clock to-day, and posted the following on ts the doors. "Owing to A continued run for several days we have decided it wise for it our depositors and others concerned to BUSas pend payment for the present." There is great excitement and a large crowd surg rounds the bank. Officers have been placed at the doora. William N. Riddle; the President of the Penn bank, which has been doing the largest businees of any bank in Pittaburgh, got up from a sick bed this morning. He has been prostrated from hemorrhages and is now at the bank. PRESIDENT RIDDLE'S STATEMENT. President Riddle to night made the following statement to the Associated Press: "The Board of Directors met this afternoon, and began an examination into the affairs of the bank. Their examination justifies them in the statement the can, as matters now dollar bank and myself stand, pay that on and We offera of have for dollar received the deposits Resistance stock. from many sources. Our largest faith in the its the most gratifying and ability depositors how bank, resources to meet its debts, and no to cause action. On the they trouble evince by hasty disposition contrary us any many have offered to double the deposits now held by the bank. Other aid has been offeredfin order that we As to of the Board the decide acceptance later. may this myself, sume. will (As to per. sonally, I have no fear of my own deposits and stock, and as I am the am nz to largest-depositor-and.stockholder will not only let bothstand where I they are, but I am also willing and ready to more to amount. am to use add willtng the any collateral To do I have." this Mr. Riddle refused to give any statement of the liabilities or assets. ASSETS AND LIABILITIES. From an outside source it was learned that the liabilities will rot exceed one million and a half, and that the assets will more than cover this. The only question is the time to realize. The Bank is credited oil denied. with heavy speculation, but this is The direct is rumors out the beclearances attributed of to petroleum, cause growing exchanges of the trouble of the ing taken away from the bank which up to a few days ago was the clearing house of the exchange. The change was made several days ago, and the business transferred to the Farmers' Deposit National rise to was or to a Bank. Bank has This in gave trouble likely rumors be, that and the run been going on quietly for several days. The suspended bank was the depository of but at the the the Orphans' Court, present time deposits amount to but a few dollara. The bank was at one time a personal liability bank, but is not now, 88 it has of a liberal charter terms of which it availed by the itself the very is authorized State to carry on banking, insurance, real estate improvement and other business. THE FEELING LAST NIGHT. The feeling to-night is uneasy, and it is feared that runs will be made on several banks to-morrow. President Harper says he does not think the banks of Pittsburgh in an unstable condition, at least the showing of all those in the Clearing-house are excellent, and has not the least feeling of insecurity in regard to them. THE BANK ALL RIGHT. A meeting of the bankers was held this evening, at which the Penn Bank submitted a statement of its condition, which was carefully examined, and convinced all present that the bank was entirely solvent. It was to thereupon agreed supply suflicient to off its It was deemed money unadvisable pay to liabilities. resume to. morrow morning, but it is expected the necessary formalities can be completed during the day, and the bank be enabled to resume businees on Friday.

2. May 22, 1884 The Democratic Leader Cheyenne, WY
Article from The Democratic Leader, May 22, 1884

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Telegraphic Information From Over the Country. The Penn Bank, of Pittsburg, Closes Its Doors, But Will Settle With Creditors Dollar for Dollar. The Penn Bank Suspended. PITTSBURG. May 21.-The Penn bank, of this city, closed its doors at 12:30 this afternoon, and posted the following on its doors: "Owing to a / 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 large crowds surround the bank. Police have been placed at the doors. William N. Riddle, president ef the Penn bank, which was doing the largest business of any bank in Pittsburg, got up from a sick bed this morning, having been prostrated from hemorrhage, and is now at the bank. Following is the statement he made for an Associated Press representative: "I have nothing to say as to details now, but am here to face the music, and do my duty. Owing to unfounded reports made current by interested and malicious persons there has been a run on us for several days, and our deposits have been decreased from $500,000 to $700,000 in five days. We therefore deemed it wise to take the action now done. Further, I have nothing to say, except that I am individually the largest loser, having the largest deposits and the largest amount of stock in the bank." It is said that rumors set afloat by interested parties that the Pennsylvania bank and two other banks have been allowing oil brokers to overdraw their accounts, and the result was the run. One of the stockholders of the Pennsylvania bank says: "The suspended institution is entirely solvent, and will pay every doilar of debt on deposit, Capital stock $200,000." President Riddle to-night made the following official statement to the Associated Press: "The board of directors met this afternoon and began examination into the affairs of the bank. Their examination justifies them and myself in the statement that the bank can, as matters now stand, pay dollar for dollar on deposits and stock.'

3. May 22, 1884 Savannah Morning News Savannah, GA
Article from Savannah Morning News, May 22, 1884

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MARKETS BY TELEGRAPH. FINANCIAL. LONDON, May 21.-Consols, 1013/8 for money; 101½ for account. NEW YORK. May 21, noon.-Stocks weak. Money, 6 per cent. per annum. Exchangelong, $4 83@4 84; short, $4 84½4 85½, State bonds quiet. Government bonds firmer. 5:00 p. m.-Exchange, $488. Money, 2½3 per cent. Sub-Treasury balances-Gold, $128,379,000: currency, $10,255,000. Government bonds closed irregular; four per cents, 120½; three per cents. 99½. State bonds quiet. Share speculation to-day was exceedingly erratic. At times the market was positively strong, and again at intervals there were periods of depression. During the morning there were rumors afloat that certain large houses were in trouble, and that their suspension was likely. Subsequently the failure of a small stock concern was made public, but no other suspensions were announced. The market opened irregular but lower, and then advanced 1/4@1 per cent. Northwest sold up 1, St. Paul 3/4, Louisville and Nashville 3/4, Lake Shore ½,2, Missouri Pacific 3/4, and Pacific Mail % per cent. A vigorous attack was afterwards made on coal shares, and round amounts of long stock was shaken out. New Jersey Central broke 5, Reading 23/8, and Lackawanna 2½ per cent. Shares were depressed on reports that the question of curtailment of production during June would probably result in the disruption of the coal combination. Reading and New Jersey Central were also affected by the issuance of scrip by the former company. The general market declined sharply in sympathy with the break in anthracite coal shares, Canada Southern dropped 1½ Northwest 1½, St, Paul 23/4, Louisville and Nashville 1½ Lake Shore 13/4, Missouri Picific 2½ New York Central 1, Northern Pacific preferred 23/49 Oregon Transcontinental 11/4, Pacific Mail 1, Union Pacific 11/2, and Western Union 15/8 per cent. The last mentioned became strong, rising 23/8 per cent., and this changed the temper of speculation. A sharp demand set in for all active stocks, prices moving up 11/2021/2 per cent. In the afternoon the failure of the Penn Bank of Pittsburg was reported, and this occasioned a fresh selling movement. It was also rumored that an instiution at Philadelphia was in trouble, Reading dropped to 29,

4. May 22, 1884 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, May 22, 1884

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Total $2,486,066.11 A meeting of assessed banks was held this afternoon to take measures for sustaining all banks, similar to the action taken in New York. Wm. E. Schmertz, president of the Third National, said he had seen the balance sheets of the Penn Bank, and thought they would be able to pay all debts; that the bank was solvent. The other banks he regarded as strong enough to stand a crisis. They would stand by each other as they did in New York. Mr. Schmertz reflects the views of a large number of the most prominent bankers in regard to the solvency of the suspended institution. STATEMENT BY PRESIDENT RIDDLE. President Riddle, to-night, made the following official statement to an Associated Press reporter: "The board of directors met this afternoon and began an examination into the affairs of the bank. Their examination justifies them and myself in the statement that the bank can, as matters now stand, pay dollar for dollar on its deposits and stock. We have received offers of assistance from many sources, our largest depositors show a most gratifying faith in the bank and its resources and ability to meet its debts, and they evince no disposition to cause us any trouble by hasty action. On the contrary, many have offered to double the deposits now held by the bank. Other aid has been offered, in order that we may resume. As to acceptance of this, the board will decide later. As to myself, personally, I have no fear for my own deposits and stock, and as I am the largest depositor and stockholder, I am willing not only to let both stand where they are, but also willing and ready to add more to the amount. and to do this I am willing to use any collateral I have." Mr. Riddle refused to give any statement of liabilities or assets, but from outside sources it was learned that the liabilities will not exceed $1,500,000, and the assets more than cover this. The only question is, is there time to realize? The bank is credited with heavy oil speculation. but this 1S denied. The directors say the trouble is to be attributed to rumors growing out of the clearances of the Petroleum Exchange being taken away from the Penn Bank, which, up to a few days since, was the clearing-house of the exchange. The change was made several days ago, and the business was transferred to the Farmers' Deposit National. This gave rise to rumors that the bank was in trouble, or likely to be, and a run has been going on quietly for several days. The suspended bank was a depository for the Orphans' Court, but at the present time these deposits amount to but a few dollars. The bank was at one time a personal liability bank, but is not now, as it has availed itself of the very liberal State charter by the terms of which it is authorized to carry on banking, insurance, real estate improvement, and other business. The feeling to-night is uneasy, and it is feared that runs will be made on several banks to-morrow. President Harper says he does not think the banks of Pittsburg in an unstable condition. At the last showing. all were in excellent condition; he has not the least feeling of unsecurity in regard to them. A meeting of bankers was held this evening, at which the Penn Bank submitted a statement of its condition, which was carefully examined, and convinced all present that the bank was entirely solvent. It was, therefore, agreed to supply sufficient money to pay off its liabilities. It was deemed unadvisable to resume to-morrow morning, but it is expected the necessary formalities can be completed during the day, and the band will be enabled to resume business on Friday.

5. May 23, 1884 Fort Worth Daily Gazette Fort Worth, TX
Article from Fort Worth Daily Gazette, May 23, 1884

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THE FAILED FIRMS. sum Struggling to Grasp the Rock of Financial Salvation. Resumption and Compromise-Others Gone Down into the Whirlpool. THE PENN BANK. PITTSBURG, May 22-A more complete understanding of the exact con dition of the Penn bank and a feeling that they will be able to pay all liabilities, together with the concerted action of the bankers last night, has a reassuring effect, and confidence to a large extent has bee restored. It WAS feared that there would be runs on several banks which were reported on the street last night as in a weak condition, but a visit to the alleged shaky institutions at noon found all serene, with the checking out not much greator than usual. Bankers express themselves as perfectly able to meet demands made on them. The officials of the Penn bank are busy to-day getting aftiairs in shape for resumption to-morrow. Their demands were made good to-day, and to-morrow they will open their doors with $600,000 in cash on the counters. Many of the largest depositors have signified their intention of allowing their money to lie in bank, and long before the regular hour for opening this morning, a number of the heaviest depositors forced their way to the side entrance and Insisted on making deposits, which the bank refused to accept, however, until they resume to-morrow.

6. May 24, 1884 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, May 24, 1884

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The Penn Bank Resumes Payment. PITTSBURG, May 23.-The doors of the Penn Bank were thrown open at half-past 2. The bank was crowded, but there were nearly as many depositors as people drawing out. The doors were kept open until 5 o'clock inorder to satisfy all demands. Long before that hour the run had ceased, and it is expected when the bank opens to-morrow the. scare will be over and business proceed the same as before the suspension. The deposits to-day are said to have been $50,000 in excess of the amount withdrawn. Officials of the bank are preparing evidence, and in a few days will bring suit againt several prominent business men for maliciously circulating the rumors which caused the run on the bank and compelled suspension.

7. May 27, 1884 Fort Worth Daily Gazette Fort Worth, TX
Article from Fort Worth Daily Gazette, May 27, 1884

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FORTUNE'S WRECKS. The Penn Bank Again Closed-New and Old Failures-Freaks of the Fickle Goddess. THE PENN BANK CLOSED AGAIN. PITTSBURG, May 26.-The Penn bank closed its doors again at 12 o'clock to-day and posted the following notice on the door: "Mr. Riddel, the president and chief executive officer of the bank, having become suddenly and dangerously ill and unable to cemmunicate 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." Officers placed in charge refuse to permit audience with any of the board. There is great excitement. President Riddel appeared in his usual health at 10 o'clock this morning, but half an hour later was prostrated by hemorrhage of the lungs. Since then he has had three repetitions thereof, and is lying at the Duquesne club rooms unconscious, with only a slight hope of recovery. Close friends of Mr. Riddel are unable to give an explanation of the sudden turn of affairs. It is said, however, that there has been a heavy run on the bank this morning. According to a statement of the directors the bank had raised $931,000 to pay its liabilities. The cause of Riddel's Illness is an over dose of morphia or chloroform taken this morning.

8. May 29, 1884 The Austin Weekly Statesman Austin, TX
Article from The Austin Weekly Statesman, May 29, 1884

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THE PENN BANK. The Books Examined, and a Statement Made. PITTSBURG, May 27.-The affairs of the Penn bank continue to be the engrossing subject among all classes, but up to noon there was as little definitely known as up to the time of closing yesterday. President Riddle slept fairly well last night, and this morning had sufficiently recovered to enable his friends to remove him to his residence. Mr. D. A. Steward, the well-known and experienced banker, made a careful examination of the books last night, and every opportunity was given him to make an officical examination. According to statements current, the books show that $300,000 were drawn out by depositors from the time of resumption, on Friday, until the close of yesterdy, and deposits decreased correspondingly. The statement that $400,000 were not included in the statement made to the asssociation of banks is incorrect. No such checks are existing. In their opinion, if the books are correct, the bank ought to pay every cent of its debt. There is less talk of crookedness, and the impression is growing that the second suspension was due wholly to timidity and demoralization when President Riddle was suddenly prostrated. The directors have not yet made a statement, but there is a general demand for something authentic from them of the bank's actual condition. The general condition of other banks is unchanged.r PITTSBURG, May 27.-The directors of the First national bank took possession of the individual book accounts of the concern, and up to one o'clock, had struck developments which promise to show why the sec"ond collapse came SO suddenly. There is among the accounts one of the firm of D. Wilson & Co., which shows over checking to the extent of $24,000. No such firm is known in this city, and it is supposed to represent the accounts of a number of persons lately operating on the wrong side of the oil market, have been allowed to drain it to the extent named. A director who furnished the information states further, that the account of a prominent oil dealer had been overdrawn $97,000. These two amounts represent overdrafs of $33 000, or $7,000 in excess of the entire capital and surplus. The bank directors have appointed a committee to employ an expert to go over the books and report as speedily as possible.

9. May 30, 1884 Savannah Morning News Savannah, GA
Article from Savannah Morning News, May 30, 1884

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ROBBED RIGHT AND LEFT. The Disclosures in the Penn Bank Case Growing Worse and Worse. PITTSBURG, May 29.-Henry Warner, assignee of the Penn Bank, has taken charge and discharged all the clerks. He will begin work at once, but says that it will require two weeks, and possibly thirty days, before an exact statement of the condition of affairs can be made. The deficiency, it is believed, will reach fully $1,250,000. It is said that of $40,000 which were known to be on the counter when the bank closed, only $4,000 were turned over to the assignee. Great shortage in the securities is also reported since Saturday, and bonds, stocks and other collaterals in the bank at the time of the suspension are said to be missing. President Riddle is still confined at home. He has issued a card asking his friends to withhold judgment until he is able to make his statement. William Riddle has confessed another judgment for $82,400 in favor of F. B. Laughlin. This judgment will follow the one confessed on Tuesday night.

10. May 30, 1884 New-York Tribune New York, NY
Article from New-York Tribune, May 30, 1884

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PENN BANK IN A RECEIVER'S HANDS. ANOTHER JUDGMENT CONFESSED BY RIDDLEBEAL'S STATEMENT. PITTSBURG, May 29.-Henry Warner, assignee of the Penn Bank, has taken charge, and has discharged the clerks. He will begin work at once, but says that it will be two weeks and possibly thirty days before a statement of the exact condition of affairs can be made. The deficiency, it 18 believed, will reach fully $1,250,000 It is said that of $40,000 known to have been on the counter when the bank closed, only $4,000 was turned over to the assignee. A great shortage of securities is also reported since Saturday, and bonds, stocks and other collaterals in the bank at the time of the suspension are said to be missing. President Riddle is still confined to his home. He has issued a card asking his friends to withhold their judgment until he is able to make a statement. He has confessed another judgment for $82,400 in favor of F. B. Laughlin This judgmeut will follow the one confessed on Tuesday night. John P. Beai, the oil broker for the Penn Bank, made a statement to Receiver Warner this afternoon in regard to the oil speculations of the suspended institution. He admitted that he was a representative of a blind pool operated last summer. The pool was composed of men from New-York, Philadelphia, Chicago, Pittsburg, and other cities. Their usual course was to buy heavily when they wanted an advance, or sell when it was necessary to have a decline. From another man it was learned that the pool was conceived by Riddle, who, after his friends had approved his plans, went to New-York and negotiated a loan of $2,000,000. Oil was forced from 90 to 124% when the Standard Oil Company interfered, and despite every effort of the syndicate the market collapsed and the pool was finally compelled to seil at 98, losing heavily. From that time to this the Penn Bank people have been taking desperate chances in the cil market 10 win back enough money to repair the bank's losses, but became more involved all the time. The depositors had a consultation to-day and talked of proceedings against the bank officers and directors for conspiracy.

11. June 3, 1884 Savannah Morning News Savannah, GA
Article from Savannah Morning News, June 3, 1884

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THE PENN BANK'S RUIN. RIDDLE SAYS THE DIRECTORS ARE A PACK OF RASCALS. They Deny the Soft ImpeachmentThe President's Story Puts Them in a Very Bad Light With the Public, However-More Light on the Advantage Taken of the Resumption. PITTSBURG, June 2.-President Riddle, of the Penn Bank, has published a long statement, in which he says that all of his transactions as President, for which he is now condemned, were made by and with the consent, assistance and participation of four of the directors, whom he names, and the Vice President and Cashier, and that the entire board was fully cognizant of what was going on. He says that before he became President of the bank it had netted heavy losses by carrying oil for speculators; that after he became President he and the other officers determined to speculate benefit the for in oil of the bank for the purpose of recouping its losses; that the fictitious accounts found in the books were the accounts of these speculations; that at different times when he was absent for periods on account of sickness the officers of the bank carried on this business, and at the same time speculated on their individual account through the bank. He names as the directors whom he consulted before he went into this business J. B. Loughlin, J. O. Brown, A. M. Cayett, and Maj. Swearingen, and these also speculated on their own account. Among others who had knowledge of the actual condition of affairs, and who speculated upon information gained through the bank, was e its attorney. Mr. Watson, the broker who was arrested in Jersey City, was aware of the condition of the bank, but his transactions were for the benefit of the bank. THE DIRECTORS WELL INFORMED. President Riddle says that some of these fictitious accounts have been on the books over a year; that the condition of the bank was known to the directors two or three years ago, and that the entire board was present at the last audit of the books, and that the whole business was under discussion when the accounts were audited. It was found that all the directors but three had borrowed from the bank till the amount thus loaned exceeded the capital and surplus of the bank. While President Riddle was preparing the notice of the suspension, Director J. O. Brown went in by the back way and drew a good portion of his balance in currency, and Mr. Swearingen, another director, endeavored to secure a check he had deposited or its equivalent in money. He also described how during his illness the bank was plundered by those who should have protected it, and how it was gulled by these men during its temporary resumption after the first failure. It would appear from his account that this temporary suspension had for its principal object to enable the directors and others in the ring to secure from the bank cash and collateral to protect themselves from loss in the crash which was bound to follow. His story is very long and circumstantial, though a little dis jointed at times. The statement has created excitement, and the newspaper offices have been surrounded by people of all classes, who jostled and crowded each other in their eagerness to obtain copies of the papers. The directors implicated indignantly deny the allegations made, but Riddle claims that the books now in the hands of the assignee will fully corroborate his statement. Riddle is much worse to-day, and physicians fear more hemorrhages. THE DIRECTORS PUT IN A DENIAL. PITTSBURG, June 2, 10 P. M.-The official statement of the directors of the Penn Bank, made to-night, characterizes President Riddle's allegations as false in every particular. They assert they knew nothing of the oil speculations until after the bank had suspended. The hearings in the cases of Cashier Reiber and Thos. J. Watson have been postponed until next Monday.

12. June 3, 1884 The Dallas Daily Herald Dallas, TX
Article from The Dallas Daily Herald, June 3, 1884

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Indignant Denial. P.TT-BURG, PA, June 2 -an -- official sta'e ment of the Penn bank directors WAS made to-night. It characterizes Riddle's allegations as false in every particular. They sesert they know norbing of said speculation notil after the bank had suspended. The hearing of Cashiar Reiber and Thomas J. Watson has been postponed till Monday.

13. June 4, 1884 Connecticut Western News North Canaan, Salisbury, Canaan, CT
Article from Connecticut Western News, June 4, 1884

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The New York Panic. A warrant for the arrest of John C. Eno, the former president of the Second National Bank, was issued by United States Commissioner Shields Saturday morning at the request of District-Attorney Root Mr. James D. Fish, President of the Marine National Bank, was arrested Saturday evening in his rooms in the Mystic flats. The warrant was issued by United States Commissioner Shields on an affidavit sworn to by Bank Examiner Seriba. The warrant charges Mr. Fish with "unlawfully misapplying certain sums of money to the amount of $1,400,000 of the moneys and funds of the Marine National Banking Association to his own use, benefit, and advantage, with intent to injure and defraud such association." Hinckley, the cashier of the West Side Bank, who absconded wtih over $90,000 of the bank's funds, has not yet been arrested. The official examination of the bank's condition shows that it is solvent, although it was forced to close by the refusal of banks to clear its paper. It will soon resume. The Hot Springs National Bank of Hot Springs, Ark., has suspended, the Presid nt having decamped with the available funds. Strong's bank at Green Bay, Wis., has suspended, caused by the failure of other banks with which it did business. The depositors will not meet with much loss. The liabilities are about $340,000. The available assets amount to about $350,000. General Grant has, as yet, made no explanation of the letters he wrote Mr. Fi-h. One of the latter's lawyers says there are other letters from General Graut among Mr. Fish's papers. The expert accountant who is examining into the affairs of Grant & Ward, think< it will be impossible to make a correct statement of the firm's condition from its accounts, which are badly mixed. A receiver was appointed for the individual property of Ferdinand Ward. Marshals and detectives watch Mr. Eno's house day and night. but have failed to arrest him. The New York Heraid says there is a growing impression that the authorities are not very anxious to apprehend him. The swindle and robbery in the Penn Bank, of Pittsburg, is assuming astounding proportions, the amount of deficit being over $1,000,000. There is little left of the bank. The fugitive bank president from Hot Springs, Ark., ias been arrested, together with a woman, on a train.

14. June 8, 1884 Savannah Morning News Savannah, GA
Article from Savannah Morning News, June 8, 1884

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BRIGHT BITS. A GREAT many fashionable ladies are going to wear nothing this summer but black silk dresses and white dresses made with a good deal of lace and embroidery.-Päladelphia Times. "FERDINAND WARD'S father's greatest mistake was in not giving him a trade," observes a Boston paper. It is probable thatthe State will remedy this defect in his education.Daily Graphic. IF you will sit down and wait. yung man, at least one haff ov the good things ov life will at some time eddy around near yu, while the more yu chase them the more they will break into a run.-Josh Billings. THE Pittsburg Chronicle summarizes the Penn Bank failure in this fashion: "What the reporter asked, '-?-?-?-?' What the bank director answered, '-!-!-!-!-!' What the public learned, '-0-0-0-0.'' "WHAT 18 a liberal education?" asks Prof. Eliot of Harvard in the June Century. The average student seems to think that it consists entirely in having a liberal father and living next door to a boat house.-Burlington Free Press. THE father of five marriageable daughters was in town a few days ago trying to buy some four-leaf clover seed to plant in his back yard. He said he had read that when a young girl finds a four-leaf clover it is a sign that she will be married within a year.-Norristoron Herald. "You remind me of Barnum since he secured his white elephant," said a Brooklyn man to his wife, who never tired of talking. "Because he holds as sacred a priceless and peerless beauty?" she timidly and blushingly suggested. "Not quite," replied the wretch: "it's because he owns a Toung Toulong." That heartless husband no longer carries a night-key.-New York Morning Journal. MAN that is married to a woman is of many days and full of trouble. In the morning he draws his salary, and in the evening Behold, it is gone! It is a tale that is told; It is vanished, and no man knows whither it goeth. He riseth up clothed in the chilly garments Of the night And seeketh the somnolent paregoric Wherewith to soothe his infant posterity. He cometh as a horse or OX And draweth the chariot of his offspring. He spendeth his shekels in the purchase of fine linen To cover the bosom of his Family; Yet himself 18 seen at the gates of the city With one suspender. Yea, he is altogether wretched. -Philadelphia News.

15. June 12, 1884 The Bolivar Bulletin Bolivar, TN
Article from The Bolivar Bulletin, June 12, 1884

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NEWS IN BRIEF. Compiled from Various Sources. CONGRESSIONAL PROCEEDINGS. the THE Senate was not in session on 31st The House had but short A bill was passe the law of 1867 in matter of appeals from Circuit Courts to United the States Court In habeas Bills also right th Indian Ter the Gulf. & Santa Fe and the Southern Kansas Companies IN the Senate on the 21 a mem orial ask ing for an appropriation of $25,000 in aid of the Industria was pre sented The louse relating to second persons other than also trade and the the supplies fixing for the The exempting mash the of brandy distilled from fruits motion to adjourn prevented action any In the Senate on the 31 sixty two bills the leave with following: right of way through Selden to the Pacific the Hays the Oregon for the THE not in on the 4th, Hite in the House, the of quorum. The Orezon land bill Com The passed Built report the the the meet ings held with doors. THE Senate not in on the 5th. but held The House the the Convention ab Chicago from ports sorbed too much attention to low legisla to tion extent great any forfeiture the bill; Railway Iron forfeiture Mountain land and Helena the con the Tean. the and at Kas PERSONAL AND POLITICAL (CHRISTOPHER DOYLE. the hero who saved 'fifteen' women and children from drowning at the time of the Tivoli disaster. near Baltimore, was drowned on the 1st while sailing in Curtis Creek. REV FATHER P. J. GLEASON, of St Louis, Mo., having been restored by the Propaganda at Rome to his pastoral functions, he will go to Denver to take charge of church. O'DONOVA N ROSSA asserts that the re cent London explosions are but the beginning of what may be expected in the near futur M L. BUNDY, of Newcastle, Ind., has been appointed receiver of the Hot Springs National Bank. POPE LEO IS much exercised over votes in the French Senate and House of Deputies granting and ing sem infarians liable to military ADJUTANT-GENERAL FINLEY, of Ohio, has disbanded the Fourth Regime ent of In fantry, Ohio National Guard, for ineffi ciency at the Cincinnati riots, and partial ly re-organized it as the Seventh R egiment under the of the officers who re ported for duty at the riots. IT is charged by President Riddle of the Penn Bank. Pittsburgh that the col lapse of the institution was due to the directors' connection with the oil pool. A JUDGMENT has been ob ained against Dr. J.H. McLean for legal rendered him in his contest for Colonel Broad head's.beat in Congress. THE Quebec authorities on the 2d dis charged from arrest John C. Eno, ex- Presi dent of the Second National Bank, New York, on account of a fatally de fective warrant, but he was rearrested and lodged in jail, JOHN STEW ART PARNELL President of the Irish National League of Ireland. sends to Sullivan, President of the American League, a letter of thanks for contributions from the United States, to be used in the approaching elections. JUDGE JAMES L WORDEN, of the Su perior Court at Fort Wayne, Ind., died on the night of the 2d, af er an illness of three His age was sixty -five. He Judge of the Suprem Court nineteen years, and was regarded as the ablest lawyer that bad ever graced the bench His mind was eminently judicial and his terse, compact and energetic sty le gave to opinions value rarely equaled. THE delegates from Oregon to the Na tional Democratic Convention were in structed for Tilden and Hendricks USCAR WILDE was married in London on "the 3d to Miss Lloyd. EMPEROR WILLIAM on the 3d signed an decreeing the Crown Prince of Germany President and Bismarck Vice President of the new Staat zrath. THE Stephens Monument Association has purchased Liberty Hall, the home of the late Alex. H. Stephens, of Georgia. its session in New Orleans R. H. Wit ter, of St. Louis, was elected President of International Typographical Union. THE delegates to the Georgia State Dem ocratic Convention are all known to be for Tilden. Three fourths of the counties so instruct THE Territorial Democratic delegates from Montana are for Tilden and Hendricks ON the 3d Henry Gillig, representative of the New Orleans Exposition, was banqueted at Berlin. Many Americans were present, including Minister Sargent. Hox JAMES G. BLAINE arrived at his home in Augusta, Me. on the 3d A publie reception was declined, but the people cheered him loudly as he passed through the streets THE National Republican Convention met and organized in Chicago on the 8d with Hon. John R. Ly nch, of Mississippi, temporary chairman. Committees were appointed and the convention adjourned until the 4th. ON the 5th Wm. H. Vanderbilt sailed from Liverpool for New York THE National Republi Convention at Chicago held two short sessions on the 4th General John B. Henderson, of St. Louis, Mo.. was elected permanent chairman and addressed the Convention. The Committee on Credentials not being ready to report

16. June 13, 1884 The Jasper Weekly Courier Jasper, IN
Article from The Jasper Weekly Courier, June 13, 1884

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J. F. HOYT, cashier of the Butler Sav600'553 s1 and "Rush assuy sig up saoes Ex-PRESIDENT Eso of the Second National Bank of New York, was arrested at returned eq pus *3*18 em no Pagend T to New York provided a hole big enough 02 em ⑉ punoj eq use get him through. CHRISTOPHER DOYLE. the hero whosaved fifteen women and children from drowning at the time of the Tiveli disaster, near 1ˢᵗ em no ренмолр SWAY sailing in Curtis Caeek. VICE-PRESIDENT John B. Carson, of the St. Joseph Railway, has been appointed General Manager of the Louisville, New et Albany & Chicago line. REV. FATHER P. J. GLEASON, of St. Louis, Mo., having been restored by the Propaganda at Rome to his pastoral funecharge the 01 Denner 01 08 IIIM eq "suon church . 20 O'DONOVAN ROSSA asserts that the recent London explosions are but the beginJuou the up pessedxe eq Aven the JO Suju future. ON the 2d statues of Garibaldi were unveiled in Italy, and the anniversary of his death celebrated. M. L. BUNDY, of Newcastle, Ind., has been appointed receiver of the Hot Springs Bank POPS LEO is much exercised over votes in the French Senate and House of Deputies granting divorce, and rendering seminarians liable to military service. IT is charged by President Riddle of the Penn Bank, Pittsburgh, Pa., that the collapse of the institution was due to the directors' connection with the oil pool. A JUDGMENT has been obtained against Dr. J. H. McLean for legal services rendered him in his contest for Colonel Broadup 1998 speat THE Quebec authorities on the 24 discharged from arrest John C. Eno, ex-President of the Second National Bank, New York, on account of a fatally defective paSpot PUB SUM an anq "II" " JOHN STEWART PARNELL, President of the Irish National League of Ireland, sends to Sullivan, President of the American League, a letter of thanks for contributions from the United States, to be used in the suopere Supproadde *0140 10 has disbanded the Fourth Regiment of Infantry, Ohio National Guard, for inefficiency at the Cincinnati riots, and partialem SE " AI -0,1 OUM officers eq: JO eq: Jepun ported for duty at the riots. -ng eng 10 "I S3KVP agent perior Court at Fort Wayne, Ind., died 10 III us Jerse 'PT ey: 30 2q2yu ens no three weeks. His age was sixty-five. -euju Court our 10 aspar SUM "H ablest em su SUM pus 'ssued usa; lawyer that had ever graced the bench. siq pus Improved SEAL pujm SH terse, compact and energetic style gave to enjua CRIMES AND CASUALTIES. 18 AUM PARZ BceHoB . 4:85 eqs NO Knupp's tunnel. near Ligonier, Pa., killSupering puw ueur enju But Reed. em uo snojes . 4100 eqs NO reported. SUM Prod zur u! " 30 Julling eqs 4:05 eqs NO XIS 10 drath the pesnes "PM persons and serious injuries to others. Other victims supposed to be buried rujns om III AT Dallas, Tex., Oliver B. Taylor, charged with robbing the United States mails, has been lodged in jail. AT Rhuampenk, capital of Cambodia, fire destroyed the whole quarter outside the French concession. The King lost 105 B 4708 eq: 10 Sujueze equal so explosion occurred outsideof the detective office at Scotland Yard, London. One building was demolished and several persons were injured. 10 цвшом Insure us 4708 eq: NO N. Y., imitated Mrs. Edmunds, of St. Louis, by cutting the throats of her four children and then dragging a nine-yearold child to the railroad track with her, where both were killed by a passing train. 28 breaker USIS eqs NO result 4q 000'91$ SUM "O "pust AT Lille, France, a balloon accident, on the 1st, resulted in the death of three persons and serious injury to others. Jedeey-Nooq 'M 9 3*12 the NO in the Marathon County Bank, Wausau, "f 194 РОШЕМ pus soys ***IM Beales, the messenger. No cause as: "peuzis ON the 2d a horrible murder of a family 1 -0.1 FEM "sea Jeau 'epdoad 10 1 ported. A NOTORIOUS burglar, known as "Recky I 'PG our no "O 18 решя SEAL "ma by Henry Seitz. By the careless tapping of a blast at the usm 0.453 PT am no "IIIII Jolling were killed. A SERIOUS election riot occurred in -Jad Sixis :pg our no sons were injured. I go shoold A e SUM there Po equ NO earthquake on the Island of Khisin, near the mouth of the Persian Gulf. Twelve

17. June 18, 1884 The Vermont Watchman Montpelier, VT
Article from The Vermont Watchman, June 18, 1884

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Deposited Money. " It is getting to be a very serious question with small depositors, who after all furnish the banks the greater part of the money that those institutions receive, whether the accommodation that they get is at all adequate for the risks they run of being seriously crippled by the operations of thieving or speculating cashiers and presidents. In investigating the affairs of the recently suspended Penn bank in Pittsburg, Penn., this week, for instance, it was found that two accounts together were overdrawn to an amount $7,000 larger than the entire capital and surplus of the institution. Who can wonder that the confidence of the community in the whole banking system is shaken by such developments as this, and the details, which are gradually being made public, of the wreck of the New York banks during the past two weeks, or that small depositors are withdrawing their funds quietly from even the oldest and most stable banks in the country So says the New England Farmer editorially. There are a good many people in Vermont who are painfully realizing the truth of the Farmer's remarks. But there is an easy remedy for the difficulty, so far, at least, as the farmers and other working men of the country are concerned, in the immediate establishment of post-office savings-banks. By taking deposits of money at all the post-offices, and paying it back on demand, or at short notice, the government of the nation will assume a most useful function, and relieve many poor men with small savings from much health-destroying anxiety. So long as the government has to pay interest anywhere it might pay say two per cent on these deposits, and use them to take up the bonds as they become due. But security is of more importance than interest, and such a safe depository would not be likely to be run upon in a panic. These post-office banks have proved a great success in England, and attempts have been made to establish them in this country, but the banking interest has so far been able to buy up enough congress. men to defeat the project. In fact, our congress is mostly made up of bank offi cers and their paid attorneys.

18. July 11, 1884 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, July 11, 1884

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AN INTERESTING SUIT WITH THE PINN.BANK FOR A PARTY. The Dispute Between the Assignee and Directors of Pittsburgh's Defunct Bask Indirectly at lieus is a Wherling Court-A Complicated Case Before a Wheeling Equire. There was an Interesting sult in Equire W. Caldwell's court yesterday, in which, although the sam involved was comparatively small, all the questions now In dispute over the affairs of the bankrupt Penn Bank were directly or Indirectly at lastie. The parties to the suit were Charles 0 Emmons, of Pitts. burgh, n depositor in thelate bank, Thomas Hare, one of the Directors, and Ed. ward L. Hose, agent in this city of the Howe Bewlog Machine Company. Home time before the Pean Bank suspended payment the Howe Bewing Machine Company, through its agent at Pittsburgh, drew on Mr. Rose for $900 due on account, and taking the draft to the Penn Bank, had It discounted, the draft thus ber coming the property of the bank. The bank a afterwards suspended, but, as will be rememd bered by the public, reopened its doors in a K few days, having In the meantime secured enough money by loans, as was supposed, to tide the institution over its difficulties. Itis e claimed by interested parties that after re' opening the doors of the bank the members 8 of the Board of Directors quietly and quickly withdrew all money on deposit to their Indi10 vidual credit, and then again suspended. At any rate the back W:B open only a few days. d after the second suspension Charles C. Emmons, of Pittsburgh, came to thiscity and d entered suit against the Penn Bank, for n $209 33, due him as a depositor, and gar1 maheed the monay due on the draft in Mr. 1. Rose's hands. Mr. Rose answered that he le had funds belonging 10 the bank, and judg. ment was given in favor of Mr. Emminous k against the bank. n, n The Howe Bewing Machine Company also 1⑈ had a claim against the bank for $180.73, d which claim It transferred to д. W. Donel, book-keeper in the fillse here, and he sued in Squira Caldwell's court and garnisheed ce the funds of the bank in Mr. Rose's pornesd sion. Judgment was also given in this case. 10 Yesterday Mr. Hare, one of the Directors n of the Penn Bank, attempted In Squire = Caldwell's court to prevent the payment by e Mr. Rose of the claims of Messra. Emmons and Donel, alleging that the draft upon Mr. d Rose purchased by the bank had come into his possession before the funds were garnie, sheed, and that the money held by Mr. Rose is was really not the property of the bank, but his individual property. Mr. Hubbard ap0, peared for Mr. Hare and Mr. Dovener for Γ. Mr. Emmons. It was sought by Mr. Hubbard to have Mr. Rose amend his answer and deny 18 that he had any money belonging to the à Penn bank, but this he declined to do. Mr. Hare's only recourse, therefore, is a suit against Mr. Hose to recover on the draft. In the meantime the assignnee of the Penn bank, Henry Warner, has entered suit at 18 Pittsburgh against the members of the Board of Directors, to recover money drawn from 10 the bank by them after the first suspension. If this suit is auccessful Mr. Hare's claim to da the draft on Mr. Hose falls to the ground.

19. August 9, 1884 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, August 9, 1884

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Traced to the Penn Bank Disaster. PITTEBURGH, August -- Holmes, Laferty & Co., the oldest and one of the largest firms dealing in live stock in this city made an individual and firm assignment to-day to Ira Brainard and Julius Votter for the benefit of their creditors. The liabilities are about one hundred thousand with assets sufficient to pay dollar for dollar. The failure was caused by complications growing out of the Penn bank suspension. The firm were heavy depositors in the defunct institution and also bad notes out aggregating $50,000, which Assignee Warner, of the Penn bank, had notified them not to pay until decided by the court who were the proper parties to receive the meney.

20. March 2, 1885 The Indianapolis Sentinel Indianapolis, IN
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The Defunct Penn Bank. PITTSBURG, Feb. 28.-In the suit of Assignee Warren against the Directors of the defunct Penn Bank, to recover $450,000 of securities which were taken by the Directors to indemnify them for personal notes given as security to associated banks for a loan to tide over the first suspension, Master George P. Hamilton has completed his report. The ground taken by the assignee was that the securities belonged to the stockholders and depositors, and the Directors had no right to seize them to secure themselves. The text of the decision has not been filed. but it is generally known to be in favor of the Directors.

21. January 23, 1886 New-York Tribune New York, NY
Article from New-York Tribune, January 23, 1886

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# HOTEL GOSSIP AND STRAY CHAT. Senator Camden, of West Virginia, with his white chin whiskers and mustache, in which there is generally a trace of the constant chewing of tobacco, is often seen in New-York. He is slightly stoop-shoul- dered. In conversation he is one of the everyday men- common, plain and sensible. I was chatting with him on Monday about the inquiries made by the Senate Com- mittees for information from the Executive branch of the Government, when he said: "This is all poitties, of course-sparring fer position. Every one understands that. My own view of the matter is that the Senate has no right to ask the President his reasons for the suspen- pension of an officer. That act is his Presidential and ex- ecutive prerogative. If a Senator votes for a confirmation or against a confirmation no one has the right to ask him for the reasons why he so voted. That is the Senatorial prerogative. If the Senate should ask the President for his reason for suspending an official he has only to an- swer that he did it for reasons satisfactory to himself and for the good of the service. Then he has the Senate in a hole. The Senate has, however, a right to all the information regarding an appointment that is submitted for confirmation. It has also a right to any information from the Departments, unless, possibly, from the State Department in the matter of secret negotiations within the province of the President and the Secretary of State." I fell into conversation with the Senator about the charges made in regard to the election of Senator Payne of Ohio, when he said: "Although I have been actively engaged in politics and political movements of all kinds for over twenty years, I have never in all that time known of any transaction that amounted to the direct sale or purchase of a vote. I do not believe we are any more virtuous in West Virginia than they are in Ohio, or In other States. I have known money to be spent freely in politics in various ways by which votes were in- fluenced and secured. We pay the bright men to organ- ize their friends, and as it takes time for the work the pay is generally liberal. So it is customary to pay the expenses of men running for the Legislature who can- not afford to go into that body for the mere pittance that is paid them. But such things are always done through the committees. I am inclined to think that this talk about buying members at Columbus has come about through the fact that several of the men who were there to advocate Mr. Payne's election are in the habit of spending money lavishly in their everyday affairs. They spent money liberally at Columbus and paid the expenses of large numbers of persons to stay there and help them in their fight. They may have paid the expenses of persons who went over the State in Mr. Payne's Interest. These men who went over the State may have been members of the Legislature. But I do not believe that any member of the Legislature received a dollar for his vote. I am positive too, that Senator Payne himself had nothing whatever to do even with the pay- ment of the expenses such as I have suggested." Mayor Fulton, of Pittsburg, who is at the Hoffman House, has a big face of hatchet shape, smooth- shaven, and a powerful frame. He was a bell founder before he became Mayor, and showed me proudly the other day that the callouses were still on his hands. He was backed for the Mayoralty by "Chris." Magee and received the labor vote. He isn't exactly a moralist, and there were people in Pittsburg who held up their hands in horror at the idea of making him the city's chief ex- ecutive, since he has been in office, so I am told by Pittsburgers who opposed his election, he has managed the city affairs with an iron hand and a grasp that has not only astonished his opponents, but has created genuine admiration for him. There has even been talk of running him for Governor, but he has stopped it by the emphatic declaration that he knows enough to run a Mayor's office, but would have to let other men run the Governor's office if he were put there, and that he does not propose to undertake any business or accept any office that he cannot run himself. A Pittsburg man, who has recently come to New- York to live, is W. N. Riddle, the old president of the Penn Bank, about the failure of which there was so much scandal. Mr. Riddle came out of the affair with flying colors, it being shown that after the bank had become involved through the fault of others he put up his entire private fortune in the effort to save the bank. John A. Griffith told me yesterday that within two weeks all the suits that were brought against Mr. Riddle, growing out of the bank failure, have been withdrawn by the prosecutors. The evidence was so conclusive in Mr. Riddle's favor that the statement was made in open court that this was the reason for withdrawing the suits. I am told that the Young Men's Republican Club is negotiating for the lease of the old St. Nicholas Club house near Madison Square as a permanent head quarters. Don M. Dickinson, the Democratic dictator of Michi- gan, made a flying trip through New-York to Washing- ton on Tuesday. His mission, I am told, is to present evidence which he says will clear Judge Powers of Utah from charges of a serious nature made against Lim since his appointment.

22. September 10, 1891 Delaware Gazette and State Journal Wilmington, DE
Article from Delaware Gazette and State Journal, September 10, 1891

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BUSINESS EMBARRASSMENTS. The Knickerbocker Grain and Stock Exchange Company, the main office of which is in Albany, New York, but which had branches at other points in that state, as well as in Massachusetts and at Montreal, suspended Thursday. Philip Reymer of Pittsburg, on Tuesday week confessed judgment to his brother Jacobon three notes aggregating $125,000. Both are members of the firm of Reymer Brothers, confectioners. They say that the firm is in no way affected. Judge Sherman at Boston Thursday issued an injunction against the Boylston National Bank, restraining it from disposing of $1,500 deposited by Charles A. Fox of Ayer, who is an officer of the Short Term Order. The corporation was organized under the laws of West Virginia. Judge Ewing of Pittsburg gave a decision Thursday in the case of E. J. Unger and others against the Penn Bank directors, holding that the directors were not liable for the losses sustained during the bank's second opening. Two of the directors were ordered to return the amount of deposits they withdrew after the doors were closed. In Boston, Thursday morning, Judge Alien granted an injunction against the Suffolk Trust Company, restraining the company from doing business, and appointed John Haskell Butler of Boston, receiver. Mr. Butler said yesterday afternoon that all depositors will undoubtedly be paid in full; that the stockholders are liable, just as stockholders of national banks are, and could be assessed if the quick assets were not sufficient for the purpose. The company had suffered by investing in western e farm mortgages. f

23. June 20, 1893 Wheeling Register Wheeling, WV
Article from Wheeling Register, June 20, 1893

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CONCERNING BUSINESS AND FINANCE. WILMINGTON, DEL., June 19.-The bank of New Hanover did not open to-day and the following notice was posted: "Owing to the withdrawal of more than $320,000 deposits and notices of over $150,000 intended withdrawals maturing in a few days and also to its inability to realize quickly on account of the stringency of been the times, the bank of New Hanover has forced to make an assignment to Junius De- H. Davis in the interest of all concerned, positors will receive dollar for dollar and the business will be wound up as rapidily as possible. "W. L. SMITH, Cashier" [Signed.] The general belief here is that the failis entirely fair and honest. The assets are ure estimated at $1,200,000; the liabilities at $800,000. All unpaid collections of the Bank of New Hanover have been turned over to the Wilmington Savings and Trust Co. for remittance. The closing of the bank was followed by a run on the Wilmington Savings and Trust Co. and the bank was crowded with depositors. The bank is paying full amount on deposits of $90 or under and $90 on all larger deposits. No deposits under this rule can draw over $90 without thirty days notice. There seems to be no doubt of an entire solvency of the bank. COLUMBUS, O., June 19.-J. & G. Butler, wholesale grocers, assigned to-day to Chas. Butler. Liabilities, $50,000; assets, $80,000 to $100,000. Cause financial stringency in times. Been in business since 1854. INDIANAPOLIS IND., June 19.-The Capital National Bank, which suspended payment May 11, resumed business this morning. PITTSBURG. PA., June 19.-The third and final account of the assignee of the famous Penn Bank, which failed seven years ago for $3,000,000. was filed to-day. The balwill be sufficient to pay the per cent., or per cent. June creditors ance NEW on YORK, hand in one-eighth all. 19.-Justice Lawrence twelve Henry of the Supreme Court hasappointed J. Bracket receiver of the Cassel Publishing Company, in an action brought by H. S. director and former vice president that it has Archer. on allegations, financial become condi- insolvent. The company's tion is attributed to its president, Oscar M. Dunham, floating $168,000 worth of paper for his own obligations, it is declared. Dunham is said to have disappeared. The application for the appointment of a receiver was made by Gen. B. F'. Tracy as counsel for the Company, and Austin B. Fletcher, of No. 29 Broadway, who is attorney for many of the creditors. Henry J. Braker, the receiver appointed, qualifies in bond of $160,000. WASHINGTON, D. C., he 19.-Gradually and in the absence of export, the in the treasury is increasing. To-day it is $93,719,546, an increase since Saturday of more than $700,000 and a gain of nearly $5.000,000 during the past three weeks. The fact that American grain is now finding foreign markets is given as the reason for the cessation of gold exports and the fact that the west is receiving large quantities of money from the east accounts in large measure for the building up of the treasury gold, as gold is being deposited in New York for currency delivered by the government at western points. N. Y., June N. BUFFALO, 19.-Mr. temporary J. Adam was to-day appointed receiver of the George L. Squire Manufacturing Company by Justice Lambert in special term of the Supreme Court to-day and his bond was fixed at $50,000. Liabilities are about $200,000 and the assets $306,000. Cause, stringency of the money market. ALBANY, OREGON, June 19.-Lynn County Bank closed its doors this morning. The cashier says the liabilities are about $220,000, and assets $318,000. Depositors will be paid in full. NEW YORK, June 19.-The Eaton Cole and Burnham Co., manufacturers of brass goods at Nos. and 84 Fulton street, are in financial difficulties and a receiver is asked for. BOSTON, Mass., June 19.-The Little Kanawha Lumber Company. a Maine corporation, capital stock of $500,000, with $347,000 actually paid in, is financially embarrassed and has been placed in a receiver's hands. The assets are $1,100,000; liabilities, $785,000, consisting of negotiable paper.