Butler County Bank (Millerstown, PA)

Episode Information

Episode UID
3280403491101
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
328040349 hash
Start Date
September 15, 1891
Location
Millerstown, Pennsylvania (40.551, -77.155)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
3d491b26a962b937

Response Measures

None

Events (2)
1. September 15, 1891 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Owner H. J. Hoyt reported deposits ~$26,000 and claims assets insufficient; local judgments and an assigning stockholder indicate bank-specific insolvency pressure.
Newspaper Excerpt
The Butler County Bank ... suspended payment a week ago, but has not closed its doors.
Source
newspapers
2. January 29, 1892 Receivership
Newspaper Excerpt
The Butler County bank, a private banking institution, has closed its doors and H. J. Hoyt, the cashier, has made an assignment for the benefit of creditors.
Source
newspapers

Newspaper Articles (12)
1. September 23, 1891 New-York Tribune New York, NY
Article from New-York Tribune, September 23, 1891

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Article Text

A PENNSYLVANIA BANK IN TROUBLE. Pittsburg, Sept. 22.-A dispatch from Butler, Penn., says: The Butler County Bank, of Millerstown, owned by H. J. Hoyt, suspended payment a week ago, but has not closed its doors. The deposits aggregate only $26,450, and Mr. Hoyt says that his assets amount to $30,000 and that if he can obtain assistance for a few days he will be able to pull through. The embarrassment is creating a panic at Millerstown and judgments were entered against a number of residents of that village to-day. Owen Brady, a prominent oil operator and an extensive land owner, assigned to-day to L. M. Wise. He was a former stockholder of the bank and is said to be on Mr. Hoyt's paper. Judgments were obtained against him to-day for $20,000.

2. September 23, 1891 Evening Journal Wilmington, DE
Article from Evening Journal, September 23, 1891

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The Bank Failed, but Is Still Open. BUTLER, Pa., Sept. 23.-The Butler County bank, of Millerstown, owned by J. Hoyt, suspended payment a week ago, but has not closed its doors. The deposits aggregate only $26,450, and Mr. Hoyt says that his assets amount to $30,000, and that if he can obtain assistance for a few days he will be able to pull through.

3. September 23, 1891 The Morning Call San Francisco, CA
Article from The Morning Call, September 23, 1891

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however, that the farmers did not hold back their corn, because it they had this would not have happened." No sooner had the announcement of the assignment been made than Chicago creditors began an assault on the local assets through the State courts. During the afternoon several attachments representing small claims were filed. OTHER FAILURES. PITTSBURG, Sept. 22.-Rea Bros. & Co., prominent brokers of this city, correspondents of White & Co. of New York, have temporarily suspended business. The result is the failure of "Deacon" White's firm this morning. JACKSONVILLE (Fla.), Sapt. 22. - The Southern Gas Trust and Construction Company, controlling and operating the Palatka Gaslight and Fuel Company and the Gainesville Gas and Electric-light Company, has been placed in the hands of a receiver. Many of the stockholders reside in the North. BUTLER (Pa.), Sept. 22. - The Butler County Bank at Millerstown, owned by H. J. Hoyt, suspended payment one week ago. but had not closed its doors. The deposits aggregate only $26,000. and Hoyt says his assets amount to $30,000, and that if he can obtain assistance for a few days he will pull through. The embarrassment is creating a panic at Millerstown, and judgments have been entered against a number of rosidents there to-day. Owen Brady. a prominent oil operator and extensive land-owner, assigned to-day. He was a former stockholder in the bank and said to be on Hoyt's paper. Judgments were obtained against him for $20,000.

4. September 23, 1891 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, September 23, 1891

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Article Text

An Embarrassed Bank. BUTLER, Pa., Sept. 22.-The Butler County bank at Millerstown, owned by H. J. Hoyt, suspended payment a week ago but had not closed its doors. The deposits aggregate only $26,000, and Hoyt says his assets amount to $300,000, and that if he can obtain assistance for a few days he will pull through. The embarrassment is creating a panic at Millerstown, and judgments were entered against a number of residents there today. Owen Brady, a prominent oil operator and extensive land owner, assigned today. He was a former stockholder in the bank and is said to have been on Hoyt's paper. Judgments have been obtained against him for $200,000.

5. September 23, 1891 The Evening Herald Shenandoah, PA
Article from The Evening Herald, September 23, 1891

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Trouble Caused by a Suspended Bank. BUTLER, Pa., Sep. 23.--The Butler County Bank of Millerstown, owned by H. J. Hoyt, suspended payment a week ago, but has not closed its doors. The deposits aggregate only $26,450, and Mr. Hoyt says that his assets amount to over $80,000, and that he will be able to pull through. The embarrassment is creating a panic in Millerstown. Owen Brady, a prominent oil operator and land owner, assigned yesterday to L. M. Wise. He was a former stockholder of the bank and is said to be on Mr. Hoyt's paper. Judgments were obtained against him for $20,000.

6. September 23, 1891 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, September 23, 1891

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Article Text

Trouble Caused by a Suspended Bank. BUTLER, Pa., Sep. 23.-The Butler County Bank of Millerstown, owned by H. J. Hoyt, suspended payment a week ago, but has not closed its doors. The deposits aggregate only $26,450, and Mr. Hoyt says that his assets amount to over $30,000, and that he will be able to pull through. The embarrassment is creating a panic in Millerstown. Owen Brady, a prominent oil operator and land owner, assigned yesterday to L. M. Wise. He was a former stockholder of the bank and is said to be on Mr. Hoyt's paper. Judgments were obtained against him for $20,000.

7. September 25, 1891 The Columbian Bloomsburg, PA
Article from The Columbian, September 25, 1891

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The Bank Failed, but Is Still Open. BUTLER, Pa., Sept. 23.-The Butler County bank, of Millerstown, owned by J. Hoyt, suspended payment a week ago, but has not closed its doors. The deposits aggregate only $26,450, and Mr. Hoyt says that his assets amount to $80,000, and that if he can obtain assistance for a few days he will be able to pull through.

8. September 26, 1891 Passaic City Record Passaic, NJ
Article from Passaic City Record, September 26, 1891

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THE NEWS EPITOMIZED. Eastern and Middle States. MRS. HARRISON, wife of the President, and her friends from Auburndale witnessed. with 75,000 others, the Venetian carnival on the Charles River at Waltham, Mass. JAMES E. OSTRANDER, of Kingston, N. Y., was arrested for stealing $75,000 from the Ulster County Savings Institution, of which he was treasurer. FIRE at Barton Landing, Vt., damaged that town to the extent of $275,000. JOHN W. AND FRED WALMSLEY, twins, aged nine, were drowned at the lower end of the Passaic Falls, Paterson, N. J. They were in swimming, when one of them slipped off a rock. His brother jumped after him, and both sank. AN attorney for parties unknown has paid to the State National Bank at Boston, Mass., $18,180 as "conscience money." This lawyer does not himself know from whom this money comes. REV. FATHER MULLONEY. pastor of the Roman Catholic Church at Granville, Washington County, N. Y., dropped dead on the altar while saving mass. The congregation became greatly excited. LUTHER O. GREENE, Inspector of Finance of the State of Vermont and for about thirty-five years editor and proprietor of the Woodstock Standard, died suddenly at Montpelier. For two years past he had bean President of the Vermont Press Association. JOSEPH F. KNAPP, President of the Metropolitan Life Insurance Company of New York City, died at sea on board the steamship Champagne. AN unknown disease Is attacking the cattle in Pennsylvania, almost always with fatal effect. It is believed to be a form of Texas splenetic fever. When attacked the animal's head falls helplessly and its legs seem unable to bear the weight of the body. A FREIGHT wreck occurred two miles east of Greensburg, Penn., demolishing forty freight and twenty cattle cars. Engineer Rogers and Brakeman Wadsworth were fatally injured, a tramp killed and Fireman R. E. Stanley seriously injured. THE Italian citizens celebrated in New York City the twenty-first anniversary of the end of the temporal power of the Pope. By the fall of a roof in the Caynga colliery at Scranton, Penn., James Horan, a miner, and two Hungarian laborers were instantly killed. THE Butler County Bank of Millerstown, Penn., owned by H. J. Hoyt, suspended payment. The embarrassment created a panic at Millerstown, and judgments were entered against a number of residents. F. W. DUNLAP, a deputy delinquent mercantile tax appraiser of Philadelphia, Penn., to pleaded guilty conspiracy to defraud the city and was sentenced to two years in the Eastern Penitentiary. THE courthouse at South Atkinson, houses, barns and bridges were blown down by a storm in Piscataquis County, Me., and Mrs. Hall, of Orneville, was killed by a falling chimney. THE contest of the $30,000,000 will of Mrs. Hopkins-Searles was commenced in Salem, Mass. Mr. Searles said the first proposition of marriage was made by his wife.

9. October 2, 1891 Shenandoah Herald Woodstock, VA
Article from Shenandoah Herald, October 2, 1891

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THE NEWS EPITOMIZED. Eastern and Middle States. THE Butler County Bank of Millerstown, Penn., owned by H.J. Hoyt, suspended payment. The embarrassment created a panic at Millerstown, and judgments were entered against a number of residents. F. W. DUNLAP, a deputy delinquent mercantile tax appraiser of Philadelphia, Pean., pleaded guilty to conspiracy to defraud the city and was sentenced to two years in the Eastern Penitentiary. THE courthouse at South Atkinson, houses, barns and bridges were blown down by a storm in Piscataquis County, Me., and Mrs. Hall, of Orneville, was killed by a falling chimney. THE contest of the $30,000,000 will of Mrs. Hopkins-Searles was commenced in Salem, Mass. Mr. Searles said the first proposition of marriage was made by his wife. PLEURO-PNEUMONIA has again appeared ramong cattle in New Jersey. Government inspectors have been sent there to stamp it out. IN the Hopkins-Searles will contest at Salem, Mass., Mr. Searles testified that the annual income of the Hopkins estate was about $600,000. He and his wife received forty-five pe each, which was deposited in his name. THE monument of the Tammany regiment on the battlefield of Gettysburg, Penn., was unveiled with appropriate ceremonies. Headed by a band the ninety survivors of the regiment marched in front of the monument. It stands on Hancock avenue, about 200 feet from "Bloody Angle," where Pickett's famous charge was repulsed. Addresses were made by Colonel John R. Fellows, an ex-Confederate; General Daniel E. Sickles, General Martin T. McMahon, General Ely S. Parker, Barlow S. Weeks, Commander of the Sons of Veterans, and Captain J. M. Ellendorf. THE first instalment of nickel-steel plate made in this country for actual use has just been delivered at Cramps' shipyard, Philadelphia, Penn. It is three inch protective deck-plate for one of the triple-screw cruisers. FOUR HUNDRED Smith's College girls attended a woman's suffrage meeting in Northampton, Mass. THE religious sect of Schrenkfelders celebrated at Clayton, Penn.. the 127th anniversary of the landing of their forefathers in this country. Besides the congregation located there there are only four in the country, and all were in attendance. THE boiler of Berlin's new saw. mill at Bear Creek, Penn, exploded, completely demolishing the mill and instantly killinz J. Elva Berlin, nes Conger, and Charles B. Grove, all well-knownlumbermen. A PAYING vein of gold ora has been found in Silver Lake Township, Penn. WRITS of quo warranto were issued against the State Treasurer and State Secretary of Connecticut. WATER in the New Hampshire rivers is so low that many of the mills can run only on half time. THE public schools in Syracuse, N. Y., closed for a few days because of the phenomenal heat. JAMES DARLING and Sandy Ferry, while dynamiting stumps near Garfield Penn., were instantly killed by the premature explosion of a cartridge. REV. DR. S. D. BURCHARD, author of the famous Rum, Romanism and Rebellion speech during the Cleveland-Blaine Presidential campaign, died in Saratoga, N. Y. He was born at Steuben, N. Y., September 5tb, 1812. ON the day following the accident it was stated that eleven of the victims of the fireworks explosion in Newark, N. J., were dead, and other fatalities were expected. All the victims were Italians. Two freight trains came into collision about two miles west of Hawleyville, Conn. The engineer, William Day; the fireman, James Gardner, and a brakeman, G. A. Sprague, of the eastbound train, were killed. They all lived in Hartford.

10. October 2, 1891 Fisherman & Farmer Elizabeth City, Edenton, NC
Article from Fisherman & Farmer, October 2, 1891

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THE NEWS EPITOMIZED. Eastern (and Middle States. MRS. HARRISON, wife of the President, and her friends from Auburndale witnessed, with 75,000 others, the Venetian carnival on the Charles River at Waltham, Mass. JAMES E. OSTRANDER, of Kingston, N. Y., was arrested for stealing $75,000 from the Ulster County Savings Institution, of which he was treasurer. FIRE at Barton Landing, Vt., damaged that town to the extent of $275,000. JOHN W. AND FRED WALMSLEY, twins, aged nine, were drowned at the lower end of the Passaic Falls, Paterson, N. J. They were in swimming, when one of them slipped off a rock. His brother jumped after him, and both sank. AN attorney for parties unknown has paid to the State National Bank at Boston, Mass., $18,180 as "conscience money." This lawyer does not himself know from whom this money comes. REV. FATHER MULLONEY. pastor of the Roman Catholic Church at Granville, Washington County, N. Y., dropped dead on the altar while saving mass. The congregation became greatly excited. LUTHER O. GREENE, Inspector of Finance of the State of Vermont and for about thirty-five years editor and proprietor of the Woodstock Standard, died suddenly at Montpelier. For two years past he had been President of the Vermont Press Association. JOSEPH F. KNAPP, President of the Metropolitan Life Insurance Company of New York City, died at sea on board the steamship Champagne AN unknown disease is attacking the cat tle in Pennsylvania, almost always with fatal effect. It is believed to be a form of Texas splenetic fever. When attacked the animal's head falls helplessly and its legi seem unable to bear the weight of the body. A FREIGHT wreck occurred two miles east of Greensburg, Penn., demolishing forty freight and twenty cattle cars. Engineer Rogers and Brakeman Wadsworth were fa. tally injured, a tramp killed and Fireman R. E. Stanley seriously injured. THE Italian citizens celebrated in New York City the twenty-first anniversary of the end of the temporal power of the Pope. By the fall of a roof in the Caynga colliery at Scranton, Penn., James Horan, a miner, and two Hungarian laborers were instantly killed. THE Butler County Bank of Millerstown, Penn., owned by H. J. Hoyt, suspended pay ment. The embarrassment created a panio at Millerstown, and judgments were entered against a number of residents. F. W. DUNLAP, a deputy delinquent mercantile tax appraiser of Philadelphia, Penn., pleaded guilty to conspiracy to defraud the city and was sentenced to two years in the Eastern Penitentiary. THE courthouse at South Atkinson, houses, barns and bridges were blown' down by a storm in Piscataquis County, Me., and Mrs. Hall, of Orneville, was killed by a falling chimney. THE contest of the $30,000,000 will of Mrs. Hopkins-Searles was commenced in Salem, Mass. Mr. Searles said the first proposition of marriage was made by his wife.

11. October 7, 1891 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, October 7, 1891

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THE NEWS EPITOMIZED. Eastern and Middle States. MRS. HARRISON, wife of the President, and her friends from Auburndale witnessed. with 75,000 others, the Venetian carnival on the Charies River at Waltham, Mass. JAMES E. OSTRANDER, of Kingston, N. Y., was arrested for stealing $75,000 from the Ulster County Savings Institution, of which he wastreasurer. FIRE at Barton Landing, Vt., damaged that town to the extent of $275,000. JOHN W. AND FRED WALMSLEY, twins, aged nine, were drowned at the lower end of the Passaic Falls, Paterson, N. J. They. were in swimming, when one of them slipped off a rock. His brother jumped after him, and both sank. AN attorney for parties unknown has paid to the State National Bank at Boston, Mass., $18, 180 as "conscience money." This lawyer does not himself know from whom this money comes. REV. FATHER MULLONEY. pastor of the Roman Catholic Church at Granville, Washington County, N. Y., dropped dead on the altar while saving mass. The congregation became greatly excited. LUTHER O. GREENE, Inspector of Finance of the State of Vermont and for about thirty-five years editor and proprietor of the Woodstock Standard, died suddenly at Montpelier. For two years past he had been President of the Vermont Press Association. JOSEPH F. KNAPP, President of the Metropolitan Life Insurance Company of New York City, died at sea on board the steamship Champagne. AN unknown disease is attacking the cattle in Pennsylvania, almost always with fatal effect. It is believed to be a form of Texas splenetic fever. When attacked the animal's head falls helpiessly and its legs seem unable to bear the weight of the body. A FREIGHT wreck occurred two miles east of Greensburg, Penn., demolishing forty freight and twenty cattle cars. Engineer Rogers and Brakeman Wadsworth were fatally injured, a tramp killed and Fireman R. E. Stanley seriously injured. THE Italian citizens celebrated in New York City the twenty-first anniversary of theend of the temporal power of the Pore By the fall of a roof in the Caynga calliery at Scranton, Penn., James Horan, a miner, and two Hungarian laborers were instantly killed. THE Butler County Bank of Millerstown, Penn., owned by H. J. Hoyt, suspended payment. The embarrassment created a panic at Millerstown, and judgments were entered against a number of residents. F. W. DUNLAP, a deputy delinquent mercantile tax appraiser of Philadelphia, Penn., pleaded guilty to conspiracy to defraud the city and was sentenced to two years in the Eastern Penitentiary. THE courthouse at South Atkinson, houses, barns and bridges were blown down by a storm in Piscataquis County, Me., and Mrs. Hall, of Orneville, was killed by a falling chimney. THE contest of the $30,000,000 will of Mrs. Hopkins-Searles was commenced in Salem, Mass. Mr. Searles said the first proposition of marriage was made by his wife.

12. January 30, 1892 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, January 30, 1892

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BUSINESS FAILURES. Three Banks Go Down-Baltimore Pork Packers Settle. MILLERSTOWN, Pa., Jan. 29. -The - Butler County bank, a private banking institution, has closed its doors and H. J. Hoyt, the cashier, has made an assignment for the benefit of creditors. It is understood several prominent oil men are involved, and if pushed other failures are feared. The deposits are said to be upwards of $60,000. LOUISVILLE, Ky., Jan. 29.-The Deposit bank at Glasgow has closed its doors owing to a run brought about by a rumor that the bank failed. The bank paid out all its available funds and then assigned. It is stated that every depositor will be paid in full. BALTIMORE, Jan. 29.-Cassard & Son, pork packers, have made a satisfactory settlement with creditors and resumed business. Hor SPRINGS, S. D., Jan. 29.-The Fall River County bank, at Oelrichs, has assigned for the benefit of creditors. It is supposed that the liabilities are about $28,000. The assets are entirely inadequate to cover the liabilities, it is said.