First National Bank (Wilkinsburg, PA)

Episode Information

Episode UID
472801599
Episode Type
Suspension β†’ Closure
Bank Type
national
Bank ID
47280 national
Charter Number
4728
Start Date
March 4, 1933
Location
Wilkinsburg, Pennsylvania

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
087e92ec8e527ebf

Response Measures

None

Receivership Details

Depositor recovery rate
98.8%
Date receivership started
1933-12-05
Date receivership terminated
1941-04-30
Share of assets assessed as good
55.9%
Share of assets assessed as doubtful
39.4%
Share of assets assessed as worthless
4.7%

Description

Conservator named March 26, 1933; receiver later pursued recovery actions in 1934.

Events (6)

1. April 19, 1892 Chartered
Source
historical_nic
2. March 4, 1933 Suspension
Cause
Government Action
Cause Details
Statewide bank holiday declared by Governor Pinchot (and coordinated with federal/state moratoria) that closed Pennsylvania banks beginning March 4, 1933.
Newspaper Excerpt
I hereby declare a bank holiday throughout Pennsylvania on Saturday, March 4, 1933
Source
newspapers
3. March 6, 1933 Receivership
Newspaper Excerpt
Interest is asked from March 16, 1933. The statement of claims sets forth that the company had $12,517.08 on deposit when the bank was closed on March 6, 1933, by Presidential order that the company was permitted to withdraw its deposits ... The receiver, in his statement, ... declared that the defendant company was legally bound to return money on demand of the comptroller of the currency his agent.
Source
newspapers
4. March 6, 1933 Suspension
Cause
Government Action
Cause Details
Banks remained closed under state/federal banking holiday and subsequent Presidential/federal action that kept institutions closed on March 6, 1933.
Newspaper Excerpt
the bank was closed on March 6, 1933, by Presidential order
Source
newspapers
5. March 26, 1933 Other
Newspaper Excerpt
the First National Bank of Wilkinsburg, Martin L. Moore ... named conservator for the bank was announced by the Pittsburgh Branch of the Federal Reserve Bank of Cleveland on March 26, 1933.
Source
newspapers
6. December 5, 1933 Receivership
Source
historical_nic

Newspaper Articles (6)

Article from Pittsburg Dispatch, April 26, 1892

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Article Text

FEATURES OF TRADE. How Real Estate Sales Could Be Increased Here if the SELLER WOULD MAKE CONCESSIONS Owners Realize the Great Possibilities of Central Property. THE DRIFT OF MONEY AND SPECULATION The failure last week to sell a piece of downtown business property, because the owner refused to "split the difference," about $3,000, with the buyer, is significant as showing that owners realize the possibilities of central property, and see no reason for making concessions. Whether they are right or wrong in exacting their own terms is their own business; but it is certain that more sales would be effected if buyers were humored to a reasonable extent. It cannot be denied that property-owners have a right to ask what they choose, and that they are pursuing this course must be taken as a sign of confidence on their part rather than an indication of fictitious values. If the latter were true, the bottom would soon fall out of the market. Yesterday's Building Record. Yesterday was a fairly good day in the building line. Twenty-two permits were issued for 26 improvements, all estimated to cost $51,565. Those of greatest value are: Frank B. Cameron, brick dwelling on Forty-third street, Seventeenth ward, $3,300: J. S. Seaman, brick dwelling on Forty-third street, Seventeenth ward, $3,300; W. & R. McAdams, brick dwelling and store on Fifth avenue, Fourteenth ward, $3,500; Mrs. C. J. Aiken, two brick dwellings on Castleman street, Twentieth ward, $12,000; estate of W. E. Steiren, brick dwelling on Victoria st., Fourteenth ward. $4,000; G. W. Aliyn, brick dwelling on Forbes street, Twenty-second ward, $9,500; E. H. Stoney, frame dwelling on Industry street, Thirtyfirst ward, $1,950. Special Features of Trade. General trade was of good proportions yesterday. There was a noticeable increase in street traffic owing to favorable weather. A lateral as well as a main sewer is involved in the proposition upon which Wilkinsburgers will soon vote. There was considerable opposition at first, but it has almost entirely disappeared. Application will be made May 10 for a charter for a bridge from Woods' Run to McKee's Rocks. S. B. Schoyer is one of the incorporators. The Harter Banking Company, Canton, O., will soon begin the erection of a three-story stone block for banking purposes on East Tuscarawas street. Presbyterians of Grove City will during the summer erect a church at a cost of $10,000. The First National Bank of Wilkinsburg will begin business to-morrow. The directors made this announcement on Saturday. On 'Change yesterday morning Vice President A. A. Adams announced the death of Mr. John M. Horner, the oldest member. After a brief enlogy by Mr. John D. Bailey, a committee, Henry M. Long, John D. Bailey and W. I Mustin. was appointed to draft appropriate resolutions. The New YorkExchanges will close at noon to-morrow, Governor Flower having approved the act making that day a legal holiday after the hour of 12 o'clock noon, when the cornerstone of the Grant monument will be laid. The annual meeting of the Southside Gas Company will be held Monday afternoon, May 2. Movements in Real Estate. There was a rumor yesterday afternoon of a deal in acreage on the Southside involving $60,000, but it could not be verified. The statement that the sale of the O'Leary and Buffum properties to the Sixth U. P. Church was consummated without the intervention of an agent is incorrect. Both deals were managed by Mr. Thomas McKee. The Hodgson estate at Ingram, on the Panhandle Railroad, has been subdivided into 159 lots, and will be put in the market in a short time through the agency of Morris & Nesbitt. H. M. Pollock sold for the Laurel Land Company another nice lot, 40x120, on Laurel avenue, Ben Avon station; for $700. Black & Baird sold to Cora Simpson two lots in the T. A. Gillespie plan. on Herron Hill, bein Nos. 121 and 122, for $750. B. J. Williams sold for the Armenia Insurance Company four lots on Mt. Washington. Terms, private. E. T. Schaffner sold to James A. Brown a four room frame house, lot 25x75, No. 93 Freeland street, near Allen avenue. Thirtyfirst ward, for Alanson Wilcox for $1 250 cash; also placed two mortgages of $1,000 each on Beltzhoover borough properties; also, sold to Charles Ott two fiveroom frame houses, lot 21x160, Brownsville avenue, near head of Knoxville Incline, Thirty-f ward, for Thomas Brewer: consideration withheld. The Burrell Improvement Company re. port the following sale oflots at Kensington. Martin Gmis, lots 60 and 61, block 1, $822 50; Joseph Kowtoorcyk, lot 59, block 1, $488 75; Samuel B. Bishoff, lot 11, block 5, $600; Andro & Katarzyna Medura, E. H. lot 21, block 12, $300. W. A. Herron & Sons sold lot No. 7 in King's plan on Herron near Wylie avenue, Thirteenth ward, 20 feet front for $600; street sewered and paved and expense paid. They also confirm the sale at auction on


Article from The Sun, August 17, 1893

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Article Text

Suspended Banks Reopen Their Doors. KANSAS CITY. Aug. 16. - The Armourdale Bank at Armourdale. which suspended business in the financial crash in the two Kansas cities one month ago yesterday. has reopened its doors and resumed business. FORT SCOTT, Kan., Aug. 16-The First National Bank of this city. which suspended on July 18, resumed business this morning. Bank Examiner Latimer of Sedalia. who has been in charge since it closed. has issued a notice to depositors saying that the institution is in good financial condition. WASHINGTON. Aug. 16.-The First National Bank of Rico, Col., which suspended payment June 30. 1893. having complied with the conditions imposed by the Comptroller of the Currency. and its capital stock being unimpaired. has been permitted to-day to reopen its doors for business. CLEVELAND. Aug. 16.-The Cardington Banking Company. at Cardington. O., closed its doors this afternoon. Theassets approximate $100. 000 and are said to be sufficient to meet the demands of the creditors. The President of the bank. Major W. G. Beatty. was obliged to make an assignment. and the bank could not weather the trouble brought on by his embarrassment. CARROLLTON. Pa.. Aug. 16.-The banks of Johnston. Bucks county. at Ebensburg. Carrollton. and Hastings. which suspended payments until they could get more money. will open again on Monday morning.


Article from Evening Star, March 4, 1933

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Article Text

# EARLY U. S. ACTION # PLANNED ON BANKS New York and Illinois Declare Holidays-Only Four States Unrestricted. (Continued From First Page.) Connecticut took similar action, bring- ing to 43 the list of States in which restrictions on withdrawals are opera- tive in some form or another. Only Montana, Colorado, North Da- kota and South Carolina remained without restrictions at noon today. Delaware's banks were open, but the State Legislature has already taken emergency action. These developments had brought from Representative Rainey, the next Speaker of the House, the prediction that "an extra session of Congress will be called at the earliest possible time." He said he felt that early next week, possibly Tuesday, would not be too soon. Pre- viously Rainey had told House mem- bers-elect to remain in Washington. Others at the Capitol said the session probably would begin Wednesday. The Federal Reserve Bank of New York was closed with all other bank- ing institutions of that State. The Federal Reserve Bank at Philadelphia also closed, under a holiday declared throughout Pennsylvania by Gov. Pin- chot. Later in the day the Minne- apolis Federal Reserve Bank suspended business. The closing of the New York Federal Reserve Bank meant the tying up of its huge gold reserve for the period of the holiday against withdrawal by either domestic or foreign agencies. In discussing the banking relief pro- gram, Senator Robinson said: "We do not know just when it will be completed, but it will be expedited all possible. The details can not be announced right now but you may be assured there will be no delay." Wagner Plans Action, Previously Senator Wagner, Demo- crat, of New York, had told newspaper men he would carry immediately to Democratic leaders an appeal for imme- diate emergency banking moves. In- formed at his hotel here of banking moratoria in New York and Illinois. Wagner said he would appeal this morn- ing to Democratic leaders to begin working out a program and some time this afternoon would call on Mr. Roose- velt with the same objective. A bank holiday, he said, "is the only thing to do" to meet the emergency of the banks themselves, but he added quick steps are necessary to enable them to reopen and continue opera- tions. Harvey Couch, Democratic member of the Reconstruction Finance CorpoΠ³Π°- tion, was the first White House caller this morning. He said after a brief conference with President Hoover he had discussed "matters incident to the banking situation," but declined to give details. Couch conferred last night with President-elect Roosevelt. Officials in Conferences. High officials both of the outgoing Republican and incoming Democratic administrations were in conference most of the night. Secretary of the Treasury Mills said afterward the Hoover administration would have no statement, but that governors of the Federal Reserve banks in Chicago and New York would have announcements. Demands Impossible. The hours between midnight and dawn saw banking officials in many States struggling with the problem, made acute by the flurrying of nervous- ness on the part of depositors. As a statement by the New York Clearing House Committee put it: "The unthinking attempt of the pub- lic to convert over $40,000,000,000 of deposits into currency at one time is, on its face, impossible." The statement added that the condi- tion clearing house banks is such that "they could, through the facilities of the Federal Reserve Bank, pay on de- mand every dollar of their deposits," but that withdrawals throughout the country as a whole have increased so that a "halt" is necessary "to enable the proper authorities to consider and adopt remedies to meet this situation, not for New York primarily, but for the Nation as a whole." Only a few States remained today in which restrictions on withdrawals had not been invoked. No Holiday in Virginla. In Virginia, Gov. Pollard said no general banking holidays would be de- clared because the State's laws already protect the banks and their depositors. In Maryland, the General Assembly early today approved the emergency banking legislation without a dissenting vote in either House. Gov. Ritchie signed it this morning, but said that the banking institutions of the State will not reopen Monday. The resources of the Reconstruction Finance Corporation earlier had been made available to hard-pressed, but solvent banks in States that have imposed moratoria on withdrawals. This was one of a number of de- velopments yesterday that included introduction of legislation to allow postal savings checking accounts and to confer upon the incoming admin- istration sweeping authority to main- tain the security of deposits. Reconstruction Corporation officials said their policy called for lending in- stitutions if the loans were well secured enough money to pay the percentage of deposits that could be withdrawn, provided the banks did not have the funds immediately available. It was emphasized this was not a new departure, but was simply the ap- plication of regulations decided upon for individual instances in the past to a situation spread into a number of States. Pinchot's Statement. Gov. Pinchot of Pennsylvania here for the inauguration issued the follow- ing statement: "Because of the declaration of a bank holiday in New York, Illinois and most of the other States, similar action in Pennsylvania has become unavoidable. "Were our banks to remain open, the demands upon them would impose an impossible burden. "Therefore, upon specific recom- mendation of Gov. Norris of the Phila- delphia Federal Reserve Bank, I hereby declare a bank holiday throughout Pennsylvania on Saturady, March 4, 1933, and Monday, March 6, 1933." Exchange Statement. A statement issued by the Govern- ing Committee of the New York Stock Exchange said: "The Governing Committee at a meeting held this morning in order to give full effect to the banking holiday declared by the Governor of the State of New York directed: "First, that the exchange be closed during such holiday: "Second, that members and firms registered on the exchange be pro- hibited from making any contracts for the purchase or sale or the borrowing or lending of any securities, and also from permitting their offices or facili- ties to be used for the purpose of mak- ing or carrying out any such contracts; "Third, that all deliveries be suspend- ed on all member contracts, except on such contracts as may be cleared by or settled through the Stock Clearing Corporation, and that in such cases deliveries shall be made as the Stock Clearing Corporation shall direct


Article from The Daily Courier, March 4, 1933

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GOVERNOR ORDERS TWO-DAY HOLIDAY FOR STATE BANKS By International Nows Service. PHILADELPHIA, March 4.-Governor Gifford Pinchot. from his temporary residence at Washington, D. C., today proclaimed mandatory twoday hollday for all Pennsylvania banks. The proclamation issued at 8:30 this morning through Dr. William D. Gordon, State Secretary of Banking, directs all banks in the Commonwealth to remain closed Saturday and Monday. George W. Norris, governor of the Federal Reserve Bank in Philadelphia at whose behest leading Philadelphia financiers assembled in the early Lours the morning to consider decisive action, said the step was made necessary by the growing list state bank holidays. Although it was believed Penneylvania banks could have remained open under the emergency legislation passed by the Legislature last Monday, of holidays by the governors of New York and Illinois and several other states early today precipitated the crisis, Norris explained. "Because of the declaration of bank holiday in New York, Illinois and other states similar action in Pennsylvania has become unavoidable," the Governor declared in his "Were our banks to remain open the demands on them would impose an impossible burden." "Therefore, on the specific recommendation of Governor George W. Norris of the Philadelphia Reserve Bank, hereby declare bank hollday throughout for Saturday, March 5, and Monday, March 6," the proclamation concluded.


Article from Pittsburgh Sun-Telegraph, March 26, 1933

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NAME CONSERVATORS The Pittsburgh Branch of the Federal Reserve Bank of Cleveland has announced the appointment of four more conservators for banks in Western Pennsylvania. They are the First National Bank of Crafton, J. W. Griffin; the First National Bank of Wilkinsburg, Martin L. Moore: the First National Bank of Edinboro, E. P. Campbell and the First National Bank of Plumville, Frank Douglass. Word is awaited here from Washington regarding the duties of the conservators and how much may be paid out of the banks over which they have been appointed. Reorganizations are expected in some of the institutions.


Article from Pittsburgh Post-Gazette, September 22, 1934

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BANK'S RECEIVER Owner, Owner. SUES DEPOSITOR Seeks Return of Alleged Illegal Withdrawals. The Mine Safety Appliance Company, 201 North Braddock avenue yesterday was sued for $6,258.54 in the United States district court by Harry T. Aufderheide, receiver of the First National Bank of Wilkinsburg. Interest is asked from March 16, 1933. The statement of claims sets forth that the company had $12,517.08 on deposit when the bank was closed on March 6, 1933, by Presidential order that the company was permitted to withdraw its deposits by checking for $3,505.05 March and $9.012.03 on March The receiver, in his statement, that the an illegal preference the rights of deposialso declared that the defendant company legally bound to return money on demand of the comptroller the currency his agent. The declaration made that the demand for the return of the withdrawals, less the amount of dividends depositors 50 per cent, has not been complied with.