Amherst Bank Company - Amherst, OH

Episode Information

Episode UID: 56060571363
Episode Type: Suspension → Closure
Bank Type: state
Bank ID: 5606057 routing
Routing Number: 56-0605
Start Date: July 11, 1913
Location: Amherst, Ohio (41.398, -82.222)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 7b50dcc9d9966f44

Response Measures

None

Description

Closure ordered by Ohio authorities was linked to the Kuhn interests' collapse.

Events (1)

1. July 11, 1913 Suspension

Cause: Government Action
Cause Details: Ordered closed by Ohio authorities as part of fallout from the collapse of Kuhn-controlled banking interests.
Newspaper Excerpt: Later in the day the Amherst Bank Company, at Amherst, Ohio, also controlled by the Pittsburgh interests, was ordered closed by the Ohio authorities.
Source: newspapers

Newspaper Articles (1)

1. July 11, 1913 Putnam Patriot Putnam, CT

Article from Putnam Patriot, July 11, 1913

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Article Text

BANK COLLAPSE IN PITTSBURGH Closing of First-Second National Leaves Situation Sound ONE SORE SPOT IS GONE Receivers Asked for Other Kuhn Companies-More Than $100,000,000 Involved in Crash of Pennsylvania Institution and Subsidiaries. Pittsburgh.-What appears to be the most gigantic bank crash since the panie of 1907 occurred here when the First-Second National Bank, carrying deposits. of more than $32,000,000 and involving interests valued at approximately $100,000,000 was ordered by the acting controller of the currency to keep its doors closed, pending an investigation by the government. Following the closure of the FirstSecond National came the news that the First National Bank of McKeesport, carrying deposits of $3,439,000 and conducted by the same interests as the Pittsburgh bank, had closed its doors. Later in the day the Amherst Bank Company, at Amherst, Ohio, also controlled by the Pittsburgh interests, was ordered closed by the Ohio authorities. The Amherst institution carried deposits of more than $230,000. The banks are controlled by the great Kuhn interests, which are considered unassailable throughout the Middle West. The failure of the institutions ties up $115,000,000. All the Kuhn interests, representing $200,000,000, are involved in the four receiverships. Hundreds of depositors withdrew their funds from the Pittsburgh Bank of Savings, in which the Kuhn interests are also paramount. W. S. Kuhn and his associates, according to their friends, claim that they made all the sacrifice they could for the welfare of the institution. They charge the present Treasury Department authorities with repudiating what former officials approved only 90 days ago. W. S. Kuhn, who was president of the Second National before the consolidation, became president of the new institution. Mr. Kuhn is one of the organizers of J. S. & W. S. Kuhn, which is the controlling interest in the American Water Works & Guarantee Co. This corporation has a capital of $20,000,000, all of which is outstanding. The water-works corporation controls, directly or through subsidiary companies, plants supplying water wto about 1,250,000 people in eighty cities or towns of the United States; hydro-electric properties in Idaho, irrigation systems, a group of bituminous eoal mines in Pennsylvania that rank third in output in that state, and electric railway and electric light and power systems in Pennsylvania. Altogether the company controls forty corporations with an aggregate capital of $74,000,000.