Cosmopolitan National Bank (Pittsburg, PA)

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PITTSBURG BANK SUSPENDS TODAY Pittsburg, Sept. 5.-The Cosmopolitan National bank of this city located at Liberty and Sixth avenue, suspended operations today. While not a large institution, it is a fair sized one and its suspension caused considerable excitement. A few moments after a notice was posted on the doors a large crowd collected in front of the bank. Just why the bank had suspended has not been made public as yet.

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BANK FAILED

Pittsburg, Sept. 5.-The Cosmopolitan National bank of this city located at Liberty and Sixth avenues, suspended operations today.

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BANK SUSPENDS Causing Considerable Excitement As It is a FairSized One. PITTSBURG, Pa., Sept. 5-The Cosmopolitan national bank of this city suspended operations today by order of the comptroller of the currency. The institution is a fair-sized one. The suspension caused a considerable excitement. Just why the bank suspended was not made pliblic. The bank is capitalized at $500.000. Its last report showed its Itsources and liabilities to be $1,915.520.00.

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NATIONAL BANK IS SUSPENDED Pittsburg Institution Closed by Federal Orders. / Pittsburg, Sept. 5.-The Cosmopolitan National Bank was closed this morning by order of the comptroller of currency. A receiver was appointed. Federal officials in charge declare the bank is insolvent. The bank officials are indignant and claim the action is uncalled for. The cashier stated the liabilities are about one million and the assets are in excellent condition. The deposits aggregate five hundred thousand.

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PITTSBURG BANK FAILURES

Two Institutions Close Their Doors in Smoky City. Pittsburg, Sept. 5.-The Mount Washington Savings and Trust company was closed today by the Pennsylvania banking commission. The Cosmopolitan National bank of Pittsburg suspended operations today, by order of the controller. It was a fair-sized institution, and the failure created considerable excitement. The liabilities and resources of the Cosmopolitan are nearly $2,000,000.

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Receiver Appointed

WASHINGTON, Sept. 5.-The comptroller-of currency today appointed Robert Lyons receiver of the Cosmopolitan National bank of Pittsburg. Lyons is receiver of the Allegheny National bank at Pittsburg also.

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PITTSBURG BANK CLOSED BY ORDER PITTSBURG, Pa., Sept. 5.-The Cosmopolitan National bank of this city was closed today by order of the comptroller of currency. Robert Lyons was appointed receiver.

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BANK WAS INSOLVENT Comptroller of Currency Tells Cause of Closing WASHINGTON Sept. -The Cosmopolitan national bank of Pittsburg was closed today by direction of the comptroller of the currency upon the ground of insolvency. Robert Lyons has been appointed receiver. The last report of condition, July 15, 1908, shows deposits of $589,840. The total liabilities are placed at $1,912,520.

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A PITTSBURG BANK FAILED YESTERDAY PITTSBURG, Sept. 5.-The Cosmopoitan National Bank was closed this morning by order of the Comptroller of the Currency. Robert Lyons was appointed receiver. The federal officials refuse information and the bank officials are indignant, declaring that the closing of the bank was uncalled for. The bank's liabilities are approximately $1,000,000. The assets are said to be in excellent condition.

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PITTSBURG BANK CLOSED BY COMPTROLLER PITTSBURG, Sept. 5.-The Cosmopolitan National bank, Sixth and Liberty-aves., was closed this morning at 8 o'clock, by order of the comptroller of the currency. Robert Lyons, receiver of the Alleghency National bank, was appointed receiver of the Cosmopolitan bank. Federal officials, in charge of the closed bank. refuse absolutely to throw any light on the reasons leading to the step. further than to declare positively that the institution has been found to be insolvent.

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BANKERS INDIGNANT MOSMOPOLITANTO APPEAL Trust Company Will Reopen-Examiner Says He Was Not Drunk. [By Telegraph to The Tribune.) Sept. 6.-Officials of the Cosmopolitan yesterday by National Pittsburg. Bank, Controller which of was the closed Currency of the on recomB. Cunninga meeting would the an appeal for made ender mendation be beld him be announced of first to Bank the of to-night the Controller Examiner week, that at of John the which Currency to open as it is emission the bank. they declare A. of bank, glivent. E Kitzmiller, vice-president the Examiner in the reterated Conningham closing to-night institution. had overstepped of his the statement most his that authority To-day thirty-one prominent bankers were seen one stated that heard no at the Coshe of had Pittsburg reports and of each trouble they mopolitan Bank previous to the closing. This, is as usually know trouble was on for as is usually when claimed, calied most aid exists. unusual, bank prior is to None in the trouble. bankers closing, of the. Bankers banks when a genare over declare during banks erally the that case indignant discriminated the last few against months the closing by Pittsburg the and bank have been examiners. Regarding the rumors that he was under the of liquor when he closed the bank, Exseen, sent aminer influence Cunningham, who refused to be "I geny was Comword: The Mount Washington emphatically Savings that I and Trust drunk." a state was yespany, Examiner institution, J. M. which Cover, closed terday by according to statements issued by its officers to-night, will open for business as usual Tuesday morning, to-morrow being a legal holiday. The notice closing the bank was posted shortly before noon on Saturday, and remained up only 8 short time. but as banks close on Saturday afternoons DO further business was done yesterday. George M. Gordon, secretary and treasurer of the trust company. in a statement issued to-night says Examiner Cover called at the bank about 10 effect of Bank have on company, was ado'clock the would closing yesterday the the morning Cosmopolitan trust and asked National and what ised that while the Cosmopolitan was a reserve repository, the balance with it at present was only $4,000, and the closing would have no maarial effect. "About 11:30 o'clock he called again," the statement continues, "saying that he had instructions from Commissioner Berkey to close up: he put a notice on the door and drew down the blinds. He alled Mr. Berkey by telephone, and after a lengthy conversation with him ordered the sign taken down. He remained for a few minutes, and my presence told different persons that a misake had been made, and that we would be open usual on Tuesday morning. "He also authorized me to tell inquirers the same. He made no explanation to the crowd which milected after the notice was posted. "Our reserve funds at present are very much above legal requirements, and while I do not know what the action of the board will be I see no reason why business cannot be resumed as usual, unless we have suffered irreparable injury from the posting of the notice and the spreading of the rumor. Within the last ten days our bank was examined by State Bank Examiner White, who reported to us that we were in better condition than ever before." A. L. Richmond, jr., a director of the Cosmopolitan. is vice-president of the trust company.

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"I WAS NOT DRUNK' Bank Examiner Cunningham Denies Financiers' Charges. CONCERN CLOSED MAY SUE Pittsburg Bankers Declare Cosmopolitan Appears Solvent. CASHIER DECLARES IT SOUND Chief of Insolvency Division of Treasury, Judge F. F. Oldham, May Make Investigation. PITTSBURG. September 7.-Indignation over the mysterious closing of the Cosmopolitan National Bank of Pittsburg Saturday. and over the attempt to close the Mount Washington Savings and Trust Company. is expressed by thirty-one of the leading bankers of Pittsburg. who say they had no knowledge of anything wrong at the Cosmopolitan Bank. Most of them had daily dealings with it. The charge that Bank Examiner John B. Cunningham was intoxicated at the time of his examination of the bank's books is mush discussed. That the controller of the currency, who has been asked to investigate Cunningham, has taken official notice of the matter was shown here last night when Judge Francis F. Oldham, chief of the insolvency division of the Treasury Department, admitted that he had been ordered to remain in Pittsburg indefinitely. "I was not drunk," was all Cunningham would say yesterday when asked for a statement. Directors of the Cosmopolitan Bank will hold a meeting Tuesday, when an appeal will be made to the controller of the currency for permission to reopen the bank, on the ground that. there was no cause for its being closed. E. A. Kitzmiller. vice president of the bank, one of those to charge Cunningham with being intoxicated. is practically at the head of the institution, John McClurg. the president. being seriously ill with tuberculosis. Closed Bank May Bring Suit. James M. Cover. the state banking examiner, who closed the Mount Washington Savings and Trust Company, is not to be found. It is alleged that he left the city. E. Weiler. vice president, said yesterday that the bank will make an attempt to open Tuesday. but If it is apparent that a run will follow. which will criple the institution, the doors will be closed and action will be begun against the state authorities for damages. Robert Lyons. receiver of the Cosmopolitan Bank, was asked if he had read the charge that Cunningham was intoxicated. "I am sorry that this matter has become public," he replied. "Cunningham is an excellent fellow." The thirty-one prominent bankers seen yesterday expressed their surprise at the closing of the banks. The consensus of opinion was that the Cosmopolitan was in good condition financially and that they would have known It had there been any trouble. Opinions of Bankers. Robert Wardrop, one of them. said: "It is the custom, in cases of this kind, for a bank, if it is in trouble, to appeal to the other banks. Invariably assistance is given, as far as possible. I know of no such appeal having been made by the Cosmepolitan." Statements of a similar nature were made by the other bankers seen.

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Another Bank Closed

Pittsburg, Sept. 6.-The Cosmopolitan National bank of thi city, located at Liberty and Sixth avenues, suspended operations yesterday. A notice posted on the door reads: "Closed by the order of the comptroller. John B. Cunningham, examiner in charge."

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SAY BANK IS SOLVENT

Directors Demand That Institution Be Reopened. Pittsburg, Sept. 8.-The directors of the Cosmopolitan National bank which was closed by order of the comptroller of the currency Saturday, met and formulated a demand upor the government officials at Washing ton that the bank be reopened and allowed to continue business. They in sist that the institution is solvent and that the action of the comptroller was not warranted. Receiver Robert Lyons and three government accountants have begun work on the bank's accounts. The receiver says it will be several days before he will be able to make a report to the comptroller.

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BANK SUSPENDS Causing Considerable Excitement As It is a FairSized One. PITTSBURG, Pa., Sept. 5-The Cosmopolitan national bank of this city suspended operations today by order of the comptroller of the currency. The institution is a fair-sized one. The suspension caused a considerable excitement. Just why the bank suspended was not made public. The bank is capitalized at $500.000. Its last report showed its resources and liabilities to he $1,912,520.00.

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Pittsburg Bank Closed

Pittsburg, Sept. 5.-The Cosmopolitan National bank of this city suspended. The bank was capitalized for $500,000, and, while important, was not among the leaders in Pittsburg. Its deposits were less than $1,000,000, according to recent reports.

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JOHN A. DIX. He is the man nominated by the Democrats for second place on the New York State ticket, of which Lewis Stuyvesant Chanier is the head.

MURRAY CALLS IN

BANK RECEIVERS

Comptroller of Currency Gives Order for Conference in Capital October 5.

Following close upon the heels of the talks which he has given the na-tional examiners, Comptroller of the Currency Lawrence O. Murray this morning issued orders calling to Washington the receivers of the insolvent national banks in the East.

The conference will begin October 5, and will be devoted to discussion of many topics pertaining to receiverships. At present, there are sixteen receivers who are affected by the Comptroller's order.

While it is not so stated, it is entirely possible that the recent closing of the Cosmopolitan National Bank of Pittsburg by Receiver Cunningham, who it was alleged at the time, was intoxicated, as well as the desire of the new Comptroller to thoroughly inspect and then thoroughly drill his men, are responsible for this new order.

According to the Comptroller's office, the session of the examiners this morning was a mild affair, and Mr. Murray refrained from using more of the hot shot he poured at the heads of the conferees Monday.

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ANOTHER BANK FAILURE AND THE ELECTION ALMOST HERE-TOO BAD FOR THE G. O. P.-DEPOSITORS NOT GUARANTEED. Pittsburg, Oct. 26.-The Cosmopolitan National Bank of Pittsburg, is in the hands of a receiver, one million dollars short. L. R. Goshom, delinquent tax collector of Pitts burg, has obtained judgment against the board of directors for seventy five thousand dollars.

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Bank Near $1,000,000 Short. The Cosmopolitan National Bank of Pittsburg, which is now in the hands of a receiver, appears to be short something like $1,000,000.

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Bank Near $1,000,000 Short. The Cosmopolitan National Bank of Pittsburg, which is now in the hands of a receiver, appears to be short something like $1,000,000.

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Bank Near $1,000,000 Short. The Cosmopolitan National Bank of Pittsburg, which is now in the hands of a receiver, appears to be short something like $1,000,000.

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TO GIVE DIVIDEND Pittsburg, Pa., July 7.-Receiver Lyon of the defunct Cosmopolitan National bank of Pittsburg, announces a dividend of five per cent to the bank's creditors. This makes a total of 55 per cent paid out since the bank closed last September.