Beaver Savings Bank (Beaver, PA)

Episode Information

Episode UID
6780574591004
Episode Type
Suspension โ†’ Closure
Bank Type
savings
Bank ID
678057459 hash
Start Date
August 14, 1883
Location
Beaver, Pennsylvania (40.695, -80.305)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
66b0cff95864f2b5

Response Measures

None

Description

Newspapers call it a 'personal liability concern' and variously name the manager J.C./W. McCreery; ultimate disposition (receiver/merger) not fully documented here.

Events (1)

1. August 14, 1883 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Reports of insolvency/failure and small personal-liability bank capital led to suspension (articles explicitly call it a failure or suspension after rumors of insolvency).
Newspaper Excerpt
The Beaver Savings bank at Beaver ... suspended.
Source
newspapers

Newspaper Articles (3)

Article from Lancaster Daily Intelligencer, August 13, 1883

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Article Text

SHE GOT HER MONEY. Enforcing Payment of a Debt at the Point of a Histol. A highly sensational incident of the Beaver savings bank failure on Thursday has come to light. Some time ago a Mrs. Ubalto, the widow of one of the soldiers of the famous Light Brigade, sold some of her property and deposited $700 with the bank. On Thursday morning Mrs. Ubalto heard some rumors to the effect that the institution was not solvent, and would probably suspend in a day or two. She is a very energetic woman, and has a pretty fair knowledge of business affairs, and she determined to act promptly. Accordingly she went at once to the bank, where she found William McCreery. the president. Sbe was accompanied by her son, who is about twenty-one years of age, and they made a demand for the money. Mr. McCeery said that the bank had failed and that the failure would be announced the next day. Owing to this, he told her that he could not pay her the money, but said she must take her chance with the other creditors and get the same proportion that they did. This excited Mrs. Ubalto very much, and turning to her son she told him to go to the house and get a pistol. She gave her instructions in such a low tone that Mr. McCreery did not hear what she said and he did not suspect anything until the young man returned with a Derringer, which he handed to his mother. She promptly cocked it, and pointing it at Mr. McCreery she reiterated her demand for the money, saying she would shoot him if he did not comply. Mr. McCreery tried to appease Mrs. Ubalto, but she would not listen to him. and her son intimated that he was fully prepared to back up his mother's claims. The result was that Mr. McCreery went to the safe where he kept his greenbacks, counted out the $700 and gave it to the widow. She received it without a word and handed it and the pistol to her son and then, in true feminine fashion, fainted dead away upon the bank floor. The boy assisted bis mother home after she revived, but she was very much pros trated by the exciting events of the morn ing. The affair was kept very quiet, but it leaked out. The liabilities of the bank are not more than $30,000, and it is stated on good authority that every dollar of this will be paid.


Article from The Rock Island Argus, August 15, 1883

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Article Text

SHE GOT HER CASH. How a Plucky Pennsylvania Woman Secured Her Deposit in a Tottering Savings Bank. PITTSBURG, Pa., Aug. 14.-The Beaver Savings bank at Beaver, a few miles below Pittsburg, suspended. It was a personal liability concern, with a capital of only $15,000. It was owned and managed by J.C. McCreery, who is abundantly able to meet the liabilities, which are not large. In connection


Article from The Clarion, October 31, 1883

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Article Text

A Woman's Pluck. The Beaver Savings-Bank at Beaver, a few miles below Pittsburg, suspended yesterday. It was a personal liability concern, with a capital of only $15,000. It was owned and managed by J. C. McCreery, who is abundantly able to meet the liabilities, which are not large. In with the is told. ing connection story Its failure truthfulness the follow- is vouched for by several responsible gentlemen of Beaver: Some time ago au Englishman named Ubalto removed from Boston and settled in Beaver, his a year or occupation prospered and being when photography. he died He so ago he left a nice little property to his wife and son. Some time ago Mrs. Ubalto, who is an Englishwoman about 60 of some propand erty years deposited age, sold $700 with morning of the her Beaver Mrs. Savings Bank. Thursday Ubalto heard some rumors to the effect that the bank was notsolvent, and would probably suspend in a day or two. She is a very energetic woman, and has a pretty fair knowledge of business affairs, and she determined to act promptly. Accordingly she went at once to the bank, where she found Mr. McCreery. She was accompanied by her son, who is twenty-one years of age, and they made a demand for the money. Mr. McCreery said that the bank had failed, and that the failure would be announced the next day. Owing to this he told her y a that he could not pay her the money, but said that she must take her chances with the other creditors and get the y same proportion that they did. This nexcited Mrs. Ubalto very much, and d to son, go a re she, to the turning house and her get pistol. told him She to gave her instructions in such a low tone that t Mr. McCreery did not hear what she said, and did not suspect anything until y the young man returned with a derrin stger, which he handed to his mother. rShe promptly cocked it, and pointing it ve at Mr. McCreery she reiterated her de n. mand for the money, saying that she would shoot him if he did not comply es, a Mr. McCreery tried to appease Mrs. to Ubalto, but she would not listen to him to and her son intimated that he was fully isprepared to back up his mother's claims He The result was that Mr. McCreery went to the safe where he kept his greenbacks in. counted out the $700, and gave it to the a widow. She received it without a word ell and handed it and the pistol to her son and then in true feminine fashion sh fainted away on the bank floor. Every effort was made to keep the affair quiet but it leaked out to-day.-Pittsburg ity (Pa.) Special to Chicago Tribune.