Allegheny National Bank (Pittsburg, PA)

View Charter #722 on SPMC View balance sheet

Episode Information

Episode UID
72201246
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
7220 national
Charter Number
722
Start Date
October 22, 1903
Location
Pittsburg, Pennsylvania (40.441, -79.996)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a3d32109aa04b70e

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1908-05-18
Date receivership terminated
1917-01-22
OCC cause of failure
Fraud
Share of assets assessed as good
45.7%
Share of assets assessed as doubtful
41.0%
Share of assets assessed as worthless
13.3%

Description

Sources state the bank suspended after another Pittsburg bank failed and contemporaneous copy refers to banks 'went out of business', but permanent closure for this specific bank is not fully documented here.

Events (3)
1. January 16, 1865 Chartered
Source
historical_nic
2. October 22, 1903 Suspension
Cause
Local Banks
Cause Details
Suspension followed the failure of the Federal National Bank of Pittsburg (nearby Pittsburg bank failures)
Newspaper Excerpt
The suspension of an Allegheny national bank, growing out of the failure yesterday of the Federal National Bank of Pittsburg,
Source
newspapers
3. May 18, 1908 Receivership
Source
historical_nic

Newspaper Articles (2)
1. October 23, 1903 The Savannah Morning News Savannah, GA
Article from The Savannah Morning News, October 23, 1903

Click image to open full size in new tab

Article Text

STOCKS AND BONDS. New York, Oct. 22.-The movement of prices of stocks to-day was again inconclusive, the net changes being for the most part trivial. Losses predominated at the end of the day, but the market had quite generally advanced in face of the early unfavorable developments. The suspension of an Allegheny national bank, growing out of the failure yesterday of the Federal National Bank of Pittsburg, caused scarcely a ripple in the market, although reports showed the continued necessity of precautionary measures at Pittsburg, such as refraining from

2. October 26, 1903 Daily New Dominion Morgantown, WV
Article from Daily New Dominion, October 26, 1903

Click image to open full size in new tab

Article Text

The disturbances caused by the suspension of the Baltimore and Pittsburg banks which recently went out of business, have subsided and no further trouble is anticipated. The country is all right and it will not go to the bow-wows just at present.