American Bank (Pittsburg, PA)

Episode Information

Episode Type
Suspension โ†’ Closure
Start Date
November 26, 1887
Location
Pittsburg, Pennsylvania (40.441, -79.996)
Bank Type
trust

Metadata

Notes

Contemporary spelling 'Pittsburg' used in sources (modern spelling 'Pittsburgh').

Events (2)

1. November 26, 1887 Suspension
Cause
Voluntary Liquidation
Cause Details
Bank closed its doors and announced it would go into liquidation; capital stock $200,000 and stockholders individually liable.
Newspaper Excerpt
The American Bank ... closed its doors this morning and announced that it would go into liquidation.
Source
newspapers
2. December 1, 1887* Receivership
Newspaper Excerpt
The undersigned has filed his second account as receiver of the American Bank of Pittsburg (T. H. Given, Receiver).
Source
newspapers

Newspaper Articles (20)

Article from Evening Star, November 26, 1887

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A PITTSBURG BANK CLOSES, It will Probably Pay all Claims and there is no Excitement. PITTSBURG, Nov. 26.-The American Bank of this city, doing business in the old Penn Bank building, Wood street, closed its doors this morning and announced that it would go into liquidation. The capital stock is $200,000. It is said by those in a position to know that the bank will pay all claims against it. The stockholders are individually liable. The suspension caused no excitement in financial circles.


Article from Alexandria Gazette, November 26, 1887

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Closing ofa Bank

PITTSBURG, Nov. 26.-The American Bank of this city, doing business in the old Penn Bank building, Wood street, closed its doors this morning and announced that it would go into liquidation. The capital stock is $200,000 It is said by those in a position to know that the bank will pay all claims against it. The stockholders are individually liable. The suspension caused no excitement in financial circles.


Article from New-York Tribune, November 27, 1887

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A PITTSBURG BANK CLOSES ITS DOORS

PITTSBURG, Nov. 26.-The American Bank, of this city, doing business in the old Penn Bank building, closed its doors this morning and announced that it would go into liquidation. The capital stock is $200,000. It is said by those in a position to know that the bank will pay all claims against it. The stockholders are individually liable. The suspension caused no excitement in financial circles. It is understood that the deposits have been gradually decreasing for years until they aggregated less than $60,000. The liabilities are less than $100,000 and the assets largely in excess of that amount.


Article from The Asheville Citizen, November 27, 1887

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Suspension of a Bank By telegraph to the Ashaville Citizen.) PITTSBURG, Nov. 26.-The American Bank of this city, doing business in the old Pennsylvania Bank building. Wood street, closed its doors this morning and announced it would go into liquidation. The capital stock is $200,000. It is said by those in a position to know that the bank will pay all claims against it. Stock-holders are individually liable. The suspension of the bank caused no excitement in financial circles.


Article from Wheeling Sunday Register, November 27, 1887

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Pittsburg American Bank Suspends

PITTSBURG, November 26.-The American Bank of this city, doing business in the old Pennsylvania Bank building, Wood street, closed its doors this morning and and announced that it would go into liquidation. The capital stock is $200,000. It is said by those in a position to know that the bank will pay all claims against it. The stockholders are individually liable. The suspension caused no excitement in financial circles.


Article from St. Paul Daily Globe, November 27, 1887

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A Bank Closed Up

PITTSBURG, Nov. 26.--The American bank, of this city, doing business in tne old Penn bank building, Wood street, closed its doors this morning and announced that it would go into liquidation. The capital stock is $200,000. It is said by those in a position to know that the bank wil! pay all claims against it. The stockholders are individually liable. The suspension caused no exeitement in financial circles.


Article from The Indianapolis Journal, November 27, 1887

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Business Embarrassments

PITTSBURG, Pa., Nov. 26.-The American Bank, of this city, doing business in the old Penn Bank building, Wood street, closed its doors this morning and anrounced that it would go into liquidation. The capital stock is $200,000. It is said by those in a position to know that the bank will pay all claims against it. The stockholders are individually liable. The suspension caused no excitement in financial circles. It is understood that the deposits have been gradually decreasing for years, until they aggregated less than $80,000. The liabilities are less than $100,000, and the assets largely in excess of that amount. NEW YORK, Nov. 26.-Judgments aggregating $103,000 have been entered against David M. Kelly for money loaned on his guarantee for the construction of the Fort Madison & Northwestern railroad, of Iowa.


Article from Fort Worth Daily Gazette, November 27, 1887

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A Pittsburg Bank Suspends, PITTSBURG, PA., Nov. 26.-The American Bank of this city doing business in the old Pennsylvania Bank building on Wood street, closed its doors this morning and announced that it would go into liquidation. The capital stock is $200,000. It is said by those in & position to know that the bank will pay all claims against it. The stockholders are individually liable. The suspension caused no excitement in financial circles. It is understood that the deposits have been gradually decreasing for years until they amounted to $80,000. The liabilities are less than $100,000, and assets largely in excess of that amount.


Article from Richmond Dispatch, November 27, 1887

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Closed Doors

[By telegraph to the Dispatch.] PITTSBURGH, November 26.- - The American Bank, of this city, doing business in the old Pennsylvania-] Bank building, on Wood street, closed its doors this morning and announced that it would go into liquidation. The capital stock is $200,000. It is said by those in a position to know that the bank will pay all claims against it. The stockholders are individually liable. The suspension caused no excitement in financial circles.


Article from The Memphis Appeal, November 27, 1887

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Bank Closes ITN Doors

PITTSBURG, Pa., Nov. 26. - The American bank, of this city, doing business in the old Pennsylvania bank building, on Wood street, closed its doors this morning and announced that it would go into liquidation. The capital stock is $200,000. It is said by those in a position to know. that the bank will pay all claims against it. The stockholders are individually liable. The suspension caused no excitement in financial circles. It is understood that the deposits have been gradually decreasing for years, until they aggregated less than $80,000. The liabilities are less than $100,000, and the assets largely in excess of that amount.


Article from The Wheeling Daily Intelligencer, November 28, 1887

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BANK FAILURE AT PITTSBURGH, The Assets of the American Bank in Excess of the Liabilities. PITTSBURGH, Nov. 26.-The American bank, of this city, doing business in the old Penn bank building, Wood street, closed its doora. this morning and รกnnounced that it would go. into liquidation. The capital stock is $200,000. It ia said by those in 8 position to know that the bank will pay all claims against it. The stockholders are individually liable. The suspension caused no excitement in financist circles. The failure has no significance whatever as unfavorably affecting other financial institutions or the general business situation. The event caused no surprise 88 it has been for a long time counted among the possibilities. It is understood that the deposits have been gradually decreasing for years until they aggregated less than $80,000. The liabilities are less than $100,000, and the assets largely in excess of that amount.


Article from Wheeling Register, November 28, 1887

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Pittsburg American Bank Suspends

PITTSBURG, November 26.-The American Bank of this city, doing business in the old Pennsylvania Bank building, Wood street, closed its doors this morning and and announced that it would go into liquidation. The capital stock is $200,000. It is said by those in a position to know that the bank will pay all claims against it. The stockholders are individually liable. The suspension caused no excitement in financial circles.


Article from The Indiana State Sentinel, November 30, 1887

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Gone into Liquidation, PITTSBURG, Pa., November 26.- - The American Bank. of this city, doing business in the old Penn Bank building, on Wood street, closed its doors this morning, and announced that,it would go into liquidation. The capital stock is $200,000. It is said by those in a position to know, that the bank will pay all claims against it. The stock holders are individually liable. The suspension caused no excitement in financial circles. 4 It is understood that the deposits have been gradually decreasing for years until they aggregated less than $80,000. The lise bilities are less than $100,000, and the assets largely in excess of that amount.


Article from Pittsburg Dispatch, July 31, 1889

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DIVIDENDS

Bank-The first dividend due deN CAN TO DEPOSITORS OF AMERIpositors in the American Bank is now payable unonlapplication at the office of Marshalls & Imbrie, No. 117 Diamond st., Pittsburg. THOS. H. GIVEN, Receiver. jy31-56 IVIDEND NO. 2-THE BOARD OF DIRECTORS of the Westinghouse Machine D Company have this day declared a dividend of THREE (3) PER CENTUM on the preferred and common capital stock of the company, payable on August 20, next, to stockholders of record this date. Transfer books will remain closed until the day succeeding that fixed for the payment of the dividend. Checks will be sent to stockholders through the mails. RALPH BAGALEY, Treasurer. PITTSBURG, PA., July 30. 1889. jy31-20


Article from Pittsburg Dispatch, March 25, 1891

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Notes From the Courts

A VERDICT for the plaintiff was given yesterday in the suit of Charles Maul against James C. Duncan et al to recover possession of a piece of land. A. C. SPINDLER was appointed commissioner yesterday to take testimony in the d1vorce proceedings of Charles B. Fredericks again-t Elizabeth Fredericks. THE second account of F. H. Given, receiver of the American Bank, was filed yesterday in the Common Pleas Court No. 1. It shows a balance for distribution of $12,291 25. The account is filed as part of the suit brought by William Floyd against L, Peterson, Jr., and others.


Article from Pittsburg Dispatch, March 25, 1891

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LEGAL NOTICES

1 of Allegheny county; No. 793, December IN THE COURT OF COMMON PLEAS NO. term, 1887. William Floyd V8 L. Peterson, Jr., et al. The undersigned has filed his second account as receiver of the American Bank of Pittsburg, and the same will be allowed by the Court on the 18TH APRIL, 1891, unless cause he shown to the contrary. T. H. GIVEN, mh25-47-w Receiver.


Article from Pittsburg Dispatch, April 8, 1891

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IN THE COURT OF COMMON PLEAS NO. 1 of Allegheny county; No. 793, December term, 1887. William Floyd vs L. Peterson, Jr., et al.

The undersigned has filed his second account as receiver of the American Bank of Pittsburg, and the same will be allowed by the Court on the 18TH APRIL, 1891, unless cause be shown to the contrary.

T. H. GIVEN, Receiver. mh25-47-w


Article from Pittsburg Dispatch, July 28, 1891

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IN THE COURT OF COMMON PLEAS NO. 1 of Allegheny county, No. 793, December term, 1887. William Floyd v. L. Peterson, Jr., etal. The undersigned has filed his third and final account as receiver of the American Bank of Pittsburg, and the saine will be allowed by the Court on 21st August, 1891, unless cause be shown to the contrary. T. H. GIVEN, Receiver. jy28-46-Tu TOTICE IS HEREBY GIVEN THAT LETN TERS of administration, C.T. A., on the estate of Dr. Josiah F. Roberts, late of the city of Pittsburg and county of Allegheny, have been granted to the undersigned. All persons indebted to said estate will make immediate payment, and those having claims or demands against the same will present them promptly. G.W. WILLIAMS


Article from Pittsburg Dispatch, August 4, 1891

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NOTICES Legal Notices

IN THE COURT OF COMMON PLEAS NO. 1 of Allegheny county, No. 793, December term, 1887. William Floyd V. L. Peterson, Jr., et al. The undersigned has filed his third and final account as receiver of the American Bank of Pittsburg, and the same will be allowed by the Court on 21st August. 1891, unless cause be shown to the contrary. T. H. GIVEN, Receiver. jy28-46-Tu ESTATE 15 PETER M'CLAREN, DECEASEDhereby given that letters of administration, on the Estate of Peter McClaren, deceased, have been granted to the undersigned, to whom all persons indebted to said estate are requested to make immediate payment. and those having claims or demands against the. same will make them known without delay. WILLIAM A. THOMPSON, Administrator. Address 927 Liberty street. Pittsburg. Jy21-33-Tu


Article from Pittsburg Dispatch, August 11, 1891

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Legal Notices

IN THE COURT OF COMMON PLEAS NO. 1 of Allegheny county, No. 793, December term, 1887. William Floyd v. L. Peterson, Jr., et al. The undersigned has filed his third and final account as receiver of the American Bank of Pittsburg, and the same will be allowed by the Court on 21st August, 1891. unless cause be shown to the contrary. T. H. GIVEN, Receiver. jy28-46-Tu PETER M'CLAREN, DECEASEDESTATE OF 18 hereby given that letters of administration, on the Estate of Peter McClaren, deceased, have been granted to the undersigned, to whom all persons indebted to said estate are requested to make immediate payment, and those having claims or demands against the same will make them known without delay. WILLIAM A. THOMPSON, Administrator. Address 927 Liberty street, Pittsburg. jy21-33-Tu