American Bank (Pittsburg, PA)

Episode Information

Episode UID
8543181191055
Episode Type
Suspension โ†’ Closure
Bank Type
trust
Bank ID
854318119 hash
Start Date
November 26, 1887
Location
Pittsburg, Pennsylvania (40.441, -79.996)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
265677f735a7fbc1

Response Measures

None

Description

Bank announced it would go into liquidation; a receiver is later recorded in 1891.

Events (2)

1. November 26, 1887 Suspension
Cause
Voluntary Liquidation
Cause Details
Bank closed its doors and announced it would go into liquidation; stockholders individually liable.
Newspaper Excerpt
The American Bank ... closed its doors this morning and announced that it would go into liquidation.
Source
newspapers
2. April 18, 1891 Receivership
Newspaper Excerpt
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.
Source
newspapers

Newspaper Articles (12)

Article from Alexandria Gazette, November 26, 1887

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Article Text

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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Article Text

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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Article Text

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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Article Text

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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Article Text

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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Article Text

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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Article Text

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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Article Text

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 Wheeling Daily Intelligencer, November 28, 1887

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Article Text

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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Article Text

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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Article Text

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, April 1, 1891

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Article Text

# LEGAL NOTICES. 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