Houtzdale Bank (Houtzdale, PA)

Episode Information

Episode UID
8760015191101
Episode Type
Suspension → Run → Closure
Bank Type
trust
Bank ID
876001519 hash
Start Date
September 30, 1891
Location
Houtzdale, Pennsylvania (40.825, -78.351)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
c192dafaa53641ab

Response Measures

None

Description

The Houtzdale Bank was a private institution owned by W. H. Dill, who also presided over the First National Bank of Clearfield; it suspended immediately upon learning of the Clearfield bank's failure, which then triggered a run/agitation by depositors.

Events (4)
1. September 30, 1891 Run
Cause
Local Banks
Cause Details
The suspension of the bank and its affiliate in Clearfield caused a frantic run and riotous behavior by local miners.
Measures
Police were called to beat back depositors with clubs to prevent the bank from being demolished and looted.
Newspaper Excerpt
Word spread rapidly, and before long several hundred depositors were on the streets. ... The tide and pressure before the doors becoming so great that a strong guard of policemen was finally placed there and ordered to beat the howling depositors back with clubs
Source
newspapers
2. September 30, 1891 Suspension
Cause
Correspondent
Cause Details
The bank suspended immediately upon learning that its related institution, the First National Bank of Clearfield, had failed.
Newspaper Excerpt
The Houtzdale Bank closed its doors at 10:30 yesterday morning. ... Upon opening the bank yesterday McGrath had occasion to telephone the First National concerning a check and was astonished to learn it had closed. He at once closed his bank
Source
newspapers
3. October 1, 1891 Other
Newspaper Excerpt
President Dill and Cashier McGrath were arrested tonight upon the petition of one of the depositors, and gave bail in the sum of $2,000.
Source
newspapers
4. October 1, 1891 Receivership
Newspaper Excerpt
This afternoon Judge Krebs appointed George W. Dickey and John Beyer receivers of the Houtzdale Bank, and they now have charge of that institution.
Source
newspapers

Newspaper Articles (19)
1. October 1, 1891 The Record-Union Sacramento, CA
Article from The Record-Union, October 1, 1891

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BANK CLOSED DOWN. Unable to Stand the Strain of a Heavy Run. CLEARFIELD (Pa.), Sept. 30.-The First National Bank of Clearfield closed its doors this morning. An unprecedented run on Saturday, Monday and Tuesday, amounting to nearly $40,000, made it impossible to continue business, and therefore the bank suspends payment. It is thought that the bank will pay in full. HOUTZDALE (Pa.), Sept. 30.-There is intense excitement here to-night over the closing of the Dill Bank at Clearfield and trouble here with the Houtzdale Bank. The wildest rumors are floating about regarding the latter institution, though Cashier McGrath is quoted as stating that the bank will pay dollar for dollar. Hundreds of miners are parading the streets or gathering at street corners, and trouble is feared every moment with the Huns and Slavs who had their all in the bank. The deposits at the First National Bank at the time of the suspension were about $100,000. President Dill says the depositors of both institutions will be paid dollar for dollar. The Houtzdale Bank trouble was caused by the defalcation of Teller Hamilton, a short time ago.

2. October 1, 1891 Pawtucket Tribune Pawtucket, RI
Article from Pawtucket Tribune, October 1, 1891

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MINERS OUT OF POCKET. Closing of a Bank Creates a Big Sensation in a Mining Town. HOUTZDALE, Pa., Oct. 1.-The Houtzdale bank was closed yesterday. The president, W. H. Dill, is also president of the First National bank of Clearfield. Many secret and beneficial associations, the borough and several township treasurers are depositors in various sums aggregating many thousands of dollars. The savings of Hungarian and Swede miners that are locked up in the bank aggregate $70,000. Deposits were received as late as yesterday morning. The excitement is intense and were it believed that any considerable amount of money was in the bank, nothing could prevent the excited Slavs from breaking in its doors. The streets were thronged with miners. Yesetrday was also pay day and a package of about $30,000, sent from Philadelphia by the Berwind Coal company, havIng been sent in the name of the Houtzdale bank, the company's paymaster could not get possession of the money. This added greatly to the excitement. CLEARFIELD, Pa., Oct. 1.-The First National bank of this place closed its doors yesterday. There has been a run on it for a long time.

3. October 1, 1891 The Evening Herald Shenandoah, PA
Article from The Evening Herald, October 1, 1891

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CLOSED ITS DOORS. The Houtzdale, Pa, Bank Suspends Excited Depositors. HOUTZDALE, Pa., Oct. 1.-The Houtzdale Bank closed its doors at 10:80 yesterday morning. W. H. Dill of Clearfield owned the bank and was its president, with John B. McGrath of Houtzdale, cashier. W. H. Dill is also president of the First National Bank of Clearfield, Pa., which closed its doors at the same time. The Houtzdale bank has done a large business in the way of deposits. Individual deposits range from $13,000 down, while many secret and beneficial associations, the borough and several township treasurers are depositors in various sums, aggregating many thousands of dollars. The savings of Hungarian and Swede miners that are locked up in the bank aggregate $70,000. The excitement is intense and were it believed that any considerable amount of money was in the bank, nothing could prevent the excited Slavs from breaking in the doors. The streets are thronged with miners. Cashier McGrath says that everything is correct in the bank and that if the securities on which the money deposited in the Houtzdale Bank, sent to the Clearfield Bank, are as valuable as he presumed them to be, the depositors will lose nothing.

4. October 1, 1891 The Wilmington Daily Republican Wilmington, DE
Article from The Wilmington Daily Republican, October 1, 1891

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EXCITED DEPOSITORS. he Houtzdale and Clearfield Banks Close Their Doors. HOUTZDALE, Pa., Oct. 1.-The Houtzdale bank has closed its doors. W. H. Dill, of Clearfield, owned the bank and was its president, with John B. MoGrath, of Houtzdale, cashier. W. H. Dill is also president of the First National bank of Clearfield, Pa., which has also closed its doors. The Houtzdale bank has done a large business in the way of deposits. Individual deposits range from $13,000 down, while many secret and beneficial associations, the borough and several township tréasurers are depositors in various sums aggregat'ne many thousands of dollars. The savings of the Hungarian and Swede miners that are locked up in the bank aggregate $70,000. Deposits were ! eceived three hours before the suspension. The excitement is intense, and were it believed that any considerable amount of money was in the bank nothing could prevent the excited Slavs from breaking in its doors. The streets are thronged with miners. A package containing about $30,000,sent from Philadelphia by the Berwind Coal company, having been sent in, the name of the Houtzdale bank, the company paymaster could not get possession of the money. This added greatly to the excitement. Cashier McGrath says that everything is correct in the bank, and the depositors will lose nothing. Cashier McGrath has made an assignment to John Beyer, and will ask the court to appoint a receiver should the president of the bank not concur in the assignment.

5. October 1, 1891 The Sun New York, NY
Article from The Sun, October 1, 1891

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COULDN'T STAND THE RUN. The First National Bank of Clearfield, Pa., Compelled to Close Its Doors. CLEARFIELD. Pa., Sept. 30.-The First National Bank of Clearfield, of which William H. Dill is President. closed its doors this morning. President Dill authorizes the following: An unprecedented run on Saturday. Monday. and Tuesday on the First National Bank of Clearfield. amounting to nearly $40,000, made it impossible to continue business, and, therefore. the bank suspends payment." There has been a continuous run on this bank since December last. This was 00casioned by the fact that A. F. Boynton, formerly Vice-President of the bank, sold his stock. As a brother-in-law of the President this created distrust and made a run. HOUTZDALE, Pa.. Sept. 30.-There is intense excitement here to-night over the closing of the Dill Bank at Clearfield, and the trouble here with the old Houtzdale Bank. Hundreds of miners are parading the streets or gathering at the street corners, and trouble is feared every moment with the Huns and Slavs, who have their savings in the bank. President Dill says the depositors of both institutions will be paid dollar for dollar. The Houtzdale Bank trouble was caused by the defalcation of the teller. W. B. Hamilton. who is now in jail, charged with embezzling $45,000.

6. October 1, 1891 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, October 1, 1891

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EMBARRASSED BANKS. Two Related Institutions in Pennsylvania on the Verge of Ruin. CLEARFIELD, Pa., Sept 30 -The First National bank of Clearheld closed its doors this morning. An unprecedented run on Saturday, Monday and Tuesday. amounting to $40,000, made it impossible to continue business, and the bank suspends payment. It is thought the bank will pay in full. HOUTZDALE, Pa., Sept. 30.-There is intense excitement here tonight over the closing of the Dill bank at Clearfield and trouble here with the Houtzdale bank. the wildest rumors are floating about regarding the latter institution, though Cashier McGrath is quoted as stating that the bank will pay dollar for dollar. Hundreds of miners are parading the streets or gathering at street corners, and trouble is feared every moment with the Huns and Slavs who had their all in the bank. The deposits of the bank at the time of its suspension were about $100,000. President Dill says the depositors of both institutions will be paid dollar for dollar. The Houtzdale bank trouble was caused by the defalcation of Teller Hamilton a short time ago.

7. October 2, 1891 The Helena Independent Helena, MT
Article from The Helena Independent, October 2, 1891

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PR HELENA. MONTANA. FRIDAY MORNING, OCTOBER 2, 1891 NORWOOD'S PLAN. FURIOUS DEPOSITORS. " MADE HARDING WAS MURDERED Tremendous Excitement Over Two Bank bstitute Proposed for the Alliance Failures in Pennsylvania. Sub-Treasury Scheme. A HOUTZDALE, Pa., Oct. 1.-Excitement TA, Gn., Oct. 1.-Thomas M. Norover the suspension of the Garfield and wood, ex-United States Senator from sh Attempt The Woodchopper Killed by a Blow Houtzdale banks continues. When the deGeorgin, by invitation of the legislature, Em positors were informed that they were From a Heavy Car addressed the members last night on the likely to receive less than 50 per cent. of general question of the finances and curPin. their money the lower classes formed in rency of the United States. He advanced a new plan for banking, declaring against the squads and shouted execrations and threats present system. His plan is for congress to against the officers that would certainly direct the secretary of the treasury to prehave been put in execution had the latter 1 if Dynam In Fear of Some Neighbors, Owing pare a sufficient number of legal tender been found. A large delegation of Bri notes of convenient denominations, which, to Testimony He Had Hontzdale citizens called on President Dill added to existing currency, will give $30, at Clearfield to-night and demanded and Given. $40, or $50 per capita; the treasurer shall pleaded with him that he make some BATIShold at least 25 per cent of the issue in coin, factory statement. They pointed out that gold and silver. to redeem the notes. Northe two towns were actually threatened wood preposes to readjust and equalize the with financial ruin, and other disasters in The Penrose Case Not Yet Finished-NarMiscalcu ever circulation of currency in this way: Each the future from private individuals were to Liber row Escape From Death in a state, on demand, shall receive of legal be feared unless he made Home sort of a Butte Mine. tonder an amount which, added to the exstatement showing what he could and isting circulation, will make the would do in paying the vast army of deposamount per capita decided upon itors of the two banks. To all these pleadby congress. This shall be used ings President Dill returned answer that he by each state according as the people deterVIENNA BUTTE, Oct. 1.-[Special.]-- coroner's was all right and the banks were all right the mine; that is, in banking, or be let by the arrived i inquest was begun to-day on the body of and if the depositors stood by him they the state to individuals. Land shall be one of would be all right. Luke Harding, found yesterday in his Prague, t the securities and each state shall lend on the This afternoon receivers for the Houtzthe news cabin which had been almost destroyed by its own products. Thus the natural rewith dale bank were appointed and they are all over fire the night before. Examination by the sources of the state would be doveloped and now in charge. Bank Examiner Miller tary its wealth increased to the benefit of every county physician revealed a fracture of the the news took possession of the Clearfield der, citizen. Each state should set aside not skull and a piece of broken iron driven into bank. At the time of suspension exagerate ) nbless than 10 per cent. of its legal tenders to the Houtzdale bank had deposits of the brain. A car pin WAS found in the ruins tion. Th protect its citizens against financial crises ger$200,000 but there WAS less than $60,000 in and in the opinion of the doctor Harding tempt wa and squeezes. With millions loaned the Neil the vaults. This afternoon and to-night was murdered by a blow from the pin and states would receive annually much interest blow up t affairs have become alarming. Men and emthe oabin then robbed and set on fire 60 as with which a sinking fund could be estabwomen clamored at the doors in vain and suburb d d he lished, and in time the funded debt paid pressure before the doors becamo BO great to conceal the murder. The inquest will be have occu off. and besides the state could in R fow orethat a strong guard of policemen concluded to-morrow, when it is thought train pas years discontinue taxation, except county was finally placed there and ordered additional facts will be brought out. Some road men and municipal. to beat the howling depositors back uptime ago Harding expressed fears that he sins as th Norwood's plan, which is n subtitute for with clubs, AB it was feared the bank are the alliance sub-treasury plan, avoids fedwould be demolished and looted. Presiwould be murdered by parties residing near ing a bon and eral action, each state lends to farmers, on dent Dill and Cashier McGrath were arhim, because of testimony he gave in a trial appearing ited land or its own special products, at low inrested to-night upon petition of one deposiabout a year ago. He told neighbors that design. terest. tor, and gave bail in the sum of $2,000. they parties had made threats against him. Two Official

8. October 2, 1891 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, October 2, 1891

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MOBS HOWLING AT THE DOORS. Clearfield and Houtzdale Banks Wrecked by the President. CLEARFIELD, Pa., Oct. 1.-Excitement here concerning the First National bank failure was intensified last night when the condition of things at Houtzdale was learned. The Houtzdale bank is a private concern bought by Dill last spring. When Dill took charge he placed John B. McGrath, in whom the community had the utmost confidence, in charge as cashier. This at once stimulated business, and on the first day over $9,000 was received in deposits, mostly coming from poor miners. At that time the deposits did not reach $80,000, but through McGrath's well-known integrity and popularity they grew until yesterday morning they reached $200,000. Upon opening the bank yesterday McGrath had occasion to telephone the First National concerning a check and was astonished to learn it had closed. He at once closed his bank, but had already received several deposits. Word spread rapidly, and before long several hundred depositors were on the streets. The ignorant Huns and Slavs, who have deposits running from $200 to $2,000, grew frantic when they learned their money was in danger. The larger depositors at once sought Cashier McGrath, and he informed them that although the deposits reach $200,000, less than $30,000 paper and currency was in the bank when it closed. He said President Dill had removed a great amount of money, giving as his reason that the Houtzdale vault was not secure and he would put it in the Clearfield vault. Many of Dill's friends of yesterday are his enemies today. It is said he has been borrowing right and left. Only a few days ago his father-in-law, Jonathan Boynton. advanced $20,000 on the representation that it would fix everything up and put the bank on its feet. HOUTZDALE, Pa., Oct. 1.-The excitement over the suspension of the Clearfield and Houtzdale banks continues. When the depositors were informed that they were likely to receive less than 50 per cent. of their money, the lower classes formed in squads and shouted execrations and threats against the officers that would certainly have been put in execution had the latter been found. A large delegation of Houtzdale citizens called on President Dill at Clearfield tonight and demanded and pleaded with him that he make some satisfactory statement. They pointed out that the two towns were actually threatened with financial ruin, and other disasters in the future from private individuals were to be feared unless he made some short statement showing what he could and would do in paying the vast army of depositors of the two banks. To all these pleadings Dill returned answer that he was all right and the banks were all right, and if the depositors stood by him they would be all right. This afternoon receivers for the Houtzdale bank were appointed and they are now in charge. Bank Examiner Miller took possession of the Clearfield bank. At the time of the suspension the Houtzdale bank had deposits of $200,000, but there was less than $60,000 in the vaults this afternoon, and tonight affairs have become alarming. Men and women are clamoring at the doors in vain. The tide and pressure before the doors became so great that a strong guard of policemen were finally placed there and ordered to beat the howling depositors back with clubs, as it was feared the bank would bedemolished and looted President Dill and Cashier McGrath were arrested tonight upon the petition of one of the depositors, and gave bail in the sum of $2,000. WASHINGTON CITY, Oct. 1.-Bank Examiner Drew has been ordered to take charge of the First National bank, of Clearfield, Pa., reported to be in financial trouble.

9. October 2, 1891 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, October 2, 1891

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EXCITED DEPOSITORS Making It Warm for the Officials of the Two Defunct Banks. HOUTZDALE, PA., Oct. 1.-The excitement over the suspension of the Clearfield and Houtzdale Banks continues. When depositors were informed they were likely to receive less than 50 per cent of their money, the lower classes formed in squads and shouted execrationa and threats against the officers that would have cortainly been put in execution had they been found. A large delegation of Houtzdale citizens called on President Dill at Clearfield to-night and demanded and plead with him that he make some satisfactory statement. They pointed out that the two towns were actually threatened with financial ruin and other disasters in the future from private individuals were to be feared, unless he made some sort of statement showing what he could and would do in paying the vast army of depositors in the two banks. To all these pleadings, President Dill returned the answer, that he was all right and the banks were all right, and if the depositors stood by him they would be all right. This afternoon Judge Krebs appointed George W. Dickey and John Beyer receivers of the Houtzdale Bank, and they now have charge of that institution. Bank Examiner Miller took possession of the Clearfield bank. At the time of the suspension the Houtzdale bank had deposits of $200,000, but there was less than $60,000 in the vaults. This afternoon and to-night affairs became alarming, the financial cloud becoming darker every hour with every new development. Men and women clamored at the doors in vain, the tide and pressure before the doors becoming 80 great that a strong guard of policemen was finally placed there and ordered to beat the howling depositors back with their clubs, as it was feared the bank would be demolished and looted. President Dill and Cashier McGrath were arrested to-night upon the petition of one of the depositors and gave bail in the sum of $2,000.

10. October 2, 1891 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, October 2, 1891

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PUBLISHED DAILY AND TRI-WEEKLY At the Gazette Beild'g., 310 & 312 Prince at. 00 86 Daily one year 3 00 Six months 50 One month 4 00 Tri-Weekly one-year 2 00 Six,months 1 00 Three'months Contract advertisors will not be allowed to exceed their space unless the excess is paid for at translent rates, and under no circrunstances will they be allowed to advertise other.than their legitimate business in the space contracted for. Marriage and death notices must be paid for in edvence. 20 olutions in memorium, of thanks, tributes of respect, r solutions adopted by societies or persons, unleas 01 public concern, will only be printed in this paper 88 advertisements. The GAZETTE office in connected with the Telephone Exchange. Advertisements, orders for the paper, news, or any information or business can be sent by telephone. (Entered at the Positifice, Aioxandria, Virginia, BE second-class matter.l Exciting Scenes About a Bank. The excitement at Olem:f edd, Pa, concerning the First National Bank failure was Intensified Wednesday night when the condition of things at Houtzdale WES learned. The Homedale Bank is a private concern, which was tought by Dill last spring. Before he purchased it the people were dis trustful, as the former company had been dolag a locse buslness, having lost $40,000 through the defalcation of Teller William Hamliton, who is now In the When DIII took charge be placed John B McGrath, a justice of the peace, la whom the whole community had the confidence, In charge as cashier. Tais at once stimulated business, and on the first day over $9,000 was received in deposite, mostly coming (rom poor miners. At that time the deposits did not reach $60,000, but through McGrath's well known lategrity and popularity they grew until Wednesday morning they reached $200,000. Upon opening the bank Wednesday McGrath had receive to telephone the First National Bank concerning as check, and was astounded is learn that it had closed. He at once closed his bank, but had a ready recelved several deposite. The word spread apldly, and, before long, several hundred depositors were on the streets. The ignorant Hucs and Blave, of whom there are many, who have deposits running rom $200 to $2,000. grew frantic when they learned that their money FBS in danger. The larger depositors at once sought Cash ler McGrath. and he informed them that although the deposite reach $200,000, less than $60,000, paper and currency, was in the bank when It closed. He said that President DIII had removed a great amount of the money, giving as his reason that the Houizdale vauit was not secure, and that he would put it in the Clearfield ysult. When it became known that they were likely to get less than 50 cents on the dollar, the depositors grew wild, Mr. Dill had been eafering to the mining class in many and various ways for the past five years. In 1886 he gave a miners' ploalo, bringing over two thousand men, women and oblidren from Hou:zdale to Clearfield, and entertaining them in the large park there in a bandsome manner. This end many other 800 caused them to look upon him Be a sort of philanthropiat, and now they charge him with planning this sobame for years. A delegation of Honizdale depositors reached Clearfield Wednesday night and saw Dill, but be gave no satisfaction except to Bay that if they would stand by him they would come out all right. They asked him to make an assignment of the Houtzdale Bank to them or appoint a receiver. Many of them talk of instituting criminal proceedinga, but this is not likely jast now. It is said that Dill has been borrowing right and left. Only a few days ago his father-in-law, Jonathan Boynton, advanced $20,000 to him on the representation that it would fix everything up and put the bank on its feet. Bank Examlner Miller arrived Wednes. day morolog and has charge of the bank. He has nothing to say for publication, but the people of Clearfield think the depositors of the First National will get their money.

11. October 2, 1891 Evening Journal Wilmington, DE
Article from Evening Journal, October 2, 1891

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PRESIDENT DILL NEARLY MOBBED. The Hungarians at Houtzdale Maddened by the Loss of Their Money. HOUTZDALE, Pa., Oct. --This town is still feverish with excitement over the Houtzdale bank failure. All day long angry crowds thronged the streets in the vicinity of the closed bank, and at times an outburst was feared. President Dill is condemned in the strongest terms. Cashier McGrath and Dill have both been arrested. Dill was arrested on a charge of embezzlement preferred by Elizabeth Dilk, a depositor in the Houtzdale bank. Dill gave bail in $2,000. As Dill was leaving the court house a half drunken Hungarian, whose money is locked up in the bank, grabbed him roughly by the arm. Five other Hungarians jumped into the fray, quickly followed by as many officers. Dill was roughly handled before he escaped to his house. The house is guarded by police officers, who are kept busy in driving the half drunken Huns away. An order has been issued to close all saloons in order to prevent the furious Huns from obtaining liquor. Cashier McGrath estimates the liabilities at about $200,000 and says that in case they get nothing from Clearfield they will be able to pay fifty cents on the dollar. The following statement was dictated by Bank President Dill lastevening: "Family treachery on the part of my brother-inlaw, A. F. Boynton, was the cause of the assignment and failure. At the time I was elected president of the bank I also found that J. B. Nevling, former teller, later cashier, was a traitor to the business interests of the bank. I demanded his resignation, and since that time there has been a persistent run on the bank, and on Tuesday last I considered it unwise to keep the bank open. Depositors in both banks will be paid in full." Bank Examiner Miller is in charge of the bank.

12. October 2, 1891 The Morning News Savannah, GA
Article from The Morning News, October 2, 1891

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ABANK'SSTRANGE WRECK MINERS ACCUSE THE PRESIDENT OF ROBBING THEM. He Gave Them Picnics and Took Other Means to Win Their Confidence and Deposits, and shut His Doors When He Had Ecooped in $200,000. PHILADELPHIA, PA., Oct. 1.-A special dispatch from Clearfield says; "The exeitement here concerning the First National was of at the Bank condition failure things intensified last Houtzdale night when was learned. The Houtzdale bank is a private concern which was bought by Dill last Before he spring. purchased the former it the people were distrustful, as company had been doing a loose business, having lost $40,000 through the defalcation of Teller William Hamilton, who is now in the penitentiary. When Dill took charge he placed John B. McGrath, a justice of the peace, in whom the whole community had the utmost confidence, in charge as cashier. STIMULATED BUSINESS "This at once stimulated business and on the first day over $9,000 was received in deposits, mostly coming from poor miners. At that time the deposits did not reach $60,000, but through McGrath's well-known integrity and popularity, they grew until yesterday morning they reach $200,000. Upon the bank yesterday McGrath had a Bank occasion opening concerning to telephone check the and First was astounded He National at to learn that it had closed. once closed his bank but had already received several deposits. DEPOSITORS SURROUND THE BANK. "The news spread rapidly, and before long several hundred depositors were in the streets. The ignorant Huns and Slavs, of whom there are many, who have deposits running from $200 to $2,000, grew frantic when they heard that their money was in danger. The larger depositors at once sought Cashier McGrath and he informed them that although the deposits reach $200,000, less than $60,000 in paper and currency was in the bank when it closed. He said that President Dill had removed a great amount of money, giving as his reason that the Houtzdale vault was not secure, and that be would put it in the Clearfield vault. THE CROWD GROWS WILD. 'When it became known that they were likely to get less than 50 cents on the dollar, the depositors grew wild and some of the expressions were fearful to contemplate. Dili had been catering to the mining class in many, and various, ways for the past five years. In 1886 he gave the miners a picnic, bringing over 2,000 men, women and children from Houtzdale to Clearfield, and entertaining them in a large park here in a handsome manner. This and many other like acts caused them to look upon him as a sort of philanthropist, and now they charge him with planning this scheme for years. DILL GIVES NO SATISFACTION. "A delegation of Houtzdale depositors arrived here last night and saw Dill, but he gave them no satisfaction, except to say that if they would stand by him they would come out all right. This is all he said, and they cannot get any consolation from it. To-day they have asked him to make an assignment of the Houtzdale bank to them or appoint a receiver. Many of them talk of instituting criminal proceedings, but this is not likely just now. In reference to the Clearfield bank there is no change excent that most of the sympathy that was expressed yesterday for Dill is to-day against him bitterly. Many of his friends of yesterday are enemies to-day. A HEAVY BORROWER. "It is said that he has been borrowing right and left. Only a few days ago bis father-in-law, Jonathan Boynton, advanced $20,000 to him on representation that it would fix everything up and put the bank on ite feet. Bank Examiner Miller arrived this morning and has charge of the bank. He has nothing to say for publication, but people here think that the de; ositors of the First National will get their money," M'GRATH AND DILL ARRESTED. A special to the / ress from Phillipsburg, Pa., says: "John B. McGrath, cashier of the Houtzdale Bank, was arrested to-night charged with embezzlement. A warrant was also issued for the arrest of William H. Dill. John Beyer and George W. Dickey have been acpointed receivers for the Houtzdale Bank. The bank bad $200,000 on deposits. In Phillipsburg the banks were prepared for a heavy run, and the Hungarians drew out considerable money. It is not likely that the trouble will extend any further at present."

13. October 2, 1891 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, October 2, 1891

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BUSTED BANKS. Pennsylvania and Illinois Depositors Fare III. HOUTZDALE, Pa., Oct. 1.- The excitement over the suspension of the Clearfield and Houtzdale banks continues. When depositors were informed they were likely to receive less than 50 per cent of their money, the lower classes formed in squads, and shouted execratiens and threats against the officers that would have certainly been put in execution had they been found. A large delegation of Houtzdale citizens called on President Dill at Clearfield to-night and demanded and pleaded with him that he make some satisfactory statement. They pointed out that the two towns were actually threatened with financial ruin, and other disasters in the future were to be feared unless he made some sort of statement showing what he could and would do in paying the vast army of depositors in the two banks. To all these pleadings President Dill returned the answer that he was all right and the banks were all right, and if the depositors stood by him they would be all right. This afternoon Judge Krebs appointed George W. Dickey and John Boyer receivers of the Houtzdale bank and they now have charge of the insti-

14. October 2, 1891 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, October 2, 1891

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Depositors Threaten the Officers of the Clearfield and Houtzdale Banks. HUNS AND SLAVS GROW FRANTIC. Dill Removes a Great Deal of Money, Pretending That the Vault $1 By Telegraph to the NEWS.I 'SHNVO GALL The Excitement Over Their Suspen. sion Continues. HOUTZDALF, Pa., Oct. - 1.- The ex. citement over the suspensions of the the Clearfield and Houtzdale banks continues. When the depositors were informed that they were likely to receive less than 50 per cent. of their money the lower classes formed in puw should pen spenbs threats against the officers, that would R certainly have been put in execution 0 had the latter been found. A large delegation of Houtzdale citizens called on President Dill at Clearfield tonight and demanded and pleaded with him that he make some satisfactory statement. They pointed out that the two towns were actually threatened with financial ruin, and 3 other disasters in future from private . individuals were to be feared unless he D made some sort of a statement, show. : ing what he could and would do in P paying the vastarmy of depositors even *I of the two banks. To all these plead" ings President Dill returned the an. *4 swer that he was all right and the -1 banks were all right, and if the depos. itors stood by him they would be all right. p This afternoon receivers for the Houtzdale Bank were appointed, and they are now in charge. Bank Examiner Miller took possession of the 'I Clearfield Bank. At the time of the is suspension the Houtzdate Bank had : deposits of $200,000, but there was less : than $61,000 in the vaults. This afteru noon and tonight affairs have become at alarming. Men and women clamored 'I at the doors in valn, the tide and presB( sure before the doors becoming 80 great that a strong guard of policemen was finally placed there and ordered to beat

15. October 2, 1891 The Record-Union Sacramento, CA
Article from The Record-Union, October 2, 1891

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Special to the RECORD-UNION. HOUTZDALE (Pa.), Oct. 1.-The excitement over the suspension of the Clearfield and Houtzdale banks continues. When the depositors were informed that that they were likely to receive less than fifty per cent. of their money, the lower classes formed in squads and shouted execrations and threats against the officers, that would certainly have been put into execution had the latter been found. A large delegation of Houtzdale citizens called on President Dill at Clearfield to-night, and demanded and pleaded with him that he make some satisfactory statement. They pointed out that the two towns were actually threatened with financial ruin, and (other disasters in future from private individuals were to be feared unless he made some sort of statement, showing what he could and would do in paying the vast army of depositors in the two banks. To all these pleadings President Dill returned the answer that he was all right and the banks were all right, and if the depositors stood by him they would be all right. This afternoon receivers for the Houtzdale Bank were appointed, and they are now in charge. Bank Examiner Miller took possession of the Clearfield Bank. At the time of the suspension the Houtzdale Bank had deposits of $200,000, but there was less than $60,000 in the vaults. This afternoon and to-night affairs have become alarming. Men: and women clamored at the doors in vain, the tide and pressure before the doors becoming SO great that a strong guard of policemen was finally placed there, and ordered to beat the howling depositors back with clubs, as it was feared that the bank would be demolished and looted. President Dill and Cashier McGrath were arrested to-night upon a petition of one depositor, and gave bail in the sum of $2,000. THE SITUATION AT CLEARFIELD. CLEARFIELD (Pa.), Oct. 1.-Excitement here concerning the First National Bank failure was intensified last night when the condition of things at Houtzdale was learned. The Houtzdale Bank is a private concern, bought by Dill last spring. When Dill took charge he placed John B. McGrath, in whom the community had the utmost confidence, in charge as chashier. This at once stimulated business, and on the first day over $9,000 was received in deposits, mostly coming from poor miners. At that time the deposits did not reach $60,000, but through McGrath's well-known integrity and popularity they grew, until yesterday morning they reach $200,000. Upon opening the bank yesterday McGrath had occasion to telephone the First National Bank concerning a check, and was astounded to learn that it had closed. He at once closed his bank, but had already received several deposits. Word spread rapidly, and before long several Hundred depositors were on the streets. Ignorant Huns and Slavs, who have deposits running from $200 to $2,000, grew frantic when they learned that their money was in danger. The larger depositors at once sought Cashier McGrath, and he informed them that although the deposits reach $200,000, less than $30,000 in paper and currency was in the bank when it closed. He said President Dill had removed a great amount of money, giving as his reason that the Houtzdale vault was not secure, and he would put it in the Clearfield vault. Many of Dell's friends of yesterday are enemies to-day. It is said that he has been borrowing right and left. Only a few days ago his father-in-law, Jonathan Boynton, advanced $20,000 on representation that it would fix everything up and put the bank on its feet.

16. October 2, 1891 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, October 2, 1891

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ANGRY DEPOSITORS. The Excitement Over the Clearfield Bank Failure Continues-The Lower Classes Formed in Squads and Uttered Execrations-A Police Guard Placed Around the Bank. HOUTZDALE, Pa., Oct. 1.-The excitement over the suspensions of the Clearfield and Houtzdale banks continues. When depositors were informed they were likely to receive less than 50 per cent. of their money the lower classes formed in squads and shouted execrations and threats against the officers that would certainly have been put in execution had the latter been found. A large delegation of Houtzdale citizens called on President Dill at Clearfield tonight and demanded and pleaded with him that he make some satisfactory statement. They pointed out that the two towns were actually threatened with financial ruin and other disasters in the future from private individuals were to be feared unless he made some sort of a statement showing what he could and would do in paying the vast army of depositors of the two banks. To all these pleadings President Dill returned the answer that he was all right, and if the depositors stood by him they would be all right. This afternoon receivers for the Houtzdale bank were appointed and they are now in charge. Bank Examiner Miller took possession of the Clearfield bank. At the time of the suspension the Houtzdale bank had deposits of $200,000, but there was less than $60,000 in the vaults. This afternoon and to-night affairs have become alarming. Men and women clamored at the doors in vain. The tide and pressure before the doors becoming so great, a strong guard of policemen was finally placed there and ordered to beat the howling depositors back with clubs, as it was feared the bank would be demolished and looted. President Dill and Cashier McGrath were arrested to-night upon the petition of one of the depositors, and gave bail in the sum of $2,000.

17. October 3, 1891 The Morning Call San Francisco, CA
Article from The Morning Call, October 3, 1891

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THREE TIMES ARRESTED. President Dill of the Clearfield Bank Again in Custody. CLEARFIELD (Pa.), Oct. 2.-President Dill of the defunct Houtzdale and Clearfield banks was arrested again to-night, making the third time to-day. The last arrest was made on a warrant sworn out in Houtzdale charging him with the embezzlement of $85,000. He secured bail for the other charges, but has not been able to secure another dollar bail and is now at his home closely guarded by officers. It is believed he will go to jall some time to-night, but the officers say they will try and keep him in the house until the arrival of United States District Attorney Lyon and United States Marshal Barrah to-morrow morning. When the news spread that Mr. Dill was arrested troubla with depositors broke out anew, and the excitement to-night was almost as great as when the banks first failed. It was generally thought no arrests would be made-at least till later on, and the Bank Examiner, who is in charge of the Clearfield Bank, and Receivers Byers and Dickey of Houtzdale were allowed to go quietly on with their work of investigating the books of the bank, when they stumbled on accounts and entries which caused the arrest. The Huns and Slavs are still wild over their losses, and to-night the late President was burned in effigy. Gunpowder was first made by a monk at Cologne in 1330.

18. October 3, 1891 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, October 3, 1891

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THE BANK ROBBERS. Dill, the Pennsylvania Wrecker, Held by Officers. MINERS STILL THREATENING. Collapse of a Boston Banking FirmThe Chrisman, Ill., Financiers Gambled Away Money in Chicago. CLEARFIELD, Pa., Oct. 2.-President Dill, of the defunct Houtzdale and Clearfield banks, was arrested again tonight, making the third time today. The last arrest was made on a warrant sworn out in Houtzdale, charging him with the embezzlement of $85,000. He secured bail and is now at his home, closely guarded by officers. It is believed he will go to jail some time tonight, but the officers say they will try and keep him in the house until the arrival of United States District Attorney Lyon and United States Marshal Barrah tomorrow morning. When the news spread that Dill was arrested trouble with the ,depositors broke out anew, and the excitement tonight is almost as great as when the banks first failed. It was generally thought no arrests would be made, at least until later on, and the bank examiner who is in charge of Clearfield bank and Receivers Byers and Dickey, of Houtzdale, were allowed to go quietly on with their work investigating the books of the bank. when they stumbled on accounts and entries which caused their arrest. The Huns and Slave are still wild over their losses, and tonight the late president was burned in effigy. Dill and Cashier McGrath, of the Houtzdale bank, were arrested last night on a charge of embezzlement and gave bail this morning. Dill was at once rearrested on a charge sworn out by the national bank examiner and held in $25,000 bail. The report that Dill had made an assignment is incorrect, but judgments aggregating $30,000 have been entered against him. WASHINGTON CITY, Oct. 2.-Comptroller of the Currency Lacey has received a telegram from Bank Examiner Miller, recommending that the First National bank, of Clearfield, Pa., be placed in the hands of a receiver. The comptroller says he will appoint one.

19. February 5, 1892 The World Martinsburg, WV
Article from The World, February 5, 1892

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DILL DISCHARGED The Clearfield Banker Escapes Further Prosecution. THE BANK IS HELD RESPONSIBLE. Judge Mayer Ordered , Verdict of "No Guilty, but Pay the Costs." Clearfield Depositors Despondent and Houtzdale Depositors Elated. CLEARFIELD, Pa., Feb. 5.-The trial of President Dill, of the First National bank of Clearfield and of the Houtzdale bank, came to a sudden ending yesterday. From the nature of the evidence Judge Mayer took the case from the jury and ruled that the First National bank was responsible for the amount of the draft, and that Dill could not be convicted in the light of the evidence adduced. The judge directed that a verdict of "not guilty, but pay the costs," be entered on the record, and Dill was discharged. Attorney Snyder then made a motion for Dill's discharge from answering the charges of embezzlement on the ground that two terms of court had elapsed and no bill of indictment had been found. The order asked for was granted, and Dill was discharged on all the commonwealth cases on the docket in this county. The depositors of the Clearfield First National bank are much exercised over Judge Mayer's rulings, while the Houtzdale depositors are much elated. The civil suit to recover the $80,000 by the Houtzdale bank receivers will be tried next week.