Mercantile Trust Company (Pittsburg, PA)

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BANKS WILL FAIL TO OPEN TODAY Pittsburg, September 26.-The Land Trust company and the Mercantile Trust company, both of this city, will not open their doors tomorrow, arrangements having been made tonight whereby they will make assignments tomorrow to State Banking Commissioner W. H. Smith. Deputy State Bank Examiner James L. White is in charge of both institutions as temporary receiver. Lack of money is given as a reason for the assignments, a crisis being reached on Saturday when a run was made on the Mercantile Trust company. The Land Trust company, with a capital of $700,000, arranged about a year ago to take over the Mercantile Trust company, which has a capital stock of $750,000, but was unable to meet all the obligations to complete the merger. Two weeks ago Examiner White found the institution did not have the required reserve. The company was given an Apportunity to bring the amount up to requirements, but the run on the Mercantile Trust company on Saturday depleted the resources and it was decided to make the assignments. State Bank Examiner White stated that all the depositors will be paid in full.

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TWO TRUST COMPANIES WILL CLOSE THEIR DOORS Pittsburg, Pa., Sept. 26. 1 The Land Trust Company and the Mercantile Trust Company both of this city, will not open their doors tomorrow, arrangements having been made tonight whereby they will make assignments tomorrow to State Banking CommisState sioner W. H. Smith. Deputy Bank Examiner James L. White is in charge of both institutions as temporary receiver. Lack of money is given as the rea. son for the assignments, a crisis being reached on Saturday when a run was made on the Mercantile Trust Company. The Land Trust Company with a capital of $700,000 arranged about a year ago to take over the Mercantile Trust Company which has a capital stock of $750,000 but was unable to meet all the obligations to complete the merger. Two weeks ago Examiner White found the institution did not have the required reserve. The company was given an opportunity to bring the amount up to requirements, but the run on the Mercantile Trust Company on Saturday depleted the resources and it was decided to make the assignments. State Bank Examiner White stated tonight that all the deposits will be. paid in full.

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RUNS DRAIN RESOURCES; PITTSBURG BANKS SUSPEND

Mercantile Trust and Land Trust Will Pay Depositors. PITTSBURG, Sept. 27.-The Mercantile Trust Company, capitalized at $750,000, and the Land Trust Company, capital $500,000, are closed today following a big run. An application will be made for a receiver and the affairs of both concerns will be wound up. State Bank Examiner James L. White asserts that there has been no crooked work and that no one will lose. There was a great run on the Land Trust Company. the cause of which is not known. Two weeks ago the bank examiners found the cash reserves of both concerns low and gave warning that they must be fixed up. The bankers say they were getting along well when the run came and hurt them badly. As they coûld not stand another run they decided on voluntarily closing.

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DEPOSITORS WILL NOT LOSE Two Pittsburg Financial Institutions Retire From Business. Pittsburg, Sept. 28.-The Land Trust company and the Mercantile Trust company, both state Institutions, did not open for business. James L. White, state bank examiner, is temporary receiver for both banks. The trust companies consolidated recently. It is said they were unable to carry out the merger and made arrangements to assign voluntarily to the state banking commission. According to the officials the depositors will be paid in full. The capital stock of the Land Trust company is $500,000, with a surplus of $100,000. The deposits approximate $800,000. The capital stock of the Mercantile Trust company is $710,000. The deposits approximate $300,000.

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RECEIVERS APPOINTED

Two Trust Companies at Pittsburg Go to the Wall. Pittsburg, Sept. 27.-The Land Trust company and the Mercantile Trust company, both state institutions, did not open for business today. James L. White, state bank examiner, is temporarily receiver for both banks. The trust companies consolidated recently. It is said they were unable to carry out the merger and made arrangements Saturday to assign voluntarily. According to the officials, the depositors will be paid in full. The capital stock of the two companies is $1,210,000.

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BANKS SUSPEND WHEN MERGER PLANNED FAILS TWO STATE INSTITUTIONS AT PITTSBURG WITH AGGREGATE DEPOSITS OF $1,100,000 GO TO THE WALL-DEPOSITORS WILL BE PAID. By Associated Press. Pittsburg. Sept. 27.-The Land Trust Company, and the Mercantile Trust Company. both state institutions, did not open for business today. Failure to carry out a merger caused these companies to assign voluntarily to the state. The capital stock of the Land Trust Company is $500,000, with a surplus of $100,000. The deposits approximate $800,000. The capital stock of the Mercantile Trust Company is $710,000. The deposits approximate $300,000. According to the bank's officials, depositors will be paid in full.

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TWO INSTITUTIONS CLOSE THEIR DOORS Pittsburg. Sept. 27.-The Land Trust company and the Mercantile Trust company, both state institutions, did not open for business today. James L. White, state bank examiner, is temporarily receiver for both banks. The trust companies consolidated recently. It is said they were unable to carry out the merger and made arrangements Saturday to assign voluntarily. According to the officials, the depositors will be paid in full. The capital stock of the two companies is $1,210,000.

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MERGER-OF BANKS ENDS IN FAILURE PITTSBURG TRUST COMPANIES GO INTO HANDS OF STATE EXAMINER. Pittsburg, Pa., Sept. 28.-The Land Trust Co. and the Mercantile Trust Co., both state institutions, did not open for business today. James' L. White, state bank examiner, is temporarily receiver for both banks. The trust companies consolidated recently. It is said they were unable to carry out their merger, and made arrangements Saturday to assign voluntarily to the state banking commission. According to the officials, the depositors will be paid in full. The capital stock of the Land Trust Co. is $500,000 with a surplus of $100,000. The deposits approximate $800,000. The capital stock of the Mercantile Trust Co. is $710,000. The deposits approximate $300,000.

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New York Mining Stocks

NEW YORK. Sept. 37.-Closing quotations on mining stocks were as follows: Allee 176 "Leadville Con Brunswick Con 1 "Little Chief 6 Comstock Tunnel 8. 28 Mexican 23 *do bonds 185 Ontaria 750 Cen, Cal. & Va 110 Ophir 115 Horn Silver 75 Sist.dard 50 Iron Silver too Yellow Jacket 110 *Offered. Two Trust Companies Close. PITTSBURG, Sept. ST.-The Land Trust company and the Mercantile Trust/company. both state institutions, did not open for business today. James L. White state bank examiner. is temporarily receiver for both banks.

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BANKS FAIL TO OPEN DOORS Bank Examiner Has Charge but Officers Say Depositors Will Get Their Money. Pittsburg, Sept. 28.-The Land Trust company and the Mercantile Trust company, both state institutions, did not open for business yesterday. James L. White, state bank examiner, S temporary receiver for both banks. It is expected the court will appoint a permanent receiver some time today. The trust companies consolidated recently. It is said they were unable to carry out the merger and made arrangements Saturday to assign voluncarily to the state banking commission. According to the officials the depostors will be paid in full. The aggregate deposits of the institutions approximate $1,100,000.

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PITTSBURG BANKS SUSPEND PAYMENT Two State Institutions, Recently Consolidated, Fail to Open for Business. Pittsburg, Pa., Sept. 29.-The Land Trust company and the Mercantile Trust company, both state institutions, did not open their doors for business today. James L. White, state bank examiner, is temporarily receiver for both banks. The trust companies consolidated recently. It is said they were unable to carry out the merger and made arrangements Saturday to assign voluntarily. According to the officials the depositors will be paid in full. The capital stock of the two companies is $2,210,000.

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PITTSBURG BANKS SUSPEND PAYMENT Two State Institutions, Recently Consolidated, Fail to Open for Business. Pittsburg, Pa., Sept. 29.-The Land Trust company and the Mercantile Trust company, both state institutions, did not open their doors for business today. James L. White, state bank examiner, is temporarily receiver for both banks. The trust companies consolidated recently. It is said they were unable to carry out the merger and made arrangements Saturday to assign voluntarily. According to the officials the depositors will be paid in full. The capital stock of the two companies is $2,210,000,

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TRUST COMPANIES FAIL Two In Pittsburg Make Assignments to Banking Commissioner. Pittsburg, Sept. 27.-The Land Trust company and the Mercantile Trust company. both of this city, did not open their doors this morning. They made assignments to State Banking Commissioner W. H. Smith. Deputy State Bank Examiner James L. White is in charge of both institutions as temporary receiver. Lack of money is given as a reason for the assignments, a crisis being reached on Saturday when a run was made on the Mercantile Trust company.

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Trust Companies Assign

Pittsburg, Pa.-The Land Trust Co. and the Mercantile Trust Co., both of this city, did not open their doors September 26. Lack of money is given as a reason for the assignments, a crisis being reached when a run was made on the Mercantile Trust Co

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TRUST COMPANIES FAIL Two In Pittsburg Make Assignments to Banking Commissioner. Pittsburg, Sept. 27.-The Land Trust company and the Mercantile Trust company, both of this city, did not open their doors this morning. They made assignments to State Banking Commissioner W. H. Smith. Deputy State Bank Examiner James L. White is in charge of both institutions as temporary receiver. Lack of money is given as a reason for the assignments, a crisis being reached on Saturday when a run was made on the Mercantile Trust company.

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TWO PITTSBURG BANKS CLOSED

Land and Mercantile Trust Companies in State Examiner's Hands. The Land Trust Company and the Mercantile Trust Company, both, State institutions in Pittsburg, did not open for business Monday. James L. White, State examiner, is temporary receiver for both banks. These companies were consolidated recently, but, it is said, they were unable to carry out the merger and made arrangements Saturday to assign voluntarily to the State banking commission. Officials say the depositors will be paid in full.

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Banks Close

PITTSBURG, Sept. 27.-The Land Trust company and the Mercantile Trust company, both state institutions, did not open for business today. James L. White, state bank examiner, is temporarily receiver for both banks. The trust companies consolidated recently. It is said they were unable to carry out the merger and made arrangements Saturday to assign voluntarily. According to the officials, the depositors will be paid in full. The capital stock of the two companies is $1,210,000.

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Receiver of the Mercantile Trust Company of Pittsburgh. au15,22,29,se5,12

THOS. J. OWEN & SON, AUCTIONEERS.

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LITTLE STORY OF TRAGEDY IN ORDER? Behind Few Line Explanation in Receiver's Petition May Be Pathetic Tale In a brief order handed down yesterday afternoon Additional Law Judge S. J. M. MeCarrell, granted Harry S. Calvert, receiver for the Mercantile Trust Company, Pittsburgh, permission to settle for $500 cash with C.G. Paul, a Pittsburgh real estate dealer and the SQUA on - $3,000

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RECEIVER FILES ACCOUNT The second and partial account of Harry S. Calvert. receiver for the Mercantile Trust Company of Pittsburgh, was filed to-day.

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LEGAL NOTICES

AUDITORS' NOTICE

In the matter of the Second and Partial Account of Harry S. Calvert, Receiver of the Mercantile Trust Company, of Pittsburgh, Pa.

NOTICE is hereby given that the undersigned who have been appointed by the Court of Common Pleas of Dauphin County, Pennsylvania, to audit the above mentioned account and make distribution in accordance with the provisions of the Act of Assembly of April 23, 1907, will sit for the purpose of their appointment on Monday and Tuesday, the 7th and 8th days of June, 1915, at 10 o'clock A. M. and 2 o'clock P. M., at the offices of James Francis Burke, Esquire, one of the Auditors, Rooms 1108-1111 Park Building, Pittsburgh, Pa., when and where all parties in interest may attend if they see fit. BENJAMIN M. NEAD. JAMES FRANCIS BURKE, Auditors.