Multiple contemporaneous articles (Nov 26, 1887) report the American Bank of Pittsburgh 'closed its doors' and 'announced that it would go into liquidation.' No run is mentioned; suspension appears voluntary/liquidation and permanent.
Events (1)
1.November 26, 1887Suspension
Cause
Voluntary Liquidation
Cause Details
Bank announced it would go into liquidation; reports state stockholders individually liable and that assets exceed liabilities; deposits had declined over years to under $80,000; capital stock $200,000.
Newspaper Excerpt
The American Bank of this city ... closed its doors this morning and announced that it would go into liquidation.
Source
newspapers
Newspaper Articles (8)
1.November 26, 1887Evening StarWashington, DC
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Article Text
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.
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.
3.November 27, 1887St. Paul Daily GlobeSaint Paul, MN
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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.
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.
5.November 27, 1887The Memphis AppealMemphis, TN
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Article Text
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.
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 ánnounced 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.
7.November 28, 1887Wheeling RegisterWheeling, WV
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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.
Bank Suspension. PITTSBURG, November 26.---The American bank, of this city, doing business in the old Penn bank building, Wood street, 1 losed 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 ali claims against it. The stockholders are individually liable. The suspension caused no excitement in financial circles. It is understood that deposits have been gradually decreasing for years until they aggregated less than $80,000. The liabilities are less than $100,000, and the assets are largely in excess of that amount.
