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Pennsylvania Petroleum. Pittsburg, Pa., 21.-Oil opened weak; prices declined to 68½, then rallied to 72, but broke again to 69. At 1 o'clock. on account of the announcement of the suspension of the Pennsylvania bank, the feeling was very much unsettled and a panicky trade ensued, and a disposition to get rid of oil prevails.
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The Pennsylvania Bank. PITTSBURG,May 22,-A more complete understanding of the exact condition of the Pennsylvania bank and a feeling that they will be able to meet all liabilities together with the concerted action of bankers last night, has had a reassuring effect and confidence to a large extent has been restored. It was feared that there would be runs on several banks reported last night as in a weak condtion, but a visit to the alleged shaky institutions today found all serene with a checking out not much greater than usual. The bankers expressed themselves as perfectly able to meet all demands made on them. The officials of the Pennsylvania bank are busy getting their affairs in shape for resumption tomorrow. Their chances were good today and tomorrow they will open their doors with $600,000 in cash on their counters. Many of the largest depositors have signified their intention of allowing their money to lay in the bank and long before the regular hour of opening this morning a number of the heaviest depositors forced their way to the side entrance and insisted on making deposits. The bank re-
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THE FINANCIAL SITUATION. GOULD ON THE OUTLOOK. NEW YORK, May, 22.-Gould is said to have proof that outside investors have been heavy buyers of Western Union. Concerning the market he has very little to say. He believes that parties with capital are anxious to get securities at present figures, and there is every reason to suppose that we have passed through the troubles. He was talking with a prominent bank officer this morning. He declares that we have nothing to fear from our associated banks, and each day brings a brighter outlook. STATE OF AFFAIRS AT PITTSBURG. PITTSBURG, May, 22.-A more complete understanding of the exact condition of the Pennsylvania bank and the feeling that they may be able to pay all liabilities, together with the concerted action of the bankers last night, has had a reassuring effect and confidence to a large extent has been restored. It was feared there would be runs on several banks reported on the street last night, as in a week conditon, but a visit to the alleged shaking institutions at noon, found all serene with checking out not much greater than usual. The bankers expressed themselves as perfectly able to meet the demands made on the. The officials of the Pennsylvania bankarebusy to-day getting their affairs in shape for resumption to-morrow. Their clearances were made good today and to-morrow-they will open their doors with $600,000 cash in their counters. Many of the largest depositors have signified their intention to allow their memory to lay in the bank and long before the regular hour for opening this morning, a number of the heaviest depositors forced their way to the side entrance and insisted on making deposits. The bank refused to accept, however, until they resume tomorrow. On the floor of the Oil Exchange there was not much doing. The market opened firm at 73, advaneed to 76 but dropped off at noon to 741. The feeling unsettles and no orders are coming in. NEW YORK, May 22.-Several attachments were granted to-day against property in this city of the Pennsylvania bank of Pittsburg. The suits were brought by Henry & Newman and the 4th national bank. DONNELL AND CO. At Donnell, Lawson & Simpson's office it is stated they have received dispatches from their creditors to the effect that any compromise offered by them would be
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THE Pennsylvania Bank of Pittsburg suspended Wednesday. Owing to a run, instigated it is stated by interested parties, its deposits were reduced in a few days from $5,000,000 to $750,000. The Bank examiners, after investigation, report the Bank solvent. A run was feared on other Pittsburg Banks.
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Terms-$2.00aycar,alwaysinadvance Pittsburg has a panic of its own caused by the suspension of the Pennsylvania bank, which was the heaviest financial institution in the city. A lively run on the other banks is in progress, full of disastrous portent, and business on the Oil Exchange has suffered paralysis.
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Bank Suspension. PITTSBURG, May 21.-The Pennsylvania bank of this city closed its doors at 12:30 this afternoon, and posted the following on the doors: "Owing to the continued run for several days we have decided it wise for our depositors and all concerned, to suspend payment for the present. There is great excitement and a large crowd surrounds the bank.
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Bank Resumption. PITTSBURG, May 23. 2:30 P 111.The Pennsylvania bank has not yet opened its doors but expects to do so in a few minutes. It was the original intention to resume payment at one o'clock but the details could not be arranged. About 100 persons are on the pavement and steps watting for the doors to open. The bank has been receiving deposits all day, and a very small run is anticipated. There is no excitement in financial circles, all confidence having been restored. The doors were thrown open at 2:30. The bank is crowded, but there are nearly as many depositing as those drawing out.
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The Pennsylvania Bank Resumes, PITTSBURG, May 23.-The Pennsylvania bank threw its doors open at half past 2 o'clock. The bank was crowded, but there were nearly as many depositing as drawing out. The doors of the bank were kept open until 5 p. m. in order to gratify all demands. Long before that hour the run had ceased and it is expected when they open to-morrow the scare will be over and business proceed the same as before suspension. Deposits to-day are said to be $50,000 in excess of the amount withdrawa.
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Pittsburg Points. PITTSBURG, May 23.-The iron-workers will present a scale to the manufacturers tomorrow. If not signed by June 1 a general strike will result. Officials of the Pennsylvania bank are preparing evidence, and in a few days will bring suit against several prominent business men for maliciously circulating rumors which caused the run on the bank and compelled suspension.
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Resumed. Pi tsburg, 23.-The Pennsylvania bank has not yet opened its doors but expects to do so in & few minutes. It was the original intention to resume payment at 1 o'clock, but the details could not be arranged. About 100 persons were on the pavement and steps waiting for the doors to open. The bank has been receiving deposits all day and a very small run is anticipated. There is no ex. citement in financial circles, The doors were thrown open at 2.30. The bank was crowded, but nearly as many were depositing as were drawing out.
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Bank Failure. PITTSBURG, May 26,-The Pennsylvania bank closed its doors again at 12 o'clock. The news of the second suspension of the Pennsylvania bank spread rapidly and created intense excitement and surprise owing to the fact that everybody had faith in the bank's ability to pay all claims. The immediate cause is at present unknown.
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LONDON, May 24. - Lord St. Leons ard, indicted for in decent assault on a servant girl, was convicted today. The court reserved judgment. MAJORS HANGED. OAKLAND; Cal., May 23 -Lloyd L. Majors was hanged at 11:12. KEENE WILL SETTLE. NEW YORK, May 24-James R. Keene proposes to settle with notes payable in twelve and eighteen months. A BANK RESUMES. PITTSBURG, Pa.. May 21.-At this hour, 2:20 P. m., the Pennsylvania bank has not yet ope ed its doors, but expects to do so in a few minutes. It was the original intention to open at 1 o'clock, but the details could not be arranged. About one hundred persons are on the pavement and steps,waiting for the doors to open. The bank has been receiving deposits all day and but a very small run is anticipated, there being no excitement in financial circles,
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Run on a Bank. PITTSBURG, Mry 21.-The Pennsylvania bank, of this city, closed its doors at 12:30 p. m. and posted the following on the doors: "Owing to a continual run for several days, we have decided that it is best for depositors and all concerned to suspend for the present." There is great excitement, and a crowd surrounds the bank. Officers have been placed at all the doors.
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Rotten to the Core. PITTSBURG, May 29.-Henry Warner, assignee of the Pennsylvania Bank, has taken charge and discharged the clerks. He will begin at once, but it will require two weeks, and possibly 30 days, before & statement of the exact condition of affairs can be made out. The deficits, it is believed, will reach fully $1,250,000. It is still said that $40,000 was known to be on the counter when the bank closed. Only $4,000 was turned over to the assignee. A great shortage is also reported since Saturday, and bonds, stocks and other collaterals in the bank at the time of the suspension are said to be missing. President Riddle is still confined to his home. He has issued a card asking his friends to withhold their judgment until he is able to make & statement.
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The Bad Bank. Pittsburg, 29.-Henry Wa'ner, assignee of the Pennsylvania bank, has taken charge and discharged the clerks. He will begin at once, but it will require two weeks and pos. sibly thirty days before a statement of the exact condition of affairs can be made. The deficits, it is believed, will reach fully a million and a quarter. It is said that of $40,000 known to have been on the counter when the bank closed, only $4,000 was turned over to the assignee. A great shortage is also reported since Saturday. and bonds, stocks and other collaterals in the bank at the time of the suspension are said to be missing. President Riddle is still confined to his home. He has issued a card asking friends to withhold judgment until he is ab'e to make a statement.
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The Pennsylvania Bank. PITTSBURG, July 3.-Assignee Warner filed a bill of equity to-day against the directors of the defunct Pennsylvania bank, to compel them to surrender securities valued at $451,000. appropriated the day the bank failed to secure themselves against loss for notes given the associated banks at the time the latter loaned them money to tide over the first suspension.
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More Bank Trouble. PITTSBURG, July 3. - Assignee Warner filed a bill of equity to-day against the directors of the defunct Pennsylvania Bank to compel them to surrender the securities, valued at $451,000, appropriated by the bank when it failed to secure themselves against loss for notes given associated banks at the time the latter loaned tnem money to tide over the first suspension.
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ASSIGNED. PITTSBURG, PA., Aug. S.-Holmes Lafferty & Co., the oldest and one of the largest firms dealing in live stock in this city, made an individual and firm assignment to I. W. Brainard and Julius Voetta for the benefit of their creditors. Liabilities about $100,000 with assets sufficient to pay dollar for dollar. The failure was caused by complications growing out of the Pennsylvania bank suspension. The firm were heavy depositors in the defunct institution and also had notes out aggregating $50,000 which Assignee Warner of the Pennsylvania bank had notified them he would not pay until it had been decided by the court who were the proper parties to receive the money.
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MR. RIDDLE CONFIDENT OF MAKING MONEY. PITTSBURG, Sept. 12 (Special).-A hearing was had to-day in the petition of William N. Riddle president of the defunct Pennsylvania Bank. Mr. Riddle was interrogated as follows: 'When you voluntarily assigned did you assign everything you had?" "I did." " Have you not since that assignment been engaged in money-making transactions?" "I have not." "Did you not assert that while in New-York you made $13,000 in stocks!" "No, sir; but I did say I would make that and more, too." .. Have you not received money since you assigned " Only what I have had given to me and what I have borrowed. When I get my affairs straightened up I shall be $25,000 in debt." The court made an order discharging Riddle from any further liability for debt created in the past.