The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1884-05-27
FINANCIAL FANCIES,
THE PENN BANK AGAIN sUsPENDs.
The PHealdcAt Frustrated and tho Doors CloAed.
Tho Causs Of tho B.eosd hiAiortuus-Condl. 4
tloa Of the lnblitutlon-Ftrdinand Wards
Sehem.s-ilIs Opes Latter to the PublIe. .

PITTSBURGH, Pa, May 26.-The Clearing
House threw out $2650OO OF checks Of tn,
Penn Bank this morning and again th'
bank Is closed. Exactly what led to thi
condition Of affairs Is not definitely knowr
at this time. Yesterday afternoon presi
dent Riddle had a long talk with the writer
and he was hopeful both rs to the bank
and his own health. This morning at
quarter past ten o'clock he WIS as cheerful
as before and said business was going on
smoothly. An hour and a hslf later he
lay dying in his room at the Duquesne
Club and the bank was closed, the follow.
Ing notice being posted on tho panels ol
its door: 49, 81. &
"Mr. Riddle, the President and chief
executive officer OF the bank, having be.
comesuddenly and seriously III and unable
10 communicate with the Board OF Direc.
tors, 1t Is deemed proper 10 cloae the bank
under tho existing circumstances until he
sufficiently RECEIVERS 10 bo present in the
adjustment Of affairs. ssil A.. ~ I,
BY ORDER OF TIE BOARD"
It was impossible to gain admission to
the bank. Police officers had charge OF
the building, and refused to admit any
one except the directors. Although there
were many large depostors and many who
are largely interested in the outcome of
the failure among those who sought ad.
misaion, they we're not able to get into the
room where the directors were in session.
It was impossible to learn just what caused
the crash. According to the statement
OF the bank it had raised 1881 900 to pay
s9lS,O00 OF Liabilities. 1t is said there were
S3OO,000 OF certified checks Of the bank
out, which were not included in the state
ment Of liabilities aud which had to be
paid. There has been quiet run on the
bank and 1t has paid out 100000 in the
last twenty.four business hours. There
were eleven banks in the pool which
loaned the Penn $4,000, and they are
all amply. secured against any loss.
4 CAUSE orMR. RIDDLES ILLNESS.
What happened in the bank to cause
Mr.. Riddles audden illness is not known.
It is evident that large checks were unex-
pectedly drawn against the bank, and per.
sons who were supposed to be friends OF
the bank, and willing 10 aid it, suddenly
showed want Of faith 1t is known that
President Riddle was suddenly stricken
down with hemorrhage. He had eev.
eral small hemorrhages during the week,
but wss up at 6 O'Clock this morning, and
seemed to be in better and brighter spirits
than for several days. There is no doubt
that the sudden collapse Of the bank Was
not looked for. The most intimate bust.
ness friends Of Mr.. Riddle, who had assist.
ed him and were entirely in bis conf.
dence, knew nothing until the bank wes
closed and he was prostrated at the club.
Mr.. Riddle felt most keenly the blow
which had fallen upon him, and at the
residence Of Mr.. D. A. Stewart, yesterday,
be said: There were couple of days
last week when I believed that after all it
was possible for man to die OF broken
heart" t7E n