Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-10-19
FINANCIAL TROUBLE.
Two Big Pittsburg Concerns in Serious
Dtficulties-A Eli. Flank Closed.

DncultIes-A Biss lsauk tlOSed.
Pittsburg, Pa, October 1S.-An exc
cution was issued to-day by Edward
Groetzinger against Adolphus, o. II.
and VIM. c. Groetzinger and A. Groetz-
niger & Sons for 43,S6271 The court
has ordered the sheriff to act at once.
Edward Groetz niger, the plaintiff, is
the extensive carpet dealer on Penn
avenue, this city, and the defendants
comprise the large tannery firm of A.
GroetZinger a. Sons, in Allegheny. All
the moneys, stocks, etc, IN the rollOw
ing corporations, summoned as garni-
shoes, are ordered to be attached: Sec
ond National Bank of Allegheny, Ger
mania Savings Bank of Pittsburg,
Pittsburg Plate Glass Company, Phil
adelphia Gas Company, Westinghouse
Air Brake Company and the German
Fire Insurance Company.
All the stock standing in the name of
the Groetzingers in the Third National
Bank of Pitsburg. the German Saw
ings Bank Of Pittsburg and the Pitts
burg Rank for Savings, and all the
capital stock in the names of all or any
of the defendants in the Equitable Title
and Trust Company, and any other Sc
curities are ordered to be attached.
Judgment was confessed by Adolf
plus and VIM. C. Groetzinger to Ed
ward GToetzinger for s246, S62.71, and
Adolphus, VIM. c., o. H. Groetzinger
and A. Groetzipger & Sons confess
judgment to Edward Groetzinger 10
the amount of s243.s62.71. making
total involved Of $490,725,42.
Upon examination Of the books of
the German National Bank. the direc-
tors have decided not to open in the
morning. If the depositors only give
rs time, we believe that we will pay
dollar for dollar z. H. MYERS,
President"
The above frank statement was die
tated by Mr.. Myers late tonight No
cause is assigned, but the reason for
the failure at this time Of what has for
years been generally considered one Of
the strongest financial institutions in
the State, is conceded to be the assign
ment Of the Allegheny tanning firm
Of A. Groetzinger & Sons. The direc-
tors Of the bank have prepared this an
nouncement of the banks failure:
"At a meeting of the Board Of Di-
rectors held at the bank this day at 6
p. n. the following resolution was
adopted:
Resolved, That after a thorough
examination by the bank examiner.
clearing house committee and directors
OF the bank, all being unanimous in
the opinion that the bank is solvent
that owing to the fact that a portion
Of the assets are not Immediately avail
able; that under the advice of all it
seems best to close the bank for the
equal protection Of all the depositors
and 60 into voluntary liquidation with
the full assurance that at On early date
viii be able to pay all its depositors in
full, therefore the bank Is closed and
the directors hereby recommend as LID
udation committee E. Fl. Myers, II. II.
Niemann, A. FTauenheim.'
The connection between the Groet-
fingers and the German National Bank
OF Pittsburg are very close, the firm 5
paper not only beig discounted at the
bank named. but Mr.. Adolphus Groet-
Finger having been a director in the
bank for years and until recently its
president. Several days ago be resign
ed as president and was succeeded by
E. H. Myers, who was then vice pres
ident, the new vice president being Mr.
a. Freuenheim.
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