Waterbury evening Democrat., 1903-10-22
First National of Allegheny
 Closed It's Doors.
plrTsBURG BANK THE CAUSE.

President Thompson Issued a State
 ment Giving Reasons for Closing
 Bank Has Ample Assets-The Acting
 Comptroller Gives His Views on
 Going Into Voluntary Liquidation.
 pittsburg, Oct 22.-At 3:3o o'clock this morning Vice President R. J. Sto- ney. ir, of the First National bank or Allegheny, issued the following state ment after a meeting of the officers and directors with the clearing house committee of the Pittsburg Clearing House association, which lasted from 8 o'clock last evening until 3:20 o'clock this morning:
 Allegheny, Pa, Oct 21, 1903.
 At meeting of the board of direc- tors of the First National bank of Al legheny. held tlnis evening, it was re- solved that, although the bank has ample assets to pay all of it's deposi- tors in full and leave handsome sur plus for the shareholders, yet its sup posed connection with the Federal National bank of Pittshurg has created wide distm'nst and caused a run on this bank to such an extent that we feel 1t to be our duty to place the bank in voluntary liquidation, and the officers of the bank and directors have decided Co make application to the comptroller of the currency to take necessary steps to accomplish this purpose.
 JOHN THOMPSON. President"
 The First National bank of Alle- gheny was organized in January, 1864, and has capital stock of S85O.OOO a surplus of S100.o00. and undivided pro- fits of S34.S71.S0. The officers ara as follows: President John Thompson: vice president. R. J. Stoney, ir: cashier, F. R. Kramer; assistant cashier, John D. Kramer
 The First National is one of the old est banking institutions in Allegheny
 The directors of the bank are con nected with some of the most important manufacturing interests in Allegheny.
 Many runnors during the past few days have connected the bank with the Federal National and for two days people have demanded their deposits after learning of the condition of the Pittsburg institution. The clearing house committee bankers have very sang1ine opinion of the general institu- ton. but the two banks so unfortunate at this time were found to be beyond the immediate reach of aid although both are declared to be solvent and in good condition.
 The spondents of the bank are: New York National Park bank: Pliila- delphia- First National bank; Chicago, First National bank.
 According to report of the condi- tion of the bank at the close of bHsi- ness September the liabilities were S1 .735.476: amount due depositors. S1,- 052. .12s: cash on hand, $113,113. Other resources were given to bring the total to $1,735,4T6.
 Washington. Oct 22.--The acting controller of the currency last night received the following telegram from John Thompson, president of the First National bank of Allegheny. Pa:
 @At a meeting of the directors of the bank, held this evening, it was resolved on account of the adverse ru- mors in connection with the failure of the Federal National bank of Pittsburr and inability to realize quickly on assets to go into voluntary liquidation
 The acting controller states, in this connection that an application to go into voluntary liquidation cannot he considered until the bank has been of flciany examined and its condition as certained