The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1913-07-07
Comptroller Takes Charge
First-SecOnd National.
Deposits Amount to Over Thir-
ty Million Dollars.
AM, WATERW0RKS RECEIVERS
Biggest WaterwOrks Company
in Country Involved.
Controls Eighty Plants-SOme
in Kansas Towns.
RUN IS MADE ON THIRD BANK
All Embarrassed Institutions
Are Closely Allied.
Former Department Men Hold
Positions in Bank.
Biggest WaterWOrks Company
in Country Involved.
Controls Eighty Plants-SOme
in Kansas Towns.
RUN IS MADE ON THIRD BANK
All Embarrassed Institutions
Are Closely Allied.
Former Department Men Hold
Positions in Bank.

Pittsburg. July THE F'irst-Second d
National bank of Pittsburg, -he sec
ond largest in the city and one or the
largest in the country, was closed TO-
day by order of the comptroller OF
the currency. The First National bonk
of McKeesport, Pa, an allied lns1ltu-
ton also closed its doors.
w. S. Kuhn and ]. S. Kuhn own the
controlling interests in both banks
and their closing led TO persistent re-
ports that a receiver would he asked
for the American Waterworks ana
Guaranty company, the largest con-
Germ of its kind in the country. with
which the Kuhns are prominently
identified, and the reports were soon
borne out. This concern controls more
than forty waterworks plants i'll the
United States.
Differences between the officials of
the First-Second bank and the treas
ury department over the character of
the banks assets are SAID 10 have led
to the order closing its doors.
No details of the differences have
been announced by the treasury de-
partment this afternoon. The First
Second National bank IS a recent con-
Il
tionaI banks of Pittsburg AID has de
posits of more than S30,o00,C0G- The
suspension of the institution preclp-
itated run on the Pittsburs Pank for
Savings, of which ]. S. Kuhn is pres
ident-
Difficulty Long Standing.
Differences of long standing with the
treasury department concerning the
character and value Of certain assets of
the former First National bank of
Pittsburg which was merged with the
Second National bank last March un-
der the title of the First-Second Ma
tional bank of Pittsburg, eliminated
this morning in the closing of the in
stitution by order of Deputy Comptrol-
ler of the Currency. T. P. Kane
Directors and officers of the institu-
ton were in session all day yesterday
and most of last night with special
bank examiners sent here to investi-
gate the bank. and at an early hour
this morning notices were posted on
the bank doors that it had been ordered
closed.
The Pittsburg clearing house asso-
citation has taken charge of the situa-
tion generally, and announces no
further trouble. A statement will be
issued by it later in the day.
None of the officials of the bank
would make a statement this morning
announcing that affairs were in the
hands of the government officials.
The officers of the First-Second Ma
tional bank, of Pittsburg are: w. S
Kuhn, president. and J. M. Young
William McConway, and Oscar L. Tell
ing vice presidents. Mr.. Young also is
cashier.
w. S. Kuhn also is vice president OF
the American Waterworks and Guar
r0F ioI, . (Y,I,-, &c
president. The company controls
waterworks plants in about eighty
cities and towns in the United States
The capital stock of the various con,
trolled companies is about $7S000,OO0
McKeesport Bank Closes.
The First National bank of McKees.
port, an allied institution of the First.
Second National bank of Pittsburg
closed its doors later in the day, post
ing this notice:
ION account of the First Second Ma
tional bank of Pittsburg asking for
receiver, it is thought best for all o
our depositors to close his bank 70
the present The notice was unsigned
Ask American WaterworEs Receivers
Application for a receiver for tn
American Waterworks and Guarante
company was filed in the federal cour
at 1855 this afternoon.
The American Waterworks and Guar
antee company is the largest operating
waterworks company in the Unitet
States, controlling more than 40 sue
plants throughout the country.
The concern is also largely interes /
ed in irrigation projects, electric III
terurban and electric lighting enter
prises.
Among the companies controlled D
the American Waterworks and Guaran
tee company are: The ST. Joseph Mo
Water company; the Wichita, Kan
Water company; Louisiana, Mo-, Wate
company; Arkansas Water company
Little Rock, Ark, and Joplin Water
works company, Joplin, Mo.
Extensive Interests.
J. S. and w. S. Kuhn, incorporate
bankers, known as the Kuhn interests
are incorporated in Delaware with
capital stock of 100000. James s
Kuhn is chairman of the board of di
rectors and his brother, w. S. Kuhr
is vice president. James S. Kuhn
also president of the American Water
works and Guarantee company, wit
a capital of $2O.0OO.OOO. and w. s
Kuhn is vice president. The Kuhn in
terests have centered largely of lat
in irrigation projects in the west. The
also control the West Pennsylvani
Traction and Water Power compan,