Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-07-07
First-Second National of
Pittsburgh In Dispute
Over Assets.
ALLY At McKEESPORT
ALSO OISCONTINUES
President Of Pittsburgh Institution
Head of Business Interests in
Eighty Cities.

PITTSBURGH. Pa. July 7.-pi6ep-
ences Of long standing with the TrsAs-
ury Department concerning the char
acter and value OF certain assets OF
the former Fret 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 Pittsburgh. eliminated
this morning in the closing of the In
stitution by order OF T. r. Kane dsp-
uty controller of the currency
Unable to Adjust Differences.
Directors and officers of the inst,,u-
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 il had been ordered
closed
The Pittsburgh Clearing House A.so-
citation has taken charge of the situa-
,, ton generally and announces tina, no
further trouble is expected. A state
ment viii be issued by IL later in the
day.
None of the officials of the bank
would make statement this morning.
announcing that AFFAIRS were in the
ninos mus OF the government officials
Inc FIRST National Bank or Mckees-
pot an aiiied insulutun OF the r irst-
Second National BANK OF fitlsourgh.
closed its doors later In the oay, posunx
this notice:
On account of the First-Second Ns.
tional Bank OF Pittsburgh asking for a
receiver, II is thought best tor AL OF our
oeposltors TO close this bank for the
present
The notice was unsigned
Last Statement Of Condition.
The last statement of the First-secon,,
| National BanA's condition. made I'D on
cal Of the controller At the close Of busi.
hess June 4, was as follows:
Loans and discounts, Sl5, 90, ,SOl16.
Overdrafts. secured and uusecufed. -
| 57l.76
| United States bonds to secure circuIa-
ton, $l.900.000
United States bonds to secure UnitSd
States deposits. $171.OO0.
United States bonds on hand. $1,000
/ Premiums on United States bonds, SO
l21.36
| Bonds. securities, etc, Sc, $40 so.
Ranking house, furniture and fixtures,
Other real estate owned. $4.54l. .977.d6
| Due from national banks mot reserve
agents). 81. 7s,3S7.O6.
Due from state banks and bankers.
s., ,316, 82U. 23.
Due from approved reserve asensA
Checks and other cash items, $780,
O7623. Exchanges for clearing house,
$692 23O42.
Notes Of other national banks.
Fractional paper currency. nickels and
cents, $a3237.sS.
Lawful money reserve in bank. viz.
specie and legal tender notes, 81, ,ssl. .u23.
Redemption fund with United States
Treasury 6 per cent of circulation,
$4,000
Due from United States Treasurer,
other than per cent redemption fund.
So so.
Total, sss. loe. $500.
Other Side Of Ledger.
| Liabilities:
Capital stock paid in. $4,000.
| Surplus fund s1.7O0.OO.
Undivided profits, less expenses and
| taxes paid. s:50.O6s45.
National bank notes outstanding. ST.
$50 800.
Due 20 other national banks. sa-223s,
s71.s2
Due TO state banks and bankers, 81
iiS. lts.1I.
Due 70 trust companies and savings
banks. sssi2.:lo-3l.
Due TO approved reserve agents, s252,-
o35.4l
Dividends unpaid. 81 800.
Individual deposits subject 70 c2eck.
| $I5 105 i44.JO.
| Demand certificates OF deposit. 1885,.
9J6O5.
| Time certificates OF deposit. si6,UtO.O.
Certified checks. $412 S69. TO-
| Cashiers checks outstanding. SJ6-
2ls30.
United States deposits, sl4s.sl4Is
Postal savings deposits, $40 taS.sS
Total, SIS. 103. .ss6.a9
Receivers Appointed.
Attorneys this afternoon appeared be-
fore Judge q T. Orr in the federal court
and asked for receivers for the American
Water Works and Guarante. Company.
and also for the firm ce J. :. & ~. :.
Kuhn. Inc
For the former these We're appointed:
]. 5. Kuhn. W. s. .-uhn, J. III. Purdy.
general manager of the company, and
Samuel Bailey. jr.. bank official OF this
city
For the Kuhn company was appointed
J. X. Duff. who is treasurer of the COM
pany. Bonds of S5o,oe Were ordered
filed for each receiver.
bankers. known the Kuhn interests,
are Incorporated in Delaware with cap
itai stock of $5o00oO. lanes = kunn
Is chairman OF the board of directors.
and his brother. W. : Kuhn. Is Vice
president. James = i also president OF
the American Water Works and Guar n
tee Company. with capital of s@.WOUg.
and w. $. Kt:hn Is vice president OF this
The kuhn interests have conferred
largely of late In irrigation projects in
the west. They also control the West
Penn Traction and Water Power Com