The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1913-07-07
BANK DOORS ARE CLOSED


in this state. especially the Un1teo
Coal company of which w. 5. kuhn
is president and director.
Other interests of w. S. Kuhn are
the Colonial Trust company of this
city Commercial National bank and
Comm Trust company OF this
city, in all of which he is director;
vice president and director OF the First
National Bank of Allegheny, director
of the First National National, NC
Keesport; vice president and director
Pittsburg Bank for Savings; president
and director Kittaning & Leechburg
Railway company; president and d.
rector Sacramento Valley irrigation
company: president and director Twin
Falls Northside Land and Water COM
pany.
James S. Kuhn is president and di-
rector of the American WaterWorks q
Guarantee company; president ana dl.
rector of the First National bank or
Allegheny; president and director First
National of McKeesport and director
in the Colonial Trust company ana
Freehold bank of this city; o!rector IN
Kuhn, Fisher & Company, 1ncorpor-
ated, Boston; president and director
Pittsburg Bank for Saving; director OF
the Security Investment company ana
Twin Falls Land & Water company;
director United Coal company, and
West Pennsylvania company, also or
West PENNSYLVANIA Traction & Water
Power company, and director in the
Westinghouse Electric & Manufactur-
ing company.
Receivers Named.
Pittsburg. July 7.-Attorneys this af-
ternoon appeared before Judge c. +.
Orr in the federal court and asked for
receivers for the American Waterworks
and Guarantee company and also for
the firm of J. S. and w. s. Kuhn, in
elusive.
For the former these were appointed:
7. s. Kuhn, w. S. Kuhn, ]. H. Purdy'
general manager of the company, and
Samuel Bailey, Jr., a bank official Vi
this city.
For the Kuhn company was appoint
ed ]. K Duff, who is treasurer of the
company. Bonds of $4,000 were order
ed filed for each receiver.
Treasury Officials Confer.
Washington, July 7.-TreasurS off,
ciaIs after an early conference today
over the closing of the First-Seconu
National bank of Pittsburg, announced
an official statement would be issued
this afternoon defining the situation.
Preliminary reports on the condition
of the bank seem to indicate that tn@
financing of a new Office building IN
which the bank has it's home, is con
nected with the difficulty. The BANK
capital is So, ,400, 900. How much OF thd-
if any is impaired, has not been defln-
itely determined.
First National bank with the Second
National bank, the affairs of the First
actively engaged the attention of The
comptroller's office, and less than three
years ago the bank examiners COM
PEELED the charging off IF nearly ST.
900, 900 worth of assets they did not ho-
lieve should be carried on the panh
books.
Oscar L. Telling, former chief of
the reports division of the comptrol-
ler's office, was president of the First
National until the consolidation with
the Second, when he became a vice
president of the new bank. Lawrence
o. Murray, former comptroller or the
currency, had virtually resigned MS
position two years ago to become pres1-
dent of the First National, but
changed his plans, and Telling, who
was Murray's active assistant IN the
comptroller's office, took the place.
John S. Kelton, Williams assistant
secretary of the treasury, and Thomas
p. Kane, acting comptroller of the cur
rency, are in Pittsburg today.
Secretary McAdoo is in long distance
communication with Mr.. Williams
preparatory to the issuance OF his
statement.
One-Third Capital Impaired.
Later it was said such an examina-
ton as national Officers had been able
to make of the First-Second Nationals
condition indicated that at least one
third of its S3,40O,0OO capital was i'm
paired. Former Comptrolled Murray
authorized the consolidation of the
First and Second banks before going
out of office.
The suspension of the First-Second
National bank of Pittsburg and the
First National bank of McKeesport
caused considerable excitement in the
downtown district. Shortly before
noon the following notice was posted
on the doors of the F'irSt-Second bank:
Payment of all items maturing
here will be received.-C. c. Murray,
receiver
Start Run on Bank.
AS word of the suspension of the
First-Second National bank became
generally known, deprsitors If the
Pittsburg Bank for Savings. located a
few blocks awy, started a run on that
institution. J. S. Kuhn is president
of this bank.
Several thousand persons consrega--
ted about the F'irst-Secon6 National
bank at noon. A squad of policemen
was necessary to keep the great noon
day crowd on the move.
Washington, July THE legal re-
serve of the First-Second National
bank of Pittsburg was deficient by
81. 900 on June 4, tho date of the
last call by the comptroller of the cur
rency This brought the situation to
a climax.
Bank examiners We're then making
adverse reports on the condition Of
the First
The last call for condition by the
comptrollers office on June 4. devel-
oped further criticism and last week
representatives of the bank were IN
Washington comforting with Secretary
| McAdoo and his assistants. II is un-
| derstood here that Acting Comptroller
Kane closed the bank after the board
! of directors had requested him TO do
so in behalf of the depositcrs.
Has Been Away a Week.
Beverly. July 7.-William S. Kuhu
| president of the First-Second National
bank of Pittsburg, is at the bedside OF
Mrs. Kuhn who is i'll at Pride's Cross
+l,o IJe