Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1913-07-07
INTERESTS
OF PITTSBURG
IN FINANCIAL
TROUBLES
First-Second National Bank.
One Of Largest in City, Fore
ed to Close Subsidiaries Fol-
low Suit.
DIFFICULTY DECLARED
10 BE ONLY TEMPORARY

@AAN NNNAANANAAA" AZ " WN"0I
Works Guaranty Said d Ee
Responsible for Suspensions
In Smoky City. i
fBy Eeasod wire % Evening ascrass.F
Pittsburgh. Pa. July Ia series a.
tinanclai difficulties occupied lhA
Pittsburgh financial district tudan.
The First-sccond National bank. one
Of the largest banks IN the country.
Tailed to open Ia doors. Within
short time the First Naflcnel hank 81
McIkecsport. an adjoining city. closed
and during the afternoon recelvern
were appointed for the American WA
torworl,e and Guarantee company one
of tho largest companies OF NJ Kind
In the United States and Tor the bank@
ing house of J. s. and W. 81 kuhn.
Inc. Also during tho Day a ram was
made on the Pittsburgh Bank foE HaN-
lnge. a large institution.
The troubles we're due % financiaf
difficulties confron1lng the KuIia lns
lereatH OF this city. II Is aaid tho om~
barfaesment Is only rcmpprary ana
that there II NO immediato cause Coz
alarm. Heavy investments Ia wntcf
works propositions. coal and on lan6a
and lnterurban railway eompnaiea. TO-
eether with tho financing of q p'Nr
scrnper bank and offlCo building 4ea
given az some of tle causes lcaolnK
up 20 tcday's suspensions.
The trouble first made ~ npncaFe
ance In the Flrat-geecnd National
hank. Il n said the NoveFnD94t has
been inve1llgailnG unN4ItlpRn 1ef efn
past rannth or since yuna 4 last. when
the last statement WAS made An ~
legged deficiency Of 42.lfo.ooa 81 tna
legal reserve or the hank ana the sub
tequent examination brought matters
60 climax.
Several thousand parsons cqngre-
sated about the First-second Nntlon-
IA bank ~ noon. A aQnad of pnllcn
was necessary 10 keep the great crowd
moving.
j. 3. and w. 8. Kuhn. incorporated.
bankers. known as the Kuhn interests
are incorporated IN Delaworn with a
capitol stock OF s50O.O0o. James ).
Kuhn Il chairman OF ths beard ~
directors and mis- brother. W 3. Kuhn.
Is vice president. James - y aiNo
president Of the WatorWOrk1 ana
Guarantee company, with capllnt
of e.000. 600 an4 w. q Kuhn - vi.o
president of this company.
The Kuhn interests have contered
largely of late IN irrigatlDn PROJECTS
IN the west. They also control the
West Penn Traution and Water FPW-
or company. combination of trolley
tine interests IN western Fennayivan3a
and the operations Of a Group % BIZ
luminous mines IN this state, espccloi.
liy United Coal company of which
wv s. Kuhn II preaident and alrep-
tor. Other interests Of ". q knhn
are the Colonial Trust company %
this city. Commercial National hank
and Commonwealth Trust company of
this city IN all Of which ho 81 a direcr
tor vica president. end direetnF % tie
First National bank Of Aileahenyi d.
rector OF the First Nasionul bank of
MeKeesport. vice president and dlrec-
tor of the Pittsburgh Bank FOR Saw
ings: president and director ltiNantng
and Isoechhurg Railway company;
president and director sacramento
Valley Irrigation company; president
and director Twinfaiis North Side
Land and Water company.
James 8. Kuhn n president and d.
rector OF the American WaterworAa
: and Guarantee company; president
and director First National Bank ot
Allegheny. president and direceor
I FIRST National Bank Mckeesporit ais
+ rector IN the Colonial Trust company
land Freehold hank OF this city, dlrec-
tor in Kuhn, Fisher a Co, Inc. Foe,
ton; president and director Pittsburgh
Bank fof Savings; director 81 the So
curity Investment company aEu Iwsn
Fails North Side Water and Asano
company. vice president and director
of United Coal company and Wm'
Penn Traction company, also oi West
Penn Traction and Water power coui-
pany and director Ia the WegtlnH
house Electric and misunderstanding
cOmpany.
RECEIVER ASKED kuR
WATERWORMH COMPANY
/ Pittsburgh. July 7.--Atlorness thif
= afternoon appeared before judge C.
{ r. orr in the federal court and asked
: for receivers for the American Water
l. works and Guarantee company end
lila Cor tho firm ~ o. q and ~ ~
<rhn. Incorporated Far tho tpfuel
}. thene were appointed. j =. koha "
r 4 Kuhn. y n. Purdy, gonetal maAa'
d gef ~ the o0nlpane. ana ehcue
Il Bailey. Jr. hank official oi tbH eiI1
II For the Kuhn company was oppo|nir'
"a D. h. Daft. who a lreaauEer ~ in'
l. company Bonds % 3to,eoo Nera ol
dered filed Tor each recelVcr
q BANK OFFICIALS WAX
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