Article Text
NEW YORK BANK CLOSED. Catajobarie National Has Suspended Bu iness. Canajoharie, N. Y., Jan. 25.--National Bank Examiner Graham closed the doors of the Canajoharie National bank pending investigation of its condition.
Canajoharie National Bank (Canajoharie, NY)
Episode Information
- Episode UID
112201201- Episode Type
- Run → Suspension → Reopening
- Bank Type
- national
- Bank ID
-
11220national - Charter Number
- 1122
- Start Date
- January 25, 1900
- Location
- Canajoharie, New York (42.906, -74.572)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
a107acc3a6f63af4
Response Measures
Capital injected, Full suspension, Books examined
Other: Bank placed in hands of a receiver (comptroller/examiner placed in charge) and later stock reduction and assessment paid by stockholders to recapitalize before resumption.
Events (6)
1.
May 6, 1865
Chartered
- Source
- historical_nic
2.
January 25, 1900
Receivership
- Source
- historical_nic
3.
January 25, 1900
Run
- Cause
- Bank Specific Adverse Info
- Cause Details
- Heavy withdrawals and loss of deposits after suspicions tied to president Adelbert G. Richmond's involvement with the Clark Fabric Co. and large judgments against associated interests.
- Measures
- Bank Examiner Graham put in charge; ultimately bank closed and placed in hands of a receiver.
- Newspaper Excerpt
- there has been much talk regarding the condition of the bank, resulting in grave suspicions and consequent light deposits and heavy withdrawals.
- Source
- newspapers
4.
January 25, 1900
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Examiner closed bank due to muddled books and suspected insolvency tied to president's affairs and related judgments; receiver appointed.
- Newspaper Excerpt
- National Bank Examiner Graham closed the doors of the Canajoharie National bank pending investigation of its condition.
- Source
- newspapers
5.
May 16, 1900
Reopening
- Newspaper Excerpt
- has been restored to the management of its officers and directors and permitted to resume business as an active national banking association.
- Source
- newspapers
6.
May 17, 1900
Restored To Solvency
- Source
- historical_nic
Newspaper Articles (15)
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An official of the Western National Bank said yesterday that the bank had been duly apprised of the suspension of the Canajoharie National Bank, the doors of which were closed on Wednesday by the Bank Examiner. The official said he did not know the cause of the closing. The bank has a fair sized credit in the Western National Bank, and the rating of the up-State bank with it was good. Considerable business was done for the Canajoharie Bank. It was intimated in outside circles that the Canajoharie Bank's embarrassment was partlv due to its carrying the paper of an upState silk mill, and that the silk mill did not come to terms.
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ITS AFFAIRS INVOLVED. National Bank of Canajoharie, N. Y., in Bad Financial Condition. FORT PLAIN, N. Y., Jan. 25.-The National Bank of Canajoharie failed to open for business to-day. Adelbert G. Richmond, the president, died three months ago and since then there has been much talk regarding the condition of the bank, resulting in grave suspicions and consequent light deposits and heavy withdrawals. Mr. Richmond had been heavily interested in the Clark Fabric Company, at Sidney, N. Y., now in the hands of a receiver, and against which judgments amounting to a quarter of a million dollars have been filed. Richmond was also president of the Farmers' and Mechanics' Bank, this village, and his affairs at Canajoharie caused worriment. The Fort Plain Bank lost only $2,100, but the fear spread and this morning a weak run commenced on the Farmers' and Mechanics'. It amounted to nothing, however. Mr. Richmond was found dead in bed at the home of his sister, in New Woodstock. His health had been perfect until just before the discovery of his death and there is now a belief that he realized that he was hopelessly involved. Bank Examiner Graham says the Canajoharie Bank's books and papers are in a muddle and that several weeks will be required to straighten them out and get at their real condition. He is afraid that the bank's affairs are in such a condition that/the institution may not be able to resume. Mr. Richmond from 1862 to 1865 was in the Treasury Department at Washington under Gen. Spinner. For twenty-eight years he was cashier for the bank now in distress and he became president in 1893.
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SHORT SPECIALS. The United Stattes gunboat Machias has arrived at Laguayra, Venezuela. Gen. Lee and his iparty reached Santiago on the inspection tour of the Cuban provinces. The Canajoharie National bank, of Canajoharie, N. Y., has been placed in the hands of a receiver. The Baltimore & Ohio Southwestern railroad shops at Pana, III., were partially destroyed ny fire. Kansas City is making a strong effort to have the democratic national convention to meet in that city. Gen. Bernado Reyes, of Mexico, has been sworn in as minister of war to succeed the late Gen. Felipe Borriozabal. Jesse James, Jr., the son of the noted bandit, and Miss Stella F. MeGowan were married in Kansas City, Mo. The painters working on John D. Rockefeller's new house In New York city struck to have the non-union varnishers discharged. The Newfoundland legislature met at St. Johns. The passage of a measure establishing a modus vivendi for a French treaty is urged. Advices by steamship Miowera say Prof. Agassiz's scientific party on the yacht Albatross, asked to be reported at Suva. Fiji, December 20, all well. The Danish steamer Lividia, from Hamburg for Philadelphia, ashore at Terschelling, has become a total wreck. The crew have been all safe11 ly landed. r e There was a general collapse in the g London stock market Friday, especialS ly in Kaffirs, from the announcement k of Gen. Warren's abandonment of o Spion Kop. n Dr. Hunter, United States minister d to Guatemala and Honduras, called at o the white house and paid his respects of e to the president. He is home on a IS leave of absence on account of his er wife's ill health. Mail advices from Sydney announce f23 cases of bubonic plague at Noumea, ar the capital of New Caledonia and speer cial precaution in all Australian colV. onies to guard against its importation. The steel collier Miami, belonging to the Pacific Coast Co., was wrecked IS on a reef near Oyster Bay, on the east - shore of Vancouver island. She is a d, total loss. as she broke in two and es went to the bottom. Her entire crew es were saved.
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A Bank Breaks. Fort Plain, N. Y., Jan. 26.-The National Bank of Canajoharie failed to open for business yesterday. Adelbert G. Richmond, the president, died three months ago. Since then there has been much talk regarding the condition of the bank, resulting in grave suspicions and consequent light deposits and heavy withdrawals. Mr. Richmond had been heavily interested in the Clark Fabric Co. at Sidney, N. Y., now in the hands of a receiver and against which judgments amounting to $250,000 were filed.
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THE oill providing for separate cars for whites and negroes on the railways passed the Virginia Senate without a dissenting vote. The governor's approval is a foregone conclusion. In a collision between a special passenger train and a freight train at Waycross, Ga., fifteen passengers were injured. The Philadelphia coroner's jury found four persons responsible for the death of Miss May Bibighaus in the opium joint. The Canajoharie (N. Y.) National Bank suspended, and E. J. Grabam. national bank examiner, was placed in charge. Six hundred operatives at the American Hide and Leather Company's tanneries in Lowell, Mass., went on strike. James and Amos Pierce were arrested in Chester, Pa., on suspicion of having murdured George B. Eyre. Frederick Lempke, a Christian scientist, committed suicide by thrusting his head into a red hot stove. Six thousand dollars' worth of diamonds was stolen from Joseph K. Davidson & Son in Philadelphia. The third dynamite outrage in Leadville, Col., wrecked the home of A. V. Hunter, the millionaire. Lewis Havens, of Philadelphia, died suddenly in a car at Lenoir, N.C. A fire at Dawson City destroyed 400,000 worth of property. Samuel Peter Meyers was hanged at Somerset. Pa. R. H. Nicholas, a native of Baltimore, and superintendent of the New York, Philadelphia and Norfolk Railroad, died in Philadelphia. Brigadier General Charles W. Squires, a prominent Confederate during the Civil War, died in St. Louis, aged sixty. Judge Wallace, in the United States Court at Albany, concurred with the lower court in refusing to grant a writ of habeas corpus in the case of Captain Oberlin M. Carter, convicted of conspiracy against the government. May Bebehaus, aged nineteen, died in Philadelphia from the effects of smoking opium in den. Julius Bandmann, an old merchant of San Francisco, is dead. John Klonthan died at Berryville, Va., aged seventy-one. Count Boni de Castellane, with his wife, Anna Gould, reached New York, and denied absolutely that he had lost anything in speculations, declaring that he had never speculated in his life. A.P. T. Elder. formerly a publisher in Chicago, plead guilty in the United States Court, that city, to having used the mails to defraud. Clarence W. Robinson was appointed commonwealth's attorney in Newport News, Va., to fill the vacancy caused by the death of J. K. M. Newton. John Potter Stockton, formerly United States senator, who was for years attorney general of New Jersey, died at the Hotel Hanover, in New York. William W. Patch, who during the war saved General Sherman and his staff from capture, died at his home in Galesburg, III. Captain William H. Gibson succeeded Captain Sigsbee as commander of the battleship Texas at the Brooklyn navy yard. J. Edgar Walton was arrested in the Chicago National Bank on a charge of forgery. David Murdock, assistant roadmaster of the Maryland division of the Pennsylvania Railroad at Gray's Ferry, Philadelphia, was killed by a train. The loss by the fire at the winter quarters of the Barnum & Bailey Circus, at Bridgeport, Ct., is estimated at $125,000. Many cars were destroyed. Captain Frederick J. Mills, formerly lieutenant governor of Idaho, who killed J. C. O'Melveney, was acquitted of murder in Salt Lake. Edward Oswald was found guilty of murder in the first degree at Camden, N. J., for billing his wife and six-year-old child. The Delaware, Lackawanna and Western Company began shutting down its coal mines in Pennsylvania. W. J. McConnell, the temperance advocate of Cleveland, died in Philadelphia from excessive use of morphia. John Brown, a notorious chicken thief, was sentenced, in Norfolk, to the penitentiary for ten years. As the result of a family row in New York between the Collettis and the Spinellas three of the Collettis were killed and two of the Spinellas were arrested, the third being a fugitive. The British steamer Sutton, with iron ore, for Philadelphia, was stranded on Fenwick Island Shoals, near Lewes, Del. Boats from the revenue cutter Onondaga rescued the crew. Marshall Waggoner, an infidel who was converted to Christianity, burned his collection of books on infidelity in the furnace of the United Brethren Church at Toledo, O. Rev. Charles Earl Preston, of Jamestown, R.I., who ran away from his wife, was arrested in Troy, N.Y., where he had gone with a young lady of his church. Miss Kate Herbotscheimer, of Princeton, III., was acquitted of the murder of Charles Salzman, to whom she had been engaged to be married. Mrs. Bertha Ruprecht, made despondent by the death of her husband in Batavia, N. Y., made a desporate attempt to commit suicide. The will of Father Chiniquy, the excommunicated priest, who died in Montreal, gives his property to his wife and daughters. Mrs. Anna George, the woman in the Saxton murder case in Cleveland, O., is now a cloak model in New York. Seth Low. president of Columbia College, was also elected president of Barnard College. The Baldwin Locomotive Works is building thirty locomotives for French railways. A report comes from Chicago that as R result of the recent agreements of the trunk line officials, separate city ticket offices will be abandoned in Baltimore, Philadelphia and other cities, and joint offices will be substituted. The tobacco growers of North Corolina have agreed to sell none of their product to the American Tobacco Company for five years. Van Wickle Co., coal miners at
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Jesse Wilson, a colored undertaker of Norfolk, Va., was arrested for burying a threeyear-old child in the same coffin with an unknown woman. W. D. Smith. of Macon, Ga., was sentenced to imprisonment for life for throwing acid into the face of Mrs. Suste Hilliard, permanently blinding her. The union painters and decorators of Newport News, Va., demanded a reduction of one hour per day at the present wages. Former Captain Ike T. Jobe, accused of f udulently issuing transportation orders, was captured near Johnson City, Tenn. Luella C. Oakes, of New York, sued her former husband and his present wife for putting her in an insane asylum. Alice Kelly, a bride of three months, went from sleep to death in New York, gas coming through unused pipes. Rev. Dr. Parkhurst, of New York, proposes that saloons shall be allowed to sell beer on Sunday. Henry Noble and his sweetheart were blown from a bridge while driving near Danbury. Ct., during a storm. The Southern Naval Stores Company was chartered in Savannah, Ga., with a capital of $300,000. Major Thomas A. Brander, a prominent ex-Confederate, died at his home in Richmond. R.H. Nicholas, a native of Baltimore, and superintendent of the New York, Philadelphia and Norfolk Railroad, died in Philadelphia. The bill providing for separate cars for whites and negroes on the railways passed the Virginia Senate without a dissenting vote. The governor's approval is a foregone conclusion. In a collision between a special passenger train and a freight train at Waycross. Ga., fifteen passengers were injured. The Philadelphia coroner's jury found four persons responsible for the death of Miss May Bibighaus in the opium joint. The Cannjobarie (N.Y.) National Bank suspended, and E. J. Graham, national bank examiner, was placed in charge. Six hundred operatives at the American Hide and Leather Company's tanneries in Lowell, Mass., went on a strike. James and Amos Pierce were arrested in Chester, Pa., on suspicion of having murdured George B. Eyre. Frederick Lempke, a Christian scientist, committed suicide by thrusting his head into a red hot stove. Six thousand dollars' worth of diamonds was stolen from Joseph K. Davidson & Son in Philadelphia. The third dynamite outrage in Leadville, Col., wrecked the home of A. V. Hunter, the millionaire. Lewis Havens, of Philadelphia, died suddenly in a ear at Lenoir, N. C. A fire at Dawson City destroyed $400,000 worth of property. Samuel Peter Meyers was hanged at Somerset. Pa.
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CANAJOHARIE BANK TO REOPEN. Canajoharie, N. Y., May 11.-The - stockholders of the Canajoharie National Bank, at a meeting today, unanimously voted to reduce the capital stock from $125,000 to $50,000. and to resume business, which has been suspended since January 25. The assessment of 25 per cent on the original stock was all paid in. Controller Dawes will be asked to reopen the bank next week.
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Canajoharie Bank Resumes. The Canajoharie National Bank of Canajoharie, N. Y., which suspended payment and was placed in the hands of a receiver January 25, 1900, having complied with the conditions imposed by the controller of the currency precedent to its resumption, and now being in a solvent condition, has been restored to the management of its officers and directors and permitted to resume business as an active national banking association.
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NUGGETS OF NEWS. The amount of bonds so far exchanged at the treasury for the new 2 per cent consols is $271,348,850. North York, a hamlet on the line of the Wisconsin Central railroad, was entirely destroyed by fire last night. In a quarrel over children at Scranton, Pa., Mrs. Pace slashed Mrs. Bellows with a butcher knife, perhaps fatally. Near Harrisonburg, Va., Edward Phillips resisted an attempt of Deputy Sheriff Karicobe to arrest him and was shot dead. The Peruvian government has ratifled the resolution of congress approving the extradition treaty with the United States. The directors of the Baltimore and Lehigh railroad yesterday declared a dividend of 2 1/2 per cent on the company's $843,500 capital stock. The Canajoharie National bank, of Canajoharie, N. Y., which suspended payment and was placed in the hands of a receiver Jan. 25, 1900, has resumed business. In unveiling a memorial of Admiral Farragut at Lewes Ferry, Tenn., yesterday Admiral Dewey declared Farragut "the greatest naval commander in the annals of our country."
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Canajoharie Bank Resumes. The National bank of Canajoharie, N. Y., which suspended payment and was placed in the hands of a receiver Jan. 25, 1900, having complied with the conditions imposed by the comptroller of the currency precedent to its resumption and now being in a solvent condition, has been restored to the management of its officers and directors and permitted to resume business.
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Suspended Bank Resumes. WASHINGTON, May 16.-The Canajoharie National bank of Canajoharie, N. Y., which suspended payment and was placed in the hands of a receiver Jan. 25, 1900, having complied with the conditions imposed by the comptroller of the currency precedent to its resumption and now being in a solvent condition, has been restored to the management of its officers and directors and permitted to resume business as an active national banking association.
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Canajoharie Bank Resumes. The National bank of Canajoharie, N. Y., which suspended payment and was placed in the hands of a receiver Jan. 25, 1900, having complied with the conditions imposed by the comptroller of the currency precedent to its resumption and now being in a solvent condition, has been restored to the management of its officers and directors and permitted to resume business.
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The National bank of Canajoharie, N. Y., which suspended payment and was placed in the hands of a receiver Jan. 25, 1900, having complied with the conditions imposed by the comptroller of the currency precedent to its resumption and now being in a solvent condition, has been restored to the management of its officers and directors and permitted to resume business.
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FINANCIAL BILL HOTLY DENOUNCED Senator Clarke of Arkansas Hits Several Fierce Blows ALDRICH ATTEMPTS REPLY Investigation of Causes of the Panic Is Demanded by Senator Clarke, Who Also Denounces New York Stock Exchange. Washington, March 11.-Senator Clarke of Arkansas denounced the pending currency bill in a speech in the Senate today, declaring that no currency legislation should be enacted until an investigation is held as to the causes of the panic. "No such legislation is necessary now, said Mr. Clarke. "It is not only not necesI sary, but it may become dangerous. am not disposed to tolerate the idea of giving any support to the committee bill, nor the substitute proposed by the minority members of the Senate." If emergency currency is to be provided, Mr. Clarke said, the benefits should be extended all persons whose legitimate business demands cause them to need it. Mr. Clarke denounced the operations of stock exchanges and said the American people would not be satisfied with the proposed currency legislation without a complete knowledge of causes of the panic. "The time has arrived," he said, "when the affairs of the New .York stock exchange and other stock exchanges must be looked into." Mr. Clarke's reference to the stoppage of the payments by the New York banks called Mr. Aldrich to his feet with the remark that he did not believe the people would permit that course again to be pursued. "I trust the senator from Rhode Island as a historian," retorted Mr. Clarke, "but I do not trust him as a prophet." Mr. Clarke expressed the opinion that the majority would not pass the bill allowing the emergency circulation to be retired without limitation. Mr. Clarke said he would not only require a restriction of reserves, but he would deny to a national bank the right to pay interest on checking accounts. Senator Nelson suggested that the national banks should pay interest on the $250,000,000 of government deposits. Mr. Aldrich said that five years ago he had introduced a bill providing for the payment of interest on such deposits at the rate of 1 1/2 per cent, but, he added, senators had opposed that bill on the ground that it changed the nature of the loan. Former Senator Spooner and the late Senator Morgan, he said, opposed the bill. If that objection could be overcome he declared his willingness to again bring in such a measure. He did not know any reason unless it should be a legal one, of the kind suggested, why interest should not be charged on these deposits. Mr. Culberson, he said, had introduced a bill to require payment of interest on government deposits and it was now before the committee on finance. Mr. Bailey spoke at some length suggesting that the main purpose of his substitute was to favor the principle of government money instead of bank money He explained that he had provided for a distribution of the emergency currency in accordance with population, although he realized that business necessity was a greater measure of the amount they should have. But it was not possible to make sure of the business needs of the several sections and it was a simple matter to ascertain the population. An extended argument was made by Mr. Newlands of Nevada in favor of his view that the sending of a check from one state to another makes the business of banking interstate commerce.