12498. Gloucester City National Bank (Gloucester City, NJ)

View Charter #3936 on SPMC

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
3936
Charter Number
3936
Start Date
May 1, 1890
Location
Gloucester City, New Jersey (39.892, -75.116)

Metadata

Model
gpt-5-mini
Short Digest
4528027e976b185f

Response Measures

Full suspension, Books examined

Other: A reorganization scheme was later proposed but abandoned; the bank went into receivership and the receiver made partial dividend payments to depositors.

Receivership Details

Depositor recovery rate
52.5%
Date receivership started
1890-06-12
Date receivership terminated
1894-02-02
OCC cause of failure
Excessive lending
Share of assets assessed as good
8.9%
Share of assets assessed as doubtful
16.4%
Share of assets assessed as worthless
74.8%

Description

Multiple contemporaneous newspaper reports state a run began and the bank 'suspended' on May 1, 1890, after the failure of the Bank of America (Philadelphia), with the suspension evidently permanent: reorganization was abandoned (June 4, 1890), a receiver handled dividends (Nov 1890–1891), and assets were sold by the receiver in 1893. Cause of the run/suspension is failure of a correspondent/closely allied Philadelphia bank (classified as 'correspondent'). Dates taken from newspaper publication dates; suspension/run reported May 1, 1890. Receiver assignment date is not explicitly given in the articles, so receiver event date is left null but documented in snippets.

Events (5)
1. October 26, 1888 Chartered
Source
historical_nic
2. May 1, 1890 Run
Cause
Correspondent
Cause Details
Run was caused by the failure/suspension of the Bank of America of Philadelphia, with which Gloucester City National Bank was closely connected.
Measures
Bank closed building and posted notice of temporary suspension; suspended payments.
Newspaper Excerpt
A run began on the Gloucester City National Bank at Gloucester, N. J., as soon as the doors opened this morning.
Source
newspapers
3. May 1, 1890 Suspension
Cause
Correspondent
Cause Details
Suspension resulted from affiliation/connection with the Bank of America (Philadelphia) which had suspended/failed, precipitating withdrawals.
Newspaper Excerpt
Just before noon the building in which the bank is located was closed up and a notice posted up announcing the temporary suspension of the institution.
Source
newspapers
4. June 12, 1890 Receivership
Source
historical_nic
5. * Receivership
Newspaper Excerpt
The comptroller of the currency has declared a first dividend of 20 per cent. in favor of the creditors of the Gloucester City National bank ... The bank failed May 1, 1890. (Nov 1890 report); Receiver Jessup had not paid a second dividend (Sept 1891). Assets sold by the receiver (Dec 1893).
Source
newspapers

Newspaper Articles (23)
1. May 2, 1890 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, May 2, 1890

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A New Jersey Bank Suspends. PHILADELPHIA, PA., May 1.-A run began on the Gloucester City National Bank at Gloucester, N. J., as seon as the doors opened this morning, and just before noon the building in which the bank is located was closed up and a notice posted up announcing the temporary suspension of the institution. The Gloucester bank was closely connected with the Bank of A merica, which suspended here yesterday, and the run was caused by the failure of the Philadelphia concern. The bank did not do a very extensive business, and it is not thought that there will be any financial distress in Gloucester on account of the suspension. Mr. Charles E. York, the President, declined positively to make any Statements of the liabilities of the bank.

2. May 2, 1890 The Cheyenne Daily Leader Cheyenne, WY
Article from The Cheyenne Daily Leader, May 2, 1890

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Broke the Bank. GLOUCESTER, N.J., May 1.-A run began on the Gloucester City National bank as soon as the doors opened this morning. Just before noon the bank suspended. The run is the result of its affiliation with the Bank of America of Philadelpbia, which failed yesterday.

3. May 2, 1890 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, May 2, 1890

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Another Bank Failure. GLOUCESTER, N. J., May 1.-A run began on the Gloucester City National Bank as soon as the doors were opened this morning. Just before noon the bank suspended. The run was the result of its affiliation with the Bank of America of Philadelphia, which falled yesterday. Touching the condition of the Western farmers, General Butler said that the farms are passing out of the ownership of the tillers of the soil and they are becoming simply tenant farmers, the worth of the land having been wrested from them in spite of all their industry. Referring to the fabulous mortgaged debt on farm property, the speaker closed by saying: "As the payment of the mortgages is simply impossible, the payment of the interest upon them is also impossible, because they call for from 7 to 9 per cent and all statistics show that the average profits on farming industries are between 4 and 5 per cent only, hardly over 4. These mortgages never can be paid, if for no other reason, because they never can be paid if the debtors are ever 80 much disposed to pay them."

4. May 2, 1890 Evening Capital Journal Salem, OR
Article from Evening Capital Journal, May 2, 1890

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The Gloucester City, N. J. National bank has suspended. |

5. May 2, 1890 Evening Star Washington, DC
Article from Evening Star, May 2, 1890

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Another Bank Gone Under. CAMDEN, N. J., May 2.-The Fidelity Surety Trust and Safe Deposit Company suspended payment this morning. Charles L. Work, the president of the Gloucester National Bank, which suspended yesterday, was also its president. Bank Examiner Andrew, who is going over the books of the Gloucester City National Bank, stated to a reporter this forenoon that it is his opinion that the bank will be able to pay its depositors in full. A notice to this effect has been posted on the door of the bank.

6. May 2, 1890 The Morning News Savannah, GA
Article from The Morning News, May 2, 1890

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A BANK CLOSED BY A RUN. The Concern Closely Connected with the Broken One at Philadelphia. PHILADELPHIA, May 1.-A run began on the Gloucester City National Bank, at Gloucester, N. J., as soon as the doors opened this morning, and just before noon the building in which the bank is located was closed up, and a note announcing a temporary suspension of the institution was posted on the outside. The Gloucester bank was closely connected with the Bank of America, which suspended here yesterday, and the run was caused by the failure of the Philadelphia concern. The bank did not do a very extensive business, and it is not thought that there will be any financial distress in Gloucester on account of the suspension. Charles F. Work, president, declined positively to make any statement of the assets and liabilities of the bahk.

7. May 2, 1890 The Sun New York, NY
Article from The Sun, May 2, 1890

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The Gloucester City National Bank Sus. pends. PHILADELPHIA, May 1.-A run began on the Gloucester City National Bank at Gloucester. N.J., as evon as the doors were opened this morning, and just before noon the Jbank was closed and a notice announcing its temporary suspension. was posted: The Gloucester Bank was closely connected with the Bank of America. which suspended here yesterday, and the run was caused by the failure of the Philadelphia concern. The bank did not do a very extensive busi. ness. and it is not thought that there will be any financial distress in Gloucester on account of the suspension.

8. May 2, 1890 Fort Worth Daily Gazette Fort Worth, TX
Article from Fort Worth Daily Gazette, May 2, 1890

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A Gloucester Bank Suspends. PHILADELPHIA, Pa., May 1.-A run began on the Gloucester City National bank at Gloucester, N. J., as soon as the doors opened this morning and just before noon the building in which the bank is located was closed np and a notice announcing the suspension of the institution was posted. The bank was closely connected with the bank of America which suspended here yesterday, and the run was caused by the failure of the Philadelphia concern. It is not thought there will be any financial distress in Gloucester on account of the suspension. order tot be er.hun condit ms, it is wis 12 to build than araios a. mey complaints. dang 18, dican e avoided by keepi the sy: m in derfect Order by the use of Cascarine.

9. May 2, 1890 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, May 2, 1890

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PANIC-STRICKEN DEPOSITORS A Run on a Jersey Bank Causes Its Suspension. PHILADELPHIA, May 1.-A run began on the Gloucester City National bank at Gloucester, N. J., as soon as the doors opened this morning, and just before noon the building in which the bank IS located was closed up and a notice announcing the temporary suspension of the institution was posted on the outside door. The Gloucester bank was closely connected with the Bank of America, which suspended here yesterday, and the suspension was caused by the failure of the Philadelphia concern. The bank did not do a very extensive business. and it is not thought that there will be any financial distress in Gloucester on account of the suspension. Charles F. Work, the president, declined positively to make any statement of the assets and liabilities of the bank.

10. May 2, 1890 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, May 2, 1890

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RUINED BY UNSAFE RISKS. Insurance Company Loans Money Without Security. PHILADELPHIA, April 30.-Something of a sensation was caused by the announcement that an examination by the state insurance commissioner shows that the Life Insurance Company of America has loaned over $700,000 to various concerns which have no commercial standing. As a result stock of the concern has depreciated nearly a million in value. The president of the concern declared the loans perfectly safe. The Bank of America has suspended payment. The announcement did dot cause much surprise, as it was known in financial circles that there had been a heavy draft on it for several days. Branch offices in different parts of the city were also shut up. The deposits are said to amount to about $700,000. The bank is closely allied to the Life Insurance Company of America. Today's suspension was due to rumors set afloat Saturday affecting the credit of President McFariane, of the insurance company. NEW YORK, April 30.-The Homestead bank, Tenth avenue and Fifty-third street, has shut down. Bad business is the cause of the suspension. The bank had a capital of $100,000. It is said that every one will receive the money due him. GLOUCESTER, N. J., May 1.-A run was begun on the Gloucester City National bank as soon as the doors opened this morning. Just before noon the bank suspended. The run was the result of its affiliation with the Bank of America, Philadelphia, which failed yesterday.

11. May 3, 1890 Santa Fe Daily New Mexican Santa Fe., Santa Fe, NM
Article from Santa Fe Daily New Mexican, May 3, 1890

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Kept Bad Company. GLOUCESTER, N. J., May 3.-A run began on the Gioucester City National bank as soon as the doors were opened this morning. Just before noon the bank suspended. The run was the result of its affiliation with the Bank of America of Philadelphia, which failed yesterday.

12. May 3, 1890 Evening Journal Wilmington, DE
Article from Evening Journal, May 3, 1890

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ONE CENT. JERSEY BANKS CLOSED. The MacFarlane Rumors Shut Up Six Institutions. MANY PEOPLE ARE MOURNING. The Fidelity Surety Trust and Safe Do. posit Company, of Camden, and Its Branches, and the Mercantile Bank, of Atlantic City, Have Suspended Payment. CAMDEN, N. J., May 3.-The Fidelity Surety, Trust and Safe Deposit company, of this city, closed its doors yesterday. The suspension of this institution was expected when the announcement of the failure of the Gloucester City National bank was made. The concerns were very closely allied. Charles R. Work was president of both, and Charles C. McNaughton was a director in both institutions. Cashier Samuel W. Stokes, of the Gloucester bank, was also a director in the Fidelity. President Work Talks. A reporter saw J. Austin Ellison, treasurer of the Fidelity, but he declined to make any statement. When asked whether the depositors would get their money, lie said: "I decline to say anything." President Work said: "Under a raid no company can stand. Weare all right if we are given a chance to realize without sacrifice on our assets. This has all come froma the report that I had stock in the Bank of America. I sold out my Bank of America. stock over a year ago and since that time have had no connection with it whatever." Scarcely a Ripple Caused. The company was organized under the state laws. The capital is announced as $200,000, but it is claimed that but a small portion of this is paid in. The company has been doing business less than thirty months. Its suspension caused scarcely a ripple in Camden financial circles. The Boy's Check Was Not Cashed. President Work and Secretary and Treasurer J. Austin Ellison conducted the entire business, and early in the morning they assured depositors that the concern to meet was plication able of Richard its obligations Deer, 14 years The old, ap- for $27, the amount of his savings on deposit, was the last straw. Secretary Ellison informed him that the company was unable to pay the money at that time, but would do so in a few days. The boy was the first to be refused, and left the office with tears rolling down his cheeks.

13. May 8, 1890 The Wahpeton Times Wahpeton, ND
Article from The Wahpeton Times, May 8, 1890

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FOREIGN CULLINGS. It is announced that an English syndicate has purchasad the Western railway Argentine Rrpublic for $41,000,000 gold. A motion for want of confidence in the Jesuit estates act was defeated in the Canadian parliament-32 to 130. Six Conservatives voted against the government. The state ofsiege on the Island of Crete has been raised and martial law has been abolished. The Christians on the island are jubilant. The Brazilian minister to Italy has been recalled because he failed to present to the Italian government the decree of his government forbidding Italian emigrants to enter Brazil. While the duke and duchess of Edinburgh were attending the cerimonies of opening the electric exhibition in Edinburgh, the jewels of the duchess were stolen from their apartments in the Balmoural hotel. The Gloucester City National Bank of Camden, N. J., has closed its doors. The suspension is supposed to be due to the failure of the Bank of America in Philadelphia with which it had dealings. The officials decline to make any statement. The immigration season has opened at Quebec when the fir st two steamships of the year, the Sardinian and Oregon, arrived with nearly 1,600 immigrants, who went West in twenty-twocars, thirteen of which contained passengers for the American Northwest via Chicago.

14. May 9, 1890 The Hot Springs Star Hot Springs, SD
Article from The Hot Springs Star, May 9, 1890

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THE Gloucester City National Bank of Camden, N. J., has closed its doors. The suspension is supposed to be due to the failure of the Bank of America in Philadelphia with which it had dealings. The officials decline to make any statement.

15. May 21, 1890 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, May 21, 1890

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THE NEWS EPITOMIZED. Eastern and Middle States. THE eight-hour workday movement was begun in New York city quietly. Only about a dozen men went on strike. The socialist labor party and the Central Labor Union celebrated the day by a parade and mass meeting at Union Square. There were demonstrations, also, at Philadelphia, Boston. Pittsburg, and throughout the Eastern States generally. JAMES PALMER, convicted of the murder of Henry T. Whitehouse, of Portsmouth, was hanged at Concord, N. H. CATTLE and sheep sheds and barns and stables, covering nearly eight acres of ground in the West Albany (N. Y.) Live Stock Yards. were laid in ashes by an incendiary's match. THE Assembly in Albany, N. Y., passed a bill to abolish capital punishment. GEORGE WEBBER was killed at Belknap crossing, near Attica, N. Y., by being struck by a train. His wife's skull was fractured, injuring her fatally. THE failure of the Bank of America in Philadelphia has been followed by that of the Gloucester City (N. J.) National Bank. At the time of the failure the deposits were about $40,000. The depositors are mostly poor working people. FECHHEIMER, RAU & Co., shirt manufacturers of New Yorkcity, have failed; approximate liabilities, $350,000; assets, $275,000. PATRICK D. FLANNIGAN entered a saloon at Waterbury, Conn., ani asked Michael McDermott to drink with him. As McDermott responded Flannigan, without a word, emptied the six barrels of a 32-calibre revolver into McDermott's face and throat and then walked out. McDermott died within an hour. THE Fidelity Surety, Trust and Safe Deposit Company, of Camden, N. J.; the Port Norris Bank, the Merchants' Bank of Atlantic City, N. J., and the Merchants' Bank of Pleasantville, N. J., suspended payment. SHARPERS stole $1000 from the Rev. Father Thomas J. Ariens at Bridgeport, Conn., and left a baby on his hands. CRIMINAL proceedings have been begun against the officers of the broken Philadelphia banks. WILLIE HULSE. aged ten years. son of J. H. Hulse, No. 329 Hu ison street, New York, was shot and instantly killed by his playmate, Charles Sickles, aged fifteen, at Good Ground, Long Island, N. Y. A RUNAWAY accident occurred in Maple avenue, Penn., in which Willie Fitzpatrick. eight years of age, was instantly killed. His little sister was fatally injured, and two other children were badly bruised and cut, and the father of the dead boy was severely injured. Mrs. Fitzpatrick became violently insane after the accident. THE entire business portion of South Dayton, N. Y., has been destroyed by fire. Loss, $20,000. IN New York and Brooklyn nearly all the carpenters went to work under the eight hour day system. There was no striking necessary to gain this point. ASHINGTON QUINLAN, a member of the New York Stock Exchange, has disappeared owing about $100,000. JOHN CROMOCK, a morphine eater, killed his thirteen-year-old daughter at Foxboro, Mass., and then committed suicide. THE Singer Sewing Machine Works. at Elizabethport, N. J., covering two acres of ground, were almost wholly destroyed by fire, together with a considerable amount of the railroad property adjoining. The works employed about 3500 hands. The loss is about $3,000,000.

16. June 4, 1890 The Jersey City News Jersey City, NJ
Article from The Jersey City News, June 4, 1890

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The Bank Will Not Resume. Special to the Jersey City News. CAMDEN, N. J., June 4, 1890.-The reorganization scheme of the suspended Gloucester City National Bank has been abandoned, the business men failing to interest themselves in the plan.

17. November 8, 1890 Evening Journal Wilmington, DE
Article from Evening Journal, November 8, 1890

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THE NEWS IN BRIEF. Condensed Telegrams Gathered from Va. rions Places. The treasury department is issuing new one dollar notes at the rate of 4,000 a day. The issue will continue until the string. ency in the market for small notes is overcome. Robert Nelson Gere, a member of assembly in 1862, and prominently connected with salt, banking and manufacturing interests, died at his home in Syracuse, N. Y., Nov. 7. The Mutual Fire Insurance company, of Chicago, has filed a general assignment. Liabilities, $57,604.89: nominal assets, $187, 660.60. Unusually large losses, a consequent assessment, followed by a loss of confidence and withdrawal of holders of premium notes caused the suspension. A boiler in Baker Brothers' cotton gin at Dyersburg, Tenn., burst, killing two negroes and wrecking the gin. Lord Chief Justice Coleridge, who, while presiding over the queen's bench division of the high court of justice, was taken seriously ill with an attack of acute gastritis, is rapidly recovering. His physicians dc not consider his ailment serious. The comptroller of the currency has de clared a first dividend of 20 per cent. in favor of the creditors of the Gloucester City National bank, of Gloucester City, N.J., on claims proved amounting to $27, 456.32. The bank failed May 1, 1890. H.S. Billings, for twenty-five years superintendent of the Pullman Palace Car company, died at Hornellsville, N. Y., Nov. 7. George Halstead, a well known merchant of Ashford Junction, N. Y., was struck by a passenger train on the Buffalo, Rochester and Pittsburg railroad and instantly killed. Nehemiah Allen Leonard, president of the Connecticut River railroad and one of the leading lawyers of the Hampden county bar since 1850, died at Springfield, Mass., Nov. 7, aged 65 years. Austin Gibbons, the Paterson (N. J.) special light weight, did up his Brooklyn rival in the same class, Mike Cushing, in nineteen rounds, at Providence, R.1 Maj. Gen. Miles reports that most of the western Indians expect a Messiah, and says the Mormons are at the bottom of it. Three men were killed at a duel on election day in a Kentucky mountain town. Thomas and Henry Harper have depart ed from New York, leaving large indebt r edness. They claimed to have invented a machine which would duplicate automat S ically the work of a hand painter on china. e Arrests for election frauds are ordered in Philadelphia, and there is a fugacious in n clination on the part of crooked politicians. e Politicians are divided on the New York 1 senatorship. Shrewd reasoners argue that neither Mr. Cleveland nor Governor Hill could take it, and some think a New York o city man may get it, though there are be e lievers in Smith M. Weed's chances.

18. November 12, 1890 Connecticut Western News North Canaan, Salisbury, Canaan, CT
Article from Connecticut Western News, November 12, 1890

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TELEGRAPHIC BREVITIES. The World's News Gleaned, Sifted and Condensed. FRESH TIPS FROM THE WIRES. Is Is Going on of Interest That of the What Reading The Wheat Whole World's Worth News Winnowed from a Week's Threshing. new treasury department rate of is issuing 4,000 a day. ency The dollar notes at the until the string- overone The issue in the will market continue for small notes is of ascome. Robert Nelson Gere, prominently a member connected inin 1862, and manufacturing terests, Nov. sembly with salt, died banking at his home and in Syracuse, of 7. Mutual Fire Insurance general company, assignment. $187, The has filed a nominal assets, a Liabilities, large losses, a loss of followed of holders 660.60. Chicago, assessment, Unusually $57,604.89 withdrawal by conse- of gin quent confidence and caused the suspension. cotton premium A boiler notes in Baker Brothers' burst, killing two negroes at and Justice Tenn., Coleridge, the gin. bench who, division while Lord Chief over the queen's justice, was taken seris rapidly his ailment ously of presiding the ill high with recovering. court an attack of His of serious. acute physicians gastritis, de- do has not consider comptroller of the currency 20 per cent. in The first dividend of of the Gloucester City, favor clared National of a the creditors bank, of amounting Gloucester to $27, City J., on claims proved failed May 1, 1890. 456.32. N. The bank for twenty-1 five Palace years Car superintendent H. S. died of at the Hornellsville, N. Nov. company, Billings, Pullman known merchant Y., by George 7. Halstead, a well N. Y., was Rochester struck Ashford Junction, on the Buffalo, killed. and of a passenger Pittsburg train railroad Leonard, dinstantly president one of of since Nehemiah Connecticut Allen River the railroad Hampden and county the the leading 1850, lawyers died of at Springfield, Mass., J.) bar Nov. 7, aged Gibbons, 65 years. the Paterson his Brooklyn (N. in Austin light weight, did Mike up Cushing, rival in at most of nineteen special the rounds, same class, reports Providence, that R.I. the Maj. expect a bottom of western the Mormons are at at a duel town. on says Gen. Indians Miles killed the Messiah, elec- and it. Three men were Kentucky mountain departday a indebtThomas New York, to have invented ed tion from They in and claimed Henry leaving Harper duplicate large have automat china. a ically the machine edness. which would hand painter ordered on in Arrests for there is a Philadelphia the part of the New York clination on work election are and of divided a frauds crooked on are fugacious politicians. argue that inPoliticians Shrewd reasoners Governor York Hill senatorship. Mr. Cleveland some nor think there a New are be neither could take it, and get it, though chances. has city man may Smith M. Weed's City, W. lievers in M. Nuttmin, of Jersey West Point with Harold been Loris appointed Armstrong, a cadet to of Montclair, N.J., H. Henry as Curtis, The alternate. president of New United Jersey, has pardoned States convicted Hill's army. of military desertion from Judson, the married Governor Nov. 6 to attend- Miss secretary, Col. Lathrop. was The governor the bride was Marion ed the reception. E. watch and His chain. gift The to watch chain is In costly studded the Vermont with diamonds. legislature to pay their of a 96 bill employes to com- 125; pelling weekly bill was corporations exempting by a vote soldiers from epi- the payment also a diphtheria of poll tax. is prevailing O. The in an sus- are demic Black form at Cygnet, business is deaths practically have the ocall closed A and number of are leaving annual report of Maj. Gen. to our place. pended. curred The and many large persons addition coast defense. Schofield fleet the and recommendatteries shore for been taken Cornelius from the Vizcaya to New hard luck. Hargraves wrecks Three of bodies and house have brought (Yonkers) and the suicide York. was The Getty Boston tailor in has received evidently a Perrin H. signed Summer "J. H. Edgar." of the a Speculator remarkable letter B. Price, president of Sedalia, Judge Mo., Col. Thomas Printing companded court. by An t e Gazette was shot and mortally Pitts county shooting. cattle John Higgins, of caused the known p election quarrel Greever, a fatally well wounded ex- at David was H. shot by and Charles Clifford, an man, pugilist Kansas from City San Francisco.

19. January 1, 1891 Gloucester County Democrat Woodbury, NJ
Article from Gloucester County Democrat, January 1, 1891

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IN THE FINANCIAL WORLD. JANUARY. 12. Bank of South Dakota at Madison assigned; assets, $130,000; liabilities not stated; as a result the La Belle Ranch Horse Importing company assigned; liabilities, $00,000; assets, $150,000. 16. L. II. Stone, San Francisco harness dealer, as signed; liabilities, $204,000; assets small. 28. John B. Lalande, cotton factor, assigned in New Orleans: liabilities, $364,000: assets, $544,000. 30. The First National bank, the Lenox Hill bank, and the Equitable bank, all in New York, closed by order of the United States bank examiner; George H. Pell, a broker, and P. J. Claassen, president of the Sixth National, arrested. MARCH. 7. Monroe Eckstein and Leopold Wertheimer, New York brewers, assigned; liabilities, $600,000. Beiloe freres, bankers, San Francisco, failed; liabilities large. 19. John F. Plummer & Co., one of the largest dry goods commission firms in the business, assigned in New York: liabilities, $1,000,000; assets about the same. APRIL. 8. Manhattan bank, of Manhattan, Kan., failed; liabilities, $600,000. 17. Louis Francke & Co., silk importers, assigned in New York; liabilities, $900,000. 30. The Bank of America, a state institution, at Philadelphia. suspended MAY. 1. The Gloucester City National bank at Glouces ter City, N. J., carried under by failure of Bank of America. Fechheimer, Rau & Co., shirt makers, failed in New York; liabilities $350,000; assets, $276,000. 2. The Fidelity, Surety, Trust and Safe Deposit company of Camden, N. J., the Port Morris bank, the Merchants' bank of Atlantic city and the Merchants' bank of Pleasantville, N. J., suspended payment; said to have been caused by failure of Bank of America. 14. The brokerage firm of Doran & Wright, of New York, with branches in the principal cities, suspended for $400,000. JULY. 29. J. E. Tygert & Co., manufacturers of fertilizers, Philadelphia, failed; liabilities, $317,000 AUGUST. 24. Financial panic in Buenos Ayres SEPTEMBER 3. Hixie & Meller, lumber dealers at Ontigo, Wis., failed; liabilities, $518,000. 4. Potter, Lovell & Co., publishers at Boston, sus pended; liabilities, $5,000,000. Sawyer, Wallace & Co., commission mer chants at New York, assigned; liabilities, $1,000,000. 14. Secretary Windom announced that he would buy $16,000,000 4 per cent. bonds and prepay the interest on the 6s in order to relieve financial stringency. OCTOBER 7. Second financial panic at Buenos Ayres. 14. F. H. Hogarty & Co., bankers at Aberdeen, S. Dak., assigned: liabilities, $240,000; assets, $240,000. 80. Isaac L. Falk & Co., New York clothiers, asalamed liabilities enea 000

20. January 3, 1891 The Dickinson Press Dickinson, ND
Article from The Dickinson Press, January 3, 1891

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IN THE FINANCIAL WORLD. JANUARY. 12 Bank of South Dakota at Madison assigned; assets, $150,000; liabilities not stated; as a result the La Belle Ranch Horse Importing company assigned; liabilities. 300,000; assets, $150,000. 16. L. H. Stone, San Francisco harness dealer, as signed: liabilities, $204,000; assets small. 28. John B. Lalande, cotton factor, assigned in New Orleaus: liabilities, $764.000: assets, $514,000. 80. The First National bank, the Lenox Hill bank, and the Equitable bank, all in New York, closed by order of the United States bank examiner; George II. Pell, a broker, and P. J. Claassen, president of the Sixth National, arrested. MARCH. 7. Monroe Eckstein and Leopold Wertheimer, New York brewers, assigned: liabilities, $000,000. Belloe freres, bankers, San Francisco. failed; liabilities large. 19. John F. Plummer & Co., one of the largest dry goods commission firms in the business, assigned in New York; liabilities, $1,00,000; assets about the same. APRIL. 8. Manha:tan bank, of Manhattan, Kan., failed; liabilities, $600,000. 17. Louis Francke & Co., silk importers, assigned in New York; liabilities, $900,000. 30. The Bank of America, a state institution, at Philadelphia. suspended. MAY. 1 The Gloucester City National bank At Glouces. ter City, N.J., carried under by failure of Bank of America. Fechheimer, Rau & Co., shirt makers, failed in

21. September 10, 1891 The Jersey City News Jersey City, NJ
Article from The Jersey City News, September 10, 1891

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GLOUCESTER BANKS. Dissatisfaction At the Manner in Which They are Settling. Special to the Jersey City News. GLOUCESTER CITY, September 10, 1891.It is now pretty generally believed that the depositors in the Gloucester City Savings Institution, the first financial concern which suspended payment in this city, have received all they will ever get. The payments thus far aggregate 67 per cent. of the deposits, and the receiver has not been able to realize sufficient since the last payment to pay an additional dividend of one per cent. There are several suits pending, but what the outcome will be is only a matter of conjecture. A meeting of the depositors of the Gloucester City National Bank was held last night, and great dissatisfaction was expressed over the fact that Receiver Jessup had not paid a second dividend. He stated that he was doing the best he could from the available assets. Committees were appointed to conter with him and the Comptrolier of Currency in their case.

22. December 26, 1893 The Houston Daily Post Houston, TX
Article from The Houston Daily Post, December 26, 1893

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# TELEGRAPHIC TIPS. Mrs. Sarah Johnson died at Camden N. J., yesterday at the age of 115 years. The mother superior of a New York seminary had an exciting experience with a burglar. The British steamer Buckingham was fined $900 at Norfolk, Va., for landing stowaways. Bank Teller Hill of the St. Nicholas bank of New York makes a clean breast of his stealings. Howard, on trial at Jackson, Tenn., was so ill last night that it was necessary to adjourn court. A bold attempt was made to rob the Farmers and Merchants' bank at Green Ridge, Mo., about noon yesterday. A lone bandit held up the station agent at Danville, Tenn., and secured a money package containing $500. Alf Davault has been formally announced as a candidate for railroad and warehouse commissioner for Missouri. John Ford, a North Side Chicago business man, was attacked by footpads and shot both of them. One will die. The effects of the National bank of Gloucester City at receiver's sale brought less than 2 mills on the dollar face value. A warrant was issued yesterday for W. P. Holmes, president of the Security Savings Trust company of Kansas City. A New York millionaire, bereft of family, committed suicide because he had no friends with whom to join in Christmas cheer. Captian J. D. Finney, owner of Belle Isle plantation, on Yazoo river, in Mississippi, was burned to death in his own house. Benweil, who aided Hill in the murder of Matthew Akerson near Sweet Water, Neb., was yesterday sentenced to imprisonment for life. John Ketterell was sentenced at Wichita, Kan., yesterday to ten years in the penitentiary for an express robbery committed in July last. Commander Whiting, U. S. N., and his Hawaiian bride arrived in Kansas City to spend Christmas with the commander's sister, Mrs. Atwill. Seven Lehigh operators have been arrested and charged with causing the wreck at Wilkesbarre during the strike, and which cost the company $170,000. The steamer New York, which has been ordered out to sea, presumably to go to Brazil, was taken off the docks and is being preparatory to sailing. Doc and Lee Sides, two notorious outlaws of Marion county, Alamaba, were released from jail at Russellville, Franklin county, Ala., by a mob Friday night. The murder of Hunter Wilson in Baxter county, Arkansas, a few days ago is still shrouded in mystery. Mrs. Wilson refuses to tell all she knows. Wm. Milne, the Missouri, Kansas and Texas fireman shot by bandits at Kelso, I. T., is in a serious condition. He was brought to the company's hospital at Sedalia. Superintendent Byrnes proposes that every member of the New York police force shall contribute one-half of 1 cent of one month's salary for the relief of the poor.

23. December 27, 1893 Pine Bluff Daily Graphic Pine Bluff, AR
Article from Pine Bluff Daily Graphic, December 27, 1893

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Worthless Securities. GLOUCESTER CITY, N. J., Dec. 27.The effects of the National bank of this city were sold by the receiver. Securities, the face value of which was $100,000, brought less than $200. The ratio was about 2 mills on the dollar. A judgment for $57,000 against C. L. Work, the president of the bank, sold for $101.