Mechanics National Bank (Newark, NJ)

View Charter #1251 on SPMC View balance sheet

Episode Information

Episode UID
125100982
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
12510 national
Charter Number
1251
Start Date
October 31, 1881
Location
Newark, New Jersey (40.736, -74.172)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
c3a0c9ed4c9be966

Response Measures

None

Receivership Details

Depositor recovery rate
67.4%
Date receivership started
1881-11-02
Date receivership terminated
1896-12-22
OCC cause of failure
Fraud
Share of assets assessed as good
80.9%
Share of assets assessed as doubtful
13.4%
Share of assets assessed as worthless
5.7%

Description

The bank was permanently closed and placed in receivership following a massive internal defalcation; while a new bank was organized by former directors to take its place, the original institution remained in liquidation.

Events (5)
1. June 9, 1865 Chartered
Source
historical_nic
2. October 31, 1881 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Cashier Oscar L. Baldwin confessed to a defalcation of approximately $2,000,000, leaving the bank insolvent.
Newspaper Excerpt
The following appeared on the doors of the Mechanic's National Bank at 9:55 this morning: 'Closed in consequence of statements affecting the bank made by the cashier to the board of directors yesterday, which are now undergoing investigation.'
Source
newspapers
3. November 2, 1881 Receivership
Source
historical_nic
4. January 1, 1882* Receivership
Newspaper Excerpt
Frederick Frelinghuysen, is lawyer in Newark, and was lately appointed by Comptroller Knox receiver of Mechanics' National bank of Newark
Source
newspapers
5. June 18, 1882 Other
Newspaper Excerpt
Arrangements are well advanced for the reestablishment of the Mechanics' National Bank... The capital of the new bank will be $300,000
Source
newspapers

Newspaper Articles (23)
1. October 31, 1881 Evening Star Washington, DC
Article from Evening Star, October 31, 1881

Click image to open full size in new tab

Article Text

Telegrams to The Star. SUSPENSION OF A NEWARK BANK. Heavy Defalcation of the Cashier. THE FRENCH GUESTS AT NEWPORT. UNPUBLISHED PARTS OF PARNELL'S LETTER. A Heayy Defalcation. SUSPENSION OF A NEWARK NATIONAL BANK-THE CASHIER ALLEGED TO BE $2,000,000 IN DEFAULTOTHER FAILURES EXPECTED. NEWARK, N. J., October $1.-The following appeared on the doors of the Mechanic's National Bank at 9:55 this morning: "Closed in consequence of statements affecting the bank made by the cashier to the board of directors yesterday, which are now undergoing investigation." Particulars will be furnished soon. The bank has been regarded as the strongest in Newark. The stock stood at 180. NEW YORK, October 31.-The Evening Post says: "All the rumors current agree on the point that there has been a heavy defalcation, and this is generally charged to the cashier, O. L. Baldwin, who was the active executive officer of that bank. It is said that yesterday he called the directors together and confessed to them that all that was left of the resources of the bank was its building, which is worth about $50,000. The New York correspondent of the bank was the Mechanics' National Bank of New York. This latter is one of the soundest and most conservative institutions here, and it loses nothing, being secured by good collateral for all advances made. Mr. Baldwin called at this bank on Saturday, and wished to withdraw some of the collaterals he had pledged there, but this was not permitted, and his inability to get hold of them may have forced the discovery of the rottenness of his bank. The firm of Nugent & Co., or Newark, haf suspended. This concern was involved with the broken bank. Other failures are expected. Another special says: A meeting of the directors was held yesterday afternoon, and Cashier O. L. Baldwin stated to them that the bank was not in a condition to pay and that the liabilities were SO great that further attempts to carry on business would be useless. The directors then offered to subscribe $500,000 to put the bank in condition for business, but the cashier responded that $2,000,000 would not do it. The directors then decided to suspend business at once. The news came like a thunderbolt on the community. There was not a suspicion that the institution was not the strongest in Newark. The directors have been considered the most trustworthy body of men in the city, and the reputation of Baldwin, as a financier, probobly stood first in the state. The bank is closed to all comers, and no official facts have been made known beyond the arrest of Baldwin on a charge of embezzlement, and the sending for government examiners. The Post's financial article, referring to the fallure, says it will cause no surprise if this failure causes a general testing of the soundness of other institutions; and in the loan market there is considerable shifting ef affairs. [A private telegram received here this morning reports that the Mechanic's National Bank, of Newark N. J., has failed, and that the cashier is a defaulter to the extent of $2,000,000.]

2. October 31, 1881 The Rock Island Argus Rock Island, IL
Article from The Rock Island Argus, October 31, 1881

Click image to open full size in new tab

Article Text

MONDAY'S MENTION. A Bank Failure at New York City. y a Political Talk in the National Capital. Sporting Notes and Miscellaneous Notes. yuses BANK CLOSED. NEW YORK, Oct. 31. The following appeared on the doors of the Mechanics National Bank this morning "closed in consequence of statements affecting the bank made by the Cashier to the Board of Directors yesterday, which are now under going investigation," The bank is regard ed as as the strongest in New York; stock stood 1.40. CAN' PAY ITS DEBTS. Post Newark, Cashier of the Mechanics National Bank yesterday told the Directors that the bank was unable to pay its debts. They offered to subscribe half a million, but said two million wouldn't do it, and they decided to suspend. The last state. ment showed deposits of $2,417,000. James A. Halsey is President and Oscar L. Baldwin, Cashier and Manager. Baldwin is considered responsible for the trouble. The news was a thund er clap. The institution was deemed the strongest in Newark and officers the most trustworthy, while Baldwin stood high as a financier. He has been ARRESTED as an embezzler, and the Government Examiner sent for. Its New York connection loses nothing, having|refused to allow Baldwin to withdraw his collaterals. Nugent & Co., who were involved with the bank, have suspended. Other failures are expected. It is stated the only resources of the bank are a building worth $50,000. The waraant of arrest charges Baldwin with confessing to the board that he had fraudulently used two millions of its funds. Directors are setting with closed doors. The wildest rumors are afloat. Nobody but the cashier is suspected. He had the unlimited confidence of the board. His confession was made because he feared to have a bank examiner. The city and county lose about forty thousand each of deposits, Water board $136,000, and man ufacturing companies smaller amounts. It is not yet known where the money has gone, but it is alleged THAT THE WALL STREET SPECULATIONS of the cashier absorbed it. It appears that Baldwin got away with everything but the safe, which was a very heavy one. The bank held all the deposits of the old Mu tual Life Insurance company, amounting to, it is said, from nine hundred thousand is to a million four hundred thousand. It believed that not any of the amount is saved.

3. November 1, 1881 Daily Globe Saint Paul, MN
Article from Daily Globe, November 1, 1881

Click image to open full size in new tab

Article Text

NEW YORK. Oct. 31.- - The Post's Newark N. J., special says: The directors of the Mechanics National bank, the largest bank in Newark, this morning annourced its suspension. A meeting of the directors held yesterday afternoon and the cashier, O.L. Baldwin, said the bank was not in condition to pay and that the liabilities were so great that further attempts to carry on the business would be useless. The directors then offered $600,000 to put the bank in condition for business, but the cashier responded that $200,000 would not do it. The directors then decided to suspend business at once, The bank's last statement, issued in October, showed liabili-

4. November 1, 1881 Lancaster Daily Intelligencer Lancaster, PA
Article from Lancaster Daily Intelligencer, November 1, 1881

Click image to open full size in new tab

Article Text

Gutting Banks. For the cleanness of their sweep the operations of the manager of the Mechanies' National Bank, of Newark, bear off the palm from any bank cracksmen whose performances history has yet recorded. The capital of half a million and a surplus of nearly as much more has been taken, and more than as much more beside out'of the deposits, during eight years, and nothing is suspected of the speculation until the operator, finding there is nothing more to take, and that the bank can no longer be run, calls its directors together and tells them the facts. There was nothing mysterious about the way he did it. Hesimply took the money from time to time and accounted for it on the books by charging it to the account of the bank in New York which was its agent there. The one fact which will impress those interested in banks is the self-evident one that they have no protection at all against the dishonesty of the man who is in supreme charge of its affairs. In this case it was the cashier; the president, on account of his advanced age, knowing nothing of the conduct of the business. All the examinations made of the bank's books were of no value whatever, since the examiner did not ascertain the fact as to the credits they claimed. Evidently bank examinations that do not go beyond the statement of the. officers as to the reality of the claimed assets are a delusion and a snare. This officer had the unlimited trust of the community, and the bank's credit was unchallenged ; yet in a moment it is found that all its property has gone as Mr. Fisk would say, "where the woodbine twineth," and nothing is left, but the bank building which could not be stolen, and the individual liability of the stockholders to the amount of the par value of their stock, to satisfy a million or two more that has been taken which was held in trust by the bank. It is enough to make owners of bank stock feel very serious and to call for a speedy remedy.

5. November 1, 1881 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, November 1, 1881

Click image to open full size in new tab

Article Text

TELEGRAPHIC A Broken Bank. New York, 31.-Post's Newark: The cashier of the Mechanic's National Bank, yesterday, told the directors that the bank was unable to pay its debts. They offered to subscribe $500,000, but he said $2,000,000 would not do it, and they decided to suspend. The last statement shows the deposits were $2,417,000. Jas. A. Halsey is president, and Oscar Baldwin cashier and manager. Baldwin is considered responsible for the trouble. The news was a thunderclap. The institution was considered the strongest in Newark, and the officers most trustworthy, while Baldwin stood high as a financier. He has been arrested as an embezzler, and a government examiner sent from here. The New York connection loses nothing, having refused to allow Baldwin to withdraw his collateral. Nugent & Co., who were involved with the bank, have suspended. Other failures are expected. It is stated that the only recources of the bank are a $50,000 building, and $500,000 gold from Europe to-day The warrant of arrest charges Baldwin with confessing to the board that he had fraudulently used $2,000,000 of the bank's funds. The directors are sitting with closed doors. The wildest rumors are foot Nobody but the cashier is suspected. He had the unlimited confidence of the board. His confession was made because tin feared a visit by the bank examiner. The city and county lose about $40,000 each of deposits; the water board $36,00 and manufacturing compa ies, smatter amounts. It is not yet known where the money has gone to, but it is alleged that the Wall street speculations of the cashier absorbed it. It appears that Baldwin got away with everything but the safe, which was a very heavy one. The bank held all the deposits of the Old Mutual Life Company, amounting to, it is said, from $900,000 to $1,400,000. It is believed not a penny of the amount is saved. Cashier Baldwin, of the Mechanics' Bank, while confined to his residence, was waited upon by the United States district attorney and Commissioner Kessby, and admitted to bail in $25,000, to appear at court. His bondsmen are Wm. A. Freemen, of Bloomville, Wm. Baldwin and Matthias Dodd, of East Orange. Baldwin then stated freely that about '73 he began to make loans to C. Nugent & Co., morecco manufacturers, without security, on the sanction of the directors. Having begun he was in the power of Nugent & Co., and continued the accommodations, sometimes loaning them 50,000 in one month, till the total increased to a ruinous amount. Nugent assured him that he had large property and cash assets in the business, which would make all the loans good. Nugent was well aware that he (Baldwin) was using the bank's money, and always promised to surrender his property in case of trouble. Under these circumstances the loan increased till it reached $2,000,000. The manner in which thus business was transacted was this: Nugent will give drafts on friends in New York, which would be credited him as cash, and Baldwin would use the bank's money to take up the drafts when due. The books were so falsified as to show the accounts to be correct. Finally, however, the losses were placed in the account of the Mechanic's Bank, New York, against he Newark bank, so that while it apbeared that the Newark bank had claims for $2,000,000 against the New York bank, in truth the Newark bank owes the New York bank$200,000. This difference is almost wholly due to irregula transactions with Nugent. He said he had speculated very little and lost sothing in that way. The district attorhey says Nugent can be held liable for his part of the transaction under the direction of section 5209 United States Revised Statutes. The rumor that Nugent made an assignment to-day is premature. His accounts are involved with the banks and await further developments.

6. November 2, 1881 Daily Globe Saint Paul, MN
Article from Daily Globe, November 2, 1881

Click image to open full size in new tab

Article Text

the money by IIIIII IS There is reason amazing for doubting the true explanation of the same whether amount taken. made. At disposition the the funds has yet been in of nothing has yet come to light Wall lost time which shows that the money fear was that street, exchange speculation. The banks in in there stock would be a run on the Savings' New Jersey has not been realized. A MAN WHO KNOWS. of Early yesterday morning a representative who inEvening Post met a gentleman of trouble quired the if there was not a rumor such a report in a Newark bank. Being simply: told Mechanics? current, he said, because it has been was Yes. Then, said he, it is money, has gone by its cashier and the inquiry the robbed speculation. On further building in stock said that in a certain which not gentleman the Mechanics' bank, of the remote from under control building was cashier and some of his defaulting person had for some time occu and friends, a office which suited him vacate, entirely when, pied an was not disposed to to sur which to his astonishment, he offered he was finer requested and more at- a render it, but was same building at tractive quarters in the willingly accepted the transaction. lower rent, and of The course occurrence was thought and inquiry provoked to be queer and Then naturally it was found that a ticker Wall observation communicating with and telephone put into the room, which tube was street,had been connected by a speaking hereafter furthermore the national banking house. were conwith and some of his' 'friends who the cashier at the room, and the person up stant visitors that he shortly gave the tells Mechanics' the story avers bank and looked upon unhad the merely as a matter of time. who crash This is directly from of knowing a man and observing usual opportunity utely contradicted by statements whom he It is absol and of brokers with connected. the cashier be most intimately entirely is reported to likely that there will be few It now seems developments after a the cashier. new days, and which surprising will involve others beside DISCLAIMING LOSSES. N. J., Nov. -Warren Mechanics' AckerNEWARK, former director of the the man, a bank, who remonstrated against National power, has began a law suit negligence. against one-man Halsey for loss caused by the large President that he received They say Nugent denies stated by Cashier Baldwin account stood amounts they cannot ascertain because Baldwin how his had them 80 at the bank. and he was in latter's power. mixed None up, of the banks are seriously involved with the Mechanics. of the Mutual Benefit Life that In The president company, telegraphs their agent them, their surance failure does notembarrass reduced since deposits the bank's having been steadily May Collections received from agencies have been deposited in the Nov. State 1. bank. District Attorney NEWARK, N. J., the surrender of propKeasby has demanded factory, on the ground from that the erty in Nugent's by money obtained in case bank was acquired under promise of turning it over of necessity KNOWN FOR SOME TIME. NEW YORK, Nov. 1 The Peoples' bank of New- has claim against the Mechanics' bank Exch ange a ark for $29,000,and the Connecticut bank one of $13,000. well acgentleman The Express with the says condition a of the this leading afterknowledge noon, that, money quainted institutions in the city said of the Newwas on condition ark street me banks ths ago. The bankers paying on teller lower of Wall of the most prominent a messenone told him three weeks ago into the Broadway neighboring bank rushed big hole in the Mechanics' ger office from and blurted out: bank There's in a Newark out up look to be from made under The teller was and boys; stand out when he heard the intelligence he was cirpaying messenger to be silent, as alone to told the report damaging, not only The culating a but to city banks. the Newark bank, confirmed what he had messenger afterward the rumor had got said by the remarking clerks in that his bank and he thought among good piece of news. it a GOSSIP AND SPECULATION. the wreck of the Mechanics' National business In at Newark, what strikes the and bank men as strange is, that the should directors, have first, never bank examiners, it worth while next, to verify the statement had over thought Cashier Baldwin The bank York The at of in deposits in New exploded $2,000,000 to verify this would is have said, when tempt the deception at once, item and, of this kind there was an the amount of the capital, it about five have times been thoughta verification reason would for would made. There is yet directors no know have been the rumor that some to ad believing the matter than they care Attorney more about United States District mit. It seems satisfied after an examination Keasby became of the Mechanics' bank and paof the books to Nugent & Co. aasertions surrendered of pers Cashier relating Baldwin that the were subby his voluntary statement demand Baldwin in And he made the stantially true Nugent's counsel, that the proJudge Jesse, in the hands of Nugent receiver & Co. be in perty now surrendered to the abstract immediately restitution of the amounts with Baldwin. partial ed by Nugent attorney in complicity exhibited to Jessie The district on which the claim is based, were pro- and some papers the goods now in the factory drawn insisted the application of money property duced by bank, and were in full the allowed to from the bank. Jessie asked to be matter and of the expert examine the be have an himself, the property should com- left pledged undisturbed until the examination was and he could give an answer. attorney pleted stated to the district from Nu- he Baldwin per cent. ommission taking received for 1 negotiating business. his paper Counsel and for gent charge of his banking believed his client would enabled to prove Baldwin said he the truth of all in said his that had with been regard to transactions It has confession Nugent & Co. with the bank. August, with C. been ascertained that during drawn September already and October the firm He had thought the about $487,000. to long from the figures bank were this nearly it $500,000. would not With such take Of had been some drafts as draw out $2,000,000 money course paid into there the bauk not by reach Nugent 50 per & Co., cent. but of the the payments Counsel did for C. Nugent said he false. would C. drafts. to show Baldwin confession amount be able & Co. had not drawn such in and he Nugent in excess of their credit, be 10 per as $2,000,000 if the excess would making doubted even amount. The firm was a up moneys cent. of that statement from the books and drawn paid

7. November 2, 1881 Knoxville Daily Chronicle Knoxville, TN
Article from Knoxville Daily Chronicle, November 2, 1881

Click image to open full size in new tab

Article Text

The Newark Bank Failure. NEWARK, N. J., November 1.-Warren Akerman, a former director of the Mechanics' National Bank, has begu 1 a 'lawsuit against President Haisey for a debt caused by negli gence. Nugert's counsel denies that he received the large amounts stated by the cashier, Baldwin. Hesays he cannot ascertain how his accounts stood at the bank, because Baldwin had the accounts so mixed up that he was in the latter's power. A receiver has not yet been appointed. There are no further developments regarding Baldwin's operation.

8. November 4, 1881 Iowa County Democrat Mineral Point, WI
Article from Iowa County Democrat, November 4, 1881

Click image to open full size in new tab

Article Text

Brought Banker Baldwin's Big Bank Bad Bankruptcy. A Round Million and a Half Taken Out and One Million Returned. Casualties, Crimes. The Newark Bauk The Oct follow NEWARK, N on J. the door of morning the Meing applicational appeared bank, this statements bank chanics "Closed in consequence made by the cash are affecting to the the board of investigation directors which The in bank was now ier, undergoing 1 considered the strongest The Post's New Newark NEW ORK, Oct. says 31 the Newark di ark, J. special the cial Mechanics national an of this orning suspens rectors bank, in Newark, suspension A meeting vester of nounced its a meeting, Balddirectors held Cashier O. the afternoon, and bank was not in a day stated that the that the liabilities to win condition to pay that an attempt so great would be useless. to were on business offere to subscribe condiand $500,000 carry The directions then put the lank in But the for tion business. do not it. at pend business sponded The directors that then decided The bank in issued October statement, as ed show Capital follows last liabilities plus. 400,000 $500,000 stock, notes divi bank nation $45,009 detosits $2,417 $3,962; 407 cashier dends unpaid checks, $68 banks 215; certified 366: due other national $70,912 check, due state banks, of directors $134. is the boar L Baldwin Stephen The following Halsey Oscar A Halsey Louis Grover, Jas H Condict, James George long, Herm Joseph Howel, Clark, Henry Jos presi Halsty cash Baldw Hester Oscar officer dent and last named trouble The for the -clap on conside red responsible like th nder not The news came There vas the community unity not the the was that picion institution The Newark directors strongest the most have been trust of in and city body men worthy the Baldwin reputation stood financier, probably The the bank state. and no offi be first closed to all commerce made known Baldwin of charge facts have been the arrest of landsends for the ing cial vond report of examin government The Newark espondent Mechanics of New of the bank was York That this at bank lost nothing. and Baldwin pledged, withdraw but and bank Saturday he had his permitted ability get hold the some this was them of his The bank. The was concern the firm of Nugent involved Co. Other bank failures with the broker expected has long been esteemed flice The defaulting nd cashier liked in the Newark other both his fellows be as much and bank seem This Newark surpr saying much simply grieved since the eromment surprise citizen hear marked of that one the churches boundless He one would as soon were turnthe nding tip was ed and While Baldvir Sunday of its spire. to the directors, the bells statement own guill, which nonfessil Episcopal his church which he Trinity member and calling faithful Bald subscribed was liberal indt did sat in worsh church Little, friends think, that one of was lights their leading church last night that moment It thie himself seems confessing of was time Baldwin trustee ritgs Newark bank the deposited the Mechanics ostanding hereand signed ther the from account Through which some savings misund bank withdrew thus the resent failure Insur Bald guarding Newark agains Mutuai Benefit which At the New York intense. left pany for imm Newark win trustee, of the receipt The of the The president ediately on the under be stood quite involved heavily the officers Insurance before was man eached One impany of the said such they had stock character, Baldwin and married experienced of unim the father circles He children. In of social the aders, unexcept and his regarded four as one Financier was to positively refuses of his tional. reputation Baldwin the except calling ersonal anybody friends. with To answered persons that any his house his son could not see Bald father especially his being sick he reporters his boys chidren, 15 and 11 and old. stayed to win's body wife years and old. and it two his bedside friend, am go all day guilty and At years Baldwin said villing o'clock menitentiary missioner Keasby to the States Commiss called his United district attorney short hand Bald and the together with Titsworth, de house, Judge positive porter and ex. Baldwia of the funds win's attorney had used any nied that he for private onization the band Since the Nugent & and said the firm principal custhe bank, among their firm have have been Since 1873, and that without the tomers. loans, oard of directors made irregular of the reatening it. knowledge pelled me by all about Nugent comp the directors to give him to tell transactions time. Some these crooked money from time back 10 to the more bank more Nugent paid but he drew all those times per month hoped these $50,000 than he paid would refund always Nugent & Co. the firm to well a be aware very years knowing were for date. sums, wealth Nugent used Co the fund book Nugent of the loans of the made fact. them ed more up than $2,000,000 out The modus was & Co. receiv funds of the that bank Nagent for York New the bank Co. operandi gave checks some money and the funds of of to pay time. drafts firms from time to used to pay the book the are the bank were The entries in thought the firm. directors right. falsified, 80 the the bank was all wealthy Mo business of Nugent, of the firm of evenmanufa rested this rocco Nugent & house Co., was by the of deputy aiding and He gave funds beting from bail for the $25,000, to answer marshal ing at his Cashier on the Baldwin charge Mechanics in embezzling bank the

9. November 4, 1881 Iowa County Democrat Mineral Point, WI
Article from Iowa County Democrat, November 4, 1881

Click image to open full size in new tab

Article Text

the to law prehended and dealt prays with he according may be THE NEW YORK. TOPIC OF CONV ERSATION. the Mechanics Nov. National 1. The failure wark on the was the one topic of bank conv of Ne from it were street. No failures ersation it reported resulting know Was that said by parties up not to unlikely noon, none were expected. director a former Ackerman NEWARK. THE N. PRESIDENT J., Nov. SUED National Mechanics power, against President strated begun against the one bank man who of the debt counsel caused deny by that negligence. Halsey for amounts They as stated by he received say he cannot Cashier the None of accounts up and they Baldwin had stood were them at in the so the ascertain fearfully bank latter's Baldwin how because mixed the involved with other the Mechanics banks are seriously power life The insurance president of the Mutual agents that the company bank telegraph benefit their embarrass been them their failure The receipts steadily reduced since deposits May bank. THE been deposited from in the the state agencies AMAZED NEW YORK, ics It is national now understood Nov. that The its cashier bank about of Newark the Mechan loses is ledged even use more made of $2,609,000 the money The reason explanation for doubting amazing wh and there by him the funds have of vet the been true disposition her the same in Wall time nothing has made stock money was street, lost which shows come that to light the The ulations. sev. run on the savings that would be realized has not been bank in New JerJ. N. Nov. NEWARK, torney render Keasby has demanded District At. factory of on the property of the the sur mulated the ground that Nugent bank under by money obtained it was from accu- the necessity. over to the bank promise in case of turning of NEW Nov. YORK -Early morning who inquired was not there rumor of ing him Post if met representative gentlemen of the yesterday and a bank. trouble Newark that such then Yes: is simply, 'Mechanic a report current, said because in by stock its cashier and it the has been robbed quiry the speculation. money On further has certain Mechanics' building. :gentleman not said, that under the bank. control which remote building from son cashier and some of of his the fice, had which for some time occupied friends perwhich he suited him entirely an of quested when to his was astonishment. not disposed to vacate and fered finer to and surrender it, but he he was was ters of in some building more at attractive quar action. course. On willingly accepted lower the rent, thought to be becoming known. it trans. provoked Then it inquiry queer, and and naturally Wall and a telephone was found that observation a ticker room. street, which had been with ed by was furthermor but into the a speaking tube connect. cashier mote banking house with not constant and some of his Therealter the person visitors at the friends shortly who gave tells his story room, says and and looked upon up the the Mechanics the matter of time. This crash as merely man who is directly nity of knowing had and an unusual opportu- from ments absolutely contradicted observing, but with whom of the cashier and by of the stateIt now connected. timately he reported to be brokers that there will likely and few days, surprising which developments sides the cashier will involve others bebank NEW has YORK, Nov. 1.-The les' bank of claim against the Mechan People's the Corn Newark of $29,000 The Express Exchange bank of and quainted says gentlemen $13,000 leading with the condition well city said moneye institutions of the edge of this afternoon of this the Newark that the know]was on Wall street bank's condition said the paying teller a month ago. He most way told prominent banks of one of the messenger him that three lower Broadrushed into the from a neighboring weeks ago bank There is big hole office and blurted out Look out bank in Newark to be in the Mechanics ler was boys, stand from under made up. inteiligence, paying out when he The telsilent as he and told the messenger heard the facts not alone was reporting tion. but to the damaging afterward confirmed The mor had remarking that he had said messenger also Just by got to the city Newark banks the institu- what in his bank, among the clerks piece and he tlemen, of news. "I have "This," thought said the good to bereason good himself. and have from the paying teller genlieve him.' NEW the Mechanics YORK. Nov 1.-In the ark what National bank wreck strange. strikes business of New the bank is examine that the directors men first the never thought it worth next, should the statement bank had of Cashier while Baldwin with New York over in that there at once: and, exploded deception to verify was this would agents. have An deposit five an item of this as said, when cation would that a would is yet times no have the been have amount thought been made kind of capital, of verifi- about morthat some more admit. matter about It reason seems the of for the believing directors than they the There knew District that Attorney Keasby States of the examination of book papers fied after the Mechanics hasty United became satisrelating bank, and the the surrendered to Nugent & the tially that his voluntary true, assertions statements by Cashier of Baldwin Baldwin Co., in hence he made were the substanbe the on to gent a Judge Jesse, property & receiver. Co., now immediately Nugent's in the hands counsel, demand of that Nuthe in partial surrendered amounts abstracted by restitution Nugent of in

10. November 5, 1881 The Sentinel Trenton, NJ
Article from The Sentinel, November 5, 1881

Click image to open full size in new tab

Article Text

S Big Defalcation. stupendous defalcation that of O. has L The most in long time is that National taken place cashier a of the Mechanics' embezzleBaldwin, of Newark, N. J. Baldwin's years, and bank cover a period of eight The first ments more than $2,000,000. directors of amount intimation to received by the bank's at which Baldcondition was at a meeting was hopeits that the institution The win confessed involved through his peculations. In his leasly the bank suspended. dollar of next morning Baldwin said that every absorbed by confession immense deficit had been manufacturers of C. the Nugent & Co., well-known years ago he Newark; that twelve to C. Nuleather in money without authority everything had loaned and that since then & Co. did had gone to that firm; tbat but borrowed not repay the loans kept increasing, to refund; and gent that & Co., the first loan, positively Nugent the borrow- anew, each time promising came due, Nuers that sometimes when the notes head of the firm) (Christopher Nugent, saying gent and then borrowed more, nothing; paid a part that the bank should lose around his every that when time Nugent got the rope tighter every (Baldwin's) neck it was that squeezed to reveal the matter time, Nugent saying them both; that he held an would only amount ruin of Nugent's notes, without arimmense for any of them. Balwin the was sum of rested collateral and placed under bail & in Co. was seized $25,000. The store of instance Nugent of the bank, and by the sheriff Nugent at the was arrested, but released one Christopher bail. Cashier Baldwin respected was on $25,000 known and most intents of the best Newark, and, to all president is men and purposes in was the bank, as been the feeble and eighty years old and the has entire long direction of the ill; consequently in Baldwin's hands. To the as bank's affairs commissioner was Baldwin make said irregular that State 1873 he began to leather long ago the as firm of C. Nugent & these Co., loans loans to and that he made sanction of manufacturers, security and without the felt himwithout Having once begun he compelled the directors. the power of Nugent, who loans. This self in make further and further and year to him to from month to month month. continued to the amount of $50,000 a to him, year, often of Nugent's indebtedness assumed such The his amount to the bank, gradually recede without proportions and that he and could therefore not he allowed ruin and to further exposure, increase the loans, would his replace conNugent being that Nugent assured him stant hope fact, Nugent constantly and them. In had a large amount of property, Baldwin that he make good what he owed. well aware could that Nugent was perfectly bank's money, added money used was the whenthat the drawn, and always promised, all his propever irregularly it was required, to turn over erty to secure finally the bank. grew to be over two millions. Baldwin The loan system was carried on, different The way was the by Nugent's giving drafts credited on to said, in New York, which were and from friends his drafts on the bank, these him to to meet time he (Baldwin) would meet The books time with the money of the bank. Nugent's acdrafts falsified as to show that losses occawere SO all right; but the in account counts were these loans were placed York, SO that sioned by Mechanics' bank, of New the Newark with the it appeared by the books of two millions while it had on deposit about owes the bank that York, the Newark bank really that account in New bank over $200, 000, and & Co. is New York made up of loans to C. Nugent had not wholly Baldwin was asked whether he of Mr. and thus lost large sums money. only to speculated that he had speculated, but in the He replied extent, and had made money a Epeculations trifling Mechanics' in which National he had bank engaged. was the strongest largest in The Newark, and was regarded in the State. as the It was the financial institution of the funds of city and the county funds gov- of depository of trust funds, and manufacturother ernments, financial institutions some of which and of bad The declared immeing companies, payable this month. announcedividends for Baldwin's sudden fact that the diate necessity defalcation lay in the and had ment of bank his examiner was in the city, He had andistrict examined several banks. the Mealready his intention to examine held nounced National a week previous, but saw was that chanics' When Baldwin of off by the cashier. longer put off the examination real conhe the could bank's no books, he disclosed the dition of affairs.

11. November 6, 1881 New-York Tribune New York, NY
Article from New-York Tribune, November 6, 1881

Click image to open full size in new tab

Article Text

411 000 45. Marchbank, the embezzling clerk, was unable to find bondsmen for $7,500 yesterday and he was allowed by the Commissioner to return to his home in Beileville in the custody or the Marshal, to remain until Monday. Marchbank would say nothing about his case. He admitted that yesterday morning he had had an interview with Baldwin at the latter's house. An apparently authentic statement is made that Baldwin discovered that Marchbank wasa defaulter when $30,000 had been abstracted. He called the clerk into a private room and confronted him with the evidence of his guilt. Marchbank fell upon his knees and besought Baldwin not to expose him, promising to make good the amount stolen. Baldwin yielded and Marchbank remained and reimbursed the bank to the amount of about $8,000. Some time afterward it was discovered that he was a defaulter in $20,000 more, when he was dismissed by Baldwin. John H. Emery, counsel for the bank, states that he has not known of the existence of any mortgages on Nugent's property held by Baldwin and recently assigned to President Halsey and Director Condict -the one for $20,000 and the other for $15,000. He was first apprised of the existence of such mortgages by the publications in the newspapers. Judge Teese made the remark yesterday that if his client, Nugent, went to the State Prison on conviction of aiding Baldwin he will have the company of a distinguished and virtuous set of pals." He thought that the judgment of people was setting in in Nagent's favor. Mr. Teese made this calculation : It is charged that Nugent's business absorbed $2,400,000 in eight years. There are just 2,400 working days in that period of time. It follows, therefore, that if Baldwin's story is true Nugent's business was conducted at a daily loss of $1,000 during eight years. This," remarked Judge Teese, simply preposterous." The following telegram has been received by Oscar L. Baldwin and was handed by him to a friend who visited him. The latter asked permission to retain it and exhibit it to his acquaintances: KALAMAZOO, Mich., Nov. 2. OSCAR L. BALDWIN, Newark, N.J.: Our admiration is intense. Would like to engage you for ten lectures, $100 a night, to tell what you know KALAMAZOO BOARD OF TRADE. about banking. The question of the responsibility of the directors, in view of all the facts thas far brought out in connection with the bank failure, is being seriously discussed by depositors and their lawyers. One of the latter said significantly yesterday to a reporter: This thing has only just begun; the depositors haven't had their say yet, and there are people who hold the stock of the bank who will not famely surrender double its value. I have a trust fund to look after that I propose to protect." One of the counsel of Nugent remarked that perhaps to-day would bring out a new and interesting phase of the situation. Commissioner Keasbey stated yesterday that the District-Attorney and counsel for the bank were proceeding in view of acquiring the property of Nugent. The matter had been brought into the Court of Chancery, and there would be no judgments or write just now. The counsel for Nugent, after being informed of the claim of the bank upon the property, had engaged to hold the property intact until the matter at issue could be legally shaped. At the meeting of the Newark Common Council, Friday evening. H. F. Fiedler, Mayor of the city, sent in a communication stating that information of a disquieting character had for some time been in his possession regarding the accounts and finances of the city, and that this, coupled with the fact that the accounts of the city officers had not, for many years. been subjected to expert examination, and with the additional fact that the crash of the Mechanies' Bank had ruined fortunes and shattered reputations. he was moved to recommend the Finance Committee of the Common Council to make a searching and thorough examination, with the aid of experts, of the condition of the city finances. The communication was referred to the Finance Committee, with power to act. The National Shoe and Leather Bank of this city began yesterday an action in the Supreme Court against the Mechanics' National Bank of Newark to recover $31,000. Justice Barrett granted an order for the service of the summons and complaint by publication.

12. November 8, 1881 The Daily Gazette Wilmington, DE
Article from The Daily Gazette, November 8, 1881

Click image to open full size in new tab

Article Text

GENERAL NEWS. 1 The President has issued a procla1 mation designating Thursday Novem ber 24th, as a day of National Thanksgiving. First Assistant Postmaster General Hatton has returned to Washington. He will act as Postmaster General during the absence of the latter. Fifteenth thousand immigrants are reported to have arrived in Manitoba this year. The first fast train to the West by the New York Central and Lake Shere route, yesterday morning, made the run from New York to Albany, 150 miles, in 3 hours 20 minutes. By a collision between two train, near Astoria, Illinois, on Sunday morning, an engine and several cars were wrecked and two passenger were killed. The steamer Larington, of London, is ashore near Shuthwest Point, An. ticosti Island, and will probably pecome a total wreck. Her crew were saved. Hanson & Van Winkle, whole. sale dealers in chemicals, of Newark failed yesterday, in consequence of the Mechaics' National Banktailure The U.S. Court at Newark, yes terday, ordered a rule to shew cause why a receiver should not be appointed for Nugent's factory; and the Court also appointed C. N. Miller provisional receiver, in the meantime. Cashier Baldwin, of the Mechanics' Bank, was released last evening, in $100,000 bail, to appear next Monday for examination. His bondsmen are his three brothers and six other parties. The default ing clerk, Marchbank, was bailed in $1,000, to appear on the 15th inst. The loss by the dock fire a Hoboken, on Sunday evening, is now estimated ar $1,250,000. Two mer are supposed to have perished by falling off the wharf during the fire The opera house at Joplin, Missouri was burned on Saturday night. Loss $50,000. The Hulmeville Manu facturing Company's cotton mil at Hulmeville, Bucks country, Pa. was destroyed by fire last evening Loss, $25,000.

13. November 12, 1881 The Milan Exchange Milan, TN
Article from The Milan Exchange, November 12, 1881

Click image to open full size in new tab

Article Text

COMMERCE AND INDUSTRY. THE annual report of United States Treasurer Gilfillan shows an increase in receipts over the previous year as follows: Customs, $11,637,611; internal revenue, $11,255,110; sales of public lands, $1,185,356; miscellaneous sources, $3,177,702; increase in surplus revenue, $34,185,751. THE Wabash will put on a limited express between St. Louis and New York, time 33 hours and 40 minutes. INVESTIGATION into the affairs of the Mechanics National Bank of Newark, N. J., SO hopelessly wrecked by Cashier Baldwin, discloses the fact that some two years ago Henry P. Marchbank, at that time engaged as corresponding clerk of the bank, got away with $50,000 of its funds, which has never been recovered. Marchbank was retired, but the matter was not made public, it is supposed on account of the clerk's too intimate knowledge of the Cashier's own and much more extensive defalcation. Marchbanks has now been arrested. He is a man of some property, and like Baldwin, has heretofore been esteemed as an estimable and upright citizen. BOTH houses of the Minnesota Legislature have passed the bill for the readjustment of the old bonded debt of the State, at an interest not to exceed 5 per cent. THE bank of Walker & Co., at Zurich, Switzerland, is reported to have been robbed of 75,000 francs and all negotiable securities and its books burned. The bank has suspended. Unpleasant surmises regarding the affair are current. THE cotton statistics for the present season show a falling off in the receipts at every Southern port, except New Orleans, from last year, the decrease in some cases being considerable. The estimates of the total crop made by members of the New York Cotton Exchange vary from 5,165,000 to 6,500,000 bales. Bradstreet's reports would indicate the smaller estimate as being the nearer correct. THE attendance at the Atlanta Cotton Exposition continues to increase each week, and the success of the exhibition is now assured.

14. December 4, 1881 New-York Tribune New York, NY
Article from New-York Tribune, December 4, 1881

Click image to open full size in new tab

Article Text

# TRIPLE SHEET. # THE NEWS THIS MORNING, FOREIGN.-The London cable dispatch to THE TRIBUNE says that the Conservatives are turning the perplexities of the Government in Ireland to account; Lord Randolph Churchill has denounced the Land Courts. Mr. Evelyn Ashley has disproved the charge that he is a bad landlord. The demands made by the Scotch farmers at their meeting are moderate. Mr. Lowell is in Paris on his way to London. The robbery of the body of the late Earl of Crawford and Balcarres, which has just been discovered, took place last May. Prince Bismarck's recent statement that Italy has advanced toward Republicanism causes a sensation at Vienna. Austria has suspended diplomatic relations with the Roumanian Cabinet because the King claimed further control over the navigation of the Danube. An international skating contest is to be held at Vienna on January 14-16. DOMESTIC.-Emory A. Storrs and Senator David Davis were among the witnesses examine yesterday in the Guiteau trial; it is thought that the expert testimony will be offered to-morrow; President Arthur is to be called as a witness by the defence. General J. W. Keifer, of Ohio, was nominated Speaker, and Edward McPherson Clerk of the House, by the Republican caucus; the Democrats nominated S. J. Randall Speaker, and the present incumbents for the other offices. Walker Blaine and William H. Prescott sailed as envoys of the United States to Chili and Peru. A bank in Cleveland, Ohio, was robbed of $117,000 in bonds. Seven persons have escaped from the jail at Las Vegas, N. M. Andrew Carnegie has offered a free library to Pittsburg under certain conditions, Two men were killed by a road accident near Thompson, Conn., yesterday. Navigation is being closed on the Delaware and Hudson Canal, the last boat having left Honesdale, Penn. CITY AND SUBURBAN.-The Lotos Club gave a complimentary dinner to Whitelaw Reid last night. Sailors who matinied on the bark Sontagg were handed over to the United States authorities. Mrs. Ellen Peck, a notorious confidence woman, was again arrested. Measures have been taken to revive the Mechanics' National Bank of Newark. A thief was shot by a policeman. There were three business failures. Gold value of the legal-tender silver dollar (412½ grains), 86.90 cents. Stocks were dull and generally lower, closing steady. # THE WEATHER. THE WEATHER.-TRIBUNE local observations indicate generally cloudy weather, with light rain or snow and slight changes in temperature. Thermometer yesterday: Highest, 42°; lowest, 35°; average, 3878°.

15. December 7, 1881 Evening Star Washington, DC
Article from Evening Star, December 7, 1881

Click image to open full size in new tab

Article Text

THE WAY THE NEWARK BANK WILL RESUME.The project of restoring the Mechanics' national bank is the result of conferences of the ten directors, who have had a paper drawn to the contents of which they have agreed, binding them to contribute over their names towards paying the creditors of the bank and reviving the institution. The exact total is not made public, but it is about $1,000,000, the president, Joseph A. Halsey, contributing $250,000. The directors will announce their publicly willingness to pay creditors a percentage on thefr dues larger than could be hoped for from the receiver. If the creditors accept the amount offered, the sums will be paid in immediately, and a full receipt taken. The bank will then resume under the old name, though it will practically be a new institution, all of the assets being swallowed up in the dues of its creditors.

16. January 4, 1882 Wheeling Register Wheeling, WV
Article from Wheeling Register, January 4, 1882

Click image to open full size in new tab

Article Text

# BLAINE SUCCESSOR. The return o ex-Senator Frelinghuyson to publicafe at Washington, as secretary of stateis an event looked forward to withraternal pleasure by the older senatorand with interest by all. He was a avorite nephew of Theodore Frelinguysen, who ran for vice president onte ticket with Henry Clay in 1844, as wi as a grandson of Frederick Frelinhuysen, who at 22 years of age was member of the continental congress The statesmanship of any descendantf the Frelinghuysens can not, thereforbe regarded as an accidental possesen, Ex-Senator Fringhuysen married the daughter of George Griswold, of New York city, wealthy merchant who was largely gaged in the East India trade. She stately lady, rather reticent than comunicative, but a graceful conversennd as well calculated to adorn the sal side of the state department as anne who has filled that arduous post honor since her intimate personalind, Mrs. Hamilton Fish, and probablnot inferior to the latter, which is high praise. The Frelinghuysens ha six children, three sons and three dahters. The oldest scn. Frederick, islawyer in Newark, and waslately appated by Comptroller Knox receiver of Mechanics' National bank of Newk, whose misfortunes made a recemataclysm in that city. Another sonGeorge Griswold, recently married thiaughter of Peter Ballantyne, the weny brewer of Newark, and one of the ughters is the wife of Mr. John Davis, nephew of Judge Bancroft Davis, of court of claims, who, it is said, wil become first assistant secretary of se, vice Hitt, and thus create a vacanewhich shall restore Secretary Hunof the navy, to his old honors on that somnolent bench. Mr. Frelinghuyse is a pleasant speaker, and a man lose appearance, language, and demear bear out the faet that he came of ace of gentlemen. He is tall and augusin stature, and dresses in black broadbth, with standing shirt-collar, and hu silk hat. He is a member of the Soety of the Cincinnati, a stalwart in politics but of conservative tastes al habits, with great veneration for established mstitutions, and pious fegard for is honorable ancestry, of whor, in adition to those mentioned, Donnie Felinghuysen was famous among th pre-Revolutionary clergymen of Nv Jersey for his religious zeal arl good orks. Mr. Frelinghuysen raintain to this day the old Frelinghusen hnestead, farm and buildings, at Mstown, Somerset county, N. J, as thy were in his boyhood, and evry yeaspends three months at least there, forst and rural enjoyment. Whie a setor he bought at Washington, and stilretains as owner, the house No 1,731 street, where Senator Cameron lived uil his own house was finished. It is woe-cupied by ex-Gov. Washburn,epresentative from Minnesota. Hex-Senator Frelinghuysen lived, anhere it is surmised he will enterta the guests of the state department. se-lection by President Arthur for pnier is one more guarantee of the dified character and management of thew dispensation, already foreshadow by the president himself, and in tap-pointment of the excellent Judge ger as secretary of the treasury.-Phet. phia Press.

17. February 18, 1882 Daily Republican Wilmington, DE
Article from Daily Republican, February 18, 1882

Click image to open full size in new tab

Article Text

NEWS SUMMARY. # Deeds of Violence-Grand Firemen's Tournament - Seventeen Railroads to be Prosecuted-Railroad Accident. The case of Fitz John Porter was again considered by the Cabinet yesterday, but no conclusion was reached. It is said that "theonly legal way to afford the desired redress in this case is for President to pardon General Porter thus removing his presents disqualifications from holding office in the service of the United States, and then restore him to his former place in the army by nomination to the Senate." The secretary of Interaal Affairs, at Harrisburg, has placed a list of seventeen railoard companies doing business in Pennsylvania in the hands of the Attorney General, requesting him to proceed against them for their failurel to make an annual report to the Auditor General within thirty days after the expiration of their fioancial year. The penalty for each failure is $5000. The ice in the Hudson river at Albany broke yesterday and gorged below, causing a flood along the wharves, which did considerable damage to merchanlise stored there in the cellars near by. The damage at Greenbash was greater than at Albany. Archibald Johnson, wife and children and a farmer, named Murphy, attempted, on Thursday night, to cros Buczhan Lake, near Lakefield, Ontario in a sleigh on the ice. The night being dark, thes mistook open water for clear ice and drove into it, but only Murphy was drowned. C. S. Coone, Jr., General Ticket Agent for the Onio and Mississippi Railroad, was killed on that railroad yesterday near North Vernon, Kentucky. He put his head out the window and it was struck by a bridge. A telegram from San Francisco reports the destruction of the house of Charles L. Johnson at Coffey's Cove on the Russian River, by a landslide last week. Mrs. Johnson, her infant and a man employed in the house, were killed. A veam of cannelcoal, five feet thick, has been discovered in Murion county, Iowa, thirty aniles from Des Moines. A vein of common bituminous coal, six feet thick.lies sixty feet beneath the cannel. Martin F. Conway, a member of the Thirty-seventh Congress, from Kansas, died in the Government Hospital for the Insane at Washington, last Wednesday, in the fifty-third year of his age. S. N. Snow, publisher of the Evening News, New Bedford, having been detected in a number of forgeries, attempted suicide at Narragansett on Thursday night. His father paid the forged notes. It is stated that the President has received the resignation of Mr. Hyman, Surveyor of Customs at New Orleans, and will, on Monday, nominate Pinchback for the position. Samuel Marsden, colored, aged 11 years, placed a can of coal oil on a stove in Dallas, Texas, mistaking it for a coffee pot. The house was wrecked and the boy killed. The Senate of Massachusetts yesterday passed resolutions expressing abhorrence of polygamy, and urging the passage in Congress of the Anti-Polygamy bill. By a collision between a freight train and a switch engine at Toledo, Ohio, yesterday, two engines were wrecked and Charles Clark, engineer was fatally injured. The receiver of the Mechanics National Bank of Newark announces a second dividend of 20 per cent, making 45 per cent, in less than four months. An eight-foot seam of bituminous coal has been discovered at a depth of eighteen feet, in sinking a well, near Victoria, British Columbia. The boiler of the Georgia Car Works, at Cartervilir, Georgia, burst yesterday morning, killing six men and injuring several others, one of them fatally. W. W. Ezra was kicked to death by a mume in Caroll county, Georgia, ong Thursday.

18. March 15, 1882 The Evening Critic Washington, DC
Article from The Evening Critic, March 15, 1882

Click image to open full size in new tab

Article Text

News Notes. Queen Victoria has telegraphed to Archbishop McClure, of Dublin, her thanks for his recent pastoral letter in favor of law and order. A dispatch from Panama says that the reports of the disaster caused by an earthquake at Costa Rica have been greatly exaggerated. The status of the strike of railroad laborers at Omaha has not changed since Monday. The non-strikers continue working, with the troops guarding them. A claim of $2,000,000 has been filed against Nugent & Co., of Newwark, N. J., by Mr. Frelinghuysen, receiver of the broken Mechanics' National Bank. Rev. Dr. Burton, of Hartford, Conn., and Rev. Dr. Perrin, of Torrington, have been elected by the clerical representatives of Yale College as successors to Drs. Bacon and Arms. Charles H. Foster, for the past few years a leading editorial writer on the Philadelphia Record, died yesterday morning of pneumonia, after an illness of less than a week's duration. The situation at the iron works at Homestead, Pa., has again become critical. A non-union man was badly beaten yesterday and two policemen shot, though not fatally wounded. A reduction of wages in the spinning department of the Pacific Mills, at Lawrence, Mass., was posted yesterday, and 120 women and girls quit work. It is feared that the mule-spinners will follow their example. The striking laborers at the Union Rolling Mfils, in Chicago, are negotiating with the company for a compromise under which they will return to work. A consolidation of all the trades unions in Chicago into one general organization is being effected. A boat with three sailors arrived at Empire City, Oregon, on Monday. The men said they left the Australian bark Bulwark twenty-eight days out from Yokohama. The officers and eighteen of the crew were left on board. The vessel was in a sinking condition and has probably been lost. The county commissioners of Lancaster County, Pa., have offered a reward of $500 for the arrest of James Shaw, who murdered his wife on March 7, near Bartville, in that county. He is supposed to be in Philadelphia or Baltimore, and will probably try to escape to Ireland. An inquest was held in New York yesterday in the case of George W. Wall, who was shot by his wife, at New Utrecht, L. I., who died at the Presbyterian Hospital, in New York. Mrs. Wall is under arrest, but the testimony taken by the Coroner showed that the shooting was accidental, and the jury so declared in their verdict. At the annual meeting of the stockholders of the St. Louis & San Francisco Railroad, held in St. Louis yesterday, the number of directors was increased from six to thirteen. The directors elected were C. P. Huntington, Jay Gould, Russell Sage, J. E. Seligman, Eiward F. Winslow, A. H. Hatch, James O. Fish, William F. Buckley, A. W. Nickerson, C. W. Rodgers, W. L. Trask and R. S. Hays. A man was found struggling in the water in front of one of the Philadelphia wharves on Monday night and was rescued by a passing steamer. He gave his name as Charles Leishner, and said that he was a stranger and asked a man to direct him to Tenth and Market streets. The stranger conducted him to the wharf, robbed him of $83 and knocked him into the water.

19. March 18, 1882 Huntsville Gazette Huntsville, AL
Article from Huntsville Gazette, March 18, 1882

Click image to open full size in new tab

Article Text

AND PERSONAL GENERAL. of the Executive Committee of the have the completed Tennessee H. R. ciety THE of arrangements which Army to for be held in St. in clerk Bank, National the three past Louis annual on reunion, May CORNWALL, 10 and 11. a trusted New York months, City, but has He was bank saw has the Fourth been at stealing last been for when found the out. discovery that he had was been detected "embezzlesome $80,000. He made, his post and in the as Confessed he as he Cornwall the prominent is married of member Church for and and ment" has of a large a Methodist family. several Episcopal years SuperinMein Brooklyn, of Suna a school. director of the N. J., tendent H. CONDICT, Bank, of Newark, brought by chanics' S. National arrested on a civil bail suit being fixed had has been Frelinghuysen, that the Condict bank and and Receiver The charge he situation of directors. knowledge it from bank after his that he sonally concealed $250,000. of to the the the other and knowledge informa- perthat the loss was such tion. was acquired profited by concealing a S. and FAY, RICHAR prominent suicide committe Bostonian, a with revolver, on while wealthy out Boston brains his Tennessee, his health. the benefit by the blowing board South steamer for the was stabbed of but recovered late the almost trip years ago he Mass., effects of in AfSome Dr. Ayer, entirely of Lowell, from the South natives rica other. ALFRED wound. THE Boers and laughtering each Pa., recently Mary O'Conner, and the other night have been BELL, of Erie, aged 15. They he the street. Overwh married happy, out into ended herexby istence were turned his grief of and Jeff, not swallowing child-wife with a two dose she Indians, arsenic. who last, December 10. MARCUS John Hendry Park, in Cal., March at Guihas the murdered hanged at MASON, Lake who shot dishonorably were SERGEANT been sentenced army to and be imprisoned teau, discharged from hard labor. inbeen AGENT the Secretary Indian for eight YORMSTRONG at of has the children un- Interior to der his care Montana, in send the one structed by at hundred the Crow Ohio, agency, to be educated certain farmers fulness. day, to and reared up to N. Y., the dismantled other collapsed, by the AT Bolivar, building was structure Kische three-story and the whole Frederick not live. burying wind, four men. Brad Phelps card miners lost their inreported last were Colliery, IN October dead. several others two (Pa.) seriously properly lives and Mahanoy City not being that disunder jured account at of a The gangway Mine Inspector the mining of superin- laws as tendent, timbered. brought suit Gilgore, the inside safety of the case The a in resulted against trict George responsible for was given verdict to mercy. side working. March 11, and mendation D. to Willis, of jury of guilty, on with daughter of horrible fate the A LITTLE Mo., met a near the track the Atchison, While playing a little boy, flames. with her twin suddenly assistance to her other child's East day. clothingcreamed sister and for burst near, into rushed and in children who was could remove were The William but he his hands to child the rescue; doing which was [burned from crisp. locomotive badly clothing, It is the set that fire a spark to the girl's employee in of passing clothing. WM. the Cleveland KARAMPE, while (0.) manipulating a Rolling Prussian institution, Mill the Company, electric March CleveStates, 10. and said to electric be light. was light killed machinery This is the first of that fatal the second accident in the United of Transit land, with the the Northern the Grand tried IN the case of Michigan Company against of Canada, Court at MilTrunk Company Rai way States Circuit the jury returned $111, in the United Wis., March in 11, the sum of made 166.66. endants. A by defer Louis waukee, verdict for motion plaintiff for new trial Company was Distilling no with war THE $100, St. 000 by declares fire, March that 13 Russia for wants delivthe from erance Ge machinations lost THE Golos and prays of the Chauvinists. W. from 12th eight of the A says DISPATCH that up to the the explosion namely: Va., had resulted her Sidney, from near Ravenswood, Faulkner, Mills and Mrs. steamer.Sid Little and grandson, Ohio; of Frank Charleston, from W. child, of Bellaire, Mr. Kain, deck-hand injured, of Pittsburghens, and others a were some thousand to Middleport, Va.; Mrs. of them o. dangerously Ten of Omaha Square, Jefferson THREE in procession indulged in reins denunciation of govother day, for handing In the evening and the marched Mayor and military. the brickbatting. the of ernment the to the subjected to to charge, in which troops were by a bayonet Armstrong was in the retaliated machinist stabbed named that G.P. he soon expired severely Sonora Railway, Guaymas, projected on with the three Gulf the THE ago to run to from a connection purchased by the It & at years California, has been Fe Company. of be will give Missouri to $3,000,000 from the of will American Atchison, completed Topeka lines, and this Santa year, the Santa a cost Fe the coast. waters through of the Pacific H. WRIGHT. who died in

20. April 14, 1882 New-York Tribune New York, NY
Article from New-York Tribune, April 14, 1882

Click image to open full size in new tab

Article Text

TWO EFFORTS TO HANG HIMSELF. Michael Evans, proprietor of a restaurant at No. 1,414 Third-ave., appeared in the Harlem Police Court yesterday as complainant against Thomas Lee, a sailor living in a sailors' boarding-house at No. 386 Water-st., whom he charged with creating a disturbance in his place and with breaking a plateglass window, valued at $500. Justice Murray held Lee in $600 bail to keep the peace for one year, in default of which he was committed. Lee was taken to the prison and locked up to await the arrival of the prison van. Shortly afterward Keeper Glynn heard labored breathing in his cell, and hurrying to it found that Lee had suspended himself from the cell door with his shirt, which he had twisted in the form of a rope. He was cut down and with much difficulty was brought to his senses, when he was again contined in his cell. Entering the prison shortly after, Keeper Glynn found that Lee had managed to raise his head about a foot from the floor and had tied a strong piece of twine around his neck, which he had then fastened to the bars, and he was endeavoring to strangle himselt. He was again rescued. When he had recovered his senses he begged for some weapon with which to take his life, saying he was tired of living. An ambulance was telegraphed for to the Ninety-ninth Street Hospital, where he will be held for some time, as he is apparently suffering from some mental trouble. MR. CONDICT TO PAY HIS SUBSCRIPTION. When the directors proposed to revive the Mechanics' National Bank of Newark, President Halsey and Director Stephen H. Condict each agreed to contribute $250,000. The total subscription was about $700,000, The plan was to pay in full all deposits of $200 and under, and to pay all other depositors, except corporations, 75 per cent. The corporations were to receive about 58 per cent. The plan was not accepted by all the depositors and stockholders, and then Director Condict refused to pay his subscription, his excuse being that it would leave him penniless. A civil suit was brought against him and he gave bail in $250,000. He also gave $50,000 bail in a similar suit. Last evening it was announced that he would pay his $250,000 subscription. Director William Clark, who himself has to pay $75,000, having advanced him 15,000 on bonds and mortgages, and the Essex County National Bank and wealthy friends $125,000 more, also on good securities. The bank will be revived as soon as possible.

21. April 15, 1882 New-York Tribune New York, NY
Article from New-York Tribune, April 15, 1882

Click image to open full size in new tab

Article Text

EFFECT OF MR. CONDICT'S SUBSCRIPTION. The announcement yesterday that Stephen H. Condict, the accused director of the Mechanics' National Bank, had greed to pay $250,000 toward the fund raised by the directors in partial liquidation of the claims against the bank has caused considerable talk in Newark. The proposition to the creditors has been revived in its original form and the bank will be reopened. The money which has been subscribed for the payment of the bank's debts will be placed in the hands of George A. Halsey as trustee III a few days. The conditions upon which Condict's subscription was renewed are not disclosed. District-Attorney Keasbey 18 in Washington and it is not known that be has been made aware of the new turn affairs have taken. Nor is it known precisely what the receiver will do. it is optional with him to press the civil suit or to accept Condiet's proffered payment. It is believed that he will elect to accept the arrangement of the directors. Meanwhile the papers in the criminal suit have been made out and are in the hands of the District Attorney to be forwarded to Trenton for the United States Grand Jury, which meets on Tuesday.

22. June 18, 1882 New-York Tribune New York, NY
Article from New-York Tribune, June 18, 1882

Click image to open full size in new tab

Article Text

REESTABLISHMENT OF A NEWARK BANK. Arrangements are well advanced for the reestablishment of the Mechanics' National Bank, which suspended on October 31 in consequence of the dishonesty of Oscar L. Baldwid, its cashier. The payment of the creditors of the bank, according to a plan by which the directors subscribed $750,000 to pay the bulk of the indebtedness, has proceeded satisfactorily. Nearly all the creditors have received their checks from the fund subscribed. The plan contemplated the reestablishment of the bank. The following men are already announced as directors: George A. Halsey, William Clark, Marshall C. Lefferts, Frederick Frelinghuysen, Henry C. Howell, Stephen J. Meeker, Huzo Franzell, E. D. Gaddis, James F. Boud, Bernard M. Shanley and John T. Leverich. It is expected that George A. Halsey will be president and James F. Bond vicepresident. Both of these men were connected with the old directory of the bank. All the directors represent import: nt interests. The capital of the new bank will be $300,000, and next Tuesday the subscription books will be opened. Blocks of the stock have already been taken and many of the men who had their money with the old bank have promised their deposits. The committee of the directors are negotiating with the receiver for the purchase of the old building, the price named being $65,000. The name of the new bank has not yet been decided upon.

23. October 27, 1883 Sacramento Daily Record-Union Sacramento, CA
Article from Sacramento Daily Record-Union, October 27, 1883

Click image to open full size in new tab

Article Text

BROKEN BANKS. - Chancellor Runyan has rendered a decision in the suit of Ackerman against Halsey and others. Ackerman, a stockholder of the defunct Mechanics' National Bank, of Newark, sued Pres. ident Halsey and the Directors of that institution for losses incurred through the neglect and mismanagement, by which it became possible for Cashier Oscar L. Baldwin to steal $250,000 of the bank's money. The receiver of the broken bank refused to institute suit against the Directors, and Ackerman thereon brought it individually. The defense demurred, claiming none but the receiver could sue in such a way. The Chancellor's decision overrules the demurrer and holds that the bank officials were liable personally for the failure through neglect to perform their duties properly, and that when the receiver refuses to bring suit against them any stockholder may do 30.-[Philadelphia Call.