The articles describe a bank that failed shortly after charter (chartered 1856, failed four years later ≈1860). No run is mentioned. Officials were prosecuted and sent to prison for conspiracy, and a receiver was appointed; the institution remained defunct. The 1910 articles report a dividend being paid by the receiver after long litigation. Dates are inferred from text (failure ≈1860).
Events (3)
1.January 1, 1860*Receivership
Newspaper Excerpt
The receiver, Philip Rafferty, was appointed immediately following the insolvency of the institution (receiver later died in 1872).
Source
newspapers
2.January 1, 1860*Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank failed within four years of charter; president Charles Sanford and two officials were convicted and sent to state prison for conspiracy.
Newspaper Excerpt
The bank was chartered in 1856 and failed four years later.
Source
newspapers
3.August 11, 1910Other
Newspaper Excerpt
After waiting fifty years the creditors of the defunct Cataract City Bank here are to receive a first dividend on their claims. The receiver, John L. Griggs, has $3,705 to distribute among the claimants.
Source
newspapers
Newspaper Articles (10)
1.August 11, 1910The Topeka State JournalTopeka, KS
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Article Text
GET FUNDS AFTER FIFTY YEARS. Creditors Receive Dividend on Cataract City Bank. Paterson, N. J., Aug. 11.-After waiting 50 years the creditors of the defunct Cataract City bank here are to receive a first dividend on their claims. The receiver, John L. Griggs, has $3,705, to distribute among the claimants, the money having been obtained after a series of legal battles with the estate of a former receiver who died in 1872. The bank was chartered in 1856 and failed four years later. Its president, Charles Sanford. and two other officials, William P. Sumner and J. M. Beach, were sent to the state prison for conspiracy. Sanford died in prison.
2.August 11, 1910The Ogden StandardOgden, UT
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Article Text
CREDITORS WAITED FIFTY YEARS FOR DIVIDEND. Paterson, N. J., Aug 11.-After waiting fifty years, the creditors of the defunct Cataract City bank here are to receive a first dividend on their claims The receiver, John L. Griggs, has $3,705 to distribute among the claimants, the money having been obtained after a series of legal battles with the estate of a former receiver who died in 1872. The bank was chartered in 1856 and failed four years later. Its president, Charles Sanford, and two other officials, William P. Summer and J. M. Beach, were sent to the state prison for conspiracy. Sanford died in prison.
3.August 12, 1910The Madison Daily LeaderMadison, SD
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Article Text
Wait Fifty Years for Dividend. Paterson, N. J., Aug. 12.-After waiting fifty years the creditors of the defunct Cataract bank are to receive a first dividend on their claims. The receiver, John L. Griggs, has $3,705 to distribute among the claimants, the money having been obtained after a series of legal battles with the estate of a former receiver who died in 1872.
4.August 12, 1910Los Angeles HeraldLos Angeles, CA
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Article Text
DEPOSITORS WILL GET MONEY AFTER 50 YEARS PATERSON, N. J., Aug. 11.-After waiting fifty years the creditors of the defunct Cataract City bank here are to receive a first dividend of their claims. The receiver, John L. Griggs, has $3700 to distribute among the claimants, the money having been obtained after a series of legal battles with the estate of a former receiver, who died in 1872. The bank was chartered in 1856, and failed four years later. Its president, Charles Sanford, and two other officers, William P. Summer and J. M. Beach, were sent to the state prison for conspiracy. Sanford died in prison.
{ Wait Fifty Years for Dividend. Paterson, N. J., Aug. 12.-After waittng fifty years the creditors of the defunct Cataract bank are to receive a first dividend on their claims. The receiver, John L. Griggs, has $3,705 to distribute among the claimants, the money having been obtained after a series of legal battles with the estate of a former receiver who died in 1872.
6.August 14, 1910Tonopah Daily BonanzaTonopah, NV
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Article Text
FIRST DIVIDEND PAID AFTER HALF A CENTURY By Associated Press. PATTERSON, N. J., August 13.After waiting fifty years, the creditors of the defunct Cataract City bank are to receive a first dividend on their claims. The receiver, John L. Griggs, has $3,705 to distribute among the claimants, the money having been obtained after a series of legal battles with the estate of a former receiver who died in 1872.
7.August 18, 1910The Dillon HeraldDillon, SC
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Article Text
Creditors Wait 50 Years. Paterson, N. J., Special.-After waiting 50 years the creditors of the defunct Cataract City bank here are to receive a first dividend on their claims. The receiver, John L. Griggs, has $3,705 to distribute among the claimants, the money having been obtained after a series of legal battles with the estate of a former receiver who died in 1872. The bank was chartered in 1856 and failed four years later.
8.August 19, 1910The Penn's Grove RecordPenns Grove, NJ
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Article Text
To Pay After Fifty Years. After half a century the creditors of the defunct Cataract City bank of Paterson are to get a portion of the money due them by identifying their claims with John L. Griggs, the present receiver. Mr. Griggshas $3,705.90 to disburse among claimants, this amount coming from money collected by Philip Rafferty, the receiver appointed immediately following the insolvency of the institution, and who died in 1872. The claims total approximately $25,000. When Rafferty died it became necessary to sue his estate. The bank was chartered in 1856 and failed four years later. Its president, Charles Sanford, and two other officials, William P. Sumner and J. M. Beach, were sent to the state prison for conspiracy. Sanford died in prison.
9.September 8, 1910The Washburn TimesWashburn, WI
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Article Text
Wait Fifty Years for Money. Paterson, N. J.-After waiting fifty years the creditors of the defunct Cataract City bank are to receive a first dividend on their claims. The receiver, John L. Griggs, has $3,705 to distribute, money obtained through a series of legal battles with the estate of a deceased receiver.
10.September 9, 1910The Charles Mix New EraWagner, SD
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Article Text
Wait 50 Years for Payment. Paterson, N. J.-After waiting fifty years the creditors of the defunct Cataract City bank are to receive a first dividend on their claims. The receiver, John L. Griggs, has $3,705 to a distribute, money obtained through series of legal battles with the estate of a deceased receiver.
