12704. Passaic County Savings Institution (Paterson, NJ)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
savings bank
Start Date
July 18, 1877
Location
Paterson, New Jersey (40.917, -74.172)

Metadata

Model
gpt-5-mini
Short Digest
d2bf664165891ae2

Response Measures

None

Description

Multiple articles report a small run on July 18–19, 1877 tied to rumors and recent local failures; later (Dec 26–31, 1877) the bank announced it would close and requested depositors draw funds on Jan 5 — a voluntary winding up/closure due to losses and bad loans. No reopening is reported. OCR variants of 'Passaic'/'Passaic County Savings Bank/Institution' and 'Paterson'/'Patterson' corrected to Passaic County Savings Institution, Paterson, NJ.

Events (3)
1. July 18, 1877 Run
Cause
Local Banks
Cause Details
Run triggered by rumors and by recent failures in Paterson (Paterson Fire Insurance Co. and Merchants' Trust & Loan Co.), causing small depositors to withdraw about $3,000.
Measures
Officers paid claims throughout the day; had ample provisions and support offered by local national banks to advance funds against securities.
Newspaper Excerpt
The failure of the Insurance Company...caused a run upon the Paterson Savings Institution yesterday...A slight run was made also upon the Passaic County Savings Institution, about $3,000 being withdrawn in small sums.
Source
newspapers
2. December 26, 1877 Suspension
Cause
Voluntary Liquidation
Cause Details
Directors decided to close the bank and liquidate operations due to capital loss from unsecured/ worthless loans (ex-president and director loans, Midland Railway notes, etc.); notice given to depositors to draw funds on Jan 5.
Newspaper Excerpt
The Passaic County Savings Bank is to close up. The depositors will be notified to-morrow to draw their money on January 5.
Source
newspapers
3. December 31, 1877 Other
Newspaper Excerpt
The bank is simply going out of business...The business will close on the afternoon of December 31...The directors have published a notice that the depositors can obtain their money on and after January 5, with interest to January 1, at the rate of 5 per cent. No deposits will be received. ...The officers state the bank has the money in its vaults to pay off all claims of the depositors. The only persons who will lose by the closing up of its affairs will be the stockholders. The deficiency is stated to be less than $15,000. (New York Herald / Tribune reports).
Source
newspapers

Newspaper Articles (20)
1. July 19, 1877 New-York Tribune New York, NY
Article from New-York Tribune, July 19, 1877

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RESULTS OF THE PATERSON SUSPENSION. A RUN ON THE SAVINGS BANKS. Vice-Chancellor Van Vleit of New-Jersey, yesterday appointed James Jackson, Cashier of the Second National Bank of Paterson, Receiver of the Paterson Fire Insurance Company. The Receiver will give bonds in $300,000. The total available resources of the company will not exceed $180,000, while the liabilities are about $190,000, including the capital. Nearly the whole of the stock IS held in Paterson, in amounts ranging from $200 to $12,000. Experts estimate that it will take about $100,000 to pay the claims of the policy-holders, while the unpaid losses amount to about $92,000. Receiver Jackson will at once take charge of the office. The failure of the Insurance Company, added to the suspension of the Merchants' Trust and Loan Company last week, caused a run upon the Paterson Savings Institution yesterday. This Bank is said to be one of the staunchest savings institutions in New-Jersey, its deposits aggregating $790,000. It was incorporated in 1869. The run was caused by rumors affecting its soundness, which were caused probably by the fact that some of its Managers were also Directors in the Paterson Fire Insurance Company and the Merchant's Loan and Trust Company. The run was made by the mill operatives and other small depositors, those having large sums on deposit not participating. During the day several hundred of the depositors gathered about the banking house and a large force of clerks was kept busy all day paying the claims as fast as they were presented. At four o'clock in the afternoon, the usual closing hour, about $37,000 had been withdrawn. The officers have made ample provisions for a protracted run. No notice is required of depositors. The bank has at least $500,000 in available funds. Heavy runs were made upon this Bank in 1872 and 1873, but all demands were promptly mei, and the money was re-deposited during the next ten days. The capital is $100,000, but each stock-holder is responsible for double the amount of stock that he holds. The National Banks of Paterson have offered to advance all the money needed upon the bonds and Government securities held by the Institution until tue run ceases. A slight run was made also upon the Passaic County Savings Institution, about $3,000 being withdrawn in small sums. The following letter in relation to the failure of the Insurance Company was received yesterday: To the Editor of The Tribune. SIR: In your paper of this date I notice an article headed 'The Patters II Fire's Heavy Losses," in which is a statement that reflects injuriously upon me, which reads as follows: "The agent of the Middle Department of New-York State, D. R. Satterlee, is behind about $8,000, which we has received as premiums, and which amount stands charged to nin on the books of the Company." This statement is untrue. My department does not include the State of New-York, but embraces the States of Pennsylvania, Ohio, Indiana and Kentucky. I have in my hands DO premiums collected for the Company; but the amount alluded to is in the hands of agents under me, who haver not yet paid it into my hands. Please make the correction and oblige D. R. SATTERLEE. Yours truly, New. York, July 18, 1877

2. July 19, 1877 Public Ledger Memphis, TN
Article from Public Ledger, July 19, 1877

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Runs on Banks, NEW YORK, July 19.-A run on the Paterson (N. J.) Savings Bank yesterday also caused a run upon the Passaic County Savings Institution in Paterson.

3. July 19, 1877 The Rock Island Argus Rock Island, IL
Article from The Rock Island Argus, July 19, 1877

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Run on the Banks at Paterson N. J. NEW YORK, July 19.-There was a run on the Patterson, N. J., Savings bank yesterday, which also caused a run upon the Passaic county Savings institution in Patterson.

4. July 19, 1877 The Daily Gazette Wilmington, DE
Article from The Daily Gazette, July 19, 1877

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THERE was a run on the Patterson, N. J., savings banks yesterday, caused by the recent failures. Forty thousand dollars were drawn from the Patterson Savings Bank and $3,000 from the Passaic County Savings Bank.

5. July 19, 1877 The New York Herald New York, NY
Article from The New York Herald, July 19, 1877

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RUN ON PATERSON BANKS. PATERSON, N. J., July 18, 1877. Tuere was a run on the Paterson savings banks to. day caused by the recent failures. Forty thousand dollars were drawn from the Paterson Savings Bank and $3,000 from the Passaic County Savings Bank.

6. July 20, 1877 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, July 20, 1877

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Financial Troubles-Runs on the Banks. I NEW YORK, July 19.-There was a run on the Patterson, N. J., Savings Bank ( yesteaday, also on the Passaic County ) Savings Bank in Patterson.

7. July 20, 1877 The Wheeling Daily Register Wheeling, WV
Article from The Wheeling Daily Register, July 20, 1877

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Run on Banks NEW YORK, July 19 -There was & run on the Patterson, N. J., Savings Bank yesterday; also on the Passaic county Savings Bank, of Patterson.

8. July 24, 1877 The Sedalia Weekly Bazoo Sedalia, MO
Article from The Sedalia Weekly Bazoo, July 24, 1877

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News Items by Telegraph and Otherwise. -The railroad strike is subsiding. -The Turks are pulling back before the Russians. -The situation in the last is very discouraging to the Ottoman. -Road agents continue to plunder stage coaches in the Black Hills. -The Northern Indians; in Montana, continue to threaten the settlements. -The run upon upon the Savings Banks, of Chicago, has shown no signs of abating. -The Canadian anthorities have notified Sitting Bull that he must leave the country. -Turkish commanders in Bulgaria are accused of betraying their country to the enemy. -The hostile Chief Joseph pretended to sue for peace in order to get time to continue his retreat. -Governor Hartranft, of Pennaylvania, with a party of excursionists is on a trip to the mountains. -The White citizens of the Northwest, complain that all their troubles are brought about by Indian Agents. -The run on the Paterson, (N.J.) Savings Bank yesterday also called a run upon Passaic County Savings Institute in Paterson. -The house of David Graves at Brandywine Springs, Del., was robbed Friday night of $11,000 in United States bonds, $100 in cash and valuable jewelry. -The textile manufacturers of America held a slimey attended meeting in Chicago yesterday. They passed resolutions and did business of interest to the trade. -At a meeting of the Board of Managers of the Produce Exchange in New York Friday, it was decided to withdraw from the National Board of Trade and not send a delegation to its meeting. -J. P. Wehrheim, of the firm of Wehrheim & Bros., 111 Frederick Avenue, of Baltimore was instantly killed by the explosion of a gas machine, which, with a lighted candle, he was examining for a leak. -Henry M. Hoyt, Chairman of the Republican State Committe of Pennsylvania, has issued an order postponing the Republican State Convention, called to meet at Harrisburg, August 39, until September 5th. -The shoe manufactory and dwelling house of T. A. Coolidge, West Marlboro, was burned Friday night. Loss on buildings and stock $100,000. Insurance $75,000 Over two hundred hands are thrown out of employment. -The Montgomery County Republicans met in convention at Dayton. Ohio, yesterday, and elected delegates to the State Convention at Cleveland, August 1. They adopted a resolution endorsing the pacification policy of President Hayes and in favor of the silver dollar. --A San Francisco dispatch says a fire Friday night destroyed several thousand feet of the snow sheds on the Central Pacific railroad, near Emigrant Gap and Dutch Flat, delaying trains and stopping telegraphic communication for some hours.

9. July 25, 1877 Ottumwa Weekly Courier Ottumwa, IA
Article from Ottumwa Weekly Courier, July 25, 1877

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Run on Banks. NEW YORK, July 19.-Runs on the Patterson Saving Bank, yesterday, also caused a run on the Passaic County Savings Institution in Patterson.

10. December 27, 1877 The Daily Gazette Wilmington, DE
Article from The Daily Gazette, December 27, 1877

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YESTERDAY'S BANK FAILURE. PATERSON, December 26.-The Passaic County Savings Bank is to close up. The depositors will be notified to-morrow to draw their money on January 5. The concern is a stock company, with $150, 000 capital, $15,000 paid up. The deposits amount to $120,000, having been run down to the extent of $100,000 within a year. Ex-Mayor Watson, while president of the bank, borrowed $9,000 from it on worthless securities and failed soon afterwards. Edwin R. Mason, a leading director, also borrowed $16,000 from the bank, mostly unsecured, and failed last spring. New Jersey Midland Railway bonds and notes to the amount of $11,000 are among the assets. The capital is all gone and $15,000 more. The directors promise to secure the depositors against loss.

11. December 27, 1877 The Dallas Daily Herald Dallas, TX
Article from The Dallas Daily Herald, December 27, 1877

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One Hundred and Thirty-five Thou sand Dollars Short. PATTERSON, N. J., December 26.Passoe County Savings bank is to close up. The depositors will be notified to-morrow to draw their money on January fifth. The concern is a stock company with $150,000 capital, $150,000 paid up. The deposits amount to $120,000, having run down to the extent of a $100,000 within a year. ExMayor Watson, while president of the board, borrowed $9,000 from it on worthless securities and failed soon afterwards. E. R. Mason, a leading director, also borrowed $16,000 from the bank, mostly unsecured, and failed last spring. The New Jersey Midland railroad bonds and notes to the amount of $11,000 are among the assets. The capital is all gone to $15,000. The directors promise to secure depositors against loss.

12. December 27, 1877 The Cheyenne Daily Leader Cheyenne, WY
Article from The Cheyenne Daily Leader, December 27, 1877

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NEW JERSEY. Another Savings Swindle. Patterson, Dec. 26.-The Passaic County Savings Bank is to close. Depositors will be notified to-morrow to draw their money on January 5th. It is a stock company; stock, $150,000; capital, $15,000, paid up. Deposits, $120,000, run down $60,000 within a year. Ex-Mayor Wm. G. Watson, while president, borrowed $9,000 on worthless securities, and failed soon after. Edwin R. Mason, a leading director, borrowed $16,000, mostly unsecured, and failed last spring; S11,000 in New Jersey Midland railway bonds and notes are among the assets. The capital is all gone and $15,000 more. The directors promise to be prompt to secure depositors against loss.

13. December 27, 1877 The New York Herald New York, NY
Article from The New York Herald, December 27, 1877

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PATERSON FAILURES. THE PASSAIC COUNTY SAVINGS BANK TO CLOSE ITS BUSINESS-NO LOSS TO DEPOSITOESSILK BUSINESS TROUBLE. A notice addressed to the depositors in the Parsaic County Savings Bank will be published in the local papers 10-day asking them to come forward and draw their money in full, with interest. The bank is simply going out of business and has not failed or suspended. The business will close on the afternoon of December 31. Up to that time the business will continue the same as usual, though, at course, no one will care to to deposit after the rumor of closing The directors have during the last few days, in honorably settling up the business, paid up in cash, a fund sufficient to pay all depositors in full. with interest. They are not only able, but anxious that depositors should draw their accounts. The liabilities are about $125,000. There was no run yesterday, although it may be expected that many of the depositors WHO have individually very small amounts will avail themselves to. day of the scare which comes from the rumor and afterward of the request made by the directors. THE DIRECTORS. The names of the directors are:-James Booth, a wealthy silk manufacturer; John Dualop, also a wealthy silk manufacturer; John Shaw, a responsible brewer; John W. Benson, cae treasurer; James Jackson, a financier of good standing; A. B. Woodreff, a lawyer; John C. Van Dervoort, a ary goods merchant; Peter Doremus, a grocer; James McNab, a brass man-i

14. December 28, 1877 New-York Tribune New York, NY
Article from New-York Tribune, December 28, 1877

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BUSINESS REVERSES. TROUBLES OF BANKS AND FIRMS. DETAILS OF THE SUSPENSION OF NETTER & CO.FINANCIAL DIFFICULTIES IN NEW-JERSEY-A RUN ON A BOSTON SAVINGS BANK. The liabilities of Netter & Co., the New-York firm which suspended Wednesday, are now estimated at $300,000. James Keene is believed to be the largest loser. The depositors in the Passaic County Savings Bank. in Paterson, N. J., which will be closed, are to be paid in full, with 5 per cent interest. The Dale Silk Manufacturing Company, in Paterson, it is expected, will continue business under new management. There is a run on a large savings bank in Boston.

15. December 28, 1877 New-York Tribune New York, NY
Article from New-York Tribune, December 28, 1877

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PATERSON'S CLOSING SAVINGS BANK. DEPOSITORS TO BE PAID IN FULL. The winding up of the Passaic County Savings Bank at Paterson. N.J., has not caused any great excitement. Yesterday a notice was posted upon the doors of the institution denying the statement that the bank had failed or suspended," and stating that it was able to pay all depositors in full. The directors have published a notice that the depositors can obtain their money on making application at the bank on and after January 5, with interest to January 1, at the rate of 5 per cent. No deposits will be received. or interest allowed after that date. Yesterday about $18,000 was drawn out by depositors, leaving the amount due on deposits about $98,000. The bank has the money in its vauits, the officers state, to pay off all claims of the depositors. The only persons who will loss by the closing up of its affairs will be the stockholders The deficiency is stated to be less than $15,000. This deficiency was caused by the failure of the New-Jersey Midland Railway Company and the Watson Manufacturing Company, of Paterson, the bank holding notes of thetwo CODcerns. and also by the failure of Edwin R. Mason. of Paterson. A portion of the bonds given by Mr. Mason to secure the loan made to him are upon the real estate owned by the Madison Park Land Impro rement Company, near Paterson. These bonds, although not available at present, are held at their face value. The stockholders agreed to advance the money necessary to cover the deficiency, so that the claims could be paid at once. The officers of the bank and the directors are all well-known and responsible persons. The president, James Booth, stated yesterday that the present management was not responsible for the losses upon the loans made to the New-Jersey Midland Railway Company, the Watson Manufacturing Company and Edwin R. Mason, they having been made several years ago. A few depositors of the Paterson Savings Institution drew their money yesterday, all demands being promptly paid.

16. December 29, 1877 The Democratic Advocate Westminster, MD
Article from The Democratic Advocate, December 29, 1877

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Financial Disasters. The Dale Manufacturing Company, of Paterson, N. J., who own the largest silk mill in that city, will go into liquidation, owing to the depreciation in prices of silk goods. Their liabilities are stated at between $300,000 and $400,000, all secured except $20,000. Tolle, Holton & Co., of Cincinnati, filed & petition in bankruptcy Monday. Liabilities, $382,000; assets $189,000. Mr. Baker, the suspended banker of Chester, Pa., states his liabilities at $159,000 and his assets at $192,000. The assets consis chiefly of real estate, and with judicious mant agement all claims can be paid. The Taunton Savings Bank, of Taunton, Mass., has been enjoined by the Bank Commissioners from doing any further business. The bank owes $1,353,768, and its assets are stated at $1,404,513. Its weakness is owing to depreciation of loans on mortgages, but the depositors will probably be ultimately paid in full The Passaie County Savings Bank, at Paterson, N. J., has closed up and depositors are to be paid January 5th. It is a stock concern, with $150,000 capital, only $15,000 of which is paid up. The deposits amount to $120,000. Among the assets are worthless notes of a former President, a leading director and New Jersey Midland Railroad bonds and notes. Messrs. Netter & Co., brokers and bankers, of New York, suspended payment Wednesday, with very large liabilities. The firm did a very large business, and the outstanding loans may have run up into the millions. N. W. Ader, dry goods dealer: S.J. Tay. lor, grocer; E. Finley, carriage builder, all of Bainbridge, Putnam county, Ind., have failed. The liabilities aggregate $30,000, and the assets $8,700.

17. January 3, 1878 The Eaton Democrat Eaton, OH
Article from The Eaton Democrat, January 3, 1878

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General THE Union League Club of New York City gave President Hayes an elegant reception on the night of December 21. Willis Rutan, residing near Shelby, Ohio, suicided, Saturday, by shooting. Five Mexican horse-thieves were lynched at Bakersfield, California, Friday. Henry Pinchbeck, architect and builder, of Manéhester, England, has failed. Liabilities, $540,000. The trial of Abe Rothschild, for the murder of Diamond Bessie, at Jefferson, Texas, has been postponed till April. President Hayes on Saturday took part in the formal opening of the new American Museum of Natural History, in New York. In consequence of the proposed reduction of wages after the holidays, one thousand iron-workers at Seffield, England, have struck. Reed Mallory, a brakeman on the Lakeshore road, lost his life at Osceola, recently, by falling from a car, and the train passing over him. The three Greenebaums, David, Elias and Henry, bankers, Chicago and New York, are all in bankruptcy. Elias, of Chicago, filed his petition Saturday. Liabilities $30,000; assets $75,000. The crisped remains of Philip Herzberger, the engineer of the New York candy factory, which burned on Thursday evening, were found on Saturday. No additional bodies have been recovered, although about twenty are still missing. The famous mare Flora Temple, known for many years as the Queen of the Turf, died at the farm of A. Welch, at Chestnut Hill, near Philadelphia, a few days since, aged thirty-two years. Tha last time Flora Temple appeared in public was when General Grant reviewed the trotters at Dubois track, Harlem Lane, New York. For the last six years Flora has been gradually wasting away, and was kindly treated to a boxstall and every comfort. Hundreds of the families of those who go down to the sea in ships will have abundant reason for sad memories of the closing months of 1877. The majority of the vessels lost were European, but the fate of the Huron gives our country a place among the mariners. Our latest dispatches record the wreck of the Dutch steamer Friesland, with great loss of life. A copy of the following document has been furnished by the Departmento1 State, on application of the Director of the Phila delphia Mint: DEPARTMENT OF STATE, May 1, 1806. 'Robert Patterson, Esq., Director of Mint: 'SIR-In consequence of the representathe JO Bank the JO Director 8 more the United States that considerable purchases have been made of dollars coined at the mint for the purpose of exporting them, pus prechases probbble SI # SU pus exportations will be made, the President directs that all silver to be coined at the mint shall be of small denominations, 80 that the value of the largest piece shall not exceed half dollar. "orp Ima JAMES MADISON." In Granger County, Tennessee, a few days since, two desperadoes, James and William Leger, attacked Pierce and Gabriel Lee, father and son, without provocation. Several shots were fired by the Legers, one of which wounded GabrielL whereupon the elder Lee fired at William Leger, killing him instantly. James then made his escape. The next day he was shot by an officer while resisting arrest. A few nights ago negro entered the store Fanatte Holdama, Fast 18 Denton, T JO County, Kentucky, and called for a pound bankel 8 stooped Denton "" washing JO to serve his supposed customer, when the negro struck him on the head with an ax, inflicting a fatal wound. Excitement ran high, and the negro was caught and hung place. that JO citizens JO qom c &q A brutal murder was committed in Indianapolis, a few nights since, and one devoid of palliating circumstances. A more coldblooded, business-like affair is seldom witnessed. William Greenley (colored) for some weeks has been courting Mrs. Ida Kersey, a grass-widow, although married himself. Some days ago she began showing preference for a shinier negro, and this so incensed Greenley that upon meeting her in the open street, he drew his revolver. She turned as he fired, and the bullet entered her spine, causing death within fifteen minutes. Two hours afterward Greenley was arrested while quietly walking along the street, and was taken to jail. Tole, Holton & Co., of Cincinnati, wholesale dry goods merchants, have sought the relief of the United States insolvent courts. Liabilities, $382,855.20; assets, $222,475, with $92,000 worth of discounted paper. An accident occurred recently, in Cincinnati, at Miller's stone-yard, near the O. and M. Elevator, resulting in the death of Richard Delaber, night watchman of the elevator. Hehad gone down to the place to make arrangements for a brief absence from his duties, and while on the elevator on which cars are drawn to the stone-yard, lost his balance, and falling On the track was run over by one of the cars. His right leg and arm were cut off, and the whole body fearfully mutilated. Soon after he was placed in an ambulance and taken to the City Hospital, but he died before reaching there. The deceased was a single man. The wife of Jared Martin, residing in Jackson, Ohio, committed suicide by cut. ting her throat. She leaves three small children. Press Hawkins was killed by Geo. Rutler, in a fight at Ayers' Mills, Brown County, Ohio, recently. Rutler fled, and as last accounts had not been capsuied. The Passaic County Savings Bank at Paterson, N. J., has closed. Depositors were notified to draw their money on January 5. It stock company, of $150,000 capital; $15,000 paid up, The deposits are $120,000, but have run down to $100,000 within a year. Ex-Mayor William G. Wat son, while President, borrowed $9,000 on worthless securities, and failed soon after Edwin R. Mason, leading Director, borrowed $16,000, mostly unsecured, and failed last spring. $11,000 in New Jersey Midland Railway bonds and notes are among the assets. The capital is all gone, and $15,000 more. The Directors promise to secure depositors against loss. Between one and two o'clock in the morning Charles Ryberg, a wiper in the shop the Indianapolis and St. Louis Railroad, East St. Louis, attempted to murder his wife while she was lying in bed asleep. struck her four heavy blows on the head with a potato-masher, rendering her insensible. Thinking his wife dead he shot himse justback of the right temple with

18. January 4, 1878 The Emporia News Emporia, KS
Article from The Emporia News, January 4, 1878

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SUSPENDED.-Dec. 26th, the banking firm of Netter & Co., New York, with heavy liabilities, also the Passaic county Savings bank, Patterson, New Jersey. On the 28th West Bosten Savings bank. Also the People's Savings bank, N. Y., with deposits of $200,000. On the 28th the Real Estate savings bank of St. Louis, suspended. Liabilities $247,000 Also the Derry savings bank, Manchester, New Hampshire. Also the Jersey City savings bank, N.J. Also, December 29th, Brooks' bank, Lawville, N. H. Dec. 31st a run began on the Rochester, N. Y., savinge bank, but it stood. Bonner & Co's. banking house, New York, suspended. Also, the Bankers' and Brokers' association. Also, J. F. Jackson, broker. Bonner owes some $500,000. He lent money to parties on cash collaterals, such as bonds, and then sold the bonds, or borrowed larger amounts on them than he had lent. andin this way did an immense business, at other people's expens e. Bonner is a genuine "financeir."

19. January 5, 1878 American Citizen Canton, MS
Article from American Citizen, January 5, 1878

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of The Passaic County Savings Bank, e Paterson, N.J., has gone into liquidation. by unThe bank's capital has all been lost oblisecured loans, and the directors are amountgated to pay the depositors in full, ing to about $100,000. Netter & Co., of New York, heavy the operators in gold and stocks, failed on 26th for a large amount. The wife and daughter of James the of Rondout, N. Y., perished night in of flames Brophy, of a burning building on the the 25th. James Boyd, foreman of MacIntosh, was Hemphill & Co.'s foundry, Pittsburg, upon the 26th by a crane falling Counkilled him. on He was a member of the City cil. Mr. C. C. Dibble and wife, of Hous- of Texas, were drowned on the evening Cherry ton, 26th, while attempting to cross was the on the Brazos. Mr. Dibble niece well Creek known citizen, and his wife was a of Mayor Wilson of Houston. William Muir, Ferdinand Hertog and M. Hayes, all three doing New business York, brokers, Joel have been arrested in bonds of with negotiating forged and of St.Louis,City of Quincy, Pacific Railroad. They are Missouri the charged City believed III., most be the principals in the largest, of bond to and best organized gang counterfeiters powerful ever formed in this country, have extheir operations are thought to States. and tended throughout nearly all the been The matter of ferreting them out has and it is way for nearly six months, will believed under the entire number concerned be ultimately captured. It is believed that ten persons lost & lives by the burning of Greenfield New Sons' their candy factory, Barclay Street, York City, on the 20th ult. Joseph O'Neill, a well known engithe and Alton Railroad,was at neer killed by an unknown the shot on and Chicago hour assassin on Bloomington, Ill., at an early morning of the 27th, as he was on He his way was home from the railway station. about 35 years old and unmarried. A shocking double tragedy was enactat Farmville, Prince Edward County, ed on the 27th. Col. William Randolph Berkeley, Va., a well known citizen and lawyer, with seated in his office in conversation knock was friend, Mr. Alfred Moth, when a arose a heard at the door. Col. Berkeley immeand was opened the door, when he was ball endiately shot down dead by a pistol was his temple. His assassin known tering Col. Wm. H. Kennedy, another well inside the The latter then stepped over,the dead body and,placing the to the office,passing dered citizen. man, pistol of the his own of murhead, blew out his braihs. The cause but it murder and suicide was not known, was reported that Kennedy had on previous life. occasions attempted to take Berkeley's generBoth were men so widely known and affair respected, that the news of the throughally caused a most profound sensation out the whole State. The French Government has requested Don Carlos to leave France, and he has complied with the request. The Paris Moniteur announces that has renounced all commercial treaties right with Japan foreign nations, and resumed its to levy customs duties at pleasure. In Brooklyn, N. Y., on the 26th, Charles E. Johnson went to the residence and of wife's father, Mr. R. S. Benedict, previasked his to see his wife, who a few days is said, ously had left her home on account, The it wife, of her husband's ill treatment. came with her young babe in her arms, husdown to the parlor, when the band demanded his child. the The wife refusing to surrender the babe, hus- wife pulled out a revolver and shot his the band she was endeavoring to escape shoulder from as the ball entering her right wound and room, passing out at the breast. The fatal. a serious one, but not necessarily being was babe narrowly escaped had a been married struck The by the bullet. The year, parties and only both members of wealthy and respecta- by are families, the wife being a relative by ble of the Rev. H. W. Beecher, marriage they were married. The would-be murderer whom was locked up, his wife making intent to charge against him of assault with kill. He is only about 20 years of age. John Pryde was found murdered near the Town Creek, Lawrence County, Ala., on He was a brother of Detective Pryde, and 24th. Memphis, who accidentally shot preof killed his wife and babe a few days viously. Barnesville, Md., on the 27th, Near G. Jamison killed Thomas Warfield in to Lord quarrel. Warfield was paying attention Jamison's sister. The Real Estate Savings Bank of St. Louis suspended on the 29th. Its loans and were the based upon real estate security, latter all depreciation in the value of the It is great given as the cause of the failure. bank is said that none of the Directors owe the to dollar, and that its deposits, amou nting in full. about a $245,000, will ultimately be paid horrible occurrence is reported from A Morgan Township, Crawford County, locked Iowa. Carl Maas and wife, farmers, one, their three children, aged respectively, house and a half and four years, in the two Christmas Day, and went to husk corn. on were shortly after apprized by was a neighbor They of the fact that their house it was burning, and when they reached it burned wrapped in flames and the children crisp. The mother frantically attemptto a to rush into the flames, but was forcibly prevented. ed The foggy morning had prevented them from seeing the fire sooner

20. January 12, 1878 West Virginia Argus Kingwood, WV
Article from West Virginia Argus, January 12, 1878

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Notes unfit for circulation, assorted and delivered to Controller of Currency for destruction and replacement with new notes........ 3,108,400 23,922,200 Notes of failed, liquidating, and reducing banks, deposited in Treasury 729,700 5,773,400 Total for 1877 $17,466,100 $106,754,4 Total for 1876 15,873,700 109,365,600 Increase for month 1,892,400 Decrease for half year 2,611,200 A sub committee of the House Committee on Territories recently heard Col. Briarly in reply to the argument recently made by Delegate Corlett, of Wyoming, against the organization of the new proposed territory of Lincoln. Col. Briarly presented statistics and other information, by which he claimed to demonstrate the Black Hills country is occupied by a large and permanent population of energetic men, and that the mines are proving to be among the most productive in the world; that the people need territorial government to protect them in their rights and property, and especially in view of their isolated condition, the proposed organization is imperatively da. manded. Judge Whitehead, another delegate from the Hills, followed in an argument sustaining the position of his colleague The silver wedding of President and Mrs. Hayes was ce ebrated on the evening of December 31. The preparations for the occasion at the White House were not es pecially elaborate. The handsome Red and Blue Parlors were adorned with most appropriate taste, with flowers from the large hot-houses pertaining to the Mansion, and the air was redolent with odors of fl wers arranged in wreaths, bouquets and pretty symbolic shapes. and about the halls and to and fro the doors" the fragrance bore a festal signification. The party invited in honor of this anniversary were in all essential considerations received en famille, and a major part of the guests were guests at the original wedding twentyfive years ago. Items in General. The Passaic County Savings Bank at Paterson, N. J., has closed. Depositors were notified to draw their money on January 5. It is a stock company, of $150,000 capital; $15,000 paid up. The deposits are $120,000, but have run down to $100,000 within a year. Ex-Mayor William G. Watson, while President, borrowed $9,000 on worthless securities, and failed soon after. Edwin R. Mason, leading Director, borrowed $16,000, mostly unsecured, and failed last spring. $11,000 in New Jersey Midland Railway bonds and notes are among the assets. The capital is all gone, and $15,000 more. The Directors promise to secure depositors against loss Between one and two o'clock in the morning, Charles Ryberg, a wiper in the shop of the Indianapolis and St. Louis Raitroad, East St. Louis, attempted to murder his wife while she was lying in bed asleep. He struck her four heavy blows on the head with a potato-masher, rendering her insensible. Thinking his wife dead he shot himself just back of the right temple with a small Derringer, but this not producing the desired result, he cut two deep gashes across the left wrist, severing the tendons and arteries, from which blood flowed copiously. Soon after, Mrs. Ryberg recovered her senses, and found her husband lying insensible on the floor. By great efforts she aroused the neighbors, A doctor was sent for, and the wounds of both attended to. Neither is supposed to be fatally hurt, but Ryberg is in a critical condition from the great loss of blood. Mrs. Ryberg attributes her husband's act to temporary insanity, caused by sickness last summer. He has had, she says, two or three similar attacks, but in neither of them did he commit any violence Florian Urban, a night watchman at a saw mill, at Evansville, Ind., a Gérman forty-five years old, committed suicide the other morning by hanging himself to the rafters in his room. The New York Evening Post says that the firm of Netter & Co., No. 2 Exchange Place, nas notified the Stock Exchange of its inability to meet its contracts. No failure has occurred in Wall Street for many months that has caused more comment. The firm had been regarded as one of the prominent German houses of the city, It was recently discovered that the Netters were large makers and sellers of puts, calls and straddles. The First National Bank loaned them recently $100,000, and the Third National Bank $75,000, but the officers of both say they held ample security. Judge Dittenhoefer, counsel for the assignee, said the liabilities are between $150,000 and $200,000, and would not exceed the latter sum. It is impossible to name the assets until they have been collected and examined. A receiver has been appointed for the People's Savings Bank of New York. Liabili ties, 200,000; assets, $157,000. TomO'Neal; a well-known locomotive engineer on the Chicago & Alton Railroad, was assaulted a few nights since, at Bloomington, III., while on his way home from the train. His gold watch, pocket-book, and ring were untouched; hence he was not murdered for money. Tracks of a small foot were found in an adjacent alley, which is nearly the only clue yet found Peter Reagan, of Indianapolis, the other night, went to bed without Johanna, his wife. When he got up the next morning, about five o'clock, he saw her body lying on the floor of the privy, with her head thrust through a torn hempen sack suspended from the door, over which it had been thrown. She was dead, the body being cold and stiff. The face was swollen, and a blue mark around the neck showed that strangulation had done its work. Under thechin a darker line revealed the fact that she had first tried to cut her throat before resorting to the noose. According to the testimony of her husband and neighbors, the suicide had been addicted to drink, and for several days had been drinking to excess.