13180. Central Bank (Brooklyn, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
August 3, 1870
Location
Brooklyn, New York (40.660, -73.951)

Metadata

Model
gpt-5-mini
Short Digest
a77b30dee0e3452c

Response Measures

None

Description

Contemporary articles (Aug 1870) report the Central Bank of Brooklyn suspended payment (early August 1870) by injunction; the cashier was appointed receiver. Causes cited repeatedly are bank-specific: speculative real-estate advances and large loans to/for the president, questionable collateral and alleged mismanagement/fraud. Depositors crowded the bank, some drew deposits, and later receivership litigation and suits against directors followed; there is no evidence the bank resumed normal operations—receivers and lawsuits persist in following years—so classify as suspension leading to closure. Dates corrected/standardized from newspaper reports (suspension reported Aug 3, 1870).

Events (1)
1. August 3, 1870 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suspension attributed to speculative real-estate operations and bad loans by the president (H. L. Pruyn), large loans to insiders, and impaired collateral; Marine Bank ceased honoring its notes, cutting off correspondents and hastening suspension.
Newspaper Excerpt
Great excitement existed in Brooklyn yesterday upon the fact becoming known that the Central Bank, No. 345 Fulton-st., had been unable to meet a check for $200, and had suspended payment.
Source
newspapers

Newspaper Articles (22)
1. August 3, 1870 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, August 3, 1870

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TELEGRAPI ITEMS. Collector Selden of the 31 district of Connecticut has been instructed to suspend the collection of all taxes under shipbuilders' sales, under the act of March 31st. By decision of the Treasury authorities at Washington, the whole system of lighterage of merchandise and discharge of vessels arriving at New York belongs to the custom house officials and not to the health officere of the city. Gen. Burnside and family will sail for Eurepe to-day. Edw. L. Burlingame, son of Anson Burlingame, arrived in New York on Tuesday from California and will leave for Paris in a few days. Two hundred Prussians will leave New York for home in a few days to do military duty. Nine thousand dollars in 5-20 bonds of 1867 were obtained in Boston on an altered certified check a few days ago. The Central Bank of Brooklyn, N. Y., suspended on Tuesday. and the cashier was appointed receiver. The cause of the disaster is attributed to speculations by the President. The departure of King William of Prussia for the seat of war was attended with a good deal of dramatic effect, in which the Queen, Bismarek, Moltke and others were conspicuous. Tears, embraces, popular frenzy, cheers, &c., were the leading features of the occasion. The ladies of France are sending large quantities of bedding and hospital furniture to the army. Nine hundred medical students have gone to the front, which is bad for the soldiers. Nine Protestant and three Israelite clergy are among the chaplains. The Emperor keeps one telegraph wire busy with his correspondence with the Empress. Skirmishes are reported to be more frequent at the seat of war, though none of them are significant. The superiority of the needle gun over the chassepot causes deep concern in France, the cable says. Russia indignantly repudiates the design with which she has been charged of taking advantage of the war in Europe to invade tbe Danubian Principalities. A British newspaper estimates that the Prussian force on the frontier now numbers half a million men. The Eoglish coast defences are now being put in condition to resist an attack.

2. August 3, 1870 New-York Tribune New York, NY
Article from New-York Tribune, August 3, 1870

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SUSPENSION OF THE CENTRAL BANK OF BROOKLYN. Great excitement existed in Brooklyn yesterday upon the fact becoming known that the Central Bank, No. 345 Fulton-st., had been unable to meet a check for $200, and had suspended payment. The check was presented by the firm of Cole & Murphy, auctioneers, who had an account of over $12,000 in the bank. Their clerk was informed that the bank could not pay, as there was but 81 in the drawer; that the bank was unable to meet its liabilities, but would probably be able to do 80 in a few days. The clerk, however, noticed that deposits were being received as usual, but no payments made. Mr. John L. Spader, the cashier, states that the liabili_ ties of the bank are large, but that it was unknown whether or not they were greatly in excess of its assets no financial statement having as yet been prepared, though the matter was under the consideration of the directors, who had held a meeting and would take decisive action as to future movements. Mr. Spader states that a short time ago 30 number of the stockholders became dissatisfied with the management of the bank, and applied to the Supreme Court for an injunction to restrain the officers from paying out any more money until the affaire were properly investigated, so that they might see in what condition the institution stood financially. Yesterday morning, in compliance with the motion, an injunction was served upon the officers of the bank, with an order appointing Mr. John L. Spader cashier to receive and settle its affairs. The injunction was obtained by Philip 8. Crooke, who acts by counsel for the stockholders. He says that the bank was thrown out of the Clearing-House yesterday morning. It is alleged that the failure is due to operations in real estate by the President, who is known as the owner of the Post-Office and other extensive buildings in the city, and who is reported to be the principal owner of the capital stock of the institution. The suspension was hastened by the action of the Marine Bank of New-York which notified all other banks that it would cease, on and after the 1st inst., to redeem the notes of the Central. The institution is an old. one, established under a State charter, and transacting business on a capital of $200,000, in 4,000 shares. During the financial panic of 1857 the bank suspended for a few days, and has since transacted a limited business upon a supposed safe basis. The President is Mr. H. L. Pruyn.

3. August 3, 1870 The New York Herald New York, NY
Article from The New York Herald, August 3, 1870

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A FINANCIAL SMASH-UP. Suspension of the Central Bank, Brooklyn. Speculation as to the Cause of Collapse-No Money Paid Out, but Deposits AcceptedHow the Matter Now Stands. There was considerable excitement caused in business circles of Brooklyn yeaterday by the startling announcement that the Central Bank of that city had failed. Inquiry elicited the fact that the bank in question, which is situated at No. 345 Fulton street, had suspended payment in compliance with an injunction of the Supreme Court, granted upon the motion of the counsel for the stockholders, to restrain the officers of the Central Bank from paying out any more money until the financial condition of its affairs could be investigated. For some time past this institution has not borne the best reputation for its management in well-posted banking circles. The bank WAS ESTABLISHED IN 1855 under a State charter. Its capital was $200,000, in 4,000 shares at nity dollars each, par value. In 1857 it suspended payments, duridg the panic. temporarily, but after a few days resumed business again, and has since continued to meet its liabilities. The directors have been careless, it is said, in their supervision of the affairs of the bank, and the consequence was that a lack of confidence was engendered in the minds of those who had an opportunity of knowing the real condition or the bank. TMK PRESIDENT of the Central Bank, Mr. H. L. Pruyn, is an extensive speculator in real estate, who has within the past three or four years erected several costly buildings on Washington street and vicinity. He owns the largest proportion of the capital stock of the institution. The amount of loans and deposits for the quarter ending July 1, was $492,000, and the profits $29,000. This statement was considered sound enough provided the securities proved good. The latter, however, is believed by many, are made up of collaterals involved in the President's real estate transactions. THE ACTION OF THE MARINE BANK of New York recently tent the deathblow to the Cen. trai Institution, by notifying all other banks th at it would no longer continue to honor the checks of the latter bank. Thus the Central was cut off from the banking institutions of the district, and hurrted on to the damaging ultimatum of suspension. It is claimed, notwithstanding, that the depositors accounts can be settled in full. the assets of the bank being ample for that purpose. THE DISCOVERY OF THE DIFFICULTY was made yesterday morning shortly after the opening or the Central Bank, when a depositor who had $12,000 to his credit presented a check for $200. The paying teller candidly* informed the gentleman that there was only one dollar remaining in the drawer, and that he had but just paid over $2,000 to another depositor, which left them short. This was not considered as a satisfactory explanation, and further inquiry elicited the fact that they were unable to meet their liabilities, but would probably be all right again in a few days. MINDING THE MAIN CHANCE. While this conversation was taking place it was remarked that the uninitiated were allowed to make deposits, and that money was being taken as usual, though none was paid out on checks. Mr. John I. Spader, cashier, has been appolated receiver by the court, and, until the settlement of the affairs of the Central Bank, no money can be paid out. AN ANGRY CROWD of depositors were assembled on the sidewalk in front of the unhealthy financial institution in queswere in heads of clais. and emptying tion deep, yesterday The the upon viais afternoon the of devoted their wrath. who language the engaged bank loud oil. in stockholders have determined to take steps to have the affairs of the bank wound up, and thereby meet the liabilities.

4. August 4, 1870 New Orleans Republican New Orleans, LA
Article from New Orleans Republican, August 4, 1870

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NEW YORK. The Suspended Brooklyn Bank-Clue to Nathans' Murderer-Arresting for De. frauding Downings-Governments Dull, but Strong-Southerns Dull and Nominal. NEW YORK, August 3.-The Central Bank of Brooklyn which suspended yesterday has $300,000 deposits. Its assets. are $400,000. President Pruyn has transferred all of his property, $30,000, to the bank, which will exceed his indebtedness to that institution. Mr. Pruyn speculated disastrously in Pacific mail stock. All the evening papers say the detectives have clues which will surely lead to the detection of Mr. Nathans' murderer. Alexander Alberger, brother-in-law to the Haytien Minister, was arrested and bailed to day, on complaint of Downings, well known colored caterers, of defrauding them out of a large sum of money in speculative investments in trade with Hayti. Evening-Money closed easier. Exchange dull. Gold during the forenoon dull and steady, ranging from 121 1/4 @ 121 1/2. During the afternoon stronger at 121% closing at 121 34 @ 121% Governments quiet and steady, closing dull but strong. Sixes of 1881 with coupons, 1131/s; of 1862, 110 3; of 1864, 110; of 1865, 1101/8; new, 108% of 1867, 108% of 1868, 1093; ten-forties, 107. Southern securities dull and heavy during the forenoon; during the afternoon dull and nearly nominal, closing quiet and unchanged.

5. August 4, 1870 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN
Article from Memphis Daily Appeal, August 4, 1870

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BANK FAILURE. Continued Excitement Over the Closing of the Central Bank of Brooklyn. NEW York, August 3.-There is continued excitement relative to the suspension of the Central Bank of Brooklyn, and much indignation expressed by heavy depositors at the Cashier of the bank being appointed Receiver. The neighborhood of the bank was crowded with anxious inquirers, and, as it was understood that all deposits made yesterday would be returned to day, many availed themselves of the chance and drew their money. Among the heaviest depositors are the city and county institutions. The city has in bank $158,436. The county Treasurer had deposited $105,000, which is mostly secured. The Brooklyn water department has a deposit of $23,000. As far as has at present been ascertained, the liabilities will reach $800,000, and perhaps a million, against $200,000 capital and a State deposit of only $5000. As to collaterals, the bank officers refuse to give any information. The President, it is understood, has turned nearly all his real estate, consisting of the Post-office building, Commonwealth hall and lots on Adams street, over to the bank as security.

6. August 4, 1870 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, August 4, 1870

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1 B The Latest News. NEW YORK CITY. Gov. Hoffman Does his Duty by the Murderer Real. NEW YORK, Aug. 3. Gov. Hoffman in a letter to ex-Judge Stuart, sets forth at length his reasons for 8 declining to commute the sentence of John Real, now awaiting execution in the Tombs. The Governor says the case pre1 sents a clear and distinct issue between q law and lawlessness. The law must be vindicated. Tell Real, therefore, that he must die on the day appointed for his execution. A company of six Chinese, including a celestial woman and two children, left this city last night via the Erie railroad; for St. Louis. They have procured employment at that point through the influence of the Five Points House of Industry. There is continued excitement in rela tion to the suspension of the Central Bank of Brooklyn, and much indignation is expressed by the heavy depositors that the cashier was appointed receiver. The neighborhood of the bank is crowded with anxious inquirers, and as it WAS understood that all deposits made yesterday would be returned to-day many availed themselves of the chance and drew their money. Among the heaviest depositors are the city and county institutions. As far as at present ascertained the liabilities will reach eight hundred thousand, and perhaps a million dollars, against $200,000 capital, and a State deposit of only $5,000. As to the collaterals the bank officers retuso to give any information. The President is understood to have turned nearly all his real estate, consisting of the post office building, Commonwealth Hall, and some lots on Adams street, over to the bank as security. A riot occurred at Peekskill last night between the members of the Iron Moulders Union and the non-union men, in which Hornce Brown of the former was killed in self-defence by Roncrick Shee, who was with difficulty saved by the police from being lynched by the mob. The guard about Real's cell was doubled to-day. The prisoner took final leave of his sisters who have faithfully attended him during his entire imprisonment. Twenty-two American yacht's have finally entered for the race for the Queen's cup, including the Dauntless and America.

7. August 4, 1870 The Wheeling Daily Register Wheeling, WV
Article from The Wheeling Daily Register, August 4, 1870

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TELEGRAPHIC SUMMARY Gold closed in New York yesterday at 1218. The New York World asserts tively that Secretary Fish will resign Both parties profess to be North confident Carof success in the election in olina to-day Rockford, Illinois, yesterday, by the Forest At Citys beat the Athletics score of 15 to 10. Bennett Scop was hung at murder Norwalk, yesterday, for the the last. Goodman, Ohio, a pedlar, in October College received a bequest of Vassar Jacob P. Gerard, of Poughdied. keepsie, $32,000 from a wealthy citizen, who recently American vachts for have the Twenty-two entered for the race finally Queen's cup, including the Danatless and the America. the game of base ball at Cleve- Citys, In Ohio, yesterday, the Forest Hayof land, Cleveland scored 16, and 6. the makers, of Troy, New York, The Republican Convention at MonOhio, yesterday, nominated for roeville, Foster, of Seneca county, District. Congress Charles from the Ninth Ohio The Republican Congressional District, Conof the Eighth Illinois Col. vention yesterday in nominating Jonathan succeeded Merriam, of Tazewell county, on the 186th ballot. alias Comstock leaped from 135 feet, into seriThorne elevator. and Buffalo was Creek, an Buffalo, New York, advertised at injured. He was bridge to onsly from the new Suspension jump at Niagara on the 13th inst. At New York, yesterday, the and guard the Real's cell was doubled, about took final leave of his sisters, him prisoner who have faithfully attended during his entire imprisonment. The Democratic Congressional District Conof the Tenth Illinois on vention at Carlinville yesterday, and, Judge met seventh ballot, nominated for the E Y. Rice. of Montgomery county, Congress There is a probability of the arrest man of Mr. Nathan. shirt and New with the murderer bloody stockings from A has traced to Philadelphia diabeeen York. He had also two or three monds in his possession. Secretary Robeson ordered 5000mon the Tuesday, to be engaged at men, on navy vards, and the work of various and remodeling the vessels repairing and those being daily placed out of commission, hand. is ordered to be vigoronly carried on. Archer Craig a well known telegraph bed was found dead in his Memphis, operator, Tenn., yesterday morning The verdict of the coroner's jury brain. from congestion of the Auburn death His remains were forwarded to for interment. company of six Chinese, including children, Celestial A woman and two via left a New York city Tuesday night, They Erie Railroad for St. Louis. have the procured employment at that Points point through the influence the Five House of Industry. riot occurred at Peekskill, N.Y. A night, between members of non-Union Tuesday Moulders' Union and of the Iron in which Horace Brown, men, was killed in self-defense former, Roderick Shea, who was with difficulty lynched saved by the police from being by the mob. Governor Hoffman, of New York, in letter to ex-Judge Stuart, sets forth a his reasons for declining to com- now length the sentence of John Real, Toombs. mute execution in the awaiting Governor says the case presents law The and distinct issue between be clear lawlessness. The law must and vindicated. Tell Real, therefore, his he must die on the day appointed for execution difficulty occurred at Brownsville, Tennessee, A on Monday, between A. Freeman and John H. Brewer, promi- was lawyers of that place. card nent by the publication of a for- by caused latter, reflecting severely on the who is a candidate for Judge mer. Circuit Court. The result was the the of John Brewer in the bowie- arm. and =hooting the other being ent with a knife. The Coroners inquest on the Nathan police will be commenced at Dis headquarters murder in New York to-day. the Attorney Garvin conducts case re triet people. The Philadelphia for the of the probable arrest of the discredi- murport in that city is generally that derer ted. All the evening papers state clue Superintendant Jordon has a ar which will surely lead to a speady It is of the criminal or criminals rest that the watch stolen from ascertained Nathanewas a Perregaux No 5657 instead of a Furgenson No. 7421 previously reported. There is continued excitement in re to the suspension of the Central lation of Brooklyn, and much indignaBank. is expressed by the heavy deposittion because the cashier was appointed of ore The neighborhood receiver bank was crowded yesterday under the anxious inquirers, as it was on with that all the deposits made Many stood would be returned and availed Tuesday themselves of this chance, receiver their money from the the drew Among the heaviest depositore As are far as and county institutions. will ascertained, city the liabilities reach hundred thousand, and perhaps hundred million eight of dollare, against two a State dollars capital, and dollars. thousand of only five thousand officials As deposit to collaterals, the bank The re-

8. August 4, 1870 The Sun New York, NY
Article from The Sun, August 4, 1870

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The Central Bank Suspension. The excitement in relation to the suspension of the Central Bank of Brooklyn continued yester day. The depositors crowded the neighborhood of City Hall square, all eager to hear what was said, and anxious to obtain all the information possible. The bank officers were as reticent as on the day previous, and gave no satisfaction to inquirers They express confidence, however, that every depositor will get his money at an early day.

9. August 4, 1870 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, August 4, 1870

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The Suspended Central Bank. NEW YORK, August 3.-The Central Bank of Brooklyn, which suspended yesterday, had $300,000 of deposits. The assets of the bank are $450,000. Pruyn, the president, has transferred all his property, worth $350,000, to the bank, which will exceed his indebtedness. He speculated disastrously in Pacific_mail stock.

10. August 10, 1870 The White Pine News East Ely, Treasure City, Taylor, Ely, NV
Article from The White Pine News, August 10, 1870

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NEW YORK NEWS. NEW YORK, August 8. A mass of testimony was taken to-day in the Nathan murder case, but fails to throw any light on the mystery or afford any clue to the assassin. President Grant left Long Branch today for St. Louis, going via Harrisburg. The excitement over Prussian victories is intense. The Germans are exultant, and will hold a mass meeting and jollification. Many of them, as well as French, expressed a desire to the Consuls to go home; but their services for the present are declined. The first bale of new Texas cotton received to-day-361/ pounds. A villainons attempt was made last night to throw the train of the Brooklyn, Bath & Coney Island Railroad from the track. It was discovered in season to be prevented. Application will be made by the city of Brooklyn for a new receiver of the Centra! Bank, in place of the United States cashier. The Coroner's jury in the case of Adam Langford, charged with the murder of James Findleton, found a verdict of Justifiable homicide.' Oakley, indicted for embezzlement from Merchants' Exchange Bank, is at last bailed out. Amelia Armstrong, the abortionist, is also bailed. Lady Franklin visits Mrs. Stowe, at Lennox, Mass., and sails, on the 18th. for England. The Queen's Cup was won by the Maggie. Dauntless, second: then Idler, America, Phantom, Sylvin. Cambria, Fleetwing, and Haleyon. Under meas nrement allowance, Idler was second, Sylvia third, America fourth, "Dauntless fifth, Cambria tenth.

11. August 12, 1870 Chicago Tribune Chicago, IL
Article from Chicago Tribune, August 12, 1870

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NEW YORK Special Despatch to The Chicago Tribune. GOLD. New YORK, Aug. n.-There was 2 check to the decline in gold to-day, and a reaction set in. The market opened $116 declined to 115% railled and advanced to 117M, and closed Y per cent. er. The rates paid for carrying were from 1 to 4 per cent to nat. The rise this afternoon was at tributed to private foreign despatches reporting that the position of affairs was better for the French, and that there was a strong probability that Austria and Itair would come to the aid ot France. A better reason, probably, is the gruwing belief that the war cannot be ended in a few weeks, even If the Prussians best the French at Metz. GOVERNMENTS The relative firmLess of our bonds in Europe is a matter of especial gratification in monetary circlea here. In the face of the panic in the European money markets,ou bonds have steadily recovered from the decline produced by the first shock of the war news It will be noticed that only a small amount of the bonds come back to us. Notwithstanding the shipment of over $20, 000,000 in specie to Europe within the past four weeks, it is certain we have received back not more than $7,000,000 or $8,000,000 worth of the $1,200,000,000 worth of bonds believed to be held abroad. This is satisfactory evidence that they are still considered abroad to be the beat of investments, and It would seem that there is no likelihood of their returning in sufficient numbers to swamp us until the belligerents LAVE rought themselves to the point of exhaustion The small return of bonds accounts, in a great measure, for the weakness in gold. Boads opened steady to-day, but were lower at the close Among foreign bankers there was a disposition to selt on the despatches which advanced gold. The government bought $2,000,000 of 5-205 offered tocay an 109 90-100 to 0370-100. MONEY was easy at 3 to 4 per cent on governments and 4 to 5 per cent on stock callaterals STOCKS. The stock market was still induenced by the reports of a treaty of peace at Saratoga between the railroad monarchs, and prices advanced. In the afternoon, however, the market heavier and declined on sales to realize. Pacide Mall was noticeably weak EXCHANGE. Foreign Exchange was dall, but somewhat armer. London prime bankers' sixty dars was quoted $109.6 to and sight to 110% THE PRODUCE MARKET snowed a further depression in breadstoffs and provisions, but leading in the first case to more activity. [To the Associated Press.) THE NATHAN MURDER CASE n NEW YORK. Aug. 11.- The evidence of William in Kelly, the housekeeper's son. In the Nathan in e quest to-da failed to furntsb grennd for suspiciou of his guilt. lle admitted its eulistment in c Lawrence, Mass, under an assumed name, in e 1564, and that since lits discharge from the army 11665, be bad been without regular employment. to and in contradiction of previous testimony, stated that be had a conversation with two men on Martison square, the evening before the murder. Other testimony offered, proves that the dog with which the murder was committed, was seen about the Nathan premises over a year ago. The three colored wen arrested on suspicion of DAVIDE possession of the late Mr. Nathan 's watch were to-lay discharged, but another man 15 now :held to custody ou suspicion of having disposed of in some of the missing Natban jewelry on the day be the murder. KAILKOAD CHARGES. a No immediate advance in railway freights a and passenger tartifs is expected, in conS: sequence of the cessation o hostilities ben tween the rival lines westward, A large S. number of Eastern coupon tickets, from Bos. ton to Chicago, and between Boston and 1d New York, the coupons having been used, are now be on sale the principal offices. The practice reduces the Boston fare from $5 to $9.25, PIREMEN INJURED Seven firemen of Truck Cn. No. 1 were seriously to injured, while running to a are in East Broadway. le this morning nTHE QUABANTINE TROUBLES to The quarantine boat Andrew Fletcher, with a crew of twenty-five or thirty armed men. under n. command of Health Officer Carnochan, cut out us the bark Wavelet from Brooklyn wharf early this morning. and took her HOWD the bay. The Captain, wife, and children were detained on w. board, and the owners of the vetsel, Preudergast Brothers & Co., do not know where on to And her. The Wavelet arrived last week from he Rio Janeiro with a clean bill of health, and having he discharged her cargu of coffee at Perth Amboy 1st and fumigated the vessel came up to Brooklyn vesterday with a clean bill of health from the Perth Amboy officials. FORGER ADMITTED TO BATT. & red Louis M. Van Ecter, the alleged forger on Fisk Af. Hatch, on whose trial the jury fately disagreed was to-day scharged on ball. no. THE BROOKLYN BANK FAILURE the The Central Rank of Brooklyu will fully indem a nily depositors without assessment upon the stock like holders MANDAMES TRATED FOIL ry The Brookirn Fire Commissioners ank a mands mus to compel Mayor Kalbdelsch to sign warrant for $20,000 for expenses of the tire department of GENERAL V'CLELLAN on begins active duties as Chief Engineer of the De 165 partment of Docks to-morrow. FRENCH TAPER ON NAPOLEON UL The Courrier des Etats Unie, ever the warm sup potter of Napoleon, to-day speaks of him as de clining, and too feeble to hold the aword. do not know 11 says, anybody where there is o' question of the salvation, honor, or grandeur France. Let the power be trusted to whomsoeve he shall take It, and In whatever form It mar. be 1 esmonarchy or republic, but let them give us vic tory. SUBER AND BOGS DROWNED. A portion of the Communipaw abattoir gar on. WAY and sunk into the river to-day. Three met were injured, and 200 sheep and twenty-five hug drowned. the FRENCH RELIEF FUND The Executive Committee of the French Al Ju. Association forwarded $10,000 to France, on Sat unday. for the relief of wounded Boldters. tituKILLED BY THE FALL A BUILDING. FarPart of building No. 21 Lawrence street, unde going repairs, fell to-night, burying negro, Sam ties uel Reston. He was rescued, but fatally ing

12. August 27, 1870 The New York Herald New York, NY
Article from The New York Herald, August 27, 1870

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THE PERIL OF WEALTH. The Brooklyn Central Bank Failure-Meeting of the Depositors-A Committee of Investigation Appointed-A Suit Against the Bank. Yesterday the depositors of the Brooklyn Central Bank, which collapsed a short time since, met in Dole & Murphy's auction room. There were a large number present. Mr. Cole on being called to the chair made a few remarks, stating that at the last pmeeting he was satisfied that there was some hopes of the depositors getting their money back, but now the case did not look so well, and he thought a new receiver should be appointed. Mr. Voorhees moved that a committea of three be appointed to confer with Mr. Spader and report. Mr. Cole said that would take time, and too much time had been lost already. The meeting had been put off two days later than It should have been. Mr. Havens moved that a committee of three be appointed to investigate, with power to employ )counsel If necessary. He said there was a misunderstanding somewhere about whether an amount of $160,000 which appeared on the books of the bank was to be considered as a deposit or whether t was a loan. Mr. Spader had made different state. ments about it, and If it could be shown satisfacto. rily that 16 was a loan it would be 80 much better for the depositors. Mr. Spader had told halt a dozen different stories about the matter. and the thought the meeting ought to have it cleared up. Mr. Place objected to legal proceedings. It would be time enough to take legal steps when absolutely necessary. It would be dimiuum for any committee to get information from Mr. Spader or any one. Depositors were running to Mr. Spader day after day, meeking an explanation, and it was not wonderful that he should be out of sorts sometimes. He thought the best way was to send the committee to ascertain from Mr. Spader or any one In the bank, and from an examination of the books, what was the true position of affairs. Mr. Kane had no confidence in Mr. Spader. nor in John K. Pruyn. The money that the depositors had entrusted to their care had been applied by them to their personal use. He wanted a new receiver, and |thought that legal proceedings should be taken. The counsel of the bank would work for the Interest of the bank and the stockholders; but he wanted someone to look after the interests of he depositors. He had about $1,800 in the bank, and ue wanted his interests protected. Mr. Place moved as an amendment to investigate land ascertain the condition of the anairs of the bank and to report at an adjourned meeting. Mr. Havens wanted to know how large a sum the |meeting represented. He thought, too, that the committee ought to have the right to employ coun. mel. It was not to investigate, but to prevent any loss of time. They wanted to take the butt by the morna and have the tinng satisfactorily settied. If there was to be no employment of counsel there had betrer be no committee at all. Mr. Place would not submit to the action of any counsel employed by any other man. Being a lawyer himself he proposed to set for nimself in the matter. It. was claimed that the bank had a right to place securities in the bands of the County TreaBurer for the security of a deposit. They would find some dificulty in the way of getting the facts as to the securities. Mr. Pruyn and transferred to the bank over two hundred thous and dollars' worth of property, much more than the value of his stock. General Crooke, who was sent. was invited to address the meeting. and said that he had been a shareholder in the bank fre Its to nation, but he kept no account there and had nev r been a directhe tor. He had conducted two O. the , suits for bank, but had never been fo mail appointed its counsel, and knew nothing about autairs of the but holder: three bank. His position was as a sto or four depositors had requeste in to act as their representative. As ance the way in which he acted for the bank be said oa the 1st of August he was sent for by Mr. Pre na who was great tribulation, and assisted him in making a transfer or his real estate for the securing of the creditors of the bank. Tats property was worth over two hundred thousand dollars, and was for the benefit of the general creditors and not for the security of Mr. Gardiner, the County Treasurer He had the right, s the real estate was not the property of the bank, and If is (General Crooke's) action in aiding to make the assignment was to be thought a crime, he was will.ing to bear the burden. This was the first thing he had to do with the bank. He acted for his own terests and for the interests of his friends In the bank, which interests happened to be Identical It was only necessary to show. in addition. that the stockholders are liable to the full amount of the stock, and whatever a stockholder can do to subserve his own interests is also for the interests of the depositors. The stockholders will lose their stock and will be liable to be called on for an equal amount for the benefit of the depositors. He could not imagine how he could have acted in any different way for humself that was not for the benefit or the depositors. There was one way in which the bank could have been revived, and that was to get a number of gentlemen or capItal, who believed the real estate was worth more than it was represented to be, to take hold of the bank, assess the stockholders one hundred per cent, get $200,000 live capital in their hands and Mr. Pruyn's real estate, which would pay from seven to ten per cent on its represented value. With this there would have been enough to pay off the small private depositors, the bank could have gone or and out of the real estate enough could have been made to secure the stock. But ne had abandoned this idea when he saw the article in the Eagle yesHe thought the depositors looked upon too much as a matter of veageance. For his own part he looked at it as a matter of dollars and cents. He wanted to secure his stock, and would like to avoid being assessed. All that he had to do with the matter had beensince the 1st of August. It was his belief that, but for the obstacles thrown in the way by depositors. the parries interested in the plan he proposed would have carried it out by the 1st of September, and the small depositors would have been paid. He had every reason to suppose that the bank would have been resuscitated with a cash capital paid in. After some further discussion a committee was appointed to look into the affairs of the bank and report at the next meeting, to be held on the 2d of September. The meeting then adjourned. ACTION AGAINST THE RECEIVER. In the Supreme Court yesterday an application was made by William L. Eastburn, que of the depositors. for an order requ ring the receiver to return forthwith to him $240, the amount of his deposit in the bank. Counsel for the receiver contended that the Court had no power to direct how the assets should be disposed of by the receiver, while counsel for the applicant argued that the statute gave the Court the whole control of the mat. ter. Judge Pratt reserved his decision.

13. September 30, 1870 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN
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Suit for $120,000. NEW YORK, September 29.-The Brooklyn Water Commission have begun suits against the directors and receivers of the lately suspended Central bank for the recovery of their deposits, over $120,000. The complaint alleges deception and fraud by the bank officers in publishing sworn statements in April and October which are known to be false.

14. September 30, 1870 The Evening Telegraph Philadelphia, PA
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Domestic Affairs. -Gold closed yesterday at 113¾. -The political campaign in Missouri is quite active. -Yellow fever has just appeared in Galveston, Texas. -Richmond, Va., is having more municipal troubles. -The Ticket Agents' Annual Convention is now being held in Chicago. -Twenty-two persons died from yellow fever in New Orleans on Wednesday. -President Grant has been invited to visit California by a number of prominent Californians. -Regent Serrano has ordered the execution of the Spanish Emancipation law in Cuba and Porto Rico. -The labor reform folks of the Sixth Massachusetts district have nominated General Banks for Congress. -The English Lutheran Synod of Eastern Pennsylvania is now in session at Harrisburg. -Thomas P. Conner, a Mississippi legislator, was shot and killed in a difficulty in Wenona yesterday. -A large number of the Government clerks are going home from Washington to vote at the October election. -Some damage has occurred in the neighborhood of Staunton, Va., owing to a heavy flood west of the Blue Ridge. -Minister Washburne is shut up in Paris, and our State Department has received nothing from him since the 17th instant. -The Department of State has been notified that two American travellers are supposed to have lost their lives on Mont Blanc during the early part of this month. -Suits have been commenced against the Directors of the suspended Central Bank of Brooklyn, for the recovery of certain public deposits. Deception and fraud are charged against the officers. -Elizabeth McGlynn, a young woman employed as a weaver in the Reading Cotton Mills, while cleaning a loom that was in motion, yesterday, got her hair entangled in the machinery and was completely scalped. -From Greenwood and Lynchburg, Va., come reports of a rain storm so heavy as to interrupt all travel. A train was last night weatherbound in the mountains. The railroads have suffered much damage, and loss of life is apprehended.

15. October 29, 1870 The Sun New York, NY
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BROOKLYN. Mrs. Montgomery, of Remsen, near Ewen street, yesterday gave birth to triplets. George Butcher. a painter, yesterday fell from the FOOL 01 48 CONCOIN killed. The Mayor now favors the lighting of the streets by moonlight during November and December The books and papers of the Central Bank are now in possession of U. 8. Marshal Dalton, who will hold them until a receiver is appointed. A confidence man visited the boarding bouse of Milton Holmes, 190 South Fourth street, K. D., yesterday, and leit with several suits of the boarders' clothing. Dan Pfifer, the celebrated trainer and driver. was not so seri usly injured by the accident on the Prospect Park track as was first supposed, and is HOW slowly recovering. Still another explosion occurred in the caisson of the East River bridge yesterday afternoon. James Mc. Gonigal. a laborer. of 25 Dean street. was preparing a blast, when the charge exploded prematurely, and he was very badly hurt about the head and body. An advertisement in yesterday's Herald announced the death of Peter Green, Deputy Comptroller but 11 was merely the weak invention of an enemy. Peter Bull lives. and yesterday received the congratulations of a host of friends. who hastened to his house not ex. pecting to see him among the living.

16. March 4, 1871 The Charleston Daily News Charleston, SC
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$240,811 $365,778 $9,062,266 The business of four years but a little exceeded nine millions, while the expense of doing that business-not counting in as "expense" the sums paid for losses, dividends to polley.holde and stockholders. and for surrendered policies-was for the four years but little less than two-thirds of the total income. At the time of the forced suspension of the company by the insurance department, the officers had no idea of its real condition, and were both astonished and a little indignant withal at being informed that the office was insolvent. They were gentlemen of unimpeachable private character, probably lacking in energy, and certainly possessing neither a knowledge of. nor an aptitude for, the business they had attempted to conduct. The Farmers' and Mechanics' can hardly be called a company at all. It was originally, in 1868, the "Manhattan Co-operative Reller Association," but in that form its advertising bills were collected with great dificulty. In September, 1869, its projector succeeded in obtaining a capital stock of $125,000, and the Farmers' and Mechanics' was announced. Last summer it amalgamated with the "Peabody"-a company which had barely effected a legal organizationand early in the present year it was suspended is legal process. The management which, without doing any business worth naming, e hausted the entire stock capital within fourteen months, need not be commented upon. What is the reasonable inference from these cases, and from the unquestionable fact that several other concerns will eventually be compelled to retire from business? Is it that life insurance is rotten and hollow-that it is a grand "contidence game" which will sooner or later be revealed as such-that "the beginning of the end" is at hand? Not very long ago an unfinished building intended for a piano factory blew over, with a fatalresult, in this city; but nobody jumps at the conclusion that buildings generally are unsafe. No bank failure could be more complete or more intelligible than that of the Central Bank of Brooklyn; its president had been using the funds la real estate speculations, and he had lost. Among the "assets" were. such items as these Loan to the president, $250,000, secured by real ate valued at $200,000; unendorsed and protested notes; over-drafts of long standing and plainly worthless; checks drawn two or three years back and returned as not good, &c., amounting in all to several hundred thousands. But the public do not therefore refuse to put conIdence in banks aud do bus ness with them. Life insurance is the simplest and surest business in the world. But It cannot thrive without good management, and the lack of such management was the sole cause of these two failures. The two companies-like many others which have been organized within SIX years past-were wholly uncalled for: they were started because a few gentleinen wanted places, and a few capitalists followed a mistaken Impression that life insurance offered a superior field for profit unai tended with risk. Yet with fair management

17. May 22, 1871 Worcester Daily Spy Worcester, MA
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A boy named Ernest Gost died on Friday at East New York, from having been run over by a horse car the driver of which obliged the boy to jump off while under way, declining to stop when asked. Frederick Trennan, aged thirty-eight, died at Belleville hospital, yesterday, in consequence of having been run over by a car on the Third avenue line, on the 15th inst. He was for some reason kicked off the front platform of the car by the conductor. His hat fell off, and as he stooped to pick it up he fell on the track and the wheel passed over his leg. The car was then driven off and no assistance rendered. The conductor is known and the coroner has ordered his arrest. The eleven jurors drawn in the Foster murder case are living high at the Astor house, guarded by four armed officers of the supreme court. They are permitted to see and converse with their relatives or friends in the presence and within the hearing of an officer, but they are not permitted to go to any part of the hotel unless accompanied. They are permitted to read papers, which they purchase themselves, each sending for such as he desires. Their meals are served in their rooms-breakfast, dinner and supper-but malt and spiritous liquors and wines are strictly prohibited. The county, however, furdishes them with cigars. By order of Judge Cardozo the Israelites were permitted to attend their synagogues yesterday, if they so desired, of course attended by officers, and those who wished to attend divine service to-day were allowed to do so. Henry C. Justus, who testified against Radcliffe, the great diamond smuggler, under promise of exemption from the law, was yesterday committed for trial as an accomplice. The judge decided that one Whitely, a detective, was unauthorized to give such promises to criminals. A meeting was held in the Twenty-second street church this evening to form an American Palestine exploration society. Rev. Drs. Crosby, Hitchcock and Thompson are active in the movement, and will deliver addresses. Owing to the prevalence of incendiary fires in West Hoboken, Union and Weehawken, N.J., the citizens of these places have voted to form vigilance committees. Within a short time over $80,000 worth of property have been burned there. Jack Enright, a 1st ward murderer of this city, has been sentenced to ten years in prison in New Jersey for highway robbery. A man named Roberts has been arrested for selling counterfeit tickets on the Erie railway. Five hundred dollars worth were found on him, and $5,000 worth at his house. Nearly all the roughs who attended the Mace-Coburn fizzle were supplied with these counterfeits. The road has been swindled lately some $30,000 by these bogus tickets. Edward Nevins, who was arrested on a charge of selling counterfeit tickets over Erie and other roads to a large amount, has been committed for trial in default of $5,000 bail. Steamboat racing has again commenced on the Hudson river. The steamers Sedgwick and Adelphi, of opposition lines, were racing up the Hudson Friday evening, and when nearing Yonkers each boat endeavored to outstrip the other, determined to reach the dock first, and there was much excitement on the boats. A small boat was run down in the contest, and two men in it were obliged to leap into the water and swim ashore. Steamships Main for Bremen, Anglia and City of Paris for Liverpool, and the Lafayette for Havre, sailed to-day, taking an aggregate of over a thousand passengers. Among them were Victor Place, French consul-general, and M. de Jardin, chancellor of the French legation. The papers in the case of Mrs. Claflin, mother of the female brokers of Broad street, against Dr. James Harvey Blood, the husband of Mrs. Victoria Woodhull, and the company in thefirm of Woodbull, Claflin, & Co., were called up yes1erday afternoon at Essex Market police court. There was a large and eager crowd of spectators in the court. The charge was that Blood had threatened the complainant's life. Judge Ledwith decided that the prisoner was discharged. A controversy between Morgan & Sons and J. T. Tapscott, both claiming possession of ship Wm. Tapscott, is assuming serious dim nsions. Saturday, under orders of the United States commissioner, a body of United States marshals, with a platoon of marines from the navv yard, took forcible possession of the ship at her wharf, to be turned to the navy yard to await the action of the United States courts. Judge McCue has decided, in the action of Cole & Murphy against the Central bank, Brook lyn, for $10,000, the amount of their deposit when the bank failed, that the directors are liable for the losses sustained by the depositors. This morning, a carpenter shop and vitriol factory, owned by Mayor Kalbfieisch, Brooklyn, were completely destroyed by fire. Damage, $15,000; no insurance. The origin of the fire is unknown.

18. January 18, 1872 The New York Herald New York, NY
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BROOKLYN COURTS. UNITED STATES DISTRICT COURT. The Defenct Central Bank-Decision of Judge Benedict as to the Jurisdiction of State Courts in Bankrapley Cases. In the Matter of the Central Bank.-Judge Benedict yesterday rendered the following decision in this case:This case came before me on a petition filed on behalf of the Chatham National Bank, in which they seek to outain from the Court an order restraining the assignee in bankruptcy of the Central Bank from prosecuting, la the Supreme Court of this State, a certain action of law which he has there commenced against the peutioners to recover of them the amount or a payment of money which the assignee claims to have been 2 preferential payment, made contrary to the provisions of the Harty-ninth section of the Bankrupt act, and which he therefore claims to recover back by virtue of the provisions of the Bankrupt act. The application is based upon the ground that the State tribunals are without jurisdiction to entertain such an action as the one referred to. I do not so understand the law. The provision of the second chapter of the Bankrupt act does indeed confer upon lite District and Circuit Courts jurisdiction of certain actions, but I have never supposed the effect of that section to be to oust the jurisdiction of the State Courts. Moreover, in such a case as the one under consideration the Bankrupt act Is the law of the State Courts as well as of the national tribunals, and if by virtue of that act the state Court has no jurisdiction in the action thus brought against the petitioners it will 80 decide upon proper plea. I think the question of jurisdiction should be there decided, and that no reason appears for the exercising of the restraining power of this Court over the assignee, to compel him in a case like this to resort to the national iribunats instead of those of the State. An Expressman Recovers Damages for Being Excluded from n Meamboat. Before Judge Benedict. David T. Barnev brought an action against the steamboat D. R. Martin, her tackle, &c., for being excluded from that vessel by the officers. The D.R. Martin piles between New York and Hunungton, L. I., and the plaintur-an expressman-does - busi. ness between those places. ite paid his own rare and for his freight; but objection was made by the officer to his negotiating for business on the boat. They put him on and refused to allow him transportation. He, therefore, instituted this action. The case has previously ben reported in the HERALD. Yesterday Judge Benedict reudered a decision awarding the plainum $1,000 damages.

19. January 13, 1873 Evening Star Washington, DC
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# JUDGMENT AGAINST A BANK RECEIVER.- Judge Batt gave judgment yesterday for Jos. H. Havens, who sued the receiver of the Central bank of Brooklyn for $3,125, the amount of a check deposited for collection in the bank the day before its failure. The ground taken was that in receiving the check without disclosing the condition of the bank, the officers obtained no title to the check.

20. January 13, 1873 New-York Tribune New York, NY
Article from New-York Tribune, January 13, 1873

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NEW-YORK CITY. The Société Alsaecinne-Lorraine, last month, aided 76 Alsacian and Lorrain immigrants, at an expense of $894. Protection and advice was afforded to 150 others at Castle Garden. Judge Tappen's decision commanding the Boards of Kings and Queens County Supervisors to collect their quota of the State deficiency tax will be reviewed before the general term of the Supreme Court at Brooklyn, in February. In the United States District Court, on Saturday in the collision case of Daniel Owen and others agst. The Brig Annie Lindsey. Judge Blatchford directed the entry of a decree for the libelants with costs, and the usual order of reference to ascertain damages. This decision establishes the rule that a brig being in the wind, and close hauled, "18 bound to keep her course." The Bloomingdale Turnverein, in its annual report just issued, shows that the organization numbers 150 members? and has a capital of $12,000. The Turn school, established by the society, is attended by 175 boys and 38 girls. The officers for the ensuing year are: First Andres; Second Speaker. Jos. Laber; Secretaries, Mylins and H. Ridder; Treasurer, Fr. Flocken and Ferd. Wieler; Instructors, Kessler and J. Gose: Librarian, Lev. Schurr; Trustees, Jos. Berndt H. Templer, and Fr. Flocken. It is understood that all the conductors of the Harlem Railroad have tendered their resignations, to take effect on Thursday next, the directors having issued a new order requiring them to keep check books of their receipts, and give punched ticket to each passenger paying fare. The conductors consider such an evidence of distrust of their honesty as too marked and humiliating to be quietly submitted to. Joseph H. Havens, a depositor in the late Central Bank (of Brooklyn, recovered, on Saturday, a judgment against the assigner for $3,125, the amount of a deposit made in the bank after it had become insolvent, the plaintiff being ignorant of the fact. Judge Pratt in his decision held that aside from any technical point it was clear that the officers of the bank, in receiving the check without disclosing the condition of the bank, committed fraud upon the plaintiff, and obtained therefore no title to the check in question. BROOKLYN. Arrests last week, 344; taxes collected, $121,139 73; deaths, 182. Under a new regulation of Sheriff Williams visitors to the jail are now searched. and all intoxicating liquors taken from them. Liberated thieves are also prohibited from visiting their companions in confinement. A serious dispute has occurred in the Mormon Church, in the Eastern District, and the adherents of Brigham Young have ejected a member of their society for openly condemning polygamy. The leaders have organized a new branch, and style The Recognized Church of Jesus Christ. They met in Cosmopolitan Hall, yesterday, and listened to an address from one of the saints on Polygamy an Abomination in the sight of God." Tax-Collector Burrows has persistently refused to obey the law, it is alleged, in relation to the prompt payment to the Treasurer of moneys collected for taxes, and has withheld a balance of $964,903 03 for unexplained reasons. Controller Schroeder addressed a communication to the Collector regarding the matter, on Saturday, and said deem it my duty to demand and hereby do demand that you forthwith pay over the Treasurer of the city the sum of $964,903 03 due to the city, and now withheld by you contrary to law." The Collector says that it utterly impossible to pay over the Treasurer on the day of receipt all tax money, and that though the Controller may demand as often as he pleases, it will make no difference to him. LONG ISLAND. RIVERHEAD.-Judge Reid will hold Surrogate's Court here to-day Charles Serrell of New Village was brought to the county jail for theft a few days since. SOUTHOLD.-A special town meeting is to be held here to decide whether the Legislature shall be asked for an act bonding the town in $10,000 for building a town hall. HEMPSTEAD.-The new Treasurer of Queens County has opened an office at Freeport. STATEN ISLAND. NEW-BRIGHTON. - A coroner's verdiet of death from natural causes was rendered in the case of John Fion, who, it was alleged, had been killed by one Wilton, a bar-tender in Castleton-ave. FACTORYVILLE-I firemen were testing their new steam-engine, on Saturday, Michael Gorman was struck and dangerously injured by the nozzle of the hose. At the same time a boy (Joseph Joice) was seriously scalded about the neck and legs by steam escaping from the boiler. HUDSON RIVER COUNTIES. YONKERS.- The authorities of the new city intend to apply to the Legislature for some amendments to their charter. The principal changes proposed are to make the State, county, city, and school taxes payable at one time and place, and that the sales of land for non-payment of taxes shall be held here instead of at White Plains-that the Receivers of Taxes and Assessors, with the consent or approval of the Common Council, shall be appointed by the Mayor. POUGHKEEPSIE.- The Hudson River ice-cutting is now actively going on. There are nearly 7,000 men and 1,000 horses gathering the ice. which averages 11 inches in thickness. They are taking in about 9,500 tuns per day. The crop for the season, it is estimated, will reach 1,500,000 tuns. and will all be gathered by Feb. 1. MORRIFANIA.-The following have been elected officers of the Morrisania Saving Bank for the ensuing year:Win. Cauldwell, President John McLaughlin, Vice-President; E. B. Fellows, Secretary; H. P. De Graaf, Treasurer. YORKTOWN.-Henry Paterson has been appointed Postmaster James H. Purdy resigned. NEW-JERSEY. JERSEY CITY.-N. T. Cummings of No. 42 Morris-st. has been arrested by a New- York detective, on a charge of complicity in the recent silk robbery at the Williams & Guion steamship wharf in New-York. A water-pipe attached to the boiler of a kitchen range in W. Lewis's residence in Summit-ave. exploded on Satfurday and demolished the range and the windows of the room. The explosion was the result of a frozen waterpipe The acting Chief of Police was informed yesterday. that the saloon of John Hirsch. at Newark-ave. and Sixth-st. had become notorious as a gambling-house, and that it was used for gambling purposes on Sunday A squad of policemen, in citizens dress, proceeded to the place and caught a number of men in the act. William Faatz, Peter Harnes, Joseph Frank, and John Hirsch, the proprietor, were arrested and taken to the First Precinct Station-house where they were bailed for examination. Hirsch was also held on a charge of keeping a disorderly house The Rev. A.J. Park was installed pastor of the First Reformed Church, in Firstst., yesterday. The Rev. Dr. Van Cleef charged the pastor; the Rev. J. B. Suydam "delivered the charge to the people, and the Rev. W. W. Halloway preached the sermon. Public School No. 13, which has been closed for repairs, will be reopened to-day. GREENVILLE.-A meeting of citizens and tax-payers was held at Thair's Hall, on Saturday night, to take action in relation to providing funds for the School Commissioners and the payment of weekly to onnship expenses. The proceedings instituted by the tax-payers against the Street Commiss reduced the tax levy $20,000. and of the remaining $42,000, only one-fourth has been collected, since the tax -payers refuse to pay until it has been decided by the Legislature whether they belong to Greenville township as beretofore, or to Jersey City, as decided by the late special election held for that purpose. It was stated at the meeting that unless immediate action was taken the public schools must be closed and the employés now engaged on public works discharged for lack of funds to pay expenses. It was also stated that the Chancellor Jersey City had

21. July 25, 1873 New-York Tribune New York, NY
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is taken, and it shows the situation of the funds: Balance Balance Deposits dut Paym'tsdurJuly 19. July 12. ing the wik. ing the w'k. Names. $500,725 $449,982 $213,392 $162,650 Brooklyn Trust Co 164,197 164,197 Brooklyn Bank 328.421 100,270 228.151 National City Bank 136,000 136,000 Long Island Bank 296,710 296,710 First National Bank 340 64.189 424,887 361,038 Mechanics' Bank 14.838 14.838 Farmers' & Citi'ns'Bk 125,104 125,104 Central Bank 87,617 439,727 221.762 305,583 Nassau Bank 346,210 53,713 292,497 Fulton Bank Mechanics' & Traders' 61,958 61 958 Bank 95.092 5,023 90,070 Manufacturers' Bank., 72.346 72.346 Commercial Bank 119.273 119.273 Atiantic Bank $250.607 $3,125,395 $658,351 $2,717,757 Total Of the depositories above mentioned two are insolthe vent and one has suspended payment. These are Central Bank, Farmers' and Citizens' Bank, and the Brooklyn Trust Company. It will be readily seen from this table with how little regard for the bauking capital invested the city's funds are deposited. The Brooklyn Trust Company, with a capital of $500,000, has $500,725 83 of the city funds. The Nassau Bank, with a capital of $300,000, has over $400,000 of the city money. The Fulton Bank, with a capital of $300,000, has $346,210 75 from the city treasury; while the Brooklyn Bank, with $300,000 of capital, has only $164,197 71, and the Commercial Bank, with $200,000 capital, has only a little over $72,000 of the deposits.

22. September 17, 1873 New-York Tribune New York, NY
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BROOKLYN'S ENEMIES. Continued from First Page. whole or in part. The Central Bank failing, the money was lost, and it was then agreed between Sprague, Rodman, and Mills in writing, that they should mutually divide the loss. The loss, however, has been carried forward from time to time, and never has been made up. Among other loans made was one to Mulford and Sprague, Sprague's business firm, of $35,000, subsequently increased by an additional loan lot $25,000. That loan was subsequently repaid in installments, the last being made on July 22, 1873, upon the check of J.B. Murray, for $5,000. Loans were also made on Jefferson car stock to Smith Baker, who was a friend of Sprague's, and in whose enterprise I am informed Sprague had an interest. Sprague also loaned the Prospect Park Club $12,000, which was stolen from the City Treasury. He loaned the Long Island Club $10,000 on a check, and that was stolen money. He loaned $3,600 to one Collier, who was his horse man, and who bought with it the black mare Evelyn, he being joint owner of it. The security for that loan was a ticket put in the drawer. Mr. Sprague also loaned $75,000 stolen from the City Treasury to the Hope Mutual Life Insurance Company, in which he was largely interested. He also purchased some Prospect Park stock with money abstracted from the City Treasury. He invested also in the Brooklyn The ater, subscribing $2,000 toward its construction. This was also taken from the City Treasury. THE DEFICIENCY REDUCED. There are other persons to whom Sprague has loaned money for political purposes. These facts are indisputable, and evidence in my possession fully corroborates Rodman's statement that all of the stolen money went to Sprague, Mills, and their friends, and that the Deputy Treasurer never received a single dollar of the principal which was stolen, although he admits that he got his share of the interest over and above the three per cent realized on loans. Mr. Rodman states that the city deficiency has been largely diminished during the past year, owing to his repeated importunities and threatenings. A part of the reduction was the loan to Murphy and Sprague. Sprague borrowed from one of the city banks on the 26th of August, 1872, $28,500, and from another bank on the 21st of October, same year, $20,000, which he turned over to the reduction of the deficiency. Sprague borrowed for the Trust Company in the name of Edgar M. Cullen, without that gentleman's knowl_ edge. $45,000, which he also used for the reduction of the deficiency. At the time the Trust Company stopped there was a deficiency in the sinking fund. It was for that fund that the loan to Mulford and Sprague had been drawn. Sprague went, however, to one of the banks in the city and opened an account for the benefit of the Sinking Fund, and deposited certain checks to that account sufficient to cover the deficiency. Subsequently that money was drawn by a check dated Aug. 9, 1873, signed by 8.8. Powell, Mayor, and C. A. Sprague. After the suspension of the Trust Company Sprague called on Rodman, as has been stated before, begged of him with tears in his eyes to leave the country, urged that they were standing upon the brink of a preetpice, and said that he would give him $50,000 if he would run away. Rodman refused, saying that he had none of the stolen money and would not run away from his family, whom he loved, and whose reputation he valued. A friend having overheard this conversation, advised Rodman to remain and take his chances.