National Bank (Auburn, NY)

Episode Information

Episode UID
135001057
Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
13500 national
Charter Number
1350
Start Date
January 23, 1888
Location
Auburn, New York

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
cbb2677bba0eeb5c

Response Measures

None

Events (3)

1. June 28, 1865 Chartered
Source
historical_nic
2. January 23, 1888 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank failed (insolvent) on January 23, 1888; article reports failure and subsequent dividend proceedings
Newspaper Excerpt
the National bank of Auburn, N. Y., which failed Januar 23, 1888.
Source
newspapers
3. April 5, 1889 Receivership
Newspaper Excerpt
The comptroller of the currency has declared a fourth dividend in favor of the creditors of the National bank of Auburn, N. Y., which failed January 23, 1888. This makes in all 45 per cent on claims proved amounting to $790,870.
Source
newspapers

Newspaper Articles (2)

Article from The Mankato Free Press, April 5, 1889

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Article Text

CONDENSED NEWS OF THE DAY. The opera singer Girards isseriously ill at Berlin. The valued policy insurance bill was passed Thursday in the Illinois house. The Prince of Wales has accepted an invitation to dine with Mrs. J. W. Mackay. It is an odd fact that Jay Gould, rain or shine, winter or summer, always carries an umbrella. The London Church Missionary society has received information that the missionaries in Nyanza and Usagara are safe. Union Pacific earnings decreased $172,180 gross and $77,189 net in February as compared with the same month of last year. At Lexington, Ky., a street car driver named Fleming was attacked by roughs while on his car, and probably fatally cut. A public debate has been arranged between Henry George and Samuel Smith, Gladstonian M. P. The debate will take place in London in May. Thomas Keegan, the Irish rebel of '98, was buried in Juniata township, Pennsylvania, Thursday, aged 108. He came to America seventy-five years ago. Dr. R. P. Howard, dean of the medical faculty of McGill university, Montreal, and one of the most distinguished medical men on the continent, is dead. Adam Forepaugh has sold a handsome African lion to Charles T. Yerkes, Jr., of Chicago, which the latter intends to present to the Chicago zoological gardens. At Lexington, Ky., seven desperate prisoners attacked the keeper of the workhouse, Sullivan, disarmed him, shot him perhaps fatally and escaped. They are still at large. Walt Whitman is again confined to his house in Camden, and his indisposition is great that the "good gray poet" is unable to write at all. He is very feeble. and has but little appetite. The Berlin Tagblatt learns than Vanderbilt's yacht will arrive at Hamburg in May, and that the family will leave the vessel at that port and make a visit to Berlin. The yacht is now at Nice. The comptroller of the currency has declared a fourth dividend in favor of the creditors of the National bank O: Auburn, N. Y., which failed Januar 23, 1888. This makes in all 45 per Cโ‚ฌ at on claims proved amounting to $790,870. Queen Victoria has sent a message of regret to Emperor William regarding Germany's naval misforture at Samoa and expresses her deepest sympathy for the relatives of the brave officers and sailors who lost their lives in the disaster. The steamer Harrox, which arrived in New York from Rio Janiero. reports the town of Santos as being yellow fever ridden, the death rate reaching thirty a day. Yellow fever and smallpox is also devastating Rio Janiero, the daily deaths being thirty. At Paris, Ky., aged Berry Childers, alone and friendless, could not pay his creditors, and his household goods were set out in the road by the sheriff. Having no place to put them the old man set them on fire and went out into the cruel world empty handed. White Caps visited Pittsfield, III., Saturday and almost totally destroyed the windows and sash in the building oocupied by Charles Martin, a negro running a restaurant and gambling den. They notified him they would hang him if he again opened his place of business. Emperor William has recently been giving the municipal authorities at Berlin some private lessons in politeness and courtesy. He has formally instructed them in regard to the entertainment and courtesies to be shown the new Japanese envoy, whose arrival at Berlin is shortly expected. A dispatch from Salt Springs, Kings county, N. B., says that an old man named Robert Leckie and his family were awakened Sunday morning by flames in their house and had just time to escape with their lives. Leckie rushed back to obtain some valuable papers and was burned to death. The Los Angeles police report that Verona Baldwin, who gained such notoriety several years ago by shooting "Lucky' Baldwin, is insane and that they propose to put her in an asylum. She fancies she is filled with electricity and that she is related to a noble English family. King Karl, of Wurtemburg is again having trouble regarding his American favorites, whom he placed over his state officers in his confidence. He has banished from his kingdom one of his privy councillors who had secretly obtained and afterwards divulged certain compromising correspondence between the king and one of the Americans. In New York, Judge Barrett, in the case of the National Express company against the tax commissioners, decided that joint stock companies that have not availed themselves of the privilege of becoming corporations under the general law are not liable to taxation on their stock under the state law assessing the capital stock of corporations.


Article from The Birmingham Age-Herald, March 12, 1908

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Article Text

FINANCIAL BILL HOTLY DENOUNCED Senator Clarke of Arkansas Hits Several Fierce Blows ALDRICH ATTEMPTS REPLY Investigation of Causes of the Panic Is Demanded by Senator Clarke, Who Also Denounces New York Stock Exchange. Washington, March 11.-Senator Clarke of Arkansas denounced the pending currency bill in a speech in the Senate today, declaring that no currency legislation should be enacted until an investigation is held as to the causes of the panic. "No such legislation is necessary now, said Mr. Clarke. "It is not only not necesI sary, but it may become dangerous. am not disposed to tolerate the idea of giving any support to the committee bill, nor the substitute proposed by the minority members of the Senate." If emergency currency is to be provided, Mr. Clarke said, the benefits should be extended all persons whose legitimate business demands cause them to need it. Mr. Clarke denounced the operations of stock exchanges and said the American people would not be satisfied with the proposed currency legislation without a complete knowledge of causes of the panic. "The time has arrived," he said, "when the affairs of the New .York stock exchange and other stock exchanges must be looked into." Mr. Clarke's reference to the stoppage of the payments by the New York banks called Mr. Aldrich to his feet with the remark that he did not believe the people would permit that course again to be pursued. "I trust the senator from Rhode Island as a historian," retorted Mr. Clarke, "but I do not trust him as a prophet." Mr. Clarke expressed the opinion that the majority would not pass the bill allowing the emergency circulation to be retired without limitation. Mr. Clarke said he would not only require a restriction of reserves, but he would deny to a national bank the right to pay interest on checking accounts. Senator Nelson suggested that the national banks should pay interest on the $250,000,000 of government deposits. Mr. Aldrich said that five years ago he had introduced a bill providing for the payment of interest on such deposits at the rate of 1 1/2 per cent, but, he added, senators had opposed that bill on the ground that it changed the nature of the loan. Former Senator Spooner and the late Senator Morgan, he said, opposed the bill. If that objection could be overcome he declared his willingness to again bring in such a measure. He did not know any reason unless it should be a legal one, of the kind suggested, why interest should not be charged on these deposits. Mr. Culberson, he said, had introduced a bill to require payment of interest on government deposits and it was now before the committee on finance. Mr. Bailey spoke at some length suggesting that the main purpose of his substitute was to favor the principle of government money instead of bank money He explained that he had provided for a distribution of the emergency currency in accordance with population, although he realized that business necessity was a greater measure of the amount they should have. But it was not possible to make sure of the business needs of the several sections and it was a simple matter to ascertain the population. An extended argument was made by Mr. Newlands of Nevada in favor of his view that the sending of a check from one state to another makes the business of banking interstate commerce.