13745. Central Savings Bank (New York, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
January 1, 1876
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini
Short Digest
ae412de6a3eba97e

Response Measures

None

Description

Articles report the bank in receivership (Isaac T. Smith, receiver) with filings in Feb and Apr 1876 showing liabilities far exceeding assets. No mention of a depositor run; indicates suspension/closure and receivership. I did not infer any runs beyond the receivership facts in the articles.

Events (3)
1. January 1, 1876 Suspension
Cause
Government Action
Cause Details
Bank placed in receivership (Isaac T. Smith) due to insolvency; liabilities greatly exceeded assets.
Newspaper Excerpt
Liabilities, which consist of depositors' and other creditors' claims, amount to $12,919.95.
Source
newspapers
2. February 13, 1876 Receivership
Newspaper Excerpt
THE CENTRAL SAVINGS BANK. RECEIVER'S MONTHLY REPORT. The receiver of the Central Savings Bank, Mr. Isaac T. Smith, yesterday filed his monthly report in the County Clerk's office for the month of December, 1875.
Source
newspapers
3. April 22, 1876 Other
Newspaper Excerpt
Isaac T. Smith, receiver of the above bank, yesterday filed in the County Clerk's office his statement, showing that the liabilities, January 1, were $12,919.95, the assets $8,195, of which sum $3,629.30 was a claim against the Ocean National Bank, there being only $1,191.26 cash on hand to the bank.
Source
newspapers

Newspaper Articles (2)
1. February 13, 1876 The New York Herald New York, NY
Article from The New York Herald, February 13, 1876

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Article Text

THE CENTRAL SAVINGS BANK. RECEIVER'S MONTHLY REPORT. The receiver of the Central Savings Bank, Mr. Isaac T. Smith, yesterday filed his monthly report in the County Clerk's office for the month of December, 1875. According to this statement the whole amount of receipts up to date is $10,135 42, of which $8,945 16 were disposed of in the following manner:Loan and interest to Mechanics and Traders' Savings Institution $3,039 12 First dividend to creditors (20 per cent) 3,102.96 Rent of banking room 1,281 50 Expenses of receivership 1,521 58 The assets, January 1, were:-Balance in cash in receiver's hands, subject to his commission and expenses, $1,190 26; amount due from receiver of Ocean Bank, $3,629 30, or a total of $4,819 56. Liabilities, which consist of depositors' and other creditors' claims, amount to $12,919,950.

2. April 22, 1876 The New York Herald New York, NY
Article from The New York Herald, April 22, 1876

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Article Text

THE CENTRAL SAVINGS BANK. Isaac T. Smith, receiver of the above bank, yester day filed in the County Clerk's office his statement, showing that the liabilities, January 1, were $12,919 95, the assets $8,195, of which sum $3,629 30 was a claim against the Ocean National Bank, there being only $1, 191 26 cash on hand 10 the bank.