13995. Gloucester City National Bank (Gloucester City, NJ)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
3936
Charter Number
3936
Start Date
May 1, 1890
Location
Gloucester City, New Jersey (39.892, -75.116)

Metadata

Model
gpt-5-mini
Short Digest
7003a675

Response Measures

Full suspension, Books examined

Other: Receiver later appointed and Comptroller declared dividend; permanent closure into receivership.

Receivership Details

Depositor recovery rate
52.5%
Date receivership started
1890-06-12
Date receivership terminated
1894-02-02
OCC cause of failure
Excessive lending
Share of assets assessed as good
8.9%
Share of assets assessed as doubtful
16.4%
Share of assets assessed as worthless
74.8%

Description

Multiple contemporaneous reports (May 1–2, 1890) state a run began as doors opened and the bank posted a notice of temporary suspension the same day. Reports link the run/suspension to the failure of the Bank of America (Philadelphia) with which Gloucester City N.B. was affiliated (a correspondent/connection failure). Later items (Nov 1890, 1891) reference a receiver and dividend payments, indicating the bank did not resume normal operations and entered receivership/closure.

Events (5)

1. October 26, 1888 Chartered
Source
historical_nic
2. May 1, 1890 Run
Cause
Correspondent
Cause Details
Run was triggered by failure/suspension of the Bank of America (Philadelphia), with which Gloucester City National Bank was closely connected
Measures
Doors closed and a notice of temporary suspension was posted; officials declined to give statements
Newspaper Excerpt
A run began on the Gloucester City National Bank as soon as the doors were opened this morning
Source
newspapers
3. May 1, 1890 Suspension
Cause
Correspondent
Cause Details
Suspension followed immediate run caused by the failure of the Bank of America (Philadelphia), an affiliated/correspondent institution
Newspaper Excerpt
Just before noon the building in which the bank is located was closed up and a notice posted up announcing the temporary suspension of the institution.
Source
newspapers
4. June 12, 1890 Receivership
Source
historical_nic
5. November 8, 1890 Receivership
Newspaper Excerpt
The comptroller of the currency has declared a first dividend of 20 per cent. in favor of the creditors of the Gloucester City National bank ... The bank failed May 1, 1890.
Source
newspapers

Newspaper Articles (23)

Article from Alexandria Gazette, May 1, 1890

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Telegraphic Brevities. The settlement among the creditors of the defunct fi m of H. S. Ives & Co., in New York for five cents on the dollar is about to be consummated. A run was made on the Gloucester City, N. J, National Bank to day. The Washington, N. J., Shoe Company is financially embarrassed to the extent of $35,000. W. B. Lindsey, deputy postmaster of Helena, Ark, is $3,500 short in his accounts and a fugitive. The Boston doctors who examined the Swedish woman at quarantine pronounced it a case of Jepresy. The American warships Chicago, Yorktown, Boston, and Atlanta sailed from Malta to-day for Algiers. The Atholde Marble Company, at Fair Haven, near Boston, has been petitioned into insolvency. Liabilities $25,000. James Palmer was hanged in the prison corridor at Concord, N. H, at 11:04 this morning for the murder of Henry T. Whitehouse on May 17, 1888 At the Boston Athletic Association, last night the WO. ld's ocord in rope climbing was beaten by H. Williams, who accomplished 35 feet in 12½ seconds. The proposed reduction in the wages of the employees of the United States Express Company, in New York, was enforced to-day. Everything goes on as usual. D w's scap factory, in Poston, was damaged $15,000 by fire last night. A rendering tank was thrown 100 foot in the air and descended with great force through the roof of an adjoining building. No one was injured. The steamer Brittania, from Moditerrianean ports, which arrived at New York to-day, had an Italian mutineer on board, in irons. He tried to get his 1145 countrymen on board to throw the officers and reamen overboard and take possession of the ship. While driving across the Lehigh Valley tracks at Ballston crossing, near Linden N. Y., yesterday George Webber and his wife were struck by a passing passenger train. Webber was instantly killed and his wife suffered a fracture of the skull and will probably die. In the trial of Mrs. Vandegrift at Mount Holly, N. J., to-day, two of her servants swore to having purchased croton oil at different times for her, but they never saw her put the poison in Frank's food. An attempt to prove that Mrs. Vandegrift committed forgery to raise money was ruled out by the court. This morning an officer went to the residence of Henry C. Eaymond, at Sing Sing, N. Y, to arrest him on the charge of bigamy. Raymond received the announcement cooly, asked the officer to wait till he could get go his bat and then went to his room and fatally shot himself in the side The woman who made the chargeagainst him says Enymond married her in Brooklyn in 1888 and deserted her. He was 45 years of age.


Article from New-York Tribune, May 2, 1890

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FOLLOWING THE BANK OF AMERICA. THE GLOUCESTER, N. J., CITY NATIONAL BANK CLOSED. Camden, N. J., May 1 (Special).-The Gloucester City National Bank closed its doors this morning. The notice of suspension was posted soon after opening-hours. Cashier Samuel W. Stokes appeared much worried. He refused to give out any information whatever. and referred reporters to Charles L. Work, the president. One of the first persons to step into the bank when the doors were opened at 9 o'clock was a runner from the National State Bank of Camden. He had a bundle of checks which he presented at the paying-teller's desk. but payment on them was refused. The runner. who was also a notary public, immediately protested the checks. Cashier Rose, of the National State Bank of Camden. stated this afternoon that they did little business with the Gloucester bank. except In the way of collections. He said that they had checks amounting to about $1.000 sent them yesterday, which the Gloucester bank paid to-day. They had up to 1 o'clock protested checks on the Gloucester bank to the amount of over $2,000. At the First National only one check, for $4, had been received against the Gloncester bank. It is not two years since the G'oucester City National Bank was started. Charles L.'Work. who is a son of George F. Work, is at its head. Owing to the losses the people of Gloucester had experienced by the failure of the Gloucester City Savings Institution. they were slow to confide in the new bank Cashier Stokes declined to make any statement as to the finances of the bank, and as none has been published in the Camden papers for some months. the figures were difficult to obtain. The paid. up capital stock is said to be $50,000. There was a slight run on the Fidelity Surety, Trust and Safe Deposit Company, of which Work is also president, but all checks were honored by Cashier Ellison, who said that the company was in good condition. Presi. dent Work said to-day that he owned stock in the Bank of America of Philadelphia, which suspended yesterday.


Article from The Wheeling Daily Intelligencer, May 2, 1890

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A New Jersey Bank Suspends. PHILADELPHIA, PA., May 1.-A run began on the Gloucester City National Bank at Gloucester, N. J., as seon as the doors opened this morning, and just before noon the building in which the bank is located was closed up and a notice posted up announcing the temporary suspension of the institution. The Gloucester bank was closely connected with the Bank of A merica, which suspended here yesterday, and the run was caused by the failure of the Philadelphia concern. The bank did not do a very extensive business, and it is not thought that there will be any financial distress in Gloucester on account of the suspension. Mr. Charles E. York, the President, declined positively to make any Statements of the liabilities of the bank.


Article from The Cheyenne Daily Leader, May 2, 1890

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Broke the Bank. GLOUCESTER, N.J., May 1.-A run began on the Gloucester City National bank as soon as the doors opened this morning. Just before noon the bank suspended. The run is the result of its affiliation with the Bank of America of Philadelpbia, which failed yesterday.


Article from Wheeling Register, May 2, 1890

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Another Bank Dragged Down. CAMDEN, N. J., May 1.-The Gloucester City National Bank closed its doors this morning. The suspension is supposed to be due to the failure of the Bank of America yesterday in Philadelphia, with which it had dealings. No statement of the Bank's affairs could be secured to-day, the officials declining to make any.


Article from Deseret Evening News, May 2, 1890

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Another Bank Failure. GLOUCESTER, N. J., May 1.-A run began on the Gloucester City National Bank as soon as the doors were opened this morning. Just before noon the bank suspended. The run was the result of its affiliation with the Bank of America of Philadelphia, which falled yesterday. Touching the condition of the Western farmers, General Butler said that the farms are passing out of the ownership of the tillers of the soil and they are becoming simply tenant farmers, the worth of the land having been wrested from them in spite of all their industry. Referring to the fabulous mortgaged debt on farm property, the speaker closed by saying: "As the payment of the mortgages is simply impossible, the payment of the interest upon them is also impossible, because they call for from 7 to 9 per cent and all statistics show that the average profits on farming industries are between 4 and 5 per cent only, hardly over 4. These mortgages never can be paid, if for no other reason, because they never can be paid if the debtors are ever 80 much disposed to pay them."


Article from Evening Capital Journal, May 2, 1890

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The Gloucester City, N. J. National bank has suspended. |


Article from Los Angeles Herald, May 2, 1890

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Another Bank Failure, GLOUCESTER, N. J., May 1.-A run began on the Gloucester City National Bank as soon as the doors opened this morning. Just before noon the bank suspended. The run was the result of its affiliation with the Bank of America, of Philadelphia, which failed yesterday.


Article from Richmond Dispatch, May 2, 1890

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Gone Up with the Bank of America. (By telegraph to the Dispatch.) Philadelphia, May 1.-A run began on the Gloucester City National Bank, at Gloucester, N. J., as soon as the doors were opened this morning, and just before noon the building in which the bank is located was closed up and a note announcing the temporary suspension of the institution was posted on the outside thereof. The Gloucester Bank was closely connected with the Bank of America. which suspended here yesterday, and the run was caused by the failure of the Philadelphia concern. The bank did not do a very extensive business and it is not thought there will be any financial distress in Gloucester on account of the suspension. Charles F. Work, the president, declined positively to make any statement of the assets and liabilities of the bank.


Article from Evening Star, May 2, 1890

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Another Bank Gone Under. CAMDEN, N. J., May 2.-The Fidelity Surety Trust and Safe Deposit Company suspended payment this morning. Charles L. Work, the president of the Gloucester National Bank, which suspended yesterday, was also its president. Bank Examiner Andrew, who is going over the books of the Gloucester City National Bank, stated to a reporter this forenoon that it is his opinion that the bank will be able to pay its depositors in full. A notice to this effect has been posted on the door of the bank.


Article from The Salt Lake Herald, May 2, 1890

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A Gloucester, N. J. Bank Suspends. GLOUCESTER, N. J., May 1.-A run began on the Gloucester City National bank as soon as the doors were opened this morning. Just before noon the bank suspended. The run was the result of its affiliation with the Bank of America, Philadelphia, which failed yesterday.


Article from The Morning News, May 2, 1890

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A BANK CLOSED BY A RUN. The Concern Closely Connected with the Broken One at Philadelphia. PHILADELPHIA, May 1.-A run began on the Gloucester City National Bank, at Gloucester, N. J., as soon as the doors opened this morning, and just before noon the building in which the bank is located was closed up, and a note announcing a temporary suspension of the institution was posted on the outside. The Gloucester bank was closely connected with the Bank of America, which suspended here yesterday, and the run was caused by the failure of the Philadelphia concern. The bank did not do a very extensive business, and it is not thought that there will be any financial distress in Gloucester on account of the suspension. Charles F. Work, president, declined positively to make any statement of the assets and liabilities of the bahk.


Article from Fort Worth Daily Gazette, May 2, 1890

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A Gloucester Bank Suspends. PHILADELPHIA, Pa., May 1.-A run began on the Gloucester City National bank at Gloucester, N. J., as soon as the doors opened this morning and just before noon the building in which the bank is located was closed np and a notice announcing the suspension of the institution was posted. The bank was closely connected with the bank of America which suspended here yesterday, and the run was caused by the failure of the Philadelphia concern. It is not thought there will be any financial distress in Gloucester on account of the suspension. order tot be er.hun condit ms, it is wis 12 to build than araios a. mey complaints. dang 18, dican e avoided by keepi the sy: m in derfect Order by the use of Cascarine.


Article from St. Paul Daily Globe, May 2, 1890

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PANIC-STRICKEN DEPOSITORS A Run on a Jersey Bank Causes Its Suspension. PHILADELPHIA, May 1.-A run began on the Gloucester City National bank at Gloucester, N. J., as soon as the doors opened this morning, and just before noon the building in which the bank IS located was closed up and a notice announcing the temporary suspension of the institution was posted on the outside door. The Gloucester bank was closely connected with the Bank of America, which suspended here yesterday, and the suspension was caused by the failure of the Philadelphia concern. The bank did not do a very extensive business. and it is not thought that there will be any financial distress in Gloucester on account of the suspension. Charles F. Work, the president, declined positively to make any statement of the assets and liabilities of the bank.


Article from Evening Journal, May 3, 1890

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ONE CENT. JERSEY BANKS CLOSED. The MacFarlane Rumors Shut Up Six Institutions. MANY PEOPLE ARE MOURNING. The Fidelity Surety Trust and Safe Do. posit Company, of Camden, and Its Branches, and the Mercantile Bank, of Atlantic City, Have Suspended Payment. CAMDEN, N. J., May 3.-The Fidelity Surety, Trust and Safe Deposit company, of this city, closed its doors yesterday. The suspension of this institution was expected when the announcement of the failure of the Gloucester City National bank was made. The concerns were very closely allied. Charles R. Work was president of both, and Charles C. McNaughton was a director in both institutions. Cashier Samuel W. Stokes, of the Gloucester bank, was also a director in the Fidelity. President Work Talks. A reporter saw J. Austin Ellison, treasurer of the Fidelity, but he declined to make any statement. When asked whether the depositors would get their money, lie said: "I decline to say anything." President Work said: "Under a raid no company can stand. Weare all right if we are given a chance to realize without sacrifice on our assets. This has all come froma the report that I had stock in the Bank of America. I sold out my Bank of America. stock over a year ago and since that time have had no connection with it whatever." Scarcely a Ripple Caused. The company was organized under the state laws. The capital is announced as $200,000, but it is claimed that but a small portion of this is paid in. The company has been doing business less than thirty months. Its suspension caused scarcely a ripple in Camden financial circles. The Boy's Check Was Not Cashed. President Work and Secretary and Treasurer J. Austin Ellison conducted the entire business, and early in the morning they assured depositors that the concern to meet was plication able of Richard its obligations Deer, 14 years The old, ap- for $27, the amount of his savings on deposit, was the last straw. Secretary Ellison informed him that the company was unable to pay the money at that time, but would do so in a few days. The boy was the first to be refused, and left the office with tears rolling down his cheeks.


Article from The Sun, May 3, 1890

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A Camden Banking Concern Suspends. CAMDEN, May 2-The Fidelity Surety. Trust and Safe Deposit Company closed its doors to-day. announcing a temporary suspension. Charles L. Work, President of the suspended Gloucester City National Bank, was also the President of this concern, which was organized recently to do a banking. surety. and trust business. The collapse of the Gloucester Bank turned attention to this company yesterday, and there were rumors from time to time that it had closed its doors. but it did not do 80 in fact until the regular hour. and then only upon the announcement that it was perfectly solvent and would demonstrate the fact to-day. When the door was opened this morning a small run was made. It stood the storm until 11:15, when it was forced to suspend. President Work was present all through the morning. and just before 11 o'clock he said he was confident the company would pull through. The Secretary and Treasurer, J Austin Ellison, said that the company had only a small line of deposits, and that its business was mainly of a fiduciary character and the insurance of personal bonds. President Work said: "Wo are all right. if we get a chance 10 realize without eacrifice on our assets. This has all come from the report that I had stock in the Bank of America. I sold out my Bank of America stock more than a year ago, and since that time I have had no connection with it whatever." The company was organized under the State laws. The capital is announced as $200,000 but it is said that only a small portion of this is Daid in The company has been doing business less than thirty months Its suspension caused hardly a ripple in Camden financial circles. as it had been looked for. and the regular banks had no dealings with the new company. The company did a small business in insuring personal bonds and in the issue of investment bonds Charles T. Work. as is understood, owns nearly all the stock of the company. ATLANTIC City, May 2-The Merchants' Back of this city suspended payment at 2 o'clock to-day on account of a run caused by published reports that their branches as Elmer. Pleasantville, REE Harbor City. and Mullica Hill had closed on account of the suspension of the Bank of America in Philadelphia. There was as excited crowd about the bank. The depositors are principally small business men. The capital of the @50,000. bank full paid is $50,000. The deposits are estimated at


Article from Evening Journal, May 5, 1890

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An Asphalt Company's Troubles. PHILADELPHIA, May 5. - The Asphalt Block company, which, according to Cashier Samuel Stokes, was the cause of the suspension of the Gloucester City National bank, has been compelled to issue an amount of new stock equal to one-half of its present issue in order to raise enough funds to meet maturing obligations and carry on business. The capital stock was originally $204,000, but William F. Slingluff, the cashier of the Montgomery National bank at Norristown, who was one of the directors, objected to $20,000, and that. amount was stricken off, reducing it to $184,000. Although the original stock was full paid, there was a proviso that in case of need it could be assessed for 50 per cent. of its value. The first call Ander this proviso was made about a month ago, but the stockholders did not take kindly to it, and in order to get out of paying the assessment signed an agreement to subscribe fox new stock equal to the required amounts. By this arrangement $92,000 is realized, and the capitalization is increased to $278,000. The company's officers have succeeded in negotiating a loan from the Montgomery National bank. The stock and paper of the company have played an important part in estimating the values of assets of institutions controlled by the Messrs. Work, especially as the company has at times declared dividends.


Article from The Abbeville Press and Banner, May 21, 1890

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THE NEWS EPITOMIZED. Eastern and Middle States. THE eight-hour workday movement was begun in New York city quietly. Only about a dozen men went on strike. The socialist labor party and the Central Labor Union celebrated the day by a parade and mass meeting at Union Square. There were demonstrations, also, at Philadelphia, Boston. Pittsburg, and throughout the Eastern States generally. JAMES PALMER, convicted of the murder of Henry T. Whitehouse, of Portsmouth, was hanged at Concord, N. H. CATTLE and sheep sheds and barns and stables, covering nearly eight acres of ground in the West Albany (N. Y.) Live Stock Yards. were laid in ashes by an incendiary's match. THE Assembly in Albany, N. Y., passed a bill to abolish capital punishment. GEORGE WEBBER was killed at Belknap crossing, near Attica, N. Y., by being struck by a train. His wife's skull was fractured, injuring her fatally. THE failure of the Bank of America in Philadelphia has been followed by that of the Gloucester City (N. J.) National Bank. At the time of the failure the deposits were about $40,000. The depositors are mostly poor working people. FECHHEIMER, RAU & Co., shirt manufacturers of New Yorkcity, have failed; approximate liabilities, $350,000; assets, $275,000. PATRICK D. FLANNIGAN entered a saloon at Waterbury, Conn., ani asked Michael McDermott to drink with him. As McDermott responded Flannigan, without a word, emptied the six barrels of a 32-calibre revolver into McDermott's face and throat and then walked out. McDermott died within an hour. THE Fidelity Surety, Trust and Safe Deposit Company, of Camden, N. J.; the Port Norris Bank, the Merchants' Bank of Atlantic City, N. J., and the Merchants' Bank of Pleasantville, N. J., suspended payment. SHARPERS stole $1000 from the Rev. Father Thomas J. Ariens at Bridgeport, Conn., and left a baby on his hands. CRIMINAL proceedings have been begun against the officers of the broken Philadelphia banks. WILLIE HULSE. aged ten years. son of J. H. Hulse, No. 329 Hu ison street, New York, was shot and instantly killed by his playmate, Charles Sickles, aged fifteen, at Good Ground, Long Island, N. Y. A RUNAWAY accident occurred in Maple avenue, Penn., in which Willie Fitzpatrick. eight years of age, was instantly killed. His little sister was fatally injured, and two other children were badly bruised and cut, and the father of the dead boy was severely injured. Mrs. Fitzpatrick became violently insane after the accident. THE entire business portion of South Dayton, N. Y., has been destroyed by fire. Loss, $20,000. IN New York and Brooklyn nearly all the carpenters went to work under the eight hour day system. There was no striking necessary to gain this point. ASHINGTON QUINLAN, a member of the New York Stock Exchange, has disappeared owing about $100,000. JOHN CROMOCK, a morphine eater, killed his thirteen-year-old daughter at Foxboro, Mass., and then committed suicide. THE Singer Sewing Machine Works. at Elizabethport, N. J., covering two acres of ground, were almost wholly destroyed by fire, together with a considerable amount of the railroad property adjoining. The works employed about 3500 hands. The loss is about $3,000,000.


Article from Evening Journal, November 8, 1890

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THE NEWS IN BRIEF. Condensed Telegrams Gathered from Va. rions Places. The treasury department is issuing new one dollar notes at the rate of 4,000 a day. The issue will continue until the string. ency in the market for small notes is overcome. Robert Nelson Gere, a member of assembly in 1862, and prominently connected with salt, banking and manufacturing interests, died at his home in Syracuse, N. Y., Nov. 7. The Mutual Fire Insurance company, of Chicago, has filed a general assignment. Liabilities, $57,604.89: nominal assets, $187, 660.60. Unusually large losses, a consequent assessment, followed by a loss of confidence and withdrawal of holders of premium notes caused the suspension. A boiler in Baker Brothers' cotton gin at Dyersburg, Tenn., burst, killing two negroes and wrecking the gin. Lord Chief Justice Coleridge, who, while presiding over the queen's bench division of the high court of justice, was taken seriously ill with an attack of acute gastritis, is rapidly recovering. His physicians dc not consider his ailment serious. The comptroller of the currency has de clared a first dividend of 20 per cent. in favor of the creditors of the Gloucester City National bank, of Gloucester City, N.J., on claims proved amounting to $27, 456.32. The bank failed May 1, 1890. H.S. Billings, for twenty-five years superintendent of the Pullman Palace Car company, died at Hornellsville, N. Y., Nov. 7. George Halstead, a well known merchant of Ashford Junction, N. Y., was struck by a passenger train on the Buffalo, Rochester and Pittsburg railroad and instantly killed. Nehemiah Allen Leonard, president of the Connecticut River railroad and one of the leading lawyers of the Hampden county bar since 1850, died at Springfield, Mass., Nov. 7, aged 65 years. Austin Gibbons, the Paterson (N. J.) special light weight, did up his Brooklyn rival in the same class, Mike Cushing, in nineteen rounds, at Providence, R.1 Maj. Gen. Miles reports that most of the western Indians expect a Messiah, and says the Mormons are at the bottom of it. Three men were killed at a duel on election day in a Kentucky mountain town. Thomas and Henry Harper have depart ed from New York, leaving large indebt r edness. They claimed to have invented a machine which would duplicate automat S ically the work of a hand painter on china. e Arrests for election frauds are ordered in Philadelphia, and there is a fugacious in n clination on the part of crooked politicians. e Politicians are divided on the New York 1 senatorship. Shrewd reasoners argue that neither Mr. Cleveland nor Governor Hill could take it, and some think a New York o city man may get it, though there are be e lievers in Smith M. Weed's chances.


Article from Connecticut Western News, November 12, 1890

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TELEGRAPHIC BREVITIES. The World's News Gleaned, Sifted and Condensed. FRESH TIPS FROM THE WIRES. Is Is Going on of Interest That of the What Reading The Wheat Whole World's Worth News Winnowed from a Week's Threshing. new treasury department rate of is issuing 4,000 a day. ency The dollar notes at the until the string- overone The issue in the will market continue for small notes is of ascome. Robert Nelson Gere, prominently a member connected inin 1862, and manufacturing terests, Nov. sembly with salt, died banking at his home and in Syracuse, of 7. Mutual Fire Insurance general company, assignment. $187, The has filed a nominal assets, a Liabilities, large losses, a loss of followed of holders 660.60. Chicago, assessment, Unusually $57,604.89 withdrawal by conse- of gin quent confidence and caused the suspension. cotton premium A boiler notes in Baker Brothers' burst, killing two negroes at and Justice Tenn., Coleridge, the gin. bench who, division while Lord Chief over the queen's justice, was taken seris rapidly his ailment ously of presiding the ill high with recovering. court an attack of His of serious. acute physicians gastritis, de- do has not consider comptroller of the currency 20 per cent. in The first dividend of of the Gloucester City, favor clared National of a the creditors bank, of amounting Gloucester to $27, City J., on claims proved failed May 1, 1890. 456.32. N. The bank for twenty-1 five Palace years Car superintendent H. S. died of at the Hornellsville, N. Nov. company, Billings, Pullman known merchant Y., by George 7. Halstead, a well N. Y., was Rochester struck Ashford Junction, on the Buffalo, killed. and of a passenger Pittsburg train railroad Leonard, dinstantly president one of of since Nehemiah Connecticut Allen River the railroad Hampden and county the the leading 1850, lawyers died of at Springfield, Mass., J.) bar Nov. 7, aged Gibbons, 65 years. the Paterson his Brooklyn (N. in Austin light weight, did Mike up Cushing, rival in at most of nineteen special the rounds, same class, reports Providence, that R.I. the Maj. expect a bottom of western the Mormons are at at a duel town. on says Gen. Indians Miles killed the Messiah, elec- and it. Three men were Kentucky mountain departday a indebtThomas New York, to have invented ed tion from They in and claimed Henry leaving Harper duplicate large have automat china. a ically the machine edness. which would hand painter ordered on in Arrests for there is a Philadelphia the part of the New York clination on work election are and of divided a frauds crooked on are fugacious politicians. argue that inPoliticians Shrewd reasoners Governor York Hill senatorship. Mr. Cleveland some nor think there a New are be neither could take it, and get it, though chances. has city man may Smith M. Weed's City, W. lievers in M. Nuttmin, of Jersey West Point with Harold been Loris appointed Armstrong, a cadet to of Montclair, N.J., H. Henry as Curtis, The alternate. president of New United Jersey, has pardoned States convicted Hill's army. of military desertion from Judson, the married Governor Nov. 6 to attend- Miss secretary, Col. Lathrop. was The governor the bride was Marion ed the reception. E. watch and His chain. gift The to watch chain is In costly studded the Vermont with diamonds. legislature to pay their of a 96 bill employes to com- 125; pelling weekly bill was corporations exempting by a vote soldiers from epi- the payment also a diphtheria of poll tax. is prevailing O. The in an sus- are demic Black form at Cygnet, business is deaths practically have the ocall closed A and number of are leaving annual report of Maj. Gen. to our place. pended. curred The and many large persons addition coast defense. Schofield fleet the and recommendatteries shore for been taken Cornelius from the Vizcaya to New hard luck. Hargraves wrecks Three of bodies and house have brought (Yonkers) and the suicide York. was The Getty Boston tailor in has received evidently a Perrin H. signed Summer "J. H. Edgar." of the a Speculator remarkable letter B. Price, president of Sedalia, Judge Mo., Col. Thomas Printing companded court. by An t e Gazette was shot and mortally Pitts county shooting. cattle John Higgins, of caused the known p election quarrel Greever, a fatally well wounded ex- at David was H. shot by and Charles Clifford, an man, pugilist Kansas from City San Francisco.


Article from Gloucester County Democrat, January 1, 1891

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IN THE FINANCIAL WORLD. JANUARY. 12. Bank of South Dakota at Madison assigned; assets, $130,000; liabilities not stated; as a result the La Belle Ranch Horse Importing company assigned; liabilities, $00,000; assets, $150,000. 16. L. II. Stone, San Francisco harness dealer, as signed; liabilities, $204,000; assets small. 28. John B. Lalande, cotton factor, assigned in New Orleans: liabilities, $364,000: assets, $544,000. 30. The First National bank, the Lenox Hill bank, and the Equitable bank, all in New York, closed by order of the United States bank examiner; George H. Pell, a broker, and P. J. Claassen, president of the Sixth National, arrested. MARCH. 7. Monroe Eckstein and Leopold Wertheimer, New York brewers, assigned; liabilities, $600,000. Beiloe freres, bankers, San Francisco, failed; liabilities large. 19. John F. Plummer & Co., one of the largest dry goods commission firms in the business, assigned in New York: liabilities, $1,000,000; assets about the same. APRIL. 8. Manhattan bank, of Manhattan, Kan., failed; liabilities, $600,000. 17. Louis Francke & Co., silk importers, assigned in New York; liabilities, $900,000. 30. The Bank of America, a state institution, at Philadelphia. suspended MAY. 1. The Gloucester City National bank at Glouces ter City, N. J., carried under by failure of Bank of America. Fechheimer, Rau & Co., shirt makers, failed in New York; liabilities $350,000; assets, $276,000. 2. The Fidelity, Surety, Trust and Safe Deposit company of Camden, N. J., the Port Morris bank, the Merchants' bank of Atlantic city and the Merchants' bank of Pleasantville, N. J., suspended payment; said to have been caused by failure of Bank of America. 14. The brokerage firm of Doran & Wright, of New York, with branches in the principal cities, suspended for $400,000. JULY. 29. J. E. Tygert & Co., manufacturers of fertilizers, Philadelphia, failed; liabilities, $317,000 AUGUST. 24. Financial panic in Buenos Ayres SEPTEMBER 3. Hixie & Meller, lumber dealers at Ontigo, Wis., failed; liabilities, $518,000. 4. Potter, Lovell & Co., publishers at Boston, sus pended; liabilities, $5,000,000. Sawyer, Wallace & Co., commission mer chants at New York, assigned; liabilities, $1,000,000. 14. Secretary Windom announced that he would buy $16,000,000 4 per cent. bonds and prepay the interest on the 6s in order to relieve financial stringency. OCTOBER 7. Second financial panic at Buenos Ayres. 14. F. H. Hogarty & Co., bankers at Aberdeen, S. Dak., assigned: liabilities, $240,000; assets, $240,000. 80. Isaac L. Falk & Co., New York clothiers, asalamed liabilities enea 000


Article from The Dickinson Press, January 3, 1891

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IN THE FINANCIAL WORLD. JANUARY. 12 Bank of South Dakota at Madison assigned; assets, $150,000; liabilities not stated; as a result the La Belle Ranch Horse Importing company assigned; liabilities. 300,000; assets, $150,000. 16. L. H. Stone, San Francisco harness dealer, as signed: liabilities, $204,000; assets small. 28. John B. Lalande, cotton factor, assigned in New Orleaus: liabilities, $764.000: assets, $514,000. 80. The First National bank, the Lenox Hill bank, and the Equitable bank, all in New York, closed by order of the United States bank examiner; George II. Pell, a broker, and P. J. Claassen, president of the Sixth National, arrested. MARCH. 7. Monroe Eckstein and Leopold Wertheimer, New York brewers, assigned: liabilities, $000,000. Belloe freres, bankers, San Francisco. failed; liabilities large. 19. John F. Plummer & Co., one of the largest dry goods commission firms in the business, assigned in New York; liabilities, $1,00,000; assets about the same. APRIL. 8. Manha:tan bank, of Manhattan, Kan., failed; liabilities, $600,000. 17. Louis Francke & Co., silk importers, assigned in New York; liabilities, $900,000. 30. The Bank of America, a state institution, at Philadelphia. suspended. MAY. 1 The Gloucester City National bank At Glouces. ter City, N.J., carried under by failure of Bank of America. Fechheimer, Rau & Co., shirt makers, failed in


Article from The Jersey City News, September 10, 1891

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GLOUCESTER BANKS. Dissatisfaction At the Manner in Which They are Settling. Special to the Jersey City News. GLOUCESTER CITY, September 10, 1891.It is now pretty generally believed that the depositors in the Gloucester City Savings Institution, the first financial concern which suspended payment in this city, have received all they will ever get. The payments thus far aggregate 67 per cent. of the deposits, and the receiver has not been able to realize sufficient since the last payment to pay an additional dividend of one per cent. There are several suits pending, but what the outcome will be is only a matter of conjecture. A meeting of the depositors of the Gloucester City National Bank was held last night, and great dissatisfaction was expressed over the fact that Receiver Jessup had not paid a second dividend. He stated that he was doing the best he could from the available assets. Committees were appointed to conter with him and the Comptrolier of Currency in their case.