14007. Hamilton Bank (New York, NY)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
state
Start Date
October 23, 1907
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini
Short Digest
bd5a0a4b9120c310

Response Measures

None

Description

Articles describe a multi-day depositor run during the Panic of 1907, suspension of payments (notice posted and suspension announced Oct. 23, 1907), temporary receivership, and later court action permitting reopening and plans to resume business (Dec 1907–Jan 1908). Classification as a state bank is based on absence of National/Trust in name and repeated involvement of the State Banking Department and state superintendent. Dates taken from article reports; do not invent specifics beyond those reported.

Events (6)
1. October 23, 1907 Receivership
Newspaper Excerpt
Frank White was appointed temporary receiver by Judge Betts at Kingston, upon the application of Attorney-General Jackson. Officers and some of the shareholders of the bank contended that the institution should be allowed to continue. In deciding upon the motion to make the receivership permanent Judge Betts ruled in their favor by discharging the receiver (Dec. 27).
Source
newspapers
2. October 23, 1907 Run
Cause
Macro News
Cause Details
Run occurred during the nationwide Panic of 1907 and contemporaneous runs on other New York institutions (Trust Company of America etc.), producing heavy withdrawals.
Measures
Bank and its committee proposed staged partial cash payments and certificates of deposit (10% cash, remainder in timed certificates) to secure assent for resumption.
Newspaper Excerpt
the Hamilton Bank ... suspended after a run lasting for three days, in which 40 per cent of the total deposits of the institution was withdrawn.
Source
newspapers
3. October 23, 1907 Suspension
Cause
Macro News
Cause Details
Suspension followed heavy withdrawals during the Panic of 1907 and loss of depositor confidence driven by the broader financial crisis and runs on other institutions.
Newspaper Excerpt
At 9 o'clock this morning it was announced that the Hamilton bank ... had decided to suspend payment pending the complete restoration of public confidence. A notice posted on the doors of the bank this morning announced that the bank was solvent but in justice to depositors payment had been suspended until public confidence in banking institutions was restored.
Source
newspapers
4. November 5, 1907 Other
Newspaper Excerpt
President Montgomery received a large number of assents to the plan by which the bank hopes soon to resume business... assents required from its seventeen thousand depositors; otherwise receiver necessary.
Source
newspapers
5. January 1, 1908 Reopening
Newspaper Excerpt
the Hamilton Bank ... which is to resume business to-morrow (Jan. 1, 1908).
Source
newspapers
6. January 16, 1908 Other
Newspaper Excerpt
Special grand jury finds cause for charge of overwithdrawal. William R. Montgomery indicted on overdraft/indictment charges related to transactions while an officer of the Hamilton Bank.
Source
newspapers

Newspaper Articles (21)
1. October 24, 1907 The News-Democrat Providence, RI
Article from The News-Democrat, October 24, 1907

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REASSURING DEVELOPMENTS. All the over-night developments in the financial situation were reassuring. The series of conferences last night, participated in by Secretary Cortelyou, J. Pierpont Morgan, John A. Stewart, James Stillman and other representative bankers and men of affairs, resulted in an agreement in the opinion that the banking situation is well in hand and that with the government deposits to be made by Secretary Cortelyou today there will not only be enough cash on hand but even more than might be needed to meet safely any emergency. The run on the Trust Company of America was continued this morning. As early as 6 o'clock a little knot of persons had gathered in front of the company's main banking house in Wall street and by 8 o'clock their number had been augmented until about 150 were in line. At the company's branch at Broadway and AnD street, formerly the Colonial Trust company, there were 50 or 75 persons in line at 8 o'clock. As is always the case in time of financial excitement, New York bankers and brokers were at their desks early this morning waiting for the London quotations on American stocks. MORE BANKS QUIT. At 9 o'clock this morning it was announced that the Hamilton bank which has its place of business in 125th street, had decided to suspend payment pending the complete restoration of public confidence. A notice posted on the doors of the bank this. morning announced that the bank was solvent but in justice to depositors payment had been suspended until public confidence in banking institutions was restored. E. R. Thomas, who was associated with F. Augustus Heinze and Charles W. Morse in several banks and financial ventures was formerly president of the Hamilton bank, but resigned after the break in United Copper stock which marker the beginning of the recent financial troubles in this city. Orlando, F. Thomas, a brother of E. R. Thomas, also recently resigned as a director and William M. Montgomery was elected president. The bank has a capital stock of $200,000 and deposits of about $7,000,000. The bank has four branches in New York city. The Hamilton bank is not one of the large institutions in the city. Its location in Harlem gave it quite a good neighborhood business, but it never was in any way a representative New York bank. The directors of the Trust Company of America went into session at 9:30 this morning. Those present were Oakleigh Thorne, W. K. Vanderbilt, Jr., John E. Bourne. W. A. Chesebrough, Marsden J. Perry and George R. Sheldon. The directors had been in session but a few minutes when Mr. Thorne, president of the company, left, the board room long enough to say to the crowd waiting to withdraw money, that the Trust Company of America was prepared to meet ati demands and was entirely solvent. Following the announcement of the suspension of the Hamilton bank came the news that the Twelfth Ward bank. Incated at 135th street and Lexington avenue, had suspended payment. The Twelfth Ward bank is a state institution, and a state bank examiner will be placed in charge of its affairs. According to

2. October 24, 1907 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, October 24, 1907

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Today's Telegraphic News. Excitement in the Market. New York, Oct. 24 - Wh the London market strongand a general advance of from 1 to 3 points recorded In the entire list, it was anticipated that the market here would open stronger, although the big brokers are taking no chances and are prepared, as on yesterday, to support the market. The run on the Trust Company of America will continue today, but the officials claim they have money enough in the value to ensure the payment of all claims made. The line of depositors formed very early today at the main office of the company and its two branches and had increased 80 that it encroached upon the street. Associated trust companies declare they will extend all needed aid to the concern. A run is impending on the Lincoln Trust at 208 Fifth avenue. At 9:30 a crowd of depositors had gathered in front of the doors aud had been forced to form a line by the police reserves who had been summoned. The officers of the concern announce they will open the doors as usual at 10 o'clock and are prepared to meet all demands. New York, Oct, 24.-The Twelfth Ward Bank and the Hamilton Bank, both small institutions, suspended this morning. The Twelf h Ward has a paid up capital of $200,000. The surplus and profits are estimated at $221 680. There are due to banks $165,590; individual deposits $3,000,000 and loans and discounts about $2,400.000 The Hamilton Bank has a paid up capital of $200,000; surplus and profi 8 of $282,270; individual deposits of $7,000,000; loans and discounts $4,662,840. A notice has been posted on the door stating that the bank is solvent. New York, Oct. 24.-The Empire City Savings Bank at 231 W. 125:h street is the first to take advantage of the State law, compelling depositors to give sixty days' notice before their accounts can be withdrawn. Two hundred thousand dollars was deposited at the sub-treasury today for immediate transfer to St. Louis. All interest in the stock exchange is centered in the loan crowd. The First National Bank loaned $2,000,000 at 50 per cent. but there has since been no other reply. Many loans bave been called in all over the street and the collateral sold because of inability of borrowers to respond to these calls. A large part of the selling was this liquidation of loars, but there was also renewed attacks by bear operators that helped force prices down to the lowest level reached 80 far today. The prices of many stocks in the late forenoon reached the lowest point touched in years. The declines 80 far were not sensational, but were disastrous because they continued the downward movement already so long in progress.

3. October 30, 1907 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, October 30, 1907

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LARGE IMPORTS Of Gold From Europe Are Expected to Help Financial Situation. New York, Oct. 29.-Great assistance in relieving the financial stringency is expected to result from the large engagements of gold for import made yesterday and from the further large imports which it is believed will De made within the next few weeks. The movement of American crops to E:1ropean markets. together with the revival of a demand for copper abroad will give the United States large credits with foreign bankers, and these can be availed of in bringing in gold. it is confidently beleved to the fullest extent that may be necessary. It was announced today that several of the banks. which were compelled to suspend last week. have about perfected their plans to re-open for business. President Montgomery of the Hamilton Bank, a Harlem institution. which closed last week. said today. "This bank will resume business in a few days. not later than Monday next in any event. I understand also that the Twelfth Ward Bank will resume in a few days"

4. October 31, 1907 New-York Tribune New York, NY
Article from New-York Tribune, October 31, 1907

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HAMILTON BANK'S PLAN. Proposition for Resumption of Business Sent to Depositors. After a meeting of a committee representing the stockholders and depositors of the Hamilton Bank, which suspended on October 23, held last night at the offices of the institution at No. 215 West 125th street, a plan was announced which, in the opinion of the committee, will enable the bank to resume business if approved by the depositors and stockholders. The Hamilton Bank suspended after a run lasting for three days, in which 40 per cent of the total deposits of the institution was withdrawn. A committee was chosen from among the stockholders and depositors to work out a plan for resuming business. The committee consisted of W. A. Martin, a real estate dealer; Add Reisenberg, of H. C. F. Koch & Co., and George F. Brown, of the firm of Duff & Brown. At the meeting of this committee a circular letter was prepared, to be sent to the 17,000 depositors, in which the plan for rehabilitating the bank was set forth. The plan is to be submitted to the depositors for their approval. In the opinion of the committee the refusal of the acceptance of this plan would probably mean that the bank would have to be liquidated. The plan, in brief, follows: Depositors in the bank shall on presentation of their passbooks receive on account of their deposits 10 per cent in cash and 15 per cent in certificates of deposit, payable ninety days from the date on which the bank shall resume, and 15 per cent in a certificate of deposit. payable in six months from the date of resumption. The balance, 60 per cent, shall be a certificate of deposit, payable one year from the date of such resumption. The certificates of deposit are to become payable, as above stated. whenever in the judgment of the officers of the bank the business will permit. The bank will accept said certificates for loans made or anticipate their payment. As soon as such number of depositors and such amount of deposits shall have assented to the plan as will, in the judgment of the committee, warrant the resumption of business on the part of said bank. the committee is to have the right to declare the plan operative and therefore becoming binding upon all depositors assenting to said plan, but the same shall not be binding in case the bank should go into liquidation. The committee is confident that the bank is solvent and its captal is unimpaired. William R. Montgomery, president of the bank, is a member of the committee on resumption of business,

5. November 1, 1907 Greene County Herald Leakesville, MS
Article from Greene County Herald, November 1, 1907

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Cortelyou Helps. Secretary Cortelyou deposits $25,Q00,000 in New York banks. Hamilton bank, with deposits of $7,000,000, suspends payment, claiming solvency. Twelfth Ward bank, with deposits of $3,000,000, suspends payment. Empire City Savings bank, with deposits of $2,300,000, suspends for 30 days, under banking laws. Run continues on Tust Company of America. Run continues on Dollar Savings bank. Pittsburg receives $5,000,000 from government to aid in meeting payrolls, if necessary. Pittsburg exchange- remains closed.

6. November 5, 1907 New-York Tribune New York, NY
Article from New-York Tribune, November 5, 1907

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HAMILTON GETS MANY ASSENTS. President Montgomery Thinks Bank Will Soon Open Its Doors. William R. Montgomery, president of the Hamiton Bank, received yesterday a large number of assents to the plan by which the bank hopes soon to resume business. This plan provides that depositors shall receive 10 per cent when the bank reopens, 25 per cent in thirty days, 25 per cent in sixty days, 25 per cent in ninety days, and the remaining 15 per cent in one year. Speaking of the situation last night, Mr. Montgomery said: "I believe that we shall open our doors by the and of the week. There are, however, some skeptical persons who have consulted lawyers as to the plans, and who have been advised not to sign the. agreement, on the ground that the bank will open its doors within g short time. + nis, however, is not the case. The Hamilton Bank will not open its doors until assents have been received from its seventeen thousand depositors. If we do not receive the assents the bank must go into the hands of a receiver. "I do not believe, however, that a receiver will be necessary, for to-day we have received many assents, and from indications word from all of the depositors will be at the bank in two or three days. "When we have received the assents the matter will be placed immediately in the hands of State Superintendent Williams, and he will, I know, grant permission to open the doors. He has, together with the Clearing House, approved of the plans."

7. November 19, 1907 New-York Tribune New York, NY
Article from New-York Tribune, November 19, 1907

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LIFE IN HAMILTON BANK Montgomery Wins Over Hostile Depositors-Plan to Reopen. President Montgomery of the Hamilton Bank, now in the hands of a receiver, appeared unexpectedly at a meeting of two thousand depositors last night at Calvary Methodist Episcopal Church, 127th street and Seventh avenue. His entrance was marked by hisses, groans and other evidences of hostility, but before he had finished speaking he had turned the tide of anger, and his utterances were greeted with shouts of approval. After he had reviewed the recent troublous history of the bank, which he said was closed by a run, "not by the small depositors, but by the wealthy depositors down in Wall Street, who had been tipped off to start the run." he asked those present if they wanted the bank given a chance to resume with $1,500,000, which had been promised from outside sources. A storm of approving cheers was the reply. There was a general denunciation of "political receivers," and then a vote of confidence and support was given to Mr. Montgomery with a roar that lasted for several seconds. A motion to denounce the Attorney General for his action was seconded by a score of voices. Only the emphatic statement of the chairman. Charles Blandy, of Blandy, Mooney & Shipman, that such action would be decidedly injudicious, prevented a vote being taken on this proposition. After it was all over forms of assent to a certificate of deposit plan were passed out by the thousands, and it was voted to call a meeting of depositors in the neighborhood of every branch to obtain the assents necessary to a resumption of business and to assure united action in opposing a permanent receivership and in bringing about a resumption of business. Mr. Montgomery said that he did not wish to become president of the Hamilton, but consented to accept the place, and as a condition to giving up the presidency E. R. Thomas had demanded that some one assume, for him, an obligation of $55,000. He added that he had assumed this obligation, although he could not afford to do so. He then said that after the Hamilton Bank had closed its doors he had gone to William A. Nash, president of the Corn Exchange Bank and a member of the Clearing House committee, in his latter capacity and had offered to give him, without any consideration, 660 shares of Hamilton Bank stock, all that he, Montgomery, had any control of, if he would but see to it that the doors of the bank were opened. The speaker denied the statement made yesterday by Frank T. White, temporary receiver, that no feasible plan had been presented to the State Banking Superintendent or the Attorney General with regard to the proposition to reopen the doors. Mr. Montgomery said last night regarding Mr. White's statement: "As to the remark which was made as to usurious loans, if it were true, Mr. White couldn't have said anything that would have done more to suggest to people that they decline to pay their obligations to the Hamilton Bank As to what are called usurious loans, many were to corporations to which the laws relating to usury do not apply. All that we ask Frank T. White is to keep his mouth closed until November 30, when we will go before the court with the names of those who are willing to help us out and put up $1,500,000. Frank White, ex-Deputy Attorney General, appointed temporary receiver of the Hamilton Bank last Saturday. said yesterday he had learned that usurious loans had been made by the Hamilton Bank He said the subject would receive prompt attention. He added that officially he had not been informed of anything that would warrant criminal proceedings. Speaking of the protest by the president of the bank against the appointment of a receiver, Mr. White said: 'From the date on which the bank closed its doors President Montgomery and James A. Gifford, counsel for the institution, have been, with others. urging that the appointment of a recelver be deferred, and promising that they would present some plan for rehabilitation. Superintendent Williams of the State Banking Department granted them time." Deputy Attorney General De Ford, when asked yesterday if the affairs of the Hamilton Bank would be brought to the attention of the grand jury, replied that the investigation being conducted by the Attorney General's office into the bank's affairs had not been concluded, and that until it was finished no definite steps would be taken. He added that all the closed banks were being Investigated to ascertain to what extent the officials were responsible for their suspension.

8. December 7, 1907 The News-Democrat Providence, RI
Article from The News-Democrat, December 7, 1907

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HEINZES GOT LOANS FROM FAILED BANK New York, Dec. 7.-Attorney General Jackson said that Frank White, temporary receiver of the Hamilton bank, had informed him that, after an examination of the suspended bank's books, he had found a condition of affairs which he thought should be reported. Mrs. White told the attorney general that the Hamilton bank's loan book showed loans of $80,000 to F. Augustus Heinze, one of the institution's directors; and $100,000 to Otto Heinze, a brother of F. Augustus Heinze. Mr. White informed the attorney general that he had not been able to find that the loans to the Heinzes were made with the consent of a majority of the board of directors, as required by the statute.

9. December 10, 1907 New-York Tribune New York, NY
Article from New-York Tribune, December 10, 1907

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Frank W. Kinsman, jr., a director or the Dank, had no personal account with it, but the F. W. Kinsman, jr., Company, of which he is an officer, the report says, withdrew on October 23, the last day of business, $1,578 51, leaving $378 22 on deposit. In marked contrast to the action of other directors was that of Adolph Riesenberg, who, according to the receiver, had still $1,069 65 on deposit, and has it there still, not having withdrawn a cent. Besides the Thomases and Mr. Heinze, the following directors are declared liable to the Hamilton Bank as makers, indorsers or guarantors of notes in the following sums: Martin D. Fink, $11,000; David A. Sullivan, $125,000; George F. Brown. $2,000. The Fink liability is now due and unpaid. The F. W. Kinsman, jr., "Company was liable to the bank on its note for $5,136 85, and Frank W. Kinsman. jr., was an indorser of this note. Mr. White draws attention to the statement that some of the directors practically withdrew their entire accounts when it must have been apparent that the bank was in a precarious condition, and also points out that these heavy withdrawals were made despite the fact that the Fame directors. or at least some of them, were liable to the bank for large amounts on discounted notes. Mr. Montgomery testified before the State Superintendent of Banks that the Hamilton Bank received a commission on real estate transactions. He explained that the borrower was forced to borrow the whole amount and then place it in a collateral account, paying "6 per cent on the whole business." If the borrower was a corporation the charge was, made straight for the commission on the loan. The amount charged is according to the loan, although the bank always tried to get 5 per cent. "If the borrower was an individual," the testi"fied, "that money is paid to Parker & Aaron, and they take out their charge and pass the balance to the bank, which is deducted from the amount of the loan." Mr. White then incorporates in his report Mr. Montgomery's testimony in regard to "the

10. December 13, 1907 Evening Star Washington, DC
Article from Evening Star, December 13, 1907

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J CKSON'S PLAINT TO JEROME. Crimes in Two Banks and Insurance Company. NEW YORK. December 13.-Attorney General Jackson sent to District Attorney Jerome yesterday three communications in which he announced that the investigations into the condition of the Hamilton Bank. the International Trust Company and the Excelsior Fire Insurance Company showed violations of the penal code. He suggested the necessity for action on the part of the district attorney. He incloses the report of Frank White, temporary receiver of the Hamilton Bank, and savs that it "sets forth certain overdrafts made by William R. Montgomery, the vice president and a director of said bank at the time thereof. Said transactions appear to constitute a violation of the penal code." Of the Excelsior Fire Insurance Company he says: "Your attention is called to the fact that by papers, proceedings and documents now on file in the office of the superintendent of insurance of this state the crime of perjury and perhaps other criminal offenses appear to have been committed in the organization of the Excelsior Fire Insurance Company of New York and that some at least of these offenses were committed within the county of New York in or about the month of August last." Of the International Trust Company Attorney General Jackson wrote: "There is in the possession of the state banking department and of Mr. Goodwin Brown, the temporary receiver. evidence which in my judgment should be submitted to the grand jury of this county, indicating, as it does. acts of a criminal nature on the part of an officer or officers of the said company in connection with its organization and management." It is understood that now that complaint has been made to him the district attorney will start the usual inquiry. It is not his intention to take these cases before the special January grand jury unless the evidence is in shape.

11. December 13, 1907 New-York Tribune New York, NY
Article from New-York Tribune, December 13, 1907

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JACKSON PRODS JEROME. Points at Excelsior, International Trust and Hamilton Bank. Attorney General Jackson gave out copies yesterday of communications which were sent by him to District Attorney Jerome, recommending action with regard to persons implicated in the affairs of the International Trust Company, the Excelsior Fire Insurance Company and the Hamilton Bank. The Attorney General says in one letter that "perjury and perhaps other criminal offences appear to have been committed in the organization of the Excelsior Fire Insurance Company of New York, and that some at least of these offences were committed within the county of New York in or about the month of August last." In relation to the International Trust Company, he says that there is in the possession of the State Banking Department and of Mr. Goodwin Brown, the temporary receiver, evidence which should be submitted to the grand jury, "indicating, as it does, acts of a criminal nature on the part of an officer or officers of the said company in connection with its organisation and management." He calls attention also to the alleged overdrafts made by William R. Montgomery on the Hamliton Bank, as indicated by the report of Frank White. the temporary receiver. These transactions, he says, appear to him to be in violation of the Penal Code. District Attorney Jerome said yesterday that he had received the letters from Attorney General Jackson. In the possible contingency of District Attorney Jerome's refusal or failure to act, the Attorney General refused to state positively what action he would take. "I have told Jerome," he said, "of the existing conditions and the evidence of wrongdoing in my possession. This evidence is based, it is true, on a report of a temporary receiver. I have heard that Jerome belittles the report because It is the report of a temporary receiver; but, as a temporary receivership may be made permanent, I do not see how that affects the case." William R. Montgomery, the president of the Hamilton Bank, made light last night of Attorney General Jackson's action. Mr. Montgomery stoutly denied that there had been any irregularities in his dealings with the bank and intimated that Attorney General Jackson was trying to make capital at his expense. Mr. Montgomery also denied the recently published report that he had drawn his balance in the Hamilton Bank down to a few dollars before the institution closed its doors. He said he had several hundred dollars in the bank when it suspended, which was the balance he usually kept there for checking purposes. Mr. Montgomery left the city last night for Kingston, where he will oppose this morning at a hearing the motion to make the present temporary receivership of the bank permanent. Mr. Montgomery has over 81 per cent of the assents of depositors to the plan for reopening, and strong downtown banking interests have agreed to take over the bank and put up $1,500,000 in cash. The presidents of several Clearing House institutions have agreed to enter the directorate of the bank and a banker of wide reputation will take the presidency, which Mr. Montgomery purposes to relinquish as soon as the bank has been placed on its feet.

12. December 27, 1907 The Evening Star and Newark Advertiser Newark, NJ
Article from The Evening Star and Newark Advertiser, December 27, 1907

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BANK MAY REOPEN. Court Discharges Hamilton's Temporary Receiver. NEW YORK, Dec. 27.-The Hamilton Bank, which suspended during the recent panic, may now reopen for business, according to the decision of Justice Betts. Frank White was appointed temporoary receiver by Judge Betts at Kingston, upon the application of Attorney-General Jackson. Officers and some of the shareholders of the bank contended that the institution should be allowed to continue. In deciding upon the motion to make the receivership permanent Judge Betts ruled in their favor by discharging the receiver. A thousand depositors in the Tremont branch of the bank gathered at the bank last night and later, led by a band and carrying flags, marched a half mile to the home of President William R. Montgomery, in Anthony avenue. Surrounding the home they shouted and cheered until the head of the Hamilton appeared on the stoop and addressed them. In addressing the depositors, Mr. Montgomery said: "I do not owe the Hamilton Bank a dollar. and I have never owed the bank a dollar. I never kept my business account in the Hamilton Bank."

13. December 27, 1907 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, December 27, 1907

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NEW YORK BANK RESERVES Hamilton Bank Permitted to Reopen for Business: Kingston, N. Y., Dec. 26.-Supreme Court Justice Betts this afternoon rendered a decision permitting the Hamilton bank of New York City, now in the hands of a receiver, to reopen. The Hamilton bank, after paying out during the panic $1,500,000, closed its

14. January 1, 1908 New-York Tribune New York, NY
Article from New-York Tribune, January 1, 1908

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MAY HEAD HAMILTON. Brother of Ex-Judge Parker Has Offer of Bank Presidency. As the result of a meeting of the depositors' committee of the Hamilton Bank held yesterday at the Astor House It is probable that Frederick H. Parker, brother of ex-Judge Alton B. Parker, will be elected president of the institution, to succeed William R. Montgomery. This committee, representing about eighteen thousand depositors of the Hamilton Bank. which is to resume business to-morrow, decided to seek the co-operation of the Carnegie Trust Company directors in obtaining the election of Mr. Parker, who is secretary of the trust company. A sub-committee visited the offices of the Carnegie Trust Company yesterday, and it is understood that they received a promise of assistance in effecting the reorganization. Earlier in the day the committee of sixty held a meeting in The Bronx, whence they adjourned to the Astor House. The sub-committee appointed to confer with the directors of the Carnegie Trust Company consisted of Joseph I. Berry, president of the Department of Parks in The Bronx; William G. Mulligan. James Reilly, Julius Haas and William H. Birkmire: Charles C. Dickinson, of the Carnegie Trust Company, received the committee and returned with it to the meeting at the Astor House. Mr. Dickinson said that although the trust company would suffer a great loss if Mr. Parker was elected president of the Hamilton Bank, he and his associates would do everything in their power to assist the depositors. When the desire of the committee was made known to Mr. Parker he said that he would give no answer until a meeting of the Hamilton Bank directors had been held. If they favored him for the presidency, he said, he would probably accept and do everything in his power to make the bank a successful institution. In the case of Mr. Parker's election it is considered probable that William R. Montgomery, the present incumbent, will be elected vice-president. The Carnegie Trust Company is one of the institutions that has agreed to make up a fund of $1,000,000 with which to assist the Hamilton Bank in the resumption of its business. This money was obtained through the efforts of exJudge Parker, who appeared for the depositors of the Hamilton Bank before Justice Betts, of the Supreme Court, at Kingston, N. Y., and argued successfully for the dissolution of the receivership. There will be another hearing before Justice Betts to-morrow, at which the fees for the temporary receiver and the counsel fees will be settled.

15. January 13, 1908 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, January 13, 1908

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Bank Declared Solvent. New York, Jan. 13.-President Frank L. Grant, of the suspended Hamilton Bank, was informed today by the State Banking Department that it has been found solvent. It was stated today the baok will probably be permitted to resome on January 20.

16. January 16, 1908 New-York Tribune New York, NY
Article from New-York Tribune, January 16, 1908

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HAMILTON BANK ARREST INDICTS MONTGOMERY. Special Grand Jury Finds Cause for Charge of Overwithdrawal. R. Montgomery, ex-president on of two the Hamilton William Bank, was indicted jury. yesterday The charges counts by the special grand that, while vice-president. the bank made he against made him two are overdrafts on the funds of caused indictment of Mr. Montgomery followed the The surprise to those who have it closed, on some the Hamilton Bank since of a reeffairs of and went into the hands speOctober 24, iti was known that the celver. for jury while was engaged in investigating affairs, it cial grand phases of the institution's than certain generally believed that other persons would be was ex-president of the Institution Montgomery himthe the bar. In fact, Mr. that him. called self testified to on Tuesday before the body District indicted bank official was at the Howard S The former office with his counsel. presented Attorney's when the indictments appeared were before Gans, him. and soon after of the against Dowling, in the Criminal Branch not guilty. Supreme Justice Court, where he pleaded $2,500 bail on each Justice Dowling held him in H. Birkmire, an counts. William director of of the two at No. 396 Broadway a bondsman. architect, Bank, qualified as Montgomery the Hamilton against Mr. The indictment consisting of him with a misdemeanor $21,000. made on charges overdrafts, one of made September alleged 6. 1907, and another, of $12,950, on October 29. Ham D. Ives. vice-president of the the inFrederick Bank, said yesterday in discussing "The overfiton dictment against Mr. Montgomery: were satisfied made by Mr. Montgomery Bank nothdrafts and he owes the Hamilton merely techby him. overdrafts are considered laws." ing. The violations of the banking nical before the court Mr. Montgomery he de In pleading to withdraw the plea, clerks if ap sired, jury grand obtained within leave a week. Several bank yesterday peared investigation before the special into the affairs of the at Ham- least, The was brought about, partly receiver of fiton Bank of Frank White, the Jackson. in by the institution, report to Attorney General alleged the called attention to certain William which he The report involved O. F. overwithdrawals. Montgomery and also E. R. Thomas, three lat R. and F Augustus Heinze, the official Thomas been forced to sever their Heinze ter having the bank F. Augustus grand relations with indicted by the federal has since connection been with alleged overcertification Na. jury in while president of the Mercantile the time of checks Bank. Mr. Montgomery said public: at tional report was made I and the receiver's never overdrawn my account cent I have owed the Hamilton Bank Attorney a have never directly or indirectly. I defy else the to prove either Frank White or any one my account General have I did not overdraw falseand that any I statements to that effect are absolutely false!" the WHAT RECEIVER REPORTED. Hamilton figures of the receiver of directors during The amounts drawn cut by balances Bank of prior to its closing and their Montgomthe week institution showed that Mr. balance ery-had with the drawn $1,518.67 which left a to his credit of $7 11. further reached the conclusion of The receiver examination of the individual Bank ledger that from an branch of the Hamilten account as the Mr. Tremont Montgomery had overdrawn his much as $34,261 23 indictments The specific charges in the two that on August Mr Montgomery were had it ceragainst a check for $12,950 and Strassburger 29 he drew made payable to B. L amount tified and No. 51 Maiden Lane the of a jeweller at $12,950. constituting an overdraft drew a of Dr. $12,869.77 In question and that on September L. C 6 Warner he for check to the order balance in the bank at the $21,000. when the his check was only $5,918.22. and time he drew days later, when the check had was only prethat sented three to and paid by the bank he $134.72 to his checks. credit it was said yesterday. It were was These two of the Hamilton Bank stock that for shares in the District Attorney's office Willalso said was acting for President Brooklyn Mr. Montgomery Damron, of the Home Bank of Code lam C. punishment provided by the Penal MontgomThe offence charged against Mr. $300. or ary for the is one year in prison or fine of both As Mr. Montgomery is no indictment longer an will official have of the Hamilton on the plans Bank for his the reopening of few the no institution effect and its several branches in a days less than three weeks ago that several the hun- man indicted It is yesterday was honored by which he depositors of the institution of Montgomery dred then the executive head. Mr. depositors was rendered yeoman service to the bank rehad in its effort to have the Justice committee When the news came that granted opened. had discharged the receiver and business Betts for the bank to resume brass band permission hundred depositors hired a Montgomery. several marched to the home of Mr. sereand at No. 1857 Anthony avenue, where they naded him. STATEMENT BY COUNSEL w. Osborne and Howard S. Gans. who James as counsel for Mr. Montgomery they issued are associated a statement last night, in which paid in part: was The fact that attention such of overdrafts the authorities the existed informa by Mr called himself, and but for in all probMontgomery he had offered. would From the tion which never have been discovered Montgomery's ability, the investigation Mr. Attorney's outset of offered to the District possession, and counsel have the information in their means whereby office all then access to every matter. The have given could be thrown on the to avail any light Attorney's office was unwilling indictments District the information, and the must of neitself of all founded, as indictments presentation have cessity been be founded, upon a partial of The the indictments facts. against Mr. violations Montgomery of are the based upon purely There technical are two charges. the made first being S Strassburger banking the law. overdraft in the case of a check The over- of payable to one B. of the negligence draft occurred by reason of the bank who was instructed of the to get the check of one purchase A. The check van. of the employes stock WBR of given the instead Hamilton for the David of Bank. getting Sulli- The Mr of some ager in the bank presented the check of Avot

17. January 25, 1908 The L'anse Sentinel L'anse, MI
Article from The L'anse Sentinel, January 25, 1908

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BRIEF REVIEW OF A WEEK'S EVENTS RECORD OF THE MOST IMPOR. TANT HAPPENINGS IN ITEMIZED FORM. HOME AND FOREIGN NEWS Information Gathered from All Quarters of the Civilized World and Prepared for the Perusal of the Busy Man. Over 165 persons were killed and many injured at Boyertown, The Pa., the opera house burned. of a moving explosion when picture were tank started a wild panic; oil lamps upblew up and the floor collapsed. victims were mostly and belonged to the set children The and women leading and families of the town. The special grand jury which was of sworn in to investigate the conduct rebanks in New York county two indictments certain turned president against of Wil- the liam R. Montgomery. Hamilton bank. A serious earthquake occurred at Gonalves, Hayti. A few houses were and others were damaged. of life has been destroyed No loss reported At their annual meeting in Detroit the Lumber Carriers' Association of the Great Lakes decided that it would be impossible to operate their boats during the coming season at the same expense and under the same condi- is tions as prevailed during 1907. It predicted that there will be a great labor struggle. The Maple-Leaf mills at Kenora, Ont., were destroyed by fire. The elevator, in which was stored over 300.000 bushels of wheat, was also de- instroyed. The loss was $1,000,000; sured. Oil-producing firms at St. Petersburg of received news from the Caucasus the opening of a mammoth oil gusher in the Bibi-Eybat field at Baku, flowing at the rate of 120,000 barrels a day. Farmers in Stanley county. South Dakota, were plowing during the first week in January. The coroner's jury practically exonerated the coal mining company for W. the great disaster at Monongah, Va. Edward Henry Strobel, general adviser of the government of Slam, died after a long illness. The body of Lieut. John W. Crawford, private secretary to Admiral Dewey, was found in the Potomac. The prince regent of Bavaria, who pardoned two to declared his tenced recently death, death murderers-sen warrants. intention not to sign any more of the American were breakfasted ship The fleet officers and by battle- Presi later dent Penna at Petropolis attended a garden party at the American embassy It was positively asserted that Sec would he was virtually retary though Cortelyou Knickerbocker not offered resign Trust the presidency of the company. John S. Peters, one of the jurymen who found R. Meade Shumway guilty of at Beatrice, the penalty, murder death committed drowned Neb., suicide. affixing while Five persons were skating in the Jimtown reservoir, near Connellsville, Pa hall. the girls' dormitory at Oxford, O., was Miami Hepburn university, destroyed by fire. E. D. Scott, cashier, and Roy W. bookkeeper of the Peo- N. bank of ple's Van National Hoesen, Franklinville, with Y., were arrested, charged viola- to the revised statutes relating a of false to the the tion making of statements controller. of greatest bank's Denmark's condition modern poet, Drachmann, died Holger sixty-first suddenly year at of Copenhagen, in the his age. Prof. Charles Baetens, for many years solo cellist in the Thomas or chestra, committed suicide in Omaha, Neb. The City National bank of Muskogee, Okla., purchased by Dr. J. L. Johnson the of St. Louis, was merged with First National. The Bank of Commerce will go into liquidation, its business having been sold to the Oklahoma State bank. Frank Nunno, a wealthy young banker, was found murdered near Ardsley, N. Y. William B. Thompson of De in his troit, Mayor Mich., annual that message, the city calls attention to the fact to deal with the street railquestion that "no new of year way will have and franchise urges in leases another of a !ife be given except on the basis three-cent fare.' General Freight Agent W. E. Estes the Central of Georgia railway was shot by his Ga. The was ac. of perhaps Savannah, fatally shooting wife at cidental. Peter Rasmussen of St. Charles, in., committed suicide because of do mestic and financial troubles. the Rebbi Bernhard Felsenthal, oldeut Jewish theologian in the Unirecognized as the world's Hebrew scholar, ten days cago ted greatest States, after of died illness. in Chi- the He was most widely known as founder of the 'reform' movement ama ag Chicago Jews.

18. March 19, 1908 Daily Capital Journal Salem, OR
Article from Daily Capital Journal, March 19, 1908

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# NEW YORK OFFICIAL ACCUSED New York, March 19. -Attorney-General William Schuyler Jackson has been accused under oath of having demanded that Frank White, as receiver of the Hamilton bank, should share equally with him the aggregate of the fees and commissions earned by Mr. White, while acting in that capacity. The assertion was sworn to by Mr. White, when he was forced to appear as an unwilling witness before the grand jury. This is regarded as one of the most serious accusations yet lodged against the attorney-general's administration. It is understood that White's fees and emoluments amounted to about $1000, and, according to his testimony, after the matter had been adjusted, Jackson called on him in his office, and insisted that White should divide the sum with him.

19. March 20, 1908 The Billings Gazette Billings, MT
Article from The Billings Gazette, March 20, 1908

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attorney general under Attorney General Jackson and appointed by the latter as temporary receiver for the Hamilton bank, October 23 last, and Joseph Ford, formerly private secretary to Mr. Jackson and later receiver for the Mechanics & Traders' bank, were before the grand jury today. Both were questioned by District Attorney Jerome. As to what questions were put to the two men Mr. Jerome, Mr. White and Mr. Ford were equally reticent.

20. March 24, 1908 The Washington Herald Washington, DC
Article from The Washington Herald, March 24, 1908

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# JACKSON FACES GRAND JURY New York's Attorney General Refuses to Talk About It. Expects to Be Vindicated, He Tells Reporters, but Considers the Time Has Not Come. New York, March 23.-Attorney General Jackson spent nearly two hours with the grand jury this afternoon at the Criminal Courts Building. Jackson's appearance was a result of the invitation sent to him last week by Foreman Muschenheimer after Frank White, Jackson's former deputy and receiver of the Hamilton Bank, had sworn before the grand jury that Mr. Jackson had asked for half his receiver's fees. Assistant District Attorneys Smyth and Perkins went into the grand jury room as soon as the jurors had assembled. There was only one absentee. Jackson was then informed the grand jury was ready to hear him, and he went in. The impression had been that the grand jury would not take long with Jackson, as there were a number of other cases waiting to go on. But he remained with the grand jury the entire afternoon. Both Perkins and Smyth left the grand jury room after the grand jury had been in session about an hour. Jackson was alone with the grand jury the rest of the time. It was nearly 4 o'clock when Jackson came out and made for the elevator. He told the reporters he thought it would be quite out of place for him to discuss what had happened, even to telling whether or not he had been under oath. Some one asked the attorney general if he did not desire to be vindicated before the public, in view of White's charges. "I expect to be in time, but this is hardly the place for it," he said, "unless the reporters are a jury." The grand jury was discharged for the day by Judge Foster without making any statement regarding the matter. It is still the impression that some statement regarding the matter will be made some time this week to Judge Foster, who is in charge of the March grand jury.

21. April 8, 1908 Daily Press Newport News, VA
Article from Daily Press, April 8, 1908

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# What New York Attorney General and Receiver White Said. # LAWYER WAS EXCITED BY A HINT State Law Officer Denies Emphatically That His Remark Was Construable Into a Demand for Half Mr. White's $12,500 Allowance. Case. ALBANY, N. Y., April 7.-The presentment of the grand jury of New York County relative to matters affecting the attorney-general of the state, which was filed with Justice Foster in New York last week, with the request that it be submitted to the executive and legislative branches of the state government, with a copy of the testimony given before the grand jury, was read in the assembly and senate tonight. The presentment, already made public, said that the attorney-general appeared before the grand jury, and that there appeared to be a conflict in testimony with regard to the subject of the inquiry. The "conflict of testimony" according to the minutes of the grand jury, appears to relate entirely to an allegation by ex-Deputy Attorney-General Frank White, who was receiver of the Hamilton Bank of New York, that in conversation with Attorney-General Jackson an allusion was made to a possible division of fees which White received as receiver. White's Story of the Talk. In his testimony Mr. White said that his fee as receiver was $12,500, and that after the receipt of the fee, or after its allowance, he had a conversation with Attorney-General Jackson, and he declared: "I think Mr. Jackson said that those were pretty decent allowances, or some equivalent expression." "I said." Mr. White continued, "I don't think it is extraordinary for a man who has been in the habit of getting pretty decent fees from other people, and particularly from lawyers, who come in consultation. 'Well,' he said. 'I think it would be all right for $6,250 of this to go to the other man,' or to the other party,' or something of that kind. And I said, "That is preposterous. I won't entertain any proposition of that kind. This allowance is mine; it was made by the court, and I intend to keep it.' And I got very much excited. There was a great deal said after that, but that was the substance." Mr. White testified, according to the minutes read tonight, that the attorney-general told him that he would regret his attitude. White told the grand jury that he was so excited in his conversation that he did not "want to hear who the other man was." Jackson Contradicts White. Attorney-General Jackson made a sworn contradiction of White's testimony before the grand jury, declaring: "I have never, in reference to these receiverships, agreed to receive, asked, demanded, or expected to receive one penny from anybody concerned, for myself or for anybody else, and any language included in any purported or alleged conversation with Mr. White that has for its construction anything else is false." Attorney-General Jackson said in his statement before the grand jury that he felt he could straighten things out immediately if he was permitted to cross-examine Mr. White upon the witness stand. The attorney-general testified that he had a conversation in which Mr. White complained about the size of his receivership fee, and that he told White that he ought to be satisfied, as his fee was much too large. White, the attorney-general said, seemed to be apprehensive that he would be asked for some of his fees. Attorney-General Jackson, in this connection, testified: "I asked him: "Why, you don't think that I want any of your fees?" and he said something to the effect, 'Well, I don't know.' "I got angry at that, and we had some sharp words, and he left the office and I haven't seen him since."