14008. Hamilton Bank (New York, NY)

Bank Information

Episode Type
Suspension โ†’ Reopening
Bank Type
state
Start Date
November 1, 1910*
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini
Short Digest
81f0341ae7e9d2a6

Response Measures

None

Description

Articles describe the Hamilton Bank in New York being placed in the hands of a temporary receiver (an adverse meeting to appoint a receiver is described) and later permitted to reopen (telegram: 'Temporary receiver discharged. Bank permitted to reopen'). There is no clear description of a depositor run or heavy withdrawals in these excerpts โ€” the coverage focuses on meetings to appoint a receiver, hired 'friendly' depositors to defeat the receiver motion, and the eventual discharge of the temporary receiver and reopening. Dates in the Tribune excerpt reference Oct.โ€“Nov. and a telegram reading 'December 26' but the newspaper metadata (Dec 9, 1911) makes the exact year of those internal dates ambiguous; to avoid inventing specifics, event dates are given with month/day where supported and year set conservatively when implied. Article 1 (Feb 23, 1911) notes the president, William R. Montgomery, was president of the 'failed Hamilton bank' and was later sentenced for grand larceny, supporting that the bank had severe troubles leading to suspension but the Tribune piece documents a reopening.

Events (3)

1. November 1, 1910* Suspension
Cause
Government Action
Cause Details
Adverse interests called a meeting to appoint a receiver; a temporary receiver had been appointed (later discharged).
Newspaper Excerpt
meeting had been called by adverse interests to appoint a receiver.
Source
newspapers
2. December 26, 1910 Reopening
Newspaper Excerpt
Injunetion vacated. Temporary receiver discharged. Bank permitted to reopen.
Source
newspapers
3. February 23, 1911 Other
Newspaper Excerpt
William R. Montgomery, president of the failed Hamilton bank in New York was sentenced to a term of not less than two years or more than five years in Sing Sing for grand larceny through fraudulent loans of $4,400
Source
newspapers

Newspaper Articles (2)

Article from Omaha Daily Bee, February 23, 1911

Click image to open full size in new tab

Article Text

Culled from the Wire. Marconi's patent covering the tuning of both transmitters and receivers used in wireless telegraphy was sustained by the British courts. The president has nominated the Rev. Alexander P. Landry and the Rev. Edward F. Broppy, both of New York to be chaplains in the army. The California senate passed a bill preventing diversion of the waters of the state into other states by canals, tunnels or similar means. An administration bill that provides for the control of all public utilities by a state board to be appointed by the governor was passed in the Kansas senate. Little hope was offered for the recovery of Bishop J. A. Forest. head of the San Antonio Roman Catholic diocese. He is suffering from kidney trouble. William R. Montgomery, president of the failed Hamilton bank in New York was sentenced to a term of not less than two years or more than five years in Sing Sing for grand larceny through fraudulent loans of $4,400


Article from New-York Tribune, December 9, 1911

Click image to open full size in new tab

Article Text

Here are some of the services which Mulligan says he and his wife rendered, and for which he asks $20,000: October 25--Promised $20,000 for services of Mr. Mulligan and Mrs. Mulligan in assisting in reopening the bank William R. Montgomery. president of the bank, so agreed in writing. October 31-Conferred with W. R. Montgomery respecting adverse meeting to be held at Amsterdam avenue and 145th street. Visited hall to get size thereof. Conferred with depositors and W. R. Montgomery to formulate plans to stampede the meeting and prevent resolutions for the appointment of a receiver. Time-Day and into the night. November 1-Arranged to have friendly depositors attend the meeting and arranged for speakers. Mrs. Mulligan instructed an interpreter foreman (Italian) that he might drill seventy-five men under him to shout and hurrah for Montgomery for the purpose of attending to stampeding the meeting. which meeting had been called by adverse interests to appoint a receiver. November 2-Arranged for speakers and employed seventy-five persons to attend and stampede the meeting. Rehearsed and drilled gang of men and provided seventyfive men with refreshments and elgars and also paid each man for his services. Paid American foreman and Italian foreman. Conferred with representatives of the press as to news articles. Attended meeting and made speech. Hall was crowded with multitude John P. Leo and Charles H. Tuttle were apparently in charge of the meeting Multitude almost riotous and threatened to mob Mr. and Mrs. Mulligan because of the disturbance in their efforts to prevent the resolution going through and because of the loud cries of their followers, the seventy-five men hired by them. Mrs. Mulligan Turned Tide. Quiet was obtained actually until Mrs. Mulligan's speech was made. wherein she stated that she had never made a public speech before, but that she felt the occa. sion required and permitted her to leave a nursing baby at home to face the awful rainstorm that prevailed that night Mrs. Mulligan stated that she represented as executrix orphan children who had moneys in the Hamilton Bank, and that Mr. Mulligan had money in the Twelfth Ward Bank, which was then closed: how could shoes be bought, how could fires be kept and how could orphans be fed for the winter that was then before us if the Hamilton Bank was permitted to go into the hands of a receiver? Mrs. Mulligan's speech turned the tide and won the day. The motion for a permanent receiver was lost. November 8-Mr. Mulligan talked to depositors and Mrs. Mulligan talked to depositors. One of the group she was addressing attempted to discourage the other agreeand depositors ment) the officers from used of the signing abusive bank (a compelling language proposed about Mrs. Mulligan to forcibly eject such intruder and compel him to flee down the street. December 26-Telegram from James A. Betts to Mrs. Mulligan reading: "Injunetion vacated. Temporary receiver discharged. Bank permitted to reopen.' Upon receipt of this telegram hung original, framed in laurel, in the Tremont branch of the Hamilton Bank Hung a copy. with laurel wreath, in main office room in each of the branches.