14030. City Bank of Jersey City (Jersey City, NJ)

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 10, 1883
Location: Jersey City, New Jersey (40.728, -74.078)

Metadata

Model: gpt-5-mini
Short Digest: 4315a204

Response Measures

None

Description

The City Bank of Jersey City suspended on Jan 10, 1883. The suspension was caused by internal fraud/embezzlement and mismanagement by the president and cashier (Boice and Shaw). A receiver was appointed and the bank is repeatedly described as 'wrecked' or 'defunct' with suits and receiver actions, indicating permanent closure. Some articles note depositors besieging the banks, but the primary sequence is suspension → receivership/closure due to bank-specific malfeasance.

Events (3)

1. January 10, 1883 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Suspension attributed to systematic robbery, large overdrafts and mismanagement by President Garret S. Boice, Cashier Edward E. Shaw, and bookkeeper Beach; officers appropriated funds and overdrew accounts leading to insolvency.
Newspaper Excerpt: The City Bank of Jersey City suspended. Its capital is $50,000, and its average deposits about $75,000.
Source: newspapers

2. January 11, 1883 Other

Newspaper Excerpt: Both banks are in a state of siege by depositors. The Fifth Ward Savings Bank has also closed its doors in consequence of the failure of the City Bank.
Source: newspapers

3. January 16, 1883 Receivership

Newspaper Excerpt: Washington B. Williams, receiver of the wrecked City Bank of Jersey City, has ... the collapse of the institution was the result of a systematic plan of robbery.
Source: newspapers

Newspaper Articles (20)

1. January 10, 1883 Evening Star Washington, DC

Article from Evening Star, January 10, 1883

Click image to open full size in new tab

Article Text

News Rriefs. The annual sale of Plymouth church pews last evening realized $37,001. The floods in Hungary are increasing. The town of Raob, on the Danube, Is submerged. Two boilers in the blast furnace of Bethlehem Iron company exploded yesterday, killing Ave persons and greatly injuring the property. Henry Clemenston, a Boston wool broker, unexpectedly departed for Europe a week ago, leaving debts amounting to several thousand dollars. The steamship Donan, of the North German Lloyd's company. which arrived at New York Monday evening, had a narrow escape from destruction by fire. The British consul at Philadelphia has received the description or a man seventy-four years old who is wanted in Edinburgh to answer a charge of defrauding a church corporation out of £22,000 by means of forgery. - The city bank of Jersey City has suspended. It 8 capital is $50,000, and its average deposits about $75,000.

2. January 11, 1883 Savannah Morning News Savannah, GA

Article from Savannah Morning News, January 11, 1883

Click image to open full size in new tab

Article Text

Another Broken Bank in Jersey City. NEW YORK, Jan. 10.-The City Bank of Jersey City suspended to-day. Its capital was $50,000 and the average deposits about $75,000. It has no connections in this city, its business being done through the First National Bank of Jersey City. C. N. J. Boice, President of the City Bank, which failed this morning, is Secretary of the Fifth Ward Savings Bank. The latter bank has also closed its doors in consequence of the failure of the City Bank. Both banks are in a state of siege by depositors. A bad feature is suspectea. Boice is sick.

3. January 11, 1883 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN

Article from Memphis Daily Appeal, January 11, 1883

Click image to open full size in new tab

Article Text

A Couple of Broken Banks. NEW YORK, January 10.-The City Bank of Jersey City has suspended. Capital, $50,000; average deposits, $15,000. Mr. Boyce, president of the institution, Shaw, the cashier, and Beach, the book-keeper, confessed to some stockholders yesterday that they had overdrawn their account to the extent of $49,000, 80 that $100,000 of the capital is lost.

4. January 11, 1883 The Daily Gazette Wilmington, DE

Article from The Daily Gazette, January 11, 1883

Click image to open full size in new tab

Article Text

MORNING SUMMARY. Hyatt's jewelry store, at Scranton, was robbed yesterday morning of gold and silver watches and other articles valued at $1,000. The boiler in the tobacco shed of William Zeller, at Newmanstown, Pa., burst on Tuesday afternoon, severely scalding four men. It Is now ascertained that the persons killed at the Bethlehem Iron Co.'s works by the boller explosion, on Tuesday, were three men and one woman. The injured will recover. At Newark, New Jersey, yesterday, the jury in the suit of James P. Duscnhery, administrator of the estate of Cephas M Woodruff, who was 'killed in the railroad disaster at Parkers creek, near Long Branch. last summer, returned a verdict of $25,000 damages. The case will be appealed. The small-pox is reported to be so prevalent in is suspended Shiloh, there, Kentucky, and many that of all the business inhabitants have left. Several physicians have died of the disease, which is malignant in type. The small-pox has appe red in the lumbering shanties of the Upper Ottawa district, in Canada. Many cases are reported. The Colu nbus, Chicago and Indiana Central railroad was sold yesterday in Indianapolis by United States Commissioner Fishback, on a foreclosure of mortgages. It was purchased by a committee representing the Pennsylvania Rallroad Company, for $13,500,000, who deposited with the commissioner $1,000,000 of the mortgage bonds as a guarantee of the good faith of the bidders. Lieutenant Commander Winn, at Key West. reports to the Secretary of the Navy under date of the 5th inst., that there are three vessels, two lumber laden, bottom up, in the Gulf Stream, and directly in the track of vessels nayigating these waters. One was reported about Cape Canaveral, one is to the eastward of Sand Key, and the other is off Marquesas Key. Commander Winn urges that steps be taken to destroy them. The house of Thomas Guchrist, at West Charlton, New York, was robbed last August of $200,000 worth of securities by two masked burglars, who bound and gagged the inmates. After several months the securities were returned, at a New York hotel, by John W. Luke, claiming to be a private detective, for $1,000. At Ballston yesterday, Luke was arraigned on a charge of robbery and, refusing to tell how he had received the stolen property, hé was indicted by the Grand Jury and held in $5,000 bail. The City Bank of Jersey City,a State concern, suspended yesterday. Its capital was $50,000, and its deposits are said to have averaged about $75,000. The failure is attributed to the mismanagement of its Presi. dent, G. 8. Boice, who is also Secretary of the Fifth Ward Savings Bank of the same city. He is reported to be confined to -his house by serious illness. Later in the day the Fifth Ward Savings Bank closed its doors in consequence of the suspension of the City Bank.

5. January 12, 1883 The Dallas Daily Herald Dallas, TX

Article from The Dallas Daily Herald, January 12, 1883

Click image to open full size in new tab

Article Text

SUICIDED FOR LOVE. ERIE, PENN, Jan. 11.-Reid Moore. a young man living near Waterford, this county. entered a ore in that village this morning. bought a revolver, and stepping on the sidewalk shot him-elf through the body. The ball just grazed the heart and produced a fatal wound. Cause, disappointment in love. IN TROUBLE. NEW YORK, Jan. 11.-Garrett L. Boyce, president of the suspended City bank of Jersey City. is held for examination in the sum 01 $10.000. Edward G. Shaw, the treas, urer, it is supposed, has fled. UNINTERESTING MILWAUKEE, Jan. 11 - The message delivered by the governor to the legislature in Madison at noon, contains no comments of particular interest.

6. January 13, 1883 Daily Republican Wilmington, DE

Article from Daily Republican, January 13, 1883

Click image to open full size in new tab

Article Text

The Dishonest Bank Cashier. Edward E. Shaw, cashier of the City Bank of Jersey City, to whose pecur nations its suspension is mainly attributed, was arraigned yeaterday worning. He refused to make any statement and was committed until this morning. eGarret 8. Boice, Presi. dent of the City Bank and Treasurer of the Fifth Ward Savings Bank, is held in $10,000 bail to await the action of the Grand Jury. It is said the City Bank is " a total wreck," and that "almost the entire loss will fall upon the depositors." The Managers of the Fifth Ward Savings Bank have decided to apply for the appointment by the Chancellor of ODO or more of their number to wind up the affairs of the bank or continue its business, as may be seen fit. The managers report the available assera of the bank to be $376,582. This dees'not include the bank's deposit in the City Bank, amounting to $24,639,59, nor the bonds, having a face value of $24,500, which were hypothecated by Boice, both of which, if recovered, will bring the total amount of the assets up to $425,721.88. The total amount due depositors is $420,936.80, leaving a surplas, If both amounts are secured, of $4,785.08. The deposits are the only liabilities.

7. January 13, 1883 National Republican Washington, DC

Article from National Republican, January 13, 1883

Click image to open full size in new tab

Article Text

BUSINESS FAILURES. Mercantile Houses Compelled to SuccumbThe Jersey City Bank Cashier. NEW YORK, Jan. 2.-The business failures of the past seven days as reported to R. G. Dun & Co. of the mercantile agency, number 262, an increase of 38 as compared with last week. The geographical distribution is as follows: Eastern states, 28; western, 77; southern, 60; middle, 42; pacific, 24; Canada, 11; New York city, 20. A large increase in failures in every section of the country is apparent, especially at the west and south. BOSTON, Jan. 12.-The Herald says the Union steamboat company, incorporated under the laws of New Jersey with a capital of $100,000, has failed. It is alleged that the company owes about $12,000 in Boston and a considerable amount in Plymouth. The office furniture, in fact all of the assets in sight, have been attached by the creditors. All but one of the shareholders of the defunct Pacific bank of this city have entered into the combination, which is formed for defense against the contemplated suits of the receiver for aggressive action against the directors. i NEW YORK, Jan. 12.-Cashier Shaw, of the City bank of Jersey city, is still confined at i police headquarters, pending examination to1 morrow. His bail has been fixed at $12,000. A singular feature of the case is the fact that no official of the bank has shown any disposition to prosecute Shaw. The board of directors have to a man denied that they were more than stockholders, but even as such have refused to enter complaint or to take any step toward arraigning him for his alleged offenses. Shaw was arrested on a complaint made upon information and belief by Police Captain Edmunston. Neither he nor Chief of Police Murphy would say what evidence they had against the prisoner, though it was intimated that Receiver Williams would enter a charge of perjury against Shaw for swearing to the monthly statement of the bank dated Jan. 2 when he knew it was false.

8. January 16, 1883 New-York Tribune New York, NY

Article from New-York Tribune, January 16, 1883

Click image to open full size in new tab

Article Text

THE CITY BANK DELIBERATELY ROBBED. PRESIDENT BOICE AND CASHIER SHAW IN JAIL TOGETHER-A BOOKKEEPER ARRESTED. Washington B. Williams, receiver of the wrecked City Bank of Jersey City, has sufficiently advanced in his investigation of its affairs to make it absolutely certain that the collapse of the institution was the result of a systematic plan of robbery. No other language can accurately describe the methods by which the bank's capital, assets and deposits were absorbed and its treasury depleted. Cashier Shaw's statement, published on January 3, represents the amount due depositors to be $60,649 74. This statement is verified by the entries in the general ledger, but when the individual ledger account was examined by the receiver, the total amount of deposits wasfound to be $168,582.90. The only assets that the receiver has been able to find, after a most diligent and careful search, are the $1,200 in cash in the safe, the furniture and fixtures, which are estimated to be worth $500; overdrafts of depositors which can probably be collected, $3,829 83, and the collectable balance of the unpaid capital stook, which is estimated at $25,000, making the total $30,529 83. These figures, which are considered trustworthy, make the deficiency $138,053 € 07. The books show, so far as they have been examined, that of this sum the officers of the bank appropriated $97,648 99, giving as security their unindorsed personal notes, and occasionally their checks. It is expected that & complete examination of the books will demonstrate the fact that the remainder of the deficiency resulted from overdrafts of the bank officers and loans made to tLemselves without security of any kind. The receiver has found that on the very day of the collapse, January 9, President Boice and Cashier Shaw divided all the money in the safe between them, with the exception of $1,200, which they seem to have overlooked in some unaccountable manner. Boice drew $3,312 50 and Shaw $3,512 50, and each put in his check to show where the money had gone. Neither of them had a dollar in the bank to his credit at the time, and there is nothing on the books to show why Shaw should have had $200 more than Boice, The books also show that the statement made a day or two ago by Boice's counsel that his client had never drawn a cent of his salary of $2,000 a year is not true. Boice, Shaw and the other salaried officers of the bank drew their salaries with unfailing regularity; in fact, they sometimes drew a part of it in advance. It is estimated that Boice's overdrafts amount to $60,000, Shaw's to about $30,000, and those of John L. Beach, the bookkeeper, to about $8,000. When any one of them wanted money, he drew a check and Shaw cashed it. Sometimes they discounted their own notes. A note of Boice's for $17,000 and one of Shaw's for

9. January 19, 1883 Wheeling Register Wheeling, WV

Article from Wheeling Register, January 19, 1883

Click image to open full size in new tab

Article Text

TELEGRAPHIC NOTES, Delos Sanders, a farmer near Lagrange, O., was thrown from a wagon and killed. The eleventh annual session of the Board of Steam Navigation met at Cairo, Iil., yesterday. A farmer named Kline, near Oakland, O., was killed by a falling tree. Almer Engert was killed near Cosstown, 0, in the same way. A News special says fire this morning destroyed two-thirds of the business portion of Cisco, Tex. Total loss, $65,000; partially insured. Elihu "Palmer, a printer. of St. Louis, shot his wife, slightly wounding her, and then put a ball into his own brain, mortally wounding himself. Carrington & Baskerville, commission merchants and large dealers in tobacco, of Richmond, Va., failed for $125,000. It is claimed that they will pay 75 cents on the dollar. Receiver Williams, of the City Bank of Jersey City, has commenced suits against Garret S. Boice, Edward E. Shaw and John W. Black for trespass, tho damages in each instance being fixed at $50,000. The smallpox patients under treatment in Baltimore Saturday last numbered 463, out of a population of 400,000. The disease prevails in wards away from the business portion of the city. The disease is new under control.

10. January 19, 1883 New-York Tribune New York, NY

Article from New-York Tribune, January 19, 1883

Click image to open full size in new tab

Article Text

FINDING ONLY BRANDY AND RECEIPTS. A suit was begun yesterday by Washington B. Williams, receiver of the wrecked City Bank of Jersey City, against President Boice, Cashier Shaw and Bookkeeper Beach to recover $50,000 of the amount which they are alleged to have appropriated. When Boice's drawer in the Savings Bank was opened by Examiner Muirheid, it was found to contain nothing but a bottle of brandy and several receipts for pew rent and yacht club dues. George W. Clerthew, chairman of the Depositors' Association, called on Boice in the County Jail with a view of getting some information about the affairs of the City Bank. Boice refused to make any statement without the consent of his counsel. Mr. Beekman, attorney for the Savings Bank, feels assured that when the examiner has completed his work and made a report to the Chancellor, the trnstees of the bank will be permitted to wind up its business. In that case he thinks that the depositors will get their money in full.

11. January 20, 1883 Lexington Weekly Intelligencer Lexington, MO

Article from Lexington Weekly Intelligencer, January 20, 1883

Click image to open full size in new tab

Article Text

The city bank of Jersey City, N. J., has suspended; capital,$50,000 ;average deposits, $75,000. Boyce, president of the bauk, Shaw, the casheir, and Beach, the bookkeeper have confessed to some of the stockholders that they ovordrew their accounts to the extent of $49,000, so that $1,000 of the capital stock is left.

12. January 21, 1883 The Weekly Elko Independent Elko, NV

Article from The Weekly Elko Independent, January 21, 1883

Click image to open full size in new tab

Article Text

SHAW, cashier of the suspended City Bank of Jersey City, is held in jail in default of $20,000 bail.

13. January 21, 1883 New-York Tribune New York, NY

Article from New-York Tribune, January 21, 1883

Click image to open full size in new tab

Article Text

THE WRECKED JERSEY CITY BANK. The summonses were returnable in the Supreine Court in Trenton yesterday in the suits brought by Receiver Williams, of the City Bank of Jersey City, against Garrett 8. Boice, Edward E. Shaw and John N. Beach. The parties entered an appearance, and the trials will take place in twenty days. The suits are for trespass, the damages claimed in each case being $50,000. Counsellor william Murrhead, who was appointed by Chancellor Runyon to examine into the condition of the Fifth Ward Savings Bank, has not yet completed his labors. The deficiency so far as discovered by the examiner amounts to $90,000.

14. January 26, 1883 Barbour County Index Medicine Lodge, KS

Article from Barbour County Index, January 26, 1883

Click image to open full size in new tab

Article Text

# MISCELLANEOUS. A late fire at Des Moines, Iowa, destroyed the Masonic Hall and contents and adjoining buildings. The total loss was estimated at $200,000; about half insured. Shaw, the cashier of the suspended City Bank of Jersey City, N. J., was hellin $10,000 bail, chargel with perjury in swearing to a false statement as to the bank's condition. Charles W. Cook, committed to the New Hampshire State Prison in 1879, for the murder of Susan Hanson, died on the 9th. On the confession of Cook, Joseph Buswell was hanged for hiring Cook to shoot Miss Hanson, after a noted contest before the Supreme Court and the Legislature. Cook left a con-es-ion which admits that he did the shoot ng, and also that he testified falsely concerning Buswell being present when the deed was committed. Edwin Booth's second appearance at Ferlin, was another brilliant success. Crown Prince Frederick William was again present, and joined in frequent and tumultuous applause bestowed upon the actor. State Treasurer Polk, who was taken back to Nashville, Tenn., was indicted by the G and Jury for em ezzlement and larceny of $480,000. The brig Finlee Kirschschlag arrived at Brooklyn recently, having on board six seamen so badly frozen as to necessitate their removal to the hospital. The feet of two or three will be amputated. A man, woman and three children were found a few days since between Kingston and Atlanta, Ga, frozen to death.. During the per ormance lately at a circus in Berdidscheff, Russian Poland, a fire broke out, and before the spectators could esca e the whole structure was ablaze. Three hundred persons perished. R. S. Monroe, who has just completed a term in the Wisconsin Penitentiary for swindling the Appleton Bank on a bogus check, was recently taken to Chicago for trial on the charge of defrauding the First National Bank of that city out of $6,80) on a forged accentance by Beckett & Co., Leeds, England Monroe is one of the most successful confidence operators in the country with as many aliases as days in the year. He has carried on operations in all parts of the country, but chiefly in New York, where he was known as Edwin C. Serviss, and has many other names under which he carried on fraudulent brokerage commission, jewelry and other lines of business. The shipment of $100,000 was made by the sub-treasury in New York, through Wells, Fargo & Co., to the United States fleet on the Pacific, by the steamer City of Para, which arrived at Aspinwall on the 29th ult. The money was all in American gold coin, and was packed in two small kegs weighing in the neighborhood of 200 pounds each. They were rece ved in Panama the same evening and stored in the Panama Railroad Company's vault. The delivery was not made until Monday, the 1st inst., and on openidg the vault it was discovered that one keg was missing, but no clew is had as to who took it. The Illino's Legislature in Joint Convention elected Cullom United States Senator by a vote o 107 to 95 for Palmer, Democrat. The North Carolina Legislature re-elected Senator Ransom. A bill has been introduced into the Pennsylvania Legislature, making it a misdemeanor for the Governor, Lieutenant Governor and members of the Legislature to accept passes from ra.lroad companies. Miss Zerelda Garrison, whose reported abduction recently created such a sensation in St. Louis, has been taken East by her uncle, O. L. Garrison, by the advice of the family physicians, to be placed in an asylum for treatment for nervous diseases. Doctors G. S. Walker and C. W. Stevens published a card in which they state that a full examination of her ment 1 condition showed the young lady to be deficient in the development of her mental faculties to such an extent as to make her irresponsible at times for her actions The House Committee on Public Buildings and Grounds has authorized the expenditure of $12,000 for the purchase of the house in which Lincoln died. The Smithsonian Institution received last year $67,000, and expended $37,000. The Board of Regents recommend that Congress vote $300,000 for a new building in which to properly exhibit the minerals, geological and other collections already on hand and increasing every year. The President will probably send a messame to Congress suggesting cle ical amendments in the Civil Service Reform bili in reference to the employment of the Chief Examiner. Peter Behl of Fon du Lac, Wis., whose daughter died on account of her father's ill treatment, has been arrested on the charge of manslaughter. The complaint is sworn out by Mrs. Behl, who witnessed the scuffle between father an daughter. The prisoner weat to jail in default of $2,000 bail. A Caro (Egypt) dispatch states that a fight occurred between a body of five hundred Egyptian troops and the forces of the False Prophet. Two hundred and forty of the former were killed and the remainder maken a prisoners. Scheller, who was arrested at Milwaukee upon suspicion of burning the Newhall House was recentle removed from the jail in that city, it being leared that the high exe tement of the people might lead to mob violence. When the safe of the hotel was opened the failure to find the register or any other books which would show who were in the hotel the night of the fire caused considerable surprise, and many theories were put forward as to what became of the books. It had been treported and expected that the register and transfer book had been put in the sa e when the fire was discovered, and hundreds of persons all over the country were waiting for the register to be recovered so that it might be known who were the guests of the hotel on the atal night. When the safe was opened, no books or papers to show

15. January 27, 1883 St. Landry Democrat Opelousas, LA

Article from St. Landry Democrat, January 27, 1883

Click image to open full size in new tab

Article Text

GEORGE F. HOAR was re-elected United States senator by the Massachusetts Legislature on the 18th. # CRIMES AND CASUALTIES. FIVE children of a man named Groestick, living at Dubuque, Iowa, were the other day attacked by a disease called laryngael diphtheria, which it was said no medical treatment was able to overcome. Three of the children had died and the other two were not expected to live. A WHOLE family, consisting of a man and wife and three children were found frozen to death in the woods between Kingston and Atlanta, Ga., the other day. The unfortunate family was clothed in rags. ONE boy was killed and another was probably fatally injured by a haystack falling on them at Mansfield, Conn., a few days ago. SHAW, who was Cashier of the suspended City Bank of Jersey City, N. J., being unable to secure $20,000 bail, was recently placed in jail. Other persons implicated were about to be arrested. A MAN in the uniform of a general officer a few days ago penetrated to a room in St. Petersburg, Russia, where secret military plans were kept, and had nearly finished copying one when arrested. A BROKEN rail ditched a train near Mapleson, Ill., the other day. The fireman was killed and the engineer was severely injured. THOMAS HIGGINS and Michael Flynn were hanged at Galway, Ireland, on the 17th for complicity in the Huddys murder. On the 17th indictments had been found by the Washington, D. C., Grand Jury against three persons charged with corruptly endeavoring to influence a star-route juror. MRS. J. HAWK was burned to death at Westerville, O., recently by her clothes taking fire from a cook-stove about which she was working. IN Henry County, O., the other day a timberman named Kline, aged twenty-two, was caught by a tree which he was felling and instantly killed. An entire block of business buildings at McArthur, O., was on the 17th destroyed by fire. A FIRE in Tweddle hall block in Albany, N., Y., which contained an opera-house, a bank, and ten stores, caused a loss of $300,000 a few days ago. Erastus Corning's residence was saved by the determined efforts of citizens. NICHOLAS FELIX, an inmate of a charitable institution at Allegheny City, Pa., commenced last July to starve to death, and completed his labors a few days ago. Small quantities of milk and whisky had been regularly forced down his throat. A TELEGRAM from London, Eng., on the 17th stated that the steam-hip Helvetia, New York to Queenstown, lost her fourth officer overboard. An American bark had two men washed away. The ship Undine had arrived at Colombo, Ceylon, and reported eight of her crew drowned. A BROKEN rail on the Midland Branch of the Chicago & Northwestern Road, twelve miles north of Clinton, Iowa, the other night threw two cars down a twenty-foot enbankment, killing a brakeman and injaring the conductor and nineteen passengers. AT Tralee, Ireland, on the 18th, the local workmen refused to erect a scaffold for the execution of Roff and Barrett, sentenced to be hung for the murder of Thomas Brown. Upon the arrival of Marwood, the executioner, at Limerick, en route to Tralee, the police had great difficulty in protecting him from the crowd. JAMES RYAN, in passing a fly-wheel in the Ætna Mills at Wheeling, W. Va., the other day, had his foot caught in the cogs and his leg was crushed off up to the thigh. He died in a few hours. JOHN KOCH and wife, three days in this country, were missing in New York City a few days ago. They had considerable money when they left the house of a friend. Their three children were with friends. JOHN H. MOORE, Ferry-master, in the employ of the New York Ferry Company at New York City, was arrested a few days ago on a charge of embezzling about $40,000 from the company. Two more bodies were recovered from the ruins of the Newhall House at Milwaukee, Wis., on the 18th, making forty-five who had been recovered from the ruins and sixty-four dead in all. THE village of Marais, Switzerland, was the other day destroyed by a great land slide. THREE persons were killed and several others were badly injured the other day by the explosion of a locomotive at Mansfield, La. It was reported from Seattle, W. T., the other day that seven persons were killed by the explosion of a steamer in the Skagit River. # MISCELLANEOUS. THE United States Consul-General at Shanghai was on the 16th reported as in-

16. February 26, 1883 Sacramento Daily Record-Union Sacramento, CA

Article from Sacramento Daily Record-Union, February 26, 1883

Click image to open full size in new tab

Article Text

# THIS MORNING'S NEWS, In New York Saturday Government bonds were quoted at 119] for 4s of 1907; 1138 for 4½s; 103¾ for 3½s; Sterling, $4 83@4 86; silver bars, 1107. Silver in London, 51d; consols, 102 7-16d; 5 per cent. United States bonds, extended, 106; 4s, 128; 438, 115½. In San Francisco Mexican dollars are quoted at 87@87½ cents. Mining stocks were generally quiet in San Francisco Saturday morning. The street did not buy worth a cent, and prices went off a little in order to make some record of business. There is hardly a stock of any known merit in the whole list. Small-pox is raging in Leadville, Col. Elihu Kearns, shot and killed his brother-in-law, named Owens, at Driftwood, Neb. The first dress rehearsal of the "Passion Play" was suppressed by the police in New York Saturday night, and Salmi Morse arrested. A Roman Catholic bank has failed in Lawrence, Mass., with heavy liabilities. Fanny Driscoll, the poetess, died in Milwaukee, Saturday. A member of the Salvation Army was arrested in Pittston, Pa., Saturday for obstructing the streets. Five inmates of the Western Lunatic Asylum, at Staunton, Va., were found dead Saturday, having tampered with the medicine. The steamship Glamorgan, from Liverpool for New York, has been wrecked, and many lives lost. A gang of convicts, at Helena, Ark., disarmed the guard, killing Major James Grant, and escaped. An infant was suffocated in a burning building at Providence, R. I., Saturday. A threat is made in Moscow to blow up the Kremlin, where the Czar is to be crowned. Sara Bernhardt's husband has quit the theater and joined the army. The French Chamber of Deputies has passed a vote of confidence in the Government. The funeral of the two remaining victims of the school disaster in New York took place Saturday. The officials of the wrecked City Bank of Jersey City were taken to the State Prison Saturday. A woman saturated her clothing with oil in Ottawa, Ont., and burned herself to death. John P. Dimond was shot and killed at Bakersfield, Kern county, Saturday night, by Samuel Gregory. William Hitchcock was struck on the head by a falling timber near Nevada City, and died soon after. Merritt Webster, a pioneer, dropped dead near Woodland Saturday. An important arrest has been made in Merced county, in connection with the recent cattle-stealing operations in that vicinity. Three miners were killed in a snowslide last week near North Park, Col. The St. Petersburg Golos has been suspended for six monthe. W. S. Crawford, the well-known English turfman, is dead. By an explosion in a colliery near Mount Carmel, Pa., three miners were horribly burned. The Catholic church and parsonage at Riviere du Loup, Quebec, has been destroyed by fire. Conrad Lehman was found dead in the road near Los Angeles yesterday. The old Malley cotton mills at North Adams, Mass., were destroyed by fire yesterday. A daughter was born to the Duchess of Albany at Windsor Castle yesterday. It is proposed to erect a colossal monument in Washington to the memory of Martin Luther. Six business houses and their contents were burned yesterday in Washington, Ia. The Prince of Wales has arrived at Berlin. Ex-Judge J. M. Cloud died of apoplexy yesterday near Charlotte, N. C. W. H. Fritz attempted to kill his wife and a man of whom he was jealous, in San Francisco yesterday, and then shot himself. W. L. Bolte committed suicide in San Francisco last evening. The Senate on Saturday again reversed its decision in regard to the confirmation of appointments of Regents of the State University. The Assembly worked on the county government bill.

17. August 15, 1883 Watertown Republican Watertown, WI

Article from Watertown Republican, August 15, 1883

Click image to open full size in new tab

Article Text

SUING BANK STOCKHOLDERS. The suits brought by Receiver Williams against the stockholders of the City Bank of Jersey City, for wrecking which Boice and Shaw are now performing hard labor at Trenton, should produce a serious condition of mind among the holders of stock in other banks. In national banks and in most state banks shareholders are liable for an amount equal to the par of their shares, and the Jersey City stockholders against whom two suits have been begun will doubtless be made to suffer severely for their negligence in permitting a pair of rogues to have entire control of their bank. Receiver Williams demands 50 per cent. of the amount of their shares to make up the deficiency due depositors, and the second suit is to recover deposits which they received after the bank became insolvent. Their punishment will perhaps impress upon other holders of bank stock a sense of the responsibility which such possession involves. It will be strange if a vast number of discreet persons who have an interest in banks do not insist upon the employment of ex-

18. August 16, 1883 Turner County Herald Hurley, SD

Article from Turner County Herald, August 16, 1883

Click image to open full size in new tab

Article Text

SUING BANK STOCKHOLDERS. The suits brought by Receiver Williams against the st ockholders of the City Bank of Jersey City, for wrecking which Boice and Shaw are now performing hard labor at Trenton, should produce a serious condition of mind among the holders of stock in other banks. In national banks and in most state banks sharebolders are liable for an amount equal to the par of their shares, and the Jersey City stockholders against whom two suits have been begun will doubtless be made to suffer severely for their negligence in permitting a pair of rogues to have entire control of their bank. Receiver Williams demands 50 per cent. of the amount of their shares to make up the deficiency due depositors, and the second suit is to recover deposits which they received after the bank became insolvent. Their punishment will perhaps impress upon other holders of bank stock a sense of the responsibility which such possession involves. It will be strange if R vast number of discreet per-

19. September 16, 1883 New-York Tribune New York, NY

Article from New-York Tribune, September 16, 1883

Click image to open full size in new tab

Article Text

enarge grand larceny. They were accused of having stolen a steer from a drove which- was being driven from the abattoir to Hoboken. Martin admitted having the steer in bis possession, and he and Dorgan were committed for trial. Heffeman was discharged. Leon Abbett went to Newark vesterday to argue a case before Vice-Chancellor Van Fleet. He appeared as the Corporation Counsel of Jersey City in the matter of the Central Railroad Company's bridge at Communipaw-ave. In repairing it the company raised the bridge three feet above the grade of the avenue. Jersey City obtained an injunction stopping the work on the bridge, and the case came up yesterday on a motion to continue the injunction. The Vice-Chancellor dissolved it. The defendant was represented by Vice-Chancellor Williamson. The failure of the City Bank of Jersey City was recalled yesterday by a trial of a suit in the Hudson County Circuit Court. The suit was brought by Washington B. Williams, receiver of the bank, to recover $4,000 on a note alleged to have been made by William H. Jasper, a former resident of Bayonne, but who now lives in New-York. The note purported to have been made by Mr. Jasper, and had his indorsement on the back, together with a memorandum, as follows: "Oct. 2, '82. Received interest on within note to Oct. 4, 1882, sixty dollars. E. E. Shaw, cashier." Mr. Jasper swore that his signature to the note and the indorsement were both forgeries, and witnesses who were familiar with his signature corroborated his statement. The case was decided in favor of the defendant. NEW IDV

20. June 19, 1884 New-York Tribune New York, NY

Article from New-York Tribune, June 19, 1884

Click image to open full size in new tab

Article Text

THE CASE OF THE JERSEY CITY BANK. LIABILITY OF THE STOCKHOLDERS DEFINED 'BY THE CHANCELLOR OF NEW-JERSEY. [BY TELEGRAPH TO THE TRIBUNE.| TRENTON, June 18.-In the suit of Washington B. Williams, receiver of the defunct City Bank of Jersey City, against the stockholders of that bank, to recover amounts received by them as dividends from January 9, 1883, until the failure of the bank, such dividends having been paid while the bank was insolvent. Herbert R. Clarke, Charles H. Murray, Daniel T. Moore, Henry M. Traphagen, Henry Traphagen and Myles Tierney, of the stockholders, filed a demurrer, alleging that the directors, and not the stockholders, were the parties liable; that the creditors, in whose behalf suit was brought, did not become such until after the fraud. ulent dividends were declared, and that for a half dozen other reasons of a technical nature, the suit could not be maintained. In his opinion, filed this morning, overruling the demurrer, the Chancellor, says: "The stockholder who has received part of the capital by way of dividend without legislative authority has no right to it as against the creditors of the corporation, and no wrong is none him, if he be compelled to repay it, when it is required to pay the debts of the corporation. He, or those from or under whom he derives his title to his stock, placed that money in the treasury of the corporation to answer for its debts, if necessary, and it was devoted to that object 80 long as it might be required for the purpose. If he withdraws or receives it back again, except where the amount of the stock is reducted according to law, it will in his hands be subject to that trust-the trust for the payment of the debts of the corporation-if needed for that purpose. 'The capital of a corporation is a fund pledged for the payment of its debts. Each person who gives credit to it does so in the confidence that that fund exists for his protection and security against loss. If the stockholders secretly withdraw it under the false pretence of dividends or profits, when there are none, it is obvious that as great a wrong may be done to future creditors as to existing ones. In either case the stockholders hold a part of that fund which is pledged to the payment of the creditors. The injury to the existing creditor is obvious; that to the future creditor is the same."