14066. Provident Institution For Savings (Jersey City, NJ)

Bank Information

Episode Type
Run Only
Bank Type
savings bank
Start Date
May 12, 1882
Location
Jersey City, New Jersey (40.728, -74.078)

Metadata

Model
gpt-5-mini
Short Digest
335b3faf

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Books examined

Description

Treasurer Edmund W. (Edmund/Edward in some reports) Kingsland shot himself on May 12, 1882; officials declared funds intact but a run began. Bank met demands, examined securities, declined outside advance, reopened and run ceased. Chose 'state' as charter type because it's a savings institution without 'National' or 'Trust' in name. No suspension or receivership reported.

Events (1)

1. May 12, 1882 Run
Cause
Bank Specific Adverse Info
Cause Details
Attempted suicide of the treasurer Edmund W. Kingsland (shot himself in the bank), which alarmed depositors and triggered withdrawals.
Measures
Officers examined securities for call loans; officials publicly stated funds intact; declined offered loan from Second National; paid out demands promptly; reopened next day to receive deposits.
Newspaper Excerpt
The officials believe the funds of the institution intact, and made a public statement to that effect, but a run has begun on the bank, which is surrounded by anxious depositors.
Source
newspapers

Newspaper Articles (10)

Article from Seattle Daily Post-Intelligencer, May 13, 1882

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E AS T E R N. ASSOCIATED PRESS DISPATCHES A Very Marsh Measure. New York, May 12.-The World says J.and W. Seligman & Co. have been by eable that Gen. Ignatieff inunded presenting to the Czar a bill to perfocate all property of Jews in Rus * The ander of the telegram urged that the American Government be begint to use its good offices to prevent the of the decree. End of the Calteau Argumenth. WARINGTON, 12.-Davidge med his arguments in the Guiteau case. would be monstrous to assert that the heed of the nation could be murdered at Marry seat of Government, because he - to die elsewhere, the sover of this great nation should be powerlows. It is now the duty of this Court to declare in plain and unmistakNatural the meaning of the statutes wh United States, and indicate the undersignity of this nation, reposed in ank keeping. The Guiteau court adjourned after Devidge had finished and Reed had authort closing speech. An Aretic Trip spelled. CHICADO, May 12.-It is reported that Dennett has already under consideration the plans for another Arotic expedition, which he was cogitating when the news - of the finding? of DeLong and party dead. It is understood that in statience to public sentiment Bennett will abandon it, unless there should ap poder to be reasonable grounds for marching for the remains of Lieutenant Chipp and party. The contemplated expedition was to be on a much grander male than that of the Jeannette's, and was be under the combined direction of the army and navy officers. Naval offers were to be supreme on board the vessel, while army officers were to head the sledge expeditions in conjunotion with others. A Telegraphic Scheme. A Boston special says that Hon. Bard says that when he retires from the custom house he will embark in a comparty soon to be organized to build and operate a telegraph line between New York and Chicago. the wire to be of steel. with copper covering, and quarfor of an inch in diameter. Did Nothing Yesterday. NEW YORK, May 12. Shepherd d appear today, and the Congressional Committee adjourned. Time Set. CHICAGO, May 12.-The Republican State Convention will meet on June 98th, New Albany. Don't Talk of Bad Weather Mere. The heavy and continuous rains of the past few days have wrought great destruction along the valleys of White and Mescatian rivers. The entire country in valleys of these rivers is inundated. and farmers in Jackson, Lawrence and Martin counties are heavy losers. Fifteen miles of track of the Bedford railroad are washed out, and fencing has been carried away and in come places entire crops have been destroyed. A Liquer Bill. WASHINGTON, May 2.-The Senate Finance Committee took action on the bonded spirits bill, by referring it to Morrill and Bayard, as a b-committee, to prepare a substitute which will not permit the indefinite retention of spirits in bond, but provide for a maximum bonded period of about five years. The substitute also provides that bonds shall be given for the full amount of tax, and will extend the proposed benefit to spirits taken from proof, such as apple or grape brandy. A Town Blown Away. ATCHISON f(Kan.) May 12.-A special days that news has been received of cyclone at Cherokee City by which two persons were killed and thirteen others wounded. Cherokee is small watering place on the Territorial line, south of Marysville, and was entirely demolished, losing four houses. Effect of a Shooting. NEW YORK, May E-md W. Kingsland, Treasurer of the Provident Institution for Savings of Jersey City, shot himself this morning by accident design in the trustees room of the bank. The officials believe the fundsof the institution intact, and made a publie statement to that effect, but a run began on the bank, which is surrounded by anxious depositors. Kingsland's condition is critical. The run on the bank continues, and assumes the feature of a panic. The president and cleck examined securities for call loans deposited at the Mercantile Trust, and report all correct. To be Heard Again. Shipherd will testify again before the committee in Washington next week. Too Much Water. CHICAGO, May 12.-Ball games and races in the West generally have been prevented by rains today. O.R. stock. New York, May 2-Oregon Railway and Navigation Company's stock quoted at 1381. Another Cyclone. HEREVEPORT, I'a., May direatrous syclone swept over this part of the country this morning. Houses, forests end plantations in its track were swept away or destroyed. Everything on the plantation owned by Mrs. c. Leroy was shoptaway. One man and two children were killed and many dangeropaly wounded. Near Arcadia many houses www.destroyed. A large number of eatthe were killed. A now building in course of construction was blown down. A number of workmen were buried in


Article from The Cheyenne Daily Leader, May 13, 1882

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SHOT HIMSELF. An Officer of a New Jersey Bank Did It. The Deed Followed by a Serious Run Upon the Savings Institution. More High Winds and Fearful Cyclones Doing Great Damage. A Bank Officer Shoots Himself. New York, May 12.-Edmund W. Kingsland, treasurer of the Provident institution for savings at Jersey City, shot himself this morning, either by accident or design, in the trustees room of the bank. The officers believe the funds of the institution intact and made a public statement to that effect, but a run has begun on the bank, which is surrounded by anxious depositors. Kingsland is trustee for a large number of estates in Jersey City and vicinity. There are over 13,000 accounts, and the total amount due depositors is over $5,000,000; assets, $5,791,833, consisting of bonds and mortgages, $3,000,000, U. S. bonds $2,000,000, cash on hand in bank, $1,500,000, call loans $385,000. A later dispatch says: Kingland's condition is critical. The run on the bank continues and assuines the features of a panic. The president and clerk have examined the securities for the call loans, deposited at the Mercantile trust, and report all correct.


Article from The Wheeling Daily Intelligencer, May 13, 1882

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HE IT: 1 The Treasurer of an Extensive Savings Bank Shoots Himself, NEW Yonx, May 12-Edward W. Kingsland, treasurer of the Provident institution for savings, Jersey City, shot himself this morning, by accident or design, in the trustee's room of the bank. The officials believe the funds of the institution intact, and have made a public statement to that effect, but a run has begun on the bank, which is surrounded by anxious depasitors. Mr. Kingsland is trustee for a large num. ber of estates in Jersey City and vicinity. The wound is not considered mortal. There are over 13,000 accounts, and the total due depositors is more than $5,000,000. The assets are $6,791,832. consisting of bonds and mortgages, $3,000,000; United States bonds, $2,000,000; cash on hand and in banks, $150,000; call loans, $385,000. Kingland's condition is critical. The run on the bank continues and has assumed the features of a panic. The president and clerk examined the securities for call loans deposited at the Mercantile trust and report all correct. LATEI--The trustees of the bank have made a careful examination of the securities and found everything intact. There is due the depositors about $5,300,000. The bank has a surplus of about $400,000. It was decided to open the bank to-morrow and receive deposits as usual.


Article from Wheeling Register, May 13, 1882

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RUN ON A BANK. The Treasurer Shoots Himself. NEW YORK, May 12.-Edmund W. Kingsland, treasurer of the Provident Institution for Savings, of Jersey City, shot him. self, this morning, by accident or design. in the trustees' office of the bank. The officials believe the funds of the institution are in tact, and have made a public statement to that eflect. but a run has been made on the bank which is surrounded by anxious depositors. Kingsland is trustee for a large number of estates in Jersey City and vieinity. The wound is not considered mortal. There are over thirteen thousand accounts and the total amount due depositors is more than five millions. Assets $517,918.33, consisting of bonds and mortgages, and three millions United States bonds, and $150,000 call loans. Kingsland's condition is critical. The run on the bank continues and has assumed the features of a panic. The President and certabayer examined the securities for call toans deposited at the mercantile trust, and report all correct.


Article from The Semi-Weekly Miner, May 13, 1882

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More Bank Trouble in Jersey City. NEW YORK, May 12.-Edmund W. Kingsland, treasurer of the Provident Institution for Saving set Jersey City, shot himself this morning by occident or design in the trustee's room of the bank. The officials believe the funds of the institution intact, and made public. statement to that effect, but is run has begun on the bank, which is surrounded by anxious depositors. Kingsland is trustee for large numbers in the States and in Jersey City and vicinity. The wound is not considered mortal. There are 1,500 accounts, and a total due the depositors of more than Assets, 85,791 833, consisting of bonds and mortgages yo,U.S. bonds cash on hand in bank call loans $185,(NN). etc. Kingsland's condition is critical. The run on the bank continues to assume the features of a paric. The President and Clerk examined the securities for call loans deposited at the Mercantile Trust, and report all correct.


Article from Evening Star, May 13, 1882

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The Jersey Savings Bank Shooting. JERSEY CITY, N. J., May 13.-Edmund W. Kingsland, the secretary and treasurer of the Provident Institution for Savings, who attempted suicide yesterday by shooting himself in the head, in the bank building on Washington street, passed a very comfortable night and awoke greatly refreshed this morning. His physician says that unless inflammation of the brain sets in, it is almost certain that he will recover, though his age and diseased condition are much against him. The officials of the Second National bank informed Andrew Clerk, president of the savings bank, that they would loan him $65,000 in current funds on ten minutes notice, should he need it. The run was recommenced this morning but has greatly abated and is expected to cease to-day.


Article from New-York Tribune, May 14, 1882

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LOCAL MISCELLANY. MR. KINGSLAND BETTER. Edmund W. Kingsland, treasurer of the Provident Institution for Savings in Jersey City, who shot himself on Friday morning, is still alive. He 18 by no means out of danger, as inflammation may set in at any time: if it does, it will be almost certain to result in death. He retained consciousness all day yesterday, and was able to take some slight nourishment. He was also able to talk, but showed no inclination to speak of the shooting, and his physicians would not permit him to be questioned on the subject. The improvement in his condition during the day and evening gave rise to strong hopes that he will survive. The run on the bank continued yesterday, but as on Friday every demand was promptly met. and many when they found their money ready for them went away without drawing it. The people who are drawing their deposits are among the least intelligent of the community, people to whom a bank statement is like sanscrit and who are only anxious to have their money through fear that something might be wrong. One anxious depositor remained all Friday night in the neighborhood of the bank, SO as to be there in time in the morning. Two others from Philadelphia came on in the midnight train, and were at the bank soon after daylight. The amount paid out up to 3 o'clock yesterday afternoon was $115,655.34. and about 220 accounts were closed up. The bank was reopened again in the evening to accommodate all who might come. William Hogencamp, president of the Second National Bank, called at the bank about noon and proffered whatever financial assistance might be needed. His offer was declined with thanks, the bank being in possession of ample funds. It has $2,000,000 in Government bonds alone, which can be converted into cash without delay. The officers of the bank are pleased that 80 many of the accounts are being closed, as they had a large surplus fund on hand, on which they were paying interest. and for which they could find no profitable investment. The bank will be opened to-morrow as usual.


Article from Savannah Morning News, May 17, 1882

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The Condition of E. W. Klagsland. JERSEY CITY, May 16.-Mr. Edmund W. Kingsland, Treasurer of the Provident Institution for Savings, who attempted suicide last Friday, is to-day reported steadily improving, although there are fears that he will lose the sight of both eyes. The run on the bank, has ceased and has resulted largely to the advantage of the bank in forfeited interests.


Article from The Daily Dispatch, May 17, 1882

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Effects of a Run on a Bank. JERSEY CITY, N. J., May 16.-Edmund W. Kingsland, treasurer of the Provident Institution for Savings, who attempted suicide last Friday, is to-day reported to be steadily improving, although there are fears that he will lose the sight of both eyes. The run on the bank has ceased. It has resulted largely to the advantage of the bank in forfeited interest.


Article from The Weekly Elko Independent, May 21, 1882

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EDMUND W. KINGSLAND, Treasurer of the Provident Institution for Savings, Jersey City, shot himself yesterday morning, by accident or design, in the trustees' room of the bank. The officinis believe the funds of the institution intact, and made n public statement to that effect, but a run has commenced on the bank, which is surrounded by anxious depositors.