14125. Bank of New Brunswick (New Brunswick, NJ)

Bank Information

Episode Type
Run → Suspension → Unsure
Bank Type
state
Start Date
September 6, 1884
Location
New Brunswick, New Jersey (40.486, -74.452)

Metadata

Model
gpt-5-mini
Short Digest
06bffed0

Response Measures

Full suspension, Books examined

Other: Large embezzlement/theft by cashier and suicide of president precipitated panic and suspension.

Description

Newspapers report heavy crowds and panic after discovery of large embezzlement/deficit (cashier Hill) and the president Runyon's suicide; the bank stopped payment (suspended) on the Saturday reported. Articles describe runs/men rushing the bank and a discovered deficit > $1,000,000. No clear report in the provided excerpts that the bank later reopened or was placed in receivership, so outcome is unsure.

Events (2)
1. September 6, 1884 Run
Cause
Bank Specific Adverse Info
Cause Details
Discovery of a deficit/embezzlement (cashier Hill alleged to have stolen over $1,000,000) and the president Runyon's suicide; news provoked crowds and panic withdrawals.
Measures
Bank suspended payments (stopped payment); acting cashier and police intervened.
Newspaper Excerpt
The city is wild; men rush frantics to the doors of the National only to be told that the busiof this institution is suspended... town is wild; men rush frantics to the doors
Source
newspapers
2. September 6, 1884 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank stopped payment after examiner discovered a deficit of over $1,000,000 tied to theft/mismanagement by the cashier; president Runyon committed suicide amid the scandal.
Newspaper Excerpt
The bank at New Brunswick, N. J., stopped payment Saturday.
Source
newspapers

Newspaper Articles (2)
1. September 8, 1884 Sacramento Daily Record-Union Sacramento, CA
Article from Sacramento Daily Record-Union, September 8, 1884

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Article Text

THIS MORNING'S NEWS. In New York Saturday Government bonds were quoted at 120 for 4s of 1907; 111½ for 41/28; sterling, $4 84@4 86; 100½ for 3s; silver bars, 110½.4. Silver in Lendon, 50%/d; consols, 100 15-16d 5 per cent. United States bonds, extended, 105; 4s, 1233/2; 41/28, 115. In San Francisco Mexican dollars are quoted at 89½/2@90 cents. Affairs were unusually quiet in the San Francisco mining share market Saturday, no business of importance being transacted. Rain fell yesterday in various sections of the State. The Governor of Hongkong objects to the enrollment of Englishmen in the French service. Hot weather prevails in New York, the thermometer yesterday registering 94°. American clams are being exported to Eng. land from New York. The three-mile running record was beaten at Sheepshead Bay Saturday by Drake Carter. Butler proposes to substitute Hendricks for West on the ticket with himself. The funeral of the late Senator Anthony took place Saturday at Providence, R. I. The bank at New Brunswick, N. J., stopped payment Saturday. Battisa Raffo, Italian Consul at New York, is to be recalled. At Charter Oak Park, Saturday. Maud Messenger trotted three heats in 2:16½, 2:17½ and 2:19. The General Assembly of the Knights 0 Labor re-elected T. V. Powderly, of Scranton. Pa., Grand Master Workman. Tommy Chandler and Johnny Files, who recently fought a prize fight in Chicago, have been arrested by the police of that city. Chinese agents are trying to fit out privateers in England to prey on French commerce. Germany has taken possession of the west coast of Africa. An immense demonstration in favor of the English franchise bill took place Saturday in Glasgow, Scotland. Republican meetings were held at many points in the State Saturday evening. Manon won the free-for-all race at Oakland Saturday in three straight heats-2:22, 2:24½ and 2:23% James Howard was found dead at Salinas, Monterey county, Saturday. Fire near Cottonwood City, Mont.; loss, $60,000. The French have seized Passandares Bay Madagascar, without resistance. The rapid fall of the Nile makes Wolseley's plan for reaching Khartoum extremely difficult. A great conflagration occurred last night at Cleveland, O. The six-day walking match at Kansas City, Mo., closed last night, O' Leary winning, making 513 miles and 6 laps. Many riots occurred in Antwerp yesterday, out of sympathy with those at Brussels. A Clerical parade in Brussels yesterday resulted in great disorder, 185 arrests being made. The State election in Maine takes place today. Since May 1st twenty white women have been outraged in Georgia by negroes. Archbishop Gibbons, of Baltimore, calls a Plenary Council to meet in that city on the 9th of November.

2. September 9, 1884 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, September 9, 1884

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Article Text

over the double suicide of the and cashier of the Bank of New Jersey. The furnished by these in June of the current year a paid up capital of $250,surplus $125,000; undivided $78,180. There has been in the public history of the since that date to cause any siness to stockholders. The of President Ranyon, while ogthening the testimony of frauds in the management, unbounded astonishment to general public. resident Runyon, who commitsuicide this morning, was a 60 years old. He leaves a and four children; he has been of the bank five years. National bank is in chaos the $1,000 000 stolen by Hill, Runyon, the president, Im. in the theft of Hill, expecto be arrested when he took his The city is wild. Crowds kade Church street, where the stands. Acting-Cashier Camp expected to be arrested for plicity. Other suicides are ic ed. A threatened to burst the bank, but was subdued by police. Walter Carrol, a deposicut his throats on account of Bronswick is shaken to its Bank examiner Shelly has overed a deficit of over $1,000,000. town is wild; men rush frantics to the doors of the National only to be told that the busiof this institution is suspended the present. Ira Hosibes' estate partially ruined. Cashier Hill left us custodian of this estate, of the bonds and securities he away with, all over $19,000 taken here. In the G. B Adrisn over $80,000 is gone, Runyon, who committed has $60,000 in governbonds; Hill had negotiated the sale of these and con-umit some three days before his Runyon knew nothing of doings, trusting him ims The crash in Wall Street 1sst took the bulk of Hill's Mings. Runyon, although quite was ignorant of Manc'al and was a willing tool in hands of the designing cashier. 945 a. m. President Runyon up the bank in his carriage; was accompanied by his two daughters. ' Good bye, said Juliet, the eldest, reach out of the cerriage as Mr. Run descended to the pavement; "I all will be well." "If you do see me before night," he rended, "tell mamm I will sti- k the b nk." Twenty minutes he sent clerk Fitzzerald, who in charge of the bank, for a of the morning paper which the story was told his complicity in the bank's vnfall. Securing the paper he