14198. Newark Savings Institution (Newark, NJ)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
savings bank
Start Date
January 1, 1877*
Location
Newark, New Jersey (40.736, -74.172)

Metadata

Model
gpt-5-mini
Short Digest
37bb07a7

Response Measures

None

Description

The articles consistently report that the Newark Savings Institution suspended in 1877 (or 1878 in some accounts) due to heavy holdings of Chesapeake & Ohio bonds and related losses from the post-1873 disturbances. Subsequent chancery supervision allowed payments of dividends over several years and the court at one point authorized resumption under management, indicating a suspension followed by a reopening/rehabilitation effort. Later (per the 1895 obituary) a second suspension led to a receiver, but the bulk of the provided articles concern the original suspension (1877) and later partial repayments/resumption under chancery control. I therefore classify the episode as suspension_reopening. Dates are approximate where the articles do not give exact days.

Events (4)
1. January 1, 1877* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Large investments (over $2,000,000 face) in Chesapeake and Ohio Railroad bonds which were impaired by the railroad's insolvency and declines following the panic of 1873; examiners valued many securities far below face, precipitating suspension.
Newspaper Excerpt
the Newark Savings Institution ... suspended in 1877
Source
newspapers
2. January 1, 1879* Other
Newspaper Excerpt
the bank people are happy and depositors are clamoring for another payment of ten per cent on the amount of their deposit(s). (reports of improved asset values and dividends paid while under chancery control.)
Source
newspapers
3. January 1, 1879* Reopening
Newspaper Excerpt
The Chancery Court ... allowed It to resume business under certain limitations, under the management of Mr. Dodd.
Source
newspapers
4. January 1, 1880* Receivership
Newspaper Excerpt
Two years afterward the failure of Fisk & Hatch ... caused the second suspension of the bank, which went into the hands of a receiver.
Source
newspapers

Newspaper Articles (10)
1. July 18, 1879 The New York Herald New York, NY
Article from The New York Herald, July 18, 1879

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# HAPPY DEPOSITORS. When the Newark Savings Institution, the oldest savings bank in New Jersey, suspended its assets included over $2,000,000 worth (face value) of Chesapeake and Ohio Railroad bonds. The examiners appointed by the Chancellor valued these and other securities representing $600,000 at a total of $500,000, less than one-fifth the face value. Since then the railroad stock has risen so that the $2,000,000 is now worth $1,000,000. The bank people are happy and depositors are clamoring for another payment of ten per cent on the amount of their deposite.

2. July 21, 1879 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, July 21, 1879

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When the Newark Savings Institution, the oldest savings bank in New Jersey, suspended, its assets included over $2,000,000 worth (face-value) of Chesapeake and Ohio railroad bonds. The examiners appointed by the Chancellor valued these and other securities representing $600,000 at a total of $500,000-less than one fifth the face-value. Since then the railroad stock has risen, so that the $2,000,000 is now worth $1,000,000. The bank people are happy, and depositors are clamoring for another payment of ten per cent. on the amount of their deposits.

3. December 1, 1879 New-York Tribune New York, NY
Article from New-York Tribune, December 1, 1879

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NEW YORK CITY. Last week's record 1,242 arrests, 537 deaths, 563 births, and 227 marriages. The Indies' fair for the benefit of St. Joseph's Church, at One-hundrod-and-twenty-fifth-st. and Ninth-ave., will close to-day. The body of an unknown man, about forty years old, of medium height, and dressed like a longshoroman, was found in the East River at Pier No. 23 yesterday. A meeting of the striking cabinetmakers and varnishers who had been employed by Pottier & Stymus.was held Saturday,and it was reported that 135 men were now on strike. Michael Lavitzki, a Russian pedler, seventy-twovears old, hanged himself at his home, No. 28 Suffolk st., Saturday evening. He was depressed by bad health and the infirmities of old age. The forty-ninth anniversary of the Polish Revolution of 1830 was celebrated by the Polish residents of this city at Dramatic Hall, Houston-st., Saturday evening. Several speeches were made. Drainage and contracts for the laying out of streets the topics discussed at the special meeting of the West Side Association Saturday evening, and among the speakers were General Egbert L. Viele, Dwight H. Olinstead, and John D. Crimmins. A committee of the Westchester Polo Club, consisting of James Gordon Bennett, August Belmont, jr., Herman Oelrichs. F. Gray Griswold and H. L, Herbert. has selected grounds at Fifth-ave. and One-hundred-and-tenth-st, where a club-house will be erected. The total (estimated) amount of grain on the canal from Buffalo and Oswego coming toward tidewater on Saturday noon was Wheat. 179,000 bushels; corn. 273,000 bushels; barley, 94,000 bt shels; rye, 19,600 bushels; peas, 12,200 bushels. The canals will be closed officially on Saturday. The Socialistic Labor party met at the Germania Assembly Rooms Saturday evening, and several speakers spoke of the condition of the workingmen. Resolutions were adopte. protesting against the alleged attempts of the capitalists and their hirelings, the paid politicians of California, to violate the rights of the people." The Tammany committee to investigate the O'Callaghan-Haskin trouble in the XIXth Assembly District met Saturday night. A characteristic letter was received from Mr. Haskin, in which he tried toshow that Callaghan had proved treacherous to the Tammany organization, and asked tbat he be expelled. The subject will next come up before the Committee on Organization. The inmates of the Roosevelt Hospital were gladdened by the gifts which came to them on Thanksgiving Day from the Church of the Covenant, of which the Rev. Dr. Vincent is pastor. These consisted of a bouquet oreach patient, sixteen pots of flowers, a barrel of bananas, apples and oranges, a keg of Malaga grapes, three boxes of grapes, SIX baskets of choice fruits, twelve dozen lemons, a box of oranges, and a box of pears. Information has been received in this city of the arrest in Frankfort-on-the-Main of Alfred Engene Lagrave, who is famous for having swindled prominen! firms in New-York, Boston and Philadelphia in 1871. At that time he fled to Canada, and thence went to Belfast. He was subsequently arrested in London, but was discharged. Again be was arrested in France and brought to New- York, having about $80,000 in his possession, and was again discharged. He 18 now in custody on a charge of forging medical certificates and diplomas. BROOKLYN. The payment of taxes will begin to-day. During the year ending September 30, the Brooklvn, Flatoush and Coney Island Railroad carried 873,960 passengers. Itseatnings were $203,051 30 and its expenditures $155,328 07. Mrs. Barnes, age fifty, living in South Fifth-st., was seiz d with a fit of sickness while walking through Fourth-st. last evening, and died while being taken to St. Catherine's Hospital in an ambulance. Three burglars were discovered in a grocery store at Livingston and Hoyt-sts., Saturday morning, by D. Warms. He caught and held one of them until the arrival of the police. The burglar gave his name as George Watson, of No. 23 Bayard-st., NewYork. Justice Gertrum, of East New-York, has committed to the Penitentiary for thirty days the Rev. David Tibner, a colored preacher, who was charged with assaulting his wife, and whose excuse was that she had gossipped about him among the neighbors. A number of residents of the Eighteenth and Twenty-first Wards held a meeting Saturday night, at Broadway and Myrtle-ave., to protest against the use of steam motors on the Broadway Railroad. A committee of seventeen members was appointed to take proper measures. The St. Matthew's English Lutheran Church Society, which formerly worshipped in State-st., near Hoyt-st., has secured the use of the church at Chinton and Amity-sts., and dedication services were held there yesterday morning. A sermon was preached by the Rev. S. A. Ort, of New York. The Rev. M. W. Hamma IS the pastor of the church. George W. Beilby, of No. 426 Gold-st., who was arrested on Thanksgiving Day on a charge of perjury, has been admitted to bail: He sued W illiam allace and William Lombard, by whom he had been employed as a travelling agent, for breach of contract in lischarging him without paying him his salary for the balance of the year. and recovered a verdict of $560. The defendants have made a joint affidavit that Beilby swore falsely. JERSEY CITY. A hearing in the contest over the $18,000 left by David Leach, the miserly rag-picker who died a year ago, was held in Jersey City on Saturday in the Hudson County Orphan's Court. Mary J. Davis testified that she was a niece of the dead miser, and exhibited some articles which he had given her. Patrolman Thomas Flynn, of the First Police Precinct of Jersey City, died suddenly Saturday morning. He was on duty Thursday night, and returned to the station-house Friday morning with his clothing soiled with mud and his nose bleeding. It was alleged that be had been beaten. Chief of Police Murphy says the officer's death was caused by congestion of the brain. At the last meeting of the Board of Education of Jersey City the salaries of the principals were reduced 16-3 per cent, those of the other teachers 18 per cent, and those of the janitors 1734 per cent. Superintend Dickson's salary was reduced from $2,500 to $1,800, and that of the Clerk of the Board from $1,800 to $1,200. The reductions will take effect from to-day. NEWARK. August Bock, a boy employed in E. Simon & Sons trunk factory, had his skull fractured on Saturday by an iron bar, which another boy dropped upon his head through an open hatchway. He was in a ing condition yesterday. The body of a young man, well dressed. was found lying near the track at the coal dumps on the Penusylvania Railroad below Broad Street Station early yesterday morning. It was shockingly mutilated, the head being crushed and almost entirely severed from the body. The name could not be ascertained. Mr. Dodd, president of the Newark Savings Institution, which suspended over a year ago, states that within the last few months the securities held by the bank have advanced in market value over $1,000,000, and that the time IS not far distant when the managers will be able to pay dollar for dollar, and continue the business as of old. NEW-JERSEY. WEST HOBOKEN.-Francis Wenser, age fourteen years, and livingat West Hoboken, has been missing since last Thursday morning, hen he went hunting on the Seacaucus meadows. ELIZABETH.-Geore Meyer, of Menlo Park, accidentally killed his thirteen-year-old son Friday afternoon. He was cleaning a shot-gun, not knowing that it was loaded, and it went off, the charge entering the boy's hip and thigh. He bled to death before assistance could be obtained.

4. January 26, 1880 New-York Tribune New York, NY
Article from New-York Tribune, January 26, 1880

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# DEATH OF A MISER IN NEWARK. Abraham Thomas, who had the reputation of being a miser, died at a cheap boarding-house in William-st. in Newark, last Thursday, leaving $30,000 to be inherited by a brother and sister in Germany. His property consisted of bonds of Newark and New-York and the Government, which he always carried on his person. His occupation was that of a pedler of goods purchased at auction. His confidence in banks was lost a few years ago when he had deposits in the Newark and Dime Savings Institutions which suspended. Before his death he was induced to make small bequests to Hebrew charitable institutions. He was well educated, spoke five languages, and in his early life travelled over Europe and the East very extensively.

5. November 30, 1880 New-York Tribune New York, NY
Article from New-York Tribune, November 30, 1880

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GOOD NEWS FOR DEPOSITORS. The Newark Savings Institution and the Dime Savings Bank, which suspended in 1877, and are now under control of the Caancellor, are reported to be in a greatly improved condition, owing to the appreciation of their assets, and it is believed that both banks will be able to pay depositors in full. The Newark has already paid 60 per cent, and the Dime 40 per cent. The appreciation in value of the Chesapeake and Ohio bonds, over two millions of which are held by the Newark Savings Institution, already amounts to $1,000,000. The Dime Savings Bank held $200,000 of these bonds, which, when the bank suspended and commissioners made an estimate of the value of the assets held by it, were not considerea to be worth anything, and were not included in the schedule of assets ubmitted to the Chancellor. Their value now is $170,000. The managers of the Dime Bank expect to pay another dividend of 10 per cent before January 1. Both banks hold a large number of good mortgages on property in Essex County, which they would be reluctant to foreclose for the reason that such a course would cause widespread distress and because there is at present no demand for real estate. Since the suspension the Newark Savings Institution has disposed of $1,500,000 of mortgages with triffing loss, and paid depositors over $5,000,000. Upon the application of the officers of the Dime Saving Institution, made last night, Chance. for Runyon will take steps at once to order the payment of another 10 per cent dividend to the depositors.

6. November 4, 1881 New-York Tribune New York, NY
Article from New-York Tribune, November 4, 1881

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DIGUZ, 111/1 said that stocks in the factory to the amount of $100,000 is held by C. Nugent & Co. BALDWIN'S CAREER AND CAPACITY. Lewis C. Grover, one of the directors of the Newark Bank, is the president of the Mutual Benefit Life Insurance Company, which has between $500,000 and $600,000 among the deposits of the Mechanics' Bank, of which $500,000 was a special deposit drawing 312 per cent interest. In a long interview with a TRIBUNE reporter Wednesday, Mr. Grover made a statement of the connection of the institution of which he is president with the Mechanics' of Bank. Previous to last May the deposits the Mutual Benefit were kept in the Mechanics' Bank. Cashier Baldwin was a director of the Mutual Benefit. and from his intimate associations with the institution and its officers, had been frequently entrusted with the transaction of the financial business of the company. The deposits of the company occasionally ranup to a very high figure, reaching above $1,200,000 and $1,300,000. These deposits would again be reduced. Theodore Mackart. who, as president of the National State Bank. had brought that institution out of a difficuity precipitated by undue accommodations to Bathgate of & Son, of Newark, involving a loss to the bank $80,000, was selected as a good man for treasurer of the Munual Benefit and was elected. Some time after his election the question of dividing the and deposits between two or more banks was mooted a meeting was called of the directors for that pur- the pose. Oscar Baldwin, as a director, opposed project. but when it was proposed to make four banks of deposit he agreed to a division of deposits the between two. The amount of deposits oi company then with the Mechanics' Bank was largely in excess of a million dollars. This meeting the sheld last May. Atthat time there was not slightest suspicion of Baldwin or of the unsound- of ness of the bank. The measure was purely one precaution. the result of the business instincts of the new treasurer. The otherbank of deposit wasmade the State Bank, and gradually this institution received every dollar of the moneys received from premiums, etc. and these were invested in tempor- of ary loans on Government securities. The sum $100,000 was left in each bank and left untouched. No further deposits were made in the Mechanics' Bank, but a special deposit of about half a million made and upon this interest was charged at the rate of 312 per cent. Mr. Balawin," continued Mr. Grover, " was the a director in the Newark Savings Institution at of that Government bonds and millions time the of management institution which converted transaction took them two into Chesapeake and Ohio bonds, the soon afterward precipitated the suspension of savings institution. It was the current opinion deal at the time that somebody made a good of money out of that deal. Mr. Baldwin was spoken to in regard to the multiplicity of his duties. He was a director the of the Newark Savings Institution, president of Merchants' Fire Insurance Company, and a director of our institution, besides being cashier of the Mechanics' Bank. and then he was deeply interested in morocco manufacturing. I heard that he visited Nugent's place every morning before coming his to business. We thought it best that some of duties and responsibilities should be abandoned, his and he was given the alternative of resigning directorship in the Newark Savings Institution or his position with us. He finally chose the former alternative. "I was first made aware of the ruin of the bank by Mr. Condict. who came to my house on Sunday morning. I was in bed and he came to m room, sat down on the edge of the bed and looking around asked if we were alone. said yes: the family had to church. He then began to tell me what the in gone cashier had communicated to him. Histened silence. When he said that Baldwin had told him the that our special deposit had gone with rest of the money into the Nugent business, had I sur rise and repeated what Baldwin expressed me and the other officers, that the special detold posit had been placed with the Mechanics Bank in New-York to draw interest. Mr. Condict asked me what thought of the confession. immediately said that did not for one moment believe that the had all been sunk in the Nugent business: money that was alm st an impossibility. And do not believeit now. What is your opinion of Mr. Baldwin personally Well," said Mr. Grover. he is a well fed man physically, full of life and vigor. but devoid either of intellectuality or sensibility. He never read a book. Inducted into business in boyhood. his brightness the of President Jose ph Halsey, who had him advanced from took favored himand fancy social position qualities. to position. He had no education, no not a financier in the usual acceptation He was of that term. Twelve cashier. years ago I Mutual Benefit wanted a thought the Oscar Baldwin the most promising young in town who would be likely to be posted him on man the daily valuation of securities. I spoke He to took made the offer of the position. and the offer into consideration. It as understood that was to be private. Baldwin, however, our offer to President was that Mr. Baldwin communicated the the result matter retained his salary Halsey, is largely posi- and ion in the Mechanics' Bank with President Halsey said at the time spoke that increased. bank could not do without him. I At he Mr. Baldwin's lack of sensibility. of meeting Sunday night he never winced when the the resolutions were passed to suspend, but there was calm in his face when Mr. Frefinghuysen down the third resolution his prosecu- his writing tion for raining the bank. Monday I wrote for asdirector of the resignation for him to sign. resignation closing a insurance resignation company, He tore up writ- enthe form sent him and returned a Board met himself and dated Saturday. The diten yesterday by and elected Colonel E. H. Wright as rector in his place. There 18 some misapprehension," continued Mr. Grover, about the real character of the loss. There be assets. There ought to be about $1,600,000 must or thereabouts, to repay deposof is $500,000 which the tors. bills There receivable, property law is exacts worth stockholders: then the bank from although the valuation, an extremely been $100,000, is $25,000. Unless the assets have per tolen low one, there is a prospect of saving about forty ent."

7. November 21, 1881 New-York Tribune New York, NY
Article from New-York Tribune, November 21, 1881

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BANKS AND BUSINESS. Business during the past week has been much disturbed by the disclosure or apprehension of unsoundness in banks. The Tradesmen's Bank of this city was assailed by rumor early in the week, but was quickly pronounced entirely solvent after an examination by a committee of the Clearing House. Nevertheless rumors of forthcoming disaster continued, and a run on the Newark Savings Bank kept apprehension alive. On Friday the Pacific National Bank of Boston, a comparatively unimportant concern with a highly speculative reputation, closed its doors, and the Central National of the same city, having rediscounted largely for the Pacific, was distrusted on Saturday, and suspended payment for a few hours. These events, though in themselves unimportant, have added fuel to the flame of distrust which the Newark failure kindled. The strong and well managed banks feel that it is unjust to think of them with suspicion because two or three banks have stopped payment. But the popular impression is that there may be other banks, now considered safe, which have become entangled in speculation, and that absolute confidence in reputable directors and official examinations does not seem to be justified by recent events. It is feared by some, too, that the unexpected demands upon the Boston banks may cause a considerable withdrawal of money from this city, though telegrams from that point represent that the disturbance is over. The money market became close on Friday and Saturday, not merely because of these apprehensions, but because it happened that the Treasury was taking some money from the banks. Up to Wednesday night the market had not been much affected, although it had not received expected aid by the operations of the Treasury. From Wednesday the 9th to Wednesday the 16th the Treasury increased its balances $5,000,294, of which $4,000,000 was received from the Mint; but while it took from the banks $1,000,000, their statement of Saturday shows that they lost only $416,200 on the week's averages, 80 that they appear to have received some money from other cities. After Wednesday, however, the Treasury drew about $2,000,000 more from the banks before business closed on Saturday. This drain, coming in place of the reinforcement which many had expected from the sale of bonds on Wednesday, may naturally have caused some disappoint-

8. July 18, 1882 New-York Tribune New York, NY
Article from New-York Tribune, July 18, 1882

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ave., fell from a third story window to the ground yesterday and was almost instantly killed. William Whitlock, age forty-five, was arrested yesterday for brutally beating Miss Margaret Thompson, of No. 53 South Eighth-st. whom he met in a street after returning from an excursion. He was held for examination. John J. Gorman, of the Fourth Ward, has brought a suit to restrain Edwin Packard, president of the Kings County Republican General Committee, from ousting him from his seat in that body as a delegate on the ground of non-payment of dues. The papers in the case are similar to those in the suit of M. J. Dady, brought last week for a similar purpose. In the case of the three men, Riley, Ney and McCarty, accused of illegal voting at the Republican primary in the Sixteenth Ward recently, who were shown to be registered as Democrats as well as Republicans in the ward, Justice Walsh dismissed the case yesterday. as their counsel claimed that the complaints against them were defective. The police found no trace yesterday of Henry Freeling, the missing janitor of Duffield Terrace. The suspicion that his disappearance was connected with that of George Macrostie, who lived in one of the houses in the Terrace, was set at rest by the return home of the latter atan early hour yesterday morning. The money he had with him he had earned and he showed where he had been. The decoy postal card Freeling said he received cannot be traced. JERSEY CITY. Michael Luby and his wife, of No. 161 Morganst., became involved in a quarrel last night with Ellen Shaw and her husband, who live in the same house, Mrs. Shaw seized a carving knife and with one blow cut the lower portion of Luby's nose off. The severed member was sewed together by a physician and Mrs. Shaw was arrested. The trial of Edward M. Rielly on an indictment charging him with having while holding the position of Treasurer of Harrison misappropriated $10,000 of the town's money was set down for yesterday in the Hudson County Court of General Sessions. The case was tried in April, but after being out for forty-eight hours the jury disagreed and were discharged. When the case was called yesterday Rielly withdrew the plea of not guilty and pleaded non vult. The plea was accepted. It is said that Rielly's mother, who 18 wealthy, will pay the amount of the deficiency. NEWARK. William McLeod was tried yesterday on a charge of assauiting a widow at Milburn on Sunday evening, June 25. He was convicted and sentenced to fifteen years in State prison. Mr. St. Lawrence, a Paterson lawyer, made application to Chancellor Runyon yesterday at Newark for an injunction to restrain the authorities of Paterson from laying oblong-stone pavements in the central streets of that city. The Republican members of the Paterson Common Council wanted this kind of pavement, and the Democrats wanted macadamized drives in the suburbs, and a compromise was effected by putting $10,000 in the tax ordinance for improvements, without specifying what kind of work was to be done. The Chancellor refused the injunction, but said he would hear counsel on both sides on next Wednesday. The Newark Savings Institution yesterday began the payment of an additional 10 per cent. dividend to old depositors, making 90 per cent. in all paid to these depositors since the bank suspended in 1877. When the bank suspended the assets included about $3,000,000 of Chesapeake and Ohio first and second mortgage bonds. The first-mortgage bonds were rated at 25 cents on the dollar. Commissioners appointed to appraise the assets set down these bonds at $500,000. Their value has since greatly appreciated, so that $1,500,000 has been realized from the bonds sold, while others remain on hand. The amount required for the payment of 10 per cent. is $1,000,000. It is probable that when the 100 per cent. is paid something will be left to distribute among depositors in the way of interest. LONG ISLAND. LONG ISLAND CITY.-The men who were arrested by the police over a week ago for selling pools at Hunter's Point were taken before Justice Delehanty vesterday and remanded until Tuesday. The defendants' counsel claimed that they could not secure the attendance of witnesses before that time. The trial of Alderman August Rassiga, of Long Island City, for violation of the Sunday liquor lawson July 31, 1881, was concluded in the Queens County Court of Sessions yesterday. The jury failed to agree. Senator James W. Covert, who appeared for the defence, bitterly denounced the members of the Law and Order Society who are instituting the proceedings against the liquor dealers. STATEN ISLAND. SOUTHFIELD.-William Sullivan was yesterday appointed town clerk in place of William H. Dougherty, deceased. CLIFTON.-Dr. Smith, Health Officer of the Port, said yesterday that all vessels arriving from Havana after to-day would be detained at the Upper Quarantine grounds off Robbins Reef to be fumigated before coming up to the city.

9. November 28, 1882 New-York Tribune New York, NY
Article from New-York Tribune, November 28, 1882

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JAMES F. BOND. James F. Bond, one of the oldest citzens of Newark, N. J., died at his house, No. 137 Union-st., in that city, at noon yesterCay. Mr. Bond was born at Caldwell, Essex County, N. J., in 1809. He settled in Newark when a young man, and after serving as a clerk went to Charleston, S. C., and established a branch of the shoe house of Granniss & Co. Soon afterward, returning North, he engaged in business at Stanhope, N.J. Finally he returned to Newark and engaged in the com. mission business, which he continued up to the date of his death. He was connected with a number of financial institutions, being a director of the Mechanics' Na. tional Bank up to the time of its suspension, and also a director of the Howard Savings Institution and the Firemen's Insurance Company. and receiver, trustee or guardian of a number of estates. A Democrat in policies, he was elected twice to the Legislature, a member of the Board of Education and of the Tax Board. When the Newark Savings Institution suspended, Mr Bond was selected by the ChanceHor as one of the three commissioners to appraise the assets of the institution. He was a heavy loser by the failure of the Mechanica' Bank and was prominent in the movement to pay the depositors and reestablish the institution. His personal character in Newark stood high. Just before his death he said to a relative: Whatever remains, I do not want left behind anything that will compromise the name of James F. Bond." The funeral will take place on next Friday at 11 a. m.

10. June 25, 1895 New-York Tribune New York, NY
Article from New-York Tribune, June 25, 1895

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OBITUARY. DANIEL DODD. Daniel Dodd. one of the oldest and best-known citizens of Newark. died at his house, No. 27 Saybrook Place, at noon yesterday. He was seventyeight years old. He caught cold last winter and lung trouble soon developed. His physician sent him to Augusta, Ga., where he seemed to improve, but when he returned home the malady returned and soon affected his brain. For several days before his death Mr. Dodd was unconscious. Daniel Dodd was born in Orange, N. J., in 1817, and was graduated at the University of the City of New-York in 1835. He studied law in Newark and was admitted to the bar in February, 1839. Mr. Dodd practised his profession for fifteen years, and he then became Deputy-Sheriff for Essex County, serving one term. He was then appointed secretary of the New-Jersey Insurance Company, and held that office until 1866, when he was elected treasurer of the Newark Savings Institution, the largest savings bank in the State. In 1871 he became president of the bank and in the same year was elected president of the Newark Gaslight Company. For about twelve years he was a member of the Newark Aqueduct Board and was Alderman from 1856 to 1859. In the latter year he was nominated on an opposition ticket for Mayor against Moses Bigelow, Democrat, and was defeated. He was appointed a member of the Newark Sinking Fund Commission, and served with credit. Earlier in life he was a reporter for "The Newark Daily Advertiser" at the State Constitutional Convention of 1844. Mr. Dodd was more generally known in connection with the failure of the Newark Savings Institution in 1878. The concern had invested largely in stocks and bonds of the Chesapeake and Ohio Railroad Company, and the insolvency of that corporation, with other losses growing out of the panic of 1873, compelled the bank to suspend. The Chancery Court, however, with the view to rehabilitating it, adopted the suggestions of prominent lawyers and allowed It to resume business under certain limitations, under the management of Mr. Dodd. Two years afterward the failure of Fisk & Hatch, in Wall-st., caused the second suspension of the bank, which went into the hands of a receiver. For several years Mr. Dodd had been notary for several financial institutions and led a retired life. He was the author of the Controllership law, and gave valuable aid at different times to the financial officers of Newark. Mr. Dodd was treasurer and a member of the Board of Governors of the Essex Club of Newark. For more than half a century he was a member of Trinity Episcopal Church, in Newark, and was a vestryman for twenty-five years. He was for many years treasurer of the State Convention. the Episcopal Fund and other financial trusts of the Episcopal Church. He leaves three children. Daniel Dodd, jr., of Schenectady; Mrs. Stuart MacKie. of Morristown, and Miss Mary Dodd, of Newark.