14303. National Bank (Rahway, NJ)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
896
Charter Number
896
Start Date
November 22, 1883
Location
Rahway, New Jersey (40.608, -74.278)

Metadata

Model
gpt-5-mini
Short Digest
5292d13b

Response Measures

Full suspension, Books examined

Other: Directors submitted sworn statement to bank examiner; contemplated liquidation or receivership; depositors said to receive dollar for dollar.

Description

The National Bank of Rahway suspended payment on or about 1883-11-22. Articles report a small run prompted by the cashier's resignation and then suspension with directors discussing liquidation and possibility of a receiver; no reopening is reported, so classified as run leading to suspension and (apparent) closure.

Events (4)

1. March 16, 1865 Chartered
Source
historical_nic
2. November 22, 1883 Run
Cause
Bank Specific Adverse Info
Cause Details
A cashiers' resignation prompted depositor nervousness and a small run.
Measures
Directors made a sworn statement of the condition to the bank examiner; consulted with other banks; considered liquidation and placing affairs in receiver's hands.
Newspaper Excerpt
There was a little run on the bank because the cashier had resigned.
Source
newspapers
3. November 22, 1883 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suspension followed the run and reports of cashier resignation; directors prepared for liquidation and turned affairs over to examiner/possible receiver.
Newspaper Excerpt
The National Bank, at Rahway, suspended payment on Thursday.
Source
newspapers
4. March 9, 1887 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (5)

Article from New-York Tribune, November 24, 1883

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DENYING HIS OWN STORY OF A SHOOTING. After the discovery of the cave on the mountain west of Chappaqua and the capture of its occupant -the burglar, Joseph Phyle-August Errickson and John Walsh were sent to watch the cave. Errickson said next day that while he and Walsh were watching the cave a man approached and acted suspiciously. They called upon him to surrender and he drew a revolver. Errickson thereupon shot the suspected robber. Errickson and Walsh afterward buried the body near the spot. The story leaked out and Errickson was arrested and taken to the county jail at White Plains. He then denied that he had shot anybody and declared that his former statement was false. A warrant for the arrest of Walsh has been issued in order to hear his story, and a search will be made for the robber's body. THE RAHWAY BANK SUSPENSION. The excitement which was manifest in Rahway, N. J., on Thursday, owing to the suspension of the National Bank of that town, had subsided last evening to a few nummers on the part of the depositors. The directors had made a sworn statenient of the condition of the bank's affairs to submit to Bank Examiner Adams this morning, who will begin at once un investigation of the matter. Mayor High was in this city yesterday in consultation with the officials of the Importers and Traders' Bank. The opiniou of the directors is that they will stop business, put the bank's affairs in liquidation, and then take steps to incorporate a new bank under new auspices. Some of them are confident that the affairs of the bank will be placed in the hands of a receiver until its condition can be definitely determined, and a petition was made to the athorities at Washington, by one of the largest


Article from New-York Tribune, November 24, 1883

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DIPHTHERIA IN A PUBLIC SCHOOL. SEVERAL DEATHS REPORTED-ORDERING THE BUILDING TO BE CLOSED. President Stephen A. Walker, of the Board of Education, issued an order yesterday to the school trustees of the Twenty-fourth Ward instructing them to close immediately "Grammar School No. 63 at Third-ave. and One-hundred-and-seventy-secondst., in consequence of an outbreak of malignant diphtheria among the scholars. The attention of Mr. Walker was called to the matter by the parents of children attending the school, who said that hundreds of children were likely to die unless the school were closed. John H. Meyer, the principal, said that the first attack of diphtheria occurred in September, and that since then the disease had spread rapidly and there had been a number of deaths. John Haskins, of the primary class, residing in Central Morrisania, was the first attacked, but he recovered. He sat in the class beside Ernest Muller, a son of Henry Muller, the janitor of the school, who was scized with the disease and died in two weeks. Tobias Muller, his brother, was attacked on October 30, and died in two weeks, and Henry Muller, another brother, died on Wednesday. A son of Frederick Foly, one of the trustees of the school, Ida Foster, of Tremont, and Kattie Meyers, living with her parents near the Harlem Railroad station, Central Morrisania, have also died of diphtheria within a few days Among the children reported in Tremont yesterday to be suffering from the disease, are Fanny Bracken, a daughter of Henry Bracken, Superintendent of Public Works; Mamie Steers, a daughter of Charles H. Steers, a civil engineer living at Madison-ave. and One-hun-8 dred-and-seventy-eighth-st., and children of Mrs. Conlin and Mrs. Phelps of Tremont. On Wednesday a number of the parents held an indignation meeting and denounced the school officers for not giving notice of the disease and closing the school. Several of the parents said that the disease was due to the defective drainage of the school. An examination was made yesterday by David I. Stagg, superintendent of school buildings, Frederick Foly, a trustee, and John H. Meyer, the principal, and the drainage was found to be in good condition. The outbreak of diphtheria therefore must be attributed to some other cause. DENYING HIS OWN STORY OF A SHOOTING. After the discovery of the cave on the mountain west of Chappaqua and the capture of its occupant -the burglar, Joseph Phyle-August Errickson and John Walsh were sent to watch the cave. Errickson said next day that while he and Walsh were watching the cave a man approached and acted suspiciously. They called upon him to surrender and he drew a revolver. Errickson thereupon shot the suspected robber. Errickson and Walsh afterward buried the body near the spot. The story leaked out and Errickson was arrested and taken to the county jail at White Plains. He then denied that he had shot anybody and declared that his former statement was false. A warrant for the arrest of Walsh has been issued in order to hear his story, and a search will be made for the robber's body. THE RAHWAY BANK SUSPENSION. The excitement which was manifest in Rahway, N. J., on Thursday, owing to the suspension of the National Bank of that town, had subsided last evening to a few nummers on the part of the depositors. The directors had made a sworn state-


Article from The Lambertville Record, November 28, 1883

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The National Bank, at Rahway, suspended payment on Thursday. There is no irregularity and the depositors will get dollar for dollar. There was a little run on the bank because the cashier had resigned.


Article from The Kenosha Telegraph, November 30, 1883

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The East. 4 FIRE broke out a few days ago in the residence of James Savery, of Green Township, Pa., and he rushed in to save his children and succeeded, but he was burned to a crisp. IT was reported on the 21st that Charles R. Chubbuck, confidential clerk for John I. Robin, a New York custom-house broker, had absconded with $14,000. AT Erie, Pa., revenue officers captured an illicit still and three Burdick brothers on the 22d. THE other night Patrick Dodd and wife, of Attica, N. Y., blew out the gas in their hotel-room in New York, and were suffocated. ON the 22d the National Bank of Rahway, N. J., suspended payment. The authorized capital was $500,000, but only $100,000 had been paid in. IN New York City on the evening of the 22d Henry Ward Beecher presided over a tariff-reform meeting, and pronounced the protective system terribly oppressive to the poor men of the country. JOHN STEINHIBER shot dead Thomas Kerns, aged seventeen, at Ashland, Pa., a few days ago, alleging that he mistook him for a desperado. Kerns narrowly escaped lynching. SUIT was commenced in the Federal Court at Boston on the 22d by the National Home for Disabled Soldiers to recover from General Butler $18,375, for which he had failed to account. JOHN MCKEON, United States District Attorney for the Southern District of New York, died on the 22d. JOHN CHISHOLM was hanged on the 22d at Newark, N. J., for the murder of his wife. AT the wedding of Maurice B. Flynn and Miss Florence C. Moss in New York City a few days ago Father McDowell officiated, and received as his fee a check for $5,000. A DECISION has been rendered by the Massachusetts Supreme Court that a wom an may be legally appointed on the State Board of Health, Lunacy and Charity. This decides in the affirmative the question whether or not a woman is a person, under the statute. IN a Brighton (N. J.) newspaper office on the 23d a Democratic politician named J. L. Van Syckle shot the èditor, John Cheeseman, in the breast. The wounded man threw his assailant to the floor and fatally pounded him. ON the Pennsylvania Railroad near Philadelphia an express train struck a wagon a few days ago and killed Mrs. Christiana Frey, aged fifty years, and her son William, aged twenty-four years, and fatally injured Willian Frey, Sr. A VERDICT for $10,000 damages has been awarded Mary O'Connor, who was employed in a mill in Philadelphia, and leaped from a window during a fire, and was permanently disabled. THE discovery was made on the 23d that A. B. Johnson, who recently killed himself in Utica, N. Y., appropriated $800000 belonging to the MacDonnell estate, of which he had sole control. Mrs. MacDonnell is a sister of the dead defaulter. ON Jack's Mountain, near Allensville, Pa., a forest fire was raging on the 23d, and had extended over an area of several thousand acres. Over twelve thousand cords of wood had been burned. GOVERNOR BUTLER has pardoned Bernard Boland, who ten years ago was sent to the Massachusetts Penitentiary for life, on conviction of murder, because of the discovery that the statutes will not permit a boy to be sent to State Prison. A VERDICT for $4,500 has been secured by J. W. Wiggins, of klyn, against Edward Day for calling him an old fraud. Fogs have compelled the close of navigation on the St. Lawrence River, and boats went intowinter quarters on the 23d. ON the night of the 24th James Ruddy and his wife, son, and a lady visitor were murdered at Laconia, N. H., and the house set on fire. Thomas Salmon, a boarder, was suspected of the crime, and was in jail. His trunk was searched, and was found to contain the mangled remains of a Mrs. Ford, with whom he had previously boarded. A WAGON containing William McIntosh, a venerable farmer, and his wife, of Lanesville, Vt., and Rev. Joseph House and his daughter Mary, of Berlin, was struck by the engine of an express train a few evenings ago, and all four were killed. THOMAS EVANS & Co.'s extensive glassfactory at Pittsburgh, Pa., was destroyed by fire on the 25th. Loss, $100,000. THOUSANDS of acres of forest trees were destroyed by the recent gale on the New Hampshire and Maine border. The loss in Chatham alone was on the 24th estimated at $100,000. In many instances the homes of wood-choppers had been ruined, and much suffering among them would ensue this winter unless relief was given them. A GIRL named Phoebe Jane Paullin was murdered in some underbrush near Rose-


Article from Wessington Springs Herald, December 7, 1883

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continuously, and gas-light was necessary in stores and dwellings. MELBOURNE, Ark., was wrecked by a cyclone early on the morning of the 21st. The court-house, stores, churches and residences were blown to pieces, and four persons were killed and many injured. A number of structures at Coal Hill werealso demolished. At Fort Smith several houses were wrecked, one man was killed and several others were wounded. THE main loom-building of the woolen and cotton mill at New Albany, Ind., in which one hundred and twenty-five men were at work, was destroyed by fire on the 21st. Loss, $140,000. E. FRIEDLANDER & Co., wholesale dealers in furnishing goods at San Francisco, made an assignment on the 21st. The liabilities were placed at $400,000. HEAVY rains at Indianapolis flooded the northwestern quarter of that city on the 21st, the damage aggregating $200,000. Water was three feet deep in Dickson's lumber-yard, the railway tracks east of the Union depot were submerged, and nearly all travel by rail was suspended. THE residence of James Savery, of Green Township, Pa., took fire on the 21st. He rushed in to save his children and succeeded, but he was burned to a crisp. SURGEON VAN ZANDT, of the United States Marine Hospital at San Francisco, on the 21st reported two cases of yellowfever at that institution. ONE HUNDRED Indiana people killed themselves during the year ended October 31, six hundred and seven were killed by accident, two were officially hanged, and two were executed by mobs. IT was announced on the 21st that the total number of cases at Brewton, Ala., during the yellow-fever epidemic was seventy-five, with twenty-eight deaths. JOE ANZEL PERCA and his four daughters, living near Albuquerque, N. M., enticed a boy into their house a few days ago, and beat out his brains with a club. The Mexicans threatened lynching. CHARLES R. CHUBBUCK, confidential clerk for John I. Robin, a New York custom-house broker, absconded with $14,000 on the 21st. IN a farm-house in the township of Spring Arbor, Jackson County, Mich., Jacob Crouch, aged seventy-four years; his daughter, Mrs. Eunice White, aged thirty three: his son-in-law, Henry P. White, aged thirty-eight, and Moses Polley, a visitor, were murdered in their beds on the night of the 21st. The latter had shown considerable money, and stated that he should purchase cattle, and it was thought Mr. Crouch had $56,000 in his possession, said sura having recently been received by him from claims he held in a Texas cattleranch. Mr. Crouch was worth $2,000,000. A CYCLONE in Texas on the 22d blew down houses at Ogden and Woodville, and several persons were badly injured. HORACE A. BILLINGS, a Chicago lumberdealer, failed on the 22d for $100,000. JOHN CHISHOLM, a wife-murderer, was hanged on the 22d at Newark, N. J. IN portions of Iowa and Wisconsin snow to the depth of two inches fell on the 22d. THE National Bank of Rahway, N. J., suspended payment on the 22d. The authorized capital was $500,000, but only $100,000 had been paid in. PATRICK DODD and wife, of Attica, N. Y., blew out the gas in their hotel-room in New York on the night of the 22d, and were suffocated. THE Secretary of the Treasury at Washington on the 22d authorized the payment without rebate of the three per cents embraced in the one hundred and twenty-second call maturing December 1. The amount outstanding was about $14,750,000. HEAVY rains at Belleville, III., on the 22d flooded ten coal mines, inflicting damage estimated at $50,000. EXTENSIVE rain and wind-storms on the 22d in Southern Illinois and portions of Indiana and Missouri did great damage to buildings and railroads, and several lives were lost. REVENUE officers captured an illicit still and three Burdick brothers at Erie, Pa., on the 22d. J. O. REED, a well-known business man of Toledo, O., was robbed on the night of the 22d in a Wabash sleeping-car of a val-