14352. State Savings Bank (Trenton, NJ)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: savings bank
Start Date: January 12, 1878
Location: Trenton, New Jersey (40.217, -74.743)

Metadata

Model: gpt-5-mini
Short Digest: f5aa8aa8

Response Measures

Borrowed from banks or large institutions, Full suspension, Books examined

Other: Receiver appointed and criminal indictments; treasurer made assignment of property to benefit depositors.

Description

Multiple articles report an initial run/large withdrawals (depositors giving two weeks' notice and immense withdrawals), the bank suspended payment on/around Jan 12, 1878, a receiver (E. Mercer Shreve) was appointed and the treasurer and sons were indicted/convicted for embezzlement. The failure was due to bank-specific malfeasance (Freese family misappropriation). Dates are taken from newspaper reports (suspension reported Jan 12, 1878; receivership and legal proceedings reported in February).

Events (4)

1. January 12, 1878 Run

Cause: Bank Specific Adverse Info
Cause Details: Depositors withdrew heavily after suspicion about the Freese family's management and rumored unsoundness; run developed when two-weeks' notices expired and cash was exhausted.
Measures: Bank asked for forbearance of depositors for a few days while disposing securities; attempted to negotiate loans and to pledge real estate to raise funds.
Newspaper Excerpt: The run on the bank commenced two weeks ago... That expired last Saturday and the run was then immense, so much so that there was no money to pay out.
Source: newspapers

2. January 12, 1878 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Suspension followed heavy withdrawals and discovery of misapplied funds / questionable mortgage securities and suspected embezzlement by officers (Freese family).
Newspaper Excerpt: The State Savings Bank stopped payment yesterday, and gave notice that they asked the forbearance of depositors for a few days, until they can dispose of some of their securities.
Source: newspapers

3. January 15, 1878 Receivership

Newspaper Excerpt: A receiver will be appointed... examination of the affairs of the State Savings Bank... E. Mercer Shreve, Receiver of the bank (later referenced). Col. Jacob R. Freese made an assignment of his property to be paid to E. Mercer Shreve, receiver of the bank, for the benefit of depositors.
Source: newspapers

4. February 25, 1878 Other

Newspaper Excerpt: Mr. Jacob R. Freese ... was sent to the State Prison for a term of five years. His sons ... were sentenced ... for conspiracy to defraud the depositors and for embezzling the funds of that institution.
Source: newspapers

Newspaper Articles (21)

1. January 14, 1878 New-York Tribune New York, NY

Article from New-York Tribune, January 14, 1878

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SUSPENSION OF A TRENTON SAVINGS BANK. TRENTON, N. J., Jan. 13.-The State Savings Bank stopped payment yesterday, and gave notice that they asked the forbearance of depositors for a few days, until they can dispose of some of their securities. This is generally known as Freeze's Bank. Secretary of State Kelsey has directed a thorough examination into the affairs of the institution. He will begin the work to-morrow. Its last report to the Legislature showed $69,431 46 due to depositors, with apparently enough assets to pay all indebtedness. There are $29,000 in mortgages, of the value of which nothing is known.

2. January 14, 1878 The New York Herald New York, NY

Article from The New York Herald, January 14, 1878

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JERSEY SAVINGS BANKS. There continues in Newark among the many thousands of depositora in the Newark Savings Institution a deep seated feeling of distrust and even anger toward the management under whose control the bank was obliged to suspend last month, and a vigorous effort 19 being made by some of the depositors to not only bring about a complete change of management, but to have the responsible officers overbauled by the Grand Jury. Yesterday afternoon a number of German depositors held a meeting at Turn Hall, in Newark, when the subject was discussed with considerable freedom and anima110n in the German language The Agitation Committée made a report setting forth that they bad secured the services of Counsellors Teese and Fitzpatrick, and had been advised by them to apply to the Chancellor lor the removal of the present Board of Directors of the bank. Mr. Daniel Dodd, president of the bank, had stated, in answer to a communication calling upon him to resign, that he and the twelve directors, all except one, were ready to resign or would appoint such men in their places as the depositors might name, and then the new direc. tors could fill all vacancies. Ex-Assemblyman Gottfried Kornegar expressed himself in favor of keeping the present directors ID office until their management had been investigated by the Grand Jury. He was informed, however, that their removal would in no wise alter their status be. lore the Grand Jury. With the understanding that the list was to be submitted to the American depositors for approval or addition, should they hold a meeting, the following names were presented by the Agitation Committee and adopted as the choice of the meeting for new directors:-Jose Hensier, Noah Blanchard, Herman Schalk, M. R Dennis, Mayor Henry J. Yates, David M. Meeker, Theodore Macknit, Julius Brose, James G. Barnett, Horace Alling, George H. Wilkinson. EN H. Reynolds, Charles Borcherling, Alexander Nichola, Isador Lehinau, Julius Staff, Joseph Feder, Fred. erick Reinhold and Cuarles Neumann. A resolution Scat by Rev. Oscar Kroit, who was un. able to attend, opposing the supplement to the Geaera! Savings Bank act, now before the Legislature, was referred to the counsel above named. It IS understood that the matter will be brought to-day before the Grand Jury, with a view to getting that body to probe the past management of the bank to the bottom. STATE SAVINGS BANK. Great excitement prevails respecting the State Savings Bank of Trenton, of which J. R. Freese is VICO president; H. C. Freeae, hisson, cashier, with another son in the office. It was the relatives of this same Freese family who ran the Jersey City Savings Bank until Secretary of State Kelsey assumed charge. That flurry occasioned such distrust tespecting the "Freese bank" that a number of depositors gave the required two weeks' notice, which ex pired yesterday. W. H. Skeria, acting for Patrick Kelly, applied yesterday for the return of $540, but was refused by the cashier, who referred hith to J. R. Freese, then sitting in the rear office. This official stated that the demand, although in legal form, could not be met; that the assets of the bank were being scheduled for the purpose of securing a loan; that be had $100,000 in roal estate, all of which would be put up it necessary in order to protect the depositors, and until the loan could be effected nothing would be done. He was confident. however, that in the course of two or three days everything would be in shape. The Court of Chancery last night served an injunction on the treasurer of the bank restraining it from transacting any more business. It IS believed that a receiver' will be appointed to-morrow. Colonel Jacob R Freese, treasurer of the bank, places the habilities at $65,000 and the assets about $57,000. He stated that the run on the bank commenced two weeks ago, when 16 was found necessary to give the customary two weeks' notice to depositors. That expired last Saturday and the run was then 1m. mense, so much so that there was no money to pay out. The Colonel says he tried to negotiate several loans, one for $25,000, giving as security his personal property, worth $100,000, but failed., He says the securities are nearly all mortgages. He 18 willing to take the entire responsibility, and will see that no depositor loses a dollar. He says he pledges his word and honor to that effect. Mr. Freese is director of the First National Bank of Trenton, and holds other positions of honor. He 18 said to DO wealthy. THE DIME SAVINGS BANK. Mr. A. B. Dayton, of Jersey City, has presented to Chancellor Runyon, of New Jersey, at his chambers, in Newark, a potition of the Dime Savings Bank, of Hudson City, for direction in administering the trust, &c. The petition 8018 forth that there 18 now due de positors the sum of $27,246 06, and that the invest. ments of the institution are as follows:In bonds and mortgages on lands in Hudson county to the amount of $20,980. and in Bergen county $1,800;on lands in Jersey City $2,400, in the sales and office furniture of the institution 1,400, and $2,830 due from the estate of the late treasurer of the institution, and also in cash $100. It was represented

3. January 14, 1878 New-York Tribune New York, NY

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BRANCH OFFICES OF THE TRIBUNE. NEW-YORK-No. 1,238 Broadway, corner Thirtyfirst-st.: No. 308 West Twenty-third-st., corner Eighth-ave.; No. 760 Third-ave., corner Fortyseventh-st.: No. 2.386 Fourth-ave. [Harlem.] WASHINGTON-No. 1.335 F-st. LONDON-No. 13 Pall Mall. S. W. PARIS-No. 12 Rue de la Monnaie. Nem-Dork Daily Cribune FOUNDED BY HORACE GREELEY. MONDAY. JANUARY 14, 1878. THE NEWS THIS MORNING. FOREIGN.-The Grand Duke Nicholas was to have crossed the Balkans yesterday; he has telegraphed to the Porte that he is willing to receive delegates to discuss armistice conditions, but is unaware of It is expected that Genthe terms of peace. eral Martinez-Campos will offer a truce in Cuba. Domestic.-Mr. Blaine has reached Washington Speaker from the West, in improved health. Randall will call upon Mr. Ewing to explain misThere are statements in his Columbus speech. now on file 1,000 applications to be Commissioner to Paris. Western manufacturers are paying out silver as an experiment. Major Runkle has circulated a pamphlet defending the justice of his restoration. The proposed creation of aregular government in the Indian Territory is regarded The State Savings Bank as a land grab. of Trenton, N. J., has suspended. Henry Denison & Co. have filed exceptions to the findings of the referees in the canal suit against them. Governor Hubbard, of Texas, has written to President Hayes, giving a review of border outrages by Mexicans for twenty years past. CITY AND SUBURBAN.-The coal companies have agreed to their percentages in a combination, and A facclaim that the scheme is now settled. tion in the American Temperance Union tried to disJohn F. place the present officers, yesterday. Henry, Curran & Co., Hegeman & Co., and other Surveyor Merfirms have made assignments. ritt has issued rules for the guidance of weighers. The creditors of H. M. Cutler & Co. have found 1,100 bales of cotton obtained from them. Investigation in Brooklyn shows that many There licenses have been granted illegally. is great excitement in Stamford over the detection The Erie argument was of liquor dealers. closed Saturday. Gold, 1023, 102¹s. 10214. Gold value of the legal-tender dollar at the close, 97810 cents. Stocks heavy. closing dull and steady. THE WEATHER.-TRIBUNE local observations indicate rainy weather with little change of temperature. Thermometer yesterday, 35°, 43°, 39°.

4. January 15, 1878 The New York Herald New York, NY

Article from The New York Herald, January 15, 1878

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STATE SAVINGS BANK OF TRENTON. a [BY TELEGRAPH TO THE HERALD.] TRENTON, N. J., Jab. 14, 1878. Secretary of State Kelsey, in accordance with his duties as State Commissioner of Insurance and Savings Banks, to-day directed his deputy, Watson F. Van Camp. to commence an examination of the affairs of the State Savings Bank. In entering upon his duties Mr. Van Camp demanded a list of the securities of the bank for examination, but Colonel Freese, the treasurer, refused to Show them, alleging as a reason that the Chancellor's order lorbid him from doing so. Mr. Van Camp said that the order torbid the disposing of the assets, but not the showing of them. Freese persisted in his reinsal, and Van Camp then said be would apply to the Chancellor for an order compelling Freese to hand over the securities for examination. The investigation will last three or four days, and until it 18 concluded nothing definite can be ascertained. The rule to show cause why a receiver should not be appointed 18 made returnable on next Tuesday. The general impression is that the bank is in a very bad condition.

5. January 17, 1878 The Toledo Chronicle Toledo, IA

Article from The Toledo Chronicle, January 17, 1878

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DOMESTIC. THE report of the Commissioner of migration shows the total number of aliens no arrived at the port of New York last-year have been 54,536, a decrease, compared th the previous year, of 16,729. THE Thirtieth Annual Convention of e American Dairymen's Association conned at Cleveland on the 8th, with a large tendance from the different States and Cana. THE Allegan County (Mich.) Treaser's gafe was blown open, on the night of the n, and robbed of between $2,000 and $3,000 SEVERAL additional failures were anounced, in New York, on the 11th, resulting om the previous suspension of E. J. Dunning Co. A WASHINGTON dispatch of the 13th VS that, on the recommendation of. Sec'y hurz, an Executive order would shortly be ued discontinuing the Central Superintendcy of Indian Affairs, in regard to the conct of which some damaging revelations re recently made by the report of the Board Inquiry. Two of the principal clerks of the Indian Bureau were discharged on the h, in accordance with the recommendans of such Board, and similar action would on be taken in regard to a number of othpersons connected with the service. Vaus other reformatory measures had been termined upon, but were temporarily deed in order to make them more effective the institution of civil suits or criminal oceedings against the parties implicated. THE State Savings Bank at Trenton, J., known as Freeze's Bank, stopped payat on the 12th. A STRIKE was inaugurated among workmen in the shoe factories at Lynn, 86., on the 12th, which threatened to become eral. JUDGE McALLISTER, of Chicago, has ently decided that the ordinance of that J prescribing the size of fruit packages is KI traint of trade, and therefore unconstitunal and void.

6. January 17, 1878 The Milan Exchange Milan, TN

Article from The Milan Exchange, January 17, 1878

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EAST AND SOUTHEAST. In the Maryland House of Delegates, on the 8th, Hon. Montgomery Blair introduced a concurrent resolution, accompanied by a memorial to Congress, reciting certain alleged facts in regard to the late Presidential election, and asking that needful legislation may be adopted "to ascertain judicially who was elected President and to give effect to the will of the people." The resolution was referred to the Committee on Federal Relations. The Legislature of New Jersey met on the 8th. In reference to the recent interference with United States revenue officers in the discharge of their duties in Union County, S. C., the Commissioner of Internal Revenue is informed that Governor Hampton has directed the Sheriff of Union County to see the law enforced, and proposes to remove the Trial Justice and disband the militia company implicated in the rescue of Federal prisoners at Spartansburg. The New Hampshire Republican State Convention, held on the 9th, readopted the Cincinnati platform and indorsed the Administration of President Hayes. Mr. Wm. E. Chandier, an outspoken opponent of the President, made a speech criticising severely his Administration, and in reply Mr. Tuck called Chandler a "political tramp and lobbyist." B. F. Prescott was nominated for Governor. The platform opposes the repeal of the Resumption act and the remonetization of silver. Theodore R. Wetmore, the convicted Vice-President of the Security Insurance Company, of New York, has been sentenced to one year in the penitentiary and $250 fine; the full penalty. The Legislatures of Connecticut and Mississippi met on the 9th. John F. Henry, Curran & Co., of New York City, the most extensive patent medicine house in the country, have been forced into bankruptcy, caused by the suspension a few days previously of E. J. Dunning, Jr., a leading banker and broker. There is a general strike of Crispins at Lynn, Mass., and serious disturbances are threatened. Out of the 189 shoe manufactories in the city, only about one-fifth are running. The State Savings Bank of Trenton, N. J., suspended on the 12th. Jason Leighton's camp on West River, above Cherryfield, Me., burned on the night of the 11th, and four of his children perished in the flames. Robert Fishburne and Walter S. Harley, of Walterboro, S. C., fought a duel with revolvers at ten paces, near that place, on the 12th. Harley was mortally wounded at the first fire. They were brothers-in-law, and both lawyers. The difficulty arose out of some offensive remark made by Harley, Fishburne being the challenging party. The latter has fled.

7. January 18, 1878 Perrysburg Journal Perrysburg, OH

Article from Perrysburg Journal, January 18, 1878

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and in the disputed States as to their local affairs, to a railroad-subsidy bargain. T. R. Wetmore, ex-Vice-President of the Security Insurance Company, of New York, convicted of conspiracy, has been sentenced to a year's imprisonment and to pay a fine of $250. An application has been made for a receiver for the Charter Oak Life Insurance Company. At a meeting of bank Presidents of Boston, Philadelphia and New York in the latter city, on the 9th, a committee was appointed to memorialize Congress against the passage of the pending Silver bill, and to petition that any enactment authorizing the coinage of silver except for change shall regulate the value thereof by its bullion contents. The shoemakers of Lynn, Mass., are on a strike. The New Hampshire Republican Convention was held at Concord on the 9th. Charles H. Bell presided. Nominations were made: B. F. Prescott for Governor, and D.E. Williard for Railroad Commissioner. Resolutions were adopted-reaffirming the Cincinnati platform; approving the President's efforts to secure to the whole country the blessings of a just, efficient and honest Administration;-coudemning as recreant and ruinous the attempt of the Democratic House to destroy the Resumption act: denouncing the Silver bill; favoring universal education, compulsory if need be; opposing subsidies to private corporations and interests; unqualifiedly indorsing the Administration, and condemning all attempts to reopen the Presidential controversy or question the title of the President to his office. The Pennsylvania Supreme Court has affirmed the sentence of death passed upon the Mollie Maguires, Hester, Tulley, McCue and Kehoe. The Shoe and Leather Board of Trade of Baltimore denounce the Bland Silver bill and postponement of gold resumption. The New York Assembly has passed a resolution opposing the passage of the Bland bill -105 to 17. The Independent Greenback party of New York has sent a petition to Congress to pass the following laws: First-Remonetize silver coin containing the same amount and quality of silver it possessed in 1870, and provide for its coinage and issue without limit, making it a full legal tender for its face value in payment of all debts, public or private. Second-Repeal the act by which the Government is pledged to resume payments Jan. 1, 1879. The Supreme Council of the Order of American Union has adopted resolutions recognizing in the death of Victor Emmanuel the loss of a man who had made himself dear to all levers of civil and religious liberty. The Order now has between 800,000 and 900,000 members. John F. Henry, Curran & Co., of New York, one of the largest patent-medicine firms in the United States, failed on the 11th. Great damage was caused by a heavy gale which on coast on the prevailed the number of of Maine vessels night of the 10th. A were ashore and went blown barns to pieces, blown down trees and and fences were prostrated, houses unroofed. A temporary injunction was granted on the 11th against the Charter Oak Life Insurance Company. The Cotton Exchange of New York oppose the Bland Silver bill. The State Savings Bank at Trenton, N.J., has failed. No clew had been discovered to the whereabouts of Thomas Lord, the aged millionaire who recently married the Widow Hicks at New York, up to the 14th. In the lower house of the Pennsylvania Legislature on the 11th a resolution for the appointment of a joint committee to inquire into the circumstances of the railroad riots, to ascertain the causes as well as the results of the same, and report to the Legislature was indefinitely postponed, The resolution. a telegram says, was the beginning of an effort to make the State responsible for payment of the damages by the riots. E. J. Dunning, a New York note-broker, has failed. Liabilities $900,000. The failures of Henry, Curran & Co. and Hegeman & Co., wholesale druggists, were results of Dunning's failure. Buffalo bankers oppose the Silver bill. President Seelye, of Amherst College, who was a member of the Indian Committee when in Congress, pronounces the proceedings of the late Board of Inquiry into the Indian management a gross travesty upon justice, which was procured by unscrupulous enemies of the late Chief Clerk, Galpin.

8. January 18, 1878 The Emporia News Emporia, KS

Article from The Emporia News, January 18, 1878

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Suspended, Jan. 10-The Great Barrington Savings bank, Spring fied, Mass., $407,000 deposits. Jan. 11-Wells, Faulkner & Co.'s banking house, Chicago, liabilities $116.000. H. H. Hollister, banker, N. York, $195,000. Jan. 12, State Savings bank, Trenton, New Jersey.

9. January 19, 1878 American Citizen Canton, MS

Article from American Citizen, January 19, 1878

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the sentences of Wm. J. Meaders and Thos. Robinson, convicted of murder, and Joshua Wade, convicted of rape, and sentenced to be hanged on the 18th inst. The officers of the Charter Oak Life Insurance Company, of Hartford, Conn., who are to be tried for conspiracy to defraud, escaped indictment for perjury in falsely swearing to the Company's condition, for the reason that there is no statute on which to convict them. The Legislature of last winter supposed that it had passed an act aiming at official perjury, but just before its passage some one ran a pen mark through that clause, and no one noticed the omission until it was too late. Railway postal mail service, to go into effect immediately, is ordered between St. Louis and Texas, by way of Little Rock, Ark. A large cattle shed at the stock-yards of Fairbanks's distillery, Terre Haute, Ind., was burned on the 13th, together with 300 of the 800 head of cattle confined therein. There is a general strike of Crispins at Lynn, Mass., and serious disturbances are threatened. Out of the 189 shoe manufactories in the city, only about one-fifth are running. The State Savings Bank of Trenton, N.J., suspended on the 12th.

10. January 25, 1878 The Jasper Weekly Courier Jasper, IN

Article from The Jasper Weekly Courier, January 25, 1878

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EAST AND SOUTHEAST. In reference to the recent interference with United States revenue officers in the discharge of their duties in Union County, S. C., the Commissioner of Internal Revenue is informed that Governor Hampton has directed the Sheriff of Union County to see the law enforced, and proposes to remove the Trial Justice and disband the militia company implicated in the rescue of Federal prisoners at Spartansburg. The New Hampshire Republican State Convention, held on the 9th, readopted the Cincinnati platform and indorsed the Administration of President Hayes. Mr. Wm. E. Chandler, an outspoken opponent of the President, made a speech criticising severely his Administration, and in reply Mr. Tuck called Chandler a political tramp and lobbyist." B. F. Prescott was nominated for Governor. The platform opposes the repeal of the Resumption act and the remonetization of silver. Theodore R. Wetmore, the convicted Vice-President of the Security Insurance Company, of New York, has been sentenced to one year in the penitentiary and $250 fine; the full penalty. John F. Henry, Curran & Co., of New York City, the most extensive patent medicine house in the country, have been forced into bankruptcy, caused by thesuspension a few days previously of E.J. Dunning, Jr., a leading banker.and broker. There is a general strike of Crispins at Lynn, Mass., and serious disturbances are threatened. Outof the 189 shoe manufactories in the city, only about one-fifth are running. The State Savings Bank of Trenton, N. J., suspended on the 12th. Jason Leighton's camp on West River, above Cherryfield, Me., burned on the night of the 11th, and four of his children perished in the flames. Robert Fishburne and Walter S. Harley, of Walterboro, S. C., fought a duel with revolvers at ten paces, near that place, on the 12th. Harley was mortally wounded at the first fire. They were brothers-in-law, and both lawyers. The difficulty arose out of some offensive remark made by Harley, Fishburne being the challenging party. The latter has fled. A serious railroad accident happened on the Connecticut and Western Railroad, near Tariffville, about 12 miles from Hartford, at 10 o'elock on the night of the 15th. An excursion train, returning from the Moody and Sankey meeting at Hartford, fell through a trestle bridge into the Farmington River. Two engines, one baggage and three passenger cars went down. From 15 to 20 persons were reported killed and many others wounded. There have been several additional failures among the New York druggists, brought about by the suspension of Dunning, note broker. Davis Bros. & Co., leather dealers and Chas. Richardson & Co., paints and oils, are among the recent Boston failures. Gen. McClellan was publicly inaugurated as Governor of New Jersey on the 15th.

11. January 26, 1878 San Marcos Free Press San Marcos, TX

Article from San Marcos Free Press, January 26, 1878

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LATE NEWS ITEMS. Dispatches from various points in New England on the 7th report intense cold weather, ranging from 24 degrees below zero at Nashua, N. H., to 42 degrees below at Fort Fairfield, Me. Richmond (Va.) reports, same day, say that the ames River was frozen over, and in some-parts of the State the thermometer was below zero. The thirteenth annual Convention of the American Dairymen's Association assembled at Cleveland, O., on the 8th, with a large attendance of dairymen from the different States and Canada. The report of the Commissioners of Emigration shows the total number of aliens arrived at the port of New York last year was 54,536, a decrease of 16,729 compared with the previous year. The anniversary of the battle of New Orleans was celebrated in that city on the 8th by a grand military procession, In reference to the recent interference with United States revenue officers in the discharge of their duties in Union County, S. C., the Commissioner of Internal Revenue is informed that Governor Hampton has directed the Sheriff of Union County to see the law enforced, and proposes to remove the Trial Justice and disband the inilitia company implicated in the rescue of Federal prisoners at Spartansburg. The Second National Bank of St. Louis has gone out of business. All depositors are paid in full on demand. The Savings Bank at Garrettsville, o., closed its doors on the 9th. Assets said to be equal to liabilities. John F. Henry, Curran & Co., of New York City, the most extensive patent medicine house in the country, have been forced into bankruptcy, caused by the suspension a few days previously of E. J. Dunning, Jr., a leading banker and broker. Upon the recommendation of the United States Attorney and the Judges of the Western District of Arkansas, the President has commuted to imprisonment for life the sentences of Wm. J. Meaders and Thos. Robinson, convicted of murder, and Joshua Wade, convicted of rape, and sentenced to be hanged on the 18th inst. The officers of the Charter Oak Life Insurance Company, of Hartford, Conn., who are to be tried for conspiracy to defraud, escaped indictment for perjury in falsely swearing to the Company's condition, for the reason that there is no statute on which to convict them. The Legislature of last winter supposed that it had passed an act aiming at official perjury, but just before its passage some one ran a pen mark through that clause, and no one noticed the omission until it was too late. Railway postal mail service, to go into effect immediately, is ordered between St. Louis and Texas, by way of Little Rock, Ark. A large cattle shed at the stock-yards of Fairbanks's distillery, Terre Haute, Ind., was burned on the 13th, together with 300 of the 800 head of cattle confined therein. There is a general strike of Crispins at Lynn, Mass., and serious disturbances are threatened. Out of the 189 shoe manufactories in the city, only about one-fifth are running. The State Savings Bank of Trenton, N. J., suspended on the 12th. Chachapoyas, the capital of the Amazon, was recently visited by an earthquake which demolished several houses and damaged many others. Fortunately there was no loss of life. The walls swaying to and fro, the groaning of roofs, the noise of falling tiles, the walls cracking and throwing out clouds of dust, combined with the shrieks, groans and desperation of the agonized inhabitants, made a frightful scene. Callao also experienced a severe shock of earthquake, but no damage was done. The new tariff bill reduces the articles taxed from 2,160 to 400. Jason Leighton's camp on West River, above Cherryfield, Me., burned on the night of the 11th, and four of his children perished in the flames.

12. February 9, 1878 The New York Herald New York, NY

Article from The New York Herald, February 9, 1878

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TRENTON'S RUINED BANK. ITS OFFICERS BEFORE THE CHANCELLOR FOR REFUSING TO SUBMIT TO AN EXAMINATION. [BY TELEGRAPH TO THE HERALD. ] TRENTON, N. J., Feb. 8, 1878. Colonel Jacob R. Freese, and his son Louis, K., having refused to be examined before Receiver Shrevo with reference to the disposal made of the funds of the collapsed State Savings Bank, the Chancellor was appealed to for advice in the matter. Mr. Shreve wanted Louis to answer questions touching the loan of $45,000 made to him on his promissory note, in order, o ascertain what disposition he made of the money. Mr. Shreve therefore asked for a mandatory order compelling Freese 10 answer. THEY WANT TIME. G. D. W. Vroom, Freeso's counsel, asked the protection ot the Court, that he should not be required to answer, as Freese was under indictment for conspiracy in the Mercer courts, and the questions propounded were upon matters particularly charged in the indictment, the answers to which might tend to criminate him, as there was no hope for is postponement of the trial on the 18th Insi., and be would be at the disposal of the receiver after that time. THE COURT'S OFFICER TO BE SUSTAINED. The Chancellor said that if ne, bona tide, set up that the answer would criminate him he need not testily, but 11 he only believed it would tend to do so it was another matter. The receiver should not be circumscribed in his rights, and the matter should be probed to the bottom. Decision would be rendered at an early day. It is probable that the Freeses will ask for change of venue on the 18th, the day fixed for trial, on account of the strong feeling against them in this city.

13. February 16, 1878 The Cincinnati Daily Star Cincinnati, OH

Article from The Cincinnati Daily Star, February 16, 1878

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Mysterious FlightAssignment National Associated Press to the Star. TRENTON, N. J., Feb. 16.-There is considerable excitement in this city and vicinity over the sudden and mysterious disappearance of J. Vance Powers, Mayor of Chambersburg, adjoining this city. He was a member of the Legislature last year, and his vote elected John R. McPherson, United States Senator, and defeated Frederick T. Frelinghuysen. This fact alone gave Powers an uncommon notoriety, hence the flurry over his disappearance. He was first missed last Monday, and his wife was not notified by him of his intention of leaving. It is said he took with him a large sum of money belonging to Concordia Lodge of Odd-fellows, and also funds belonging to other parties. It is ascertained that yesterday Mrs. Powers received a letter from her husband's sister in Philadelphia, stating that she had just received a message from him desiring her to communicate with his family here, telling them he was in deep trouble and would write home in a few daysexplaining the difficulties with which he was surrounded. His accounts as head clerk in the American Saw-works are said to be all right. Col. Jacob R. Freeze, Treasurer of the defunt State Savings Bank, made an assigninent of his property, composed of houses in this city and Warren County and in Pennsylvania, which he values at $200,000. to be sold within one year, the proceeds to be paid to E. Mercer Shreve, Receiver of the bank, for the benefit of depositors: and the residue. if any, to be paid to Freeze. It is said the property altogether is not worth $50,000.

14. February 16, 1878 The Sun New York, NY

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Col. Freese Makes an Assignment. TRENTON, Feb. 15.-Col. Jacob R. Freese, the treasurer of the insolvent State savings bank, who is u. der indictment for conspiracy with his two sons to detrand the depositors, made an assignment of his property, consisting of houses in Trenton, a larm in Pennsylvania, and several farms in Hunterdon and Warren counties valued by him at about $200,000, to the Hon. William S. Yard, Phillip Dunn, and ex-Judge John Hamill. The condition of the deed is that the property is to be sold within a year. and the proceeds to be paid to E. Mercer Shreeve, the receiver of the bank. for the benefit or the depositors, and the residue, it any, to be paid to Freese or his agents. It is said that the property assigned is heavily incumber ed. and will not realize enough to make good the bank deficit.

15. February 16, 1878 Alexandria Gazette Alexandria, VA

Article from Alexandria Gazette, February 16, 1878

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Robbing Depositors. TRENTON, N. J., Feb. 16.-Yesterday after. noon Jacob R. Freeze, vice president and treas urer of the broken State Savings Bank of this city, made an assignment of all his real estate for the benefit of the savings bank. The propcrty which is valued by Mr. Freeze at about $250,000 is said to be very heavily mortgaged and consists of the residence now occupied by Gov. McCiellan and about a dozen stores and dwelling houses in this city besides several farms in Warren and Hoboken counties. The general supposition is that the incumbrances nearly equal the present marketable value of the property and will pay only a small dividend, if any, to the unfortunate depositors of the bank. A FAUQUIER SENSATION.-Madan Rumor is telling of a curious sensations at present in this county. It seems that about a year and ahalf ago a person purporting to be an Englishman and giving the name of Nevell Russell, came to this county and procured board in the house of Mrs. Lowis, a lady living near Broad Run station. The beardless face and otherwise effeminate appearance of the individual was much remarked, and questons as to his or her SOX were often raised. The person was generally regarded, however, as rather 8 singular looking man, till a short time ago when she was seen to board the train at the Plains station, attired in an expensive female outfit. Not long after came the news that it was a case of elopament-that she had run off with a negro man named Thomas, who lived in the neighborhood, and that they had been married in Georgetown. D. C. What led to the strange disguise under the peculiar circumstances, or what motives brought about the unnatural marriage is to be conjectured.-Warrenton Solid South. C. & O. CANAL-The bill for the relief of the C. & O. Canal, authorizing it to issue bonds to repair damages and to own and run its own boats, that passed the Maryland Senate Thurs. day. was taken up in the House of Delegates yesterday, and passed to its third reading, all the amendments offered being voted down. The Canal Company are pressing forward the TO. pairs to the canal made necessary by the freshet of last December, and expect to have them completed prior to the opening of the spring trade. In order to guard against future mishaps, the engineer has removed one of the seven locks and raised the tow path six feet higher than formerly, 80 A8 to prevent an overflow in case of freshet. The "Society News" that has heretofore been published in the Sunday Bulletin will be found in the Sunday Herald of to-morrow. feb16.1t We can name at least a score of people in Alexandria who have been permanently cured of rheumatism by the use of Durang's Rheumatic Remedy. Lodille's Headache Specific oures headache in 5 to 20 minutes. feb14-3t For a nice 60c man's hat call at the Boss Clothing House, Blondheim's old stand, cor. jan 30-tf King and Fairfax st. UPPER 1 The ladies of the BAPTIST CHURCH Will give & SUPPER, In the Lecture Room of the Church, on TUESDAY NIGHT, FEB'Y. 19, feb 16-3t for the benefit of the Church. CAROLINA RICE just received by J. C. & E. MILBURN. PRIMK

16. February 16, 1878 The New York Herald New York, NY

Article from The New York Herald, February 16, 1878

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COLONEL FR: EZE MELTS. [BY TELEGRAPH TO THE HERALD. 1 TRENTON, N.J., Feb. 15, 1878. Colonel Jacob R. Freeze, treasurer of the defunct State Savings Bank, has made an at gignment or his property, composed of houses in this city and farms in Hunterdon and Warren counties, and in PennsylVania, which he values at $200,000, to be sold within one year, the proceeds to be paid to E. Mercer Streve, receiver of the bank, for the benefit of the depositors, and the residue, if any, to be paid to Freeze. It is said the property altogether IS not wortn $50,000, exclusive of eucumbrances.

17. February 17, 1878 The New Orleans Daily Democrat New Orleans, LA

Article from The New Orleans Daily Democrat, February 17, 1878

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Assignment of a Savings Bank Treasurer. TRENTON. N. J., Feb. 16.-Col. Jncob R. Freeso, treasurer of the defunet State Havings Bank. made an assignment of his property, composed of houses in this city, Warren county and in Ponnsylvania, which he values at $200,000. to be sold within a year. and the proceeds to be paid to E M. Shreve, receiver of the bank. for the benefit of its depositors, and the résidue, if any, to be paid to Freeso, It is said that the property is not worth $50,000, exclusive of Ino combrance. o

18. February 18, 1878 The Wheeling Daily Intelligencer Wheeling, WV

Article from The Wheeling Daily Intelligencer, February 18, 1878

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Business Embarrassments. NEW YORK, Feb. 16.-Cammever & Mason, wholesale dealers in shoes, No. 84 Warren st., have failed. Liabilities, $180,000. One of the causes of the decline of 18 points in the price of cotton yesterday below the closing prices of the day before was the selling out of between 12,000 and 1 15,000 bales on account of the firm of a Leverich & Co., of No. 111 Pearl street, 1 who suapended yesterday. Their liabilities were reported to be between $20,000 I and $25,000. 1 A special from Trenton, N. Y, says : e Yesterday afternoon Jacob R. Freeze, vice 8 president and treasurer of the broken statesavings bank of this city, made an assignment of all his real estate for the e benefit of the savings bank. The property, which is valued by Mr. Freeze at about $250,000, is said to be very heavily mortgaged, and consists of the residence now ocenpied by Gov. McClellan and about a e dozen stores and dwelling houses in this city, besides several farms in Warren and 0 Hamilton counties. The general supposition is that the incumbrances are nearly equal to the present marketable value of the property and will pay only a small 1 dividend, if any, to the unfortunate de, positora of the bank. CINCINNATI, Feb. 16.-Jacob Kienzle, formerly of the firm of Diebold, Norris & Co, safe manufacturers, of this city, filed yesterday a voluntary petition in bankruptey. His accounts are all old ones, principally notes signed by the firm The unsecured claims against the petition. aggregate $20,000 accommodation paper, $150,000; discounted paper, $65,000. NEW YORK, February 17.-John B. Norris, of Greenleaf, Norris & Co., bankera' exchange place, this city, and President of the American District Telegraph Co, of Brooklyn, died last evening from congestion of the brain. CAMBRIDGE, O., February 16.-Boyd Sankey, of Knox Township; James Yoe, ) of Jefferson, and James Cald well, of Madison Township, in this county, each made an assignment yesterday. Their liabili. ties are not known.

19. February 26, 1878 New-York Tribune New York, NY

Article from New-York Tribune, February 26, 1878

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There was a good deal of sentencing of "respectable" people in the Mercer County Court, at Trenton, yesterday. Mr. Jacob R. Freese, late Vice-President of the State Savings Bank, at Trenton, for conspiracy to defraud the depositors and for embezzling the funds of that institution, was sent to the State Prison for a term of five years. His sons, L. K. Freese and Harry C. Freese, were sentenced, on the indictment for conspiracy, to the County Jail for six months. But there were other interesting cases before the court. Mr. Walter F. Bartlett, the defaulting Tax Receiver of the City of Trenton, upon four indictments, was consigned to the State Prison for two years. Then came Mr. J. A. Beecher, journalist, who, for a libel on Mr. H. S. Little, Clerk of the Court of Chancery, was committed for thirty days to the County Jail and ordered to pay a fine of $250. Here are further substantial evidences of "Jersey justice." The sentence of Colonel Freese may seem to be a hard one; but it is not so hard as the misfortune of the poor people who trusted him to keep their money, and found themselves so cheated ont of it. The sweep at the State Savings Bank seems to have been entire and clean. The depositors were of the poorer classes, and how much mischief this failure—the result of crime—may do among them, nobody can foresee. The case of Bartlett is not much better. In these times, to plunder a municipal treasury is to increase taxes, and people just now have neither the humor nor the ability to pay much larger ones. As for Mr. Beecher, journalist and reformer, his little lesson will not be thrown away, if it only teaches him to look before he leaps. Why is it? If one citizen of Princeton had shot another, would anybody have cared? But it is one college student and another, and the whole country pricks up its ears. And again: What! A West Point cadet murdered by another!—No; false report—only a private soldier shot. General chorus: Pshaw! As soon as the National party gets fairly into power it will pass an act making forty square rods an acre. Confidence will be restored at once and every farmer will be enabled to till just four times as much land as he now does. The latest Cabinet rumor says that Secretary Thompson is likely to resign before warm weather comes, for fear his arduous duties will injure his health. Mr. Thompson has never recovered from

20. February 26, 1878 The New York Herald New York, NY

Article from The New York Herald, February 26, 1878

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JERSEY JUSTICE. COLONEL FREESE GOES TO STATE PRISON FOR FIVE YEARS-BARTLETT, THE DEFAULTING TAX RECEIVER, TWO YEARS - AND AN EDITOR, FOR LIBEL, IS SENT TO JAIL AND FINED. TRENTON, Feb. 25, 1878. The Mercer County Court room in this city this morning presented a scene of unusual animation on account of the sentencing of five prominent citizensmen who had heretofore held high characters in the community. One, Colonel Jacob R. Freese, was at various times a candidate for Governor, and for many years past he took a prominent part in all movements for reform, retrenchment in public expenditures, reduction of taxation, &c., &c. He even went through the State delivering lectures to farmers on these subjects, and also proved himself to be an eloquent speaker. During all this time he held the position of treasurer of the State Savings Bank in this city, and his son. Harry c., acted as cashier. For a long time sespicions have existed in the minds of some people that this institution was unsound, in fact rotten to the core. Al last these doubts proved well founded, and 11 was discovered that over $50,000 belonging principaily to poor people, such as widows, laborers, mechanics, &c., had been pocketed by the Freese family. Louis K., one of the sons, had received over $40,000 on his note; but 11 is believed that this was only a blind, so to speak, to try and cover the lather's scheming dishonesty. The latter received all the money, be making his sons dupes and pliant tools 10 his Knavery. AD investigation was had into the affairs of the bank, a receiver was appointed and the three Freeses-Jacob R., Harry C. and Louis K.-were indicted by the Grand Jury for conspiracy to detraud the depositors and also for misappropriating the funds of the bank. To the indictments they at first pleaded not guilty, but subsequently retracted that plea and entered our o! non vult contendere. To-day they were called uptor sentence. Alter a long consultation with the other judges the Co:et Justice called Jacoo R. Freese to stand up. The Chief Justice theu said:-"-The Court regrets that in your case there has not been lound a single c.rcumstance of mitigation. You were indicted for embezzlung the moneys of the savings bank of which you were an officer. You were in a position of trust, but betrayed that trust which the people contided to you. You violated the law by combinations and weil arranged plans for a long period of time. You endeavored 10 shift the responsibility on your own children. The impressions you tried 10 create in your lavor are all false. You are the man who LOOK all the money. The sentence of the Court is that for embezzing you be contines ID the State Prison at hard labor for three years, and for the second offence, misappropriation. you be contined in the State Prison at naru labor for two years; the second term to commence at the exptration of the first, making the whole term five years." LED ASTRAY BY THEIR FATHER. Louis K. and Harry c. Freeze were then told to The Court said that it some as they were oues. different position from that bad been used us by stand stood because in their in up. they a cases peculiar tools had behaved of their him difficulty well father. under They in their father's directions, they had not revealing the situation of affairs, when the rosponsibility was endeavored to be shilled upon them. It was difficult to know what to do, but the Court had determined 10 punish them with leniency. Each was then sentenced to SIX months in the county Jall. A DISHONES TAX RECEIVER Walter F. Baillett. the defaulting receiver of taxes, was then called. His counsel, Mr. E. T. Green. made an appeal to have justico tempered with mercy. The Chief Justice, in addressing the prisoner, said he had been convicted of an offence that wis alarmingly common at the present time, the embezzling of public moneys WILD which he had been intrusted by his fellow citizens as a public officer, and it was necessary that offenders should understand that 16 was a State Prison offence. The Court telt sorry for bis family and friends, but the Court was here to protect the public against offenders, and the sentence was that he be countried in the State Prison for LWO years. MALICIOUS LIBEL. Joseph A. Beecher, being ordered to stand up, the Court said that the prisoner understood the position in which be had placed himself. He bad been indicted for libel. The Court was satisfied that the matter was published by nim with the tull knowledge that it was not true, and referred to the high calling of an editor and the powerful agency be had as his command. This was u case in which an editor bad knowingly and wilfully published a libel for mercenary mouves. That a gentleman of an honorable profession should lend himself to defamatory writings for purposes of gain was a disgrace to the profession to which he belonged. The offence was a grave one, but the Court was not here to vindicate the wronged party, but to repress and prevent the evil. The sentence was that be be imprisoned in the county jail for thirty days and that be pay a fine of $250. Beecher had published a libel on secretary ot State Kelsey and Henry S. Little, Clerk of the Court of Chancery. During the proceedings the court room was crowded to excess and the greatest interest was manifested by all. The case of Frauk F. Patterson, who had pleaded vult to an indictment charging him with libel, WAS non taken to the Supreine Court on u question of law.

21. May 24, 1878 The Sun New York, NY

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WHERE THE MONEY WENT. The Confession of a Son Implicating his Father In the Trenton Bank Case. TRENTON, N. J., May 23.-This afternoon Louis K. Freese, son of Col. Freese. late Trensurer of the State Savings Bank of this city, now a convict in the State Prison for embezzling the money of the depositors. made a confession to the receiver of the bank. E. Mercer Shieve, that out of the proceeds of the $44,000 note given by him to the bank he and his brother. Harry C., received only about $6,000 each. and that the Colonel kept the remainder. about $31,000. This is a surprise to those whom the elder Frecse had induced to believethat he was suffering for the sins of his sons. Louis K. Freese has turned over to Mr. Shieve between $6,000 and $8,000 worth of property to pay back the money given him on the note. The receiver finds a difficulty in examining the affairs of the bank. as the books of Freese & Co. have been spirited away to New York.