Article Text
NEW YORK. Suspension of the Trenton Banking Company.
14356. Trenton Banking Company (Trenton, NJ)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- state
- Start Date
- July 30, 1875
- Location
- Trenton, New Jersey (40.217, -74.743)
Metadata
- Model
- gpt-5-mini
- Short Digest
33620d3b
Response Measures
None
Description
Newspapers report a suspension of the Trenton Banking Company (article dated 1875-07-30). Coverage links the bank's losses to the failure of Duncan, Sherman & Co. (a New York house), implying the suspension was driven by correspondent/creditor failure. No article indicates the bank reopened; legal action is described to recover deposits after the suspension. Classified as suspension_closure because suspension is reported and no reopening is documented.
Events (2)
1.
July 30, 1875
Suspension
- Cause
- Correspondent
- Cause Details
- Linked losses to the failure of Duncan, Sherman & Co. (New York); heavy failures elsewhere caused large losses to Trenton Banking Company (estimated $100,000).
- Newspaper Excerpt
- NEW YORK. Suspension of the Trenton Banking Company.
- Source
- newspapers
2.
December 16, 1875
Other
- Newspaper Excerpt
- A judgment was entered ... in favor of the Trenton Banking Company against Duncan, Sherman & Co. for $136,000 ... to recover money on deposit at the banking house at the time of its suspension.
- Source
- newspapers
Newspaper Articles (3)
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Article Text
but the active life to which he had ever accustomed would not admit of his se that retirement generally longed for by who have reached the goal of public h In 1872 he made an unsuccessful canva the election of Congressman at large Tennessee, but which defeat only nerve to further efforts, and last winter the Le ture of his State elected him United Senator. In the extra session of the S at the close of the last Congress he a ed and took his seat, participating to sor tent in the discussion of questions befor body. In his varied political career, he no commited many errors, and particularly serving the unexpired presidential te Mr. Lincoln, his policy toward the Sout his attitude to the party which placed } power, were deemed by many as detrin to the interests he wished to subserve, ye esty of purpose was never denied him, a has ever borne the reputation-rare in days-of an incorruptible statesman. NORTH CAROLINA CONVENTION The election for delegates to the Co tional Convention, provided by enactment the last Legislature, takes place to-day. question is, with the slightest exceptions of party. The present constitution was fi by a convention composed almost exclu of Republicans-white and black native carpet-baggers-and, according to our lection, contained but 12 Democrats ( ti-Republicans, who, of course, were I less. The Constitution and the Code o cedure under it, are modeled after the the State of New York, and while man ical changes from the old time ways, dis ful to the people, are introduced, it is claimed that many features of the p constitution are not adapted to the wan conditions of the people. Mainly, inst the ignorant and incompetent trial ju who have jurisdiction all over the Stat people desire to return to the courts of and quarter sessions, which gave uni satisfaction from the foundation of the government. The township system is al jected to. These, among many other tions, give the people plausible ground desiring a change. The canvass has conducted with an unusual degree of e ment, both parties having put forth the most strength in the contest. At the election, the Democrats carried the day majority of about 8,000, and it is highly able that they will elect a majority of gates who favor the proposed amendme RECENT HEAVY FAILURES. During the past week financial circles been excited over the announcement number of heavy failures, most prom among them being that of the banking of Duncan, Sherman & Co., of New whose liabilities are between five and six lions of dollars. The failures subseque announced were not precipitated by the ure of Duncan, Sherman & Co., nor probable that many business houses will riously involved thereby, though a sligl pression has been felt throughout the cou The heaviest losers, perhaps, are the Tr Banking Company, of Trenton, N. J. will lose $100,000 and Campbell & Ca bankers, of Toronto, have suspended they can hear the fate of Duncan, Shern Co's. foreign bills. The indebtedness o firm is about equally divided between country and Europe, a good proportion foreign liabilities being bills of credit i hands of Americans traveling in Et The disaster is generally attributed to causes-first, the large amount of una ble assets left on their hands by the fail Jay Cookein 1873, from which nothing be availed and secondly, to heavy opera in the purchase of cotton which prove profitable. The house has made an a ment for the benefit of its creditors, a whom are many private individuals wh their funds on deposit. Of other failures reported are the follo John Mason & Co., sugar importers of 1 delphia, liabilities $200,000; M. Y. Bt Co., grocers, of New York, failed for $55 though they claim to have assets amou to $90,000. J. B. Ford & Co., publishe New York. The liabilities and assets o house are not given. Their business is ly confined to the publication of Henry
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SUMMARY OF LAW CASES. Argument in the Barrmore contested will case was concluded yesterday afternoon before Surrogate Hutchings. Decision was reserved. Paul V. Gross, who was arrested on a charge of obtaining money under false pretences, has been honorably discbarged by the Grand Jury, there not being sufficient grounds for his indictment. Leave was granted yesterday by Judge Davis to William E. Butler, receiver of the Manufacturers and Builders' Bank, to sell, at $56 each, thirty-eight bonds or the Utica, Ithaca and Elmira Railroad Company pledged to the Chatham Bank to be paid on 120 days' drafts on England On application yesterday on behalf of the German Eptown Savings Bank, Mr. John E. Parsons was substituted, by order of Judge Davis, as counsel, in place of Adolph Levinger, under arrest upon a charge of embezzling the funds of the bank. An alternative mandamus was yesterday granted by Judge Davis against the Board of Health, directing it to enter on the burial records the name of Mary C. Goodwin, instead of Mary C. Goodman, or show cause why the alteration should not be made. The writ is made returnable morrow, A judgment was entered in the County Clerk's office yesterday in favor of the Trenton Banking Company against Duncan, Sherman & Co. for $136,000. The suit upon which this judgement was obtained was brought to recover money on deposit at the banking house at the time of its suspension. Application was made by Henrietta Hurt to the Su. preme Court some time ago for a writ of habeas corpus to compel her husband, who is separated from her, to Testore to her the custody of their child. The husband answered that the child died in Bellevue Hospital. To 5nd out whether this was the case the Court rejerred the matter to Nathaniel Jarvis, Jr. He reported yesterday in favor of the wife and against the husband's story that the child was dead. Catherine Davis, an administratrix, brought suit in the Superior Court, before Judge Freedman, against a William Hickman, to recover $5,000 damages for the death of her husband, caused, as 18 alleged, through the negligence of the defendant. The deceased was employed by the defendant in tearing down an old build. ing, and, as the widow claims, without proper facilities to do the work, and while so employed was killed. Judge Freedman yesterday dismissed the complaint, on the ground that no negligence had been shown. The case of Charles L. Lawrence, indicted in the United States Circuit Court, for the alleged forgery of the name of F.L. Blanding upon owner's oaths and Importer's entries, and also with presenting the same at the Custom House, with intent to defraud the United States, was continued yesterday until this morning. Application has been made by the counset for the defence to examine certain papers in the hands of the United States District Attorney, and he requested this delay for consideration of the request. Mr. Wade brought suit nineteen years ago against Anthony De Leyer for an accounting on a part-