Article Text
NYACK, N. Y., Dec. 28.-The Rockland county national bank. of Nyack, suspended payment this morning. Receiver Appointed. New Vonr Doe n to der
14587. Rockland County National Bank (Nyack, NY)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 1286
- Charter Number
- 1286
- Start Date
- December 28, 1877
- Location
- Nyack, New York (41.091, -73.918)
Metadata
- Model
- gpt-5-mini
- Short Digest
81d8f0c08c3cd5de
Response Measures
None
Description
The articles consistently report the Rockland County National Bank of Nyack suspended payments on Dec 28, 1877 and a receiver was appointed. Subsequent reports (Jan 10, 1878) state the stockholders voted the bank into voluntary bankruptcy/liquidation. No article describes a depositor run prior to suspension. The Tribune links the suspension to the failure of D. D. Smith, Jr. & Co., an external commercial failure that embarrassed the bank; this is coded as a local economic shock rather than an internal embezzlement or rumor.
Events (5)
1.
June 16, 1865
Chartered
- Source
- historical_nic
2.
December 28, 1877
Receivership
- Newspaper Excerpt
- The Rockland county national bank. of Nyack, suspended payment this morning. Receiver Appointed.
- Source
- newspapers
3.
December 28, 1877
Suspension
- Cause
- Local Shock
- Cause Details
- Reports say the recent failure of D. D. Smith, Jr., & Co. had done much toward embarrassing the institution.
- Newspaper Excerpt
- Great excitement pervaded our village this morning, following the closing of the Rockland National Bank doors, and the posting of a notice thereon by the president ... that the bank had suspended payment.
- Source
- newspapers
4.
January 10, 1878
Other
- Newspaper Excerpt
- The Rockland County National Bank ... which suspended payment December 28, was, by a vote of the stockholders to-day, thrown into voluntary bankruptcy.
- Source
- newspapers
5.
January 10, 1878
Voluntary Liquidation
- Source
- historical_nic
Newspaper Articles (13)
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Still Another Bank Suspension. NYACK, N. Y., Dec. 28.-The Rockland county national bank has suspended.
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has been arrested on a charge of robbing the United States mails. The President to day signed a full pardon for Frank S. Hinkle, convicted in November last of forgery. Courtney's Challenge. AUBURN, N. Y., Dec. 28. Courtney challenges any oarsman in the United States or Canada for any amount and the championship of America; the race to be rowed prior to the cricket match in July next. Bank Suspension. NYACK, N. Y., Dec. 28. The Rockland County National Bank has suspended.
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THE ROCKLAND NATIONAL BANK. NYACK, N. Y., Dec. 28.-Great excitement pervaded our village this morning, following the closing of the Rockland National Bank doors, and the posting of a notice thereon by the president, David J. Blauvelt, that the bank had suspended payment. It is rumored the recent failure of D. D. Smith, jr., & Co. had done much toward embarrassing the institution.
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Financial and Commercial Troubles. SUSPE NSION OF THE NYACK BANK. NYACK, N. Y., December 28.-The Rockland County National Bank, of Nyack, N. Y., suspended payment this morning. NEW YORK, December 28.-A receiver has been appointed for the Jersey City Savings Bank. OTHER BUSINESS TROUBLES. HALIFAX, N. S., December 28.-John B. Flowers, dealer in boots and shoes, has gone into insolvency. Edward Albro & Co., hardware merchants, are embarrassed. Liabilities, $160,000; assets, $100,000. FAILURE OF A REAL ESTATE SAVINGS INSTITUTION. ST. LOUIS, December 28.-The Real Estate Savings Institution has suspended. Assets, $450,000, mainly in bonds and mortgages. Liabilites to depositors, $255,000. It is thought the depositors will be paid in full, and perhaps the stockholders will receive something. The shrinkage of real estate and inability to realize on securities is the cause.
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THE Rockland County National Bank, a Nyack, suspended payment yesterday.
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ANOTHER BANK SUSPENSION. NYACK. N. Y., Dec. 28, 1877. The Rockland County National Bank, of Nyack, N. Y., suspended payment this morning.
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Near Barnesville, Md., on the 27th, Lord G. Jamison killed Thomas Warfield in a quarrel. Warfield was paying attention to Jamison's sister. G. A. Bailey, the publisher of the Congressional Globe, died at Deering, Me., on the 26th. Gen, George W. McCook, of Ohio, was stricken with paralysis while eating a Christ-mas dinner at the residence of his cousin, Hon. Anson G. Cook, of New York City, and died on the following Friday. The Rockland County National Bank, of Nyack, N. Y., has suspended.
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Domestic. Navigation of the Hudson river is closed by ice. Sixty negroes sailed from New York for Liberia, Monday. George Washington, colored, killed his brother-in-law at Washington. The Rockland county National Bank of Nyack, N. Y., suspended. W. W. Heaton, chief justice of the appellate court of Illinois, is dead. Shoemakers at Lynn, Mass., are striking. Savings bank at Launton, Mass., failed. Real Estate Savings Institution of St. Louis suspended; assets ample. Ralph Waldo Emerson has been elected a foreign associate of the French Academy of Moral Sciences. The ship Nimbus, with a cargo of wheat, was lost off Columbia river bar. Crew saved. One boy dangerously wounded another while firing at a target with a small pistol, at New Orleans. A negro knocked down, outraged and robbed a sixteen year old girl, in Washington city. The schooner Josephine, from Long Island City, for Orient, is supposed to healest, with five souls on board. Geo. B. Bigelow, a prominent Boston lawyer, is charged with embezsling $40,000 in trust funds. Jacob Harness was executed at Clinton, Tenn., for the murder of Isaac White in 1863.
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ROCKLAND COUNTY NATIONAL BANK. NYACK, N. Y., Jan. 10.-The Rockland County National Bank at this village, which suspended payment December 28, was, by a vote of the stockholders to-day, thrown into voluntary bankruptcy.
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NEWS SUMMARY. Eastern and Middle States The Rockland County National Bank of Nyack, N. Y., has suspended payment. The body of Herzberger, the engineer in the New York candy factory, where the recent terrible explosion took place, has been recovored from the ruins. By an explosion in a mine near Wilkesbarre, Pa., seven persons were injured, one mortally. Seventy-five thousand tons of Seranton coal were sold in New York at an advance on previous prices. The trustees of the West Boston Savings Bank voted to close up the institution in the most economical manner possible. After a trial of several days Mayor Ely withdrew the charge of inefficient and capricious enforcement of the laws, made against the police commissioners of New York. George M. Brooks' bank of Lowville, N. Y., has suspended payments, the liabilities being placed at $60,000. At a dinner given to General Banks in Boston Hon. Benjamin F. Butler made a speech, denonuciatory of the President for not upholding Packard and Kellogg in Louisiana. Five buildings were burned in Jamaica, Long Island, and a loss incurred of $12,000; and in Westerly, R. I., several houses were destroyed by fire, the damage being estimated at $80,000. At Boston, Mass., the arrest of George B. Bigelow, a well-known lawyer, took place on the charge of having misappropriated the sum $40,000, which was held in trust by him. The New York Legislature met in Albany and organized, James W. Husted (Republican) being elected speaker of the assembly. John Bonner & Co., well-known stock brokers of New York city, failed. The amount involved by their failure is about $1,000,000, and upon the heels of the financial fall of the firm came the suspension of the New York Bankers' and Brokers' Association, of which Mr. Bonner was president, and all of whose available resources be had utilized. Many bankers and brokers had left securities in the hands of the firm as collateral for loans, and these securities could not be found, as Bonner had fled from the city just before fhe crash. Three more bodies have been recovered from the ruins of the New York candy manufactory. The Pennsylvania Legislature met at Harrisburgh and organized. One hundred failures and assignments were reported in New York in December, the aggregate liabilities of which were nearly $8,000,000. Miss Lizzie Davis, aged nineteen was stabbed and instantly killed in her home in Ferndale, Pa., by John Haddock, aged twenty-one, who then proceeded to his house, & few doors off, and shot himself through the heart. Jealousy is believed to have led to the double tragedy. Thomas 8. Lambert, ex-president of the American Popular Life Insurance Company, of New York, recently found guilty of perjury in swearing to false statements of the company's condition, was sentenced to five years' imprisonment at hard labor in the State prison. A fire at Salem, N. J., destroyed a number of buildings in the business part of the place, doing damage to the extent of about $40,000. Two excise bills and & New York city charter amendment have been introduced in the New York Legislature. At a meeting of the directors of the Bull's Head Bank, of New York, it was resolved to wind up the affairs of the institution. Governor Conner was inaugurated at Augusta, Me., and Governor Rice at Boston, Mass. Four of the former managers of the Charter Oak Life Insurance Company, of Hartford, Conn., have been indicted for conspiring to defraud the policy holders, as alleged in the complaint. The Woburn Five Cent Savings Bank, of Woburn, Mass., has been enjoined from doing futher business : and the Rollinsford Savings Bank, of Salmon Falls, N. H., has given notice that it will pay up depositors as fast as possible and retire from business. A fire in Harrisburg, Pa., destroyed the malt house of B. M. Greider & Co., causing a loss of $70,000, on which there is $55,300 insurance and A fire in Franklin, Pa., burned down Bailey's block, causing a loss estimated at $30, 000, on which there is & partial insurance. Several vessels were wrecked and many lives were lost by a severe storm of wind and snow along the Atlantic coast in the vicinity of Cape
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NEWS SUMMARY. Eastern and Middle States The prices at the annual sale of pews in Plymouth Church were lower this year than in previous years. The sum paid for first choice was $550. The New Jersey Legislature met at Trenton and organized. George C. Ludlow was elected president of the Senate and John Egan speaker of the House, and Governor Bedle's message was received and read. At an election of the New York Bar Association, Secretary of State William M. Evarts was chosen president and ex-Governor Samuel J. Tilden one of the vice-presidents on the same ticket. The Republicans of New Hampshire met in State convention at Concord and nominated B. F. Prescott for Governor and David E. Willard for railroad commissioner. The platform adopted says in regard to President Hayes and his policy " While we admit honest differences of opinion in respect to past acts, we welcome and approve his sincere efforts to keep faith with the people, and secure to the whole country the blessings of a just, efficient, and honest Republican national administration. Other planks in the platform favor speedy resumption of specie payments, denounce any attempts to repudiate the public debt, declare for economy in public affairs and for education, approve of the efforts to extend commerce, and oppose further land grants. The Connecticut Legislature opened its 808sion and Governor Hubbell's message was read. The failure of Edward D. Dunning, Jr., a prominent Wall street broker, has taken place. His liabilities reach nearly $600,000 and among his creditors are a number of banks. John L. Pinkham, employed by Mrs. Marian Berry, of New Durham, N. H., a widow of sixtyfive, had a dispute with the old lady in regard to the payment for some work done. Procuring gun he entered Mrs. Berry's House and shot her dead Then he went; down the road half a mile and cut his throat. A large meeting of representatives of the leading banks, insurance and trust companies of New York, Boston and other cities was held in the former place, to protest against the passage by Congress of the Bland silver bill. A committee reported that the passage of that bill would operate unfavorably against specie resumption in 1879 ;" the return to business on a gold basis was urged, and & committee was appointed to memorialize Congress against the passage of the Bland bill. Theodore R. Wetmore, late vice-president of the defunct Security Life Insurance Company of New York, found guilty of assisting Mr. Case, the late president of the company, (who was recently sentenced for a term of years) in making misstatements of its condition, was sentenced to one year's imprisonment at hard labor and to pay a fine of $250.9 The Great Barrington (Mass.) Savings Bank has suspended payment pending an investigation by the State bank commissioners. The deposits are $407,000 and the total liabilities $414.000. And the stockholders of the Rockland National Bank, of Nyack, N. Y., have resolved that that institution should go into voluntary liquidation. At the annual meeting of the Plymouth Church Mr. Beecher sent a letter proposing reduction of one-fourth of his salary, and the offer was accepted. A resolution introduced in the New York s-embly. protesting against the passage of the Bland silver bill by Congress was passed by a vote of 105 to 17. A New York retired varnish dealer named Francis S. Wynkoop has failed for $282,000. C. P. Mills, of Williams College won the first prize at the annual inter-collegiate oratorical contest in New York. The paying teller of the Rochester (N. Y.) savings bank, Eugene A. Shepperdson, has proven a defaulter for $9,000, the cause of his ruin being fast horses and stock speculation. The commercial and financial community of New York was startled by a series of failures and suspensions. H. N. Cutter, & cotton broker, became & defaulter for & large amount and disappeared. The large wholesale drug firms of Hegeman & Co. and J. F. Henry, Curran & Co. became financially embarrassed by the heavy failure of E. J. Dunning, Jr., the note broker, and allowed their notes to go to protest. The Chatham mill in Philadelphia, occupied by manufacturers of carpet yarns and hosiery, was destroyed by fire, causing a loss of about $65,000, on which there is $50 000 insurance; and the shoe factories of A. R. Fisk at Wenham, Mass., and at Brookfield, in the same State, were burned, the loss on the former being $8,000 and on the latter $50,000. Another furious gale along the Atlantic coast caused a large number of maritime disasters. At Black Rock, Conn., Captain John P Britton, aged ninety, while temporarily insane committed suicide by shooting himself through the head. Four children belonging to James Leighton were burned to death in their father's camp near Cherryfield, Me. The thirteen men comprising the crew of the fishing schooner Little Kate, from Boston. were lost by the wrecking of their vessel off Duxbury. The crew all resided in North Boston, were related either by blood or marriage, and left seven widows and twenty-one fatherless children. At a meeting of Italian residents of New York resolutions of respect to the memory of King Victor Emmanuel were passed, and eulogies upon him were delivered. Bayard Taylor made a short address in Italian. Western and Southern States. Hon. Montgomery Blair presented a mamorial in the Maryland Legislature, praying that Congress make a judicial investigation into the title of President Hayes. The anniversary of the battle of New Orleans was celebrated in that city by a general military parade. At Cleveland, Ohio, the thirteenth annual convention of the American Diarymen's Association was held, diarymen from the different States and Canada being present. It was stated that butter and cheese were now bringing relatively higher prices than ever before. The exports of cheese last year to Great Britian-our chief custoumer-were 110,000,000 pounds, worth $13,000,000. Butter had also been exported to the amount of 14,000,000 pounds. Mrs. Mary Sipes died in Baltimore, aged ninety-nine years. She had seen every President of the United States, and had been an upholsterer in the White House during Jefferson's term. A call has been made for a meeting of the National Greenback party at Toledo, Ohio, on the twenty-second of February. The call was signed by Peter Cooper, Wendell Phillips and others. Governor Hampton has disbanded a South Carolina rifle company which recently made an attack on United States revenue officers and took a prisoner out of their hands. The Louisiana and Wisconsin Legislatures have organized. Governor Nicholls states that Louisiana's bonded debt is about $12,000,000. In Wisconsin the Democrats and Greenback men united and elected their candidate for speaker of the House. Two slight shocks of earthquake were felt lately in Illinois. George A. Pendleton was nominated for Senator from Ohio Demo-
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MMARY OF NEWS. Eastern and Middle States. According to the State census of New York for 1875, just published, the total population is 4,698.958, of whom the native born number 3,503,300 and the foreign 1,195,658. The latter comprises 517,377 from Ire'and: 367,851 from Germany 119,090 from England and the rest scattering. The whole number of voters in the State is 1,141, 462, of whom 747,280 are natives and 394,182 of foreign birth. The New York Aldermanic committee, investigating the ring frauds, have made a report, in which they state that the testimony taken disclosed frauds upon the city to the enormous amount of $30,000,000, of which sum only $876,000 has been recovered. The report states that all parties and organizations were represented in these enormous frauds and the committee are of the opinion that with the aid of the testimony taken the city can save over $2,000,000 in suits now pending against it. By a vote of thirteen to seven the New York board of aldermen passed a resolution to recommend to the attorney-general and corporation counsel the release of William M. Tweed from imprisonment after securing for the city such property as is still in his possession and after taking such means to secure his testimony in the future as may be deemed necessary. A great amount of damage was done by the recent severe storm on the Atlantic coast. Eight schooners and other vessels were driven ashore. The steamer Old Colony, of the New York and Fall River line, had an accident happen to her machinery and drifted helplessly at the mercy of a high sea for eleven hours. but was eventually towed out of danger into Newport by a wrecking company's steamer. J. F. Taft & Co.'s earthen and stoneware establishment at Keene, N. H., was destroyed by fire. Loss, $15,000 partially insured. The Thompsonville (Conn.) Savings Bank has been ordered to suspend business by the State bank commissioner until an examination into its affairs can be made. The Ellengowan coal breaker at Shenandoah, Pa., was destroyed by fire, and a loss caused of about $100,000 and a fire in a mine at Summit Hill. Pa., burned fiercely for a long time and did a large amount of damage. A fire that broke out in the building occupied by Houghton & Co., publishers, Cambridge, Mass., destroyed 70,000 sheets of a portion of Webster's dictionary, a large portion of the February number of the Atlantic Monthly, and an immense quantity of sheets of other works, entailing a loss of about $10,000. The Pottsville Bank of Pottsville, Pa., closed its doors to depositors upon a resolution of the board of directors. Resolutions in favor of remonetizing silver and repealing the resumption act have been introduced in the Pennsylavnia Legislature. Sarah Sharp and Etta Hazeltine, aged eleven and fifteen, broke through the ice on a pond near Hyannis, Mass., and were drowned. The annual auction of pews in Plymouth Church, Brooklyn, brought lower prices than in former years, $550 being the highest sum paid for pew. The New Jersey Legislature organized and elected George C. Ludlow president of the Senate and John Eagan speaker of the House. Governer Bedle's message was received. Hon. William M. Evarts was elected president of the New York Bar Association. and ExGovernor Samuel J. Tilden one of the vicepresidents on the same ticket. Mrs. Mariam Berry, of New Durham, N. H. a widow of sixty-four years, was shot dead in the presence of her family by John L. Pinkham, her hired man, with whom there had been some dispute in regard to the payment of wages. Pinkham was found half a mile away from the scene of the tragedy with his throat cut. Theodore R. Wetmore, late vice-president of the defunct Security Life Insurance Company of New York, found guilty of making false statements in regard to the company's condition, was sentenced to one year's imprisonment at hard labor in the penitentiary and a fine of $250. Mr. Case, the late president of the company, was recently sentenced to imprisonment for the same offense. Edward J. Dunning, a Wall street broker has failed for nearly $600,000, several banks being among his creditors. The Republican State convention of New Hampshire was held in Concord, and nominated B. F. Prescott. the pres nt incumbent, for governor and David S. Willard for railroad commissioner. The platform adopted denounced any legislation, open or disguised, tending to repudiate the public debt, favored resumption of specie payments, economy in public affairs. approved of the efforts to extend commerce, and opposed further land grants. In regard to President Hayes and his policy the platform says While we admit an honest difference of opinion in respect to his past acts, we welcome and approve his patriotic and sincere efforts to keep faith with the people, and secure to the whole country the blessings of a just, efficient and honest Republican national administration.' Pending an investigation by the Massachusetts bank commissioners the Great Barrington Savings Bank has suspended payment. The deposits amount to $407,000 and the total liabilities $414,000, In the New York Legislature a resolution was passed protesting against the passage by Congress of the Bland silver bill. At the annual inter-collegiate oratorical contest, held in New York, C. P. Mills, of Williams College, won the first prize. At the annual meeting of Plymouth Church a letter was read from Mr. Beecher, offering to give up one-quarter of his salary, and the offer was accepted. Francis B. Wynkoop, a retired New York varnish dealer, went into bankruptcy with 118bilities of $282,000. Engene A. Shepperdson, paying teller of the Rochester (N. Y.) savings bank, proved a defaulter to the extent of $9,000. He was ruined by fast horses and stock speculation. The stockholders of the Rockland county national bank, of Nyack, N. Y., voted that the institution should go into voluntary liquidation. Western and Southern States. Considerable excitement has been caused in the Black Hills by the discovery of a number of oil wells. The death is announced of the Hon. Richard Mumford Pierson, chief justice of the North Carolina supreme court, at the age of seventy. three. The drug manufactory of Murray & Nelson, Chicago, was burned. Loss, $20,000. William E. Smith, governor, and other State efficers of Wisconsin, were inaugurated at Madison. Brown's block at Lagrange, Ind., was destroyed by a fire. Loss, $30,000 partially insured. At Ripon, Wis., Kellogg's block was burned and a loss caused of $30,000, on which there is $25,000 insurance.