Bank of Albany - Albany, NY

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: August 18, 1893
Location: Albany, New York (42.653, -73.756)

Metadata

Model: gpt-5-mini
Short Digest: c145681f

Response Measures

None

Description

Article (Wilmington Daily Republican, 1893-08-18) reports the Bank of Albany, N. Y., has suspended with assets $110,000 and liabilities $80,000. No mention of a depositor run or reopening; reported among many contemporaneous suspensions during the 1893 banking troubles, so I classify cause as macroeconomic panic and the episode as a suspension that appears to be a failure/closure. No receiver is named in this brief notice, so closure is inferred from context (suspension listed among banks that suspended or closed).

Events (1)

1. August 18, 1893 Suspension

Cause: Macro News
Cause Details: Reported amid widespread business troubles and multiple bank suspensions in August 1893 (general banking panic/contagion).
Newspaper Excerpt: With assets of $110,000 and liabilities of $80,000. the Bank of Albany, N. Y., has suspended.
Source: newspapers

Newspaper Articles (1)

1. August 18, 1893 The Wilmington Daily Republican Wilmington, DE

Article from The Wilmington Daily Republican, August 18, 1893

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Article Text

Business Troubles. Levi Hall's private bank, at Oswego, III., has suspended. The National Bank at Marion, Kan., has closed its doors. The Farmers' Co-operative Bank, of Meadville, Pa., has suspended. The Iowa (Ia.) Packing House is in a receiver's hands. Capital, $120,000. A receiver has been appointed for the Baxter Carriage Company, of Greensburg, Ind. With assets of $110,000 and liabilities of $80,000. the Bank of Albany, N. Y., has suspended. The Dallas (Tex.) and Oak Cliff and the West Dallas Street Railway Companies are in the hands of receiver. Shoe Manufacturers Searle & Webster have assigned at Haverhill, Mass. Liabilities, $100,000; assets considerably smaller. With a capital of $200,000 and deposits of $520,890, the First National Bank of Dubuque, Ia., suspended yesterday. F. Grote & Co., dealers in ivory, etc., in New York, have applied for a receiver. Capital, $200,000; assets, $175,000; liabilities. $88,000. Assets of $300,000 and liabilities of only $100,000 are reported by the Frost Veneer Seating Company. which has assigned at Sheboygan, Wis. At Cincinnati, O., the Standard Wagon Company assigned yesterday, claiming to have assets of $1,200,000 and liabilities of only $700,000. The American Surety Company. of New York, has furnished a bond of $50,000 for each of the three receivers of the Northern Pacific Railroad. Because there was not a dollar left in the vaults of either the Sutton County Bank, of Sonora, Tex., or the Coke County Bank when they failed, W. B. Buchanan, president of both. has been arrested as an embezzier. On executions for $23,814.94 in favor of Levy Rothstein, the Sheriff yesterday levied on Daniel Block's tinware establishment, Nos. 62 and 64 Elizabeth street, New York. Apparent assests, $125,000; liabilities. $75,000. BANKS RECUME