Commercial Bank - Albany, NY

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: September 22, 1893
Location: Albany, New York (42.653, -73.756)

Metadata

Model: gpt-5-mini
Short Digest: 242c2484

Response Measures

None

Description

Article (1893-09-27) discusses impairment of the Commercial Bank's capital and that director notes have been paid to a receiver. No explicit mention of a depositor run or an earlier suspension text is present in the excerpt, but a receiver is referenced indicating the bank entered receivership/closure. Date of sworn statement is 1893-09-22.

Events (1)

1. September 22, 1893 Receivership

Newspaper Excerpt: six of the eight notes have already been paid to the receiver.
Source: newspapers

Newspaper Articles (1)

1. September 27, 1893 The Evening World New York, NY

Article from The Evening World, September 27, 1893

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Article Text

the bank was solvent: but the deponent states that he did say in an interview with a newspaper reporter that he had been criticising the methods of the bank for three years. Deponent further denies that the sum of $80,000 reported in the June statement of the Commercial Bank as liabilities was made up of eight notes of $10,000 each, which were given by the directors more than three years ago to make up an impairment at the bank, and states the fact to be as shown by the sworn report and the schedule accompanying it on file in this Department. that the $80,000 Item reported as liabilities consisted of two Items. as follows: $45,000 Bank of New York 35,000 People's Trust Company $80,000 Total Deponent denies on information obtained from the others of the bank that the said notes for $80,000 made by the directors of the bank were made to repair the impairment of the capital of the bank, but, on the other hand. that they were made as collateral security to the notes of one Hassel, which bad been discounted by the bank. and that the reason why said directors' notes were not put through the books of the bank was that they were there as collateral security only. Deponent is informed that six of the eight notes have already been paid to the receiver. CHARLES M. PRESTON. Subscribed and sworn to before me this 22d day JOHN J. ALLEN, of September, 1893. Notary Public, Rensselaer County, Certificate filed in Albany County.