National Albany Exchange Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 739
Charter Number: 739
Start Date: April 3, 1882
Location: Albany, New York (42.653, -73.756)

Metadata

Model: gpt-5-mini
Short Digest: 6216bf20

Response Measures

None

Description

Article is a U.S. Supreme Court report concerning tax litigation involving the National Albany Exchange Bank and explicitly names 'Chas. A. Hills, receiver' for the bank. No run or depositors' agitation is described. The presence of a receiver indicates the bank was in receivership (closure). Date taken from the newspaper (April 3–4, 1882).

Events (3)

1. January 23, 1865 Chartered

Source: historical_nic

2. April 3, 1882 Receivership

Newspaper Excerpt: No.817-Chas. A. Hills, receiver, et al., appellants, agt. the National Albany Exchange Bank.
Source: newspapers

3. January 10, 1885 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. April 4, 1882 New-York Tribune New York, NY

Article from New-York Tribune, April 4, 1882

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Article Text

UNITED STATES SUPREME COURT. WASHINGTON, April 3.-Upon the assembling of the United States Supreme Court this morning the oath of office was duly administered to Judge Blatchford, and he took his seat. But for the temporary absence of Justice Harlan, the bench would have been full for the first time since December 24, 1878. A decision was rendered in the life Insurance case of the Knickerbocker Life Insurance Company of New-York against Bartholomew Foley. The Court at the trial below charged the jury that the occasional use of intoxicating liquors did not make the deceased a man of intemperate habits, nor would an exceptional case of excess create such a condition as to justify the application of this character to him: that an attack of delirium tremens may sometimes follow a single excessive indulgence; and that if the habits of the assured in the usual or dinary and every day routine of his life were temperate the representations made were not untrue within the meaning of the policy, even although he might have an attack of delirinio tremens from an exceptional overindulgence. This view taken by the Court below is sustained and its judgment affirmed. Opinion by Justice Field. An important bank tax decision was rendered by the Court in the case of the Board of Supervisors of the County of Albany, N. Y., plaintiffs in error, against Ed. ward N. Stanley. brought here on a writ of error to the Circuit Court of the United States for the Northern Distriet of New-York. This action was brought by the defendant in error, a citizen of the State of Illinois, as assignee of certain stockholders of the National Albany Exchange Bank, to recover taxes to the amount of $62,000 forcibly collected from said stockholders and paid into the Treasury of the County of Albany upon assessments made in the years 1873 to 1878, both inclusive. This Court holds that the invalidity of a part of the State law does not necessarily invalidate it in toto; that if the valid and invalid parts of a statute are capable of separation only the latter are to be disregarded. In the present case the New-York State law of 1866, as construed by the Court of Appeals, is in conflict upon single point with a Federal statute; as far as that point 18 concerned it is invalid, but in other respects it must be held to be operative. if the plaintiff in this case had asked to have his debts deducted from the assessed valuation of his bank shares in the computation of his tax, and if his request had been refused upon the ground that such deduction was prohibited by the State law of 1866, then he would have been entitled to relief, because his grievance would have been a direct result of invalid provisions of the State act. That, however, is not the present case. It does not appear from the findings that any shareholder for whose refief this suit is brought, with the ception of C. P. Williams, ever asked to have his indebtedness deducted from his assessment, or had any such indebtedness to be deducted. Their cases, therefore, are covered not by the invalid. but by the valid, part of the State law. It follows from these considerations, first, that the assessors had authority under the valid part of the act of the New-York Legislature of 1866 to assess of debts no bank shares: National where that second, the owners existed to be deducted the assessment was valid valid and the tax paid under it a officers the that tax; third, assessing acted within their authority in such assessment 80 long as they were not informed in some proper manner that the shareholder owed just debts W hich he was entitled to have deducted. If they then proceeded in disregard of the act of Congress the assessment would be erroneous, and the case of Williams against Weaver shows how the error might be corrected. The judgment of the Court below 18 reversed, and the cause remanded, with directions to enter 2 judgment upon the finding of facts for the plaintiff on the seventh count for the amount of the tax paid by Williams, with interest, and on all the other counts for the defendants. No.817-Chas. A. Hills, receiver, et al., appellants, agt. the National Albany Exchange Bank. This case involves the same questions which are presented in the case of Supervisors agt. Stanley, above, and for the reasous there given the judgment in this case is also reversed and cause remanded. No. Evansville, National Bank agt. Thomas P. Britton, treasurer, etc.; and No. 1,156- Thomas P. Britton, treasurer, etc., agt. the Evansville National Bank. These are bank tax cases involving substantially the same questions raised in the two cases immediately preceding and are decided in accordance with the principles above set forth. Decrees affirmed. Justice Bradley dissents from the opinion of the Court in all of the above bank tax cases. Another important tax decision was rendered by the Court to day in the case of the Western Union Telegraph Company agt. the State of Texas, brought here upon a writ of error to the Supreme Court of Texas. This Court holds that a State may tax telegraph companies or measages sent over the wires or such companies at its discretion, where such messages pass between points with in the State limits, but the taxation of essages which originate or go outside the State is a regulation of interState commerce, and as such is beyond the power of the State. The taxation of Government messages is also unconstitutional. The other cases decided to-day were as follows: No. 156 George C. Rives agt. R. T. W. Duke, jr. Judgment affirmed with costs and interest. No. 241-The Cecil National Bank, of Port Deposit, and others agt. the Watsontown Bank. Decree, so far as it denies the appellaute the relief sought by their bill, reversed with costs and cause remanded. No. 215-The Marme and River Phosphate Mining and Manufacturing Company and others agt. William L. Bradley- affirmed with costs and interest, until paid rate of 12 percent per annum. No. 228-The United States agt. Naney Hunt, executrix,esc., and thers-Judgment reversed and cause remanded. No. Alfred Marchand agt. Henry Freilsen. Judgment affirmed with costs and interest. No. 244 Edward Mellon and others agt. the Delaware, Lackawauna and Western Railway Company Decree affirmed with costs and interest. No. 168-B. S. Russell agt Jesse P. Farley, receiver, etc. Decree affirmed with costs. No. -Cotesworth P. Head and others agt. Joseph P. Hargrave and others Judgment reversed with costs and cause remanded. No. 239-J. 11. Wade the town of Walnvt.-Judgnent attirmedwitngosts. No. 3-William Winslow and others agt. Bliss O. Vileox-Decreeaffirmed with costs. Winslow G. No.1.211-B1ssO Wilcox ag. William nd thers-Diamlased for want of jurisdiction. No. 501-The Memphis and Si. Louis Railroad Comany are John R. Loftin, collector, etc-Decree affirmed costs. 7-Original ex-parte, in the matter of William P. dayton-Perition for writ of prohibition denied. No. 166-David C. James agt. Micajah McCormicklotion to reinstate dented. The Chief Justice announced that the Court will hear ado arguments in cases after the 28th inst. and will burn for the term on Monday. May 8.