14746. National Bank of Albion (Albion, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Start Date
January 1, 1886*
Location
Albion, New York (43.246, -78.194)

Metadata

Model
gpt-5-mini
Short Digest
c24b8f1c

Response Measures

None

Description

Newspaper articles report that the National Bank of Albion failed in 1886 and was placed in the hands of a receiver (A. or W. Anderson). Failure was caused by the president George H. Warner's embezzlement/speculation losses (~$225,000). Later (1888-04-26) the receiver sued brokers and won a verdict — included as an 'other' event. No run is described in these items.

Events (2)

1. January 1, 1886* Receivership
Newspaper Excerpt
In 1886 the National Bank of Albion, N. Y., failed and was placed in the hands of W. Anderson, receiver.
Source
newspapers
2. April 26, 1888 Other
Newspaper Excerpt
The receiver began suit against Kissam, Whitney & Co. ... To-day the jury brought in a verdict for the bank for $103,000 and $46,000 interest.
Source
newspapers

Newspaper Articles (10)

Article from Evening Star, April 26, 1888

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Article Text

Important Decision Against Brokers HELD RESPONSIBLE FOR MONEY LOST IN SPECULA TION BY A BANK OFFICIAL NEW YORK, April 26.-In 1886, the National Bank of Albion, N. Y., talled, and was placed in the hands of W. Anderson, receiver. The prestdent, Geo. H. Warner, had run away to Canada after having lost $225,000 of the bank's money in stock specuation through Kissan, Whitney & Co., stock brokers of Wall street, this city. The recriver began suit against Kissan, Whitney & Co., for the recovery of this money, claiming that they had guilty knowledge of Warner's peculations, and knew that he was using the bank's money In specuating. For ten days past the case has been on trial in the United States Circuit Court before Judge Wallace, To-day the jury brought in a verdic. for the bank for $103,000 and $46,000 interest,


Article from Seattle Daily Post-Intelligencer, April 27, 1888

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Article Text

Verdies is a Bank Case. New YORK, April 26.-In 1886 the Ns. tional Bank of Albion, N. Y., failed and was is the hands of a receiver. President Warner had run away to Canada after having lost $225.00 of the bank's money in stock speculation, through Kissam, Whitney & Co., stock brokers of this city. The receiver began & suit against Kimeam, Whitney & Co. for the recovery of this amount. and today the jury brought in a verdictin favor of the back for $103,000 and $46,000 interest.


Article from The Memphis Appeal, April 27, 1888

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Article Text

A Bank Wins a Suit. NEW YORK, April 26.-In 1886 the National bank of Albion, N. Y., failed and was placed in the hands of W. Anderson, receiver. The president, George H. Warner, had run away to Canada after having lost $225, 000 of the bank's money in stock speculations through Kissam, Whitney & Co., stock brokers of Wall street, this city. The receiver began suit against Kissam, Whitney & Co. for the recovery of this money, claiming that they had guilty knowledge of Warner's speculations, and knew that he was using the bank's money in speculating. Forte days past the case has been on trial in the United States circuit court before Judge Wallace. Today the jury brought in a verdict for the bank for $103,000 and $46,000 interest.


Article from Los Angeles Daily Herald, April 27, 1888

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Article Text

LEGAL GRIST. Judgment of the Courts-Verdict for the Albion Bank. NEW YORK, April 26.-In 1886 the National Bank of Albion, New York, failed, and was in the hands of a receiver. President Warner had run away to Canada after having lost $225,000 of the bank's money in stock speculations, through Kissam, Whitney & Co., stock brokers, of this city. The receiver began suit against Kissam, Whitney & Co. for the recovery of this amount, and the jury to-day brought in a verdict in favor of the bank for $103,000 and $46,000 interest.


Article from The Morning News, April 27, 1888

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Article Text

PARTIES TO A CRIME. A Jury Finds That the Stock Brokers Knew of a Banker's Crookedness. NEW York, April 26.-In 1886 the National Bank of Albion, N. Y., failed, and was placed in the hands of W. Anderson, receiver. President George H. Warner had run away to Canada, after having lost $225,000 of the bank's money in stock speculation through Kissane, Whitney & Co., stock brokers of Wall street, this city. The receiver began suit against Kissane Whitney & Co., for recovery of this money, claiming that they had a guilty knowledge of Warner's speculations and knew that he was using the bank's money in speculating. For ten days past the case has been on trial in the United States Circuit Court before Judge Wallace. To-day the jury brought in a verdiot for the bank for $103,000 and $46.000 interest.


Article from The Daily Times, April 27, 1888

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Article Text

Important Decision Against Brokers. NEW YORK, April 26.-In 1886 the National Bank of Albion, N. ¥., failed, and was placed in the hands of W An. derson, receiver. The president, George II. Warner, had run away to Canada af. ter having lost $225,000 of the bank's money in stock speculation through Kissan, Whitney & Co., stock brokers of Wall street, this city. The receiver began suit against Kissan, Whitney & Co., for the recovery of this money, claiming that they had guilty knowledge of Warner's peculations, and knew that he was using the bank's money in speculating For ten days past the case has been on trial in the United States Circuit Court before Judge Wallace To-day the jury brought in a verdict for the bank for $103,000 and $46,000 interest.


Article from The Cheyenne Daily Leader, April 27, 1888

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Article Text

Judgment Against Stock Brokers. NEW YORK, April 26. -In - 1886 the national bank of Albion, N. Y., failed and was put in the hands of a receiver. President Warner had run away to Canada after having lost $225,000 of the bank's money in stock - speculations through Kissain, Whitney & Co., stock brokers of this city. The receiver began suit against Kissain, Whitney & Co., for the recovery of this money, and to dav the jury brought in a verdict for the bank for $103,000 and $46,000 interest.


Article from Springfield Daily Republic, April 27, 1888

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Article Text

A Just and Interesting Decision. NEW YORK. April 27.-In 1886 the National Bank of Albion. N. Y., failed and was placed in the hands of W. Anderson, receiver. The President, George H. Warner, had run away to Canada, after having lost $325,000 of the bank's money in stock speculations, through Kissam, Whitney & Co., stock brokers of Wall street, this city. The receiver began suit against Kissam, Whitney & Co. for the recovery of the money, claiming that they had guilty knowledge of Warner's speculations and knew that he was using the bank's money in speculation. For ten days past the case has been on trial in the United States Circuit Court before Judge Wallace. To-day the jury brought in a verdict for the bank for $103,000 and $46,000 interest.


Article from The Sun, May 3, 1888

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Article Text

Ceneral News Items. The committee to select a place for the annual convention of the German Baptists of the United States, has decided on Harrisburg, Va. The convention will be held the first Tuesday after Whit-Sunday in 1889. A jury in the city court at Mobile returned a verdict giving $25,000 damages in favor of G. Hall, a brakeman, against the Louisville & Nashville Railway Company. Hall was knocked from a freight train by a low bridge on the Mobile & Montgomery division of that road, and had to have his foot amputated. The Montana democratic territorial.com vention elected Martin Maginnis and Thomas Marshall delegates to the St. Louis convention. W. A. Clark was chairman of the convention. Messrs. Davidson and Savage were chosen as alternates. The delegates were not instructed, but are presumed to be for Cleveland. The administration was endorsed by the convention. The committee of five appointed by the anti-administration Knights of Labor convention held in Chicago last October, have issued a circular to the order declaring that it had dwindled in numbers from 702,000 to 240,000: that Powderly's special call to get funds for lecturers was in reality to get funds to keep the order out bankruptcy till the next convention, and calling on all true Knights to join the opposition and help reorganize the order. St. Paul and Central New York parties have filed at Yakima, and Olympia, W.T articles of association with a capital of $500,000 for an irrigation ditch sixty miles long, from the canyon of Yakima river. which will water over 200,000 acres of valuable land in the valley. The surveys are made and the work will begin this season, and will be finished in time for next season's irrigation. Twenty-six thousand acres are already entered under the desert land act. In 1886 the National Bank of Albion, N. Y., failed and was placed in the hands of A. Anderson, receiver. The president, George H. Warner, had gone to Canada after having lost $225,000 of the bank's money in stock speculations through Kissam, Whitney & Co., stock-brokers of New York. The receiver brought suit against the firm, claiming that they had guilty knowledge of Warner's speculations and knew that he was using the bank's money in speculating. The jury brought in a verdict for the bank for $149,000. The situation at the Edgar Thompson Steel Works near Pittsburg, is viewed with much apprehension. A mob of several hundred Hungarians and Poles gathered at a place close to the company's property and laid in wait for a party of Hungarian operatives that had refused to join the strikers. The men had been engaged for the night turn. As soon as the workmen came near where the strikers were gathered, the latter assaulted them with clubs etones and bricks. The workmen broke and fled in every direction. the strikers chasing them with the vilest imprecations and threats if they attempted to return to work. One of the largest real estate transactions that has ever taken place in St. Paul has just been completed. The amount involved is not made public, but it is understood that the sum is $485,000. The property sold was portions of the Davidson estate, and includes 115 feet on Fourth street, between the new Pioneer Press building and the First National bank, sixty-tive feet on Robert street next the new Pioneer Press building, 135 feet on Fifth street, between Robert and Jackson streets, and 200 feet on the corner of Sixth and Cedar streets. All the property was sold to Henry Endicott, of Boston, a relative of Secretary Endicott.


Article from The Worthington Advance, May 3, 1888

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Article Text

Ceneral News Items. The committee to select a place for the annual convention of the German Baptists of the United States, has decided on Harrisburg, Va. The convention will be held the first Tuesday after Whit-Sunday in 1889. A jury in the city court at Mobile returned a verdict giving $25,000 damages in favor of G. Hall, a brakeman, against the Louisville & Nashville Railway Company. Hall was knocked from a freight train by a low bridge on the Mobile & Montgomery division of that road, and had to have his foot amputated. The Montana democratic territorial convention elected Martin Maginnis and Thom. as Marshall delegates to the St. Louis convention. W. A. Clark was chairman of the convention. Messrs. Davidson and Savage were chosen as alternates. The delegates were not instructed, but are pre. sumed to be for Cleveland. The administration was endorsed by the convention. The committee of five appointed by the anti-administration Knights of Labor convention held in Chicago last October, have issued a circular to the order declaring that it had dwindled in numbers from 702,000 to 240,000; that Powderly's special call to get funds for lecturers was in reality to get funds to keep the order out bankruptcy till the next convention, and calling on all true Knights to join the op. position and help reorganize the order. St. Paul and Central New York parties have filed at Yakima, and Olympia, W. T., articles of association with a capital of $500,000 for an irrigation ditch sixty miles long, from the canyon of Yakima river. which will water over 200,000 acres of valuable land in the valley. The surveys are made and the work will begin this season, and will be finished in time for next season's irrigation. Twenty-six thousand acres are already entered under the desert land act. In 1886 the National Bank of Albion, N. Y., failed and was placed in the hands of A. Anderson, receiver. The president, George H. Warner, had gone to Canada after having lost $225,000 of the bank's money in stock speculations through Kissam, Whitney & Co., stock brokers of New York. The receiver brought suit against the firm, claiming that they had guilty knowledge of Warner's speculations and knew that he was using the bank's money in speculating. The jury brought in a verdict for the bank for $149,000. The situation at the Edgar Thompson Steel Works near Pittsburg, is viewed with much apprehension. A mob of several hundred Hungarians and Poles gathered at a place close to the company's property and laid in wait for a party of Hungarian operatives that had refused to join the strikers. The men had been engaged for the night turn. As soon as the workmen came near where the strikers were gather. ed, the latter assaulted them with clubs stones and bricks. The workmen broke and fled in every direction. the strikers chasing them with the vilest imprecations and threats if they attempted to return to work. One of the largest real estate transactions that has ever taken place St. Paul has just been completed. The amount inyolved is not made public, but it is un. derstood that the sum is $485,000. The property sold was portions of the Davidson estate, and includes 115 feet on Fourth street, between the new Pioneer Press building and the First National bank, sixty-nve feet on Robert street next the new Pioneer Press building, 135 feet on Fifth street, between Robert and Jackson streets, and 200 feet on the corner of Sixth and Cedar streets. All the property was sold to Henry Endicott, of Boston, a relative of Secretary Endicott.