14752. Manufacturers Bank (Amsterdam, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 10, 1883
Location
Amsterdam, New York (42.939, -74.188)

Metadata

Model
gpt-5-mini
Short Digest
d920676b

Response Measures

None

Description

Article 1 (Dec 22, 1883) reports 'The Manufacturers Bank, a state institution, Amsterdam, N. Y., suspended on the 10th.' Article 2 (Jan 7, 1885) lists 'the Manufacturers' (Amsterdam)' among banks placed in the hands of receivers during the year—indicating the suspension (Dec 10, 1883) was followed by receivership/closure in 1884. No run is described and no specific cause is given in the texts.

Events (2)

1. December 10, 1883 Suspension
Cause Details
Article gives no reason for the suspension.
Newspaper Excerpt
THE Manufacturers Bank, a state institution, Amsterdam, N. Y., suspended on the 10th.
Source
newspapers
2. January 1, 1884* Receivership
Newspaper Excerpt
four banks --the Manufacturers' (Amsterdam) ... were placed in the hands of receivers.
Source
newspapers

Newspaper Articles (2)

Article from The Superior Times, December 22, 1883

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Article Text

GENERAL. NUDD'S leave-trough factory, Minneapolis, Minn., burned on the 14th. Loss $50,000. THE divorced wife of ex-United States Senator Christiancy, died a raving lunatic at New York City, on the 13th. THE Commercial Cable Company filed articles of association at Albany, N. Y., on the 12th. The stock is $4,000,000. It proposes to construct a telegraph line from New York to Cape Ann, Mass., through the New England states. Canada, and New Brunswick to Dover Bay; also from Cape Ann, by cable, to Ireland, England, Belgium, France and Spain. J. W. Mackey, J. Gordon Bennett and Hector DeCastro are the incorporators. J. P. BILLUPS & Co., cotton commission merhants. New York, failed on the 12th. Liabilities $400,000. ON the 11th, Mr. and Mrs. Wm. Vanderbilt gave a private ball at their residence, New York City. About 1,000 attended. The decorations were costly and handsome, and the affair rivalled the splendor of European court balls. THE Manufacturers Bank, a state institution, Amsterdam, N. Y., suspended on the 10th. It had a capital of $80,000, and deposits of $60,000. CHRISTIAN F. RICHER, a builder, Baltimore, Md., failed on the 10th. Liabilities $50,000. A RING, similar to the Tweed ring, is being unearthed in New York city. Misleading estimates for WO to be done are given out by the board of public works and friends notified of the real state of facts. The losses to. the city as far as discovered amount to over $6,000.000. ON be 9th. Rev. Wm. H. Hoyt, an assistant priest at St. Aun's Catholic Church. New York. while saying mass, was stricken with apoplexy. He 18 70 years of age.


Article from New-York Tribune, January 7, 1885

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Article Text

capital from $19,353,200 to $22,150,700, the deposits from $52,259,589 to $109,560,534, the loans and dis counts from $51,174,579 to $88,515,326, the profits and surplus from $7,236,465 to $11,792,902 and the total resources from $86,693,182 to $157,446,275. During the year ten banks, with an aggregate capital of $1,235,000, were granted certificates; of these, two-the Mechanics and Traders' and the Wall Street banks of New-York City-changed from the National to the State system. One bank, the Bank of Clayton, went into voluntary liquidation, paying its depositors in full. and four banks --the Manufacturers' (Amsterdam), Atlantic (Brooklyn), Wall Street (New-York) and the State Bank (Fort Edward)-were placed in the hands of receivers. With one exception it is thought that these banks will pay their depositors in full, and return a large percentage to the stockholders. CONDITION OF TRUST, LOAN AND MORTGAGE COMPANIES. The following summary of the condition of the twenty trust, loan and mortgage companies is given in the report: 1983 July 1. 1884.