14786. Merchants Bank (Binghamton, NY)

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 21, 1895
Location: Binghamton, New York (42.099, -75.918)

Metadata

Model: gpt-5-mini
Short Digest: 90058a8f

Response Measures

None

Description

State bank examiner took possession and ordered the Merchants' Bank closed on Jan 21, 1895 after finding a deficit; a receiver (G. W. Dunn) was later appointed. There is no clear evidence of a depositor run causing the closure — the action was government-directed following the examination. A related private bank (Erastus Ross & Sons) suspended temporarily but the primary episode concerns the Merchants' Bank.

Events (2)

1. January 21, 1895 Suspension

Cause: Government Action
Cause Details: State Bank Examiner Clark, acting on instructions from Superintendent Preston, found a deficit of $45,683.18 after marking down securities and took possession, ordering the bank closed.
Newspaper Excerpt: State Bank Examiner Clark ... ordered the doors of that institution closed. ... there was a deficit of $45,683.18 in the assets.
Source: newspapers

2. January 31, 1895 Receivership

Newspaper Excerpt: G. W. Dunn has been appointed receiver for the defunct Merchants' Bank of Binghamton, N. Y.
Source: newspapers

Newspaper Articles (20)

1. January 22, 1895 New-York Tribune New York, NY

Article from New-York Tribune, January 22, 1895

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BINGHAMTON MERCHANTS BANK CLOSED. A DEFICIT OF OVER $45,000 IN ITS ASSETS-THE PRIVATE BANK OF ERASTUS ROSS & SONS SUSPENDS TEMPORARILY. Binghamton, N. Y., Jan. 21.-State Bank Examiner Clark, who for several days has been examining the books of the Merchants' Bank of this city, at about noon to-day ordered the doors of that institution closed. The president of the bank is Erastus Ross, and his sons, Frederick E. and Clinton, are respectively cashier and assistant casnier. The excitement occasioned by the closing of the Merchants' Bank was soon heightened by the announcement that the private bank of Erastus Ross & Sons had also temporarily suspended, pending an investigation of its affairs. In consideration of the sum of $1, Ross & Sons have given to the Merchants' Bank a general mortgage for $10,000 on two business blocks owned by them to secure their indebtedness. At 12:35 p. m., all the members of the Ross family made a general assignment to State Senator Edmund O'Connor. It is believed that the depositors of the Merchants' Bank will be paid in full. The private bank 01 Ross & Sons to-day returned all deposits made this morning. It is declared that this concern is in no way involved. The Ross family are among the wealthlest and most prominent in this city, and own much valuable property in and near Binghamton. Erastus Ross gave Ross Park to this city, Albany, Jan. 21.-State Bank Examiner Clark today took possession of the Merchants' Bank of Binghamton, on the ground of its insolvency, by order of Charles M. Preston, State Superintendent of Banking. Mr. Clark, in the course of a regular examination of the bank on Thursday, found that there was a deficit of $45,683.18 in the assets. This deficit was caused by the examiner marking down the securities held by the bank. A year ago, at the last examination made by the Banking Department, the bank had a surplus of over $56,000. The bank's capital is $100,000. Examiner Clark at once reported the result of his examination to Superintendent Preston, who directed him to take immediate possession of the bank. The case will be referred to the AttorneyGeneral, with the request that he take steps to wind up the affairs of the bank.

2. January 22, 1895 The Morning News Savannah, GA

Article from The Morning News, January 22, 1895

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BANKS SHUT AT BINGHAMTON. Two Concerns Close Their Doors-Depositors Probably Safe. Binghamton, N. Y., Jan. 21.-State Bank Examiner Clark, who for several days past has been examining the books of the Merchants' Bank of this city, ordered the doors of that institution closed about noon to-day. The president of the bank is Erastus Ross, and his sons, Frederick E., and Clinton, are respectively cashier and assistant cashier. The excitement occasioned by the closing of the Merchants' Bank was soon augmented by the announcement that the private bank of Erastus Ross & Sons had temporarily suspended payment, pending an investigation of its affairs. In consideration of the sum of $1. Ross & Sons have given a general mortgage on two business blocks owned by them, for $10,000 to the Merchants' Bank to secure their indebtedness. At 12:35 o'clock p. m. all the members of the Ross family made a general assignment to Senator Edmund O'Connor. It is believed that the depositors of the Merchants' Bank will be paid in full. The private bank of Ross & Sons to-day returned all deposits made this morning. It is claimed that this concern is in no way involved. The Ross family is one of the wealthiest and most prominent in this city, and own much valuable property in this city and vicinity. Erastus Ross was the donor of Ross park to this city.

3. January 22, 1895 The Times Richmond, VA

Article from The Times, January 22, 1895

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Fature of Erastus Ross. BINGHAMPTON, N. Y., Jan. 21.-State Bank Examiner Clark, who for several days past has been examining the books of the Merchants Bank, of this city, ordered the doors of that institution closed about noon to-day. The president of the bank is Erastus Ross, and his sons, Fred. E. and Clinton, are respectively cashier and assistant cashier. The exentement occas.oned by the closing of the bank was soon augmented by the announcement that the private bank of Erastus Ross & Sons had temporarily suspended payment pending an investigation of its affairs. Inconsideration of the sum of $1 Ross & Sons have given a general mortgage on two business blocks owned by them for $10,000 to the Merchants Bank to secure their indebtedness. Alt 12:35 P. M. all the members of the Ross family made a general assignment to Senator Edmund O'Connor. It is believed that the depositors will be paid in full. The private bank of Ross & Sons to-day returned all déposits made this morning. It is claimed that this concern is not involved. The Ross family is one of the wealthiest in this city, and own much valuable property in this city and vicinity. Erastus Ross was the donor of Ross Park to this city.

4. January 22, 1895 The Sun New York, NY

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BANK FAILURES IN BINGHAMTON. The Merchants' Bank and the Private Bank of Its President and Cashier Closed. BINGHAMTON, Jan. 21.-State Bank Examiner Clark, who for several days has been examining the books of the Merchants' Bank of this city, found that there was a deficit in the assets of the bank amounting to $45,683.18. This deficit was caused by the examiner marking down the securities held by the bank. A year ago, at the last examination made by the Banking Department: the bank had a surplus of over $56,000. The bank's capital is $100,000. Examiner Clark at once reported the result of his examination to Superintendent Preston, and the latter directed him to take immediate possession of the bank. Mr. Clark took possession of the bank at noon to-day and ordered the doors closed. The President of the bank is Erastus Ross, and his sons, Fred E. and Clinton, are respectively cashier and assistant cashier. The excitement occasioned by the closing of the Merchants' Bank was soon augmented by the announcement that the private bank of Erastus Ross & Sons had also temporarily suspended payment. pending an investigation of its affairs. In consideration of the sum of $1. Ross & Sons have given a general mortgage for $10,000 on two business blocks owned by them to the Merchants' Bank, to secure their indebtedness. At 12:35 P. M. all the members of the Ross family made a general assignment to Senator Edmund O'Connor. and the private bank of Ross & Sons returned all deposits made this morning. It is said that this concern is in no way involved. The Ross family is one of the wealthiest and most prominent in Binghamton, and own much valuable property in the city and vicinity. Erastus Rose was the donor of Ross Park to the city.

5. January 23, 1895 New-York Tribune New York, NY

Article from New-York Tribune, January 23, 1895

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THE BANK EXAMINER BLAMED. Binghamton, N. Y., Jan. 22.-A rumor gained credence here this afternoon that Colonel George W. Dunn, formerly clerk of the Assembly, will be appointed receiver of the Merchants' Bank, which closed its doors yesterday. The main topic of conversation to-day has been with regard to the action of Bank Examiner Clark in allowing the doors of the Merchants' Bank to open yesterday morning, thus allowing some of the heavy depositors and stockholders to withdraw their funds. The papers from the Superintendent of Banks at Albany reached here Sunday afternoon and in them the examiner was instructed not to open the doors of the bank Monday at all. This, however, was done, and it is understood that action will be instituted against him to ascertain his right for disobeying the orders of the Superintendent. At the private bank of Erastus Ross & Sons there was no sign of life to-day, the offices seeming to be empty. It is understood that the amount in this institution owing to depositors aggregates nearly $90,000. There appears to be a shortage of a little over $30,000. There was no run at any of the other banks to-day, the only change from the ordinary run of business being observed in the increased number of new deposits.

6. January 24, 1895 The Scranton Tribune Scranton, PA

Article from The Scranton Tribune, January 24, 1895

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NEW MILFORD. The last reports from the Brooklyn, Pa., oil district states that a depth of 2,500 feet has been reached, with encouraging indications, and that subscriptions are promised to continue 500 feet deeper if necessary. The failure of the Merchants' bank, at Binghamton, caused a wave of excitement in this place, as some of our moneyed individuals, had deposits in that institution. Favorable reports this morning give the outlook a brighter appearance. Professor Hanrahan's dancing class at the Opera house tomorrow evening. Miss Inez Shelp has returned from a visit among friends in southern New York. Bradford and Wayne county papers are running over with agitation in the Fifteenth district. The Wright man for the position can be found in the county of Susquehanna. Rev. F. H. Cooper, of Binghamton, gave a very interesting lecture last evening at the Baptist church. Subject, "Other Peoples' Mistakes." Harvey S. Rice post, Grand Army of the Republic, will hold a bean bake in Odd Fellows' hall Tuesday evening, Jan. 29.

7. January 25, 1895 Vermont Phœnix Brattleboro, Bellows Falls, Ludlow, VT

Article from Vermont Phœnix, January 25, 1895

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Persian Earthquakes. A City Destroyed and 100 Women Crushed in One Bath. The London Times correspondent in Teheran, Persia, telegraphs under Saturday's date: "The city of Kuchan, which an earthquake destroyed 14 months ago, and which was immediately rebuilt, was again destroyed on the 17th. Many were killed. A hundred women were crushed in one bath. The extent of the damage and the number of deaths are unknown as yet. The bitterest cold increases the suffering. Four distinct shocks were felt in Meshed during the last few days, but no damage was done." The authorities are said to have closed all the colleges in Armenia and to have imprisoned 35 American professors. Richard W. Meagher, 27, was shot and killed at Natick, Mass., Saturday night by Hiram Ring, 60, keeper of a boarding house. The murder grew out of labor troubles. The Knights of Labor lost upwards of 100,000 members Saturday, when delegates of the National trades' association, representing brass workers, voted to secede from the order. The Merchants' bank of Binghamton, N. Y., has closed its doors. There is a deficit of $45,683 in its accounts. The private bank of Erastus Ross & Sons has also temporarily suspended payment. Erastus Ross is president of the Merchants' bank. "Bob" Fitzsimmons, the pugilist, was indicted in Syracuse, Saturday, for manslaughter. At a performance in a theatre in that city last November, Con Riordan, his sparring partner, was knocked out by Fitzsimmons and died a few hours afterwards.

8. January 25, 1895 Frederick Citizen Frederick, MD

Article from Frederick Citizen, January 25, 1895

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OPENED ITS DOORS. How the Merchants' Bank Examiner Disob yed Orders. Binghamton, N. Y., Jan. 23.-A rumor gained credence here that Col. George W. Dunn, ex-clerk of the assembly, will be appointed receiver of the Merchants' bank, which closed its doors yesterday. Senator O'Connor, when asked his opinion as to whether he thought the bank would resume, said he was perfectly willing to co-operate in any way within his power that would tend to put the bank firmly on its feet again The senator is the assignee of all the property of the members of the Ross family, the largest stockholders in the Merchants' bank. The main topic of conversation has been with regard to the action of Bank Examiner Clark in allowing the doors of the Merchants' bank to open, thus allowing some of the heavy depositors and stockholders to withdraw their funds.

9. January 25, 1895 Frederick Citizen Frederick, MD

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10. January 26, 1895 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, January 26, 1895

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MORE BANKS INVOLVED. Binghampton, New York Surprised by the Defalcation Of Cashier Morgan of the Chenango Val ley Savings Bank Who is Also Treasurer of the Broome County National Bank. Binghampton, N. Y., January 25.-It is learned that the following sensational dispatch yesterday was sent mb State Bank Examiner Philo B. Backus. to the State Banking Department at Albany: Have closed the Chenango Valley Savings bank: defalcation by Treasurer Morgan the cause and its full extent is not known. The books are in bad condition: not written or posted. The defalcation is confessed. The Broome County National bank, in the same room, has suspended. Morgan is cashier. I have wired Superintendent Preston in full in New York. Burglary of the vault was attempted about three this morning by Cashier Morgan and President Brownson of the National bank, but was prevented by a detective engaged. The truth of these charges is questioned by citizens. and there is considerable criticism regarding the action of Examiner Backus for indulging in such extraordinary statements. It is believed the action of the bankers and the condition of the bank's affairs do not justify the charges. D.L. Brownson says the papers that Mr. Morgan and he attempted to remove Thursday morning are entirely of a private nature, belonging to Mr. Morgan individually, and in no way connected with either the Broome County National or Cherango Valley Savings bank. At noon today J. Va Vranken, National bank examiner, reached the city from Washington, and immediately took charge of the affairs of the National Broome County bank. Should it be found insolvent, an application will be made for the appointment of a receiver. Col. George W. Dunn will be appointed receiver of the Merchants bank which closed today. Depositors in the latter bank will probably receive about 50 per cent of their deposits if the present securities hold good.

11. January 27, 1895 New-York Tribune New York, NY

Article from New-York Tribune, January 27, 1895

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BINGHAMTON BANK ! MINERS AT ODDS MR. BACKUS CRITICISES MR. VAN VRANKEN'S METHODS-ANOTHER FORGED PAPER IN THE SAVINGS BANK'S EFFECTS. Binghamton, N. Y., Jan. 26 (Special).-There Is a growing unpleasantness between National Bank Examiner J. Van Vranken, of Schenectady, and State Bank Examiner Philo H. Backus, of Albany, who have been in this city all the week, in charge respectively of the Broome County National Bank and the Chenango Valley Savings Bank The cause is some remarks made by Examiner Backus, as to the alleged careless way in which the National examiners do their work of Inspection. It appears that the Broome County National was examined o'. January 17. either by Mr. Van Vranken in person or under his supervision The affairs of the bank were pronounced all right, but just a week afterward the doors were closed. It is asserted that the National bank is in far worse condition than the savings bank, having suffered more than its neighbor from the alleged defalcation of Cashier Morgan. In explaining this, Mr. Backus remarked that the system of examining National banks was exceedingly loose, and that not a National bank had been found insolvent by the National examiners in fifty years. He added that the system of examination Instituted by Mr. Preston, State Superintendent of Banking was far superior to any other. Since then there has been a decided coldness between the two examiners, despite the fact that they formerly had been personal friends. Examiner Van Vranken said In a disgusted tone of voice to-night that Backus might say what he liked about the National examiners, but that didn't make It so. Affairs in financial circles are quiet, the run on the banks being over, and deposits are now being taken in by those Institutions almost as rapidly as they were drawn out a day or two ago. Considerable excitement was caused this afternoon by the announcement of the discovery of another forged paper in the effects of the savings bank. It Is stated that It was a check for $1,200. As Mr. Backus is out of town, further particulars regarding the forgery could not be obtained. The work of examining the books of the two defunct banks is proceeding rather slowly on account of the much-muddled condition of the records. The examiners say that it will be several weeks before the exact condition of the banks can be made public. To-day's interest seemed to centre around the affairs of the Merchants' Bank, which failed first of all, on Monday No one can do more than surmise how much will be saved, but the fact that no figures have yet been given by Examiner Clark would seem to prove that the affairs of that institution are in a tangled condition. While the Ross property is large and the Ross Investments are numerous, the deposits in the bank were also extensive, and the fact that there has been a decided shrinkage in the Investments makes the outlook rather discouraging. although. If it be within Mr. Ross's power, it can be safely said that every depositor will be paid in full.

12. January 29, 1895 New-York Tribune New York, NY

Article from New-York Tribune, January 29, 1895

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THE PLIGHT OF BINGHAMTON. NO MONEY TO PAY ITS EMPLOYES AND OFFICIALS-BROOME COUNTY ALSO HARD UP. Binghamton, Jan. 28 (Special).-This city is bankrupt. The public funds were on deposit in the National Broome County Bank, which closed its doors in last week's panic and is now in the hands of Examiner Van Vranken. The total amount of the funds in the bank was $101,026 85, and this is needed February 1 to pay policemen, teachers and other employes and public officers. The matter seemed so serious that this evening the Board of Aldermen held a special meeting and decided to borrow money enough for current expenses. The Binghamton Trust Company, one of the banking-houses that survived the panic, has offered to advance any amount the city needs. Broome County is almost in as bad shape, as all the county funds were on deposit in the defunct bank, amounting to about $100,000. They were deposited there by County Treasurer John A. Rider, and his bondsmen. T. R. Morgan, D. L. Brownson, A. S. Miner, Erastus Ross, W. P. Hallock and Frederick P. Ockerman, are responsible to the county to the amount of the treasurer's bond, $75,000. if the bank falls to pay off its depositors. Messrs. Brownson and Morgan were officers of the bank. The doors of the bank were opened this afternoon by the examiner for the payment of notes held by the bank which are about due. Examiner Van Vranken says he does not think the bank will open for regular business for some time, but that a receiver will be appointed. The depositors In this city have no use for a receiver for any of the defunct institutions, as they say it only means a large expenditure of their money. Justice Parker, of the Supreme Court, will appoint a receiver for the Merchants' Bank to-morrow. State Senator Edmund O'Connor, who has returned from Albany, said that the Superintendent of Banking, Mr. Preston, has decided that a receiver is not necessary for the Chenango Valley Savings Bank. Cashier Morgan. whom State Examiner Backus charges with embezzlement has outlined his defence. His attorney said that it would be "carelessness and old age." Morgan had been in charge of the bank nearly fifty years. and grew to think he could do as he pleased with the depositors' funds. He was also very careless in keeping books. It is not thought that the savings bank will be in condition to reopen for some months yet. The examiners are not hurrying. and as a consequence many of the poorer depositors are selling their bankbooks at heavy discounts to unscrupulous speculators. The banks closed at just the worst time in the year for the poor. as the winter is at its most severe point, and fuel and provisions are high. The charitable organizations are having all they can do to look out for these unfortunates. All business in the city is practically paralyzed. Cashier Morgan is still at large, and Examiner Backus does not show any great inclination to arrest him. Examiner Van Vranken to-night announced the appointment of O. U. Kellogg, of Cortland, N. Y., as receiver of the Broome County National Bank.

13. January 31, 1895 New-York Tribune New York, NY

Article from New-York Tribune, January 31, 1895

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THE PLIGHT OF BINGHAMTON." MAYOR GREEN DECLARES THE CITY IS ENTIRELY SOLVENT AND BUSINESS GOOD. Mayor George E. Green, of Binghamton, who was in New-York yesterday, gave to a Tribune reporter an emphatic contradiction of the reports that his city was bankrupt as a result of the closing of the Broome County Bank and that business there was practically suspended. "The story published on Tuesday," he said, "on "The Plight of Binghamton,' was largely fictitious. Naturally, the citizens of Binghamton feel much incensed, because and this and similar misleading reports published broadcast are doing the city and its business interests, great injustice, if not grave injury. The exact facts are that several days ago the Merchants' Bank, a State institution, was closed upon evidence adduced by Bank Examiner Clark. The bank was capitalized for $100,000 and was doing a splendid business. The Messrs. Ross, who were majority stockholders, made an assignment to Senator O'Connor for the benefit of creditors, and without preference, thus closing the private banking institution of E. Ross & Sons. The Merchants' Bank is now in the hands of a receiver, Colonel George W. Dunn, in whom the depositors have full confidence. It is understood that as a sequence of these difficulties, examination of the Chenango Valley Savings Bank was begun, when Bank Examiner Philo H. Backus, through published tèlegrams to the State Banking Department, and by copious newspaper interviews, declared thefts and defalcations had occurred. As a result the savings bank was closed, and this was at once followed by the closing of the National Broome County Bank, an institution in the same building and officered practically by the same men as the savings bank. "As a result of the talk of Bank Examiner Backus and the closing of the four banks within a few days, depositors, business men and citizens generally became alarmed. The fright was greatly intensified because a local newspaper ran out several special editions the day the last two banks were closed, openly proclaiming the cashier of one of them a thief. That cashier is one of the oldest and most respected bankers, and the charge against him is as yet entirely unsupported by anything but the word of the bank examiner. "The high order of intelligence of the citizens of Binghamton, and the cool, level-headed generalship of the bankers and business men, prevented anything like a panle. Quiet was almost immediately restored. and ever since business has moved on without an apparent ripple. Business is good. One trust company, with a capital of $400,000; three National, two private and one savings banks, all unusually sound and reliable institutions, are amply qualified to furnish all needed accommodations until what It is hoped will prove only a temporary embarrassment is remedied. O. N. Kellogg, of Cortland, has been appointed receiver for the National Broome Company Bank, and it is thought a receiver will not be necessary for the savings bank. "While the balance of city funds, over $100,000, is now locked up, the city is perfectly secured. A special act has been introduced in the Legislature allowing it to borrow money during the emergency, and in the mean time home banks gladiy cash all city orders presented. The credit of the city is giltedged. its total bonded Indebtedness amounting to only $325,000, while It owns the water works plant, easily worth $1,500,000, and much additional valuable city property. The assessed valuation of property approximates $25,000,000." In short, Binghamton and her banking and business interests are, according to the Mayor, all right, and the city still ranks as one of the most progressive and prosperous municipalities of the Empire State.

14. January 31, 1895 Evening Star Washington, DC

Article from Evening Star, January 31, 1895

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The tug Dickinson has been sent from Chicago to search for the missing steamer Chicora. G. W. Dunn has been appointed receiver for the defunct Merchants' Bank of Binghamton, N. Y. .

15. February 6, 1895 The Abbeville Press and Banner Abbeville, SC

Article from The Abbeville Press and Banner, February 6, 1895

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THE NEWS EPITOMIZED. Eastern and Middle States. THE Tenement House Commission, in its report to the New York Legislature. made twenty-one recommendations and said that New York's population per acre was the densest in the world. Trinity Church, the owner of many tenements, was indirectly censured. WHILE taking in clothes from the line at Canton. N. Y., Mrs. Gertrude Holms was stricken by paralysis and dropped dead. Her step-mother saw her fall and went into a fit, dying almost immediately. ON the fifth day of the Brooklyn trolley tie-up a requisition was made by Mayor Schieren, of Brooklyn. on General McLeer for troops to guard the stables of the railroad companies; there was more rioting and shots were fired by strikers at various places in the course of the day. AGENT SNOWDEN, of the Society for the Prevention of Cruelty to Animals. accidentally killed Charles Fritz in New York City. A sick horse had been shot, and the officer's pistol was again discharged as he put it back in hispocket. WHILE Alexander Speck and Malachy Dundick were escorting Alexander Dundick to Avoca station, Penn., to take a train for his home in Jermyn. a switch engine struck the three, killing them. KLOTS'S silk establishment. in New York City, was totally destroyed by fire. The loss was over one hundred thousand dollars. THE Merchants' Bank and a private bank in Binghamton. N. Y., both controlled by Erastus Ross and his sons, suspended payment. There was a deficit of $45,683 in the assets of the Merchants'.

16. February 6, 1895 The Manning Times Manning, SC

Article from The Manning Times, February 6, 1895

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WEEK'S NEWS CONDENSED. "Cherokee Bill" has been captured in Indian territory. Assistant Secretary inspected the fleet at Fort Monroe Tuesday. The steamship Lahn, which sailed for Europe Tuesday, carried $3,562,000 gold. The jury in the case of John F. Dore, the alleged Boston embezzler, has disagreed. The daughter of Victor Vifquain, United States consul-general at Panama, is dead. New York railroad officials are of the opinion that the Pooling bill will become a law. There is abundant proof that the western pass agreement is in a tottering condition. The treasury gold reserve was reduced yesterday up to the close of business to $48,516,193. The tug Dickinson has been sent from Chicago to search for the missing steamer Chicora. G. W. Dunn has been appointed receiver for the defunct Merchants' bank of Binghamton, N. Y. State Civil Service Commissioner Van Fleet, of New York, has sent his resignation to Governor Morton. Because the superintendent would not reinstate a discharged man, 128 miners struck at Mowequa, Ill. The directors of the St. Paul Commercial Club have adopted a resolution against the Nicaragua Canal bill. The agricultural appropriation bill, carrying a total appropriation of $3,377,150, has been passed in the house. One was killed and several fatally injured in a battle between two gangs of outlaws near Sacred Heart Mission, O. T. Vigo Anderson, the famous solo flutist of the Thomas Orchestra, committed suicide at Chicago Wednesday night. It is believed that Taylor, South Dakota's defaulting treasurer, is in South America. beyond the reach of an extradition treaty. The Hawaiian correspondence called for in the resolution of the house of the 1st inst., was laid before the house Monday and ordered to be printed. Two hundred guests at the Allen house, near the Chicago stock yards, were evicted by fire Friday night. The hotel was destroyed. Loss, $40,000. Fifteen thousand dollars was distributed among the two hundred employes of the co-operative horn manufactory of Congressman Conn at Elkhart Wednesday night. Burglars entered the bank at Vernon, a small village west of New York. Friday night and blew open the safe with dynamite. They secured $600 in cash and some valuables. The terms of eighty-seven postmasters at presidential offices expire during this month. The most important in the list is Cincinnati. In March the number will hardly reach half a dozen. The Baltimore and Ohio Southwestern, in conjunction with the Illinois Central, has put on a fast freight train between Cincinnatti and New Orleans, to run through in fifty-nine hours. President Faure, of France, tried to enter a door leading to private apartments in the Elysee palace yesterday, but not having the password and not being recognized, was held as a suspicious person. W. B. Ryan has received the appointment of general eastern joint agent of the Mexican International, Inter-Oceanic of Mexico, Mexican National and Mexican Central lines, with headquarters in New York. Saturday, the 23rd inst., at 2 p. m. hasbeen set apart for the delivery of eulogies of the late Senator Stockbridge, of Michigan, in the house of representatives. The afternoon of February 26th for eulogies upon the late Representative Post, of Illinois. It is said on excellent authority that the Atlantic Coast line is preparing to lower the record between New York and Jacksonville, Fla., and to that end will in the very near future make an effort that will far surpass any of its previous efforts in the matter of reducthe time between the above points. Senator Mitchell, of Oregon, submitted an amendment to the post office appropriation bill providing that no clerk or letter carrier in the post office department shall be asked for his resignation or removed from service until written charges shall have been filed against him. The Baltimoreand Ohio express, from Cincinnati, was wrecked at Woodell, three miles west of Washington, Pa. None of the passengers was seriously injured. Ed Robinson, a brakeman, was killed. and Frank Kelly, a brakeman, was badly hurt. The express collided with a freight train. The investigation of the overtime claims of letter carriers in Boston has been completed. There were 472 claims. which aggregated $276,443. The report recommends the allowance of $172,440. The claims of carriers in Providence, R. I., aggregate $21,000, and claims in Meriden, Mass., and two stations in New York city have also been adjusted, making a total of $60,000. Non-suit was granted in Pittsburg yesterday in the case of Waring Brothers against the Pennsylvania railroad for $8,500,000. A suit for $1,500,000 was entered for alleged rebates due for freight on oil shipped. Two million dollars were asked as damage for discriminating against the firm. Fourteen years elapsed between the time of the alleged discrimination and the filing of

17. February 7, 1895 The Gold Leaf Henderson, NC

Article from The Gold Leaf, February 7, 1895

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WEEK'S NEWS CONDENSED. Marshall Canrobert, of France, is dead. "Cherokee Bill" has been captured in Indian territory. Assistant Secretary McAdooinspected the fleet at Fort Monroe Tuesday. The steamship Lahn, which sailed for Europe Tuesday, carried $3,562,000 gold. The jury in the case of John F. Dore, the alleged Boston embezzler, has disagreed. Vice Admiral Besnard has accepted the French cabinet position of Minister of Marine. The treasury gold reserve was reduced yesterday up to the close of business to $48,516,193. The tug Dickinson has been sent from Chicago to search for the missing steamer Chicora. G. W. Dunn has been appointed receiver for the defunct Merchants' bank of Binghamton, N. Y. State Civil Service Commissioner Van Fleet, of New York, has sent his resignation to Governor Morton. The trial of Louis Desforges, the New Orleans city councilman, indicted for bribery, resulted in a mistrial. The directors of the St. Paul Commercial Club have adopted a resolution against the Nicaragua Canal bill. One was killed and several fatally injured in a battle between two gangs of outlaws near Sacred Heart Mission, O. T. Vigo Anderson, the famous solo flutist of the Thomas Orchestra, committed suicide at Chicago Wednesday night. It is believed that Taylor, South Dakota's defaulting treasurer, is in South America, beyond the reach of an extradition treaty. The Bucyrus Steel Shevel and Dredge company. Milwaukee, failed Monday. The plant and business, situated at South Milwaukee, is worth $200,000. The treasury gold reserve is down to the lowest point it ever reached since the resumption of specie payments on January 1, 1879. Steamer City of Macon from Philadelphia for Savannah. ashore on Bulkhead shoals, discharged her cargo Wednesday. Two tugs are alongside. Fifteen thousand dollars was distributed among the two hundred employes of the co-operative horn manufactory of Congressman Coan at Elkhart Wednesday night. In a collision between two electric cars at Wilkesbarre, Pa., William Bourke, John Schappert and a man named Helfer were fatally injured. Five others were hurt. President Faure, of France, tried to enter a door leading to private apartments in the Elysee palace yesterday, but not having the password and not being recognized, was held as a suspicious person. The body of Marshal Canerobert, dressed in the full uniform of a marshal of France with the cordon of the Legion of Honor across the breast, is lying in state in the study of his late Faris residence.

18. February 14, 1895 The Gold Leaf Henderson, NC

Article from The Gold Leaf, February 14, 1895

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CONDENSED. in "Cherokee WEEK'S NEWS Bill" has been captured Indian territory. coldest Wednesday was north the and west. the Victor Vifquain. United States is the The winter daughter in of -general at Panaof the New that the ma, dead. York railroad Pooling officials are bill sent from Chicago Chicora. opinion become The tug a to law. Dickinson search has for been the missing appointed State steamer G. W. Dunn the defunct has been Merchants' bank Van York, ceiver of Binghamton, for Civil Service N. has sent his Commissioner resigFleet, of to New Governor superintenden Morton. would 128 a Ill. nation the discharged man, bill, miners not Reinstate struck at Mowequa, appropriation agricultural topriation $3,277. The total the house. carrying passed in Harva 150, has been dinner of the place at the The annual the district took Wednesday Shoreham, club of Washington, DaSouth America, night It is believed that treasurer, Taylor, of is an in extra- South dition treaty of kota's defaulting beyond the reach the convention meets Atlanta today. wholesale The third druggist annual of This the south association in organized last year. called was Hawaiian correspondence of the house of house the The resolution before the in the was laid to be printed. Monday and guests at yards, for 1st inst., ordered stock the Allen Two hundred Chicago night. The by fire Loss, of were house. hotel evicted was near destroyed. the Friday Mr. Perkins, $40,000. The credentials the of unexpired been term pre- of sented to the California, late Leland the for senate a Stanford, has the senator nomination Mr. the sworn The Robert presidente in. G. sent in the to the the navy. senate position be chief formerly engineer occupied t engineer. Denig assistant in the presiof passed to avert a crisis the members the In order reichstag compromise the dency centre of the propose powers a of President by creasing Levetzow. The British parliament the customary opened reassembled ceremo- at with was the speech from the the entered York, o'clock nies. Tuesday The throne. the session reading bank of at Vernon, FriBurglars village west of New the safe with cash day a small night and They blew secured open $600 in It is and dynamite. some worthy receipts valuables. of Tuesday note Cincinnati that at the Augusta, total only and Houston that day were last year. cotton Memphis, St. 1,534 Louis, bales, against postmas3,987 on of eighty-SCeep during ters The at month. terms of presidential The offices most In important March dozen. this is Cincinnati. reach half a the list will hardly and Ohio Southwest- Illinois number Baltimore an with the train Orleans, ern, Central, The in conjunction has put on : Cincinnatti in fifty and fast -nine New freight hours. Ill., between through of Peoria, patent killing her The cause fatally. to Frank run ter-in-law, medicine Atkinson, vender, Lena Sitter, shot recently himsel famhis instantly. He then of the act was troubles. of to tried France, apartily President Faure, leading to private yesterday, being enter door Elysee password palace and suspicbut recognized, ments not in having the the was held a ious person. department At the North Carolina said there will in tobacco be agriculture it is 18 to 20 per 25 cent per cent truck. acreage There will increase of and at least be a considerable ercase in rice. Captain Cienfeugos, The steamer the New York New and York Cuba January Smith, sailed from Nassau, shortly 31 for before All which Santiago of daylight via saved. bruary stranded near W. Harbor B. Ryan Island. general has received eastern International the Mexican agent pointment of and the of Mexican Mexican of Mexico, New Central York. lines, inst., Nationaddquarters in at with 2Srd delivery 01 Saturday, the apart for the Senator Stock has been set of the late in the house Febbridge, enlogies of tives. Michigan, eulogies Thea ternoon upon the of late representa for of Illinois. that Atlantic to end Fuly 20th Representative It is said on Coast excellent Post, between line is authority preparing New that York the and the record Fla., future and any make of reducwill in that the will very far the surpass matter of effort in above previous submitthe between efforts the of Oregon, points office aptime Mitchell, the post clerk letter be asked service propriaticarrier ted Senator an amendme endment bill providing in to the post that for his office no resig- until written or shall from filed partment nation or charges removed shall have been The from express. against Baltimore him. and wrecked Ohio at Woodell. Pa. three miles passengers Cincinnati, was west of Washingeriously was brakeman, None of the Ed Robinson. Kelly, a brakebadly train. injured. killed. and hurt. Frank The express man. with was a freight of lided was investigation the Boston overtime has carriers in 472 claims. claims The of letter There were The report been completed. congregated allowance $276,443. of $172,440. which the in Providence, recommend carriers and claims The be claims I. aggregate of $21,000. and two stations in adjusted, New total Meriden. R. Mass., city have also been York ofs60.000. hips shoulder by making Rheumatism in or the wrists, back is caused

19. April 10, 1895 New-York Tribune New York, NY

Article from New-York Tribune, April 10, 1895

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MAYOR GREEN'S LETTER. HIS REQUEST FOR ITS PUBLICATION GRANTEDTHE CHENANGO BANK CASE. Binghamton, April 9.-When Mayor Green of this city learned of Superintendent Preston's determination not to make public the letter in his possession regarding Binghamton banks, supposed to have been written by the Mayor to Colonel Dunn, receiver of the Merchants' Bank, a dispatch was sent to Mr. Preston asking him to publish it. When the telegram reached Albany last night Mr. Preston had already left for this city. At 1 o'clock this morning Mr. Preston sent the following, which is marked "copy of letter to Colonel G. W. Dunn," to Colonel Dunn at his house, and the colonel at once gave out the letter for publication: Binghamton, July 2, 1894. My dear Colonel: I have just learned that there is a disposition on the part of certain ones to make trouble concerning the deposit of excise funds. These funds, I understand, are now to the credit of the Excise Board. The city is unable to meet its present obligations, and some one has advised that several thousand dollars excise moneys are on hand and should be to the credit of the city, etc. I have been legally advised that, unless the funds are to the credit of the city, the Excise Board is subject to removal, and, if complaint should be made to me, I should be obliged to remove them or subject myself to removal, etc. It's all a case of "pernicious activity" on the part of meddlesome persons. Is it not well to put the Hon. T. R. Morgan on guard, and he can have the transfer made in effect. if not in fact? Must hustle home, and have a half-dozen things to bother me this evening, and for fear I can't see Mr. Morgan or Bayless I take the liberty of troubling you, Will explain GEORGE E. GREEN. all when I see you. Mayor Green's letter failed to create the sensation which had been anticipated. Mayor Green made a statement this afternoon explaining the circumstances responsible for the letter. Through an error the Excise Board had placed certain funds to its credit in the Chenango Valley Savings Bank, instead of placing them in the National Broome County Bank, to the credit of the city, which, therefore, was deprived of the use of the money. This was a violation of the law. Mayor Green in his statement observes that the foregoing facts had come to the knowledge of persons who were disposed to make capital of the matter. A consultation with the City Attorney, members of the Common Council, and the Excise Commissioners was held. Mayor Green became convinced that, unless the moneys were transferred at once to the credit of the city, opportunity for scandal might arise. He asked Colonel Dunn to act for him in the matter. Mayor Green ends by saying: The conspiracy, If any, on my part, was to secure prompt transfer. No combination or individual, to my knowledge, received the slightest benefit from the excise funds, and so far as the moneys were concerned, the city was well protected against loss by the Board of Excise. The only issue was a question of exact consideration of law and perhaps of the interest on daily balances.. The letter or the excise funds had not the slightest connection with the Chenango Valley Savings Bank, and I do not know how or why the State Banking Department came into possession of the same. The continuation of the preliminary examination in the case of the People against D. L. Brownson and Tracy R. Morgan, charged with burglary in the third degree in connection with the Chenango Valley Savings Bank failure, brought out some interesting testimony this morning. The defence opened its case by calling Bank Examiner Philo B. Backus. "When did you get hold of that celebrated DunnGreen letter?" asked Attorney Wales. Attorney McGown's objection to this question was overruled, and the witness answered: "It was handed to me by Mr. Jackson, my assistant. The letter was first called to my attention three or four weeks after the examination was begun. I refused to give the letter to the press. I have never said the Republican ring wrecked the banks."

20. May 18, 1895 New-York Tribune New York, NY

Article from New-York Tribune, May 18, 1895

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READY TO PAY DEPOSITORS A DIVIDEND. Binghamton, N. Y., May 17.-An application will be made by Colonel G. W. Dunn, receiver of the Merchants' Bank, of this city, on June 11, at a special term at Morrisville, for permission to pay a dividend of 25 per cent, together with preferred claims, which will release $176,000 of the funds now tied up in that institution. John B. Van Name was to-day elected president of the City National Bank to fill the vacancy caused by the death of Harris G. Rodgers.