14788. National Broome County Bank (Binghamton, NY)

View Charter #1513 on SPMC

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
1513
Charter Number
1513
Start Date
January 24, 1895
Location
Binghamton, New York (42.099, -75.918)

Metadata

Model
gpt-5-mini
Short Digest
80aa9e81

Response Measures

Full suspension, Books examined

Other: Multiple newspapers report discovery of defalcation by cashier Tracey R. Morgan and closure by bank examiners/comptroller; receiver later appointed.

Receivership Details

Depositor recovery rate
51.8%
Date receivership started
1895-01-28
Date receivership terminated
1905-09-30
OCC cause of failure
Fraud
Share of assets assessed as good
42.0%
Share of assets assessed as doubtful
28.9%
Share of assets assessed as worthless
29.1%

Description

The National Broome County Bank (Binghamton, NY) was voluntarily closed by officials on Jan 24, 1895 amid heavy withdrawal demands and disclosures of tangled books/defalcation by Cashier Tracey R. Morgan. A run/large withdrawals precipitated suspension; the comptroller later appointed a receiver (Orris U. Kellogg) on Jan 29, 1895, indicating permanent closure. Cause classified as bank-specific adverse information (defalcation/bad books), though contemporaneous rumors/exaggeration amplified panic.

Events (5)
1. August 9, 1865 Chartered
Source
historical_nic
2. January 24, 1895 Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy withdrawals and panic following discovery of badly tangled books and alleged defalcation by Cashier Tracey R. Morgan; rumored closures amplified the withdrawals.
Measures
Bank officials voluntarily closed the bank and the comptroller assumed charge; attempts to obtain additional currency and telegrams promising support from metropolitan banks were received.
Newspaper Excerpt
They feared a run, which the bank was totally unprepared to meet. Soon after opening yesterday morning three heavy demands were made upon its funds
Source
newspapers
3. January 24, 1895 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closure followed examiner findings of badly tangled books and allegations of cashier defalcation at the affiliated Chenango Valley Savings Bank; officials feared imminent run and suspended payments/closed doors voluntarily or by examiner action.
Newspaper Excerpt
This morning the bank was closed by Bank Examiner Clark on an order from State Superintendent of Banking Preston. The National Broome County Bank ... is also closed.
Source
newspapers
4. January 28, 1895 Receivership
Source
historical_nic
5. January 29, 1895 Receivership
Newspaper Excerpt
The comptroller of the currency has appointed Orris U. Kellogg of Cortland, N. Y., receiver of the National Broome County bank of Binghamton, N. Y., which suspended payment on the 24th inst.
Source
newspapers

Newspaper Articles (15)
1. January 24, 1895 The Jersey City News Jersey City, NJ
Article from The Jersey City News, January 24, 1895

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THE BOOKS IN A BASKET. And This Morning The Chenango Valley Savings Bank Is Closed. BINGHAMPON, N. Y., Jan. 24, 1895.Detective Stephenson, of the local police force, was ordered by Bank Examiner Clark yesterday afternoon to watch the Chenango Valley Savings Bank, which has its offices in the Phelps Bank Building, corner of Court and Chenango streets. In company with Officer Heath, the detective remained in the vicinity all night. About four o'clock this morning Tracey R. Morgan, the Treasurer of the bank, was seen to enter the bank. He came out again in a few minutes and went to the grocery store of D. L. Brownson, who is the President of the bank. A few minutes later he came out with a bushel basket, followed by Mr. Brownson, and both of them returned to the bank. Half an hour later the two men came out with the basket full of books and papers. They went up Chenango street, followed by Detective Stephenson and Officer Heath. Stephenson requested Morgan and Brownson to return the books and papers to the bank. Morgan refused, claiming that they were his private property. The detectives insisted, and the bank officials returned to the bank with the books and papers. This morning the bank was closed by Bank Examiner Clark on an order from State Superintendent of Banking Preston. The National Broome County Bank, which occupies the same rooms in the Phelps Bank Building, as the Chenango Valley Savings Bank, is also closed. D. L. Brownson is also the President of this bank, and Tracey R. Morgan is Cashier. There is a run on the Binghampton Savings Bank, corner of Court and Collier streets, but the bank is meeting all demands.

2. January 25, 1895 The Morning News Savannah, GA
Article from The Morning News, January 25, 1895

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e 1116 TWO BINGHAMTON CONCERNS CLOSE THEIR DOORS. One of them a National and the Other a State Institution-A Claim Made That the Cashier of the Two Is a Defaulter-He and the President Burglarize the Vaults, But Are Compelled to Return Their Plander-Runs Made on Two Other Banks. Binghamton, N. Y., Jan. 24.-At noon the controller of the currency assumed charge of the National Broome County Bank. This bank was voluntarily closed by its officials this morning They feared a run, which the bank was totally unprepared to meet It is asserted that the Chenango Valley Bank, a state bank. which was also closed. has securities deposited with the Bing hamton Savings Bank sufficient to meet all obligations. The bank examiners have been at work on the books of the savings bank for three days. They refuse to divulge the result of their investigations, but it is evident that the affairs of the bank are badly tangled The withdrawal of deposits at the Bing hamton Savings Bank continued throughout the day. There was a run on the Binghamton Trust Company. A both banks the offl. cials say they have sufficient funds to pay every deposit in full, and more currency on the way. A meeting of the directors of the Chenango Valley Bank was held at 11 o'clock and it was decided to demand the regular 60-day notice for the withdrawal of de. posits, The officers of the bank state that there are sufficient securities in the hands of the bank examiner to pay every depositor in full and leave good surplus Detective Stephenson of the local police force was ordered by Bank Examiner Clarke yesterday afternoon to watch the Chenango Valley Savings bank which has its office in the Phelps Bank building In company with Officer Heath, the de tective remained in the vicinity all night About 4 o'clock this morning Tracy R Morgan, the treasurer of the bank, was seen to enter the bank He came out again in a few minutes and went to the grocery store of D. L. Brownson, who the president of the bank. A few minutes later he came out with a bushe basket followed by Mr. Brownson and both of them returning to the bank Half an hour later the two men came out with the basket full of books and papers. They went up Chenango street, followed by Detec tive Stephenson and Officer Heath. Detective Stephenson requested Morgan and Brownson to return the books and papers to the bank. Morgan refused, claiming that they were his private property The detective insisted and the bank officials returned to the bank with the books and papers. The citizens had recovered from the shock following the suspension of the Merchants' and the Ross private bank and affairs were assuming their normal aspect when the rumor was circulated that the Chenango Valley Bank had drawn its curtains. On the heels of this startling report came the announcement that the National Broome County bank had also discontinued business. The citizens were fairly paralyzed with astonishment the apprewas magnihension of small depositor fied by exaggerated stories which were eirculated to the injury of other local bank ing institutions. The news regarding the failure spread rapidly and as each messenger enlarged upon the real condition of affairs a panic seized the populace and it became apparent that a run upon the banks would be inevitable. The smaller depositors were thoroughly frightened and it became evident that nothing could prevent the abnormal pressure. Just such a movement had been anticipated, however, and the solid institutions were prepared for the rush. The run upon the Binghamton Savings Bank was heavy and the crowd of anxious depositors increased with the hours, but the bank was prepared for the emergency. The officers, pale, but cool and composed stood behind the heavy plate glass windows. surrounded by piles of shining gold and silver. They had protected themselves with a large amount of cash, and during the day telegrams were received from metropolitan banking institutions, to the effect that they would support the Binghamton banks for unlimited amounts. Runs were also made upon the other banks of the city but all depositors were promptly paid, and when the doors were closed, at 3 o'clock it was evident that the rush and fright were over. The books of the Chenango Valley Bank which closed first were being examined by Bank Examiner Backus, who came here several days ago. He claims that the books were in bad condition, and it was at his instance that the bank was closed. The affairs of the National Broome County Bank were not in a condition to compel the suspension of the institution. The national bank examiner, who was in this city Jan. 17. investigated the affairs of this institution and found the bank solvent. A statement of the liabilities and assets proves that all the affairs of the bank are in first-class condition. The bank, however, did not take the precaution to prepare for a run. Soon after opening yesterday morning three heavy demands were made upon its funds This crippled the bank. and the doors were closed. An examination of the af fairs of the institution shows the bank to be perfectly solvent, as the assets ex ceed the liabilities. The liabilities are $415,588, and the assets $511,500 The closed banks are located in the basement of the Philips Bank building Tracy R. Morgan was cashier of both banks, which virtually in one, exbooks were kept for cept that separat each, one being regulated by the national banking laws and the other was regulated by the state banking department. David Brownson son-in-law of Mr. Morgan, is president of the National Bank Benjamin N. Loomis is vice president of the Sav ings Bank The name of the president is not given on the books. Much excitement was caused by the announcement that Tracy R. Morgan and David Brownson had been detected carrying papers from the Chenango Valley Savings Bank, at o'clock this morn ing. These documents, it is claimed, are private papers to which the parties had perfect right. Recorder Roberts was interviewed tocorroborated the statement day documents removed from the that

3. January 25, 1895 Evening Star Washington, DC
Article from Evening Star, January 25, 1895

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GENERAL NEWS NOTES. At the city election of Wheeling, W. Va., yesterday, the republicans made a clean sweep of the city for the first time in many years. Majorities for mayor, chief of police and city clerk range from 400 to 1,000. The city council is almost solidly republican. There was a lull yesterday in the storm which has prevailed in California for eight days. Labor riots occurred in the streets of Budapesth, Hungary, yesterday. Reports from Lake Michigan leave no doubt of the loss of the steamer Chicora with the twenty-five persons on board. The loss of the vessel, exclusive of the cargo, amounts to $150,000, and the cargo of thirty-eight carloads of flour was valued at $20,000. The Argentine congress yesterday voted general amnesty to political offenders, and the session was then closed. The attempt to introduce Chinese labor into the mines of Idaho Springs has been abandoned, owing to the fear of violence to the Chinamen. The Brazilian minister to Uruguay has been recalled by his government owing to his attitude on the frontier incidents. Justin McCarthy has issued a manifesto to the Irish parliamentary party upon its duty in the coming session of parlfament. Every passenger and all the crew of the steamer State of Missouri, which was sunk in the Ohio river on Saturday last, have been accounted for and no lives were lost. It is reported from Toronto that if the United States does not assent to the landing of the Australian cable on the Hawaiian Islands, it will be built via Faning Island. A mass meeting of North Carolina temperance workers, held at Raleigh, indorsed a bill based upon the Mississippi temperance law. One proviso is that dealers who give credit for drinks lose the debt. Beecher, Schenck & Co. of New York have been indicted for issuing a doctored statement of the financial affairs of the defunct American Casualty Insurance and Security Company of Baltimore. The Chenango Valley and the National Broome County Banks of Binghamton, N. Y., have been closed by the bank examiner. A run on the other banks followed. The Oregon legislature met yesterday in joint session to vote for United States Senator. The ballot resulted as follows: Dolph, 44; Moore, 19; Lord, 2; Bennett, 8; Hare, 10; Moody, 4; Williams, 1; Kinkaid, 1. Necessary to an election, 45. There was no choice. Seven votes for United States Senator were taken yesterday by the Washington legislature without resulting in a choice. The last ballot taken resulted: Ankeny, 25; Wilson, 7; Allen, 24; Turney, 19; McMillan, 5; Rogers, 23; Wallace, 6; Manning, 1. In the Missouri house yesterday Mr. Johnson of St. Louis introduced a bill to legalize pool selling and book making on events either within or without the state if sold on the premises of a race course. This is intended to freeze out the smaller pool rooms.

4. January 25, 1895 Birmingham Age-Herald Birmingham, AL
Article from Birmingham Age-Herald, January 25, 1895

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BADLY TANGLED BOOKS CAUSED THE CLOSING DOWN OF A BINGHAMPTON, N. Y., BANK. BINGHAMPION, N. Y., Jan. 24.-At noon the comptroller of the currency assumed charge of the National Broom County bank. This bank was voluntarily closed by its officials this morning. They feared a run, which the bank was totally unprepared so meet. It is asserted th the Chenango Valley bank (state bar which was also closed, has securities sited with the Bingbank ufficient to meet hampton Savin all obligations. The bank examiners have been at work on the books of the savings tank for three days. ey refused to divulge the result of tb vestigations, but it is evident that affairs of the bank are badly tangle The witho deposits at the Bingbampton Savings bank continued throughout the day. There was a run on the Binghampton Trust company. At both banks the officials say they have sufficient funds to pay every depositor in full and more currency on the way. A meeting of the directors of the Chenango Valley bank was held at 11 o' clock, and it was decided to post the regular sixty day notice for the withdrawal of deposits. Officers of the bank state that they have sufficient securities in the hands of the bank examiner to pay every depositor in full and leave a good surplus. The only trouble appears to be that the books are badly mixed up and need a thorough straightening.

5. January 25, 1895 The Norfolk Virginian Norfolk, VA
Article from The Norfolk Virginian, January 25, 1895

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and President Brownson of National bank. Prevented by detective whom [ bad engaged." BINGHAMTON, N. Y., January 24.- Citizens had recovered from the shock following the suspension of the Merchants' Ross private bank, and affairs were taking on their nor. mal aspect when the rumor was circulated that the Chenango Valley Bank had drawn its ourtains. On the beels of this startling report came the aunouncement that the National Broome County Bank had also closed. Citizens were fairly paralyzed with astonishment and the apprehension of small depostors was magnified by exaggerated stories which were circulated. A heavy run on the Binghamton Savings Bank was begun and the crowd of anxious depositors increased with the hours, but the bank was prepared for the emergenoy. The officers stood behind the heavy plate glass windows, sur rounded by piles of shining gold and silver. Runs were also made upon the other banks of the city, but all de. positors were promptly paid, and when the doors were closed at 3 o'clock it was evident that the rusues were over.

6. January 25, 1895 The Providence News Providence, RI
Article from The Providence News, January 25, 1895

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ONE MORE. Cashier Morgan Causes Suspension of Banks. Was Held in High Esteem-What Became of Missing Funds. BINGHAMTON, N. Y., Jan. 25.-A notice posted on the doors of the Chenango Valley Savings bank says the bank has been losed by order of Superintendent Preston of the state banking department. The National Broome County bank, which conducts business in the same offices, with nearly the same officers ns the Chenango Valley bank, is also closed. Cashier Tracey R. Morgan of the savings bank is a defaulter. The announcement of the defalcation of Cashier Morgan has created much excitement. He has been. mayor of the city, and during his 30 years' residence here has been looked upon as an upright citizen. He is about 70 years old, and though he has been a close applicant to business his bodily vigor is unimpaired. Bank Examiner Backus had been in the city but one day when he discovered that during the past 30 years a correct trial balance had never been taken in that bank and that the cashier refused to balance almost invariably. In spite of the fact that the number of the bank's depositors had increased daily, the amount on deposit had declined, showing that something was wrong. Where Did the Money Go? The great question here is, What has Morgan done with the money? It is not known that be was extravagant to any extent, or that he had any particular vices which would aid him in getting rid of a fertune. He lived quietly and has devoted apparently most of his time to business. He has kept the books of the savings bank almost entirely alone. None one of the employes knew anything of his accounts, with the exception of a young girl, who has for several years been Morgan's chief helper. Last night a watchman slept in the bank to prevent any one from tampering with the books. The statement that all the other banks are in a flurry, a report that early in the day gained some credence here, is not borne out by the facts. Each bank is prepared for a bad run, and there is fully $1,000,000 more in the city than the total amount of the deposits in all the banks. It was reported about the city that Harry Ross, of the defunct Merchants' bank and the private bank of Ross & Sons, was missing, but the report is not true. Morgan has not been arrested. His ago is such that it is believed that he is not able to leave the city. Nevertheless, he is now under police surveillance.

7. January 26, 1895 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, January 26, 1895

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Protect the Deposito rs. The people of New York State and city, and indeed we might say of the whole country, had on Thursday the advantage of an object-lesson well calculated to teach them that depositors in banks ought to have the same perfect protection which moteholders already possess. The circulating notes of the National Broome County Bank of New York are as good and as current to-day as they were last week, but the deposits in that bank are not considered safe by the owners. Read yesterday's telegrams on this subject: "This bank was voluntarily closed by its officials this morning. They feared a run, which the bank was totally unprepared to meet." "They feared a run." What sort of run? Why, they expected the depositors to come to the bank and demand their money. Read again: "The withdrawal of deposits at the Dinghamten Savings Bank continued throughout the day. There was a run on the Binghamton Trust Company. At both banks the officials say they have sufficient funds to pay every depositor in full and more currency on the way." "Whidrawal of deposits" is # eughe-

8. January 29, 1895 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, January 29, 1895

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Receiver For a Bank. WASHINGTON, Jan. 29.-The comptroller of the currency has appointed Orris U. Kellogg of Cortland, N. Y., receiver of the National Broome County bank of Bing hamton, N. Y., which suspended payment on the 21th inst.

9. January 29, 1895 Evening Star Washington, DC
Article from Evening Star, January 29, 1895

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Broome County Bank Receiver. The controller of the currency has appointed Orris U. Kellogg of Cortland, N. Y., receiver of the National Broome County Bank of Binghamton, N. Y.

10. January 29, 1895 The Providence News Providence, RI
Article from The Providence News, January 29, 1895

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To Straighten Out Accounts. WASHINGTON, Jan. 29.-The comptroller of the currency has appointed Orris U. Kellogg receiver of the National Broome County bank of Binghamton, N. Y., which suspended payment on the 24th lost.

11. 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.

12. January 31, 1895 Connecticut Western News North Canaan, Salisbury, Canaan, CT
Article from Connecticut Western News, January 31, 1895

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Receiver For a Bank. WASHINGTON, Jan. 29.-Thecomptroller of the currency has appointed Orris U. Kellogg of Cortland, N. Y., receiver of the National Broome County bank of Binghainton. N. Y., which suspended payment on the 24th lust.

13. February 1, 1895 The State Rights Democrat Albany, OR
Article from The State Rights Democrat, February 1, 1895

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At the Editor's old Home BINGHAMTON, N.Y., Jan. 28.-The city is bankrupt. The police 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 city's funds in the bank was $101,036.85, and this is needed February 1 to pay policemen, teachers and other employes and public officers. The board of alderman held a special meeting,and decided to borrow money enough for current expenses. Broome county is in almost as bad shape, as all the county funds were on deposit in the bank, amounting to about $100,000. All business in the city is practically paralyzed.

14. February 1, 1895 The State Rights Democrat Albany, OR
Article from The State Rights Democrat, February 1, 1895

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them remain there, if the subscriptions were unpaid. The assistant attorney-general has made a search of the statutes, and determined that there is no federal law covering such cases and that newspaper subscriptions are governed by legal laws like other private contracts. Voorhees Bill. WASHINGTON, Jan. 29.-As soon as the finance committee reassembled this afternoon, Representative Voorhees, who had his bill pr nted since the morning adjournment, submitted it to the committee. Separate votes were taken, and it was soon apparent that nothing could be done and an adjournment was taken with nothing accomplished. A Will stolen. SAN FRANCISCO, Jan. 29,-The discovery was made shortly before the office of the county clerk closed yesterday afternoon that the will of the late ex-Senator James G. Fair had been stolen, and that in its place: a lot of worthless papers had been inserted in the envelope that contained the bulky document. At the Editor's old Home BINGHAMTON, N. Y., Jan. 28.-The city is bankrupt. The police 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 city's funds in the bank was $101,036.85, and this is needed February 1 to pay policemen, teachers and other employes and public officers. The board of alderman held a special meeting,and decided to borrow money enough for current expenses. Broome county is in almost as bad shape, as all the county funds were on deposit in the bank, amounting to about $100,000. All business in the city is practically paralyzed. A Substitute Bill. WASHINGTON, Jan. 28.-A substitute for the Reilly Pacific railroads bill has been introduced in the house by Boatner for the members of thecommittee on Pacific roads, who made the minority report against the Reilly bill. The bill provides for a Pacific railroad commission to take charge of the governmentaided roads when they default in payment of their debts, and to control them as representatives of the government until a comprehensive plan can be adopted by congress for settling the relations of the companies with the government. Message. WASHINGTON, Jan. 28.-The president today sent to congress a message in which he advises the selling of bonds abroad, the retirement of greenbacks and the making of duties payable in gold. Not Guilty. BOSTON, Jan. 28.-The jury in the case of Attorney John F. Dore, brought from Seattle, Wash., charged with the embezzlement of $250,000, returned a verdict today finding him not guilty on six counts. On the other three, the jury could not agree. It improbable that the case will come up again. Rebels Routed COLON, Jan. 28.-Rebels and government troops had an engagement Friday at Pradera. The rebels were routed. The inhabitants are depending upon the Americans for protection. The United States cruiser Atlanta is coaling here, and the New York isexpected. A French warship has been ordered to Colon. A Cord Showing WASHINGTON, Jan. 27.-Members of congress who believe that the income tax is an equitable method of raising revenues are gratified at the unexpectedly good showing of the preliminary canvass made by the collectors of the intermal revenue at the direction of Secretary Carlisle. They believe that the greater the amount realized from this tax the more popular it will become,and the more firmly rooted as a part of the policy of the government. From the results of the canvass of the internal revenue bureau, it appears that the income may yield more than $50,000,000. What Shall be Done. WASHINGTON, Jan. 27.-The president and Secretary Carlisle passed several hours together at the White House this afternoon. Mr Carlisle brought with him nancial data bearing on the depleted treasury gold reserve, and with this as a basis the president began the preparation of a message to congress. It is understood that it will treat principally of the continued drain of the gold reserve and remedies for stopping it The message will, it is said, be short and vigorous, and be delivered tomorrow. The Big Strike. BROOKLYN, Jan. 27.-Were it not for the scarcity of cars today one would not have known that one of the biggest strikes in the history of Brooklyn was in progress. Church members had to walk to church in many instances or take chances in the enormous crowds which took possession of the cars. Otherwise there was a perfect calm. Large crowds assembled around the depots, military guards are stationed, but there was no violence there. War Coming CITY OF MEXICO, Jan. 27.-The situation is unchanged today. Both Mexico and Guatemala are going on with their war preparations, and prominent Mexicansthink the outlook is very gloomy for peace, unless Guatemala recedes from the bold stand she has taken. If MexiCO is pushed into the fight over the international boundary, her policy will be as outlined by President Diaz and his cabinet, that this dispute and other little matters will be settled at once and forever, and the necessary means used to that end. Very Cold. ST. PAUL, Minn., Jan. 27.-This was the coldest day of the winter here. At 7 o'clock this morning the thermometer registered 26 degrees below zero. It was excessively cold all day, and at 7 o'clock this evening the mercury was still 10 degress below. The cold wave extends from St. Paul to the Rockies, the register at Helena at 8 o'clock tonight being 10 below. Snow in Texas. DALLAS, Tex., Jan. 27.-Specials from all parts of Texas report a general snow

15. September 12, 1897 The Sun New York, NY
Article from The Sun, September 12, 1897

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THE WHATE PASS BOOK CASE. Important Sult Growing Out of the Closing of Two Binghamion Banks in 1895. BINGHAMTON, Sept. 11.-The famous white pass book" case came up for trial at a special term of the Supreme Court in this city Friday before Judge Mattice of Oneonta. The amount involves $125,000, and there are about 140 pass books. About forty different law firms are engaged in the case. This suit arose out of the sensational closing of the National Broome County Bank and the Chenango Valley Savings Bank about Jan. 20, 1895, by the bank department. Ex-Mayor Tracy R. Morgan was Cashier of the National Broome County Bank and Treasurer of the Chenango Valley Savings Bank. Orris U. Kellogg of Cortland, N. Y., receiver of the National Broome County Bank, brings the action to determine whether the bank represented by him or the Chenango Valley Savings Bank should pay the amount of these white pass books. The Chenango Valley Savings Bank and the holders of the white pass books are made defendants in this action, and the relief demanded in the complaint is, which bank is liable under these books. Over ten years previous to the closing of these banks Mr. Morgan had been receiving deposits and issuing to depositors these white pass books in the name of the National Broome County Bank. No record, however, of any of these deposits appears on any of the books of the National Broome County Bank, neither does a record appear on any of the books of the Chenango Valley Savings Bank. The two banks do business in the same room in the Phelps Bank building. and Mr. Morgan had general supervision of both of them. It is contended on the part of Mr. Kellogg. the receiver of the National Broome County Bank. that all of themoney represented by these books was paid in through the window of the savings bank, and therefore that bank should be liable, although the books are issued in the name of the National Broome County Bank. On the part of the savings bank it is contended that it never, in fact, received the money, and the books being issued in the name of the National Broome County Bank by Mr. Morgan, who was the Cashier, the savings Lank 18 not liable. Soon after the closing of these two banks, in the vault used by both was found an individual ledger containing a full record of the deposits and payments made by Mr. Morgan concerning the white pass books, but there was nothing in the ledger to indicate which bank it belonged to. What has become of the $125,000 represented by these pa 8 book is a mystery, and is one of the sensational questions involved in the closing of these banks, which resulted in the finding of a number of indictments against Mr. Morgan. The Court will be required to take evidence as to Mr. Morgan's transactions with each individual depositor. and from that evidence will determine to which bank he will charge the amount represented by each pass book. No doubt at least two weeks will be consumed in the trial of the case.