14863. Farmers & Citizens National Bank (Brooklyn, NY)

View Charter #1223 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
1223
Charter Number
1223
Start Date
September 5, 1867
Location
Brooklyn, New York (40.660, -73.951)

Metadata

Model
gpt-5-mini
Short Digest
2a67536a

Response Measures

None

Receivership Details

Depositor recovery rate
96.0%
Date receivership started
1867-09-06
OCC cause of failure
Losses
Share of assets assessed as good
74.9%
Share of assets assessed as doubtful
7.8%
Share of assets assessed as worthless
17.4%

Description

The Comptroller of the Currency appointed a receiver (government action) in early September 1867 because the bank failed to maintain the required lawful-money reserve. There is no clear contemporaneous description of a depositor panic/run that caused the action—articles describe sealed doors, crowds demanding redress, and later depositors receiving a dividend from the receiver, but the primary action is a government-ordered receivership/suspension. Although later legislative action (March 1868) authorized restoring the bank under conditions, the sources here document the receivership and dividend payments rather than a clear successful reopening; therefore I classify this as suspension_closure (suspension with receiver appointed and no documented full reopening in these articles).

Events (7)
1. June 5, 1865 Chartered
Source
historical_nic
2. September 5, 1867 Receivership
Newspaper Excerpt
The affairs of the Farmers' and Citizens' National Bank of Brooklyn were... placed in the hands of a receiver. Billholders are of course secured, and no doubt depositors also.
Source
newspapers
3. September 5, 1867 Suspension
Cause
Government Action
Cause Details
Comptroller of the Currency appointed a receiver because the bank failed to keep the required lawful-money reserve (failed to make good a reserve shortfall after notice).
Newspaper Excerpt
TREASURY DEPARTMENT... did not... have on hand, in lawful money... and... was duly notified... did wholly fail... do hereby appoint Frederick A. Platt ... Receiver of the said The Farmers' and Citizens' Bank of Brooklyn
Source
newspapers
4. September 6, 1867 Receivership
Source
historical_nic
5. September 8, 1867 Other
Newspaper Excerpt
Intense excitement prevailed among the depositors... The doors of the building were sealed yesterday, and no admittance was given to any of the numerous unfortunate ones who crowded about it demanding some redress.
Source
newspapers
6. February 21, 1868 Other
Newspaper Excerpt
The receiver... instructed by the Comptroller... to pay a dividend to its depositors yesterday... All were paid promptly fifty-five cents on the dollar ... Over $400,000 were paid out during the day.
Source
newspapers
7. March 2, 1868 Other
Newspaper Excerpt
JOINT RESOLUTION authorizing the Comptroller of the Currency to revoke the appointment of receiver for the Farmers and Citizens' National Bank of Williamsburg, New York, and to restore said bank to its owners under certain conditions.
Source
newspapers

Newspaper Articles (18)
1. September 7, 1867 New-York Tribune New York, NY
Article from New-York Tribune, September 7, 1867

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THE NATIONAL BANKS. THE FARMERS' AND CITIZENS' NATIONAL BANK OF BROOKLYN-A RECEIVER APPOINTED. TREASURY DEPARTMENT, OFFICE OF THE CONTROLLER OF THE CURRENCY, WASHINGTON, D. C., Sept. 5, 1867. Whereas, The' Farmers and Citizens' National Bank of Brooklyn, a National banking association, organized pursuant to the laws of the United States, and located in the City of Brooklyn, in the State of New-York, did not, on the 20th day of July, 1867. have on hand, in lawful money of the United States, an amount equal to 15 per centum of its circulation and deposits, and said association, on the 30th day of July aforesaid, was duly notified to make good such reserve of lawful money and Whereas, Said association did wholly fail, for 30 days thereaffer, to make good its reserve of lawful money of the United States, and has not yet made good the same, as appears from the report of Charles Callender, National Bank Examiner, made to this office on the 2d day of September instant, Now, therefore, I, Hiland R. Hulburd, Controller of the Currency, with the concurrence of the Secretary of the Treasury, in pursuance of the power and authority vested in me by law, do hereby appoint Frederick A. Platt of the City of Brooklyn, New-York, Receiver of the said "The Farmers' and Citizens' Bank of Brooklyn," with all the powers, duties, and responsibilities given to or imposed upon a Receiver under the provisions of the act, entitled " An act to provide a national currency, secured by a pledge of United States bonds, and to pro vide for the circulation and redemption thereof," approved June 3, 1864. In witness whereof I have hereto subscribed my name and have caused my seal of office to be affixed to these presents, at the City of Washington. in the District of Columbia, the day and year first above written. HILAND R. HURLBURD, Comptroller of the Currency. [L. 8.] HUGH McCULLOCH Approved and concurred in. Secretary of the Treasury.

2. September 7, 1867 Evening Star Washington, DC
Article from Evening Star, September 7, 1867

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TELEGRAMS, &c. In the Burrell claim-for furnishing troops to fill the quota of Boston during the war-of nearly one million dollare, which was tried in United States Circuit Court in that city, Judge Gifford yesterday gave a decision that the city had no right to assess money to pay the claim, and instructed the jury to return a verdict adverse to the plaintiff, which they did. Accounts from various portions of Mississippi represent that the cotton worm has made is appearance, but so far the cotton has sus. tained but little damage. The crop is represented as unprecedented in that State. The new crop of cotton is coming into market very slow. a special dispatch from Montreal report as serious riot among the Irish at Griffintown. A great many were wounded, and three so badly beaten that it is not certain whether they are dead or alive. The affairs of the Farmers and Citizens' National Bank, of Brooklyn, N. Y., were yesterday placed in the hands of a receiver. Billholders are of course secured, and no doubt depositors also. Two cases of yellow fever have been sent to the hospital in Mobile from the schooner Dawn, lately from Tampico. No cases origi. nating in the city have been reported. A dinner was given in Charleston yesterday evening by the staff and other officers of Gen. Sickles' command to that officer. Gen. Canby and staff were the invited guests. A fire broke out in Baltimore yesterday evening at Jacksons & Neilson's coal oil refinery, and extended to the American Compamy's refinery. Loss $20,000. The rowing match on the Hudson, at Newburg, N. Y., between Hamill and Brown has been postponed until this morning, owing to rough weather yesterday. A dispatch from Poughkeepsie. N. Y, states that one of the officers of the First National Bank of Kingston failed for $200,000, and the bank losses $70,000. Great preparations are making for the fair which opens next week at Sacramento, California. Nativesilk and cotton fabrics will be exhibited.

3. September 7, 1867 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, September 7, 1867

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e New York Items. NEW YORK, Sept. 6. William Tucker, a native of Massachusetts, was arrested at Brooklyn yesterday, charged with forging a draft on a Savings Bank. A Key W est despatch states that the cable is complete from Havana, but the Captain General does not allow news or despatches to pass over it, on account of political troubles there. Kealey, charged with the murder of Colonel O'Brien during the auti-conscription riots, was to-day held in $3.000 bail. Kate Cannon, who was brutally outraged in Mulberry street on Tuesday night, died this morning from injuries received. The villains have not yet been discovered. The affairs of the Farmers' and Citizens' National Bank of Brooklyn, were to-day placed in the hands of receivers. The bill holde of course, are secured, and no doubt the itors also.

4. September 8, 1867 The New York Herald New York, NY
Article from The New York Herald, September 8, 1867

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EUROPE The news report by the Atlantic cable is dated yesterday evening. September 7. The Prussian government issued a peace circular in which it 18 stated that the pacific declarations of the Marquis de Moustier, the French Foreign Minister, are "highly satisfactory." General Garibaldi dined with the Prussian Minister in Florence, by special invitation, when on his way to the Peace Congress of the revolutionists in Geneva The Austrian cabinet has been reconstructed. A number of Irish policemen have been dec. orated with English medals for action in the Fenian campaign. The little American schooner John T. Ford drifted to the coast of Ireland after being capsized. Valuable papers have been found on the wreck and se. cured. The Turkish naval authorities on the coast of Candia compelled an American vessel to desist from shipping insurrectionary refugees. Consols closed at 943. for money. in London. Five. twenties were at 73% and firmer in London, and at 77 in Frankfort. The Liverpool cotton market was easier, with middling uplands at 10d. Breadstuffs firm. Provisions and produce without material change. MISCELLANEOUS. Further particulars of the Naugatuck railroad accident disclose the fact that a passenger car was also precipitated from the bridge but without injury to the passengers. or the sixteen inmates of the baggage car which was swept with wonderful rapidity down the stream by the swollen current, eight lost their lives and four bodies have been recovered. A coroner's jury rendered a verdict stating that the bridge was an " insufficient struc. ture." Intense excitement prevailed among the depositors in the Farmers' and Citizens' National Bank, of Brooklyn, yesterday on receipt of the information that the institution bad been placed in the hands of a receiver. Heavy losses are experienced by this blow among the merchants of Williamsburg. The doors of the building were sealed yesterday, and no admittance was given to any of the numerous unfortunate ones who crowded about it demanding some redress. It is stated that the president of the bank kept his knowledge of the notification received from the Treasury Department for nearly a month from the directors. and the collapse was as adden to them as to the stockholders. No statement of the affairs of the bank has yet been put forth by the directors. The Merchants' and Traders' Bank, of Greenpoint, also suspended payment yesterday, as all its deposits were in the hands of the defunct institution. Several of the banks suffered slight losses by this double failure. An inquest was held on the body of John O'Flynn yesterday at Bellevue Hospital, and a verdict was ren. dered that he came to ha death from the effects of a fracture of the skull produced by a blow from the fist of William McKenzie, who has been arrested. General Griffin has assumed command at New Orleans, and in his initial order directs that all existing orders will remain is force. The Montreal riots have ceased and the town is again quiet. One man killed and thirty serious wounds from gunshots and stones are the sum total of casualties on rough estimation. Several of the alleged rineleaders were discharged from custody by the court yesterday. Middleton. an oil merchant, whose stores in Montreal were recently destroyed by fire, is reported to have absconded, leaving behind 3 deficiency of $43,000 on his books. General Sheridan arrived in Cairo yesterday, and started immediately by rail for St. Louis, no time being given for a demonstration in Cairo, beyond firing a salute. The population of San Francisco is now 130,000, an increase of 74,000 in seven years. A defaulting cashier in San Francisco recently ab. seconded for China with $100,000 worth of "misapproprinted" funds. The California election, it is claimed, was carried solely through the apathy of republicans. Some of the strong republican counties showed a heavy falling off in the vote polled, and even went strongly democratic. M. Alphonse Dano, the late French Minister in Mexico, sailed from this port yesterday for France. Frederick Horricks, the late Belgian Charge d'Affaires in Mexico, accompanied him. A Washington correspondent of a Boston paper states that the President's friends have telegraphed to General McClelian to come on to Washington, if he will attach himself to the President's cause. Abraham Myers, the conservative candidate for Mayor of Nashville, was killed by a fall from a staircase yes. serday. It was rumored in Washington yesterday that Secretary Seward had resigned. and that Reverdy Johnson was to be appointed Secretary of State. Secretary McCulloch is about preparing a revised and corrected statement of the public debt, in which he will show that the debt has been reduced nearly $265,000,000 within the last two years. Forty-three deaths from yellow fever occurred in New Orienas vesterday. Boats from that city are placed under quarantine at Vicksburg. The Newburg boat race was again postponed yesterday owing to the roughness of the water; this timel until Monday. The Fenian Congress at Cleveland yeaterday appolated . committee to confer with a committee from the Savage

5. September 9, 1867 Evening Star Washington, DC
Article from Evening Star, September 9, 1867

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BANK FAILURES IN NEW YORK. - The Herald of yesterday says Intense excitement prevailed among the depositors in the Farmers' and Oitizens' National Bank, of Brooklyn yesterday, on receipt of the infor. mation that the institution had been placed in the hand of a receiver. Heavy losses are ex. perienced by this blow among the merchants of Williamsburg. The doors of the building were sealed yesterday, and noadmittance was given to any of the numerous unfortunateones who crowded about it demanding some re. dress. It is stated that the president of the bank kept bis knowledge of the notification received from the Treasury Department for nearly a month from the directors. and the collapse was as endden to them as to the stock. holders. No statement of the affairs of the bank has yet been put forth by the directors. The Merchants' and Traders' Bank, of Greenpoint, also suspended payment yesterday. as all its deposits were in- the hands of the defunct institution. Several of the banks suffered slight losses by this double fatiure.

6. September 12, 1867 The Charleston Daily News Charleston, SC
Article from The Charleston Daily News, September 12, 1867

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Failure of a National Bank in Brooklyn. The failure of the Farmers' and Citizens' National Bank of Brooklyn, and the appointment of a receiver for the same, is announced. The Brooklyn Union of Saturday says It will be remembered that early in the winter of 1866 the messenger of this bank, while proceeding along Beekman street in New York, was attacked by a man who robped him of a valise cortaining some ten thousand dollars. After the commission of the robbery the thief jumped into a butcher's wagon with his booty, and nothing has yet been seen or heard of him. The bank was established in 1852, and in 1865 continued business under the national bank system. The capital was represented at $300,000; shares, 15,000; par $20. The following are the officers of the bank: President, Oren M. Beach; Cashier, Henry W. Redfield; Directors, O. M. Beach, Anthony Bets, John Hicks, David Sturtevant, Sylvester Tuttle, W. I. Pooley, S. W. Woolsey, Sylvester M. Beard, Watsor Sanford, George Ricard, Howell Smith, David Williams, and Daniel D. Leary. The affairs of the bank, by those who have the most at stake on its solvency, are not considered such as to warrant any fears of ultimate loss. The folowing, as nearly as it could be ascertained, is the financial condition of the bank : Its capital stock is $300,000: its deposits about $1,000,000; circulation, including about $9000 of notes issued under the old organization, $2000 to $5000 the reserve, amounting to 15 per centum of deposits and circulation, as required by law, should have been about $200,000; but it fell short on the 30th of July about $100,000; after the expiration of the thirty days notice to make good the deficit in the reserve, the law not being complied with, the order of the Comptroller was issued this morning. Mr. Frederick A Platt took charge of the affairs of the bank. It is rumored that the officers of the bank believed that they had complied with the law, inasmuch as the alleged deficit was represented by checks, gold certificates aud other available securities. The law provides that "clearing house certificates, representing lawful money, shall be deemed to be lawful money." It is claimed that the whole difficulty between the officers of the bank and the Treasury Department arose from a difference of construction of the statute, and the nature of the reserve required. Among the depositors was the German and Dime Savings Banks, of the Western District. The former had a deposit of $15,000; the amount of the latter could not be ascertained. Whether the depositors lose anything or not, the holders of the notes of the bank need give themselves no trouble, as they are secured by the United States, and will be paid whatever becomes of the bank.

7. September 12, 1867 The Evansville Journal Evansville, IN
Article from The Evansville Journal, September 12, 1867

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NATIONAL BANK FAILURES 1 The Comp troller of the Currency has appointed a receiver over the Farmers' and Citizens' National Bank, of Brooklyn, on account of the bank having failed to keep its lawful reserve of legal tender notes. This bink was established in 1852, and organized under the National Bank system of 1865, with a capital f $300,000. The Commercial Advertiser says it enjoyed only limited confidence, and the failure does not excite surprise. It IS also announced that the National Bank at Kingston, Ulster County, N. Y., is in trouble. Mr. Callender, the Government Examiner, is in charge. and it is reported that the President of the bank has made an assignment of his personal estate, the proceeds of which will be enough to meet the deficiency in the bank assets, and to enable the institution to pay 100 cents on the dollar. The capital of the bank was $200,000, the deficiency bv the President $91,700, of which the loss by the bank, as reported by the Cashier, will not exceed $10,000.

8. September 13, 1867 The Daily Gate City Keokuk, IA
Article from The Daily Gate City, September 13, 1867

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FROM WASHINGTON. / WASHINGTON, Sept. 12. The Intelligencer has an editorial, in which it strongly hints at an uprising of the people in Maine, and of such a character that it is the President's duty to vacate most of the Federal offices in that State and fill them with Democrats and conservatives. NEW YORK, Sept. 12. The Times' Washington special says: It has been repeatedly stated that a dispatch, dated August 13th, from Gen. Grant to Gen. Sickles, which was printed Saturday last, completed the correspondence. This is not the case. There are one or two other brief dispatches, and a letter from Gen. Grant to Gen. Sickles, dated August 24th, which, ber ing understood by the latter to be private, he has not published, although Grant intended his authorization to cover everything. In this letter Grant commends the wisdom of Sickles' acts. A deputation of the officers and directors of the Farmers' and Citizens' National Bank, Brooklyn, consisting of Dr. M. Beach, President, Smyth Sheldon, S. M. Beard, and oth err, are here endeavoring to induce the Comptroller of Currency to restore the bank to its managers, on the ground that it is a public benefit, and they offer, as directors, to guarantee the indebtedness to the bank of certain sums, amounting to over $300,000, it their request is complied with. There is great doubt if the Comptroller has the power, under the law, to suspend proceedings after they are once begun, and the application of these parties is suspended pending a legal opinion on the point. Further correspondence relative to the Al. abama claims against Great Britain is made public. August 27, 1866, Secretary Seward sent to Minister Adams a summary of the claims of the citizens of the United States for damages from the privateers fitted out from British ports, and requests that Lord Stanley may be informed that the settlement of these claims has become urgently necessa. ry, to re establish entirely the friendly rela. tiobs between the United States and Great Britain. The hostile course of the latter country during the rebellion is contrasted with the action of the United States Govern. ment toward the Fenian invasion of Canada in the following words: "Thus we have Been ruinous British warlike expeditions against the United States practically allowed and tolerated by her Majecty's Government, notwithstanding remonstrance, and we have seen similar unlawful atterapta in this country against Great Britsin not allowed, and defended by direct and unprompted action of the Government of the United States." The Tribune's special says that the Presi dent will keep quiet now until after the fall elections. No Cabinet changes will take place until after the Pennsylvania, Ohio and New York elections. It is probable that the President will suggest to the District Commanders that the elections at the South all take place OR the name day.

9. September 13, 1867 New-York Tribune New York, NY
Article from New-York Tribune, September 13, 1867

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THE NATIONAL BANKS. THE FARMERS' AND CITIZENS' BANK OF BROOKLYN-THE FIRST KINGSTON (N. Y.) BANK. WASHINGTON, Sept. 12.-A number of the Directors of the Farmers' and Citizens' National Bank of Brooklyn have had an interview with the Controller of the Currency, in order to indnce him to revoke his order appointing a Receiver, and proposing to take such measures as would guarantee its solvency. The Controller did not accede to the wishes of the Directors, and the Receiver will continue to discharge his duties. The First National Bank of Kingeton, N. Y., will probably suffer no loss by the failure of its President, as it is said he has turned over property sufficient to cover the amount of its liabilities.

10. September 13, 1867 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, September 13, 1867

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New York Specials. NEW YORK, Sept. 12.-The Herald's special says: Developments of the Internal Revenue frauds are taking a tangible shape and are so wide in their ramification, it is said, as even to implicate certain members of the Washington Cabinet, whose identity at present is concerned. Proceedings in the Revenue Board over these alleged frauds are said to have been somewhat stormy, some of the members offering to resign on account of them, and Mr. Rollins' presence here au one time was in furtherance of an investigation of the subject. J. C. Allen, keeper of the warehouse on Sedgwick street, whose alleged frauds have been committed, WAS arrested and held in twenty thousand dollars bail, with charge of complicity in the illegitimate removal of 20,000 gallons of Whisky. Mr. Callcot, it is said, has brought to the knowledge of Washington officials some very ugly matters relative to the doings of his prosecutors. J. C. Thompson. keeper of the bonded warehouses, Nos. 24 and 46 Sedgwick street, Brooklyn, was arrested and taken before Commissioner Newton at the U.S. Court, on a charge of being implicated in the removal of 20,000 gallons of whisky which had been placed in his charge. He was held to bail in the sum of twenty thousand dollars. A Times' special says: It has beeu recently stated that the dispatch dated August 13, from General Grant to Gen. Sickles, which was printed Saturday last, completed their correspondence. This is not the case. There are two other brief dispatches and a letter from General Grant to General Sickles, datep Aug. 24th, which being understood by the latter as private, he has not published it. In this letter General Grant comments on the wisdom of General Sickles. A deputation of officers and directors of the Farmers and Citizens' National Bank of Brooklyn, consisting of O.M. Beach, President, Smith Sheldon, S.M. Beard and others are bereendeavoring to induce the Comptroller of Currency to restore the bank to its managers on the ground that it is a public benefit, and they offer, as directors, to guarantee an indebtedness to the bank in certain sums amounting to over $300,000 if their request is complied with. There is great doubt if the Comptroller has powor under the law tosuspend proceedings after they are begun, and the application of these parties is suspended by the pending legal opinion on this point. The Tribune's special says, the President will remain quiet now till after the fall elections. No Cabinet changes will take place till after the Pennsylvania, Ohio and New York elections. Probably the President will suggest to District Commanders that the elections in the South all take place on the same day.

11. September 13, 1867 Daily Ohio Statesman Columbus, OH
Article from Daily Ohio Statesman, September 13, 1867

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FROM NEW YORK. News from the Indian Country New YORK, Sept. -The Herald's Sioux City dispatch says: The Indian Commisreached here at noon to-day, all well. will be held with all of of Indians as far as reservations were on river and at Councils ent The sion Big bands Indian Cheyenne the situated Fort the mouth starts differ- Suily. at of the Nebraska. The Commission once for Omaha, and from thence to Fort Laramie, to visit hostile tribes. The Herald's Leavenworth special says: The Indians fired into a passenger train, six miles west of Fort Harker, to-day. They had placed ties on the track, which were removed by the pilot of the locomotive, when about thirty-five Indians into rose up from a ravine and poured a volley the cars without injuring any one. A band of Cheyennes murdered three men the and one woman at Pilumle Buttes, on a Little Arkansas, a few days since. and boy named Nealon was served the sa me way on last Saturday at Crow Creek, 19 miles west of Fort Harker. The Revenue Frauds. The Herald says: The developements of Internal Revenue frauds in Brooklyn are in taking tangible shape and were so wide their ramifications, it is said, as even to implicate certain members of the Washing- is Cabinet, whose identity at present concealed. ton The proceedings in the Revenue Board over these alleged frauds are said to have been somewhat stormy, some of the members offering to resign on account of them. and Mr. Rollins' presence here at time was in furtherance of an investigation one of the subject. J.C. Allen, keeper of the warehouse on Sedgwick street where the alleged frauds are said to have been committed. was arrested yesterday and held in twenty thousand dollars bail, with a charge of complicity in the illegal removal of 20,000 gallons of whisky. Mr. Callicott, it is said, has brought to the knowledge of the Washington officials some very ugly matters relative to the doings of his prosecutors. J. C. Thompson. keeper of the bonded warehouses Nos. 24 and 26 Sedgwick street, Brooklyn, was arrested and taken before the Commissioner at the United States court on a charge of being implicated in the removal of 20,000 gallons of whisky which had been placed in his charge. He was held to bail in the sum of $20,000. Grant and Sickles. The Times' special says: It has been-repeatedly stated that the dispatch of August 13th, from General Grant to General Sickles, which was printed on Saturday last, completed the correspondence. This is not the case. There were one or two other rief dispatches, and a letter from General Grant to General Sickles, dated August 24th, which being understood by the latter to be private he has not published, although Grant intended his authorization to cover everything. In this letter General Grant commends the wisdom of Sickles' acts. Tue Farmers' and Citizens' Banks. A deputation of officers and directors of the Farmers' and Citizens' National Bank of Brooklyn, consisting of Oren M. Beach, President. Smith Shelden, S. M. Baird and others, are here endeavoring to induce the Comptroller of the Currency to restore the Bank to its managers, on the ground that it is a public benefit, and they offer, as directors, to guarantee the indebtedness of the Bank to certain sums amounting to over $300,000, if the request is complied with. There is great doubt if the Comptroller has power under the law to suspend proceedings after they are once begun, and the application of the parties is suspended, pending legal opinion on this point. The Alabama Claims. Further correspondence relative to the Alabama claims upon Great Britain is made public: August 27. 1866, Secretary Seward sends to Minister Adams a summary of the claims of citizens of the United States for damages from privateers fitted out from British ports, and requests that Lord Stanley may be informed that settlement of these claims have become urgently necessary to the reestablishment entirely of friendly relations between the United States and Great Britain. The hostile course of the latter country during the rebellion is contrasted with the action of the United States Government toward the Fenian invasion of Canada in the following words: "There we haveseen various British warlike expeditions against the United States practically allowed and tolerated by Her Majesty's Government, notwithstanding remonstrance, and we have seen since that unlawful attacks in this country against Great Britain disallowed and defeated by the direct and unprompted action of the United States." The President. The The Tribune's special Presi-

12. September 13, 1867 The Wheeling Daily Register Wheeling, WV
Article from The Wheeling Daily Register, September 13, 1867

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FROM NEW YORK. Indian Affairs. Internal Revenue Frands-Great and Sickles-Bank Affairs-Alabama Claims-Correspendence-The President. NEW YORK, September 12.-The Herald's Sioux City special says: The Indian Commissioner reached here at noon to-day. All well. Councils were held with all of the different bands of Indians as far as Fort Sully. The Indian reservations were selected on Big Cheyenne river, and at the mouth of the Nebraska. The Commissioner starts at once for Omaha, and from thence to Fort Laramie, to visit the hostile tribes. The Herald's Leavenworth special says: The Indians fired into a passen ger train six miles west of Fort Harker ties on the were of about track, to-day. the which locomotive, They had removed when placed by the thirty- pilot five rose a and a poured Indians volley into up from the cars, ravine without injuring any one. A band of Cheyennes murdered three men and one woman at Plumb Bottom, on a few a named same at since, served the and the Little boy Arkansas, way last Malone Saturday days was Cow Creek, nineteen miles west of Fort Hacker. The Herald's special says: Developments of the internal revenue frands in Brooklyn are taking a tangible shape, and are so wide in their ramifications, it is said, as even to implicate certain members at at The Board whose proceedings identity of the Cabinet in present the Revenue is Washington, concerned. over these alleged frauds is said to have been somewhat stormy. Some of the members are offeriug to on Rolresign presence account here of them, time and Mr. was lins at one in furtherance of an investigation of the subject. Allen, keeper of the warehouse on leged was'arrested Sedgwick frauds yesterday street, have by been and whom held committed, the in $20, al000 bail, with a charge of complicity in the removal of 20,000 gallons of whisky r.Callicott, it is said, has brought to the knowledge of the Washington officials some very ugly matters relative to the doings of his prosecutors. J. C. Thompson, keeper of the bonded warehouse Nos. 24 and 26, on Sedgwick street, Brooklyn, was arrested and taken before Commissioner Norton on charge of being implicated in the removal of 20,000 gallons of whisky which had been placed in his charge. He was held to bail in thesum of $20,000. The Times' special says: It has been recently stated that the dispatch dated August 13th, from General Grant to General Sickles, which was printed on Saturday last, completed the correspondence. This is not the case. There are one or two other brief despatches, and a letter from General Grant to General Sickles, dated August 24th, which, being understood by the latter to be private, he has not had it published. In this letter General Grant comments the wisdom of Sickles. A delegation of officers and directors of the Farmers' and Citizens' National Bank of Brookln, consisting of Owen M. Beach, President: Smith Sheldon, S. M. Beard and others, are here endeavoring to induce the comptroller of currency to restore the bank to its managers, on the ground that it is a public benefit, and they offer, as directors, to guarantee for the indebtedness of the sums to over was doubt if the $300,000, with. bank, certain There if their is request amounting complied to after are comptroller suspend proceedings, has power, great under the they law, once begun, and the application of these parties was suspended. pending legal opinion on this point. to the is made Further Alabama and Great correspondence claims between relative the United 27th, sent to lic. Seward States On August Minister Britain 1866, Adams Secretary a sum- pabmary of the from teers, out British United of fitted States the claims for damages from citizens ports, priva- of and requests that Lord Stanley may be informed that the settlement of these claims has been urgently necessary to there-establishment of entirely friendly relations between the United States and Great Britain. We have seen the ruinous British warlike expedition against the United States practically allowed and tolerated by Her Majesty's Government, notwithstanding our remonstrange, and We have seen similar unlawful !attempts in this country against Great Britain disallowed and defeated by the direct and unprompted action of the Government of the United States. The Tribune's special says: The President will keep quiet now till after the fall elections. No cabinet changes will take place till after the Pennsylvania, Ohio and New York elections. Probably the President will suggest to the district commanders that the elections at the South all take place on the same day.

13. October 10, 1867 Clearfield Republican Clearfield, PA
Article from Clearfield Republican, October 10, 1867

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NATIONAL BANKS SUSPENDED.-The following National Banks have passed into the hands of Receivers: Croton National Bank, N. Y. National Bank of W bitestown, Oneida county, N. Y. Atlas Bank, of Providence, R. I. Unadilla National Bank, Unadilla, New York. Kingston National Bank, Kingston, New York. Farmers' and Citizens' National Bank, Brooklyn, N. Y. First National Bank, Utica, N. Y. First National Bank, Medina, N.Y. First National Bank, Columbia, N.Y. Venango National Bank, Franklin, Pennsylvania. Merchants' National Bank, Washington, D. C. Tennessee National Bank, Memphis, Tennessee. First National Bank, New Orleans, Louisiana. First National Bank, Carondelet, Missouri. First National Bank, Selma, Alabama.

14. January 29, 1868 The New York Herald New York, NY
Article from The New York Herald, January 29, 1868

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THE FARMERS AN CITIZENS' BANK OF BROOKLYN. TREASURY DEPARTMENT, OFFICE OF COMPTROLLER OF THE CURRENCY, WASHINGTON. Jan. 27, 1868. Sia-Yours of December 30, 1867, was duly received. The consideration of the propriety of declaring a dividend for those who have made proof of their claims against the Farmers and Citizens' National Bank of Brooklyn, N. Y., is for the present necessarily deferred until the proceedings before the United States Circuit Court in the matter of said bank are determined. Very respectfully, R. H. HULBURD, Comptroller. F. A. PLATT, Receiver Farmers and Citizens' Bank, Brooklyn, N. Y.

15. February 1, 1868 The New York Herald New York, NY
Article from The New York Herald, February 1, 1868

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FARMERS AND CITIZENS NATIONAL BANK. Meeting of Depositors in Willi iamsburg Last Night. Pursuant to advertised call meeting of depositors in the Farmers and Citizens' National Bank, Williams burg, was held last evening. at Masonic Temple, corner of Grand and Seventh streets, Brooklyn, E. D., for the purpose of consulting together in reference to their position, and to exchange views as to the proceedings now pending in the United States District Court directors of the bank, which was seized some time since, by order of the Comptroller of the Currency having obtained an order for the government to show cause why the institution should not be returned to their hands. Judge George Thompson was called to preside and Dr. Wren was elected secretary In stating the object of the meeting Judge THOMPSON remarked that the bank, as they all knew, collapsed early in September last It was not ne eseary to review the causes of that collapse, nor to rebearse the proceedings had since. He would only say that investigation into the affairs of the institution had developed the practice of most astounding rascality on the part of some of officers: now its after and talked long listribution of the proceeds, or rather the funds of deposi lle tors, there notice given of further litigation. knew not how this matter struck others who were terested the recovery of the money they bed on deposit, but to him seemed eminently proper that consult ogether should they the progress wanted institution. of He the the bank of more be one than more altogether deposit, ignoring item of important very had circulation during the past six months. was strafige that bank doing 80 fine business this one did should its general prosperity so suddenly collapse and close doors; but more astounding stilt the late action its officers Within ninety days from the time suspension at least one-half he amount due the positors might have been paid. He though that of mon who had lost the confidence or citizens ought expect much favor from the people now. view of their late action. Prior to September 6 there funds in the institution but for practical purposes, the concerned there so were far depositors, now Acts had been by some party or parties connected with the bank that they should blush to think of for acts less henious than which sent men Sing Sing. The were daily depositors had waited in patience hoping see their losses of after If to months waiting them. made good the project has not favorable features in the public it because the public. judginz from the acts of are ties with matter. the the belief connected that whole outlook affairs savors of speculating on the funds of the sitors. If these 1er ositors by this meeting to achieve anything was their own half nobody would be hurt: but was their right and their duty to make the effort He was not prepared uphold the action either of the receiver or of the old board directors in the premisos. In his opinion they both ought to meet large amount!or charges this community, for want of activity in the discharge of their duties of letter was then read from Mr E. A. Thurston, Greenpoint depositor. prominent meeting to act in spirit toward the stockholders and directors of the bank audience that the the uggested if Board of Directors would withdraw their present legal action and allow the Rece eiver to pay dividend to de. positors they would prove themselves worthy of being treated conciliatory spirit Fox noved a committee be Mr. that ap GEORGE pointed wait on the Directors and indace them to suit withraw had they the Mr. JOHN M STEARN said that any action taken by were intended the create antagouism an meeting between the lockholders and the would be injurious, He would not like see the stock soeki embarrassed in their bolders under rights ng the law large number them. say were parties innocent least. many wise no the females, in These. three oficers. duct the fourths had of stockholders. whole the number when bank owned They stock their under the State law and should not be made to suffer action tending He was any opposed the suit if they were to be adversely affected. He suggested the appointment of a committee to confer with them A VOICE- This is a meeting of depositors Let the tockholders look out for themselves let them pay cording law Mr GEORGE Fox said it was idle to talk of guardir of the Some the of money rights already gone in the oil way and much more of it had gone by line of certain railroad Applause. remarked that the Comptroller of the Currency had decided that the money on hand should depositors to present distributed not be pending He saw good to be gained abasing harm there stockholders but no the could be ap. to the of urge pointing in view was now object The determine only what could be done in regard to getting their money out the hands. Receiver's of The CHAIRMAN said that the suit had been brought eujoin the name of the bank and object Receiver (Mr. Platti from paying out the money the the bank restore hands and to irectora, they that had rights, claiming reckless manner which loans had been made the any to sufficient swamp to be the without could benefited rights latter the of but depositors he the be first considered He had no great amount of confidence in the past directory of the institution. LAY Mr. C might be made to induce modification of the motion States Court District the before United not strain the Receiver from disbursing the funds on band The disposal of the money collected might be left to of the of the the aptroller discretion Dr. WREN said the directors had avowed their of the the acts of bank officers. ignorance ignorance worse than crime because was not their own money the officers had used: belonged He the depositors, who put the bank in good faith rested committee to wait on Comptroller Hulburd at Washington, and represent to the suffering accruing to depositors from further withho of money from them. Over $700. 000 was now in the Recoiver's hands About 200,000 was due deposite By getting the Comp allow the payment dividend the status of the suit in court would not be If this allowed. be affected. depositors might 20th the by proximo. paid, in part, Dr. Wright, Mr. Milton Woolley Mr. C. C. Lay the hairman, Mr. George B Remsen and Alderman Armfield severally expressed their views the burden of which was desire to relieve the Receiver from any odium in the matter and attaching all blame to the Comptroller of the ency for not allowing distribution of the funds in the Rece hands. be. He Mr. DEMAR STRONG was the last speaker saw fore him men with earnest faces desirous only of getting back their money. now locked up by order of the Comptroller the Currency When the aeizure was made the directors, to his know edge, their at tention to the interests of the depositors. They did not propose that the bank should be restored to them more. iy They went Washington and offered to enter into bond with the Comptroller in such amount as he offered only and qureties designate, be might might approve that. they were put in they would pay the deposit twenty. live per cont their deposits at once, and the balance thirty sixty and ninety days They had petition signed by majority of the depositors praying that the bank might be directors (the them the on to Comp up inquiry given troller should decide that they were able manage its affairs, and this petition they presented to that official in October last The Comptroller answered that they would procure the opinion of eminent counsel declaring that he (the Comptroller) had power to deliver the bank be would grant the prayer petition. They did procure that opinion. the bank was not restored The bill now reported to giving back contemplated the bank Congress only condition the depositors should be fully secured The was passed the depositors would lose nothing. directors had large deposits in the bank were proportionably the greatest losers, and heartily desired that every man and woman who money should be paid. dollar dollar institution the The suit about which so much talk had been made was all order. suit not merely motion reality show to the the why ing restored be not bank and should the which had manner the directors in been treated in Washington, its aim and object were fully justifiable. There opinion. why the depositors should not paid. Comptroiler the Currency does not allege power to order distribution, but he emphatically says he won't do so. There the bands Receiver $800 000 in cash. and about $600,000 The full assets, due available amount good not $1,200,000. If that could not be paid out of 000 then it would be because of want of desire 80 on the part of the directors. He hoped comointed app be wait to on would the directors They would be indly received and he felt no hesitancy 11 declaring that they would find the directors with earnestly Their desire was that every de. positor should get back his money, and that as soon as possible, In reply to an inquiry. Mr. STRONG said

16. February 21, 1868 The New York Herald New York, NY
Article from The New York Herald, February 21, 1868

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BROOKLYN INTELLIGENCE. THE LATE FARMERS AND CITIZENS NATIONAL BANK.The receiver of this institution having been instructed by the Comptroller of the Treasury to pay a dividend to its depositors yesterday, these victims poured into the bank building in a continuous stream from ten A. M. to four P. M. It was composed principally of men doing a small business and the representatives of wido WE and orphans whose dependence was at stake there. All were paid promptly fifty. five cents on the dollar, with a promise of more hereafter. Over $400,000 were paid out during the day, and $250,000 yet remain on hand for distribution. The payment of this dividend will materially affect the business interests of Williamsburg. WASHINGTON'S BIRTHDAY.-To-morrow being Washington's birthday and a legal holiday, business will be generally suspended in the Eastern district. This evening the Washington Association will give a grand ball and basquet at Masonic Temple. OIL WORKS ON FIRE.-About nine o'clock last night a fire broke out in the Diamond Light Oil Works, corner of North Thirteenth and Second streets, E. D., and damage to the amount of $10,000 was sustained; insured. The fire originated in the stillroom, and was of accidental origin. Fred. Stamp. one of the workmen, was slightly burned about the head. THE RECENT TUGBOAT EXPLOSION -Captain Dakin, of the tugboat James A. Wright, who was so seriously in. jured by the explosion of the boiler on Monday, is reported to be in an improving condition. The pilot, Mr. B. Fisher, is still in a precarious condition. The men are still as the Long Island College Hospital.

17. February 21, 1868 New-York Tribune New York, NY
Article from New-York Tribune, February 21, 1868

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the I White the and width, the with and of young met brother his Edward King Ed where the death; the Chapel the especially mentioned. BROOKLYN. The Brooklynites are begin the of cramming in the public schools Barnham's soirée Callisthenie takes place this evening A machine has been invented which, the plains Mr. William Newstreet lectured last night at Republican Headquarters, on great James Cassidy, while slightly intoxicated. walked overboard at the foot of Dock-s Wednesday night, but rescued. Mrs. Hughes fell dead in Hudson-ave. near evening. The body was taken Hudson in residence Only 113 of the 200 and more gas- -lamps in the lighted on Tuesday night. The remainder were scarcely visible. Mr. Henry Mott of Springfield, L.I. received the head Wednesday night, by fall on the at the corner of Middah and Willow-sts. J. The reported death of Mr. Cornelius incorrect Although laboring under illness, his phy sicians are of opinion that he will ultimately recover. The 30th annual ball in aid of the Brooklvn Roman Catholic Orphan is to take place Monday evening, under the spices of the Emerald Be Association. The young colored man, Francis Anthony, who alleged that he by the parents of betrothed visiting there on Sunday evening, died at his home on Wednesday night. pigeon-shooting match took place on Wed nesday at the House, between the Messrs Hartshorn and Bolmer, for $100 side. At the 20th shot both were even. and the stakes were drawn. The depositors of the Farmers' and Citizens National Bank Distric the dollar by Receiver Platt. Out of the in the hands of the Government nearly $400,000 disbursed The pilot of the steam-t tug James A. Wright Mr Benjamin Fisher in improving condition. and it A Silas The recover. captain, he that is probable Dakin, lies precarious condition. Both are at the Long Island College Hospital. The Grand Musical Entertainment held at the First Presbyteria Church on Wednesday under the auspices of Post No. 35, Grand Army of Republic. was complete The proceeds go to the families of sick and distressed soldiers. Washington's birthday is to be generally ob served Eastern District by the suspension of busi grand give Washington and bauquet at Masonic Temple. Grand and at light a national salute is to be fired. An inquest was commenced vesterday by Coroner Smith body of Henry Conklin, of 6th who penter, building Wykoff pelted obliged shelter the house wherein dispute some arose the two men, for on Conners being rested, Conklin found to have sustained injuries. The inquest was adjourned until Monday At the meeting of the Board of Fire Comthe Eastern District, on Wednesda even suspended from duty Jeffries, H. for giving false alarm on the 27th of Jen for and B George Evans, Lukey, George John charged. Wood, making fraudulent returns favor Evans election of officers pelled. The examination of J Slavin. Secretary Engine making false returns the Board, for Wednesday next FLUSHING Sedgwick of this place books large of pastor of the First Reform in Church Dutch amounting the gift of his parish foners. CYPRESS HILLS, L. On Wednesday the on Jamaica. driving along the by shistled harmlessly but the be murderer escaped. UNION COURSE -Coroner Hendrickson held inquest yesterday over the body of Mrs. Alfred an évenWednesday on place. residing Theal, last féll from her chair and almost The jury returned a verdict of death from disease of the heart. been has association HEMPSTEAD for of capital this formed the of Railroad determined upon by the the to MORRISIANIA Edward Hill' 8 residence on Eightl robbed on Wednes day morning of $700 worth of Dr Contliet. Mission The of Church, W between STATEN ISLAND The new Commissioners Messrs Island Drainage of Staten the Meyers. Scott, and Anderson Factoryville continues to meetings be MIDDLETOWN, The Trustees of the to Board of Education of for free condition that the Board pay all the property HUDSON CITY a meeting of the ComCouncil on Wednesday night. the North the County Railroad with refusing of accused Railroad Hoboken in city the outside their that and that property, citizens. the fit with the and side $100 for day JERSEY CITY Two new palace- have railroad of Fort Wayne They Coroner over the body of Mr. Alonzo Diver who was killed in late boiler explosion of the tug James A Wright, but postponed it until the evidence of the who at the Hospital on Staten Island, can be ob tained. NEWARK About a month ago, a man calle at: aboarding house in and board, saying that for the city sitting Into the dinner family room. Having been left by himself, he proceeded upper rooms of the house gathered up jewelry, money and clothing the value of $100, the premises. Yesterday morning a citizen of Newark visited watch factory in the lower portion of the city, where he mistaken by one of the workmen for the thief. and applied for his arrest. but before makin attidavit against the man, left to procure the services of another person, and, in the mean time, the accused entered the station house, he having heard of what was going About o'clock the afternoon. the lady keeping the boarding house and several of her peared to identify the man When the mistake to depart allowed discovered, Mr. E Spahn of this just painting of Gov. Marcus Ward of w-Jersey, which to be presented to that official in behalf of that re Robert the Carr. Republicans boy city siding at No. arrested yesterday accused of money from the He named

18. March 12, 1868 The National Republican Washington, DC
Article from The National Republican, March 12, 1868

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[PUBLIC RESOLUTION-No. 14.] JOINT RESOLUTION authorizing the Comptroller of the Currency to revoke the appointment of receiver for the Farmers and Citizens' National Bank of Williamsburg, New Yerk, and to restore said bank to its owners under certain conditions. Be it resolved by the Senate and House of Rep. resentatives of the United States of America in Congress assembled, That the Comptroller of the Currency be authorized, with the approval of the Secretary of the Treasury, to revoke the order appointing a receiver for the Farmers and Citizens' Bank, of Williamsburg, New York, and restore the said bank and the management thereof to the directors for the purpose of enabling the association to continue the business of banking: Provided, That said banking association shall first present to the Comptroller satis. factory assurances that the public interest will be promoted thereby, and shall secure, in such manner as the Comptroller shall direct, the full payment of all the creditors of the association, and shall restore the capital stock to its original amount in case the capital has been impaired by losses. Approved. March 2. 1868.