Bank of Cape Vincent - Cape Vincent, NY

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: September 30, 1915
Location: Cape Vincent, New York (44.128, -76.333)

Metadata

Model: gpt-5-mini
Short Digest: bf89b327

Response Measures

None

Description

The article states the Bank of Cape Vincent was compelled to close its doors. No run or reopening is mentioned. The closure is reported in a summary of the fiscal year ended Sept. 30, 1915; I use that year as the event date range. No receiver or explicit government action is described and no specific cause is given in the article.

Events (1)

1. September 30, 1915 Suspension

Cause Details: Article simply reports the bank was compelled to close its doors during the fiscal year; no specific cause given.
Newspaper Excerpt: The Bank of Cape Vincent, Cape Vincent, N. Y., was compelled to close its doors.
Source: newspapers

Newspaper Articles (1)

1. December 27, 1915 The Sun New York, NY

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Article Text

# N. Y. BANK DEPOSITS TOTAL $2,528,913,750 Only One State Institution, and That the Smallest, Failed This Year. # RESOURCES, CAPITAL UP ALBANY, Dec. 26. -Institutions under the supervision of the New York State Banking Department had a prosperous year during the twelve months ended September 30 last. Figures to substantiate this are included in a statement made to-day by State Superintendent of Banks Eugene Lamb Richards. According to Supt. Richards, seven new State banks were authorized during the year and five ceased to do business. Of those authorized, three, the Bank of Belfast, Bingham State Bank and Cohocton State Bank, had previously operated as private banking institutions, although not under the supervision of the Banking Department. The Bank of Cape Vincent, Cape Vincent, N. Y., was compelled to close its doors. This institution was one of the smallest in the State. The total number of banks of deposit and discount reporting to the Banking Department at the close of the fiscal year was 200. They show an aggregate gain in total resources during the year $12,373,957. Eighty-one trust companies of the State reported increased resources of $440,583,451, while total deposits increased $433,124.378. Total resources reported were $2,155,537,274 and total deposits $1,837,934,024. There were no changes during the past year in the number of savings banks, 140 of which had resources of $1,930.596.230, an increase over the preceding year of $18,572,355. Deposits were $1,791,524,601, a gain of $18,311,202. At the close of the fiscal year seventy-six private bankers, not including twelve partially exempt, were under the supervision of the Banking Department, The total resources of these bankers were $14,094,273. Under the supervision of the private bankers bureau were fifteen credit unions, two personal loan brokers and twelve personal loan companies, bringing the total number of these institutions up to 126. In addition to the regular examinations, numbering 201, as required by law, scores of special investigations were made on complaints as to the methods of certain private bankers for alleged violations of the banking law. From data furnished by the Comptroller of the Currency it appears that six national banks with a combined capital of $1,375,000 were authorized in this State between October 1, 1914, and September 30, 1915. During the same period three such institutions with a combined capital of $2,550,000 went into voluntary liquidation. One national bank was placed in the charge of a receiver during the year, but later resumed business. The number of national banks in this State reporting to the Comptroller of the Currency on September 2, 1915, was 482, with a combined capital of $166.218,610, surplus of $163,938,750, total deposits of $2,528,913,750 and total resources of $3,070,769,823,