Article Text
RECEIVER APPOINTED FOR BANK (Scripps News Association.) WASHINGTON, May 19. - The comptroller of the currency this morning appointed a receiver for the First National bank of Cornwall, N. Y.
15053. First National Bank (Cornwall, NY)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 7344
- Charter Number
- 7344
- Start Date
- May 19, 1905
- Location
- Cornwall, New York (41.443, -74.014)
Metadata
- Model
- gpt-5-mini
- Short Digest
f6aec370
Response Measures
None
Receivership Details
- Depositor recovery rate
- 100.0%
- Date receivership started
- 1905-05-19
- Date receivership terminated
- 1905-10-13
- OCC cause of failure
- Losses
- Share of assets assessed as good
- 41.0%
- Share of assets assessed as doubtful
- 12.4%
- Share of assets assessed as worthless
- 46.6%
Description
Multiple contemporary newspapers report the First National Bank of Cornwall, N.Y., was closed by direction of the Comptroller of the Currency on grounds of insolvency and a national bank examiner was appointed receiver (May 19–20, 1905). No articles describe a depositor run prior to closure.
Events (4)
1.
July 25, 1904
Chartered
- Source
- historical_nic
2.
May 19, 1905
Receivership
- Source
- historical_nic
3.
May 19, 1905
Receivership
- Newspaper Excerpt
- The comptroller of the currency this morning appointed a receiver for the First National Bank of Cornwall, N. Y. / National Bank Examiner Charles E. Van Brocklin has been appointed receiver.
- Source
- newspapers
4.
May 19, 1905
Suspension
- Cause
- Government Action
- Cause Details
- Closed by the Comptroller of the Currency due to insolvency; action taken by federal regulator (appointment of receiver).
- Newspaper Excerpt
- The First National Bank of Cornwall, N. Y., was closed this morning by direction of the Comptroller of the Currency, on the ground of insolvency
- Source
- newspapers
Newspaper Articles (10)
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Article Text
INSOLVENT BANK CLOSED Controller of Currency Places Receiver in Charge in New York. Washington, May 19.-The First National bank of Cornwall, N. Y., was closed today by direction of the comptroller of the currency on the ground of insolvency, and Examiner Van Brocklin has been appointed receiver.
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шолд spondence of the Alexandria Gazette.] Washington, D. C., May 19. missioner of Corporations Garfield he first caller at the President's this morning, He stated that he t as yet finished his report on the ation in Kansas, and that it would me time before it would be ready bmission to the President. The e procured isquite voluminous and eed considerable study before he rive at any definite conclusions. President has decided to appoint Senator Louis E. McComas, of and, to be the successor of Martin rris as judge of the District of bia Court of Appeals, Judge Morving signified his intention of reg. This announcement was made torney General Moody after the et meeting today. Just previous announcement a committee from r of the District of Columbia had on the President to petition him oint a Washington lawyer to the ctive vacancy. First National Bank of Cornwall, all, New York, was closed this ng by direction of the Comptroller Currency, on the ground of insoand National Bank Examiner Chas. n Brooklyn has been appointed reNavy Department has been advishe death this morning at Pensacola geon Hatton N. T. Harris, of the He entered the service in 1887 as appointed from Virginia. or E. Portela, the new Minister to nited States from the Argentine olic presented his credentials to the Department this morning. Senor a was until recently Argentine ter at Madrid, Spain, and his promotton. B su гедавер 8! 19 second and last day of the charter g of the National Association for udy and Prevention of Tuberculosis levoted to sectional meetings at were discussed the bacteriologiathological, elimatological, and l phases of the disease. ary Willard Bean, who was the nt agent of -the New York and idez Asphalt Co., in Venezuela, for months during which time the inoccurred which has formed the for the charge that Mr. Loomis, S. Minister to Venezuela and now ant Secretary of State, received a for $10,000 from the Aspha't Co., nably for services rendered, has xamined by Secretary Taft and has his version of the affair. His tes7 will be laid before the President retary Taft's review of the case. accordance with a recent decision e District Court of Appeals, the Burns faction of the Knights of instituted quo warranto proceed3 the District Court today for the se of making the Hayes faction by what right they are claiming to duly elected officers. adreds of telegraph orperators ghout the country are saddened toer a brief news item from Cini which tells them that "Patsey" "has got 30" and has dropped y !or good. Probably few telers had a wider acquaintance or d more friends than A. S. Ayres. longed to the old migrating school craft, though he was only 50 he died of paralysis yesterday, ) his younger days worked in important city and half the illages in the United States. he became the manager of the ngton bureau of the Publishers' which has grown to be one of ( news gathering-concerns of the In 1900 the strain of office
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National Bank Closed. (By Publishers' Press.) WASHINGTON, May 19.-The First National Bank, of Cornwall, N. Y., was closed this morning by direction of the Comptroller of the Currency, on the ground of insolvency and National Bank Examiner Charles E. Van Brockton has been appointed receiver.
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Receiver Appointed. Washington, May 19.-The comptrollor of the currency this morning ap. pointed a receiver for the First National Bank, of Cornwall, N. Y.
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ATTEMPT MADE TO SAVE BANK. Controller Agreed to Allow It to Remain Open Temporarily. S. C. Jones, the vice-president of the First National Bank of Cornwall, which was closed yesterday, visited the Wilcox offices yesterday and had a long talk with Receiver Conkling before the doors of the Cornwall Bank had been closed. Mr. Jones asked Mr. Conkling not to oppose a motion that was about to be made before Judge Holt, in the United States Court here, for permission to sell a certain amount of collateral held by the Cornwall Bank, at private sale, for a loan to Mr. Wilcox. Mr. Jones, according to the receiver, stated that if this collateral could have been disposed of at the private sale on advantageous terms yesterday, the bank might have been saved, and he said that the Controller of the Currency had agreed to allow the bank to remain open a few hours to see if by this means the resources could be sufficiently strengthened. In Judge Holt's court yesterday afternoon it was said that no appearance was made there to get permission to sell ary collateral in the possession of the Cornwall Bank, and the presumption is that the bank was closed before the arrangements could be made. Receiver Conkling yesterday afternoon received $100 in checks and $54 in bills from the Rouse's Point branch of Wilcox & Co. The receiver has three men out taking possession of the branch banks. He asserts that he will have an expert on Southern securities look over the stocks and bonds found in the safes to see what value they have. Bonds in a drawer in the Wilcox safe worth $150,000 par have been claimed by a man not connected with the concern, who says that they were there only for safe keeping. The receiver will not deliver them without a court order. It is understood in Wall Street that the loans believed to have been made to Wilcox amount to about $11,000.
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Prominent Mason Suicides. Chicago, May 20.-In the office of Gilbert W. Barnard, grand secretary of the grand commandery Knights Templar of Illinois, on the nineteenth floor of the Masonic Temple, Archibald McClellan, prominent in Masonic circles, committed suicide by shooting himself. Despondency due to ill health is supposed to, have been responsible for the deed. Mr. McClellan was seventy-one years of age and was a thirty-third degree Mason. LESS THAN A YEAR OLD. National Bank at Cornwall, N. Y., in Receiver's Hands. Washington, May 20.-The First National bank of Cornwall, N. Y., has been closed by direction of the comptroller of the currency on the ground of insolvency and National Bank Examiner Charles E. Van Brocklin has been appointed receiver. According to a statement given out by the comptroller of the currency the bank was organized in July, 1904, and had never been a successful institution. Albert C. Wilcox of the firm of Wilcox & Co., New York city, was its president. The comptroller ascribes the failure of the bank as having been precipitated by the recent failure of Wilcox & Co.
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Bank Closed. Washington, May 19.-The First National Bank of Cornwall, N. Y., was closed by direction of the comptroller of the currency on the ground of insolvency. National Bank Examiner Charles E. Vanboecklin has been appointed receiver.
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An Insolvent Bank. Washington, May 19.-The First National Bank of Cornwall, N. Y., was closed this morning by direction of the Comptroller of the Currency on the ground of insolvency, and National Bank Examiner Charles E. Vanbrocklin has been appointed receiver.
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Bank Closed. Washington, May 20.-The First National Bank of Cornwall, N. Y., was closed by direction of the comptroller of the currency on the ground of insolvency. National Bank Examiner Charles E. Vanboecklin has been appointed receiver.