Elmira City Bank - Elmira, NY

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: July 7, 1902
Location: Elmira, New York (42.090, -76.808)

Metadata

Model: gpt-5-mini
Short Digest: 869bd263

Response Measures

None

Description

Article (New-York Tribune, 1902-07-08) lists George McCann as receiver of the Elmira City Bank, indicating the bank was in receivership/closed. No run is mentioned in the excerpt. Classified as suspension leading to closure/receivership.

Events (2)

1. July 7, 1902 Receivership

Newspaper Excerpt: George McCann, receiver of the Elmira City Bank, and William J. Lacey, receiver of the Co-operative Life and Accident Association of New-York City.
Source: newspapers

2. * Other

Newspaper Excerpt: The forty receivers upon whom these notices have been served have charge of insurance, banking and other money corporations. ... The motions of the Attorney General are all returnable, but at different times, before terms of the Supreme Court, to be held in this city.
Source: newspapers

Newspaper Articles (1)

1. July 8, 1902 New-York Tribune New York, NY

Article from New-York Tribune, July 8, 1902

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Article Text

RECEIVERS MUST ANSWER. NOTICES SERVED ON FORTY TO SHOW CAUSE FOR THEIR DELAY. Albany, July 7 (Special).-The fact became known to-day that Attorney General Davies since March last has caused notices of motion to be served on the receivers of some forty corporations whose affairs are undergoing liquidation, requiring them to show cause before the State courts why they should not be called upon to make a final accounting of their receiverships. This action was taken by the At. torney General under authority of an act passed by the legislature of this year. 'Near the close of the year 1901 the Attorney General, in his annual report, referred to the long continuance of some receiverships, and suggested that measures be taken to shorten them, with the aim of diminishing their cost. Governor Odell, in his annual message to the legislature, said that "a serious drawback to the administration of the State's laws was that affecting the insolvency of public or quasi-public institutions." He added: Many instances can be cited where If the assets of such corporations had been promptly administered at the lowest possible expenditure they would have been sufficient to have repaid in full the creditors and stockholders. A little later in his message the Governor said: As an illustration of the abuses arising under the present system of receiverships, it may be stated that the total expenses involved in the liquidation of the affairs of seventy corporations during the past ten years have been $1,666,223.84 The legislature passed a law giving the Attorney General a larger amount of control of the receivers. It is under this law that he has caused notices of motion to be served on the receivers of the forty corporations referred to. The forty receivers upon whom these notices have been served have charge of insurance, banking and other money corporations. In every case where notice has been served the receivership has existed for over a year. Among the receivers of large corporations upon whom these notices have been served are the following: Daniel B. Sickles, receiver of the Harlem River Bank of New-York City: Antoine Resiner, re. ceiver of the Canal Bank of New-York; Orlando F. Thomas, receiver of the Wayne Building and Loan Association of New-York City: John M. Bowers, receiver of the Mercantile Credit and Guarantee Company of New-York: Edward C. Dickinson, ancillary receiver of the Granite State Provident Association of New-Hampshire; Francis V. S. Oliver, receiver of the Family Fund Society of New-York City: George McCann, receiver of the Elmira City Bank, and William J. Lacey, receiver of the Co-operative Life and Accident Association of New-York City. The motions of the Attorney General are all returnable, but at different times, before terms of the Supreme Court, to be held in this city.