Orleans County National Bank (Albion, NY)

View Charter #1509 on SPMC View balance sheet

Episode Information

Episode UID
150901023
Episode Type
Run Only
Bank Type
national
Bank ID
15090 national
Charter Number
1509
Start Date
March 5, 1885
Location
Albion, New York

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
068ddcc956c910c2

Response Measures

Books examined

Events (3)
1. August 9, 1865 Chartered
Source
historical_nic
2. March 5, 1885 Run
Cause
Rumor Or Misinformation
Cause Details
News of the paying-teller's suicide prompted a brief wave of withdrawals and nervousness.
Newspaper Excerpt
A slight run on the bank followed the news of the suicide, but all uneasiness is now allayed.
Source
newspapers
3. October 2, 1920 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (2)
1. March 7, 1885 Evening Star Washington, DC
Article from Evening Star, March 7, 1885

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Article Text

Suicide of a Bank Teller. SHOOTING HIMSELF BECAUSE, AS HE SAID, "NO MAN COULD DO BUSINESS AND DO RIGHT." A telegram from Albion, N. Y., March 5, says: Charles A. King, paying teller and acting cashier of the Orleans County National bank, committed suicide to-day. King had been connected with this bank since boyhood, and practically had the control of the institution, which, since the suspension of the First National bank, has absorbed all the destrable business of this county. Mr. King left the bank a few minutes past 10 this morning and went to the office of Dr. W. C. Bailey, his family physician. After a few minutes' conversation, the doctor, summoned by another patient, left King in his private office nervously pacing the floor. Soon afterward the doctor was startled by the sound of a pistol shot, and hastening to his inner room was shocked to see King, with a smoking revolver in his hand, slowly staggering back to a couch, upon which he fell apparently dead. Dr. Bailey hastened to the bank and returned with President Cornell and Cashier Hart. King had then regained consciousness. On being questioned as to the motive, he gasped: "Nothing the matter with the bank," and repeated what he had said to the doctor on entering. I'm tired of life, and have lived long enough." King was taken to the house of his father, where he lies in a semi-conscious condition. The physicians pronounce the case a hopeless one. The bullet passed entirely through the brain. from the temple to the base of the skull. A probe has been introduced repeatedly without finding the ball. The surgeons say that for a man to live with such a wound is remarkable, and meets with few parallels in medical annals. The impulse which led to King's self-destruction was a morbid sense of the obligation which, as a Christain, he owed to his fellow-men. He was wont to say, "No man can do business and do right." His accounts have been examined and all found to be correct. That no other motive than that above stated influenced him is positively known. King will leave an invalid wife and two children. A slight run on the bank followed the news of the suicide, but all uneasiness is now allayed.

2. March 12, 1908 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, March 12, 1908

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Article Text

FINANCIAL BILL HOTLY DENOUNCED Senator Clarke of Arkansas Hits Several Fierce Blows ALDRICH ATTEMPTS REPLY Investigation of Causes of the Panic Is Demanded by Senator Clarke, Who Also Denounces New York Stock Exchange. Washington, March 11.-Senator Clarke of Arkansas denounced the pending currency bill in a speech in the Senate today, declaring that no currency legislation should be enacted until an investigation is held as to the causes of the panic. "No such legislation is necessary now, said Mr. Clarke. "It is not only not necesI sary, but it may become dangerous. am not disposed to tolerate the idea of giving any support to the committee bill, nor the substitute proposed by the minority members of the Senate." If emergency currency is to be provided, Mr. Clarke said, the benefits should be extended all persons whose legitimate business demands cause them to need it. Mr. Clarke denounced the operations of stock exchanges and said the American people would not be satisfied with the proposed currency legislation without a complete knowledge of causes of the panic. "The time has arrived," he said, "when the affairs of the New .York stock exchange and other stock exchanges must be looked into." Mr. Clarke's reference to the stoppage of the payments by the New York banks called Mr. Aldrich to his feet with the remark that he did not believe the people would permit that course again to be pursued. "I trust the senator from Rhode Island as a historian," retorted Mr. Clarke, "but I do not trust him as a prophet." Mr. Clarke expressed the opinion that the majority would not pass the bill allowing the emergency circulation to be retired without limitation. Mr. Clarke said he would not only require a restriction of reserves, but he would deny to a national bank the right to pay interest on checking accounts. Senator Nelson suggested that the national banks should pay interest on the $250,000,000 of government deposits. Mr. Aldrich said that five years ago he had introduced a bill providing for the payment of interest on such deposits at the rate of 1 1/2 per cent, but, he added, senators had opposed that bill on the ground that it changed the nature of the loan. Former Senator Spooner and the late Senator Morgan, he said, opposed the bill. If that objection could be overcome he declared his willingness to again bring in such a measure. He did not know any reason unless it should be a legal one, of the kind suggested, why interest should not be charged on these deposits. Mr. Culberson, he said, had introduced a bill to require payment of interest on government deposits and it was now before the committee on finance. Mr. Bailey spoke at some length suggesting that the main purpose of his substitute was to favor the principle of government money instead of bank money He explained that he had provided for a distribution of the emergency currency in accordance with population, although he realized that business necessity was a greater measure of the amount they should have. But it was not possible to make sure of the business needs of the several sections and it was a simple matter to ascertain the population. An extended argument was made by Mr. Newlands of Nevada in favor of his view that the sending of a check from one state to another makes the business of banking interstate commerce.