15096. Fishkill National Bank (Fishkill, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Start Date
January 13, 1877
Location
Fishkill, New York (41.536, -73.899)

Metadata

Model
gpt-5-mini
Short Digest
71a0e02a

Response Measures

None

Description

The Fishkill National Bank was suspended in mid-January 1877 after discovery of large embezzlement by the cashier Alexander Bartow. A receiver (Henry Bostwick) was appointed by Jan 29, 1877. Newspaper mentions a run on the Fishkill Savings Bank (a separate institution) but the run was not on the National Bank; the National Bank suspension led to receivership and ultimate ruin. Estimated deficiency ranges $60,000–$100,000 in different reports.

Events (2)
1. January 13, 1877 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Discovery of large deficiency/embezzlement by cashier Alexander Bartow (reports $60,000 to possibly $100,000).
Newspaper Excerpt
The Fishkill National bank has suspended. The cashier is a defaulter to the amount of $60,000.
Source
newspapers
2. January 29, 1877 Receivership
Newspaper Excerpt
Henry Bostwick has been appointed receiver of the bank, with bonds fixed at $25,000.
Source
newspapers

Newspaper Articles (7)
1. January 13, 1877 The Cheyenne Daily Leader Cheyenne, WY
Article from The Cheyenne Daily Leader, January 13, 1877

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Article Text

TELEGRAPHIC TICKS. The fire in the Pennsylvania mines is diminishing. Wool is in good demand in the Phila delphia market. At Gloucester, Mase., ten schooners are believed to have been lost in the recent gale. At Ashtabula, yesterday, experts gave the jury full explanations about iron bridges. It wasn't Bennett- who sailed from Philadelphia Thursday. It was another "feller." The Fishkill National bank has suspended. The cashier is a defaulter to the amount of $60,000. There were seven hundred of the most prominent citizens of Maine prosent at the reception given by Mr. and Mrs. Blaine at Augusta, on Friday evening.

2. January 17, 1877 The Sun New York, NY
Article from The Sun, January 17, 1877

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Article Text

The Deficiency in the Fishkill Bank. FISHKILL Jan. 16.-Though the expert has not completed his examination of the accounts of the National Bank in this place. enough 18 known to show that the deficiency will reach over $100,000, possibly $130,000. Some of those who made heavy over drafts were negotiating to-day to pay up. The run on the say. ings bank has drawn out $30,000. The bank, however, is sound.

3. January 19, 1877 Bozeman Avant Courier Bozeman, MT
Article from Bozeman Avant Courier, January 19, 1877

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Article Text

CONDENSED TELEGRAMS. JANUARY 11. Lucill+Westers, the well known actress, died at New York. Two railroad accidents 10-day in which eleven personsawtre injured. The President to day gave to the sisters of John Henderson, the New Orleans whisky convict, his pardon. The President today ander Sharp for paymas'er in the army, with rack of Major. Sharp is the President's brother-in-law, at d for eight years has been United States Marshal of the District of Columbia. JANCAMY 12. The export ot glain from Russia has been forbidden. A fire at Ormo, Wisconsin, destroyed seven buildings containing goods. Loss, $25,000: insurance, $14.000. New York Times' Cincinnati special says: It is reported on good. 82 thority that Governor Williams has declar it his intention of putting the State milita of Indianxa once on All efficient war footing. The Republican Legislature of Louisana had another ballot for L. S Senator, resulting in Pinchback. 29; Antoine, 22, Beattie, 12, L wis. 16. and the remainder scattering. In the House. Delaney. of Rapides, state in x speech that he had been-offered $10.000 to go with the D tno crats. A resolution was introduced and read, declaring vacant the seats of Barrett and Kennedy, who have gone over to the Democrats Eliza Binkston was recalled by the comminee at New Orleans, but 11 e cross +Xamination was connucted with difficuity. Shortpeared her former story. Alex. Barton. Cashier of the Fishkill (N.Y.) National Bank. is charged with is deficiency of from $20 000 to $60.000, and the bank has imporarily suspanded. He claims t 1st he can exp air the matter. The old Methodist Church and it number of business house- were burned at New York to-day. The loss is e-timeted a $40,000. The fire WA- caused by the ex. plosion of a kerosene lamp.

4. January 20, 1877 Puget Sound Dispatch Seattle, WA
Article from Puget Sound Dispatch, January 20, 1877

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morrow and consideration. will ask that YORK; Jan. There fixed NEW for its special 10.-The says: Washington the number House The some talk of increasing constitutional Democrats preroof the gatives committee. afraid of one of to their reare said to it be will beimpossible the right men, that and the House a has State's elechence currence; as the are and toral port power vote without to reject more the Senate's Democrats committee connecessary, stands 4 to 3. in will move Representative Knott more members additionthe House that the committee, upon be added having to been imposed Representsal tive it by labor Willis, the resolution which whether instructs of any the com- votes promittee to inquire contrary to the sechave been given in the first conhibition contained article of the directstitution, tion of the as second also to the ascertain inquiry been whether cast any ed by electoral Kasson, whose votes political have disabiliby persons been removed. special ties had not Washington or The Times' will to-morrow, the says: after, Morton offer a that resolution the States in Car- of Louisiana, Senate soon having declaring Florida voted for and President result South hav- and olina President, and the and declared Vice been determined properly constituted is ng the these States, there in in of the State other Courts, trtbunal nor to Congress, power nor revise in any or change. the reNew sults as YORK, Jan. whatever thus determined. 12.-The Ne publishes NEW Times this morning truth of the BenYork it calls the details having wett-May what duel, from the the very was highest a farce been procured The duel After one shot authority. beginning to end. said he was Being from was fired Bennett the challenging to do so. satisfied. had the right accepted. par ty he The proposition Service was a scratch. and reNeither party hand-shaking Bennett There was no The story that and sailed conciliation. May's sister invention. had via Philadelphia married is a is pure now figuring the Phelps, who with Dr. the courts in connection and will be any event. most in duel, is likely police to surgeon, lose his position in is ORLEANS, Jan. 12 since _There yesfrom no change NEW in the situation are awaiting terday. Both parties Washington before was advices any further action. dead taking This morning a State house, negro and carried out of the died with heart reported to has have transpired however of last disease. that during about It 1 the o'clock, debauch metropolitans a melee ocIt was curred night, were shot, in which and with one two great named difficulty Ancin, The prevented. wounded died. that a stampede man is was still in the State Rushouse. NORFOLK, Va., is Jan expected 12. -The to-mor- arrived sian squadron the flagship has with already the Grand row; Duke at Hampton Alexis Roads and the Admiral Boulajoff. POUGHKEEPSIE, cashier Jan. of 12. the Fishkill Alexan- with der Barton, is charged $60, deficiency is National Bank, of from $20,000 temporarily to the matter, 000, suspended. and the He bank claims that he can explain NEW YORK, Jan. 12. - The Gloucester, Mass. Times has special from The sorrowful news that ten says: come to of hand the to-day fishing fleet doubtless from missing and port that are the crews of them this probably lost, and perished. 11.-Lucille have NEW YORK, Jan. the Pierrepont Western Brooklyn, died at to-night. of con of gestion House, contracted of the lungs, during the recent result encold at Philadelphia. gagements NEW ORLEANS, Jan. 12.--The Re-

5. January 30, 1877 The New York Herald New York, NY
Article from The New York Herald, January 30, 1877

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POUGHKEEPSIE, N. Y., Jan. 29, 1877. A special despatch from Washington to the Eagle says the report to the Comptroller of the Currency shows the Fishkill National Bank deficit to be larger than was at first stated, and that one of the directors of the bank overdrew his account more than $40,000. Henry Bostwick has been appointed receiver of the bank, with bonds fixed at $25,000.

6. February 17, 1877 New-York Tribune New York, NY
Article from New-York Tribune, February 17, 1877

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Article Text

FISHKILL'S DEFAULTING CASHIER BAILED. Alexander Bartow, cashier of the suspended Fiskill National Bank, was brought before United States Commissioner Osborn yesterday, on a warrant sworn out by E. W. Hale of the Assistant Treasurer's office, and H. Bostwick, receiver of the bank, on a charge of falsifying the books of the bank, making false entries of payments, overdrafts, & The transactions in which Bartow is alleged to have been engaged were of an extensive and complicated character, and other persons are said to have been in complicity with bim. As has already been published, the accounts of the Fishkill National Bank and of the Fishkill Savings Bank, both institutions ocoupying the same building, were fraudulently confused by Bartow, and both banks lost heavily. The National Bank, 80 far as has been ascertained, lost by Bartow's operatione about $70,000. The specific charge on which be

7. January 6, 1879 The New York Herald New York, NY
Article from The New York Herald, January 6, 1879

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THE FISHKILL NATIONAL BANK. CASE OF THE CONVICTED CASHER-IMPORTANT EVIDENCE IN THE SUIT OF THE FISHKILL SAVINGS INSTITUTE AGAINST THE BANKBONDS ASSIGNED ON A FORGED CERTIFICATE. POUGHKEEPSIE, Jan. 5, 1879. In October last Alexander Bartow, cashier of the Fishkill National Bank, was convicted of grand larceny in robbing that bank of a one thousand dollar bond and sentenced to five years in the Albany Penitentiary. A stay of proceedings was granted, and a motion for a new trial will be argued at the General Term in February next at Brooklyn. In the meantime Bartow is held a prisoner in the witnesses' room of the jail in this city, where his wife and friends visit him daily, and his food is brought to him from the outside world three times a day. It will be recollected that the National Bank of Fishkill was ruined by embezzlement, the stolen funds amounting to nearly $100,000. Bartow was not only cashier of the National Bank of Fishkill, but also cashier of the Fishkill Savings Institute, and thus handled the funds of both corporations. Nearly $70,000 of the stolen money belonged to the Fishkill Savings Institute; and a year ago that institution sued the National Bank to recover that amount, or rather sued the receiver, Mr. Henry Bostwick. After the evidence of the plaintiff was in defendant moved for a nonsuit on the ground that the National Bank was not made a party the suit. The Court, however, allowed plaintiff to amend the complaint, and then the case was sent before E. A. Brewster, of Newbarg, as referee. Sessions have been held in this city from time to time for nearly a year; over one hundred folios of testimony having been taken. IMPORTANT TESTIMONY. Some of it bore an important part in Bartow's trial, but yesterday evidence was given which startled not only counsel and referee but all who were listening. In substance it came out in the testimony that the savings bank bonds ($65,000 or more) assigned by the president of the savings bank to Wilderming & Co. of New York, were assigned by virtue of a power of attorney, which, on investigation, proved to have no existence on the books of the savings bank A copy of the resolution on which the bonds were assigned was sent from Washington from the Treasury Department, but on inspecting the savings bank books no such resolution was found. This presents a startling and perhaps controlling fact in the case. If the bonds were assigned by the government on a forged certificate, then they were not assigned at all. If, as it looks, the resolution was u forgery, the question as to who perpetrated it becomes a very serious one. Further hearing in the case has been adjourned till the 18th, and in the meantime counsel will go to Washington to further investigate the matter. If u forgery has been committed the bonds are still the property of the saving bank, and the year's time consumed in the present suit will amount to nothing but heavy costs.