15103. State Bank (Fort Edward, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
September 10, 1884
Location
Fort Edward, New York (43.267, -73.585)

Metadata

Model
gpt-5-mini
Short Digest
0c6942f8

Response Measures

None

Description

The State Bank at Fort Edward voluntarily closed/suspended on or about Sept 10, 1884 pending a state banking department examination; later (by Jan 7, 1885) it was reported placed in the hands of receivers. No run is described in the articles.

Events (2)
1. September 10, 1884 Suspension
Cause
Government Action
Cause Details
Closed voluntarily as a precaution pending a State Banking Department examination; directors anticipated examiner would order closing amid general depression.
Newspaper Excerpt
In consequence of the examination of the bank department the doors will remain closed pending such examination.
Source
newspapers
2. January 7, 1885 Receivership
Newspaper Excerpt
the State Bank (Fort Edward)-were placed in the hands of receivers.
Source
newspapers

Newspaper Articles (11)
1. September 11, 1884 New-York Tribune New York, NY
Article from New-York Tribune, September 11, 1884

Click image to open full size in new tab

Article Text

CLOSING A BANK'S DOORS. SUSPENSION OF THE STATE BANK AT FORT EDWARD OWING TO THE GENERAL DEPRESSION. |BY TELEGRAPH TO THE TRIBUNE.I TROY, Sept. 10.-Great excitement was occasione at Fort Edward yesterday af ernoon by the appearance of tue following notice on the door of the State Bank: In consequence of the examination of the bank department the doors will remain closed pending such examination. All FORTH of rumors are afloat regarding the suspension, but the State Examiner is expected soon, when the facts will be made known. On September 1 Deputy Superintendent Van Vranken. of the Banking Department, went to Fort Edward and made a partial examination of the affair of the bank. He did not complete the examination and left the same day. The bank opened as usual in the morning, and the sudden closing after a hasty meeting of the directors is one cause for so much comment. Several lady school teachers have all their savMigs deposited in the bank. the four per cent interest attracting de, ositors. Cashier Clements says : "The closing was voluntary and without notice from the Bank Depart ment. The books are not posted up to date owing to 10 : he enforced absence of N. E. Coo the tell A member of bis fam ly is ill. The capital stock 18 $50,000. We anticipate that all the depositors W 11 be paid in full. There is nothing to indicate that the dep sitors will lose a dollar, or that the stockholders will lose more than a trifle, If anything. We expect the bank may r sume. The deposits aggregate $60,000. President Un ierwood and Cashier Clements own $34.000 01 the $50,000 capital stock. Both ar men of means and responsibility. The general de, pression in banking business has had something to do with the closing of the bank. It 14 a precautionary measure for the protection of the depositors and stock olders." I he bank was incoporated in 1871. The president is David Underwood, of the firm of Bailey & Underwood, lumber dealers, Fort Edward. The cashier. Geo ge Clements, owns real estate and his sons, A. M. and C. M. Clements, carry on stores at Fort Edward and at Sandy Hill.

2. September 11, 1884 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, September 11, 1884

Click image to open full size in new tab

Article Text

TELEGRAPHIC BREVITIES. Two conviets were brutally beaten and killed by guards at the water-works reservoir. Lexington, yesterday. Jacob Stein, postmaster at Reno, Iowa, shot his wife dead on Tuesday night, and then committed suicide. He is supposed to have been insane. The Mt. Lake Park Hotel, at Mt. Lake Park, Md., kept by H. H. VanMeter, was entered by burglars last night, and $3,000 in cash and valuable papers stolen. The officers of the State Bank, at Fort Edwards, N. Y., state that the closing, on yesterday afternoon, was a precautionary matter. Nobody will lose anything. A private telegram announces the killing of J. O. Christian, at Chipley, Ga., in a difficulty with S. M. Dixson, railroad agent at Chipley. Christian was a prominent citizen and merchant at White Sulphur Springs. At Wabasha, Minn., yesterday, Lucas Kuehn, the largest merchant in town, assigned. He is president of the Wabasha Bank, on which a run recently occurred. There is no statement of liabilities or assets. Kuchn is rated at $50,000. A petition from railroad authorities has been received at the Treasury Department asking that the quarantine on the Mexican border be raised. It is not probable the request will be granted during the prevalence of yellow fever in western Mexico. At the quarterly meeting of the Western Union Telegraph Company, yesterday, George J. Gould was elected vice-president in place of Augustus Schell, deceased; Sam Slean was elected a member of the executive committee in the place of Schell The body of Mrs. Mary Armstrong, who lived at 284 Tenth avenue, New York, was found, last evening, with her neck broken and otherwise bruised, in a space less than two feet wide, between the rear ot a house on Tenth avenue and one on Twenty-sixth street. John Arms trong, her husband, was arrested in bed, which was covered with blood. Yesterday afternoon, at Cleveland, Mrs. C.E. Akers, a music teacher, drew $90 from a savings. bank opposite the postoffice, and started home through a short street leading from Monumental Park to St. Clair street. Shortly after leaving the bank, an unknown ruffian knocked her down by a violent blow in the back, grabbed the money, and escaped. Several ereditors of Kaufman, Cohn & Co., of St. Louis, wholesale milliners, who assigned some time ago, have filed a bill of complaint in the Circuit Court, charging irregular and fraudulent transactions on the part of the firm, and asking that the assignment be setaside, and that the several attachments sued out against the firm just before it assigned be dissolved. Albert Jones, an ex-convict. has instituted suit against the Milner Coal & Railroad Company, lessee of Alabama State convicts, for $15,000, for personal injuries resulting from negligence of lessee. Plaintiff alleges that his ankle was crushed by coal cars, and he was kept at work, inflammation resulting, necessitating amputation. This is the first case of the kind brought in that State. A number of cotton-seed crushers from the South have been in secret session at St. Louis for two days past, but nothing definite regarding their proceedings can be ascertained. It is understood. however, that the cotton-seed oil interest is suffering from over-production, and that one of the purposes, at least, of the conference is to form a pool for protection and regulation of the trade. Captain J. H. Sawyer, cashier of the Carolina National Bank, at Columbia, in exchange for a check of $50, presented by Mr. Simon Hook, gave him a bag supposed to contain $50 in silver. Later, when he discovered that he had given a bag containing $1,000 in gold, there was much excitement in the bank, which was allayed by the return of Mr. Hook, who had also discovered the error, and returned the money.

3. September 12, 1884 The Rock Island Argus Rock Island, IL
Article from The Rock Island Argus, September 12, 1884

Click image to open full size in new tab

Article Text

Another Fallen Bank. TROY, N. Y., Sept. 12. - The state bank at Fort Edward, Washington county, closed down Wednesday afternoon. On Sept 1 Deputy-Superintendent Van Vranken, of the banking department went to Fort Edward and made a partial examination of the affairs of the bank. He did not complete the examination and left the same day. The bank officers declare that Van Vranken made no suggestion about closing the bank. It is reported, however, that the directors, knowing that the examination when completed would result in the bank department ordering the institution closed, decided to suspend voluntarily. "There is nothing to indicate that the depositors will lose a dollar," says the cashier. "We expect the bank will resume." President Underwood and the cashier own $34,000 of the $50,000 capital stock, but are men of means and responsibility. It is thought the deposits will aggregate $100,000. The bank has been giving 4 per cent. interest, and has therefrom obtained quite a large amount in special deposits.

4. September 17, 1884 The Wellington Enterprise Wellington, OH
Article from The Wellington Enterprise, September 17, 1884

Click image to open full size in new tab

Article Text

THE EAST. OFFICIALS of the New Brunswick (N. J.) Bank publicly announced on the 10th that its capital was intact, and every creditor would be paid in full. THE daughters of Jay Gould's private Secretary, Miss Morosini, who eloped with her father's coachman, Ernst Schelling, was married to him in New York on the 10th. It had been discovered that Schelling is a reduced German nobleman, and that his proper name is John Ernest Huelskamp. CONGRESSMEN were nominated as follows on the 10th by the Republicans: New Jersey, Second District, James Buchanan; Sixth, Herman Sehlbach. Massachusetts, Sixth District, Henry Cabot Lodge; Seventh, E. F. Stone (renominated); Eighth, C.H. Allen; Tenth, William W. Rice (renominated). Connecticut, First District, John P. Bock. New Hampshire, First District, Martin A. Haynes (renominated.) New York, Twenty-seventh District, Sereno E. Payne (renominated). THE Connecticut Greenbackers met in State Convention at Meriden on the 10th and nominated James L. Curtis for Gov. ernor. NEW HAMPSHIRE Prohibitionists held a State Convention at Concord on the 10th and indorsed the nomination of St. John and Daniel. Larkin D. Mason was nominated for Governor. THE doors of the State Bank at Fort Edward, N.Y., was closed on the 10th. The officers said the depositors would be paid in full as soon as the accounts were examined and adjusted. THE hottest weather of the season in the Atlantic Stateshwas experienced on the 10th. There were fifteen deaths from sun-stroke at New York and seven at Philadelphia. In New York 490 horses died from the heat and over 2,000 others were prostrated. FIVE HUNDRED Mormon proselytes bound for Utah arrived in New York a few days ago by steamer. THE Massachusetts Prohibitionists met in Boston on the 10th and nominated President Seelye, of Amherst College, for Governor, and Henry Faxon for LieutenantGovernor. NEW HAMPSHIRE Democrats met at Concord on the 10th and nominated John M. Hill for Governor. DISPATCHES of the 10th from Maine state that Governor Robie's plurality would be over 19,000. The Republicans carried every county in the State. IN Cragin's japan works in Brooklyn, Y., a kettle of varnish exploded a few days ago, by which one man was burned to a crisp and four others received fatal injuries. ANDREW D. WHITE, of Ithaca, N. Y., President of Cornell University, has been elected President of the American Historical Association. THE Democrats of the First New Hamp shire District have nominated L.F. Mo Kinsy for Congressman. MAINE advices of the 11th state that at the recent election Governor Robie, the Republican candidate, received a majority over Redman of 20,615. CORONERS of New York City on the 11th reported twenty-five sudden deaths caused by the excessive heat. A THUNDER-STORM did great damage on the 11th in Massachusetts towns, particularly at Malden, where a number of trees were prostrated and windows blown in. Lightning struck in many places, damaging houses and shocking the inmates. A JUDGE at Philadelphia ruled recently that the occupant of a house mayicut telegraph or telephone wires if stretched over his roof without his permission. THE firm of Burger, Hurlbut & Livingston, sugar refiners at New York, made an assignment recently, giving preferences for $114,500. THE Savings Bank at St. Petersburg, Pa., which suspended in July, resumed business on the 11th, with the old officials in charge. A SURPLUS of $48,000 was reported by the examiner of the New Brunswick (N. J.) Bank on the 12th, after deducting the $220,000 deficit of the cashier and President. IT was reported on the 12th by Bradstreet that there was a general improvement in the condition of trade, arising from the demand for autumn goods. were renewed the coal operators on 12th HOSTILITIES in Pennsylvania by the against the miners by arresting one of the

5. September 18, 1884 The Sun Morris, MN
Article from The Sun, September 18, 1884

Click image to open full size in new tab

Article Text

Failures of a Week. There were 180 failures in the United States reported to Bradstreet during the week, ending 13th against 178 in the preceding week and 136, 137 and 88 in the corresponding weeks of 1883, 1882 and 1881, respectively. About 83 per cent. were those of small dealers, whose capital was less than $5,000. Among the suspensions reported were: Burger, Hulburt & Livingston, molasses and syrups, New York city; National bank of New Jersey, at New Brunswick; State bank of Fort Edward, N. Y. ; Lincoln Savings bank of Fayetteville, Tenn. ; Ray County Savings bank of Richmond, Mo.; Green Manufacturing company, print cloths, Providence: Payne, Villey & Co., cotton factors, Louisville, Ky.; Rust, Harris & Co., wholesale hardware, and F. J. Burton & Co., wholesale cigars and notions, of Denver; Stafford & Co., manufacturers of cotton yarns, at Brownsville, Mass.

6. September 18, 1884 The Iowa Plain Dealer Cresco, New Oregon, IA
Article from The Iowa Plain Dealer, September 18, 1884

Click image to open full size in new tab

Article Text

NEWS CONDENSED. Concise Record of the Week. EASTERN. Miss Smulzey, of Fort Plain, N. Y., has fasted 180 days, and still refuses to partake of food. A physician avers that she has practiced no deception. Forty thousand people attended the funeral of the Into Secretary Folger, at Geneva, N. Y. President Arthur, Gov. Cleveland, Secretaries Teller, Frelinghuysen, and Chandler, and Postmaster General Gresham were present. The ceremonies were very impressive. The authorities of Philadelphia have notified the telegraph and telephone companies that all wires must be placed underground by the end of the year. Miss Victoria Morosini, daughter of Jay Gould's financial adviser and broker, fled from Yonkers with Ernest Schelling, a young coachman, whom her father had discharged. A kettle of varnish exploded in Cragin's japan-works, in Brooklyn, by which one man was burned to a crisp and four others received fatal injuries. Ernest Schilling, the coachman, who eloped with the daughter of Jay Gould's private secretary, is now found to be an impecunious German nobleman. The State Bank at Fort Edward, N. Y., has closed its doors. The officers say that depositors will be paid in full as soon as the accounts are examined and adjusted. There were between twenty-five and thirty deaths from sunstroke in New York City on the 11th inst. A Philadelphia Judge has ruled that the occupant of a house may cut telegraph or telephone wires if stretched over his roof without his permission. Persons interested in building a railway between New York and Boston, and making the traveling time between both cities three hours, held a meeting at Boston. It was stated that a double-track road could be built for $23,000,000. Stafford & Co., of Providence, yarn manufacturers, running mills in Rhode Island and Massachusetts, have made an assignment, with liabilities of $400,000.

7. September 18, 1884 The True Northerner Paw Paw, MI
Article from The True Northerner, September 18, 1884

Click image to open full size in new tab

Article Text

NEWS CONDENSED. Concise Record of the Week. EASTERN. Miss Smulzey, of Fort Plain, N. Y., has fasted 180 days, and still refuses to partake of food. A physician avers that she has practiced no deception. Forty thousand people attended the funeral of the late Secretary Folger, at Geneva, N. Y. President Arthur, Gov. Cleveland, Secretaries Teller, Frelinghuysen, and Chandler, and Postmaster General Gresham were present. The ceremonies were very impressive. The authorities of Philadelphia have notified the telegraph and telephone companies that all wires must be placed underground by the end of the year. Miss Victoria Morosini, daughter of Jay Gould's financial adviser and broker, fled from Yonkers with Ernest Schelling, a young coachman, whom her father had discharged. A kettle of varnish exploded in Cragin's japan-works, in Brooklyn, by which one man was burned to a crisp and four others received fatal injuries. Ernest Schilling, the coachman, who eloped with the daughter of Jay Gould's private secretary, is now found to be an impecunious German nobleman. The State Bank at Fort Edward, N. Y., has closed its doors. The officers say that depositors will be paid in full as soon as the accounts are examined and adjusted. There were between twenty-five and thirty deaths from sunstroke in New York City on the 11th inst. A Philadelphia Judge has ruled that the occupant of a house may cut telegraph or telephone wires if stretched over his roof without his permission. Persons interested in building a railway between New York and Boston, and making the traveling time between both cities three hours, held a meeting at Boston. It was stated that a double-track road could be built for $25,000,000. Stafford & Co., of Providence, yarn manufacturers, running mills in Rhode Island and Massachusetts, have made an assignment, with liabilities of $400,000.

8. September 19, 1884 The Kenosha Telegraph Kenosha, WI
Article from The Kenosha Telegraph, September 19, 1884

Click image to open full size in new tab

Article Text

Acting Secretary of the Treasury for ten days. THE EAST. THE doors of the State Bank at Fort Ed ward Y., was closed on the 10th. The officers said the depositors would be paid in full as soon as the accounts were examined and adjusted. THE Massachusetts Prohibitionists met in Boston on the 10th and nominated Pres. ident Seekye, of Amherst College, for Gov ernor, and Henry Faxon for LieutenantGovernor. NEW HAMPSHIRE Democrats met at Concord on the 10th and nominated John M. Hill for Governor. DISPATCHES of the 10th from Maine state that Governor Robie's plurality would be over 19,000. The Republicans carried every county in the State. IN Cragin's japan works in Brooklyn N. Y., a kettle of varnish exploded a few days ago, by which one man was burned to a crisp and four others received fatal injuries. ANDREW D. WHITE, of Ithaca, N. Y. President of Cornell University, has been elected President of the American Histor ical Association. THE Democrats of the First New Hamp shire District have nominated L. F. Mc Kinsy for Congressman. MAINE advices of the 11th state that a the recent election Governor Robie, the Republican candidate, received a majority over Redman of 20,615. CORCNERS of New York City on the 11tl reported twenty-five sudden deaths caused by the excessive heat. A THUNDER-STORM did great damage or the 11th in Massachusetts towns, particu Marly at Malden, where a number of trees were prostrated and windows blown in Lightning struck in many places, damag ing houses and shocking the inmates. A JUDGE at Philadelphia ruled recently that the occupant of a house may cut tele graph or telephone wires if stretched over his roof without his permission. THE firm of Burger, Hurlbut & Living ston, sugar refiners at New York, made ai assignment recently, giving preference for $114,500. THE Savings Bank at St. Petersburg Pa., which suspended in July, resumed business on the 11th, with the old officials in charge. A SURPLUS of $48,000 was reported by the examiner of the New Brunswick (N J.) Bank on the 12th, after deducting the $220,000 deficit of the cashier and Presi dent. IT was reported on the 12th by Brad street that there was a general improve ment in the condition of trade, arising from the demand for autumn goods. HOSTILITIES were renewed by the coa operators in Pennsylvania on the 12t against the miners by arresting one of th strikers, causing excitement in the camps If the prosecutions were continued an up rising was expected to follow. WHILE drunk on the 12th at Boonton, N J., William M. Messer shot his wife and daughter and then killed himself. Th young woman was fatally wounded, bu her mother would probably recover. THE specie imports at New York sinc January 1 amounted on the 13th to $13, 703, 913, against $10,982,755 for the same period in 1883. THE firm of Stafford & Co., of Provi dence, yarn manufacturers, running mill in Rhode Island and Massachusetts, mad an assignment a few days ago, with liabil ities of $400,000. A TELEGRAM from Mount Washingto on the 14th announced a heavy fall o snow and a temperature of twenty de grees. THOMAS M. TERRELL has been renomin ated for Congressman by the Republican of the First New Jersey District. THE death of Robert Hoe, known on bot sides of the Atlantic for the developmen of the printing-press, occurred in Tarry town, N.Y., on the 13th. A DESPERADO of the oil regions, name Thomas McKeon, walked into a bank a Eldred, Pa., the other afternoon, kept th cashier and teller quiet by means of cocke revolver and walked out with $2,500 in currency. ON the 15th L. P. Herbert, cashier of bank at Hyacinthe, near Montreal, fled t New York with $50,000, and was being pur sued by detectives. IN Massachusetts, New Hampshire Maine and Nova Scotia severe frosts 00 curred the other night, greatly damaging late crops. A FEW days ago the chooner Alice M Willia is arrived at Gloucester, Mass. from an experimental fishing trip to Ice land. She reports good weather, an brings a full share of fletched halibut. IT is announced by the Garfield Monu ment Committee for New York that th total amount collected in the State amount ed to $9,629.32.

9. September 19, 1884 Little Falls Transcript Little Falls, MN
Article from Little Falls Transcript, September 19, 1884

Click image to open full size in new tab

Article Text

Failures of a Week. There were 180 failures in the United States reported to Bradstreet during the week, ending 13th against 178 in the preceding week aird 136, 137 and 88 in the corresponding weeks of 1883, 1882 and 1881, respectively. About 83 per cent. were those of small dealers, whose capital was less than $5,000. Among the suspensions reported were: Burger, Hulburt & Livingston, molasses and syrups, New York city; National bank of New Jersey, at New Brunswick; State bank of Fort Edward, N. Y. Lincoln Savings bank of Fayetteville, Tenn. Ray County Savings bank of Richmond, Mo. Green Manufacturing company. print cloths, Providence: Payne, Villey & Co., cotton factors Louisville, Ky. Rust, Harris & Co., wholesale hardware, and F.J. Burton & Co., wholesale cigars and notions, of Denver; Stafford & Co., manufacturers of cotton yarns, at Brownsville Mass.

10. September 19, 1884 The Middlebury Register and Addison County Journal Middlebury, VT
Article from The Middlebury Register and Addison County Journal, September 19, 1884

Click image to open full size in new tab

Article Text

NEWS SUMMARY. Eastern and Middle States. MAHLON RUNYON, the self-slain president of the New Brunswick National bank, left a note declaring that he had not robbed the institution. FURTHER figures put the Republican plu rality in Maine at about 17,000. The State senate will stand thirty-one Republicans and no Democrats. The house will have 117 Republicans and thirty-four Democrats, a Republican gain of seven. THERE was an immense attendance at the late Secretary Folger's funeral in Geneva, N Y. President Arthur, Governor Cleveland and staff, members of the cabinet and other prominent government officials and distinguished friends of the deceased were present. MUCH suffering has been caused in New York by the torrid heat, and numerous cases of sunstroke and prostration occurred, many of them resulting in death. Two more tragedies nearly resulted from the double suicide of President Runyon and Cashier Hill, of the New Brunswick (N. J.) National bank. A daughter of the former attempted to throw herself down a well, and the wife of the latter tried to shoot herself with a pistol; but both were frustrated by relatives in their attempt to kill themselves. ANOTHER banking institution has gone to the wall, the State bank at Fort Edward, N. Y., closing its doors. The cashier stated depositors would be paid in full. THE New Hampshire Prohibitionists have nominated Larkin D. Mason for governor, together with an electoral ticket. THE Massachusetts Prohibition State convention at Boston put a full ticket in the field, headed by President Julius H. Seelye, of Amherst college, for governor. NEW HAMPSHIRE Democrats, at their State convention in Concord, placed John M. Hill for governor at the head of their ticket, nominated presidential electors and endorsed Cleveland and Hendricks. AT the Connecticut Greenback State convention in Meriden, James L. Curtis was nominated for governor, together with a full ticket and presidential electors who are pledged for Butler. SITTING BULL, the renowned Indian chief, accompanied by his niece and eight of the principal chiefs of the Sioux Indians located at the Standing Rock agency in Dakota, arrived in New York a few days since. They have been brought East for purposes of education and exhibition, and after a tour through the Atlantic States will go to Europe. A DISPATCH from Augusta, Me., says that the total vote of the State reaches 142,410, and that the majority of Robie for governor over Redman is 20,615. J. H. BARRY, a promising young Philadelphian, accidentally hung himself while trying to illustrate the method by which "Bill Sykes," the villain of Dickens' "Oliver Twist" became his own executioner in attempting to escape from the police. DISSATISFIED with the action of the National Democratic convention, the Tammany Hall wing of the New York Democrats has hitherto remained passive in the political conflict; but at a meeting of the Tammany general committee in New York, a few evenings ago, it was resolved, by 810 yeas to 87 nays, to support Cleveland and Hendricks. WILLIAM W. MESSER, 74 years old, a wealthy resident of Boonton, N. J., while at breakfast table. suddenly seized a revolver and shot his daughter Mary, 20 years old: then he shot his wife, and wound up the dreadful series of tragedies by killing himself. The two women were fatally wounded.

11. January 7, 1885 New-York Tribune New York, NY
Article from New-York Tribune, January 7, 1885

Click image to open full size in new tab

Article Text

capital from $19,353,200 to $22,150,700, the deposits from $52,259,589 to $109,560,534, the loans and dis counts from $51,174,579 to $88,515,326, the profits and surplus from $7,236,465 to $11,792,902 and the total resources from $86,693,182 to $157,446,275. During the year ten banks, with an aggregate capital of $1,235,000, were granted certificates; of these, two-the Mechanics and Traders' and the Wall Street banks of New-York City-changed from the National to the State system. One bank, the Bank of Clayton, went into voluntary liquidation, paying its depositors in full. and four banks --the Manufacturers' (Amsterdam), Atlantic (Brooklyn), Wall Street (New-York) and the State Bank (Fort Edward)-were placed in the hands of receivers. With one exception it is thought that these banks will pay their depositors in full, and return a large percentage to the stockholders. CONDITION OF TRUST, LOAN AND MORTGAGE COMPANIES. The following summary of the condition of the twenty trust, loan and mortgage companies is given in the report: 1983 July 1. 1884.