Greene County National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 7485
Charter Number: 7485
Start Date: September 26, 1908
Location: Hunter, New York (42.214, -74.219)

Metadata

Model: gpt-5-mini
Short Digest: 75303f22

Response Measures

None

Description

Newspapers report a notice of suspension posted Sept. 26, 1908 and describe the institution as suspending because local residents didn't patronize it. A later Tribune item (Sept. 30) says the bank has merely gone into voluntary liquidation, with the permission of the Controller of the Currency, indicating a voluntary suspension/closure rather than a depositor run. No run is described. Minor OCR/name variants in articles (E. E./E. F. Goodrich; H. M. Sheive) were retained as in the sources.

Events (3)

1. November 23, 1904 Chartered

Source: historical_nic

2. September 18, 1908 Voluntary Liquidation

Source: historical_nic

3. September 26, 1908 Suspension

Cause: Voluntary Liquidation
Cause Details: Owners/promoters chose to suspend operations because local business men and residents did not patronize the bank; later described as voluntary liquidation with Controller's permission.
Newspaper Excerpt: Notice of suspension was posted on the doors of the Greene County National Bank, of Hunter, at noon yesterday.
Source: newspapers

Newspaper Articles (4)

1. September 27, 1908 New-York Tribune New York, NY

Article from New-York Tribune, September 27, 1908

Click image to open full size in new tab

Article Text

GREENE COUNTY BANK CLOSES. Did Not Receive Patronage of Catskill Residents as Expected. [By Telegraph to The Tribune.] Catskill, N. Y., Sept. 26.-Notice of suspension was posted on the doors of the Greene County National Bank, of Hunter, at noon yesterday. The bank was organized by New Yorkers in 1904 with $25,000 capital stock, H. M. Sheiv, of New York, becoming president and E. E. Goodrich, of Hunter, cashier. The Chase National Bank of New York acted as the New York correspondent of the concern, which expected to control the banking business of the interior Catskill Mountain section, comprising the popular summer resorts, Tannersville, Hunter, Haines Falls and the neighboring towns. The support of the residents was not received, and while the bank had deposits of from $75,000 to $100,000. its business was confined mostly to New Yorkers engaged in business or spending the season at Hunter, and the venture was a losing one from the start. The depositors will be paid in full.

2. September 27, 1908 The Sun New York, NY

Article from The Sun, September 27, 1908

Click image to open full size in new tab

Article Text

NATIONAL BANK SUSPENDS. Institution at Hunter, N. Y., Closes Because Business Men Didn't Patronize It. CATSKILL, Sept. 26.-Failure on the part of local business men and residents of Hunter. N. Y., a popular summer resort village in the Catskills, to patronize their home bank, caused the suspension of the Greene County National Bank at Hunter yesterday. The bank was organized in 1904 with a capital stock of $25,000. the greater part of which was held by New Yorkers who had summer homes at Hunter. H. M. Sheive of New York was president and E. F. Goodrich of Hunter cashier. The deposits ranged from $75,000 to $100,000, the greater part of which was in short time accounts deposited by the wealthy summer frequenters of the village. The residents and local business people continued to patronize the larger institutions at Catskill, so that the business of the new institution was confined to the summer months and the promoters found it a losing game, hence their determination to suspend. A large part of the depositors have been paid in full and it is claimed that the institution has funds enough to pay all demands as fast as they are presented. The Chase National Bank of New York acted as the New York eorrespondent of the institution.

3. September 29, 1908 The Barre Daily Times Barre, VT

Article from The Barre Daily Times, September 29, 1908

Click image to open full size in new tab

Article Text

SMALL BANK SUSPENDS. Greene County National at Hunter, N. Y., Chiefly a Summer Institution. Catskill, Sept. 29.-Failure on the part of local business men and residents of Hunter, N Y., a popular summer resort village in the Catskills, to patronize their home bank has caused the suspension of the Greene County National bank at Hunter. The bank was organized in 1904, with a capital stock of $25,000, the greater part of which was held by New Yorkers who had summer homes at Hunter. The deposits ranged from $75,000 to $10,000, the greater part of which was in short time accounts deposited by the wealthy summer frequenters of the village. The residents and local business people continued to patronize the larger institutions at Catskill, 80 that the business of the new institution was confined to the summer monhs and the promoters found it a losing game, hence their determination to suspend. A large part of the depositors have been paid in full, and it is asserted that the institution has funds enough to pay all demands.

4. September 30, 1908 New-York Tribune New York, NY

Article from New-York Tribune, September 30, 1908

Click image to open full size in new tab

Article Text

GREENE COUNTY NATIONAL BANK. H. M. Sheive, president of the Greene County National Bank at Hunter, N. Y., says the statement that the bank has suspended is erroneous. The Greene County National Bank, he says, has merely gone into voluntary liquidation, with the permission of the Controller of the Currency. He also denies the statement that the bank has been a losing venture, and says it has accumulated a surplus of $15,000 In less than four years.