15185. Bank of Lansingburg (Lansingburg, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 19, 1877
Location
Lansingburg, New York (42.785, -73.670)

Metadata

Model
gpt-5-mini
Short Digest
c111fca9

Response Measures

None

Description

Multiple contemporaneous newspaper dispatches (dated March 19, 1877) state the Bank of Lansingburg posted a suspension notice, applied for a receiver, and A. D. Powers was appointed receiver. Causes cited are depreciation of assets and speculation in New Jersey Central and other railroad stocks (bank-specific adverse conduct). No explicit run (mass withdrawals) is described in the articles; the bank was placed in receivership, implying permanent closure.

Events (2)

1. March 19, 1877 Receivership
Newspaper Excerpt
A. D. Powers has been appointed receiver of the Bank of Lansingburg. Liabilities $875,000; nominal assets $1,150,000.
Source
newspapers
2. March 19, 1877 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suspension attributed to depreciation of assets and speculation in New Jersey Central and other railroad stocks by the bank/management.
Newspaper Excerpt
a notice on the door of the Bank of Lansingburg this morning announces the suspension of that institution, caused by the depreciation of assets.
Source
newspapers

Newspaper Articles (12)

Article from Public Ledger, March 19, 1877

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Article Text

Bank Sux pension. NEW YORK, March 19.-A Lansingburg, New York, dispatch says that a notice on the door of the Bank of Lansingburg this morning announces the suspension of that institution, caused by the depreciation of assets. Application has been made for the appointment of a receiver. The loss, if any, to depositors will be trifling.


Article from The Rock Island Argus, March 19, 1877

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Another Busted Bank. NEW YORK. March 19.-A Lansingburg despatch says a notice on the doors of the bank of Lansingburg this worning announces the suspension of that institution, caused by depreciation of its assets. Ap plication has been made for the appointment of a receiver. The loss, if any, to depositors, will be trifling. TROY, March 19.-A. D. Powers has been appointed receiver of the bank of Lansingburg. Liabilities $875,000. nominal assets $1,150,000. The suspension it is thought was caused by speculation in New Jersey Central. There is great exeitement in Lansingburg.


Article from The Portland Daily Press, March 20, 1877

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Article Text

News and Other Items. Miss Fanny Hessler seized and held a burglar in her house in New York, Sunday night, till the police arrived. It is stated that the hotel keepers of Long Branch have offered a cottage to President Hayes for the season. Samuel Cary Ball, late cashier of the Hatboro National Bank, in Pennsylvania, has been sentenced to ten years in prison for embezzlement. The Bank of Lansingburg, New York, has gone into the hands of a receiver. It is supposed that the managers have been speculating in New Jersey Central. The New York Sun prints the affidavit of Engineer Colein, of the treasury department, accusing Assisiant Secretary Conant of infamous immoralities. The recent inventory of the Erie railway fills twenty large volumes, and cost $100,000 in its completion. It is so minute in all particulars as to give the number of spikes in the 1800 miles of track, which is 21,600,000. There are 250 locomotives on the road and 70 different kinds of iron in the t ack. It is related of Secretary Thompson, of the Navy Department, that, finding that his study of the Catholic question, upon which he has recently published a book, was impeded by his ignorance of Greek, Latin, French and German he acquired a sufficient mastery of these four languages, after he had reached the age of 60, to enable him to make his own translations. The success of Prof. Belt's experiments with the telephone leads the Spectator to express the hope that the curious Yankee instrument can not easily be set at work without the consent of the victim. Its uneasiness is betrayed by the remark: "Fancy suddenly having your ears opened to the silly babble of this muddle-headed and very chattering world!" While the Rev. Henry Ward Beecher was lecturing in Minneapolis the other evening, a very large and self-possessed gray cat was seen walking deliberately down one of the aisles of the church toward the rostrum. She ascended the steps of the platform, walked up to the lecturer, and very familiarly rubbed herself against his legs, to the great amusement of the audience. Mr. Beecher simply stopped, looked down, and laughingly remarked, "Well, now I am beginning to feel at home." A curious incident happened at the last meeting of the Kbedival Geographical Society of Egypt. M. De Lesseps was explaining the scheme for inundating the Algerian Sahara, and desired to point out something on the map, when the President, Gen. Stone, gallantly drew his sword and presented it to him. But the creator of the Suez Canal [and the projector of other peaceful enterprises gracefully declined the offer saying: "I am not a man of the sword; I am a man of peace, and I prefer Mr. Bourbon's cane," which be accordingly took and with which he pointed out the desired locality.


Article from The Wheeling Daily Intelligencer, March 20, 1877

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Article Text

r RECEIVER APPOINTED. f TROY, March 19.-A. D. Bowers has I been appointed receiver of the bank of 9 Lansingburg. Liabilities $875,000; nominal assets $1,150,000. The suspension is : thought to be caused by speculation in : the New Jersey Central. Great excitement in Lansingburg.


Article from The Wheeling Daily Intelligencer, March 20, 1877

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Article Text

Bank Suspension. NEW YORK, March 19.-A Lansingburg, N. Y. dispatch says: A notice on the door of the bank of Lansingburg this morning, announces the suspension of that institution, caused by the depreciation of assets. Application has been made for the appointment of a receiver. The loss, if any to the depositors, is triffling.


Article from The Wheeling Daily Register, March 20, 1877

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Bank Suspension. NEW YORK, March 19.-A Lansingburg, N. Y., dispatch says: A notice on the door of the Bank of Lansingburg this morning announces the suspension of that institution, caused by depreciation of assets. Application has been made for the appointment of a receiver. Loss, if any, to depositors, trifing. TROY, N. Y., March 19.-A. D. Power has been appointed receiver of the Bank The liabilities are of Lansingburg. $875,000; nominal assets $1,150,000 It is thought the suspension was caused by speculation in New York Central There is great excitement in Lansingburg.


Article from Daily Kennebec Journal, March 20, 1877

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NEW YORK. Weather. NEW YORK, March 19. Weather clear, cold, wind west. e Rumor. It is stated that the hotel proprietors of Long . Branch have offered a cottage to President Hayes for the season. t A Commercial Bill. t The Sun says a deputation of representatives of the cheap transportation association, and other commercial bodies, visit Albany to-day, to present to the assembly the merits of a bill creating a railway commission in this state similar to that in Massachusetts. Suspension. A. L. Powers was appointed receiver of the bank of Lansingburg. Liabilities of the bank, $875.000; nominal assets, $1,150,000. It is thought the suspension was caused by speculation in New Jersey Central and other railroad stocks. Great excitement exists in Lansinburg. Arrested. Rev. Titus Joslin, a Catholic priest, is under at rest for bastardy. Courageous Woman. Miss Fanny Hessler seized and held a burglar in her house last night, till the police arrived. The Scranton Trouble. A Scranton special says, opinion is that the machinists, engineers and pump runners will strike, in which case, as they have charge of all the machinery, all the mines in the valley will be idle, and be flooded within twenty-four hours. South Carolina. A Washington special to the Herald says unless Chamberlain withdraws voluntarily in South Carolina, Hampton will, whenever the arrangements of federal authorities are completed, proceed against him in the courts of the State, under a statute enacted by the republicans in 1868, to ena) ble them to put out some democratic incumbents. Mr. Beecher's Faith in Hayes. In an interview on the political situation Henry Ward Beecher said he had strong faith in Hayes and his Southern policy. Serious Charge. The New York Sun prints the affidavit of Eugene Colvin of the treasury department, alleging percentage and shockingly immoral practices, besides drunkenness of Assistant Secretary Conant when Colvin accompanied him in the slums of Washington; also that two pet bad girls are in the currency division of the treasury now. Sad, if True. Christian Ansen, recently pardoned from the Ohio State Prison, attempted burglary Saturday evening, on Broadway, in order to go to prison and escape starvation. Railroad Matters. The Reading railroad has announced a new schedule for the transportation of coal. The new rates are ninety cents per ton from Schuylkill Haven to Port Richmond, a lower rate than ever before known. Investigation. ) I At a meeting of the Lehigh & Wilkesbarre's consolidated bondholders, to-day, a committee was appointed to examine the value and condition of the company's property, and suggest the best method of dealing with the same. Personal. Levi P. Morton, the banker, the pressed for the mission to Austria or Italy. Bitten. Henry Staiger, James Haywood and John Freeman were bitten by a mad dog at North Caldwell, N. J. Their lives are all in danger.


Article from The Daily Gazette, March 20, 1877

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General News. Governor Hubbard, of Connectiont, has vetoed the bill giving members of the Legislature a mileage of twentyfive cents each way as in violation. of the constitutional provision against the Legislature increasing its own pay; also the new registry law, because the requirement that an elector shall be made an elector anew when he removes to another town is an unconstitutional interference with the franchise. The bank of Lansinburg, N. Y., has suspended on account, it is said, of depreciation of assets. The liabilities are $875,000. The real cause oass pension is said to have been caused by speculation in New Jersey Central and other railroad stocks. A.D. Powers has been appointed receiver... The situation in Louisiana is beginning to look warlike again. Gov. Nicholls having decided to proceed by due course of law to eject Packard and his confederates from the State House, Packard is gathering his colored militia for the purpose of getting up a fight. Several of his recruiting officers were arrested by the Nicholls police last evening.


Article from New-York Tribune, March 20, 1877

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SPECULATING WITH BANK FUNDS. TROY, N. Y., March 19.-A. D. Powers was appointed receiver of the Bank of Lansingburg by Judge Ingalls on Saturday last. The liabilities of the bank are $875,000, and the nominal assets, $1,150,000. The suspension is thought to have been caused by speculation in New-Jersey Central and other railroad stocks. Great excitement exists in Lansingburg.


Article from Ottumwa Weekly Courier, March 21, 1877

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Bank Suspended. NEW YORK, March 19.-A Lansingburg dispatch says a notice on the doors of the Bank of Lansingburg, this morning, announces the suspension of that institution, caused by the depreciation of assets. Application has been made for the appointment of a receiver. The loss, if any, to depositors will be trifing.


Article from Ottumwa Weekly Courier, March 21, 1877

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CAUSED BY SPECULATION. TROY, N. Y., March 19.-A. D. Powers has been appointed receiver of the Bank of Lansingburg ; liabilities $875,000, nominal assets $1,150,000. The suspension is thought to be caused by speculation in New Jersey Central. There is great excitement in Lansingburg.


Article from The Jeffersonian, March 22, 1877

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D The Bank of Lansingburg, New York, has suspended, and A. D. Powers has been appointed receiver. The liabilities of the bank are $875,000, and the nominal assets $1,150,000. The suspension is thought to have been caused by speculation in New Jersey Central and other railroad stocks.