Article Text
An Embarrassed Bank. LOCKPORT. N.Y., Oct.20.-The Lockport Banking Association transacted no business to-day, owing to embarrassment, which it is hoped will be remedied soon. Depositors will be protected in case of actual suspension.
15202. Lockport Banking Association (Lockport, NY)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- state
- Start Date
- October 20, 1884
- Location
- Lockport, New York (43.171, -78.690)
Metadata
- Model
- gpt-5-mini
- Short Digest
48eaafdf
Response Measures
None
Description
Articles from Oct–Jan show the Lockport Banking Association suspended payment in late October 1884, an assignee filed statements in November 1884, and by January 1885 the bank is described as 'broken' with suit and examination of officers — consistent with a suspension followed by permanent closure/receivership. No article describes a depositor run preceding the suspension; the cause appears to be bank-specific mismanagement/insolvency.
Events (4)
1.
October 20, 1884
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Bank was 'embarrassed' and subsequently 'suspended payment' due to insolvency and irregular business practices; started without paid-in capital and misaccounting of profits/losses.
- Newspaper Excerpt
- An Embarrassed Bank. LOCKPORT. N.Y., Oct.20.-The Lockport Banking Association transacted no business to-day, owing to embarrassment, which it is hoped will be remedied soon. Depositors will be protected in case of actual suspension.
- Source
- newspapers
2.
October 31, 1884
Other
- Newspaper Excerpt
- THE Lockport Banking association, a private banking firm of Lockport, N. Y., of many years' standing, has suspended payment.
- Source
- newspapers
3.
November 7, 1884
Other
- Newspaper Excerpt
- The statement of the assets and liabilities of the affairs of the assigned Lockport, N. Y., Banking Association was recently made public by the assignee. By that statement the liabilities were shown to be $880,037.41, of which $75,614.14 was owed to citizens.
- Source
- newspapers
4.
January 4, 1885
Receivership
- Newspaper Excerpt
- LOCKPORT, Jan. 4.-The depositors of the broken Lockport Banking Association are highly indignant at the loose and irregular business transactions which their suit against Storrs and Collier, the two surviving partners, discloses.
- Source
- newspapers
Newspaper Articles (4)
Click image to open full size in new tab
Click image to open full size in new tab
Article Text
NEWS SUMMARY Eastern and Middle States. A MAN named Samuel Boone, of Southport, N. Y., who was ejected from the executive chamber at Albany recently for creating a disturbance because Governor Cleveland refused to pardon his wife's brother, made an attack upon the governor while the latter was on his way to the capitol. The governor left the executive mansion a few minutes before 9 o'clock A. M. He had just passed the Medical college near the foot of Lancaster street, when Boone suddenly struck at him. The governor parried the blow with his right arm and treated several additional blows in the same manner. Boone then rushed toward a pile of cobble stones, but before he could pick one up he was seized by Dr. George H. Houghton, who he'd the man until Governor Cleveland had resumed his walk. Releasing Boone, Dr. Houghton overtook the governor, and found that he was in no way injured by the assault. Boone walked rapidly to a house close to the place of assault. There he was arrested. The city was quickly flooded with all sorts of reports regarding the assault. Governor Cleveland made light of the matter and attended to business as usual. Boone, a young man about twenty-eight years old, said he was distracted about his wife, who was at the point of death. THE Lockport Banking association, a private banking firm of Lockport, N. Y., of many years' standing, has suspended payment. A BROKEN dam about a mile above Ansonia, Conn., let out a flood of water covering 200 acres which rushed through the lower portion of the village, causing consternation among the people. More than 100 families were forced to leave their homes and flee for safety to higher grounds from the terrific flood which rushed with great speed through the streets. THREE doctors who examined Boone, the assailant of Governor Cleveland at Albany, declared him not insane, but of extremely nervous disposition. As Governor Cleveland did not wish to prosecute, Boone was released. AT the Carthage (N. Y.) fire there were 202 buildings burned, of which 108 are dwellings, four churches, two schools, one opera house, one store, one village hall, one wagon shop, one hotel, and the remainder are manufactories and barns. THE first snow of the season fell a few days since in the Wyoming valley, New York. A SOLDIERS' monument was unveiled at Waterbury, Conn., in presence of 30,000 persons, including the governors of Connecticut, Rhode Island and Maine, United States Senators Hawley and Platt and other prominent men. There was a procession, with other appropriate ceremonies. The monument is of granite, fifty feet high, and cost $30,000. MRS. ANNIE LOGAN, of Philadelphia, driven to despair by the desertion of her worthless husband, killed her three-year-old son and then committed suicide.
Click image to open full size in new tab
Article Text
SUM per THE EAST. SCHEDULES of the assignmentof William Ester, dealers in furs, to Albert Moore, filed in a New York court, recently, show liabilities to be $18,000; nominal assets, $17,000; actual assets, $11,000. HERMAT JONES, wholesale liquor dealer, 176 Broadway, made an assignment a few days ago without preferences. Hehad been in business since 1875, and was formerly of the firm of Wormser & Jones, Pitts. burgh. HEREAFTER the Baltimore & Ohio road the JOAO that ou una IIIM road to New York, but a lively war will be inaugurated between Baltimore and the 4se M IT is said an average of twenty members of the New York City Common Council are on hand at every boxing match. u! progress u! receitty SUM THE V is called the Knoxville coal mine, near Pittsburgh, Pa. The flames spread very rapidly through the mine and a large number of cars were destroyed. The fire was the work of incendiaries, who saturated the walls with coal oil. The loss was $5,000 or more. ONE of the smoothest scoundrels who has manipulated for many days was lately arrested in New York. His name is George SUM Jo scheme S!H Branscom. O very well planned, and came near making him a fortune. Branscom was one-armed, but wielded the pen with his left hand with wonderful skill. He served three years and a half in prison for forging Florida water bonds. His scheme was to publish two elaborate works of interest to visitors and exhibitors in the New Orleans World's Fair Guide Book, and a costly illustrated book called "Resources and Attractions of the South," sell advertising space worth $36,000 and he disposed of the books and copyright in cash for a round sum, meanwhile depending on forgery for the necessary means to keep the scheme going till its completion. He contracted with the American News Company to take 100,000 guide books and title and copyright at $25,the JO *000'00$ 18 the pus '000 latter 10,000 copies were to be printed and *Adoo B 01$ 18 p[os eq 04 SUM # MOODY and Sankey have lately been holding successful revivals at Worcester, Mass. THE Havana line steamer Armon de Her-'OIS Jo exteet the 01 persurep SEM PUBLIC 000 by fire a few nights ago while at pier 18, East River, New York. -8 dumas 'M 'H JO SHIOM 3HJ Co., three-quarters of a mile from Stouchsburg, Pa., a village of five hundred inhabitants, blew up recently, shaking up the country for a distance of twenty miles. The works consisted of five frame buildings, timbers of which were sent flying in all directions. Nothing remained but the foundations. All the men in the buildings were killed, SO the cause of the explosion can never be learned. A VERY important motion was recently decided in New York by Judge Donohue, of the Supreme Court. In the well known case of Peter Marie and others versus Cornelius K. Garrison and others. Garrison was victorious. RETURNS from New York showed that Mr. St. John received a larger vote than he had expected to get. CHARLES MCDONALD, of Waterford N. sepeeters subsetted JO Abrut B JO euo "A sent to Mechanicsville, lately jumped from a train while being conveyed to prison. His mangled remains were found on the track. BARTHOLOMEW HAAS, a German at Jersey City, N. J., recently shot his wife and then himself. The wife died but the murderer did not succeed in taking his own life. MRS. JUDGE HOAG MOSHER, one of the pioneers of Niagara County, N. Y., who died at the age of one hundred years and $ xteen days, settled in that county in 1817. In 1834 her husband died in the seventyeighth year of his age. Mrs. Mosher leaves six children, thirteen grandchildren and seven great-grandchildren. A FIRE was lately in progress in the Knoville coal mine near Pittsburgh, Pa. The flames spread through the mine, and a large number of cars were destroye The -188 oum JO MJOM the SBM e.rg urated the wall of the mine with petroleum. *000'0$ SUM SSO[ The THE American society of Mechanical Engineers recently met in New] York and elected officers for the ensuing year. J.F. Halloway, of Cleveland, O., was elected President. THE statement of theassets and liabilities of the affairs of the assigned Lockport, N. Y., Banking Association was recently made public by the assignee. By that statement the liabilities were shown to be $880,037.41, of which $75,614.14 was owed to citizens. ON November-7 a number of the mills of Fall River, Mass., closed down owing to the hard times. Two West Shore passenger trains recently collided near Rochester, N.Y. Engineer and fireman jumped into the Genesee River and saved their lives. Locometives and cars were badly wrecked. The accident Jo No that euo Aq cansed SUM *earg GEORGE MONTAGUE was recently elected President of the New York City Second National Bank in place of defaulter John C. Eno. to ano blood recentily ere LHOINGIN V Jersey City, N.J., in the hair rooms of the Japanese Hair Manufacturing Company, at Bay and Greene streets. The entire building was destroyed. The flames spread to an adjoining oleomargarine factory, which was also burned. The total loss was about *000'01$ THE WEST. RECENTLY, at Ottumwa, Ia., while the Sheriff and his deputy were in Bloomfield attending a political rally, all the prisoners in the County Jail broke out and escaped. EARLY last August Gerald Moore, a business man of St. Paul, Minn., was arrested on the charge of bigamy, and on being brought before Judge Brill pleaded guilty, -mas 10 years $2.00 04 servenced SUM put water, whither Sheriff O'Gorman conweyed him at once. The charge was preferred by a certain Thomas Lodge. who
Click image to open full size in new tab
Article Text
THROUGH NEW-YORK STATE. EXAMINING INTO A SUSPENDED BANK. [BY TELEGRAPH TO THE TNIBUNE.] LOCKPORT, Jan. 4.-The depositors of the broken Lockport Banking Association are highly indignant at the loose and irregular business transactions which their suit against Storrs and Collier, the two surviving partners, discloses. It is believed that still more astouishing developments will be made when the bank officers are examined on January 13. Cashier Collier testified to-day that $6,000 profits had been taken from the bank, of which he had received the interest: Collier's family, $4,000, and W. W. Storrs, $2,000. Collier at this time owed the bank $16,000, borrowed money, which he still owes it. Other testimony showed that the bank, when it failed, was rated good for about $250,000, that it was started without a dollar of paid-in capital. The profits were always entered up and the losses were frequently omitted from the proper accounts. Depositors may possibly get 50 per cent, but are not sure of over 35 per cent.