American National Bank - New York, NY

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 750
Charter Number: 750
Start Date: April 26, 1873
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: 833fe075

Response Measures

None

Description

Article (Yorkville Enquirer, 1873-05-01) reports the American National Bank of New York suspended 'last Saturday' as hopelessly bankrupt with cashier F. S. Tainter a defaulter ($400,000) and deficiencies over $500,000; this indicates suspension followed by permanent failure. A later 1874 Tribune article merely references the bank in litigation/context. I inferred the suspension date as 1873-04-26 (the Saturday before 1873-05-01) but record date is approximate.

Events (4)

1. January 25, 1865 Chartered

Source: historical_nic

2. May 10, 1872 Voluntary Liquidation

Source: historical_nic

3. April 26, 1873 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Embezzlement/defalcation by cashier F. S. Tainter ($400,000) and large insolvency (deficiencies > $500,000).
Newspaper Excerpt: The American National Bank of New York city suspended last Saturday, being hopelessly bankrupt. The Cashier, F. S. Tainter, is a defaulter to the amount of $400,000, which is acknowledged by himself. The actual deficiences of the bank are over half a million.
Source: newspapers

4. * Receivership

Newspaper Excerpt: The American National Bank of New York city suspended last Saturday, being hopelessly bankrupt. The Cashier, F. S. Tainter, is a defaulter to the amount of $400,000, which is acknowledged by himself. The actual deficiences of the bank are over half a million. The defaulting cashier has been lodged in jail.
Source: newspapers

Newspaper Articles (2)

1. May 1, 1873 Yorkville Enquirer York, SC

Article from Yorkville Enquirer, May 1, 1873

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Article Text

- A despatch from Leavensworth, Kansas, says the United States surveyors have withdrawn from the Indian country until they can secure government protection. It is reported that the Indians are driving away the stock and killing the settlers in Southwestern Kansas. - It is intimated in official circles that Kellogg's recent action in sending troops into the interior of Louisiana to make arrests, was induced by a hint from Washington that unless he took steps to maintain his authority, the Federal Government would not keep him in office by the force of the military. - The American National Bank of New York city suspended last Saturday, being hopelessly bankrupt. The Cashier, F. S. Tainter, is a defaulter to the amount of $400,000, which is acknowledged by himself. The actual deficiences of the bank are over half a million. The defaulting cashier has been lodged in jail. - The New York World estimates that there are 125,000 women in that city earning their living in other than domestic employments. Of these 15,000 are milliners, 12,000 artificial flower makers, 20,000 in the hoopskirt manufactories, 12,000 in the hatting trade, 9,000 tailoresses, while several thousand work in book binderies, and large numbers are employed making parasols and umbrellas, and other minor trades. - It is stated upon reliable authority that fifty men, twenty-five of whom are experienced officers, have left Washington city to join an expedition of 1500 men which will shortly sail from a port in North Carolina in the interest of Hayti and to depose Baez and to oppose the occupation of Samana Bay by Americans. It is intimated that the Haytien Minister, Mr. Preston, has been quite liberal in furnishing outfits to officers. - The legal proceedings which have for some time been pending in the Federal Court at Washington against the Piedmont railroad, between Greensboro, N.C., and Danville, Va., have been dropped. Application had been made to the Attorney-General to seize the road as confiscated property; but that official decides that the President's proclamation of so as to restore or corporators pardon in 1868 stockholders operates all their rights, to the and therefore the right of the Government to seize the road is barred. - The colored people of New York are now in possession of the full rights of citizens. A bill has passed the Legislature, and received the signature of the Governor, by which innkeepers, common carriers, by land or water, managers of theatres and other places of amusement, and even cemetery associations, are prevented from making a discrimination against any one, on account of color, who may ask for the privileges usually given to white people. A defining clause of the bill also repeals all past legislation that is contrary to the above requirements.

2. March 24, 1874 New-York Tribune New York, NY

Article from New-York Tribune, March 24, 1874

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Article Text

THE COURTS. TRIAL OF CALLENDAR. EVIDENCE FROM VARIOUS SOURCES. At the resumption yesterday in the United States Circuit Court of the trial of ex-Bank-Examiner Charles Callendar for accepting a bribe for reporting favorably upon the condition of the Ocean National Bank, Edward Wolcott, a clerklin the office of the Controller of the Currency, produced certified copies of Callendar's reports upon the condition of the following banks in this city Union Square National Bank, American National Bank, Atlantic National Bank, and the Commonwealth National Bank. These reports were favorable to the banks, and, as they either failed or went into liquidation soon after they were made, Mr. Purdy claimed that they were 'blackmailing reports, or false reports, for the making of which Callendar received bribes." T. O. Edaugh, who is also a clerk in the office of the Controller of the Currency, produced Callendar's report upon the condition of the Fourth National Bank of Philadelphia, and his reports upon the condition of the following banks in this city: Continental National Bank, First National Bank, Third National Bank, Mechanics' National' Bank. National Currency Bank, Central National Bank, Ninth National Bank, Metropolitan National Bank, Broadway National Bank. None of these banks have failed, and only one of them, the Fourth National Bank of Philadelphia, went into liquidation. Mr. Purdy introduced the reports referred to only in connection with the fact that Callendar had borrowed money from the banks reported upon and the allegation that he had threatened to m ake unfavorable reports if the mony he wanted were not loaned to him. Mr. Stevenson, who was President of the Ocean National Bank when it failed. repeated his testimony to the effect that Callendar's first transaction with that bank took place in January, 1868; that the bank's reserve fund was not up to the standard on Oct. 3, 1871, and that to raise it to the required amount Callendar's checks for about $50,000 were counted as legal tenders. The recently-published matter of Callendar's indebtedness to the Ocean National Bank was again considered, but nothing was elicited from the witness, except that, as was claimed, the bank had, on Oct. 3, 1871, loaned Conant, Wild & Co. about $100,000 more than it had any right to loan, and that, at that time, it had $112,000 in Portage Lake bonds, and $100,000 in Decatur, Sullivan and Mattoon bonds. Au examination of the statement-book of the bank corroborated National Bank-Examiner Meigs's testimony that it was insolvent by over $1,000.000, and that it had on hand when it failed about $1,811,450 in unavailable bonds, stocks, and notes. It is claimed by the prosecution that the bank had that amount in such bonds, stocks, and notes on hand for two years before it failed, and that Callendar knew it when he reported that the bank was in a prosperous' condition. It also appeared that the unavailable paper referred to was supposed to be good security where money was loaned on it, and that since the failure of the bank over $152,000 worth of it had been paid. It was further shown from the books, that between July and October, 1871, the business of the bank had increased to the extent of $30,000, and ex-Judge Fullerton remarked that such increase corroborated Callendar's statement that the bank was in a prosperous condition. Isaao H. Bailey, the Receiver of the Common wealth National Bank. testified that he found in that bank notes showing that Callendar owed It about $30,000, and that the notes were indorsed by Wild, Avery & Conant, and Callendar, but that Callendar appeared as the borrower. The Court then adjourned till to-day, when Frank L. Taintor, who is serving out a term of seven years' imprisonment for embezzling the funds of the Atlantic National Bank, will be a witness for the prosecution.