15313. Atlantic National Bank (New York, NY)

View Charter #1388 on SPMC

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
1388
Charter Number
1388
Start Date
April 26, 1873
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini
Short Digest
ce63db6d

Response Measures

Accommodated withdrawals, Full suspension, Books examined

Other: Receiver appointed by Comptroller; dividends later paid from receivership assets.

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1873-04-28
Date receivership terminated
1884-04-29
OCC cause of failure
Fraud
Share of assets assessed as good
49.6%
Share of assets assessed as doubtful
8.7%
Share of assets assessed as worthless
41.7%

Description

Cashier F. L. (Frank/Franklin) Taintor confessed large defalcations (~$400k–$600k). Depositors made heavy withdrawals and the bank paid demands until about 3pm (run). Clearing House examination led to appointment of a receiver by the Comptroller; bank remained in receivership and did not resume normal operations (receiver later paid dividends totalling ~55%). Dates follow contemporaneous reports (Saturday, Apr. 26, 1873).

Events (5)
1. July 1, 1865 Chartered
Source
historical_nic
2. April 26, 1873 Run
Cause
Bank Specific Adverse Info
Cause Details
Embezzlement/defalcation by cashier F. L. Taintor (reported between $400,000 and $600,000), losses mainly in stock speculations (Pacific Mail), undermining bank solvency.
Measures
Paid out demands and deposits up to closing hour (about 3:00pm); continued to receive some deposits earlier in the day; thereafter Clearing House committee examined affairs.
Newspaper Excerpt
the Bank paid every dollar demanded of it until the arrival of the hour of three o'clock, when it legally closed its doors ... notwithstanding a heavy run from such depositors as heard of the trouble.
Source
newspapers
3. April 26, 1873 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suspension/closure resulted from the cashier's large embezzlement (F. L. Taintor) which rendered capital and assets insufficient to meet liabilities (deficit reported roughly $400k–$604k).
Newspaper Excerpt
the Comptroller of the Currency has appointed a receiver ... the bank was ruined by its cashier, self-confessed defaulter for nearly half a million ... the Clearing House Committee ... took charge; examiner Meigs directed to take charge.
Source
newspapers
4. April 27, 1873 Receivership
Newspaper Excerpt
Charles E. Strong was to-day appointed receiver of the Atlantic national bank. ... the appointment of a receiver by the Comptroller of the Currency; receiver Strong took charge and began examination of securities; dividends later paid (total ~55%).
Source
newspapers
5. April 28, 1873 Receivership
Source
historical_nic

Newspaper Articles (20)
1. April 27, 1873 The New York Herald New York, NY
Article from The New York Herald, April 27, 1873

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Heavy Defalcation in the Atlantic National Bank. Just as Wall street was about putting up the shutters yesterday a rumor got rapid circulation that the Atlantic National Bank, an institution of moderate activity and fair reputation, having its counting house in Nassau street, nearly opposite the Post Office, had been compelled to suspend. In this respect the rumor was literally an untruth, at least for the day, as the Bank, desperately defying the fate which circumstances afterward proved must be inevitable, paid every dollar demanded of it until the arrival of the hour of three o'clock, when it legally closed its doors, as it could, against all claimants for the day. The trouble is the old story of stock speculation by the cashier and a defalcation in his accounts, the amount involved in this instance being nearly half a million. A curious feature of the affair is the deliberate conduct of the cashier in disclosing his "misdeeds. With a frankness which, under the circumstances, would almost argue the loss of the man's wits, he proceeded to the Clearing House, of which the Bank was a member, and coolly requested an investigation of his books and an examination of the Bank's affairs, stating at the same time that he was a defaulter in his cash account. A committee of the Clearing House acceded to his request, and, as a result of their labors, it was announced last evening that the institution was bankrupt and would not be able to resume on Monday. The facts were telegraphed to the Comptroller of the Currency, who has ordered the appointment of a receiver. In one sense, therefore, the Bank has failed, and in another it has not. It was open and paid all claims up to three o'clock yesterday. But the interval to ten o'clock Monday morning is a legal holiday for the Bank, so that the action of the Comptroller of the Currency looks upon the face of it as if he had appointed a receiver without sufficient legal reason. This controversy aside, the defalcation of the cashier comes as a sermon full of point this Spring Sunday, when our several hundred metropolitan congregations run their eyes over the decalogue at church this morning and read its included command, "Thou shalt not steal." The Atlantic National Bank, as its name implies, was of the national system, and only a few weeks ago made its sworn statement of assets and liabilities. The fact evokes another inquiry, Who was it that broke the other commandment, "Thou shalt not bear false witness," and how many more of the decalogue were broken in this same crime of defalcation?

2. April 27, 1873 Nashville Union and American Nashville, TN
Article from Nashville Union and American, April 27, 1873

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NEW YORK. Another Big Bank Failure. Over $600,000 Gone Glimmering. Jim Fisk's Credit Mobilier Stock. NEW YORK, April 36. In the case of the widow of Jas. Fisk, Jr., against the Union Pacific Railroad Company, the Credit Mobilier and others, N. W. Butler, who claims to be the owner of twenty-five shares of the stock, asked Judge Blatchford, today, through counsel, to be permitted to intervene in the suit and share in its benefits; also, that the suit shall not be discontinued without notice to him. Decision reserved. Senator Schurz. Carl Schurz sailed for Europe to-day. Pretty Good for Scalping. The Purchasing Committee Board of the Indian Commissioners have contracted for 1,503 dozen butcher knives and 120 skinning knives, among other articles to be furnished the Indians. Wall Street Gossip intimates that if the Erie and Atlantic and Great Wes' ern railroads cannot be consoliclose working or running dated, established arrangements on a prorata basis will be them. It is also said that Gould, and Goldsmit the Erie campaign, Bischoffscheim between regular Gould have opened having short of stock on sales to are The campaign is to gone who long. the the be latter still further enlivened according to same authority by a war to be waged by Bischoffscheim, Erie's London banker, on President Watson. Postponed till 77. T'wenty-seven delegates from various trades unions in the United States met in secret session last evening and after discus- to sion resolved to postpone any attempt enforce the eight hour rule till 1874. The Criminal Calendar-4 8400,000 Defaulter. F. L. Sainter, Cashier of the Atlantic National Bank, is repo: to have confessed himself a defaulter in four hundred thousand dollars. The bank is said to be temporarily suspended. LATER.- An investigation made by the the House Committee shows that of the Atlantic bank has five hundred thousand Clearing capital paired been hundred dollars. imFainter admits that he used four thousand in stock speculations, chiefly Pacific Mail. The bank will pay to depositors in 50 cents on the dollar. Fainter is now the Ludlow street jail. LATER-It is found the deficit, of the capital and surp us, independent STILL $180,000 to $604,000; about of this could be traced to for which the Cashier was not About of losses were by him in his stock amounted amount $420,000 speculations. responsible. bad made debts, the An investigation is being made by Washington authorities into the accounts New of Henry W. Whiting, Cashier of the York Postoffice. Edward Corvigan has been arrested on the charge of being the person who, in August last, fired a stone through a window of the saloon of one Fritz in West Fiftysecond street, killing a daughter of the latter. The coroner has ordered the arrest of Sergeant Westerman and Officer McDon- Wm. nell on the charge of fatally clubbing Rehisen. Three river pirates last night went on of a bark lying at Fourth clubbed the watchman into river, board street, insensi- east bility and then rifled the cabin. About the same hour a kindling wood factory at Avenue B and Eighteenth bound street into and the watchman While the thieves were and was gagged. broken guard oper- anating on a safe, a confederate on nounced the approach of police and all got away safely. Somebody gave point last night to dur- the ridiculous and threatening letter sent being the week to Recorder Hackett by smearing the front of his house. The Raid on the Land Sharks. owners and Shipmasters Association in view of the to see how far the The ship propose, organized arrests bands last of keepers may fere the commerce of the port. and their runners have have prevented men keepers night, sailor with boarding-house been These inter- from bold rebefore the as shipping of late. They Commissioner, that the adlaw, and even insist shall be paid quired vance hours money by within been twenty- put four after the men have on board, and that often without the seamen's signature to the note. They also seek to prevent men shipping, that they may break down the law, and for that purpose have Com- a committee in the neighborhood of the missioner's office, frightening off seamen; and seaman does get into he is followed there frequently if a the and office in openly with violence if he ships any or on terms other than manner threatened number the of boardhouse keepers dictate. A been vessels with their cargoes on board have detained for days waiting for crews. LATER-Five more sailor boarding-house were arrested to-day. with those arrested last were gether keepers night, These, dollars to admitted to bail in five hundred each. The entire Fourth Ward accompanied the prisoners to court.

3. April 27, 1873 The New York Herald New York, NY
Article from The New York Herald, April 27, 1873

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THE SPECIE MOVEMENT. The European steamers took out $153,404 in silver. The total exports of specie during the week and since the beginning of the year, as compared with previous years, have been as follows:Total for the week $773,018 16,348,423 Previously reported Total since January 1, 1873 $17,121,441 Same time 1872 9,187,334 Same time 1871. 23,334,186 Same time 1870 8,117,860 Same time 1869 10,914,455 Same time 1868 20,699,561 STOCKS DULL AND LOWER. The stock market was dull and steady throughout the forenoon, and was inclined to strength and improvement in consequence of the favorable nature of the bank return; but grew weak all of a sudden, and declined quite mysteriously 1/2 al per cent, the movement being alterwards discovered to have resulted from sales by parties who had obtained an early knowledge of the heavy defalcation in the Atlantic National Bank, the trouble in which institution did not become public until near the close of banking hours. It was at first erroneously stated that the BANK HAD SUSPENDED, but the doors remained open to three o'clock. up to which hour every demand was paid, notwithstanding a heavy run from such depositors as heard of the trouble. Notwithstanding the ugly look of the defalcation and the present hopeless character of the bank's situation it has not failed, in the strict meaning of the word, and should the stockholders make good the deficit before Monday, at ten o'clock, everything would go on as usual. The reader will find a full account of the affair in another column, the report embracing the result of an interview with the cashier and of the investigation he invited from the Clearing House. P. S.-7 o'clock.-Since the above was written it has transpired that the assets of the bank are hopelessly insufficient to meet liabilities. Upon the report of the Clearing House Committee the Comptroller of the Currency has appointed a receiver. HIGHEST AND LOWEST PRICES. The following table shows the highest and lowest

4. April 28, 1873 New-York Tribune New York, NY
Article from New-York Tribune, April 28, 1873

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A BANK UNDERMINED THE ATLANTIC NATIONAL RUINED BY ITS CASHIER SELF-CONFESSED DEFAULTER FOR NEARLY HALF A MILLION-THE ENTIRE CAPITAL AND MUCH MORE THROWN AWAY IN WALL-ST. SPECULATIONS-THE CASHIER IN JAIL Wall-st. was thoroughly astounded on Satarday by the announcement first whispered but finally declared without reservation that the Atlantic National Bank had been ruined and that the cashier was de faulter in $500,000. Measures were instantly taken to assertain what truth there was in the statement, and it was soon learned that the reality exceeded even the wildest rumors which were in circulation regarding the bank and its operations. The circumstances of the dieclesure About Saturday, F.1 L. Taintor. cashier of the Atlantic National Bank, of No. 17 Nassau-st. entered private office of Frederick D. Tappen, President of Gallarin National Bank in Wall-st. and saluting him informed him that he was cashier of the Atlantic Na tional Bank and a defaulter to the extent of $100,000. Mr. Tappen sprang from his chair and confronting the who had 80 coolly made 80 remarkable a confession. asked him why he had come to him with such a statement. Taintor, thoroughly self possessed, said that it because Mr Tappen was Chairman of the Dearing-house Committee, and he wished to relingaish his trust into the hands of that officer. Beareely able to believe what he had heard, Mr Tappen asked why he had come to him to make such terconfession,and Taintor replied that the bank officials about to make examination into the affairs of bank. and was no longer possible, he wished by anticipating their action, al. though he knew at cost it would be to himself Tappen instructed him to return to the bank and his coming with the other members of the Clearing Committee. Taintor returned to the Atlantic National Bank, and Mr. Tappen immediately telegraphed to the other members of the Committee. Messrs. Cadup, Hayes, Hunter, Leverich and Perkins, to neet him in order that they might proceed to investicondition of the bank. Between and m. they entered the Atlantic National Bank, where matters were going on as faintor doing his work and giving instructions usual, to his abordinates. Sus the President office of Mr. Southworth they by him at the door. peeting that gone wrong he falteringly maked cause of their visit. When it was briefly a plained to him he was very much overcome, and said ex that would have suspected Taintor of such The arime Committee suggested that under the cir To would be wise to close the bank at this Mr. objected, declaring that once proved he would not until comclosing the bank as it stood well with the business consent to pay munity. As he declined to issue orders to suspend payments, the tellers continued to receive and usual. While the other members of the examining the bank's Comlearned securities, Mr. Tappen from Mr Southworth that on the day said to Mr. Taintor that the bank' loans previous had for time, and suggested not haps, that they would better them over together that, and perdewurred right. Much to his surprise, Tainton see and finally refused to comply with his demand permit him the loans. Southworth meeting of the Board of Directors to then called submit to escape this that compel Taintor Taintor sought to Tappen. PACIFIC MAIL VICTIM. While called the still in progress Mr. Tap Taintor the private office and the details of the fraud. Taintor questioned informed that the money had been lost in stock speculations, other manner. He stated that he was of being chosen as the cashier of a bank. and when proud went into Atlantic Bank, finding that it was be bessful andertook strong and reputable by weak, sucand he had not successful, the ventures were the Stock Exchange. Unfortunately period of about five years, until gone on February he immense sum by the decline making $400,000. or $100,000 than the capital probable of the bank. total said the responsibility of his operations that he accomplices, and that President the rest of associates were ignorant Dr his crimes. lessly The Committee, finding the bank was 80 lion insolvent. not as thorough hopedoubt. &8 they would done if there had an examinabetween They discovered. that the default been any $400,000 and $425,000. follows $160,000 worth was property gold, deposited for safe keeping $75. the eashier's represented tickets for $25,000 and $50,000 bank as drawer, and deposited with the banking collateral on loans. Just before the close of positors, and hours, some of of the trouble reached de demanding their them rushed to the bank, and, At courteous. unusually cashier being money, received it, the defaulting p.m., was however, the closed paying and no gained of depositors the bauk had who deposited were particularly however depositors, immunicated Tappen and received the WASHINGTON 1873, April 26 Section Currency. Mr had Tappen of the forma, purpose The United States examina the the bank and must there have been grossest and for otherwise on for a such DEFAULT Throughout never betraying the most unperturbable Tainton preserved the alightest tions mood. emotion. but relaxing occasionally into face. wittiers when be would address some commonplace the unfortunate depositors, who, ignorant words truth. they the had called upon the enalacrity who borea warrant the com furevidence custody, about medium hight, "appears Windham and owner of stock Bank. after Young Taintor, the clerk Bank, began in American years. to to the His untant. made first assistant He married,and So known be far within living extravagant, story his own his him into difficulties. his with installation as been to have able at to or make least of conjecture, the knowledge that it did ground

5. April 28, 1873 Evening Star Washington, DC
Article from Evening Star, April 28, 1873

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TELEGRAMS TO THE STAR This Afternoon's Dispatches. ASSOCIATED PRESS REPORTS. New York Notes. NO DEFALCATION IN THE POST OFFICE. NEW YORK, A pril - Postmaster James pronounces without foundation the rumors of defalcation in the accounts of Henry W. Whitney, cashier. The rumor originated from the fact that while Mr. Whitney is making up the last quarterly accounts of ex-postmaster Jones, another is acting cashier. JUMPING FOR LIFE. The boarders in the St. Charles hotel, of Patterson, on fire early yesterday, narrowly escaped by jumping from the upper windows to the adjoining buildings. One man fell to the ground and was fatally injured. Two women were seriously hurt. A LARGE CROWD OF DEPOSITORS and others interested are collected around the Atlantic bank this morning, but the doors were closed, and the bank in possession of United States Examiner Meigs, who, in connection with its officials, are investigating its affairs. THE ATLANTIC BANK DEFAULTER IN JAIL. Charles E. Strong was to-day appointed receiver of the Atlantic national bank. Taintor, the defaulting cashier, was brought before the United States commissioner, but as he had no counsel, no application for bail was made, and he was sent back to jail. THE MEETING OF MERCHANTS, delegates of the different producers' associations, etc., with the Senate committee on transportation, is called to assemble at the Astor House, in this city, on the 6th of May A DEFAULTER'S EFFRONTERY. It is thought Taintor, the defaulting Atlantic Bank cashier, who has wealthy and influential friends, will be released on bail to-day. He still maintains his wonderful effrontery and coolness of manner. It is now believed the depositors will recover all their money.

6. April 28, 1873 Evening Star Washington, DC
Article from Evening Star, April 28, 1873

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Another Sensation in Wall Street. SUSPENSION OF THE ATLANTIC NATIONAL BANK, OF NEW YORK-THE CASHIER A DEFAULTER TO THE TUNE OF $400,000. Wall street was greatly excited on Saturday afternoon by the rumor that the Atlantic National Bank had suspended on account of the embezzlement of over $400,000 by F. L. Taintor, the cashier, and subsequent developments proved the report true. During the afternoon Taintor went to Mr. Tappan, chairman of the executive committee of the clearing house, and coolly told him he was a defaulter to the extent of $400,000. He further said that the directors would visit the bank that day, when some of the facts might come out; that they were a set of old fogies, and he didn't want any scene or reproaches. Mr. Tappan at once called the clearing house committee together, and they immediately went to the bank. Mr. Tappan informed the president, Mr. Southworth, of the facts in the case, and the old man sank down in his chair and remained speechless for some time. Mr. Tappan advised him to close up, but the grief- stricken old man refused, and kept the bank open until o'clock as usual, receiving a few deposits and paying out large sums to panie-stricken depositors, who came in hot baste to get their money on hearing the rumor about the bank. An examination by the clearing house committee revealed the fact that over $400,000 of the funds of the bank had been stolen. The controller of the currency was notified, and at once directed bank examiner Meigs to take charge of the bank as receiver. The amount of Taintor's defalcation is something between $400,000 and $425,000, divided as follows:-$75,000 in gold, which he took from the vaults of the bank; $160,000 of property which had been placed in the bank for safekeeping; the balance was in securities which had been in the bank as collateral on loan. Taintor said he had lost a great deal of this money in February last, and that the decline in Pacific Mail had hurt him very badly. He also lost in the late panic. The clearing house committee found that not only the capital of the bank but also its assets have completely vanished,owing to Mr. Taintor's skilful manipulations. Mr. Tappan says, however, that the depositors will in all probability not suffer any loss, as the stockholders are responsible to the last dollar. Mr. Meigs was to begin to-day to make a more thorough examination of the bank's affairs, while the United States will deal with the defaulting cashier. The appointment o Meigs as receiver is only temporary. The following is the financial condition of the bank:-Realizable assets, $549,000: liabilities to depositors, $615,000; stolen securities from the bank, $162,000 (the actual value of which in market is $228,000;) capital of bank, $300,000; surplus, $76,000; making an actual deficit of $604,000. This leads some to suppose that the real losses of Taintor are much larger than he stated.

7. April 28, 1873 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, April 28, 1873

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A Defaulting New York Bank OfficerRobbery of a Vessel. NEW YORK, April 26.--Wall street was excited to-day over a four-hundred-thousand' dollar defalcation by F. L. Taintor, cashier of the Atlantic National Bank. The bank did business up to 3 o'clock, when its aflairs won't in'o the hands of the Clearing-House receiver. Taintor was arested. The bank loses $500,000, and will be able to pay fifty cents on the dollar. Thieves to-day. boarded the Italian bark Tironiesse, knocked the crew senseless, and stole $100 and other property.

8. April 28, 1873 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, April 28, 1873

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ALEXANDRIA, VA. MONDAY, A PRIL 28, 1878. Some excitement was occasioned in financial circles in New York on Saturday by - the announement of the temporary suspension or failure of: the Atlantic. National Bank. Their affairs were placed in the hands of the clearinghouse committee, to which F. L. Taintor, cashier oft the bank, confesses he is a defaulter in the sum of $400,000. Taintor lost the money in stock speculating, principally in Pacific Mail: He has held the position of cashier for five years, and his defalcations have extended over that period. A committee made an examination and found that the capital of the bank was im paired about five hundred thousand dollars, though it was stated later that the amount of defalcation would reach six hundred thousand dollars. Tainfor assisted the officers in making the investigation. His father is very wealthy. Taintor was arrested and taken to Ludlow-street jail, The bank will pay fifty cents on the dollar.

9. April 29, 1873 The New York Herald New York, NY
Article from The New York Herald, April 29, 1873

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"Heavy Operations." There was probably a larger crowd around the defunct Atlantic National Bank yesterday morn. ing than there had ever been during its weakly existence. Inside were the usual clerks, the offid cers, including that good old gentleman, Mr. Southworth, besides Mr. Charles A. Meigs, the National Bank Examiner for this district, who was appointed to the position of receiver on Saturday evening. There were also present Mr. Tappan and the other members of the Clearing House Com4 mittee. But it was outside that the most interest ing scene was taking place. The depositors, many of whom knew nothing of the affair until the pub lication of the particulars on Sunday morning, had come down at an early hour, and had waited patiently, some of them for a couple of hours, be. fore the usual hour of opening, in the hope of being first. With these there seemed to be still some latent hope that they would get their money. Many believed that the bank would make some STRONG EFFORT TO RECOVER and open as usual. It was only a despairing nope, however, which sustained these, and they were rapidly undeceived when the hour of ten arrived. Others seemed to have some indistinct notions of seeing Taintor come down to wind up the concern and the manner in which these gentlemen spoke o the absent cashier would perhaps have even sur prised that cool individual himself. One said, "I'd just like to have that fellow for five minutes and I'd be willing to go up for it." Another exclaimed "I don't care so much for my money, but if Idon't follow that Taintor up it 'taint' a bit of my fault.' It was a bad attempt at a joke, but was hugely ap preciated. With the exception of such ex clamations as these the two or three hundred depositors about kept remarkably quiet, mainly engaging in discussing the affairs of the bank and looking at the printed slip, cut from the HERALD, announcing a meeting of the stockholders to take place at three o'clock. The main opinion was, ot course, a very strong prejudice against Taintor, but always equally so against the officers of the bank, who, it seemed to be the general impression, were in the "steal" and knew quite well what was going on. When the hour of ten arrived there was a rush for the doors, which remained closed-that is, at bar of iron had been placed across the doorway and a powerful young man stood on the other side to prevent any entrance being effected. Some of the depositors in the first rush succeeded in get ting past the strong young man; but the main body was kept back, and, spite of the utmost strong language they could use, did not make any breach in the obstructions. A HERALD reporter was carried along with this tide, and of course got in. APPOINTMENT OF A RECEIVER. It was announced about this time that the statement was made by Mr. Meigs, temporary receiver, that he had just got a telegram from Mr. Knox, the Comptroller of the Currency, appointing Mr. George E. Strong, a lawyer of Nassau street, receiver of the bank. Mr. Strong, on being notified, was promptly on hand and took charge of the bank's affairs, being sworn in by the notary of the institution. The HERALD reporter saw Mr. Stron a few moments after he had been installed. This gentleman said that he would go immediately to work to make up a statement of the affairs of the bank, but it would probably be some days before it was ready. In the meantime he put himself to work on it and did not leave the office until late ind the evening. Mr. Meigs, who gave up his authority to Mr Straus, said to the reporter that as far as he was concerned he had done nothing since his Saturday's work to make up the condition of the bank, and that the condition was substantially the same. When Mr. Meigs was asked by the reporter how was that he had p onounced the bank to be in good condition, Mr. Meigs simply answered by showing the reporter the statement of his last examination of the bank, which gives a most perfect prophecy of how affairs since turned out. Mr. Meigs' statement ran as follows:REPORT OF THE BANK EXAMINER. NEW YORK, October 11, 1872. To THE COMPTROLLER OF THE CURRENCY, WASHINGTON, D. C. :ATLANTIC NATIONAL BANK OF NEW YORK. Assets. $565,673 Loans and discounts 105,995 Suspended debt 186,000 Exchanges and cash items 287,900 Legal tenders. National bank bills and gold. 27,000 Liabilities. 300,000 Capital 66,000 Surplus profit Deposits. 730,000 Deposits of Treasurer State of New York (canal 105,000 tolls) The Bank Examiner then goes on, in the course of the report, to make the following important statement; at all events putting himself clean upon the record:THE INSTITUTION INVOLVED LAST OCTOBER. I notice butlittle improvement in the affairs of this ins stitution since the date of my last report of February 8.

10. April 29, 1873 The New York Herald New York, NY
Article from The New York Herald, April 29, 1873

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-which shows that of itself the capital of the bank was very badly impaired, even without any delalcation on the part of the cashier. IN WALL STREET. The failure was the universal topic of conversation in Wall street yesterday, and on 'Change little else was heard of in the private conversations than the names of Taintor and the Atlantic National. The event of the failure has had very contrary effects; in the first place the banks called in many of their loans, and, in the second place, not a few of the brokers and bankers took their deposits out of the banks, all evidently under the fear that at any moment their own deposits might go and meet those ol the unfortunate depositors of the Atlantic Bank. In fact, the affair seemed to have created a feeling of unusual insecurity among moneyed men. One prominent broker said to the reporter, "If a man in a little institution like the Atlantic can steal half a million, what can't a man do in a big bank? for there are unquestionably many of them which are managed in the same manner that this has been." Such sentiments as these, freely expressed, are apt to make people run for their money. MEETING OF THE DEPOSITORS. At three o'clock the meeting of the depositors' advertised in the HERALD took place in the offices. of Abbett & Fuller, 229 Broadway. There were, perhaps, during the meeting, about one hundred and fifty depositors present. and the excitement

11. April 29, 1873 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, April 29, 1873

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WHEELING. W. VA., TUESDAY MORNING, APRIL 29. 1873. NEW YORK CITY. as Justice Miller proposes to sail for Euon FORE BY TELEGRAPH rope Saturday. The Comptroller of Currency has deNEW YORK, April 23.-Postmaster ENGLA clared a dividend of 82 per cent in favor ASSOCIATED PRESS REPORT. James pronounces, without foundation a. of the creditors of the Unadella National the rumors of the defalcation in the acstLONDON, April 28. Bank, of Unadella, New York and also, a counts of Henry W. Whiting, cashier. ht Railway Company's Exclusively to the Intelli gencer. dividend of 25 per cent in favor of the The rumors originated from the fact that he Manchester, together creditors of Scandavian National Bank of while Mr. Whiting is making up his last tives and a hundred st (By the Western Union Line. Chicago, payable as soon as the schedule quarterly account of ex-Postmaster Jones liwere burned last night Office Northwest cor. of Main and Monroe sts) of creditors can be prepared and examinanother was acting cashier. al, The King and Quee There is talk on the streets of a moveed. The Comptroller has also directed of May. the receiver of the Eighth National Bank THE MODOC FARCE. ment to twist those who have gone extenNEW YORK, April es, of New York, to make a requisition of 54 sively short of Pacific Mail. Gould, Stockor papers of the 14th con well and Hatch, are said to have most of per cent upon the shareholders of that The Great Modoc Army (of Three of the fire at No. 26 nthe stock and will not allow the street to bank to supply the defficiency required Dozen) About to Subdívide. re city, whereby one Seh for full payment of the creditors. cover its shorts at present prices. udeath, and an entire 1 A small requisition is also to be made All Summer's Work for the United The depositors of the Atlantic bank ar wards, consisting of si upon the shareholders of the Farmers' States. met this evening to consider the situation. focated. nd & Citizens' National Bank of Brooklyn The United States Marshal has charge of LONDON, April 28.the bank. for the same purpose. The Atlantic The General and Staff Moving on ch say that Becarra and National Bank was examined in the Front." Charles G. Hampton, the alleged Pitts. its Permanent Committee February and October of 1872. The burgh bond robber, was brought up this he SAN FRANCISCO, April 28.-A special ed, and the search for 1 reports of the examiner show that the morning in the Court of Oyer and Termcontinues. he courier arrived at Yreka late last night capital of the bank was seriously impairiner before Judge Brady on a writ of of At a monster meetin from the Lava Bed, and states the opinion ed. The Comptroller of Currency dihabeas corpus. The District Attorney a yesterday, violent spee rected that no further dividends should prevailed at headquarters that the Moconsented that the prisoner should be disey docs will not make another stand, but be declared, and accordingly no divicharged, which being done, the sheriff's FRAN he dends were made during the year 1872. will break up in small parties and must be officers rearroated him on a requisition d Bad debts to the amount of $32,400 were from the Governor, and Lic loft the court hunted by a detail, making an all sumPARIS, April 28.-B in charged off during the same year. The room bound for Pittsburgh. On leaving the Assembly will I 10 mer's work for the cavalry. Jeff. C. Davis defalcation is supposed to have occurred court, Hampton was placed in a coach, change of the ministry and staff reached Yreka this atternoon, from the use of special deposits and colaccompanied by two officers, to be driven The following are 1 be and will proceed immediately to the front. laterals by the cashier. to Col. Whitley's office. This coach had the election in this city or the the IS no BOOROE departed than another arrived

12. April 30, 1873 Juniata Sentinel Mifflintown, PA
Article from Juniata Sentinel, April 30, 1873

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THE Atlantic National Bank of New York has suspended in consequence of the defalcation of the cashier, F. I. Lai nor. He spent $400,000 of the funds eutrusted to his keeping.

13. April 30, 1873 The New York Herald New York, NY
Article from The New York Herald, April 30, 1873

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THE BURST BANK. No Statement Yet from the ReceiverConference with the Depositors' Committee Yesterday-Taintor Indicted by the United States Grand Jury-How Wall Street Feels About the Case. The excitement had greatly died out yesterday about the Atlantic Bank, though the effect was probably never greater than in Wall street yesterday morning, when the most, intense anxiety existed regarding the condition of other banks. During the morning the scene around the bank was about the same as on the day before, though as the day wore on it subsided somewhat. Many of the depositors called around to hear the news and went away without being let in. The orders were as stringent as ever about letting people in. The new receiver, Mr. Strong, arrived at the bank at eight o'clock in the morning, and shut himself up with the clerks. They then began thoroughly in earnest an examination of the boxes containing the securities. The first box taken in hand contained securities amounting to about one hundred thousand dollars. The great majority of these were pronounced good, many of them doubtful, and only a few of them actually bad, perhaps seven thousand dollars' worth. There are four of these boxes containing securities yet to examine. The receiver has employed two of the clerks in the office to help him in making up the accounts. The HERALD reporter had a short interview with Mr. Strong, who said that the EXAMINATION WAS GETTING ON VERY WELL and that things in the bank were quite as bad as reported. There was a tremendous deal of work to do and it was doubtiui if his official statement would DO ready for three or four days. but directly he had it ready it would be given to the press for publication. As the receiver was talking to the HERALD reporter Mr. Southworth came benind the latter and shook his head very urgently at Mr. Strong, as if to say, "Don't tell him anything." The late President also got very angry with a clerk for telling the reporter some news. The corrected list of the losses suffered by the bank (in which an error was inadvertently made in yesterday's HER. ALD) foots up $584,000 in the bulk. The impression gained ground yesterday, eg. pecially among the committee of the depositors, that some of the officers of the bank besides the cashier were concerned in the frauds which have been perpetrated, and this is, no deubt, the reason why the examination which is now going on is kept so remarkably quiet. Several of the committee of the depositors had no hesitation about giving this as their opinion of the manner in which affairs were conducted. During the afternoon the committee called in at the bank to see the receiver. They remained closeted with him and the late paying teller for some time. There was a great deal of loud talking about the fact of the bank receiving deposits on Saturday afternoon after it was known that the bank must suspend. One of the committeemen characterized it as a gross fraud, morally as bad as the crime of which Taintor is accused. The result of the day's work by the committee and the receiver may be summed up as follows:THE LAST STATEMENT OF LIABILITIES. Individual deposits $295,973 55 Bankers' balances 90,192 01 State deposits 30,000 00 9,590 01 Western Union Telegraph Company 1,110 62 Certificates of deposits Total $426,806 24 In the addition of this the committee made a mistake of $100,000, which puzzled them for some time. Taintor was again seen yesterday by some of the depositors, but refused to say anything. Of the $185,000 of the Atlantic Bank's money which was deposited in the Gallatin Bank on Monday $125,000 was taken away by order of the receiver and placed in the Sub-Treasury yesterday. With this a dividend will soon be paid to the depositors. The directors held no meeting yesterday. TAINTOR INDICTED. It is probable that there will be no examination to-day before Commissioner Osborn in the case of Taintor, the cashier of the Atlantic National Bank, as Mr. Bliss, the United States District Attorney, has presented to the Grand Jury an indictment against Taintor, and the indictment has been found. This is a matter that requires the fullest examination. Aside from the action of the District Attorney, whatever it may be, there will probably be the most rigid and searching inquiry into the case.

14. May 1, 1873 The Kenosha Telegraph Kenosha, WI
Article from The Kenosha Telegraph, May 1, 1873

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pected at San Francisco on the morning 897 bus of the 29th. William M Reynolds, for forty years merchant in Poughkeepsie, N. Y., died at that place on the 27th. poitota eds 1a The St. Crispin of New York threaten to strike. traft Delegates representing the trades' unions of the United States met at New York and resolved not to attempt any e foreement of the eight hour system till 1874. Six thieves who for several years past have been committing depredations upon the freight-yards at Quincy, III., wele ar balley rested on Friday. The town of Mariana, Ark, was nearly destroyed by fire Thursday. James A. Ward, pork-packer of Kansas City. and Life and General Insurance Bank, of Memphis, have suspended. Hon. Levi Walker, of Flint, Migh, died at Lansing Saturday morning. Taintor, cashier of the Atlantic Nation al Bank of New York, is a defaulter to the amount of $400 000. Frost at Nushville and in middle Ten. nesce Friday night damaged corn, fruit, and vegetables. Odd Fellows of Little Rock, Ark., cele brated the fifty sixth anniversary by procession and banquet. Carl Sehurz has gone to Europe. The New York state canals will be opened May 16th. Holland hassent fourteen steamers to Sumatra to cooperate with the Dutch troops. London Republicans will persecute the Carlist Committee of that city for aiding Den Carlos in violation of international law A Madrid dispatch says the Carlists have been defeated several times recently, losing one hundred men wounded in one and engagement. Changes in the Spanish Ministry are anticipated soon. Captain-General Vallarde has ordered the inhabitants of county districts in vaded by Carlists to abandon their farms and homes and retire to the cities. M. Barodet, Radical, has b en elected to the French Assembly from the city of Puris. The Emperor of Germany arrived at St. Petersburg on he 27th, and was received with extraordinary honors. The explorer of the Lindon Daily Telegraph has, it 18 announced, made many many important discoveries in Assyria. l'ano TUESDAY. A riot occurred at Keene, N. H 03 Saturday night, and after it was suppressed the chief of police was badly beaten. Arthur M. Arnold, son of Isaac N. Arnold of Chicago, was drowned at Dixon, III.. on Saturday. The walls of a burning building at Iowa City, Iowa, fell burying five persons in the ruins. Dorman B. Eaton will accept the pcsition of member of the Advisory Civil Service Board. The stage between Hamilton and Piosche, Nevada, was robbed Sunday night by men disguised as Indians. A severe storm of wind and hail passed over Little Rock Monday. The steam-boiler in & planing mill at on Monday, dethe building, enmolishing Indianapolis exploded killing ladies ti.e gineer, and fatally injuring two A Mrs. Metcalf and two children were poisoned near Decatur, Ill., by drinking milk in which strychnine had been placed to kill mice Benjamin T. Murphy what never at tended but two years, was the successful competitor in a class of fifteen for the West Point cadetship from the first 7001107 Illinois Congressional District. There are a thousand Chinese engaged in various occupations in S. Louis Federalists held a monster meeting in Madrid sunday. sit tedt add The Lapcashire Railway Company's works in Manchester, with tifty locomo= tives and one hundred and fifty coaches,

15. May 2, 1873 The Fremont Weekly Journal Fremont, OH
Article from The Fremont Weekly Journal, May 2, 1873

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F. L. TAINTOR, Cashier of the Atlantic National Bank, New York has been arrested as a defaulter in the sum of $400.000, which appears to have been lost mainly in Pacific Mail speculations. The bank has suspended temporarily, but it is thought depositors will receive about fifty per cent. of their deposits.

16. May 3, 1873 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, May 3, 1873

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FROM NEW YORK. -New York, 2. The Arcadian club, common council, German democratic liberal committee and other associations passed resolutions expressive of their sense of grief at the death of James Brooks and their sympathy with his bereaved family. The Taminany general committee meet to-morrow evening and the associated press to-morrow afternoon to take appropriate action. Receiver Strong of the Atlantic National bank reports that $304,000 in securities are missing. The liabilities are set down at $1,207,000, assets of which are $304,000. It may be further changed by new developments in the investigation. The grand jury to-day made a presentment on the subject of the suppression of concent saloons, in which they say that excise licenses shield the proprietors and only the own. ers of the premises are liable to criminal prosecution and punishment. It is rumored that a combination has been made in the board of aldermen to defeat all the nominations made by Mayor Havemeyer unsatisfactory to them, three republicans, four Tammany democrats and one Apollo Hall man being the parties. It is also asserted that no provision having been made in the new charter for the retention of Mayor Havemeyer, as in the case of the heads of the departments, he will go out of office with the expiration of the old charter. If the rumor is well founded, alderman Vance, representative of the custom house interest, would be mayor until the election provided by the new charter, viz in '74. The society of coopers in the Manhattan district numbers 1700 members and is said to have a large "strike fund" in the treasury, The organization extends throughout the country, with a total membership of 17,000, and officers of the society say that the present movement has the sanction of all lodges in the United States Notwithstanding this, opinion is expressed that there will be a temporary settlement. Superintendent Kelso has ordered the police to make census of all disreputable houses and characters in the city. Rev. Dr. Joel Parker died in this city this morning aged 74. Arrived, steamers Abisynia and City of Baltimore, Liverpool. Among the passengers by steamers from Liverpool are Gens. Gorham and Fisbu.

17. May 3, 1873 The Ottawa Free Trader Ottawa, IL
Article from The Ottawa Free Trader, May 3, 1873

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The Atlantic National Bank, of New York, has exploded, gone up, played out. Causethe Cashier stole all the money. Said Cashier, one Taintor by name, says he found the bank was running low in business and profits, and so he thought he would enliven up things by some pretty bold stock speculations, in which, however, he was unfortunate, and the bank (not the Cashier!) lost in the last year about half a million of dollars, consisting of the deposits, and a lot of securities placed in the bank for safe keeping." The entire stock of the bank is sunk, and the depositors may get 50 cents on the dollar The defaulting cashier is locked up.

18. May 27, 1873 The Wheeling Daily Register Wheeling, WV
Article from The Wheeling Daily Register, May 27, 1873

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NEW YORK. News Items. NEW YORK, May 26.-The trial of Tweed on fifteen new indictments, which was set for to-day, has been adjourned until to-morrow. An injunction was granted to-day by Judge Blatchford in the case of J.R. Osgood & Co. and Bret Harte against A.P. Leyster et al., restraining the defendants from selling the copyrighted work of Harte reproduced in England and imported by Leyster. A large number of master carpenters held a meeting hisafternoon, but what resulted in their deliberation could not be ascertained. The reported threatened strike of the carpenters of this city proves incorrect or at least premature. Postponed. In the court of General Sessions this morning the cases of several boarding house keepers charged with violations of the revenue shipping law was postponed until next term. George Francis Train. Judge Fancher formally disnissed the writ of habeas corpus in the case of George Francis Train to-day. The investigation commences on Wednesday. TheSharkey Case. A motion was made by ex-Judge Beach for a new trial for Wm.Sharkey for the murder of Dennison was to-day dismissed on account of the absence of a list of cases left over subject to his action. The Atlantic Bank, U.S. Judge Benedict to-day denied the motion of the counsel for Tanitor, Atlantic bank defaulter, to quash the indictment against the prisoner, on the ground that it was defective. The counsel then asked for a postponement of the trial, and presented affidavits reciting that Taintor mentally and physwas ically unfit for trial. The court will decide on the motion for postponement on next Monday. George H. Brown, President of the New York, Boston and Montreal Railroad with & of prominent railroad men on 7 on a tour o'clock left the train party Grand Central Depot of inspection the of the system of the road as operated on. They will be joined at Rutland, VerCentral mont, by road, the directors and will of visit the Vermont various places on the line of that road. Midland Railroad Company. At the meeting of the Directors of the Midland Railroad Company, held to-day, for the purpose of completing their Syndicate Members Board, they were very reticent regarding any changes being made. It is understood that two new directors were chosen, but their names will not be given to the public for a day or two. The office of the Consulate of Japan was at Exchange formally place, opened by Tetnonke here to-day, Tomita, 45 Vice Consul of Japan. The only other representative of the Japanese empire in the United States is Horace Dunne, Acting Consul at San Francieco. Several representatives of foreign Consul= ates in this called to welcome Mr. Tom. ita. The Meeting of the Depositors And creditors of the Atlantic National bank takes place Tuesday afternoon, when the committee appointed at the first meeting will report on the condi= tion of the affairs of the bank. The receiver cannot say when a dividend will be declared, Sentenced. William Roule, charged with highway robbery, was to-day sentenced to twelve years in the State prison. Dr. Edward M. Brown, convicted of to assaulting and attempting this rob morn- Sand= ford Murray, a collector, was ing sentenced to ten years in the State prison.

19. October 2, 1873 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN
Article from Memphis Daily Appeal, October 2, 1873

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BRIEF TELEGRAMS. There was a good attendance at the Northern Ohio fair yesterday at Cleveland. A dividend on the Erie and Lake Shore stocks were being paid in New York yesterday. A fire in the twelfth regiment armory, on Forty-fifth street, New York, yesterday, caused a damage of twenty-five thousand dollars. The first kuklux trial before the North Carolina State courts came off at Raleigh yes terday, resulting in the conviction of the guilty parties. Madrid dispatches report large numbers of Carlists surrendering to the government troops in the province of Lerida, pleading for amnesty. The sittings of the royal commission at Ottawa, Ontario, were declared closed yesterday, and one member of the commission is now engaged in making out the report. Dissensions in the ranks of the Carlists. says a dispatch from Madrid, are increasing, and the leaders-Dorregarray, Roda and Lizzaraga-have left their commands and arrived at Bayonne. The receiver of the Atlantic national bank. of New York, was yesterday paying another dividend of fifteen per cent-making a total of fifty-five per cent that has been realized from the assets of that institution. At the City of Mexico, on the thirteenth ultimo, a farewell banquet was given to ex-United States Minister Nelson. Presideut Lerdo made a speech complimenting Messrs. Nelson and Foster, and praising the government and people of the United States. News has been received at Valparaiso that the steamer Hooper had arrived at Parnambuco with fourteen hundred miles of cable for the line to Jamaica, and it is expected that communication with the United States and Europe by that line will be established in October. Refugees from Marshall, Texas, continue to arrive at Little Rock, Arkansas. They, of course, tell marvelous stories of why they left the city, one of which is that every one that can is leaving Marshall on account of the yellow-fever. The eighth annual fair of the Colorado industrial association opened in Denver Tuesday. The display in all departments will far exceed any previous exhibition, and the city is already full of people from all sections of the Territory and many from Kansas and Missouri, 88 extilbitors or visitors. Information received at Kansas city, Missouri, yesterday, states that Indians lately run off and killed some cattle, and took supplies from the buffalo hunters, causing much excitement among the overland trains and the settlers. A squadron of cavalry, consisting of seventy men, have been sent in that section. A dispatch from Brownsville, Texas, reports continuous heavy rains that have damaged the cotton crop throughout the lower Rio Grande region. Worms have appeared in large number* in the vicinity, doing much harm. The lowlands are covered several inches in water, preventing the gathering of the crop. A dispatch from Brownsville, Texas, says the charge of the Vos Publico, that armed United States soldiers had again invaded Mexico, is untrue. When the steamboat Littie Fleta stranded on the Mexican bank of the Rio Grande, Army Paymaster Nichols was a passenger, with a guard of United States soldiers, who assisted in saving the cargo, and guarded it and the paymaster's ssafe after landIng it from the wreck.

20. March 24, 1874 New-York Tribune New York, NY
Article from New-York Tribune, March 24, 1874

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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.