15366. Bank of New York (New York, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 14, 1871
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini
Short Digest
10490888

Response Measures

None

Description

Articles describe the Bank of New York as insolvent and under a receiver (Mr. Davis) and reference court-ordered payments during the Fisk/Gould litigation. There is mention of rumors and other banks in trouble but no explicit contemporaneous depositor run. The events point to a suspension/receivership and effective closure; thus classified as suspension_closure. Dates taken from newspaper publications (Dec 14, 1871 and Apr 10, 1872) — the receiver is explicitly mentioned in the 1871 article.

Events (2)

1. December 14, 1871 Receivership
Newspaper Excerpt
The grave rumors respecting the management of the Bank and the fact that the present receiver, Mr. Davis, is an attorney of the Bank, and a creditor to the same of $5,000. ... the Bank of New York, then insolvent, to pay all its assets, amounting to $400,000, to the brokers of Fisk, Gould & Co., and $15,000 to the receiver of his own appointment, leaving other creditors without a cent. (1872 article excerpt referring to the same episode.)
Source
newspapers
2. December 14, 1871 Suspension
Cause
Government Action
Cause Details
A receiver (Mr. Davis) had been appointed; articles describe the bank as insolvent and under receivership following legal action relating to the Fisk & Gould case.
Newspaper Excerpt
The grave rumors respecting the management of the Bank and the fact that the present receiver, Mr. Davis, is an attorney of the Bank, and a creditor to the same of $5,000.
Source
newspapers

Newspaper Articles (2)

Article from New-York Tribune, December 14, 1871

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Article Text

suitation and protection. The call for this meeting sayn, in conclusion: The grave rumors respecting the management of the Bank and the fact that the present receiver. Mr. Davis, is an attorney of the Bank, and a creditor to the sam of $5,000. and therefore is as weft person for the trust, should insare the attendance of every depositor. Ww H. H. CHILDS, No. 73 Maiden-lane. LOCKWOOD & RESENTT. No. 51 Murray-et PKTNR HAGAN, No. 412 Washington-st. OTHER BANKS. A number of other banks were reported to be in trouble. Among them, the Bank of the Commonwealth, corner of Pine and Nussau-ats. ; the Tenth National Bank, corner of Broadway and Loonard-nt., and the Hoboken National Bank in Hoboken. Mr. Camp, manager of the ClearingHouse, when questioned am to the first-mentioned bank, said that he know nothing of the affairs of the bank that warranted any suspicion of its soundness, and he did not believe there was anything amies with it. The rumor with regard to the Tenth National Bank could not be truced, and the President of the National Slice and Leather, which redeeme for the Hoboken Bank, indorsed its soundness.


Article from Alexandria Gazette, April 10, 1872

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Article Text

From New York. New YORK, April 10.-The World says. that ou Friday last a private meeting was held in this city, of young men of the republican party who are opposed to the re-nomination of President Grant that a complete central organization was formed and clubs in some fourteen or fifteen wards established at that time. It is expected that thirty clubs will be thoroughly organized shortly. They do not express their preference for any one person as a candidate for the Presidency. The World also says many of the leading republicans here, among others Marshal O Roberts and A. T. Stewart, are reported to have expressed their intention of attending the Cincinnati Convention. Henry R. Conklin, the fugitive Secretary of the collapsed Market Saving's Bank, was indieted Tuesday for forgery, in that he had used fictitious names for the purpose of abstracting the funds of the bank. Other indictments are to be found against him. There is an unfounded rumor of the indictment of Mr. Van Naine, President of the bank. An officer yesterday went to Washington to procure a demand for the extradition of Conklin from the Canadians to bring him back from Montreal. Conklin's friends say that startling revelations of the frauds may be expected on the trial. A parent has sued the health department for $10.000 damages, for the forced vaccination of his child, charging first, assault upon the child and second the introduction of scrofula into its system. The result of the election in Jersey city yesterday was the choice of 0 Neill, democrat, for Mayor, seven republican Aldermen, and eight republicans to the Board of Education, which give majorities to both those boards, and a republican unajority in the Board of Freeholders. The Japanese Embassy visited Newark yesterday. They return to Washington to-day. The report of the Judiciary Committee of the Bar Association which has been pressing the investigation into the conduct of Judges Barnard and Cardoza say, although no direct pecuniary bribes are expected to be found, still they had traced presents received from successful litigants and political favorites. The pow er to issue injunctions, appoint referees and receivers and make allowances the committee states, has enriched the favorites regardless of damage to other parties. They instance the case of James Fisk against the Union Pacific Railroad which caused a loss of five million dollars to the company, Judge Barnard boasting of the terror the order created. Another was the Black Friday case, wherein Barnard compelled the Bank of New York, then insolvent, to pay all its assets, amounting to $400.000, to the brokers of Fisk, Gould & Co., and $15,000 to the receiver of his own appointment, leaving other creditors without a cent. The justification for this action is that the plaintiffs and bank officers consented to it; but the bank officers say consent was wrung from them and the bank suffered a loss of between $200,000 and $300,000 within forty days. The suit of the English stockholders of Erie against Fisk and Gould, in which John H. Coleman was appointed receiver is another case. Within one hour after this the suit was discontinued. One Robinson, keeper of the Erie Company's cattle yards in Jersy was appointed a receiver in return for a loan of $3,000 which he gave to Judge Barnard in a check of Jay Gould and which Barnard gave to Coleman for some land speculation. Judge Barnard also appointed a manager for a railroad eight hundred miles long, running throuh three Western states, and the result was the loss of $2.000,000, from which the road has never recovered.