15490. Bateman & Co. (New York, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 31, 1890
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini
Short Digest
b7c12a63

Response Measures

None

Description

Multiple contemporaneous newspaper dispatches (Dec 31, 1890) report Bateman & Co., bankers, making an assignment to an assignee (John A. Garver/Carver) and Arthur E. (or O.) Bateman making an individual assignment. This is a formal failure/assignment (suspension leading to closure) rather than a depositor run. Some OCR variants of names: Garver/Carver, Arthur E./O.; Douglass/Douglas Green. Cause based on reports that debtors failed to meet obligations (bad debts).

Events (1)

1. December 31, 1890 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Assignment precipitated by failure of debtors to meet obligations; liabilities and depreciation of assets reported; firm assigned without preference to an assignee (formal failure).
Newspaper Excerpt
Bateman & Co., the wellknown bankers, will make an assignment to-day ... Arthur E. Bateman and Charles E. Coon ... made an assignment this morning to John A. Garver
Source
newspapers

Newspaper Articles (12)

Article from The Morning Call, December 31, 1890

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EMBARRASSED FIRMS. Disappearance of a Toronto Merchant-The North River Bank. TORONTO (Ontario), Dec. 30.-W. C. Murray, merchant tailor, has suddenly left the city. His business affairs are said to be embarrassed. His liabilities are about $30,000. NEW YORK, Dec. 30.-The statement of Receiver Higgins of the North River Bank shows an excess of liabilities over assets of $42,000. The schedule of the assignment of Colbron, Channeey & Co., brokers, show liabilities $200,000, nominal assets $710,000, and actual assets $10,000. The difference between the nominal and actual assets is due to the depreciation in the value of securities and worthless accounts. NEW YORK, Dec. 31.-The Tribune this morning says Bateman & Co., the wellknown bankers, will make an assignment to-day because of the fatiure of debtors to meet obligations. Commodore Bateman will also make an individual assignment. No statement is obtainable yet. Charles E. Coon, ex-Assistant Secretary of the United States Treasury, was one of the members of the firm. He issued a statement to-night to the effect that Commodore Batemen had been very ill for several months past, and recently returned home from Europe to gradually liquidate his business. This has been to a large extent accomplished, and the business of the firm has been gradually contracted. The assignment was precipitated by the failure of people upon whom they relled to meet their obligations. Most of the creditors are substantially secured. The Tribune says the assign ment will surprise Wall street. Douglass Green, who ran away to Europe with Mrs. McCrea, was formerly n member of the firm. LONDON. Dec. 30.-There is a heavy demand for money for the approaching settlement at 4 to 5 per cent.


Article from The Seattle Post-Intelligencer, December 31, 1890

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BIG BANK GOES DOWN. Bateman & Co., of New York, Will Assign Today. CHARLES A. COON A PARTNER. Commodore Bateman Will Individually Assign-Douglas Green, of Snell-McCrea Fame, Was Lately in the Firm. | NEW YORK, Dec. 31.-The Tribune this, Wednesday, morning, says: Bateman & Co., the well-known bankers, will make an assignment today because of the failure of debtors to meet obligations. Commodore Bakeman also makes an individual assignment. No statement is obtainable yet. Charles E. Coon, ex-assistant secretary of the United States treasury, is one of the members of the firm. He issued a statement tonight to the effect that Commodore Bateman had been very ill several months, and recently returned from Europe to gradually liquidate his business. This has been to a large extent accomplished, and the business of the firm has been gradually contracted. The assignment was precipitated by the failure of the people upon whom they relied to meet obligations. Most of the creditors are substantially secured. The Tribune says the asssgnment will be a surprise on Wall street. Douglas Green, who ran away to Europe with Mrs. McCrea, was formerly a member of the firm. Receiver Higgins, of the North River bank, made a statement to the court yesterday, showing that the liabilities exceed the assets by over $420,000. The schedules in the assignment of Colbron, Chancey & Co., brokers, show liabilities of $200,000, nominal assets of $71,000, and actual assets of $100,000. The difference between the actual and nominal assets is due to the depreciation of the value of securities and worthless accounts. TORONTO, Dec. 30.-W. I. Murray, a merchant tailor, has suddenly left the city. His business affairs are said to be embarrassed. His liabilities are about $30,000.


Article from Evening Star, December 31, 1890

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ANNOUNCED ON 'CHANGE. The Failure of Bateman s Co., the New York and Washington Brokers. NEW YORK, Dec. 31.-Arthur E. Bateman and Charles E. Coon, composing the firm of Bateman & Co., bankers at 57 Broadway and 1411 F street, Washington, D. C., made an assignment this morning to John A. Garver, without preferences. Arthur E. Bateman also filed an individual assignment to John A. Garver without preferences. The failure has been formally announced on the stock exchange. LIABILITIES WILL NOT REACH $1,000,000. Lawyer Coxe, the counsel for the suspended firm, said this forenoon that the assignee of Bateman & Co. would have a statement of the firm's condition ready by Friday next. He also stated that the amount of the firm's liabilities had been greatly overestimated and that they would not reach $1,000,000.


Article from Pittsburg Dispatch, December 31, 1890

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NEW YORK BANKERS FAIL. Rateman & Co., a Well-Known Firm, Compelled to Close Their Business. :SPECIAL TELEGRAM TO THE DISPATCH.: NEW YORK, Dec. 30.-The firm of Bateman & Co., bankers and brokers, 57 Broadway, made an assignment to-day to John A. Carver, of Shearman & Sterling. The liabilities and assets are not known, but there is scarcely a doubt that they will run up to pretty good figures.


Article from Wheeling Register, January 1, 1891

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WHEELING, W. VA., THURSDAY MORNING, JANUARY 1, 1891. NOT A SURPRISE. THEY BREAK AWAY. CERTIFICATION. FORGING AHEAD. Suspension of the Banking Firm of BateChief Two Strikes and His Band on the man & Co. War Path. HANG NEW YORK, December 31.-The bankERINTENDENT OF CENSUS PORTER MAKES THE IMPROVEMENTS GOING ON AT CHARLESOMAHA, NEB., December 31.-A ing firm of Bateman & Co., whose susspecial from Rushville, Neb., says: A DEFINITE REPORT, TON, W. VA. pension has been announced, was well "Fears are expressed in the advices known in Wall street. this morning, and have been realized. To Wall street, however, the suspenIt Par Chief Two Strikes and a large body of sion means far less than it would had it It is Only General in Its Nature-He Says The Capital of the State Is Making Greater Headfollowers broke away from the agency H taken place two years ago. The firm That the Apportionment Bill is Two way Than the Metropolis, Wheeling-New during the day and started either for the has not been active in the street since Years Ahead of the Time-Some Schemes Uunder Way and Many are Bad Lands or a point near Rosebud that time, and has not, in fact, figured are in Process of Construction. Interesting Statistics. agency, it is not definitely known with much prominence. which. Word has been sent to the Current gossip has had it that it was commander of the troops at Rosebud to doing very little business for city acCB Special Telegram to the Register. VASHINGTON, D. C., December 31.try to intercept the band. Other defeccounts, and that it was devoting itself entir CHARLESTON, W. Va., December 31.perintendent Porter, of the Census tions are momentarily expected, SO much principally to out-of-town interests. As State has submitted to the Secretary In the general march of improvements so that one well np in authority says a factor in the market it has not been Three with which the entire State has fallen the Interior a report of the operathat by morning does not expect to felt for a long time. gigal of Bureau for the six months in line, the Capital City is not behind. see a single hostile remaining at Pine Commodore Bateman has been one of of m On the subject of the apThe past year has seen wonderful imRidge. That includes now neárly the firm's most picturesque figures for throl representatives in Conprovement. In this city $40,000 has every able bodied Indian except the po half a dozen years, and Mr. Coon has Vell, stret Porter says: I have been spent in paved streets and sewerlice. Some few Cheyennes and Sioux, been highly regarded since he retired decent ally honor to call your Red Cloud and all the lesser chiefs, exage; over two miles of street railfrom his place in Washington, and is a bli to the fact that ways have been constructed; a cept American Horse, had joined their well known among the bankers and snap new electric company has began apportionment of representatives in brethren for the last great fight. The brokers of Wall street. Commodore sepa operations, with over three and a half agress was not delayed a moment by storm still rages and gives every advantBateman was a master's mate in the of te failure of the census office to have miles of wire, and 50 are lights on the age to the Indians, either for fighting or navy, and is a relative of Senator John their circuit, while the water works system returns of the population ready. If escaping to some safe retreat. The end Sherman. On his retiring from the chan and telephone lines have been largely apportionment bill, which has passis not yet. navy he opened an office in Washington, ing extended. In Charleston proper 104 the House of Representatives, should and started business as a banker and THEY FIGHT AGAIN, tionl the Senate and become a law the business houses and wellings have been broker with New York connections. in di constructed, while in the immediate ortionment under the census would With him at that time was associated And the Seventh Cavalry Catches Itvete: suburbs 146 more have been put up, about two years earlier in time than Seven Killed. Col. W. W. Dudley. Commodore Batepara heretofore made." making a total of 250 buildings conman is now suing Col. Dudley for alPINE RIDGE AGENCY, S. D., December inve structed in the year just past in or the subject of farms, homes and leged balances due him, growing out of 31.-The troops and hostiles have had within a mile of Charleston. rtgages, etc., Mr. Porter said: "The dealings at that time. another fight. Among these is the four-story brick accomplished by this division up The other partner at the time was The result was six soldiers killed and factory of the Roy Furniture Co., emmay be briefly stated as follows: Han Douglas Green, a bright young man many wounded. The loss on the Indian ploying about 250 men, several of the of counties in which complete from Vermont, who last spring suddenside is not known. handsomest business houses in the city tracts have been made, 2,775; numP1 ly departed for London with Mrs. McThe Seventh Cavalry had just reached of counties in which abstract is unand many elegant residences, including wari Crea, a Chicago widow, with whom he camp yesterday, after repulsing the atthat of Geo. S. Couch, which cost over 7; total number of counties in dent is still traveling. Mr. Green's wife has tack made ou their supply train-by Two $12,000. United States, 2,782; number of counthe returned to her Vermont home, and as Strike's band, when a courier rushed in While the past year has witnessed in which supplemental work must soon as Commodore Bateman learned of serio with the startling news that the Catholic many improvements the next year done owing to incompleteness of R the episode he demanded Mr. Green's mission building, on Clay creek, where promises to exceed the one just comtractions, 17; number of mortgages withdrawal from the firm. Mr. Green enve there are a number of Catholic priests which abstracts have been made pleted. Already work has been burg seemed to be only too glad to accommoand sisters and hundreds of children, begun on a large number of 15,515. Estimated number of mortfirm date the Commodore. was surrounded by hostiles and had buildings which will be completed for which abstracts are yet to be Commodore Bateman in the last few a res been set on fire. in counties that are not to be rein the spring or summer, while many cati years has made large investments in The cavalrymen, who had scarcely tracted 57,450; number of mortgages others are planned and will be put up beer Washington property, and he now owns any rest for four days, were instantly as soon as the weather permits. The : orded in the United States during a hotel there. He owned the famous in the saddle, and with a couple of foundation is completed for an an Opera 10 years ending December 21, 1889, rolo yacht Meteor, but sold her a year ago Hotehkiss guns, started on a gallop for count and estimated, 8,572,965; House on Capital street, to cost $75,000. is so and bought the schooner yacht Coronet, the mission. They found that the fire Two four story business houses, and one duct on inquiry counties in which then owned by R. B. Bush, who raced was at the day school, one mile this side of three stories have been begun on This estigation is yet to be completed, 36; the yacht across the Atlantic with the of the mission. The Indians, under Virginia street. The foundation for an tano of inquiry counties in which Dauntless, and won hands down. The the command of Little Wound and Two Opera House in the West End has been estigation has been completed, 69; toCommodore has many peculiar qualities. amp Strikes, were found, to the number of put in and will be completed as soon as number of counties computed for He is an exceedingly nervous man and 1,800, about one mile beyond the mispossible. life, 1,353: total number of has suffered from nervous prostration pare sion. The Seventh formed a line and Among the other buildings not yet beand sorted, 886; total number of for nearly two years. He made frequent began the fighting. which was carried gun but which go up within the year, war transferred to result slips, 216. trips in the Meteor along the Atlantic ot by only 300 or 400 Indians are the plants of the Kanawha City Vithin a few months the census office ural coast, and two months ago he returned at a time, while the great mass Alkali Company; a large chair factory, from an extended tour in the Coronet to announce the number of peralwa kept concealed. Gen. Forsythe susto be built by the Roy Furniture Comin the United States living in tem in European waters. Three years ago pected an ambush, and did pany; the Grand Opera House, to be homes and cultivating rented cono he was reported to be worth $2,500,000. not let the hostiles draw him into danbuilt on the corner of Virginia and Sumthe number of occupying their to re His stock transactions at that time were gerous ground. Col. Henry started one mer streets, with eight business houses homes and farms free from debt W important, and it is believed that he hour later than Forsythe, but, owing to and a hotel in connection: the new Capthe number reported as owning brin made a great deal of money because of the exhaustion of his horses, had to ital street Hotel, to be built opposite and farms which are mortgaged. which his belief in the short side of the martravel at a very slow gait. The Seventh Vhile the facts obtained by this inthe Capitol; the Masonic Temple, on ket. free: became surrounded by the redskins, but (11) Capital street four stories high 75 feet will throw now light unon


Article from The Seattle Post-Intelligencer, January 1, 1891

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BUSINESS FAILURES IN 1890. The Largest Since 1884-Bateman & Co., New York, Assign. NEW YORK, Dec. 31.-The business failures occurring throughout the United States for 1890, as reported by Dun, are 10,907 in number, being but twenty-five greater than 1889. The liabilities show a very large increase over 1889, being $189,000,000, as against $148,000,000, an increase of $41,000,000. These are the largest liabilities since 1884, when they amounted to $226,000,000. Bateman & Co., bankers, assigned to John A. Carver this evening without preferences. Arthur O. Bateman also made an individual assignment. The failure has been formally announced on the stock exchange. McGrane Coxe, counsel for the suspended firm, said the liabilities would not reach $1,000,000. A special dispatch from London received today on Wall street says it is rumored that a large demand has been made from the Bank of England for gold for shipment to New York. Germany continues its demand. The bank charges 6 per cent. for loans.


Article from The Salt Lake Herald, January 1, 1891

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Bateman & Co.'s Failure Formally Announced. NEW YORK, Dec. 31.-Bateman & Co. bankers, assigned to John A. Carver this morning without preferences. Arthur 0. Bateman also made an individual assignment. The failure was formally announced on the stock exchange. Macgrane Coxe, counsel for the suspended firm, said the liabilities would not reach $1,000,000.


Article from St. Paul Daily Globe, January 1, 1891

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FEVERED FINANCES, Various Failures Throughout the Country. CHICAGO, Dec. 31.-The Chicago correspondents of Bateman & Co., of New York, who made an assignment to-day are Baldwin & Farnum. of the board of trade. The firm say that they are simply the local correspondents, have no interest in Bateman & Co.'s business, and will lose nothing by the failure. COUNCIL BLUFFS, Io., Dec. 31.-The packing firm of Green & Sons, established for twenty years, made an assignment to-day. Liabilities, $75,000; assets, $62,000. NEW YORK. Dec. 31.-The firm of Bateman & Co., bankers, assigned to John A. Garver this morning without preferences. Arthur O. Bateman also made an individual assignment to Garver. The failure was formally announced on the stock exchange. COUNCIL BLUFFS, Dec. 31.-Thomas Green & Son, pork packers of this city, made an assignment to-day for the benefit of their creditors. Assets, $62,000; liabilities. $75,150. Stringency in the money market and bad business is the cause of the assignment. The failure throws a number of workingmen out of employment. This is the third failure in this city In a week, NEW YORK, Dec. 31.-The firm of Venable & Heyman, dealers in liquors. who assigned to Robert J. Dean, filed schedules to-day showing liabilities, $553,078; nominal assets, $577,015, and actual assets, $294,680. NEW YORK, Dec. 31.-The business failures occurring throughout the United States for the entire year I890, as reported by R. G. Dun & Co., are 10,907 in number, being but 25 greater than 1889, when the number was 10,882. The liabilities show a very large increase over 1889, being$189,000,000, as against $148,000,000, an increase of $41,000,000. These are the largest liabilities since 1884, when they amounted to $226,000,000.


Article from The Kinsley Graphic, January 2, 1891

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ADDITIONAL DISPATCHES. FOUR prisoners tunneled out of the jail at Newport, Ky., while the jailer was on a drunk. EMIN PASHA has had several fights with natives in East Africa. A SERIOUS fire broke out in London on the 30th near Blackfriars bridge. About $2,000,000 worth of property was destroyed. THE Christian natives of Uganda have again defeated the Moslems. SECRETARY WINDOM has re-affirmed the decision that aliens have no right to be employed on American merehant vessels as officers. Even when employed as sailors they may not be given the authority of mate. THE death is announced of Lady Dacres at a very advanced age. She danced at the famous and historical ball at Brussels on the eve of the battle of Waterloo. ALEXANDER KINGLAKE, the historian of the Crimean war, was reported dying. He was 79 years old. THE ship Rappahannock, American, from Hiogo, Japan, has arrived at San Francisco. During the trip from Philadelphia to Hiogo two seamen, John Bauer and Thomas McGee were killed. Herman Granz, another sailor, was also killed on the way from Hiogo to San Francisco. BATEMAN & Co., bankers of New York, have assigned. Bateman was formerly mixed up with some Washington sensations and was a partner with Douglas Green, who mildly astonished the New York "400" by going to Europe with Mrs. McCrea. THE Spanish Cortes has dissolved. Elections for members will be held in February and the new Cortes will open March 2. DENNIS WILLIE BUNKER, a rising New York artist, died suddenly of pneumonia in Boston. He was married only last October. THREE men held up a crowded car on the Chicago & Louisville at Columbus, Ind., recently. The robbers got $200 and escaped. THE Bureau of the American Republics has information that the President of Mexico has approved the bill recently passed by the Mexican Congress admitting corn from the United States free of duty. This is a very large concession as the duty heretofore has been one cent per kilogramme, or about onehalf cent per pound. THE elections bill was again before the Senate on the 30th, Mr. Walcott speaking in opposition and Mr. Hoar in favor. The financial bill was then taken up and debated. The House had & brief resaion and adjourned,


Article from Baxter Springs News, January 3, 1891

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THE EAST. THE miners of the Central Pennsylvania coal regions have served notice on the coal operators demanding a change in the price of mining from 50 cents gross ton to 50 cents net ton, and a new working scale of prices. If the demands are not granted, the men to the number of 15,000 will quit work. MRS. ELLEN GIBBONS, aged 80 years, was burned to death in her home in Saratoga, N. Y. THE Erie railroad depot at Port Jervis, N. Y., was totally destroyed by fire. Loss, $30,000. THE temperature at Lyndonville, Vt., Christmas night was as low as forty degrees below zero. SEVERAL vessels went ashore off Rhode Island during the storm of the 26th. Three seamen were drowned. THE abandoned farms in the State of Maine number 3,310. MRS. JOHN DIEDRICH and her three children perished in a fire at Rochester, N. Y., recently. THE Westinghouse embarrassment at Pittsburgh, Pa., was tided over by bankers advancing the firm $500,000. FIRE destroyed Damon & Steele's big block, on Church street, New Britain, Conn., recently. Loss, $60,000; insurance small. An unknown man and woman were fatally injured by jumping from a third story window. THE road making machine manufacturers are forming a trust at Pittsburgh, Pa. JOHN REED, one of the New York Central strikers, has been found guilty of train wrecking. DENNIS WILLIE BUNKER, a rising New York artist, died suddenly of pneumonia in Boston. He was married only last October. BATEMAN & Co., bankers of New York, have assigned. Bateman was formerly mixed up with some Washington sensations and was a partner of Douglas Green, who mildly astonished the New York "400" by going to Europe with Mrs. McCrea.


Article from Barton County Democrat, January 8, 1891

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MISCELLANEOUS. THE Christian natives of Uganda have again defeated the Moslems. THE ship Rappahannock, American, from Hiogo, Japan, has arrived at San Francisco. During the trip from Philadelphia to Hiogo two seamen, John Bauer and Thomas McGee were killed. Herman Granz, another sailor, was also killed on the way from Hiogo to San Francisco. BATEMAN & Co., bankers of New York, have assigned. Bateman was formerly mixed up with some Washington sensations and was a partner with Douglas Green, who mildly astonished the New York "400" by going to Europe with Mrs. McCrea. DENNIS WILLIE BUNKER, a rising New York artist, died suddenly of pneumonia in Boston. He was married only last October. SECRETARY WINDOM has re-affirmed the decision that aliens have no right to be employed on American merchant vessels as officers. Even when employed as sailors they may not be given the authority of mate. THREE men held up a crowded car on the Chicago & Louisville at Columbus, Ind., recently. The robbers got $200 and escaped. LA GRIPPE is causing many deaths in New Orleans. AT a meeting of the directors, Paul Conrad was elected president of the Lousiana Lottery Company, vice M. A. Dauphin, deceased. AT a meeting of the Pontifical Academy of Archæology, Rome, it was announced that a basilicon in the church of St. Sylvester had been discovered containing the tombs of six persons including that of Sylvester I., who occu pied the Papal chair from 321 to 326. A BANK robbery is reported to have occurred at Albia, Ia. The robbers escaped with their booty.


Article from The Iola Register, January 9, 1891

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THE EAST. THE road making machine manufacturers are forming a trust at Pittsburgh, Pa. DENNIS WILLIE BUNKER, a rising New York artist, died suddenly of pneumonia in Boston. He was married only last October. BATEMAN & Co., bankers of New York, have assigned. Bateman was formerly mixed up with some Washington sensations and was a partner of Douglas Green, who mildly astonished the New York "400" by going to Europe with Mrs. McCrea. THE thermometer was 60 degrees below zero at Clearfield, N. H., on the 31st. A SERIOUS explosion of gas in the Beaver Meadow mine, near Wilkes-barre, Pa., occurred recently. One Polander was killed and two others fatally injured. THE Old Wilkinson & Green yarn mill, Providence, R. I., has been destroyed by fire. Loss, $125,000. THE strike of Hungarian furnace men at the Edgar Thompson steel works, Bradford, Pa., has been attended with serious disturbances. By the premature discharge of a blast near the village of Stafford, N. Y., four men, Andrew Hunt and three Hungarian laborers, were killed and four others received injuries that will probably result fatally. The dangerously injured men were also Hungarians. VICE-PRESIDENT LEVI P. MORTON has sold his summer residence, "Fair Lawn," at Newport, R. I., to Isaac Townsend Barden, of New York. The price paid was about $130,000. ELEVATED trains were in collision at New York on the 2d. One man was badly injured. HON. DANIEL CLARKE, one of the most prominent characters in the political history of New Hampshire, died quite unexpectedly at Manchester. He was 81 years old. THE strikers at the Edgar Thompson works, Braddock, Pa., have been paid off and discharged. THE Monongahela river miners have struck. Ten thousand men are involved. THE Fifth Avenue and Hermann's Theaters, New York, and adjacent buildings were burned on the night of the 2d almost immediately after the performances. Six firemen were reported killed. The damage was at least $500,000.