15543. Bull's Head Bank (New York, NY)

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 2, 1878
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: 2197923d

Response Measures

None

Description

Directors resolved to wind up and suspend business in late Dec 1877/early Jan 1878. Suspension was orderly, deposits being paid in full; bank is being wound up (permanent closure). Cause described as lack of business/voluntary winding up. Dates drawn from contemporaneous reports (notice Jan 1, suspension reported Jan 2/3, 1878).

Events (1)

1. January 2, 1878 Suspension

Cause: Voluntary Liquidation
Cause Details: Directors resolved to wind up the business because the bank was not doing remunerative business; capital impaired and business too small to justify continuance; orderly winding up to pay depositors in full.
Newspaper Excerpt: Business at the Bull's Head Bank ... was suspended yesterday, except the payment of deposits.
Source: newspapers

Newspaper Articles (11)

1. January 1, 1878 The Sun New York, NY

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Head their mutually result of the avenue, secrecy. keep that the important was not until meeting ion of they held on Friday week at. It was only the yesterday an Intimation that yesterday. been done that crept in ant had investigations a notice breath hat led of to even hinted resulting will something post out admissions impor- pro- that but to-morrow the deposits. and will that it will receive no more wind up its business. ceed immediately closed to when a reporter for on THE the The bank was evening. but a few raps it. Beiron SUN applied. door induced last several the watchman clerks were to open busy was with inind the railing By one of them the F. reporter Vail. could not the books. that the cashier. Geo. out of town formed as he expected to turned to be in the found. evening. As the said reporter confidentially. of town. later He go as away. gone the watchman to spend the holidays out only he usually does. proprietor of the the directors Putnam Mr. L. Fourth R. Kerr. avenue is reporter one of asked to see House. bank in yet when the in reference to a seemed rumor him of the for a few the minutes Bull's Head Bank. he ering astonished. concerning what about it?" he asked. after recov- great Isn't Why, from his astonishment. it that is of to and the depositors haven't attended the meetings It interest There may be perhaps. lately the bank will Jan. fus know on But meeting out. Then to be Well.! going strain it to unmake public the intention everything, he Mr three that had months Kerran with the not the board attended to any was regularity. what fligur precise knew to led that the were had disbeen the the tockholders said., have We have Many of and have with that that attalled for money took began out over we when of our had paper. Bothere ment. and business and got Friday week Was that No. eu general -for I did was and the When not throughly g discussed had better windup- voted in favor opinion that taken they every direct nosed to it I thought with the vote was myself. was coming on. and But the of it but good times could were pull through. little that plu we differently ublicon Wednesday?" is that other Is the The will goto Albany Bank Preside think nt it and the cashier matter before to the do every granted. the night and dent. lay is the Then. if notice permission will be thing Superintens on pl Wednesday the beet told that made public reporter said that to he go had out of town last it They OVER then, the The cashier intended will take advantage In fact, believe they cash enough of the How holiday will the get every on penny hand to pay off this. I think there part of them gotting ready for the greater They have been now we are in is a the Yes, that is about it and think have been there the degood condition for to any fright shall do it until any right along. and Mr said Korr the capital impaired The and stockhold- then ers should say might from thirty tle The times few of us could put in is now Bank gr wing Bull's Head amount that The capital the was the original When the the big stock $200,000. bank began business in March 1873 $300,000 more were the falcation came save the out bank put in the limit which thus holders. to the capital allowed. up They on with busibringing charter 10 go for confide the able after they were cripping by little deposits ness. But entirely had formerly a not as large as the a Then Bank half. getting in the bank withdrew great their custom des lifted it the business the to Head Bank the region Buil's city the bad much How side west it with was the bank caught paper but learn WIN large. Finding of capital matter fifty Th at this. This far as the to the pay that the dividend has been along. the and directors But with day only to the one end DOB MI at the about Kerr estimates deposits as in this way the the We $250.00 thing done and the delay bank Joint Bank wound more nt and to but the that ?" irr the any gularities been honestly that 1873. That that was made has the an Nobody thing, the il but was million stand think it been done had several n. Since weather Caso, and others Head like that Bank and a been wide ban do the then Bull's verything has

2. January 1, 1878 Alexandria Gazette Alexandria, VA

Article from Alexandria Gazette, January 1, 1878

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More Failures. CINCINNATI, O., Jan. 1.--A -- special says:The German Savings Bank, Lafayette, Indiana, closed yesterday; liabilities eighty-nine thous and, nominal assets ninety-four thousand. NEW YORK, Jan. 1.-Considerable excite ment and indignation was manifested on the produce exchange yesterday upon the announcement that the firm of Jewell Brothers', proprietors of the Brooklyn City Flour Mills, had made an assignment late on Saturday night to George P. Sheldon. Their liabilities amount between $200,000 and $300,000, besides debts to a half dozen more members of the Exchange amounting to over $100,000. There are small. er amounts which it is said will increase individ ual debts to about $150,000. It is also stated that the equitable Life Insurance Society holds 3 mortgage on the mills for $60,000, and J. M. Fiske & Co., a second mortgage for $90,000. Among the creditors are Jesse Hoyt & Co., $25.000; Patte & Jacoby, $12,000; A. E. Keet & Co., $9,400. The Messrs. Jewell claim that their suspension was due to 2 great number of bad debts contracted since last May-30 ex tensive shrickage of values ; the necessity of purchasing a large quantity of grain from the West to enable them to bridge over this time between the old and DCW crops, and an improvement 00 the property costing $50,000, which is not now available. They hope soon to resuire business. Their increased liabilities are esti. .ted at $125,000. One hundred failures and assignments were reported in this city in December with ag. gregate liabilities of nearly $8,000,000. Eighty nine failures, in which the assets and liatiities have been ascertained. show liabilities at $7. 704,391 and assets at $4,118.777. This is the heaviest record for any month of the year, and is an increase of 25 per cent. in number and 300 per centum in amount over the record for the month of November. The creditors of Thomas Keech, superiotendent of the bureau of repairs and supplies. who was formerly is builder, yesterday elected Henry A. Toptao, assignee. The schedules showed liabilities of $270,000 and DO assets. The largest claims are the following :-W. D. Murphy, $92,383; Andrew D. Smith, $25,400; estate of Charles Gibbons. $15 000 NEW YORK, Jan. 1.-A Montreal special says:-Cameron, McKenzie & Co., a large dry goods house of good standing, are in financial difficulty. The liabilities are about $250,000. NEW YORK, Jan. ..-The Bull's Head Bank will to morrow post a notice that it will receive no more deposits, and will proceed immediately to wind up its business. Lack of business is the cause.

3. January 2, 1878 The New York Herald New York, NY

Article from The New York Herald, January 2, 1878

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# THE BULL'S HEAD BANK. OFFICIAL NOTICE TO THE BANKING DEPARTMENT OF ITS INTENDED DISCONTINUANCE. [BY TELEGRAPH TO THE HERALD.] ALBANY, Jan. 1, 1878. Mr. Lamb, the Superintendent of the Banking Department, to-day received official notice from the directors of the Bull's Head Bank that they intended to discontinue business with the close of the year 1877. The Banking Department has on deposit $5,000 belonging to the Bull's Head Bank, and this money will be released as soon as the directors send a certificate that two-thirds of the shareholders in amount have agreed to the suspension of business. Mr. Lamb says that it has been known for a long time that the bank was not doing a remunerative business, and that it must eventually close. He thinks the concern is able to pay all its debts, and that the depositors will lose nothing.

4. January 3, 1878 New-York Tribune New York, NY

Article from New-York Tribune, January 3, 1878

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CROSING THE BULL'S HEAD BANK. THE DEPOSITORS BEING PAID IN FULL. Business at the Bull's Head Bank, at No. 340 Third-ave., was suspended yesterday, except the payment of deposits. At the hour for opening the bank a small number of depositors had assembled, and their claims were paid in full. There was no excitement. At the hour for closing over 200 depositors had drawn out their money. Many of the more prominent depositors visited Abraham Dowdney, the president of the bank, and expressed their hearty approval of the course which the directors of the bank had followed, at his suggestion. Mr. Dowdney said, yesterday: "When I was chosen president of the Buil's Head Bank, about a year ago, I endeavored at first to conduct the affairs of the bank in such a manner that the stockholders might get a reasonable interest on their investments. But I found that the business was too small to justify such expectations. The bank was subjected to an annual tax of $8,000, and an equal amount of money had to be expended in salaries to clerks. The bank had invested most of its capital in Government bonds, which shrunk in value. Under such circumstances, I believed that the best thing which could be done for the bank was to close it up. Some of the stockholders were unwilling to close the bank, and advised that the business should be continued. in the hope that better times were coming. A majority, however, agreed with me in believing that such a course was neither wise nor honorable, and 8 resolution to suspend was passed on December21. We have enough ready money to pay all of the depositors, and are anxious that all should come forward and get their money at once. This morning the deposits in the bank amounted to nearly $200,000, and over hair that amount has been paid. We shall be obliged to keep the bank open for the settlement of our business for some months yet, antil we can obtain through the courts some claims still due the bank." The Bull's Head Bank is a State institution. organized in 1854, and was at one time largely patronized by cattle dealers. On March 21, 1873, a defalcation occurred by which the bank lost nearly $500,000. The directors at that time made up the deficiency in the stock. The capital of the bank was afterward reduced to $200,000. The bank has no notes in circulation and has done only a discount and deposit business.

5. January 10, 1878 The Milan Exchange Milan, TN

Article from The Milan Exchange, January 10, 1878

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G. W. Gustin and W. H. Dessin, two young lawyers of Macon, Ga., fought a duel with pistols on the 27th. Both missed. George B. Bigelow, a prominent Boston lawyer, is charged with embezzling $40,000 belonging to a trust estate. He has given bail for $60,000. John Bonner & Co., a well known firm of New York brokers, failed on the 21st, with liabilities amounting to some $400,000; no assets. The suspension also brought down the Bankers' and Brokers' Association, with which they had large dealings. The Legislatures of New York and Pennsylvania convened on the 1st. Governor-elect Holliday of Virginia was inaugurated with public ceremonies on the 1st. The old Bull's Head Bank of New York City is to be wound up. Its capital is said to be impaired to the extent of $500,000, but depositors will be paid in full. Marshall Jewell, President of the Charter Oak Life Insurance Company, informs policy holders that unless they consent to the scaling down of their policies 40 per cent. the company must go into bankruptcy. T. S. Lambert, ex-President of the American Popular Life Insurance Company, of New York, convicted of swearing to false reports, has been sentenced to five years at hard labor in the State-prison. The Legislatures of Maine and Maryland convened on the 2d. At Ferndale, Northampton County, Pa., on New Year's night, John Haddock, an unsuccessful suitor for the hand of Miss

6. January 11, 1878 The Jasper Weekly Courier Jasper, IN

Article from The Jasper Weekly Courier, January 11, 1878

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William Muir, Ferdinand Hertog and Joel M. Hayes, all three doing business as brokers, have been arrested in New York, charged with negotiating forged bonds of the City of St. Louis, City of Quincy, III., and Missouri Pacific Railroad. They are believed to be the principals in the largest, most powerful and best organized gang of bond counterfeiters ever formed in this country, and their operations are thoughto have extended throughout nearly all the States. The matter of ferreting them out has been under way for nearly six months, and it is believed the entire number concerned will be ultimately eaptured. It is believed that ten persons lost their lives by the burning of Greenfield & Sons' candy factory, Barelay Street, New York City, on the 20th ult. A shocking double tragedy was enacted at Farmville, Prince Eaward County, Va., on the 27th. Col. William Randolph Berkeley, a well known citizen and lawyer, was seated in his office in conversation with a friend, Mr. Alfred Moth, when a knock was heard at the door. Col. Berkeley arose and opened the door, when he was immediately shot down dead by a pistol ball entering his temple. His assassin was Col. Wm. H. Kennedy, another well known citizen. The latter then stepped inside the office, passing over the dead body of the murdered man, and placing the pistol to his own head, blew out his brains. The cause of the murder and suicide was not known, but it was reported that Kennedy had on previous occasions attempted to take Berkeley's life. Both were men so widely known and generally respected, that the news of the affair caused a most profound sensation throughout the whole State. In Brooklyn, N. Y.. on the 26th, Charles E. Johnson went to the residence of his wife's father, Mr. R. S. Benedict, and asked to see his wife, who, a few days previously, had left her home on account, it is said, of her husband's ill treatment. The wife, with her young babe in her arms, came down to the parior, when her husband demanded the child. The wife refusing to surrender the babe, the husband pulled out a revolver and shot his wife as she was endeavoring to escape from the room, the ball entering her right shoulder and passing out at the breast. The wound was a serious one, but not necessarily fatal. The babe narrowly escaped being struck by the bullet. The parties had only been married a year, and are both members of wealthy and respectable families, the wife being a relative by marriage of the Rev. H. W. Beecher, by whom they were married. The would-be murderer was locked up, his wife making a charge against him of assault with intent to kill. He is only about 20 years of age. Near Barnesville, Md., on the 27th, Lord G. Jamison killed Thomas Warfield in a quarrel. Warfield was paying attention to Jamison's sister. G. A. Bailey, the publisher of the Congressional Globe, died at Deering, Me., on the 26th. Gen. George W. MeCook, of Ohio, was stricken with paralysis while eating a Christmas dinner at the residence of his cousin, Hon. Anson G. Cook, of New York City, and died on the following Friday. The Rockland County National Bank, of Nyack, N. Y., has suspended. G. W. Gustin and W. H. Dessin, two young lawyers of Macon, Ga., fought a duel with pistols on the 27th. Both missed. George B. Bigelow, a prominent Boston lawyer, is charged with embezzling $40,000 belonging to a trust estate. He has given bail for $60,000. John Bonner & Co., a well known firm of New York brokers, failed on the 21st, with liabilities amounting to some $400,000; no assets. The suspension also brought down the Bankers' and Brokers' Association, with which they had large dealings. The Legislatures of New York and Pennsylvania convened on the 1st. Governor-elect Holliday of Virginia was inaugurated with public ceremonies on the 1st. The old Bull's Head Bank of New York City is to be wound up. Its capital is sald to be impaired to the extent of $50,000, but depositors will be paid in full.

7. January 12, 1878 American Citizen Canton, MS

Article from American Citizen, January 12, 1878

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LATE NEWS ITEMS. o The President has issued an order discontinuing the Sioux City Land Office, and directing its business and archives to be transferred to Des Moines, Iowa. There e are now less than 2,000 acres of public lands in Iowa fully subject to disposal by the Government. e The Rockland County National Bank, of Nyack, N. Y., has suspended. The Indians recently attacked a stage t coach in Bassey Canyon, Western Texas, captured the four horses and killed both the driver and Gabe Valdez, the division Superintendent of the stage line. John Bonner & Co., a well known firm of New York brokers, failed on the 21st, with liabilities amounting to some $400,000; no assets. The suspension also brought down the Bankers' and Brokers' Association, with whomthey had large dealings. The Legislatures of New York and Pennsylvania convened on the 1st. A charivari party who were serenading a newly married couple, Mr. and Mrs. Philip Mertz, at Monroeville, Allen County, Ind., the other night, were fired upon with buckshot, several of the party being badly wounded. Jacob Harness was hanged at Clinton, Tenn., on the 29th, for the murder of Isaac White, more LafayThe Ind., German committed has gone Savings into than Bank liquidation, 14 years of ago. ette, but promises to pay all depositors in full. The old Bull's Head Bank of New York City is to be wound up. Its capital is said to be impaired to the extent of $50,000, but depositors will be paid in full. Henry Underwood, said to be one of the Union Pacific train robbers, known as Thomas Nixon, was recently arrested at his home, 72 miles west of Sherman, Texas, and to lodged in jail at Omaha. There appears be some question as to his identity. Marshall Jewell, President of the Charter Oak Life Insurance Company, informs policy holders that unless they consent to the scaling down of their policies 40 per cent. the company must go into bankruptcy. The banking-house of Jacob Bunn, Springfield, III., suspended on the 2d. Liabilities about $900,000, and assets sufficient to pay all debts, it is said, if time is allowed and property not sacrificed. The large amount of unproductive real estate held by the house is said to be largely the cause of their failure. A frightened team backed a wagon, containing Mrs. Morris Goodloe and four children, off the bridge over Obion River, Tenn., on the 2d, resulting in the drowning of the four children. The State Savings Bank of Indianap olis has petitioned, and obtained authority from the Auditor of State to surrender its charter and go into liquidation. The assets are sufficient to cover all liabilities. Twenfive per cent. will be paid to depositors at once, and the balance within six months. The Rollinsford Savings Bank, at Salmon Falls, N.H., has suspended, with $750,000 of deposits. The assets are said to be amply sufficient to payall claims, if time can be had to realize their value. The banking-house of I. N. Thomas, at Des Moines, Iowa, closed on the 3d. Depositors are promised to be paid in full. Virginia experienced an earthquake shock on the 2d. There was a fraternal gathering of Mexicans and Americans at a ball given by the Mexican officers at Matamoras, Mexico, on New Year's night. A large number of officers of both armies were present, and the most cordial feeling was exhibited. Steam-boiler explosions in the United States during 1877 caused directly the death of 131 persons and the maiming of 123 others. At Montpelier, Blackford County, Ind., on the 4th, J. J. McGrew, a merchant, shot and killed Kitter Kreutzner, a farmer. The latter was known as a dangerous chara acter, and the shooting was the result of threatened attack upon McGrew by Kreutzner. p At Wheeling, West Va., on the 3d, Henry a once shot on d wealthy, Daub, himself well known his his citizen, second first wife's grave, after a quarrel with wife, n which it is said she turned him out of the house. A number of Fenian prisoners who to were sentenced to life-long penal servitude to in 1866 have been released on ticket-ofleave. Among these are Color Sergeant p McCarthy, Corporal Chambers and Private O'Brien. The Panama Star and Heraid. has to m further particulars regarding the loss of the teamer Atacama, from Valparaiso to Calfo ao, which went to pieces on a rock near the the on the night e of on board, were Chilian/coast 124 persons only of Nov. 30 30. saved. Out S] The old established banking-house of ce Peddicord and Burrows, Decatur, Ill., susended on the 5th. C g WAR NEWS. W

8. January 17, 1878 The Centre Reporter Centre Hall, PA

Article from The Centre Reporter, January 17, 1878

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NEWS SUMMARY. Eastern and Middle States The Rockland County National Bank of Nyack, N. Y., has suspended payment. The body of Herzberger, the engineer in the New York candy factory, where the recent terrible explosion took place, has been recovored from the ruins. By an explosion in a mine near Wilkesbarre, Pa., seven persons were injured, one mortally. Seventy-five thousand tons of Seranton coal were sold in New York at an advance on previous prices. The trustees of the West Boston Savings Bank voted to close up the institution in the most economical manner possible. After a trial of several days Mayor Ely withdrew the charge of inefficient and capricious enforcement of the laws, made against the police commissioners of New York. George M. Brooks' bank of Lowville, N. Y., has suspended payments, the liabilities being placed at $60,000. At a dinner given to General Banks in Boston Hon. Benjamin F. Butler made a speech, denonuciatory of the President for not upholding Packard and Kellogg in Louisiana. Five buildings were burned in Jamaica, Long Island, and a loss incurred of $12,000; and in Westerly, R. I., several houses were destroyed by fire, the damage being estimated at $80,000. At Boston, Mass., the arrest of George B. Bigelow, a well-known lawyer, took place on the charge of having misappropriated the sum $40,000, which was held in trust by him. The New York Legislature met in Albany and organized, James W. Husted (Republican) being elected speaker of the assembly. John Bonner & Co., well-known stock brokers of New York city, failed. The amount involved by their failure is about $1,000,000, and upon the heels of the financial fall of the firm came the suspension of the New York Bankers' and Brokers' Association, of which Mr. Bonner was president, and all of whose available resources be had utilized. Many bankers and brokers had left securities in the hands of the firm as collateral for loans, and these securities could not be found, as Bonner had fled from the city just before fhe crash. Three more bodies have been recovered from the ruins of the New York candy manufactory. The Pennsylvania Legislature met at Harrisburgh and organized. One hundred failures and assignments were reported in New York in December, the aggregate liabilities of which were nearly $8,000,000. Miss Lizzie Davis, aged nineteen was stabbed and instantly killed in her home in Ferndale, Pa., by John Haddock, aged twenty-one, who then proceeded to his house, & few doors off, and shot himself through the heart. Jealousy is believed to have led to the double tragedy. Thomas 8. Lambert, ex-president of the American Popular Life Insurance Company, of New York, recently found guilty of perjury in swearing to false statements of the company's condition, was sentenced to five years' imprisonment at hard labor in the State prison. A fire at Salem, N. J., destroyed a number of buildings in the business part of the place, doing damage to the extent of about $40,000. Two excise bills and & New York city charter amendment have been introduced in the New York Legislature. At a meeting of the directors of the Bull's Head Bank, of New York, it was resolved to wind up the affairs of the institution. Governor Conner was inaugurated at Augusta, Me., and Governor Rice at Boston, Mass. Four of the former managers of the Charter Oak Life Insurance Company, of Hartford, Conn., have been indicted for conspiring to defraud the policy holders, as alleged in the complaint. The Woburn Five Cent Savings Bank, of Woburn, Mass., has been enjoined from doing futher business : and the Rollinsford Savings Bank, of Salmon Falls, N. H., has given notice that it will pay up depositors as fast as possible and retire from business. A fire in Harrisburg, Pa., destroyed the malt house of B. M. Greider & Co., causing a loss of $70,000, on which there is $55,300 insurance and A fire in Franklin, Pa., burned down Bailey's block, causing a loss estimated at $30, 000, on which there is & partial insurance. Several vessels were wrecked and many lives were lost by a severe storm of wind and snow along the Atlantic coast in the vicinity of Cape

9. January 19, 1878 San Marcos Free Press San Marcos, TX

Article from San Marcos Free Press, January 19, 1878

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ette, Ind., has gone into liquidation, but promises to pay alldepositors in full. The old Bull's Head Bank of New York City is to be wound up. Its capital is said to be impaired to the extent of $50,000, but depositors will be paid in full. Henry Underwood, said to be one of the Union Pacific train robbers, known as Thomas Nixon, was recently arrested at his home, 72 miles west of Sherman, Texas, and lodged in jail at Omaha. There appears to be some question as to his identity. Marshall Jewell, President of the Charter Oak Life Insurance Company, informs policy holders that unless they consent to the scaling down of their policies 40 per cent. the company must go into bankruptcy. The banking-house of Jacob Bunn, Springfield, III., suspended on the 2d. Liabilities about $900,000, and assets sufficient to pay all debts, it is said, if time is allowed and property not sacrificed. The large amount of unproductive real estate held by the house is said to be largely the cause of their failure. A frightened team backed a wagon, containing Mrs. Morris Goodloe and four children, off the bridge over Obion River, Tenn., on the 2d, resulting (in the drowning of the four children. The State Savings Bank of Indianap olis has petitioned and obtained authority from the Auditor of State to surrender its charter and go into liquidation. The assets are sufficient to cover all liabilities. Twenfive per cent. will be paid to depositors at once, and the balance within six months. The Rollinsford Savings Bank, at Salmon Falls, N. H., has suspended, with $750,000 of deposits. The assets are said to be amply sufficient to pay all claims, if time can be had to realize their value. The banking-house of I. N. Thomas, at Des Moines, Iowa, closed on the 3d. Depositors are promised to be paid in full. Virginia experienced an earthquake shock on the 2d. There was a fraternal gathering of Mexicans and Americans at a ball given by the Mexican officers at Matamoras, Mexico, on New Year's night. A large number of officers of both armies were present, and the most cordial feeling was exhibited. Steam-boiler explosions in the United States during 1877 caused directly the death of 131 persons and the maiming of 123 others. At Montpelier, Blackford County, Ind., on the 4th, J. J. McGrew, a merchant, shot and killed Kitter Kreutzner, a farmer. The latter was known as a dangerous character, and the shooting was the result of a threatened attack upon McGrew by Kreutzner. At Wheeling, West Va., on the 3d, Henry Daub, a well known citizen, once wealthy, shot himself on his first wife's grave, after a quarrel with his second wife, in which it is said she turned him out of the house. A number of Fenian prisoners who were sentenced to life-long penal servitude in 1866 have been released on ticket-ofleave. Among these are Color Sergeant McCarthy, Corporal Chambers and Private O'Brien. The Panama Star and Heraid has further particulars regarding the loss of the steamer Ataeama, from Valparaiso to Callao, which went to pieces on a rock near the Chilian coast on the night of Nov. 30. Out of 124 persons on board, only 30 were saved. The old established banking-house of Peddicord and Burrows, Decatur, Ill., suspended on the 5th. The Pottsville (Pa.) Bank suspended on the 7th. This is the fifth banking-house that has suspended there within 18 months. The New Orleans Clearing-house Association have passed a resolution protesting against the passage of the Bland Silver bill.

10. January 23, 1878 The Forest Republican Tionesta, PA

Article from The Forest Republican, January 23, 1878

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SUMMARY OF NEWS. Eastern and Middle States. The suspension of the Rockland County National Bank of Nyack, N. Y., has taken place. The searchers among the ruins of the candy factory in New York, recently blown up, have recovered the body of Herzberger, the engineer. At a large sale of Scranton coal in New York seventy-five thousand tons were sold, bringing higher prices than at a previous sale. Seven men were injured-one fatally-by an explosion in a mine near Wilkesbarre, Pa. After a trial of several days Mayor Ely withdrew the charge of inefficient and capricious enforcement of the laws, made against the police commissioners of New York. George M. Brooks' bank of Lowville, N. Y., has suspended payments, the liabilities being placed at $60,000. At a dinner given to General Banks in Boston Hon. Benjamin F. Butler made a speech, denounciatory of the President for not upholding Packard and Kellogg in Louisiana. Five buildings were burned in Jamaica, Long Island, and a loss incurred of $12,000 and in Westerly, R. I., several houses were destroyed by fire, the damage being estimated at $80,000. At Boston, Mass., the arrest of George B. Bigelow, a well-known lawyer, took place on the charge of having misappropriated the sum of $40,000, which was held in trust by him. The New York Legislature met in Albany and organized, James W. Husted (Republican) being elected speaker of the assembly. John Bonner & Co., well-known stock brokers of New York city. failed. The amount involved by their failure is about $1,000,000, and upon the heels of the financial fall of the firm came the suspension of the New York Bankers' and Brokers Association, of which Mr. Bonner was president, and all of whose available resources he had utilized. Many bankers and brokers had left securities in the hands of the firm as collateral for loans, and these securities could not be found, as Bonner had fled from the city just before the crash. Three more bodies have been recovered from the ruins of the New York candy manufactory. The Pennsylvania Legislature met at Harrisburgh and organized. There were one hundred failures and assignments reported in New York during December, with liabilities amounting to about $8,000,000. John Haddock, aged twenty-one, of Ferndale, Pa., stabbed and instantly killed Miss Lizzie Davis, aged nineteen, in her own home. He then proceeded to his dwelling, a few doors away, and shot himself through the heart. Jealousy is believed to have been the cause of the double tragedy. Dr. Thomas S. Lambert, ex-president of the American Popular Life Insurance Company of New York, convicted of swearing to falsestatements of the company's condition, was sentenced to five years at hard labor in the State prison. The directors of the Bull's Head Bank of institution. New York agreed to wind up the affairs of that A fire destroyed several buildings in the business part of Salem, N. J., causing a heavy loss on account of the scarcity of water and the lack of engines. Total loss, about $40,000. The Rolinsford Savings Bank of Salmon Falls, N. H., has decided to close up business as far as possible, owing to the depression of the times ; and the Woburn (Mass.) Five Cent Savings Bank has been enjoined from receiving further deposits. Four former managers of the Charter Oak Life Insurance Company of Hartford, Conn., have been indicted on the charge of conspiracy in combining to defraud the policy holders. The complaint alleges misappropriation of the assets of the company and other malfeasance in office on the part of the accused. B. M. Greider's malt house in Harrisburg, Pa., was totally destroyed by fire. Loss, $70,000; insurance, $55,300. In Franklin, Pa. Bailey's block was burned, causing a loss of $30,000, on which there is a partial insurance. Governor Rice was inaugurated at Boston, Mass., and Governor Conner at Augusta, Me. A disastrous wind and snow storm off Cape Cod caused many wrecks and a large loss of life. Western and Southern States. Dispatches from various parts of Illinois Iowa, Indiana, Wisconsin and Minnesota stated that an embargo of mud prevailed in those places to such an extent that in the small towns and in the country all commercia transactions of any magnitude were suspended Farmers rarely ventured to town except or horseback, while cattle, hogs, grain and pro duce of all kinds were kept from the market The mud filled every city, town and country road, lane or alley and in Laporte, Ind. six citizens rode through the principal street in a boat drawn by mules, the mud being a foo and a half deep and in a liquid condition. The Real Estate Savings bank, of St. Loui has suspended in accordance with a resolution of the stockholders. The three children of Carl Maas, aged 1°6 spectively one, two and & half and four years were burned to death at their residence Morgan township, Iowa, while the parents wer away husking corn. Upon appl cation of the creditors of the Ar derson, Lebanon and St. Louis railroad, Judg Gresham, at Indianapolis, appointed L. A Millbank receiver of the road. A loss of $15,000 was caused by the destruo tion by fire of six buildings in the busines portion of Napoleon, Ohio. They were insure for $8,700. An immense crowd witnessed the hanging o Jack Harris, at Clinton, Tenn., for the murde of Isaac White in 1863. After his crime Harr escaped capture for over twelve years. The number of lives lost on Western river during the past year-mainly the result of th bursting or explosion of steamboats seventy, and the pecuniary loss is set down a $5,330,000. A convention lasting ten days was held in S Louis by the colored school teachers of Mi souri. The German Savings Bank of Lafayett Ind., has failed. Its liabilities are placed $89,000 and nominal assets at $94,000. While making New Year's calls in Clevelan Ohio, Charles T. Boyer and C. Meitzer, clerl in a clothing store, were thrown from the buggy. Boyer was instantly killed and Meitz was seriously wounded. Colonel F. W. M. Holliday was inaugurate governor of Virginia with much display, th being the first occasion since colonial tim that a governor of Virginia has been inaug rated with such imposing public ceremonies. A frightened team backed a wagon contai ing Mrs. Morris Goodloe and four children o bridge across the Nashvill

11. January 16, 1879 New-York Tribune New York, NY

Article from New-York Tribune, January 16, 1879

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THE STATE BANKS. SUPERINTENDENT LAMB'S REPORT. COMPARATIVE CONDITION OF THE BANKS-THEIR TAXATION-INVESTMENTS AND CIRCULATION. FROM THE REGULAR CORRESPONDENT OF THE TRIBUNE.) ALBANY, Jan. 15.-Superintendent Lamb, of the Banking Department. transmitted to the Legislature to-day his annual report. on the State banks, of which the important parts are included in the following abstract : ABSTRACT OF THE REPORT. The number of banks and banking associations organized under laws of the State, and reporting to the Bank Department on the 30th of September. 1878, was seventy-five. The total number which reported at the close of the previous fiscal year was eighty-one. During the last fiscal year one new banking association, to wit. the New-York State Banking Company. Syracuse, was formed. Seven banking associations were closed during the year, viz.: Brewers and Grocers' Bank. New-York; Bull's Head Bank, New-York; Bank of Caenango, Norwich; Commercial Bank, New-York: Commercial Bank, Rochester; State Bank. Olean : Bank of Wappingers' Falls. Five of these voluntarily closed their business, and two closed as State banks and reorganized as National banks. In compliance with the requirements of chapter 324. Laws of 1874. eleven trust, loan and mortgage companies reported to the Superintendent on June 30, 1878. During the fiscal year one company, the National Trust Company. New-York, failed, and is now in the hands of a receiver. During the same period the Equitable Trust Company, organized under the laws of the State of Connecticut and doing business in this State, and the United States Mortgage Company of New-York, first reported to this Department, as required by chapter 324, Laws of 1874. THE COMPARATIVE CONDITION OF THE BANKS. Below are presented the tabulations of the two quarterly reports of all the reporting banks and banking associations for the dates respectively stated, which were near the close of the last two fiscal years: