15571. Central Savings Bank (New York, NY)

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: December 29, 1871
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: ad77de35

Response Measures

None

Description

Central Savings Bank (Sixth Ave & 42nd St) suspended payment Dec 28–29, 1871 after the collapse/suspension of the Ocean National Bank, which held the institution's deposits (~$12,000). A receiver (Isaac T. Smith) was appointed mid‑January 1872 and the bank did not resume operations as a going concern; affairs were wound up under a receiver. No evidence of an independent, antecedent depositor run prior to suspension — the cause was tied to correspondent bank failure.

Events (2)

1. December 29, 1871 Suspension

Cause: Correspondent
Cause Details: The Central had about $12,000 on deposit at the Ocean National Bank which was unable to honor checks after its collapse; lack of access to those funds forced Central to suspend.
Newspaper Excerpt: The Central Savings Bank ... compelled that institution, yesterday, to suspend payment. This suspension, according to the statement of the President, is only temporary
Source: newspapers

2. January 18, 1872 Receivership

Newspaper Excerpt: The Court yesterday appointed Isaac T. Smith receiver of the Central Savings Bank on his filing $15,000 bonds.
Source: newspapers

Newspaper Articles (20)

1. December 28, 1871 New-York Tribune New York, NY

Article from New-York Tribune, December 28, 1871

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BANK AFFAIRS. INVESTIGATION BY THE CONGRESS COMMITTEETHE CENTRAL SAVINGS BANK. The sub-Committee of the Committee on Banking and Currency. consisting of Representatives Worthington C. Smith, Merriam, and Randall, appointed to investigate the bank suspensions in this city, met at the Clearing-House in Wall-st. yesterday morning, to confer with Messrs. Leverich and Tappen, representing the Clearing-House Committee, on the best means of preventing such disasters as have befallen the Ocean, Eighth, and Union Square National banks. Messrs. Leverich and Tappen were of the opinion that the failure of the banks named was attributable to bad banking. They recommended that a proper compensation should be attached to the office of Bank Examiner, and that it should only be filled by men of approved ability and integrity. They further recommend that Bank Examiners should be moved from one center of finance to another. and not allowed to remain in one place, as in the case of Callender. It is understood that the Committee will urge the passage of an act making it a misdemeanor for a Bank Examiner to borrow money. directly or indirectly. from any bank examined by him, and making it a similar offense for any bank officer to lend a Bank Examiner any money even upon the most approved securities. The Committee have investigated the affairs of the Ocean and Union Square National Banks, but will not report until Congress reassembles. Mr. Merriam informed 8 TRIBUNE reporter last evening that nothing had been discovered calculated to throw discredit on the National Banking system. Mr. Smith has been suddenly called away from the city, and the investigations will be conducted by Mr. Merriam. The Central Savings Bank. at Sixthave. and Fortysecond-st., was organized four months ago, and having had $12,000 on deposit in the Ocean National Bank at the time of its suspension, has been unable to meet all the demands which its depositors have made upon it. Several days have elapsed before checks made by depositors have been honored, and considerable Anxiety prevails among them. officers of the bank have stated that the institution has not paid expenses. The rest of the building which the Bank occupies*is a large one, and although the number of depositors IN considerable, yet the aggregate amount of money intrusted to its care is comparatively small. A TRIBUNE reporter was informed yester day by Mr. Davis, Receiver of the Ocean National Bank, that the amount due the Savings Institution will ulti. mately be paid in full. and there is no doubt from the statement of Mr. Peek, President of the Central Bank, that the bank will be able to pay all its depositors.

2. December 29, 1871 New-York Tribune New York, NY

Article from New-York Tribune, December 29, 1871

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ANOTHER BANK FAILURE SUSPENSION OF THE CENTRAL SAVINGS INSTITUTION. The embarrassed condition of the Central Savings Bank-an account of which appeared in yesterday's TRIBUNE-compelled that institution, yesterday. to suspend payment. This suspension, according to the statement of the President, is only temporary, and the bank will not be compelled to wait for a settlement with the Ocean Bank before paying its creditors in full. as on Jan. 1 the interest on mortgages held by the bank will become due. Great surprise is expressed by persons familiar with the condition of the bank. that the officers and trustees have not advanced the amount necessary to carry the bank along. as they are persons of wealth. and iaccording to their own statement, and that of Receiver Davis, would have suffered no loss from such a proceeding. For the past two weeks the bank has given evidence of great weakness. Sums as small as $250 have with difficulty and much delay been obtained by depositors, and in one case a poor mechanic was compelled to wait three days before a demand for $25 was honored. Meanwhile the bank received deposits as usual, and in many cases prevailed upon auxious depositors to withdraw their demands for funds by promising them that, in a short time, they would be able to pay them the amounts. if they would not urge their claims. A depositor who had been put off, from time to time, urged payment. yesterday, and finally made application in legal form, after his check had been returned to him protested, whereupon the officers announced that the bank "had suspended for a few days. A TRIBUNE reporter had an interview last night with an officer of the bank, who reiterated the statement of the President in regard to the ability of the bank to pay its indebtedness after Jan. 1, and said that he understood that a motion would be made to-day in the Supreme Court to appoint a receiver. which action would probably result in winding up the affairs of the bank. He said that in any event it would be useless to resume after once suspending, as in the present state of public feeling with regard to banking institutions, no bank can possibly survive a suspension. Most of the depositore are poor men, who have saved the amounts deposited in the bank . by depriving themselves of many necessaries of life, and when they beard yesterday of the suspension they collected in groups around the bank and remained, discussing the matter of their probable losses, until long after dark. There appears to be no doubt that the institution will ultimately pay all its indebtedness.

3. December 29, 1871 The Daily State Journal Richmond, Alexandria, VA

Article from The Daily State Journal, December 29, 1871

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LATEST NEWS. FROM NEW YORK. Mayor Hall to be Indicted-General Items The Whereabouts of Tweed. New York, Dec. 28.-The Broadway bank received a worthless check for $20,000 yesterday, and a Newark bank was victimized in the same amount by the same person. The Times says that O'Conor opposes the indictment of Mayor Hall. It is stated that Captain Murray, of the schooner "General Torbet," was drowned off Cape Hatteras. The steamer "Cuba" was ashore yesterday, but she floated this morning and is off for Liverpool. The Centeral Savings Bank, on Sixth avenue and Forty-second streets, has suspended. Michael J. Murphy, a postoffice clerk, is held in $3,000 bail on the charge of cmbezzlement. One hundred and eight cases of measles are reported during the past week. Jas. H. Hackett, the actor, reported ill yesterday, is dead. The officers have, as yet, been unsuccessful in finding any traces of Tweed. Judge Leonard has dissolved the injunction against the sale of Tweed's property. LATER.--Tweed's whereabouts are known and have been all the time. He never left the city, nor has he had such intention. The jnstification of his bondsmen is progressing. The sheriff and his attaches express the opinion that his bail will be entirely settled to-morrow.

4. December 29, 1871 The Charleston Daily News Charleston, SC

Article from The Charleston Daily News, December 29, 1871

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THINGS IN NEW YORK. NEW YORK, December 28. Tweed's whereabouts is known to the sheriff; he has never left the city, and has no such intention. The justification of his bondsmen is progressing. The sheriff's attaches express the opinion that the bail will be entirely settled to-morrow. The Times says O'Conor opposes the indictment of Mayor Hall. The Central Savings Bank on Sixth avenue and Forty-second street has suspended. Michael O. Murphy, a postoffice clerk. has been held in three thousand dollars ball for embezzlement. The Broadway Bank has received twentythousand dollars in a worthless check. At Newark a bank was victimized for the same amount by the same person. There were one hundred and eight cases of measles last week. James H. Hackett, the actor, is dead.

5. December 29, 1871 Daily Kennebec Journal Augusta, ME

Article from Daily Kennebec Journal, December 29, 1871

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BY TELEGRAPH TO THEDaily Kennebec Journal. News from New York. New York, 28. The whereabouts of Tweed is said to be constantly known to the sheriff. He has never left the city and has no such intention. It is said that he has been at the office of the public works this forenoon, where he had an interview with several friends. Justice Scott says he saw him this afternoon in a comfortable place in the city. The justification of his bondsmen was continued to-day, and Messrs. E. P. Fairchild and C. G. Cornell were accepted. The sheriff's attaches express the belief that the sureties will be entirely settled to-morrow. It is stated that each signer of the bail bond is responsible for the whole amount a fact which doubt less, caused the withdrawal of Terence, Farley and others. The Central Savings Bank on 6th avenue and 42d street. has suspended-its officers say for a day or two only. The bank has been organized only four months, and having $12,000 deposited. The Ocean Bank has been unable to honor all checks. The aggregate of the deposits is not large, though the depositors are numerous.* The officers say the bank will pay all obligations, and the trouble will probably cease after the 1st of January. A motion for discharge was made to-day before U. S. Commissioner Osborne in the case of bank examiner Callender, and was opposed by the District Attorney. Decision reserved. Michael Murphy a post office clerk, was to-day held in $3000 bail on the charge of embezzling two letters. The New York Fire and Life Insurance Companies to-day presented a testimonial to the superintendent of insurance, George W. Miller, signed by 171 of the leading fire and life insurance companies. The testimonial endorsed Mr. Miller fully as to his ability, the value of his public services, and his uprightness and integrity as an officer and a man. Judge Barnard to-day issued a peremptory order for the discharge of Hemlett one of the Ludlow street jail prisoners, but granted a stay of ten days to permit the sheriff to bring the question of jurisdiction before the general term. A decision in this case will be the test as to others. A resolution granting permission to place tubes uuder the streets for carrying persons and merchandise was offered in the board of assistant aldermen to-day and referred to the law department. Gen. John Cosherane took oath before Judge Cardozo as a member of the newly chosen board of aldermen. The Board of Appeals of the national trotting congress considered several cases today, including that of Col. Moulton of Mystie Park. Maj. Benj. F. Chamberlain died in Newark Tuesday evening. The persons arrested as swindlers by the watch trick seem to have victimized over one hundred individuals. Twenty affidavits have already been made against them for amounts ranging from $70 to $350. They were committed for trial in the default of a heavy bail. Seventy-two cases of small pox have been reported in Brooklyn during the week. The schooner Justice from Millston Point got off the rocks and beached at Astoria. The Jersey City authorities are in an uncomfortable position by the unexpected action of the managers of the First National Bank, who claimed that the city owed them $425.000, and have paid themselves by transferring to their own account $382,000, deposited to the credit of the city. This action is all the more disagreeable from the fact that warrants to the amount of $100,000 were dishonored. The officers of the bank say they were compelled to act thus by the city authorities, paying the claims of the Hudson County Bank to the exclusion of those of the First National.

6. December 29, 1871 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, December 29, 1871

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NEW YORK. ABOUT AND WHEREABOUTS OF TWEED. NEW YORK, Dec. 28.-The whereabouts of Tweed is said to be constantly known by the sheriff. He has never left the city and has no such intention. It is said that he has been at the office of public works this morning where he had an interview with several friends. Justice Scott says he saw him this morning in a comfortable place in the city. The justification of his bondsmen was continued to-day and Messrs. B. P. Fairchild and C.G. Cornell were accepted. The sheriff's attaches express the belief that the sureties will be entirely settled to-morrow. It is stated that each signer of the bail bond is responsible for the whole amount, a fact which doubtless caused the withdrawal of Terrence Farley and others. SUSPENSION OF ANOTHER SAVINGS BANK. The Central Savings Bank, on Sixth Avenue and Forty-second street, has suspended, its officers say, for a few days only. "The bank has been organized only four months and having only $12,000 deposited. THE OCEAN BANK. The Ocean Bank has been unable to honor all checks. The aggregate of the deposits are not large though the depositors are numerous. The officers say the bank will pay all obligations and the trouble will probably cease after the first of January. CRIMINAL. A motion for discharge was made to-day before U. S. Commissioner Osborne in the case of Bank examiner Collender, and was opposed by the District Attorney. Decision reserved. Michael J. Murphy, a postoffice clerk, was to-day held in $3000 bail on a charge of embezzling two letters. VARIOUS MATTERS. The New York Fire and Life Insurance Companies presented to-day a testimonial to the Superintendent of Insurance, Geo. W. Miller, signed by 171 of the leading fire and life insurance officers. A resolution granting permission to place tubes under the streets for carrying persons and merchandize was offered in the Board of Assistant Aldermen to-day and referred to the law department. Gen. John Cochrane took the oath before Judge Cardozo as a member of the newly chosen board of aldermen. THE WATCH TRICK. The persons arrested as swindlers by the watch trick seem to have victimized one hundred individuals. Twenty affidavits have already been made against them for amounts arranging from $70 to $350. They were committed for trial in default of heavy bail. SMALL POX. Seventy-two cases of small-pox have been reported in Brooklyn during the week. Charles R. Burroughs of Patterson, N. J., was found dead Wednesday by a sheriff who went to serve an attachment on him. He committed suicide by poison the 10th of December, and the body remained frozen stiff till found in his room. Alexis left Cleveland Thursday evening for Detroit. The steam frigate Chattanooga, lying in the channel at League Island sprung aleak and sunk. It is supposed that she was cut through by the ice. The new bark Hibernian, deal laden, from St. John for England, was picked up adrift and towed into Pulnico, N. S. There are no tidings of the crew. The gale Saturday night did great damage in Schoharie Co., N. Y., to fences and timber. A Japanese mission of five dignitaries left Japan for the United States the 23d of December, to consult our government relative to the revision of the treaty. Minister DeLong leaves the same time on the same mission. POLITICAL RUMORS. A large assemblage of newly elected members of the Senate and Legislatisre met at Fifth Avenue Hotel to-night. The time was chiefly spent in discussing the events of the coming legislature. It was stated that Gov. Alvord would be elected Speaker of the House; also, that Gen. Sickles is going to Albany to take preliminary steps to secure his nomination for the U.S. Senate in place of Conkling. ERIE DIVIDENDS. The Directors of the Erie Railroad Co. have declared a dividend of 31 per cent on preferred stock payable February 1st. CHANCE FOR REFORM. At the Republican primaries in Brooklyn tonight, Jacob Worth and Edward Farrier, re1 cently convicted for interfering with an inspecb tor of election, were elected from the Sixteenth Ward delegates to the general commission. THE RING RECORD. s There is no positive news of Tweed's whereaI bouts. Jarvis, clerk of arrests, cannot be found and it is rumored that he has Tweed under arsomewhere. ) Connoll'y suretios have been accepted by the sheriff. If he shouldbe released he would be e arrested again on indictments. He is still in f jail.

7. December 29, 1871 The Daily Dispatch Richmond, VA

Article from The Daily Dispatch, December 29, 1871

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GENERA AL ITEMS. NEW YORK, December 28.-The Broadway Bank received a worthless check for $20,000 yesterday, and a Newark bank was victimized in the same amount by the same person. The weather is clear and cold this morning, with wind from the northwest. The Times says that O'Conor opposes the indictment of Mayor Hall. It is stated that Captain Murray, of the schooner General Torbet, was drowned off Hatteras. The steamer Cuba was ashore yesterday, but she floated this morning, and is off for Liverpool, The Central Savings Bank, on Sixth avenue and Forty-second street, has suspended. Michael J. Murphy, a post-oflice clerk, is held in $3,000 bail on the charge of embezzlement. One hundredand eight cases of measles were reported during the past week. James H. Hackett, the actor, reported ill yesterday, is dead. The sheriff found Charles R. Burroughs, for whom he had a warrant, dead in his house, he having committed suicide. The body was frozen still when found.

8. December 30, 1871 The New York Herald New York, NY

Article from The New York Herald, December 30, 1871

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ANOTHER BROKEN BANK, Another Consequence of the Ocean Bank Failure-The Central Savings Bank Suspended. The Legislature of 1870 granted a charter to certain gentlemen for the establishment of a savings bank at Forty-second street and Sixth avenue, under the title of the Central Savings Bank. owing to some difficulties the bank did not go into operation until a year ago last June, when Charles Peck, formerly President of the Mechanics' and Traders' Bank, located in the Bowery, was chosen President, and other officers elected. They at once commenged business, and have had a fair measure of success, the name of Mr. reck giving confidence to the institution. The depositors were numerous, but the amounts were small, aggregating about fourteen thousand dollars. The Central kept oln deposit at the Sixth National a small amount, against which they drew as occasion demanded, the balance of the deposits being placed in the Ocean Bank until such time as the trustees saw a good opportunity to invest it in proper securities. When the Ocean Bank collapsed they had on deposit $12,000, and owed depositors about $14,000. Since then they have secured $3,000 accommodation from another bank, and commenced paying off depositors-a work that was continued until Thursday, when, running short of funds, they were compelled to suspend payment. Mr. Cnaries Blondell, the Secretary, from whom the above facts are gleaned, reports that the indebtedness of the institution to depositors 18 $12,000. To meet this they have office furniture valued at $5,000, three notes of hand aggregating $1,400, and the $12,000 locked up in the Ocean Bank. He is gune sanguine of the ability of the institution to pay dollar for dollar so soon as it realizes from the Ocean Bank; but it IS believed the officers will be compelled to take advantage or the sixty days' grace allowed by law. He reports the depositors not at all alarmed, and that they are satisfied that in time they will get all due them, without the intervention of a receiver, who would cause delay in winding up its affairs. The present officers of institution are Charles Peck, President; John H. Wilcox, Vice President: Charles Blondell, Secretary; Leonard Hazletine, Cullen Ward, Joel W. Mason, James R. Marvin. Thomas E. Tripler, Charles Peok, Joseph M. Stuart, John H. Wilcox, John E. Hazelton, Charles Biondeil, John Farrell, Z. M. Quimby and E. B. Kenney, Trustees. The secretary reports that within a week they have reduced the deposits by $3,000, leaving their present indebtedness to depositors $12,000. The friends of the institution express great sympathy with Mr. Peck, the President, who, It IS said, by careful management, buit up the Mechanics' and Traders' Bank to its present prosperous condition, when he was ousted by a combination, who had profited by his Irugal management, by a majority of one vote on the election for President. Mr. Peck then directed all his energies to make this new institution a success, and was working without salary, when the collapse of the Ocean Bank settled the fate of his infant bank, that promised to become a large institution. The Eighth National Bank-A Lively Meeting of Depositors. A meeting of depositors of the above defunct bank was held last evening at the Sinclair House in obedience to the call of a number of well known citizens. Five minutes before the hour at which the meeting was called a stockholder (as drunk as he could well be) called 1or the expulsion of all the reporters of the press. Dr. Humphries, one of the stockholders, was called to the chair, and by a unanimous vote the seven reporters present were requested to remain. The drunken stockholder then demanded that each reporter should prove his connection with his journal. The depositors then hooted him, and he was the only one present who voted aye. The Chairman onally secured order after one or the drunken depositors had been quieted, and a meeting that at its inception promised to end in a light resulted in the appointment of the following gentlemen (depositors) as a committee to confer with a similar committee to be appointed by the bank officers-the joint committee to examine the bank's condition and report:-Archibaid Johnston, J. H. Stevenson. Dr. B. C. Berry, George W. Elder, detective Central Police Office, and Augustus Douvalle, Jr. Mr. JOHNSTON, as chairman of the committee, announced that it would meet and organize at the Sinclair House, at eleven o'clock to-day. The meeting then adjourned, subject to the call of Mr. Johnston, chairman of the committee.

9. January 4, 1872 The Manitowoc Tribune Manitowoc, WI

Article from The Manitowoc Tribune, January 4, 1872

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his bondsmen, and is hiding from the offi errs of the law. The United States frigate Chattanooga has been stunk in the Deleware riyer. Six persons were burned to death at Floris, Iowa. Several persons of the South Carolina Ku Klux have been sentenced. Sames H. Hackett, the actor, died at Jamaica, L. I. The Central Savings Bank suspended payment in New York. Rufus Ripley, a bank clerk, commited suicide while temporarily insane. The President has appointed the late Civil service Commission as the Advisory Board under the new regulations. One man was killed and several injured by a boiler explosion in Baltimore. The shoemakers of Natick are on a strike. Warrants have been issued for the arrest of Fisk and Gould on charges of false imprisonment, Wm. M. Tweed having secured new bail, left his hiding place and surrendered himself to the Sheriff. Geo. M. Van Nort has been appointed Commissioner of Public Works, vice Win M. Tweed resigned. The Tammany Hall committee passed resolutions condemning corruption. The steamship Florida has foundered in the Gulf of Mexico, but no lives were lost. Two servant girls have been burned to death at Wheatland, Penn.

10. January 5, 1872 The Fremont Weekly Journal Fremont, OH

Article from The Fremont Weekly Journal, January 5, 1872

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Tweed has resigned his position as one of the directors of the Erie Railway. Fifteen thousand public shools have recently been organized in Russia. The Soldiers' Home, at Knightstown, Ind., was burned on Christmas morning. On the 27th ult., the Treasurer commenced the payment of interest due Jan. 1st. Admiral Poto, of the Spanish Pacific fleet, has been appointed minister at Washington. It is thought that Philadelphia will be chosen as the place for holding the next Republican National Convention. The Ohio Dairymen's Association will hold its eight annual convention at Wellington on the 24th and 25th of January. Four persons were burned to death, by a fire in Detroit, on the 30th. The fire occurred in the drug store of Frederick Sterns. The Central Savings Bank, of New York, has suspended. It was a short lived affair, and had only been in operation a few months. In a saloon in, at East Arlington, Vt., on Christmas day, during a fight, the saloon keeper shot five persons, two of whom died. A rowdy named McManaway.while making an attack upon persons in a house near Cambridge, on the night of the 23d, was shot through the heart. A National Bank, with a capital of $50,000, with privilege or increasto $300,000, was organized at Napoleon, Henry county, the 22d of December. The ship Pyce, while laying at South End, on the Thames, with a cargo of 2,200 barrels turpentine, from Wilmington. was burned. on

11. January 10, 1872 Watertown Republican Watertown, WI

Article from Watertown Republican, January 10, 1872

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THENEWS. At Home: JAMES H. HACKETT, the veteran actor, died at his residence in Jamaica, L. I., Wednesday evening, aged 72 years. THE Central Savings Bank. in New York city, has suspended, its officers say for a few days only. The bank has been organized only four months, and had $12,000 deposited. WM. BROWN, one of the counterfeiters who escaped from Ludlow street jail, New York, some weeks ago, was re-arrested at Freeport, Illinois. THE engine and machine works of Hugh H. Bole & Co., at Duquesne, near Pittsburg, were totally burned Thursday evening. Loss estimated at $50,000; insurance not ascertained. THE upperportion of New York city was deprived of gas on Sunday by the explosion of the purifying house of the Metropolitan Gas Company's Works on Forty-Second street. The building was demolished. Fortunately no one received serious injuries. THE examination of the Robinson murder ers at Salt Lake City has resulted in the committal of three of the persons under arrest, Hampton, Jolls and Blithe, and the discharge of the rest. THE Philadelphia health officer reports 228 death from small-pox last week, a slight inthe previous week.

12. January 12, 1872 The New York Herald New York, NY

Article from The New York Herald, January 12, 1872

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SUPREME COUTT-CHAMBERS. Removal by the Deck Commissioners of Sheds from North River Piers. Before Judge Barrett. Cohen vs. The Mayor, &c.-This is one of five suits growing out of an attempt by the Dock Commissioners to remove sheds from piers on the North River. The Commissioners claim that they were only carrying out the provisions of the Legislative act, but as they were endeavoring to exercise this power they were stopped by an injunction. The argument as to vacating or continuing this injunetion was to nave been heard yesterday, but. owing to the absence of counsel, through sickness, was postponed. The Central Savings Bank. Valentine Spies VS. The Central Savings Bank.It will be remembered that an injunction was obtained the other day restraining the defendants from further carrying on banking business. An application was made vesterday for the appointment of a receiver. but decision upon the application was postponed for a week. Meantime the Court granted an order prombiting the Ocean National Bank from paying $12,000 or any sum in its possession claimed by the Central Savings Bank. Decisions. Gallatin National Bank of New York vs. Wolff et al.-Motion granted. Order to be settled on notice. Cech vs. Goodrich.-Motion to amend su mmons and complaint granted. Judgment for plaintif. Justh vs. Justh et -Motion denied. Waaser et al vs. Rogers et al.-Motion denied, with $10 costs. Coleman vs. Hunt.-Motion - granted. Attachment to be bailable in $500. By Judge Brady. Ayres et al. vs. Chittenden et al. - -Motion denied. Fuller et al. vs. Fuller et al.-Order settled. By Judge Cardozo. Shaw vs. Duncan. - -Motion dented, without costs.

13. January 19, 1872 The New York Herald New York, NY

Article from The New York Herald, January 19, 1872

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such property have continued and been enjoyed by the plaintiffs and those under whom they claim title since the 14th day of December, 1807, adversely to the corporation and to all other parties; and that the cases were proper cases for the interposition of the equity powers of the Court. Mr. John E. Parsons, representing Messrs. Stacom & Cohen, owners of buildings on the bulkhead ad- joining the Hoboken ferry, and Mr. Coffee, owner of a barge stationed, here followed in a like pro- longed and cogent argument for his clients. He claimed that the Legislature had no authority to confer on the Dock Commissioners the power they claim to exercise over the property of these parties. He cited a suit brought against the city by Milwaukee and carried to the United States Supreme Court and there decided in favor of the plaintiffs, which, he claimed, embodied precisely similar features to the present case. He urged further that his clients were sought to be deprived of vested rights under the ordinances of the Corporation, that the Dock Commissioners was a subordinate department, and that the act creating them gave them no power to destroy buildings Mr. A. R. Lawrence, Jr., appearing for Messrs. Peck & Wardell, occupying the bulkhead at the foot of Spring street, just entered on his argument when the Court adjourned. He will finish his argument this morning, after which he will be followed by Mr. Richard O'Gorman, Corporation Counsel, and Messrs. Henry H. Anderson and Calvin, represent- ing the Dock Commissioners. # Receiver of the Central Savings Bank. The Court yesterday appointed Isaac T. Smith receiver of the Central Savings Bank on his filing $15,000 bonds.

14. January 19, 1872 The Wheeling Daily Intelligencer Wheeling, WV

Article from The Wheeling Daily Intelligencer, January 19, 1872

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n NEW YORK CITY. NEW YORK, January 17.-Reports of t the increase of small-pox in this city begin to excite alarm. The number of cases S has increased in the past week from 58 to 83. The disease seems be confined to no one section. Vaccination is rapidly progressing, but among the lower classes of Germans, who object to vaccination, the contagion is making the most marked ravages. A subscription was set on foot yesterday i. among the crowd gathered to witness the t unveiling of the Franklin statue for the purpose of procuring it statue of Horace Greeley, to be erected opposite the statue of Franklin, at the other end of the square. Six thousand subscribed to the list, com prising among others the names of C.A. Dana, Mayor Hall, Henry Ward Beecher, If Wm. Orton and Samuel Courtney. I Gen. Henry A. Bhrnum, who was yest terday elected to the command of the New i York department of the Grand Army of the Republic, is said to be an adherent to the Fenton party. The Womens' Missionary Society, for t the conversion of heathens. held its an nual meeting yesterday. The address says the Society wants means for its proper maintenance During the year live l missionaries, sixty Bible readers, and eighty children have been supported in furtherance of their labors among the heathens. At the ice boat race yesterday, on the Hudson river, one craft sailed nine miles in eight minutes, and two others going a mile in a minute. A great crowd were. at the Court of Oyer and Terminer this morning, to witness the arrignment of Stokes for the murder of James Fisk, Jr. Stokes was brought to the Court in a close carriage and arraigned. His counsel asked for a postponement as they and not seen theindictment yet. The case was then adjourned until Wednesday next. Mr. Catacazy sails for Europe on Saturday. A public meeting will be held in Steinway Hall on the evening of the 26th to hear it statement from Dr. Wines of the progress of his mission for the organization of an International Prison Congress. Addresses are expected from Gov. Hotfman, ex-Gov. Seymour, Archbishop McClosky, and Representatives Banks, Garfield and Kerr. Letters will be read from the President, Vice President, Mr. Seward, Senators Summer, Casserly, Norton, Trumbull and others, Isanc T. Smith was appointed Receiver at the Central Savings Bank. The run on the Third Avenue Savings Bank continues but is declining. About $20,000 000 have been paid out. The appearance of Eldridge T. Grey as one of the counsel in the Stokes case, indicates that the theory of defence requires much elaboration of details. It is said the pressure of freight occasioned by the railroad blockade has compelled the Pacific Mail Co. to charter another steamer to go to Aspinwall on the 25th. There is great excitement at Fordham College over the two attempts to assassinate a student named Rencit, of Saint Louis, by an unknown person. Two hundred and forty thousand dollars worth of Brooklyn Park bonds sold to-day at $1012,112.03 with interest. The resident agent of the Liverpool & London Insurance Co., states that the allegations made in Delmar's paper, regarding the company which he represents, are utterly untrue.

15. January 19, 1872 Daily Kennebec Journal Augusta, ME

Article from Daily Kennebec Journal, January 19, 1872

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News from New York. New York, 18. A public meeting will be held in Steinway Hall on the evening of the twenty-sixth inst., to hear the statement from Dr. Wines of the progress of his mission for the organization of an international prison congress. Addresses are expected from Gov. Hoffman, ex-Governor Seymour, Senator Wilson, Archbishop McCloury, and representative banks, Garfield and Kerr and letters from President, Vice President. Mr. Seward, Senators Sumner, Casserly, Morton, Trumbull and others. Isaac T. Smith has been appointed receiver of the Central Savings Bank. The run on/the Third Avenue Savings Bank continues. but it is decreasing. About $2,000,000 have been paid out. The appearance of Elbridge T. Gerry as one of the counsel in the Stokes case indicates that the theory of the defence requires much elaboration of detail. It is said that the pressure of freight occasioned by the railroad blockade will compel the Pacific Mail Company to charter another steamer to go to Aspinwall on the 25th inst. There is an excitement at Fordsham College over two attempts to assassinate a student named Benoit from St. Louis by an unknown person.

16. February 8, 1872 New-York Tribune New York, NY

Article from New-York Tribune, February 8, 1872

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NEW-YORK CITY. The Sisters of the Stranger have adopted a minute in memory of the late Mrs. Hannah M. Cronly, the founder of the Society. Seven cases of small-pox were discovered yesterday by an Assistant Health Inspector, in a tenement in West Thirty-first-st., where ten families are living. The Stuyvesant Bank depositors have appointed O.H.P.Archer, the Rev. John Orcutt, Richard Kelly, and R. H. Bull a committee to wind up the business of the bank for them. The ex-Jesuit Passaglia arrived in Philadelphia, yesterday, in the bark Ollanda, from Genoa, and took the first train for this city, where he intends staying some time quietly with friends. Several depositors in the Central Savings Bank met last evening at No. 754 Sixth-ave., and resolved that they would wait upon the Receiver of that institution and demand a statement of its affairs. The following appointments were made yesterday: Charles H. Tucker, Assistant Sergeant-at-Arms and Doorkeeper to the Board of Aldermen; Samuel Bromberg, Third Assistant Clerk to the Board of Alternet. Boswell H. Jerome, age 30, a son of ex-Alderman Lawrence P.. Jerome, of No. 33 West Nineteenthst., was found dead in bed at the Summit House, at Bowery and Canal-st., on Tuesday evening. A post mortem examination showed that death was caused by Bright's disease of the kidneys. About 90 merchants and others of this city have signed a petition to the Legislature, praying that whatever charter may be adopted for the City of New. York, the Department of Docks, as at present constituted, with all its powers and duties, may be continued as a separate and independent department of the City Government." BROOKLYN. Ex-Mayor Kalbfleisch, and others of the Eastern District, went to Albany yesterday, for the purpose of advocating the passage of the Ferry Reform bill. The Coroner's Jury in the case of Prof. Panormo. rendered a verdict, yesterday, censuring Mr. Marvin, the apothecary, for not offering assistance, and recommending an increase of the police force. LONG ISLAND LONG ISLAND CITY.-While workmen were repairing a still at Warren's Oil Works, yesterday, an explosion took place, seriously burning Edward Moran David Leut The 6 p. m. train on the Flushing and and North Side Railroad ran over a horse last evening. and was thrown from the track, the passengers escaping without injury. NEW-JERSEY. JERSEY CITY.-In the Hudson County Courts, yesterday in the libel suit brought by George Watts, agent of the Lehigh and Wyoming Coal Company, against The Evening Journal, to recover $50,000 damages, a verdiet was rendered awarding $3,300 to the plaintiff.

17. February 17, 1872 The New York Herald New York, NY

Article from The New York Herald, February 17, 1872

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THE CENTRAL SAVINGS BANK. In consequence of the announcement made a few days since by the Receiver of the Central Savings Bank, Forty-second street and Sixth avenue. that all persons having claims against the bank should present them, properly certified to, before February 17, a number of depositors during the past few days have acted upon the Receiver's instructions. There are at present about 200 accounts open in the institution, nalf of which are now properly sworn to by depositors. The books of the bank have been examined by the Receiver, and nothing now remains for him to do but to dispose of the fixtures of the banking room and of the lease of the building, which has still four years to run. It is expected that by the 1st of March the Receiver will have finished his part of the business. The cause of the continued delay in closing the affairs of the bank is that $10,000 is due to it by the Ocean Bank, and this amount it is not expected shall be received until the 1st of May next. The Receiver intends publishing a full statement of the present condition of the bank within a week. It is said that the trustees are unwilling to have the bank entirely broken up, and mean to make some effort to re-establish it on a sound basis.

18. March 23, 1872 The Weekly Panola Star Sardis, Batesville, Panola, MS

Article from The Weekly Panola Star, March 23, 1872

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BANK FAILURES IN NEW YORK.- The following banking institutions of the city of New York have failed during the winter: Market Savings Bank, Boling Green Savings Bank, Central Savings Bank; Stuyvesant Nationi Bank; Ocean Natonal Bank, Union Square National Bank and Eighth National Bank. A run has been in progress on the Third Av enue Savings Bank for more than a month, during which time upwards of $2,000,000 have been paid to its small depositors, at the rate of from 60 to 80 per day. At the commencement of the run the individual deposites in the institution amounted to about $5,000,000. It is supposed that it will finally break down.

19. May 11, 1872 The Sun New York, NY

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THE BROKEN BANKS. Meeting of Depositors of the Central Savings Bank-The Trustees Charged with Extravagance. A large meeting of depositors in the Central Savings Bank was held at the bank building. 736 Sixth avenue, yesterday afternoon. They are mainly workingmen and servants, and had sums varying from $1 to $100 in the bank. The trustees, Messrs. Leonard Hazeltine, Cullen Ward. Charles Peck. Joseph M. Stuart, Joel W. Mason, John H. Wilcox. John E. Hazelton, Charles Blondell, John Farrell, James R. Marvin, Thomas E. Triffer, T. M. Quimby, and E. B. Kinney were severely condemned. It is alleged that they were very extravagant In the expenses of the bank, and that when a deficiency was caused by reason of the failure of the Ocean National Bank. they declined. not withstanding the most earnest Importunities of 197 depositors, to make up the deficit, the sum required being only $7.000. Mr. Isaac T. Smith, who was appointed receiver Jan. 18. read his report of the condition of the bank. There is due to depositors $16,088.27. including interest to Dec. 31. 1871, and for rent, gas, newspapers, &c., $729.73. The assets on hand amount to $1,743.81. The furniture of the bank and the safe are to be sold. and it is expected that a dividend of 20 per cent. will be declared June 1. The indebtedness of the Ocean National Bank, amounting to $12.000, the receiver thought would be paid in full, thus making it possible to pay the depositors in the Central Savings Bank the full amount of their deposits. There was an evident feeling of distrust on the part of the depositors. and many expressed their dissent from the receiver's views. A German, who appeared to be the adviser of the gathering, asked Mr. Smith if they would be debarred from suing the trustees by accepting whatever dividend he might declare. He replied that they would still have a right to sue. The depositors then withdrew. Once outside the bank some of them indulged in the wildest denunciation of the trustees. who, in the opinion of a coachman, employed by a wealthy broker in Forty-second street, should be at once hanged to the neighboring lamp-posts. Among the depositors is a domestic In the family of Mayor Hall. The following was circulated and signed by over 100 depositors: We hereby agree to prosecute the swindlers of the Central Savings Bank, and make them feel that in this city their tricks are played out. They declare their intention to at once procure counsel and proceed against the trustees.

20. February 6, 1873 New-York Tribune New York, NY

Article from New-York Tribune, February 6, 1873

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to meet all the liabilities. Some complaints are provalent among the depositors at the reticence of the receiver who, they assert, refuses to furnish them the information that they desire. Some of the depositors think that while Mr. Man is competent and unquestionably houest. he is inclined to throw an unnecessary vail of secrecy over his transactions. They blame Charles Hudson. the late cashier, stating their belief that be was engaged in real estate speculations with one Brinckerhoff, who was pers mitted by him to overdraw his account $30,000. Private counsel have been employed by those depositors who are impatient of the action of the receiver, and criminal proceedings are about to be instituted against those per sons to whom the insolvency of the bank is attributed. A suit to recover $100,000 is said to be pending against the receiver. This money was said to have been loaned to the bank to enable it to meet a heavy defalcation, and to prevent its suspension. It is claimed that noevidence can be found to sustain the claim as against the bank. and that this sum, if due, must be recovered against the officers of the bank individually. THE CENTRAL SAVINGS BANK. This bank participated in the fall of the Ocean National Bank, in which all its money was deposited. Isaac T. Smith was appointed Receiver early in 1872. The assets were about $10,000, and there was due depositors about $17,000, in addition to which there were $3,500 of general liabilities. A dividend of 20 per cent has been paid, and there is a prospect of a future dividend of from 15 to 20 per cent. The time of payment depends mainly upon the settlement of the affairs of the Ocean Bank, which is likely to pay in full. The Receiver has made every effort to get the residue of the funds and to close up the affairs of the bank. Suits have been brought upon certain debts, alleged to be due the bank. and a judgment for $1,000 has been recently obtained against Charles Peck, the Presideat. An appeal has been taken from this judgment and the Receiver is vigorously pushing all the suits. THE UNION SQUARE NATIONAL BANK. John R. Cecil was President, and M. T. Brundage, Cashier, of the Union Square National Bank. Benjamin Beekman was appointed its Receiver, and the depositors have been paid in full. The circulation has been redeemed, and a certain amount of loss is said to have fallen upon the stockholders. This bank failed Dec. 13, 1871, when the Controller of the Currency visited the bank, and, after a brief examination of its statement, suspended it, and appointed Benjamin F. Beekman receiver. The nominal assets were $458,200, estimated by the receiver as worth $340,000, of which have been collected $300,000. The liabilities were $298,800. The depositors have been paid in full, and when the affairs of the bank are settled there may be a surplus for the stockholders. SUMMARY. Of the banks above enumerated three have paid or will pay their depositors in full. in one no dividend has been declared, and the others will realize from 35 to 75 per cent of the claims. Some of the assets are estimates which appeared upon the books of the bank, and were found to be untrustworthy. All of the receivers question the values set upon the assets by the banks themselves, but are enabled to make any estimate of their worth. The following is a recapitulation: Dividends ProbaDividends aboutto hein-