15761. East Side Bank (New York, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 1, 1896*
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini
Short Digest
01e7f235

Response Measures

None

Description

Articles (May–June 1897) describe the East Side Bank as defunct and in liquidation with a receiver (Charles J. Canda). Depositors were paid in full within six months after the bank's closing and remaining assets were sold by order of the receiver. No run is mentioned. I infer the bank closed prior to May 1897 (approximately November 1896 based on within six months language), was placed in receivership and liquidated.

Events (3)
1. November 1, 1896* Suspension
Cause
Voluntary Liquidation
Cause Details
Bank is described as defunct and in liquidation; closed and later placed in receivership for liquidation of assets.
Newspaper Excerpt
The depositors were paid in full within six months after the closing of the bank.
Source
newspapers
2. June 8, 1897 Receivership
Newspaper Excerpt
The remaining assets of the defunct East Side Bank will be sold by order of the receiver at the Real Estate Salesroom, No. 111 Broadway, on June 8. ... sold yesterday by auction ... by order of Charles J. Canda, the receiver.
Source
newspapers
3. June 9, 1897 Other
Newspaper Excerpt
The remaining assets of the East Side Bank were sold yesterday by auction ... These assets consisted of thirty-seven judgments, eleven notes, a $1,000 United States bond and a second mortgage for $6,200 ... The total amount realized was $2,305.50.
Source
newspapers

Newspaper Articles (2)
1. May 27, 1897 New-York Tribune New York, NY
Article from New-York Tribune, May 27, 1897

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Article Text

EAST SIDE BANK LIQUIDATION. The remaining assets of the defunct East Side Bank will be sold by order of the receiver at the Real Estate Salesroom, No. 111 Broadway, on June 8. These assets consist of judgments against creditors, promissory notes, mortgages and bonds. The depositors were paid in full within six months after the closing of the bank. The stockholders have received 40 per cent on the value of their stock. and it is expected they will receive 20 per cent more.

2. June 9, 1897 New-York Tribune New York, NY
Article from New-York Tribune, June 9, 1897

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Article Text

The remaining assets of the East Side Bank were sold yesterday by auction at the Real Estate Salesroom, No. 111 Broadway, by order of Charles J. Canda, the receiver. These assets consisted of thirty-seven judgments, eleven notes, a $1,000 United States bond and a second mortgage for $6,200, on which $2,500 had been paid. The total amount realized was $2,305.50, of which $1,097 50 was from the bond and $675 was from the mortgage. The judgments and notes were regarded as worth little.