15799. European American Bank (New York, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
August 1, 1910*
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini
Short Digest
fcb20cfe

Response Measures

None

Description

Articles state the European-American Bank (NY) closed its doors in August 1910 due to losses from poor loans and was placed in receivership. No article describes a depositor run; the State Superintendent of Banks acted and a receiver paid a dividend in December 1910. Date of closure is given only as Saturday in the August 19, 1910 paper, so month is August 1910 (exact day not specified).

Events (2)

1. August 1, 1910* Receivership
Newspaper Excerpt
The European American Bank, which has been in the hands of a receiver since August, was given permission by Supreme Court Justice Amend to-day to pay depositors a dividend of 60 per cent., aggregating $80,000.
Source
newspapers
2. August 1, 1910* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed because of losses incurred through poor loans; insolvency/credit losses caused failure.
Newspaper Excerpt
The European-American bank, New York, closed its doors Saturday Losses incurred through poor loans caused its failure.
Source
newspapers

Newspaper Articles (2)

Article from The Meridian Times, August 19, 1910

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Article Text

Driven almost insane with his desire for cocaine, Thomas Moore, a drug "fiend," serving time in the Ogden jail attempted suicide by cutting his right wrist with a jagged pocketknife in his cell Saturday morning. Uhlan, driven by Charles Tanner established a new world's record at Cleveland, Ohio, Friday, by trotting & mile without a wind shield in 1:58% beating Lou Dillon's record for the same feat, by 2½ seconds. The police and a score of citizens of Farmington, Mass., with all the 70€ men of the fifth regiment of the state militia now in camp, are searching the vicinity for John Morrisey, an escaped typhoid fever patient. For two years, Thomas Mooney, 4( years old, kept the fact that he hit Ezekiel Grewell, his stepfather, 88 years old, on the head with a club or a farm near Horton, Kan., and killed him. But his guilt bore heavily on his conscience and a few days ago he con "essed to a friend. Gustave Carlson, a globe-trotter was found by trainmen at Hoquaim Washs, in a sealed box car, with knuckles and elbows battered to nieces from his efforts to attract at tention to his predicament. He hal starved to death during his four days Imprisonment. An excursion train from Bordeaux with 1,200 passengers, and running ai a speed of fifty miles an hour, crash ed into a freight train at Saujon Sun day. Thirty-two persons were killed and 100 injured. A riot among militiamen occurrel at Gray's station, Ga., following the killing of E. S. and Morris Ethridge Morton feud. Chicago will entertain 500,000 visi tors this week during the thirty-first conclave and encampment of the Knights Templars. The European-American bank, New York, closed its doors Saturday Losses incurred through poor loans caused its failure. in a Colin Stewart, builder and former o owner of the Hotel Maryland, founde of the Annandale Golf club and con V sidered one of the wealthiest men of V Pasadena, Cal., shot and killed him self Thursday. 00 a With her throat cut from ear to a ear, the body of Mrs. oJseph Wolfe a of Denison, Texas, was found by her le laughter lying full dressed upon a ti William Mason, a transfer man of P Balt Lake City, attempted suicide by n hooting. Tuesday, on account of dis ppointment in love. W Twelve men are dead and a score for re suffering from painful injuries as ta he result of the collision on the F orthwestern Pacific railroad at Ig acto station, California. th


Article from The Evening World, December 14, 1910

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Article Text

EUROPEAN-AMERICAN BANK GETS LEAVE TO PAY 60 PER CENT. The European American Bank, which has been in the hands of a receiver since August, was givent permission by Supreme Court Justice Amend to-day to pay depositors a dividend of 60 per cent., aggregating $80,000. The application for the payment was made by the State Superintendent of Banks. The motion was opposed by the owner of the building in Greenwich street, where the bank is located. Through counsel he claimed that the bank owes him $30,000 rental. He thought such relief to depositors would impair the balance and his chances of collecting. Counsel for the State Superintendent stated that there is still $60,000 to meet other claims, and advised that suit be instituted by the owner.