15820. Federal Bank (New York, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 14, 1904
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini
Short Digest
1c20bd5c

Response Measures

None

Description

Newspapers report the Federal Bank of New York closed by the State Banking Department (suspended) in mid-April 1904; subsequently a temporary receiver was appointed (June 1, 1904) and the institution was liquidated. There is reporting of depositor agitation/mob after the collapse, but no clear, discrete pre-suspension run described. President David Rothschild was later arrested for misappropriation. Bank type not explicit in articles.

Events (3)
1. April 14, 1904 Suspension
Cause
Government Action
Cause Details
State Banking Department took charge and the bank closed its doors (suspension by state authorities).
Newspaper Excerpt
The Federal Bank of No. 590 Broadway, New York, has closed its doors. The State Banking Department is in charge.
Source
newspapers
2. April 22, 1904 Other
Newspaper Excerpt
MOB AT FEDERAL BANK. Police reserves were called out to protect the property of the suspended Federal Bank at 590 Broadway, New York on account of the efforts made by half a dozen men to break down the outer bars and get inside to see the bank examiners. The persons who started the disturbance were poor denizens of the East Side who had just learned that the bank had collapsed.
Source
newspapers
3. June 1, 1904 Receivership
Newspaper Excerpt
On application of Attorney General Cunnen, Justice Greenbaum in the supreme court, today, appointed Leo Schelsinger as temporary receiver of the Federal Bank. Mr. Schelsinger will deposit a bond of $350,000. He is ordered to deposit all funds of the Federal Bank with the Mechanics' and Traders' Bank.
Source
newspapers

Newspaper Articles (22)
1. April 14, 1904 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, April 14, 1904

Click image to open full size in new tab

Article Text

TELEGRAPHIC BREVITIES In the Harriman Northern Securities no decision was rendered in St Paul, Minn., today. The smallpox situation in York, Pa., has become SO alarming that the local health authorities have adopted the most rigid restrictive measures. The public schools have been closed. The republican State convention of Maine this afternoon elected delegates at large to the Chicago convention. The platform expresses satisfaction in the general condition of prosperity in the State and nation, and endorses President Roosevelt. Frederick Beck, 38 years old, a telegraph operator of the Baltimore & Ohio Railroad, at Curtis Bay, entered the kitchen of his home at 5 o'clock this morning, and drawing a .32 calibre revolver, fired four shots at his wife, Annie. The woman struggled with her husband for the possession of the revolver, and her cries attracted Officer Youngheim, who placed Beck under arrest. Officer Youngheim had the woman sent to a hospital. She is in a very serious condition with two wounds in the head and one, which is the most serious, in the shoulder. No cause is assigned for the act. While more than 100 persons stood on the street powerless to render aid, Harry Gunason, 11 years old, was burned to death on the electric wires of the elevated road, at Chicago, last evening. He tried to climb to the roof of the shed at the station when he slipped and hung on the wires. His clothing instantly became ablaze, his hands were burned and he fell to the pavement lifeless. The Federal Bank of No. 590 Broadway, New York, has closed its doors. The State Banking Department is in charge.

2. April 19, 1904 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, April 19, 1904

Click image to open full size in new tab

Article Text

BANKER ROTHSCHILD SENT TO THE TOMBS NEW YORK. April 18.-Charged with misappropriating $200,000 of the funds of the suspended Federal Bank, David Rothschild, former president of the institution, to-day was arraigned before a magistrate and held in $25,000 bail for examination April 20. Rothschild was taken back to the Tombs to await ball.

3. April 19, 1904 The Savannah Morning News Savannah, GA
Article from The Savannah Morning News, April 19, 1904

Click image to open full size in new tab

Article Text

# Rothschild Is Held. New York, April 18.-Charged with misappropriating $200,000 of the funds of the suspended federal bank, David Rothschild, former president of the institution, was to-day arraigned before a magistrate and held in $25,000 bail for examination April 20. Rothschild was taken back to the Tombs to await bail.

4. April 20, 1904 New Ulm Review New Ulm, MN
Article from New Ulm Review, April 20, 1904

Click image to open full size in new tab

Article Text

Bank President Arraigned. New York, April 19.-Charged with misappropriating $200,000 of the funds of the suspended Federal bank, David Rothschild, former president of the institution, Monday was arraigned before a magistrate and held in $25,000 bail for examination April 20. Rothschild was taken back to the Tombs to await bail.

5. April 21, 1904 New-York Tribune New York, NY
Article from New-York Tribune, April 21, 1904

Click image to open full size in new tab

Article Text

HELD FOR GRAND JURY. ROTHSCHILD'S METHODS. Muirhead Found-Clash Between Globe Receivers Over Papers. Strong intimations that more prominent men and women, including a well known bank president and a Standard Off man, as well as other banking institutions heretofore reputable. were involved in the dual collapse of the Federal Bank and Globe Security Company. were made yesterday. There was a persistent report that David Rothschild speculated and lost heavily in stocks. Rothschild was again arraigned and held for the grand jury at bail aggregating $25,000. A member of the firm of Meyer & Goldsmith, attorneys for the creditors in the bankruptcy proceedings, said last night that a writ of habeas corpus for Rothschild would he asked for this morning, that he might give evidence in the hearing before Commissioner Alexander. Detectives last night had found William Muirhead, the treasurer of the company, who is under $1,000 ball in the Globe usury case, and is also wanted as a witness in the bankruptcy hearing on Saturday. Miss Carrie Adams, of No. 206 West Seventieth-st., who has been seen frequently in the company of Louis Rothschild. a brother of the ex-president, was served with a subpeens ordering her to appear before United States Commissioner Alexander A subpoena has also been issued for Mrs. David Rothschild Receiver McKeen of the Globe Security Company, who was appointed by the Federal Court. learned that Charles C. Black, who had been appointed receiver for the company by the NewJersey Chancery Court. had further qualified as receiver under a New-Jersey federal court commission. the office of neither receiver taking precedence and both applications having been made simultaneously. To confound the confusion Deputy Sheriff John J. Plunkett. who was nominally in charge, refused to leave the office, declaring that he must first have his "poundage" and that there was sufficient money in the office to pay his fee a few hundred dollars. This Receiver McKeen declined to pay. "I find that the trustees." Mr. McKeen told a Tribune reporter. "have transferred the securities to New-Jersey. and I am told on good authority that papers belonging to this office have been taken to that State I have opened several of the safes and found them-empty." Mr. Meyer. of the creditors' counsel. declared that an order had been signed by Justice Holt compelling the trustees to return the papers to the Nassau-st. office. Henry L. Lowds, one of the trustees, has already been subprened by the marshal, and John H. Russell, another trustee, is being sought. Mr. McKeen said that at Saturday's hearing he hoped by the evidence of employees to obtain the keys and combinations of safes he was unable to open. An order is also being sought authorizing Mr. McKeen to continue the business of the company in the Interests of the creditors and sue for loans due, etc. In his application Mr. McKeen states that notes are daily becoming due and must go to protest failing authorization to continue business The fact that Cuthbert the expert accountant who went over the books of Sully & Co., has charge of the accountants who are going over the Globe Security books, was considered part confirmation of the report that Rothschild had lost most of the money in cotton speculation. The only cash asset of the company that was known to exist was $2,840 in the Guardian Trust Company. Just before or immediately after the deputy sheriff took possession of the offices on Saturday, Mr. Muirhead, it is said. went to the trust company and drew out the entire deposit. United States Marshal Henkel has sought for Muirhead in vain. "Compared with the Globe Security Company." said Samuel J. Goldsmith, "the Miller syndicate pales into insignificance." Richard W. Jones, Jr., president of the Oriental Bank, at Broadway and John-st., and expresident of the defunct Seventh National Bank, declared that his institution had asked the Federal to withdraw its accounts because of the many out of town checks that it had deposited and against which it drew immediately after depositing. "Our only dealing with the Federal," said Mr. Jones, "was the carrying of its account. The Federal never owed the Oriental a dollar," Mr. Jones admitted that he had had personal dealings with David Rothschild "Did you ever recommend or indorse Mr. Rothschild?" he was asked. "I don't remember that I ever did," said Mr. Jones. Assistant District Attorney Kresel declared positively that others besides Rothschild had benefited through the Federal Bank's operations. He declined to mention any names He said he had learned that when the bank was being organized it employed ex-Alderman Louis Minski to solicit business and sell stock. According to the agreement he was to get one-half of 1 per cent on the deposits, which netted him about $3,000 a year, and a large percentage on the sale of stock. He had good reason to think it was 25 per cent. The grand jury would be asked to indict Rothschild on several counts of grand larceny. Every time Rothschild discounted an accommodation note he was guilty of grand larceny. On March a statement was issued which represented that the bank was in good condition. If it is learned that this statement was not in accordance with the facts some action would probably be taken against Rothschild on that account, probably in the form of an indictment alleging perjury. Mr. Kresel aserted that he had been informed that Rothschild would plead guilty. Several persons who had borrowed money from the company and do not read the newson fourth page

6. April 21, 1904 The Manitowoc Pilot Manitowoc, WI
Article from The Manitowoc Pilot, April 21, 1904

Click image to open full size in new tab

Article Text

TELEGRAPHIC BREVITIES. It is believed in Tokio that the United States ultimately may offer to act as mediator between-Russia and Japan. The efforts of Zoltan Doehme, Mme. Nordica's ex-husband, to set aside the divorce decree is said to involve two wealthy men. Emperor William has suddenly abandoned his proposed visit to Corfu. The anarchists at that place may have caused the change in plans. Typewriter girls in New York organized a union under the protection of the American Federation of Labor for more pay and shorter hours. A long freight train on the Lake Erie & Western road went through a bridge near Kokomo, Ind., and was totally wrecked. Engineer Cummins and Fireman McKinzie were badly injured. Senator Nelson, in the heat of an argument urging better roads for Alaska, astonished the senate and himself by using a swear word. He was so embarrassed that his speech ended at that point. Physicians attribute the death of Maj. Hugh C. Dennis, president of the Rialto Grain & Security company at St. Louis, to grief over the conviction of Senator Burton for his connection with the company. Charged with misappropriating $200,000 of the funds of the suspended Federal bank of New York, David Rothschild, former president of the institution, was held in $25,000 bail for examination April 20. Strenuous efforts by men high in church and state failed to obtain for President Loubet an audience with Pope Pius, the pontiff insisting that peace with the quirinal must come without outside intervention.

7. April 22, 1904 Martinsburg Statesman Martinsburg, WV
Article from Martinsburg Statesman, April 22, 1904

Click image to open full size in new tab

Article Text

MOB AT FEDERAL BANK. Police reserves were called out to protect the property of the suspended Federal Bank at 59° Broadway, New York on account of the efforts made by half a dozen nien to break down the outer bars and get inside 10 see the bank examiners. The persons who started the disturbance were poor denizens of the East Side who had just learned that the bank had collapsed. They spoke Yiddish and complained because they could net get inside. When they tried to pull down the iron bars a hurry call was sent to police headquarters and the stalwart fellows who respond ed dispersed the crowd.

8. April 25, 1904 Vilas County News Eagle River, WI
Article from Vilas County News, April 25, 1904

Click image to open full size in new tab

Article Text

damage. Railroad freight cars and adjoining property suffered to the extent of $50,000. Dr. George A. Blumer, a noted alienest, while testifying in a will case gave it as his opinion that Hetty Green is "an insane woman." Mrs. Nellie Grant Sartoris, daugh ter of Gea. U. S Grant, received several thousand dollars' worth of gems which she had lost. A man found them in the street. State Senator W. L. Ledgerwood of Knoxville, Tenn., has received an anonymous letter threatening his life as a sequel to an attempt to assassinate him a month ago. At Ogden, Utah, C.J. Stone and his wife were found dead in their room. Letters found indicate that she gave him poison, watched him die, and then ended her own life. At San Francisco the preliminary examination of Mrs. Cordelia Botkin was resumed the time being occupied by the retaking of the testimony of the Delaware witnesses. The efforts of Zoltan Doehme, Mme. Nordica's latest ex-husband, to set aside divorce/decree promises sensational developments. Two wealthy mea are said to be interested. The mixed high school at Kansas City, Kan.. may be closed permanently as a result of the race feeling that has grown out of the killing of Roy Martin, a white pupil, by a negro. At St. Louis Judge McElhenny has overruled the motion for a new trial for "Lord" F. Seymour Barrington who was convicted of the murder of James P. McCann. a turfman. At St. Louis two indictments for murder were returned against Henry Heusack for the killing of his mother. Mrs. Elizabeth Voelker, and his father-in-law, August Paphael. The Graceton coke works. the largest plant in Indiana county, Penn sylvania, will resume operations after. a shutdown of four months. Nearly 500 men will be given employment. At St. Louis the cases of John J. Lavin, Timothy Lavin, James Holmes, and seventeen policemen, indicted for assaults during the recent democratic primaries, have been set for April 21. Governor Yates appointed Judge W. Y. Smith of Vienna, IH., to be a memher of the state board of education to acceed Frank Horn of Duquoin, resigned on account of ill health. A long freight train on the Lake Erie and Western road went through a bridge near Kokomo, Ind. and was totally wrecked. Engineer Cummins and Fireman McKinzle were badly injured. At Des Moines. Ia.. Frederick Shoe maker attempted to commit suicide before the passengers on a Northwestern passenger train by cutting his throat with a penknife. He is in a critical condition, Fire at Council Bluffs destroyed the north wing of the two-story dormitory of the Iowa school for the deaf. The pupils were rescued without accident. The main structure was burned two years ago. Postmaster John Dolph of Brighton Iowa. was fined $40 and costs on a charge of opening letters addressed to patrons of the office. He is an old man and has served as postmaster for many years. Charged with misappropriating $200,000 of the funds of the suspended Federal bank of New York, David Rothschild, former president of the institution. was held in $25,000 bail for examination April 20. At St. Louis, former Chief Jail Guard W. F. Hoffman is charged in an indictment with conspiracy. It is alleged that Hoffman was implicated in the effort to get saws into the city jail to aid a murderer to escape. The United States army transport Sheridan arrived at San Francisco from Manila. It brought 300 members of the native constabulary and police of the Philippine islands and their band, en route to the St. Louis exposition. Active preparations are in progress for the resumption of work at the The Pencoyd extensive Iron works plant is in controlled Philadelphia. by the United States Steel Corporation and has been practically idle for several weeks. A letter was received in St. Louis from Miss Helen Gould stating that owing to III health she will not participate to any great extent in the social functions planned at the exposition. Miss Gould is going south for her health. Cecilio Baez, envoy extraordinary and minister plenipotentiary to the United States from Paraguay, was received by President Roosevelt at the white house. Dr. Baez is the first minister of his country to be ac credited to the Washington government. Governor Hunt of Porte Rico arrived

9. April 28, 1904 The Manitowoc Pilot Manitowoc, WI
Article from The Manitowoc Pilot, April 28, 1904

Click image to open full size in new tab

Article Text

# TELEGRAPHIC BREVITIES. It is believed in Tokio that the United States ultimately may offer to act as mediator between Russia and Japan. The efforts of Zoltan Doehme, Mme. Nordica's ex-husband, to set aside the divorce decree is said to involve two wealthy men. Emperor William has suddenly abandoned his proposed visit to Corfu. The anarchists at that place may have caused the change in plans. Typewriter girls in New York organized a union under the protection of the American Federation of Labor for more pay and shorter hours. A long freight train on the Lake Erie & Western road went through a bridge near Kokomo, Ind., and was totally wrecked. Engineer Cummins and Fireman McKinzie were badly injured. Senator Nelson, in the heat of an argument urging better roads for Alaska, astonished the senate and himself by using a swear word. He was so embarrassed that his speech ended at that point. Physicians attribute the death of Maj. Hugh C. Dennis, president of the Rialto Grain & Security company at St. Louis, to grief over the conviction of Senator Burton for his connection with the company. Charged with misappropriating $200,000 of the funds of the suspended Federal bank of New York, David Rothschild, former president of the institution, was held in $25,000 bail for examination April 20. Strenuous efforts by men high in church and state failed to obtain for President Loubet an audience with Pope Pius, the pontiff insisting that peace with the quirinal must come without outside intervention.

10. April 28, 1904 Custer County Republican Broken Bow, NE
Article from Custer County Republican, April 28, 1904

Click image to open full size in new tab

Article Text

News in Brief Snow slides are reported from al nost every point in the interior of British Columbia. The chief source of wealth of Japar S her coal, of which 9,000,000 tons vere mined in 1901. The Brooklyn Yacht club has ac epted a cup from Sir Thomas Lipton or a race of small racers. Another foreign wrestler has arrived n America ready for business. He is . Spaniard, and is known as Napoleon Pascal. Colonel Thomas Marshall Green, one f the most widely known historlans n the south, has just died at his home n Danville, Ky. Senator J. W. Bailey of Texas has esigned as director of the Kentucky 'rotting Horse Breeders' association. Ie gave no reason for his action. Hadji Mohammed Bui Abdullah, the Iad Mullah, against whom the British ave been conducting a campaign in omaliland, has escaped into Italian erritory. A great-great grandson of Thomas efferson is a candidate for mayor of tichmond, Va. He is Colonel George Vayne Anderson, a member of the tate senate. Harry Y. Hill, a veteran theatrical nanager, is dead at his home in Saraoga, N. Y., as a result of a stroke of aralysis. He was 68 years old and . native of Troy. Henry Marr of Columbus, Ind., a armer, lives in a house exactly in he middle of this great country. A tone in his barn lot marks the spot y census officials. Rev. Samuel A. Taggart, for many ears state secretary of the Young Ien's Christian associations of Pennylvania, and widely known throughut the country, is dead. Charles A. Robinson, who in partership with Mr. Peyton of Califoria, made a national reputation as an wner of coursing greyhounds, is dead t his home in St. Louis, Mo. There are more than a dozen busiess women in Chicago enjoying inomes of from $3,000 to $10,000 a year esulting from their own enterprise, rompted and managed by themselves. It is believed that the Rothschild amily, as a whole, is worth about 1,500,000,000, the French section beng represented by about $350,000,000 nd the English branch by consideraly more. Charged with misappropriating 200,000 of the funds of the suspended Federal bank at New York City, David

11. April 29, 1904 The McCook Tribune McCook, NE
Article from The McCook Tribune, April 29, 1904

Click image to open full size in new tab

Article Text

# News in Brief Snow slides are reported from almost every point in the interior of British Columbia. The chief source of wealth of Japan is her coal, of which 9,000,000 tons were mined in 1901. The Brooklyn Yacht club has accepted a cup from Sir Thomas Lipton for a race of small racers. Another foreign wrestler has arrived in America ready for business. He is a Spaniard, and is known as Napoleon Pascal. Colonel Thomas Marshall Green, one of the most widely known historians in the south, has just died at his home in Danville, Ky. Senator J. W. Bailey of Texas has resigned as director of the Kentucky Trotting Horse Breeders' association. He gave no reason for his action. Hadji Mohammed Bui Abdullah, the Mad Mullah, against whom the British have been conducting a campaign in Somaliland, has escaped into Italian territory. A great-great grandson of Thomas Jefferson is a candidate for mayor of Richmond, Va. He is Colonel George Wayne Anderson, a member of the state senate. Harry Y. Hill, a veteran theatrical manager, is dead at his home in Saratoga, N. Y., as a result of a stroke of paralysis. He was 68 years old and a native of Troy. Henry Marr of Columbus, Ind., a farmer, lives in a house exactly in the middle of this great country. A stone in his barn lot marks the spot by census officials. Rev. Samuel A. Taggart, for many years state secretary of the Young Men's Christian associations of Pennsylvania, and widely known throughout the country, is dead. Charles A. Robinson, who in partnership with Mr. Peyton of California, made a national reputation as an owner of coursing greyhounds, is dead at his home in St. Louis, Mo. There are more than a dozen business women in Chicago enjoying incomes of from $3,000 to $10,000 a year resulting from their own enterprise prompted and managed by themselves. It is believed that the Rothschild family, as a whole, is worth about $1,500,000,000, the French section being represented by about $350,000,000 and the English branch by considerably more. Charged with misappropriating $200,000 of the funds of the suspended Federal bank at New York City, David Rothschild, former president of the institution, yesterday was held in $25,000 bail for examination April 20. The St. Petersburg correspondent of the Paris Journal says that Grand Duke Cyril was on the bridge of the Petrapavlovsk when the explosion occurred, and was thrown into the sea, which led to the saving of his life. In a volume just published in Germany by Prof. Viereck, he credits Benjamin Smith Barton, of Philadelphia, with being the first American student to visit a German university. Barton studied at Gottingen in 1789. There was a general suspension of business in Danbury, Conn., during the hour of the funeral service over the body of Lieutenant Ernest A. Weichert, who was one of the victims of the explosion on the battleship Missouri. In the hope that one of the eighteen George Millers named in the Chicago city directory may turn out to be the missing son of the late Charles Miller of Brooklyn, who left an estate of $100,000, Chief O'Neill of the Chicago police detailed men to investigate. Former Chief Jail Guard W. F. Huffman is charged in an indictment returned by the grand jury at St. Louis with conspiracy. It is alleged that Hoffman was implicated in the effort to get saws into the city jail to aid George Collins, who was executed March 26 for the murder of Detective Schumacher, to escape. Nearly every day for the past two years the secretary of war has received a letter from a man in Massachusetts who simply gives his address and says nothing else. The letters are supposed to be reminders that the writer is awaiting a reply to some communication to the department on a matter of interest to him. Postmaster General Harris, chief of the naval bureau of supplies and accounts, already has received about $2,500 in subscriptions to the fund for the benefit of the dependent relatives of the men who lost their lives on the battleship Missouri. This does not include the proceeds from the entertainment given Monday at the Lafayette theater, which is estimated to be about $1,600. There is a movement on foot to apply the curfew law to the national capital. About 4,000 cities and towns in the United States, mostly in the west, now have curfew laws to keep children who are unattended off the streets after a stated hour in the evening. The loss of life from accidents and disasters in the United States last

12. May 2, 1904 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, May 2, 1904

Click image to open full size in new tab

Article Text

BONDING COMPANY HELD. For Losses to Estate Administered by Banker Rothschild. New York, May 1.-The loss that may fall on an estate of which David Rothschild is administrator, if there was juggling of securities, may have to be borne by the Bankers' Surety Company, of Cleveland. This company bonded Rothschild for $400,000. Since the dual collapse of the Federal Bank and the Globe Security Company, with their attendant disclosures, the heirs of the $165,000 Waissel estate have been making inquiries as to their securities. David Rothschild, the exbank president now in the Tombs, is administrator of this estate, having been recommended for that office by Richard W. Jones, Jr., president of the Oriental Bank. It was reported that other securities on which much less than $165,000 could be realized had been substituted for the originals. When this rumor came to the ears of one of the lawyers after Rothschild's arrest, it is said that the lawyer visited Rothschild in the Tombs and challenged him to deny it, Rothschild giving an evasive answer. Rothschild received a note telling him of the reports and asking him if the substitution theory had any foundation in fact. He sent out word that he had no answer to make. James McKeen, temporary receiver of the Globe Security Company, had word from the District Attorney's office, it is said, that the office declined to furnish the combinations of the company's still unopened safes, pending the decision as to whether the bankruptey hearing before United States Commissioner Alexander should be discontinued for lack of jurisdiction. The safes are believed to contain papers of considerable value to the receiver in his investigation. The State Banking Department finished its examination of the Federal Bank. It has made a report to the Attorney General, who will probably apply to the Supreme Court for a permanent receiver. It is said that the bank is in a better condition than at first supposed, and that there is a possibility of a payment of 75 per cent to depositors.

13. May 7, 1904 New-York Tribune New York, NY
Article from New-York Tribune, May 7, 1904

Click image to open full size in new tab

Article Text

TO PAY FEDERAL BANK DEPOSITORS. State Bank to Advance 35 Per Cent of Balances to Their Credit. Depositors in the defunct Federal Bank. it was learned on good authority last night, will receive only a trifle over 35 per cent of their deposits. Despite recent rumors that the bank was solvent and would pay depositors 100 cents on the dollar. it was announced exclusively by The Tribune several days ago that the bank examiners' report, now filed with the Attorney General, would show that the bank could not pay 50 per cent on deposits. The report that the bank would be able to pay only 35 cents on the dollar received additional confirmation last night when the State Bank, of No. 376 Grand-st., announced that, beginning on Monday, it would advance to Federal depositors on their authenticated accounts 35 per cent of the balances to their credit, paying any dividends in excess of this percentage that might be declared by the Federal Bank's receiver. The name of the receiver has not been announced. "It is our intention." Arnold Kohn, vice-president of the Federal Bank, told a Tribune reporter last night, "to advance money only to small depositors with balances to their credit of, say, $100. We merely aim to relieve the distress of the small depositor." Mr. Kohn denied that Louis Minsky. who has said that he would see that East Side depositors would get 50 per cent, was responsible in any manner whatsoever for the State Bank's plan.

14. June 2, 1904 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, June 2, 1904

Click image to open full size in new tab

Article Text

IN TROUBLE. Receiver Appointed for Federal Bank at New York. New York, June 1.-On application of Attorney General Cunnen, Justice Greenbaum in the supreme court. today. appointed Leo Schelscinger as temporary receiver of the Federal Bank. Mr. Schelscinger will deposit a bond of $350,000. He is ordered to deposit all funds of the Federal Bank with the Mechanics' and Traders' Bank. According to a statement by Bank Examiner Judson filed on April 5, 1904, the assets of the Federal Bank were $346.775, and the liabilities $746,237, leaving a deficit of $339,462.

15. June 10, 1904 New-York Tribune New York, NY
Article from New-York Tribune, June 10, 1904

Click image to open full size in new tab

Article Text

# CALL FEDERAL SOLVENT. Counsel Think Bank Has More than Enough to Pay in Full. On the order to show cause why the temporary receiver for the Federal Bank should not be made permanent, Justice Geigerich heard argument yesterday. Affidavits were submitted from the president of the bank, William M. Woods, and from the cashier, Robert A. Doolittle. These affidavits say that while the bank examiner's report shows liabilities of $740,237.02, $250,000 of this is capital stock of the bank, so that the total liabilities to the creditors are $496,237.02. As against this the bank examiner finds good assets, $346,777.53, leaving a deficiency of $149,461.49, and Mr. Woods states that in his opinion there are over $156,431.67 in good assets which the bank examiner has classed as uncollectable, making a total of good assets amounting to $503,207.20, or $6,970.18 above all liabilities to creditors. Besides this amount, there is $253,043.44 which the examiner treats as uncollectable, but from which Mr. Woods believes a considerable amount may be realized. It would therefore appear, say counsel for the bank, that it has more than sufficient to pay its creditors in full and is solvent. Decision was reserved.

16. April 2, 1905 New-York Tribune New York, NY
Article from New-York Tribune, April 2, 1905

Click image to open full size in new tab

Article Text

# BUSINESS TROUBLES. Judgment by default for $6,122 06 was entered yesterday against Louis R. Rothschild in favor of Leo Schlesinger, as receiver of the Federal Bank, on a note made by Roth-schild on February 16, 1904.

17. March 15, 1906 New-York Tribune New York, NY
Article from New-York Tribune, March 15, 1906

Click image to open full size in new tab

Article Text

JUDGMENT AGAINST DAVID ROTHSCHILD Judgment for $218,757.06 was entered yesterday against David Rothschild, formerly president of the Federal Bank of New-York who is in Sing Sing. The judgment is In favor of Leo Schlesinger. as receiver of the Federal Bank, for money advanced by the bank to Rothschild in 1903 and 1904. It is on a report made by Henry W. Bookstaver, who was appointed referee on October 28. 1905, to take proof and ascertain the amount due the bank. Rothschild was served with the summons in the suit on September 15, 1905, when he was in the Tombs,

18. June 6, 1906 New-York Tribune New York, NY
Article from New-York Tribune, June 6, 1906

Click image to open full size in new tab

Article Text

in possession of the creditor, together with notes: Harry Katcheim, No. 194 Duane street, amount of debt unknown; similarly secured: the notes given by the Charles F. Lucas Company; the Eastern Refrigerator Company, Jersey City: amount of claim, unknown, and similarly secured; Dora Corte, Bloomfield, N. J., $1,000 for money loaned to Charles F. Lucas Company, unsecured. The assets consist of stock in Charles F. Lucas Company. of par value of $11,000; life insurance policy, $5,000; wearing apparel, $150. An involuntary petition was filed against the S. W. Levey Company, No. 200 Broadway, by three creditors, with claims as follows: L. Folk's Sons, $215; John B. Ellison, $1,000; Bauer & Heineman, $600. The petitioner's creditors allege preferential payments as an act constituting bankruptcy, and that its officers and stockholders were permitted to withdraw sums of money illegally for the purpose of "hindering, delaying the creditors and concealing the money from legitimate creditors." Charles W. H. Jackson was appointed receiver of the business of the S. W. Levey Company, with a bond of $1,500. The receiver is authorized to continue the business of merchant tailoring until June 30, making up such orders as are now on hand. It is further claimed that the president of the S. W. Levey Company is at present ill at his home, and will remain so for an indefinite period. The other two officers of the corporation, brothers of the president, not only claim they are in no way actively connected with the business, but also disclaim any official relationship therewith, or knowledge of the fact that they are officers of the company. McDougall Hawkes was appointed receiver of the business of J. S. Brandt & Co., involuntary bankrupts, with a bond of $7,500. The liabilities of the alleged bankrupt are estimated at $47,000. with assets of about $15,000. A voluntary petition was filed against Daniel J. McCauley, No. 242 East 12th street, liquor dealer, showing liabilities of $16,261 and assets of $50. The principal creditors are the German Exchange Bank, Bowery and Bond street, $2.279: Leo Schlessinger. receiver of the Federal Bank of New York, $2,250; Adolph M. Bendheim, No. 128 Broadway, $1,711; the Eichenwald & McCauley Company, No. 3d street, $1,123; Edward P. Hayes, No. 400 East 59th street, $2,000: George Eichenwald, No. 323 East 10th street. $1,000, and two additional claims of an unknown amount. The assets consist of wearing apparel, valued at $50, and 464 shares of stock in the D. J. McCauley Company. which petitioner declares to be not only worthless, but already hypothecated to secure a creditor. The stock in question is said to have no market valuation.

19. July 22, 1906 The Montgomery Advertiser Montgomery, AL
Article from The Montgomery Advertiser, July 22, 1906

Click image to open full size in new tab

Article Text

JUDGMENT FILED. Depositors and Creditors of Bank to Get Benefit. New York, July 21.-A judgment of $1,250,000 against the stockholders or the failed federal bank and in favor of the depositors and other creditors of the bank was filed in the county clerk's office today by Leo Schlesinger, receiver of the bank This sum represents the bank's total capitalization. The deficiency in the assets was $300,000 but the receiver declared that this would be fully made up, by collections made on doubtful assets and that the claims of the creditors will be paid in full.

20. July 23, 1906 The Washington Times Washington, DC
Article from The Washington Times, July 23, 1906

Click image to open full size in new tab

Article Text

TO ASSESS STOCKHOLDERS FOR LOSSES OF BANK NEW YORK, July 23.-An omnibus judgment was entered in the county clerk's office on Saturday by attorneys for Leo Schlesinger, receiver of the Federal Bank, against 101 stockholders in the bank for their liability up to 100 per cent as stockholders. The total amount is $250,000 and $6,432 costs. Among them are David and Louis R. Rothschild, $85,000; Henry Fraser, William M. Woods and Robert A. Doolittle, $63,300; Lewis Haase, $10,000; Hyman Stoff, $5,000; Lizzie Carraway Nash, $5.000: Henry M. Goldfogle, $1,500, and James E. March, $500.

21. October 20, 1906 The Sun New York, NY
Article from The Sun, October 20, 1906

Click image to open full size in new tab

Article Text

-MURPHY JUDGES, INC. A FEW CORPORATION LAWYERS ON "CLEAN BENCH" TICKET. M. Warley Platzek, Counsel for Beer Trust Firm, Which Hearst Papers Attacked -Erlanger for Theatrical Combine -Was a Friend of David Rothschild. Mr. Hearst and his newspapers have repeatedly referred to the judiciary ticket put by the Nominators as "a tioket made up entirely of corporation attorneys." He professes to favor a clean, upright bench entirely free from corporation control, but hehas remained silent about the charges brought in this line against some of the candidates running on the ticket which was the result of a bargain between himself and Charles F. Murphy. M. Warley Platzek, who was put on the ticket for Supreme Court Justice by order of Murphy, long has been engaged in defending corporations and he is himself the and director one at the president least, Fidelity Coal in and corporation Iron Comof Tennessee. He was active as counpany Govsel in the criminal proceedings of the ernment against the beef trust in Chicago and was connected in a legal way with the case of the Schwarzschild & Sulzberger Company. which finally entered a plea of guilty, upon which four of its officers were fined $25,000 by Judge Humphrey on Sentember 21 of last year. Mr. Hearst's newspapers have time and again scored the beef trust for its methods of doing business. Mr. Platzek also is said to be counsel for the United Cigar Stores, about whose business methods so many retail tobacco dealers complain. Another corporation lawyer on the Murphy-Hearst ticket is Mitchell L. Erlanger. He is a brother of the theatrical manager and is attorney for the theatrical trust, the Klaw & Erlanger Building and Construction Company and the New York Theatre Company. It was the theatrical trust that barred James Metcalfe, the dramatic critic, from its theatres. Erlanger was a friend of David Rothschild, who wrecked the Federal Bank and the Globe Security Company, in which many people on the East Side lost the savings of their lives. Erlanger was a depositor there personally and he also deposited in the bank some of the funds that he held as Sheriff. But he got the money out before the crash came. When Erlanger was running for Sheriff Rothschild sent out hundreds of personal letters begging his friends to help the Tammany candidate. These letters read: 'As my friend Mitchell L. Erlanger has been nominated by the Democratic party for Sheriff of the county of New York, and as I am greatly interested in the success of his candidacy as well as the success of the entire Democratic ticket, [should esteem it a personal favor if you would contribute something toward the expense of the campaign. "Please draw your check to the order of James W. Gerard, chairman finance com- will mittee, and mail the same to me and I personally attend to its delivery. "DAVID ROTHSCHILD." Erlanger has since denied that he was friend of Rothschild or that he ever got a a cent of campaign money from him. Another candidate on the Murphy-Hearst ticket who had close corporation connections is J. J. Brady. whose nomination was made as a favor to Louis F. Haffen, the Tammany boss of The Bronx. Brady, it is said, has had a finger in every real estate pie that has been cut in The Bronx in the He last ten years and be is now a rich man. is a director and an active worker in the Geiszler-Haa Realty Company. which has put through some big deals recently. He is also interested largely as a stockholder and director in the Sound Realty Company, the Manhattan Mortgage Company and the Bronx Borough Bank Charles L. Guy, another candidate on the Murphy Hearst ticket. is also a corporation man, being director in the Washington Heights Realty Company. And even John the Ford, one of the men who were put on adticket through the demand of Hearst, mitted yesterday that he was a corporation lawyer, too, being counsel for the Queen Accident and Guarantee Corporation of London, which does an accident, burglary and credit insurance business all over the world. He said he was sorry that he did not have more corporations to represent and that he would not draw the line at even the sugar trust. He hastened to add that he was no friend of the predatory corporations such the Ryan-Belmont merger, the beef as trust and the gas combine but said that he believed that corporations when properly conducted were good things.

22. December 12, 1906 New-York Tribune New York, NY
Article from New-York Tribune, December 12, 1906

Click image to open full size in new tab

Article Text

FEDERAL BANK DEPOSITORS ANGRY. Appoint Committee to Make Investigation of Receivership. Depositors of the Federal Bank, which is being liquidated by a receiver, held a mass meeting at No. 56 Orchard street last night and entered protest at the alleged delay of the receiver in settling the bank's affairs, voted to accept the second dividend of 15 per cent under protest and appointed a committee of twelve depositors and claimants to make a general investigation of the affairs of the receivership. Frank Nudelman, president of the Federal Depositors' Association, presided. Mr. Nudelman said the receiver acknowledged collecting $200,000 of assets of the defunct bank, but it was believed that the amount now in the hands of the receiver was fully $300,000, enough to pay a second dividend of at least 20 to 40 per cent, instead of the 15 per cent annouced by the recelver. The depositors desired to know the reason, also. for two years' delay in paying the second dividend. President Nudelman said there were 2,600 depositors-no many that It was impossible for them to get together in the comon effort to do something toward getting their money back.