First National Bank - New York, NY

Bank Information

Episode Type: Run → Suspension → Unsure
Bank Type: national
Bank ID: 29
Charter Number: 29
Start Date: May 2, 1884
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: 87808ad7

Response Measures

Full suspension

Other: Suspension appears triggered by disappearance/possible malfeasance of bank president (A. S. Warner) and accounting irregularities related to Grant & Ward; no explicit receivership reported in these articles and later reporting (trial excerpts) indicates legal action but not immediate takeover.

Description

Contemporary articles describe heavy withdrawals in early May 1884 tied to Ferdinand Ward / Grant & Ward overdrafts and the disappearance of President A. S. Warner; the First National suspended on May 21, 1884. No clear evidence in the provided clippings that the bank later reopened or was placed in receivership, so classification is run -> suspension with uncertain final outcome.

Events (2)

1. May 2, 1884 Run

Cause: Bank Specific Adverse Info
Cause Details: Large overdrafts and fraudulent/opaque activities by Ferdinand Ward and the firm Grant & Ward drew on the bank and produced heavy withdrawals in early May 1884.
Measures: Bank pressed Ward/Grant for return of funds; internal examination and production of account sheets in court testimony; attempted to meet clearing house obligations.
Newspaper Excerpt: On April 26, 1884, Grant & Ward had a balance of $46,000, and on the morning of May 2, the balance was $804,702.62.... Three checks drawn by Ward came through the clearing house on the morning of May 6 to the amount of $215,000.
Source: newspapers

2. May 21, 1884 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Suspension attributed to the mysterious disappearance of President A. S. Warner combined with the discovery of large deficiencies tied to Grant & Ward activities and related loss of confidence and liquidity; reports of Cashier Dickinson's embezzlement also mentioned in contemporaneous coverage of related banks but primary proximate cause is the Warner disappearance and linked malfeasance/deficits in bank accounts (Grant & Ward).
Newspaper Excerpt: The First National Bank, of N. Y., suspended on the 21st, in consequence of the mysterious disappearance of President, A. S. Warner.
Source: newspapers

Newspaper Articles (5)

1. May 10, 1884 The Evening Critic Washington, DC

Article from The Evening Critic, May 10, 1884

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the more About Great THE VANISHED MILLIONS. Failure & Did Ward New Grant York-Hot Business. @The developments & and Ward The New matters York of the firm Bank of Grant yesterday known plainly rein of the the Marine that National the worst no is end not of yet complications two suits indicated garding them. arison That is clear by the from bank of and Prest- the have already begun one the assignee were brought other that were by John D. H. Fish. Morris, Both who are actions also Chicago the attorneys & St. dent by Bangs James suit & Stetson, of the Company New York, against of second Grant mort- & Ward Louis in the to Railroad recover pledged its $1,400,000 by the Bues road to recover with of the Grant $700, frrm. of gage "The bonds, Marine Bank of the overd Buspension the granted 000, Ward, the which amount In this precipitated Buit Judge the property Donobue The complaint of James of the an Fish bank. and Ambrose against snow, Ward. yesterday vico-president accounts that the 18 D. verified by It was learned different authorMarine the bank Bank Ward had was three the the only general person account was of a upon to which draw. Grant one was & Ward, and another the third close was the ized firm account of of the firm, of Ward's At the accounts special individual account Saturday these $650,000 three to the on tween of showed an business a the balance on firm. of At in the about their close favor of business including was beworthless toro credit Monday of $300,000 the balance checks and $400,000, for $215,000 on three the First Ward's "on National Monday. Bank. it last is 10af said, record of the Ward of firm's what been check. these dischecks The from stubs the give for. no It has since for $300, New book. checks were used one of them of was the Buffalo, Company, covered the Railroad its drawn $600,000 The York had just with the H. and which & that Philadelphia to bonds pledged order rebypothecated firm. William of Another bonds general were mortgago Immediately drawn to the o order and was given for a to simi- that in on the railroad check gentleman vanderbill amount was received for return $150,000, Chemical by for the through his check National the company Clearing Bank, Mr. The lar check and passed suspendent but soon certified day the bank his check the third was did amount to for whose order, be enough. check was Vanderburge House the drawn, not and get methods which of the opened cannot Arm, of an when its a the yet "As learned. example that of the showed books were balance When on Marine Bank from the reduced to a got its the credit was Clearing bank it the 18 stated Tuesday morning returns they $360,000. The Clearing House House which dethat morning $700,000. debit balance, & Ward ficiency of bank for its ran to Grant had a bal called $550,000 on the and claimed Fish that they Ward was or for was aid. in bank They as understood The situation firm's Ward ns. knew away, ance what and no he one any, had were been in doing. powerless the vault and and House so was sets, the key. if it had reported They were to the time Clearing Ward's worth. back had He 80 same National came in committee. Fish. checks on the the First Growing suspicious minds of the were other down now thoroughi went the shutters stamped the less the committee in consequence "no funds.' bank that Mr. aroused, Fish other re- of the and Marine was learned Bank. the yesterday agreement of that the from each should the to of the frrm, to 3,000 a them as fused members partners "It assent and leave to draw out insisted the balance effect upon every of month withdraw- month, the profits capital. He profits 1883 about working full share of drew the out in drawn about $500,000. Whether be or not, may confided $300,000. ing and his in consequence So operations far this year know no times has the the real fact never nature that be to known. He business remarkably of the firm's has at different associates profitablo some firm was with to the business in it is said, for it to did his of his Ward. connection doing by a each agreed Government current amount makes not, con- exfrom whether tracts. to penses be withdrawn month month. because no or no shown, ran difference result has there no said the business, one time and, have as the taken believe everything the of books the was might in at the any office. show I do the Transactions has seen, do but book at. begin so far AS any little elso to They spent keepers the of the small stock their chairs. tend will firm. to to time firm in had one business. do anything comforta. No one except most ever of saw themselves their the Grant and boys Ward their ran friends the whole will busi- find ness, make bie about and I the think office. important that the papers assignee As far of as concerned straight- the firm were affairs him his ening that the carried out the more in will Ward's lenvy of hat. the firm appearance task.' is firm, of the I in a "In sums acco of money of their affairs it back said in the of vast think no unting one for the received by the that, cognizant part of at the rate banker addition to dividends paying a or interest, month, to they the people had to shape of per cent. obtained, of persons from from large 3 whom to com 5 it missions Instrumental has been to a the number in inducing blind pool. appar- other Of who pay had to been invest money of in these persons of the operapeople late, it 18 said, some the real insisted nature upon excellent exorbauthority received itant tion, that within $300,000 skirmishers ently discoversequently and commissions. It n is month stated one for on of his these services."

2. May 15, 1884 Lancaster Daily Intelligencer Lancaster, PA

Article from Lancaster Daily Intelligencer, May 15, 1884

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IN ST. WALL PANIC AND STOOKS of grought of the when 1873, Wall has it The Not since exchange the days been was closed, so failures rbed as united stock New Yor morning rapidly falling dis ists street. educaday with produced the a general capital and has been tions last was week, market, has most conservation institu- and stock trust, and most the substantial subjected to began stock report. The of business at the more that the than half Sales the call of stock unable were of the failure excit of J. street next ers were In the midst then of of of the them chairman Williams BroadBroad of 36 108 street, and next At came of the C. o M W Bogart, Randale, New 18 Wall that street Hatch on Foote, to coumb bad of Goffe Nelson & Robinson, the best known The houses or excite an From build; and the the this time the sub treasure 1 calmly first of the ment at window Folger gazed scene- country was ing enturbably in the upon history of the treasury pauic., Co., instance secretar Wall street Robinson & in- law where present during a Nelson binson, son George The firm of of elson Robert Saney. and bertson own I Soney, sons) the firm of George (his two of George 1. The Se Seney, Three exchange, of D. stock the only both pey. Charles of Hatch & Foote B. Foote, Sec the firm B Hatch and the board. depositors heavy concern. clook instituted are under hotel. was By bank had whose auth. the this and ann official the up Avenue Seney with that the doors had bank many iting scenes were payments bank National fast but as in the out. money the Second were made as At one positors mil could hand the hundred deposito Eno, the line, while real estate all that over three Mr. Amos investor R. they stood wou by: lionairo assuring of their dues smilingly 'clock, cont when the theorotopolitan Metrodest ex wildest was made its that doors, the in street nearly bad covalled. The and the to the Trinity around churchyan the blue after station to clerk minutes taken his surging crowa appear the door upon Within had keep the made his a notice the by First drawn National the Metropoli be the draits Utica, New on York, bank may for bank of ban of First National at set up The with white men faces in of the the First dashed bank. National afterwal up tacked the by drawn Maverick the Metro be prebank National the First National bank of Bostoa of New on York bank may of payment. on the of travel out fire. or York for reclement the failure of the Stock ran back again The news Men rushed to the Hundred 10, minutes exchange, then within fifteen the galleries the and weds in bowled as with 000 persons were velled and line dropped construct shares lightning rapidity. and The along the The heavily trembled beneath weight and the out of the failure crowd that the result of bank specia Mr. bank is stocks the by the Through Metropolitan Metrop allway George Seney bank has been among the various always, Evansville M: with Deatur umbus and and Hock Virthem identified the Central Peoria, and East Tennessee, was with Valley and the Mr. Seney these secu Georgia. interested in known that these bank heavily of course, has well been simp millions that the in literally that to the bank they enormous, dollars Many but it clear and now it the upon the had got unable out, depreciated do so, properties disaster to fal the bank Loans, showed were aling of these has caused Their this last report $10,977, to 000 legal tenders, deposits, $491,000,305,000 clearing specie, house $1,770,000 000, and circu the that bank, Phasis and lation, It was rumored street, was in was begua. the A Inside run 39 up Wall assembled this and fought BO many upon tigers. quiet He said to all meet stops of President the bank Eugene like The Dutilh bank sat claims. is per olvent and trouble able conserva ticipate no of the & old Foote and created was of Hatch purprise, pursued as it house npathy and had always operations, known that course they understood in tood stock that bank it was the deposit, Phoenix, but was the unwi finally ingness of to their certify their will feared, affect checks failure, it is as that house men the were the connection habit of Bogar dry goods districts, with borrowing dry goods money from them. and great excitement The intense in values of raised closing the the ascer- stock as thrinkage to the until vigability the worst broker could firms be coul being exchange and the various where they stood, days of a paral 1873, find tained out exactly found in the of dark the case did not stocks of but the warrant such exigencies a market course, is weak and at well seem to the stock are selling knot WI demoralized While and offered, it is an appear any prices have put in away, the class almost good buyers and taking picked up that ance and are buy of stocks, ing having

3. August 28, 1884 The Abilene Reflector Abilene, KS

Article from The Abilene Reflector, August 28, 1884

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PRESIDENT ARTHUR recently received at the Fifth Avenue Hotel, New York, Commander Schley, Commander Coffin, Lieutenant Emory, Chief Engineer Melville and a dozen other officers of the Greely expedition. THE secret service division is in possession of a new counterfeit ten dollar note on the Third National Bank of Cincinnati. It is series B. I., with chocolate colored back, vignette on the face. The note has a coarse, scratchy appearance, not very well executed. ### THE EAST. THERE was a Butler demonstration at Providence, R. I., on the 19th. About three thousand persons were present. The demonstration was considered a failure in point of numbers, ten thousand at least being expected. J. J. WOODWARD, one of the physicians who attended President Garfield after the assassination, died in Philadelphia the other day. VANDERBILT refused to state to a reporter the amount of the consideration he received from Robert Bonner for the trotter, Maud S. Guesses range from $50,000 to $100,000. The mare will not be allowed on the turf unless Jay-Eye-See beats her record, when a free exhibition of her speed will be given. SCHEDULES in the insolvent assignment of Hand & Ellsworth, paper manufacturers, Beekman street, New York, show liabilities of $281,000; nominal assets, $384,000; actual assets, $32,581. VINCENT L. BRADFORD, of Philadelphia, bequeaths his library of law books to the Washington and Lee University, to be added to the books for which he had previously given the institution money. The testator's collection of paintings also goes to the Washington and Lee University. THE sixteenth annual reunion of the Army of the Cumberland, of which General Sheridan is President, will be held at Rochester, N. Y., September 17 and 18. THE failure of Werner & Merritt, fruit importers of Philadelphia, is reported. Liabilities, $500,000. JUDGE BARTLETT, of New York, granted an attachment against the property of John P. Dickinson, defaulting cashier of the Wall Street Bank, in a suit by the bank for the recovery of $150,000. ARCE BISHOP RYAN was installed at Philadelphia on the 20th, in the presence of about ten thousand persons. GRAHAM, LODGE & Co., wholesale white goods, of Philadelphia, failed recently. Liabilities unknown. E. L. MINGER, JR., wholesale canned goods, Philadelphia, was reported embarrassed by the failure of Warner & Merritt. An official report shows a deficiency of $485,474 in the accounts of the Wall Street Bank in New York. Suit has been brought to forfeit the franchise, and Judge Bartlett enjoined the officers from disposing of any of its property. It having been rumored that a compromise was being arranged in New York by which Ferdinand Ward would be released, another order of arrest was obtained by William H. Bingham, a broker, who brings suit for $48,000 obtained by the firm of Grant & Ward under false representations. THE Buck Ridge mine, owned by Philadelphia and Reading Coal & Company, was recently reported or A LARGE and enthusiastic meeting of producers recently held at Oil City unanimously resolved to stop the production til January 1, 1886. This will curtail production to a great extent, and three-eighths of the producing wells and territory is in the hands of members of the association. THE First National Bank, of N. Y., suspended on the 21st, in consequence of the mysterious disappearance of President, A. S. Warner. Was administrator of the Burrows estate, valued at $5,000,000, and with his disappearance is coupled the poisoning of W. R. Burrows, one of the heirs. A very dark cloud was reported to be resting over Warner. In attempting to extinguish the fire in the Buck Ridge mine, Shamokin, Pa., seven men lost their lives. The intention was to flood the mine by boring a hole through from the Greenback mine, thirty-six feet long. While thus engaged, gas and fire broke through, killing the seven workmen and setting the Greenback mine also on fire. Loss thus far, $100,000. MRS. PARNELL has been in conference at Boston with several Catholic bishops. She expressed no preference as to Presidential candidates, but hoped to secure a pledge from one or the other party for the introduction free of duty of many articles produced in Ireland which do not compete with American industries. THE Republican State Convention of Connecticut have nominated Governor Henry H. Harrison. THE elaborately carved Italian marble column over Governor Edward Morgan at Cedar Hill cemetery, Conn., was ruined by fire the other night. Two freight trains collided recently in the yard of the Pennsylvania Railroad at Columbia, Pa. The caboose and goncola car of the front train and the engine and four cars of the rear train, the latter filled with sheep and hogs, were mashed. The wreck caught fire and was consumed. Upward of eight hundred animals were killed. THERE was a heavy rain, accompanied by thunder and lightning, on the 22d at Dover, N. H. Many persons were killed by lightning, and houses were damaged. Miles of telegraph and telephone wires were blown down. ### THE WEST. J. T. RIPLEY has resigned the Assistant General Freight Agency of the Wabash Railroad, to take the Commissionership of the

4. August 29, 1884 The Middlebury Register and Addison County Journal Middlebury, VT

Article from The Middlebury Register and Addison County Journal, August 29, 1884

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NEWS SUMMARY Eastern and Middle States. INVESTIGATION shows that all remaining the capital stock of $500,000 of the Street bank, New York, which recently pended on account of Cashier Dickinson's falcation, is $14,526. THE West Point Foundry associatic owners of the famous cannon making at Cold Spring, N. Y., has failed with liabilities. Its authorized capital stock $630,000. WILLIAM H. VANDERBILT, proprietor the celebrated mare Maud S., which trotted the fastest mileon record, has sold animal to Robert Bonner, the New York lisher, for $40,000. AT a labor demonstration at Rocky R. I., General Butler delivered a lengthy dress, in the course of which he gave a tailed review of his own career and of he had done for the benefit of the workin men. GENERAL GEORGE B. MCCLELLAN presid at the New Jersey Democratic State tion in Trenton. Presidential electors nominated, aplatform indorsing the Nation Democratic platform and candidates adopted, and addresses were delivered Governor Abbett, Congressman McAdoo others. AN immense assemblage witnessed the stallation of the Most Rev. Patrick J. Ry as Catholic archbishop of Philadelphia. AT the Connecticut Republican State vention in New Haven, Henry B. Harris was nominated for governor on the second lot, receiving 252 votes to 187 for Phineas Lounsbury, and ten for William H. Bulkele The remainder of the State ticket nominat is: Loren A. Cook, lieutenant-governe Charles A. Russell. secretary of state: tine B. Chamberlin, treasurer: L. J. son, of Waterbury, comptroller. Preside tial electors were also nominated and a platform indorsing the national platform adopted. GREAT excitement was created at N. Y., by thesuspension of the First Nation bank, and the disappearance of. the presider Albert S. Warner, who had left a week vious, presumably for Canada. IN an interview with President Arthur the Fifth Avenue hotel, New York, mander Schley, of the Greely relief tion, was told that he would be the chief the bureau of equipment and recruiting, place of Commodore Earl English, who take command of the European squadron. A SPRINGFIELD (Mass.) dispatch says "Reports from 325 points covering the ish provinces, New England and New indicate that the hay crop just harvested nearly thirty per cent. less than last The average yield is seventy-three. are higher than last year, when the crop very heavy in the great shipping counti Many farmers will either have to sell stock buy hay. Cattle will, therefore, be somewh lower than one year ago." THE United States steamship Tallapoo was run into by a schooner off Cottage Mass., and cut half in two, going to the tom in six minutes after the collision. were 140 officers and men on board, nearly asleep, but owing to the discipline prevaili they took to the boats and rowed with but small loss of life. geon Clarence E. Black and one seaman

5. October 28, 1885 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, October 28, 1885

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Making it Warm for Ward. NEW YORK, Oct. 27.-The county court house was crowded this morning with people anxious to gain admittance to the court room of over and terminer in which Ferdinand Ward is on trial. Benjamin Fish, the paying teller, was recalled to the stand, and Ward listened attentively as he read off the amount of deposits made by himself and the firm of Grant & Ward. Some of the deposits ranged in the hundreds of thousands, and Gen. Tracy demanded that certain books be produced, and, they not being at hand, he asked for some time to examine them. "I don't propose to delay this case," was the answer of the judge, "and you will have to get the books the best way you can." In his testimony Paying Teller Fish said: On April 26, 1884, Grant & Ward had a balance of $46,000, and on the morning of May 2, the balance was $804,702.62. On May 2 Ward was raising money for the bank, and he managed the deposits. By consent of counsel the sheets from which these statements were given by the witness were admitted as evidence, thereby excluding the testamentary evidence in regard to overdrafts. Grant & Ward had two accounts. one special and the other general. Ward had an individual account and drew against the three. The sheets of the accounts were also admitted as evidence. Ward had spoken to witness about the purpose of his special account, but testimony on that point was ruled out upon objection and the witness was excused. Samuel D. Cornell, bookkeeper of the First National bank, next testified that Ward's balance on May 1. 2, 3, 4. 5 and 6 was $221,398. There were no deposits made on any of those days. Ward's account was opened in June, 1881. Three checks drawn by Ward came through the clearing house on the morning of May 6 to the amount of $215,000. Ex-President Fish was next recalled, and his cross-examination was resumed by Gen. Tracy. He said: [ do not know how many letters I received from Ward on May 5. It is not true that my bank was in financial difficulty since January, 1882, and that Ward kept helping to save it. We pressed Ward to return to us the money which he and his firm had borrowed. Ward handed Gen. Tracy a number of letters to examine the witness upon. The first letter read as follows: New York. Jan. 4.-My Dear Ward: You must arrange matters a little by yourself. I was away yesterday, as you know. Mr. Meiggs was here and is here now, closely criticising everything suspicious about mining stocks, etc.. etc., and is in no pleased frame of mind. I do not know how to enter up those Elizabeth City and Norfolk bonds while he is here. I mean for the $8,000. J.D. FISH. Yours in confusion, Other letters were offered as follows, upon which the witness was examined. This one was written upon a sheet torn in two: Monday, Dec. 11. 1882.-My Dear Mr. Ward: We are $112,000 debit this morning. Get in all the money you can to-day by hook or crook, or any other honest methods. J.D.F. Another: New York, Sept. 2, 1882.-My Dear Mr. Ward: I cannot go away from the bank to day. We run debtor to the bank this morning $373,000. and I have all I can do to keep matters right side up here. Where is Gen. Grant? Cannot he get some money from the United States bank for Grant & Ward, or on J.D.F. their note, indorsed by me? Another: New York, 30th of August, 1882.-My Dear Mr. Ward: We are $181,000 under our required reserve this morning, and it will not do to make loans. Otherwise I would be very glad to do so. I am bending all my energies to getting matters in decent shape in this J.D.F. place. Other letters of similar import were read. Mr. Fish was examined at length upon the