First National Bank - New York, NY

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 29
Charter Number: 29
Start Date: January 19, 1897
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: 6c3a4262

Response Measures

None

Description

Article (San Francisco Call, Jan 20 1897) reports the First National Bank of New York closed its doors yesterday (Jan 19, 1897) and an inspector is in charge; no run or reopening is mentioned, and the bank appears to have failed/closed.

Events (1)

1. January 19, 1897 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank closed its doors amid concerns about insolvency; inspector in charge and questions about acceptance of deposits prior to closing.
Newspaper Excerpt: The First National Bank, which closed its doors yesterday.
Source: newspapers

Newspaper Articles (2)

1. February 27, 1896 Freeland Tribune Freeland, PA

Article from Freeland Tribune, February 27, 1896

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Article Text

NATCHAUG SILK COMPANY. Depositions To Be Taken Before a Commissioner This Week. Willimantic, Conn., Feb. 25.-Depositions of former officers of the Natchaug Silk company will be taken here this week before Commissioner Briscoe of Hartford in the injunction case now in the United States court in New York, that of Hadden & Co., China & Japan Silk company, Morimura, et al, raw silk dealers, heavy creditors of the Natchaug company, against G. W. Pangborn, who claims to be the present owner of manufactured goods in New York, transferred to the receiver of the First National bank before the appointment of a receiver for the Natchaug company.

2. January 20, 1897 The San Francisco Call San Francisco, CA

Article from The San Francisco Call, January 20, 1897

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Article Text

100K ALL IN SIGHT. The First National Bank Accepted Deposits Up to the Close. NEW YORK, N. Y., Jan. 19.-The First National Bank, which closed its doors yesterday. accepted deposits up to closing Saturday. It was unknown Friday whether the bank would open Saturday morning. Bank Inspector Walter, who IS in charge, says if it can be proven that the bank was insolvent and that its officers knew it, then the acceptance of deposits was a violation of law. Comptroller Eckels says that Bank Examiner Tucker criticized the management of the bank in his October letter and the officers were promptly notified. Another failure to-day resulted from the closing of the bank. J. H. and Leonard Shafer & Co. assigned as commission merchants. Liabilities and assets are not known. The Newport banks were not subjected to runs to-day and had they been would easily have met any demand on them.