Fourteenth Street Bank - New York, NY

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: December 12, 1914
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: bff696fc

Response Measures

Books examined

Other: Bankruptcy proceedings and trustee in bankruptcy are mentioned; referee examined Siegel.

Description

Article (Dec 12–13, 1914) describes a bank run connected to Henry Siegel's Fourteenth Street store and subsequent collapse/bankruptcy with trustees involved — indicating suspension and failure. Cause appears to be bank-specific adverse information (mismanagement/embezzlement/insolvency linked to Siegel and his partner).

Events (2)

1. December 12, 1914 Receivership

Newspaper Excerpt: Siegel appeared for examination before Referee Stanley W. Dexter in the United States District Court ... questioned by William Henkel, one of the trustees in bankruptcy.
Source: newspapers

2. December 12, 1914 Run

Cause: Bank Specific Adverse Info
Cause Details: Collapse of Siegel's business, mismanagement and large borrowings from the bank by Siegel; bank insolvency concerns
Newspaper Excerpt: the collapse of his business enterprises, particularly the bank run in connection with the Fourteenth street store
Source: newspapers

Newspaper Articles (1)

1. December 13, 1914 The Washington Herald Washington, DC

Article from The Washington Herald, December 13, 1914

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Article Text

SIEGEL SHIFTS BLAME TO HIS DEAD PARTNER Says Vogel Had Knowledge of Banking Business and He Didn't. Special to The Washington Herald. New York, Dec. 12.-Henry Siegel today shifted the blame for the collapse of his business enterprises, particularly the bank run in connection with the Fourteenth street store, to the shoulders of his dead partner, Frank Vogel. Siegel appeared for examination before Referee Stanley W. Dexter in the United States District Court. Siegel was questioned by William Henkel, one of the trustees in bankruptcy. He smiled constantly and was almost jaunty in his bearing until a disagreeable incident caused him to pale and squirm uneasily in his chair. That was the noise of an angry mob of depositors of Max Kobre, another private banker, who made such a demonstration in another court room that a deputy marshal had to take Kobre away to save him from violence. The bankrupt disclosed by a chance remark his hope of a reconciliation with his wife. Asked if he was living with Mrs. Siegel he replied: "No! not yet." Then he corrected himself, saying: "No; I am not." Vogel, Siegel testified, had had knowledge of the banking business before the founding of the Fourteenth Street Bank, while he, Siegel, had had no experience infinance. Siegel intimated that he had thought everything must be all right because Vogel passed on the statements, but he admitted he had borrowed $50,000 from the bank by a series of notes of from $5,000 to $10,000 each., When asked, however, if he had ever prepared a statement of the bank's condition, he replied: "I decline to answer that question, on the ground that my answer might tend to inc riminate me."