German American Bank - New York, NY

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 22, 1878
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: c46f5359

Response Measures

None

Description

Article (New-York Tribune, Dec 22, 1878) states the German-American Bank 'recently suspended' and refers to a receiver and closing up the affairs, implying permanent closure/receivership. No explicit run is mentioned and no clear cause is given in the article text.

Events (2)

1. December 22, 1878 Receivership

Newspaper Excerpt: The assets, after throwing out what the receiver considers doubtful among the bills receivable, amount to $305,642 63... it will cost some $15,000 to close up the affairs of the bank.
Source: newspapers

2. December 22, 1878 Suspension

Cause Details: Article does not specify a triggering cause for the suspension; only notes the bank 'recently suspended' and later mentions a receiver.
Newspaper Excerpt: A committee appointed by the creditors of the German-American Bank, of this city, which recently suspended, have made an investigation...
Source: newspapers

Newspaper Articles (1)

1. December 23, 1878 New-York Tribune New York, NY

Article from New-York Tribune, December 23, 1878

Click image to open full size in new tab

Article Text

WASHINGTON NOTES. WASHINGTON, Dec. 22, 1878. Representatives Hartridge, Lynde and Frye have been selected as a sub-committee of the Judiciary Committee of the House to visit New-York and inquire into the operations of Mr. John I. Davenport in connection with the late election. They will not begin the investigation until after the holidays. Pierre Fayolle and other holders of the land grant bonds of the Memphis, El Paso and Pacific Railroad Company recently filed a bill intended to restrain the Texas Pacific Railroad Company from disposing, by sale or transfer, of the stock and property of the first-named corporation. The answer of the Texas Pacific Company, filed yesterday, demurs to the jurisdiction of the Court. A committee appointed by the creditors of the German-American Bank, of this city, which recently suspended, have made an investigation, and report that the liabilities of the bank are $305,163 07. The assets, after throwing out what the receiver considers doubtful among the bills receivable, amount to $305,642 63, or $479 56 more than the liabilities. It is, however, estimated that it will cost some $15,000 to close up the affairs of the bank. The House Post Office Committee has agreed to substitute the bill introduced by Mr. Giddings, relating to the classification of mail matter and rates of postage thereon, for the bill reported last session and now on the caléndar. The latter contains many provisions that would be almost fatal to the interests of publishers of newspapers and periodicals, but the new bill has been tramed substantially to meet the views of this class of persons and of the officers of the Post Office Department.