Island City Bank - New York, NY

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 17, 1862
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: 21bfbb11

Response Measures

None

Description

Article (New York Herald, Jan 18, 1862) describes court decision concerning the Receiver of the Island City Bank, directing sale of assets and distribution to creditors. No mention of a depositor run; bank is in receivership and assets are to be sold — interpreted as a suspension that led to closure/receivership. Bank type not specified in text.

Events (2)

1. January 17, 1862 Receivership

Newspaper Excerpt: In the matter of the Island City Bank.-The following decision was made:... Fourth-And for the balance Goodman & Jessup be declared creditors, and entitled to distribution with the other creditors out of the funds in the hands of the Receiver.
Source: newspapers

2. January 17, 1862 Suspension

Cause: Government Action
Cause Details: Court proceedings concerning the Receiver; directions to sell remaining assets and distribute to creditors (receiver in place).
Newspaper Excerpt: In the matter of the Island City Bank.-The following decision was made: First-That the Receiver pay ... Third-That the Receiver sell the assets remaining and pay the proceeds to Goodman & Jessup on account of their claims.
Source: newspapers

Newspaper Articles (1)

1. January 18, 1862 The New York Herald New York, NY

Article from The New York Herald, January 18, 1862

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Article Text

Supreme Court-Special Term. Before Hon. Judge Ingraham. JAN. 17.-In the matter of the Island City Bank.-The following decision was made:First-That the Receiver pay the expenses of the re. ference and of the motion, $10. Second-That he pay the $50, and the $175, unless within ten days he elect to proceed with the action and employ the respondents as his attorney and counsel therein. Third-That the Receiver sell the assets remaining and pay the proceeds to Goodman & Jessup on account of their claims. Fourth-And for the balance Goodman & Jessup be declared creditors, and entitled to distribution with the other creditors out of the funds in the hands of the Recoiver. Fifth-That if the Receiver elect pay to respondents the amount specified, the respondents, on receiving such payment, shall deliver up to the Receiver the claims on which such brought, and consent to the gubstitution of any other attorney therein, if 80 requested by the Receiver.