16031. J. A. & W. H. Sweeney (New York, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
private
Start Date
December 12, 1882
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini
Short Digest
a97c4bea

Response Measures

None

Description

Articles report the banking and brokerage firm 'suspended' and made a general assignment (closed/failure) in mid-December 1882 with liabilities ~$15,000–30,000. No run or depositor crowding is mentioned; failure attributed to legitimate losses/speculation by a partner. Assignment indicates permanent closure rather than a temporary suspension/reopening.

Events (1)
1. December 12, 1882 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Firm made a general assignment due to legitimate losses in business and speculations by the junior partner; liabilities exceeded assets leading to failure and assignment.
Newspaper Excerpt
The banking firm of J. A. & W. H. Sweeney, corner of Ann and Nassau streets, New York, closed yesterday morning and made general assignment, without preferences, to Arthur Murphy.
Source
newspapers

Newspaper Articles (10)
1. December 13, 1882 Savannah Morning News Savannah, GA
Article from Savannah Morning News, December 13, 1882

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BRIEF NEWS SUMMARY. Wm. Galignani, the last of the well known family to which belonged Galiynani's Messenger, is dead. The report that Lord Houghton has had two strokes of paralysis recently is incorrect. He is suffering from an attack of bronchitis. A San Antonio special reports the finding of the body of G. M. Lewis, a sheep ranchman, a mile from home, with a bullet hole in his body. The President has received congratulations and thanks from the St. Louis and Memphis Cotton Exchanges for the references to the Mississippi river improvement in his message. The hearing in the Dickson case was resumed in the Police Court at Washington yesterday. The cross-examination of witness Bowen was continued by Mr. Cuppy, but nothing of special importance was elicited. The Spanish Senate yesterday adopted a resolution opposing any modification of the constitution, which was presented last Wednesday by a Senator favorable to the Ministry. The minority abstained from voting on the question. A San Antonio special says: "A telegram has been received to the effect that the new iron and steel bridge on the Mexican Pacific Railroad extension has fallen while over one hundred workmen were engaged on it. It is said that seven were killed and many wounded." A special from Easton, Pa., says: "After running twelve hours the Delaware Rolling Mill at Phillipsburg, N. J., was compelled to close. The mill fired up Monday morning with a full force, but at night the heaters struck for higher wages, with the above result." The funeral of the late Louis Blane took place yesterday at Paris. The streets through which the cortege passed, especially the Rue de Rivoli, were lined with crowds of people. In the procession were nearly all the Republican Deputies and Senators, over a hundred deputations bearing draped flags and wreaths, and large detachments of infantry. The remains were interred in the cemetery of Pere la Chaise. The banking firm of J. A. & W. H. Sweeney, corner of Ann and Nassau streets, New York, closed yesterday morning and made general assignment, without preferences, to Arthur Murphy. Their liabilities will not fall far short of $25,000 or $30,000, and their assets are about half that amount. The failure is alleged to be due to legitimate losses in business, It is said at least fifty cents on the dollar will be paid to the creditors.

2. December 13, 1882 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, December 13, 1882

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NEW YORK. A Forger Sent to Prison. OSWEGO, Dec. 12.-George Watson, who was found guilty of forgery in presenting raised checks at the First National Bank, has been sentenced to seven years in Auburn Prison. What One Railroad Earned. ALBANY, Dec. 12.-The report to the State engineer for the year ending Sept. 30th shows the following: New York, New Haven & Har ford Railroad passenger earnings, $3,393,513.86. Total earnings $5,937,307 64. Total charges against the earnings, $5,788,119.51. An Honest Failure. NEW YORK, Dec. 12. - -The banking firm of J. A. & W. H. Sweeney, corner of Ann & Nassau streets, closed this morning and made a general assignment without preferences to Arthur Murphy The liabilities will not fall far sh ort of $25,000 to $30,000, and assets about half that amount. The failure is alleged to be due to legitimate losses in business. It is said that at least 20 cents on the dollar will be paid to the creditors. The Railroad War Ended. The railroad presidents and managers met this atternoon. The sub-committee, in a special report, recommended that there be no "more railroads built in the Northwest," and that the St. Paul Railroad leave Omaha territory. Both these recommendations, it is reported, were accepted. This settles the territorial question. The committee adjourned till tomorrow when questions of rates and division of business will be considered. Death of a Business Man. Winthrop Derwolf, who died in the street in Boston was receiver of the Franklin Institution for Savings in this city which was wrecked by the Sprague failure.

3. December 13, 1882 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN
Article from Memphis Daily Appeal, December 13, 1882

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BUSINESS TROUBLES. A Broken Bank. NEW YORK, December 12.-J. A. & W. H. Sweeney, bankers, have assigued. Liabilities, $30,000. Made an Assignment.

4. December 13, 1882 New-York Tribune New York, NY
Article from New-York Tribune, December 13, 1882

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FAILURE OF J. A. & W. H SWEENEY. The banking and brokérage firm of J. A. & W. H. Sweeney, of Ann and Nassau-sts., suspended yesterday, making a general assi ignment without any preferences, to Edwin H. Browne. Their attorney is Arthur Murphy, jr., of No. 140 Nassau-st. Mr. Murphy says that the liabilities of the firm are about $15,000, and that they will pay about 50 cents on the dollar. It was rumored that the firm were "short " ou Omaha preferred stock, but Mr. Murphy claimed that the failure was due to legitimate losses. The business of the firm was established in 1862 by John-H. Tisdale and Daniel M. Sweeney. Soon afterward Mr. Tisdale retired and Mr. Sweeney continued alone until 1870. Then he took into business his younger brother, J. A. Sweeney. In 1872 the elder Sweeney, while on his way to his home in Brooklyn with valuable articles in his possession, was assaulted by thieves and so badly injured that he died not long afterward. J. A. Sweeney then took into partnership his younger broth r. W. H. Sweeney. They had the reputation of doing a quiet but safe business. It is said that the junior partner lost about $33,000 by Wall street speculations.

5. December 16, 1882 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, December 16, 1882

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The Week's Failures. NEW YORK, Dec. 15.-The business failures of the past seven days, as rep rted to R. G. Dun & Co., number 208, as compared with 109 last week. Of these the Eastern States had 24, Western 60, Southern 41, Middle 39, Pacific States and Territories 14, Canada 18, and New York city 12. The stopping of the banking house of J. A. & W. H. Sweeney in New York is the most notable failure in the city. In the country, Smith & Sayles, woolens, Chepachet, R. I., have assigned, as also Cooper & Bartlett, boots and shoes, Philadelphia. Robert Lawson & Co., wholesale saddlers, Baltimore, Md, have suspended and called a meeting of their creditors. The failures of the week generally are not so large in the amount of liabilities or so important as they have been in previous weeks.

6. December 27, 1882 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN
Article from Memphis Daily Appeal, December 27, 1882

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NEW YORK, December 26.-At a meeting of the creditors of J. A. & W. H. Sweeney, suspended bankers, Jas A. Sweeney promised that every cent due should be paid. A Broken Broker m

7. January 4, 1883 The Bolivar Bulletin Bolivar, TN
Article from The Bolivar Bulletin, January 4, 1883

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THE other day the naval hospital at Portsmouth, Eng., was visited by Queen Victoria, Princess Beatrice, and the Duke and Duchess of Edinburgh, who conferred decorations on a number of convalescent patients of the Egyptian campaign. From a somewhat extended trip near Munster, Prussia, Barney Horstman returned to Lafayette, Ind., the other day. About twelve years ago he came to America to escape military duty. In January last he went back on a visit, and after a disagreement in settling the paternal estate a sisterin-law had him arrested for evading military duty. He had to work out a six months' sentence for desertion in the military prison. THE President the other day issued an executive order setting apart certain lands in Dakota Territory for the Turtle Mountain band of Chippewa Indians, and such other Indians of the Chippewa tribe as the Secretary of the Interior may see fit to settle thereon. AT a meeting the other day of the creditors of J. A. & W. H. Sweeney, suspended bankers at New York, James A. Sweeney promised that every cent due should be paid. LONG distance handicap racing has been introduced into the United States. In 3 contest of twelve hours, in Brooklyn, N. Y., the other day, thirty of the best runners of all nations participated. Norman Taylor won by a score of eighty-three miles. A PUGILISTIC contest, lasting ninety minutes, took place the other day at Newark, N.J., between Charles Gray and Fred Reichert. Five hundred persons were present. Reichert fell unconscious in the twenty-eighth round. FIFTY Spiritualists residing in Trantenau, Bohemia, were recently summoned before a magistrate, and the local press urged the Minister of the Interior to institute an inquiry on the subject of spiritualism. ALL differencés between the manufacturers and employes in the shoe trade at Cincinnati, O., with reference to the schedule of wages for the six months ending June 20 next were amicably adjusted a few days ago by a board of arbitration. FOR the five months which ended with November last, the number of immigrants arriving iu the United States was 244,611, against 291,320 for the corresponding term in 1881-3 falling off of 46,709. For the month of November last the arrivals numbered 40,625, and in November, 1881, the figures were 1.586-showing a reduction of 10,961. In the five months this year, Great Britain and Ireland seut 59,490 of their people, or 13,122 less than last year. Germany's quota for the same term this year was 84,307. Last year it was 100,479, the reduction this year being 16,172. From Sweden and Norway the arrivals in the five months of 1882 were 6,836 less than in the same months for 1881; while Canada sent 35,259 in the period named for 1882, and only 31,471 in 1881. No other country named in the returns gave us more people this year than last. THE Commissioner of Agriculture, in his report to Congress relative to the work of his department, makes a formidable exhibit of the distribution of seeds alone. Under the special appropriation by Congress of $20,000 for seeds to the Southern flooded districts, 508,958 packages were sent, divided as follows: Vegetables, 414,886; field corn, 48,644; field peas, 26,957; field beans, 3,964; field millet, 14,348; field cotton, 159. The whole number of seeds sent out by the bureau during the year was by packages, 2,396,476. or these paekages 1,098,479 were sent out through members of Congress and senators, 7,588 through agrie cultural societies. $9,177 through statistical correspondents, 508,958 as above mentioned by special appropriation, and the balance, 552,274 packages to miscellaneous applicants. Of the total number of packages, 30,773 were cottons 97,951 wheat, 75,oats, 92,897 corn, 70,700 turnips, 179,452 flowers, 1,651,704 vegetables, 83,215 tobacco, 26,957 peas and 14,833 strawberry. These are the principal items. There were 107 kinds of vegetables, 15 kinds of wheat, 86 kinds of flowers, 13 kinds of corn and 19 kinds of sorghum. The proportion of I flower over grain packages is three to one. THE Co-operative Dress Association, at New York City, of which Kate Field was President, closed its store a few days since. g The assets were stated at $244,000; liabilities, $125,000. t

8. January 6, 1883 Huntsville Gazette Huntsville, AL
Article from Huntsville Gazette, January 6, 1883

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AT a meeting the other day of the creditors of J. A. & W. H. Sweeney, suspended bankers at New York, James A. Sweeney promised that every cent due should be paid.

9. January 6, 1883 St. Landry Democrat Opelousas, LA
Article from St. Landry Democrat, January 6, 1883

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LONG distance handicap racing has been introduced into the United States. In a contest of twelve hours, in Brooklyn, N. Y., the other day, thirty of the best runners of all nations participated. Norman Taylor won by a score of eighty-three miles. AT meeting the other day of the creditors of J. A. & W. H. Sweeney, suspended bankers at New York, James A. Sweeney promised that every cent due should be paid. FIFTY Spiritualists residing in Trantenau, Bohemia, were recently summoned before a magistrate, and the local press urged the Minister of the Interior to institute an inquiry on the subject of spiritualism. ALL differences between the manufacturers and employes in the shoe trade at Cincinnati, o., with reference to the schedule of wages for the six months ending June 20 next were amicably adjusted a few days ago by a board of arbitration. FOR the five months which ended with November last, the number of immigrants arriving in the United States was 244,611, against 291,320 for the corresponding term in 1881-3 falling off of 46,709. For the month of November last the arrivals numbered 40,625, and in November, 1881, the figures were 51.586-showing a reduction of 10,961. In the five months this year, Great Britain and Ireland sent 59,49J of their people, or 13,122 less than last year. Germany's quota for the same term this year was 84,307. Last year it was 100,479, the reduction this year being 16,172. From Sweden and Norway the arrivals in the five months of 1882 were 6,836 less than in the same months for 1881; while Canada sent 35,259 in the period named for 1882, and only 31,471 in 1881. No other country named in the returns gave us more people this year than last. THE Commissioner of Agriculture, in his report to Congress relative to the work of his department, makes a formidable exhibit of the distribution of seeds alone. Under the special appropriation by Congress of $20,000 for seeds to the Southern flooded districts, 508,958 packages were sent, divided as follows: Vegetables, 414,886; field corn, 48,644; field peas, 26,957; field beans, 3,964; field millet, 14,348; field cotton, 159. The whole number of seeds sent out by the bureau during the year was by packages, 2,396,476. Of these packages 1,098,479 were sent out through members of Congress and senators, 7,588 through agricultural societies, 269,177 through statistical correspondents, 508,958 as above mentioned by special appropriation, and the balance, 552,274 packages to miscellaneous applicants. Of the total number of packages, 30,773 were cottonseed, 97,951 wheat, 75,274 oats, 92,897 corn, 70,700 turnips, 179,432 flowers, 1,651,704 vegetables, i 83,215 tobacco, 26,957 peas and 14,835 strawberry. These are the principal items. There were 107 kinds of vegetables, 15 kinds of wheat, 66 kinds of flowers, 13 kinds of corn and 19 kinds of sorghum. The proportion of flower over grain packages is three to one. THE Co-operative Dress Association, at New York City, of which Kate Field was President, closed its store a few days since. The assets were stated at $244,000; liabilities, $125,000.

10. January 11, 1883 Iron County Register Ironton, MO
Article from Iron County Register, January 11, 1883

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AT a meeting the other day of the ereditors of J. A. & W. H. Sweeney, suspended bankers at New York, James A. Sweeney promised that every cent due should be paid.