16045. Juan M. Ceballos & Co. (New York, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
private
Start Date
October 10, 1906
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini
Short Digest
f341ef4d

Response Measures

None

Description

Multiple contemporary articles report that Juan M. Ceballos & Co., a banking and commission house in New York, failed and an assignment (receiver) was made after Manuel Silveira, a Havana agent/partner, absconded with ~ $1,000,000. No articles describe a depositor run prior to suspension; a receiver (W. V. Rowe) is repeatedly mentioned, indicating permanent closure. Date inferred from text: failure occurred on Wednesday prior to Oct 11–12, 1906 (interpreted as 1906-10-10).

Events (2)
1. October 10, 1906 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Partner/agent Manuel Silveira allegedly absconded with more than $1,000,000 (including $600,000 in Cuban treasury warrants), causing the firm's failure and assignment to a receiver (W. V. Rowe).
Newspaper Excerpt
the assignment in this city of the banking and commission house of Juan M. Ceballos & Co., which failed on Wednesday last with liabilities between $3,000,000 and $4,000,000.
Source
newspapers
2. October 11, 1906 Other
Newspaper Excerpt
Cablegrams to all ports in the world were sent out today asking the authorities to keep watch for Manuel Silveira, the Havana banker, who is accused of having absconded with more than $1,000,000, thereby causing the assignment ... of Juan M. Ceballos & Co.. William V. Rowe, receiver of the wrecked firm is named in reports.
Source
newspapers

Newspaper Articles (10)
1. October 12, 1906 The Salt Lake Tribune Salt Lake City, UT
Article from The Salt Lake Tribune, October 12, 1906

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Article Text

RED-HOT CHASE AFTER BIG BANK DEFAULTER No Trace Has Yet Been Found of Manuel Silveira, Who Caused Great Failure. NEW YORK, Oct. I1.-Cablegrams to all ports in the world were sent out today asking the authorities to keep watch for Manuel Silveira, the Havana banker, who is accused with having abseconded with more than $1,000,000, thereby causing the assignment in this city of the banking and commission house of Juan M. Ceballos & Co., which failed on Wednesday last with liabilities between $3,000,000 and $4,000,000. It was announced here today that Silveira is not on board the steamer Carmelina. in which he and his family sailed from Havana It was said that the present whereabouts of the Carmelina are known and that the destination of the other steamer, to which it is said Silveira and his family were transferred two days out from Havana, has been ascertained. William V. Rowe, receiver of the wrecked firm, said today that every effort was being made to apprehend Silveira, who, he said, was a close personal friend of President Castro of Venezuela and had important financial relations with the head of the South American Republic. Detectives have been employed to run down Silveira, Mr. Rowe said, and their opinion is that the Cuban banker will strain every nerve to reach Venezuela. It is understood that detectives have already sailed from New York for Havana, from which city they will take up the search for Silveira. Took Cuban Cash. William Nelson Cromwell, of Cromwell, and Sullivan, counsel for the receiver of Ceballos & Co., today stated that the money taken by Silveira included $600,000 which he had collected from the Cuban Government on treasury warrants. Ceballos & Co. were heavy purchasers of these warrants, which were issued to the Cuban vet erans after the close of the SpanishAmerican war. Some $300,000 additional uncollected warrants were found in Silveira's safe, acording to advices received today by the Ceballos firm from Jose Beola, who is acquitted of any knowledge of Silveira's alleged wrong-doing. Another cable received from Beola today indicated that the amount alleged to have been taken from Ceballos In by Silveira is about $1,000,000. addition to this $200,000 in outside liabilities are reported. That Silveira planned his sudden departure with much care is evidenced by the fact that the partner received a letter five days after the sailing of the Carmelina. This letter was delivered by messenger and stated that he (Silveira) had departed for parts unknown.

2. October 12, 1906 The Montgomery Advertiser Montgomery, AL
Article from The Montgomery Advertiser, October 12, 1906

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Article Text

AFTER SILVEIRA. Thought That Cuban Looter Has Fled to Castro. New York,Oct. 11.-Cablegrams to all ports in the world were sent out today asking the authorities to keep watch for Manuel Silveira, the Havana banker. who is accused of having abseconded with more than $1,000,000. thereby causing the assignment in this city of the banking and commission house of Juan M. Ceballos & Co., who failed on Wednesday with liabilities between $3,000,000 and $4,000,000 It was announced here today that Silverra is not on board the steamer Carmelina in which he and his family sailed from Hayana It is said that the present whereabouts of the Carmelina are known and that the destination of the other steamer to which it is said Silvetra and his family were transferred two days out from Havana has been ascertained W V. Rowe. receiver of the wreck. ed firm. said today that every effort was being made to apprehend Silveira. who. be said was it close personal friend if President Castro of Venezuela and had important financial relations with the head of the South American Republic Detectives have been employed to run down Silvetra, Mr. Rowe said. and their opinion is that the Cuban banker will strain everv nerve to reach Venezuela William Nelson Crowwell of from. well & Sullivan counsel for the receiver of Ceballos & Co. today stated that the money taken by Silveira included $600.000 which he had collected from the Cuban Government on treas.

3. October 12, 1906 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, October 12, 1906

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Article Text

New York, October 11.-Cablegrams to all parts in the world were sent out today asking the authorities to keep walch for Manuel Silveira, the Havana banker who is accused of having absconded with more than $1,000,000, thereby causing the assignment in this city of the banking and commission house of Juan M. Ceballos & Co., who failed on Wednesday with liabilities between $3,000,000 and $4,000,000. It was announced here today that Silveira is not on board the steamer Carmelina in which he and his family sailed from Havana. It is said that the present whereabuts of the Carmelina are known and that the destination of the other steamer to which it is said Silveira and his family were transferred two days out from Havana, has been ascertained. W. V. Rowe, receiver of the wrecked firm, said today that every effort was being made to apprehend Silveira who he said was a close personal friend of President Castro of Venezuela. and had important financial relations with the head of the South American republic. Detectives have been employed to run down Silveira, Mr. Rowe said, and their opinion is that the Cuban banker will strain every nerve to reach Venezuela,

4. October 12, 1906 The Jersey City News Jersey City, NJ
Article from The Jersey City News, October 12, 1906

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Article Text

NO TRACE OF SILVEIRA Officials In All Ports Asked to Keep Watch For Defaulting Havana Banker. NOT ON BOARD CARMELINA Absconder Who Caused $4,000,000 Failure Left Vessel When She Was Two Days Out From Cuban Capital-May Have Gone to President Castro of Venezuela. New York, Oct. 12.-Cablegrams to all ports in the world have been sent out asking the authorities to keep watch for Manuel Silveira, the Havana banker, who is accused of having abseonded with more than $1,000,000, thereby causing the assignment in this city of the banking and commission house of Juan M. Ceballos & Co., which failed, with liabilities of between $3 000,000 and $4,000,000. It was announced that Silveira is not on board the steamer Carmelina, in which he and his family sailed from Havana. It was said that the present whereabouts of the Carmelina are known and that the destination of the other steamer to which it is said Silveira and his family were transferred two days out from Havana has not been ascertained. May Be In Venezue!a. William V. Rowe, receiver of the wrecked firm, said that every effort was being made to apprehend Silveira, who, e said, was a close personal frien& of President Castro of Venezuela and had important financial relations with the head of that South American republic. Detectives have been employed to run down Silveira, Mr. Rowe said, and their opinion is that the Cuban banker will strain every nerve to reach Venezuela. It is understood that detectives have already sailed from New York to Havana, from which city they will take up the search for Silveira. William Nelson Cromwell of Cromwell & Sullivan, counsel for the receiver of Ceballos & Co., said that the money taken by Silveira included $600,000 which he had collected from the Cuban government on treasury warrants. Ceballos & Co. were heavy purchasers of these warrants, which were issued to the Cuban veterans after the close of the Spanish-American war. Some $300,000 additional uncollected warrants were found in Silvetra's safe, according to advices received by the Ceballos, firm from Havana. Told Partner of Departure. That Silveira planned his sudden departure with much care is evidenced by the fact that the partner, Jose Beola, received a letter, five days after the sailing of the Carmelina. This letter was delivered to Beola by messenger and stated that he (Silveira) had departed for parts unknown. Beola is not suspected of wrongdoing. Sllveira is said to have financed the Cuban revolution in the hope that the overthrow of the Palma government would net him rich profits. When the revolution failed through the intervention of the United States he saw all his pet plans tumbling like a house of cards about him. It was then, it is stated, that he determined to save what he could of the wreck.

5. October 12, 1906 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, October 12, 1906

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LOOTED THE STATE Absconding Havana Banker Col lected $600,000 Warrants From Cuba. OVER THEFTS $1,000,000 Believed to Be Headed for VenezuelaClose Friend of President Castro. New York, Oct. 12.-Cablegrams to all ports of the world have been sent out asking the authorities to keep watch for Manuel Silveira, the Havana banker who is accused of having absconded with more than $1,000,000, thereby causing the assignment in this city of the banking and commission house of Juan M. Ceballos & Co., which failed on Wednesday last with liabilities between $3,000,000 and $4,000,000. May Land in Venezuela. William V. Rowe, receiver of the wrecked firm, said that every effort was being made to apprehend Silveira, who, he said, was a close personal friend of President Castro of Venezuela and had important financial relations with the head of the South American republic. Detectives have been employed to run down Silveira, Mr. Rowe said, and their opinion is that the Cuban banker will strain every nerve to reach Venezuela. It is understood that detectives have already sailed from New York to Havana, from which city they will take up the search for Silveira. Collected From Government. William Nelson Cromwell of Cromwell & Sullivan, counsel for the receiver of Ceballos & Co., states that the money taken by Silveira included $600, 000 which he had collected from the Cuban government on treasury warrants. Ceballos & Co. were heavy purchasers of these warrants, which were issued to the Cuban veterans after the close of the Spanish-American war.

6. October 12, 1906 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, October 12, 1906

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Article Text

HEADING SILVEIRA FOR VENEZUELA. Banker Who Levanted With More Than a Million Is a Friend of President Castro DETECTIVES ON TRAIL NEW YORK, Oct. -Cablegrams to all ports in the world were sent out today asking the authorities to keep watch for Manuel Silveira, the Havana banker who is accused of having abseconded with more than $1,000,000, thereby causing the assignment in this city of the banking and commission house of Juan M. Ceballos & Co., which failed on Wednesday last with liabilities between $3,000,000 and $4,000,000. It was reported today that Silveira is not on board the steamer Carmelina, in which he and his family sailed from Havana. It was said that the present whereabouts of the Carmelina is known and that the destination of the other steamer, to which it is said Silveira and his family were transferred two days out from Havana, has been ascertained. William V. Rowe, receiver of the wrecked firm, said today that every effort was being made to apprehend Silveira, who, he said, was a close personal friend of President Castro of Venezuela and had important financial relations with the head of the South American republic. Detectives have been employed to run down Silveira, Rowe said, and their opinion is that the Cuban banker will strain every nerve to reach Venezuela. It is understood that detectives have already salled from New York for Havana, from which city they will take up the search for Silveira. William Nelson Cromwell of Cromwell & Sullivan, counsel for the recelver of Ceballos & Co., today said that the money taken by Silveira included $600,000 which he had collected from the Cuban Government on treasury warrants. Ceballos & Co. were heavy purchasers of these warrants, which were issued to the Cuban veterans after the close of the SpanishAmerican war. Some $300,000 additional uncollected warants were found in Silveira's safe, according to advices received today by the Ceballos firm from Jose Beola, who is acquitted of any knowledge of Silveira's alleged wrongdoing Another cable received from Beola today indicates that the amount alleged to have been taken from Ceballos by Sliveira is about $1,000,000. In addition to this $200.000 in outside liabilities are reported. That Silveira planned his sudden departure with much care is evidenced by the fact that the partner, Beola, recelved a letter five days after the sailing of the Carmelina. This letter was delivered to Beola by messenger and stated that he (Silveira) had departed for parts unknown.

7. October 12, 1906 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, October 12, 1906

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SILVEIRA HAD PLANNED FLIGHT No Trace of the Cuban Banker Who Caused Failure of Ceballos & Co. POSSIBLY IN VENEZUELA FUGITIVE A FRIEND OF PRESIDENT CASTRO. New York, Oct. 11.-Cablegrams to all ports in the world were sent out today asking the authorities to keep watch for Manuel Silveira, the Havana banker, who is accused of having absconded with more than one million dollars, thereby causing the assignment in this city of the banking and commission house of Juan M. Ceballos & Co., which failed on Wednesday last with liabilities between $3,000,000 and $4,000,000. It was announced here today that Silveira is not on board the steamer Carmelina, in which he and his family sailed from Havana. It was said that the present whereabouts of the Carmelina are known and that the destination of the other steamer. to which it is said Silveira and his family were transferred two days out from Havana, had been ascertained. A Friend of Castro. William V. Rowe, receiver of the wrecked firm, said today that every effort was being made to apprehend Silveira, who, he said, was a close personal friend of President Castro of Venezuela and had important financial relations with the head of the South American republic. Detectives have been employed to run down Silveira, Mr. Rowe said, and their opinion is that the Cuban banker will strain every nerve to reach Venezuela. It is understood that detectives have already sailed from New York for Havana, from which city they will take up the search for Silveira. Money Taken by Silveria. William Nelson Cromwell of Cromwell & Sullivan, counsel for the receiver of Ceballos & Co., today stated that the money taken by Silveira included $600,000. which he had collected from the Cuban government on treasury warrants. Ceballos & Co. were heavy purchasers of these warrants, which were issued to the Cuban veterans after the close of the Spanish-American war. Some $300,000 additional uncollected warrants were found in Silveira's safe, according to advices received today by the Ceballos firm from Jose Beola, who is acquitted of any knowledge of Silveira's alleged wrongdoing. Partner Innocent. Another cable received from Beola today indicated that the amount alleged to have been taken from Ceballos by Silveira is about $1,000,000. In addition to this $200,000 in outside liabilities are reported. That Silveira planned his sudden departure with much care is evidenced by the fact that the partner, Beola, received a letter five days after the sailing of the Carmelina. This letter was delivered to Beola by messenger and stated that he (Silveira) had departed for parts unknown.

8. October 13, 1906 The Pensacola Journal Pensacola, FL
Article from The Pensacola Journal, October 13, 1906

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HOT ON TRAIL OF ABSCONDING BANKER Wires to All Parts of the World Kept Hot Trying To Locate Him. New York, Oct. 12.-Cablegrams to all ports in the world were sent out to-day asking the authorities to keep watch for Manuel Silveira, the Havana banker, who is accused of having absconded with more than $1, 000,000, thereby causing the assignment in this city of the banking and commission house of Juan M. Ceballos & Co., who failed on Wednesday with liabilities between $3,000,000 and $4,000,000. It was anounced here to-day that Silveira is not on board the steamer Carmelina in which he and his family sailed from Havana. It is said that the present whereabouts of the Carmelina are known, and that the destination of the steamer to which it is said Silveira and his family were transferred two days out from Havana, has been ascertained. W. V. Rowe, receiver of the wrecked firm, said to-day that every effort was being made to apprehend Silveira, who, he said was a close personal friend of President Castro, of Venezuela, and had important financial relations with the head of the South American Republic. Detectives have been employed to run down Silveira, Mr. Rowe said, and their opinion is that the Cuban banker will strain every nerve to reach Venezuela. William N. Cromwell, of Cromwell & Sullivan, counsel for the receiver of Ceballos & Co., to-day stated that the money taken by Silveira included $600,000 which he had collected from the Cuban government on treasury warrants. Ceballos & Co. were heavy purchasers of these warrants, which were issued to the Cuban veterans after the close of the Spanish-American war. Some $300,000 additional uncollected warrants were found in Silveira's safe, according to advices received to-day by the Ceballos firm from Jose Beola, who is acquitted of any knowledge of Silveira's alleged wrongdoing. Another cable received from Beola to-day indicated that he total amount alleged to have been taken from Cebaltos by Silveira is about $1.000,000. In addition to this $200,000 in outstanding liabilities are gone.

9. October 18, 1906 The Mena Weekly Star Mena, AR
Article from The Mena Weekly Star, October 18, 1906

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salled for Take up the Search for the Missing Agent. New York, Oct. 13.-Cablegrams to all ports in th eworld were sent out Thursday asking the authorities to keep watch for Manuel Silviera, the Havana banker, who is accused of having absconded with more than $1,000,000, thereby causing the assignment in this city of the banking and commission house of Juan M. Ceballos & Co., which failed on Wednesday last with liabilities between $3,000,000 and $4,0000,000. Wm. V. Rowe, receiver of the wrecked firm, said Thursday that every effort was being made to apprehend Silviera, who, he said, was a close personal friend of President Castro of Venezuela, and had important financial relations with the head of the South American republic. Detectives have been employed to run down Silviera, Mr. Rowe said, and their opinion is that the Cuban banker will strain every nerve to reach Venezuela. It is understood that detectives have already sailed from New York to Havana, from which city they will take up the search for Silviera. William Nelson Cromwell of Cromwell & Sullivan, counsel for the receiver of Ceballos & Co., Thursday stated that the money taken by Silviera included $600,000 which he had collected from the Cuban government on treasury warrants. Ceballos & Co. were heavy purchasers of these warrants which were issued to the Cuban veterans after the close of the Spanish-American war. Some $300, 000- additional uncollected warrants were found in Silviera's safe according to advices received Thursday by the Ceballos firm from Jose Beola, who is acquitted of any knowledge of Silviera's alleged wrong doing: Another cable received from Beola Thursday indicated that the amount alleged to have been taken from Ceballos by Silviera is about $1,000,000. In addition to this $200,000 in outside liabilities are reported. That Silviera planned his sudden departure with much care is evidenced by the fact that the partner, Beola, received a letter five days after the sailing of the Carmelina. This letter was delivered to Beola by messenger and stated that he (Silviera) had departed for parts unknown. New York, Oct. 13.-For the first time since the announcement of failure, Juan M. Ceballos, senior member of the firm of J. M. Ceballos & Co., broke his silence regarding Silveira and the failure. Of Silveira he said: "All he was in the world I made him. I trusted him and ne betrayed my confidence." Mr. Ceballos denied the stories circulated that his firm had bought warrants for claims in the last Cuban war, for from six to ten cents on the dollar. He said that all he had purchased from Silveira he had paid 80, 85 and 95 cents on the dollar for. Mr. Ceballos gave as his opinion that Silveira was in Venezuela or on his way to that country.

10. October 18, 1906 Cameron County Press Emporium, PA
Article from Cameron County Press, October 18, 1906

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A WORLD-WIDE QUEST. It Is Being Made for a Havana Banker Who Stole $1,000,000. New York. - Cablegrams to all ports in the world were sent out Thursday asking the authorities to keep watch for Manuel Silveira, the Havana banker, who is accused of having absconded with more than $1,000,000, thereby causing the assignment in this city of the banking commission house of Juan M. Ceballos & Co., which failed on Wednesday with liabilities of between $3,000,000 and $4,000,000. It was announced here Thursday that Silveira is not on board the steamer Carmelina, on which he and his family sailed from Havana. It was said that the present whereabouts of the Carmelina are known and the destination of the other steamer to which it is said Silveira and his family were transferred two days out from Havana has been ascertained. William V. Rowe, receiver of the wrecked firm, said that every effort was being made to apprehend Silveira, who, he said, was a close personal friend of President Castro, of Venezuela, and had important financial relations with the head of the South American republic. Detectives have been employed to run down Silveira and their opinion is that the Cuban banker will strain every nerve to reach Venezuela.