16061. Knickerbocker Savings Institution (New York, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 16, 1859
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini
Short Digest
15722027

Response Measures

None

Description

Newspaper notices from April–June 1859 announce the United States Trust Company as Receiver of the Knickerbocker Savings Institution and payment of a final dividend after converting remaining assets to cash. No article describes a depositor run; the bank is in receivership and appears permanently closed. I set bank_type to unknown because the name indicates a savings institution but the charter type isn't specified in the clippings.

Events (2)
1. April 16, 1859 Receivership
Newspaper Excerpt
The United States Trust Company of New York, Receiver of the Knickerbocker Savings Institution ... gives notice that a third and final dividend of two and one-half per cent ... Dated April 16, 1859. JOSEPH LAWRENCE, President. JOHN A. STEWART, Secretary . . . Receiver of the Knickerbocker Savings Institution, having converted all the remaining assets of said institution into cash ... will be paid by the Receiver ... from the 18th to the 30th of April, 1859.
Source
newspapers
2. April 16, 1859 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Institution in receivership; assets converted to cash and final dividend declared, indicating insolvency or failure leading to suspension/closure.
Newspaper Excerpt
The United States Trust Company of New York, Receiver of the Knickerbocker Savings Institution, having converted all the remaining assets of said institution into cash, hereby gives notice that a third and final dividend ... Dated April 16, 1859.
Source
newspapers

Newspaper Articles (6)
1. April 17, 1859 The New York Herald New York, NY
Article from The New York Herald, April 17, 1859

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Article Text

TOHN B. MURRAY & CO., BANKING, DISCOUNT AND COLLECTING HOUSE, No. 40 WALL STREET, NEW YORK CITY. Orders from correspondents promptly executed. NICKERBOCKER ICE COMPANY'S OFFICE, NO. 432 K Canal street, N, Y., April 12, 1859 We, the undersigned, inspectors of election for nine trustees of the Knickerbocker Ice Company of the city of New York, and also for three inspectors of the election for said company, held at their office, 432 Canal street, in said city, on the second Tuesday (12th) of April, eighteen hundred and fifty nine, between the hours of 12 and 1 P. M., in pursuance of the by-laws of said company, do hereby certify that the total number of shares voted on at said election was six thousand and ninetythree, of which number of votes Messra Richard T. Comptoa, Horace Dennett, Cornelins R. Wortendyke, Joseph Britton, Alfred Barmore, Moses G. Leonard, Theodore Browning, Anthony Compton and Samuel Hiscox received each an equal number. And we further certify that the abovenamed persons were duly elected trustees of said company for the ensuing year. they having each received the greatest number of votes.cas at said election. t Also, the following named persons were duly elected inspecters of election for the next election for trustees of said company, they having each received the greatest number of votes said election:-David D. Egan, C.Stephens and G. Cohen. GERSHON COHEN, DAVID D. EGAN, Inspectors. C. STEPHENS, At a meeting of the Board of Trustees of the Knickerbocker Ice Company elected on the 12th instant, held at their office, 432 Canal street, 14th April, 1859. On motion the Board proceeded to elect a President and Secretary for the ensuing year, when. after balloting, Mr. R. T. Compton was unanimously elected President, and Mr. Wm. J. Wilcox unanimously elected Secretary. Mr. Wm. J. Wiloox tendered his resignation as Secretary of the Board, which was accepted; whereupon a committee was appointed. who reported the following resolution:Resolved. That as our former Secretary, Win. J. Wilcox, now retires from the active business walks of life, and declines a re-election to the office that he has filled with us for the past four years, we, the Trustees of the Knickerbocker Ice Company, gladly take this opportunity to express our kindest regards towards that gentleman, thankful that the past connection has been of no pleasant a character to us: and assure him that, as he now sees fit voluntarily to retire to the more peaceful purguits of the farmer's life, we heartily trust that his happiness will thereby be promoted, and that he will always recur with unalloyed pleasure to that portion of the past spent in the comnection, which is by his own act this day dissolved. THEO. BROWNING, JAS. BRITTON, Committee. A. BARMORE, MOSES G. LEONARD, The above resolution was unanimously adopted. On motion. of Moses G. Leonard, the Board now proceeded to elect a Secretary in place of Wm. J. Wilcox, resigned, when Cornellus R. Wortendyke was unanimously elected Secretary for the ensuing year. By order of the Board. R. T. COMPTON, President. C. R. WORTENDYRE, Secretary. FFICE OF FULTON FIRE INSURANCE COMPANY, 40 O Wall street.-The board of directors of this company have this day declared a semi annual dividend of ten per cent payable on demand. JAMES M. RANKIN, Secretary. NEW YORK, April 12, 1859. T° KNICKERBOCKER SAVINGS INSTITUTION DEpositore.-The United States Trust Company of New York, Receiver of the Knickerbocker Savings Institution, having converted all the remaining assets of said instituti in into cash, hereby gives notice that a third and final dividend of two and one-half (23/2) per cent on ascertained claims against said Savings Institution will be paid by the Receiver, in the basement et the marble building No. 73 Cedar street, between the hours of 9 A. M. and 3 P. M, from the 18th to the 30th of April, 1859. All depositors who have proved their claims since the last dividend was declared will be entitled to receive the amount of previous dividends at the same time. Dated April 16, 1859. JOSEPH LAWRENCE, President. JOHN A. STEWART, Secretary. $200.000.-MONEY TO for a LEND term of ON five BOND years. in AND any sum from $1,000 to $60,000, to suit applicants, on improved

2. April 18, 1859 The New York Herald New York, NY
Article from The New York Herald, April 18, 1859

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Article Text

KNICKRRBOCEER SAVINGS INSTITUTION DE. entors - The The United States Trust Company of New Receiver of the Enickerbocker Savings Institution. havnverted all the remaining assets of said institute n into ereby gives notice that a third and final dividend of two half (2%) per cent on ascertained claims against said Institution will be paid by the Receiver, in the base the marble building NO. 73 Cedar street, bet ween the A. M and 3 P. M, from the 18th to the 30th of april, - il dep: sitors who have proved their claims since the vidend was declared will be entitled to receive the of previous dividends as the same time. Dated April JOSEPH LA W RENCE, President A. STEWART, Secretary.

3. April 18, 1859 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, April 18, 1859

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Article Text

The United States Trust Company of New-York, as Receiver of the Knickerbocker Savings Institution, anrounce in another column & third and final dividend s of 21 cent to the creditors of said Savings Institution, making the aggregate dividends 861 cent, payable on the 18th inst. at No 73 Cedar street. Tre cash assets and liabilities of the New-Orleans Barks on the 9th of April were as follows:

4. June 6, 1859 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, June 6, 1859

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Article Text

To KNICKERBOCKER SAVINGS INSTITUTION DEPOSITORS.-The United States Trust Company of New. York, Receiver of the Knickerbocker Savings Institution, having converted all the remaining assets of said institution into cash, hereby give notice that a third and final dividend of two and one-half (2) per cent on ascertained claims against said Savings Institution will be paid by the Receiver, No. 48 Wali-at., between the hours of 10 a m. and Sp.m. All depositors who have proved their claims since the last dividend was declared, will be entitled to receive the amount of previeue dividends at the same time. - Dated April 16, 1859. JOSEPH LAWRENCE, President. JeHN A. STEWART Secretary.

5. June 13, 1859 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, June 13, 1859

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Article Text

TOKNICKERBOCKERSAYINGS INSTITUCompany of New-York, Receiver of the Knickerbocker Savings Institution, having converted all the remaining assets of said institution into cash, hereby give notice that a third and final dividend x two and one-half (21) per cent on ascertained claims against said Sevings Institution will be paid by the Receiver, No. 48 Wall-st., between the bours of 10 a m. and 3p, m. All depositors who have proved their claims since the last dividend was declared, will be entitled to receive the amount of previous dividends at the same time.-Dated April 16, 1859. JOSEPH LAWRENCE, President. JeHN A. STEWART, Secretary.

6. June 16, 1859 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, June 16, 1859

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Article Text

INSTITUCompany of New-York, Receiver of the Knickerbocker Savings Institution having converted all the remaining assets of said institution into cash, hereby give notice that a third and final dividend of two and ene-half (2) per cent on ascertained claims against said Sev. lugs Institution will be paid by the Receiver, No. 48 Wall-oth between the bours of 10 . m. and 3 p. m. All depositors who have proved their claims since the last dividend was declared, will be entitled to receive the amount of pro vious dividende at the same time-Dated April 16, 1859. JOSEPH LAWRENCE, President. JeHN A. STEWART, Secretary.