Mechanics & Traders Savings Institution

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: December 14, 1879
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: 46a67104

Response Measures

None

Description

The article (NY Herald 1879-12-14) refers to the Mechanics & Traders' Savings Institution as a broken bank and groups it with other suspended banks seeking dividends — indicating it had suspended and remained closed/insolvent with assets in hands of receivers. No run is described in the text. Date of suspension not given in this article.

Events (2)

1. December 14, 1879 Other

Newspaper Excerpt: Should one be declared now, when the holidays are coming, it would bring much cheer and happiness to many poor homes.
Source: newspapers

2. * Suspension

Cause Details: Article simply describes the bank as broken/suspended; no cause or triggering event is given.
Newspaper Excerpt: I am one of the many unfortunate victimy who had their earnings in the following broken banks: Mechanics and Traders' Savings Institution, 283 Bowery
Source: newspapers

Newspaper Articles (1)

1. December 14, 1879 The New York Herald New York, NY

Article from The New York Herald, December 14, 1879

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Article Text

WHO KNOWS? To THE EDITOR OF THE HERALD:Is it not about time that Receiver Brooks gave the depositors a statement as to the probabilities of s dividend from the assets of the late Clairmont Savings Bank, which suspended over two years ago? A VICTIM. To THE EDITOR OF THE HERALD:I am a depositor in the Third Avenue Siviugs Bank. I received a dividend of fifteen per cent in 1876 and am auxious to know if there is any prospect of my receiving any more money in return for the $700 I threw away by depositing it? CONSTANT READER. To THE EDITOR OF THE HERALD: I am one of the many unfortunate victimy who had their earnings in the following broken banks:Mechanics and Traders' Savings Institution, 283 Bowery, and the Sixpenny Savings Bank, Astor place. I and my unfortunate fellow suffering depositors would feel most grateful if you could throw some light on when we are going to get auother dividend from the above banks. Should one be declared now, when the holidays are coming. it would bring much cheer and happiness to many T. F.O. poor homes.