National Bank - New York, NY

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: July 27, 1867
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: e43eca0f

Response Measures

None

Description

Article (Wheeling Daily Register, 1867-08-02) reports 'The Pequonnock suspended ... July 27 Bridgeport, Conn.' and mentions an apparent embezzlement/absconding of the cashier for $50,000. OCR errors in the snippet were corrected (cashier name and amounts). No reopening or receivership is mentioned in the text, so classified as suspension_closure.

Events (1)

1. July 27, 1867 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Cashier apparently absconded after embezzling roughly $50,000, prompting suspension of the bank.
Newspaper Excerpt: The Pequonnock suspended ... July of 27 Bridgeport, Conn., ... offered ... $50,000, for the fugitive who absconded
Source: newspapers

Newspaper Articles (1)

1. August 2, 1867 The Wheeling Daily Register Wheeling, WV

Article from The Wheeling Daily Register, August 2, 1867

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Article Text

AND TRADE. FINANCE Commercial and embraces Financial some list National The suspensions following and failures 1865: of of Newthe Banks since January, Bank Mass., March 2. failed The with National liabilities amountHudton, ing to $110,000. -The National embezzlement Bank of March N. Y., discovered the amount an of $50,000. weeks son, by the cashier revived aft to r reseveral business. The concern and resumed National Bank of Me- of Mo., dina. suspension, March t- First failed with liabilities National 982,000. March of Baltimore, The Mechanics broke of defalcations, down from carried on the Bank effects for of a a long series time by twoofficers of the institution. Weedsport doors, (Cayuga its July 25. National The Bank closed County) $125,000. liabilities being National Bank its of liabil- Unaities July Otsego 20:-The County, failed. dilla, being $125,000. The Pequonnock suspended National July of 27 Bridgeport, Conn., a reward of $500 business Bank and offered cashier, W. Hamilton $50,000, for the fugitive who absconded with Barnum, Commerce New York Journal of of domes says: The The during possibility the elections soon from to troubles has deterred many operators and is occur, commencing fresh engagements, the dematerial effect upon through having mand for a goods After to the distribute election, if we politi- may West. settled, The the cal affairs are revival more of business. the corn hope for some hat vested, and in the and rye alike rejoice have been sky. dryer wheat not yet Even atmosphere matured, potatoes beneath great prevalence the sunny small and hard, owing to A the few such summer's all the of wet will weather. work wonders as for essential to financial snos crops. and and good commercial crops are prosperity as good government. Commerce, said: in The a late Milwaukee article upon Journal the of legal tender question, know that the constitu- it is We do of not the legal tender act. fairly as and tionality will ever be brought Court. We called. the Supreme of squarely have no wish before unsettle to see all it the done relations at present, to so as to and creditors as now adjusted sake of currency: but, for the we the paper as a its some time. hope that at have been debtors importance precedent, perhaps that restimed, august after do it specie payments before We will be brought solemn decision. tribunal for if this is done after Court believe that subsided, the verdict passion has its against the satisfaction popular act, will and pronounce will a give general never insisted that this people. We have order money to to the cannot leather, that Congress or stamped of paper, of its choice, be coined other substance a legal tender. or any the same under the always be made a and Constitution Webster declare nothing insisted but could that coius of gold but we tender for debt that question or legal silver, point waive we established, either and now. The never been assailed by present which reason has or argument, is stamped that the or coined as paper issues were merely not promises to pay money: money; and are want therefore of conformity show upon When to their this the face their requirement. is constitutional fairly considered from the pressure by the of Supreme doubt finan- in Court, excitement, free we have little regard cial to the decision. the The article following of the extract Age of is Wednesday speculative from money demand for money from continues moderately is comparative The borrowers but there little business. inquiry active, purposes of legitimate collaterals for loans are made on stock Call cent., and there are excep at 4a5 per transactions in large 3 sams per upon cent. tional securities at is readily government The best paper commercial annum dis6a7 per cent. per during placed at The dry goods market means count. week, although by no improvethe pasi has shown a material and unactive, the previous dullness ment from feeling. Considerable prepara- opensettled made for an early low tion is being The extremely ing of which prices have buyers, in a number of has for au from point brought to business. advance. been forced Trade who the intend holding demauds by orders been stimulated for coninterior has to supply still unchanged, is ment sumption. Prices are an early improve- to ruling very confidentive low, but looked forward by many statement of our Philadelphia indi The for the present week clearly prevalent banks the dullness in business items, cates season. All the leading than in at this legal tenders, are lower fell off except preceding report. Loans $830,769, and the specie, $8,626: deposits tenders $36,091; circulation $3,892. Legal