North River Bank - New York, NY

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: December 1, 1875
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: 9c2d9742

Response Measures

Accommodated withdrawals

Description

Article (The Sun, 1875-12-01) describes an ongoing run on the North River Bank with depositors being paid out and the bank continuing to pay. No suspension, closure, or receivership is mentioned. Bank name contains no 'National' or 'Trust'; classified as state (not enough evidence for national or private). Cause not explicitly given in the article.

Events (1)

1. December 1, 1875 Run

Cause Details: Article does not specify a discrete trigger; notes large withdrawals and depositor anxiety but gives no clear rumor or bank-specific failure as cause.
Measures: Bank paid out deposits; officers stated bank would continue to pay until depositors were satisfied; about $100,000 paid out since Monday.
Newspaper Excerpt: The run on the North River Bank continued yesterday. ... At noon yesterday the number of depositors waiting to be paid was large. ... Mr. Stafford, the Vice President, said that the bank will continue pay until all are satisfied. About $100,000 been paid out since Monday morning.
Source: newspapers

Newspaper Articles (1)

1. December 1, 1875 The Sun New York, NY

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Article Text

50 500'001'1* RA ESPIRATED -$1,254,482 Real estate. cost $126,646.77 market value, $117,619.27. and standing on books at 919'981 Cash 00 deposit ID banks or trust comsapped $15.91 Cash on hand not deposited in bank 000'31 uonditions AJOAD JO 810880 JO munday not included under any of the above :speaq Interest accrued 29 111'21$ Judgment secured by real esR1 81 821'9 Suspense account 20 48T'68 Estimated value or real estate over cost 088 201$ -09 846'08 Total $2,644,381 L1 Amount due to depositor $2,427,664 o ner dabilities LEVOIL Excess of assets over liabilities OFS'49 Total 1881192$ According to the above there was. when report was made up, a surplus of $67,240.08. item of "suspense accounts." $39,127.07. repre senting money sunk in an Atlantic Mail vestment such as wrecked the Third nue Bank. is practically valueless, and said by the President to have been wined of the books. The "estimated value of real estate over cost" is another worthless item. and represents $20,972.50 of the so-called surplus. Instead of bringing an amount over its cost, it Is safe say that the bank lot and building would bring the $126,646.77. they are said to have cost Besides. $465,942.25 of the money of the deposi tors appears to have been paid out for bonds States other than New York, and worth in Janu ary last, according to the sworn bank statement $269,530. It appears from the same statement that the amount deposited during 1874 was $537, 651. and the amount withdrawn $948,829.51. cating a rapid decrease of deposits. The same r te of decrease continued through 1875 would leave the bank with $200,000 less of good money or good investments than appeared in the report. The run on the North River Bank continued yesterday. This bank holds no Southern bonds or other doubtful securities. and its statement of last year would indicate its ability to dollar for dollar. At noon yesterday the ber of depositors waiting to be paid was large. Behind the counter were stacks of green backs that the teller counted out as rapidly possible to depositors. Mr. Stafford, the Vice President. said that the bank will continue pay until all are satisfied. About $100,000 been paid out since Monday morning. There was also a run yesterday on the Frank Im Savings Bank, at Eighth avenue and Forty second street. The bank has assets amounting 10 $1,645,609.22. consisting of United States bond and bonds of cities, towns and counties in State, $63,000 of real estate. and a large amount Jo rueq zuome trojuido OUT, USED 10 ficials isthat the Franklin is A sound institution The officials of the People's Bank have