Third National Bank - New York, NY

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 87
Charter Number: 87
Start Date: November 27, 1879
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: 504cdb3f

Response Measures

None

Description

No run is described. Articles report the Third National failed to honor a draft and suspended payments (article dated 1880-06-25) and earlier reporting (1879-11-27) indicates moves toward placing the bank in the hands of a receiver amid disputes and a proposed voluntary liquidation; cashier reportedly sailed for Europe and a previously reported surplus was false. Sequence indicates suspension followed by receivership/closure due to bank-specific adverse information.

Events (2)

1. November 27, 1879 Receivership

Newspaper Excerpt: The Comptroller of the Currency will uphold Mr. Hardenbergh in his protest, and promises his interference with the scheme of voluntary liquidation proposed by Cashier Jordan ... The bank will in all probability be placed in the hands of a receiver.
Source: newspapers

2. June 25, 1880 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Failed to honor a draft due to lack of funds; last statement's surplus said to be false; cashier had sailed for Europe (suggesting insolvency or malfeasance).
Newspaper Excerpt: The Third National of New York failed to honor its draft for lack of funds to protect it, hence the suspension.
Source: newspapers

Newspaper Articles (2)

1. November 27, 1879 The New York Herald New York, NY

Article from The New York Herald, November 27, 1879

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Article Text

MR. VOORHIS' BROKEN BANK. President Hardenbergh, of the Hudson County Bank, and assignee of the Voorhis estate, is now erfgaged in contesting the right of Mr. Jordan, cashier of the Third National Bank, of New York, to vote at the recent meeting of stockholders, under a power of attorney given him by Mr. Voorhis after the latter had made an assignment to Mr. Hardenbergh. The matter has been submitted to eminent counsel in New Jersey and a decision is expected from them in the course of a few days. Mr. Voorhis owned over 500 shares of the bank stock, all or which has been hypothecated with other banks as security for loans. Under the stipulations of the National Banking Act, Mr. Voorhis is unquestionably disqualified from voting himself or giving a power of attorney to any one else. It is now understood that the Comptroller of the Currency will uphold Mr. Hardenbergh in his protest, and promises his interference with the scheme of voluntary liquidation proposed by Cashier Jordan, and adopted by both stockholders and directors. The bank will in all probability be placed in the hands of a receiver.

2. June 25, 1880 Public Ledger Memphis, TN

Article from Public Ledger, June 25, 1880

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Article Text

PUBLIC LEDGER OFFICE, MEMPHIS. TENN. June 25, 1880. } The supply of money is ample and discounts continue to be quoted at 6 to 8 per cent on short dated prime commercial paper. But little is doing in the open market, though it is understood that capital is seeking investment, and that all solvent securities meet ready sale at full prices whenever offered. Exchange is quoted at 1 to 10 off on eastern cotton bills and 10 premium for New York checks. New Orleans rates are par selling and lc off buying. The First National bank of Newark, N. J., which closed two weeks ago, has had its entire capital of $300,000 wiped out. The Third National of New York failed to honor its draft for lack of funds to protect it, hence the suspension. The last statement made in April, reported $62,000 surplus, and this is now said to have been a false showing. The cashier, who sailed for Europe a week or so before the suspension, has been asked by telegraph to return. The deposits and ciroulation are said to be safe.