Third National Bank - New York, NY

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 87
Charter Number: 87
Start Date: May 21, 1897
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: 4d7aeb0d

Response Measures

None

Description

Multiple newspapers (May 21, 1897) report the Third National Bank of New York 'goes into liquidation' / 'will go into liquidation' and will turn over affairs to the City Bank which will pay depositors. There is no mention of a depositor run prior to suspension; the action is liquidation/retirement from business (voluntary/administrative closure). OCR errors in some articles (e.g., 'twelve million' printed as 'twelve million' or '12,000.00' in one) were noted but the May 21, 1897 date is consistent across sources.

Events (3)

1. September 21, 1863 Chartered

Source: historical_nic

2. May 20, 1897 Voluntary Liquidation

Source: historical_nic

3. May 21, 1897 Suspension

Cause: Voluntary Liquidation
Cause Details: Bank announced it 'goes into liquidation' / 'will go into liquidation' and will turn over affairs to the City Bank to pay depositors; described as retirement from business rather than suspension due to run or regulator action.
Newspaper Excerpt: The Third National bank of this city announces, this morning, that it goes into liquidation.
Source: newspapers

Newspaper Articles (6)

1. November 3, 1896 The Houston Daily Post Houston, TX

Article from The Houston Daily Post, November 3, 1896

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Article Text

HANNA'S HAND. Shuts Money Up or Lets It Loose At Will. A Panic Was Planned. New York, October -(Special to the Post-Dispatch.)-Developments of the past few days in the money market here are full of significance to the American people. The unscrupulous methods of Wall street were never better illustrated. It can be stated that the pegs were all set for a panic and the preliminary steps were taken Thursday when money was run up to 100 per cent on call without any apparent reason. The fact that the panic did not develop was due to Mark Hanna, who had political sagacity enough to see ruin ahead, and he issued orders to the bankers here which were promptly obeyed and the rate easily put down to 40 per cent. After the close of business Thursday, telegrams were sent to Chairman Hanna and other members of the republican National committee, informing them of the situation. A spirited interchange of telegrams and messages over the long-distance telephone was kept up until late in the evening. when Mr. Hanna sent word that the panic-breeders were making votes for Bryan by raising the rates for money and that they would have to be put down. Henry W. Cannon, president of the Chase National bank and chairman of the clearing house committee, undertook to clear the atmosphere. He called a meeting of half a dozen bank presidents at the Union League club and suggested that it would be a brilliant idea for the banks to offer their money in more liberal quantities for use on the Stock Exchange. James T. Woodward of the Hanover National bank, A. B. Hepburn, president of the Third National bank: Frederick D. Tappen of the Gallatin National bank. and J. Edward Simmons of the Fourth National are some of the gentlemen with whim Mr. Cannon discussed the situation. It was decided to send an agent on the stock exchange Friday to offer money down. In the meantime reassuring cables were sent to London. together with buying orders. and the bankers went home to await the opening here. The result was as might have been anticipated. The rate went down and the panic vanished. Conservative business men of all parties are now standing aghast at the enormous power here shown to be held by one man. What is to become of the business of the country. they ask, if a itical magnate can issue an order from Chicago to the Wall street financiers, and put the money rate either up or down and precipitate a panic or shut one off as may seem best to his judgment for the interests of his party? If it had suited Hanna's purposes, does anyone doubt that the scheme would have gone through. and that the country would have been plunged into utter dismay and ruin. and this without any other cause than the determination of a coterie of wealthy men here to dominate the finances of the United States without regard to results to the people? The danger has temporarily passed. but an object lesson has been given the American people which it will well behoove them to remember on election day.

2. May 21, 1897 Las Vegas Daily Optic Las Vegas, NM

Article from Las Vegas Daily Optic, May 21, 1897

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Article Text

STILL FAILING. Prosperity Seems to Have no Effect on HardPressed Banks. NEW YORK, N. Y., May, 21. The Third national bank of this city announced, this morning, that it will go into liquidation. It has $12,000.00 of deposits and claims solitiney. It will turn over its affairs Horow City bank, which will pay deposi our The City bank has $43,000,000 in assets. LAWRENCE, N. H., May 21.-The Lake village bank follows the Belknap savings bank and suspends. WASHINGTON, D. C., May 21.The failure of the State national bank of Logansport, Indiana, yesterday, was due to the management's loaning heavily to its president. BOSTON, Mass., May 21. -The Han. cock national bank goes into líquidation, to-day, and the Mercantile trust company takes charge of its affairs. WASHINGTON, D. C.,May 21.-Act. ing comptroller of the treasury, Coffin, was notified, this morning, that the First national bank of Orleans, Nebraska, had failed.

3. May 21, 1897 El Paso Daily Herald El Paso, TX

Article from El Paso Daily Herald, May 21, 1897

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Article Text

Bank Failures. NEW YORK, May 21.-The Third National bank of this city announces this morning that it goes into liquidation. It has twelve million dollars on deposit. and claims solvency. It will turn over to the City bank which will pay the depositors. The City bank has forty-three million in assets. LAWRENCE, N. H., May 21.- The Lake Village bank follows the Belknap Savings bank and has suspended. WASHINGTON, May 21.-The failure of the State National bank of Logansport, Indiana, was due to bad management and heavy loaning to the president. BOSTON, May 21.-The Hancock National bank goes into liquidation. The Mercantile Trust company takes charge of its affairs. WASHINGTON, May 21.-Acting Comptroller of the Treasury Coffin was notified this morning that the First National bank of Orleans, Neb., had failed.

4. May 26, 1897 The Ely Miner Ely, MN

Article from The Ely Miner, May 26, 1897

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Article Text

Failure is announced of the Miners' state bank of Cripple Creek, Col. Gov. Black, of New York, signed the bill providing the death penalty for train wreckers who cause death. The Belknap savings bank at Laconia, N. H., closed its doors with about $1,000,000 due depositors. A fire in Jersey City, N. J., caused a loss of $100,000 and made 60 families homeless. The rapid fall of the Mississippi river at all points from Memphis to the gulf gives notice that the flood of 1897 is over. The total area overflowed was: Arkansas, 3,200 square miles; Mississippi, 6,520 square miles; Louisiana, 975 square miles, and the total damage amounts to $14,520,000. The first public test of the acrograph, an instrument by which photographs may be instantaneously transmitted by wire, was successfully made in Cleveland, O. Albert W. King, a 19-year-old messenger of the Boylston national bank in Boston, was missing with about $20,000 in cash. Two children of Augustus Muetze, residing 12 miles from Redfield, S. D., were killed by lightning. Tramps fired the home of Thomas Biddle, a farmer at White Oak Creek, Tenn., and he and his wife and three children were cremated. The sixty-fifth annual meeting of the American Baptist Home Missionary society convened in Pittsburgh, Pa. The fourth annual banquet of the Associated Press was given in Chicago, 140 members being present. The State bank of Monticello, Ind., suspended payment. It had $135,000 in deposits. At Oakland, Cal., Lucretia Borgia, a four-year-old filly, broke the world's record for four miles, making the distance in 7:11. Terrific wind and rainstorms in Indiana did great damage at Indianapolis, Kokomo and Wabash. Fire at Hoboken, N. J., caused a loss of $650,000 and 150 families were rendered homeless. The National Good Citizens' convention at Nashville, Tenn., adopted a platform which seeks to unite all friends of good government, to promote the duty of good citizens, to contend for purity in politics and to make known to all the truth about the principles of American institutions. The State national bank of Logansport, Ind., closed its doors with liabilities of $300,000. The Randolph county courthouse at Beverly, W. Va., was destroyed by fire with all the official records for 100 years. The Third national bank of New York has decided to retire from business. The one hundred and ninth General Assembly of the Presbyterian church met at Eagle Lake, Ind. President McKinley will visit the Nashville exposition on June 12. Michigan will have no state fair this year. The treasury is bankrupt. A statue of Stephen Girard, the philanthropist and founder of Girard college, was unveiled in Philadelphia. Col. E. B. Gray, of Madison, was elected state commander of the G. A. R. at the annual encampment in Eau Claire, Wis. A statue of the late Cornelius Vanderbilt, "the commodore," was unveiled on the campus of Vanderbilt university at Nashville, Tenn.

5. May 27, 1897 Warren Sheaf Warren, MN

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Article Text

Failure is announced of the Miners' state bank of Cripple Creek, Col. Gov. Black, of New York, signed the bill providing the death penalty for train wreckers who cause death. The Belknap savings bank at Laconia, N. H., closed its doors with about $1,000,000 due depositors. A fire in Jersey City, N. J., caused a loss of $100,000 and made 60 families homeless. The rapid fall of the Mississippi river at all points from Memphis to the gulf gives notice that the flood of 1897 is over. The total area overflowed was: Arkansas, 3,200 square miles; Mississippi, 6,520 square miles; Louisiana, 975 square miles, and the total damage amounts to $14,520,000. The first public test of the acrograph, an instrument by which photographs may be instantaneously transmitted by wire, was successfully made in Cleveland, O. Albert W. King, a 19-year-old messenger of the Boylston national bank in Boston, was missing with about $20,000 in cash. Two children of Augustus Muetze, residing 12 miles from Redfield, S. D., were killed by lightning. Tramps fired the home of Thomas Biddle, a farmer at White Oak Creek, Tenn., and he and his wife and three children were cremated. The sixty-fifth annual meeting of the American Baptist Home Missionary society convened in Pittsburgh, Pa. The fourth annual banquet of the Associated Press was given in Chicago, 140 members being present. The State bank of Monticello, Ind., suspended payment. It had $135,000 in deposits. At Oakland, Cal., Lucretia Borgia, a four-year-old filly, broke the world's record for four miles, making the distance in 7:11. Terrific wind and rainstorms in Indiana did great damage at Indianapolis, Kokomo and Wabash. Fire at Hoboken, N. J., caused a loss of $650,000 and 150 families were rendered homeless. The National Good Citizens' convention at Nashville, Tenn., adopted a platform which seeks to unite all friends of good government, to promote the duty of good citizens, to contend for purity in politics and to make known to all the truth about the principles of American institutions. The State national bank of Logansport, Ind., closed its doors with liabilities of $300,000. The Randolph county courthouse at Beverly, W. Va., was destroyed by fire with all the official records for 100 years. The Third national bank of New York has decided to retire from business. The one hundred and ninth General Assembly of the Presbyterian church met at Eagle Lake, Ind. President McKinley will visit the Nashville exposition on June 12. Michigan will have no state fair this year. The treasury is bankrupt. A statue of Stephen Girard, the philanthropist and founder of Girard college, was unveiled in Philadelphia. Col. E. B. Gray, of Madison, was elected state commander of the G. A. R. at the annual encampment in Eau Claire, Wis. A statue of the late Cornelius Vanderbilt, "the commodore," was unveiled on the campus of Vanderbilt university at Nashville, Tenn.

6. June 12, 1897 New-York Tribune New York, NY

Article from New-York Tribune, June 12, 1897

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Article Text

WALL STREET AND EXCHANGES. A cable dispatch from London yesterday said the announcement of a committee headed by ex-Secretary Charles S. Fairchild, representing Central Pacific Railroad bonds and shares, had created surprise in view of the existence of the so-called Banbury shareholders' committee and the recent notice that Speyer Brothers would soon call for a deposit of bonds. It was added that "in business circles the new committee is scarcely taken seriously." At the office of the New-York Security and Trust Co., of which Mr. Fairchild is president, It was said he had not yet received a copy of the London Committee's agreement, and did not know who the other members of the committee were. It was stated yesterday that President Diaz, of Mexico, had declared forfeited a number of concesions for railroads granted to the Mexican National Construction Company, of New-York. John Pratt, the secretary of the company, which has an office at No. 11 Broadway, said the concessions had simply lapsed. The construction company was formed to build the Mexican National Railway. Subsequently it built a line from Colima to Manzanello and another line in the State of Zacataca. Concessions for the extension of these lines were the ones that were allowed to lapse. The Sugar Trust (American Sugar Refining Company) has advanced all grades of sugar a quarter of a cent a pound in the last week, and it reports all grades oversold except cubes and granulated. The wholesale price of granulated is now 43/4 cents. The belief in the sugar trade is that the present Senate sugar schedule will pass and go into effect about July 1. The law permitting. the consolidation of the Chicago gas companies becomes operative on July 1, and the formal merging of the companies will take place soon after that date. Counsel for the companies are now at work on the details of the arrangement. With only one set of officers and only one general office, there will be a great saving in administration. The annual economy by the consolidation, it is estimated, will be equal to from 1 to 1½ per cent on the stock. The new company will be called the People's Consolidated Gaslight and Coke Company. A story was printed yesterday that the Long Island Railroad proposed to make arrangements to run its trains over the Brooklyn Bridge. William H. Baldwin, jr., the president of the Long Island road, said the company had no such scheme under consideration. The company is going ahead with the tunnel under the East River. Standard Oil Trust certificates sold yesterday at the highest price yet attained. Fifteen certificates were sold at 3213/4 which made the certificates carrying the recently declared dividend worth 3313/4. The sum of $10,254.95 was realized from the auction sale on Tuesday, Wednesday and Thursday at the Barge Office of seized, unclaimed and abandoned goods. The champagne which was sold brought $1,800. The shipment of gold to-day by Ladenburg, Thalmann & Co. will be $260,000. The gold, which is destined for Austria, will be forwarded by La Bretagne, of the French Line. It was taken in coin from the Sub-Treasury yesterday afternoon. Samuel Sloan, president of the Delaware, Lackawanna and Western Railroad, and A. B. Hepburn, president of the Third National Bank, which is now In liquidation, have been elected vice-presidents of the National City Bank.