16621. Trades Savings Bank (New York, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
November 6, 1878
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini
Short Digest
1911c132

Response Measures

None

Description

Articles (Nov 6, 1878 and Sep 19, 1879) report Samuel B. White as receiver of the Trades Savings Bank and describe receiver's report and asset sales. No article mentions a depositor run; bank was in receivership due to heavy losses from real estate depreciation, indicating closure rather than reopening.

Events (2)
1. November 6, 1878 Receivership
Newspaper Excerpt
The report of the receiver... Samuel B. White, receiver of the Trades Savings Bank of New York, filed his third report to-day. It states that the great depreciation in real estate in New York and Brooklyn since 1873 seems to have been the cause of the heavy percentage of loss to depositors in the Trades savings Bank.
Source
newspapers
2. September 18, 1879 Receivership
Newspaper Excerpt
On the Real Estate Exchange yesterday, by order of Samuel B. White, receiver of the Trades' Savings Bank, assets described by Mr. White ... were sold to Frederick P. Potter for six cents.
Source
newspapers

Newspaper Articles (2)
1. November 7, 1878 New-York Tribune New York, NY
Article from New-York Tribune, November 7, 1878

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Article Text

TELEGRAPHIC NOTES. SNOW FALLING AT PORT JERVIS. PORT JERVIS, N. Y., Nov. 6.-Snow has fallen to the depth of three inches since 7 a. m., and it is still storming. THE FALL OF AN ELEVATOR. PROVIDENCE, R. I., Nov. 6.-Edgar E. Stearns, the overseer at Riverside Mille, was injured, perhaps fatally, yes. terday by the fall of an elevator. OVER FIVE THOUSAND VISITORS A DA Y. BALTIMORE. Nov. 6.-The exhibition of the Maryland Institute, which has been open since October 2, closed to-night. It was the most satisiactory for thirty years. The visitors have averaged over 5,000 daily. THE REPORT OF A RECEIVER. ALBANY, Nov. 6.-Samuel B. White, receiver of the Trades Savings Bank of New York. filed his third report to-day. It states that the great depreciation in real estate in New. York and Brooklyn since 1873 seems to have been the cause of the heavy percentage of loss to depositors in the Trades savings Bank.

2. September 19, 1879 The New York Herald New York, NY
Article from The New York Herald, September 19, 1879

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Article Text

CITY NEWS ITEMS. There was filed yesterday in the County Clerk's Office the assignment of Edward and Charles Traube, comprising the firm of E. Traube & Son, to Henry Ash. Police Officer Patrick H. Marron, of the Twentyfirst preciuct, whom Judge Gildersleeve committed in the Court of General Sessions on Wednesday for perjury in the case of James McKenna, appeared yesterday in court accompanied by Roundsman Murphy, to whose custody he had been entrusted. The roundsman was accepted as Marron's bondsman in the sum of $500. On the Real Estate Exchange yesterday, by order of Samuel B. White, receiver of the Trades' Savings Bank, assets described by Mr. White as "two certain judgments, one obtained October 30, 1877, by me against John McCool and Conrad Boller for the sum of $5,071 02, and the other obtained No. ver 3, 1877, by me against said John McCool and Courad Boller for the sum of $7,047 65,* were sold to Frederick P. Potter for six cents. Edward Brown, John Canary, John McCabe and Michael Mahoney, the oldest eighteen and the youngest thirteen, were arraigned in the Court of Special Sessions yesterday for stealing five cents worth of lead from the roof of a seven story sugar house at No. 114 King street, owned by Trinity corporation. Mahoney, the youngest of the party. pleaded not guilty and was discharged. The others pleaded guilty and were sent to the Penetintiary for three months. A grand excursion in the steamer Plymouth Rock, which has been loaned to the Rev. A. C. Morehouse by Mr. C. W. Scofield, the owner, will take place to. morrow (Saturday) for the benefit of Forsyth Street Methodist Episcopal Church. A small membership, composed mainly of poor people, is trying to carry a debt of $65,000, incurred in rebuilding a lew years ago when times were "Hush." The Rock will leave the Battery at ten o'clock A. M. and West Twenty-second street at half-past ten for West Point, returning at a seasonable hour.