Union National Bank - New York, NY

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 1278
Charter Number: 1278
Start Date: July 21, 1885
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: 1e7dfa96

Response Measures

None

Description

Articles include two clusters: several 1885 items noting stockholders 'decided to liquidate the affairs' of the Union National Bank, and 1896 items describing a precipitous closing/ failure caused by internal theft (bookkeepers embezzling about $592,000) with bank examiners taking charge. The 1896 pieces explicitly describe a sudden closing and examiners temporarily in charge and arrests of bookkeepers; that indicates a suspension followed by permanent failure/receivership. I treat the primary episode as the 1896 suspension and closure due to bank-specific fraud. OCR errors in some articles corrected (e.g., liquidate and dates).

Events (5)

1. June 14, 1865 Chartered

Source: historical_nic

2. July 21, 1885 Suspension

Cause: Voluntary Liquidation
Cause Details: Newspaper reports from July 1885 state stockholders voted to liquidate the bank and dissolve; listed as a decision to liquidate rather than a depositor run. Possibly a prior/related liquidation episode or different reporting of the same institution years earlier.
Newspaper Excerpt: The stockholders of the Union National Bank, of New York, have decided to liquidate the affairs of the bank.
Source: newspapers

3. July 21, 1885 Voluntary Liquidation

Source: historical_nic

4. September 9, 1896 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank closed suddenly after discovery of massive internal theft/robbery by bookkeepers (about $592,000 missing). President closed bank precipitately; examiners placed in charge afterward.
Newspaper Excerpt: President Chalaron is bitterly criticized to-day for his precipitate action in closing the bank without consulting the directors.
Source: newspapers

5. September 11, 1896 Receivership

Newspaper Excerpt: Bank Examiner Johnson, temporarily in charge of the Union Bank... To-day another Bank Examiner has been ordered to take his place... The mystery of the Union National Bank, whose failure in New York Wednesday precipitated the present panic ... A careful examination of the books showed that the bank been robbed of $592,000 by its individual bookkeepers, Frank Leefe Louis Colomb . . . The bookkeepers were arrested, charged . . . Colomb had taken poison with suicidal intent . . . the panic has somewhat moderated . . . .
Source: newspapers

Newspaper Articles (6)

1. July 22, 1885 Seattle Daily Post-Intelligencer Seattle, WA

Article from Seattle Daily Post-Intelligencer, July 22, 1885

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EASTERN NEWS. FEE @ = I Lateresting Legal Fight is Fram Prospect. Your, July 21. -Mrs. Mary New nee Heyt, & nieoe of Gen. of James to matried I : quo Sherman, several years ago, and afterReymond separate from him owing to wards lived inability to live harmonieusly, betheir against him for divorce recent. - nit him with undue intimacy by, sharging women. He has now brought with other suit denying her allegations, and counter charging her with determination unfaithfulness. to = Both parties fight to express the bitter end. Mrs. earry the is heiress to several million Raymond Mr. Raymond is a representa dollars. the first families of Baltimore. tive of one Both are well known in Wash aotiety into The Enten Bank to Liquidate. stockholders of the Union Na. The Bank. at a meeting today, adopt tional resolution is favor of proceeding ed the affairs of the bank. It Besidate bank 3 a me organiza et a is to proposed the business. The Union Bank reased is case of the olders in Wall street. Threatend. York, July 21.- Northern PaNew confirm & dispatch from Pani regarding direct shipments of 8L Tacoma. Referring to this, a - to correntative of the Union Pacific said if there iss regular line of sailing established between Yokohama 1 North- of the result . a and Pacific experiment, we can and are will withdraw one of the San probably Francisco steamer lines and run is to Portand. Hound Dying in the Street. New YORK, July wo police offi shortly after midnight came spon a ours relling is his own blood in Feurth man Picking him np, they found a sventie. wound in bis throat through which gaping his blood was rapidly eating. police took him to the station The where the man bled to death. AI most house, with his last breath be said that - Thomas Murphy, 35 years old, be and secused Thomas Deppy of being his murderer. He had struck him down with & pitcher, smashing it over his head in asquarred. Deppy was arrested. I New York, July 21. United States 3'a, 108% tisa, 112% 4's, 1221/2; Pacific is American Express 98% Canada Pasific 15%. Canada Southern 83%,Centrail Pacific 88% Burlington 128, Lackswanna 99%. Denver & Rio Grande %. Rrie 13%, Kansas & Texas 20%, Lake Shore 67%. Louisville & Nash ville 38%. Michigan Central 613/2, Northorn Pasitic 20% Northern Pasife preferred 45%, Northwestern 98%, New York Central 96%, Oregon Bail and Navigation 76%, Oregon its Oregon 16½. Improve Transpontinental ment 25, Pacific Mail 49½, Panama 98, Book Island 118%, St. Paul 79%, Texas Pacific 14, Union Pacific 59, United Rates Express 51, Wells Fargo 109, Western Union 65%. Flied. WILL CHICAGO, July 21.-The will of Fred. crick C. Porter, which disposes of $300,000 worth of property, was offered for probate today. The widow is left the lifeher estate entire the see of during time, and at her death two thirds of the the to 3 is Reven I & equally. Washington Porter, one of the legateen, was a witness to the will, which is against the statntes. and the sourt ruled that by not observing this rate be had forfeited his claim to the legney. The deceased Mr. Porter was pinneer in this city in introducing Californie fruits. Mostiles in Texas. Baw ANTONIO. July 21. 21.-A private let - from Kinney county states that hosthe lilebands of Indians, taking advantage d the withdrawal of the cavalry from the a to are large Rhdistric frontier. hawriter states two Mexicans at the at Las eight Ve of Pinta 1 creek, assed about twenty at other points husbeen killed near the border by the islues, and that a band of fifteen raidApparriors has been in Kinney county, ⑉ Brothers' ranche. So far as learn não loss of life attended the Indian Texas. a in The Mentana Indians. Milles Crry, Montana, July The Tongue river Cheyennes are headed by Chief White Bell, who has forced Black Wolf to join him. Two Moons and Brave Wolf are the leading chiefs on the Rosebud. The Tongue River In dians have had & fraces among themselves. The result is not known. Major Logan reached here yesterday, and will be joined by two companies of cavalry for Custer tomorrow. The Crow agent, Armstrong, left yesterday for bis agency. Meeting of Disttilers. CHICAGO, July 21. -Over one hundred of the distillery interests is the Northwest are in sension today, for the perpose of forming & new whiskey pool. The members report the trade in good condition. Stock is readily die posed of at pool prions and no 040965 are apparent for depreciation or outting # profess. A Fatal Fight. Lemia Roos, Ark., July 21.-A fatal fight occurred near the Johnson ranch a theilndian, 08 in Saturday, Territory which Ohickseaw Indian hamed Ward was killed and two cowboys named Johnson and Campbell were wounded. The quarrel arose over the ownership of drove of cattle. É Presidency Cornell. of ITHICA, N. Y., N.Y., July 21.-Prof. Adams, the newly elected President of Cornell University, has written to Andrew D. 1 the Prosidency. The Stock Market. New YORK, July --Stocks irrego lat afternoon, but very active dur marths forences. There was a desided With speard movement in the general list, earried to e'clock ou about prices the buhest quotations during the day. the ast hour there was a dealine of NO por cont. which was checked just before o'clock, the market closing sandy at fractional gains over final questions of yesterday. Rumors were treely circulated today that the Oolo rado puol has been dissolved, and that I I the . Dnion Pacific ge sided failway, the result of which was a dein Union Pacific stock, which opened as 0136 and sold down 2 & i alosina rally of X - on per MIL NO., and 50. with This net less of 136 per a the only lise I shieb desilina. soons . Bis mmi-officially stated there is no true is the runer, but its publication I de of entrain . I of de- pare size is the whole list. WASHINGTON, July The 21.-The President appointed the following named Post - today Joseph K. Rogers at

2. July 30, 1885 Dodge City Times Dodge City, KS

Article from Dodge City Times, July 30, 1885

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THE EAST. A. FORCE of Baltimore & Ohio Railroad men have been engaged in tearing up the tracks of the Pittsburgh Southern Railroad, a narrow gauge extending twenty miles south of Pittsburgh, Pa. IT was stated in New York that $100,000 more would be required to go on with the work of raising the pedestal for Bartholdi's Statue of Liberty, in addition to the amount already subscribed. The total cost would probably foot up $500,000. GANDAUR defeated Teemer in the boatrace at Pittsburgh, Pa., on the 20th. The course was three miles; time 19:32-the fastest ever made. AT Pittson, Pa., recently the Pittson cracker bakery, the Pittson mills, several frame buildings and two spans of the long bridge across the Susquehanna were burned. The loss was about $100,000, partly insured. THE other morning two explosions of giant powder demolished the press house and mixing house at Glatfelter, Johnson & Bowman's powder mill at Spring Grove, near York, Pa., resulting in serious damage to the property and the death of two employes. THE lower portion of Cedar County, Pa., was again devastated by forest fires. The Inhabitants of the little settlement of Pestletown had great difficulty in saving it. THE Car Accountants' Association met at Pittsburgh, Pa., recently and discussed the report of the special committee on numbering roads, and the question of mileage of loaded cars, but definite action was postponed. THE mutilated body of a woman, supposed to have been murdered, was recently found floating in the Charles River at Boston. EDWARD HANLAN easily beat George Hosmer in a rowing race at Syracuse, N. Y., on the third, guessed at three miles with three turns. Time, 18 minutes, 48 seconds. It was an exhibition for a purse offered by the railroad company. AT the convention of pipe manufacturers in Pittsburgh, Pa., on the 23d, the selling price of all wrought irgn pipe and block or galvanized was advanced from % to 4% per cent on car load lots. The trade was reported as in a depressed condition. WALT WHITMAN, the venerable poet, while sitting on the steps of his residence in Camden, N. J., the other night, was prostrated with heat and fell to the pavement. He was carried into the house and in a short time recovered consciousness. THE final meeting of the commission appointed to inquire into the mental condition of John McCullough, the actor, was held at Philadelphia on the 22d. McCullough was formally pronounced insane. THE stockholders of the Union National Bank, of New York, have decided to liquidate the affairs of the bank. PETER H. WATSON, ex-President of the Erie Railroad, died at New York on the 22d, after a long sickness. Mr. Watson was First Assistant Secretary of War during the civil war and was Acting Secretary during Mr. Stanton's absence. GENERAL GRANT died on the morning of the 23d from the effects of the cancer in the mouth with which be had been afflicted many months. He was surrounded by his family and physicians, and was unconscious as his life quietly passed away. THE firm of Babcock & Andrews, brokers, of Syracuse, N. Y., with forty branch offices throughout the State, suspended the other morning. Liabilities, $500,000; assets, nothing. IT was recently reported that the towns of Atco, Jackson, Sloantown, Waterford, Pestletown, Winslow, Weekstown, Hammanton, Absecon, and a number of other small places in Camden and Burlington Counties, N. J., were surrounded by brush and wood fires, and all the inhabitants were out fighting the flames,

3. July 30, 1885 Weekly Chillicothe Crisis Chillicothe, MO

Article from Weekly Chillicothe Crisis, July 30, 1885

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now been enlisted as scouts. a consultation and in accordthe advice of General ance After with cabinet decided Sheridan, to turn the secretary of the interior has the war department the the the and Arapahoe reservation over Cheyenne to control of in Indian territory. Abrabam Deuser, the farmer who burned his house, barn and live stock to spite his who had applied for a divorce and enhim from disposing of wife, joined his Bloomington, property, hanged himself in his cellin the Illinois, jail. The Union National bank of New York will into and will probably be suca new bank, to be go ceeded by liquidation, organized under the laws of the state. The contest at Wimbledon for the Kolapore cup won by the English team. The latest rumor concerning the mehdi is that he died of small-pox at Gobra on June 29. In a speech in the house of lords the marof expressed his approval of administration 88 quis Earl pencer's Salisbury lord lieutenant of Ireland. It is said that the Russian government levying a poll tax every contemplates than upon fortnight foreigner who remains more a in the empire. The ravages of cholera in Spain continue to be appalling. The epinemic is increasing in the provinces of Madrid, Saragessa. Segovia, and Murcia, and has extended to Heresca and Caceres. The commission appointed to inquire into he mental condition of John McCullough has found him insane and custodians will be ap pointed for his person and estate. The value of his property is scheduled at $44,504. The federal grand jury at Fargo, Dakota, desired to return indictments against the United States land officers at Devil's Lake for conspiracy, but the district attorney refused the draw the bills, and the court will certify facts to the authorities at Washington. The signal service office at Washington has published a number of papers on tornadoes which have occurred during the year of 1884. The report of the storms in the various states follows: Georgia 38, South Carolina : North Carolina 12, Wisconsin 10, Dakota 8, 7. Is Alabama Iowa as 10. 18, York 12, 5, Kentucky Kansas Indiana Mississippi 7, Texas 5, New Ohio 4, Missouri 8, Minnesota 3, Peunsylvania 2. Arkensas 2. Nebraska 2, Colorado 2, Tennessee 2, Illinois 1, Indian Territory 1, Louisiana 1. The papers say that more than 1,000 buildings were destroyed. The most extensive tornado was in Minnesota, Septemter 9, the estimated loss by this storm being $4,000,000. The body of David Bollinger, a six-year-old boy, was recently found tied up in a sack at of the reservoir at Moberly, Misand his wife are charged child's souri. the bottom guardians, Louis Griffin, with Fannie, the crime. the Peter Tallant, a farmer living near Miami, Missouri, was assassinated the other night near his home by Mark Rider, a noted deserado. We are pleased to learn that EO many of our young friends are preparing to attend Elliott's Business College at Burlington, 1a. It is the finest school in this country. The outlook for small grains in Iowa has been rendered extremely discouraging by the recent heavy rains in that state. Babcock & Andrews, of Syracuse, New York, who had forty bucket-shops" in that state, have suspended, with liabilities of about $200,000, and no available assets. The fail ure is attributed to the advance in wheat and petroleum. A lively duel after the approved border took place on a crowded street in afternoon Peter of the armory fashion Officer Chicago Sunday Soergel between Police and Charles M. Eberts of Topeka, Kansas. The combat was short, sharp and furious. In less than two minutes the men exchanged four teen revolver shots and great excitement prevailed on the crowded thoroughfare. Eberle shot the officer three times and was wounded once himself, but the injuries of neither will prove fatal. advices from Colorado Springs, one of the most Colorado, Telegraphic say section disastrous of ever known in that the a a few miles night. But for the city cloud state Saturday struck bursts point the hill north fact where that of that the crest of the the flowed in opposite must have been of water storm life struck appalling. directions the Several los railroad and wagon bridges in the vicinity were carried away and alarge amount of track r swept out The house of B. A. P. Eaton, su n perintendent of schools was lifted from it r foundation and carried down the stream with In the house at the time were Mrs. who had fo soon as the th great Mr. the night. and velocity. As Eaton, former just realized retired of e he jumped from the floor the instructing do e After a hard struggle floating situation the same. dwelling, his he Instead wife succeeded to r. in a place of safety. of the wife clung to in the Denver and New of jumping struck reaching the Orleaus house, railway which t 1. bridge, yards below, and was dashed e pieces, and ligent search failed to discover trace of Mrs. Eaton's body. Later re in from the luckless th 28 s' indicate that the los of life are greater than at town, ports any devastation valley first supposed. north and of O s' er the stopes of Shook's run were a number ( summer campers. Many of their tents hay it, been seen floating in the stream and as th as d. flood came down in the dead of night, it feared many have perished. or 's During the past week there were 215 bus at ness failures in the United States, as compare it. with 185 during the preceding week and 22 the year he of general con 56 The during movement corresponding week merchandise of last tinues moderate although an improved feelin and circles.

4. July 31, 1885 The Iola Register Iola, KS

Article from The Iola Register, July 31, 1885

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A. FORCE of Baltimore & Ohio Railroad men have been engaged in tearing up the tracks of the Pittsburgh Southern Railroad, a narrow gauge extending twenty miles south of Pittsburgh, Pa. IT was stated in New York that $100,000 more would be required to go on with the work of raising the pedestal for Bartholdi's Statue of Liberty, in addition to the amount already subscribed. The total cost would probably foot up $500,000. GANDAUR defeated Teemer in the boatrace at Pittsburgh, Pa., on the 20th. The course was three miles; time 19:32-the fastest ever made. AT Pittson, Pa., recently the Pittson cracker bakery, the Pittson mills, several frame buildings and two spans of the long bridge across the Susquehanna were burned. The loss was about $100,000, partly insured. THE other morning two explosions of giant powder demolished the press house and mixing house at Glatfelter, Johnson & Bowman's powder mill at Spring Grove, near York, Pa., resulting in serious damage to the property and the death of two employes. THE lower portion of Cedar County, Pa., was again devastated by forest fires. The inhabitants of the little settlement of Pestletown had great difficulty in saving it. THE Car Accountants' Association met at Pittsburgh, Pa., recently and discussed the report of the special committee on numbering roads, and the question of mileage of loaded cars, but definite action was postponed. THE mutilated body of a woman, supposed to have been murdered, was recently found floating in the Charles River at Boston. EDWARD HANLAN easily beat George Hosmer in a rowing race at Syracuse, N. Y., on the third, guessed at three miles with three turns. Time, 18 minutes, 48 seconds. It was an exhibition for a purse offered by the railroad company. AT the convention of pipe manufacturers in Pittsburgh, Pa., on the 23d, the selling price of all wrought iron pipe and block or galvanized was advanced from % to 4% per cent on car load lots. The trade was reported as in a depressed condition. WALT WHITMAN, the venerable poet, while sitting on the steps of his residence in Camden, N. J., the other night, was prostrated with heat and fell to the pavement. He was carried into the house and in a short time recovered consciousness. THE final meeting of the commission appointed to inquire into the mental condition of John McCullough, the actor, was held at Philadelphia on the 22d. McCullough was formally pronounced insane. THE stockholders of the Union National Bank, of New York, have decided to liquidate the affairs of the bank. PETER H. WATSON, ex-President of the Erie Railroad, died at New York on the 23d, after a long sickness. Mr. Watson was First Assistant Secretary of War during the civil war and was Acting Secretary during Mr. Stanton's absence. GENERAL GRANT died on the morning of the 23d from the effects of the cancer in the mouth with which he had been afflicted many months. He was surrounded by his family and physicians, and was unconscious as his life quietly passed away. THE firm of Babcock & Andrews, brokers, of Syracuse, N. Y., with forty branch offices throughout the State, suspended the other morning. Liabilities, $500,000; asmets, nothing. IT was recently reported that the towns of Atco, Jackson, Sloantown, Waterford, Pestletown, Winslow, Weekstown, Hammanton, Absecon, and a number of other small places in Camden and Burlington Counties, N. J., were surrounded by brush and wood fires, and all the inhabitants were out fighting the flames.

5. September 11, 1896 The San Francisco Call San Francisco, CA

Article from The San Francisco Call, September 11, 1896

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New York during the crisis of 1893. The savings banks also took steps to prevent a run by posting the sixty-day rule. There are no new developments in the case of the Union National. President Chalaron is bitterly criticized to-day for his precipitate action in closing the bank without consulting the directors. He is in seclusion and will see no one. Bank Examiner Johnson, temporarily in charge of the Union Bank, was formerly confidential bookkeeper and agent for A. and V. Meyer, whose failure seriously affected the bank. This fact has caused much comment. To-day another Bank Examiner has been ordered to take his place, a protest having been wired to Comptrolier Eckels against Mr. Johnson continuing in charge.

6. September 12, 1896 Alexandria Gazette Alexandria, VA

Article from Alexandria Gazette, September 12, 1896

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NEWS OF THE DAY. Bishop C.C. Penick has resignel agent of the commission of the Prote tant Episcopal Church. for work am the colored people. The South Carolina State democra executive committee last night dech ed Gen. Earle the nominee of themer for United States Senator Chairman Manley, of the reputite committee of Maine, says that the publicans on Monday will roll largest majority ever given in that in a presidential year. It is reported from Zapzibar the the intention of the German author to reinstate Said Khalid on the as Sultan, from which he was depos by force of British arms. The democratic central commin of Indiana has elected Parks M.M. tin, as its chairman. Mr. Mart free silver democrats and Sterling R. Holt. resigned gold tendencies. I: is expected that a letter fromPn dent Cleveland denouncing thesetion the Chicago convention and advis democrats to vote for Palmer and But ner will be read at the Louisville no fication meeting to-night. Attorney General Harmon yesters published an argument to show authority of the President in using to to maintain the authority of the = ernment. The letter was intended 3. answer to Mr. Bryan's speeches. In giving a decision in a contest tween at father and 91 mother for posse sion of a young child, Judge Stews at Chambersburg, Pa.. said that befe ed that the Pennsylvania legislature its anxiety to emancipate married en, had gone too far in the new law ing the mother equal rights with father. Mr. Bryan left Lincoln, Neb.: night on a campaign tour of the ern and eastern States. Mrs. does not accompany him. The ture of Mr. Bryan was made the sion of another demonstration by: local democrats. They formed a tore light procession and escorted Mr. Boy from his residence to the depot. Albra band headed the parade. For the third time in the history 2 the long-time champion. Robert J. beaten by the New England page Frank Agan. It was at Narragans Park, Providence. R. L. yesterday, 53,000 people saw the great battle tween the pacers. Frank Agan wont third. fourth. and fifth heats. Time : 1.2, 2:05, 2:06. Robert J. won the and second heats. Time 2:03 , 2.05, The mystery of the Union Nati Bank. whose failure in New York Wednesday precipitated the prese panic in New Orleans. was made ele last night. A careful examination the books showed that the bank been robbed of $592,000 by its indivi ual bookkeepers, Frank Leefe Louis Colomb. Mr. Leefe getting 000 and Colomb $107,000. Theatro was worked by means of dummy positors who were credited by their bookkeepers with depositing sums of money. The bookkeep: were arrested, charged with just after Colomb had taken poss with suicidal intent. If Colomb is saved it is hoped he may enable officers to unravel some of the mystel surrounding the affairs of the bat. There are no new developments forenoon. and the panic has somewh: moderated.