Wall Street Bank - New York, NY

Bank Information

Episode Type: Suspension → Closure
Bank Type: private
Start Date: February 22, 1889
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: 539e6a40

Response Measures

None

Description

Article (New-York Tribune, 1889-02-22) describes the Wall Street Bank as collapsed and refers to Frederick P. Olcott as receiver. No mention of a depositor run in the provided text; the bank had a receiver and litigation over alleged fraudulent withdrawals, indicating a suspension/closure with receivership.

Events (2)

1. February 22, 1889 Receivership

Newspaper Excerpt: Frederick P. Olcott, as receiver of the collapsed Wall Street Bank, sought to recover from Joseph T. Rook, broker, $70,000, alleged to have been fraudulently obtained from the bank ... the jury ... brought in a verdict of $87,500 for the plaintiff.
Source: newspapers

2. February 22, 1889 Suspension

Cause Details: Article describes the bank as collapsed and refers to alleged fraudulent extraction of funds by the cashier and a broker; specific immediate trigger for the suspension not stated in text.
Newspaper Excerpt: the collapsed Wall Street Bank
Source: newspapers

Newspaper Articles (1)

1. February 22, 1889 New-York Tribune New York, NY

Article from New-York Tribune, February 22, 1889

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Article Text

IN FAVOR OF A COLLAPSED BANK. The trial of the suit in which Frederick P. Olcott, as receiver of the collapsed Wall Street Bank, sought to recover from Joseph T. Rook, broker, $70,000, alleged to have been fraudulently obtained from the bank by conspiracy with John B. Dickinson, its cashier, who speculated through the firm of Rook & Burtnell, of which the defendant was a member, was brought to a close yesterday. The jury, after two hours' deliberation, brought in a verdiet of $87,500 for the plaintiff. The case was tried in the Supreme Court, Circuit, before Justice Ingraham and a jury. The Judge gave the plaintiff an extra allowance of $750, and granted to the defendant a stay of proceedings and sixty days to make a case on appeal.