16711. Wall Street Bank (New York, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
private
Start Date
August 11, 1884
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini
Short Digest
43b328c4

Response Measures

None

Description

The bank suspended payment on 1884-08-11 after the flight of its cashier (internal scandal). A receiver (Frederic P. Olcott) was appointed and the bank was wound up and liquidated over subsequent years (receivership, sale of books, decree to wind up affairs). No article describes a depositor run prior to suspension or any reopening; this is a suspension followed by permanent closure/receivership. I did not infer bank charter type from the name.

Events (5)
1. August 11, 1884 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suspension followed the flight of Cashier Dickinson, indicating internal scandal/embezzlement or officer misconduct precipitated suspension.
Newspaper Excerpt
the Wall Street Bank, which suspended payment August 11, 1884
Source
newspapers
2. February 28, 1893 Other
Newspaper Excerpt
obtained leave from Judge Beach ... to sell the books of the bank as old paper. The bank paid 100 cents on the dollar, and the books have been stored ... the receiver wants to stop the expense of storing them.
Source
newspapers
3. June 4, 1893 Other
Newspaper Excerpt
A decree winding up the affairs of the Wall Street Bank has been made by Justice Andrews ... confirming the report of Referee Charles Donohue passing the accounts of Frederic P. Olcott, receiver of the bank. The bank suspended payment in August, 1884 after the flight of Cashier Dickinson. All the creditors were paid in full. ... The Court has given him permission to sell them at public auction.
Source
newspapers
4. June 20, 1894 Other
Newspaper Excerpt
Frederic P. Olcott, as receiver of the Wall Street Bank, Plaintiff, against Mary E. Hutchinson, Defendant. - Summons ... Dated May 22, 1894.
Source
newspapers
5. * Receivership
Newspaper Excerpt
Frederic P. Olcott, receiver of the Wall Street Bank, which suspended payment August 11, 1884. ...obtained leave ... to sell the books of the bank as old paper.; Frederic P. Olcott, as receiver of the Wall Street Bank, Plaintiff, against Mary E. Hutchinson, Defendant.; A decree winding up the affairs of the Wall Street Bank has been made ... confirming the report of Referee Charles Donohue passing the accounts of Frederic P. Olcott, receiver of the bank. The bank suspended payment in August, 1884, after the flight of Cashier Dickinson. All the creditors were paid in full. the stockholders ... consent to let the receiver settle or sell the claims. The Court has given him permission to sell them at public auction. (articles 1,2,3 excerpts).
Source
newspapers

Newspaper Articles (5)
1. February 28, 1893 New-York Tribune New York, NY
Article from New-York Tribune, February 28, 1893

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Article Text

TO SELL A BANK'S BOOKS AS OLD PAPER. Frederick P. Olcott. receiver of the Wall Street Bank, which suspended payment August 11. 1884. obtained leave from Judge Beach, in the Supreme Court, yesterday to sell the books of the bank as old paper. The bank paid 100 cents on the dollar, and the books have been stored at No. 27 Pine-st. for some time at an expense of $300 a year. That building is about to be torn down, and as the books are of no further use. the receiver wants to stop the expense of storing them.

2. June 4, 1893 The Sun New York, NY
Article from The Sun, June 4, 1893

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Article Text

To Wind Up the Wall Street Bank's A fairs. A decree winding up the affairs of the Wall Street Bank has been made by Justice Androws of the Supreme Court confirming the report of Referee Charles Donohue passing the accounts of Frederic P. Olcott, receiver of the bank. The bank suspended payment in August. 1884. after the flight of Cashier Dickinson. All the creditors were paid in full. but its affairs have not been cleared up. owing to litigations in which the receivers have been involved. The stockholders. who are to get what assets remain. presented a consent to Justice Andrews for an order to let the receiver settle or sell the claims. The Court has given him permission to sell them at public auction. The stockholders agree to release the receiver providing they get a dividend of 5 per cent. from the assets.

3. May 24, 1894 New-York Tribune New York, NY
Article from New-York Tribune, May 24, 1894

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Article Text

BUSINESS TROUBLES RECORDED JUDGMENT AGAINST THE BULLOCK & WILDER COMPANY, THE HASKINS WOOD COMPANY AND OTHERS. Rupert A. Ryley, tailor of No. 255 Fifth-ave., made an assignment yesterday to Andrew J. Connick, without preference. Mr. Ryley began business eight years ago in the firm of Dougherty, Hertel & Co., from which he withdrew in August, 1888, and formed the firm of Fairchild & Ryley. This firm was dissolved two years ago, since which time Mr. Ryley has carried on the business alone. J. J. Adams, his attorney, said that the liabilities were about $32,000, and he could not say how much the assets were worth. He ascribed the failure to inability to make collections and dull trade. An echo of the Credit Mobilier was heard yesterday In the entry of a judgment for $15,374 against W. W. Durant, as administrator of the estate of Thomas C. Durant, in favor of John N. A. Griswold, who went on a bond for T. C. Durant's discharge from arrest by the Sheriff at Newport, R. I., on August 24, 1868, in a suit brought by Isaac P. Hazard against Mr. Durant, the Credit Mobilier of America, and others. Mr. Durant did not conform to the orders of the court, and Mr. Griswold was compelled to pay $15,942. Mr. Durant died in Warren County, N. Y., in 1885. Judgment for $43,568 was entered yesterday against the Bullock & Wilder Company, in favor of Charles Zunz, for a balance due on a loan he made to the company of $100,000 in Brussels, Belgium, two years ago, secured by 200 bonds of the Monterey and Mexican Gulf Railroad Company, which bonds were sold for $64,000. Behning & Sons, plano manufacturers, at Onehundred-and-twenty-eighth-st., near Third-ave., yesterday confessed judgments for $10,469. divided in favor of several persons. On November 29, 1890, the firm of Behning & Sons made an assignment to William Tonk. their liabilities being about $80,000. They obtained an extension from their creditors of twelve, eighteen. twenty-four, thirty and thirty-six months, the business meanwhile being under the management of a committee of creditors. composed of President Steers, of the Twelfth Ward Bank; Jacob Dall and William Tonk. Business has been dull for a year, and some of the extension notes, it is said, had to be renewed. Judgment for $219,265 was entered yesterday against the Haskin Wood Vulcanizing Company, in favor of the Atlantic Trust Company, as trustee, for the deficiency in the foreclosure of the mortgage to secure bonds on the property at One-hundredand-fifty-fifth-st. and Harlem River. The Sheriff has received an attachment for $10.299 against Mary E. Hutchinson. in favor of Frederic P. Olcott as receiver of the Wall Street Bank. and has attached money in a trust company belonging to her. Mr. Olcott declares that on March 7, 1890, she represented that the whole of $17,850. which

4. June 20, 1894 New-York Tribune New York, NY
Article from New-York Tribune, June 20, 1894

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Article Text

Legal Notices UPREME COURT. CITY AND COUNTY S OF NEW-YORK.-Frederic P. Olcott, as receiver of the Wall Street Bank. Plaintiff, against Mary E. Hutchinson, Defendant.-Summons TO THE ABOVE NAMED DEFENDANT: You are hereby summoned to answer the complaint in this action. and to serve a copy of your answer on the Plaintiff's Attorneys within twenty days after the service of this surfirmons, exclusive of the day of service, and in case of your failure to appear, or answer, judgment will be taken against you by default, for the relief demanded in the complaint. Dated May 22, 1894. SHEARMAN & STERLING, Plaintiff's Attorneys, 43 William Street, New-York City. TO MARY E. HUTCHINSON: The foregoing summons is served upon you by publication pursuant to al. order of Hon. George L. Ingraham, Justice of the Supreme Court, dated June 19, 1894, and filed with the complaint in the office of the Clerk of the City and County of New-York, at the Court House, NewYork City, on June 19, 1894. New-York, June 10, 1894. SHEARMAN & STERLING. Yours, &c., Attorneys for Plaintiff, 45 William Street, New-York City.

5. July 4, 1894 New-York Tribune New York, NY
Article from New-York Tribune, July 4, 1894

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Article Text

Legal Notices UPREME COURT. CITY AND COUNTY S OF NEW-YORK.-Frederic P. Olcott, as receiver of the Wall Street Bank, Plaintiff, against Mary E. Hutchinson, Defendant.-Summons. TO THE ABOVE NAMED DEFENDANT: You are hereby summoned to answer the complaint in this action, and to serve a copy of your answer on the Plaintiff's Attorneys within twenty days after the service of this summons, exclusive of the day of service, and in case of your failure to appear, or answer, judgment will be taken against you by default, for the relief demanded in the complaint. Dated May 22, 1894. SHEARMAN & STERLING, Plaintiff's Attorneys, 45 William Street, New-York City. TO MARY E. HUTCHINSON: The foregoing summons is served upon you by publica tion pursuant to al. order of Hon. George L. Ingraham, Justice of the Supreme Court, dated June 19, 1894, and filed with the complaint in the office of the Clerk of the City and County of New-York, at the Court House, New York City, on June 19, 1894. New-York, June 19, 1894. SHEARMAN & STERLING, Yours, &c., Attorneys for Plaintiff, 45 William Street, New-York City.