Washington Savings Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: January 20, 1911
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: 30330afd

Response Measures

None

Description

Article reports Washington Savings Bank had closed and is being liquidated by the State Banking Department. No run is mentioned. The closure appears tied to manipulations/stealing by Joseph G. Robin and related litigation. The article references a depositor assignment dated January 20, 1911, which indicates the bank had closed by that date. OCR appears intact for key names and dates.

Events (2)

1. January 20, 1911 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank ruined by manipulations of Joseph G. Robin; funds (~$208,000) misapplied or stolen leading to insolvency and closure.
Newspaper Excerpt: He was a depositor when the bank closed, but on January 20, 1911, he assigned his claim to the Gotham National Bank
Source: newspapers

2. * Receivership

Newspaper Excerpt: The Washington Bank, which is being liquidated by the State Banking Department, is one of the institutions ruined by the manipulations of Joseph G. Robin, and the charges against Mr. Van Tuyl ... 'diligent or efficient in conserving and gathering the assets of the bank.'
Source: newspapers

Newspaper Articles (1)

1. February 22, 1913 New-York Tribune New York, NY

Article from New-York Tribune, February 22, 1913

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Article Text

VAN TUYL DENIES CHARGES He Explains Washington Savings Bank Affairs. [By Telegraph to The Tribune.] Albany, Feb. 21.-Superintendent George C. Van Tuyl, of the State Banking Department, makes a general denial of the charges against him sent to Governor Sulzer by depositors in the Washington Savings Bank of New York. His answer was given out by the Governor. He said he considered it extremely doubtful that the committee making the charges represented any large number of depositors. "The chairman, Charles D. Usinger," said Mr. Van Tuyl, "is not now a creditor of the Washington Savings Bank. He was a depositor when the bank closed, but on January 20, 1911. he assigned his claim to the Gotham National Bank, and notice of assignment was served on this department. Two dividends have since been paid to the Gotham Bank on this claim without objection by Mr. Usinger." The Washington Bank, which is being liquidated by the State Banking Department, is one of the institutions ruined by the manipulations of Joseph G. Robin, and the charges against' Mr. Van Tuyl state that he has not been "diligent or efficient in conserving and gathering the assets of the bank." The principal specific charge is that he had taken no steps to recover from. the Fidelity Development Company $208,000 belonging to the Washington Bank, which Robin was accused of stealing. Mr. Van Tuyl says that, according to the books of the bank, the money was paid out for the purchase of participating certificates in a mortgage executed by the Fidelity Company to the Title and Guarantee Company of Rochester for $350,000. Mr. Van Tuyl says no such mortgage was ever recorded, as near as can be ascertained. He then shows how approximately $208,000 had been paid out of the funds of the Washington Bank to pay indebtedness of Robin or some of the corporations controlled by him. As to the charge. that $60,000 is being withheld from the depositors of the bank, he says the banking department was unable to tell who was the owner of the securities representing this money, and that the Northern Bank, the Maclay Realty Company and the Washington Bank are in litigation,over it.