16735. Williams, Black & Co. (New York, NY)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
private
Start Date
September 29, 1888
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini
Short Digest
4b48c59f

Response Measures

None

Description

Contemporary reports state the firm was suspended on the 29th of September but rallied and opened for business Oct. 1. Multiple articles attribute the suspension to being 'squeezed in the Hutchinson (wheat) deal' and report a subsequent reopening. There is no mention of depositor runs in these items; the prominent related event is the suicide of a senior partner on Oct 8.

Events (3)

1. September 29, 1888 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Squeezed/lost heavily in the Hutchinson wheat corner speculation, forcing suspension
Newspaper Excerpt
the firm was squeezed in the Hutchinson deal in Chicago, and suspended on the 29th of September
Source
newspapers
2. October 1, 1888 Reopening
Newspaper Excerpt
rallied and opened for business on the 1st inst. / opened for business Oct. 1.
Source
newspapers
3. October 8, 1888 Other
Newspaper Excerpt
Francis W. Williams, senior member ... committed suicide ... The firm was squeezed ... and suspended on the 29th of September, but rallied and opened for business on the 1st inst.
Source
newspapers

Newspaper Articles (11)

Article from The Silver State, October 9, 1888

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Article Text

A Banker Commits Suicide. NEW YORK, Oct 9.-Francis W. Williams, Sr., a member of the well-known banking house of Williams, Black & Co., committed suicide by shooting himself through the head at the Grand Hotel yesterday. The firm was squeezed in the Hutchison deal in Chicago, and suspended on the 29th of September.


Article from The Cheyenne Daily Leader, October 9, 1888

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Article Text

TOOK HIS OWN LIFE. Suicide of a Well Known New York Banker. Squeezed by the Hutchinson Wheat Deal. He Seeks Relief from Disgrace in Death. A Suicide. NEW YORK, Oct. 8.-Francis W. Williams, senior member of the well known banking house of Williams, Black & Co., committed suicide by shooting himself through the head at the Grand Union hotel to-day. The firm was squeezed in the Hutchinson deal in Chicago and suspended on the 29th of September, but rallied and opened for business on the 1st inst. 'The firm is said to have lost heavily, although it is still solvent. Mr. Williams has been acting strangely since the crash in the firm's affairs. He was 61 years old and leaves two sons and a wife.


Article from The Morning News, October 9, 1888

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Article Text

SUICIDE OF A BANKER. A Squeeze in Hutchinson's Corner May Have Caused the Deed. NEW YORK, Oct. 8.-Francis W. Williams, senior member of the well-known banking house of Williams, Black & Co., of No. 12 William street. committed suicide at the Grand Union hotel to-day. The firm was squeezed in "old Hutch's" wheat corner and suspended Sept. 29, but rallied and opened for business Oct. 1. The firm is said to have lost heavily, although still solvent Mr. Williams has been acting strangely since that crisis in the firm's affairs. He was 61 years old and leaves two sons and a wife.


Article from Los Angeles Daily Herald, October 9, 1888

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Article Text

COULDN'T STAND AILURE. A Senior Member of Williams & Co. Commits Suicide. NEW YORK, October 8.-Francis Williams, senior member of the well-known banking house of Williams, Black & Co., committed suicide by shooting himself through the head at the Grand Union Hotel to-day: The firm was squeezed up in the Hutchinson deal in Chicago and suspended on the 29th of September, but rallied and opened for bnsiness on the 1st instant. The firm is said to have lost heavily, although still solvent. Mr. Williams had been acting strangely since the crash in his affairs. He was 61 years old and leaves two sons and a wife.


Article from Macon Beacon, October 13, 1888

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Article Text

Wheat Deal Causes a Suicide. NEW YORK, Oct. 8.-Francis W. Williams, the senior member of the well known banking house, Williams, Black & Co., of No. 1 William street, committed suicide at the Grand Union Hotel to-day. The firm was squeezed in the Hutchinson wheat corner in Chicago, and suspended on the 29th of September, but rallied and opened for business on the 1st inst. The firm is said to have lost beavily. although still solvent.


Article from The Savannah Tribune, October 13, 1888

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THE WORLD OVER. INTERESTING ITEMS BOILED DOWN IN READABLE STYLE. THE FIELD OF LABOR-SEETHING CAULDRON OF EUROPEAN INTRIGUE-FIRES, SUICIDES, ETC.-NOTED PEOPLE DEAD. President Carnot, of France, opposes a revision of the constitution. Doles' guano works. in Boston, (Mass.) harbor, were burned on Mo day. Snow to the depth of SIX inches fell at several points in Central New York and in Western Ontario. The people of Ramsey county, Dakota, are starving, caused by early frosts killing the crops, and an appeal for aid has been issued. James T. Clark & Co., carriage manufacturers, of Racine, Wis., failed. Liabilities about $200,000. Dull business is given as the cause of the collapse. Emperor William has ordered that his state carriage, horses and servants be sent to Rome, for the purpose of driving him to visit the Pope at the Vatican in state. The death of Miss Seraphine Roth, of New Orleans, took place in New York, under especially mournful circumstances. Miss Roth was the daughter of Jacob' Roth, a German merchant in the Crescent city. She died of heart disease. The German and Italian Anarchists mean mischief. Letters from Zurich, which have been intercepted, refer to some plot against Emperor William and give rise to the belief that he will be attacked during his tour of Italy. The United States' cruiser Baltimore was launched at Crump's ship yard on the Delaware River, near Philadelphia, Pa. Mrs. Theodore D. Wilson, wife of the chief of the Bureau of Construction of the Navy Department christened the vessel. Francis W. Williams, junior member of the well known banking house of Williams, Black & Co., committed suicide at the Grand Union hotel, New York, on Monday. The firm was squeezed by the "Old Hutch" wheat corner, and suspended on the 26th of September. The International Bank of Berlin, Germany, has been founded with a capital of $5,000,000. Itabsorbs Goldberger's banking business without taxing the liabilities. The directors include Goldberger and Dessaner, manager of Rothchild's Vienna house, who are president and vice-presdents respectively.


Article from The Superior Times, October 13, 1888

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SUICIDE OF A BANKER. Tragic Result in New York City of the Hutchinson Wheat Corner. Francis W. Williams, the senior member of the well-known banking house, Williams, Black & Co., of 1 William Street, New York, committed suicide by shooting at the Grand Hotel in that city, on the 8th. The firm was -squeezed in the Hutchinson wheat corner in Chicago, and suspended September 29, but rallied, and opened for business Oct. 1. The firm is said to have lost heavily although still solvent. Mr. Williams has been acting strangely since that crisis in the firm's affairs. He was 61 years old and leaves two sons and a wife. In a note addressed to his wife, and found in the room where he took his life, he said his business troubles had made him wear of life. He asked the forgiveness of his family for the deed he was about to commit.


Article from Yorkville Enquirer, October 17, 1888

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Article Text

Scraps and facts. Within the past month nearly 4,000 persons of foreign birth have been naturalized at St. Louis. and the showing exceeds anything on record. It is believed that gigantic election frauds are contemplated and some startling developments are an ticipated. The longest through car service on any railroa line in the world is said to be on the Southern Pacific road between New Orleans and San Francisco, 2. 495 miles The fastest through train on this road is timed at 113 hours and twenty-five minutes, or at the rate of twenty-two miles per hour The Connecticut State prison at Weathersfield contains two wife murderers One of them. Jake Brown, who has been in the prison only a year, has gone crazy brooding over the crime The other, thirtyyears ago held his wife under water until she died. He seems to enjoy the life that he has been leading for over thirty years. grows fat on prison fare, and is a vigorous man of 60 years. Three months ago M. H. Wilson, of Marquette, Mich., was shot, the ball passa ing clear through his neck, tearing out portion of the vertebra and causing complete paralysis of the body below the neck The doctors don't know what to make of it He can't feel pins stuck anywhere in his body but retains his flesh and his appetite, and can talk and read. His flesh below the neck is descr ibed as "white as alabaster and nerveless as sponge. The coldest day will fall between January 20 and 30. according to Gen. Greely's prediction. According to his explanatic the coldest day does not occur at the winter solstice, but somewhat later, since the greatest cold must be experienced at that time of the year when the amount of heat received from the sun becomes equal to that lost by nocturnal radiation. As might be expected the coldest day falls earlier in the southern part of the country than in the northern. A citizen of Eatonton, Ga.. smokes about twelve pounds of tobacco yearly in a pipe that he declares is over two hundred years old. This leads a mathematical person to calculate that if that were the average amount used in the pipe since its first day. 2,400 pounds of the weed have been burned in its bowl and if the first $12 had been put out at compound interest at the rate of 10 per cent would now have grown to the sum of $1,755,443,200. Just how this would have benefitted the first owner of the pipe does not appear. In the two hospitals at Duluth, Minn. there are now over eighty cases of typhoid fever, and in all it is estimated that there are about 300 cases in the city Two prominent physicians, the health officer and many prominent merchants are ill, and some of the best known men in the town have died of the fever There is apparently no way to cheek the ravages of the disease, and new cases develop every day The cause is thought to be the tearing up of of the street paving and the existence numerous swampy spots along the railroad tracks. Settled after litigation of two centuries and half The case of the town of Mid dleburg (R. I.) vs. the Newport Hospital involving the right to take sand and gravel from Sachusett Beach, and which has been pending 250 years, has been decided in the Rhode Island Supreme Court, where Chief Justice Durfee read an opinion sustaining the rights of the inhabitants of Newport in the valuable product of the beach. The beach is in Newport but its owner dis posed of its product in such way that the Newport Hospital and Newport inhabitants were debarred from using it. Francis W. Villiams, sepior member of the well-known banking house of Williams Black & Co., of New York, committed suicide at the Grand Union Hotel on the 8th instant. The firm was squeezed in the recent wheat corner and suspended on the 29th of September, but rallied and opened for business on the 1st. The firm said to have lost hea although still solvent. Williams has been acting strangely since that crisis. He was 61 years old and leaves two sons and a wife. He shot himself with pistol and left a note addressed to his wife in which he said that business troubles had rendered life a burden to him. More than half of the liquor saloons in New York city are not paying expenses, and many of their keepers are constantly going out of the business. These facts were vouched for by Commissioner Stern at a recent meeting of the commission for the revision of the excise law The records of bankruptcy, the records of the board of excise. and the reports of the police confirm their truth. The losses of the saloon keepers from poor pay and otherwise are heav ier than those in any other line of business. Almost any one of them stands ready to tell how many customers seek to postpone payment, and how many friends try to get friendly drink and how many beats turn up at the bar. and how much blackmail is fevied under various pretexts, and how often it is necessary to take means of avoiding arrests and raids. During the eight months ending with August there came to the United States nearly 400.000 immigrants, (392.937,) or about 30,000 more than in the first eight months of last year It is worth noting that while England and Wales sent us 2.000 less than last year and Ireland only 700 more, Scotland sent 2.100 more. The Germans were slightly less, but in all other nationalties there was an increase. Of the total immigration for the eight months every 100 was made up substantially as follows: British, 31 German, 19 Bohemian, Austrian. Hungarian, Polish and Russian, 18: Scandinavian, 15 Italian, 10. and other countries, Of the British immigrants 43 per cent were Irish, 42percent English and Welsh, and 15 per cent Scotch. During the eight month the most remark able increase was in the Russian, Hungarian and Polish, which reached 75,000, an advance of 17,500 over last year. Of the gambling in wheat and the grain speculations of two weeks ago and their probable depressing effect upon legitimate business, Dun's review says: The great wheat speculation has been the osorbing feature this week. for, though the September corner came to an end with heavy losses for sellers, it left the market in such a state that much higher prices for other options were easily obtained With December wheat at $1.18 at Chicago, there came heavy selling and sharp re-action But thestate of the market is still against all reason. Cash wheat sells for more at Chicago than at Liverpool, and at one time it would have paid to ship wheat back from Antwerp to New York The effects of this wild speculation will be injurious to legitimate trade, both foreign and domestic, and to consumers in this country it has already brought dearer flour and an advance in the price of bread At New York sales of wheat amounted to 108,463,000, bushels, more than three times the entire visible supply, and prices closed


Article from Watertown Republican, October 17, 1888

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SUICIDE OF A BANKER. Tragic Result in New York City of the Hutchinson Wheat Corner. Francis W. Williams, the senior member of the well-known banking house, Williams, Black & Co., of 1 William Street, New York, committed suicide by shooting at the Grand Hotel in that city, on the 8th. The firm was squeezed in the Hutchinson wheat corner in Chicago, and suspended September 29, but rallied, and opened for business Oct. 1. The firm is said to have lost heavily although still solvent. Mr. Williams has been acting strangely since that crisis in the firm's affairs. He was 61 years old and leaves two sons and a wife. In a note addressed to his wife, and found in the room where he took his life, he said his business troubles had made him wearv of life. He asked the forgiveness of his family for the deed he was about to commit.


Article from Barton County Democrat, October 18, 1888

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CARROLL TILTON, oldest son of Theodore Tilton, of Beecher scandal fame, was married in Brooklyn the other night to Miss Miriam Alice Blauvelt. Mrs Tilton was one of those present. FRANCIS W. WILLIAMS, senior member of the well known banking house of Williams, Black & Co., committed suicide at the Grand Union Hotel, New York, recently. The firm was squeezed in the Hutchinson deal in Chicago and suspended September 29, but rallied and opened for business October 1. A HEAVY snow storm was reported throughout Northern Vermont and New York on the 9th. THE charter election held at Newark, N. J., on the 9th showed a Democratic gain on the general ticket of about 700. For the first time in thirty years the Democrats carried the city at the charter election previous to the Presidential election. HEAVY floods are reported in the St. Croix and Aristook rivers in Maine, great damage being done. THE National Union Veterans in annual encampment at Pittsburgh, Pa., on the 10th elected the following officers for the ensuing year: Commander-in-Chief, Robert Afton, of Washington; first deputy commander, Robert A. Frederich, of Topeka, Kan.; second deputy, H. McEowen, of Titusville, Pa.; surgeon-general, Dr. W. H. Smith, of St. Clair, Mich. A SERIOUS disaster occurred at Quincy, Ill., on the night of the 10th, during the annual celebration, caused by the collapse of the large amphitheater erected for the occasion. About 5,000 persons were precipitated in a confused mass, of whom 500 were more or less injured, a lawyer named Albert Wells fatally. It was feared the injuries of others would result fatally. THE sheriff has seized the property of the New York Star upon attachments secured by George F. Perkins, paper dealer, in a suit for $16,000. THE call for the annual convention of the American Federation has been issued from Pittsburgh, Pa. It will be held in St. Louis December 11. THE general railway time convention was in session, at the Hoffman House, New York, on the 10th. Eighty companies were represented.


Article from The Iola Register, October 19, 1888

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THE EAST. THOMAS CARR, a newsboy, was burned to death by a fire in a livery stable at 404 East Thirty-fourth street, New York, the other morning. John Roach, another newsboy, was also shockingly burned. Twenty-seven horses were consumed in the flames. Loss, $40,000. THE first day's registration in New York City numbered 96,047 names. FRANCIS W. WILLIAMS, senior member of the well known banking house of Williams, Black & Co., committed suicide at the Grand Union Hotel, New York, recently. The firm was squeezed in the Hutchinson deal in Chicago and suspended September 29, but rallied and opened for business October 1. THE charter election held at Newark, N. J., on the 9th showed a Democratic gain on the general ticket of about 700. For the first time in thirty years the Democrats carried the city at the charter election previous to the Presidential election. THE National Union Veterans in annual encampment at Pittsburgh, Pa., on the 10th elected the following officers for the ensuing year: Commander-in-Chief, Robert Afton, of Washington; first deputy commander, Robert A. Frederich, of Topeka, Kan.; second deputy, H. McEowen, of Titusville, Pa.; surgeon-general, Dr. W. H. Smith, of St. Clair, Mich. A SERIOUS disaster occurred at Quincy, Ill., on the night of the 10th, during the annual celebration, caused by the collapse of the large amphitheater erected for the occasion. About 5,000 persons were precipitated in a confused mass, of whom 500 were more or less injured, a lawyer named Albert Wells fatally. It was feared the injuries of others would result fatally. THE sheriff has seized the property of the New York Star upon attachments secured by George F. Perkins, paper dealer, in a suit for $16,000. THE call for the annual convention of the American Federation has been issued from Pittsburgh, Pa. It will be held in St. Louis December 11. THE general railway time convention was in session at the Hoffman House, New York, on the 10th. Eighty companies were represented.