Yorkville Savings Bank - New York, NY

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: March 9, 1880
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: 8e58464b

Response Measures

None

Description

Article (1880-03-09) states a New York receiver 'of the Clairmont Savings Bank' pocketed cash and disappeared, indicating the bank was broken and in receivership. The piece does not explicitly describe a run or prior suspension, but receivership implies permanent closure; classified as suspension_closure with note that suspension is not explicitly mentioned in the text.

Events (1)

1. March 9, 1880 Receivership

Newspaper Excerpt: Some of the New York receivers, like he of the Clairmont Savings Bank, pocket what cash they can get hold of and disappear.
Source: newspapers

Newspaper Articles (1)

1. March 9, 1880 The Wheeling Daily Intelligencer Wheeling, WV

Article from The Wheeling Daily Intelligencer, March 9, 1880

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Article Text

ally pockets in fees nearly all that is left, and the lawyers get a good round sum. Some of the New York receivers, like he of the Clairmont Savings Bank, pocket what cash they can get hold of and disappear. In the case of the Yorkville Savings Bank the lawyers pocketed eighty per cent of the assets. Of the assets of the broken Stuyvesant Bank, amounting to $60,000, four-fifths was expended in litigation about the receivership. Only one of these wrecked banks has paid its depositors in full, after the cashier sloped with $10,000. This is only a small portion of the sickening record. It is no wonder that throughout the country, where the wrecking has been going on on a smaller scale than in New York, there is a general disgust with savings banks, which are generally coming to be regarded as robbers' roosts. They will continue to fall in public estimation until laws are passed making the stockholders individually liable to the extent of the entire losses. If men who organize savings banks are not willing to secure depositors, they should not be allowed to engage in the business.