Hollis White & Company.'s Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: private
Start Date: June 14, 1861
Location: Niagara Falls, New York (43.094, -79.057)

Metadata

Model: gpt-5-mini
Short Digest: 50549c58

Response Measures

None

Description

Articles (June 14 and June 22, 1861) announce the suspension of Hollis, White & Co.'s Bank and the appointment of a receiver (J. F. Trott). No mention of depositor runs in the texts; sequence is suspension followed by receivership (permanent closure). Corrected bank name punctuation to standardized form.

Events (2)

1. June 14, 1861 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank suspended operations; article gives circulation and security details but announces suspension (implies bank-specific failure/insolvency).
Newspaper Excerpt: The suspension of Hollis, White & Co.'s Bank, of Niagara Falls, is announced.
Source: newspapers

2. June 22, 1861 Receivership

Newspaper Excerpt: Mr. J. F. Trott has been appointed Receiver of Hollis, White & Co.'s Bank of Niagara Falls.
Source: newspapers

Newspaper Articles (2)

1. June 14, 1861 The New York Herald New York, NY

Article from The New York Herald, June 14, 1861

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Article Text

defray the extraordinary outlay involved by the war. These points may interfere with the corner. At the morning board to-day, Central advanced ; between the boards it was 3/8 higher again; in the afternoon it sold at 73, a decline of 1/10 State stocks were scarce again to-day, and Virginias advanced 1/8, and Missouris 1/4. Erie was 1/2 better, Harlem1 Michigan Central 1/4, Galena 1/2, Toledo 3/8; the other railway shares were steady. After the board the market improved. At the second board the market was very dull indeed, clcsing so. The following were the last quotations:-United States 5's, 1874, 75 1/4 a 76; Tennessee 6's, 35 1/8 a 35 1/4; Virginia 6's, 4134 a 42; Missouri 6's, 3734 a 377/8; Canton Company, 8 a 9; Cumberland Coal preferred, 41/2 a 51/4; Delaware and Hudson Canal, 78 a 80; Pennsylvania Coal, 76 a 78; Pacific Mail Steamship, 641/2 a 65; New York Central Railroad, 731/8 a 7314; Erie, 221/2 2 23; Hudson River, 32 a 3214; Harlem, 10 a 1014; do. preferred, 231/2 a 24; Reading, 303/4 a 311/2; Michigan Central, 42 a 4234; Michigan Southern and Northern Indiana, 101/3 a 111/4; do. guaranteed, 23 1/2 a 24; Panama, 1051/2 a 1061/1; Illinois Central, 653/4 a 66; Galena and Chicago, 591/4 a 591/; Cleveland and Toledo, 22 a 2214; Chicago and Rock Island, 341/; Chicago, Burlington and Quincy, 52 a 55; Milwaukee and Mississippi, 12 a 14 La Crosse and Milwaukee land grant bonds, 81/2 a 9; Illinois Central bonds, 89 a 90. The business of the Sub-Treasury was as follows to-day:Receipts $836,865 41 -For customs 18,000 00 Payments 401,486 20 Balance 9,578,748 24 The house of Brandt & Co., which is reported as having failed, is of St. Petersburg, the successors of the great house of Stieglitz & Co. The London house was Richard Brant & Co., no connection of William Brandt, Sons & Co. A despatch from Philadelphia states that the entire State loan of three millions of dollars for the war has been taken at par. The suspension of Hollis, White & Co.'s Bank, of Niagara Falls, is announced. According to the last annual report of the Superintendent of the Banking Department, the circulation is $14,998, protected by the deposit of $15,000 of New York State sixes. The exchanges at the Bank Clearing House this morning were $15,749,106 20, and the balances $954,746 08. The Board of Underwriters have again reduced the war rate, making it only 1 per cent, which is a return to the old rates of a fortnight ago. This action is prompted by the later advices from Europe in regard to privateering.

2. June 22, 1861 New-York Daily Tribune New York, NY

Article from New-York Daily Tribune, June 22, 1861

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Article Text

weeks of the month. Between the Boards the market was heavy and very dull. At the Second Board, with Stocks freely pressed on the market, there was great indifference among buyers, and still lower pointe were touched. New-York Central was 1 P than at fell off to 212; at cent preferred lower the Gadena, close of after yesterday. selling Harlem 601, offered at 591, and Western shares generally were weak. In Bank Stocks there not is but was very the market is firmer. In Railroad is Bonds much there doing, no change of importance and the transactions are very limited. The market for Government is languid and lower prices have been established. The 6's of 1861, registered, sold at 84 against 843 yesterday. The Coupon Bonds are 831@831. After the regular session, in the street the market was very heavy with nothing doing. The closing quotations were: Tennessee 68, 36@36; Virginia 6a, 39@391; Missouri 6e, 371@371; Canton Co., 81; Delaware and Hudson Canal, 80; Pennsylvania Coal,77; Pacific Mail Steamship Co., 651@651; New-York Central Railroad, 731@731; Erie Railroad, 22@231; Hudson River Railroad, 321@321; Harlem Railroad, 83@9; Harlem Railroad Preferred, 211@211; Reading Railroad, 32@33; Michigan Central Railroad, 41 1@411; Michigan Southern and Northern Indiana Reilroad, 111 113; Michigan Southern and Northern Indiana Guaranteed Stock, 25@251; Panama Railroad, 106@108; Illinois Central Railroad, 65@651; Galena and Chicago Railroad, 591 @59g; Cleveland and Toledo Railroad, 231023 #: Chicago and Rock Island Railroad, 31@34}; Chicago, Burlington and Quincy Railroad, 551@56; Illinois Central, 89@891. There is but little activity and no change in sterling bills. The quotation is 105@1052 for leading signatures. Francs are more plenty, and rather lower. We quote: 5.421@5.361. Freighte-Rates are again lower: To Liverpool, 14,000 bush. Corn at 6@6ld., in bags; 24,000 bush. Wheat at 61@7d., in bags, and 2,500 bble. Flour at 1s.@1s. 3d. Per steamer, 1,000 bbls. Flour at is. 6d. To London, 1,500 bush. Wheat at 8@8jd., in bulk and bags; 1,500 bbls. Flour at 2s. 3d. @28. 6d., and 60 tune measurement Goods at 17s. ed. To Glasgow, 25,000 bush. Wheat on private terms. To Antwerp, 1,000 bush. Rye at 9d., in bulk. A vessel to Dublin, with 12,000 bush. Wheat at 10d. The business of the Sub-Tressury was: Receipts, $207,618 58-for Customs, $14,000; Payments, $434,993 14; Balance, $8,189,407 43. The returns from the Mint to-day were about $525,000, including silver. The business of the Clearing. House was $12,561,000, which is small. The Bank of New-York has declared a dividend of 3 P cent, payable July 1. The Mercantile Fire Insurance Company a dividend of 6 ₽ cent, on 1. The a after has declared July Metropolitan Bank payable has declared and dividend of 3 ₽ cent, payable July 1. The Fitchburg Kailroad has declared a semi-annual dividend of 3 cent. The Brooklyn Fire Insurance Company has declared its usual semi-annual dividend of 10 cent, payable July 1, leaving a balance of 71 P cent to carry to the surplus fund, which now amounte to $119,833. Mr. J. F. Trott has been appointed Receiver of Hollis, White & Co.'s Bank of Niagara Falls. The notes of the Bank of Albany, of the J. W. Rum. sey & Co.'s Bank, and of the Bank of the Capitol, are redeemed at par by the Bank Department. The July interest on the Chicago, Burlington, and Quincy Road bonds will be paid at the Bank of Commerce in this city. Annexed is the monthly report for April of H.J. Jewett, Receiver of the Central Ohio Railroad: $12,261.70 To balance as per last report