Article Text
NYACK, N. Y., Dec. 28.-The Rockland county national bank. of Nyack, suspended payment this morning. Receiver Appointed. New Vonr Doe n to der
16815. Rockland County National Bank (Nyack, NY)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 1286
- Charter Number
- 1286
- Start Date
- December 28, 1877
- Location
- Nyack, New York (41.091, -73.918)
Metadata
- Model
- gpt-5-mini
- Short Digest
a66e4fcb
Response Measures
None
Description
The bank suspended payment on 1877-12-28 (multiple reports). A receiver was appointed at suspension. Stockholders voted to put the bank into voluntary bankruptcy/liquidation on 1878-01-10. No run is reported in the articles; cause of suspension is not specified in the notices.
Events (5)
1.
June 16, 1865
Chartered
- Source
- historical_nic
2.
December 28, 1877
Receivership
- Newspaper Excerpt
- The Rockland county national bank. of Nyack, suspended payment this morning. Receiver Appointed.
- Source
- newspapers
3.
December 28, 1877
Suspension
- Cause Details
- Articles announce suspension but do not state a specific cause (no runs, rumors, or bank insolvency details provided).
- Newspaper Excerpt
- The Rockland County National Bank, of Nyack, N. Y., suspended payment this morning.
- Source
- newspapers
4.
January 10, 1878
Other
- Newspaper Excerpt
- the Rockland County National Bank at this village, which suspended payment December 28, was, by a vote of the stockholders to-day, thrown into voluntary bankruptcy.
- Source
- newspapers
5.
January 10, 1878
Voluntary Liquidation
- Source
- historical_nic
Newspaper Articles (12)
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Still Another Bank Suspension. NYACK, N. Y., Dec. 28.-The Rockland county national bank has suspended.
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has been arrested on a charge of robbing the United States mails. The President to day signed a full pardon for Frank S. Hinkle, convicted in November last of forgery. Courtney's Challenge. AUBURN, N. Y., Dec. 28. Courtney challenges any oarsman in the United States or Canada for any amount and the championship of America; the race to be rowed prior to the cricket match in July next. Bank Suspension. NYACK, N. Y., Dec. 28. The Rockland County National Bank has suspended.
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Financial and Commercial Troubles. SUSPE NSION OF THE NYACK BANK. NYACK, N. Y., December 28.-The Rockland County National Bank, of Nyack, N. Y., suspended payment this morning. NEW YORK, December 28.-A receiver has been appointed for the Jersey City Savings Bank. OTHER BUSINESS TROUBLES. HALIFAX, N. S., December 28.-John B. Flowers, dealer in boots and shoes, has gone into insolvency. Edward Albro & Co., hardware merchants, are embarrassed. Liabilities, $160,000; assets, $100,000. FAILURE OF A REAL ESTATE SAVINGS INSTITUTION. ST. LOUIS, December 28.-The Real Estate Savings Institution has suspended. Assets, $450,000, mainly in bonds and mortgages. Liabilites to depositors, $255,000. It is thought the depositors will be paid in full, and perhaps the stockholders will receive something. The shrinkage of real estate and inability to realize on securities is the cause.
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THE Rockland County National Bank, a Nyack, suspended payment yesterday.
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ANOTHER BANK SUSPENSION. NYACK. N. Y., Dec. 28, 1877. The Rockland County National Bank, of Nyack, N. Y., suspended payment this morning.
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Near Barnesville, Md., on the 27th, Lord G. Jamison killed Thomas Warfield in a quarrel. Warfield was paying attention to Jamison's sister. G. A. Bailey, the publisher of the Congressional Globe, died at Deering, Me., on the 26th. Gen, George W. McCook, of Ohio, was stricken with paralysis while eating a Christ-mas dinner at the residence of his cousin, Hon. Anson G. Cook, of New York City, and died on the following Friday. The Rockland County National Bank, of Nyack, N. Y., has suspended.
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Domestic. Navigation of the Hudson river is closed by ice. Sixty negroes sailed from New York for Liberia, Monday. George Washington, colored, killed his brother-in-law at Washington. The Rockland county National Bank of Nyack, N. Y., suspended. W. W. Heaton, chief justice of the appellate court of Illinois, is dead. Shoemakers at Lynn, Mass., are striking. Savings bank at Launton, Mass., failed. Real Estate Savings Institution of St. Louis suspended; assets ample. Ralph Waldo Emerson has been elected a foreign associate of the French Academy of Moral Sciences. The ship Nimbus, with a cargo of wheat, was lost off Columbia river bar. Crew saved. One boy dangerously wounded another while firing at a target with a small pistol, at New Orleans. A negro knocked down, outraged and robbed a sixteen year old girl, in Washington city. The schooner Josephine, from Long Island City, for Orient, is supposed to healest, with five souls on board. Geo. B. Bigelow, a prominent Boston lawyer, is charged with embezsling $40,000 in trust funds. Jacob Harness was executed at Clinton, Tenn., for the murder of Isaac White in 1863.
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Financial Disasters. The following failures and suspensions were announced on Saturday last J. D. Park & Co., wholesale druggists of Cincinnati. There is no statement of their liabilities and assets. Edward Albro & Co., hardware merchants, of Halifax, N. S., are reported embarrassed. They are said to owe $160,000, and to have only $100,000 to pay it with. John B. Flowers, dealer in boots and shoes, of the same city, has failed. The Real Estate Savings Institution in St. Louis. Its assets, mainly bonds and mortgages on real estate, are placed at $450,000. The liabilities to depositors are about $255,000. It is thought the depositors will get their money back, and perhaps the stockholders receive something. The trustees of the West Boston Savings Bank, in Boston, decided to close up the concern. The Rockland County National Bank, at Nyack, N. Y., suspended. A receiver for the Jersey City Savings Bank was appointed. The Bank Commissioners of New Hampshire have cut down the deposits in the Derry Savings Bank 25 per centum, to meet the shrinkage in its investments, and it is understood that the bank will hereafter pay but 4 per cent. interest. At Evanston, Ill., the Stephen P. Lunt Smelting and Refining establishment has gone into bankruptcy. Liabilities $105,000; assets $83,000. Herman Schwab, cigar dealer of the same city, has also become bankrupt. He owes $26,000 and has about $7000 worth of assetts. George B. Bigelow, a prominent lawyer of Boston, was arrested on Saturday, on the charge of embezzling $40,000 which he held in trust. He was released on $60,000 bail. George Winks & Co., dry goods importers of Montreal, failed on Saturday. They owe $800,000 and promise to pay 75 cents on the dollar. The bank of George M. Brooks, Lowville, N. Y., was compelled to suspend Saturday, by a run. It owes $60,000 and claims to have equal assets. There was a partial run on the Rochester Savings Bank, at Rochester, N. Y., Saturday. It was entirely causeless. The bank has a surplus of $700,000. Oe Monday the failure was announced of the well-known New York brokers, Bonner & Co., and the flight of John Bonner, the senior member of the firm, to Canada. Several other firms have failed in consequence. The Bankers and Brokers Association, of which Bonner was president, her also suspended, having been "gutted" by Bonner. The liabilities of the firm are variously estimated at from $400,000 to $1,000,000. Polledo, Rionda & Co., large sugar traders at Havana, Cuba, failed. The liabilities are unknown. The enxtensive banking house of Jacob Bunn, of Springfield, Ill., made an assignment Wednesday. His wife joins him in the assignment. It is said the liabilities will reach $800,000, and that the assets will be sufficient to pay everything if time be allowed and the property not sacrificed. The immediate cause of the failare was the large amount of unproductive real estate held by the bank. Hickox & Spear, bankers, of San Francisco, suspended Wednesday. In the city of New York, during December, one hundred failures and assignments, with liabilities aggregating nearly $8,000,000, were reported. This is the heaviest record of the kind for any month of 1877, and the figures show an increase of 25 per cent. in number and 300 per cent. in amount on the list for November.
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ROCKLAND COUNTY NATIONAL BANK. NYACK, N. Y., Jan. 10.-The Rockland County National Bank at this village, which suspended payment December 28, was, by a vote of the stockholders to-day, thrown into voluntary bankruptcy.
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NEWS SUMMARY. Eastern and Middle States The Rockland County National Bank of Nyack, N. Y., has suspended payment. The body of Herzberger, the engineer in the New York candy factory, where the recent terrible explosion took place, has been recovored from the ruins. By an explosion in a mine near Wilkesbarre, Pa., seven persons were injured, one mortally. Seventy-five thousand tons of Seranton coal were sold in New York at an advance on previous prices. The trustees of the West Boston Savings Bank voted to close up the institution in the most economical manner possible. After a trial of several days Mayor Ely withdrew the charge of inefficient and capricious enforcement of the laws, made against the police commissioners of New York. George M. Brooks' bank of Lowville, N. Y., has suspended payments, the liabilities being placed at $60,000. At a dinner given to General Banks in Boston Hon. Benjamin F. Butler made a speech, denonuciatory of the President for not upholding Packard and Kellogg in Louisiana. Five buildings were burned in Jamaica, Long Island, and a loss incurred of $12,000; and in Westerly, R. I., several houses were destroyed by fire, the damage being estimated at $80,000. At Boston, Mass., the arrest of George B. Bigelow, a well-known lawyer, took place on the charge of having misappropriated the sum $40,000, which was held in trust by him. The New York Legislature met in Albany and organized, James W. Husted (Republican) being elected speaker of the assembly. John Bonner & Co., well-known stock brokers of New York city, failed. The amount involved by their failure is about $1,000,000, and upon the heels of the financial fall of the firm came the suspension of the New York Bankers' and Brokers' Association, of which Mr. Bonner was president, and all of whose available resources be had utilized. Many bankers and brokers had left securities in the hands of the firm as collateral for loans, and these securities could not be found, as Bonner had fled from the city just before fhe crash. Three more bodies have been recovered from the ruins of the New York candy manufactory. The Pennsylvania Legislature met at Harrisburgh and organized. One hundred failures and assignments were reported in New York in December, the aggregate liabilities of which were nearly $8,000,000. Miss Lizzie Davis, aged nineteen was stabbed and instantly killed in her home in Ferndale, Pa., by John Haddock, aged twenty-one, who then proceeded to his house, & few doors off, and shot himself through the heart. Jealousy is believed to have led to the double tragedy. Thomas 8. Lambert, ex-president of the American Popular Life Insurance Company, of New York, recently found guilty of perjury in swearing to false statements of the company's condition, was sentenced to five years' imprisonment at hard labor in the State prison. A fire at Salem, N. J., destroyed a number of buildings in the business part of the place, doing damage to the extent of about $40,000. Two excise bills and & New York city charter amendment have been introduced in the New York Legislature. At a meeting of the directors of the Bull's Head Bank, of New York, it was resolved to wind up the affairs of the institution. Governor Conner was inaugurated at Augusta, Me., and Governor Rice at Boston, Mass. Four of the former managers of the Charter Oak Life Insurance Company, of Hartford, Conn., have been indicted for conspiring to defraud the policy holders, as alleged in the complaint. The Woburn Five Cent Savings Bank, of Woburn, Mass., has been enjoined from doing futher business : and the Rollinsford Savings Bank, of Salmon Falls, N. H., has given notice that it will pay up depositors as fast as possible and retire from business. A fire in Harrisburg, Pa., destroyed the malt house of B. M. Greider & Co., causing a loss of $70,000, on which there is $55,300 insurance and A fire in Franklin, Pa., burned down Bailey's block, causing a loss estimated at $30, 000, on which there is & partial insurance. Several vessels were wrecked and many lives were lost by a severe storm of wind and snow along the Atlantic coast in the vicinity of Cape
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MMARY OF NEWS. Eastern and Middle States. According to the State census of New York for 1875, just published, the total population is 4,698.958, of whom the native born number 3,503,300 and the foreign 1,195,658. The latter comprises 517,377 from Ire'and: 367,851 from Germany 119,090 from England and the rest scattering. The whole number of voters in the State is 1,141, 462, of whom 747,280 are natives and 394,182 of foreign birth. The New York Aldermanic committee, investigating the ring frauds, have made a report, in which they state that the testimony taken disclosed frauds upon the city to the enormous amount of $30,000,000, of which sum only $876,000 has been recovered. The report states that all parties and organizations were represented in these enormous frauds and the committee are of the opinion that with the aid of the testimony taken the city can save over $2,000,000 in suits now pending against it. By a vote of thirteen to seven the New York board of aldermen passed a resolution to recommend to the attorney-general and corporation counsel the release of William M. Tweed from imprisonment after securing for the city such property as is still in his possession and after taking such means to secure his testimony in the future as may be deemed necessary. A great amount of damage was done by the recent severe storm on the Atlantic coast. Eight schooners and other vessels were driven ashore. The steamer Old Colony, of the New York and Fall River line, had an accident happen to her machinery and drifted helplessly at the mercy of a high sea for eleven hours. but was eventually towed out of danger into Newport by a wrecking company's steamer. J. F. Taft & Co.'s earthen and stoneware establishment at Keene, N. H., was destroyed by fire. Loss, $15,000 partially insured. The Thompsonville (Conn.) Savings Bank has been ordered to suspend business by the State bank commissioner until an examination into its affairs can be made. The Ellengowan coal breaker at Shenandoah, Pa., was destroyed by fire, and a loss caused of about $100,000 and a fire in a mine at Summit Hill. Pa., burned fiercely for a long time and did a large amount of damage. A fire that broke out in the building occupied by Houghton & Co., publishers, Cambridge, Mass., destroyed 70,000 sheets of a portion of Webster's dictionary, a large portion of the February number of the Atlantic Monthly, and an immense quantity of sheets of other works, entailing a loss of about $10,000. The Pottsville Bank of Pottsville, Pa., closed its doors to depositors upon a resolution of the board of directors. Resolutions in favor of remonetizing silver and repealing the resumption act have been introduced in the Pennsylavnia Legislature. Sarah Sharp and Etta Hazeltine, aged eleven and fifteen, broke through the ice on a pond near Hyannis, Mass., and were drowned. The annual auction of pews in Plymouth Church, Brooklyn, brought lower prices than in former years, $550 being the highest sum paid for pew. The New Jersey Legislature organized and elected George C. Ludlow president of the Senate and John Eagan speaker of the House. Governer Bedle's message was received. Hon. William M. Evarts was elected president of the New York Bar Association. and ExGovernor Samuel J. Tilden one of the vicepresidents on the same ticket. Mrs. Mariam Berry, of New Durham, N. H. a widow of sixty-four years, was shot dead in the presence of her family by John L. Pinkham, her hired man, with whom there had been some dispute in regard to the payment of wages. Pinkham was found half a mile away from the scene of the tragedy with his throat cut. Theodore R. Wetmore, late vice-president of the defunct Security Life Insurance Company of New York, found guilty of making false statements in regard to the company's condition, was sentenced to one year's imprisonment at hard labor in the penitentiary and a fine of $250. Mr. Case, the late president of the company, was recently sentenced to imprisonment for the same offense. Edward J. Dunning, a Wall street broker has failed for nearly $600,000, several banks being among his creditors. The Republican State convention of New Hampshire was held in Concord, and nominated B. F. Prescott. the pres nt incumbent, for governor and David S. Willard for railroad commissioner. The platform adopted denounced any legislation, open or disguised, tending to repudiate the public debt, favored resumption of specie payments, economy in public affairs. approved of the efforts to extend commerce, and opposed further land grants. In regard to President Hayes and his policy the platform says While we admit an honest difference of opinion in respect to his past acts, we welcome and approve his patriotic and sincere efforts to keep faith with the people, and secure to the whole country the blessings of a just, efficient and honest Republican national administration.' Pending an investigation by the Massachusetts bank commissioners the Great Barrington Savings Bank has suspended payment. The deposits amount to $407,000 and the total liabilities $414,000, In the New York Legislature a resolution was passed protesting against the passage by Congress of the Bland silver bill. At the annual inter-collegiate oratorical contest, held in New York, C. P. Mills, of Williams College, won the first prize. At the annual meeting of Plymouth Church a letter was read from Mr. Beecher, offering to give up one-quarter of his salary, and the offer was accepted. Francis B. Wynkoop, a retired New York varnish dealer, went into bankruptcy with 118bilities of $282,000. Engene A. Shepperdson, paying teller of the Rochester (N. Y.) savings bank, proved a defaulter to the extent of $9,000. He was ruined by fast horses and stock speculation. The stockholders of the Rockland county national bank, of Nyack, N. Y., voted that the institution should go into voluntary liquidation. Western and Southern States. Considerable excitement has been caused in the Black Hills by the discovery of a number of oil wells. The death is announced of the Hon. Richard Mumford Pierson, chief justice of the North Carolina supreme court, at the age of seventy. three. The drug manufactory of Murray & Nelson, Chicago, was burned. Loss, $20,000. William E. Smith, governor, and other State efficers of Wisconsin, were inaugurated at Madison. Brown's block at Lagrange, Ind., was destroyed by a fire. Loss, $30,000 partially insured. At Ripon, Wis., Kellogg's block was burned and a loss caused of $30,000, on which there is $25,000 insurance.