16850. Owego National Bank (Owego, NY)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
2996
Charter Number
2996
Start Date
May 23, 1890
Location
Owego, New York (42.103, -76.262)

Metadata

Model
gpt-5-mini
Short Digest
d8ad06ba

Response Measures

None

Description

The Owego National Bank suspended on 1890-05-23 due to a cashier's large shortage/defalcation tied to alleged fraud (linked to the 'Big Four' collapse and Public Grain & Stock Exchange charges). There was no reported run; articles state few withdrawals and depositors were not alarmed. The bank resumed business in early June 1890 with a new cashier. Reports vary on shortage estimates ($30,000 to $100,000); deposits reported at $52,000 in some articles and $156,000 in another—OCR and reporting inconsistencies in contemporaneous dispatches. Dates taken from article datelines: suspension reported May 23, 1890; reopening reported June 2–3, 1890 (I use June 3).

Events (3)

1. July 9, 1883 Chartered
Source
historical_nic
2. May 23, 1890 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closure followed discovery/charges of cashier C. A. Thompson's defalcation and alleged conspiracy to defraud the Public Grain and Stock Exchange; also tied to 'Big Four' collapse reports.
Newspaper Excerpt
Pending an examination of its affairs, this bank is temporarily closed. Depositors need have no fear.
Source
newspapers
3. June 3, 1890 Reopening
Newspaper Excerpt
The Owego National Bank has resumed business. There was no run on the institution... A. H. Upton has been appointed cashier in place of Thompson.
Source
newspapers

Newspaper Articles (15)

Article from New-York Tribune, May 24, 1890

Click image to open full size in new tab

Article Text

AN OWEGO BANK SUSPENDS. Binghamton, N. Y., May 23.-The Owego National Bank of Owego is not doing business to-day. On the closed doors is posted the following note: Pending an examination of its affairs, this bank is temporarily closed. Depositors need have no fear. The cashier of this bank is C. A. Thompson. who is charged by C. H. Platt, president of the Public Grain and Stock Exchange. with acting in concert with James F. Dee, to defraud the Exchange of 830,000. Dee was the correspondent of the Exchange at Owego. People who have been doing business with the bank do not appear to be at all alarmed. A late dispatch from Owego says: "The suspension is due to the late developments in the "Big Four" collapse. One of the directors of the bank said this morning that the deposits amounted to but $52,000. Cashier Thompson is out of town. presumably at Newport News, Va., where his wife has been staying for several months. Mr. Thompson is also treasurer of Tioga County." The notice posted on the doors of the bank is signed by order of the board of directors, comprising D. M. Pitcher, president ; W. L. Ayer, C. A. Thompson, C. R. Heaton, James Davidge, E. B. Waldo and W. E. Darwin.


Article from Waterbury Evening Democrat, May 24, 1890

Click image to open full size in new tab

Article Text

BUCKET SHOP BANKING. The Big Four Collapse Causes Trouble in Owego, N. Y. OWEGO, N. Y., May 24.-The Owego National Bank has closed its doors and posted the following notice : "Pending an examination of its affairs this bank is temporarily closed. Depositors need have no fears." C. A. Thompson, the cashier of the bank, is charged by President Platt of the Public Grain and Stock Exchange, with acting in concert with James F. Dee to defraud the exchange of $30,000. Dee was the correspondent of the exchange at Owego. The patrons of the bank seem to have no fear. The belief is general that the suspension and alleged conspiracy are in some way connected. A later despatch from Owego attributes the suspension to the late developments in the Big Four collapse.


Article from The Madison Daily Leader, May 24, 1890

Click image to open full size in new tab

Article Text

ANOTHER COLLAPSE. The Owego National Bank Is Closed, on Account of Reckless Associations. OWEGO, N. Y., May 23. The Owego National bank is closed. On the door is posted the following note: "Pending an examination this bank is temporarily closed. Depositors need have no fear." The cashier is O.A. Thompson, who is charged by c. P. Platt, president of the Public Grain and Stock Exchange while acting in concert with James F. Dee, of defrauding the exchange of $30,000. Dee was the correspondent of the exchange at Owego. The suspension, it is reported, is due to late developments in the "big four" collapse. A director of the bank says the deposits amounted to but $52,000. Cashier Thompson is out of own. Thompson is also the treasurer of Tioga county.


Article from The Helena Independent, May 24, 1890

Click image to open full size in new tab

Article Text

Cheering Assurance. Owngo, N. Y., May 23.-The Owego National bank is closed. On the doors is posted the following note: "Pending examination this bank is temporarily closed. The depositors need have no fear." The cashier is C. A. Thompson, who is charged by C. H. Platt, president of the Public Grain & Stock exchange, while acting in concert with James F. Dee, with an attempt to defraud the exchange of $30,000. Dee was correspondent of the exchange at Owego. The suspension is reported due to late developments in the "Big Four" collapse. The directors of the bank say that the deposits amounted to but $52,000. Cashier Thompson is out of town. Thompson was treasurer of Tioga county.


Article from Richmond Dispatch, May 24, 1890

Click image to open full size in new tab

Article Text

ANOTHER BANK-SUSPENDS. The Cashier Non Est, But Presumably at Newport News, Va. [By telegraph to the Dispatch.) BINGHAMTON, N. Y., May 23.-The Oswe. go National Bank, of Owego, N. Y., sus. pended business to-day. It is not exactly clear what caused it. The deposits are said to be only $52,000. The cashier of this bank is C. A. Thompson, who is charged by C. H. Platt, president of the Publie Grain and Stock Exchange of New York, with acting in concert with James F. Dee to defraud the Exchange out of $30,000. Dee was the correspondent of the Exchange at Oswego. There is an impression that the suspension and alleged conspiracy are in some way connected. A later dispatch from Owego says: Cashier Thompson is out of town, presumably at Newport News, Va., where his wife has been staying for several months.


Article from The Sun, May 24, 1890

Click image to open full size in new tab

Article Text

The Owego National Bank Suspends. BINGHAMTON. May 23.-The Owego National Bank of Owego is not doing business to-day. On the closed doorsis posted the following note: Pending an examination of its affairs. this bank is temporarily closed. Depositors need have no fear. The cashier of this bank is C. A. Thompson. who is charged by C. H. Platt, President of the Public Grain and Stock Exchange. with acting in concert with James F. Dee to defraud the Exchange of $30,000. Dee was the correspondent of the Exchange at Owego. People who have been doing business with the bank do not appear to be at all alarmed. There is an impression that the suspension and the a:leged conspiracy are in some way connected. The suspension is due to the late developments in the Big Four" collapse. One of the directors of the bank said this morning that the deposits amounted to only $52,000. Cashier Thompson is out of town. presumably at Newport News, Va., where his wife has been staying for several months. Mr. Thompson is also Treasurer of Tioga county. Among the depositors there seems to be little doubt that the directors are fully responsible. Morgan & Brothers' storage warehouses. 232. 284. and 084 West 47th BL near Broad VAV Senarate FOOMS for


Article from The Salt Lake Herald, May 24, 1890

Click image to open full size in new tab

Article Text

Owego, N. Y., National Bank Suspends. OWEGO, N. Y,, May 23.-The Owego National bank has closed. On its doors is posted the following note: "Pending an examination, this bank is temporarily closed. Depositors need have no fear." The cashier is C. A. Thompson, who is charged by C. H. Platt, president of the Public Grain and Stock exchange, with acting in concert with James F. Dee, to defraud the exchange of $30.000. Dee was correspondent of the exchange at Owego. The suspension is reported to be due to late developments in the "Big Four" collapse. The directors of the bank say the deposits amount to but $52,000. Cashier Thompson is out of town. Thompson is also treasurer of Tioga county.


Article from Rock Island Daily Argus, May 31, 1890

Click image to open full size in new tab

Article Text

ABBREVIATED TELEGRAMS. The Choctaw Indians have organized a lottery company with a capital of $900,000. The brewery of Kleiber & Brother, at Reading. Ohio, W&S burned Friday. Loss, $75,000. Fire is raging in the Bast colliery, in Ashland, Pa. Workmen are fighting the flames. Pery Hazzard Smith, an oldsettler of Chicago, died in that city Thursday night, aged 74. Two little children of Michael Hart, of New Haven, Conn., wore killed by a runaway horse Friday. Snowden Smith, of Fayetteville, Ark., was bitten by a dog more than a year ago and Thursday he died of hydrophobia in terrible agony. A man named Spellman, who is involved In the vote selling and buying at Lincoln, Ifls., testified Friday that the purchase of votes in Lincoln was a regular practice. The works of the Eagle Varnish, Hall Steam Pump, and Fraelich Grease companies were partly destroyed by fire at Allegheny, Pa, Friday. Loss about $20,000. Mrs. Parsons, widow of the Chicago Anarchist, decorated the graves of her husband and his fellow victims of the law, at Waldheim cemetery, near Chicago, Friday. Thomas Williams, a man charged with triple murder at Sedalia, Mo., clinched his own guilt Friday by appearing in court with the blood-stained hat of one of his victims on his head. Unknown fiends took Theodore Werchtemuller, a Texas ranchman, from his home near San Diego last Sunday, saturated his clothing with turpentine and roasted him to death. John Spelman, son of Ed Spelman, of Peoria, Ills., the latter well known in connection with the Cronin trial, has been admitted to bail in $2,400 on the charge of burglary, his father going his bail. The new ocean steamship Normannia, which reached New York Friday, made the trip from Queenstown in six days, five hours and one minute, the fastest maiden voyage on record. She smashed forty feet of her plates in a collision with an iceberg. The Owego (N. Y.) National bank, which suspended payment owing to the defalcation of the cashier, C. A. Thompson, is expected to resume business shortly. Thompson's shortage, which amounts to $100,000, will be met by his friends and bondsmen.


Article from Waterbury Evening Democrat, June 3, 1890

Click image to open full size in new tab

Article Text

Resumed With a New Cashier. OWEGO, N. Y., June 3.-The Owego National Bank has resumed business. There was no run on the institution or nothing approaching a run. In fact, only a few thousand dollars were withdrawn, while a number of substantial business men made deposits. A. H. Upton has been appointed cashier of the ban k in place of Thompson, who held the position and, whose dealings resulted in the temporary suspension of the bank. James Bassett, the former teller of the bank, has been appointed assistant cashier. He was implicated with Thompson in the grain transactions. Bassett is succeeded by Frank Inman Stanbrough.


Article from The Sun, June 3, 1890

Click image to open full size in new tab

Article Text

The Owego National Bank Resumes Business. BINGHA MTON, June 2-The Owego National Bank was opened for business this morning according to an nonucement There was but little money withdrawn and son e of the best business men of the place made de, 0818 in Cashier Thempson. whose transactions with the and Stock Exempt resulted 111 the or the bank. 18 succeeded by - 11 ' pron . ash ier pron 15 assisted by James Basselt the former teller. who was implicated with Thompson. Frank Tru. man LI Stat brough succe: as Bassett as teller. President Pitcher save that the bank will continue 10 do business as before the suspension.


Article from The Enterprise, June 4, 1890

Click image to open full size in new tab

Article Text

DOMESTIC. THE Waring Brothers Company, manufacturers of fertilizers and farming implements at Elkton, Md., have assigned. Liabilities, $200,000; assets nominal, A NEW YORK jury on the 26th found a verdict of $10,000 against Francis K. Harte, son of Bret Harte, the writer, in a suit by James J. Smith for damages for the alienation of the affections of his wife, Eleve B. Smith. JOHN P. KUNZE, who was tried with Coughlin, Burke, O'Sullivan and Begges for alleged complicity in the Cronin murder, was married at Chicago on the 27th to Miss Julia G. Hoyer, the young lady who visited him so often at the jail during his imprisonment and cheered him during his trial. AT a meeting in Philadelphia on the 27th of the depositors of the defunct Bank of America, the committee of investigation reported that probably fifty per cent. would be realized on deposits. The committee also declared that the directors were liable to criminal prosecution for not paying the bank's semiannual dividends out of earnings, as well as for making loans on bad securities. The bank's officials drew out their personal balances just before announcing the suspension. THERE is believed to be a shortage in the accounts of C. A. Thompson, cashier of the recently collapsed Owego (N. Y.) National Bank, of about $75,000. It is not thought the bank will be reorganized. THE sixty-fifth annual meeting of the American Unitarian Association met at Boston, Mass., on the 27th. The treasurer's report showed receipts $186,944; expenditures $186,183. The general fund amounts to $128,450. The report of the church building loan fund showed contributions during the year of $13,587 with expenses of only $27. The fund now amounts to $61,647. THE President has sent to Congress the draft of a bill to carry into effect the recommendations of the international American conference by the inoorporation of the International American Bank. The capital stock is to be $10,000,000, subject to increase to $25,000,000.


Article from Iowa County Democrat, June 6, 1890

Click image to open full size in new tab

Article Text

C. A. THOMPSON, cashier of the Owego (N. Y.) National Bank, is said tc be short in his accounts to an amount that is estimated all the way from $20,000 to $70,000. The deposits in the bank, which has suspended, amount to $156,000. Thompson threatens to expose two prominent citizens of Owego, who, he says are implicated with him in the shortage.


Article from Perrysburg Journal, June 7, 1890

Click image to open full size in new tab

Article Text

The Reading Company's tunnel colliery at Ashland, Pa., resumed work on the 28th, giving employment to 300 men and boys. All cottleries of the Reading Company are now working nine hours a day. Henry Jackson and Thomas Thomas, who were undergoing a sentence of thirty years in the New Jersey penitentiary for arson, escaped from that institution on the 28th. While most of the keepers were in attendance at the night school for convicts these two sandbagged Doorkeeper Charles Parker and bound and gagged him, robbing him of $800 which he had on his person, and in clothes belonging to deputy keepers made good their escape. The Andersonville prison stockade has been purchased by the Georgia Encampment, G. A. R., acting for the national body. A shortage of about $75,000 has been found in the accounts of C. A. Thompson, cashier of the recently collapsed Owego (N. Y.) National Bank. It is not probable the bank will be reorganized. At Philadelphia on the 30th ult. Tom Thomas and Henry Jackson, the negro convicts who recently escaped from the New Jersey State prison after having sandbagged and robbed Keeper Charles Parker, were encountered by Patrolman Barber. They resisted arrest, and during the fight that ensued Jackson was killed and Barber dangerously wounded. Thomas was secured. A construction train on the Pennsylvania road was run into by an engine near Belvidere, N. J., on the 31st ult. Conductor McAuliffe and Michael Flynn, a workman, were killed, and an unknown man seriously hurt. The first anniversary of the great flood at Johnstown, Pa., was observed in that city on the 31st ult. There was a general draping of the business houses in black, and memorial services were held in all the churches and charitable institutions and at Grandview cemetery. Paul Gebhard, Jr., a pupil in one of the New Haven (Conn.) public schools, died a few days ago from the effects of a flogging administered by the principal as a punishment for truancy. Hon. John M. Thompson, a prominent citizen of New Hamburg, N. Y., died on the 1st. He was a member of Congress during the exciting time of the admission of Kansas and took an important part in the debate. Hon. John Dalzell and Hon. Thomas M. Bayne have been renominated for Congress by the Republicans in the Twenty-second and Twenty-third Pennsylvania districts respectively. Francis C. Lowehorp, inventor of the railroad turn table and a civil engineer of note, died at Trenton, N. J., on the 1st, aged eighty-one years. Business failures occurring throughout the country during the seven days ended May 31 number 218, as compared with a total of 232 the previous week. For the corresponding week of last year the figures were 215. The sixth international Sunday-school convention of the United States and British North America will open at Pittsburgh June 24, and remain in session one week. At least 2,000 delegates are expected to be in attendance. The saloon of John Silby at Amsterdam, N. R., burned on the 1st. Michael Donilon, a bartender, perished in the flames and Silby was badly burned about the face.


Article from The Progressive Farmer, June 10, 1890

Click image to open full size in new tab

Article Text

THE MOST IMPORTANT EVENTS THROUGHOUT THE WORLD FOR A WEEK. Sunstrokes have occurred in Chicago. The public debt was decreased $6,000 000 in May. Thirteen lives were lost in the California railroad accident. The father of Senator Pierce, of Dakota, died at Tassenog, Ind, aged 88 years. CINCINNATI, O., June 2.-Eleven hundred carpenters went out on strike this morni g. In a collision on the Union Pacific Railroad at North Platte, Neb, the engi neer was killed. Sr. JOSEPH, Mo., June 2.-Edson Gregg, one of tae largest brokers on the Missouri river, has failed. Edson Gregg, of St. Joseph, M., one of the largest brokers on the Missouri r.ver, has failed. Gunner J. McGowan was killed by the premature explosion of a breech loader on the United States ship Alliance. The village of Loveland, in the Mis souri Valley, was destroyed by a cloud burst Tuesday. One or tw persons were drow ed. Sr. PAUL, Minn., June 2-Reports received up to midnight last night from both the Dakotas show that a great storm is raging. PEORIA, III., June 4.-After a struggle of six weeks, the striking coal miners practically acknowled ged their defeat yesterday. BOSTON, June 2.-The shoe firm of Wetherall & Pierce, Providence, R. I., have failed. Liabilities $125,000; assets about half. It is rumored in St. Louis that Secretary of the Interior, John W. Noble, will resign to accept the position of attorney for a western railroad. NEW YORK, June 2.-A telegram from Ottawa says that four people were found dead this morning, their death resulting from eating wild parsnips. The Philadelphia & Reading Railroad has ordered all its conductors to either leave the Botherhood of Conductors or leave the servi e of the company. The monthly public debt statement issued from the Treasury Department yesterday shows a decrease in the debt amounting to $6,661,871 during May. Bud Lindsay, a U. S. deputy marshal, shot and killed a distiller named Kiltz near Knoxv lle, Tenn., last week be ause refused to sell him a gallon of whiskey. SAN FRANCISCO, June 2.-The legal documents consumating the sale of the ten breweries in this city to an English syndicate for $7,500,000 reached here yesterday. All the tin roofers, cornice workers, sky-light workers in Brook yn, N. Y., went out on strike yesterday because their demand for eight hours was not granted by the bosses. The Dupont Paper Mills in Louisville were totally destroyed by fire Saturday evening. Loss $235,000, fully insured. A policeman was overcome by the smoke and shortly afterwards died. ST LOUIS, Mo., June 2.-The Franklin tenement house, occupied by a number of poor families, was burned this morning. Two people were killed and four others more or less seriously injured. BURLINGTON, N. Y, June 2.--The Owego National Bank was opened for business this morning. There was little money withdrawn and some of the best business men in the place made deposits. Mr. Blaine is likely to lose his youngest and prettiest daughter, Miss Hattie, in a few months, one of the young diplomats attached to a foreign legation having captured her heart, it is reported. CITY OF MEXICO, June 2.-The city council has passed an ordinance compelling laborers on city works to wear pantaloons instead of the loose cotton garment generally worn by the laboring classes. A negro charged with attempt to commit rape near Hattiesburg, Miss., one day last week, was arrested and confessed. While on the way to the jail about forty men took him from the officers and hanged him. W ASHINGTON, June 2.-The Senate today confirmed the following nominations of postmasters Madison Davis, Athens, Ga.; M. K. Mister, Grenada, Miss.; J. T. Davenport, Gordonsville, and W. C. Respass, Wytheville, Va. A quarrel over the p ssession of a keg


Article from Iron County Register, January 8, 1891

Click image to open full size in new tab

Article Text

AN EVENTFUL YEAR. Many Things That Happened During 1890. RECORD OF NOTABLE OCCURRENCES. Disastrous Business Failures-Fatal Casualties and Startling Crimes-Leading Political and Social Events-Necrology-Disastrous Fires, Etc. BUSINESS FAILURES. [INVOLVING $300,000 AND OVER, ON BANKS GENERALLY.] Jan. 6-R. Deimel & Co., Chicago furniture dealers: $300,000. Jan. 14-Smith Middlings Purifier Co., Jackson, Mich.: $484,000: Jan. 16-Bank of H. R. Pierson & Son, Albany. N. Y. Jan. 21-State Bank of Irwin, Kan. Jan. 27-John B. Lollande, New Orleans, cotton merchant: $600,000. Feb. 4-Joseph P. Murphy, Phila delphia, manufacturer of cotton and woolen goods: $500.000. Feb. 11-Franklin Woodruff & Co., dealers in fish and salt. New York City; $400,000. Mar. 13-Harrison & Loder, wholesale dry goods, New York City: $350,000. Mar. 19-John F. Plummer & Co., wholesale dry goods, New York City: $1,000,000. Apr. 7-George K. Sistare's Sons, bankers. New York City; $500,000. Apr. 8-Manhattan Bank, Manhattan, Kan. $561,000. Apr. 17-Louis Franke & Co., silk merchants, New York City: $900,000. , Apr. 30-Bank of America and twelve branches, Philadelphia: $700,000. May 1-Fechheimer, Rau & Co., shirt manufacturers, New York City: $400,000. May 13-Plattsburg Bank. Plattsburg, Mo. May 14-J. F. Reynolds, broker, New York City: $300,000. May 19-Public Grain and Stock Exchange. New York City; largest bucket-shop in United States. May 22-Bank of Middle Tennessee. Lebanon, Tenn. May 23-Owego (N. Y.) National Bank. Jun. 20-Park National Bank. Chicago. Jun. 24-Bank of Hartford. Hartford, Wis. Jul. 29-J. E. Tygert & Co., fertilizer manufacturers, Philadelphia, Pa.: $317,000. Aug. 6-State National Bank, Wellington, Kan. Aug. 27-Potter, Lovell & Co., bankers, Boston: $5,000,000. Aug. 29-City National Bank, Hastings, Neb. Sep. 3-Hoxie & Mellor, Wisconsin lumber dealers. $500,000. Sep. 4-Sawyer, Wallace & Co., New York, Louisville and London, commission merchants and brokers: $2,000,000. Sep. 6-National bank at Kingman, Kan. Sep. 17-Gardner. Chase & Co., bankers and brokers. Boston; $2,000,000. Sep. 27-Bank of Madison, Jackson, Tenn.: $200,000. Oct. 4-Fleming Bros., patent medicine firm, Pittsburgh, Pa.: $500,000. Oct. 10-Indianapolis (Ind.) Car Manufacturing Company: $600,000. Oct. -Wallace, Waggoner & Co., wholesale grocers, Houston, Tex.; $300,0000 J. H. Hagerty & Co.'s bank. Aberdeen, S. D.; $230,000. Oct. 16-R. G. Peters' Salt and Lumber Co., Manistee, Mich. $3,000,000. Oct. 31-Leopold Bros., wholesale clothiers, Chicago, $300,000. Nov. 11-Panic in Wall st., N. Y., caused the failure of brokers Decker. Howell & Co. ($10,000.000): C.M. Whitney & Co. ($300.000), and Daniel Richmond ($200,000) John T. Walker & Co., silk importers, of New York City, $900,000. Nov. 14-Kansas City Packing Co., Armourdale, Kan.: $500,000. Nov. 15-Kansas City Packing & Refrigerating Co., Boston: $1,000,000. Mills. Robeson & Smith, brokers. New York City: $350,000. Nov. 18-P. W. Gallaudet & Co., New York City, brokers: $1,000,000. Nov. 20 -Barker Brothers & Co., bankers, Philadelphia; $3,000,000. Nov. 21-Banking firm of Ragsdale & Co., Oklahoma City. O. T. Nov. 22-First National Bank of Alma, Kan. Bank of Waverly, Waverly, Kan. Nov. 24-Edward Brandon, New York broker: $1,500,000. Thomas Fawcett & Co., extensive coal dealers. Pittsburgh. Pa.: $400,000. Nov. 25-Thomas H. Allen & Co., cotton commission firm. Memphis, Tenn.: $750,000. Nov. 27-H. H. Bell, banker, Duluth, Minn.; $750,000. Nov. 28-B. K. Jamison & Co., bankers and bro kers, Philadelphia: $1,000,000. Dec. 3-Rittenhouse Manufacturing Co., Passaie, N.J.: $800,000. Dec. 5-V. & A. Meyer, cotton dealers, New Orleans: $2,500,000. Delameter & Co., Meadville. Pa., bankers; $400,000 Chicago Safe & Lock Co.: $700,000. Dec. 8-Roberts, Cushman & Co., dealers in bolters' materials, of New York City, $500,000. Dec. 9-American National Bank, Arkansas City. Kan Nightingale Bros. & Knight, silk manufacturers, Paterson, N. J.; $400,000 Whitten, Burdett & Young, Boston, wholesale clothiers: $700,000. Kendriol Bettug