16851. Tioga National Bank (Owego, NY)

View Charter #862 on SPMC

Bank Information

Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
862
Charter Number
862
Start Date
October 14, 1898
Location
Owego, New York (42.103, -76.262)

Metadata

Model
gpt-5-mini
Short Digest
194b8b22

Response Measures

None

Description

Comptroller ordered suspension Oct 14, 1898 after discovery of a large defalcation by assistant cashier Eli W. Stone; bank was permitted to resume business mid-November 1898. Articles report closure by Comptroller, examiner placed in charge, and reopening Nov 17, 1898. No run or depositor panic is described in the sources.

Events (3)
1. March 6, 1865 Chartered
Source
historical_nic
2. October 14, 1898 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Discovery of a large defalcation (peculation) by assistant cashier Eli W. Stone revealed by a special examination; Stone confessed and died shortly after; comptroller ordered closure and examiner placed in charge.
Newspaper Excerpt
Comptroller Dawes yesterday ordered the suspension of the Tioga National Bank, of Owego, N. Y.... Close the doors of the bank; receive no more deposits. I have placed C. E. Van Brocklin, national bank examiner, in charge of the bank.
Source
newspapers
3. November 17, 1898 Reopening
Newspaper Excerpt
The Tioga National Bank, of Owego, N. Y., which suspended payment October 14, was today given permission by the Comptroller of the Currency to resume business.
Source
newspapers

Newspaper Articles (12)
1. October 14, 1898 The Times Washington, DC
Article from The Times, October 14, 1898

Click image to open full size in new tab

Article Text

SENATOR T. C. PLATT'S BANK. Bawes Orders the Comptroller Owego Institution Closed. Comptroller of the Currency Charles G. Dawes yesterday ordered the suspension of the Tioga National Bank, of Owego, N. Y., of which Senator T. C. Platt is president, on account of a heavy defalcation by the assistant cashier, Eli W. Stone, who died Wednesday night. Orders closing the bank's doors were wired by Comptroller Dawes to Cashier F. E. Platt, who is a brother of Senator Thomas C. Platt. The text of the comptroller's telegram to Cashier Platt was, "Close the doors of the bank; receive no more deposits. I have placed C. E. Van Brocklin. national bank examiner, in charge of the bank. This action was taken by the comptroller as a result of the recent examination by Examiner Van Brock in, which, as stated. disclosed a large defalcation on the part of Assistant Cashier Stone. Last Tuesday night Examiner Van Brocklin called on Assistant Cashier

2. October 14, 1898 Evening Journal Wilmington, DE
Article from Evening Journal, October 14, 1898

Click image to open full size in new tab

Article Text

STONE ALONE GUILTY. Cashier Platt and Other Officers Not Implicated. WASHINGTON, Oct. 14.-Comptro.ler of the Currency Dawes late yesterday afternoon telegraphed the cashier of the Tioga National bank of Owego, N. Y., directing him to close the doors of the bank, to receive no more deposits and transact no more business and informing him that he had placed National Bank Examiner C. E. Van Brecklin in charge of the bank. This action was taken as the result of a report made to the comptroller by Mr. Van Brecklin giving the result of a special examination he had made into the affairs of the bank, which had resulted in the discovery of a large defalcation on the part of the assistant cashier, Eli W. Stone. Mr. Van Brecklin said that he and the vice president of the bank had called on Mr. Stone Tuesday night. Mr. Stone was ill and in bed at the time. Mr. Van Brecklin told him that his examination showed that there had been a defalcation, and Mr. Stone confessed that he had been taking money belonging to the bank for many years. Early the next morning Mr. Stone died. Mr. Van Brecklin said that from as careful examination of the books of the bank as he had been able to make he had been unable to find any evidence whatever showing that either the cashier, F. E. Platt, or any other officials of the bank were implicated in any way in the irregularities. He said that the defalcation had occurred through the manipulation of the individual deposit ledger by the assistant cashier while acting as receiving teller. Mr. Van Brecklin had not been able in the length of time at his disposal for the first examination to determine the exact amount of the defalcation. In order, however, to fully protect all interests Comptroller Dawes telegraphed the cashier yesterday afternoon to close the bank and sent Mr. Van Breeklin back to Owego at once to take charge of the bank. Mr. Van Brecklin will make a detailed report of the condition of the bank as soon as possible, and the comptroller will then decide whether it shall be allowed to resume business or whether its strength has been so impaired by the defalcation as to make its permanent suspension necessary.

3. November 17, 1898 The Evening Times Washington, DC
Article from The Evening Times, November 17, 1898

Click image to open full size in new tab

Article Text

Allowed to Resume Business. The Tioga National Bank, of Owego, N. Y., which suspended payment October 14, was today given permission by the Comptroller of the Currency to resume business.

4. November 17, 1898 Connecticut Western News North Canaan, Salisbury, Canaan, CT
Article from Connecticut Western News, November 17, 1898

Click image to open full size in new tab

Article Text

Tioga Bank to Resume. The Tioga National bank of Owego, N. Y, of which Senator Thomas C. Platt is president, will reopen for business on Thursday, with a capital of $50,000. The suspension of the bank was ordered by reason of the peculations of the assistant cashier.

5. November 17, 1898 The Monmouth Inquirer Freehold, NJ
Article from The Monmouth Inquirer, November 17, 1898

Click image to open full size in new tab

Article Text

Tioga Bank to Resume. The Tioga National bank of Owego, N. Y., of which Senator Thomas C. Platt is president, will reopen for business on Thursday, with a capital of $50,000. The suspension of the bank was ordered by reason of the peculations of the assistant cashier.

6. November 18, 1898 New-York Tribune New York, NY
Article from New-York Tribune, November 18, 1898

Click image to open full size in new tab

Article Text

PLATTS BANK RESI WES BUSINESS Owego, N Y. Nov. 17.-The Tioga National Bank, of which Senator Thomas C. Platt is president, resumed business 10-day C. D Yothers, formerly of the First National Bank takes the place of E W Stone assistant cashier. whose defalcation led to the suspension of business by the Tioga National Bank some time ago. Stone died shortly after the suspension of the bank, under circumstances which led to the belief that he had committed suicide.

7. November 18, 1898 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, November 18, 1898

Click image to open full size in new tab

Article Text

General Notes. WASHINGTON, Nov. 17.-To-day's statement of the condition of the treasury shows: Available cash balance, $296,616,654; gold reserve, $241,088,630. The right of the government to prosecute criminally persons grazing sheep in all forest reservations except in Oregon and Washington, was sustained in a decision rendered to-day by the attorney general. The Court of Claims to-day rendered a judgment of $1,961,400 in favor of the New York Indians. who entered suit against the United States to recover the value of certain lands donated to them in Kansas and subsequently disposed of by the United States. The Tioga National Bank, of Owego, N. Y., which suspended payment Oct. 14, 1898, having complied with the conditions imposed by the controller of the currency precedent to resumption, is now in a solvent condition and has been permitted to reopen its doors for business. The President has been notified of the intended visit to this country of President Iglesias, of Costa Rica, who is expected to reach Washington by the first of next week. Secretary Hay is making arrangements for his reception.

8. November 18, 1898 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, November 18, 1898

Click image to open full size in new tab

Article Text

WASHINGTON Nov. 17.-The Tioga National Bank of Owego, New York, which suspended payment on Aug. 16, 1898, has been permitted to reopen its doors for business.

9. November 19, 1898 The Irish Standard Minneapolis, Saint Paul, MN
Article from The Irish Standard, November 19, 1898

Click image to open full size in new tab

Article Text

MINOR NEWS ITEMS. For the Week Ending Nov. 10. Three Indian outlaws were killed in fight with officers at Chelsea, I.T. The entire business section of Cov. ington, La., was swept away by a fire. Lord Minto, the new governor general of Canada, took the oath of office in Quebec. Chase, Isherwood & Co., the oldest tobacco firm-in'Ohio, has gone out of business. By the breaking of ice over a river at Velictusting, Russia, 20 persons were drowned. The inauguration of Brazil's new president, Campos Salles, took place in Petropolis. James Richardson, the largest cotton planter in the world, died suddenly at Benoit, Miss. The 2,600 employes in the seven shoe factories in Marlboro, Mass., struck for higher wages. William Green, the oldest man in Indiana, died at his home near Jonesboro, aged 111 years. E. O. Kragness went 50 miles on a bicycle in San Francisco in 2:15:29, making a new record. A seat on the New York stock exchange sold for $28,000, the highest price in 15 years. The Tioga national bank at Owego, N. Y., which suspended recently, has resumed business. Col. James Giliss, assistant quartermaster general, U.S.A., died suddenly in New York, aged 58 years. The Michigan supreme court says boycotts are illegal when other than peaceable methods are employed. William Slagle, a messenger for the Exchange bank at Churubusco, Ind., was robbed of $1,200 by highwaymen. Lieut. Herman G. Dresel, U. S. N., committed suicide in a hotel in Baltimore. His home was in Columbus, O. : Mrs. John B. Cuneo fatally shot her husband and Mrs. Fannie Howell At Argenta, Ark. Jealousy was the couse. John C. Roth, county treasurer and millionaire pork packer, was killed in

10. November 23, 1898 The Enterprise Wellington, OH
Article from The Enterprise, November 23, 1898

Click image to open full size in new tab

Article Text

EAST. Within a few days a conference of anti-imperialists of Boston will take and it is deliberations replace of this expected gathering that will the sult in the formation of a regular organization in Boston for arousing of Spain's public sentiment conquered against possessions the holding by the United States. William R. Frazier, grand marshal of the Pennsylvania grand lodge of Masons, disappeared from his home in Philadelphia on the 10th and all trace of his movements since that time has been lost. The death of Sibyl Johnstone, the actress, which occurred at her home in New York City on November 1, has just been made known. Her body was cremated. The thirty-second annual meeting of the national grange, Patrons of Husbandry, assembled at Concord, N. H., on the 16th. Master Aaron Jones, of Indiana, presided. Seventeen states were represented. On account of the improvement of street railway cars the Brooklyn Heigh's (N. Y.) Railroad Co. has condemned 223 cars, which are now being burned near Coney Island at the rate of nine a day. The cars are in good condition and worth about $500 apiece. About $70 worth of metal is obtained from each car destroyed. The Tioga national bank, of Owego, N. Y., which suspended payment October 14, having complied with the conditions imposed by the comptroller of the currency precedent to resumption, is now in a solvent condition and open for business. President Timothy Dwight presented his resignation to the corporation of Yale university at a meeting held at New Haven, Conn., on the 17th. The resignation is to take effect at the end of the university year. It was decided at a meeting of the stockholders of the national cicyle board of trade in New York City on the 17th to dissolve that corporation. A petition in bankruptcy has been filed by the firm of Seidenberg, Steifel Co., cigar dealers of New York City. The liabilities are $308,866. Prof. Henry Vaningen, the artist, who had been art instructor of Vassar college since its opening in 1865, died suddenly at his home in Poughkeepsie, N. Y., on the 17th. He was 65 years old. The election expenses of Timothy L. Woodruff. lieutenant governor-elect of New York, as certified to the secretary of state, were $13,500, $10,000 of which he paid to the republican state committee, and $3,500 to Kings county republican committee. The Cuban army will receive one year's pay on December 10. Notes for the balance due will be issued and the troops will be disbanded. In the Greenpoint district of Brooklyn, N.Y., on the 18th fire caused a loss of $103,000. The largest loss is sustained by Joseph Schriver & Co., furniture dealers, $60,000. The balance of the loss was caused by the destruction of a number of small business places and dwellings. For the week ended November 18 business failures in the United States numbered 223, as compared with 267 for the corresponding period of 1897, and 26 in Canada, as against 32 for the same time last year. The death of Lindlay Smith, aged 88 years, occurred in Philadelphia on the 18th. He was active during the war in promoting the financial interests of the was elected ofgovernment president and the when first time, Grant he fered Mr. Smith the secretaryship of the treasury, but he declined the office. On the Camden & Amboy railroad at Florence, N. J., on the 18th two personawere injured, an engine and passenger coach destroyed and a railroad station burned by a rear-end collision between two local passenger trains. ⑉

11. November 23, 1898 Willmar Tribune Willmar, MN
Article from Willmar Tribune, November 23, 1898

Click image to open full size in new tab

Article Text

MINOR NEWS ITEMS. For the Week Ending Nov. 17. Three Indian outlaws were killed in a fight with officers at Chelsea, I. T. The entire business section of Covington. La., was swept away by a fire. Mayor Zeigenheim has vetoed the curfew bill passed by the St. Louis city council. Lord Minto, the new governor general of Canada, took the oath of office in Quebec. Chase, Isherwood & Co., the oldest tobacco firm in Ohio, has gone out of business. The world's gold product for 1898 is placed at $275,000,000, against $237,000.000 in 1897. The inauguration of Brazil's new president, Campos Salles, took place in Petropolis. The union coal miners returned to work at Virden, Ill., after a lockout since April 1. James Richardson, the largest cotton planter in the world, died suddenly at Benoit, Miss. E. O. Kragness went 50 miles on a bicycle in San Francisco in 2:15:29, making a new record. A seat on the New York stock exchange sold for $28,000, the highest price in 15 years. The Tioga national bank at Owego, N. Y., which suspended recently, has resumed business. Ethel Marlowe, a young and handsome actress, dropped dead on the stage in New York. Dr. Thomas A. Kennedy, whose fame as a hypnotist was world wide, died in Chicago, aged 45 years. The thirty-second annual meeting of the National grange, Patrons of Husbandry, began in Concord, N. H. William Slagle, a messenger for the Exchange bank at Churubusco, Ind., was robbed of $1.200 by highwaymen. Dr. Samuel C. Bartlett, former president of Dartmouth college, died suddenly at Hanover, N. H.. aged 71 years. John C. Roth. county treasurer and millionaire pork packer, was killed in

12. November 26, 1898 The L'anse Sentinel L'anse, MI
Article from The L'anse Sentinel, November 26, 1898

Click image to open full size in new tab

Article Text

the Woman's Christian Temperance union Mrs. L. M. N. Stevens, of Maine, was elected president. The strike of coal miners in the Virden (III.) district, which has been the cause of rioting and bloodshed, has been brought to an end. Chase, Isherwood & Co., the oldest tobacco firm in Ohio, has gone out of business. The Tioga national bank at Owego, N. Y., which suspended recently, has resumed business. The union coal miners returned to work at Virden, Ill., after a lockout since April 1. The Missouri supreme court decided the law by which cities are compelled to sell franchises to corporations to be unconstitutional. Prairie fires in Gregory. Tripp and Todd counties, S.D., caused the ruin of thousands of acres of range and the loss of many cattle. Robert McFadden, William Henderson, John Kell and George Morgan were caught in the bottom of a shaft in Butte, Mont., by an explosion and fatally injured. The First national bank of Emporia, Kan., was closed by order of the comptroller of the treasury. and an hour !ater Charles S. Cross, the bank's president. committed suicide. Ethel Marlowe, a young and hand- the some astress, dropped dead on stage in New York. The report of Gen. G. N. Lieber, judge advocate general. for the year ended August 31, shows that there have been a total of 1,180 courts-martial during the year. Bishop Fowler announces that the Methodists are preparing to establish the churches in Cuba, Porto Rico and Philippines. The government has decided to investhe race troubles in South Carolina tigate in respect to the interference with the duties of federal officers. Mayor Ziegenheim has s vetoed the curfew bill passed by the St. Louis city council. The thirty-second annual meeting Hus- of the National grange, Patrons of bandry, began in Concord, N. H. Attheclosing session in St. Paul of the Woman's Christian Temperance union Mrs. M. B. Carse. of Illinois, one of the most prominent members. withdrew she from the organization. saying would not return until the temple fund was raised. The world's gold product for 1898 is placed at $275,000,000, against $237,000,000 in 1897. The total imports of gold in the ten months ended October 31, 1898, were $143,658,095 exceeding the exports by $129.396,246. The total money in circulation in the United States at the beginning of the present month was $1,866,575,782. against $1,706,732,904 at the corresponding date last year. Two battles took place between union white miners and negroes in Springside, a suburb of Pana, III., but no one was: riously injured. Secretary Long in his annual report three recommends the construction of first-class battleships and five first-class aa armored cruisers and recommends addition of 5,000 men to the navy. At citizens' mass meeting in Omaha a decided that the trans-Missisnext year. sippi it was exposition should be continued Col. F. C. Ainsworth, chief of the and pension office. war depart- that record in his annual report says disment, 13,296 cases were received and posed of during the past fiscal year. the a net increase of 43,489 cases over previous At Newport, year. R. I., the torpedo hour. boat made over 30 knots an in the proving Dupont her to be the fastest boat United States navy. Timothy Dwight, president of for Yale 12 college at New Haven. Conn., years, has resigned. Seidenberg. Steifel & Co., cigar dealin New York, failed for $500,000. ers said that Secretary Alger. in his and President will annual It is report, congress. McKinley, his annual message to be in recommend that the standing army basis of placed on a permanent peace 100,000 men. Schmidt. wholesale liquor deal W. Pittsburgh. Pa., filed his petition liabiler in in voluntary bankruptcy with ities of $818,000.