1686. Townsend Savings Bank (New Haven, CT)

Bank Information

Episode Type: Run Only
Bank Type: savings bank
Start Date: January 1, 1866*
Location: New Haven, Connecticut (41.308, -72.928)

Metadata

Model: gpt-5-mini
Short Digest: f4839e41

Response Measures

None

Description

Articles describe a large embezzlement (Jerry Townsend) in ~1866 that provoked hundreds of depositors clamoring at the bank doors for their money. There is no mention of a suspension, receivership, or permanent closure — only investigation, pursuit and eventual capture of the thief. Date taken as 1866 (article accounts refer to the theft shortly after the Civil War).

Events (1)

1. January 1, 1866* Run

Cause: Bank Specific Adverse Info
Cause Details: Large embezzlement/theft by the paying teller (Jerry Townsend) estimated about $100,000 in cash and bonds discovered missing from the safe.
Measures: Bank officers conducted a secret examination; messengers summoned; detectives and investigators were engaged to pursue and recover stolen assets; reward offered.
Newspaper Excerpt: hundreds of excited depositors were clamoring at the bank doors for their money
Source: newspapers

Newspaper Articles (4)

1. August 16, 1865 The New York Herald New York, NY

Article from The New York Herald, August 16, 1865

Click image to open full size in new tab

Article Text

laborers. A communication was received from Governor Fenton expressing thanks for resolutions adopted by the Board approving his conduct in reference to certain city matters. The United States steamship Meteor, Captain E. Kem ble, will sail to-day at 3 P. M. for New Orleans from pier No. 9 North river The mails will close at the Post Office at half-past one P. M. The Meteor is a new vessel, and will be quite an acquisition to the Cromwell line. The steamship Kangaroo, Captain Bridgeman, of the Inman line, will sail to-day at noon for Queenstown and Liverpool, from pier No. 44 North river. In the United States District Court vesterday, before Jedge Betts, Assistant United States District Attorney, S. G. Courtney filed decrees of condemnation against two cases marked W. & Co., containing cavalry boots; also against one trunk marked W. T. M. Cormack; also against several cases containing cavalry boots. No claimants appeared. Mr. Clarkson appeared for the United States District Attorney and filed a decree of condemnation and sale against four cases containing tobacco and twenty-eight thousand cigars, imported in breach of the forty-eighth section of the Internal Revenue laws. Astounding disclosures in Wall street matters are now being made daily. Financial circles and the city generally were agitated yesterday by the alleged stupendous defalcation, to an amount variously estimated at from eight hundred thousand to two millions of dollars, of a member of the well known banking firm of Ketchum, Son & Co. The suspension of that house was announced early in the day, and was followed by the closing of the establishment of Mr. Charles Graham, brought about by his connection with the former firm. It is supposed that the missing money was procured by abstracting securities and by issuing fraudulent gold certificates. The alleged defaulter is E. B. Ketchum, a young man of twenty-five, and a son of the senior partner of the house. He was last seen by his acquaintances on last Monday afternoon, carrying with him an enormous amount of bank bills, and it is supposed that he has absconded. He is married man, lived in Madison avenue, and has also a summer residence in Connecticut. It is reported that he left behind him a letter confessing his guilt. A number of banking establishments are losers by the defalcation. The above mentioned development, added to that in connection with the Phenix Bank and others which have been recorded in our columns within the past few days, caused a panic in Wall street. Stocks fell rapidly, and railroad shares suffered a decline of five to ten per cent. The loan market was quiet under the excitement, and business was almost entirely suspended. Gold was weak, but did not vary much from the quotations of the previous day. The closing price at night was 1411/2. The examination in the Phenix Bank defalcation case, which was to have been inaugurated yesterday, at the Jefferson Market Police Court, was again postponed, and will be commenced on Monday morning at ten o'clock. Jenkins, the accused teller, appeared greatly depressed, and maintained a strict reserve, in obedience, no doubt, to the instructions given him by his counsel. Jeremiah Townsend, assistant cashier of the Townsend Savings Bank, in New Haven, Connecticut, who, it is alleged, absconded with about one hundred thousand dollars belonging to that institution, in May last, and was recently arrested in Liverpool, England, by two American detectives, is on board the steamship Etna, now due at this port, whence he will be taken to New Haven for trial. Nearly all the stolen money has been recovered. The supersedure of Mr. Simeon Draper as Collector of this port by Hon. Preston King continued the subject of much conversation and speculation yesterday. We give in another column a very interesting collection of facts and reports in reference to the matter. The Housatonic River Railroad, in Connecticut, was the scene of a dreadful disaster yesterday. A passenger train, by becoming disabled, s delayed, and was into with such fearful violence by a new locomotive out on a trial trip, which demolished several of the passenger cars, dashing entirely through the hindmost one, and, on reaching the second one, exploded, killing ten persons and manghing and scalding about seventeen others. The coroner's investigation in reference to the death of Mr. John F. Westlake, who lost his life by the explosion on board the steamboat Arrow, on the North river, on the 5th inst., was commenced yesterday, and, after considerable testimony had been taken, was adjourned till Thursday. The boat is about thirty years old. Mr. David E. Smith, one of the owners, was among the witnesses examined. Policeman Thomas Walker, of the Twenty-ninth precinct, was shot through the head about two o'clock yes. terday morning, in Seventeenth street, near Seventh avenue, by one of a party of young men whom he and another officer were endeavoring to take into custody for attempted violation of the person of a woman, and died from the effects of the wound about four hours after. A man named John Ward, who, it is supposed, fired the fatal shot, and several of his companions, were arrested and committed. A coroner's investigation took place in Hoboken yes. terday of the mysterious circumstances connected with the death of Miss Ellen Owens, recorded in yesterday's HERALD. Her death resulted from poison, which the jury were of opinion was administered by herself. A. W. Nathans, formerly a bounty broker, on whose evidence, it is said, Supervisor Cheshire, of Kings county, was convicted by the military court which tried him, was yesterday arraigned in a Brooklyn police court, and required to give bail to answer a charge of having, in September last, defrauded a volunteer named Theodore Lewis Yesterday was the anniversary of the Assumption of the Virgin Mary, and was strictly observed in the Catholic enurches in this city, as well as elsewhere. The minety-sixth anniversary of the birth of the first Napoleon occurred yesterday. It was appropriately recognized by French residents and sojourners in this city. All the French shipping in port was decked with extra bunting. At-noon a salute was Bred on board the French naval vessels, and the natives of la belle France generally observed the occasion as holiday, and enjoyed themselves in various ways. It is reported that Mrs. Adelia E. Sayers, of New Haven, Conn.. who has been in this city for some time past, undergoing medical treatment, has within the past few days been drugged and abducted by some scoundrel, who has confined her in a house in the vicinity of First avenue and Seventy-ninth street. The case appears to be very mysterious, and is receiving the attention of the police. Sixteen vessels of the New York Yacht Club squadror arrived at Holmes' Hole on Saturday last and left that place on Monday for Boston. Another auction sale of government vessels took place at the Brooklyn Navy Yard yesterday. Eleven, com prising both steamers and sailers, were disposed of. The attendance was large, the bidding animated, and the prices obtained good. Mr. P. S. Forbes, the contractor for the engine of the steamer Algonquin, in a communication to the Secretary of the Navy which we publish this morning, protest against the action of the Steam Engineering Bureau it

2. November 7, 1900 The Washington Weekly Post Washington, DC

Article from The Washington Weekly Post, November 7, 1900

Click image to open full size in new tab

Article Text

Embezzlers Nearly Always Caught, as This One Was. LOOTED NEW HAVEN INSTITUTION Sea of the Cashier and Nephew of the PresIdent of the Bank, This Yours Man Obtained the Safe Combination, Successfully Fled, and W as Caught Some Months Afterward by the Merest Accident-Love for a Woman Betrayed Him. "The recent embezziement by the note teller of the First National Bank of New York and the ease with which he was captured, said a well-known ex-detective last week, "recall one of the most remarkable and interesting cases I ever had anything to do with. It was the robbery of the Townsend Savings Bank of New Haven, Conn., which occurred in 1866, think At any rate, it was shortly after the end of the civfl war. in which great conflict the principal in the affair had distinguished himself and won many highly prized laurels. His name was Jerry Townsend, a son of the cashier and a nephow of the president of the Townsend Savings Bank of New Haven. "Jerry, soon after his return from the war, was given a minor position in the bank, and being a clever, well-educated fellow, he rapidly advanced until finally he was made paying teller. "Well, things ran along all right for some time, until one fine morning the cashier discovered that about $100,000 in cash and bonds had been taken from the safe the preceding night. The safe had not been blown open. It was simply unlocked by some one having the lock combination Now, according to the bank rules, only the president, the cashier, and the assistant cashier had this combination, hence suspicion was not directed toward any other person at first. Jerry was hardly mentioned in connection with the robbery. until his father, the cashier, remembered that some days prior the former had suggested the expediency of his having the combination, so that in case of the absence of all the other officers at the same time he could have access to the safe if necessary. And the old gentleman, regarding the proposition reasonable, gave his son the combination; yet, strange to say, he had neglected to inform the president that he had done so. The Teller Was Missing. "Now, Jerry had sent word to the bank the day before the robbery was discovered that he was so III he feared he would not be able to attend to his duties for a day or two; so he was not expected at the bank the day of the discovery; but as soon as his father had admitted that his son also could open the safe messenger was sent to the latter's home. I hardly need say that he was not there. "Hitherto the bank officers had conducted the examination in their own way, and as secretly as possible, yet when the paying teller could not be found by them and the story of the big steal was getting cut, they saw that other steps must at once be taken in the case, and 80 it came about that was called to take a hand in the game. I was on duty in New York City at the time received orders to run up to New Haven. On my arrival at the bank I found everything in a state of great confusion, and hundreds of excited depositors were clamoring at the bank doors for their money In the case of many of them it was the hard-earned savings of years of toil. "After getting all the information possible at the bank, I struck out after the thief. I soon found that there was a girl in the case, and that Jerry had spent part of the evening of the robbery at her home From there he probably went to the bank and got away with the swag before midnight, for about that time he called at a restaurant near the railroad station, and leaving a large valise with the bartender he went away and did not return until just before the 2 o'clock train left for New York. He was seen to board that train, yet then and there the trail of the robber was lost, entirely lost. Indeed, the man vanished as completely and suddenly as If the earth right there had opened and swallowed him. Not in New York or anywhere else could any trace of the abscond er be found. A big reward was offered. and detectives in all parts of the country, attracted by it, were in the hunt. and scoured every nook and corner in which they suspected he might lie hidden The search was kept up for weeks, but all our efforts were fruitless. Located by the Bonds. "After several months had passed. I began to lose interest in the Townsend case, for having other important professional matters to look after, I seldom gave It much thought. Of course, the strange, mysterious disappearance of the culprit still excited wonder and speculation. "One day, six or seven months after the robbery as I was walking leisurely up Broadway, New York, just below Wall street, was approached by a man who requested me to direct him to a money broker, as he wished to dispose of some United States bonds and was a stranger in the city. My mind being pretty well occupied with another matter at the time, gave this incident but little thought. We were near Wall street, and I pointed to the house of a well-known firm in that street, and, assuring the man that it would be all right there, I walked on. But had gone scareely a block when the recollection of the Townsend Bank robbery flashed like lightning through my mind Might not this man have some of the Townsend bonds? turned and fairly flew back to the broker's office to which had just directed him, and reached It barely in time to meet the stranger coming out. Showing him my authority and taking the chances, I arrested him and took him back into the office. He had sold one bond there, which upon examit nation found to be one of the Townsend Bank bonds. And searching the man. two or three more of those bonds came to light. But what was of vastly more Im. portance, he had on his person a letter from Jerry Townsend, dated Havana, Cuba, to his sweetheart in Connecticut This letter was to be delivered by the bearer to the lady in person. and It con tained instructions to meet the writer at a certain hotel in Liverpool, England, at a certain future time. "That my prisoner was thoroughly scared I need not assert. He pleaded ut. ter ignorance of the robbery, and declared that he had made the acquaintance of the man who had given him the letter and the bonds some months before in Havana, where the latter had posed as a captain of the United States army Of course he went under fictitious name there The prisoner was held and the matter kept from the newspapers until and some others, including an uncle of Jerry had crossed over to Liverpool We found the hotel and the robber who started out to resist, but finally surrendered. All but some $11,000, think, was recovered, and the prisoner was brought back, tried, convicte and sentenced to prison for seven years. An Enalish Coal King's Income. From the East Anglian Times

3. November 11, 1900 The Sun New York, NY

Click image to open full size in new tab

Article Text

# CATCHING A BANK THIEF. It Is Often Easy to Get Away, but Almost Always Hard to Stay Away. From the Washington Post. "The recent embezzlement by the note teller of the First National Bank of New York and the ease with which he was captured," said a well-known ex-detective last week, "recalls one of the most remarkable and interesting! cases I ever had anything to do with. It was the robbery of the Townsend Savings Bank of New Haven, Conn., which occurred in 1866, I think. At any rate, it was shortly after the end of the Civil War, in which great conflict the principal in the affair had distinguished himself and won many highly prized laurels. His name was Jerry Townsend, a son of the cashier and a nephew of the President of the Townsend Savings Bank of New Haven. "Jerry, soon after his return from the war, was given a minor position in the bank, and being a clever, well-educated fellow he rapidly advanced until he was made paying telier. "Well, things ran along all right for some time, until one fine morning the cashier discovered that about $100,000 in cash and bonds had been taken from the safe the preceding night. The safe had not been blown open. It was simply unlocked by some one having the lock combination Now, according to the bank's rules, only the President, the cashier and the assistant cashier had this combination, hence suspicion was not directed toward any other person at first. Jerry was hardiy mentioned in connection with the robbery, until his father, the cashier, remembered that some days prior the former had suggested the expediency of his having the combination, so that in case of the absence of all the other officers at the same time he could have access to the safe if necessary. And the old gentleman, regarding the proposition reasonable, gave his son the combination; yet, strange to say, he had neglected to inform the President that he had done so. "Now, Jerry had sent word to the bank the day before the robbery was discovered that he was so ill he feared he would not be able to attend to his duties for a day or two so he was not expected at the bank the day of the discovery; but as soon as his father had admitted that his son also could open the safe a messenger was sent to the latter's home. I hardly need say that he was not there. "Hitherto the bank officers had conducted the examination in their own way, and as secretly as possible, yet when the paying teller could not be found by thein and the story of the big steal was getting out, they saw that other steps must at once be taken in the case, and so it came about that I was called to take a hand in the game. I was on duty in New York city at the time I received orders to run up to New Haven. On my arrival at the bank I jound everything in a state of great confusion, and hundreds of excited depositors were clamoring at the bank doors for their money. In the case of many of them it was the hard earned savings of years of toil. "After getting all the information possible at the bank, I struck out after the thief. I soon found that there was a girl in the case, and that Jerry had spent part of the evening of the robbery at her home. From there he probably went to the bank and got away with the swag before midnight, for about that time he called at a restaurant near the railroad station, and leaving a large valise with the bartender, he went away and did not return until just before the 2 o'clock train left for New York. He was seen to board that train, yet then and there the trail of the robber was lost, entirely lost. Indeed, the man vanished as completely and suddenly as if the earth right there had opened and swallowed him. Not in New York or anywhere else could any trace of the absconder be found. A big reward was offered, and detectives in all parts of the country, attracted by it, were in the hunt, and scoured every nook and corner in which they suspected he might lie hidden. The search was kept up for woeks, but all our efforts were fruitless. "After several months had passed I began to lose interest in the Townsend case, for having other important professional matters to look after, I seldom gave it much thought. Of course, the strange, mysterious disappearance of the culprit still excited wonder and speculation. "One day, six or seven months after the robbery, as I was walking leisurely up Broadway, New York, just below Wall street, I was approached by a man who requested me to direct him to a money broker, as he wished to dispose of some United States bonds and was a stranger in the city. My mind being pretty well occupied with another matter at the time, I gave this incident but little thought. We were near Wall street, and I pointed to the house of a well-known firm in that street, and, assuring the man that it would be all right there, I walked on. But I had gone scarcely a block when the recollection of the Townsend Bank robbery flashed like lightning through my mind. Might not this man have some of the Townsend bonds? I turned and fairly flew back to the broker's office to which I had just directed him, and reached it barely in time to meet the stranger coming out. Showing him my authority and taking the chances, I arrested him and took him back into the office. He had sold one bond there, which upon examination I found to be one of the Townsend Bank bonds. And searching the man, two or three more of these bonds came to light. But what was of vastly more importance, he had on his person a letter from Jerry Townsend, dated Havana, Cuba, to his sweetheart in Connecticut. This letter was to be delivered by the bearer to the lady in person, and it contained instructions to meet the writer at a certain hotel in Liverpool, England, at a certain future time. "That my prisoner was thoroughly scared I need not assert. He pleaded utter ignorance of the robbery, and declared that he had made the acquaintance of the man who had given him the letter and the bonds some months before in Havana, where the latter had posed as a Captain of the United States Army. Of course, he went under a fictitious name there. The prisoner was held and the matter kept from the newspapers until I and some others, Including an uncle of Jerry, had crossed over to Liverpool. We found the hotel and the robber, who started out to resist, but finally surrendered. All but some $11,000, I think, was recovered, and the prisoner was brought back, tried, convicted, and sentenced to prison for seven years."

4. November 13, 1900 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, November 13, 1900

Click image to open full size in new tab

Article Text

CATCHING A BANK THIEF. Often Easy to Get Away but most Always Hard to Stay Away (From the Washington Post.) The recent embezzlement by the note teller of the First National Bank of New York and the ease with which he was captured, said a well known ex detective last week, recalls one of the most remarkable and interesting cases I ever had anthing to do with. It was the rob bery of the Townsend Savings Bank of New Haven, Conn., which occurred in 1866, think. At any rate, it was short ly after the end of the Civil War, in which great conflict the principal in the affair had distinguished himself and won many highly prized laurels His name was Jerry Townsend, a son of the cashier and a nephew of the President of the Townsend Savings Bank of New Haven. Jerry soon after his return from the war, was given a minor position in the bank, and being a clever, well-educated fellow he rapidly advanced until ne was made paying-teller. Well, things ran along all right for some time, until one fine morning the casher discovered that about $100,000 in cash and bonds had been taken from the safe the preceding night. The safe had not been blown open. It was simply uncked by some one having the lock combination. Now, according to the bank rules as only the president the cashier and the assistant cashier had this combination, suspicion was not directed toward any other person at first. Jerry was hardly mentioned in connection with the robbery, until his father, the casher, rebered that some days prior the former had suggested the expediancy of his having the combination, so that in case of the absence of all the other officers the same time, he could have access to the safe If necessary And the old gentleman, regarding the propositon reasonable, gave his son the combination; yet, strange to say, he had neglected to inform the president that he had done so. Now, Jerry had sent word to the bank the day before the robbery was discovered that he was so 111 he feared he would not be able to attend to his duties day or two: so he was not expected the bank the day of the discovery but soon as his father had admitted that his son also could open the safe a messen was sent to the latter's home. hardly need say that he was not there Hitherto the bank officers had conduct ed the examination in their own way and as secretly as possible yet when the paying teller could not be found by them and the story of the big steal was getting out, they saw that otner steps must at once be aken in the cage. and so it came about that called to take a hand in the game. was on duty in New York city at the time I received orders to run up to New Haven. On my arrival at the bank I found everything in a state of great confusion, and hundreds of excited depositors were alamoring at the bank doors for their money. In the case of many of them it was the hard earned savings of years of toll. After getting all the information possible at the bank, struck after the thief. soon found that there was a girl in the case, and that Jerry had spent part of the evening of the robbery at her home. From there he probably went to the bank and got away with the swag before midnight, for about that time he called at a restaurant near the railroad station, and leaving a large valise with the bartender, he went away and did not return until just before the 20 clook train left for New York. He was seen to board that train, yet then and there the trail of the robber was entirely lost. Indeed, the man vanished as completely and suddenly as the earth right there had opened and swallowed him. Not in New York or anywhere else could any of the absoonder be found. A big reward was offered, and detectives in all parts of the country, attracted by it, were in the hunt, and scoured every nook and corner in when they suspected he might lie hidden. The search was kept up for weeks, but all our efforts were fruitless. I After several months had passed began to lose interest in the Townsend case, for having other important professional matters to look after, I seldom gave it much thought. Of course, the strange, mysterious disappearance of the culprit still excited wonder and speculation. One day six or seven months after the robbery, as I was walking leisurely up Broadway New York, just below Wall street, I was approached by a man who requested me to direct him to a money broker, as he wished to dispose of some United States bonds and was stranger in the city. My mind being pretty well occupied with another matter at the time gave this incident but little thought. h We were near Wall street, and I pointed to the house of a well-known firm in that street, and, assuring the man that it would be all right there, I walked on. But I had gone scarcely a block when the recollection of the Townsend Bank robbery flashed like lightning through my mind. Might not this man have some of the Townsend bonds? turned and fairly flew back to the broker's office to which I had just directed him, and reached it barely in time to meet the stranger coming out. Showing him my authority and taking the chances, I arrested him and took him back into the office. He had sold one bond there, which upon examination found to be one of the Townsend Bank bonds. And searching the man, two or three more of those bonds came to light. But what was of vastly more importance, he had OB his person a letter from Jerry Townsend, dated Havana, Cuba, to his sweetheart in Connection This latter was to be delivered by the bearer to the lady in person, and it contained instructions to meet the writer at a certain hotel in Liverpool, England, at a certain future time. That my prisoner was thoroughly scared need not assert. He pleaded utter ignorance of the robbery, and declared that he had made the acquaintance of the man who had given him the letter and the bonds some months before in Havana, where the latter had posed as a captain of the United States Army Of course, he went under tétitious name there. The prisoner was held and the matter kept from the newspapers until of and some others, including an uncle Jerry, had crossed over to Liverpool. We found the hotel and the robber, who started out to resist, but finally surrenhnt some think