16904. Rochester City Bank (Rochester, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 20, 1882
Location
Rochester, New York (43.155, -77.616)

Metadata

Model
gpt-5-mini
Short Digest
ffca675a

Response Measures

None

Description

Articles report the Rochester City Bank suspended/failed in Dec 1882, the president was arrested for embezzlement (Dec 26, 1882), and by Feb 1883 a receiver is handling a defunct bank and depositors expected ~20%. There is no clear description of a depositor run; cause appears to be bank-specific adverse information (embezzlement).

Events (3)

1. December 20, 1882 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank carried large amount of oil paper and shortly after president is charged with embezzling over $200,000 (per later report), indicating bank-specific malfeasance/insolvency.
Newspaper Excerpt
a dispatch was received announcing that the Rochester City bank, which has been carrying a large amount of oil paper, had failed.
Source
newspapers
2. December 26, 1882 Other
Newspaper Excerpt
Charles E. Upton, president of the suspended Rochester, N. Y., city bank, was arrested ... charging him with grand larceny ... embezzling and converting to his own use the funds of the bank to the amount of more than $200,000.
Source
newspapers
3. February 27, 1883 Receivership
Newspaper Excerpt
Receiver Atkinson, of the defunct Rochester city bank, states there is a probability that depositors will receive about 20 per cent.
Source
newspapers

Newspaper Articles (3)

Article from Morning Journal and Courier, December 21, 1882

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Article Text

PENNSYLVANIA. A Panic in the on Market. PITTSBURG, Dec. 20. The oil market to. day has been more panicky than it has been for many days. The drop yesterday swallowed up a number of weaklings and the long faces have been multiplied to an alarming extent. The market opened at 80 this morning and in a few moments had declined to 77 f. There was a rally to 821, but just before the closing of the morning board a dispatch was received announcing that the Rochester City bank, which has been carrying a large amount of oil paper, had failed. There was another panic and the market tumbled to 78 when the gong sounded. In the afternoon there was a rally and


Article from Evening Star, December 26, 1882

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Article Text

# Bank President Upton Arrested. Charles E. Upton, president of the suspended Rochester, N. Y., city bank, was arrested Saturday afternoon upon a warrant procured by the directors of the institution charging him with grand larceny in the first degree in embezzling and converting to his own use the funds of the bank to the amount of more than $200,000. He was arrested at his residence, and at once taken before the police justice, where he waived examination and was held to appear before the next grand jury which meets January 1. He was subsequently taken before County Judge W. C. Rowley and was admitted to bail in the sum of $20,000. His wife, H. P. Warner and William S. Rider became his bondsmen.


Article from Evening Star, February 27, 1883

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Article Text

Name. a some O. C. Cen. Pacific 80 38 88 80% Nor. & Wes. p 20% Ches. & Ohio 21 North Pac 48 47% 30 29 Do. 1st pref Do. pref 83 82% 23 Do. 2d pret 24 Northwest 181 182V C.C.C.& 78% Ont. & West 25 25 Col. Coal 80 Pac. Mall 404 4016 1215 D.,LLW W Peo. D. E 20 122% 204 Den. & R G 44 43% Reading 58 523 Erte 86 87 St. Paul 100 101 Erle, 2ds 96 119 St. Paul pref 1174 III. Central St. P. & Omaha 1424 47 148 Lake Shore 109 108% 108 1064 Do. prer Lou. Nash 58 53% Texas Pac 38 Mich. Cent 92 93% Tex. . ''d'g'ts. M. K. Union Pac 29% 94 94 Mo. Pacific 98% 99% Wab. Pac 27% 2003 N. J. Central 45% 703 71% Wab. Pac. p'd. N. Y. Central. 125% 126% West. Union 81 81% News Briefs. Receiver Atkinson, of the defunct Rochester city bank, states there is a probability that depositors will r eceive about 20 per cent. Admiral Crosby, of the United States navy, has arrived at Southampton from Brazil. At the Frede rick. Md., municipal election yesterday, Hiram Bartgis, democrat, was elected mayor, and the democrats control the corporation. The First National bank of Union Mills. of Union city, Erte county,P closed Its doors Saturday. In the wrestling match between Duncan C. Ross and Theobald Bauer at Savannah, Ga, yesterday, Ross won. The levees between Greenville, Miss., and New Orleans, and also those above Vicksburg on the Mississippi side, remain intact. The grand jury at Milwaukee yesterday found an indictment against Sheller, the barkeeper of the Newhall house, charging him with setting fire to the building. His ball was fixed at $10,000. The Pennsylvania railroad company are contemplating establishing boat connections between Cambridge and Oxford, Md. and Baltimor to con. nect with their recently purchased line, the Dor. chester and Delaware railroad. The case of ex-Treasurer Polk was called in the criminal court at Nashville, Tenn.. yesterday. but was continued, owing to the illness of the pri-oner, The Massachusetts house of representatives yesterday engrossed the bill providing for the destruction of English sparrows. The superintendent of public instruction of Vir. ginta has called a conference of the county and the city superintendents of schools to meet in Richmond to-day. George C. Barber, charged with having attempted to sell bogus bonds of the Albany and Susquehanna railroad company, had A hearing in Philadelphia yesterday, and was held in $1,500 ball for s further hearing. The Trustees of the Newark (N.J.) City Home, at Verona, Essex county, the reformatory Institution of the city of Newark, last night voted to admit ministers of all denominations to visit the inmates. At the investigation of the charges against the officers or the Dixmont (Pa.) insane asylum yesterday, D. Carroll stated that he refused t take medicine, and was knocked down, kicked and choked, and saw plenty of others maltreated. Capt. Martin L. Smith was liberated from the lunatte asylum by order of Judge Donohue of New York, II had been confined for several years. The Irish societies of New York city will cele. brate St. Patrick's day by a street parade and a picnic at Jones' Wood, the proceeds of which will be sent to Mr. Parnell THE COLORED BEAUTY SHOW IN BALTIMORE Eleven colored women sat in a row on the stage at Douglass Institute last night to contest for the honor of being considered the champion beauty of America. The most noticeable element of their good looks was their gleaming white teeth. All the beauties were conscious of the adoration they were receiving. and seemed quite proud of the distinction. Sniffs of disparagement were heard from visiting colored belles. There were a number of white visitors. Among these was a wellknown gentleman, who bought five dollars' worth of ballots to back up bis declaration that a certain beauty would take the prize, which is said to be $100 in gold, in addition to the honor. No. 89 is the favorite thus far. She is from Alexandria, Va., but would not give her name for publication, because such things, she said, are low and com. mon. She has black eyes, and scoquettish in man. ner. Miss Jennie Gibson, No. 15, is light in color and was dressed in black. Miss Florence Minor, No. 85, had on a complete black velvet outnt, and was adorned at the neck and waist with many flowers. Miss Mary E. Banen, No. 33. is a dignified jubilee singer. Miss Lizzle A. Cornish, No. 87, has a light complexion and a plum dress. Miss Sedonia Wise, No. 3. was resplendent in black silk. Miss Ella E Barker, No. 29. was well satis. ned in black velvet and bangs Miss Edith Wise, No. 23. is pensive, has long straight hair and a garnet dress Miss Fanny Spriggs, No. 25 is plump and Jolly. Miss Annie Johnson, No. 21. was fine in black silk, and Miss Fannle Brown. No. 27, was elegant in navy blue silk. The beauties are from Baltimore, Washington, New York, Philadelphia and Virginia. The show is being conducted with great propriety and lignity.-Bultimore Sun, to-day. MR. PARNELL SHARPLY ARRAIGNS THE BRITISH GOVERNMENT. Parnell ye-terday. in moving his amendment to the address in reply to the speech from hethrone, spoke of the unjust executions" in Ireland, and said that the people had been kept down by the brutal, terrible, coercion act. He defined the government to continue to govern Ireland without the sympathy of the people. He complained or the Irish judges whom, he said, had mostly been appointed for political rea. sons, and were unfit to try political cases. If the government, after the Phoenix park murders were committed, had relied on the sympathy or the people instead of u.on a tyrannical act, Ireland would have been pacified. Mr. Parnell said the government now a great opportunity to restore peace and order in Ireland. H was conflite of victory, having a million of Irish in America be hind him. Mr. Parnell's amendment was rejected. THE ELECTRIC LIGHT IN NORFOLK. A meeting of representative business m n or Norfolk, Va., Friday evering decided to organize 8 company for the introduction of the electric light. The capital stock is to be not less than $10,000 nor more than $20,000.