Rochester Savings Bank - Rochester, NY

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: November 19, 1897
Location: Rochester, New York (43.155, -77.616)

Metadata

Model: gpt-5-mini
Short Digest: 5fa190da

Response Measures

None

Description

Multiple contemporary short dispatches (Nov 19–27, 1897) state the directors voted to place the Rochester Savings Bank in liquidation due to falling business/deposits. No run or creditors' panic is described. This appears to be a voluntary liquidation/suspension leading to permanent closure.

Events (1)

1. November 19, 1897 Suspension

Cause: Voluntary Liquidation
Cause Details: Directors voted to place the institution in liquidation; business had been falling off and deposits fell below $200,000 according to dispatches.
Newspaper Excerpt: The directors of the Rochester Savings bank have voted to place that institution in liquidation.
Source: newspapers

Newspaper Articles (3)

1. November 19, 1897 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, November 19, 1897

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Article Text

BRIEF TELEGRAMS. The directors of the Rochester Savings bank have voted to place that institution in liquidation. At yesterday's session of the National Grange at Harrisburg, $5,000 was set aside as a lecture fund. Mount Holyoke college, located near South Hadley, Mass., celebrated its 60th anniversary yesterday. A southwest hurricane is raging along the coast from Eureka to Cape Flattery, having moved south from Oregon. At a meeting of the colored people of Chicago resolutions were adopted in memory of the late John A. Langston, of Washington, D. C. Chief Justice Street, of Arizona, has set next Monday as the time for the appointment of a receiver for the Arizona Improvement company. Executions aggregating nearly $40,000 were issued against Hulling Bros., contractors, who were building the Chanoine dam on the Ohio river at Merritt, Pa. The Southern Pacific train from Long Beach to Los Angeles, ran into a team and wagon near Compton, killing H. Klein, a farmer, and his son and both horses. While trying to save the life of her 6year-old son Henry, Mrs. Arthur Fern was struck by a train near the village of St. Jean Baptiste, R. I. Both mother and son were killed. The bill prohibiting football matches has been passed by both houses of the Georgia legislature, and now awaits the approval of the governor. There is no doubt but what The will sign it. The steamer Truckee, bound from Tillamook, on the sound, to San Francisco, lumber laden, went ashore yesterday morning on the north spit of the Umpqua river, about 20 miles from 'Frisco up the coast. At the second day's session of the National Academy of Science in Boston, Miss Alice L. Gould, daughter of the late Benjamin Apthorp Gould, who was a member of the academy, presented to the organization a fund of $20,000. Nine well known residents of Bloomington, Ind., and vicinity have been arrested for whitecapping. It is alleged that on the night of Aug. 17, the men took Milton Southers and his old mother from their home by force and cruelly whipped them. Two policemen have been detained to guard the residence of P. D. Armour, in Chicago, on account of a rumor from Minneapolis that a speculator who had lost money in wheat has gone insane and left Minneapolis with the avowed purpose of killing Armour.

2. November 24, 1897 The Enterprise Wellington, OH

Article from The Enterprise, November 24, 1897

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Article Text

EAST. The death of Rev. G. H. Houghton. pastor of the Church of the Transfiguration, better known as the "Little Church Around the Corner," occurred at New York City on the 17th. An appeal will be made to the public at large for subscriptions to a memorial for Henry George. Austin Pryor, colored, 45 years old, who had just been elected president of the Hotel Brotherhood of the United States, dropped dead at Philadelphia on the 17th while receiving congratulations of the members of that organization. Owing to the explosion of a kerosene lamp Mrs. Terrell, aged 70, and her nephew, Edward Mason, aged 50, were burned to death on a farm a few miles from Peru, N. Y., on the night of the 15th. An edict against football has been issued by President Fetterolf, of Girard college, Philadelphia, and henceforth the students of the institution must keep off the gridiron. The ban on football was the result of a boy having his leg broken during a practice game. The wages of the employes at the Jesse Eddy woolen mill in Fall River, Mass., will be increased 10 per cent., beginning December 1. Several hundred hands are affected. The Jim Brown, a towboat owned by W. H. Brown & Sons, coal operators, struck the channel pier of the Pennsylvania railroad bridge, near lock No. 2 on the Monongahela river, on the 17th sank in ten feet of water. The erew were rescued. The boat cost $45,000. The application for a recount of the votes on the anti-gambling amendment to the New Jersey constitution has been denied by the supreme court of that state. Fire destroyed the large brick building at Philadelphia occupied by S. Pack & Sons, wholesale dealers in matresses and bedding, on the 18th. The loss is from $50,000 to $75,000; insured. The story that Speaker Reed is going to New York to reside and practice law is denied by that gentleman. While endeavoring to save the life of her 6-year-old son Henry, Mrs. Arthur Fortin was struck by a train near Valley Falls, R. I., on the 18th. Both mother and son were killed. It'is the intention of the directors of the Rochester, N. Y., Savings bank to place that institution in liquidation. The bank's business has been gradually falling off, until the deposits amount to less than $200,000. The plan for the consolidation of the New Amsterdam, the Consolidated, the Mutual and the Standard gas companies of New York City is said to be approaching consummation. The entire field of Greater New York will then be covered by one gas company. In the supreme court at Boston on the 19th Judge Allen made permanent the appointment of two temporary receivers for the Bay State Beneficiary association and personally enjoined the company and its agents from doing further business. The assets are about $150,000; liabilities $450,000. At Poughkeepsie, N. Y., the new Recreation hall which John D. Rockefeller has just built for Vassar college at a cost of $100,000 was dedicated on 19th. For the week ended November 19 business failures in the United States numbered 267, as compared with 334 for the same period of 1896, and 32 in Canada, as against 40 for the corresponding week last year. On the 19th the board of canvassers of the election returns in Brooklyn, N. Y., finished its count on the vote cast for John E. Thorne, republican, and Samuel E. Hubbard, democrat, candidates for the assembly from the Tenth assembly district, and declared Hubbard the winner by one vote. The number of votes cast was as follows: Hubbard 4,350, Thorne 4,349. The death of John Britton, aged 60 years. late major of the Eighteenth Pennsylvania cavalry, occurred in New York City on the 18th. A sabre wound he received at Hagerstown, Md., in 1868 caused Maj. Britton to lose the entire use of his eyes during the last nine years of his life. He was in 49 battles.

3. November 27, 1897 The Democratic Advocate Westminster, MD

Article from The Democratic Advocate, November 27, 1897

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Article Text

GREAT PROSPERITY! How the Country is Advancing Under a High Protective Tariff and the Single Gold Standard. According to Dun's Review failures up to November 20th, instant. were $5,600,424 against $4,725,478 for the same period last year. Oshkosh, Wis., November 19.-Following is a list of largest creditors of Henry Sherry, who made an assignment on Wednesday last: Hiram Smith, $225,000; D. C. Vansotrand, $100,000; C. W. Howard, $63,000; Mrs. D. T. Kimberly, $25,000; Mrs. George Harlow, $30,000; First National Bank, Milwankee, $150,000; National Bank of Oshkosh, $75,000; Manufacturers' National Bank of Neenah, $31,000; total, $699,000. PITTSBURG, PA., Nov. 19.-The Wage Committee of the window glass workers and manufacturers disagreed today, and no settlement was reached. The manufacturers offered a restoration of the wages paid in 1892, but the work TS demanded a greater increase. No time was set for another conference. The workers refused to submit the wage scale to arbitration. Charles Heiser, a shoe manufacturer, on N. Howard st, Baltimore who made an assignment for the benefit of creditors August 19, applied Saturday in the Court of Common Pleas for the benefit of the insolvent laws. William S. Taylor was appointed preliminary trustee. There are no assets, Mr. Heiser having turned over all his property to the trustee under the deed of trust. The liabilities aggregated about $50,000. The Hvland & Brown department store, at Elmira, New York, has given chattel mortgages amounting to $65,000 to creditors. The assets and liabilities are each $150,000. Lee Walter Sumner, hatter on N. Entaw street, Baltimore, on Monday made an assignment for the benefit of his creditors to Chas. Lee Merriken, as trustee, who bonded in the penalty of $3,000, which would indicate Mr. Sumner's assets to be worth about $1,500. George R. Minnick, formerly engaged in the plumbing business, Baltimore, also made a deed of trust for the benefit of his creditors to A. Crawford Smith, as trustee, who filed a bond in the sum of $1,000. The Sheriff of Abilene, Texas, has received an attachment against S. Lapowski & Bro., dealers in dry goods. Weintraub & Klepper, of Providence, R. I., dealers in dry goods, have made an assignment. Rosa Finkelstein, of Washington, D. C., dealer in dry goods and clothing, has sold out and been attached. Bernard Long, of Selma, Ala., dealer in dry goods, has been attached for $5,500. Williams & Moore Railway Jack Co., of Chicago, has made an assignment. Wm. J. Curtis, assignee of W. G. Hitchcock & Co., importers of black dress goods, erapes,&c., at 453 and 455 Broome street, New York, filed schedules on Monday. The firm has direct liabilities of $1,144,836; contingent liabilities, $110,000; nominal assets, $1,260, 979; actual assets, $586,649. I. M. Rosenberg & Co., jobbers in hosiery and notions at 41 Lispenard street, New York, failed on Monday. All the stock was removed early in the morning, and when creditors arrived there they found the place closed and only the fixtures and a roll-top desk were left. The habilities are about $15,000. The Sheriff on Monday took charge of the place of business of Louis Kleinbaum, manufacturer of furs, at 140 Green street, New York. Douglass C. Gosnell and Wm. J. George, trading as Gosnell & George, grocers, Baltimore, Md., have made an assignment. D. F. Osborne & Son, Water Mills, N. Y., grocers, have made an assignment. E. H. Stark & Co., Worcester, Mass., shoe manufacturers, have made an assignment. Executions for $6250 have been issued against Wm. Gerhardi, dealer in clothing, Hazelton, Pa. A receiver has been appointed for the Cantwell Eagle Brewing Company of Chicago. Pape & Weber Carriage Company, St. Louis, has given a deed of trust for $27,382. J. W. Cann, Whitesboro, Texas, dealer in dry goods, has made an assignment. A Haverhill, Massachusetts, despatch says a reduction of wages has been made in the shoe factory of J. H. Winchell & Company, varying from 10 to 25 per cent. At the factory of Chick Brothers the cutters have been reduced from $15 to $12 per week, and the latter price will probably stand in all the big shoe shops during the winter. There have been minor reductions in other factories. The Directors of the Rochester, New York. Savings Bank have voted to place that institution in liquidatton. The officials say that the bank's business has been gradually falling off, until the deposits amount to less than $200,000. Aaron Frankenstein, Elmira, N. Y., dealer in clothing, has given a chattel mortgage for