16920. Rome Savings Bank (Rome, NY)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
savings bank
Start Date
February 3, 1896
Location
Rome, New York (43.227, -75.492)

Metadata

Model
gpt-5-mini
Short Digest
bd8037a8

Response Measures

None

Description

Newspapers report the Rome Savings Bank resumed business on Feb 3, 1896 and that it was prepared for a run, but none was made. This indicates a brief suspension/closure or precautionary shutdown and a reopening; no run actually occurred. The broader trouble described concerns Fort Stanwix National Bank's bad paper, which likely prompted the precaution.

Events (2)
1. February 3, 1896 Reopening
Newspaper Excerpt
The Rome Savings Bank this afternoon resumed business. It was prepared for a run but none was made.
Source
newspapers
2. February 3, 1896 Suspension
Cause
Local Banks
Cause Details
Precautionary suspension/restriction tied to local bank (Fort Stanwix National Bank) troubles and loss of surplus reported in local press.
Newspaper Excerpt
The Rome Savings Bank this afternoon resumed business. It was prepared for a run, but none was made.
Source
newspapers

Newspaper Articles (6)
1. February 4, 1896 Birmingham State Herald Birmingham, AL
Article from Birmingham State Herald, February 4, 1896

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Article Text

A Bank in Trouble. Rome, N. Y., Feb. 3.-It has been learned that the Fort Stanwix National bank has been carrying paper to the amount of $60,000 or more for the Jones Canning company of Baltimore, upon which It has been unable to realize, and that the note which Cashier Barnard left exonerating Bookkeeper Sillenebeck and taking all the blame on himself refers to this. There is also said to be in the bank paper of the late firm of R. M. Bingham & Co. representing $36,000, on which all but about $10,000 has been paid, but nothing credited. There are also notes of the late D. B. Prince to the amount of $10,000, which cannot be realized upon. Mr. Barnard was the assignee of the estate of the late George Clarke, the great land owner, and there is more or less of this paper in the bank. All these things, together with the miscellaneous papers, which are worthless, or nearly so, will, it is believed, wipe out the entire surplus and undivided profits. amounting to $170,000. The stockholders of the bank are quite positive that the institution will be able to pay dollar for dollar. The Rome Savings bank this afternoon resumed business. It was prepared for a run, but none was made. The name of the Baltimore company is the J. Winslow Jones Packing company. It is stated that this company has $60.000 of drafts on the Fort Stanwix bank. In Dun's report for January. 1896. the Jones company is given no rating. It is stated that several years ago Jones traveled through this section purchasing the output of canning factories, and through the acquaintance thus formed the company established credit at the bank.

2. February 4, 1896 The Morning News Savannah, GA
Article from The Morning News, February 4, 1896

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Article Text

ROME'S BROKEN BANK. The Entire Surplus and Undivided Profits of $170,000 Wiped Out. Rome: N. Y., Feb. 3.-It has been learned that the Fort Stanwix National Bank has been carrying paper to the amount of $60,000 or more for the Jones Canning Company of Baltimore, upon which it has been unable to realize, and that the note which Cashier Barnard left exonerating Bookkeeper Sillenbeck, and taking all the blame on himself refers to this. There is also said to be in the bank paper of the late firm of R. M. Bingham & Co., representing $36,000 on which all but about $10,000 has been paid, but nothing credited. There are also notes of the late D. B. Prince to the amount of $10,000 which cannot be realized upon. Mr. Barnard was the assignee of the estate of the late George Clarke, the great land owner, and there is more or less of this paper in the bank. All these things, together with the mis, cellaneous papers, which are worthless on nearly so, will, it is believed, wipe out the entire surplus and undivided profits. amounting to $170,000. The stockholders of the bank are quite positive that the institution will be able to pay depositors dollar for dollar. The Rome Savings Bank this afternoon resumed business. It was prepared for a run, but none was made. The name of the Baltimore company 1st the J. Winslow Jones Packing Company. It is stated that this company has $60,000 of drafts in the Fort Stanwix bank. In Dun's report for January, 1896, the Jones company is given no rating. It is said that several years ago Mr. Jones traveled through this section purchasing the output of canning factories, and through the acquaintance thus formed the company established a credit at the bank.

3. February 4, 1896 The Morning Times Washington, DC
Article from The Morning Times, February 4, 1896

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Article Text

Rome Bank Escaped a Run. Rome, N. Y., Feb. 3.-The Rome Savings Bank this afternoon resumed business. It was prepared for a run but none was made.

4. February 4, 1896 The Norfolk Virginian Norfolk, VA
Article from The Norfolk Virginian, February 4, 1896

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Article Text

Carried It Baltimore Firm's Paper. Rome, N. Y., Feb. 3.--It has been: learned that the Fort Stanwix National Bank has been carrying paper to the amount of $60,000 or more for the Jones Canning Company of Baltimore, upon which It has been unable to realize and that the note which Cashier Barnard left exonerating Book-keeper Sillenbeok and taking all the blame on himself refers to this. There is also said to be in the bank. paper of the late firm of R. M. Bingham & Co., representing $36,000. on which all but about $10,000 has been paid, but nothing credited. There are also notes of the late D. B. Prince, to the amount of $10,000 which cannot be realized upon. Mr. Barnard was the assignee of the estate of the late George Clarke, the great land owner, and there is more or less of this paper in the bank. All these things together with miscellaneous papers, which are worthless or nearly so, will it is believed wipe out the entire surplus and undivided profits amounting to $150,000. The stockholders of the bank are quite positive that the institution will be able to pay depositors dollar for dollar. The Rome Savings Bank this afternoon resumed business. It was prepared for a run but none was made. The:name of the Baltimore company is/the J. Winslow Jones Packing Company. It is stated that this company has $60,000 of drafts in the Fort Stanwix Bank. In *Dun's report for January, 1896, the Jones Company is given no rating. It is said that several years ago, Mr. Jones travelled through this section purchasing the output of canning factories and'through the acquaintance thus formed the company established credit at the bank.

5. February 4, 1896 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, February 4, 1896

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Article Text

FORT STANWIX BANK It Had Much Paper of the Jones Canning Company, of Baltimore. SURPLUS AND PROFITS GONE. The Depositors, It is Believed, Will Be Paid Dollar for Dollar-The Rome Savings Bank Resumes Business. ROME, N. Y., February 3.-It has been learned that the Fort Stanwix National Bank has been carrying paper to the amount of $60,000 or more for the Jones Canning Company, of Baltimore, upon which it has been unable to realize, and that the note which Cashier Barnard left, exonerating Book-keeper Sillenbock and taking all the blame on himself, refers to this. There is also said to be in the bank paper of the late firm of R. M. Bingham & Co., representing $36,000, on which all but $10,000 has been paid, but nothing credited. There are also notes of the late D. B. Prince to the amount of $10,000, which cannot be realized upon. Mr. Barnard was the assignee of the estate of the late George Clarke, the great land-owner, and there is more or less of this paper in the bank. All these things, together with miscellaneous paper, which is worthless, or nearly so, will, it is believed, wipe out the entire surplus and undivided profits, amounting to $170,000. The stockholders of the bank are quite positive that the institution will be able to pay depositors dollar for dollar. The Rome Savings Bank this afternoon resumed business. It was prepared for a run, but none was made. The name of the Baltimore company is the J. Winslow Jones Packing Company. It is stated that this company has $60,000 of drafts in the Fort Stanwix Bank. In Dun's report for January, 1896, the Jones company is given no rating. It is said that several years ago Mr. Jones travelled through this section purchasing the output of canning factories, and through the acquaintance thus formed the company established credit at the bank.

6. February 5, 1896 The Scranton Tribune Scranton, PA
Article from The Scranton Tribune, February 5, 1896

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Article Text

SCRANTON, PA., WEDNESDAY MORNING, FEBRUARY 5, 1896. kansas, California. Colorado, Geor Indiana, Iowa, Kansas, North Ca SITION swamp Cashier the Barnard. bank and This throw amount it into will the SELECTION OF SENATORS hands of a receiver. The capital stock lina, New York, New Jersey. Penns is $150,000 and the surplus and undividvania, South Carolina. South Dako ed profits $170,000 more, so the stockTexas, West Virginia and Virginia enate to Hon. Jack Robinson's Letter Anholders must be assessed. The morning and afternoon sessio The conviction that Cashier Barnard which were secret. the members be ation. swered by Senator Quay. was a defaulter is slowly forcing itself adverse to taking the public into co dence regarding their deliberatic upon the people of Rome, who at first refused to believe that he had misapwere devoted, one of the members sa ELVED to the transaction of routine busin propriated any funds. It is alleged HAS NO RIGHT TO INTERPERE that lately Mr. Barnard had been specuand the consideration of reports fr committees. lating in stocks in the hope of being able to make un for losses to the bank A committee was appointed to go commond The Senator Thinks That the State Comfore the house committee on bank through mismanagement. r in the mittee Should Refrain from Making The Rome Savings bank has moved and currency tomorrow. it was sa upon the invitation of the chairm Debate into new quarters, and is doing busiSuggestions-Local Organizaness. There was no run. Congressman Walker, of Massac ions. tions Qualified to Act. setts. said: This committee is comm