16956. Schoharie County National Bank (Schoharie, NY)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
1510
Charter Number
1510
Start Date
March 21, 1885
Location
Schoharie, New York (42.666, -74.310)

Metadata

Model
gpt-5-mini
Short Digest
4be52829

Response Measures

Full suspension, Books examined

Other: Comptroller/examiner took possession and receiver appointed.

Receivership Details

Depositor recovery rate
42.4%
Date receivership started
1885-03-23
Date receivership terminated
1890-09-30
OCC cause of failure
Fraud
Share of assets assessed as good
58.9%
Share of assets assessed as doubtful
24.1%
Share of assets assessed as worthless
17.0%

Description

Newspapers report an unexpected run (Mar 21, 1885), examiner took possession same day, and Comptroller appointed a receiver (Charles Holmes) Mar 23, 1885. Cause of the run is not specified beyond being unexpected, so classified as 'other' for the run; the suspension/possession is government action (examiner/Comptroller). OCR corrected minor spacing issues but bank name and dates are clear.

Events (5)

1. August 9, 1865 Chartered
Source
historical_nic
2. March 21, 1885 Run
Cause Details
Article attributes the bank's trouble to an unexpected run but gives no specific trigger (no rumor, scandal, or correspondent failure mentioned).
Newspaper Excerpt
ascribing its present trouble to an unexpected run made on the bank.
Source
newspapers
3. March 21, 1885 Suspension
Cause
Government Action
Cause Details
Bank examiner took possession of the bank (Comptroller intervention) following the run.
Newspaper Excerpt
the Comptroller of the Currency to-day received a telegram from Bank Examiner Shelley, saying that he had taken possession of the Schoharie County National Bank
Source
newspapers
4. March 23, 1885 Receivership
Source
historical_nic
5. March 23, 1885 Receivership
Newspaper Excerpt
the Comptroller of the Currency to-day appointed Charles Holmes, of Cobleskill, N. Y., to be receiver of the Schoharie County National Bank of Schoharie, N. Y.
Source
newspapers

Newspaper Articles (6)

Article from Daily Kennebec Journal, March 21, 1885

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Article Text

WASHINGTON nomina following The President sent the be to the Senate today of Tennessee, to be tions John D. C. Atkins. of Icdian Massachusetts, Affairs. to Commissioner Myrick. of Marine. be AsLieutenant Orrin D. D. of Porter, the Revenue of Tennessee, to sistant James Senate Secretary today of State. confirmed the following to be nominations The V. Montgomery of Michigan, Milton J. of the treasury. commissione Martin Durham of patents of Kentucky, to be first be supering R. Ryan comptroller William Garrard of Nevada, Carson City, to Nevada. tendent of the mint of Nevada, to be coiner of be first the Joseph mint at Hay Carson of Pennsylvania, City. to assistant Malcom postmaster general. postmaster general, The new first assistant the post office for depart- the Hay, was at to Florida leaving ment today. his health in incumbent of Crosby, the his absence. benefit Malcom of He present will go few days. the at office, Mr. in charge during missions continue Applications the for state foreign departments, man and to index take Some about to pour the in entire time of of one the requests are are con- in and file application them. form, but the many secretary. A regular letters to the more cealed in personal consulships. but and many majority are for are not slighted, prominent applications the of gift important offices are made the for the government. most foreign It is important missions in that a number made of in a few days. appointments expected will be treasury has appoint- COOD The secretary of the Fairchith and commised Assistant Secretaries Treasurer Graves a examinaand Assistant instructions to make an with special sion, w ith department and improve; tion of the treasury "implification and to the doing business, the reduction ment reference of the methods and of rearrangement of were to official the clerical force. callers today of Among the President's and Eustie and Gen HarLouisiana, Farr, Gov. Senators Blackburn Senators Kenna, Crosby. from ris. Burke Brown Evarts Gov. and Wilson and a Camden. delegaAdmiral Worden. West Virginia, commissioner Senator of interCox. of New with tion nal revenne, Mr. York, Miller, Mr. and the Evans, other Representative members of the rehas House. The comptroller information of that the the currency Schoharie N. Y .closed Counceived ty National Bank, morning, of Schoharie. and that No Bank particu- ExamCan on its doors investigating this its affairs. but Comptroller to iner lars have is says been there received. can be serious loss additional depositors. Senate, today ratified extending unThe treaty, the of til article May of 20, necessary the 1886, Mexican the to time carry between for into the operation the approval two gov- 25, the laws convention Jan. commercial at Washington. secrecy ernment, 1883. and concluded removed the injunction of chief office therefrom. Misapprehe nsion appears of the to appointment exist in regard The di department. vision to the of numbent the treasury of the office, Mr. weeks Trevett. ago present in about two Manning to rendered is accepted resignation by Secretary Trevett was granted and it was April 1st and In the mean of absence of Baltimore Eugene roll" of take leave effect Higgins till that date. the was special acting given time on the "fraud assigned to duty as una position ivision and division, and it is as chief agents of appointment promised the office taken The derstood that he was resignation shall h connecis which receiving soon as Trevett's question has arisen in careis effect. tion with this office which in its settlement rearrange, relation ful attention disarrange, and or perhaps to offices liable the civil to service rules in and which may pre- to has under Higgins the government, receiving the appointment been selected. vent the office for which commission he holds that from only the The civil service offices are exempt act who are nominated those government civil service confirmed provision of by the the President minor and cases of ofby the Senate and positions a few of financial civil or service judicficials holding by rule 19 of bureaus" the are exiary nature. yet divisions or of bureaus rules "chiefs of examination. Chief chiefs of empted from the President, but the hitch are nominated not, by and right here said is to have divisions are inconsi tency is of certain The apparent result of the opposition late administration been the officials under the of the civil Chiefs with prominent to a thorough application of bureaus in the chiefs State be to department service law. are of equivalent departments. rank and others if the exempted of the of divisions in other it is claimed last adshould first are be. Before effort the was close made to secure a ministration an in all the department classification contents of the act. in uniform with the commission accordance the civil service be included. construed by division! should without to which chiefs of permanently appointed he has examination it be will claimed If Higgins is the office for which in violabeen been selected it service is law but vet in by per- the tion of the civil with the laws as published subcivil fect accord service commission. in an article on the The Star of today, understood that the matter Presiject, says It is to the attention of been brought that he has expressed had dent Cleveland, and carrying out to the special letter himself d sirious act of without regard to place as civil service done Trevett's be filled by the rules. If this is division cannot promiarbitrary a Star chief of the appointment appointment A to reporter nent official remarked Cleveland to will immortalize service himself day that if President be straightens out this civil business. clerks to the Senate have and House prepared Com- in mitttees The on appropriation of the regular approtabular form a passed history during the last appropria- session priation bills showing the amount finally of Congress, bill as reported to, and as estimates ted by each by each House. The total July 1. 1885, for passed the fiscal year beginning The aggregate of appro- its committee were $266,403,181 reported to the House was $219,843, from priation, as on appropriations reduced by the House to increased the it to tee on and the Senate 815. $228,402,055. This appropriations 8216,085,447 aggregate conference was The Senate reduced committees commit- amount f to The $215,511, 595, $221,177,254. the aggregate to amountfurther Miscellaneous reduced appropriations


Article from Savannah Morning News, March 22, 1885

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Schoharie's Broken Bank WAAHINGTON, March 21.-The Comptroller of the Currency to-day received a telegram from Bank Examiner Shelley, saying that he had taken possession of the Schoharie County National Bank, of Schoharie, N. Y., and ascribing its present trouble to an unexpected run made on the bank.


Article from Richmond Dispatch, March 22, 1885

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Article Text

General Washington Notes. [By telegraph to the Dispatch.] ASHINGTON, D. C., March 21.The Committee on Rules, to which was referred the question of order raised by Senator Frye as to the operation of Clause 3, Rule 36, reported in executive session to-day that it extends the injunction of secrecy to each step in the consideration of treaties, including the fact of notification; that no modification of this clause of the rules ought to be made that secrecy as to the fact of ratification of a treaty may be of the utmost importance, and ought not to be removed except by order of the Senate, or until it has been made public by proclamation of the Executive. The report was adopted, and the injunction of secrecy was removed therefrom. The Comptroller of the Currency today received a telegram from BankExaminer Shelley saying that he had taken possession of the Schoharie County National Bank, of Schoharie, N. Y.. and ascribing the present trouble to an unexpected run made on the bank. The new Assistant Secretary of State, ex-Governor James D. Porter. of Tennessee, assumed the duties of his office to-day. Attorney-General Garland to-day issued an order reducing the force of examiners in the Department of Justice from seven to four. In his letter to the three examiners who are notified that their services will be dispensed with after the 31st, the Attorney-General says that his action is based on the belief that the interests of the Government do not now require as many examiners as are at present in the employ of the Department, and in reducing the number he has concluded to retain those who are of the longest service in the Department. In accordance with his expressed intention of reducing the force of postoffice inspectors, Postmaster-General Vilas to-day called for a number of resignations among that class of employés. The newly-elected representative from Tennessee, J. B. Richardson, has the honor of securing the first appointment made by Postmaster-General Vilas. Upon his solicitation J. N. Taylor was to-day appointed postmaster at Lynchburg, Tenn., to fill the vacancy caused by the resignation of the late postmaster. The postmaster at St, Paul, Neb., has been arrested by post-office inspectors, a shortage of $800 having been discovered in his accounts.


Article from Savannah Morning News, March 24, 1885

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Schoharie's Bank Receiver. W ASHINGTON, March 23.-The Comptroller of the Currency to-day appointed Charles Holmes, of Cobleskill, N. Y., to be receiver of the Schoharie County National Bank of Schoharie, N. Y. This action is based on the recommendation of the national bank examiner who investigated the affairs of the bank.


Article from New-York Tribune, March 24, 1885

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APPOINTING A RECEIVER FOR A BANK. SCHOHARIE, March 23.-The Controller of the Currency has appointed Charles Holmes, of Cobleskill, N. Y., to be receiver of the Schoharie County National Bank, of Schoharie, N. Y. This action is based on the recommendation of the National bank examiner who investigated the affairs of the bank.


Article from New-York Tribune, April 17, 1889

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applis.; George C. Genet. applt,. agt. City of Brooklyn, respdt.; Joseph Disher. respdt., agt, New.York Central and Hudson River Rallroad Company, applt.; Helen E. Edwards, respdt., agt. William C. Lamont, receiver of the Schoharle County National Bank, applt.; William Watson, admr., applt.; agt. city of Kingston, respdt.; William H. Connolly, an infant, respdt., age. Knickerbocker Ice Company, applt.; Willtam J. Cornley et al, respdts., agt. Henry Dazian, applt..; John F. Klumph et al, applts., agt. G. H. Gardner et al, respdts.; Edward R. Morse, respdt., agt. George H. Morrison, applt.; Town of Solon, applt., agt. Williamsburg Saving Bank. Judgment affirmed, with costs. New-York, Providence and Boston Railroad Company, respdt., agt. William P. Nixon, assignee, applt. Judgment reversed, and judgment absolute ordered in favor of defendants with costs. George F. Newhall, respdt., agt. William H. Apple. ton et al, applts.; John Powers, respdt., agt. city of Yonkers, applt. Judgment reversed, and new trial granted, costs to abide event. In the matter of the application of Charles Dennison et al., stock-holders of the Grocers' Bank of New-York, for the appointment of a receiver. Order affirmed, with costs. Following Is the day calendar of the Second Division for Wednesday: Nos. 412, 415, 416, 419, 424, 427, 428 and 429.