Bank of Syracuse - Syracuse, NY

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 23, 1885
Location: Syracuse, New York (43.048, -76.147)

Metadata

Model: gpt-5-mini
Short Digest: fb1cbc24

Response Measures

None

Description

Article (St. Paul Daily Globe, 1885-12-23) states 'The Bank of Syracuse, N. Y., failed.' No run is mentioned; bank is described as failed with assets and liabilities, implying insolvency and permanent closure. No receiver or reopening is reported in this item.

Events (1)

1. December 23, 1885 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Article states the bank 'failed' and lists nominal assets ($120,000) and liabilities ($60,000), indicating insolvency rather than a run or external cause.
Newspaper Excerpt: The Bank of Syracuse, N. Y., failed. The nominal assets are $120,000, and the liabilities $60,000.
Source: newspapers

Newspaper Articles (1)

1. December 23, 1885 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, December 23, 1885

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Article Text

TELEGRAPHIC SPARKS. Troops have removed nearly all the cattle from Oklahoma. Other cattlemen who have not paid their lease money will be expelled. Over $3,000,000 has been paid out at Winni< peg in liquidation of Northwestern rebellion claims. Mrs. Cornelia Winfield Scott, wife of Col. N. L. Scott, formerly of the United State army, and daughter of the late Lieut. Gen. Winfield Scott, died last night of paralysis at the University hospital, age 60 years. O'Ferral & Smith, manufacturers of agrik cultural implements at Piqua, O., have as signed, with liabilities of $30,000. Mrs. Georgina Newton has obtained in London a separation from her husband, he agreeing to pay her $2,500 a year during her life. Mr. Julius Newton is the German Jew who changed his name from Nathan when married. G. W. Lupton, wool merchant of Bradford, Eng., has failed for $300,000. Leger & Binfret, wholesale dry goods, Quebec, have suspended, with liabilities of $100,000. David A. Gage, a prominent Chicagoan, is dying. Six months ago he failed for $40,000. He was once city treasurer of Chicago, and was for a long time identified with the hotel business. The Bank of Syracuse, N. Y., failed. The nominal assets are $120,000, and the liabilities $60,000. A mortgage has been filed at Ellicott City, Mo., from the United Lines Telegraph company to the Farmers' Loan & Trust company of New York, to secure an indebtedness of $1,200,000. A fire this morning threatened to burn the town of Shelbyville, Tenn.. but it was got under control, with a loss of $12,000. It 18 reported that W. M. Clements, general superintendent of the New York, Pennsylvania & Ohio railroad, has been elected second vice president of the New York, Lake Erie & Western, to succeed Charles Paine, who is supposed to have accepted a position on the West Shore.