16973. New York State Banking Company (Syracuse, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
September 18, 1902
Location
Syracuse, New York (43.048, -76.147)

Metadata

Model
gpt-5-mini
Short Digest
527c7cd2

Response Measures

None

Description

All articles report that Chief Bank Examiner George S. Leonard, under direction of the Superintendent of Banks, took charge of and closed the New York State Banking Company on Sept 18, 1902 because of heavy losses tied to notes of the Onondaga Dynamo Company. No run or depositor crowding is described in these items; the action is a government-ordered suspension and the accounts indicate the bank was closed (examiner expected another bank to take up the business rather than immediately appoint a receiver).

Events (1)

1. September 18, 1902 Suspension
Cause
Government Action
Cause Details
Closed by state Superintendent of Banks Kilburn/Chief Examiner Leonard after heavy losses on notes of the Onondaga Dynamo Company which failed the prior week; examiner took charge and suspended payments/closed doors on Sept. 18, 1902.
Newspaper Excerpt
Chief Bank Examiner George S. Leonard ... took charge of the New York State Banking Company and closed its doors.
Source
newspapers

Newspaper Articles (11)

Article from Evening Star, September 18, 1902

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Article Text

NEW YORK BANK IN TROUBLE. Syracuse Institution Closed by the State Examiner. SYRACUSE, N. Y., September 18.-Chief Bank Examiner George S. Leonard, today, under directions from Superintendent of Banks Kilburn, took charge of the New York State Banking Company and closed its doors. The bank is in trouble owing to the notes of the Onondaga Dynamo Company of this city, which failed last week. President D. A. Bonta, said: "It is impossible for me to-make a statement to the public at this time. The bank has experienced large and unexpected losses, but the action of Superintendent Kilburn is a surprise to me." The examiner expects to have another bank take up the business rather than put the bank in receiver's hands. The last statement of the bank showed resources, $676,761; liabilities, $620,633, with a surplus of $20,000 and undivided profits of $36.000. The capital is $100,000. The bank was founded in 1852.


Article from The Seattle Star, September 18, 1902

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ITS CLOSES DOORS STRACUSE, Sept. 18.-The doors of the New York State Banking Company were closed this morning by order of the state superintendent of banks. The reason given for the compulsory suspension is a recent heavy loss, which may ultimately amount to a half million.


Article from The Providence News, September 18, 1902

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Article Text

BANK S DOORS CLOSED New York State Banking Company of Syracuse Is in Financial Straits. Syracuse N. Y., Sept. 18.-Chief Bank Examiner George S. Leonard this morning under direction from Superintendent of Banks Kilburn took charge of the New York State Banking company and closed its doors. The bank is in trouble owing to notes of the Onondaga Dynamo Co. of this city, which failed last week. President R. A. Bonta said: "It is impossible for me to make a statement to the public at this time. The bank has experienced large and unexpected losses but the action of Supt. Kilburn is a surprise to me." Examiner Leonard said he thought it would be possible within 48 hours to issue a statement which would show the bank's condition. He expects to be able to have another bank take up the bustness rather than put the bank in receivers' hands. The last statement of the bank, issued on Sept. 6. showed resources $676,761, liabilities $620,683, surplus of $20,000 and undivided profits of $36,000. The capital is $100,000. The bank was founded in 1852.


Article from Waterbury Democrat, September 18, 1902

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Article Text

BANK EXAMINER IN CHARGE Closed the Doors of a Syracuse Bank To-Day. Trouble Caused By Notes of a Company Which Failed a Week AgoThe Examiner Will Issue a Statement Soon As Possible and Give the Bank's Business to Some Other Concern Rather Than Have a Receiver Appointed Syracuse, N. Y., Sept 18.-Chief Bank Examiner George S. Leonard, this morning, under directions from Superintendent of Banks Kilburn, took charge of the New York State Banking company and closed its doors. The bank is in trouble owing to notes of the Onondaga Dynamo company of this city which failed last week. President R. A. Bonta said: "It is impossible for me to make a statement to the public at this time. The bank has experienced large and unexpected losses; but the action of Superintendent Kilburn is a surprise to me." Examiner Leonard said he thought it would be possible within 48 hours to issue a statement which would show the bank's condition. He expects to be able to have another bank take up the business rather than to put the bank in receiver's hands. The last statement of the bank issued on September 6th showed resources $670,761, liabilities $620,633, surplus of $20,000 and undivided profits of $36,000. The capital is $100,000. The bank was founded in 1852.


Article from The Topeka State Journal, September 18, 1902

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Article Text

OLD BANK FAILS. One at Syracuse, N. Y., Founded in 1852 Closes Its Doors. Syracuse, N. Y., Sept. 18.-Chief Bank Examiner G. S. Leonard today under directions from Superintendent of Banks Kilburn, took charge of the New York State Bank company and closed its doors. The bank is in trouble owing to notes of the Onondaga Dynamo company of this city, which failed last week. President D. A. Bonta said: "It is impossible for me to make a statement to the public at this time The bank has experienced large and unexpected losses; but the action of Supt. Kilburn is a surprise to me." The examiner expects to be able to have another bank take up the business rather than put the bank in receiver's bands. The last statement of the bank showed resources $676,761; liabilities, $620,633, with a surplus of $20,000 and undivided profits of $36,000. The capital is $100,000. The bank was founded in 1852.


Article from Deseret Evening News, September 18, 1902

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Article Text

Bank Examiner Takes Charge. Syracuse, N. Y., Sept. 18.-Chief Bank Examiner George S. Leonard today. under directions from Superintendert of Banks Kilburne, took charge of the New York State Banking company and closed its doors. The bank is in trouble owing to notes of the Onondaga Dynn. mo company of this city, which failed last week. Prest. D. A. Bonta said: 'It is impossible for me to make a statement to the public at this time. The bank hasexperienced large and unexpected losses: but the action of Supt. Kilburne is a surprise to me." The examiner expects to be able to have another bank take up the busi. ness rather than put the bank in receivers' hands. The last statement of the bank showen resources $676,761; liabilities $620,633. with a surplus of $20,000 and undivided profits of $36,000. The capital is $100.000. The bank was founded in 1852.


Article from New-York Tribune, September 19, 1902

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Article Text

SYRACUSE BANK IN TROUBLE. NEW-YORK STATE BANKING COMPANY CLOSED BY SUPERINTENDENT KILBURN. Syracuse, Sept 18.-George S. Leonard. chief bank examiner, this morning. under directions from Superintendent Kilburn, took charge of the New-York State Banking Company and closed Its doors. The bank is in trouble owing to notes of the Onondaga Dynamo Company. of this city, which failed last week. President R. A. Bonta said the bank had experienced large and unexpected losses. but the action of Superintendent Kilburn was a surprise to him. Mr. Leonard expects to be able to have another bank take up the business rather than put the bank in receivers' hands. The last statement of the bank, issued on September 6, showed resources $676,761 09 and liabilities $620,633 65, with a surplus of $20,000 and undivided profits of $36,000. The capital is $100,000. The bank was founded in 1852. The bank is the depository for the New-York State branch of the C. M. B. A. The funds. however, are sent to New-York twice a week and the amount on deposit here is small.


Article from The Indianapolis Journal, September 19, 1902

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Article Text

CLOSED BY THE EXAMINER. New York State Banking Company of Syracuse Forced to Suspend. SYRACUSE, N. Y., Sept. 18.-Chief Bank Examiner G. S. Leonard to-day, under directions from Superintendent of Banks Killburn, took charge of the New York State Banking Company and closed its doors. The bank is in trouble owing to notes of the Onondaga Dynamo Company of this city, which failed last week. President D. A. Bonta said: "It is impossible for me to make a statement to the public at this time. The bank has experienced large and unexpected losses, but the action of Superintendent Killburn is a surprise to me." The examiner expects to have another bank take up the business rather than to put the bank in a receiver's hands. The last statement of the bank showed resources of $676,761; liabilities, $620,633, with a surplus of $20,000 and undivided profits of $36,000. The capital is $100,000. The bank was founded in 1852.


Article from The Salt Lake Herald, September 19, 1902

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Article Text

LOADED DOWN WITH NOTES Syracuse, N. Y., Bank Unable to Pay Creditors. Syracuse, N. Y., Sept. 18.-Chief Bank Examiner George S. Leonard today, under directions from Superintendent of Banks Kilbourne, took charge of the New York State Banking company and closed its doors. The bank is in trouble owing to notes of the Onondaga Dynamo company of this city, which failed last week. President D. A., Bonta said: "It is impossible for me to make a statement to the public at this time. The bank has experienced large and unexpected losses; but the action of Superintendent Kilbourne is a surprise to me." The examiner expects to be able to have another bank take up the business rather than put the bank in receiver's hands. The last statement of the bank showed resources, $676,761; liabilities, $620,633, with a surplus of $20,000 and undivided profits of $36,000. The capital is $100,000. The bank was founded in 1852.


Article from The Guthrie Daily Leader, September 19, 1902

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Article Text

BANK EXAMINER IN CHARGE. Closes the Doors of New York State Banking Company. I (By Associated Press.) Syracuse, N. Y., Sept. 19.-The bank examiner yesterday, took charge of the New York State Banking company and closed its doors. The bank is in trouble owing to the notes of the Onondaga ynamo company, of this city, which failed last week. The examiner expects to be able to have another bank take up the business, rather than put into a receiver's hands. The last statement showed resources of $676,761, liabilities, $620,633.


Article from Adams County News, September 24, 1902

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Late Items. Sunday was a day of funerals in Birmingham, the remains of 78 victims of in Shiloh the various for terred the panic in church cemeteries being inaround are leaving negroes Many people the city. Colon and Panama for fear of rebel attacks. The revolutionists are massing on the railroad of the Isthmus. Many liberal sympatizers are imprisoned for appearing on the streets. Peter Olson, who shot and killed his sweetheart, Mary Peterson, in Omaha September 8, was killed recnetly in a fight with posse three miles north o Bancroft, Neb. President Mitchell can call upon the actors' union anywhere for a benefit performance. The new South African colonies are to be assessed a half a billion dollars for war expenses. Shaw has announced that the week he has the on round during distirbution Secretary numbers Autorized of ten dollars in public among the the country million banks throughout fds which have bonds available for security. Two presons were killed and 44 injured in a recent wreck on the Baltimore & Ohio Southwestern road at Leesburg, Ohio. Baltimore secured the next sovereign grand lodge of Odd Fellows. Marie Henriette, queen of the Belgians is dead Neither her husband, members of her family nor majesty's doctor were present at the time of her death. Two members of her suit were with the queen during her last moments. There is a movement in the intiment circle of Kruger's friends to send him to South Africa. The postoffice building at Minot, N. D. collapsed recently and is a total wreck. With the single exception of flax seed for the season are that country proRussia's the largest crops present ten. has duced in any year in the last Chief Bank Examiner Geo. S. Leonard has taken charge of the New York Banking company in Syracuse, and closed its doors. Prompted by jealously, A. E. Whitshot W. comb of Chicago and H. Mrs. Sampson Elizaof Battle Creek, Mich., beth Nettler of Chicago at Sampson's home and shot himself through the head. Both men are dead and the woman will live. The immigration fever of the Jews of Roumania still continues, and that within the last three months 4000 Jews have left the country for the United States and Canada. One of the most sensational and dramatic incidents that ever took place in bull ring in Mexico occurred reat Chihuahua, a cently a when tremenbull that had been goaded into an eight landed the spectators madness dous among leaped foot occupying fence and the seats. was a mad of the populace to escape stampede reserved There The bull fin- the maiming or death. was ally shot by young ranchero. General Knox has returned to after his conferred rewhere Atttorney Washinggton he with trip officials to Paris, garding the sale of the Panama canal property to the United States. A onew world's record at wing shoot ing with rifles has been established by Adolph Toepperwein, of San Antonio Texas. He broke 986 out of 1000 clay targets thrown from traps. Unless an eight hour working day is granted in the flour mills of Minneaa strike will go into effect SepThe mills polis tember 29. barrels of Minneapolis of flour produce 16,000,000 or nearly two fifths of the total output of the country, yearly. William S. Stratton, the multimillionaire of Colorado Sprins, Col. owner of the famous Independencies mine in the Cripple Creek distriact, is dead after an illness of several months. Monday started the nineteenth week of the coal strike. Ontario, Tommy Ryan Carter knocked At Fort out Erie, "Kid" of Brooklyn in the last minute of the sixth round. A gas and powder explosion occurred in Norfolk, .Va., recently in the Big Four as the result James an engineer; mine, Leiter, John of which Reickie, a miner, and a number of colored miners are known to be imprisoned. John Larson, a carman at the Butte Boston smelter at Butte, was smoth-