16997. National Exchange Bank (Troy, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
621
Charter Number
621
Start Date
December 6, 1877
Location
Troy, New York (42.728, -73.692)

Metadata

Model
gpt-5-mini
Short Digest
5e79aa49

Response Measures

None

Description

Multiple contemporary papers (Dec 1877) report the National Exchange Bank of Troy went into voluntary liquidation or has failed (reports cite the bank went into voluntary liquidation on the 6th). There is no explicit description of a depositor run in these excerpts — the cause appears to be voluntary liquidation/failure. Date for suspension/closure taken as 1877-12-06 as reported in articles.

Events (3)

1. December 13, 1864 Chartered
Source
historical_nic
2. December 6, 1877 Suspension
Cause
Voluntary Liquidation
Cause Details
Newspapers report the bank went into voluntary liquidation (reported as occurring on the 6th of December 1877); subsequently described as failed in multiple dispatches.
Newspaper Excerpt
The National Exchange Bank of Troy, N.Y., went into voluntary liquidation on the 6th.
Source
newspapers
3. December 6, 1877 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (6)

Article from The Daily Dispatch, December 7, 1877

Click image to open full size in new tab

Article Text

MISCELLANEOUS NEWS. reast BY TELEGRAPH TO THE DISPATCH FROM ALL QUARTERS. REV. JAMES H. ECCLESTON, OF NEWARK, N. J., ELECTED BISHOP OF THE NEW EPISCOPAL DIOCESE OF WEST VIRGINIABLAINE IN HIS SEAT-EUSTIS TO BE SEATED MONDAY-A WEALTHY NEW YORK IMPORTER SUICIDED AT THE FIFTH-AVENUE HOTEL YESTERDAY-THE NEW YORK CIGAR-MAKERS STRIKE-SUSPENSION OF THE NATIONAL EXCHANGE BANK AT TROY-EIGHT MEN CRUSHED TO DEATH BY A FALLING BUILDING AT ST. JOHN'S, N. B.-FRENCH NEWS, &c., &c.


Article from Lyon County Times, December 8, 1877

Click image to open full size in new tab

Article Text

Over one hundred Republican Senators and Representatives have signed a communication to the President recommending Packard for the P S1tion of Collector at New Orleans. A movement is on foot in Wash ington to induce the Government to purchase the Palace Hotel in San Francisco for use as a post office, military headquarters, etc. The Post, a new Democratic daily has been started in Washington. The Sioux Indians are murdering and plundering in every direction, and it is rumored that Deadwood City is completely invested. All the available troops have been ordered to the scene of the trouble. The German National Bank of Chicago has failed. All reports of a compromise between the President and Conkling seem to have been premature, as the indications are now that the Senator is determined to "carry the war into Africa." The House bill to authorize the free coinage of a standard dollar and to restore its legal tender character will come up in the Senate on Tuesday next as the special order of the day. It is rumored that the Mexicans will shortly make a grand raid into Texas for the purpose of sacking several American towns on the Rio Grande. General Sherman poohboohs the idea of such 11 raid, and the General is probably right. The reinforcements now on the way will increase General Ord's command to 5,000 men, three fifths of whom will be cavalry. The National Exchange Bank of Troy, New York, has gone into voluntary liquidation. Two well-known Comstock characters have "passed in their checks" at Deadwood, Black Hills. Sam. Curley shot Kitty Leroy through the heart and then blew out his own brains. They had been married five months, but lived uhappily. Lerdo withdraws all pretensions to the Mexican Presidency and recommends his friends to support General Escobedo for the position. Mr. Bowles is growing perceptibly weaker. The President on Thursday sent a considerable number of appointments to the Senate. The President has renominated the New York customs officers who fell by reason of the exuiration of the extra session of Congress. Senator Jones says a fair indication of the strength of the silver bill 10 the Senate is given by the vote of 40 to 18, making it the special order for next Thursday. He doubts the passage of the bill over the President's veto, however, in the Senate. By the fall of a new building in St. Johns, N. B., eight men were crushed to death. Gold closed yesterday at 102%. MacMahon has yielded to the popular will. At the council yesterday he accepted the resignations of the Ministry. M. Dufare has agreed to attempt the organization of a new Cabinet, which will probably occupy two or three days. The snow around Erzeroum is three


Article from Perrysburg Journal, December 14, 1877

Click image to open full size in new tab

Article Text

THE EAST. In the case of the People V8. ex-Comptroller Connolly, of the New York Tammany ring, the jury rendered a verdict on the 4th against the defendant for $8,000,000. The contest in the Vanderbilt will case has been resumed. The Wolfboro (N. H.) Savings Bank has closed. Depositors will lose about 15 per cent. President Gowen, of the Reading (Pa.) Road, informed the miners on the 4th that for every twenty-five cents advance in tolls and freight during the next year the minimum wages will be advanced 10 per cent. Cashier Boas, of the suspended Reading (Pa.) Savings Bank, has been arrested on the charge of embezzling over $25,000. The National Exchange Bank of Troy, N.Y., went into voluntary liquidation on the 6th. The New York branch of the German National Bank, of Chicago, has suspended. Commander Ryan, of the wrecked steamer Huron, was buried at Boston on the 6th. Ex-Congressman Burleigh, President of the South Berwick (Me.) National Bank, was killed on the 5th by his horse shying off the bridge over Salmon Falls River. The New Hampshire Democratic Convention will be held at Concord, Jan. 16. John C. Collins, alias Harvey N. Thorpe, was hung on the 7th at Auburn, N. Y., for the murder of a fellow-convict named Howard. The National Temperance Society at a special conference at New York on the 7th resolved to memorialize Congress for a commission to make careful and comprehensive inquiries about the liquor traffic and its physical, social and political effects; also, Christian journalists, ministers and physicians were requested to exhort those who entertain, at the approaching holiday season, to proffer no intoxicating beverages, and all to abstain from their use. On the night of the 6th, a fire at Millerstown, Pa., destroyed a large number of business houses and dwellings. Loss estimated at $200,000. The middle division of the Erie Canal was closed on the 7th. The case of the United States against exGov. Tilden, at New York, for alleged arrears of income tax, set for the 8th, was adjourned until the 22d. Robert L. Case, President, T. A. Wetmore, Vice-President, and I. H. Allen, Secretary, of the New York Security Life Insurance and Annuity Company, were again indicted on the 10th, this time for conspiracy, as security against their escape in other proceedings on technicalities. The Union League of America met in annual session at Philadelphia on the 10th. The annual report defends the President's Southern policy, commends his efforts to enforce the civil-service rules, and condemns the action of those who oppose him in the latter case.


Article from Essex County Herald, December 15, 1877

Click image to open full size in new tab

Article Text

SUMMARY OF NEWS. Eastern and Middle States At Pittsburg, Pa., six men were found guilty of taking part in the riots during the recent railroad war and were sentenced to various degrees of punishment, the lowest sentence being six months imprisonment in the workhouse and fine of $500, and the highest six years and ten months in the ponitentiary and a fine of $5,000. The president of the suspended Clairmont Savings Bank, of New York, charged by the receiver with perjury and other acts that will tuake him amenable to the civil and the criminal law. At Enfield. Mass, E. E. Cabot was bitten by & sat last September, and the other day he died from its effects. Oswego, N. Ý., the Congregational Church, and a house and barn adjoining, were destroyed by fire. Loss, about $14,000; insurance, 88,500. The suit of the city of New York against Richard B. Connolly, one of the ring robbers, terminated suddenly, by defendant's counsel confessing judgment, which was accordingly found against him. The suit was for the recovery of over $8,000,000. Pending an examination into its condition, the Wolfborough (N. H.) Savings Bank has been closed. Three miners, named Carroll, Quigley and Martin, were killed by the caving in of a section of the Mount Hope iron mine at Rockaway, N.J. At Reading, Pa., E. P. Boas, late cashier of the suspended Reading Savings Bank, was arrested on the charge of misappropriating the bank's funds. The dead body of Francis Copentt, a wealthy New York business man, was found in bed at his apartments on Fifth avenue, with the face lying in stew pan containing acids and chloroform. It is supposed he was suffocated while inhaling the chemical vapors with the intention of obtaining relief from the pain of 8 nasal cancer. Hon. John H. Burleigh, an t-Congressman, was killed at South Berwick, Me., by his horse going off bridge. The village of Millerstown, Pa., was partially destroyed by fire, several blocks in the business center going down before the flames. The New York police made raid upon the unlicensed liquor dealers of the city, and arrested over three hundred of them. Greenbaum Brothers & Co., New York bankers, have failed with liabilities estimated at $250,000. The National Exchange Bank of Troy, N. Y., failed. has Harvey N. Thorpe was hanged at Auburn, N. Y., for killing William E. Howard (colored) in September, 1876. The murderer and his victim were both convicts in the Auburn prison at the time the crime was committed. Allen Congdon, of Westfield, Mass., aged four years, died after three days' sickness, caused by the bite of a Spitz dog, received six weeks ago, and the doctors pronounced the case one of genuine hydrophobia. The board of education of New Haven Conn., have resolved, by vote of six to three, to dispense with religious services in the public schools The following are the Democratic pluralities for New York State officers as declared by the board of State canvassers Lieutenant-Governor- Beach, 11,264 Comptroller-Oleott, 36, 111 Attorney-General -Schoonmaker, 11,541 Treasurer- Mackin, 13,657; State Engineer Seymour, 85,164. As two men named Tower and Long were driving across a railroad crossing near Milford, Mass., their vehicle was struck by a passing train and one man was killed and the other fatally injured. Sunday, the 9th inst., was a memorable one in the history of liquor selling in New York. as the previous three days' excitement caused by the arrest of large number of liquor dealers for failures to produce licenses culminated in the arrest of several hundred more and the shutting up of all the saloons in the city. Western and Southern States. About two years ago Lyman Blackman, a farmer living near Beamington, Mich., deeded his farm to his son Henry, on condition that the latter should support his parents and his sister. The son failed to keep his agreement, whereupon his father started for Pontiac to take out the necessary papers revoking the deed. While he was away Henry quarrelled with his mother and sister and shot them both dead. after which he set fire to the house and barn. The murderer was arrested and lodged in jail at Pontiac. Benjamin F. Godfrey. aged nineteen, was engaged to be married to Miss Nellie E. Win ninger, both of Norfolk, Va. A quarrel arose between them, and the young lady refused the young man' company from church, whereupon he went to saloon, got drunk and procured a revolver Then he went to Miss Winninger residence and asked to see her. Upon her appearance in the hallway he raised the revolver and fired, instantly killing her, and then shot himself, inflicting mortal wound. The steamer Lotus, while on her way from the Red river to New Orleans, caught fire, and the passengers and crew were compelled to jump into the water to escape burning to death. Eight persons were drowned and two met death in the flames. The rest were picked up by a passing steamer. The town of Athens, Ohio, was partially destroyed by a fire, which began in bakery in the business part of the town. The total loss is $60,000, on which there is an insurance of about $6,000. The Indians in the Black Hills region completely surrounded the city of Deadwood, and a force of United States troops was sent to the relief of the people. The German National Bank of Chicago has failed. The directors announce that they will be able to pay depositors in full. William S. Bergen, who murdered Thomas J. McBride. hotel keeper, in June last, was hanged at Mount Vernon Ohio. When the drop fell the noose slipped and Bergen dropped heavily. half strangled. After fifteen minutes delay Bergen was again placed on the scaffold and this time was launched into eternity. Most of the business portion of Otsego Mich., was destroyed by a fire. A number of men who took part in the Balti more riots during the railroad war have beer sentenced to three and eight months' imprison ment. Applications have been made to have a re ceiver appointed for the German Savings Banl of Chicago. A detachment of the Eighth United State Cavalry entered Mexico in pursuit of a body o cattle thieves at d marauders, and after ter days' scout the soldiers came upon a camp o g Indian distillers of mescal. The troops charge g upon the camp, killing two Indians, wounding three more and putting the rest to flight. Th tents and other articles found in the camp wer a destroyed. Cochran & Fulton's whiskey house in Louis ville, Ky., caught fire and was destroyed, th burning whiskey running into the street and filling the gutters. Other buildings were dam aged also, and the loss inflicted amounts t several hundred thousand dollars At Fountain Bluff township, III., Charle Mulrich shot and instantly killed his wife an then blew his own brains out. Domestic dif ficulties led to the crime. From Washington. The public debt statement for Novembe shows decrease in the debt for the month o $1,323,634.63, and the following balances in th treasury Currency, $8,816,396.39 specia fund for redemption of fractionel currency $9,806,002 special deposit of legal tenders fo y redemption of certificates of deposit, $36,055, 000 coin (including coin certificates, $82, 391,400), $133,970,214.48 outstanding lega tenders, $351,340,288 amount due militar establishments $4,500,000. The payments made from the treasury b during the Novemer.


Article from The Lamoille News, December 19, 1877

Click image to open full size in new tab

Article Text

SUMMARY OF NEWS. Eastern and Middle States. Over three hundred liquor dealers in New York were arrested in one night because they could not produce & license to sell. Ex-Congressman John H. Burleigh askilled Me by his horse falling at South Berwick, from bridge. Two blocks in the business center of Millerstown, Pa., were destroyed by fire, and a large amount of property was burned. Greenbaum Brothers & Co., New York bankers, $250,000. have failed with liabilities estimated at The National Exchange Bank of Troy, N. Y., has failed. Harvey N. Thorpe was hanged at Anburn. N. Y., for killing William E. Howard (colored), in September, 1876. The murderer and his victim were both convicts in the Auburn prison at the time the crime was committed. Allen Congdon, of Westfield, Mass., aged four years, died after three days' sickness, caused by the bite of a Spitz dog. received six weeks ago, and the doctors pronounced the case one of genuine hydrophobia. The board or education of New Haven, Conn., have resolved, by a vote of 6 to 3, schools. to dispense with religious services in the public The following the Democratic plu alities for New York State officers as declared by the board of State canvassers Lieutenant-Gov. ernor Beach, 11,264 Comptroller- Olcott, 36.111; Attorney-General- Schoonmaker, 11,541 ; Treasurer-Mackin, 13,657 State EngineerSeymour, 35,164. As two men named Tower and Long were driving across a railroad crossing near Millford, Mass., their vehicle was struck by a passing train and one man was killed and the other fatally wounded Sunday, the 9th inst., wasa memorable one in the history of liquor selling in New York, as the previous three Gays' excitement caused by the arrest of a large number of liquor dealers for failures to produce licenses culminated in the arrest of several bundred more and the shutting up of all the saloons in the city. Much anxiety in New York on account of the failure to arrive in Liverpool of the ocean steamer City of Berlin, which was overdue a number of days. was allayed by a dispatch sin: that we missing steamer had arrived on the Irish coast in tow of another vessel. The delay was caused by a broken shaft. Mr. Charles F. Smith a former president of the Philadelpais and Reading Railroad Company, bas come out W th statement regarding the condition of the company, in which gross mismanagement and malpractice are charged, as well as the concealment of important facts from him and the stockholders. The miners employed by the Lehigh and Wilkesbarre Coal Company have had their wages reduced ten per cent. The New York baby show wound up by the distribution of prizes to the winning mothers and infants, at Steinway Hall. The mothers who did not win prizes were excluded from the hall by the manager. but they gathered before the building and loudly and vigorously protested, asserting that he had swindled them with promises which he did not keep. The manager discree escaped by a back door. Hon. Henry L. Pierce, the citizens' candidate, was elected mayor of Boston over Mr. Prince by 2,150 majority. The board of aldermen elected consists of six Republicans and six Democrats. Six prisoners escaped from the Kingston (N. Y.) jail by sawing the bolts and locks off the doors. The Homestead Fire Insurance Company of Watertown, N Y., has been ordered by the insurance superintendent of the State to close up its affairs, on account of a heavy impairment of its capital stock. A fire at Bethel, Vt, burned out several bus ness firms and private families. Damage, over $23,000; partially insured. A cat show has been opened,in New York. Western and Southern States. An election in Georgia resulted in the adopr tion of the new State constitution and the e selection of Atlanta as the permanent capital of the State Constable McElligott was serving a warrant f upon Alvina McGee, in Chicago, when she n seized revolver and fired upon the officer, ine flicting mortal wound, which caused death in a few hours. William D. Bergen, who murdered Thomas J. McBride. a hotel keeper, in June last, was e hanged at Mount Vernon, Ohio. When the drop fell the noose slipped and Bergen dropped heavily. half strangled. After fifteen minutes' le delay, Bergen was again placed on the scaffold and this time was launchedinto eternity. er Most of the business portion of Otsego. n Mich., was destroyed by a fire. as A number of men who took part in the Baltiid more riots during the railroad war, have been of ment. sentenced to three and eight months' imprisonDf Application has been made to have a red. ceiver appointed for the German Savings Bank of Chicago. at A detachment of the Eighth United States na Cavalry entered Mexico in pursuit of a body of de cattle days' thieves and marauders, and after a ten scout the soldiers came upon a camp of or Indian distillers of mescal. The troops charged is upon the camp, killing two Indians. wounding athree more and putting the rest to flight. The tents destroyed. and other articles found in the camp were ey ng Cochran & Fulton's whiskey house in Louis ville, Ky., caught fire and was destroyed, the burning whiskey running into the street and at filling the gutters. Other buildings were dam aged also, and the loss inflicted amounts to several hundred thousand dollars. At Fountain Bluff township, III., Charle Mulrich shot and instantly killed his wife and a then blew his own brains out. Domestic dif ficulties led to the crime. 10The official canvass of the vote in Wisconsin sy for governor shows the following results William A. E. Smith, Republican, 78,759 Jame es, Mallory, Democrat, 70,486 Edward P VAllis, Greenback, 26,216 Colin M. Campbell he Socialist, 2,176 J. C. Hall. Prohibitionist, 399 8 attering, 86 total, 178,122. by Hodge & Co., wholesale stationers of Sai ds Francisco, have failed with liabilities place at $280,000 and $240,000 in assets. 80 all A proposition has been made in the Ten nessee Legislature to fund the State debt a eat fifty cents, the new bonds to bear interes at four per cent. en the According to incomplete returns from th cotton-producing States the cotton crop thi ly, year will not be 80 large as last year, o en account of heavy rains and killing frosts. The suspension of the Simpson Bank ce, Lawrence, Kansas, the oldest banking house o dsthe place, is announced go The directors of the German American Ban ite of Chicago decided to suspend payment an go into liquidation. ned From Washington. an The President has again sent in for CO hey firmation New the names of the new officers of th York custom house, upon whose previous uld nominations The foller the Senate had failed to act. are


Article from The Abbeville Press and Banner, December 26, 1877

Click image to open full size in new tab

Article Text

NEWS SUMMARY. Eastern and Middle States. The Congregational Ciurch and an adjoining house and barn, atOswego, N. Y., were burned to the ground. The loss is about $14,000 and the insurance $8500. Richard B. Connolly, one of the notorious Tweed ring thieves, wa sued by the city of New York to recever $,000,000, and the case came to a sudden end ly defendant's counsel. confessing judgment. Robert Carroll and tw other miners, named Quigley and Martin, were instantly killed by the caving in of a section of the Mount Hope iron mine at Rockawsy, N. J. The Wolfborough N. H.) Savings Bank has been closed, pending an examination of its condition. E. P. Boas, latecashier of the suspended Reading Savings B.nk, of Reading, Pa., was arrested on the charge of misappropriating the funds of the instituton. Francis Copcutt, a wealthy New York importer, was found dead in his apartments on Fifth avenue, with lis face thrust into a stew pan containing acios and chloroform. It is believed that he W8 treating himself for a nasal cancer, and vas suffocated before he could summon assistance. The New York striling cigarmakers have determined upon startng a co-operative factory in competition with tie employers. Hon. John H. Burbigh, an ex-Congressman, was killed at South Berwick, Me., by his horses going off a bridge. The village of Millerstown, Pa., was partially destroyed by fire, several blocks in the business center going down before the flames. The New York police made a raid upon the unlicensed liquor dealers of the city, and arrested over three hundred of them. Greenbaum Brothers & Co., New York bankers. have failed with liabilities estimated at $250,000. The National Exchange Bank of Troy, N. Y., has failed. Harvey N. Thorpe was hanged at Auburn, N. Y., for killing William E. Howard (colored), in September, 1876. The murderer and his victim were both convicts in the Auburn prison at the time the crime was committed. Allen Congdon, of Westfield, Mass., aged four vears, died after three days' sickness, caused by the bite of a Spitz dog, received six weeks ago, and the doctors pronounced the case one of genuine hydrophobia. The board of education of New Haven, Conn., have resolved, bya vote of six to three, to dispense with religious services in the public schools. The ocean steamer City of Berlin, from New York for Liverpool, failed to arrive at her destination on time, and the anxiety occasioned by her non-arrival was allayed only by a cable dispatch stating that she had reached the coast of Ireland in tow of another vessel. A broken shaft was the cause of her delay. The miners at the mines of the Lehigh and Wilkesbarre Coal Company have had their wages reduced ten per cent. The men accepted the reduction. Ex-President Charles E. Smith, of the Philadelphia and Reading Railroad Company, has made public a statement alleging gross mismanagement in the affairs of the company, and the concealment of important facts from him and the stockholders.