Article Text
Failure of a National Bank. NEW YORK, July 27.-The National Bank of Unadilla, Oteego County, New York, is reported as having failed with liabilities estimated at $200.000. The cause is assigned to speculation in produce and stocks.
17001. National Unadilla Bank (Unadilla, NY)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 1463
- Charter Number
- 1463
- Start Date
- July 27, 1867
- Location
- Unadilla, New York (42.325, -75.312)
Metadata
- Model
- gpt-5-mini
- Short Digest
61799c90
Response Measures
None
Receivership Details
- Depositor recovery rate
- 45.9%
- Date receivership started
- 1867-08-29
- OCC cause of failure
- Losses
- Share of assets assessed as good
- 19.0%
- Share of assets assessed as doubtful
- 36.1%
- Share of assets assessed as worthless
- 44.9%
Description
Multiple contemporaneous newspaper dispatches (late July 1867) report the National Unadilla Bank 'failed' or 'suspended' with liabilities ~$200,000; cause attributed to speculation in produce and stocks (bank-specific adverse activity). Treasury/Comptroller notices (Aug. 26, 1867) name Lewis Kingsley as Receiver, indicating the bank was placed in receivership and did not reopen. OCR variants of Otsego/Ostego county corrected to Otsego.
Events (4)
1.
July 17, 1865
Chartered
- Source
- historical_nic
2.
July 27, 1867
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Failure attributed to speculation in produce and stocks by officers/interests of the bank leading to insolvency.
- Newspaper Excerpt
- The National Bank of Unadilla, Otsego county, New York, is reported as having failed with liabilities estimated at $200,000. The cause is assigned to speculation in produce and stocks.
- Source
- newspapers
3.
August 26, 1867
Receivership
- Newspaper Excerpt
- Notice is hereby given to all persons who may have claims against 'The National Unadilla Bank,' N.Y., that they are called upon to present the same ... to LEWIS KINGSLEY, Receiver of said Bank, at the office of said bank in Unadilla, N. Y. H. R. HULBURD, Comptroller of the Currency.
- Source
- newspapers
4.
August 29, 1867
Receivership
- Source
- historical_nic
Newspaper Articles (14)
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Article Text
National Bank Suspension. NEW YORK, July 27.-The National Bank.of Unadilla, Otsego county, New York, is reported as having failed, with 11. bilities estimated at $200,000. The capital is $150,000. The cause of the failure is attributed to speculation in pro. duce and stocks.
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Bank Failure. NEW YORK, July 27. The National Bank of Unadilla, Otsego county, N. Y., is reported as having failed, with liabilities estimated at $200,000. Capital $150,000. The cause is assigned to speculation in produce and stocks. NEW YORK, July 28. The liabilities of the suspended Unadilla National Bank are estimated at $200,000. The President, it is said, owns $100,000 of the capital and the *balance was in the hands of the Cashier and some relatives at Albany. The reported assets of the Bank will not go far towards meeting its liabilities.
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Currency and the National Banks. The following list embraces some of the suspensions and failures of National Banks since January, 1867:March 2.-The National Bank of Newton, Mass., failed with liabilities amounting to $110,000. March 2.-The National Bank of Hudson, N. Y., discovered an embezzlement by the cashier to the amount of $50,000. The concern revived after several weeks' suspension, and resumed business. March 4.-First National Bank of Medina, Mo., failed with liabilities of $82,000. March 4.-The Mechanics' National Bank of Baltimore broke down from the effects of a series of defalcations, carried on for a long time by two officers of the institution. July 25.-The Weedsport (Cayuga county) National Bank closed doors, its liabilities being $125,000. July 26.-The National Bank of Unadilla, Otsego county. failed, its liabilities being $200 000. July -The Pequonnock National Bank of Bridgeport, Connecticut. suspended business, and offered a reward of $500 for the fugitive cashier, W. Hamilton Barnum, who absconded with $50,000. In the above brief statement the reasons for the difficulties of the National Banks in question are too lamentably obvious to need further comment.-N. Y. World.
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Suspension of a National Bank. NEW YORK, July 27.-The National Bank of Unadilla, Ostego county, New York is reported A8 having failed, with liabilities estimated at $200,000. The capital is $150,000. The cause of the failure 18 assigned to speculation in produce and stocks. NEW ORLEANS, July 9.-Governor Flanders returned to this city last evening. Five deaths from yellow fever and seventeen from cholera occurred last week. The weather is clondy, with light showers. General Berrizobal is having earthworks around Matamoras leveled and the ditches filled up. Fort Callegio, commanding the road from Brownsville, is already gone. Nine forts are also in be razed. These forts were built by the French and General Mejia. ST. Lours, July 29.-A despatch from Ellsworth, Kansas, three miles from Fort Harker. says there were fifteen cases of cholera there on Saturday and five deats. The town is almost deserted, and those who remain in it expect an Indian raid.
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Failures and Suspensions of National Banks. The following list embraces some of the suspensions and failures of National Banks in the Northern States since March 1, 1867: March 2.-The National Bank of Newton, Mass failed with liabilities amounting to $110,000. March 2.-The National Bank, of Hudson, N. Y), discovered an embezzlement by the cashier to the amount of $50,000. The concern revived after several weeks suspenson, and resumed business. March 4-First National Bank of Medina, Mo.. failed with liabilities of $82,000. March 40-The Merchants National Bank of Baltimore, broke down from the effects of a series of defalcations, carried on for a long time by two officers of the institution. July 25.-The Weedsport Bank (Cayuga county) National Bank closed doors, its liabilities being $125,000. July 26.-The National Bank of Unandilla, Otsego county, failed, its liabilities being $200,000.
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CURRENCY AND THE NATIONAL BANKS.-The following list embraces some of the suspensions and failures of National Banks since January, 1867: MARCH 2.-The National Bank of Newton, Massachusetts, failed, with liabilities amounting to $110,000. The National Bank of Hudson, New York, discovered an embezzlement by the cashier to the amount of $50,000. The concern revived after several weeks suspension, and resumed business. MARCH 4.-First National Bank of Medina, Missouri, failed, with liabilities of $82,000. The Mechanics' National Bank of Baltimore, broke down from the effects of a series of defalcations, carried on for a long time by two officers of the institution. JULY 25.-The Weedsport (Cayuga County) National Bank closed doors, its liabilities being $125,000. JULY 26.-The National Bank of Unadilla, Otsego County, failed, its liabilities being $200,000. JULY 27.-The Pequonnock National Bank of Bridgeport, Connecticut, suspended business and offered a reward of $500 for the fugitive cashier, W. Hamilton Barnum, who absconded with $50,000.
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-Chicago is eating frogs voraciously this season, and has already consumed 100,000, with the expectation of tripling the number next year. At the Southern House and leading hotels they are regularly announced on the bill of fare, and readily accepted as a relief from the detestable "blue beef." -Longfellow always sends to the printer very clear copy. His MSS. are all written in lead pencil upon large sheets of a good quality of book-paper each sheet contains never more than two four line verses. The manuscript of his translation of Dante, if bound would make several immense volumes. -The loss by the suspension of the National Bank of Unadilla, N. Y., will be somewhere between a quarter and half a million dollars, and the assets of the concern will not yield ten cents on a dollar. All the hard earned savings of poor people in the town and vicinity are gone, and the excitement is great. Speculation of the most loose and unguarded character was the cause of the failure. -The Japanese in Paris have taught the cooks at the Grand Hotel how to "bake" ice creams. Freeze your ice as hard as possible, wrap it quickly in a very thin crust of pastry and put it in the oven. The pastry will be baked before the ice cream melts (for the pastry is a good non-coductor of heat;) serve hot and you may enjoy the pleasure of eating hot pastry and ice cream at the same time. -Do not watch your feelings. They are no guide to go by. Do not think a cause you do not feel right this morning that you are far from God, or because you do do feel right that you are near to God. You cannot judge of your state by watching your emotions. You are to judge of your condition by the whole carriage and direction and flow of your life. If you are going toward God, you will know it; if you are living a life of benevolence, you will know it; if you are in the daily performance of your duty, you will know it; and that is enough. Take the whole course, take the journey's drift, and not any particular stage. This is a thousand times better than any other method.
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MASONIC-WASHINGTON CENTENIC NIAL LODGE, NO 14, F. A. A. M.-A Special Communication of the Lodge will be held on WEDNESDAY EVENING. 11th instant, at 71/2 clock, the Regular Communication having been dispensed with in consequence of the death of Bro. GEORGE C. WHITING. M. W. Grand Master. se10-1t THOS. THOMPSON, Sec'y. SEPTEMBER 7TH, 1867, Washington D.C. IC The CAMP MEETING at Goodhope will continue until the 14th or 15th. if nothing happens. s7-3t* REV. W. H. WATERS. Pastor. TREASURY DEPARTMENT. IC Office of Compivoller of the Currency, WASHINGTON, August 26, 1837. Notice is hereby given to the holders of the cir culating notes of The National Unadilla Bank." N Y. that such notes will be paid in lawful money of the United States upon presentation of the same to the Treasury of the United States. H. R. HULBURD, au27-T.It Comptroller of the Currency. TREASURY DEPARTMENT. Office of Comptroller of the Currency. WASHINGTON. Aug. 26, 185. Notice is hereby given to all persons who may have claims against The National Unadilla Bank,"N Y. that they are called upon to present the same. and to make legal proof thereof, to LEWIS KINGSLEY. Receiver of said Bank, at the office of said bank in Unadilla, N. Y H. R. HULBURD, au 27 7.13t Comptroller of the Currency.
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WORKINGMEN'S ASSEMBLY. - THE WORKINGMEN'S ASSEMBLY will meet in regular session at 8 o'clock, WEDNESDAY EVENING, September 18th, in Council Chamber, City Hall. JAMES H. REED, It Recording Secretary. THE WASHINGTON CO-OPERATIVE BUILDING ASSOCIATION.-There will F be a meeting to organize the above-named association on TUESDAY EVENING. 17thinst.. at TEMPERANCE HALL on E street, between 9th and and 10th. Its object is to enable men of lesser means to obtain money for building and other purposes at lower rates than from any other source. It will be to the advantage of those who wish to join to be present at the meeting. Meeting called at 7 o'clock. sel2-5t TREASURY DEPARTMENT. Orfice of Comptroller of the Currency. W ASHINGTON, eptember 10. 1867. Notece is hereby given to the holders of the circulating notes of The Farmers and Citizens' National Bank of Brooklyn," New York, that such notes will be paid in lawful money of the United States upon presentation of the same at the Treasury of the United States. H. R. HULBURD, se 11-w13t Comptroller of the Currency. TREASURY DEPARTMENT. Office of Comptroller of the Currency. WASHINGTON, September 10. 1857. Notice is hereby given to all persons who may have claims against the "Farmers and Citizens National Bank of Brooklyn. New York. that they are called upon to present the same and make legal proof thereof to FREDERICK A. PLATT. R ceiver of said Bank, at the office of said Bank, in the city of Brooklyn, New York. H. R. HUBBURD, sell-w13t Comptroller of the Currency. TREASURY DEPARTMENT. LE Office of Comptroller of the Currency, WASHINGTON, August 26, 1867. Notice is hereby given to the holders of the circulating notes of The National Unadilla Bank, N.Y., that such notes will be paid in lawful money of the United States upon presentation of the same to the Treasury of the United States. H. R. HULBURD, au27-T.4t Comptroller of the Currency. TREASURY DEPARTMENT. Office of Comptroller of the Currency, WASHINGTON, Aug. 26, 1857. Notice is hereby given to all persons wno may have claims against "The National Unadilla Bank, N. Y., that they are called upon to present the same, and to make legal proof thereof, to LEWIS KINGSLEY. Receiver of said Bank, at the office of said bank in Unadilla, N. Y. H. R. HULBURD. an 27-T.13t Comptroller of the Currency. PUBLIC SCHOOLS.-At the last meeting of the Board of Trustees of Public Schools the following resolution was adopted: Resolved. That the following places be designated as offices for the transaction of all the Public School business by the respective Sub-Boards of Trustees : For the Sub-Board, First District. (First and Second Wards)-School-room, corner 14th and G streets. For the Sub-Board, Second District. (Third and Fourth Wards)-School-room on H, between 6th and 7th streets. For the Sub-Board, Third District. (Fifth and Sixth Wards)-Wallach School Building, and School-room corner 3d street east and A street south. For the Sub-Board, Fourth District, (Seventh Ward)-Male Grammar School-room, John E. Thompson, teacher, on 6th street. The Trustees will be in attendance at the abovenamed places from 8 to81/2 o'clock on each morning of the week, from Monday to Friday, inclusive, during the month of September; and all persons entitled to tickets of admission to the Public Schools designated. can procure them at the places and times Бу order of the Board. au 31-1m R.F. BOISEAU, Sec.
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TREASURY DEPARTMENT Office of Comptroller of the Currency. WASHINGTON Aug 26,1867 Notice is hereby given to all persons who may have claims against "The National Unadilla Bank. N. Y that they are called upon to present the same. and to make legal proof thereof. to LEWIS KINGSLEY. Receiver of said Bank, at the office of said bank in Unadilla, N Y. H R. HULBURD. au 27 T .13t Comptroller of the Currency,
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TREASURY DEPARTMENT. Office of Comptroller of the Currency. WASHINGTON. Aug. 26. 1867 Notice is hereby given to all persons wno may have claims against "The National Unadilla Bank. " N. Y., that they are called upon to present the same. and to make legal proof thereof. to LEWIS KINGSLEY. Receiver of said Bank. at the office of said bank in Unadilla, N. Y. W R. HULBURD. an 27-T.13t Comptroller of the ( currency.
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TREASURY DEPARTMENT. IC Office of Comptroller of the Currency, WASHINGTON, Aug. 26, 1867. Notice is hereby given to all persons wno may have claims against "The National Unadilla Bank, " N. Y., that they are called upon to prese nt the same. and to make legal proof thereof, to LEWIS KINGSLEY, Receiver of said Bank, at the office of said bank in Unadilla, N. Y. H. R. HULBURD, au 27 T.13t Comptroller of the Currency.
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THE BEST ASSOCIATION FOR INVESTMENTS. AND THE CHEAPEST AND MOST CERTAIN FOR LOANS. SAFE, CERTAIN, AND RELIABLE. All stockholders participate in the advantages of this Association. No initiation fee is required. The limitations of the per cent. at which adV80068 are made prevent loans for purposes of mere speculation, and add certainty to the op portunities wanted. of borrowers obtaining money when Subscription Books for Stock in this Associa tionare now open st the following-named places, to wit: HORATIO BROWNING, President, 353 PennBy lvania avenue. near Sixth street. II. 0. HOOD, Treasurer, 335 Pennsylvania aveme, near Ninth street. E. W. CLARK, Jr. Secretary, 444 Fourteenth street, near New York avenue. Certificates of stock will be at once issued to all shareholders. Payments on account of stock will be received at either of the above-named places until the next I' gular monthly meeting, A large number of shares have already been ta. ken. and persons desirous of obtaining stock should come forward at once. Printed Constitutions may be obtained at any of the above-bamed places. HORATIO BROWNING, Presindent. 09-tf E. W. CLARK, Jr., Secretary. TREASURY DEPARTMENT. Octive of Comptroller of the Currency, WASHINGTON, September 10, 1867. Notoce is hereby given to the holders of the circulating notes of The Farmer and Citizens! National Bank of Brooklyn, New York, that such notes will be paid in lawful money of the United States upon presentation of the same at the Treasury of the United States. H.B.HULBUR D. sell-w13t Comptroller of the Currency. TREASURY DEPARTMENT. IF Office of Comptroller of the Currency, WASHINGTON, September 10, 187. Notice is hereby given to all persons who may have claims against the "Farmers and Citizens' National Bank of Brooklyn, New York, that they are called upon to present the same and make legal proof thereof to FREDERICK &, PLATT. Receiver of said Bank, at the office of said Bank, in the city of Brooklyn, New York. H. R. HULBURD. sell-w13t Comptroller of the Currency. TREASURY DEPARTMENT. Office of Comptroller of the Currency, WASHINGTON, Aug. 26, 1801. Notice is hereby given to all persons who may have claims against "The National Unadilla Bank, N. Y., that they are called upon to pres. at the same. and to make legal proof thereof, to LEWIS KINGSLEY. Receiver of said Bank, at the office of said bank in Unadilla. N.Y. M. B. HULBURD, an 27-T .13t Comptroller of the Currency. TREASURY DEPARTMENT. 13 Office of Comptroller of the Ourrency, WASHINGTON, October 7. 187. Notice is hereby given to the holders of the Circulating Notes of The Crotom National Bank, o the city of New York, that such Betes will be paid in lawful money of the United States upon presen tation States. of the same at the Tressury of the United JNO. jay KNOK, c8-tul3t Dept. and Act'g Comptroller. TREASURY DEPARTMENT. IF Office of Comptrailerly the Currency, ASHINGTON. October?, 1867. Notice la hereby given to all persons who may have claims against The Creton National Bank, of the city of New York, that they are called upon to present the same: and to make fegal thereof, to C. P. Bailey, Keg. Receiver ofseld Bank, at the office of said bank, throity of New York. JNO. JAY KNOK, OC 8-T131 Dept and dot's Comptroller.