17012. First National Bank (Utica, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
1395
Charter Number
1395
Start Date
October 10, 1867
Location
Utica, New York (43.101, -75.233)

Metadata

Model
gpt-5-mini
Short Digest
3c931522

Response Measures

None

Description

Multiple contemporary newspapers (Oct–Nov 1867) list the First National Bank of Utica, N.Y. as having suspended and passed into the hands of receivers. No articles mention a depositor run prior to suspension. Therefore this is a suspension that resulted in receivership (permanent closure).

Events (3)

1. July 7, 1865 Chartered
Source
historical_nic
2. October 10, 1867 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Listed as suspended and passed into the hands of Receivers, implying insolvency/financial failure of the bank; no run or external shock mentioned in these notices.
Newspaper Excerpt
The following National Banks have passed into the hands of Receivers: ... First National Bank, Utica, N. Y.
Source
newspapers
3. September 8, 1926 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (6)

Article from The Wheeling Daily Intelligencer, April 18, 1867

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Article Text

Miscellaneous. Money is reported easier at New York at 5 @6 per cent., quotations do not show a revival of business confidence. There is a timidity and laggardness in prices, save in exceptional articles, that is quie obvious. The application of the New York banks for remission of the monthly tax of 1-24th of 1 per cent. upon their undistributed surplus has been passed upon by the Treasury Department, which, by way of compromise, refuses to pay the taxes already paid, but yields the point to the banks so far as future assessments are to be affected. The notes of National Banks that are winding up, and of those that have failed, are at a premium in New York. Those banks that have not obtained their full share of currency can use such notes in obtaining more. It is not often that the notes of broken banks are worth more than those of solvent institutions. The following banks are quoted 2 per cent, premium: Venango National Bank, Franklin, Pa.; Merchants' National Bank, Washington, D. C.; Tennessee National Bank. Memphis, Tenn.; First National Bank, Utica, N. Y.; First National Bank, Medina, N. Y.; First National Bank, Columbus, N. Y.; First National Bank, Carondelet, Mo. Of the temporary financial trouble in Richmond an exchange says: The tears of a monetary panic in Richmond, reported yesterday, arose from the fact that during the recess of the Legislature, certain officers of the banks of that city, which are depositories of the public moneys, attempted to create the impression that the act of the Legislature providing for the payment of the interest on the public debt could not be executed, and that any movement on the part of the State to withdraw the money deposited would precipitate a financial crash. The action of the dry goods firm of Clafin & Co, o, of New York, in levying upon the goods of Steenbock & Co., the largest dry goods house in Richmond, has created great excitement in the latter city. The Richmand papers say if this system is generally adopted by the North on creditors, it will inaugu-rate a fearful panic among the business men of the South. The Cincinnati Gazette of yesterday, has an interesting article in regard to the rivalry of the different railroads touching or centering at that point for western trade and for west connections. The Pennsylvania Central now has a continuous line by means of the Steubenville cut off and the Columbus and Indiana Central road to Indianapolis. And she is barganing for the Pacific railroad of Missouri. That concluded, it will remain to acquire the line from Indianapolis, through Terre Haute and Alton to St. Louis, and then the company will control a line extending from Philadelphia to the western terminus of the Eastern Division of the Union Pacific Railroad, wherever that may be. In regard to the Baltimore and Ohio, the Gacette says: While these things are going on, the Baltimore & Ohio Railroad Company are not idle. The managers of this mammoth corporation have been buying up the stock of the Marietta & Cincinnati Railroad, with a view to controlling and completing it to Cincinnati. It will then only remain to build a bridge-or rather to finish the bridge at Parkersburg-in order to secure a continuous line from Cincinnati, via Baltimore, to Philadelphia and New York. Besides the Baltimore & Ohio Company are establishing a first class line of steamers between Baltimore and Europe. Already much of the foreign goods imported for the West come over this line. It is not certain yet what particular connection the Baltimore & Ohio Company will have beyond this city.


Article from Clearfield Republican, October 10, 1867

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Article Text

NATIONAL BANKS SUSPENDED.-The following National Banks have passed into the hands of Receivers: Croton National Bank, N. Y. National Bank of W bitestown, Oneida county, N. Y. Atlas Bank, of Providence, R. I. Unadilla National Bank, Unadilla, New York. Kingston National Bank, Kingston, New York. Farmers' and Citizens' National Bank, Brooklyn, N. Y. First National Bank, Utica, N. Y. First National Bank, Medina, N.Y. First National Bank, Columbia, N.Y. Venango National Bank, Franklin, Pennsylvania. Merchants' National Bank, Washington, D. C. Tennessee National Bank, Memphis, Tennessee. First National Bank, New Orleans, Louisiana. First National Bank, Carondelet, Missouri. First National Bank, Selma, Alabama.


Article from The Jeffersonian, October 24, 1867

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Article Text

National Banks Suspended. The following National Banks have passed into the hands of Receivers : Croton National Bank, New York. National Bank of Whitestown, Oneida co., New York. Atlas Bank of Providence, Rhode Island. Unadilla National Bank, Unadilla, New York. Kingston National Bank, Kingston, New York. Farmers' and Citizens' National Bank, Brooklyn, N. Y. First National Bank, Utica, N. Y. First National Bank Medina, N. Y. First National Bank, Columbia N. Y. Venango National Bank, Franklin, Pa Merchants' National Bank, Washing ton. D. C. Tennessee National Bank, Memphis, Tenn. First National Bank of New Orleans Louisana. First National Bank, Carondelet, Mo. First National Bank, Selma, Alabama Mrs. Jesse Craig of Island Falls, Maine made, in six weeks this summer, 50 pounds of cheese.


Article from Fayetteville Observer, October 31, 1867

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Article Text

BROKEN NATIONAL BANKS.The following is a list of the National Banks that have suspended and passed into the hands of receivers. It will be found interesting to business men : Croton National Bank, New York; National Bank of Whitestown, Oneida county, N. Y.; Atlas Bank of Providence, R, I. ; Unadilla National Bank, Unadilla, N. Y.; Kingston National Bank, Kingston, N. Y.; Farmers' and Citizens' National, Brooklyn, N. ¥.; First National Bank, Utica, N. Y.; First National Bank, Medina, N, Y.; First National Bank, Columbia, N. Y.; Venango National Bank, Franklin, Pa.; Merchants' National Bank, Washington, D. C.; Tennessee National Bank, Memphis, Tenn.; First National Bank, New Orleans, La.; First National Bank, Caroudelet, Mo.; First National Bank, Selma, Ala.


Article from The Pulaski Citizen, November 1, 1867

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Article Text

The Lexington Statesman says the corn crop of Kentucky will be a very short one, perhaps not much above one-third of a crop; in some portions of the State that not more than five bushels to the acre, and in this region, where the yield ought to be from fifty to sixty bushels to the acre, not more than thirty or forty will be raised. Corn is already selling at $2 25 a barrel in the field, and it is expected it will be as high as $5 per barrel, gathered and delivered. BROKEN NATIONAL Banks.--The following is a list of the National Banks that have suspended and passed into the hands of receivers. It will be found interesting to business men : Croton National Bank, New York ; National Bank of Whitestowc, Oneida county, N. Y. : Atlas Bank of Providence, R.I.; Unadilla National Bank, Unadilla, New York ; Kingston National Bank, Kingston, New York; Farmers' and Citizens' National Bank, Brooklyn, New York ; First National Bank, Urica, New York; First National Bank, Medina, New York ; First National Bank, Columbia, New York ; Ve. nango National Bank, Franklin, Pa.; Merchants' National Bank. Washington, D. C. ; Tennessee National Bank, Memphis, Tenn.; First National Bank, New Orleans, La. First National Bank, Carondelet, Missouri; First National Bank, Selma, Ala.


Article from Indiana American, November 22, 1867

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Article Text

List of Broken National Banks. The following is a list of the National Banks that have suspended and passed in. to the hands of receivers: Croton National Bank, New York, National Bank of Whitestown, Oneida county, N. Y. Atlas Bank of Providence, R. I. Unadilla National Bank, Uuadilla, N. Y. Kingston National Bank, Kingston, N. Y. Farmers' and Citizens' National Bank, Brooklyn, N. Y. First National Bank, Utica, N. Y. First National Bank, Medina, N. Y. First National Bunk, Columbia, N. Y. Venango National Bank, Franklin, Pa. Merchants' National Bank, Washington, D C. Tennessee National Bank, Memphis, Tennessee. First National Bank, New Orleans, La. First National Bank, Carondelet, Mo. First National Bank, Selma, Ala. The notes of these Banks are not affect. ed in value.