First National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 1395
Charter Number: 1395
Start Date: December 1, 1890*
Location: Utica, New York (43.101, -75.233)

Metadata

Model: gpt-5-mini
Short Digest: be666319

Response Measures

None

Description

Article (Mar 24, 1891) describes the 'wrecked bank' and repeatedly refers to 'the suspension of the First National Bank' and testimony about mismanagement and overdrafts. No explicit mention of a depositor run; context indicates a suspension that led to the bank being wrecked/closed and criminal prosecution of its officer.

Events (1)

1. December 1, 1890* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank described as 'wrecked'; testimony alleges close personal management by Judge Hughitt, overdrafts and problematic connections with failed firms, indicating internal mismanagement/insolvency led to suspension.
Newspaper Excerpt: at the time of the suspension of the First National Bank
Source: newspapers

Newspaper Articles (1)

1. March 25, 1891 The Times Richmond, VA

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Article Text

THE WRECKED BANK. The Case of William Hughitt Being Heard in the United States Court. UTICA, N. Y., Mar. 24. In the case of the Government against William Hughitt in the United States District Court this morning the prosecution devoted most of the time to proving by depositors of the wrecked bank that Judge Hughitt gave a large share of his personal attention to the bank and its affairs and was to be seen there almost daily examining the books and conversing with the employes. Mr. Anderson, of Seward & Company, bankers. of Auburn, testified that at the time of the suspension of the First National Bank his house held $7,000 of that institution's paper which it ;had rediscounted and which had since been paid. Ex- -State Senator William B. Wood, in testifying. said that with three exceptions Mr. Hughitt's general character was good up to the time of the suspension of the bank. The exceptions were occasions on which he heard his conduct criticised for his connection with the closing up of the affairs of the Dodge & Stevenson Manufacturing Company, the Empire Insurance and a Paper Bag Company. Charles J. Keeghan, bookkeeper for the firm of J. MaeLoughlin's Sons, testified that on the seventh of December the firm had overdrawn its account at the First National Bank $1,250.55.