18987. Beneficial Savings Fund Society (Philadelphia, PA)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
April 4, 1869
Location
Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model
gpt-5-mini
Short Digest
058a04ee

Response Measures

None

Description

Articles (Apr 5–9, 1869) report a large robbery at the Beneficial Savings Fund Society (vault and inner safe forced, large registered bonds stolen) and state the company 'has suspended payment to depositors for the present.' No run on depositors is described, and no receivership or permanent closure is mentioned; suspension is presented as temporary, so classified as a suspension with likely reopening.

Events (1)

1. April 4, 1869 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Large overnight robbery of vault and inner safe at Beneficial Savings Fund Society; hundreds of thousands of dollars in registered bonds and cash stolen, locks forced (Lillie combination), prompting suspension of payments to depositors until further notice.
Newspaper Excerpt
The company have suspended payment to depositors for the present.
Source
newspapers

Newspaper Articles (4)

Article from The Evening Telegraph, April 5, 1869

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Article Text

ROBBERY. ChesWork at Twelfth and the BeneThieves at Enter the Office of in Broad nut-They Savings Fund Society in ficial and Walk Off with 8800,000 Day, Money and Bonds. and Ready is fast losing her ancient when the Philadelphia reputation. From the time was driven till honored for her first house her glory first stake few years, it has ever been in the Union within a that no other city immunity and surpassed her boast her in quiet, order. her and just pride is crime. Now, however, of Democratic from She is the rival "bloody destroyed. New York," "iniquitous Chicago," or Memphis!" item of enormity in her committed appalling The last crime is the daring robbery Chesnut list of the corner of Twelfth and perhaps street. yesterday Its at boldness and success are unparalleled. southwest corner of the streets named struc. At the rickety, dilapidated, insecure neighborhood, stands a a landmark of the the cititure. It is familiar to the eyes of three old fashioned, Its composition is brick; its height welling, zens. it was used as a answer stories. Formerly been changed very occupation. little to The and the purposes floor has is reached of its by present a tall flight basement of steps. room, This leaves fact an additional story an to first considerable in occupied as which constitutes The basement is second floor the running uphclstering building. of establishment. the building The Bird's billiard down of the part street is occupied by used as the Twelfuh iront portion being floor is saloon, the family. The first residence of a private house of the Beneficial used as the banking Philadelphia. Thisis Roman benefit Savings Catholic Fund instit of ution, organized with for the the Catholic of poor girls which connected has for some time finan- been largely Church, used but by of other theconcern parties. gave The it high found this popu- in its the amount of treasure faith in larity, and shows that the popular safe cial character yesterday unfounded. is stability was afternoon not about o'clock the superintendent Yesterday of the billiard-rooms, of business, having found, ocea- on sion to go to enter by the Twelfth attempting to had been in some way this the lock his not place turn. He thought street tampered door, that would real state of with but suspicion of the He went to things struck him ai which the hefound open, and singular, Walnut and street building. door. A wide time. entry leads are from the entered this door the past the banking into rooms, the interior which of the to the right not singular that the second house. for the family on should be It open, of was 11, and perintendent the hall door it at all times. The when, this way to the a window on the that frontand back buildings, floor passed looking used the from billiard-room landing, he saw open. be tween of the savings fund was area a opened upon a back This window window small approached or which could be further The from the Twelfth directly knew that the Superintenden entry-way. street Savings and door. appre- Fund was never left unclosed, window descended to that the window had then and looking in he saw burglars' nending found without, mischief, the been of yard. beyond opened He a from burst open, and a variety He at large implements safe scattered about the of floor. Mr. Charles proceeded to the residence Fund, once Repplier, the Presider of the Savings and A. informed window him through of the which facts. the robbers entrance got in The affords, from its position, an room. easy has been into the with Society's sheet counting iron, and it was thought hinencased (astened. It offered but little securely drance, however, employsa to the thieves. private watchman. the build- but The that on Sundays he leaves hour it o'clock in the morning. At the ing at six appears Society everything was secure. When that yesterday of the directors were alarm when an examination was made. Everything the room It summoned, mises was given, some confusion. of the prestate of inextricable was in a that the large Lillie vault was at the southwest angle of found situate contents, theroom, e-proof safe, open, and its entire was of all the bonds, money, in of the Society, were tin consisting charge broken abstracted. numerous etc., These were contained in and which were taken out one by open, and their contents broken boxes, valuables secured. large one one. stationed within the A four locks. and which having value, was lifted out the small greatest contained into papers paper the floor, of and the lock picked, and every taken from it. of the room was torn up in differThe carpet and torn envelopes that contained all etc, were strewn around in The robbers had at a hours, for it was directions. valuable ent places, bonds, evidently found been that for work of timber, evidently large had been fastened in an purpose, for piece several safe prepared door, upright the the floor, near the and by hinges screwed to this was a prop, this upright post. used was behind means position of on iron Thiscontrivance securely the the floor, drill planted against afford a sort of support to the used to hole safe door, by which to drilla (who evidently knew their hands) business were burglars thoroughly. and were professional enabled to pick o'clock the lock. experienced workmen, ac. At eight the manufacture of safes, were of with business of quainted and entrusted with the the deprocured lock in the presence The inside plate bolts unscrewed and taken off, door was case of the lock tective examining officers. the the removed, and of the the the This opera- large reconsiderable light on moval an examination made it tion, were mechanics ofno mean the holding and threw evident over ability. that of the large door the calscratched on the two of the operators before culations look the The burglars outside crosses shows paint, commencing abandoned process. The first they and the drilling made the second measurement they and then from this with the small drill, working bored with mathematical accuracy directly on


Article from Gold Hill Daily News, April 6, 1869

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[Special to the Gold Hill Daily News. by the Atlan. tie and Pacific Telegraph Line.] TO-DAY'S TELEGRAMS. From Washington. WASHINGTON, April 5.-Mr. Cresswell, by Mr. Sargent's request, asked the Senate to suspend action on the nomination of Mr. Chester as Postmaster at Placerville, with a view to its withdrawal. Mr. Sargent recommends Thomas Tennent for Assessor at San Francisco, vice Gunn. The President to-day signed the Tenure of Office bill. The Supreme Court will adjourn April 15th till October. No arguments will be heard after Friday. The Senate this afternoon confirmed nearly two hundred nominations, including nearly all the Postmasters sent in heretofore, besides Registers and Receivers of Land Offices. The Bank Robbery at Philadelphia. PHILADELPHIA, April .-Over $400,000 of the bonds stolen from the Beneficial Savings Bank are registered bonds, non-convertible. $25,000 reward is offered. The company have suspended payment to depositors for the present. The Lillie combination lock on the vault, and also on the safe inside, were forced with apparent ease. Death of Chas. S. Fairfax. CHICAGO, April 5.-Charles Suowdon Fairfax, of California, died yesterday at Barnum's Hotel, Baltimore. He will be buried to-morrow by the Masonic Fraternity, in Rock Island Cemetery, a few miles from Washington. Appointments in Virginia. RICHMOND, April 5.-General Webb to-day appointed Colonel Garriek Matting Secretary of State, and Major M. Porter Second Auditor. Both are army officers.


Article from The Montana Post, April 9, 1869

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General News. Chicago, April 5.-Charles Snowden Fairfax of California, died yesterday at Barnum's Hotel, Baltimore, and will be buried to-morrow by the Masonic fraternity in Rock Church Cemetery, a few miles from Washington. Creswell, by Sargent's request asks the Senate to suspend action on the nomination of Chichester for Post master of Placerville, California, with a view to its withdrawal. Sargent recommends Thos. Tenant for Assessor, vice Gunn. New York, April 5.-The Committee" of Ways and Means to-day resolved personally to examine the Custom houses, warehouses and revenue offices from Boston to San Francisco during the recess, preparatory to framing the tariff and revenue bills for the next Congress. Philadelphia, April 5.-Over $400,000 of the bonds stolen from the Beneficial Savings Bank were registered bonds, and convertable. Twenty-five thousand dollars reward is offered. The company has suspended payment to depositors for the present. The Lillie combination lock on the vault and also on the safe inside was forced with apparent ease. Elections. Cincinnati, April 6.-At the election today, city officers Torrence, Mayor, and Tafft, Judge of Superior Court, both Republicans, were elected. The whole are Republicans except three minor officers. Detroit, April Eight votes were cast today. The Republicans elected Cooly Justice of the Supreme Court, and McGowan and Eastbrook Regents of the State University by a large majority; also nearly all the circuit Judges. Appointments. Richmond, April 5.-Gen. Webb to-day ap pointed Col. Garrick Malory, Secretary of State, and Major M. A. Carter, 2nd Auditor. Both are army officers. Wa-hington, April -Among the nominations sent in to day, was Ashley for Governor of Montana; BF Dennison, Chief Justice of Washington Territory; Edward Evans, Associate Justice of the same; Frank Walcott, receiver of the Land Office of Wyoming. Also the following Registers of Land Offices, Lewis Dugan, Denver; L B Lyman, Helena; Henry Wetter, Santa Fe; Jacob P Clark, Olympia; Wm J Berry, Prescott, Arizona. SurveyorGenerals, I Rush, Spencer, New Mexico; W II Beadle, Dakota; Henry D Washburn, Montana; Col. CD Ruger, Wyoming: EP Ferry, Washington Territory. The President to-day signed the Tenure of Office bill. The Hallroad Junction. Washington, April 5.-T joint resolution to protect the interests of the United States in the Union Pacific Railroad came up in the Senate. The pending question was Snerman's amendment authorizing the President to fix the junction of the two roads, and if he deems it necessary, appointa Board of eminent citizens, not exceeding five, to examine and report in (regard to the proper point of junction; also, in regard to the condition of each railroad. Ward opposed the amendment and moved and mored an amendment appointing Generais Sheridan, Thomas, McDowell, Halleck and Thomas J. Crane a Board, with authority to re-establish the point of junctioa, which shall be on the line already approved by the Secretary : Interior. Sherre its said it was well known that the line fixed by the Secretary of Interior was in dispute, and the charges now being investigated by the House of Representatives. It is now necessary the point of junction be fixed by competent authority. Penitentiary squabble. Detroit, April 5.-All the keepers having in charge the convicts in the shops of the State prison resigned to-day because their salaries were not raised by the Legislature. entirely ceased and the convicts a their cells. The locked Work has in contractors which hold the State responsible for the damages, amount to ofer a thousand dollars per, day.


Article from The New Orleans Crescent, April 9, 1869

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GENERAL NEWS ITEMS. There are is Massachusetts about seven hundred colored Free Masons, who have seven flourishing lodges in exisience. They have never been acknowledged or recognized by the white Free Masons of Massachusetts and have for along time been trying to secure what they term their rights. The Masonic publications are discussing the subject, and 80 is the Grand Lodge (white) of Massachusetts. A veterinary surgeon of Springfield, Illinois, named McKechnie, died on the 4th from disease communicated by the bite of a glandered horse to which he bad been administering medicine some ten days. A heavy robbery was committed in Philadelphia on the 4th, at the Bt. John's Safety Fund building, corner of Twelfth and Chestnut streets. The watchman left the building atsix o'clook A. M., and when he returned at six o'clock in the evening he found the safe broken open and its entire contents, amounting to eight hundred thousand or one million dollars, gone. Of the etolen property over six hundred thousand dollars was in available funds greenbacks, etc. The steamer Great Republic sailed from San Francisco for Hong Kong, via Yokohama. on the 5th, with $490,000 in treasure- $200,000 for Yokobama, $117,000 for Hong Kong, $70,000 for Hiago, and $14,000 for Shanghai. The United States steamer Saginaw arrived at Ban Francisco on the 3d. from Sitka, touching at Forts Wrangle, Simpson and Rapert on the way down. Since the Indian difficulty, the fur trade at Sitka is entirely apsedded, and the Indians afraid to approach the town. The lake tribes are terror stricken at the destruction of their villages, and, it is thought, would surrender the marderers (two white men) to the military authorities, but they dare not harbor them. The weather at Sitka was wet and disagreeable. All well at Forts Wrangle, Simpson and Ropert. The Indians were quiet. It is reported that several ships of the Pacific squadron. including the flagship Powhatan and Mihouga are to be patout of commission on their arrival here, and the officera and men ordered to the squadron off the Cuban coast. It is also stated that the North and South acific squadrona are to be consolidated under one rear admiral. The United States marine he spital was 80 badly injured by the October earthquake, and further damages by the shock of the first of April, the building has been deserte since last October, and is fast going to ruins. The Central Pacific Ra road completed to the 640th mile post. Since removal of the Democratic commissioners 7 miles have been constructed, but there are ho commissioners here authorized to examine and report upon the work. Track-laying progresses the rate of five miles per day, and is expected to reach Ogden in twenty days. 0 The printers' strike, long existing in New the following basis York, has been settled The employing printers concede the twenty dollars per week asked by he Union, and the Union reduces their price of imposition about one cent per one thousand ems as follows: ty-three cents for solid manuscript copy, and fifty cents for leaded; fifty cents solid reprint copy, and forty seven for leaded The price per hour for day work to be thirty Ave cents, and for night work fifty cents per hour Compositorsemployed at day work are to be all wed to charge ten cents perone thousand ems a ditional for matter after six o'clock P. M. All bo work to be charged in pages. Both parties ar to sign the new scale and a copy of it to be posted conspicuously in every office. The employing printers also agree to recognize the printers Union, and recommend the establishment of a house of call for the accommodation of unemployedsprinters, to be supplied with magazines and newspapers, the expense to be borne mutually by the typos and the Union. The Boston banks paid! out two million dollars for their own dividends the 2d. Two millions more were paid out by other corporations as interest on various securities The annual report of the Union Pacific Railroad Company shows that the gross earnings of the road for 1868 are $1.910,0 000. and the net earnings $873.000. The operating expenses are 54 per cent. of the gross rnings, a decrease of 12 per cent. from the operating expenses of 1867 In addition, the net proceeds of the land department over $253 000, and the total income of the company from all sources was over $2,100,000. The Increose of regular mere Andise traffic over 1867 was 50 per cent. The company resolved to at once push forward the work of constructing the road to Denver The burning of the Methodist Church and the distillery at San Jose, California, recently, was the result of incendiaries on account of prejudice against teaching and e aploying Chinese. The pastor of the church labore under the delusion that it is a duty to instinct such Chinese as are willing to learn in the principle of Christianity, through the medium the English language. He received a letter threatening the destruction of his church if he persisted, and declaring that all who employed the Chinese should be punished like manner. The church was burnt and follow ing it came the burning of Gen. Naglee's distillery, involving loss of $100,0 for the crime of hiring three or four Mongolians. The Rev W E. Eppes. of Jacksonville, Florida, has accepted the rectorship of St. James Church of Marietta, Ga. The Rev. Marshall B Smith, for a number of years rector of St. John K Church, Passaic N.J. and for two years working editor of the Protes. tant Churchman, has sent a letter to Bishop Odenheimer, of New Jersey, announcing his withdrawal from the ministry of the Protestant Episcopal Church. He says he has always been an Episcopalian, but the canons passed by the late general convention. and the charge of the bishop inculcat ing unconditional submission to his authority, have placed on him burdens to which he cannot con. scientiously as a Protestant submit. He loves the mode of worship of his church, and would never leave it did he see any possibility of a change for the better. He will, therefore, work in the ministry of some other donomination. The Episcopalian of Philadelphia, publishes the letter, ad. mits the force of its positions, but says that & part of the evangelical wing of the church can fight against ritualism better by continuing in the church than by leaving The Green Bay (Wisconsin) Gazette says deer were never 80 plenty as they have been this sea. son. They are now coming into the settlement, and even into the city every day. chased from the woods by dogs, making straight for the houses and stable yards. One was chased on Monday by boys to town and into the very yard of Mr. E. Eilis, in the city, where his deership was left to his own salvation or destruction. Mr. Montello found one in his barn yard the other day, resting quietly with his sheep It is said an Indian killed fifteen in two days at Little Kaukauna. About four hundred thousand dollars in securities were stolen from the Beneficial Savings Fund, Philadelphia, on the 4th. They were non convertible registered bonds; ninety three thousand dollars of the $150 000 coupon bonds were 5-20s. The society will have over $160,000 to meet the claims of three thousand depositors. Twenty five thousand dollars reward is offered. Payments to depositors for the present is saspended. A combination lock on the vault, as well as a smaller safe inside, was forced with apparent ease.