Freedmen's Savings Bank - Washington, DC

Bank Information

Episode Type: Suspension → Closure
Bank Type: private
Start Date: December 28, 1876
Location: Washington, District of Columbia (38.895, -77.036)

Metadata

Model: gpt-5-mini
Short Digest: 4eecd487

Response Measures

None

Description

Articles (Dec 1876–Jan 1877) mention the commissioners now liquidating the affairs of the Freedmen's Savings Bank and a bill to authorize purchase of its building and to allow commissioners to buy in its real estate — indicating the institution was in liquidation/closure under commissioners. No article describes a run; the event is a closure/liquidation (government/commissioners).

Events (2)

1. December 28, 1876 Receivership

Newspaper Excerpt: He also introduced a bill authorizing the commissioners now liquidating the affairs of that institution to buy in its own real estate when the price offered for it at public sale shall be deemed too low.
Source: newspapers

2. December 28, 1876 Suspension

Cause: Voluntary Liquidation
Cause Details: Commissioners are liquidating the institution; legislation proposed to allow purchase of building and allow commissioners to buy in real estate.
Newspaper Excerpt: A bill introduced in the House to-day by Representative Douglass of Virginia, authorizing the Secretary of the Treasury to purchase the Freedmen's Savings Bank building in this city for Government uses at a sum not exceeding $300,000. He also introduced a bill authorizing the commissioners now liquidating the affairs of that institution to buy in its own real estate when the price offered for it at public sale shall be deemed too low.
Source: newspapers

Newspaper Articles (2)

1. December 29, 1876 New-York Tribune New York, NY

Article from New-York Tribune, December 29, 1876

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Article Text

WASHINGTON NOTES. WASHINGTON, Thursday, Dec. 28, 1876. The Secretary of the Interior has ordered that the City Rock Mining Company's application for a patent for the King of the West Mine in Utah shall be suspended until the controversy now pending between the parties in Utah is finally adjudicated by the courts. Secretary Chandler, in making this order, lays down the following important general principles: First, That it is the duty of the department, when an adverse claim is presented for consideration, to examine it and determine whether the claimant has substantially set forth under oath its nature, boundaries and extent. Second, If a compliance with the law is shown in these particulars, and a suit has been instituted to determine the rights of the parties, the department can proceed no further with the investigation, but must await the determination of all other questions relating to the controversy by the courts. This order is of great importance to mine owners. It completely reverses the past practice of the department, which has been to decide mining contests and issue patents while suits relating to them were still pending in the courts. A series of meetings which have been held here in the interest of the Missionary Society of the Methodist Episcopal Church closed this evening with a mass meeting of the Method'sts of this city, at Wesley Chapel. Ex-Mayor Emory presided, and addresses were delivered by the Rev. R. 8 Dashiell, D. D., corresponding secret ary of the Missionary Society; the Rev. C. H. Fowler, D.D., editor of The Christian Advocate, of New-York, and Gen. Clinton B. Fisk. Resolutions pledging hearty cooperation in increasing the funds of the treasury were unanimously adopted. Great enthusiasm prevailed. A bill was introduced in the House to-day by Representative Douglass of Virginia, authorizing the Secretary of the Treasury to purchase the Freedmen's Savings Bank building in this city for Government uses at a sum not exceeding $300,000. He also introduced a bill authorizing the commissioners now liquidating the affairs of that institution to buy in its own real estate waen the price offered for it at public sale shall be deemed too low. Mr. Douglass is chairman of the House Select Committee on the Freedmen's Bank. The Commissioner of Patents to-day decided the interference case of Frank W. Freund of Colorado against Nelson King of Connecticut, each of whom claimed the right to a patent for an alleged improvement on Sharp's carbine system. The invention is described as follows: A combination of the hammer, breech of gun, and firingpin for half-cocking the gun 111 the act of firing. and closing the breech when the hammer is down. The decision of the Board of Examiners in Chief, awarding priority of invention to Freund, is affirmed. The amount of silver disbursements from the Treasury to date aggregate $25,511,509 38, of which $15,395, 512 62 was for the redemption of fractional currency. and $10,115.936 76 was silver paid in lieu of notes and checks. The amount paid by the Assistant Treasurer in New-York is 97,596,607 in Boston, $3,537,030; in Phildelphia, $3,164,430; in St. Louis, $1,475,082; in Cincinnati, $2,280,257; in Chicago, $2,638,977, and in Baltimore, $991,012. The Treasury experts who have been engaged in examining the money which was partially burned in the recent accident on the New-York Central Railroad, near Buffalo, by which safes belonging to the American Express Company were destroyed, have up to this date sueceeded in identifying only about $7,500. The prospect does not seem favorable for the redemption of a large amount of the burned funds. A hearing was had to-day before Assistant Secretary of the Interior Gerham and the Commissioner of Patents on the subject of the award of the contract for photo!ithographing drawings of models. The bidders are The Graphic Company and the American Photo-Lithographic Company of New-York, and Mr. Norris Peters of this city. The bids were very nearly the same. Notwithstanding the published statements that Gen. Anderson, during his recent visit to this city, deposited the electoral votes of Louisiana with Mr. Ferry and received a regular receipt for them, it can be stated upon the authority of Mr. Ferry's private secretary that, up to this time, no electoral returns have been received from Louisiana. The Senate Committee on Privileges and Elections will commence the investigation into the Oregon electoral case to-morrow. Messrs. Watts, Odell, and Cartwright. the Republican electors, and the Hon. Stephen Chadwick, Secretary of State of Oregon, witnesses subpenaed to appear here, arrived this morning.

2. January 4, 1877 The Eaton Democrat Eaton, OH

Article from The Eaton Democrat, January 4, 1877

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Article Text

NEWS IN BRIEF. Items from the Capital. The President, in his message on the ex tradition treaty between the United States and Great Britain, says: It is with great satisfaction that have to d announce that Her Majesty's Government, while expressing its desire not to e understood to recede from the interpr etation which in its previous correspondence it had put upon the treaty but having regard to the t respect of a new treaty and the power possessed by either party of spontaneously denouncing the old one, caused the re-arrest, on the 4th inst., of Brent, one of the fugitives who had been previously discharged, and after waiting the requisite time in which the fugitive is entitled to apply for his discharge, on the 21st inst, surrendered him to the agent appointed on behalf of this Government to receive and convey him to the United States. As this surrender of Great Britain, without condition or stipulation of any kind being asked, removes the obstacles which interrupted the execution of treaty, shall no longer abstain from making demands on Her Majesty's Government for the surrender of fugitive criminals, nor from entertaining requisitions of that character from that Government, under the treaty of '42, but will again regard the treaty as operative, hoping to be able before long to conclude with Her Majesty's Government a new treaty, of a broader and more comprehensive nature. A bill introduced in the House by Representative Douglass, authorizes the Secretary of the Treasury to purchase the Freedmen's Savings Bank building, for Government uses, at a sum not exceeding $300,000. He also introduced bill authorizing the Commissioners now liquidating the affairs of that institution to buy in its own real estate when the price offered for it at public sales shall be deemed too low. Mr. Douglass is Chairman of the House Select Committee the Freedmen's Bank. The West. Thomas Ramsdale, a negro, was killed lately in Sequoyah District, Cherokee Nation, by his wife chopping him in the back of the head with an ax. His wife was an Indian. Fires. The New New Orleans Democrat's special from Homer says a disastrous fire broke out there lately, which was thought to be the work of an incendiary. Twenty business houses were burned, and two dwellings Three leading firms were burned out: Mc. Carney, Gill, and Otis & Barron. Loss, $150,000; insurance, $54,000. At two o'clock on the afternoon of December 25, the boiler-house of the American Transfer Co.'s station, at Oil City, Pa., took fire, followed by an explosion of the boiler, which was thrown against an iron tank, containing about fifteen thousand barrels of oil, bursting the tank and setting it on fire. The total loss on oil is about 35,000 barrels and five iron tanks, two owned by Mawhinney Bros.; two owned by Cochrane, and one by the American Transfer Company. There were also five Erie Railway boiler cars burned. The loss is estimated at $200,000, partially insured. The American Transfer Company will commence rebuild ing once. Another disastrous and tragic fire is reported as occurring at the Convent of the Sisters of Providence, at St. Elizabeth, near Joliette, Provience of Quebec, on the night of the 25th of December. All the community were in bed, when, at twenty minutes past nine, the whole convent was-in flames. All that could be done for all the persons inside was to hurry them out. Nuns, as well as children, had only time to save themselves without clothes. It is believed that the fire originated between the floors. There were forty-eight boarders in the Convent Thirteen persons perished in the flames. The building formed two wings; the Sisters and fifty lady boarders occupied one wing, while the other was occupied by some fifty orphans and infirm persons. The structure was of wood, and there being no fire apparatus in the village, the fire could not be checked. Nothing was saved from the building. There was an insurance cn the property of twenty four thousand dollars. Frederick's photograph establishment 587 Broadway, New York, which is about the entrance of Tony Pastor's Theater, was burned the other morning. Loss, $80,000. It was at first supposed that the Theater was on fire, but when the flames were extinguished it was ascertained that the TheaA as only slightly damaged by water. great many valuable pictures were destroyed General Brevities, As the Eastern Express was running un der full headway, three miles west of Bellefontaine, Ohio, on the morning of the 25th inst., passenger coach jumped the track on account of a broken rail. The car rolled down the bank, resting bottom up. Nearly all in the car, some twenty, were more 01 less injured, some severely, but none were killed outright. Among those severely in jured were Mr. Sayre and wife of India apolis; William Barker, conductor; Mrs Fullmer and child, Degraff; a blind man name unknown, and Abe Collins, of Belle fontaine. The names of the rest who were injured, were not ascertained. A few days since a package of twelve thousand dollars sent from the Treasury at Washington to Chicago National bank in exchange for fractional currency. When the package was opened at Chicago, it con tained nothing but brown paper. When and by whom the robbery was committee rather mystifies the secrets detective The citizens of Richmond, Indiana, wer shocked recently by the suicide of Henr H. (Sonnickson, proprietor of the Indian House, at that place. He had been leading a life of dissipation, and his wife had filed application for divorce, the proceedings which were pending in the court at th time. Early in the morning he sought hi wife and pleaded with her to withdraw th suit. She refused. He then went to hi room, loaded a double-barreled shot-zur and shot himself, expiring in few minutes The Florida Supreme Court, on Saturday the 23d December, issued a peremptor order to the Board of Canvassers to recoun the votes from the face of the returns. Thi of course will have no effect on the Elec toral vote, but will probably elect the Dem ocratic State ticket. An inmate of the Soldiers' Home, Dayto Ohio, Paul Barel, froze to death few night ago in a forest near that city. He belong to the Twentieth New York Volunteers. RobertSchultz, a young German mechanic suicided at Evansville, Ind., by shooting himself through the head with revolver