2028. German-American Bank (Washington, DC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 1, 1878*
Location
Washington, District of Columbia (38.895, -77.036)

Metadata

Model
gpt-5-mini
Short Digest
27f08da8

Response Measures

None

Description

Newspaper articles from Nov–Dec 1878 describe the German-American Bank as already suspended, directors and receiver handling affairs, creditors' committee reporting assets/liabilities and receiver estimating costs to close. No mention of a depositor run or reopening; a receiver is in place and winding up is underway, consistent with permanent closure/receivership.

Events (3)
1. November 1, 1878* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank described as 'suspended' with discussion of irregularities, directors submitting statements and creditors' committee investigating assets and liabilities indicating bank-specific insolvency/irregularities led to suspension.
Newspaper Excerpt
THE SUSPENDED GERMAN-AMERICAN BANK
Source
newspapers
2. November 11, 1878 Other
Newspaper Excerpt
A meeting of the directors of the suspended German-American bank was held on Saturday afternoon, and Mr. Samuel S. Mattingly, the cashier, submitted his statement. After some discussion it was decided to refer it to a committee of two disinterested business men to make examination of the assets. The statement will not be made public for the present.
Source
newspapers
3. December 22, 1878 Receivership
Newspaper Excerpt
A committee appointed by the creditors of the German-American Bank, of this city, which recently suspended, have made an investigation and report ... the receiver considers the holders of $100,000 of this responsible men and good for the deficiency.
Source
newspapers

Newspaper Articles (4)
1. November 8, 1878 Evening Star Washington, DC
Article from Evening Star, November 8, 1878

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Article Text

Amusements, &c. NATIONAL THEATER.-There will be a Heller matinee at the National to-morrow. All the children in the city should be allowed to attend. Mr. Heller's audience last evening was a good one. With the excellent entertainment he gives he should never have a slim house. THEATER COMIQUE.-The great character VOcalist, Edward Kendall, is a favorite at the Comique this week. The comedy "Forbidden Pleasures" is given in good style. MENDELSSOHN QUINTETTE CLUB.-This famous musical organization give their concert at the Congregational church this evening. The perfection to which they have brought their talent has placed them long ago at the head of their profession in America, and they are everywhere greeted by enthusiastic audiences. Those desiring to enjoy a musical treat should attend this concert. FIFTH BAPTIST CHURCH.-A nightly musical and literary entertainment will be given at this church, on D street S.W., until further notice. THE SUSPENDED GERMAN-AMERICAN BANKAn Incorrect List of Stockholders.-A stockholder of the suspended German-American bank sends us the following copy of a letter he received today from Receiver Keyser: WASHINGTON, D.O., Nov. 8, 1878.-Dear Sir: In reply to your inquiry of this date, I have to state that the list of stockholders enumerated in the Post of this morning as having been given by Mr. Wolf, is not correct. Very respectfully, B. U. KEYSER, Receiver. Appended to the above was the following: Editor Star: As the list of stockholders published by the Post this morning would seem to have originated in the brain of Mr. Wolf, and to be false, would it not be proper for the receiver to publish a correct list officially? A STOCKHOLDER. VERY DESIRABLE dry goods. All new goods. Colored silk velvets. Black silk velvets. Broche shawls. Cloaks latest style, all prices, from $5 to $30. Very fine dress goods, pure silk and wool, wide double width, $1, $1.25, $1.50, $1.75, 2$. Ladies wool vests, fine quality, only 50c. Marseilles quilts $1.50, $2, $2.50 to $5. Shetland shawls, all colors, $1.50, $2, $2.50, $3. Colored silks 65, 75, STC., $1, $1.25. Our $1 and $1.25 black Space.-Adet. silks are special bargains. Carter's, Market BLANKETS! BLANKETS.-Large double white blankets $2, $2.50, $3, $3.50, $4 per pair. Bed comforts 75c., $1, $1.25, $1.50, $1.75, $2. Boys' cassimeres 50 cents. Gent's fancy cassimeres 75c., $1, $1.25, $1.50 per yard. Ladies' new fall dress goods 23 cents. Cloaks from $5. Shawls from $1.50, at Towson's, 636 Pennsylvania ave., south side.-Adct,

2. November 11, 1878 Evening Star Washington, DC
Article from Evening Star, November 11, 1878

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Article Text

ATTEMPTED SUICIDE IN A POLICE CELL.-Jas Brian, fifty years old, arrested by Officer Smoot yesterday on a peace warrant sworn out by his wife, attempted to commit suicide in the eighth precinct cell last evening by hanging himself with his suspenders. These were taken from him, and later he tore his shirt into strips, and making a stout cord, again tried to choke himself by fastening it to the iron bars in the cell. ATTEMPTED SUICIDE.-A rumor was current lest night to the effect that a man named John S. Fuellin, living at number 435 Rhode Island avenue, had either committed, or attempted to commit suicide. The facts are that he has been drinking very hard since last Thursday. He was taken with severe pains yesterday morning and sent his daughter to the drug store of F. W. Koss, corner of 7th and Boundary streets, for ten cents worth of laudanum, which he took at one dose. Drs. Glennin and Mauss were called in and rendered medical aid. His condition is very much improved to-day. THE GERMAN AMERICAN BANK.-A meeting of the directors of the suspended German-American bank was held on Saturday afternoon, and Mr. Samuel S. Mattingly, the cashier, submitted his statement. After some discussion it was decided to refer it to a committee of two disinterested business men to make examination of the assets. The statement will not be made public for the present. Two YOUNG LADIES DRIVE A BURGLAR OFF. Yesterday morning a burglar broke into the residence of Dr. B. C. Cook, corner of 13th st. and Maryland avenue. Two young ladies hearing the racket, caught up shot guns and went for him. He vanished through a rear door as one of the young ladies drew a bead on him. A NEW CONGREGATION. - For the last six months dissensions of such a character have arisen in the congregation of the German "Concordia" church, corner of 20th and G streets-of which the Rev. G. L. Rietz during the past nine years has been the pastor-that a split has taken place. Eighty-one members of the congregation have thus far offered to stand by their pastor, and are taking preliminary steps to start a new congregation. NEW CLOAKS, beautifully trimmed, from $4.50, $5, $6, $7, $8, $9, $10. New fall dress goods, immense assortment, from 15, 20, 25c. Colored cashmere, yard wide, 50c. Boys' cassimeres, 50, 60, 75, 87c., $1 per yard. Black cashmeres, all wool, from 50c. Towson's, 636 Pennsylvania avenue, south side.-Advt. COAL ECONOMIZER saves three times it cost, t

3. November 14, 1878 National Republican Washington, DC
Article from National Republican, November 14, 1878

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Article Text

# Mr. Chris. Ruppert Indignant. A reporter of THE REPUBLICAN called last evening upon Mr. Chris. Ruppert, the Seventh street merchant, to learn the truth regarding the published rumor that he had attempted suicide on account of a depression of spirits, incident to the recent suspension of the German-American Bank, in which he is interested: "Well, I see, Mr. Ruppert, you are alive?" remarked the reporter. "Yes, sir," replied that gentleman: "and intend to live long enough to bury the contemptible scoundrels who live on detraction and slander." "What do you think has caused this absurd story?" "I can only guess at the reason. Had I been implicated in any of the charged irregularities of the bank this attack had not come; but, defeated in their expectation, they now desire to heap ridicule where they failed in dishonoring me. I look upon this as a contemptible, dirty business, and, started as it has been by envious Germans, is another proof of that unity and love of fair play which they ever claim, but never practice. I am determined to do my duty in this bank failure, and will not allow myself to be worried or annoyed. I think my life in this city is known well enough to give the lie to any absurd, sensational, lying rumor. There is nothing in life so damning as this aspersion of personal character, and it seems to me that a newspaper ought to be well informed before giving it currency."

4. December 23, 1878 The New York Herald New York, NY
Article from The New York Herald, December 23, 1878

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Article Text

THE GERMAN-AMERICAN BANK. ASSETS AND LIABILITIES AS GIVEN BY THE CREDITORS' COMMITTEE. WASHINGTON, Dec. 22, 1878. A committee appointed by the creditors of the German-American Bank, of this city, which recently suspended, have made an investigation and report that the liabilities of the bank are $305,163 07. The assets, after throwing out what the receiver considers doubtful among the bills receivable and taking the real estate and personal property at the valuation of the receiver and three prominent business men, amount to $305,642 63 or $479 56 more than the liabilities. It is, however, estimated that it will cost some $15,000 to close up the affairs of the bank, which would leave about five per cent of the total indebtedness to be met by the stockholders. The capital stock is $130,000, and the receiver considers the holders of $100,000 of this responsible men and good for the deficiency.