Knapp Brothers (Deposit, NY)

Episode Information

Episode UID
2181846391312
Episode Type
Suspension → Closure
Bank Type
private
Bank ID
218184639 hash
Start Date
April 9, 1909
Location
Deposit, New York (42.060, -75.428)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
17044f19edd8ff37

Response Measures

None

Events (2)
1. April 9, 1909 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Insolvency caused by excessive unsecured/overloans to the Outing Publishing Company and related Knapp family enterprises.
Newspaper Excerpt
Knapp Brothers, private bankers, having offices in Deposit ... suspended ... suspension of the Binghamton company followed ... inability of Knapp Brothers to meet obligations ... due to an overloan to the Outing Publishing Company.
Source
newspapers
2. April 13, 1909 Receivership
Newspaper Excerpt
Judge George W. Ray ... appointed receivers for ... Knapp Brothers bankers at Deposit and Callicoon.
Source
newspapers

Newspaper Articles (16)
1. April 10, 1909 New-York Tribune New York, NY
Article from New-York Tribune, April 10, 1909

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HIT TRUST COMPANY PRIVATE BANKERS FAIL. Up-State Concerns Controlled by Knapp Family Close Doors. Binghamten, N. Y.. April -The Binghamton Trust Company. capitalized at $800,000. and Knapp Brothers, private bankers. having offices in Deposit and Callicoon. N. ¥.. suspended operations this morning In a statement given out to-day President Charles J. Knapp. of the Binghamton Trust Company, said that the suspension of the Binghamton company followed a meeting of the board of directors last night. at which time it was decided to place the institution in the hands of the State Banking Department. Chief Examiner M. W. Hutchins arrived this morning and took charge of the trust company. President Knapp stated that the suspension of the trust company was due to the inability of Knapp Brothers to meet obligations. The embarrassment of this firm. he said, was due to an overloan to the Outing Publishing Company. of Deposit. The bank examiner is unable to make estimate of the assets and liabilities until he has gone over ali the securities The directors of the bank announce to-right that it will be reorganized and the depositors paid in full. When the bank closed its doors it had more cash on hand than at any other period of its history, but it was thought best to place the bank in the hands of the state department. under the new law passed last year. thereby avoiding a probable run and the possibility that securities would have to be sacrificed The deposits of the Binghamton Trust Company are over $3,200,000. The Knapp Brothers' bank at Deposit has deposits of about $430.000 and their Callicoon bank about $200,000. Much of the paper from the Dépobil and Callicon banks had been taken by the Binghamten Trust Company The Binghamten Trust Company has a capital of $300,000 and a surplus of $317,000. and its stockholders are llable for $300,000 more. It 18 believed that the loss to the trust company could reach $750,000 before the depositors would lose a cent. Unless conditions are found to be much worse than expected. it is thought that the losses will not be over $500,000 or $600.000 Ex-Congressman Charles J. Knapp is president of the Binghamton Trust Company, and his son Percy is cashier. and his nephew, Charles P. Knapp. managed the Deposit and Callicoon banks. These men and several other members of the Knapp fami1y are the principal owners of the publishing company. Albany, April 9. The failure of the Binghamton Trust Company was a surprise to the State Banking Department officials. The company through its president. C. J. Knapp. and F. P. Knapp. cashier. filed a report with the department recently in compliance with a call issued by the department to trust companies, giving their condition as of March 26 last The report gives the total resources and liabilities as $8,884,286 75. Under the law enacted last year the Superintendent of Banks has power to liquidate the institution or allow it to resume operations. Clark Williams State Superintendent of Banks, said last night that his department had taken possession of the suspended Binghamton Trust Company. but that he had received only one report during the day and *could not speak authoritatively regarding the suspension. The bank department inspects companies under its control twice a year. and at the last inspection of the Binghamton Trust Company its affairs were found to be in perfect shape This fact appears to give verification to reports that the trust company's embarrassment is caused by the insolvency of subsidiary concerns that do not come under the authority of the State Superintendent of Banks It is expected that the affairs of the company will be liquidated within a short time and at very small cost to the stockholders and depositors In the case of the Home Bank of Brooklyn. the first instance under the new law enacted last year. forty-two days was all that was required for liquidation and the cost was only $1,200. This has been the case with all the liquidation proceedings in which the state department has superseded the receiverships current under the aid law. The new law closely resembles the federal system. and impartial critics declare that it is a decided success The publication office of The Outing Magazine. issued by the Outing Publishing Company is Deposit. N. Y., the editorial rooms being Nos. 35 and 37 West 31st street this city. According to the Corporation Directory for 1909 Charles ₽. Knapp is president and James Knapp Reeve secretary and Charles P. Knapp. James Knapp Reeve J. Henry Harper and Allan C. Hoffman are directors of the company

2. April 11, 1909 Daily Press Newport News, VA
Article from Daily Press, April 11, 1909

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TWO BANKING FIRMS CLOSE THEIR DOORS No Statement of Liabilities and Assets One Loaned Heavily to a Paper Company. (By Associated Piess) BINGHAMTON, N. Y., April 10. The Binghamton Trust Company and Knapp Brothers, private bankers, having offices in Deposit and Callic on, Y., suspended yestorday. The deposits of the Binghamton Trust Company. which closed its doors this morning, are woyer $3,000.000. The Knapp Brothers' bank. at Deposit, has deposits of about $450.000, and their Callicoon bank has about $300,000. These banks it is said, have made loans to a publishing company of Deposit amounting to over $700,000. Much of the paper from the Deposit and Callicoon banks has been taken by the Binghamton Trust Company. The Binghamton Trust Company has a capital of $300,000 and a surplus of $317,000 and its stockh Iders are liable for $300,000 more. It is believed that the loss to the trust company would reach $750,000 before the depositors would lose a cent. Former Congressman Charles J. Kna: P is president of the Binghamton Trust Company, his sen, Percy. is cashier and his nephew, Charles P. Knapp. managed the Deposit and the Callicoon banks. These men and several other members of the Knapp family are the principal owners of the publishing company.

3. April 13, 1909 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, April 13, 1909

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RECEIVERS FOR OUTING CO. Judge Appoints Men for Defunct Publishing Concern. Syracuse, N. Y., April 13.-Judge George W. Ray in the United States court here has appointed receivers for the Outing Publishing company of Deposit, publishers of the Outing, the Bohemian, the Grey Goose and Brains magazines and for Knapp Brothers bankers at Deposit and Callicoon. The Outing receivers were authorized to continue the business of the company for 30 days, to borrow a sum not exceeding $2,500 for that purpose.

4. April 14, 1909 The Citizen Honesdale, PA
Article from The Citizen, April 14, 1909

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Binghamton, Deposit and Callicoon Banks Close. SUSPENSION OF KNAPP BROTHERS Binghamton Trust Company in Hands of the State Banking Department-Much Excitement Along the Upper Delaware. Announcement of the closing of the doors of the Binghamton Trust company and the suspension of business of the Knapp brothers' private banks at Deposit and Calicoon, N. Y., on Friday last, occasioned much surprise and regret among many residents of the Northeastern counues of Pennsylvania, and Sullivan, Delaware and Broome counties in New York, whence most of their deposits were derived. As yet no reason has been given for the failure. C.J. Knapp, the presidentof the Binghamton Trust company is the wellknown leader and owner of Knapp's military band, which has a national reputation. He was rated asamillionaire, and it is known that he is interested largely in financial institutions in New York state. The Binghamton Trust company was capitalized at $300,000 and was supposed to be in a flourishing condition. During the past year the firm has advertised for patronage in the local newspapers offering four per cent. for deposits. When the crash came it caused quite a panic among the investors, especially in Binghamton and Deposit where the largest business was done. The institution had heavy depositors in Susquehanna and Carbondale, rumor having it that at least $100,000 of Susquehanna money is tied up by the suspension. There may have been some Honesdale investors, but inquiry fails to reveal any such losses as have been mentioned in the newspapers. The Trust Company was capitalized at $300,000, and had deposits of over $3,500,000 in Binghamton and the Depositand Callicoon branches. A dispatch from Binghamton dated April 9th, says that shortly before the hour for opening the banks that morning the Binghamton Trust Company posted a notice signed Clark Williams, superintendent of banks, announcing that the Binghamton Trust Company was in the hands of the state banking department. This was quickly followed by the announcement that the Knapp brothers, with private banks at Deposit and Callicoon, had suspended payment. The principal correspondent of the Binghamton Trust Company issaid to be the Chase National Bank, of New York. M. W. Hutchins, chief examiner of New York state banks, took charge of the institution. In a statement given out by the board of directors it was announced that the closing of the Binghamton bank followed the discovery of the insolvency of the Deposit and Callicoon banks. C. J. Knapp, president of the Binghamton bank, is connected with those institutions. They say that with the resources at hand and the liability of the stockholders, they hope to pay all claims in full and reorganize. The Binghamton Herald says that when James Knapp Reeves now of New York city, but then of Deposit, and Charles P. Knapp, of Deposit, decided to became the publishers of the Outing magazine, they sealed the fate of the only bank in Deposit, the private bank of Knapp Brothers and the only bank of Callicoon, N. Y., also that of Knapp Brothers. and incidentally thev decreed,

5. April 16, 1909 The Citizen Honesdale, PA
Article from The Citizen, April 16, 1909

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THE KNAPP FAILURE. From all accounts the people of Deposit and vicinity are greatly overcome by the Knapp Brothers' failure on Friday last. It is said that the closing of the bank is a death blow to many of the prosperous business men, dairyman and farmers of the territory between Binghamton and Port Jervis, and running over into northern Pennsylvania. But few residents of that section carried their savings in Binghamton, or Sidney, the two nearest points where other banks are located. From all points of the compass they came to deposit their hard-earned money at the bank there, or at Callicoon. Estimates are wild regarding the amount of money going up in the failure. The deposits are claimed to have amounted to about $450,000 in Deposit, and it is said that practically everything is lost to the depositors. At Callicoon the losses are said to be about $300,000. Both of these estimates are indefinite, but they are the only ones that can be obtained, since no member of the concern is talking definite figures. Wayne county people, especially in the Delaware river townships, are much greater sufferers than we were at first led to believe. It is said now that a $10,000 deposit was made by V. & F. T. Scheidell, merchants and creamery men of Jeffersonville, N. Y., on the day before the failure, the money being largely intended for the payment of Damascus, Lebanon, and Manchester dairy farmers, for milk delivered the firm. We hear of one Damascus business man who had $9,000 on deposit at Callicoon, and many others who will lose from a few hundred down. Augustus Hartung, formerly of Honesdale, proprietor a Callicoon notel, had $500 on deposit in that branch, which is probably gone beyond hope fo recovery in whole or in part.

6. April 16, 1909 The Citizen Honesdale, PA
Article from The Citizen, April 16, 1909

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DEPOSIT CRASH ! Receivers Appointed for the Outing Company. BANK EXAMINERS BUSY AT WORK Knapp Bros. Adjudicated Bankrupts on Voluntary Petition-Money Borrowed to Keep Printing Plant Running for Thirty Days. Application was made before Judge Ray in the United States District Court at Syracuse on Monday last for the appointment of receivers for the Outing Publishing Co., publishers of Bohemia, The Gray Goose, and Brains, at Deposit, N. Y. The order was granted, and with it an order adjudicating the company a bankrupt. The application was made by Knapp Bros., private bankers at Deposit and Callicoon, N. Y., who were also adjudicated bankrupts on a voluntary petition. C. J. Knapp of Knapp Bros. is president of the Binghamton Trust Company, which was closed on Friday of last week. Knapp Bros. had borrowed large sums of the Binghamton Trust Company and the Outing Publishing Company has a bond issue of $380,000. Its liabilities are said to amount to $750,000 and those of Knapp Bros. close to $1,000,000. These two are said to have involved the Binghamton Trust Company. Archibald Howard of Binghamton Walter S. Sullivan of New York and William H. Clark of Cortland were named receivers for the publishing company, and their bond was fixed at $25,000. They are allowed to borrow $2,500 and continue the business for thirty days. The receivers for Knapp Bros. are M. R. Howard, Henry L. Beach of Binghamton and Henry Putnam of Deposit, and their bond is $50,000. John Yokum, Jr., is president of the Outing company and Mrs. Yokum, a sister of the Knapps, is in the firm of Knapp Bros. The employees of the Outing Publishing Company were working on Monday. They were not paid on Saturday but agreed to continue work pending a settlement. The appointment of a receiver was deferred until the current issue of the Bohemian Magazine had been completed, and a carload of the magazines were shipped to New York, Monday. The bank examiners began the examination of the trust company securities and tallying up the cash in the vaults. It was announced that it would be a week before the State officers who are working on the accounts could give anything like an exact statement of the financial affairs of the Binghamton Trust Company. At the New York office of the Outing Publishing Company at 35 West Thirty-first street, the news from Binghamton caused no surprise, as in the nature of the case, it was said, the chain of difficulties involving the Knapp brothers' banks at Deposit and Callicoon and the Binghamton Trust Company must affect the Outing company. The Knapp brothers are the Outing company's backers, and it did most of its banking through the Binghamton company. The receivership, it was said, was not expected in any way to interfere with the issue of the Outing Magazine, which was in good condition currently although having been hit in the panic of 1907. Latterly the Binghamton Trust Company had been practi-

7. June 6, 1909 New-York Tribune New York, NY
Article from New-York Tribune, June 6, 1909

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C. P. KNAPP ARRESTED. Charged with Accepting Deposit After Bank Was Insolvent. Binghamton. N. Y., June 5.-Charles P. Knapp, president of the Outing Publishing Company, which is now in the hands of receivers, owner of Knapp's Millionaire Band and in charge of the defunct bank of Knapp Brothers in Deposit. N. Y.. was arrested in Deposit this morning on the complaint of Edith Crowley, of Deposit. on a charge of accepting a deposit of $50 after he knew the institution was insolvent. He waived examination and was held to answer to the grand jury by Enós Jester. justice of the peace. He was released under $2,000 bail. The arrest of Mr. Knapp is the first criminal proceeding resulting from the failure on April 9 of the Binghamton Trust Company and Knapp Brothers. private bankers, having institutions in Deposit and Callicoon, and the Outing Publishing Company. The failure of the private banks of Knapp Brothers is said to have been due to overloans to the Outing Publishing Company, and the failure of the Binghamton Trust Company is supposed to have resulted from the elesing of the Knapp private banks, in which it was financially interested to a more or less extent.

8. June 9, 1909 New-York Tribune New York, NY
Article from New-York Tribune, June 9, 1909

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"OUTING" SOLD FOR $30,000. Publication To Be Continued-Alleged Loans by Knapps. Binghamton, N. Y., June 3.-On approval of George W. Ray, United States Judge, the receivers of the bankrupt Outing Publishing Company, of Deposit, sold the magazine to Thomas H. Blodgett, its Chicago advertising agent, for $30,000. This magazine was considered to be the chief asset of the Outing Publishing Company and was appraised by the receivers at $50,000. Mr. Blodgett will continue the publication of the magazine, but where it will be published he does not yet know. He will take possession on July 1. The report of the appraisers of the bankrupt Knapp Brothers, private bankers, of Deposit, indicates that the Knapps loaned to themselves personally nearly $500,000 of the money deposited in their banks, and over $500,000 to the enterprises in which they were the principal stockholders. Their loans to themselves and their enterprises aggregated $1,006,000. of which about $320,000 was to the Outing Publishing Company and the balance on notes of different members of the Knapp family.

9. June 9, 1909 The Citizen Honesdale, PA
Article from The Citizen, June 9, 1909

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200 chickens. Large silo. Wayne county. Situated one-half mile fro village. Inquire at THE CITIZEN office. LOCAL MENTION. -Sixteen excursions have been book for the month of June, at Lake Lodo -Four promotions from Co. M, 17 Cavalry (162d Reg. P. v.) while in t three years service, to positions amo the field and staff officers, were made follows: Capt. Coe Durland to Liet Col. ; James Brannon, private, to S Major; Henry J. Tarble, private Hospital Steward, and Wm. C. Walk private, to Saddler. --On Thursday night the famo play, "The Burglar," will be given the Lyric Theatre for the benent the Eagles of this place. You shou not miss it. The cast of characte will be as follows: William Lewis Eugene LaR (Lately with Gardner-Vincent Co Leo Osbor Edward Bainbridge Joe Bodie, . Paul Benton W. W. Wo John Hamilton Clarence Gre James Edna Doolit Alice Ruth Lo Fannie Lizzie Denhar Martha and Editha Mary Wenig -By agreement between the co missioners of Susquehanna a Wayne counties and the Erie ra road, about $50,000 will be expen ed for public improvements. T Erie will build a bridge across tracks at Forest City. The counti will bridge the Susquehanna, a bridges will be built by the Ontar and Western Company at sever places. The improvement will cc nect Forest City in Susquehan county and Clinton in this county . -On Saturday evening William M loy was taken into custody by office John Canivan. On Wednesday a co mission in lunacy was appointed whi reported that Malloy was insane. 1 court thereupon issued an order that be taken to the Insane Hospital at Da ville. Detective N. B. Spencer and ( ficer Canivan went to East Honesda but could not find their man. Th searched the entire neighborhood, k met with no success. He was sub quently captured, however, and Monday was taken to Danville, by N. Spencer and John Burcher. -Charles P. Knapp, President the Outing Publishing Compar which is in the hands of receive owner of Knapp's Millionaire Bar and in charge of the defunct ba of Knapp Brothers, in Deposit, Y., was arrested in Deposit on Si urday morning on the complaint Edith Crowley on a charge of a cepting a deposit of $60 after knew the institution was insolve He waived examination and w held for the Grand Jury under $ 000 bail. The arrest of Knapp the first criminal proceeding resu ms from the failure of the Bir hamton Trust Company, Kna Brothers, private bankers, and t Outing Publishing Company. has been announced that Mr. Kna had secured a position as ch clerk of the New Monmouth Ho at Spring Lake Beach, N. J., whi opens on Saturday next, June 12 F. F. Shute, the proprietor, is personal friend of Mr. Knapp, a

10. June 11, 1909 The Citizen Honesdale, PA
Article from The Citizen, June 11, 1909

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A Binghamton message says that, on approval of George W. Ray, United States Judge, the receivers of the bankrupt Outing Publishing Company, of Deposit, sold the magazine to Thomas H. Blodgett, its Chicago advertising agent, for $30,000. This magazine was considered to be the chief asset of the Outing Publishing Company and was appraised by the receivers at $50,000. Mr. Blodgett will continue the publication of the magazine, but where it will be published he does not yet know. He will take possession on July 1. The report of the appraisers of the bankrupt Knapp Brothers, private bankers, of Deposit, indicates that the Knapps loaned to themselves personally nearly $500,000 of the money deposited in their banks, and over $500,000 to the enterprises in which they were the principal stockholders. Their loans to themselves and their enterprises aggregated $1,006,000, of which about $520,000 was to the Outing Publishing Company and the balance on notes of different members of the Knapp family.

11. October 3, 1909 New-York Tribune New York, NY
Article from New-York Tribune, October 3, 1909

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KNAPPS ARE INDICTED. Charged with Criminally Receiving Deposits in Insolvent Institution. Binghamton, N. Y., Oct. 2.-The Broome County grand jury to-day returned three indictments in connection with the recent Knapp bank failures. One is against Charles P. Knapp, of Deposit, and two are against Charles P. Knapp and Charles J. Knapp, of Binghamton, jointly. All the indictments charge criminally receiving deposits In an institution known to be insolvent. The indictments follow a series of failures last April, when the Deposit and Calicoon branches of Knapp Brothers, private bankers, closed their doors: the Outing Publishing Company, of Deposit, went into the hands of a receiver. and the Einghamton Trust Company was placed in the hands of the State Banking Department. Charles P. Knapp, whose name appears in all three indictments, was in charge of the Deposit branch of Knapp Brothers, was president of the Outing Publishing Company and owner of Knapp's Millionaire Band. Charles J. Knapp. of this city, was identified with the firm of Knapp Brothers and was president of the Binghamton Trust Company. He is an uncle of Charles P. Knapp. All the indictments relate to transactions by the firm of Knapp Brothers in Deposit and have no bearing on the Outing Publishing Company and Binghamton Trust Company affairs. Charles P. Knapp was arraigned on the first indictment and a plea of not guilty was entered, with the privilege of withdrawing the plea and entering a demurrer. His attorney announced that a motion for a change of venue would be made, and asked to have provision made whereby the case would not be sent to the next term of the County Court on October 18. C. P. and C. J. Knapp were arraigned on the two remaining indictments, and the same disposition was made in each case. Bail was fixed at $1,000 on each indictment. The deposits alleged in the indictments to have been criminally received were made by Ansell Barnes and William Halloway, in the joint indictment, and by Edith Crowley, in the individual indictment against C. P. Knapp. All are residents of Deposit.

12. October 13, 1909 The Citizen Honesdale, PA
Article from The Citizen, October 13, 1909

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BANKERS INDICTED. Charles J. and Charles P. Knapp Indicted. At Binghamton, Saturday, Oct. 3d, the Broome county grand jury returned three indictments in connection with the recent Knapp bank failures. One is against Charles P. Knapp, of Deposit, and two are against Charles P. Knapp and Chas. J. Knapp, of Binghamton, jointly. All the indictments charge criminally receiving deposits in an institution known to be insolvent. The indictments follow a series of failures last April, when the Deposit and Callicoon branches of Knapp Brothers, private bankers, closed their doors; the Outing Publishing Company, of Deposit, went into the hands of a receiver, and the Binghamton Trust Company was placed in the hands of the State Banking Department. Charles P. Knapp, whose name appears in all three indictments, was in charge of the Deposit branch of Knapp Brothers, was president of the Outing Publishing Company and owner of Knapp's Millionaire Band. Charles J. Knapp was identified with the firm of Knapp Brothers and was president of the Binghamton Trust Company. He is an uncle of Chas. P. Knapp. All the indictments relate to transactions by the firm of Knapp Brothers in Deposit, and have no bearing on the Outing Publishing Company and Binghamton Trust Company affairs. Charles P. Knapp was arraigned on the first indictment, and a plea of not guilty was entered, with the privilege of withdrawing the plea and entering a demurrer. His attorney announced that a motion for a change of venue would be made, and asked to have provision made whereby the case would be sent to the next term of the County Court on October 18. C. P. and C. J. Knapp were arraigned on the two remaining indictments, and the same disposition was made in each case. Bail was fixed at $1,000 on each indictment. The deposits alleged in the indictments to have been criminally received were made by Ansell Barnes and William Halloway, in the joint indictment, and by Edith Crowley, in the individual indictment against C. P. Knapp. All are residents of Deposit.

13. June 24, 1910 Newark Evening Star and Newark Advertiser Newark, NJ
Article from Newark Evening Star and Newark Advertiser, June 24, 1910

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BANKER KNAPP GETS TWO YEARS IN AUBURN. BINGHAMTON, N. Y., June 24 Charles P. Knapp, one of the firm of Knapp Brothers, private bankers, of Deposit, N. Y., which failed over a year ago, at the time the Binghamton Trust Company's doors were closed, was today convicted of receiving a deposit in his bank on the day before It closed, knowing at the time that the bank was insolvent. He was sentenced to Auburn prison for not less than fifteen months nor more than two years. The failure of Knapp Brothers was due to excessive and unsecured loans to the Outing Magazine's publishers, and it was the crash of the banking firm that caused the suspension and subsequent liquidation of the Binghamton Trust Company. Charles Knapp, an uncle of the man just convicted, and a member of Knapp Brothers, as well as president of the Binghamton Trust Company, is indicted on a similar charge, and his trial also is scheduled to be held in Otsego county.

14. June 25, 1910 New-York Tribune New York, NY
Article from New-York Tribune, June 25, 1910

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C. P. KNAPP CONVICTED Guilty of Receiving Deposit Knowing Bank Was Insolvent. Binghamton, N. Y., June 24.-Charles P. Knapp, one of the firm of Knapp Brothers, private bankers of Deposit, N. Y., which failed over a year ago, when the Binghamton Trust Company's doors were also closed, was to-day convicted of receiving a deposit in his bank on the day before it closed, knowing at the time that the bank was insolvent. The indictment was found in Broome County, but because of alleged adverse sentiment in this county the trial was held in Otsego County. before Justice Henry B. Coman. It has been in progress since June 13, the jury retiring late yesterday afternoon and reporting at the opening of court this morning. Knapp was immedilately sentenced to Auburn prison for not less than fifteen months nor more than two years. The failure of Knapp Brothers was due to excessive and unsecured loans to the "Outing" publishers, and it was the crash of the banking firm that caused the suspension and subsequent liquidation of the Binghamton Trust Company. Charles J. Knapp, an uncle of the man just convicted and a member of Knapp Brothers, as well as president of the Binghamton Trust Company. is indicted on a similar charge, and his trial is also scheduled to be held in Otsego County.

15. June 26, 1910 New-York Tribune New York, NY
Article from New-York Tribune, June 26, 1910

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longing to many other social organizations. was arrested in the Golden Gate city, and will be held pending the investigation by the grand jury and the police if the story told by Mrs. Grace B. Ellifritz, known also as Mrs. Grace Carter, whose testimony, backed by other evidence in the possession of the police, accuses Hidalgo of white slave' trafficking "Charles P. Knapp. one of the firm of Knapp Brothers, private bankers of Deposit, N. Y., which failed over a year ago, when the Binghamton Trust Company's doors were also closed, was convicted of receiving a deposit in his bank on the day before it closed. knowing at the time that the bank was insolvent. Knapp was immediately sentenced to Auburn prison for not less than fifteen months nor more than two years. "Police Commissioner Baker abolished the precinct plainclothes men who for years have been the mainstay of 'the system." Every one of the 203 men assigned to plainclothes duty in inspection districts was ordered to report in uniform to precincts far removed from their old hunting grounds. "Immediately following a personal conference with Commissioner of Accounts Fosdick, Mayor Gaynor made public a report charging Lawrence Gresser, President of Queens Borough, with knowingly signing fraudulent and forged vouchers for work stated to be worth nearly $4,000, which was actually never performed and was listed for payment on the billheads of dummy contractors, whose addresses were given at either the political headquarters of Prestdent Gresser's campaign manager or at his private residence. This follows a series of reports from Commissioner Fosdick when has sent two of President Gresser's official family to private life and has resulted in the indictment of seven others. "In Harrisburg, Penn., the Republican State Convention nominated John K. Tener, of Washington County, for Governor. Tener was born in Ireland, and was brought to this country by his parents, and worked about in different jobs until he struck baseball, when he developed into a 'star' pitcher, and finally became the mainstay of the old Pittsburg club. He saved his money. invested in a bank. and then quit baseball, much to Pittsburg's grief. "Governor Judson Harmon was renominated by the Democratic State Convention of Ohio by acclamation. and a resolution was adopted presenting him as the candidate of Ohio Democrats for nomination as the candidate of the party for President in 1912, "Invited to Oberlin College to receive degrees, the honors refused on their arrival, and then after leaving for Cleveland being recalled to receive the promised degrees. was the experience of Orville and Wilbur Wright, the Dayton aviators. They had been invited by the faculty, but found that the trustees of the institution were incensed at the action of the faculty and had refused to allow the degrees to be bestowed upon them. When they heard this the Wrighta departed for Cleveland. At the last minute the trustees relented and the Wrights were informed of the trustees' change of mind. They returned and received the degree of Doctor of Laws." "Air laws, I presume," commented Busy Man. "At least I don't know any others they are experts in. What a farce this conferring of honorary degrees threatens to become."

16. November 26, 1910 The Sun New York, NY
Article from The Sun, November 26, 1910

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CHAS. J. KNAPP ACQUITTED. Court Directs a Verdiet of Not Gallty in Insolvent Bank Case. BINGHAMTON Nov 25 Supreme Court Justice Gladding this afternoon directed a verdict of not guilty in the case of Charies J. Knapp of this city, formerly president of the Binghamton Trust Company. who was on trial at Cooperstown. Otsego county. on an indictment found in Broome county charging him with having criminally received depositsin Knapp Bros.' private bank at Deposit. knowing it to be insolvent The insolveney of the private bank in April, 1909. caused the suspension of the trust company. The motion that the Court direct the verdiet was granted before any evidence had been offered by the defence on the ground that evidence offered by the prosecution was insufficient to convict.