Rockland Savings Bank (Nyack, NY)

Episode Information

Episode UID
3683981590953
Episode Type
Suspension → Closure
Bank Type
savings
Bank ID
368398159 hash
Start Date
May 9, 1879
Location
Nyack, New York (41.091, -73.918)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
307a1cc6e16ddbde

Response Measures

None

Description

The articles describe the aftermath of a failure (receivership and criminal trials) rather than the suspension event itself.

Events (2)
1. May 9, 1879 Receivership
Newspaper Excerpt
the suit of Receiver Wm. J. Green against Samuel W. Canfield and others, trustees of the Rockland Savings Bank, for moneys misapplied or wasted by them, was finished to-day
Source
newspapers
2. * Suspension
Cause
Bank Specific Adverse Info
Cause Details
Embezzlement and perjury by the bank's president and secretary.
Newspaper Excerpt
the suit of Receiver Wm. J. Green against Samuel W. Canfield and others, trustees of the Rockland Savings Bank, for moneys misapplied or wasted by them
Source
newspapers

Newspaper Articles (2)
1. May 10, 1879 The Sun New York, NY
Article from The Sun, May 10, 1879

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Article Text

Verdict Against Savings Bank Officers. NYACK. May 9.-In the Rockland County Circuit Court, before Judge Dykman, the suit of Receiver Wm. J. Green against Samuel W. Canfield and others, trustees of the Rockland Savings Bank, for moneys misapplied or wasted by them, was finished to-day, and a verdict for $36,530, with allowance of cost and interest, making in all about $42,000, given for the plaintiff against Samuel W. Canfield, the President, and Richard P. Eells, the Secretary, of the bank. The jury found in favor of the other defendants. The indictments against Canfield and Eells for perjury and embezziement will be tried on the 27th inst.

2. May 6, 1880 Evening Star Washington, DC
Article from Evening Star, May 6, 1880

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Article Text

Savings Bank Officers Sent to Jail. NYACK. N. Y., May 6. - The indictments against Samuel N. canfield, president. and Richard P. Eells, secretary of the Rockland Savings Bank, for perjury and embezzlement, were postponed to the June term. on the motion of the defendants' counsel. They were both afterwards arrested on an execution against the body on a judgment for $38,000 obtained by the receiver or the savings bank in a civil suit brought to recover the money they were charged with embezzling, and were committed to the Rockland county jail in default of bail.