National Bank of Deposit (New York, NY)

View Charter #3771 on SPMC View balance sheet

Episode Information

Episode UID
377101121
Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
37710 national
Charter Number
3771
Start Date
May 23, 1893
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
6ff231724294d35b

Response Measures

Full suspension, Books examined

Clearinghouse involved: Yes (loan, examination, or other measures)

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1893-06-09
Date receivership terminated
1894-06-15
OCC cause of failure
Losses
Share of assets assessed as good
78.4%
Share of assets assessed as doubtful
21.6%

Description

Depositors' withdrawals and a clearing-house refusal precipitated closure; Comptroller later placed the bank in receivership.

Events (7)
1. August 5, 1887 Chartered
Source
historical_nic
2. May 23, 1893 Run
Cause
Rumor Or Misinformation
Cause Details
Circulating rumors and loss of depositor confidence led to rapid withdrawals and falling deposits; Seaboard National refused to clear its paper.
Measures
Depositors convened meetings; bank officials proposed transfer of assets to trustees to avoid receivership; attempted liquidation by trustees.
Newspaper Excerpt
rumors affecting the bank have been in circulation for some days, causing the deposits to fall off very rapidly
Source
newspapers
3. May 24, 1893 Suspension
Cause
Government Action
Cause Details
Bank examiner took possession after the bank closed its doors; depositors and directors sought trustees to wind up affairs but examiner custody followed.
Newspaper Excerpt
Bank Examiner William H. Kimball, who took charge of the National Bank of Deposit yesterday
Source
newspapers
4. June 9, 1893 Receivership
Source
historical_nic
5. June 15, 1893 Receivership
Newspaper Excerpt
Mr. McClure took possession of the bank as receiver June 15, 1893, and the task of paying depositors 100 cents on the dollar has been accomplished in less than eight months.
Source
newspapers
6. July 15, 1893 Other
Newspaper Excerpt
the controller authorized the payment of a dividend of 40 per cent. to the creditors of that bank upon the proof of claims filed with the receiver
Source
newspapers
7. February 15, 1894 Other
Newspaper Excerpt
the executed dividend and payments made by receiver equal 100 per cent. on the face value of deposits; depositors paid in full
Source
newspapers

Newspaper Articles (25)
1. February 16, 1893 The Caucasian Raleigh, Goldsboro, Clinton, NC
Article from The Caucasian, February 16, 1893

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# SUSPENSION OF SPECIE AND LEGAL TENDER PAYMENTS IN NEW YORK AND SUPPRESSION OF THE FACT AT THE PUBLIC PRESS. It is Difficult to Believe it but the Govern- ment has to Make Concessions to the Gold Devils. # REPUBLICANS AND DEMOCRATS COMBINING. (Independent News Ass'n Dispatch) WASHINGTON, D. C., Feb. 15. If the press associations cannot now be convicted of standing in with the Wall Street Gang then the Republic is drunken with folly. In 1862 the nation was plunged headlong into bankruptcy, and chained a captive debtor to the stock Tiger, by the public press, seduced by the purposes of the Bank of England. Today the harlot press rides IN the coach with the yellow monarch; for Specie Payments have been suspended in New York the past week, and legal tender refused! The plutocratic press will deny this, but is the truth! The Independent News Association got it by private (gain) wire N. Y. to Chicago, and to Washington-not sent in Mondays report, not being confirmed. It is now confirmed. And it is urged to belittle the matter, that this refusal of banks to pay out gold "or even legal tenders," had the effect to "once more start agitation!" But it is said to us that this refusal of banks to "part with their gold" really amounts to nothing, inasmuch as the United States treasury is the "actual gold reserve of the nation." Yes, but the total government funds at liberty are but $25,000,000!-and the expenditures the last seven months have been largely in excess of receipts! and the coming year insures a still worse condition! We not only deny that the government has gold to send out, but maintain emphatically that this great Republic is a beggar on its knee bones to New York Banks, making overtures and terms for gold for current use! Charged with this, Foster says he don't want to talk on the subject; that he employed no "unusual" means to obtain gold from the banks! Nor did he explain where next week's export would come from! They are treading on the verge of an abyss. Our desperate informant assures us that "legitimate talk of premium on gold [it is already paid by France in our market] is out of the question unless the government refuses to give gold!" But how can the government "give" without buying, or rescinding its rule permitting imports to be paid in paper. This matter may be but temporary, but it shows the desperate danger of a single-standard, gold-bug policy. The Ind. News Ass'n positively asserts that at this very hour, France. a Silver $50 a-head nation is paying interest-in-transit to draw in gold while the trained idiots across the ocean kill silver, have $10 a-head money, and-lose their gold! The republican party is in rapid process of absorption into the one great Cleveland legion of plutocracy. Harrison even appoints a democrat to the supreme judgeship and Cleveland selects a republican to go into his cabinet. Radical republicans are howling, crazy mad! Papers will not give on-tenth of the sulphurous eruption. Lest it be suppressed we send a copy of J. S. Clarkson's telegram to Houk: HON. JOHN C. HOUK.-Harrison's betrayal of republican principles and abandonment of the helpless republicans of the south by the appointment of Jackson to the supreme bench is an outrage that no self-respecting republican can either endorse or forgive. I have sent protest to Senator Cullom one of the old time republican leaders. Please see it. JAMES S. CLARKSON. Houk, a southern republican responds in even stronger language. But it is of no use to protest. It was fixed up in New York, with the full knowledge of Grover Cleveland and both the military centralization in this country and the silver brick case entered into consideration, and party interests did not. The proof of this will appear before Cleveland's first three months are over. It is plutocracy or the people-and Cleveland is plutocracy. "Siva" published truths in his prophecies of Cleveland and Empire, six years ago. Cleveland and Carlisle talked Jackson before Harrison did, and Wall Street played the game. An amusing episode took place in the House one morning recently, just before the session began. Chief Wolf of the Paloise tribe of Washington Indians in all the glory of a red blanket and red paint, was taking in the sights. After strolling around the hall for a while he walked up to the Speaker's chair and taking a seat therein and calmly surveyed the members who were in their seats reading newspapers or writing letters. While he was sitting there a witty member remarked: "That's the first savage who has occupied the Speaker's chair since Reed vacated it." Reed was sitting near by and heard the remark, and he joined in the laugh which followed. Outrageous falsehoods have been scattered throughout the west about Senator Kyle-stating that he voted against a bill to permit settlers to prove up tree claims as homesteads after a term of years. The absolute fact is that the populist Senator Kyle, of South Dakota, was the father of the bill, and Senator Pettigrew, republican of South Dakota, the man who smothered Kyle's bill. The Ind. News Ass'n has looked the matter up on request of a South Dakota journal, and Pettigrew does not appear well on the record. # GOLD KINGS SNUBBED AGAIN. The bill to repeal the Sherman law received its quietus in the house on Thursday afternoon. The galleries were crowded, and a great debate expected. But it was cut off by a few time speeches and a motion for the previous question-which carried by 153 yeas to 141 nays. It was then promptly voted by two to one to recommit the bill. It is there.

2. May 23, 1893 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, May 23, 1893

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FAILURES. DENVER, May - A receiver was today appointed for the real estate firm of John M. Berkley & Co., which the petitioner, Charles Donnelly, alleges is indebted to various persons and firms in not less than $300,000, and is insolvent. V.F. Farnum, the junior member, says that the obligations are secured, and that if the firm could realize on their local real estate they could pay $2 for $1. They were forced to the wall by eastern creditors calling in loans. The firm was unable to sell the property except at a sacrifice; hence the failure. Most of the creditors are eastern men, but a list cannot be obtained Assignee Harper today filed the statement of William Mygatt of Denver, who failed recently. The assets are but $192,000, instead of $596,000, as formerly stated, while the liabilities are over $500,000. The creditors are mostly New York and Boston men. NEW YORK, May 22 The National Bank of Deposit IS in trouble, but it is said that the clearing house will not let it faii. The capital is $300,000 and the bank is said to have a surplus of $60,000. The Seaboard National bank today gave notice that it would not clear tomorrow for the National Bank of Deposit. Cashier Hanford of the latter says that his bank is solvent. At a directors' meeting, under the advice of the clearing house committee, the bank decided to go into liquidation. The depositors will be paid in full and it is believed that the stockholders will realize 100 cents on the dollar. NEW YORK, May -The Domestic Sewing Machine company was placed in the hands of the sheriff today under attachments secured by the Astor Place bank aggregating $26,000. It appeurs that the company got a loan of the bank in Jan uary, giving its assets as $1,259,000 and its liabilities as $616,000. The bank now

3. May 24, 1893 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, May 24, 1893

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Market-Domestic Sewing Machine Co. Served With Attachments, and the Elmira National Closes Its Doors. NEW YORK, May 24.-The business community had hardly recovered from the surprise over the announcement that the National Bank of Deposit had closed its doors and that attachments had been entered against the Domestic Sewing Machine Company, when the news came that the old firm of Ives, Blakeslee & Williams, dealers in toys, games and fireworks was in the hands of a receiver. While the closing of the National Bank of Deposit was not unexpected, it caused a general flurry in business circles. Rumors affecting the bank have been in cirreulation for some days, causing the deposits to fall off very rapidly. Then the Seaboard National refused to clear for it, and nothing was left for it but to wind up its affairs. President L. Ransom and Mr. Kimball were in consultation the entire day. Mr. Ransom later announced that a meeting of the depositors will beheld this afternoon, for the purpose of adopting a plan for the speedy liquidation of their accounts. Some of the depositors called at the bank yesterday and were assured that affairs were not in as bad shape as appeared on their face. He hoped to pay all depositors in full and pay 100 cents on the dollar to the stockholders. The Domestic's trouble was an entire surprise and the company's dilemma seemed inexplicable. The attachments aggregating $27,343, has been caused by the sudden removal of the executive offices of the company from 853 Broadway to Newark, N. J. It is said that this action is due to avoid other attachments being placed here, and SO protect the receipts of the company, which is a foreign corporation. It is also said that the removal is made to avoid the payment of taxes here. The store of the company at No. 853 Broadway continues in charge of the sheriff to-day, but without any interference in the business. The officers of the concern are very reticent. Those who are familiar with the company's condition say that the tightness of the money market has found it in straits. It has large quantities of paper out which is held by many banks. The Broadway bank is said to hold $100,000 worth. What action the banks will take cannot be learned. They are known not to hold the same views as the Astor Bank people with regard to the statements of Vice-President Blake. The Union Square bank is one of the banks with which the sewing machine company had dealings. The president of that bank said yesterday that the standing of the company is satisfactory to them. He blames the cause of the company's difficulties to tight money. A majority of the trustees of the firm of Ives, Blakeslee & Co., at 294 Broadway asked Judge McAdam to appoint a re ceiver. John J. Connelly, a lawyer of 51 Chambers street. was appointed. An order requiring all persons to show cause on May 29 next why the corporation should not be dissolved was also granted. It is said in the petition for the receiver that because of the depression of trade, poor collections for the sale of goods, small sales, temporary lack of demandand the extreme and unusual stringency of the money market, it way impossible to pay pressing obligations. Notes disounted to the amount of almost $100,000 have been maturing at the rate of about $50,000 a month. The liabilities are $261,848.63, including notes to the amount of $30,000 upon which the company is liable as indorsed.

4. May 25, 1893 The Morning News Savannah, GA
Article from The Morning News, May 25, 1893

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GOTHAM'S CLOSED BANK. A Chance That the Appointment of a Receiver May Be Avoided. New York, May 24.-Bank Examiner William H. Kimball, who took charge of the National Bank of Deposit yesterday, said this morning that there was a fair chance of the appointing of a receiver being avoided. The depositors, stockholders and directors met this afternoon to adopt a plan for winding up the affairs of the bank. If they can agree and fix upon a committee to take charge of affairs a receivership can be avoided. Otherwise some one will have to be appointed to close up the business of the bank. President Ransom is still hopeful of making a good showing for the stockholders.

5. May 25, 1893 The Roanoke Times Roanoke, VA
Article from The Roanoke Times, May 25, 1893

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To Avoid a Receivership. NEW YORK, May 24.-Bank - Examiner William H. Kimball, who took charge the National Bank of Deposit yesterday, said this morning that there was a fair chance of the appointment of a receiver being averted. The depositors, stock. holders and directors will meet this afternoon to adopt a plan for winding up the affairs of the bank. If they can agree and flx upon a committee to take charge of affairs the receivership can be avoided. Otherwise some one will have to be appointed to close up the business of the bank. President Ranson is still hopeful of making a good showing for the stockholders.

6. May 25, 1893 New-York Tribune New York, NY
Article from New-York Tribune, May 25, 1893

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DEPOSITORS MAKE A FUSS. STORMY MEETING OF THE NATIONAL BANK OF DEPOSIT'S CREDITORS. A DOARD OF TRUSTEE: TO SETTLE THE AFFAIRS OF THE CONCERN-PRESIDENT RANSOM'S STATEMENT. As a result of the meeting of the depositors of the National Bank of Deposit. held yesterday afternoon in the rooms of the Board of Trade and Transporta tion, at No. 203 Broadway, the affairs of the bank are to be placed in the hands of a board of trustees. to be appointed by the depositors. The bank will assign :0 the trustees all its corporate property and assets, with power to realize upon the same and to pay the depositors and other creditors pro rata. The depositors and creditors practically agree to release the bank from all liability and responsibility. but not to release the stockholders of any liability now provided by law. The meeting was held at the suggestion of the bank officials. It was a long and nolsy one, and one in which the depositors made all kinds of random motions, without regard to parliamentary order. There were probably about 300 depositors present. and all cried for their money. but offered no feasible plan for getting it. Most of them made lots of noise. Had it not been for the calmness of a few men, well versed in the law of finance, little would have been accomplished. William W. Goodrich, of No. 59 Wall-s was made chairman of the meeting, and J. K. Hayward secre tary. The first motion was that a committee be ap pointed to inform the bank officers that the depositors would receive any communication from them. Anthony P. Porter, counsel for the bank. announced that that would be unnecessary. as he had the communication with him. He said that the depositors would realize more If the bank were not placed in the hands of a receiver. and that the best way to overcome this would be to appoint five trustees. including the pre-ident of the bank, who would be empower d to take charge of the assets of the bank and realize what they could on them. He said that the assets of the bank. including loans secured by notes and checks out for collection, amounted to $1,196,241 62, the liabilities exclusive of stock, to $888,385.82. and cash on hand about $200,000. Mr. Porter informed the depositors that they must sign a paper releasing the bank from all their claims. The question was then raised if the stockholders were to be release 1 from all liability. and Mr. Porter promIsed that they would not be. The depositors did not take kindly to Mr. Porter's ideas at first, and then spent an hour In making all sorts of motions which amounted to nothing. Mr. Porter said that unless the depositors came to some satisfactory agreement within twenty-four hours a receiver would be appointed. W. S. Smyth, a small depositor. then began the noise of the afternoon. He wanted to know how soon he could get his money and at what cost. "Of course every institution has a lot of cats and dogs hanging to 11," he said, but we cannot wait for our money. We want it right off. We want all we can get, and quickly." Shouts of Slt down," and Don't get all your ora tory on us." stopped Mr. Smyth for the time, but throughout the rest of the meeting he seemed to be the disturbing element. President Ransom came in shortly afterward. He looked pale and somewhat concerned at the noisy depositors. who were all trying to talk at once. He read the following statement about the condition of the bank: Checks out. $139,888; cash in bank, 845,470. The liabilities amount to $200,000. so that it would take only $688,000 to pay all depositors. There are over $1,000,000 worth of good assets to do It with, and without court delay you could settle up in sixty or seventy days. The examiner has reported to the Controller that everything 1. satisfactory." Many questions were then asked of Mr. Ransom. Men became excited and conflicting motions were offered from all parts of the room. During the noise the Irrepressible Mr. Smyth shouted. "Give me money, and give It to me quick." He was soon forced to subside, amid hisses and jeers. When the chairman finally succeeded in bringing the meeting to order a motion was made to accept the plans offered by the bank, and a committee was appointed to examine the paper before it was signed. The comtrittee is J. K. Hayward, Eldon Bisbee, F. B. Taylor. A. B. Porter and Thomas Kilvert. The meeting then adjourned until this morning at 9 o'clock. The committee met at the office of Mr. Porter later In the evening, and drew up a new agreement. in accordance with the plan already outlined. Mr. Kimball, the Bank Examiner, said yesterday that the checks and drafts of the bank's customers were being presented, and in cases where the drawers had made no special provision for their payment since the failure they were being protested. Mr. Kimball did not think that other failures would result the failure of the bank. Many of the country banks from which deposited with the National Bank of Dedosit have secured other New-York agents. The Bank of the Republic has given pay the Bank of Columbia, National Bank will for chants The will Hanover for pay Columbia, notice the that S. Mer- C. it and Farmers' Bank, of Marion, S. C.: for Adams County Bank. of Ritzville, Washington : the Herre National Bank, of Pierre, S. D., and the for

7. May 26, 1893 New-York Tribune New York, NY
Article from New-York Tribune, May 26, 1893

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DEPOSITORS FEEL MORE CONFIDENT. A BOARD OF TRUSTEES TO MANAGE THE AFFAIRS OF THE BANK OF DEPOSIT. The depositors of the National Bank of Deposit met again yesterday morning at No. 203 Broadway. and after a noisy session. similar to that held on Wednesday afternoon, decided to stand by the decision reached at the first meeting. which was to prevent the bank from being placed in the hands of n receiver, and to turn over Its affairs to a board of trustees appointed by the depositors. It had been decided at the meeting held the day before to appoint the president of the bank on the board of trustees, but the question came up yesterday whether he could legally serve on the board. The Law Committee, composed of F. B. Taylor, J. W. Hayward, W. W. Goodrich and Eldon Bisbee, announced that there would be no legal objection to his serving. The depositors were unanimous in their approval of his becoming one of the trustees. W. W. Goodrich. the chairman. appointed the following depositors with the president, L. E. Ransom, to act as the board of trustees: W. W. Goodrich, J. W. Riglander, W. C. Humstone and J. B. Bowden. The committee was authorized, in case any of the trastees should die or resign. to appoint successors. The Law Committee, appointed on Wednesday to draw up an agreement by which the bank could be kept out of the hands of a receiver, then made Its report. According to this report, It is agreed by the depositors that all the assets of the bank shall be transferred to a board of trustees, who shall realize on them as much as they can, and then distribute the proceeds, first to the depositors and other creditors. pre rata, and in accordance with any preference as now provided by the United States Banking law, and the residue, If any, to the stockholders, according to their respective holdings. The trustees are to serve without compensation. The deposItors are to release the bank from all liability and responsibility to them with respect to their claims against the bank. but on the understanding that nothing shall be construed to be a release or discharge of any liability on the part of any stockholder: the stockLolders agreeing, in case of the assets proving Insufficient, to pay all depositors and other creditors such an amount as shall be required to make up the deficiency to the extent of the par value of the stock.

8. May 27, 1893 The Washington Bee Washington, DC
Article from The Washington Bee, May 27, 1893

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In Financial Trouble. The Elmira National Bank closed its doors Tuesday morning. The bank's failure is the result of the recent financial troubles of Col. D. C. Robinson. The deposits in the bank amount to about $200,000 and will be paid in full. The suspension of the bank caused a big run on the Elmira Savings Bank, but all demands were promptly met. The big toy firm of Ives, Blakeslee & Williams, in New York city, with branch stores at Bridgeport, Conn., Elkland, Pa., and Chicago, Ill.. has gone into the hands of a receiver. The liabilities are $261,848, and assets $70,298. The National Bank of Deposit in New York city was forced to suspend and is now in possession of the Comptroller of the Currency. The Exchange Bank of Tingley, Iowa, has suspended, and the cashier, Robert Bennet, has left for parts unknown. The cash has also disappeared. Deposits were received up to the day of closing.

9. May 28, 1893 Tombstone Epitaph Tombstone, AZ
Article from Tombstone Epitaph, May 28, 1893

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Judge Ross. msno ST. e west bound Missouri senger train was held and up tobacco .hirty miles west of St. Louis last night by six men. Over $5,000 was secured. The express and railway officials say the amount obtained was probably in excess of their estimate, None of the passenger cars were entered. Governor Stone and State Treasurer Stephens were aboard, and the former at once offered a $300 reward for the conviction of the bandite. A posse is after them and it is thought they will soon be captured NEW YORK-Bank Examiner Wm. H. Kimball, who took charge of the National Bank of Deposit yesterday, said this morning that there was a fair chance of the appointing of a re. ceiver being avoided. The depositors, stockholders and directors will meet this afternoon to adopt a plan for winding up the affairs of the bank. NEW YORK-The Van Waguer & Williams Co. of 14 Warren street, wholesale dealers in hardware, have failed. Today they were attached for $13,000 and a receiver was appointed. The firm had a very high credit and transacted the second largest business among the wholesale hardware houses in this city. The company is capitalized under laws of the state of New Jersey for $150,000 and have property in this city, Brooklyn and Cleveland. It is not believed that the creditors will sustain a very heavy loss. No statement of assets and liabilities has been made. SAN ANTONIO-In the federal court here this morning fifteen of the Mexican revolutionists were sentenced to terms of imprisonment for violation of the U.S. neutrality laws. GRANADA-Additional details of the ecisive battle of Barranca Pass near Mayasa show that it was even more disastrous than it was at first believed to be. Reliable data shows that the government's losses were 155 killed and 297 wounded. PEORIA, III.-The Whisky Trust Directors held a secret session at their beadquarters today. Presidedt Greenbut said he could give no idea of what action will be taken. All the recent troubles are to be taken and pre parations would be made to fight them. The directors participating in the meeting were President Greenhut Vice President Beggs, Secretary Hennessy and Treasurer Stuart. PLYMOUTH, Iowa-While at supper last evening, Charles Towne and wife respectable people who reside two miles north of Plymouth, were sho by an unknown man. Several chot were fired through a window. Bott. victims are yet alive. Towne may recover, but the woman is in a critical condition. The motivefur the deed imystery.

10. June 2, 1893 The Iola Register Iola, KS
Article from The Iola Register, June 2, 1893

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THE EAST. THE National Bank of Deposit at New York has suspended. THE Elmira, N. Y., National bank has closed its doors. PRESIDENT McLeod has retired from the Boston & Maine railroad. A SYNDICATE has been formed at New York to handle $6,000,000 worth of bonds which representatives of the Cherokee Indians are endeavoring to place. IT is authoritatively stated that Carlyle W. Harris, the executed wife poisoner, caine near cheating justice by taking poison on the eve of his execution. TEE New York Herald denies that it is to be turned into a joint stock concern, but that efforts are being made to make the paper a co-operative institution for the benefit of all employed. FOREST fires are raging in the vicinity of Staffordsville and Union, Conn. THE Atlantic tannery property at South Salem, Mass., operated by Poor Bros., occupying over ten acres covered with manufacturing buildings, was destroyed by fire. The total loss was $250,000. THE Pennsylvania and the Lake Shore roads have given their employes two weeks' vacation with transportation to and from the world's fair. IN order to avert further attachments the general offices of the Domestic Sewing Machine Co. was removed from New York to Newark, N. J. LIGHTNING killed seven blooded cows in a herd of eighty at Port Jervis, N. Y., the other day. A NEW anti-Tammany organization has been launched in New York city. It is called the "citizens' democracy." FRANCIS WEEKS has been removed from the trusteeship of the estate of William Edgar Howland at New York. He had stolen the entire $500,000.

11. June 2, 1893 Asheville Daily Citizen Asheville, NC
Article from Asheville Daily Citizen, June 2, 1893

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MUST INSURE STABILITY. Proposing To Start a Failed Bank. WASHINGTON, June 2.-President Ransom and Attorney Porter, representing the failed National Bank of Deposit of New York, had a conference with Comptroller Eckles this morning as to permitting the bank to resume business. Comptroller Eckles told them that his present information was the bank would have to be placed in the hands of a receiver, but he would give them a reasonable time to make good its impaired capital. A committee consisting of Messrs. Bennett and Strait representing the failed Chemical National bank of Chicago also had a con crence with Comptroller Eckles WI... a view to the bank resuming business. They were assured that if they could present evidence insuring the stability of the bank in the future they would be permitted to resume.

12. June 3, 1893 The Times Richmond, VA
Article from The Times, June 3, 1893

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BANKS WANT TO RESUME. Officers of Two Institutions Confer With the New Comptroller. WASHINGTON, June 2.-President Ransom and Attorney Ibeter, representing the failed National Bank of Deposit, of New York, had a conference with Comptroller Eckels this morning as to permitting the bank to resume business. Comptroller Eckels told them that his present information was that the bank would have to be placed in the hands of a receiver, but he would give them reasonable time to make good its impaired capital. A committee, consisting of Messrs. Bennett and Strait, representing the failed Chemical National Bank, of Chicago, also had a conference with Comptroller Eckel, with a view to the bank resuming business. They were assured that if they could present evidence insuring the stability of the bank in the future, they would be permitted to resume.

13. June 3, 1893 The Morning News Savannah, GA
Article from The Morning News, June 3, 1893

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BANKERS WANT TO RESUME. The Chemical of Chicago and Gotham's Bank of Deposit Want to Reopen. Washington, June 2.-President Ransom and Attorney Porter, representing the failed National Bank of Deposit of New York, had a conference with Controller Eckels this morning as to permitting the bank to resume business. Controller Eckels told them that his present information was that the bank would have to be placed in the hands of a receiver, but he would give them a reasonable time to make good its impaired capital. A committee consisting of Messrs. Bennett and Strait, representing the failed Chemical National Bank of Chicago, also had a conference with Controller Eckels with a view to the bank resuming business. They were assured that if they could present evidence insuring the stability of the bank in the future they would be permitted to resume.

14. June 3, 1893 The State Chronicle Raleigh, NC
Article from The State Chronicle, June 3, 1893

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May Have to Go into the Hands of a Receiver. By Southern Associated Press. WASHINGTON, June 2.-President Ransom and Attorney Porter, representing the failed National Bank of Deposit of New York, had a conference with Comptroller Eckels this morning as to permitting the bank to resume business. Comptroller Eckels told them that his present information was that the bank would have to be placed in (the hands of & receiver but he would give them reasonable time to make good its impaired capital. A committee, consisting of Messrs. Bennett and Straight, representing the failed Chemical National Bank of Chicago, also had a conference with Comptroller Eckels with a view to the bank resuming business. They were assured that if they could present the evidence insuring the stability of the bank in the future they would be permitted to resume.

15. June 3, 1893 New-York Tribune New York, NY
Article from New-York Tribune, June 3, 1893

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AFFAIRS OF THE BANK OF DEPOSIT. Washington. June 2.-President Ransom and Attorney Porter, representing the failed National Bank of Deposit of New-York, had a conference with Controller Eckels this morning as to permitting the bank to resume business. Controller Eckels told them that his present information was that the bank would have to be placed in the hands of a receiver, but he would give them reasonable time to make good its impaired capital. A committee consisting of Messrs. Bennett and Strait, representing the failed Chemical National Bank of Chicago. also had a conference with Controller Eckels with a view to the bank resuming business. They were assured that If they could present evidence insuring the stability of the bank in future they would be permitted to resume. The signatures of 675 out of the 800 depositors of the National Bank of Deposit have so far been recelved consenting to the appointment of trustees to take charge of the liquidation instead of a receiver. It is understood. however, that some of those who have not signed are strongly opposed to the plan, and prefer to have a receiver. In view of the doubts that have been raised as to the legality of the action of trustees and their lack of power and responsibility under the circumstances, it is more than likely that the Idea will have to be abandoned, and that a receiver will be appointed. Mr. Kimball, the National bank examiner. said yesterday that he expected to be relieved from the custody of the bank within ten days.

16. June 3, 1893 The Sun New York, NY
Article from The Sun, June 3, 1893

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Another Bank in Ohio Goes Down. CLEVELAND. June 2.-A despatch from Paulding. O., to the Plaindealer says: "Potter's Bank. the oldest bank in Paulding county. and heretofore considered one of the safest. closed its doors this morning. The bank was established in 1874. and has always done a large banking business. Information as to the cause of the assignment seems hard to get. President H. M. Ayers and Vice-President Potter have nothing to say. and Cashier Sponsler is not to be found. Several township treasurers were caught for many thousand dollars. and the whole town will suffer from the failure. Complaint is made that the officials received money up to 4 o'clock. the closing hour. last evening. Following. as it does. on the heels of the assignment of M. C. Powell, the oldest and largest dry goods house in the county. it practically brings business to a standstill in Paulding. The United States National Bank. 41 Wall street. is the New York correspondent of Potter's Bank. at Paulding. O., which suspended yesterday. Cashier Hopkins of the United States Bank said that Potter's Bank never had a balance of more than a few hundred dollars with them. It did most of its business with banks.in Cleveland. The Bank of Deposit May Escape a Re. ceiver. WASHINGTON. June 2.-President Ransom and Attorney Porter. representing the failed National Bank of Deposit of New York. had a conference with Comptroller Eckels this morning as to permitting the bank to resume business Mr. Eckels told them that his present information was that the bank would have to be placed in the hands of a receiver. but he would give them a reasonable time to make good its impaired capital. It is said now that when the depositors of the National Bank of Deposit. by signing off their claims shall have made the bank solvent. 80 that a receivership will be unnecessary. the Comptroller of the Carrency. under the law. will require that the directors of the bank. and not the trustees recently :designated by the depositors. carry out the work of liquidation. The directors can call on the trustees as advisers. If the depositors disapprove of this plan the alternative is application for a receivership. Mayor Robinson's Overdrafts Reduced to $20,000. ELMIRA. June 2.-Thirty thousand dollars more in securities were returned to the Elmira National Bank to-day. This reduces Col. Robinson's overdraft from $114,000 to $20,000. Papers in a civil action for $25,000 were served on Col. Robinson to-day. It is said that the action is brought by the Western National Bank of New York city.

17. June 3, 1893 Baxter Springs News Baxter Springs, KS
Article from Baxter Springs News, June 3, 1893

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THE EAST. As NEW anti-Tammany organization has been launched in New York city. It is called the "citizens' democracy." FRANCIS WEEKS has been removed from the trusteeship of the estate of William Edgar Howland at New York. He had stolen the entire $500,000. MR. AND MRS. CORNELIUS VANDERBILT had a narrow escape from death in a runaway. THE item stating that the Seaboard National bank of New York was in difficulties was a mistake. It was the National Deposit bank that was in difficulties with the Seaboard National, the latter having thrown out the Deposit bank's paper. A FIRE burned the store of T. P. & D. Runyon, the ice house. stables, wagon houses and ships of John Collier, the double brick tenement house of John Deinzer and a number of other small buildings at New Brunswick, N. J. Loss, $125,000. BERNARD H. GUETERBACH. city editor of the Staats Zeitung, of New York, committed suicide by shooting himself through the breast. A NEW YORK judge has decided that pending the enforcement of the Geary law no Chinaman who has been arrested can be kept in jail. THE bloom-mill, engine-room and boiler-house of the Lackawanna Steel Co.'s north mill at Seranton, Pa., were destroyed by fire. Loss, $250,000. ZIMMERMAN, of the New York Athletic club, won two amateur races at Paris on the 29th. IT is reported that the bankers of New York have formed a combination and agreed among themselves to bid only 95 cents for the Cherokee bonds. THERE was a run on the Rutland, Vt., savings bank. HIRAM KEMPINSKIE, Bridgeport, Conn., is to sue the Russian government for damages. AT Tyrone, Pa., the train of Walter was many Mains' persons circus and seriously wrecked, wounding killing four others. A number of the animals were killed and some escaped. Gov. FLOWER, who has had the cases of Mortello and Osmond, the murderers, under consideration for some time, decided to let the law take its course and they will both be killed by electricity.

18. June 4, 1893 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, June 4, 1893

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Other Business Troubles. CHICAGO, June 3. - The Grant locomotive works is being pressed by some of its creditors, and in order to provide ready cash has called a meeting of stockholders. The trouble was precipitated by the recent strike of machinists. which prevented the company from making deliveries on its contracts and thus securing ready money. The establishment is solvent and the assets greatly exceed the liabilities. PHILADELPHIA, June 3. -Executions were issued this afternoon from Common Pleas Court in judgment entered against Clark Thomas & Co., furniture dealers, on judgment notes aggregating upwards of $100,000. Five executions were issued from the same tribunal against Philip Shafer. a furnitue dealer, on judgmentsaggregating $25,000. NEW YORK. June 3.-It has been figured out that there is due the public from the National Bank of Deposit $938,000, and that its assets are a little short of $1,100,000, which means that the stockholders of the bank will receive about 50 cents on the dollar. MILWAUKEE, June S.-At 4:30 this afternoon F. T. Day, president of the Plankinton Bank, made an assignment to W. H. Momsen, cashier of the defunct bank. The assignee's bond is fixed at $800,000, which represents the amount of the assets. GLADSTONE, Mich., June 3. -The Exchange Bank has made an assignment for the benefit of its creditors and has closed its doors. The suspension was caused by the failure of the Plankinton Bank, of Milwaukee. JOLIET, III., June 3.-Sanger, Mooday & Steel, stone quarrymen. made an assignment to-day. Liabilities, $54,330: assets nominally $177,000. of which $85,000 is an old government debt that is probably valueless.

19. June 11, 1893 The Roanoke Times Roanoke, VA
Article from The Roanoke Times, June 11, 1893

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THE NEWS IN PARAGRAPHS. Bank Examiner Belts was placed in charge of the failed Citizens National bank of Hillsboro, O. The skating rink at Yarmouth, N. S., was destroyed by fire. The loss is large. Insurance $3,000. Comptroller Eckels appointed David McClure of New York receiver of the Nation al Bank of Deposit of New York. Lieutenant Commander John P. Merrill, member of the steel inspection board, has been ordered to command the Vesuvius, relieving Lieutenant Seaton Schroeder, granted three months leave. The officials of the war department protest that the recent increase of the military force at Chicago had nothing to do with the closing of the World's fair, but there is reason to believe that trouble is anticipated. Vice President E. B. Thomas of the New York, Lake Erie and Western railroad denied that the company was behindhand in the payment of its men. The present management had never failed in making payments to employes. The United States marshal was notified by the Austrian consul of the desertion of a number of the cadets from the Austrian navy's school ship now in the port of New York. The consul asks for their arrest, and offers a reward of $10 for their cap. ture.

20. July 15, 1893 Evening Star Washington, DC
Article from Evening Star, July 15, 1893

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A Dividend Authorized. Upon consultation here by the controller of the currency with Mr. David McClure, receiver of the National Bank of Deposit of the city of New York, the controller authorizes the payment of a dividend of 40 per cent to the creditors of that bank upon the proof of claims filed with the receiver. It is expected that these proofs will have been filed so as to allow the dividend to be paid out on or about the first day of August.

21. July 15, 1893 The Sun New York, NY
Article from The Sun, July 15, 1893

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Forty Per Cent. for Bank of Deposit Creditors WASHINGTON. July 14.-Upon consultation here to-day by the Comptroller of the Currency with Mr. David McClure. receiver of the National Bank of Deposit of the city of New York. the Comptroller authorized the payment of a dividend of forty per cent. to the creditors of that bank upon the proof of claims filed with the receiver. It is expected that the dividend will be paid about Aug. 1.

22. July 15, 1893 Pawtucket Tribune Pawtucket, RI
Article from Pawtucket Tribune, July 15, 1893

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D HEK A BRIGHTER OUTLOOK THAT CURES In the Financial Circles CARD of the Country: TA THREE BANKS TO RESUME. Comptroller Eckels Much Pleased by the Situation. sish The returning feeling of confidence in the business com munity was strikingly reflected in events rday Office of the companies Marshfield, Mass. of the nurrence TAHW DANIA SARS Co. years was taken with Three banks were authorized to resume a Jame back, at times was bad that bed I WAS days business after having complied with the some time. Unip used by Compty nounced no received perma. of the Muscles, ler Eckels, more banks are appli nentradifirm theyu in pain all the time, thought I would try cants for huch PAS " restime. and a divi dend of 40 per cent was authorized to be DANA'S paid by the National Bank 1of Deposit of SARSAPARILLA the city of New York did 'me no good I could get my money The Three Banks The first bottle helped me. have taken bottles and the pain is all gone. authorized to resuine business Were the feel like new person. Truly DANA'S The Kind That Cures. First N tional Cal the O.F. SAMPSON. Resp'y yours, Secon Natigna and, the Marshfield, Mass. GENTLEMEN believe Mr. Sampson's state. National bank of Provo, UM mentistrue. Respectfully yours, LUTHER HATCH, Merchant. Marshfield, Mass. All of their in shape and Dana Sarsapariila Co., Belfast, Maine. with money enough to meet all possible demands There has been an extension of claims for 90 days in some cases, but the Los Ballroade, etc. Angeles bank starts off with $200,000 in new capital, and the bank at Provo has money enough in its vaults to meet all its Old Colony Railroad liabilities. TIME TABLE. The comptrol has insisted that ample funds shall be put up by the directors and Trains leave Pawtncket for Boston at 5 that the money shall belong to the bank, 6:12, 7:12, 8:09, 9:09, 10:09, 11 a. m.; 12:58,2 and not be borre red to give it a fictitious 8:28 4:85, 5:49, 6:32, 7:29 and 10:15 m. appearance of str ngth. Sundays-5:55, 8:25, 10:40 a. m. 1:40. 6 :30 p.m. A delegation from the American NaReturning, leave Boston for Pawtucket tional bank of Omaha, had a talk with 7:00, :00, 8:25, 9:00 :00 and 11:00 a. m.; 12 Mr. Eckels and seemed willing to comm.; 1:00, 8:00, 4:00, 5:00. 5-30, 6:30, 8:0 11 :00 and 12:00 D. m. ply with the same sort of conditions Sundays- 9:00 a. m. 1;00, 4:00, 7:15 for a reopening that he has imposed in m. 12:00 night. the other cases. Condensed Railroad Time Table The other two banks seeking to reopen are those at San Bernardino and Santa N. Y., N. H. & H. R. WOR. DIV. Anna, Cal. (Corrected to June 16, 1893. All these banks were obliged to suspend PAWTUCKET FOR PROVIDENCE. payment because of the A. M. A. M. P. M. P. A. M. P, M. Stringency In the Money Market 11 33* 5 04* 8 46t 7 50 2 121* 12 10t and not on account of bad loans and eva9 001 7 59 2 47 P. M. 5 101 12 561 sions of law, as in the case of the weaker 9 12 12 12* 8 09* 8 35 6 09* 5 18: institutions which have gone to the wall. 9 08 9 15t 8 19t 6 35* 12 15t 5 88* 9 52* 38* 3 33 9 49 5 45 6 51 Comptroller Eckels is much gratified by 00* 3 45 6 08* 9 56+ 17 20* 10 10 the change in the situation and the re3 58* 6 36* 1 03+ 10 33 57 341 10 13°1 sumption of business by so many institu10 19t 4 02 11 03 1 19 6 47* #17 56* 4 23* 10 82* 8 02 11 39 1 46 6 54 tions, but he does not propose to relax in 4 38* 10 52 57* 8 14* 17 14* any degree the stringency of the require7 25 2 02 4 46 8 28* 10 551 ments which he makes before allowing a bank to resume. PROVIDENCE FOR PAWTUCKET. The decision to pay a dividend of 40 per P. M. P. M P. M. P. M. A. M. A. M. cent to the creditors of the National Bank 5 30* 8 45* 8 00 12 101 201 5 22+ of Deposit of New York was due to a con8 30 5 40+ 12 30* 9 00 3 251 5 45 sultation between the receiver. Mr. David 5 45* 9 00 3 30* 45 9 10 6 00 00* 6 00* 9 30* 4 00* 9 53 6 30* McClure, and the comptroller. The pay6 10* 10 05 31* 4 051 10 001 6 45 ment of so large a dividend within 80 short 4 201 10 15* 10 30 6 22t 7 00+ 45 a time of the failure is unusual in the set6 30* 11 00 4 25 50 10 50* 7 15* tlement of national bank cases And was 50* 4 80* 11 10 11* 7 30 11 29 00* 11 25 2 30* 11 1 30 7 15* 8 00+ the occasion of cordial congratulations by 5 05 20t 401 8 081* 111 40* the comptroller to Mr. McClure. 5 15* 3 30* 7 40* 12 00 M 8 15 It is expected that proof of claims will SUNDAY TRAINS. be filed so as to allow the dividends to be Pawtucket for Providence 12 10t 12 561.5 34 paid about Aug. 1, and that $240,000 'will 8 49: 10 02*. 10 12t. 11 26t. 11 34*, a. m. be paid on claims amounting to about 2 18t. 2 49*. 4 35, 5 14*, 5 18t, 6 34". 6 53*. $600,000. 8 501. 8 54*, 9 18t p. m.

23. February 15, 1894 San Antonio Daily Light San Antonio, TX
Article from San Antonio Daily Light, February 15, 1894

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Depositors Paid in Full. NEW YORK, Feb. 15.-The Controller of the Currency has authorized David McClure, receiver of the National Bank of Deposit, to declare a further dividend of 15 per cent. in favor of the depositors, which is being paid today. This dividend together with the dividends heretofore paid, makes 100 per cent. on the face value of deposits. Mr. McClure expects to be able to realize sufficient from the assets of the bank to pay depositors interest upon their accounts. Mr. McClure took possession of the bank as receiver June 15, 1893, and the task of paying depositors 100 cents on the dollar, has been accomplished in less than eight months.

24. November 10, 1896 The Dalles Daily Chronicle Dalles, OR
Article from The Dalles Daily Chronicle, November 10, 1896

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Banks Feel the Effect of Restored Confidence. NEW YORK, Nov. 9.-The banks are contemplating the resumption of specie payments which they suspended in February, 1892, by refusing to supply gold for export and for payment of government dues. That action threw the burden of supplying gold upon the treasury, and eventually forced the issue of bonds by the government, which aroused so much complaint. Since the election the metal has been coming into the banks in such a flood that they see their way clear to what can be termed a resumption of specie payments. By this action of the banks gold will be put into circulation, and no occasion whatever will exist for hoarding it. They will also resume the task of supplying gold for export and thus relieve the treasury of a great strain.

25. November 10, 1896 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, November 10, 1896

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HOARDED GOLD RETURNING. Banks Have Plenty of the Yellow Metal and Can Resume Specie Payments. CHICAGO, ILL., Nov. 9.-A special to a morning paper from New York says: The banks are contemplating the resumption of specie payments, which they suspended in February, 1892, by refusing to supply gold for export and for the payment of Government dues. That action threw the burden of supplying gold upon the treasury, and eventually forced the issue of bonds by the Government, which aroused so much complaint. Since the election the metal has been coming into the banks in such a flood they see their way clear to what can be termed resumption of specie payments. By the payment of balances at the clearinghouse in clearing-house certificates for gold, as the sub-treasury is a member of the clearing-house, gold will flow into the Government vaults when the subtreasury is a creditor of the clearinghouse. By this action of the banks the metal will also be put into circulation, and no reason whatever will exist for hoarding it. They will also resume the task of supplying gold for export, and thus relieve the treasury from the strain. PHILADELPHIA, PA., Nov. 9-For several days heavy deposits of gold have been made in this city, the total amount received by banks, trust companies and saving funds being placed at $500,000. Of this sum $150,000 was deposited to-day. One bank this afternoon received $100,000 for a single customer. who purchased the money in New York and this city at a premium of 1/4 to 1 per cent a week prior to the election. The gold was generally withdrawn and hoarded to await the outcome of the election.