Gloucester City National Bank (Gloucester City, NJ)

View Charter #3936 on SPMC View balance sheet

Episode Information

Episode UID: 393601085
Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 39360 national
Charter Number: 3936
Start Date: May 1, 1890
Location: Gloucester City, New Jersey (39.892, -75.116)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 83ebc6191d7ed687

Response Measures

Public signal of financial health, Full suspension, Books examined

Other: A later reorganization scheme was attempted but abandoned; the bank went into receivership and dividends were later paid by the comptroller/receiver.

Receivership Details

Depositor recovery rate: 52.5%
Date receivership started: 1890-06-12
Date receivership terminated: 1894-02-02
OCC cause of failure: Excessive lending
Share of assets assessed as good: 8.9%
Share of assets assessed as doubtful: 16.4%
Share of assets assessed as worthless: 74.8%

Description

Receiver was appointed and reorganization abandoned; bank did not resume operations.

Events (6)

1. October 26, 1888 Chartered

Source: historical_nic

2. May 1, 1890 Run

Cause: Correspondent
Cause Details: Run triggered by failure/affiliation with the Bank of America of Philadelphia.
Newspaper Excerpt: A run began on the Gloucester City National Bank as soon as the doors were opened this morning.
Source: newspapers

3. May 1, 1890 Suspension

Cause: Correspondent
Cause Details: Suspension followed the run caused by the failure of the Bank of America (Philadelphia) with which it had dealings.
Newspaper Excerpt: Just before noon the building ... was closed up and a notice announcing the temporary suspension of the institution was posted.
Source: newspapers

4. June 4, 1890 Other

Newspaper Excerpt: The reorganization scheme of the suspended Gloucester City National Bank has been abandoned, the business men failing to interest themselves in the plan.
Source: newspapers

5. June 12, 1890 Receivership

Source: historical_nic

6. * Receivership

Newspaper Excerpt: A meeting of the depositors ... dissatisfaction was expressed over the fact that Receiver Jessup had not paid a second dividend.
Source: newspapers

Newspaper Articles (25)

1. May 2, 1890 New-York Tribune New York, NY

Article from New-York Tribune, May 2, 1890

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FOLLOWING THE BANK OF AMERICA. THE GLOUCESTER, N. J., CITY NATIONAL BANK CLOSED. Camden, N. J., May 1 (Special).-The Gloucester City National Bank closed its doors this morning. The notice of suspension was posted soon after opening-hours. Cashier Samuel W. Stokes appeared much worried. He refused to give out any information whatever. and referred reporters to Charles L. Work, the president. One of the first persons to step into the bank when the doors were opened at 9 o'clock was a runner from the National State Bank of Camden. He had a bundle of checks which he presented at the paying-teller's desk. but payment on them was refused. The runner. who was also a notary public, immediately protested the checks. Cashier Rose, of the National State Bank of Camden. stated this afternoon that they did little business with the Gloucester bank. except In the way of collections. He said that they had checks amounting to about $1.000 sent them yesterday, which the Gloucester bank paid to-day. They had up to 1 o'clock protested checks on the Gloucester bank to the amount of over $2,000. At the First National only one check, for $4, had been received against the Gloncester bank. It is not two years since the G'oucester City National Bank was started. Charles L.'Work. who is a son of George F. Work, is at its head. Owing to the losses the people of Gloucester had experienced by the failure of the Gloucester City Savings Institution. they were slow to confide in the new bank Cashier Stokes declined to make any statement as to the finances of the bank, and as none has been published in the Camden papers for some months. the figures were difficult to obtain. The paid. up capital stock is said to be $50,000. There was a slight run on the Fidelity Surety, Trust and Safe Deposit Company, of which Work is also president, but all checks were honored by Cashier Ellison, who said that the company was in good condition. Presi. dent Work said to-day that he owned stock in the Bank of America of Philadelphia, which suspended yesterday.

2. May 2, 1890 The Wheeling Daily Intelligencer Wheeling, WV

Article from The Wheeling Daily Intelligencer, May 2, 1890

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A New Jersey Bank Suspends. PHILADELPHIA, PA., May 1.-A run began on the Gloucester City National Bank at Gloucester, N. J., as seon as the doors opened this morning, and just before noon the building in which the bank is located was closed up and a notice posted up announcing the temporary suspension of the institution. The Gloucester bank was closely connected with the Bank of A merica, which suspended here yesterday, and the run was caused by the failure of the Philadelphia concern. The bank did not do a very extensive business, and it is not thought that there will be any financial distress in Gloucester on account of the suspension. Mr. Charles E. York, the President, declined positively to make any Statements of the liabilities of the bank.

3. May 2, 1890 Deseret Evening News Salt Lake City, UT

Article from Deseret Evening News, May 2, 1890

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Another Bank Failure. GLOUCESTER, N. J., May 1.-A run began on the Gloucester City National Bank as soon as the doors were opened this morning. Just before noon the bank suspended. The run was the result of its affiliation with the Bank of America of Philadelphia, which falled yesterday. Touching the condition of the Western farmers, General Butler said that the farms are passing out of the ownership of the tillers of the soil and they are becoming simply tenant farmers, the worth of the land having been wrested from them in spite of all their industry. Referring to the fabulous mortgaged debt on farm property, the speaker closed by saying: "As the payment of the mortgages is simply impossible, the payment of the interest upon them is also impossible, because they call for from 7 to 9 per cent and all statistics show that the average profits on farming industries are between 4 and 5 per cent only, hardly over 4. These mortgages never can be paid, if for no other reason, because they never can be paid if the debtors are ever 80 much disposed to pay them."

4. May 2, 1890 Rock Island Daily Argus Rock Island, IL

Article from Rock Island Daily Argus, May 2, 1890

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Bank Failure at Camden, N. J. CAMDEN, N.J., May 2-The Gloucester City National bank closed its doors Thursday morning. The suspension is supposed to be due to the failure of the Bank of America Wednesday in Philadelphia, with which it had dealings.

5. May 2, 1890 Waterbury Evening Democrat Waterbury, CT

Article from Waterbury Evening Democrat, May 2, 1890

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Supposed Cause of a Bank Failure. CAMDEN, N.J., May 2.-The suspension of the Gloucester City National Bank yesterday is supposed to be due to the failure of the Bank of America Wednesday in Philadelphia, with which it had dealings. No statement of the Banks' affairs could be secured, the officials declining to made any statement.

6. May 2, 1890 Evening Capital Journal Salem, OR

Article from Evening Capital Journal, May 2, 1890

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The Gloucester City, N. J. National bank has suspended. |

7. May 2, 1890 Los Angeles Herald Los Angeles, CA

Article from Los Angeles Herald, May 2, 1890

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Another Bank Failure, GLOUCESTER, N. J., May 1.-A run began on the Gloucester City National Bank as soon as the doors opened this morning. Just before noon the bank suspended. The run was the result of its affiliation with the Bank of America, of Philadelphia, which failed yesterday.

8. May 2, 1890 Richmond Dispatch Richmond, VA

Article from Richmond Dispatch, May 2, 1890

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Gone Up with the Bank of America. (By telegraph to the Dispatch.) Philadelphia, May 1.-A run began on the Gloucester City National Bank, at Gloucester, N. J., as soon as the doors were opened this morning, and just before noon the building in which the bank is located was closed up and a note announcing the temporary suspension of the institution was posted on the outside thereof. The Gloucester Bank was closely connected with the Bank of America. which suspended here yesterday, and the run was caused by the failure of the Philadelphia concern. The bank did not do a very extensive business and it is not thought there will be any financial distress in Gloucester on account of the suspension. Charles F. Work, the president, declined positively to make any statement of the assets and liabilities of the bank.

9. May 2, 1890 Evening Star Washington, DC

Article from Evening Star, May 2, 1890

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Another Bank Gone Under. CAMDEN, N. J., May 2.-The Fidelity Surety Trust and Safe Deposit Company suspended payment this morning. Charles L. Work, the president of the Gloucester National Bank, which suspended yesterday, was also its president. Bank Examiner Andrew, who is going over the books of the Gloucester City National Bank, stated to a reporter this forenoon that it is his opinion that the bank will be able to pay its depositors in full. A notice to this effect has been posted on the door of the bank.

10. May 2, 1890 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, May 2, 1890

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A Gloucester, N. J. Bank Suspends. GLOUCESTER, N. J., May 1.-A run began on the Gloucester City National bank as soon as the doors were opened this morning. Just before noon the bank suspended. The run was the result of its affiliation with the Bank of America, Philadelphia, which failed yesterday.

11. May 2, 1890 The Morning News Savannah, GA

Article from The Morning News, May 2, 1890

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A BANK CLOSED BY A RUN. The Concern Closely Connected with the Broken One at Philadelphia. PHILADELPHIA, May 1.-A run began on the Gloucester City National Bank, at Gloucester, N. J., as soon as the doors opened this morning, and just before noon the building in which the bank is located was closed up, and a note announcing a temporary suspension of the institution was posted on the outside. The Gloucester bank was closely connected with the Bank of America, which suspended here yesterday, and the run was caused by the failure of the Philadelphia concern. The bank did not do a very extensive business, and it is not thought that there will be any financial distress in Gloucester on account of the suspension. Charles F. Work, president, declined positively to make any statement of the assets and liabilities of the bahk.

12. May 2, 1890 Fort Worth Daily Gazette Fort Worth, TX

Article from Fort Worth Daily Gazette, May 2, 1890

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A Gloucester Bank Suspends. PHILADELPHIA, Pa., May 1.-A run began on the Gloucester City National bank at Gloucester, N. J., as soon as the doors opened this morning and just before noon the building in which the bank is located was closed np and a notice announcing the suspension of the institution was posted. The bank was closely connected with the bank of America which suspended here yesterday, and the run was caused by the failure of the Philadelphia concern. It is not thought there will be any financial distress in Gloucester on account of the suspension. order tot be er.hun condit ms, it is wis 12 to build than araios a. mey complaints. dang 18, dican e avoided by keepi the sy: m in derfect Order by the use of Cascarine.

13. May 2, 1890 The Seattle Post-Intelligencer Seattle, WA

Article from The Seattle Post-Intelligencer, May 2, 1890

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RUINED BY UNSAFE RISKS. Insurance Company Loans Money Without Security. PHILADELPHIA, April 30.-Something of a sensation was caused by the announcement that an examination by the state insurance commissioner shows that the Life Insurance Company of America has loaned over $700,000 to various concerns which have no commercial standing. As a result stock of the concern has depreciated nearly a million in value. The president of the concern declared the loans perfectly safe. The Bank of America has suspended payment. The announcement did dot cause much surprise, as it was known in financial circles that there had been a heavy draft on it for several days. Branch offices in different parts of the city were also shut up. The deposits are said to amount to about $700,000. The bank is closely allied to the Life Insurance Company of America. Today's suspension was due to rumors set afloat Saturday affecting the credit of President McFariane, of the insurance company. NEW YORK, April 30.-The Homestead bank, Tenth avenue and Fifty-third street, has shut down. Bad business is the cause of the suspension. The bank had a capital of $100,000. It is said that every one will receive the money due him. GLOUCESTER, N. J., May 1.-A run was begun on the Gloucester City National bank as soon as the doors opened this morning. Just before noon the bank suspended. The run was the result of its affiliation with the Bank of America, Philadelphia, which failed yesterday.

14. May 3, 1890 Santa Fe Daily New Mexican Santa Fe., Santa Fe, NM

Article from Santa Fe Daily New Mexican, May 3, 1890

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Kept Bad Company. GLOUCESTER, N. J., May 3.-A run began on the Gioucester City National bank as soon as the doors were opened this morning. Just before noon the bank suspended. The run was the result of its affiliation with the Bank of America of Philadelphia, which failed yesterday.

15. May 3, 1890 Evening Journal Wilmington, DE

Article from Evening Journal, May 3, 1890

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ONE CENT. JERSEY BANKS CLOSED. The MacFarlane Rumors Shut Up Six Institutions. MANY PEOPLE ARE MOURNING. The Fidelity Surety Trust and Safe Do. posit Company, of Camden, and Its Branches, and the Mercantile Bank, of Atlantic City, Have Suspended Payment. CAMDEN, N. J., May 3.-The Fidelity Surety, Trust and Safe Deposit company, of this city, closed its doors yesterday. The suspension of this institution was expected when the announcement of the failure of the Gloucester City National bank was made. The concerns were very closely allied. Charles R. Work was president of both, and Charles C. McNaughton was a director in both institutions. Cashier Samuel W. Stokes, of the Gloucester bank, was also a director in the Fidelity. President Work Talks. A reporter saw J. Austin Ellison, treasurer of the Fidelity, but he declined to make any statement. When asked whether the depositors would get their money, lie said: "I decline to say anything." President Work said: "Under a raid no company can stand. Weare all right if we are given a chance to realize without sacrifice on our assets. This has all come froma the report that I had stock in the Bank of America. I sold out my Bank of America. stock over a year ago and since that time have had no connection with it whatever." Scarcely a Ripple Caused. The company was organized under the state laws. The capital is announced as $200,000, but it is claimed that but a small portion of this is paid in. The company has been doing business less than thirty months. Its suspension caused scarcely a ripple in Camden financial circles. The Boy's Check Was Not Cashed. President Work and Secretary and Treasurer J. Austin Ellison conducted the entire business, and early in the morning they assured depositors that the concern to meet was plication able of Richard its obligations Deer, 14 years The old, ap- for $27, the amount of his savings on deposit, was the last straw. Secretary Ellison informed him that the company was unable to pay the money at that time, but would do so in a few days. The boy was the first to be refused, and left the office with tears rolling down his cheeks.

16. May 8, 1890 Sturgis Advertiser Sturgis, SD

Article from Sturgis Advertiser, May 8, 1890

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THE Gloucester City National Bank of Camden, N. J., has closed its doors. The suspension is supposed to be due to the failure of the Bank of America in Philadelphia with which it had dealings. The officials decline to make any statement.

17. May 21, 1890 The Abbeville Press and Banner Abbeville, SC

Article from The Abbeville Press and Banner, May 21, 1890

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THE NEWS EPITOMIZED. Eastern and Middle States. THE eight-hour workday movement was begun in New York city quietly. Only about a dozen men went on strike. The socialist labor party and the Central Labor Union celebrated the day by a parade and mass meeting at Union Square. There were demonstrations, also, at Philadelphia, Boston. Pittsburg, and throughout the Eastern States generally. JAMES PALMER, convicted of the murder of Henry T. Whitehouse, of Portsmouth, was hanged at Concord, N. H. CATTLE and sheep sheds and barns and stables, covering nearly eight acres of ground in the West Albany (N. Y.) Live Stock Yards. were laid in ashes by an incendiary's match. THE Assembly in Albany, N. Y., passed a bill to abolish capital punishment. GEORGE WEBBER was killed at Belknap crossing, near Attica, N. Y., by being struck by a train. His wife's skull was fractured, injuring her fatally. THE failure of the Bank of America in Philadelphia has been followed by that of the Gloucester City (N. J.) National Bank. At the time of the failure the deposits were about $40,000. The depositors are mostly poor working people. FECHHEIMER, RAU & Co., shirt manufacturers of New Yorkcity, have failed; approximate liabilities, $350,000; assets, $275,000. PATRICK D. FLANNIGAN entered a saloon at Waterbury, Conn., ani asked Michael McDermott to drink with him. As McDermott responded Flannigan, without a word, emptied the six barrels of a 32-calibre revolver into McDermott's face and throat and then walked out. McDermott died within an hour. THE Fidelity Surety, Trust and Safe Deposit Company, of Camden, N. J.; the Port Norris Bank, the Merchants' Bank of Atlantic City, N. J., and the Merchants' Bank of Pleasantville, N. J., suspended payment. SHARPERS stole $1000 from the Rev. Father Thomas J. Ariens at Bridgeport, Conn., and left a baby on his hands. CRIMINAL proceedings have been begun against the officers of the broken Philadelphia banks. WILLIE HULSE. aged ten years. son of J. H. Hulse, No. 329 Hu ison street, New York, was shot and instantly killed by his playmate, Charles Sickles, aged fifteen, at Good Ground, Long Island, N. Y. A RUNAWAY accident occurred in Maple avenue, Penn., in which Willie Fitzpatrick. eight years of age, was instantly killed. His little sister was fatally injured, and two other children were badly bruised and cut, and the father of the dead boy was severely injured. Mrs. Fitzpatrick became violently insane after the accident. THE entire business portion of South Dayton, N. Y., has been destroyed by fire. Loss, $20,000. IN New York and Brooklyn nearly all the carpenters went to work under the eight hour day system. There was no striking necessary to gain this point. ASHINGTON QUINLAN, a member of the New York Stock Exchange, has disappeared owing about $100,000. JOHN CROMOCK, a morphine eater, killed his thirteen-year-old daughter at Foxboro, Mass., and then committed suicide. THE Singer Sewing Machine Works. at Elizabethport, N. J., covering two acres of ground, were almost wholly destroyed by fire, together with a considerable amount of the railroad property adjoining. The works employed about 3500 hands. The loss is about $3,000,000.

18. June 4, 1890 The Jersey City News Jersey City, NJ

Article from The Jersey City News, June 4, 1890

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The Bank Will Not Resume. Special to the Jersey City News. CAMDEN, N. J., June 4, 1890.-The reorganization scheme of the suspended Gloucester City National Bank has been abandoned, the business men failing to interest themselves in the plan.

19. November 8, 1890 Evening Journal Wilmington, DE

Article from Evening Journal, November 8, 1890

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THE NEWS IN BRIEF. Condensed Telegrams Gathered from Va. rions Places. The treasury department is issuing new one dollar notes at the rate of 4,000 a day. The issue will continue until the string. ency in the market for small notes is overcome. Robert Nelson Gere, a member of assembly in 1862, and prominently connected with salt, banking and manufacturing interests, died at his home in Syracuse, N. Y., Nov. 7. The Mutual Fire Insurance company, of Chicago, has filed a general assignment. Liabilities, $57,604.89: nominal assets, $187, 660.60. Unusually large losses, a consequent assessment, followed by a loss of confidence and withdrawal of holders of premium notes caused the suspension. A boiler in Baker Brothers' cotton gin at Dyersburg, Tenn., burst, killing two negroes and wrecking the gin. Lord Chief Justice Coleridge, who, while presiding over the queen's bench division of the high court of justice, was taken seriously ill with an attack of acute gastritis, is rapidly recovering. His physicians dc not consider his ailment serious. The comptroller of the currency has de clared a first dividend of 20 per cent. in favor of the creditors of the Gloucester City National bank, of Gloucester City, N.J., on claims proved amounting to $27, 456.32. The bank failed May 1, 1890. H.S. Billings, for twenty-five years superintendent of the Pullman Palace Car company, died at Hornellsville, N. Y., Nov. 7. George Halstead, a well known merchant of Ashford Junction, N. Y., was struck by a passenger train on the Buffalo, Rochester and Pittsburg railroad and instantly killed. Nehemiah Allen Leonard, president of the Connecticut River railroad and one of the leading lawyers of the Hampden county bar since 1850, died at Springfield, Mass., Nov. 7, aged 65 years. Austin Gibbons, the Paterson (N. J.) special light weight, did up his Brooklyn rival in the same class, Mike Cushing, in nineteen rounds, at Providence, R.1 Maj. Gen. Miles reports that most of the western Indians expect a Messiah, and says the Mormons are at the bottom of it. Three men were killed at a duel on election day in a Kentucky mountain town. Thomas and Henry Harper have depart ed from New York, leaving large indebt r edness. They claimed to have invented a machine which would duplicate automat S ically the work of a hand painter on china. e Arrests for election frauds are ordered in Philadelphia, and there is a fugacious in n clination on the part of crooked politicians. e Politicians are divided on the New York 1 senatorship. Shrewd reasoners argue that neither Mr. Cleveland nor Governor Hill could take it, and some think a New York o city man may get it, though there are be e lievers in Smith M. Weed's chances.

20. November 12, 1890 Connecticut Western News North Canaan, Salisbury, Canaan, CT

Article from Connecticut Western News, November 12, 1890

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TELEGRAPHIC BREVITIES. The World's News Gleaned, Sifted and Condensed. FRESH TIPS FROM THE WIRES. Is Is Going on of Interest That of the What Reading The Wheat Whole World's Worth News Winnowed from a Week's Threshing. new treasury department rate of is issuing 4,000 a day. ency The dollar notes at the until the string- overone The issue in the will market continue for small notes is of ascome. Robert Nelson Gere, prominently a member connected inin 1862, and manufacturing terests, Nov. sembly with salt, died banking at his home and in Syracuse, of 7. Mutual Fire Insurance general company, assignment. $187, The has filed a nominal assets, a Liabilities, large losses, a loss of followed of holders 660.60. Chicago, assessment, Unusually $57,604.89 withdrawal by conse- of gin quent confidence and caused the suspension. cotton premium A boiler notes in Baker Brothers' burst, killing two negroes at and Justice Tenn., Coleridge, the gin. bench who, division while Lord Chief over the queen's justice, was taken seris rapidly his ailment ously of presiding the ill high with recovering. court an attack of His of serious. acute physicians gastritis, de- do has not consider comptroller of the currency 20 per cent. in The first dividend of of the Gloucester City, favor clared National of a the creditors bank, of amounting Gloucester to $27, City J., on claims proved failed May 1, 1890. 456.32. N. The bank for twenty-1 five Palace years Car superintendent H. S. died of at the Hornellsville, N. Nov. company, Billings, Pullman known merchant Y., by George 7. Halstead, a well N. Y., was Rochester struck Ashford Junction, on the Buffalo, killed. and of a passenger Pittsburg train railroad Leonard, dinstantly president one of of since Nehemiah Connecticut Allen River the railroad Hampden and county the the leading 1850, lawyers died of at Springfield, Mass., J.) bar Nov. 7, aged Gibbons, 65 years. the Paterson his Brooklyn (N. in Austin light weight, did Mike up Cushing, rival in at most of nineteen special the rounds, same class, reports Providence, that R.I. the Maj. expect a bottom of western the Mormons are at at a duel town. on says Gen. Indians Miles killed the Messiah, elec- and it. Three men were Kentucky mountain departday a indebtThomas New York, to have invented ed tion from They in and claimed Henry leaving Harper duplicate large have automat china. a ically the machine edness. which would hand painter ordered on in Arrests for there is a Philadelphia the part of the New York clination on work election are and of divided a frauds crooked on are fugacious politicians. argue that inPoliticians Shrewd reasoners Governor York Hill senatorship. Mr. Cleveland some nor think there a New are be neither could take it, and get it, though chances. has city man may Smith M. Weed's City, W. lievers in M. Nuttmin, of Jersey West Point with Harold been Loris appointed Armstrong, a cadet to of Montclair, N.J., H. Henry as Curtis, The alternate. president of New United Jersey, has pardoned States convicted Hill's army. of military desertion from Judson, the married Governor Nov. 6 to attend- Miss secretary, Col. Lathrop. was The governor the bride was Marion ed the reception. E. watch and His chain. gift The to watch chain is In costly studded the Vermont with diamonds. legislature to pay their of a 96 bill employes to com- 125; pelling weekly bill was corporations exempting by a vote soldiers from epi- the payment also a diphtheria of poll tax. is prevailing O. The in an sus- are demic Black form at Cygnet, business is deaths practically have the ocall closed A and number of are leaving annual report of Maj. Gen. to our place. pended. curred The and many large persons addition coast defense. Schofield fleet the and recommendatteries shore for been taken Cornelius from the Vizcaya to New hard luck. Hargraves wrecks Three of bodies and house have brought (Yonkers) and the suicide York. was The Getty Boston tailor in has received evidently a Perrin H. signed Summer "J. H. Edgar." of the a Speculator remarkable letter B. Price, president of Sedalia, Judge Mo., Col. Thomas Printing companded court. by An t e Gazette was shot and mortally Pitts county shooting. cattle John Higgins, of caused the known p election quarrel Greever, a fatally well wounded ex- at David was H. shot by and Charles Clifford, an man, pugilist Kansas from City San Francisco.

21. January 1, 1891 Gloucester County Democrat Woodbury, NJ

Article from Gloucester County Democrat, January 1, 1891

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IN THE FINANCIAL WORLD. JANUARY. 12. Bank of South Dakota at Madison assigned; assets, $130,000; liabilities not stated; as a result the La Belle Ranch Horse Importing company assigned; liabilities, $00,000; assets, $150,000. 16. L. II. Stone, San Francisco harness dealer, as signed; liabilities, $204,000; assets small. 28. John B. Lalande, cotton factor, assigned in New Orleans: liabilities, $364,000: assets, $544,000. 30. The First National bank, the Lenox Hill bank, and the Equitable bank, all in New York, closed by order of the United States bank examiner; George H. Pell, a broker, and P. J. Claassen, president of the Sixth National, arrested. MARCH. 7. Monroe Eckstein and Leopold Wertheimer, New York brewers, assigned; liabilities, $600,000. Beiloe freres, bankers, San Francisco, failed; liabilities large. 19. John F. Plummer & Co., one of the largest dry goods commission firms in the business, assigned in New York: liabilities, $1,000,000; assets about the same. APRIL. 8. Manhattan bank, of Manhattan, Kan., failed; liabilities, $600,000. 17. Louis Francke & Co., silk importers, assigned in New York; liabilities, $900,000. 30. The Bank of America, a state institution, at Philadelphia. suspended MAY. 1. The Gloucester City National bank at Glouces ter City, N. J., carried under by failure of Bank of America. Fechheimer, Rau & Co., shirt makers, failed in New York; liabilities $350,000; assets, $276,000. 2. The Fidelity, Surety, Trust and Safe Deposit company of Camden, N. J., the Port Morris bank, the Merchants' bank of Atlantic city and the Merchants' bank of Pleasantville, N. J., suspended payment; said to have been caused by failure of Bank of America. 14. The brokerage firm of Doran & Wright, of New York, with branches in the principal cities, suspended for $400,000. JULY. 29. J. E. Tygert & Co., manufacturers of fertilizers, Philadelphia, failed; liabilities, $317,000 AUGUST. 24. Financial panic in Buenos Ayres SEPTEMBER 3. Hixie & Meller, lumber dealers at Ontigo, Wis., failed; liabilities, $518,000. 4. Potter, Lovell & Co., publishers at Boston, sus pended; liabilities, $5,000,000. Sawyer, Wallace & Co., commission mer chants at New York, assigned; liabilities, $1,000,000. 14. Secretary Windom announced that he would buy $16,000,000 4 per cent. bonds and prepay the interest on the 6s in order to relieve financial stringency. OCTOBER 7. Second financial panic at Buenos Ayres. 14. F. H. Hogarty & Co., bankers at Aberdeen, S. Dak., assigned: liabilities, $240,000; assets, $240,000. 80. Isaac L. Falk & Co., New York clothiers, asalamed liabilities enea 000

22. January 3, 1891 The Dickinson Press Dickinson, ND

Article from The Dickinson Press, January 3, 1891

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IN THE FINANCIAL WORLD. JANUARY. 12 Bank of South Dakota at Madison assigned; assets, $150,000; liabilities not stated; as a result the La Belle Ranch Horse Importing company assigned; liabilities. 300,000; assets, $150,000. 16. L. H. Stone, San Francisco harness dealer, as signed: liabilities, $204,000; assets small. 28. John B. Lalande, cotton factor, assigned in New Orleaus: liabilities, $764.000: assets, $514,000. 80. The First National bank, the Lenox Hill bank, and the Equitable bank, all in New York, closed by order of the United States bank examiner; George II. Pell, a broker, and P. J. Claassen, president of the Sixth National, arrested. MARCH. 7. Monroe Eckstein and Leopold Wertheimer, New York brewers, assigned: liabilities, $000,000. Belloe freres, bankers, San Francisco. failed; liabilities large. 19. John F. Plummer & Co., one of the largest dry goods commission firms in the business, assigned in New York; liabilities, $1,00,000; assets about the same. APRIL. 8. Manha:tan bank, of Manhattan, Kan., failed; liabilities, $600,000. 17. Louis Francke & Co., silk importers, assigned in New York; liabilities, $900,000. 30. The Bank of America, a state institution, at Philadelphia. suspended. MAY. 1 The Gloucester City National bank At Glouces. ter City, N.J., carried under by failure of Bank of America. Fechheimer, Rau & Co., shirt makers, failed in

23. September 10, 1891 The Jersey City News Jersey City, NJ

Article from The Jersey City News, September 10, 1891

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GLOUCESTER BANKS. Dissatisfaction At the Manner in Which They are Settling. Special to the Jersey City News. GLOUCESTER CITY, September 10, 1891.It is now pretty generally believed that the depositors in the Gloucester City Savings Institution, the first financial concern which suspended payment in this city, have received all they will ever get. The payments thus far aggregate 67 per cent. of the deposits, and the receiver has not been able to realize sufficient since the last payment to pay an additional dividend of one per cent. There are several suits pending, but what the outcome will be is only a matter of conjecture. A meeting of the depositors of the Gloucester City National Bank was held last night, and great dissatisfaction was expressed over the fact that Receiver Jessup had not paid a second dividend. He stated that he was doing the best he could from the available assets. Committees were appointed to conter with him and the Comptrolier of Currency in their case.

24. December 24, 1893 The Indianapolis Journal Indianapolis, IN

Article from The Indianapolis Journal, December 24, 1893

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THE SCHEME FAILED. No Receiver Appointed for the Chesapeake, Ohio & Southwestern. LOUISVILLE, Ky., Dec. 23.-The plan to get a receiver appointed for the Chesapeake, Ohio & Southwestern railway, at Nashville, yesterday, fell through. General Echols, with several other gentlemen, made a flying trip to Nashville, as they stated, to look after the grain trade. The suspicions of the attorneys for the commonwealth were aroused, and they telegraphed Judge Lurton, at Nashville, that should application be made for a receiver they desired to be heard. The scheme was to have General Echols appointed receiver of the C., O. & S. W. The object of Huntington, the Illinois Central and the Louisville & Nashville, it is stated, is to have the C., O. & S. W. railway sold under foreclosure in the United States Court, when the two roads will buy it up and divide it as best suits their interests. The appointment of a receiver is the first step in that direction. Judge Lurton refused to appoint a receiver until the State of Kentucky could be heard. He continued the case until next Thursday, when it will be heard at Clarksville, Tenn. Other Business Troubles. TOPEKA, Kan., Dec. 23.-State Bank Commissioner Breidenthal has taken possession of the Bank of Greensburg, Kiowa county. It is a bad failure. Its assets are said to be $95,000, but only $11,000 is in cash, the remainder being real estate and paper. out of which 50 cents on the dollar will not be realized. The liabilities are $52,000, $50,000 of which is due Kiowa county. The concern was organized in 1876, with a capital of $16,500, which was immediately invested in a bank building and fixtures with $4,000 of the depositors' money. LUDDINGTON Mich., Dec. 23.-Judge Judkins has ordered the discharge of F. E. Gary, who was appointed receiver of the Mendelson Manufacturing Company a few weeks ago. The court held that the complaint against the company did not contain evidence sufficient to warrant the appointment of a receiver. The affairs of the company are now entirely in the charge of its officers, with W. z. Mendelson, of Milwaukee, as president. NASHVILLE, Tenn., Dec. 23.-The special assignment of J. H. Riley, filed yesterday, was attacked to-day by the American National Bank, upon the ground that the assignment is a general one, in that the deed of assignment does not follow the law provided for the execution of special assignments. The bill filed asks for an attachment upon the goods in the stores in this city, Chattanooga and Jackson, Tenn. GLOUCESTER CITY, N. J., Dec. 23.The effects of the National Bank of this city were sold by the receiver to-day. Securities, the face value of which was $100,000, brought less than $200. The ratio was about 2 mills on the dollar. A judgment of $57,000 against C. L. Work, the president of the bank, sold for $101. PITTSBURG, Dec. 23.-Judgments aggregating $100,000 were entered to-day against Fleishman & Co., one of the largest drygoods and notion firms in the city. No executions have been issued, and the house was open as usual to-day. The firm may make an assignment for the benefit of creditors. NEW YORK, Dec. 23.-Schedules in the assignment of Wilson, Godfrey & Co., the lumber firm, to Elberton R. Chapman, filed in the Court of Common Pleas, today, show contingent liabilities $550,198 and direct liabilities $142,389; nominal assets, $129,086, and actual assets, $94,389. NEW YORK, Dec. 23.-Judgments aggregating $53,504 were entered in the county clerk's office to-day against Henry C. Albert, of the firm of Albert, Haager & Co., lace dealers, in favor of Nicholas Albert and John N. Crusius.

25. December 27, 1893 Pine Bluff Daily Graphic Pine Bluff, AR

Article from Pine Bluff Daily Graphic, December 27, 1893

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Worthless Securities. GLOUCESTER CITY, N. J., Dec. 27.The effects of the National bank of this city were sold by the receiver. Securities, the face value of which was $100,000, brought less than $200. The ratio was about 2 mills on the dollar. A judgment for $57,000 against C. L. Work, the president of the bank, sold for $101.