Elmira National Bank (Elmira, NY)

Episode Information

Episode UID
410501121
Episode Type
Suspension β†’ Closure
Bank Type
national
Bank ID
41050 national
Charter Number
4105
Start Date
May 23, 1893
Location
Elmira, New York (42.090, -76.808)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f58f81cb63163a4c

Response Measures

None

Receivership Details

Depositor recovery rate
69.5%
Date receivership started
1893-05-26
Date receivership terminated
1912-04-30
OCC cause of failure
Fraud
Share of assets assessed as good
17.1%
Share of assets assessed as doubtful
41.0%
Share of assets assessed as worthless
41.9%

Description

The bank's failure triggered a run on the Elmira Savings Bank, but the Elmira National Bank itself suspended without a prior run. Despite 1894 reports of a potential 'resuscitation,' the bank remained in receivership and was the subject of a 1895 Supreme Court case regarding its liquidation.

Events (6)

1. August 30, 1889 Chartered
Source
historical_nic
2. May 23, 1893 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Financial failure and large overdrafts of a major creditor and director, Col. D. C. Robinson (the Mayor), after the Mutual Life Insurance Co. withdrew support.
Newspaper Excerpt
The Elmira, N. Y., National Bank closed its doors to-day. The failure is the result of financial troubles of Col. D.C. Robinson.
Source
newspapers
3. May 26, 1893 Receivership
Source
historical_nic
4. May 26, 1893 Receivership
Newspaper Excerpt
The Elmira National Bank was put in the hands of a receiver by Controller Eckels. ... Mr. Eckels named as receiver of the bank Charles Davis
Source
newspapers
5. September 14, 1894 Other
Newspaper Excerpt
The Elmira National Bank will also be enabled to resume business, $200,000 having been raised for its relief. ... arrangements are about completed for the restoration to solvency ... and the consequent resuscitation of the Elmira National Bank.
Source
newspapers
6. March 5, 1895 Other
Newspaper Excerpt
The Supreme Court of the United States to-day heard arguments in the case of Chas. Davis, plaintiff in error, vs. the Elmira Savings Bank. ... in the settlement of the affairs of the Elmira National Bank ... of which Davis ... is receiver.
Source
newspapers

Newspaper Articles (24)

Article from Alexandria Gazette, May 23, 1893

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TELEGRAPHIC BREVITIES. Thirty-eight men, principally firemen and machinists, have deserted from the Argentine cruiser Neuve de Julio, now lying off New York. They were nearly all Englishmen. The World's Fair directory say that before determining to open the exposition on Sunday they consulted the ablest lawyers in the West, and they agreed that Attorney General Olney could do nothing in the case. A man died in a Philadelphia hospital last evening from a gun-shot wound in the abdomen. The man is supposed to be the burglar who was shot on Friday night by the watchman of a watch factory at Lancaster, Pa. An oil train standing on the Baltimore and Ohio bridge, near Johnstown, Pa., last evening was run into by another train, derailing two oil cars. The oil caught fire and the cars burned with a fearful heat, destroying the bridge. The steamship James Brand, the largest steel tanker afloat, arrived at Philadelphia yesterday from Dartmouth, Eng., after a passage of sixteen days. The voyage demonstrated that petroleum fuel for steamships can be used. The threatened strike of telegraphers on the Chicago and Northern road occurred this morning, and as a result a disastrous wreck occurred, involving many thousand dollars' worth of prop. erty and causing a blockade of the entire Milwaukee division of the road. Congressman Charles O'Neil, of Philadelphia, the father of the House of Representatives, who was elected last fall to Congress for the fifteenth successive time, told a reporter to-day that he expected to see the tariff completely revised at the next session of Congress. He does not believe, however, that the McKinley bill will be repealed in its entirety. The commissioners appointed by the President to investigate the inner workings of the New York custom house met this morning in that city and remained in executive session until noon organizing and laying out a plan of campaign. Ex-Secretary Fairchild, who is president of the commission, said that no open session would be held to-day and that no witnesses would be examined. With a crash that startled hundreds of people almost across the street from the City Hall in Chicago, 3. section of the Oriental Building wall fell this morning The accident happened just after a large force of men had gone to work tearing down the building to make a place for the new Stock Exchange Five men were buried, one of whom was kill. ed and the others wounded. A fire of incendiary origin partially destroyed three three-story brick buildings in as stores and esManchester, dwellings. Va., this One morning family occupied of nine in their night clothes losing all their were by possessions. caped The buildings owned the Virginia Loan Association. Loss $7,500 insured. The Elmira, N. Y., National Bank closed its doors to-day. The failure is the result of financial troubles of Col. D.C. Robinson. Mr. Jackson Richardson, president of the bank, says the depositors will be paid in full. The deposits amount to $200,000. Band examiners recently declared the bank perfectly solvent. Benjamin F. Carver, 70 years of age, a guest at the Hotel Bristol, New York, plunged from & fourth-story window of that house this morning and was almost killed. Cigarette smoking In a stable caused the destruction of $30,000 worth of property at Nashville, Tenn., yesterday.


Article from Evening Star, May 23, 1893

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COL. ROBINSON'S FAILURE. He Couldn't Pay the Elmira National Bank, Which Had to Close Its Doors. ELMIRA, N. Y., May 23.-The Elmira National Bank closed its doors this morning. The bank's failure is the result of the recent financial troubles of Col. D. C. Robinson. The Mutual Life Insurance Company of New York agreed to advance $750,000 to Col. Robinson. The company, however, decided at 5 o'clock last night to render no further assistance to the colonel, and as he was a large creditor of the bank it was decided by the directors to apply to the controller of the currency for the appointment of a receiver. The bank examiners last week reported the bank perfectly solvent in case Col. Robinson paid his obligations; if not the depositors then would be paid in full, with a small loss to the stockholders. Jackson Richardson. president of the bank. savs that the depositors will positively be paid in full. The deposits in the bank amount to about $200,000.


Article from The Wichita Daily Eagle, May 24, 1893

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FAILURES. ELMIRA, N. Y., May 23.-The Elmira National bank closed its doors this morning. The bank's failure is the result of the recent financial troubles of Colonel D. C. Robinson. The depositors will be paid in full, with a small loss to the stockholders. NEW YORK, May 23.-An application was made today for a receiver for the Blakeslee & Williams company, in proceedings in voluntary dissolution. The firm has done a big business in fireworks. The stringency in the money market is given as the cause of the embarrassment. The liabilities are about $260,000, with assets of $70,000.


Article from The Portland Daily Press, May 24, 1893

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A DOMESTIC DIFFICULTY. Store of a Large Sewing (Machine Company in the Sheriff's Hands. NEW YORK, May 23.-The Domestic Sewing Machine Company, which has been attached by the Astor ΒΏPlace Bank, the attachments aggregating over $27,000, has removed from this city to Newark, N.J. It is said that this was done to avoid other attachments and protect the property of the company, which is a foreign corporation. It is also said the removal was made to avoid the payment of taxes here. The store of the company was continued in charge of the sheriff today without interference in the business. Those familiar [with the company's condition say the tightness of the money market found it in straits. It has large quantities of paper out, held by many banks. Big Electric Concern in Trouble. EAU CLAIRE, Wis., May 23.-Ralph Rust today was appointed receiver of the National Electric Manufacturing Com pany. The assets appear to be $560,000; indebtedness, $400,000. The company is one of the largest electrical manufacturing concerns in the United States. The cause oi the appointment was threatening suits arising out of the stringency of the money market. Other Business Troubles. NEW YORK, May 23.-The following notice was pinned on the doors of the National Bank of Deposit this morning: "I have taken possession of this bank for the Comptroller of the Currency. Deposits will neither be received nor paid until further notice. William H. Kimball, National Bank Examiner." NEW YORK, May 23.-A receiver has been asked for the Ives, Blakeslee & Williams Company, in proceedings for voluntary dissolution. The firm is alleged to be insolvent. Aside from what it owes Cornelius Blakeslee, its obligations are $175,000. The firm dealt in toys and fireworks. The total liabilities are $261,848; actual assets, $70,289. ELMIRA, N. Y., May 23.-The Elmira National Bank closed its doors this morning. The failure is due to the financial troubles of Colonel D. C. Robinson. It is said the depositors will be paid in full. The deposits in the bank amount to $200,000.


Article from Daily Kennebec Journal, May 24, 1893

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NEWS NUGGETS. by the Wires From the North. Eas South and West. ts from 44 of the 63 internal ricts show that 5413 Chinese d. er landslide has occurred at Va orway. It is feared that 100 per killed. ee d storm blowing at the rate of 1 hour, passed over Sioux City, night, doing great damage. H. Robinson has been appointed tion inspector at Portsmouth, P. B. Cogswell, removed. colli-ion is reported on the North ific near Little Falls, Minn.. Tues ning, in which a postal clerk. nd brakeman lost their lives. ndo passed near Darlingron, Wis. afternoon, totally destroying uses and other buildings. James vas badly injured and his wife German Centre party has issued I address in which it takes adecided ainst the army bill. The Centrist a measure permitting Jesuits Germany. Agnes Barton and her daughter ed suicide at Morristown, Pa night by taking poison. They d by poverty and worn out in the to make a living. New York World says the plan of g the Northern Pacific's floating ssured. The mortgage is made pus 1 di to an issue of $15 000,000 romise negotiations having failed e Kansas coal fight, a big fight ertain. It is expected that n the southwest. except Arkansas : work in sympathy with the hren. Elmira. N. Y., National Bank . doors Tuesday. The failure he financial troubles of Col. D. n. It is said that the depositors paid in full. Deposits in the bank 01 orst forest fire for many years zing in Staffordville and Union sooun II 18 " pue hours Surus 10} indis sweeping on toward South ton. A conservative estimate burned over is 800 acres. N Y. rk Herald special from Gran caragua, says that the revolutionary on Sunday won the battle which litted to be the turning point of on. Revolutionists are rejoicing ir victory and predict the earls w of Sacaza. ollowing notice WAS pinned on the the National Bank of Deposit rk Tuesday: "I have taken posses his bank for tl e comptroller of the . Deposits will neither be received d until further notice. Wm. II . national bank examiner." avy wind, accompanied by and lightning, prevailed about Minn., Sunday night, doing to property and injuring a of people. It was one of the T experienced there. Serious re sustained in all parts of ceiver has been asked for Ives e, Williams & Co., New York. eedings for voluntary dissolution , is alleged to be insolvent. Aside at it owes Cornelius Blakeslee ns are $175,000 The firm nd fireworks. Their total liabil $70.28 Assets 8261848 fethodist preachers of New York n and vicinity, at a meeting Mor


Article from New-York Tribune, May 24, 1893

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THE ELMIRA NATIONAL BANK CLOSED. ITS FAILURE SAID TO BE DUE TO COLONEL ROBINSON'S EMBARRASSMENT. Elmira, N. Y., May 23.-The Elmira National Bank closed its doors this morning The bank's failure is said to be the result of the recent financial troubles of Colonel D. C. Robinson. The Mutual Life Insurance Company of New-York agreed to advance $750,000 to Colonel Robinson, but decided that night to render no further assistance to him, and as he was 4 large creditor of the bank the directors concluded to apply to the Controller of the Currency for the appointment of a receiver. The bank examiner reported last week that the bank was perfectly solvent if Colonel Robinson paid his obligations; If not, the depositors would be paid in full with a small loss to the stockholders. Jackson Richardson, president of the National bank, says that the depositors will positively be paid In full. The deposits amount to about $200,000. The suspension of the Elmira National Bank caused a big run to be made on the Elmira Savings Bank. Hundreds of excited depositors crowded around the building all day, but the bank has kept on doing business, and the depositors will be paid in full. All amounts under $100 have been paid on demand. but the usual time allowed by law will be taken on all deposits over $100. Washington, May 23.-Controller Eckels received Information to-day that the Elmira National Bank, of Elmira, N. Y., had closed Its doors. He immediately ordered Bank Examiner Gatehell to proceed to Elmira and assume charge of the bank. The Controller has received no detailed information as to the failure.


Article from San Antonio Daily Light, May 24, 1893

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Brigg's case will be heard before the General Assembly and not returned to New York Presbytery for a rehearing. Elmira National bank, Elmira, N. Y., closes its doors; this caused a run on the Savings bank, but it paid all demands. New Braunfels lights its court house with electric lights, raises $175 for Cisco, and will build a new bridge over the Comal.


Article from The Wichita Daily Eagle, May 25, 1893

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FAILURES. ELMIRA, N. Y., May 24.-Mayor David C. Robinson this morning made a general assignment, making the Elmira National bank, which closed yesterday, a preferred creditor. Mayor Robinson's liabilities approximate $400,000. The statement places Colonel Robinson's indebtedness to tue Elmira National bank for overdrafts, his own paper and notes indorsed by him, at $258,000. The preferences outside of the bank aggregate $55,000. The assignment caused great excitement, and the county clerk's office was besieged by hundreds of people, anxious to see the document NEW YORK, May 24.-The Van Wagner & Williams company, wholesale dealers in hardware, has failed. The failure was preceded by an attachment for $13,000. A receiver was appointed. No statement has been made, but it is not believed that the creditors will sustain very heavy losses. Slow payments are said to be the cause CHICAGO, May 24 -Corwin C. Thompson president of the Thompson Lumber company, has beguu suit in the superior court on two promissory notes, for $16,000 and $3,500 respectively, against George H. Clark and other defendants as surities. The notes were given for money borrowed some time ago to be used in the const uc. tion of an interstate railway running west from Lawrence.


Article from The Portland Daily Press, May 25, 1893

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C. A. PRINCE IN TROUBLE. A Boston Financier With Too Many Irons in the Fire. BOSTON, May 24.-Micah Dyer, Jr., placed an attachment on all the property of C. A. Prince, today. Notes aggregating $10,000, signed by Mr. Prince, went to protest. Mr. Prince has not been in his office for several days. Mr. Dyer says he is unable to locate him. The Evening Record says Mr. Prince had too many irons in the fire. F. V. Parker & Co., stockbrokers, 42 Congress street, have had a petition in insolvency brought against them by John Brown, on a note for $20,000. Henry A. Holden, merchandise broken. 153 Milk street, has gone into insolvency. He owes $14,700; no assets. Elmira's Troubles. ELMIRA, N. Y., May 24. - -Mayor David C. Robinson this morning made a general assignment, making the Elmira National Bank, which closed its doors yesterday a preferred creditor. It is impossible at the present time to approximate the liabilities and assets of Colonel Robinson. The figures may reach $100,000. National Bank Examiner Getchell today took charge of the Elmira National bank. He was not prepared to make a statement. $2 Assets for $1 Debt. NEW YORK, May 24.-The Van Wagoner and Williams company, wholesale dealers in hardware, have failed. A receiver was appointed this afternoon. In June last their inventory showed assets of $225,000; liabilities $75,000. A large creditor says the embarrassment is due solely to tight money. The company has $2 assets for every $1 debts.


Article from The Evening Herald, May 26, 1893

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Run on the Bank Over, ELMIRA, N. Y., May 26.-The run on the Elmira Savings Bank, which was started by the failure of the Elmira National Bank, has pretty nearly ceased. The total amount diawn out is about $8,000, in sums of not over $100. It is not known how large an amount the fifty and sixty days notices call for to be paid at the expiration of that time, but it is probable that confidence will be fully restored and the depositors will allow their money to remain


Article from Morning Journal and Courier, May 26, 1893

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Ugly Rumors A re A float. ELMIRA, May 25.-The run on the Elmira Savings bank which was started by the failure of the Elmira National bank has pretty nearly ceased. The total amount drawn out is about $8,000. Excitement over Mayor Robinson's assignment continues unabated, and many ugly rumors in regard to his transactions are afloat. Some place his liabilities at over $1,000,000.


Article from Waterbury Evening Democrat, May 26, 1893

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Run on the Bank Over. ELMIRA, N. Y., May 26.-The run on the Elmira Savings Bank, which was started by the failure of the Elmira National Bank, has . pretty nearly ceased. The total amount drawn out is about $8,000, in sums of not over $100. It is not known how large an amount the fifty and sixty days notices call for to be paid at the expiration of that time, but it is probable that confidence will be fully restored and the depositors will allow their money to remain.


Article from New-York Tribune, May 27, 1893

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ELMIRA NATIONAL BANK CLOSED. DEPUTY-COLLECTOR CHARLES DAVIS MADE RECEIVER-MAYOR ROBINSON'S OPERATIONS. Elmira, May 26 (Special).-The city of E'mira suffered another misfortune to-day. but one which had been expected. The Elmira National Bank was put in the hands of a receiver by Controller Eckels. Following. as It does, the assignment of Mayor Robinson this failure is regarded as most. unfortanate. Mr. Eckels named as receiver of the bank Charles Davis, of Binghamton, former Deputy Collector in the New-York Custom House. Mr. Davis belonzs to wing of the Democratic party in the Anti-Snapper a State. The appointment being palpably this political one the creditors of the bank are dissatisfied with It. It is evident that the bank has been badly managed. Its loans to Mayor Robinson amounted to $258,000. Bank Examiner Gatehell telegraphed to Mr. Eckels that as a result of his examination he was of the opinion that the bank was hopelessly Insolvent. The Mutual Life Insurance Company of New-York to-day took possession of the Elmira Municipal Company, which owns the gasworks, the electric streetear lines, the waterworks, the electric light plant and other property in this city, worth about $2,000,000. This is the company which Mayor Robinson organized, and of which he was president until a few days ago. The Mutual Life holds the bonds of the company and a controlling interest in its stock. having loaned a large amount of money to Mayor Robinson upon these securities. The insurance company declined to make other loans to support Mayor Robinson's real-estate specialations. Mr. Robinson was deposed from the office of president at a secret meeting of the directors of the Municipal Improvement Company in New-York City a few days ago, and Howard Townsend, a junior member of the firm of Davies, Short & Townsend, the Mutual Life Insurance Company's legal representatives, was elected as his successor. Mr. Townsend, however, has now resigned, and Renben Leland, of New-York, has been elected president in his place. At the same meeting George E. Spencer, of New-York, of the law firm Short & Townsend, was elected secretary of C. H. Baldwin. Mr. was rein of Davies, place Baldwin tained as an officer, however, being elected treasurer of the company. An officer of the Mutual Life said to-day: "There is no reason for wondering why the Mutual Life withdrew its support from Colonel Robinson. It found his property encumbered, and while. perhaps. worth all It is mortgaged for, it is what in financial parlance a 'slow asset.' when hard times is out known too much. as and Colonel overtchk Rbinson him spread he found himself unprepared for them. The Mutual Life. I may say, is amply secured for all the advances made. 1 em of the opinion that, with careful management of his interests, Colonel Robinson will have substantial balance to his credit when final settle. a ment is made. If the large amount of real estate in Elmira which he holds is sold under foreclosure, the outlook for his creditors is doubtful-that is, for the full amount of their claims. If this property is nursed It will improve in value." Mayor Robinson made a similar statement. "I belleve that I have assets safficient to pay all my creditors, but they are not quick assets. They cannot be converted into cash in a moment. Give me time, and all my creditors will be satisfied and r shall be left something. I received a large fortune from my father and I do not 'believe it is all gone." Mr. Robinson informed a friend to-day that he had turned over to the Mutual Life Insurance Company securities worth $1,500,000. The run on the Elmira Savings Bank stopped to-day.


Article from The Enterprise, May 31, 1893

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National Bank Closed. ELMIRA, N. Y., May 34.-The Elmira National bank closed its doors yesterday morning. The bank's failure is the result of the recent financial troubles of Col. D. C. Robinson. The Mutual Life Insurance Company, of New York, agreed to advance $750,000 to Col. Robinson. The company, however, decided Monday night to render no further assistance to the colonel and as he was a large creditor of the bank it was decided by the directors to apply to the comptroller of the currency for the appointment of a receiver. The deposits in the bank amount to about $200,000.


Article from The Sun, June 2, 1893

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THE ELMIRA BANK FAILURE A Part of Mayor Rebisson's Overdrafts Made Good by the Return of Securities. ELMIRA. June 1.-New developments in the failure of the Elmira National Bank and the subsequent assignment of Mayor D. C. Robinson came to light to-day. and they were of a nature to greatly please the bank depositors. who have been waiting 80 anxiously to know what they were to receive. When the bank failed Mayor Robinson owed it $258,000. of which $114,000 was in overdrafts. This was the condition of affairs when Bank Examiner Gatchell took charge of the concern. It is now rumored that Col. Robinson got a hint from the examiners that a certain portion of the overdraft must be mado good to avoid trouble. and that the result was a trip to New York by the Colonel and the subsequent return from there of a batch of securities. The sum that was thus covered into the bank's treasury Is placed at $64,000. and it is understood that arrangements were made for the return of $30,000 more in securities. which are expected here to-morrow morning. It is now thought that with the aid of this money the bank depositors will receive 100 cents on the dollar by assessing the stock for a small amount. and it is believed that if the bank had had the money before its doors were closed the failure would never have occurred. Receiver Davis took charge of the bank today. and the funds were all turned over tn him There Is considerable cash on hand. and it was carried in bushel baskets to the Chemung Canal Bank. where he will deposit all funds. When asked concerning the rumor that Col. Robinson had turned $64,000 into the bank. Receiver Davis said: "I have not seen Col. Robinson yet. and have received no assets from him nor from any one. The examiner. I think. has received some assets which were out of the bank whon it went into liquidation." You any. then. Mr. Davis. that you do not know anything about the $64,000?" I didn't say that. did IY" replied Mr. Davis. who refused to give any further information. Who advanced the $64,000 securities is a question that is causing a good deal of discussion. Col. Robinson is supposed to be bankrupt. having made an assignment. and it is supposed that the money must have been advanced by Now York parties in some WAY concerned in the big overdraft. Cashier Bush is authority for the statement that the overdraft occurred through misunderstanding: that he had been advised that the Colonel had large sums to his credit at the Chase National Bank. and relied on the money being there when it was in reality said to have been used to meet other obligations. The examiner is still at work on certain other mysterious matters connected with the defunct bank. which may result in the balance of the overdraft being returned.


Article from The Abbeville Press and Banner, June 14, 1893

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THE NEWS EPITOMIZED. Eastern and Middle States. THE gala ball and reception to the Infanta Eulalia and her husband, the Infante Don Antonio. arranged by the Circulo Colon Cervantes, was held in the Madison Square Garden Assembly Rooms. New York City, and was attended by a brilliant company. Ex-DEPUTY COLLECTOR CHARLES Davis. of Binghamton. was appointed receiver of the Elmira (N. Y.) National Bank. THE Sunday-school children of Brooklyn, N. Y., had their annual parade. Sixty-five thousand, representing 200 schools, were reviewed by Governor Flower. BERNHARD GUETERBOCK. city editor of the Staats Zeitung. was mysteriously killed by a pistol shot at his home in New York City. PRINCESS EULALIA attended mass in St. Patrick's Cathedral, New York City, in the morning, took a drive in Central Park in the afternoon, and went to a reception given in her honor by the Catholic Club in the evening. PURCELL THOMAS, aeronaut. while making an umbrella descent from the top of the parade house, at Buffalo, N. Y., lost control of the parachute and was precipitated upon the ground below, 3 distance of flity feet. His skull was fractured and he died with in an hour. Thomas's wife and four children witnessed the fatal leap. RHODE ISLAND'S Legislature met at Newport, but the Democrats having unseated a Republican member of the house the Republican Senate refused to join in grand committee. There was no election of State offlcers. Governor Brown threatened to prorogue the Legislature and continue in office. MRS. MARIE NEVINS-BLAINE, the divorced wife of James G. Blaine, was married to Dr. William Tillinghast Bull by the Rev. Dr. Roderick Terry, at New York City CARBIE VOGT, fourteen years old, comsuicide jumping into the Passaic in N. J. anRiver, mitted Newark, by She had been noying a neighbor by having goods sent to her to be paid for on delivery. When she was discovered she was afraid to face what she considered the disgrace and killed herself. FALL RIVER, Mass.. wasthrown into a state of intense excitement, due to the discovery of an atrocious murder, rivalling in many respects those of Mr. and Mrs. Borden. The victim was Miss Bertha Manchester, aged twenty-two years. She was left alone on the farm by her father and brother who went to town. When they returned they found the girl lying dead on the kitchen floor.


Article from The Superior Times, August 5, 1893

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at Hornellsville, N.Y. have fatied. \ RECEIVER has been appointed for the Philadelphia Packing and Provision Company ATTORNEY GENERAL OLNEY was vis itor at Gray Gables, the President's summer cottage. WILLIE SHULTZ, aged 12 and Charles Bauer, aged 14. were drowned near Burlington, la. EIGHTY-THREE Maesachusetts banks decided to require the thirty day notice savings depositors. JUDGE HIGH F THOMPSON died at his home in Van Buren, Ark., from heat prostration and overwork. THE Eagle machine works at Indi anapolis passed into the hands of a receiver. The debts are $100,000. RETURN from school elections in Kan sas show an increase of nearly 100 per cent. in the vote cast by women NINE horses and a barn were de stroved by fire at LaPorte, Ind., entail loss of $40,000 to James Bunton. OFFICER JAMES A. ARVEY was shot and killed at Syracuse, N.Y by George A. Barnes, whom he was trying to an rest. DANIEL DALY was at San Francisco found guilty of manslaughter for hav ing shot and killed John J. Lawton May 7. F.A. LORING & leather dealers at Boston, have made an assignment The firm was considered strong in the trade M. J. MORIARITY, a large furniture dealer at Cleveland, O. has failed. His assets are about 850,000; liabilities not known. INFORMER FLECK, who was kidnaped in the interest of violators of the pro hibitory law regained his home at Pembina, N. D AGANG of Kuklux attempted to whip Lafavette Grimes at Dunlap, Tenn Grimes' sons fired into the crowd and three men were wounded SECRETARYCARLISLE declines to order the withholding of the demand for tax on whisky in bond. in accordance with the petition of many distillers. THE section of the Gearv law provid ing for imprisonment at hard labor has been declared unconstitutional by Federal Judge Ross, at Los Angeles For a few cents Joe Donnelly and Bill McKinney, of Thompson, Mo., beat Samuel Turner to death \ PITTSBURG bank building which was being remodeled fell at the noon hour and one workman was killed A PACIFIC EXPRESS wagon was held up the streets of Wichita, Kas. by three negroes and robbed of $7,500 COMMANDER WHITING, of the Alliance and Miss Etta Ah Fong, of Honolulu be will WHILE bathing in Rock River, near Rock Island. ill.. II Bafordand Miss Fannie Sudlow were drowned THE Chinese six companies will ask rehearing before the United States sn preme court of the Geary law case. THE courts have knocked out the No braska maximum rate law as practically confiscating all railroads in the state Suit for $1,900,000 for violation of contract has been brought by the Wiggins Ferry Company against the Alton road A.G. MORGAN Lexington, Kv., made disbursing clerk of the bureau of engraving and printing at $2,000 per year. SEXATOR HILL delivered an address on Personal Liberty' at the pienic of the Hon-Growers Association at Rome Y. FORRTEEN persons have been arrested charged with the murder of S.P. Brad shaw at Kingston, III. It was a white capontrage. The British warship Triumph sailed from Malta for Portsmouth on Saturday dis with 300 survivors of the Victoria aster on board. MATE GREENLEAF of the ship Crape murdered a sailor on the vovage from Hong Kong to Boston. He avoided the Boston officers Ixattempting to release his impound ed cows near Louisville, Edwin Graham shot Marshal A.J. Blunt and was in turn killed by the officer. MONTREAL'S mayor refuses to take part reception to officers of an Italian warship because in the government isunder the ban of the Vatican. Gov. WAITE. of Colorado, and Reporter Gaston had a hand to hand fight in Denver, the Governor attempting eject Gaston from the excentiveoffice SUIT is brought at St. Paul by the Metropolitan Trust Company mortgage of New York to foreclose $3,220,000 PΓ‘citic on the Wisconsin, Minnesota & road. A STORY is told in connection with the failure of the Elmira National Bank. Elmira, N.Y After the failure.th 111 notes aggregating $31,000 turned among the assets They were by three bank clerks without means and are worthless Gov FISHBACK of Arkansas, is sert onsly ill THE New York mills at Saco will shut down for five weeks New ORLEANS-Chicago round trip rates have been cut to $12. FIVE persons committed suicide at New York on July 28. MINNESOTA Catholics gave a reception at St. Paul to Mgr. Satolli Den STATE TROOPS are under arms at over and sleep in the armory Bank THE Chamberlain National Chamberlain, S.P., has failed. Tue rail rate from New York $10. to cago, first class has been eut to TREMONT and Suffolk mills at time Lowe Mass., will be operated on half THE Union Bank of Portland, has suspended. It is small concern. GEN. J. 11. WALLACE, the well-known aged Union soldier, died atOttawa, III., years FOUR cases of cholera and thre deaths are reported at Naples in twenty ur hours. REPRESENTATIV Lynch is the first in Wisconsin congressman to arrive Washington. J. B. KILBRETH has been made lector and W. Y. Bunn appraiser at New York City the Catholic FIRE swept over N.J., damaging man terv at Paterson, costly monuments FULLY 200 people were made hom less by the flood at Pueble, Col. The reaches $250,000. loss Union Indurated Fiber burned ComTHE works at Lockport pany' $80,000 to $100,000. Loss. issouri authorities will


Article from Evening Star, July 6, 1894

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The Elmira National Bank. The controller of the currency has indicated to those interested in the resumption of the Elmira (N.Y.) National Bank, which suspended about a year ago, the conditions upon which the bank could resume, namely, the payment of the indebtedness of the bank in full, the payment of the capital 'stock in full and the redemption of all outstanding receiver's certificates. The receiver, examiner and Mr. Robinson, who is at the head of the reorganization scheme, are in conference, and it is expected that the conditions will be complied with.


Article from Evening Star, September 14, 1894

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The Elmira National Bank. The controller of the currency has indicated to those interested in the resumption of the Elmira (N.Y.) National Bank, which suspended about a year ago, the conditions upon which the bank could resume, namely, the payment of the indebtedness of the bank in full, the payment of the capital 'stock in full and the redemption of all outstanding receiver's certificates. The receiver, examiner and Mr. Robinson, who is at the head of the reorganization scheme, are in conference, and it is expected that the conditions will be complied with.


Article from The Evening World, September 14, 1894

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# GOOD NEWS FOR ELMIRA. The Municipal Improvement Co. Will Soon Be on Its Feet. It is stated that the readjustment of affairs of the Elmira Municipal Improve-ment Company will soon be completed. The receiver is to be discharged and will be succeeded by Col. D. C. Robin-son, ex-Mayor of Elmira, who will be made President. Col. Robinson's personal solvency will be terminated with the aid of the Mutual Life Insurance Company, which will receive a bond for $1,000,000, indorsed by leading capitalists. The Elmira National Bank will also be enabled to resume business, $200,000 having been raised for its relief. It is said that the only need which the Elmira Municipal Improvement Company has for money is to make final payments on its electric power house, which cost $250,000.


Article from The Evening World, September 14, 1894

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GOOD NEWS FOR ELMIRA. The Municipal Improvement Co. Will Soon Be on Its Feet. It is stated that the readjustment of affairs of the Elmira Municipal Improvement Company will soon be completed. The receiver is to be discharged and will be succeeded by Col. D. C. Robinson, ex-Mayor of Elmira, who will be made President. Col. Robinson's personal solvency will be terminated with the aid of the Mutual Life Insurance Company, which will receive a bond for $1,000,000, indorsed by leading capitalists. The Elmira National Bank will also be enabled to resume business, $200,000 having been raised for its relief. It is said that the only need which the Elmira Municipal Improvement Company has for money is to make final payments on its electric power house, which cost $250,000.


Article from The Evening World, September 14, 1894

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# GOOD NEWS FOR ELMIRA. The Municipal Improvement Co. Will Soon Be on Its Feet. It is stated that the readjustment of affairs of the Elmira Municipal Improve-ment Company will soon be completed. The receiver is to be discharged and will be succeeded by Col. D. C. Robin-son, ex-Mayor of Elmira, who will be made President. Col. Robinson's personal solvency will be terminated with the aid of the Mutual Life Insurance Company, which will receive a bond for $1,000,000, indorsed by leading capitalists. The Elmira National Bank will also be enabled to resume business, $200,000 having been raised for its relief. It is said that the only need which the Elmira Municipal Improvement Company has for money is to make final payments on its electric power house, which cost $250,000.


Article from New-York Tribune, September 15, 1894

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12mo. $1.50. Sold by all booksellers, or sent, postpaid, by CHARLES SCRIBNER'S SONS, 153-157 Fifth Avenue, New-York. GETTING ELMIRA TROUBLES IN SHAPE. THE PLAN VIRTUALLY ARRANGED FOR RESUSCITATING THE MUNICIPAL IMPROVEMENT COMPANY AND THE ELMIRA NATIONAL BANK. It is understood that arrangements are about completed for the restoration to solvency of the affairs of Colonel D. C. Robinson, ex-Mayor of Elmira, and the consequent resuscitation of the Elmira Municipal Improvement Company and the Elmira National Bank. The negotiations referred to in yesterday's Tribune have been successfully concluded, and only detail mattens remain to be adjusted. It is said by well-Informed persons that Colonel Robinson has arranged to give the Mutual Life Insurance Company a bond for $1,000,000, guaranteed by certain eapitalists, whose names are withheld, which will put him upon his feet. The reorganization of the Municipal Improvement Company will follow as a matter of course. The company is considered to be virtually solvent, but its affairs were so mixed up with the personal affairs of Colonel Robinson that his embarrassment caused its suspension. The company only owes some final payments on its electric carhouse, which cost some $260,000. and it can arrange its debts 80 as to be relieved of the present receivership. Upon the discharge of the receiver Colonel Robinson will resume control of the management as president. The arrangement contemplates the resuscitation of the Elmira National Bank. It will receive $200,000 to make good its impairment of capital, which is now already in hand, contributed by persons identified with the institution.


Article from The Indianapolis Journal, March 6, 1895

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# AN IMPORTANT CASE. It Involves the Validity of State Laws as to Preferential Claims. WASHINGTON, March 5.--The Supreme Court of the United States to-day heard ar- guments in the case of Chas. Davis, plaintiff in error, vs. the Elmira Savings Bank. The case involves the question as to whether the claims of savings banks shall have preference over other claims on national banks which have failed and involve large interests. It appears that at the time this case was in the Court of Appeals, in May last, there was more than $18,000,000 of sav- ings bank deposits in national banks in New York alone. Nearly all the States have laws giving various preferences in the ad- ministration of the assets of the insolvent banks. There are in the charge of the Controller of the Currency the assets of more than one hundred national banks in process of administration. Suits have been brought in other States on such preferential statutes, and more are threatened. The moneys realized from the assets of these failed national banks are in the treasury awaiting distribution by the Controller to the creditors of the different banks, and the United States is a creditor. The decision in the present case will, when made, deter- mine what shall be done in all similar cases with such moneys, and will not only affect the savings banks, but the depositors of the failed national banks as well. There is apparently a conflict between the State law of New York and the congressional statute bearing on the question, as there is between the national law and laws of the various States. The Supreme Court of New York and the Court of Appeals of that State have both held, in the case now before the Supreme Court of the United States, that the State law was valid, and that the savings banks was entitled to a prefer- ence in the settlement of the affairs of the Elmira National Bank, in which the funds of the Elmira Savings Bank were deposited, and of which Davis, the plaintiff in error, is receiver. The argument in the cases involving the constitutionality of the income-tax law will be heard in the United States Supreme Court to-morrow. There are three such cases on the court docket, namely, those. of J. G. Moore for an injunction against the collector of internal revenue; of Charles Pollock vs. The Farmers' Loan Company et al., and of Louis Hyde vs. The Trust Company, all of which have been ad- vanced and passed together. Attorney-gen- eral Olney has announced his intention to represent the government personally.