Germania Savings Bank - New York, NY

Episode Information

Episode UID: 4523358090946
Episode Type: Suspension → Closure
Bank Type: savings
Bank ID: 452335809 hash
Start Date: October 12, 1878
Location: New York, New York (40.714, -74.006)

Metadata

Model: gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 83bb2911530e3ec0

Response Measures

None

Description

The bank was located in Morrisania, which was annexed by New York City in 1874.

Events (2)

1. October 12, 1878 Receivership

Newspaper Excerpt: William J. Best, receiver, have made written offers of compromise for a pro rdta share of their several liabilities in the suit recently begun by some of the depositors
Source: newspapers

2. * Suspension

Cause: Bank Specific Adverse Info
Cause Details: Alleged illegal investments by trustees leading to receivership
Newspaper Excerpt: sued by William J. Best, receiver... to recover $250,000, alleged to be illegally invested by them
Source: newspapers

Newspaper Articles (1)

1. October 12, 1878 The New York Herald New York, NY

Article from The New York Herald, October 12, 1878

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Article Text

GERMANIA SAVINGS BANK. Six of the trustees of the Germania Savings Bank, of Morrisania, who have been sued by William J. Best, receiver, have made written offers of compromise for a pro rdta share of their several liabilities in the suit recently begun by some of the depositors to recover $250,000, alleged to be illegally invested by them. There are in all about twenty-three of the trustees and the liability ranges from $2,500 to $10,000. The BIX trustees have offered $40,000. Mr. William P. Fiero, of Chittenden & Fiero, was suomitted this ofter ou the part of Mr. Best, the receiver, to the Supreme Court.