Ulster County Savings Institution (Kingston, NY)

Episode Information

Episode UID
50019271101
Episode Type
Run → Suspension → Reopening
Bank Type
savings
Bank ID
5001927 routing
Routing Number
50-0192
Start Date
September 19, 1891
Location
Kingston, New York (41.927, -73.997)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
13cbc47183a07034

Response Measures

None

Description

Bank is a state‑incorporated savings institution (incorporated by an act of the legislature).

Events (4)
1. September 19, 1891 Run
Cause
Bank Specific Adverse Info
Cause Details
Large embezzlement by Treasurer James E. Ostrander (and assistant) reported, prompting depositors to withdraw funds.
Measures
Other local banks provided assistance (e.g., Rondout National lent $30,000); trustees issued a statement and bank remained open extended hours to pay depositors.
Newspaper Excerpt
Long before the time for opening the bank this morning a small army of depositors was massed in front of the main entrance...the run continued steadily throughout the morning.
Source
newspapers
2. October 3, 1891 Suspension
Cause
Government Action
Cause Details
State banking superintendent took the bank into custody after examiners found large embezzlement and the institution closed its doors.
Newspaper Excerpt
The Ulster County Savings Institution has closed its doors and is in charge of Bank Superintendent Preston.
Source
newspapers
3. October 6, 1891 Receivership
Newspaper Excerpt
Judge Fursman...has appointed Nicholas E. Brodley temporary receiver of the Ulster County Savings bank.
Source
newspapers
4. December 24, 1891 Reopening
Newspaper Excerpt
Justice Fursman signed an order to-day allowing the Ulster County Savings Institution of Kingston to resume business...15 percent of the aggregate deposits is credited to the bank and payment limited to 25 percent of deposits until further order of the court.
Source
newspapers

Newspaper Articles (22)
1. September 19, 1891 The Morning Call San Francisco, CA
Article from The Morning Call, September 19, 1891

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CONDENSED TELEGRAMS. SAVANNAH (Ga.), Sept. 18.-Albert Morea, alias Grant Kitchen, a negro wife-murderer, was hanged in the County Jall this morning. BERLIN, Sept. 18.-At the experiment today at the Juterbogk, near this city, with a new style field piece, a shell exploded and seriously injured six persons. BERLIN, Sept. 18.-Dispatches from Zanzibar state that Lieutenant Lettenborn and sixty-five survivors of the Zalewski expedition have arrived at Bagamoyo. GAINSVILLE (Tex.), Sept. 18.-It is said there will probably be a general strike on the Santa Fe because of the laying off of conductors and brakemen without cause. GUTHRIE (O. T.), Sept. 18.-The Cherokees have given notice of an appeal from the decision of Judge Green, and will carry the case to the Supreme Court of the United States. DULUTH (Minn.), Sept. 18.-Mrs. Robert Kennedy. her son and her daughter, Mrs. R. W. Armstrong, are said to have fallen heir to a fortune in England valued at $9,000,000. BERLIN, Sept. 18.-The German press generally views the "Lohengrin" incident with indifference, some persons remarking the firmness of the French Government as reassuring. CINCINNATI, Sept. 18.-In consequence of revelations by Burglar Anderson. L. M. Hadden, an attorney, a d Cal Tucker, night watchman at the jail, have been arrested on the charge of aiding the prisoner to escape. CITY OF MEXICO, Sept. 18.-The Mexican Government has declared the concession granted Messrs. Ellis and Ferguson for the colonization of negroes in Mexico forfeited, on account of non-compliance with the contract. NEW YORK, Sept. 18.-The attachment granted by the Supreme Court in the suit of the Mexican National Railroad Company was dismissed to-day by Justice Pratt of Brooklyn upon filing an undertaking for $170,000 by the company. KANSAS CITY, April 18.-A Star special from Topeka, Kans., says the United States Savings Bank, which failed last March, was again placed in the hands of a receiver this morning. William Sims, ex-State Treasurer, is appointed receiver. PHILADELPHIA, Sept. 18.-Lincoln PerSOD, a noted desperado, one of a number of prisoners being taken to the Penitentiary, picked the lock on his handcuffs and then escaped by jumping from the train, which was going at the rate of forty miles an hour. ROME, Sept. 18.-The Pope's health is said to be better than for a long time. Nevertheless, his physicians insist more vigorously than ever that he observe their hygienic prescriptions in order that he may be strong enough to receive the various piigrimages now being organized. CHARDON (Ohio), Sept. 18.-The report has reached this city of the killing of three men at Montville, ten miles from here, by the explosion this morning of a boiler in a jelly factory. The entire building was demolished. It was reported later that two little girls were among the killel. EAGLE PASS (Tex.), Sept. 18.-R. H. Duncan was hanged here at 11:25 o'clock his morning. The crime for which He WAS xecuted was the murder, in February, 1889, of the Williamson family of four persons of Sansaba County, Tex. The motive for the murder will never perhaps be discovered. KINGSTON (N. Y.). Sept. 18.-The Trustees of the Ulster County Savings Institution have removed James E. Ostrander from the office of Treasurer. The amount misappropria ed is between $60,000 and $80,000. Ostrander is under arrest at his house, and will turn over real estate to cover his shortage.

2. September 20, 1891 The Sun New York, NY
Article from The Sun, September 20, 1891

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THE KINGSTON BANK DEFAULTER. He Makes an Assignment, Making His Bondsmen Preferred Creditors. KINGSTON. Sept. 19.-The defalcation of Treasurer Ostrander of the Ulster County Savings Institution has been the absorbing topic of conversation here to-day. Long before the time for opening the bank this morning a small army of depositors was massed in front of the main entrance. waiting to present their books and receive their deposits. The news of the embezzlement had reached the country towns. and farmers and others hastened to the city to withdraw their money. Many. upon learning that the stability of the bank was unquestioned. and that the surplus was far in excess of any possible amount that Ostrander had taken. did not attempt to draw their deposits. The run continued steadily throughout the morning. and the bank officials were kent busy paying out the money. The bank on Saturday closes at noon. but large posters conspienously displayed in front of the building announced that. in order to accommodate the depositors. the bank would be kept open until 6 o'clock or later. During the afternoon the excitement was somewhat allayed. Ostrander is at his home in custody of Chief of Police Hood and Detective Cahili. Ha has nothing to say regarding the charges. He is by no means so nonchalant as he was when taken before the Recorder yesterday. Intimate friends who have seen him to-day say that he is 8 mental and physical wreck. Judge Edwards of the Supreme Court of this district, who was expected here to-day to hold Special Term. and before whom application was to be made to admit the prisoner to bail. sent word that he could not come. Judge Sanderson of Athens. the county Judge of Greene county. was telegraphed to. asking that he he present at the opening at the Court of Sessions. this city. next Monday. to admit Ostrander to bail. District Attorney Vandertyn arrived here to-day to take charge of the case on behalf of the people. He had an interview with Chief Hood. which resulted in his leaving the prisoner in his custody until Monday. Dr. E. H. Goughran is-ued a certificate stating that he had examined Mr. Ostrander and that in his opinion it would be hazardous to confine the prisoner in jail, or even compel him to he taken out of town before a Judge to make application for bail. Mr. Ostrander made A general assignment of his property to-day to Cap. Jacob H. Tremper of the Romer and Tremper Steamboat Company. who is his son-in-law. making preferences of his bondsmen. It is impossible ns vet to tell the exact amount of money Ostrander appropriated to his own use. The peculations cover a period of ten or twelve years. and were taken in sums ranging from $100 to $4.000. County Judge Clearwater is noting as his legal adviser. The bank is amply provided with funds to Day all demands upon it. Outside speculators are purchasing the books of depositors in order to make the three months' interest. which is about due. Cashier Alliger of the Rondout National Bank gave the savings bank $30.000 this afternoon. and will aid it in any possible way. The other local national banks offer 10 come to its assistance if necessary.

3. October 4, 1891 The Morning News Savannah, GA
Article from The Morning News, October 4, 1891

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HALF A MILLION STOLEN. THE ULSTER COUNTY SAVINGS INSIITUTION LOOTED. Its Treasurer and His Assistant Dipping Into Its Funds For Twenty Years-A Run on the Institution a Few Weeks Ago Quieted and the True Condition of the Bank Unknown to Anybody. KINGSTON, N. Y., Oct. 3.-The Ulster County Savings Institution has closed its doors and is in charge of Bank Superintendent Charles M. Preston. Expert examiners have been at worksince Tuesday, and have found already that the enormous sum of $463,000 has been stolen by Treasurer Ostrander and Matthew T. Trumpbour, the assistant treasurer, and it is feared that the stealings will reach over that amount. At midnight Supt. Preston swore out a complaint charging Trumpbour with perjury in swearing to false statements contained in of the bank to the banking and was at his Chief of had department, the house July report by Trumbour Police and Hood. arrested He his clothes all packed up, was preparing to flee from town. He was locked up jail. OSTRANDER ALSO IN JAIL. Ostrander was arretted about twoweeks ago for embezzling $75,000 and was under bonds of $20,000, and his bondsmen last night turned him over to Sheriff Dill and he was also locked up. When Ostrander was arrested there was a great run on the bank for three days, but other banks came to the rescue of the Ulster County Savings Institution, and the trustee made a statement showing that there was surplus of $247,000. The statement being signed by such well known men as Judge Alton B. Parker, Gen. George H. Sharpe, Judge William S. Kenyon, postmaster; Noah Wolven, John W. Searing of the Kingston Leader. and other reputable citizens, had a reassuring effect, and depositers who drew out their money brought it back. STEALING FOR TWENTY-FIVE YEARS. Ostrander was appointed treasurer in 1867, and held the office from that time until part of his defalcation became known, about two weeks ago, when he was dismissed, and is now in jail. Matthew T. Trumpbour, who is a son of the first treazurer of the bank, was made assistant treasurer about the time Ostrander was made treasurer. He continued in that position until his arrest last night. The pair have been carrying on a system of falsifying the books for twenty years, increasing their defalcation constantly and carrying on a continuous system of deceit and perjury. They issued a statement Sept. 19, which, after thanking other banks for the assistance rendered, said to the depositors: We know that we cannot deceive you. Our assets are intact and open to your inspection. We have to night at the close of business." Then followed a statement which showed a surplus of $250,000. MANY ROBBED OF THEIR ALL. It is impossible to tell or even conjecture the effect that the closing of the bank will have on the people of Ulster county. A majority of the depositors are poor people, many of them old men and women dependent on the interest on the few thousands of dollars they had in the bank, and such men and women, with tears in their eyes, can be seen everywhere about the city, fearing loss of their savings. The feeling against the trustees who signed the statement is bitter in the extreme, and Messrs. Parker, Sharpe and the others are characterized as thieves for making the depositors believe the bank was solvent when they should have known its condition. That they were guilty of criminal negligence there is no question. THE VICE PRESIDENT ALSO CENSURED. The VICO president, N. E. Broadhead, who was in executive charge of the bank, also comes in for his share of the censure in signing the statement and in allowing the people to redeposit their money. Mr. Broadhead was one of the most. popular young men in the county, being elected county treasurer last fall, which position he now holds, and every one in the county had most implicit faith in his trustworthiness, all of which is now shattered by the of unfortunate turn in the affairs the bank. There are two other,savings bank in the city; the Rondount and Kingston, and the trustees of these, after consultation, decided to demand sixty days' now tice from depositors should there be a run of any consequence. A run has already begun, but so far everything has been paid on demand.

4. October 4, 1891 The Morning Call San Francisco, CA
Article from The Morning Call, October 4, 1891

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EMBEZZLEMENT AND PERJURY. Banks Wrecked by Dishonest Officers. Nearly Half a Million Stolen by a Treasurer and His Assistant - The Chrisman and Clearfield Suspensions. Special to THE MORNING CALL KINGSTON (N. Y.), Oct. 3.-The Ulster County Savings Institution closed its doors to-day, and is in charge of Bank Superintendent Preston. The examiners, who have been at work since Tuesday, have found already that $463,000 have been stolen by Treasurer Ostrander and Matthew Trumpbour, Assistant Treasurer, and it is feared the stealings will reach over that amount. At midnight last night Superintendent Preston swore to a complaint charging Trumpbour with perjury in swearing to false statements contained in the July report of the bank to the Banking Department, and Trumpbour was arrested. He was just preparing to flee from town. Ostrander was arrested about two weeks ago for embezzling $75,000. and was under bonds for $20,000. His bondsmen last night turned him over to Sheriff Dill and he was also locked up in jail. When Ostrander was arrested there was a run on the bank for three days, but the other banks came to the rescue and the Uister County Savings Institution and Trustees made a statement showing a surplus of $247,000. As the statement was signed by a number of prominent men who were Directors in the bank, it had a reassuring effect and depositors who drew out their money brought it back. The system adopted by Ostrander and Trumpbour was most ingenious and for twenty years has baffled the skill of expert examiners in the employ of the State. In carrying it out deceit and perjury were frequently and effectively employed. The statement showed the resources to be $2,135,000; due depositors, $1,888,000; surplus, $247,000. It i is impossible to tell, or even conjecture, the effect the closing of the bank will have on the people of Ulster County. The majority of the depositors are poor people. There are two other savings banks in the city of Rondout and Kingston, the Trustees of which have decided to demand sixty days' notice from depositors should there be a run of any consequence. The feeling against the Trustees who signed the statement is bitter in the extreme and they are characterized as thieves for making the depositors believe the bank solvent, when they should have known its condition. First Vice-President Brodhead, who had executive charge of the bank, also comes in for his share of censure in signing the statement and in allowing the people to deposit their money. The institution was incorporated by an act of the Legislature April 12, 1851. The people had great confidence in the institution. It is said a number of bondsmentioned as being in the safe by the Trustees were hypothecated in New York by Ostrander and Trumpbour. Another method mentioned was that deposits in many cases were entered on the bank register for only half and one-third of the amount received, while the entries in the depositors' books were for the full amount, the difference being taken by the thieves. The streets of Kingston are filled with people and depositors are arriving on every train and by all manner of vehicles. Occasionally some of the excited farmers threatened to break into the bank building and get their money, while others suggested a lynching party be formed to hang Ostrander and Trumpbour. Business is virtually suspended. A man who has 97000 on deposit developed symptoms of insanity, and it is feared it will be necessary to take him to the asylum. The city officials, fearing the threats to burn the jail where Ostrander and Trumpbour are contined, summoned the fire department, the members of which are now watching the bank building, the court-house and the jail opposite. The prisoners were arraigned this afternoon. Their examination is set for Monday morning. It is stated on the street to-day that after its affairs are wound up the bank will pay depositors seventy-five cents on the dollar. There was quite a heavy run on the Kingston Savings Bank, which is opposite the closed bank. The trustees of this institution claim the bank can pay its depositors in full. Should the run continue Monday the bank tru-tees will probably compel the giving of sixty days notice by depositors.

5. October 4, 1891 The Helena Independent Helena, MT
Article from The Helena Independent, October 4, 1891

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Half a Million Stolen by Officers of a Bank at Kingston, 'X 'N Perjury and Deceit Freely and Effectively Used by the Palls A False Statement Lures Back Depositors Who Had Drawn Out-Other Bank Crooks. KINGSTON. N. Y., Oct. 3.-The Ulster County Savings Institution closed its doors and is in charge of Bank Superintendent Preston. Examiners have been at work since Tuesday and already have found that $463,000 have been stolen by Treasurer Ostrander and Matthew T. Trumpbour, assistant treasurer. and, it is feared At the stealing will reach over that amount. midnight last night Superintendent Preston swore to a complaint charging Trumpbour with perjury in swearing to state- the ments contained in the July report of bank to the banking department, and Trumpbour was arrested. He was just preparing to flee from the town. Ostrander for odu syoem OM3 was embezzling $75,000, and was under bonds for $20,000. His bondslast night turned him over to men Sheriff Dill. and he was also locked up in When Ostrander was arrested there but jail. a run on the bank for three days, was other banks came to the rescue of the Ulster County Savings institution and the of trustees made a statement showing a surplus $247,000. As the statement was signed by number of prominent men of the city. a who were directors of the bank. it had a reassuring effect and the depositors who drew out their money brought it back. The system adopted by Ostrander and Trumpbour was most ingenious, and for twenty years baffled the skill of expert examiners in the employ of the state. In carrying it out, deceit and perjury were frequently and effectively employed. The statement showed resources, $2,135,000; due depositors, $1,888,000: surplus, $247,000. It is impossible to tell or even conjecture the effect the closing of the bank will have the people of Ulster county. A majority of on the depositors were poor people. There two other savings banks in the city, the are Bondout and the Kingston, the trustees of

6. October 4, 1891 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, October 4, 1891

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A KINGSTON, N. Y., BANK FAILS. Nearly Half a Million Dollars Stolen by Two Bank Officials. KINGSTON, N. Y., Oct. 3.-The Ulster County Savings Institution, which was incorporated by an act of the legislature of April 12, 1851, has closed its doors, and is in charge of Bank Superintendent Preston. The examiners, who have been at work since Tuesday, have already found that $463,000 has been stolen by Treasurer Ostrander, and Matthew T. Trumpboar, assistant treasurer, and it is feared the stealings will reach over that amount. At midnight last night Superintendent Poston swore to a complaint charging Trumpboar with perjury in swearing to false statements contained in the July report of the bank to the banking department and Trumpboar was arrested. He was just preparing to flee from town. Ostrander was arrested about two weeks ago for embezzlement of $75,000 and was under bonds for $20,000. His bondsmen last night turned him over to Sheriff Dill, and he was also locked up in jail. When he was arrested there was a run on the bank for three days, but other banks came to the rescue of the Ulster county institution, and the trustees made a statement showing a surplus of $247,000. As the statement was signed by a number of prominent men of the city who were directors of the bank, it had a reassuring effect, and the depositors who drew out their money brought it back. The system adopted by Ostrander and Trumpboar was most ingenious, and for twenty years they have baffled the skill of expert examiners in the employ of the state. In carrying it out deceit and perjury were frequently and effectively employed. A statement of the resources showed $2,135,000; due depositors, $1,888,000; surplus, $247,000. It is impossible to tell or even conjecture the effect the closing of the bank will have on the people of Ulster county. A majority of the depositors were poor people. There are two other savings banks in the city, the Rondout and the Kingston, the trustees of which have decided to demand sixty days' notice from depositors should there be runs of any consequence. The feeling against the trustees who signed the statement of the Ulster County Savings Institution, is bitter in the extreme, and they arecharacterized as thieves for making the depositors believe that the bank was solvent when they should have known its condition. First Vice-President Brodhead, who had executive charge of the bank, also comes in for his share of censure in signing the statement, and in allowing people to deposit their money. The people had great confidence in the institution. It is said that a number of the bonds mentioned in the statement made by the trustees were hypothecated in New York by Ostrander and Trumpboar. Another method mentioned was that deposits in many cases were entered on the bank register for only a half and a third of the amount received, while entries in the depositors' books were for the full amount, the difference being taken by the thieves. The prisoners were arraigned this afternoon. Their examination is set for Monday. It is stated on the street today that after its affairs are wound up the bank will pay depositors 75 cents on the dollar. The streets of Kingston are filled with people. and depositors are arriving on every train and by all manner of vehicles. Occasionally some of the excited farmers threaten to break into the bank building and get their money, while others suggest that a lynching party be formed to hang Ostrander and Trumpboar. Business is virtually suspended. A man who had $700 on deposit has developed symptoms of insanity, and it is feared it will be necessary to take him to the asylum. The city officials, fearing that the threats to burn the jail, where Ostrander and Trumpboar are confined, would be executed, summoned the fire department, the members of which are now watching the bank building, courthouse and jail opposite. There was a heavy run on the Kingston savings bank, which is opposite the closed bank. The trustees of this institution claim that the bank can pay its depositors in full. Should the run continue on Monday the bank trustees will probably compel the giving of sixty days' notice by depositors.

7. October 4, 1891 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, October 4, 1891

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A Kentucky Bank Closed. KINGSTON, Ky., Oct. 3-The Ulster County Savings institution has closed its doors and is in charge of Bank Superintendent Preston. Examiners have been at work since Tuesday and already have found $463,000 has been stolen by Treasurer Ostrander and Matthew T. Trumpbour, assistant treasurer, and it is feared their stealings will reach over that/amount. At midnight last night Superintendent Preston swore to a complaint charging Trumpbour with perjury in swearing to false statements contained it the July report of the bank to the banking department, and Trumpbour was arrested. He was just preparing to flee from the town. Ostrander was arrested about two weeks ago for embezzling $75,000 and was under bonds for $20,000. His bondsmen last night turned him over to Sheriff Dill and he was also locked up in jail. When Ostrander was arrested, there was a run on the bank for three days, but other banks came to the rescue of the Ulster County Savings institution and the trustees made a statement showing a surplus of $247,000. As the statement was signed by a number of prominent men in this city who were directors of the bank, it had a reassuring effect, and depositors who drew out their money brought it back. The system adopted by Ostrander and Trumpbour was most ingenious, and for twenty years baffled the skill of expert examiners in the employ of the state. In carrying it out deceit and perjury were frequently and effectively employed. The statement showed resources, $2,135,000; due depositors, $1,888,000; surplus, $247,000. It is impossible to tell, or even to conjecture, the effect the closing of the bank will have on the people in Ulster county. A majority of the depositors were poor people. There are two other savings banks in the city, the Rondout and Kingston, the trustees of which have decided to demand sixty days' notice from depositors should there be a run of any consequence. The feeling against the trustees who signed the statement is bitter in the extreme, and they are characterized as thieves for making depositors believe the bank was solvent when they should have known its conditions. First Vice-President Brodhead, who had executive charge of the bank, also comes in for his share of censure in signing the statement and in allowing people to deposit their money. Ulster County Savings institution was incorporated by an act of the legislature April 12, 1851. The people had great confidence in the institution. It is said a number of bonds mentioned in the statement by the trustees were hypothecated in New York by Ostrander and Trumpbour. Another method mentioned was that deposits in many cases were entered on the bank's register for only a half and a third of the amount received, while entries in depositors' books were for the full amount, the difference being taken by the thieves. The streets of Kingston are filled with people and depositors arearriving on every train and by all manner of vehicles. Occasionally some of the excited farmers threaten to break into the bank building and get their money, while others suggest a lynching party be formed to hang Ostrander and Trumpbour. Business IS virtually suspended. A man who had $7,000 on deposit developed symptons of insanity and it is feared it may be necessary to take him to the asylum. The city officials fearing threats to burn the jail where Ostrander and Trumpbour are confined will be execute! summoned the fire department members of which are now watching the bank building, court house and jail opposite. The pr soners were arraigned this afternoon. Their examination was set for Monday morning. It was stated on the street to-day that after its affairs are wound up the bank will pay depositors seventy-five cents on the dollar. There was quite a run on the Kingston savings bank, which is opposite the closed

8. October 5, 1891 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, October 5, 1891

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STOLE HALF A MILLION. The Defalcation at the Kingston Bank Much Greater Than Supposed. KINGSTON, N. Y., Oct. 5.-All.Ulster County is in the greatest excitement over the closing of the doors of the U1ster County Savings Institution. Expert examiners have been at work since Tuesday, and have found already that the enormous sum of $468,000 has been stolen by Treasurer Ostrander and Matthew T. Trumpbour, assistant treasurer, and it is feared that the stealings will reach over that amount. 8 Superintendent Preston swore to complaint charging Trumpbour with perjury in swearing to false statements contained in the July report of the bank to the Banking Department, and Trumpbour was arrested at his house by Chief of Police Hood. He had his clothes all packed up and was preparing to flee from town. He was locked up in jail and there he remains. Ostrander was arrested about two weeks ago for embezzling $75,000 and was under bonds of $20,000. His bondsmen Friday night turned him over to Sheriff Dill, and he was also locked up in jail. When Ostrander was arrested there was a great run on the bank for three days, but the other banks came to the rescue of the; Ulster County Savings Institution, and the trustees made, a statement showing that there was a surplus of $245,000. The statement being signed by such well known men as Judge Alton B. Parker, Gen. George H. Sharpe, Judge William S Kenyon, Postmaster Noah Wolven, John W. Searing ef the Kingston "Leader," and other reputable citizens, had a reassuring effect, and the depositors who drew out their money brought it back again. The system adopted by James E. Ostrander and Matthew W. Trumpbour, the latter being fully cognizant of the stealing and assisting in concealing it, for the purpose of swindling the depositors and hiding the theft, which grew by degrees, was most ingenious, and for twenty years has baffled the skill of expert examiners in the employ of the State. In carrying it out, deceit and perjury have been frequently and effectively employed. The people had great confidence in the institution, and the deposits, from $546,873 in 1867, ran up to $2,196,070 in 1873. No matter what the state of the money market might be, it was always conceded by every one that the Ulster County Savings Institution was sound.

9. October 6, 1891 Evening Journal Wilmington, DE
Article from Evening Journal, October 6, 1891

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Brodley Made Receiver. KINGSTON, N. Y., Oct. 6.-Judge Fursman, of Troy, has appointed Nicholas E. Brodley temporary receiver of the Ulster County Savings bank. He was for many years cashier of the Kingston National bank and was vice president of the defunct institution. The appointment gives great satisfaction.

10. October 6, 1891 The Roanoke Times Roanoke, VA
Article from The Roanoke Times, October 6, 1891

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Kingston Banks Preparing For Runs. KINGSTON, N. Y. Oct., 5.-[Special]As was expected the city is rapidly filling up with people from all over the county who are depositors in three city savings banks. Business is at a stand still and the crowds are discussing the wrecking of the Ulster County Savings Institution. Kingston Savings Bank and Roundout Savings have fixed notices on their banks house doors notifying depositors that sixty days' notice, as required by law, must be given. Large crowds of depositors with bank books in hand stand in front of hese institutions. It is said Saugerties and New Paltz Savings Banks will demand sixty days' notice should there be any indication of a run.

11. October 6, 1891 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, October 6, 1891

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For Most Answers. H! Next to Most Answers. For Funniest Answer. H Next to Funniest Answer. THE KINGSTON STEAL. KINGSTON, N. Y., Oct. 5.-As was expected, the city is rapidly filling up with people from all over the county who are depositors in the three city savings banks. Business is at a standstill, and everybody is talking over the wrecking of the Ulster county Savings institution. The Kingston Savings bank and the Rondout Savings bank have each posted notices on their banking house doors notifying depositors that the sixty days' notice required by law must be given. The large crowds of depositors with bank books in hand stand in front of these institutions. It is said the Saugerties and New Paltz Savings banks will demand the sixty days' notice should there be any indication of a run. Depositors continued to arrive* in the city in large numbers this morning. and by noon the block of Wall street wherein the Ulster County Savings institution, the Kingston Savings bank, and the court house and jail are situated, was filled with people. Several policemen were stationed in front of the Kingston Savings bank to keep order. Of course, all the depositors could do was to give the required sixty days' notice. There was a report that a large number of men who held a meeting on Sunday were coming from Creek Lecks, and the Fourteenth Separate company members were notified to be prepared to report at the armory at a signal. The robbery and wreck of the bank continues to be the all-absorbing topic in the city and county. While, to a certain extent. the depositors and their friends in the city have become somewhat calmer, the depositors from the country towns, who have but just heard of the enormous thefts alleged against Ostrander and Trumpbour, are keeping up the excitement by their denunciations of the thieves.

12. October 6, 1891 Rock Island Daily Argus Rock Island, IL
Article from Rock Island Daily Argus, October 6, 1891

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ABBREVIATED TELEGRAMS. Jacob Turney, a Pennsylvania ex-congressman, is dead. Another strike is in progress among the dock laborers of London. Three persons lost their lives in a tenement house fire in New York. General Patrick Kirby died suddenly at his residence in New York yesterday morning. The Standard Oil company is reported to be behind a scheme to combine the southern rice mills. The directors of the Milwaukee exposition will try the experiment of keeping open Sunday, Oct. 11. A small boy and a cigarette caused a $10,000 fire at the Belton, Tex., cotton compress. About 400 bales were burned. Mrs. Hannah Evans, aged 42, was burned to death at Wilmington, Del. Her cloth. ing caught fire while she was lighting a pipe. The Chicago Journal proposes the following ticket: For president, Baby McKee: for vice president, Miss - Cleveland. An unknown Scandinavian was found dead in tne street at Republic, Mich. He had been shot in the back, and the coroner is investigating A party has left Black Foot, Idaho, to exhume the remains of Robert Ray Hamilton in order to ascertain whether he was drowned or murdered. The wrecking of the Ulster County Savings institution, at Kingston, N. Y., has caused a run on all the savings banks in that and surrounding villages. A bomb with a lighted fuse was found in the bishop's palace at Trieste, Austria. It was discovered by a servant and the fuse removed before it exploded. Governor Fifer has appointed Jonathan C. Willis, of Metropolis, Massac county, as railroad and warehouse commissioner, in place of Jno. R. Tanner resigned. The editor of Der Herold, the leading German daily of Wisconsin, throws cold water on the recently inaugurated "German Day," and says that Fourth of July is good enough for American citizens. Captain Eli Foster, a veteran of the Mexican and civil wars and one of the famous thirteen who dug the now historic tunnel at Libby prison, died Sunday morning at his home in Chicago, aged 64. Prince Albert Victor, eldest son of the Prince of Wales, is said to be mixed up very much in the scandal caused by the suicide of a beautiful Gaiety girl named Lydia Miller, and an accommodating London coroner is suppressing the evidence in the case. A crowd of roughs prevented George Francis Train from speaking at the Grand Opera house New York, whereupon, the erratic orator, justly indignant at such conduct in "the land of the free," etc., declared he would never speak in public again, closing with the forcible, if inelegant, expression, "D-n the American people, anyhow."

13. October 8, 1891 The Prison Mirror Stillwater, MN
Article from The Prison Mirror, October 8, 1891

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NEWS OF A WEEK. September 30. Dr. C. B. Jordan, an old Minnesota pioneer, diesat Anoka. (The Thirty-seventh annual session of the Minnesota Methodist conference begins at Red Wing. Gen. Boulanger, of France, commits suicide by shooting at the tomb of his late mistress in Brussels. Three persons lose their lives in a collision on the New York, Pennsylvania & Ohio railroad near Kent, Ohio. The schooner Frank Perew. of Cleveland, Ohio, sinks in Lake Michigan with seven. persons on board, only one of whom is rescued. The cruiser San Francisco, on her way home from Chili, is ordered to return to Valparaiso to await the settlement of affairs between that country and this. October 1. The public debt decreased over $15,000,000 in September. At Red Lodge, Mont., snow falls to the depth of three feet on the level. Ten thousand coal miners and 1,000 job printers go out on a strike at Pittsburg, Pa. An important meeting of the Irish National Land League of America begun in Chicago. Nine negro cotton pickers are lynched in Lee county, Arkansas. They belonged to a party of strikers. All through passenger trains between Vancouver and Montreal, on the Canadian Pacific, are to run through St. Paul. Dynamiters make an attempt upon the life of the emperor of Austria by blowing up a railroad bridge just before his train arrived at it. October. 2. Jay Gould is in a very critical state of health. A. B. Turner & Bro., Boston bankers, fail for $350.000. Six boxes of dynamite explode in Butte, Mont., wrecking. more or less, over fifty houses. The governor refuses to commute the death sentence of Rose, the Redwood Falls murderer. William Eisenbrand, a wealthy retired merchant of Red Wing, is killed by the accidental discharge of his gun. An immense audience listen to Mr. Gladstone's address at Newcastle. Eng. At a meeting of the Liberal Federation a resolution favoring the abolition of the House of Lords was adopted. October 3. Heavy snowfall in South Dakota. The steamer Winslow is burned at Duluth. A daughter is born to ex-President Cleveland and wife. A child is born at Oregon City, Or., with four arms, four legs and four ears. The Boston clubs win the pennants in both the American Association and the National League. At Pottsville, Pa., seven men are entombed by an explosion in a coal mine. One has been taken out dead. Treasurer Ostrander and Matthew T. Trumpbour, assistant treasurer, rob the Ulster County Savings Bank of Kingston, N. Y., of half a million dollars. They are in jail. October 4. Mrs. Frank Leslie marries W. C.K. Wilde, brother of Oscar Wilde. In Chicago a boiler explodes aboard the tug C. W. Parker and kills eight persons. At East Grand Forks, Minn., Justice of the Peace Robert Woods is murdered by unknown parties. Nearly two hundred men, women and children are massacred in Tulamengo, Mexico, the result of an Indian outbreak. October 5. Fort Bennett, South Dakota. is abandoned as a military post: Dr. Briggs' trial for hersey begins before the New York presbytery. The Mille Lac Indians will be removed from the White Earth reservation. By a runaway at a funeral at Altoona, Iowa, one man is killed, four persons are fatally and many others slightly injured. The Standard Oil company and English capitalists are buying up all the rice mills of the South and will throw them into a trust. Indian Commissioner Morgan's annual report is out in which he recommends several important changes in the treatment of the Indians. October 6. A Chinaman is naturalized in St. Paul. Karl I., King of Wurtemberg, dies after a long illness. People are dying by thousands in the famine stricken districts of Russia. William Henry Smith, conservative leader in the British house of commons, is dead. Thomas Edison has invented a system by which street cars may be propelled by underground electric wires. An Indian is sentenced to be hanged in the Northwest Territory for the murder of a Chinaman twenty years ago. It ssaid that General Land Commissioner Carter will be appointed secretary of the interior to succeed Secretary Noble. The report of the murder of four American miners at Cajamarquilla, Peru, is incorrect. An attack was made on them by Indians, but all the miners escaped with the loss of their property. Diligence is the mother of good luck, and success is the grandchild.-Texas Siftings.

14. October 9, 1891 Iowa County Democrat Mineral Point, WI
Article from Iowa County Democrat, October 9, 1891

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LATEST TELEGRAMS. NEWS IN BRIE THE Itata sailed for Valparaiso from San Diego Sunday. THREE and a half million dollars in gold arrived in New York Monday. A DAUGHTER was born to Mrs. Grover Cleveland Saturday morning. THE Minnesota Supreme Court has decided that dealing in grain futures is illegal. GENERAL ALPHEUS BAKER, a General of Confederate armies, died in Louisville Friday. GENERAL PATRICK KIRBY died suddenly at his residence in New York Monday morning. MRS. FRANK LESLIE was married to W. K. C. Wilde, brother of the famous Oscar, in New York city Sunday night. THE wrecking of the Ulster county Savings' Institution at Kingston, N. Y., has caused a run on all the saving banks in that and surrounding villages. THE four hundred striking miners of the Home and Riverside mines near Leavenworth, Kan, have gone back to work. STOCKS of wheat stored in private elevators of Minneapolis are computed to reach 500,000 bushels. DULUTH physicians are puzzled over the case of a man who has been asleep for a week. Ex SENATOR NORWOOD, of Georgia, makes public a plan which he thinks will cure all financial ills. THE steamship Ems, which arrived at New York Tuesday, has on board $1,259,000 in gold coin. THE French government is reported to hav' purchased large quantities of grain and meats in this country. THE resignation of W. W. Cook as surgeon of the Third Infantry, I. N. G., has been accepted by Adjutant General Reece. GOVERNMENT officials estimate the sugar crop of Kansas, Nebraska, Utah and California this year at 37,000,000 pounds. THE Teutonic has broken the record for the fastest east bound trip across the At lantic. Her time was 5 days, 21 hours and 22 minutes. An endowment association known as the Golden Grail has been placed in the hands of a receiver by the superior court of Boston. SETTLERS in the Calispel Valley, Idaho, are alarmed at the menacing attitude of the Indians and have asked for troops to protect them. COL. W. C. P. BRECKINRIDGE, Senator Blackburn and Hon John. W. Yoakes have accepted invitations to address the National Association of Editors and Publishers at Cincinnati, Oct. 22. THE La Bourgoine, which arrived at New York Tuesday, brought with her $1,770,000 in gold from Paris, making $4,020,000 gold received and $7,255,000 known to be on the way to this country. On Fulto due

15. October 10, 1891 The Cape Girardeau Democrat Cape Girardeau, MO
Article from The Cape Girardeau Democrat, October 10, 1891

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THE EAST. THE National Civil Service Reform League at the convention at Buffalo, N. Y., reelected George William Curtis as president. Two MASKED men robbed an American express car between Little Falls and Utica, N. Y., of $25,000. A package containing $5,000 was overlooked. THE Houtzdale (Pa.) First national bank suspended payment on account of the embezzlement of $45,000 by the teller. THE death of Maj. William McKee Dunn. who was Gen. Grant's personal aid de camp during the war, occurred at Cushings Island, Me. IN the Pittsburgh district 10,000 railroad coal miners struck for increased wages. NEAR Avon, N.J., Andrew Quinlin, aged 80, and the oldest railway conductor in the United States, was killed by a train. THE woolen mills of the Harper Manufacturing Company at Oxford, Me., were burned, causing a loss of $100,000. PRICES in the Connecticut tobacco market have advanced from three to eight cents per pound. THE firm of Turner & Bro., Boston bankers, failed for $300,000. IT was discovered that the Ulster county savings institution at Kingston. N. Y., had been robbed by its treasurer and assistant treasurer of $463,000. IN New York a daughter was born to Mrs. Grover Cleveland. THE marriage of Mrs. Frank Leslie, the well-known publisher of New York, and Mr. William C. K. Wilde of London, Eng., took place in the former city. THE death of Jacob Turney, ex-congressman from the Twenty-first Pennsylvania district. occurred at his home in Greensburg. aged 66 years. IN the Richardson colliery at Glen Carbon, Pa., an explosion of gas killed twelve men.

16. October 11, 1891 New-York Tribune New York, NY
Article from New-York Tribune, October 11, 1891

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THE ULSTER COUNTY SAVINGS BANK. NICEOLAS E. BROADHEAD CONFIRMED AS RECEIVER-THE JUDGE OVERRULES THE OPPOSITION. Kingston, N. Y., Oct. 10 (Special).-The opposition to Nicholas E. Broadhead as receiver of the Ulster County Savings Bank came up on an order to show cause why his appointment should not be vacated or set aside before Justice Fursman here to-day. The motion is in behalf of Mary J. Proper, a depositor in the broken bank. The grounds of the opposition to Broadhead were his previous connection with the bank management, he having been trustec and vice-president for over two years and lately treasurer; also that the Attorney-General was enjoined from obtaining the order without notice to the plaintiff. Counsel urged that Broadhead, having found a defalcation of $75,000, joined in signing a statement to the effect that the bank was sound and solvent relying upon the representation of the prisener Trumpbour. Judge Fursman, after explaining the circumstnces of his appointment, intimated that unless some better reason for his removal was presented be should adhere to the selection. After argument by counsel the court denied the request for postponement and confirmed the appointment of Broadhead, as no reproach had been cast upon him and he could not stamp him as dishonest or incompetent upon mere conjecture. Frederick L. Westbrook has been retained as counsel for the prisoner Ostrander and David M. Dewitt for Trumpbour.

17. October 24, 1891 Evening Star Washington, DC
Article from Evening Star, October 24, 1891

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THE FAILURES AT KINGSTON. Bank Superintendent Preston on the Ulster County Savings Institution. KINGSTON, N. Y., Oct. 24.-Superintendent of Banking Charles M. Preston has issued a statement regarding the Ulster County Savings Institution. The plan proposed is to induce depositors to leave their money for two years without interest and at the end of that time to get it in full, while those who draw out their deposits will have them scaled down 5 per cent. Superintendent Preston's statement is as follows: To the Trustees and Depositors of the Ulster County Savings Institution and Citizens: The examination of the Ulster County Savings Institution is nearly completed and it has reached the point which justifies me in taking the earliest opportunity to address you. The liabilities of the bank have been ascerfained from the ledgers and there remains still the comparison of the individual pass books with the depositors' ledger balances before we can say with absolute certainty what the liabilities are. While the examiners are making these comparisons as the pass books are presented they are also engaged in examining assets of the bank. & work which we expect will be completed in two or three days. There is very little reason to expect that the result thus far obtained will be materially changed when the examination is made complete. While the deficiency is larger than the amount first reported in the newspapers. nevertheless I am confident, from the examination thus far made, that with the co-operation of the depositors and citizens the bank can resume the transaction of business within the next few days. I think I may say with reasonable certainty that the present assets of the bank are capable of paying at least 85 per cent on the deposits, provided the bank can have a reasonable time in which to bring it about, and that ultimately the present depositors may be paid in full. This estimate is made with due allowance for the shrinkage of any of the assets. If the suggestions meet with favor I will submit, at the time the report of the examination is published, the details of a plan of resumption, which, if approved by the court, will avoid the necessity of a long, tedious and expensive receivership, and which will enable the depositors who desire to do so to demand a certain percentage of their deposits upon the opening of the bank for business.

18. November 5, 1891 The Stark County Democrat Canton, OH
Article from The Stark County Democrat, November 5, 1891

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Receiver Broadhead's Mind Affected. KINGSTON, N. Y., Nov. 4.-It is rumored that the mind of Receiver Broadhead, of the Ulster County Savings institution, has been affected by worrying over the failure of the bank and the fact that he intentionally misled some of his friends in regard to the soundness of the institution. He is out of town, and his friends say that he has overtaxed himself and is taking a rest.

19. November 10, 1891 Evening Journal Wilmington, DE
Article from Evening Journal, November 10, 1891

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DARK DAYS FOR BANKERS Supt. Preston Hopeful About the Ulster County's Crash. HE WANTS THE BANK TO RESUME A Plan Buggested Whereby the Depositors May in Time Be Paid in Full-The Defaulters Got Away with Over $581,000-The Big Run in Berlin. KINGSTON, N. Y., Nov. 10.-State Superintendent of Banks Preston has just submitted for publication a report to the trustees and depositors of the Ulster County Savings institution and citizens of this community, showing the condition of the bank on Nov. 1, 1891. The assets are $2,108,547.39; liabilities due depositors, $2,474,465.89; deficiency, $865,918.50. Superintendent Preston says: Superintendent Preston's Statement. "I have allowed such premium upon the bonds the bank holds as can be realized in the market, and in arriving at the value of the bondsand mortgages and real estate by calling in a number of the most conservative men of this community, who are acquainted with the properties. These assets are eapable of paying 85 per cent. of the deposits and leave a balance of $5,251,39. The Defaulters' Bonds. "There is in addition to the assets above stated the bond of James E. Ostrander of $25,000 and Matthew T. Trumpbour of $15,000, which I have not taken into consideration in the above liabilities. The amount actually due to depositors on the day the bank closed was $2,474,465.89, showing the total amount abstracted and misappropriated to be $581,331.37." There were mistakes in the pass books aggregating $500, most of which were against the bank. In conclusion the superintendent says: He Wants the Bank to Resume. "It will be seen that the assets are capaable of paying 85 per cent. of the deposits. The interest amounts to over $90,000 per year. "In view of this condition I would respectfully suggest that the bank could resume by procuring an order from the court permitting it to transact its ordinary business as a savings bank upon the condition that 15 per cent. of the aggregate deposits standing to the credit of each depositor on Oct. 3, 1891, be charged to every such depositor and accredited to the bank, and that no portion of this percentage be payable to any depositor until the further order of the court; that 25 per cent. of the deposits be payable to each depositor on demand from the time that the bank resumes. This would enable each depositor to demand one-fourth of his deposit at once, and the court could be moved from time to time thereafter to pay such additional sums due depositors as the best interests of the bank would warrant, until the 85 per cent. should be paid in full. In this way the earnings would within a reasonable time pay the 85 per cent. and then the full amount of all the deposits." Superintendent Preston cites as a precedent the case of the Oswego City Savings bank, which finally paid depositors in full.

20. December 20, 1891 The Sun New York, NY
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Kingston's Plundered Bank Wants to Resume Business, TROY. Dec. 19.-Before Justice Fursman at noon to-day application was made for an order allowing the Ulster County Savings Institution of Kingston, which is now in the hands of à receiver. to resume business on a basis of 85 per cent. of the deposits. Judge Schoonmaker. who appeared for the trustees. said that the Attorney-General. Bank Superintendent Preston. the trustees, and nearly all the depositors of the bank that could be reached favored the plan. It is proposed to resume at a loss to depositors of 15 per cent. On the date of resumption 25 per cent. of all accounts will be paid, If depositors desire. The bank will give interest at 3% per cent. on all deposits remaining. Judge Schoonmaker said the indebtedness to depositors amounts to about $2,400,000, and the assets are nearly $2,100,000. The actual deficiency is $365,000. Justice Fursman said he would sign the order if he found that he had the power to take such action. Judge Schoonmaker pointed to the Oswego Bank case. where there was a resumption under similar circumstances. He also said that at least four bank superintendents had favored the plan. Justice Fursman said he would give his decision next week.

21. December 24, 1891 New-York Tribune New York, NY
Article from New-York Tribune, December 24, 1891

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THE ULSTER COUNTY BANK MAY RESUME. Troy, N. Y., Dec. 23.-Justice Fursman signed an order to-day allowing the Ulster County Savings Institution of Kingston to resume business. The order permits an increase in the number of trustees and limits the number to twenty-five. Fifteen per cent of the aggregate deposits is credited to the bank. The order also restrains the bank from paying out more than25 per cent of the deposits until further order of the court. The receiver will be discharged after bis accounts have been passed upon. William Shaw. of this city, has been appointed referee to pass upon the receiver's accounts. The order was made on the application of the trustees and was agreed to by the Attorney-General and the Superintendent of the Banking Department.

22. January 30, 1892 The Sun New York, NY
Article from The Sun, January 30, 1892

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The Ulster County Savings Institution May Resume. KINGSTON. Jan. 29.-Ap order was filed in the County Clerk's office to-day discharging the receiver of the Ulster County Savings Institution. . The trustees are in possession of the bank. but are restrained from paying more than twenty-five per cent. of the deposit to any depositor. They are at liberty to do this at any time they see flt. They are not compelled by the order to make any payments whatever. but are prohibited from paying more than that. The only thing that now prevents the bank from resuming is the fact that the work of writing up a new set of books is not yet completed. It is understood that as soon as this work is done the bank will resume.