National Bank of the Metropolis (Washington, DC)

View Charter #526 on SPMC View balance sheet

Episode Information

Episode UID
52600793
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
5260 national
Charter Number
526
Start Date
January 1, 1866*
Location
Washington, District of Columbia (38.895, -77.036)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d18eebcad2bff0d0

Response Measures

None

Description

Receivers appointed in early 1867; bank had earlier gone into liquidation/suspension in 1866.

Events (6)
1. October 5, 1864 Chartered
Source
historical_nic
2. January 1, 1866* Other
Newspaper Excerpt
went into voluntary liquidation three years ago ... bank has now no office known to the treasury (article commentary on liquidation and bond interest draws).
Source
newspapers
3. May 3, 1866 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank insolvent/failed condition disclosed leading to final suspension (known mismanagement/rotten condition and insolvency).
Newspaper Excerpt
final suspension of the bank on Thursday, the 3d of May instant
Source
newspapers
4. November 28, 1866 Voluntary Liquidation
Source
historical_nic
5. February 27, 1867 Other
Newspaper Excerpt
Order appointing Messrs. N. Wilson and Jno. F. Ennis receivers, with authority to sell the lease and furniture and other property belonging to the Kirkwood House.
Source
newspapers
6. January 1, 1869 Other
Newspaper Excerpt
Kennedy, receiver, vs. the National Bank of the Metropolis. The jury in this case found a verdict of $20,000 for the plaintiff
Source
newspapers

Newspaper Articles (13)
1. May 10, 1866 The Evansville Journal Evansville, IN
Article from The Evansville Journal, May 10, 1866

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Article Text

LATEST NEWS. Secretary Seward has gone to New York. Flour has advanced twenty-five cents per barrel in most of the principal cities. Several important mail contracts/have been let in the South. The President has pardoned another counterfeiter named Maffatt. It is proposed to unite the Boston and New York Tract Societies. It Is now believed that General Mann will be appointed Collector at Chicago. A number of nominations by the President to fill offices in Wisconsin were sent to the Senate on Tuesday. The United States Treasurer on Tuesday ordered the shipment of $45,000 in fractional currency to different banks, It is denied that there has been any general run made upon the National Banks at Washington. A negro charged with committing a rape on a white girl, was taken from the jail in Frankfort, Ky., and hung. Major General Howard addressed the Boston Tract Society, at their 52d anniversary, held in Irving Hall, on Tuesday. Gen. Rufus Ingalls has been ordered on an inspecting tour of military posts in the far West, reaching to California. Mrs. Jeff. Davis entertains fears that her husband will not live through the summer if kept in confinement. The death-warrant of Probst, the Deering butcher, has been transmitted to the Sheriff, at Philadelphia. The Secretary of the Treasury understands the President's proclamation as abrogating martial law in Virginia. The Military Commission, convened for the trial of Major Paulding, met on Tuesday and a few witnesses were examined, when the Court adjourned until yesterday. An order, it is said, will emanate in a few days discharging all volunteer officers in the service. Many of these belong to the regular army and will only be reduced to their regular rank. The Committee on the Provost Marshal's Bureau have resolved to keep their proceedings sécret. The affairs of that Bureau will be thoroughly examined. The fifteenth Jubilee Anniversary of the New York Sunday School Union, was held on Tuesday. Also, anniversaries were held by several other societies. A Washington correspondent ways that the President will certainly veto the bill admitting Colorado to the Union of States, on the ground of the unstable and floating character of its inhabitants, and from other reasons. The excitement occasioned in Washington, by the suspension of the Merchants' National Bank, has entirely subsided. An examination of its affairs has been going on for several days under the auspices of the Government. Secretary McCulloch returned from a short visit to Fortress Monroe, where he had a brief conversation with Jeff. Davis. The health of the arch traitor is not good. The Government has determined to hold the gold claimed by the Richmond banks, it having been clearly shown that the gold belonged to the Southern Confederacy. The Commissioner of Indian affairs is making arrangements for a grand Council of Indians to be held at Fort Laramie. E. B. Taylor, Superintendent at Omaha, telegraphsthat 20,000 Indians will attend. The Senate Committee on the present Telegraph System are considering the expediency of connecting it with the Postal System. The report of the Post Master General will be submitted to the Committee in a few days, before which time the Committee will not act. TheSenate Committee on Foreign Affairs have unanimously agreed to report in favor of Gen. Sickles as Minister to the Hague, but the General declines the appointment and desires to return to his present command. The Government of Chili has issued an official decree, declaring that neutral vessels that communicate with the Spanish fleet or furnish them with fuel, ammunition, provisions, &c., shall not be permitted totouchorlandimany portof1 the republic. We are glad to welcome among our exchanges, the Evansville (Ind.) Journal a true and able Union paper,

2. May 13, 1866 The New York Herald New York, NY
Article from The New York Herald, May 13, 1866

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Article Text

It is said to have been fully explained and well under- stood by the persons present at these interviews that un- less Bayne & Co. could secure from $150,000 to $250,000 without delay they must fail, and that this failure would involve the failure of the bank. The per- sons known to have been present at one or more of these interviews and consultations, and cognizant of the condition of the bank, were Mr. William L. Huyck, Mr. C. A. Sherman, president and cashier of said bank; Mr. C. W. Boleter, Jr., and Mr. Oscar King, directors; Mr. L. P. Bayne, of Bayne & Co., Baltimore; Mr. Huntington, cashier of the First National Bank; Mr. Frissel, assistant cashier of the National Bank of the Metropolis, and Lieutenant Colonel E. E. Paulding, pay- master, United States Army. After stating these facts to show how far the true con- dition of the bank was known on the 20th day of April, it remains for me to give a list of the depositors of the government and disbursing officer's and agent's funds from that date until the final suspension of the bank on Thursday, the 3d of May instant, and the amounts de- posited by them respectively :- May 1-Deposited by Brigadier General Rob- inson, to his own credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 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. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ., and under- views that un- to $250,000 this failure The per- at one or more and cognizant Mr. William L. and cashier of said Oscar King, Co., Baltimore; National Bank; Mr. National Bank of the E. Paulding, pay- After stating these facts to show how far the true con- dition of the bank was known on the 20th day of April, it remains for me to give a list of the depositors of the government and disbursing officer's and agent's funds from that date until the final suspension of the bank on Thursday, the 3d of May instant, and the amounts de- posited by them respectively :- May 1-Deposited by Brigadier General Rob- inson, to his own credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3. February 13, 1867 The National Republican Washington, DC
Article from The National Republican, February 13, 1867

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COURT IN EQUITY-Judge - Olin.-Stackpole vs. Stackpole. Order granting leave to amend petition. Jones vs. Stringfellow. Order to tenants to deliver possession to purchaser. National Bank of the Metropolis vs. Sprague. Order for notice of application for the appointment of a receiver and for an injunction. :

4. February 27, 1867 The National Republican Washington, DC
Article from The National Republican, February 27, 1867

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EQUITY COURT-Judge Olin.-Purdy - et al. vs. Surratt et. al. Order to trustee to pay over balance to administrator de bonus non, in Prince George county, Maryland. In no., Susan Glover. Order for writ de lunatico inquirendo. Mary J. Selly vs. Jas. W. Selly. Order to file amended petition. National Bank of the Metropolis vs. C. C. Sprague al. Order appointing Messrs. N. Wilson and Jno. F. Ennis receivers, with authority to sell the lease and furniture and other property belonging to the Kirkwood House.

5. February 27, 1867 Evening Star Washington, DC
Article from Evening Star, February 27, 1867

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NATIONAL BANK OF THE METROPOLIS AGT. C. C. SPEAGUE AND OTHERS-Yesterday, 1 Judge Ulia appointed Jonn F. Ennis and Na. thaniel Wilson receivers in this case, with autherity to take possession of the lease, furnitare, &c., of the Kirkwood House, on giving bond in the penal sum of $50,000.

6. March 15, 1867 Evening Star Washington, DC
Article from Evening Star, March 15, 1867

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THE KIRKWOOD House.-Yesterday afternoon the Kirwood House was closed, and the receivers recently appointed by the Equity Court in the case of the National Bank of the Metropolis agt. Sprague et al., (Messrs Ennis and Wilson,) left the building in charge of W W. Kirby until the day of the sale. The boarders were informed of the intention to close yesterday morning, and after dinner there was a hasty vacation. Sprague, it appears, while proprietor of the hotel, borrowed $65,000 from Mr. Hutchinson, President of the Bank. and subsequently sold the lease of the hotel and effects to Mr. H. H. Dudley Suit was brought against Sprague, Dudley, and others, and other creditors holding deeds of trust also came into Court asking relief. The Court appointed receivers as above, and they will now sell the lease and effects and turn the procee is into Court subject to the final decree. Mr. Dudley has taken an appeal from the decision of Judge Olin, and it is expected that the case will be heard by the Courtin General Term tomorrow.

7. December 20, 1868 Nashville Union and American Nashville, TN
Article from Nashville Union and American, December 20, 1868

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at a premium. It will be a first important step towards a resumption of specie payments by the government and by the pecple. Congress would be compelled to redeem or fund the greenbacks as fast as a legal medium of greater value could be supplied. The difficulties of trade, it is be. lieved, would be less than is generally anticipated. The banks would be most exercised. Such as could open* specie accounts, and issue notes upon a specie basis, would probably do so at once, and this would gradually drive the others to adjust their business and circulation to the same standard; but in all this the difficulty would not beserious. With each one handling money doing his part towards adjusting prices to values, the whole labor 80 divided will be scarcely felt, and all will be, in a short time, surprised that a remedy 80 efficacious in results should have been so long feared and delayed. Whatever the judgment of the the court as to the lega:-:ender law may be, the evil will not be of the onerous character feared." The Court of Appeals of Maryland has decided that where a contract is made to pay in gold, legal tenders will not discharge the legal obligations of the debtor in other words, he must pay in gold. The National Bank of the Metropolis, of Washington, D. C, went into voluntary liquidation three years ago, with $400,000 of United States bonds deposited with the United States Treasurer to secure the government deposits of over half a million of dollars. This bank has now no office known to the treasury, yet it draws, through some means, semi-annually, the gold interest upon these bonds, and upon $202,000 of bonds deposited to secure $130,000 circulation. This drain of over $50,000 in currency per annum from the United States treasury is likely to continue ad infinitum. The Comptroller asks for no legislation to stop this leak, nor does he allude to it in his report. One hundred and fifty thou sand dollars has thus been drawn from the government treasury since the suspension of the bank, and this while it owed the government over half & million of dollars. Mr. Hulburd asks for legislation to enable him to sell the bonds of a bank deposited to secure circulation after it closes its business, and pay over all but enough to redeem the outstanding circulation, but nothing is said about selling bonds to pay the government back its deposits when the bank is unable to respond to the calls of the United States Treasurer or other United States officer.

8. January 1, 1869 The National Republican Washington, DC
Article from The National Republican, January 1, 1869

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THE COURTS. CIRCUIT COURT-Chief Justice Cartter.-This court was occupied as follows yesterday: THE BANK CASE. Kennedy, receiver, vs. the National Bank of the Metropolis. The jury in this case found a verdict of $20,000 for the plaintiff, and thereupon the defendant moved for a new trial. Falconer vs. Hines. Judgment by default for $195 for rent due. Clark vs. Hell. Judgment by default for $134. United States vs. Pettibone. Case called and jury respited till Saturday, Rees & Milliard vs. National Bank of the Republic. Motion for new trial overruled. Adjourned. THE EQUITY AND THE CRIMINAL COURTS did not sit yesterday.

9. February 11, 1869 The National Republican Washington, DC
Article from The National Republican, February 11, 1869

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This court was occupied as follows yesterday: ATTORNEYS ADMITTED. On the motion of Mr. Davidge, Mr. McCarty, of New Jersey, and Mr. Tracey, of New Jersey, were admitted to practice at this bar. Clark VS. White & Hanly. Order made on plaintiff to employ new counsel. Cavis (use of McGill & Witherow) vs. Charlotte Nugent. Judgment on inquisition of a jury in case of judgment by default for $105. Kennedy, receiver, VS. National Bank of Metropolis. Motion to quash attachment sustained. Hiram Brower vs. Robert P. Todd. Judgment struck out as erroneous. Hutchinson & Merrill vs. William S. De Zeng. Motion for new trial overruled. Richmond and York River Railroad vs. National Bank of Metropolis. This is a case of very considere ble magnitude, involving over $100,000. The Messrs. Merrick and Bradley of this city, and Tracey, of New York, are for the plaintiff, and Messrs. Davidge and Wilson, of this city, and Tracey, of New Jersey, for the defence. A motion to suppress an ex parte deposition of Hutchinson, cashier of the bank, on account of a deficiency in the certificate of the officer taking the deposition, having been overruled, the case was adjourned until this morning. J. Catter & Co. vs. Malichi Yateley. Judgment for $252.50 for balarace on a merchandisc account. Adjourned.

10. February 4, 1874 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, February 4, 1874

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NEW YORK. Counterfeit Bank-Notes. NEW YORK, February 3.-Two-dollar counterfeit notes on the- First National, Ninth National, Marine National, National Shoc and Leather banks, and the National Bank of the State of New York, and the National Bank of Commerce, are in circulation. They are well executed and well calculated to deceive. Bank Suit. NEW YORK, February 3.-The State of Tennessee is plaintiff in a suit which is being tried before Judge Van Brunt to-day in the Supreme Court. The defendants are Fairbanks Brothers, stockholders and directors in the National Bank of the Metropolis, Washington; Mr. Hatch, the treasurer; and Mr. Davis, the attorney for the bank. The allegation is that in 1864 the firm, which became indebted to the National Bank of Memphis. Tenn., for $66,000, deposited bonds in the National Bank of the Metropolis as collateral security for the debt, and the bonds were sest to Davis by Judge Sherman, a Washington hawyer, accompanied by a letter. The Bank of the Metropolis went into liquidation in 186G, and the Memphis bank failed in 1867, and a receiver was appointed. The Attorney-General of the State of Tennessee applied to the Controller of Currency in Washington to have the debt collected for the Memphis bank, but he refused to take any steps in the matter, being influenced, it is alleged, by the representations of the defendants, who deny the indebtedness. The case is likely to occupy several days. Items. NEW YORK, February 3.-The cigarmakers who lately struck for an increase of wages have resumed work, their bosses effecting a compromise. The strike of clothhat and capmakers still continues. Some of the bosses have acceded to their demands, but they refuse to resume work till all the bosses do so. A further discrepancy has been found in the accounts of H. Gill on the tax account of Brooklyn. A warrant has been issued for Gill's arrest. but it is stated that he has left for parts unknown. William Adams has been sentenced to eight years in the penitentiary for robbing and stabbing Mr. Finch.

11. February 4, 1874 New-York Tribune New York, NY
Article from New-York Tribune, February 4, 1874

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THE COURTS. A TENNESSEE CLAIM. SUIT AGAINST THE DIRECTORS OF THE NATIONAL BANK OF THE METROPOLIS, WASHINGTON. A suit involving large issues has just been begun in the Special Term of the Supreme Court before Judge Van Brunt. The parties to the suit are the State of Tennessee, plaintiff, and Fairbanks Bros., (Theodore, Horace and Franklin) stockholders and directors in the National Bank of the Metropolis, Washington; Wm. B. Hatch, Treasurer, and Theodore M. Davis, Attorney of the Bank, and Lucius Chittendon, defendants. The complaint is that in 1866 a firm doing business in this city became indebted to the National Bank of Memphis, Tenn., in $66,000, for which they gave collaterals in the shape of bonds. These were forwarded to ex-Judge Sherman of Washington, who by direction of the Bank sent them to Mr. Davis, the Bank attorney, with a letter directing him to deposit the bonds in the National Bank of the Metropolis to the credit of the Memphis Bank. Two months later the Washington bank went into liquidation and the following year-1867--the Memphis Bank failed and a receiver was appointed. The Controller of the Currency was applied to in Washington in aid of the collection of the debt for the National Bank of Memphis, but he refused to do anything and there is an allegation that he was influenced through the representations of the defendants, who deny the indebtedness. The complaint further alleges that when the National Bank of the Metropolis went into liquidation Davis, by direction of the other defendants, collected the money on these collaterals and applied it towards the liquidation of the debt of the Washington bank, which owed $600,000 to the United States. In the answer of the defendants Davis admits that in 1866 the Washington Bank owed the Memphis Bank $66,000, and that collaterals were deposited to the credit of the latter in the National Bank of the Metropolis. He also admits the facts sworn to in the complaint in regard to the failure of both banks, but there is 8 denial that the debt of $66,000 existed then. Davis denies, also, that he himself ever received the collaterals as charged in the complaint, or that he applied any moneys of the Memphis Bank toward liquidating the debt of the Washington Bank. The answer by all the other defendants 18 a general denial. Alexander F. Weaver, the bookkeeper of the Washington Bank, was the first witness called yesterday, and he testified in reference to the financial condition of the bank at the time the cause of action arose. The various counsel employed in the case are Brownell and Althrop for the State of Tennessee: Dunning, Edsail & Hart, S. J. Storrs, and Grosven or J. Hubbard for the defendants.

12. February 10, 1874 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN
Article from Memphis Daily Appeal, February 10, 1874

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The Stockholders and Directors of the National Bank of the Metropolis, Washington. A suit involving large issues, says the New York Tribune of the fourth instant, has just been begun in the special term of the supreme court before Judge Van Brunt. The parties to the suit are the State of Tennessee, plaintiff, and Fairbank Bros. (Theo. Horace and Franklin), stockholders and directors in the National Bank of the Metropolis, Washington, William B. Hatch, treasurer, and Theodore M. Davis, attorney of the bank, and Lucius Chittendon, defendants. The complaint is, that in 1866 a firm doing business in this city became indebted to the National bank of Memphis, Tennessee, in sixty-six thousand dollars, for which they gave collaterals in the shape of bonds. They were forwarded to Ex-Judge Sherman, of Washington, who by direction of the bank sentthem to Mr. Davis, the bank attorney, with a letter directing him to deposit the bonds in the National Bank of the Metropolis to the credit of the Memphis bank. Two months later the Washington bank went into liquidation, and the following year, 1867, the Memphis bank failed and a receiver was appointed. The comptroller of currency was applied to in Washington in aid of the collection of the debt for the national bank of Memphis, but he refused to do anything, and there is an allegation that he was influenced through the representations of the defendants, who deny the indebtedness. The complaint further alleges that when the National Bank of the Metropolis went into liquidation Davis, by directions of the other defendants, collected the money on these collaterals and applied it toward the liquidation of the debt of the Washington bank, which owed $500,000 to the United States. In the answer of the defendants Davisadmits that in 1866 the Washington bank owed the Memphis bank $66,000, and that collaterals were deposited to the credit of the latter in the National Bank of the Metropolis. He also admits the facts sworn to in the complaint in regard to the failure of both banks, but there is a denial that the debt of $66,000 existed then. Davis denies, also, that he himself ever received the collaterals as charged in the complaint, or that he applied any moneys of the Memphis bank toward liquidating the debt of the Washington banks. 1 he answer by all the other defendants is a general denial. Alexander F. Weaver, the book-keeper of the Washington bank, was the first witness called yesterday, and he testified in reference to the financial condition of the bank at the time the cause of action arose. The various counsel employed in the case are Brownell and Althrop for the State of Tennessee; Dunning, Edsail & Hart, J. Storrs, and Grosvenor J. Hubbard for the defendants.

13. June 22, 1879 The Sun New York, NY
Article from The Sun, June 22, 1879

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XV. The bank struggled along for eighteen mouths after the robbery. and then failed. In the mean time Martin resigned, and Stevenson was elected President. The failure was announced Dec. 13, 1871. and Theodore M. Davis WAS appointed receiver. Davis formerly lived tn the West, but by political or other influence managed to securethe appointment of receiver of the National Bank of the Metropolis, at Washington, D. O. This bank failed in 1866. It was rotten to the core, and many persons suffered severely by its failure. The misdeeds of its officers have never been fully known, because the Treasury Department and a Republican majority in Congress prevented any inves-