Bank of the Commonwealth

Episode Information

Episode UID: 574533191265
Episode Type: Suspension → Closure
Bank Type: state
Bank ID: 57453319 hash
Start Date: May 31, 1905
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 233cabde34ce7b27

Response Measures

None

Description

Article states the bank closed its doors and assets were turned over to an individual; closure appears to follow state action.

Events (2)

1. May 31, 1905 Suspension

Cause: Government Action
Cause Details: State Superintendent of Banks is credited with shutting up the bank leading to closure
Newspaper Excerpt: Bank of the Commonwealth, of Brooklyn, which closed its doors yesterday after an existence of only two months
Source: newspapers

2. June 1, 1905 Other

Newspaper Excerpt: all the assets and securities have been turned over to Edward H. M. Roehr
Source: newspapers

Newspaper Articles (1)

1. June 1, 1905 New-York Tribune New York, NY

Article from New-York Tribune, June 1, 1905

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Article Text

SAYS BANK WAS LEGAL. Officer of Commonwealth Concern Replies to Charge. An officer of the Bank of the Commonwealth, of Brooklyn, which closed its doors yesterday after an existence of only two months, said, in reply to a query concerning the published statement that the directors had cause to be thankful to Mr. Kllburn, the State Superintendent of Banks, for shutting up the bank, and that if it had been allowed to run three days longer all the directors would have been on their way to State's prison, that certain forms have to be complied with before a bank can go out of business, and that they had been permitted to close was sufficient evidence that they had complied with the law. The most serious charge by the directors of the bank is that the promoters used $8,000 to pay four members of the State Senate Committee on Banks for their influence in "smoothing the way" for a charter. President E. F. Howell of the bank is authority for the statement that the stock, which was subscribed for at $110, to provide a surplus of $10,000, will be cancelled at $103. Another officer of the bank declares that all the assets and securities have been turned over to Edward H. M. Roehr, who is now sick at his summer home, No. 197 Fernwood-ave., Upper Montclair, N. J.