New Albany Banking Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: September 15, 1896
Location: New Albany, Indiana (38.286, -85.824)

Metadata

Model: gpt-5-mini
Short Digest: bd8e3308

Response Measures

None

Description

Article reports the failure of the New Albany Banking Company and a related criminal trial (embezzlement/forgery) of its ex-president; implies bank closed/failed and receiver/insolvency proceedings. No mention of a depositor run prior to suspension; assigns to suspension_closure (suspension leading to permanent closure/receivership).

Events (2)

1. September 15, 1896 Other

Newspaper Excerpt: the failure of the NewAlbany Banking Company was mentioned in connection with the trial of Dr. W. L. Breyfogle, of New-Albany, ex-president ... on charges of forgery and embezziement in connection with the failure of the NewAlbany Banking Company.
Source: newspapers

2. September 15, 1896 Receivership

Newspaper Excerpt: the failure of the NewAlbany Banking Company ... (trial discussed in the Sept. 15 dispatch).
Source: newspapers

Newspaper Articles (1)

1. September 16, 1896 New-York Tribune New York, NY

Article from New-York Tribune, September 16, 1896

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Article Text

TELEGRAPHIC NOTES. Chicago, Sept. 15.-A special from Hoopeston, III., says: The charred remains of four bodies were found yesterday in the wreckage of the burned train at Wellington. It is known that ten or twelve tramps were on the train, and as twenty-three cars were enveloped in flames simultaneously, it is thought none of them escaped. One body found Friday was identified by a railroad card in his pocket as A. D. Henton, of Salina Lodge No. 5, Slater, Mo. Vincennes, Ind., Sept. 15.-A special from Freelandsville, in Knox County, says that almost the entire business portion of that town was destroyed by fire this morning. Besides the business houses, several residences were burned, leaving many families homeless. The origin of the fire is unknown. Wabash, Ind., Sept. 15.-G. B. Swetzer, receiver of the Chicago, Indiana and Eastern Railroad, has stopped all trains and indefinitely suspended the operation of the road, which has been running at a loss. He has asked for a court order to sell the rolling stock and pay pressing claims. Jeffersonville, Ind., Sept. 15.-The trial of Dr. W. L. Breyfogle, of New-Albany, ex-president of the Monon Road, on charges of forgery and embezziement in connection with the failure of the NewAlbany Banking Company, resulted to-day in a verdict of acquittal. Several other indictments were continued. Milwaukee, Wis., Sept. 15.-"Gus," a carriage washer, and "Hill," a cook (last names unknown), are lying in a critical condition at the Emergency Hospital as the result of a fire in the livery stable of Breitkrentz & Manger, in Milwaukee-st., early this morning. Twenty horses were suffocated. The firemen had difficulty to prevent the spread of the flames. The loss will be about $5,000; insurance $2,000. Chicago, Sept. 15.-J. B. Northam & Co., wholesale and retail Hquor-dealers, confessed judgment today in favor of the Atlas National Bank for $25,000. An execution was issued and the sheriff took possession of the concern's places of business. No statement has yet been made, but the Habilities are supposed to be about $125,000 to $150,000. with assets at least 20 per cent more. The failure was a great surprise.