Second National Bank (New York, NY)

Episode Information

Episode UID
6200973
Episode Type
Run Only
Bank Type
national
Bank ID
620 national
Charter Number
62
Start Date
January 1, 1881*
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
3b12c14a94dc8b63

Response Measures

Accommodated withdrawals, Capital injected

Description

Articles (1898) recount a 1881 crisis in which the president looted deposits and the owner covered losses.

Events (4)

1. August 13, 1863 Chartered
Source
historical_nic
2. January 1, 1881* Run
Cause
Bank Specific Adverse Info
Cause Details
President's son dissipated nearly $3,000,000 of deposits in Wall Street speculation; owner Amos R. Eno paid personal funds to cover the deficiency.
Measures
Amos R. Eno supplied large personal funds (millions) to make good deposits and save the bank.
Newspaper Excerpt
the sacrifice of toward four millions made by him to save the Second National Bank from ruin, by reason of the misconduct of his son, its President.
Source
newspapers
3. April 29, 1882 Chartered
Source
historical_nic
4. December 31, 1921 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (3)

Article from Daily Globe, September 8, 1881

Click image to open full size in new tab

Article Text

ALL AROUND THE GLOBE. The New York produce and cotton exchange, clearing house, and all banks will be closed to-day. The mayors of New York and Brooklyn have issued proclamations calling on all to close their places of business, and trade will be suspended in both cities. Robert Steep, of Manville, Kan., nine miles west of there, while crossing the railroad track in a wagon, was killed by railroad train No. 3. Alex. Grey, of Allegheny City, one of the wardens of the western penitentiary, received serious injuries on the Pennsylvania railroad, at Seaman Place, yesterday, dying several hours afterwards.


Article from The Sun, February 23, 1898

Click image to open full size in new tab

Article Text

# An Heroto Figure. The memory of Mr. Amos R. ENO, who died on Monday, is entitled to lasting honor because of the sacrifice of toward four millions made by him to save the Second National Bank from ruin, and its depositors from grievous loss, by reason of the misconduct of his son, its President. It was in 1881, at a time of financial panic, and if Mr. ENO had not promptly come to the rescue of the bank with so large a part of his great fortune the evil consequences of the disaster would have been widespread. It was a brave action, and the promptitude of Mr. ENO in performing it, under the impulse of both business and family pride, was characteristic of his decision of character. The blow came to him as from a bolt from a clear sky. The Second National Bank was apparently absolutely sound, and beyond possible disaster, when it was suddenly revealed to him that his son, its President, had dissipated its whole volume of assets in wild and gigantic Wall street speculations, of which the father had had no hint and no suspicion. The panic prevailing made it impossible for even Mr. ENO's great fortune to secure the millions required to make good the defalcation without sacrifice, but without delay and taking no account of difficulties he supplied the vast deficiency from his private means, thus earning the deep gratitude of every depositor in the Second National Bank and deserving the gratitude and the applause of the whole public. Mr. Eno was a man of marvellously quick perceptions, amounting to veritable genius, touching the operation and chances of business enterprises, but more especially concerning prospective landed values. His discernment in the selection of his many and great real estate investments was as clear as it was confident. He foresaw with the certainty of a strictly logical process the tendency of trade and population to centres where he bought landed property at prices often less than the rental which not many years afterward he was able to obtain from them. The estate left by Mr. ENO must be very great, probably greater than it has been estimated, but a far better legacy than that is the example of honor, integrity, courage and fidelity which he leaves behind him.


Article from The Saint Paul Globe, March 2, 1898

Click image to open full size in new tab

Article Text

There was a reminder of the financial disturbance that occurred in 1881, and for a time threatened a panic, in the death the other day, at the age of eighty-eight, of Amos R. Eno, in New York city. The news that his son had looted the deposits of the Second National bank, of which he was president, sent a shock through the commercial world. Nearly $3,000,000 of deposits had been flung by the younger Eno into the maelstrom of Wall street speculation and lost. The son went to Canada. The father, owing no other than a father's fealty to a son, and no other obligation to the depositors than the relation of sire to the son who had despoiled them, immediately announced that he would make good his son's defalcation, and, although the financial stress of the times compelled great sacrifices in realizing on his investments, he raised the money and met the demands dollar for dollar.