Atlantic Bank (New York, NY)

Episode Information

Episode UID
7662251690880
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
766225169 hash
Start Date
April 26, 1873
Location
New York, New York (40.714, -74.006)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
3f8ba688963d978d

Response Measures

None

Description

The bank was a national institution (Atlantic National Bank) that failed in April 1873 due to cashier embezzlement; it should not be confused with the Atlantic Bank of Brooklyn mentioned in 1872 articles as converting to a state bank.

Events (4)
1. April 26, 1873 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Cashier F. L. Taintor embezzled approximately $400,000-$600,000 for stock gambling.
Newspaper Excerpt
on Saturday last, finding he was short to the figure of some four hundred thousand dollars... he sought out Mr. Tappen... and acknowledged himself a defaulter... the consequences of the explosion will be amply ventilated on 'Change to-day.
Source
newspapers
2. April 28, 1873 Other
Newspaper Excerpt
the doors were closed and the bank in possession of United States Examiner Meigs, who in connection with its officials are investigating its affairs.
Source
newspapers
3. April 28, 1873 Receivership
Newspaper Excerpt
Charles E. Strong was to-day appointed receiver of the Atlantic National Bank.
Source
newspapers
4. April 29, 1873 Other
Newspaper Excerpt
Excitement continues around the broken Atlantic Bank and crowds of depositors still linger about the doors who denounce the directors
Source
newspapers

Newspaper Articles (22)
1. July 17, 1872 Worcester Daily Spy Worcester, MA
Article from Worcester Daily Spy, July 17, 1872

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New York. THE COURTS. NEW YORK, July 16.-The grand jury prcsented in the general sessions to-day, an indictment against Robert L. Crawford, brother-inlaw of Commodore Vanderbilt, for an assault with intent to kill Detective William Henderson. FINANCIAL. The estimated shipment of specie to-morrow is $2,000,000. The receiver of the Guardian savings bank announces the next dividend of twenty-five per cent, to be paid the 10th of August. The Atlantlc bank of Brooklyn will be wound up as a national institution, and resume business as a state bank. GRATZ BROWN RECOVERING. The health of Governor Brown continues to improve, and there is little doubt that he will resume active operations in the campa in this week. THE STRIKES. The threatened strike of press printers has been averted, the employers all granting twenty per cent increased wages. A few clothing cutters and cabinet makers struck to-day for eight hours. METHODISTICAL. Bishop Simpson has indicated his intention to appoint Dr. Lanahan to the vacant presiding eldership of the Washington district in the Baltimore conference of the Methodist Episcopal church. MISCELLANEOUS. Five hundred furniture workmen struck yesterday, their employers demanding that they should resume the ten hour system. Henry Rodgers has been identified as the murderer of officer Donahue of Brooklyn, and the coroner's jury has found some eight other roughs guilty of being accessories. They are all under arrest. A party of ladies and gentlemen, while bathing at Coney Island, yesterday, were robbed of nearly $8,000 worth of jewelry, money and bonds. At a meeting of the employers' executive committee yesterday, it was stated that many of the printing firms have partly conceded to the demands of the striking pressmen. About one hundred thousand dollars were paid out yesterday on the 31 per cent. dividend on about one-third of the preferred stock of Erie. Much gratification is expressed by the holders in finally seeing a dividend. An illicit distillery, with two thousand gallons of mash, was seized to-day in Front street. The Schutzentest, at Union Hill, Jersey, is progressing finely. Among those present are delegations from Boston, New Haven and Hartford.

2. July 17, 1872 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, July 17, 1872

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NEW YORK CITY. NEW YORK, July 16.-It is believed the District Attorney, with whom the matter in such cases rests, will refuse to allow Stokes to be bailed, also that the next trial will be had in some other county, probably Saratoga. The Grand Jury presented in general session to-day an indictment against Robert L. Crawford, a brother-in-law of Vanderbilt, for assaulting with intent to kill detective Wm. Henderson. The shipments of specie to-morrow is estimated at $2,000,000. The Receiver of the Guardian Savings Bank announces a net dividend of 25 per cent to be paid on the 10th of August. The health of Gov. Brown continues to improve, and there is little doubt he will resume active operations in the campaign this week. A threatened strike of the press printers has been avoided by the employers all granting 25 per cent increase on their wages. A few clothing cutters and cabinet makers struck to-day for 8 hours. Bishop Simpson has indicated his intention to appoint Dr. Lanahan to the vacant presiding Eldership of Washington district, Baltimore Conference of the M. E. Church. The Atlantic Bank, of Brooklyn, is to be wound up as a national institution, and will resume business as a State bank. An illicit distillery, with two hundred tons of mash, was seized to-day on Front street, Brooklyn.

3. July 17, 1872 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, July 17, 1872

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News From New York. New York, 16. The grand jury presented in general session today an indictment against R. L. Crawford, brother-in-law of Commodore Vanderbilt, for an assault with intent to kill detective Henderson. The receiver of the Guardian Savings Bank announces that the next dividend of 25 per cent. will be paid the 10th of August. The threatened strike of the press printers has been adverted, the employers all granting 20 per cent. increase of wages. An illicit distillery with 2000 gallons of mash was seized to-day in Frout street. The Schutzenfest at Union Hill, Jersey, is progressing finely. Among those present are delegations from Boston, New Haven and Hartford. The health of Governor Brown continues to improve, and there is little doubt he will resume active operations in the campaign this week. The Atlantic Bank of Brooklyn will be wound up as a national institution and resume business as 8 State bank.

4. July 17, 1872 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, July 17, 1872

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MINOR TELEGRAMIS. A party of ladies and gentlemen while bathing at Coney Island, Monday, were robbed of nearly $8000 worth of jewelry, money and bonds. The opera house and post-office building in Sedalia, Missouri, were burned Monday. Loss $40,000; insurance $20,000. Monthly petroleum reports at Titusville shows the daily production for June of 17,449 barrels. The decrease as compared with May is 595 barrels per day. The decrease of stock in oil regions for the month, 20,073 barrels. The President is expected to return to Washington this week. Lieut. Commander Leary is detached from the Canandaigua and placed on waiting orders. J. M. Orr, Chairman of the Territorial Liberal Committee of Utah, has issued a call for a territorial convention on the 25th inst., at Corinne to nominate a candidate for delegate to Congress against George Q. Cannon, a Mormon. The remains of Judge McCunn of New York, are to be taken to Ireland, according to a request in his will. A fire Monday night in Cincinnati, destroyed the cigar factory of J. S. Miller. Loss $8000; partially insured. The shoe house of Monsaul & Co., adjoining suffered damage to the stock by water and smoke of $10,000; fully insured. William P. Drew of Maine, late Chief of the Claims and County Division of the Freedmen's Bureau, has been commissioned as National Bank examiner, and assigned to duty in New Jersey and Eastern Pennsylvania, in place of Mr. L. Hulburd, resigned. The directors of the Wilton Manufacturing Company at East Wilton, N. H., whose mills were destroyed by fire on the 6th of March, have discovered that the Treasurer, Hiram A. Danniels, is a defaulter to the sum of upwards of $40,000. The Massachusetts press association of editors and publishers, started on their annual excursion Tuesday. They make the mountain region of New Hampshire the objective point. C. Corer, U.S. Consul at the Azores, died on board the barque Fredonia, July 4th. He was on the passage home. He belonged in Lancaster, Mass. The health of Gov. Brown continues to improve and there is little doubt he will resume active operations in the campaign this week. The threatened strike of the press printers in New York has been averted, the employers all granting 20 per cent. increase of wages. Bishop Simpson has indicated his intention to appoint Dr. Lanahan to the vacant presiding eldership of Washington District, Baltimore Conference of the Methodist Episcopal church. The Atlantic Bank of Brooklyn will be wound up as a National institute and resume business as a State Bank. A rain cloud burst on the Honesdale branch of the Erie railroad, Monday evening, washing away the road-bed for 100 feet. It will take several days to repair the damage. The first bale of new cotton was sold Tuesday at Galveston, Texas, for 93 cents per pound in gold.

5. July 17, 1872 New-York Tribune New York, NY
Article from New-York Tribune, July 17, 1872

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BROOKLYN. Prospect Park visitors last week 196,566. Five persons were bitten, yesterday, by dogs. Twelve liquor-dealers were arrested, yesterday, for violations of the Excise law, The Atlantic Bank will be closed as a national bank, and reopened under the State law. The rain storm of Monday night flooded many basements in the 5th Ward, broke open a sewer and washed away the pavement in Tillery-st. The Committee of Fifty has asked the Commissioners of Public Works that an accountant be allowed to examine the books of the late Water Board. Mayor Powell signed, yesterday, certificates of indebtedness for arrears of taxes, to the amount of $100,000; of which $50,000 is payable in July, 1874, and $50,000 in July, 1875. Judge Tappen rendered a decision, yesterday, declaring James H. McKinny the legally -elected Collector of Flatbush. The coutestant was Peter L. Williamson, who claimed to have received a majority of votes. The corporations owning the largest amount of property are the Brooklyn City Railroad Company, $956,000; the Brooklyn Gas Company, $976,000; the City Gas Company, $609,000; E. D. Gas Company, $512,000, and the First National Bank, $480,000. Thomas Cornwell was awarded, yesterday, the contract to furnish the Penitentiary with 225 tuns of Lehigh coal, at $0 per tun, and the Court-house with 350 tuns, at $5 34 per tun. Joseph Tierney was awarded the contract to supply the Jail with 250 tuns of coal, at $4 75 per tun. The United States steamer Tallapoosa, Lieut.Commander McRitchie, arrived at the Navy-Yard, yesterday morning, from Boston and Booth's Bay, with Rear-Admiral Joseph Smith, and Rear-Admiral A. Smith and wife on board. The Tallapoosa will take on board 200 men from the receiving ship Vermont at the NavyYard, and convey them to Philadelphia for duty on the United States steamer Omaha, now fitting for sea. The Tallapoosa will then proceed to Washington. Commodore A. L. Case, Chief of the Bureau of Ordnance at Washington, visited the Navy-Yard yesterday, and received a salute of 13 guns. LONG ISLAND. HEMPSTEAD.-The Queens County Board of Supervisors will meet to debate the Court-house question, Saturday A special election will be held on the 20th inst., to decide whether $1,230 shall be appropriated for the erection of an engine-house, $400 for the purchase of hose, and $150 for a hose-carriage. FAR ROCKAWAY.-The Long Island Railroad Company is extending its branch to the beach, and will have trains running next Sunday. NEW-JERSEY. JERSEY CITY.-A woman residing in Communipaw-ave. was run over and seriously injured on the Newark and New-York Railroad yesterday Patrick Bradley, age 19, of No. 262 Railroad-ave., was struck by a locomotive on the New-Jersey Railroad at Bergen cut yesterday, and was instantly killed The Board of Police Commissioners, whose offices have been declared forfeited by the Attorney-General, met as usual last night, and transacted the regular business. Officer Jonathan Baldwin was dismissed for speaking disrespectfully of the Commissioners. HOBOKEN.--A verdiet in favor of the piaintiff was rendered yesterday, in the ejectment suit brought by Bernard McClosky against A. O. Evans, editor of The Hudson County Democrat, to obtain possession of the property on which The Democrat office is located. NEWARK.-The Germania Society elected, yesterday, the following officers for the ensuing year: President, H.

6. April 28, 1873 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, April 28, 1873

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The Atlantic Bank Failure. NEW YORK, April 28.4-If is thought Taintor, the defaulting Atlantic Bank cashier, who has wealthy and influential friends will be rcleased on bail to-day. He still maintains his wonderful effrontry and coolness of manner. It is now believed the depositors will recover all their money. NEW YORK, April 28.-A large crowd of depositors and others intérested, are collected around the Atlantio Bank this worning, but the doors were closed and the bank in possession of United States Examiner Meigs, who in connection with its officials are investigating its affairs. NEW YORK, April 28.-Charles E. Strong was to-day appointed receiver of the Atlantic National Bank. Taintor, the defaulting cashier, was brought before the United States Commissioner, but as be had no counsel no application for bail was made, and he was sent back to jail.

7. April 28, 1873 The New York Herald New York, NY
Article from The New York Herald, April 28, 1873

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The Atlantic Bank EmbezzlementSix Hundred Thousand Short. The facts which we published yesterday from the defaulting cashier and other officers of the collapsed Atlantic Bank form an alarming exposition of the management of that unfortunate establishment. Mr. F. L. Taintor, the cashier, had been for months dabbling in the stock gambling operations of all street, and, at length, on Saturday last, finding he was short to the figure of some four hundred thousand dollars, more or less, in his personal accounts with the bank, he sought out Mr. Tappen, Chairman of the Executive Committee of the Clearing House, and, as pleasantly as he would discuss the merits of an oyster stew, acknowledged himself a defaulter to the amount indicated. The scenes which followed at the bank and the consequences of the explosion will be amply ventilated "on 'Change" to-day. The condition of the suspended bank is reported to be as follows:-Realizable assets, $549,000; liabilities to depositors, $615,000; stolen securities from the bank, $162,000 (the actual value of which in market is $228,000); capital of bank, $300,000; surplus, $76,000, making an actual deficit of $604.000. This leads some to

8. April 29, 1873 Evening Star Washington, DC
Article from Evening Star, April 29, 1873

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Wall Street To-day. NEW YORK, April 28.-The Wall street markets are dull and depressed, developments in the Atlantic bank suspension, while not directly affecting the market, nevertheless creating an inneasy feeling. Gold has sold at 117 % to 116%, the present quotations being at 11618% Notwithstanding the decline of gold foreign exchange is heavy, with business doiug at at a concession of about Y on nominal rates for sterling, which remain 108% and 109% respectively. The money market, notwithstanding the receipts of currency from the interior, which for yesterday were reported by three express companies at nearly $3,000,000, is active.

9. April 29, 1873 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, April 29, 1873

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Taintor, the defaulting Cashier of the Atlantic Bank, appeared in court yesterday without counsel. As he offered no bail, he was sent back to Ludlow Street Jail to await his trial. The opinion grows in New York that his story is 'not to be believed, and that, instead of having lost the money in unfortunate stock speculations running for years, he has stolen it, and that within a few days. The bauk was examined in February and October, 1872, and nothing out of the way discovered further than that its capital was much impaired. It was forbidden to declare any dividends. It has been suspended from the Clearing-House Association and will be expelled.

10. April 30, 1873 The Wheeling Daily Register Wheeling, WV
Article from The Wheeling Daily Register, April 30, 1873

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NEW YORK. -The Defanct Atlantic Bank. New YORK, April 29 - -Exc tement continues around the broken Atlantic Bank and crowds of depositors still linger about the doors who denounce the directors as being as bad as the de. alting cashier. l'he receiver is making out a statement of the bank fairs and expects to have it ready to-morrow The Bakely Trial. After a recess to-dav a tenth juror was obtained in the Blakely trial and, the panel being exhaus ed the Court djourned until to-morrow. U. S District Attorney Bliss, presented the facts of the case. Receiver Strong continued to investigate into the affairs of the bank to-day, although few coroborating circum-tances have yet been developed leading Strong to think that no other officers of he bank are implicated in the frauds It is said suspicions of insolvency have been 00 record in the Treasury Department for at least a year past. In reply to a communication from Mr R 01, a stockholder hinting of a disposition among the stockholders to make up the deficit and pay the creditors in full Mr. Fuller. chairman of the depositors committee stated that the only compromise possible was a tull settlement 01 all claims

11. April 30, 1873 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, April 30, 1873

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A financial dispatch from New York yesterday says : "The Wall street markets are dull and depressed, the developments in the Atlantic Bank suspension, while not directly affecting the markets, nevertheless creating an uneasy feeling.

12. April 30, 1873 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, April 30, 1873

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FROM NEW YORK. New York, 29. Receiver Strong reports that to-day's examination shows the Atlantic Bank to be in be in better condition than was anticipated. Some of the stock supposed to have been hypothecated has been found in the security box, and it is believed that more will be discovered. The defaulting cashier, Taintor was indict ed to-day by the United States Grand Jury, which will supersede the examination set down for to- morrow befor Commissioner Osborn. The difficulty between Jay Gould and Marrin to-day is said to have arisen from an old Erie litigation. Marrin is reported to have been under the influence of liquor. A warrant has been issued for his arrest, and he will appear before Judge Dowling to-morrw.

13. May 1, 1873 Evening Star Washington, DC
Article from Evening Star, May 1, 1873

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New York Notes, TAINTOR'S TRICKS. NEW YORK, May 1.-The examination into the Atlantic bank affairs shows that Taintor loaned over $340,000 on securities which have disappeared. Among the loans are 890,000 to L. H. Niles, a broker. and 835,000 to an under clerk of Niles. Nearly all the loans were made within three months. There is a great discrepany in the accounts on the books and the statements of depositors. One of the directors over drew his account $6,000 the day before the failure of the bank. THE CRISPING' STRIKE. A visit to several representative shoe dealers does not confirm the representations of the Crispins now on a strike. Many dealers mentioned as having conceded to the termsdemanded say they only consented conditional on all their branches of the trade agreeing. The trade is now said to be very dull, and there will be no difficulty in obtaining substitutes for the strikers. THE INDIAN COMMISSIONERS in session here discredit the Toronto story of the massacre of Americans in the Blackfeet coun. try. They have a dispatch from the military station nearest the Blackfeet country, but no mention was made of a distarbance. THE WEATHER is fine: wind southwest. COOPERS' STRIKE. Some five hundred coopers will strike to-day in consequence of the importation of molasses barrels from Maine. ERIE. It is stated that arrangements are being perfeeted by which the Erie railway will have full control of the Boston, Hartford and Erie railroad. FAILURE. Otis D. Swan & Co. to-day notified the stock board of their suspension. TRIBUTES TO THE MEMORY OF JAMES BROOKS. All the papers contain tributes to the meinory of James Brooks. THERE WERE NINETEEN BIDS FOR GOLD to-day, amounting to $3,915,000, from 11676-100 to 117 27-100. The amount to be sold was $1,000,000, which went at 117 14-100 to 117 27-100. THE BROADWAY BANK to-day called in $1,200,000 on account of the pay ment of interest and maturing bonds of the city. THE STEAMSHIP WESTPHALIA took 867 000 in specie for Europe to-day. THE FAILURE OF SWAN & co involved only a light amount on the stock exchange.

14. May 1, 1873 Pioche Daily Record Pioche, NV
Article from Pioche Daily Record, May 1, 1873

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NEW YORK, April 29. Receiver strong reports to-day. The examination shows the Atlantic Bank to be in better condition than was anticipated. Some of the stock, supposed to have been hypothecated, has been found in the Security Company. It is believed more will be discovered. The Cashier, Tainter, was indicted to-day by the United States Grand Jury.

15. May 1, 1873 New-York Tribune New York, NY
Article from New-York Tribune, May 1, 1873

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WEDNESDAY, April 30-P. M. The favorable report of the Clearing-house Com- mittee on the matter of the Continental Bank, had some effect in restoring a confidence which had been waning by reason of the suspension of the Atlantic Bank, and so stocks were strong though inactive, and the highest prices were made at the 1 o'clock Board. Here things were moving along swimmingly when the Albany news on the Usury question came, which was made the occasion by the money cornerers for putting on the screws again, and as money became active and difficult there was also a corresponding desire to sell the leading shares, which broke down prices until at the close the lowest quotations were current, the market having experienced a decline of ¼ to 1½ per cent after the second board. The leading shares continue to be Western Union, St. Paul and Pacific Mail, with a pretty fair trade driven in Central and Lake Shore. The opening, highest, lowest, and closing prices of stocks were as follows:

16. May 2, 1873 New-York Tribune New York, NY
Article from New-York Tribune, May 2, 1873

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LOCAL MISCELLANY. ATLANTIC BANK CREDITORS. LIST OF ,THE PRINCIPAL DEPOSITORS-EXCITEMENT OVER THE TRIBUNE'S REVELATIONS YESTERDAY MORNING-MR. NILES AND RECEIVER STRONG RETICENT. The announcement made exclusively in THE TRIBUNE yesterday morning that Mr. Niles and his clerk, Mr. Conover, had been discovered to have received $125,000 of the Atlantic Bank funds, created great exeitement among the depositors; and when it was learned that the bank had no remedy against them unless it could return the securities deposited with Taintor and stolen by him. the hopes of depositors of recovering their money were greatly lessened. It was reported that one of the largest depositors and one of the first to declare that only cent for cent and the imprisonment of the directors as well as the cashier would satisfy him, had sold his claim against the bank for onethis of its value. Proof of this could not, however, be obtained; but it is generally believed that the small depositors are selling their claims at a heavy discount. A list of the depositors has been prepared, as announced yesterday. The Receiver, Mr. Strong, again refused the press a copy of this interesting document. He does not believe it is to the interest of the bank to publish it, and therefore retains possession of all copies of the document, and refuses to allow an inspection of the books. Indeed, he refuses, for the present, to admit any persons not connected with the bank officially, or coming with information to give rather than to ask. This list of depositors and the amounts to their credit, which the Receiver conceals with commendable zeal for the bank, is given below, for the benefit of depositors and the public generally. It may be relied upon as correct in every particular, though not complete. LIST OF DEPOSITORS AND AMOUNTS DUE THEM.

17. May 3, 1873 New-York Tribune New York, NY
Article from New-York Tribune, May 3, 1873

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The Receiver states that some of the assets of the bank are debts standing on the books which will require collection, and if they are not paid will of course reduce the amount. He says that no explanation has been received from Taintor's brokers as to their operations with the cashier and the bank. THE TRIBUNE published exclusively yesterday morning a full list of the larger depositors of the Atlantic Bank, although information was refused by the Rereiver. There were 99 of these to whom, and on certain certificates of deposit, there was due $487,916 90. Below will be found the names of 187 other depositors whose balances are less than $1,000 to whom the bank owes $45,519 93. The depositors are growing gradually less hopeful of securing a full return of the amounts due them, and some sales of claims are said to have been made yesterday at a discount. Messrs. Libby & Clark were alluded to yesterday as the largest losers among the individual depositors. On inquiry it was found that this amount was the smallest balance of four bank accounts which the firm keeps, and the concern is no way embarrassed by this unexpected locking up of their money. The following is the list of minor depositors as shown by the Receiver's examination of the books.

18. May 8, 1873 Wood County Reporter Wisconsin Rapids, WI
Article from Wood County Reporter, May 8, 1873

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I by Geo. Prouty, as a Barber Shop.Plover Times. -The Cineinnati Commercial says. "If O'Kelly doesn't culminate pretty soon, we shall order the printers to distribute his obituary` -Mrs. Florence Knox has been engaged to sing in Piymouth Church, Brooklyn,st a salary of $2,500 per annum. She is a Michigan lady. The Ogdensburgh Leader says : A train on the G. B. and L. P. passed through our village the other day, embracing twenty-one cars. How's that for high? -...William B. Astor has presented Trinity Church, New York, with two golden candlesticks each nine feet long, for "a light to shine upon the path, &c. -The Leader is in receipt of reports from La Crosse county stating that winter wheat is almost entirely killed out and that farmers have reseeded the ground to spring wheat. -The Democrat reports that no logs account come down of any have from above Neillsville. There are now between 25,000,000 and 30,000,000 in the boom above Onalaska. -The Rev. Dr. Thomas, who was one of the commissioners butchered by the Modoc Indians, it is stated, was a brother-in-law of Mr. J. C. Brainard, of the town of Elba, Columbia county. --The reputation of the Atlantic Bank of New York is badly attainted, by the embezzeiment of funds to the amount of $500,000 by its cashier, F.L. Tainter. The institution is irrevocably gone up. -Miss Nellie Grant will be eighteen years old on the 4th of July. Out of courtesy to the Democrats, she ought not to have been born on that day, but such being the fact the best thing they can do is not to celebrate it. ....The Black River Falls Banner, of Saturdy says "The logs are coming down right lively. It is thought 100, 000,000 feet will go down on the present raise, and perhaps more if the water keeps up a few days longer." _A new School Teacher, weighing only nine lbs., put in an appearance at the the house first of of this Mr. week. M. L. Alban, This is the a boy). first occurrence of the kind that has ever happened in his family. We wish our friend much joy.-Plover Times. -Dr. Mark Ranney of Providence. R. I. has been appointed Supt. of the Wis. Hospital of the Insane in place of Dr. A. S. McDill, resigned. The Dr. takes the position with the highest reccommodations, but could not Wisconsin furnish a Superintendent from among the many excellent practitioners within its limits? --The difficulty is now obviated of running over rocks Big Bull. lumber The the ragged of Boom, lately in at the below Messrs the Leahy, Falls Huntington expense put of and Cooper, and of which we made mention of in our last, is completed, and now the transmission is rendered comparatively safe and easy, over this heretofore destructive and dangerous point.-Central, (Wausan). -The little Ogdensburghers-so says the Leuder-are hooting people nights and disturbing evening meetings paying particular attention to the Lodge of Good Templars. Bro. Hopkins, don't let up on the youngsters. Any boy big enough to wear copper toed boots knows better than to bud and bloom into a rowdy. Incipient rowdyism is bane to a town's progressiveness -Amongthe lost on the wrecked steamer Atlantic was Prof. Albert I. Samner, a nephew of Charles Summer. He had been residing in Dresdon, Saxony, for some time, studying and pracwas on his met fate. tieing way He home his when profession, he and his sad was yet in the prime of life, and the future ..:11:

19. September 23, 1873 New Orleans Republican New Orleans, LA
Article from New Orleans Republican, September 23, 1873

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BANK FAILURES The Condition of Affairs Monday Morning. NEW YORK, September The Gold Ex. change has closed, the same as the Stock Exchange: 112 has been established as the basis of settlements. The room will re. main open for the purpose of settlement. The rate of interest is fixed at seven per cent for carrying. It is officially announced that Secretary Richardson will continue to buy bonds at Saturday's quetations, He (Secretary Richardson) said last night he did not see that he had the power to do more than buy bonds, and all tive-twenties offered will be bought without delay or red tape. The government, the Secretary adds, "is not a trust company or loan institution, and it is doubtful whether Congress would sanction any such construction of my power. The above alludes to using the $40,000,000 reserves. Thirty savings banks have resolved to rigidly enforce the previously noticed clause. The Stock Exchange remains closed today. from the Clearing House office check passed says A message that every through It the Clearing House will be paid. says the banks are in no danger: they were never stronger. All the banks have pulled through except the two settling through the loan committee. All the savings banks "runned" the Clearing House. The loan committee issued : 0.000 gov. ernment certified checks and $1,000,000 bonds. Large crowds are waiting to sell Montreal and Europe are buying stocks at a *shrinkage. The sub-treasury is buying five-twenties at 110 12-100. The run on the Seamen's Bank has commenced. They pay sums of $100 and under: larger amounts must await the law's delay. When the doors of the Irving Savings 96 Warren street, were opened this a crowd of in. for their money. Bank, clamoring morning No. depositors work. The and rashed paying teller immediately set to com. menced to satisfy their demands. When the majority saw how willingly money was being paid out they became quieted and left. Up two o'clock the bank had paid out about $10,000, and received a considerable amount in deposits. At the Broadway Savings Bank. No. : Park place. business was being done as or no excitement out up to while a amount had been not The usual. amount exceed Little paid 810.000. received. two proportional prevailed. clock did The bank officials do not anticipate a run. Shortly after the Bowery Savings Bank opened its doors this morning large numit bers of depositors began arriving, and soon became evident there was going to be run The trustees met and decided to a allowances, as they did not believe the PULL pay would last. The trustees etated that nearly all of the depositors drawing out their money were small accounts. The trustees say that they have got 812.000.000 government bonds and about $2,000,000 in New York and $100,000 in Brooklyn which they could draw on immediately. However. if the run lasts they will take advantage of the thirty days notice clause in the by but will even then pay out sums up to 8200 or $300, so as to save their depositors from any inconvenience. New York Savings Bank. Sixth has a run. All checks are cashed. The a which is being met. slight promptly avenue. The run. Greenwich checks promptly has being The Biecker is paying all upon presentation. There is a large crowd in attendance. The Atlantic is paying all checks of $100 and less upon presentation. Checks of greater amount are required to abide by the sixty days by-law. Feeling of Relief. The feeling among all classes is one of of great relief. There are no runs on any the national or State banks. and the crowds on Wall street are mainly curious spectators. There is considerable inquiry for stocks on the streets. investors with greenbacks seeking purchases. but the prohibit tion of the Stock Exchange precludes trans. actions. Cooke & Co.'s Creditors. : of Jay Cooke & cred- have itore No held until full will meeting Jay be statements Co. been received from the various branch they have throughout the county offices these are now being prepared with the try: utmost dispatch. The firm can not at 0 present say anything with regard to the duration of their suspension. The Clearing House has issued a state ment that all the banks made their clear- here. satisfactorily. including the two tofore reported in doubt. The following are the street anotations showing the falling off: New York Central 90, Hariem 106. Eric 51. Rock Island 87. Panama 88. How it is Arranged. of drafts drawn of Jay Cooke Co. correspondents Holders by banks the & under referred for honor to the and bankers are set opposite their respective names. ( Drafts drawn against money deposited since their suspension will be paid upon presentation to Jay Cooke, McCulloch & Co., Lordon: Drexel, Morgan & Co. Home Insurance and Banking ComGalveston; American Exchange NaP pany, tional Bank: Planters and Miners' Bank, t Centreville, Georgia; National Park Bank: p Georgia Banking and Trust Company. At lanta, Georgia; Hopkins, Dwight & Trowf bridge Savings Institution, Mobile; Metropolitan National Bank. What the Express Says. t Express says: "After all but one bank The suspended and two trust companies. has The banks both here and in Washington, as B turns out, were worse scared than hurt, and It h indeed half the panic has been a scare. is understood that the loan committee

20. September 24, 1873 Knoxville Weekly Chronicle Knoxville, TN
Article from Knoxville Weekly Chronicle, September 24, 1873

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WASHINGTON. Sent. 22.-In the course of the morning the President called at the Treasury Department and had a conference with Secretary Richardson. The result of it may be inferred from the fact thatsubsequently the Secretary stated to the agent of the New York Associated Press that the President will o anything within the law but will in no particular go beyond his clear legal authority. He will maintain the safety of the Treasury Department and protect the credit of the United States from the influences of the present financial embarrassment. Jay Cooke re-asserts the solvency of the London house. A private dispatch from Shreveport is discouraging. Pastor Hutter, of St. Mathew's Lutheran Church of Philadelphia is dead, aged 61 years. An American steamer at Newfoundland reports collision with a fisherman, three out of fifteen were saved. Bettingist and three to one on Brown for to-morrow's boat raco at Halifax. The Treasury Department denies that the navy account fund had been transferred from Jay Cooke, McCulloch & Co. Judge Richardson, says he will look out that the Government does its duty within the law, and he knows exactly where to get all the funds that are necessary, but does not intimate a word about the much talked of legal tender reserve, furnishing a part of the money to go to the Assistant Treasurer at New York. No meeting of the creditors will be held until full statements have been received from the various branch offices throughout the country. These are being prepared with the utmost dispatch. The firm can not at present say anything in regard to the duration of their suspension. The Clearing House statement is out to-day and shows that all the banks made their clearing satisfactorily, including the two heretofore reported in doubt. The following are the street quotations, showing a falling off New York Central, 91 Harlem, 106: Erie, 51; Rock Island, 87 Panama, 88. At present the excitement has complete. ly subsided. At the Broadway Sayings Bank, No. 4 Park Place, business was being transacted as usual, little or no exeitement prevailing. The amount paid up to two o'clock did not exceed $10,000, while the proportionate amount had been received. The bank officials do not anticipate a run. Shortly after the Bowery Savings Bank opened its doors, this morning, a large number of depositors began arriving and it soon became evident that there was going to be a run. The trustees met and decided to pay. all demands, as they did not believe that the run would last. One of the trustees stated that nearly all of the depositors drawing out their money were those having small accounts. The trustees say that they have et $2,000,000 government bonds, $1,000,000 in New York and $1,000,000 in Brooklyn, which could be drawn on immediately. However, if the run lasts, they will take advantage of every notice clause in their by-laws, but will even then pay out sums deup to $200 or $300, SO as to save their positors from any inconvenience. The Union Dime"Savings Bank, Canal street, is besieged by a vast throng. About two hundred are inside. The doors are closed, and a placard in the window announces that as many persons are in as can be paid to-day. The bank is amply able to meet the run, having on hand $1,500,000ir cash. They will sell to-day $500,000 in bonds, the proceeds going to reinforce their cash for to-morrow's run. They are not exacting the sixty days privilege accorded by its (by-laws. There are ninety thousand depositors with the institution. The New York Savings bank of Sixth Avenue, has had a run of $100,000, all checks being promptly cashed. The Greenwich Savings bank has had a slight run, which was promptly met. The Blecker street Bank is paying all checks upon presentation. A large line is in attendance. The Atlantic bank is paying all checks of one hundred dollars and less upon presentation. Checks of a greater amount are required to abide by sixty days by-law. Currency for the Purchase ef Ronds Fortheoming, WASHINGTON, Sept. 22.-Richard Harrington was appointed Secretary of State, of this District, vice E. L. Stanton, Esq., resigned. There will be a sufficient amount of currency in New York to-morrow, belonging to the Government to buy all the bonds that may be offered. The Secretary of the Treasury bas all that is necessary. and will lookout that there is enough in the hands of the Assistant Treasurer to buy everything in the shape of Government bonds that are presented for sale. Run on Savings Banks. The run on the Washington sayings banks to-day was comparatively very slight. Secretary Richardson received the following dispatch, dated at New York, today: Mercantile business progresses as usual. Wall street is already itself. The people join in congratulations to the President and Secretary Richardson for their stability. The Stock Exchange will be opened Wednesday Notice from Southern Banks. NEW YORK, Sept. 92 The holders of e drafts drawn by the undersigned, who are of Jay ree ferred honor to the banks correspondents for Cooke & and Co., bankers are Drafts set opposite their respective names.

21. October 20, 1873 Public Ledger Memphis, TN
Article from Public Ledger, October 20, 1873

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A Luckless Depositor. New York Cor. of the Chicago Tribune.] A prominent lawyer, who had kept a large deposit for some time in the Broadway Bank, drew it out and placed it in the Atlantic Bank. When the Broadway failed, last winter, he felicitated himself upon the change he had made. Early in the spring he took his money from the Atlantic, and put it in the Union Trust Company. Soon after, the Atlantic closed its doors, and he was delighted to think how lucky he had been in not leaving his funds in its custody. Last week the run began on the Union Trust, and he hurried to the bank, and, by three hours of excitement, anxiety and crowding, he carried eff his balance, and ledged it with Howes & Macy. There he felt confident it would be safe, and was comfounded on learning that they had also suspended. He is now of opinion that it was his destiny to have his money in some failing banking-house, and that, if he had changed it a hundred times, the ultimate result would have been the same.

22. April 23, 1876 The New York Herald New York, NY
Article from The New York Herald, April 23, 1876

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DUNCAN, SHERMAN & CO. The adjourned first meeting of the creditors of the bankrupts, Duncan, Sherman & Co., was held yesterday, before Register Edgar Ketchum, at the Bennett Building, for the purpose of electing an assignee. So large was the attendance of creditors that the Register's office was found to be too small for its accommodation, and a large apartment on the first floor of the building was used for the place of meeting. Among the largest creditors represented were Baring Bros., of London; First National Bank, of San Francisco; Andrew Low, of Savannah; the National Bank, of St. Thomas; Thorne, Watson & Co.; Jesse F. Stader; Ware, Murphy & Co.; Hazen & Kimball, Hollis & Bacon, the National Bank of the State of New York, Daniel Mapes, E. J. Donnell, Josiah A. Horsey and the National Park Bank. About a dozen debts in addition to those already published in the HERALD were proved yesterday, which makes a total of about 150 claims filed, which aggregate about $2,500,000. When the election of an assignee was proceeded with it became evident that it was the universal wish of those present that Mr. Charles E. Strong, counsellor at law, of No. 68 Wall street, the receiver of the Atlantic Bank, should be elected to that office. The result was the unanimous choice of Mr. Strong for the assigneeship, on the nomination of Mr. Southmayd, of the firm of Evarts, Southmayd & Choate, who represented Baring Brothers, of London. The claim of Messrs. Stapfer & Strenli against Duncan, Sherman & Co., is $15,000, and not $150,000, a misprinted in yesterday's HERALD.