Union Bank (New York, NY)

Episode Information

Episode UID
7709308891324
Episode Type
Suspension โ†’ Closure
Bank Type
state
Bank ID
770930889 hash
Start Date
April 4, 1910
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
8b7c99839f0f3fa0

Response Measures

None

Description

The articles refer to the Union Bank of Brooklyn, which was a state-chartered institution that failed in 1910; these 1917-1919 articles discuss liquidation and dividends.

Events (2)

1. April 4, 1910 Suspension
Cause Details
The bank is described as defunct and in liquidation; historical records indicate it failed in April 1910.
Newspaper Excerpt
depositors of the defunct Union Bank, of Brooklyn
Source
newspapers
2. March 20, 1917 Other
Newspaper Excerpt
authorization to pay another 5 per cent dividend to the depositors of the defunct Union Bank, of Brooklyn
Source
newspapers

Newspaper Articles (2)

Article from New-York Tribune, March 21, 1917

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Article Text

New York Union Bank Depositors to Receive Another Dividend.-State Superintendent of Banks Eugene Lamb Richards made application yesterday to Supreme Court Justice Aspinall, of Brooklyn, for authorization to pay another 5 per cent dividend to the depositors of the defunct Union Bank, of Brooklyn. This will be the second 5 per cent dividend payment made within the last seven months, and will mean the disbursement of over $185,000. The application was supported in court by the depositors' committee of the Union Bank. The payment of the dividend was made possible through the sales of various parcels of real estate and the insistence by the Superintendent of Banks on the payment in full of $100,000 of Ohio Copper bonds, which was up as collateral with the so-called Heinze loan. The 5 per cent payment to stockholders will leave a balance of about $6,000 for liquidation purposes. The immediate payment of the dividend was authorized by Justice Aspinall. Long Island Suit Dismissed.-Justice Lehman yesterday decided against Evans R. Dick, a banker, and other minority stockholders of the Long Island Railroad in their action for a receivership for the company and the restitution by the Pennsylvania Railroad Company and its directors of $28,000,000 for moneys which the plaintiffs alleged were wasted and diverted. It was alleged by Mr. Dick that the Pennsylvania Railroad. controlling the Long Island Railroad, had spent money injudiciously and in other manner had


Article from The Sun, April 21, 1919

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Article Text

Bill for Aircraft Insurance. Other measures before the Governor would permit fire, marine and casualty insurance companies to take risks on airplanes, fiying boats and dirigible balloons and their operators: would allow depositors of the failed Union and Borough Banks of Brooklyn to go before the State Court of Claims in an effort to collect for their losses and would provide for an investigation of the State right to develop water power at Niagara and Long Sault Rapids, St. Lawrence, and to figure on the cost of this development. Included in the list are the Lockwood conductorette bill and the Sammis measure regulating service of women elevator operators. Both prohibit the employment of women for more than nine hours a day, or after 10 o'clock at night and before 6 o'clock in the morning. The Lockwood bill provides that no woman under 21 shall be employed in the operation of surface, elevated or underground railways, and the Sammis bill prohibits the employment of females under 18 to run elevators. Three bills carrying out the recommendations of the Governor, and which he undoubtedly will sign, are: Providing for reorganization of the New York city five man Public Service Commission under a single commissioner. creating a rapid transit commissioner to build the rest of the city's subways, and providing that the Industrial Commission must conduct a review of every workman's compensation case in which direct settlements are made. Awalting signature also is the bill of Senator Clayton R. Lusk of Cortland which permits cities and villages to create industrial aid commissions. to remedy unemployment conditions, and to furnish food, shelter and clothing to persons unemployed until they find jobs and begin receiving wages.