National Bank of Redemption

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 515
Charter Number: 515
Start Date: November 8, 1888
Location: Boston, Massachusetts (42.358, -71.060)

Metadata

Model: gpt-5-mini
Short Digest: 660ac640

Response Measures

None

Description

Newspaper reports (Nov 1888) state W. B. Forbes, president of the National Bank of Redemption, Boston, has made an assignment for the benefit of his creditors and an assignee (Henry S. Dewey) values liabilities and assets. No run or depositor panic is mentioned; assignment indicates failure/receivership. Classified as suspension_closure (suspension/closure with receiver).

Events (3)

1. September 12, 1864 Chartered

Source: historical_nic

2. November 8, 1888 Receivership

Newspaper Excerpt: W.B. FORBES, president of the National Bank of Redemption, Boston, has made an assignment for the benefit of his creditors. ... HENRY S. DEWEY, the assignee of William D. Forbes, late president of the National Bank of Redemption, Boston, says that the liabilities can be placed at $200,000 and the nominal assets at from $60,000 to $75,000, composed largely of Forbes' property.
Source: newspapers

3. May 31, 1904 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (2)

1. November 8, 1888 Barton County Democrat Great Bend, KS

Article from Barton County Democrat, November 8, 1888

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Article Text

THE WORLD AT LARGE. Summary of the Daily News. SHION NOJONIHSVA CHAIRMAN RANDALL has called for a meeting of the House Com mittee on Appropriations November 21 tobegin the prepparation of appropriation bills. ALLAN D. BROWN will command the Kearsarge, detailed for duty in Haytian waters. A, C. BERRYMAN, FirstLieutenant United States navy, attached to the Enterprise, "has been sent home from Europe under sentence of a court martial. A LETTER kas been sent by the InterState Commerce Commission to the railroad and telegraph companies affected by 'the act placing the telegraph lines of the railroads which received Government aid under the control of the Commission, calling their attention to the fact that they have not complied with the provisions of :the act requiring them to file certain in'formation with the Inter-State Commerce Commission. THE decrease of the public debt during the month of October amounted to $4,585,619. THE President's thanksgiving proclamation was issued on the 1st, appointing November 29 for the purpose. INFORMATION having been received at theNavy Department that the steel cruiser Boston had arrived at Kingston, Jamaica, Acting Secretary Harmony decided to re'voke the orders sending-thè Kearsarge, now lying in dock at Portsmouth, N. H., 'to protect American interests in Hayti and to order-the Boston there in her stead. THE EAST. THE case of General Adam Badeau 'again t the wide'v of U. S. Grant for $10,000 for alleged services on General Grant's memoirs, has bren discontinued on con. Cardies. JO ques. GEORGE L. WALLACE, a well known Vocalist of Troy, N. Y., committed suicide Secently by shooting him elf. W. J. WILCOX & Ct., lard refiners of New York City, have been bought out by The Ameri can Cotton Seed Oil Company. ALL the railroad miners in Western Pennsylvania are to receive five cents per 'sedes u! uoe A RIOT occurred at Twenty-sixth street and Sixth avenue, New York, on the 31st, between a colored Republican procession and a Democratic mob. Several persons were seriously injured, one man having both eyes destroyed. sng pus 1 Amanda Hons evening us 101 ano 9.19M at Greensburg, Pa., in stepping off one 'track to avoid a train they were run down by another train coming in the opposite direction and killed. THE seventh annual convention of the Woman's Missionary Society was opened @t Boston on the 1st, with a large attendance of delegates from all parts of the @ountry. Mrs. Rutherford B. Hayes, of chair. the Oilo L. HERMAN, a New York money changer and banker, has disappeared with $5,000 belonging to Polish Jews intrusted to his varo to be sent to England. FRED MARCY & Co., jewelers, of Providence, R. 1., have assigned with $35,000 assets and $65,000 liabilities. THE principal part of the village.of Durhamville, Vt., was destroyed by fire the Other night. Loss, $30,000. W.B. FORBES, president of the National Bank of Redemption, Boston, has made an assignment for the benefit of his creditors. He had been dealing heavily in real estate of late. EDWARD H. GOFF, formerly publisher of the New York Graphic, has made an aspreferences. missing C. W. DURANT. a New York stock broker, has failed with unknown assets pus THE boiler of a steam thresher exploded son the farm of Joseph Spayd, near ReadMing, Pa, the other day. Five persons were instantly killed and two or three @Others shockingly injured. HEBBERT L. CRITCHETT, aged thirtythree, of the firm of Daniels & Critchett, real estate and auotioneers, Boston, has disappeared, leaving a large deficit in his accounts with the firm amounting, it is '060'92$.04 "pless Two men were killed and seven injured thy the wracking of a hand-car near Hopewell, Fa., the other day. FIVE thousand dollars reward has:been offered for the arrest of William R. Foster, Jr, :late counsel of the gratuity fund of the "New York Produce Exchange, who -10048 e.Snq B чтт. recentify persoddesip. 'esu: FINDLEY & BOWMAN,ironmanufacturers New York City, have made an assignment. Assets and liabilities unknown. HENRY S. DEWEY, the assignee of Wildiam D. Forbes, late president of the Na*ional Bank of Redemption, Boston, says *hatthe:liabilities canbe:placed/at $200,000 and the nominal assets at from $60,000 to -do.rd Forbes, JO pesoditios '000'92'S anty. JOSEPH SPINELLY, an Italian aged tiventy-two years, fatally stabbed his mother in the breast at Pittsburgh, Pa., recently, because she refused to give him Aenour этоя IN the Kettle Creek Coal Mining Company's onines, thirty miles west of Lick Haven, Pa, the other night an explosion courred in anew drift in which twentyJO 'Y.IOM the eHeM sucsued one he unfortunate men were killed, most of them being Hungarians or Italians. WHILE four young men, James Hayes, Honry Germley. William Sellam and Charles Cogas were sailing in Dorchester day. near Boston, the other day their boat petron 1srg three equal pus pezisdes pen now

2. November 10, 1888 The Osceola Times Osceola, AR

Article from The Osceola Times, November 10, 1888

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Article Text

THE EAST. THE case of General Adam Badeau against the widow of U.S. Grant for $10,000 for alleged services on General Grant's memoirs, has been discontinued on consent of both parties. GEORGE L. WALLACE, a well known vocalist of Troy, N. Y., committed suicide recently by shooting himself. W. J. WILCOX & Co., lard refiners of New York City, have been bought out by the American Cotton Seed Oil Company. ALL the railroad miners in Western Pennsylvania are to receive five cents per ton advance in wages. A RIOT occurred at Twenty-sixth street and Sixth avenue, New York, on the 31st, between a colored Republican procession and a Democratic mob. Several persons were seriously injured, one man having both eyes destroyed. WHILE Amanda Montgomery and Gus Wineman were out for an evening stroll at Greensburg. Pa., in stepping off one track to avoid a train they were run down by another train coming in the opposite direction and killed. THE seventh annual convention of the Woman's Missionary Society was opened at Boston on the 1st, with a large attendance of delegates from all parts of the country. Mrs. Rutherford B. Hayes, of Ohio, occupied the chair. L. HERMAN, a New York money changer and banker, has disappeared with $5,000 belonging to Polish Jews intrusted to his care to be sent to England. FRED I. MARCY & Co., jewelers, of Providence, R. I., have assigned with $35,000 assets and $65,000 liabilities. THE principal part of the village of Durhamville, Vt., was destroyed by fire the other night. Loss, $30,000. W.B. FORBES, president of the National Bank of Redemption, Boston, has made an assignment for the benefit of his creditors. He had been dealing heavily in real estate of late. EDWARD H. GOFF, formerly publisher of the New York Graphic, has made an asesignment without preferences. C. W. DURANT. a New York stock broker, has failed with unknown assets and liabilities. THE boiler of a steam threshor exploded on the farm of Joseph Spayd, near Reading, Pa., the other day. Five persons were instantly killed and two or three others shockingly injured. HERBERT L. CRITCHETT. aged thirtythree, of the firm of Daniels & Critchett, real estate and auctioneers, Boston, has disappeared, leaving a large deficit in his accounts with the firm amounting, it is maid, to $25,000. Two men were killed and seven injured by the wrecking of a hand-car near Hopewell, Pa., the other day. FIVE thousand dollars reward has been offered for the arrest of William R. Foster, Jr., late counsel of the gratuity fund of the New York Produce Exchange, who disappeared recently with a huge shortlage. FINDLEY & BOWMAN, iron manufacturers of New York City, have made an assignment. Assets and liabilities unknown. HENRY S. DEWEY, the assignee of WilIllam D. Forbes, late president of the National Bank of Redemption, Boston, says that the liabilities can be placed at $200,000 and the nominal assets at from $60,000 to $75,000, composed largely of Forbes' property. JOSEPH SPINELLY, an Italian aged twenty-two years, fatally stabbed his another in the breast at Pittsburgh, Pa., recently, because she refused to give him some money. IN the Kettle Creek Coal Mining Company's mines, thirty miles west of Lick Haven, Pa., the other night an explosion occurred in a new drift in which twentyone persons were at work. Seventeen of the unfortunate men were killed, most of them being Hungarians or Italians. WHILE four young men, James Hayes, Henry Gormley, William Sellan and Charles Cogan were sailing in Dorchester bay, near Boston, theother day their boat capsized and the three hrsi named were drowned.