8185. First National Bank (Newton, MA)

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 488
Charter Number: 488
Start Date: March 2, 1867
Location: Newton, Massachusetts (42.337, -71.209)

Metadata

Model: gpt-5-mini
Short Digest: e116c51f

Response Measures

None

Description

Cashier E. Porter Dyer Jr. absconded and was found to be short ~$110,000 (defalcation). The bank was closed/suspended for official examination in early March 1867 and was placed in charge of Comptroller/agents; later listed as in receivership (June 1867) with D. W. Jones as receiver. No contemporaneous run described in the articles—failure due to bank-specific embezzlement/irregularities tied to Mellen, Ward & Co. exposures.

Events (4)

1. July 27, 1864 Chartered

Source: historical_nic

2. March 2, 1867 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Embezzlement/defalcation by the cashier E. Porter Dyer Jr.; cashier absconded leaving bank about $110,000 short. Suspension ordered for examination and investigation by directors and Comptroller agents.
Newspaper Excerpt: E. Porter Dyer, Jr., the cashier of the First National Bank of Newton, Mass., is short $110,000 ... The President of the bank gave notice that the cashier came to Boston yesterday at eleven o'clock and has not since been heard of.
Source: newspapers

3. March 11, 1867 Voluntary Liquidation

Source: historical_nic

4. June 11, 1867 Receivership

Newspaper Excerpt: The First National Bank of Newton, Mass., $130,000 ... have failed, and are now in the hands of receivers, with the amount of circulating notes issued to each ... First National Bank of Newton, Mass., $130,000. (Listings of failed banks.) Also: The receiver of the First National Bank of Newton, Mass., Dr. D. W. Jones, has been engaged since the suspension of the institution ... (Aug. 1 article).
Source: newspapers

Newspaper Articles (20)

1. March 3, 1867 The New York Herald New York, NY

Article from The New York Herald, March 3, 1867

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BANK TROUBLES, DEFALCATIONS AND ERAUDS. First National Bank of Hudson. N. Y. HUDSON, N. Y., March 2, 1867. The First National Bank of this city was closed to day for examination of accounts, it being alleged that Peter S. Wynkoop, the cashier, is a defaulter to a large amount. The directors of the bank are investigating the matter, and will report the amount of deficiency as soon as ascertained. The cashier makes a clean breast of it, and acknowledges that he has lost heavily by speculations in fancy stocks. The following notice was posted on the doors of the bank to-day:The board of directors of the First National Bank of Hudson are pained to inform the public that owing to known defalcations of the cashier of that institution they are compelled to close its doors until a full examination of its condition can be made. Notwithstand. ing the frank confession of the late cashier it is impossible at this moment, from the absence of proper data, and the state of the cashier's mind, to determine what is the actual amount of the defalcations; but from present appearances they are thought to be such as to imparir only a minor part of the capital. The board have every confidence in assuring depositors that they are amply secured. Bill holders, of course, have nothing to fear. Valuables deposited for safe keeping are believed to be untouched. Every means in the power of the board will be used to relieve depositors from their unfortunate situations. At the earliest mement a statement of the affairs of the bank will be made. J. W. FAIRFIELD, President. An investigation into the affairs of the bank shows as embezzlement of about $50,000. A further examina. tion will doubtless increase the amount. Hasbrouck, the defaulting cashier, was taken into custody this evening at the instance of the president of the bank and lodged in jail. The above bank has a paid in capital of $200,000, and power to increase to half a million. Its notes are no. deemed at the Ninth National Bank of New York city. First National Bank of Newton, Mass. BOSTON, March 2, 1867. There is great trouble in financial circles here. E. Porter Dyer, Jr., the cashier of the First National Bank of Newton, Mass., is short $110,000 The President of the bank gave notice that the cashier came to Boston yesterday at eleven o'clock and has not since been heard of. The paid in capital of the bank is only $150,000, but it has authority to increase its stock to $300,000. It redeems in New York at the National Park Bank. Swindling the Dollar Savings Bank of Pitte. burg, Pa. Relative to the embezzlement of some $15,000 CODEmitted by A. V. H. Elder, general bookkeeper of the Dollar Savings Bank at Pittsburg, the Post of that city has the following:The occasion of the discovery of the fraud was as follows:-A gentleman, whose name we forbear making public, received a small patrimony, amounting to some $700, which he deposited in the Dollar Savings Bank for safe keeping. The sum was correctly entered upon the depositor's bankbook, but upon the credit book in the bank it was set down $200, the bookkeeper pocketing the other $500. In a short time the depositor wished to check for $200, whereupon the teller asked him if he would not have his account balanced. He replied in the negative, stating that he still had some $500 on deposit, when be was requested to leave his book for settlement. This was done. The discrepancy was discovered and suspicion aroused. The directors were informed, other pass books were sent for and accounts settled, in which similar errors were found to exists. A thorough investigation took place, and deficits to the above amount were found. State Bank of Massachusetts-Over Half a Million Dollars Involved. BOSTON, March 2, 1867. There was considerable excitement in State street this morning occasioned by the development of the irregularities in transactions of the cashier of the State Bank in regard to certification of checks as "good" bearing the name of Mellen, Ward & Co., brokers, who suspended payment yesterday. These checks were presented at the Clearing House at the morning settlement by the various banks holding the same and were thrown out by the State Bank, on which certifications were made. The directors of the institution declare that they never entered into, or agreed to any arrangement made with the city banks for the certification of checks, and such action of their cashier was wholly unauthorized by them. The sum involved in these transactions is upwards of half a million dollars. Other parties besides those mentioned are also implicated in these diffculties.

2. March 4, 1867 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, March 4, 1867

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FINANCIAL TROUBLE IN BOSTON.-There was great excitement in Boston on Saturday, occasioned by certain financial transactions, in which the Cashier of the State Bank seems to have been mixed up. It was announced on Friday afternoon that the broker and banking firm of Mellen, Ward & Co. had suspended and as they had operated largely in copper stocks the effect on the market was felt Saturday, especially in Copper Falls, which sold on Friday at 74 and Saturday declined to 29. On Saturday it was ascertained that this failure had brought to light irregularities which implicated a large number of persons and involved several of the banks in heavy losses. It was stated on the street that Mr. Julius F. Hartwell, Cashier of the Sub-Treasury, obtained on certain gold certificates a large amount of money, which he deposited in the Merchants' Bank. He subsequently withdrew this amount, which is stated to reach over five hundred thousand dollars, by depositing a check certified by Charles H. Smith, Cashier of the State Bank. Saturday the check held by the Merchants' Bank was presented to the State Bank, when it was refused paymeut on the ground that no entry of the transaction appeared on the books. The Merchants' Bank still hold the check and the question of responsibility will be settled hereafter. Mr. Smith resigned his position and his resignation was accepted. It is stated that the cash account of the SubTreasury is correct, and it is rumored that the gold checks which were made the basis of the transaction in the first place were either uncancelled checks which had been paid or were fraudulently used. Mr. Julius F. Hartwell, it is reported, has been relieved at the Sub-Treasury. Mr. Carter, of the firm of Mellen, Ward & Co., is a director of the Newton Bank, which is said to be a sufferer, but to what amount is not known. The effect on State street of this startling expose was very marked. Many rumors were current regarding the losses of other banks, but they are of very inconsiderable amounts. It has not been ascertained what became of the gold checks, but as the cash at the SubTreasury is right, it is to be presumed they are held by innocent parties who have advanced money, accepting them as security. It is stated when the check of Mellen, Ward & Co. was first offered at the Merchants' Bank it was not certified, but Mr. Smith, Cashier of the State Bank, subsequently went into the Merchants' Bank and there certified it, taking the securities. These were carried to the SubTreasury, and as it was late, Mr. Smith was informed that a certificate of deposit would be sent to the State Bank in the morning. On making a demand for it, Mr. Smith was informed that there was nothing in the Sub-Treasury to the credit of the Bank. The Second National Bank (Granite) has one of the checks to the amount of $175,000. It is reported that Mr. Carter has been arrested, and it is also stated that the loss of the First National Bank of Newton is so heavy that it will be obliged to wind up. The bill holders under the National Banking system are secured.

3. March 5, 1867 New-York Tribune New York, NY

Article from New-York Tribune, March 5, 1867

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THE BANK DEFALCATIONS. WASHINGTON, March 4.-The First National Banks of Newton, Mass., and Hudson, N. Y., have been placed in charge of agents of the Controller of the Currency for investigation. It is expected that the First National Bank of Hudson, N. Y., will pay all its losses and go on. The Mechanics' National Bank of Bank of Baltimore will not suspend business. The Directors and stockholders are wealthy, and will pay up the amount of defalcation. The defalcation of this bank commenced more than 20 years ago, but had been skillfully covered up and concealed, but was finally brought to light by an official examination, made by an agent of the Controller of the Currency. Mr. Huilburd acts promptly, and will carry out the law to the extent of his powers under the law. FINANCIAL DISTRUST IN BOSTON.) BY TRIEGRAPH TO THE TRIBUNE. BOSTON, March 4.-The Journal of this evening says: There is a general feeling of distrust on the street so far as regards the transactions of brokers and bankers, the recent failure having brought to light such Fross irregularities that even well-established and high-toned houses suffer from the suspicion which is naturally created. The First National Bank of Newton appears to have been completely cleaned out, and many eases of individual suffering are related. It appears probable that one or two other banks, besides those emmierated, have been subjected to loss, and $20,000 was taken out of one individual whose friendship made him an easy dupe. We are happy to hear that there is every prospect that the whole affair will be made the subject of legal investiga tion. THE HUDSON DEFALCATION-CORRECTION HUDSON, N. Y., March 4.-The New-York pape erroneously publish the name of P. 8. Wyukoop am of the defaulting cashier in this city. Justice to A Wynkoop requires that this mistake should be correcte Joseph Hasbrouck is the defaulter, of the First Nation Bank. Mr; Wynkoop has had no connection with thi bank for a long time past.

4. March 5, 1867 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN

Article from Memphis Daily Appeal, March 5, 1867

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LATEST BY TELEGRAPH [WESTERN ASSOCIATED PRESS REPORTS.] Noon Dispatches. SAN FRANCISCO, March 4 The se verest storm of the season is prevailing along the entire Pacific coast. There have been no stages across the Sierra Nevada for two weeks. W WASHINGTON, March 4. -In the senate, Sunday evening, the Indian bureau conference reported that they were unable to agree. The conference report of the fortification appropriation bill was agreed to. The joint resplution relative to the water power for the Rock Island arsenal, was passed. The house reassembled at eight o'clock last evening. Stevens made a personal explanation, denying that there was any truth in the recent publication regarding the conversation between Ashley, Bingham and himself, wherein Gen. Grant' s name had been involved. The judiciary committee has reported the impeachment preamble and resolutions under which impeachment was ordered, saying if the final in investigations had even approached completeness, the committee would not feel authorized to present the result to the house at this late period of the session unless the charges had been so entirely negative as to admit of no discussion, which the committee think is not the case. No affirmative report could be properly con sidered in the expiring hours of this congress. All charges not having been fairly investigated ngainst the president, it is deemed expedient to submit beyond the statement; sufficient testimony not being adduced to justify the demand for further prosecution The investigation committee regret the inability to defi nitely dispose of the subject. The house committee on public lands reported adversely on the memorial of the Kansas legislature for a grant of land for a freedmen's university, and also on a memorial of the governor dona- and legislative assembl of Utah for tion to aid the common school fund. The senate amendments to the defiA ciency bill were not concurred in. conference is asked Rogers, on a minority impeachment report, says there is not a particle of evidence before the committee to sustain of the charges which the house any charged the committee to investigate and the case is wholly without a particle of evidence whereupon the impeachment could be founded Rogers says that most of the evidence taken is of a secondary character, such as would not be admitted in any court of justice, and he sees no good in continuing the investigation, The judiciary committee, in regard to the Surratt case, says that due deliberance in his pursuit and arrest was not exercised by the executive department. number The senate confirmed a large of appointments -names notgiven. House. Mr. Washburn, from the fortification appropriation conference, presimade a report and agreed to the dent's message received relative to the removal of the Protestant church from Rome. A joint resolution was passed refunding certain national bank taxes illegally collected. BALTIMORE, March 4.-A defalcation the $300,000 has been discovered in of Merchants' national bank of this city Samuel J. Wentz, book -keeper, aged thirty five, and John H. Rogers, arrested, paying teller, aged twenty five, were were released on giving bail for $10,000 each. The frauds run through a period of twenty- seven years. The Lank ita liabilities. will meet March 4 Miller, Ward & dollars. Co.'s BOSTON, failure amounts to nearly one milThe First national bank of Newton has suspended loss, two hundred its ville dollars. Nearly double capital money thousand was lost in stocks. Julius T. Hartwell, cashier of the sub-treasury re concerned in these transactions, has are The government losses State nothing. signed. Smith, cashier of the bank, Minister has resigned. King deniesthat an American papal chapel had been removed by the and that outside of the walls, holdauthorities the minister had hired the villa for ing their the services. senate, a communication was In stating that the total abandoned amount presented from captured and $25, received was $34,000,000, whereof Agents 100.000 remain property as net proceeds. to resuch have been ordered store any holding unlawfully taken private prop erty upon due proof thereof. 4 Cowans' WASHINGTON March Austria was nomination as minister to tabled. A bill to prevent the perversion Senate. of the mails to fraudulent purposes passed. A joint resolution of thanks to Cyrus W. Field was resolution passed. was passed for the paying com A senators from the conof mencement Tennessee of the thirty-ninth gress. resolution was passed directing what Gen report to the senate desti amount Howard is to necessary to relieve the tute in The khe south senate bill establishing States House service between the United passed mail the Hiawauir islands was for the and senate's joint resolution of an inter The and construction isthmus of oceanic survey canal through the s Darien, was passed report on southern railroads to Maynard's incomplete, and it was proposed refer it to NEW YORK, the says nextcongress March 4. that Miramon A Mexican told Confede- some eorventlement respondent that the Southern in hand with the Fates were yet hand Gen. Hindman and that that the was might work fully together. March 4. Imperialists, establishments corresponding with them, The success- presdent minister WASHINGTON, will sign the bankrupt bill. to France Dix's nomination as two thirds of the was confirmed by over but Cowan's was was so iercely enators assailed present, that Buckalew foreed to have it tabled.

5. March 5, 1867 Daily Davenport Democrat Davenport, IA

Article from Daily Davenport Democrat, March 5, 1867

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WASHINGTON. W ASHINGTON, March 4.-The First Na. tional Bank of Newton, Mass., and the First National Bank of Hudson, New York, have been placed in charge of the Comptiolier of the Currency for investigation, It is espected that the last named Bank will pay all losses and go on. The Merchants' National Bank of Baltimore will not suspend business. The Directors and stockholders are wealth and will pay up the amount of defalcationIt is not probable tHat any formal sage*will be sent to Congress by the Presio dent. en short a time having elepsed since

6. March 6, 1867 Evening Star Washington, DC

Article from Evening Star, March 6, 1867

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GOVERNMENT SECURITIES. WASHINGTON, March 6, 1867. Jay Cooke & Co fornish the following quotations of Government securities: Buying. Selling. U. S. 6'8 Coupon, 1881 109 110 % U. S. Five Twenties, 1862 109 109 X U. S. Five Twenties. 1864 107 % 107% U. S. Five Twenties. 1865 108 107 % 107 U. S. Five Twentiee, Jan&J'y, '65. 106 x U. S. Ten Forties 97 98 106 TT N. Seven Thirtier, August 105 1/2 U.S. Seven Thirties, June 105 % 105% U. S. Seven Thirties, July 105 x 105% NEW YORK FIRST BOARD SALES. 10.40's Coupons 109% 97% 5.20's. 1862 109 105% 7.30's, August 5.20's, 1864 107% 7.30's, June 105 Y 5.20's, 1865 1071/2 105 7.30's. July Gold 5.20's. Jn &Jy, '65. 106% 135 THE NATIONAL BANK FAILURES - The Comptroller of the Currency has received re. ports from special agents in charge of the First National Bank of Newton, Massach asetts. and the First National Bank of Hudson, New York. which banks were lately com pelled to suspend business. and into the affairs of which the Compireller has ordered 10 vestigations to be made. The information is to the effect the affairs of the banks, and especially of the one at Hudson, are in a much more faverable condition than was a first thought, and it is supposed that the First National Bank of Hudson will, in a short time, pay off its losses and resume business operations. The Mechanics' National Bank of Baltimore, will not suspend business. although the losses are very heavy. The directors and stockhold. ers are wealthy men. and will pay up the amount of the defalcation. The defalcation in this bank commenced more than twenty years ago, but bad been skilfully concealed until brought to light by the official examination of an agent of the Comptroller ot the Currency, who has acted promptly in this matter, and will carry out the provisions of the law to the extent of his ability.

7. March 8, 1867 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN

Article from Memphis Daily Appeal, March 8, 1867

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Extremely rieh silver bearing ledges have been discovered in Nevada. The receipts of the internal revenue for the last week were $4,561,252. The First national banks of Newton, Mass., and of Hudson, N. Y., are placed in charge of agents of the controller of the currency, for investigation. It is expected the First national bank of Hudson, N. Y., will pay all its losses and go on. The Mechanics' national bank of Baltimore, it is stated, will not suspend business. The directors and stockholders are reported wealthy, and will pay up the amount of the defalcation. The New York bank statement for the week stands as follows :

8. March 8, 1867 Marshall County Republican Plymouth, IN

Article from Marshall County Republican, March 8, 1867

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The East. The Postmaster at Niagara Falls has been arrested for opening letters. The cashier of the First National Bank of Newton, Mass., has absconded, leaving the bank $110,000 short. The cashier of the First National Bank of Hudson is also a defaulter, compelling the bank to suspend business. He acknowledges having lo heavily in fancy stock speculations. A. a recent meeting of the Directors of the Union Telegraph Company in New York it was voted to abandon all further work on the Russian extension lines. The successful operation of the Attantic cable and their reduced tariff of rates, make the proposed overland cable unnecessary. Five dead bodies were found at Buffalo on the 27th, at the Grand Trunk railroad depot, packed in barrels, directed to a party in Ann Arbor, Michigan. The bodies were those of two men, two women, and one child, and, apparently, had not been dead over a week or ten days. They were intended for the use of the dissecting room at the University. Petitions have been drawn up, and will soon be circulated, asking that the Pan Handle counties, Ohio, Brooke and Hancock, be annexed to Pennsylvania. It is contended by those moving in the matter that if the counties above named were taken from West Virginia and attached to Pennsylvania, the people's burdens in the way of taxation would be much lighter, and that the territory is so situated that it would increase its value were it annexed to Pennsylvania.

9. March 13, 1867 Bloomsburg Democrat Bloomsburg, PA

Article from Bloomsburg Democrat, March 13, 1867

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FROM WASHINGTON, Washington, March 4th,1867. THE NEW CONGRESS. Thirty-ninth Congress expired to-day the The the House, Conat o elect for the but roll The twelve of was members immediately clock M. In called, Fortieth names. and all gress four answered to their Colfax three or farce was then enacted for Speakorganization candidate of the Radicals 127 er, The was and, the of course was elected, remainder receiving were votes out 157 cast. S. S. Marshall, of Illinois, given Democratic to Hon. candidate. Before Brooks, the voting of the commenced, Mr. for Speaker York, obtained the floor, and, that in the a New foreible speech, showed parallel brief but session of Congress has no been present history of the country having days af in the within a month and nine it, and convened the passage of the law authorizing no Represeventeen ter in addition to that fact, there States are of the sentatives Union-only from twenty, a bare majority, submitted being In conclusion, he Democratic represented. signed by all the He a protest," against such an organization. journal, members to have it entered upon the could not asked Clerk decided that he Speaker. but entertain the it, pending the election of A CAUCUS. Radical members of the Representa- House will The caucus in the Hall of of nomihold a this evening for the purpose tives candidates for Door-keeper, is Sergeant a great nating and Postmaster There dozens of at-Arms for these positions, and members scramble are busy to-day besieging the canaspirants advocate their claims. Among Radito for Door-keeper, is a defeated Illinois, cal didates candidate for Congress from named Lippincott. DURATION OF THE SESSION. general impression is that few the present weeks The will not last more than a the imsession The intention seems to be to refer Commitquestion to the regular committee peachment the Judiciary, or a special to authorprefers the latter-and the recess -Butler committee to sit during session. of ize Congress said and to report at the next THE PRESIDENT AT THE CAPITOL. Star says: The President, accompa- Colonel The his private Secretaries, Mornied by Colonel Johnson. and Colonel this mornMoore, left the Executive Mansion to the row, about ten o 'clock and proceeded in signing ing where he was engaged and Capitol. the adjournment of Congress, half bills returned until to the White House about past twelve. CRIPPLED NATIONAL BANKS. THE First National Banks New of Newton, York, Massachusetts, The and Hudson, of the been placed in charge of for agents investigahave Comptroller of the Currency that the First National tion. of It is Hudson, expected New York, will pay Na- all Bank and go on. The Mechanics suspend business. its tional losses Bank of Baltimore will not Washington, March 5. NO MESSAGE. Dawes, from the committee President appoint and ed Mr. yesterday to wait on the of the two houses inform him that quorum were ready to receive any assembled be pleased to communication had and he might committee make, had to-day that the the Presiannounced their duty, and that make dent discharged said he had no communication to to Congress at present. THE NEW MEMBERS. a few prominent exceptions, with the the pres- last, With is about on a par so far made for the better, worse, last have ent House been it goes. if In that some were instances possible. but changes in more Con- The for the of the Republican side is out. Judge Hale, of of ablest gress, man seems to be New a gentleman York, deleHis successor ability. The Maryland the last. gation very ordinary is rather an improvement upon RADICAL CAUCUS. Radicals will hold another caueus take into to The night, at the Capitol. to should be morrow the business which sesconsideration by them during the present that the transacted Congress It is believed recess sion questions of of impeachment and of a will be discussed. THE VACANT OFFICES. new nominations will be fill vacancies made by the rejections. The Many President of the Senate Postmaster-Gen to caused by that not less than $2,000,000 are eral states in the hands of clerks of postoffices now destitute of postmasters. ERTY. SUIT FOR RECOV ERY OF CONFISCATED PROPin the Henry B. Tyler, and formerly who, during a Major the war, Marine corps, the Confederate army, commenced has through a served in Brent and Merrick, the posMessrs. John D. Defrees, for suit against west half of Lot 6. in Square session of will the be recollected that the the property war, 445. wa.libelled It by the Court during the life inunder the confiscation act, to the deand, the plaintiff was sold the first terest of This is believed to be and it will suit fendant. of the kind instituted here, be an interesting case. Washington, March 6. CONGRESS. houses adjourned to-day, about half o without ap past of importance. anxious Both business 12 clock, having Members transacted to any restless, and pear to be growing the citv. either by a recess or get away adjournment from The question, the caucus however, this un will probably be settled relative by strength of the advocates evening, when and the opponents of the impeachment scheme will be tested. THE TARIFF BILL friends of the tariff bill are the anxious ComThe it, but in the absence of such action to revive Ways and Means, that mittee of good. It is quite likely until would the whole do no subject will be postponed the next regular session. VOTE FOR CHAPLAIN. The Globe THE of this morning says that Rev.

10. June 11, 1867 The Evening Telegraph Philadelphia, PA

Article from The Evening Telegraph, June 11, 1867

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FAILURES OF NATIONAL BANKS. - The following is a list of National Banks that have failed, and are now in the hands of receivers, with the amount of circulating notes issued to each:The First National Bank of Attica, New York, $45,000; the Merchants' National Bank of Washington, D. C., $180,000; the Venango National Bank of Franklin, Pa., $85,000; the Tennessee National Bank of Memphis, Tenn., $90,000; the First National Bark of Newton, Mass., $130,000; the First National Bank of Selma, Ala., $85,000; the First National Bank of New Orleans, La., $180,000. In addition to these, two banks have taken up their bonds and deposited lawful money in the Treasury of the United States to the amount of their outstanding circulation, viz. : - The First National Bank of Carondelet, New Orleans, $25,500; the First National Bank of Columbia, New Orleans, $11,990, making a total of $832,490, which has reverted to the Government, upon the return and destruction of which an equal amount of circulation will be at the disposal of the Comptroller of the Currency for distribution, according to the terms and conditions prescribed in the National Currency act, subject to the same rules that governed the distribution of the amount originally authorized by the act of Congress.

11. June 11, 1867 The New York Herald New York, NY

Article from The New York Herald, June 11, 1867

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Steward. Cornelius Vanof Smith Barker, Jr., and John H. Vanderbilt, Vice derbilt was re-elected President, W. ary. President, and Augustus Scheil, Secre banks that have The following is a list of national rs, with the Bive failed and are now in the bands of rec. First Na. amount of circulating notes issued to eac National, tional, Attica, N. Y., $45,000; Merchants FrankWashington, D. C., $180,000; Venango Nationa Tenn., lin, Pa., $85,000; Tennessee National, Memphis, 200; $90,000; First National, Newton, Mass., $130, First National, Selma, Ala., $85,000; First N tional, New Orleans, La, $180,000. In addition to these two banks have taken up their bonds and deposited lawful money in the United States Treasury to the amount of outstanding circulation, viz:-First National Carondolet, New Orleans, $25,500; First National Columbia, New Orleans, $11,990-making a total of $832,490 reverting to the government, upon the return and destruction of which an equal amount of circulation will be at the disposal of the Comptroller of the Currency for distribution. The Sub-Treasurer in this city reports:Total receipts $1,465,816 Total payments. $1,563,316 For customs. 229,000 Balance 134,015,419 495,000 For gold notes The Chicago Clearing House statements of the past two weeks compare as follows:Balances. Clearings. $11,540,292 Week ending June 8 $1,002,558 9,207,614 Week previous 992,819 The following is a statement of the value of the imports entered at the port of Boston during the month of May:Value. Species of Goods, Wares and Merchandise. Imports-Dutiable, entered tor consumption $1,411,579 2,544,749 Imports-Dutiable, warehoused $3,956,328 Total paying duty Free 289,188 Total imports $4,245,516 Merchandise withdrawn from warehouse for $1,727,877 consumption The earnings of the undermentioned railroads during May of this and last year compare as follows:1867. 1866. $329,078 $316,432 Toledo, Wabash and Western 365,196 333,952 Michigan Central Cleveland and Toledo 210,783 180,675 51,710 55,133 Virginia and Tennessee Atlantic and Great Western 451,447 459,370 A St. Louis journal says:or the notes of the old "Bank of the State of Missouri, " which went out existence in 1857, and whose currency was barred in 1860, there 18 still afloat about $60,000 worth. The now existing Bank of the State of Missouri, lately organized as the "National Bank of the State of Missouri" agree to redeem this issue together with all of their own afloat, now amounting to about $50,000. The receiver of the Cataract City Bank of Paterson, N. J., notifies holders of the notes of that bank that all such notes must be presented for redemption to the Treasurer of the State of New Jersey, at Trenton, on or before November 30, 1867, and that holders and owners thereof who fail to present the same will be barred from all right to have the notes redeemed.

12. June 15, 1867 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN

Article from Memphis Daily Appeal, June 15, 1867

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BANKS. TENNESSEE 90 Merchant's Bank Bank of Chattarooga10 Ocoee Memphis par Planters' Middle Tenn90 20 Southern Tenold is'se..35 40 SO W. Tenn Shelbyville 50 90 Traders' City B'k Nashville Union Commercial Bank par In Canada there are seventy-three yield gold mines, employing 708 miners. The is valof gold for the last three months ued As at an $690,955. illustration of the rapidity with of which the conversion and purchases the seven-thirty notes have been pushed forward it is officially reported that$151, have been taken in by the treas746,600 ury department during the four months ending June 1st. The reports in circulation that the sec- of of the treasury and comptroller of the retary currency are connected with any of efforts whereby the circulation suspended the banks is returned, and new circulation issued to the banks returning are officially denied. The comptroller it, of the currency regards all circulation or retire in the same light as new he circulation, and whenever has unlessed a margin unissued, he will distribute it according to the merits of the applications on file, without regard to who may return the circulation. If parties purthe circulation of retired banksaue they do it at a knows no and chase premium the comptroiler their of entitles own way risk, no of preventing it but that fact in the to any special privilèges new circulation. The national banks that is issue party list of of have receivers, following failed and a now in the hands of are the amount of circulating notes with to each: The First National bank issued Attica, N. Y., $45,000; the Merchants' of National bank of Washington, D. C., the Venango National bank of $180,000; Franklin, Penn., $85,000 the Tennessee $90,National bank of Memphis. Tenn., the First National bank of Newton, 000; Mass., $130,000; the First National bank NaSelma, Ala., $85,000; the First tional of bank of New Orleans, La., banks $180,addition to these, two up their bonds and in the treasury 000. have lawful taken In money deposited to of the the of the United States amount treasury of their outstanding circulation, The First National bank of Caron- First delet, viz: New Orieans, $25,500; the National bank of Columbia, New Orleans. $11,990, making a total of $832,490, which has reverted to the government, upon the return and destruction of which be at equal amount of circulation will an disposal of the comptroller of curthe for distribution, according to the the rency terms and conditions prescribed in national currency act, subject to the rules that governed the distribution by of same the amount originally authorized the act of congress. It has been reported that ex-President Jefferson Davis lost some money which of he was supposed to have in the hands Trenholm & Co. This error. He Frazer, had no funds on deposit with that upon the collapse of the ConMr. Judah Benjamin firm on account of from federacy, firm. the But, the procured Coufedt erate funds, a bill for twelve thousand t dollars in gold, which was duly paid. had received his salary in paper, and the sum for him as a partial cured Confederate Mr. Davis remuneration thus was se1 for the loss of depreciated paper strictly due. It is true, however, that a other members of the Confederate government were not so fortunate ( S The New Orleans Picayune of Tuesday Suit has been instituted in the p says: United States district court by Messrs. f George Soule and others, depositors in c the Bank of Commerce, of this city, o forcing the proprietor, Mr. Jacob Barker, bankruptcy. o Judge Dureil granted, upon the appliof an order to the States marshal, to cation United petitioners, directed seize the S property and effects of the defendant, the to be held subject to further orders of b ti b court. This is the first case either of voluntary or involuntary bankruptey in this in state under the operation of the new bankrupt law. a The showery character of the weather 4 made business more quiet than usual today. Very little was done in the way of S shipping, either by rail or river, Tomorrow, being the regular time for the ol departure of some of our local packets, will no doubt show a improvement. gi COTTON-The same remarks and to quotationsgiven yesterday would answer th very well for to-day. There is the very same firmness and the same difference W n the views of operators. Sales of about of 00 bales were reported to us, of mixed T ots. Receipts for the past 24 hours were 9 bales. No shipments.

13. June 15, 1867 The Tri-Weekly Standard Raleigh, NC

Article from The Tri-Weekly Standard, June 15, 1867

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FAILURES OF NATIONAL BANKS-The following is a list of national banks that have failed and are now in the hands of receivers, with the amount of circulating notes issued to each : The first National Bank of Attica, N. Y., $45,000; the Merchants National Bank of Washington, D. C., $180,000; the Venango National Bank of Franklin, Penn., $35,000; the Tennessee National Bank of Memphis, Tenn., $90,000; the First National Bank of Newton, Mass., $130,000; the First National Bank of Selma, Ala., $85,000; the First National Bank of New Orleans, La., $180,000. In addition to these, two banks have taken up their bonds and deposited lawful money in the Treasury of the United States to the amount of their outstanding circulation-viz.: The First National Bank of Carondelet, New Orleans, $25,500; the First National Bank of Columbia, New Orleans, $11,990; making a total of $832,490 which has reverted to the Government; upon the return and distruction of which an equal amount of circulation will be at the disposal of the Comptroller of the Currency for distribution, according to the terms and conditions prescribed in the national currency act, subject to the same rules that governed the distribution of the amount originally authorized by the act of Congress.New York Times.

14. June 19, 1867 Public Ledger Memphis, TN

Article from Public Ledger, June 19, 1867

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Failures of National Banks. The following is a list of National Banks that have failed and are now in the hands of the receivers, with the amount of circulating notes issued to each: The First National Bank of Attica, New York, $45,000; the Merchants' National Bank of Washington, D. C., $180,000: the Venango National Bank of Franklin, Penasylvania, $85,000; the Tennessee National Bank of Memphis, Tennessee, $90,000; the First National Bank of Newton, Massachusetts, $130,000; the First National Bank of Selma, Alabama, $85,000; the First National Bank of New Orleans, Louisiana, $180,000. In addition to these, two banks have taken up their bonds and deposited lawful money in the Treasury of the United States to the amount of their outstanding circulation, viz: The First National Bank of Carondelet, New Orleans, $25,000; the First National Bank of Columbia, New Orleans, $11,990, making a total of $832,490 which has reverted to the Government, upon the return and destruction of which an equal amount of circulation will be at the disposal of the Controller of the Currency for distribution, according to the terms and conditions prescribed in the National Currency act, subject to the same rules that governed the distribution of the amount originally authorized by the act of Congress.

15. June 19, 1867 The Weekly North-Carolina Standard Raleigh, NC

Article from The Weekly North-Carolina Standard, June 19, 1867

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FAILURES OF NATIONAL BANKS- The following is a list of national banks that have failed and are now in the hands of receivers, with the amount of circulating notes issued to each : The first National Bank of Attica, N. Y., $45,000; the Merchants National Bank of Wash ington, D. C., $180,000; the Venango National Bank of Franklin, Penn., $35,000; the Tennessee National Bank of Memphis, Tenn., $90,000; the First National Bank of Newton, Mass., $130,000; the First National Bank of Selma, Ala., $85,000; the First National Bank of New Orleans, La., $180,000. In addition to these, two banks have taken up their bonds and deposited lawful money in the Treasury of the United States to the amount of their outstanding circulation-viz.: The First National Bank of Carondelet, New Orleans, $25,500; the First National Bank of Columbia, New Orleans, $11,990; making a total of $832,490 which has reverted to the Government; upon the return and distruction of which an equal amount of circulation will be at the disposal of the Comptroller of the Currency for distribution, according to the terms and conditions prescribed in the national currency act, subject to the same rules that governed the distribution of the amount originally authorized by the act of Congress.New York Times.

16. June 20, 1867 Baton Rouge Tri-Weekly Gazette & Comet Baton Rouge, LA

Article from Baton Rouge Tri-Weekly Gazette & Comet, June 20, 1867

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LIST OF SUSPENDED NATIONAL BANKS.-The following is a list of national banks that have failed are now in the hands of the receiver, with amount of circulating notes is sued to each : First National Bank, Attica, New York, circulation $45,000; Merchants' National Bank Washington, D. C., $150,000; Venango National Bank Franklin, Pa., $85, 000; Teonessee National Bank, Memphis, $90,000; First National Bank, Newton, Mass., $130,000; First National Bank, New Orleans, $180,000. In addition to these, the First Na. tional of Carondelet, Missouri, with a circulation of $25,000, and First National of Columbia, with a circulation of $11,990, have taken up their bonds and deposited lawful money in the United State Treasury to the amount of their outstanding circula tion. Here is an aggregate of $832,490 which has reverted to the Government, upon the return and destruction of which an equal amount of circulation will be at the disposal of the currency for the currency for distribution according to the terms and conditions prescribed in the National Currency act, subject to the same rules as governed the distribution of the amount originally authorized by Congress. Banks Without Circulation.-Quite a number of national banks have been organized, to which the Controller has not yet given any circulation because the amount provided for by law is already out, and there are many others that have received only part of the amount to which they would, un der other circumstances, be entitled. There is a pressing demand for more currency west of the Mississippi, and more particularly in Kansas, which he is anxious to meet, and he will do 80 as soon as a sufficient amount of these broken banks have been restored.

17. July 19, 1867 The Jasper Weekly Courier Jasper, IN

Article from The Jasper Weekly Courier, July 19, 1867

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NO. 23. The following is a list of Na. tional Banks that have failed, and are DOW in the hands of receivers, with the amount of circulating notes issued to each:-First National, Atica. New York, $45,000; Merchants' National, Washington, D. C., $180,000; Venango National; Franklin, Pa., $85,000; Tennessee National, Memphis, Tenn., $90,000; First National, Newton, Mass., $130,000; First National Selma, Ala., $85,000; First National New Orleans, La., $180,000. In ad dition to these, two banks have taken up their bonds, and deposited lawful money in the United States Treasury to the amount of outstanding circulation, viz: Firat National, Columbia, $11,990-making a total of $832. 490 reverting to the Government, upon the return and destruction of which an equal amount of circulation will be at the disposal of the Comptroller of the Currency for distribution.

18. August 1, 1867 New-York Tribune New York, NY

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The receiver of the First National Bank of Newton, Mass., Dr. D. W. Jones, has been engaged since the suspension of the institution, after its connection with the State-st. irregularities at Boston, in collecting its liabilities, and forwarding the amount to Boston. The discount notes foot up to $110,000, and of this amount $90,000 has been collected: Half of the balance, or $10,000, is considered good, and the other half doubtful or bad. the $2,500 of paper forged by William H. Lane being included in the latter category. The stockholders of the bank will meet at Newtonville to-morrow, to consider the present condition of affairs, as the bank must be resurrected, If at all, within the next 20 days. It is proposed, even If its affairs are wound up, to resist the payment of the checks obtained through the cashier, E. P. Dyer, Jr.

19. August 15, 1867 The Evening Telegraph Philadelphia, PA

Article from The Evening Telegraph, August 15, 1867

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The Affairs of Mellen, Ward & Co., of Boston. BOSTON, Mass., August 14.-The creditors of the late firm of Mellen, Ward & Co., of this city, held a meeting to-day, at which the follo wing claims were allowed by the Insolvency Court:James Pryor, Leicester, $2095; Chas. T. Yerkes, Jr., & Co., Philadelphia, $2006; First National Bank of Marlboro, $5416; E. Jones & Co., $3583; Deming J. Hastings, West Medway, $457, D. B. Livermore, $1093; George H. Ward, Newton, $495: Brood & Ward, Boston, $202. All the above amounts, with the exception of the second, were placed with Mellen, Ward & Co., on deposit. D. W. Jones, Receiver of the First National Bank of Newton. which suspended on account of the failure of Mellen, Ward & Co., presented a claim of $17,350, but it was not allowed. The further hearing of the case was then adjourned.

20. August 15, 1867 The New York Herald New York, NY

Article from The New York Herald, August 15, 1867

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THE AFFAIRS OF MELLEN, WARD & CO., OF BOSTON. [From the Evening Telegram.] BOSTON, Mass., Aug. 14, 1867. The creditors of the late firm of Metten, Ward & Co., of this city, held a meeting to-day. at which the rollowing claims were allowed by the Insolvency Court:James Pryor, Leicester, $2,095; Charles T. Yerkes, Jr., & Co., Philadelphia, $2,006; First National Bank of Mariboro, $5,416; E. Jones & Co., $3,583; Deming J. Hastings, West Medway, $457; D. B. Livermore, $1,093; George H. Ward, Newton, $495; Brood & Ward, Boston. $202. All the above amounts, with the exception or the second, were placed with Mellen, Ward & Co., on deposit. D. W.° Jones, Receiver of the First National Bank, of Newton, which suspended on account of the failure of Melten, Ward & Co., presented a claim of $17,350. but it was not allowed. The further hearing of the case was then adjourned.