8411. National Bank (Baltimore, MD)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
1432
Charter Number
1432
Start Date
March 15, 1867
Location
Baltimore, Maryland (39.290, -76.612)

Metadata

Model
gpt-5-mini
Short Digest
0fa4c919

Response Measures

None

Description

Article (Mar 15, 1867) reports discovery of large, long‑running embezzlement by a teller/cashier (Wentz) at the National Bank in Baltimore; the bank was stopped/closed upon discovery and criminal warrants issued. No explicit mention of depositor run; the cause is bank-specific adverse information (embezzlement). No later reopening or resolution reported in these articles.

Events (3)

1. July 13, 1865 Chartered
Source
historical_nic
2. March 15, 1867 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Large, long‑running peculation/embezzlement by teller/cashier Samuel Wentz (missing about $200,000 to $300,000), false book entries discovered leading to bank being stopped/closed.
Newspaper Excerpt
This was discovery of officers a of the National and Mechanics... He amount immediately bank, closed stopled matter... entries, discovered made. He amount immediately bank, closed
Source
newspapers
3. March 31, 1930 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (2)

Article from The Manitowoc Pilot, March 15, 1867

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Article Text

BANK DEFAL EXTRAORDINARY ST StolThree Dollars Hundred Thousand en from Bank. Baltimore of how The account following Baltimore for the last has Bank been twentyswindled a to of the five and by pair years "ducks," of will one ined give $300,00 amount in are this country, managed March Baltimore and how how Banks rotten they are: American, and unsensa community the From the comparatively startled quiet on Saturday heavy This was discovery of officers a of the National and Mechanicating business tional last by rumors upon of the part Bank: of two well subsequent known community the too rumors proved well depositors in the peculiarly the founded for only the unfortunate comfort of institution be can learned, be to appear bank an concerned. The particulars, that so far Tuesday as inspector, last a United into Mr. investigation Mechanics of located Bank, and Calvert Callender, States commenced of the National east corner the Fayette the false day entries upon discovered the condition on the streets south and during books of the kept foreign accounts of Samuel charge foreign in which and are which was are known suspended in his work banks, 11. Wentz, who He upon his return false keeper. dinner, and his absence had and book went to that during of $210,000, all the business to to the the books, of ferret proceeded entries, discovered made. He amount immediately bank, closed stopled matter the This been of the out the was conthe all when malpractice t H. tinued traced a the paying of peculation over and evidence apparent until pointed SaturdaWentz to teller, as and the was criminals, John years. informed both Rogers, and this system period of of the sus spicions Wentz least back up. be of says Upon evidence being made against full them, confessionalized can system at he ever and and Rogers their statement this since The former been in progress period been of thirty disbeen has in though the bank nothing has years $200,000, back. beyond twenty-se stolen over at predicaHe though admits having somewhat finds worried himself, very grave seems bad of to and ment in which he to no have very and has think he has professes and figures, he made of the up. memory ten-e. He particulars to dates than to what it has use all having been $4, Buhegether, given no further acknowledges at one time by what the taken used $2,000 $6, 000 at another. definitely learned hold of are by and It has not money been but was the got deficiencies covered up by understand foreign the process guilty parties, to have to the been account is of Sufficient supposed amount charging The sum of missing. having Mr. banks. he about of the the guilt cashier of the of one the bank, of the diobtained, with Mr. Caughy, justice affidavit. rectors, made for their hands of into evidence to Cuieman, been and appeared the before the necessary policeman arrest, Hayward, custody which Irv and while procured have warrants placed in once the took them the mag istrate, who little to taken ing, were took here them had before but he entirely counsel, say, would by Wentz stated that he had in explanation. say surprise, Rogers and, remarks. advised counsel, him to and with the sum The until party to action required nothing like justice, each he the give the bail of president in the Rogers grand of $10,000 to await Warneher-in bondsman, law of but bank, who and became to procure jury, the of sent Michael being for unable his long bail, been was Wentz, to jail. parties having 1.0 the em last of these bank, and up of their forty- five Rogers, one of the of Turner of age, celebrated.case was about from ployers. week ployed Both enjoyed in the the convictment who confidence case is principal twenty wit and the in who with an is a at No. living in nearly institution. as 575 propriating of of but family was Birch, indicative the of emberry He resided and extravagant street. moderate style and his ill neatly nothing grain. with large a house of at No. 337 his and gotten rixty years, lived in furnished, nothing in to ekeptical led lifetime hand wou with a people. other as a a familiations, conduct West Lafayette that forghui have street, his the He lavish prominent he plain had the and regular scarcely ever been funds of and was of his at the bank. ousiness and man in of the teacher, the routine parties are very connected, respect of such member of Both their con- serand crime detection fall with crushing and character upon families respective friends. as is the one of The regarded robbery of time most length thiswhich untinued a ran series probably, longer


Article from Yorkville Enquirer, April 18, 1867

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Article Text

A TALK IN THE GOLD.ROOM. On Wednesday, George Francis Train, Esq., in a-casual visit to the goldwoom, was called on for speech upon the finances and upon expansion of the currency, and responded as follows In 1860, we had recovered from the financial panic of 1857, and had not commenced the panic of rebellion and of war. Prosperity all over the land; five million bales of cotton on a thousand plantations five million tons of shipping on every ocean agriculture well to do manufacturers prosperous; banks and insurance companies paying good dividends; railroads succeeding the petroleum wells just being developed sixty millions of gold sent us annually from the Pacific mines; the stock market giving a harvest to the brokers (applause)-t dry goods merchants making money; in short prosperity all over the land, and yet done on a currency of two hundred and fifty millions. (Applause That s so. Now, then, for another picture five million tons of shipping wiped off the sea by England's neutrality no five millions of cotton in the South three hundred millions sunk in petroleum; the gold mining companies played out. (Laughter. I mean that the inventor who confidently put his $10,000 in Colorado, Idaho, Montana and Nevada, has never seen his money. "That S 80. Where there plenty of quartz there are no stamps, no mills-and where there are plenty of mills there is quartz. (Applause and laughter. Agricultural products are not doing well. The cropshave not been flourishing-woolen and other manufactories are suspending payment Insurance companies are fail ing. Steamship property is dying out. The rot tenest security in the street is your so-called giltedged paper The rich men are all poor. They are first to call their loans. Those patriotic Radi cals who put their money in Southern cotton plantations, have planted it there forever. (Laughter. The West is not paying up promptly The South have nothing to pay. The bonded warehouses are full of foreign goods not yet paid for. The country is stocked with merchandise. The gold market as you see it (loud laughter) fifty millions sunk in the stock exchange, that financial Morgue of the land-(laughter) January in short, paralysis everywhere-the dry rot in Wall street is the new case-brokers -nobody pay ing expenses-chec exchanged to show lifeloans on business doing industrial enterprises going on-no confidence anywhere, and all this. an expansion of one thousand millions -make your own inferences gentlemen (sensation) I go of yes) another point When the old banking companies of England or ganized under the Limited Liability act, they were all or most of them insolvents as instanced by Overend, Gurney & Co. Our old banks were in the same position when Mr Chase, the largest head, the longest head of his party, created the national system/ Presi dent. (Applause.) You remember he put his handsome photograph on the one dollar notes to circulate among the people. (Laughter.) Our national banks, like the English Limited Liability act, were the salvation of most of the rot ten banks of the country (Sensation.) Take their loans this time last year, 1866-five hundred millions. Take them now, 1867-six hundred and twenty millions. Of course, I said. as they have increased their loans, they have added to their cap ital only twenty five millions. I. found, leaving one hundred millions more now than when expand ed last year. What is this loaned on On Erie at 90, Northwestern at 80. Cumberland coal at 70 Pacific Mail at 180 and Pork at 30. (Laughter The last panic was peculiar usually we outsiders caught it. This time you insiders got cleaned out (Applause and "that so. Men who had accumulated their two hundred to five hundred thous and dollars in small sums these last few years, bu ried it all in the Greenwood Cemetery of the Stock Exchange. The Comptroller is abroad he is af ter the delinquents 1,700 of these institutions are in a flurry already the big loans are called in, and the street will feel the shock within a week The recent national bank failures in Washington, Bal timore, Oil Wells, Newton, Hudson, Boston and Nashville, are only the pimples, the slight erup tion on the skin, that tells the experienced eye the painful disease that is struggling within. (Applause.) These banks were established on a ten per cent margin, $100,000 bonds gave $90,000 notes. This margin is lost, and 23 per cent. more, showed by the loan account, one hundred million more than last year. (Sensation.) When the country understands this they will sell governments. Then look abroad. Five hundred millions of our securities in Europe on all-nomi nally held at 9 per cent. in gold, while the rottenest securities in the old world, 3 per cent.British Consolsare selling at 91. That shows how little they think of our bonds. They are simply deposited there and drawn against-a simple ky tering operation, which you understand (Laughter.) When you want to see what is going to happen abroad, look at the never failing barometer down there in the southeastern part of Europe, the Eastern question. All say peace, yet five millions of breech-loaders, of needle- guns. are being made When war breaks out. as likely in London or Paris as in Greece or Turkey, back come the bonds Send home, not $500,000, but 20,000,000, and the dozen international bankers will rush to the government slaughter-house to sell, and the amount will soon be exaggerated to $200,000,000. Suppôse they meet there some of the liquidating national bank bonds, and other frightened holders of the bonds, all rushing to sell ho is going to buy? Shall I go on (Cries of "Yes. ') Remember that the loan was taken up on margins We subscribed $10,000 and borrowed $9,500 and kept the mill going all day, making the man with $10,000 capital, talk and act like the millionaire. The public is a bull on governments only when above par-when below par they are bears. Let governments drop to par, and down they go to 89. Then national bank notes are 1 per Exdiscount Then comes the rush on national banks for green backs. (Sensation. What is the result Does Congress help us No-tl lawyers power; what do they care ? They add $400,000,000 to the debt. and advance their own salaries $5,000 Is the South to be admitted under the military bill? Stevens holds the reins; confiscation is the order. The estates are to be cut up among the Germans, and the negroes wiped out. Where are we floating ? Congress sees McCullough has made a mistake, and as it is an administration blunder. the Radicals intend to pass no bill of relief. They will pinch the country this year, and bring on a financial crash in the fall -(remember this is the panic year of the failing screws) -lay it on is the administration policy, and when everything the winter and