Article Text
CALIPORNIA. SAN FRANCISCO, May 18.-The Dime Savings Bank of Sacramento has suspend ed. It proves to have been a shaw affair, Deposits about forty-five thousand; assets stock at nominal value about ten thousand, but worth much less.
856. Dime Savings Bank (Sacramento, CA)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- savings bank
- Start Date
- May 18, 1878
- Location
- Sacramento, California (38.582, -121.494)
Metadata
- Model
- gpt-5-mini
- Short Digest
fbe58561557ff843
Response Measures
None
Description
Multiple contemporaneous newspaper dispatches (May 18–20, 1878) report the Dime Savings Bank of Sacramento suspended as a sham concern run by Joseph Davis & Co., never incorporated, with deposits ≈$45,000 and assets far less. No run is described; articles report arrests and fraud, implying permanent closure.
Events (1)
1.
May 18, 1878
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Revealed to be a fraudulent/sham institution (never incorporated), run by Joseph Davis & Co. in connection with a pawnbroking business; assets far short of deposits; arrests made.
- Newspaper Excerpt
- The Dime Savings Bank of Sacramento has suspended. It proves to have been a sham concern, never having been incorporated ... conducted by the firm of Joseph Davis & Co.; deposits about $45,000; assets about $10,000, but worth much less.
- Source
- newspapers
Newspaper Articles (10)
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Swindling Savings Institution. SAN FRANCISCO, May 18.-The Dime Savings bank, of Sacramento, has suspended. It proves to have been a sham affair, never incorporated, as supposed to be, but run by the firm of Joseph Davis & Co., in connection with the pawnbroking business. Deposits about $45,000; assets, stocks to the nominal value of about $10,000, but worth much less. A great portion of the depositors are children, and much indignation is manifested.
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The Dime savings bank of Sacramento, reported suspended yesterday, turns out to be a fraudulent concern, without a charter, and but a mere pawn-broker's shop. A great proportion of its depositors are children, and much indignation is manifested in consequence of the glaring swindle.
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SAVINGS BANK SUSPENSION. SAN FRANCISCO, May 18, 1878. The Dime Savings Bank of Sacramento City has suspended. It proves to have been a sham concern, never having been incorporated as the public supposed. It was conducted by the firm of Joseph Davis & Co., in connection with a pawnbroking business. The deposits amounted to about $45,000. The assets consist of stocks of the nominal value of $10,000, but worth much less. The greater portion of the depositors were children. Much indignation 18 manifested against the swindlers.
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A SAVINGS BANK SWINDLE. SAN FRANCISCO, May 19.-The Dime Savings Bank of Sacramento City has suspended. It proves to have been a sham concern, never having been incorporated. It was conducted by the firm of Joseph Davis & Co., in connection with a pawn-broking business. The deposits amounted to about $45,000. The assets consist of stocks of the nominal value of $10,000, but worth much less. The greater portion of the depositors were children. Much indignation is manifested against the swindlers.
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THE MEANEST BANK SWINDLE YET.-The Dime Savings Bank of Sacramento, Cal., has suspended. It proves to have been a sham concern, never incorporated, and conducted in connection with a pawnbroking business. The deposits amounted to $45,000, the assets less than $10,000. Most of the depositors were children, and much indignation is manifested against the swindlers.
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North Star, Seattle. Sailed, schooner Western Home, Victoria. SAN FRANCISCO, May 18. - Flour dull; extra 6f@6%. Wheat inactive; good to choice milling 2@205. Three ships chartered, and inquiring for export. Barley dull and unchanged; feed 95 @100, brewing 112}@115. Oats steady; light 1324@1374 heavy 1423@1474. strictly choice 155@160. Corn inactive; large yellow 1f. small 175, white 11. Hay unchanged. Potatoes, old choice 3@31, new 3}@ 41/4. Weol unchanged, SAN FRANCISCO, May 18-At Charter Oak Hall this evening the Kearneyites appointed Kearney as President of the Executive Committee; Wellock, VicePresident; H. M. Moore, Secretary, and Thos. Donnelly, Treasurer. Wellock was also appointed State Lecturer and General Organizer. Harry George appeared before the convention and urged his claims to nomination as delegate to the State Convention. He refused, however, to endorse Kearney or any party which was not received in good part by the convention, and no action was taken in his case. The committee on the platform appointed a committee on constitution, consisting of C. T. Botts, and George Thorn, of Alameda; L. J. Morrow, of San Joaquin, nominee for the Constitutional Convention from the Second Congressional District; and O. T. Chubb, Isaac Bicknell, D. A. Devilen, B. Pilkington and James T. Breen, for the Fourth Congressional District. The obligation pledging the candidates to sustain the principles of the party and resign when requested, was adopted. The convention adjourned till 9 A. M. to-morrow. SAN FRANCISCO, May 18- Jasper McDonald, a prominent operator in stocks and one of the officers of the Day Silver Mining Company, has sued J. J. Jackson and the Evening Post for libel, laying the damages at fifty thousand dollars. The suit is based on an article published in the Post of the 15th, relative to a meeting of dissatisfied stock holders of the Day mine. The Diem Savings Bank, of Sacramento, has suspended. It proves to have been a sham affair, never incorporated as supposed, but run by the firm of Joseph Davis & Co., in connection with a pawn broking business. Deposits amount to about forty-five thousand dollars. The assets are stock to the nominal value of about ten thousand dollars, but worth much less. A great portion of the depositors are children. Much indignation is manifested. SACRAMENTO, May 18.-Davis and Marcus, of the Dime Savings Bank, have been arrested on a charge of oi). taining money under false pretences. SAN FRANCISCO, May 18-Alpha, 8f; B and B 133; Belcher, 210; Bullion, 345; Consolidated Virginia, 12%; Chollar, 251; Julia, 61; Mexican, 8%; Ophir, 33}; Overman, 8; Imperial, 70; Point, 315; California, 21/4; Caledonia, 165; Exchequer, 220; Hon. 5%; Justice, 435; Kentuck, 21; Savage. 95; South Nevada, 305; Utah, 71/2; Union, 325; Jacket, 7t. SAN FRANCISCO, May 18.-Arrived -ship Coquimbe, Port Madison; bark Dublin, Seabeck; bark Penang, Departure Bay.
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on th penditures of their executive departments. session THE SENATE in the treaty between 15th instant, ratified United States, providing France and the at Paris the present of met for convention view to the adoption measures. mer, rical system with of weights and THE WEST. Missour gran THE fortieth session was of the held at St. Louis reve lodge of Odd Fellows membership of 13,050; Reports show a $371,393. arrived $92,580; assets, of the season nue, first new wheat the 20th, from near Dallas, Tex. at THE St. Louis, It Mo., graded on No. 4 and sold anction THE Sale at $1.25. Francisco committee chamber to of aid commerce in secur has appointed a treaty with of France. Sacrament ing a commercial Dime Savings Bank to have been has busiTHE suspended. affair, never It incorporated proves of Joseph Davis supposed & Co $45,000; sham but run by the with firm a pawn-broking assets, in connection The deposits value about of about $10,000, of ness. the nominal A great portion stocks to much less. Much indig the but depositors worth are children. the is manifested. Esq, proprietor of nation DANIEL WILCOX, and one time Janesville Quincy (III.) Milwaukee Whig, Sentinel and the 19th ed with Gazette, the died at Quincy on conconventions the inst. BOTH workingmen's at San Francisco delegates on tinued their sessions the country party, 17th. Nine of county committee and the twenty-three refused have joined have the joined Kearney, to affiliate with conBoth remainder have and left the city. to-day, of the anti same tone. either wing, adopted platforms monopoly and cap- will ventions Chinese and Each faction on John ital and an reform independent campaign. the fate of M. a at Binckley of time attorney general carry THE mystery prominent concerning personage, the United and was cleared discovery of his body floating of Wis. States one under up on Johnson's the 17th in inst. Lake by Michigan, the Binck about Milwaukee, the 4th on city severe five disappeared miles south last from that laboring result under of a infelicity at ley inst., and when fit of melancholy, the Chimet agents the 16th, cents. domestic THE trunk line freight and fixed the Seeds rate were on to allowed grain cago to on New be York put at in with fourth class state comcentral have mittee ion on Columbus freight. THE Ohio Democratic issued call for a 26th of June of the branches Ohio ary. AND to ON be held legislature the 15th at inst., adjourned both till next JanuCRIMES CASUALTIES on the occurred the new AN explosion of wing gas of the taken Sydney out dead, Mr. including of men revenue at inst., Halifax in Six Greenwell, men were chief have overseer. just comin Heckman, Perry, Hardin, Nine Tenu. illicit counties, pleted A PARTY a fifteen Wayne, days' Giles raid and distilleries Lawrence several arrests made. of sections West and were A HEAVY Virginia destroyed hail on and storm the 20th visited inst., doing Austrian much on the 20th. damage. Corning, Cowanesque Corning N.Y., burned $25, railroad THE car-shops Loss at $30,000; insurance, on the 18th inst., of John 000. AT Mitchell men entered Ky., the citizen, house overpowThe populace two white Esq., a prominent and ravished scouring her person. the country. has Groves, ered Mrs. Groves are out been Mass., Pittsfield, of StillMrs. and de17th inst., found TENKYCK. guilty sentenced of of the to murder be hanged, August several stroyed man 16th. A FIRE at Paris, buildings. III., on the Total loss Cedar $16, farmer felling a 000. ON the 15th named inst., Berry, was near by, large trees, his tree fell suddenly, Rapids, Ia., wife and child killing Mrs. Berry to been have hanged 14. until June and JEFF child. Davis, Abbeville who ille, was the 17th, shot was Bobemian, at respited and JOSEPH killed SPARKS, Michael midnight Dewitt, young Dewitt's the 15th an Irishman, inst. body, death. Five one was penetrati Froubles Domestic Chicago, bullets took at the effect heart, on causing the of the bloody deed. on St. the 16th, Tenn., Memphis, was to by fire, destroyed the effects of gether the pupils and and lost. a large Agnes AT academy with a valuable library, portion of the furR. at oil tank Bradburst niture. W. No lives Evans on & Co.'s the night of the 15th the attached Ports Loss ford, 22,000 Pa., barrels. building cotton THE picanufacturing company Me., destroyed loss of by fire on insured. for the mills, mouth in South the Berwick, 15th inst., causing assessors ab$50,000: GEO. F. MILLER, at North clerk Adams, Mass., has of sconded, the poor defaulter. THE have been students recently HARVARD to by college have discovered authorities of before papers knowledge examination of the and two issued, regularly or been have and one class junior expelled two removed. employee and THE polices are of by in fear being armoritelegraph, connected of the editor ISAACS, Jewish Jewish the country, communism. REV. SAMUEL Messenger, S. and died the oldest on the night minister in 74 years. on the estate the for of the 19th, of needministration Orton, Company, of were by LETTERS the late Wm. Telegraph Jr. York, It of Western Union the Surrogate, Wm. Orton, personal to receive three children on applied the 18th the instant, petition $50,000. that the The widow parties and estate is stated does in under not exceed the of will are the
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SUMMARY OF NEWS. Eastern and Middle States John D. Payne, bookkeeper for Alvin J. Johnson & Son, New York publishers, was found to have stolen over $12,000 of funds belonging to his employers and was arrested. In Johnston, R. I., Martin Head, aged sixteen years, fell dead while playing base ball, having burst a blood vessel. At Pittsfield, Mass., the jury in the case of John Ten Eyck, indicted for the murder of Mr. Stillman, brought in & verdict of murder in the first degree, and he was sentenced to be hanged on August 16. The grand jury of New York city has brought twenty-nine indictments against the proprietors of as many establishments -fertilizers, fat renderers, etc.-from which foul odors emanate. At Myersburg, Pa., John Stoever, a respected and trusted citizen, confessed on his death bed that during the past twenty-five years he had been concerned in four murders, giving details and naming his accomplices in crime. A party of young men visited Daniel O'Brien's house in Lowell, Mass., to get liquor, and, upon his refusing them admission, kicked at his door. O'Brien fired upon them, fatally wounding Edward Allen. The daughter of Patrick O'Neal, aged nine years, was fatally burned in the woods in Cumberland, R. I. She was walking with her father, and he threw away a lighted match, which set fire to the dry furze, and the flames caught the child's clothing. The nominees of the National party of Pennsylvania for supreme court judge and lieutenant-governor having declined to run, the executive commitee met in Harrisburg and unanimously nominated Judge Daniel Agnew for supreme court judge and Daniel M. Steck for lieutenant-governor. Edward McKenna, engineer, was fatally injured and two other workmen were seriously hurt by the fall of a huge iron girder which was being hoisted into position on the Elevated railroad in the Bowery, New York. Western and Southern States. Brown Bowen, a noted desperado, was hanged at Gonzales, Texes, for the murder of Thomas Holderman in 1872. A fire at Massillon, Ohio, destroyed a portion of Russell & Co's agricultural works, damaging the property to an amount exceeding $75,000. Over one hundred houses in St. Louis were more or less seriously injured by a heavy wind and rain storm, and a number of persons were injured. The pecuniary damage done reaches $50 000. The Dime Savings Bank, of Sacramento, Cal., suspended, owing $45,000, mainly to children. It proved to have been a sham concern, never having been incorporated. The other day Wheeling, W. Va., was visited by the most disastrous storm of wind and hail known in that section since 1869. Hailstones as large as a hen's egg fell in great masses, breaking thousands of panes of glass and almost totally ruining the fruits and other crops in the vicinity. During two days extremely severe storms also prevailed in various parts of Illinois, in many instances, proving very disastrous. At Petersburg four persons were killed by lightning and many buildings shattered. At Fairbury growing crops were considerably damaged and live stock killed by lightning. Near Quincy bridges were washed away, fruit injured, and wheat beaten down. Near Lincoln two women and a girl were killed, and great damage done by hail. At Odell a hotel was struck by lightning, and the earth SO drenched that planting will be retarded many days. Dispatches from Chatsworth, Springfield. Urbana, Streaton, Cairo, Jacksonville, and other towns in Illinois, represent the storm to be one of unusual severity. Dr. H. Louis, of Fremont, Neb., has been sentenced to be hanged, September 20, for poisoning his wife.
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twenty-three Democrats, comprising all present except Senator Eustis, who withheld his vote. The senate also confirmed Lucius Fairchild, of Wisconsin, now consul at Liverpool, to be United States consul-general at Paris, vice Alfred T. R. Torbert, recalled; Theo. Wagner, surveyor-general of California. BREVET MAJ. GEN. EDWARD HATCH, Wm. Stickney, of Washington, and N. C. McFarland, of Topeka, Kansas, have been appointed commissioners to treat with the Ute Indians. An effort will be made to consolidate the southern and northern Utes on the reservation of the latter, on or near White river. A BILL introduced in the house by Wilson, on the 20th, provides for an election in West Virginia in October, 1878, for representatives in the 46th congress. THE treasury department has had some difficulty in the purchase of silver bullion for coining. Parties owning bullion wanting gold for it, as bullion contains on an average of about sixty per cent. of silver to forty per cent. of gold. The treasury would however pay only in the standard silver dollar. ROBERT PETTIT, pay director, U. S. N died at Washington on the 18th, after a long illness. He entered the navy in 1837. THE WEST. IT now transpires that the man shot by Lyman B. Andrews, at Norris, Michigan, supposing him to be a burglar, was John O'Donnell, a man 70 years of age, living in the suburbs ot Detroit, who mysteriously disappeared recently, while temporarily insane. THE demonstration at Springfield, Ill., on the 23d, on the occasion of the removal of the regimental battle flags of the Illinois regiments from the old arsenal to their new depository in the state house, was quite imposing in numbers and appearance. Representatives of nearly all the regiments were present, as wellas veteransof the Mexican and Black Hawk wars. The attendance was estimated at 20,000. A SEVERE snow storm, followed by warm weather and rains, caused Deadwood and Whitewood creeks to overflow their banks. Several buildings were carried away, with damages amounting to $50,000. THE fortieth session of the Missouri grand lodge of Odd Fellows was held at St. Louis. Reports show a membership of 13,050; revenue, $92,580; assets, $371,393. THE first new wheat of the season arrived at St. Louis, Mo., on the 20th, from near Dallas, Tex. It graded No. 4 and sold at auction at $1.25. THE San Francisco chamber of commerce has appointed a committee to aid in securing a commercial treaty with France. THE Dime Savings Bank of Sacramento has suspended. It proves to have been a sham affair, never incorporated as supposed, but run by the firm of Joseph Davis & Co. in connection with a pawn-broking business. The deposits are about $45,000; assets, stocks to the nominal value of about $10,000, but worth much less. A great portion of the depositors are children. Much indignation is manifested. DANIEL WILCOX, Esq., proprietor of the Quincy (III.) Whig, and at one time connected with the Milwaukee Sentinel and Janesville Gazette, died at Quincy on the 19th inst. BOTH workingmen's conventions continued their sessions at San Francisco on the 17th. Nine of the country delegates have joined the county committee party, twenty-three have joined Kearney, and the remainder have refused to affiliate with either wing, and left the city. Both conventions adopted platforms to-day, of the same anti-Chinese and monopoly and capital and reform tone. Each faction will