Wilkinson & Company (Syracuse, NY)

Episode Information

Episode UID
8819495591020
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
881949559 hash
Start Date
December 10, 1884
Location
Syracuse, New York (43.048, -76.147)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
c9b54de72f46d759

Response Measures

None

Description

Criminal charges/indictments against the principals followed the assignment.

Events (2)
1. December 10, 1884 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Persistent bad investments and heavy losses (iron trade failures, large bad discounts) left assets far short of liabilities and forced assignment.
Newspaper Excerpt
The private banking house of Wilkinson & Co. assigned to-day.
Source
newspapers
2. December 20, 1884 Receivership
Newspaper Excerpt
Charles E. Hubbell, Assignee of Wilkinson & Co., bankers, has filed his bond; the schedule of their assets and liabilities is as follows:
Source
newspapers

Newspaper Articles (13)
1. December 11, 1884 The Daily Cairo Bulletin Cairo, IL
Article from The Daily Cairo Bulletin, December 11, 1884

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Money and Stock Market NEW YORK, December 10.-Money, 14@2 per cent; Exchange quiet; Governments strong; currency 68, 126 bid; 48, coupon, 123 % bid; 4368, do., 113% bid. Stocks opened firm and so continued during the first half hour, prices recording a fractional advance. About the first call there were rumors on the street of the impending failure of LA large banking firm in Syracuse. This caused considerable excitement on the board which was followed by a pressure to sell some leading speculative stocks, especially Lacka. wanna, St. Paul and Lake Shore. The report had hardly reached the street when it was verified by a dispatch from Syracuse announcing the assignment of Wilkinson & Co. This increased the selling, and together with the bear hammering caused prices to break ½ to nearly 3 per cent., the lowest quotations being touched shortly after mid-day. Since noon there has been a fractional recovery, but the feeting is.sthl weak and unstttled.,

2. December 11, 1884 Morning Journal and Courier New Haven, CT
Article from Morning Journal and Courier, December 11, 1884

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GONE DOWN IN THE WHIRL. A Private Banking House At Syracuse Goes Under. SYRACUSE, N. Y., Dec. 10.-The private banking house of Wilkinson & Co. assigned to-day. Rumors affecting the stability of the firm have been in circulation for some days and have had the effect to prepare the community for the announcement. Notwithstanding this the closing of their doors created a deep feeling of anxiety which was continued by the inability to ascertain the exact state of the firm's affairs. The preferences are over $98,000, of which the city of Syracuse is credited with $21,228.63, Onandaga county $45,520.79, the American Co-operatiue Relief association $5,176.28, the New York State asylum for idiots and the custodian asylum at Newark $12,704.94, the Syra cuse water company $9,952.26. The amount on deposit belonging to the city is covered by the preferences, as is also the amount due the county of Onondoga. The preferences cover all amounts due charitable institutions and all trusts. The liabilities of the firm will aggregate from $400,000 to $500,000. This includes $345,000 which is due to depositors, of which amount $297,000 is on individual deposits. The assets, which consist mainly of discounted paper, amount to $74,023.80, of which $20,000 is considered worthless. It is probable that the total assets will not aggregate over $140,000. If this be the case the depositors will stand a slim show of getting their money. Among the number of Syracuse firms interested are Loos, Kauffman & Co., Stearns & Co., Hawkins & Goodrich, M. Briton & Co. and Andrews Brothers. None of these deposits exceed $8,000. The embarrassment of the Wilkinsons dates back about a year and a half when bad investments began to trouble them. This weakness has continued and was intensified by the depression in the iron trade and the failure of iron mills some weeks ago. The losses in stock are said to have been $60,000 and the liability on account of iron mills is $58,000. The Metropolitan bank was their New York correspondent upto the time of that bank's failure, then th Chemical bank and E. K. William became correspondents and have so remained. nothing could be ascertained in regard to tiese relations. At the clearing house it was aid the Wilkinsons cleared satisfactorily 1st night and as far as known nothing is o ed the Syracuse banks by them.

3. December 11, 1884 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, December 11, 1884

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Failure of Wilkinson & Co. SYRACUSE, N. Y., Dec. 10.-The firm of Wilkinson & Co., bankers, which assigned to-day, was composed of J. Forman Wilkinson and Alfred Wilkinson. They had been established over twenty-five years, and were generally regarded as successful. They owned some of the most valuable and productive real estate in Syracuse, and although the elder brother is understood to have speculated heavily in Wall street the past two years, confidence in the firm was unshaken, and they were considered worth from $300,000 to $400,000. The firm also owns the dry goods stock of S. D. Richardson, of Syracuse. Alfred Wilkinson was a member of the wholesale iron and steel firm of Parkhurst & Wilkinson, of Chicago. The failure, is thought to involve about $400,000. The assignment prefers $98,600, including city and county deposits and trust funds. The depositors embrace many farmers, attracted by the offer of four per cent. interest. But few business firms are involved. The assets will a little more than pay the preferences.

4. December 12, 1884 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, December 12, 1884

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One Brick Knocks Another. STRACUSE, N. Y., Dec. 11.-Wescott & Co., brokers, made a general assignment. The Buffalo branch of the same firm is included. The Utica branch dissolved partnership yesterday. Alfred Wilkinson, of Wilkinson & Co., bankers, who suspended yesterday, was aspecial partner of Wescott. Wescott & Co.'s preferences amount to $52,000, $30,000 being to R. P: Flower, of New York, for (promissory notes and moneys loaned. Their assets are estimated at $15,000. SYRACUSE, N. Y., Dec. 11.-Spencer D. Richardson, dry goods, assigned this afternoon. Liabilities $60,000, of which $50,000 is dne to Wilkinson & Co., the failed bankers. Preferences$52,000.

5. December 12, 1884 Seattle Daily Post-Intelligencer Seattle, WA
Article from Seattle Daily Post-Intelligencer, December 12, 1884

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Another Fatture at Syraense. SYRACUSE (N. Y.), Dao. 11.-Westoott & Co., brokers. Have made a general sssignment. The Baffalo branch of the same firm is included ; the Ution branch dissolved partnership yesterday. Alfred Wilkinson, of Wilkinson & Co., bankers, who suspended yesterdav. was & special partner. Westcott & Co.'s preferences amount to $52,000-$31,000 to Roswell P. Flower of New York on a promissory note for money loans. The liabilities are estimate d at $100,000. in fews

6. December 12, 1884 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, December 12, 1884

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Article Text

Another Failure at Syracuse. SYRACUSE, N. Y., Dec. 11.-Westeott & Co., brokers, have made a general assignment. The Buffaio branch of the same firm is included; the Utica branch dissolved partnership yesterday. Alfred Wilkinson, of Wilkinson & Co., bankers, who suspended yesterday, was a special partner of Westcott's. Westcott & Co.'s preferences amount to $52,000. $30,000 of which is due to Roswell P. Flower on a promissory note for money loaned. The liabilities are estimated at $60,000. Spencer D. Richardson, dealer in dry goods, assigned this afternoon. Liabilities $600,000, of which $50,000 is due to Wilkinson & Co., the failed bankers; preferences $52,000.

7. December 12, 1884 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, December 12, 1884

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# Down They Go. SYRACUSE, N. Y., December 11.—Wescott & Co., brokers, have made a general assignment. The Buffalo branch of the same firm is included. The Utica branch dissolved partnership yesterday. Alfred Wilkinson, of Wilkinson & Co., bankers, who suspended yesterday, was a special partner of Wescott. Wescott & Co's preferences amount to $52,000-$30,000 to Roswell P. Flower, of New York, and a promissory note, moneys and loans. The liabilities are estimated at $100,000.

8. December 18, 1884 The Bad Lands Cow Boy Little Missouri, Medora, ND
Article from The Bad Lands Cow Boy, December 18, 1884

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Miscellaneous News Notes. The week's failures numbered 316 against 296 the week previous. An artesian well at White Plains, Nev., has reached a depth of 2,100 feet, or more than one-third of a mile. Senator Hill of Colorado says if Secretary Teller is the author of the stories against him, he is an infamous liar. The "Mrs. Mary Arch," wife of a wealthy farmer of Quogue, N. Y., who eloped with a negro, was an Indian squaw and her husband is a half-breed. Hon. John M. Glover, member-elect from Missouri, has been notified that his seat in the house will be contested by Dr. John McLean, his Republican opponent. The St. Louis Globe-Democrat news editor who has just fallen heir to $100,000, was the fellow who headlined a brace of negro executions, "Chocolate Drops." In a breach of promise case at Streator, Ill., the other day, the fair plaintiff testified that "kissing always began at 9 in the evening and lasted until 3 o'clock next morning." Spencer D. Richardson, dry goods at Syracuse assigned recently. Liabilities $60,000, of which $50,000 is due Wilkinson & Co., the failed bankers. Preferences, $52,000, Chauncey Pulsefer, formerly manager of

9. December 19, 1884 The Middlebury Register and Addison County Journal Middlebury, VT
Article from The Middlebury Register and Addison County Journal, December 19, 1884

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NEWS SUMMARY Eastern and Middle States. THE debt of New York city is now $88,863,000. FOUR men were killed, another was fatally injured, and a sixth was reported missing through an explosion of sulphuretted hydrogen gas at Henry Clay coal shaft, Shamokin, Penn. The men were working with naked lamps in the shaft when the explosion took place. OPDYKE & Co., a prominent New York banking firm, have suspended, with liabilities of about $200,000. THREE blocks of houses at Trenton, Penn., a small mining town, were destroyed by fire, and six persons-Frank Ferrell, his wife and three children and a boarder named Fitzgerald-perished in the flames. One of the Ferrell family-a child five years old-was saved. A JUDGMENT against Ulysses S. Grant for $150,417.20 in favor of William H. Vanderbilt has just been entered in the New York county clerk's office. It was granted by the supreme court. with the consent of General Grant's counsel, in a suit brought by Mr. Vanderbilt for money borrowed by General Grant on May 3, 1884, just prior to the memorable failure of Grant & Ward and the Marine bank. BOSTON'S municipal election resulted in the success of O'Brien, Democratic candidate for mayor, by about 3,000 majority. In Worcester the Citizen's candidate, and in Lynn the Workingmen's candidate for mayor were successful. MISS MARY G. CALDWELL, a wealthy young lady of New York city, has given $300,000 for the establishment of a Catholic university in the United States. Other do nations by Catholics are expected to increase this amount to $1,000,000, and eventually to $3,000,000. WILKINSON & Co., bankers of Syracuse N. Y., have failed with liabilities of $500,000; assets, about $150,000. H. J. GOODWIN & Co., one of the largest woolen jobbing houses in New York, have suspended with liabilities of about $300,000.

10. December 20, 1884 The Dickinson Press Dickinson, ND
Article from The Dickinson Press, December 20, 1884

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Miscellaneous News Notes. The week's failures numbered 316 against 296 the week previous. An artesian well at White Plains, Nev., has reached a depth of 2,100 feet, or more than one-third of a mile. Senator Hill of Colorado says if Secretary Teller is the author of the stories against him, he is an infamous liar. The "Mrs. Mary Arch," wife of a wealthy farmer of Quogue, N. Y., who eloped with a negro, was an Indian squaw and her husband is a half-breed. Hon. John M. Glover, member-elect from Missouri, has been notified that his seat in the house will be contested by Dr. John McLean, his Republican opponent. The St. Louis Globe-Democrat news editor who has just fallen heir to $100,000, was the fellow who headlined a brace of negro executions, "Chocolate Drops." In a breach of promise case at Streator, Ill., the other day, the fair plaintiff testified that "kissing always began at 9 in the evening and lasted until 3 o'clock next morning." Spencer D. Richardson, dry goods at Syracuse assigned recently. Liabilities $60,000, of which $50,000 is due Wilkinson & Co., the failed bankers. Preferences, $52,000. Chauncey Pulsefer, formerly manager of

11. December 21, 1884 The Sun New York, NY
Article from The Sun, December 21, 1884

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THE SYRACUSE BANK FAILURE. Warrants for the Arrest of the WilkinsoneTheir Assets and Liabilities. SYRACUSE, Dec. 20.-To-day the police magistrate issued a warrant for the arrest of Alfred Wilkinson and J. Forman Wilkinson. the bankers who recently suspended. in which they are charged with larceny in the second degree. The warrant is returnable on Monday. and the defendants have been notified to appear. Albertus C. Johnson. the complainant. alleges that on the day before their assignment. he bought of Wilkinson & Co. a draft on the Chemical Bank of New York, which has been returned unpaid. Charles E. Hubbell, ASsignee of Wilkinson & Co., bankers, has flied his bond. and the schedule of their assets and liabilities is as follows: Liabiltties-Preferred creditors. preferred creditors other than depositors, $248,557.11 depositors, $182,817.68; total, $528,071.08 Good Assets-Real estate. $42,970: land contracts, $20,083.92 bonds and mortgages. $12,000 office furniture, $595: rents, $7,005: collateral held by Willard & Co., $101,034.95: other securities, $73,870; discount. ed notes, $21,056.93: county and town orders, $1,026.27: overdrafts, $1,686.30: collection accounts. $5,228.03; due from other banks, $930.36 past due notes, $12.037.93; Iron Works Company bonds. $1,800: Richardson estate, $24,000; E. B. Van Dusen estate, $1,732 John Dunn. Jr., $4,174.22: total. $324,304.28. To these assets are to be added such amounts as may be good of the doubtful overdrafts, amounting to $21,851.67. and the doubtful discounts. amounting to $25,124.41. To the liabilities will be added such rediscounted bills as may be unpaid, and there also are claims by individuals growing out of stock transactions, the amount of which is not ascertained. Alfred Wilkinson. Jr., has also qualified as assignee of Richardson & Co., merchants, whose total liabilities are $55,051.96, and the assets, $39,994.92.

12. March 7, 1885 New-York Tribune New York, NY
Article from New-York Tribune, March 7, 1885

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SYRACUSE. A POSSIBLE DEADLOCK-MURDERS DUE TO INTOLERANCE-TROTTERS SOLD. [BY TELEGRAPH TO THE TRIBUNE. 1 SYRACUSE, March 6.-The organization of the new city government under the revised charter, and with the Common Council tied, is attended with some frie tion. The Mayor has the power to appoint and council approves the bonds of appointees. A majority of the count cil cannot be obtained without a compromise on patronage. A lively contest is expected, perhaps a deadlock. The annual report of the Shelter for Homeless Women shows that sixteen girls have been cared for at the expense of $15 50. Albert Sparks and wife narrowly escaped suffocation from coal on gas Monday. The recent murders of Italians in this vicinity are be lieved to be due to religious intolerance. The mystert ous double murder at Savannah, Wayne County, the OM at Baldwinsville, Onondaga County, and others along the Hudson River are all believed to have the sand origin. A reunion of Veterans of the "Old Twelfth" New York Volunteers was held on Wednesday and a perms nent organization made. There are only 127 survivors It was the first regiment to go to the war from this see tion in 1861. The school moneys appropriated to Opondage County for common schools amounted to $73,607 of which $29,597 goes to the city, Ata meeting of citizens in the interest of the new Young Men's Christian Asso clation Building, measures were adopted to raise funds to complete the building without debt. The school children have been enjoying sleigh rides for R fortnight by the generosity of Alderman Listman Half a dozen ice wagons filled with children made things lively. New judgments'against the suspended banking firm of Wilkinson & Co.. are entered daily. The examination of R. N. Gero continues to interest the public, A w ceiver has been appointed for the bankrupt American Chemical Company. The affairs of Richardson still under investigation. A large sale of blooded horses was made to Now-York parties Wednesday, among them the famous trottas Billy Gray. record 2:25; Jimmy B. record 2:22: John Signer, record 2:30 and half a dozen others, all fant trotters. At last the Syracuse, Phonnix and Oswego Railway was promises to become a reality. The new company organized on Monday. The road will be built and eeg pied as soon as possible. It is hoped to have treis running in July. Six Byracusans have recently secured letters patent inventions. Among them are a dentist's tool rac wagon body support, seven patente for shoe and clasps, two for dessicating apparatus and linings furnace grooves. Several others were granted neighboring planes. The salary of the Chief of Police has been increased $150 a month. numberly Death has been busy in the last week, venem among bia victime the Rev, E. a. Brown. Benedict Methodist elergyman, James

13. March 16, 1885 Lancaster Daily Intelligencer Lancaster, PA
Article from Lancaster Daily Intelligencer, March 16, 1885

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SWINDLING INDICTED. The Wilkinson Brothers of Syracuse, N. Y., Charged With Grand Larceny. The grand jury of Syracuse, N. Y., brought in sealed indictments charging J. Foreman Wilkinson I and Alfred Wilkinson, of the firm of Wilkinson & Co., bankers, who failed on Dec. 9, 1884, with grand larceny. The day before they assigned the Wilkinsons sold Col. J. S. Goodrich a forty dollar draft on the Chemical National/bank of New York, in which they not only had no funds at the time, but to which they were in debt for overdrafts. Several other criminal charges against the defendants are likely to follow. The liabilities of the Wilkinson's, who had been in business over 20 years, aggregated over $500,000, and they had less than half that amount of nominal assets. The action of the grand jury created a sen sation in the city, as it had been supposed that their high social standing would protect them. J. Foreman Wilkinson was arrested by the sheriff, and was held by County Judge Northrup for trial, two weeks hence, before the court of sessions. Alfred Wilkinson, the brother of the prisoner, has not been found, but the sheriff says he will have him in the court house cells before Monday morning. One of the bookkeepers of the Chemical bank testified before the grand jury that when Wilkinson & Co. failed they owed the Chemical bank $1,805 for overdrafts. For three weeks preceding the failure Wilkinson & Co. had slaughtered nearly $200,000 of stocks on Wall street, New York, through Willard & Co., brokers, and the latter had as a result paid to Wilkinson & Co.'s credit at he Chemical bank about $150,000. The latt er amount was drawn against the Syracuse, and most of the money was paid to friends of the bankrupts. They have, since their failure, retained no less than 20 lawyers to defend different suits, and when they hired a former district attorney to defend their criminal cases they put up a thousand dollar cash fee. Before failing Wilkinson & Co. transferred $300,000 of real estate to a brother, John Wilkinson, of Chicago, and in their assignment they preferred relatives for $100,000 on alleged bogus loans.