9103. Vincent J. Scott (private banker) (Detroit, MI)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
private
Start Date
July 28, 1885
Location
Detroit, Michigan (42.331, -83.046)

Metadata

Model
gpt-5-mini
Short Digest
af4befdb

Response Measures

Full suspension

Other: Assignment to a trustee/insolvent private banker (Robert Outman / Robert Toulman named).

Description

Multiple contemporaneous papers report a run of about two weeks (≈$60,000 withdrawn) followed by suspension/assignment on Aug 11, 1885. The assignment indicates permanent closure/insolvency (receiver named), so classified as run → suspension → closure. No indication the bank reopened.

Events (3)

1. July 28, 1885 Run
Cause
Bank Specific Adverse Info
Cause Details
Business falling behind; depositors withdrew over $60,000 in ~two weeks.
Newspaper Excerpt
about two weeks ago a run was begun on the bank, in the two weeks over $60,000 being drawa out.
Source
newspapers
2. August 11, 1885 Receivership
Newspaper Excerpt
assigned this morning to Robt. Outman. / assigned this morning to Robert Toulman. His business was falling behind ... His assets are said to be from $130,000 to $140,000 and will cover the liabilities.
Source
newspapers
3. August 11, 1885 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Business failing/behind; suspension/assignment following heavy withdrawals and insolvency concerns.
Newspaper Excerpt
Vincent J. Scott, a private banker of Detroit, has suspended payment.
Source
newspapers

Newspaper Articles (7)

Article from Memphis Daily Appeal, August 12, 1885

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Article Text

BUSINESS TROUBLES. Assigned, DETROIT, MICH., August 11.-Vincent J. Scott, private banker, assigned this morning to Robt. Outman. His business was falling behind, and about two weeks ago a run was begun on the bank, in the two weeks over $60,000 being drawa out. His assets are said to befom $130,000 to $140,000, and will cover the liabilities.


Article from St. Paul Daily Globe, August 12, 1885

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CONDENSED TELEGRANS. Vincent J. Scott, a private banker of Detroit, has suspended payment. Assets of $130,000 will cover all liabilities. George Walsh, James Miller and boy were killed by a Grand Trunk train while crossing the road in a wagon near Blue Bonnets, Quebec. The Haywood White Sulphur Springs hotel at Ashville, N. C., was destroyed by fire yesterday. The 200 guards got out safely with their effects, and all the furn sure was saved. Perse C. Gooding, Chicago agent for the New York Hektograph company, is charged with being a fugitive and $3,500 short in his accounts. An officer of the Lake Mistassini exploring and surveying expedition reports its extreme length to be only 120 miles and its average breadth only 20 miles. At a meeting held at the office of Mayor Francis yesterday morning at St. Louis, the Missouri Monumental Grant association was organized to raise funds to erect a monument to Gen. Grant in that eity. Officers were elected and contrigutions called for. The exports of merchandise from New York the past week amounted to $5,448,381. John Lewis & Co., chandiers, assigned in New yesterday. A heavy bank caved in yesterday afternoon at the goverment works on the canal in Louisville and killed Peter DeCourcey and seriously wounded Thomas McCann and Mike Cusick, all workmen. Hon. Robert Mallory, who served in congress during the war. died at his farm near LaGran, Ky., yesterday morning of kidney trouble. Geronimo is now in the southern part of the Sierra Madras, 500 milesbelow the border of the territory, with United States troops following him. The Seneca Silver Cornet band, composed ofSeneca Indians. gave an entertainment at Chaatauqua yesterday and were heartily applauded. The Monongahela and Kanswha miners will strike if they do not get an advance of half 2 cent a bushel. All the Cleveland iron mills except the Girard willstart Thursday Thomas W. Carpenter, who is said to have stolen $38,000 in boards from Mark Downey at Richmond, is held to the grand jury. Jeff Phillips, colored, resisted arrest at Maysville, Ky., and was killed. Seven hundred ironworkers broke into a wire mill at Cleveland yesterday, but, finding o one at work. retired in good order. The strikers are determined that no man shall go to work until reinstated. The old-rail clause has been withdrawn by the Amalgamated association. A Canadian meeting asks that a commission be appointed to inquire into Riel's sanity. At Patterson, N. J., the head of a boiler was blown through an eight-inch and a twelve-inch wall. wrecking twobuildings, but doing no other damage. Norsuch. the anarchist, recommend the use of dynamite at Cieveland in a speech last night. James W. Marshall. who first discovered gold in California, died Monday at Kelsey, Col., aged it years, a poverty-stricken and disappointed man. .F. Libby, supposed to be insane, shot his partner and then himself yesterday at Silverton, Or. Ex-Gov. Moses of South Carolina is again in jail, this time in Boston, on the old charge of obtaining money under false pretenses. Peoria distillers have gotten themselves into trouble by using barrels which hold a gallon or two more than they appear to. thus defrauding the government of the tax on that amount. The barrels are made with a thick stave where the bung hole is and a thick stave opposite, all the rest and the heads being thin. The Oklahoma boomers are disbanding temporarily to avoid embarrassing the government in its movements. which tend, the boomers think, toward opening the coveted territory. The shipment by registered mail packages of $100,000 each of $40,000,000 in gold from San Francisco to New York, has been stopped owing to the publicity attained. The gold was shipped in this way because of the excessive express charges. Ellen Deary has been arrested for kidnapping Laura Claxton at Philadelphia. Dr. Makke of the Rochester, N. Y., Volksblatt is troubled with a duality of wives. 1 Stonewall Jackson's old sorrel was turned over to the Richmond ex-Confederate home yesterday. The animal is 31 years old. A Miss Vanderwer was burned to death at Galveston yesterday and her brother and two sisters so badly burned as to render recovery impossible.


Article from The Indianapolis Journal, August 12, 1885

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Article Text

Assignment of a Private Banker. DETROIT, Aug. 11.-Vincent J. Scott, private banker, assigned this morning to Robert Toulman. His business was falling behind, and about two weeks ago a run was begun on the bank, in the two weeks over $60,000 being drawn out. His assets are said to be from $130,000 to $140,000 and will cover the liabilities.


Article from The Rock Island Argus, August 12, 1885

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Article Text

Business Troubles. DETROIT, Mich., Aug. 12.-Andrew J. Brow, a prominent art dealer, and Vincent J. Scott, an old and well-known privat banker, both made a signments here Tues day morning. It is thought both will be able to pay their creditors in full PROVIDENCE R. I., Aug. 12.-It was rumored on the streets Tuesday that the Valley Worsted mills had suspended payment and shut down. At the company's office, it was learned that a note for a considerable amount had been protested in New York, Aug. 6, and that the company had suspended payment of the amount involved. An investigation into the company's affairs is in progress.


Article from The Wheeling Daily Intelligencer, August 13, 1885

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IN BRIEF. Tailora Union of the United States session at Baltimore, Md Burglars are at work in Middletown and have been quite successful David Hallowell, aged 15. was drowned Mahoning river. Youngstown, o Joseph Shultze of Richmond, Ind. aged 40, fell dead while standing in his door way Vandals have already begun defacing General Grant's tomb to secure mementoes. Vincent J. Scott, a private banker of Detroit, has assigned for the benefit of his creditors. The Valley Worsted Mills at Provi dence, R.I., have suspended payment and shut down. The exports of merchandise for New York, for the week ended August 11, were $5,448,381. of Benjamin F Butler has become one the incorporators of the Union Land and Grazing Company Matt Brenford has been arrested for the murder of John Sweariagen in Springfield O., last November The Democratic judicial convention which assembled at ayton, O. nominated Judge Dennis Dwyer. An has been organized in St Louis, its object being the erection of monument to Grant Watt. M Gray a cattle dealer of North Middletown, K has left for parts unknown, owing $40,000. Increased law lessness on the part of illicit distillers of whisky is reported from the Western District of Tennessee. A three year old son of Martin Kearns. near Findlay o was scalded to death by the upsetting of pot of hot coffee Johnny Green, aged eleven years, fell under moving train at Xenia, O. and his head was severed from his body Wm. W Vilson, an employe of the wheel works at Lafayette, Ind. had his skull crushed by heavy derrick. and died. The first Independent Grand Command ery of Colored Knights Templar of Kentucky is in convention at Lexington, Ky The coal miners at Straitsville, O., have made a demand for a ten cents advance, and the Hocking Valley troubles are likely to be renewed The death of Mrs Sarah A Gordon. of Coshocton, O. which was attended with suspicions of poison, is to be investigated by the Coroner. An insane man was found wandering in the vicinity of Millersburg, o who, w hen boy (thirty years ago), left the place, and this is his first return. Geronimo, the renegade Indian is now in the southern part of the Sierra Madr three hundred miles below the border. with two commands following him. An officer of the Lake Mistassinni ploring and survey ing expeditio reports its extreme length to be only 120 miles and its average breadth only twenty miles. heavy bank eaved in at Louisville at the Government works on the canal, and killed Peter Decourev and seriously wounded Thomas McCann and Mike Cu sick. The court-martial try ing Pavmaster General Smith ad ourned finished its work. but the finding will not be an nounced until the President has passed upon it Wm. Root, a wealth seedsman of Newark O. is unaccountably absent from his home. and attachments have been issued against his property to the amount of about $30,000. a Secretary of State Bayard received telegraphic from the American Consul at Guayaquil, Ecuador saying that he had positive information that Santos had been liberated e The quarantine officers at Baltimore and at the Delaware Brea kwater have st been notified to look out for three vessels de which have sailed from Genoa for those places without proper bills of health. A petition is being circulated through out Massachusetts by Cochitnat te parties appealing to Secretary Bavard to use his influence in behalf of Louis Riel on the ground that he is an American citizen. The Indians on the Indian reservation at Deseranto, Can. becoming displeased with the rural dean. Baker, on Sunday night, dragged him from his pulpit, and threw him out of the door of the church. At Youngstown yesterday. Frank and John Donahue were buried beneath fall of earth in a stone quarry. The former was disembowled and lived only short time. The injuries of the latter are be lieved to be fatal. Thomas Taylor, who lost an arm at the battle of Shiloh while Lieutenant of Company H, Seventieth o. has been 0 removed from the postoffice West Union. On and Thomas W. Ellison has been put in the place. of Governor Hoadl 's recommendation M: A Hanna for the Government Direc torship of the Union Pacific railroad severely condemned by Democrats. Mr Hanna was a Blaine delegate to the Chicago convention from Cleveland. B Acting Land Commissioner W alker has prepared alist of fifty cattle-herders who have unlawfully inclosed 3.033. 880 acres of in the public doma in W estern States and Territories. It is believed the aggregate will not fall below fourteen millions. The Massachusetts Supreme Court yes terday gave a verdict for $72,000 in favor of the plaintiffs in the celebrated case of Frank B. Dole and others against John 0 Woodbridge in which it was claimed that tv the plaintiffs had been induced to invest in California mining stocks. The family of Daniel Asbaugh, Jr., near New Philadelphia, Ohio, were poisoned yesterday by eating toadstools. One boy h died and the mother and a young child are not expected to live. Two girls named Richardson. from the Dayton Orphass Home, ho were visiting the family y, are in critical condition y A seizure of smuggled jewelry from New York has been made by the customs offi cers at Montreal A well dressed woman crossed the boundary several times at different points. She always accom small poodle dog. and it was under the blanket watch the dog invariably wore that the valuables were stored The Green Iron Works. operated by the Garrett Iron Company at Green wood shut down last night. stated that the company is financial assignment has been said to be from of thousand dollars are due em


Article from The Iowa Plain Dealer, August 20, 1885

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WESTERN. James W. Marshall, the original discoverer of gold in California, has just died in poverty at his home in that State. His age was 74. Hine and Stewart Pond, sons of the late Elder Pond, ex-Indian Commissioner, were leading a Holstein bull to their farm, about twelve mi es from St. Paul, when he became irritated and attacked the men, kill. ing both almost instantly. Vincent J. Scott, a private banker of Detroit, has made an assignment. His assets are given at $140,000, which, it is thought, will cover the liabilities. The Missouri Monumental Grant Association has been organized at St. Louis to raise funds to erect a monument to the departed hero in that city. A San Francisco dispatch announces the death in that city of Helen Hunt Jackson, the well-known authoress. Her disease was cancer of the stomach, and she literally starved to death. In a collision with riotous strikers at Bay City, Mich., Sheriff Brennan was wounded in the head. None of the mob were arrested. A San Jose (Cal.) dispatch says a great sensation was caused there by the bold daylight robbery of the San Jose Safe Deposit Bank of Savings. A man entered the bank and obtained a bil: of exchange for $65.50. A few minutes after the stranger departed the Cashier missed a tray containing $10,000 of gold in twenties. The alarm was immediately given and search made, but without avail. It is believed two or more men were engaged in the theft, and that while the attention of the bank officers was engaged by the men in front others slipped inside the counter and stole the money. The bank has offered $1,000 for the capture of the thieves or recovery of the money. sensation has been created in Youngstown, Ohio, by the assertion of a lo. cal clergyman from his pulpit that several "society ladies" of that city have been under treatment for delirium tremens. Indignation was high, and the reverend gentleman will be asked to name his authority. The seventh anniversary of the institution of the Independent Order of Foresters in Illinois was celebrated at Chicago. There was an imposing parade under command of Chief Marshal William Kilpatrick, with Chief of Police Doyle as his aid. At the conclusion of the parade addresses were made in the Base-Ball Park: There were about 4,500 men in line. William Duff Haynie, of Bloomington, III., has been appointed Chief Clerk to First Assistant Postmaster General Stevenson. Postmaster General Vilas has left Washington on a vacation. He will be absent from duty two or three weeks. Sixteen mills at Saginaw City are now running on eleven hours' time, and only four ten-hour mills are in operation. John Oate, an aged farmer, living alone near Missouri City, Mo., was found dead in bed, with his hands and feet bound, and several wounds in his head. There is no clew to the murderers or their motive. In the Chickasaw Nation, I. T., David Hunter shot and killed Samuel Smiley in a quarrel about some horses. Hunter fled, but was pursued by Smiley's friendsand slain. Wheat in Minnesota, north of St. Paul, has been damaged by blight and inects, and south of St. Paul by hot weather and storms. Corn in the same territory is doing well. In Indiana there is an increase In the acreage of buckwheat and tobacco and a decrease in the acreage of flaxseed and potatoes as compared with 1884. Cherokee Indians who are dissatisfied with the leases of their lands to the cattle syndicate will petition President Cleveland to proclaim them invalid and order the immediate removal of the cattle. The corn crop in Central Illinois will be one of the largest ever known, many fields averaging seventy-five bushels to the acre. Near Eddyville, Iowa, one section of a railroad train carrying Forepaugh's circus ran into another, wrecking several cars and seriously injuring a number of employes. It is reported from Billings, Montana, that a party of cattlemen attacked a band of twenty Piegan Indians on the Musselshell River, killing all of them, and recovering seventy-five stolen horses which were in their possession. A new ges-well was struck at Find


Article from Little Falls Transcript, August 21, 1885

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Miscellaneous News Notes. me New York World has got its $100,000 for the Bartholdipedestal. The family of Daniel Ashburg, Jr., ofNew Philadelphia, is poisened by eating toadstools. The Greenwood Iron works, operated by the Parrot Iron company, at Greenwood, N. Y., shut down. The rumor of the retirement of Gen. Adna Anderson as engineer-in-chief of the Northern Pacific is confirmed. Hon. George B. Loring, ex-commissioner of agriculture, has written a letter in reply to Judge Durham's communication announcing a disallowance of a portion of Mr. Loring's accounts as commissioner Vincent J. Scott, private banker of De troit, Mich., has assigned. His business was falling behind, and a run was begun on the bank, $60,000 being drawn out in two weeks. His assets are said to befrom $130,000 to $140,000, and will cover the liabilities. The old sorrel horseridden by Gen. Stonewall Jackson during the war was brought to Richmond, Va., and turned over to the Home for exConfederates for safe keeping. The animal is about thirty-one years old. Many wanted him carried to New York to take his place in Gen. Grant's funeral procession, but it could not be arranged in time.