North River Bank (New York, NY)

Episode Information

Episode UID
976831691091
Episode Type
Run → Suspension → Closure
Bank Type
trust
Bank ID
97683169 hash
Start Date
November 12, 1890
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
5cf5e3bda40385e9

Response Measures

None

Description

Directors sought depositor pledges to reopen but the bank later went into receivership and officials were criminally charged.

Events (3)
1. November 12, 1890 Run
Cause
Rumor Or Misinformation
Cause Details
Rumors of the bank's clearing-house standing and reports it was a defaulter prompted depositors to withdraw funds.
Measures
Applied to the Clearing House for a loan; clearing-house committee dispatched to examine the bank.
Newspaper Excerpt
All day Wednesday there was a quiet but steady run on the bank, the result of rumors that the bank was in financial straits.
Source
newspapers
2. November 12, 1890 Suspension
Cause
Government Action
Cause Details
Bank examiner/authorities took charge and the bank closed after ready money was exhausted following withdrawals.
Newspaper Excerpt
This bank has suspended temporarily. ... The bank examiner took charge of the North River bank at 2:55 P. M., and closed its doors.
Source
newspapers
3. May 4, 1891 Receivership
Newspaper Excerpt
The complaint in the case was made by the receiver of the bank, Frank Higgins.
Source
newspapers

Newspaper Articles (24)
1. November 13, 1890 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, November 13, 1890

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THE STOCK MARKET. Continued Pressure--Failure of the North River Bank. Reported Scoop of Union Pacific Railroad by Jay Gould. Captain and Quartermaster Swept From the Deck and Lost. NEW YORK, Nov. 12 -Nottbstanding the announcement made early in the day that the North River Bank had tided over the lossesjof yesterday, and made satisfactory arrangements with the Clearing House, that institution closed its doors at 2.15 P. M., and posted a notice saying: "This bank has suspended temporarily." All efforts to obtain further information are fu. sile. The doors are locked and admittance fe denied to all. A number of depositors congregated front of the entrance to the Bank, and were much exercised over the sudden suspension. They believed the reporte of its embarrassment yesterday caused many to withdraw their accounts today, and the drain was 80 heavy that the directors decided to suspend until the affairs of the bank could be investigated and its exact condition ascertained. Later news had not reached Wall street before the closing of the Stock Exchange. It is announced that the closing of the Bank was ordered by the Bank examiners, who are now in charge of that institution, investigating its affairs. The bank examiner took charge of the North River bank at 2 55 P. M., and closed its doors. The bank had a capital of $200, 000, and a surplus of $100,000. In Saturday's bank statement, it was reported that the deposits were $1,975,000, its outstanding loans amounted to $2,013,000 There was held in reserve $118,000 in specie, and $152,000 in legal tenders.

2. November 13, 1890 The Helena Independent Helena, MT
Article from The Helena Independent, November 13, 1890

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The Alarming Symptoms of a WideSpread Financial Panic Have Subsided. There Was Great Excitement on 'Change but a Better Tone in the Market. Money More Plentiful and Rates Much Lower for Demand Loans-The North River Bank. NEW YORK, Nov. 12.-The stock market to-day showed a materially better feeling both in the street and outside and there was a most gratifying confidence displayed that not only was the worst now over but that improvement would be quick and sharp. The action of the clearing house committee in coming to the relief of banks in difficulty was the means of restoring the confidence of many. while improvement in the situation abroad was also a powerful factor to that end. Not only were active stocks much higher all day long but inao tive specialties, which yesterday could not find buyers at any price, to-day were taken at constantly advancing figures and the heavy slump in those shares was in a great measure made up. The liquidation in Villards is now believed to have marked the culmination of the efforts to force complete liquidation in the street, as those stocks had resisted the force applied for a much longer time than any other group of stocks on the list. The impression is that now the whole situation has been changed for the better, and improvement in the condition of affairs will be followed by higher prices all along the line. There is to be expected considerable selling in Northern Pacific securities and some ,others to liquidate loans, as was witnessed to-day, but the market now shows no pressure of stocks, and offerings the past few days have undoubtedly been taken by strong parties. The unfavorable factors to-day were continued sales under the rule both for account of the suspended firm of Decker, Howell & Co., and for the accounts of two other brokers whose suspension was announced during the day. There were still rumors of further troubles in financial circles, and the North River bank went into the hands of an examiner late in the day, though the fact was not made known until after the close of business. Foreigners were heavy buyers all day long, and transactions for foreign account were so large that a suspicion that the late sales for London were for short account was openly expressed. Loaning rates for stocks have been very high and inquiry has been very urgent, which would go to give color to the suspicion. The report that Gould had acquired control of the nion-Pacific again was used for all it was worth. but that stock showed no response to the story. North American sold heavily and although taken freely failed to advance. The remainder of the list was especially sluggish in comparison with Northern Pacific. Transactions in it. however. were on an enormous scale and aggregated about one-quarter of the total business done in all securities. The general list was very feverish, as was to be expected under the circumstances, but there was almost a continuous advance in I prices from the opening to the close.

3. November 13, 1890 The Anaconda Standard Anaconda, MT
Article from The Anaconda Standard, November 13, 1890

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Yesterday's Failures. NEW YORK, Nov. 12.-Members of the brokerage firm of C. M. Whitney & Co., which assigned yesterday, made separate assignments this morning. J.C. Walcott & Co., No. 38 Pine street, have just announced suspension on the stock excl ange. The house was generally considered solid. It is not believed the failure will have any effect on the market. The North River bank is a member of the clearing house and operates under a state charter granted in 1842. It applied again to-day to the clearing house for a loan and a committee was on the way to examine into the condition of the institution when it was learned it was in the hands of the bank examiner, who is tonight overhauling the accounts. It is stated the bank officials expect to open up for business to-morrow. The cause of the present difficulty is simply tight money. On account of the mention of the North River bank as one of the defaulters at the clearing house yesterday the depositors started a quiet but steady run on it. The bank stood out until 2:30, when ready money was exhausted and it had to close its doors. It did an average business of $3,000,000.

4. November 13, 1890 Evening Journal Wilmington, DE
Article from Evening Journal, November 13, 1890

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THE DOORS CLOSED. The North River Bank Suspends-Wall Street's Flurry the Cause. NEW YORK, Nov. 13.-The North River bank, in Greenwich street, suspended business yesterday afternoon. It was said that the tightness of money had caused the suspension. President Edward E. Gedney and Frank R. Ingersoll, cashier, were at the bank until a late hour Tuesday night. They sent out word to reporters that the bank was $60,000 short at the Clearing house and that it had ample securities to cover all shortages. All day Wednesday there was a quiet but steady run on the bank, the result of rumors that the bank was in financial straits. The bank has been doing an average business of $3,000,000. It loaned a great deal of money lately, and being unable to get it in again to meet cash demands, had to suspend. The directors are John H. Starin, Joseph Brokaw, John R. Greason, James L. Wise, Nicholas C. Muller, Edward L. Hedden, William E. Tefft, Aaron Close, Charles C. Worthington, Millard R. Jones and David R. Paige. The officers were positive in their statements that only $60,000 was involved in the suspension. The bank is the New York correspondent of the Howard National bank, Boston: Tradesmen's National bank, Philadelphia, and Northwestern National bank, Chicago. The bank has been established over fifty years. Levi Apgar, who had been president many years, died Nov. 12, 1888, and E. E. Gedney, who had been in the bank since 1866, was promoted to the presidency, having previously been the vice president. The bank, it is said, took deposits up to 1:30 o'clock yesterday, and also discounted a note for a depositor. Several policemen guarded the doors last evening. The crisis in W&ll street seems to be over. Two small failures occurred yesterday, but the market opened favorable, and all stocks but the Villard series rose,

5. November 13, 1890 Wheeling Register Wheeling, WV
Article from Wheeling Register, November 13, 1890

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North River Band Closes. NEW YORK, November 12.-The North River bank at the corner of Dey and Greenwich streets, closed its doors this afternoon at 2:30 o'clock. It operates under a State chaater granted in 1842. It is one of the banks which had to be helped out by the Clearing House yesterday, and the rumor started a quiet but steady run. The bank applied today to the Clearing House for a loan and a committee was on the way to examine into the condition of the institution when it was learned that it was in the hands of the Bank Examiner. It was stated that the bank officials expected to open up for business to-morrow morning at ten o'clock. The North River bank was reported last week as having a capital of $240,000, a surplus of $118,500, loans $2,000,000, deposits $1,975,000 and cash on hand $270,000. It did an average business of $3,000,000. The cause of the present difficulty is simply tight money.

6. November 13, 1890 The Morning Call San Francisco, CA
Article from The Morning Call, November 13, 1890

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MORE FAILURES. A New York Bank and Several Business Firms Suspend Operations. NEW YORK, Nov. 12.-Notwithstanding the announcement early in the day that the North River Bank would tide over the losses of yesterday and had made satisfactory arrangements with the Clearinghouse. that institution closed its doors at 2:15 clock and posted the following notice: This bank has suspended temporarily." All efforts to obtain further information from the officers were futile. The doors were locked and a number of depositors were congregated in front of the building, much exercised over the sudden suspension. At 3 o'clock the Bank Examiner had taken charge of the bank. The North River Bank is a member of the Clearing-house, and operates under a State charter granted in 1842. It applied again to-day to the Clearing-house for a loan, and a committee was on the way to examine into the condition of the institution when it was learned it was in the hands of the Bank Examiner, who is to-night overhauling the accounts. It is stated the bank officials expect to open up for business to-morrow. The cause of the present difficulty is simply tight money. On account of the mention of the North River Bank as one of the defaulters at the Clearing-house yesterday depositors started a quiet but steady run on it this morning. The bank stood out until 2:30 o'clock, when the ready money was exhausted, and it had to close its doors. It did an average business of $3,000,000. The examiners said late 10-night that they had not concluded their examination of the books, and could make no statement. J. C. Walcott & Co., 32 Pine street, announced their suspension on the Stock Exchange. The house was generally considered solid. It is not believed the failure on little failure will have created any effect surprise. the market. The house, The though a good one, had but small interest in the market. The sales under the rule for its account aggregated less than 2000 shares, distributed among all the active specialties. Walcott refuses to make a statement. It is stated to-night that Walcott's liabilities will not amount probably to more than $12,000, and the assets are ample to cover this. The firm is an old one. The failure is due to the failure of clients to respond to the cails for margins and to the difficulty in obtaining money from the banks. Benjamin K. True, stockbroker, has failed. He is a small dealer and his failure is of no significance. The members of the brokerage firm of C. M. Whitney & Co., which assigned yesterday, filed separate assignments this morning. The assignee of C. M. Whitney & Co. said this evening that the firm owes about $3,000,000 on loans, the securities on which were deemed sufficient when the loans were made. A considerable sum in cash to come in within a few days will go toward straightening out matters. The question of whether the firm will be able to resume depends upon the state of the market in the next few days and the value of the securities pledged. The assignee of Decker, Howell & Co. has a large force of clerks making up a statement of the firm's condition, but its daily transactions were so enormous that it will take some time to arrive at a clear understanding of the assets and liabilities. The assignee said this evening that a large amount of the securities turned over to him were extremely good collateral, particularly the Villard stocks, which are vastly above the temporary price made by this abnormal market. If the creditors use good judgment and do not act hastily they will not only be paid in full but will leave a good surplus for the estate.

7. November 13, 1890 Telegram-Herald Grand Rapids, MI
Article from Telegram-Herald, November 13, 1890

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A CRISIS. Panic in the Stock Market on Wall Street , Several Big Firms Fail Decker, How el & Co. 6 Liabilities Eatimated at $10,000,000. BUIN IN WALL STREET New York Nov. 18-The darkest market eloud which overbung the stock and the atmosphere will burst Tuesday ep. Mr. Heary now doubtless clear respected Villard's brokers, the old and Decker, Howell & Co., were firm of involvsuspend. after seriously forced to of the Wall street banks An enermous ing one liquidation in the Villard North -Northern Pacific and stocks- -preceded and followed the American announcement of suspension. formal and was in progress when the marker closed Transactions is Northern Pacific closed preaggregated 84,000 and it farred net fall of 11% of North Amerion a can over 95,000 shares were dealt in. It closed 134 above the lowest but Pacific shows net decline of 83/6 Northern common was less active, but is down % per cent. This and the two failures that pre- the ceded it, the embarrassment of Bank of North America, and the potent measures adopted by the clearing-house banks Tuesday afternoon to relieve the banks and the community of the strain caused by the scarcity of money made dramatic chain of incidents. While real failures were taking place on the Stock Exchange a lot of fictitious ones were being proclaimed th roughout who Wall street by rumor-mongers quoted the names of suspicious banksas being unable to maintain their credit. as The current sensationalism. so far the banks were concerned. had much Yet more invention than fact in it. there was undeniable apprehension in banking circles. Bankers would not mitthis freely, but early in the day there conferences among representa- the ware tives of clearing-house banks, and banks of the New York Clearing House Association determined to provide and against ever possible misfortune exigency by pledging their associated I credit in behalf of every bank in the association. The associated banks of New York have available assets of $95,000,000. Against this it was voted to issue clearing-house certificates in such volumes as the situation might suggest or the require. As a measure of `relief bankers who resolved upon it are confident that it will at once be effectual. There is almost universal agreement among leading New York bankers that the money market's receat range and intightness came through artificial fluences. Funds have been locked up, taken out of ordinary business channels, to kept out of reach--all in order carry forward the bear campaign of depression, apprehension and quotation smashing The provisions of clearing house certificates -unlimited, if need be, up to $93,000,000 will, of course, put to rout all these manipulative schemes. HEAVY FAILURES. It was just after 2:13 o'clock p. m. that the failure of Decker, Howell & Co., of 44 Broadway. was announced on the Stock Exchange W. Nelson Cromwell, the assignee for the firm, made the following statement concerning its affairs late in the afternoon: The liabilities are about $:0,000 000 and the assets at the present market price largely almost exceed that sum. The liabilities are due entirely to banks and bankers on loans secured made of business and are well of cause in course the suspension was the inThe of the firm to borrow the necessary ability cash required in the day's busi amoun of were very large ness. The firm's transactions necessary to borrow several millions it being The firm had abundant collateral daily. for lac% of security but the inability day to make available that caused the in matter of absolute crash. It was simply get money on the best securiti owing ability to to the extraordinary money stringency now prevailing. Joseph H Decker, the senior member of the firm, said: 'Our failure due to the simple fact that we could not get the money to carry on our business We had ample assets, but could not realizo on them. The distress which not has been caused by our failure is local. it is world wide. The firm of Decker, Howell & Co. was one of the most prominenton the Stock Exchange It was identified not only the with the Villard stock but with Standard Oil interests as well. and also carried the accounts of the bigges stocl operating firm in Chicago At the begin firm ning of the present year the claimed to be worth $400,000 in cash. The suspension of C. M. Whitney & Co. was announced at 11 o'clock in the forenoon. The suspension of Whitney & Co. by sales under the rule for their account was of 1,200 shares of Columbus & Hocking Valley and Iron Company shares stock 18% to 151/1 1,400 at Toledo, Ann Arbor & North Michigan at from 26 to 1536 500 shares Texas & Pacific 100 shares Michigan Central. 100 shares Missouri Pacific and 200 shares St Paul common In many cases Hocking Coal and Iron was dealt in to some extent at 2414 to 3136 and Toiedo, Ann Arbor & North Michigan at from 8714 to 403 80 that the less on the 2,600 shares of these two stocks is from 16 to 18 points since May, or say an aggre of gate of possibly $40,000,000. This itself does not indicate a failure of any considerable importance. though it not known yet what other securities they are interested in or whether the whole liabilities will be sufficient to cripple any other tradera HELPING BANKS OUT OF TROUBLE Art the close of the market it earned that three banks which were members of the New York Clear House Association had difficulty in set tling the claims of the other banks against them. There was a bal ance against the Bank of North America of $1 400,000. which it was unable to settle The other banks were the North River and the Mechanics and Traders' During the day the Me chanics and Traders' Rank made

8. November 13, 1890 Spokane Falls Review Spokane, Spokane Falls, WA
Article from Spokane Falls Review, November 13, 1890

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CLOSED ITS DOORS The North River Bank Temporarily Suspends. NO STATEMENT MADE PUBLIC The Rumors of Its Clearing-House Standing Caused a Disastrous "Run." NEW YORK, Nov. 12-Notwithstanding the announcement early in the day that the North River bank would tide over its losses of yesterday and made satisfactory arrangements with the clear. ing house, that institution closed its doors at 2:15 P. M. and posted the following notice: "This bank is suspended temporarily." All efforts to gain further information from the officers were futile. The doors are locked. A number of depositors are congregated in iront, much exercised over the sudden suspension. The bank examiner has taken charge of the bank. The North River bank is a member of the clearing house and operates under the state charter granted in 1842. It applied again yesterday to the clearing house for a loan, and the committee was on the way to examine into the condition of the institution when it was learned that it was in the bands of the bank receiver, who is to-night overhauling its accounts. It is stated the bank officials expect to open up for business to-morrow. The cause OF the present difficulty is simply tight money. On account of the mention of the North River bank as one of the defaulters at the clearing house yesterday the depositors started a quiet but steady run on it this morning. The bank stood out until 2:30, when its ready money was exhausted and it had to close its doors. It did an average business or $3,000,000. The bank examiner said, late to-night that they had not concluded the examination of the books, and could make no statement.

9. November 13, 1890 Spokane Falls Review Spokane, Spokane Falls, WA
Article from Spokane Falls Review, November 13, 1890

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MORE CONFIDENT TONE Prices Show an Upward Tendency. VILLARDS SHOW MORE STRENGTH Money a Trifle Easier and Strong -Parties Operating on the Bull Side. NEW YORK, Nov. 12.-The stock market to-day showed a materially better feeling, both in the street and outside, and there was the most gratifying confidence displayed that not only was the worst now over, but that the improvement would be quick and sharp. The action of the clearing-house committee in coming to the relief of the banks in the difficulty was the means of restoring the confidence of many, while the improvement in the situation abroad was also a powerful factor to that end. Not only were active stocks much higher all day long, but inactive specialties, which yesterday could find buyers at any price, to-day were taken at constantly advancing figures, and the heavy slump in those shares was in a great measure made up. Liquidation in Villards is now believed to have marked the culmination of the efforts to force a complete liquidation in the street, as those stocks had resisted a force applied for a much longer time than any other group of stocks on the list. The impression is that now the whole situation has been changed for the better and the improved condition of affairs will be followed by higher prices all along the line. There are to be expected considerable selling of Northern Pacific securities and some others to liquidate loans, as was witnessed to-day, but the market now shows no pressure of stocks and offerings. The past few days have, undoubtedly, been taken advantage of b& strong parties. The unfavorable factors to-day were the continued sales under the rule, both for the account of the suspended firm of Decker, Howell & Co., and for the accounts of two other brokers whose suspension was announced during the day. There were still rumors of further troubles in financial circles, and the North River bank went into the hands of an examiner late in the day, though the facts were not made known until after the close of business. Foreigners were heavy buyers all day long, and transactions for foreign account were so large that a suspicion that the late sales for London were for short account was openly expressed. Loaning rates for stock have been very high, and inquiry has been very urgent, which would go to give color to the suspicion. The report that Gould had acquired control of the Union Pacific again was used for all it was worth, but the stock showed no response to the story. North American sold heavily, and although taken freely, failed to advance the remainder of the list and was specially sluggish in comparison with Northern Pacific. Transactions in it, however, were on an enormous scale, and aggregated about onequarter of the total business done in all securities. The general list was very feverish, as was to be expected under the circumstances, but there was almost a continuous advance in prices from the

10. November 14, 1890 Wheeling Register Wheeling, WV
Article from Wheeling Register, November 14, 1890

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Fours-and-a-half, Coupons................104 Pacific Sixes of '95........................113 STATES—Dull and steady. RAILROADS—Somewhat less active: sales, $2,050,000. STOCKS—The stock market to-day, while still very active, showed less excitement in early trading and afterwards subsided into the ordinary appearance, with only the usual fluctuations. The general feeling in the street has undergone a marked change for the better. There were no further failures or bank suspensions to disturb the even course of events, but the bears demonstrated the fact that they have not yet gone into their holes, and are still very much alive. The effect of the closing of the North River Bank yesterday afternoon, and the wild rumors circulated in regard to the North American Company were shown at the opening this morning, and everything on the list opened at materially lower figures. At the opening there was an immense crowd of brokers in North American stock, and with the sound of the gavel every one offered stock for sale. The first sale was recorded at 16, from which point it quickly rattled off 1 per cent. at a time till it touched 7. Buyers were found at this figure, however, and it quickly rallied with violent fluctuations and settled around 11. The general list, which had sympathized with the drop in North American to a limited extent, failed to follow it down and a general bullish feeling soon found expression in advances all along the line. The news of the day, however, especially that from the west, was not of an especially encouraging character and when the buying slacked away the bears again came to the front and a failure in the sugar trade was used with considerable effect against the market. The rumors of further trouble among the Clearing House banks were started and a vicious attack was made upon Northern Pacific. The entire list followed, with Sugar the most prominent. The market finally closed active, but fairly steady, at small changes from first prices as a rule. Final changes are generally comparatively small, with the exception of a few. Sugar is down 3⅛, Northern Pacific preferred 2⅛, Pacific Mail 1⅜, Louisville and Nashville 1⅛, and North American 7⅜. Sales 540,607 shares. Quotations closed bid: Adams Express, 145; American Express, 115; Canada Pacific, 73: Central Pacific, 26; Chesapeake and Ohio, 18⅜; do.

11. November 14, 1890 Evening Star Washington, DC
Article from Evening Star, November 14, 1890

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THEY WILL NOT LOSE. Depositors in the North River Bank Will All Be Paid. NEW YORK, Nov. 14.-Cashier Ingersoll of the suspended North River Bank said this morning that the depositors would receive every dollar they put into the bank. The only ones who would lose anything. be affirmed, would be the stockholders. It was only possible for the bank to resume, be declared, if the directors put up the necessary money. Mr. Ingersoll denies the truth of the statement that the bank officials had closed the bank of their own volition on Wednesday afternoon. This was not done until after the arrival of Assistant Bank Examiner Cahill, and although he would not directly say so, Mr. Ingersoll strongly intimated that Mr. Cahill had ordered the bank closed before he had made a sufficient examination of the books to warrant such a proceeding. A motion for the appointment of a receiver of the North River Bank was to be argued today before Judge O'Brien in the supreme court, but Deputy Attorney General Post stated that efforts were being made to place the bank on its feet, and the matter went over till Monday next by consent.

12. November 15, 1890 The Anaconda Standard Anaconda, MT
Article from The Anaconda Standard, November 15, 1890

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Efforts to Resume Business. NEW YORK, Nov. 14.-The motion for the appointment of a receiver of the North River bank was postponed until Monday because efforts are being made to resume business. The directors of the bank held a meeting this afternoon. Superintendent Preston said the board considered ways and means to rehabilitate the bank and resolved to make active efforts to that end. If successful the bank ought to open Monday or Tuesday. The committee from the clearing house has expressed solvency of the institution.

13. November 16, 1890 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, November 16, 1890

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WANT TO RESUME BUSINESS. Directors of the North River Bank Hustling for Funds. NEW YORK, Nov. 15.-The directors and principal depositors of the North River bank hurried around town to-day to secure signatures to the agreement to permit deposits to remain in the bank ninety days after its reopening. Signatures were secured representing $500,000. The amount required is $1,000,000. The directors met this afternoon, but the result of the meeting was not announced even to depositors. Supt. Preston said afterwards that he hoped to reopen the bank on Tuesday morning. He said that on a closer examination of the bank's securities he found some of them worth less than he had originally estimated. There was the usual knot of depositors gathered in front of the bank this morning. Those persons who had safes in the basement and who got such a fright when Assistant State Examiner Cahill closed up the safe deposit department yesterday were relieved to-day. They went in and out without hindrance, OWing to the order of Acting Attorney General Post. The postponement of the motion for the appointment of a receiver until Monday gave the bank breathing time, Mr. Shalleross, of Shalleross & Co., Murray street, stated early in the day that the bank expected to resume business if the big depositors agreed to bear a deposit of $500,000 for sixty days. Mr. Hall, whose place of business is opposite the bank, has been a large customer. Over $10,000 belonging to him is locked up there at present. He said that there was a general hope on the part of the depositors that some other solution than the appointment of a receiver be arrived at. He said that the bank had a good business at its doors if it had only attended to it. If a receiver were appointed it would be ruin to hundreds of the small traders in the neighborhood who could not afford to be out of their money for months. He believed that the bank was perfectly solvent. The cause of the disaster was the inability on the part of the officers to see that securities, however good, as in the case of Mr. Paige's firm, were ot no use for practical purposes, if anything like a panic arose. Mr. Hall was one of these who were frightened yesterday by the report that the safe deposit vault had been tampered with. He had not been able to get access to his property there for some days. Mr. Hail, in common with all the depositors, blames President Gedney for his high and mighty way of dealing with the customers of the bank. Mr. Paige said this morning that he did not attend the meeting of the directors yesterday because he had other business to attend to. He believed that it would altogether depend on what was done today and to-morrow whether the bank opened again or not. The authorities refuse to say whether the presentation of a city warrant for $10,000 was the immediate cause of the bank's closing.

14. November 17, 1890 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, November 17, 1890

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TELEGRAPHIC BREVITIES. The assignment of Mills, Robeson & Smith. which was brought about by the forgeries of the junior partner, was formally filed in New York tc-day. Willie Traub, the 15 year di boy shot with 8 rifle last week at Louisville, by Mrs. Mary Vogel, because he came into her yard after a lost marble, died yesterday. Charles Octerman, Fay Barto and Edward Brown, aged respectively 12, 11. and 14 years, were drowned yesterday while skating on Elk Lake, near Phillips, Wis. The trial of Slavin and McAuliffe, on the charge of having engaged in a prize fight, took place in London to-day. The jury could not agree, and the puglists were released. Two colored men, Wm. Johnson and Albert Brown, got into a fight early this morning in a Sixth avenue, New York, restaurant, when Brown stabbed Johnson in the sbdomen, inflicting a fatal wound. When the North River Bank case came up to-day in New York on a mo tion for a receiver it was stated that negotiations were still pending to reopen the bank and an adjourament was asked for until to-morrow and granted. A two freight trains were passing each other near Princeton, III., yesterday, a car left the track, and jumped out toward the other train, resulting in the destruction of one Incomotive and fourteen care, and killing the engineer and badly scalding the fireman. By the explosion of a large Loiler in Trexler's stove factory at Meriztown, Pa., this morning. the building was wrecked, two men were killed and seven others frightfully scalded. The dreadful spotted fever that made its appear ance last March near Gallatin, Tenn, killing about 90 per cent of the victims, has reappeared.

15. November 18, 1890 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, November 18, 1890

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WALL STREET QUIET All Danger of a Commercial Crisis Averted. JAY GOULD'S LATEST PURCHASE. Rumors that He Has Obtained Control of a Several Important Properties. Creditors of Mills, Robeson & Smith Meet To-day-870,000,000 Pledged for Baring Bros.-The North River Bank Will Not Resume-No Financial Trouble in Berlin-The Richmond Terminal Deal. NEW YORK, Nov. 18.-Wall street has taken fresh courage but the change of sentiment is tempered with caution and so lacks enthusiasm. Foreign advices are more reasuring and afford a sustaining influence to local values. It is conceded that all danger of a commercial crisis has been averted, so that the banking institutions of this city are more favorably disposed to their customers who have suffered from the recent financial distress. A secret conference was held at the Clearing House the outcome of which was not made public on the ground that the country banks might become alarmed at the enormous necessities of the financial community at present. It is understood, however, that each member of the association pledged itself to withdraw & certain amount of loan certificates, irrespective of immediate requirements, and thus fortify itself against any possible emergency. Three stock houses announced their inability to meet their engagements, but these suspensions had no perceptible effect on the values. While the market shows a disposition to rally, no material advances are recorded. Disagreeable rumors are in circulation affecting the standing of a prominent brokerage house, which it was believed might be forced to make an assignment. Jay Gould is credited with having obtained control of Union Pacific, Atchison and the Richmond and Danville group of properties. The excuse for this assumption appeared, however, to be almost entirely connected with the large purchases of the securities of those roads that were made by that gentleman's brokers.

16. November 18, 1890 Telegram-Herald Grand Rapids, MI
Article from Telegram-Herald, November 18, 1890

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MAY OPEN TODAY. The Affairs of the North River Bank, of New York. NEW York, Nov. 17.-The directors of the North River Bank, and many of the depositors who have signed the agreement not to draw their deposits for 90 days, if the bank is opened, spent yesterday circulating lists to get more signatures to the agreement. They got the signatures of depositors representing $200,000 in the bank, and that brings the amount up to $800,000, leaving only $200,000 to make the amount required. The amount will probably be signed today. The lists which the depositors sign contain a stipulation that the bank is to be opened tomorrow morning. If it 18 not opened then, the agreement will be void. The directors have not yet decided what course to pursue to raise the additional $750,000 that will be required to meet the demands of the depositors who will not sign off. The clearing house will not loan on the securities the bank holds, and some one must be found who will. The application of the Apgar estate which owns one quarter of the stock of the bank, forappointment of a receiver, will be opposed by the bank officials and by Supt. Preston when it comes up for argument in the Supreme Court today.

17. November 18, 1890 The Morning News Savannah, GA
Article from The Morning News, November 18, 1890

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NEW YORK'S CLOSED BANK. The Efforts for an A djustment Result in a Failure. NEW YORK, Nov. 17.-When the North River bank case came up before Judge O'Brien to-day on a motion for a receiver, it was stated that negotiations were still pending to re-open the bank, and an ad journment was asked for until to-morrow. The attorney general and Bank Superin tendent Preston were represented by Mr. Post, who stated that the assets of the bank were in the hands of the authorities, and no harm could result from an adjournment. He thought the prospects of success were excellent. An adjournment was granted.

18. November 22, 1890 Perrysburg Journal Perrysburg, OH
Article from Perrysburg Journal, November 22, 1890

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deaths reColony 19, from which twenty-tere lays the immediate report upon Jc. sulted. responsi bility The of the section accident master, who F. Welch, the gang of workmen seph charge of the track jack that was The was that in the using accident the power on report the train also the brake have not as of the extend THE have decided to claims in was caused Kansas leaders that great organization as it Farmers' should by establish- Alliance branch, been. the scope of assessment their life insurance similarly to ing an conducted Workmen. which the Ancient is to Order be of is United imminent cars in Nefamine of to on account Union braska A FUEL coal from of the lack points in Pacific the transport in Wyoming towns to are entirely dependent mines former State. on the Many Union Pacific coal Worth, for real an fuel. W. F. SOMERVILLE, estate, of Fort stocks and asthe on signment Tex., bonds who valued owns at $500,000, 15th. His made liabilities are $200,000. 15th West Superior, Mich., on the Hilda AT Rosa Morrison, were and a boy, name while in vessel. three drowned Berg, children, Hugitt of slip unknown, witness- facing the launch lockout a in all took the place hat on A GENERAL in Danbury, Conn., disagreement be17th Hat and the Hat sociation tories the tween the owing Fur to a Manufacturers' Trimmers' people. Union. As- reThe lockout affects at 10,000 Colfax, Wash., 11% IN a M. foot Gray race ran 125 world's yards record. in cently, breaking the New York State been says River seconds, THE Banking it has North Superintendent definitely bank decided of that the business, the directors would not resume raise the funds reAT Fort Wayne, Parker, Ind., who Tom some at time ago the over the funds compelled quired. not and Edward being Ind., able to postmaster hand to McCulloch revolver, Heller's of Corners, the office at the sentenced point of to a four years were on the 17th prison. each THE in explosion the State of & a Bro. boiler at in Mertztown, the stove and works of Trexler killed three men was injured eight Pa., on the 17th others. The foundry stock York, badly THE wrecked. firm of Randall & assigned Weirum, on the The brokers of New $431,510 preferences. Wall with was a decided surprise to Supreme Court of the of failure street. 17th. judgment United goods the THE has affirmed the that all States lower court which decided were dutiable as 35 35 at worsteds known as at diagonals 24 cents and per not pound as woolens and cent. ad percent. cents ad valorem. per pound and 35 per southNEAR valorem. KYLE, Tex., on the on 17th the Interna- a bound passenger Northern train railroad was tional & Great engine hauling the into pay run into by an coach was broken were kindling car. The wood. rear Thirty killed. persons injured, but no has one secured a controlling Topeka & JAY GOULD the Atchison, secured interest in Last May he Fe stock, as Santa Fe road. of the Santa one-fourth been since that offered at low will of Robert Ray York on least and ing figures. THE in all probate that was time in he New has Hamilton child, gather- enough was the my 17th. filed fo" He bequeaths to annuity "the of $1,200 other be paid in " Several her natural but Eva adopted ing to are daughter, made, monthly life. an installments them. Hamilton dur- be- is quests not mentioned among Court of the United renTHE Supreme Blatchford, through Justice to the effect decision on through own States, dered a injured the partly 17th from his rethat negligence person is not debarred covering damages. standard silver dollars ended THE issue of during the week issue during was from November the the mints th corresponding was $757,97 week The of last year $313,965. national convention of Union the AT the Christian Temperance the Ga., on the re-election in Women's Atlanta, resulted the in 17th, follows: election Miss of C. of officers officers as Mrs. the old Willard, president; Buell, recording Miss Pugh, State Department Moussa all tary; Mary Frances E. THE A. E. corresponding Woodbridge, treasurer. secretary; has informa- secre- Bey, Mrs. the notorious American that outrages on in that quarter engaged have so has he the Department, the of banished to missionaries tion whose the attention where reported lived summarily long of Turkey has interior of Arabia. length been The sentence been convention of A STATE be held at Alliance carried will out. purpose Harrisburg, the of Farmers' organ- dele- Pa., 26, for the electing November State Alliance and Alliance convention izing a National Decemgates to to be the held at Ocala, Fla., ber ON 2. the engine of the 17th a freight the Kansas train City, of plunged six Wyan- cars a bridge through and dotte an & Northwestern near railway Kansas City,

19. May 5, 1891 The Roanoke Times Roanoke, VA
Article from The Roanoke Times, May 5, 1891

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# Bank Officials Held for Perjury. NEW YORK, May 4.-[Special]-Edward E. Gedney, president of North River Bank, and Cashier Frank Ingersoll were placed under arrest this afternoon on a bench warrant issued by Judge Martine. They were brought before Judge Martine in part second general sessions and held in $15,000 bail each. They are charged with falsifying the quarterly report of the bank made September 27, 1890. Complaint in the case was made by the receiver of the bank, Frank Higgins. Gedney and Ingersoll both gave bail. A certain item "Resources" set forth that the bank had $124,436 in specie. It is upon this statement that perjury is alleged.

20. May 5, 1891 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, May 5, 1891

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Bank Officials Arrested. NEW YORK, May 4.-Edward E. Gedney, president of the North River bank, and Cashier Frank Ingersoll. were placed under arrest this afternoon on a bench warrant issued by Judge Martine. They were brought before Judge Martine in general sessions, and held in $15,000 each. They are charged with falsifying the quarterly report of the bank,: made June 14, 1890. The complaint in the case was made by the receiver of the bank, Frank Higgins.

21. May 5, 1891 Rock Island Daily Argus Rock Island, IL
Article from Rock Island Daily Argus, May 5, 1891

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ABBREVIATED TELEGRAMS. Jesse H. Lippincott, lessee of the American Graphiphone company, of New York, has assigned. Congressman Allen, of Mississippi, says that in his opinion Crisp of Ge orgia will be speaker of the next house. Herman Stephonski and bis wife lost their lives in a burning building in Rochester, N. Y., Monday morning. The French government will investigate the May day shooting at Fourmies by which several civilians lost their lives. About 1,700 cigarmakers at Chicago quit work Monday. Some of the employers have already acceded to the demands of their employes. An attempted rebellion in Bolivia, South America, was suppressed. a conspiracy to assassinate the president being accidentally discovered. The "writing telegraph" was tested at New York Sunday, and several signatures were received by telegraph from Pittsburg. The test was a pronounced success. Monday the treasury purchased 326,000 ounces of silver at from $0.995 to $0.997 per ounce. Census Superintendent Porter was at Chicago Monday. He said the statistics of population would be completed within a year, or two years quicker than that of 1880. Alden J. Blethen and Thomas Lowrey have purchased The Minneapolis Tribune. Ex-Senator Pierce will remain as editor. Algernon Sartoris, who married Gen. Grant's daughter Nellie, registered at the Richelieu hotel, Chicago, from London Monday. He was going west to look at his stock ranch. Rains have quenched the New Jersey forest fires. There was a severe frost in Minnesota and Dakota Saturday night, and it is feared that small fruits are damaged. The president and cashier of the New York North River bank, now in the hands of a receiver, have been indicted for falsifying an official stat ement of the bank's condition. Another collision between the coke workers and the guard of deputies occurred at Uniontown Sunday night. One of the strikers was killed and another mortally wounded. A move is on foot at Philadelphia to organize an Italo-American league, the object of which, principally, will be to make American citizens of all Italians landing on the shores of the United States. Dispatches from Transvaal, South Africa, report that 20,000 Boers are on the point of invading Mashonaland or Manicaland, and the authorities of Transvaal are unable to fulfill their premises to prevent any further encroachment on British territory.

22. May 5, 1891 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, May 5, 1891

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# A Bank President Arrested. NEW YORK, May 4.-Edward A. Geaney, president of the North River bank, and Cashier Frank Ingersoll were placed under arrest this afternoon on a bench warrant issued by Judge Martin. They were brought before Judge Martin in general session and held in $15,000 bail each. They are charged with falsifying quarterly reports of the bank made on June 14, 1890. The complaint was made by the receiver of the bank, Frank Higgins. Both officers gave bail and were released.

23. May 15, 1891 Iowa County Democrat Mineral Point, WI
Article from Iowa County Democrat, May 15, 1891

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CRIMINAL. ALFRED TOWNLEY, a gambler. was shot and killed by his wife in the jai! of Austin, near Chicago. AT Logansport, Ind., Saturday, Martin Griner killed Anna Keyster. his mistress, and afterward committed suicide. CASHIER J. K. BRANTLY. of the St. Louis Iron Mountain & Southern is alleged to be $20,000 short in his accounts. MRS. CONN ELLY, aged 110 years, committed suicide at Hazelton, Pa., rather than be sent to the alms house. AN express car attached to a train on the Santa Fe road, near Guthrie, O.T., was boarded by robbers Saturday, but the presence of mind of the messenger saved all but $500 of the treasure. DANIEL FRIED, proprietor of a dime museum in Brooklyn, N. Y., shot himself three times Wednesday morning and died almost instantly. STRIKING quarrymen near St. Louis Tuesday drove the negroes who had taken their places away from two quarries and carried off all the tools. COLONEL DORSES, who eloped with Mrs. Massey from Douglasvile, Ga., is a defaalter, having carried away nearly $30, 000 of trust money in his flight. PRESIDENT E. E. GEDNEY and Cashier F. R. Ingersoll of the defunct North River bank of New York were arrested Monday for perjury in connection with the bank's affairs. PRESIDENT MARSH and Cashier Lawrence of the suspended Keystone National bank at Philadelphia are charged with conspiring with the late President Lucas in looting the bank of $1,000,000 CHARLES J. DICKSON, a Pueblo crank, has been arrested at New York for threatening to kill Juy Gould unless the latter COAtributed $5,000,000 to a mythical organization he called "Christ's followers.' FRIDAY evening strikers at Waveland, Ind., after they had t'ed up the road for back pay due them, stoned a passenger train, overpowered the crew and seriously injured a traveling man from Crawfordsville, Ind. He was badly cut about the head. FRIDAY night at 11 o'clock Solomon Etaw set fire to Mr. B. B. Bennett's residence in Weston, W. Va. Bennett extinguished the fire. An hour later Etaw returned and shot Bennett dead in his bedchamber. Etaw is under arrest. ANDREW A. MEYER, treasurer, and R. P. Walker, a director of the Eastern Investment company of Boston, were arrested for making alleged fradulent representations about the concern.

24. January 12, 1893 New-York Tribune New York, NY
Article from New-York Tribune, January 12, 1893

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# JOHN HUNTINGTON DEAD. DYING IN LONDON WHILE ON HIS WAY TO AMERICA. ONE OF THE FIRST MEN TO MAKE A FORTUNE FROM THE STANDARD OIL COMPANY-THE, ALLEGED FORGERIES OF HIS NAME ON DAVID R. PAIGE'S NOTES. Cleveland, Jan. 11. The cable brought the in- telligence this morning that John Huntington died on Tuesday in London. He had entirely recovered from the stomach trouble for the relief of which he went to drink of the waters of Carlsbad, and had left Dresden and was in London on his way home. There he was taken with a severe cold which resulted in inflammation of the lungs. Mrs. Huntington is accompanied by Mrs. Morgan, of this city. She will start for home with the body as soon as the necessary arrangements can be made. A little less than two years ago his son Arthur G., aged twenty-five, was killed by being run over by a train at Amherst, Ohio. The children living are William R. Huntington, Mrs. A. C. Hurd, Mrs. E. A. Merritt, of Cleve- land, and Mrs. J. P. Smith, of Chicago. To the home-coming of Mr. Huntington was attached more than usual significance, as it was expected that he would give his attention to the Paige defalcation troubles and throw much addi- tional light upon them. Mr. Huntington was born in Preston, Lancashire, England, March 8, 1832. His father was Hugh Huntington, a pro- fessor of mathematics at Ormskirk, Lancashire, and later founder of Trinity School, Preston. Mr. Huntington emigrated to America when he was twenty-two years old, landing here August 10, 1854, and came direct to Cleveland, where he has ever since made his home. The discovery of petroleum in Pennsylvania in 1859 at- tracted his attention, and he entered the business of refining oil with Clark, Payne & Co., in December, 1863. The Standard Oil Company was formed by the con- solidation of the firm of Clark, Payne & Co. with several others. On March 8, 1889, Mr. Huntington celebrated the fifty-seventh anni- versary of his birth by founding a trust fund for the benefit of the charitable institutions of Cleveland. He set aside $200,000 of the stock of the Cleveland Stone Company, of which he was the president. It is expected that his will will give considerable more to charity and art His home on Prospect-st. contains one of the filest art collections in the State. The death of John Huntington recalls the prominent part the signatures of Mr. Huntington played in the tangled affairs of the firm of Paige, Carey & Co., the aqueduct contractors and wreckers of the North River Bank. The alleged forgeries of the name of John Huntington as indorsements on Paige's notes at any rate resulted in making David R. Paige, who formerly occupied expensive apartments in Park-ave. In this city, a fugitive from justice. Joseph Paige, who was cashier of a bank in or near Cleveland, was found guilty of swindling the bank, and was sent to the penitentiary. David Paige at the present time is said to be in the Argentine Republic, while his brother is serving out his sentence in prison. Several stories are told about the Huntington for- geries which are said to amount to $400,000. When the loose methods of Paige, Carey & Co., became known, Mr. Paige's representative who was found at the Broadway offices of the firm, said that the indorse- ments which were questioned were genuine, and that they had been obtained from Mr. Huntington by Mr. Paige when abroad. He also said that he had obtained two successive renewals of the paper. When he was asked where Mr. Paige could be found he said that he had probably gone to Europe to see Mr. Huntington for the purpose of settling the matter of the notes. It was learned afterward, however, that Mr. Paige, instead of going to see Mr. Huntington, had gone in the opposite direction. Mr. Huntington as soon as he heard about the $400,000 worth of paper which he was alleged to have indorsed, cabled to his represent- atives in Cleveland that he had not indorsed any notes for a large amount for years. The result was a panic in Cleveland, as the forged paper had been widely distributed there. John Huntington's signa- ture was as good as gold in Cleveland as it was known that his estate was worth at least $3,000,000, if not $5,000,000. He was one of the men who first made a fortune in the Standard Oil Company, and who re- tired from business six or seven years ago. In the summer he lived in Carlsbad, and in the winter in Southern France. Mr. Paige had transacted much business for Mr. Huntington in Cleveland, and as he was related to him by marriage, besides being at the head of a large firm of contractors in New-York, no surprise was expressed in Cleveland when notes amounting to hundreds of thousands of dollars in- dorsed by Mr. Huntington were placed on the Cleve- land market by Mr. Paige. Future developments, in addition to the denial from Mr. Huntington, showed that the signatures had been forged with the idea that Mr. Huntington, who was then seriously ill abroad, would not recover, and the forger hoped that the bogus signatures would not be discovered before Mr. Huntington's death, and that their genuineness would never be questioned. Things turned out differ- ently, though. In addition to the Cleveland losers, the creditors of the old North River Bank, which for so long a time has been in the hands of a receiver, may be victims, as several hundred thousand dollars of the forged paper is part of the assets of the bank- rupt bank, of which David R. Paige was a director when it failed. The receiver's attorneys hold that the Huntington signatures on Paige's notes are genuine.