gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
9caa495587c6648b
Response Measures
None
Events (3)
1.May 24, 1884Run
Cause
Bank Specific Adverse Info
Cause Details
Defalcation by paying teller C. A. Hinckley (~$96,000) sparked depositors to withdraw funds.
Measures
Officers promised a statement; books examined by bank examiners; bank later suspended as precaution.
Newspaper Excerpt
There was a considerable run on the West Side Bank this morning.
Source
newspapers
2.May 24, 1884Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suspension followed the teller's embezzlement and refusal of American Exchange/clearing agent to clear for the bank; described as precautionary.
Newspaper Excerpt
At 1.30 p.m. the bank suspended
Source
newspapers
3.May 31, 1884Reopening
Newspaper Excerpt
The West Side bank of New York will shortly resume business. / The West Side Bank, of New York, reopened on Saturday.
Source
newspapers
Newspaper Articles (18)
1.May 24, 1884The Salt Lake HeraldSalt Lake City, UT
Click image to open full size in new tab
Article Text
Goings On In Gotham. New York, 23.-The insolvent schedule of the firm of Owens & Mercer was filed to day. Liabilities $200,468, nominal assets $888,307, actual assets $28,045. Judge Donohue granted several orders permitting Receiver Davies of the firm of Grant & Ward, to adjust claims of creditors. James Keene this & fternoon told a reporter he expected to be able to pay his debts in fall if his creditors would give him a little time. To this end he makes a proposition to holders of his obligations. adjusted and unadjusted, to accept his notes dated May 1, 1884, for the full sum due them on that day, payable in twelve and eighteen months. For privileges not matured on that day he proposes to give notes for amounts received by him when the privileges were issued. Charles A. Hinkley, paying teller of the West Side Bank, Eighth avenue and Thirty-fourth street. embezzled $96,000 of the bank's funds and decamped. The embez zlement was discovered on Wednesday last. Hinkley did not appear at the bank on Wednesday morning, and not answering to a summons sent to his house, it was suspected that something was wrong. The books were overhauled and a large deficit detected. Bank officers certify that the capital stock $200, 000 is intact, and there is a surplus of $100,182. Hinkley has been connected with the bank as its paying teller ever since its organization, fifteen years ago, and was regarded as a man of most rigid integrity. Half a dozen detectives and deputy officers ΠΈ atched the house of John C. Eno to night, servants admitted only intimate friends, Eno, is in bed sick.
2.May 25, 1884The Daily Cairo BulletinCairo, IL
Click image to open full size in new tab
Article Text
UNABLE TO MAINTAIN DISCIPLINE, and among the passengers only a few were able to save themselves. Many clung to the rigging after the first shock, thinking the vessel would stand the strain, and they might be picked up when the fog cleared, but when the vessel went to pieces they were all lost. Only $96,000. NEW YORK, May 24.-There was a considerable run on the West Side Bank this morning. Cashier Dobler said that Hinckley had not been heard of, but the deficit is not over $96,000.
3.May 25, 1884The Daily DispatchRichmond, VA
Click image to open full size in new tab
Article Text
Bank-Suspension. [By telegraph to the Dispatch.] NEW YORK, May 24.-The West-Side Bank suspended this afternoon. It was not a member of the clearing-house, and the American Exchange. Bank refuse to clear for them any longer.
4.May 25, 1884The Salt Lake HeraldSalt Lake City, UT
Click image to open full size in new tab
Article Text
Bank Frauds. New York, 24.-In the West Side bank this morning Cashier Dobler refused to speak of the bank or its affairs. At 1.30 p.m. the bank suspended, and Dobler's silence was expiained. President George Moore says he closed because the American Exchange cleared for him. He said he had plenty of money to stand a run all day, but wanted to treat all the depositors as fairly as possible. Books are being inspected by two bank examiners. The president says they will have their statement ready shortly. The bank paid no interest; the directors and offi cers of the bank were in the building all day, but they refused to talk. All kinds of rumors are about in regard to Hinkley's defalcation. One was tbat Hinkley didn't content himself with $96,000. Hinkley is not yet heard from. President Moore said that he was sure that after the books are thoroughly examined no greater amonnt than $96,000 will be found missing, and that resumption of business will take place shortly.
5.May 25, 1884The Salt Lake HeraldSalt Lake City, UT
Click image to open full size in new tab
Article Text
Another Run. New York, 24.-There has been a small run on the West Side Bank this afternoon, owing to the $96,000 defalcation of Hinckley, paying teller. The erowd of depositors flocked in and drew their money. Many only drew a portion. The officers of the bank refused to say anything of the defalcation, but promised & statement. Hinekley has not been heard of yet. The bank does not anticipate much of a run, and has a surplus of many thousands. It is stated the to'al liabilities are $1,800,000, and the bank had to meet them $1,700,000 in business paper and $200,000 in money; $600,000 of the paper matures within the next three weeks. It is understood some banks of the Clearing House Association were asked to share with the American Exchange the responsibility of assisting the West Side Bank. The proposal was not aecepted, however, and then the American Exchange refused to continue making its changes.
6.May 26, 1884Evening StarWashington, DC
Click image to open full size in new tab
Article Text
Bank Officers in Jail. THE RESULTS OF SPECULATION-PRECIDENT JOHN a ENO EVADES ARREST-SUSPENSION OF SIDE BANK, ETC. James D. Fish, the late president of the Marine bank, was arrested last night at the Mystic flats, where, it is said, he has been in concealment The warrant was based upon an amdavit of Bank Ex. aminer Scriba, who states that Fish misappropriated $1,141,000 of funds belonging to the bank, by to Grant & Ward. These amounts were on the bank's books as loans to imaginary and secured by imaginary collateral. Ferdinand Ward, in Ludlow street Jall, says that as HOOD as his nerves are composed be will prepare a public statement. Yesterday he was visited by his wife, his lawyer and his brother-in-law. A warrant was issued Saturday for the arrest of John C. Eno, the president of the Second National bank, on the complaint of the directors. thor. ough search of his house failed to and him, and he is believed to have fied. Adam Brahender, president of the defunct Erte county, Pa., savings bank, is now in Jail. He lost about $250,000 of the bank's money in oil and grain speculation. The run on the West Side bank, New York city caused by the defalcation of the paying teller of $96,000, mentioned in Saturday's STAR, resulted on Saturday afternoon in the suspension of the bank The officers state that they will have a surplus of $1,000,000 after paying all depositors, and they suspended only as a matter of precaution.
7.May 28, 1884The Semi-Weekly MinerButte, MT
Click image to open full size in new tab
Article Text
A Slight Run. NEW YORK, May 24.-There was a : light run on the West Side bank this afternoon, owing to the $96,000 defalcation of Hinckley, the paying teller. A crowd of depositors flocked in and drew their money. Many only drew a portion. The officers of the bank decline to say anything of the defalcation, but promise a statemen. Hinckley has not been heard of yet. The bank does not anticipate much of a run as it has a surplus of many thousands.
8.May 28, 1884The Semi-Weekly MinerButte, MT
Click image to open full size in new tab
Article Text
Another Bank Gone Under. NEW York, May 24.-In the West Side bank this morning Cashier Dobler refused to speak of the bank or its officers. At 1:30 p. m the bank suspended. President George Moore says he closed because the American Exchange refused to clear for them. He said the bank had plenty of money tostand the run all day, but wanted to treat all depositors fairly. The books are being inspected by two bank examiners. The President says he will have their statement ready shortly. The bank paid no interest. The directors and officers of the bank were in the building all day but refused to talk. All kinds of rumors are afloat in regard to Hinckley's defalcations. One was that Hinckley did not content himself with $96,000. Hinckley has not yet been heard from. President Moore said that he was sure after the books had been thoroughly examined that no greater amount than $96,000 woul 1 be found missing and that a resumption of business would take place abortly. NEW YORK, May 24,-It is stated the total liabilities were 1,900,000, and the bank met them with 1,7,0,000 in business paper and $200,000 in money; -$600,000 in paper matures in the next three weeks. It is under>tood some banks of the Clearing House association were asked to share with the American Exchange the responsibility of assisting the West Side bauk. The proposal was not accepted, however, and then the American Exchange refused to continue making its exchanges.
9.May 28, 1884The Daily EnterpriseLivingston, MT
Click image to open full size in new tab
Article Text
THE LATEST NEWS. Northern Pacific preferred, on Monday, 424 and rising. Reid & Smith, merchants of New York, have assigned. Strong's bank at Green Bay, Wis., closed its doors this morning. No particulars. At Havana, Cuba, there were thirteen deaths from yellow fever during last week. The Chinese government will exhibit a silk house in operation at the New Orleans exposition. At Belle Plain, Ia., Samuel Dunlap shot his wife SO she will die and then cut his own throat. Motive unknown. The strike among the cotton mill operators at Fall River, Mass., is ended. Most of them accepted the reduced wages. The West Side bank of New York will shortly resume business. Nothing is known of the whereabouts of Hinckley, the defaulting teller. At Oak Creek, Wis., Horace Baldwin's dead body was much too long for the coffin and his relatives sawed his feet off to make a fit. James D. Fish, ex-president of the insolvent Marine bank of New York, who was arrested, was admitted to $30,000 bail, which he furnished. A distinguished party left Washington on Monday for Annapolis. It included the president of the senate, speaker of the house, members of the senate and house committees on naval affairs and appropriations, Admiral Porter, General Sheridan. ministers of England, Russia. Germany and France, and the Maryland congressman.
10.May 28, 1884New-York TribuneNew York, NY
Click image to open full size in new tab
Article Text
The suspension of the bank should not be considered as a reflection upon its solvency. Such action was taken as a precautionary measure, and was fully testified by the refusal of its clearing house agent to clear for it. The bank will be ready to transact business so soon as arrangements are made with another bank to represent it in the Clearing House. It may be added that generally speaking the West Side Bank has been unusually well managed and that all losses from discounted paper since August 2, 1869, the time of its incorporation, to the date of its closing, do not exceed $10,500. The bank expects to resume business on Thursday next.
11.May 29, 1884Plateau Gazette and East Tennessee NewsRugby, TN
Click image to open full size in new tab
Article Text
C. A. Hinckley, the teller at the West Side Bank, New York, who lelt his post with $90,000, occasioned a run on the Bank, and its subsequent suspension.
12.May 29, 1884Weekly Phoenix HeraldPhoenix, AZ
Click image to open full size in new tab
Article Text
FIRST MESSAGE. ROCKPORT. Mass., May 28-The first message by the commercial cable was received at Rockport yesterday afternoon. AN ARKANSAS BANK CLOSED. HOT SPRINGS, Ark., May 28-The Hot Springs National Bank closed its doors yesterday, owing to a run on the reported absence of the President, Andrew Brown. Liabilities, $40,000. A run has commenced on the Arkansas National Bank, at Hot Springs, which is understood to be in good condition. Great excitement.. WILL RESUME. NEW YORK, May 27.-The West Side bank claims that it will shortly resume. Nothing is known of the whereabouts of the defaulting teller, Hinckley,
A SMALL CRASH. I NEW YORK, May 24.-In the west side bank this morning, Cashier Dobler refused to speak of the bank or its affairs. At 1 o'clock p. m. the bank suspended, and Dobler's silence was explained. President George Moore says they closed because the American exchange refused to clear for them. He said, further, they had plenty of money to stand a run all day, but he wanted to treat depositors fairly. The books are being examined by two bank examiners. The president says they will have their statements ready shortly. This bank paid no interest. The directors and officers were in the building all day, but refused to talk about the suspension. All kinds of rumors were about in regard to Hinckley's defalcation. One was that Hinckley did not content himself with $96,000, Hinckley has not been heard from yet. President Moore said he was sure, after the books had been examined no greater amount than $96,000 would be found missing, and that resumption in business will take place shortly. When notice was given that the bank had suspended depositors turned away. On the closed doors the following notice was posted: "With deepest sorrow we have to announce the suspension of this bank. A statement will be prepared at once. Depositors will be paid in full, and we hope to resume again and merit the continuance of your past favors."
14.May 31, 1884The Milan ExchangeMilan, TN
Click image to open full size in new tab
Article Text
MISCELLANEOUS. THE House Committee on Public Health has made a report that it would be unwise to confer upon the National Board of Health the management of quarantines and epidemics. IN the case of William Spence, accused of murdering Ed. S. Wheat at Nashville, Tenn., the motion for a new trial was denied, and Spence was sentenced to be hanged on the 18th of July. THE Senate Committee on Territories instructed Senator Vest to report adversely the bill to change the Eastern and Northern Judicial Districts of Texas and to attach thereto, for judicial purposes, a portion of the Indian Territory. ON the 24th the Union Bank of Uhricksville, O., suspended. A SMALL run was made on the West Side Bank, New York, on the 24th, caused by the defalcation of Hinckley, the paying teller. ON the 24th commetaoration exercises of the founding of the Protestant Episcopal Diocese of Pennsylvania were celebrated at Philadelphie.
15.June 2, 1884The Daily EnterpriseLivingston, MT
Click image to open full size in new tab
Article Text
THE LATEST NEWS. The West Side bank of New York has resumed business after its suspension. The firm of D. W. Middleton & Co., bankers at Washington, has assigned. Harvey D. Parker, proprietor of Boston's leading hotel,the Parker house, is dead. The failures of last week in the United States and Canada was 177-55 less than the week preceding. Heavy frosts have done great injury to vegetable and fruit crops in the eastern and middle states. At Philadelphia during a quarrel between a man named Fitzpatrick and his wife, their son interfered and struck his father, when the latter killed his son. Nubar Pasha, Prime Minister of Egypt, is prepairing a statement to the powers showing that Egypt is unable to support the present rate of taxation. The land tax is often greater than the gross value of the crops. Ar explosion of dynamite wrecked the building called Scotland Yard occupied by the London detective force. Five persons were injured, probably fatally, and several others less seriously. The dynamite had been placed in an unused part of the building and exploded by a fuse. Rochfort, the celebrated Paris journalist, makes a violent attack through his paper on Gen. Grant on the ground that he was openly unfriendly to France during the Franco-Prussian war and since-an unfriendliness which Rochfort says was intended to capture the German-American vote at future elections.
16.June 2, 1884The Indianapolis JournalIndianapolis, IN
Click image to open full size in new tab
Article Text
Notes. Barber & Co., Woolen merchants, of Toronto, Ont., assigned on Saturday, with $80,000 liabilities. The West Side Bank, of New York, reopened on Saturday. Depositors drew out $13,000, and paid in $300,000. A Greensburg, Pa., special says the depositors in the Union Deposit Company will not receive three cents on the dollar. D. C. O. Howard, charged with robbing a Monmouth, IH., bank of $150,000 was arrested on Saturday at Waukesha. At New York Ferdinand Ward made a assignment on Saturday. His individual liabilities are $659,000; nominal assets, $977,000; actual assets, $3,500. Stratton & Co., of Petersburg, Va., wholesale liquor dealers, confess judgment in favor of the Planters' and Mechanics' Bank, to which they are indebted $33,000. Jas. Hanson, sash. door and blinds manufacturer, 231 West Third street, Cincinnati. has assigned for the benefit of creditors. Assets about $15,000; liabilities in excess of assets.
17.June 6, 1884The Kenosha TelegraphKenosha, WI
Click image to open full size in new tab
Article Text
a decrease in deposits of $8,214,000, and that they held $1,997,625 less than their legal requirements. BUSINESS has been resumed by the West Side Bank at New York after'a short suspension. TOTAL liabilities of $729,231.11 were showed by the schedules of Ferdinand Ward filed at New York on the 31st ult., with actual assets of only $3,500. The nominal assets were placed at $977,871.85. J. F. HOYT, cashier of the Butler County Savings Bank at Millerstown, Pa., was on the 31st ult. discovered to be $22,000 short in his accounts. AT Philadelphia on the 2d the United States Circuit Court appointed Stephen N. Caldwell, Edwin M. Lewis and George De B. Keim receivers of the Reading Railway Company, and issued an injunction restraining any interference with the receivers. A FIRE a few nights ago destroyed the Ware River Mill at South Barre, Mass., causing a loss of $100,000. THE well-known New York firm of brokers, Fisk & Hatch, who suspended during the recent crisis, announced their resumption of business on the 2d.
18.June 19, 1884The SunMorris, MN
Click image to open full size in new tab
Article Text
How are the Mighty Fallen? New York Letter. The calamities connected with the recent panic culminated in the suicide of Thomas Grinnell. He was in a good financial condition, but was the victim of fear and anxiety to a degree that drove him mad. No one out-side of Wall street can form any idea of the intensity of the excitement at such a time. The deceased was a brother of George B. Grinnell (also a leading stock operator), and the tragedy throws a shadow over a wide circle of the highest class of societv. Other fatal consequences may be expected, and indeed it is expected that the Ward & Grant collapse will kill Gen. Grant. He is much shattered and has really suffered more than he did during the whole war. The friends of James D. Fish also say that this will be the death of him. A few days ago he considered himself worth a million and a half and was president of a bank whose stock was in demand at 167. Now the bank is ruined and he has been arrested and is under bail. Considering his time of life, it would not be surprising if these misfortunes proved fatal. George I. Seney, being younger, has a better chance of surviving. but he too is a ruined man. and has ruined one bank (the Atlantic) and has almost ruined another (the Metropolitan), besides the injury inflicted on the West Side bank. As one views the array of prostrate magnates one cannot but exclaim: "How are the mighty fallen?"
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
