North River Savings Bank (New York, NY)

Episode Information

Episode UID
1019270911
Episode Type
Run Only
Bank Type
savings
Bank ID
101927 routing
Routing Number
1-0192
Start Date
November 30, 1875
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
cadd8344dad7a575

Response Measures

None

Events (2)
1. November 30, 1875 Run
Cause Details
Reported slight run among savings banks; article gives no specific trigger beyond depositor nervousness.
Measures
Demands were met and depositors were promptly paid.
Newspaper Excerpt
there was a slight run on the North River Savings Bank.
Source
newspapers
2. October 9, 1876 Run
Cause
Rumor Or Misinformation
Cause Details
Quarrel between the bank's president and other trustees stirred rumors and depositor alarm.
Measures
Paid depositors promptly; money sent from West Side Bank ($20,000) to meet withdrawals; officials kept doors open and satisfied depositors.
Newspaper Excerpt
There was a slight run on the North River Savings Bank to-day. All the demands were met and aid from sister banks was declined.
Source
newspapers

Newspaper Articles (12)
1. November 30, 1875 New-York Tribune New York, NY
Article from New-York Tribune, November 30, 1875

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New-York Daily Cribune. FOUNDED BY HORACE GREELEY. TUESDAY, NOVEMBER 30, 1875. THE NEWS THIS MORNING. FOREIGN.-Part of the Russian garrison at KhoTwelve hundred Egypkand was massa red. Voting tians were killed by the Abyssinians. by districts was finally adopted by the French M. de Lesseps approved National Assembly. of the purchase of the Suez Canal shares by England. DOMESTIC.-The United States Supreme Court gave a final decision in the great Union Pacific suit There will be no in favor of the Company. The reGovernment gold sales in December. port on frauds in the construction of the new State Capitol was unanthorized. E. S. Tobey has declined the Indian Commissionership; Mr. Smith is Fernando retained as clerk by Mr. Chandler. Wood withd raws from the Speakership contest. Dr. Manning delivered a glowing eulogy at the Wilson ceremonies in Boston. CITY AND SUBURBAN.-War ramors growing out of transfers of troops to the South were shown to be The prosecution ask for a struck unfounded. The Senate Investigating jury for Tweed. Committee examined the Dock Department. The examination of the Third Avenue Savings Bank officers on a charge of perjury was begun ; there was a slight run on the North River Savings Bank. Charges of irregularities in the management of the Gold, Missouri Pacific Railroad are made. 11458, 11412, 114% Gold value of the legal-tender dollar at the close, 87210 cents. THE WEATHER.-The Government report predicts In this city cold weather and possibly rain. yesterday the day was cold and gusty; thermometer, 45ยฐ, 44ยฐ, 16ยฐ.

2. December 1, 1875 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, December 1, 1875

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Run on Savings Banks. NEW YORK, November 30.--There is still n little excitement hmong the depositors in savings banks, and n slight run was made to-day on the Franklin Savings Bank, which has plenty of money and is paying everybody as fast as possible. The run commenced yesterday on the North River Savings Bank was continued today, but there is less anxiety among the depositors, who were promptly paid.

3. December 1, 1875 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, December 1, 1875

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FINANCIAL. NEW YORK, Nov. 80.-Theie is still & little excitement among depositors in the savings banks, and B slight run was made to-day on the Franklin Savings Bank," which has plenty of money, and is paying everybody as fast as possible. A run commenced yesterday on the North River Savings Bank continued to-day, but there is less anxiety among depositors, who were promptly paid.

4. December 2, 1875 The Sun New York, NY
Article from The Sun, December 2, 1875

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THE END OF THE FRIGHT. Yesterday in those of the Savings Banks that have Stood R Run. The run on the North River Savings Bank, at 478 Eighth avenue, and on the Franklin, at 658 Eighth avenue, ceased entirely yesterday, the depositors being apparently satisfied with the assurance in THE SUN that the banks named could pay dollar for dollar. At the Mechanics' and Traders' Savings Bank. 283 Bowery, a number of depositors assembled in the morning, seemingly anxious to get their money. There was also a line of persons who wished to deposit money. The clerks seemed more accustomed to their work than on Tuesday, and paid rapidly and promptly. Toward evening the demand for money diminished. and a number went away expressing confidence in the institution. The President, Mr. A. ฮ“. Conklin, said : ** The statement of last year does not apply to the bank now. The suspense account of $39,127 07 represented money in litigation, which h is been recovered, and is now an asset. The judgment secured by real estate. $5,178 48. is against a man who is very wealthy, and is entirely good. Our stocks and bonds were placed at the lowest m rket value, and we can get more for them now. We hold no town bonds. Our bonds are all State, city, and county. As for our real estate, we have been offered $147,619.27 for the site, but in our report we put it at only the cost. $126,646.77. We have a genuine surplus of $80,000, for, unlike some other banks. our de: 08118 have increased this year instead of decreasing." Mr. Conklin added that the bank had met with some losses during the Presidency of a former trustee, which had been fully repaired. The bank. he said, would not require any sixty days' notice. but would pay everybody that called. He had received offers from other banks to take up all his securities. He added, Although I don't like a run. I would rather have it now than pay interest in January." The trustees of the Mutual Benefit Savings Bank have been discussing whether they will put in enough money to start the bank again. They will probably resolve to do SO.

5. October 9, 1876 New-York Tribune New York, NY
Article from New-York Tribune, October 9, 1876

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BANK TRUSTEES AT VARIANCE. OPPOSITION TO THE PRESIDENT OF THE NORTH RIVER SAVINGS BANK. The trustees of the North River Savings Bank, at Thirty-fourth-st. and Eighth-ave., opposed to John Hooper, the President, have introduced into the board a resolution to remove him from office. These trustees allege that Mr. Hooper is unfriendly to the bank, and has secretly circulated reports intended to injure it. Mr. Hooper says that he was reelected in January last by a majority of two votes, and by the recent death of two of his supporters his opponents are now in the majority. He declares that he has worked faithfully to build up the bank, and the opposition to him arises from the determination of certain trustees to obtain control of the management. He asserts that he has proteeted the depositors by preventing doubtful loans, and will not permit the funds of the bank to be loaned on any other than first-class securities. He has not received any salary. The official statement of the condition of the bank shows assets about $800.000 and liabilities $750,000, leaving a surplus of $50,000. Apparently the securities and property of the bank are of the very best character, consisting of bonds secured by mortgages, New-York and Brooklyn city bonds, State bonds, Utica and Kingston city bonds, call loans on United States bonds, and cash in banks and trust companies. There are no doubtful assets. A few of the depositors, having heard rumors of the want of harmony among the trustees, called for their deposits on Saturday, but afterward concluded not to withdraw them. The bank, it is said, does not own any real estate, and is not carrying any over-due loans. The trustees opposed to Mr. Hooper charge that he is inethcient, and assert that a new man would do better for the bank.

6. October 10, 1876 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, October 10, 1876

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NEW YORK. The Savings Banks. NEW YORK, Oct. 9.-The run on the Northwest Savings Bank continues, aud a run was begun to-day on the German savings bank of Morrisania. Both banks are believed wholly safe. Proceedingsagainst Tweed and Sweeney. The struck juries for the trial of the million dollar suit against Tweed, and the seven million suit against Sweeney, appeared at the adjourned term of the Supreme Court before Judge Westbrook this morning. The judge stated that he had been assigned to Ulster circuit, and no other judge being available the cases were adjourned to Nov. 13th. There was a slight run on the North river savings bank to-day. All the demands were metand aid from sister banks was declined. Scull Race. The junior scull race at Greenwood Lake today, two miles, was won by Orr of the Seo wanhakos in 14.15; Mann of the Argonautas second; Mills of the Atalantas third; Conlen of the Friendships fourth. Imprisonment for Life. David Henry Peterson, a young negro, was convicted to-day of murder"in the second degree in killing his colored mistress and sentenced to imprisonment for life. Pools on Ohio and Indiana. Pools were sold to-night on the Indiana and Ohio elections. The betting on Indiana ranged from $100 to $80 down to even on Williams, and the same betting prevailed regarding Harrison. The betting as to Ohio on Barnes ranged trom 100 to 35 and 100 to 25, with many takers in the field. Pools on the result in the state of New York were sold, and 800 to 100 was offered that Tilden would not carry the state, and 500 to 100 that he would not carry it by 40,000 majority. Both bets were taken.

7. October 10, 1876 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, October 10, 1876

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NEW YORK. Gold from England. New York. October 9. Twenty-five thousand pounds of British gold bars were received at the assay office from London, to-day. A Reported Panic. A special from St. Petersburg reports a panic on the stock exchange there. But as the report has DO effect on the London market no credence is attatched to the report. Convicted of Murder. David Henry Peterson, a young negro was convicted to-day, of murder in the second degree, for killing his colored mistress-sentenced to imprisonment for life. Run on a Savings Bank. There was a slight run on the North River Savings Bank to-day. All the demands were met and aid from sister banks was declined. Scull Race. The Junior scull race at Greenwood Lake, today. for two miles, was won by Orr, of the Sea wauhakas in 14.15. Mann of the Arguantas 2d, Mills of the Atlantas 3d, Canlen of the Friendship 4th. Pool Selling. Pools were sold to night on the Indiana and Ohio elections. The balloting on Indiana ranged from $100 to $80 down to even on Williams, and the same betting prevailed regarding Harrison. The betting as to Ohio, on Barnes, ranged from 100 to 35 and 100 to 25, with many takers in the field. Many polls on the result in the State of New York, were also sold, and $80 to $100 was offered that Tilden would not carry the State, and $500 to $100 that he would not carry it by 40,000 majority. Both bets were taken.

8. October 10, 1876 New-York Tribune New York, NY
Article from New-York Tribune, October 10, 1876

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Other savings banks rans are announced, but seem not likely to produce bad results except to frightened depositors who withdraw their accounts. In the case of the North River Savings Bank, a quarrel between its President and the other trustees appears to have occasioned the immediate trouble; but savings bank depositors are generally in a frame of mind in which it takes very little to worry them.

9. October 10, 1876 The New York Herald New York, NY
Article from The New York Herald, October 10, 1876

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SAVINGS BANK EXCITEMENT. QUARREL BETWEEN THE OFFICERS OF THI NORTH RIVER BANK-MEETING OF THE DE POSITORS OF THE ABINGDON SQUARE BANK. The excitement consequent upon the failure of SC many of the savings banks of this city and viciuity au) pears to have slackened for the present, though no one is able to say if the list of suspensions is yet complete. When so many supposed institutions of savings are found to be "institutions of losings" it is not surprising that a state of feverish anxiety should prevail among depositors generally. The runs of Saturday upon the German Savings Bank THE NORTH RIVER SAVINGS BANK. The run upon this bank, which begun on Saturday, continued yesterday, though toward night there were signs of a reaction. The bank threw open its doors at a little earlier than usual and kept them open until all the depositors who desired their money were satisfied. It is understood that to meet these demands money was sent from the West Side Bank to the extent of $20,000. For this amount ample security was given in Brooklyn city bonds. The secretary, Mr. W. B. Stafford, stated that the amount withdrawn yesterday was between $25,000 and $30,000. About five out of six of those who came to get their money were deterred from doing so by the timely warning of the officials. Mr. Stafford says they received deposits all day, which is an evidence of the one-sided nature of the run. "We can pay dollar for dollar," said Mr. Stafford, "aud still have $80,000 remaining." The surplus upon July 1 was nearly $72,000, as shown by the following official statement made on that date:$809,617 38 Assets Total liabilities 737,662 11

10. October 12, 1876 The Sun New York, NY
Article from The Sun, October 12, 1876

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Getting Out of Deep Water. The promptness with which the demands of depositors were met has had the tendency to restore confidence and entirely stop the run on the North River Savings Bank. Mr. Stafford, the Vice-President and Secretary, says that the most perfect harmony exists now among the trustees and officers. "The bank," he says, "has a surplus approximating $30,000. the full amount it is allowed to carry under the law, and is prepared to meet any further demands that may be made upon it.' Mr. George Moore, the President of the West Side Bank, has written a personal letter to Mr. Stafford in explanation of his statement published on Tuesday. He save that he did not intend to be understood as in any way attacking the perfect soundness of the bank: on the contrary, be would guarantee to take the assets now and pay all the debts with. in sixty days, and still have a surplus equal to what is represented by the last statement of the trustees.

11. May 30, 1877 The New York Herald New York, NY
Article from The New York Herald, May 30, 1877

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DECISIONS. SUPREME COURT-CHAMBERS. By Judge Barrett. Spetlmann vs. Helienstein.-Motion dismissed, with $10 costs and stay vacated. Jocket VS. Cull.-Motion for a receiver granted, with $10 costs. Pentz vs. Guilfoyle.-Motion granted, with costs, and $10 costs of motion, unless plaintif, within five days, pay $10 costs of motion and stipulates to reter the action to a referee to be agreed upon or to be named by the Court and to proceed de die in order be1ore such referee on five days' notice. Wilson vs. Barney.-Report confirmed and account approved. Francis VS. Republic Fire Insurance Company.-Order of May 22 set aside, without costs, and motion granted. Morgan vs. Jeremiah.-Motion granted on the payment of the costs which have accrued since the original answer was interposed and $10 costs of this motion and stipulating to ask no delay of the trial in conse. quence of the amendment. Matter of Sands, &c.-Report confirmed and order granted. Vogle vs. The Mayor, & - Motion granted on payment of $10 costs of opposing the motion. Gabel vs. Gabel.-I think the plaintiff has now com. pleted his case and will be entitled to a decree upon complying with the late law as to his own innocence, to be found in the Daily Register of May 10. Gillian vs. Mitten.- am unwilling to make this without knowing something of the condition of the fund-now much the receiver has received and dispensed, and what for, and some testimony as to value as well as necessity. SUPREME COURT-SPECIAL TERM. By Judge Van Vorst. The Security Bank vs. Warren, &c.-Case and amendments settled. SUPREME COURT-CIRCUIT-PART 3. By Judge Larremore. Strong, &c., vs. Taintor.-Case settled. SUPERIOR COURT-SPECIAL TERM. By Chief Justice Curtis. Beyer and another vs. Amatel.-Undertaking on order to arrest approved. Conover et al. vs. Conover, &c.-Order and consent extending time. The North River Savings Bank VS. Foran et al. -Or. der of reference to Daniel Lord, Jr. Thurber VS. Hughes of sureties. Rust vs. Hauseit.-Order making judgment of Court of Appeals judgment of this Court. The North River Savings Bank V3. Foran et al.Judgment of foreclosure and sale. Savery vs. Feyh.-Order substituting attorneys. Beltany vs. De Forest and another.-Order amending pleadings and discontinuing as to M. J. O'Reilly. Green vs. Turnbridge.-Mouson for confirmation of referee's report granted and ordered that plaintiff file security for costs. The Nassau Bank vs. Rockett.-Order for reference. COMMON PLEAS-CHAMBERS. By Judge J. F. Daly. Dongan and another vs. Meyer.-Motion granted, without costs. States vs. Brander.-Application dismissed, with $10 costs. Matter of Casady.-Allowance of $60 per month. Leach vs. Henderson and Brockway vs. Doyle.-Motions granted, with $10 costs. SUPREME COURT--GENERAL TERM. By Judges Davis, Brady and Daniels. Sturgis, &c. vs. Drew et al.-Give notice of setticment for the 1st of June at half-past ten o'clock A.M. Ordered by Judge Brady. MARINE COURT-SPECIAL TERM. By Judge McAdam., Deitz VS. Casey.-Discontinuance allowed on payment of $10 costs. See Marine Court appendix, p. 44. Scott vs. Watts.-Hand in proposed order appointing receiver. Myers vs. Flynn.-Motion granted as per order filed. Beadelston vs. Weyrich.-Amenument allowed nunc pro tune, without costs. Fish vs. Goulding.-Mr. George W. Gibbons appointed receiver. Loomis vs. Morrisson; Adams vs. Perkins; Fanning: vs. Lindsay.--Motions denied.

12. April 24, 1880 New-York Tribune New York, NY
Article from New-York Tribune, April 24, 1880

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DECISIONS-APRIL 23. Supreme Court-Chambers-By Judge Donohne.Galland agt. Galland.-Plaintiff should have $5 per week and $50 counsel fee: see memorandum. Howland agt. Howland. -No proof of service of complaint. Dinan agt. Allen.-Order granted denying motion. Walter agt. Fowler.-Motion denied. costs to abide tue event. Phinney agt. Broschell-Motion denied: see memorandum. Felthausen agt. Elmore.-See memorandum. Marsh agt. Avery.-Order granted. Clark agt. the Niagara Fire Insurance Company In the matter of Norrie.Granted. Special Term-Br Judge Van Brunt-Dusenbury agt. Du. senbury. etc.-Granted. Gardner agt. Gardner.- Granted. By Judge Beach.-Falkland agt. the St. Nicholas National Bank.-Case and findings settled. Superior Court-Special Term-Bv Judge Sedgwick.-Sherman et at. agt. Kane -Case ordered on nie. Potts agt. Mayer et al.-Undertating approved. Smith agt. Hadwick.-Iuterrogatories settled. Quinn agt. Busaell ot aLOrder signed. Wood agt. Waterman etal-Order of discontinuance In the matter of Crase.-Order appointing Charles Crane guardian ad litem of William D. C. Crane. an infant. Malcom agt. O'Relliy et al.-Case on appeal ordered on file. Church et al. agt. the American Rapid Telegraph Company.Order of substitution. Dunstatter agt. Dunstatter.-Order of discontinuance. North River Savings Bank agt. Foran et al.Order passing receiver's accounts. Cohnfield agt. the NewYork Elevated Railroad Company.-Order of discontanua.ce. Brady act. the Manhattan Railway Company.-Order of substitution. Gordon art. Martin.-Order signed. Norris et al. agt. the Manhattan Real Estate Association.-C: on appeal ordered on file. Blackweil agt. Eurick: Harrison age. New. man: Zoller agt. Zeller: Currie agt. Steele; Livingston agt. Spaulding; Morehead agt. Pratt: Reffelmacher art. Floyd; Hart agt. Benediet: Rheinlander AMI, Hird; Howe Jacob; Morgan agt. Coekroft: Gordon agt. Martin; Barnard agt. Heller: Gane agt, Gans.-Orders grantes. Common Pleas-Special Term-By Chief-Justice C. P. Daty.-Day agt Ladd opinion. Jackson act. Welsh.Injunction dissolved; see memorandum. In re assignment of Olyphant & Company.-Application granted. Banford age. Banford.-Decree signed. Equity Term-By Judge Larremore.-Person agt. Oberteuffer.-Judgment for defendant: opinion. MeIntyre agt. Moran and another.-Judgment for plaintiff. Crulkshask ngt. Inger. soll and others.-Judgmest for defendant without costs. Marine Court-Chambers-Bv Judge Shea.-Wallmach agt. Kreatzer; Grow agt. Tilton: Riddle age. Crane. -Motions granted. Clark agt. Hamiton.-Order for commission. Truax art. McCallum : Guttman agt. Fantel.-Motions dea:ed. Hubbard age Bleman ; Hall agi. Willing; Kampe act. Burnton: Himrod agi Shaw: Jaeger agt, Lorenzen.Orders of discontinnance. Jackson age. Rellly; Emberson agt. Hunt.-Orders signed. By Judge Sheridan.-Clark agt. Mott.-Order vacated for examination of defendant. By Judge Sinnott-Manning agt the New-England Mutual Life Insurance Company.-Case settled. By Judge Goepp.-Marsulio agt. Daniel-Decision filed.