16198. Mercantile Trust Company (New York, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
January 10, 1893
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini
Short Digest
4779a387

Response Measures

None

Description

No articles describe depositor runs. Multiple items show the Trust acting as trustee/depositary and litigant; article dated 1895-11-14 reports a receiver (Henry Fink) was appointed for the Mercantile Trust Company — a court receivership (permanent closure). Classified as suspension_closure (suspension via court receivership, no run).

Events (5)
1. January 10, 1893 Other
Newspaper Excerpt
THE MERCANTILE TRUST COMPANY OF NEW YORK has been appointed the depositary of the securities under the proposed plan
Source
newspapers
2. March 4, 1893 Other
Newspaper Excerpt
plaintiff has commenced a suit against it in this court the object and nature of which is to place its entire property in the hands of a Receiver
Source
newspapers
3. December 30, 1893 Other
Newspaper Excerpt
Counsel for both trust companies deny the rumor, and state that to their positive knowledge It is entirely without foundation
Source
newspapers
4. January 6, 1894 Other
Newspaper Excerpt
applied for receivers for the Atlantic & Pacific in behalf of the Mercantile Trust Co., of New York
Source
newspapers
5. November 14, 1895 Receivership
Newspaper Excerpt
Judge Taft granted the petition and appointed Henry Fink receiver also for the Mercantile Trust Company, of New York.
Source
newspapers

Newspaper Articles (12)
1. January 21, 1893 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, January 21, 1893

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CENTRAL RAILROAD AND BANKING COMPANY OF GEORGIA. The undersigned committee, appointed for the purpose of readjusting the affairs of, the CENTRAL RAILROAD AND BANKING COMPANY OF GEORGIA and of its allied properties, have, under advice of counsel, formed a plan of reorganization which has received the approval of the RECEIVER, of the BOARD OF DIRECTORS, and of many of the important creditors and security-holders of the company. THE MERCANTILE TRUST COMPANY OF NEW YORK has been appointed the depositary of the securities under the proposed plan, and will shortly give notice of its readiness to receive the securities embraced in the reorganization. THE SOUTHERN BANK OF THE STATE OF GEORGIA. AT SAVANNAH, GA., will like. wise be prepared to receive deposit of said securities, and to Issue certificates for the account of the Mercantile Trust Company. Copies of the plan may be had at the office of the Trust Company, 120 Broadway, New York City, or at the office of the Southern Bank. at Savannah, Ga., or from the Chairman of the committee, 15 Wall street. Dated NEW YORK, January 10, 1893. H. B. HOLLINS (Chairman), LOUIS FITZGERALD, EMANUEL LEHMAN, JAMES T. WOODWARD, JAMES STILLMAN, New York: E. E. DENNISTON, Philadelphia; E. ROLLINS MORSE, Boston; F. M. COLSTON, Baltimore; CHARLES H. PHINIZY, Augusta, Ga., Committee. JACOB H. SCHIFF, New York, Advisory Member. WILLIAM F. WHARTON. Secretary. Counsel to the CommitteeLOWREY, STONE & AUERBACH, New York. GARRARD, MELDRIM & NEWMAN, Savannah, Ga. ja 21-2t

2. April 15, 1893 The Cape Girardeau Democrat Cape Girardeau, MO
Article from The Cape Girardeau Democrat, April 15, 1893

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Order of Publication. In the Cape Girardeau Court of Common Pleas. county of Cape Girardean and State of M'ssouri. MAY TERM, 1893. In vacation. March 4, 1893 The St. Louis, Cape Girardeau & Fort Smith Railway Company, Plaintiff. VERSUS Leo Doyle, Edward Hidden and Mercantile Trust Company, of New York, Defendants. AT this day comes plaintiff herein, by its attorney before the undersigned clerk of the Cave Gifardeau Court of Common Pleas. within and for the County of Cape Girardean and State or Missouri in vacation and files its petition and affidavit; ailegies. Afoong other things, that defendant, the Mercantile Trust Company, of New Yofk, is not a resident of the State of Missouri: Whereupon it is ordered. By the clerk of sald court, that PRM defendint Pr. notified by publication) that plaintiff has commenced a stif against it in this court the object and nature of which is to place its entire property in the hands of a Beherves and under said Receiver to opera'e it for the Benefit of all its creditors. Those holding the consolidated Mortgage bonds secured by deed of trust in which said Mortantile Trust Company, of New York, is trustee as well, and that unless the said Mercantile Trust Company, of New York, be and appear at this court. at the next term thereof. to be begun and hol len at the court house, in the city of Cape Girardeau, in said county. on the 22nd day of May next, and on or before the third day of said term. if the term shall so long continueif not. then on or before the last day of said term-answer or plead to the petition in said cause. the same will be taken as confessed, and judgment will be rendered accordingly And it is further ordered that a copy hereof be published, according to law, in the Cape Girardeart DEMOCRAT, a newspaper published in said county for four weeks successively the last insertion to be at least lifteen days before the commencement of the next term of this court. A true copy ATTEST: EDWARD H. ENGLIMANN Clerk.

3. December 30, 1893 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, December 30, 1893

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A Rumor Denied. NEW YORK, Dec. 80.- - Inquiries were made of counsel in the Atenison foreclosure sult concerning the story telegraphed from Kansas City that the Union and Mercantile Trust companies were dissalistied with the appointment of J. G. Wilson as western receiver, because he lives in the West, and would apply for E& third eastern receiver in his place. Counsel for both trust companies deny the runnor, and state that to their positive knowledge It 14 entirely without foundation, and that such a matter had never entered their minds.

4. January 7, 1894 Arizona Republican Phoenix, AZ
Article from Arizona Republican, January 7, 1894

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Article Text

Arizona Atchison Receivers. PRESCOTT, Ariz., Jan. 6.-A special train containing Judge C. M. Sterry, general solicitor of the Atlantic & Pacific Railroad company, C. B. Smith, of the law department of the Atchison and other officials arrived today and appeared before Associate Justice Hawkins and applied for receivers for the Atlantic & Pacific in behalf of the Mercantile Trust Co., of New York. The application was granted and J. W. Reinhart, J. J. McCook and J. C. Wilson were appointed. The party left immediatly for Los Angeles where similar application will be made.

5. January 12, 1894 The Herald-Advance Milbank, SD
Article from The Herald-Advance, January 12, 1894

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One More Receivership. Prescott, Ariz., Jan. 9.-Officials of the Atlartic & Pacific appeared before Associate Justice Hawkins to-day and applied for receivers of the road on behalf of the Mercantile Trust Company of New York. The application was granted and J. W. Reinhart, J. J. McCook and C. Wilson were appointed. A similar application will be made for the Southern California.

6. December 6, 1894 The Redwood Gazette Redwood Falls, MN
Article from The Redwood Gazette, December 6, 1894

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PAY THE POOR FIRST. Certain Claims Against a Defunct Investment Company Made Preferred. DUBUQUE, Ia., Nov. 30.-"Pay the poor first," is the spirit of the order issued by Judge Shiras to Receiver Allen of the Americrn Investment company of Emmetsburg, Ia. June 7, when the receiver was appointed, claims aggregating $160,000 had been filed for collection on the mortgages which President Ormsby had failed to remit to the mortgage holders. Judge Shiras Thursday night heard the complaint of Eliza Caroill, whose little $600 was invested in one of these mortgages, and he ordered the receiver to prefer all such claims. The assets applicable to this purpose are just about sufficient. A Scheme of Capitalists. The mortgages held by the Mercantile Trust company of New York are to be sold in that city Dec. 14, to redeem the debentures. If Judge Shiras had not made this order it would have been practicable for New York speculators holding most of the debentures to carry out a plan they had formed to buy these mortgages below their value and present a claim to the receiver for the remainder necessary to satisfy the debentures. Now, however, the resources of the receiver will be used first in paying the preferred claims.

7. December 27, 1894 The Daily Morning Journal and Courier New Haven, CT
Article from The Daily Morning Journal and Courier, December 27, 1894

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FOR THE FIRST TIME Receivers' Certificates Are Listed on the Stock Exchange. New York, Dec. 26.-The governors of the New York stock exchange to-day listed the $3,801,000 of Northern Pacific receivers' certificates. This is the first time in the history of the exchange that receivers' certificates were ever listed. After nearly six months' delay the committee also listed the Adams reorganization Mercantile Trust company certificates deposit for the company's consol fives. The governors have delayed action until this time because of the protests entered by the BraytonIves party and their statements that the Adams interests did not represent the fives.

8. April 25, 1895 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, April 25, 1895

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MAKES A COMPROMISE. Controversy of Atlantic and Pacific Receivers With a Trust Company. ALBUQUERQUE, N. Mex., April 24.The United States Trust Company and the Mercantile Trust Company of New York, and the receivers of the Atlantic and Pacific road compromised their differences in the United States District Court to-day in the matter of borrowing money to pay the rental on the line of the road from Needles to Mojave, Cal. The parties stipulated that an order could be made authorizing the receivers to borrow $75,000 and issued receivers' certificates for the same and an order was made by the court and entered accordingly. The receivers intended to borrow $275,000 but the United States Trust Company which is the trustees of nearly all the first mortgage bonds objected to so large a loan. The question was then taken into court and a compromise was the result.

9. November 15, 1895 The News & Observer Raleigh, NC
Article from The News & Observer, November 15, 1895

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THE NORFOLK AND WESTERN. Receiver Appointed for Mercantile Trust Company of New York. CINCINNATI, 0, Nov. 14.-In the United States ( ircuit Court to day suit was filed against the Nerfolk and Western Railway Company, by the Mercantile Trust Company, of New York, through H. C. Dewing, Vice President of the Trust Company, who arrived from New York to day. There are 1,567 miles of road and its equipment involved. The suit is for $16,336,000 first mortgage bond and interest on the same The petition states that the company also owes $7,283,000 on general mortgage bonds; $2,000,000 on New River Division bonds; $5,000,000 on extension bonds; $15,000 000 on adjustment bonds; $2,000.000 on Clinch Valley division to the Fidelity Insurance, Trust, Safe Deposit Company. of Philadelphia, which has already had Henry Fink appointed receiver. Judge Taft granted the petition and appointed Henry FiLk receiver also for the Mercantile Trust Company, of New York.

10. January 5, 1896 The Herald Los Angeles, CA
Article from The Herald, January 5, 1896

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RECEIVERSHIP ALLOWANCES Made Public by the Filing of an Order The Valley Road Directors Calling in Assessments-The Road Will be in Operation in October KANSAS CITY, Mo., Jan. 4.-4 special from Topeka to the Journal says: The speculation all over the country as to the amount Judge Caldwell would allow the court officers and attorneys in the matter of the receivership of the Santa Fe railroad, gives unusual interest to an order filed in the United States circuit court today which gives those costs in detail as fo lows: To the Union Trust company of New York, as trustees, $50,000; to J. B. Johnson. as special master to sell, for all services rendered and to be rendered. $15,000 In addition to this amount Judge Johnson has been receiving a salary of $750 a month. which brings his total to $33,000. To Wheeler H. Peckham. counsel for complainant, for compensation, in addition to what he has received, $55.000. To Rossington, Smith & Dallas, as solicitors for complainant, in addition to what they have received, $27,000; to Mercan ile Trust company, as compensation for services, $10,000; to Alexander & Green, counsel for Mercantile Trust companv. $10,000; to each of the receivers, A. F. Walker and John J. McCook, and to the heirs of the deceased receiver, Joseph C. Wilson, for service up to the period when they shall turn over the property. at the rate of $15,000 per annum: to George R. Peck, counsel for receivers, in addition to what he has received, $45,000; to Ed Kenna, as counsel for receivers, $15,000. THE VALLEY ROAD SAN FRANCISCO. Jan. 4.-The directors of the San Francisco & San Joaquin Va ley railroad are now calling in their fourth 10 per cent assessment on the $2,500,000 subscribed to build the road from Stock10 to Bakersfield. More than half of this fourth assessment has already been paid up. and i is expected that before he end of the week all of the payments will have been completed. With the exception of several subscribers whose names were down for small subscriptions, the directors say there has not been a single failure to respond to the calls for assessments. The directors sta'e that the money is being handled with a due regard to economy. Several of the directors believe that be Valley line will be in full running order from Stockton to Fresno by the first of July. The engineer's report to the directors leads the la ter to assert that the entire road from Stockton to Bakersfield will be ready for operation not later than the middle of October. In view of the early opening of the line from Stockton to Fresno the directors will soon make contracts for locomotives and cars. The officials of the company absolutely deny the rumor that thev are considering the advisability of building from Stockton to Oakland or that the Santa Fe will secure control of the San Joaquin Valley road. SAN FRANCISCO. Jan. 4.-The Southern Pacific Co npany today made a number of important amendments to its bill of complaint, the suit against the railroad commissioners in the United States circuit court. Figures are cited to show that the proposed reduction. if carried into effect, would so decrease the revenues of the company that it would be forced to cease operations.

11. January 11, 1896 Albuquerque Weekly Citizen Albuquerque, NM
Article from Albuquerque Weekly Citizen, January 11, 1896

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property. of his duties ordered. as maid mijudged and in discharge further defendant. all And it IN the said and and the the agents. decreed. officer that and servants. name during are here other persons. and be enjoined interfering by restrained this action from or disposing de pendency of selling said with. property or of company in of fendant any transferring DOMBONSION railroad the of with of of the the manner same from from taking interfering or ID any which interfering said or discharge or whatever the interfering I property any part over or manak manner thereof. from the the whatever receiver of any with said in of of 18 hereby to prevent of the any manner operation court. duties of the order authorized the the property his under of d receiy the Atlantic fully of this & Pacific the of railroad and in the And operate orporation to said managi produce such manner property most the as the said with in results. duties will mattefactory his judgment public imposed discharge to collect all of the thereon; therefrom. of all income company and of the and and receive kinds debts and purpose in for such power the due the said full 14 and hereby discharge his vented offi die the compensa managers and pretion with to the tix to attorneys. employ are of, necessary such super ex agents. employer as his duties. aball the eets. intendents the and discharge receiver of continue of to that the end by this the cept aid service in all heretofore said officers amployer in the the company et al., the III Trust receiver court cause V4. of Atlantic numbered in & Pacific 1000 re- at railroad company this court. for the calendar they initiation occupy and month after said receiver. by upon cause for special of said on entrance least pertive one that inmittent duty by approved officers pro- dis or any or monther this the sided court. be either further removed that or may provided discharge shall not of any from of duty for regulations charged. employer employed execution and neglect or service prevent power or given officer disobe with or or or dience of orders and he shall have to redeem any manetica securities of loans now and the all pledged of the of as the security court fully the on authorized company of money. maid receiver institute is and prosecute in his empowered may be necessary of suits the proper vested in and trusts all such and such judgment The for that to hereby protection actions him. the property likewise defend such receiver. and to against him an aid in the prone come in of the also and defense the Atlantic cution and instituted to against of and any proseen suite & now pending company. the his judge of the Pacific defense Railroad of which will. the proper in pro- his ment. tion or be DECEMBER property for placed in deand tection charge. It 14 further ordered. of the moneyn adjudged such that receiver shall creed that out his hands. as said railroad come into of the he shall: First, current the or otherwise. incident to and operation from properties. pay all operation expenses administration of of this the the creation and to the and properties: become railways all sums lines or the due. trust. Second connecting or Pay railroads from intersecting due. interchange or to other of of railway". and arising for the track service in the of oper ation of its used lines and and traffic. all accounts its road railroads business balances. by defendant and ear mile now said or age the defendant on of the due from tituting MANAGEMENT part upon properties. taxes and thereof property. all sums first day the system for To pay or any part since which the are now Third: accrued or supplies due and have 1893. for material intainance defendant for of used July. in the operation railroad or wage- and also to or amount of the agents or accruing ant day of July. officers. of all the STITHS railroad said comdany employer 1893; liabilities due since of defend- dam the first To pay all or shall be in Fourth: may have been corporation deages by any persons of the curred which become sureties or said who of may have company on stay, garnishment fendant bonds. or upon any other like char de cost proceedings without or regard bonds of to the date of said and acter. bonds. further ordered appointment adjudged of the said and It is that the such receiver. upon creed W. Smith HH conferred in of Charles powers shall by this from order become operative day the be and the first the him. force and vested D. 18:06: from that the February. of A. the Mercantile property company receiver condition. upon Trust this ease transfer receiver made to the in the the States express hereby appointed. company that to which 14 New the York United expressly case enforce asseting all prior have of court may in Ilowances this which it Trust could comenforced ities and in if there the Mercantile had been DO change in the pany (Signed) receivership. case N. c. COLLIER Judge.

12. November 5, 1896 The Austin Weekly Statesman Austin, TX
Article from The Austin Weekly Statesman, November 5, 1896

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"Secretary of State." NEWS CONFIRMED. New York, Nov. 4.-The report that the Fort Worth and Denver system receivership is to be at once terminated. is confirmed and the information given to bondholders that it is proposed to make an immediate adjustment in accordance with the reorganization plan with the holders of over-due coupons. The committee asked for the termination of the receivership through the Mercantile Trust company, which states to the court that it is instructed by the bondholders to waive the claims on account of interest over-due and dismiss its suit with the consent of the court. The bill is concurred in by the receivers of the Union Pacific and Pacific Gulf road.