gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
88d8493a869d2733
Response Measures
None
Description
Receivers were appointed shortly after the April suspension and the firm was adjudicated bankrupt.
Events (2)
1.April 9, 1909Suspension
Cause
Bank Specific Adverse Info
Cause Details
Excessive unsecured loans and heavy advances to related Outing Publishing Company and other Knapp interests leading to insolvency.
Newspaper Excerpt
The Binghamton Trust Company, capitalized at $300,000, and Knapp Brothers, private bankers, having offices in Deposit and Callicoon, N. Y., suspended today.
Source
newspapers
2.April 13, 1909Other
Newspaper Excerpt
Judge George W. Ray ... appointed receivers for ... Knapp Brothers, bankers at Deposit and Callicoon; receivers for the banking firm were named ... (bond $50,000).
Source
newspapers
Newspaper Articles (23)
1.April 9, 1909The Newark Star and Newark AdvertiserNewark, NJ
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BINGHAMTON TRUST co. AND KNAPP BROS. SUSPEND. BINGHAMTON, N. Y., April 9.-The Binghamton Trust Company, capitalized at $300,000, and Knapp Brothers, private bañkers, having offices in Deposit and Callicoon, N. Y., suspended today. In a statement President Charles J. Knapp, of the trust company, said that the suspension followed a meeting of the board of directors last night, at which it was decided to place t he institution in the hands of the State banking department. Chief Examiner M W. Hutchins took charge of the company.
2.April 9, 1909The Topeka State JournalTopeka, KS
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TRUST CO. SUSPENDS. Binghampton Concern Capitalized at $300,000 Quits Business, Binghamton, N. Y., April 9.-The Binghamton Trust company, capitalized at $300,000, and Knapp Brothers, private bankers, having offices in Deposit and Callicoon, N. Y., suspended today. In a statement President Charles J. Knapp, of the Binghamton Trust company, said the suspension of the Binghamton company followed a meeting of the board of directors at which time it was decided to place the institution in the hands of the state banking department. Chief Examiner M. W. Hutchins took charge of the trust company. Mr. Knapp said this action was due to the prospective suspension of business by the firm of Knapp Brothers in Deposit and Callicoon in which Mr. Knapp is heavily interested.
3.April 10, 1909The San Francisco CallSan Francisco, CA
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Army and Navy Orders WASHINGTON, April 9.-Captain €. M. Condon of the Coast artillery corps is detailed as major to command the Sixth battalion of Philippine scouts, vice Captain Franklin S. Hutton. Captain Condon will proceed to Manila by the first available transport from San Francisco and will report in person to the commanding general of the Philippine division. Captain Hutton will proceed to San Francisco by the first available transport and will report by telegraph to the adjutant general of the army for further orders. The leave granted to Captain Edward P. Nones, quartermaster, January 7. 1909, in the Philippines division, has been extended one month. Navy orders-The following cable has been received from Rear Admiral Harber of the Pacific fleet at Shanghai: Midshipman A. M. Steckel is detached from duty on the Paragua and ordered to the Rainbow. Ensign H. M. Bemis, discharged from the naval hospital at Yokohama, Japan, has been ordered to the Paragua. TRUST COMPANY SUSPENDS-Binghamton. N. Y., April 9.-The Binghamton trust company, capitalized at $300,000. and Knapp Brothers, private bankers, having offices in Deposit and Callicoon, N. Y., suspended today.
4.April 10, 1909Omaha Daily BeeOmaha, NE
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TRUST COMPANY SUSPENDS Binghamton oncern Places Itself in Hands of the State Department. BINGHAMTON, N. Y., April 9.-The Binghamton Trust company, capitalized at $300,000, and Knapp Bros., private bankers having offices in Deposit and Callicoon, N. Y., suspended today. In a statement President Charles J. Knapp of the Binghamton Trust company said the suspension of the Binghamton company followed a meeting of the board of directors, at which time it was decided to place the institution in the hands
5.April 10, 1909Los Angeles HeraldLos Angeles, CA
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BANK SUSPENDS; TRUST COMPANY CLOSES DOORS Member of Knapp Bros., President of Institution at Binghamton, Explains Action BINGHAMTON, N. Y., April 9.-The Binghamton Trust company, capitalized at $300,000, and Knapp Bros., private bankers, having offices in Deposit and Callicoon, N. Y., suspended today. Chief Examiner M. W. Hutchins took charge of the trust company. President C. J. Knapp of the Binghamton Trust company said this action was due to the prospective suspension of business by the firm of Knapp Bros. in Deposit and Callicoon, in which Mr. Knapp is heavily interested.
6.April 10, 1909Daily Kennebec JournalAugusta, ME
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TWO BANKS SUSPEND. Failure of One Causes the Other to Close Doors to Business. Binghampton, N. Y., April 9.-The Binghampton Trust Co., capitalized at $300,000, and Knapp Brothers, private bankers, having offices in Deposit and Callicoon, N. Y., suspended operations today. In a statement given out today President Charles J. Knapp of the Binghampton Trust Co. sail that the suspension of the Binghampton Co. followed a meeting of the board of directors last night at which time it was decided to place the institution in the nands of the sttae banking department. Chief Examiner M. W. Hutchins arrived this morning and took charge of the Trust Co. Mr. Knapp said that this action was taken owing to the prospective suspension of business by the firm of Knapp Brothers in Deposit and Callicoon, in which President Charles J. Knapp is heavily interested.
7.April 10, 1909The Montgomery AdvertiserMontgomery, AL
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TWO BANK FAILURES. Binghamton Trust Company And Knapp Brothers Suspend. Binghamton, N. Y., April 9 -The Binghamton Trust Company, capitalIzed at $300,000 and Knapp Brothers, private bankers, having offices in Dèposit and Callicoon, New York, suspended today. In a statement, President Charles J. Knapp, of the Binghamton Trust Company, today said the suspension of the Binghamton Company followed a meeting of the Board of Directors last night at which time it was decided to place the institution in the hands of the state banking department. Chief Examiner M. W. Hutchins took charge of the trust company. Mr. Knapp said this action was taken owing to the prospective suspension of business by the firm of Knapp Brothers in Deposit and Callfoon, in which Mr. Knapp is heavily interested.
8.April 10, 1909The Salt Lake HeraldSalt Lake City, UT
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TWO SMALL FAILURES. Binghamton, N. Y., April 9.-The Binghamton Trust company, capitalized at $300,000. and Knapp Brothers. private bankers, having offices in Deposit and Callicoon, N. Y., suspended today. Chief Examiner M, W. Hutchins took charge of the trust company. President C. J. Knapp of the Binghamton Trust company said this action was due to the prospective suspension of business by the firm of Knapp Brothers in Deposit and Callicoon, in which Mr. Knapp is heavily interested.
9.April 11, 1909Daily PressNewport News, VA
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TWO BANKING FIRMS CLOSE THEIR DOORS No Statement of Liabilities and Assets One Loaned Heavily to a Paper Company. (By Associated Piess) BINGHAMTON, N. Y., April 10. The Binghamton Trust Company and Knapp Brothers, private bankers, having offices in Deposit and Callic on, Y., suspended yestorday. The deposits of the Binghamton Trust Company. which closed its doors this morning, are woyer $3,000.000. The Knapp Brothers' bank. at Deposit, has deposits of about $450.000, and their Callicoon bank has about $300,000. These banks it is said, have made loans to a publishing company of Deposit amounting to over $700,000. Much of the paper from the Deposit and Callicoon banks has been taken by the Binghamton Trust Company. The Binghamton Trust Company has a capital of $300,000 and a surplus of $317,000 and its stockh Iders are liable for $300,000 more. It is believed that the loss to the trust company would reach $750,000 before the depositors would lose a cent. Former Congressman Charles J. Kna: P is president of the Binghamton Trust Company, his sen, Percy. is cashier and his nephew, Charles P. Knapp. managed the Deposit and the Callicoon banks. These men and several other members of the Knapp family are the principal owners of the publishing company.
10.April 13, 1909Rock Island ArgusRock Island, IL
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RECEIVERS FOR OUTING CO. Judge Appoints Men for Defunct Publishing Concern. Syracuse, N. Y., April 13.-Judge George W. Ray in the United States court here has appointed receivers for the Outing Publishing company of Deposit, publishers of the Outing, the Bohemian, the Grey Goose and Brains magazines and for Knapp Brothers bankers at Deposit and Callicoon. The Outing receivers were authorized to continue the business of the company for 30 days, to borrow a sum not exceeding $2,500 for that purpose.
11.April 13, 1909Daily Kennebec JournalAugusta, ME
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RECEIVER APPOINTED For Outing, Bohemian, Grey Goose and and Brains Magazines. Syracuse, N. Y., April 12.-Judge George W. Ray in United States court here today appointed receivers for the Outing Publishing Co. of Deposit, publishers of the Outing. Bohemian, Grey Goose and Brains magazines, and for Knapp Bros., bankers at Deposit and Callicoon. Archibold Heward of Binghamton. Walter S. Sullivan of New York and William F. Clark of Cortland were named receivers for the publishing company, and Archibold Howard and Henry L. Beach of Binghamton and Henry Putnam of Deposit for the banking firm. The bond of the latter receivers was placed at $50,000 and of the former at $25,000. The Outing receivers were authorized to continue the business of the company for 30 days and to borrow a sum not exceeding $2500 for that purpose.
12.April 13, 1909The Cairo BulletinCairo, IL
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RECEIVERS FOR MAGAZINE. Syracuse, N. Y., April 12.-Judge George W. Ray in the United States circuit court today apointed receivers for the Outing Publishing Company of Deposit, publishers of Outing, Bohemian, Gray Goose, and Brains magazines and for Knapp Bros., bankers at Deposit and Callicoon. The Outing receivers were authorized to continue the business of the company thirty days.
13.April 16, 1909The Washburn LeaderWashburn, ND
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FINANCIAL AND INDUSTRIAL On a sensational opening wheat on the Chicago board of trade touched the highest point, with one exception, in more than twenty years, the May option selling at $1.25%. The Binghampton (N. Y.) Trust company, capitalized at $300,000, and Knapp Bros., private bankers, having offices in Deposit and Callicoon, N.Y., have suspended. Dispatches to Dun's Trade Review indicate more uniform progress in business conditions, although buying is still conservative and mainly for immediate meeda.
14.April 16, 1909The Penn's Grove RecordPenns Grove, NJ
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RECEIVERS FOR OUTING CO. Business of Magazine Publishers Continued Under Court's Direction. Syracuse, N. Y.-Judge George W. Wray, in the United States court here, appointed receivers for the Outing Publishing Company, of Deposit, publishers of the Outing, Bohemian, Grey Goose, and Brains magazines, and for Knapp Brothers, bankers at Deposit and Callicoon. Archibald Howard, of Binghamton, Walter S. Sullivan, of New York, and William H. Clark, of Cortland, were named receivers for the publishing company, and Archibald Howard and Henry L. Beach, of Binghamton, and Henry Putnam, of Deposit, for the banking firm. The bond of the latter receivers was placed at $50,000 and of the former at $25,000. The Outing receivers were authorized to continue the business of the company for thirty days, and to borrow a sum not exceeding $2500 for that purpose.
15.April 16, 1909The CitizenHonesdale, PA
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THE KNAPP FAILURE. From all accounts the people of Deposit and vicinity are greatly overcome by the Knapp Brothers' failure on Friday last. It is said that the closing of the bank is a death blow to many of the prosperous business men, dairyman and farmers of the territory between Binghamton and Port Jervis, and running over into northern Pennsylvania. But few residents of that section carried their savings in Binghamton, or Sidney, the two nearest points where other banks are located. From all points of the compass they came to deposit their hard-earned money at the bank there, or at Callicoon. Estimates are wild regarding the amount of money going up in the failure. The deposits are claimed to have amounted to about $450,000 in Deposit, and it is said that practically everything is lost to the depositors. At Callicoon the losses are said to be about $300,000. Both of these estimates are indefinite, but they are the only ones that can be obtained, since no member of the concern is talking definite figures. Wayne county people, especially in the Delaware river townships, are much greater sufferers than we were at first led to believe. It is said now that a $10,000 deposit was made by V. & F. T. Scheidell, merchants and creamery men of Jeffersonville, N. Y., on the day before the failure, the money being largely intended for the payment of Damascus, Lebanon, and Manchester dairy farmers, for milk delivered the firm. We hear of one Damascus business man who had $9,000 on deposit at Callicoon, and many others who will lose from a few hundred down. Augustus Hartung, formerly of Honesdale, proprietor a Callicoon notel, had $500 on deposit in that branch, which is probably gone beyond hope fo recovery in whole or in part.
16.April 16, 1909The CitizenHonesdale, PA
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DEPOSIT CRASH ! Receivers Appointed for the Outing Company. BANK EXAMINERS BUSY AT WORK Knapp Bros. Adjudicated Bankrupts on Voluntary Petition-Money Borrowed to Keep Printing Plant Running for Thirty Days. Application was made before Judge Ray in the United States District Court at Syracuse on Monday last for the appointment of receivers for the Outing Publishing Co., publishers of Bohemia, The Gray Goose, and Brains, at Deposit, N. Y. The order was granted, and with it an order adjudicating the company a bankrupt. The application was made by Knapp Bros., private bankers at Deposit and Callicoon, N. Y., who were also adjudicated bankrupts on a voluntary petition. C. J. Knapp of Knapp Bros. is president of the Binghamton Trust Company, which was closed on Friday of last week. Knapp Bros. had borrowed large sums of the Binghamton Trust Company and the Outing Publishing Company has a bond issue of $380,000. Its liabilities are said to amount to $750,000 and those of Knapp Bros. close to $1,000,000. These two are said to have involved the Binghamton Trust Company. Archibald Howard of Binghamton Walter S. Sullivan of New York and William H. Clark of Cortland were named receivers for the publishing company, and their bond was fixed at $25,000. They are allowed to borrow $2,500 and continue the business for thirty days. The receivers for Knapp Bros. are M. R. Howard, Henry L. Beach of Binghamton and Henry Putnam of Deposit, and their bond is $50,000. John Yokum, Jr., is president of the Outing company and Mrs. Yokum, a sister of the Knapps, is in the firm of Knapp Bros. The employees of the Outing Publishing Company were working on Monday. They were not paid on Saturday but agreed to continue work pending a settlement. The appointment of a receiver was deferred until the current issue of the Bohemian Magazine had been completed, and a carload of the magazines were shipped to New York, Monday. The bank examiners began the examination of the trust company securities and tallying up the cash in the vaults. It was announced that it would be a week before the State officers who are working on the accounts could give anything like an exact statement of the financial affairs of the Binghamton Trust Company. At the New York office of the Outing Publishing Company at 35 West Thirty-first street, the news from Binghamton caused no surprise, as in the nature of the case, it was said, the chain of difficulties involving the Knapp brothers' banks at Deposit and Callicoon and the Binghamton Trust Company must affect the Outing company. The Knapp brothers are the Outing company's backers, and it did most of its banking through the Binghamton company. The receivership, it was said, was not expected in any way to interfere with the issue of the Outing Magazine, which was in good condition currently although having been hit in the panic of 1907. Latterly the Binghamton Trust Company had been practi-
17.April 16, 1909The Columbia HeraldColumbia, TN
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OUTING GOES INTO COURTS BANKRUPTCY PROCEEDINGS FILED IN NEW YORK. ORDER IS GRANTED, SYRACUSE, N. Y., April 14.-Application was made before Judge Ray in the United States district court Monday for the appointment of re1 ceivers for the Outing Publishing Company, publishers of Bohemia, the Gray Goose and Brains. The order was granted and with it an order adjudicating the company a bankrupt. The aplication was made by Knapp Brothers, private bankers at Deposit and Callicoon, N. Y., who were also adjudicated bankrupts on a voluntary petition. C. J. Knapp, of Knapp Brothers, is president of the Binghamton Trust Company which was closed last week. Knapp Bros., had borrowed large sums of the Binghamton Trust Company and the Outing Publishing Company has a bond issue of $380,000. Its liabilities are said to be about $750.000 and those of Knapp Bros., close to $1,000,000. These two are said to have involved the Binghamton Trust Company. Archibald J. Howard, of Binghamton, Walter S. Sulivan, of New York. and Wm. H. Clark, of Cortland, N. Y., were named receivers for the publishing company and their bond was fixed at $25,000. They are allowed to borrow $2,500 and continue the business for thirty days. The receivers for Knapp, are Henry L. Beach, of Binghamton, and Henry Putnam, of Deposit and their bond is $50,000. John Yokum, Jr., is president of the Outing Company and Mrs. Yokum, a sister of the Knapps, is in the firm of Knapp Bros.
18.May 20, 1909New-York TribuneNew York, NY
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BANK'S FUNDS FOR BAND MUSIC'S PART IN FAILURE. Knapp Brothers' Crash Partly Due to Entertaining New Yorkers. Entertaining New Yorkers is now said to have been one of the causes that helped to bring about the failure on April 9 of the Binghamton Trust Company and Knapp Brothers, private bankers of Deposit and Callicoon. The southern tier banking institutions had liabilities of more than $4,000,000. The fact has just come to light that Charles P. Knapp, manager of the Deposit and Callicoon banks. was the "angel" for the Knapp band which in the last two years gave many concerts in this city. His loss in backing this venture is estimated as close to $75,000. Band music was a fad with Mr. Knapp, but he backed the band which bore his name in the hope that he would be able ultimately to make it a financial success. It was this band that played at the Belasco Theatre on Sunday nights for two or three months last year. Charles P. Knapp took the band to the Taf: inauguration. and had a fino time with it in Washington. He played in the Deposit band twenty years ago. Knapp Brothers backed the Outing Publishing Company, whose printing plant is at Deposit. The Binghamton Trust Company, of which ex-Congressman Charles J. Knapp was president, lent hundreds of thousands of dollars to Knapp Brothers, who in turn spent it on the Outing Publishing Company The appraisal of the Outing plant gives it an estimated value of $175,000, and to this has been added $50,000 as the value of the good will of "Outing." The failure of the Knapp Brothers was one of the wrost in the history of the Southern Tier. It looks now as If there would be nothing for the creditors at Deposit, the home of the brothers. The Callicoon branch had about $30,000 on hand when the crash came, and a sharp fight is being made to compel the receivers to distribute this sum among the depositors there. The deposits in the Deposit bank aggregated about $450,000. and those at Callicoon $350,000. Even if the entire $30,000 goes to the Callicoon depositors the dividend will be less than 8 per cent. There were practically no cash assets in the Deposit bank when it failed. The Binghamton Trust Company had a capital of $300,000, and at the time of the failure a surplus of $317,000. and its stockholders are liable for $300.000 more. The loss to the trust company is said to be more than $500,000, and it is understood here that the directors will order an assessment to cover this loss. There was a prospect the week of the failure-that the trust company would-be reorganized, but the latest reports from Binghamton indicate that this will not be brought about. In Deposit the creditors say that there is no doubt that the bank was insolvent for years. About eight years ago the charter of the old Deposit National Bank, founded by Charles Knapp. expired. It is now believed that Knapp Brothers did not care to submit the affairs of the bank to the scrutiny of the National Bank examiners, which would have been necessary to get a new charter. The charter was allowed to lapse, and Knapp Brothers, as private bankers, kept on with the business. The reputation of the Knapps had been so good for seventy-five years, from the founding of the house by Charles Knapp. that the depositors, generally speaking, remained with the new firm. It was believed for some time before the crash that Charles P. Knapp was backing various unsuecessful business ventures, but the fact that he dropped in the neighborhood of $75,000 in backing a band which entertained New York City audiences will be a sad surprise to the creditors in Deposit and Callicoon.
19.June 6, 1909New-York TribuneNew York, NY
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C. P. KNAPP ARRESTED. Charged with Accepting Deposit After Bank Was Insolvent. Binghamton. N. Y., June 5.-Charles P. Knapp, president of the Outing Publishing Company, which is now in the hands of receivers, owner of Knapp's Millionaire Band and in charge of the defunct bank of Knapp Brothers in Deposit. N. Y.. was arrested in Deposit this morning on the complaint of Edith Crowley, of Deposit. on a charge of accepting a deposit of $50 after he knew the institution was insolvent. He waived examination and was held to answer to the grand jury by Enós Jester. justice of the peace. He was released under $2,000 bail. The arrest of Mr. Knapp is the first criminal proceeding resulting from the failure on April 9 of the Binghamton Trust Company and Knapp Brothers. private bankers, having institutions in Deposit and Callicoon, and the Outing Publishing Company. The failure of the private banks of Knapp Brothers is said to have been due to overloans to the Outing Publishing Company, and the failure of the Binghamton Trust Company is supposed to have resulted from the elesing of the Knapp private banks, in which it was financially interested to a more or less extent.
20.June 9, 1909New-York TribuneNew York, NY
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"OUTING" SOLD FOR $30,000. Publication To Be Continued-Alleged Loans by Knapps. Binghamton, N. Y., June 3.-On approval of George W. Ray, United States Judge, the receivers of the bankrupt Outing Publishing Company, of Deposit, sold the magazine to Thomas H. Blodgett, its Chicago advertising agent, for $30,000. This magazine was considered to be the chief asset of the Outing Publishing Company and was appraised by the receivers at $50,000. Mr. Blodgett will continue the publication of the magazine, but where it will be published he does not yet know. He will take possession on July 1. The report of the appraisers of the bankrupt Knapp Brothers, private bankers, of Deposit, indicates that the Knapps loaned to themselves personally nearly $500,000 of the money deposited in their banks, and over $500,000 to the enterprises in which they were the principal stockholders. Their loans to themselves and their enterprises aggregated $1,006,000. of which about $320,000 was to the Outing Publishing Company and the balance on notes of different members of the Knapp family.
21.June 9, 1909The CitizenHonesdale, PA
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200 chickens. Large silo. Wayne county. Situated one-half mile fro village. Inquire at THE CITIZEN office. LOCAL MENTION. -Sixteen excursions have been book for the month of June, at Lake Lodo -Four promotions from Co. M, 17 Cavalry (162d Reg. P. v.) while in t three years service, to positions amo the field and staff officers, were made follows: Capt. Coe Durland to Liet Col. ; James Brannon, private, to S Major; Henry J. Tarble, private Hospital Steward, and Wm. C. Walk private, to Saddler. --On Thursday night the famo play, "The Burglar," will be given the Lyric Theatre for the benent the Eagles of this place. You shou not miss it. The cast of characte will be as follows: William Lewis Eugene LaR (Lately with Gardner-Vincent Co Leo Osbor Edward Bainbridge Joe Bodie, . Paul Benton W. W. Wo John Hamilton Clarence Gre James Edna Doolit Alice Ruth Lo Fannie Lizzie Denhar Martha and Editha Mary Wenig -By agreement between the co missioners of Susquehanna a Wayne counties and the Erie ra road, about $50,000 will be expen ed for public improvements. T Erie will build a bridge across tracks at Forest City. The counti will bridge the Susquehanna, a bridges will be built by the Ontar and Western Company at sever places. The improvement will cc nect Forest City in Susquehan county and Clinton in this county . -On Saturday evening William M loy was taken into custody by office John Canivan. On Wednesday a co mission in lunacy was appointed whi reported that Malloy was insane. 1 court thereupon issued an order that be taken to the Insane Hospital at Da ville. Detective N. B. Spencer and ( ficer Canivan went to East Honesda but could not find their man. Th searched the entire neighborhood, k met with no success. He was sub quently captured, however, and Monday was taken to Danville, by N. Spencer and John Burcher. -Charles P. Knapp, President the Outing Publishing Compar which is in the hands of receive owner of Knapp's Millionaire Bar and in charge of the defunct ba of Knapp Brothers, in Deposit, Y., was arrested in Deposit on Si urday morning on the complaint Edith Crowley on a charge of a cepting a deposit of $60 after knew the institution was insolve He waived examination and w held for the Grand Jury under $ 000 bail. The arrest of Knapp the first criminal proceeding resu ms from the failure of the Bir hamton Trust Company, Kna Brothers, private bankers, and t Outing Publishing Company. has been announced that Mr. Kna had secured a position as ch clerk of the New Monmouth Ho at Spring Lake Beach, N. J., whi opens on Saturday next, June 12 F. F. Shute, the proprietor, is personal friend of Mr. Knapp, a
22.June 24, 1910Newark Evening Star and Newark AdvertiserNewark, NJ
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BANKER KNAPP GETS TWO YEARS IN AUBURN. BINGHAMTON, N. Y., June 24 Charles P. Knapp, one of the firm of Knapp Brothers, private bankers, of Deposit, N. Y., which failed over a year ago, at the time the Binghamton Trust Company's doors were closed, was today convicted of receiving a deposit in his bank on the day before It closed, knowing at the time that the bank was insolvent. He was sentenced to Auburn prison for not less than fifteen months nor more than two years. The failure of Knapp Brothers was due to excessive and unsecured loans to the Outing Magazine's publishers, and it was the crash of the banking firm that caused the suspension and subsequent liquidation of the Binghamton Trust Company. Charles Knapp, an uncle of the man just convicted, and a member of Knapp Brothers, as well as president of the Binghamton Trust Company, is indicted on a similar charge, and his trial also is scheduled to be held in Otsego county.
23.November 26, 1910The SunNew York, NY
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CHAS. J. KNAPP ACQUITTED. Court Directs a Verdiet of Not Gallty in Insolvent Bank Case. BINGHAMTON Nov 25 Supreme Court Justice Gladding this afternoon directed a verdict of not guilty in the case of Charies J. Knapp of this city, formerly president of the Binghamton Trust Company. who was on trial at Cooperstown. Otsego county. on an indictment found in Broome county charging him with having criminally received depositsin Knapp Bros.' private bank at Deposit. knowing it to be insolvent The insolveney of the private bank in April, 1909. caused the suspension of the trust company. The motion that the Court direct the verdiet was granted before any evidence had been offered by the defence on the ground that evidence offered by the prosecution was insufficient to convict.
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