Chase National Bank (New York, NY)

View Charter #2370 on SPMC View balance sheet

Episode Information

Episode UID
237001345
Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
23700 national
Charter Number
2370
Start Date
January 9, 1912
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
6704f0bf8a86660f

Response Measures

None

Events (2)
1. September 14, 1877 Chartered
Source
historical_nic
2. January 9, 1912 Suspension
Cause
Local Shock
Cause Details
Fire at the Equitable building disrupted access and operations in the neighborhood, causing the clearing house at Chase to be closed temporarily.
Newspaper Excerpt
The clearing house in the Chase National bank was closed and temporary quarters were opened at the Chamber of Commerce.
Source
newspapers

Newspaper Articles (4)
1. January 9, 1912 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, January 9, 1912

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on whether the vaults on the third and fourth floors of the building have been destroyed. The records referred to include those of the comptroller's department, the treasurer's office and the transfer department. President Day, of the Equitable, called a meeting of the executive committee at the company's new building in Greenwich street to consider the matter of securing temporary quarters. Of the 1,300 clerks employed by the society about 600 were in the main building while the others were engaged at work in the Greenwich street building. The offices of the Equitable Trust company luckily escaped the flames, but were damaged by Belmont. water, as were the offices of August Four Known Dead. Four men are known to be dead and five injured in the fire and several persons are missing, including Battalion Chief Walsh. The fire was still burning in the debris in the basement of the building this afternoon. Conservative estimates of the damage this afternoon placed the loss in the neighborhood of $10,000,000 while others say the loss will run as high as $15,000,000. According to an officer of the Equitable. the great safety deposit vaults in the building contained last night securities aggregating between $250,000,000 and $300,000,000. The vaults are believed to be intact. President Day, of the Equitable, said this afternoon: "The burning of the home office at 120 Broadway will cause but tmporary inconvenience. Securities and important records are protected by fire proof vaults which are intact. "Most of the office force and records were removed some time ago to the society's new building, -10. 2 Albany street. "The executive offices of the society and the cashiers' department have been established in the City Investment building. This will, for the time being, be the home office of the society." G. A. Tarbel, a former vice president of the Equitable, said that the company carried its own insurance. Many of the large New York banks announced today that owing to the fire they would not exercise their prerogative of calling loans today. The money market was practically at a standstill. Transfers Suspended. Banking and brokerage business was halted for a time by the fire and the governors of the Stock Exchange met to determine what action should be taken with respect to deliveries of securities purchased yesterday. The decision reached was that transfers may be suspended for a day by mutual consent. The clearing house in the Chase National bank was closed and temporary quarters were opened at the Chamber of Commerce. Depositors and bank customers of the burned out trust companies as well as those of financial institutions located in the neighborhood on of the burned building were unable to reach their banks, being held back by the police lines. An officer of the Equitable Life AsTO surance society said that the society TO had duplicates of every record, which were stored in a building several blocks away from the burned structure. The fire he said, would not affect the company's business with its policyholders throughout the country. TO Officials of the Mercantile Safe Deposit company said the vaults were in( tact and not a cent would be lost. o

2. January 9, 1912 Evening Star Washington, DC
Article from Evening Star, January 9, 1912

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IS RUINED BYFIRE : from First page.) (Continued COUR LIVES LOST The has vault out keys to the started we and door were both The wful. it but and we both though was poor fellow but just he Painted by faithis "dead to the takewas very danger lines, which being moved had been decords legal Harr that these dewere Safe lines and were the kept that moneto be loss the would small. of Mr. said that InconLovett of of loss the will, upon course depended the the and third vaults of been have floors to inThe of the clude departthe and ment, transcalled the the Green matter 300 of the 600 the about clerks the while were in the work The ComTrust but the were by offices water. his that by to Halt. Business was business the fire, halted to should taken OR to with securities The decision be was susthat may for by day pended consent. in NaThe the house and tional Chase Bank tempora the Chamb and cusbank commerce. the trust companies, instithose of financhood tutions teach unable their the by held poback lice lines. An of AS the Life said had Societ society were which duplicates in away stored blocks the The from fire, business throughout Safe Deposit intact and by Day issued the this at office home 120 but Broadway of our and important vaults, the Most office which and some force ago new building, and the offices society been estabCity humding. the The third society will This floors fourth building... of for the be office time being all business be public the lished will the occupy of that the home with the when sacted of vice Gage the the presidence company own to be and dead five perseveral sons Fire Deputy been Chief body Walsh The fire found. burning ried Four its men in are the including has not in the in of the debris building of the the estimate the while as run high Equitable, in the the last night building securities and $300, between to are be inThe vaults believed of the anYork banks large to the fire, that, today owing tive not they preros exercise of The marloans money today. to the the exof ket, action owing stock change, standstill. Are Says Kept. Duplicates of the George Life C. office Jordan, of the stated this

3. January 10, 1912 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, January 10, 1912

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I was carried out he fainted and I think he must be dead by this time. Mr. Giblin was then taken to the Hudson Street hospital. He was very weak, but in no immediate danger. The offices of the Harriman lines, which were in the building were being moved to 165 Broadway. Everything had been moved save the papers in the legal department. Many valuable records, Including the autobiography of E. H. Harriman, was there, and it was believed that these and other valuable records were destroyed. Business Halted for Time. Banking and brokerage business was halted for a time by the fire and the governors of the Stock exchange met to determine what action should be taken with respect to delivertes of securities purchased yesterday. The decision reached was that transfers may be suspended for a day by mutual consent. The clearing house in the Chase National bank was closed and temporary quarters were opened at the Chamber of Commerce. Depositors and bank customers of the burned out trust companies, as well as those of financial institutions located in the neighborhood of the burned building, were unable to reach their banks, being held back by the police lines. An officer of the Equitable Life Assurance society said that the society had duplicates of every record, which were stored in a building several blocks away from the burned structure. The fire, he said, would not affect the company's business with its policy holders throughout the country. Officers of the Mercantile Safe Deposit company said the vaults were intact and not a cent would be lost. Harriman Loss Small. President Lovett of the Harriman lines says that all of the Union and Southern Pacific securities held In the treasurey were kept outside the city; that the monetary loss to the railroads was small. Mr. Lovett said that the extent of inconventence suffered because of the loss O1 records will, of course, depend on whethe. the vaults have been destroyed. The records referred to include those of the comptroller S department, the treasurer's office and the transfer department. The offices of the Equitable Trust company escaped the flames, but were damaged by water, as were the offices o. August Belmont, whose offices were practically untouched by the flames. Four men are known to be dead and sons are missing. including Battalior Chief Walsh whose body has not yea been found. Conservative estimates of the damage place the loss in the neighbor hood of $10,000,000. while others says the lóss will run as high as $15,000,000. According to an officer of the Equitable the great safety deposit vaults in th. building contained last night securities aggregating between $250,000,000 and $300.000,000. Statement by President Day. President Day of the Equitable issued the following statement. "The burning of the home office at 120 Broadway will cause but temporary inconvenience. Securities and important records are protected by fire proof vaults which are intact." Gage Tarbell, a former vice presiden. of the Equitable, said that the company carried its own Insurance. Many of the large New York banks announced today that owing to the fire they would not exercise their prerogative 01 calling loans today. The money market was practically at a standstill.

4. January 19, 1912 The Hawaiian Star Honolulu, HI
Article from The Hawaiian Star, January 19, 1912

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administered. After a brief rest Mr. Giblin said: Trapped By a Spring Lock. "I was sitting up last night with my wife, who has been very ill, when an employe of the hotel informed me that the Equitable building was on fire. When I arrived at the building there were no flames, but plenty of smoke. I hurried into one of the vaults to get some valuable papers, followed by one of the night watchmen. The vault has a spring lock and I left my keys outside. "When the man and I started to leave the door swung shut and we were both prisoners. The smoke was awful. We shouted, but it seemed we were doomed. The other man was alive up to half an hour ago, but just before I was carried out he fainted and I think he must be dead." Mr. Giblin was taken to the Hudson street hospital. He was very weak, but in no immediate danger. The offices of the Harriman lines, which were in the building, were being moved to 165 Broadway. Everything had been moved save the papers in the legal department. Many valuable records, including the autobiography of E. H. Harriman, were there, and it was believed that these and other valuable records were destroyed. Business Halted by Fire. Banking and brokerage business was halted for a time by the fire and the governors of the Stock Exchange met to determine what action should be taken with respect to deliveries of securities purchased yesterday. The decision reached was that transfers may be suspended for a day by mutual consent. The clearing-house in the Chase National Bank was closed and temporary quarters were opened at the chamber of commerce. Depositors and bank customers of the burned-out trust companies, as well as those of financial institutions located in the neighborhood of burned buildings, were unable to reach their banks, being held back by the police lines. An officer of the Equitable Life Assurance Society said that the society had duplicates of every record which were stored in a building several blocks away from the burned structure. The fire, he said, would not affect the company's business with its policy-holders throughout the country. Vaults Are Intact. Officials of the Mercantile Safe Deposit Company said the vaults were intact, and not a cent would be last. President Lovett, of the Harriman lines, said that, as all of the Union and Southern Pacific securities held in the treasury were kept outside the city, the monetary loss to the railroads would be small. Mr. Lovett said that the extent of inconvenience suffered because of the loss of records will, of course, depend on whether the vaults on the third and fourth floors have been destroyed. The records referred to include those of the comptroller's department, the treasurer's office and the transfer department. President Day of the Equitable called a meeting of the executive committee at the company's new building in Greenwich street to consider the matter of securing temporary quarters. Of the 1300 clerks employed by the society, about 600 were in the main building, while the others were engaged at work in the Greenwich street building. The offices of the Equitable Trust Company luckily escaped the flames, but were damaged by water, as were the offices of August Belmont