Sixth National Bank (New York, NY)

View Charter #254 on SPMC View balance sheet

Episode Information

Episode UID
25401081
Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
2540 national
Charter Number
254
Start Date
January 30, 1890
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
a4bff487716c2d9a

Response Measures

Accommodated withdrawals, Capital injected, Full suspension, Books examined

Clearinghouse involved: Yes (loan, examination, or other measures)

Description

Initial suspension followed an embezzlement/loot of securities; later recapitalized by ex-president Leland and reopened.

Events (5)
1. February 20, 1864 Chartered
Source
historical_nic
2. January 30, 1890 Run
Cause
Bank Specific Adverse Info
Cause Details
Knowledge that new officers were involved in removal/sale of large amounts of securities and alleged embezzlement (missing securities/large losses) triggered depositor panic and heavy withdrawals.
Measures
Examiners took charge; securities moved to a safe deposit vault; depositors reassured that funds were safe.
Newspaper Excerpt
the bank was closed ... the doors surrounded by crowd panic depositors
Source
newspapers
3. January 30, 1890 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Examiner suspended the bank after discovery of missing securities/embezzlement and apparent insolvency; examiner advised placing bank in hands of a receiver before recapitalization occurred.
Newspaper Excerpt
The Sixth National bank ... had already been closed by the bank examiner.
Source
newspapers
4. February 5, 1890 Reopening
Newspaper Excerpt
The Sixth National Bank reopened its doors Tuesday morning and rapidly paid out money ... funds supplied by ex-President Leland had made good the impaired capital ... the bank is now solvent.
Source
newspapers
5. January 6, 1899 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (24)
1. January 31, 1890 Evening Journal Wilmington, DE
Article from Evening Journal, January 31, 1890

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BANK WRECKERS WORK. Been Closed. Two Have New York Institutions "ANOTHER IVES-STAYNER CASE." The Sixth Half Ruined Nearly by National Alleged and Dishonest Lenox HIII Banks Has the Money? a Million Missing-Who Practices. condition light of affairs 31-A most Commissioner who A. B by United has been startling NEW Hepburn, YORK, Jan. States Bank brought to Sixth National its examining It day. been discovered P. J. accounts all and Broadway, and Thirty-fourth busy Possession of street the that of the new the bank, president who days two only Classen, of $622. has since dispose ago, of of 000 the bank's consisting of a of over gilt value market bonds gilt edged but of All bonds these $800,000. and have been sold, is gone assumed Tuesday. the bank, and sents the syndicate control former president interest on yet unknown. of of Charles Mr last H. the Classen week money has Leland, bought repre- the Notice. and In the was the bank closed on sheet the and The doors surrounded of crowd panic depositors and morning, and from gleaned assistants, the premissioner Hepburn following liminary Statement. of "Mr. stock. at parties controlling of in and control gave them 23, $622,000 possession to the belonging bank Wallace and follows: 1890, Received the New York, Sixth for sold for the books of the show any bank the for The book stock called original the bonds $622,000 amount and to Pell. president, and for with that them. they Bud. of $201,000 "They bonds. not could the renother bank. with of the the bank dered in imperative carry out the reopen taking will the possession anything. all. that stated Hepburn the new of the office oath of the Bank. The organized the 1864. presj. Leland dent. the cate two days. 45 Broad Classen M. way County T H and regarded Broadway the drug Cutter store the Kings concerns and city, of the The bank Alexander bought Hudnut surplus, last ing market. the Cashier D. has Andrew of been is by mentioned He notified Were They Commission are $401,000. that thus far the Bank stated Wreckers of $180,000 hand nt which missing. market There value last par night protested Mr. of report controller be and ready rency will of speedily ch pointment it He says of b. this city. wrecking The Fails. ng The the National Sixth in Hill the at the the de Lenox trouble the bas failed. ust bank son late Lester of There new board the he The ip $50,000 their apintions-the acquired table and red is prime Lexon and the syndicata on. Case." Another Frederick Gallatin he of bank and resident a of the to pay to the the certified Sixth committee stocks national and says member bank

2. January 31, 1890 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, January 31, 1890

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FRAUDS. FINANCIAL A of Syndicate in Speculators Succeeds Wrecking TWO Banks. of The Ives Schemes Gigantic Are Totally Eclipsed. of Giltand the Steal in and one SevJail NOW Be Will eral Others soon. of the bank of The the of the run to the The in Wall but The on acted the to drop Sixth are the from There the Sixth regard its that one new being in only been charge had few its secur posthey Its sident, who have sold out obtained Claato con been have Chemes Lead The has bank the other resident makes the of two The banks but in Wall street widels the that think effect the bear the the and marke Wall decided advers the upon this the of by the of bank, high bery Presends from to simply that bonds them over to ting his Mr. of the the bank leartified Claasen and bank house the The latter began afternoo the in the bonds of bank Claase These of of the the short value $ 10,000. None been this the ban of fairs bank, up the that bonds FOUND. the Their He loan bank by bar which and was 000 of doubtured bank Gas and in Orlea ComOcean in of pany and $50,000 pantral The third on Mr. Hep these loans, In addi prob M to tion these found loans. on in 308 000 Hepated of the and others of alleged the Hill bank Sixth cleared. and for being his make specton the be his that that that the they H the has see Even the ex him bank, he ANY GOOD in of his ing the the to his was the most in the It the The of liable an the the While Miltation recobus and into hour and were where held. an very the was and their came When talkebled the he was coming his the object he first bank would he had made any to but finally the catch Way men ble. How he they the Charles came Late Trenho: affairs banks the of liam into Faultable the said, sion bank after was it look and evening theire they taken posnded lately

3. January 31, 1890 The Daily Citizen Asheville, NC
Article from The Daily Citizen, January 31, 1890

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Suspension of a Bank. NEW YORK, January 30.-The Lenox Hill bank suspended payments. It is controlled by some parties who last week bought control of the Sixth National bank of this city which had already been closed by the bank examiner. The knowledge of the relation of the two institutions caused a run on Lenox which it was unable to meet.

4. January 31, 1890 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, January 31, 1890

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President Claassen Missing. NEW YORK, Jan 31.-President Claas sen of the wrecked Sixth National bank is missing and is believed to have skipped. The loss of the bank is estimated at $750,000. George H. Pell, who is mixed up in the wrecking of the bank, was this morning brought before United States Commissioner Shields. He was held under $25,000 bonds for trial. The doors of the Equitable bank were closed to-day owing to the trouble. The suspension, it is announced, will only be temporary.

5. January 31, 1890 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, January 31, 1890

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Lennox Hil Bank Suspends. New YORK, Jan. 30.-The Lennox Hill bank has just suspended payment. It is controlled by the same parties who last week bought the control of the Sixth National bank of this city, which had already been closed by the bank examiner. The knowledge of the relation of the two institutions caused the run on the Lennox, which it was unable to meet. The Clearing House association to-day acted on the Sixth National and decided to drop it from the association. It is rumored in regard to the Sixth National that its new officers, who have only been in charge a tew days,

6. February 1, 1890 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, February 1, 1890

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PELL SLEPT IN JAIL LAST NIGHT, And President Claassen Was Watched by Deputy Marshals. Officers Reported To Be Looking After Cashier Van Zandt. Yesterday's Developments in the Cotham Bank Wrecking Scheme. NEW YORK, January 31.-All day it was expected that President Talman would call at the Equitable bank and furnish the $50,000 necessary to resume business, but he did not appear and the doors remained closed. A great many depositors called at the bank during the afternoon and were told that business would be resumed in a few days. The affairs of the institution were all right, and it was only closed because of the examination in progress. The examiners worked all day at the Lenox Hill bank. They had net made a statement at a late hour. Late in the afternoon, the remaining securities of the Sixth National bank were carried to a safe deposit vault, by order of Examiner Hepburn. During the afternoon the bank was besieged by depositors, anxious about their money. All were told that their funds were safe. George H. Pell was unable to secure satisfactory bail, and was taken to Ludlow street jail. Peter J. Claassen was arrested tonight. He had been arranging to get bail and expected to surrender himself tomorrow morning. When the prisoner was arraigned, United States Commissioner Shields and Marshal Jacobus agreed to spare him the humilration of spending the night in jail. They suggested that he should go to the Astor House, where be could remain in the custody of deputy marsbals. Morris H odhart, attorney for the Lenox Hill Bank, as well as a director, called upon State Superiutendent of Banks Preston this afternoon and asked him if Cashier Van Zandt was criminally liable for the certification of the two checks for $50,000 each held by the Sixth National Bank. Mr. Preston told the lawver that he was unable to answer the question just at present. It was rumored that Cashier VanZandt was being watched by the police. and it was thought would be arrested as soon as the statement now being prepared was ready. Examiner Hepburn. when seen at the Sixth National Bank at noon, said the bank would not lose more than $750,000, and of this amount $400,000 was represented by bonds and securities which had been already sold, and the other $350,000 represented checks which are held against the Equitable and Lenox Hill banks. So far as could be learned today none of the down-town banks are affected by the trouble in the suspended banks. In reply to inquiries made at the Clearing House, Manager Camp and his assistants gave the assurance that the worst had been made known, and there need be no fear of further disaster growing out of the novel method of robbing a bank which has been exposed by the government examiner at the Sixth National.

7. February 1, 1890 New-York Tribune New York, NY
Article from New-York Tribune, February 1, 1890

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Claassen, the president, and a director and an agent of the Sixth National Bank, did for the use, benefit and advantage of himself, unlawfully embezzle and wilfully misapply certain moneys, funds and credits of the bank-the sum of $432,466-with the intent to injure and defraud the bank; and at the same time George H. Pell, with the like intent, did unlawfully aid and abet Claassen in the commission of such offence. This complaint was made on information obtained by the deponent in his examination of the affairs of the bank: a letter of P. J. Claassen, dated New-York, January 30, addressed to the president of the Clearing House Association. from statements of the Clearing House Committee and the cashier of the bank. The commissioner then turned to the broker and said: You are arrested on a criminal charge. You have a right to make a statement, but everything you say may be used against you. I advise you to talk only to your counsel. Do you wish an examination?" The law cleck and the accused man answered together that they wished an examination. and the commissioner asked as to the amount of bail to be given. THE AMOUNT OF BAIL FIXED. Assistant United States District-Attorney Rose said: "The charge is drawn under Section 5,209 and a violation of the law is punishable by imprisonment for from five to ten years. The case in itself is a very serious one. Eight days ago the Sixth National Bank was in the highest credit. Five days later it was in the hands of a bank examiner. In that interval over $600,000 in securities had been taken, and Mad it not been for the faithfulness and energy of one man, not even the amount of $200,000 would have been secured. There was never a bank looted as quickly as this one has been. I think the bail in this case should be $25,000. In the case of Fish $30,000 bail was asked. and this is sub. stantially the same crime, although the amount then taken was larger. I do not think anything less than $25,000 should be accepted." The young lawyer said a few words, and then the Commissioner fixed bail at $25,000. Pell expressed his readiness to furnish bail.. and he asked that an examination be held next Thursday. His request was granted, and he sat in the Commissioner's office until late in the afternoon waitIng for bondsmen. Several of his friends called at the office, and Assistant District-Attorney Rose examined them as to the amount of real estate which they owned. A sufficient number of satisfactory bondsmen had not reported when the District-Attorney's office closed. and Pell was taken back to Ludlow Street Jail.

8. February 1, 1890 Evening Star Washington, DC
Article from Evening Star, February 1, 1890

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The New York Bank Failure. Mr. Lacey, controller of the currency, said this morning that the newspapers contained a great deal more information than he possessed in regard to the affairs of the Sixth national bank of New York city. He had received a telegram from Bank Examiner Hepburn soon after the suspension, saying that he had protected the maturing paper of the bank and he Ead received a letter from him in this morning's mail saying in general terms that the bank was insolvent and advising that it be placed in the hands of a receiver. The examiner said that the assets of the bank were choice and in good shape and could easily be liquidated. The examiner said also that he was now preparing a detailed statement of the assets and liabilities of the bank and expected to complete it today. The controller said that he would take no action in the matter until he has received the examiner's report, which will hardly reach Washington before tomorrow. He will appoint a receiver early next week.

9. February 2, 1890 Wichita Eagle Wichita, KS
Article from Wichita Eagle, February 2, 1890

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THE BURSTED BANKS. President Classen Held in $30,000 BailThe Investigation. NEW YORK, Feb. 1.-The president of the Sixth National bank, Mr. Peter J. Classen, who surrendered himself last evening, was held in $30,000 bail this forenoon by United States Commissioner Shields. Mr. Classen's counsel and friends are now trying to obtain bondsmen. Meanwhile Mr. Classen will remain in the custody of the United States officers. Comptroller of the Currency Lacev was seen by a reporter for the Associated Press at Washington this morning, and he said that he had received a letter from Examiner Hepburn, stating in general terms, that the Sixth National bank was insolvent and advising that it be placed in the hands of a receiver. The examiner said that the assets of the bank were choice and in good shape, and could easily be liquidated. The examiner said that he was now preparing a detailed statement of the assets and liabilities of the ban and expected to complete it today. The comptroller said that he would not take any action in the matter until he has received the examiner's report, which will hardly reach Washington before tomorrow. He will appoint a receiver early next week. The situation about the Sixth National and Equitable and Lenox Hill banks this morning, was practically unchanged except, indeed, that the depositors appeared to be out in large numbers. The superintendent of the state bank department when seen at the Lenox Hill bank this morning said he had charge of the investigation being made into the affairs of the Lenox Hill and Equitable banks. His statement was not ready and it would not be probably before the afternoon. The following notice was posted on the window of the Sixth National bank at 12:45 o'clock today: Mr. Leland has advanced funds sufficient to garantee paymant of depositors in full at as early a day as proper arrangements can be made for that purpose. A. R. HEPBURN, Examiner. Chief Bank Examiner Lawrence Cahill made a statement tonight of the affairs of the Equitable bank. The total assets are about $190,573: total liabilities $333,111. There is also evidence of an actual liability which does not appear on the books of the bank of $150,000 certification. The examination is incomplete and will be continued Monday. Examiner Henry C. Covell announced that he had completed the examination of the Lenox Hill bank. Total liabilities are $549,292.55; the total assets $370,875.94, leaving a deficiency of $178,616.61. "The liabilities," said Mr. Covell, "include the capital stock of $100,000. There have been found $145,000 in checks made by James A. Simmons and certified to by the Lenox Hill bank which I consider worthless."

10. February 2, 1890 The Times Richmond, VA
Article from The Times, February 2, 1890

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The Wrecked Banks The Chief Conspirator Has Probably Escaped. NEW YORK, February 1.-One fact that appears most prominent to-day, amid the complex and not yet fully explained story of the wreck of three banks is the fact that the chief conspirator has probably escaped. Pell, the peddler of the stolen securities of the Sixth National Bank, and Claassen, the president of that institu tion, who is under arrect, seem now to have been only small partners of the boss conspirator. James A. Simmons. the contractor, who had many stupendous financial and contracting schemes on hands, has skipped, and SO has Wallack, the president of the ruined Lenox Hill Bank, and Pell's partner. Simmons is said to have been the chief manipulator of the scheme to get possession of the Sixth National Bank and that Claassen was hisagent. Simmons took 785 shares of the 1,035 purchased from President Leland. It is known that he has been pressed by his creditors for money, and the gutting of the Sixth National Bank is regarded as abold scheme for relief from his financial difficulties. THE EIGHTH STREET TUNNEL. One of Mr. Simmons, schemes was the Richmond Tunnel Construction and Rail. road Company, which is building a tunnel under Eighth street, in Richmond, Va. He was the manager of the company, and had charge of the finances, It was bonded for $1,500,000, and he claimed that nearly onehalf of the amount had been sold and used in constructing the work. Mr. Leland former president of the Sixth National Bank, has advanced funds sufficient to guarantee payment depositors in full at as early a date as proper arrangements can be made For a week past State Insurance Examiners Michael Shannon and John A. Horan have been examining into the condition of three insurance companies organized under the laws of this State, and doing business in this city on the assessment plan. If their surmises are true, the Guaranty Mutual, the Security Mutual, and the Mercantile Mutual, of this city, are practically insolvent. THE WASHINGTON CENTENNIAL The Plan and Scope Committee of the Washington Centennial celebration have voted the unexpected balance of the fund amounting to $4,741 in publishing a memorial volume detailing the'work done by the various committees. etc. Most of the members of the General Committee wish the, balance turned over to the arch fund, as the best possible way in which the centennial celebration could be perpetuated and the occasion commemorated. THE WORLD'S FAIR SCANDAL. The real secret of the World's Fair scandal is said to be that Depew and Belden have locked horns with Platt and Hiscock. That's the whole sum and substance of it. Platt's interference with the fair bill has raised a new difficulty. The question has been asked, "Can subscribers to the guarantee fund be compelled to make their subscriptions it they do not wish to do 80, in case Platt's men are added to the incorporators ?" The finance committee, under the terms of the subscription heading, has power to withhold the guarantee fund from the corporation formed if it 80 desires, and it was intimated to-day that such action would be taken it necessary. A trust among the hat manufacturers is being negotiated by a British syndicate. Last Tuesday evening, Cella Luther. fourteen years old, was sent out from her home in Delmonico place. Brooklyn, to buy a loat of bread at a baker's not half a block away. She has not since been seen or heard from Three years ago another girl disappeared almost this time of the year in this same neighborhood. RICHMOND TERMINAL There has been considerable talk about Richmond Terminal in Wall street for the past week in expectation of an advance The following figures were supplied the street by the parties in control: The company now controls 7.521 miles of road and water lines, an increase of 211 within the past year. Last year was the first in which the company had a surplus over fixed charges; in every year before that since its organizatian its interest charges and running expenses exceeded its income, and there were years in which its only income was the proceeds of loans That for the first time there is credit to the profit and loss account is due to the fact that the losses of previous years will be nominally offset by charging up $7,500,000 capital as full paid, although previously carried on the books as half paid. The net revenue for the past year was $668,356, the increase in the bonded debt $4,306,000, the decrease in the floating debt $1,199,193.84. and the net increase in the total debt $2,506,817.16. This net increase se in debt is recommended by an excess of o curities acquired over securities sold $4,175,930. It is probable that during the current yea k the floating debt of a little over $2,000,00 I net can be further reduced by the with drawal of some securities. The company has now left a comparatively small amount of securities which it could withdraw advantage. and it will require an expensive t development of the properties which it con d trols before their surplus earning power car . be largely increased. e or these the Virginia Midland is by fa to the most important. Although it now earn e, but little over its fixed charges, its busines th to is growing as fast as that of any road in e South, and it can hardly fail to keep o d doing so, for the Piedmont Air Line is th Id main trunk line of the South, and its equip P= ment has been largely added to and it 1. motive power largely increased during th past year by the demand of its in reasin it business. ed RZERY'GRIEF.

11. February 2, 1890 New-York Tribune New York, NY
Article from New-York Tribune, February 2, 1890

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WHAT CONTROLLER LACEY SAYS. Washington, Feb. 1.-Mr. Lacey, Controller of the Currency, said this morning that the newspapers contained a great deal more information than he possessed in regard to the affairs of the Sixth National Bank of New-York City. He had been, he continued. in constant communication with Bank Examiner Hepburn up to the time the latter took charge of the affairs of the bank; but since then he had heard little from the Examiner. Mr. Lacey added that Mr. Hepburn was not likely to make a report on the subject until he had completed his examination. The bank was now in the hands of the Government, and there was no particular necessity for haste. The Controller said De received a telegram from Examiner Hepburn soon after the suspension saying that the latter had protected the maturing paper of the bank, and he had received a letter from Mr. Hepburn in this morning's mail saying in general Terms that the bank was insolvent and advising that 1t be placed in the hands of a receiver. The Examiner said that the assets of the bank were choice and in good shape, and could easily be liquidated. The Examiner added that he was now preparing a detailed statement of the assets and llabilities of the bank. The Controller said he would take no action in the matter until he received the Examiner's report, which will hardly reach Washington before to-morrow. He will appoint a receiver early next week.

12. February 4, 1890 Daily Republican Wilmington, DE
Article from Daily Republican, February 4, 1890

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Losses Made Good. WASHINGTON, D. C., Feb. 4.-The Comptroller of the Currency yesterday morning received a telegram from Bank Examiner Mepburn saying that the funds cupplied by ex-President Leland had made good te impaired capital of the Sixth National Bank of New York, and that the bank is now solvent. This will do away with the necessity of appointing a receiver to wind up the affairs of the bank. The amount paid in by Leland yesterday morning was $280,000, the deficiency to be covered being $279,33%.

13. February 5, 1890 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, February 5, 1890

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GENERAL NEWS. / The Goff-Fleming contest in West Virginia was decided yesterday in favor of Fleming. George A. Denniston, Jr., teller of the national bank at Goshen, N. Y.. has committed suicide. He is a defaulter for $20,000. Ten men are reported killed and 16 injured by a railroad accident in Oregon. A construction train plunged from a bridge. Joseph P. Murpby & Co., cotton and woolen goods manufacturers, Philadelphia have failed. Assets and liabilities about $600,000. Three hundred men in the leather factories at Woburn, Mass., have struck. They and the manufacturers differ on what shall constitute a day's work. Austin F. Dow, a Littleton, N. H., merchant, missing since last September, has been found near Seattle, Wash., where he is quite sick. His wife has gone to that place. The Sixth National and Equitable Banks in New York were doing business again yesterday and it is hoped to fix up the affairs of the Lepox Hill without appointing a receiver. The bacillus of the grip is described as eliptic in form. yellow or dark blue in color, with a cassock shaped head. It may thus be readily recognized. When you see one coming dodge. Forty union men struck in Chick Brothers shoe factory at Haverhill yesterday. Organizer H. C. Moulton presented a price list which was not accepted. The firm employs 300 hands and work went on, the 40. hardly being missed. A Philadelphia special says that a remarkable deal has just been consummated, which practically changes the ownership of the Philadelphia & Reading railroad property. In the new syudicate are Postmaster General Wanamaker, Thomas Dolan, the millionaire manufacturer, President Fuller of the First National Bank of Philadelphia, J. Worden, the standard oil magnate and the Elkins-Widener capitalists, led by W, W. Gibbs.

14. February 5, 1890 The Cheyenne Daily Leader Cheyenne, WY
Article from The Cheyenne Daily Leader, February 5, 1890

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SPARKS FROM THE WIRES. Yesterday's temperature-New York 44°, New Orleans 62°, St. Louis 60°, Cincinnati 58°, Chicago 50°, Washington 20°. The Sixth National Bank of New York resumed business yesterday, and everything moved along as it nothing had happened. A scandal similar to that recently unearthed in London, is coming to the surface in Belfast. Twelve youths have been arrested. A hand car with laborers was run down by a Northern Pacific train yesterday at St. Cloud, Minn. Three laborers are reported killed. Mr. and Mrs. Whitelaw Reid have postponed the ball which they were to give to-morrow evening in Paris, owing to the calamity betallen Secretary Tracy. The prohibition state conference met at Sedalia, Mo., yesterday. The sttendance was small. J. C. Hughes was chosen chairman and the usual committees ap pointed. Mrs. Harriet Beecher Stowe has much improved in health and strength. She is neither insane nor an imbecile as was stated, but has reached the stage of second childhood. The Goff Fleming contest was decided at noon yesterday in tavor of Fleming, the vote standing 40 for Goff and 43 for Fleming. Carr, Union Labor senator, voted with the Democrats. Herr Sormits, editor of the Cologne Gazete has been sentenced to one month's imprisonment in the fortress for publishing calumnies against Empress Frederick, mother of Emperor William. The colored men's convention was in session until early yesterday morning at Washington and after a stormy scene elected Bishop A. W. Wagman permanent president. His chief competitor was ex Senator P. P. Pinchback. It is reported a Philadelphia and New York syndicate, backed by two great European banks, have secured control of the Philadelphia & Reading railroad and that suits will be begun with a view to ousting Austin Corbin, its present president.

15. February 5, 1890 Smyrna Times Smyrna, DE
Article from Smyrna Times, February 5, 1890

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News Items. A National Convention of Colored Men is in session in Washington. York The County Democracy of New form. is going for Cleveland and reThe the grippe has reached the in Northwest and the Indians reserves are simply terrorized. Rapid progress is being made on new cruiser Philadelphia. Her the engines will be tried about March 1. Rev. Dr Talmage has returned from his trip to the Holy Land with a ner-stone for his new Brooklyn Taber- cornacle from Mount Calvary. As a result of a conference held between bankers and lawyers, a comprowill mise was effected, which, it is expected result in the Sixth National Bank of New York resuming business totors. morrow under the old board of direcEleven people were killed, and two fatally and nine others seriously injured in a tenement house fire in the North end of Boston, a flaming stairway cutting off all egress to the street and from compelling the inmates to jump the windows to escape the flames and smoke. Buenos Ayres has been for nearly two if years on the edge of a panic, and the large failure just announced is confirmed, the world is likely to the Argentine Confederation in d finan- see cial convulsion, like that in this country in 1837. The confederation has been passing through a like period of land speculation, paper money and vast public improvements.

16. February 6, 1890 Wheeling Register Wheeling, WV
Article from Wheeling Register, February 6, 1890

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Both Banks Running. NEW YORK, February 5.-There was nothing to indicate this morning that there had been any trouble with either the Sixth National or Equitable banks. The regular business of both institutions had been resumed and the only feature to at. tract attention was the meager business being transacted.

17. February 6, 1890 Delaware Gazette and State Journal Wilmington, DE
Article from Delaware Gazette and State Journal, February 6, 1890

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SIXTH AVENUE IS SOLVENT. WASHINGTON, Feb. 3.-Comptroller of the currency Lacey received a telegram this morning from Bank Examiner Hepburn saying that the funds supplied by ex. ex-Presidant Leland has made good the impaired capital of the Sixth National Bank of New York. and that the bank is now solvent. This will of course do away with the necessity of appointing & receiver to wind up the affairs of the bank.

18. February 6, 1890 Delaware Gazette and State Journal Wilmington, DE
Article from Delaware Gazette and State Journal, February 6, 1890

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WASHINGTON, Feb. 1.-Mr. Lacey, Comptroller of the Currency, said this morning that the newsp pers contained a great deal more information than he possessed in regard to the affairs of the Sixth National Bank of New York city. He had been, he said, in constant communication with Bank Examiner Hepburn until the time he took charge of the affairs of the bank, but since then he had heard very little from him. He added that Mr. Hepburn was not likely to make a report on the subject until he had completed his examination. The bank was now in the hands of the government, and there was no particular necessity for baste. The comptroller said he received a telegram from Examiner Hepburn soon after the suspension saying that he protected the maturing paper of the bank and he had received a letter from him in this morning's mail, saying in general terms that the bank was insolvent and advising that it be placed in the hands of a receiver. The examiner said that the assets of the bank were choice and in good shape and could easily be liquid. ated. The examiner said also that he was now preparing a detailed statement of the assete and liabilities of the bank and expected to complete it to-day. The comptroller said that he would take no action in the matter until be has received the examiner's report, which will hardly reach Washington before to-morrow morning. He will appoint a receiver early next week. NEW YORK, Feb. 3.-As early as 10

19. February 6, 1890 The Stark County Democrat Canton, OH
Article from The Stark County Democrat, February 6, 1890

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WOOSTER, On Jan. 81,-Karl Merz, di rector of the musical department Wooster University, died yesterday after noon at 4:20 o'clock of pneumonia, H was taken down on Saturday with grippe, which rapidly developed into the fatal disease, Neither of his children, Dr Charles H. Merz, of Sandusky and Mis Bessie Merz, of St. Charles, Mo., were a home. His sudden death has caused profound sensation. COLUMBUS, Jan. 81,-[Special.]-The verdiet of the coroner's jury on the five victims of the recent gasexplosion charges it was due to gross negligence of the con tractor, J. C. Gibney, in leaving one joint in the pipes uncalked. ST. LOUIS, Mo., Jan. 31,-[Special.] Mrs. Nora Dunn of this city and Captain James Cargbett of Gardner, Maine, were remarried here this morning after a seperation of 45 years. He married her near ly half a century ago at Gardner, Maine, and then went to sea, He was reported lost. She married again. After a long time he returned and married again. Her husband and his wife have since died. Both are very wealthy. NEW YORK, ner Hessburn is still in possession of the Sixth National Bank. No receiver has yet been appointed. The numbers on the bonds missing from the bank cannot be ascertained as no entry was made on the books. If nothing can be collected from the protested notes the total loss will be about $750,000. It is believed that President Classen, of the Sixth National, and President Walter, of the Lenox Hill bank, have both skipped. LONDON, Jan. 81.-1 Special. ]-The French Line steamer La Normandie, from Havre for New York, January 25, was sighted three days later in 49 degrees northern latitude 23 degrees west longitude with her machinery partly disabled. She did not signal for assistance. COLUMBUS, Jan. was no trouble in the senate this morning. President pro tem Adams took the chair in the absence of Lieut. Gov. Marquis. Lampson did not try to take the chair as he said he would last night. Later he left for his home in Asthabula. KANSAS CITY, Mo., Jan. 31 [Special.] During his absence from home last evenmasked burglars bound and gagged the wife of Charles Roonan on Mercier street. They tied her by the neck to a bedpost and then robbed the house. The woman is in a precarious condition. Not much booty was secured. SAN FRANCISCO, Jan. 31.-[Special.]The amount realized from the sale of single season tickets to the Patti opera season, of two weeks, aggregated $25.000. This, with the amount realized from the box sales, makes a total of $34,000. CHARLESTON, West Va., Feb. 1,-[Spe cial.]-Delegate Horr, of the Union-Labor party created a great sensation here today in the Legislative Court investigation involving the question of the election of Governor, by filing a written statement that he had been offered a bribe of $1,800 and the State Mine Inspectorship, if he would vote for Goff (Rep for Governor of West Virginia. The affair has created a most profound sensation, as Horr in believed to be an honorable man. An investigating committee of five has been appointed to hunt the rascals down. WASHINGTON, Feb. 1. Special. World's Fair Committee of the Housemet to-day and concluded two bills as proposed by the sub-committee, and while they did not complete the work, they progressed sufficiently to show that two bills will be reported. One making no appropriation and leaving the place for holding the Exposition blank, to be filled by the House, and the other making an appropriation and providing for holding the Exposition at Washington. WASHINGTON, February [Special.] There was a great crowd at the Capitol to-day. The House galleries filled early and the crowd overflowed into the corridors of the main floor. On the conclusion of the reading of the Journal McKinney moved its approval and pending that motion Springer of Illinois moved an adjournment and demanded a roll call on his motion. It is evident the Democrats intend to continue yesterday's tactics. The motion to adjourn was defeated yeas 135, nays 158. WICHITA, Kan., Feb. 1.-[Special.]George Black, a young man doing business here, became violently insane, a raving maniac, yesterday and attacked his sister with a poker inflicting probably fatal injuries. He thenattacked his brother-inlaw injuring him so that he will die. He was arrested only after a terrible fight with the officers. LOUISVILLE, Ky., Feb. 1.-[Special.] Bill Nye, the humorist, and James Whitcomb Riley, the poet, havedissolved partnership, owing, it is said, to the convivial habits of the latter. Riley broke loose on a bender yesterday and he has since been in a dazed condition. YOUNGSTOWN, Jan. 31.-The series of meetings being held here under the auspices of Evangelist C. H. Yatman have been very successful, and $40,000 of the which he started out to raise for building for the Young Men's Christian Association has already been subscribed. WASHINGTON, Feb. 1.-[Special.]-ExSergeant-at-Arms Leedom has received a dispatch from the Mayor of Gerrelbonne, Canada, denying that Silcott is or has been in that place as reported. KANSAS CIUY, Feb. 1,- Special.]-The plant of the Kansas City Packing and Provision house was destroyed by fire last night. The loss is $200,000, insurance $300,000. WASHINGTON, Feb. 1.-[Special.]-The condition of Mrs. Coppinger, Secretary Blaine's daughter, is reported greatly improved to-day, and she will probably recover. WASHINGTON, Jan. 31.-The Washington Post, the Republican newspaper of the capital, edited by Frank Hatton, the Postmaster General of a former Republican administration, has a double-leaded leading editorial in which it calls loudly for precisely what the Democrats in the House of Representatives have been calling for, namely, rules of procedure. Under the heading, "Report the Rules," the editorial says: There is one way out of the disgraceful tangle in which the House found itself yesterday, and that is for the committee charged with the duty of formulating the rules for the government of that body to make a prompt report. Rules are what is needed-rules that give to the majority every right it is entitled to, and rules that protect to the fullest extent the rights of the minority. Until this is done there is little show for the harmonious and effective prosecution of public business. Precedents, to apply to the House of Representatives, should be found inside and not outside of that body. The country at large has rights in this controversy that rise superior to the wild and frantic antics of partisanship. The people know what is right, aud they will be satisfled with nothing short of what is right. Let the rules be reported. Let them be fair and just to both majority and minority. The sooner this is done the more creditable it will be

20. February 8, 1890 The Ketchum Keystone Ketchum, ID
Article from The Ketchum Keystone, February 8, 1890

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THE sixth National Bank of New York, which was considered one of the soundest and best banks of the city, has been placed in the hands of a receiver. It is stated that the first move towards a steal by the new president, who went into office only a few days ago, was by his attempting to dispose of $622,000 of the bank's securities, consisting of gilt-edged bonds of a market value of over $800,000. All but $250,000 of these bonds have been sold, and where the money has gone to is yet unknown. The president and his broker have been arrested, and failing to give the required bail, are at last accounts resting behind the bars of the Ludlow street jail.

21. February 8, 1890 Perrysburg Journal Perrysburg, OH
Article from Perrysburg Journal, February 8, 1890

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AFLOAT AGAIN. New York's Wrecked Banks Open Their Doors-Business Resumed at the Sixth National and the Equitable. NEW YORK, Feb. 5.-The Sixth National Bank reopened its doors Tuesday morning and rapidly paid out money to those who cared to draw it. There were, however, no signs of a run on the bank. When the bank was turned over by Bank Examiner Hepburn to Presiden Leland's counsel the latter said not only were there sufficient funds to pay the depositors, but the surplus was now as large as before and stock worth just as much. About 1 o'clock Tuesday afternoon the Equitable Bank threw open its doors for business. The Lenox Hill Bank depositors are rapidly signing papers giving President Jordan, of the Western National Bank, power to act for them. The latter has hopes of arranging the bank's affairs so that a receiver will not be necessary. C. N. Jordan made the following statement in regard to the condition of the Lenox Hill Bank late Tuesday evening: "The total amount of capital due depositors is $130,000. The bank has $200,000 assets to pay them with. It is expected now that we will open for business on Thursday morning."

22. February 13, 1890 Crawford Avalanche Grayling, MI
Article from Crawford Avalanche, February 13, 1890

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# A Bank Wrecker Out on Bail. P. J. Claasen, accused of causing the suspension of the Sixth National Bank of New York, has been released on $30,000 bail.

23. February 13, 1890 The Telegraph-Courier Kenosha, WI
Article from The Telegraph-Courier, February 13, 1890

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A Bank Wrecker Out on Bail. P. J. Claasen, /accused of causing the suspension of the Sixth National Bank of New York, has been released on $30,000 bail.

24. February 14, 1890 The Newtown Bee Newtown, CT
Article from The Newtown Bee, February 14, 1890

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Among the patrons of the Sixth naKional bank of New York, which recently suspended business, was J. W. Tuthill, who manages the creamery at Newtown in conjunction with others on the Housatonic line. Mr Tuthill, who was then ignorant of the financial embarrassment of the bank, had given his checks, as usual, for the preceding month, drawing them on the Sixth national bank. As soon as informed of the suspension, he ordered duplicate checks drawn on a sound bank and the farmers lost nonuoney.