Hoboken Savings Bank (Hoboken, NJ)

Episode Information

Episode UID
2589199190880
Episode Type
Run β†’ Suspension β†’ Reopening
Bank Type
savings
Bank ID
258919919 hash
Start Date
April 15, 1873
Location
Hoboken, New Jersey (40.744, -74.032)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
44b5ed21a26528b7

Response Measures

None

Description

Suspension caused by cashier Frederick (Klennan/Klenen) embezzlement; later resumed payments.

Events (3)

1. April 15, 1873 Run
Cause
Bank Specific Adverse Info
Cause Details
Run triggered by reported defalcation/embezzlement by cashier Frederick Klennan (absconded).
Measures
Officers quieted the crowd; majority left; only about $18,000 withdrawn.
Newspaper Excerpt
A RUN commenced on the Hoboken Savings Bank in New York yesterday morning, consequent upon a reported defalcation
Source
newspapers
2. August 1, 1873 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended after discovery that cashier's defalcation was larger than initially reported (deficits reported $55k–$113k+).
Newspaper Excerpt
A New York despatch says the Hoboken Savings Bank suspended yesterday afternoon, the defalcation of its cashier being larger than at first reported.
Source
newspapers
3. January 20, 1874 Reopening
Newspaper Excerpt
The Hoboken Savings Bank has resumed.
Source
newspapers

Newspaper Articles (22)

Article from Evening Star, April 15, 1873

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A RUN commenced on the Hoboken Savings Bank in New York yearerdsy morning, consequent upon a reported defalcation, bnt the officers of the bank quieted the fears of the majority of the crowd, who left. Only $18,000 were drawn out. The excitement is over. Klenin, the defaulter, has not yet been arrested.


Article from New-York Tribune, April 15, 1873

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New-Dork Daily Tribune. FOUNDED BY HORACE GREELEY. TUESDAY, APRIL 15, 1873. The health of the Pope is improving. M. de RΓ©musat has delivered an address to the Paris electors. The Government has authorized the extermination of the Modocs, Quartermaster Owens, a Cunard pilot, and others, testifled in the Atlantic investigation at Halifax. A large planing-mill was burned at St. Louis. Three leading trank lines have adopted a lower freight tariff. Mayor Havemeyer supports Controller Green's views in regard to the vacation of assessments. Two mercantile failures were reported. There was a run on the Hoboken Savings Bank. The Committee of One Hundred quarreled over the Several stock brokers testified Brooklyn Charter. before the Grand Jury in regard to the rates of interest. The new Coinage act causes great inconvenience. Gold. 118 1182, 118 Thermometer, 45Β°, 51Β°, 46Β°.


Article from The New York Herald, April 16, 1873

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HOBOKEN BANK ROBBERY. The Panic and Run Almost Ended. Throughout yesterday the excitement of the people seemed to be dying out, inasmuch as further deposits, aggregating $2,500, were made at the savings bank. The sum paid out to feverish individuals-chiefly women-was only $24,000. The subsidence of the same and restoration of confidence have given rise to an inconceivable amount of satisfaction. Out of nearly three hundred pass-books now examined no discrepancy nas been detected, except a number of small sums, reaching $200. Many of those persons who appeared yesterday did so for the sole purpose of having their books compared with the bank records. Klenen has not yet been captured. His fall has sorely pierced the hearts of his aged parents, who are respectable Germans. Many rumors are rife in regard to the causes of his downfall. The probability seems to be that one of the revolting haunts of loose women "up the road" which brought destruction to Witners and others has also been the occasion of Klenen's ruin. To-day the savings bank will most likely return to its wonted quiet, and business proceed evenly, as usual.


Article from Wilmington Daily Commercial, August 2, 1873

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A freight train on the Allegheny Valley Bailroad ran into an oil train near Cunningham, Pa., last evening. Two brakemen namsd Boetand, and Bonner. and an unknown man, were killed. and the engineer had his thigh broken. Fifteen of the oil cars and the bodies of the killed were destroyed by fire. A New York despatch says the Hoboken Savings Bank suspended yesterday afternoon, the defalcation of its cashier being larger than at first reported. The officers of the bank admit a deficit of $55,000. It is stated the bank holds about $1,250,000 of bonds and mortgages in trust.


Article from Memphis Daily Appeal, August 3, 1873

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The director of the suspended Hoboken savings-bank says that the doors were not closed for want of funds, but to allow an examination to be made, so as to ascertain the exact amount of the abseconding officers' defalcation. e The liabilities are placed at one million twentythree thousand dollars, and assets at one million thirty-one thousand seven hundred and forty-three dollars.


Article from New-York Tribune, August 4, 1873

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THE SUSPENDED HOBOKEN SAVINGS BANK. The officers of the Hoboken Savings Bank claim that suspension was not caused by lack of funds or by any inability of the bank to meet its obligations, but by the fact that it was impossible to carry on the regular business and meet the run, and at the same time concigde the examination in progress. The bank has deposits to the amount of $1,023,000. and claims to have the following assets: Hudson County mortgages,


Article from Alexandria Gazette, September 10, 1873

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From New York. NEW YORK, Sept, 10.-An examination of tbirty-two hundred pass-books of the Hoboken Savings Bank has discovered a deficit of $113,000. There remains to be balanced 1,300 books and if the losses upon these shou'd be equally large the defalcation of Klennen, who absconded some time ago, will be nearly $150,000. The bank now owes its depositors $1,300,000 and will fall short of paying its debts, $63,000. The enormous balloon which has been on exhibition in Brooklyo since Saturday has been visited by thousands. Prof. Wise denies a rumor that he has refused to accompany the balloon on the proposed transatlantic voyage. If the weather will permit the balloon will be cut loose at 6 o'clock this eveuing. If a high wind prevails the car will be left behind and the life boat only used. If the balloon starts on time the acrouauts expect to land in Europe ou the second morning. The call for a public meeting this evening to discuss the subject of cheap transportation and the formation of a permanent organization, has already received hundreds of SI gna tures, embracing every branch of trade, doing business in this city. The board of directors of the Samana Bay Company have resolved to have no negotiations with and to make no propositions to holders of the so-called Hartmoot bonds, held 10 England and declared by the Dominion Government to be null and void. President Stockwell resigned and Wm. G. Fargo was chosen his successor. At the inquest over the remains of Charles G. Kelsey at Oyster Bay yesterday, A. J. Hurd, whose testimony it was thought would throw some light on the murder question, simply testified to witnessing the tarring and feathering of Kelsey. Arthur M. Prime, one of the wen believed to have been connected with the tragedy and a witness examined at the coroner's inquest, was arrested last night on a charge of perjury.


Article from New-York Tribune, September 26, 1873

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EVENING SCENES. The crowd at the Fifth Avenue Hotel, last evening, was even smaller than on the previous evening; and the loungers in the corridors were quiet and listless. There were no groups discussing with eager voice and gesture the prospects of a rise in stocks, and the half dozen returned delegates from the Utica Convention, gathered near the door, were listened to with more attention than the wisest prophet on Wall-st. matters. Few heavy operators were present, and the general attitude was that of weary waiting for whatever the future might develop. THE WEAKENED HOUSES. EXAMINATIONS SLOWLY PROCEEDING. At the office of Henry Clews & Co. there was little bustle or excitement yesterday. The visitors were not remarkably numerous, and the work of clearing up the position of the house went actively on. Mr. Greenough, representing Mr. Clews. stated to a TRIBUNE reporter that the statement of the assets and liabilities of the firm was not ready, nor could any definite date be assigned for its completion. Its preparation involved much time and labor. No steps had yet been taken toward calling a meeting of creditors, nor could hesay when such a call would be issued. They issued last evening the following circular: Henry Clews & Co. state that the liabilities which their London house describes as incurred for account of the New York house are mainly acceptances under commercial credits for accounts of various merchants in this city and elsewhere, to whom the dratts will be returned, and who will meet them, being prepared to do the in were given. The apparent acceptances 80 by having goods possession against liabilities to which the there- the London house will be fore of the these reduced credits extent proto which the acceptances under are vided for by the parties in whose account they were issued. Quiet reigned at the offices of Howes & Macy, across the hallway from Henry Clews & Co. The callers were neither many nor anxious, and the consultations with members of the firms seemed to bring hopeful looks to the faces of those who spoke with them. The son of the senior member of the firm told a TRIBUNE reporter that nostatement had yet been prepared. It required time and labor. No meeting of creditors had been called. The creditors of the National Bank of the Common wealth adopted yesterday, at No. 11 Wall-st., a resolution requesting the President and directors of the bank to use their best exertions to have the affairs of the bank again placed in the hands of the officers of the bank, either for liquidation or otherwise. There were about 30 creditors present. The managers of the Hoboken Savings Bank met yesterday to receive the report of the Committee who had been appointed to solicit subscriptions to make up the deficiency of $61,000, caused by the defalcation of Klennan, the absconding secretary. It was stated that more than half the amount had been raised, but the Committee reported back for further instructions, on the ground that if the bonds deposited with Fisk & Hatch should be lost. the collection of subscriptions to cover Klennan's defalcation of $61,000 would be insufficient to cover the whole deficiency. and the bank would still be unable to pay its deposit in full. President Clinton argued that Fisk & Hatch had only suspended temporarily, and that it was quite probable that most of the funds placed there would be recovered. He therefore advised that the Committee should continue to solicit subscriptions, and the Board concurred. Several prominent names and considerable sums were added yesterday. The deficiency of Klennan, reported at $61,000, has been reduced nearly $2,000 by the discovery that some accounts still open on the ledgers had been closed on the pass-books. The Board of Managers will meet again to-day to receive the report of a committee appointed to attend to some business, the particulars of which the directors preferred not to disclose yesterday.


Article from New-York Tribune, October 2, 1873

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NEW-JERSEY. JERSEY CITY.-The Board of Finance has ordered a warrant drawn for $12,000 to return to water account the amount transferred to assessment account in July. HOBOKEN.-The Mayorand Common Council have been summoned to appear at Treuton ou the 29th inst.. to show cause why $56,000 of the Thirteenth-st. improve ment certificates held by T. Butts and G. F. Oakley should not be paid The North Hudson County Railroad Company has petitioned the Common Council for permission to lay a double track through Newark-st. to It was Paterson-ave. and thence to their incline plane rumored yesterday that John Kennedy, a depositor in the Hoboken Savings Bank had made an application for a receiver, and that notice to that effect had been served on the officers. President Clinton stated that Kennedy had called on him with his counsel yesterday, but that after discussing the matter in relation to Kennedy's deposit no definite conclusion was reached. Kennedy's counsel declined to state what action be would take in the matter, but Mr. Clinton


Article from Nashville Union and American, October 26, 1873

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FINANCIAL General Distrust in New York. Heavy Fall in Leading Stocks. -Vanderbilt Reported Hors du Combat. Largest Cotton Mills in the World Suspended indefinitely. NEW YORK, Oct. 25.-No bank statements to day. No specially new features were brought out this afternoon, but a general feeling of distrust took possession of the markets, and stocks were heavily pressed for sale at prices from 2 to 41 per cent. below the quotations current in the forenoon. The decline, it is said, was chiefly caused because several large time loans of money on which blocks of Vanderbilt stocks were carried had matured, and the lenders refused to renew them. Accordingly, the stocks had to be sold at the standing. A cause for the decline was also freely circulated, that Commodore Vanderbilt was sick. This rumor was quickly denied, only to give place to another to the effect that there was a hitch in the negotiations between the Trust Co. and Lake Shore, and that the Commodore could not put up the securities he agreed to. When this report had gone the rounds, it gave place to more mischievous rumors that some large stock firms were in trouble, but the day closed without anybody being re ported to the Stack Exchange, or any names being mentioned. The decline in Vanderbilt stocks brought out other long stocks, and the bears also sold freely, which assisted the downward movement. There are many operators on the bear side, for the reason that it is now easier to sell than to buy stocks, and this carries the stock down on every unfavorable rumor. Gold Movements at the Sub-Treasury. The Treasury operations for the week at the New York office, included the disbursement of $700,000 in gold for interest, and in the redemption of 5-20 bonds, and the receipt of $1,109,900 for customs in specie. The exports for the week were nearly four hundred thousand, principally silver bars, and the imports over fifteen hundred thousand pounds. The general merchandize imports, including dry goods, were $5,830,093; produce, exports $7,430,726. Peake, Opdyke & Co. In view of the depression in Wall street, the announcement is gratifying that the well known dry goods firm of Peak, Opdyke & Co., who suspended just three weeks ago, will resume Monday next. This event will doubtless contribute greatly to the restoration of business confidence. The Evening Mail says several Directors of Hoboken Savings Bank have, during the last three or four days, made extensive transfers of property. In view of their action, County Clerk Kennedy, who has $8,000 on deposit in the bauk, made a peremptory demand for his money. He didn't get it and well, it is said, throw the bank into liquidation. 500 More Employees to ibe Turned Loose. The Danforth Locomotion Works, in Patterson, employing 500 hands, will soon stop. Expansion of $125,000. WASHINGTON, Oct. 25.-The outstanding legal tenders are 360,284,888. New York Factotries Following New England. CAHOES, Oct. 25.-Harmony cotton mills, the largest of the kind in the world, will close to-night indefinitely. It is probable the woolen manufactories will soon follow. NEWBURGH, Oct. 25.-The Newburgh steam mills owned by Garnes & Co., of New York, have stopped, throwing four hundred persons out of employment.


Article from Chicago Daily Tribune, October 26, 1873

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Many Applications at the Treasury for Silver Currency, What Secretary Richardson Says About Resumption. Stoppage and Curtailment of Work in Eastern Mills. The Embarrassment Caused by Scarcity of Cash Orders. NEW YORK. WILL RESUME. NEW YORK, Oct. 25.-In view of the depression in Wall street to-day, the announcement is gratifying that the well-known dry goods firm of Peake, Opdyke & Co., who susponded just three wooks ago, at the time of the panic, will resumo business on Monday next. The event will donbtless contributo greatly to the restoration of business confidence. PROCEEDINGS SUSPENDED. Prosper P. Shaw, one of the Directors of the New Jersey Southern Railroad, who brought suit against the Company for $70,000, having made call loans to the road amounting to $100,000, says he intends to take no further steps in the proceeding, being convinced the road can be made to meet all liabilities and become a profitable enterprise. THE KENYON cox & CO. BANKRUPTCY CASE has been again postponed. It is said that privote negotiations are going on with a view to settlement. HOBOKEN SAVINGS BANK. The Evening Mail BRYS soveral Directors of the Hoboken Savings Bank have, during the last three or four days, mado extensive transfors of property. In view of their action, County Clerk Konedy, who has $8,000 on deposit in the bank, made a peremptory demand for money. He did not get it, and will, it is said, throw the bank into liquidation. THE TRADES. The effects of the late panio are very apparent in the dullness of several ornamental trades, some of the manufacturers employing their men but eight hours a day, and paying them only a percentage of wages. The employers, however, are daily expecting an improved state of affairs, and will not discharge their men unless business becomes really unprofitable. Builders assert that the outlook for abundance of work is not very promising, and any they are absolutely compelled to reduce wages in order to carry on their business and reap a decent profit. The master masons announce that after Nov. 1 noxt they will pay masons and bricklayers $8.50 a day, and laborers 82. The men have not yet taken any action on the proposed reduction. The Bricklayers and Masons' Union, of this city, is a very powerful organization, whose members have time and again dictated laws to the master masons. The prevailing sentiment among mechanics of all classes seems to favor a settlement of all questions of wages by arbitration rather than by strikes and kindred agitations.


Article from Chicago Daily Tribune, October 27, 1873

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FINANCIAL. NEW YORK. WILL RESUME. NEW YORK. Oct. 25.-In view of the depression in Wall street to-day, the announcement in gratifying that the well-known dry goods firm of Poako, Opdyke & Co., W.J suspended just three weeks ago, nt the timo of.tho paute, will resumo busi11038 on Monday noxt. The event will doubtless contribute greatly to the restoration of business confidence. PROCEEDINGS SUSPENDED. Prosper P. Shaw, one of the Directors of the New Jersoy Southern Bailroad, who brought suit against the Company for $70,000, having made call loans to the road amounting to $100,000, says he intends to take no further steps in the proceeding, being convinced the road can be made to meet all liabilitice and become a profitable onterprise. THE KENYON COX & CO. BANKRUPTCY CASE bas been again postponed. It is said that private negotiations are going' on with a view to settlemont. HOBOKEN SAVINGS BANK. The Evening Mail says several Directors of the Hobokon Savings Bank have, during the last three or four days, made extensive transfers of property. In view of their action, County Clerk Kenody, who has $8,000 on deposit in the bank, made a peremptory demand for his money. Do did not get it, and will, it is said, throw the bank into liquidation. THE TRADES. The effects of the Into panio are very apparent in the dullness of soveral ornamental trades, some of the manufacturers employing their men but eight hours a day, and paying thom only a percentage of wages. The employers, however, are daily expecting an improved state of affairs, and will not discharge their mon unless business becomes really unprofitable. Builders assort that the outlook for abundance of work le not very promising, and say they are absolutely compelled to reduce wages in order to carry on their business and reap " decent profit. The master masous aunounce that aftor Nov. 1 next they will pay masons and bricklayers $3.50 a day, and laborers 82. The men have not yet taken any action on the proposed reduction. The Bricklayers and Masons' Union, of this city, is a vory powerful organization, whose members have time and again dictated laws to the master masons. The prevailing sentiment among mechanics of all classes seems to favor n settlement of all questions of wages by arbitration rather than by strikes and kindred agitations.


Article from The Cairo Bulletin, November 12, 1873

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gether null and void. It also indicts the major excommunication ippso facto on canom and dignataries of cathedrals if they vexture to give up the administration of any church to such nominee of the civil power, reserve absolution in such case, especially to the Roman pontiff, for the time being, and declares all acts of such instructors to be null and void. LAMAR VS. DANA. The suit of Gazzaway B. Lamar of Sn. vannah, Georgia, against Chas. A. Dana for alleged false imprisonment, while the was was argued latter in the assistant United secretary States District of war, court to-day, Dana's defense is that the arrest was made in good faith under the orders of President Lincoln. RAILROAD DIRECTORS At a meeting of the directors of the Hannibal and St. Joe railroad to-day, A. W. Lamb of Hannibal, was elected preident of the company. The officials of the Hoboken savings bank, which institution. has been aus. pended nearly ten weeks report Fisk & Hatch intend soon to resume payment. when the savings bank will again open for business. In response to appeals from the laborers of Brooklyn the Board of City Works to-day set 450 men to work on public improvements. The total amount contributed for the relief of the Memphis sufferers on election day was $7,836. TERRIBLE ACCIDENT A boiler exploded this evening at the used avenue corner Fourth by of Coyne Fifth & avenue improvements. Beener, and contractors Twelfth Seven street of persons were instantly killed, and several wounded. All of the killed had either the whole or a portion of their heads blown off. The following are the names of those killed : John Gibson, John Folley, Phillip Miller, George Beecher, Louis Baisford, aged 18, Wm. Breth, a choolboy who was passing over a temporary bridge to the track, aged 14, and Irwin Bitteriaine, aged 12. Along the upper portion of Fourth avenue the N. Y.C. and Hudson River street R. R. Co. for is the engaged purpose in of excavating sinking their the tracks below the present level. Numerf ous ) are on power hoisting from movable Riachinery engines worked by used steam I the work of excavation and it was the s one was boiler which exploded of to-day. of those The boiler engines an upright high pressure of tubular sort. was t to a age had It intrusted in charge it of boy John 13 years Barmer, of who who had been allowed to act as engineer to a score 8 a boiler the exploded peril of with terrible of lives. noise, The and an instant afterward. as the dirt and de, bris cleared away, the ground was seen to f be strewn with the bodies of dead and wounded, horribly torn and mutilated.


Article from Ottumwa Weekly Courier, November 13, 1873

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NEW YORK. NEW YORK, Nov. 11-The general road and steamship ticket agents held a meeting to-day and formed a permanent organization for the purpose of maintaining passenger the railroad rates, and protection against managers to abolish the business of commission agencies. Every agent in the city was present, and steps were taken to unite the agents throughout the country. A committee was appointed to represent the association at a railroad meeting in Chicago on the 19th inst. At a meeting of the Directors of the Hannibal & St. Joeseph Railroad, A. W. Lamb, of Hannibal, was elected President of the company. By a boiler explosion on Fourth Avenue' this afternoon, seven persons were killed and several injured. The officials of the Hoboken Savings Bank, which has been suspended nearly ten weeks, report that Fisk & Hatch will soon resume payments, when the savings Bank will again open for business. NEW YORK, Nov. 12.--The failures in the tea trade yesterday are attributed rather to competition, which is growing up in the west, than to panic. The Great Western marts, it is said, are receiving their teas mainly by way of San Francisco, and many smaller firms here have been wound up owing to this withdrawal of trade. The decreasing trade is mentioned as the cause of one of the heaviest importing firms advertising two vessels of their fleet for sale. At a cabinet meeting yesterday a Washington correspondent makes the President say that he had read that eighty Cuban insurgents captured as prisoners of war had been shot on the field, and while the report lacked confirmation he was prepared to hear of its confirmation. After what had already occurred in Cuba, he was satisfied that the Spanish government did not and would not approve of such butchery. It was a matter, however, which an enlightened nation could not overlook, if indeed this warfare was necessary to the support of the Spanish republic. Individually he could not wish such a government prosperi If the Spanish people in their effort to establish a republican form of government could not control their possessions in Cuba, then in the interests of humanity he thought it time to inter: fere, not to encourage the struggling Cubans, nor embarass the Spanish re public in any way, but wholly in the interest of civilization and humanity. NEW YORK, Nov. 12.-The financial situation is improving and the money market has fairly settled down to seven per cent. with nothing doing above Some trouble is found in money many that rate. quarters in placing at this rate particularly for government bonds as security. I The banks have made a further gain of twelve thousand dollars in legal tenders to-day, making the total now f held by the Associated Banks at twenty-six million two hundred thousand dollars. : Relief, or loan certificates, issued to i banks during the heaviest panic presi sure upon them, are being liquidated gradually, so as not to bear too hoavily on merchants.


Article from Alpena Weekly Argus, November 18, 1873

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Col. James Lupton, formerly paymaster in the United States army, who gave Capt. Hall the book on the eve of his departure, wished to obtain it if ever found, as he carried it through our civil war, she relinquished the wish. Mrs. Hall was visibly affected when she saw the deeply worn volume. The old inscriptions made by paymaster Lupton on the fly-leaf, "Lookout Mountain," "Stone river," "The Bloody Field of Chickamauga," "On the march to Atlanta," etc., etc., can still be easily read. The officials of the Hoboken Savings Bank, which institution has been suspended nearly ten weeks, reports that Fisk & Hatch intend soon to resume payment, when the Savings Bank will open for business. The loss of the Ismalia is fully credited at the Ship-news Exchange. She sailed for the Mediterranean on the 29th of September with a heavy load of freight, but carried no passengers. The last seen of her was on the 2d ult; when she was stopped off the coast of Nova Scotia by a sailing vessel short of provisions. The vessel and cargo were valued at nearly half a million.


Article from Elizabeth Daily Monitor, November 26, 1873

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NEW JERSEY NOTES. A further deficit of $5,000 has been discovered in the accounts of ex Collector Broadwell, of Newark. The Morris and Essex railroad company will apply. to the legislature for authority to run a new ferry across the Hudson river. Thomas and William Munro were arrested in Jersey City yesterday on a charge of attempting to rob the Centenary M. E. church on Pavouia ave nue. They had entered the church, but were frightened away before they had secured anything. In the United States court at Tren ton yesterday, E. M. Miler was ap pointed assignee of the New Brunswick carpet company. The assignee was given permission to use up the piece material, and to run the machinery at stated times to prevent its deterioration. The hearing in the Hoboken savings bank bankruptcy case has been postponed for two weeks. Commissioners Farrier and Gillette, of the Jersey City Board of Public Works, indulged in some unbecoming personalities at a meeting of the Board yesterday. Mr. Farrier, as one of the committeee to whom the bills had been referred, had audited a bill of $246.20 for setting twelve drinking fourtains and a second bill of $369.49 for setting twelve horse troughs. Mr. Gillette objected to them as excessive. Mr. Farrier said that as Mr. Gill tte had shown SO decided a disposition for economy he had bet er "go down to the city treasury and pay back the money he had overdrawn last year." Mr. Farrier subsequently offered a resolu tion that Mr. Gillette be requested to refund to the city treasurer the amount of the overdraft. He said that Mr. Gil lette's salary was reduced in March last from two thousand and five hundred dollars to one thousand dollars per year, but that Mr. Gillette drew for March at the rate of two thousand and five hun dred dollars. Mr. Gillette explained that it was a mistake and seconded the motion, which was finally lost.


Article from Elizabeth Daily Monitor, December 2, 1873

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NEW JERSEY NOTES. The panic has seriously affected trade in Rahway. The largest firms have stopped work. Work has been suspended on the Easton and Amboy railroad. The supervision officers, except two, have been discharged. Stephen Rockwell, a mechanic, died in Paterson yesterday from poison by colchicum, taking the mixture internal ly instead of using it externally. Patrick Larkins, who was 80 terribly ent with a hatchet in Jersey City on Nov. 12, lies in a critical condition and cannot survive. He is sixty-five years old, and has eaten nothing since the assault. On November 22 a married woman named Brennan, suddenly died and was buried at Clinton. Suspicions of murder have been set afloat. and the body has been exhumed for post mortem examination. The depositors of the Hoboken Savings Bank held an exciting meeting last night in Odd Fellows hall, to take action concerning the recovery of their money. A committee was appointed to make a thorough investigation.


Article from New-York Tribune, December 2, 1873

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# THE HOBOKEN SAVINGS BANK. A meeting of the depositors of the Hoboken Savings Bank which suspended payment some months since, was held last evening, at which it appeared that there are about 4,600 depositors, most of whom are poor laborers, and that there is a deficiency of $54,000 beside $94,000 which is tied up with Fisk & Hatch. After a warm discussion, a resolution was passed "that the chairman appoint a committee to ascertain if any one can be found that will give security for the payment of the money, if the depositors do not throw the institution into bankruptcy." The committee of five was then appointed, with John Kennedy as chairman.


Article from The New York Herald, December 21, 1873

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THE HOBOKEN SAVINGS BANK. In the United States Court at Trenton yesterday the petitioning creditor withdrew his suit, it having been announced that the claim against Fisk & Hatch for $94,000 had been adjusted and the other difficulties overcome. The bank may consequently resume at an early day; otherwise another petition will be filed against it. The probability is that the directors will soon reopen the concern. The result will be an overwhelming run, which cannot cease until the last mortgage held by them is foreclosed. The reason is that the depositors have lost all confidence in the Board because of their action during the Klenen rΓ©gime. The universal wonder is that the SIX or seven sterling men in the Board allow their names to be connected with the other directors. The only possible measure to avert the coming run and panic is for the directors to reorganize. They owe it to the thousands who suffer by the existing state of things. If the wirepullers stubbornly persist in keeping their places, the whitewash of local sycophants cannot conceal their real motives for so doing. The managers have repeatedly declared that they received no pay for their services, and hence it cannot be difficult for them to rest from their long and philanthropic labors. It should be remembered at the same time that a few outsiders have been airing themselves at depositors' meetings and elsewhere, with the sole desire of getting into the Board of Managers. Some of these men have already read the bankruptcy law to advantage, and would become elements of destruction rather than of recuperation. But there are many good and trusty men in Hoboken who ought to be put in the places of those that have lost caste in the Board of Directors.


Article from New Orleans Republican, January 21, 1874

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NEW YORK, (The Steamer City of Panama. NEW YORK. January 20.-The Pacific Mail Steamship Company say the City of Panama is one of the now fleet of iron steamers built by John Roach & Sons. She was delivered at our dock by the builders on the tenth instan%, but was not fully come pieted in the matter of 'her outfir. and Roace has had fifty men at work upon her since her arrival. and will not withdraw them until to night. No vrew has ever been II board of is other than those employed by Roach, 08 engineers, sailors a coal passers. It was not intended to take passengers 49. this her first trip, as the managers eleeired to make a trial trip of her machinery before sending her to the Pacific coast. There was no mail on board. and the post office department was notified on Thursday last that the ship would sail on Tuesday the twentieth instant, at twelve o'clock M. Death of the Siamese Twins. & dispatch from Richmond, Virginia, saye a dispatch from Greensboro, North Carolie na, gives the announcement of the sudden death of the Siamese twins on Saturday morning last, at their residence at Mount Airy, Surry county, North Carolina. There are no details further than the fac? that Chang was paralyzed last fall, since which time hehas been tretful, very much debilitated. and strongly addicted to drink ing liquor as a means of alleviating his and ferings. He had Seed quite feeble for several days indeed, so much as to confine both brothers to bed, but the illness was not so great as to cause any anticipation of the catastrophe that was to follow. On Friday night they retired to bed as usual, but during the night Chang became worse and expired suddenly about four o'clock Saturday morning. As soon as it was discovered that he was dead, Eng be. came so terribly shocked that he raved wildly for awhile, at times exhibiting signo of great mental aberration. This attack was followed by what seemed to be a deadly stupor. In two hours. it is supposed. from the death of Chang. sing breathed his last. Mexico. A Herrill special from the City of Mexico saye the grant to the Mexican Railroad Company has been approved by Congress. The grant to the Tehuantepec Company been suspended for a year. All Mexico is in peace. The Arapiles, The Spanish man-of-war Arapites good of the dry dock again to repair the damage caused is striking a reef in the East river. The Hoboken Savings Bank has resumed. Navy Yard Matters. A large number of men were discharged from the navy yard last night, and more will be discharged by Saturday. The work of repairing the Florida and Minne BOTA will be discontinued. The monitor Dictator is lying at the main dock taking. in coal: she will not leave the yard until next Thursday. The Roanoke will go down the bay in a couple of days. The sloop-of-war Frolic sailed for Key West to day, carrying out a draft of sailors COPOSE squadrors Dead. D The servant Eiri who was shockingly ino jured by jumping from the window of Mro Stiner's house, during the fire last weeko o has since died. Important Decision. a Judge Blatchford to-day decided $ case where certain banks claimed to be COR sidered special creditors that the bankrupt laws of the United States did away with all claims of banking institutions as prior to those of other creditors, and that banko should be ranked among general creditoreo s Tug at Secretary Richardsone At a meeting of steamboat and tug with are 10-day a committee was appointed to confer with Secretary Richardson 80% 0.0 kolds times


Article from New-York Tribune, April 15, 1874

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A JERSEY CITY DEFAULTER ARRESTED. On the 13th of April, 1873, Frederick W. Klennan, the cashier of the Hoboken Savings Bank was informed by the Board of Directors that a Committee would examine his books, because of some irregularities accidentally discovered, and on the following day Klennan disappeared. The subsequent examination of affairs showed that he had taken over $20,000 in bonds and a quantity of cash. A run on the bank followed the publication of these facts, and the bank was compelled to suspend business. An expert was employed, and after several months of tedious examination it was found that Klennan had been abstracting money for a number of years, and it was not until all the books had been called in and examined that it was found that the entire amount stolen was over $69,000. The manner in which he had succeeded in hiding his peculations for so long a time was by keeping accounts open on the ledger after they had been closed on the pass-books. The case was put into the hands of Chief of Police Donovan of Hoboken last November, and that officer spent some time traveling in various parts of New-York and Connecticut in search of 8 clue to the defaulter's whereabouta. 11 having been ascertained that


Article from Daily Kennebec Journal, April 30, 1874

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NEW JERSEY. Hoboken, 59. Frederick Klenen, the fugitive ex-secretary of the Hoboken Savings Bank, who embezzled $140,000 of its funds, causing a suspension, and who was arrested after a long pursuit in Dover, England, March 31st, arrived yesterday in charge of detective McDonough.