Second National Bank (Lafayette, IN)

View Charter #417 on SPMC View balance sheet

Episode Information

Episode UID
41700935
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
4170 national
Charter Number
417
Start Date
November 28, 1877
Location
Lafayette, Indiana (40.417, -86.875)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e1de40ead9bbe6ea

Response Measures

None

Description

Articles report suspension Nov 28, 1877 due to cashier defalcation and mention planned liquidation.

Events (4)
1. May 5, 1864 Chartered
Source
historical_nic
2. November 28, 1877 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Defalcation by cashier Charles T. (or F.) Mayo; reported shortfall about $57,000; assets ample but not immediately convertible
Newspaper Excerpt
The doors of the Second National Bank of this city closed at 1 o'clock to-day, and a notice was posted ... the Directors had decided that it was best for all concerned that the bank suspend payment
Source
newspapers
3. December 20, 1877 Voluntary Liquidation
Source
historical_nic
4. December 23, 1877 Other
Newspaper Excerpt
the second national bank, of Lafays ,Ite. Indiana. plundered of $58,000 by a efaulting cashier, has had that amount made good, but will nevertheless go into iquidation.
Source
newspapers

Newspaper Articles (12)
1. November 29, 1877 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, November 29, 1877

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Article Text

ANOTHER DEPAULTER. Special Disputch to The Chicago Tribune. LAVAYETTE, Ind., Nov. 28.-The doors of the Second National Bank of this city closed at 1 o'clock to-day, and a notice was posted, signed by the President, Daniel Royse, stating that the Directors had decided that it was best for all concerned that the bank suspend payment; that the assets were ample' to pay depositors, but that the cash could not De realized in time to prevent the suspension; that an examination of the bank would be made and & statement pub-

2. November 30, 1877 The Daily Gazette Wilmington, DE
Article from The Daily Gazette, November 30, 1877

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Article Text

GENERAL NEWS. The Supreme Court of Appeais of Virginia decides that the Baltimore and Ohio Railroad Company 18 liable for damages for the persons killed at the Narrow Passage accident on the Valley division. Francis A. Eastman, formerly postmaster of Chicago, has filed a voluntary petition in bankruptcy. His secured debts amount to $52,000, due the United States; unsecured debts, $29,000; assets, $9,500. Bishop Walsh, of Ontario, was presented on the occasion of the tenth anniversary of his consecration, Wednesday, with a number of addresses, a purse of $3,000, and other valuable gifts by his priests and people. Elizabeth Robinson, of Antwerp, N Y., stopping at the Woodruff House, in Watertown, N. Y., blew out the gas on retiring Wednesday night, and was found next morning almost suffocated. Recovery doubtful. The Woman's Christian Temperance Union at Utica. N. Y., under the direction of Prof. Evans, of the Murphy reform movement, gave over 2,000 of the poor of that city a Thanksgiving dinner yesterday. Over 400 took the pledge. Louis F. Therasson, the New York lawyer, who was arrested last Friday on orders issued in two suits brought to recover an alleged deficiency of over $100,000 in his accounts with the Titus and Zabriski estate, was admitted to bail Wednesday. H. Ives & Co., hardware merchants, Montreal, Canada, have made an assignment; liabilities about $350,000. They only ask time. The Bank of Montreal 18 the largest creditor, and offers to give all the necessary accommodation, and the business will go on as usual. The Second National Bank of Lafayy ette, Ind., has suspended owing to a defalcation of the cashier. Charles T. Mayo. The amount of the detalcation as far as ascertained is $57,000. The asg le sets are said to be ample, but cannot now be readily converted into cash.

3. November 30, 1877 New-York Tribune New York, NY
Article from New-York Tribune, November 30, 1877

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Article Text

A BANK BROKEN BY A THIEVING CASHIER. CINCINNATI, Ohio, Nov. 29.-The Second National Bank of Lafayette, Ind., suspended yesterday, owing to a defalcation of the cashier, Charles T. Mayo. The amount of the defalcation, as far as ascertained, is $57,000. The assets are ample, but cannot now be readily converted into cash.

4. November 30, 1877 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, November 30, 1877

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Article Text

Commercial Failures. SUSPENSION OF AN INDIANA BANK ON ACCOUNT OF THE DEFALCATION OF ITS CASHIER. LAFAYETTE, IND., November 29.-The Second National Bank has suspended on account of the defalcation of its cashier. The assets are ample, but not immediately available. FAILURE OF A LONDON WINE-HOUSE. LONDON, November 29.-Richard Hooper & Sons, wine- and spirit-merchants of London, have failed. Liabilities, $1,250,000.

5. November 30, 1877 The Daily Gazette Wilmington, DE
Article from The Daily Gazette, November 30, 1877

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Article Text

BANK SUSPENSION IN INDIANA. CINCINNATI, Nov. 29 - -A special states that the Second National Bank of Lafayette, Ind., suspended yesterday, owing to a defalcation of the cashier, Charles T. Mayo. The amount of defalcation, as far as ascertained, is $5,700. The assets are ample, but cannot now be readily converted into cash.

6. November 30, 1877 The New York Herald New York, NY
Article from The New York Herald, November 30, 1877

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Article Text

BANK SUSPENSION. CINCINNATI, Ohio, Nov. 29, 1877. A special states that the. Second National Bank of Lafayette, Ind., suspended yesterday, owing to a defalcation of the cashier, Charles T. Mayo. The amount of the defalcation, as far as known, 13 $57,000. The assets are ample, but cannot now be readily convertea into cash.

7. December 1, 1877 The Democratic Advocate Westminster, MD
Article from The Democratic Advocate, December 1, 1877

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Article Text

Charles T. Mayo, cashier of the Second National Bank of Lafayette, Indiana, has defaulted to the amount of $57,000. Th e bank has suspended in consequence.

8. December 6, 1877 The Democratic Press Ravenna, OH
Article from The Democratic Press, December 6, 1877

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Article Text

THE Second National Bank of Lafayette, Indians,enspended on the 28th ult., owing depositors $200,000 among whom was the County Treasurer to the amount of $40,000. The cashier, who was at home sick, in a note to the President of the Bank, confesses himself a defaulter to the amount of $57,000. code

9. December 7, 1877 South Branch Intelligencer Romney, WV
Article from South Branch Intelligencer, December 7, 1877

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Article Text

The Second National Bank of Lafayette, Ind., has suspended owing to 11 defalcation of the cashier, Charles T. Mayo. The amount of the defalcation as far as ascertained is $57,000. The assets are said to be ample, but cannot now be readily converted into cash.

10. December 13, 1877 The Manitowoc Tribune Manitowoc, WI
Article from The Manitowoc Tribune, December 13, 1877

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Article Text

Financial and Industrial. CHICAGO elevators contain 515,232 bushels of wheat, 294,880 bushels of corn, 84,168 bushels of oats, 61,580 bushels of rye, and 546,414 bushels of barley, making a grand total of 1,502,274 bushels, against 4,716,870 bushels at this period last year. THE failure of Richard Hooper & Sons, of London, wine and spirit merchants, is announced. Liabilities, $1,250,000. OWING to the defalcation of the cashier, the Second National Bank of Lafayette, Ind., has collapsed. NAVIGATION on the lakes and the Upper Mis sissippi is virtually suspended for the season. Two LARGE firms at Indianapolis failed the other day, viz., Maxwell, Fry & Thurston, iron merchants, and Dunham & Blackmore, commission men. THE public debt statement published Dec. 1, gives the total of the bonded debt at $1,721,934,450; the debt without interest at $437,893,411; interest due at $31,644,707; the cash in the treasury at $188,647,612; the debt less cash in the treasury at $2,046,027,065; decrease during November, $1,323,634; Pacific railroad bonds, $64,622,542; interest paid by the United States, $26,982,195.

11. December 14, 1877 The Jasper Weekly Courier Jasper, IN
Article from The Jasper Weekly Courier, December 14, 1877

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Article Text

WEST AND SOUTHWEST. Mrs. E. P. Shall, a boarding-house keeper at Columbus, O., was fatally burned on the 28th, while kindling a fire with coal-oil. The desperado Rand has been identified as a man known as Charles A. Vanzandt, who was sentenced to the Northern Indiana Penitentiary in 1872, for the term of five years, for a burglary committed at Lafayette, Ind. He was discharged in May last, upon the expiration of his sentence. Roper, alias McGhee, a negro, was hanged by a mob at Columbia, Tenn., on the 27th, for an attempted outrage upon a white lady named Miss Bettie Templeton. The second National Bank of Lafayette, Ind., suspended payment on the 28th. The Cashier, Mr. Charles F. Mayo, acknowledges himself a defaulter to the amount of $57,000 which he had squandered in outside speculations. Gov. Anthony of Kansas is in receipt of information from the Secretary of State of the United States, that Chas. G. Scrafford is in prison in Callao, Peru. Scrafford was a partner of the late State Treasurer Lappin, and there is evidence that he' was associated with Lappin in embezzling the money of the school fund of Kansas. Papers will at once be made out, so as to demand Scrafford from the Government of Peru under the extradition treaty. Three colored children, aged 10, 8 and 5 years, were left alone in a house in Sedalia, Mo., on the evening of the 29th. In some way the house took fire, and the two younger children were burned to death. The eldest barely escaped. A Galveston dispatch of the 2d says that up to that date nothing had been heard from Lieut. Bullis and Col. Young, who some time previously crossed the Rio Grande with a detachment of United States troops in pursuit of thieving Lipans and Mexicans. It was believed that they had either been killed or captured. A fight between the adherents of Lerdo, under Gen. Amador,and the Government troops under Gen. Falcon, had taken place about 25 miles from Matamoras, in which the insurgents were routed and many killed. The revolt is said to have been part of an elaborately planned revolution by Escobedo, which was to be developed simultaneously along the entire border, but was frustrated by the energy of the Government commanders. At Cincinnati, on the 2d, Charles B. McGill shot and killed a young woman, paramour, named Mary Kelly. The bodies of Antonio Nicrasi and Miss Aurelia Sharp were found in the cemetery at Montgomery, Ala., on the morning of the

12. December 23, 1877 The Cairo Bulletin Cairo, IL
Article from The Cairo Bulletin, December 23, 1877

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Article Text

EDITORIAL NEWS NOTES. -Ray, White & Co., of the Louisville tobacco warehouse, the second largest stablishment of the kind in the state, I ave been forced to suspend. --The second national bank, of Lafays ,Ite. Indiana. plundered of $58,000 by a efaulting cashier, has had that amount made good, but will nevertheless go into iquidation. -Charles Francis Adams, Jr., is occu, pying the old Heoper residence in Washington this winter, and is employing his time writing the life of Albert Gallatin. -The Rev. Dr. E. C. Wines, of New York, has drawn $4,000expenses already incurred in making preparations to reps resent the United States at the Internatis onal Prison Congress at Strokholm next year, and $4,000 remains of the appros priation to detray his expenses as a deles gate there. -The New York firm, in whose interest all the trouble over the salt mine at El Paso has been occasioned, is said to be Foster. Ludlow & Co., who recently purchased the salt take under some old Mexican giant, and appointed Judge Howard their agent to protect the salt, and assess a royalty of 7 cents a bushel upon it. Judge Howard was killed by the enraged inhabitants, who then dis banded.