Article Text
More Prosperity. Niagara Falls, N. Y., Dec. 11 The First National bank closed its doors today as the result of a run. West Superior, Wis., Dec. 11.-The National Bank of Commerce of Duluth failed this morning.
First National Bank (Niagara Falls, NY)
Episode Information
- Episode UID
489901164- Episode Type
- Run → Suspension → Closure
- Bank Type
- national
- Bank ID
-
48990national - Charter Number
- 4899
- Start Date
- December 11, 1896
- Location
- Niagara Falls, New York (43.094, -79.057)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
deecec212e77bafd
Response Measures
Full suspension, Books examined
Receivership Details
- Depositor recovery rate
- 100.0%
- Date receivership started
- 1896-12-18
- Date receivership terminated
- 1898-05-16
- OCC cause of failure
- Losses
- Share of assets assessed as good
- 35.3%
- Share of assets assessed as doubtful
- 49.7%
- Share of assets assessed as worthless
- 15.0%
Description
Known government receivership date (1896-12-18) applies; articles report suspension after a run Dec. 11.
Events (5)
1.
April 18, 1893
Chartered
- Source
- historical_nic
2.
December 11, 1896
Run
- Cause
- Bank Specific Adverse Info
- Cause Details
- Heavy withdrawals triggered by failures/financial losses among directors (Niagara Glazed Paper Co. failure) and weakened confidence.
- Measures
- None beyond directors' meeting and posting notice; bank later suspended.
- Newspaper Excerpt
- There has been a run on the bank for the past few days.
- Source
- newspapers
3.
December 11, 1896
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Directors decided to suspend after heavy withdrawals and recent losses to directors from the Niagara Glazed Paper Company and failure of newly elected president to qualify.
- Newspaper Excerpt
- The First National bank ... closed its doors this morning and posted a notice announcing its suspension.
- Source
- newspapers
4.
December 18, 1896
Receivership
- Source
- historical_nic
5.
December 18, 1896
Receivership
- Newspaper Excerpt
- Known receivership date from government records; bank placed in receivership (Comptroller appointed receiver).
- Source
- newspapers
Newspaper Articles (19)
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Article Text
BANK SUSPENSION. Niagara Falls, N. Y., Dec. 11.-The First National bank of this city did not open its doors for business this morning. The depositors will all get their money, it is said. There has been a run on the bank for the past few days.
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National Bank Closes Its Doors. Niagara Falls, N.Y., Dec. 11.-The First National Bank of this city closed its doors this morning and posted a notice announcing its suspension. The directors held a meeting last night to consider the condition of the bank's affairs, and at 12:30 o'clockthismorningthey.decidedto suspend. The action taken by the directors is said to be due to heavy withdrawals amounting almost to a run on the bank. It is believed that the depositors will be paid in full.
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BANK DOORS SHUT. The First National of Niagara Falls Closes Its Doors. Niagara Falls, N. Y., Dec. 11.-The First National Bank of this city, closed its doors this morning and posted a notice announcing its suspension. The directors held a meeting last night to consider the condition of the bank's affairs, and at 12:30 o'clock this morning decided on suspension. The action taken by the directors is said to be due to heavy withdrawals amounting almost to a run on the bank. It is believed the depositors will be paid in full.
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Ningara Falls Bank Fails Niagara Falls, N. Y., Dec. 11. At the First National bank this morning. a no uce WAS posted that the directors last night decided to close the institution It is said that depositors will get their money. A few days ago the Niagara Glazed Paper company failed and neveral of the bank directors were hard hit. This WISH generally known. and there has been it run on the bank the past few days. These facts and the failure of the newly elected president to qualify caused the suspension. The bank's capital was $100,000; individual deposits. $118,267 demand certifieaten outstanding $16,639; notes and bills re-discounted, $20,078.
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Two Banks Fail. NIAGARA FALLS, N. Y., Dec. 11.-At the First National bank of this city this morning a notice was posted that at the meeting of the directors last night It was decided to close the Institution. It said that depòsitors will get their money. A few days ago the Niagara Glazed Paper Company Lailed, and several of the bank directors were hit hard. This was generally known, and there has been a run on the bank for 8. few days past. These facts and the failure of the newly-elected president to qualify caused the suspension. At the last report the capital stock was $100.000: individual -eposits, $118,367; demand certificates outstanding. $16,639; notes and bills rediscounted, $29,678. WEST SUPERIOR. Dec. 11.-The National Bank of Commerce of Duluth failed to open this morning. A notice posted stated that owing to inability to make any money the directors had decided to suspend. but expected to pay depositors at an early date. The bank is capitalized at $200,000 and has $30,000 surplus. At the last report the capital was $200,000; deposits, $92,000.
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NIAGRA BANK FAILS. Washington, Dec. 11.-Notice was received of the failure of the First National bank Niagara Falls. The bank's capital was $100,000; individual deposits $118,267; demand certificates outstanding, $16,639; notes and bills rediscounted, $29,678. DULUTH BANK FAILS TO OPEN. West Superior, Wis., Dec. 11.-The National bank of Commerce of Duluth failed to open for business this morning. A notice posted on the doors stated that owing to inability to make any money in the business the directors had decided to suspend. The notice also stated that the bank expected to pay depositors at an early date. The bank is capitalized at $200,000 and has $30,000 surplus. GLASS FACTORIES RESUME. Pittsburg, Pa., Dec. 11.-A general resumption of operations in the window glass factories of the country will take place to-morrow, furnishing employment to several thousand workers. Five factories employing over 1,000 men will start up here to-night and a sixth employing 300 men to-morrow.
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THE FINANCIAL WORLD. A RUN ON A BANK. Niagara Falls, N. Y., Dec. 11.-The First National bank of this city closed its doors this morning and posted a notice announcing its suspension. The directors held a meeting last night to consider the condition of the bank's affairs and at 12:30 o'clock this morning decided to suspend. The action taken by the directors is said to be due to heavy withdrawals amounting almost to a run on the bank. It is believed depositors will be paid in full.
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Bank Falls at Niagara Falls. NIAGARA FALLS, Dec. 11.-The First National bank of this city did not open its doors for business this morning. It is said the depositors will get their money. The Niagara Glazed Paper company failed recently and several off the bank directors were hit by the failure. This was generally knows and there was a run on the bank for a few days past.
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TWO BANK FAILURES. West Superior, Wis., Dec. 11.-The National Bank of Commerce of Duluth failed to open for business this morning. A notice posted on the doors 'stated that owing to inability to make any money in the business the directors had decided to suspend. The notice also stated that the bank expected to pay depositors at an early date. The bank is capitalized at $200,000 and has $30,000 surplus. Washington, Dec. 11.-Notice was received of the failure of the First National Bank of Niagara Falls. The bank's capital was $100,000; individual deposits $118,276; demand certificates outstanding $166,639; notes "and "bills rediscounted $29,678. NEWARK AT KEY WEST. Washington, Dec 11.-The Newark has arrived at Key West.
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IN THE BANK EXAMINER'S HANDS. Niagara Falls, N. Y., Dec. 12.-Bank Examiner Van Brocklin arrived this morning and took charge of the affairs of the suspended First National Bank. On July 14 the bank issued Its last statement, which was as follows: Resources-Loans and discounts. $243,554.97 United States bonds, $2,500; due from United States Treasurer $1.125; cash on hand. $23,139.41: cash in bank. $44.699 37: stock and bonds, $2.600: furniture and fixtures. $3,548 total, $343,667.35. Liabiitties-Capital stock $100,000; surplus fund. $3,000: undivided profits $7.041.04: circulation, $22.200; deposits. $168,647 72; rediscounts, $42.778.59: total, $343,667.35.
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NOTES AND COMMENT. The First National bank of Niagara Falls, N. Y., has failed. Bryan's majority in Colorado was 127,942. The total vote was 188,400. The Niagara Glazed Paper Company of Niagara Falls, N. Y., has failed. Texas Populist papers are demanding the passage of the Australian ballot law in that State. Reports seem to indicate that Maceo, the Cuban General, was killed in a skirmish December 7. The dispatches state that Hanna will help Huntington get his Pacific railroad bill through Congress. Los Angeles Civic Review: "We wanted sixteen to one, but what we are likely to get is nothing to ate." It has been decided by the Executive committee of the gold Democracy to maintain the organization. The various National Soldiers' Homes cared for 40,448 veterans last year at an average of $111.60 each. The National committee of the National party is called to meet at the Sherman I House, Chicago, January 1. The National Bank of Commerce of Duluth, Minn., has closed its doors. The cause assigned is inability to make money. The Idaho Supreme court holds that the woman's suffrage amendment was legally adopted at the recent election in that State. The Supreme court of Kentucky has decided that whisky in bond in government warehouses in that State is subject to taxation. At Albany, Ga., a Negro charged with assaulting a girl was placed on trial, con. victed and sentenced to hang in one hour's time. The Union and Confederate soldiers of Missouri are being organized into one body under the name of the "Blue and the Gray." H.L. Loucks is a candidate for Senator from South Dakota to succeed Senator Kyle. Mr. Kyle is a candidate for reelection. Attorney General Harmon reports to Congress that the present anti-trust laws are defective and inadequate. He recommends legislation on this line. Missouri officers are still keeping up the search for Bob Taylor, the murderer who escaped from jail a few days before the date on which he was to hang. Of McKinley's 7,100,000 votes. 1,700,000 were colored and 19.92 per cent. were of foreign birth. Only 12.14 per cent. of Bryan's vote were foreign born. The Statistician of the National Department of Agriculture for December show that winter wheat is in better condition in Kansas than in any State in the union. Ex-President Harrison says that he has no desire to accept any position which would result in his return to public life. The people will be fully satisfied if his mind remains unchanged. Six men held up an Iron Mountain train within one mile of the St. Louis Union depot December 10. The express car was a through one, and all the valuables being locked in a strong safe, nothing was secured. The Santa Fe New Nexican makes the sensible suggestion that the present Department of Agriculture be abolished and in its place & Department of Industry be created, with bureaus of agriculture, mining and manufactures. William K. Vanderbilt contributed $150,000 to the Republican National campaign fund. The Pennsylvania railroad gave $100,000. These were the largest amounts given to the fund. The total fund ran thamilliana
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MORE PROSPERITY. IT IS BOOMING-THE BANKS HAVE THE SMALL-POX. Read this: Harlan, Iowa, Dec. 10.-Frederick A. Bennett, state bank examiner, took possession of the Harlan State Bank today under instructions from. the auditor of the state. Its capital is $50,000; deposits, $75,000, It was started last January. And here's another: Liverpool, Ohio, Dec. 10.-The banking-house of Jonathan Esterly & Co. of Columbiana, established by Jonathan Esterly in 1875, has gone into the hands of receivers. The assets of the house are given as $200,000, while the indebtedness to depositors is about $165,000. The receivers are Josiah Rohrbaugh and Aaron Esterly, who are required to give a $225,000 bond. It is said the appointment of the receivers is merely to wind up the business. And here's another-with only $29 of assets!! Who would be foolish enough to refuse to follow the lead of such a financier as that? These are our natural guides and guardians! Topeka, Kan., Dec. 10.-An examination of the assets of the recently failed Baxter Springs Bank, of which Colonel Alexander Warner was president, reveals only $29,36 in cash on hand. The capital stock of the bank was $65,000. And here is another. Four bank failures in one day! Prosperity must be here. Washington, Dec. 10.-The comptroller of the currency has appointed Thomas A. E. Weadock of Michigan receiver of the First National Bank of East Saginaw, Mich. And here is another, the next day, Dec. 11. Duluth, Minn., the National Bank of Commerce, of Duluth, failed to open for business this morning. A notice posted on the doors stated that owing to the inability to make any money in the business, the directors had decided to suspend. The notice also stated that the bank expected to pay depositors at an early date. The bank is capitalized at $200,000, and has 30,000 surplus. And here is another: Washington, Dec. 11.-The comptroller of the currency has received notice of the First National Bank of Niagara Falls. The bank's capital was $100,000; individual deposits, $118,267; demand certificates of deposit outstanding, $16,639; notes and
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The First National Bank of Niagara Falls, N. Y., has suspended; cause, heavy withdrawals, amounting almost to a run on the bank. The British barque Kildonan, from Greenrock, for Newport News, was abandoned in a sinking condition, December 6th, in latitude 46 north, longitude 7 west. The crew have arrived at Hull. The German ship Rajah, Capt. Bellmar, from Berry. Wales, for Hong Kong, foundered in the British channel. Two of her crew have been picked up. Seventeen others, the remainder of the crew were drowned, The steam yacht Advance, of New York, which arrived at Norfolk yesterday, is being closely watched by the Government authorities. There is no positive evidence that she is a filibuster, but a very vigilant eye is being kept upon her.
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City Brevities Rumsey C. Smith was arrested last night for fast riding by Policeman Robertson, of the Eighth precinct. Dallas E. Brady was locked up at the E street station-bouse last night on the charge of beating his wife Mary. Harmer St. C. Denny of Buffalo wasyesterday appointed receiver of the First National Bank of Niagara Falls, N. Y. J. Taylor Ellyson, mayor of Richmond, Va., and chairman of the Democratic State central committee, is registered at the Raleigh. A four-story apartment house will soon be crected at No. 1631 Nineteenth street. The building will be of brick with a Seneca stone front. Department Commander John C. McElroy with members of his staff made an official visit to the temporary home for soldiers last evening. Rev. C. B. Ramsdell, pastor of the North Presbyterian Church, will discuss "Foundations" tomorrow afternoon at the Y. M. C. A. gospel meeting for men. A youth named Sonny Blackstone was arrested last night for pigeon stealing and locked up at No. 2. The stolen birds were in Blackstone's pockets when arrested. W. S. Ballinger was-arrested yesterday by Humane Officer John Reiplinger and Policeman Boswell, of the Eighth precinet, on a charge of cruelty to animals. The educational department and literary society of the local Y. M. C. A. have practically taken a holiday until after the close of the Christmas social season. Plans for the proposed new building of the Washington Hebrew Congregation have been accepted and building operations will be commenced in the early spring. Laura Henry, a cook at No. 3300 O street northwest, started to carve a steak last evening. and came near severing a middle finger. Herinjuries were dressed at Emergency Hospital. Mount Vernon Assembly of Painters, No. 1748, held their annual election of officers last evening at the rooms of the Workingmen's Library Association, No. 316 Eighth street northwest. The police made seventy-four arrests during the twenty-four hours ending at 9 o'clock yesterday morning. There were forty-three colored prisoners and thirtyone whites, eight being women. Thomas Cox and Lewis Fields, colored boys, stole a ham from in front of a Fourand-a-balf street meat stand last evening and later landed in the E street stationhouse to answer a charge of petit larceny. The current number of the Y. M. C. A. Monthly contains an interesting historical sketch of the organization of the association, written by Mr. Otes C. Wight and contributed by his son, Mr. John B. Wight. Two vagrants picked up by Mounted Policeman Boland at the Benning stock yards were locked up at the Ninth precinct last night. August Malfeldt and Thornton werethe namesthey gave. Charles Belt, a colored lad, started on
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TELEGRAPHIC RESUME. Things That Have Happened all Over the Country MENTIONED IN THESE PARAGRAPHS. Selections That Will Greatly Interest Our Readers Both Old and Young. Ludwig Schuett, a German, tried to murder the German Consul-General in New York. William J. Bryan has contracted with J. J. Rohce of New York for a lecturing tour. Josephine Jeroski, grandniece of the great Pulaski, has committed suicide 'X 'N Brooklyn, u! The Salvation Army intends to make a specialty of finding lost friends for those who apply. The American Bessemer Association, controlling $25,000,000 of proprety, will probably be dissolved. A Milwaukee man has left $4000 to a certain lodge, provided its members drink two kegs of beer at one sitting. Repubilean mombers of the Congressional Ways and Means Committee have started work on a new tariff bill. An Omaba dispatch says the District Court at Omaha has declared the city curfew ordinance unconstitutional. Chicago constables with drawn pistols prevented a performance from going on, because the theater was under attachment. Contributions for foreign missions have increased in the past year $1,100,000, but in the United States there has been a decrease of $70,000. Miss Frances E. Willard has issued an appeal to the "dear mothers and sisters of America" asking them to remember at Christmas time the orphans of Armenia. The First National Bank of Niagara Falls, N. Y., has closed. The failure was due to heavy withdrawals. The assets and liabilities are estimated at $300,000. O. L. Partridge, formerly secretary of the Alpena Loan and Building Association, has been found guilty of embezzling $20,000. It practically wrecked the association, in which many poor persons had invested their savings. William E. Kettles is the name of the operator in Washington who, on April 3, 1865, received the telegraph message from General Weitzel to Secretary Stanton announcing the capture of Richmond. Kettles was then only 15 year old. The Casino building, together with the bridge which spanned Four Mile Run at the main entrance to Schley Park, Oakland, Pennsylvania, has been destroyed by fire. The Casino building and contents represented an investment of $540,000. Insurance, '000'92$ The Homestead Mining Company of Deadwood, South Dakota, has met with a heavy loss, which will delay the construction of its new Ellison hoist, which was found to be on fire, and before it could be controlled nearly all in the building that was combustible was destroyed. The building was
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BANK CASHIER ARRESTED. Henry Durk of the Niagara National Arraigned. Buffalo, N. Y., Jan. 3.-Henry Durk, cashier of the defunct First National Bank of Niagara Falls, was arrested late yesterday afternoon, brought to this city, and arraigned last night before Commissioner Norton on charge of beingimplicated in the failure of the bank. The warrant for the arrest was sworn out by Bank Examiner Van Brocklin, who was placed in charge of the bank until a receiver was appointed. Durk pleaded not guilty and was released on bail, pending a hearing on January 15. The warrant charges Durk with certifying to checks of the Cataract Milling Company, when the company had no funds in the bank. Colonel C. B. Gaskill was president of the Cataract Milling Company, which failed shortly after the bank closed, and it is supposed that the checks in question were among the alleged overdrafts made by him, which have been the subjet of much adverse comment.
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Cashier Pleads Not Guilty. BUFFALO, N. Y., Jan. 2.-Henry Durk, cashier of the First National Bank of Niagara Falls, which recently suspended. was arraigned to-night before United States Commissioner Norton, in this city, on a charge of being implicated in the failure of the bank. He pleaded not guilty, and was admitted to bail in $10,000. He is alleged to have certified checks of the Cataract Milling Company when that corporation had no funds in the bank.
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CRIME OF A BANK CASHIER. Niagara Falls, N. Y., Jan. 7.-Another startling disclosure was made in the affairs of the suspended First National Bank to-day. when it was discovered that $400 which had been handed to Henry Durk, as trustee of the Hospital Association. to be deposited by him. as cashier of the bank. had never been credited to the association. Receiver Denny found that the association's account had been overdrawn $400, and an investigation showed that Durk had opened up an account against the association. charging it with a withdrawal of $400, while no record of a deposit appears whatever.