Jarvis Conklin Mortgage Trust Company (New York, NY)

Episode Information

Episode UID
658179691117
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
65817969 hash
Start Date
January 1, 1893*
Location
New York, New York (40.714, -74.006)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
68bb06d8b6b1fa01

Response Measures

None

Description

The company failed in 1893; these 1895 articles document the final receivership sale and reorganization into the North American Trust Company.

Events (3)
1. January 1, 1893* Suspension
Cause Details
The articles mention the failure occurred two years prior to 1895 but do not specify the immediate trigger for the 1893 suspension.
Newspaper Excerpt
the Jarvis-Conklin Mortgage Trust Company, which failed two years ago, with liabilities of $12,000,000
Source
newspapers
2. November 11, 1895 Receivership
Newspaper Excerpt
Judge Lacombe... today granted the petition of the receivers for the Jarvis-Conklin Mortgage Trust Company to sell all the assets held by them.
Source
newspapers
3. December 13, 1895 Other
Newspaper Excerpt
The total amount realized was $702,525, and the entire assets were purchased for the North American Trust Company... successor to the Jarvis-Conklin Company.
Source
newspapers

Newspaper Articles (7)
1. November 12, 1895 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, November 12, 1895

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Article Text

Business Failures. Indianapolis, Nov. 11.-Receiver Failey, of the Order of the Iron Hall, today made his report. He says he is chargeable since October 17, 1894, with $1,025,463. and that he has paid out $838,860. The cash balance is $178,219. There are outstanding claims amounting to $154,763, and the receiver says the balance after paying all claims will be $10,000. Manchester, N. H., Nov. 1.-Late Saturday night the state bank commissioners made application to the supreme court for a receiver for the New Hampshire Trust Company for the benefit of its creditors. The liabilities are put at $4,882,632 in the trust department and $272,187 in the savings department. The company holds mortgages and liens on 1,000 parcels of land in the two Dakotas and Minnesota, on which it cannot now realize, and also owns a large amount of valuable real estate in this state and in Maine. On one block in this city it earns 3 net income of $33,000 a year. The last published statement of its assets put them at $402,526. President H. D. Upton, in speaking of the matter, said: "The bank commissioners examined into the condition of the company during the past week, and we had no reason to believe they would act as they did. The only notice we received that a petition was to be filed was after it had been done. I think they were extremely discourteous, and I resent their methods. A meeting of the directors is called for Tuesday, at which time some action will he taken on the application for a receivership. We are not disposed to fight the proceedings If It does not seem best. As It is now. I am strongly in favor of doing so. The commissioners seem to know it all. Their pisition, as I understand it. is that the company cannot get on its feet again. and that its affairs should be wound up." No detailed statement of the condition of the company is obtainable. New York, Nov. 11.-Judge Lacombe, in the United States circuit court, today granted the petition of the receivers for the Jarvis-Conklin Mortgage Trust Company to sell all the assets held by them. The amount of assets. exclusive of cash, is, acording to the books, $3,798,030, but the receivers say this is a largely prospective value. The receivers also hold much real estate in the Western and Southern states, representing an expenditure of $1,900,000. The sale will take place on December 11.

2. November 12, 1895 The Herald Los Angeles, CA
Article from The Herald, November 12, 1895

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Article Text

Receivers Take Charge NEW YORK, Nov. 11.-Judge Lacombe, in the United States circuit court today granted the petition of the receivers of the Jarvis-Conklin Mortgage Trust Co., to sell all the securities held by them. The assets exclusive of cash, according to the books is $33,793,030, but the receivers say this is largely prospective values. The receivers also nold real estate in the western and southern states, representing an expenditure of $1,900,000. The sale will take place on December 11th.

3. December 13, 1895 The Houston Daily Post Houston, TX
Article from The Houston Daily Post, December 13, 1895

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Article Text

NEW YORK-Roland C. Conklin and Joseph C. Willett, receivers of the JarvisConklin Mortgage Trust company. will today sell at auction all the assets of the Jarvis-Conklin Mortgage Trust company for the benefit of creditors, many of whom live in the Trans-Mississippi region.

4. December 13, 1895 Pine Bluff Daily Graphic Pine Bluff, AR
Article from Pine Bluff Daily Graphic, December 13, 1895

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Article Text

ASSETS TO BE SOLD In Accordance With An Order of the United States Circuit Court, NEW YORK, Dec. 13.-In accordance with the order granted by the United States Circuit Court, the assets held by the receivers of the Jarvis-Conklin Mortgage Trust Company are up for sale today. The amount of assets, exclusive of cash, is in the neighborhood of $3,800,000, of which $1,900,000 is represented by real estate holdings in the Southern and Western States.

5. December 14, 1895 New-York Tribune New York, NY
Article from New-York Tribune, December 14, 1895

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Article Text

JARVIS-CONKLIN ASSETS SOLD. SMALL RECEIPTS FOR LARGE FACE VALUES-THE NORTH AMERICAN TRUST COMPANY THE PURCHASER. The receivers' sale of the assets of the Jarvis-Conklin Mortgage Trust Company, which failed two years ago, with liabilities of $12,000,000, took place at the Real Estate Exchange in Liberty-st. yesterday. Bills receivable, value $154,000, sold for $85; mortgages, value $418,953 14, for $25,000; stocks and bonds, value $1,270,442 11, for $455,000; book accounts, furniture, fixtures, etc., value $2,045,801 21, for $2,325; real estate interests, value $1,915,360 84, for $220,000, and equities in pledged assets, value $4,848,035, for $115. The total amount realized was $702,525, and the entire assets were purchased for the North American Trust Company, by its president, Samuel M. Jarvis, who was also president of the JarvisConklin Company. He deposited a check for 10 per cent of the purchase price. The receivers, Roland R. Conklin and Joseph C. Willetts, were present at the sale. Mr. Jarvis said that the North American Company would be the successor to the Jarvis-Conklin Company. It was incorporated in 1885 with capital of $250,000, but did not undertake operations until last June, when It made arrangements to take over the assets of the Jarvis-Conklin Company. Ninetythree per cent of the creditors of the Jarvis-Conklin Company accepted the proposition that was made, and 30 per cent of the shareholders paid an as'sessment of 20 per cent on their stock. In addition to the $250,000 of stock the North American Company will issue stock equal to the cost value of the Jarvis-Conklin assets, SO that its total capitalization will be made $1,000,000. The officers of the North American Company besides Mr. Jarvis are E. E. Carley, vice-president, and S. L. Conklin, secretary and treasurer.

6. December 14, 1895 Semi=weekly Graphic Pine Bluff, AR
Article from Semi=weekly Graphic, December 14, 1895

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Article Text

ASSETS TO BE SOLD In Accordance With An Order of the United States Circuit Court, NEW YORK, Dec. 13.-In accordance with the order granted by the United States Circuit Court, the assets held by the receivers of the Jarvis-Conklin Mortgage Trust Company are up for sale today. The amount of assets, exclusive of cash, is in the neighborhood of $3,800,000, of which $1,900,000 is represented by real estate holdings in the Southern and Western States.

7. December 21, 1895 Arizona Weekly Citizen Tucson, AZ
Article from Arizona Weekly Citizen, December 21, 1895

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Article Text

Reed did not appear at the capitol today. It was a: nounce di he remained at his hotel to work on the committees. The impression grows stronger daily that Ding. ley, of Maine, will be chairman of ways and means, instead of Payne, of New York, who ten days ago was supposed to be booked for the leadership of the majority on the floor. For the chairmanship of appropriations committee the contest lies between General Henderson, of Iowa, the present ranking member, and Cannon, of Illinois, who would have been the ranking member had he not failed of election to the 52nd congress. The rivers and harbors chairmanship is supposed to he between Herman, of Oregon, and Hooker, of New Y rk. The chairmanships of the following committees are almost certain: Foreign affaire, Hitt, of Illinois. Judiciary, Stone, of Pennsylvania. Pacific railroads, Powers, of Vermont. Banking and currency, Walker of Mississippi. Interstate commerce, Hep burn, of Iowa. Elections, Daniels, of New York. Naval affaire, Boutelle, of Maine. NEW YORK, D C. 13-In compliance with the order of Judge Locomb, the judicial sale of assets of Jarvis, Cookling Mortgage & Trust Company, took place at the real estate exchange in this city today. Itconsisted of bills receivable; mortgages on property in Missouri, Kansas, Oregon, Arizona and other states west and south. The assets realized $702,525, the purchaser being the North American Trust Company, of which Samuel M. Jarvis, former president of the Jarvie, Conkling Company is president. This sale is practically a reorganization of the old company. FOLSOM, Cal. Dec. 13-The first execution in the state prison at Represea took place at 10 o'clock this morning, in the presence of Warden Chas Aull and about twenty-five others. The murderer who died at the end of a rope was Chas Hane, a Chinaman, who was a notorious highbinder in Sacramento for a number of years, and who was dreaded by all of the celestials. One night in May 31, 1892 Chan Hane murdered Lee Gong, a cigar merchant. The murderer walked calmly to the gallows and said "goodbye all friende," and smiled as the cap was put on. CONSTANTINOPLE. (copyrighted) Dec. 13-There was a disturbance in Stam bould today and it caused the spread of a rumor 80 alarming that Galata and Pera were soon in a state of panic, and serious outbreaks were threatened. This in view of the passage through the Dardanelles of the British gunboat Dryad, and the Italian gunboat Arcbimede, extra guard ships for the British and Italian embassies, formed a basis for the report. The rioting, predicted, by Vildiz Lios courtiers, had actually commenced but happily the trouble was not serious although the Armenians, as usual, are accused of having attempted to bring about an uprising of trouble. The panic however was a striking evidence of nervousness and apprehension which prevails here as 8 result of the long drawn out negotiations between the powers and the Sultan regarding the suppression of outrages in Asiatic Turkey and the admitance of extra guardships into the Bosphorus. PORTO RICG, Dec. 13-Great excitement has been caused here by the dis covery of a plot to overthrow Spanish rule in the island. The governor has cabled to Spain for more troops. The revolutionary party has adopted a flag the design of which is identical with the Cuban flag, but the colors are placed different. Dr. Betances is the leader of the revolutionary party. BUENOS AYRES, Dec. 13-Great excitement has been caused here by the diecovery of rich gold mines near Mendosa a fair average of which runs 35ounces to the ton. Coal and water is in abundance near by. LONDON, Dec. 13-The Prince of ales, who had some grains of powder blown isto the right eye, while shooting on the estates of Sir Edward Lawson at Beaconsfield yesterday, has almost entirely recovered. CHICAGO, Dec. 12-Pitteburg has been selected as the place for holding the national prohibition convention next year. Two ballots were cast by the national committee today at a meeting at the Sherman House. First ballot, Pittoburg 8; Denver 13; Baltimore 11; Cleveland 3; Chicago 1; Boston. Second, Pattiburg 22; Penver 13; Baltimore 2. Chairman Samuel Dickie, of Michigan, called the meeting to order. Nominating speeches were the first order of business, W. F. Tucker spoke in behalf of Baltimore; H. Metca'f for Boston; B. L. Logan for Cleveland; Jno Hipp, 80 attorney of Denver, had been quietly distributing big folders giving pictures of buildings in the Rocky Mountain city, waile the last speaker had the floor. When everybody got through