National Bank (New York, NY)

Episode Information

Episode UID
7807228091294
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
780722809 hash
Start Date
October 1, 1907*
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
dc44db991c6e8eee

Response Measures

None

Description

Articles link Charles W. Morse's legal troubles to the failure/suspension of the National Bank of New York; explicit run activity is not clearly described in these clippings.

Events (3)
1. October 1, 1907* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Failure tied to Charles W. Morse's fraudulent loans and impaired securities leading to suspension/closure of the bank
Newspaper Excerpt
the banks which closed their doors in the recent financial troubles in New York City
Source
newspapers
2. November 17, 1907 Receivership
Newspaper Excerpt
plans practically perfected ... when the temporary receivership orders are returnable. ... The First National Bank of Brooklyn is also under suspension. All the employes of the Williamsburg Trust Company were laid off ... taken by the depositors to mean that the court was soon to take charge of the institution.
Source
newspapers
3. February 16, 1908 Other
Newspaper Excerpt
attachments of Charles W. Morse ... receiver in his suit for the National Bank ... result returns $243,000 ... indebtedness on the bank ... secured collateral ... Morse owes ... $572,500
Source
newspapers

Newspaper Articles (6)
1. November 17, 1907 New-York Tribune New York, NY
Article from New-York Tribune, November 17, 1907

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Article Text

the two institutions showed a surplus of upward of $800,000 over the amount owing to depositors. The statement they issued told also of plans practically perfected for putting $750,000 in cash at the command of the allied institutions and for the presentation of a plan by which the depositors would agree to accept cash on account and the balance in the form of certificates of deposit bearing interest. The counsel for the two institutions regard the plan as feasible, and under it they could successfully resume business, it is said. They hope to prove this to the court on November 30, when the temporary receivership orders are returnable. The plan is to pay 10 per cent on demand, 20 per cent in three months, 20 per cent in six months and the remaining 50 per cent in twelve months. Clark Williams went to New Haven yesterday to see the Yale-Princeton football game, and it was said at his home that he would not return to the city until this afternoon. Announcement was made yesterday at the State Treasurer's office in Albany that the state had received $235,000 and interest from the surety companies which were on the bonds of four of the banks which closed their doors in the recent financial troubles in New York City. The banks and amount of money on deposit are: Borough Bank of Brooklyn, $125,000; Williamsburg Trust Company of Brooklyn, $75,000; National Bank of Brooklyn, $25,000, and the United States Exchange Bank of New York, $10,000. John G. Jenkins, jr., the ex-president of the Jenkins Trust Company, is a son of John G. Jenkins, president of the First National Bank of Brooklyn, and a brother of Frank Jenkins, expresident of the Williamsburg Trust Company. The First National Bank of Brooklyn is also under suspension. All the employes of the Williamsburg Trust Company were laid off yesterday and the only person at the company's offices was a special policeman. This was taken by the depositors to mean that the court was soon to take charge of the institution.

2. February 16, 1908 New-York Tribune New York, NY
Article from New-York Tribune, February 16, 1908

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Article Text

HERE MORSE TO-DAY. ARREST AT QUARANTINE. District Banker Attorney's Men Will Take Into Custody. this Charles morning Detective W. as Morse soon will as the be placed under arrest charge antine. Lieutenant Etruria is in torney Jerome's of the detectives detailed Beery. who Guar- is in Quarantine Mr. with office. another will board to the District usual inconveniences Morse will not have detective. steamer At- at at of arrest, to undergo all him. ing. once in West to the 82d home street, of Justice but Victor will J. be Dowl- taken the Mr. Morse's who will Monday, for sued The bondsmen. last special and night. the grand warrant counsel jury have for indicted his already accept Morse arranged bail last for Etruria at The detectives arrest was is. Juster who by Hudson. Assistant Quarantine The District detectives on board will the be will accompanied revenue meet the tice Dowling. will also go with them Attorney to the Isidore home of Kresel, Commissioner the that federal warrants Bingham also intimated had yesterday arrest said that of Mr. Morse, been issued "Some of the none had been issued Mr. but warrants as well as the Commissioner act ties, had "have men," the although authori- Stimson as said, yet. for may get we 80 that in of course case Morse. the our federal warrants officials have federal been do not issued More MORE light LIGHT ON MORSE transactions has been thrown DEALS attachments of Charles W. Morse on as the a and trust companies on all the New receiver in his suit for the to National Bank by Charles of A. banks the notes collect served $243,000 North America, result business Hanna. York of suspended. of Mr. Morse held by the and interest $2,show to date The a total returns indebtedness on the bank attachments when on it $32,500 of The Mr. Morse to banks and individuals on the of part collateral is of several a decidedly parcels mixed pledged description, to secure these loans blocks of of Fifth avenue and includes United bonds, stocks Consolidated of the Steamship real estate, large Arizona Copper Smelting Company Butterick and Company, Company the shares of stock in Company and the Consolidated the Mercantile New Amsterdam of North America, tional Bank the National the National Bank, National Bank thousands Bank, of It is the opinion and of the Fourteenth the Garfield equity in any of market prices there is receiver that exception at the present counsel for the Street Bank Na- no It of the real the pledged estate. collateral, little with or wind, wind, develops of Baltimore. that Mr. a Morse owes John E. the was secured $572,500. This brother loan of Edward J. BerConsolidated principally by prior a block to last of `October Bergave the beginning Steamship of the Company bonds. $1,900,000 house Mr. at Berwing No. a mortgage panic, however, for Mr. Morse At stood that Mr. 728 Fifth avenue. $350,000 on his was from Mr. Morse received It is underThere is a Berwind, no mortgage more money prior lien of security. given merely $150,000 as additional but on the that house. the The detailed DETAILS OF LOANS ments outside 000 from showed banks, that reports trust Mr. returned Morse borrowed on the attachand trust of New York companies and $822,000 and individuals $1,138,not stood that companies the last in this city. It from is banks York Thomas only institutions chain. from but banks from named in numerous leans the Morse-Heinze- were secured underThe as well. other as collateral following for securities the were found to New a outside number of of banks payment trust of indebtedness be held stock. 000 shares New York City, companies aggregating and $1,138,- others to stock New Garficia Amsterdam National Bank mertDeed to Nos 198. 720 and stock. avenue, Fifth cages aggregating 726 $650,000 722 Fifth Company avenue. subject stock to $120,000. De The $20,000 149 East 57th street, subject subject to to mortgage mortgage of John Medged E following Berwind: to secure property a claim of was $572,500 found to be of payment bonds, Company $1,300,000 $135,000 New $87,000 Consolidate and Cuba Mail Steamship held Company by Hudson Steamship Lines bonds. 728 for No. on Fifth avenue Mortgage $350,000 The following securities for notes in the certain banks. aggregating about were $822,000. held as collateral City of New York: trust companies and others owned by $ Butterick stock stock Company 185,000 Arizona Smelting Block 75 stock. stock stock. stock. Bank National stock of America Wall HAVE Street Bank Company 500 shares Fourteenth NO Paper stock Company Dong stock. The MORSE no secuNew York following City reported banks and that SECURITIES trust they companies held of

3. February 18, 1908 New-York Tribune New York, NY
Article from New-York Tribune, February 18, 1908

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Article Text

C. W. MORSE IN COURT. PERJURY CHARGE ADDED. Creditors Start Move to Have Him Declared Bankrupt. now Charles W. Morse, once the "Ice king." known as the "eliminated banker." was in. but dicted for perjury yesterday, after he had pleaded grand not guilty to the two indictments while larceny which were returned against for he was on the ocean. A him was started by several of his largest movement also to have him declared an involuntary bankrupt. creditors The although no application was made to the court. down indictment charging perjury was late in the afternoon by the same handed bills. grand jury that voted the two grand larceny special Justice Mr. Morse, who had already appeared before Dowling in the criminal *branch of grand Supreme Court and pleaded not guilty the larceny charges, was not summoned to the to court or even arested on a bench back Word when the perjury indictment was returned. warrant court was sent to his counsel to produce him in this before Justice Dowling at 10:30 o'clock morning to plead to the new indictment. and As the prisoner was already under $20,000 had signified through his counsel his entire ball ball willingness to appear when wanted. no further was demanded. PERJURY OVER $50,000 LOAN. The act of perjury on which Mr. Morse indicted the was committed. it was alleged, before was indictment. same special grand jury that voted Though the text of the bill the this made public last night. it was understood was not in charge is based on Mr. Morse's that regard to a loan of $50,000 which testimony Thomas North obtained from the National Edward R. was America in September, when Mr. Bank of its vice-president and Alfred H. Curtis wa Morse Mr. president. Curiously enough, the bank is ment Thomas at the present time for suing out of the note and interest, and non-payport. a lien against Mr. Thomas's place recently took in New The special grand jury came across the in its question, it is understood. in connection note investigation into the affairs of the with Bank of North America and the Provident National ings Life Assurance Society, in which Sav- the Thomases were largely interested. before Messrs. Morse, Thomas and Curtis were called developed, the jury several times and a discrepancy under it seems, between the stories oath by the three men. Mr. Morse told testified that Mr. Thomas obtained the first ever from Mr. Curtis and that he knew nothing loan he had of the transaction. Mr. Curtis said what- that made the loan to Mr. Thomas Morse's recommendation. Mr. Morse, It is on said, Mr. nothing was recalled and swore again that he knew is said, about the loan. Then Mr. Thomas. was called and exhibited a letter it Mr. Morse is alleged to have written which Thomas. mending that the money be loaned to recom- Mr. again Later, it is understood. Mr. Morse appeared stated before the jury at his own request. that he desired to correct his former and timony. This he did. it is said. in such testwo ion that It tallied with the stories of the a fashmay corrected witnesses. The law. however, is other be testimony before a grand such that taken as a basis for a perjury charge. jury BUSIEST DAY OF LIFE. Mr. Morse probably experienced one of busiest days of his usually strenuous the indictments addition to pleading to the two grand life. In and receiving information larceny Marshal perjury bill, he was served by United of the week Henkel with papers in the suit filed States Court against him in the United States last which by the Continental Finance Circuit A. he is made a co-defendant with Company. in North Hanna, the receiver of the National Charles cashier. America, Mr. and E. B. Wire, the Bank bank's of No. 728 Fifth Morse was served at his home, strain avenue, The suit seeks at ing a the bank and the receiver from to renote for $60,000 in connection collectpurchase American of one thousand shares of stock with of the the Morse Ice Sureties Company, sold Mr. to the Continental Finance by Mr. Building. Morse, as he left the Criminal Company. with was also served by a Courts tinger summonses in two civil suits. deputy sheriff action and Moses Ottinger are plaintiffs Marx OtBennett, and the defendants named are in one and executors shenen, as Oren Dennett and Katharine John : T. Gel- R. will and testament of W. executrix H. Gelshenen, of the last chester ceased; Haynes David W. Hunt and "James" Man- debe fictitious). Charles (the name James being said to Morse, James w Morse, Harry F James W. McCutcheon. Wesley ecutors of Barney the and Ashbel H. Barney, M. as ex. Oler. W. Poor, Edward will of Charles T. Barney: Ruel Thomas H. Robb, Frank K Joseph W. Sturgis, John D. Schoonmaker Sturgis, street. Scott. Nathan Ottinger. No. and is dated attorney February for 11. the plaintiffs. The summons 60 Wall The brought summons by in the other suit is in against Charles Bayard L. Peck and other an action office named Ellison, and W. was Morse filed and in a defendant plaintiff. by Burke & the Sheriff's Pine street, Fay, attorneys. of No. Ice Trust derstood to be on February in connection 7. Both with suits sales are of un- 44 stock by Mr. Morse STATEMENT FOR MORSE Philip J. Britt. counsel for Mr. Morse, grand larceny cussing his client's line of defence in dis. "I indictments. said last night: in the ing a presume note the transaction was that and discounted given by Mr. O'Brien to Mr. concerncheck and by him. I should Morse mentioned the indorsement upon it presume the I understand in which are charging larceny upon false the indictment for given these in return by the Mercantile pretences. were discounted notes. I may National Bank was nothing in any agreement say that there O'Brien or the firm of between Judge in Platt and Mr. Morse which O'Brien, Boardman & right vented to him use from this note." using or deprived any him wise of pre- the new Mr. indictment Britt declined to discuss the finding but said for perjury against of a client. would that he expected that he, Mr Morse. the appear at the Criminal with his The Supreme Court this morning to Branch of after federal grand jury met yesterday. plead to it p. m. a session lasting from 10:40 a. and adjourned without handing m. to 1:10 dictments. The only witness down any injury, other than the federal officials, before the was grand Miss

4. March 26, 1908 The Spanish Fork Press Spanish Fork, UT
Article from The Spanish Fork Press, March 26, 1908

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NEWS SUMMARI Frederic Schoff of Philadelphia of the Mrs. been re-elected president has National Mothers' congress. amateur boxing tournament 19 In Philadelphia. an Willie Robinson, with years, in was killed while boxing Charles Wolf, same age. the senate has accepted bill inThe ot the legislative amendment the salaries of surveyors creasing general from $2,000 to $3,000. steamer Pomona, which Eureka, plys The San Francisco and Ross on between wrecked near Fort were was March 17. All her passengers saved. men were killed and four in- up Three fatally, by the blowing of the jured, two of ten wheel houses at of United one States Powder company Coalmont, Ind. morAn unknown negro shot and and Rufus wounded Baxter are relatally at Burns, Miss. Both Mc Burns tives of United States Senator Laurin of Mississippi. B. R. Tillman of South home Carolina, Senator is dangerously ill at with his a reof the at Trenton, disease S. C., suffering which affected his health turn three years ago. Assistant Secretary of the Treasury was Edwards, whose resignation accepted the J. P. last week, has Amsterdam accepted of the New which receivership National bank of New York, recently suspended. of Mabel Woodham two-year-old Neelley, Mrs. Mich., whose from Kalamazoo, Walter died last December by son while under treatment week repneumonia mental healers, was last manarrested two and charged with of slaughter. R. Day, secretary of state re Walter under the Republican has Kentucky Governor Taylor in 1900, in gime sentenced of to serve one the year name been penitentiary for forging check the of his uncle, Floyd Day, to a for $5,000. is bubonic plague in Ecuador condition increasing The and the sanitary towns is causGuayaquil and other are fifty-one of alarm. There Lazaretto, ing great the plague in the and besides cases of several cases of smallpox yellow fever. result of an unsuccessful Judge at As the to assassinate Federal of Chitempt of the northern district at him Lira, by firing two shots plotters huahua door, four alleged charge through held a in jail in Juarez on a of are conspiracy to murder. fired body Frank Kito, a Japanese of cook, Mrs. Liz. five bullets of into New the York City, then who had zie Hulse spurned his love. and died. Kito Mrs. drank carbolic acid Both had been Hulse will recover. toemployed in a restaurant. of The fortifications bill, $8,210,611 carrying instead a tal apropriation $38,443,945 asked for by the to of the department, has been reported appropriawar the house committee Smith on of the subtions by Chairman the committee on fortifications. pressure exerted which by is enUnder government, company's titled Transvaal to 60 per cent of Diamond the Mining output, the Premier refinitely refused diamond to recompany agreement has with the its own new syndicate, its and will market output. men were killed and an five excur- per& Two seriously injured International when a sons train on the bearing sion Northern railway Kansas Great of homeseekers from to Las Palparty en route Pearsall, tenas, and Oklahoma Mexico, was wrecked at Texas. arrest of Fanny Ritchie Texas, and the In the McCuen at Denson murder in Harry of a wholesale involving mystery City last August, cleared Oklahoma death of five persons, is McCuen the woman declares be committed up. The the murders, robbery ing the motive. little government of the has apThe republic of Liberia her terAfrican pealed to America to protect France. The state ritorial department industry against has is now been on informed its way to that a delegation to Washington from Monrovia appeal. a personal in make suggestion has been made greeted The senate, and the Australian that the federal govwith enthusiasm, President Roosevelt to the ernment to Australia invite as the guest visit of next come commonwealth in Australian during waters the of the winter American battleship fleet. badly do the farmers require of Lancas- help ter So county, Pennsylvania, that the Farmers' the on the has farms issued an appeal and to towns unemployed league of the cities work, and an appeal has been to go to the country sent for to the bureau labor and immigration. has ere of decided The supreme that city court ordinances lounging of Missouri or prohibit- loafing ing persons from inconstitutional.

5. November 12, 1908 Hot Springs Post Hot Springs, Manley Hot Springs, AK
Article from Hot Springs Post, November 12, 1908

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NEWS OF THE WEEK The prosecution of the nightriders who, according to the con fession of Red Burton were implicated in the murder of Capt. Rankin several weeks ago, is about to be commenced. There is much excitement over the coming trial, and threats are freely made that anyone testifying against the accused do so at the risk of their lives. Gov. Patterson has been called as a witness for the state, and it has been said that his life will be forfeited in case he gives damaging testimony. The spherical balloon purchased from Baldwin by the United States Signal Corps was started from Washington last Saturday on a trial trip which was in every way satisfactory to the officers in charge of the machine. It is now claimed that the Republicans carried Missouri by 4200 plurality. This state was claimed up to the last by the Democrats, and the late developments have proven a great surprise. In the previous election Roosevelt carried the state by over 25,000. In Maryland the result is still in doubt, but it appears that Bryan will have possibly six or seven, and Taft one or two electoral votes. Bryan's plurality in Nebraska was very much decreased when the the complete returns came in, and it is now placed at not to exceed 4500. The victory in the state election of Nebraska is claimed by both parties, and will not be definitely decided until the official count is made. Several hundred pupils were turned away from the public schools in Seattle this week on account of their parents' refusal to allow their vaccination. This action has been found necessary by the board of health as it is the only means by which the parents of the children can be forced to comply with the regulations regarding vaccination. There is at present considerable uneasiness felt in that city over several cases of smallpox that have appeared and the city authorities are determined to take prompt and drastic action now, and avoid an epidemic of the disease. It is thought that most of the parents will have given their consent to the vaccination before the week is passed. Dr. Jochelson, a Russian millionaire, is now enroute from New York to Alaska where he will study the natives of the Aluetian islands with the view of determining, if possible, the relations between the Eskimos and Indians. Nat Goodwin was married last Monday afternoon to Edna Goodrich at New York. It is only about a month since Goodwin was divorced from Maxine Elliot, but his marriage to Miss Goodrich comes as no surprise to the friends of the contracting parties. It is believed that Governor-elect Cosgrove of Washington is now on his deathbed at Tacoma. He is suffering from a severe attack of Bright's disease and his recovery is despaired of by his relatives and immediate friends. Acting on the supposition that Cosgrove is fatally ill, Governor Mead is already planning to retain the office. The steamer Empress of India has brought the news to Victoria of the shooting of nine Japanese of the crews of the sealer Boso Maru and the schooner Toyo by the Russian guards at the Copper island rookeries. The Japanese were engaged in killing seals when they were surprised by the guards. They paid no heed to the command of the Russian officers to surrender, and attempted to escape to their vessels when the Russians fired upon them, killing nine. It is not thought that the Japanese government will take any action as the crews of the two vessels were caught in the act and can offer no valid defense. It is now thought that there is no doubt as to the recovery of Edward M. Morgan, postmaster of New York city, who was shot early this week by E. B. Mackey. Mackey was a stenographer and was evidently deranged as he fancied he was suffering from a wrong did him by the postmaster. He stationed himself near the entrance of Morgan's home and as the latter stepped through the doorway he fired. Morgan instantly dropped, and Mackey, believing he had killed his victim, turned the revolver upon himself, pulled the trigger, and killed himself instantly. The stock of the American Tobacco Co. broke 32 points Monday as a result of the federal court decision against the trust. The closing price on Saturday was 375, but during the first hour on Monday it went to 343, where it remained. Other stocks were also affected to a slight degree, but all rallied in a very short time. Banker Morse, who was president of the National bank of New York, the failure of which precipitated the panic of last year, was sentenced to prison this week for fraudulent transactions, and is now serving his term. Morse is a model prisoner, and although a rich man, he asks no special privileges. He has a telephone in his cell and conducts all his business from that place, which he uses as his office.

6. June 14, 1912 The Barre Daily Times Barre, VT
Article from The Barre Daily Times, June 14, 1912

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Cortelyou Tells of Checking the Panic in 1907 $25,000,000 WERE DEPOSITED In New York Banks-Unable to Remember Names of Banks-Mabon Admits Centering Securities for Stock Exchange. New York, June 14.-George B. Cortelyou, secretary of the treasury under President Roosevelt, was called to the stand yesterday at the hearing of the public committee investigating the socalled money trust, to tell the manner in which the government deposited $25,000,000 in the New York National bank to help stem the panic of 1907. The witness said he came here on the night of October 22, 1907, and had a conference with J. P. Morgan, James Stillman, A. Barter Hepburn, George F. Baker, George W. Perkins, Frank A. Vanderlip and other financiers. "At this conference," he explained, "I stated that I would not deposit a dollar except for the relief of the country generally and the commercial community generally." Mr. Cortelyou conceded that Mr. Morgan was "captain general" of the situation and that everybody looked to him for guidance.