Seventh National Bank of New York Closes Under Government Oversight
The Seventh National Bank in New York shut its doors at 10:45 AM with Frank Raynor named temporary receiver under Comptroller of the Currency orders. The suspension follows heavy overdrafts and failure to meet Clearing House demands, aided by large overdrafts by Marquand & Co. The bank faced a $900,000 Clearing House claim and a $644,109 Clearing House deficit. Edward R. Thomas became president alongside former chief William H. Kimball as directors and stockholders sought funds to stabilize the institution amid government scrutiny.
MENTIONED IN THIS ARTICLE
Philadelphia Times
New York
Seventh National Bank
Frank Raynor
National Bank
Seventh National
Clearing House
Sam Thomas
Edwin Gould
H. G. Marquand & Co
Marquand & Co
Treasury Department
Edward R. Thomas
William H. Kimball
Samuel Thomas
New York City
Alexander McDonald
Standard O! Company
Crawford Fairbanks
Indiana
Frank H. Ray
Continental Tobacco Company
R. W. Jones
American National Bank
Kansas City
Guy G. Major
American Linseed Company
W. P. Orr
Citizens’ National Bank
Piqua
Ohio
E. Bissell
Thomas M. Boyd
American School Furniture Company
Perry
Heath
John A. Sullivan
City Trust and Safe Deposit Company
Philadelphia
E. R. Thomas
Aews
Wiliam H. Kimball
Mr. Cromwell
Henory Marquand & Co
Broadway
Frank B. Poor
Mr. Poor
Henry G. Marquand
Newport
Yestern
Market Rebounds After Seventh National Bank Failure
New York June 27 The stock market weathered the Seventh National Bank closure with remarkable resilience. Heavy selling from multiple sources cut prices by one to three points, but late-day recoveries largely offset losses, aided by recovered confidence and a strong late rally despite disquieting London and local rumors.
MENTIONED IN THIS ARTICLE
Philadelphia Times
New York
Seventh National Bank
Financial District
Stock Exchange House
London
Local banks unaffected by Seventh National Bank suspension
Philadelphia bankers report no losses from the Seventh National Bank failure as Corn Exchange National Bank and City Trust Company remain shielded by collateral. Local brokers overdraw limits differ from New York practices and no expected local trouble follows the New York bank collapse.
MENTIONED IN THIS ARTICLE
Seventh National Bank of New York
Philadelphia
Pennsylvania Railroad
United States Steel
Seventh National
Corn Exchange National Bank
City Trust Company
James F. Lyndh
Sullivan
City Trust
New York
Lynch
Willis
Ei the
Sage requests large loans to guard against contingencies
Russell Sage stated after banking hours that there is a urgent demand for sizable loans from multiple quarters to back contingencies and strengthen positions. He warned banks and trust companies may have lent on speculative collateral, saying the day’s failure will curb reckless lending and prompt tighter collateral scrutiny. The bank market may pause for readjustment.
MENTIONED IN THIS ARTICLE
Philadelphia Times
New York
Russell Sage
Wanted to Make a Deposit at Banking Door
In New York on June 27 a man identified as C B S Vincent of 162 William Street attempted to enter the Seventh National Bank to deposit funds just after the bank closed and before bank examiner notices. He claimed to have $200 to deposit but was refused entry as the bank had suspended operations.
MENTIONED IN THIS ARTICLE
Philadelphia Times
NEW York
Seventh National Bank
C. 8
S. Vincent
William Street
Seventh National Bank’s Control Change and Planned Nuptials
The Seventh National Bank, started in 1833 and chartered under Perry S. Heath’s syndicate, moved to control by 1899 with William H. Kimball as president. Heath, Fletcher, Kimball, and Josiah Quincy formed the purchase group and New York City’s postal depository status followed. The bank’s president, Mr. Thomas, planned to wed Miss Linda Lee in Louisville, but delayed the ceremony due to bank troubles and arranged the wedding at her aunt’s home in the city.
MENTIONED IN THIS ARTICLE
New York
Seventh National Bank
Perry S. Heath
McKinley
William H. Kimball
McAnerney
Perry Heath
Fletcher
Kimball
Josiah Quincy
Boston
Seventh National
New York City
Thomas
Seventh
Linda Lee
Louisville
Chestnut Street Bank Receiver Announces Extra Depositor Dividend
George H. Earle Jr receiver of Chestnut Street National Bank says an additional 5 percent dividend will be paid within ten days to depositors of the defunct bank. When combined with prior payments, creditors will have received 60 percent of their claims.
MENTIONED IN THIS ARTICLE
George H. Earle, Jr
Chestnut Street National Bank
Tion
Atlantic City Prepares for Sunday Dry Law Enforcement
Supreme Court Justice Charles E Hendrickson orders all saloon and hotel bars in Atlantic City closed on Sundays. Mayor Franklin P Stoy will notify police to enforce the Voorhees law with the order going into effect the coming Sunday. The measure aims to close other New Jersey resorts but may harm business, with fears of speak easies and lost Sunday excursions.
MENTIONED IN THIS ARTICLE
Philadelphia Times
Atlantic City
Supreme Court
Charles E.hendrickson
Franklin P. Stoy
New Jersey
Sea Isle City
Brigantine
Avalon
Cape May
Justice Hendrickson
Stoy
Trenton
Hendrickson
Ingham and Newitt Pardons Examined by Knox
Attorney General Knox completed the pardon review for prisoners Ingham and Newitt and sent the papers to the White House. No official stance was announced, but authorities expect no immediate leniency and that they will serve full terms. Unofficial sentiment favors unfavorable action and quick presidential decision is not anticipated.
MENTIONED IN THIS ARTICLE
Philadelphia Times
Washington
Knox
Ingham
Newitt
White House
Ingham and Newitt
Flood Shatters Pocahontas Tracks No Loss Reported
Roanoke dispatched reporters note no fatalities from the Pocahontas flood. The main damage is to railroad tracks with 8,000 laborers repairing washouts toward Vivian. Relief supplies reach Elkhorn as Bluefields officials expect traffic to resume Saturday night. Destitute families relocate from the area.
MENTIONED IN THIS ARTICLE
Roanoke
Pocahontas
Vivian
Elkhorn
Bluefields
Most Valuable Painting Sold at Willis Auction in London
The season's top offering, Hopper's three-quarter length portrait of Lady Louisa Manners later Countess of Dysart, sold at Willis' auction rooms. Duveen purchased the work for 14 750 guineas, about 77 438 dollars, setting a high price for oil paintings this season.
MENTIONED IN THIS ARTICLE
Cablegram
Philadelphia Times
London
Willis
Hoppner
Lady Louisa Manners
Countess of Dysart
Duveen
Direct Legislation League Opens First Meeting in Detroit
The Direct Legislation National League held its first meeting at the Hotel Cadillac in Detroit on June 27. Officers elected: President Elfweed Pomeroy, Secretary George H. Strobeil, Treasurer George J. Robinson. The group plans to send a representative to insular possessions as a Constitution is adopted to push direct legislation.
MENTIONED IN THIS ARTICLE
Detroit
Direct Legislation
National League
Cadillac
Elfweed Pomeroy
New Y
George H. Strobeil
Ween
George J. Robinson
Alpena
United States
Fatally Burned by Explosion in South Mildred Home
Sixty nine year old Mrs Sarah Cooper of South Mildred street was fatally burned when a lamp exploded at 11 last night while she was alone in the second story. Rescued by A H Spenard of 725 McKean street who dragged her to the street while badly burned himself. fire department responded but she did not survive.
MENTIONED IN THIS ARTICLE
Sarah Cooper
South Mildred Street
A. H. Spenard
McKean Street
Fanna
Dapertipens
Times Teachers in Buffalo Special Car Attracts Attention
Philadelphia Times teachers and students on the Pan-American Exposition tour reached Buffalo at eight. The group of about sixty traveled via Harrisburg Sunbury and Williamsport, dined at Park Hotel, and were hosted by Hotel Columbia upon arrival. Plans include Niagara Falls lake ride and more, aiming to boost interest in The Times second free tour in August.
MENTIONED IN THIS ARTICLE
Philadelphia Times
Buffalo
Philadelphia
Harrisburg
Sunbery
Williamsport
Park Hotel
Columbia
Exposition Grounds
Niagara Falls
Stover Mystery Remains Unclear in Philadelphia Yard Killing
Coroner Dugan investigates the April 20 fatal shooting of George F. Stover, 47, at 2610 West Dauphin Street. The inquest returns an open verdict to allow further evidence. Witnesses describe Stover as jovial and not quarrelsome, with family and neighbors corroborating.
MENTIONED IN THIS ARTICLE
Dugan
George F. Stover
West
Dauphin Street
Strangery
Stover
Walter Strong
Thomas A. Morton
Strong
Morton
Dr. Strong
Charles Grimes
Anna Stover
Land fraud indictments target Missoula land locaters
United States grand jury in Helena has returned 102 indictments mainly against land locaters in Missoula district. They allegedly perjured claims of long term use while transferring lands soon after title. Lands later sold to R. M. Cobban who moved them to Senator W. A. Clark. Indictments include teachers ranchers and others amid government action against Clark.
MENTIONED IN THIS ARTICLE
Helena
Mont
United States Grand Jury
Missoula
R. M. Cobban
W. A. Clark
Clark
Three Workers Injured in Phoenix Iron Works Accidents
In Phoenixville on June 27 Stanislaus Ragardo was torn apart by a crane and died soon after. John Roddo suffered severe burns when a red hot bloom clung to him as he was removed. Ignatz Masharitz lost a foot and broke a leg in rapid sequence. all three accidents occurred within minutes at the Phoenix Iron Works.
MENTIONED IN THIS ARTICLE
Philadelphia Times
Phoenixville
Stanislaus Ragardo
Phoenix Iron Works
John Roddo
Ignatz Masharitz
Commencement Exercises at Institute for Colored Youths Held
The forty sixth annual commencement of the Institute for Colored Youths occurred yesterday at Association Hall in Philadelphia with Abram Jones reading the valedictory. The report notes multiple incidents including a jail inmates case, a hearing in progress, and a local burglary affecting Lizzie Kurtz and Edward Graff.
MENTIONED IN THIS ARTICLE
Institute For Colored Youths
Association Hall
Fifteenth and
Chestnut Streets
Abram Jones
Charles McKane
Harry Dunleavy
Iar
Esterday
Medico-Chirurgical Hospital Criticized Over State Aid
An editorial denounces Pennsylvania State funding for the Medico-Chirurgical Hospital, arguing it profits from public money while other city hospitals care for more free patients without aid. It notes 190000 in two years supports 903 free patients, compares free-patient rates with Pennsylvania Hospital Episcopal Hospital and German Hospital, and questions hospital governance and influence.
MENTIONED IN THIS ARTICLE
Philadelphia
Pennsylvania Hospital
Episcopal Hospital
German Hospital
Medico-Chirurgical Hospital
Medico-Chirurgical College
Philadelphia College of Destry
William E. Garretson
D. Hayes Agnew
John V. Bhoemaker
Stone
Walnut Street
St. David's
Shoemaker
Medico-Chi Hospital
Medico-Chi
Harrisburg
Hospital
Edward M. Paxton
Philadelphia and Reading Railway Company
Pennsylvania
Abraham L. Bettler
The
Common Pleas Court of Philadelphia
James A. Logan
Pennsylvania Railroad Company
John ©. Grady
Pemberton S. Hutchinson
Philadelphia Saving Fund Society
Joseph L. Caven
Common Council
Real Estate Title Company
Theodore L. Voorhees
W. Howard Pancoast
William H. Pancoast
Henry D. Baxson
Edward M. Paxson
David Milne
George A. Huber
William King
D. T. Pratt
Treasury of Pennsylvania
Never Refused a Patient at Garretson Hospital
Superintendent Shoe maker defends Garretson Hospital noting no patient refusal while others deny admission outside district. The hospital began as Hospital for Aurala at Tenth and Arch, joined Medico Chirurgical then moved to Cherry and Seventeenth. In 1897 Garretson Hospital formed by Hamilton Real Estate Company at Eighteenth and Buttonwood.
MENTIONED IN THIS ARTICLE
Garretson Hospital
Shoemaker
Aurala
Tenth and
Arch Streets
Philadelphia Dental College
Medico-Chirurgical Hospital
Dental Coll
Seventeenth
Cherry Streets
Medico-Chi Hospital
Medico-Chi
H. Guilford
Constable Seizes Stove From Church Home
In Pottstown on June 27 a constable with a search warrant seized a stove from Rev. W H Jenkins former pastor of Bethel A M E Church while his wife cooked supper. The case notes a disputed removal of the church stove and the constable’s lawful seizure.
MENTIONED IN THIS ARTICLE
Jenkins
Weather Outlook For Friday And Saturday In The Northeast
Eastern Pennsylvania New Jersey and Delaware forecast partly cloudy with continued high temperatures. Friday and Saturday bring fair weather and light southerly or variable winds, with mostly sunny conditions and continued heat. Temperature readings and rainfall totals are noted by the Weather Bureau in Philadelphia for June 27 1901.
MENTIONED IN THIS ARTICLE
Pennsylvania
New Jersey
Delaware
York
Transatlantic Arrivals Report From Liverpool and New York
Arrivals list ships with routes from Liverpool to New York and Philadelphia and from New York to Naples. Ships include Vceap Liners Germanie and Noordland and Laha Bremeo tracing patterns between the United States and Europe.
MENTIONED IN THIS ARTICLE
Germanie
New York
Liverpool
Noordland
Philadelphia
Laha—Bremeo
Trave—Naples
Rothermel Renominated at Philadelphia Civic Rally
A massive Philadelphia Academy of Music audience backs Peter F. Rothermel Jr. for district attorney. Speeches by notable figures including Ex-District Attorney Graham and Colonel A. K. McClure prompt formation of an executive committee to run the renomination campaign. The crowd’s patriotic turnout includes a 50-piece band and broad attendance by both sexes.
MENTIONED IN THIS ARTICLE
Academy of Music
Philadelphia
Peter F. Rothermer, Jr
Rothermen
Edward Shippen
Ernest L. Tustin
Commonwealth
William & Stenger
Henry ©. McCook
A. K. McClure
George 8. Graham
Frank Leake
D. D. Albertson
D. D
Graham
McClure
Rothermel
McCook
P. F. Rothermel, Jr
Also Mentioned on This Page
NEW York Bank
Sage
Chestnut Street National Bank Reeceiver
Jersey
West Virginia
Louisa Manners
Insular
TIMES
Governoment
Senator Clark
Howard J. Bryce
John
Columbia Avenue
Elisha Thompson
Twenty-third
Feabtea foSarcheel
Gotesley Sy
Forth Third
Market Streets
Pson
Presbyterian Hospital
Lizzie Kurtz
North
Twenty-sixth Street
Edward Graff
Fifth
Arch
Michael Cotter
Thirteenth
Pine Streets
F. T. Walton
Fayette Hotel
Walton
Elsenbrown
Paul Lazarus
Thomas Potter
William Potter
Italy
Lukens
Appropriations Committee
Cherry Street
College
Medico-Chirurgical College and Hospital
W. F. Waugh
Chicago
George E. Stubbs
Charles L. Mitchell
Ninth and Race Streets
John Gerhard
William S. Stewart
Ernest Goodman
Oliver
Nagle
Third National Bank
Market Street
Penn Square
Jefferson
John V. Shoemaker
Frankiin County
Ernest la Place
William M. Rodman
L. Webster Fox
Constable
United States Weather Bureau
Ancy
Vel Reis Weath
Cleer New York Cit
S.W
Quant City
Atlanta
Gaoness
Mieh
St. Pa Mion
Clondy . Col &.E
Cleariter
Vceap
MR. Smith
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