Dover National Bank (Dover, NH)

Episode Information

Episode Type
Suspension โ†’ Closure
Start Date
January 14, 1895
Location
Dover, New Hampshire (43.198, -70.874)
Bank Type
national
Charter Number
1043

Metadata

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1895-02-07
Date receivership terminated
1902-06-30
OCC cause of failure
Fraud
Share of assets assessed as good
59.7%
Share of assets assessed as doubtful
34.7%
Share of assets assessed as worthless
5.6%

Notes

Cashier Isaac F. Abbott's large defalcation and subsequent suicide are repeatedly reported.

Events (4)

1. April 22, 1865 Chartered
Source
historical_nic
2. January 14, 1895 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Discovery of a large defalcation by cashier Isaac F. Abbott (reported $60,000โ€“$90,000); Abbott admitted shortage and later committed suicide.
Newspaper Excerpt
Notice was posted on the bank door to-day that the institution had suspended and was in care of a bank examiner.
Source
newspapers
3. February 7, 1895 Receivership
Newspaper Excerpt
The controller of the currency has appointed ... Albert G. Whittemore receiver of the Dover National Bank at Dover, N. H.
Source
newspapers
4. February 7, 1895 Receivership
Source
historical_nic

Newspaper Articles (25)

Article from Santa Fe Daily New Mexican, January 14, 1895

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Bank Failure in New Hampshire. Dover, N. H., Jan. 12.-Bank Examiner Poor is examining the books of the Dover National bank. It is stated that there is a defalcation of about $60,000 or $70,000. Notice was posted on the bank door to-day that the institution had suspended and was in care of a bank examiner. Isaac F. Abbott is cashier.


Article from Waterbury Evening Democrat, January 14, 1895

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Bank Suspends Payment. DOVER, N. H., Jan 14 -The Dover National bank this morning suspended payment. J. F. Abbott. cashier, has admitted that he has robbed the bank of a large amount.


Article from San Antonio Daily Light, January 15, 1895

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A Bank Shortage. DOVER, N. H., Jan. 15.-Defalcations of $70,000 have been discovered in the Dover National bank, and it is suspended. Cashier Isaac F. Abbott's accounts are badly mixed. He admits a shortage, but will not talk. Abbotti is city treasurer of Dover.


Article from The Seattle Post-Intelligencer, January 15, 1895

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Suicide of is Bank wrecker. Dover, N. H., Jan. 14.-The National bank suspended payment day and Bank Examiner Poor charge. As a result of this en tion he announced that Cashier F. Abbott's accounts were $70,000 Abbott then shot and killed himsed


Article from Birmingham Age-Herald, January 15, 1895

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CASHIER A DEFAULTER. BOSTON, Jan. 14.-A dispatch from Dover, N. H., says: The Dover National bank suspended this morning. The cashier, who is also city treasurer, is protably a delaulter.


Article from The Herald, January 15, 1895

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A DEFALCATION. Dishonesty of a Cashier Wrecks Bank. DOVER, N. H., Jan. 14.-Bank Examiner Poor is examining the books of the Dover National bank. It is said there has been a defalcation of about $60,000 OF $70,000. Notice was posted on the bank door today, saying the institution had suspended and was in the care of the examiner. Issac F. Abbott is cashier. No arrests have been made. Cashier Abbott shot and killed himself this afternoon.


Article from Rock Island Argus, January 15, 1895

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# ABBREVIATED TELEGRAMS. Senator Hill, of New York, has come out in favor of the popular election of senators. A mass meeting of Sca Franciscans passed resolutions denouncing C. P. Huntington as a self confessed biber, and accusing him of other crimes that are penitentiary offenses. Obituary: At Rockford, His, Charles E. Holienbeck At Fletcher, Ind., Mrs. Edgar W. Miles, 24. At Rochester, N. Y., Dr. Stanton J. Hall. At Bement, liis, Duane Knapp, 18. At Decatur, Mich., Judge Jonathan G. Parkhurst. Edward M. Bangs, a Duluth business man, left Duluth for Minneapolis two weeks ago, and was not heard from until Sunday. He could not give his name or residence, although he conversed intelligently on everything but himself. He was recognized and sent home. He did not know his wife, friends, or children. Isaac F. Abbott, cashier of the Dover (N. H.) National bank, felt so badly over a steal he had made of the bank's funds, causing its suspension, that he killed himself. He "took" only $30,000, or thereabouts. Mrs. Ballington Booth, wife of the general of the American Salvation Army, will on Jan. 24 formally open the Rescue Home, one achievement of the army's work at Chicago. The southern movement of cotton industries which has affected Massachusetts, is also felt in New Hampshire. The Jackson and Nashua companies are asking the legislature for the power to increase their capital and build mills anywhere in the United States. The late Lemuel Coffin, of Philadelphia, gave about $150,000 to charities, of which $60,000 was given to the Episcopal Church of the Holy Trinity, Philadelphia. When a child dies in Greenland the natives bury a live dog with it, the dog to be used by the child as a guide to the other world. When questioned with regard to this peculiar superstition they will only answer: "A dog can find his way anywhere." Ex-Governor A. C. Mellette, of South Dakota, and J. T. MeChesney, of New York, who are each on the bond of W. W. Taylor, defaulter, to the sum of $50,000, are at the Great Northern hotel, Chicago, and with them a number of other bondsmen, supposably to confer on what to do about it. Mrs. Annie Childs Whitney, a wealthy and prominent society woman of New York city, and a niece of the late George W. Childs of Philadelphia, has been granted a decree of divorce in the district court at Oklahoma City from Charles W. Whitney, a scion of the celebrated Whitney family of New York.


Article from The Morning Call, January 15, 1895

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Defalcation at a Bank. DOVHR, N. H., Jan. 14.-Bank Examiner Poor is examining the books of the Dover National Bank. It is said there has been a defalcation of about $60,000 or $70,000. Notice was posted on the bank door to-day, saying the institution was suspended and was in the care of the examiner. Isaac F. Abbott is cashier. No arrests have been made.


Article from Watertown Republican, January 16, 1895

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DOVER BANK FAILS. Cashier's Accounts in a New Hampshire Depository Show a Shortage of $90,000. Dover, N. H., Jan. 14.-A notice was posted on the doors of the Dover Nationbank today announcing that the institution had suspended and that, by order of the board of directors, the bank's affairs had been taken in charge by Bank Examiner C. M. Dorr. To an Associated Press reporter Examiner Dorr said that Cashier Isaac F. Abbott's accounts were badly mixed and there was a shortage which might amount to between $60,000 and $90,000. He could not say definitely how much the defalcation would amount to, as the books have not yet been thoroughly examined. Cashier Abbott, who has been under surveillance since Saturday, was interviewed today. Mr. Abbott admitted that his accounts were short. but refused to say how much. He would not say where the money had gone or how long the shortage has existed. United States Marshal Campbell arrived in the city this afternoon and a warrant for Abbott's arrest was at once issued. The defaulter heard that the marshal was coming to arrest him. and, going to his room, he deliberately shot himself through the head. He was dead before the marshal reached the house, and the officer did not enter the residence. It is believed that Abbott left a statement for the bank directors.


Article from The Anaconda Standard, January 16, 1895

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MORE UP 11. Another Bank Cashier Has Gone to the Bad. DOVER, N. H., Jan. 15.-Bank Examiner Poor is examining the books of the Dover National bank. It is said there has been a defalcation of about $60,000 or $70,000. A notice was posted on the bank door today saying the institution had suspended and was in care of the examiner. Isaac F. Abbott is cashier. No arrests have been made. Cashier Abbott's accounts are short from $60,000 to $80,000.


Article from The Guthrie Daily Leader, January 17, 1895

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DEFAULTER AND SUICIDE. A New Hampshire Bank Closed-The Cashier Short About $100,000. DOVER, N. H., Jan. 15.-A notice was posted on the doors of the Dover National bank 'yesterday announcing that the institution had suspended and that by order of the directors the bank's affairs had been taken in charge by Bank Examiner C. M. Dorr. Examiner Dorr said that Cashier Isaac Abbott's accounts were badly mixed and there was a shortage which might amount to between $60,000 and $90,000. He could not say definitely how much it might be, as the books had not yet been thoroughly examined. United States Marshal Campbell arrived in the city late in the afternoon and a warrent for Abbott's arrest was at once issued, The defaulter heard that the marshal was coming to arrest him and going to his room he deliberately shot himself through the head. He was dead before the marsnal reached the house, and the officer did not enter. It is believed that Abbott left a statement for the bank directors,


Article from Vermont Phล“nix, January 18, 1895

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THE NEWS IN BRIEF Another Bank Defalcation. Cashier Abbott of the Dover, N. H., National Bank Shot Himself After He Was Found to be a Defaulter to the Amount of $80,000. The bank defalcation epidemic struck the city of Dover, N. H., Monday. During the morning it was announced that Isaac F. Abbott, cashier of the Dover national bank, was a defaulter in the sum of $80,000. At about 3 o'clock in the afternoon, and before the people had recovered from the astouishment, came the announcement that the cashier had taken his life in his beautiful home on Arch street, by shooting himself through the heal with his revolver. The discovery of the defalcation was made by Bank Examiner Dorr, who began an examination of the bank Friday. He asked Mr. Abbott certain questions which the cashier said he would explain the next morning. When the examiner came again Saturday morning it was found that the safe could not be opened, and Mr. Abbott failed to appear. He was at home, and stated that he would explain all on Monday. The refusal of the cashier to say anything was brought to the attention of the bank officials, and Examiner Dorr at once declared Abbott a defaulter. District Attorney A. A. Branch of Manchester and United States Marshal Campbell were at once telegraphed for to place Abbott under arrest, but they did not arrive until after the cashier's death. It is hinted that Abbott made his first inroad on the bank's money to help out a friend. The first suspicion that Mr. Dorr had of the defalcation was the discovery of a note for $10,000 among the bank's resources, signed "M. Nelson." The name of Mr. Abbott's young housekeeper is Miss Mertie Nelson, and it was her signature, it is alleged, that appeared on the note. Mr. Abbott was also cashier of the Five-cents savings bank of Dover, and was city treasurer. The depositors will lose nothing, but their money is tied up. State Bank Commissioners Lyford and Hatch have taken charge of the savings bank. Mr. Abbott's two sons and his daughter were at home when the fatal shot rang out. Mr. Abbott had been cashier of the bank 20 years, and before that was connected with it in a minor capacity. He lived in a house that cost $30,000, but it was built with his wife's money. He was a member of the Baptist church and was never known to gamble. Later---The Savings Bank Involved. The Five Cents savings bank of Dover is also involved in Cashier Abbott's criminality, and it is thought that the depositors will lose 50 per cent of their money. J. E. Hall has been appointed receiver of the bank. It is supposed that Abbott at first robbed the savings bank and that the embezzlement from the national bank was made to cover up the deficit. The depositors in the savings bank are people employed in mills and they will feel their loss keenly. It is difficult for the bank examiner to find out the exact condition of the two banks, as Abbott destroyed the books containing evidence of his guilt. Nation's Cereal Crops for 1894.


Article from The Kimball Graphic, January 19, 1895

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New Hampshire Bank Suspends. DOVER, N. H., Jan. 14.-The Dover National bank suspended this morring. The cashier, who is also city treasurer, is probably a defaulter.


Article from Crawford Avalanche, January 24, 1895

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Robs a Bank and Dies. A notice was posted on the doors of the Dover, N. H., National Bank at 9 o'clock Monday morning that the institution had suspended and that by order of the board of directors the bank's affairs had been taken in charge by Bank Examiner C. M. Dorr. At 3 o'clock in the afternoon Isaac F. Abbott, the cashier, shot himself through the head at his home and was dead when, a few minutes later, a United States marshal appeared at the house with a warrant for his arrest. There is an apparent shortage of about $80,000 in Abbott't accounts.


Article from Evening Star, February 7, 1895

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Receivers Appointed. The controller of the currency has appointed William J. Broderick receiver of the First National Bank at San Bernardino, Cal., and Albert G. Whittemore receiver of the Dover National Bank at Dover, N. H.


Article from People's Voice, February 7, 1895

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Bank Failures Continue. Bank failures and defalcations continue to be the order of the day. On last Monday at Dover, N. H., Isaac F. Abbott, cashier of the Dover National bank, was discovered to be a defaulter to the amount of $85,000. On Saturday the bank at St. Charles, Minn., was restrained from doing business on an action brought by the state through the bank examiner, M. D. Kenyon. The complaint asks for a dissolution of the corporation and the appointment of a receiver. The capital stock of the bank is $25,000. of which over $20,000 had been loaned to J. F. Kingsland, the vice-president and ma nager. -Chicago Express.


Article from The Providence News, February 13, 1895

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DOVER BANK TO BE SUED. DOVER, N. H., Feb. 13-Asa Whittemore, receiver of the Dover National bank, filed his bond in court yesterday and took possession of the bank. The receiver was later called upon by Mrs. Ricker, a lawyer of this city, who asked him, in the name of the stockholders, to bring a suit in equity against the bank to make good the loss sustained by the stockholders. Receiver Whittemore asked for time to consider the matter, and was met by the statement from Mrs. Ricker that, if he decided not to bring suit, she herself, as a stockholder. would do so.


Article from San Antonio Daily Light, February 13, 1895

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The Woman Means Business. Dover, N. H., February 13.-Asa W hitmore, receiver of Dover National bank, of which Isaac Abbott was cashier, has filed his bond in court and is in possession of the bank. The receiver was called upon today by Mrs. Mary Ricker, a lawyer of this city, who asked him in the name of stockholders to bring a suit in equity against the bank to make good the loss sustained by the stockholders. Receiver Whitmore asked for time to consider the matter and was met by the statement by Mrs. Ricker that if he decided not to bring the suit, she herself, as a stockholder, would do so, and that a Boston lawyer would be associated with her in the suit. The announcement of the action created a great deal of excitement in this city.


Article from The Black Hills Union, February 15, 1895

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Bank Fatures Continues. Bank failures and defalcations continues to be the order of the day. On last Monday at Dover, N. H., Isaac F. Abbot, cashier of the Dover National bank, was discovered to be a detaulter to the amount of $85,000. On Saturday the bank at St. Charles, Minn. was restrained from doing business on an action brought by the state through the bank examiner, M. D. Kenyon. The complaint asks for a desolution of the corporation and the appointment of a receiver. The capital stock of the bank is $25,000, of which over $20,000 has been loaned to J. F. Kingsland. the vicepresidentand manager.-Chicago Express


Article from The Black Hills Union, February 15, 1895

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Bank Failures Continues. Bank failures and defalcations continues to be the order of the day. On last Monday at Dover, N. H., Isaac F. Abbot, cashier of the Dover National bank, was discovered to be a detaulter to the amount of $85,000. On Saturday the bank at St. Charles, Mion. was restrained from doing business on an action brought by the state through the bank examiner, M. D. Kenyon. The complaint asks for a desolution of the corporation and the appointment of a receiver. The capital stock of the bank is $25,000, of which over $20,000 has been loaned to J. F. Kingsland. the vicepresidentand manager.-Chicago Express


Article from The Portland Daily Press, April 26, 1895

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BETTER THAN EXPECTED. The Scale Down of 15 Per Cent on the Cocheco Bank of Dover May be Taken Off. Dover, N. H.. April 25.-Bank Commissioners Lyford and Hatch were here yesterday examining the affairs of the Cocheco and the Dover Five Cents Saving banks. The Cocheco bank. which was scaled down fifteen per cent in February. 1894, was found in a thriving condition. Regarding this, Bank Commissioner Hatch stated in an interview: "We have only words of commendation for the action the managers have taken since the scaling of the bank. At the time they had some greatly depreciated paper, but by careful and judicious effort they have been very successful in realizing upon these doubtful securities. They have some paper not yet realized upon. but which I have no doubt will be disposed of as soon as the market is better, to such advantage that the fifteen per cent scale down may be taken on. The commissioners held a long session with Receivers Joshua G. Hall of the Dover Five Cents Savings bank, and A. G. Whittemore of the Dover National. Commissioner Lyford was seen after the examination. He said that everything about the bank is progressing finely. Receiver Hall is closing up its fairs AS fast as possible, consistent with the interest of the depositors. By July the receiver will doubtless be able to pay from a forty to fifty per cent dividend to depositors. The work of closing up the affairs of a savings bank is necessarily slow, and it will be a long time before this one is wound up.


Article from The Providence News, February 20, 1896

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May Be Privately Settled. DOVER, N. H., Feb. 20.-A petition of Receiver Whittemore of the defunct Dover National bank and the Guprantee Company of North America. of Montreal, for a postponement of the case against the Guarantee company, brought by Receiver Whittemore to recover $20,000, the amount of the bonds of the late defaulting Cashier Abbott, was granted by Judge Chase yesterday, and the case will come up for trial in September. The petition is the result of a proposition made by the defendant looking toward a settlement of the case outside of the courts.


Article from The Portland Daily Press, September 10, 1896

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Defaulter's Bondsmon Settle. Dover, N. H., Setpember 9.-The case of Arthur G. Whittemore, receiver of the Dover National bank against the Guarantee company of North America, has been settled. The suit was brought by the plaintiff to recover $20,000 from the company which was on the bond of Isaao F. Abbott, the defaulting oashier to that amount. The company made an offer of $15,500, which has been aocepted.


Article from Daily Kennebec Journal, September 10, 1896

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NEW ENGLAND. Thursday-Brockton at New Bedford, Pawtucket at Fall River. Friday-Fall River at New Bedford, Pawtticket at Brockton. Saturday-New Bedford at Fall River, Brockton at Pawtucket. # NEWS NUGGETS. Brought by the Wires From North, East South and West. The New Jersey Democrats, Wednesday, in convention, endorsed the Chicago ticket and platform. A heavy northeast gale has prevailed at Nantucket, Mass., since Tuesday. The steamer Gay Head went to the main land, Wednesday, and cannot return, as the wind is blowing 40 miles an hour. Both Populist and Republican state committee met at Raleigh, N. C., Wednesday afternoon. Each committee appointed a sub-committee to confer and try to arrange for a state fusion. General John C. Black has written a letter formally declining the nomination of the National Democratic party of Illinois for Governor. It is understood that the executive committee has decided to replace Gen. Black with ex-Congressman W. S. Forman, the present nominee for attorney general on the same ticket. A northeast storm commenced early, Wednesday, at Gloucester, Mass., and has developed to a gale of considerable engergy, with indications of increasing. Many vessels have taken refuge in the inner and outer harbor. No disasters are reported. Wednesday, sufficient returns were in, at Columbia, S. C., to show that Gov. Evans was beaten by Gen. Earle for the Senate. Allowing Evans two-thirds of the unreported vote, and placing it at over 80,000, he cannot reduce Earle's majority below 3000 at the lowest estimate. A vote of 56,387 is accounted for. Of the vote already reported, Evans has 22,317 against Earle's 34,070. The case of Arthur G. Whittemore, receiver of the Dover National Bank, at Dover, N. H., against the Guarantee Company of North America, has been settled. The suit was brought by the plaintiff to recover $20,000 from the company which was on the bond of Isaac F. Abbott, the defaulting cashier, to that amount. The company made an offer of $15,500, which has been accepted.


Article from The Providence News, August 9, 1899

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DOVER'S WRECKED BANKS. Receivers and Assignees Will Soon Pay Dividends to the Depositors. Dover, N. H., Aug. 9.-Receiver E. H. Carroll of the Cocheco National Bark of this city which failed on June 5. is settling up the affairs of the institution rapidly as possible. It is expected that announcement of a G per cent, div idend payable to depositors will be made in a few days, William F. Nason, assignee of the Cocheco Savings Bank will pay a dividend of 20 per cent. to depositors of that institution on September 19. A dividend has also been announced by the assignee of the defunct Dover Five Cent Savings bank of this city, which was wrecked at the time of the failing of the Doyer National bank.