Arlington Trust Company (Lawrence, MA)

Episode Information

Episode UID
1147485591584
Episode Type
Run → Suspension → Unsure
Bank Type
trust
Bank ID
114748559 hash
Start Date
December 16, 1931
Location
Lawrence, Massachusetts (42.707, -71.163)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2d1a9e3371a26757

Response Measures

None

Description

Articles show heavy withdrawals and invocation of a 30-day notice then reports of banks closing their doors a few days later; no clear evidence on permanent failure or reopening.

Events (2)

1. December 16, 1931 Run
Cause
Local Banks
Cause Details
Heavy withdrawals affecting multiple local banks/region triggered large withdrawals at Arlington.
Measures
Announced temporary right to require notice and imposed a 30-day withdrawal notice period for certain deposits.
Newspaper Excerpt
The Arlington Trust Company issued statement that it had temporarily the right to require notice ... requiring withput 30-day period.
Source
newspapers
2. December 19, 1931 Suspension
Cause
Local Banks
Cause Details
As result of large withdrawals and regional banking distress, Arlington closed its doors.
Newspaper Excerpt
cuatro bancos cerraron a sus puertas ... el Arlington Trust Co., de Lawrence
Source
newspapers

Newspaper Articles (2)

Article from The Boston Daily Globe, December 16, 1931

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Article Text

HEAVY WITHDRAWALS AT BANKS IN LAWRENCE Dec of the the Trust Company today heavy the other local and they tinued until the close of business this savings banks and the cial banks that affected by the withdrawals, all of the banks took customers, and officials of said tonight that take of demands that might be made The Arlington Trust Company issued statement that it had temporarily the right to require notice statement said, in part: "The Arlington Trust has ample funds and resources in its savings department. All funds so deposited are entirely Moreover, means loss of terest for six months' period Because of this the company unwise permit continual withdrawal funds large While the requiring withput 30-day period. is likely that conditions will change that it may be possible to suspend it after few Several truckloads of cash were brought during the day from other cities and of were the banks depositors their Following meeting of the stockholders of the Lawrence Trust Company, Pres Cornelius Corcoran issued the closing the Federal National Bank of Boston, the depository of the Law-


Article from La Gaceta, December 19, 1931

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Article Text

(RC BANCOS CERRAGON SUSPUERTAS sto dic. 19.-Como resulBdo de las grandes vetiradas de dinero, cuatro bancos cerraron a sus puertas ayer, en New Inde gland. de Las instituciones bancarias que han suspendido sus operacio freció nes son el Boston Continental un National, de Boston; el Hamden Bank and Trust Company de Hamden, Conn.; el Arlington Trust Co., de Lawrence, y el Plymouth County Trust Co., de PERBrockton. El estado financiero de los bancos, según los últimos informes rendidos es como sigue: Boston resiContinental, depósitos de 6,281, esqui960 pesos, capital en existencia los de $1,000,000, sobrantes $150, 000; Hamden, valores de 2,097, diez 683 pesos; Arlington Trust, deen pósitos de $7,150,003.70; Plyla a mouth County, depósitos de co- $3,816,073.73.