12327. Bank of New England (Manchester, NH)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
May 29, 1896
Location
Manchester, New Hampshire (42.996, -71.455)

Metadata

Model
gpt-5-mini
Short Digest
676595c1d188937c

Response Measures

None

Description

Multiple contemporaneous newspaper reports (late May–early June 1896) state the Bank of New England, Manchester, N.H., suspended business by vote of directors with consent of the state bank commissioners (May 29, 1896). Reports note the bank had not recovered from losses in 1893 and that it 'will go into liquidation' and settle affairs with the assistance of a receiver — indicating permanent closure/liquidation rather than a temporary suspension or reopening. No articles describe a depositor run prior to suspension.

Events (2)

1. May 29, 1896 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank had not recovered from losses sustained in 1893; directors voted to suspend with consent of state bank commissioners.
Newspaper Excerpt
The Bank of New England has suspended business for the time being by a vote of its directors, and with the consent of the bank commissioners of the state.
Source
newspapers
2. June 6, 1896 Receivership
Newspaper Excerpt
The bank will go into liquidation but will settle its affairs through the assistance of a receiver.
Source
newspapers

Newspaper Articles (11)

Article from Deseret Evening News, May 29, 1896

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A Bank Suspends. MANCHESTER, N. H., May 29.-The Bank of New England has suspended business for the time being by a vote of its directors and with the consent of the bank commissioners of the state. Creditors are being paid with an idea of clearing up the depesits,


Article from The Topeka State Journal, May 29, 1896

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Bank of New England Suspends. Manchester, May 29.-The Bank of New England has suspended business for the time being by a vote of its directors, and with the consent of the bank commissioners of the state. Creditors are being paid with an idea of clearing up the deposits. The bank had not recovered from its losses in 1893.


Article from Vermont Phœnix, May 29, 1896

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All the income-tax returns made to the treasury have been destroyed by a committee of clerks appointed for that purpose. The Chamberlain syndicate, which has stores in Keene, Nashua, Fitchburg, Burlington, Brandon and Vergennes, will open a large department store in Rutland Sept. 1. The project of an electric railroad between Springfield, Vt., and Charlestown, N. H., is being agitated again, and the stockholders are to elect directors June 4. The "Ancients and Honorables" are in high feather. The Prince of Wales has accepted an invitation to dine with the company in London Thursday, July 9. Active work has been begun to raise the funds for the memorial to Richard M. Hunt, the architect, which is to be built with Daniel C. French as sculptor and Bruce Price as architect. The bank of New England, at Manchester, N. H., suspended business yesterday by consent of the bank commissioners of the state. The bank was one of the institutions which suffered during the storm of 1893. The seventh annual convention of the Medal of Honor legion will be held in Fanueil hall, Boston, on Bunker Hill day, June 17. Headquarters will be at the American House, and an interesting program of entertainment has been arranged. A Chicago engineer has a project for building an immense wall from the Rocky Mountains to the head of Lake Superior, and is confident that it will keep cold waves out of the country. This is not a good season to talk about such things, however. During last year the town of Bradford, England, increased its exports of coatings to the United States from $1,200,000 to $7,500,000, and of "stuff goods" from $2,200,000 to $8,400,000. It is hardly necessary to add that the people of Bradford enthusiastically indorse our Democratic tariff policy. A fire in North Bennington Wednesday destroyed two storehouses containing wall paper and a workshop belonging to the Stark Paper company, also barns belonging to George Morse and Frank Powers. The Stark Paper company's loss is about $4500 and the loss on the barns $1500. The losses are fully covered by insurance. The people who now owe or must yield allegiance to the Czar of Russia number nearly double the population of the United States. The empire extends over a seventh of the earth's land surface. For the defence of this vast realm Russia can bring into active service about $2,600,000 men, but the possible war footing is estimated at 7,800,000. McKinley pocket-knives, of the finest tempered American steel, the handles containing photos of the champion of protection and the White House, are the latest eampaign tokens to make their appearance in Washington. These knives were manufactured to order at Canton, Ohio, where McKinley lives, and those who have been honored by receiving them are very much elated at such a distinction. Lieut. Peary will start for Greenland again in July, but on a quest that will involve few risks or hardships. He is to go to Cape York to secure the great meteorite which he discovered last year and which is believed to be the largest in the world. The trip will, therefore, be only a summer one. With him will go a scientific party from Cornell university, headed by Prof. R. S. Tarr, the geologist. Prof. C. E. Putney has resigned as principal of St. Johnsbury academy. He has been connected with the institution 23 years, the last 14 years as principal. The salaries of the other teachers at the academy have been reduced. The prospect is that the institution will be crippled by the reduction in its income. A largepart of the endowment of the academy is in the stock of the Fairbanks company, which does not pay as large a per cent as formerly.


Article from The Houston Daily Post, May 30, 1896

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BANK SUSPENDS. Manchester, N.H., May 29.-The Bank of New England has suspended business for the time being by a vote of Its directors and with the consent of the bank commissioners of the State. Creditors are being paid with an idea of clearing up the deposits. The bank has not recovered from no Insees In 189%


Article from The Bryan Daily Eagle, May 31, 1896

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Bank Suspends Business. MANCHESTER, N. H., May 29.-The Bank of New England has suspended business for the time being by a vote of its directors and with the consent of the bank commissioners of the. state.


Article from Lincoln County Leader, June 4, 1896

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the same as heretofore. General Wheaton, who has just retunred to Denver from Arizona, says that if the arrangement now under consideration by the state department at Washington can be concluded, the depredations of Apaches in Arizona will be quickly stopped. It is proposed to let the federal troops in pursuit of the redskins cross the line Sinto Mexico and give the Mexican troops the right to cross the line into Arizona. Col R. P. McGlincey, a prominent politician and agriculturist, of San Jose, has been murdered. McGlincey's body, with a bullet in the head, was found in an outhouse on his ranch, near Campbell's Station, six miles from San Jose, in the township of Los Gatos. A neighbor named Page found the body, and, upon going into the house, found the body of McGlincey's son, Mrs. McGlincey, and her daughter; Minnie Shesler, a servant, and Robert Brisco, a hired man. The tragedy was enacted by the son-in-law of Mrs. McGlincey. James Dunham. The only survivor of the family is Dunham's baby, who was found sleeping peacefully by the side of his dead mother. George Schaeble, another hired man, barely escaped the fate of the others. The Grecian government, in a circular note to the powers, repudiates responsibility for the rebellion in Crete unless the porte restores Cretean autonomy. A Nuremburg dispatch says the first four prizes in the international chess masters tournament, to begin July 20, have been increased to $750, $500, $375 and $250 respectively. It is reported in Windsor, Ont., that the tug Lorimer, of Detroit, owned by Alexander Buell, has gone down in the middle ground off Pelee island and all hands lost. The report cannot be verified. John F. Caples and R. A. Booth, of Oregon, were on a visit to Cleveland, O., and presented a gold nugget to Mark Hanna, McKinley's manager. Speeches were made by Mr. Hanna and the Oregonians. The Diario, published in Buenos Ayres says that when congress has approved the unification of the Argentine debt, Dr. J. Romero, the minister of finance, will elaborate a scheme for the conversion of the paper money. In Los Angeles, Cal., an electric car ran over and killed an inmate of the Soldiers' Home, whose identity is unknown. The belief is that the old man was placed on the track by hoodlums, though it was apparently a case of suicide. The Pittsburg and Indiana manufacturers have closed down all the window-glass factories in the territories controlled by them. This throws 4,000 skilled workmen and about 1,500 laborers out of work a month earlier than usual. The Prohibition national convention held in Pittsburg, nominated the following ticket: President, Joshua H. Levering, of Maryland; vice-president, Hale Johnson, of Illinois. The silver plank was rejected and also the woman suffrage plank. The Madrid correspondent of the London Standard says it is made a condition of the French and Spanish bankers, who are largely interested in Spanish railway enterprises, to assist the government to obtain loans for the Cuban campaign. The bank of New England, of Manchester, N. H., has suspended business for the time being by a vote of its directors and with the consenst of the bank commissioners of the state. Creditors are being paid with an idea of clearing up the deposits. The bank had not recovered from its loss in 1893. Judge Hanford, of Seattle, has signed a decree foreclosing the mortgage held by the Bay State Trust Company on the Washington & Idaho railroad, and ordering the sale of the entire property of the road. The mortgage was dated September 2, 1889, and the entire amount of indebtedness is now $5,277.878.


Article from River Falls Journal, June 4, 1896

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THE EAST. The Vermont democrats in convention at Montpelier nominated J. Henry Jackson, of Barre, for governor. The platform indorses President Cleveland and his administration. The prohibition party met in sevenih national convention on the 27th at Pittsburgh. Pa., and Oliver W. Stewart, of Illinois, was chosen as permanent chairman. The committee on credentials reported 810 delegates present. A resolution pledging the convention not to abate its relentless war on the licensed rum power was ordered telegraphed to various religious bodies now in conference, also to congress. A massmeeting was held in the evening. The rye whisky distilleries in the eastern states will suspend operations on September 1 next, throwing 2,000 workmen out of employment. At Pittsburgh the prohibition national convention nominated Hon. Joshua Levering, of Maryland, for president of the United States, and Hon. Hale Johnson, of Illinois, for vice president. The platform declares only for the prohibition of the liquor traffic. Those in favor of a broad-gauge platform left the hall and formed a new party to be known as the national party. C. E. Bentley, of Nebraska, was nominated for president, and J. H. Southgate, of North Carolina, for vice president. The doors of the Bank of New England at Manchester, N. H., were closed. Gildemeister & Kroeger, piano manufacturers in New York, failed for $100,000. In Pittsburgh the National Junior Prohibition League of America held its first annual convention and elected G. W. Hopkins, of New York, as president. Emigration from German ports to the United States has been heavier during the past fiscal year than for years past, especially from Russia and Hungary. Percentages of the baseball clubs in the National league for the week ended on the 30th ult. were as follows: Cleveland, .645; Baltimore, 629; Cincin nati, .611; Philadelphia, .611; Boston, .588; Pittsburgh, .563; Chicago, .486; Washington, .471; Brooklyn, .471; New York, .400; St. Louis, .314; Louisville, .229. At the age of 63 years Mark M. ("Brick") Pomeroy, formerly publisher of the La Crosse (Wis.) Democrat, and Fomeroy's Democrat, New York, died at his home in Brooklyn. In Philadelphia the Garfield statue, the gift of the Fairmount Park Art association, was unveiled by Harry Garfield, a son of the martyred president. Flames destroyed H.J. Bohman's livery stable in New York and 40 horses were cremated. Residents of Johnstown, Pa., observed the seventh anniversary of the great flood in that city in which 3,800 persons perished.


Article from The Worthington Advance, June 4, 1896

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washed away and the crops ruined. The third biennial meeting of the General Federation of Women's Clubs convened at Louisville, Ky. Ten persons were killed in a tornado which struck the village of Labaddie, Mo. All the rye whisky distilleries in the eastern states will suspend operations on September 1 next, throwing 2,000 workmen out of employment. The schooner Lincoln, of San Francisco, was reported lost in Alaskan waters with her crew of 30 persons. Gildemeister & Kroeger, piano manufacturers in New York, failed for $100,000. Weather bureau officials in Washington say the St. Louis tornado was the most fatally destructive in the history of the office. The Northup, Eraslan, Goodwin company, dealers in seeds in Chicago, failed for $200,000. The Bank of New England at Manchester, N. H., closed its doors. Latest reports from the storm that swept over St. Louis, East St. Louis and towns in the vicinity place the loss of life at 463 and the number injured at 718. The property loss was estimated at between $4,000,000 and $5,000,000. The total number of families who were without homes and whose every article of household effects was sweptaway by the storm was variously estimated at from 500 to 800. Nineteen dwellings were wrecked and numerous outbuildings and trees were torn to pieces by a tornado at Mount Vernon, Ind. A hurricane in Indiana did immense damage at Elwood, Lapel, Alexandria, Middletown, Muncie, Frankton, Linwood and Yorkton. Three hundred feet of the roadway of the Northern Pacific railway sunk in Bumars lake near Aitkin, Minn. It was estimated that 50 lives were lost in Clinton, Washington and Jefferson counties, III., in the recent cyclone and a vast amount of farm property was destroyed. The National Junior Prohibition League of America held its first annual convention in Pittsburgh, Pa., and elected G. W. Hopkins, of New York. as president. The percentages of the baseball clubs in the National league for the week ended on the 30th ult. were as follows: Cleveland, 645; Baltimore, .629; Cincinnati .611; Philadelphia, .611; Boston, .588; Pittsburgh, .563; Chicago, .486; Washington, .471; Brooklyn, .471; New York, .400; St. Louis, .314; Louisville .229 The exchanges at the leading clearing houses in the United States during the week ended on the 30th ult. aggregated $917,269,358, against $991,339,029 the previous week. The increase, compared with the corresponding week in 1895 was 12.0. There were 239 business failures in the United States in the seven days ended on the 30th ult., against 227 the week previous and 215 in the corresponding period of 1895. Fire destroyed H. J. Bohman's livery stable in New York and 40 horses were cremated. Decoration day was generally ob. served throughout the country. Kate Niernay, Mabel Walfer and Lizzie McKeon were drowned in the Harlem river at New York by the upsetting of a boat. By the premature explosion of powder at Waterloo, Ia., Fred Burmeister and Julius Burmeister were fatally injured. The emigration from German ports to the United States has been heavier during the past fiscal year than for years past, especially from Russia and Hungary. In я dispute over a mineral claim at Brown's Park, Utah, Matt Warner shot and killed four men. The government customs receipts for the month of May were $10,949,973, against $12,474,558 in May. 1895. The deficiency for the year was $26,870,472. J. E. Jenner & Co., dealers in wholesale millinery in Milwaukee, failed for $150,000. At Chelsea, Mich., Emma Morekel was shot and killed by her fiance, Fred Hydloff, who then shot himself, but not fatally. Jealousy was the cause. Many buildings were wrecked at Seneca., Mo., by a cloudburst and 25 persons were drowned. The Garfield statue, the gift of the Fairmount Park Art association, was unveiled in Philadelphia by Harry Garfield, a son of the martyred president. Three principal real estate dealers state that they have figured that the actual real estate loss in St. Louis by the cyclone will not exceed $12,000,000. The United Elevator company of St. Louis was placed in the hands of a receiver with liabilities of $2,000,000. George Mock killed his wife at Marysville, Kan., and then took his own life. A quarrel was the cause. PERSONAL AND POLITICAL. Charles Warren Lippitt was inaugur. ated governor of Rhode Island at Newport. Vermont democrats in convention at Montpelier nominated J. Henry Jack-


Article from Bellows Falls Times, June 6, 1896

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New Hampshire News. Seven saloons and bowling houses have been closed in Concord. By the death of Dr. E. K. Baxter of Boston, Kimball Union academy, of which he was an alumnus, receives $5000. Dr. J. C. Moore was for the second time convicted by the Nashua court last week. Sentence was deferred and additional bail was required. Burt L. Taylor, ex-town treasurer of Lancaster, is held in $10,000 bail for trial on an allegation that he has embezzled the town funds. He was 20 years in office and is in good financial circumstances to all appearances. An expert is at work on the books. The bank of New England at Manchester has suspended business for the time being by vote of its directors and with the consent of the bank commissioners of the state. The bank will go into liquidation but will settle its affairs through the assistance of areceiver. At the meeting of the officers of the New Hampshire legislative reunion at Concord last Wednesday, Hon. Samuel B. Page of Woodsville was elected chairman of the executive committee and was authorized to name the sub-committee necessary toarrange the details of the event.


Article from Elmore Bulletin, June 10, 1896

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THE NEWS RESUME A DIGEST FROM ALL PARTS OF THE WORLD. Comprehensive Review of the Import- Week ant Happening* of the Past Culled From the Telegraph Columns -At Home and Abroad. Nuremburg dispatch says the chess first A prizes in the international 20, masters four tournament, to begin July $500, have been increased to $750, $375 and $250 respectively. It is reported in Windsor, Ont., owned that by Lorimer, of Detroit, in the Alexander the tug Buell, has gone down and all ground off Pelee island be verihands middle lost. The report cannot fied. F. Caples and R. A. Cleveland, Booth, of John were on a visit to to Oregon, and presented a gold nugget manager. O., Hanna, McKinley's and Speeches Mark were made by Mr. Hanna the Oregonians Diario, published in has Buenos apThe says that when congress Argentine Ayres the unification of the minister of proved Dr. J. Romero, the for the finance, debt, will elaborate a scheme conversion of the paper money. Los Angeles, Cal., an electric of car the In and killed an inmate is unran Soldiers' over Home, whose identity the old The belief is that hoodknown. was placed on the track by case man lums, though it was apparently a of suicide. Pittsburg and Indiana manufac- the winThe have closed down all territories turers factories in the 4,000 controlled dow-glass by them. This throws laworkmen and about 1,500 earlier skilled borers out of work a month than usual. Prohibition national convention the folThe Pittsburg, nominated H. held in ticket: President, Joshua Levering, lowing of Maryland; vice-president, The silver Johnson, of Illinois. the woman plank Hale was rejected and also suffrage plank. Madrid correspondent of a con- the The Standard says it is made bankLondon of the French and Spanish interested in dition who are largely to assist ers, railway enterprises, for the the Spanish government to obtain loans Cuban campaign. bank of New England, business of Man The N. H., has suspended of its di chester, time being by a vote of the for the and with the consenst state rectors commissioners of with the an idea bank are being paid The bank Creditors up the deposits. in 1893. of had clearing not recovered from its loss Hanford, of Seattle, has signed held Judge foreclosing the mortgage on 8 decree Bay State Trust railroad, Company and by the Washington & Idaho property the the sale of the entire was dated ordering the road. The mortgage the entire 873. September of amount of indebtedness 2, 1889, and is now $5,277, In Berlin, it is said evangelical a resolution conby the socialist course passed warmly approving regarded the as against gress, Dr. Stoecker, may be the emperor's pronunciamento of censure against the of former the dispatch chaplain. The passage senresolution court has caused the greatest sation there. Athens dispatch says: The the be An of Vemos have rejected consuls, siegers offered by the foreign be surrenterms arms and supplies of troops that the and that the garrison official dered be removed. A witness high Turkish of the Canea solwho was an admits eye that a Turkish cavass dead. dier massacre, deliberately shot the Greek A private letter received Africa confirms in Prescott, the Ariz., from South of the killing of H. news H. Johnson, N. They were in the telegraphic Palmer and W. the when mines near Buluwayo. miles from Buluwayo, massacred. thirty was attacked and known minparty was one of the best coast, and Palmer men on the John was ing a and warm mill personal friend of Hays Hammond. nal the arrival of the steamer smade Sig Upon in Astoria announcement programme of hand of a change in coming the to the Pacific steamling Chinese Canadian Pacific line landed of at the by the Instead of being they ers. point to their destination, and the nearest be held on the Sound forwarded will identification papers will be officials the oustom house seek ad by the mail points to where the Chinese mission. body of a woman was in found front floating The in the Columbia head and river, neck had mangled with some There been of Astoria. horribly presu The lably an ax. from sharp the instrument, gash extending of th was of a large the forehead to the several bridge other top and there were head, an nose, the back of the Th them identified as said wounds of on sufficient was to cause death. Esther is Gun ion, living woman a quarter-breed, in who a 800W nea t have Woodly been island with Sam Maylandt,


Article from Condon Globe, June 12, 1896

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EVENTS OF THE Epitome of the Telegraph News of the World. TERSE TICKS FROM THE WIRE An Interesting Collection of Items From the Two Hemispheres Presented in a Condensed Form. The Grecian government, in a cirnote to the powers, repudiates for the Crete sponsibility cular rebellion Cretean in unless the porte restores autonomy. A Nuremburg dispatch says the first four prizes in the international chess. tournament, to been increased to have masters begin $750, July $500, 20, $375 and $250 respectively. in that the of by It tug is reported Lorimer, Windsor, Detroit, Ont., owned Alexander Buell, has gone down in the off Pelee all middle ground island be and verihands lost. The report cannot fied. John F. Caples and R. A. Booth, of were on a visit to Cleveland, a gold nugget to manager. Hanna, Oregon, O., and presented McKinley's Speeches Mark Orewere made Mr. Hanna and the gonians. The Diario, published in Buenos Ayres, says that when congress has ap. proved the unification of the Argentine debt, Dr. J. Romero, the minister of finance, will elaborate a scheme for the conversion of the paper money. In Los Angeles, Cal., an electric Car and killed an inmate of the whose unSoldiers' ran over Home, identity the old is known. The belief is that man was placed on the track by hoodlums, of though it was apparently a case suicide. The Pittsburg and Indiana manufacturers have closed down all the window-glass factories in the territories them. and about lacontrolled skilled workmen by This throws4,000 1,500 borers out of work a month earlier than usual. The Prohibition national convention nominated the folticket: President, held lowing in Pittsburg, Joshua H Levering, of Maryland; vice-president. Hale Johnson, of Illinois. The silver plank was rejected and also the woman uffrage plank. The Madrid correspondent of the London Standard saysit is made a condition of the French and Spanish bank. in are largely to ers, Spanish who railways enterprises, interested for assist the government to obtain loans the Cuban campaign. The Bank of New England, of ManN. H., has suspended business first time, being by a chester, for the consent vote of its directors and with the of commissioners of the state. are being paid an Creditors the bank with The bank idea of clearing up the deposits. had not recovered from its loss in 1893. Judge Hanford, of Seattle, has signed decree foreclosing the mortgage held the State Trust on & Idaho ora by Washington Bay railroad, Company and the the sale of the entire property road. The mortgage was 2, 1889, and dering of September the the entire dated amount of indebtedness is now $5,277, 878. In Berlin, it is said a resolution the socialist evangelical conapproving passed gress, warmly by regarded the course as of Dr. Stoecker, may be pronunciamento against the emperor's dispatch of censure against the former the court chaplain. The passage of resolution has caused the greatest sensation there. An Athens dispatch says: The be of Vemos have offered by the siegers terms foreign rejected consuls, the that the arms and supplies be surrendered and that the garrison of troops be removed. A high Turkish official who was an eye witness of the Canea admits that a massacre, Turkish Greek cavass soldier deliberately shot the dead. A private letter received in Prescott, Ariz., from South Africa confirms the news of the killing of H. and W. H. N. telegraphic Palmer Johnson, the near Buluwayo. They were in mines thirty miles from Euluwayo, when the party was attacked and massacred. Palmer was one of the best known minand mill men on the coast, and ing was warm personal friend of John Hays Hammond. Upon the arrival of the steamer Sig nal in Astoria annoucement was made in the programme of handChinese coming to the Canadian of of coast ling a change by Pacific the Pacific line steamers. Instead of being landed at the nearest point to their destination, they will be held on the Sound and the papers will be forwarded to the custom house identification by mail Chinese officials seek ad the points where the of a woman was mission. The body in found front floating in the Columbia river, The head and mangled with some of been Astoria. horribly neck There sharp had instrument, presumably an ax. was a large gash extending from the top of the forehead to the bridge of the