Article Text
Suspension of a Bank. MILFORD, N. H., October 30-The Milford Five Cents Savings Bank has suspended, with liabilities of half a million dollars-covered, it is believed, by assets.
12341. Milford Five Cents Savings Bank (Milford, NH)
Bank Information
- Episode Type
- Run → Suspension → Closure
- Bank Type
- savings bank
- Start Date
- October 28, 1874
- Location
- Milford, New Hampshire (42.835, -71.649)
Metadata
- Model
- gpt-5-mini
- Short Digest
3c3a793f1b7a69d0
Response Measures
None
Description
Multiple contemporaneous newspapers (late Oct 1874) report a heavy run that induced the Milford Five Cents Savings Bank to suspend on Oct 30, 1874. Reports say depositors were nervous after a missed dividend and prior Nashua suspensions; suspension was expected to lead to winding up (permanent closure). Dates: run described as occurring the preceding Wednesday; suspension reported Oct 30, 1874.
Events (3)
1.
October 28, 1874
Run
- Cause
- Local Banks
- Cause Details
- Depositor nervousness after failed dividend and prior suspension of Nashua banks led to a heavy run (withdrawals) on the Milford bank.
- Measures
- Heavy withdrawals prompted the bank to suspend payments shortly thereafter.
- Newspaper Excerpt
- the failure to pay an expected dividend in August and the suspension of the Nashua banks last year made depositors nervous and a heavy run Wednesday induced the suspension.
- Source
- newspapers
2.
October 30, 1874
Suspension
- Cause
- Local Banks
- Cause Details
- Suspension followed the heavy run induced by depositor nervousness (missed dividend and previous local bank suspensions).
- Newspaper Excerpt
- The Milford Five Cents Savings Bank has suspended, with liabilities of half a million dollars, covered, it is believed, by assets.
- Source
- newspapers
3.
*
Other
- Newspaper Excerpt
- It is likely that the concern will be wound up. There is considerable popular feeling against some of the officers. The investigation ... results in cutting down the accounts of depositors 10 per cent ... the bank had estimated the loss at only 41 per cent. The actual loss is probably about 8 per cent.
- Source
- newspapers
Newspaper Articles (11)
Click image to open full size in new tab
Click image to open full size in new tab
Article Text
-The total loss by fire at Green Castle, Indiana, is about $825,000. Insurance $133,000. - The Milford, N. H., five cents Savings Bank has suspended with liabilities of half a million dollars, covered it is believed by assets. 1 -Three executions will take place in Pennsylvania on the 12th ot November. Udderzook at West Chester, and O'Mears and Ervin at Montrose.
Click image to open full size in new tab
Article Text
Suspension of a Savings Bank. MILFORD, N. H., Oct. 30 - -The Milford Five Cents Savings Bank has suspended with liabilities of half a million dollars, covered, it is believed, by the assets.
Click image to open full size in new tab
Article Text
GENERAL NEWS. / George H. Kingsbury. Assistant Receiving Teller of the National Bank of Redemption at Boston. was arrested yesterday for stealing $31,000 from the bank. He returned $20,000. The Milford Five Cents Savings Bank, at Milford, N. H., has suspended. Its liabilities are about $500,000, but will be covered, it is believed, by securities held by the bank. It is likely that the concern will be wound up. There is considerable popular feeling against some of the officers.
Click image to open full size in new tab
Article Text
NEW HAMPSHIRE. Suspension of a Savings Bank. MILFORD, Oct. 30.-The Milford Five Cen t Savings Bank has suspended with liabilities at half a million, which will be covered it is believed by securities held by the bank. Excitement runs high against some of the bank officials and is increasing. The bank has stood well in the past, but failure to pay an expected dividend in August and the suspension of the Nashua banks last year made depositors nervous and a heavy run Wednesday induced the suspension. It is likely the concern will be wound up.
Click image to open full size in new tab
Article Text
NEW HAMPSHIRE. Nashua, October 30. Julia A. Goodale. suffering from a cancer, committed suicide this morning by drowning. Herbody was re covered. Milford, October 30. The Milford Five Cent Savings Bank has suspended, with lia bilities of half a million, which will be covered, it is believed, by securities held by the bank. Concord, October 30. Thursday, Nov. 26, has been appointed by the Governor and Council as a day of public thanksgiving.
Click image to open full size in new tab
Article Text
returned $20,000. The Louisiana Trouble NEW IBERIA, La., October 31st The Deputy Marshal arrested to-day at St. Martin Parish, eight persons. At the examination one was discharged, two held under bonds of $6,000 each, and the others in $1,000 each. Two men were arrested in Iberia Parish to-day. A number of rich planters offers to make affidavit that Commissioner Ridell refused to accept them as bondsmen for the arrested men. NEW ORLEANS, October 30-Five persons were reported to Marshal Packard, to-day, as having been arested in Camp Merrill, October 22d, for complicity in the Coushatta affair. Duff Sells out and Resigns. NEW YORK, October 30th.-It is reported that John Duff has sold his stock in the Atlantic and Pacific Telegraph Company to the Union Pacific Railroad Company and has resigned as President of the company. Mr. L. S. Morton has resigned as trustee in the Atlantic and Pacific Telegraph Company. That Bill of Items. NEW YORK, October 30.-Chief Justice Neilson has denied the motion of counsel for Henry Ward Beecher to compel Theordore Tilton to furnish a bill of particulars, specifying the time and place in which the alleged improper intimacies took place between Beecher and Mrs. Tilton. An Unsafe Savings Bank. MILFORD, N.H., October 30th.-The Milford Savings Bank has suspended. Liabilities, $500,000; covered, it is believed, by assets. Washington Items. WASHINGTON, October 30th.-The P esident has appointed A. Martin Melter and Refiner in the San Francisco Mint. Thos. P. Ochiltree has been suspended from the office of Marshal of the Eastern District of Texas and Lemuel D. Evans has been appointed instead. Evans was formerly a Judge in Texas and ex-Member of Congress. Secretary Bristow has had under consideration for some time the question whether Federal office-holders should be allowed to become candidates for election for office while they hold their positions. The President and Secretary has held several consultations with regard to this question. The President fully approved of the views of the Secretary, which are that Federal office-holders should under no circumstances during their term of office, become candidates for elective positions. The Massachusetts Republicans De. moralized. A Times Washington special says: "A well-known Maesachusetts Repuplican who reached Washington this morning says there is a good deal of demoralization in the party ranks there. The prohibition platform is driving off thousands of Republicans from the support of the ticket in the cities and towns where the license policy is favored. It is not thought that the State ticket will be lost, although a large reduction of the usual Republican majority s conceded. The Opposition are very confident of securing three if not four of the Congressmen. Gen. Banks is sure of his election. The attempt of his Republican opponent to carry the workmen in the Charlestown Navy Yard against him has failed. In the Lowell district the unpopularity of Ayr promises to elect Turbox, his opponent; whilst Chapin, President of the Boston and Albany Rallroad, will carry the Springfield District. It is said that Republican disaffection in one of the Boston Distriet gives the opposition a favorable show there. Clews' Bankruptey-Charges Against the Notorious Commissioner Davenport. NEW YORK, October 29th.-A motion in behalf of the creditors appoint a receiver of the property of Henry Clews was denied. An application was made in the U. S. Court to-day, on the part of Oswald Ottendorfer and others, for the removal of U.S. Commissioner Davenporton the grounds of malfeasance in office and improper and arbitrary use of powers vested in him as Supervisor of Elections. He is also charged with eausing the arrest of respectable citizens without any provocation, committing persons under excessive bail, and refusing to grant them an examination legally. It is also charged that he used his authority for the purpose of assisting political friends and furthering his personal interests. PHILADELPHIA, October 29th.-In the Jay Cook case, before the U.S. Circuit Court, Judges Strong and McKenan have reversed the order of the District Court appointing a meeting of the creditors under the 27th section of the Bankrupt Act.
Click image to open full size in new tab
Article Text
"The Milford (N. II.) Five-Cents Savings Bank has suspended, with liabilities of half a million dollars, which will be covered, it is believed, by securities held by the bank. Excitement runs high against some of the bank officials, and is increasing. The bank has stood well in the past, but the failure to pay an expected dividend in August, and the suspension of Nashua banks last year, made the depositors nervous. It is likely that that the concern will be wound up."
Click image to open full size in new tab
Article Text
The East. The Episcopal General Convention, at its recent session in New York, adopted a canon against ritualistic practices by a vote of 72 to5. The fourth annual session of the American Bee-Keepers' Association is to be held in Pittsburgh, Pa., commencing on the second Wednesday of November. The suspension of R. W. Burke, petroleum refiner, in New York city, was announced on the 29th. The Milford (N. H.) Five Cent Savings Bank has suspended, with liabilities of $500,000, covered, it is believed, by its assets. Ex-Gov. Enos T. Throop, of New York, died at Willow Brook on the 1st. The base-ball season closed on the 31st ult., the Boston club (Red Stockings) still retaining the championship.
Click image to open full size in new tab
Article Text
POI UTICAL. -Among those mentioned as probable candidates for the Presidency, at the next election, is Hon. Joseph Medill, late Mayor of Chicago. -The Milford (N. H.) Five Cent Savings Bank has suspended, with liabilities of $500,000, covered, it is believed, by its assets.
Click image to open full size in new tab
Article Text
new election must be had, in which case he an would stand about as much chance of election as Ben Butler does of being elected governor of Massachusetts. It seems that Congressman James H. Platt, a West Virginia carpet bagger from Vermont was reelected in November on the republican ticket, but the democratic commissioners are trying to count him out by fraud. The entire vote in several precincts where he had majorities is thrown out by them, and the clerks' offices in one or two counties have been broken open and the poll books and ballots from those precincts giving Platt majorities stolen. Talk about the purity of either party! They are as pure hell is righteous. A shocking massacre of white settlers by the Esquimaux Indians occurred at the set. tlement of Indian-Tiekle, Labrador, on the 15th inst., two whole families, with the ex. ception of young girl, being the victims. For some time back the Indians had been committing robberies, and several of the depredators being captured they were pubwhipped. In revenge, on the night of the 15th inst., they attacked the families of William J. Morrison and his two SODS Thomas and Herbert, and Robert Morrison and wife and their children, William Charles, James and Lizzie, murdering all except the last named. This is the first in. stance of criminal or troublesome conduct among the Esquimaux in Labrador in the memory of the oldest fisherman. Agriculture has enriched no section of the country with the suddenness and the abun. dance with which it has poured wealth into California. While. commercial San Francisco has had the blues, rural California has suddenly grown rich, Everybody, says the San Francisco Bulletin, has capital to lend 'And the bank on California street to raise its capital to $5,000,000, and money. lending overtops all other business. Private citizens open offices to dispose of their own capital, and "laboring-men and servant-girls' join the army of lenders. The city savings banks, which used to refuse to lend on coun. try property, are now receiving remittances for investment from the savings banks which have been established in the country itself. In fact. the surplus of idle capital is greater than that in St. Louis or Chicago, which have double the population of San Francisco, and the demand is urgent for manufactures commercial investments, or "something to do. California is hard money state, NEW HAMPSHIRE All the Manchester manufactories, except the print-works, have been running only five days a week for some time, but they are to resume on full time in a for days. The investigation of the affairs of the Milford savings bank, recently robbed, re sults in cutting down the accounts of de positors 10 per cent, though the bank had estimated the loss at only 41 per cent. The actual loss is probably about 8 per cent. MASSACHUSETTS. James McCann of Boston upset a kero sene lamp while drunk on Monday night, and was burned to death. An officer of a large manufacturing corpo ration, having his head-quarters at Boston gets big salary as the president of the United States. Wonder if the manufactory he represents is running on half time on count of poor markets and the high wages of operatives? A West Roxbury fireman heard what he supposed to be the screams of an infant in burning building, last week, and, seizing blanket, he rushed into the blinding smoke, and, catching up the child, made a hasty exit. When he carefully unwrapped the blanket before the crowd, he disclosed three months' pig. CONNECTICUT. The Connecticut poultry society propose to make their exhibition at Hartford, next month, the best one of the season in this country. The premiums amount to $1611. RHODE ISLAND Eliza A. Cranston, wife of Jackson Cranston, recently from Boston, was burned to death at Providence, Sunday morning. The husband was stupidly drunk in bed, with his clothes on, and the wife, partially in toxicated, upset a table, with a kerosene lamp, and was fatally burned when the oth. er tenants of the house reached the scene. NEW YORK. Mayor Havemeyer, of New York City fell dead while engaged in his official business at City Hall, Monday. are The inspectors in the custom-house alarmed over a prospective reorganization which, it is believed, will throw out men who have not done enough political work to please their superiors and replace them with more serviceable tools. A New York jury and a New York judge (Barrett) have actually gone and done broken the spell of 22 years' immunity, and convicted and sentenced a liquor dealer, one Sigismund Schwab, to 30 days in the city prison and to pay fine of $200 for selling without a license, The judge furthermore warned the liquor-dealers that, if their ganized resistance to the law continued. the full penalty would be meted out in all future cases, The conviction and sentence of Sigismund Schwab in New York City, for selling liq uor without license, has thoroughly scared the liquor dealers, as is evinced by the sud. den and overwhelming increase in the de. mand for licenses, many of them from men who haven't taken out a license before for If decade. Friday, the excise board received 200 applications and took in $14,000, and many went away uuable to be attended from want of sufficient clerical force. Here. tofore $100 day has been an unusually good day's work, and $100 a week not infrequently the average. A horrible tragedy is reported from Ham ilton county. A carpenter named Elias Williams and an assistant named George Smith, who were erecting a frame house he midst of the forest, got into a drunken quarrel, when Williams in the course of the struggle throw Smith over a wooden saw horse, and then with a hand-saw, which h all the time held in his hand, sawed off the head of his antagonist, severing it entirely from the body. His rage cooling, remorse followed, and he cut his own throat with the saw, falling corpse beside the remains of Smith. A lad named Grant witnessed the tragedy and conveyed the news two miles to people who reside nearest the scene of the