Newspaper articles state the Milford Savings Bank (referred to here as Milford Five Cents Savings Bank) closed during the Panic of 1893 and was wound up by assignees; final accounting and dividend payments occurred in April–May 1905. The bank name in the articles is given as Milford Savings Bank / Milford Savings bank, so I mark bank_name_unsure=true because the provided name (Milford Five Cents Savings Bank) does not exactly match the article text but is plausibly the same institution. Cause of suspension is the 1893 panic (macro_news).
Events (3)
1.January 1, 1893*Suspension
Cause
Macro News
Cause Details
Closed as a result of the Panic of 1893 which forced the bank to close its doors.
Newspaper Excerpt
the panic, which forced the bank to close its doors.
Source
newspapers
2.April 10, 1905Receivership
Newspaper Excerpt
The affairs of the Milford Savings Bank ... have been wound up by the assignees who, today, filed their final accounting in the Hillsboro county court. The Milford Bank has paid 99 per cent.. All three failed as the result of the 1893 panic which closed dozens of New Hampshire institutions.
Source
newspapers
3.May 3, 1905Receivership
Newspaper Excerpt
Assignee Carl E. Knight of the Milford Savings bank today paid a final dividend of four per cent to depositors, thus closing out the affairs of the institution. Depositors received in all 99 cents on the dollar.
Source
newspapers
Newspaper Articles (2)
1.April 11, 1905Daily Kennebec JournalAugusta, ME
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Article Text
AFFAIRS CLOSED. Bank Failures of 1893 Wound Up By Assignees. Manchester. N. H.. April 10.-The affairs of the Milford Savings Bank of Milford: Wilton Savings Bank of Wilton and Bank of New England of this city, have been wound up by the assignees who, today. filed their final accounting in the Hillsboro county court. The Bank of New England depositors received 96 per cent. of their deposits; the Milford Bank has paid 99 per cent. and the Wilton Bank, 85 per cent. All three failed as the result of the 1893 panic which closed dozens of New Hampshire institutions.
2.May 9, 1905The Providence NewsProvidence, RI
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Article Text
DEPOSITORS IN FAILED BANK RECEIVE 99 CENTS ON DOLLAR Milford, N. H., May 3.-Assignee Carl E. Knight of the Milford Savings bank today paid a final dividend of four per cent to depositors. thus closing out the affairs of the stitution. The bank had assets of $1,500,000 in 1893. the year of the panic, which forced the bank to close its doors. Depositors received in all 99 cents on the dollar.
