Dover Five Cents Savings Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: April 25, 1895
Location: Dover, New Hampshire (43.198, -70.874)

Metadata

Model: gpt-5-mini
Short Digest: 5303bd79

Response Measures

None

Description

Article (Apr 25, 1895) states a receiver (Joshua G. Hall) is closing up the Dover Five Cents Savings Bank and will pay dividends — the bank is in receivership and being wound up. No run is mentioned; this is a suspension leading to permanent closure with a receiver.

Events (2)

1. April 25, 1895 Receivership

Newspaper Excerpt: Receiver Hall is closing up its affairs ... 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. (Apr. 25, 1895).
Source: newspapers

2. April 25, 1895 Suspension

Cause: Government Action
Cause Details: A receiver (Joshua G. Hall) has been appointed and is closing up the savings bank's affairs, indicating closure by regulatory/court action.
Newspaper Excerpt: The commissioners held a long session with Receivers Joshua G. Hall of the Dover Five Cents Savings bank ... Receiver Hall is closing up its affairs as fast as possible, consistent with the interest of the depositors.
Source: newspapers

Newspaper Articles (1)

1. April 26, 1895 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, April 26, 1895

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Article Text

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.