13803. Keene Guaranty Savings Bank (Keene, NH)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
March 26, 1900
Location
Keene, New Hampshire (42.934, -72.278)

Metadata

Model
gpt-5-mini
Short Digest
f4ec2d29

Response Measures

None

Description

Newspaper accounts (Mar 26-29, 1900) report New Hampshire bank commissioners petitioning the court to appoint assignees for the Keene Five Cents Savings Bank because it had not received deposits lately amid belief of losses from western investments. No explicit run or depositor panic is described; the legal action points to suspension/receivership and likely closure. Date taken from articles (March 26, 1900).

Events (3)
1. March 26, 1900 Other
Newspaper Excerpt
Neither bank has received deposits of late, owing to the general belief that they sustained losses through western investments. Five Cents owes $1,449,058.
Source
newspapers
2. March 26, 1900 Receivership
Newspaper Excerpt
The bank commissioners for New Hampshire have filed a petition with the clerk of Cheshire county Supreme Court asking that an assignee be appointed for the Keene Five-cents Savings Bank.
Source
newspapers
3. March 26, 1900 Suspension
Cause
Government Action
Cause Details
State bank commissioners filed petitions asking that assignees (receivers) be appointed due to perceived losses from western investments.
Newspaper Excerpt
The bank commissioners of New Hampshire have filed petitions with the clerk of the Cheshire county supreme court, asking that assignees be appointed for the Keene Guaranty Savings bank, and the Keene Five Cents Savings bank.
Source
newspapers

Newspaper Articles (2)
1. March 26, 1900 Las Vegas Daily Optic Las Vegas, NM
Article from Las Vegas Daily Optic, March 26, 1900

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Article Text

Four Bank Failures. Keene, N. H., March 26-The bank commissioners of New Hampshire have filed petitions with the clerk of the Cheshire county supreme court, asking that assignees be appointed for the Keene Guaranty Savings bank, and the Keene Five Cents Savings bank. Neither bank has received deposits of late, owing to the general belief that they sustained losses through western investments. Five Cents owes $1,449,058. Guaranty Savings bank $718,873. Washington, March 26-The comptroller of the treasury received word that the Merchant's national bank, of Rutland, Vermont, had closed this morning. Rutland, Vt., March 26-The Merchant's national bank closed its doors today. Cashier Charles W. Mussey is under arrest charged with misappropriation of funds. The amount of shortage is not known. The following is a synopsis of the report of the condition of the bank made by comptroller of currency under call of February 13th: Liabilities, capital $100,000; surplus and profits $3,383, due depositors and bankers $351,549; circulation $21,870. Resources: loans discounts $361,363; other assets including cash $115,438. Bank Examiner D. D. Muir has been appointed temporary receiver. Rutland, Vt., March 26-It is announced that the shortage of Cashier Mussey amounts to $145,000. The cashier was arrested at Albany, N.Y.

2. March 29, 1900 Delaware Gazette and State Journal Wilmington, DE
Article from Delaware Gazette and State Journal, March 29, 1900

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Article Text

RECEIVERS FOR BANKS ASKED FOR. They Are Located in Keene, N. H., and Are Thought to Have Sustained Losses. Keene, N. H., March 26.-The bank commissioners for New Hampshire have filed a petition with the clerk of Cheshire county Supreme Court asking that an assignee be appointed for the Keene Guaranty Savings Bank of this city, and a petition of the same nature for the Keene Five-cents Savings Bank. The finances of both these institutions have been considered uncertain for some time and neither bank has received deposits of late, owing to a general belief that they had sustained losses through western investments. The Keene Five-cents Savings Bank has paid depositors one dividend of 10 per cent. It owes $1,449,058. The Keene Guaranty Savings Bank has paid depositors a dividend of 5 per cent. This institution owes $718,873. The petitions of the commissioners will come up for a hearing at the April term of court. AN THER CLOSES ITS DOORS. Washington, March 6.-The Controller of the Treasury has received word that the Merchants National Bank of Rutland, Vt., closed its doors this morning. Following is the synopsis of the report of the condition of the bank made to the Comptroller of the Currency under the call of February 13th, 1900: Liabilities-Capital, $100,000; surplus and profits, $3,383: due to depositors, banks and bankers, $351,549; cir. culation, $21,870. Resources-Loans and discounts, $361,363; other assets, including cash, 8115,436. Bank Examiner D. D. Muir has been appointed temporary receiver.