Belknap Savings Bank - Laconia, NH

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: May 17, 1897
Location: Laconia, New Hampshire (43.528, -71.470)

Metadata

Model: gpt-5-mini
Short Digest: c6f9bddb

Response Measures

None

Description

The Belknap Savings Bank stopped doing business on May 17, 1897 and remained suspended while trustees paid dividends; an assignee (receiver) was appointed Oct 17, 1901. No run is described. Cause of suspension described as temporary tying up of much of its resources, suggesting bank-specific asset problems/liquidity.

Events (2)

1. May 17, 1897 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank stopped business because much of its resources were temporarily tied up (asset/portfolio illiquidity).
Newspaper Excerpt: When the bank ceased doing business the amount due to depositors was $961,273. The Belknap Savings bank ... stopped doing business on May 17, 1897, on account of the temporary tying up of much of its resources.
Source: newspapers

2. October 17, 1901 Receivership

Newspaper Excerpt: Laconia, N. H., Oct. 17.-William H. Plummer has been appointed assignee of the Belknap Savings bank of this city. The appointment was made by Judge Charles E. Stone in Concord, at the request of Bank Commissioners ...
Source: newspapers

Newspaper Articles (1)

1. October 19, 1901 Spirit of the Age Woodstock, VT

Article from Spirit of the Age, October 19, 1901

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Article Text

SUSPENDED IN 1897. Belknap Savings Bank Has Just Had an Assignee Appointed. Laconia, N. H., Oct. 17.-William H. Plummer has been appointed assignee of the Belknap Savings bank of this city. The appointme nt was made by Judge Charles E. Stone in Concord, at the request of Bank Commissioners John Hatch and George W. Cummings. The Belknap Savings bank. which is one of the oldest institutions in the city. stopped doing business on May 17. 1897. on account of the temporary tying up of much of its resources. and since that time the trustees have been engaged in turning the assets into cash for the benetit of the depositors. many of whom resided here. while others are scattered all over the United States. When the bank ceased doing business the amount due to depositors was $961.273. The first dividend was declared and paid 10 months after the bank suspended business and the second eight months later. Since that time four other dividends have ocen paid. aggregating 70 percent. The first two were 10 percent. the third 20 percent, and the other three 10 percent.