13809. Lake Village Savings Bank (Lakeport, NH)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
May 22, 1897
Location
Lakeport, New Hampshire (43.547, -71.463)

Metadata

Model
gpt-5-mini
Short Digest
3ccdbaf2

Response Measures

None

Description

May 22, 1897 article reports a temporary suspension of a few hours (no depositor run) taken to consult with bank commissioners after the nearby Belknap Savings Bank suspended. Later (by Jan 17, 1900) the paper reports Lake Village Savings Bank is a 'closed concern' making arrangements to liquidate — i.e., the bank subsequently closed permanently. No explicit run on Lake Village is described as causing the final closure; initial suspension was precautionary and driven by news of another local bank's suspension.

Events (2)
1. May 22, 1897 Suspension
Cause
Local Banks
Cause Details
Suspended business for a few hours out of fear of a run following suspension of the nearby Belknap Savings Bank; precautionary consultation with bank commissioners.
Newspaper Excerpt
The officers of the bank yesterday afternoon gave out a statement ... fearful of a run following the suspension of the Belknap bank, suspended business for a few hours to enable them to consult with the bank commissioners in regard to the situation.
Source
newspapers
2. January 1, 1898* Other
Newspaper Excerpt
The Lake Village Savings bank of Lakeport, another closed concern, is making arrangements to liquidate its indebtedness as soon as its securities can be disposed of advantageously. The Lake Village bank was closed a little more than a year ago.
Source
newspapers

Newspaper Articles (2)
1. May 22, 1897 The Evening Tribune Pawtucket, RI
Article from The Evening Tribune, May 22, 1897

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Article Text

PRONOUNCED INCORRECT. OFFICIALS OF LAKEPORT, N. H BANKON THE REPORTED FAILURE Fearful of a Run the Bank Officials Temporarily Suspended For Consultation. Laconia, N. H., May 22.-The report of the temporary suspension of the Lake Village Savings bank at Lakeport, which was prevalent for a few days, is promounced by the bank officials to be incorrect. The report followed close upon the suspension of the Belknap Savings bank in this city, and the uneasy feeling among the Lake Village Savings bank depositors was induced by the fact that depositors wishing to withdraw their money found the bank closed. The officers of the bank yesterday afternoon zave out a statement setting forth certain facts explanatory of the temporary elosing of the bank. The officers of the bank, fearful of a run following the suspension of the Belknap bank, suspended business for a few hours to enable them to consult with the bank commissioners in regard to the situation. The officers decided to continue the bank. They hope, unless there is a heavy run, to be able to meet all requirements which may be made upon them. The customary notice of withdrawals will be Insisted upon in all cases where large sums are asked for by the depositors. At the present time there is over $5000 of ready cash on hand, which is more than has been paid out for several months. There have been several large deposits made recently. The bank has not an extremely large amount of Western stocks.

2. January 17, 1900 The Providence News Providence, RI
Article from The Providence News, January 17, 1900

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Article Text

BELKNAP SAVINGS BANK TO PAY A DIVIDEND OF 10 PER CENT. Laconia. Jan. 17.-The trustees of the Belknap Savings Bank of this city which closed its doors May 15, 1897, announce that a dividend of ten per cent. will be paid to depositors, February 15. The bank has already paid three dividends, aggregating 50 per cent. of the amount due depositors. and it is said the outlook for rapid liquidation is favorable. At the time of the suspension, the institution owed $961,273.95. The Lake Village Savings bank of Lakeport, another closed concern, is making arrangements to liquidate its indebtedness as soon as its securities can be disposed of advantageously The Lake Village bank was closed a little more than a year ago.