Lebanon Savings Bank - Lebanon, NH

Bank Information

Episode Type: Run → Suspension → Unsure
Bank Type: savings bank
Start Date: September 2, 1896
Location: Lebanon, New Hampshire (43.642, -72.252)

Metadata

Model: gpt-5-mini
Short Digest: 9badc4ce

Response Measures

Full suspension, Books examined

Other: Bank was enjoined by court from receiving or paying deposits (injunction).

Description

Newspapers (Sept 2 and Sept 9, 1896) report large withdrawals/'hard times' and that the bank was enjoined from receiving or paying deposits. The run precipitated a court injunction (suspension). No article states whether the bank later reopened or was closed permanently, so outcome is unsure.

Events (2)

1. September 2, 1896 Run

Cause: Macro News
Cause Details: Hard times (broader economic weakness) led to deposit declines and large withdrawals from the bank
Measures: Trustees sought court injunction to restrain receiving or paying deposits to protect depositors against a run
Newspaper Excerpt: Owing to hard times, deposits have fallen off, and large withdrawals have been made
Source: newspapers

2. September 2, 1896 Suspension

Cause: Government Action
Cause Details: Court injunction restraining the bank from receiving or paying deposits (filed by trustees/court order)
Newspaper Excerpt: was enjoined Tuesday from receiving or paying deposits
Source: newspapers

Newspaper Articles (2)

1. September 2, 1896 Daily Kennebec Journal Augusta, ME

Article from Daily Kennebec Journal, September 2, 1896

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Article Text

NEWS NUGGETS. Brought by the Wires From North. East South and West. Dupont Rouge dock at Havre, with two warehouses containing cotton and lard were burned. Tuesday. Damage. $200,000. The Lebanon Savings Bank of Lebanon. N. H., one of the oldest savings institutions in New Hampshire, was enjoined. Tuesday, from receiving or paying deposits. The depositors number about 3500. Hon. F. C. Churchill, for the trustees. stated that the bank was examined by the bank commissioner. July 20, and had assets $968,155. all considered good. Liabilities, $911,421. Hon. Hilary A. Herbert. United States secretary of the navy. went on board the new British torpedo boat destroyer Desperate on the trial trip of that vessel in the Nore, Tuesday. Mr. Herbert was accompanied by Lieut. Commander W. S. Cowles, naval attache of the United States embassy. It is reported that a movement is no foot among some of the stockholders of the Diamond Match Co., to secure the protection of the courts. They are fearful that in the present complicated state of Moore's speculative affairs their rights may not be safeguarded without the intervention of a receiver. By the burning of the Hanks block at Lawrenceburg, N. Y., Tuesday, two children of John Gray, a tailor, lost their lives. It was only by heroic efforts that the mother, father and two other children were rescued. All were almost suffocated. Mrs. Gray is in a critical condition. The property loss is $10,000. What appears to have been an organized attempt to start a conflagration in Halifax, N. S., was made early. Tuesday. no less than five fires being started in different parts of the city between 2 and 6 o'clock. Among the buildings fired were Halifax Ladies College and Grosvenor and Halifax hotels. Fortunately all the fires were discovered before much headway was made

2. September 9, 1896 The Vermont Watchman Montpelier, VT

Article from The Vermont Watchman, September 9, 1896

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Article Text

SUMMARY OF NEWS. Domestic. EVERY mill in the steel department of the Edgar Thompson works of the Carnegie Company at Braddock, Pa., has suspended work indefinitely. Lack of orders is given as the cause, but seven of the nine blast furnaces at the Carnegie Company Braddock plant are in full blast. The report is current that six of the seven are to be banked soon. THE Banca Popolaras of Providence, R. I., has closed its doors and there is an excited lot of depositors in the Italian colony on Federal Hill. The institution was run by Valentino & Polambo, and the latter is missing. He departed August 29, leaving four children behind. Many Italians are the sufferers. Liabilities and assets are unknown. SENATOR JOHN M. PALMER of Illinois was nominated for president at the convention of gold democrats, held last week at Indianapolis, and ex-Governor Simon B. Buckner of Kentucky for vice-president. Palmer was nominated on the first ballot and Buckner by acclamation. Both are natives of Kentucky. President Cleveland refused to allow his name to be presented to the convention. The platform declares for a gold standard and for a tariff for revenue only. A DOUBLE stream of congratulatory messages flowed in upon Mr. McKinley at Canton last Wednesday. The pleasant comment on his letter of acceptance was unabated and at the same time felicitations over the republican victory in Vermont were coming by wire in large numbers. Major McKinley is naturally pleased in a high degree with the result in Vermont, and has so expressed himself. He is looking forward to another victory in Maine. A letter received by him from J. H. Manley gave assurance that there is every reason to expect a (phenomenal republican majority in Maine. THE Lebanon Savings Bank, Lebanon, N. H., has been restrained by an injunction from receiving or paying out deposits. The trustees make the following statement: The bank was examined on July 25 and had $968,155 in assets, all of which were considered good, with liabilities at $911,421. Owing to hard times, deposits have fallen off, and large withdrawals have been made, and in order to meet these it would have been necessary for the bank to sell its investments at a great loss. The bank is in good condition, and the trustees have acted wisely by protecting its depositors against a run upon the bank. No one need worry, as no person need lose a dollar." EDWARD L. SIMMONS, a nineteen-years-old inmate of the House of Refuge at Baltimore, Md., last week shot and killed B. F. Thomas, one of the keepers, and made his escape. Simmons, who has always been looked upon as one'of the most unruly boys in the House of Refuge, broke into a locker belonging to one of the keepers and stole two fully-loaded revolvers. Armed with these he ran to the main entrance, and pointing one of them at the head of Thomas, who was on duty there, demanded the keys. Thomas refused to surrender them, whereupon the desperate young criminal lowered the weapon and shot the keeper in the lower part of the body. Then he took the keys from his prostrate victim, opened the gate and fled. USE less soap. Too much ruins clothes; rots them; eats the fiber.