13834. New Hampshire Trust Company (Manchester, NH)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
July 23, 1893
Location
Manchester, New Hampshire (42.996, -71.455)

Metadata

Model
gpt-5-mini
Short Digest
9cf7a8df

Response Measures

None

Description

Multiple contemporaneous articles (July 23–27, 1893) report Bank Commissioner Lyford serving papers closing the New Hampshire Trust Company on July 23 as a precautionary suspension. Subsequent reports state the company's doors made an assignment (assignment/receiver) later that week. No explicit bank run is described in the articles; the initial action was by the state bank commissioner (government action) and the firm moved into assignment/receivership, consistent with a suspension leading to closure.

Events (3)
1. July 23, 1893 Suspension
Cause
Government Action
Cause Details
Bank Commissioner James C. Lyford served papers closing the bank's doors as a precautionary measure to protect depositors and creditors amid extraordinary calls for money; described as a state-imposed suspension rather than depositor run.
Newspaper Excerpt
Late Saturday evening Bank Commissioner Lyford served papers closing the doors of the New Hampshire Trust Company of this city ... it is expected the suspension will be only temporary.
Source
newspapers
2. July 27, 1893 Other
Newspaper Excerpt
The doors of the New Hampshire Trust company at Manchester ... made an assignment.
Source
newspapers
3. July 27, 1893 Receivership
Newspaper Excerpt
The doors of the New Hampshire Trust company at Manchester, the largest financial institution in the state, made an assignment.
Source
newspapers

Newspaper Articles (15)
1. July 24, 1893 The Record-Union Sacramento, CA
Article from The Record-Union, July 24, 1893

Click image to open full size in new tab

Article Text

A Bank's Doors Closed. MANCHESTER (N. H.), July 23.-Late Saturday evening Bank Commissioner Lyford served papers closing the doors of the New Hampshire Trust Company of this city, after a full consultation with the officers of the institution, and for the protection of its depositors and creditors. It is expected that the suspension will be only temporary. The Bank Commissioner said to-night that it is only a precautionary measure to meet an emergency like the present, where a solvent institution is unable to meet extraordinary calls for money paid in. The capital of the concern is $500,000.

2. July 24, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, July 24, 1893

Click image to open full size in new tab

Article Text

TRUST COMPA NY CLOSED. A Precautionary Step to Protect the Depositors. MANCHESTER, N. H., July 23.-Late Saturday evening Bank Commissioner Lyford served papers closing the doors of the New Hampshire Trust Company of this city, after a full consultation with the officers of the institution and for the protection of its depositors and creditors. It is expected the suspension will be only temporary. The Bank Commissioner said to-night that it is only a precautionary measure to meet an emergency like the present, where a solvent institution is unable to meet the extraordinary calls for money. The paid-in capital of the concern is $500,000.

3. July 24, 1893 New-York Tribune New York, NY
Article from New-York Tribune, July 24, 1893

Click image to open full size in new tab

Article Text

FURTHERFAILURESREPORTED SUSPENSION OF A BIG REAL ESTATE AND BANKING FIRM IN TEXAS. A STREET RAILWAY COMPANY IN TROUBLERUN ON A BANK AT HOMESTEAD-C. W. DEPAUW'S ASSIGNMENT. Dallas, Tex., July 23.-Murphy & Boland. the nrost widely known and extensive real estate agents and investment bankers in Texas. suspended yesterday afternoon. Mr. Murphy said to a reporter: "The firm of Murphy & Boland has suspended and will be wound up. Its indebtedness will be paid off as soon as the assets can be realized." The Murphy-Boland Land Investment Company has been organized in place of the Murphy & Boland Company. No statement of assets and liabilities of the firm can yet be obtained. The concern had almost a montopoly of the agency and rental business of the town. Estates and individuals placed their property with it and It was rated more solld than any bank in the city. The firm had purchased upon Its own account a great deal of real estate, which has materially shrunk in value. Salt Lake City, Utah, July 23.-The Burton-Gardner Company, one of the largest lumber firms and wire fence manufacturers doing business here, made an assignment yesterday. Liabilities, $100,000: assets about the same amount. The failure is due to slow collections resulting from the paralyzed condition of Western trade since the silver depression. Homestead, Penn., July 23.-A run was made on the First National Bank of Homestead yesterday. A rumor that the bank would close alarmed the Hungarlans employed at the Carnegie Steel Works and other depositors. Anticipating the demand, the bank prepared to pay all claims, and remained open for this purpose until a late hour last night The business men of the town made large deposits, Instead of withdrawing their money. About $100,000 was paid out yesterday. Additional funds to the amount of $58,000 were received by the bank last night, while leading business men added large amounts to maintain confidence. It is said that there is no further danger. Chicago, July 23.-Fifty creditors of the Armstrong Company, manufacturers of uniforms and regalia, who failed recently, held a meeting yesterday at which It was decided to reject the firm's offer of 25 per cent, to be paid in four, eight and twelve months. Mr. Armstrong was present, and explained that the assets of the firm were $134,000, a shrinkage from the supposed total, and the liabilities, $132,000, an amount greater than had been supposed. A committee was appointed to investigate the affairs of the company and to decide what the firm could pay. Indianapolis, July 23.-Charles W. Depauw's assignment was not unexpected here. In fact, It was looked for weeks ago, at the time of the $1,000,000 failure of the Premier Steel Works. This is the largest failure in Indiana for years. Mr. Depauw has $30,000 stock in the Bank of Commerce here, but the cashier said last night he did not expect trouble. Washington C. Depauw's wealth was estimated at about $10,000,000. Of this estate Charles W. received a one-fourth interest, which is yet undivided. The failure will be a severe blow to the Methodist institutions In Indiana, which were fostered by Washington C. Depauw. There has been deeded to the Union Trust Company of this city, as assignee, property ordinarily valued at $1,800,000 for liabilities which are estimated at $800,000. Toledo, Ohio, July 23.-A statement has been made by the assignee of the Fostoria Brass and Iron Works, one of ex-Secretary Foster's enterprises which went under in the recent crash. The statement places the assets at $147,694 and the liabilities at $191,400, a much better showing than was expected. Manchester, N. H., July 23.-Late Saturday evening Bank Commissioner James C. Lyford served the papers closing the doors of the New-Hampshire Trust Company, of this city. This action was taken after full consultation with the officers of the institution and for the protection of its depositors and creditors. The proceedings were similar to those pursued in the case of the Security Trust Company, of Nashua, with the expectation that the suspension of business will be only temporary. In an interview, Mr. Lyford says: "There is no occasion for alarm on account of this action taken by the Pank Commissioners, either among depositors of the New-Hampshire Trust Company and the people holding its securities, or among people who are depositors of the savings banks of the State. It operates as a stay, enabling the institution to realize cash from Its assets without sacrificing them in a falling market."

4. July 24, 1893 The Herald Los Angeles, CA
Article from The Herald, July 24, 1893

Click image to open full size in new tab

Article Text

A STARTLING THEORY. THE SINKING OF THE VICTORIA DUE TO A CONSPIRACY. Irish Revolutionists Claim the Honor of Having Sent the British Battle Ship to the Bottom of the Sea. NEW YORK, July 23.-A new and startling theory is advanced as to the cause of the sinking of the British battleship Victoria by the Camperdown. Irish revolutionists claim the sinking was the result, not of accident, but a deep laid plot, which has for its object the destruction, if possible, of the British navy and the infliction of dire injury on England in every quarter of the globe. A circular signed "The Executive," a copy of which a morning paper succeeded in obtaining, and which has been promulgated in Irish Nationalist circles, claims for the revolutioniete the honor of striking a heavy blow to England. Referring to Admiral Tryon's maneuver, the circular, which bears date July 10, says: "Admiral Tryon is not guilty of the loss of the Victoria. He is a victim of the sins of his country. The maneuver which he proposed the fleet should perform would have been successfully carried out had our brave brothers in England's service not been equal to the opportunity and given themselves a willing sacrifice for the cause of Ireland. "We have eworn brothers now on almost every English warship. We have them in English regiments, at home and abroad, and wherever the English flag our floate there also may men be found. We are now in a position which we never before attained of striking England in every corner of the globe. Forward, brothers; the fight must go on unceasingly; no opportunity must be lost of striking England, nor must we hesitate to use against her whatever science and inventive genius may place in our hands." New Hampshire Trust Company Closed. MANCHESTER, N. H., July 23.-Late Saturday evening Bank Commissioner Lyford served papers closing the doors of the New Hampshire Trust company of this city, after a full consultation with the officers of the institution, and for the protection of its depositors and creditors. It is expected the suspension will be only temporary. The bank commissioner said tonight it is only a precautionary measure to meet an emergency like the present, where a solvent institution is unable to meet the extraordinary calls for money. The paid-in capital of the concern is $500,000.

5. July 24, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, July 24, 1893

Click image to open full size in new tab

Article Text

New Hampshire Trust Co.'s Doors Closed MANCHESTER, N. H., July 23.-Late Saturday evening Bank Commissioner Lyford served papers closing the doors of the New Hampshire Trust Company, in this city, after a full consultation with the officers of the institution and for the protection of its depositors and creditors. It is expected that the suspension will be only temporary. The bank commissioners said tonight that it is only a precautionary measure to meet emergencies like the present where a solvent institution is unable to meet exteaordinary calls for money.

6. July 24, 1893 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, July 24, 1893

Click image to open full size in new tab

Article Text

BIG TRUST COMPANY FAILS. One of the Heaviest Institutions of Its Kind in New Hampshire Gone Up. MANCHESTER, N. H., July 23.-Late Saturday evening Bank Commissioner James C. Lyford served the papers closing the doors of the New Hampshire Trust Company. of this city, one of the heaviest institutions of the kind in the State. This action was taken after full consultation with the officers of the institution and for the protection of its depositors and creditors. The proceedings are similar to those pursued in the case of the Security Trust Company of Nashaua, with the expectation that the suspension of business will be temporary. The company has a paid-in capital of $500,000.

7. July 25, 1893 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, July 25, 1893

Click image to open full size in new tab

Article Text

MORE BANKS IN TROUBLE. New Hampshire Concerns Yield to the Pressure. TWO IN MANCHESTER FORCED TO SUSPEND PAYMENT. One Is the Bank of the Commonwealth With Assets and Liabilities of About $650,000-The Officers of the Other, the Bank of New England, Say Depositors Will Not Lose - Savings Banks Demand Notice of Withdrawals. MANCHESTER, N. H., July 24.-The National Bank of the Commonwealth will suspend payment tomorrow morning. This action was determined on at a meeting of the directors tonight. The national comptroller was notified. The bank was the youngest of the six national banks here. It had risen to be second in the amount of deposits. Its assets and liabilities are about $650,000; deposits, $310,529; capital stock, $200,000. The suspension of the New Hampshire Trust Company and the Bank of New England precipitated the Commonwealth's suspension. The Bank of New England, which suspended this afternoon, had a capital of $100,000. Its officers say the depositors will lose nothing. The savings banks of the city have voted to demand the 90 days notice authorized by law on all withdrawals of over $100. The remaining national banks will stand by each other, and establish a clearing house for mutual protection.

8. July 27, 1893 Connecticut Western News North Canaan, Salisbury, Canaan, CT
Article from Connecticut Western News, July 27, 1893

Click image to open full size in new tab

Article Text

The New Hampshire Panic. MANCHESTER, N. H., July 25.-The Nalional Bank of the Commonwealth suspended payment this morning. This action was determined on at a meeting of the directors last night, and the national comptroller was notified. Its assets and liabilities are about $625,000; deposits, $310,529: capital stock, $200,000. The suspensions of the New Hampshire Trust company and Bank of New England precipitated the Commonwealth's suspension.

9. July 27, 1893 The State Republican Jefferson City, MO
Article from The State Republican, July 27, 1893

Click image to open full size in new tab

Article Text

THE EAST. FIRE destroyed property valued at $800,000 at Long Island City, L. I., and hundreds of families were homeless as a result of the blaze. IN a coal mine at Edwardsville, Pa., an explosion fatally injured William Jones. Martin Brennan, B. Wilson and Patrick Malai. THE run from Southampton to New York was made by the American line steamship Paris in 6 days 9 hours and 80 minutes, breaking all previous records. MISSES MABEL 11 ALLETT and Elizabeth Walters, of New York city, were drowned while bathing in the surf at Shell Bank. Long Island. IN the National league the percentages of the baseball clubs for the week ended on the 22d were as follows: Philadelphia, .649; Boston, .639; Pittsburgh, 1576; Cleveland, .568; Brooklyn, .507; Baltimore, .471; Cincinnati, .464: St. Louis, .468; New York. 444; Chicago, .443; Washington, .403; Louisville, .361. THE doors of the New Hampshire Trust company at Manchester, the largest financial institution in the state, made an assignment. AN explosion of dynamite in New York killed Marie A. Posey and her little girl and two more of her children and Mamie McAdam were fatally injured. MRS. W. C. CONNELLY and her adopted daughter were fatally burned while burning rubbish at Pittsburgh, Pa. AT Belvidere, N. J., the Oxford Iron & Nail company failed for $225,000. EAST of Deer Island, Mass., an inknown yacht was capsized and John W. Johnson, Albert T. Scott and Joseph Murphy were drowned.

10. July 27, 1893 The Manchester Journal Manchester, Bennington, VT
Article from The Manchester Journal, July 27, 1893

Click image to open full size in new tab

Article Text

Vermont has suffered seriously from the failure of western investment companies and one home company, and now New Hampshire is having her toro at it. The Security Trust Co. of Nashus and New Hampshire Trust Co. of Manchester have been compelled to stop business. Two large national banks in the latter city have also suspended, and the savings banks have voted to demand the 90 days notice authorized by law, on large deposits.

11. July 27, 1893 River Falls Journal River Falls, WI
Article from River Falls Journal, July 27, 1893

Click image to open full size in new tab

Article Text

# THE EAST. THROUGH the death of an uncle in India Mrs. Conrad Veilham, of Tonawanda, N. Y., has fallen heir to $4,000,000. PITTSBURGH advices say that the plate glass trust has collapsed and that the many idle factories throughout the country will resume operations. THE late Anthony J. Drexel's will was probated in Philadelphia. It shows that he left about $30,000,000. NAPHTHA exploded in the sweat-band factory of J. D. Campbell in Brooklyn, N. Y., killing J. D. Campbell and his son and John and Jacob Weiss, brothers. THE death of Charies F. Washburn, head of the barbed wire firm of Washburn & Moen, occurred at Worcester, Mass., of apoplexy, aged 66 years. ANOTHER confession has been made by P. J. Gallagher, this time reiterating the guilt of Dempsey in the Homestead (Pa.) poisonings. FIRE destroyed property valued at $800,000 at Long Island City, L. I., and hundreds of families were homeless as a result of the blaze. In a coal mine at Edwardsville, Pa., an explosion fatally injured William Jones, Martin Brennan, B. Wilson and Patrick Malai. THE run from Southampton to New York was made by the American line steamship Paris in 6 days 9 hours and 30 minutes, breaking all previous records. MISSES MABEL HALLETT and Elizabeth Walters, of New York city, were drowned while bathing in the surf at Shell Bank, Long Island. In the National league the percentages of the baseball clubs for the week ended on the 22d were as follows: Philadelphia, .649; Boston, .639; Pittsburgh, .576; Cleveland, .568; Brooklyn, .507; Baltimore, .471; Cincinnati, .464; St. Louis, .463; New York, .444; Chicago, .443; Washington, .403; Louisville, .361. THE doors of the New Hampshire Trust company at Manchester, the largest financial institution in the state, made an assignment. AN explosion of dynamite in New York killed Marie A. Posey and her little girl and two more of her children and Mamie McAdam were fatally injured. MRS. W. C. CONNELLY and her adopted daughter were fatally burned while burning rubbish at Pittsburgh, Pa. AT Belvidere, N. J., the Oxford Iron & Nail company failed for $225,000. EAST of Deer Island, Mass., an unknown yacht was capsized and John W. Johnson, Albert T. Scott and Joseph Murphy were drowned.

12. August 10, 1893 Pawtucket Tribune Pawtucket, RI
Article from Pawtucket Tribune, August 10, 1893

Click image to open full size in new tab

Article Text

OUTLOOK IS BRIGHTER Missing Insurance Securities" Found. A COMMISSIONER SCORED. A Local Newspaper Sharply-Criticises His Business Methods. MANCHESTER, N H., Aug. 10. - The situation today financially shows but little change, but that change is all in the direction of benefit to the People's Fire Insurance company. They have received notification that 58 shares of the First National bank of Marion, Ind., reported missing, were all right, as was the case with a collateral note of $4400 in the hands of Nashua parties. This makes $10,200 more accounted for, and with the $24,400 found previously places the company $35,000 better than was alleged by Mr. Linehan. The Evening Mirror, which has hitherto been rather inclined to make the most of Treasurer Morrill and President Moore's alleged mismanagement, contains a bitter attack on Insurance Commissioner Linehan's report. It says: Sharp Words. If any president, treasurer or director of the People's Fire Insurance company has embezzled its funds or otherwise betrayed the trust reposed in him. we hope he will be punished without mercy. At the same time we see no reason why the business of the company should be injured or its stockholders damaged to gratify the spite or the itch for notoriety of anybody. Approaching the subject with this feeling, we have made such examination as we could, and, having made it. we are bound to say that, in our judgment, the report of Insurance Commissioner Linehan, which we published Monday, is outrageously unfair. While it may not contain an absolute falsehood, it so distorts and groups the facts that they are made to take the place of falsehoods and convey a wrong impression, which is very injurious to the company. To the average reader it says that the company has been robbed of $400,000, which is a gross exaggeration, and that it is nearly bankrupt, which is not true. It is true that the tables are accompanied by some explanatory remarks. but they are SO worded as not to better the statistical showing, and they are of little account any way, because people look. and have a right to look, at the exhibit of assets and liabilities when they desire to ascertain the standing of an insurance conpany. The fact is, as stated to us by one of the gentlemen who helped make the examination, that more than $100,000 worth of securities, about which there is not the slightest question, were treated as "missing" by the commissioner because he could not put his hand upon them, and the actual amount of the assets of the company is about $750,000 instead of $604,983.09, and the "deficit" is not one-half what it is stated to be. The CO1 cluding sentence of the report is, to say the least, in wretched taste, and enough to bring the whole into disrepute with candid people. Examiner Gatchell of the Commonwealth bank yesterday was Paid Several Thousand Dollars by parties who had notes in the bank. In response to the query as to whether the New Hampshire Trust company would probably suffer any impairment of its capital of $500,000,-President H. D. Upton said: "The company's affairs were examined in June last by a committee of the directors, consisting of ex-Governor Tuttle, Henry Allison of Fitchburg and William P. Chamberlain of Keene. The accounts were also audited by the regular auditors of the company, and the state bank commissioners also made their examination at about the same time. The findings of these three sets of examiners were substantially the same, and showed the capital to be unimpaired, and that the company had a surplus of somewhere from $40,000 to $60,000. "The company has met with no losses of any serious importance as growing out of the present complications in Manchester, and its conditions, barring the suspension, is in no particular different from what it was 60 days ago. If the capital stock was intact in June last it is so today." I

13. January 5, 1894 Pawtucket Tribune Pawtucket, RI
Article from Pawtucket Tribune, January 5, 1894

Click image to open full size in new tab

Article Text

Talk of a Receiver. MANCHESTER, N. H., Jan. 5.-The New Hampshire Trust company sent out notices to holders of its debenture bonds asking them to consent to the exchange of the present bonds for a new issue of 4 per cent ones. If the bondholders refuse to accede to this request, the circular says that the company will have to go into the hands of a receiver for liquidation.

14. January 5, 1894 The Providence News Providence, RI
Article from The Providence News, January 5, 1894

Click image to open full size in new tab

Article Text

The New Hampshire Trust Company. MANCHESTER, N. H., Jan. 5.-The New Hampshire Trust company sent out notices, to holders of its debenture bonds asking them to consent to the exchange of the present bonds for a new issue of 4 per cent ones. If the bondholders refuse to accede to this request, the circular says that the company will have to go into the hands of a receiver for liquidation.

15. December 31, 1917 The Fargo Forum and Daily Republican Fargo, ND
Article from The Fargo Forum and Daily Republican, December 31, 1917

Click image to open full size in new tab

Article Text

W. A. SCOTT, WELL KNOWN PIONEER FARGO CITIZEN, TAKEN BY DEATH Prominent Citizen III Two Weeks-Funeral on Wednesday RED. RESIDENT OF FARGO 30 YEARS Thirty-third Degree Masons to Be In Charge of Obsequies William Abial Scott, prominent in financial circles of Fargo, founder of the North Dakota State Fair Association of Fargo, and for thirty years connected with the growth and development of Fargo and the state, is dead at his home, 612 Eighth street south. Death occurred at 12:30 o'clock this morning after an illness of two weeks. He was taken seriously two weeks ago last Thursday, and was conscious to within a few moments of the end. Both sons, Lieut. W. of and Wright Albert Scott D. Scott Fort of Sheridan, Fargo, and III., Mrs. Scott, were present at the bedside when the end came. Body to Lie in State. The body will lie in state at the Masonic temple, of which he was a director at the time of his death, on Wednesday, and will be taken to Minneapolis that evening for cremation. It was his request that there be no service. Friends will simply call at the temple and view the remains. Thirty-third degree Masons will be in charge. Mr. Scott's business career in North Dakota dated from 1888, when he was sent to Fargo by the New Hampshire Trust company of Manchester, New Hampshire, from Fort Scott, Kansas. He served until the failure of the company, which occurred during the financial panic of 1893. He was. then employed to look after the business of the defunct company in this section of the country, a work which occupied his at: