Nashua Bank - Nashua, NH

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 1, 1895*
Location: Nashua, New Hampshire (42.765, -71.468)

Metadata

Model: gpt-5-mini
Short Digest: 8e218952

Response Measures

None

Description

Article (1907-12-19) describes the Nashua Bank as 'defunct' and that it shut its doors a dozen years ago (≈1895) as a result of the failure of the Globe Savings Bank of Chicago. The 1907 piece reports the receiver paying a final dividend. No run is described; the bank had closed and been in receivership/liquidation. I inferred the ~1895 closure date from 'a dozen years ago.' Bank type not stated in article.

Events (3)

1. January 1, 1895* Suspension

Cause: Correspondent
Cause Details: Closed (shut its doors) around 1895 reportedly as a result of the failure of the Globe Savings Bank of Chicago (a correspondent/connected institution).
Newspaper Excerpt: shut its doors a dozen years ago as a result of the failure of the Globe Savings Bank of Chicago.
Source: newspapers

2. December 19, 1907 Other

Newspaper Excerpt: In other words the general depositors get 108% per cent. of the amount they had in the institution... Today Receiver Farley began paying a final dividend to depositors of 5½ per cent.
Source: newspapers

3. December 19, 1907 Receivership

Newspaper Excerpt: Receiver Farley began paying a final dividend to depositors of 5½ per cent. The final payments amounts to $40,000, bringing the total paid depositors since the bank ceased active business, $913,242.
Source: newspapers

Newspaper Articles (1)

1. December 20, 1907 Daily Kennebec Journal Augusta, ME

Article from Daily Kennebec Journal, December 20, 1907

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Article Text

SUCCESSFUL LIQUIDATION. Depositors of Defunct Nashua Bank Get Nearly 109 Per Cent. Nashua, N. H., Dec. 19.- One of the most successful liquidations of a closed bank in financial records has just been completed by W. A. Farley of the New Hampshire Banking Co., of this city, which shut its doors a dozen years ago as a result of the failure of the Globe Savings Bank of Chicago. Today Receiver Farley began paying a final div. idend to depositors of 5½ per cent. The final payments amounts to $40,000, bringing the total paid depositors since the bank ceased active business, $913,242. In other words the general depositors get 108% per cent. of the amount they had in the institution, the percentage above 100 representing partial interest on their money. The president of the New Hampshire Banking Co. was the late Solomon Spalding, father of Charles Spalding, treasurer of the defunct Globe Savings Bank of Chicago.