13877. Somersworth Savings Bank (Somersworth, NH)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
February 20, 1878
Location
Somersworth, New Hampshire (43.262, -70.865)

Metadata

Model
gpt-5-mini
Short Digest
b11d0b45

Response Measures

None

Description

Multiple contemporaneous newspaper reports (Feb 20–28, 1878) state the Somersworth Savings Bank has suspended and that the bank commissioner ordered suspension because Boston parties owing the bank failed. No article mentions a depositor run or a reopening; permanence of closure is not reported here, so classification as suspension_closure is conservative but noted as somewhat uncertain.

Events (1)

1. February 20, 1878 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Failure of Boston parties (debtors) who owed the Somersworth Savings Bank a considerable sum, prompting the commissioner to order suspension.
Newspaper Excerpt
On account of the failure of Boston parties owing the Somersworth Savings Bank a considerable sum, the bank commissioner ordered the suspension of payments.
Source
newspapers

Newspaper Articles (6)

Article from Public Ledger, February 20, 1878

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Article Text

Bank Ruspension. it son GREAT FALLS, N. H., February 20.On account of the failure of Boston parties owing the Somerworth Savings Bank a considerable sum, the bank commissioner ordered the suspension of payments. The trustees believe there will be no uliimate loss to depositors.


Article from The Rock Island Argus, February 20, 1878

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Article Text

NEW HAMPSHIRE. GREAT FALLS, N. H. Feb. 20.-0n account of the failure of Boston parties owing the Somereworth Savings bank a considerable sum, the banks commissioners have ordered a suspension of payments. The trustees believe there will be no ultimate loss to depositors.


Article from The New Orleans Daily Democrat, February 21, 1878

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Article Text

Failures. GREAT FALLS N. H., Feb. 20.-The SomersWorth Savings Bank has suspended. The trustees believe the depositors will sustain no ultimate loss. o MONTREAL, Feb. 20.-Dosmatreau, Lamourean & Creviere. land speculators, have falled. Liabilities $500,000. Their assets consist of real estate, of which there is great shrinkage. SPRINGFIELD, Mass.. Feb. 20.-F. R. Chapman, of Holyoke. cutlery manufacturer, has failed. Liabilities $119,000. NEW YORK, Feb. 20.-Sylvester Napew. of Jersey City. after placing all his real estate in other hands, overdrew his bank account $11,000, contracted debts for $11,000. and absconded.


Article from The Daily Gazette, February 22, 1878

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Article Text

THE Somersworth, New Hampshire, | | Savings Bank, has suspended; also, the Newport, Maine, Savings Bank. -


Article from The Middlebury Register, February 22, 1878

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Article Text

The Somersworth, N. H., savings bank has suspended on account of the failure of Boston parties. The number of Quakers in England and Wales is rapidly falling off. A few years "go they were estimated at 100,000. The Nez Perces Indians seem to be on the war path. Massacres of miners and others are reported from Deadwood. C.C. Frost, the temperance worker. has induced 1,305 persons of Granville, N. Y., to sign the total abstinence pledge. Bertha Von Hillern's health is said to be giving way under her exhaustive feats of pedestrianism, but she is growing rich. James Gordon Bennett is now reported to be engaged to a brilliant French countess, of old family and large possessions. The number of Chinamen who arrived at San Francisco in January was only 228, while 882 returned to their native land. A ten-year-old boy at Mansfield, Mass., and one of seven years at Bristol, Conn., have been killed by snowballs within a short time. Last week H. Bean, a young married man of Manchester. N. II., eloped with Mrs. Plumpton, wife of the overseer of the Amoskeag Corporation. The Troy Times is startled just because the poor expenses of Rennselaer county for the past year foot up $210,307.82 ; Troy's share being $155,102.40. Foreigners are rapidly learning American financial methods. Herr Koch, a banker of Metz, has lit out," leaving debts of 150,000 marks and assets of 16 marks. Senator Jones of Nevada is a thorough business man. In addition to managing his mining interests, he is now making fifty tons of ice a day with a new machine in New Orleans. Last Sunday, Warren Lang of Denmark, Me., fourteen years old, committed suicide by hanging in his father's barn. No cause assigned, some being of opinion that it was accidental. The New York postoffice officials report that more valentines passed through that office Thursday than have been sent in years. It required a large force of employees to distribute them. Joseph Faulkner, who has just!died at Windsor, N.S., at the age of 103 years, was one of the crew of the British frigate Shannon when she fought her celebrated battle with the Chesapeake. Birds killed on the western praries and packed with paper in barrels, without freezing or any other artificial process of preservation, are sent to England by every steamer, and arrive in excellent condition. The body of Mrs. Ben Pitman was cremated at Dr. Lemoyne's furnace at Washington, Penn. The job was done up in short order, with no very funereal ceremonies accompanying. All that was left of her form was about four pounds of ashes. The paymasters' car on the N. Y. Central railroad passed through Albany, last Sunday, loaded with silver, with which to pay the employes of the road. The saving to the company is large. It is not said how the employes of the road liked it. A young man in Cohoes, N. Y., desiring to salute a sleigh-ride party with a pyrotechnical display, last Sunday morning, lighted some fireworks and hastened to his window. Before he could open it, however, an explosion occurred which [blew out the window sash completely. John Guniburger, a bar-keeper, in


Article from The Manitowoc Pilot, February 28, 1878

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Article Text

THE EAST. AT a meeting of the Socialistic labor party, in New York on the 24th inst., the red flag of the commune was displayed, and resolutions were adopted, denouncing a standing army, and the existence of armories in cities. One speaker said: "Only let the army be abolished, and labor will make such a move as will insure its rights, and render it equal with capital." THE Steamship City of Brussels, from Liverpool, with $700,000 in gold, arrived on the 25th inst. W. A. RANSOM & Co., one of the oldest New York firms in the shoe trade, made an assignment on the 23d. Liabilities $250,000. PROF. ALBERT SMITH, of Boston, died at Peterboro, New Hampshire, on the 22d inst. MERIDEN, Conn., was flooded on the 22dinst., owing to copious rains. The flats near the harbor, and State, Pratt, and a portion of Main street were submerged. The silver plate works had to suspend operations, and a train was thrown from the track, owing to a wash out. No casualties. THE international base ball association at the session in Buffalo, N. Y., on the 21st inst., awarded the prize pennant to the Tecumsehs; of London, Ontario. WALTER DONALDSON & Co., of New York, coal agents, have failed. Liabilities, $100,000. ON account of the failure of Boston parties owing the Somersworth Savings Bank, of New Hampshire, a large sum, the bank commissioner has ordered the suspension of payments. The trustees believe that there will be no loss to the depositors. A SERIOUS affray occurred on the 18th inst, in Princeton, New Jersey college, between the sophomores and eight freshmen, in which one of the sophomores was dangerously hurt. ON the 19th inst., J. J. Belden was reelected mayor of Syracuse, N. Y., by a plurality of 1,056 over Yates, workingman's candidate, and Brown, democratic candidate.