Savings Bank - Tolland, CT

Bank Information

Episode Type: Suspension → Reopening
Bank Type: savings bank
Start Date: December 31, 1880
Location: Tolland, Connecticut (41.871, -72.369)

Metadata

Model: gpt-5-mini
Short Digest: 4f65c17b9085f2e2

Response Measures

None

Description

Article notes that an injunction (court action) had been placed on the Tolland Savings Bank and was removed December 31; there was no loss to depositors except interest. This implies a temporary legal suspension that was lifted (reopening). No run is described.

Events (1)

1. December 31, 1880 Suspension

Cause: Government Action
Cause Details: A court injunction had been placed on the bank and was removed on December 31; injunction temporarily restricted the bank's operations.
Newspaper Excerpt: The injunction was removed from the Tolland Savings bank December 31st, there being no loss, except interest, to depositors.
Source: newspapers

Newspaper Articles (1)

1. January 7, 1881 Morning Journal and Courier New Haven, CT

Article from Morning Journal and Courier, January 7, 1881

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Article Text

of the deposits are pledged to remain with the bank for eighteen months, and there is cash on hand sufficient to meet all other liabilities." The injunction was removed from the Tolland Savings bank December 31st, there being no loss, except interest, to depositors. The receiver of the Thompsonville Savings bank expects to close his accounts in the spring, the loss to the depositors being about 3 per cent. Not much change during the year in the condition of the Townsend Savings bank of New Haven and the Willimantic Trust company. The commissioners allude with gratification to the large increase of small deposits in the savings banks. It indicates a healthful and prosperous state among the laboring classes. The number of State banks remains unchanged. Their total assets amount to $3,533,368.65. Capital stock, $1,350, 000 deposits, $1,520,191.03. There has been no change in the number or character of the trust companies during the year. The assets of those doing a banking business amount to $3,968,860; of those dealing in real estate securities, $4,893,426.