1785. Stonington Savings Bank (Stonington, CT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
December 16, 1911
Location
Stonington, Connecticut (41.336, -71.906)

Metadata

Model
gpt-5-mini
Short Digest
8b01595f

Response Measures

None

Description

No newspaper article describes a depositor run; instead the bank was placed in receivership following litigation (Pendleton et al. v. Stonington Savings Bank). A temporary receiver was in place by Dec 1911 and a permanent receiver was appointed Jan 6, 1912. Receiver accounts were accepted and the bank's assets were being wound up; by 1913 the institution has not done business for several years and was making settlement with depositors. Classified as suspension_closure (suspension via court receivership leading to permanent closure).

Events (6)
1. December 16, 1911 Suspension
Cause
Government Action
Cause Details
Court litigation (Moses A. Pendleton et al. v. Stonington Savings Bank) resulted in appointment of a temporary receiver and hearings for a permanent receiver.
Newspaper Excerpt
In the case of Pendleton et ux. VS. Stonington Savings bank, an order for a hearing on appointment of permanent receiver was granted.
Source
newspapers
2. December 20, 1911 Suspension
Cause
Government Action
Cause Details
Temporary receiver (D. Burrows Spalding) in place and court hearing scheduled to appoint permanent receiver in response to the lawsuit.
Newspaper Excerpt
Notice has been issued by George E. Parsons... and D. Burrows Spalding, temporary receiver of the Stonington Savings bank, of a hearing to be had before the court on the matter of the appointment of a permanent receiver
Source
newspapers
3. January 6, 1912 Receivership
Newspaper Excerpt
S. Burrows Spalding has been appointed permanent receiver of the Stonington Savings bank. Four months has been allowed for the presentation of claims and the sale of real estate.
Source
newspapers
4. May 25, 1912 Other
Newspaper Excerpt
In Moses A. Pendleton and others vs. Stonington Savings bank, the report of receiver was accepted and a change in the order concerning sale of property and extending time for sale was granted.
Source
newspapers
5. January 4, 1913 Other
Newspaper Excerpt
Order extending time for sale of real estate was granted and acceptance of receiver's report were ordered in Moses A. Pendleton and others vs. Stonington Savings bank. The Stonington Savings bank is at present in the hands of receivers. Attorney Brennan explained that all the assets of the bank had been converted into cash except two pieces of property in New Haven.
Source
newspapers
6. December 20, 1913 Other
Newspaper Excerpt
The Stonington Savings bank is soon to make a settlement with depositors, and the affairs of the concern will soon be finished up. The institution has not done business for several years, but depositors still have money due them.
Source
newspapers

Newspaper Articles (11)
1. December 16, 1911 Norwich Bulletin Norwich, CT
Article from Norwich Bulletin, December 16, 1911

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Article Text

SHORT CALENDAR MATTERS IN SUPERIOR COURT. Two Motions to Set Aside Verdicts Were Argued. Of the 20 matters on the short calendar list in the superior court Friday, besides the uncontested divorces, all but five were heard, as follows: The motion of the city of New London to set aside the verdict of $2,750 recently returned by a jury in the superior court against the city and in favor of Miss Eunice H. Allen, was argued, and the judge took the papers. A like motion in the case of Wellington Allen vs. the Connecticut Co., in which the Connecticut Co. asks that the verdict of $3,000, recently awarded Allen by a jury, and the judge took the papers. It is interesting to note that in the last three cases tried the jury has found for the plaintiff, and motions to set aside have followed. In the case of Pendleton et ux. VS. Stonington Savings bank, an order for a hearing on appointment of permanent receiver was granted. In the case of Hanson et al. vs. the West Mystic Boat Co., Nathan Belcher of New London was confirmed as permanent receiver, and four months as a time limit for presenting claims was fixed. Permission to employ counsel was granted. Pleadings were filed by stipulation in the case of Walker VSA Walker. The motion for default for failure to plead was argued in Margaret Kenure vs. Brainerd & Armstrong Co., and Judge Wheeler took the papers. An allowance of $35 in ten days to defend was made in the divorce suit of Miner vs. Miner. An answer in ten days was ordered in Charlotte H. Trail vs. Mark D. Stiles. An answer in ten days was ordered in W. H. Trail VS. Mark D. Stiles. An answer in two weeks was ordered in Ida K. Billings, executrix, and others, vs. Alexander F. Shaw. Pleadings in two weeks were ordered in Rebecca Cowles vs. city of New London. In Charles II. Champlin vs. city of New London pleadings were ordered in two weeks. Judgment of non-suit was opened in the divorce suit of Ginevra R. Karoli vs. Henry P. Karoli. A special bail of $2,000 was ordered in two weeks in Angelene Leonetta ys. Joseph Marano. This to be filed before the pleadings. Cases Assigned. The following jury cases were assigned for hearing at Norwich: Tuesday-John Garlington vs. Blissville Mills Co., Inc. (now on trial); Joseph Musial and wife vs. Daniel Kudlik. Wednesday-Henry A. Rogers VS. The Soltz Co., New England Hebrew Farmers' society VS. Louis Schwarth, Emma J. Raughitan VS. Norwich Nickel and Brass Co. Thursday-Willard B. Sunderland vs. Groton and Stonington Street Railway Co., Amede Chetty vs. town of Montville, Georgianna Chetty vs. town of Montville. Dec. 26 (special)-Angello Covell, administrator, vs, Connecticut Co. PAGE 11

2. December 20, 1911 Norwich Bulletin Norwich, CT
Article from Norwich Bulletin, December 20, 1911

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FOR PERMANENT RECEIVER. Notices Have Been Issued by Clerk Parsons Regarding Stonington Bank. Notice has been issued by George E. Parsons, clerk of the superior court of New London county, and D. Burrows Spalding, temporary receiver of the Stonington Savings bank, of a hearing to be had before the court on the matter of the appointment of a permanent receiver in the action of Moses A. Pendleton et al. vs. Stonington Savings bank, at the court in Norwich on the 29th day of December 1911. at 10 a. m. Notices have been issued to all parties in the case to appear. Depositors hope that the end is in sight, and that soon a savings institution can be opened in the borough again. This case has been allowed to drag over a long period now, and those interested hope for an early closing of the affair.

3. December 22, 1911 Norwich Bulletin Norwich, CT
Article from Norwich Bulletin, December 22, 1911

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STONINGTON. New Shipbuilding Company of Great Advantage to Borough-Bank Hearing Today. The Richard T. Green corporation is soon to locate here and is one of the oldest in its line and can look back upon 54 years of prosperous business. W. R. Green will have charge of the Stonington branch and he with his family will locate here. At this time there are none who can predict to how great an extent Stonington is to be benefited, but a conservative estimate places the number of workmen at between 100 and 200, with . a possibility of expansion that will require many times that number. It 1s expected that many families will reside here who will be employed by the company, providing places can be had in which to live. As the greater number to be employed are skilled mechanics, it means an addition to the population of a most desirable nature, who when assured of the permanency of the plant will be ready to build their own homes and thus add increased revenue to the town. Monday the following officers were chosen: President, W. R. Green, Stonington; vice president, Andrew P. Lane, New York city; treasurer, R. T. Green, Jr., Boston: secretary, J. C. Harrington, Boston: board of directors, R. T. Green, Sr., chairman, and the above named officers. Hearing Today. A hearing has been ordered before the superior court to take place today (Friday) on the matter of the appointment of a permanent receiver for the Stonington Savings bank, and copies 0⑈ this order have been mailed to the depositors. D. Burrows Spalding is at present the temporary receiver. General News. Mr. and Mrs. D. B. Spaiding are visiting in Boston. Elizabeth Browning was taken to the Memorial hospital at New London on Wednesday to undergo an operation for appendicitis. On Dec. 28 the members of the Men's club will be addressed by Attorney J. Culbert Palmer of New York. The churches here on Sunday will have special music at both services at d sermons. The condition of L. A. Grover, who is 111 at Stamford, is most unsatisfactory, and there is no hope held out for his recovery. Today (Friday) the Stonington grammar school will close with special exercises. In the kindergarten Miss Quintard will have a Christmas tree for both the morning and afternoon session for the children which will make the hearts of the little ones happy.

4. January 6, 1912 The Bridgeport Evening Farmer Bridgeport, CT
Article from The Bridgeport Evening Farmer, January 6, 1912

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PERMANENT PFCFIITR FOR STONINGTON SAVINGS BANK. Stonington, - Jan. 6-S. Burrows Spalding has been appointed rermaent receiver of the Stonington Savngs bank. Four months has been llowed for the presentation of claims and the sale of real estate.

5. May 25, 1912 Norwich Bulletin Norwich, CT
Article from Norwich Bulletin, May 25, 1912

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SHORT CALENDAR. Motions Argued Before Judge Holcomb -Indian Land Timber Sold for $2,000. At a short calendar session of the superior court here Friday morning, Judge Marcus H. Holcomb, the following cases were disposed of: In McGrath and others VS. William Redden, McGrath and others vs. H. C. Redden, Mc Grath and others VS. H. C. Redden, and Coakley and others vs. Redden, executor, and others, all defaults for failure to plead, pleadings were ordered in three weeks by agreement of counsel. In Margaret Kenure VS. Brainerd & Armstrong company, also a default for failure to plead, pleadings were ordered in two weeks by agreement of counsel. Motion that the divorce case of Noyes A. Eccleston vs. Lila L. Elceleston be placed on the uncontested list was granted, Mrs. Eccleston having made no contest. In Moses A. Pendleton and others vs. Stonington Savings bank, the report of receiver was accepted and a change in the order concerning sale of property and extending time for sale was granted. Plaintiff's motion for leave to amend complaint was granted in Emma Edwards vs. town of Waterford. Charles L. Stewart, overseer of the Eastern tribe of Pequot Indians, presented for acceptance his return on sale of timber on the reservation in North Stonington. It showed that the timber had been sold for $2,000 to Paul Massey of Stonington, with expenses of $165.50, and the account was accepted. In Alice E. Peters VS. Charles A. Peters, the second order of notice was directed. In Clift VS. Groton and Stonington Street Railroad company, demurrer was overruled.

6. January 4, 1913 Norwich Bulletin Norwich, CT
Article from Norwich Bulletin, January 4, 1913

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SHORT CALENDAR SESSION OF SUPERIOR COURT. Number of Cases Disposed of at Session Here Friday. At the short calendar session of the superior court here Friday morning cases were disposed of as follows: In the suit of Jean Turcotte vs. Uncas Power Co., Judge Shumway took the papers after argument of demurrer. The motion that judgment be entered in accordance with mandate of the supreme court in James V. Luce VS. Niaptic Menhaden Oil and Guare Co. was granted. Judgment was granted in the suit of Belton A. Copp and others, executors of the estate of Sebastian D. Lawrence, vs. the Joseph Lawrence Free Public hospital and others. An answer or demurrer before the first Tuesday in February was ordered in Gove VS. Maxson and others. The scheduled hearing on motion for special bail in William Collins vs. Dr. Purdy was postponed. More specifice statement in two weeks was ordered in Thomas Howe VS. George C. Raymond and others. Default was ordered reopened in William M. Howard vs. Samuel M. Prentis, administrator. Judge Shumway took the papers after argument on motion to open judgment in Savings Bank of New London vs. Richard C. Libby and wife. Bond of $75 before the first Tuesday in February was ordered in Frank A. Case and others vs. Connecticut Co. In Willard Moon VS. Charles Daboll, administrator, answer in two weeks was ordered. Order extending time for sale of real estate was granted and acceptance of receiver's report were ordered in Moses A. Pendleton and others vs. Stonington Savings bank. Three weeks were allowed for more particular statement in Stuart vs. Noyes, administrator. Judge Shumway took the papers after argument of motion to set aside verdict in the suit of Mary Gilles vs. Connecticut Co., in which the plaintiff was recently awarded $1,500. The court adjourned to come in at Norwich Jan. 17.

7. March 31, 1913 Norwich Bulletin Norwich, CT
Article from Norwich Bulletin, March 31, 1913

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MOTION LIST. Short Calendar Matters Disposed of in Superior Court. The following matters on the motion list of the superfor court were disposed of at New London on Friday: In Groton Savings bank vs. Michael P. McGrath, judgment by foreclosure was granted. The amount is $1,608.75. The motion to have the damage suit of J. R. Butler VS. Central Vermont road placed on the jury docket was granted. The same motion in J. H. Butler VS. Central Vermont road was granted. In Joyce vs. Margolin and others the motion to cite in Herman Shapiro as party defendant was granted. In the divorce suit of Chester Miner vs. Fannie I. Miner, answer in two weeks was ordered. A second order of notice in the Cone divorce suit was ordered. John Quinn and Fred Irons of Sprague and Andrew B. Davies of Norwich were named as appraisers to value some liened property in Sprague which is in issue in R. Douglas Turner vs. Howard Powell. In the divorce suit of Olive Mills Judd vs. George Judd, an answer in two weeks was ordered. The report of the receiver was accepted and extension of time for sale of real estate was granted in Moses A. Pendleton and others vs. Stonington Savings bank. The court adjourned to come in at 11.30 this morning, when the suit of the New Haven road vs. Louis Cella, started Thursday, will be finished. The court comes in Monday, which is not ordinarily a court day, because Tuesday the court room will be occupied by the criminal court of common pleas. The suit of the New Haven road vs. Cella will probably wind up the current term of the superior court.

8. June 28, 1913 Norwich Bulletin Norwich, CT
Article from Norwich Bulletin, June 28, 1913

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FORECLOSURES GRANTED ON SHORT CALENDAR LIST. Much Business Disposed Of Before Judge Williams. After disposing of the divorce cases Friday morning here, Judge Williams took up the other matters on the short calendar list of the superior court. Foreclosure® in the sum of $6,956.52 was granted on property in Jewett City in the case of Windham County Savings bank vs. Sadie L'Heureux, administratrix, and others. The property is part of the estate of the late Ira F. Lewis. Foreclosure in the sum of $2,843.37 was also granted on other property in Jewett City in a suit between the same parties as in the foregoing foreclosure. Sale was ordered at 1 p. m. on Sept. 3. Foreclosure was granted in the sum of $508.89 in the case of state of Connecticut vs. Jewish Agricultural and Industrial Aid society, and others. The limit for redemption was placed at July 14. On motion to expunge in George Watt of Montville and others vs. Daniel W. Guile, administrator, the judge took the papers. He also took the papers in demurrer in George Watt and others VS. Daniel W. Guile, administrator. Mr. Guile is administrator of the estate of the late Louisa M. Parker of this city. In Uncas Power company vs. Rockville-Willimantic Lighting company an order is to be framed on motion for disclosure by plaintiff. In the case entitled Marion Morse vs. Sidney A. Brown, sheriff, there was a motion that plaintiff appear in court and be remanded to the custody of the sheriff pursuant to the judgment. This was continued to next Tuesday. In town of Ledyard VS. Adelbert V. Alexander, hearing in damages, $2 per week was ordered from date of complaint. The receiver's final account was allowed and the dissolution of the defendant corporation was ordered in Leolin A. Comstock and others vs. People's Coal company of New London. Motion for more particular- statement was ordered in Louis H. Scranton vs. Thames River Specialties company. In Moses A, Pendleton and others VS. Stonington Savings bank, the report of the receiver was ordered filed and an extension of time was granted for the sale of real estate. A motion went off for an order authorizing receiver to accept receiver of First National bank's certificate of deposit or notes. The cases of Collis vs. Davis and Vingeri vs. Groton and Stonington and Sullivan et al vs. Jodoin went off. In Staples et al vs. Hendrick an answer was ordered for the next court day. Greenhaigh vs. Greenhalgh, Bashaw. guardian, vs. C. M. Robertson Paper company, and H. R. Douglas, Inc., vs. Sweeney went off. The case of M. N. Cartier & Son company vs. Royal Linen Mills, Inc., et al, for judgment, foreclosure and limited, went over until next Tues. day. No assignments were made by the court.

9. December 20, 1913 Norwich Bulletin Norwich, CT
Article from Norwich Bulletin, December 20, 1913

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Funeral of Mrs. McGowan. The funeral of Mrs. Mary E. McGowan was held from her home in Groton Friday morning, with a requiem mass at St. Mary's church, Stonington, celebrated by Rev. C. J. Lynch. Burial was in St. Mary's cemetery. Wamphassett and Lord's Point are being visited by deer, many having been seen here this season. Art Exhibit Opens. The art exhibit at the borough schools opened Thursday evening. On Friday evening a musical programme was enjoyed, music being furnished on both nights by the High school and Stonington Symphony orchestras. Savings Bank to Make Settlement. The Stonington Savings bank is soon to make a settlement with depositors, and the affairs of the concern will soon be finished up. The institution has not done business for several years, but depositors still have money due them. Initiated Four. Thursday evening at the meeting of Nina council, No. 43, K. of C.,,four candidates were initiated, also taking the second degree. Refreshments and a social hour followed. Christmas Rally, Christmas Sunday will be observed at the Second Congregational church tomorrow. The special collections, morning and evening, will be for the church choir, to procure music. This (Saturday) evening the members of the Stonington Gun club intend having a game supper, as they have four large ducks. The atter trawl fishermen are making good, 43 barrels being shipped from the local station Thursday. On account of the uncertain running of the trolleys to Westerly, the New Haven railroad is getting the benefit of the traffic. Foundrymen All at Work. The retubing of the boiler at the boiler foundry of A. B. Miller Son's, on East Grand street, was completed by James Gilmore, 60 new steel tubes having been placed in the boiler. The full force of moulders and helpers are now at work there. Miss Charlotte G. Joseph, instructor at Lasell Seminary, has returned home to spend the holidays. Mrs. C. Howard Barber and children of Bridgewater, Mass., and Mrs. J. H. Pendleton and daughter of New York are guests of Mr. and Mrs. William H. Fairbrother. The Travel club will have a vacation of two weeks during the holidays., Mr. and Mrs. W. F. Broughton have returned from a stay in New York.

10. January 31, 1914 Norwich Bulletin Norwich, CT
Article from Norwich Bulletin, January 31, 1914

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WIND UP SAVINGS BANK AFFAIRS Judge Reed Gives Permission to Sell New Haven Real Es. tate of Stonington Savings Bank-Short Calendar Session For February Term Was Brief-Cases Assigned. The case of O'Connell vs. Moriarty, At the short calendar session of the permission to file demurrer to the comsuperior court in New London Friday plaint, was continued one week. morning for the February term Judge The case of Seretto vs. Schwaner et Joel B. Reed approved the contract of al., bill of particulars, went off. sale of property involved in the case A postponement was allowed of Moses A. Pendleton et al. vs. Stonin Carleton et al. vs. Pennsylvania Oil ington Savings bank, permitting the Co., action on claims, order to sell defendant to wind up its affairs. The book accounts and allowance of reStonington Savings bank is at present ceiver's account. in the hands of receivers. In Long vs. Long, non-suit for failAttorney Brennan explained that all ure to comply with order of court, and the assets of the bank had been conBarger vs. Speirs, foreclosure, answer verted into cash except two pieces of or judgment, there were postponeproperty in New Haven. Of this ments. property, one small piece was practiThe plaintiff was ordered to give cally worthless, while the other had bonds of $75 for prosecution and been appraised at $4,000. This amount, three weeks were allowed in the case however, cannot be obtained on cash of the New England Transportation terms, the highest price which can be Co. vs. Haskell. obtained for cash being $2,500. It was Court came in at 10.15 and adjourned desirable that the land be sold for cash shortly after 11 o'clock. and disposed of immediately, so that The following were the assignments the affairs of the bank could be closed made: up as soon as possible. If it were sold Tuesday, Feb. 3-Perkins vs. Peron easy payment terms, the affairs kins, William Collins vs. Alexander M. could not be closed for a long time. Purdy, Annie W. Coggeshall vs. WilAttorney Brennan explained that conliam Coggeshall, tract for sale of the land for cash price Wednesday, Feb. 4-Rebecca S. was ready and he asked that the court Elionsky vs. Iman Elionsky. approve it, which was done. Tuesday, Feb. 10 (special)-WashThe case of David Feuer vs. Fanny ington Trust Co. vs. Norwich and Green Feuer, that order requiring Westerly Traction Co. and others. plaintiff to pay alimony pendente lite Tuesday, Feb. 17 (special)-Norbe vacated and revoked, or that said wich, Colchester and Hartford Tracorder be modified and argument of tion Co. vs. Norwich, Colchester and demurrer to defendant's plea in abateHartford Construction Co. ment, was continued two weeks. Hull, McGuire & Hull filed notice of withTuesday, Feb. 24 (special)-Clarence M. Cohen vs. Charles F. Thayer. drawal from the case because of possiThursday, Feb. 26 (special)-J. HII ble criminal features which would Browning, admr., vs. John W. Hull and make it impossible for Attorney Hadothers. lai A. Hull as state's attorney to act.

11. March 28, 1914 Norwich Bulletin Norwich, CT
Article from Norwich Bulletin, March 28, 1914

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# COURT ADJOURNS AFTER # SHORT CALENDAR SESSION. Motion List Disposed of Before Judge Reed. Superior court with Judge Reed on the bench came in at New London Fri- day morning for a short calendar session. Court was in about an hour and a half when it adjourned without day. The following short calendar matters were disposed of. The account of the receiver in the case of Pendleton et al. vs. Stoning- ton Savings bank was allowed. In Daboll, administrator and trus- tee, vs. Moon et al., counsel agreed to the facts and there was a reservation for the advice of the supreme court. The case of Barber vs. Speirs, argu- ment of demurrer went off. in the case of Balestrini vs. city of New London, a motion to expunge the second defense of the defendant's an- swer was argued and the judge took the papers. The argument of motion to set aside the verdict in the case of Mat- tison vs. Christensen was not made because of the absence from the city of Attorney George C. Morgan, one of the attorneys for the plaintiff, and the matter went off. Two weeks to file pleadings were al- lowed in Andrea vs. New York, New Haven and Hartford Railroad Co. The case of Clatworthy et al. vs. Smith, exeutrix et al., appeal from probate, appellees' motion to expunge from and correct reasons of appeal, went off.