Willimantic Savings Institute

Bank Information

Episode Type: Suspension → Reopening
Bank Type: savings bank
Start Date: November 3, 1899
Location: Willimantic, Connecticut (41.711, -72.208)

Metadata

Model: gpt-5-mini
Short Digest: 6e2f798e

Response Measures

None

Description

Article (Nov 3, 1899) reports a court order increasing amount of deposits allowed to be withdrawn from 20% to 50% and permits dividends and receiving new deposits. The bank had earlier faced a run and was operating under a court injunction restricting withdrawals. This is a suspension (injunction) with actions that indicate partial resumption of normal operations (hence suspension_reopening).

Events (2)

1. November 3, 1899 Suspension

Cause: Government Action
Cause Details: A court injunction (issued earlier after a run) had restrained withdrawals; judge issued order allowing increased withdrawals (partial lifting of injunction).
Newspaper Excerpt: The order provides that in addition to the 20 per cent. of deposits heretofore permitted to be withdraw deposits to the extent of 30 per cent. may now be withdrawn, making altogether 50 per cent. from which the injunction has been removed.
Source: newspapers

2. * Other

Newspaper Excerpt: A few years ago a run was started on the bank and the bank officers secured an injunction so that the depositors were restrained from withdrawing over 10 per cent. without giving the bank the prescribed notice.
Source: newspapers

Newspaper Articles (1)

1. November 4, 1899 The Daily Morning Journal and Courier New Haven, CT

Article from The Daily Morning Journal and Courier, November 4, 1899

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Article Text

WILLIMANTIC SAVINGS BANK. Court Allows Thirty Per Cent. More of Deposits to be Drawn. Willimantic, Nov. 3.-Judge Ralph Wheeler of the superior court in session at Putnam to-day, issued an order regarding the Willimantic Savings institute. The order provides that in addition to the 20 per cent. of deposits heretofore permitted to be withdraw deposits to the extent of 30 per cent. may now be withdrawn, making altogether 50 per cent. from which the injunction has been removed. A few years ago a run was started on the bank and the bank officers secured an injunction so that the depositors were restrained from withdrawing over 10 per cent. without giving the bank the prescribed notice. Two previous orders granting a 10 per cent. withdrawal were issued. Today's order also permits the bank to declare and pay dividends during the coming year and to receive new deposits which will not be affected by the injunction.