19014. Barre Trust Company (Barre, VT)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
trust
Start Date
March 16, 1922
Location
Barre, Vermont (44.197, -72.502)

Metadata

Model
gpt-5-mini
Short Digest
3e25ccaeaea9e4a0

Response Measures

None

Description

Articles describe the closed Barre Savings Bank and Trust Company (in receivership) whose assets were transferred to the newly organized Barre Trust Company. There is no mention of a depositor run; instead a receiver petitioned to transfer assets and a new Barre Trust Company opened April 10, 1922. Suspension/closure of the old institution appears to be court/receiver-driven; new institution resumed business.

Events (2)
1. March 16, 1922 Suspension
Cause
Government Action
Cause Details
Barre Savings Bank and Trust Company was closed and placed in receivership; receiver George B. Carpenter petitioned the court to transfer all assets to a newly organized Barre Trust Company.
Newspaper Excerpt
Authority to dispose of all the assets of the closed Barre Savings Bank and Trust company to the newly-organized Barre Trust company.
Source
newspapers
2. April 10, 1922 Reopening
Newspaper Excerpt
The Barre Trust company ... opened for business at 123 North Main street ... opened for the various kinds of banking business and received good patronage at the outset.
Source
newspapers

Newspaper Articles (3)
1. February 23, 1922 The Barre Daily Times Barre, VT
Article from The Barre Daily Times, February 23, 1922

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Article Text

cent interper the they 1920, Las which on No since accrued 23, of the said M. D. of ag bank with about Barclatereat of the are which on the Barin so called, the has the Barre, receiver for the same except of of stock $2,000 Peerleas and $400 Mills comof said That on said now paying under month the ap. with receiver of this which Court, "tach That 1923. be can sold for 10. ag. there losses That and $35,000 to bound fromwhich of the in of cur loans Co. the Trust Bank be the from which in the of rethe made 31, of 1921. December to com. said bank goes are bound losses if be all of saved over ing of the the That of the artistate, with been filed have of for the the state State the for Barre Trust company. of the said incorporate Februopen of for ary recription it is and the PTO. pital capital in stock Trust company be to par paid $100 bank 20, 1922, of books said 500 bank, of of for the the thus $150 per of stock be to for nd paid cash. 13. been That have the fact and aver of of be the stock that he has been Barre Trust company the soon very that Trust be will and ready to of the 14. the That the made have company your petition following the That Trust Barre company the an of lease assignment the of Barre and company any kind Trust of every and under such the Bank the assets. will pay the the of ill for of of the sum as ship and infull without 23, the 1920, Nov. provided of fund guarants as addi dollars of the the for tional security D. M. and loans Barclay payment of the for the inwith prioned rust per from annum 1920, Oct. 15. informed and and that of of the the arge Tru and com Bank Savings of of this are any favor er in of the Trust made Barre behalf of and know your 10 in can way the of full the depositamount paywithout interest believe it of the petinierent le of Savings h Trust company by the 16. their That for your the the best Barre to have the all ackholders h of one an ourt pay of cent apital stockhold to as are in of fund $25,000 for the each which stock to in an liable in their in of the such that be may of a ccepted, de nd an such that assess your peti as those in Trust the event by the court to pay the who protheir in the ided peti your given da bring assessof the ents in he cline pay right suit is for such receiver and said assess. to transferre the that T event an as ich ing to and ing Co an oppor. to said guarthe an in of lieu of to offer af as rovide tw be the ay total bring liq for with loan, Barclay to up cash, ele in 000 cre 17. the pray Ch at of com the offer the Trust Barre Ba the Sav the for ny Barre be and ge may Bank Trust company da an 100 of per That Fet all of the levied upon

2. March 16, 1922 The Barre Daily Times Barre, VT
Article from The Barre Daily Times, March 16, 1922

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Article Text

o Transfer of All Assets of e Barre Savings Bank & Trust Co. About Apr. 5 INTEREST TART a ON IL 1, 1922 S n Chancellor Action on Petition of ceiver After Matters Cleared Up After an all-day session yesterday at the banking rooms of the Barre Sav+ ings Bank Judge C. as Stanley and Trust Wilson company chancellor, before the latter approved the petition of the receiver, George B. Carpenter, for authority to dispose of all the assets of the closed Barre Savings Bank and Trust company to the newly-organized Barre Trust company. The decree of the chancellor will be filed to-day and must run 20 days before the transfer can be made to the new organization, which will bring the date of the transfer to April 5. The new Barre Trust company exto for as soon pects date open as business complete after that it can arrange+ ments for so doing, probably about April 10. But it was the understanding of court that the new bank, which to Bank Savings agrees the pay and depositors Trust in company the Barre in interest to 1920, will interest at of full, begin with paying up Nov. the 23, rate all four per cent from April 1, 1920, to depositors who leave their deposits with the new bank. At hearings, committees the the new representing depositors, yesterday's old bank stockholders, and attorneys the representing various interests were all interests making it known that the for the-new. dethe present, old they institution approved by offer made The folcommittee has to the the positors' lowing report depositors made the of old bank: "March 16, 1922. "To of Savings Bank the depositors and Trust the company: Barre "Your committee has investigated the situation of the Barre Savings Bank and Trust company as appears from our report to the court of chancery, which follows: "We feel that the proposition of the Barre is fair to the dethat the new tional stock and of positors, Trust capital company bank surplus, with addiin cash, will a institution reand $75,000 solid paid and be should sound the and of all of the old Trust ceive Bank depositors and support company." co-operation Barre Savings committee the to following The depositors' report the chancellor: made To the court chancery. for the of state Washington, within honorable and of of Vermont: county elected by for the purpose "The the depositors undersigned committee of the of Barre inthe proposition for over asvestigating Trust of company the taking Bank the sets Barre Savings and Trust beg the Savings "We company, requested leave Granite to whom report. and Trust company, we had not aswho sets understood Bank and might examined possibly be the intera to an exof the assets ested amination in purchase make of the Barre with Bank and Trust company. Savings view of one of determining (100) whether cent the of fer hundred per to the depositors as of Nov. 23, 1920, was the best offer obtainable. the court postponed of the offer consideration "At our request of the Barre Trust company. has been made nd advised that "Such we are examination the consider Granite bank does not care he of the assets Savings onsider purchase the proposition of to the and Barre does Trust company a fair proposition uner all the circumstances. therefore, respectfully ask the ourt to the offer rust for the "We. company accept assets of the of Barre the Barre Savings Bank and Trust comany. at the city of Barre in the day f March A. D., ounty "Dated of Washington 1922.' this 15th is signed by Leslie C. CarZanleoni, enter, The report Charles jr., James [cDonald and M. D. Keefe, committee

3. April 10, 1922 The Barre Daily Times Barre, VT
Article from The Barre Daily Times, April 10, 1922

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Article Text

t BARRE TRUST CO. STARTS AUSPICIOUSLY New Banking Institution Opened for Business at 123 North Main Street To-day. The Barre Trust company, which again brings Barre's list of banking institutions to four, opened for business at 123 North Main street, in the northern end of the Quarry Bank building. this morning and the introduction of the new bank to the community was auspicious. The bank was opened for the various kinds of banking business and received good patronage at the outset. The equipment of the bank, as already stated in these columns, is of modern construction, including one of the best bank vaults in the state: and the bank finds itself in a position to do business under satisfactory surroundings. As a preliminary to the opening of the bank, the directors sent out, Saturday night. the final 50 per cent of the amounts due on Christmas Savings club deposits of the old Barre Savings Bank and Trust company, the first 50 per cent of which was advanced last year by the other three banks of the city through the Board of Trade. Approximately $24,000 was thus sent out in checks on the Barre Trust company. The remaining accounts in the Old Christmas Savings club which were not assigned to the Board of Trade are now payable at the Barre Trust company.