19102. Randolph National Bank (Randolph, VT)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
2274
Charter Number
2274
Start Date
June 11, 1900
Location
Randolph, Vermont (43.925, -72.666)

Metadata

Model
gpt-5-mini
Short Digest
55123bc61f057e7e

Response Measures

None

Description

Articles (June 1900 and April 1901) describe the Randolph National Bank being effectively closed/defunct with a receiver (Judge C. H. Maxham) appointed. Coverage cites depreciation of western securities and investment losses as the cause; there is no clear description of a depositor run. Therefore this is a suspension (failure) followed by receivership/closure.

Events (3)

1. June 7, 1875 Chartered
Source
historical_nic
2. June 11, 1900 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Depreciation of certain western securities and investment losses by a trustees' committee; losses over eleven years left bank unable to continue operations.
Newspaper Excerpt
The Randolph National bank should not be confounded with the Savings bank ... It is understood that Hon. C. H. Maxham was tendered the appointment of receiver this afternoon.
Source
newspapers
3. April 4, 1901 Receivership
Newspaper Excerpt
Judge C. H. Maxham, receiver of the defunct National bank of Randolph, returned Saturday night from Randolph where he had been for two weeks on business connected with the bank.
Source
newspapers

Newspaper Articles (2)

Article from Barre Evening Telegram, June 11, 1900

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Article Text

usual in such cases. Nearly all of which are utterly unfounded. All but one of the trustees, or members of their families, had deposits in the bank. Only $395 all told had been drawn out by all of them since January 1,1 and many times that sum had been deposited by them and is still in the bank. Several parties were reported to have drawn out large sums Friday, bnt investigation shows that this was not SO. A very small amount was received Friday morning, and a few small sums paid out. The inspector, as stated above, and others who have examined the affairs of the bank, believe that the depositors will be paid very nearly in full and will lose but little. There is not the slightest suspicion of anything wrong in the affairs of the bank. The depreciation of certain western securities, was the sole cause and these have been improving during the past six months, and may be paid in full if crops and business continue good in Nebraska. Much sympathy is felt by all for Mr. B. T. Lombard, who has been the treasurer of the bank from the start, but who had no voice in the investment of the funds which was all done by a committee of the trustees, who used their best judgment. The losses of the bank in the eleven years have been slight compared with that of many of the prominent business men of the village. The Randolph National bank should not be confounded with the Savings bank as it is entirely separate and distinct, and is one of the strongest in the state. It is understood that Hon. C. H. Maxham was tendered the appointment of receiver this afternoon. He is one of the leading business men of Windsor county and one of the assistant judges of the Windsor county court.


Article from Bellows Falls Times, April 4, 1901

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Article Text

WOODSTOCK. William S. Brooks of Holyoke, Mass., who has been in a hospital for over three months ill with typhoid fever, is visiting his grandmother, Mrs. Warren C. French. Miss Susie Montague returned Saturday from a two weeks' vacation spent in Boston. Miss C. Alanette, preceptress of the high school, is in New York for the Easter vacation. Miss Sybil V. Boynton is in Boston. A number went from here to White River Junction Friday evening to attend Hoyt's play, "A Bunch of Keys." Mrs. Fred W. B. Smith is visiting at her former home in Wallingford. Mrs. J. G. Porter and Miss Porter are in New York. H. P. Clark is about to start an overall factory on the first floor of the Woodward factory. He expects to begin work about May 1 and will start with six girls and ten machines. Mrs. Augustus Putnam died at her home in Barnard last week Sunday. She had been sick for several weeks. Her funeral was Tuesday at her late home, Rev. J. F. Simmons of Woodstock officiating. A meeting of St. Agnes' Guild was held Friday evening at Mrs. Dr. Kidder's. Leon F. Sampson, for eight years clerk in the postoffice, has resigned his position here to accept a position as assistant postmaster at Hanover, N. H., and with Mrs. Sampson moved to Hanover Monday. His place here is supplied by Clarence Randall of Felchville. A. B. Morgan is having a large plate glass window placed in his drug store and the double door is to be taken out and a single door with a plate glass window will be put in. Miss Ethel Story is spending the vacation at her home in Canaan, N. H. Dr. E. B. Mack of West Hartford has moved here and will occupy the office vacated by Dr. Chandler and the family will occupy the house on River street vacated by Leon F. Sampson. Judge C. H. Maxham, receiver of the defunct National bank of Randolph, returned Saturday night from Randolph where he had been for two weeks on business connected with the bank. Mrs. T. O. Seaver is in New York. Charles F. Ingalls, who has been in the furniture store of E. A. Spear for the past four years, has severed his connection with Mr. Spear and will go into business for himself in rooms over Cox's store. As Chester B. Ladd, 81 years of age, was returning home from the postoffice Monday e he was taken ill. S. S. Winslow came along with a load of wood which he was drawing to Mr. Ladd's house and took him home on the load. He tried to help unload the wood but was not able to do much and went into the house and sat down and died in a few minutes. Mrs. Ladd was called home from the Inn where she was at work but did not reach home until after his death. The body was taken to Sharon Wednesday for interment, that place being of