St Albans Bank - St Albans, VT

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 5, 1890
Location: St Albans, Vermont (44.811, -73.083)

Metadata

Model: gpt-5-mini
Short Digest: 17d79d2ce7a8fbd4

Response Measures

None

Description

Article (Vermont Phoenix, 1890-12-05) references the 'St Albans bank disasters' and a court case 'Winters receiver v. A. Barton et al.' with a decree entered. This indicates the bank had failed and a receiver (Winters) was appointed; the clip does not describe a run or reopening. Details of the original suspension/failure are not provided in this excerpt, so I classify as a suspension leading to closure/receivership.

Events (1)

1. December 5, 1890 Receivership

Newspaper Excerpt: The case of Winters receiver ... which resulted from the St Albans bank disasters, and has been pending ... has been finally determined by Judge Wheeler, who has entered a decree for $14,875 and interest and costs taxed at $500.... An appeal has been taken to the supreme court ... .
Source: newspapers

Newspaper Articles (1)

1. December 5, 1890 Vermont Phœnix Brattleboro, Bellows Falls, Ludlow, VT

Article from Vermont Phœnix, December 5, 1890

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Article Text

STATE NEWS. According to a despatch to the Boston Globe Mrs. Lucy Wood of Barre, 105 years old. and probably the oldest person in Vermont, has sent a petition to Congress for a pension. Her husband was a teamster in the war of 1812, and as the present law relating to the veterans of that war does not include teamsters Mrs Wood has asked Congress for a special pension. A sydicate of Rutland business men have bought a large tract of land at Cuttings ville, on which they expect to develop quarries of fine granite. The repairs and alterations on the Episcopal church at Rutland are nearly completed, and will cost about $15,000 Dr. George Dutton. who styles himself dean of the Vermont medical college, left Rutland for Boston on Saturday, and it is reported will soon go to Michigan to see if he can get a charter to establish his SOcalled medical college in that state. The doctor announces that the winter term of the institution will open soon in Boston, and that the spring term will begin in Rutland in April. Rutland lumbermen are reported to be making preparations for a big winter's business, as they think all the indications point to a large quantity of snow. The railroad commission organized Mon day evening with ex-Gov. Pingree as chair man and Alfred E. Watson as clerk. It was decided to hold regular monthly meetings in the state library building at Montpelier. The Franklin county hop crop amounted to 5000 bales this year. It is remarked that game is unusually plenty throughout the state. The grain elevator at Richford, the largest in New England, which is now being built by the Canadian Pacific railroad company, will be ready for receiving in February Thus far 100 men have been at work upon it, but the force is soon to be increased to 150 or 200. The elevator is built upon 96 stone piers, seven feet square at base, four feet square at top and 12 feet high The elevator will be 151 feet high. 132 feet long and 90 feet wide. with a receiving capacity of 500,000 bushels or a little over 30,000, 000 pounds. Above the piers the elevator is to be built of wood covered with corru gated iron constructed as to be practically re-proof. The power is supplied by a Cor liss engine of 175 horse power. in 8 building adjacent to the elevator, and a carload of gain containing 666 bushels, or 40,000 pounds, can be unloaded in seven minutes. and 300 carloads easily disposed of per day The elevator is to be lighted throughout by electricity. To build it will cost over $100,000. The case of Winters receiver V8 0 A Barton et al, which resulted from the St Albans bank disasters. and has been pend ing in the circuit court of the United States for the past six years, has been finally de termined by Judge Wheeler, who has en tered a decree for $14,875 and interest and costs taxed at $500. making in all abaut $16,000 the defendant, Albert Sowles, being discharged without costs. An appeal has been taken to the supreme court and the case will be reached in about four years. The $50,000 required to build a new hotel at Woodstock has all been raised and the e foundation of the building put in. Work I will be resumed in the spring. and it is t hoped it will be finished early in September The late Frederick Billings gave $10,000 e for the project before his death t The iron bridge across the Black river in Cavendish has been completed. It is a t handsome, substantial structure, having a span of 80 feet. It cost $800. The Wells & Richardson company of Burlington are to resume the manufacture of milk sugar, trusting to the protection afforded by the duty on imported goods to make a success of the business in which the e firm is said to have sunk nearly $50,000 in I their first venture a few years ago, n Among the gifts made to the state during the closing hours of the session of the legis lature was a handsome life size portrait of I the late Gen Philip Sheridan, done in cray e on from a rare portrait furnished by Mrs n Sheridan. The givers included many prom d inent citizens of the state. among whom d were the the late Frederick Billings, Frank lin Fairbanks, Gov Page. Commissioner A B. Valentine and Percy W Clement. An old ladies' home was formally dedie cated in Rutland on Wednesday evening after several years of effort to get the in stitution started. Besides a reception room parlor, dining room, etc. there are a doz n en rooms for the accommodation of in mates, the furnishings of which have beer h contributed by Rutland people It start off with four occupants The building is 8