19640. Cranston Savings Bank (Cranston, RI)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 1, 1895
Location
Cranston, Rhode Island (41.780, -71.437)

Metadata

Model
gpt-5-mini
Short Digest
1cefaec3

Response Measures

None

Description

Articles reference the Cranston Savings Bank being in the hands of a receiver (Lorin M. Cook) by June 1, 1895 and later proceedings on the receiver's final account in March 1896. No newspaper text describes a depositor run; the bank was in receivership (i.e., suspended/closed) and appears not to have reopened. Cause of suspension is not stated in the articles (classified as 'other').

Events (3)

1. June 1, 1895 Receivership
Newspaper Excerpt
leave to garnish the funds of Manuel C. Mello. in the hands of Lorin M. Cook, receiver for the Cranston Savings Bank.
Source
newspapers
2. March 9, 1896 Other
Newspaper Excerpt
The petition of the receiver of the Cranston Savings Bank for allowance of his final account was in the same court referred to John C. Pegram, Esq., as master, to take said final account and report any facts which may be pertinent to said account and to report what compensation shall be given to said receiver after February 29, 1896.
Source
newspapers
3. * Suspension
Cause Details
Articles do not state the trigger for the suspension; only that a receiver was appointed and funds were in hand of the receiver.
Newspaper Excerpt
in the hands of Lorin M. Cook, receiver for the Cranston Savings Bank.
Source
newspapers

Newspaper Articles (3)

Article from The Providence News, June 1, 1895

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Article Text

WASHINGTON STREET. The Report of Commissioners Sustained by Judge Wilbur. Philo E. White Sentenced to the Workhouse for Non-Support. Judge Wilbur, in the common pleas division of the Supreme Court, handed down the following opinion in the Washington street cases this morning: "The motions of Tobias Burke, Abby A. and Mary C. Billings, George Paul Slade. by guardians, and the Rhode Island Browing Company, and James Hanley, to dismiss the proceedings in the matter of the widening of Washington street, are overruled. "In accordance with resolutions of the City Council of the city of Providence, passed on the 16th day of September, 1892, directing the city solicitor to make application to the Supreme Court for the appointment of commissioners of estimate and assessment, the city solicitor, on October 23, 1892, made application to the Supreme Court for the appointment of commissioners of estimate and assessment. That due notice was given by the city clerk of the pending of said applications. That com. missioners were appointed by said court at its October term, 1892. That said commissioners made report to the common pleas division of said court, bearing date, April 19, 1894, said report was filed May 3, 1894. Notice was given to all parties in interest to appear October 1, 1894, to be heard in opposition to the confirming of said report, etc. A decree was entered on the last mention confirming the report as to all persons interested not having demanded a jury trial except as to certain awards of damages. On December 15, 1894, the said report was referred back for 'revisal and correction' to the same commissioners. On the 8th day of February, 1894, the commissioners filed a 'correction and revisal in part of said first report.' On February 9, order of notice on supplemental report was made. February 16, citation as of February 9, issued returnable, March 30. "That the parties by their counsel were heard. The proceedings of the City Council being in accordance with the provisions of law, I find no error up to the coming in or filing of the report. The report was upon motion of the ctiy solicitor referred back to the same commissioners for 'revisal and correction,' as provided in December 3. of an act in relation to the laying out, widening, straightening, or otherwise altering streets in the city of Providence, passed February 22, 1854, because of errors in the estimate and as. sessments as at first reported. "I find the court had full power and authority to refer the first report back, as it did. for revisal and correction, and therefore there is no reason why said report should not be confirmed as revised and corrected. Let a decree be entered confirming said report." All the parties interested have taken an appeal from his Honor's decision to the appellate division. NON-SUIT DENIED. In the suit of Peleg A. Sanford Frank M. Bates, city treasurer of Pawtucket, a motion was made by William C. Baker, one of the counsel for the defendant, at the conclusion of the evidence for the plaintiff, for a non-suit, on the ground that the city was not liable because no notice was given to it of the obstruction of the highway. Judge Wilbur denied the motion. holding that where permission was given to the street railway company to put in the trolley on the highway in question it became responsible for any damage resulting therefrom. The trial of the suit of Abbie Page VS. Charles H. Page, Jr., administrator, which was begun before Judge Rogers late yesterday afternoon, was continued today. Before Judge Douglass. Municipal Court of Providence vs. Catherine McElroy. Certified to appellate division. George Campbell VS. James K. Haney. Held for advisement. Decree entered confirming the report of commissioners on Andrew street as to all parties. In matter of layout of Huntington avenue Raymond G Place is appointed a commissioner in place of Thomas W. Manchester, disqualified and resigned. Sarah E. Dearden vs. John F. Adams. Judg. ment for defendant for costs. Notice of appeal filed. SENTENCED FOR NON-SUPPORT. Philo E. White, who was found guilty in this court of non-support of his wife, was this morning sentenced to six months in the State Workhouse by Judge Rogers.. W. B. Beach, attorney for White, made a warm personal appeal for his client, stating the latter was in very hard circumstances, and finally asked the court to suspend sentence. Attorney Owen spoke in opposition to Mr. Beach. Judge Douglass said the evidence had been well considered, but in view of counsel's statements, he would give defendant the smallest sentence allowed by law. There have been many sensational features about this case. The prisoner and his wife were at one time very well off. Now, both are very poor. APPELATE DIVISION In this division another hearing was had in the case of National Rubber Company vs. Rhode Island Hospital Trust Company, which has been before the court for several weeks and is brought to restrain the defendant from foreclosing certain mortgage bonds alleged to have been held by the Sears Commercial Company as security for an unnalanced account, and by the latter company transferred to the defendant. James Tillinghast appeared in behalf of the complainant, and Walter F. Angell for the respondent. By an order entered in court this morning, Manuel J. Diogi was given leave to garnish the funds of Manuel C. Mello. in the hands of Lorin M. Cook, receiver for the Cranston Savings Bank. VERDICT FOR $2400. In the suit of Peleg A. Sanford against the city of Pawtucket, the jury this afternoon brought in a verdict for $2400. The real defendant in the case was the Union Traction Company. The first session of the common pleas division of the Supreme Court for Woonsocket will be held in the northern city on Monday,


Article from The Providence News, March 9, 1896

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Article Text

Brakeman's Big Claim for" Damages. Dispute Concerning Value of "Gilt Edged" Securities. Cranston Savings Bank Receiver's Account-Surgeon Excused. George E. Handy asked a jury in Judge Wilbur's court today to give him a verdict against Edwin M. Waldron for $3500. Mr. Handy claims that in April, 1893, he had some money to invest in stocks and being unsophisticated, as his attorney expressed it, he applied to Mr. Waldron for advice as to what stocks he could purchase that mignt prove a good investment. At the first interview Mr. Handy claims Mr. Waldron said he had no stocks to sell. At a latter date, however, according to the story told by the plaintiff, Mr. Waldron came to him and said he had some gilt edge stocks he would sell him. Some of the stock referred to in this manner were shares in the Rhode Island Organ Company and two bonds of the Atlantic Pacific Railroad Tunnel Company. Concerning the latter, Mr. Waldron, it is alleged, stated the company was taking out gold and silver enough to pay the interest on the bonds. The stock of the organ company was represented as a good 10 per cent. stock with dividends payable quarterly. The plaintiff purchased 2 shares of Atlantic, Pacific Railway lunnel Company at $1000 each, paying for them in cash, and 120 shares of the organ company's stock at $10 per share, while his wife also purchased 30 shares at $10 a share. The organ company was also represented as doing a big business, the last dividend, it was said, having been in the March previous to the sale to the plaintiff. Afterward the plaintiff claims he found that the value of the organ company stock was but $1.50 to $3.00 per share and the bonds of the tunnel company but $500 to $550 each. The plaintiff, when cross examined, by Walter F. Angell, one of the attorneys for the defendant, said since his purchase of the bonds in the tunnel company he had bought stock in it of a Pawtucket broker. He also admitted to Mr. Angell that the musical instruments manufactured by the organ company were nickelin-the-slot machines to be used in saloons and hotels. But witness claimed he did not know this when he bought the bonds. The deposition of a witness and officer in the Atlantic Pacific Railroad Tunnel Co. was read, showing that there was not gold or silver enough taken out of the tunnel, which was to be 25,000 feet long, to pay for the working of the tunnel, but on the contrary the money to build the same had been raised by selling bonds and stocks. Treasurer E. F. Curtis of the organ company testified that there had been no dividend voted on the stock since the November before the plaintiff purchased some of it. The witness had bought some of the stock for $2.50 a share early in 1893. BRAKEMAN'S BIG SUIT. The trial of the suit of Herbert C. Wood, formerly a brakeman in the employ of the New York, New Haven & Hartford Railroad Company, against that corporation to recover $10,000 for injuries received while in its employ on May 10, 1895, was begun before Judge Rogers and a jury this morning. The plaintiff claims that on the day named he was, at about half past four o'clock in the morning, on a rear car of a freight train which was being switched back to connect with a caboose. The track was slippery, so the engine did not, in slowing up, arrest the movement of the cars, and Mr. Wood grappled the brake handles and began tightening the brake. The car which he was on in the meanwhile came very close to the shed over the platform at the passenger depot and SO intent was his mind, the plaintiff said, on the stopping of the train, that he did not notice anything but the work which he was doing. In the meanwhile his head struck the corner of the shed over the platform and he was hurled to the platform. Mr. Wood further "claims that The did not know the shed was of insufficient height to enable him to work as he was doing and that be had only been under the shed while on top of a car a couple of times, The injuries received by the plaintiff as the result of his fail were the breaking of one of his arms, the spmaining of the wrist on his other hand, several severe wounds and cuts about the head and body, as well as a severe concussion of his spine. These injuries caused him great suffering, he alleges, and the injury to his spine he believes to be of a permanent nature. On cross examination by Frank S. Arnold, attorney for the defendant corporation. the witness admitted that in December last he rode on a night freight train to Worcester without permission of the officers of the road and had gone to work at his old employment for the Boston & Albany Railroad, though he claimed to have worked but about three weeks. Walter B. Vincent is attorney for the plaintiff. APPELLATE DIVISION. In the appellate division of the Supreme Court today a decree was entered in the case of Joseph Hill and wife VS. Delhina C. Wallace, appointing Herbert Almy, Esq., master to take testimony. The petition of the receiver of the Cranston Savings Bank for allowance of his final account was in the same court referred to John C. Pegram, Esq., as master, to take said final account and report any facts which may be pertinent to said account and to report what compensation shall be given to said receiver after February 29, 1896.


Article from The Providence News, March 9, 1896

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Article Text

APPELLATE DIVISION. In the appellate division of the Supreme Court today a decree was entered in the case of Joseph Hill and wife vs. Delhina C. Wallace, appointing Herbert Almy, Esq., master to take testimony. The petition of the receiver of the Cranston Savings Bank for allowance of his final account was in the same court referred to John C. Pegram, Esq., as master, to take said final account and report any facts which may be pertinent to said account and to report what compensation shall be given to sáid receiver after February 29, 1896.