19647. Hopkinton Savings Bank (Hope Valley, RI)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
August 15, 1895
Location
Hope Valley, Rhode Island (41.508, -71.716)

Metadata

Model
gpt-5-mini
Short Digest
f3efa663

Response Measures

None

Description

Multiple contemporary newspaper reports (mid-August 1895) state the Hopkinton Savings Bank of Hope Valley suspended payment (around Aug 15-16, 1895) and will probably wind up its affairs; several mention intent to liquidate. Causes cited are depreciation of securities (notably Northwestern Guarantee & Loan Company securities) and withdrawal of deposits for investments in Florida. No explicit reopening is reported; closure/liquidation is expected, so classified as suspension_closure.

Events (1)

1. August 15, 1895 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Depreciation of securities (notably Northwestern Guarantee & Loan Company) and heavy withdrawals of deposits for investment in Florida securities; assets about $100,000 and intended liquidation is reported.
Newspaper Excerpt
The Hopkinton Savings Bank, of Hope Valley, has suspended payment and will probably wind up its affairs.
Source
newspapers

Newspaper Articles (10)

Article from Alexandria Gazette, August 15, 1895

Click image to open full size in new tab

Article Text

Suspended. PROVIDENCE, R. I., Aug. 15.-The Hopkinton Savings Bank, of Hope Valley, has suspended payment and will probably wind up its affairs. This is the second time it has been in trouble. In 1886 the bank suspended but resumed business in a short time. The cause of the present difficulties are business depression, depreciation of securities and withdrawal of deposits to invest in Florida securities.


Article from The Indianapolis Journal, August 16, 1895

Click image to open full size in new tab

Article Text

Business Embarrassments. WESTERLY, R. I., Aug. 15.-The Hopkinton Savings Bank, of Hope Valley, has suspended payment, owing principally to the depreciation of the Northwestern Guarantee Loan Company's securities and the withdrawal of deposits for investments in Florida securities. This is the second time this bank has been in trouble, it having suspended on Feb. 10, 1886. The assets of the bank amount to about $100,000 and it is expected that depositors will be paid in full. It is intended to wind up the affairs of the institution by liquidation. OMAHA, Neb., Aug. 15.-The department store of the S. P. Morse Dry Goods Company is in the hands of the sheriff, and attachments aggregating $62,200 have been ISsued against the stock. The company was incorporated last April and succeeded to the business of the Morse Dry Goods Company. The business has been less than the firm had hopes of and for some weeks the various creditors have been pushing for a settlement. The total liabilities, it is though, will not exceed $75,000, and the assets are about $100,000. COLUMBUS, O., Aug. 15.-James & Black, contractors for the erection of manufacturing works for Rarig & Co. assigned to-day to W. K. Williams. Assets, $175,000; liabilities, $26,000.


Article from The Wheeling Daily Intelligencer, August 16, 1895

Click image to open full size in new tab

Article Text

A Bank suspends. WESTERLY, R. I., August 15.-The announcement way made to-day that the Hopkinton Savings Bank, of Hono Valley, has suspended payments, ow. ing principally to the depreciation of the Northwestern Guarantee Loan Company's securities and the with drawal of deposits for Investment in Florida securities.


Article from Richmond Dispatch, August 16, 1895

Click image to open full size in new tab

Article Text

Savings Bank Suspends. PROVIDENCE, R. I., August 15.-The Hopkinton Savings Bank, of Hope Valley, has suspended payment, and will probably wind up its affairs. This is the second time it has been in trouble. In 1886 the bank suspended, but resumed business in a short time. The cause of the present difficulties are business depression, depreciation of securities, and withdrawal of deposits to invest in Florida securities.


Article from The Providence News, August 16, 1895

Click image to open full size in new tab

Article Text

Hopkinton Savings Bank Suspends. PROVIDENCE, Aug. 16.-The Hopkinton Savings bank of Hope Valley has suspended payment and will probably wind up its affairs. In 1886 the bank suspended, but resumed business in a short time. The causes of the present difficulties are business depression, depreciation of securities and withdrawal of deposits to invest in Florida securities.


Article from Pawtucket Tribune, August 16, 1895

Click image to open full size in new tab

Article Text

Its Second Suspension. PROVIDENCE, Aug. 16.-The Hopkinton Savings bank of Hope Valley has suspended payment and will probably wind up its affairs. In 1886 the bank suspended, but resumed business in a short time. The causes of the present difficulties are business depression, depreciation of securities and withdrawal of deposits to invest in Florida securities.


Article from Elmore Bulletin, August 21, 1895

Click image to open full size in new tab

Article Text

A RHODE ISLAND BANK SUSPENDS Institution at Hope Valley Had Most of Its Funds Withdrawn. Westerly, R. I., Aug. 15.-The Hopkinton Savings bank of Hope Valley has suspended payment owing principally to depreciations in the Northwestern Guarantee & Loan Company's securities and the withdrawal of deposits for investment in Florida securities. The assets are about $100,000, and It is expected depositors will be paid in full.


Article from The Weiser Signal, August 22, 1895

Click image to open full size in new tab

Article Text

A RHODE ISLAND BANK SUSPENDS Institution at Hope Valley Had Most of Its Funds Withdrawn. Westerly, R. I., Aug. 15.-The Hopkinton Savings bank of Hope Valley has suspended payment owing principally to depreciations in the Northwestern Guarantee & Loan Company's securities and the withdrawal of deposits for investment in Florida securities. The assets are about $100,000, and it is expected depositors will be paid in full.


Article from Highland Recorder, August 23, 1895

Click image to open full size in new tab

Article Text

THE NEW3. United States officers a rested four men in the neighborhood of Altcona, Pa., charged with making and passing counterfelt money. Eli Ferdill and Will iam Monagan, postoffice robbers, escaped from jail at Parkersburg, W. Va -Miss Evelyn McCormick, a well-known young artist of San Francisco, committed suicide because the young man to whom she was engaged marr ed another woman.-Emmanuel Padroli, & rancher, discovered a rich vein of gold, in which he cleaned up $10,000 in a single day, near SIIver City, Nev. Emides Volpe, an Italian, shot and killed Jene Rose Coligno, another Italian, whom he caught acting improperly with his Afteen-year-old daughter. The people of Pomona, N.J., spent Sunday fighting forest fires, finally checking the progress of the flames by throwing upasand embankment three feet high and nearly five miles long.-The venerable Henry W. Blodgett, ex-judge of the United States Court at Chicago, was thrown over the dashboard of h s carriage while out driving at Waukegan, III. The Supreme Court of South Dakota has granted a temporary writ of habeas corpus in the case of defaulting State Treasurer Taylor, and it has teen served on th sheriff. It is returnable in three days, when the question of legality of the five years' sentence will be argued. The Augusta Evening News has suspended publication. The employes entered c aims for wages due, and the sheriff levied upon the plant. Proprietor Gow said the embarra-sment is only temporary.- The Southern Lumber Manufac turers' Association concluded their session in Memph s, after adopting the resolutions presente 1 by the various committees. A price list, based on a twenty-two cent frei ht h rate, was adopted, to take eff et September 1. The price of all standard lumber were advanced. -The announcement was made that the Hopkinton Savings Bank, of Hope e Valley, R. I., had suspended pay ments owing principally to the depreciation of the Northd western Guarantee Loan Company's securiS II ties and the withdrawal of deposits for iny vestment in Florida securities. weste bound freight train broke in two a mile from Pomfret Station, Ct. The two sect ons came e toge ther af er the break, wrecking seventeen n cars. Brakeman Benson was slightly in" jured, and three tramps killed. The st t office at North Brookfield, Mass., was robbed o of $1,000 worth of stamp The thieves escaped. The 3afs was b own open and wrecked e. almost beyond repair, while the contents e were scattered all over the office. e Samuel Vinson and his son Charles, who e, ehad killed two men, were taken from the ir county jail in Eilensburg, Wash., and changed. a A stage was held up near Roseburg,Ore., The and robbed by a lone highwayman. a bot r of a threshing machine exploiel in 0 Morgantown, W. Vis., kill n z three mon and ot injuring three others. -By the explosion of is a large boiler in the paper mill and postal th card man factory of Woolworth & Co., at n Castleton, near Albany, N. Y., one man, in James Lawton, the watchman, was killed, st and another, the engineer, was 80 badly inj red that he will die. Ex-State Treasurer at W. W. Taylor, of South Dakato, who dein faulted la it January, has been sent to the e penitentiary for five years. The ocean tug h. Shaw, owned by Smith & McVey, of Philadelg phia, was destroyed by fire while lying her dock in the Delaware River. The fire ad ir originated in the engine room. Ten thous th and dollars will cover the loss. The entire nd business part of the villa :0 of Pikeville in Tenne see, was destroyel by fire. Loss, le, $33,000. Ex-Mayor Van Horn, of Denver at was killed in that city by falling from a wines dow.-A horrible accident occurred in the ed home of Mrs. Alexander Teachint, who, ch :ave her home from des ruction, seized th of stove and threw it out of the door. She wa r, mediately wrapped in flames, and he on el the, saturated with oil, were totally de ur stroyed. The woman's flesh was burned to at crisp. ziBaker City, ore., fire destroyed th en Ore, on Railway and Navigation Company' freight and passenger depot, a large ware ed house and nine loaded freight cars. Th large wool and freight warehouse of S. nd Hellner was also de troyed, together with i ad contents. Loss, $140,000. James Mo le ly Gonigle shot his father, while aiming at an H ed other man, in North Yakima, Wash. then fatally wounded the father of a girl ve had slandered. -Three men, with a traine bear, refused to leave Farmer McComb place, at Summitville, N Y. The farme thereupon shot twoof them. -Jennie Lew n's a domestic, was shot and killed in Oakland a Cal, by a rejected lover. --Jesse G. Jone off lumberman, of Minneapolis, Minn., has bee is forced to assign. His liabilities are $:50,000 off and his estimated assets, $238,000. His con it mercial obligations are estimated at abor r's $20,000. The Northern Trust Company ng the a signee. - The convention of the Ame ad ican Library Association was begun in De: sh, ver.-Mrs. Luther Lowe, of Kansas City rewas attacked by a tramp.- The Bank ur Shelby, in Tennessee, suspended. -Judge ist O'Neil, in Cincinnati, decided that the Com of mercial Bank, of that city, was insolvent lo lic, before it suspended, and that the official ne, violated the law. ad DEATH OF GENERAL MAXEY a er Soldier and United States Se


Article from The Abbeville Press and Banner, September 4, 1895

Click image to open full size in new tab

Article Text

Savings Bank Fails. The Hopkinton Savings Bank, of Hope Valley, R. I., has suspended. In 1886 the bank suspended, but resumed business in a short time. The causes of the present difficulties are depreciation of securities and withdrawal of deposits to invest in Florida securities.