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LOCAL BANKS WILL LOSE MONEY Boston, May 26.-Seventy-one banks and trust companies, most of them in Massachusetts, but many located in various parts of the country, are among the creditors of the banking firm of Burnett, Cummings & Co. of this city, which yesterday filed a voluntary petition in bankruptcy in the United States district court, with liabilities placed at $1,714,368. The assets are stated to be uncertain. The creditors have been given to understand that they will not exceed $200,000. if indeed they prove to be of any value whatsoever. The bankruptcy petition is the heaviest filed in this district since the present bankruptcy law went into effect in Massachusetts. Attorney J. T. Auerback, counsel for the bankrupt firm, said that the cause of the failure was the building and financing of the Concord and Boston Street Railway company, the Middleboro, Wareham and Buzzards Bay Street Railway company, the Lowell and Boston Street Railway and the Bristol County railway company. These roads were in thinly settled districts and were unable to make suitable connections with roads running to Boston. The four companies were placed in the hands of receivers and thereupon the notes given by them became valueless. Furthermore, the Massachusetts Securities company's bonds, which were secured by obligations of these electric railways. lost their value and entailed losses upon the firm. MANY SAVINGS BANKS. The secured creditors number 87, and the unsecured 81. There are 32 savings wanks in the list of creditors and 13 Massachusetts national banks. It is understood that the securities given the banks for their loans were bonds of the Massachusetts Securities company. which, in turn. were secured by notes of the bankrupt electric railways. One of the largest creditors is the Worcester Five Cent Saving bank with a claim of $80,600. Other bank creditors are the Danvers Savings bank for $26,721: the Millbury Savings Bank of Millbury for $26,660. the City National bank of Lynn for $19,789. the Newton Savings bank for $35,154. and the International Trust company of Boston for $44.495. All these claims are in the secured list. Among the other large claims, most of them unsecured, are the Lynn Five Cent Savings Bank, $21,899; the National Bank of the Republic. $17,000; City Savings Bank of Providence, R. I., $20,711: Brockton Savings Bank, Brockton, $11,121; South Weymouth Savings Bank, South Weymouth, $10,581; Kingston Savings Bank, Kingston, R. I., $26,000; National Niantic Bank, Westerly, R. I., $9286. Among the Western institutions affected are: The Chicago Savings Bank, Chicago, $3039; the State Savings Bank, Ann Arbor, Mich., $1545; the Western Trust and Savings Bank. $11,896. and the State Bank of Chicago, Chicago, $1425. The largest individual claim is that of Frank C. Wood of East Boston for $43,000. C. G. Moffett of Rockland, Me., has a claim for $22,666. WERE CHARGED OFF. Of the claim of the City Savings Bank of this city,, given as $20,711. Edward P. Metcalf, president of the Old National Bank, states that the City Savings Bank went into liquidation a year ago, and the Old National took over its depositors. The Burnett & Cummings account, was an old one and had been charged off long ago. It consisted of street railway notes that had all been taken care of. William Segar, the former president of the National Niantic Bank, now absorbed by the Industrial Trust. states that the