Rhode Island Institution For Savings

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: June 4, 1878
Location: Providence, Rhode Island (41.824, -71.413)

Metadata

Model: gpt-5-mini
Short Digest: 749e32a7

Response Measures

None

Description

Trustees applied to wind up the business under law and obtained an injunction to close the bank without a receiver; this is a voluntary winding-up (liquidation), no run is mentioned.

Events (1)

1. June 4, 1878 Suspension

Cause: Voluntary Liquidation
Cause Details: Trustees applied to Supreme Court to wind up and close the bank under the new law without the intervention of a receiver.
Newspaper Excerpt: The trustees of the Rhode Island Institution for Savings applied to the Supreme Court to-day for authority to wind up the business under the new law ... the trustees will proceed to close the business of the bank.
Source: newspapers

Newspaper Articles (1)

1. June 5, 1878 The New York Herald New York, NY

Article from The New York Herald, June 5, 1878

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Article Text

CLOSING A SAVINGS BANK. PROVIDENCE, R. I., June 4, 1878. The trustees of the Rhode Island Institution for Savings applied to the Supreme Court to-day for authority to wind up the business under the new law without the Intervention of a receiver. the necessary injunction was granted, and the trustees will proceed to close the business of the bank.