Sheldon & Binney - Providence, RI

Bank Information

Episode Type: Suspension → Closure
Bank Type: private
Start Date: January 1, 1894*
Location: Providence, Rhode Island (41.824, -71.413)

Metadata

Model: gpt-5-mini
Short Digest: f3d0674a

Response Measures

None

Description

Article reports Sheldon & Binney (bankers of Providence) 'assigned to C.S. Sweetland' (assignment = insolvency/receiver). The firm had assigned a year earlier and received extension; collapse attributed to failure of the Denver City cable road. No run is mentioned. Date of assignment was described as 'a year ago' relative to the 1895-01-10 article (approx. 1894).

Events (2)

1. January 1, 1894* Receivership

Newspaper Excerpt: Sheldon & Binney, bankers of Providence, assigned to C.S. Sweetland.
Source: newspapers

2. January 1, 1894* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Assignment (insolvency) caused by collapse/loss from failure of the Denver City cable road (bad investment/exposure).
Newspaper Excerpt: Sheldon & Binney, bankers of Providence, assigned to C.S. Sweetland. The firm assigned a year ago, but received an extension from their creditors. The cause of the collapse was the failure of the Denver City cable road,
Source: newspapers

Newspaper Articles (1)

1. January 10, 1895 Bellows Falls Times Bellows Falls, VT

Article from Bellows Falls Times, January 10, 1895

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Article Text

RHODE ISLAND. Richard Kruger, charged with numerous burglaries in Woonsocket, today pleaded nolo contendere and was sentenced to 22 years' imprisonment. Kruger has recently fallen heir to a $10,000 estate. George W. Gibbs of San Francisco, formerly of Newport, has given a deed of trust to the local Y. M. C. A: of two $1000 bonds to be held until the association raises $25,000 for the purchase of a site and the erection of a building. Sheldon & Binney, bankers of Providence, assigned to C.S. Sweetland. The firm assigned a year ago, but received an extension from their creditors. The cause of the collapse was the failure of the Denver City cable road,