19824. Citizens Institution For Savings (Woonsocket, RI)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
savings bank
Start Date
May 1, 1878
Location
Woonsocket, Rhode Island (42.003, -71.515)

Metadata

Model
gpt-5-mini
Short Digest
ce46d676

Response Measures

None

Description

Multiple articles (May 1–4, 1878) report the Citizens' Savings Institution/Bank of Woonsocket was temporarily enjoined and officers applied for an examination. No explicit depositor run on this specific Woonsocket bank is reported in these clippings; the injunction (court action) is the immediate event. I infer the bank is a state-chartered savings bank from the name. The provided bank name differs slightly from newspaper text (Citizens' Savings Institution / Citizens' Savings Bank); I used the provided name but note the variant.

Events (2)

1. May 1, 1878 Other
Newspaper Excerpt
The run on the savings banks in this city has subsided in a good degree. The officers of the Citizens' Savings Institution, at Woonsocket, applied to the Governor to-day for a commission to examine its contents.
Source
newspapers
2. May 3, 1878 Suspension
Cause
Government Action
Cause Details
Temporary injunction by the court and officers applied to the Governor for a commission to examine its contents; bank enjoined from doing further business.
Newspaper Excerpt
The Citizens' Savings Bank, of Woonsocket, R. I., was temporarily enjoined on the 3d.
Source
newspapers

Newspaper Articles (5)

Article from New-York Tribune, May 2, 1878

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Article Text

SAVINGS BANK TROUBLES. PROVIDENCE, R. I., May 1.-The officers of the Citizens' Savings Institution, at Woonsocket, applied to the Governor to-day for a commission to examine its contents. It is a small bank, having less than $300,000 deposits. It will probably be enjoined. The run on the savings banks in this city has subsided in a good degree. BOSTON, May 1.-The Foxboro, Mass., Savings Bank was yesterday restricted from paying more than 10 per cent to any depositor during the next six months, and 10 per cent additional during the succeeding six months. The deposits now in the bank amount to $198,000.


Article from New-York Tribune, May 4, 1878

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BANK TROUBLES. NEWTOWN, Penn., May 3.-The Newtown Banking Company of this place has collapsed. Its capital was $100,000. Its president, Barciay Smith, has also suspended payment. PROVIDENCE, R. I., May 3.-The Supreme Court to-day temporarily enjoined the Citizens' Savings Bank of Woonsocket


Article from Perrysburg Journal, May 10, 1878

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THE EAST. Secretary Evarts' son William was buried at Windsor, Vt., on the 30th ult. The Secretary and Mrs. Evarts were absent, having been called to New York by the dangerous illness of another son. The steamer Cimbria, chartered by the Russian Government, was at Southwest Harbor, Me., on the 29th ult., with a large number of passengers on board. Her destination is unknown. John Morrissey, ex-Congressman and State Senator from New York city, died at Saratoga on the 1st. Gen. Benj. F. Butler will deliver the oration at Gettysburg, Pa., on Decoration Day. President Hayes and Postmaster-Gen. Key will be present. The steamship Pomeranian, from Hamburg on the 1st, brought $100,000 in gold coin. The New York Assembly has adopted a resolution authorizing the appointment of a committee to investigate the alleged abuses in the management of freightage by railroads chartered in the State. A receiver was appointed on the 3d for the Guaranty Fire Insurance Company, of New York city. E. Remington & Sons, manufacturers of rifles, ammunition, etc., at Ilion, N. Y., are financially embarrassed. Liabilities about $1,000,000 and assets $4,000,000, but not immediately available. They formerly employed 1,200 men, but at present only 400 are employed. The Citizens' Savings Bank, of Woonsocket, R. I., was temporarily enjoined on the 3d. The syndicate take an additional $5,000,000 of 4 per cent. bonds. William H. Gilmore, the inventor of the folding machine, died on the 3d at Hopkinton, N. H. Thomas E. Ladd, a prominent business man of Laconia, N. H., has disappeared, and it is now stated that he is a forger and incendiary, ruining a number of people and victimizing tive banks. His liabilities foot up $30,000. Ten buildings, heavily insured and held by Ladd, have been burned within to few years past, and he confessed before his disappearance that several of the fires were set by him. He is supposed to be in Canada. The Newton (Pa.) Banking Company has failed. Peralto, a Mexican, rode 303 miles at Brooklyn, N. Y., on the 4th, in fifteen hours and ten minutes, with fifty horses. He changed horses every mile. John Morrissey's funeral took place at Troy, N. Y., on the 4th. The entire State Senate, the Lieutenant-Governor, and a delegation of Assemblymen were present. Rumors of a raid on Canada by the Irish in the event of war between England and Russia are afloat in Buffalo. Right of way has been purchased in Pennsylvania and New York for a pipe line from the Pennsylvania oil region to Buffalo. The Anti-Usury Society at its annual meeting in New York on the 6th adopted resolutions that all usury laws should be abolished; that it should not be legal to collect usury interest, and that, the people being the country, all laws should be made for their good and not for the benefitof any one class. William Rowe, of New Jersey, was elected e President of the American Labor Reform League on the 6th. At the session of the Vermont M. E. ConS ference on the 6th the committee for the trial of Rev. E. D. Hopkins, charged with forgeries, reported that he be expelled from the ministry and membership of the church. a The Border City Mills Corporation of Fall River, Mass., is bankrupt. e A large hotel, livery stable, several stores, oil offices and dwellings at Bradford, Pa., were burned on the 6th.


Article from Union County Courier, May 15, 1878

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OWD countrymen. They will soon issue 8 pocket edition of the New Testament in Japanese. ARTHUR W. BELL, of Porter, Beli & Co. and a prominent member of the Young Men's Christian Association, of Pittsburg was buried on the 4th inst. CORBETT & MCCLYMONT, builders of London, Surbeton and Westgate-on-Sea, have failed; liabilities, $7,000,000; assets upward of one thousand houses, valued at from $2,500 to $40,000 each. THE Citizens's Savings Bank, of Woonsocket, R. L, has been temporarily enjoined. THE investigation of the log seizures in Louisiana is progressing slowly. In many cases strong points are made against the government agents, but some depredations will be proven. THE well known Dr. Helmbold was arrest ed on the streets of New York, on the 2d inst., and later was taken to Bellevue hospital. He is suflering from acute insanity. The physicians think he will recover in a few days. THE thirty-seventh annual council of the Protestant Episcopal Church was held at New Orleans, May let. WATER was let into the Rideau canal on the 1st inst., and barges left with lumber for the United States. CRIMES AND CASUALTIES. AN elevator in the Boston dry goods store, Chicago, fell from the third story, on the 7th inst., and four persons were seriously injured. AT the opening of the new hunting park at Philadelphia, on the 7th inst., Peter Morris' horse fell while running the hurdle race. The animal fell upon Morris, fatally injuring him. THE boiler of a portable engine exploded at Memphis, Tenn., on the 6th inst., killing two men and severely injuring several others. A FIRE at C. Leindecker's place, two and a half miles from Muscatine, la., on the 4th inst., destroyed hisbarn, with six horses, a fine Jersey bull and calf, with a lot of agricultural machinery. Loss, $2,000; no insurance. The fire is supposed to be incendiary, because Leindecker had reduced the price of milk. THE show window of Stephen Pain's jew elry store, at Providence, R. I., was robbed, on the night of the 6th inst., of $5,000 worth of diamonds MICHAEL DUTTON was murdered near Watertown, N. Y., on the 4th, and Peter Brestinham has been arrested, suspected of the crime. JOHN M. BINCKLEY, a lawyer and wellknown in political circles, having occupied the position of assistant attorney general under President Andrew Johnson, mysteriously disappeared from his home in Milwaukee, Wis., on the night of the 4th inst His coat and hat was found on the shore of Lake Michigan, together with a note pinned to a tree stating his (Binckley's) intention of walking into the lake and ending his life. THOMAS BAILEY, of Carlinville, III., aged 18, and George I. Dodge, of Fairhaven, O., aged 24, were killed by a railway train, at Crawfordsville, Kansas, on the 3d inst. They were both studentsof Wabash College. A FIVE-YEAR-OLD son of John Seiler, living near Mount Carmel, IIL, killed his sister, two years old, with a revolver he found in a drawer in the house. THIEVES entered the house of Daniel Landis, at Gratoisford, Pa., on the night of the 3d inst., when they werediscovered, and a hand-to-hand fight eusued. The two thieves were shot dead, while Landis was badly wounded, and a friend named Harry Aschenpelter, who assisted him, was mortally injured. THE main building and office of the Albion lead works at Dighton, Mass., were burned on the 2d inst. Loss, $150,000; insurance, $31,000. A GHASTLY crime has come to light in Nebraska. The bodies of Luther Holbrook, Herman Allen, snd two brothers named Sutton, who were engaged in trapping on the Dismal river, were found, with bullet


Article from The Abbeville Press and Banner, May 22, 1878

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imprisonment in the county jail. alleged forgery consisted of an interlineation of a lease, whereby Pauli was enabled to remove the porches from a building. John Morrissey, New York State Senator died at Saratoga, N. Y., on the 1st, after a long sickness. He had recently returned from a trip to Florida, where he had gone for the benefit of his health, but without gaining any relief. Mr. Morrissey was born in Ireland in 1831, and cameto this country three years later. In his early days he was a prize- fighter and gambler. He became member of Congressfrom a New York district in 1866, and was re-elected in 1868. In 1875 he was elected to the State Senate, and at the election last fall he ran again for Senator in the strongest district and against one of the best known candidates of his political opponents. The canvass was one of the liveliest and most exciting ever known in the history of New York politics, and Morrissey, although successful, was 80 prostrated by his efforts for victory that his strong constitution was undermined, and he never took the seat to which he had been elected. The Newtown Banking Company, of Newtown, Pa., has suspended, and the Citizens' Savings Bank, of Woonsocket, B. I., has been temporarily enjoined from doing further business. E. Remington & Sons, the well known manufacturers of rifles, at Ilion, N. Y., have become financially embarrassed, and have submitted their affairs to their creditors. Their liabilities amount to $1,000,000, and the assets are estimated at four times that amount, but are not immediately available. Thomas E. Ladd, a prominent business man of Laconia, N. H., disappeared after committing a number of forgeries and signing large number of notes that he cannot pay. The old-stage coach days have been revived by trip from New York to Philadelphia, made by members of the New York Coaching Club, in their coach Tally Ho. The trip was made in twelve hours, relays of horses being stationed at different points along the route and the huge coach, with eleven members of the club perched on top, each taking his turn at the reins, attracted much attention as it rattled through New Jersey. When the coaching party reached Philadelphia it was received by large number of vehicles of every description and escorted through the streets by numerous equestrians of both sexes, while the streets were filled with pedestrians and many of the houses were decorated with bunting in honor of the unusual event. Joel Smith, captain of the Brooklyn First police precinct, was shot in the neck and seriously wounded by Morris Heffernan, policeman. The shooting was done in the station house, and Heffernan had been on a spree. At Bradford. Pa., a fire destroyed a block containing fifteen buildings and caused damage amounting to $50,000, on which there is about $25,000 insurance. A skiff containing three women and two children was struck by raft on the Allegheny river, near Pittsburg, and two of the women drowned. Deaths on the rail: Thomas Goram, a brakeman on a Wallkill Valley railroad train, while making a jump from a caboose to a flat car near Shawangunk, N. Y., fell with his leg on the track, and the train passed over it in two places he was brought to Rondout, and died about five "clock. Charles Tuttle, resident of Katonah, N.Y., was instantly killed by the Chatham express, at a point half way between Katonah and Bedford he was walking on the track directly towards the coming train, but being very deaf and having the setting sun in his eyes, did not perceive his danger. Western and Southern States. At Kansas City, Mo., Theodore Hattenbach and wife were found murdered in their home, which had been set on fire, while their little girl was discovered out of doors with fatal injuries. No clue to the murderer was found. Matthew Weaver, the defaulting cashier of the Urbana (Ohio) bank has been arrested in Chicago. There were 265 petitions in bankruptcy filed in Chicago during April, with total debts of over $13,000,000. Three men were killed and twelve others, more or less, seriously injured by an explosion of the boiler in the towboat Warner on the Mississippi river, at Memphis. W. S. O'Brien, one of the California bonanza kings, is dead. He leaves a fortune variously estimated at from fifteen to twenty millions. At seven o'clock P. M., as the night hands in the immense Washburn flouring mill at Minneapolis, Minn., were about to relieve the day hands a sudden and appalling explosion took place which shook the city as by an earthquake and crumbled the mill like an egg-shell. The Washburn mill is the largest of its class in America and employed from forty to sixty men. The first crash was followed by other explosions in surrounding mills, eight of which were destroyed by the roaring flames. From fifteen to twenty men in the Washburn mill met terrible death in the falling ruins, while the pecuniary damage is estimated at over $1,000,000. The explosion is attributed to gas generated in the patent middling purifier. Eighteen lives were lost by the explosion in the Washburn flour mill, Minneapolis, Minn. At an election riot in Weldon, N. C., John Purnell, colored man, was killed and Captain T. S. Emery was badly hurt. The latter and another man were held in $2,000 bail. A dangerous counterfeit note of the denomination of 8100 on the Merchants' National Bank of New Bedford, Mass., has been put in circulation in the Western States. Miss Susan A. Stuart, & public school teacher at Zion's Church, Norfolk county, Va., was found dead in her room over the school house. Her pocketbook, rifled of its contents, was lying near the body, and there were other,evidences of foul play. Municipal elections have been held in various cities and towns of Indiana, with varying results, in some cases the Republicans electing a majority of the ticket in others the Democrate. At Terre Haute three tickets were in the field, and the new National party elected their candidate for mayor by twenty-one plurality. It is asserted that frauds upon the govern-. ment by whisky ring in Cincinnati have been discovered, amounting to about $1,250,000. Treasury agents from Washington were sent secretly to Cincinnati to investigate the matter. The frauds have been committed by refilling packages, the re-use of stamps, fraudulent guaging, and the use of a peculiarly shaped barrel which would permit the distiller to place in the barrel three or four gallons more than it appeared to hold. The evidence in the possession of the government officers in regard to these frauds is said to be conclusive. From Washington. The sub-committee of the House committee on education and labor has agreed on bill imposing tax of $100 apiece on Chinese immigrants. The public debt statement for April shows a decrease in the debt for the month of $3,015,865.59 and the following balance in the treasury: Currency, $1,163,140.68; special fund for redemption of fractional 10.000,000; special deposit of legal tenders for redemption of certificates of deposit, $28,315.000: coin (including coin and silver certificates, $55,144,500), $156.037 236. outstanding legal tenders, $346,681,016; the total exports for March were $72,347,000, and the imports, $37,350,638. Two treasury employes have been temporarily suspended by the President, Mr. Glover, of the House committee on expenditures in the treasury department. having stated to him in writing that they had been guilty of misconduct. The matter will be investigated. The House committee on education and labor agreed upon substitute for the several pending bills to restrict the immigration of Chinese. It makes it misdemeanor for the master of any vessel to take on board at any foreign port whatever any number exceeding fifteen Chinese passengers, whether male or female, with the intent to bring such passengers to the United States. rnd provides that the act shall take effect from and after January 1. S. B. Packard, of Louisiana, has been nominated by the President to be United States consul at Liverpool, and Lucins Fairchild,