Central National Bank (Boston, MA)

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TUESDAY, Nov. 4, 1902. William T. Nelson of New York commits suicide; act caused by worry over friend's arrest. Coal arbitrators visit mines in the Hazleton region. "Jim Crow" car law goes into operation in New Orleans. Treasurer Roberts' annual report shows greatest cash balance in history of the country. Colombian government will renew negotiation of a canal treaty. Little Haverhill girl, supposed to have been abducted, claims to have been lost in Lawrence. Body of Ernest C. Mansfield, the Harvard student, found in Charles river. Alaskan natives dying by thousands from measles. Directors of Central national bank of Boston vote to wind up its business. S. T. Coy, a prominent paper manufacturer of Bellows' Falls, dead. Five hundred silversmiths go on strike in New York. Laura Biggar gives herself up to authorities at Freehold, N.J. Lebaudy brothers' new airship makes successful trial trip near Moisson, France. Dismissal of Grand Duke Paul Alexandrovitch from Russian army due to his marriage to Baroness Pistolkoff. Pennsylvania railroad promises 90minute runs between New York and Philadelphia. Wife of a New York real estate man, who is suing for divorce, charged with stealing husband's papers. Eleven Cuban children, destined for a Buddhist school in California, detained by immigration authorities in New York. Crown Prince of Siam arrives at Niagara Falls. Joseph Cloud was arrested at Brunswick, Me., charged with assaulting Mrs. John Griffin. He confessed. The aldermen of Fall River last night gave the Dartmouth and Westport Street Railway company the right to carry freight. Henry Brittin was held in $500 in Lewiston charged with the larceny of three barrels of whiskey and one barrel of brandy. While lighting the gas in a store window in Lowell the clothing of Miss Helen Priestly caught fire and she was probably fatally burned. The city council of Portland has passed a resolution favoring an abolishment of the lower branch and an increase of aldermen to three from each ward. The wholesale grocery firms of Chicago will have none of George B. Hanford's $500,000,000 grocery trust, for the formation of which a convention is called to meet in Detroit. John Hannan, the millionaire shoe manufacturer of New York, had a narrow escape from drowning at Narragansett Pier. As he was boarding a sailboat at the south pier dock he slipped and fell into the water. Although he was rescued at once, Mr. Hannan was speechless when taken aboard the boat. A 16-year-old hunter, David Fuller, was shot and instantly killed at Asqwith, Me., by Arthur Bagley. who fired into a clump of alders which were being shaken as if by a moving animal. Mark Fuller, his son, David, and Arthur Bagley of Henderson were hunting together. The stock of . O. Toby's store was extensively damaged by fire at Machiasport, Me. It was believed Mr. Toby sought death by burning with his property. Mr. Toby's store books were found outside the building, wrapped up and covered with his overcoat. Nothing else had been removed. He was not seen after leaving his home.

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BOSTON, Mass., Nov. 14.-The Central National bank of this city did not open for business today, the comptroller of the currency having ordered Examiner Neal to close its doors and take charge of the business as temporary receiver.

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BOSTON BANK FAILS Washington Nov

14.-The acting comptroller of currency has appointed William E. Neal. temporary receiver of Central National Bank of Boston, which closed its doors this morning. Failure is due to losses sustained. There is DO apparent discrepancy on the part of the officers.

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BOSTON BANK CLOSED CENTRAL NATIONAL IN CHARGE OF TEMPORARY RECEIVER NEAL. Its Capital $500,000 and Deposits $2,700,000-Two Mililon Dollars Drawn Out in a Day. BOSTON, Nov. 14.-The Central National, a small institution compared with many other city banks, did not open its doors to-day because of an order from the controller of the currency, who had placed National Bank Examiner W. E. Neal over it as temporary receiver. Impaired assets is given as the reason for the failure and the bank is closed for good. The incident did not produce any flurry in financial circles, as the closing of the bank through liquidation by the Eliot National Bank was looked for and such action it was supposed had commenced. The incident which precipitated the failure was the rejection of a considerable portion of the Central Bank's assets by President Burrage, of the Eliot Bank, who was scrutinizing them preparatory to taking the bank for liquidation. Another portion of the assets was known to have been acceptable and the action of President Burrage and the Eliot Bank directorate in refusing to liquidate the bank was unexpected. On Wednesday sales of the Central's stock dropped $15 from par and yesterday depositors withdrew something like $2,000,000. Later in the day the clearing house declined to aid the bank and certified checks on the bank were refused acceptance by other banks. Overnight propositions were made to place a receiver in charge of the bank, and in fulfillment of this plan the doors were placarded to-day. Many banks came to the relief of the Central's depositors. By the last report to the controller of the currency the bank's standing was as follows: Doonurons

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SMALL BOSTON BANK IN RECEIVER'S HANDS Its Failure Will Cut No Figure in the Financial World. Boston, Novmber 14.-The Central National bank, a small institution compared with many other city banks, did not open its doors today because of an order from the cemptroller of currency, who had placed National Bank Examiner W. Neal over it as temporary receiver. Impaired assets were given as the first reason of failure. The incident did not produce any flurry in financial circles, as the closing of the bank through liquidation by Elliott National bank was looked for and such liquidation it was supposed, had commenced. The incident which precipitated the failure was the rejection of a considerable portion of the Central bank's assets by President Burrage of the Elliott bank, who was scrutinizing them preparatory to taking them to the bank for liquidation. Another portion of assets is known to have been acceptable, and the action of President Burrage and the Elliott bank directorate in refusing to liquidate the bank was unexpected. On Wednesday sales of the Central's stock dropped $15 from par and yesterday depositors withdrew something like 2,000,000. Later in the day the clearing house declined to aid the bank and certified checks on the bank were refused acceptance by other banks. Over night preparations were made to place a receiver in charge of the bank and in fulfillment of this plan the doors were placarded today. Officers of other banks are of the opinion that the Central's failure will not be noticed in financial circles.

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BOSTON BANK CLOSED

Impaired Assets the Reason Assigned for the Failure. Boston, Nov. 14.-The Central National, a small institution compared with many other city banks, did not open its doors today because of an order from the Comptroller of the Currency who had placed National Bank Examiner W. E. Neal over it, as temporary receiver. Imparied assets is given as the reason for the failure and the bank is closed for good. The incident did not produce any flurry in financial circles, as the closing of the bank through liquidation by the Elliot National Bank was looked for and such action, it was supposed, had commenced. The incident which precipitated the failure was the rejection of a considerable portion of the Central Bank's assets by President Burrage of the Illot bank. Wednesday sales of the Central's stock dropped $15 from par and yesterday depositors withdrew somethink like $2,000,000. Later in the day the clearing house declined aid, and certified checks on the bank were refused acceptance by other banks. Many banks came to the relief of the Central's depositors.

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A BOSTON BANK CLOSES ITS DOORS Impaired Assets Said to Be Cause of Failure-No Flurry in Financlal Circles. Boston, November 14.-The Central Na. tional, a small institution compared with many other city banks, did not open its doors today because of an order from the comptroller of the currency, who had placed National Bank Examiner W. E. Neal over it as temporary receiver. Impaired assets is given as the reason for the failure, and the bank Is closed for good. The incident did not produce any flurry in financial circles, as the closing of the bank through liquidation by the Elliott National bank was looked for, and such action It was supposed had commenced. The Incident which precipitated the failure was the rejection of a considerable portion of the Central bank's assets by President Burrage of the Elliott bank, who was scrutinizing them preparatory to taking the bank for liquidation. Wednesday's sales of the Central's stock dropped $15 from par and yesterday depositors withdrew something like $2,000,000. Later in the day the clearing house declined aid and certified checks on the bank were refused acceptance by other banks. Many banks came to the relief of the Central's depositors.

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BOSTON BANK CLOSED

Failure of Central National Causes Only Slight Flurry. BOSTON, Nov. 15.-The Central National, a small institution compared with many other city banks, has closed its doors by reason of an order from the comptroller of the currency, who has placed National Bank Examiner W. E. Neal over it as temporary recelver. Impaired assets is given as the reason for the failure, and the bank is closed for good. The incident did not produce any flurry in financial circles, as the closing of the bank through liquidation by the Eliot National bank was looked for, and such action it was supposed had commenced. The incident which precipitated the failure was the rejection of a considerable portion of the Central bank's assets by President Burrage of the Ellot. bank, who was scrutinizing them preparatory to taking the bank for liquidation. Another portion of the assets was known to have been acceptable, and the action of President Burrage and the Ellot bank directorate in refusing to liquidate the bank was unexpected. Wednesday sales of the Central's stock dropped $15 from par, and Thursday depositors withdrew something like $2,000,000. Later the clearing house declined to aid the bank, and certified checks on the bank were refused acceptance by other banks. Preparations were at once made to place a receiver in charge of the bank. Many banks came to the relief of the Central's depositors, the National Shawmut offering to advance 50 per cent of their deposits. Director Moses W. Richardson of the bank says that depositors probably will be paid in full, and while the stockholders may be called upon for a quick assessment in the end they will lose nothing. Officers of other banks are of the opinion that the Central's failure will not be noticed in financial circles.

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Boston Bank Fails

Boston, Nov. 14.-The Central National Bank, a small institution compared with many other city banks, did not open its doors yesterday because of an order from the comptroller of the currency, who had placed National Bank Examiner W. E. Neal over it as temporary receiver. Impaired assets is given as the reason for the failure, and the bank is closed for good. Director Moses W. Richardson, of the bank, said that depositors probably would be paid in full, and, while the stockholders may be called upon for a quick assessment, in the end they will lose nothing.

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The Central National Bank of Boston, did not open for business on the 14th inst. Several reasons for the failure were assigned, but the simple one was lack of funds. The capital stock was $500,000, and carried deposits of $2,700,000, it is stated as usual, that depositors will be paid in full. And this comes immediately after the late republican election! How passing strange? Why was not the reserve brought out, and sent to the rescue.

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A Very Big Decline In the Copper Stocks BOSTON, Mass, Nov. 19-What came near bordering on a panic started today in the local market and there was a general unloading of copper stocks in the face of many rumors, one of which, to the effect that Thomas W. Lawson was in difficulties, was promptly denied by the operator. Copper stock prices melted by points, with Amalgamated Copper and Copper Range setting the pace for the whole ist. Both stocks threatened 50. Calumet. the bulwark of the copper shares fell to a new low record for recent years 470. Similar losses were recorded throughout the copper list. Banking officials generally say that local institutions are in very strongshapeand that the closing of the Central is without significance.

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Boston Bank Fails

New York, Nov. 14.-A special dispatch from Boston to the Herald says: The Central National bank will not, it is stated. open its doors to-day. the clearing house committee having decided to refuse aid. When the facts were brought to the attention of the comptroller of the currency he is understood to have authorized the bank examiner to close the doors. W. E. Neal is stated to have been appointed receiver. It is believed that there are sufficient assets to pay all the deposits in full without calling an assessment on the stock. This turn of affairs is a surprise. as the Central. although neitner a large nor an old bank. had good commercial patronage and was supposed to be financially strong. Its capital was $50,000.

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Boston Bank Closes Its Doors

The Central National bank at 141 Devonshire street, Boston, Mass., did not open its doors Saturday morning. The clearing house committee which met to consider the case, felt compelled to refuse aid. When the facts were brought to the attention of the comptroller he authorized the bank examiner to close the doors and It can be stated that a receiver will be appointed. The bank has deposits aggregating about $3,500,000. Excessive losses and blow paper are given as causes leading to the failure.

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Boston Bank in Trouble

The Central National bank of Boston has been placed in a receiver's hands because of impairment of its capital.

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Boston Bank Fails

New York, Nov. 14.-A special dispatch from Boston to the Herald says: The Central National bank will not, it is stated, open its doors to-day. the clearing house committee having decided to refuse aid. When the facts were brought to the attention of the comptroller of the currency he is understood to have authorized the bank examiner to close the doors. W. E. Neal is stated to have been appointed receiver. It is believed that there are sufficient assets to pay all the deposits in full without calling an assessment on the stock. This turn of affairs is a' surprise, as the Central. although neitner a large nor an old bank. had good commercial patronage and was supposed to be financially strong. Its capital was $50,000.

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BOSTON BANK CLOSED

Central National Bank In Placed in the Hands of Comptroller of the Currency. Boston, Nov. 15.-The Central National, a small institution compared with many other city banks, did not open its doors Friday, because of an order from the comptroller of the curreney, who had placed National Bank Examiner W. E. Neal over it as temporary receiver. Impaired assets is given as the reason for the failure, and the bank is closed for good. The incident did not produce any flurry in financial circles, as the closing of the bank through liquidation by the Eliot National bank was looked for, and such action it was supposed had commenced. The incident which precipitated the failure was the rejection of a considerable portion of the Central bank's assets by President Burrage, of the Eliot bank, who was scrutinizing them prèparatory to taking the bank for liquidation. Another portion of the assets was known to have been acceptable, and the action of President Burrage and the Eliot bank directorate in refusing to liquidate the bank was unexpected. Wednesday sales of the Central's stock dropped $15 from par and on Thursday depositors withdrew something like $2,000,000.

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Receiver For Boston Bank

Washington, Nov. 25.-The comptrolJer of the currency has appointed Frank D. Allen permanent receiver of the Central National bank of Boston.

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Receiver of Boston Bank

The controller of the currency has appointed Frank D. Allen permanent receiver of the Central National Bank of Boston.

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To Wind Up Affairs of Bank Boston, Nov. 25.-Frank D. Allen 0 Lynn has been appointed by Comptroller Ridgely permanent receiver of the Central National bank of this city, which ceased operations a week age last Friday. Mr. Allen is in Washington in consultation with Comptroller Ridgely.

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BUSINESS FAILURES.

Jan. 10—Cleveland, O., Euclid Trust & Savings Co.; $1,500,000. 11—Painesville, O., People's bank; $173,000. 14—Chicago, Geo. H. Phillips, "corn king," fails for second time in 7 months. 17—Albany, Ga., Commercial bank; $123,000. 28—Bellwood, Neb., Platte Valley state bank. Feb. 10—Detroit, Mich., City savings bank, on account of shortage of Vice President Frank C. Andrews. 25.—Belmont (O.) national bank. 26—Burnett, Tex., private bank of W. H. Westfall & Co. Mar. 3—Elkhart, Ill., State bank. 15—Wanatah, Ind., Julius Conitz, banker. 20—Americus, Ga., People's bank; $30,000. Apr. 4—St. Paul, U. S. Saving & Loan Co.; $800,000. 24—Algonac (Mich.) Banking Co.'s bank; $32,000. Jun. 3—Chicago, John A. & Alexander Davidson, marble contractors; $1,391,838. 13—Charleston (S. C.) Exposition Co., placed in receivers' hands; $450,000. 30—Murdock, Neb., German state bank; $37,000. Jul. 3—New York city, M. P. Anderson, real estate operator; $1,535,212. 29—Brooklyn, N. Y., Malcolm Brewing Co.; $800,000. Aug. 16—Elgin, Ill., Obadiah Sands Butter corporation, $445,000. 20—Cleveland, O., Forward Reduction Co., booming Texas oil; $500,000. 24—Elnora (Ind.) bank; $10,000. Sep. 2—New York, American bicycle trust. Oct. 7—Oto, Ia., bank of F. H. Cutting & J. T. Willett; $20,000. 16—New York, Gillman, Son & Co's banking house; $200,000. Nov. 5—Richmond, Va., Leon L. Strause, leaf tobacco; $300,500. 13—Boston, Central national bank. Dec. 8—Omaha, W. H. Bennett Co.'s department store.

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BUSINESS FAILURES.

Jan. 10—Cleveland, O., Euclid Trust & Savings Co.; $1,500,000. 11—Painesville, O., People's bank; $173,000. 14—Chicago, Geo. H. Phillips, "corn king," fails for second time in 7 months. 17—Albany, Ga., Commercial bank; $123,000. 28—Bellwood, Neb., Platte Valley state bank. Feb. 10—Detroit, Mich., City savings bank, on account of shortage of Vice President Frank C. Andrews. 25.—Belmont (O.) national bank. 26—Burnett, Tex., private bank of W. H. Westfall & Co. Mar. 3—Elkhart, Ill., State bank. 15—Wanatah, Ind., Julius Conitz, banker. 20—Americus, Ga., People's bank; $30,000. Apr. 4—St. Paul, U. S. Saving & Loan Co.; $800,000. 24—Algonac (Mich.) Banking Co.'s bank; $32,000. Jun. 3—Chicago, John A. & Alexander Davidson, marble contractors; $1,391,838. 13—Charleston (S. C.) Exposition Co., placed in receivers' hands; $450,000. 30—Murdock, Neb., German state bank; $37,000. Jul. 3—New York city, M. P. Anderson, real estate operator; $1,535,212. 29—Brooklyn, N. Y., Malcolm Brewing Co.; $800,000. Aug. 16—Elgin, Ill., Obadiah Sands Butter corporation, $445,000. 20—Cleveland, O., Forward Reduction Co., booming Texas oil; $500,000. 24—Elnora (Ind.) bank; $10,000. Sep. 2—New York, American bicycle trust. Oct. 7—Oto, Ia., bank of F. H. Cutting & J. T. Willett; $20,000. 16—New York, Gillman, Son & Co's banking house; $200,000. Nov. 5—Richmond, Va., Leon L. Strause, leaf tobacco; $300,500. 13—Boston, Central national bank. Dec. 8—Omaha, W. H. Bennett Co.'s department store.

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BUSINESS FAILURES.

Jan. 10—Cleveland, O., Euclid Trust & Savings Co.; $1,500,000. 11—Painesville, O., People's bank; $173,000. 14—Chicago, Geo. H. Phillips, "corn king," fails for second time in 7 months. 17—Albany, Ga., Commercial bank; $123,000. 28—Bellwood, Neb., Platte Valley state bank. Feb. 10—Detroit, Mich., City savings bank, on account of shortage of Vice President Frank C. Andrews. 25.—Belmont (O.) national bank. 26—Burnett, Tex., private bank of W. H. Westfall & Co. Mar. 3—Elkhart, Ill., State bank. 15—Wanatah, Ind., Julius Conitz, banker. 20—Americus, Ga., People's bank; $30,000. Apr. 4—St. Paul, U. S. Saving & Loan Co.; $800,000. 24—Algonac (Mich.) Banking Co.'s bank; $32,000. Jun. 3—Chicago, John A. & Alexander Davidson, marble contractors; $1,391,838. 13—Charleston (S. C.) Exposition Co., placed in receivers' hands; $450,000. 30—Murdock, Neb., German state bank; $37,000. Jul. 3—New York city, M. P. Anderson, real estate operator; $1,535,212. 29—Brooklyn, N. Y., Malcolm Brewing Co.; $800,000. Aug. 16—Elgin, Ill., Obadiah Sands Butter corporation, $445,000. 20—Cleveland, O., Forward Reduction Co., booming Texas oil; $500,000. 24—Elnora (Ind.) bank; $10,000. Sep. 2—New York, American bicycle trust. Oct. 7—Oto, Ia., bank of F. H. Cutting & J. T. Willett; $20,000. 16—New York, Gillman, Son & Co's banking house; $200,000. Nov. 5—Richmond, Va., Leon L. Strause, leaf tobacco; $300,500. 13—Boston, Central national bank. Dec. 8—Omaha, W. H. Bennett Co.'s department store.

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BUSINESS FAILURES.

Jan. 10—Cleveland, O., Euclid Trust & Savings Co.; $1,500,000. 11—Painesville, O., People's bank; $173,000. 14—Chicago, Geo. H. Phillips, "corn king," falls for second time in 7 months. 17—Albany, Ga., Commercial bank; $123,000. 28—Bellwood, Neb., Platte Valley state bank. Feb. 10—Detroit, Mich., City savings bank, on account of shortage of Vice President Frank C. Andrews. 25—Belmont (O.) national bank. 26—Burnett, Tex., private bank of W. H. Westfall & Co. Mar. 3—Elkhart, Ill., State bank. 15—Wanatah, Ind., Julius Conitz, banker. 20—Americus, Ga., People's bank; $30,000. Apr. 4—St. Paul, U. S. Saving & Loan Co.; $800,000. 24—Algonac (Mich.) Banking Co.'s bank; $32,000. Jun. 3—Chicago, John A. & Alexander Davidson, marble contractors; $1,391,835. 13—Charleston (S. C.) Exposition Co., placed in receivers' hands; $450,000. 30—Murdock, Neb., German state bank; $37,000. Jul. 3—New York city, M. P. Anderson, real estate operator; $1,535,212. 29—Brooklyn, N. Y., Malcolm Brewing Co.; $800,000. Aug. 16—Elgin, Ill., Obadiah Sands Butter corporation, $445,000. 20—Cleveland, O., Forward Reduction Co., booming Texas oil; $500,000. 24—Elnora (Ind.) bank; $10,000. Sep. 2—New York, American bicycle trust. 30—Trenton, N. J., National Salt Co. ("salt trust"); $300,000. Oct. 7—Oto, Ia., bank of F. H. Cutting & J. T. Willett; $20,000. 16—New York, Gillman, Son & Co's banking house; $200,000. Nov. 5—Richmond, Va., Leon L. Strause, leaf tobacco; $300,500. 13—Boston, Central national bank. Dec. 8—Omaha, W. H. Bennett Co.'s department store.

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BUSINESS FAILURES.

Jan. 10—Cleveland, O., Euclid Trust & Savings Co.; $1,500,000. 11—Painesville, O., People's bank; $173,000. 14—Chicago, Geo. H. Phillips, "corn king," fails for second time in 7 months. 17—Albany, Ga., Commercial bank; $123,000. 28—Bellwood, Neb., Platte Valley state bank. Feb. 10—Detroit, Mich., City savings bank, on account of shortage of Vice President Frank C. Andrews. 25.—Belmont (O.) national bank. 26—Burnett, Tex., private bank of W. H. Westfall & Co. Mar. 3—Elkhart, Ill., State bank. 15—Wanatah, Ind., Julius Conitz, banker. 20—Americus, Ga., People's bank; $30,000. Apr. 4—St. Paul, U. S. Saving & Loan Co.; $800,000. 24—Algonac (Mich.) Banking Co.'s bank; $32,000. Jun. 3—Chicago, John A. & Alexander Davidson, marble contractors; $1,391,838. 13—Charleston (S. C.) Exposition Co., placed in receivers' hands; $450,000. 30—Murdock, Neb., German state bank; $37,000. Jul. 3—New York city, M. P. Anderson, real estate operator; $1,535,212. 29—Brooklyn, N. Y., Malcolm Brewing Co.; $800,000. Aug. 16—Elgin, Ill., Obadiah Sands Butter corporation, $445,000. 20—Cleveland, O., Forward Reduction Co., booming Texas oil; $500,000. 24—Elnora (Ind.) bank; $10,000. Sep. 2—New York, American bicycle trust. 30—Trenton, N. J., National Salt Co. ("salt trust"); $300,000. Oct. 7—Oto, Ia., bank of F. H. Cutting & J. T. Willett; $20,000. 16—New York, Gillman, Son & Co's banking house; $200,000. Nov. 5—Richmond, Va., Leon L. Strause, leaf tobacco; $300,500. 13—Boston, Central national bank. Dec. 8—Omaha, W. H. Bennett Co.'s department store.