21967. Bradford Bank (Bradford, VT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
February 1, 1898
Location
Bradford, Vermont (43.993, -72.129)

Metadata

Model
gpt-5-mini
Short Digest
d4e85316

Response Measures

None

Description

Articles (Feb 1898) state the bank was enjoined from business and James B. Hale appointed receiver; doors closed and interest on deposits stopped Feb 1, 1898. No article describes a depositor run. By 1903 receiver had paid dividends (60%) — indicates bank remained in receivership rather than reopening as a going bank.

Events (2)
1. February 1, 1898 Receivership
Newspaper Excerpt
The Bradford bank is in the hands of James B. Hale, receiver. ... At the request of Hosea Manr, inspector of finance, Judge Tyler enjoined the bank from further business and appointed James B Hale ... receiver. The doors were closed Tuesday evening. The report ... was to be made to the stockholders Tuesday and would show that the bank was solvent. ... The depositors and creditors of the Bradford bank have received 60 per cent in dividends since a receiver was appointed Feb. 1, 1898, but no dividend was declared the past year (1903).
Source
newspapers
2. February 1, 1898 Suspension
Cause
Government Action
Cause Details
Inspector of finance requested injunction; judge enjoined the bank from further business and appointed a receiver (court action).
Newspaper Excerpt
Bradford Bank is in the hands of James B. Hale, receiver. ... It means second that interest stops on all deposits Feb. 1st, and that depositors must wait for their money until the assets of the bank are converted into cash.
Source
newspapers

Newspaper Articles (5)
1. February 4, 1898 The United Opinion Bradford, VT
Article from The United Opinion, February 4, 1898

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Article Text

ager; S. A. Blodgett, secretary; O. D. Eastman, M. D., treasurer; Judge Hall, auditor; Drs. Hatch and Eastman, med- ical examiners; Hon. Wm. A. Lord of Montpelier, E. W. Smith, Esq., of Wells River, and Geo. A. Dickey, Esq., of Bradford, legal advisors. This society was organized and incorporated by the legislature and has passed the experi- mental period. We are informed that death benefits are paid promptly which is the best evidence of honesty of pur- pose and soundness of management. Our friend, C. C. Day of Winchen- don, Mass, has sent us for deposit in the Tenney Memorial Library a valu- able document, the same being a well- preserved copy of the New Hampshire Intelligencer, printed in Haverhill, N. H., Wednesday, Oct. 19, 1825, being Vol. 5, No. 256 of that paper. A large space in the paper is occupied by a statement of Erastus Fairbanks, Esq., of St. Johnsbury, relating to his prosecution by Dr. Whipple of Went- worth. Mr. Fairbanks was traveling, on the evening of August 19, 1825, on the Mayhew Turnpike about one mile below Flander's Tavern in Plymouth with a two horse wagon loaded. Dr. Whipple approached from the opposite direction, driving at a high rate of speed in a two wheeled sulkey. Mr. Fairbanks turned out as the turnpike law directed, but not quick enough to avoid a collision. The doctor was thrown out and the sulkey broken. The doctor was not injured except in his sulkey and his feelings. Dr. Whipple had the future governor of Vermont at his mercy and put the thumb screws to him to the tune of about $16.00. On the team with Mr. Fairbanks was Ham- lin Paddock of St. Johnsbury. This old paper is particularly valuable for having a very full and complete market report. The paper is a gem throughout. It contains an elaborate advertisement of Prentis Knight opening his tailor- ing extablishment in Haverhill as well as many notices of land sales for taxes. From the West Burke items of the St. Johnsbury Republican we clip the following item. Mr. Hoffman was a resident of this town several years, dur- ing which time he was section boss Another one of our citizens has left us for a home in the great beyond. Nathan Hoffman died of pneumonia last Thursday after only a week's illness. The funeral was held Saturday afternoon in the Uni- versalist church, Rev. J. C. Bodwell offi- ciating assisted by the Odd Fellows to which Mr. Hoffman belonged. The M. E. choir furnished the music. Beautiful flowers adorned the casket and many followed his remains to their silent resting place. Mr. Hoffman has been a worthy resident of our village for many years and will be much missed. He leaves a widow and daughter, Mrs. Goldwaithe of Spring- field, Mass., who have the sympathy of the community. Remember that on the night of Feb. 22d, Washington's Birthday, the Ten- ney Memorial Library Trustees will have a chicken pie supper and enter- tainment for the benefit of the Library. It is hoped to secure the services of a good lecturer for that evening. Pastor's theme at the Methodist church next Sunday morning "Reho- both," evening "Hold fast the crown." We are indebted to A. K. Dame a former Newbury boy, now a successful lawyer in Nebraska for an illustrated edition of the World-Herald, Omaha, showing splendor and magnitude of the "Trans Mi-sissippi and Interna- tional Exposition" to be held at Oma- ha, June 1 to Nov. 1, 1898. Rev. L. P. Tucker of Northfield will lecture in the Methodist church on Friday evening, Feb. 11th, at 7.30 o'clock, subject, "A day and a night with a mummy." Mr. Tucker is too well known as a pulpit orator to need special mention. Who ever hears him on this interesting subject will get val- ue received. The lecture is under the patronage of the Epworth Literary So- ciety. No admission fee; a collection will be taken; every one cordially in- vinted. # The D. A. R. The meeting of the D. A. R. in the vestry last Friday evening was success- ful in every feature. A large audience gathered and were entertained royally. The historical paper given by Miss Caroline Lang, was pronounced by all who heard it as very interesting and very instructive, showing the connec- tion between the daughters and their revolutionary sires, and the prominent places occupied by them in the days when Vermont's early history was made. Jerome and Mrs. Hale and Uncle Ed. Davenport know how to keep tavern. At their hostelry you are well received, well fed (especially if it's Uncle Ed.'s vegetable hash day), and well lodged. If you attend their annual Wednesday, February 9th, in addition to these im- portant items you will enjoy a rich musical treat, and have a good time generally. Mrs. Isa B. Chamberlin of Bradford has bought the Glover house in this village. On Friday last Lucien Peach appear- ed before the Supreme Court at Mont- pelier and received a sentence to the state prison for six years. His case came up to the Supreme Court on ex- ceptions from the Windsor County court where he was tried for burglar- izing a house. Bradford Bank is in the hands of James B. Hale, receiver. This means first that if Mr. Hale gives these mat- ters the same care, push and good judg- ment that he has his mercantile busi- ness, he is the right man in the right place. It means second that interest stops on all deposits Feb. 1st, and that depositors must wait for their money until the assets of the bank are converted into cash. It means third that the stockholders should co-operate with the receiver and render all assist- ance in the cause of the troubled bank.

2. February 4, 1898 St. Johnsbury Caledonian Saint Johnsbury, VT
Article from St. Johnsbury Caledonian, February 4, 1898

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No social announcement of the present season has caused a greater flutter of surprise in society circles of Boston than the news of the engagement of the noted artist, Robert Gordon Hardie of Brattleboro. and New York city, and Mrs. Caroline Hall Washburn, a prominent societv woman and journalist of Boston. While the formal announcement has not yet been made, and will not be for s Veral weeks, it is known to many of Mrs. Washburn's friends, and already congratulations are beginning to pour in upon her. The Bradford bank is in the hands of receivers. At the request of Hosea Manr, inspector of finance, Ju Ige Tyler enjoined the bank from further business and appointed James B Hale of Newbury, late president of the bank. receiver. The doors were closed Tuesday evening. The report of the commitee, who have been examining the condition of the institution. was to be made to the stockholders Tuesday and wou'd show that the bank was solvent. After charging off the bad debts here is still enough to make the depositors sate, though the closing of the bank is a hard blow to the village.

3. February 11, 1898 The United Opinion Bradford, VT
Article from The United Opinion, February 11, 1898

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# FAIRLEE. Robert Donahue has taken the contract to move J. B. Peckett's boat house. The object is to locate it in deeper water and by moving it 100 feet south-west and raising it two feet. Mr. John Donahue and his son John are to assist and when completed with two feet of solid plank wall will be a model boat house. Mrs. Walter Rugg has been very sick but is better now. H. Bythrow has just completed laying a hard wood floor in the drug store. There were 122 out to church last Sabbath and 65 to Sunday school. Mr. Dalton of Montpelier, agent for the celebrated Estey organ, was in town setting up organs. F. E. Hiland has been in town taking pictures. Mr. and Mrs. Harry Minard from Chicago have been in town visiting Mrs. F. W. Pierce, her niece. The Paragon Club took $30 at their entertainment and promenade at Orford at the time Mrs. Mixer recited, and the Club wishes to extend their thanks to the people of Orford, Orfordville, Lyme, Bradford and Thetford for their liberal patronage. The music by Beal's orchestra was very fine. The Club held another promenade and oyster supper at the Town Hall last Wednesday. There are many sympathizers as well as mourners in Fairlee for the suspension of the Bradford Bank for it is a public institution that was much patronized by the towns near Bradford, but all are much pleased with the selection of Mr. Hale as the one to settle the affair, for the success of his own business will be a guarantee to the depositors of a speedy and just result. The writer's first business with the bank was in Nov. 30, 1876, at which time it took a two-cent revenue stamp to make it negotiable, and the continuance of patronage of the bank since the above date has made it seem like a local friend. Last Saturday evening was the event of a gathering where about 150 took part to help celebrate the twenty-fifth anniversary of the marriage of Mr. and Mrs. Milo Jenkins. The presents that were selected as souvenirs by their many friends spoke of the very kindly and neighborly relations in which Mr. and Mrs. Jenkins are held. First was a very fine side board, six dining chairs, one arm chair, one tea chair, silver service, silver and glass fruit dish, silver carving set, banquet lamp; pair towels, Mr. and Mrs. J. Holmes; lemonade set, Mr. and Mrs T. J. Albee. The presentation was made by Mr. Celley who referred to a similar gathering fifteen years ago, and responded to by Mr. Jenkins. A letter from Mr. and Mrs. Miles was read by Mrs. Lewis Morris, and a poem by Prof. H. S. Lovejoy. In conversation with Mr. Wilbur Morris we learned that his marriage took place in the same house in which Mr. Jenkins lives, that there were seven children in the Jenkins family, three boys and four girls, all living, and the sisters were all at the farm this last summer. Aunt Sarah Pierce, Mrs. Jenkins mother, who has been spared to the good, old age of 84 years, was present and assisted in making it pleasant for all. Their son from Dartmouth and daughter, Miss Maud, were at home. Cake and coffee were served and all returned home much pleased with the evening's entertainment. Hotel proprietor, George Dickey, is having his ice house filled and is also making arrangements for some advertising books for the lake the coming summer. D. Fulton of Bradford has just bought a $60 sleigh of H. P. Warren, making 26 sleighs that H. P. has sold this winter, and also has one or two more to sell. Walter Paine and Mr. Thurber have just bought new cornets and are taking lessons. The auditors meet at the Wynona House Saturday, Feb. 19th. Miss Helen Hill, who lived at F. C. Pierce's died last week. Mr. Clinton J. Rumwell, a medical student of Dartmouth, has been the guest of his friend, A. B. Wilmot, who is visiting his father, Mr. B. W. Wilmot. Charles Sanborn's wife died at Chelsea, Mass., Feb. 1st. Charlie has returned home. Miss Lillian Paine finishes her school this week. B. E. Adams has his barn up and shingled. Died in Chelsea, Mass., at the home of her father, Susan, wife of Charles A. Sanborn, aged 34 years, who left that place about four years ago for Fairlee, Vt. Interment at Providence, R. I.

4. July 8, 1898 The United Opinion Bradford, VT
Article from The United Opinion, July 8, 1898

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NEWBURY. the Methodist church on Sunday In pastor's theme will be "The neces- ferthe springs of water as well as sity soil. of In the evening vesper sertile with short address. The pastor the vice a cordial invitation to extends members and friends of the Congrega them church to worship with tional the absence of their pastor. during The sacrament of the Lord's supper at announced will be postponed. will preach Rev. and G. South H. McDougal Newbury in exchange with West Rev. W. H. White. Word is given out that Prof. Chas prinwill not return to the L. Orton of the Town Central School at the school cipalship During the year Mr. Orton he made was many friends. head of our He attended strictly in to the his business and was liked Bethown room. Mr. Orton goes to salschool larger school with a better el to a We voice our community in wishing ary. Mr. Orton success. court is getting back into County style of accommodating every court the old Judge Start adjourned that the body, for two weeks so at Chelsea attorney, high baliff and lawyers jurors States do their haying and the pick the can their garden sass and is hoe out of early famuse. T hard his on first crop in Judge Start but rather to good retinue to be obliged two weeks. crowd the court so much important work into think the Newbury correspondent bushel I received something over a dehas letters asking him to purchase and alof books on Bradford Bank Receiver's posit inquiry as to the diviprogress, SO making and the probability Up of to a this dend in have the near written future. personal replies time date these I letters, I have neither to means to continue this corresponnor as nine-tenths of my correspon- return dence dents have forgotton to enclose I shall I wish to state that at any postage. any bank books mind, in not purchase unless I change my wants price which event I will make my upon known. As to the other matters I which I am frequently I am not interrogated the Receivwish to say that I do not know as to er's the counsellor, Receiver's ability to declare whose a have dividend. If the people a money is information in quarantine the Receiver The is right to source to draw upon. the Receiver proper is apparantly devoting hand his to the business in Re entire time until is apparent that imposed the and is untrue to the trust the ceiver him or that he is incompetent receiverin denunciations of his the bitter be withheld. From of ship should urged the importance first have if possible, the hateful and bank exsettling litigation in which the these would prove pensive was, and is, involved, believing the principal litigations to an easy and speedy adjustment as urged of bar the bank' affairs, admitted as often their imthe Receiver and until has it is found that the portance has not made a reasonable well in Receiver in this direction as stand as attempt all other directions, let us all by him. Will the republican town committee list of to Horace W. Bailey a adreport committee with post office dress? their This request applies to town's in Orange county only People in adjoining towns sulphur should that Montbello iron and / know springs are open for the public. Mr. and Mrs. Sam Merrill Holton with of Miss Wo McKinstry nd Mr. annual Fourth Mass., paid their head burn, visit to Newbury with of July at Sawyer's These pleasant far visits quarters are altogether too brief and between. The ushering in of the glorious its decorum. Fourth of July was unheard There of was in a dearth quiet and of the triumphant young Amer chin far as the ringing of bells, make music ica so and the tin pan band go to a proper celebration. Examiner Prichard school has ad- at a County for another summer S vertised for the first half of August. school b Randolph fact that the last year's be the It is Randolph a was conceeded to N at the state. This is a deserved debest in to Mr. Prichard and Every a compliment cided benefit to the pupils. teacher in Orange county should of avail inthemselves of these two weeks struction. A person beginning teachwithout any Normal preparation school. ing not miss the summer W should school directors know their business class If will see to it that a certain W they of their teachers do attend the summer school. P Cadet Chamberlin is home from the t N. U. for the summer vacation. Abner Bailey of Bailey Bros., LanJ caster, spent the Fourth at his home in Newbury. J The school board will at once begin on the Seminary building, e repairs off school room on the third th finishing This addition of a school room floor. necessity, it having been necessary deF is a some time to have one of the The for use the large hall. third floor partments in the Seminary building th not been changed and the carpenhas will find it much the same as when w ters old institution moved out in 1868. th an This the move on the part of the school board is progressive and commendaBr ble. The W. C. T. U. will give a Flower the pleasant lawn of James L. social on next Wednesday evening. la George and ice cream will be served The Cake public is cordially invited to at ch tend. Mrs. George is superintendent Flower Mission and all the he of the will be sent to Boston for the flowers benefit of the poor chiidren. This ta did a Godlike work last summer Union in the free distribution of re among, a class of people who Su otherwise flowers would have been deprived them Such a work should have are the of endorsement of every human beA. and Mrs. Fo ing. Edwin Marion Lexington Bayley with Miss returned to on after

5. October 28, 1903 St. Johnsbury Caledonian Saint Johnsbury, VT
Article from St. Johnsbury Caledonian, October 28, 1903

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Our Savings Banks. The annual report of the inspector of finance, Hon. Frederick S. Platt of Poultney, is just published and the statistics are for the year ending June 30, 1903. The report covers the statistics ol 22 savings banks and 20 trust companies. During the year the Bellows Falls Trust Company has begun bus iness. The depositors and creditors of the Bradford bank have received 60 per cent in dividends since a receiver was appointed Feb. 1, 1898, but no dividend was declared the past year. The receiver of the Randolph Savings Bank has settled his accounts and the depositors have received over 93 per cent of their claims and deposits. The amount of deposits held by the savings banks and trust companies was $44,628,148 77, which is $2 640,651.32 more than the same institutions held June 30, 1902. Ot these deposits the 22 savings banks held $31,119.186 48, and the trust companies $13,508 962 29 The number of deposi ors was 134,323, a a gain for the year of 5,794 The average amount of depositsto each depositor e June 30, 1903 was $332 24, as com. S pared with $326.67 June 30, 1902. An increase of average of $5.54. The total is resources of the savings banks, savings institutions and trust companies at close bl of business June 30, 1903, were $48 377, n 839.27. and exceeded the resources June se 30, 1902, by $2,981,025.48. The Citizens Savings Bank and Trust Company report 5278 depositors, of k which 4971 reside in this state and 307 s' are non resident. The total deposits are us $1,724,326.54. There are 134 deposit ors whose deposits exceed $1500 and the d amount of their deposits is $123,120 36 ciThe Passumpsic Savings Bank reports a. 6224 depositors, of which 5764 reside in this state and 460 are non-resident. Th istotal deposits are $1,611,289.11. Ther st are 110 depositors whose deposits ex in ceed $1500 and the amount of thei deposits is $154,212 59.