Granite Trust Company - Hardwick, VT

Bank Information

Episode Type: Suspension → Reopening
Bank Type: trust company
Start Date: March 30, 1933
Location: Hardwick, Vermont (44.505, -72.368)

Metadata

Model: gpt-5-mini
Short Digest: 66ac3a8e

Response Measures

None

Description

Conservator appointed by the State Bank Commissioner; statement (1933-03-30) indicates temporary restrictions with reorganization efforts and permission to open new accounts — indicates a suspension due to government action with intent to reorganize/reopen. No explicit run mentioned in articles.

Events (1)

1. March 30, 1933 Suspension

Cause: Government Action
Cause Details: Conservator appointed under authority of the State Bank Commissioner; temporary restrictions on former accounts while reorganization is pursued.
Newspaper Excerpt: As Conservator of the Hardwick Savings Bank and Granite Trust Company...Under authority of the State Bank Commissioner the Conservator is permitted to open new accounts...All depositors may draw without restriction. For the present no withdrawals from former accounts are allowed.
Source: newspapers

Newspaper Articles (1)

1. March 30, 1933 The Hardwick Gazette Hardwick, VT

Article from The Hardwick Gazette, March 30, 1933

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Article Text

A STATEMENT As Conservator of the Hardwick Savings Bank and Granite Trust Company, I wish to make a statement: Under authority of the State Bank Commissioner the Conservator is permitted to open new accounts with such deposits kept in cash or on deposit with a strong correspondent bank and member of the Federal Reserve System. It is hoped that all depositors having immediate need of checking accounts will avail themselves of this convenience /which provided for their absolute safety. All depositors may draw without restriction. For the present no withdrawals from former accounts are allowed. in this paper. As stated elsewhere strenuous efforts are being put forth to evolve reorganization and one will be submitted shortly. It will be of great help if borrowers will kindly make every effort to bring notes to an up-to-date condition at once and make payments to the bank. L. RAY THURSTON, Conservator.