Randolph National Bank - Randolph, VT

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 2274
Charter Number: 2274
Start Date: June 11, 1900
Location: Randolph, Vermont (43.925, -72.666)

Metadata

Model: gpt-5-mini
Short Digest: 1ab5564d

Response Measures

Books examined

Other: Receiver appointment mentioned; bank had losses from western securities leading to insolvency.

Description

Article (Barre Evening Telegram, 1900-06-11) describes unfounded rumors and a few small withdrawals from Randolph National Bank; inspectors found affairs sound. No clear suspension or permanent closure; a receiver mention appears to refer to a different savings bank, not Randolph National. Classified as a minor rumor-driven run with the bank remaining open.

Events (2)

1. June 7, 1875 Chartered

Source: historical_nic

2. June 11, 1900 Run

Cause: Rumor Or Misinformation
Cause Details: Unfounded rumors and reports of large withdrawals prompted small, precautionary withdrawals; inspectors found no suspicion of misconduct (depreciation of western securities noted but improving).
Measures: Inspection and public statements by inspector/trustees reassuring depositors; no special suspension or payment restrictions mentioned.
Newspaper Excerpt: Nearly all of which are utterly unfounded. ... A very small amount was received Friday morning, and a few small sums paid out.
Source: newspapers

Newspaper Articles (1)

1. June 11, 1900 Barre Evening Telegram Barre, VT

Article from Barre Evening Telegram, June 11, 1900

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Article Text

usual in such cases. Nearly all of which are utterly unfounded. All but one of the trustees, or members of their families, had deposits in the bank. Only $395 all told had been drawn out by all of them since January 1,1 and many times that sum had been deposited by them and is still in the bank. Several parties were reported to have drawn out large sums Friday, bnt investigation shows that this was not SO. A very small amount was received Friday morning, and a few small sums paid out. The inspector, as stated above, and others who have examined the affairs of the bank, believe that the depositors will be paid very nearly in full and will lose but little. There is not the slightest suspicion of anything wrong in the affairs of the bank. The depreciation of certain western securities, was the sole cause and these have been improving during the past six months, and may be paid in full if crops and business continue good in Nebraska. Much sympathy is felt by all for Mr. B. T. Lombard, who has been the treasurer of the bank from the start, but who had no voice in the investment of the funds which was all done by a committee of the trustees, who used their best judgment. The losses of the bank in the eleven years have been slight compared with that of many of the prominent business men of the village. The Randolph National bank should not be confounded with the Savings bank as it is entirely separate and distinct, and is one of the strongest in the state. It is understood that Hon. C. H. Maxham was tendered the appointment of receiver this afternoon. He is one of the leading business men of Windsor county and one of the assistant judges of the Windsor county court.