South Royalton Bank - South Royalton, VT

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: April 1, 1889*
Location: South Royalton, Vermont (43.821, -72.521)

Metadata

Model: gpt-5-mini
Short Digest: 2b78d3f1

Response Measures

None

Description

Article (Herald and News, 1889-04-25) states the suspension of the South Royalton Bank occurred here last week. No run is mentioned and no information about reopening is provided. I classify as suspension_closure because the piece describes a recent suspension with no reopening reported; this is somewhat uncertain due to lack of follow-up in the provided text.

Events (1)

1. April 1, 1889* Suspension

Cause Details: Article does not state cause of the suspension; only notes it had occurred the previous week.
Newspaper Excerpt: The most serious financial disaster this town and vicinity has experienced since the suspension of the South Royalton Bank occurred here last week
Source: newspapers

Newspaper Articles (1)

1. April 25, 1889 Herald and News Randolph, VT

Article from Herald and News, April 25, 1889

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Article Text

# SOUTH ROYALTON NEWS. Miss Susan Lamb has been on the sick list for the past week. Wm. H. Martin and wife attend the Centennial at New York. Thus far April has been a very pleasant month and farmers are commencing their spring's work. Orville Bixby Post have changed their regular meetngs to the Saturday evenings on or before the full moon. Miss Mattie Prentiss of Chelsea, P. Q. is sick at E. Bixby's. She has been attending school at St. Johnsbury for the past year. Mr. Jessie Smith of Pawtucket, R. I. is very sick with pneumonia. He came here a week ago in company with a friend to buy horses. Miss Jessie Couthoui of Chicago will give a recitation at the Cong'l church here Friday evening, Apr. 26th. This will be a rare opportunity to hear one of the most celebrated lady elocutionists in the country, and one of the few who give entertainments alone with success. Her indorsement to us was from Hon. Henry Ballard of Burlington. The most serious financial disaster this town and vicinity has experienced since the suspension of the South Royalton Bank occurred here last week in the failure of M. S. Adams. It will prove very serious and far reaching in its effects as there are so many involved to a greater or less extent. The estimate places the liabilities at $60,000 and the assets at $30,000, about $15,000 preferred. Although the failure has been anticipated for some time, yet it was hoped the crisis would not come so early. Very many had lent a helping hand, hoping that he would be able to pull through, but by the depression in the lumber market the past year and the enormous expense in carrying the load he was unable to meet his papers. The failure will most seriously affect those of small means who have loaned their small amounts, not needed for immediate use, and others who have signed papers for him.