22076. Vermont National Bank (St Albans, VT)

View Charter #1583 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
1583
Charter Number
1583
Start Date
August 6, 1883
Location
St Albans, Vermont (44.811, -73.083)

Metadata

Model
gpt-5-mini
Short Digest
f0a06e87

Response Measures

None

Receivership Details

Depositor recovery rate
80.2%
Date receivership started
1883-08-09
Date receivership terminated
1892-06-06
OCC cause of failure
Losses
Share of assets assessed as good
16.3%
Share of assets assessed as doubtful
68.2%
Share of assets assessed as worthless
15.5%

Description

The Vermont National Bank of St. Albans suspended/closed in early August 1883 after the financial failure of its president Bradley Barlow and large loans to his railroad ventures. Comptroller Knox and Governor Hendee's examination, and appointment of a receiver (George W. Hendee) indicate formal suspension and receivership. No discrete depositor run is described in the articles; problems are bank-specific (bad loans/insider exposure). The bank remained in receivership and paid dividends in 1884 (liquidation process), not a resumption of normal banking operations.

Events (5)
1. October 11, 1865 Chartered
Source
historical_nic
2. August 6, 1883 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank heavily loaned to president Bradley Barlow's Southeastern railroad; Barlow failed and his property was involved, leaving the bank insolvent or unable to meet demands; directors had advanced large sums on railroad bonds of little market value.
Newspaper Excerpt
The Vermont National Bank of St. Albans, Bradley Barlow, President, closed its doors this morning
Source
newspapers
3. August 9, 1883 Receivership
Source
historical_nic
4. August 9, 1883 Receivership
Newspaper Excerpt
The Comptroller has appointed George W. Hendee of Morrisville receiver of the suspended bank. Comptroller Knox's statement ... the suspended bank will be safe / a receiver will undoubtedly be appointed when the examiner has completed his work.</code></pre></p> (Excerpted lines indicate appointment of receiver and investigation.)</p> <p class=MsoNormal>
Source
newspapers
5. January 2, 1884 Other
Newspaper Excerpt
The suspended Vermont National Bank began yesterday to pay its first dividend to depositors, amounting to 12 1/2 per cent.
Source
newspapers

Newspaper Articles (24)
1. August 7, 1883 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, August 7, 1883

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BUSINESS FAILURES. A Vermont Bank Goes Up theSpout-Too Much Kailroad. Sr. ALBANA, VT., August 6.-The Vermont National Bank of St. Albans, Bradley Barlow, President, closed its doors this morning, causing great consternation among depositors. Barlow is also Presidentand owner of the Southeastern railway, Canada, and it is understood he failed, and that all his property is involved, besides a considerable amount loaned by banks and individuals to assist him in his railroad management. Barlow says he has assigned all his property to the bank for the benefit of the depositors, and that his failure is due to the unsuccessful result of his attempt to sell the Southeastern railway to the

2. August 7, 1883 Daily Republican Wilmington, DE
Article from Daily Republican, August 7, 1883

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... Collapse of n National Bank. The Vermont National Bank at St. Albans, Vermont, suspended yesterday in consequence of the embarrassment of its President, Bradley Barlow, who is also President of the Southcastern Railroad. The bank has discounted about $325,000 for that road, and has also made loans on the Boston, Montreal and Portland road. The deposits of the bank are stated to be about $320,000, and Barlow thinks they will be paid in full. Barlow has invested $1,000,000 in the Southeastern road. The St. Alban's Trust Company has also suspended, its President, Lawrence Brainerd, having been an endorser on Barlow's paper.

3. August 9, 1883 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, August 9, 1883

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THE ST. ALBANS FAILURE. The Trust Company Likely to Pay Depositors in Full-Mr. Barlow Trying to Sell the Southeastern Railway. ST. ALBANS, Aug. 8.-There is nothing new today regarding the affairs of the Vermont National Bank and Trust Company. Treasurer Burgess states that from what he knows of its condition the Trust Company undoubtedly will be able to pay depositors fully in time, but it could not now stand any extensive run. He could not say when they would be able to resume. President Brainard said today he was doing all in his power to make depositors secure and declared all his transactions had been straightforward. The whole question seems to be whether Barlow's creditors will push Brainard to the wall or be lenient. Barlow left for New York last night and it is reported he expects to obtain relief by the dis posal of the Sontheastern. It is claimed however by the Montreal papers that he is handicapped by an arrangement with the Canadian Pacific, which virtually owns the Southeastern, and no move can be made without its consent. A Montreal paper says an offer of $4,000,000 has been made for the Southeastern exclusiva of the rolling stock and it is understood matters will be soon arranged by this offer being accepted. It is believed here that if the sale of the road can be negotiated the depositors in the National Bank will be safe. The only new point in the Barlow failure is that Finance Inspector Dewey's visit this afternoon resulted in a brief investigation and the deferring of further examination of the Trust Company by him till the National Bank inevstigation is completed. Before he left town, however, the inspector spoke guardedly but somewhat encouragingly of the depositors' prospects, announcing his conviction that if matters were not forced to a settlement the Trust Company will pay dollar for dollar or nearly that portion. A receiver will undoubtedly be appointed when the examiner has completed his work.

4. August 9, 1883 Daily Globe Saint Paul, MN
Article from Daily Globe, August 9, 1883

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BUSINESS TROUBLES. The Effect of the Recent Failures on Business Throughout New England. ST. ALBANS, Vt., Aug. 8.-Regarding the affairs of the Vermont National Bank and Trust company, Treasurer Burgess states from what he knows of its condition that the Trust company undoubtedly will be able to pay its depositors fully in time but could not now stand any extensive run. He could not say when they would be able to resume. President Brainard said he was doing all in his power to make the depositors secure, and declared that all his transactions were straightforward. The whole question seems to be whether Barlow's creditors will push Brainard to the wall. or are lenient. Barlow has left for New York. It is reported that he expected to obtain relief by the disposal of Southeastern. It is claimed, however, by Montreal papers that he is handicapred by an arrangement with the Canadian Pacific, which virtually owns the Southeastern, and no move can be made without its consent. A Montreal paper says an offer of $4,000,000 was made for the Southeastern road, exclusive of the rolling stock, and it is understood that matters will be soon arranged by this offer being accepted. It is believed here if the sale of the road can be negotiated the depositors in the National bank will be safe. Finance Inspector Dewey, who is examining the Trust company's books, is in clined to the belief that the depositors will be cared for, as he thinks the only trouble is Brainard's endorsement for Barlow, which may be met without wrecking the company. No serious trouble is reported yet among the St. Albans merchants, though some have been hard pressed on account of dealing in checks on the Vermont National. The First National is in condition to help bridge over the disaster, and can easily raise $200,000. The financial standing of the owners puts them to trouble, on account of the extra demand beyond question. Gov. Hendees' examination of the Vermont National bank is not yet completed, but nothing has been found to change the opinion that the depositors will be paid fully. BOSTON, Aug. 8.-Henry Daniels, stock broker, has suspended in consequence of the failure of Watson, the stock broker, who failed Tuesday. The liabilities of Daniels are small. Late this afternoon the business friends of Watson came to his assistance and it is hoped an arrangement can be made which will enable him to resume to-morrow.

5. August 9, 1883 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN
Article from Memphis Daily Appeal, August 9, 1883

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BUSINESS TROUBLES. The Vermont National Bank Embezale, meat. ST. ALBANS, VT, August 8 - Regarding the affair of the Vermont National Bank and Trust Company, Treasurer Burg-88 states that from what he knows of its condition the Trust Company will undoubtedly be able 10 pay depositors fully in time, but could not now stand any extensive run. He could not eay when they would be able to resume. President Brainard said he WAS doing all in his power to make depositore 86cure, and declared all h's transictions to be straightforward. The whole question ap. pears to be whether Birlow's creditors will push Brainard to the wall or be lenient.

6. August 9, 1883 National Republican Washington, DC
Article from National Republican, August 9, 1883

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Business Failures. ST. ALBANS, VT., Aug. 8.-There is nothing new to-day regarding the affairs of the Vermont National Bank and Trust company. Treasurer Burgess states that from what he knows of its condition, the trust company will undoubtedly be able to pay its depositors fully in time, but that it could not now stand an extensive run. He could not say when they would be able to resume. President Brainard said to-day he was doing all in his power to make the depositors secure, and declared that all his transactions had been straightforward. The whole question seems to be whether Barlow's creditors will push Mr. Brainard to the wall or are disposed to be lenient. Barlow left for New York last night, and it is reported that he expects to obtain relief by the disposal of Southeastern railway stock. It is asserted, however, by the Montreal papers that he is handicaped by an arrangement with the Canadian Pacific company, which virtually owns the Southeastern, and no move can be made without its consent. A Montreal paper says an offer of $4,000,000 has been made for the Southeastern road, but exclusive of the rolling stock, and it is understood matters will be soon arranged by this offer being accepted. It is believed here that if the sale of the road can be made depositors in the national bank will be safe.

7. August 9, 1883 Daily Globe Saint Paul, MN
Article from Daily Globe, August 9, 1883

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BUSINESS TROUBLES. The Effect of the Recent Failures on Business Throughout New England. ST. ALBANS, Vt., Aug. 8.-Regarding the affairs of the Vermont National Bank and Trust company, Treasurer Burgess states from what he knows of its condition that the Trust company undoubtedly will be able to pay its depositors fully in time but could not now stand any extensive run. He could not say when they would be able to resume. President Brainard said he was doing all in his power to make the depositors secure, and declared that all his transactions were straightforward. The whole question seems to be whether creditors will Barlow's push Brainard to the wall. or are lenient. Barlow has left for New York. It is reported that he expected to obtain relief by the disposal of Southeastern. It is claimed, however, by Montreal papers that he is handicapred by an arrangement with the Canadian Pacific, which virtually owns the Southeastern, and no move can be made without its consent. A Montreal paper says an offer of $4,000,000 was made for the Southeastern road, exclusive of the rolling stock, and it is understood that matters will be soon arranged by this offer being accepted. It is believed here if the sale of the road can be negotiated the depositors in the National bank will be safe. Finance Inspector Dewey, who is examining the Trust company's books, is in clined to the belief that the depositors will be cared for, as he thinks the only trouble is Brainard's endorsement for Barlow, which may be met without wrecking the company. No serious trouble is reported yet among the St. Albans merchants, though some have been hard pressed on account of dealing in checks on the Vermont National. The First National is in condition to help bridge over the disaster, and can easily raise $200,000. The financial standing of the owners puts them to trouble, on account of the extra demand beyond question. Gov. Hendees' examination of the Vermont National bank is not yet completed, but nothing has been found to change the opinion that the depositors will be paid fully. BOSTON, Aug. 8.-Henry - Daniels, stock broker, has suspended in consequence of the failure of Watson, the stock broker, who failed Tuesday. The liabilities of Daniels are small. Late this afternoon the business friends of Watson came to his assistance and it is hoped an arrangement can be made which will enable him to resume to-morrow.

8. August 10, 1883 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, August 10, 1883

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THE BARLOW FAILURE. Reported Purchase of the Southeastern Railway. The Condition of the Bank and Trust Company Still Unknown. MONTREAL, Aug. 9.-The Southeastern railway was purchased tc-day from Bradley Barlow by a syndicate composed of George H Chapman of the National Construction Company of New Jersey, Ashley Hibbard and Walter Shanley of Montreal and James Mitchell of London, Eng., for $3,800,000 cash. This will leave Barlow a surplus of about $350,000 after paying off all liabilities includng $1,400,000 to the Canadian Pacific road. This sale is considered a big euchre on the Canadian Pacific Company who supposed they controlled the Southeastern road, and cuts off their only connection with Boston and Atlantic ports. The purchasing syndicate is believed to represent the Grand Trunk and Central Vermont interests as Hibbard has been working against the Canadian Pacific all along. Chapman is here and M Intyre and Stephen of the Canadian Pacific have left for New York to interview Barlow. ST. ALBANS, Vt., Aug. 9.-Bradley Barlow returned from New York this morning, but refuses to give any information concerning the reported sale of the Southeastern road. He says however satisfactory arrangements are likely to be made soon. Comptroller Knox of Washington arrived to-day, and is examining the affairs of the bank and a definite statement of some kind is expected before morning. Later developements have tended to create a more hopefal feeling. A meeting of the directors of the Southeastern railroad will be called tan early date, and if Barlow was unsuccessful decisive steps will be taken asthe creditors are already pressing claims. It is stated a claim of nearly $2,000 is already entered against the Southeastern by a Montreal party on protested note. Considerable feeling exists against Brainard and the directors of the trust company for their seeming lack of knowledge of the company's affairs. One director acknowledged this morning he knew nothing about their business. The public feeling is that the funds have been handled in a careless manner to say the least. M. Stillman B. Allen, counsel for the Mesars. Copeland, read a statement which contained the following: The utter absense of any information as to the liabilities of the bank or estimates as to the value of securities for the loan of $319,000 the Southeastern creates a feeling of distrust and the statement is considered of no value. After four days the public looked for some reasonable statement as to the condition of the bank, and Comptroller Knox's announcement is far from satisfactory beause important facts are conspicuous by their absence. The effect of the statement on the Trust Company depositors is not salutary and pablic feeling is aroused to the highest pitch. Hundreds in town have waited vainly for a sign, and are now disposed to find much fault with Brainard and the directors because hardly a word has been vouchsafed them. The confession of the directors that they knew nothing about the company's business nor what was being done with the funds reveals a species of management over which the depositors are indignant. Brainard's intima. tion of a fav rable outcome is not backed by anything reliable and public sentiment is undoubtedly more severe denouncing his company than the other institution. It why the bank inspector Were not generally zant and the of State affairs understood fully examiner cogni- is not and more prompt to avert as much as in their the part disaster of the State power. A press is pretty outspoken on this point. The last development in the Vermont national bank matter is the alleged statement of of who has comptroller has amination. Gov. Hendee, The completed appointed the exGeo. W. Hendee of Morrisville receiver that of the suspended bank and gentleman enters on his duties at once. The dim uncertainty in which this not calculated to assure the who abounds is statement public, are not certain that it means anything. They can only gather from it what has been suspected all along, that the disposal of the Southeastern railroad or failure to sell, determines the whole matter. If the sale is made is before ,attachments are instituted there some reason for hope, otherwise there is not much. The uncertainity among business men and private depositors will be soon done away with should relief come soon. Public confidence has work hera for many months yet, people here are quite ready to give credit for good intention and moves in the right direction they will be exceedingly glad to have Barlow accomplish the sale. AN that Barlow has to say Tonight is that parties are now inspecting the road, but becau say nothing as to the prospects, A rumor via Montreal credits Gov. Fairbanks with a desire to get as much of the Southeastera as his road can utilize.

9. August 10, 1883 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, August 10, 1883

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BUSINESS TROUBLES. The St. Albans Bank and the Southeastern Railroad Affairs. ST. ALBANS, Vt., Aug. 9.-Bradley Barlow has returned from New York, but refuses to give any information concerning the reported sale of the Southeastern railroad. He says, however, that satisfactory arrangements are likely to be made soon. Comptroller Knox, of Washington, is examining the affairs of the bank. There is a more hopeful feeling. A meeting of directors of the Southeastern road will be called, and if Barlow is unsuccessful, decisive steps will be taken, as the creditors are already pressing claims. A claim for nearly $2,000 has already been entered against the Southeastern by a Montreal party on a protested note. Considerable feeling exists against Brainard and the Directors' Trust Company for their seeming lack of knowledge of the company's affairs. One director acknowledges that he knew nothing about their business. Public feeling is that the funds have been handled in a careless manner, to say the least. A Montreal telegram says: Three month ago Barlow was offered $3,750,000 for the road, but refused it. He wanted $4,000,000. McMullin, of this city, has entered action against the Southeastern Railroad Company for the recovery of a draft of $1,598.79 on the company which was allowed to go to protest. Governor Hendee has completed his examination of the Vermont National Bank, and Comptroller Knox authorizes the following: The bank holds about $100,000 in assets, in cash and notes, which will soon be available, and it is believed the remaining indebtedness will be liquidated from other assets and collateral, through negotiations now in progress. The Comptroller has appointed George W. Hendee. of Morrisville, receiver of the suspended bank. Comptroller Knox's statement is not satisfactory. Hundreds of people are in town waiting for a sign, and are now disposed to find much fault with President Brainard and the directors because hardly a word has been vouchsafed depositors. Mr. Barlow said, to-night, that parties are now inspecting the Southeastern railroad, but could say nothing as to the prospect of a sale.

10. August 10, 1883 Burlington Weekly Free Press Burlington, VT
Article from Burlington Weekly Free Press, August 10, 1883

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THE ST. ALBANS FAILURES. The failure of Bradley Barlow has long beencanticipated. It was generally understood that he had embarked all his resources in his Southeastern railroad, and the shaky financial character of that enterprise was widely known. But that Mr. Barlow's failure would lead to that of the Vermont National bank of St. Albans, of the St. Albans Trust company and of a man reputed as wealthy as Lawrence Brainerd, was wholly unexpected by the general "public. The combined failures must result in widespread loss and trouble, and will undoubedtly rank among the most disastrous in the history of the State. There are some points about them that demand examination. First, as to the National bank. This was for all intents and purposes Mr. Barlow's private property and he seems to have so regarded it. Of its capital stock of $200,000, he owned $187,000, leaving only an insignificant amount for the six gentlemen who with himself constituted the board of directors. The bank's deposits were. Mr. Barlow says, about $330,000. Mr. Barlow becoming financially involved, the directors advanced him ($319,000 on bonds of the Montreal, Portland & Boston railroad. The sum was very much larger than the capital of the bank and/almost'as as the entire amount of its doposits. The' Montreal, Portland & Boston railroad is a part of the Southeastern system and runs from Montreal to Sheldon, in this State. Its bonds have absolutely no market value whatever. They may intrinsically be worth par, but at the present moment they are absolutely valueless, and have been SO for a long time past. So, therefore, the directors of the bank appear to have advanced nearly all its funds, aside from its capital stock, on wild-cat securities to a man notoriously involved, financially. The result is that the bank is ruined, its capital is lost beyond all hope, and its depositors will have to endure a long delay and, probably, a final heavy loss. The whole thing shows the glaring evil of running a National bank on the one-man) principle. The case under consideration is not by any means the first on record, nor will it be the last, unless some decisive step is taken to remedy the matter. The man wl.o owns the bank names his own directors and they suffer him to manage the bank as he pleases. They haveno realinterest and presumably pay butslight attention to their official duties. On the other hand, the people see a list of prominent and responsible townsmen announced as directors of the bank, and their names give them confidence in the institution and they entrust their hard earnings to its care. And at last the explosion comes, and the people find that money has gone to the support of some reckless speculator and that the men in whom they trusted were mere dummies, simply giving the use of their names. Such a eystem of banking is a shame and a scandal, and it ought to be done away with. As to the St. Albans Trust company, its affairs have not, at the moment of writing, been made very clear. Mr. Lawrence Brainerd, its president, has made an assignment of all his property for its benefit, however, and from this it would look as if its funds, too, had gone into Mr. Barlow's ill-starred speculations. If such proves to be the case, the thing is even more flagrant than that of the National bank. The care of the money belonging to the working and poorer classes is a sacred trust, and its investment ought to be surrounded with every possible safeguard. Too great caution can not possibly be used. These facts are too familiar and too obvious for argument. And yet the managers of the St. Albans Trust company appear to have been as loose and careless in their methods

11. August 16, 1883 The Austin Weekly Statesman Austin, TX
Article from The Austin Weekly Statesman, August 16, 1883

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Trying to Secure Depositors. ST. ALBANS, Vt., August 8.-Regarding the affairs of the Vermont National bank and trust company, Treasurer Brainard stated from what he knows of its condition the company will undoubtedly be able to pay depositors fully in time, but could not now stand any extensive run. He could not say when they would be able to resume. Brainard said he was doing all in his power to make depositors secure.

12. August 17, 1883 The Iola Register Iola, KS
Article from The Iola Register, August 17, 1883

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THE EAST. THE Vermont National Bank of St. Albans, Bradley Barlow President, has closed its doors. Barlow is also President and owner of the Southeastern Railway of Canada and it is understood he has failed and that all of his property is involed, besides a considerable amount loaned by banks and individuals to assist him in his railroad management. The St. Albans Trust Company also suspended. Its President, Lawrence Brainard, who was a heavy indorser of Barlow's paper, made an assignment for the benefit of the Trust Company. NATHANIEL SMITH RICHARDSON, D. D., editor of the Church Guardian, New York City, was found dead in bed at his residence in Bridgeport, Conn., the other morning. His age was seventy-three. THE Western Nail Association met at Pittsburg, and after a full interchange of views on the condition of trade, it was decided to order a general resumption of the mills for a period of four weeks from the 13th instant. THE warehouses and wharves of the Knickerbocker Ice company, and stables of the company in Philadelphia burned recently. Forty-three horses and four mules suffocated or burned. Two thousand tons of ice were destroyed. The roof of the Philadelphia & Reading railway freight depot, adjoining, burned, and considerable freight was damaged by fire and water. Loss estimated at $50,000. COMPARATIVELY few of the railroad telegraph operators of the East obeyed the order of the Brotherhood Committee calling them out. Some left their desks, but the railroad companies asserted that the majority remained. In the Pittsburg Division of the Baltimore & Ohio road about one-third of the operators struck. FIFTY weavers in the Wonsocket, R. I., company's employ struck for more pay. They are getting 18½ cents a cut; they were offered 19½ cents, but demand 21 cents. A WARRANT was recently issued for the arrest of James Gaffey, an attendant at the asylum for the insane at Norristown, Pa., upon the charge of maltreating and causing the death of an inmate named Fiss. The trustees offered a reward of $500 for the arrest of Gaffey, who absconded. MRS. FANNY SPRAGUE, mother of the exGovernor, has accepted the offer of the Union Company, which bought her homestead, to lease it to her during life at one dollar per month. She accepted upon the advice of Governor Butler, ber counsel. MRS. WILLIAM G. FARGO, widow of the President of the American Express Company, was married in Buffalo, N. Y., recently to F. F. Fargo, formerly City Clerk. The second husband is no relation of the other Fargo family. THE jobbers and wholesale dealers in glass and crockeryware met at Pittsburg, Pa., recently, for the purpose of forming a national association. Delegates were pres ent from New York, Boston, Philadelphia, Baltimore, Chicago, St. Louis, Minneapolis, Leavenworth, St. Joseph, Omaha, St. Paul, Davenport and Pittsburg. JOHN FISHER and Miss Butler were drowned while boating at Quincy, Mass. THE Pennsylvania Legislature finally passed a Congressional Apportionment bill giving the Republicans seventeen and Democrats eleven Congressmen. JAMES STEEN, for wife murder, has been sentenced to be hanged at Pittsburg, Pa. BERNARD PHILLIPS, a stock broker and a prominent politician, of Mauch Chunk, Pa., was arrested recently charged with the embezzlement of about $800 entrusted to him by J. P. Sutton, President of the

13. August 29, 1883 Daily Globe Saint Paul, MN
Article from Daily Globe, August 29, 1883

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The St. Albans Financial Difficulties. ST. ALBANS, Aug. 28.-Receiver Hendee, of the Vermont National bank, returned from Canada to-day. He said he had several conferences with the directors of the Southeastern, Montreal and Portland & Boston railway and also with Representative Chapman of the syndicate. He confirms the statement made by Barlow, to the effect that a New Jersey syndicate has agreed to buy the Southeastern railroad subject to certain conditions which he is now endeavoring to bring about. C. W. Riche, receiver of the St. Albans Transportation company states that he is convinced already that there are available assets sufficient to pay the depositors fully 30 per cent. of their claims. He is unable to form an opinion as to what may be realized hereafter from the effects now considered doubtful, but will attempt to form judgment respecting them as nearly as possible and communicate the same to the depositors with a detailed statement.

14. September 21, 1883 Daily Globe Saint Paul, MN
Article from Daily Globe, September 21, 1883

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# Negotiations Regarding the Southeastern Railway. Receiver Hendee, of the Vermont National bank of St. Albans, is in Montreal for the purpose of conferring with parties acting in the interest of the Canadian Pacific railway. In the event that the Canadian Pacific, Passumsic & Boston, Concord & Montreal railroads coming into possession of the Southeastern railroad property it may be necessary to secure the Montreal, Portland & Boston railroad, in order to complete their line and make desired connection between their respective termini at Montreal and West Farnham, a distance of thirty miles. This important link is owned by separate corporations, and has an incumbrance of $901,000 of first mortgage bonds, of which $501,000 is held as collateral security by the Vermont National bank on its loan of $31,000 to Bradley Brown. The Canadian Pacific and other roads interested in the line made an offer to Receiver Hendee for the purchase of the bonds in question, but at a lower figure than he will take. It is probable that a better offer will be made.

15. September 22, 1883 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, September 22, 1883

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RAILWAY NOTES. The Canada Pacific. The probability is that this road will secure possession of the Southeastern and the Montreal, Portland and Boston roads. A special despatch to the Boston Daily Advertiser from St. Albans, 20th, says: "There seems to be no longer any good reason to hope for a sale of the Southeastern Railway property and franchises to the New York syndicate who some weeks ago made an effort to secure it. The Canadian Pacific managers will apparently be able to "gobble" it for the face of their claim of a million and a quarter and thus secure a very valuable connection and a large amount of excellent railroad property at a price far below its cost. It seems that the only thing to be done now to secure the depositors in the Vermont National Bank of this place, carried down by the failure of President Barlow, will be for Receiver Hendee to sell to the Canadian Pacific people, the Montreal, Portland and Boston Railway, a large part of the bonds of which are held by the bank as collateral for loans to Mr. Barlow. This road, extending from St. Lambert to West Farnham, P. 9, is virtually owned, as was the Southeastern, by Barlow, and has been operated under a joint arrangement with the lattter road. It was no doubt Mr. Barlow's purpose to eventually bring about a complete merger of the two roads, but up to the time of his failure no lease or consolidation of the Montreal, Portland and Boston had been effected, and its bonds and stock are therefore available assets of the bank. Mr. Barlow owned 7924 shares, out of the total 10,199 shares of the capital stock of this road; $681,000 out of the total $901,000 of first mortgage bonds, and all of the $100,000 of second mortgage bonds, an aggregate of about three-quarters of all its securities. Of the first mortgage bonds, $501,000 are held by the bank as collateral for its loan of $319,000 to Mr. Barlow, and it is hoped that Receiver Hendee can realize on these enough to discharge the indebtedness. The Canadian Pacific people are understood to say that they do not care for the Montreal, Portland and Boston, as they propose to bridge the St. Lawrence river at the foot of the Lachine rapids, and in order to use the Montreal, Boston and Portland would have to build from the southern end of this bridge to St. Lambert, and could almost as cheaply build an independent line direct to West Farnham. But as the Montreal, Portland and Boston is the stem of the main line of the Southeastern, and is in complete operation, it is the only way by which they could render the Southeastern available as a connection for some years, pending the building of their projected bridge and connecting line, and therefore it is safe to say that this assertion on their part is prompted by a desire to secure the Montreal, Portland and Boston as cheaply as possible." A Chat With Sir Henry Tyler. The New York correspondent of the Boston Journal says that Sir Henry Tyler, president of the Grand Trunk Railway of Canada, is in that city. He has been in America since August and has been making a tour of the Grand Trunk system as well as visiting the Northwest. He will sail for England today on the steamship Brittanic. A Tribune reporter had a short talk with Sir Henry on Thursday evening. "The newspapers have reported that the Grand Trunk has been seeking to lease the Boston and Lowell Railroad. While there may be legal difficulties in the way of a lease is the Grand Trunk contemplating a control that would be equivalent to a lease?" asked the reporter. "I have not read the papers closely," Six Henry replied, "and do not know the nature the of It is true that we looked over of the Boston and had some on terminal the while stories. in Boston, property conversation and Lowell the subject. Nothing has been concluded." Then there have been negotiations between the two roads?' "Yes, but the matter is not in a shape where I can discuss it.' "Does the Grand Trunk look to so close a connection as would be the result of a lease?" subI think that we had better leave the ject here," smilingly replied Sir Henry. The Grand Trunk. The New York World says: "It is not generally known that the Grand Trunk Railroad has been quietly building a branch road up the St. Lawrence valley from the tubular bridge to Fort Coyington, and it is now proposed to extend said road to Ogdensburg, thus opening out a line of country of unequaled richness and the beauty, which has been shut out from rest of the world by a lack of railroad facility, and it will also improve the access to that popular resort, the Massena Springs, which are situated directly on this line. At Ogdensburg the road will make direct connection with the Rome, Wateriown and Ogdensburg, the Utica and Black River, and the Champlain and Ogdensburg Railroads.

16. November 21, 1883 Green-Mountain Freeman Montpelier, VT
Article from Green-Mountain Freeman, November 21, 1883

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SANDWITCHES HOW UNPLEASANT It is to see a beautiful child's face disfigured with vile humors bursting through the skin in pimples, blotches and sores, and sadder still. when the young and innocent are laughed at and twitted in all such cases, parents should give that good and pure remedy, Sulphur Bitters, which will search and drive out of the blood every particle of humor.] Health Gazette. A German dermatologist says thit baldness is catching. Judging from the way the boys crowd up to the blaze of bald craniums on the front benches at a variey show, they aren't much afrard of the disease. BRIGHT'S DISEASE, DIABETES. Beware of the stuff that pretends to cure these diseases or other serious kidney, Urinary or Liver diseases, as they only releive for a while and make you ten times worse afterwards, but rely solely On Hop Bitters, the only remedy that will surely and permanently cure you. It destroys and re-moves the cause of disease so effectually that it never returns. 47w2 A Missouri town which was visited by a cyclone last year has just been devastated by another. The inhabitants don't like this method of catching their second wind.-[Philadelphia Chronicle-Herald. "Five doctors; no end of medicine; no relief, Dr. Benson's skin cure has driven away all erup-tions and I'm nearly well." Ida M. Young, Hamilton Ill. 47w2 Harper's Weekly has a cartoon, on its last page, which represents "the skin of a human being tanned in Massachusetts" stretched upon an easel, Gov. Butler's familiar face and head being on top, and the cut is entitled-Tanned with his own Bark. Ladies in delicate health or feeble children nev-er fail to find relief by using Wheat Bitters. All druggists keep them. ST. ALBANS BANK AFFAIRS.-Some 1855 claims against the Trust Company had been presented and proven up to Tuesday night-leaving about 800 more to be proven. Receiver Rich has peti-tioned Chancellor Royce for an order directing him to disburse such sufficient sum as may be in his possession at a certain time to such depositors as have presented and proven their claims up to that time, and prescribing how such funds shall be distributed with reference to claims for which pref-erence is claimed. A hearing on this petition is set for December 4, at the court house. Receiver Hen-dee of the Vermont National bank, has lately had two offers-one of them a very fair offer-for the Montreal, Portland and Boston bonds held by the bank at the time of failure, but he declined both on the ground that they were not high enough. In our climate, with its sudden changes of tem-perature, it is no wonder that our children, friends and relatives are frequently taken from us by ne-glected colds; half the deaths resulting from this cause. A bottle of Dr. N. G. White's Pulmonary Elixir kept in the hosue for Immediate use, will prevent much sickness, and by the use of a few doses, save many doctors's bills. For sale every-where. 45ml Recollection is the only paradise from which we cannot be turned.-Richter. SOLID COMFORT. Nobody enjoys the nicest surroundings if in bad health. There are miserable people about to-day to whom a bottle of Parker's Ginger Tonic would

17. January 3, 1884 Savannah Morning News Savannah, GA
Article from Savannah Morning News, January 3, 1884

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FAILURES IN BUSINESS. An Opera- Manager at New Orleans Makes an Assignment. NEW ORLEANS, Jan. 2.-A. J. DeFosse, manager of a French opera troupe, in the Civil District Court to-day made a cession of the property to creditors. The assets, including costumes, music and furniture, are valued at $1,095. The liabilities, including salaries to various members of the troup and others, are $12,595. RUINED BY A MORTGAGE. FORT SMITH, ARK., Jan. 2.-James B. Harwood & Co., dealers in general merchandise, at Lavacca, in this county, made an assignment yesterday. Their liabilities are $12,000, and the nominal assets $20,000. They took mortgages on cotton crops and one of these mortgages caused their failure. AUGUSTA DRY GOODS DEALERS ASSIGN. AUGUSTA, GA., Jan. 2.-Landrum & Butler, dry goods dealers, have assigned to H. H. Hickman. The liabilities are $38,000, and the estimated assets, in stock, notes and accounts, $54,000. SETTLING WITH CREDITORS. ST. ALBANS. VT., Jan. 2.-The suspended Vermont National Bank began yesterday to pay its first dividend to depositors, amounting to 12 1/2 per cent.

18. January 3, 1884 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, January 3, 1884

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GENERAL NEWS. At the annual meeting of tha Lowell railroad yesterday, President Abbott and the old board of directors were elected. There was no other business transacted. The suspended Vermont National Bank at St. Albans began Tuesday paying the first dividend to depositors, amounting to 121 per cent. Hon. George W. McCrary of Iowa, United States judge of the Western circuit, has oeen appointed general counsel of the Atchison, Topeka and Santa Fe railroad and all its adjunct lines. Gen. Grant is rapidly recovering from the effects of his by ms late fall. As yet however he is unable to stand on the injured limb. Philip Kirby of Milford, Mass., was found dead in a door way with a gash in his head, early yesterday morning. An inquest will be held. John Demers, a young Frenchman, while drunk fell off the Eastern railroad bridge at Salmon Falls, N. H., a height of forty feet, receiving probably fatal injuries. The city government of Dover, N. H., was inaugurated yesterday. Mayor Lothrop's inaugural recommends many important improvements. The common council organized with John C. Pray as president. Rev. Francis Hawley, father of United States Senator Hawley, died in Hartford, Conn., yesterday, aged 81 years. Gov. Cleveland of New York yesterday nominated Amos J. Cummings, a well known New York jourralist, to succeed the late Geo, W. Lane upon the aqueduct commission. Schooner Lord Collingwood from Trieste, which arrived at New York yesterday, reports that on Jan. 1st when 45 miles southeast of Sandy Hook, Capt. Nicholson while heaving the lead fell overboard and was lost. Fifteen inches of snow fell in Barre, Vt., was B No. yesterday A W elevator 18th and it in Smith New still Brothers' York, falling last fell brewery night. 240 street. yesterday from the third floor to the sub-cellar, seriously injuring five persons. At the annual meeting of the New England Historical Society in Boston yesterday afternoon the old board of officers were reelected. President Marshall P. Wilder delivered his annual address. Charles B. Staples was arrested in Lakeville, Mass., yesterday on suspicion of causing the death of Patrick Carthius. A severe storm accompanied by snow raged in Buffalo, N. Y., nearly the whole of yesterday and the wind was blowing 45 or 50 miles per hour. A New Orleans despatch says A. J. Defossez, manager of the French opera troupe, yesterday made a cession of the reperty to cr. ditors. The assets are valued at $1,095 and liabilities $72,595. The Mexiean government has declared forfeited the concession made to Gen. Graut for a submarine cable connecting Mexico with the United States and Central America, for nonfulfilment of the terms of the concession.

19. January 3, 1884 New-York Tribune New York, NY
Article from New-York Tribune, January 3, 1884

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DIVIDEND FROM A BROKEN BANK. ST. ALBANS, Vt., Jan. 2.-The suspended Vermont National Bank began yesterday to pay its first dividend to depositors, amounting to 121g per cent.

20. January 3, 1884 Daily Republican Wilmington, DE
Article from Daily Republican, January 3, 1884

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Hank and Business Failures. The suspended Vermont National Bank at St. Albans began on Tuesday to pay its first dividend to depositors of 121/4 per cent. Landum & Brother, dry doods merchauts of Augusta, Georgia, have made an assignment. Liabilities, $38,000 estimated assets, $54,000. C. E. M. Savage & Sons, dealers in general merchandise, at Miles City, Montana, have made an assignment. Their liabilities and assets are estimated each at about $90,000. Clark &Maldauer, wholesale dealers in furnishing goods at Kansas City, Missouri, made an assignment yester day.

21. January 4, 1884 Burlington Weekly Free Press Burlington, VT
Article from Burlington Weekly Free Press, January 4, 1884

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A Vermont National Bank Dividend. ST. ALBANS, Vt., Jan. 2.-The suspended Vermont National bank began yesterday to pay its first dividend to the depositors, amounting to 12, per cent.

22. June 25, 1884 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, June 25, 1884

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Brief Jottings. Pleasant yesterday morning, with strong cool southwest wind in the afternoon. Mercury 67° at 7 a. m., 72° at noon, 69° at sunset. Mr. W. H. Jerris, the real estate agent, is very ill. Entries for the Fourth of July lawn tennis tournament will close next Saturday. The Cumberland County Republican Convention will be held in this city August 6th. Forest City, Sons of Temperance, will give an entertainment at Carlton Hall tonight. The public school teachers will be paid Thursday of this week instead of Friday. Mr. and Mrs. George H. Quincy of Boston, are stopping at Mr. Prentiss Loring's cottage in Cape Elizabeth. The United States Senate yesterday, confirmed the naval appointment of Ensign Harold H. Eames of Maine. George D. Lord of Limington, took the third prize of $30, for speaking at Dartmouth College, Monday. Among the other speakers was Thomas Leigh of Hallowell. Testimony is now being taken in Boston in the suit of Richardson & Dennie against the Shaw Bros., and Ferdinand A. Wyman, trustee, involving some $30,000. Hon. Henry B. Cleaves and Hon. C. F. Libby of Portland, are in attendanc. Messrs. Hodgdon Bros. received yesterday seventy crates of superb strawberries. Some of them were of extraordinary size, and all were in excellent condition. We are now in the height of the season for this fine fruit, which is this year abundant and cheap. Among the graduates this year at the Medical Department of the University of Vermont are the following from Maine: Jamer Ashley, Bangor, Charles Fremont Brock, George William Curtis, Albert Parsons Heald, Chas. Foster Hilton, Vesley M. Newcomb, George G. Richardson, George E. Sanborn, Alfred R. Taney, Louis H. White. When the Canadian Pacific had the stock of the Montreal, Portland and Boston sold by the sheriff recently, they were greatly astonished to see a man bid it off and pay for it whom they did not suspect of having the means. He was acting for the creditors of the Vermont National Bank at St. Albans, which holds a majority of the bonds of the road. The result is that if the Canadian Pacific wants the road it will have to buy it of the receivers of the bank, and there are rumors that such a transaction is likely to soon occur. The Hon. Hannibal Hamlin was among the guests at Cambridge Class Day. He was as frisky as a Sophomore, and enjoyed the fun immensely.-Boston Saturday Evening Gazette.

23. March 27, 1885 The Middlebury Register and Addison County Journal Middlebury, VT
Article from The Middlebury Register and Addison County Journal, March 27, 1885

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the till years. his from Daniel Verder. at from 1853 in retirement land. died He ran a bakery active business the has currency the declared of the the 1872. The comptroller a dividend Vermont of of 20 per National second cent to bank diviof creditors St. Albans. The first This was is 121-2 of Royaltingtantly per cent. owndend. Oscar H. Stoughton of last was Before week. the bemachinery er of the on Wednesday in a belt. Mr. StoughHis dead. killed coming entangled could be stopped body was terribly was mangled. ton Willard was Wood. wood 23 years sawing when, of in machine in age. helping in Jericho helping move the about a large other a stick saw. day. which his foot cut time its came before way of to with the It was some as the flow blood Dental contact into doctor the ankle. could been be got stopped. and. he died. on a had not association Friday chose The State at Burlington of Manchester St. officers H. Swift Warner of H. Wright Rutland vice-presid Presidential these G. and W. R. Mound W. of of BranJohnsbury T. of Burlington of BurJames C. F. Randolph treasurer, don: executive committee. Curtis Lewis of West Lewis Falls. W. D. of Bellows on fatal accident and J. P. occurred lington. A Parker Lake Champian railroad, the saloon St. car were Meigs. the Saturday Johnsbury thrown night. and from conductor A freight a )-foot next was injured trestle mornand that a he widow and a injured. so severely Harry He died two workman child- Both lived in on the road. St. Johnsbury. ren. ing. Ellery was severely The cars were writes totally Marshfield demolishe@crespondent were diggingorkmen for boots the When A Hatch Bros. their mill, the with foundation of skeleton. the least persons decomfound a was not in numerous noison. posed. which seen Since ghosts parts then and of heard the strange mill. but some Who who have in different is unknowallain, es this skeleton be was one William some years ago. think it to disappeared party of woodchop- discovered suddenly few days since a mountain toward A on Ascutney lynx leading fresh tracks the pers Brownsville. tracks and of John The a next Lacy, day Eugene followed Rob- the the appeared. Will rocks trail to a cave appearances inson "Gulf" and in Weathers annimal. Sturtevant in the was but a measure- near failed family to to capture in it was his den. thought the as found tracks that about there varying the in entrance Benethe ment It rocks. is were announced ready for that the of the press Col. part G. the G. taken first the vol- Un- by diet ume has of his history in the war for forthwith. will be put volume of ion will make an pages and than five ..Old Col. It Vermont and to it the hundred soldiers octavo Brigade," which in type exclusively. will be Bene- more and devoted second volume, nearly completed. will be dehas now equal size. which will other with the diet from voted which The this to the State, be of beginning legiments the United States went cavalry. A special session at Brattleboro of of Tuesday. Daniel was held heard was that ruined First H. The only of against Roberts, court case receiver of St. MeGregor's the esnational administrator bank of was a bill made in equi- 10 H. Hill, of Albany, which a conveyance to the tate to set aside collateral belonging of a large the in the bank. ty McGregor to secure of McGregor payment had by the receiver, bank, deposit which as s claimed insolvent. bank and at a time. bank was hopelessly for the and Daniel C. Adams for of the and of Albany his Judge comes from J. when P. Henry Ladd the Wheeler Roberts reserved appeared St. decision. Rev. Albans defendant. Mirror, I. P. The following of the Christian that it be Warren. editor Me., with a request that among the in the name of published: Portland. settlers It is known Vermont were Timothy many Stan- or early Connectic from of John. All perfrom descended of Hartford. by birth or ley, Stanley with these wledge of or are and such families, their preparing marriage. Thomas furnish sons connected me with who will have respectfully aid any names in births, invited mar- such to a facts and genealogy. data as all Besides biographica busi- and Stanley and deaths. items respecting that dehistorical riages, ness enliven and matter, estates. and enrich and the anecdotes work, are train will sired. Central Vermont passeDemptying express who the On other a day were deal two of time them seemed devoted a good firewater. One other. of and his bottle of fuller than the with liquor else companion a little became kept plying crazy him drunk. disturdance He was of until demonstrative he to the he would have Rox others not in the car. put off platford but near of the been promptly went out on the from the train. supbury he suddenly jumped was notified. and jumping ear and Murray be hurt in would knowing that sent a a the be along Roxbury to of harm's way. Conductor posing and from the soon, man he would out freight look hand-car after train a parti- crew fel- He back low and get him due time, not hurt but lying was found in from the train. the freight le by his the track that was found o close to leap by before seriously he if injured and he ad come have been His compan- he would killed outright. conductor that If not ad been dynamite. the of lively possibly on explained giving to him the dynamite." material with and

24. July 16, 1885 St. Johnsbury Caledonian Saint Johnsbury, VT
Article from St. Johnsbury Caledonian, July 16, 1885

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# The Bad Barlow. The Burlington Free press says that a meeting of bank officials was held in that city on Friday as a result of the commotion created by the comptroller's recent instructions to Receiver Hendee to bring suits against delinquent stockholders of the Vermont National Bank of St. Albans. The institutions interested are the National banks of St. Johnsbury, Passumpsic savings bank, National bank of Vergennes, the First National bank of Brandon, the National bank of Middlebury, and the Bellows Falls savings institution. The banks, upon receiving notice of the action of the comptroller of currency, exhibited a strong tendency to resist the collection of the assessment, and this meeting was held to decide the question whether such resistance should be made. Among those present were Hon. L. P. Poland, of the First National, of St. Johnsbury; W. S. Streeter, of the Merchants National of St. Johnsbury; A. A. Fletcher, of the National of Middlebury; C. T. Sprague, of the First National of Brandon, and George I. Briggs, of the First National of Brandon; Hon. Stewart L. Woodford of Brooklyn, attorney for the banks, was also present at the conference, which was held in one of the back parlors of the Van Ness House. As would naturally be expected, great reticence was maintained by the members of the conference at its conclusion as to what action had been taken, but it leaked out that it had been determined to resist the enforcement of the assessment. It will be remembered that the stock held by these banks was transferred to them by Bradley Barlow as collateral security for the loans effected by him to carry on his Canadian railroad enterprise. The stock is held as follows: St. Albans Trust company, 350 shares; First National bank, St. Johnsbury, 300 shares; Merchants National, St. Johnsbury, 200 shares; National bank of Vergennes, First National of Brandon, National bank of Middlebury, Baxter National of Rutland and the Bellows Falls Savings Institution, 100 shares each; Passumpsic Savings bank, St. Johnsbury, 150 shares. The estate of Horace Stewart holds 200 shares as collateral security for money loaned, but it is claimed the transfer of these shares was never perfected, and that the estate is not liable for any assessments levied. A. O. Brainerd also holds 150 shares of stock. The above named banks and individuals, including the Stewart estate, hold 1830 shares out of a total of 2000 shares of stock, the balance, consisting of 170 shares, being held by several parties in small blocks.