Third National Bank & Trust Company (Springfield, MA)

Episode Information

Episode UID
30801599
Episode Type
Suspension โ†’ Reopening
Bank Type
national
Bank ID
3080 national
Charter Number
308
Start Date
March 6, 1933
Location
Springfield, Massachusetts (42.101, -72.590)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a77c9d89ae3493d4

Response Measures

None

Events (3)

1. March 10, 1864 Chartered
Source
historical_nic
2. March 6, 1933 Suspension
Cause
Government Action
Cause Details
Federal banking holiday/closing ordered in March 1933; banks suspended operations and required authorization to resume
Newspaper Excerpt
The Third National Bank and Trust company and the Springfield National bank sent their applications to the Federal Reserve headquarters in Boston
Source
newspapers
3. March 11, 1933 Reopening
Newspaper Excerpt
The Third National Bank and Trust company ... sent their applications to the Federal Reserve headquarters in Boston as Springfield members of the Federal Reserve. The petitions ... to resume functions in full were to Boston this afternoon
Source
newspapers

Newspaper Articles (2)

Article from Abilene Weekly Reflector, December 15, 1898

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Article Text

MORE GILLETT LITIGATION. Massachusetts Banks Asks a Receiver for a Bunch of Cattle. In the federal court at Topeka Thursday, Judge Riner will hear evidence to determine whether there shall be a receiver appointed to handle a certain bunch of Grant Gillett's cattle, on which three to five chattel mortgages were given. The plaintiff in the case is the Third National bank, of Springfield, Mass. On August 20 last Gillett secured $57,286 from Elmore & Cooper on a chattel mortgage on 1,866 head of cattle in the Texas Panhandle. It was agreed in the mortgage that Gillett should bring the cattle up in one bunch to his Woodbine ranch and feed them there. The money was secured on twelve notes, eleven of them for $5,000 each and the other one for $2,846. Elmore & Cooper sold $12,846 of the paper to the Third National bank, of Springfield The plaintiff now claims that the cattle have never been at the Woodbine farm; that, on the other hand, Gillett permitted them to fall into the possession of William Dunlap, and later they were divided up into numerous bunches and 525 head of them shipped to St. Joseph and sold. The plaintiff claims that Dunlap insists that he took possession of the cattle under a prior mortgage. It is charged that the cattle now are not worth over $40,000 and that unless a receiver is appointed the First National bank of Springfield will lose c its entire claim as Gillett is a bankh rupt and has absconded. No temporary restraining order was issued in the case. Next Thursday has been set as the day for the federal court to hear evidence as to whether the plaintiff is entitled to a receiver for the CC property.


Article from The Republican, March 11, 1933

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Article Text

MUST DECLARE SOLVENCY AND ENOUGH ASSETS TO MEET NEEDS Clients Asked to Bring in Their Checks for Clearance Today By airplaine, train and automobile the petitions of local banks to fesume functions in full were to Boston this afternoon while local bankers waited with greater confidence than heretofore that near-normal business will be restored in Springfield The Third National Bank and Trust company and the Springfield National bank sent their applications to the Federal Reserve headquarters in Boston as Springfield members of the Federal Reserve. The petitions of the other local commercial banks were sent to the state banking commissioner. Savings banks had received no notice of for them to use, but looked for reopening next week with restriction on withdrawals. All banks today were operating the same as yesterday. Commercial banks were busy in the work of furnishing payrolls up to the $25 maximum per employe, while both commercial and savings banks to lease up to $10 to depositors for the necessities life. Must Declare Solvency In making the application to reopen,* the officers of the local institutions must declare that the petitionfing bank is solvent and with assets of sufficient value to more than cover all liabilities other than its own stock Habilities. The are signed by the president and the treasurer or cashier. Before closing their doors for the day this afternoon local bankers nounced that they will now accept the checks held by their customers for collection in order to have them on hand and the machinery in order clear them as soon as the authorization comes through next week. The advance acceptance will facilitate the