gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
185d5b378871518a
Response Measures
None
Description
State commissioner closed the bank and a liquidating agent was named; embezzlement by savings manager cited as trigger.
Events (2)
1.March 27, 1930Run
Cause
Bank Specific Adverse Info
Cause Details
Discovery/arrest of Harold R. Newcomb for alleged embezzlement (shortage reported ~$285,000) led depositors to withdraw funds.
Newspaper Excerpt
There has been a run on the bank several days.
Source
newspapers
2.March 28, 1930Suspension
Cause
Government Action
Cause Details
State Bank Commissioner Roy A. Hovey took possession and closed the trust company after examiners disclosed a large shortage attributed to embezzlement; liquidating agent appointed.
Newspaper Excerpt
the state commission ordered the institution closed today.
Source
newspapers
Newspaper Articles (24)
1.March 28, 1930The Washington Daily NewsWashington, DC
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Funds of Coolidges Held in Closed Bank
By United Press
NORTHAMPTON, Mass. The Hampshire County Trust Co., where Calvin Coolidge does some of his banking, was closed today after a run which the head of the institution said was caused by "serious defalcations." Harold E. Newcomb, manager of the savings department, was arrested last week charged specifically with a $15,000 defalcation and President Ralph W. Hamenway today said that "serious defalcations, amounting in round numbers to $285,000, made inroads on the surplus of the bank." There has been a run on the bank several days and the state commission ordered the institution closed today. Mr. and Mrs. Coolidge, both of whom have accounts in the institution, said they did not contemplate withdrawing their funds.
2.March 28, 1930The RepublicanSpringfield, MA
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BLAMES NORTHAMPTON BANK METHODS FOR SHORTAGE
State Official Says Losses Were Covered Up Due to Lack of Safeguards
(Special Dispatch to The Daily News) Boston, March internal Hampshire County Trust company itself blamed the covering of the $285 shortage that resulted today in closing the Northampton banking institution, in the opinion, of Roy here this after returned close its doors this dering morning. said Harold R. NewHovey that charged had access to the only Continued on Page Twenty two
3.March 28, 1930Springfield Evening UnionSpringfield, MA
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SAYS OFFICERS SHOULD HAVE PREVENTED LOSS
Bank Commissioner Says Hampshire Trust Should Have Had Internal Auditing System. Special to The Springfield Union BOSTON. March existence of an Internal checking system, a form of audit in use all up to date banks. would have prevented the defalcation of $285,000 by Harold R. Newcomb from the Hampshire County Trust Company of Northampton. Bank Commissioner Roy A Hovey The trust company was closed this morning by order of Mr. Hovey when a run on the bank. caused by alarming rumors as to its condition, had depleted its liquid assets Mr. Hovey tacitly blamed the bank officials for not discovering the defalcations before they had gone very far. He said that the audits made periodically by the state bank exam iners concerned only major bal ances of the bank's affairs. and case like this one, where the thefts were the use of fraudulent order slips sums from Inactive the state ex aminers would not discover it until as happened. the amount had reached serious proportion of the bank's assets. Mr. Hovey also said that the aminers' report showed that the profits and surety bonds of the bank, comprising the bank's capital, were protected.
4.March 28, 1930Springfield Evening UnionSpringfield, MA
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Rush of Depositors to Withdraw Uses Up All Available Cash
State Bank Commissioner in Charge Embezzlement by "Dick" Newcomb, Now in Jail, Blamed for Condition Depositors Will Not Lose, Officials Say in Statement; Crowd at Doors of Institution This Morning.
By Staff Reporter
NORTHAMPTON, March 28-The Hampshire County Trust Company was this morning ordered closed by Roy A. Hovey, State Commissioner of Banks, after the examination of the accounts which has been in progress for nearly a month disclosed a shortage of $285,000. This amount was abstracted from the funds of the bank's savings department, state banking officials say, by. Harold Richard Newcomb, manager of that department, who is now in jail pending trial as an embezzler.
Run by Depositors Depletes Cash
The bank this afternoon the appointment of Albertus Morse, Northampton attorney, to be liquidating agent of the The action which closed the doors of the institution this morning was the direct result of two-day run during which depositors made such substantial withdrawals that bank's seriously depleted. Ralph Hemenway, former law partner of former Calvin Coolidge, president of the bank. Judge John W. Mason of the District
Court of Hampshire is chairman of its board of directors Two statements were this morning the first by Arthur Guy, bank examiner, in charge, and the other by Judge Mason and Mr. Hemenway
Guy's Statement. Mr. Guy's statement: run which developed result of the disclosure by state bank examiners last week of shortage in the [Continued on Sixth Page.]
5.March 28, 1930The Oregon Daily JournalPortland, OR
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Bank Patronized By Coolidges Is Closed; Funds Gone
Northampton. Mass., March The Hampshire County Trust comwhere former President Calvin Coolidge does some of his was closed after run which the head of was caused by defalcations.' Harold Newcomb. manager of the department. was with and President Hemenway said that "serious round numbers serious roads the surplus of the bank." There has been on the bank several days, sioner ordered the institution closed Mr. and Mrs. Coolidge, both of whom have accounts institution, they did not contemplate their funds.
6.March 28, 1930The Pittsburgh PressPittsburgh, PA
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RUN CLOSES BANK USED BY COOLIDGE
Defalcations Blamed for Company's Trouble
The United Press NORTHAMPTON. Mass. The Hampshire County Trust Co., where former President Coolidge does some of his banking, closed by the state today after run which the head of institution said was caused by "serious defalcations." Harold E. Newcomb. manager of the savings department, was arrested week, charged with 000 defalcations President Ralph Hemenway today said "serious defalcations, amounting $285,000. made serious inroads on the surplus the bank. There been run on the bank several Mr. and Mrs. Coolidge. both whom have accounts in said they did not contemplate withdrawing their funds.
7.March 28, 1930The Brooklyn CitizenBrooklyn, NY
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$15,000 THEFT CAUSES RUN ON BANK IN MASS.
Arrest of Defaulting Manager Necessitates State to Shut Bank's Doors
NORTHAMPTON Mass.. Mar County Trust Compay. one of the oldest banking instintions in western Massachusetts. closed its doors The action recalled the recent arres: of William A. "Dick" Neweomb manager of the ban's saving department and widely known orchestra leader. was taken custody last week charged with misappropriation of $15. 000 in bank funds. There had been run on the trust company for the past few days and yesterday the situation became serious
This morning. crowd which gath ered outside the bank saw on the door the following notice "Unnder the authority vested in me by law. hereby take possession of the property and business of the Hampshire Country Trust Company (Signed) Roy A. Hovey Commissioner of Banks. The big crowd that had assembled outside the bank began dispersing shortly after m. Rumors current throughout the city had it that the bank's losses might run as high as $285,000, but there was no confirmation. It was generally regarded as incredible that this amount could have been misappropriated by Newcomb during the more than five years that he managed the savings department. President Ralph W. Hemenway of the Trust Company could not be reached at his home for statement.
BANK FAILED TO OPEN
Savings Department Manager Was Arrested Two Weeks Ago on Embezziement Charge
Northampton, Mass., Mar. The Hampshire County Trust company closed its doors this morning with shortage of approximately $285,000. Blame for the loss placed rectly upon Harold R. Newcomb, former manager of the savings department, by Arthur Guy, state banking examiner in charge. A statement by Ralph Hemenway, president, said the savings depositors would timate loss. It became known today that the bank had been subjected to heavy withdrawals ever since Newcomb's arrest and Mr. Hemenway admitted this morning that there had been virtual run yesterday. Bank officials have steadfastly fused to disclose the actual amount of Newcomb's alleged defalcations but it was said today that the bank's defieit might reach "six figures." It also became known this morning that six spent all last week going over the books. They left last Saturday. The last available statement of the bank's condition showed commercial department assets of $1,034,000; assets, $1,849,000; ings department assets, $91,000; trust department $1,669,000; Christmas ings deposits, savings deposits, $9,000; trust department deposits, $100,000. A. Hovey, state notice by Roy A that he had banking commissioner, taken over the institution was posted at the main On Page 2) (Continued
9.March 28, 1930Evening ExpressPortland, ME
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Blame Defaulter For Bank Closing
Northampton Institution Closes Doors After Heavy Run-Find $285,000 Shortage--Ex-Manager Is Held
NJORTHAMPTON, Mass., March 28. (A Hampshire County Trust Company closed its doors this morning with shortage of approximately $285,000. Blame for the loss was placed directly upon Harold R. Newcomb, former manager of the savings department, by Arthur Guy, state bank examiner in charge. A statement by Ralph Hemenway, president, said savings depositors would suffer no loss.
Manager Faces Theft Charge Newcomb, banker by day and leader of a popular jazz orchestra by night, WLS arrested on March 17, charged with the specific theft of $15,000 on which charge he was held in default of $30,000 bail when arraigned in District Court. The bank's loss was said by Guy to have been entirely in the savings department. Ever since Newcomb's arrest withdrawals have been heavy. Yesterday they developed into run. This morning an excited group of nearly 100 depositors milled about the doors of the institution and necessitated the of several policemen to maintain order. A brief notice, signed by Roy A. Hovey. state bank commissioner, and posted at the main (Continued on Page 2, 2nd Column)
10.March 28, 1930Pawhuska Journal-CapitalPawhuska, OK
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Bank in Coolidge Home Town Closes Its Doors
NORTHAMPTON, Mass.. Mar. 28. (U.P.)-The Hampshire County Trust company, where former Presilent Calvin Coolidge does some of his banking was closed today after a run which the head of the institution said caused by "serious defalcations Harold E. Newcomb, manager of savings department. was arrested 1st week charged specifically with $15,000 defalcations and President Ralph W. Hemenway today said that "serious defalcations. amounting in found numbers to $285,000 made serious inroads on the surplus of the There had been a run on the bank several days and the state commissioner ordered the institution closed Mr. and Mrs. Coolidge. both have accounts in the institusaid they did not contemplate ithdrawing their funds.
HOLINESS CAMPUS SOCIETY COLUMBUS, 0.-(U.P.)-A new organization has anneared at Ohio State university here which frowns upon teaching of evolution. dancing and the use of tobacco. It is the Holiness League. Although the league is especially opposed to co-eds using tobacco, it will attempt to persuade all students to forswear its use, league officers said. The organization does not condemn solo dancing, but it heartily disapproves of that form of the dance which requires the male students to be close to the co-eds.
The cost of gasoline for running a light car is about 22 per cent of the total cost per mile. In a heavy car it is about 15 per cent.
11.March 29, 1930The RepublicanSpringfield, MA
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Property Owners Hit By Crash of Hampshire Trust
All Assets Will. Have to Be Turned Phto Cash. Pay Depositors and Creditors; Atty A.Β° J. Morse Waits For Appointment As Liquidating Agent Before. Starting Proceedings; Newcomb Says All of $285,000 He Stole Is Gone
Northampton. March. Albertus J. Morse, who been selected as liquidating agent.for the Hampshire County Trust company by Bank Commissioner Roy A.oHovey, stated today that he had not received his appointment. He understands this will be made by Mr Hovey and must be approved by the supreme court before it becomes official. He understands that. his job will be to turn into a liquid oform all the assets.of the bank and try to make it possible to pay 100 Δents on the dollar to all creditors and depositors. To this it will be necessary to dispose of all of the bank's holdings and to liquidate the mortgages held. by the bank. To Sell Property Taken Foreclosure The bank is now in possession of estate which it has taken FORD RECEIVES some real on foreΓ§losures. This it be necessary to dispose of at the highest dollar fetch. One piece propTAX REFUND OF erty held by is Plymouth in college the mortgage inn, of wifleh was foreclosed by the bank about ago. assumed will be to $53,005 ON HIS dispose property amount to the mortgage. Other matters of will to Securities have been put up INCOME FOR '25 collateral for loans. Mr Morse pects that his appointment will come through either today early next Results from Compromise Fairburst Sald Bank Did Its Best to Avert Crash by His Lawyers and the Dist-Atty Charles Fainhurst, when Interviewed this that Government from personal knowledge he believed did all vent the run on the He said the bank Harold R. Newcomb, the savings bank derefund today to the extent of $53,005. partment arrested that the result of compromise between taken did and the government's attorneys his think that the public d believe his 1925 that any such amount could possibly George Widener, the Philadelbeen and the bank officials phia millionaire, was given tried allay a run on the bank forth smaller issuing statement that the sound. HAWKS STARTS This did have a quieting effect for Hovey the exact situation and advised the officials to adopt this course. ON attept then made the other local bank its cards the other banks, GLIDER FLIGHT course, the the situation. Then came the refusal of the banks honor the County Trust company's checks the inevitable crash followed. Will- Traver Cross Country Newcomb Makes Confession Tqw of Sturdy Sport has made complete confession to State Biplane Albert M. Dasey and President Ralph Hemenway the bank in which he says that all of the Hollywood, Cal., March 29-eCapt money was "frittered Frank M. Hawks was home with and he has absolutely nothing left to mother today. .celebrating his 34th birthday the success of his The public opinion here is that time flight from San County sunrise the birdman will Tombrrow banking thing the past. When time will be facing the of This he taken claims cabin of his there will be nothing Jeft for it ing sailplane, the "Eaglet," with carry on with as bank. York city the goal. a truly adventure. Bank System Galled Lax As Hawks speeds eastward across There has much been 11 states with 20 overnight stopguessing to Newcomb before him, will watch ping with $285,000 500 ahead of him study little feet the the bank sport the air currents officials finding undertrail-blazer that the thefts been Hawks will be "hitching on" behind over period that and relying Newcomb manager of: the "DuRe" department. pilot to keep the Although the officials will say aloft. planned nothing and not certain Yuma, 400 questions another west of Other up in circles made Phoenix, Northampto thefts Okla., East St Lquis, and Columbeen made. He declares the really got into bank. That never got deposits beyond SEEKS ARMY PLANES was in the receiving cage most the time and the theory advanced FOR TERCENTENARY that the deposits and converted his 8wn Proper entries would be made de(Special Dispatch to News proper entry or would navy department was asked today by tife records of the bank. Rogers this the bank setts to send to the Bay State of amount should to take part in When were for Mrs certify they checked have over the bank records, whether they cities is that on nuother England She merous depositors the matter Assistant with the Secretary Ingalls and officials not allowed the proper amount interest being charged OPERATION FATAL.TO There lot of public criticism such NEW HAVEN BANKER where man had bank deposits and also.verifying the passbooks. this had been New. Haven, March individuals D. Mead, of the First National Bank Trust comlieved could-not gone long Raphael's today an internal after illness, Talk among business in North shows feeling Mead from President W. in bank cashier. directors did He golfer, sportsman. He his the week, soon "after the Abbey, one Continued Eight. Mrs William of
12.March 29, 1930The Morning UnionSpringfield, MA
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PROPER SYSTEM LACKING IN BANK, DECLARES HOVEY
Management Evidently Did Not Take Precautions Directed, Says State Commissioner.
DOUBTS BUSINESS WILL BE TAKEN OVER
Efforts to Interest Other Institutions Have Been Unsuccessful; Laws Make It Difficult.
Special to The Springfield Union. BOSTON, March 28-Bank Commissioner Roy Hovey, commenting on the closing today of the Hampshire County Trust Company of Northampton, the assets of which have been reduced some result operations of Harold R. Newthe comb, former of the savings according to bank offistated that the losses would not have sustained the bank the affairs of agement institution in proper business the manner. It understood that the disthe accounts has prenumber of years. Commissioner Hovey upon phase declared that for the bank examine yearly audit books of State wrong the Northbecause that officers not have proper whether the funds not being taken by ployes. stated directed the which he evident his advice was
Appoints Morse.
Today the appointed of liquidatMorse will gather the of the bank and distribute them assets Commissioner Hovey said that the bank officials are better position than this the depositors be paid in full. Hovey doubted the the bank by any other institution Efforts this end already have but have been sucmade, Under the Federal banking national open branch county. savings bank under community bank Such laws the make difficult for the be over by larger bank. Mr. Hovey that case like this the fraudulent order mitted slips from inactive accounts, the state would discover happened, the amount taken had reached serious proportion of the bank's assets.
13.March 29, 1930The Courier-ExpressDubois, PA
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COOLIDGE CASH IS
Mar. funds totalling $110,000 and deposits of Northampton's most mous citizens, former president and Mrs. Calvin Coolidge became useless today when State Bank Commissioner Roy Hovey closed the Hampshire County Trust Company here, stating that the institution was short. Harold Newcomb, of the manager bank's savings department and band, was rested on March 17, charged apecific with of $13,000 from the trust company. He in Hampshire county trial. Following detection of Newcomb's alleged defalcations, thorough counting of the bank's books was made ond statements announcing the clos Ing today, bank commissioner Hovey and Ralph W. Hemenway, president of the trust company, agreed that more than quarter million dollars was missed. There had been run on the bank sevral days. Today monthly for payday Northampton's school teachers. City official effected loan of $12,000 from another bank and the requirement was met.
14.March 29, 1930Evening StarWashington, DC
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TRUST CO. CLOSES DUE TO SHORTAGE Institution Patronized by Coolidges Has Sales Manager Arrested for Theft. By the Associated Press. NORTHAMPTON, Mass., March 29. -The Hampshire County Trust Co., suffering a shortage of approximately $285,000, closed its doors yesterday less than two weeks after Harold R. Newcomb, manager of its savings department, was arrested charged with theft of its funds. Newcomb, who of nights was the leader of a popular jazz orchestra, was arrested on March 17, specifically charged with the theft of $15,000. He was held in defaul of $30,000 bail. The disclosure resulted in heavy withdrawals of deposits, developing to the proportions of a run which resulted in the State Banking Department taking over the bank's affairs. An excited group of more than 100 persons, moved by rumors of a shortage, milled about the doors of the bank this morning and it was necessary to call several policemen to maintain order. Former President Calvin Coolidge and Mrs. Coolidge have accounts at the bank, but were not disturbed over the conditions at the institution. A statement from the office of the former President said that Mr. and Mrs. Coolidge had not withdrawn their money and felt that if was "perfectly safe." Arthur Guy, State bank examiner, said the trust company has deposits of $600,000 in its commercial department and $1,575,000 in its savings department, a capital of $150,000 and undivided profits, including surety coverage of $312,000. In a joint statement, Ralph Hemenway, president, and John W. Mason, chairman of the directors, said: "There are assets enough to pay the depositors in full."
15.March 29, 1930Chicago TribuneChicago, IL
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Pana Bank Survives a Run, but Reports Cash Exhausted
Pana, m., March 28.-[Special] The National was without ready funds tonight and unable to honor pay checks result of heavy run on the bank which fol. lowed the of Arnold O. John. son, 55 old, heavy holder and second vice president of the institution. C. B. Parrish, president, announced that an urgent message had been sent to Chicago for money and that the banl was solvent, but close Sat urday for examination for national bank Denies Financial Trouble.
While Johnson's suicide was believed to be the result of despondficials and friends said that his sulcide had no connection with bank affairs. There was a heavy withdrawal of deposits throughout the day, but the bank remained open until o'clock, the regular closing hour. At the closing time a large crowd of depositors of the Penwell Coal and Mining was still standing in line. Every depositor's check and pay roll check was honored up to closing time, but after the doors had closed Guy L. Smith, the bank's attorney, that the bank was out of funds. He said, how. ever, the bank was solvent and depositors would not lose.
Withstood Previous Run.
The uneasiness in local banking has increasing since the H N. Schuyler State bank closed on Feb. by State Auditor Oscar Nelson for and adjustment. The Pana National withstood run at that time with the aid of money rushed here by airplane from During the last few days, with. drawals had been stendly growing and when employes of the mining company appeared at the bank with their pay checks today, two days before the usual pay day, the run started The run was still comparatively light, when news that Johnson had shot himself to death in the basement of his home was circulated. Hundreds of depositors hurried to the bank and joined the already long queue which had formed at the
Bank Closed: $285,000 Short Northampton, March 28 The Hampshire County Trust com pany. suffering shortage of approxclosed its doors today less than two weeks after Harold R Newcomb, manager of its savings department, was charged with theft of its funds. Newcomb, who of nights was the leader of popular jazz orchestra, was arrested on March 17, specifically charged with the theft of $15,000. He was held in default of $30,000 bail. The resulted in heavy with. drawals of deposits, to the proportions of run, which resulted in the state banking department tak ing over the bank's affairs. Coolidge Among Depositors. Former President Calvin Coolidge and Mrs. Coolidge have accounts at the bank, but were not disturbed over the conditions at the institution. A statement from the office of the for. mer President said that Mr. and Mrs. Coolidge had not withdrawn their money and felt that it was perfectly safe. Arthur Guy, state bank examiner, said the company has deposits of $600,000 in its depart ment and $1,575,000 in its savings department, capital of $150,000 and un. divided profits, including surety coverage, of $312,000.
16.March 29, 1930Morning SentinelWaterville, ME
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FORCE BANK TO SUSPEND
Depositors Start Run On Bank at Northampton After Embezzlement
NORTHAMPTON Mass., March Hampshire County Trust company, suffering shortage of approximately closed its doors today less than two weeks after Harold R. Newcomb, manager of its savings department was arrested charged with thefts of its Newcomb at night the leader of popular jazz orchestra, was arrested March 17. specifically charged with the theft of 000, and held in default of bail. The disclosure resulted in extremely heavy withdrawals deposits, which resulted in the state banking department taking over the affairs of the institution An excited group of more than 100 persons moved by rumors of shortage. milled about the doors of the bank this morning and it was necessary to call police officers to maintain order. "Former President Calvin Coo.idge and Mrs. Coolidge have accounts at the bank but were not disturbed over the conditions at
(Continued on Page 3 Column 2)
17.April 2, 1930The Boston Daily GlobeBoston, MA
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HOVEY TAKES STEPS TO GET SURETY BOND
Ex-Mayor Andre Appointed to Proceed in Collection
Band to Continue Under New Name
With Bernache as Director
Special Dispatch to the Globe NORTHAMPTON, April 1-Roy A. Hovey, State banking commissioner who closed the Hampshire County Trust Company last Friday after alleged embezzlement of $285,000 by Harold Richard Newcomb, manager of the savings department, had caused run on the bank, today announced be had attorney Jesse A. Andre, an ex-Mayor of, Northampton, as counsel, and had instructed him to proceed at once with the the trust arising out of the bonds covering The was made through Deputy Commissioner Arthur Guy, who left tonight for Boston, having turned matters over to Eugene Briir. mer, assistant director of the division of trust companies of the State BankDepartment. Mr Brimmer, who took an important part in the of trust companies in Boston in 1920 and 1921, will cooperate with attorney Alvertus Morse, liquidating agent, and act as his assistant. Following a conference last night between Mrs Harold R. Newcomb, who has taken over the of the orchestra, formerly led by her husband, William present leader of the band, it was an-
18.April 3, 1930Jonesboro Daily TribuneJonesboro, AR
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Accused, as Bank with Coolidge Funds Fails
Former President and Mrs Calvin Coolidge were among the depositors in the Hampshire County Trust Co. Northampton Mass.. which was closed after two-days run on the bank had from charges of embezzlement placed against Harold R Newcomb, above of the savings de partment Newcomb was arrestd and held under $50,000 ball Of ficials disclosed a $285,000 short-
"Turning to New England we find Massachusetts delivering 30,688 dripping wet votes, against 19,594 dry and 15,723 damp ones. "New Hhampshire and Vermont on the contrary back the dry cause Rhode Island, which is looking forward to holding an official Prohibition referendum, plunges hard for repeal. But Maine, which has been called the Grandmother of Prohibillon, rallies pluckily for enforcement and gets under the wire by a nose, as it were-4.11 dry, 2.589 damp and 4,035 wet. Looking westward we see Oklahoma plunging for enforcement. The Literary Digest states that it has been bombarded with criticisms from those favoring every shade of opinion and it passes off the many objections as almost too silly to answer. "This year,' the periodical notes, "the bitterest of the accusations seem to come chiefly from our dry friends, who ought to know better some of them positively do know better. However, we are also being assailed by earnest wets, who accuse us of splicting the wet vote" and of further agains@ them by throwing out ballots mark ed in more than one square. "We always expect to be bombarded with local scandals about our ballots going to the wrong kind of people, and none going to the right kind of people.
"A favorite accusation just now it that we are sending no ballots to women, only to men. Whereas our enormous daily mail includes many complaints that the women are getting the best of it in the
"Then there is sinister story that The Digest is financed by the 'wet interests. just as our 1923 poll was declared to have been financed first by the Democrats. then by the Republicans! To all such silly stories our sole reply is a vigorous "Bosh!"
"The Digest [Inances it own polls, and never has cause to regret the outlay, enormous as it is
19.April 4, 1930Elmira Star-GazetteElmira, NY
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Accuse Banker
Former President and Mrs. Calvin Coolidge were among the depositors in the Hampshire County Trust Co., Northampton, Mass., which was closed after a two-day run on the bank had resulted from charges of embezzlement placed against Harold R. Newcomb, manager of the savings department Newcomb was arrested and held under $50,000 bail. Officials disclosed a $285,000 shortage.
20.April 4, 1930The TribuneCoshocton, OH
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Former President and Mrs. Calvin Coolidge were among the depositors in the Hampshire County Trust Co. Northampton, Mass., which was closed after two-day run on the bank had resulted from charges of embezzlement placed against Harold R. Newcomb. above manager of the savings department. Newcomb was arrested and held under $50,000 bail. Officials disclosed $285.000 shortage
Against Prohibition Amendment I do not think it is my place do so 'Do you believe the eighteenth amendment should be repealed?' asked Senator Robinson do. or at least modified. "And that is why you are so large contributor to this association?' Raskob said the main headquarters of the association was in New York and small office was maintained in Washington. Robinson questioned Raskob's connection with the Dupont Company and told him Senator Harrison D) of Mississippi had stated. on the floor of the senate. that Raskob was no longer a vice president of the company "The position is largely an honorary one, for haye not been very active for several years. 'Let's call Senator Harrison,' suggested Caraway "Some of these senators don't seem to want to come before this committee Robinson remarked "You sent one to Europe," said Caraway with heat What do you mean?" Robinson cried. didn't." "Then Senator George Moses is utterably unreliable. for he told me you did," shouted Caraway "I" am talking about Senator King," Robinson said. Yes, know you are and that was what George Moses was talking about, Caraway said, standing up from his seat. And don't think myself that he is unreliable Then the committee returned to Raskob He denied the association was lobby one but simply one to educate the people. He asked Robinson for definition of lobby organization and the Indianan could give none.
21.April 4, 1930The Selma Times-JournalSelma, AL
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AFTER LONG ILLNESS
THEFT CHARGED TO EXECUTIVE OF BANK FOLLOWING FAILURE
Former President and Mrs. Calvin Coolidge were among the depositors in the Hampshire County Trust Co., Northampton, Mass. which was closed after day run on the bank had from of placed against Harold R. Newcomb, above. manager of the savings department. Newcomb was arrested and held under $50,000 bail. Officials disclosed a $285,000 shortage.
Doctor Bennett Ross Succumbs At Florida Resort
WAS STATE CHEMIST, NAVAL BOARD MEMBER
Thirty-Seven Years Of Service At Alabama Poly Ended
MIAMI Fla., April 4-(P)s Dr. Bennett B. Ross, dean of the College of Sciences of Alabama Polytechnic Institute, Auburn. Ala., died here today. He had been state chemist of Alabama since and was an associate member the naval consulting Funeral arrangements will be made later.
AUBURN, April Bennett Ross, dean of the lege of Sciences of Polytechnic Institute, died MIami, this morning, accompanied by Mrs. here in February regain his health. Heart Disease Cause Friends here were advised that death due to heart disease and complications. Dr. Ross had been in ill health for and spent several weeks last fall Hot Springs, Ark. returning to Auburn apparently much improved. Several weeks ago, however, his health failed and he departed Miami. The new Ross chemistry building, named in his honor, nearing completion and department he headed to move to the new structure. The new building has been constructed at cost of $286.-
During his 37 years at Alabama Polytechnic Dr. Ross has been and religious affairs this city. He was chairof the board the Methodist Church at one time served as member of the city Ross was widely known in scientific circles, and had written many scientific thesis for leading He the author of the bulletins of the Alabama Station. Born at Tuskegee /Dr. Ross born December 25, 1864 at Tuskegee and was the son the Bennett Battle Charlotte Augusta (Walker) Ross. Dr. Ross was educated the publie schools at Tuskegee, Huntsville and Auburn, after which he enterthe tained his Bachelor 1881. 1886 the degree Master of Science was After his post graduate work M. College, Dr. Ross went Baton Rouge, he professor 1887 1893 when he to Ala bama Polytechnic Institute In 1901, Dr. Ross obtained
22.April 4, 1930The Daily AdvocateGreenville, OH
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Accused As Cal's Bank Closes
Former President and Mrs. Calvin Coolidge were among the depositors in the Hampshire County Trust Co., Northampton. Mass., which was closed after two-day run on the bank had resulted from charges of embezzlement placed against Harold R. Newcomb, above, manager of the savings Newcomb was arrested and held under $50,000 bail. Officials disclosed a $285,000 short-
23.April 6, 1930The Daily O'CollegianStillwater, OK
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#ACCUSED AS CAL'S BANK CLOSES
Former President and Mrs. Calvin Coolidge were among the depositors in the Hampshire County Trust Co., Northampton, Mass., which was closed after a two-day run on the bank had resulted from charges of embezzlement placed against Harold R. Newcomb, above, manager of the savings department. Newcomb was arrested and held under $50,000 bail. Officials disclosed a $285,000 shortage.
24.April 15, 1930The Portsmouth StarPortsmouth, VA
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Accused, as Bank With Coolidge Funds Fails
Former President and Mrs. Calvin Coolidge were among the depositors in the Hampshire County Trust Co., Northampton, Mass., which was closed after two-day run on the bank had resulted from charges of Γ¨mbezzlement placed against Harold R. Newcomb. above, manager of the savings department. Newcomb was Officials disclosed short-
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
