gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
67caba1a964832b1
Response Measures
None
Events (4)
1.December 11, 1930Run
Cause
Bank Specific Adverse Info
Cause Details
Depositors ran after treasurer J. Malcolm Warren's suicide raised fears of defalcation or insolvency
Measures
Officers issued statements the institution was sound; neighboring banks made funds available to bridge the emergency
Newspaper Excerpt
run on the bank that was precipitated by the suicide by shooting of James Malcolm Warren, treasurer
Source
newspapers
2.December 11, 1930Suspension
Cause
Government Action
Cause Details
Directors on advice of Springfield bankers and the Deputy State Banking Commissioner suspended payments; state took control shortly after
Newspaper Excerpt
The West Springfield Trust company suspended payments to depositors this afternoon, following a run on the bank
Source
newspapers
3.December 12, 1930Other
Newspaper Excerpt
The state formally took over the affairs of the West Springfield Trust company last night and the bank will not open its doors this morning.
Source
newspapers
4.January 12, 1931Reopening
Newspaper Excerpt
The West Springfield Trust Co., which was taken over by the State Banking commissioner December 11... reopened today.
Source
newspapers
Newspaper Articles (22)
1.December 11, 1930The RepublicanSpringfield, MA
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Bank Man Suicide Run On Institution In West Springfield Follows the Suicide Of Bank Treasurer
President Horace A. Moses Advised By Springfield Bankers and State Banking Official to Stop Payments Temporarily In Justice to All; Dead Man Worried Over Personal Losses and Probability of Losing Position; Body Found By Janitor In Basement With Bullet Wound In Head
Representatives of the state banking commisstoner's office arrived at the West Springfield Trust company shortly before 8 this afternoon, and went into session with the bank directors, to consider further action, following the decision to suspend payments temporarily after a run on the bank.
The West Springfield Trust company suspended payments to depositors this afternoon, following a run on the bank that was precipitated by the suicide by shooting of James Malcolm Warren, 40, treasurer of the institution for the past six years. President Horace A. Moses of the bank announced that this action was taken on the advice of Springfield bankers and Deputy State Banking Commissioner Arthur Guy. A decision as to resuming payments to depositors awaited the arrival of two men from the state banking commissioner's office, who were expected late this afternoon. president of the Safe Deposit & Trust Springfield Bankers Advise Temporary
A. meeting of bankers, at the Institution for Savings was in session for nearly two hours considering the situation of the West Springfield Trust company All the Springfield banks stood ready with needed cash to help out the situation if necessary and continue payments. However, it was decided by the meeting that it would be fairer all depositors to suspend payments temporarily, until such time the bank examiner had more fully gone over the bank's affairs and the working capital had perhaps been increased. Among those present at the bankers' meeting were John B. Brand of the Institution for Savings, acting as chairman; William E. Gilbert, president of the Union Trust company, and Edward Kronvall, vice-
Bank Runs Out of Cash The decision to suspend payments came after the bank had paid out about $100,000 to depositors and had run out of cash. President Moses conferred with Springfield bankers regarding the ratsing of money on securities of the West Side bank. and then went into session with the directors of his bank. After the directors had met, President Moses went to the lobby of the bank, which was crowded with depositors waiting for their money, and told them of the decision reached. He advised them to leave the bank as nothing could be gained by waiting. Atty Walter McCarghy, counsel for
Continued on Page Twenty
2.December 11, 1930The Jersey JournalJersey City, NJ
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SUICIDE FOLLOWED BY RUN ON BANK of West Springfield, Mass., Trust Co., Kills Self.
Mass lowing the discovery the body treasurer of West this bank the and good made
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3.December 11, 1930The Evening SunBaltimore, MD
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Run On Bank Follows Treasurer's Suicide lowing the discovery of the body of J. Malcolm Warren. treasurer of the West Springfield Trust Company, in the bank building this morning. a suicide by shooting, run of depositors developed. Within short time some 200 persons thronged the banking rooms seeking to withdraw deposits. Statements were issued by officers of the bank to the effect that the institution was sound and in good condition. Funds were quickly made available by banks in this city to bridge over the emergency. Horace A. Moses, president of the bank, said that bank examiners had made a periodical visit to the bank
4.December 11, 1930The Boston Daily GlobeBoston, MA
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NO SHORTAGE DISCOVERED BY STATE EXAMINATION
Following reports of the suicide of J. Malcolm Warren, treasurer of the West Springfield Trust Company in that city, run on the bank, Acting Bank Commissioner Arthur W. Guy, said today that an examination of the bank's had just been completed on the premises and that no shortage had been discovered. The for $150,000 and has 000. Representatives of office of the Banking Commissioner left Boston for West Springfield further to investi-
5.December 11, 1930Delaware County Daily TimesChester, PA
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RUN ON BANK AFTER TREASURER'S SUICIDE
Dec. began "rim" today the West Springfield Trust Company on hours after the of Malcolm Warren. 40. bank treassinger former Presfrient Calvin Coolidge's building basement Cound In Church in wound in the head. suickle. Attempts by President Horace chairs rush the bank of depositors In Jobby birn, appeated mounted leave their money on deposit was perfectly "sound," bad the effect. bank of During 100 depositors. most of the forenoun line men. and was constantly in front of the trust company.
6.December 11, 1930The Berkshire EaglePittsfield, MA
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BANK OFFICIAL ENDS HIS LIFE
Continued from First Page that the continued the bank closed The body of Warren with the head was of the building by the janitor about this Death said to have been instantaneous. had exchange meeting last night, appearing good spirits, and went the bank rooms wards and there when the janitor after banking his fires. sure, Warren about 40 years came to the West Springfield bank from bank. He and three The for funds about in savings school children. has resources of somewhat than President Moses quarter million dollars' worth of the bank's negotiable for field banks order meet the of depositors their In order to avoid adding fusing to the the Gilbert largest industhe of pay checks to hundred and ployees late today. This pays checks drawn on the West Springfield Trust and the flock to the bank during the Thursday noon hour cash checks. By the issue of the checks until so that the checks would not be cashed untomorrow earliest. the entire solvency the bank, town anthat steps would of the town's funds that are in the bank. These include and other town funds
BOSTON, Dec. sentatives the bank office have already examined accounts the Springfield Trust since the company suicide of the treasurer, Arthur today. The reports were brought for study by the comoffice. The was placed and its surplus sugar trust today decided to for the present and has refused to further eight guilders sugar and seven for
BANK TREASURER SHOOTS HIMSELF
Left Note Stating Suicide Brought About by Per- sonal Loss body of Malcolm Warren, treasurer of the West Springfield Trust company, suicide by shooting, was found day in the bank building Within few hours more than 200 depositors thronged the banking rooms seeking to withdraw their money issued by officers of the bank said the institution was sound and made available by banks in this city to bridge the emergency Horace A Moses, president of the bank. a statement made known the contants of note addressed to him by Warren expiaining the motive for his suicide. The
BANK TREASURER SHOOTS HIMSELF
Body of J. M. Warren Found in West Springfield Trust Co.'s Rooms
DEPOSITORS START RUN ON BANK
President Says Institution Will Temporarily Close if Withdrawals ConDespondent Over Misfortune of Bank's Customers. SPRINGFIELD. Mass., Dec. 11 The body of Warren, treasof the West Springfield Trust Co., by shooting, found today in the bank building. Within few hours more than depositors thronged banking rooms seeking withdraw their money. Statements by officers of the bank said the institution sound and good Funds were quickly made available by banks in city to bridge the emergency. Horace Moses, president of the bank, in made known the of note to him Warren explaining the motive for his suicide. The his suicide could ascribed personal losses, the fear that he would lose his position in the bank at the end of the and by listening stories of fortune persons who the bank seeking and advised to that since greatly depreciated in value. Mr. Moses bank examiners had made the found everything in order. the Moses told them funds that the the doors would be body Warren with bullet wound found in the the building by the janiabout six o'clock Death to been instantaneous. an change pearing good spirits. went was the janitor bankabout 40 years old, came Springfield bank from He widow and three children. The depository West funds has about in more than according to the last official statement
Accounts Already Examined. BOSTON, Dec. the the the West Springfield Trust since the suicide the institution's Deputy Bank Arthur Nye today. The reports the brought here for study by the office. placed $150,000 and its surplus at
9.December 12, 1930The Springfield Daily RepublicanSpringfield, MA
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ACTION IS TAKEN AT THE REQUEST THE DIRECTORS
No Defalcation Found in Accounts of J. M. Warren Who Killed Self
BANK IS SOUND, STATE OFFICIAL SAYS
General Feeling of Confidence in Solvency of West Springfield Trust Company Expressed by Citizens
The state* formally took over the affairs of the West Springfield Trust company last night and the bank will not open its doors this morning. Arthur Guy of Framingham, deputy coommissioner of banks, announced this fact early this morning following a series of conferences lasting until well past midnight. Negotiations are pending, it was said, through which it is hoped to reopen the bank "at an early date." No defalcation by the treasurer, J. Malcolm Warren, whose suicide started the run on the bank yesterday and brought about suspension of payments, has been discovered by bank examiners, it The passing of control into the hands of the state is thus not caused by any discovery of shortage, but accomplished at the request of the directors themselves. Bank officials generally believed that the interests of could be best served by
Brimmer In Charge The West Springfield Trust commanaged during this period of state control by Eugene director of state of trust companies, Bursley, bank examiner. Both these with Mr Guy, participated yesterday In his formal statement, Mr Guy
(Continued on Second Page.)
10.December 12, 1930The Lewiston Daily SunLewiston, ME
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WEST SPRINGFIELD BANK RUN CAUSED BY SUICIDE
Dec. the discovery the of Malcolm Warren, Treasbody the West Springfield Trust in the mornwithin short some persons the seeking deposits. issued officers the bank were to effect that the institution sound and good funds banks this city to bridge over Moses, President of the Horace bank, made known the text note addressed to him the dead bank treasurer, for his suicide. Mr. had made visit the within week had found everything should Warren said that suicide ascribed personal losses, the fear that he his position in the bank of year listening stories persons came the bank ing loans those whom had vised securities had since greatly depreciated in value. grew Moses them that funds meet all the the bank doors would closed temporThe body of Warren who was and had been treasthe seven years, the the byNlet had fired into the death said to have been inPending the arrival of bank examiners, directors voted suspend 2.15 o'clock this afternoon. After that began early day came known that Warren suicide. the bank its liquid that the advice the bank examiners be sought to the advisability of an immediThe has tied in real to effect an immediate realization.
11.December 15, 1930Springfield Evening UnionSpringfield, MA
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Bank's Affairs Marking Time
Officials Reiterate That Depositors Will Lose
The affairs of the West Springfield Trust Company, which suspended pay "24 hours nearer solution.' state bank in charge of the this morning, but they were the direction in which able solution seemed to The bank suspended payment after sun followed the suicide of J. colm the whose body was the bank Thursday morning. doors the bank today Dermit the These that is to bank and the of set of made that the and there no that either or
12.December 16, 1930The Morning UnionSpringfield, MA
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Checking of Bank's Books Nears End
West Side Trust Company's Officials Still Uncertain of Reopening Date.
Although progress was reported last night negotiations of West Springfield Trust Company officials to effect arrangement whereby the bank may open shortly. there was no information to when funds will be available to depositors State banking examiners no have been checking the records of the institution have almost that task and have not found they said of the West Springfield Trust understood to have several of reorganization in mind but have yet to decide upon any one They are making decided effort to the bank soon possible. The bank suspended after run caused by the suicide of Malcolm Warren. treasurer The doors of the bank remained to permit depositors to consult representatives of the state banking commissioner, who 18 now in possession of the Institution. These officials said that their duty is to protect the assets of the bank and to await action by the trust company's board of directors bring about settlement of the difficulties. It is still being made plain-that the bank is in sound condition and there no indication that either depositors or stockholders will lose a cent as result of the suspension
13.December 22, 1930The RepublicanSpringfield, MA
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DEPOSITORS ON WEST SIDE PESSIMISTIC
Lack of Information When Bank Will Reopen Is Causing Uneasiness
While officials of the West Springfield Trust bank have maintained ence as to what the latest developments bank's situation have the friends the have less emphatic their voiced liefs that the trust company before Christmas accordance the hopes of President HorMoses. rumors circulated among the institution business "the day before Christmas,' first of the Bank directors, members of the state ficials in the company Members the the committee questioned by reporters for during past several days invariably have referred the into Moses. When possible reach Mr Moses, the has out that are not sufficiently out be In the meantime there have been "leaks" one kind and another, that West Old Colony Trust credence. that has been ingiven out by Mr Moses yesterday. Moses and McCarthy Confer With Officers Mr visit brief duration the the The purpose the and ter McCarthy, attorney for bank, was also conference the officials today usual, inquirers Moses. The could be reached for the morning and from no the be given out. The trust doors open still charge the state officials. on mortgage notes are being made daily, no deposits and Springfield closed its sult run the bank the suicide of its treasurer, MalWarren.
14.January 9, 1931The RepublicanSpringfield, MA
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that permission to not given the officials until the commissioner was satisfied that everything was as should be as regards cash on disposition of frozen assets, etc. public, therefore, has right to expect that the condition of the bank sound, since the nouncement not made hastily, but after sufficient time has elapsed over all the details with extreme care. Indeed, the commissioner still the helm of affairs in the institution.
All taken into consideration the prospects for the future of the West Springfield Trust company are encouraging. will need an expression of confidence the part its patrons. This hoped it have that the may community will not lose its single banking institution of this character which will, if full confidence stored, not be swallowed up by one of its neighbors on this side of the river. Community pride will doubtless show itself in the immediate ture as far the bank concerned. Meanwhile the officials to are felicitated on arriving at satisfactory solution of problem that under existing conditions was none too easy to solve. ployment and then hastily pass on something The trolly company both kinds policies, and paydepends the car. former Gov Allen ought decide which should universally prevail the lines.
Deputy Sheriff Denis Hogan has opened offices 1456 Main streetnumber easy remember, eh? Also licensed auctioneer. He has office and telephone looking for deputy sheriff shouldn't have look long.
And Denny somewhat singer (well, the "somewhat to be fair he will glad to oblige time with his latest song, got my little sign above the door, isn't 'Councilman' there any more; 'Sheriff's Deputy." business Observe little sign above the door. used represent good old ward council knew what ward' not the the game, With politics done and like to live the good old days But City hall won't me any more. my of blue other work do, And got sign above the mind that concerned with facts, the strong the spent Lucas to defeat Norris more odor of Republican tional committee funds than the perfume of Lucas's personality.
To those who have attempted to minimize to those have opposed relief, the conclusions chairman the emergency employment committee that there beand jobs and that expenditures involving $2,500,000,000 would be quired for relief, must be Woods's comment also on the relationship between poverty and crime should some awakening of those who have been slumbering peacefully in sense false security which Coolidge's daily offerings attempt instill.
There always the menace that exists all times from real criminals, but the menace that men turning crime they cannot obtain honest one far more serious proportions and potentialities.
The want and hunger, not only the but also of their families, that turn previously honest crime by the most rious disgrace dishonor that could upon any nation, particularly nation that boasts of its enormous riches.
President Green of the American Federation Labor statement that the responsibility the business depression unembe laid at the doors the leaders industry, banking and stated fact that cannot denied. their greed for wealth that blinded them the sity of broader distribution of least profits. Wealth in itself not make for security its sion. Just as the est menace its greatest security. When workers share on basis sound the wealth they help create they and happy in work they do and in the return brings them. On the great corporation bonus annually an already executive out earnings, which othhelped to make possible, can other but ating discontent what nation never progress stable basis, the cycles industry never ironed out, busidepressions and the physical soul anguish they entail and crime never until leaders industry, banking finance the responsibility that theirs and to sense the obligation that theirs in far greater Col Woods to hope that the situation making for such awakening. should nothing that prevent this nation from the most the richest in spiritual things populated by happy and peaceful people.
15.January 9, 1931The RepublicanSpringfield, MA
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REOPENING OF BANK
It was with feeling of great lief and gratification that many sons the announcement that the West Springfield Trust company will resume business Monday. Its wholly unexpected closing brought about by the tragic act of one its employes which precipitated panicky feeling among some of the depositors who, thereupon, gaged in on the bank that the officials and the state bank commissioner nothing to do but shut shop temporarily after nearly $100,had been paid out to depositors. Now, the word of the same bank commissioner, the institution found to be "sound and solvent." Not only that, but has ahead with the precautionary measure of turning its of sufficient amount to pay off all the depositors they should elect to demand upon the resumption business by the bank nex+ must taken into consideration
16.January 12, 1931The RepublicanSpringfield, MA
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BUSINESS IS
Continued From Page One bank, banded parcels of brand there air efficiency about the trust company's interior. Quiet Orderly the bank promptly on opening bank opening this and stream entered and pink during the mornhours. Inside bank and officials. treasurer, charge, by Ernest Pelton, Raymond Flagg, member board of directors. The was many of those Springfield police hand measure. tioned outside bank equipped motor car, and guard the bank's the bank's regular attendant. offithe pleased the manner which business being and that and good positors indication that confidence the bank has restored.
New Treasurer Duty Robinson, whose election final taken by board business Springfield New Bedofficial bank that He has had many cluding years as state banking The reopening of the West Springfield comes closing. trust company the banking following bank from for weeks effort until the present plan was worked out which bank in cash for the meeting of any emergency.
17.January 12, 1931The Jersey JournalJersey City, NJ
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Springfield, Mass., Bank Reopens
Mass. West Springfield Trust Company. which taken by the state banking commissioner when run followed the suicide its depleted its funds, reopened for no evidence continuance the run: fact bank officers that deposits numbered about funds had placed in the vault to meet guard The Harry Robin his duties in of Malcolm suicide just prior to the beginning of the
18.January 12, 1931Evening StarWashington, DC
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Massachusetts Bank Reopens. SPRINGFIELD, Mass., January 12 (P).-The West Springfield Trust Co., which Who taken over by the State Banking commissioner December 11, when a run that followed the suicide of its treasurer depleted its funds, reopened today.
19.January 12, 1931Brooklyn EagleBrooklyn, NY
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Steel Outlook
More Optimistic Than for Months
Some Predictions Are for 60% S. Corp. Satisfied at 50%
Since beginning of this year there has been some increase in new buying of steel This has come as surprise to for was the popular that demand would small until toward the end of February The present belief is that gain will continue gradual and as result will permit increases in steel mill operations in the few Some of the optimistic interests outside the steel trade have been talking of rate of as high R.S 55 or 60 ingot produstion for the U. S. Steel Corporation by the first of next month It known operating officials will be satisfied reach 50 percent by the end of February Rail mills have become active in recent weeks on contracts which were placed by carriers toward the end of last year Plants supplying some of the automobile also have doing better and there is hope that with more for building operations there will an increase in structural steel demand for spring delivery The Immediate outlook more hopeful than it has been months
TRUST COMPANY REOPENS The West Springfield Trust Company, which taken over by the State Banking Commissioner Dec. 11, when run that followed the suicide of its treasurer depleted its funds. reopened for business today with no evidence of continuance of the run. In fact bank officers said that deposits outnumbered withdrawals
20.January 12, 1931Biddeford-Saco JournalBiddeford, ME
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Mrs. Charles Brackett, recently. Mr. Brackett, who is ill, remains about the same. Mrs. Ivy Twombley spent the with relatives at Sanford. Miss Bessie Smith attended the convention at Portland high school auditorium Friday. Taylor called on friends in Alfred Friday afternoon. Fred Kimball, Carlton Kimball and Harold Kimball enjoyed fishing trip at Kennebunk pond over Miss Blanche Carpenter of No. Waterboro, student Gorham Normal school, boarding at the home of Mr. and Mrs. John Carpenter. Miss R. Mae Carll, who has been ill with severe cold, is able to be out doors. Edgar Smith who attended the state legislature Augusta, spent the at his home at Waterboro Old Benjamin Hamilton motored to Sanford Friday. The will meet at the home of Mrs. Christine Ricker Thursday afternoon at The freshment committee consists the following: Mrs. Bertha Walker, Mrs. Lizzie R. Hobbs and Miss Edith C. Abbott. There will be joint meeting of the men's and women's farm bureaus at the grange hall Friday at 10.30 members are requested to be present at this time. Raymond Lovejoy Sanford, the county agent, and Miss Clara M. Bronson of Sanford, the home demonstration agent, will be present. Dinner will be served at noon by the following committee: Mrs. Ruth Smith, assisted by Mrs. Georgia Thyng and Mrs. Mamie O. Ricker.
West Springfield, C. Robinson of New Bedford named treasurer and secretary of West Springfield Trust company, which reopening after being closed since December 11.
21.January 13, 1931The Philadelphia InquirerPhiladelphia, PA
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PHILADELPHIA STOCKS, JANUARY 12, 1931
Net Sales High Amer Stores Wheel Camden Dairy Victory Bros Mfg 87 sales for Plus Including cash stock cent. stock 500 10% 10% common stock 24 Hds
Call funds were quoted officially and some dealers cent. with thirty day money loans at per United States Governments Liberty 4th duplicated their 1930 103 and closed 32nd under that figure Turnover Treasury issues was light compared with recent sions but prices ruled firm Brazilian Government and State loans buoyant. Brazil nearly Sao Paulo rose Porto Alegre Rio Grande do Sul bonds actively The and Argenadvanced 1%
New York Sugar Market with world the RAW and comSUGAR prices spots Feb later Sales 3150 demand for Porto prompt shipment were Philippines for March shipment upturns raw futures result Bay State Bank Reopens covering trade buying were market closing West Springfield Trust Comlater which was taken over by the London State Banking Decemfailed ber when run that followed the and late cide of its treasurer depleted its funds, liberal reopened for business today with no more evidence continuance of the run. In bank officers said that deposappeared and await its outnumbered withdrawals.
22.April 22, 1931The RepublicanSpringfield, MA
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BANKING EXPERT WELL KNOWN IN THIS SECTION IS ON MISSING LIST
Guy L. Vaughan Worked On Northampton and West-Side Cases
Guy L. Vaughan, the banking ex pert whose discoveries in Hamp shire Trust company of Northampton finally sent Harold R. (Dick) Newcomb to state prison for from 8.to 10 years and in West Springfield for several weeks straightening out the difficulty brought about by the suicide of Malcolm Warren, the West Springfield Trust company treasurer, and the resultant run on the bank. has after leavthe five defunct pri vate of which er, in tangled condr* State Bank Commissioner Arthur revealed yesterday that Vaughan has been missing since April although business associates have reported that they have been unsuccessful in getting in touch with him for at least Norman Chadwick. state bank examiner, made affidavit that a hasty survey of Vaughan's affairs revealed that there were irregularities due principally to of funds several banks in charge and that and "negligently and carelessly" handled these affairs. to Vaughan's parents, Mr and Mrs Robert Vaughan of Melrose, he went to Washington on busi-
Continued on Page Twenty,
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.
