gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d32ad54962558dee
Response Measures
None
Description
Articles refer to the institution as Milford Savings Bank and indicate failure in the 1893 panic; name variant noted.
Events (3)
1.January 1, 1893*Suspension
Cause
Macro News
Cause Details
Closed as a result of the nationwide 1893 panic which forced the bank to cease operations.
Newspaper Excerpt
the panic, which forced the bank to close its doors.
Source
newspapers
2.April 10, 1905Receivership
Newspaper Excerpt
The affairs of the Milford Savings Bank ... have been wound up by the assignees who, today, filed their final accounting in the Hillsboro county court.
Source
newspapers
3.May 3, 1905Other
Newspaper Excerpt
Assignee Carl E. Knight of the Milford Savings bank today paid a final dividend of four per cent to depositors, thus closing out the affairs of the institution.
Source
newspapers
Newspaper Articles (2)
1.April 11, 1905Daily Kennebec JournalAugusta, ME
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Article Text
AFFAIRS CLOSED. Bank Failures of 1893 Wound Up By Assignees. Manchester. N. H.. April 10.-The affairs of the Milford Savings Bank of Milford: Wilton Savings Bank of Wilton and Bank of New England of this city, have been wound up by the assignees who, today. filed their final accounting in the Hillsboro county court. The Bank of New England depositors received 96 per cent. of their deposits; the Milford Bank has paid 99 per cent. and the Wilton Bank, 85 per cent. All three failed as the result of the 1893 panic which closed dozens of New Hampshire institutions.
2.May 9, 1905The Providence NewsProvidence, RI
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Article Text
DEPOSITORS IN FAILED BANK RECEIVE 99 CENTS ON DOLLAR Milford, N. H., May 3.-Assignee Carl E. Knight of the Milford Savings bank today paid a final dividend of four per cent to depositors. thus closing out the affairs of the stitution. The bank had assets of $1,500,000 in 1893. the year of the panic, which forced the bank to close its doors. Depositors received in all 99 cents on the dollar.
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.
