Rollinsford Savings Bank (Salmon Falls, NH)

Episode Information

Episode UID
54013370937
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
5401337 routing
Routing Number
54-0133
Start Date
January 3, 1878
Location
Salmon Falls, New Hampshire

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2470eb0dc93a1227

Response Measures

None

Description

Sources say the bank 'suspended' and also 'will retire from business,' making permanent closure plausible but not fully documented.

Events (1)
1. January 3, 1878 Suspension
Cause
Voluntary Liquidation
Cause Details
Bank announced it would receive no more deposits and would pay depositors from sale of securities and 'retire from business'; assets said sufficient if time allowed
Newspaper Excerpt
The Rollinsford Savings Bank, of Salmon Falls, N. H., has given notice that no more deposits will be received for six months
Source
newspapers

Newspaper Articles (6)
1. January 4, 1878 The Wheeling Daily Register Wheeling, WV
Article from The Wheeling Daily Register, January 4, 1878

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HARD-PAN. Feeling the Bottom-Long List of Business ailures-Resumption and Rule. CHICAGO, January 2.-The following failures are reported in this city to-day: W. a loan a Joseph broker, filed Helmer, voluntary real The estate petition and in this morning. debts to ties valued at bankruptcy nominally amount $126,293.12, $106,850. with secured securi- The unsecured debtsare valued at $37,540.45. The assets are lands heavily mortgaged, bills of exchange and promissory notes. Levi J. Anna, a hatter, has filed & voluntary petition in bankruptcy. Secured debts, $500; unsecured, $4,000; assets, $214,675. Norman C. Perkins, & lawyer, filed a voluntary petition in bankruptcy. Pre. ferred debts, $15,513; secured, $37,571.60; unsecured, $22,400; sets, $30,000. Amos H. Woodrud, a coal dealer, has filed a voluntary pet n in bankruptcy. Preferred debts, $22, secured, $45,725: unsecured, $80,532.90 ssets, $20,000. January 2.-W. P. city, made an MAYSVILLE, Lurtey, dry assignment Kr., goods merchant in Cincinnati of this A. to H. C. R. The assets are yesterday R. Maltby. Barkley liabilities. and said Domestic Colonel to be greater than the inharmoniousness is the probable cause, SPRINGFIELD, O., January Mr. Isaac a of Shermanized. Livingston, Liabilities clothier about this $6,000. place. The assets, it is said, will not reach $2,000. H. M. Shepherd is the assignee. ZANESVILLE, O., January 2.-Mar. shall an old made an place, & Sauer, assingment tobacco to-day. firm of Lis- this bilities about $2,500; assets about the same. MARION, IND., January 2.-J. H. Reiff, boot and shoe dealer of this place, made an assignment to-day. Liabilities about $3,500. GRAND RAPIDS, MICH. January 2 of Tower & Milis, leading merchants Ionia, were to-day adjudicated bankrupts. DESMOINES, IA., January 2.-Randolph A. Knight, formerly a leading merchant here, has gone int bankruptcy IND., of the State relative to report Bingham, INDIANAPOLIS, the Examiner, January financial 2-The J. con J. dition of the Indianapolis and State Sav. ings Banks, of this city, was made public In the case due tioned, 762 92; to-day. the Examiner depositors, gives $327,330 of the assests, first 10. $843.- men. State Savings Bank, assests, as estimated, $85.513 68; liabilities, due depositors, $84. 556 78. Concerning the last mentioned the Examiner says there has been an error in paying larger dividends than the net earnings warrant INDIANAPOLIS January2.-Thisevendirectors voted to Bank to-morrow Savings g the close of morning, the the deposi State and begin the work of paying not business. 18 tors tinuance the of profits bonds There warracting and about demand a $50.- con000 in cash, county notes, which can be realized upon within thirty days, on hand, and it 18 thought the other assets will be found adequate to meet dollar for dollar if time is given, although it may require six months to fully wind up the affairs of the institution. Concerning the Indianapolis Savings Bank, the Examiner compliments its management, and assures depositors that their deposits are safe. GREAT FALLS, N. H. January 3.-The Rollinsford Savings Bank, of Salmon Falls, has notice that no given six more de months, will be received for but the sales of the most securities will to or posits from pay all depositors, available on cent. before 1st, accounts, on their February respective twenty-five the bank and per realiz- last ing from the assets of as 88 with the best will continue to consistent ment, There possible reduce manage- the heavy debt due depositors. were no losses, or of any, of the times. depression prospect The other bank than has the $750,000 in deposits. NEW ORLEANS, January 3.-Cheem Boyce, sugar trade, have suspended. Cause, failure of the sugar crop. CHICAGO, January 3.-The committee appointed to investigate the affairs of J. D. Easter & Co. bankrupts, dealers in agricultural implements, reported to the creditors to-day. The assets are in such a bad condition that, althoughthey equal the liabilities ($1,500,000), the creditors will hardly rea aze over thirty-five cents on the dollar. The assets are largely farmers' £0.08 and depreciated property, which is given as security to pre erred creditors. The liabilities are scattering. DESMOINEA, IA., January 3.-I. N. banker Side, Thomas, on the a private East suspended doing business to-day claimLiabilities, $25,000; assets $48,000, good to ID ed to to be be able tolerably pay dollar Thomas for dollar claims sixty days.

2. January 4, 1878 New-York Tribune New York, NY
Article from New-York Tribune, January 4, 1878

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SAVINGS BANK TROUBLES, THE ROLLINSFORD SAVINGS BANK. GREAT FALLS, N. H., Jan. 3.-The Rollinsford Savings Bank, of Salmon Falls, has given notice that no more deposits will be received for six months, but from the sales of the most avaiable securities it will pay to all depositors, on or before February 1, 25. per ceat on their respective accounts, and realizing from the assets of the bank as fast as consistent with the best possible management, will continue to rednce the debt due depositors. This course is decided upon under no heavy losses or prospect of any other than the depression of the times. The bank has $750,000 in deposits. THE YORKVILLE, ORIENTAL, AND ABINGDON SQUARE SAVINGS BANKS. ALBANY, Jan. 3.-Justice Landon, at Schenectady, has granted leave to Vedder Vandyek, receiver of the York ville Sauings Bank, to bring suit against John McQuade for $4,000, Francis T. Twomey for $4,000; against trustees of the bank who have received dividends illegally, and against Charles Jones and Thomas P. McQuade, for overdrafts. The receiver reported that the books showed a contingent liability in favor of Henry W. Genet for $17,469 10, which, soon after Genet's departure, was appropriated by the officers of the bank and asked permission to examine the officers as to why they had appropriated the sum. when it belonged to Genet. Permission was granted. Justice Learned has approved the $40,000 bond of Robert Hoe, Stephen D. Tucker, Geo. G. Hallock. Peter 8. Hoe, and Win. L. Colby, receivers of the Oriental Bank. Justice Landon has confirmed the settlement made by Frank Thompson, receiver of the Abingdon Square Savings Bank, with certain trustees of the bank. THE MINERS' TRUST COMPANY'S BANK. POTTSVILLE, Penn., Jan. 3.-Messrs. Russell and Madden, assignees of the Miners' Trust Company's Bank, of Pottsville, filed their first account yesterday. This statement shows the assets to be $233,206 65, and the bal ance in their possession for distribution amougst depositors is $13,146 72, which will pay nearly 1 per cent of the whole indebtedness. INDIANAPOLIS STATE SAVINGS BANK TO CLOSE. INDIANAPOLIS, Jan. 3.-The State Savings Bank, of this city, has petitioned for, and obtained, authority from the Auditor of State to surrender its charter and go into liquidation. The assets are sufficient to cover all Habilities. Twenty-five per cent will be paid to depositors at once, and the balance within six months.

3. January 10, 1878 The Eaton Democrat Eaton, OH
Article from The Eaton Democrat, January 10, 1878

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pestilence and and civil commotion, friendship reconciliation between those heretofore estranged." The State debt of Kentucky is $183,394. She has resources to enable her to bear up under this burden-$1,368,142.20, to say nothing of a claim against the Federal Government of $397,587.27. Considerable excitement has prevailed in New York by the announcement of the failure of John Bonner & Co., No. 32 Broad Street, one of the oldest houses on the street. The firm has made an assignment to B. W. Griswold. the It is said that the firm pursued same methods charged against Netter & Co., rehypothecation of securities. Liabilities are said to be quite heavy, and several prominent speculators are mentioned as considerable losers. Intelligence of the failure has had a depressing effect on the stock market, and some of the leading shares are down one per cent. The Pennsylvania Legislature met at noon on January 1. In the Senate, Thomas V. Cooper was chosen Speaker, pro tem., this being an adjourned session of the Legislature of 1877. With but few exceptions, the officers of both houses are the same as last year. For the first time in the history of Virginia since colonial times its Governor, Col. F. W. M Holliday, was inaugurated January 1, with all the display and pomp of grand public demonstrations. The Governor, in his inaugural address, takes the strongest grounds for the maintenance of State credit, making the points that the debt was created to provide improvements which the State now posseses, and from which it daily derives profit; that the war effected no change in the relations between theStateand its creditors; that no one questions the obligations of the debt, the laws under which it was created, or the benefits the conferred upon the State by property its proceeds brought, and that the General Assembly should direct its utmost efforts to the question how to pay, and denounces the course of those who seem to strive how not to pay. The address declares Virginia can not escape her liabilities, which all men acknowledge, except by a process similar to a schedule in bankruptcy, with surrender of assets, and concludes this subject with a declaration of belief in Virginia's ability to meet her obligations. Great applause greeted these statements. The Governor seemed to consider the debt question to be the only one of greatimportance before the people. Governor Hartranft, in his message to the Pennsylvania Legislature, says that affairs of the Commonwealth are shown to bein reasonably satislactory condition. The Governor recommends the creation of the office of Bank Examiner and Commissioner. A great portion of the message IS devoted to a and narration of the events of the July riots, suggestions regarding the prevention d of a recurrence of similar troubles. It also recommends the passage by the Legislature at of the act prepared by the War Department Washington, designed to facilitate the transfer the to the United States of the title to Antietam National Cemetery. In recommending the creation of the office of Bank the Examiner, the Governor calls attention to d project for a national savings fund, and while pointing out the great influence which it would give to the Federal Government, or dominant party, he considers it worthy of support and co-operation. t A special from Marquette, Michigan, says that while a Chicago & Northwestern boxthe car was being loaded with nitroglycerine, at Jackson mine, near Negaunee, the mass exploded, instantly kilting seven men and demolishing the car. The locomotive n lifted into the air and thrown fifty feet, was and d landed in a confused heap of wood and iron. d The ship Nebro, from Coscumpee for Prince Edward's Island, has been lost with nine men on board. Three bodies have been washed ashore at New Frage. The little village of Ferndale, Pa., has d just been shocked by a terrible tragedy. ce John Haddock, in a fit of jealousy, murd dered Miss Lizzie Davis, with whom he 1e was madly in love, by stabbing her several times with a knife and shooting her with revolver, and then fired a bullet through a his own heart. Banker Bunn, of Springfield, Ill.; the State Savings Bank of Indianapolis, and the Woburn five-cent Savings Bank, are among of the number placed on the suspension list. 1e Joseph W. Helmer, real estate and loan of broker; Levi J. Anna, hatter; Norman C. n Perkins, lawyer; Amas H. Woodruff, coaldealer,-all of Chicago,-are the reported failures of a single day. y Fifteen bodies have been recovered from W York. the ruins of the Barclay Street fire, in New I. The Massachusetts Legislature met in n joint session on the 3d., Governor Rice, in dhis message, favors pacification and civil service reform. m The Maryland Legislature organized on to the 3d. Edward Lloyd was elected Presirs dent of the Senate, and F. S. Hoblitzell d Speaker of the House. The Governor's 1d message shows that the net debt of the È State, for which interest must be provided, he is $6,396,322. SO Gevernor Connor was inaugurated Gov ly ernor of Maine, January 3. erThe Rollinsford Savings Bank, Salmon ut Falls, N. H., has given notice that no more deposits will be received for six months re but that from sales of the most available es, securities the bank will pay to all depositors at on or before February 1 twenty-f

4. January 12, 1878 American Citizen Canton, MS
Article from American Citizen, January 12, 1878

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LATE NEWS ITEMS. o The President has issued an order discontinuing the Sioux City Land Office, and directing its business and archives to be transferred to Des Moines, Iowa. There e are now less than 2,000 acres of public lands in Iowa fully subject to disposal by the Government. e The Rockland County National Bank, of Nyack, N. Y., has suspended. The Indians recently attacked a stage t coach in Bassey Canyon, Western Texas, captured the four horses and killed both the driver and Gabe Valdez, the division Superintendent of the stage line. John Bonner & Co., a well known firm of New York brokers, failed on the 21st, with liabilities amounting to some $400,000; no assets. The suspension also brought down the Bankers' and Brokers' Association, with whomthey had large dealings. The Legislatures of New York and Pennsylvania convened on the 1st. A charivari party who were serenading a newly married couple, Mr. and Mrs. Philip Mertz, at Monroeville, Allen County, Ind., the other night, were fired upon with buckshot, several of the party being badly wounded. Jacob Harness was hanged at Clinton, Tenn., on the 29th, for the murder of Isaac White, more LafayThe Ind., German committed has gone Savings into than Bank liquidation, 14 years of ago. ette, but promises to pay all depositors in full. The old Bull's Head Bank of New York City is to be wound up. Its capital is said to be impaired to the extent of $50,000, but depositors will be paid in full. Henry Underwood, said to be one of the Union Pacific train robbers, known as Thomas Nixon, was recently arrested at his home, 72 miles west of Sherman, Texas, and to lodged in jail at Omaha. There appears be some question as to his identity. Marshall Jewell, President of the Charter Oak Life Insurance Company, informs policy holders that unless they consent to the scaling down of their policies 40 per cent. the company must go into bankruptcy. The banking-house of Jacob Bunn, Springfield, III., suspended on the 2d. Liabilities about $900,000, and assets sufficient to pay all debts, it is said, if time is allowed and property not sacrificed. The large amount of unproductive real estate held by the house is said to be largely the cause of their failure. A frightened team backed a wagon, containing Mrs. Morris Goodloe and four children, off the bridge over Obion River, Tenn., on the 2d, resulting in the drowning of the four children. The State Savings Bank of Indianap olis has petitioned, and obtained authority from the Auditor of State to surrender its charter and go into liquidation. The assets are sufficient to cover all liabilities. Twenfive per cent. will be paid to depositors at once, and the balance within six months. The Rollinsford Savings Bank, at Salmon Falls, N.H., has suspended, with $750,000 of deposits. The assets are said to be amply sufficient to payall claims, if time can be had to realize their value. The banking-house of I. N. Thomas, at Des Moines, Iowa, closed on the 3d. Depositors are promised to be paid in full. Virginia experienced an earthquake shock on the 2d. There was a fraternal gathering of Mexicans and Americans at a ball given by the Mexican officers at Matamoras, Mexico, on New Year's night. A large number of officers of both armies were present, and the most cordial feeling was exhibited. Steam-boiler explosions in the United States during 1877 caused directly the death of 131 persons and the maiming of 123 others. At Montpelier, Blackford County, Ind., on the 4th, J. J. McGrew, a merchant, shot and killed Kitter Kreutzner, a farmer. The latter was known as a dangerous chara acter, and the shooting was the result of threatened attack upon McGrew by Kreutzner. p At Wheeling, West Va., on the 3d, Henry a once shot on d wealthy, Daub, himself well known his his citizen, second first wife's grave, after a quarrel with wife, n which it is said she turned him out of the house. A number of Fenian prisoners who to were sentenced to life-long penal servitude to in 1866 have been released on ticket-ofleave. Among these are Color Sergeant p McCarthy, Corporal Chambers and Private O'Brien. The Panama Star and Heraid. has to m further particulars regarding the loss of the teamer Atacama, from Valparaiso to Calfo ao, which went to pieces on a rock near the the on the night e of on board, were Chilian/coast 124 persons only of Nov. 30 30. saved. Out S] The old established banking-house of ce Peddicord and Burrows, Decatur, Ill., susended on the 5th. C g WAR NEWS. W

5. January 17, 1878 The Centre Reporter Centre Hall, PA
Article from The Centre Reporter, January 17, 1878

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NEWS SUMMARY. Eastern and Middle States The Rockland County National Bank of Nyack, N. Y., has suspended payment. The body of Herzberger, the engineer in the New York candy factory, where the recent terrible explosion took place, has been recovored from the ruins. By an explosion in a mine near Wilkesbarre, Pa., seven persons were injured, one mortally. Seventy-five thousand tons of Seranton coal were sold in New York at an advance on previous prices. The trustees of the West Boston Savings Bank voted to close up the institution in the most economical manner possible. After a trial of several days Mayor Ely withdrew the charge of inefficient and capricious enforcement of the laws, made against the police commissioners of New York. George M. Brooks' bank of Lowville, N. Y., has suspended payments, the liabilities being placed at $60,000. At a dinner given to General Banks in Boston Hon. Benjamin F. Butler made a speech, denonuciatory of the President for not upholding Packard and Kellogg in Louisiana. Five buildings were burned in Jamaica, Long Island, and a loss incurred of $12,000; and in Westerly, R. I., several houses were destroyed by fire, the damage being estimated at $80,000. At Boston, Mass., the arrest of George B. Bigelow, a well-known lawyer, took place on the charge of having misappropriated the sum $40,000, which was held in trust by him. The New York Legislature met in Albany and organized, James W. Husted (Republican) being elected speaker of the assembly. John Bonner & Co., well-known stock brokers of New York city, failed. The amount involved by their failure is about $1,000,000, and upon the heels of the financial fall of the firm came the suspension of the New York Bankers' and Brokers' Association, of which Mr. Bonner was president, and all of whose available resources be had utilized. Many bankers and brokers had left securities in the hands of the firm as collateral for loans, and these securities could not be found, as Bonner had fled from the city just before fhe crash. Three more bodies have been recovered from the ruins of the New York candy manufactory. The Pennsylvania Legislature met at Harrisburgh and organized. One hundred failures and assignments were reported in New York in December, the aggregate liabilities of which were nearly $8,000,000. Miss Lizzie Davis, aged nineteen was stabbed and instantly killed in her home in Ferndale, Pa., by John Haddock, aged twenty-one, who then proceeded to his house, & few doors off, and shot himself through the heart. Jealousy is believed to have led to the double tragedy. Thomas 8. Lambert, ex-president of the American Popular Life Insurance Company, of New York, recently found guilty of perjury in swearing to false statements of the company's condition, was sentenced to five years' imprisonment at hard labor in the State prison. A fire at Salem, N. J., destroyed a number of buildings in the business part of the place, doing damage to the extent of about $40,000. Two excise bills and & New York city charter amendment have been introduced in the New York Legislature. At a meeting of the directors of the Bull's Head Bank, of New York, it was resolved to wind up the affairs of the institution. Governor Conner was inaugurated at Augusta, Me., and Governor Rice at Boston, Mass. Four of the former managers of the Charter Oak Life Insurance Company, of Hartford, Conn., have been indicted for conspiring to defraud the policy holders, as alleged in the complaint. The Woburn Five Cent Savings Bank, of Woburn, Mass., has been enjoined from doing futher business : and the Rollinsford Savings Bank, of Salmon Falls, N. H., has given notice that it will pay up depositors as fast as possible and retire from business. A fire in Harrisburg, Pa., destroyed the malt house of B. M. Greider & Co., causing a loss of $70,000, on which there is $55,300 insurance and A fire in Franklin, Pa., burned down Bailey's block, causing a loss estimated at $30, 000, on which there is & partial insurance. Several vessels were wrecked and many lives were lost by a severe storm of wind and snow along the Atlantic coast in the vicinity of Cape

6. January 19, 1878 San Marcos Free Press San Marcos, TX
Article from San Marcos Free Press, January 19, 1878

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ette, Ind., has gone into liquidation, but promises to pay alldepositors in full. The old Bull's Head Bank of New York City is to be wound up. Its capital is said to be impaired to the extent of $50,000, but depositors will be paid in full. Henry Underwood, said to be one of the Union Pacific train robbers, known as Thomas Nixon, was recently arrested at his home, 72 miles west of Sherman, Texas, and lodged in jail at Omaha. There appears to be some question as to his identity. Marshall Jewell, President of the Charter Oak Life Insurance Company, informs policy holders that unless they consent to the scaling down of their policies 40 per cent. the company must go into bankruptcy. The banking-house of Jacob Bunn, Springfield, III., suspended on the 2d. Liabilities about $900,000, and assets sufficient to pay all debts, it is said, if time is allowed and property not sacrificed. The large amount of unproductive real estate held by the house is said to be largely the cause of their failure. A frightened team backed a wagon, containing Mrs. Morris Goodloe and four children, off the bridge over Obion River, Tenn., on the 2d, resulting (in the drowning of the four children. The State Savings Bank of Indianap olis has petitioned and obtained authority from the Auditor of State to surrender its charter and go into liquidation. The assets are sufficient to cover all liabilities. Twenfive per cent. will be paid to depositors at once, and the balance within six months. The Rollinsford Savings Bank, at Salmon Falls, N. H., has suspended, with $750,000 of deposits. The assets are said to be amply sufficient to pay all claims, if time can be had to realize their value. The banking-house of I. N. Thomas, at Des Moines, Iowa, closed on the 3d. Depositors are promised to be paid in full. Virginia experienced an earthquake shock on the 2d. There was a fraternal gathering of Mexicans and Americans at a ball given by the Mexican officers at Matamoras, Mexico, on New Year's night. A large number of officers of both armies were present, and the most cordial feeling was exhibited. Steam-boiler explosions in the United States during 1877 caused directly the death of 131 persons and the maiming of 123 others. At Montpelier, Blackford County, Ind., on the 4th, J. J. McGrew, a merchant, shot and killed Kitter Kreutzner, a farmer. The latter was known as a dangerous character, and the shooting was the result of a threatened attack upon McGrew by Kreutzner. At Wheeling, West Va., on the 3d, Henry Daub, a well known citizen, once wealthy, shot himself on his first wife's grave, after a quarrel with his second wife, in which it is said she turned him out of the house. A number of Fenian prisoners who were sentenced to life-long penal servitude in 1866 have been released on ticket-ofleave. Among these are Color Sergeant McCarthy, Corporal Chambers and Private O'Brien. The Panama Star and Heraid has further particulars regarding the loss of the steamer Ataeama, from Valparaiso to Callao, which went to pieces on a rock near the Chilian coast on the night of Nov. 30. Out of 124 persons on board, only 30 were saved. The old established banking-house of Peddicord and Burrows, Decatur, Ill., suspended on the 5th. The Pottsville (Pa.) Bank suspended on the 7th. This is the fifth banking-house that has suspended there within 18 months. The New Orleans Clearing-house Association have passed a resolution protesting against the passage of the Bland Silver bill.