Hampshire Savings Bank (Northampton, MA)

Episode Information

Episode UID
562408891183
Episode Type
Suspension โ†’ Closure
Bank Type
savings
Bank ID
56240889 hash
Start Date
July 18, 1898
Location
Northampton, Massachusetts (42.325, -72.641)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
fbe3990afd99e577

Response Measures

None

Description

Failure caused by large treasurer defalcations and receivers appointed; bank wound up and paid dividends.

Events (5)
1. July 18, 1898 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Large embezzlement/defalcation by Treasurer Lewis Warner discovered, rendering bank insolvent.
Newspaper Excerpt
The temporary receivers of the Hampshire Savings bank of Northampton have given out a statement to the effect that the defalcation of Treasurer Lewis Warner amounts to $400,000.
Source
newspapers
2. November 15, 1898 Other
Newspaper Excerpt
He ordered Assistant Attorney General Hammond to draw up a decree making the appointment of the receivers permanent and authorizing them to wind up the affairs of the bank.
Source
newspapers
3. November 15, 1898 Receivership
Newspaper Excerpt
The second report of R. W. Irwin and Benjamin E. Cook, Jr., receivers of the Hampshire Savings Bank of Northampton, was before Judge Knowlton in the supreme court today.
Source
newspapers
4. December 9, 1898 Other
Newspaper Excerpt
Receivers ... petitioning the court for permission to pay a 40 per cent. dividend before Christmas.
Source
newspapers
5. March 27, 1899 Other
Newspaper Excerpt
Receivers ... applied to Judge Hammond ... for leave to pay a dividend of 25 per cent. The receivers have about $400,000 in their hands.
Source
newspapers

Newspaper Articles (10)
1. July 19, 1898 The Daily Morning Journal and Courier New Haven, CT
Article from The Daily Morning Journal and Courier, July 19, 1898

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Article Text

Defalcation Amounts to $400,000. Springfield, Mass., July 18.-The temporary receivers of the Hampshire Savings bank of Northampton have given out a statement to the effect that the defalcation of Treasurer Lewis Warner amounts to $400,000. With the $240,000 which Bank Examiner Ewer estimates was taken from the Hampshire County National bank, Warner's peculations amount in the aggregate to $640,000. To cover his peculations Warner overestimated the amount of deposits and the number of depositors, and overvalued the securities held by the bank.

2. July 19, 1898 Kansas City Journal Kansas City, MO
Article from Kansas City Journal, July 19, 1898

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Article Text

He Stole $640,000. SPRINGFIED, MASS.. July 18.-The temporary receivers of the Hampshire Savings bank of Northampton have given out a statement to the effect that the defalcation of Treasurer Lewis Warner amounts to $400,000. With the $240,000 which Bank Examiner Ewer estimates were taken from the Hampshire County National bank, Warner's peculations amount in the aggregate to $640,000.

3. July 19, 1898 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, July 19, 1898

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Article Text

WHAT A SMART MAN DID. Springfield, Mass., July 18.-The temporary receivers of the Hampshire Savings bank of Northampton have given out a statement to the effect that the defalcation of treasuer Lewis Warner amounts to $400,000. With the $240,000 which Bank Commissioner Ewer esti-

4. July 19, 1898 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, July 19, 1898

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Article Text

DEFAULTED $400,000. Savings Bank Treasurer's Peculations Will Reach $640,000. Springfield, Mass., July 19.-The temporary receivers of the Hampshire Savings bank of Northamnton have given oui, statement to the effect that the defalcation of Treasurer Lewis Warner amounts to $400,000. With the $240,000 which Bank Examiner Ewer estimates were taken from the Hampshire County National bank, Warner's peculations amount in the aggregate to $640.000. To cover his peculations Warner overestimated the amount of deposits and the number of depositors, and over-valued the securities held by the bank.

5. July 20, 1898 The Copper Country Evening News Calumet, MI
Article from The Copper Country Evening News, July 20, 1898

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Article Text

Warner Is a Colossal Thief. Springfield, Mass., July 20.-The temporary receivers of the Hampshire Savings bank of Northampton have given a statement to the effect that the defalcations of Treasurer Lewis Warner amounts to $400,000. With the $240,000 which Bank Examiner Ewer estimates were taken from the Hampshire County National bank, Warner's peculations amount in the aggregate to $840,000.

6. July 21, 1898 River Falls Journal River Falls, WI
Article from River Falls Journal, July 21, 1898

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Article Text

A Heavy Defalcation. Springfield, Mass. July 19.-The temporary receivers of the Hampshire savings bank of Northampton have given out a statement to the effect that the defalcation of Treasurer Lewis Warner amounts to $400,000. With the $240,000 which Bank Examiner Ewer estimates were taken from the Hampshire County national bank, Warner's peculations amount in the aggregate to $640,000.

7. November 16, 1898 The Worcester Spy Worcester, MA
Article from The Worcester Spy, November 16, 1898

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Article Text

HAMPSHIRE SAVINGS BANK. The Second Report of the Receivers Before Judge Knowlton. Boston, Nov. 15.-The second report of R. W. Irwin and Benjamin E. Cook, Jr., receivers of the Hampshire Savings Bank of Northampton, was before Judge Knowlton in the supreme court today. The issues involved the allowance of the report, the perpetuation in office of the receivers and the winding up of the affairs of the defunct institution. The first matter was sought by the receivers and the other two by the bank examiners. At the hearing it became known that a number of the depositors desire to curtail expenses by reducing the number of the receivers to one and a committee was appointed today to ask the court to comply with the wishes of those depositors, but Judge Knowlton declined to reduce the number of receivers. He ordered Assistant Attorney General Hammond to draw up a decree making the appointment of the receivers permanent and authorizing them to wind up the affairs of the bank. The report of the receivers shows that the report of Lewis Warner, treasurer of the bank, showed that the loans of the bank aggregated $1,063,000, when as a matter of fact they amounted to only $826,345, making a deficit of about $200,000. The liabilities are $1,548,051.01 and the gross assets foot up $1,600,000. The receivers find that after verification of the depositors' pass books the amount due to the depositors is $1,547,717, and not $1,413,317 as represented by Warner. The discrepancy in this instance is $134,561.

8. November 18, 1898 Vermont Phล“nix Brattleboro, Bellows Falls, Ludlow, VT
Article from Vermont Phล“nix, November 18, 1898

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Article Text

Permanent Receivers of the Hampshire Savings Bank Appointed. The second report of the receivers of the Hampshire savings bank of Northampton, as laid before the supreme court, shows a total loss to the bank through Lewis Warner's manipulations of $533,216, aside from $100,000 in securities and certificates in dispute between the savings and national banks. The receivers report a deficiency of $209,655 in the real estate loans, a discrepancy of $134,561 in the deposits, and a shrinkage of $189,000 in the value of securities. The court overrules the opposition of the depositors to two receivers, orders their appointment as permanent receivers and authorizes the winding up of the affairs of the institution.

9. December 10, 1898 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, December 10, 1898

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Article Text

A Pleasant Christmas Present. Springfield, Mass., Dec. 9.-Receivers Irwin and Cook of the Hampshire Savings Bank of Northampton, sprung a surprise on the depositors of the defunct institution, today. by petitioning the court for permission to pay a 40 per cent. dividend before Christmas.

10. March 27, 1899 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, March 27, 1899

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Article Text

Receivers R. W. Irwin and B. E. Cook of the Hampshire savings bank of Northampton, Mass., applied to Judge Hammond in the supreme court. Saturday, for leave to pay a dividend of 25 per cent. The court issued an order of notice returnable on April 17. The receivers have about $400,000 in their hands. They expect to pay another dividend of 10 per cent. some time in the near future. This is the bank which was wrecked by Lewis Warner.