City Savings Bank - Nashua, NH

Episode Information

Episode UID: 5924084390890
Episode Type: Suspension → Reopening
Bank Type: savings
Bank ID: 592408439 hash
Start Date: February 2, 1874
Location: Nashua, New Hampshire (42.765, -71.468)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 539762d606426feb

Response Measures

None

Description

Bank is limiting payments to 10% due to illiquid investments; no article confirms reopening.

Events (1)

1. February 2, 1874 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Assets largely invested in real estate, local mortgages and stocks that cannot be quickly realized, forcing payment limitation.
Newspaper Excerpt: The City Savings Bank will to-morrow commence paying depositors ten per cent without notice.
Source: newspapers

Newspaper Articles (1)

1. February 2, 1874 The New York Herald New York, NY

Article from The New York Herald, February 2, 1874

Click image to open full size in new tab

Article Text

THE NASHUA CITY SAVINGS BANK. Nashua, N. H., Feb. 1, 1874. The City Savings Bank will to-morrow commence paying depositors ten per cent without notice. This action is rendered necessary on account of the funds being invested largely in real estate, mortgages in this city and vicinity and in stocks, on which it is impossible to realize value at once. Notices for withdrawals have decreased since January 1, and it is the opinion of the officers that the bank can pay all its liabilities if not compelled to sacrifice its securities.