6875. American National Bank (Boston, MA)

Bank Information

Episode Type
Suspension β†’ Closure
Bank Type
national
Bank ID
5840
Charter Number
5840
Start Date
November 27, 1905
Location
Boston, Massachusetts (42.358, -71.060)

Metadata

Model
gpt-5-mini
Short Digest
bacf4eb4be807309

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1905-11-27
Date receivership terminated
1911-11-30
OCC cause of failure
Losses
Share of assets assessed as good
43.3%
Share of assets assessed as doubtful
31.4%
Share of assets assessed as worthless
25.4%

Description

Contemporary newspapers report that the American National Bank of Boston was closed by order of its directors on Nov. 27, 1905, and a national bank examiner (W. E. Neal) was appointed receiver. The closing followed failed efforts to have the bank liquidated by another institution and appears driven by adverse bank-specific exposures (heavy involvement with failed railway promoters Burnett/Cummings and dissatisfaction with management). Some accounts note withdrawals exhausted reserves, but no discrete run triggered by misinformation is described.

Events (4)

1. May 29, 1901 Chartered
Source
historical_nic
2. November 27, 1905 Receivership
Source
historical_nic
3. November 27, 1905 Receivership
Newspaper Excerpt
National Bank Examiner W. E. Neal has been appointed receiver.
Source
newspapers
4. November 27, 1905 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Directors closed bank after failed liquidation efforts; bank was heavily involved with the failed promoters Burnett, Cummings & Co. and management was criticized.
Newspaper Excerpt
by order of its directors the American National Bank of Boston has closed its doors.
Source
newspapers

Newspaper Articles (16)

Article from Santa Fe New Mexican, November 27, 1905

Click image to open full size in new tab

Article Text

BOSTON NATIONAL BANK IS FORCED TO SUSPEND. Washington, D. C., Nov. 27.-The comptroller of the currency today received a telegram to the effect, that by the order of its directors, the Amèrican National Bank of Boston, has closed its doors. It is said that the bank has not been in good condition for some time. The bank had a capital of $200,000 and individual deposit of $256,881.


Article from The Barre Daily Times, November 27, 1905

Click image to open full size in new tab

Article Text

BOSTON BANK CLOSED BY THE DIRECTORS After Fruitless Efforts to Have Bank Liquidated by Another Corporation-Examiner W. E. Neal Is Receiver. Washington, D. C., Nov. 27.-The American National Bank of Boston has been closed by order of the directors, after fruitless efforts to have the bank liquidated by another corporation. Examiner W. E. Neal has been appointed receiver.


Article from Evening Star, November 27, 1905

Click image to open full size in new tab

Article Text

BY ORDER OF DIRECTORS. American National Bank of Boston Closes Its Doors. The controller of the currency today received a telegram to the effect that by order of its directors the American National Bank of Boston has closed its doors. It is said that the bank has not been in good condition for some time, and efforts have been made to liquidate the bank, but apparently without success. It is not expected that any of the creditors of the bank will lose anything by the failure. National Bank Examiner W. E. Neal has been appointed receiver. The following is a statement of the resources and liabilities of the bank at the close of business, November 9, 1905, the date of the last report made to the controller: Resources-Loans and discounts, $386,054; United States bonds, $270 000; due from banks and bankers, $56,034; checks and other cash items, $32,714; redemption fund, $10,000; total, $754,803. Liabilities-Capital stock, $200,000; surplus and undivided profits, $24,548; circulating notes, $200,000; due to banks and bankers, $8,373; individual deposits, $256,881; United States deposits, $45,000; bills payable, $20,000; total, $754,803. BOSTON, November 27.-The American National Bank, which failed to open for business today, is not one of the larger financial Institutions of the city, its capital being $200,000. It was not a member of the Boston clearing house. The bank was incorporated in 1900. The officers are: President, H. J. Patterson; vice president, J. Middleby, jr.; cashier, H. A. Libby. It is understood the bank was heavily interested in transactions of Bunnett, Cummings & Company, railway promoters who failed last spring. NEW YORK, November 27.-According to a recent statement the American National Bank of Boston owed depositors $267,520. The bank was established in 1901.


Article from The Daily Ardmoreite, November 27, 1905

Click image to open full size in new tab

Article Text

Another National Bank Closed. Boston, Nov. 27.-The American Na. tional Bank failed to open today. A national bank examiner was appoint. ed receiver. Individual deposits are a quarter of a million, United States deposits $45,000. It is understood the bank was heavily interested in transactions of Burnett, Cummings & Co, railway promoters, who failed last spring.


Article from The Daily Ardmoreite, November 27, 1905

Click image to open full size in new tab

Article Text

Bank Receiver Appointed. Washington, Nov. 27.-The comptroller of the currency has appointed W. E. Neal, national bank examiner, as receiver for the American National Bank of Boston, which was closed Saturday by its directors. This bank was established in 1901.


Article from Evening Journal, November 27, 1905

Click image to open full size in new tab

Article Text

Boston Bank Closed. By Publishers' Press. Washington, Nov. 27.-The American National Bank of Boston, Mass., has been ordered closed by the directors, after fruitless efforts to have the bank liquidated by another banking corporaton. National Bank Examiner W. E Neal has been appointed receiver.


Article from The Spokane Press, November 27, 1905

Click image to open full size in new tab

Article Text

BOSTON BANK IS CLOSED (Scripps News Association.) WASHINGTON, D. C., Nov. 27.The American National bank of Boston was closed by order of the directors after fruitless attempts at liquidation by another bank. A receiver was appointed. Its capital is $200,000.


Article from Deseret Evening News, November 27, 1905

Click image to open full size in new tab

Article Text

AM. NAT'L. BANK OF BOSTON. Directors Have Ordered that its Doors Be Closed. Washington, Nov. 27.-The comptroller of the currency today received a telegram to the effect that by order of its directors the American National bank of Boston has closed its doors. It is said that the bank has not been in good condition for some time and efforts have been made to liquidate but apparently without success. It is not expected that any of the creditors will lose anything by the failure. National Bank Examiner W. E. Neal has been appointed receiver. The following is a statement of the resources and liabilities of the bank at the close of business Nov. 9, 1905, the date of the last report made to the comptroller: "Resources-loans and discounts, $386,054: United States bonds, $270,000: due from banks and bankers, $56,034: checks and other cash items, $32,714: redemption fund, $10,000: total, $754,803. "Liabilities-capital stock, $200,000; surplus and undivided profits, $24,548: circulating notes, $200,000; due to banks and bankers. $8,373: individual deposits, $256,881. Total, $754,803. NOT A LARGE CONCERN. Boston, Nov. 27.-The American National bank, which failed to open for business today, is not one of the large financial institutions of the city, its capital being $200,000. It was not a member of the Boston clearing house. The bank was incorporated in 1900. The officers are: President, H. G. Patterson: vice president, J. Middleby, Jr; cashier, H. A. Libby. It is understood the bank was heavily interested in transactions of Burnett, Cummings & Co., railway promoters, who failed last spring.


Article from The Topeka State Journal, November 27, 1905

Click image to open full size in new tab

Article Text

BOSTON BANK CLOSES. American National Has Been Shaky for Some Time. 788 Washington, Nov. 27.-The comptroller of the currency today received a telegram to the effect that by order of its directors the American National bank of Boston has closed its doors. It is said that the bank has not been in good condition for some time and efforts have been made to liquidate the bank, but apparently without success. It is not expected that any of the creditors of the bank will lose anything by the failure. National Bank Examiner W. E. Neal has been appointed receiver. The following is a statement of the resources and liabilities of the bank at the close of business November 9, 1905, the date of the last report made to the comptroller: RESOURCES. and $386 054


Article from The Montgomery Advertiser, November 28, 1905

Click image to open full size in new tab

Article Text

Liabilities: Capital stock $200,000. Surplus and undivided-profits $24,548. Circulating notes $200,000. Due to Banks and Bankers $8,373. Individual deposits, $256,881. United States deposits $45,000. Bills payable $20,000. Total $754,802. STATEMENT IS ISSUED. David C. Montague Tells Why the Institution Was Closed. Boston, Nov. 27.-The American National bank. which failed to open for business today, is not one of the larger financial institutions of the city, its capital being $200,000. It was not a member of the Boston clearing house The bank was incorporated in 1900. The officers are: President, H. G. Patterson: Vice-President, J. Middleby, Jr.: Cashier, H. A. Libby. It is understood the bank was heavily Interested in transactions of Burnett, Cummins & Co.,, railway promoters who failed last spring. The following statement with reference to the closing of the bank was made today by David P. Montague, director and counsel for the bank: "The directors were dissatisfied with the executive management of the bank, which practically controlled It and he deemed it unwise further to continue business. Arrangements were practically completed for the liquidation of the bank but, at the last moment the negotiations fell through and on Saturday evening the directors voted to apply for a receiver and so notified the comptroller of the currency and the bank examiners took charge of the bank at 9 o'clock. Deposits were being withdrawn. the reserve was exhausted and there was nothing to do but close. It is expected that the depositors will be paid In full and that there will be a substantial dividend for the stockholders.


Article from The Montgomery Advertiser, November 28, 1905

Click image to open full size in new tab

Article Text

BOSTON BANK FAILS. American National In Closed By Order of Directors. Washington. Nov. 27.-The compttroller of the currency today received a telegram to the effect that by order of its directors the American National bank of Boston has closed its dors. It is said that the bank has not been in good condition for some time and efforts have been made to liquidate the bank, but apparently without success. It is not expected that any of the creditors of the bank will lose anything by the failure. National Bank Examiner W. E. Neal has been appointed receiver. The following is a statement of the resources and liabilities of the bank, at the close of business November 9, 1905, the date of the last report made to the comptroller: Resources: Loans and discounts $886.054. United States Bonds $270,000. Due from Banks and Bankers, $56,034. Checks and other cash items, $32,714. Redemption fund $10.000. Total. $754.803 Liabilities: Capital stock $200,000. Surplus and undivided profits $24,548. Circulating notes $200,000. Due to Banks and Bankers $8,373. Individual deposits, $256,881. United States deposits $45,000. Bills payable $20,000. Total $754,802.


Article from Los Angeles Herald, November 28, 1905

Click image to open full size in new tab

Article Text

BOSTON BANK CLOSED American National Suspends Business by Order of Its Directors By Associated Press. WASHINGTON, Nov. 27.-The comptroller of the currency today received a telegram to the effect that by order of its directors the American National bank of Boston has closed its doors. It is said that the bank has not been in good condition for some time and efforts have been made to liquidate but apparently without success. It is not expected that any of the creditors will lose anything by the failure. National Bank Examiner W. E. Neal was appointed receiver. The following is a statement of the resources and liabilities of the bank at the close of business, November 9, 1905, the date of the last report made to the comptroller: Resources-Loans and discounts $386,054, United States bonds $270,000, due from banks and bankers $56,034, checks and other cash items $32,714, redemption fund $10,000. Total $754,803. Liabilities-Capital stock $200,00c. surplus and undivided profits $24,548, circulating notes $200,000. due to banks and bankers $8,373, individual deposits $256,881, United States deposits $45,000, bills payable $20,000. Total $754,803.


Article from The Pacific Commercial Advertiser, November 28, 1905

Click image to open full size in new tab

Article Text

AFTERNOON REPORT. NEW YORK, November 27.-President McCurdy, of the Mutual Life Insurance Company, and his relatives have resigned their offices. BOSTON, November 27.-The National American Bank has suspended. VIENNA, November 27.-It is reported that Turkey has yielded to the fleet of the Powers. WASHINGTON, D. C., November 27.-The President has removed Assistant Treasurer Lieb of Philadelphia for violation of the civil service rules. SEBASTOPOL, November 27.-The Brest regiment has returned to allegiance to the government and reinforcements have arrived. The British Consul is chartering a vessel to remove the British subjects. ST. PETERSBURG, November 27.-A band of rowdies assaulted and injured Second Secretary Bliss of the American Embassy. The assault has no political significance.


Article from The Salt Lake Herald, November 28, 1905

Click image to open full size in new tab

Article Text

BOSTON BANK GOES UP American National Fails to Liquidate and Is Compelled to Close Its Doors Washington, Nov. 27.-The comptroller of the currency today received a telegram to the effect that by order of its directors, the American National bank of Boston has closed its doors. It is said that the bank has not been in good condition for some time, and efforts have been made to liquidate, but apparently without success. It is not expected that any of the creditors will lose anything by the failure. National Bank Examiner W. E. Neal has been appointed receiver. The following is a statement of the resources and liabilities of the bank at the close of business Nov. 9, 1905, the date of the last report made to the comptroller: Resources-Loans and discounts, $386,054; United States bonds, $270,000; due from banks and bankers, $56,034; checks and other cash items, $32,714; redemption fund, $10,000; total, $754,803. Liabilities-Capital stock, $200,000; surplus and undivided profits, $24,548; circulating notes, $200,000: due to banks and bankers, $8,373; individual deposits, $256,881; United States deposits. $45,000; bills payable, $20,000; total, $754,803. Boston, Nov. 27.-The American National bank, which failed to open for business today, is not one of the large financial institutions of the city, its capital' being $200,000. It was not a member of the Boston clearing house. The bank was incorporated in 1900. The officers are: President H. G. Patterson; vice president, J. Middleby, jr.; cashier. H. A. Libby. It is understood the bank was heavily interested in transactions of Burnett, Cummings & Co., railway promoters, who failed last spring.


Article from The Independent, November 30, 1905

Click image to open full size in new tab

Article Text

liberties promised by the manifesto. In view of the fact that no representative. of the French government called on the Venezuelan government November 14 for the second installment of the Plumley arbitration award, that being the date on which it was due, the Venezuelan government asked the American minister, Mr. Russell, to receive the installment and the money was delivered to the American minister. Much dissatisfaction had been expressed in France because the Installment had not been paid and coercion was threatened. Governor La Follette has set the politicians guessing. It is nearly time for the convening of congress, but instead of stating whether he is to remain governor of Wisconsin or fill the seat in the United States senate to which he was elected by the last legislature, he has remained obsolutely noncommittal on this subject. To add to the confusion of the politicians, he has called an extra session of the legislature for the same date set for the opening of congress. Two sentences for illegal voting were passed by the New York supreme court. Thomas Halle, who confessed that he voted illegally under the name of Thomas Hall, received an indeterminate sentence of not less than a year and ten months. The same sentence was meted out to Thomas D. Brennan, who pleaded guilty to voting On another man's name. Both men voted in the Third assembly district. The American National bank of Boston has closed its door. It is said that the bank has not been in good condition for some time and efforts have been made to liquidate the bank, but apparently without success. It is not expected that creditors of the bank will lose anything by the failure. National Bank Examiner W. E. Neal has been appointed receiver. Mrs. William McMilliams and her five children, ranging from three years to eighteen years of age, were found murdered at their farm home, six miles south of Independence, Ia. The husband and father, William M. McWilliams, is now under arrest at Independence, charged with the crime. Marshall Field, Jr., was shot through the abdomen .by the accidental discharge of an automatic revolver which he had been testing in his dressing room at his residence, 1919 Prairie avenue, Chicago. His recovery is doubtful. President Roosevelt removed from office William S. Lieb, assistant United States treasurer at Philadelphia, for "constant and persistent violation of the civil service law while in office." Hon. W. B. Haldeman of the Louisville Times has announced himself a candidate for the seat in the United states senate now held by Hon. J. C. S. Blackburn. himself and Every man owes it his family to master a trade or pro-


Article from Washington Standard, December 1, 1905

Click image to open full size in new tab

Article Text

THE American National Bank of Boston has suspended.