6876. Atlantic Bank (Boston, MA)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
state
Start Date
May 7, 1884
Location
Boston, Massachusetts (42.358, -71.060)

Metadata

Model
gpt-5-mini
Short Digest
8f6be49f8ed6da4a

Response Measures

None

Description

Articles do not describe a depositor run or an explicit suspension of payments. 1884 articles report that funds of the New York Marine Bank held at the Atlantic Bank were attached in litigation (May 6โ€“7, 1884). A 1932 article reports a stockholders' meeting to approve transfer of substantially all assets and assumption of deposits by First National Bank and winding up of Atlantic (May 1932), i.e., a takeover/closure. I classify the overall episode as suspension_closure because the bank is being closed/taken over (no run reported). OCR quirks corrected: 'Atlantic Nat's' interpreted as Atlantic National Bank in 1932.

Events (2)

1. May 7, 1884 Other
Newspaper Excerpt
As the Marine Bank has funds in the Atlantic Bank of this city, the Everett Bank has brought suit for $200,000 in the United States Circuit Court, and attached the funds in the Atlantic Bank.
Source
newspapers
2. May 9, 1932 Receivership
Newspaper Excerpt
special meeting of stockholders of National Bank has been called for 11 a.m., June 6, to act on transfer between Atlantic Bank and First National Bank for transfer of substantially all assets of Atlantic and assumption of its deposits; also vote on winding up affairs of Atlantic.
Source
newspapers

Newspaper Articles (3)

Article from Daily Los Angeles Herald, May 8, 1884

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Article Text

Marine Bank Funds Attached. BOSTON, May 7.-The Boston correspondent of the Marine Bank of New York, the suspension of which is announced, is the Everett National Bank, to which $125,000 is owed. As the Marine Bank has funds in the Atlantic Bank of this city, the Everett Bank has brought suit for $200,000 in the United States Circuit Court, and attached the funds in the Atlantic Bank.


Article from The Semi-Weekly Miner, May 10, 1884

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Article Text

The Marine Bank. BOSTON, May 6.-The Boston correspondent of the Marine bank of New York whose suspension is announced this afternoon,is the Everett National bank to which less than $125,000 is owed. As the Marine bank has funds in the Atlantic bank of this city the Everett has this afternoon brought suit for $200,000 in the United States circuit court and attached the funds in the Atlantic bank. NEW YORK, May 6.-The Tribune the of account its in failure of the Marine bank will say to-morrow: The bank opened its doors at the usual hour and several deposits were received. About 11 o'clock the directors held their regular weekly meeting and transacted routine business, such as discounting notes, etc. Nothing was mentioned at the meeting by any officer about the coming trouble or its financial complications. An adjournment was taken as soon as the matters that were before the direct rs were disposed of. Those who had been present went to their places of business except two or three directors, wbo attended theopening ceremonies at the new produce exchange building. Shortly before noon the cashier received word from President Fish to stop doing business and close the bank doors. The great iron shutters were hauled down. MONTREAL, Mav 6.-A very uneasy feeling prevails this afternoon owing to the failure of the New York Marine National bank. Grant & Ward, stock brokers, are also among the failures. Over the border these reverses are more keenly felt than here, owing to the prevailing stagnation of business through Canada.


Article from Brooklyn Eagle, May 9, 1932

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Article Text

Atlantic Nat's Bank Meeting Is Called Boston, May special meeting of stockholders of National Bank has be called for 11 a.m., June 6, to an between Atlantic Bank and First National Bank for transfer of substantitily all assets of Atlantic and asumption of its deposits acceptance liabilities by the First National. Stockholders wil lalso be asked to vote on winding up affairs of Atlantic.