6943. Globe National Bank (Boston, MA)

View Charter #936 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
936
Charter Number
936
Start Date
March 13, 1896
Location
Boston, Massachusetts (42.358, -71.060)

Metadata

Model
gpt-5-mini
Short Digest
71a5edaf2f91f032

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1899-12-21
Date receivership terminated
1903-02-25
OCC cause of failure
Fraud
Share of assets assessed as good
38.1%
Share of assets assessed as doubtful
46.1%
Share of assets assessed as worthless
15.8%

Description

Newspaper articles (March 1896) report creditors petitioned and a court appointed receivers for the Globe National Bank of Boston as insolvent; receivers took possession and reorganization was to proceed. No article describes a depositor run prior to suspension—court receivership indicates closure.

Events (4)
1. March 25, 1865 Chartered
Source
historical_nic
2. March 13, 1896 Suspension
Cause
Government Action
Cause Details
Creditors petitioned the court alleging insolvency; judge appointed receivers to protect interests.
Newspaper Excerpt
the Globe National Bank of Boston, creditors, for $10,000, asking for a receiver on the ground that the company is insolvent ... Judge Knowles appointed John F. Forbis ... and Captain Thomas Couch, receivers.
Source
newspapers
3. March 20, 1896 Receivership
Newspaper Excerpt
Receivers Confirmed. The order made by Judge Knowles ... appointing John F. Forbis and Thomas Couch receivers for the Butte & Boston was on Tuesday confirmed in open court in Helena. ... Charles R. Leonard appeared for the Globe National bank of Boston ... The orders in both cases were similar. (confirmation of receivers for Globe National Bank of Boston).
Source
newspapers
4. December 21, 1899 Receivership
Source
historical_nic

Newspaper Articles (3)
1. March 13, 1896 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, March 13, 1896

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Article Text

the Globe National Bank of Boston, creditars, for $10,000, asking for & recelver on the ground that the company is insolvent and It was necessary to protect all interests. Judge Knowles appointed John F. Forbis, of Butte, and Captain Thomas Couch, receivers. Fortis 1a the Butte attorney of the company and Couch is manager, BR well as manager of the Beston and Montana. The receivers will take possession of the property at once, and reorganization will be proceeded with.

2. March 13, 1896 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, March 13, 1896

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Article Text

the Globe National Bank of Boston, creditars, for $10,000, naking for & receiver on the ground that the company is insolvent and It was necessary to protect all interests. Judge Knowles appointed John F. Forbis, of Butte, and Captain Thomas Couch, receivers. Fortis 18 the Butte attorney of the company and Couch is manager, BB well as manager of the Beston and Montana. The receivers will take possession of the property at once, and reorganization will be proceeded with.

3. March 20, 1896 The Anaconda Standard Anaconda, MT
Article from The Anaconda Standard, March 20, 1896

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Article Text

Receivers Confirmed. The order made by Judge Knowles in chambers at Missoula last week appointing John F. Forbis and Thomas Couch receivers for the Butte & Boston was on Tuesday confirmed in open court in Helena. The receivers filed each a bond of $25,000 with James H. Lynch and Hugh I. Wilson as sureties. The bonds were approved at formal proceeding in Helena. Charles R. Leonard appeared for the Globe National bank of Boston and Moses Weinmann of New York for the Massachusetts Loan & Trust company. The orders in both cases were similar.