6951. Hancock National Bank (Boston, MA)

View Charter #1442 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
1442
Charter Number
1442
Start Date
May 21, 1897
Location
Boston, Massachusetts (42.358, -71.060)

Metadata

Model
gpt-5-mini
Short Digest
08f5bc6a603add76

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1902-04-04
OCC cause of failure
Losses
Share of assets assessed as good
0.0%
Share of assets assessed as doubtful
53.8%
Share of assets assessed as worthless
46.1%

Description

Contemporary articles (May 21, 1897) report the Hancock National Bank of Boston 'goes into liquidation' with the Mercantile Trust Company taking charge, i.e. a suspension/closing with a receiver/assignee. A later 1904 article (Mar 12, 1904) refers to a receivership and continuing receiver control of Hancock National's affairs; this could be follow-up reporting on settlement of the earlier liquidation or a separate receivership episode. I classify the primary sequence as a suspension that results in permanent closure/receivership (suspension_closure).

Events (5)
1. July 15, 1865 Chartered
Source
historical_nic
2. May 20, 1897 Voluntary Liquidation
Source
historical_nic
3. May 21, 1897 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank went into liquidation; Mercantile Trust Company took charge of its affairs (failure/liquidation of the bank).
Newspaper Excerpt
BOSTON, Mass., May 21. -The Hancock national bank goes into liquidation, to-day, and the Mercantile trust company takes charge of its affairs.
Source
newspapers
4. April 4, 1902 Receivership
Source
historical_nic
5. March 12, 1904 Receivership
Newspaper Excerpt
At a special meeting today of the stockholders of the Hancock National bank of this city it was voted to continue the receivership control of the affairs of the institution. Denman Blanchard ... was originally appointed receiver by the comptroller of the currency when the government took charge of the bank, was empowered by the stockholders to settle the affairs of the institution. Receiver Blanchard said that he would soon issue a statement to all concerned.
Source
newspapers

Newspaper Articles (3)
1. May 21, 1897 Las Vegas Daily Optic Las Vegas, NM
Article from Las Vegas Daily Optic, May 21, 1897

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Article Text

STILL FAILING. Prosperity Seems to Have no Effect on HardPressed Banks. NEW YORK, N. Y., May, 21. The Third national bank of this city announced, this morning, that it will go into liquidation. It has $12,000.00 of deposits and claims solitiney. It will turn over its affairs Horow City bank, which will pay deposi our The City bank has $43,000,000 in assets. LAWRENCE, N. H., May 21.-The Lake village bank follows the Belknap savings bank and suspends. WASHINGTON, D. C., May 21.The failure of the State national bank of Logansport, Indiana, yesterday, was due to the management's loaning heavily to its president. BOSTON, Mass., May 21. -The Han. cock national bank goes into líquidation, to-day, and the Mercantile trust company takes charge of its affairs. WASHINGTON, D. C.,May 21.-Act. ing comptroller of the treasury, Coffin, was notified, this morning, that the First national bank of Orleans, Nebraska, had failed.

2. May 21, 1897 El Paso Daily Herald El Paso, TX
Article from El Paso Daily Herald, May 21, 1897

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Article Text

Bank Failures. NEW YORK, May 21.-The Third National bank of this city announces this morning that it goes into liquidation. It has twelve million dollars on deposit. and claims solvency. It will turn over to the City bank which will pay the depositors. The City bank has forty-three million in assets. LAWRENCE, N. H., May 21.- The Lake Village bank follows the Belknap Savings bank and has suspended. WASHINGTON, May 21.-The failure of the State National bank of Logansport, Indiana, was due to bad management and heavy loaning to the president. BOSTON, May 21.-The Hancock National bank goes into liquidation. The Mercantile Trust company takes charge of its affairs. WASHINGTON, May 21.-Acting Comptroller of the Treasury Coffin was notified this morning that the First National bank of Orleans, Neb., had failed.

3. March 12, 1904 The Providence News Providence, RI
Article from The Providence News, March 12, 1904

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Article Text

BOSTON BANK EMBARRASSED Affairs of Hancock National Will Be Settled by Receiver. Boston, March 12.-At a special meeting today of the stockholders of the Hancock National bank of this city it was voted to continue the receivership control of the affairs of the institution. Denman Blanchard, a banker of this city, who was originally appointed receiver by the comptroller of the currency when the government took charge of the bank, was empowered by the stockholders to settle the affairs of the institution. Receiver Blanchard said that he would soon issue a statement to all concerned.