7050. Cambridge Bank (Cambridge, MA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
February 1, 1913
Location
Cambridge, Massachusetts (42.376, -71.118)

Metadata

Model
gpt-5-mini
Short Digest
defcd66cf77bce77

Response Measures

None

Description

Articles (Feb–Apr 1913) refer to a receiver (Mr. Bates) for the Cambridge bank and to thefts/misuse of funds by confidence men (Keliher, Coleman). This indicates the bank was placed in receivership following embezzlement. No article describes a depositor run or a reopening; therefore classified as suspension leading to closure/receivership due to bank-specific adverse information (thefts). OCR errors corrected where obvious (e.g., 'missuse' -> misuse).

Events (2)

1. February 1, 1913 Receivership
Newspaper Excerpt
Mr. Bates, the receiver of the bank, says that he is informed by the paper that published the alleged confession ... Mr. Bates would neither confirm nor deny the statements made in the article, further than to say that Mr. Keliher had made to him some weeks ago a complete statement of all the facts in the case, so far as he had knowledge of them. United States District Attorney French said, today, that if any statement made by Keliher regarding the missuse of funds stolen from the Cambridge bank was substantiated he would, of course, bring any criminal action required. (Daily Kennebec Journal, 1913-02-01).
Source
newspapers
2. April 29, 1913 Other
Newspaper Excerpt
NOW SUING DIRECTORS Receiver Seeking to Recover Money for a Cambridge Bank GEO. W. COLEMAN IMPORTANT WITNESS Young Man Who Is Serving Sentence In Jail in Greenfield Brought to Boston to Tell About the Bank Which He Wrecked Through Thefts. (The Brattleboro Daily Reformer, 1913-04-29).
Source
newspapers

Newspaper Articles (2)

Article from Daily Kennebec Journal, February 1, 1913

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Article Text

to Keliher, and published here. today. In the published story the confidence man is quoted as going into the details of his operations much as they were revealed in court. Keliher is in the Charlestown state prison, where he is serving a sentence of from 15 to 18 years. Mr. Bates' statement follows: "In reference to an alleged confession by William J. Keliher, published in one of the morning papers, Mr. Bates, the receiver of the bank, says that he is informed by the paper that published the alleged confession that it obtained its information directly from Mr. Keliher. Mr. Bates would neither confirm nor deny the statements made in the article, further than to say that Mr. Keliher had made to him some weeks ago a complete statement of all the facts in the case, so far as he had knowledge of them." United States District Attorney French said, today, that if any statement made by Keliher regarding the missuse of funds stolen from the Cambridge bank was substantiated he would, of course, bring any criminal action required. He added, however, that he already had in his possession two alleged confessions" of the confidence man and he would need to examine any further "confession with a microscope" before he was convinced of its value to the state. He had known for sometime, he said, of the statement obtained by Mr. Bates.


Article from The Brattleboro Daily Reformer, April 29, 1913

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Article Text

NOW SUING DIRECTORS Receiver Seeking to Recover Money for a Cambridge Bank GEO. W. COLEMAN IMPORTANT WITNESS Young Man Who Is Serving Sentence In Jail in Greenfield Brought to Boston to Tell About the Bank Which He Wrecked Through Thefts. BOSTON, April 29.-George W. Coleman, who is serving a sentence in the jail in Greenfield for his part in