7074. Lancaster National Bank (Clinton, MA)

View Charter #583 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
583
Charter Number
583
Start Date
January 1, 1886
Location
Clinton, Massachusetts (42.417, -71.683)

Metadata

Model
gpt-5-mini
Short Digest
78cc3dc8e824d803

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1886-01-20
Date receivership terminated
1891-09-14
OCC cause of failure
Fraud
Share of assets assessed as good
49.7%
Share of assets assessed as doubtful
47.6%
Share of assets assessed as worthless
2.8%

Description

The articles report that the Lancaster National Bank (Clinton, MA) closed its doors and posted a suspension notice on Jan 1–2, 1886 after its president W. H. McNeil disappeared and was accused of large embezzlements. The Comptroller ordered Examiner Gatchell to take charge and a receiver (John W. Corcoran) was appointed Jan 20, 1886. There is no description of a depositor run; the closure led to receivership/insolvency and eventual winding up. OCR typos in some articles (McNeal/McNeil/Nell) refer to the same individual, William H. McNeil; I use the common spelling McNeil.

Events (5)
1. November 22, 1864 Chartered
Source
historical_nic
2. January 1, 1886 Suspension
Cause
Bank Specific Adverse Info
Cause Details
President W. H. McNeil disappeared and is accused of embezzling bank funds and removing cash and securities from the vaults, prompting directors to close the bank and post a suspension notice.
Newspaper Excerpt
The Lancaster National Bank ... closed its doors yesterday and refused to transact any business whatever, pending an investigation.
Source
newspapers
3. January 20, 1886 Receivership
Source
historical_nic
4. January 20, 1886 Receivership
Newspaper Excerpt
The controller of the currency to-day appointed John W. Corcoran receiver of the Lancaster National bank of Clinton, Mass., insolvent.
Source
newspapers
5. March 16, 1886 Other
Newspaper Excerpt
John W. Corcoran, receiver of the Lancaster National Bank, of Clinton, proving that $150,747.75 were due that institution ... Cash stolen from the bank vault, $7000; cash embezzled, $42,000; ... notes on which McNeil is endorser, $44,400; total losses around $150,747.75 .
Source
newspapers

Newspaper Articles (20)
1. January 2, 1886 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, January 2, 1886

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A DEFAULTING BANK PRESIDENT. W. H. McNeal, of the Lancaster (Mass.) National Bank, Starts for the North. CLINTON, Mass., Jan. 1.-The Lancaster National Bank, of this place, closed its doors last night, after an examination of the books by the directors. President W. H. McNeal is missing, and has not been heard from since last Tuesday. He is charged with having used the bank's money for speculative enterprises in which he was interested, and which did not furnish sufficient security. The directors seemed depressed, and are exceedingly reticent. Cashier Forester expresses himself very plainly, and his condemnation of President McNeal's financiering is unmistakable. He says the latter, since his elevation to the presidency of the bank, last January, has invested the bank's funds according to his own inclinations. His operations have, at times, been far from straight. At the present time the bank has a surplus of $3,500. The bank holds the paper of the Low Cattle Company, of Wyoming, to the amount of $60,000. So far as can be learned, the deposits amount to over $200,000, and according to statements from a quarter which is supposed to be authentic, the president has appropriated that amount. The belief prevails that an examination of the books of the bank will develop new and startling features. It is said that a resident of Clinton saw him in Nashua N. H., last week. The real condition of the bank's standing will not be known for a few days, and probably not then. The missing president of the bank was at the depot at Fitchburg about 7:45 P. M. on Tuesday, and probably took the train to the north. One of his acquaintances at Fitchburg twice tried to speak to him, but McNeal took no notice of him. The Lowell City Institution for Savings has $20,000 deposited in the Lancaster Bank, which has been regarded with distrust for some months. The City Institution has 11,000 depositors, and a surplus of $400,000. Charles Glidden, treasurer of the Erie Telephone Company, is one of the Lowell depositors in the Clinton bank. One of the directors of the bank is authority for the statement that McNea! was at the bank on Tuesday night, when he took from the vault $6,000 in bank notes, $1,000 in gold, a large amount of stock in the Rutland and Vermont Marble Company, supposed to be [about $30,000, and a lot of paper signed by himself, and held by the bank-it is thought about $30,000 worth. There was in the vault considerable money belonging to the defunct Lancaster Savings Bank, of which McNeal was one of the receivers, a good portion of which is said to be missing. Bank Examiner Curry stated to-day that McNeal is one of the three receivers of the Lancaster Savings Bank, which was put under injunetion ten years ago, and $72,000 belonging to the latter institution was deposited in the National Bank. Mr. Curry says that both he and Commissioner Getchel have had some suspicions that McNeal was speculating. A petition for a 71 per cent. dividend was presented to the Supreme Court last Tuesday by the receivers of the savings bank, and the final accounts and books of the receivers have been turned over for examination.

2. January 2, 1886 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, January 2, 1886

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A Missing Bank President. FITCHBURG, Mass., Jan. 1 - W. H. McNeil, the missing president of the Lancaster bank of Clinton, was at the depot here about 7.45 p. m. Tuesday and probably took the Cheshire train to the north. One of his acquaintances here twice tried to speak to him but McNeil took no notice of him. WORCESTER, Mass., Jan. 1.-One of the Directors of the Lancaster National Bank at Clinton is authority for the statement that McNeil, the missing president, was at the bank Tuesday night, when he took from the vaults $6000 in bauk notes, $1000 in gold, a large amount of stock in the Rutland, Vt., Marble Co., supposed to be about $30,000, and a lot of paper signed by himself and held by the bank, it is thought about $30,000 worth. There was in the vault considerable money belonging to the defunct Lancaster Savings Bank, of which McNeil was one of the receivers, a good portion of which is said to be missing.

3. January 2, 1886 New-York Tribune New York, NY
Article from New-York Tribune, January 2, 1886

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A BANK PRESIDENT MISSING. WILLIAM H. McNEIL AN EMBEZZLER. GONE TO CANADA WITH $100,000-THE LANCASTER NATIONAL BANK SUSPENDS. BOSTON, Jan. 1 (Special).-The Lancaster National Bank, of Clinton, Mass., closed its doors yesterday and refused to transact any business whatever, pending an investigation. The president, William H. McNeil, it is reported, fled to Canada. The institution has been placed in the hands of Bank Examiner Gatehell. His investigation is not finished, but the indications are that McNeil is an embezzler to the amount of about $100,000. As matters now stand it seems probable that the entire sam will be a dead loss to depositors, as McNeil gave no bonds, nor did he oblige his cashier to give any, and be does not leave a large amount of available property. He made his home in Lancaster and had a house in Hyannis and a farm in New-Hampshire. But they are more or less mortgaged. The Lancaster Savings Bank. which failed ten years ago to-day, had $72,000 deposited in the National Bank, and it is believed that at least one-half of this amount was stolen by McNeil. The disappearing president took with him also about $10,000 of securitieson which he had placed his name and put in the bank. Suspicion has recently strongly attached to McNeil's course, and if he had remained at home a day longer he would have been arrested. He left Lowell on Tuesday and went to Clinton and called at the bank and replenished his pocket with all the available assets that could be transferred from the safe, not neglecting to take a large amount of the securities which lay there, and on many of which his name figured, obtaining in this way, It is surmised, nearly one-balf the total deficit. Then entering a carriage he drove rapidly to Fitchburg. He had a companion with him, a stranger to people in Clinton, and whose connection with the affair remains an enigma. The two took the evening train for the North, where all trace of them was lost. Chief Wade, of the State detective force, is at work on the case. McNeil is not known to have lived fast and is believed to have lost money in speculations. His wife owns valuable real estate in Boston, but that is in her name and cannot be touched by her husband's creditors. One of McNeil's ventures was in the Low Cattle Company of Cheyenne. He was also interested in marble works at Rutland, Vt., and in the Hyaunis Land Company. He is about forty-eight years old, and has a wife and four children. The cashier of the bank says there are about $227,000 in deposits $20,000 surplus and $14,000 undivided profits. The bank holds promissory notes of the Low Cattle Company to the amount of $10,000, and notes indorsed by that concern for $20,000. These are supposed to be good. The Lancaster Bank was organized in 1836, with $200,000 capital, and became a National Bank in 1864. It was formerly at Lancaster, but was moved to Clinton in June, 1863, when it became the Lancaster National Bank. Last January when the directors held their meeting, marked exceptions were taken to the business methods of the institution. and H. C. Greely, a member of the Governor's Council, in plain and unmeasured terms spoke for those differing from the management relative to the course pursued. Cashier W. H. McNeil Halened to the seatning denunciation of his methods, but made no reply other than to say, with a peculiar smile. Gentlemen, we will now proceed to vote for directors," the result being that W. H. McNell, of Laneaster: Ira A. Lowe, of Wyoming; General W. R. Bachelder, of Lowell; C. L. Hosmer, of Newton: F.C. McNeil and William Russell. of Lancaster; Jerome Gardner, of Shirley. and Alfred Page, oi Ayer, were elected on the board. together with Elisha Brimhall and J.E. Howe. of Lancaster. Neither of the last two mentioned has ever qualified. Mr. Greely and D. B. Ingalls, recalcitrants, were dropped. W. H. McNeil was subsequently chosen president. Tue charter of the bank was extended in October. 1884, just before which Bank Examiner Needham made a special examination and pronounced It in first-class condition. On November 17 Bank Examiner Gatehell made an examination but was dissatisfied with some of the loans, and in his report to the Treasury Department at Washington he sent a more extended account of affairs than usual. It was ten years ago that the Laneaster Savings Bank suspended, W. H. McNeil being at that time its treasurer, although the causes leading to its suspension arose prior to his assuming that position. Mr. McNeil, Elisha Brimhall, of Lancaster, and Benjamin Snow, of Fitehbarg, were appolated receivers. The affairs of that bank have never been settled. FITCHBURG, Mass. Jan. 1.-W. H. McNeil, the missing president of the Laneaster Bank, of Clinton, was at the depot here about 7:45 p. in. on Tuesday, and probably took the Cheshire train to the North. One of his ac. quaintances here twice tried to speak to him, but McNeil took no notice of him. LOWELL Mass. Jan. 1.- The City Institution for Savings has $20,000 deposited in the Lancaster Bank, which has been regarded with distrust for some months. McNell'aname was refused by one bank here more than a year ago. The city Institution has 11,000 depositors and a surplus of $400,000. Charles J. Glidden, Treasurer of the Erle Telephone Company. is one of the small depositors in the Clinton Bank. There are but few others here.

4. January 2, 1886 Press and Daily Dakotaian Yankton, SD
Article from Press and Daily Dakotaian, January 2, 1886

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Bank Suspended. Clinton, Mass., Dec. 2-This morning Bank Examiner Gatcheli received orders from the comptroller of the currency at Washington to take full charge of the Lanchester national bank and examine into its affairs, that bank having suspended.

5. January 2, 1886 Fort Worth Daily Gazette Fort Worth, TX
Article from Fort Worth Daily Gazette, January 2, 1886

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A Crooked Bank President. CLINTON, Mass., Jan. 1.-The Lancaster National bank of this place closed Its doors last night, after an examination of the books by the directors. President W. H. Neil is missing and has not been heard from since Tuesday, when he was in Lowell, whence he started ostensibly for Boston. He is charged with having used the bank money for speculative enterprises, in which he was interested. Cashier Forrester expresses himself plainly, and his condemnation of President Neil's financiering is vehement. He says the latter, since his clevation to the presidency of the bank last January, has invested bank funds according to his own inclinations, and his operations have at times been far from straight. The bank holds the paper of the Low Cattle company of Wyoming to the amount of $80,000. The deposits amount to over $200,000, and, according to statements from a quarter supposed to be authentic, President Neil has appropriated this amount. BE ROBHED THE BANK. WORCESTER, MASS., Jan. 1.-One of the directors of the Lancaster National bank at Clinton is authority for the statement that Nell, the missing president, was at the bank Tuesday night, when he took from the vault $6000 in banknotes, $1000 in a amount gold, large of stock in the Rutland, Vt., Marble company, supposed to be about $80 000, and a lot of papersigned by himself and held by the bank, it is thought about $80,000 worth. There was in the vault considerable money belonging to the defunct Lancaster Savings bank, of which Neil was one of the receivers, a good portion of which is said to be missing.

6. January 3, 1886 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, January 3, 1886

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Another Crooked Banker. CLINTON, Mass., January 1.-Lancaster National Bank closed its doors last night, after an examination of the books by the directors. President W. H. McNeil is missing, and has not been heard from since Tuesday, when he was in Lowell, whence he started ostensibly for Boston. He is charged with having used the bank's money for speculative purposes in which he was interested, and which do not furnish sufficient security. The directors, Messrs. Batehelder, Hosmer, Gardner, Russell and Page, together with Bank Examiner Mitchell, who came to Olinton to-day, have been hard at work on the books all day. The directors seem depressed and are exceedingly reticent, Cashier Farren Forester expresses himself very plainly and his condemnation of President McNeil's financiering is unmistakable. He says the latter, since his elevation to the presidency of the bank last January, has invested the bank's funds, according to his own inclinations. His operations have at times been far from straight. At the present the bank has a surplus of $3,500. The bank holds paper of the Low Cattle Company, of Wyoming, to the amount of $30,000. So far as can be learned the deposits amount to over $200,000, and according to statements from a quarter which is supposed to be authentic, President McNiel has appropriated this amount. The belief prevails that the examination of the books of the bank will develop new and startling features. McNeil has not been heard from since Tuesday last. It is said that a resident of Clinton saw him in Nebraska, N. H., last Wednesday. Nothing further regarding the real condition of the banks' finances will le known for a day or two, and possibly not then. One of the directors of the Lancaster National Bank, at Canton. is authority for the statement that McNeil, the missing president, was at the bank on Monday night, when he took from the vaults $600 in bank notes and $1,000 in gold, and a large amount of stock in the Ruthland (Vt.) Marble Company. supposed to be about $30,000 worth. There was in the vault considerable money belonging to the defunct Lancaster Savings Bank, of which McNiel was one the receivers, a good portion of which is said to be missing.

7. January 3, 1886 Savannah Morning News Savannah, GA
Article from Savannah Morning News, January 3, 1886

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LANCASTER'S BROKEN BANK. Nature of the Money and Papers Taken from the Safe by McNeil. CLINTON, Mass., Jan. 2.-Thismorning Bank Examiner Gatchell-received a telegramjtrom the Comptroller of the Currency at Washingtor, authorizing him to take charge of the Lancaster National Bank, and examine into its affairs. A notice that the bank had suspended was posted on the-door this morning. President McNeil's whereabouts is as yet unknown, but all indications. point to his being in Canada. M'NEIL'S LAST GRAB. CLINTON, MASS., Jan. 2.-The defaulting president of the Lancaster bank (McNeil) secured but few available assets from the institution just previous to his flight, the whole amount being $7,000 in cash. He took in addition $29,500 in bonds and notes of hand of various parties which he will not be able to realize upon. GENERAL MERCHANTS FAIL. HEARNE, TEX., Jan. 2.-MeGuire & Wilson, general merchants, made an assignment Thursday night to W. P. Yerguson, for the benefit of their creditors. The liabilities are about $19,000, and the assets $15,000.

8. January 3, 1886 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, January 3, 1886

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President McNeil's Defalcation. CLINTON, Mass., Jan. 2-This morning Bank Examiner Gatchel received orders from the Comptroller of the Currency at Washington to take full charge of the Lancaster National Bank and examine into its affairs. A notice that the bank had suspended business was posted on the door this morning. President McNeil's whereabouts is as yet unknown, but all the indications point to his being in Canada. Mc Neal secured but few available assets from the institution before his flight. The following is a list of the valuables he took from the vault on the evening of his flight: Bills, $6,000; gold, $990: Herdic Company bonds, $4,000; one note of F. C. McNeal to W. H. McNeal, $5,000; one note of the Wyoming Meat Company to Lowell Cattle Company, for $3,000; one note of F. M. Nelson to F. Watchburn, for $5,000; note of Watchburn, for $3,000; three notes of the West Rutland (Vt.) Marble Company, for $7,500; total, $36,490.

9. January 3, 1886 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, January 3, 1886

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Of Course He's in Canada. CLINTON, Mass., Jan. 2.-This morning Bank Examiner Gatchell received orders from the comptroller of the currency at Washington to take full charge of the Lancaster National bank and examine into its affairs. A notice that the bank had suspended business was posted on the door this morning. President McNeil's whereabouts is as yet unknown, but the indications point to his being in Canada. The defaulting president of the Lancaster bank, McNeil, secured but few available assets from the institution just previous to his flight, the whole amount being $7,000. The following is a list of the valuables he took from the vault on the eve of his flight:

10. January 8, 1886 Weekly Commercial Herald Vicksburg, MS
Article from Weekly Commercial Herald, January 8, 1886

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Another Bank President Supposed to Skip to Canada. CLINTON, MASS., Jan, 2.-This morning Bank Examiner Getschel, received orders from the comptroller of the currency at Washington to take full charge of the Lancaster National Bank and examine into its affairs. A notice that the bank had suspended business was posted on the door this morning. President McNiel's whereabouts is as yet unknown, but all the indications point to his being in Canada.

11. January 20, 1886 Evening Star Washington, DC
Article from Evening Star, January 20, 1886

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Changes in the Offices. Frederick W. Worden, of Michigan, has been appointed a special timber agent, at $1,200 per annum, and George F. Elliott, of Ohio, has been appointed a swamp land agent, at $1,400. The controller of the currency to-day appointed John W. Corcoran receiver of the Lancaster National bank of Clinton, Mass., insolvent. George U. Mayo, of Abingdon, Md., has been appointed chief of the draughting division of the General Land office, at $1,800 per annum, vice Gustave P. Strum, assigned to a clerkship. Wm. M. Stewart has resigned a $1,000 clerkship in the Pension office. The Secretary of the Treasury has appointed Robert L. Miller, of Ohio, to be chief of a division in the Register's office.

12. January 20, 1886 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, January 20, 1886

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NEWS SUMMARY Eastern and Middle States. DURING 1885 there were 30,038 births, 11,716 marriages, 35,696 deaths and 73,372 arrests in New York city. GOVERNOR HILL'S inaugural ceremonies at Albany comprised a civic and military procession-in which the governor took partto the capitol, where the oath of office was administered by Judge Learned. In his address Governor Hill reviewed the history of some of his predecessors and made promises of a reform administration, quoting words of Mr. Tilden and pledging himself to follow in the footsteps of that governor. WILLIAM H. McNEIL, president of the Lancaster National bank, of Clinton, Mass., disappeared suddenly, and the bank suspended. The absconding president was thought to have fled to Canada. FREDERICK FISHEL. confidential bookkeeper for a large New York clothing house, during the past few years stole from the firm sums aggregating $75,000, which he spent in gambling and fast living. When detection stared him in the face he fled to Canada, but was arrested a few days ago and brought back to the metropolis. LAST year accidents in the numerous Lackawanna Valley (Penn.) mines, amounted to seventy-one deaths, the maiming of sixtynine persons (some of whom will die) and the wounding of 173. FIRE has partly destroyed the Essex County lunatic asylum, Newark, N. J. Though greatly excited, the 350 inmates were safely removed. The damage amounts to about $75,000. THREE small boys-Robbie, Willie and Hugh Roberts-were drowned while skating near near West Pawlet, Vt. A GREAT improdement in the iron and coal trade is reported in some sections of Pennsylvania where those industries are predominant. A COMMITTEE in New York is raising a fund of $100,000 to aid Parnell, the Irish home rule leader, and his colleagues in the British bouse of commons. About $25,000 has already been raised. MILLIE EDDIE, a trapeze performer, fell thirty feet from a trapeze while performing in a New Haven theatre, and was seriously, if not fatally injured. THE annual message of Governor Hill, of New York, says that the State's finances are in a healthful condition, although there has been an undue increase in public expenditures; that a revision of the tax laws is needed; praises the civil service laws and denounces the spoils system, and declares that the problem of the satisfactory employment of prison labor still remains unsolved. MR. AM ENDE, the Hoboken (N. J.) druggist whose mistake in a prescription resulted in the death of two young ladies some time ago, was acquitted by the jury. THE New York legislature organized by electing James W. Husted speaker of the assembly, while Lieutenant-Governor Jones swore in the Senators. The legislature is Republican in both branches. THE annual auction sales of pews belonging to Mr. Beecher's Plymouth church, Brooklyn, realized $26,626, the first choice bringing $775. J. B. LIPPINCOTT, head of the well-known Philadelphia publishing house, is dead.

13. January 21, 1886 New-York Tribune New York, NY
Article from New-York Tribune, January 21, 1886

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WASHINGTON NOTES. WASHINGTON, Wednesday, Jan. 20, 1886. RECEIVER APPOINTED.-The Controller of the Currency to-day appointed John W. Corcoran to be receiver of the Lancaster National Bank of Clinton, Mass. CIVIL SERVICE.-The House Committee on Reform In the Civil Serv ice to-day unanimously instructed Representative Pulitzer to report adversely a bill introduced by Reprensative Seney, of Ohio, for the repeal of the Civil Service law. PHOTOGRAPH POSTAGE.-The Postmaster General has directed that photographs come under the designation of printed matter and are therefore to be rated as thirdclass matter instead of being in the fourthclass, and rated as merchandise, as has heretofore been the case. Under this ruling photographs can now be sent through the malis by the payment of one cent for two ounces instead of one ceut an ounce. ARMY AND NAVY Nkws.-The leave of absence of Major Warren Webster, Surgeon, United States Army. has been ex ended nine months on account of sickness The leave of First Lientenant Thomas J. Clay has been further extended six months on account of sickness. The United States steamship Dispatch will sail from New-York in a few days for Key West and the West Indies. AGRICULTURAL ACCOUNTS.-The House Committee on Agriculture to-day agreed to report favorably a bill authorizing the transfer of a portion of the money appropriated for the laboratory division of the Agriculture Department to the seed division of the department. This bill IM really for the relief of the Commissioner of Agriculture. The employes in the seed division were paid out of the appropriation for the laboratory division by direction of General Carmen, who at the time was acting Commissioner in the absence of Commissioner Colman. Controller Durham disallowed the accounts on the ground that the transfer of the appropriation was illegal. Dakota.-Judge Moody, who was elected United States Senator by the Huron, Dakota, Legislature, today addressed the House Committee on Territories In favor of the admission of Southern Dakota as a State and the creation of a Territory out of the northern portion. His remarks were in live with those of Senator Harrison and other Republicans on the question. He stated that already there existed practically two governments in Dakota. The sections had different wants and each had a State penitentiary, university and asylum of its own. On Friday Mr. Boynton, of Dakota, and others will address the committee favor of the admission, but against division. CUSTOMS DECISIONS.-Assistant Secretary Fairehild has notified the Collector of Customs at New-York that the department acquiesces In the decision of the court in the case of Mapleson against W. H. Robertson, which was in effect that certain costumes and other theatrical properties imported by him were entitled to free entry as tools, implements or instruments; also that the Department acquiesces in the decision of the court in the case of the New-Haven Clock Company, which was in effect that certain glass shades used to cover clocks and the wooden stands on which they are placed when bough and sold together are properly classified as parts of clocks and dutiable as such at the rate of 30 per cent ad valorem.

14. January 25, 1886 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, January 25, 1886

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The Lancaster Bank. CLINTON, Mass., Jaa. 22.-Bank - examiner Gatchell says the Lancaster Bank is the worst skinned institution he has ever had anything to do with. He and the receiver both say that it is barely possible that the stockholders may escape an assessment, but it will depend upon the amount realized from doutbful assets. Gen. Butler has been retained by the directors of the Lancaster National Bank to go to Washington and secure the removal of the recently appointed receiver, Mr. Corcoran if possible.

15. February 5, 1886 Burlington Weekly Free Press Burlington, VT
Article from Burlington Weekly Free Press, February 5, 1886

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THE LANCASTER BANK AFFAIR. A Deficit of $78,000 in the Bank's Assets -A Syndicate to be Formed. AYER, Mass., Jan. 28.-The meeting of the stockholders of the Lancaster National bank of Clinton was held in Page's hall to-day, Alfred Page, president pro tem of the bank, presided, and 614 shares were represented. Counsel F. F. Allen of Lynn presented a report which showed a deficit of $78,000 in the bank's assets. A motion was made to form a syndicate to make up the deficiency; to get Receiver Corcoran recalled and have the business of the bank go on. The motion caused a lively discussion, but finally it was decided to form the syndicate. It was voted to hold q meeting in Boston Tuesday next to consider how to proceed in making up the deficit. The annual meeting will be held February 9, and it is believed Alfred Page will be ehosen permanent. It is doubted by many of the directors if Comptroller Cannon will recall the receiver and allow the bank to carry on business.

16. February 25, 1886 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, February 25, 1886

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Business Embarrassments. MIDDLETOWN, N. Y., Feb. 24.-Fuller Brothers, wool and fur hat manufacturers, made an assignment to-day. Liabilities, $60,000; nominal assets, $70,000. NEW YORK. Feb. 24.-The schedules in the assignment of David W. Granbery & Boltonhail, jewelers. show liabilities of $102,420; nominal assets, $129,320; actual assets, $23,031. BALTIMORE, Feb. 24.-A. H. Stump & Sons suspended this afternoon. Liabilities, $115,000. They hope to be able to pay in full. CLINTON, Mass., Feb. 24.-The stockholders of the Lancaster National Bank elected directors yesterday, and appointed a committee to adopt measures for taking the bank out of the receiver's hands. The total liabilities are $246,240.

17. February 27, 1886 The Examiner Hartford, CT
Article from The Examiner, February 27, 1886

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The Lancaster National Bank. CLINTON, Mass., Feb. 24.-The stockholders of the Lancaster National Bank have elected directors and appointed committee to adopt means for taking the bank out of the receiver's hands. The total liabilities are $246,240.

18. March 17, 1886 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, March 17, 1886

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THE LANCASTER BANK. Total Losses of the Concern Placed at $150,747.75. WORCESTER, Mass., March 16'-In the insolvency court today, the first meeting was held in the case of William H. McNeil of Lancaster, and claims were proved amounting to $172,981.62, John W. Corcoran, receiver of the Lancaster National Bank, of Clinton, proving that $150,747.75 were due that institution as follows: Cash stolen from the bank vault, $7000; cash embezzled, $42,000; promissory notes, $7300; notes and securities stolen, $40,305; notes and securities stolen, which cannot be accurately described, $4702; notes on which McNeil is endorser, $44,400; other items, $5620; total, $151,327.95; credit by deposit, $580.20; net indebtedness, $150,747.75.

19. March 19, 1886 Burlington Weekly Free Press Burlington, VT
Article from Burlington Weekly Free Press, March 19, 1886

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A Bad Array of Figures. WORCESTER, Mass., March 16.-In the insolvency court to-day the first meeting was held in the case of William H. McNeil of Lancaster and claims were proved amounting to $172,981.62. John W. Corcoran, receiver of the Lancaster national bank of Clinton, proving $150,747.75 due that institution as follows: Cash stolen from the bank vaults, $7000; cash embezzled, $42,000; promissory notes, $7300; notes and securities stolen, $40,305; notes and securities stolen which cannot be accurately described, $4702; notes on which McNeil is endorsed, $44,400; other items, $5620. Total $151,327.95 credit by deposit, $580.20. The net indebtedness is $150,747.75.

20. May 20, 1892 Pawtucket Tribune Pawtucket, RI
Article from Pawtucket Tribune, May 20, 1892

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JUDGE CORCORAN. The many friends of Gen. John W. Corcoran in this city will be glad to learn that Gov. Russell has appointed him to a seat on the bench as a Judge of the Superior Court of Massachussetts. Gen. Corcoran was born in 1853, and was educated in the public schools of Clinton, Mass. He then took a preparatory course in Holy Cross College, Worcester, continuing at St. John's College, Fordham, N. Y., and graduated from the Boston Uhiversity Law School in" the class of 1875. He was admitted to the bar the same year, and at once became one of the leading lawyers of central Massachusetts. He has been Town Solicitor of Clinton since the office has been established, and has been 16 years a member of the Clinton School Board, and its Chairman for nine years. He is also Chairman of the Water Board. He has frequently been honored by his party, and for the last four years he has been the candidate for Lieutenant Governor on the ticket with Governor Russell. He was a delegate to the National conventions of 1884 and 1888, and last year was ele eted delegate-at-large to this year's convention. He is at present Judge Advocate General and is also Chairman of the World's Fair Commission upon appointment of Governor Russell. His record as a financier was made upon being appointed receiver of the Lancaster National Bank of Clinton, in 1886. The President of the bank absconded leaving the bank burdened with worthless paper and its vaults rifled of some of its most valuable securities. In 1890, he having paid in full every creditor, his receivership terminated, and the stockholders of the defunct institution made him their agent and he still represents their interests in that capacity.