7184. Jewelers National Bank (North Attleboro, MA)

View Charter #7675 on SPMC

Bank Information

Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
7675
Charter Number
7675
Start Date
December 18, 1907
Location
North Attleboro, Massachusetts (41.983, -71.333)

Metadata

Model
gpt-5-mini
Short Digest
a90953ced36e7d56

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1907-12-20
Date receivership terminated
1912-10-25
OCC cause of failure
Fraud
Share of assets assessed as good
68.4%
Share of assets assessed as doubtful
18.1%
Share of assets assessed as worthless
13.5%

Description

The bank closed after the sudden death of its cashier Frederick E. Sargeant and an examination revealed misuse/hypothecation of funds. A receiver (Harry/Harvey F. Currier) was appointed in late Dec 1907, but by Jan 9, 1908 the bank was being prepared to re-open; subsequently stockholders were assessed and a new bank was planned. No newspaper describes a depositor run; the suspension resulted from bank-specific adverse information (embezzlement/misconduct by the cashier).

Events (7)
1. March 31, 1905 Chartered
Source
historical_nic
2. December 18, 1907 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Sudden death of cashier Frederick M. Sargeant led to investigation that showed he exceeded authority, made unauthorized loans and diverted/hypothecated funds; bank failed to open.
Newspaper Excerpt
The Jewelers National bank ... failed to open for business today. Bank examiners are examining the accounts of the institution.
Source
newspapers
3. December 20, 1907 Receivership
Source
historical_nic
4. December 21, 1907 Receivership
Newspaper Excerpt
Bank Examiner Currier was yesterday appointed receiver of the bank. He said last night that any further statement of the affairs of the institution would have to come from the comptroller of the currency, as matters were under his direction.
Source
newspapers
5. December 24, 1907 Other
Newspaper Excerpt
Petition filed restraining relatives from removing anything from safety deposit boxes ... alleged more than $100,000 belonging to the Jewelers' National Bank has been in the hands of Cashier Sargeant and deposited ... in various institutions in Providence and Pawtucket.
Source
newspapers
6. January 9, 1908 Reopening
Newspaper Excerpt
The board of directors ... held a conference with Receiver Charles C. Bancroft ... regarding the re-opening of the bank. It was later announced ... that the bank might be expected to re-open later on a basis agreeable to all.
Source
newspapers
7. February 14, 1908 Other
Newspaper Excerpt
Directors of the suspended Jewelers' National Bank ... voted to form a new bank at once, with a capital stock of $100,000 and a paid in surplus of $25,000.
Source
newspapers

Newspaper Articles (22)
1. December 18, 1907 Santa Fe New Mexican Santa Fe., Santa Fe, NM
Article from Santa Fe New Mexican, December 18, 1907

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BANK CASHIER MISUSED FUNDS Sudden Death of Officer of Massachusetts / Institution Causes Its Suspension. /North Attleboro, Mass., Dec. 18.The Jewelers National bank of this city whose vice president and cashier, Frederick M. Sargeant, was found dead in a bath tub at his home last night, failed to open for business today. Bank examiners are examining the accounts of the institution. Dead Cashier Misused Funds. New York, Dec. 18.-Albert H. Wig. gin, president of the Jewelers National Bank of North Attleboro, who lives in this city today made the following statement: "The sudden death of Cashier Sargeant naturally excited suspicion and caused an immediate investigation of the condition of the bank. This shows Sargeant exceeded his authority and without the knowledge of the directors made loans to local concerns- in which he was interested. The directors pending an examination of the books thought it best for the bank to remain closed temporarily."

2. December 20, 1907 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, December 20, 1907

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WILL ASK FOR RECEIVER. Directors of Jewelers' National Bank of North Attleboro, Mass. North Attleboro, Mass., Dec. 19.-The directors of the Jewelers' National bank which has been closed since the sudden death of its vice president and cashier, Frederick Sargeant, two days ago, decided tonight to make application for the appointment of a receiver. Henry E. Currier, national bank examiner, has been Investigating its affairs with the assistance of Alfred Ewer. another bank examiner, and their conclusion, communicated tonight to the directors, led to the announcemet of the proposed receivership. Alfred H. Wiggin of New York, president of the bank. issued the following statement in behalf of the directors: "The report made today by National Bank Examiners Currier and Ewer as a result of their further Investigation into the affairs of this Institution, convinced the directors that as a result of the personal transaction of the late cashier, the bank is insolvent, the complications are many and far reaching and in justice to all the only proper course is to ask that application be made to the comptroller of the currency for the appointment of a receiver." No statement regarding the amount involved in the transactions of the cashier was obtainable tonight.

3. December 20, 1907 The News-Democrat Providence, RI
Article from The News-Democrat, December 20, 1907

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BANK INSULVENT, WIGGIN STATES Jewelers' National of North Attleboro Must Go Into Hands of a Receiver-Affairs Hopelessly Tangled. Business Affected. The Jewelers National Bank of North that the dead cashier's "personal transactions" mentioned in President WigAttleboro is insolvent. gin's statement may reach many thouApplication for a receiver was made sands of dollars, and in this connection last night following reports by National it is pointed out that it must have been a heavy blow which could force so strong Bank Examiners Henry S. Currier and a bank into insolvency. Common report Albert Ewer after they had worked on places the shortage above $50,000. the books of the institution all day and An alleged loan by Mr. Sargeant of $30.assured themselves of the bank's insolv000 to one firm is 'among the rumors in ency "as the result of the personal transcirculation. actions of the late cashier," Frederick E. Mr. Sargeant lived well, though no betSargeant, who was found drowned in a ter than a man in his position would be bathtub in his apartments in the bank expected to live, and the supposition that building on Tuesday night. he used the money of the bank for perAnnouncement of the request for apsonal gratification is deemed untenable, pointment of R receiver was made in the unless through the stock market. following statement by the president of CHECKS COME BACK. the bank. Albert H. Wiggin, after a conThe return of checks drawn on the terence between the board of directors Jewelers National bank by its depositors And the two examiners last evening: in payment of accounts elsewhere began "The reports made today by Nayesterday. The Clearing Houses sent tional Bank Examiners Currier and back a. considerable number and a Boston Ewer as the result of their further innotary public appeared with a package vestigation into the affairs of the inof checks, upon which payment had been stitution convince them that as a rerefused. His mission was to get the sult of the personal transactions of maker to take up the check. Where the the late cashier the bank is insolvent: amounts were beneath $100 the request that the complications are many and was usually complied with, but in several far-reaching: and that in justice to all instances where the amount called for the only proper course is to ask that was larger it was impossible. application be made to the comptrolA large part of the manufacturing jew. ler of the currency for the appointelers did business with the bank and ment of a receiver." many of them are feeling the pinch rePresident Wiggin refused to add any. sulting from the lack of ready money. G. thing to his statement in the way of exK. Webster & Co., J. Sommer & Co. and planation and the other directors also E. I. Richards & Co. were unable to pay refused to talk regarding the situation. off their hands Wednesday because they It was learned, however, that the opedid not realize the condition of affairs rations of the cashier were conducted early enough to get money from other through several other banks and that the sources. The firm of W. H. Bell & Co. work of unravelling the tangle was thereprocured funds in this city with which to fore made very difficult for the examinmake up its pay roll. ers and the directors. The situation is made especially hard Mr. Wiggin refused to affirm or deny for the jewelers, as it is the end of their R report that a few days ago he receivyear, and they cannot expect to have ed from Cashier Sargeant a statement in much money coming in until concerns to the way of a confession of his operations. One of the bank officials when asked for which they have delivered goods for the holiday trade begin to make payment the information on this point shook his head first of January. and replied "Very bad. very bad." A Providence bank has offered to supAS TO THE SUICIDE STORY. ply the Attleboro jewelers who are hit by The following statement regarding the the suspension of the Jewelers National death of Cashier Sargeant was given out bank with sufficient funds to tide them last night by the family physician, Dr. over. It is also said that a Boston instiWillis L. Hale: tution is willing to loan the Jewelers Na"As a statement has appeared in some tional bank $20.000 on good security. out-of-town papers that Frederick E. The town of North Attleboro has $30,000 Sargeant committed suicide it seems tied up in the bank and the Attleboro proper at this time that I, as his family Savings bank of North Attleboro has ofphysician, as well as the one who probafered to lend sufficient money to the bly knows more details regarding this town to help it out while the affairs of sad affair than any one else, should state the Jewelers National bank are straightthat I have not seen anything which is ened out, which offer was accepted by proof in my mind that my friend, Mr. the selectmen, as yesterday was pay day Sargeant, died of other than accidental for the town's employes. Yesterday $3700 drowning." was borrowed at 6 per cent. It is current talk in North Attleboro

4. December 21, 1907 The Barre Daily Times Barre, VT
Article from The Barre Daily Times, December 21, 1907

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ONLY $1,000 IN VAULTS Of Wrecked Jeweler's Bank at No. Attleboro WHEN OPENED TO - DAY Plans Are Now Under Way to Start a New Bank, as It Is Believed That the Jewelers' Can Never Recover. North Attleboro, Mass., Dec. 21.-How completely the Jewelers' National bank was wrecked was revealed to-day when the vaults were discovered to contain only $1,000 in cash. It has just been discovered that Cashier Sargent was mysteriously missing from the bank between the hours of as and 5 on Tuesday afternoon, just before he drowned himself. Plans are now on foot here to establish a new national bank, for it is believed that the Jewelers' bank will never recover from the loss caused by Sargent's manipulations. Bank Examiner Currier was yesterday appointed receiver of the bank. He said last night that any further statement of the affairs of the institution would have to come from the comptroller of tne currency, as matters were under his direction. E. R. Harriman, who had all of his savings deposited in the Jewelers' bank, died yesterday as the result of a shock sustained while discussing its tangled affairs. He was stricken with apoplexy early in the day, and died at o'clock without regaining consciousness. He leaves a widow and three children. Following the announcement of the insolvency of the bank and the appointment of Harry F. Currier of Malden as receiver, the Mason Box company of North Attleboro closed its factory. The t principal owner of the factory, Charles 0. Masen, is also a director in the Jeweiers' bank. About 200 hands are temporarily out of employment. it was learned last night that Cashier Sargent, whose operations are charged to have caused the bank's suspension, sold his stock in the institution several weeks ago. Mr. Sargent owned 101 shares of the bank's stook. and, next to the president, Albert H. Wiggin, was o the largest individual shareholder. Mr. Wiggin has 212 shares.

5. December 21, 1907 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, December 21, 1907

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MUCH UNEASINESS Caused by the Insolvency of Attleboro Bank. Jewelers Can't Get Money For Payrolls---Towns Ditto. Providence Banks Will Help Them Out During Crisis. North Attleboro, Mass., Dec. 20.-The declaration made last night by Albert H. Wiggins, president of the Jewelers, National Bank of this town, that the institution was insolvent, has caused much uneasiness among the business interests of the place, as most of the manufacturing jewlers had heir funds on deposit at the suspended bank. The outlook is serious, as there are payrolls to be met, while on the first of the year many bills fall due. Three firms did not pay off their hands on Wednesday, as usual, but it was explained that they did not understand the condition of affairs at the bank in time to get the necessary money from some other source. The firm of W. H. Ball & Co. of Attleboro Falls, whose funds were on deposit at the Jewelers' National Bank, secured sufficient funds for their payroll needs in Providence yesterday. and one of the members of the firm was informed that the Providence banks stood ready to furnish the jewelers of North Attleboro and Attleboro Falls with sufficient money to tide them over the crisis. The town, of North Attleboro has $30,000 tied up in the suspended institution. On Wednesday the Attleboro Savings Bank offered to lend enough money to the town to help it out while the bank's affairs were being straightened out. Yesterday was payday for the town's employes, and the selectmen at a meeting last night voted to take advantage of the offer. and as a preliminary step, $3700 was borrowed at six per cent. The town of Plainsville has ail its funds, $3600. held up by the suspension and unless the town treasurer, Walter E. Barden, can procure more money than he has on hand at the present time, the school teachers and other town employes whose monthly pay is due today, will probably have to get along as best as they can until after Christmas. The amount of pay due is $550, while the town has on hand only $275. There are eight school teachers, and the amount of money on hand will pay only six of them.

6. December 24, 1907 Evening Star Washington, DC
Article from Evening Star, December 24, 1907

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# NORTH ATTLEBORO BANK CASE. Respondents Restrained From Removing Cash or Valuables Special Dispatch to The Star. NORTH ATTLEBORO, Mass., December 24.-Judge Brown of the United States circuit court at Providence, R. I., has issued an order on the petition of Harry F. Currier, temporary receiver of the Jewelers' National Bank, restraining Marion E. Sargeant, widow of Cashier Frederick E. Sargeant, and her brother-in-law, F. W. Sargeant of Manchester, N. H., and Edward E. Morgan of Auburndale, Mass., from having access to or removing anything from safety deposit boxes in various Providence institutions which are named. It is alleged in the petition that more than $100,000 belonging to the Jewelers' National Bank has been in the hands of Cashier Sargeant, and deposited, either in his own name, or that of the respondents in the petition, in various financial institutions in Providence and Pawtucket. The respondents are also restrained from transferring or signing over or otherwise dealing with any security or moneys deposited with them by Frederick E. Sargeant, or in his possession at the time of his death, and since taken possession of by them.

7. December 24, 1907 The News-Democrat Providence, RI
Article from The News-Democrat, December 24, 1907

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DEAD CASHIER BELIEVED TO HAVE HIDDEN $100,000 connection with the action brought ferred to, in the belief of the receiver, was either deposited with the defendants by Harry F. Currier, temporary receiver by Sargeant himself or taken possession of the Jewelers National bank of North of by them since the death of the cashier. Attleboro in the United States circuit Investigations in connection with the court yesterday to restrain the widow wrecking of the bank continued today, and other relatives of the late cashier especially with reference to ascertaining of the bank, Frederick E. Sargeant. from the movements of Mr. Sargeant previous making any withdrawals from safe deto his death. Evidence has been discovposit boxes, it was learned today that ered, it is claimed, to prove that Sargeant the receiver alleges sequestration of the was seen frequently in company with bank's property. brokers having offices in Pawtucket and In the petition filed with the court Mr. that apparently he was on friendly terms with them. Currier said that he believed the defendIt is believed that $1000,000 has been ants named by him, Marion E. Sergeant, the widow; Charles W. Sargeant, brother "salted" away in institutions hereabouts. Firms who have been affected by the of the cashier, and Edward E. Morgan, father of Mrs. Sargeant, hold keys to desuspension of the bank today sent circuposit boxes in Providence and Pawtucket lar statements to persons having credit institutions in which have been placed with them, asking them to make payments as promptly as possible, as the securities, assets, moneys, etc., belonging to the Jewelers National bank. The funds of the concerns were tied up by petition also states that the property rethe bank's failure.

8. December 27, 1907 New-York Tribune New York, NY
Article from New-York Tribune, December 27, 1907

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NO OPPOSITION BY RELATIVES. Father-in-Law of Late Cashier of Jewellers' Bank Issues Statement. North Attleboro, Mass.. Dec. 28. -The petition of National Bank Examiner Currier. in the United States Court at Providence, asking that the reistives of the late Frederick E. Sargeant, cashier of the suspended Jewellers' National Bank. of this town. be enjoined from removing from safe deposit boxes moneys alleged to have been placed there by Mr. Sargeant, will not be opposed by the relatives of the late cashier. Edward E. Morgan. father-in. law of Mr. Sargeant, who has applied for papers of administration. issued a statement, in which he said: My attention has been called to the petition which Bank Examiner Currier has presented to the fedoral court in Providence. I will not oppose the issuing of the order by the court and will not be present at the hearing. My only wish is to aid the receiver in a speedy settlement of this sad affair, As and I will do all in my power to assist him. far as I know, the only safe deposit vault in Rhode Island in which Mr. Bargeant had anything is in the Slater Trust Company. Pawtucket. I had ale ready called this fact to the attention of the m colver, and I am perfectly willing to have it opened in the presence of the receiver or his the

9. December 27, 1907 The News-Democrat Providence, RI
Article from The News-Democrat, December 27, 1907

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BURGLARS ROB RESIDENCE OF W. H. RILEY, JEWELER dow. They went first to the dinini North Attleboro, Mass., Dec. 27.room, where they looted the sideboard. Burglars visited the residence of William carrying away every piece of solid silver. H. Riley, a manufacturing jeweler, some Mr. Riley's chamber was then visited. time during the night and carried off all The pockets of Mr. Riley's trousers were rified, the thieves securing from that garthe silverware and all the money that ment a considerable sum of money. could be found in the house. Neither Even Mr. Riley's keys were taken by the Mr. Riley nor his wife were awakened by thieves. the intruders, and their loss was not disMr. Riley is one of the directors and covered until they arose this morning. heaviest stockholders in the suspended The thieves made their entrance into Jewelers National bank. the house by prying open a library win-

10. December 27, 1907 The Big Sandy News Louisa, KY
Article from The Big Sandy News, December 27, 1907

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The schooner David Currier, laden with stone, sunk near Westbrook, Conn. The crew was landed Say brook Point. Robert Mitchell, member of the state board of agriculture and a leading farmer of Indiana, died at Prince ton, Ind. An explosion of gas in the Darr mine of the Pittsburg Coal company at Jacobs Creek, Pa., entombed between 200 and 250 miners, and there was scarcely a ray of hope that a single one of them would be taken from the mines alive. Many men escaped death because they were observing a festival of the Greek church. A terrifie explosion occurred in Palermo in the military powder magazine, where a large quantity of dynamite was stored. and was followed by a number of lesser explosions, the whole town being badly shaken and the people thrown into a panic, About 25 persons were killed and many injured. Thinking it unloaded. John Meyer, a farmer boy, living at Holy Cross, Ia, pointed a shotgun at his 16-yearold sister and pulled the trigger. blow. ing her head from her shoulders. Col. James B. McGonigal, who was a conductor on the first train operated on the Panhandle railroad in 1850, died in Kansas City, aged 74. The late King Osear of Sweden was buried at Stockholm with imposing ceremony. The Republican county committee of New York county, by - almost unanimous vote, refused to consider at this time a resolution indersing Gov. Charles . Hughes for the Republican presidential nomination. C. Hauge, the Norwegian minister to the United States, died while on a snowshoelag trip near Christiania. Henry Dibblee. one of the most prominent real estate men in Chicago, died of heart disease, aged 67 years. The first bill passed by the Philippine assembly appropriated $1,000,000 for schools. Burglars in Springfield, III., broke the window of the jewelry store of John C. Pierik and made their escape with $10,000 worth of diamonds. The Glenville Banking & Trust company, a small concern in the suburbs of Cleveland, O., made an as signment in the insolvency court. Engineer Frank Krag, 50 years old, of Buffalo, N. Y., thought III and faint, stayed at his throttle till he had brought his fast Lake Shore train safely into Collinwood, O. Then he stepped from his cab, and in a few minutes was dead. Olive Bartlett, daughter of J. J. Bartlett, a retired farmer, was shot and killed at her home in Olathe, Kan., by J. Frederick Kastendiek, a former sweetheart, who then killed himself. Howard West, alias Frank Earl, was electrocuted in the annex at the Ohio penitentiary at Columbus for the murder of William Legg, a butcher of Sid. ney, O. An attempt to rob a car on the Buf falo express in Philadelphia was frus. trated and William A. Hewett, said to have been caught beneath the car which contained $60,000 in gold bullion, placed under arrest. Capt. D. L. Keller, alias D. L. Smith, a United States officer of Reno, Nev., was arrested at Kamloops, B. C., charged with having stolen a bank check from Fort Sheridan, III., and filling It in for $92,500. Foreigners attacked Constable James Dolan at Lebanon, Pa., when he attempted to arrest coal thieves and the constable shot into the crowd, killing two Hungarians. The coal mines of the United States are killing three times as many men per 1,000 employes as those of most European countries. In the last 17 years 22,840 men have given up their lives in the mines of this country. These and other shocking facts are set forth in a report of an investigation by experts ordered by Secretary Garfield. The supreme court of Illinois handed down an opinion declaring the anticigarette law passed by the legislature this year dees not apply to eigarettes which contain pure tobacco, but only to those sigarettes which contain substances deleterious to health. The Diamond Jo line of Mississippi river steamers has been sold to a syndicate of men who will improve the present fleet of passenger and freight boats and increase its earrying eapacity very materially. Henry F. Currier, national bank examiner, took charge of the Jewelers' National bank at North Attleboro, Mass., whose vice president and cashier, Frederlek E. Sargeant, was found dead in a bathtub. Smallpox broke out in Chadbourne hall, a dormitory for women students at the University of Wisconsin, and 100 young women who live in the dormitory were ordered vaccinated and to leave for their homes. An attempt was made to hold up the west-bound Northern Pacific train 11

11. January 3, 1908 The News-Democrat Providence, RI
Article from The News-Democrat, January 3, 1908

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MORGAN'S PETITION NOT HEARD TODAY North Attleboro, Mass., Jan. 3.-The s hearing on the petition of E. F.. Morg of Auburndale that he be appointed administrator of the estate of the late Frederick E. Sargeant, cashier of the Jewelers National bank of North Attleboro, which was set for today in the probate court at Fall River, was postponed. Counsel for Mr. Morgan and for Receiver Charles G. Bancroft of the bank will arrange the date for the hearing at a conference to be held shortly. Receiver Bancroft earlier this week filed an appearance protesting against the appointment of Mr. Morgan as administrator of the Sargeant estate.

12. January 9, 1908 The News-Democrat Providence, RI
Article from The News-Democrat, January 9, 1908

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NORTH ATTLEBORO BANK TO REOPEN North Attleboro, Mass., Jan. 9.-The board of directors of the Jewelers' National bank held a conference with Receiver Charles C. Báncroft today and with Lewis Reeves, accountant, regarding the re-opening of the bank. It wasTater announced that matters appeared most satisfactory and that the bank might be expected to re-open later on a basis agreeable to all. The idea of a new bank had been abandoned, it was added. The receiver's statement is expected within a few days.

13. January 9, 1908 The Spanish Fork Press Spanish Fork, UT
Article from The Spanish Fork Press, January 9, 1908

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FINANCIAL Jan. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guilty of embezzlement. 8-F. D. Gilman, Indiana banker. sentenced to term of one to three years in state prison. -Disappearance of $173,000 from subtreasury at Chicago made public. Mar. 14-Virtual panic in Wall street: Secretary Cortelyou relieved the situation. 19-Citizens' State bank of Firth, Neb., closed by state. 28-Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, Mo., convicted of illegal banking, sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 19-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. 1-Citizens' bank of Eureka Springs, Ark., suspended. 5-Fort Dallas National bank of Miami, Fla., closed. 20-Farmers' National bank of Boyertown, Pa., ordered closed. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. M-Receivers appointed for Pope Mfg. Co., of Hartford, Conn.: failure ascribed to stringency of money market. Sep. 5-Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. 9-Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private Institutions, closed doors. 16-Collapse of Heinze corner in copper caused violent slump in stocks in New York: firm of Otto Heinze & Co., suspended from stock exchange. 19-New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. 22-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities: call money at 70 per cent. 23-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks. Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. M-Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. 25-Six more minor banking institutions in New York closed doors. Union Trust Co., of Providence, R. I., suspended. Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. $0-California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed United States Steel corporation secured controlling Interest in Tennessee Coal & Iron Co. -Receiver appointed for Arnold Print works of North Adams, Mass., one of largest textile concerns in country. 12-Merchants' National bank of Portland, Ore., California bank of Oakland, Cal. and Farmers' & Merchants' bank of Bapulpa, I.T., suspended. as Secretary of Treasury Cortelyou ordered issue of $50,000,000 of Panama bonds and $100,000,000 certificates of indebtedness as means of relieving financial situation City National bank of Frederick, Okla., failed. 17-American Silk Co. capital stock, $11,000,000, which operated mills in several cities, placed in hands of receiver. Dec. Chelsea Savings abnk of Chelsea, Mich., owned by State Treasurer Glazier, closed. -National Bank of Commerce, one of largest financial institutions of Kansas City, suspended. Fort Pitt National bank of Pittsburg, closed. l7-Jewelers' National bank at North Attleboro, Mass., in hands of receiver.

14. January 10, 1908 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, January 10, 1908

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CONDENSED DISPATCHES. All trolley car traffic in the Boston subway was blocked for an hour and a half during the rush hours Thursday night by a car becoming disabled. The gear case of the car broke and threw it from the ralls, smashing several windows. The conductor was slightly cut by glass, but the passengers were not hurt. Michael H. Norton, was brought before Judge Williams in the Roxbury, Mass., district court Thursday on the charge of murdering Mary McCarty at the doorway of her home at 27 Shirley street Thursday. Norton was held without bail for a continuance of the hearing Jan. 16. William B. Nevin, 14 years of age, who until two years ago was a member of the New York Stock Exchange, committed suicide Thursday by leaping in front of a subway train. His wife said he suffered heavy financial losses during the last five months and that he had been in a serious condition of health for sometime. After his retirement from Wall Street Mr. Nevin went to the Canadian Northwest to take up real estate ventures. He returned to New York a few months ago. The board of directors of the Jewellers' National Bank of North Attleboro, Mass., held a conference Thursday with Receiver Charles G. Bancroft and with Lewis Reeves, accountant, regarding the re-opening of the bank. It was later announced that matters appeared most satisfactory and that the bank might be expected to be re-opened later on a basis agreeable to all. The idea of a new bank had been abandoned. it was added. The receiver's statement is expected within a few davs. A New York undertaking establishment received an answer Thursday night to a telegram sent by it to Earl Grey, governor general of Canada which. it is said, instructed the company to inter at its discretion the body of H. Gray Duberly, who killed himself several days ago at the Hotel Hermitage. The letter intimated that Earl Gray would defray the expenses of the funeral. Duberly was a distant relative of the governor general. The burial will be in Mount Kensico, New York, Friday.

15. January 15, 1908 New-York Tribune New York, NY
Article from New-York Tribune, January 15, 1908

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BANK FUNDS HYPOTRECATED. North Attleboro, Mass., Jan. 14.-The fact that Frederick E. Sargeant, the late cashier of the Jewelers' National Bank, of North Attlebore, which is now in the hands of a receiver, had been hypothecating the funds of the bank became definitely known to-day when the surety company which furnished his bonds paid over to the receiver of the bank the sum of $20,000, the full amount of the bond. The payment of the bond will aid greatly in paying the depositors of the bank, and it is now hoped that all depositors will be paid in full. The payment of $75,000 by the Roger Williams Insurance Company a week or two ago and the payment of the cashier's bond have swelled the visible assets by $95,000. The examination of the bank's affairs has brought out the fact that Cashier Sargeant had received deposits from a number of persons, but had diverted the money to his own uses, and had made no entry of the deposits on the books of the bank. An investigation of the cashier's personal affairs has shown that he had accounts with several Boston brokerage houses, and it is believed that he lost heavily in speculations.

16. January 16, 1908 Iowa County Democrat Mineral Point, WI
Article from Iowa County Democrat, January 16, 1908

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HOPE FOR DEPOSITORS. Will Get Life Insurance and Surety Bond of Dead Cashier. ,North Attelboro, Jan. 15.-The fact that Frederick E. Sargent, late cashier of the Jeweler's National bank of North Attelboro. which is now in the hands of a receiver, had been hypothecating the funds of the bank, became definitely known yesterday when the surety company who furnished his bonds paid over to the receiver of the bank the sum of $20,000, the full amount of the bond. The payment of the bond will aid greatly in paying depositors of the bank and it is now hoped that all depositors will be paid

17. January 26, 1908 New-York Tribune New York, NY
Article from New-York Tribune, January 26, 1908

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of old stock surrendered, and that the cash now on deposit amounts to $3,974,877. Portland, Me., Jan. 25.-M. E. Sprague, of Drew Plantation. the lumberman who assigned in November, on the same day of the assignment of James A. Wood, of Boston, who also filed a petition in bankruptcy at Boston yesterday, filed a petition of voluntary bankruptcy in the United States District Court to-day. fixing his liabilities at $658,946. Miscellaneous claims aggregate $395,092. secured claims $72,500, wages $4,200. and notes indorsed $189,393. The assets are given as $560,133. Boston. Jan. 25.-With liabilities amounting to $486,487. Bernard Davis, a real estate contractor of this city, filed a petition in bankruptcy in the United States District Court to-day. The assets are scheduled as "doubtful." The unsecured claims amount to $12,487. Chicago, Jan. 25.-Petitions in bankruptcy were filed yesterday against the Cream City Park Amusement Company, of Lyons, III., by creditors of the concern. It is said the liabilities of the company are $160,000 and assets $85,000. Reading, Penn. Jan. 23.-Nearly one thousand employes of the Reading Hardware Company have been ordered on a working schedule of fifty hours a week. They have been working only thirty-nine hours. The outlook in the hardware trade is brighter. North Attleboro, Mass., Jan. 5.-The Jewellers' National Bank of North Attleboro, now in the hands of a receiver, will be liquidated and a new bank formed, according to a statement made tonight by one closely identified with the affairs of the institution. According to the same information there will be an assessment of 100 per cent on each of the stockholders, and the depositors will be paid in full. The assessment on the stockholders will realize $80,300. Pottsville, Penn., Jan. 25.-Several open hearth furnaces have been lighted up for it more general resumption of work on Monday at the plant of the Eastern Steel Company at this place. Two of the three rolling mills will also start on Monday, while the third will resume on Tuesday, giving employment to about one thousand hands. The plant has been partially closed for several weeks.

18. February 1, 1908 Evening Star Washington, DC
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Bank Stock Assessed. NORTH ATTLEBORO. Mass., February 1.-By order of Controller of the Currency William B. Ridgely, the stockholders of the suspended Jewelers' National Bank of North Attleboro will be assessed 100 per cent par value of their holdings of the stock of the bank. The institution was capitalized for $100,000, and this sum will be realized by the assessment 'and will be used to pay the depositors.

19. February 2, 1908 New-York Tribune New York, NY
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ORDERS 100 PER CENT ASSESSMENT North Attleboro, Mass., Feb. 1.-By order of Controller Ridgely, the stockholders of the suspended Jewellers National Bank, of North Attleboro, will be assessed 100 per cent par value of their holdings of the stock of the bank. The institution was capitalized for $100,000. and this sum will be realized by the assessment and used to pay the depositors. The Controller decided originally the assessments should be paid on or before February 24. but Charles G. Bancroft, the receiver, issued a notice to the stockholders 10-day that he had been granted an extension of time, and that the assessments might be paid in four monthly instalments, each on or before the 24th day of each month.

20. February 11, 1908 Evening Bulletin Honolulu, HI
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TELEGRAPH BREVITIES It is announced that the ant Nichols Pickard, arrested at Moncite coal interests are considering roe, Tex., and taken to Iowa for the murder of Williams Leets twentymaintenance of present prices ins of making a cut of 50 cents a nine years ago, has been found to be not the man wanted. He has started April 1. for home with $100 and a ticket furThe position of superintenden the Carnegie institution's soutl nished him by a son of the murdered man. observatory has been offered to tronomer R. H. Tucker of the I The first report of the receiver of Observatory. the Jewelers' National Bank of North Luther Burbank has made an Attleboro, Mass., shows the liabilities tack upon the report made by of the bank on the books as $799,Department of Agriculture upon 721. The assets at suspension were use of cacti for food. $912,822, of which the receiver esA war between Prof. Jacques I timates $624,344 as good. and English biologists over the Officers have been sent from Mameability of cells by salts and rion, III., to the mining town of Bush and water is in progress. to quell any disturbance that may King Alfonso of Spain was ne follow an outbreak of Italians against killed recently by a boar which Americans. A dispute between an thought had been killed. Italian miner and a mine superinLiquor men of Minnesota me tendent started the trouble. Minneapolis and formed plans to For the first time in twenty-five the tide of legislation against sale years a woman has been convicted of The German-American Alliance o arson in New York. Mrs. Aggie AckPaul has started a campaign to cities and towns larger control erly was found guilty of setting fire the liquor traffic. to an apartment building in a teneIt is announced in New York ment district in Brooklyn. W. D. Haywood, who was acqu It was announced at an alumni on the charge of murdering ex banquet in New York that $50,000, Steunenberg of Idaho, will be needed to obtain the gift of $50,000 candidate of the socialists for 1 by Andrew Carnegie, for the Illinois dent. College at Jacksonville, III., had been Spain has decided to stand by raised. el-Aziz as the recognized sovereis William J. Bryan and Judson HarMorocco, regarding Mulai Hafid pretender. mon were given an enthusiastic reception in Birmingham, Ala. Mr. It is announced in New York Harmon was introduced as "the next the Vaudeville Comedy club and "White Rats." both organiza vice president." composed of vaudeville perform District Judge George M. Bourquin will unite to oppose the threat at Butte, Mont., has approved a loan cut in salarfes. of $200,000 by Edward Creighton Replying to President's Roose Largey to the State Savings Bank, a criticism of his beef-trust deci suspended "Heinze institution, to reJudge Humphrey said: "There sume business. many citizens whose action is that they at least allow us to be Heirs of Louis Peralta are again that they expect the judicial de trying to get title to the sites of the ment of the government to be I'll cities of Oakland, Berkeley, Alameda accordance with public sentimer and thousands of acres of rich CallThe Western Stock Show As fornia land under alleged treaty tion is considering plans for a rights. ium and sheds for quartering an It'is said that a bill will be introat Denver, the whole to cost $30 duced in Congress soon providing that 185 editorial rooms-256 the government shall furnish rifles to ness office. These are the nev school boys who wish to learn to shoot. ephone numbers of the Bulletin .

21. February 15, 1908 Daily Kennebec Journal Augusta, ME
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# WILL FORM NEW BANK. Directors of North Attleboro Institution Will Start Anew. North Attleboro, Mass., Feb. 14.-Announcement was made today that at a meeting last night of the directors of the suspended Jewelers' National Bank of North Attleboro it was voted to form a new bank at once, with a capital stock of $100,000 and a paid in surplus of $25,000. The name of the new institution has not yet been selected, but it is understood that the word "Jewelers" will be incorporated as part of the title. Half of the capital stock of the new bank was subscribed at last night's meeting. It was voted to have a directorate of seven members, five of whom were chosen as follows: Frederick E. Studley, North Attleboro; Joseph L. Sweet, Attleboro; G. K. Webster, North Attleboro; Albert Totten, president of the Attleboro Savings Bank, and Andrew D. Jencks, treasurer of the Slater Trust Co. of Pawtucket, R. I. The other two directors will be selected from the three following names: Frank L. Baker, Providence, and G. Herbert French and Fred A. Howard, North Attleboro.

22. February 15, 1908 The Washington Herald Washington, DC
Article from The Washington Herald, February 15, 1908

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PARAGRAPHS BY WIRE. Fishkill Landing, Feb. 14.-The roundhouse and machine shops of the Central New England Railroad here were burned last night. Loss over $100,000. Guthrie, Okla., Feb. 14. - -The house yesterday killed the hotel bill. which required nine-foot sheets on beds and provided a penalty for using cracked cups. Rochester, N. Y., Feb. 14.-For twentyfour hours Western New York has been in the grip of a rainstorm that has so melted the snow that many streams are overflowing. New York, Feb. 14.-In the fall of a scaffold fifty feet high on the prison of the East Sixty-seventh street station to-day, John Munroe, a bricklayer. sustained fatal injuries. Kansas City, Mo., Feb. 14.-Mrs. Clara C. Hoffman, president of the Missouri W. C. T. U., is dead after a long illness, aged fifty-five. She was well known as & national temperance worker. North Attleboro, Mass., Feb. 14.-Directors of the suspended Jewelers' National Bank, of North Attleboro, have voted to form a new bank at once, with a capital stock of $100,000 and a paid-in surplus of $25,000. Chicago, Feb. 14.-Thomas Jefferson McNally, a Democratic leader in the First ward, is dead of heart disease. He was born sixty-four years ago in Brooklyn. He was proud of the fact that he had a hand in building the Monitor. Queenstown, Feb. 14.-Charles M. Schwab. who arrived here to-day, denied a New York report that he is on his way to Russia. He says he is going to London, will remain there a week, and then will return to the United States. New Haven, Conn., Feb. 14.-William Buchanan, alias Charles E. Peterson, wanted for burglary in Boston on January 11, has been arrested here. In his room was found a large amount of silverware, some of which was engraved "Cabot." New York, Feb. 14.-Seven passengers were severely hurt to-day in a head-on collision between trolley cars on the trestle over the tracks of the New York and New Jersey Railroad at Hackensack. Michael Egan, a motorman, was pinned in the wreck and had a leg cut off. Guayaquil, Ecuador, Feb. 14.-A revolutionary movement at Manabi has been nipped. The soldiers of the garrison there were approached by certain individuals, who tried to bribe them to start a revolution. The troops resented this effort and denounced the agitators to the authorities. The plotters were arrested. Paterson, N. J., Feb. 14.-Unable to find work, and with no money in the house with which to buy food for his seven children and his wife, William Farrell, of 21 Belmont avenue, has notified the poormaster that he is unable to bury his little child, who died yesterday. Poormaster O'Neill has taken up the case, Food will be provided for the other children. New York, Feb. 14.-James C. McReynolds, the government prosecutor conducting the suit against the American Tobacco Company, announced to-day that he had concluded the taking of testimony and the government rested. Counsel for the defendant corporations said that they would defer any decision on further steps to be taken until Monday, February 24.