Powow River National Bank

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 1049
Charter Number: 1049
Start Date: July 29, 1926
Location: Amesbury, Massachusetts (42.858, -70.930)

Metadata

Model: gpt-5-mini
Short Digest: 1ee53bba

Response Measures

None

Description

A robbery of a money consignment to the Powow River National Bank (reported July 29, 1926) triggered a near-riot and crowding at the bank as factory employees feared payroll would be withheld. The bank did not suspend; the president assured depositors/payees it could meet payroll and police calmed the crowd.

Events (2)

1. April 24, 1865 Chartered

Source: historical_nic

2. July 29, 1926 Run

Cause: Local Shock
Cause Details: Robbery of a cash consignment from the Federal Reserve en route to the bank; employees feared payroll would be interrupted.
Measures: Bank president publicly announced the bank could meet payroll; police controlled the crowd.
Newspaper Excerpt: Causes Run on Bank In Amesbury the report of the robbery caused near riot about the Powow bank when employes of the Biddle & Smart Automobile Body factory stormed the institution out of fear that their weekly pay would be held up. Police the crowd until President Frank Sargent announced that the bank could meet the payroll with other resources.
Source: newspapers

Newspaper Articles (1)

1. July 30, 1926 Reading Times Reading, PA

Article from Reading Times, July 30, 1926

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Article Text

FEARS MARRIAGE BANDITS ROB TRAIN ON SHIP CLOUDS OF BANKER'S SACK HER NATIONALITY CONTAINING $65,000 British Wife of American Wed On U. S. Ship Asks Her Status of Shipping Board WASHINGTON, July 29. That serious legal complicati may grow out of the shipping board's ruling that no law exists for ship masters to perform marriages at sea was sug gested in letter received by Chairman O'Çonnor today from a woman in The writer said she was a British subject and had married an American on board an American vessel bound for the United States. The board's ruling that no authority exists for ship masters to perform said by the writer to place cloud not only on her marriage but also on her nationality She contended that in marrying an American she presumed she acquired American citizenship. Board Points to Law The California sought the opinion of the board as to whether past marriages at sea were regarded as legal by General Counsel Chauncey B. Parker, whose recent ruling specifically said that the board did not attempt to pass on the legality of marriages already performed It was indicated at the .board today that reply will be sent to the California woman saying that the board's general counsel merely held that under law masters were and that hereafter such ceremonies cannot be performed on board government -operated ships. Pass the Buck The board will express no opinion on the question of the nationality or the status of her marriage, but probably will suggest the question be taken up with the state department, which originally opened the question of sea marriages. While three agencies, the state department, department and shipping board, have held that government masters cannot perform marriages aboard ship. the attorney general has not finally ruled on the matter, nor has any request been made have the legality of marriages already performed passed upon. Carefully Planned Robbery Is Executed Quickly and Robbers Escape BOSTON July 29 carefully planned course of action. two bandits today held up two men on Boston & Maine branch train in Salisbury, selected small pouch containing 000 consigned to Amesbury bank, leaped from the moving car and escaped in a waiting automobile small army of state and local police and citizens had found no trace of the robbers tonight. The loot was money consignment from the Federal Reserve Bank in Boston the Powow River National Bank in Amesbury, designed as cash balance against which checks for several factories were to be drawn At Newburyport the money sack was placed on the small branch line train which runs six through Salisbury to Amesbury With other mail, the cash was combination baggage and smoking car, the last of the three-car Baggage Master Escapes The two robbers rode as gers from Newbury Just as the train was drawing out of the Salisbury station, they rose from their seats. drew revolvers and forced Baggagemaster William Jordan and brakeman off duty, Harry O. Babcock, into the baggage end of the car. Jordan fell or jumped from the rear platform, ran quarter of mile back to the Salisbury station and gave the alarm Keeping Babcock the two robbers found the sack, from the train and leaped after it. They sent one shot whistling after the train to frighten off pursuit. Find Many Cartridges The investigators found a large white handkerchief fastened to the fence bordering the railroad, apparently to Indicate to the robbers where to jump off. The barbed wire Reduced Prices fence at this point had been freshly cut and the tree to afford path to the nearby Rabbitt road About 50 cartridges .32 caliber were found by the tracks and scat OFFICE EQUIPMENT tered through the woods, evidently fallen from the pockets of the two men as they Neighbors reported seeing an automobile waiting on the by-road. Desks Chairs The state highway is a mile away and It was believed by the police that the robbers escaped by the route. Filing Cabinets Causes Run on Bank In Amesbury the report of the robbery caused near riot about the Powow bank when employes of the Biddle & Smart Automobile Body factory stormed the institution out of fear that their weekly pay would be held up. Police the crowd until President Frank Sargent announced that the bank could meet the payroll with other resources. older robber, who took the lead. had ridden on the train several times the baggage master said. The younger, about 20, ap. peared highly nervous, but pointed out the desired sack to his com-