7800. Athol National Bank (Athol, MA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
2172
Charter Number
2172
Start Date
November 23, 1933
Location
Athol, Massachusetts (42.596, -72.227)

Metadata

Model
gpt-5-mini
Short Digest
bab0c26f

Response Measures

None

Receivership Details

Depositor recovery rate
83.6%
Date receivership started
1933-08-03
Date receivership terminated
1940-08-31
Share of assets assessed as good
26.9%
Share of assets assessed as doubtful
71.2%
Share of assets assessed as worthless
1.9%

Description

Articles (Nov–Dec 1933 and Dec 1934) report the Athol National Bank in receivership: decree to sell assets, receiver Robert E. Greenwood named, and multiple dividends paid by the receiver. No article describes a depositor run. The suspension/insolvency was handled by the division of insolvent national banks and a receiver, so classified as government action leading to closure/receivership. Dividend payments in Dec 1933 and Dec 1934 are actions by the receiver, not a reopening of the bank as an operating independent bank.

Events (5)

1. August 22, 1874 Chartered
Source
historical_nic
2. August 3, 1933 Receivership
Source
historical_nic
3. November 23, 1933 Receivership
Newspaper Excerpt
ATHOL NATIONAL BANK ASSETS TO BE SOLD ... The decree made on petition filed by Greenwood ... in the federal court here today. The decree made on petition filed by Greenwood ... to proceed with the sale subject to the court's approval.
Source
newspapers
4. December 21, 1933 Other
Newspaper Excerpt
PAYMENT OF SECOND BANK DIVIDEND STARTS ... C. Edward Rowe, receiver of the Millers River National Bank, and Robert E. Greenwood, receiver of the Athol National Bank, announced ... a 25-percent dividend will be paid immediately to all depositors who have proved their claims. Payment was started at both banks tonight.
Source
newspapers
5. December 23, 1934 Other
Newspaper Excerpt
BANK $50,000 ON THIRD DIVIDEND ... Athol, Dec. 23 ... Athol National bank by Edward Rowe ... This, the third dividend paid since the bank closed, amounts to ... Rowe states that there are some 598 creditors who have failed to prove their claims.
Source
newspapers

Newspaper Articles (5)

Article from Springfield Weekly Republican, November 23, 1933

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Article Text

ATHOL NATIONAL BANK ASSETS TO BE SOLD Special Dispatch to The Boston, Nov. Robert of the Athol National was leave to $938,147 assets of the bank, consisting of free assets and securities pledged handed down Judge Elisha H. Brewster, in the federal court here today. The decree made on petition filed by Greenwood, who stated that had been to proceed with the sale by the subject to the court's approval.


Article from The Springfield Daily Republican, December 21, 1933

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Article Text

ATHOL PAYMENT OF SECOND BANK DIVIDEND STARTS About $600,000 Being Distributed to Depositors in 25 Per Cent Shares Athol, Dec. Rowe, receiver the Millers River bank, and Robert ceiver the Athol this that per cent would ately proved claims. Payment started both banks tonight. Checks cent dividend being delivered upon the surrender by positors of books in bank. The stated that this dend made the untiring effort and work the the trust, aid the treasury department, the insolvent and the Reconstruction ators David Walsh and Marcus Coolidge helpful, stated, in making this dividend possiTomorrow and Friday obtained either bank for funds Millers bank from and on Saturday from after that either Rowe's office on change street the Athol National This, the second 25 per cent dividend paid, $600,000 same the first dividend.


Article from The Springfield Daily Republican, December 21, 1933

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Article Text

ATHOL PAYMENT OF SECOND BANK DIVIDEND STARTS About $600,000 Being Distributed to Depositors in 25 Per Cent Shares Athol, Dec. Edward Rowe, ceiver Millers River National bank, and Robert receiver the Athol National bank nounced this that per cent dividend would be paid immediately depositors have proved claims. Payment started banks tonight. for being delivered surrender positors bank books either stated divimade possible this untiring effort work the employes trust, aid treasury department, insolvent national and the Reators David Walsh and Coolidge helpful, stated, making this possi- Tomorrow and Friday may be obtained at either the Nationbank funds from Millers River National bank for from and on from that either Receiver change street or the Athol bank. This, the second 25 cent dividend paid, amounts about ,the same as the first dividend.


Article from The Boston Daily Globe, December 21, 1933

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Article Text

TWO ATHOL BANKS GRANT DIVIDENDS 25 Percent Payments Are Allowed by Receivers Special Dispatch to the Globe ATHOL, Dec 20-C. Edward Rowe, receiver of the Millers River National Bank, and Robert E. Greenwood, receiver of the Athol National Bank, announced late this afternoon that a 25-percent dividend will be paid immediately to all depositors who have proved their claims. Payment was started at both banks tonight. Checks for a 25-percent dividend will be delivered upon the surrender by depositors of bankbooks in either bank. The receivers state that this divident was made possible because of the untiring effort of the employes of the banks, the aid of the Treasury Department, the division of insolvent national banks and the Reconstruction Finance Both Senators David I. Walsh and Marcus A. Coolidge were also helpful, it was stated, in making this divi- dend possible. On Friday dividends may be obtained at either the First National Bank for funds from the Millers River and at the Athol National Bank for those from that institution from 9 m to 9 P m and on Saturday from a m to 6 p m. After that payment will be made at either Receiver Rowe's office on Exchange st or at the Athol National Bank. This is the second 25-percent dividend to be paid and amounts to about $600,000, the same as the first dividend.


Article from The Springfield Daily Republican, December 24, 1934

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Article Text

ATHOL BANK $50,000 ON THIRD DIVIDEND Athol, Dec. $50,000 paid out yesterday by the Athol third idend since the ago. today other for per each. The was paid at the First National bank here. Athol, Dec. 23 Athol is one the place the committee This asked honey, letter Dana Higgins, ERA administraAthol. some locally in the housing plan. yesterday on cent dividend Athol tional bank by Edward Rowe and amounts to This go to all positors proved their claims, will which paid this closed institution, there have cent dividends paid. Rowe states that there are some 598 credifailed prove their claims, they will collect and these their claims with the bank. This dividend comes handy time for those receive spur business quite little locally.