7803. Millers River National Bank (Athol, MA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
708
Charter Number
708
Start Date
February 18, 1914
Location
Athol, Massachusetts (42.596, -72.227)

Metadata

Model
gpt-5-mini
Short Digest
6d334f3a

Response Measures

None

Receivership Details

Depositor recovery rate
87.7%
Date receivership started
1933-08-04
Date receivership terminated
1939-09-08
Share of assets assessed as good
26.7%
Share of assets assessed as doubtful
72.8%
Share of assets assessed as worthless
0.5%

Description

No run is described in the articles. A 1914 fire forced temporary relocation (not a banking suspension). By Dec 1933 the Millers River National Bank had a receiver (C. Edward Rowe) paying dividends to proved depositors, indicating the bank had been suspended/declared insolvent and placed in receivership (permanent closure).

Events (4)

1. January 12, 1865 Chartered
Source
historical_nic
2. February 18, 1914 Other
Newspaper Excerpt
The Athol Savings bank and the Millers River National bank found it impossible to do business in their quarters in the main building, and opened temporary quarters in the parlors of the Pequoig House, under police guard.
Source
newspapers
3. August 4, 1933 Receivership
Source
historical_nic
4. December 20, 1933 Receivership
Newspaper Excerpt
C. Edward Rowe, receiver of the Millers River 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.
Source
newspapers

Newspaper Articles (3)

Article from The Brattleboro Daily Reformer, February 19, 1914

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Article Text

BANK BUILDING BURNED. Loss of $30,000 at Athol Yesterday15 Below Zero at the Time. ATHOL, Mass., Feb. 19.-Fire which broke out about 2 o'clock yesterday morning caused a damage to the Millers River National bank block and occupants, estimated at $30,000. The blaze was confined to the annex, this was gutted by fire. The main portion of the building was greatly damaged by smoke and some water. The fire was discovered by William Nemo, an occupant of the annex who was awakened by smoke pouring into his room. He hurried to the police station and an alarm was rung. When Mr. Nemo returned to the building, he assisted Miss Anna McCormick, who had a hair dressing apartment in the block, and others to the police station. Nearly all the occupants were thinly elad. The fire, it is thought, started in the basement of the candy kitchen of Ardelos Bros. and soon worked its way up through the partitions. The firemen found it a hard blaze to fight. The mercury registered 15 degrees below zero and the firemen were soon covered with a thick coating of ice. It was not until the middle of the forenoon that the blaze was extinguished. After the fire it was found that nearly four feet of water was in the basement and the steam engine of the fire department was put to work, pumping out the water. The Athol Savings bank and the Millers River National bank found it impossible to do business in their quarters in the main building, and opened temporary quarters in the parlors of the Pequoig House, under police guard. The store of Ardelos Bros. is practically a complete loss, and the occupants of the annex saved but little of their goods, with the exception of Mr. Nemo, who through blinding smoke got the greater part of his to safety. People occupying the annex besides Mr. and Mrs. Nemo, were: Dr. William e J. Bolton, Miss Anna McCormiek, Mr. and Mrs. Henry Parker, Mrs. Jesse Gordon, Mr. and Mrs. David Perham, Dr. Bolton and Mrs. Parker were the only occupants of the annex who held insurance. The building was insured.


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.