Beverly Savings Bank - Beverly, MA

Bank Information

Episode Type: Run Only
Bank Type: savings bank
Start Date: December 11, 1908
Location: Beverly, Massachusetts (42.558, -70.880)

Metadata

Model: gpt-5-mini
Short Digest: ec7c4b7a

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

Article (1908-12-11) reports a teller's defalcation of $9,300 and attempted suicide; a small run occurred the same day but the directors stated the bank was solvent and could meet demands. No suspension or closure mentioned.

Events (1)

1. December 11, 1908 Run

Cause: Bank Specific Adverse Info
Cause Details: Teller Albert S. Hoogs defaulted/embezzled $9,300; exposure triggered depositor withdrawals.
Measures: Directors issued a public statement declaring the bank solvent and able to meet demands.
Newspaper Excerpt: There was only a small run on the institution. The directors issued a statement saying that the bank is solvent and able to meet its demands.
Source: newspapers

Newspaper Articles (1)

1. December 11, 1908 The Barre Daily Times Barre, VT

Article from The Barre Daily Times, December 11, 1908

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Article Text

TOOK POISON WHEN EXPOSED Bank Teller in Beverly, Mass. is Still Alive HE DEFAULTED FOR $9,300 Albert S. Hoogs Was Worked Over by Doctors All Night Long-There Was a Small Run on the Bank To-day. Beverly, Mass., Dec. 11.-A defaulter to the extent of $9,300 from the Beverly Savings bank, in which institution he was teller, Albert S. Hoogs is today hovering between life and death having taken poison when his exposure was sure. President Endicott stated today that physicians had been working over the man all night. There is great excitement as the town had a big sum in the bank. There was only a small run on the institution. The directors issued a statement saying that the bank is solvent and able to meet its demands.