Banks of Boston - Boston, MA

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: March 11, 1933
Location: Boston, Massachusetts (42.358, -71.060)

Metadata

Model: gpt-5-mini
Short Digest: e49c742a

Response Measures

None

Description

Article (Mar 11–12, 1933) describes the general Boston bank holiday and banks operating under holiday banking restrictions with plans to resume business next week. No individual bank run is described. 'Banks of Boston' is plural and non‑specific, so bank identity is uncertain.

Events (2)

1. March 11, 1933 Suspension

Cause: Government Action
Cause Details: Banks were closed under holiday banking restrictions/proclamations (bank holiday) in March 1933.
Newspaper Excerpt: Banks of Boston, still functioning under the holiday banking restrictions, today received thousands of checks dated during and prior to the proclamations relative to the suspension of business by all banks.
Source: newspapers

2. * Reopening

Newspaper Excerpt: The Federal Reserve Bank of Boston received hundreds of applications ... seeking licenses to open and resume business. It was expected that non-member banks would be permitted to draw money ... before the opening of some banks for regular business next week.
Source: newspapers

Newspaper Articles (1)

1. March 12, 1933 Evening Star Washington, DC

Article from Evening Star, March 12, 1933

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Article Text

BOSTON BANKS GET FLOOD OF CHECKS Thousands Dated During and Prior to Holiday Proclamations Are Received. By the Associated Press. BOSTON, March 11.-Banks of Boston, still functioning under the holiday banking restrictions, today received thousands of checks dated during and prior to the proclamations relative to the suspension of business by all banks. Acting under a notice issued by the Boston Clearing House Association, the banks undertook to clear up much of the work entailed in handling the checks in an effort to have as much as possible of it accomplished before the opening of some banks for regular business next week. The Federal Reserve Bank of Boston received hundreds of applications from banks in the first Federal Reserve district (New England) seeking licenses to open and resume business. Also many non-member banks have expressed a desire to join the reserve system. It was expected that non-member banks would be permitted to draw money through member banks by posting proper security. Boston banks continued the release of pay rolls and necessities-of-life funds in small amounts. The Federal Reserve Bank announced yesterday's receipts as $1,272,659 in gold coins and $849,060 in gold certificates.