7835. Boston Banking Company (Boston, MA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
September 24, 1910
Location
Boston, Massachusetts (42.358, -71.060)

Metadata

Model
gpt-5-mini
Short Digest
82dc8a42

Response Measures

None

Description

No run or depositor panic is described. The bank was restrained from doing business by court injunction after a petition by the Bank Commissioner and a receiver was appointed; the institution was closed for liquidation. Known as the Day and Night Bank; organizer Thomas D. Taylor is mentioned. Dates taken from articles (temporary injunction Sept 24, 1910; receiver appointment reported Sept 28, 1910).

Events (3)
1. September 24, 1910 Suspension
Cause
Government Action
Cause Details
Petition filed by Bank Commissioner Chapin in Supreme Judicial Court asking appointment of a receiver; court injunction ordered stopping business.
Newspaper Excerpt
Judge Sheldon issued a temporary injunction restraining the company from doing business.
Source
newspapers
2. September 26, 1910 Other
Newspaper Excerpt
Bank closed for liquidation on the door of the Day and Night Bank ... the notice announcing the closing of the bank follows a petition for a receiver ... the Boston Banking Company ... assets and liabilities are about even.
Source
newspapers
3. September 28, 1910 Receivership
Newspaper Excerpt
The injunction closing the Boston Banking Co., was made permanent Tuesday by agreement and Charles K. Cobb was appointed receiver by Judge Rugg of the supreme court with a bond of $20,000.
Source
newspapers

Newspaper Articles (4)
1. September 25, 1910 The Sun New York, NY
Article from The Sun, September 25, 1910

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Article Text

BOSTON BANKING co. CLOSED. One of the T. D. Taylor Institutions Ordered to Stop Business. BOSTON, Sept. 24-A petition asking for the appointment of a receiver for the Boston Banking Company of this city was filed in the Supreme Judicial Court this morning by Bank Commissioner Chapin through the office of AttorneyGeneral Malone. Judge Sheldon issued a temporary injunction restraining the company from doing business. The condition of the company at the close of business on September 23 was. Resources-Notes and bills discounted. $23,307: stocks, $4,000; furniture and fixtures. $4.525: expenses. $1,428; cash on hand and in bank, $480; savings department. $2,532. Total. $38,274. Liabilities-Capital stock. $10,000; undivided profits. $8,377; deposits subject to check. $10,576; certificates of deposit. $4,637; treasurer's checks. $150; teller's overs, 10 cents; savings department. $2,532. Total. $36,274. The concern was also known as the Day and Night Bank. It was organized along with a number of other similar institutions a few years ago by Thomas D. Taylor. who was at one time known as a "Napoleon of finance." He had a banking system by which these concerns worked with collateral loan companies which he also owned. It was charged in Providence that he wrecked the New England Trust Company of that city and that deposite of more than $300,000 were diverted. The wreck of the Providence concern was complete and Taylor spent a year and a half in jail before a settlement was made with his creditors. He was said to have withdrawn from the Boston Banking Company. but one of his brothers was in charge of the place.

2. September 28, 1910 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, September 28, 1910

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Article Text

CONDENSED DISPATCHES. Fancy lumber to the value of $125,000 was destroyed by fire early Tuesday in the yard of the Parker & Palmer Lumber Co. in Charlestown, Mass. The loss is covered by insurance. The flames started in the drying room, from whence it spread to the piles in the yard, where it was checked after two alarms had been turned in. American orchards contributed 2.500,000 barrels of apples for European consumption by the Ivernia Tuesday. the largest shipment of the year. The demand abroad for apples is continually increasing according to local shippers and this being an "on" year in New England, it is expected that all previous deliveries will be exceeded. As Captain Hardy of the steamer Richard Peck, bound in from New I York, was bringing his vessel up the : New Haven, Conn., harbor Monday night, he discovered that the lighthouse on the end of Long wharf was dark. When he had made a landing 8 he telephoned to the home of the light ) keeper. Thomas F. Wilson, giving notice of that fact. His message led to an investigation and the body of the keeper was found by his son and brother lying face downward on the platform under the light with a pool $ of blood about his face. According to the medical examiner, Wilson was stricken with heart failure and suffered a hemorrhage also, apparently just as he was about to light the big red beacon. The injunction closing the Boston Banking Co., was made permanent Tuesday by agreement and Charles K. Cobb was appointed receiver by Judge Rugg of the supreme court with a bond of $20,000. The affairs of the 1 company will be closed up as soon as 1 possible. The company went to Boston from Rhode Island in 1903 and for some months ran what was known : as a Day and Night Bank. Subse: quently the president and organizer. Thomas B. Taylor. became involved in ) difficulties in Rhode Island and spent e a year and a half in jail for want of a heavy bail bond. A recent act of Legislature compelled the Boston Banking Co. to either organize under Massachusetts laws or stop business and the officers decided on the latter course. It is expected that the affairs of the institution will be settled in a few months.

3. September 28, 1910 Orleans County Monitor Barton, VT
Article from Orleans County Monitor, September 28, 1910

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Article Text

PETITION FOR RECEIVER Followed by Closing of Day and Night Bank at Boston Boston, Sept. 26.-A typewritten slip of paper, bearing the sentence, "Bank closed for liquidation" on the door of the Day and Night Bank on the second floor of the Rogers building marks the latest developments in the career of the Boston Banking company. The notice announcing the closing of the bank follows a petition for a receiver for the Boston Banking company, filed in the supreme judical court by Bank Commissioner Chapin, and the issuance of a temporary injunction restraining the company from doing business. The Boston Banking Company (The Day and Night Bank,) which traveled a rough road in the financial world, has done a small business. Its assets and liabilities are about even.

4. September 30, 1910 The United Opinion Bradford, VT
Article from The United Opinion, September 30, 1910

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Article Text

PETITION FOR RECEIVER Followed by Closing of Day and Night Bank at Boston Boston, Sept. 26.-A typewritten slip of paper, bearing the sentence, "Bank closed for liquidation" on the door of the Day and Night Bank on the second floor of the Rogers building marks the latest developments in the career of the Boston Banking company. The notice announcing the closing of the bank follows a petition for a receiver for the Boston Banking company, filed in the supreme judical court by Bank Commissioner Chapin, and the issuance of a temporary injunction restraining the company from doing business. The Boston Banking Company (The Day and Night Bank,) which traveled a rough road in the financial world, has done a small business. Its assets and liabilities are about even.