7855. Charlestown Trust Company (Boston, MA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
December 21, 1931
Location
Boston, Massachusetts (42.358, -71.060)

Metadata

Model
gpt-5-mini
Short Digest
9c58cf86

Response Measures

None

Description

OCR errors in Article 1 corrected. Newspapers report Charlestown Trust Company failed (Dec 21, 1931) and was taken over by the State (Dec 22, 1931). No mention of depositor run; action appears to be a government takeover/receivership leading to permanent closure.

Events (2)

1. December 21, 1931 Suspension
Cause
Government Action
Cause Details
Bank failed and was taken into custody/taken over by state authorities; failure reported by newspapers on Dec 21, 1931.
Newspaper Excerpt
Boston, Dec. 21 Charlestown Trust company failed today
Source
newspapers
2. December 22, 1931 Receivership
Newspaper Excerpt
Charlestown Trust Taken Over BOSTON, Dec. the request the board of directhe Charlestown Trust Company with deposits of today was taken over the State.
Source
newspapers

Newspaper Articles (2)

Article from The Washington Herald, December 22, 1931

Click image to open full size in new tab

Article Text

Charlestown Trust Taken Over BOSTON, Dec. the request the board of directhe Charlestown Trust Company with deposits of today was taken over the State.


Article from Omaha World-Herald, December 22, 1931

Click image to open full size in new tab

Article Text

Grain Indemnities Chicago, Dec. Closing quota- Bank Suspensions. Boston, Dec. 21 Charlestown Trust company failed today The statement to the as of December 1930. listed total deposits of $3,436,388 Offers. May GOOD THIS WEEK Ma NEXT WEEK $