Cochituate Bank - Boston, MA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: July 3, 1860
Location: Boston, Massachusetts (42.358, -71.060)

Metadata

Model: gpt-5-mini
Short Digest: 3f6dd96f

Response Measures

None

Description

Article (NY Tribune, 1860-07-09) states the receivers of the Cochituate Bank, Boston, petitioned the court because receivers had not realized sufficient funds to pay liabilities and sought authority to assess stockholders 20%. This indicates the bank was in receivership (permanent closure) rather than a mere run; no run is reported in the text.

Events (1)

1. July 3, 1860 Receivership

Newspaper Excerpt: The receivers of the Cochituate Bank, Boston, not having realized sufficient funds to pay off in full the liabilities of the Bank, have petitioned the Court for authority to assess the stock holders to the extent of 20 per cent.
Source: newspapers

Newspaper Articles (1)

1. July 9, 1860 New-York Daily Tribune New York, NY

Article from New-York Daily Tribune, July 9, 1860

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Article Text

$4,251,890 Increase as compared with 1859 The annexed extract is from a letter received from the Superintendant of the Silver-Hill Mine: SILVER-HILL MINE, July 3, 1860. SIDNEY ASHMORE-Dear Sir: Since my last, the vein in the 300 feet level south hasimproved handsomely, and yielding very excellent ore. All the stopes look much the same, and in the winze are improving. In two weeks from this time the shafts will be deep enough to commence dritting. I think it will take about a month more to hole the winze to the 300 feet level. After the winze is holed, the shafts down, and the 350 feet levels started, the old mine will show a much better face than she has done for a long time. I am pleased to tell you that I have had .WO men opening the quartz vein in wood, this looks very well de fined, and has two good wails; the vein is 8 feet, and contains some gold on the top, although I expect to find copper in a very few feet below the surface. Tae receivers of the Cochituate Bank, Boston, not having realized sufficient funds to pay off in fall the liabilities of the Bank, have petitioned the Court for authority to assess the stock holders to the extent of 20 P cent. The Philadelphia Ledger of to-day gives the following' statement of the Anthracite Coal trade for the week and season: "The aggregate tunnage of the companies from which we have returns, estimating the tunnage.by the two New-York companies for the last week, from which we have no report, is about three and a half millions of tuns for the season, only half a year-an increase of about half a million tuns on the tunnage to the same time last year. Last week's operations were in some measure interrupted by the festivities attendant on the celebration of the 4th. The business is in a healthy condition; the demand for coal 18 good, and prices are firm. "The following abstract of company reports shows the coal tunnage for the week and season, as compared with last season to the same dates: Last