7904. Freeman's Bank (Boston, MA)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
November 12, 1872
Location
Boston, Massachusetts (42.358, -71.060)

Metadata

Model
gpt-5-mini
Short Digest
7f6b80a0

Response Measures

None

Description

Freeman's Bank temporarily suspended payments because its vault/notes were damaged in the Boston fire (Nov 1872). The bank resumed business the same day (reported Nov 12, 1872). No run is described.

Events (2)

1. November 12, 1872 Reopening
Newspaper Excerpt
Freemans Bank resumed business at noon to-day.
Source
newspapers
2. November 12, 1872 Suspension
Cause Details
Vault broken and bank notes destroyed in the Boston fire, causing a temporary suspension of payments
Newspaper Excerpt
The bonds, gold and money of this bank was found in the safe all right, but the notes destroyed. This causes temporary suspension
Source
newspapers

Newspaper Articles (2)

Article from Daily Kennebec Journal, November 13, 1872

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Article Text

NEWS BY MAIL. here are over two million dollars worth of churches building in New York. Fifty houses were burned by the patriot forces in Cuba the other day in attacking an inland town Rev. H. W. Beecher discoursed Sunday evening upon the Boston fire. He said that it was folly for any one to assert that either this fire or that at Chicago was a judgment upon any class of the inhabitants of those cities. Charlestown, S. C., has been free from yellow fever this season, not one death from that disease having occurred. The Old South Church has been utilized by turning it into a resting place for tired t. oops. The effects of the fire have extended to the hotels, as well as to almost every other branch of business. The number of boarders at the principal establishments of the kind has largely increased since Sunday, so that at the present time there is but little room for strangers. The savings banks of Boston are all safe. Their losses by the fire are very small indeed compared with their me ans. The visiting firemen came to Boston for work, says the Transcript. They had no holiday attire, but engines, officers and men never before looked so splendid as on this memorable occasion. The first official aid tendered to Boston was from Chicago. Her people gratefully remembered the generosity of Boston at the time of their own great calamity. The light of the great contigration on Saturday night was distinctly visible and attracted the attention of people resident sixty miles from Boston along the eastern coast, and al80 seventy miles in the interior country. It seems that in Virginia the straigh-out democrats received five votes in Richmond, five in Norfolk and twelve in Portsmouth. The Richmond Enquirer fears that Mr. O'Conor runs behind his ticket in Virginia. The only national banks in Boston that did not settle at the Clearing House, Monday, were the Bank of North American, vault under the ruins; Shawmut Bank, vault under the ruins, and Freeman's Bank, vault broken


Article from Daily Kennebec Journal, November 13, 1872

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Article Text

in Boston Attempts of Incendiaries to Fire the City. An Extra Session of the Legisiature Ordered by the Governor. Boston, 12. There is no feeling of despondency, but a disposition is everywhere manifested by our business men to meet their reverses manfully and conquer them. At a meeting of the shoe and leather association to-day, John Cumming, President, a committee was appointed to secure from the city government the Fort Hill property now vacant of buildings, on which to erect wholesale stores and resume business. At meeting of the citizens aid committee to-day, Wm. Gray, chairman. read with great emotion a dispatch from Worth Dexter of Chicago, chairman of the relief association of that city, stating that they had appropriated $100,000 for the relief of Boston and tendering their deepest sympathy under the remembrance of favors tendered to them in their season of calamity. It was received with prolonged applause. Laird Collyer of Chicago telegraphed that a relief committee from that city was on its way to Boston. Gov. Perham of Maine was presented, and tendered the sympathy of his State, with offers of aid from its citizens. Thousands of other cheering reports were received. Naylor & Co. of Liverpool has sent a check for 85000 through their Boston house. Jordan. Marsh & Co. donate $10,000 through Chief Damrell for the benefit of the firemen. is It is understood that Posstmaster Burt endeavoring to make some arrangement with the trustrees of the Old South Church to ob in tain it for a postoffice, until the new office Devonshire street is completed. out Many of the dry goods houses burned have already opened in new quarters. Among them Ordway, Blodgett & Co., who pay tull, and open with new stock at once. The work of opening passes through streets of burnt district was renewed to-day, or at least 1000 laborers being engaged. Nearly all the fire engines have been withdrawn, except those employed in cooling the ruins, beneath which sates are buried, which are being dug out all over the reigon swept by the flames. Safes of the Hope Insurance Co and heirs of the Simmons estate have been opened and their contents found in good condition. Exploring parties are at work in various localities, clearing away ruins and searching for the bodies of missing firemen. Hook & Ladder Company No. 4, are looking for the body of their assistant foreman who disappeared Sunday morning, and a gang of men are at work among the ruins of Weeks & Potter's store in search of the bodies of men supposed to be buried there. The insurance companiesat a meeting to day, appointed a committee to wait on governor and request him to call an extra session of the legislature with a view of preserving their charters, keeping the insurance business at home. A meeting of the citizens of Boston at Tre mont Temple is called at noon to-morrow. Freemans Bank resumed business at noon to-day. The follow ing official statement regarding banks was for W arded to-day. Boston, Nov. 12. Hon. Geo. S. Boutwell, Sec'y Treas. Washington Seven national banks were burned out by the fire. All have recovered their cash assets. and will immediately resome business. I have met the Presidents of the leading banks to-day. All agree that the total loss will not exceed one-half of their surplus of $12,000,000. An excellent feeling prevails. (signed) John J. Knox, Comptroller of Currency All is quiet to-night. Strong millitary patrol guard all approaches to the hurnt dis. triet. The city is still in darkness, the gas not having been let on. The weather is thick and raining. The only bank that failed to settle at the clearing house to-day was the Freemans. The bonds, gold and money of this bank was found in the safe all right, but the notes destroyed. This causes temporary suspension, but the bank will undoubtedly soon resume business The Boston mutual insurance companies in full, and the average will reach 50 per cent. on risks, as previously announced. Considerable rain fell during last night, with clearing up indication this foremoon. The night passed quietly. The theatres were all closed. Strong millitary patrol is continued to-day. Fears are entertained that 6 persons lost their lives by the falling walls of Weeks Search & Potter's drug store Sunday forenoon. will be made for their remains to-day. The Boston Jounnal escaped burning, and its though the office was badly demoralized regular editions have been published. The fact that incendiaries are about is manifest by attempts made last night to fire sta bles at the North End, and on Foster and The Dadley streets in Boston Highlands. incendiaries tore off slabs in the rear of a stable, stuffed hay between the slabs and ceiling and set it on fire. Fortunately the fire was discovered before it had made much headway, and extinguished. Another incentire in the rear of a dwelling house at diary 27 Conant street was extinguished with little damage. Early this morning Wm. Tully arrested suspicion of being one of a party attempton ing to fire a building near the Daily Globe on Devonshire street. Last evening several men and boys were discovered piling wood against wooden dwelling houses on Prince street, and had kindled fire, when the police arrived and arrested several of the ruffains. noon to-day all bar-rooms were closed by order of the mayor. The military guard formed around the burnt district has been increased, and no person is allowed to pass without a permit. A preliminary meeting of insurance adjustof the leading American and English companies ere was held at the Revere House this evening. The meeting was organized by the choice of E. .1. Bassett of Etna of Hartford, chairman, H. E. Bowers, secretary. Thirtysix companies were represented. No definite action was taken. It was proposed to appoint committees to settle all the various classes of risks. The meeting adjourned subject to the call of the chairman. At meeting of the Governor and Coucil, this afternoon, an extra session of the legislature was ordered to commence next Tuesday. FROM WASHINGTON.