Globe National Bank - Boston, MA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 936
Charter Number: 936
Start Date: March 13, 1896
Location: Boston, Massachusetts (42.358, -71.060)

Metadata

Model: gpt-5-mini
Short Digest: 0453ef3b

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1899-12-21
Date receivership terminated: 1903-02-25
OCC cause of failure: Fraud
Share of assets assessed as good: 38.1%
Share of assets assessed as doubtful: 46.1%
Share of assets assessed as worthless: 15.8%

Description

Articles (published Mar 13 and Mar 20, 1896) report creditors' petition alleging insolvency and appointment/confirmation of receivers for the Globe National Bank of Boston. No mention of a depositor run or temporary suspension; receivers were appointed and reorganization/closure proceedings followed, so classified as suspension leading to closure/receivership.

Events (4)

1. March 25, 1865 Chartered

Source: historical_nic

2. March 13, 1896 Receivership

Newspaper Excerpt: the Globe National Bank of Boston, creditors, for $10,000, asking for & receiver on the ground that the company is insolvent ... Judge Knowles appointed John F. Forbis ... and Captain Thomas Couch, receivers. The receivers will take possession of the property at once, and reorganization will be proceeded with.
Source: newspapers

3. March 20, 1896 Receivership

Newspaper Excerpt: The order made by Judge Knowles ... appointing John F. Forbis and Thomas Couch receivers for the Butte & Boston was on Tuesday confirmed in open court in Helena. ... Charles R. Leonard appeared for the Globe National bank of Boston ... The orders in both cases were similar.
Source: newspapers

4. December 21, 1899 Receivership

Source: historical_nic

Newspaper Articles (3)

1. March 13, 1896 Deseret Evening News Salt Lake City, UT

Article from Deseret Evening News, March 13, 1896

Click image to open full size in new tab

Article Text

the Globe National Bank of Boston, creditars, for $10,000, asking for & recelver on the ground that the company is insolvent and It was necessary to protect all interests. Judge Knowles appointed John F. Forbis, of Butte, and Captain Thomas Couch, receivers. Fortis 1a the Butte attorney of the company and Couch is manager, BR well as manager of the Beston and Montana. The receivers will take possession of the property at once, and reorganization will be proceeded with.

2. March 13, 1896 Deseret Evening News Salt Lake City, UT

Click image to open full size in new tab

Article Text

the Globe National Bank of Boston, creditars, for $10,000, naking for & receiver on the ground that the company is insolvent and It was necessary to protect all interests. Judge Knowles appointed John F. Forbis, of Butte, and Captain Thomas Couch, receivers. Fortis 18 the Butte attorney of the company and Couch is manager, BB well as manager of the Beston and Montana. The receivers will take possession of the property at once, and reorganization will be proceeded with.

3. March 20, 1896 The Anaconda Standard Anaconda, MT

Article from The Anaconda Standard, March 20, 1896

Click image to open full size in new tab

Article Text

Receivers Confirmed. The order made by Judge Knowles in chambers at Missoula last week appointing John F. Forbis and Thomas Couch receivers for the Butte & Boston was on Tuesday confirmed in open court in Helena. The receivers filed each a bond of $25,000 with James H. Lynch and Hugh I. Wilson as sureties. The bonds were approved at formal proceeding in Helena. Charles R. Leonard appeared for the Globe National bank of Boston and Moses Weinmann of New York for the Massachusetts Loan & Trust company. The orders in both cases were similar.