Hancock National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 1442
Charter Number: 1442
Start Date: May 21, 1897
Location: Boston, Massachusetts (42.358, -71.060)

Metadata

Model: gpt-5-mini
Short Digest: 1ca25412

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1902-04-04
OCC cause of failure: Losses
Share of assets assessed as good: 0.0%
Share of assets assessed as doubtful: 53.8%
Share of assets assessed as worthless: 46.1%

Description

Contemporary newspaper reports (May 21, 1897) state the Hancock National Bank 'goes into liquidation' and that the Mercantile Trust Company 'takes charge of its affairs' (receiver). A later 1904 article notes the receiver remains in control to settle affairs. No article describes a depositor run; the bank was put into liquidation/receivership and remained closed.

Events (5)

1. July 15, 1865 Chartered

Source: historical_nic

2. May 20, 1897 Voluntary Liquidation

Source: historical_nic

3. May 21, 1897 Receivership

Newspaper Excerpt: BOSTON, Mass., May 21. -The Hancock national bank goes into líquidation, to-day, and the Mercantile trust company takes charge of its affairs.
Source: newspapers

4. April 4, 1902 Receivership

Source: historical_nic

5. March 12, 1904 Receivership

Newspaper Excerpt: At a special meeting today of the stockholders of the Hancock National bank ... it was voted to continue the receivership control of the affairs of the institution. Denman Blanchard ... was originally appointed receiver by the comptroller of the currency when the government took charge of the bank.
Source: newspapers

Newspaper Articles (3)

1. May 21, 1897 Las Vegas Daily Optic Las Vegas, NM

Article from Las Vegas Daily Optic, May 21, 1897

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Article Text

STILL FAILING. Prosperity Seems to Have no Effect on HardPressed Banks. NEW YORK, N. Y., May, 21. The Third national bank of this city announced, this morning, that it will go into liquidation. It has $12,000.00 of deposits and claims solitiney. It will turn over its affairs Horow City bank, which will pay deposi our The City bank has $43,000,000 in assets. LAWRENCE, N. H., May 21.-The Lake village bank follows the Belknap savings bank and suspends. WASHINGTON, D. C., May 21.The failure of the State national bank of Logansport, Indiana, yesterday, was due to the management's loaning heavily to its president. BOSTON, Mass., May 21. -The Han. cock national bank goes into líquidation, to-day, and the Mercantile trust company takes charge of its affairs. WASHINGTON, D. C.,May 21.-Act. ing comptroller of the treasury, Coffin, was notified, this morning, that the First national bank of Orleans, Nebraska, had failed.

2. May 21, 1897 El Paso Daily Herald El Paso, TX

Article from El Paso Daily Herald, May 21, 1897

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Article Text

Bank Failures. NEW YORK, May 21.-The Third National bank of this city announces this morning that it goes into liquidation. It has twelve million dollars on deposit. and claims solvency. It will turn over to the City bank which will pay the depositors. The City bank has forty-three million in assets. LAWRENCE, N. H., May 21.- The Lake Village bank follows the Belknap Savings bank and has suspended. WASHINGTON, May 21.-The failure of the State National bank of Logansport, Indiana, was due to bad management and heavy loaning to the president. BOSTON, May 21.-The Hancock National bank goes into liquidation. The Mercantile Trust company takes charge of its affairs. WASHINGTON, May 21.-Acting Comptroller of the Treasury Coffin was notified this morning that the First National bank of Orleans, Neb., had failed.

3. March 12, 1904 The Providence News Providence, RI

Article from The Providence News, March 12, 1904

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Article Text

BOSTON BANK EMBARRASSED Affairs of Hancock National Will Be Settled by Receiver. Boston, March 12.-At a special meeting today of the stockholders of the Hancock National bank of this city it was voted to continue the receivership control of the affairs of the institution. Denman Blanchard, a banker of this city, who was originally appointed receiver by the comptroller of the currency when the government took charge of the bank, was empowered by the stockholders to settle the affairs of the institution. Receiver Blanchard said that he would soon issue a statement to all concerned.