Mount Vernon National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 716
Charter Number: 716
Start Date: October 2, 1905
Location: Boston, Massachusetts (42.358, -71.060)

Metadata

Model: gpt-5-mini
Short Digest: 760065d6

Response Measures

None

Description

Article (Durango Semi-Weekly Herald, 1905-10-02) reports the Mount Vernon National Bank of Boston had quit business and that a receiver (Stevick) sold securities. No run or depositor panic is mentioned; the bank is in receivership/closed. The reference to Imboden banks suggests bank-specific problems. Event date taken as the newspaper date (1905-10-02) because no other date is given.

Events (4)

1. January 13, 1865 Chartered

Source: historical_nic

2. October 2, 1905 Receivership

Newspaper Excerpt: Receiver Stevick sold the securities for $75,000, thus realizing a larger amount than he probably otherwise would should he have waited until the present time.
Source: newspapers

3. October 2, 1905 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank had quit business and is described as one of the 'Imboden banks' (suggesting bank-specific insolvency/problems); receiver appointed and securities sold.
Newspaper Excerpt: Word was received in Denver Wednesday that the Mount Vernon National bank of Boston had quit business.
Source: newspapers

4. October 24, 1905 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. October 2, 1905 Durango Semi-Weekly Herald Durango, CO

Article from Durango Semi-Weekly Herald, October 2, 1905

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Article Text

I Acting upon complaint made to ) him District Attorney Sellg of Montrose county has instructed the sheriff of that county to suppress gambling. The Denver stock yards are enjoying an unprecedented prosperity. Cattle that yesterday sold for $3.25 at Missouri river points today brought $3.70 in the Denver market. A New York judge declares that the families of criminals can not be taken into account in fixing sentence, and orders James P. Hennessy, who robbed the D. Percy Morgan estate, sent up for seven years. The New York anti-Tammany conference failed to agree on a candidate for mayor and the Citizens' union threatens to bolt the fusion move ment if the Republicans insist on supporting John Ford. Colorado leads the states in production of gold. with $24,395,800, according to the report of the director of the mint for 1904. California is second with $19,109,600. The production of silver for 1904 was 14,331,600 ounces fine. Word was received in Denver Wednesday that the Mount Vernon Na. 1 tional bank of Boston had quit business. This is one of the Imboden banks and had borrowed $100,000 from the Denver Savings bank, but day before yesterday Receiver Stevick sold the securities for $75,000, thus realizing a larger amount than be probably otherwise would should he have waited until the present time. The Pueblo police are investigating agents for standard publications who are taking orders at greatly reduced rates of subscription. Several have $ been arrested on suspicion, the latest 0 arrest being that of John F. Ryan. e who Is offering eastern magazines at half their subscription rates. Ryan 1 failed to produce credentials and was V giving receipts out of an ordinary blank book. I ( The Windsor sugar factory commenced slicing beets Wednesday. The P crop will keep the factory going until t about 65,000 tons of beets will be handled. The pulp from the factory f has been contracted for by the sheep and cattle feeders. The factory starts with about 300 men and already has several days' supply of beets on hand. All the farmers are digging beets.