National Bank - Boston, MA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: July 14, 1905
Location: Boston, Massachusetts (42.358, -71.060)

Metadata

Model: gpt-5-mini
Short Digest: 4373b707

Response Measures

None

Description

Article reports that the National Bank of Boston is defunct and a receiver (Frank D. Allen) was appointed by the comptroller of the currency and has brought suit against directors for gross negligence and losses that led to failure. No mention of a depositor run in the excerpt, only receivership/closure by federal authority.

Events (1)

1. July 14, 1905 Receivership

Newspaper Excerpt: Receiver of Defunct Boston Bank Brings Suit. Boston, July 14.-Frank D. Allen, receiver for the defunct National Bank, of Boston, by direction of the comptroller of currency, today brought suit in the United States court against the board of directors of the bank to secure a full accounting and also that they pay to him the amount of losses which led to the failure of the institution. The bill charges the directors with gross negligence, and wasteful management, wrongful, fraudulent and conclusive conduct in the office and wilful and persistent violation of the federal statutes.
Source: newspapers

Newspaper Articles (1)

1. July 15, 1905 The Morning Astorian Astoria, OR

Article from The Morning Astorian, July 15, 1905

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Article Text

killed in the various battles with the possees. ACCUSES OFFICIALS OF "GROSS NEGLIGENCE." Receiver of Defunct Boston Bank Brings Suit. I Boston, July 14.-Frank D. Allen, receiver for the defunct National Bank, of Boston, by direction of the comptroller of currency, today brought suit in the United States court against the board of directors of the bank to secure a full accounting and also that they pay to him the amount of losses which led to the failure of the institution. The bill charges the directors with "gross negligence, and wasteful management, wrongful, fraudulent and conclusive conduct in the office and wilful and persistent violation of the federal statutes.