8006. South Boston Savings Bank (Boston, MA)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
savings bank
Start Date
April 3, 1878
Location
Boston, Massachusetts (42.358, -71.060)

Metadata

Model
gpt-5-mini
Short Digest
c65cf7ad

Response Measures

None

Description

Newspaper reports (Apr 1878) state the South Boston Savings Bank was placed under the restriction of the new savings bank law because it was unable to meet depositors' demands. The articles do not describe a depositor run or a receivership/closure, only a statutory restriction, so I classify this as a suspension with implied temporary restriction (likely reopening later).

Events (1)

1. April 3, 1878 Suspension
Cause
Government Action
Cause Details
Placed under restrictions of the new savings bank law because it could not meet depositors' demands; action appears to be statutory/administrative restriction rather than voluntary closure.
Newspaper Excerpt
the South Boston Savings Bank, with deposits of $1,565,962, finding themselves unable to meet the demands of depositors, have been placed under the restriction of the new savings bank law.
Source
newspapers

Newspaper Articles (3)

Article from The Sun, February 23, 1878

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Article Text

SUNBEAMS. -The Chicago Baptist University has clared its inability to pay its debts -Julia A. Moore, the Sweet Singe Michigan," has a new incentive to write nursery rhy -Major Williamson's surveying pa have ascertained the height of Mount od, Orego be -Prince Charles of Roumania has off A prize of 1,000 Trancs for the best history of the T Roumanian war. --Patent 200,000 has just been issued: that does not represent the total number. as previo 1836 the issues were not numbered. -Archduke Rudolf, eldest son of the peror of Austria. is the handsomest crown prince . rope. He was 19 on the 21st of last August. -Messrs. Edwards and Ancorn went from New Orleans to fight duel. out took care to the police informed 50 that there could be no shoots -Beecher says in his newspaper that ' intimations of the Bible, so far as it contains any, are the departed live in close proximity to the earth, an cognizant of what is going on -Thirteen school teachers went int South Boston savings bank on their pay day. to get dollar bills changed That started the rumor of , and before night there was a run indeed -Moody is said to find the people Springfield too intellectual for easy conversion. exasperate him with cool arguments. and do not be enthusiastic. Besides, he has a tooths be -An unofficial census of the city of Pr dence. R. I., shows a population of 98,561 n failir in three years of 2,000. resulting mainly from the to sion of the various manufacturing interests. -Charles A. Harriman walked one dred miles a little less than nineteen hours, few ago. in Haverhill, Mass. The time is said to have taken by trustworthy men. and is the best on record -Mum parties are n new Massachus device for raising money for church purposes. The a tance is cents and those who talk after they must pay fifteen more. which entitles them to pl oyster soup. -A Birmingham trade report snys Spain. Mexicoand the West Indies are smenz th customers of the metallic bedstead makers The demand is very stack. Why do not Americans that trade with Mexico and the West Indies? -Milking machines have become S0 portant that the re 1. to be a competitive trial of th the Bristol show yard. nextJuly, with jude app by the Royal Agricultural Society of England Doll dairymaid. may soon find a part of her occupation -Prof. Virchow, in a recent remark discourse at Munich on the progress of general so said that there was good reason to believe that, to the immense discoveries reached in the analy light. it would soon be possible to secure colored graphs. -Notwithsta nding the pressure of times. Nilsson . now the favorite at the imperial house in St. Petersburg vice Patti The impressar managed todraw 111 andiences yielding $8,000 per Nilsson's portion 01 which sum amounts to the han sum of $2,500 -A creditor in Maysville, Ky., sougl get an hment on the ground that his debt said, I'm going to sell out and go to he thus ing a belief that be intended to quit the State. Th tice decided that the remark was no indicati a th debtor meant togo out of Kentucky -The Rev. T. Bridges of Ushuwia, T del Fuego. is actively engaged in preparing su dictionary of the Yashan the language of thate which he describesas wonderful for its complex regularity. He estimates that the work will 15,000 word> simple and compound. -An official French return shows th the close of September. 1877 there were 12,000% railway in operation in France. The corte spond tent of line in operation at the close of Septem be was 12,678 miles. At the close of March. 1877 were 18,042 miles of railway in Gerumny The stock upon this mileage was as follows: 10,412 18,427 passenger carringes. 4,607 carriages for : veyance of passengers luggage, 63,695 covered trucks. 5,205 covered horse and cattle trucks, and open trucks -Can an escaped lunatic be tried for der! is the stion raised in an Ohio court. Per sher is trial at "hillicothe for the killing of couple named M and the defence attempted the proceedings stopped on the ground that Bows an escaped lumatic that he had never been a disc from the asylan had never been declared sane the eye of the law a funatic, and could not then tried for mur ter unless his sanity was proven, den of which proof rested upon the State The show that Bowsher in fact an escaped funatic, court overrul it the motion -A balloon ascension which was to been made at Bareelor on the occasion of their n. of the King of Spain, was postponed on account wind until Feb 5. when the aeronant ascended panied by another person. who with his wife, t risk. although the wind again blew in the directic Mediterranean. They had risen but a short when they found a crowd holding the rope They strated. but in vain. and received a volley of ston ply The balloon was pulled to the earth and pieces befo the police could arrive to intert cause is assigned for the outrage -One of the latest stories about Pi is that one day while walking for excreise Ports Pia he came upon n pretty English girl, sketching attended by a maid The Intter Pope for his blessing. and carried back mess his Holiness would gladly give his handto her young English mistress Indeed. said 11 with a toss of her head, "I think my hand bette kissing than his. The Pope who had approx seen and overheard this speech, laughed but great confusion That 18 perfectly allow an old man to bless you. nevertheless -French Quakers are not numero a young man Smithe named Tureau sect, was lately conse ripted for the French : fused to do duty He was stripped of left anentire day in tent in his shirt with suffering there : donning a uniform Toward night he sought warmth by wearing diforts could make him drill He was the tialed and sent need to two years 11111 risenses obedience of orders Hisfather visited time aged him to persist in hiscourse saying that sell formerly been subjected the same -Archbishop Gibbons of Baltimor ported as expressing himself greatly pleased. choice of a Popermate by the College of Cardin dinal Percils becoud. Heanne


Article from The Wheeling Daily Register, April 9, 1878

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Article Text

Business Troubles. BOSTON, April 3.-The Wellfleet, Massachusetts, Savings Bank, with de. posits of $422,163, and the South Boston Savings Bank, with deposits of $1,565,962, finding themselves unable to meet the demands of depositors, have been placed under the restriction of the new savings bank law. PROVIDENCE, R. I., April 8.-The suspension of one of the savings bank, in Pawtucket causes so much disturbances in the minds of the depositors in other similar institutions in the village, that by the request of the trustees, the Governor has appointed a commission to examine the Franklin and Pawtucket institutions for savings.


Article from Vicksburg Weekly Herald, April 12, 1878

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Article Text

MINOR TELEGRAMS. / LONDON, April 10.-At a conference at Manchester between cotton operalives and masters of North and Northeast Lancashire, the operatives offered to submit to a five per cent. reduction of wages, but the masters refused. LONDON, ONT., ,April 10.--A discrepancy of $6,500 was recently discovered in the books of the Huron and Erie Loan and Savings Society. The Manager, L. Gibson, made the amount good, assigning his property to the Society. Mr. Gibson has been suspended from office. NEW YORK, A pril 10 -Habeas corpus proceedings in the case of ex-Gov. Mosee, of South Carolina, have been postponed until Friday next. BO&TON, April 8. - The Wellfleet, Masc., Savings Bank, deposits $422,163, and the South Boston Savings Bank, deposits amounting to $1,565,962, finding themselves unable to meet the demands of depositore, have been placed under restrictions of the new savings bank law.