8040. Bridgewater Savings Bank (Bridgewater, MA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
March 30, 1877
Location
Bridgewater, Massachusetts (41.990, -70.975)

Metadata

Model
gpt-5-mini
Short Digest
457ab9ae

Response Measures

None

Description

Newspapers report the Bridgewater Savings Bank has suspended (Mar 30, 1877) and subsequent reporting (Jan 1878) describes a receiver's investigation uncovering large forgeries/embezzlement by the treasurer; indicates the bank entered receivership and did not resume operations. OCR corrected minor spacing/typos in articles (e.g., Savinga -> Savings).

Events (2)
1. March 30, 1877 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Late cashier's bad investments left the bank involved; insolvency of cashier/treasurer led to suspension.
Newspaper Excerpt
The Bridgewater, Mass., savings bank has suspended. The late cashier made some bad investments; his estate is probably insolvent; and the bank is involved to some extent, though not largely, in the disaster.
Source
newspapers
2. January 20, 1878 Receivership
Newspaper Excerpt
investigation by the Receiver of the Bridgewater Savings Bank shows that the Treasurer, E. C. Southworth, now dead, added forgery to the other violations of his trust, and his forged notes and abstractions foot up over $80,000, exclusive of sums due depositors in the banking firm of Dunbar & Co.
Source
newspapers

Newspaper Articles (5)
1. March 30, 1877 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, March 30, 1877

Click image to open full size in new tab

Article Text

MINOR TELEGRAMS A flood is reported in the Susquehanna river at Pittston, Pa. The northwesterly gale in New York continues. The weather is clear and freezing, Chester Pike has been appointed revenue gauger for the first district of New Hampshire. House, barn and outbuildings of Chester M. Carleton in Haverhill, were burned Tuesday. Loss $3000. The Pittston, Pennsylvania, Coal Company, employing about 2500 men, is now running nearly full time. Solon Wooley of Grafton, Vt., has been found guilty of the murder of his brother Frank, in October last. Several hundred negroes made a riotous demonstration in Algiers, a suburb of New Orleans, Tuesday evening, but the disturbance was soon quelled. The Order of Hibernians are in session in New York, devising some plan to settle their difficulties with the Catholic church. James E. Burhaus, ticket agent at Pine Plains for the Poughkeepsie, Hartford & Boston railroad, has been missing since Jan. 6th. His accounts are all correct. Assistant Secretary of the Treasury Conant is to be succeeded by ex-Gov. McCormack of Arizona. Mr. Conant becomes chief agent of the Syndicate in London. W. P. Robinson, general freight agent of the Missouri, Kansas and Texas railroad, denies the rumor that the Chicago, Burlington and Quincy Company intend leasing his road. Crop reports from the interior of California are less favorable than previous advices, but reports of rain yesterday give hopes that the wheat crop in some portions may be saved. The spring freshets at Lawrence and Lowell are seriously interfering with the mills, and at Lawrence 8000 to 9000 operatives are idle. The water at Lowell is higher than it has been since 1870. The Bridgewater, Mass., savings bank has suspended. The late cashier made some bad investments; his estate is probably insolvent; and the bank is involved to some extent, though not largely, in the disaster. The Moffett whiskey bill, to collect the tax on whiskey by means of an instrument something like a car bell punch, passed the General Assembly of Virginia yesterday. It will be put up in every bar room. The tax on lager per drink is 1/2 cent, and on alcoholic liquors 21/subscript(2) cents. The opinion in Brooklyn is quite strong that teller Hall. who recently removed, and who has not been seen since last Saturday, has absconded with a large sum from the Brooklyn Bank, and that he was an accomplice of Whiting. Rev. Zebulon Phillips, formerly financial manager of the Methodist book concern, but recently of the banking firm of Phillips, Gardiner & Co.. has absconded with large amounts of money belonging to the firm which ran the knit goods factory in Amsterdam in New York.

2. January 21, 1878 Daily Globe Saint Paul, MN
Article from Daily Globe, January 21, 1878

Click image to open full size in new tab

Article Text

CRIMINAL RECORD. NEW YORK, Jan. 20.-A dispatch from Boston says that an investigation by the receiver of the Bridgewater Savings Bank, showed that the Treasurer, E. C. Southworth, now dead, added forgery to the other violations of his trust, and his forged notes and abstractions foot up over $80,000, exclusive of sums due depositors in the banking firm of Dunbar & Co. BATH, M. D., Jan 20.-The jewelry store of Simon T. Rodburg, 190 West Baltimore, was robbed last night of gold and silver watches and diamond rings valued at over $15,000. PHILADELPHIA, Jan. 20.-An establishment for the manufacture of counterfeit trade dollars at 123s Callen hill st. has been seized by secret service officers. One Cooper Witz, a notorious counterfeiter, and S. Page, were arrested. CINCINNATTI, O., Jan- 20.-Chas. H. Dimiult, deputy auditor of Clermont county, who was arrested and released some time ago on charge of robbing the safe of $4,000, has been rearrested together with a man named Sinchfield.

3. January 21, 1878 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, January 21, 1878

Click image to open full size in new tab

Article Text

ADDED PERJURY TO EMBEZZLEMENT. NEW YORK, January 20.-A dispatch from Boston says: The investigation of the Receiver of the Bridgewater Savinga Bank show that the Treasurer, E. S. Southworth, now dead, added forgery to other violations of his trust, and that the forged notes and abstractions foot up over $80,000. exclusive of the sum due the depositors in the banking firm of Dunbar & Co.

4. January 22, 1878 The Daily Intelligencer Seattle, WA
Article from The Daily Intelligencer, January 22, 1878

Click image to open full size in new tab

Article Text

Congress. Gen. Pope holds that an army, no less than a form of government, must be suited to a people, or it is sure to prove both inefficient and unsatisfactory. To say that because a system of army organization and administration has worked well in Germany, France or elsewhere, where are such wide differences both in the character and habits of the people and the nature of military service to be performed, it should therefore be adopted in this country. is no more sound than to say the same thing of po litics. BOSTON, Jan. 21-The investigation by the Receiver of the Bridgewater Savings Bank, shows that the Treasurer E. S. Southworth, now dead, added forgery to other violations of his trust, and that the forged notes and abstractions foot up over $80,00 inclusive of sums due depositors in the banking firm of Dunbar & Co. NEW YORK, Jan. 21-Arrived steamship Ailsa, from Glasgow. The three-story wooden block at Western Avenue, occupied by a number of industries, burned last night. Loss, $45,000; insurance, $15,000, mainly on buildings. WASHINGTON, Jan. 21 - The Third Assistant Postmaster, Gen. Hazen, has prepared for consideration by Congress a bill proposing an important change in the law regulating compensation of fourth class Postmasters, whose annual compensation is less than $1,000. It provides that the basis of their compensation shall be the face value of stamps cancelled in their respective offices, instead of the value of stamps sold by them. It also imposes severe penalties for making false returns and for trafficking in stamps. The present mode of adjusting salaries of Presidential Postmasters will be left substantially unchanged. The bill embodies recommendations from Postmaster General Key, in his last annual report, and will be by him transmitted to Congress at an early day. BOSTON, Jan. 20.-The report of the Bristow dinner here, as sent, accidentally omitted to state when the company was called to order, the Chairman proposed a sentiment in honor of the President of the United States, and instantly every man was on his feet, and while the band played the Star Spangled Banner, three hearty cheers were given for President Hayes.

5. January 26, 1878 Puget Sound Dispatch Seattle, WA
Article from Puget Sound Dispatch, January 26, 1878

Click image to open full size in new tab

Article Text

TELEGRAPHIC NEWS. EASTERN STATES. OMAHA, Jan. 20.-A conspiracy to ruin a number of respectable girls has been unearthed at Red Oak, Iowa, and intense excitement has been created thereby. There were in the conspiracy a dozen men, some of them being married. They were in the habit of decoys ing girls into the office rooms of hotels, etc., on pretense of passing an evening in sociable games. At last the daugh ters of a minister and lawyer were ruined. The minister's daughter, only 15 years old, was kept away from home four days and her whereabouts was only discovered after a most vigilant search. The arrest of five men followed, two of them being married. The parents are most respectable citizens and intend to push the case to the bitter end: The offenders also moved in good society. BOSTON, Jan. 20.- Investigation by the receiver of the Bridgewater Savings Bank shows that the treasurer, E. Southworth, now dead, added forgery to other violations of his trust, and that the forged notes and abstractions foot up over $80,000 inclusive of sums due depositors in the banking firm of Sunbar & Co. RICHMOND, Jan. 21.-Gov. Holliday tosday commuted to imprisonment for life the death sentence of Silas Hagerman, colored, convicted last November in Pottsylvania county of the murder of an illegitimate child of his daughter, the crime being committed to bide her shame. Hagerman was to have been hung next Friday. WASHINGTON, Jan. 20.-The following postoffices have been established: Pysht Clallam county, W. T., D. F. Brownfield, postmaster. Postmasters appointed-J. M. Bloomfield, Kalama, Cowlitz county, W. T.; Andrew G. McCause Pathea, Columbia county, W. T.; Jas. P. Comeford, Tulalip, Snohomish Co., W.T. Senator Mitchell today introduced a bill appropriating $125,000 to enable the United States coast survey to establish a station for the purpose of making tidal observations at Astoria. At a meeting of the senate railroad committee to-day Senator Grover made an argument earnestly supporting Mitchell's provisions in aid of the construction of a railroad from Oregon to Salt Lake City. He said the people of Oregon would not lay a straw in the way of extending the time for the completion of the N. P. Railroad, but they thought they should have something to say concerning railroad legislation for the northwest. They were deeply interested in the Salt Lake and Portland Railroad project, because it would bring them more speedily in connection with existing roads. He also showed that the land grant proposed for this project would not exceed the number of acres, about 5,000,000, which the N. P. Co. proposes voluntarily to relinquish by change of route. Col. Chapman of Oregon was also heard in advocacy of Mitchell's bill. Williams was not present. Admiral Rogers, at the suggestion of Secretary Thompson, has prepared and sent to President Hayes a very interesting paper on the Chinese question. The admiral bases his remarks upon personal observation, study and investigation made by him during his long residence in California, and takes the ground that Mongolian immigration should be checked and that it can be checked by congressional legislation. The senate committee on foreign relations has requested Senator Sargent to be present at their meeting to-morrow when Mr. Wiiliams, late secretary of legation in China. will be heard on the Chinese question. Williams is to appear at the suggestion of the 804 called Chinese lobby, which is powerful and well organized here. DEADWOOD, D. T, Jan. 21.--Sheriff Moulton arrived from Rapid City today with the following account of the Indian troubles in that vicinity. At noon on the 20th, a bend of Indians attacked a freight train on the Sidney route, six miles from Rapid City. One of the freighters was shot through the back and had his arm broken, and two mules were killed. CHICAGO, Jan. 22.-The Times' Washington special says: One of the most modest bills of the present session was introduced to-day asking government aid to the extent of $50,000,000, to build a railroad from the Atlantic to the Pacific via Indianapolis, Chicago and Omaha. It has sixty pages and serves to make the generality of the Pacific bills appear ridiculous. Buckner, of the banking committee, stated this evening that he was confident the silver bill would eventually pass the senate by more than a twothirds majority.