8043. Brookfield Savings Bank (Brookfield, MA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
December 1, 1895*
Location
Brookfield, Massachusetts (42.214, -72.102)

Metadata

Model
gpt-5-mini
Short Digest
e627f0a2

Response Measures

None

Description

Articles report that George W. Johnson was appointed receiver and the bank 'went into a receiver's hands' in late Dec 1895 after treasurer/cashier Hiram P. Gerald disappeared and large defalcations were discovered. No run or depositor panic is described. Receiver later sought a 30% dividend for depositors (March 1896), indicating the bank remained in receivership and effectively closed rather than resuming normal operations.

Events (3)

1. December 1, 1895* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Discovery of large defalcations by treasurer/cashier Hiram P. Gerald (missing; accused of embezzling $6,000–$27,240 in various reports).
Newspaper Excerpt
The bank went into a receiver's hands a week ago with liabilities of $45,000.
Source
newspapers
2. December 31, 1895 Receivership
Newspaper Excerpt
About three weeks ago George W. Johnson, president of the bank, was appointed receiver. He instituted an investigation into the affairs of the institution, and has since discovered something wrong with Gerald's accounts.
Source
newspapers
3. March 11, 1896 Other
Newspaper Excerpt
Receiver George W. Johnson ... presented to Judge Lathrop in the supreme court his report on the condition of the bank's affairs, and asked that a dividend of 30 per cent be declared to depositors.
Source
newspapers

Newspaper Articles (10)

Article from Daily Kennebec Journal, December 31, 1895

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Article Text

Hiram P. Gerald, town clerk of Brookfield, Mass., and treasurer of the Brookfield Savings Bank, is missing, and it is believed that his accounts are short from $6000 to $10.000. The bank went into a receiver's hands, a week ago, with liabilities of $45,000. Three attachments, Monday, were recorded in Worcester against Gerald's property,one being for $20,000 by the receiver to coverthe bank's loss.


Article from The Wilmington Daily Republican, December 31, 1895

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Article Text

Cash and Cashier Missing. BROOKFIELD, Mass., Dec. 31.-Hiram P. Gerald, cashier of the Brookfield Savings bank, has disappoared. It is believed he is a defaulter to the amount of between $10,000 and $15,000, and his disappearance strengthens this belief. About three weeks ago George W. Johnson, president of the bank, was appointed receiver. He instituted an investigation into the affairs of the institution, and has since discovered something wrong with Gerald's accounts. Gerald was town clerk of Brookfield. He ran a drug store, was interested in many business enterprises and was prominentin the affairs of the town.


Article from The Citizen, January 3, 1896

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Article Text

Bank Treasurer Goes Wrong. Worcester, Mass., Jan. 1.-George W. Johnson, receiver of the Brookfield Savings bank, has issued a warrant for the arrest of Hiram F. Gerald, the treasurer of the bank, who is missing with $10,000 of the bank's funds. Gerald's downfall is due to reckless bucket-shop speculation.


Article from Vermont Phœnix, January 3, 1896

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Article Text

Brookfield's Town Clerk Missing. Hiram P. Gerald, town clerk of Brookfield, Mass., "and treasurer of the Brookfield savings bank, is missing and it is believed that his accounts are short from $6000 to $10,000. The bank went into a receiver's hands a week ago with liabilities of $45,000. Three attachments were recorded in Worcester against Gerald's property Monday, one being for $20,000 by the receiver to cover the bank's loss.


Article from The United Opinion, January 3, 1896

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Article Text

Cashier Gerald Has Skipped. BROOKFIELD, Mass., Dec. 31.-Hiram P. Gerald, cashier of the Brookfield Savings bank, has disappeared. It is believed he is a defaulter to the amount of between $10,000 and $15,000, and his disappearance strengthens this belief. About three weeks ago George W. Johnson, president of the bank, was appointed receiver. He instituted an investigation into the affairs of the institution, and soon discovered something wrong with Gerald's accounts. Attachments have been placed on his property in Brookfield, and a deputy sheriff went to Springfield and placed an attachment of $20,000 on Gerald's property in Hampden county. Gerald was town clerk of Brookfield. He ran a drug store, was interested in many business enterprises and was prominent in the affairs of the town.


Article from Spirit of the Age, January 4, 1896

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Article Text

DISCREPANCIES IN BOOKS. Bank Treasurer H. P. Gerald of Brookfield Missing. WORCESTER, Mass, Jan 3-Hiram P. Gerald, town clerk of Brookfield and treas urer of the Brookfield Savings Bank, is missing, and it is believed that his accounts are short from $6,000 to $10,000. The bank went into a receivers hands a week ago, with liabilities of $45,000. Hon. George W. Johnson of Brookfield. who was appointed receiver says that should Gerald's accounts be correct the bank will pay dollar for dollar, but an examination of about one-fourth the bank books show considerable discrepancy. Gerald started for Holland, to look, he said at a wood lot. He has not been at Holland and has not been seen since. Mrs. Gerald is prostrated. Three attachments were recorded in Worcester against Gerald's property, one being for $20,000 by receiver Johnson to cover the bank's loss.


Article from News and Citizen, January 9, 1896

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Article Text

STATE ITEMS. The U V. M. medical college will open uary 16. It is reported that the new Masonic in Barre will be the finest in the state The Brattleboro electric road has now in operation nearly six months and the cial result is more than satisfactory to company. Stowe take notice. The Vermont State Spiritualist associatio will hold its annual convention at Montnelie in Grand Army hall in Blanchard's House block Fridav. Saturday, and Sunda; January 10, 11, and 12. The annual catalogue of Middlebury for 1895-6 shows the total number of dents in the institution to be 104. 24 whom are seniors, 17 junior, 25 sophomore 35 freshmen, and three special students. The following patents have been grante to Vermonters: Samuel T. Braley, assigne to Howe Scale company. of 1886. Rutlan platform scale: Willard Philo Whitcom Montpelier, shirt damping machine. The Rutland board of trade has adopte resolutions sympathizing with the Cuban els and recommending to Vermont represen atives in Congress an effort to induce country to recognize them as beligerents. Alonzo Rand, 74 years of age. of Powna and Mrs. Caroline Bibbins. 69 years of were recently married in North Adams. The groom was for a number of years a dent of Bennington Centre, has had five before this one. This is the bride's venture in matrimony. The state Spiritualistic association is hold a three day's session in Montpelier mencing Friday, and continuing throug Sunday. J. D. Styles of Weymouth, Dr. C. A. Hadden of Newburyport, and Mary Huntoon, a materializing medium, to take part in the proceedings. St. Johnsbury is to have another thr day's poultry show the second week in ruary. Burlington was to have had winter's exhibition, but, owing to several cumstances, did not feel able to carry : project through and 80 turned it over to St. Johnsbury members of the Ve. mont try and Pet Stock association. 9 Hiram P. Gerald. town cle rk of Brookfiel a Mass., and treasurer of the Brookfield ings bank, is missing and it is believed his accounts are short from $6000 to 000. The bank went into a receiver's a week ago with liabilities of $45 000. Thr attachments were recorded in Worcest against Gerald's property Monday, one for $20.000 by the receiver to cover bank's loss. The body of Charles Buffum of Danby, mysteriously disappeared about six i ago, was found Wednesday afternoon some bushes back of what is known as Barrett shanty." Frank Paolo and I Dalto, who were hunting. were the 9 The body was found in the route which 9 man would naturally have taken on his home from work. There were no signs dlay. fouth St. Johnsbury's chief of police is now for business, having just received three mer steel cages for the police headquarter The cages are 4 feet wide, 7½ deep. and high. The floors and sides are of solid steel and the tops steel and wire riveted gether. The locks are self- acting The steads are of steel and arranged to turn against the petition when not in use. a quarters are provided with modern draina S and toilet apparatus. Regarding potato statistics the followir may be of interest.-During the year 1894 the farmers in Bristol and vicinity receive a more than $45,000 for potatoes. The S ber of car loads shipped from that statio


Article from The Portland Daily Press, March 12, 1896

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Article Text

Something Left for Depositors. Boston, March 11.-Receiver George W. Johnson, of the Brookfield Savings bank today presented to Judge Lathrop in the supreme court his report on the condition of the bank's affairs, and asked that a dividend of 30 per cent be declared to depositors. The defalcation of the treasurer, Hiram P. Gerald, is given as $27,240. There are 456 depositors' books outstanding against the bank, representing $76,700. The books of the bank were falsified and entries of payments to depositors were made. The late treasurer is now in jail awaiting trial. The amount which the receiver has on hand is $25,171.


Article from The Providence News, March 12, 1896

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Article Text

Brookfierd in shar shape, BOSTON, March 12.-Receiver Johnson of the Brookfield Savings bank yesterday presented to Judge Lathrop his report 0 the condition of the bank's affairs, am. asked that a dividend of 30 per cent be de clared to the depositors. The most deplorable fact stated in the report is that 0 the defalcation of the treasurer of th bank, Hiram P. Gerald, who absconde after the appointment of Mr. Johnson n receiver. The report states that the defalcation amounts to $24,240.


Article from Burlington Weekly Free Press, April 30, 1896

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THE WEEK'S NEWS. THURSDAY, APRIL23. Anti-McKinley men pleased with yesterday's conventions-Republican caucus at Rutland, Vt., unanimously for McKinley-Captain Sargent of the Cramp company thinks the Massachusetts a faster ship than the IndianaDedication of the Malden (Mass.) Y. M. C. A.'s new building-Murderer Colombe of New Haven sentenced to life imprisonment - Brookfield (Mass.) Savings bank depositors will get dividend of 30 per cent-Trial of Mr. and Mrs. Kilham on charge of false imprisonment of a child begun in Lynn, Mass-Receiver to turn the plant of the Denver Paper Mills company over to a new corporation-Contest over the will of the late Dr. Fred H. Hoadley at New Haven-Fallure of the American National bank of Denver-Two Chinamen held at Worcester, Mass., for as. saulting two girls-Arrival of another large batch of Italian immigrants at New York-While fighting. James Kielty was pushed in front of a train and terribly injured at Lancaster, Mass -Suit of prominent Manchester (N. H.) citizen against the electric light company of that city dismissed— Philadelphia street railway men may strike-Hon. Francis Jewett of Lowell, Mass., is dead-Paderewski has given $10,000 to establish a prize fund for American composers-The New York assembly passed the Greater New York bill over the vetoes of Mayors Strong and Wurster—Report that Lord Salisbury has rejected the proposition of the United States in the Venezuelan caseFrank C. Smith, charged with forging checks, did not appear when his case was called in Boston, because he is in a New Jersey jail. FRIDAY, APRIL 24. Bates college won the silver laurel wreath trophy in its debate with Boston university-Pennsylvania Republican convention declared for protection, reciprocity, the gold standard, and Quay -Joseph Chamberlain makes a statement that the Transvaal government is corrupt-Unterhause of the Austrian diet rejected a universal suffrage scheme -Trial of Dr. Moore postponed and jury discharged because of objectionable comments in newspapers-Indian a: propriation bill, carrying over $9,000000, passed by the senate-Admission of women as lay delegates to Methodist general conference defeated by a close vote-International arbitration conference at Washington adopted resolutions to be presented to the president, and Republicans declared for McKinley-Congressman Taylor construes the Ohio platform to mean sound money, as opposed to free coinage at 16 to 1--Ambassador Bayard unveiled a window in the Shakespeare church at Stratford, Eng— Ex-Secretary of the Navy Whitney thinks ex-Governor Russell would 11 ake a good presidential candidateMemorial to the late Jesse Seligman unveiled at New York Hebrew orphan asylum-Two men stabbed in a fight at Fall River, Mass-Two Lawrence (Mass.) mills to reduce running timeConnecticut supreme court found no error in the habeas corpus proceedings of Dr. Whitten - Child fatally poisoned by dogberries at New Haven-Big school of whales around Cape Cod— Norcross Bros. got the contract for building the Worcester (Mass.) city hall -John McKenna, who shot his wife at Franklin, Mass., sent to jail - Probability that a new cotton mill will be built at Fall River, Mass-Rev. T. J. Lee of Newark accused of plagiarism— Syndicate to buy out the Cataract General Electric company-Senator Call intends to ask the president to send ships-of-war to Cuba - Proposed scheme to stamp weather forecasts on letters will not be adopted in BostonDaniel Chester French, formerly a Boston sculptor, to erect a statue of George Washington at Paris-Will of Thomas T. Wyman of Boston, giving more than $500,000 to public institutions, to be contested by his relatives. SATURDAY, APRIL 25. Winthrop W. Crane a candidate for Republican nomination for lieutenant governor of Massachusetts-Cuban junta engaged the swift "knife craft" Howard Cassard for a blockade runner --Treasury net gold reserve stands at $125,515,371-Grand Forks National bank. Grand Forks, N. D., falledDeath of George Munroe the