8044. Brookfield Savings Bank (Brookfield, MA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
May 27, 1897
Location
Brookfield, Massachusetts (42.214, -72.102)

Metadata

Model
gpt-5-mini
Short Digest
f7560fda

Response Measures

None

Description

Articles describe the Brookfield Savings Bank as insolvent with a receiver (George T. Johnson) pursuing the treasurer Hiram P. Gerald for embezzled funds; final dividend being paid in 1898. No run is described — the bank failed and was in receivership/closure due to embezzlement/insolvency.

Events (2)

1. May 27, 1897 Receivership
Newspaper Excerpt
The jury in the case of George T. Johnson of Brookfield, receiver of the Brookfield Savings bank, against Hiram P. Gerald and his bondsmen have returned a verdict for the plaintiff in the superior civil court.
Source
newspapers
2. February 21, 1898 Other
Newspaper Excerpt
Mr. Johnson is also receiver for the defunct Brookfield Savings Bank. He says the final settlement of the bank affairs is delayed ... The final dividend will be from 24 to 25 per cent, and will be paid as soon as allowable.
Source
newspapers

Newspaper Articles (3)

Article from Evening Journal, May 27, 1897

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Article Text

Bondsmen Must Pay. Worcester, Mass., May 27.-The jury in the case of George T. Johnson of Brookfield, receiver of the Brookfield Savings bank, against Hiram P. Gerald and his bondsmen have returned a verdict for the plaintiff in the superior civil court. This suit was brought by the receiver of the bank to recover on the surety of the former treasurer of the bank, Gerald, who is serving a sentence in state prison for embezzlement of the funds of the institution. The defendant claimed that the bond was never properly delivered to the trustees of the bank, and it appeared in evidence that it was found back of a bottle in the defaulter's drug store.


Article from The Evening Tribune, May 27, 1897

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Article Text

Judgment Against Bondsmen. Worcester, Mass., May 27.-The jury in the case of George T. Johnson of Brookfield. receiver of the Brookfield Savings bank, against Hiram P. Gerald and his bondsmen, has returned a verdict for the plaintiff. This suit was brought by the receiver of the bank to recover on the surety of the former treasurer of the bank, Gerald, who is serving a sentence in state prison for embezzlement of the funds of the institution. The defendant claimed that the bond was never properly delivered to the trustees of the bank, and it appeared in evidence that it was found back of a bottle in the defaulter's drug store.


Article from Worcester Morning Daily Spy, February 22, 1898

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Article Text

THE H. P. GERALD ESTATE. What Assignee Johnson Says About the Matter. Brookfield, Feb. 21.-Hon. George W. Johnson, assignee for the insolvent estate of Hiram P. Gerald, says as soon as the dividend sheet comes, he will pay the second and final dividend of $189, which is three-tenths per cent. Mr. Johnson is also receiver for the defunct Brookfield Savings Bank. He says the final settlement of the bank affairs is delayed to ascertain the value of a small claim in the hands of Lawyer Gardner of Springfield. The final dividend will be from 24 to 25 per cent, and will be paid as soon as allowable. AT MOULTON'S FACTORY. Fourteen upper leather cutters went to work at C. H. Moulton's factory, this morning. One thousand pairs of samples are to be cut. The sole leather department go to work Wednesday and the other departments will go to work in order as the work comes. THE NEWTON ESTATE. The three administrators of the Newton estate will meet at the house, at Rice corner, tomorrow, and will post bills for an auction to be held Saturday, when the cattle, horse and poultry will be sold. The administrators are Sumner Holmes of North Brookfield, Timothy Howard of North Brookfield and Deputy Sheriff W. E. Tarbell of East Brookfield. The property was valued in the tax report of 1897 at $1265. DEATH OF HARVEY S. OLDS. Harvey S. Olds passed away Monday morning at the home of his niece, Mrs. Larned Laflin. Mr. Olds was stricken with paralysis about two weeks ago at the house of Mrs. Marcy, where he had been boarding. He was immediately taken to Mr. Laflin's, where he has been most tenderly cared for. He was born in Brookfield, and has spent the greater part of his life here. His age was 84 years and 9 months. He leaves no family. EFFECTS OF THE STORM. The severe rain and sleet storm that started early Sunday morning lasted all of that day and all of Monday. On Sunday the town clock stopped at 9.50 and the faces of the clock are encased in ice. There was a small attendance at the churches in the morning and services in the evening were suspended. The trolley cars were running late, but with some regularity. Large limbs blew down from badly decayed trees, and made the sidewalks and roads impassable at times. The storm continued all Sunday night and the wires about town hung heavy with ice. The limb of a tree fell on the west end of the Warren, Brookfield and Spencer electric railway, and made a short circuit, which delayed the cars from 6.45 to 10.30 a. m. before the trouble was found and remedied. The cars containing the passengers going to work were the ones stalled. All of the schools held sessions despite the storm. All of the schools held exercises appropriate to the memory of George Washington. The schools will have a holiday tomorrow.