Lancaster Savings Bank - Lancaster, MA

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: January 1, 1875*
Location: Lancaster, Massachusetts (42.456, -71.673)

Metadata

Model: gpt-5-mini
Short Digest: 72741eba

Response Measures

None

Description

The article reports the Lancaster Savings Bank had been in receivership (receivers appointed earlier in 1875 and again 1887) and that the receivership was wound up in 1892 with assets distributed and unclaimed deposits turned to the state treasurer. No run is mentioned; this is a suspension/closure with a receivership.

Events (3)

1. January 1, 1875* Other

Newspaper Excerpt: former receivers, who were appointed in 1875, when it met with a set back.
Source: newspapers

2. January 1, 1887* Receivership

Newspaper Excerpt: who have been acting as receivers of the Lancaster Savings bank since 1887
Source: newspapers

3. July 9, 1892 Receivership

Newspaper Excerpt: have been relieved of their labor, Justice Morton allowing them to turn over to State Treasurer Marden $2732.78, the amount of uncalled for deposits, which was the last link that kept alive the receivership.
Source: newspapers

Newspaper Articles (1)

1. July 9, 1892 Pawtucket Tribune Pawtucket, RI

Article from Pawtucket Tribune, July 9, 1892

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Article Text

LONG RECEIVERSHIP ENDED. Affairs of the Lancaster Savings Bank Wound Up in Court. BOSTON, July 9.-Henry C. Greely and George W. Howe, who have been acting as receivers of the Lancaster Savings bank since 1887, have been relieved of their labor, Justice Morton allowing them to turn over to State Treasurer Marden $2732.78, the amount of uncalled for deposits, which was the last link that kept alive the receivership. The books and other evidences of the institution will be turned over to the savings bank commissioners. The bank was on the point of having its business wound up and assets distributed in 1887 by former receivers, who were appointed in 1875, when it met with a set back. W. H. McNeill, one of the receivers, became financially embarrassed, was removed, and the present receivers were appointed, starting anew. When they took hold the assets amounted to about $70,000, and they have all been distributed except the amount which is turned into the state treasury. After the fund has been on deposit with the state treasurer for two years, the claims of the unknown depositors will be barred.