Arlington Trust Company

Bank Information

Episode Type: Run → Suspension → Unsure
Bank Type: trust company
Start Date: December 16, 1931
Location: Lawrence, Massachusetts (42.707, -71.163)

Metadata

Model: gpt-5-mini
Short Digest: e1904432

Response Measures

Accommodated withdrawals, Public signal of financial health, Partial suspension

Description

Newspaper reports (Dec 16–19, 1931) describe heavy withdrawals at Lawrence banks including Arlington Trust, which invoked a 30-day notice requirement to curb withdrawals (partial suspension). A later Spanish report (Dec 19) lists Arlington Trust among banks that closed their doors (suspended). There is no clear evidence in the provided articles that the bank permanently closed or later reopened, so outcome is uncertain.

Events (2)

1. December 16, 1931 Run

Cause: Local Banks
Cause Details: Heavy withdrawals affecting multiple Lawrence banks led depositors to withdraw funds from Arlington Trust; contagion from runs at other local institutions.
Measures: Invoked a requirement for 30-day notice on withdrawals from savings accounts; brought in truckloads of cash from other cities; issued reassuring statement of ample funds.
Newspaper Excerpt: HEAVY WITHDRAWALS AT BANKS IN LAWRENCE ... The Arlington Trust Company issued statement that it had temporarily the right to require notice ... The Arlington Trust has ample funds and resources in its savings department.
Source: newspapers

2. December 19, 1931 Suspension

Cause: Local Banks
Cause Details: Listed among several New England banks that suspended operations following heavy withdrawals and runs in the local banking district.
Newspaper Excerpt: La Gaceta (Dec. 19) lists the Arlington Trust Co., de Lawrence, among institutions that cerraron a sus puertas (closed their doors) after large withdrawals.
Source: newspapers

Newspaper Articles (2)

1. December 16, 1931 The Boston Daily Globe Boston, MA

Article from The Boston Daily Globe, December 16, 1931

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Article Text

HEAVY WITHDRAWALS AT BANKS IN LAWRENCE Dec of the the Trust Company today heavy the other local and they tinued until the close of business this savings banks and the cial banks that affected by the withdrawals, all of the banks took customers, and officials of said tonight that take of demands that might be made The Arlington Trust Company issued statement that it had temporarily the right to require notice statement said, in part: "The Arlington Trust has ample funds and resources in its savings department. All funds so deposited are entirely Moreover, means loss of terest for six months' period Because of this the company unwise permit continual withdrawal funds large While the requiring withput 30-day period. is likely that conditions will change that it may be possible to suspend it after few Several truckloads of cash were brought during the day from other cities and of were the banks depositors their Following meeting of the stockholders of the Lawrence Trust Company, Pres Cornelius Corcoran issued the closing the Federal National Bank of Boston, the depository of the Law-

2. December 19, 1931 La Gaceta Tampa, Ybor City, FL

Article from La Gaceta, December 19, 1931

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Article Text

(RC BANCOS CERRAGON SUSPUERTAS sto dic. 19.-Como resulBdo de las grandes vetiradas de dinero, cuatro bancos cerraron a sus puertas ayer, en New Inde gland. de Las instituciones bancarias que han suspendido sus operacio freció nes son el Boston Continental un National, de Boston; el Hamden Bank and Trust Company de Hamden, Conn.; el Arlington Trust Co., de Lawrence, y el Plymouth County Trust Co., de PERBrockton. El estado financiero de los bancos, según los últimos informes rendidos es como sigue: Boston resiContinental, depósitos de 6,281, esqui960 pesos, capital en existencia los de $1,000,000, sobrantes $150, 000; Hamden, valores de 2,097, diez 683 pesos; Arlington Trust, deen pósitos de $7,150,003.70; Plyla a mouth County, depósitos de co- $3,816,073.73.