8141. Lexington Savings Bank (Lexington, MA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
October 14, 1878
Location
Lexington, Massachusetts (42.447, -71.225)

Metadata

Model
gpt-5-mini
Short Digest
3d9261d1

Response Measures

None

Description

Multiple newspapers (Oct 14–15, 1878) report that the Massachusetts bank commissioners obtained an injunction restraining Lexington Savings Bank from transacting business and that its affairs would be wound up without loss to depositors. No run is mentioned; this is a commissioner-ordered suspension leading to winding up/closure.

Events (1)

1. October 14, 1878 Suspension
Cause
Government Action
Cause Details
Temporary injunction obtained by the Massachusetts bank commissioners restraining the bank from transacting business; affairs to be wound up for depositors' protection.
Newspaper Excerpt
At the request of the bank commissioners a temporary injunction was issued this afternoon restraining the Lexington Savings bank from further transacting business. Business will be wound up without loss to depositors.
Source
newspapers

Newspaper Articles (4)

Article from The Cheyenne Daily Leader, October 15, 1878

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Article Text

DOTS AND DASHES, London: The Bank of England rate was increased to-day to six per cent. Mrs. Jennie Smith, of New Jersey, was arraigned yesterday and pleaded "not guilty." Glasgow: Findley & Co., East India merchants, have suspended. Liabilities, £1,000,000. Boston: Dispatches from along the coast continue to report great loss of property on sea and shore. Vienna: An understanding has been reached regarding the reduction of the army of occupation in Bosnia. London: The amount of bullion which has gone into the Bank of England on balances to-day was 46,000 pounds. London: A correspondent at Vienna states that the porte is adopting an apologetic tone to Austria relative to its recent Fitchburg, Mass.: The woolen mill of Gledhill & Jones was damaged to the extent of $30,000 by an incendiary fire. Insurance, 23,000. Vineyard Haven: In the gale to-day the schooner Etta A. Stimpson capsized, and the captain, his wife and five seamen were drowned. Boston: At the request of the bank commissioners a temporary injunction was issued this afternoon restraining the Lexington Savings bank from further transacting business. London: A dispatch from Vienna states that the stoppage of the Russians in the neighborhood of Constantinople seems to have caused some stir amongst the cabinets of the powers. New York: Secretary Sherman has decided that hereafter silver bullion


Article from Daily Globe, October 15, 1878

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Article Text

Savings Banks Closed Up. BOSTON, Oct. 14.-At the request of the bank commissioners, a temporary injunction was issued this afternoon restraining the Lexington Savings bank from further transacting business. Business will be wound up without loss to depositors. POTTSVILLE, Oct. 14.-The First National bank of Tamaqua has suspended. The cause of suspension is assigned to the failure of Charles F. Shoener, Philadelphia coal and iron operator, and who was the principal stockholder. Assets, $150,000; liabilities cannot be ascertained. A large number of working people had deposits in the bank, and will suffer from its suspension this winter. The Greenwood rolling mill and Shoener & Adam's machine shops will also be closed by the failure.


Article from Essex County Herald, October 25, 1878

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SUMMARY OF NEWS. Eastern and Middle States. During a heavy storm on the New England coast about twenty-five schooners were blown ashore at Vineyard Haven, Mass., and many more at Cape Cod and other parts of the coast. A fire which broke out in Main street. Edenburg, Pa., soon swept over the entire block. The firemen's efforts to extinguish the flames were hindered by scarcity of water, and be fore the fire died out 225 buildings were burned. The town was almost completely destroyed, the total loss being estimated at $400,000. The suspension of the First national bank, of Tamaqua, Pa., is announced. The cause the suspension is attributed to the failure of one of the principal stockholders, Charles F. Shoerer, Philadelphia. large coal and iron operator of The trial of Jesse Billings, for the murder of his wife, held at Ballston, N. Y., attracted great attention on account of the wealth of the accused, the heinous character of the crime and the conflicting opinions regarding defendant's guilt. After & long and exciting trial the case was given to the jury, who re mained in deliberation sixty-one hours and then returned to the court-room, stating they were unable to agree. The jury stood eleven for acquittal to one for conviction. At the request of the Massachusetts bank commissioners the Lexington savings bank has been enjoined from doing further business, and its affairs will be wound up without loss to the depositors. An attendant in the asylum for lunatics on Ward's Island, New York city, was attacked and killed by one of the patients, an apparently harmless lunatic. Haar & Co., New York stock brokers, have fa led for about $200,000. The Concord savings bank, of Concord, N. H., has suspended. Justin S. Morrill has been re-elected United States senator by the Vermont legislature. In the case of Rev. H. H. Hayden. charged with the murder of Mary Stannard. in Madison, Conn., the grand jury found a true bill of indictment for murder in the first degree. According to Dun, Barlow & Co. New York mercantile agency the number of failures in the United States during the first nine months in 1878 is 8,678, the amount of liabilities being $197,211,129. During the corresponding period in 1877 there were 6,565 failures, with $141,862, 265 of liabilities. In Canada there were 1,242 failures in 1878, with $18,138,321 of Jiabilities, and in 1877 the failures numbered 1,646, with $20,904,976 of liabilities. The New Hampshire Prohibition party met in convention at Nashua and nominated & ticket headed by Asa S. Kendall for governor. Western and Southern States. " Bill Longley, a hotorious desperado who had murdered thirty-two persons, was hung at Giddings, Texas, the other day. The particular crime for which he suffered death was the murder of Wilson Anderson, in March, 1875. Longley was about twenty-six years of age. He walked upon the scaffold with a smile mouth. on his face and 8 lighted cigar in his Special dispatches states that Mount Vernon, Ind., was in the wildest state of excitement over a series of the most revolting crimes and tragic vengeances that ever occurred in that region On a recent Monday night, at eleven o'clock, a party of seven or eight colored men went to a disreputable house in the outskirts of the town and knocked for admittance. There were three white girls in the house, and upon their inquiring what was wanted they received the reply that messenger with note was waiting. One of the girls opened the door, when signatic fellow with a cocked reVolver entered, and ordered the girls into one room, while the party ransacked the house for plunder. After securing all the valuables they assaulted the women. Next morning there was great excitement in the town. The officers quietly arrested Jim Good, Jeff Hopkins, Ed. Warder and William Chambers, who were accused of being in the party. At night Deputy Sheriff Thomas went to the house of Dan Harris, a colored man sixty years old, with a warrant for his son. He was refu od admittance. Thomas then went to a side window to parley, when a double-barreled shotgun was pushed out and discharged within three feet of him, eighteen buckshot striking Thomas in the face and breast, and outting his Jugular vein. He staggered a faw feet and fell dead. The officers Assisting him rushed into the house and secured the old man, but his son was not there. Harris was locked up with the others. A mob gathered about the jail in the morning and demanded the prisoners, but they were refused, and the mob concluded to wait until night (Friday) before proceeding further. A colored man who was in the mob and talked freely in defence of the prisoners, was shot and wounded in the neck. Early in the day dispatches were sent to Evansville, where many leading citizens were attending the United States court, and was rumored that Governor Williams had de it termined to send the Evansville rifles and light guard and the militia. This news put the mob in frenzy of excitement Two hundred men, well-armed. were stationed at the depot to prevent the militia from leaving the cars. cannon was brought out by the rest of the A mob and planted in front of the court house, facing the street to the depot. The militia did not come, and the excitement on that its score subsided, although the armed mob kept position in front of the jail all day. At ten on the following Friday evening one hundred masked mon fired upon the officers around the jail and entered the building, and by means of 8 sledge hammer and crow-bar gained access to the prisoners; the latter in the meantime praying and singing most earnestly. The old man Harris, who had been wounded when Sheriff Thomas was shot, was lying upon a pallet, apparently indifferent to his end. One of the masked men seized him by the throat and plunged knife into his heart. At eleven o'clock the four colored men, with ropes around their necks, were led out upon the square, under a locust tree, when the ropes were thrown over the limbs of the tree, and all four of them hung. Although identified by the women, they denied their guilt. Nine convicts dug through the wall of the prison woods. at Kokomo, Ind., and escaped to the During the progress of a marriage at A colored Baptist church in Lynchburg, Va., some of the ceiling plastering fell, and the immense crowd at once became panic stricken, many in the galleries jumping from the windows of the second and third stories, while others threw themselves headlong down the stairway on the surging people below. There was only one door of exit down stairs. and through this men and women crowded frantically most of the killed being literally crushed to death. Ten women were killed, three more fatally injured, and about thirty persons received wounds more or less severe. d Five illicit distilleries were recently destroyed in one day in Putnam county, Tenn., by United e States revenue officers. e Official returns from Ohio give Barnes. e Republican candidate for secretary of state, a plurality of 3,154. The California constitutional convention adopted a resolution to memorailize the President and the United States Senate to 80 modify e immigration. the Burlingame treaty as to prohibit Chinese From Washington. At recent meeting of the cabinet the question whether the military should be called upon to proceed against fortified distillers I Arkansas was discussed. It was decided not in to use the military until the civil power had exhausted all means to enforce the law against the illicit distilleries. r The opening session of the United States supreme court was held a few days ago. The post-office authorities throughout the country are now registering third-class mail matter upon the receipt of the regular postage, and an additional fee of ten cents for registra-


Article from The Abbeville Press and Banner, November 6, 1878

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NEWS SUMMARY. Hastorn and Middle States At the request of the Massachusetts bank commissioners the Lexington savings bank has been enjoined from doing further business, and its affairs will be wound up without loss to the depositors. Haar & Co., New York stock brokers, have failed for about $200,000. The Concord savings bank, of Concord, N. H., has suspended. Justin S. Morrill, has been re-elected United States senator by the Vermont legislature. In the case of Rev. H. H. Hayden, charged with the murder of Mary Stannard, in Madison, Conn., the grand jury found a true bill of indictment for murder in the first degree. According to Dun, Barlow & Co.'s New York mercantile agency the number of failures in the United Sttates during the first nine months in 1878 is 8,678. the amount of liabilities being $197,211,129. During the corresponding period in 1877 there were 6,565 failures, with $141,862,265 of liabilities. In Canada there were 1,242 failures in 1878, with $18,138,321 of liabilities. and in 1877 the failures number 2 1,646, with $20,904,976 of liabilities. The New Hampshire Prohibition party met in convention at Nashua and nominated a ticket headed by Asa S. Kendall for governor. The bark Susan, of New Bedford, Capt. Peaks, sailed from New Bedford on recent Saturday, with a crow of twenty -five men, on a whaling voyage At twelve 'clock she encountered a hurricane and atseven M. the vessel capsized. Eight men were in the forecastle at the time. They got on boards. chests, and dunnage stuffs, and kept above the water. On Sunday at noon two of them dived down and came up outside through the companionway. One man who could not swim was left in the forecastle. The other five at length fell through into the water and were drowned. The two who got ont lashed themselves on the weatherside of the wreck. On Tuesday morning New York pilot boat No. 8 fell in with the wreck, took off the two men who were on the outside, and cut through the bluff of the bow and took out the man inside alive. One man, who had lashed himself in the rigging at the time the ship capsized, was left. The roll of the vessel had nearly cut him in two. Three men only of the ship's company of twenty were saved -namely, Joseph G. Reig, Henry Gonsalve and Manuel Alpho. The Delaware Greenback party held a State convention in Wilmington, nominated Dr. K. J. Stewart for governor and John G. Jackson for Congress, and adopted a platform which demands the payment of the bonds in greenbacks that greenbacks be made a logal tender for all debts, etc. Hiram Paulding, rear-admiral and senior flag officer on the retired list of the United States navy, died at his homenear Huntington, Long Island, the other day, aged eighty-one years. Admiral Paulding w&s the last surviving officer of MacDonough's squadron in the victory over the British on Lake Champlain, on September 11, 1814. Patrick Butler, a wealthy New York manufacturer, was thrown from his carriage while riding in Central Park and killed, and his wife was seriously injured. Job W. Green, aged cighty-one, committed suicide at his home, in Brooklyn, by hanging himself. His mind was affected. John O'Neil was sentenced to death at Sunbury, Pa., by Judge Rockafeller, for the murder of Coroner Hesser at Hickory Swamp, near Shamokin, in December, 1874. Peter MoManus, his accomplice in the crime, has already been sentenced to death. Captain Anderson. of the schooner Moss Glen, of St. John, N. B., reached Boston, the other day, and reported the loss of his vessel during the recent heavy gale off Cape Cod. The steward and two seamen were washed overboard. The captain, mate and two sailors lashed themselves to the mizzen chains and drifted about for four days without food or drink, when they were rescued by a passing vessel. Western and Southern States. Nine convicts dug through the wall of the prison at Koxomo, Ind., and escaped to the woods. During the progress "of a marriage at a colored Baptist church in Lynchburg, Va., some of the ceiling plastering fell, and the immense crowd at once became panic stricken, many in the galleries jumping from the windows of the second and third stories, while others threw themselves headlong down the stairway on the surging people below, There was only one door of exit down stairs, and through this men and women crowded frantically most of the killed being literally crushed to death. Ten women were killed three more fatally injured, and about thirty persons received wounds more or less severe. Five illicit distilleries were recently destroyed in one day in Putnam county, Tenn., by United States revenue officers. Official returns from Ohio give Barnes, Republican candidate for secretary of state, a plurality of 3,154. The California constitutional convention adopted a resolution to memorailize the President and the United States Senate to 80 modify the Burlingame treaty as to prohibit Chinese immigration. Five people were drowned near Sandford, in Orange county, Fia., a few days ago. Two were ladies named Hughey, and two were children of Calvin Martin. The fifth was man named McIves. They werein wagon en route for home from camp meoting, and drove into a deep hole at the lake side. A sixth person was rescued after standing up in the wagon for several hours with the water up to his chin. George T. Nelson, while climbing a fence near Kennedyville, Md., was accidentally killed by the discharge of his gun. When the news of the accident reached his mother, six hours after, she was 80 overcome that she died of grief. By the bursting of a boiler belonging to a sawmill near McLeansboro, III., the proprietor and another man were killed and three other men were fatally injured. Ten persons were poisoned at a wedding feast at Azalia, Ind. They partook of food in which some person-supposed to be disappointed lover of the bride-had placed strychnine. Three of the persons affected were made dangerously ill. A Memphis (Tenn.) dispatch says a party of white men killed a colored man near Glencoe, Tenn., shooting him while in bed, in his own house. In retaliation, party of colored men captured and kil ed white man supposed to have been the murderer, while asleep on the porch of a grocery at Cuba, on the next night. It turned out they killed the wrong man. The failure of Stagle Brothers, of Greenfield, Ohio, is the heaviest that has occurred in that rection for years. They owned the largest farm in Fayette county. It comprised 2,200 acres. The liabilities exceed $120,000; the assets will probably reach ten per cent. The appearance of frosts in the districts of the South given up to yellow fever, was the cause of great rejoicing among the long-suffering people. The epidemic immediately decreased in the number of deaths and of new cases to such an extent that the medical and charitable associations of the largo cities, called into existence by the plague, began to end their labors, while many persons, who had fled from the fever, returned to their homes. The failure of Dodd, Brown & Co., the largest dry goods house in St. Louis, is announced. The depression in trade caused by the yellow fever in the South was one of the principal causes of the failure. The firm's liabilities are estimated to be between $1,500, 000 and $2,000,000, with assets at about $1,000,000. The First national bank, of Auburn, Ind. which suffered 80 heavily from the defalcation has 8018-