Lynn National Bank

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 3429
Charter Number: 3429
Start Date: December 15, 1931
Location: Lynn, Massachusetts (42.467, -70.949)

Metadata

Model: gpt-5-mini
Short Digest: a5cb2004

Response Measures

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Description

Article (Dec 15, 1931) lists Lynn National Bank among nine Massachusetts banks that were closed after runs; directors asked the Comptroller to take charge of the affiliated Federal National Bank and its branches. Sequence: run(s) tied to distress of affiliated/other banks, then closure/placement in charge by authorities.

Events (5)

1. January 4, 1886 Chartered

Source: historical_nic

2. September 7, 1915 Voluntary Liquidation

Source: historical_nic

3. December 15, 1931 Receivership

Newspaper Excerpt: The directors voted to ask the comptrol to take charge ... central figure in the closings The Federal National bank ... with which all the other institutions were affiliated.
Source: newspapers

4. December 15, 1931 Run

Cause: Local Banks
Cause Details: Withdrawals followed runs and distress at the affiliated Federal National Bank and its branches, triggering heavy withdrawals at Lynn National Bank.
Measures: Directors voted to ask the Comptroller to take charge (sought federal intervention).
Newspaper Excerpt: The directors voted to ask the comptrol to take charge after ... runs had deposits ... with which all the other institutions were affiliated.
Source: newspapers

5. December 15, 1931 Suspension

Cause: Government Action
Cause Details: Bank was closed and federal authorities (Comptroller) were asked to take charge following runs and affiliation with the failed Federal National Bank.
Newspaper Excerpt: NINE MASSACHUSETTS ARE SHUT DOWN BANKS ... Lynn National bank ... The directors voted to ask the comptrol to take charge
Source: newspapers

Newspaper Articles (1)

1. December 16, 1931 The Mercury Manhattan, KS

Article from The Mercury, December 16, 1931

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Article Text

NINE MASSACHUSETTS ARE SHUT DOWN BANKS Includes Four National and List Five State Banks With Deposits Boston. Dec. 15 Massachusetts banking institutions, with aggregate deposits, according to the latest were closed today. The list included four national banks and five state banks. central figure in the closings The Federal National bank the which has five city branchwith which all the other inand stitutions were affiliated. Federal National whose The directors voted to ask the comptrolto take charge after ler currency the bank and its branches runs had deposits, Septemof other banks and their latest The available statements of deposit The Middlesex National bank. Lothe State National well. the Gloucesbank. Lynn. National bank. the Bancroft ter Worcester, $5,876,Trust 474: the Lawrence Trust company, Lawrence, the Inman Trust company, Cambridge,