State National Bank

1. December 15, 1931 St. Louis Post-Dispatch St. Louis, MO

Article from St. Louis Post-Dispatch, December 15, 1931

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NATIONAL BOSTON AND AFFILIATES Aggregate Deposits of ConAffected cerns 000, According to Their Latest Statements. By the Associated Press.. BOSTON, Dec. Massachusetts banking houses with aggregate deposits of cording to their latest statements, were closed today. The list includes four National banks and five State banks. The central figure the Federal National Bank of which has five city branches and with which all the the other banks closed were affiliated. The Federal National Bank, whose directors voted to ask thhe Comptroller of Currency to take charge after runs at the bank and its branches yesterday, had deposits, Sept. 29, of $28,235,238. The other banks and their latest available statements of deposits follow: Middlesex National Bank, Lowell, State National Bank, Lynn, $2,013,565; Gloucester National Bank, Bancroft Trust Co., Worcester, $5,876,474; Lawrence Trust Co., Lawrence, Inman Trust Co., Cambridge, $3,Brockton Trust Co., Brockton, Salem Trust Co., Salem. $2,115,530. Gov. Ely, in statement, said that with proper measures, plan for the speedy reopening of the institutions could be arranged and further said had instructed Bank Commissioner Arthur Guy to proceed with that end in view. Three savings banks in East Boston and South Boston experienced small runs today. They are independent of the group affected by today's closings and officers sought to assure depositors that their funds were President Daniel Mulloney of the Federal National Bank expressed the opinion that with careful handling of resources. depositors in his bank would receive 100 cents the dollar. The Federal National member of the Boston Clearing House. It held State deposits of $729,889. National Bank at Marion, O., Closed: Ex-Cashier Missing. By the Associated Dec. B. Hane, president of the Marion National Bank, said apparent irregularities in the accounts of his son, H. W. Hane, former cashier, caused the closing of the bank today. The elder Hane issued statement that the directors had placed the bank in the hands of the Federal Comptroller of Currency and that national bank examiners were checking the records. nature and the amount of the apparent defalcations have not been determined.' the stateHane, cashier, in whose accounts the confusion in records has been found, resigned an officer of the bank last week. He left the city at that time and his not now known. The bank's deposits are listed

2. December 15, 1931 The Boston Daily Globe Boston, MA

Article from The Boston Daily Globe, December 15, 1931

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STATE NATIONAL BANK OF LYNN, A BRANCH, CLOSED Dec State Bank of Lynn, subsidiary of the Federal National Bank of closed today and placed the hands of the Federal controller of the currency, it known when Theodore M. president of bank, and Mahoney, issued statement morning. The statement follows: the curity market, because the fact that the Bank with the Federal of Boston, order the interests depositors, directors the State National to ask The State Bank said to deposits and ings, capital of $200,000 and surplus and one of the newest of Lynn's 15 banks.

3. December 15, 1931 The Berkshire Eagle Pittsfield, MA

Article from The Berkshire Eagle, December 15, 1931

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FOUR NATIONAL AND FIVE STATE BANKS CLOSED Federal National Bank of Boston and Affiliated Institutions Involved Had Aggregate Deposits of in Last Statement BOSTON, banking institutions aggregate deposits, according to the latest statements of 000 were closed today. The list included four National Banks and State The central figin the closings was the Federal National Bank which has five city branches and with which all the other institutions were affiliated The Federal National whose directors voted to ask Comptroller Currency take on the bank had posits September $28,- Bank Deposits. The other and their latest Middlesex National Lowell, $4,000,000; the State National Lynn, the National Bank, Glouces$1,600,000; Bancroft Trust Company, the Trust Company, Lawrence Trust Lawrence, the Inman Trust Company, Cambridge, the Brockton Trust Company, Brockton, the Salem Trust ComSalem, Governor statement from home Westfield, said that the proper measures, for the speedy reopening could accomplished said he had structed Bank Arthur proceed with that view. Ely Hastens to left home Continued 19th Page

4. December 15, 1931 The Santa Fe New Mexican Santa Fe, NM

Article from The Santa Fe New Mexican, December 15, 1931

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Close Nine Banks In Massachusetts Boston, Dec. 15 (/P)-Nine Massachusetts banking institutions with aggregate deposits, according to the latest statements of were closed today. The list included four national banks and five state banks. The central figure in the closings was the Federal National bank of Boston, which has five city branches and with which all the other Institutions were affiliated. The directors of the Federal National bank voted to ask the comptroller of currency to take charge after runs at the bank and its branches yesterday. The other banks and their latest available statements of deposit were: ling of resources, depositors in his bank would receive 100 cents on the dollar. Today, small runs started on three shavings banks, two in east Boston and one in south Boston, while their officers endeavored to assure depositors that the institutions were entirely indépendent of the other Institutions and their funds were safe. The Middlesex National bank, Lowell, $4,000,000; the State National bank, Lynn, $2,013,565; the Gloucester National bank, the Bancroft Trust company, Worcester, $5,876,474; the Lawrence Trust company, $9,555,926: the Inman Trust company, Cambridge, $3,808,412; the Brockton Trust company, Brockton, $1,508,753; the Salem Trust company, Salem, $2,115,530. SPEEDY REOPENING Governor Joseph B. Ely, in state- Gloucester, Mass., Dec. 15-(P)ment from his home in Westfield. The Gloucester National Bank said that with proper measures, founded in 1796 and one of the oldplan for the speedy re-opening of est financial institutions in the the institutions could be accom- United States, voluntarily closed its plish and further said he had in- doors today after heavy demands structed Bank Arthur for It associated Guy to proceed with that end in with the Federal National bank of view. President Daniel c. Mulloney of the Federal National bank expressed oHTo BANK CLOSES the opinion that with careful hand- Marion National Bank with resources of failed to open today. Frozen assets and a depleted cash reserve was given as the reason. Liberty State bank of Bidney closed today. sign on the door said deflation of values, adverse conditions and withdrawal of deposits had led to the closing. The bank's last statement showed deposits of $365,345.

5. December 15, 1931 Fort Collins Coloradoan Fort Collins, CO

Article from Fort Collins Coloradoan, December 15, 1931

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9 Banks Close Massachusetts Boston. (AP) Nine Massachusetts banking aggregate deposits, to the latest of closed today. The list included four national and five state banks. The central figure in the closings 12t-195G was the Federal bank Boston, which has five city es and with which all the other 3t-199G stitutions were affiliated. before The Federal National bank, whose directors voted to ask the comptroller of currency to take charge after runs at the bank and had posits, on 29, of 3t-199G The other banks and their available statements of deposit were: The Middlesex National bank. 3t-200G Lowell, $4,000,000; the State National bank, Lynn, $2,013,565; the GlouNational bank, $$1,600,000; See the Trust Worcester, $5,876,474 the Trust company, Lawrence, $9,555,926; the 5t-200G Cambridge, $3,808,412; the lyn Trust Brockton, $1,508,753; the Salem Trust company, Salem, $2,115,530.

6. December 15, 1931 The Iola Register Iola, KS

Article from The Iola Register, December 15, 1931

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MASSACHUSETTS Deposits of 58 Millions Jeopardized As Nine Houses Close Dec. Massachusetts banking institutions, aggregate deposits, according the latest statements, of 000 were closed today. The list cluded four national banks and five state banks. The central figure the closings the Federal tional bank of Boston, which has five city branches and with which all the other institutions were The Federal National whose directors voted to comptroller to take charge at bank and its branches had deposits, on other banks and their available statements of deposit Middlesex National Bank. well. the State National Lynn. the GlouNational Bank. Bancroft Lawrence Trust company, Inman Trust company. Cambridge, the Trust company, the Salem Trust company. Salem Governor Joseph Ely. from his home field. proper ures, plan for the speedy ening the institutions could accomplished that he had structed bank Arthur Guy proceed with that view. Motor Law Upheld Dec. the motor carrier taxation statute private upheld opinion livered federal The its application carriers been held in federal Constitutionality of the law had been challenged by Continental Baking company, the General the company wholesale company, operating Kansas, on various them that discrimination provisions exempting trucks within mile radius of city and trucks operated by farmers

7. December 15, 1931 The Atlanta Journal Atlanta, GA

Article from The Atlanta Journal, December 15, 1931

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Nine Massachusetts Banks Close Doors Dec. Massachusetts banking institutions, with deposits, according to the latest statements, of $58 700,000, were closed Tuesday. The list included four national banks and five state banks. The central figure in the closings was the Federal National Bank of which has five city branches and with which all the other institutions affiliated The Federal National Bank, whose directors voted to ask the the comptroller of currency to take charge after runs at the bank and its branches Monday had deposits, September 29, of $28,235 238, The banks and their latest available statements of deposit were: Middlesex National Bank Lowell, the State National Bank, Lynn, $2,013,565; the Gloucester National Bank, Gloucester, the Bancroft Trust Company, Worcester. $5,876,474; the Trust Company, Lawrence, $9,555,926 the Inman Trust Company. Cambridge, the Brockton Trust Company, Brockton, the Salem Trust Company, Salem, $2,115,530 Naval Stores Trade SAVANNAH, Dec. The naval stores section of the Board of Trade Tuesday announced that on the day before Christmas and day before New Year's trading would start at instead of 12:45 No trading will be on Christmas or New Year's Day or the day immediately following. Naval Stores receipts, ments, and $2.50 N. WG, $6.00; and

8. December 16, 1931 Daily News New York, NY

Article from Daily News, December 16, 1931

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9 BAY STATE BANKS FAIL WITH $58,700,000 DEPOSITS Boston, Dec. 15 (AP)Nine Massachusetts banking institutions, with aggregate deposits of $58,700,00, were closed today in the migst of the Christmas shopping season. The list included four National banks and five State banks. The central figure in the closings was the Federal National Bank of Boston, which has five city branches and with which all the other institutions were affiliated. The Federal National Bank, whose directors asked the Controller of Currency to take charge after runs at the bank and its branches yesterday, had deposits Sept. 29 of $28,235,238. Move for Reopenings. The other banks and their latest available statements of deposit were: Middlesex National Bank, Lowell, $4,000,000; State National Bank Lynn, $2,013,565; Gloucester Na tional Bank, $1,600,000; Bancroft Trust Company, Worcester, $5,876,474: Lawrence Trust Company Lawrence, $9,555,926; Inman Trust Company, Cambridge, $3,808,412 Brockton Trust Company, Brockton. $1,508,753; Salem Trust Company, Salem, $2,115,530. Gov. Joseph B. Ely, in a statement from his home in Westfield. said that with proper measures a program for the speedy re-opening of the institutions could be worked out and that he had instructed Bank Commissioner Arthur Guy to proceed with that end in view. Run on Savings Banks. Three savings banks in East Boston and South Boston were experiencing small runs today. President Daniel C. Mulloney of the Federal National Bank expressed the opinion that, with careful handling of resources, depositors in his bank would receive 100 cents on the dollar. The city of Boston had $900,000 on deposit in the Federal National Bank while the State had $773,889. besides $287,000 in other banks closed today. The bank commissioner's office estimated there were 75,000 depositors in the five State banks affected. Marion, 0., Dec. 15 (P).-The Marion National National Bank with resources of $1,911,422 failed to open today.

9. December 16, 1931 Daily News New York, NY

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9 BAY STATE BANKS FAIL WITH $58,700,000 DEPOSITS Boston, Dec. 15 (/P)Nine Massachusetts banking institutions, with aggregate deposits of $58,700,00, were closed today in the midst of the Christmas shopping season. The list included four National banks and five State banks. The central figure in the closings was the Federal National Bank of Boston, which has five city branches and with which all the other institutions were affiliated. The Federal National Bank, whose directors asked the Controller of Currency to take charge after runs at the bank and its branches yesterday, had deposits Sept. 29 of $28,235,238. Move for Reopenings. The other banks and their latest available statements of deposit were: Middlesex National Bank, Lowell, $4,000,000; State National Bank, Lynn, $2,013,565; Gloucester National Bank, $1,600,000; Bancroft Trust Company, Worcester, $5,876,474; Lawrence Trust Company, Lawrence, $9,555,926; Inman Trust Company, Cambridge, $3,808,412; Brockton Trust Company, Brockton, $1,508,753; Salem Trust Company, Salem, $2,115,530. Gov. Joseph B. Ely, in a statement from his home in Westfield, said that with proper measures a program for the speedy re-opening of the institutions could be worked out and that he had instructed Bank Commissioner Arthur Guy to proceed with that end in view. Run on Savings Banks. Three savings banks in East Boston and South Boston were experiencing small runs today. President Daniel C. Mulloney of the Federal National Bank expressed the opinion that, with careful handling of resources, depositors in his bank would receive 100 cents on the dollar. The city of Boston had $900,000 on deposit in the Federal National Bank while the State had $773,889. besides $287,000 in other banks closed today. The bank commissioner's office estimated there were 75,000 depositors in the five State banks affected. Marion, 0., Dec. 15 (A).-The Marion National National Bank with resources of $1,911,422 failed to open today.

10. December 16, 1931 Daily News New York, NY

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9 BAY STATE BANKS FAIL WITH $58,700,000 DEPOSITS Boston, Dec. 15 (A).-Nine Massachusetts banking Institutions, with aggregate deposits of $58,700,000, were closed today in the midst of the Christmas shopping season. The list included four National banks and five State banks. The central figure in the closings was the Federal National Bank of Boston, which has five city branches and with which all the other institutions were affiliated. The Federal National Bank, whose directors asked the Controller of Currency to take charge after runs at the bank and its branches yesterday, had deposits Sept. 29 of $28,235,238. Move for Reopenings. The other banks and their latest available statements of deposit were: Middlesex National Bank, Lowell, $4,000,000; State National Bank, Lynn, $2,013,565; Gloucester National Bank, $1,600,000; Bancroft Trust Company, Worcester, $5,876,474; Lawrence Trust Company, Lawrence, $9,555,926; Inman Trust Company, Cambridge, $3,808,412; Brockton Trust Company, Brockton, $1,508,753; Salem Trust Company, Salem, $2,115,530. Gov. Joseph B. Ely, in a statement from his home in Westfield, said that with proper measures a program for the speedy re-opening of the institutions could be worked out and that he had instructed Bank Commissioner Arthur Guy to proceed with that end in view. Run on Savings Banks, Three savings banks in East Boston and South Boston were experiencing small runs today. President Daniel C. Mulloney of the Federal National Bank expressed the opinion that, with careful handling of resources, depositors in his bank would receive 100 cents on the dollar. The city of Boston had $900,000 on deposit in the Federal National Bank while the State had $773,889. besides $287,000 in other banks closed today. The bank commissioner's office estimated there were 75,000 depositors in the five State banks affected.

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

Article from The Boston Daily Globe, December 16, 1931

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STATE'S FUNDS IN CLOSED BANKS TOTAL $1,060,889 The State of Massachusetts has slightly more than $1,000,000 tied up in six of the banks that closed their doors given out yesterday by State Treas Charles Hurley Treas Hurley said that the State had no funds in the Brockton Trust pany, the Lawrenche Trust Company the Trust closed banks, all affiliated with the Federal National Bank of Boston, in which the State has funds, and the amount in each follows: Bancroft Trust Company Worcester. $45,000 Inman Trust Company, $72,000; National Bank, Low $76,000 State National Bank, Lynn, Federal National Bank, $773,889 Gloucester National in the closed banks totaled $1,060,889.

12. December 16, 1931 Omaha World-Herald Omaha, NE

Article from Omaha World-Herald, December 16, 1931

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Call Money Complete Range of Prices on the New York Stock Exchange 21/2 Per Cent official on Eastmn 8.00 or when STOCK MARKET AVERAGES day to restrict and Dividends Boston Bank tors Crash Carries Others Down for fine trading limited to nearby said statement issued by the Nine banking insti- New York, Money and Exchange. tutions, with aggregate deposits of 000, were closed today. Omaha bank clearings Tuesday regular The list included four national the both corresp day last banks and five state banks. The 30 holders central figure in the closing was New York Money stock New money the Federal tional bank Bos- that year. per cent which has five city branches with which all the other insti- to cent. tutions were affiliated. Bankers The Federal National bank, whose directors voted to ask the New York Bar Silver comptroller of currency to take higher charge after runs at the bank and Foreign Exchange its branches yesterday, had deposits, on September 29, of $28, Great Britain in others The other banks and their latest available statements of deposits were: cables, The Middlesex National bank, Demands. Any good fixed trust provides Lowell, $4,000,000; the State National bank Lynn, $2,013,565; the for the investor the essential Gloucester National bank, $1,600, element of diversification for 000: the Bancroft Trust company Worcester, $5,876,474; the Law- his funds, plus the convenrence Trust company, Lawrence, ience and protection of the $9,555,926; the Inman Trust comtrust form of holding. pany, Cambridge, $3,808, 412; the Trust company, BrockIn addition to the above, the ton. 508 the Salem Trust company Salem, $2, 115,530. important factor of recogGovernor Joseph B. Ely, in nized and experienced sponstatement from his home in Westfield, said that with proper meas- sorship is provided in ures, a plan for the speedy reCity opening of the institutions could be accomplished and further said he had instructed Bank Commissioner Arthur Guy to proceed with CORPORATE that end in view. Three savings banks in East Boston and South Boston were ex- TRUST SHARES periencing small runs today. They were independent of the group Are Sold by fected in today's closing and officers sought to reassure deposiT. H. Crane & Co. tors that their funds were safe. Sugar. Investment Trust Specialists York, Dec P.)-Raw sugar Local Handling All Types of Investment Trusts Chicago Detroit 717-718 City Nat'l Bank Bldg. there AT 0658 Reports that was further

13. September 29, 1932 The Berkshire Eagle Pittsfield, MA

Article from The Berkshire Eagle, September 29, 1932

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INDUSTRY AND Reveals Possible Assets NEW YORK. Hearing before Federal Referee Davis bankruptey of Match Corp., possible Toll to $3,000,000, now held by the Irving Trust as bankruptey consist 60,000 shares of the Ohio Match are obscured by an financial transaction variety which has made the task of unravelling Ivar monumental one. Ohio Match Corp., purchased in 1928 by Kreuger for Italy's Income Drops NEW national indecreased one-third during 1931, according to official report by Premier to make no in taxation to meet budget deficit, but will decrease Total value of four leading wine, olive oil and hemp, dropped from lire 1930 9,860,000,000 in 1931. Drop industrial output varied from per cent to per cent, with average about onethird while income from investments stocks of all kinds fell off more than Warner Bros. Attached NEW YORK. Attachment for against property of Warner Brothers Inc., was granted in New York Court, Tuesday, suit of Heins, owner Heins Theatre Circuit in Roanoke, to recover that sum on ground of breach of contract. Attachment was served on banks in which defendant was believed to have funds. To Survey Railroads Bernard M. Baruch, one of the members of com- mission headed by Calvin Coolidge to survey status railroads and for legislation, committee probably be called within few days and that work start immediately. Experts will ganize data on phases of the problem and report Baruch pointed out that are number the subject availthe English just having completed transports, truck and railroads, while have been made in Australia and Argentina. Maximum Rate Set of Worcester Clearing House voted that, October the rate be paid ings banks shall be per cent on balance up to $4000 account, instead per cent formerly, and the balance in excess $4000. To Get 30 Per Cent Dividend State National Bank Lynn, Mass., closed since Dec. 15, will be paid per dividend Bank's receiver said dividend is largest original payment be by any closed banks taken over by the eral Comptroller of the Currency. Truce Arranged NEW has been arranged rival groups England, on what lieved to be fair basis. Report was approved by of of Big Four and leading commercial groups. To equalize competition, classes vehicles which carry passengers and freight on highways, are to be required to $36,125,000 more year toward

14. October 18, 1932 The Springfield Daily Republican Springfield, MA

Article from The Springfield Daily Republican, October 18, 1932

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FILM DANCER ASKS DIVORCE Pittsburg, Oct. 17-(AP) Nancy of the talkLink, 21, specialty ing today filed divorce Billy Link, Hollywood. She charged cruelty. They married in Pittsburg April 1931. BANK RECEIVER FILES WRITS Oct. C. Boston, of State National of Lynn brought two writs of of property Gen Edward Logan and against Francis Logan, brothers, in federal district court.

15. May 2, 1933 The Daily Item Lynn, MA

Article from The Daily Item, May 2, 1933

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SUIT ON NOTE OF JUDGE LOGAN SET FOR MAY 9 State National Bank Receiver Seeks Settlement of Loan Made in 1929 Assignment of May 9 as the date for the hearing of the suits of Receiver John B. Cunningham of the State National bank of Lynn. against Judge Edward Logan of South Boston, Francis V. Logan and Emma Mullen. sister-in-law was announced in the Federal District court in Boston today. Atty Harry D. Linscott represents the Lynn bank. The suit is to recover sums of money allaged to be due the bank by the defendants. The three suits are brought in behalf of the receiver and are based on notes the defendants alleged to be held by the closed Lynn bank. The promissory note Judge Logan alleged to be for $25,000, dated Oct. 31, 1929, on which the balance due is $24,850.

16. June 22, 1933 The Daily Item Lynn, MA

Article from The Daily Item, June 22, 1933

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SUIT TO COLLECT STATE BANK NOTE Through its receiver. John B. Cunningham, the State National bank of Lynn today filed in the United States district court the Eigley Investment Harry Eigner, administrator of the estate of the late Joseph Eigner and Patrick F. Crowboth of Lynn, petition seeking to collect the sum of $2036 allegedly due note. The plaintiff, according the suit filed by Harry D. Linscott, counsel for bank's reseeks to have for the amount ordered against all three defendants In the declaration, the bank sets forth that on Dec. 6. 1932, Harry Eigner administrator of the Eigner and estate, as they were the Eigley Investment Co. On Dec. 1931. the investment which is characterized as doing business in real estate mortgages, endorsed a note to the State National bank in the sum of $5000. The note, an asset of the closed bank there remains unpaid of $2036 96, which the plaintiff seeks to collect, plus interest. The bill is returnable July 10.

17. September 13, 1933 The Boston Daily Globe Boston, MA

Article from The Boston Daily Globe, September 13, 1933

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RESIGNS AS BANK RECEIVER J. B. Cunningham to Give Up Boston and Lynn Tasks John B. Cunningham has tendered his resignation as receiver the BosContinental National Bank of Boston and the State National Bank of Lynn, effective at the pleasure of the Controller of the Currency. Mr Cunningha refused this morning to explain his resignation in any way. "This is not the proper time for me to say anything about beyond making the simple statement that have tendered my resignation, he said. The receiver, who has been under extreme pressure for many months liquidating the assets of the and of the Federal National affiliate Lynn, the State National Bank, said this that he had no idea would be named his successor in Boston or in Lynn. "I shall naturally continue in my job until successor is appointed, he told the Globe this morning, "and shall assist him after his appointment in every way possibly Mr Cunningham was asked whether he was going on to another job. He threw up his hands and said: are asking me things can't talk have nothing to say beyond the fact that I am tendering my resignation. He was appointed receiver of the Boston Continental Bank on Dec 28, 1931, and in May of this year was Continued on the Thirteenth Page

18. September 14, 1933 Fitchburg Sentinel Fitchburg, MA

Article from Fitchburg Sentinel, September 14, 1933

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Closed Bank Receiver Sends in Resignation BOSTON, Sept 14 (P)-John B. Cunningham, since Dec. 22, 1931, receiver for the closed Boston Continental National bank, has announced he has forwarded his res. ignation to the comptroller of the currency. At the same time he resigned as receiver for the State National bank of Lynn, a position he took over several months ago.

19. September 15, 1933 Springfield Evening Union Springfield, MA

Article from Springfield Evening Union, September 15, 1933

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Marston Leads Munger, Up Philadelphia Veteran Has Edge at End of First 18 Holes. KENWOOD COUNTRY CLUB, Cincinnati, Sept. Making comeback on the home Max R. Marston Philadelphia, veteran former title holder, gained lead two up over young Jack Munger of Dallas, Tex., after their first 18 holes of their 36-hole semifinal match in the Golf By side hill the finished the first 18 holes up on W. Lawson Little. of San Francisco. The New birdie broke up engagement for the time being. Named Bank Receiver. WASHINGTON, Sept. 15 (AP) James H. Brennan today was named receiver for Boston Continental National Bank and the State National Bank Lynn, succeeding John B. Cunningham. resigned.

20. September 16, 1933 The Morning Union Springfield, MA

Article from The Morning Union, September 16, 1933

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Named Bank Receiver. James H. Brennan today was named receiver for the Boston Continental National Bank and the State National Bank of Lynn. Mass, succeeding John B. Cunningham, resigned. California has more airports and landing fields than any other state, 214. The home of Schuyler Colfax. ones vice of the United States has been razed at South Bend. Ind

8162. State National Bank (Lynn, MA)

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