8164. Maynard Trust Company (Maynard, MA)

Bank Information

Episode Type
Run Only
Bank Type
trust company
Start Date
June 8, 1923
Location
Maynard, Massachusetts (42.433, -71.450)

Metadata

Model
gpt-5-mini
Short Digest
6eb8ef15

Response Measures

Accommodated withdrawals, Books examined

Description

Multiple June 1923 newspaper dispatches report a one-day run triggered by the disappearance of teller John Garlick and discovery/reports of a teller shortage (initially reported $3,000-$5,000, later reported up to $22,000). The bank remained open (sent to Boston for currency, examined books) and was not reported to have suspended or closed; shortages to be covered by bond/reserve funds.

Events (1)
1. June 8, 1923 Run
Cause
Bank Specific Adverse Info
Cause Details
Disappearance of teller John Garlick and discovery/reports of a shortage in his accounts (initially reported $3,000-$5,000; later reported up to $22,000).
Measures
Bank kept open after hours, sent to Boston for currency, examined books; officials said any shortage would be covered by the teller's bond and reserve funds.
Newspaper Excerpt
A few depositors called for their money at the Maynard Trust Co. soon after the bank opened for business today but the run ... appeared to be over.
Source
newspapers

Newspaper Articles (7)
1. June 8, 1923 New Britain Herald New Britain, CT
Article from New Britain Herald, June 8, 1923

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Article Text

BANK TELLER LEAVES TOWN In Consequence, Many Depositors Ask Maynard, Mass.. Institution to Turn Over Their Funds-Run Is Ended. Maynard Mass., June 8.-A few depositors called for their money at the Maynard Trust Co. soon after the bank opened for business today but the run which led the officials to keep open after the usual hours yesterday and to send to Boston for currency, appeared to be over. President George H. Creighton said that examination of the books to determine the alleged shortage in the accounts of the teller, John Garlick. who has left town. probably would not be completed before tomorrow. He said that any shortage would be covered by bond and that the bank would suffer no loss.

2. June 8, 1923 Evening Star Washington, DC
Article from Evening Star, June 8, 1923

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Article Text

BOSTON, MASS. Special Dispatch to The Star. BOSTON, Mass., June 8. .-Disappearance of a bank teller and a shortage of $5.000 yesterday caused a run on the Maynard Trust Co. It oon was stopped. An airplane, automobiles, 217 gallons of liquor and 545 gallons of alcohol were seized in a raid at Somerville, and a liquor distributing point was broken up. Mrs. W. Thatcher Hollis, of Newton, who became known last year in buying six jobless men at auction, was arrested today for passing a worthless check. District attorney and grand jurors staged a ball game with convicts, which the latter won, 7 to 3. Five died of heat Wednesday before relief came from New England storms. The telephone company has refused more pay to girls. Strike vote is ordered June 19. Augustus C. Jordan, Aleppo Temple auditor, is dead in Roxbury. Mayor presented a key of the city to Francis Ouimet, golf champion. Mrs. Reuter, widow of the millionaire Brighton brewer, has married August Flamman, Brooklyn lawyer and former legislative member. Lightning killed twenty-four animals on Foxboro farm. Two men escaped the bolt. Another at Randolph hit eight houses. Stills were found in three. Auto bands held up Jacob Glassman, Cambridge collector, and escaped in stolen car. The cutter Acushnet seized a Gloucester traveler with hold full of whisky. A Boston fur dealer and a Brookline tailor have been indicted for a plot to get $20,000 insurance.

3. June 8, 1923 The Washington Times Washington, DC
Article from The Washington Times, June 8, 1923

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Article Text

Boston James J. Cavanaugh was instantly killed when 4,600 volts of electricity passed through his body while he was at work on a pole in Roxbury. After believing himself legally free from h.s first wife for eleven years, Howard J. Ayers, of Wollaston, now faces a divorce suit filed by wife No. 1 and possibly other complications because of wife No. 2. Ayers explains he believed he was divorced, saying a lawyer served papers on his first wife eleven years ago and told him the case apparently was not to be contested. An alleged plot to defraud an insurance company of $20,000 by the report of a bogus robbery was revealed in the arrest of Louis Blackstone, proprietor of a Boylston street fur store, and Joseph Rosenthal, on secret indictments. Employes of the Boston and Middlesex Street Railway will take a strike vote today. The question is whether the workers will walk out in support of an operator of a one-man car who was discharged after he had been in a collision. The story of a fifty-years' courtship, which ended only with the death of Augustus *F. Mead, of Danversport, was told in Essex Superior Court by Miss Mary F. Gallivan, who brought suit against the Mead estate to recover all but $150 of $10,000 which she claimed Mead promised to leave her in his will. The case was settled for $1,500 just before Miss Gallivan was to take the stand. The disappearance of the teller, John Garlick, and a reported shortage, led to a run on the Maynard Trust Company, of Maynard. A State accountant and an expert of the bank are going over the books.

4. June 11, 1923 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, June 11, 1923

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Article Text

BANK TELLER MISSING Over $3,000 Shortage Found-Warrant Issued MAYNARD, Mass., June 10.-Fallure to find John Garlick, missing teller of the Maynard Trust company, has resulted in the issuance of a warrant for his arrest. He is charged with embezzlement following the discovery of a shortage of between $3,000 and $5,000 in his accounts. The young teller's downfall is attributed to high living and gay parties in Boston cafes. His disappearance a week ago caused a run on the savings department of the bank, which ended only after many depositors had withdrawn their savings. Young Garlick's father has given assurance that he will make good the amount for which his son is responsible.

5. June 12, 1923 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, June 12, 1923

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Article Text

Missing Teller Maynard Trust Arrested at Home Maynard, Mass., June 11-John Garlick, former teler at the Maynand Trust company here, who disappeared June 2, was arrested tonight at his home here. He was charged with larceny of $500 from the trust company, and is held in $10,000 bail. After Garlick left town reports of 2 shortage led to a one day run on the bank. Bank officials estimated the shortage in the teller's accounts at about $5,000. Garlick was bonded for $10,000. It was said that the bonding company will prefer another complaint when the former teller is arraigned in Concord district court tomorrow. Garlick telephoned his parents this morning from New Haven, Conn., that he was going to give himself up. He came to Boston by automobile and was met in that city by his parents who accompanied him home.

6. June 12, 1923 New Britain Herald New Britain, CT
Article from New Britain Herald, June 12, 1923

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Article Text

RETURNS FOR ARREST Maynard. Mass 8 June 12-Jahn Garlick fermer teller at the Maynard Trust company. who disappeared June 2. was arrested last night at his home here. He was charged with larceny of $5,000 from th trust company, and held in $10,000 ball. After Garlick left town reports of a shortage led to a one-day run on the bank Bank officials estimated the shortage in the teller's accounts at about $5,000, It was said that the bonding company will prefer another complaint when the former teller is arraigned in Cancord district court to.

7. June 20, 1923 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, June 20, 1923

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Article Text

Maynard Tellers Shortage $22,000 Boston, June 19-The shortage in the accounts of John Garlick, former teller of the Maynard Trust Company in Maynard, will not exceed $22,000, it was announced tonight after a conference between bank commissioner, Joseph C. Allen and President George H. Creighton of the Maynard bank. The shortage had previously been estimated at $5,000 by bank officials. Bank Commissioner Allen stated that the bank's finances were in excellent condition and that the 12,000 shortage not covered by the teller's bond would be made up from the reserve fund. Garlick, whose disappearance coupled with rumors of a shortage caused a one day run on the bank early this month, has surrendered to the authorities.