1.
July 16, 1930
The Boston Daily Globe
Boston, MA
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SHORTAGE CAUSES MILLBURY BANK RUN
Police Handle Crowd-Commissioner Terms Institution "Sound"
MILLBURY, July 16-News of shortage placed officially at $1000, and unofficially at between $10,000 and $15, 000, in the funds of the Millbury Savings Bank, caused serious on the bank today, despite statement from Bank Roy Hovey that the bank sound. When the bank opened this morning, 50 persons were waiting to take out their money. Later large crowd, mostly of mill workers, appeared and the whole police force called out. Savings Banks don't collapse, said Mr Hovey. The shortage has caused the suspension Smith, the treasurer, could not be located today. Miss Vere Hagstrom, for many years clerk the bank, has been missing from Millbury for two weeks and no one knows where she is. Commissioner Hovey, pending complete examinaton of the books, would not commit himself as whether the shortage was due theft or inefficiency is known that he requested the board of investment to ask Smith to resign, and that the treasurer refused to and removed. Mr Smith is bonded for $55,Evans, vice president of the Worcester County Na. tional of Worcester, has been loaned to the Millbury Savings Bank temporarily to help out in the situation during the run and the examination of books. Mr Hovey says that the Millbury Savings Bank surplus of $400,000 and securities worth $1,125,000. A dividend was declared yesterday, which will cost between $100,000 and $150,000. The bank has deposits $5,050,750. according to the latest reliable G. Dudley is president of the bank; the vice presidents are Henry W. Carter, H. M. Goddard and F. W. Moore, and the board of investment consists of these officers, with Charles G. Whitney. The bank, said Mr Hovey, will be open for business morning. Ira P. Jenks, State bank examiner, who looked over the books, said the bank will easily weather run. At noon the crowd at the bank ap500, and though was orderand Chief Police Police Thomas Dolan called on the State for assistance. The County Bank this morning rushed $200,000 in an ar- mored truck with an armored escort to the bank, that there would be plenty of funds to take care of the run,
WITHDRAWALS LED TO AUDIT ORDER, HOVEY ADMITS State Bank Commissioner Roy a Hovey today admitted that the announcement last week of heavy withdrawals from the Millbury Savings Bank at Millbury, led him to direct that an audit of the books be made. The said today that although he believes that the bank condition is sound. there in As result he had advised that one office of the bank should be held by person other than the one who has been holding the post. Beyond this the commissioner would make no comment.
2.
July 16, 1930
The Record
Hackensack, NJ
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START RUN ON BANK; POLICE ARE CALLED
(By Associated Press) Mass., July workers in the town of Millbury started run the Millbury Savings bank today following circulation of story that there shortage in the bank's funds. The entire police force of the town called out keep the deposiorder as they withdrew their funds.
3.
July 16, 1930
The Brattleboro Reformer
Brattleboro, VT
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BANK SHORTAGE
Bookkeeper Conceals Loss at Providence for Five Years
FORCED TO COVER FRIEND'S OVERDRAFT
Has Not Profited Cent by Illegal Dealings-Heavy Run On Milbury SavBank Started Reports Of Bank's PROVIDENCE. July 16 Examination the books of the National Bank of by full to federal officials, has revealed that Peter Simonini, bookkeeper, concealed for five years of $246,000 in the funds the bank. Simonini arrested Monday night, before United Fred Otis charge of making false entries. and held in officials believe. that he has not profited cent his illegal Five years ago to allow an $6,000, hookkeeper said in made Saturday, the man promised make the following Monday. Simonini, without informing bank said he allowed the overdraft. On Monday made repeatedly forced drafts had proportion, said. the bank's $246,000 short The current examination revealed the losses covered by and the profits than million preclude any serious the institution, officials authorities have refused reveal the name of the man the hope recover some and the father several
Workers Withdraw Funds. WORCESTER, Mass., 16 entire town Millbury called when the Savings shortage followed audit acbanking officials excaused $400,000 County National Worcester to provide funds the demands frightscores of workers from the Millbury factories. An the was ordered Comsioner pressed opinion bank funsound but admitted there were counts that had advised office should be placed than the person occupied the position. the from bank today small was that during the than 300 been finally great Chief Police Thomas Dolan asked aid from the state police.
4.
July 17, 1930
New Britain Herald
New Britain, CT
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BANK OPEN TODAY DESPITE SHORTAGE $150,000 Withdrawn in Millbury Case-Treasurer Fired Millbury, Mass., Juyl 1 7(AP) - The Millbury Savings Bank opened for business today despite a run yesterday during which 162 accounts were closed out and $150,000 was withdrawn. A shortage of $6.000 in the mortgage accounts was admitted by officials last night after a meeting attended by State Banking Commissioner Roy A. Hovey. They said they could not tell whether it was due to larceny or mismanagement. The office of Treasurer Ernest L. Smith, who refused to resign, was declared vacant and a committee was appointed to select a successor. The run assumed large proportions quickly. after rumors of the shortage became known, and state and local police aided in keeping the crowds in order. During the day large sums were brought from a Worcester bank.
5.
July 17, 1930
The Ithaca Journal
Ithaca, NY
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RUN FAILS TO CLOSE BANK Millbury, Mass., July 17-(P) The Millbury Savings Bank opened for business today despite a run yesterday during which 162 counts closed out and $150, 000 was withdrawn.
6.
July 17, 1930
The Boston Daily Globe
Boston, MA
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SAVINGS BANK RUN AT MILLBURY ENDS
Officers Invoke 90-Day Clause When Money Rush Continues
MILLBURY, July 17-The run on the Millbury Savings Bank was ended at 11 a m, when the 90-day moratorium clause was invoked under the Massachusetts law for the protection of banks. The run on the bank con- tinued all morning, unabated. At
11 o'clock attorney Thomas Sullivan came out of the bank with a prepared statement. Mr Sullivan summoned the depositors around him and made an explanation. He said that he was not the counsel for the bank, and that he was merely interested in it as a citizen of Millbury. Mr Sullivan proceeded to read the prepared statement. The statement asserted that a meeting of the directors of the Millbury Savings Bank had been held last night, and at the meeting It was voted to declare the 90-day clause in effect. This vote, he said, was ratified this morning by a meeting of the trustees The statement explained that each depositor might get up to $100 of his money by signing a receipt for the amount. More than 200 then filed into the bank to get the $100, or less if their deposits didn't amount to that sum. The balance is to be paid within 90 days. at 10:45. Attorney Sullivan declared, after reading the statement, that he, himself, had money on deposit in the bank, which he intended to keep there. He explained to the depositors gathered around him something about the bank's business. He told them that 70 percent of the bank's money was invested fn real estate first mortgages, and that since the first mortgages could not be converted readily into liquid cash, it would be impossible for the bank to
Continued on the Twelfth Page
7.
July 17, 1930
The Tribune
Scranton, PA
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Rumor Cazses Run on Bank
Report of Shortage Leads De. positors to Demand Funds; All Claims Being Met
MILLBURY. Mass., July 16 A rumor today precipitated of run depositors on the Millbury Savings bank which day although depositors were steadily paid and State Bank Commissioner Roy Hovey expressed the opinion that the bank was fundamentally sound. The rumor which caused the run and carried the report that there was shortage in the The entire town police and state troopers were to keep among those seeking to withdraw their counts. Although depositors were mitted regularly in groups of two dur-
8.
July 17, 1930
The Rutland Daily Herald
Rutland, VT
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REPORT STARTS RUN ON SAVINGS BANK
Millbury, Mass., Depositors Are Paid, Excepting 200.
MILLBURY, Mass., July precipitated run rumor today depositors the Millbury bank which continued throughalthough depositors paid and State Bank steadily Roy the opinion the bank fundasound. which caused the The and carried report that there shortage The entire police force state trooprequired keep order those withdraw their accounts. Although deposiwere admitted regularly during day, about groups 200 persons were still waiting line the regular closing The officials hour, today. said, will opened the regular morning.
9.
July 17, 1930
The Morning Press
Bloomsburg, PA
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BERWICK WOMAN DEAD
Mrs. Joseph Fedin Expires in Hospital
The death of Mrs. Joseph Fedin, aged of Berwick, occurred at the BloomsHospital last night. Mrs. Fedin had been patient at the Institution for a week following an operation. She is surviyed by her husband and several children, among whom is Mrs. Newhard, of Rupert.
RUN ON SAVINGS BANK CONTINUES ALL DAY Millbury, Mass., July 16 (P)-A rumor today precipitated a run of depositors on the Millbury Savings Bank which continued through the day although depositors were steadily pain and state examiner Roy Hovey expressed the opinion that the bank was fundamentally sound. The rumor followed a recent audit and carried the report that there was/a shortage in the bank's accounts. The entire town police and state troopers were required to keep order among those seeking to withdraw their accounts. About 200 persons still waited in line when the bank closed, but officials said the institution would open at the regular hour tomorrow. The most recent statement showed deposits of $5,050,750.
Awarded Contract F. P. Edwards at bid of $2,362 has been awarded the contract for the general work on the transformer house at Mansfield State Teachers' College.
Daughter Born. A daughter was born yesterday to Mr. and Mrs. Clark Kennedy, of East street.
Twenty different kinds of turtles are found in North Carolina.
10.
July 17, 1930
The Buffalo News
Buffalo, NY
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MILLBURY BANK OPENS DESPITE $150,000 RUN
MILLBURY Mass. The Milibury Savings bank opened for business today despite run yesterday during which 162 accounts were closed out and was shortage of $6000 in the mortgage admitted by officials last night meeting attended by Bank Roy Hovey They said they could not tell whether was due to larceny or ment run assumed proportions quickly of became state and local the order. During the day sums were brought Worcester
RAID RUMORS DISCREDITED MILLBURY Mass. July 17 (U.P rumors holdup men planned to raid the homes of workers who had most from the Savings bank added to this today. About 700 accounts were withdrawn in yesterday's on the bank. but during the several persons returned with the deposits. State Bank Roy said there was no danger of the institu-
TO VOTE ON MERGER NEW YORK July 7.-Meetings of stockholders of Pan American PetroleTransport company and Lago Oil & Transport corporation will be held Aug. 18 to vote on an agreement to merge Under the agreement holders of Oil will receive one-half share of Class common American for each share of Lago. About 97 per the are owned now by Pan American.
11.
July 17, 1930
The News-Star
Monroe, LA
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ALL OF POLICE FORCE CALLED BY RUN ON BANK
Reports of Shortage Follow Auditing of Books.
WORCESTER, Mass., July 17.-The entire police force of the town of Millbury was called out today when depositors of the Millbury Savings bank started run on the institution as result of reports of shortage that followed audit of the bank's accounts. Although state banking officials expressed belief the bank was sound, the heavy withdrawals caused transfer of $400,000 from the Worcester County National bank in Worcester to provide funds to meet the demands of the frightened depositors, who included scores of workers from the Millbury An audit of the institution was ordered last week by State Bank Commissioner Roy E. Hovey, the commissioner announced in Boston. He expressed the opinion the bank was fundamentally sound but admitted there were differences in the accounts. Although most of the withdrawals from the bank today were in small amounts, one of $11,000 was reported. The crowd finally became so great that Chief of Police Thomas A. Dolan asked aid from state police.
12.
July 18, 1930
The Boston Daily Globe
Boston, MA
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TODAY'S GLOBE CONTENTS
Page Mystery found in taking of doors by police at Funeral of Goldsborough at New York today. Mrs Ruth Anderson, shot by her husband, who then committed suicide, improves; jealousy vause, she says. Searchers fail to find any trace Lawrence True, who disappeared Swampscott. Death Notices.
Page 8 Parade and special program to feature Brewster 300th fete. Bethlehem Steel head testifies his salary is $12,000 and "1½ percent. Earl Carroll and three others held for trial in New York on charges of giving Fire at Falmouth results in two injuries. City Treas Lehan of Cambridge says his Russell's letter to City Council charging neglect. Secretary of Navy Adams commends Lieut Lord in rebuilding "Old Ironsides. McCormick inquiry suspends for month. Atty Gen Warner assigns Louis H. Sawyer to open campaign on securities frauds and conferences are held with victims and alleged operators. Page
Replies to Briand's proposal for PanEuropean union reach 20 with arrival of British note. Mayor Russell chats across ocean with Mayor Franklin of Cambridge, Eng. Utilities Commission hears Charlestown Gas consolidation petition; Crowley in opposition. Mrs speaks Florence Vail of Arlington wins $40 week temporary support as divorce action opens. Page 10
National League Results- Pittsburg 6, Boston 2; New 12, St Louis 9; Chicago 6, Brooklyn 3; Cincinnati 14, Philadelphia.9 American League Results- Boston 12, Detroit 2; Philadelphia 12, Chicago Cleveland Washington 3; New York 16, St Louis St Mark's defeats Madden Club, 11-3, and wins Dorchester title. Hub Twi League results. Page 11 A1 Singer wins lightweight title by knocking out Sammy Mandell in first round at New York. Granite Trust defeats National Shaw. mut, 4-0. Osterville rallies in ninth to defeat Hyannis, 8-7. Malden Dorchester game ordered replayed in Greater Boston League. Page 12 Pennsylvania golfers prove real menace the women's invitation golf tournament at Shennecossett Country Club. Oyster Harbor increases lead in Cape Cod Women's Golf Club. Worthy Fletcher wins at Greenfield track. United States soccer team beats Paraguay in world series match. The Sportlight.
Page 13 Barry Wood, star, and Clitford Sutter of New Orleans clash today in Bowl tennis. East vs West in women's tennis singles on Longwood courts today. Eastern Point leads Curtis Cup junior yacht racing with eight points. Mohawk wins South Boston Y. C. twilight races for skippers. Carnera knocks out Bearcat Wright. Page 14 Opening of the fenced Wolcott-sq park in Readville urged by Councilor Norton. Run on Millbury Savings Bank nearly as moratorium of 90 days is declared.
13.
July 18, 1930
Bristol Herald Courier
Bristol, TN
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BANK MUST GIVE 90 DAYS NOTICE TO MILLBURY INSTITUTIONS
Mass. July Roy from his office today said there may be shortage between $5,000 $6,000 the Savings scene run yesterday which resulted the calling police The run the bank threatened continue today the bank availed itself of that provision requiring 90-day notice this action approved by long line depositors waited opening of the bank this mornbut depositor only $100 the balance accounts will be paid within parties want Money to meet the rush with. drawals rushed from Worcester yesterday
14.
July 18, 1930
Record-Journal
Meriden, CT
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Millbury Savings Bank Opens Despite Heavy Run
Millbury, Mass. July 17-(AP) The Millbury Savings bank opened for business today despite a run yesterday during which 162 accounts were closed out and $150,000 was withdrawn. A shortage of $6,000 in the mortgage accounts was admitted by of ficials last night after meeting attended by state bank commissioner Roy A. Hovey. They said they could not tell whether it was due to larceny of The office of treasurer Ernest L. Smith, who refused to resign, was declared vacant and a committee was appointed to select successor. The run assumed large proportions quickly, after rumors of the shortage became known. and state and local police aided in keeping the crowds in order. During the day large sums were brought from Worcester bank.
15.
August 1, 1930
New Britain Herald
New Britain, CT
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Milbury Bank Officer Arrested in Shortage Worcester, Mass. Aug. 1 (UP) Ernest L Smith, deposed treasurer of the Millbury Savings bank. has been arrested here on charges of misappropriation of the institution's funds. After citizens of Millbury learned last July 15 of Smith's removal, they started a two-day run on the bank and withdrew more than $200,000. Later most of the money was re-deposited and the bank's business at present is normal. Ira N. Jencks. state bank examiner. estimated the shortage at the Millbury Savings bank as about $6000.
16.
August 1, 1930
The Brooklyn Daily Times
Brooklyn, NY
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EX-BANKER ARRESTED
Shortage in Accounts Placed at $6,000 by Examiner.
Worcester, Mass., Aug. 1.-Ernest L. Smith, deposed treasurer of the Millbury Savings Bank, has been arrested here on charges of misappropriation of the institution's funds. After citizens of Millbury learned last July 15 of Smith's removal, they started two-day run on the bank and withdrew more than $200,000. Later of the was redeposited and the bank's business at present is normal. Ira N. Jencks, State Bank ExamIner. estimated the shortage the Millbury Savings Bank as about $6,000.
17.
September 9, 1930
The Boston Daily Globe
Boston, MA
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FATE OF BANK HANGS UPON 576 DEPOSITORS
Special Dispatch to the Globe Sept the good will of 576 depositors, who have signified their intention of all their funds, rests the fate of the Millbury Savings Bank which underwent a severe crisis recently during "run" that followed discovery $63,000 If these depositors will revoke their decision to withdraw their money the bank will saved, Jay Clarke counsel for the bank. tonight told 1000 persons from Millbury, Springfield and Boston who attended mass held in the Town Hall. If they persist in their purpose of withdrawing their deposits, Mr Clarke declared, the bank will probably be unable to stand the strain and will be turned over State Bank Commissioner Roy Hovey order that assets may be liquidated to meet the demands of all depositors.
Says Depositors Hold Key Mr Clarke was the principal speaker at the His appeal in the interests of bank the other speakers, John W. chief accountant of the auditing firm which over the books; Leander president of the Mechanics Bank Dennis president of the Bancroft Trust Company of Thomas Sullivan, president the Bay State Bank Worcester, and W. Windle, new president of the Millbury Bank. deposits of the 576 in persons Mr Clarke explained, total $1,010,000. He said that order assure the complete safety of the bank will be necessary 80 percent number the Clarke before tion He estate the bank by changes in taken care of surplus. The shortage he stands covered
Says Institution Is Sound The Mr his sound mands time would tion all hardship persons ous He the forced to the liquidate its and the the expressed the mit to sound special tices will be the positors notices, to and the express the of depositors to their money in the the of meeting the 1000 persons in the officers of the institution.
18.
October 14, 1930
The Boston Daily Globe
Boston, MA
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BANK CLOSED AT MILLBURY
Said to Be Solvent After Assets Are Liquidated
MILLBURY, Mass, Oct 14 (A. Rahostey took Bank today of Millbury Savings Bank, the doors of which are to be closed until the affairs of the institution have been straightened. It is said to be solvent, if time is given to handle the assets. The owners of the 5,500,000 deposits which will still remain, will, it is believed, according to the bank authorities, get dollar for dollar. The bank is at present earning* its dividends, to Jay Clark who issued this on behalf of the depositors to a total of nearly $500,000 who days tomorrow notice of withdrawal will not get their gave money any sooner that other also representing $500,000 of group who days' tice and withdrew it. All depositors will share alike. Before the run on the bank which followed the discovery of irregularities the of Ernest Smith, then part treasurer in State Prison for his crimes, deposits totaled Almost immediatel upward of $50,000 withdrawn in run which started with the very quickly to the positors and holders of larger To protect depositors whole the trustees took advantage of the statute which compels 90 days' $100. withdrawals These notices will begin to expire to. morrow.
19.
October 15, 1930
The Springfield Daily Republican
Springfield, MA
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MILLBURY SAVINGS BANK IS DECLARED SOLVENT
State Commissioner Hovey Takes Charge No Losses Are Expected
Millbury, Oct. 14- (AP) -Bank Commissioner R. A. Hovey took possession today of Millbury Savings bank, the doors of which are to be closed until the affairs of the institution have been straighter-ed It is said there is no intention of liquidating. The bank is said to be solvent if time is given to handle the assets. The owners of the $5,500,000 deposits which will still remain, will, it is believed, according to the bank get dollar for dollar. The bank at earning its dividends according to Atty Jay Clark, Jr., who issued this statement on behalf of the trustees. But depositors to total of nearly $500,000 who 90 days ago tomorrow gave notice of withdrawal, will not get their money any sooner than that other group also representing $500,000 of deposits who also gave the 90 days notice and withdrew it. All depositors share alike. Before the run on the bank which followed the discovery of irregularitles on the part of Ernest L. Smith, then treasurer, now in state prison for his crimes, deposits totalled upward of $6,000,000. Almost immediately upward of $50.000 was withdrawn in a run which started with the small depositors and quickly extended to the holders of larger amounts. To depositors as a whole the trustees took advantage of the statute which compels 90 days notice of withdrawals of sums in excess of $100. These notices will begin to expire tomorrow.
20.
October 15, 1930
The Boston Daily Globe
Boston, MA
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STATE TAKES OVER BANK AT MILLBURY
Pres Wendle Plans to Pay Folk Out of Own Fund
MILLBURY, Oct 14-It was nounced today that the Millbury Savings Bank, which is regarded as solvent, will be taken by Bank Commissioner Roy A. Hovey and state agent will be placed in charge temporarily. The bank will still continue to action was taken early tonight after the had been in session the day. During the meetthe resignation of Richard D. Lee, formerly ing of the Malden Savings Bank, accepted. reason given. He was treasurer only two ago. William W. Wendle, president of the institution, today that he will pay $35,000 Christmas Club will posits from his own funds. He make the payments, when they come due, shortly before the holiday The doors of the bank will remain open despite all the difficulties the institution has The money of the be fully tected and, that they will receive dollar for dollar. The tire trouble followed the discovery irregularities on the of Ernest Smith, then treasurer, now in State Prison, when run on the bank was started by the small depositors.
21.
October 28, 1930
The Boston Daily Globe
Boston, MA
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FEW ASK FOR LOANS AT MILLBURY BANK
New Treasurer Takes Over Duties at Reopening
Special Dispatch to Globe MILLBURY, Oct 27-The Millbury Savings Bank, which suspended business on July 17, following the declaration of a 90-day moratorium against withdra resulting from run started when it was discovered that the treasurer, Earnest L. Smith, was short in his accounts, was opened for business this afternoon under the nanagement of a new treasurer, John H. Maxwell of West Somerville. The depositors are still unable to withdraw their accounts, but are permitted to borrow up to 75 percent of their deposits. About dozen depositors were when the bank doors and borrowe funds, most of them to pay taxes and other such bills. There was nothing like the number expected to make loans. Mr Maxwell, the who was elected last Saturday, was many bouquets by friends he has made town since he came here last July to conduct the investigation, which revealed Smith's shortage.
22.
December 17, 1931
The Republican
Springfield, MA
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MILLIONS PLEDGED
Continued from Page One notice posted at the bank's en caused by public the assets the due course depositors the Boston bank have asked the rency take of the institution.
Williams, chief bank examiner temporary charge closed aided Her receiver the Federal bank, was present the bank Pearson that as far could learned National affiliated closed He said that he staff that Schramm Jersey, mem Trust was the tution today The Clearing House banks sent Credit corporation. the branch of the national group. sent of sent $300,000 on deposit in the National it the State House. 90 Day Notices Posted posted today the banks in Lowell the savings department of the Trust company and the Millbury Savings bank, at the bank commisThe National bank of five city According the bank commissioner's the July last, amounted to The paid capital December, 1930, the Boston National
23.
December 18, 1931
The Springfield Daily Republican
Springfield, MA
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HAMDEN (CT.) BANK ALSO CLOSES DOORS
90-Day Clause Invoked in State ton Bank Stockholder Promises Pay in Full
Boston, Dec. banks New England closed their doors day as the result of heavy withdraw-
The institutions which either did not open for business which closed late the the nental National Boston: the Hamden Bank and Trust company of Hamden, Ct., the Arlington Trust company and the Plymouth County Trust company of Brockton. The financial status the banks at time official statements tinental, capital stock $1,000,000, surplus, ArlingTrust, deposits County, deposits of $3,816,Another Boston bank, the Grove Hall that bank open again meet The after all-day run the advice Bank Arthur Guy. Invoke Clause
The banks Lowell the saving department the Trust company Boston the Millbury Savings bank 90-day banks require notice of intent funds. The officials dinarily heavy caused by general order the assets the bank, orderly pay full. the the Bostonbank the troller currency to take possesthe president the bank, Terrell and youngest in would the ordinary on dollar would be paid depositors. We
24.
December 18, 1931
The Springfield Daily Republican
Springfield, MA
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FOUR BANKS CLOSE IN MASSACHUSETTS AND CONNECTICUT
Lawrence and Boston, Brockton Institutions Affected by Runs
HAMDEN (CT.) BANK ALSO CLOSES DOORS
Clause Invoked in State Bank Stockholder ton Promises Pay in Full
Boston. Dec. banks in New England closed their doors tothe result of heavy withdrawday als.
The institutions which either did not open for business which closed the day the nental National bank of Boston: the Hamden Bank and Trust of Hamden, company and County Trust financial status the banks at The the time their last official statements capital tinental, stock surplus, assets ArlingTrust deposits County, deposits of $3,816,Boston the Grove Another Hall Savings closed the bank would again meet action was taken after all-day and upon Arthur Guy. Bank Invoke Clause bank at Lowell The the department Trust company Boston the Millbury Savings bank the Millbury banks 90-day clause notice of intent require funds. The officials withdrawals caused dinarily heavy uneasiness and order general public conserve the assets of the bank. which. in course orderly liquidation, should pay all full, the Bostonbank the troller currency to take possesthe The president the bank, Terrell M. Ragan, 37 years old and reported the youngest president in said, would expected that through the ordinary cents on dollar would be paid depositors. We
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