Reading Savings Bank - Reading, MA

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: January 1, 1879*
Location: Reading, Massachusetts (42.526, -71.095)

Metadata

Model: gpt-5-mini
Short Digest: 7e871100

Response Measures

None

Description

Article reports the Reading Savings Bank failed in 1879 due to a treasurer's defalcation and has been in liquidation since; in 1890 the Supreme Court ordered a final dividend. No run is mentioned. I treat the 1879 failure/liquidation as a suspension/closure with receivership.

Events (2)

1. January 1, 1879* Receivership

Newspaper Excerpt: The bank failed in 1879 owing to a defalcation of the treasurer, Nathan Pratt, and ever since then has been in liquidation.
Source: newspapers

2. November 5, 1890 Other

Newspaper Excerpt: Judge Holmes ordered the receiver of the Reading Savings bank to pay a final dividend of 13 per cent., making a total of 50g per cent. which the depositors will receive.
Source: newspapers

Newspaper Articles (1)

1. November 5, 1890 The Madison Daily Leader Madison, SD

Article from The Madison Daily Leader, November 5, 1890

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Article Text

Ordered a Final Dividend. BOSTON, Nov. 5.-In the supreme court Judge Holmes ordered the receiver of the Reading Savings bank to pay a final dividend of 13 per cent., making a total of 50g per cent. which the depositors will receive. The sum to be disbursed amounts to about $20,000. The bank failed in 1879 owing to a defalcation of the treasurer, Nathan Pratt. and ever since then has been in liquidation.