Third National Bank & Trust Company

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 308
Charter Number: 308
Start Date: March 6, 1933
Location: Springfield, Massachusetts (42.101, -72.590)

Metadata

Model: gpt-5-mini
Short Digest: 8d0011e5

Response Measures

None

Description

Article (dated 1933-03-11) describes Springfield National Bank applying to Federal Reserve in Boston to resume full functions after the recent bank closings under the national bank holiday. No run on this bank is described. Cause of suspension is government action (the national banking holiday / emergency bank closures in March 1933).

Events (4)

1. March 10, 1864 Chartered

Source: historical_nic

2. March 6, 1933 Suspension

Cause: Government Action
Cause Details: Banks had been closed under the national banking holiday; institutions now applying to Federal Reserve to resume operations.
Newspaper Excerpt: the petitions of local banks to resume functions in full were to Boston this afternoon while local bankers waited with greater confidence than heretofore that near-normal business will be restored in Springfield ... The Third National Bank and Trust company and the Springfield National bank sent their applications to the Federal Reserve headquarters in Boston as Springfield members of the Federal Reserve.
Source: newspapers

3. March 11, 1933 Other

Newspaper Excerpt: Commercial banks were busy in the work of furnishing payrolls up to the $25 maximum per employe ... officers of the local institutions must declare that the petitioning bank is solvent ... The petitions ... were sent to the Federal Reserve headquarters in Boston ... to have them on hand and the machinery in order clear them as soon as the authorization comes through next week.
Source: newspapers

4. March 11, 1933 Reopening

Newspaper Excerpt: the Springfield National bank sent their applications to the Federal Reserve headquarters in Boston ... local bankers waited with greater confidence ... that near-normal business will be restored in Springfield ... accept the checks held by their customers for collection in order to have them on hand and the machinery in order clear them as soon as the authorization comes through next week.
Source: newspapers

Newspaper Articles (1)

1. March 11, 1933 The Republican Springfield, MA

Article from The Republican, March 11, 1933

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Article Text

MUST DECLARE SOLVENCY AND ENOUGH ASSETS TO MEET NEEDS Clients Asked to Bring in Their Checks for Clearance Today By airplaine, train and automobile the petitions of local banks to fesume functions in full were to Boston this afternoon while local bankers waited with greater confidence than heretofore that near-normal business will be restored in Springfield The Third National Bank and Trust company and the Springfield National bank sent their applications to the Federal Reserve headquarters in Boston as Springfield members of the Federal Reserve. The petitions of the other local commercial banks were sent to the state banking commissioner. Savings banks had received no notice of for them to use, but looked for reopening next week with restriction on withdrawals. All banks today were operating the same as yesterday. Commercial banks were busy in the work of furnishing payrolls up to the $25 maximum per employe, while both commercial and savings banks to lease up to $10 to depositors for the necessities life. Must Declare Solvency In making the application to reopen,* the officers of the local institutions must declare that the petitionfing bank is solvent and with assets of sufficient value to more than cover all liabilities other than its own stock Habilities. The are signed by the president and the treasurer or cashier. Before closing their doors for the day this afternoon local bankers nounced that they will now accept the checks held by their customers for collection in order to have them on hand and the machinery in order clear them as soon as the authorization comes through next week. The advance acceptance will facilitate the