Western Bank - Springfield, MA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 12, 1860
Location: Springfield, Massachusetts (42.101, -72.590)

Metadata

Model: gpt-5-mini
Short Digest: f4794cb3

Response Measures

None

Description

Newspaper (Worcester Daily Spy, 1860-01-12) reports the first report of the receivers of ... the Western Bank of Springfield, indicating the bank had been placed in receivership and remained closed. No article text describes a depositor run; therefore classified as a suspension leading to closure/receivership. Date of receivership is not explicitly given in the excerpt; the report was presented to the legislature by Jan 11–12, 1860.

Events (2)

1. January 12, 1860 Receivership

Newspaper Excerpt: The Speaker laid before the House the first report of the receivers of the Peoples' Five Cent Savings Bank, and of the Western Bank of Springfield.
Source: newspapers

2. January 12, 1860 Suspension

Cause: Government Action
Cause Details: Bank placed in receivership and a receivers' report was presented to the legislature, indicating suspension by official action.
Newspaper Excerpt: The Speaker laid before the House the first report of the receivers of the Peoples' Five Cent Savings Bank, and of the Western Bank of Springfield.
Source: newspapers

Newspaper Articles (1)

1. January 12, 1860 Worcester Daily Spy Worcester, MA

Article from Worcester Daily Spy, January 12, 1860

Click image to open full size in new tab

Article Text

MASSACHUSETTS LEGISLATURE. Wednesday, Jan. I1. SENATE. Mr. UNDERWOOD of the Cape District, presented the petition of J. Kelly and others of Dennis, for the enactment of a law against slave hunting in Massachusetts. HOUSE. Petitions Presented and Referred-Of the Eagle Bank, for an increase of capital stock to the sum of $300,000 ; of John H. Clifford and others of New Bedford, to be incorporated as the Citizens' Building Association, with a cap. ital of $150,000; of J. V. C. Smith and others for the annexation of Charlestown to Boston ; of Wm. S. Andrews of Boston, for a law for the better preservation of wills of Cyrus L. Knight and 260 others of West Boylston, Henry Wilson and 93 others of Natick, R. A. Cook and 202 others of Provincetown, Thomas N. Stone and 202 others of Wellfleet, Wm. F. Fernald and 214 others of Boston and vicinity, for an asylum for the deaf and dumb. On motion of Mr. TUCKER of Boston, it was ordered that the Judiciary Committee consider the expediency of providing by law for the inspection of mills and other buildings occupied for manufacturing purposes, that those who work therein may be better protected from the dangers of fire and other casualties. On motion of Mr. STONE of Dedham, it was ordered that the Committee on the State House consider the expediency of restoring the original symmetry of the Representatives' Hall, and improving the ventilation thereof by removing the temporary boxes called balconies. On motion of Mr. GALE of Heath, it was ordered that the Committee on Mercantile Affairs and Insurance consider the expediency of a general law to authorize the inhabitants or citizens of towns and cities to form mutual insurance companies for the protection of property. On motion of Mr. TAYLOR of Chicopee, it was ordered that the Judiciary Committee inquire whether any, and if any, what provisions are necessary or proper to be made relative to actions of tort, where the wrong-doer or person sustaining an injury therefrom may die before any suit has been commenced, or while the same is pending. Voted, That on and after Jan. 16th, the Senate and House shall commence at 2 o'clock P. M., except on Saturdays, when they shall commence at 11 o'clock A. M. Monitors-The Speaker appointed the Monitors as follows First Division--Messrs. Cudworth of Medford, and Tucker of Boston. Second Division-Mersrs. Rice of Newton, and Gates of Lowell. Third Division-Messrs Howes of Dennis, and Dunnels of Boston. Fourth Division-Messrs. Babbitt of Windsor, and Chamberlain of New Bedford. Fifth Division-Messrs.Atwood of Wellfleet, and Stone of Waltham. Sixth Division-Messrs. Wales of Beverly, and Stallman of Lee. The Speaker laid before the House the first report of the receivers of the Peoples' Five Cent Savings Bank, and of the Western Bank of Springfield. Referred to the Committee on Banks, and ordered to be printed. The Secretary of State transmitted the annual reports of the Superintendent of Alien Passengers, the Liquor Commissioner, the Commissioner of Alien Passengers and Foreign Paupers, the Inspectors of the State Prison. Referred to the Committee on Public Charitable Institutions. Adjourned.