8263. Miners Savings Bank (West Stockbridge, MA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
January 4, 1897
Location
West Stockbridge, Massachusetts (42.346, -73.366)

Metadata

Model
gpt-5-mini
Short Digest
5e758e50

Response Measures

None

Description

An injunction was served prohibiting the paying out of money while a receiver is to be appointed; articles state the bank 'recently voted to wind up.' Action was to prevent a run, and a receiver will be appointed — indicating suspension leading to closure/receivership rather than a mere run or reopening.

Events (2)

1. January 4, 1897 Suspension
Cause
Voluntary Liquidation
Cause Details
Bank had 'recently voted to wind up'; injunction served to stop payments while winding up and to prevent depositor run.
Newspaper Excerpt
An injunction was served today on the Miners' Savings bank at West Stockbridge prohibiting paying out of more money. A receiver will be appointed.
Source
newspapers
2. February 1, 1897* Receivership
Newspaper Excerpt
A receiver will be appointed by February.
Source
newspapers

Newspaper Articles (4)

Article from Daily Kennebec Journal, January 5, 1897

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Article Text

NEWS NUGGETS. Brought by the Wires from North, East. South and West. L. R. Wallis, treasurer of the Laconia Gas Co., Laconia, N. H., has assigned. Liabilities, $17,000, largely secured; nominal assets. The Berlin Tageblatt asserts that France and Russia have agreed to intervene at Washington to prevent a breach between the United States and Spain. Victor Groce, an Italian. was found asphyxiated in his room at 7 Rutland avenue, Boston, Monday morning. A gas stove was found open. It was doubtless an accident. John P. Cummings, one of Nashua's (N. H.) prominent merchants and excity officials, died at his home, Monday, after a painful illness. He leaves a widow and two children. Denis Hickey, the 3-years old son of Peter Hickey, died at Portsmouth. Monday, of diphtheria, after a few days' illness. Three other children in the family are sick with the disease. Schooners Oliver Wendell Holmes, Maggie and May, and Margaret arrived at Gloucester, Monday, from Placentia Bay, N. F., with cargoes of frozen and salted herring. More than 15 cargoes of frozen herring are reported on the way to Gloucester, Boston and New York. An injunction was served. Monday, on Miners Savings Bank, West Stockbridge, Mass., prohibiting the paying out of more money. A receiver will be appointed. This action is taken to prevent a run by depositors, who will be paid in full, as the funds are safe, and most of the investments good. The bank recently voted to wind up. The bank was flourishing when the iron mines were in blast. but its business has disappeared within a few years, and there is little chance for growth. As soon as the news became public, the depositors became clamorous, and an injunction was thought the best way to prevent further trouble.


Article from The Portland Daily Press, January 5, 1897

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Article Text

Maine Polo League Standing. Percent. Lost Won. Clubs. 7 .730 19 Rockland, 10 .629 17 Portland, 1 .500 1 Gardiner, 14 .461 12 Lewiston, 18 .308 8 Bath, 17 .346 9 Augusta, Massachusetts Bank Closed. Pittsfield, Mass., January 4.-An injunction was served today on the Miners' Savings bank at West Stockbridge prohibiting paying out of more money. A receiver will be appointed. This action was taken to prevent a run by the depositors, who will be paid in full, as the funds are safe, and most of the investments are good. The bank recently voted to wind up. The bank was flourishing when the iron mines were in blast, but its business has disappeared with a few years and there is little chance for growth. As soon as the news became public the depositors became clamorous and an injunction was thought the best way to prevent further trouble.


Article from Connecticut Western News, January 7, 1897

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Article Text

Receiver for a Berkshire Bank. An injunction was served Monday on the Miners' Savings Bank of West Stockbridge, prohibiting the paying out of more money. A receiver will be ap. pointed by February. This action is taken to prevent a run by depositors, who will be paid in full. The bank recently voted to wind up.


Article from Spirit of the Age, January 9, 1897

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Article Text

To Prevent a Run By Depositors. PITTSFIELD Mass., Jan. 8-An injunetion was served on the Miners Savings Bank, West Stockbridge, prohibiting the paying out of more money. A receiver will be appointed by February. This action is taken to prevent a run by depositors.