First National Bank - Woburn, MA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 746
Charter Number: 746
Start Date: July 29, 1904
Location: Woburn, Massachusetts (42.479, -71.152)

Metadata

Model: gpt-5-mini
Short Digest: 8b6e2813

Response Measures

None

Description

Directors voted to allow the charter to lapse and place the bank in liquidation (voluntary). No run or external distress is mentioned. Article dated July 29, 1904 (Woburn, July 29). Charter expires Jan 18, 1905.

Events (3)

1. January 24, 1865 Chartered

Source: historical_nic

2. July 29, 1904 Suspension

Cause: Voluntary Liquidation
Cause Details: Directors recommended permitting the charter to lapse at expiration (Jan 18, 1905) and placing the bank in liquidation; voluntary winding up of the bank's affairs.
Newspaper Excerpt: The directors of the First National bank have voted to recommend to the shareholders that the charter of the bank, which will expire on January 18, 1905, be permitted to lapse and that the bank be placed in liquidation.
Source: newspapers

3. January 18, 1905 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. July 30, 1904 Daily Kennebec Journal Augusta, ME

Article from Daily Kennebec Journal, July 30, 1904

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Article Text

IN LIQUIDATION. First National Bank at Woburn, Mass., Will Suspend. Woburn, Mass., July 29.-The dircetors of the First National bank have voted to recommend to the shareholders that the charter of the bank, which will expire on January 18, 1905, be permitted to lapse and that the bank be placed in liquidation. The bank was OIganized in 1893, reorganized in 1865, and has a capital of $200,000 a surplus of $90,000 and deposits of about $300,000.