Provident Security & Banking Company (Boston, MA)

Episode Information

Episode UID
9992343691273
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
999234369 hash
Start Date
January 11, 1906
Location
Boston, Massachusetts (42.358, -71.060)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
12dc1614895ff189

Response Measures

None

Description

State savings-bank commissioners and a receiver are explicitly involved; institution described as defunct.

Events (2)
1. January 11, 1906 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended due to failing affairs and apparent insolvency; state commissioners accused of negligence
Newspaper Excerpt
investigation today of the suspension of the Provident Security and Banking company of this city
Source
newspapers
2. February 2, 1906 Receivership
Newspaper Excerpt
Charles F. Weed, one of the receivers of the defunct Provident Security and Banking company ... stated ... he was just as hopeless of the situation as ever.
Source
newspapers

Newspaper Articles (2)
1. January 12, 1906 Arizona Republican Phoenix, AZ
Article from Arizona Republican, January 12, 1906

Click image to open full size in new tab

Article Text

BANK COMMISSIONERS. Neglected. Duty in Case of the Boston Provident Concern. Boston, Jan. 11.-As a result of the investigation today of the suspension of the Provident Security and Banking company of this city, District Attorney Moran tonight sent a letter to Governor Guild asking that the Massachusetts Savings bank commissioners be removed from office. In his letter Mr. Moran charges that Commissioners J2S. Otis of Malden, Frederick B. Washburn of Wellesley Hills and Warren E. Lock of Norwood, were "grossly careless and wilfully negligent" in connection with affairs of the Provident company and other institutions.

2. February 3, 1906 The Salt Lake Tribune Salt Lake City, UT
Article from The Salt Lake Tribune, February 3, 1906

Click image to open full size in new tab

Article Text

Final Faint Hope. Delegates who chose to do so left for their homes tonight Others remained for the final session of the joint conference in the morning This will be for the formal adjournment of the interstate conference, the recess of this afternoon having been taken to allow the miners' convention to ratify or reject the report of the scale committee. In this last meeting lies the only hope, If hope can exist, for a settlement of the dispute. CASE SEEMS HOPELESS Nothing in Sight for Creditors of the Provident. BOSTON, Feb 2.-Charles F. Weed, one of the receivers of the defunct Provident Security and Banking company, upon his return last night from New York, where he had been in conference with Charles D. Gurley, one of the directors of the company, stated that the proposition of Mr. Gurley to take up some of the securities of the company had been rejected. He said that the affairs of the institution, In which more than 8000 people placed deposits of over $182,000 in savings, had not changed in the least, and that he was just as hopeless of the situation as ever.