National Granite State Bank (Exeter, NH)

View Charter #1147 on SPMC View balance sheet

Episode Information

Episode UID
114701123
Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
11470 national
Charter Number
1147
Start Date
July 27, 1893
Location
Exeter, New Hampshire (42.981, -70.948)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2cb98358878a0ba2

Response Measures

Full suspension

Receivership Details

Depositor recovery rate
51.6%
Date receivership started
1893-09-23
Date receivership terminated
1898-09-30
OCC cause of failure
Losses
Share of assets assessed as good
35.2%
Share of assets assessed as doubtful
51.3%
Share of assets assessed as worthless
13.5%

Description

Initially described as a temporary suspension due to drainage/delayed remittances; later placed in receivership and president arrested for embezzlement.

Events (5)
1. May 15, 1865 Chartered
Source
historical_nic
2. July 27, 1893 Run
Cause
Correspondent
Cause Details
Drainage of cash and delayed remittances from Boston led depositors to withdraw funds.
Measures
Bank temporarily suspended payment (stopped payments) in response to heavy withdrawals
Newspaper Excerpt
The present embarrassment was caused by withdrawal of deposits.
Source
newspapers
3. July 27, 1893 Suspension
Cause
Correspondent
Cause Details
Temporary suspension cited as due to drainage of cash supply and delayed remittances from Boston.
Newspaper Excerpt
The National Granite State Bank temporarily suspended payment this morning. The institution is declared perfectly sound.
Source
newspapers
4. September 23, 1893 Receivership
Source
historical_nic
5. September 23, 1893 Receivership
Newspaper Excerpt
The controller of the currency has appointed Arthur C. Fuller receiver of the National Granite Bank of Exeter, N. H.
Source
newspapers

Newspaper Articles (19)
1. July 27, 1893 Evening Star Washington, DC
Article from Evening Star, July 27, 1893

Click image to open full size in new tab

Article Text

MONTANA BANKS SUSPEND. Two Helena Institutions With Plenty of Assets, but Unable to Realize. HELENA, Mont., July 27.-The First National and Montana National banks failed to open this morning. A run is now in progress on the other banks of the city. 11 a. -The run is now confined principally to the Merchants' National Bank, which is paying everybody. They are confident that they will be able to stand the run. The two closed banks have ample assets, but cannot realize. S. T. Hauser is president of the First National Bank. The capital stock is $500,000; surplus $100,000; undivided profits $600,000 and average deposits $3,250,000. John T. Murphy is president of the Montana National. The capital stock is $500,000; surplus $100,000; undivided protits $100,000, and average deposits $1,500,000. Other Banks Closed. MIDDLESBORO, Kan., July 27. - The First National Bank of this place closed its doors this morning. The notice upon the door reads: "This bank closed by order of directors. "J. P. SANDIFEE, Cashier." LOUISVILLE, Ky., July 27.-The Sarmers' Bank of Mount Sterling, Ky., suspended payment this morning. EXETER, N. H., July 27.-The National Granite State Bank temporarily suspended payment this morning. The Institution is declared by officials to be perfectly sound, the present embarrassment having been caused by a drainage of the cash supply and delayed remittances from Boston. A resumption of business is expected.

2. July 28, 1893 The Helena Independent Helena, MT
Article from The Helena Independent, July 28, 1893

Click image to open full size in new tab

Article Text

WIDELY SCATTERED. Hard Times in Varions Sections of the Country. PORTLAND, Ore., July 27. - -The Oregon National bank and the Northwest Loan and Trust Co., kindred institutions, failed this morning. The suspension caused no excitement and had no appreciable effect on the other banks of the city. The Oregon National's last statement shows total resources of $750,000. liabilities of $450,000. The ohief creditor is Multnomab county, the deposit of which amounts to about $300,000. The city of Portland has also on deposit about $20,000. J. L. Hartman, assignee of the Northwest Loan and Trust company, filed n statement this afternoon showing liabilities of $600,000 and Reacts of 860,000. EXETER, N. H., July 27.--The National Granite State Bank temporarily suspended this morning. The institution is declared perfectly sound, embarrassment being caused by the drainage of cash and delayed remittances from Boston. Immediate 16sumption is expected. WILMINGTON, Del., July 27.-A receiver has been appointed for the Wilmington Dental Manufacturing Co. The company is perfectly solvent. Inability to realize on bills caused the directors to take this action for protection. ELLENBBURG, Wash.. July 27.-The Ellensburg National bank suspended payment to-day. George B. Markle, president of the two banks which failed in Portland today, is also president of the Ellensburg bank. SPARTA, Wis., July 27.-M. A. Thayer's bank and the Bank of Spartn closed to-day. Liabilities of the former $175,000. assets $225,000; liabilities of the latter $210.000, assets $300,000. PORTAGE, Wis., July 27. - The City Bank of Portage closed its doors to-day. It was capitalized at $25,000. H. B eese, secretary of state, was president of the bank. PHILADELPHIA, Pa., July 27.-S. H. Morrison, AD extensive lumber merobant, suspended, owing to slow collections, etc. Liabilities $100,000. MIDDLESBORO, Ky.. July -The First National bank failed this morning. No statement.

3. July 28, 1893 The Herald Los Angeles, CA
Article from The Herald, July 28, 1893

Click image to open full size in new tab

Article Text

Another New Hampshire Bank Failure. EXETER, N. H., July 27.-The National Granite State bank temporarily BUSpended this morning. The institution is declared perfectly sound. The embarrassment was caused by the drainage of cash and delayed remittances from Boston. Immediate resumption is expected.

4. July 28, 1893 Morning Journal and Courier New Haven, CT
Article from Morning Journal and Courier, July 28, 1893

Click image to open full size in new tab

Article Text

MONTANA BANKS CLOSED. A Run in Progress at Helena-Assignments of Business Men-Other Banks Fail to Open Their Doors. HELENA, Mon, July 27.-The First National and Montana National banks failed to open this morning. A run is now in progress on the other banks of the city. C. W. Cannon, a local dealer in real estate, assigned yesterday. He wasa large endorser on corporation paper, and stringency of the money market caused the assignment. The liabilities are $240,000; assets, $1,500,000. A M. Halper also made a personal as signment. He, too, was a heavy endorser of corporation paper. His liabilities are $600,000; assets, $1,000,000. The Halper Hardware company, of which he is president, is not affected by the assignment. MOUNT STERLING, Ky., July 27.-The new Farmers' bank here failed to open its doors this morning, owing to a heavy run during the past week. All depositors will be paid in full. The capital stock is $250,000, and the bank was supposed to be one of the strongest in Kentucky. EXETER, N. H., July 27.-The National Granite State bank temporarily suspended payment this morning. The institution is declared by officials to be perfectly sound, the present embarrassment having been caused by a drainage of the cash supply and delayed remittances from Boston. An immediate resumption of business is expected. PORTAGE, Wis., July 27.-The City bank closed its doors this morning. The suspension is due to the condition of the money market. PORTLAND, Ore., July 27.-The Oregon National bank and the Northwest Loan & Trust company of this city suspended this morning. George B. Markle is president of both institutions. The capital stock of the Oregon National is $200,000; surplus, g $40,000; average deposits $500,000. Capiy tal stock of the Northwest Loan & Trust company $250,000; surplus $25,000. Rev. O. D. Taylor, manager of the In8 terstate Investment company at The Dalles has been arrested on a charge of embezzlement. It is alleged that Taylor is short $50,000 in his accounts.

5. July 28, 1893 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, July 28, 1893

Click image to open full size in new tab

Article Text

Exeter, N. H., Bank. EXETER, N. H., July 27.-The National Granite state bank suspended payment this morning. It is declared to be perfectly sound. The present embarrassment was caused by withdrawal of deposits. An immediate resumption of business is expected.

6. July 28, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, July 28, 1893

Click image to open full size in new tab

Article Text

A New Hampshire Bank Closed. EXETER, N. H., July 27.-The National Granite State bank temporarily suspended this morning. The institution is declared to be perfectly sound. The embarrassment was caused by drainage of cash and delayed remittances from Boston. Immediate resumption is expected.

7. August 3, 1893 Iron County Register Ironton, MO
Article from Iron County Register, August 3, 1893

Click image to open full size in new tab

Article Text

Temporarily Suspended. EXETER. N. H., July 28.-The National Granite State bank temporarily suspended payment yesterday morning. The institution is declared by officials to be perfectly solvent. An immediate resumption of business is expected.

8. August 3, 1893 Burlington Weekly Free Press Burlington, VT
Article from Burlington Weekly Free Press, August 3, 1893

Click image to open full size in new tab

Article Text

An Exeter Bank Embarrassed. EXETER, N. H., July 27. 27.-The Granite State National bank temporarily suspended to-day. The officials declare that the institution is perfectly sound, its present embarrassment being caused by the drainage of its cash supply and delayed remittances from Boston. Immediate resumption of business is expected.

9. August 4, 1893 The Jasper Weekly Courier Jasper, IN
Article from The Jasper Weekly Courier, August 4, 1893

Click image to open full size in new tab

Article Text

Temporarily Suspended. EXETER, N. H., July 28.-The National Granite State bank temporarily suspended payment yesterday morning. The institution is declared by officials to be perfectly solvent. An immediate resumption of business is expected.

10. September 14, 1893 Burlington Weekly Free Press Burlington, VT
Article from Burlington Weekly Free Press, September 14, 1893

Click image to open full size in new tab

Article Text

In the Hands of a Receiver. EXETER, N. H., Sept. 11. - The stock. holders of the long suspended National Granite State bank, at a special meeting this afternoon voted to recommend the appointment as receiver of Emmons B. Philbrick of Rye.

11. September 25, 1893 Evening Star Washington, DC
Article from Evening Star, September 25, 1893

Click image to open full size in new tab

Article Text

Bank Receiver Appointed. The controller of the currency has appointed Arthur C. Fuller receiver of the National Granite Bank of Exeter, N. H.

12. November 12, 1893 Arizona Republican Phoenix, AZ
Article from Arizona Republican, November 12, 1893

Click image to open full size in new tab

Article Text

A Bank President Arrested. BOSTON, Nov. 11.-Warren F. Putnam, president of the National Granite bank of Exeter, N. H., was this afternoon arrested charged with the embezzlement of $30,000. The arrest was made at the instigation of Arthur O. Fuller, receiver of the bank.

13. November 12, 1893 The Herald Los Angeles, CA
Article from The Herald, November 12, 1893

Click image to open full size in new tab

Article Text

A Bank President Arrested. BOSTON, Nov. 11. - Warren F. Putnam, president of the National Granite bank of Exeter, N. H., was this afternoon arreated, charged with the embezzlement of $30,000. The arrest was made at the instigation of Arthur O. Fuller, receiver of the bank.

14. November 12, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, November 12, 1893

Click image to open full size in new tab

Article Text

Charged With Embezzlement. BOSTON, Nov. 11.-Warren F. Putnam, president of the National Granite Bank of Exeter, N. H., was this afternoon arrested charged with the embezzlement of $30,000. The arrest was made at the instigation of Arthur O. Fuller, receiver of the bank.

15. November 12, 1893 The Sun New York, NY
Article from The Sun, November 12, 1893

Click image to open full size in new tab

Article Text

A BANK PRESIDENT ARRESTED. Warren T. Patnom of Exater, N. II., Accused of Embezzling $30,000. BOSTON. Nov. 11.-Warren T. Putnam. President of the National Granite State Bank of Exeter. N. H., was arrested in this city to-day by Deputy Marshal Galloup on the charge of embezzlement from the funds of that institution. It is said that the amount of his embezzlement will reach $30,000. It includes bills of exchange and orders valued at $23,000 and a bond of the Leavenworth Electric Railroad valued at $500. After the arrest, which was made in the street. Mr. Putnam was taken to the Marshal's office in the Post Office building. where he was held to await the arrival of United States Commissioner Sawyer. The National Bank at Exeter recently went into the hands of IL receiver. the cashier of the company. Mr. C. E. Byington. refusing at that time to keep the bank open according to the orders of the President. Mr. Putnam. Mr. Byington was upheld in his course, and the Comptroller appointed Mr. Fuller. a wellknown lawyer of Exeter. as receiver. Mr. Putnam went to Exeter A number of years ago to become cashier of the National Bank there. He is a man of very prepossessing appearance. Ultimately he became its President and the owner of a good part of its stock. His only hobby or extra expense. 80 far as known. was that of owning fast horses, his stable including a dozen or more time roadsters. While conducting the Exeter bank he became interested in several outside matters. one being the construction of an electric road up one of the White Mountains. He was about 50 years of age, and unmarried.

16. November 13, 1893 The Helena Independent Helena, MT
Article from The Helena Independent, November 13, 1893

Click image to open full size in new tab

Article Text

The Bank President Under Arrest, BOSTON. Nov. 12.-Warren F. Putnam, president of the National Granite bank of Exeter, N. H., has been arrested charged with embezzlement of $30,000. The arsent was made as the instigation of Arthur o Fuller. receiver of the bank.

17. November 13, 1893 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, November 13, 1893

Click image to open full size in new tab

Article Text

New Hampshire Banker Arrested. Boston, November 11.-Warren F. Putnam, president of the National Granite Bank of Exeter, N. H., was arrested at Young's Hotel by United States Deputy Marshal Gallupe this afternoon, charged with embezzling $30,000. Putnam was arrested at the instigation of Arthur L. Fuller of Exeter, N. H., the receiver of the bank. Putnam has not been at Exeter for a month, and said he had been out Westand just returned. He is charged directly with the embezzlement of a $500 bond of the Leavenworth Electric railroad; it is also charged that between the 7th of April and the 17th of May of this year he embezzled $26,000 more. When arrested, Putnam said he was going to Providence to try and borrow $5000. He was unable to obtain bail, and was committed to jail.

18. November 13, 1893 Wheeling Register Wheeling, WV
Article from Wheeling Register, November 13, 1893

Click image to open full size in new tab

Article Text

# A BIG BANKER IN JAIL He is Charged With Embezzling $30,000— Could Not Give Bond. BOSTON, MASS., November 11.—Warren F. Putnam, President of the National Granite Bank, of Exeter, N. H., was, late this afternoon, arrested at Young's Hotel by United States Deputy Marshal Galloupe, charged with the embezzlement of $30,000. The arrest was made at the instigation of Mr. Arthur O. Fuller, of Exeter, the receiver of the bank. Mr. Putnam is charged directly with the embezzlement of a $500 bond of the Leavenworth Electric railroad. This latter embezzlement was the straw that broke the camel's back, it is said. It is charged that between the seventh of April and 17th of May of this year, that he embezzled $26,000 more. He was arraigned before United States Commissioner Sanger, and being unable to furnish bail was committed to jail.

19. November 14, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, November 14, 1893

Click image to open full size in new tab

Article Text

Warren F. Putnam, president of the National Granite bank, of Exeter, N, H., was arrested, charged with emberziement of $30,000. The arrest was made at the instigation of Arthur a Fuiler, receiver of the bank.