Arlington Trust Company (Lawrence, MA)

Episode Information

Episode UID
1147485591584
Episode Type
Run → Suspension → Reopening
Bank Type
trust
Bank ID
114748559 hash
Start Date
December 16, 1931
Location
Lawrence, Massachusetts (42.707, -71.163)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
fe559ccfbac7927b

Response Measures

None

Events (3)
1. December 16, 1931 Run
Cause
Local Banks
Cause Details
Heavy withdrawals affecting multiple local banks and regional banking distress led depositors to withdraw funds from Arlington Trust.
Measures
Issued statement invoking right to require 30-day notice for withdrawals; brought in truckloads of cash from other cities.
Newspaper Excerpt
HEAVY WITHDRAWALS AT BANKS IN LAWRENCE ... The Arlington Trust Company issued statement that it had temporarily the right to require notice ... requiring withput 30-day period.
Source
newspapers
2. December 19, 1931 Suspension
Cause
Local Banks
Cause Details
Closed doors/suspended operations following large withdrawals and regional bank failures/pressure.
Newspaper Excerpt
cuatro bancos cerraron a sus puertas ... el Arlington Trust Co., de Lawrence ... las instituciones bancarias que han suspendido sus operacio
Source
newspapers
3. October 21, 1932 Reopening
Newspaper Excerpt
CLOSED LAWRENCE BANK REOPENS TODAY ... The bank will reopen tomorrow after being closed since the middle of last December.
Source
newspapers

Newspaper Articles (3)
1. December 16, 1931 The Boston Daily Globe Boston, MA

Article Text

HEAVY WITHDRAWALS AT BANKS IN LAWRENCE Dec of the the Trust Company today heavy the other local and they tinued until the close of business this savings banks and the cial banks that affected by the withdrawals, all of the banks took customers, and officials of said tonight that take of demands that might be made The Arlington Trust Company issued statement that it had temporarily the right to require notice statement said, in part: "The Arlington Trust has ample funds and resources in its savings department. All funds so deposited are entirely Moreover, means loss of terest for six months' period Because of this the company unwise permit continual withdrawal funds large While the requiring withput 30-day period. is likely that conditions will change that it may be possible to suspend it after few Several truckloads of cash were brought during the day from other cities and of were the banks depositors their Following meeting of the stockholders of the Lawrence Trust Company, Pres Cornelius Corcoran issued the closing the Federal National Bank of Boston, the depository of the Law-

2. December 19, 1931 La Gaceta Tampa, Ybor City, FL
Article from La Gaceta, December 19, 1931

Click image to open full size in new tab

Article Text

(RC BANCOS CERRAGON SUSPUERTAS sto dic. 19.-Como resulBdo de las grandes vetiradas de dinero, cuatro bancos cerraron a sus puertas ayer, en New Inde gland. de Las instituciones bancarias que han suspendido sus operacio freció nes son el Boston Continental un National, de Boston; el Hamden Bank and Trust Company de Hamden, Conn.; el Arlington Trust Co., de Lawrence, y el Plymouth County Trust Co., de PERBrockton. El estado financiero de los bancos, según los últimos informes rendidos es como sigue: Boston resiContinental, depósitos de 6,281, esqui960 pesos, capital en existencia los de $1,000,000, sobrantes $150, 000; Hamden, valores de 2,097, diez 683 pesos; Arlington Trust, deen pósitos de $7,150,003.70; Plyla a mouth County, depósitos de co- $3,816,073.73.

3. October 21, 1932 The Boston Daily Globe Boston, MA

Article Text

CLOSED LAWRENCE BANK REOPENS TODAY Gov Ely Praises Work of Arlington Trust Company Special Dispatch to the Globe LAWRENCE, Oct 20—At a meeting of the stockholders of the Arlington Trust Company today, attorney Daniel J. Murphy was elected president to succeed John A. Brackett, who had served in that capacity for many years. Marshall A. Ryder was re-elected treasurer. The bank will reopen tomorrow after being closed since the middle of last December. Gov Ely publicly commended the reorganization committee of the Arlington Trust Company of Lawrence yesterday. "I want to express my admiration for the courage, energy and great perseverance shown by your committee, depositors, stockholders and the entire community, which have made possible the rehabilitation of this bank as a going institution," he wrote. "Courage and determination in the face of adversity are traits which we are proud to think of as characteristically American."