Belknap Savings Bank (Laconia, NH)

Episode Information

Episode UID
1157429291169
Episode Type
Suspension โ†’ Closure
Bank Type
savings
Bank ID
115742929 hash
Start Date
May 17, 1897
Location
Laconia, New Hampshire (43.528, -71.470)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
6a371fbb11a882f7

Response Measures

None

Description

Sources give slightly different suspension dates (May 15โ€“20, 1897); trustees voted voluntary liquidation.

Events (3)
1. May 17, 1897 Suspension
Cause
Voluntary Liquidation
Cause Details
Trustees, facing heavy withdrawals and tied-up western investments, voted to place the bank into voluntary liquidation rather than sell securities at a sacrifice.
Newspaper Excerpt
The Belknap savings bank at Laconia closed its doors Wednesday. The trustees met ... voted unanimously that the bank go into voluntary liquidation
Source
newspapers
2. January 17, 1900 Other
Newspaper Excerpt
trustees ... announce that a dividend of ten per cent. will be paid to depositors, February 15. The bank has already paid three dividends, aggregating 50 per cent.
Source
newspapers
3. October 17, 1901 Receivership
Newspaper Excerpt
William H. Plummer has been appointed assignee of the Belknap Savings bank ... The appointme nt was made by Judge Charles E. Stone in Concord, at the request of Bank Commissioners
Source
newspapers

Newspaper Articles (12)
1. May 20, 1897 Las Vegas Daily Optic Las Vegas, NM
Article from Las Vegas Daily Optic, May 20, 1897

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Article Text

DUE TO DEPOSITORS The Belknap Savings Bank at Laconia, N. H. Goes to Wall Owing Large Sums. TAILORS WIN THE STRIKE Epidemic of Suicides-U. S. Senator Earl Dying, and Gen. Horatio King Dead. SOME SLAVE MONEY FOUND LACONIA, New Hampshire, May 20. Depositors of the Belknap savings bank are in a fever of excitement, today, over the suspension of that institution. The bank owes $1,000,000 to depositors. CRIPPLE CREEK, Colorado, May 20. -H. P. Reithon, a prominent hardware merchant, and H. T. Harder, a grocer, failed, this morning. They were interested in the Miners' bank which falled, yesterday.

2. May 20, 1897 El Paso Daily Herald El Paso, TX
Article from El Paso Daily Herald, May 20, 1897

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Article Text

Owes a Big Sum. LACONIA, N. H., May 20.-Depositors in the Belknap Savings Bank are in a fever of excitement today over the suspension of that institution. The bank owes $1,000 to depositors.

3. May 20, 1897 Daily Independent Elko, NV
Article from Daily Independent, May 20, 1897

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Article Text

WHEN bilions or costive. eat a Cascaret. candy cathartic, cure g. aranteed, 10c. 25c. Reno may get her public building S on as the treasury department is making inquiries as to available sites, the volume of postoffice business etc. DeLamar, Nev., is a great family mining camp. The school census shows 2'0 chil en of school age, to say nothing of the swarms of little ones. During the year 1896 the plumage of over 3,000,000 birds was used in New York for the decoration of wemen's hats. The Miners' State Bank at Capple Creek, Colorado, and the Bellinap Savings Bank at Laconia, New Ha.npshire, closed their doors yesterday. Married men do not live longer than bachelors, but the time seems longer, especially when a fellow is deburred from having a run with the b ys occasionally. Members of the United States Bimatallic Commission arrived in Paris yesterday. Premier Meline says France will not take the initiative in calling a monetary conference until Great Britain agrees to take part, James Baysley, who located the Best & Belcher mine on the Comstock but who has been living the life of a recluse near Los Angeles recently, has fallen heir to ยฃ15,000 by the death of a relative in England.

4. May 21, 1897 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, May 21, 1897

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Article Text

Excitement Over a Bank Failure: LACONIA, N. H., May 20.-The depositors of the Belknap Savings Bank are in a fever of excitement to-day over the suspension of that institution. The bank owes $1,000,000 to depositors.

5. May 21, 1897 The Bryan Daily Eagle Bryan, TX
Article from The Bryan Daily Eagle, May 21, 1897

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Article Text

NEWS IN BRIEF. The state convention of Ohio Democrate will be held at Columbus on June 29 and 30. A. K. Lathan, a stockman, was killed by lightning near Claude, Texas. W. E. Dunbar, Jr., was kicked and killed by a mule at Waxahachie, Tex. The Belknap Savings bank at Laconia, N. H., has failed. The body of an unknown negro or Mexican was found hanging in the Brazos bottoms near Bryan. the penitentiary at Caldwell, Texas, for the murder of Robert Cole. Whitecaps are trying to run negroes off farms around Garland, Tex. Deputy Sheriff A. D. McLaughlin while asleep walked out of a secondstory window at Sulphur Springs, Tex., and was seriously hurt. J. S. Coxey will speak at the massmeeting of the Populists at Hillsboro, Tex., on May 29. State Senator McMullin. who attempted to kill Editor Smithee at Little Rock, Ark., on Monday, has been indicted by the grand jury. Albert M. King, a 19-year-old messenger of the Boylston National bank at Boston, Mass., is missing, together with about $20,000 in cash. Senator Earle is dangerously III at his home at Greenville, S. C. Two delegates to the conductors' convention at San Francisco, Cal., have mysteriously disappeared. It is believed they were killed.

6. May 21, 1897 Vermont Phล“nix Brattleboro, Bellows Falls, Ludlow, VT
Article from Vermont Phล“nix, May 21, 1897

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Article Text

NEW HAMPSHIRE NOTES. A Laconia Bank Closes. The Belknap savings bank at Laconia closed its doors Wednesday. The amount due depositors is $961,502. The trustees met Tuesday and voted unanimously that the bank go into voluntary liquidation and divide the assets among depositors as fast as they can be advantageously converted. It is believed that all depositors can be paid. The withdrawals by depositors in excess of deposits since the panic of 1893 have amounted to over $440,000. The withdrawals have increased of late, and rather than sell good securities at a sacrifice the trustees decided to put the bank into liquidation to protect the interests of all. The troubles of the bank have come from Western investments.

7. May 22, 1897 The Daily Morning Journal and Courier New Haven, CT
Article from The Daily Morning Journal and Courier, May 22, 1897

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Article Text

BANK HARD UP. The Lake Village Bank at Laconia, N. H., Pressed for Cash. Boston, May 21.-A special dispatch to the Globe from Laconia, N. H., says: Following close upon the suspension of the Belknap Savings bank here, comes the report of the partial suspension of the Lake Village Savings bank, also of this city. Notice is given that sums not exceeding $25 will be paid on demand not oftener than once in thirty days to each depositor, while larger sums will be refused even on notice. Western loans are the cause of the trouble. Amount due depositors, $272,870.02.

8. May 29, 1897 The Lamar Register Lamar, CO
Article from The Lamar Register, May 29, 1897

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Article Text

The Belknap Savings Bank of Laconia, New Hampshire, on Monday commenced suit against the Lamar Land and Canal Co., the Prowers County Land & Irrigation Co., the Lamar Canal Co., the Kansas Loan and Trust Co., and the Trust Com pany of North America, on behalf of the original bondholders, asking that the property be sold, also asking that a receiver be appointed to put the property in good order. Mr. Atcheson, who has been acting as receiver, resigned and Mr. A. E. Bent has been appointed receiver, and is now in charge of the canal and the lands includeded in the first trust deed given by the Lamar Land and Canal Company. It is expected that under this suit by the sale of receiver's certificates enough funds can be realized by which a dam, new headgates and flumes will be built and the canal will be put in first class condition.

9. February 21, 1898 Worcester Morning Daily Spy Worcester, MA
Article from Worcester Morning Daily Spy, February 21, 1898

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Article Text

The trustees of the Belknap Savings Bank of Laconia, N. H., voted to declare a dividend to depositors of 10 per cent, payable March 14. The bank suspended business May 18, 1897, and this will be the first dividend to be declared,

10. January 17, 1900 The Providence News Providence, RI
Article from The Providence News, January 17, 1900

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Article Text

BELKNAP SAVINGS BANK TO PAY A DIVIDEND OF 10 PER CENT. Laconia. Jan. 17.-The trustees of the Belknap Savings Bank of this city which closed its doors May 15, 1897, announce that a dividend of ten per cent. will be paid to depositors, February 15. The bank has already paid three dividends, aggregating 50 per cent. of the amount due depositors. and it is said the outlook for rapid liquidation is favorable. At the time of the suspension, the institution owed $961,273.95. The Lake Village Savings bank of Lakeport, another closed concern, is making arrangements to liquidate its indebtedness as soon as its securities can be disposed of advantageously The Lake Village bank was closed a little more than a year ago.

11. January 18, 1900 The Sun Wilmington, DE
Article from The Sun, January 18, 1900

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Article Text

Failed Bank Meeting Debts. Laconia. N. H., Jan. 17.-The, trustees the Belknap Savings bank of this city, hich closed its doors May 15, 1897, anonce that a dividend of 10 per cent II be paid to depositors Feb. 15. The oak has already paid three dividends agregating 50 per cent. The ontlook 1. a rapid liquidation is considered faorable. At the time of the suspension be institution owed $901,273.23

12. October 19, 1901 Spirit of the Age Woodstock, VT
Article from Spirit of the Age, October 19, 1901

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Article Text

SUSPENDED IN 1897. Belknap Savings Bank Has Just Had an Assignee Appointed. Laconia, N. H., Oct. 17.-William H. Plummer has been appointed assignee of the Belknap Savings bank of this city. The appointme nt was made by Judge Charles E. Stone in Concord, at the request of Bank Commissioners John Hatch and George W. Cummings. The Belknap Savings bank. which is one of the oldest institutions in the city. stopped doing business on May 17. 1897. on account of the temporary tying up of much of its resources. and since that time the trustees have been engaged in turning the assets into cash for the benetit of the depositors. many of whom resided here. while others are scattered all over the United States. When the bank ceased doing business the amount due to depositors was $961.273. The first dividend was declared and paid 10 months after the bank suspended business and the second eight months later. Since that time four other dividends have ocen paid. aggregating 70 percent. The first two were 10 percent. the third 20 percent, and the other three 10 percent.