Hancock National Bank (Boston, MA)

Episode Information

Episode UID
144201169
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
14420 national
Charter Number
1442
Start Date
May 21, 1897
Location
Boston, Massachusetts (42.358, -71.060)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
4dfbacf84c18fcee

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1902-04-04
OCC cause of failure
Losses
Share of assets assessed as good
0.0%
Share of assets assessed as doubtful
53.8%
Share of assets assessed as worthless
46.1%

Description

Article states the bank 'goes into liquidation' and Mercantile Trust takes charge.

Events (4)

1. July 15, 1865 Chartered
Source
historical_nic
2. May 20, 1897 Voluntary Liquidation
Source
historical_nic
3. May 21, 1897 Receivership
Newspaper Excerpt
BOSTON, Mass., May 21. -The Hancock national bank goes into líquidation, to-day, and the Mercantile trust company takes charge of its affairs.
Source
newspapers
4. April 4, 1902 Receivership
Source
historical_nic

Newspaper Articles (2)

Article from Las Vegas Daily Optic, May 21, 1897

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Article Text

STILL FAILING. Prosperity Seems to Have no Effect on HardPressed Banks. NEW YORK, N. Y., May, 21. The Third national bank of this city announced, this morning, that it will go into liquidation. It has $12,000.00 of deposits and claims solitiney. It will turn over its affairs Horow City bank, which will pay deposi our The City bank has $43,000,000 in assets. LAWRENCE, N. H., May 21.-The Lake village bank follows the Belknap savings bank and suspends. WASHINGTON, D. C., May 21.The failure of the State national bank of Logansport, Indiana, yesterday, was due to the management's loaning heavily to its president. BOSTON, Mass., May 21. -The Han. cock national bank goes into líquidation, to-day, and the Mercantile trust company takes charge of its affairs. WASHINGTON, D. C.,May 21.-Act. ing comptroller of the treasury, Coffin, was notified, this morning, that the First national bank of Orleans, Nebraska, had failed.


Article from El Paso Daily Herald, May 21, 1897

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Article Text

Bank Failures. NEW YORK, May 21.-The Third National bank of this city announces this morning that it goes into liquidation. It has twelve million dollars on deposit. and claims solvency. It will turn over to the City bank which will pay the depositors. The City bank has forty-three million in assets. LAWRENCE, N. H., May 21.- The Lake Village bank follows the Belknap Savings bank and has suspended. WASHINGTON, May 21.-The failure of the State National bank of Logansport, Indiana, was due to bad management and heavy loaning to the president. BOSTON, May 21.-The Hancock National bank goes into liquidation. The Mercantile Trust company takes charge of its affairs. WASHINGTON, May 21.-Acting Comptroller of the Treasury Coffin was notified this morning that the First National bank of Orleans, Neb., had failed.