gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e3506de2116b296b
Response Measures
None
Events (3)
1.July 24, 1893Suspension
Cause
Local Banks
Cause Details
Withdrawal of deposits and contemporaneous suspensions of other Manchester institutions forced the Bank of New England to suspend
Newspaper Excerpt
The Bank of New England, which suspended this afternoon, had a capital of $100,000
Source
newspapers
2.August 11, 1893Other
Newspaper Excerpt
At a meeting of the directors of the suspended Bank of New England Bank Commissioner Lyford stated that a careful examination ... revealed no discrepancies, and that ... depositors and stockholders receive every dollar, but a surplus of at least 10 per cent would remain.
Source
newspapers
3.August 31, 1893Reopening
Newspaper Excerpt
At a meeting of the directors of the suspended Bank of New England ... The bank will resume in a few weeks.
Source
newspapers
Newspaper Articles (10)
1.July 25, 1893The Indianapolis JournalIndianapolis, IN
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Article Text
New England Banks Going. MANCHESTER, N. H., July 24.-The National Bank of the Commonwealth will suspend payment to-morrow morning. This action was determined on at a meeting of the directors to-night, and the national Controller was notified. Its assets and liabilities are about $625,000; deposits, $310,529; capital stock, of the The suspension $200,000. New Hampsbire Trust and Bank of New England precipitated the Commonwealth's suspension. The Bank of New England, which suspended this afternoon, had a capital of $100,000, and its officers say depositors will lose nothing. The savings banks of the city have voted to demand the ninety days' notice authorized by law on all withdrawals of over $100. The five remaining national banks will also stand by each other and establish a sort of clearing house arrangement for mutual protection.
2.July 27, 1893Connecticut Western NewsNorth Canaan, Salisbury, Canaan, CT
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Article Text
The New Hampshire Panic. MANCHESTER, N. H., July 25.-The Nalional Bank of the Commonwealth suspended payment this morning. This action was determined on at a meeting of the directors last night, and the national comptroller was notified. Its assets and liabilities are about $625,000; deposits, $310,529: capital stock, $200,000. The suspensions of the New Hampshire Trust company and Bank of New England precipitated the Commonwealth's suspension.
3.July 28, 1893Vermont PhลnixBrattleboro, Bellows Falls, Ludlow, VT
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Article Text
New Hampshire Bank Failures. Withdrawal of deposits compelled the Security Trust company of Nashua, N. H., to close its doors. It will pay all liabilities. The capital and surplus amount to $250,000. Bank Commissioner James C. Lyford served the papers last Saturday evening, closing the doors -of the New Hampshire Trust company of Manchester, N. H. This action was taken after full consultation with the officers of the institution, and for the protection of its depositors and creditors. The proceedings were similar to those pursued in the case of the Security Trust company of Nashua, with the expectation that the suspension of business will be but temporary. They were simply of a precautionary nature, enabling the institution to realize cash from the assets, without sacrificing them in a falling market. The company has a paidup capital of $500,000. The bank of New England and the National bank of the Commonwealth of Manchester suspended Monday. The former had a capital of $100,000 and the latter $200,000. It is thought that there will be no loss to depositors.
4.August 11, 1893Pawtucket TribunePawtucket, RI
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Article Text
New England Bank All Right. Manchester, N. H., Aug. 11.-At a meeting of the directors of the suspended Bank of New England Bank Commissioner Lyford stated that a careful examination of the institution had revealed no discrepancies, and that if the assets could be realized upon not only would the depositors and stockholders receive every dollar, but a surplus of at least 10 per cent would remain.
5.August 11, 1893The Providence NewsProvidence, RI
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Article Text
WILL PAY IN FULL. MANCHESTER, N. Hi Aug. i1.-At meeting of the directors of the suspended Bank of New England Bank Commissioner Lyford stated that a careful exam ination of the institution had revealed no discrepancies, and that if the assets could be realized upon not only would the depositors and stockholders receive every dollar, but a surplus of at least 10 per cent would remain.
6.August 12, 1893Daily Kennebec JournalAugusta, ME
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Article Text
New England Bank All Right. MANCHESTER, N. H., Aug. 11.-At a meeting of the directors of the suspended Bank of New England Bank Commissioner Lyford stated that a careful examination of the institution had revealed no discrepancies. and that if the assets could be realized upon not only would the depositors and stockholders receive every dollar, but a surplus of at least 10 per cent would remain.
7.August 31, 1893Pawtucket TribunePawtucket, RI
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Article Text
To Resume Business. MANCHESTER, N. H., Aug. 31.-At a meeting of the directors of the suspended Bank of New England, a report was made that the assets were sufficient to pay depositors and stockholders in full and have a surplus. The bank will resumein a few weeks.
8.August 31, 1893The Providence NewsProvidence, RI
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Article Text
Bank of New England to Resume. MANCHESTER, N. H., Aug. 31.-At a meeting of the directors of the suspended Bank of New England, a report was made that the assets were sufficient to pay depositors and stockholders in full and have a surplus. The bank will resumein a few weeks.
9.September 1, 1893Pawtucket TribunePawtucket, RI
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Article Text
To Resume Business. MANCHESTER, N. H., Aug. 31.-At a meeting of the directors of the suspended Bank of New England, a report was made that the asse were sufficient to pay depositors and stockholders in full and have a surplus. The bank will resumein a few weeks.
10.September 7, 1893The SunMorris, MN
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Article Text
WILL RESUME. s Manchester, N. H. Special-At meeting of the directors of the suspended Bank of New England to-day a report was made that the assets were sufficient to pay depositors and stockholders in full and have a surplus. The bank will resume in a few weeks, the exact time being contingent on the condition of the money market.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
