Bank of New England (Manchester, NH)

Episode Information

Episode UID
1964552191157
Episode Type
Suspension โ†’ Closure
Bank Type
state
Bank ID
196455219 hash
Start Date
May 29, 1896
Location
Manchester, New Hampshire (42.996, -71.455)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
28c4a4fcf57b97e4

Response Measures

None

Description

Suspension in 1896 led to liquidation; a receiver was formally appointed in 1899.

Events (2)

1. May 29, 1896 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Had not recovered from heavy losses suffered in 1893; suspended by directors with consent of bank commissioners.
Newspaper Excerpt
The Bank of New England has suspended business for the time being by a vote of its directors and with the consent of the bank commissioners of the state.
Source
newspapers
2. July 18, 1899 Receivership
Newspaper Excerpt
Judge Peaslee of the supreme court has decided to appoint a receiver for the Bank of New England of this city.
Source
newspapers

Newspaper Articles (17)

Article from San Antonio Daily Light, May 29, 1896

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Bank Suspends With Consent. MANCHESTER, N. H., May 29.The Bank of New England has suspended business for the time being by a vote of its directors and with the consent of the bank commissioners of the state. Creditors are being paid with an idea of clearing up the deposits. The bank had not recovered from its losses in 1893.


Article from Deseret Evening News, May 29, 1896

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A Bank Suspends. MANCHESTER, N. H., May 29.-The Bank of New England has suspended business for the time being by a vote of its directors and with the consent of the bank commissioners of the state. Creditors are being paid with an idea of clearing up the depesits,


Article from The Topeka State Journal, May 29, 1896

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Bank of New England Suspends. Manchester, May 29.-The Bank of New England has suspended business for the time being by a vote of its directors, and with the consent of the bank commissioners of the state. Creditors are being paid with an idea of clearing up the deposits. The bank had not recovered from its losses in 1893.


Article from Vermont Phล“nix, May 29, 1896

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All the income-tax returns made to the treasury have been destroyed by a committee of clerks appointed for that purpose. The Chamberlain syndicate, which has stores in Keene, Nashua, Fitchburg, Burlington, Brandon and Vergennes, will open a large department store in Rutland Sept. 1. The project of an electric railroad between Springfield, Vt., and Charlestown, N. H., is being agitated again, and the stockholders are to elect directors June 4. The "Ancients and Honorables" are in high feather. The Prince of Wales has accepted an invitation to dine with the company in London Thursday, July 9. Active work has been begun to raise the funds for the memorial to Richard M. Hunt, the architect, which is to be built with Daniel C. French as sculptor and Bruce Price as architect. The bank of New England, at Manchester, N. H., suspended business yesterday by consent of the bank commissioners of the state. The bank was one of the institutions which suffered during the storm of 1893. The seventh annual convention of the Medal of Honor legion will be held in Fanueil hall, Boston, on Bunker Hill day, June 17. Headquarters will be at the American House, and an interesting program of entertainment has been arranged. A Chicago engineer has a project for building an immense wall from the Rocky Mountains to the head of Lake Superior, and is confident that it will keep cold waves out of the country. This is not a good season to talk about such things, however. During last year the town of Bradford, England, increased its exports of coatings to the United States from $1,200,000 to $7,500,000, and of "stuff goods" from $2,200,000 to $8,400,000. It is hardly necessary to add that the people of Bradford enthusiastically indorse our Democratic tariff policy. A fire in North Bennington Wednesday destroyed two storehouses containing wall paper and a workshop belonging to the Stark Paper company, also barns belonging to George Morse and Frank Powers. The Stark Paper company's loss is about $4500 and the loss on the barns $1500. The losses are fully covered by insurance. The people who now owe or must yield allegiance to the Czar of Russia number nearly double the population of the United States. The empire extends over a seventh of the earth's land surface. For the defence of this vast realm Russia can bring into active service about $2,600,000 men, but the possible war footing is estimated at 7,800,000. McKinley pocket-knives, of the finest tempered American steel, the handles containing photos of the champion of protection and the White House, are the latest eampaign tokens to make their appearance in Washington. These knives were manufactured to order at Canton, Ohio, where McKinley lives, and those who have been honored by receiving them are very much elated at such a distinction. Lieut. Peary will start for Greenland again in July, but on a quest that will involve few risks or hardships. He is to go to Cape York to secure the great meteorite which he discovered last year and which is believed to be the largest in the world. The trip will, therefore, be only a summer one. With him will go a scientific party from Cornell university, headed by Prof. R. S. Tarr, the geologist. Prof. C. E. Putney has resigned as principal of St. Johnsbury academy. He has been connected with the institution 23 years, the last 14 years as principal. The salaries of the other teachers at the academy have been reduced. The prospect is that the institution will be crippled by the reduction in its income. A largepart of the endowment of the academy is in the stock of the Fairbanks company, which does not pay as large a per cent as formerly.


Article from The Houston Daily Post, May 30, 1896

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BANK SUSPENDS. Manchester, N.H., May 29.-The Bank of New England has suspended business for the time being by a vote of Its directors and with the consent of the bank commissioners of the State. Creditors are being paid with an idea of clearing up the deposits. The bank has not recovered from no Insees In 189%


Article from The Bryan Daily Eagle, May 31, 1896

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Bank Suspends Business. MANCHESTER, N. H., May 29.-The Bank of New England has suspended business for the time being by a vote of its directors and with the consent of the bank commissioners of the. state.


Article from Lincoln County Leader, June 4, 1896

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the same as heretofore. General Wheaton, who has just retunred to Denver from Arizona, says that if the arrangement now under consideration by the state department at Washington can be concluded, the depredations of Apaches in Arizona will be quickly stopped. It is proposed to let the federal troops in pursuit of the redskins cross the line Sinto Mexico and give the Mexican troops the right to cross the line into Arizona. Col R. P. McGlincey, a prominent politician and agriculturist, of San Jose, has been murdered. McGlincey's body, with a bullet in the head, was found in an outhouse on his ranch, near Campbell's Station, six miles from San Jose, in the township of Los Gatos. A neighbor named Page found the body, and, upon going into the house, found the body of McGlincey's son, Mrs. McGlincey, and her daughter; Minnie Shesler, a servant, and Robert Brisco, a hired man. The tragedy was enacted by the son-in-law of Mrs. McGlincey. James Dunham. The only survivor of the family is Dunham's baby, who was found sleeping peacefully by the side of his dead mother. George Schaeble, another hired man, barely escaped the fate of the others. The Grecian government, in a circular note to the powers, repudiates responsibility for the rebellion in Crete unless the porte restores Cretean autonomy. A Nuremburg dispatch says the first four prizes in the international chess masters tournament, to begin July 20, have been increased to $750, $500, $375 and $250 respectively. It is reported in Windsor, Ont., that the tug Lorimer, of Detroit, owned by Alexander Buell, has gone down in the middle ground off Pelee island and all hands lost. The report cannot be verified. John F. Caples and R. A. Booth, of Oregon, were on a visit to Cleveland, O., and presented a gold nugget to Mark Hanna, McKinley's manager. Speeches were made by Mr. Hanna and the Oregonians. The Diario, published in Buenos Ayres says that when congress has approved the unification of the Argentine debt, Dr. J. Romero, the minister of finance, will elaborate a scheme for the conversion of the paper money. In Los Angeles, Cal., an electric car ran over and killed an inmate of the Soldiers' Home, whose identity is unknown. The belief is that the old man was placed on the track by hoodlums, though it was apparently a case of suicide. The Pittsburg and Indiana manufacturers have closed down all the window-glass factories in the territories controlled by them. This throws 4,000 skilled workmen and about 1,500 laborers out of work a month earlier than usual. The Prohibition national convention held in Pittsburg, nominated the following ticket: President, Joshua H. Levering, of Maryland; vice-president, Hale Johnson, of Illinois. The silver plank was rejected and also the woman suffrage plank. The Madrid correspondent of the London Standard says it is made a condition of the French and Spanish bankers, who are largely interested in Spanish railway enterprises, to assist the government to obtain loans for the Cuban campaign. The bank of New England, of Manchester, N. H., has suspended business for the time being by a vote of its directors and with the consenst of the bank commissioners of the state. Creditors are being paid with an idea of clearing up the deposits. The bank had not recovered from its loss in 1893. Judge Hanford, of Seattle, has signed a decree foreclosing the mortgage held by the Bay State Trust Company on the Washington & Idaho railroad, and ordering the sale of the entire property of the road. The mortgage was dated September 2, 1889, and the entire amount of indebtedness is now $5,277.878.


Article from River Falls Journal, June 4, 1896

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THE EAST. The Vermont democrats in convention at Montpelier nominated J. Henry Jackson, of Barre, for governor. The platform indorses President Cleveland and his administration. The prohibition party met in sevenih national convention on the 27th at Pittsburgh. Pa., and Oliver W. Stewart, of Illinois, was chosen as permanent chairman. The committee on credentials reported 810 delegates present. A resolution pledging the convention not to abate its relentless war on the licensed rum power was ordered telegraphed to various religious bodies now in conference, also to congress. A massmeeting was held in the evening. The rye whisky distilleries in the eastern states will suspend operations on September 1 next, throwing 2,000 workmen out of employment. At Pittsburgh the prohibition national convention nominated Hon. Joshua Levering, of Maryland, for president of the United States, and Hon. Hale Johnson, of Illinois, for vice president. The platform declares only for the prohibition of the liquor traffic. Those in favor of a broad-gauge platform left the hall and formed a new party to be known as the national party. C. E. Bentley, of Nebraska, was nominated for president, and J. H. Southgate, of North Carolina, for vice president. The doors of the Bank of New England at Manchester, N. H., were closed. Gildemeister & Kroeger, piano manufacturers in New York, failed for $100,000. In Pittsburgh the National Junior Prohibition League of America held its first annual convention and elected G. W. Hopkins, of New York, as president. Emigration from German ports to the United States has been heavier during the past fiscal year than for years past, especially from Russia and Hungary. Percentages of the baseball clubs in the National league for the week ended on the 30th ult. were as follows: Cleveland, .645; Baltimore, 629; Cincin nati, .611; Philadelphia, .611; Boston, .588; Pittsburgh, .563; Chicago, .486; Washington, .471; Brooklyn, .471; New York, .400; St. Louis, .314; Louisville, .229. At the age of 63 years Mark M. ("Brick") Pomeroy, formerly publisher of the La Crosse (Wis.) Democrat, and Fomeroy's Democrat, New York, died at his home in Brooklyn. In Philadelphia the Garfield statue, the gift of the Fairmount Park Art association, was unveiled by Harry Garfield, a son of the martyred president. Flames destroyed H.J. Bohman's livery stable in New York and 40 horses were cremated. Residents of Johnstown, Pa., observed the seventh anniversary of the great flood in that city in which 3,800 persons perished.


Article from Bellows Falls Times, June 6, 1896

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New Hampshire News. Seven saloons and bowling houses have been closed in Concord. By the death of Dr. E. K. Baxter of Boston, Kimball Union academy, of which he was an alumnus, receives $5000. Dr. J. C. Moore was for the second time convicted by the Nashua court last week. Sentence was deferred and additional bail was required. Burt L. Taylor, ex-town treasurer of Lancaster, is held in $10,000 bail for trial on an allegation that he has embezzled the town funds. He was 20 years in office and is in good financial circumstances to all appearances. An expert is at work on the books. The bank of New England at Manchester has suspended business for the time being by vote of its directors and with the consent of the bank commissioners of the state. The bank will go into liquidation but will settle its affairs through the assistance of areceiver. At the meeting of the officers of the New Hampshire legislative reunion at Concord last Wednesday, Hon. Samuel B. Page of Woodsville was elected chairman of the executive committee and was authorized to name the sub-committee necessary toarrange the details of the event.


Article from The Islander, June 11, 1896

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EVENTS OF THE DAY Epitome of the Telegraphic News of the World. TERSE TICKS FROM THE WIRES An Interesting Collection of Items From the Two Hemispheres Presented in a Condensed Form. The Grecian government, in a circular note to the powers, repudiates responsibiltiy for the rebellion in Crete unless the porte restores Cretean autonomy. A Nuremburg dispatch says the first four prizes in the international chessmasters tournament, to begin July 20, have been increased to $750, $500, $375 and $250 respectively. It is reported in Windsor, Ont., that the tug Lorimer, of Detroit, owned by Alexander Buell, has gone down in the middle ground off Pelee island and all hands lost. The report cannot be verified. John F. Caples and R. A. Booth, of Oregon, were on a visit to Cleveland, 0., and presented a gold nugget to Mark Hanna, McKinley's manager. Speeches were made by Mr. Hanna and the Oregonians. The Diario, published in Buenos Ayres, says that when congress has approved the unification of the Argentine debt, Dr. J. Romero, the minister of finance, will elaborate a scheme for the conversion of the paper money. In Los Angeles, Cal., an electric car ran over and killed an inmate of the Soldiers' Home, whose identity is unknown. The belief is that the old man was placed on the track by hoodlums, though suicide. it was apparently a case of The Pittsburg and Indiana manufacturers have closed down all the window-glass factories in the territories controlled by them. This throws 4,000 skilled workmen and about 1,500 laborers out of work a month earlier than usual. The Prohibition national convention held in Pittsburg, nominated the following ticket: President, Joshua H' Levering, of Maryland; vice-president. Hale Johnson, of Illinois. The silver plank was rejected and also the woman uffrage plank. The Madrid correspondent of the London Standard says it is made a condition of the French and Spanish bankers, who are largely interested in Spanish railways enterprises, to assist the government to obtain loans for the Cuban campaign. The Bank of New England, of Manchester, N. H., has suspended business for the first time, being by a vote of its directors and with the consent of


Article from Evening Star, July 18, 1899

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WILL APPOINT A RECEIVER. Judge Peaslee's Decision Regarding a Manchester, N. H., Bank. MANCHESTER, N. H., July 18.-Judge Peaslee of the supreme court has decided to appoint a receiver for the Bank of New England of this city, which has been in difficulty for some time. The trouble primarily was due to the failure of the National of the Commonwealth and the Derryfield Savings Bank of this city a few years ago. The bank commissioners state that the savings department of the New England Bank owes depositors $41,928, and that its real assets amount to $30,783. In the other department the liabilities are $50,000 due to stockholders on account of capital stock, with actual assets of $17,140.


Article from The Wichita Daily Eagle, July 19, 1899

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CASTORIA. Bears the The Kind You Have Always Bough Signature of Manchester, N. H., July 18.-Judge Peaslee, of the supreme court, has decided to appoint a receiver for the Bank of New England, of this city. The bank owes depositors $41,928 and Its real assets amount to $30.783. Baltimore, Md., July 18.-A mixed train on the Curtis Bay branch of the Baltimore and Ohio railroad was derailed today at Stonehouse cove, near this city, Engineer Resaw was killed and Fireman Shade slightly injured. None of the passengers were injured. London, July 18.-Tod Sloane, It is announced, will sall for the United States by the steamer New York on Saturday. next, having decided to take advantage of his suspension, to visit America. He will return to England for the autumn handicaps.


Article from Wheeling Register, July 19, 1899

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A RECEIVER APPOINTED. MANCHESTER, N. H., July 18.Judge Peaslee, of the Supreme Court, has decided to appoint a receiver for the Bank of New England, of this city, which has been in difficulty for some time.


Article from The Record-Union, July 19, 1899

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Receiver for a Bank. MANCHESTER (N. H.), July 18.Judge Peaslo of the Supreme Court has decided to appoint a receiver for the Bank of New England of this city. The bank owes depositors $41,928 and its real assets amount to $30,783.


Article from Omaha Daily Bee, July 19, 1899

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Receiver for a Bank. MANCHESTER, N. H., July 18.-Judge Peaslee of the supreme court has decided to appoint a receiver for the Bank of New England of this city. The bank owes depositors $41,928, and its real assets amount to $30,783.


Article from Perrysburg Journal, July 22, 1899

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LATER. Thomas F. Noles, who left New Albany, Ind.. 15 months ago to take a place as chief engineer on one of the steamers of the Alaska Navigation Co. plying in the Yukon river, has returned to his home a raving maniac, his insanity having been caused by soffering from cold. What is probably the first cargo of silver and silver ore brought from the west coast of South America to an Atlantic coast port of this country, has reached Philadelphia on the British steamer Kentigern. Stowed away in her hold are 16,239 sacks of high grade ore and 600 bars of pig silver, valued at $150,000. A mixed train on the Bultimore & Ohio railroad was derailed near Baltimore on the 18th and Engineer Resaw was killed. None of the passengers were injured. Judge Peaslee. of the New Hampshire supreme court, has decided to appoint a receiver for the Bank of New England, of Manchester, N. H., which has been in difficulty for some time. Commercial authorities estimate the shortage in the Russian crop of whent at from 85,000,000 to 120,000,000 bushels. as compared with last year. The deficiency is most serious in the regions most favorably situated for export. A temporary receiver has been appointed for the Excelsior Electric Co., of New York City. The application was made by directors in proceedings for voluntary dissolution of the corporation. Liabilities $230,621. The company was incorporated in 1881. Two hundred and fifty freight handlers of the New York, New Haven & : Hartford railroad at five piers on the East river at New York City have gone I out on a strike. The men. who get 171/2 cents an hour, demand 25 cents an hour. The Lehigh Valley freight handlers also struck for more pay. There were four deaths from lock( jaw in New York and neighboring S cities on the 18th, making 39 since the : Fourth of July. New cases, resulting 1 generally from toy pistol wounds, continue to develop. I A big combination of five iron mills e in Lebanon and Reading, Pa., has been formed and will be controlled by a new corporation to be known as the American Iron and Steel Co. Negoe tiations for the combination have just been completed. The five plants emr ploy about 4,000 men, and their combined annual product of finished bar iron alone is over 140,000 tons. The new company will assume control Sepe tember 1.


Article from Marshall County Independent, August 4, 1899

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MINOR EVENTS OF THE WEEK. News of General Interest Told in Paragraphs. COMPLETE NEWS SUMMARY, Record of Happenings of Much or Little Importance from All Parts of the Civilized World-Prices of Farm Produce in Western Markets. Washington-Customs receipts ot Porto Rican ports for the last six months were $746,742, San Juan furnishing $341,022 and Ponce $252,500. Evansville,Ind.-During a storm near Oliver, in Pcsey county, about twentyfive miles northwest of this city, two men were instantly killed and two fatally injured by lightning. Madrid-The Spanish senate approved the tax on interest on the national debt. Brussels-The Petit Bleu says that a private dispatch from Berlin affirms, despite denials, that negotiations are proceeding for Emperor William to visit a French port. Omaha. Neb.-In a fight in a saloon Ed Joyce was instantly killed and Ed Caliahan mortally wounded. Havana.-Cubans had a big procession and mass meeting. A number of speeches were made, all in favor of absolute independence and union and urging the furtherance of work to secure this result. Chattanooga, Tenn.-Owing to the scarcity of coal and the unprecedented demand for commercial fuel, operators have advanced the price of domestic coal 25 cents a ton and commercial coal 10 cents. Morning View, Ky.- min Finnell was shot and killed by his son-inlaw, Austin Stephens. Stephens and wife separated about eight months ago, and she got a divorce. Stephens blamed Finnell as the author of his troubles. Stephens escaped. Fall River, Mass.- William Dolan and Jacob Shester, 16-year-old boys, died from injuries received in the Algonquin mill. They were piling clothing in a dryer when a valve admitting steam was accidentally turned on. Peeksill, N. Y.-Uriah Fouts of Cleveland, Ohio. died at the home of his son as a result of an internal fracture of the skull received by falling downstairs. Mr. Fouts was a republican and had a wide acquaintance with republican politicians and politics in Ohio and adjoining states. Manchester, N. H.-Judge Peaslee of the Supreme court has decided to appoint a receiver for the Bank of New England of this city. The bank owes depositors $41,928. Liabilities amount to $50,000. Assets are $48,193. Jacksonville, III-Hugh Wilson, contractor and manufacturer, has filed a voluntary petition in bankruptcy. He schedules his liabilities at $29,730 and his assets at $23,831. Washington-The strike of the electrical workers, which has been in progress for the past few weeks, has ended in a compromise, providing for an eight-hour day and time and a half for overtime. Madalin, N. Y.-The chief business block was destroyed by an incendiary fire, with a loss of $50,000. Springer, N. M. - H. M. Love, wounded by train robbers last Sunday, is dead. San Francisco, Cal.-Two masked men attempted to hold up David Lavani in his grocery and saloon. He resisted and was mortally wounded. The highwaymen escaped. Tucson, Ariz.-Dr. F. M. Endlich, a prominent mining engineer, shot and killed himself. He formerly lived in Los Angeles, and has a brother at Reading. Pa. Los Angeles, Cal-The police have arrested Clvde Mattox wanted at New-