Cambridge Bank (Cambridge, MA)

Episode Information

Episode UID
2250054791322
Episode Type
Suspension โ†’ Closure
Bank Type
state
Bank ID
225005479 hash
Start Date
February 24, 1910
Location
Cambridge, Massachusetts (42.376, -71.118)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
bfba0ebee31dd293

Response Measures

None

Description

Failure tied to large-scale embezzlement by a bookkeeper (George W. Coleman) and appointment of a receiver.

Events (4)

1. February 24, 1910 Receivership
Newspaper Excerpt
new receiver, Former Governor John L. Bates, but the real investigation will not begin until tomorrow, when the experts will get at the accounts.
Source
newspapers
2. February 24, 1910 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Large-scale theft/embezzlement by bookkeeper George W. Coleman leading to insolvency and appointment of a receiver
Newspaper Excerpt
The books of the bank were given a cursory examination today by Bank Examiner Ellis S. Pepper and the new receiver, Former Governor John L. Bates
Source
newspapers
3. February 1, 1913 Receivership
Newspaper Excerpt
Mr. Bates' statement follows: In reference to an alleged confession by William J. Keliher ... Mr. Bates, the receiver of the bank, says...
Source
newspapers
4. April 29, 1913 Receivership
Newspaper Excerpt
Receiver Seeking to Recover Money for a Cambridge Bank GEO. W. COLEMAN IMPORTANT WITNESS
Source
newspapers

Newspaper Articles (3)

Article from Daily Kennebec Journal, February 25, 1910

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Article Text

Interesting Information as To Disposition Made Of Funds of Cambridge Bank ---Co!eman Lavish Spender. Fails to Snow Up in Cambridge at The Time Announced. Cambridge, Mass., Feb. 24.-The failure of George W. Coleman, the $12-aweek bookkeeper of the National City Bank, who is accredited with having appropriated some $144,000 of the bank's funds, to appear in Boston or this city tonight, although an attorney claiming to represent him declared he was on his way back, has led to the very general estimate that Coleman will not be seen here soon again, unless brought back by officers and that the intimation that he was to return might be a ruse to give him more time to get away. The books of the bank were given a cursory examination today by Bank Examiner Ellis S. Pepper and the new receiver, Former Governor John L. Bates, but the real investigation will not begin until tomorrow, when the experts will get at the accounts. Investigations made through the day as to how Coleman disposed of the large amounts of money he is supposed to have secured brought out a variety of information. It is claimed that the young man was deeply interested in the recent mayoralty campaign in Boston and contributed no less than $10.000 to the expenses of one of the candidates who failed of re-election. It is also claimed that he dropped fully $30,000 during the past year on the curb market. Other alleged revelations (Continued on Page Twelve.)


Article from Daily Kennebec Journal, February 1, 1913

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Article Text

to Keliher, and published here. today. In the published story the confidence man is quoted as going into the details of his operations much as they were revealed in court. Keliher is in the Charlestown state prison, where he is serving a sentence of from 15 to 18 years. Mr. Bates' statement follows: "In reference to an alleged confession by William J. Keliher, published in one of the morning papers, Mr. Bates, the receiver of the bank, says that he is informed by the paper that published the alleged confession that it obtained its information directly from Mr. Keliher. Mr. Bates would neither confirm nor deny the statements made in the article, further than to say that Mr. Keliher had made to him some weeks ago a complete statement of all the facts in the case, so far as he had knowledge of them." United States District Attorney French said, today, that if any statement made by Keliher regarding the missuse of funds stolen from the Cambridge bank was substantiated he would, of course, bring any criminal action required. He added, however, that he already had in his possession two alleged confessions" of the confidence man and he would need to examine any further "confession with a microscope" before he was convinced of its value to the state. He had known for sometime, he said, of the statement obtained by Mr. Bates.


Article from The Brattleboro Daily Reformer, April 29, 1913

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Article Text

NOW SUING DIRECTORS Receiver Seeking to Recover Money for a Cambridge Bank GEO. W. COLEMAN IMPORTANT WITNESS Young Man Who Is Serving Sentence In Jail in Greenfield Brought to Boston to Tell About the Bank Which He Wrecked Through Thefts. BOSTON, April 29.-George W. Coleman, who is serving a sentence in the jail in Greenfield for his part in