gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
77a2a5c7dca3de15
Response Measures
None
Description
Closure caused by discovered accounting irregularities/embezzlement by the cashier; bank later authorized to reopen.
Events (4)
1.May 21, 1889Chartered
Source
historical_nic
2.December 29, 1898Receivership
Newspaper Excerpt
Bank Examiner E. H. Carroll ... stated that he had been appointed temporary receiver.
Source
newspapers
3.December 29, 1898Suspension
Cause
Bank Specific Adverse Info
Cause Details
Examination disclosed irregularities/shortage (~$30,000) caused by cashier Harry F. Bailey allowing heavy overdrafts and misappropriation.
Newspaper Excerpt
Bank Examiner E. H. Carroll ... confirmed the news ... that the Colebrook National bank had failed, and stated that he had been appointed temporary receiver.
Source
newspapers
4.June 16, 1899Reopening
Newspaper Excerpt
The Colebrook National bank, which suspended some months ago and was placed in the hands of a receiver, having complied with the conditions ... has been authorized to re-open its doors.
Source
newspapers
Newspaper Articles (21)
1.December 30, 1898The Wilmington Daily RepublicanWilmington, DE
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Failure of the Colebrook Bank. Colebrook, N. H., Dec. 30.-Bank Examiner E. H. Carroll late yesterday confirmed the news from Washington that the Colebrook National bank had failed, and stated that he had been appointed temporary receiver. He declined to give out any further statement. but a bank official said that the examination of the books, which has been in progress since Tuesday, had disclosed irregularities covering a period of Ave years. The amount of the shortage was placed at $30,000. Harry F. Bailey, cashier of the bank, Is under arrest as a defaulter.
2.December 30, 1898The Portland Daily PressPortland, ME
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BANK'S FAILURE ANNOUNCED. Washington, December 29. I The controller of the currency has received information of the failure of the Colebrook National bank of Colebrook, N. H. On the date of the last report, December 4. 1898, the capital of the bank was +75,000; surplus and undivided profits, $39,744; due to banks $16,243; due to depositors, $15,007; due for borrowed money, $21,450. Total resources $184,528. Bank Examiner E. M. Carroll has been appointed temporary receiver.
3.December 30, 1898The Portland Daily PressPortland, ME
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BANK H S RECEIVExaminer Carrol Has Been Placed In Charge of Colebrook Institution. Colebrook, December 29.-Bank Examiner Carrol is in charge of the Colebrook National bank and has been appointed temporary receiver. He declines to give out any statement at the present time and will not do so until a complete examination of the books has been made. All that Mr. Carrol would say was that he had been appointed temporary receiver The bank officials, however, stated late this afternoon that National Bank Ex. aminer Carrol in his examination had found irregularities on the books which covered a period of five years. They also announced that Cashier Bailey had been arrest complaced pletion under of the investigation. pending Mr. the Bailey will be arrsigned late this afternoon here The amount of the shortage is now placed at $30,000. President Van Dyke of the Colebrook National bank, who is in this city. was in close touch by telephone and telegraph with the officials of the bank, the bank examiner and the state authorities all day today and was not unprepared for the action of the Comptroller of the Currency. When the Associated Press despatch from Washington announcing the failure of the bank was shown him this afternoon, Mr Van Dyke stated that he presumed the government officials had taken the possible action under the circumstances. President Van Dyke stated that he would go to Colebrook as soon as possible after he has made provisions here for meeting any claims which may fall upon the DOB ton correspondent of the Colebrook bank. Further than this President Van Dyke would not discuss toe situation, saying that he told all be knew of the affairs last ight when he said that Cashier Bailey had permitted certain depositors to overdraw their account because he could not say "no He thought that about $30,J00 was the right amount. It'is generally understood that Cashier Bailey will not be given a hearing until Saturday. It is also announced that M. Bailey will waive examination and furnish bail for his appearance at a future hearing when the affairs of the bank have become thoroughly ascerained by the bank examiner and officials and others interested in the case. George Van Dyke, the president of the bank is expected to reach here from Boston on Saturday and will adopt measures for the protection of the depositors of the bank. In the mantime the interests of the officials and depositors are being looked after by Hon. Irving W. Drew of Lancaster. It is generally believed in Colebrook that a thorough examination will not disclose a shortage in the accounts of Cashier Bailey outside of the overdrafts he has allowed to be carried on. Arrangements have already been made by several of the parties who made overdrafts to make their is accounts tire number good will and settle it with thought the bank the en- in a few days. Savings Bank Examiner taker is expected here tonight and it is thought tomorrow will be taken up in the examination of the savings bank. BANK'S FAILURE ANNOUNCED. Washington, December 29.-The controller of the currency has received information of the failure of the Colebrook National bank of Colebrook, N. H. On last 4. ) was the 1898, date the of capital the of the report, bank December $75,000; ) surplus and undivided profits,$39,7 due to banks $16,243; due to depositors, $15,007; due for borrowed money, $21,450.
4.December 30, 1898New-York TribuneNew York, NY
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FAILURE OF COLEBROOK NATIONAL BANK. Colebrook. N. H., Dec. 29.-Bank Examiner E. H. Carroll confirmed this afternoon the news from Washington that the Colebrook National Bank had failed, and stated that he had been appointed temporary receiver. He declined to make any further statement, but a bank official stated that the examination of the books, which had been in progress since Tuesday, had disclosed irregularities covering a period of five years. They also announced that the cashier, Mr. Bailey, who is under arrest pending the completion of the Investigation, would be arraigned. The amount of the shortage was placed at $30,000. Washington, Dec. 29.-On the date of the last report, December 1, 1898, the capital of the Colebrook National Bank was $75,000; surplus and undivided profits, $39,744 due to banks. $16,243 due to depositors, $13,207; due for borrowed money, $21,458. Total resources, $184,528.
5.December 30, 1898The TimesWashington, DC
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A New Hampshire Bank Closes. The Comptroller of the Currency was notified yesterday that the National Bank of Colebrook, N. H., had just closed. It was placed in the hands of National Bank Examiner Edward H. Carroll, and he has been appointed temporary receiver. On December 1 the bank reported to the comptroller as follows: Surplus and undivided profits, $39,744; capital, $75,000; circulation, $16,675: due to banks, $16,343; due to depositors, $15, 807; due for money borrowed, $21,456; total resources. $164.520.
6.December 30, 1898The Evening HeraldShenandoah, PA
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Colebrook, N. H., Dec. 0.-Bank Examiner E. H. Carroll late yesterday confirmed the news from Washington that the Colebrook National bank had failed, and stated that he had been appointed temporary receiver, He declined to give out any further statement, but a bank official said that the examination of the books, which has been in progress since Tuesday, had disclosed irregularities covering a period of five years. The amount of the shortage was placed at $30,000. Harry F. Bailey, cashier of the bank, is under arrest as a defaulter.
7.December 30, 1898The Indianapolis JournalIndianapolis, IN
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RUINED BY ITS CASHIER. Colebrook (N. H.) National Bank Closed by Controller of Currency. COLEBROOK. N. H., Dec. ).-Bank Examiner E. H. Carroll late to-day announced that the Colebrook National Bank had failed and stated that he had been appointed temporary receiver. He declined to give out any further statement, but a bank official said the examination of the books, which has been in progress since Tuesday, has disclosed irregularities covering a period of five years. The amount of Cashier Bailey's shortage was placed at $30,000. On the date of the last report. Dec. 1, 1898, the capital of the bank was $75,000, surplus and undivided profits $39,744, due to banks $16,243, due to depositors $15,207, due for borrowed money $21,458; total resources, $184,528.
8.January 2, 1899Daily Kennebec JournalAugusta, ME
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BAILEY BOUND OVER. Colebrook Rank's Cashier Hold for United States Courts for Falsifying. Manchester, N. H., Jan. 1.-A special to de Union from Colebrook says: Harry H Bailey, cashier of the Colebrook Natonal Bank, was arraigned, yesterday aternoon. before United States Commis. siner Merrill Shurtleff of Lancaster, charged with falsifying his accounts and mking false reports to United States exapiners and comptrollers. le walved examination and was bound over in the sum of $10,000 for the coming tem of the United States court at Portsmath. which opens on the third Tuesday of next March. His sureties are George Vin Dyke, the other directors of the bink, and Irving W. Drew of Lancaster. I'll will be at least two weeks before the national bank affairs can be straightded out and the public definitely infirmed whether or not there is to be any mortage. The active members of the dinetorate appear to be much more deeply concerned than Mr. Balley himself. algrough it is apparent that the latter Beenly feels his position. "He is buoyed up. however, by the ympathy of a unanimous community Ind the assurances of his counsel that 11 will be cleared up. The directors. lowever thoughtless of the conditions hey may have been before, are greatly mbarrassed by the complications that OW confront them. and are doing everyhing in their power to get the national bank on a sound footing once more. ne depositors of the savings bank, who nearly all reside in town, or the immediate vicinity. were visibly anxious when it became known that that institution might be seriously complicated in the affair, but were much relieved when the Union la.d before them the statement of the bank commissioners, and little alarm is now manifested among them. There can be no doubt about the restoration of the $10,125 due the institution, and this will probably be done before the expiration of the 10 days' suspension voted by the trustees.
Colebrook Bank Fails. It is announced that the Colebrook National bank, whose cashier is under arrest for misappropriating some $34,000, will be closed. On the date of the last report, December 1, 1898, the capital of the bank was $75,000; surplus and undivided profits, $39,000; due to bank, $6243; due to depositors, $15,207; due for borrowed money, $21,458. Total resources, $184.528. Bank Examiner E. H. Carroll will be appointed temporary receiver.
NEWS IN GENERAL. America's Growing Power. The Russian government, through Count Cassini, the ambassador here, has informed the state department that it is prepared to negotiate a reciprocity treaty with the United States. A number of other European governments, notably Great Britain, France, Germany, Austria, and Italy, have recently shown a disposition to expedite negotiations toward the same end. Although some of these countries have made overtures to the state degartment in connection with reciprocity agreements, they did not, until lately, evince any great desire to press the business to a conclusion., Now. however, for some reason, they are all anxious to make treaties as soon as possible, and it is probable that the negotiations with some of them will be concluded shortly. The expected expansion of American trade in the Pacific through the acquirement of the Philippines and the Hawaiian Islands is believed to be the moving cause in this revival of interest. Colebrook Banks. A delegation of interested persons who went to Washington recently with the affairs of the Colebrook National Bank, which was compelled to close its doors some time ago, has returned and report its interview with the comptroller as satisfactory. It is expected by the first of April the bank will be unning again. The bank suspended last fall after it was found out that the treasurer had permitted heavy overdrafts on the part of certain stockholders. It is understood the overdrafts have been made good. The Colebrook Savings Bank, forced to suspend after the national benk closed, will resume business soon, and a new national bank, organized with a capital stock of $50,000, will open its doors within a short time. The new bank will be the Farmers and Traders National Bank. To Investigate Nature of Malaria. Prof. Robert Koch, the celebrated bacteriologist, who, in 1883, at the head of the German cholera commission, visited Egypt and India and then discovered the so-called "Comma" chclera bacillus, will start with an expedition next month for the tropics, to continue his investigation as to the nature and origin of the malaria. The German Reichstag has made a grant of 60,000 marks in aid of the undertaking.
gates* to the state convention are known to be friendly toward Senator Quay. Zachariah L. Bicksell died at Weymouth, Mass., aged 79. He was a 32nd degree Mason; was postmaster under President Buchanan, and again under President Cleveland, and represented the town in the legislature in 1862 and 1891. Assistant Secretary Spaulding has held that Japanese seamen may land in the United States without the examination required in the case of manifesto immigrants. This decision overrules that of the collector of customs at Port Townsend, Wash. Robert B. Mantell, the actor, has filed a petition in bankruptcy. Liabilities were placed at $14,000 and assets $1600. The principal claim which the petitioner seeks to be rid of is a judgment for $10,000 alimony given in New York in favor of his wife. The directors of the Colebrook (N. H.) National bank, which suspended some months ago, have been notified by the treasury department that their terms for reorganizing the bank are satisfactory. This means that the bank will resume business. Charles Reiffel, a civilian, employed in the quartermaster's department in the department of Santiago, was convicted of murder by court-martial and sentenced to death. The president has commuted the sentence to life imprisonment at Leavenworth, Kan. A combine of ice companies in 10 or more states with a capital of $10,000,000 and a probable increase of price now seems assured. The corporation will practically control the entire market of both natural and artificial ice from Buffalo to Kansas City. William Rockefeller has purchased the well-known Vilas tract of 16,752 acres in Waverly, N. Y. The tract is covered with virgin forest and includes numerous beautiful lakes and streams. It will insure the preservation of the timber without the state interfering. The consolidation of 23 leading fertilizer companies of the country has been completed. The new company will be known as the American Agricultural Chemical company, having a special charter under the laws of Connecticut. It has an authorized capital stock of $40,000,000. Secretary Gage has issued an order to the collector of customs at San Francisco directing him to permit the landing of 450 Chinese persons upon satisfactory proof that they are employed by exhibitors or concessionaires of the Philadelphia exposition to be held during the coming autumn.
12.June 10, 1899The Providence NewsProvidence, RI
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WILL REOPEN DOORS. Bank Commissioners Will Permit Colebrook Savings Bank to Resume Business. Colebrook, N. H., June 10.-The bank commissioners after a final inspection of the Colebrook Savings Bank have concluded to permit the bank to reopen. It suspended last winter at the time of closing of the Colebrook National bank. The books are in rather bad shape and it will take two or three weeks to get them straightened out, but the trustees say that no depositor will lose a dollar, although it is thought that the stock may be somewhat impaired. It is understood that additional bonds have been filed to ensure every depositor full payment. The management probably will continue, Mr. Currier, the cashier of the national bank being treasurer of the savings bank.
13.June 16, 1899Essex County HeraldIsland Pond, Guildhall, VT
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The Colebrook National bank, which suspended some months ago and was placed in the hands of a receiver, having complied with the conditions imposed by the comptroller of the currency which would enable it to resume business, has been authorized to re-open its doors.
14.September 13, 1899The Providence NewsProvidence, RI
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BAILEY ARRESTED. State Bank Commissioners Take Action Against Former Treasurer of Colebrook Savings Bank. Colebrook, N. H., Sept. 13.-Harry F. Bailey, formerly cashier of the Colebrook National Bank, and treasurer of the Colebrook Savings Bank, which suspended last winter, owing to discrepancies in the accounts of each, is under arrest charged with embezzlement of funds from the savings institution. The arrest, which was ordered by the New Hampshire bank commissioners, was made by the sheriff of Coos county. Bailey is held in the sum of $5000 for the October term of the Supreme Court. When the Colebrook National Bank was closed last December by order of the national bank examiners, Bailey was placed under arrest by the United States authorities, and bound over to the spring term of the United States court at Portsmouth. Strong influence was brought to bear, however, and as many believed Bailey had done no intentional wrong, the case against him was not pressed. The state bank commissioner who found a shortage in the accounts of the Colebrook Savings Bank was not willing to compromise matters, and a few days ago they decided to have Bailey taken into custody on account of the bank affair. Both banks were closed for several months, but are now doing business.
15.September 14, 1899The Indianapolis JournalIndianapolis, IN
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Former Bank Cashier Under Arrest. COLEBROOK, N. H., Sept. 13.-Harry F. Bailey, formerly cashier of the Colebrook National Bank and treasurer of the Colebrook Savings Bank, both of which suspended last winter, owing to discrepancies in the accounts, is under arrest, charged with embezzlement of funds from the savings institution. Bailey was given a hearing to-day and held in $5,000 bonds for the October term of the Supreme Court.
16.September 14, 1899The Portland Daily PressPortland, ME
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Annie H., b m, by Alcantara 4 1 1 (Haines) 8 2 2 Easter, blk f (Pinkham) 2 8 3 L. J. B., b g (Brackett) 8 7 4 Frank Onward, bg (Stanwood) 5 3 5 Otho, blk g (Mitchel) 7 4 7 Little Glimmer, b g (Stuart) 6 5 6 Tom O'Neil, blk g (Woodbury) 1 6 dr Lady Grassmere, b III (Howe) Time-2.28 1-4, 2.36 1-2, 2.30. CASHIER BAILEY ARRESTED. Colebrook, N.H, September 18.-Harry F. Balley, formerly oashier of the Colebrook National bank and treasurer of the Colebrook Savings bank, which suspended last winter owing to discrepancies in the accounts of each, is under arrest charged with the embezzlement of funds from the savings institution. The arrest, which was ordered by the New Hampshire bank commissioners was made by the sheriff of Coos county. Bailey is held in the sum of $5.000 for the October term of the Supreme court When the Colebrook National bank Was closed last December by order of the National bank examiners, Bailey was placed under arrest and was bound over to the spring term of the United States court at Portsmouth. Strong influence was brought to bear, however, and as man? believed Railey had done no intentional wrong, the case against him was not pressed. The state bank commissioners who found a shortage in the accounts of the Colebrook Savings bank, were not W lling to compromise matters and a few days ago they decided to have Bailey taken into custody on account of the savings bank affairs. Both banks were closed to business for several months but are now doing business.
17.September 15, 1899Little Falls Weekly TranscriptLittle Falls, MN
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Bank Official Under Arrest. COLEBROOK, N. H., Sept. 14.-Harry F. Bailey, formerly cashier of the Colebrook National bank and treasurer of the Colebrook Savings bank, both of which suspended last winter owing to discrepancies in the accounts, is under arrest charged with embezzlement of funds.
18.September 15, 1899The Madison Daily LeaderMadison, SD
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Bank Official Under Arrest. COLEBROOK, N. H., Sept. 15. -Harry F. Bailey, formerly cashier of the Colebrook National bank and treasurer of he Colebrook Savings bank, both of which suspended last winter owing to discrepancies in the accounts, is under arrest charged with embezzlement of funds.
Bank Official Under Arrest. COLEBROOK, N. H., Sept. 14.-Harry F. Bailey, formerly cashier of the Colebrook National bank and treasurer of the Colebrook Savings bank, both of which suspended last winter owing to discrepancies in the accounts, is under arrest charged with embezzlement of funds.
Charged With Embezzlement. Colbrooke, N. H., Sept. 15. - Harry F. Bailey, formerly cashier of the Colbrooke National bank and treasurer of the Colbrooke Savings bank, both of which suspended last winter, is under arrest, charged with embezzlement of funds. He has been held to the supreme court.
21.December 21, 1899The Providence NewsProvidence, RI
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PAYMENT IN FULL Depositors in the Cocheco National Bank Will Soon Receive Final Dividend of 25 par Cent. Dover, N. H., Dec. 21.-The depositors in the defunct Cocheco National Bank are to be paid in full without the necessity of the receiver having to assess the stockholders. An order from Washington directs Receiver E.H.Carroll to pay a dividend of 25 per cent. as soon as possible. The payment of this dividend will bring the total disbursed by the receiver since the bank's failure last summer to 100 per cent. The settlement is one of the most rapid known in the history of embarrassed banks in this state, as it generally takes from three to six years to bring about the liquidation of a crippled institution. The settlement of the bank's affairs took about six months. The affairs of the Cocheco Savings bank which was closed at the time of the failure of the National Bank are still in an unsettled condition, but the assignee is making satisfactory progress and it is thought the loss to depositors when the concern is wound up, will be insignificant. Bank Examiner Carroll also has had charge of the affairs of the Colebrook National Bank of Colebrook which was closed a year ago. In a short time he was able to collect $112,000 of the bank's funds and pay up the entire amount due the depositors. The Colebrook National Bank and the Colebrook Savings Bank, which also was temporarily embarrassed, were re-opened and are in good condition
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.
