Central Trust Company (Providence, RI)

Episode Information

Episode UID
4242652791307
Episode Type
Suspension โ†’ Closure
Bank Type
trust
Bank ID
424265279 hash
Start Date
November 4, 1908
Location
Providence, Rhode Island (41.824, -71.413)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
df9f248475b4135b

Response Measures

None

Description

State bank commissioner closed the company and sought a receiver; later liquidated in January 1909.

Events (3)

1. November 4, 1908 Suspension
Cause
Government Action
Cause Details
State Bank Commissioner Goodwin took control and closed the company's doors, applying for an injunction and receiver as unsafe for depositors.
Newspaper Excerpt
Bank Commissioner W. P. Goodwin today assumed control of the Central Trust Company... and closed its doors pending court proceedings.
Source
newspapers
2. January 19, 1909 Other
Newspaper Excerpt
Central Trust Company of this city, which was liquidated January 19.
Source
newspapers
3. January 20, 1909 Receivership
Newspaper Excerpt
Richard E. Lyman, an attorney, was appointed permanent receiver of the Central Trust company of this city today by Judge William H. Sweetland in the superior court.
Source
newspapers

Newspaper Articles (15)

Article from The Star and Newark Advertiser, November 4, 1908

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Article Text

RECEIVER FOR PROVIDENCE BANK. PROVIDENCE, R. I., Nove 4.-With the approval of the Rhode Island State Board of Bank Incorporation, William T. Goodwin, State Bank Commissioner, today took control of the Central Trust Company, of this city, and applied to the Superior Court for the appointment of a receiver.


Article from Evening Times-Republican, November 4, 1908

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Article Text

TAKES OVER TRUST COMPANY. Rhode Island State Bank Commissione Applies for a Receiver. Providence, R. I., Nov. 4.-State Bank Commissioner Goodwin today took control of the Central Trust company of this city, and applied to the court for a receiver, and for the issuance of an injunction to restrain the bank from doing business, claiming that it was hazardous for the public to deposit its funds with the institution.


Article from Evening Journal, November 4, 1908

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Article Text

Trust Company Closes. PROVIDENCE, Nov. 4.-Bank Commissioner William P. Goodwin today assumed control of the Central Trust Company and closed its doors pending court proceedings. He has applied for a receiver and for an injunction restraining business. claiming to the court that the banks condition is unsafe to depositors.


Article from Alexandria Gazette, November 4, 1908

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Article Text

Bank Commissioner W. P. Goodwin today assumed control of the Central Trust Company, at Providence, R. I., and closed its doors pending court proceedings. He has applied for a receiver and for an injunetion restraining business, claiming to the court that the bank's condition is unsafe to depositors.


Article from Waterbury Evening Democrat, November 5, 1908

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Article Text

Takes Control of Bank. Providence, R. I., Nov 5. With the approval of the Rhode Island state board of bank incorporation,, William T. Goodwin, the state bank commissioner, yesterday took control of Central Trust Co of this city and applied to the superior court for the appointment of a receiver and for the issuance of an injunction to restrain the bank from doing business, claiming that it was hazardous for the public to deposit their funds with the in. stitution.


Article from The Labor World, November 7, 1908

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Article Text

BANK COMMISSIONER IN CONTROL OF COMPANY PROVIDENCE, R. I., Nov. 4.-With the approval of the Rhode Island state board of bank incorporation, William T. Goodwin, the state bank commissioner today took control of the Central Trust company of this city and applied to the superior court for the appointment of a receiver and for the issuance of an injunction to restrain the bank from doing business, claiming that it was hazardous for the public to deposit their funds with the institution.


Article from New-York Tribune, November 22, 1908

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Article Text

CENTRAL TRUST CO. TO PAY IN FULL. Providence,, Nov. 21.-At a hearing in the Superior Court to-day counsel for the Central Trust Company, of this city, which went into the hands of a temporary receiver recently, said that plans were being formed whereby every depositor would be paid in full and the bank reopened. The court deferred the appointment of a permanent receiver four weeks. Counsel said that four weeks would be needed to perfect organization. Failure to meet certain requirements of the state banking laws, alleged by the bank examiner, brought about the receivership.


Article from Norwich Bulletin, January 21, 1909

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Article Text

Receiver for Central Trust Co., Providence. Providence, R. I., Jan. 20.-Richard E. Lyman, an attorney, was appointed permanent receiver of the Central Trust company of this city today by Judge William H. Sweetland in the superior court. Receiver Lyman immediately took charge of the company's affairs.


Article from The Star and Newark Advertiser, January 28, 1909

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Article Text

MADE NEW ENGLAND FIRE INSURANCE CO.'S RECEIVER. PROVIDENCE, R. I., Jan. 28.-Robert L. Spencer, of this city, was today appointed permanent receiver of the New England Fire Insurance Company, one of the largest stockholders of the Central Trust Company, of this city, which was liquidated January 19.


Article from Albuquerque Morning Journal, January 29, 1909

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Article Text

Receiver for Insurance Company. Providence, R. I., Jan. 28.-Robert L. Spencer, of this city, was this afternoon appointed permanent receiver for the New England Fire Insurance company, one of the largest stockholders of the Central Trust company of this city, which was liquidated January 18.


Article from The Ogden Standard, January 29, 1909

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Article Text

Providence, Jan. 28.-Robert L. Spencer of this city was this afternoon appointed permanent receiver for the New England Fire Insurance company, one of the largest stockholders of the Central Trust company of this city, which was liquidated January 19.


Article from The Montgomery Advertiser, January 29, 1909

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Article Text

Spencer is Receiver. Providence, R. I, Jan. 28.-Robert L. Spencer, of this city, was this afternoon appointed receiver of the New England Fire Insurance Company, one of the largest stockholders of the Central Trust Company of this city, which was liquidated January 19.


Article from The Salt Lake Herald, January 29, 1909

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Article Text

Providence, R. I., Jan. 28.-Robert L. Spencer of this city was this afternoon appointed permanent receiver for the New England Fire Insurance company, one of the largest stockholders of the Central Trust company of this city, which was liquidated Jan. 19.


Article from Tonopah Bonanza, January 30, 1909

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Article Text

RECEIVER NAMED FOR INSURANCE COMPANY (By Associated Press.) PROVIDENCE (R. I.), Jan. 29.Robert L. Spencer of this city was this morning appointed permanent receiver for the New England Fire Insurance company, one of the largest stockholders of the Central Trust company of this city, which was liquidated January 19.


Article from The Enterprise, February 3, 1909

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Article Text

Receiver for Fire Risk Firm. Providence, R. I., Jan. 29.-Robert L. Spencer of this city was yesterday afternoon appointed permanent receiver of the New England Fire Insurance Company, one of the largest stockholders of the Central Trust Company of this city, which was liquidated January 19.