Lowell Five Cent Savings Bank (Lowell, MA)

Episode Information

Episode UID
53003670953
Episode Type
Suspension โ†’ Reopening
Bank Type
state
Bank ID
5300367 routing
Routing Number
53-0036
Start Date
May 24, 1879
Location
Lowell, Massachusetts (42.633, -71.316)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
4930630064ae2d75

Response Measures

None

Description

Bank was temporarily enjoined by the Bank Commissioner and reported as suspended; later outcome not provided in these articles.

Events (1)

1. May 24, 1879 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Withdrawals of deposits and shrinkage on mortgages prompted a temporary injunction by the Bank Commissioner and led to suspension.
Newspaper Excerpt
The Lowell Five-Cent Savings Bank has suspended, and all the other Lowell banks will require sixty days' notice for sums over $50.
Source
newspapers

Newspaper Articles (2)

Article from Wheeling Register, May 23, 1879

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Article Text

THE CREAM OF THE NEWS. Gathered from Our Dispatches. Subscriptions to four per cent. refundng certificates, since yesterday's report, $1,063,580. The New York Legislature adjourned sine die, yesterday. Widow D. P. Stone has given $25,000 to the Young Men's Christian Association of Boston, toward erecting a new building. The Lowell, Mass., Five-Cent Savings Bank has been temporarily enjoined by the Bank Commissioner. Withdrawals of deposits and shrinkage on mortgages was the cause. William Lloyd Garrison is ill. His death is hourly expected. it Portland, Oregon, dispatch says the town of Dallas was nearly destroyed by fire. Loss not estimated. Sam Patch has been outdone. A young man named Peere has accomplished the unprecedented feat of leaping from the new suspension bridge at Niagara Falls, a distance of 192 feet, coming out safe and sound. Patch jumped 142feet. Hon. Charles Foster has written a letter stating that he is certain of receiving the Republican nomination for Governor of Ohio, and that he will not accept the second place on the ticket. It is said that Sherman has written another letter in reference to the Ohio gubernatorial candidacy, to be used in the contingency that neither Taft nor any other candidate receives the nomination on the first or second ballot; and if then Sherman's name be presented, the letter will be read to convince the doubting that he will run if nominated.


Article from The Daily Dispatch, May 24, 1879

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Article Text

The cental system, whereby general produce. sold by measure shall hereafter be reckoned by the hundred pounds, meets the views of the Produce Exchange in the proportion of two to one. Out-of-town deslers should note the direction of the wind by the movement of this straw.-New York Herald. The latest official returns we have to hand give 7.145,370 horses to the United States, 20.000.000 to Russia, 3,000,000 to Germany, 3,578,513 to Austria, 3,163,000 to France, and 2,115,068 to England.-New York Journal of Commerce. The new liquor law for Illinois permits all persons, male and female, to vote on the question whether license shall be granted in their town. There is a special and different law for the larger cities. The Lowell Five-Cent Savings Bank has suspended, and all the other Lowell banks will require sixty days' notice for sums over $50. Herace Waters & Sons, of New York, have failed. Plano-men, All the Democratic candidates were electcu-in Alexandria Thursday,