Article Text
Great Faith in B Savings Bank. TAUNTON, Mass., December 12.The Taunton savings bank suspended to-day. It is thought the depositors will be paid in full.
Taunton Savings Bank (Taunton, MA)
Episode Information
- Episode UID
53020470936- Episode Type
- Suspension → Closure
- Bank Type
- savings
- Bank ID
-
5302047routing - Routing Number
53-0204- Start Date
- December 12, 1877
- Location
- Taunton, Massachusetts (41.900, -71.090)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
e7b639e39f13205b
Response Measures
None
Description
Newspapers report suspension Dec 12, 1877 and are ambiguous about ultimate status; one source groups it among institutions that went into voluntary liquidation.
Events (1)
1.
December 12, 1877
Suspension
- Cause Details
- Newspapers report suspension of payments; no explicit cause given (some mention solvency or real estate assets but no run or government seizure).
- Newspaper Excerpt
- The Taunton Savings Bank suspended payments to-day. The bank is, however, reported solvent, and it is thought the depositors will be paid in full.
- Source
- newspapers
Newspaper Articles (11)
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Another Savings Bank Added to the Long List. NEWARK, N. J. December 12.-The Newark Savings Bank, the largest and oldest in the city, chartered 30 years ago, has just been taken charge of by the the Chancellor on the petition of its managers to insure an equal distribution of the assests and prevent unfairness from a possible run. The bank has about eleven millions assets, including depreciated recurities, and two millions of government bonds. The deposits are eleven millions. The Chancellor orders the payment of 18 per cent of the principal to depositors with two per-cent interest January 2d, meanwhile he will make a full investigation. The moneya hereafter deposited are to be kept separate and invested. TAUNTON, MASS., December 12.-The Taunton Savings Bank suspended payment to-day. It is reported solvent and it is thought the depositors will be paid in full.
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THE TAUNTON SAVINGS BANK SUSPENDED. TAUNTON, Mass., Dec. 12.-The Taunton Savings Bank suspended payments to-day. The bank is, however, reported solvent, and it is thought the depositors will be paid in full.
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Parade of Workingmen. WASHINGTON, Dec. 12. A procession of several thousand workingmen of the District paraded today. The President spoke a few words in acknowledgement of the compliment. They then proceeded to Ford's Opera House, where a mass meeting took place after the passage of a series of resolutions in support of the labor movement. Republican State Senator Elected. CHARLESTON, S. C., Dec. 12. The election for Senator in Beaufort county, which includes several of the Sea Islands, containing 8 large negro population, took place on Monday, Notwithstanding a vigilant Democratic canvass J. W. Collins, the Republican candidate, is elected by 1,500 majority. This is the first election in this State this year which has been carried by Republicans. Matthews Resolution Discussed-The Colorado Contested Case. WASHINGTON, Dec. 12. The Senate considered Matthews' resolution declaring the right of the Government to pay bonds in silver. Discussion on the Colorado contested election case was resumed, and continued up to adjournment. A bill was introduced authorizing the extension of the Southern Pacific Railroad to the Rio Grande. A Savings Bank Suspended. TAUNTON, Mass., Dec. 12. The Tannton Savings Bank suspended payment to-day. It is reported solvent, and it is thought depositors will be paid in full
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Suspension. TAUNTON. December 12. The Taunton savings bank has suspended payment. It is represented as insolvent, having $123,000 in real estate. There is said to be no doubt that the depositors will be paid in full. -
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SAVINGS BANK SUSPENSION. TAUNTON, Mass., Dec. 12, 1877. The Taunton Savings Bank suspended payment today. The bank is, however, reported solvent, and it is thought the depositors will be paid in full.
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DOMESTIC. A LARGE number of saloon-keepers have been recently arrested in New York City for violating the local License laws, and hundreds of the saloons have been closed. THERE were received in Chicago, on the 11th, over 55,000 live hogs-the largest day's receipts since Chicago became a livestock market. THE Newark (N.J.) Savings Institution, the largest in the State, was taken in charge by the Chancellor, on the 12th. The assets are nominally $12,000,000 and the deposits $11,000,000. THE Taunton (Mass.) Savings Bank failed, on the 11th. It was believed that depositors would be paid in full. THE National Council of the Union League of America met at Philadelphia, on the 12th, and re-elected all its old officers. AT the meeting of the Base-Ball League, composed of the professional baseball players of the country, recently held at Cleveland, it was voted that all League Clubs be prohibited from playing on the Sabbath under penalty of expulsion. THE German-American Savings Bank, of Chicago, suspended, on the 11th. Liabilities,$175,000. It was believed that depositors would be paid in full. THE Chinese question was the leading subject of attention at the Cabinet meeting, in Washington, on the 14th, and the views of some of the members seemed to be that some modification of the treaty relations between China and the United States might be made in order to limit the importation of Chinese. It was thought not unlikely that the President would, at some future time, make this question the subject of a special message to one or both houses of Congress. IT was reported from Galveston, Tex., on the 15th, that a force of Mexican marauders had crossed the Rio Grande into El Paso County, and fighting was reported to be in progress between Texas State troops and the marauders. The latter outnumbered the former, and the Governor of Texas had telegraphed President Hayes for Government troops. A Washington telegram of the 15th says Government advices from the seat of the disturbance did not warrant the impression that other than local troubles had presented themselves. Directions had been given for the mustering of the forces in Texas in such positions as to give nesessary aid to prevent assaults upon American citizens or their property. FEW days since, an armed and masked mob took possession of the Town of Osceola, Mo., went to the Court-House and seized and carried away all documents relating to tax matters. The trouble arose from the levy of a special tax to pay judgments for pastdue interest on railroad bonds. PERSONAL AND POLITICAL. AT the recent election in Boston, Pierce (Rep.) was elected Mayor by 2,151 majority. Themunicipal election in Charleston, S. C., on the 11th, resulted in the success of the Democratic ticket by e heavy majority. W. W. Sole was the Democratic candidate for Mayor, and D.F. Fleming the Independent candidate. THE President, on the 12th, nominated J. C. Bancroft Davis, of New York, to be Judge of the United States Court of Claims, vice G.1 Loring, resigned, the change to take place Jan. 1. IN Executive session, on the 12th, the United States Senate rejected two of the President's nominations for the New York
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DOMESTIC. Disturbances continue in El Paso county, Texas. The Governor of Texas has called on the President for troops, and they are hastening to relieve the beseiged State force. The Receiver of the N. Y. National Trust Co., promises a dividend of 50 per cent. Watson J. Hildreth and James M. Tighe, New York lawyers have fled, after embezzling $50,000. The President and Secretary of the Atlantic Mutual Life Insurance Company; of Albany, have been indicted for perjury. In the late Georgia elections, the Independents beat the Bourbons in nearly every case where there were Independent nominations. The health of Samuel Bowles is improving. The Simpson Bank, of Leavenworth, Kansas, has gone into voluntary liquidation. The Newark Savings Institution, the largest in New-Jersey, is in trouble from bad investments. The Taunton, Mass.. Savings Bank suspended last week. The Republicans a of Boston elected their Mayor by a majority of 2,151. General Sheridan says there is no danger of war with Mexico. J. Bancroft Davis has been appointed and confirmed judge of the Court of Claims.
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-The Newark (N.J.) Savings Bank, the largest and oldest in the city suspended on the 12th inst. The Taunton (Mass.) Savings Bank also suspended on the same day.
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Savings Bank Failures. NEWARK, (N. J.,) December 12.-The Newark Savings Institution, the largest and oldest in the city, has just been taken charge of by the Chaucellor on the petition of its managers, to ensure an equal distribution of the assets and prevent unfairness from a possible run. The bank has about $12,000,000 of assets, including depreciated securities, and $2,000,000 of government bonds. The deposits are $11,000,000. The Chancellor orders the payment of 18 per cent. of the principal to depositors with two per cent. interest. In the meantime he will make full investigation. The moneys hereafter deposited are to be kept separate and invested. TAUNTON, (Mass.,) December 12.--The Taunton Savings Bank suspended payment to-day. It is reported to be solvent, and it is thought that depositors will be paid in full.
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Bank Suspensions. The bank suspensions during the past fortnight have not been of sufficient number or importance to cause an alarm among depositors in reputable and well established institutions. All told, they number eight, including those that went into voluntary liquidation on account of declining business, and profess to be able to pay their liabilities in full. The institutions thus closed are the Taunton (Mass.) savings bank, Springfield (III.) savings bank, Oriental savings bank. New York, National Trust company, New York, Newark (N. J.) ;savings bank, Simpson's bank, Lawrence, Kansas, George Baker's banking house, Chester, Penu., and Gardner Mercer's private banking house, Geness, N. Y. The liabilities of these institutions range all the way from $11,00,000 to $30,000, those of the Newark bank being the heaviest. The failures will do something to clear the financial atmosphere. In times of depression the weak concerns go to the wall, while the strong ones stand up more firmly against the adverse tide. The year 1877 has left the country pretty full of financial wrecks, but it is evident that the weak crafts have nearly all gone down, and we may reasonably hope for better results in 1878.