gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f03d7a6bc6ff6d60
Response Measures
None
Description
State commissioners suspended the bank and later acted as its receivers, indicating permanent closure.
Events (3)
1.January 1, 1925*Run
Cause
Rumor Or Misinformation
Cause Details
Unusual withdrawals precipitated by rumors concerning the bank's loans.
Newspaper Excerpt
Some unusual withdrawals of funds were said to have been precipitated last week by rumors regarding the bank's loans.
Source
newspapers
2.January 13, 1925Suspension
Cause
Government Action
Cause Details
State bank commissioners suspended the bank's business pending an investigation.
Newspaper Excerpt
This bank is closed by order of the court. The state bank commissioner suspended the business of People's Trust Company today pending the result of an investigation of its affairs.
Source
newspapers
3.February 24, 1925Receivership
Newspaper Excerpt
The Lebanon Machine Company... was placed in the hands of receivers today... The petition for receivership was brought by Leo Gerry and George E. Farrand, state bank commissioners who are the receivers of the bank.
Source
newspapers
Newspaper Articles (10)
1.January 14, 1925The Springfield Daily RepublicanSpringfield, MA
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Article Text
grief, resentment and jealousy. BANK'S DOORS CLOSED Told under the title, Tattoo," there AT LEBANON, lesson and warning here Lebanon, N. H., Jan. state for every girl. It appears as bank commissioner suspended the busthe many Story Magazine for Feb- iness of the Peoples' Trust company ruary. Don't today pending the result of an investigation of its affairs, likely to occupy several days. notice posted on the door saying: "This bank is closed by order of the court," was the only ofnewsstands 25$ ficial announcement. The commissioners said they buld make no statement until their inquiry had been completed. Some unusual withdrawals of funds were to have been precipitated last week by rumors regarding the bank's loans, The formal report the issued today as December 31, last, loans the of $566,857 on real estate $390,917 on personal Lotes. Deposits the bank subject to check amounted Loans discounts were placed at $361,000
2.January 14, 1925The Morning UnionSpringfield, MA
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Article Text
Commission Closes Trust Company
Lebanon (N. H.) Institution's Affairs Under State Probe.
H., Jan. 13-The Bank the business of the People's Trust Company today pending result of an investigation of its affairs, likely to occupy days. notice posted on the door saying "This bank is closed by order of the only The commissioners, Leon B. Gerry Farrand said they no inquiry had Some of funds to precipitated last by rumors regarding the bank's loans. The formal report of the bank's condition issued today as of Dec. 31 last in the savings of $566,857 and $390,917 personal De. the bank subject to check amounted to $233,549 Loans and discounts were placed at
3.January 14, 1925Daily Kennebec JournalAugusta, ME
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Article Text
Close Lebanon, N. H., Trust Co. Pending Probe by Bank Com. Lebanon, N. H., Jan. 13.-The state bank commissioner suspended the business of the People's Trust Company today pending the result of an investigation of its affairs, likely to occupy several days. The commissioners, Frederick S. Nutting, Leon B. Gerry and George E. Farrand, said they would make no further statement until their inquiry had been completed. Some unusual withdrawals of funds were said to have been precipitated last week by rumors regarding the bank's loans. The formal report of the bank's condition issued today as of December 31, last shows loans in the savings department of $566,857 on real estate, and $390,917 on personal notes. Deposits at the bank subject to check amounted to $233,549.09, loans and discounts were placed at $361,000.
4.January 14, 1925Hartford CourantHartford, CT
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Article Text
NEW HAMPSHIRE BANK ORDERED TO CLOSE
Lebanon. H., Jan. state suspended the business of People's Trust today the affairs. likely to occupy several days.
5.January 14, 1925The Bangor Daily NewsBangor, ME
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Article Text
United States submarine S-19, with personnel of 40, runs aground on clay bank off Cape Cod, but remains without serious damage and reseuing cutters are expected to put her off. Indictments charging larceny of $24,783 and perjury are returned by grand jury in Boston against Caleb S. Jackson, former treasurer of Eastern Massachusetts Street Railway and Its subsidiary, the Eastern Mutual Insurance Co. Two men are killed and a woman injured on icy pavement accidents in New York City. Final plenary session of Allied finance ministers in Paris is announced for today. Organization of vast international coalition of theatrical interests Is announced in New York City. Estate of the late Senator Henry Cabot Lodge is estimated at $1,100,000 personal and $150,000 real estate, in connection with filing of will In Salem. More than 20 lives are lost when Berlin-to-Cologne express crashes Into standing train in station at Herne, Westphalia. People's Trust Co., of Lebanon, N. H., is closed by state bank examiners. Howard Carter, British Egyptologist, is reported from Caire to have reached an agreement with Egyptian government for resumption of work on Tut-ankh-amen's tomb.
6.January 14, 1925The Bangor Daily NewsBangor, ME
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Article Text
AFFAIRS OF PEOPLES TRUST CO. AT LEBANON, N. H.
N. Jan 13-The bank suspended the business of the People's Trust Company today, pending result an investigation affairs, likely to occupy several days. The Frederick NutLeon Gerry and George E. Farrand said they would make further statement until their inquiry had been Some unusual withdrawals of funds have been precipitated week by rumors garding bank's loans. The formal report of the bank's condition issues today December 31. last, shows loans the savings department $566,857 on real estate $390,917 personal notes. Deposits the bank subject check amount$233.549 loans and discounts were placed at
7.January 14, 1925Record-JournalMeriden, CT
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Article Text
Bank Commissioner Closes Lebanon Bank
Lebanon. N. H. Jan. state bank the business of the People's Trust today the result of an of its affairs, likely to days. notice posted the door "This bank is closed by order the court was the only official an The Frederick S. Nutting. Leon B. Gerry and E. Farrand said they would no further statement until their inquiry had been Some unusual of funds were said have been precipitated last by rumors garding the bank's loans, The formal of the condition issued today as of December
8.January 14, 1925The Lewiston Daily SunLewiston, ME
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Article Text
PEOPLE'S TRUST CO. LEBANON CLOSED
Report Run On Bank Last Week Followed Rumors Regarding Loans
New Hampshire Commissioners Say Institution Closed Pending An Investigation
Lebanon Jan. State bank suspended the of the People's Trust today, the result of its affairs, likely occupy several days. The commissioners, Frederick Leon Farrand said they would further until their inquiry had completed. withdrawals funds said to been precipitated last by regarding the bank's loans. The formal of the bank's condition issued today of Dec. 31, last shows savings department $566. 857 on Deposits the 540.09. discounts were placed this suit was entered the Trust recovtotal $130,000 from the Manchester Marble Co., Rutland, on promissory notes and overdrafts. The commissioner not say whether nection with the closing of the institution. notice posted on the door the closed by order the Court." It signed the State Bank commissioners.
9.January 15, 1925Springfield Weekly RepublicanSpringfield, MA
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Article Text
NEW HAMPSHIRE
Lebanon, H., 13-The state missioner iness Peoples' Trust pending result investigation affairs, likely occupy several notice posted saying: "This bank court," ficial The commissionmake inquiry ended. completed. unusual withdrawals said have rumors regarding formal report bank's issued as last, savings department $566,857 on real $390,917 on personal notes. Deposits subject check amounted placed
Keene, Jan. 10-Mrs Mary Vodren Modix, Daniel resident, today of children Syracuse, Her observed 101st birthday.
10.February 25, 1925Daily Kennebec JournalAugusta, ME
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Article Text
N. H. Machine Co. In Hands Receiver Lebanon, N. H., Feb. 24-The Lebanon Machine Company, Inc., a subsidiary of the Peoples Trust Company, whose former treasurer, Arthur H. Hough, is now on bail of $10,000 on charges of falsifying the bank's accounts, was placed in the hands of receivers today by Judge William H. Sawyer of the superior court. The company. which manufactured pumps and highway signs, is indebted to the bank in the sum of $260,000. Its stock was widely distributed among New Hampshire residents. Hough was president of the machine company and its board of directors was the same as that of the bank. The petition for receivership was brought by Leo Gerry and George E. Farrand. state bank commissioners who are the receivers of the bank. Judge Sawyer appointed Arthur C. Burleigh and R. B. Jacobs, president of the New Hampshire Manufacturer's Association, receivers of the Machine Company. Hough was arrested on charges of falsification about six weeks ago when examination of the bank's accounts was alleged to have disclosed large discrepancies.
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.
