Shawmut National Bank (Boston, MA)

View Charter #582 on SPMC View balance sheet

Episode Information

Episode UID
58201235
Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
5820 national
Charter Number
582
Start Date
November 15, 1902
Location
Boston, Massachusetts (42.358, -71.060)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
7b8b9e5a34ea9f21

Response Measures

None

Events (5)
1. November 22, 1864 Chartered
Source
historical_nic
2. November 25, 1898 Voluntary Liquidation
Source
historical_nic
3. November 15, 1902 Other
Newspaper Excerpt
Central National bank of Boston the hands of a receiver: National Shawmut bank will aid depositors
Source
newspapers
4. November 1, 1907* Suspension
Cause
Macro News
Cause Details
Suspension occurred during the nationwide Panic of 1907 and associated banking embargoes and restrictions
Newspaper Excerpt
The Shawmut National bank of Boston ... has resumed payments with practically no restrictions
Source
newspapers
5. December 2, 1907 Reopening
Newspaper Excerpt
The Shawmut National bank of Boston, the largest banking institution on the Atlantic coast outside of New York, has resumed payments with practically no restrictions, and it has written to its correspondents ... asking them to extend credits to patrons to the fullest possible extent.
Source
newspapers

Newspaper Articles (2)
1. November 19, 1902 St. Johnsbury Caledonian Saint Johnsbury, VT
Article from St. Johnsbury Caledonian, November 19, 1902

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Article Text

Colombian officials favor a canal trea -Cholera in the army in the Phili pines in spite of precautionstorney General Knox working on pla for regulation of trusts-Senate CO) mittee on territories begins investig tion in New Mexico-"Lily White in the south alarmed by the president action in Alabama-Hanna will re-elected to the senate, but is 11 likely to manage the next campaignComplications may result from 1 granting of a charter for a nation bank in Porto Rico-Boxer mov ment continues in Sze Chuan-Ame ican marine dies of yellow fever Panama-Good progress on the sea ing dispute at The Hague-Emper William astonishes England by ). prowess as a hunter-An invention France by which alcohol is produc from acetylene-Lancashire associ tion to grow cotton in Jamaica to a VO buying in America-Guatemala's lo of life and property as a result of ve canic eruption said to be very hear -Halifax Chronicle urges stro military force to resist any advance 1 the United States. SATURDAY, NOV. 15. Central National bank of Boston the hands of a receiver: National Sha mut bank will aid depositors-Charl W. Himmerman pleads guilty to char of murdering his wife at Boston; se tenced to imprisonment for life-Co commission begins hearing at Scra ton-General increase of pay amo railroad employes-Report that H. Manley will start a daily paper Augusta, Me-Kansas judge hol that a hypnotist has right to bury i wife alive-Indiana Republica booming Governor Durbin for the vi presidency-Millionaire Edward B ler of Missouri found guilty of : tempted bribery-Jefferson Davis' port on Buena Vista and Monter found in Mississippi archives-01 trolley car makes fastest run on recor part of the distance a mile a minu --New York automobilist sued f $20,000 for frightening horse which sulted in serious injury to two perso -General staff plan for the na urged on Secretary Moody-Vice Go ernor Wright not allowed to bring I Chinese servant east-Cuba likely be slow to grant demands of the Unit States; talk of negotiation with oth countries-Bulgarian cabinet resig -French coal strike virtually end -Volcano Santa Maria still in eru tion-Dady's Cuban agent and $10.0 missing-Great Britain to redu naval establishment at JamaicaAmericans said to have found ri Aztec treasures in Mexico-Chine papers want the British and Germa to leave the country-British medio jourual takes up charges of "squalo at Oxford-King Edward may revi the old custom of having a minister ways at court-Manager of Rhod scholarships says Oxford can ri about British unity-German Tre ies' association urges extension of € isting commercial arrangement. SUNDAY, NOV. 16. Rubino, an anarchist, attempts kill King Leopold at Brussels and barely saved from a mob-Schn tady labor unions plan a strenuo boycott against railway-J. Ogc Armour bearing whole weight of who market-Mayor of West Tampa, I'll kidnapped, flogged and threatened wi death-President Rodrigues Alves Brazil installed with great ceremo -Patrick Lyman, a teamster, kill in collision with an electric car it B ton-Farewell banquet to Amb: sador Cambon by representative Am icans-President Mitchell under lo and sharp fire of cross-examinationVirginia negroes appeal to federal cou against disfranchising iaw-Preside Roosevelt fails to get a shot at a be in a hot chase—Dr. Joseph Swain stalled as president of Swarthmore ( lege-Loss to Guatemalan coff growers from eruption is probably # 000,000-Old home of William Cull Bryant at Roslyn, L. I., destroyed fire-Robert Fulford. actor, sued $100,000 for breach of promise-T Rev. Casimer Zeglen burt at trial his bullet proof cloth at ChicagoBusiness men of country to petiti congress for, a tariff commissionNabraska is to invest $3,000,000 school funds in Massachusetts bor -Pudding-shaped lifeboat holding persons to be tried on Goodwin sar -Stage-struck girls taken into e

2. December 2, 1907 The Guthrie Daily Leader Guthrie, OK
Article from The Guthrie Daily Leader, December 2, 1907

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Article Text

ANNUAL SALE, TEN MILLION BOXES eously. Among the New York banks there was a suspension of payments for eight weeks during the panic of 1857, of six weeks in 1873, and of five weeks in 1893. The embargo has been shorter thus far in 1907 than it was in any of those cataclysms, and it has been far less rigid. The banks are paying out more money now than they did during the closed season in 1893 or the preceding years. Nobody sapposes that the situation at this time is as grave as it was during any of those currency famines. In proportion to the amount of business done there is far more currency in the country now than there was in the former monetary disturbances, and, in proportion to population, the business is greater than it was then. A general bank resumption would immediately improve the situation at all points, As it is to the banks' interest to restore unlimited payments as early as practicable there is a strong incentive for them to meet the public demand in that direction. The Shawmut National bank of Boston, the largest banking institution on the Atlantic coast outside of New York, has resumed payments with practically no restrictions, and it has written to its correspondents throughout the county, numbering more han 750 banks and trust companies, asking them to extend credits to patrons to the fullest possible extent. A like spirit is revealing itself among many other big banks all over the country. As gold is coming in almost as fast as It did in the first half of November, there is & powerful stimulus toward the restoration of confidence. More than $85,000,000 of gold has now been engaged since the beginning of November, and two-thirds of this amount has already arrived. The world never before saw such a stream or gold flowing in any one point in that length of time. There is a possibility that the $100,000,000 mark will be passed before the inflow ceases. It is plain now to the world that we can get all the gold from R rope that we think we need: For many reasons we are masters of the situation. We can get all the gold in Europe that we want because gold can work more profitable here than it can elsewhere: because, we can afford to. pay more for gold than can any of our competitors in Europe: and because, through the exportation of cotton, copper, wheat, corn and many other things which we have, and which Europe must buy, we are establishing credits which will bring gold to us to any needed amount. This commercial and financial ascendancy which we hold among the great nations is bringing us through the crisis with a speed which will surprise the world when, a few weeks hence. a general upward movement among our industries sets in. It is altogether probable that before 1908 is many months old the United States will be in a position to hand back to Europe all the gold which our bankers have purchased there in the present movement. It is likewise probable that before 1908 ends we shall be able to resume our old role of helping Europe out of any financial troubes which may come to it.