West Boston Savings Bank (Boston, MA)

Episode Information

Episode UID
7348537290913
Episode Type
Run β†’ Suspension β†’ Closure
Bank Type
savings
Bank ID
734853729 hash
Start Date
January 1, 1876*
Location
Boston, Massachusetts (42.358, -71.060)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
364fc07248badb26

Response Measures

None

Description

OCR variants in some articles (e.g., 'West Beston') corrected to West Boston.

Events (7)
1. January 1, 1876* Run
Cause
Bank Specific Adverse Info
Cause Details
Deposits drawn amid depreciation in real estate and shrinkage of securities; weakened surplus
Measures
None specified beyond later suspension by authorities
Newspaper Excerpt
there has been a light run upon its funds for the past three months, which has increased to such an extent lately
Source
newspapers
2. January 11, 1876 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Temporary suspension ordered to await investigation due to impaired capital from real-estate depreciation
Newspaper Excerpt
The stoppage of the West Boston Savings Bank by order of the Supreme Court, to await an investigation of its affairs
Source
newspapers
3. April 2, 1877 Reopening
Newspaper Excerpt
The West Boston Savings Bank, which suspended in January, 1876 ... resumed business today.
Source
newspapers
4. December 27, 1877 Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy drafts on deposits driven by continued depression and depreciation in real estate assets
Measures
Trustees availed themselves of by-law requiring notice from depositors; limited payments (notice requirement)
Newspaper Excerpt
During the present month there has been quite a run on the bank, payments to depositors amounting to nearly $100,000.
Source
newspapers
5. December 27, 1877 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Forced closure due to heavy drain on deposits and impaired capital from depreciated real estate
Newspaper Excerpt
was forced to close its doors again to-day ... it will probably be wound up and the assets divided among depositors.
Source
newspapers
6. January 9, 1878 Other
Newspaper Excerpt
The injunction on the West Boston Savings Bank was to-day made perpetual. A receiver will be appointed today. (receiver appointed about this time.)
Source
newspapers
7. November 23, 1881 Receivership
Newspaper Excerpt
The receivers of the West Boston Savings Bank, which failed in 1877, presented their final account to-day. The depositors will receive in all, 85 per cent of their deposits.
Source
newspapers

Newspaper Articles (22)
1. January 12, 1876 New-York Tribune New York, NY
Article from New-York Tribune, January 12, 1876

Click image to open full size in new tab

Article Text

A BOSTON SAVINGS BANK CLOSED. [BY TELEGRAPH TO THE TRIBUNE. I BOSTON, Jan. 11.-The stoppage of the West Beston Savings Bank by order of the Supreme Court, to await an investigation of its affairs, was announced yesterday. It appears that there has been a light run upon its funds for the past three months, which has increased to each an extent lately that in the interest of the depositors a temporary suspension was decided upon by the Bank Commissioner and the trustees as the best thing to be done under the circumstances. It is the old story-a general depreciation of value in its real estate and other securities, with no sufficient surplus on hand to cover the shrinkage. In the days of its prosperity, its earning were paid out in dividends, with nothing or not enough saved to meet the mischances which are always likely to overtake any business. To the credit of its managers it 18 to be said that the bank has been economically managed, and that nothing fraudulent or dishonest is suspected. The bank has $3,250,000 of deposits, $2,000,000 loaned on real estate, $300,000 on personal security. and $700,000 on bank stock.

2. January 13, 1876 The Sun New York, NY
Article from The Sun, January 13, 1876

Click image to open full size in new tab

Article Text

A Run on a Boston Savings Bank. BOSTON, Jan. 12.-The feeling among some holder of bank books, caused by the suspension of the West Boston Savings Bank, caused another call on the Home Savings Bank to-day, though by no means to the extent of the former one. At 11 o'clock there were perhaps one hundred and fifty persons in the banking room ID Masonic Temple, waiting their turn to draw. Some few were making deposits. The Board of Trustees held a meeting this morning, and resolved that until further notice no pay ment of more than $50 per month shall be made to any depositor except in the mode required by the laws of the bank.

3. January 13, 1876 The New York Herald New York, NY
Article from The New York Herald, January 13, 1876

Click image to open full size in new tab

Article Text

The Michigan Central Railroad Company report its earnings and expenses for the month of November, 1875, as follows:$587,269 Gross earnings 393,661 Operating expenses 67 2-10 per cent $193,598 Net earnings The gross earnings for same time in 1874 (operating expenses not reported) having been $654,206 there is a decrease in gross earnings of $66,937. The foregoing is a curious commentary upon the recent report of a competing road, wherein it was claimed that the operating expenses of the last three months had been reduced to 61 8-10 per cent of gross earnings against over 76 per cent for the previous nine months. The failure of the West Boston Savings Bank has caused some anxiety among depositors in other Boston savings banks, as indicated by a slight run to-day upon the Home Savings Bank. The Board of Trustees of the latter institution held a meeting this morning and resolved that until further notice no payment of more than $50 per month shall be made to any depositor, except in the mode required by the laws of the bank. An elderly gentleman of moderate means visited the Stock Exchange to-day in search of the "broker" who a few weeks since promised him a "brown stone front if he would lay in a little Union Pacific and Pacific Mail" at 79 and 41 respectively. The gentleman expressed himself as anxious to learn the optnion of that "broker" as to the future prices of Lake Shore and Northwest stocks. The rumor that the Governor of Wisconsin in his Message to the Legislature would recommend the repeal of the "Potterlaw" was to-day industriously circulated among the habituΓ©s of the Stock Exchange. As the Message will probably be delivered to-morrow (Thursday). the truth or falsity of the rumor will soon be known. Another rumor was in circulation to the effect that the coal companies of Pennsylvania have not yet been able to come to an agreement for the continuance of the combination which has maintained the price of coal for the past three years. Messrs. Mitchell, Green & Stevens, dry goods, of Bos. ton, are reported failed. Messrs. Easton & Milne, bankers, of Fall River, who suspended last week, have been advised by a creditors' committee to go into voluntary bankruptcy. It is thought that the unsecured creditors will realize only 15 to 20 per cent. The Commissioners of the District of Columbia ask the House to appropriate $242,779 currency, in addision to the $40,000 on hand for the payment of the February interest on the 3.65 bonds, to avert a default in the payment of interest. They propose a bill transferring the management of the bonded debt of the District to the Treasury Department. The Committee of Ways and Means have decided not to consider the financial question until the subject shall be more fully presented. Bills are already before them touching the resumption of specie payment, &c., and more are expected.

4. January 14, 1876 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, January 14, 1876

Click image to open full size in new tab

Article Text

Increase of Movement of Curroncy to the Country. Business at the Banks Quieter--New York Exchange Weak. The Produce Markets Irregular---Provisions Easter---Large Receipts of Hogs. Wheat Exoited and Nervous, with Cash Lots at & Premium-Corn Dull. FINANCIAL. The amount of new business done by the banks was very light. The principal local borrowers now are the provision-men and packers. The other parties ou the Board of Trade have little need for bank accommodaBlone, The effect of the weather is already seen in the Increase of country orders for currency, Lut it has not had any other perceptible effect on local finances. There is a freer movement of country products to planket, but this has not yet assumed suilicient proportions to euable the country banks to repay the loats they have had of the city. This keepe the funds of the loan market more fully employed than would otherwise be the care in the quiet which marks all the city interests. Most of the city banks have ample resources for the accommodation of all the decirable borrowers that apply. Rates of discount at the tanks are 8@10 per cent. On the strent business shows some improvelment. Rates are 8@13 per cent. Now York exchange continues work. Sales were made between tanks at 50c premium for $1,000. There were mura orders from the country for currency, but their total was not very large. The clearings were $1,000,000. BAVINGS-BANK ITEMER The failure of the West Boston Sivings Bank is the largest that has occurred in the recent aerica of NAVinga-bank failures. In the report of the Margachumetia Savings-Bank Commissioner for 1374 11, deposits were stated at 93,166,843.13. There has been for some time lack a run, though not. a severe one, upon the bank, and it lian nually placed its affrira in the hands of the courts. No dis. honesty la known to have existed in its management. Its loss un real cash wete theu $2,072,752.04 on Lauk stock, $302,007.15. and on personal security, $431,103. The depreciation in the real catato ou whice the bank and to heavily WAH the main cause of its It La n serious defect of the Margachuactts ur. to which Gov. Clailin calle.I attention, that 11 comp the bather to loan so heavily on real catale. The is, that the more the State meddles with the savings banks the worse off will depositors be. The thing preved to be done is to obtain publicity of managencia and baluenate machinery to punish frauda, Let depositors 100% after their own Interests; creist them only to the extent of reding that they are able at all times is Luvertala what is beling done with their money, and If It in iss: or wasted make 1: prima facio evidence of fruu.i. 11 it cause be allowa tunt any col. realment was plactical, Tho returns from the savings banks of ManachuBELLS for last year show that two Isan Lean is hands other gain in the deposits, and that a smaller amount lian been drawn out than in either of the LYO previous years. The following L the exhibit: Total Deposits for Withdraw-

5. January 17, 1876 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, January 17, 1876

Click image to open full size in new tab

Article Text

Much scandal has arison in Boston in con. neotion with the recent suspension of the West Boston Savings Bank, growing out of tho fact that the President of the Bank, FRANKLIN HAVEN, was meroly a figure-hend, having consented to lend his name to inspire confidence. Mr. HAVEN had no moneyo.l interest in the bank, and, when it failed, knew no more of its condition than a man in Green. land. Notwithstanding this fact, the moral sense of the community will hold Mr. HAVEN responsible. He lent the use of his name to inspire confidence. The depositors put their money in the bank upon the strength of his indorsement. They did not know he had lont his name. They did not know he was igno. rant of the condition of the bank. They did not know but that he was the actual manager of the bank, and, judging from his success in business and his high standing in tho businesa community, concluded that the affairs of the bank were safo in his hands. The Inw cannot hold Mr. HAVEN responsible, but morally the community will hold him guilty of crime, and as responsible for the losses as if he had given a note for the three millions which have been lost by the confidence ho inspired.

6. April 3, 1877 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, April 3, 1877

Click image to open full size in new tab

Article Text

Reseued From a Wreck. BOSTON, April 2.-The schooner Addie Todd, which arrived to-day from Surinam, reports that on the 25th ult. she fell in with the wrecked brig Roanoke, from Philadelphia for Port Cabello, and took off Wm. Maguire, a seaman, who had been on the wreck nine days. All others of the crew, eight in number, and three passengers, Mr. and Mrs. Dallett, of New York, and a Spanish gentleman, were washed overboard and drowned. THESURVIVOR'SSTORY. BOSTON, April 2.-When one day out from the Delaware breakwater, a fear. ful storm set in, during which the vessel became unmanageable. The fore and main mast were cut away and the hold was almost filled with water. The sole survivor tells the following: The Cap. tain wished to take to the boats, but was persuaded not to do it. In the afternoon Mr. and Mrs. Dallett shook hands with the Captain and Mate, bade them good bye, and expreesed the hope that they would all meet in Heaven. Mr. Dallett took his wife's water-proof and wrapped it around her head. They embraced each other and a sea soon swept them overboard and they were drowned. The Spanish gentleman shortly followed. He said his prayers, wrapped a quilt around his head and leaped overboad in a delirious state, and soon after this the sea carried away the after deck; the Captain, Steward, one sailor and a boy were on it and drifted away with it, and they were seen no more. The stern broke away and went next with the mate and second mate. The mate was drowned, and the second mate was on a piece of the stern when last seen. Only two men were then left with me and they after wards became compelled from thirst to jump overboard and were drowned." PHILADELPHIA, April 2.-Mr. and Mrs. Dallett, lost on the Roanoke, are not residents of New York, but reside and are well known here, Mr. Dallett being senior partner of the firm of S. & T.H. Dallett, soap manufacturers. RESUMED BUSINESS. The West Boston Savings Bank, which suspended in January, 1876, on account of impaired capital, resumed business today.

7. April 3, 1877 The Daily Gazette Wilmington, DE
Article from The Daily Gazette, April 3, 1877

Click image to open full size in new tab

Article Text

General News. The West Boston Savings Bank, which suspended in January, 1876, on account of the impairment of its capital. resumed business yesterday. The State of New Jersey has $50,000 and the county of Middlesex $16,000 on deposit in the State Bank of New Brunswick, which closed on Saturday: Application has been made to the Chancellor for the appointment of a receiver. Out of four hundred engineers in the employment of the Reading Railroad Company only about a dozen have so far decided to quit work on account of the rule of the company requiring them to cut loose from the Brotherhood of Locomotive Engineers. The President, speaking of many invitations to spend the summer at Long Branch, says he shall remain in Washington most of the summer, but if the heat becomes insufferable he and his wife will go to their old home in Fremont, Ohio, with the children. New York enjoyed two musical marvels last night. The telophone was successfully tested at Steinway Hall, when music played at Philadelphia was distinctly heard, and Die Walkure the first of the Wagnerian trilogy, was brought out at the Academy of Music. In the County Court at Pottsville, Pa., yesterday, Neil Doughert and John Campbell, for complicity in the Langdon murder, at Audenreid, in 1862, were sentenced to solitary confinement in the penitentary for five and nine years respectively, James Laughlin, James Lehman and Micheal Colgan, for particip a tion in the Boskill murder, at Locustdale, were each sentenced to six years' solitary confinement. All the prisoners except Colgan were members of the Molly Maguire organization. A party of hunters in western Kansas was surprised by a band of Sioux some mornings ago, before, daylight, and fifteen of the hunters were killed. The hunting party had camped for the night without posting sentinels. and when the attack was made they rushed from their tents and most of the fifteen fell in the first volley from the Indians. The hunt ers rallied and made a desperate charge, e scattering the India ns and forced them to retire. Several Indians were killed, but were carried off.

8. April 3, 1877 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, April 3, 1877

Click image to open full size in new tab

Article Text

FINANCIAL. NEW BRUNSWICK, N. J., April 2.-Application was made by the State of Now Jorsey on Saturday for the appointment of a Receiver in the affairs of the State Bank, which closed its doors on that day. The writ was issued this morning, and made returnable to-morrow at 11 o'clock n. m. The State had $55,000 on deposit In the bank, and the County of Middlesex $10,000. BOSTON, April 2.-The West Boston Savings Bank, which suspended business in January 1570, on account of impaired capital, resumed business to-day.

9. December 28, 1877 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, December 28, 1877

Click image to open full size in new tab

Article Text

f Savings Banks News. PETERSON, N.J., December 27.-There I was a very slight run on both Savings Banks today. All the depositors paid promptly. 1 NEW YORK, December 27.-A receiver was today appointed for the People's Savings Bank. Liabilities $200,000; assets $157,000. BOSTON, December 27. - An official statement of 179 Savings Banks, in Massa. chusetts, for 1877, shown an aggregate of deposits of $244,596,614 against $243,340,642 of the previous year. CONDITION OF THE BOSS BANK. LONDON, December 27.-The bullion in the Bank of England decreased Β£60,000 in the past week. The proportion of the reserve to the liability is 461 per cent. The bullion gone into the bank on balance to-day is Β£65,000. The specie in the Bank of France decreased 6,700,000 francs in the past week. The weekly statement of the Imperial Bank of Germany shows a decrease in specie of 11,800,000 marks. A BOSTON SAVINGS BANK WEAKENING BOSTON, December 27.-The officers of the West Boston Savings Bank have availed themselves of the provision of the law requiring notice from depositors of the intended withdrawals. The ultimate solvency of the concern depends on the realizations from real estate, which has greatly depreciated in value.

10. December 28, 1877 The Wheeling Daily Register Wheeling, WV
Article from The Wheeling Daily Register, December 28, 1877

Click image to open full size in new tab

Article Text

Savings Banks Troubles. NEW YORK, December 27.-A receiver W&8 to-day appointed for the Peoples' Savings Bank; liabilities $200,000, assets $157,000. BOSTON, Dec. 27.-The - officers of the West Boston Savings Bank availed themselves of the provisions and by-laws, requiring notice from the depositors of intended withdrawal. The ultimate solvency depends on the realization from real estate, which greatly depreciated in value. PATERSON, N. J., December 27.There was is slight run on both the BAVings banks to-day. All the depositors were paid promptly.

11. December 28, 1877 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, December 28, 1877

Click image to open full size in new tab

Article Text

MASSACHUSETTS. Trouble in the West Boston Savings Bank BOSTON, Dac. 27.-Owing to the continued depression in business, the depreciation in real estate which constitues a large portion of the assets of the West Boston Savings Bank, and the heavy drafts upon deposits, the officers avail themselves of the provision in the by-laws requiring a notice from depositors of intended withdrawals. During the present month there has been quite a run on the bank, payments to depositors amounting to nearly $100,000. The ultimate solvency of this bank depends upon the value of real estate owned by the bank, which amounts to $462,000, and mortgages of $1,072,000. The nominal surpius as shown by the books is over $116,000. The Lawrence Murder. LAWRENCE, Dec. 27.-Hannah Jane Slade, under arrest for shooting Doran Christmas day, admits her crime and says they had been drinkiug, and while her husband was at the barn Doran attempted te outrage her. She broke away from him and seizing the gun which was standing beside the wall, pointed it at him not thinking it was loaded, when it was discharged killing him instantly. An inquest was held this afternoon on the death of Michael Doran, the victim of the murder Christmas day. At the conclusion George and Hannah Jane Slade were arraigned for murder in the Justices' Court. Each pleaded not guilty. A Mad Dog. NEWBURYPORT, Dec. 27.-There has been a great excitement in Newbury and West Newbury today, caused by a mad dog. Two children were bitten in Newbury, and W. P. Bailey, a stage driver at West Newbury, was badly bitten in the hand. The dog WBS killed, but not before other dogs were bitten.

12. December 28, 1877 New-York Tribune New York, NY
Article from New-York Tribune, December 28, 1877

Click image to open full size in new tab

Article Text

MASSACHUSETTS SAVINGS BANKS. INCREASED AMOUNT OF DEPOSITS-THE WEST BOSTON SAVINGS BANK IN TROUBLE. BOSTON, Dec. 27.-An official statement of 179 savings banks in Massachusetts for 1877 shows deposits aggregating $244,596,614 18, against $243,340,642 75 for the previous year. Owing to continued depression in business. depreciation in real estate. which constitutes a large portion of the assets of the West Boston Savings Bank, and heavy drafts upon deposits, the officers of that institution avail themselves of a provision in the by-laws requiring notice from depositors of intended withdrawals. The present prospect is that the concèrn will be wound up and its assets divided among the depositors. The bank resumed business last April, after suspension of a year or more. Starting with deposits amounting to $3,240,000 up to the first of October, $1,100,000 were paid out. From October to December $300,000 more were drawn, $100,000 since that time, with indications of larger drafts to come. The trustees believe, in spite of the unprecedented depreciation in real estate, of which the bank owns $462,000, and has $1,072,000 on mortgages, that with care and good management depositors may expect to receive full payments. The assets are $1,938,081, and the bank has on deposit $1,822,015. The book shows a surplus of over $116,000, to which is to be added $24,000 accumulated earnings not paid in.

13. December 28, 1877 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, December 28, 1877

Click image to open full size in new tab

Article Text

SAVINGS BANK TROUBLE. Ruu On the West oston Savings Bank. BOSTON, December 27. Owing to the continued depression in business and pepreciation in real estate which constitutes a large portion of the assets of West Boston Savings Bank, and the heavy draits upon deposits, the officers avail them. selves of the provisions in the by-law requiring Lotice from depositors of intended withdrawals. During the present month there has been quite a run on the bank and payments to depositors will amount to nearly $100,000. Ultimate solvency of the bank depends on the value of real estate own ed by the bank, which amounts to $462,000 and mortgages of fil,072,000. A nominal surplus as shown by the banks is over $116,000.

14. December 28, 1877 New-York Tribune New York, NY
Article from New-York Tribune, December 28, 1877

Click image to open full size in new tab

Article Text

THE NEWS THIS MORNING. FOREIGN.-The Russians have captured a Turkish The Montenegrins have inflicted transport. The Servians another defeat on the Turks. The have been repulsed at Novi Bazar. British fleet has left Besika Bay for the Gulf of Vourla, near Smyrna. Domestic.-The steamer Huron was seen for an hour after she struck by a man who simply watched The letter of W. her without giving the alarm. E. Chandler 18 regarded at Washington as the beginning of hostilities against the President. The Bland bill will not secure a double standard, as honest bimetallists' desire for it would expel There is more evidence that gold. the Indians of the West are making The West Boston progress in civilization. A receiver has Savings Bank is in trouble. been appointed for the Delaware and North Shore Railroad. Colonel Wm. Randolph Berkeley was shot at Farmville, Va., by Captain Wm. H. The Kennedy, who afterward shot himself. Tennessee Legislature will adjouru to-day, having reached no settlement of the State debt. CITY AND SUBURBAN.-The coal companies failed to agree to a schedule. yesterday. Netter & Co.'s liabilities are now estimated at $300,000. Attorney-General Fairchild began an examination of Erie accounts. Excise Commissioner Owen Murphy is in Canada: it is claimed by a friend that he will soon return. John Jay declined to allow the use of his name for reΓ«lection as president of the Union League Club. The Fire Marshal began his investigation of the Barclay-st. fire. The Passaic County Savings Bank will pay its depositors in full and close. Charles E. Johnson, who attempted to murder his wife, was held for examination yesIndependent Republican primaries terday. were held. Gold 1027g, 1025, 1025. Gold value of the legal-tender dollar at the close, 97410 cents. Stocks dull and generally steady, closing irregular. THE WEATHER.-TRIBUNE local observations indicate cooler and partly cloudy weather. Thermometer yesterday, 39Β°, 47Β°, 43Β°.

15. December 28, 1877 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, December 28, 1877

Click image to open full size in new tab

Article Text

MASSACHUSETTS. Special Disputch in The Chicago Tribune. BOSTON, Dec. 27.-The West Boston Savings Bank. which resumed business last April, after a suspension of over a year, was forced to close its doors again to-day, owing to the continued depression in business, the depreciation in real estate, which constitutes a large portion of the assets, and a heavy drain upon the deposits. The Trustees believe that with care and good management the depositors may expect to recuter full payment, but there seems to be no need of the bank any longer, and It will probably be wound up and the assets divided among depositors. During the present mouth there has been quite a run on the bank. Payments to depositors slace the 1st of December have amounted to nearly $100,000. The ultimate solvency of the bank depends on the value of the real estate owned by it, which amounts to $402,000, and mortgages of 81,072,000. The nominal surplus, as shown by the books, 1s over $110,000, to which is to be added $26,000 accumulated carnfugs not paid in. To the Western Associated Press. DOSTON, Dec. 27.-Official statements of 170 savings banks in Massachusetts, for 1877, show aggregate depositsof $344,596,014, against $243,340,613 the previous year. INDIANAPOLIS. Special Disputch to The Chicago Tribune. INDIANAPOLIS, Ind., Dec. 27.-The report of J. J. Bingham, Special Commissioner to examIne the savings banks of this city, was submitted the Auditor of State to-day. He found them in good condition, and an effort is*making to consolidate the two under one management. SPRINGFIELD, ILL. SPRINGFIELD. III., Dec. 27.-The announcement of the failure of Sims & Co., grain-deala era of this city, this morning, produced quite sensation in business circles. PATERSON, N. J. PATERSON, N. J., Dec. 37.-There was a very slight run on both savings banks to-day, all dopositors being paid promptly. SOUTHERN INDEBTEDNESS. MONTGOMERY, Ala., Dec. 27.-Gov. Houston bas forwarded to New York City the money to pay the interest on the State bonds due Jan. 1. The Mayor of this city has also forwarded the money to meet the interest, Jan. 1, on the city bonds Issued under the late adjustment of the city debt. Ivory In coral set, When 'twixt parties' lips you see, BOZODONT, 'Lis safe to bef, Beautifies the ivory. BUSINESS NOTICES. Use 48 Mrs. Winstow's Hoothing Syrup' for children while teething. It cures dysentery and diarrbora, wind colic, and regulates the bowels. CHILDREN'S CLOAKS.

16. December 29, 1877 Lyon County Times Yerington, Silver City, Dayton, NV
Article from Lyon County Times, December 29, 1877

Click image to open full size in new tab

Article Text

on the basis of Schurz leaving the Cabinet is assured. Secretary Schurz denies that he intends to resign. He may be removed, but he never expects to resign. At Central City, Colorado, Wednesday morning the residence of Thos. Terrill was burned and four of its inmates perished in the flames. By the burning of 14 dwelling at Roundout, New York, Tuesday night three persons lost their lives, The prominent stock-broking firm of Netter & Co. of New York city has failed. Liabilities, $3,000,000. The bodies of the drowned from the wrecked Huron were robbed by the people who first found them. All valuables were taken by the heartless thieves. In Farmville, Virginia, Thursday, Captain William H. Kennedy shot and killed Colonel William H. Randolph and then shot himself through the head. No cause is assigned for the killing. The ΠΈ heat crop of the United States for 1877 was about 360,000,000 bushels, or about $50,000,000 greater than for any previous year. The extra session of the Tennessee Legislature adjourned yesterday, having reached no result in settlement of the State debt. The People's Savings Bank of New York has failed. The West Boston Savings Bank is in a shaky condition. William E. Chandler, a near relative of Zach., is one of the disaffected, and goes SO far as to say that Hayes was not elected. A rebellion recently broke out in Punta Arenas, New Granada, which the Governor was at first unable to quell, The insurgents murdered the captain of the garrison, robbed all the mercantile houses and set fire to the town. Forty persons were killed. A Russian man-of-war has captured a Turkish transport steamer in the Black Sea with 700 troops on board. A terrible state of things prevailed in Plevna at the time of Osman Pasha's surrender. The Turkisu hospitals presented a sickening sight. Thousands of dogs and carrion birds were feasting upon the dead and helpless wounded. Osman Pasha's name is blackened by his treatment of the Russian wounded that fell into his hands. All the Russian prisoners were butchered by the troops under Osman's command. Owing to the snow and severe weather the Turkish prisoners cap iured at Plevna are dying of cold and it is impossible to afford them any relief. Austria decidedly protests against Servia extending her action, either

17. December 29, 1877 The New York Herald New York, NY
Article from The New York Herald, December 29, 1877

Click image to open full size in new tab

Article Text

WEST BOSTON SAVINGS BANK. BOSTON, Dec. 23, 1877. At a meeting of the trustees of the West Boston Savings Bank this afternoon it was voted that the bank be closed up in the most economical manner. A temporary injunetion will be served on the officers of the bank to: morrow and time assigned for a hearing.

18. January 3, 1878 The Stark County Democrat Canton, OH
Article from The Stark County Democrat, January 3, 1878

Click image to open full size in new tab

Article Text

LATE NEWS: Chacago, Dec. 27.-Charles M. Jaques, builder,filed a voluntary petition in bankruptcy to-day. Secured liabilities, $91,000; unsecured, $10,000; small assets. Boston, Dec. 27.-The official statement of 179 banks in Massachusetts for 1877 shows aggregate deposits, of $244,596,614, against $243,340,642 the previous year. New York, Dec. 27.-A receiver was appointed to-day for the People's Savings Bank. Liabilities $100,000; assets $157,000. Toronto, Dec. 27.-About - 100 unemployed laborers waited on the Mayor to-day and stated that they must have work or they and their families would starve. The majority of them will be set 'to work breaking stones tomorrow. Boston, Eec. 27.-The officers of the West Boston Savings Bank availed themselves of the provision in their by-laws requiring notice from depositors of intended withdrawal. Theultimate solvency of the bank depends upon the realizations from real estate, which has greatly depreciated in value. The losses by the Netter failure iu New York aggregate nearly $300,000 but will be settled by Cincinnati friends and relatives of the firm. Col. William Randolph Berkely, a prominent member of the Virginia bar, was assassinated in his office at Farmville, in that State, yesterday, by Capt. William H. Kennedy, who then shot im self. At Bloomington, Ills., early yesterday morning, James O'Neal, a well-known engineer on the Chicago & Alton railroad, was assassinated by some unknown person as he was going to his home from his engine. Nyack, N. Y., Dec. 28.-The Rockland County National Bank has suspended. Washington, Dec. 28.-The President to-day signed a full pardon for Frank Sbinkle, convicted in November last of forgery. A mass meeting of cigar makers on a strike and their sympathizers was beld last week in Cooper Institute, New York. Over four thousand persons were present. Speeches denouncing the manufacturers were made in English, Bohemian and German. Resolutions were adopted, setting forth that a struggle would be kept up until living wages were given and the Union recognized, denouncing the tenement house system as an invention to renew chattel slavery and as opposed to civilization, the spirit of the age and a free country.

19. January 4, 1878 The Emporia News Emporia, KS
Article from The Emporia News, January 4, 1878

Click image to open full size in new tab

Article Text

SUSPENDED.-Dec. 26th, the banking firm of Netter & Co., New York, with heavy liabilities, also the Passaic county Savings bank, Patterson, New Jersey. On the 28th West Bosten Savings bank. Also the People's Savings bank, N. Y., with deposits of $200,000. On the 28th the Real Estate savings bank of St. Louis, suspended. Liabilities $247,000 Also the Derry savings bank, Manchester, New Hampshire. Also the Jersey City savings bank, N.J. Also, December 29th, Brooks' bank, Lawville, N. H. Dec. 31st a run began on the Rochester, N. Y., savinge bank, but it stood. Bonner & Co's. banking house, New York, suspended. Also, the Bankers' and Brokers' association. Also, J. F. Jackson, broker. Bonner owes some $500,000. He lent money to parties on cash collaterals, such as bonds, and then sold the bonds, or borrowed larger amounts on them than he had lent. andin this way did an immense business, at other people's expens e. Bonner is a genuine "financeir."

20. January 9, 1878 The Cincinnati Daily Star Cincinnati, OH
Article from The Cincinnati Daily Star, January 9, 1878

Click image to open full size in new tab

Article Text

THE BAY STATE. National Associated Press to the Star. NOT TO BE DELIVERED UP. BOSTON, Jan. 9.-Some months ago a requisition was received from the authorities of the State of Louisiana, for the removal to that State of Col. Fred. G. Pope, of this city. The requisition alleged that while that State was under control of the United States troops Col. Pope, acting as assistant to Col. Splokering, who was Provost Marshal of the Opelousas District of Lousiana, was in collusion with rebels to defraud the United States, Colonel Pope seizing some cotton, which proved to be the property of one August P. Nohlong, a native 01 Belgium, settled at that place. The United States Court has deolded that Col. Pope should not be delivered up. PENALTY REMITTED. The city authorities waye remitted the penalty imposed on Edward Haulon. the Toronto oareman, which was that be be forever debarred from participation in regattas held under the auspices of the City 01 Boston. The penalty was remitted on account of Hauton's representations that he was unjustly dealt with at the time, on the occasion of the regatta, last Fourth ot July. PERPETUAL INJUNCTION. The injunction on the West Boston Savings Bank was to-day made perpelual. A receiver will be appointed today.

21. January 17, 1878 The Centre Reporter Centre Hall, PA
Article from The Centre Reporter, January 17, 1878

Click image to open full size in new tab

Article Text

NEWS SUMMARY. Eastern and Middle States The Rockland County National Bank of Nyack, N. Y., has suspended payment. The body of Herzberger, the engineer in the New York candy factory, where the recent terrible explosion took place, has been recovored from the ruins. By an explosion in a mine near Wilkesbarre, Pa., seven persons were injured, one mortally. Seventy-five thousand tons of Seranton coal were sold in New York at an advance on previous prices. The trustees of the West Boston Savings Bank voted to close up the institution in the most economical manner possible. After a trial of several days Mayor Ely withdrew the charge of inefficient and capricious enforcement of the laws, made against the police commissioners of New York. George M. Brooks' bank of Lowville, N. Y., has suspended payments, the liabilities being placed at $60,000. At a dinner given to General Banks in Boston Hon. Benjamin F. Butler made a speech, denonuciatory of the President for not upholding Packard and Kellogg in Louisiana. Five buildings were burned in Jamaica, Long Island, and a loss incurred of $12,000; and in Westerly, R. I., several houses were destroyed by fire, the damage being estimated at $80,000. At Boston, Mass., the arrest of George B. Bigelow, a well-known lawyer, took place on the charge of having misappropriated the sum $40,000, which was held in trust by him. The New York Legislature met in Albany and organized, James W. Husted (Republican) being elected speaker of the assembly. John Bonner & Co., well-known stock brokers of New York city, failed. The amount involved by their failure is about $1,000,000, and upon the heels of the financial fall of the firm came the suspension of the New York Bankers' and Brokers' Association, of which Mr. Bonner was president, and all of whose available resources be had utilized. Many bankers and brokers had left securities in the hands of the firm as collateral for loans, and these securities could not be found, as Bonner had fled from the city just before fhe crash. Three more bodies have been recovered from the ruins of the New York candy manufactory. The Pennsylvania Legislature met at Harrisburgh and organized. One hundred failures and assignments were reported in New York in December, the aggregate liabilities of which were nearly $8,000,000. Miss Lizzie Davis, aged nineteen was stabbed and instantly killed in her home in Ferndale, Pa., by John Haddock, aged twenty-one, who then proceeded to his house, & few doors off, and shot himself through the heart. Jealousy is believed to have led to the double tragedy. Thomas 8. Lambert, ex-president of the American Popular Life Insurance Company, of New York, recently found guilty of perjury in swearing to false statements of the company's condition, was sentenced to five years' imprisonment at hard labor in the State prison. A fire at Salem, N. J., destroyed a number of buildings in the business part of the place, doing damage to the extent of about $40,000. Two excise bills and & New York city charter amendment have been introduced in the New York Legislature. At a meeting of the directors of the Bull's Head Bank, of New York, it was resolved to wind up the affairs of the institution. Governor Conner was inaugurated at Augusta, Me., and Governor Rice at Boston, Mass. Four of the former managers of the Charter Oak Life Insurance Company, of Hartford, Conn., have been indicted for conspiring to defraud the policy holders, as alleged in the complaint. The Woburn Five Cent Savings Bank, of Woburn, Mass., has been enjoined from doing futher business : and the Rollinsford Savings Bank, of Salmon Falls, N. H., has given notice that it will pay up depositors as fast as possible and retire from business. A fire in Harrisburg, Pa., destroyed the malt house of B. M. Greider & Co., causing a loss of $70,000, on which there is $55,300 insurance and A fire in Franklin, Pa., burned down Bailey's block, causing a loss estimated at $30, 000, on which there is & partial insurance. Several vessels were wrecked and many lives were lost by a severe storm of wind and snow along the Atlantic coast in the vicinity of Cape

22. November 24, 1881 New-York Tribune New York, NY
Article from New-York Tribune, November 24, 1881

Click image to open full size in new tab

Article Text

WOUND UP AT LAST. BOSTON, Nov. 23.-The receivers of the West Boston Savings Bank, which failed in 1877, presented their final account to-day. The depositors will receive in all, 85 per cent of their deposits.