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TRUST COMPANIES IN HANDS OF RECEIVERS.

Hampden Trust Company, Springfield.

For reasons stated in the last annual report of the Board, the affairs of this company were placed in the hands of receivers Dec. 21, 1903.

Between that date and Oct. 31, 1904, substantial progress was made by the receivers in the administration of their trust, and during that period four dividends, aggregating 70 per cent. of the claims proved and allowed, have been declared.

The amount of claims proved and allowed was $848,082.08. The following statement shows the receipts and disbursements by the receivers from Dec. 21, 1903, to Oct. 31, 1904 ; also the condition of the trust department at close of business, Oct. 31, 1904 :

Table showing Disposition of the Assets of the Hampden Trust Company from Date of Receivership to Oct. 31, 1904.

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Taunton Safe Deposit and Trust Company.

It became evident to the Board during the latter part of the year 1903 that this company's affairs were in a precarious condition, though it had been doing business less than three years.

Unwise investments, together with a considerable loss of public confidence, and a gradual shrinkage in its deposits, impelled the Board, on Feb. 26, 1904, .to petition the Supreme Judicial Court that a writ of injunction be issued, and one or more receivers appointed to take possession of its properties.

A temporary injunction was immediately granted, in the usual form, and an order of notice issued returnable at Boston Monday, Feb. 29, 1904, to show cause why a receiver should not be appointed.

The officers of the company, realizing further efforts toward a reorganization of its affairs were unlikely to succeed, owing to the unmarketable nature of the larger part of its assets, concurred with the Board in its conclusion, and at the subsequent hearing assented through their attorney to the appointment of a receiver. The court thereupon issued a decree making the injunction permanent, and appointing Frederick S. Hall of Taunton receiver. The receiver assumed charge of the affairs of the company March 22, 1904, and filed with the court a detailed list of the company's assets coming into his possession.

On Dec. 6, 1904, a dividend of 50 per cent. was declared on all claims proved and allowed, which claims amounted on said date to $201,377.63.

The following statement shows the receipts and disbursements of the receiver from March 22 to Oct. 31, 1904:

Table showing Disposition of the Assets of the Taunton Safe Deposit and Trust Company from Date of Receivership to Oct. 31, 1904.

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