Freestone Savings Bank - Portland, CT

Bank Information

Episode Type: Suspension → Reopening
Bank Type: savings bank
Start Date: February 14, 1880
Location: Portland, Connecticut (41.573, -72.641)

Metadata

Model: gpt-5-mini
Short Digest: 11dbd29f

Response Measures

None

Description

Article (Feb 14, 1880) states the Freestone Savings Bank of Portland suspended... for a few months and that the suspension has proven to be advantageous; the bank is paying a 21% dividend as result of earnings for the last five months. No run or failure is mentioned; implies temporary suspension followed by resumption.

Events (2)

1. February 14, 1880 Reopening

Newspaper Excerpt: The suspension of the Freestone Savings Bank of Portland for a few months has proven to be advantageous to the bank and its depositors. A dividend of 21 per cent. will be paid next Tuesday as the result of its earnings for the last five months.
Source: newspapers

2. * Suspension

Cause Details: Article gives no reason for the suspension; only notes it lasted a few months and was ultimately advantageous.
Newspaper Excerpt: The suspension of the Freestone Savings Bank of Portland for a few months has proven to be advantageous to the bank and its depositors.
Source: newspapers

Newspaper Articles (1)

1. February 14, 1880 Morning Journal and Courier New Haven, CT

Article from Morning Journal and Courier, February 14, 1880

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Article Text

State News. Coldest day, February 10th-sixteen degrees below zero in Hartford count&. Filling ice houses is the order of the day now, the ice being on an average ten inches thick. The New York Clothing Store in Norwich was robbed of $75 or $100 worth of clothing Wednesday night. The store recently erected in Killingworth by Heman Merwin, and occupied by him, was destroyed by fire last Wednesday night. The revival spirit has struck Wesleyan in good earnest. Daily prayer meetings have been held for two weeks and not without good results. Mrs. Ursula Humphreyville, of Northfield, of whose great age mention has frequently been made, was 100years old Thursday, February 12. An unsuccessful effort was made last Wednesday night to force the safe in St. John's church, Waterbury, and secure the valuable communion service. Deacon Clark, of ladder fame, has attached the property of the West Meriden Baptist church, in a suit of $700 ostensibly to recover an ex-pastor's salary. This prevented an arranged mortgage of $7,000. The suspension of the Freestone Savings Bank of Portland for a few months has proven to be advantageous to the bank and its depositors. A dividend of 21 per cent. will be paid next Tuesday as the result of its earnings for the last five months. The State Grand Lodge of the Knights of Honor met in annual session at Middletown Wednesday, Gen. Frank D. Sloat presiding. There are 12 lodges in the State, with a total membership of 759, an increase of 245 over last year, and the financial report showed a cash balance on hand of $659. The officers for 1879 were all re-elected. Nelson Merriman, the senior member of the firm of Foster, Merriman & Co., manufacturers of stationery and hardware, and one of the most prominent and wealthy citizens of Meriden, died very suddenly Wednesday