Pittsfield Trust Company (Pittsfield, ME)

Episode Information

Episode Type
Suspension → Closure
Start Date
May 28, 1913
Location
Pittsfield, Maine (44.783, -69.383)
Bank Type
trust
Routing Number
52-0152

Metadata

Episode ID
Bank ID
City ID
230573464
Model
gpt-5-mini
Short Digest

Notes

Closed by court injunction and placed in hands of a receiver; later dividends paid by receiver.

Events (4)
1. May 28, 1913 Suspension
Cause
Government Action
Cause Details
Temporary injunction by Supreme Judicial Court at petition of State bank commissioner restraining company from doing business.
Newspaper Excerpt
Associate Justice Spear ... granted a temporary injunction restraining the Pittsfield Trust Co. from transacting business.
Source
newspapers
2. May 29, 1913 Receivership
Newspaper Excerpt
William L. Pushor of Pittsfield, the treasurer of the Pittsfield Trust Co., was, Wednesday, named as receiver of that institution.
Source
newspapers
3. December 25, 1914 Other
Newspaper Excerpt
The Pittsfield Trust Co., which suspended business several months ago, is paying this week 20 per cent. on the deposits in the savings department.
Source
newspapers
4. June 10, 1916 Other
Newspaper Excerpt
Ordered ... that said William L. Pushor, receiver, pay to each depositor in the savings department ... a sum equal to 10 per cent. of the amount of his deposits ... (petition of receiver for leave to declare dividends).
Source
newspapers

Newspaper Articles (12)
1. May 28, 1913 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, May 28, 1913

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Article Text

Pittsfield Trust Co. Will Go Into Receiver's Hands Shortly. A hearing on a bill in equity ask- much will be derived from loans made sometime ago. The bank maintains ing for a temporary injunction branches at Jonesport and Corinna. against the Pittsfield Trust Co., reCommissioner Dunton stated after straining it from doing business and the hearing that he had every hope asking for the appointment of a reto believe that there would be no loss ceiver was held, Tuesday afternoon, to the depositors. before Associate Justice Albert M. Justice Spear granted a temporary Spear. The proceedings were instiinjunction and he will shortly name tuted by Hon. Robert F. Dunton of the receiver. Belfast, State bank commissioner, The Pittsfield Trust Co's. officers while Joseph Williamson, Esq., of the are: President, James M. Chalmers: firm of Williamson, Burleigh & Mcvice president, Charles E. Vickery; Lean appeared for the Trust Co. treasurer and secretary, William L. The evidence brought the fact that Pushor. the liabilities of the institution are The company is listed as having approximately $500,000, including its capital stock. It is uncertain how $50,000 capital, with a surplus of $7000.

2. May 28, 1913 The Barre Daily Times Barre, VT
Article from The Barre Daily Times, May 28, 1913

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Article Text

CLOSED BY INJUNCTION. Maine Bank Is Restrained From Doing Business. Augusta, Me., May 28.-Associate Justice Spear of the supreme judicial court yesterday granted a temporary injunetion restraining the Pittsfield Trust Co., which maintains branches at Corinna and Jonesport from transacting business. A receiver will be appointed in a few days. The liabilities are given as $500,000, including the capital stock. The assets are dependent on the value of old loans, State Bank Commissioner Dunton believes depositors will suffer no loss,

3. May 29, 1913 The Republican Journal Belfast, ME
Article from The Republican Journal, May 29, 1913

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Article Text

Contents of Today's Journal. Memorial Observances in Belfast BEEL News of the Granges The Churches. Rev. and Mrs. A. A. Obituary Smith Williamson's History of BelBaseEastern Veterans. The fast ball League Personal. The Sautelle 9 Big Shows. HE2, Court The Flood Washington in Dayton, Whisperings Ohio Probate The News of Brooks. Annals Belfast (continued) Cen3. Maine Knights of Montville ter Penobscot Bay Bethel MisPythias sion Belgian Dogs Literary News and Notes. SearsWedding Bells Editorials port Stockton Springs The Pittsheld Trust Co. to go into the Hands of & Receiver. AGE 5. The News of Belfast Belfast. The Universalist convention. State the Sea Maine Spiritualist Perila Prospect Ferry Where Convention Many foultrymen are Wrong. Born. Married Societies Secret Ship News Market. Died.

4. May 29, 1913 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, May 29, 1913

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Article Text

William L. Pushor of Pittsfield, the treasurer of the Pittsfield Trust Co., was, Wednesday, named as receiver of that institution. A temporary injunction was granted, Tuesday, by Associate Justice Spear of the supreme court but at that time the receiver was not named. The hearing, Tuesday afternoon, was in chambers and no statement of the exact condition of the bank was given out. The officers of the company are: James M. Chalmers, president; Charles E. Vickery, vice president; William L. Pushor, treasurer and secretary; trustees, Frank S. Bagley, William A. Blaisdell, Mark T. Dodge, A. W. Knowlton, A. P. Bigelow, Llewellyn Parks, R. H. Reade, A. A. Shaw, Fred K. Smith, Charles E. Vickery, E. J. White, S. P. Felker, E. M. Sawyer, John A. Beal, O. W, Look, J. N. Martin, S. H. Sawyer, R. M. Goodwin, W. L. Pushor, J. H. Winchester.

5. May 29, 1913 The Independent-Reporter Skowhegan, ME
Article from The Independent-Reporter, May 29, 1913

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Article Text

PITTSFIELD TRUST CO. TO RECEIVERS The Company is Listed as Having $50,000 Capital With a Surplus of $7,000 A hearing on a bill in equity asking for a temporary injunction against the Pittsfield Trust Co., restraining it from doing business and asking for the appointment of a receiver was held Tuesday afternoon. before Associate Justice Albert M. Spear. The proceedings were instituted by Hon. Robert F. Dunton of Belfast, State bank commissioner, while Joseph Williamson, Esq., of the firm of Williamson, Burleigh & McLean appeared for the Trust Co. The evidence brought the fact that the liabilities of the institution are approximately $500,000, including its capital stock. It is uncertain how much will be derived from loans made sometime ago. The bank maintains branches at Jonesport and Corinna. Commissioner Dunton stated after the hearing that he had every hope to believe that there would be no loss to the depositors. Justice Spear granted a temporary injunction and he will shortly name the receiver. The Pittsfield Trust Co's. officers are: President, James M. Chalmers; vice president, Charles E. Vickery; treasurer and secretary, William L. Pushor. The company is listed as having $50,000 capital with a surplus of $7000.

6. May 29, 1913 The Republican Journal Belfast, ME
Article from The Republican Journal, May 29, 1913

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Article Text

The Pittsfield Trust Co. to go into the Hands of a Receiver. AUGUSTA, Me., May 27th. Associate Justice Albert M. Spear of the sup reme judicial court today granted a temporary injunction restraining the Pittsfield Trust Co., which maintains branches at Corinna and Jonesport, from transacting business. The receiver will be appointed in a few days. The liabilities of the company are given as $500,000 including its capital stock. The exact amount of assets cannot be determined, as it is uncertain how much will derived on loans made some time ago. Robert F. Dunton, State bank commissioner, stated that he had reason to believe that no loss would result to the depositors.

7. May 29, 1913 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, May 29, 1913

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Article Text

THE BANK FAILURE. Pittsfield Trust Co. Closed-Money Tied Up-W. L. Pushor Receiver. Pittsfield, Me., May 28.-(Special).Robert F. Dunton, State bank commissioner, who was in town, Tuesday, to close the Pittsfield Trust Co. from doing further business, left, Wednesday, for his home in Belfast. William L. Pushor, who has been treasurer of the bank, has been appointed receiver and will be found at the bank until settlements are made. The failure of the bank is a blow to the town. Many of the merchants were depositors and have money which will be tied up for an indefinite time. Although nothing definite has been given out to the public it is generally believed that no loss will result to the depositors. A considerable amount of the banks deposit is in the savings department, which will be pair in full according to the law. The Trust Co. began business July 19, 1913, with a capital of $50,000. The stockholders included many from out of town. Its surplus is $7000. Nov. 1903, a branch was started in Jonesport, O. W. Locke was treasurer at time of failure. In December, 1912, a branch was started in Corinna with J. H. Winchester, treasurer. The officers of the bank are: President, James M. Chalmers: Vice Pres., Charles E. Vickery; Treas and Sec., Wm. L. Pushor; trustees, Llewellyn Parks, Fred R. Smith, C. E. Vickery, J. N. Martin, W. L. Pushor of Pittsfield, and the following from out of town, Frank S. Bagley, William A. Blaisdell, M. T. Dodge, A. W. Knowlton, A. P. Bigelow, R. H. Reade, A. A. Shaw, E. J. White, S. P. Felker, E. M. Sawyer, John A. Beal, O. W. Look, S. H. Sawyer, R. M. Goodwin, J. H. Winchester.

8. August 6, 1913 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, August 6, 1913

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Article Text

STATE OF MAINE. SOMERSET, SS. IN THE SUPREME JUDICIAL COURT. IN EQUITY. Robert F. Dunton, Bank Examiner, vs. Pittsfield Trust Company. To the Supreme Judicial Court, In Equity: William L. Pushor of Pittsfield in the County of Somerset, Receiver in said cause. respectfully represents 1. That certain parties who are depositors in said Company are also makers, sureties or endorsers upon certain promissory notes due and owing the said Pittsfield Trust Company, and that said parties claim that the full amount of their deposits should be allowed by the Receiver in setoff to the amount due upon said notes, whether other depositors are paid in full or not. That some of these parties have time deposits, some have demand deposits and some have both time and demand deposits, and that the notes upon which they are severally makers, sureties or indorsers are in some cases included among the assets segregated for the benefit of time depositors and in some cases are not so included. That the following is a list of such deposits omitting names and residences, with a statement of the amount of deposit, whether same is a time or demand deposit, amount of note, due date of same and whether included in the segregated assets or not. * That the total amounts of offsets claimed or which may be claimed as aforesaid are as follows:

9. December 25, 1914 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, December 25, 1914

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PITTSFIELD Christmas Observances in the Churches Are Brilliant Affairs and All Are Successful LOCALS OF INTEREST AND PERSONALS The Christmas cantata, "Tables Turned," which was given Wednesday evening at the Universalist church by about 60 members of the Sunday school was very successfully rendered and was one of the prettiest affairs ever given by the school. Following the cantata a tree was held. Christmas was observed at the Free Baptist and Methodist churches Thursday evening with a tree and program given by members of the Sunday schools. Friday evening a tree will be held at Odd Fellows hall for the children of the lodge and their friends. Mrs. Caroline Spollett of Etna is passing Christmas with Mr. and Mrs. W. B. McGilvery. Dr. A. K. P. Smith and family left Thursday for Corinna to pass Christmas with Dr. Smith's mother. Mrs. Naomi Rogers left Wednesday for Roxbury, Mass., where she will pass the winter with her son, Arthur D. Rogers and family. Augustus Cargill is passing the holidays with relatives in Boston. Mr. and Mrs. Harris V. Mathews went to Bingham Thursday to pass Christmas with relatives. Miss Gwendolyn Griffin of Augusta arrived in town Thursday to pass Christmas and the week-end with her mother, Mrs. T. M. Griffin. The Pittsfield Trust Co., which suspended business several months ago, is paying this week 20 per cent. on the deposits in the savings department.

10. January 6, 1916 The Independent-Reporter Skowhegan, ME
Article from The Independent-Reporter, January 6, 1916

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Mrs. W. T. Seekins who was quite ill last week is improving. Dr. Cora M. Johnson dined with friends New Year's day in Waterville. The Bethany Guild is meeting this afternoon in the Ladies' Parlor at the Bethany Church. Miss Mary Guerney has returned to Boston after a visit at the home of her brother, E. J. Guerney on Water Street. William Lessard and wife of Portsmouth, N. H. who have been guests of Mrs. Lessard's sister, Mrs. Marie Boulette, departed Monday. Mrs. M. A. Eames of North Anson came to Skowhegan Monday to spend the remainder of the winter with her daughter, Mrs. Perley Stevens. Mrs. Rachel Webb left here Monday morning for Wabasha, Minn., where she is to pass two months with her son William B. Webb and family. Mrs. Lester H. Packard has been in Centerville, N. B. for several days, having been summoned there by the death of her step-mother, Mrs. Chas. L. Merrithew. Officer Guerney of Fairfield was up from Fairfield Saturday to commit one John Devine to the County Jail. Devine was arrested in Fairfield on an intoxication charge. The stockholders of the First National Bank are to hold their annual meeting on January 11 and the stockholders of the Skowhegan Trust Co. on Wednesday, January 12. The members of the Helen Coburn Mission Circle are to hold their annual meeting tomorrow afternoon. Mrs. Helen Weston is to act as hostess at her home on Main St. The High School orchestra, which was to have played at the Covell Meetinghouse last Friday evening were unable to keep their contract because neither a piano or organ was procurable. Somerset Chapter, R. A. M. was in session Friday evening, three degrees having been conferred. Supper was served shortly before 11 o'clock, Mrs. Kate Simpson catering, after which the dying year was watched out. Edward J. Butler of the firm of Lashon & Butler, has purchased of Thomas Butler, a house on Leavitt St., adjacent to the one where the latter resides. Mr. Butler has also sold to Benjamin L. Flanders, a house on East St. Mr. and Mrs. William R. Clapham recently entertained at a dinner party in celebration of their second wedding anniversary. Covers were laid for nine and after dinner there was a short program. Gifts were also given, each one being accompanied by a verse which caused much merriment. Through W. L. Pushor, receiver for the Pittsfield Trust Co. of Pittsfield, notice is given in this issue of an auction to be held in Pittsfield, the real estate formerly belonging to the Portland Mfg. Co. being offered for sale and including considerable property. Mr. Pushor was a member of the famous ball team of '87 and '88 and his picture was in the group of that team published in an issue of the Independent-Reporter last season. Otto R. Folsom-Jones of Harvard Business School, who has been visiting his parents, Mr. and Mrs. Chas. Folsom-Jones, departed Friday on the mid-day train. Miss Madeline Plummer of Lisbon Falls, who has also been a guest of the family departed at the same time. Among the holiday parties was a charming little auction given by Mrs. Folsom-Jones, the bidden guests being close friends of her son. During the evening fruit, salad, rolls and dainty pastries were served. The Bethany Men's Brotherhood class held a social meeting at the home of Edward Estabrook Friday evening, Mr. Estabrook being assisted in entertaining by Edward F. Haines and Maurice Magoon. During the evening Mrs. Estabrook favored the gentlemen with a vocal solo and a reading, and Mrs. G. R. Fogg gave a reading. There was also singing by the entire company and Rev. George Merriam offered remarks. The next meeting will be held at the Bethany Church and the Boys' Class will be guests. The following committee was appointed to have the affair in charge Messrs G. R. Fogg, Myron Whittemore. Nason, Tobey, Wells and Waldron. The Searchlight Club has elected officers for the ensuing year as fol-

11. June 10, 1916 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, June 10, 1916

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STATE OF MAINE. Somerset, SS. Upon the foregoing petition it is hereby ordered, adjudged and decreed, that said William L. Pushor, receiver, pay to each depositor in the savings department of Pittsfield Trust Company a sum equal to 10 per cent. of the amount of his deposits as evidenced by the report of said receiver as to claims and deposits now on file with the court. Said dividend shall be paid by check of said receiver and the endorsement of said check shall be a sufficient voucher to said receiver for the payment hereof. In all cases in which the balance of the deposit is ten

12. June 10, 1916 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, June 10, 1916

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Article Text

Pittsfield Trust Company. Petition of receiver for leave to declare dividends upon savings deposits. To the Supreme Judicial Court: The undersigned William L. Pushor, receiver, respectfully reports. First: That he has in his hands as proceeds of the assets of said bank, which were regregated under Chapter 32 of the Public Laws of 1911 for the security and payment of savings deposits, the sum of twenty-eight thousand eight hundred and sixty-nine and 99-100 dollars. Second: That the amount of such savings deposits as evidenced by the report of the receiver as to the same is two hundred forty-eight thousand nine hundred ninety-three and 23-100 ($248,993.23) dollars. He therefore respectfully prays that the court may order such portion of the funds in his hands, as aforesaid, to be divided among the depositors named in