Newport Savings Bank (Newport, ME)

Episode Information

Episode UID
5843650590938
Episode Type
Suspension → Closure
Bank Type
savings
Bank ID
584365059 hash
Start Date
February 20, 1878
Location
Newport, Maine (44.835, -69.274)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
32638805e6fadc64

Response Measures

None

Description

Contemporaneous reports cite insolvency/defalcation and the bank later went to a receiver (Aug 1878).

Events (3)
1. February 20, 1878 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended due to insolvency/financial failure (deficits later litigated).
Newspaper Excerpt
The Newport Savings Bank, at Newport, Me., has suspended.
Source
newspapers
2. May 21, 1878 Other
Newspaper Excerpt
The court scaled down deposits to 60 per cent (petition to scale down deposits).
Source
newspapers
3. August 1, 1878* Receivership
Newspaper Excerpt
In August, 1878, the bank passed into the hands of John W. Hobart as receiver.
Source
newspapers

Newspaper Articles (15)
1. February 21, 1878 New-York Tribune New York, NY
Article from New-York Tribune, February 21, 1878

Click image to open full size in new tab

Article Text

TELEGRAPHIC NOTES. SALT LAKE, Feb. 20.-A snow slide at Bingham to-day, killed two men. DEXTER. Me., Feb. 20.-The Newport Savings Bank, at Newport, Me., has suspended. BOSTON, Feb. 20.-Charles Bailey, age forty-five, was arrested this morning while rifling street letter-boxes by the aid of duplicate keys. Seventy-four letters were found concealed about his person. WHEELING, W. Va., Feb. 20.-The Pittsburg, Wheeling and Kentucky Railroad will be opened for passenger and freight traffic on February 25. This is the short line road between this city and Pittsburg. BOSTON, Feb. 20.-At Haverhill, Mass., this morning, Charles A. Harriman, of that place, completed his walk of 100 miles in eighteen hours, forty-eight minutes and forty seconds. This is said to be the shortest time on record. BALTIMORE, Feb. 20.-The trial of the case of the State agt. Samuel Barth, F. A. Savin, Charles Harvey, W. H. Strauss. of Baltimore, and s. M. Baidwin. Marcus D. Savin, W. P. Buckmaster and J. De La Mar. of New-York, for conspiracy to defraud by means of certificates of deposit of the Union Banking Co., of Baltimore. which suspended last October, was continued in the Circuit Court before Judge Brown to-day, and is still on.

2. February 21, 1878 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, February 21, 1878

Click image to open full size in new tab

Article Text

Suspended. DEXTER, Mr., February 20.-The Newport Savings Bank, at Newport, Maine, has suspended.

3. February 21, 1878 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, February 21, 1878

Click image to open full size in new tab

Article Text

MAINE. Maine Board of Agriculture, WARREN, Feb.; 20.-Papers on permanent pastures were read by P. L. Leland of Piscataquis, and on improving and renovating farms by P. Bodwell of York and discussed by a large number of speakers. The attendance was large. The following officers were elected: W. W. Harris, Portland, President George Flint, Anson, Vice President. S. L. Boardman, Augusta, Secretary. The next session will be held at Presque Isle, Aroostook county, early in the autumn. In the afternoon an essay on grasses and forage plants was read by Samuel Wasson of Hancock. There are one hundred and twenty-five species of grass"known to be native in Maine and a survey would discover half as many more. Thirty-five kinds have been tamed and but! fifty have an agricultural value. The grass crop iu Maine is worth forty-two million dollars annually. Mr. Wasson recommends forty pounds mixture of grass seed per acre or eight seeds to the square inch, sown one quarter inch deep. Discussion followed. In the evening a very interesting and instructive lecture on walks and talks on the farm was delivered by Joseph Harris of Roch ester, N. Y. Failure of the Newport Savings Bank. DEXTER, Feb. 20.-The Newport Savings Bank, located at Newport, Maine, has suspended. Knights of Honor. AUGUSTA, Feb. 20.-The Grand Lodge, Knights of Honor, held their annual reunion in this city today. George A. Callahan, Grand Dictator, presided. There was a full attendance of delegates from the several lodges in the state. Daring the past year five new lodges have been instituted in this state, making a total of thirteen lodges with a membership of 376, being a gain of 214 during the year. But one death occurred during the year and but 11 assessments.

4. February 21, 1878 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, February 21, 1878

Click image to open full size in new tab

Article Text

NEWPORT. Suspension. Dover, February 20. The Newport Savings Bank, located at Newport, Maine, has suspended.

5. February 21, 1878 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, February 21, 1878

Click image to open full size in new tab

Article Text

Maine. SAVINGS BANK SUSPENDED. DEXTER, February 20.-The Newport Savings Bank, at Newport, has suspended.

6. February 22, 1878 The Daily Gazette Wilmington, DE
Article from The Daily Gazette, February 22, 1878

Click image to open full size in new tab

Article Text

THE Somersworth, New Hampshire, | | Savings Bank, has suspended; also, the Newport, Maine, Savings Bank. -

7. February 22, 1878 Daily Globe Saint Paul, MN
Article from Daily Globe, February 22, 1878

Click image to open full size in new tab

Article Text

The Newport Savings Bank, at Newport Maine, has suspended.

8. February 28, 1878 Ellsworth American Ellsworth, ME
Article from Ellsworth American, February 28, 1878

Click image to open full size in new tab

Article Text

state News. -Searsport isn't likely to get its shoe factory. -Machias boasts of a girl 13 years old who weighs 171 pounds. -The Newport Savings Bank. located at Newport. Maine. has suspended. -The Greenbackers have voted to run a ticket In the Biddeford city election. -The next session of the Maine Board of Agriculture will be held at Presque Isle, early in the Autumn. -Mr. Needham. the revivalist, arrived at Portland and began a series of meetlogs, Thursday. Feb. 21st. -Daniel Lambert of West Farmington, aged 90 years, committed suicide by hanging Tuesdav. The cause is unknown. -The greenback party of Lewiston nominsted Thursday. Z. II. Spinney for mayor. and a full ticket for aldermen and council men. -The ghost of a deceased citizen visits his former residence in Portland every night. or else the steam apparatus is out of order. -There have been sent from Rangely Lake to Dr. Innis of Houlton. 30,000 eggs of land-locked salmon and a like number of blue-back trout for distribution in Aroostook Lakes. -The Evans Rifle Company at Mechanic Falls. while hurrying up to fill an order for 3000 rifles received on Friday an order for 5000 more. The works are now turning out about $2000 worth of rifles per day. -The ice business on the Kennebec gives employment to a large number of laboring men. The Knickerbockers had 800 men on their pay-roll last week. and between Merrymeeting Bay and Hallowell there are not less than 3000 men at work.

9. May 9, 1878 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, May 9, 1878

Click image to open full size in new tab

Article Text

STATE NEWS. Mr. Skilings has commenced to put on an addition to the Bethel Steam Mill, a building seventy by ninety feet, and put in machinery to manufacture headings, shovel and fork handles. The furnace is fed wholly with shavings and sawdust brought on endless belts from all parts of the mill dumping their contents in front of the furnace. The debris of the mill is used up and the sawdust of one log is made to saw the next log. Fourteen divorces were granted at the April term of the Supreme Judicial Courti in Androscoggin county. The spool factory at Lock's Mills, is finding better times, and has added a few hands to its past number. American shoes begin to be exported. The market is proving larger, and there is going to be something for shoe shops to do, if present prospects are not delusive. A census of scholars has just been completed in Auburn, showing there are now 2780 scholars in the city. Edmund Jordan, while sawing shingles at Woodsum's mill, in Norway, a few days since, brought bis left hand in contact with the circular saw, and had two fingers, the first and third badly mangled, and one, the second, was entirely cut off. The matter of the insolvency of the Newport Savings Bank is being heard at Bangor, on a petition to scale down. One hundred and seventy. six of the depositors have signed a remonstrance against scaling down and are in favor of the appointment of a receiver. State Bank Examiner Bolster favors scaling down.

10. May 9, 1878 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, May 9, 1878

Click image to open full size in new tab

Article Text

The matter of the insolvency of the Newport Savings Bank is being heard by the Supreme Conrt at Bangor on a petition to scale down its deposits. State Bank Examiner Bolster favors scaling dowo, while 176 of the depositors want a receiver appointed. SOMERSET COUNTY. One hundred acres of sugar beets will be planted in the vicinity of Fairfield. Augustine Simmons will deliver the address in Fairfield, Memorial day,

11. May 22, 1878 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, May 22, 1878

Click image to open full size in new tab

Article Text

BY TELEGRAPH. MAINE. The Topsham Postoffiee Robbed. BRUNSWICK, May 21.-The postoffice at Topsham was entered Monday night and robbed of stamps, stamped envelopes, postal cards and small money, and the letters were rifled. $1500 Supreme Court. ALFRED, May 21.-The Supreme Court, Judge Barrows, began this session today. The attendence of the bar was uncommonly large. There is a full docket, some three hundred cases being marked for trial with fifteen actions assigned for jury trial. The Newport Savings Bank. BANGOR, May 21.-The Newport Savings Bank matter was heard today. The court scaled down deposits to 60 per cent. The case goes to the law court upon the question whether the court had authority to scale down deposits when it appears that any of the conditions of law respecting savings banks has been broken by the trustees. Greenback Meeting. At a meeting addressed by Solon Chase last week, the chairman announced the intended formation of a Greenback club, but postponed the meeting for a week-May 20. It is learned that the meeting last evening at the common council room only five or six were present and the club project was again deferred. Sickness in Kittery. PORTSMOUTH, N. H., May 21.-It is Kittery instead of Portsmouth where the schools have been closed on account of diptheria. There are no cases here. Nominations by the Governor-D. W. Fessenden for the Clerk of Courts in Cumberland County. AUGUSTA, May 21.-The following are nominations by the Governor: Trustees Insane Hospital-John T. Gilman, Portland; Fred E. Richards, Camden. Trustee of the College of Agriculture and Mechanic Arts-Caleb A. Chaplin, Harrison. Commissioners under "resolve for an investigation relating to elections in certain towns and plantations"-Lucillius A. Emery, Ellsworth; Charles Baffum, Orono; Alfred S. Kimball, Waterford. Fish Wardens for the State-George N. Prescott, Monmouth; Hollis J. Rowe, Newport; A. C. Carr, Winthrop. Clerk of Courts for Cumberland CountyDaniel W. Fessenden, Portland. Annual Meeting. The annual meeting of the Maine Homoe. pathic Medical Society was held today, some 25 members being in attendance. Interesting di cussions were held and scientific papers read. The following officers were elected for the ensuing year: President-Dr. W. L. Thompson. First Vice President-Dr. C. A. Cochran. Second Vice Prestdent-Dr. E. T. Vose. Recording Secretary-Dr. D C. Perkins. Corresponding Secretary-Dr. J. B. Bell. Treasurer-Dr. L. H. Kimball. Censors-Drs. Wm. Gallup, H. B. Eaton, K. L. Dodge, Rufus Shackford, N. G. H. Pulsifer. Committee on publication-Drs. Burr and Sylvester. Committee on legislation-Drs. Bell, Burr and Jeffords. The next meeting will be held in Au gusta on the first Tuesday of June, 1876.

12. February 3, 1879 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, February 3, 1879

Click image to open full size in new tab

Article Text

cuffs answering the same description, but that they sold them all in 1877, and do not remember that Mr. Barron was a purchaser, and if he had been they wonld not be likely to remember the fact. The bank officials have ascertained that on the 1st day of January, 1877, Mr. Barron discharged a mortgage on his house of $2000. They also find that he began covering up his tracks as far back as October, 1876, or 1877, by "doctoring" his books. On that date appears an entry of $2000, charged off to no special account, that sum being necessary to balance the account. In the safe an envelope was found, containing a paper on which MrBarron makes an assignment of $2000, on a policy of $5000 in the Berkshire Life Insurance Co. By his cash book it appears that thereought to have been $520 in cash on hand, when in reality, there was no money in the bank, as has already been stated. In reference to the $500 bond entered on the books, the bank has extensively advertised for information as to who, if any one, sold such a bond to Mr. Barron, or any one representing him, on or about that time, but have not been successful. The presumption now is that no $500 bond was ever purchased by him, and that the entry was made to account in part for the $1600 which should have been on hand at that time. In addition to the value of the bond, he also charged off $567 to "cash," which, together with the bond, make an aggregate of $1067 unaccounted for on the other books. In the drawer, in Barron's desk, was found a copy of the trial of Scolt & Dunlap, the Northampton bank robbers. It will be remembered that when that bank was robbed, the eashier was taken from his house, gagged handcuffed and partially choked by a rope around his neck, in order to compel him to open the doors of the bank. The supposition is that Mr. Barron imitated as nearly as he could the modus operandi of these desperadoes. It is supposed that the false statement made by Mr. Barron to the Bank Examiner, in '77, together with the suspension of the Newport savings bank the week previous, and the knowledge in his possession that the Dexter bank could not stand a run, impelled him in the commission of the fatal deed. Mr. Joseph Murch, a Bangor expert acconutant, was put upon the books last Monday, and is now going over all the accounts of the deceased treasurer, for the ten. years that he filled the office. For further developments the public must await Mr. Murch's report to the bank officers. Detective Heald of Portland, does not place the least faith in the suicide theory, as advanced by Detective Dearborn. Soon after the affair Mr. Heald was in Dexter, and with the bank officials and others, examined thoroughly into the matter. He thinks that even if Mr. Barron had contemplated suicide, he was not the man to elaborate his plans. The finding of the overturned coal hod, the false teeth and pen of Mr. Barron, as they were, the position of the body, and other circumstances, all go to show, in Mr, Heald's mind, that Mr. Barron was murdered. He also states that after the murder the bank was closed and not again opened until the Bank Commissioner had thoroughly examined the books and pronounced them correct. Mr. H. says the victim was not conversant enough with criminal matters to enable him to "put up the job" in such a finished manner.

13. February 14, 1879 Iowa County Democrat Mineral Point, WI
Article from Iowa County Democrat, February 14, 1879

Click image to open full size in new tab

Article Text

CASHIER BARRON. No Longer a Hero but a Defaulter and Suicide--His Remarkable Crime and What Induced Him to Commit It. The reported deficit in the accounts of Barron as cashier of the Dexter (Me.) Savings Bank is fully confirmed. The sum for which he was in default was, as far as known, $3,000, and it had been concealed by irregular entries in the cash and deposit books and by alterations in figures. The first suspicious circumstance that appeared to Detective Dearborn was the fact that the bank trays in which the cash was kept still contained $15 when found lying upor the counter the morning after the tragedy. In the sale inside the vault were a number of pigeon-holes, in several of which various sums of money and other valuable property were found. One contained $100 worth of revenue stamps: another, $25 in bills; another, $15, and still another $20. Not a single dollar was missing, and none of the papers had been disturbed. The safe doors were open, but the steel chest inside the'safe, containing the bank securities, and upon which there was a time-lock, was unmolested. The gag in Barron's mouth also was not such a one as a professional burglar would have used, and the cord about the dead man's neck was of a kind which was stored in a rear room. A close examination of the symptoms preceding death also lead the doctors to conclude that it had been caused by morphine, administered to himself by Barron after he had put himself into the plight in which he was found. Barron was carrying an insurance on his life of $13,000, which would cost him in premiums about $275 annually. The interest on the mortgage on his house was about $150, his church tax about $100 and insurance $50, a total of $600 a year. He was at the time receiving a salary of $1,000 from the bank and $30 from the town, a total of $1,030 a year. Substraction from this amount $600 would leave only $430 with which to support a family of seven persons. It 18 supposed that a false statement made by Barron to the bank examiner in November, 1877, together with the suspension of the Newport (Me.) Savings bank the week before, and the knowledge that the Dexter bank couid not stand a run, impelled him in the commission of the fatal deed, If the bank failed the examiner would be compelled to investigate its affairs. He would then be exposed as a perjurer and defaulter. He stood so high in the community, having occupied almost every position of honor and trust in the town, that the fear of exposure was enough to lead him to the fatal act.

14. January 26, 1898 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, January 26, 1898

Click image to open full size in new tab

Article Text

AFTER MANY YEARS. / Sum of $6000 Turned Over to Penobscot County by Bank Receiver. / In the supreme court at Bangor, Monday, action was taken in one of the most curious cases which ever came to the attention of savings bank authorities in New England. Twenty years ago the Newport savings bank became defunct, and yet scores of the / depositors have not claimed their money, and cannot be found, even. In August, 1878, the bank passed into the hands of John W. Hobart as recei ver. The usual process of settlement was begun. In 1889 the sum of deposits left unclaimed amounted to $10,000, and the court issued a final order of distribution. Then the case dropped out of sight. Mr. Hobart moved to Boston, and though he kept diligently at work, Maine people heard little of him. Not many months ago Bank Examiner Timberlake received notice from Justice Emery of the supreme court that the Newport bank case was pending still, and that if. not settled at once it would be dismissed from the docket. This was the first Mr. Timberlake knew of theicase, which had originated with another bank examiner and was not even recorded on the books of the examiner's office. Steps were at once taken for a disposition of the case, and care was taken that it was not dismissed. Monday afternoon Receiver Hobart, Bank Examiner Timberlake 'and Franklin A. Wilson, as attorney, appeared in court and asked for a decree in the case. The receiver's report, as filed, shows about 200 depositors yet undiscovered, with balance unclaimed of $6000 According to the order of the court this sum will now be deposited in the treasury of Penobscot county, in trust for the unknown depositors. Their claims are good and they can get their cash on application.

15. January 27, 1898 The Somerset Reporter Skowhegan, ME
Article from The Somerset Reporter, January 27, 1898

Click image to open full size in new tab

Article Text

It takes some years to close up the affairs of a savings bank even in Maine where such institutions are, with few exceptions, not large ones. The Newport Savings Bank has been 20 years in process of settlement and yet shows the names of some 200 depositors whose whereabouts have not been discovered, despite diligent search by the receiver. The sum represented in deposites is not large however being but a little more than $600. According to the order of the court, this sum will now be deposited in the treasury of Penobscot county in trust for the unknown depositors. Their claims are good and will remain so, and they can get their cash on application.