7655. American Bank (Hallowell, ME)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 1, 1868*
Location
Hallowell, Maine (44.286, -69.791)

Metadata

Model
gpt-5-mini
Short Digest
32dbf9b32e70ca44

Response Measures

None

Description

The articles consistently refer to the American Bank of Hallowell as failed/defunct with receivers appointed and later actions by the receivers (payment of dividends on outstanding certificates, and burning of the bank's bills). There is no mention of a depositor run; the bank was in receivership and effectively closed permanently. OCR contains minor errors (e.g., 'H sllowell' -> Hallowell) which are corrected here.

Events (4)
1. January 1, 1868* Receivership
Newspaper Excerpt
During the life time of this policy, said Bank failed, and Henry K. Baker, Eliphalet Rowell and Simon Page were appointed receivers of the same, and your petitioner turned over this policy with other papers and assets of the bank to them: ... the suit was defaulted at the said ... term for $160.86 ... execution issued March 2nd 1869 ... and others in 1872, 1873, 1874, 1875, 1877, 1879 and 1880.
Source
newspapers
2. December 17, 1877 Other
Newspaper Excerpt
During the year the receivers of the defunct American bank of Hallowell, have paid dividends to the amount of $580.24. The amount of certificates now outstanding is $896, and the cash on hand to pay the same is $788.48.
Source
newspapers
3. December 16, 1878 Other
Newspaper Excerpt
The outstanding certificates of the American Bank of Hallowell are $800. Cash on hand to pay the same, $704, at the rate of 88 per cent., the dividend ordered by the court.
Source
newspapers
4. January 14, 1881 Other
Newspaper Excerpt
The Receivers of the American Bank, Hallowell, by order of the S. J. Court, last week burned bills of that bank to the amount of $65,332.
Source
newspapers

Newspaper Articles (5)
1. December 17, 1877 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, December 17, 1877

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Article Text

BY TELEGRAPH. MAINE. MAINE SAVINGS BANKS. Fifth Annual Report of Examiner Belster. [Special to the Press.] AUGUSTA, Dec. 16.-The fifth annual report of Bank Examiner Bolster gives a gratifying exhibit of the condition of our savings banks. The improvement in their condition is very marked and there has been a corresponding increase in public confidence in them. BANKS OF DISCOUNT. The report first deals with banks of discount of which the only one left is the Eastern of Bangor, the Mercantile of the same city having surrendered its charter in March, 1876, and the North of Rockland, having opened its books as National Bank, on the 15th of last September. The Eastern is thoroughly sound and in a prosperous condition. During the year the receivers of the defunct American bank of Hallowell, have paid dividends to the amount of $580.24. The amount of certificates now outstanding is $896, and the cash on hand to pay the same is $788.48. LOAN ASSOCIATIONS. The Peoples' Loan and Building Association of Richmond, is the only one in the State. It was incorporated in February, 1875, and is in a Sound condition with assets to the amount of $20,178.42. The receipts and disbursements for the two years ending March 19, were $18,730.11. The system on which it operates has been frequently explained. SAVINGS BANKS. The number of savings banks now organized in this State is sixty-four, the same as last year. Those which have been placed in the hands of receivers are the Winthrop, Solon, Bucksport and Lewiston Institution for Savings, paying respectively, 40, 85, 40 and 50 cents on the dollar. There will be an early settlement of the affairs of the Solon bank and Lewiston Institution for Savings, but the final settlement of the others will be delayed by pending litigation. The deposits and profits of the sixty banks now doing business, on the 5th of November last, were $26,898,432.76. The assets, as compared with 1876, are as follows: ASSETS. 1876. 1877. Invested in United States bonds...$ 602,419 16 $ 982,869 47 State of Maine bonds 137,319 75 97,216 50 Other state. county and

2. December 16, 1878 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, December 16, 1878

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Article Text

BY TELEGRAPH. MAINE. MAINE SAVINGS BANKS. Annual Report of Bank Examiner Bolster. AUGUSTA, Dec. 15. The report of W. W. Bolster, State Bank Examiner, has been prepared for submission to the Governor and Council. Although the past year has been more trying to savings institutions,than any previous ones,our savings banks are in a better condition and stronger than a year ago. BANKS OF DISCOUNT AND DEPOSIT. The Eastero and Mercantile banks of Bangor have both surrendered their charters and are transacting such business only as is neces sary to a final s-ttlement of their affairs. Tue outstanding certifica es of the American Baok of H sllowell are $800. Cash on hard to pay be same, $704. at the rate of 88 per cent., the dividend ordered by the court. SAVINGS BANKS. The number now organized and doing business in the state is fifty-nine, a decrease of five since September 27, 1875. These have been placed in the hands of receivers, baing the only ones 80 placed since the organization of the system in the state, and are given in the following table, showing their present condition and the progress made in the settlement of their affairs: TOOD

3. September 25, 1880 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, September 25, 1880

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Article Text

Legal Abbertisements. To the Honorable Justices of the Supreme Judicial Court next to be held at Augusta, in and for the county of Kennebee, on the third Tuesday of October, 1880. American Bank, then doing business at HalThe undersigned respectfully represents that the lowell in said county, in September, 1865, caused the ship Alexandrine to be attached as the property of Henry Cooper, Jr., and others who were then in. debted to the Bank: and about the same time, said Bank ordered your petitioner to cause said ship to be insured for their benefit for the sum of rix thou-and dollars ($6,000) in the Piscataqua Fire and Marine Insurance Company. This was done in the name of your petitioner, and he gave hts individual note for the premium amounting to one hundred and thirtysix dollars ($136.) During the life time of this policy, said Bank failed, and Henry K. Baker, Eliphalet Rowell and Simon Page were appointed receivers of the same, and your petitioner turned over this policy with other papers and assets of the bank to them: and when he was subsequently called upon by the Insurance Company to pay this note, h notified said receivers of all the facts in the case and requested them to take charge of it, and relieve him from all liability on account of the same; but said receivers while not denying that they ought to relieve your petitioner and assume the liability, if any there was, refused to pay said note to said Insurance Company for the reason the company was insolvent at the time they issued the policy. Consequently the note remained unpaid and was sued and the writ was returnable at the Supreme Judicial Court in and for the county of York at Sep. tember term 1868. At that term, S. C. Harley, an attorney at law located at Hailowell, answered to the suit, but before the next term in January following said Harley died, and 1.0 further answer was made to said action, and it was defaulted at the said la-t named term for $160.86 debt and $14.91 costs, and an execution was issued March 2nd 1869, June 1-t 1872 and others in 1873, 187+, 1875, 1877, 1879 and 1880. On the last named execution your petitiouer was arrested and gave a six months bond which is still in force. Your petitioner is informed and believes that said receivers have suffi ient fund. in their hauds, belonging to the An emean Bauk, to pay or compromise this judgment and execution, and fully indemnify and relieve him from any further costs or expenses in connection with the same. Wherefore he respectfully prays that after due notice to said receivers, they may be au horized and ordered to adjust this debt and fully release and discharge your petitioner from the same and for the costs of this proceeding. ALEXANDER H. HOWARD. Augusta, Me., Sept. 7, 1880.

4. January 14, 1881 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, January 14, 1881

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Article Text

The Receivers of the American Bank, Hallowell, by order of the S. J. Court, last week burned bills of that bank to the amount of $65,332. They were burned by the Receiver, Judge Baker and Major Rowell, in presence of E. K. Butler aud Thomas Hovey, Esq. as witnesses.

5. January 15, 1881 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, January 15, 1881

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Article Text

STATE NEWS. ANDROSCOGGIN COUNTY. While Mr. Chas. Knowlton was chopping wood in West Auburn a few days ago, he was dangerously injured by a tree falling upon him. A five year old child of Geo. Burham of Leeds fell into a tub of hot water a few days ago and was very dangerously scalded. The Ricker Brothers shipped 150 barrels of Poland water last week-a larger quantity than ever before in the same time. Business in the Auburn shoe factories is slowly picking up. The shipments are not as heavy as at this time last year. Last year the business commenced with a boom which did not hold out through the year. This year the manufacturers think the business will begin firm and remain steady to the close. The total number of cases shipped this week is 950. CUMBERLAND COUNTY. The Oriental powder mills at Gambo are running briskly and have orders for all the powder they can make. During the drouth last fall Sebago Lake was lower than for many years, and a number of very large teeth of some animal long ago native of Maine forests, were found imbedded in the sand at low water mark. The largest were about three inches long by two wide. It is believed they belonged to the moose. The manager of the Grand Trunk railway has solicited an interview with the railway committee of Bridgton. The latter have reported in the affirmative, and will meet with him next Tuesday at Norway. KNOX COUNTY. The house in Rockland belonging to Wm Spofford was badly damaged by fire on Monday. KENNEBEC COUNTY. The recoivers of the American Bank at Hallowell have burned by order of the court bills to the amount of $65,332. SAGADAHOC COUNTY. Capt. Wm. Lewis of New Bedford, Mass., has contracted with Messrs. Goss, Sawyer & Packard of Bath, for the building of a third steam whaler to be employed in the Arctic Ocean rishery, the success of steam in those waters having been de constrated by the large catch of the Mary and Helen last season. The new ship will be called the North Star, and will register 700 tons. WASHINGTON COUNTY. Since Nov. 26th up to the present time this season there have been 54 cargoes of frozen herring shipped from Eastport, containing about 12,500,000 herrings. There has also been some 5000 barrels shipped by steam. The grand jury have found an indictment against Wm. and Fayette Shaw of Boston and Brockley Shaw of Montreal, for violating the steamboat law in running the steamer Fanny Bates, transporting passengers on Grand Lake without examination or inspection. In 1879 the boiler burst, blowing Henry Fleming into the air, from which he sustained permanent injury, for which A. McNicol has brought suit for $20,000. The defendants are all out of the state, but unless they appear to answer to the indictment County Attorney Rounds will apply for a requisition. YORK COUNTY. The Saco Republican is dead. 20,000 tons of ice will be cut on the Saco this season. A two story double house, barn and outbuildings belonging to Moses Furbish of North Berwick, were totally destroyed by fire last Thursday night. The buildings were owned by Ed. Goodwin: insured to the amount of $2,500. The buildings of Jerome W. Cole in Cornish were burned Thursday morning. The whole stand, consisting of a two story house and L, shed and barn, was entirely consumed together with hay, grain and provisions. The stock and nearly all the furniture were saved. Well insured. Walter R. Brown, the Boston broker who was killed last week by falling down a flight of steps, was a resident of Kittery Point and the owner of the well known Sparhawk mansion. The new academy in Limerick is nearly completed. The first term will begin Feb. 21st, with Walter E. S. Preston, A: B., of Sutton, N. H., as Principal.