7690. Pittsfield Trust Company (Pittsfield, ME)

Bank Information

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

Metadata

Model
gpt-5-mini
Short Digest
f23232caea4df765

Response Measures

None

Description

The articles report that the Pittsfield Trust Co. was restrained by a temporary injunction (May 28, 1913) and a receiver was appointed (May 29, 1913). This was a legal closure initiated by the state bank commissioner and court; there is no description of a depositor run. Later filings (Aug 1913) relate to receivership claims, and a Dec 25, 1914 notice states the suspended company was paying 20% on savings deposits — indicating partial payments under receivership rather than a full resumption of normal business. Therefore this is categorized as a suspension followed by closure/receivership.

Events (4)
1. May 28, 1913 Suspension
Cause
Government Action
Cause Details
Temporary injunction granted by the Supreme Judicial Court at the petition of State Bank Commissioner Robert F. Dunton, restraining the bank from transacting business.
Newspaper Excerpt
Associate Justice Spear ... granted a temporary injunction restraining the Pittsfield Trust Co. ... from transacting business. A receiver will be appointed in a few days.
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. ... The failure of the bank is a blow to the town. ... 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.
Source
newspapers
3. August 4, 1913 Other
Newspaper Excerpt
Robert F. Dunton, Bank Examiner, VS. Pittsfield Trust Company. ... William L. Pushor of Pittsfield in the County of Somerset, Receiver in said cause, respectfully represents ... depositors are also makers, sureties or endorsers upon certain promissory notes ... offsets claimed ... included among the assets segregated for the benefit of time depositors ... (court/receivership proceedings).
Source
newspapers
4. 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

Newspaper Articles (11)
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 4, 1913 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, August 4, 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. August 5, 1913 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, August 5, 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:

10. 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:

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

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Article Text

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.