7703. Maine Savings Bank (Portland, ME)

Bank Information

Episode Type
Run Only
Bank Type
savings bank
Start Date
December 23, 1899
Location
Portland, Maine (43.661, -70.255)

Metadata

Model
gpt-5-mini
Short Digest
3a99a32fbf3d0999

Response Measures

None

Description

The articles mainly describe a run on the Portland Savings Bank (Dec 23–24, 1899). They note spillover withdrawals from the Maine Savings Bank (about $15,000) but do not report a suspension or closure of Maine Savings Bank. Thus for Maine Savings Bank the episode is limited to withdrawals (a minor run-like event) tied to panic about another local bank.

Events (1)
1. December 23, 1899 Run
Cause
Local Banks
Cause Details
Spillover withdrawals caused by a run on the Portland Savings Bank; depositors withdrew about $15,000 from Maine Savings Bank.
Newspaper Excerpt
The excitement of yesterday extended to some of the other institutions and about $15,000 was drawn from the Maine Savings bank.
Source
newspapers

Newspaper Articles (3)
1. December 23, 1899 The Providence News Providence, RI
Article from The Providence News, December 23, 1899

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Article Text

RUN ON PORTLAND SAVINGS BANK CONTINUED TODAY. Portland, Me., Dec. 23.-The run on the Portland Savings bank continues today in a mild form. A few out-oftown depositors are drawing out their $100, but otherwise than this the situation is much quieter. The bank received this morning from Boston $50.000 in bills and with this amount they will be able to meet all demands. The affairs of the bank are in good shape. and it is expected the excitement will soon cool down. The excitement of yesterday extended to some of the other institutions and about $15,000 was drawn from the Maine Savings bank. It is estimated that about $45,000 was taken from the Portland Savings bank during the run.

2. December 24, 1899 New-York Tribune New York, NY
Article from New-York Tribune, December 24, 1899

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Article Text

Portland, Me., Dec. 23.-The - run on the Portland Savings Bank, which began yesterday, continued to-day in a mild form, H few out of town depositors having decided to draw out their savings. Aside from this the situation was much quieter. The bank received $50,000 in bills from Boston to-day and with this amount it was believed all demands could be met. The affairs of the bank are in good shape, and it is expected that the excitement will soon subside. The excitement of yesterday extended to some of the other financial institutions and about $15,000 was drawn from the Maine Savings Bank.

3. December 25, 1899 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, December 25, 1899

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Article Text

COMING TO SENSES. The Foolish Run on Rortland Savings Bank Is About Over. Portland, Me., Dec. 24.-The run on the Portland Savings Bank continued, Saturday, in a mild form. A few outof-town depositors are drawing out their $100, but otherwise than this the situation is much quieter. The company received, Saturday morning, from Boston. $50,000 in bills, and with this amount they will be able to meet all demands. The affairs of the bank are in good shape, and it is expected that the excitement will soon cool down. Excitement of Friday extended to some of the other institutions, and about $15,000 was drawn from the Maine Savings Bank. It is estimated that about $45,000 was taken from the Portland Savings Bank during the run.