Dime Savings Bank - Annapolis, MD

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: December 27, 1901
Location: Annapolis, Maryland (38.978, -76.492)

Metadata

Model: gpt-5-mini
Short Digest: 1736c834

Response Measures

None

Description

A bill was filed alleging insolvency and fraud; court issued injunction and appointed a receiver on 1901-12-27. No run is described in the articles. The bank was said to be paying demands temporarily, but the receiver was appointed, indicating suspension and likely closure/receivership.

Events (2)

1. December 27, 1901 Receivership

Newspaper Excerpt: appointing Francis P. Stevens, of Baltimore, receiver, with power and authority to take charge and possession of all the effects, money, books, papers and assets of the Dime Savings Bank, of Annapolis, Md, upon the filing of a bond ... in the sum of $5,000
Source: newspapers

2. December 27, 1901 Suspension

Cause: Government Action
Cause Details: Circuit court injunction and bill of complaint alleging insolvency and fraudulent issuance of promissory notes; court ordered receiver to take charge.
Newspaper Excerpt: An order was issued by the Circuit Court this morning, granting the petition and injunctions and appointing Francis P. Stevens, of Baltimore, receiver, with power and authority to take charge and possession of all the effects, money, books, papers and assets of the Dime Savings Bank, of Annapolis, Md
Source: newspapers

Newspaper Articles (2)

1. December 27, 1901 Evening Capital Annapolis, MD

Article from Evening Capital, December 27, 1901

Click image to open full size in new tab

Article Text

THE DIME BANK INSOLVENT. INJUNCTION AND BILL OF COMPLAINT FILED. The Bank Is About To Go Into The Hands Of Receivers-Order Of Court Issued And Receiver Appointed. An injunction and bill of complaint was filed in the Circuit Court this morning by John Kuehler and Max Tiechman. copartners, and Francis P. Stevens, trustee, and others, vs. the Dime Savings Bank, of Annapolis, Md., praying that a receiver be appointed to take charge of said corporation. The bill of complaint charges, among other things, that promissory notes of said bank to the amount of $1 500 have come to protest, and that they are advised and so charge that over $14,000 or promissory notes drawn by such corporation to the the order of Jackson Brandt were fraudulently issued, and that said Jackson Brandt either sold, pledged or pawned, of which sum $1.500 have gone to protest. The plaintiffs further charge that said corporation is utterly insolvent and unable to pay any of its obligations, which were issued and signed by one Robert L. Parker, as president, and Francis H. Walton, secretary, upon which was stamped the seal of the said corporation. They further charge that said corporation was conceived in fraud, and falsely represented to the public as an honest and reliable savings bank; that thousands of circulars and pamphlets were issued, saying that the Hon. Lloyd Lownds, ex-Governor of Maryland, was one of the directors and stockholders, whereas, he was never a director or stockholder in said bank. The bill of complaint covers seven type written pages of legal cap, and cites twenty-four bills of particulars and of charges. Thereupon an order was issued by the Circuit Court this morning, granting the petition and injunctions and appointing Francis P. Stevens, of Baltimore, receiver, with power and authority to take charge and possession of all the effects, money, books, papers and assets of the Dime Savings Bank, of Annapolis, Md, upon the filing of a bond with the State of Maryland in the sum of $5,000, and it was further ordered that a writ of injunction issue as prayed upon the filing of bond by the plaintiffs.

2. December 28, 1901 Evening Capital Annapolis, MD

Article from Evening Capital, December 28, 1901

Click image to open full size in new tab

Article Text

ANSWER FILED. Mr. James W. Owens Asserts That The Allegations Are False. Mr. James W. Owens, attorney for the Dime Savings Bank, today filed answer to the bill of complaint filed by Francis P. Stevens in the Circuit Court against the bank. In one paragraph of the answer Mr. Owens asserts that the allegations are false, and that Mr. Stevens knew it was false when he swore to it. Under the rules of the bank, depositors are required to give thirty days notice before they can withdraw their deposits, but realizing the anxiety of depositors under existing circumstances, the bank is paying all demands of its depositors, and are opening all savings boxes brought to the bank and returning the contents to the parties bringing them. This action has renewed confidence in the bank Judge Revell has passed an order on the plaintiffs to show cause why the order granting an injunction and appointing a receiver should not be annulled. Mr. Kuchler, of the firm of Kuchler & Teichman, plaintiffs in the case, telegraphed the bank today "The use of our names by Stevens as plaintiffs) is absolutely unauthorized."