8612. Auburn Bank (Auburn, ME)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
January 1, 1876*
Location
Auburn, Maine (44.098, -70.231)

Metadata

Model
gpt-5-mini
Short Digest
5c560850

Response Measures

None

Description

Newspaper items (Jan–May 1876) report depositors had given notice to withdraw funds but then countermanded orders (about $10,000), and there is now no run. No suspension, closure, or receivership mentioned. Cause not explicit; likely driven by rumor/nervousness rather than bank insolvency.

Events (1)

1. January 1, 1876* Run
Cause
Rumor Or Misinformation
Cause Details
Depositors had signaled intent to withdraw funds but reversed their decisions after reassurances about the bank's soundness; article describes nervous withdrawals rather than proven insolvency.
Measures
Depositors countermanded withdrawal notices; public reassurance of the bank's soundness.
Newspaper Excerpt
Persons who had given notice at the Auburn Bank that they would withdraw their funds, are countermanding their orders... Tuesday, notices of withdrawal amounting in all to $10,000, were countermanded.
Source
newspapers

Newspaper Articles (3)

Article from Daily Kennebec Journal, January 15, 1876

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Article Text

The Lewiston Journal says: The tide has turned very materially. Persons who had given notice at the Auburn Bank that they would withdraw their funds, are countermanding their orders. This is the manly course, now that everybody who knows anything of the Bank, understands its complete soundness. Tuesday, notices of withdrawal amounting in all to $10,000, were countermanded. It now seems that depositors mean to let their funds alone and draw their interest hereafter as usual. This returning wisdom will prevent the calling in of mortgages and the great pecuniary distress and business prostration which would inevitably follow the forcing of our Savings Banks into closing up affairs. There is now no run on any of our Savings Institutions.


Article from Daily Kennebec Journal, May 12, 1876

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Article Text

Loral and State News. The City Assessors are engaged in making the annual valuation. We are glad to learn that Rev. E. H. W. Smith is improving in health. An important notice in relation to fire alarms, from the Chief Engineer, will be found in ourcolumns. There are several lamps of the Globe Company, in different parts of the city, that do not burn. What's the matter? Travelling on the country roads is more horrideble than it has been for years. This has a pressing effect upon city trade. The house-cleaning fiend is still abroad in the land. That with the dull weather, is making numerous subjects for insane asylums, or hospitals for cripples, or homes for little wanderers. It is understood that Page, the escaped inmate from the Insane Hospital, is at Sidney, and was wandering around in the woods Wednesday eve ning. An officer has been sent for him. A man named Gould, who escaped from the Insane Hospital last fall, was captured in this city by the police, a little past midnight of Wednesday. He was standing near the Kennebec bridge, and said he was on his way to the hospital. Owing to the death of Sir Knight C.P. Richards. the installation of officers of the Commanand services of dedication dery, of the Wednesday, enlarged Masonic Hall, intended to occur next has been postponed for the present. The members of Augusta and Bethlehem Lodges, and all sojourning Masons, are requested to meet at Masonic Hall at one o'clock Sunday .M., to attend the funeral of our late Brother, Clement P. Richards. A full attendance is requested. The Health Lift at J. W. Clapp's, corner of Water and Bridge streets, is productive of health in an eminent degree. Mr. Clapp will be happy to furnish persons calling at his rooms with documents showing the nature of the practice and its effects upon the health. Machias Union thus refers to Mr. H. M. Heath of well known on the term of is The The present Gardiner, Washington Academy, Kennebec: The fully attended, numbering fifty-five pupils. term closes the last of June, and Mr. Heath, who acceptably filled the place of Preceptor three ye into will resign his position. He intends to enter the practice of law in Augusta. The Academy has steadily gained under Mr. Heath's administration and is again prosperous. From indications thus far, the Maine press will be pretty largely represented on the occasion of the Editors and Publishers' Excursion to Philadelphia, the first week in June next. We understand that one hundred persons have signified their intention of going. Will others who intend to accompany the excursion notif. the proper committee without longer delay, that arrangements as to state rooms on steamer, and board in Phila delphia may be fully perfected. The Gardiner Journal says that the Gardiner Savings Institution, if called upon to realize upon its could sell its at a large cost. The President the advance investments, over securities remarked to us: "We wish they would make a rush 113 for about a half a we to sell our bonds we a were other on obliged day million, could for make if large them." In these savare dropping off like rotten it ings banks profitor days, when apples, point to is with pride that Gardiner and Augusta their banks. However lively ourpatriotism may be (on paper) we see no particular necessity for fault-finding or quarrelling with those gentlemen in the city coun. cil the appropriation for the celebration of the Fourth in Augusta. acted and with the city conscientiously who voted against belief that They the had no legal right to mave such an appropriation. Had the measure authorizing the appropriation received a passage, an injunction would have been for, to restrain the city using applied indicated. from the money for the purpose The story having got into the papers that there had been racing of trains on the two roads beand Boston, Supt. the comes tween Boston Portland & Maine, forward with Furber the that of statement that he is running no train upon road at rate of speed than has practice summer since his the a every higher connection been the with give road. The time is made so as to connections west passengers perfect running with his all road lines is well and south. He estimates that fitted for a speed of sixty miles an hour, with perfect safety to passengers and freight. The Lewiston Journal says The tide has turned very materially. Persons who had given notice at the Auburn Bank that they would withdraw their funds, are countermanding their orders. This is the manly course, who knows anything of the understands its complete Bank, now that everybody soundness. in Tues- all to day, notices of withdrawal amounting $10,000, were countermanded. It now seems that depositors mean to let their funds alone and draw their interest hereafter as usual. This returning wisdom will prevent the calling in of mortgages and the great pecuniary distress and business prostration which would inevitably follow the forcing of our Savings Banks into closing up affairs. There is now no run on any of our Savings Institutions. at in of Our correspondent Springvale, which speaking attendthe work of revival in that village, ed the labors of the State Canvassing Committee of the Y.M.C. Association. says A word in regard to the brethren of the Assocition who have been with us. We cannot speak


Article from Daily Kennebec Journal, May 12, 1876

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Article Text

The Lewiston Journal says: The tide has turned very materially. Persons who had given notice at the Auburn Bank that they would withdraw their funds, are countermanding their orders. This is the manly course, now that everybody who knows anything of the Bank, understands its complete soundness. Tuesday, notices of withdrawal amounting in all to $10,000, were countermanded. It now seems that depositors mean to let their funds alone and draw their interest hereafter as usual. This returning wisdom will prevent the calling in of mortgages and the great pecuniary distress and business prostration which would inevitably follow the forcing of our Savings Banks into closing up affairs. There is now no run on any of our Savings Institutions.