Auburn Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: December 31, 1896
Location: Auburn, Maine (44.098, -70.231)

Metadata

Model: gpt-5-mini
Short Digest: f0da48ba

Response Measures

None

Description

The articles describe long-running receivership proceedings for the Auburn Trust Company beginning with a court decree and appointment of a receiver in late 1896/early 1897 and continuing through 1902 (orders to file accounts, hearings). No bank run is described; the bank was placed in receivership and has not been operating since — consistent with a suspension followed by permanent closure/receivership. OCR errors in the article were corrected for names and dates (e.g., decree dated Dec. 28, 1896; receiver appointed Dec. 31, 1896; accounting returned Jan. 1, 1897; hearing Feb. 11, 1902).

Events (2)

1. December 31, 1896 Receivership

Newspaper Excerpt: a decree ... made December 28, 1896 ... appointing ... Linn Small, Receiver ... Jan. 1, A.D. 1897 ... returned an inventory March 31, A.D. 1897 ... appointed receiver ... to settle the affairs of said corporation and pay liabilities; that the receiver accepted and filed his bond ... returned an inventory ... and has paid dividends ... but assets are insufficient to satisfy all claims and liabilities. 1896-1897 references in article text used to establish appointment date range and actions of receiver during 1897-1901 and thereafter. (Excerpted and corrected from OCR.) Note: original text contains multiple OCR artifacts; corrected dates: decree Dec 28, 1896 and appointment Dec 31, 1896 / activities Jan 1, 1897 onward. appointing respondent ... Small, Receiver (article).
Source: newspapers

2. February 11, 1902 Other

Newspaper Excerpt: It is further ordered that a hearing ... Tuesday February 11, 1902 ... the Receiver Linn Small be ordered to file an account ... and attend ... (motion and order of court).
Source: newspapers

Newspaper Articles (1)

1. September 24, 1902 Daily Kennebec Journal Augusta, ME

Article from Daily Kennebec Journal, September 24, 1902

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Article Text

MANY MONTHS AGO Bank Examiner Tried to Get An Account from Receiver Small. An Earlier Chapter in History of Auburn Trust Co. Case. recent appointment of a new and reThe of the American Banking of L. ceiver Co., of Auburn, in place the posiTrust Small, who has occupied Linn for some time, under appointment the fact of tion late Justice Walton, recalls Timberthe in January last Hon. F. E. legal that bank examiner of Maine, took make an lake, to compel Mr. Small to of a steps The following is Timberlake, a copy accounting. equity, brought by Mr. trust combill as bank in examiner against the pany STATE OF MAINE. ANDROSCOGGIN.YAL ss. Court in Equity. ExaminSupreme E. Timberlake. Bank Trust er Fremont vs. American Banking and Company comes Fremont E. Timberlake, as he is NOW above named complainant. says that the origBank the petition Examiner, was and filed in the D. 1896 above and pro- a decree ceedings inal December of the 28, court A. made L. Decem- Linn ber formal 31, A.D. 1896, of said appointing respondent direction cor- of Small, Receiver with authority and to settle the said poration court said for said corporation, receiver and said pay and reaffairs its of liabilities; that trust the and filed his settle ceiver accepted faithful the said discharge of his bond for the 1, A. D. 1897 and of returned all of duties January an inventory March 31, A into said court of said corporation the origwas the receiver the D. assets 1897, and that taken on PRO petition CONFESSO finally June inal 1, A. bill D. 1897, fully and liquidate and settle that authorized affairs to of said corpora tion; by this hear commissioners all the and were allow appointed claims against 14, February court the corporation, to and issioners that made of final the A. D. 1898, said claims and liabilities that report of It all is further represented dividends to the said same. receiver follows has paid May 11. A. 17, D. A. 1898, D. creditors as per cent November and October twenty-five twent five per and cent. one-half per 22. 1899, A D. 1901 complainant twelve further liabilities says that to The of said to cent principal portion same was due the wit $45,453.19 said of the corporation; that weil the depositors in to said company. the as State charter granted statute laws of the instituas the general that if the assets to of satisfy these of claims the holders provide tion are not cred sufficient litors in full, that of the the same capito equal tal stock be liable and to an value assessment of said stock to creditors shall amount to the par in full; that this com- said statute pay such law also imposes and sponsibility upon of of the a plainant supervision the duty of such the affairs the to general receiver and require of his doings to promake annual Examiner reports that enacted all of for these the such purvisions Bank of protecting law were the depositors end that in their pose corporations of and to satisfied the in full as claims might consistent be with a reasonas is settlement of the affairs speedily prudent withstanding reably corporation that psed since this of said so five of the years have appoints inted elaps been the claims satisfied ex of creditors ceiver was have far as not above the stated, rece notwith- ever in to has standing cepting complaint the report shows of that the he still corporation purpose this his hands assets amount for that has been and sufficientithstanding in to enforce no effort the liability stockalready made on his stated part against the of records holders thereof. appears from receiver the has never this this It further court that account said of his doings thereof. in The has capacity settled any or of any that part said receiver now resides complainant from says the State and of this court the the enforced removed beyond the decrees jurisdiction and orders against of him afcourt where cannot through be the protection filed by him court capacity. except forded by the original for the bond faithful discharge the with of THEREFORE his the duties in said this petitioner moves for reasons herein set receiver forth, be ordered with this and That forthwith said complete to file account said of ca- all court directed a full and proceedings in present doings and due not ice. the settlepacity. his and after his vouchers for same. himself with of the court a full ment and allowance he return to this of all estate, notes. hat complete schedule mortgages. real corporation and in action. assets of said with a full cash choses and other in his hands. to their presnow remaining statement as a schedule and complete including ortgages therein and other ent location. real estate, which has been by trans- orof such the title to time to time of enassets ferred der of to the him court more from for the nveniently purpose handle and abling dispose him said to of the receiver same. after for settling the remain assets said That and accounting corporation reaccount, of the discharged and said and propert his hands. be acting in this suitable within ing lieved in from and further that some the other limits of the in appointed his stead to capacity jurisdiction person residing of finally this court settle be the affairs of AKE. TIMBERL the corporation. FREMONT E. Bank Examiner 0 Banking Department Jan. 31. A. D. 1902. STATE August OF MAINE. On the OGGIN Court ss February that 1. 1902 L. Receiver, Supreme ANDROS Judicial within notice forthwith ordered file an be account Linn Small. as prayed ordered for that a hearing of the on It is further the remaining at prayers Auburn in 1902 said at County. M. and o'clock A motion. had upon in Chambers. Tuesday that February the Receiver 11. be herefurther L. to him directed to attend. ordered Linn that notice Small, Re an attested letter of It be is given the to Clerk. said by motion mailing and L. order Linn by ceiver by copy of this addre Iressed to Mass. R. S. SAVAGE, J. Court Small. A true copy of Motion Justice and Order of Court thereon.