Mechanics Savings Bank

Bank Information

Episode Type: Run Only
Bank Type: savings bank
Start Date: January 18, 1893
Location: Auburn, Maine (44.098, -70.231)

Metadata

Model: gpt-5-mini
Short Digest: d077d2ab

Response Measures

Books examined

Other: Trustees filed petition with the Supreme Court representing the bank insolvent and asking for an examination.

Description

Article (Portland Daily Press, Jan 19, 1893) reports a run after the bank passed its dividend and trustees filed a petition saying the bank is insolvent and asking for examination. The piece does not explicitly state the bank suspended payments or that a receiver was appointed, so I classify as run_only while noting the insolvency petition.

Events (2)

1. January 18, 1893 Other

Newspaper Excerpt: The trustees of the Mechanics Savings bank of Auburn have filed with the Supreme Court a petition representing that the bank is insolvent, and asking that a time for examination of the affairs be appointed and further action taken.
Source: newspapers

2. January 18, 1893 Run

Cause: Bank Specific Adverse Info
Cause Details: Bank passed its dividend; this action precipitated a run and revealed insolvency concerns.
Newspaper Excerpt: the bank passed its dividend, which occasioned a run and consequent embarassment.
Source: newspapers

Newspaper Articles (1)

1. January 19, 1893 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, January 19, 1893

Click image to open full size in new tab

Article Text

AN INSOLVENT BANK. Mechanic Savings Bank of Auburn in Trouble. AUBURN, January 18.-The trustees of the Mechanics Savings bank of Auburn have filed with the Supreme Court a petition representing that the bank is insolvent, and asking that a time for examination of the affairs be appointed and further action taken. The bank passed its dividend, which occasioned a run and consequent embarassment.