Article Text
The Citizens Bank was chartered, January 6, 1833, with a capital of $60,000. The corporation was organized February 6, at\Brown's hotel upon the call of John Dole, John Potter and James L. Child. The three named gentlemen with Reuel Williams, H. W. Fuller, Greenleif White and Allen Lambard were chosen the directors. John Dole was elected president, and Asa Redington, Jr., cashier. In October following they were succeeded by Reuel Williams, president, and Carleton Dole, cashier. The bank went into operation June in a brick building at the corner of Oak and Water streets. The building was erected by the bank, which occupied the rear rooms in the second story. The safe used at the time was a large wooden affair covered with sheet iron, studded with large knob-headed nails which were the only kind then in use. The street floor in the building was occupied by Benjamin Swan, jeweler, and G. G. Wilder for dry goods; the third story for the Kennebec Journal office. The bank continued in operation until 1841 when the stock was sold to a company that contemplated operations in a distant western state. Langdon, one of the purchasers, became the president, and Philip C. Johnson, the cashier. Suspicion was excited that the new owners meditated illegal actions under their charter and the affairs of the bank were wound up the same year by Silas Leonard and Daniel Pike, who were appointed receivers.