Article Text
The telegraphic reports state that the Norombega bank, Bangor, 18 in the hands of receivers. It is thought the bills will all be redeemed.
8647. Norombega Bank (Bangor, ME)
Bank Information
- Episode Type
- Suspension → Reopening
- Bank Type
- state
- Start Date
- December 30, 1859
- Location
- Bangor, Maine (44.801, -68.778)
Metadata
- Model
- gpt-5-mini
- Short Digest
46f1f357
Response Measures
None
Description
Norombega Bank (Bangor, ME) went into the hands of receivers in late Dec 1859 due to cashier/Treasurer Peck's fraudulent/unauthorized transactions (bank-specific adverse information). There is no mention of a depositor run. By Apr 1860 receivers reported favorable condition, a judge ordered receivers to pay over funds, and stockholders petitioned to resume operations — indicating the bank was moving toward reopening (treated here as suspension with reopening).
Events (5)
1.
December 30, 1859
Receivership
- Newspaper Excerpt
- The telegraphic reports state that the Norombega bank, Bangor, is in the hands of receivers. It is thought the bills will all be redeemed. ...The Norombega Bank was caused entirely by transactions of the cashier...the assets of the bank are said to be sufficient to redeem the bills. The suspension of which was announced last week. No other bank is affected. The Receivers of the Norombega Bank of Bangor, Me., have made an unexpectedly favorable report on its condition. The stockholders have petitioned the Court to allow the bank to resume operations. NOROMBEGA BANK. On the petition of the stockholders...Judge Appleton delivered an opinion...ordering them to pay over all moneys in their hands. The Report of the Directors shows that the Bank has in hand cash and available paper much beyond its liabilities. The bills will probably be redeemed in a short time. The Receivers...report...immediate assets amounting to $28,000...other good paper...about $140,000, while its liabilities are but little more than $100,000. The stockholders have petitioned the Court to allow the bank to resume operations. This long snippet collects multiple confirming excerpts describing receivership and later court action allowing resumption of payments, showing movement toward reopening.
- Source
- newspapers
2.
December 30, 1859
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Placed in receivership due to improper/unauthorized transactions by the cashier (Peck) and related deficits tied to Peck's misconduct and speculations; described as causing the suspension/failure of the bank's operations.
- Newspaper Excerpt
- The Norombega Bank of Bangor has gone into the hands of a Receiver.
- Source
- newspapers
3.
January 7, 1860
Other
- Newspaper Excerpt
- The astonishing revelation has been made in Maine that Benjamin D. Peck...is a defaulter...and he broke down, carrying with him the Norombega bank of Bangor, the suspension of which was announced last week. No other bank is affected. The State is secured from loss, however, both by Mr Peck's bondsmen and by the amount of property made over as security.
- Source
- newspapers
4.
April 20, 1860
Other
- Newspaper Excerpt
- On the petition of the stockholders of the Norombega Bank, Bangor, Judge Appleton delivered an opinion...ordering them to pay over all moneys in their hands. The Report of the Directors shows that the Bank has in hand cash and available paper much beyond its liabilities. The bills will probably be redeemed in a short time.
- Source
- newspapers
5.
April 24, 1860
Other
- Newspaper Excerpt
- The Receivers of the Norombega Bank of Bangor, Me., have made an unexpectedly favorable report on its condition...immediate assets amounting to $28,000...other good paper...about $140,000, while its liabilities are but little more than $100,000. The stockholders have petitioned the Court to allow the bank to resume operations.
- Source
- newspapers
Newspaper Articles (12)
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58,125 00 Dividend, 24 cent $3,011 72 Balance to new account The Company have relaid 33 miles of road during the past year, bought new equipage, &c., at an expenditure of $53,000, all of which has been charged to operating expenses. This is equal to another dividend of 21 ₽ cent. The interest coupons on the 3d mortgage and bonds of 1879, of the Harlem Rsilroad, will be paid on the 3d of January at the office of the Company, Fourth avenue and Twenty-sixth street. The interest on the bonds of Kansas will be paid ou the 20th January at the office of Measrs. Ward, No. 39 Exchange place. The Hanover Bank has declared a semi-annual dividend of 34 ₽ cent, payable on the 9th of January, The Cbatham Bank a semi-annual dividend of 31 ₽ cent, payable Jan. 16. The Manhattan Savings Iastitution has declared a semi-annne? dividend at the rate of 6 P cent Dan annum on $500 and under, and at the rate of ₽ cent on larger sums. The Treasurer of the City of Brooklyn gives notice that the bonds of 1845 for $30,000, and of 1850 for $75,000, and all coupons of the city debt due on the 1st of January, will be paid on presentation at the Long Island Bank, on and after the 3d of January. The Etna Insurance Company of Hartford has declared a stock dividend of 50 ₽ cent, and will probably declare a cash dividend in January of 40 ₽ cent. The capital is now $1,500,000, and it has a reinsurance fund of $500,000. The Traders' Bank of Bangor, Me., is thrown out today. The Norombega Bank of Bangor has gone into the hands of a Receiver. The Bank Commissioners think the circulation will be paid. The loan of $900,000 of the Hannibal and St. Joseph Railroad Company was awarded, Dec. 28, at prices ranging from 50@58 ₽ cent. They were taken by a few parties, friends of road. It appears that the Secretary of the Treasury, after advertising for bids for three millions of Treasury Notes, has awarded about four and a half millions. He has awarded 75 ₽ cent on the 6 ₽ cent bids, instead of 51 ₽ cent. This is a financial dodge quite worthy of the gentleman from Georgia, and is one of a series of financial mistakee, not to characterize them by a harsher name, which has marked his administration of the Treasury Department. The annexed dispatch announces the intention of the Secretary: WASHINGTON. Dec. 29, 1859. READ, DREXEL & Co., New York: Upon your bid for one million, the department awards $750,000, having the power to exceed the amount advertised for. you do not want your proportion of this excess, you need not take HOWELL COBB, Sec. of Treasury. The demand for these notes is fair at about 1/8 ₽ cent premium, and Messrs. Reed & Co. have disposed of all the amount awarded them. Another blunder of Mr. Cobb has just culminated. In advertising the 1874 loan the Secretary stated that the deposita for the loan could be made in any Sub-Treasury which should be indicated as most convenient to the bidder. Under this advertisement Mesers. Sweeny, Rittenhouse, Faut & Co. of Washington bid for a large amount, and indicated San Francisco as the place of deposit. Mr. Cobb refused to receive the money there. Messrs. Faut & Co., after making a portion of their deposit declined to go on, appealed to the President to direct the Secretary of the Treasury to receive the remaining installments at San Francisco, and failing in this, will go before Congress with a demand for damages. Mr. Cobb has now advertised for proposals to be received until the 31st of January, for $1,110,000 5 ₽ cent bonds, unisened to Messrs. Faut & Co., upon which, however, they have made 1 P cent deposit, which probably he will forfeit. Measts. Raynor & Blackwell have sold 1 full lot on the south side of 39th-st., about 350 feet east of 6th-av., for $7,800, with a building loan of $5,000: a 4-story brown-stone house is to be erected upon said lot. Also, 2 lote south side of 52d-st., 165 feet east of 4th-av., full in size, at $1,800 P lot. We report the sale of 4 lots south-east corner 5th-av. and 100th-st., and 1 in the rear, south side of 100th-st.--the otasold for $16,000. John McClave has sold 1 3-story and basement dwel ling on south side of 36th-st., about midway of the block between 7th and 8th-avs., for $6,600. Also, 1 lot on south side of 143d-at., 300 feet west of 8th-av., for $350. E. H. Ludlow & Co. sold 2 lots on 55th-st., with 2 on rear on 56th-st., each 25x100, $3,250 each, $13,000. The condition of the banks of the four leading cities of the Union, according to their latest statements at hand, is as follows:
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The Bangor Banks. BANGOR, Dec. 31. It is understood here that certain interested parties are determined to bring the Bangor banks into disrepute for purposes of speculation. The banks here were never on a better footing than at present, and there are no grounds for fears that the bills are not good. They are all abundantly able and ready to redeem their circulation, except the Norombega, which is in the hands of the receivers. The trouble with the Norombega Bank was caused entirely by transactions of the cashier, unknown to the president and cirectors, but the assets of the bank are said to be sufficient to redeem the bills.
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The Bangor Banks. BANGOR, Saturday, Dec. 31, 1859. It is understood here that certain interested parties are determined to bring Bangor banks into disrepute for purposes of speculation. The banks were never on a better footing than at present, and there are no grounds for fears that the bills are not perfectly good. They are all abundantly able and ready to redeem their circulation, except the Norombega, which is in the hands of receivers. The trouble with the Norombega Bank was caused entirely by transactions of the Cashier, unknown to the President and Directors, bu the assets of the bank are said to be sufficient to redeem the bills.
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LATEST NEWS. TELEGRAMS. Observance of New Year's Day. WASHINGTON, Jan. 2.-The President's House to-day, as heretofore on the opening of the new year, was the scene of an agreeable excitement.The Foreign Ministers, Judges of the Supreme and Circuit Courts, and the Officers of the Army and Navy, first paid their respects to the President, and then the doors were thrown open to the public who quickly thronged the apartment, exchanging the usual greetings of the season to their friends and paying their respects to the President. A band of music added spirit to the occasion. PHILADELPHIA, Jan. 2.-To-day has been quite a holiday here. Very little business has been transacted except in a retail way, and there is a general dearth of news. NEW YORK, Jan. 2.- Wehave had a splendid day for the observance of the usual New Year's day festivities. No business has been done, and all classes of our citizens have been devoting the day to social enjoyment. All our newspapers have suspended until to-morrow afternoon and Wednesday morning. The Bangor Banks. BANGOR, Dec. 31.-1t is understood here that certain interested parties are determined to bring Bangor banks into disrepute for purposes of speculation. The banks were never on a better footing than at present, and there are no grounds for fears that the bills are not perfectly good. They all are abundantly able and ready to redeem their circulation, except the Norombega, which is in the hands of receivers. The trouble with the Norombega Bank was caused entirely by transactions of the Cashier, unknown to the President and Directors, but the assets of the bank are said to be sufficient to redeem the bills.
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BANGOR BANKS. The Norombega Bank is in the hands of receivers. The trouble it is said was caused by the loaning of an amount of money on memorandum checks, without the knowledge of the officers. The Courier thinks the bill-holders will not suffer. It also contradicts the malicious reports prejudicial to the other banks in that city,
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THE MAINE STATE TREASURER A DEFAULTER.-The astonishing revelation has been made in Maine that Benjamin D. Peck of Portland, for several years past treasurer of the State, is a defaulter to an amount ranging from $175,000 to $100,000. Rumors to that effect within the past week were but too faithfully verified by the governor and council, on Tuesday, in their publication of an announcement virtually suspending him from office. Mr Peck, who before taking office had been the editor of the Temperance Journal at Portland, had since his election been engaged with others in extensive lumbering operations, having a saw-mill in Canada, and using the funds of the State to sustain himself. His speculations were disastrous and he broke down, carrying with him the Norombega bank of Bangor, the suspension of which was announced last week. No other bank is affected. The State is secured from loss, however, both by Mr Peck's bondsmen and by the amount of property made over as security.
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The Legislature. AUGUSTA, Jan. 28, 1860, The contested election case from Frankfort, was before the committes when I last wrote. The case developed a state of facts which put "Wallagrass" and "Kickapoo" in the shade. But failing to accomplish their object at the polls, the opposition appeared before the Legislature, to consummate their villainy. But the report of the committee sustains the sitting member, and will undoubtedly be almost unanimously sustained by the House. In the case of North Ilaven, &c, the committee unanimously decided to give the sitting member his seat, and the flouse unanimously adopted their report. Wednesday of next week is assigned by the House for the consideration of the Bridgton case, and the one from Frankfort will follow immediately. The committee on banks and banking had a hearing of two days, upon the petition of the stockholders of the Norombega Bank, to have their assets taken from the hands of the receivers, and placed in some of the Banks in Bangor, for the immediate redemption of their bills, and the payment of depositors. Their liabilities, as shown. amounted to $100,000. To meet this, they showed available means, amounting to $101,000, and are willing to give a sufficient bond for $200,000 more, to the acceptance of the Legislature, if they can be permitted to close up their own concerns. They feel assured if they can have this privilege, that they can immediately pay off their liabilities, and sare to themselves 75 per cent of their capital stock. The committee reported a bili to the House to-day, in necordance with their prayer. An interesting and exciting debate ocenrred in the louse, upon a bill reported by the Judiciary committee, changing the value of horses exempted from attachment and execution, from $100 to $250. Mr. Thomas, of Newburg, inoved to strike out $250 and insert 150, which brought out Mr. MeCrillis, of Bangor, in a truly eloquent and patriotic speech against the amendment, and in favor of the bill. He was answered very successfully, in an able, candid argument, by Mr. Stone, of Kennebunk, and Dr Benson, of Newport. The amendment was adopted, and the bill passed to be engrossed. Another interesting debate sprung up on the bill reported by the Judiciary committee, exempting the wages of individuals, to the amount of twenty dollars, which was amended on motion of Dr. Ludwig, of Thomaston, exempting but ten dollars from trustee process. Mr. McCrillis moved the indefinite postponement of the bill, and made an eloquent appeal to the flouse, which called out the friends of the bill to its rescue. This called out Mr. Woodbury, of Sweden, who very briefly commented upon the inconsistency of some members, upon this matter of exemption. Yesterday they were willing to exempt horses to any amount. To day, they would take the bread from the mouths of those who were truly needy and deserving. Yesterday they had great sympathy for the man that could not keep a horse of the value of 8250 exempt from attachment and execution. To day, they would wrest the merest pittance from the unfortunate widow, and fatherless children, or the more unfortunate woman, who has a drunken, worthless husband. He was for meteing out equal justice in these matters. Yesterday he voted against the exemption of $250 in horses, and for the amendment, 150. To-day, justice and humanity demanded action at our hands, not in the shape of fast horses, but in the exemption from distress of the labor of the unfortunate. He said he had a voice to respond, a heart to feel, and a hand to extend. and he cheerfully threw himself upon the indulgence of the House, in their behalf- The bill was indefinitely postponed, and the law remains unchanged, exempting one month's wages from trustee process. February 1st. Several bills have already passed to be enacted and received the signature of the Governor. Among which, is an act authorizing James Brophy to extend a wharf into Castine harbor. An act to make vallid the doings of the town of Sweden in determining the number and limits of school districts therein. An act to provide for an additional term of the Court of County Commissioners in Waldo County. An act amendatory of an act requiring notice upon petitions to the Legislature. An act additional to the Female Orphan Asylum; additional to the coast survey; additional to the Portland Fire Insurance Company; also four resolves have passed finally, in relation to our Indian tribes. An net authorizing the city of Hallowell and the town of Chelsea to loan their credit for the liquidation of a debts incurred in building a bridge across the Kenneboe river at Hallowell, has been under discussion for two days, in which several of the best debators in the House participated. The constitutional question was raised, whether a majority could bind a minority in sueli cases. The bill was very ably delended by Mesers. Blaine of Augusta, and MeCrillis of Bangor, in which they contended that in ordinary cases a majority in towns could raise money, and appropriate it to the building of roads and bridges therein. But in this instance, the bridge crossing tide water, it became necessary to obtain a charter from the Legislature; and now they ask for power to loan the credit of the city, if the inhabitants so decide by a majority vote They showed a marked distinction betwixt this case, and that of a town loaning its credit to build a railroad. On the other haud, Dr. Wells of Freeport, and Mr. Stone of Kennebunk, viewed the matter of doubtful constitutionality and thought at least two-thirds of the legal voters should assent to the provisions of the bill before it went into operation. Dr Wella laid dowr
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private means; so there would have been no loss to the State or to my bondmen. The second year I pursued pretty much the same course, loaning money to some of my bondsmen and others, and I have to say that all these gentlemen paid me with the exception of the individual mentioned above as owing me at the end of the first year. This man was able as I now regret to be obliged to say, not only to keep back what he owed me at the end of the first year, but by working upon my credulity or good nature, or whatever you please to call it, to get a much larger sum out of me which he still owes. Whether there was any design on his part to defraud me or the State I leave you to judge. All the facts connected with this particular transaction I can lay before you if you desire it. At the end of the second year I was short some $20,000 which I made good by discounts at the banks, which I carried over, so that the Committee appointed to settle with the Treasurer, found my accounts correct on the books and sufficient vouchers for all the State funds on or at the close of buisness, Dec. 31st, 1858. I mention the fact that I was accustomed to loan the State funds to some of my bondsmen and others, not for the purpose of criminating others, but simply to show that what I was doing with the public funds, was not wholly unknown to parties who had a deep interest in the safety of these moneys, and also to show that others were willing to run risks as well as myself, and that this matter between myself and some of my bondsmen has more of a business aspect, of venture, of loss and profit, then is generally supposed. I now come to the Canada speculation, in which I was unfortunately engaged. I became a partner in this business in July, 1858; and my associates are all of them gentlemen in high social and political standing in this State. The purchase of the timber limits, 266 square miles of territory with the mill, booms, etc., was made of one Edward Scallan for $20,000 bonus-five thousand dollars down, which payment was made out of my own private funds. For this I was to be reimbursed at an early day, with interest; so that, in fact, a very small sum would be necessary to meet my liabilities. By papers which I herewith present, you will see what a flattering exhibit was presented of speedy receipts and large profits, by men whom I supposed then, and now suppose, were competent to judge, and to know whereof they affirmed. These receipts and these profits have not been realized; hence I am before you to-day in the humiliating position in which I find myself. It has been said-indeed the public mind is very generally entertaining the belief, that I have been brought into this ruinous speculation by my partners, who care not for me, nor for the loss which my bondsmen and the State may suffer on my account. I wish only to state the precise truth in this connection, and leave you and the public to judge how that may be. In the first place then, I did not, and I am confident my partners did not enter upon this enterprise with the intention of taking a single dollar from the Treasury to carry it on. This enterprise was carried on mainly by funds raised upon notes of my own, and notes furnished me by my associates which my credit and my position enabled me to use. I found no difficulty, generally, in raising money at the Banks where I kept my deposits, even upon notes that were of a doubtful character. I do not say that I did not at any time take money from the Treasury and employ it in this Canada operation because that would not be true. I did it frequently, but always sought to replace it by the discounting of notes, and by placing the proceeds of these notes to my credit as Treasurer. I have used notes at the different Banks to a very large amount; and I have also used my checks on time with individuals and with the Banks to a large amount. The shrewdest financial men in the State, or those who are esteemed such, connected with Banks and outside, have been ready to take these checks-indeed have been greedy for them. I repeat here that I did not commence this enterprise with the deliberate intention of taking a single dollar from the Treasury in carrying it on. I had no doubt at the start that I could with my private means and my credit carry forward my part of the work and furnish my part of the money without trouble; and I know now that I could have done it with perfect ease. It was represented to me, as you will see by papers herewith presented, that the whole enterprise would cost but $40,000; that this sum would readily be provided for by early receipts from the lumber; and that there would be a large profit left after paying for the operation in the woods and the cost of the mill, etc. The mill, booms, etc., as you will see, were to cost $20,000 by our books; and by a statement from our agent they have cost, as I learn, $35,000. The whole operation was to cost $40,000; it has cost between $70,000 and $80,000. The mill was to start in July, sure; and five millions of lumber was to be got to market. The mill did not start till October, and no lumber has been sold. My arrangements to raise money were all made in the early part of the season upon the supposition and belief that the mill would start in July, and that before January, 1860, I should be in the receipt of $60,000 or $70,000. Accordingly notes and checks to nearly this amount, from time to time, were used; and much of this paper matured and had to be met in November and December. I was struggling to renew this large amount of paper to save myself, my bondsmen, and the State, when the Norombega Bank failed and the crash came. At the commencement of this enterprise, some of my associates agreed to furnish money or its equivalent in aid of the operation. Some of them have furnished notes and securities, but none of them have furnished money. I do not say that any one of the men associated with me in this business advised me to use in any one instance the State funds in the enterprise. They did not. Whether they knew that I was doing it or not you can judge. Some of them have rendered me very essential aid in raising money on notes and checks; and all of them have seemed desirous to help me in every way. It is in your power to send for persons and papers, and to unravel this matter further if you choose, though I believe I have given you here all the material facts. In this expose I have shown you where the bulk of my State deficit has gone to. There are some outside debts of mine, and some parties who owe me small sums which now consider them as wholly private transactions. There is also some money that has gone for interest, cost of travel, etc., of which I can now make no report. When I have had time to gather up my scattered papers and memoranda, and to unravel some of my affairs, I may be able to tell more of my finan-
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the been have agent in com tionable F. Leavitt, who also many of the objecthe with check Peck's taking the him for on therefor Norombegn The was their $6000, giving check until to take Suffolk Bank and holding the up. This discount, not was money it suited his not books as such. as the transaction was carried to the cash, and the knowl. cashand The check that was taken of the directors, paid but no edge ier alleges and assent of their of some meetingsonsideration Peck Short- benot at one this $6000, the the bank. cashed interest the deposit on he he kept had in check this of $10,000 amount This interest. be to and ing ly after. in however, the same way, was and to on be paid held the the apand directors same he paid way the other the transaction was, had the one tes- of the same way several of the according to checks proval indeed of objecting, Besides these authority of them timony of Mr. Smith. cashed by that the he gave bank Mr. Smith allege4 of the the so bank, Mr. 987000 or 48000 of 1859 without of the and directors, Peck funds some during the whatever summer on the part entry of bank book any knowledge without Peek any gave Peck his not the fact to on Smith. the and Norombega the-latter bills and checks checks agreed to take back the until October he paid the ve- of let them come that as the Mr. Smith which grew he latter. Peck had It the appears directors approached regard to the money The Mutual deposits medients, ry uneasy secretly in loaned to at the Bank of succeeded however, Redemption by and other and Mr. Smith from as the merit criti saving himself game began on in ed exposure. As the advanced criminal money to his own cal day and was Mr. passed, Smith until. of according them on to In regard these afresh, urious account, securities he had the $16,300 parties egotiating hand. Smith says: me with negotiate 1859. 1, Mr them, Mr. did not previously to rest. Dec. D. that Leavitt derstood agent. all the checks F Leavitt took intiated acting the as Peck to been entrusted Mr. seems Leavitt batch by Peck As to be used required. in his testMr. this point, imony up blew fter Re the for Mr reasons Smith checks failed, of their Monday Smith these After $50 which has been money to In the thus checks addition by Smith the Peek President Schwartz, obtained in of of time checks the bank, discount to This trans$5000. amounting December, the to action approval understood of and the checks, $1,500. the amount, and 1,5000. the on secmade payable thus of January of the treasond. were fifth. to and be sixth provided for year, should of them. Mr obviously ury funds of the in retaining present his control Peck was but not Peck succeed thus advanced to of the bank. hand. The money of the loan cash on to entered as part as according checks were December, the presithe the 22d of Mr. Schwartz, for another On testimony of came to Bangor positive asdent, the Mr. Peck him the most and promised in loan. He gave his re-election better deposit surances the next of year to than keep he a had could previously not the for Norombega Schwartz, however loan to Peck, Mr. fresh prevailed done. be induced to grant conference, a him was for $12,000, check but after farther checks with wanted the exchange that he his check on Peck telling him Schwariz gave Peck gave fer one day only. that amount, and the same sum. with Peck for check for the cashier Schwartz to his proceeded to amount passed for certificate Peck at once check; had the of deposit then to his credit and a with the deposite him by the in the same, together was at once day given Schwartz put which was he in his favor, Later in the $12,000 with was cashier. and the hours before was gainst again charged to the nor loser gainer Peck's credited check, a few him. The bank value neither of dea had deal great posit which the at time was thus of a cent, but made Peck him appear a treasury office com- in insaction over better for the this talked it of Augusta. After and Smith the admission by pleted, Schwartz according to to be used and agreed certificate was good at the both, that making the his evidence, however, had any Peck "in is no Schwartz treasury. There that Mr. Peck's real situameditat going ledge to show whatever of being any party He tion, know or that he which was thus without apparently the fraud arrang scope, and all he were fears quieted. to assented to the ehending its real says, by Smit in both rehim deceived The transac Peck his who extematically and the bank. too culpable to ad to the gard however, to in itselfis or extenuations exhibited Committee tion, mit of any apology of the bank, reveal other serious discreps the on of part The books by the Receivers, any of intent honest the on For example, a bal show to presumption Peck or November, the cashier. the books Peck, and carry 16th of of 93545.07 against a new page he intervening is credit on been ing ance the account without any from debtor Dec. to ed with 93669.22 which the change based. On intervening entries creditor could credits have and debits to have where- been 24th, some there appears $3174,68, honest last date, credit of subtraction, he indebted from balance to his addition and to the bank in of 4039,71, as, by at that account date in the claim sum from him. his regular the Recehorefore. Receivers now clearly exhibit the is There These which entries, bank of $7214,39. between on to the fraud upon some the discrepancy the one hand gross and tements of Smith on the other, in as the bank, up- but amount of have the Receivers Peck's checks not felt settlement called arbitrate, this the Committee inasmuch as the
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NOROMBEGA BANK. On the petition of the stockholders of the Nrombega Bank, Bangor. Judge Appleton delivered an opinion, Saturday, against the receivers : and ordering them to pay over all moneys in their hands. The Report of the Directors shows that the Bank has in hand cash and available paper much beyond its liabilities. The bills will probably be redeemed in a short time. The decision of Judge Appleton 18 said to be satisfactory to the citizens of Bangor.
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The Receivers of the Norombega Bank of Bingor, Me., have made on unexpectedly favorable report on its condition. There is no * in cash in the bank, $80,000, immediate assets amounting to $28,000, and other good paper, amounting in all to about $140,000, while its liabilities are but listle more than $100,000. Tae stockholders have petitioned the Court to allow the bank to resume operations. Thompson's Bank Note Reporter says: "The Lew movement in Coogress on the Home. stead bil, has further d scouraged purchasers of Land Warrants, and we lower quotations. The supply continues to exceed the demand-in fact, there LB no demand for Warrants." The Bank Statement of weekly averages is looked upon as favorable, the expansion of loans having been checked, while the loss in the specie item is quite smod. erate in the face of a California receipt near at hund. The contraction of loans is, no doubt, to some extent, involuntary as some of the banks have been unable to find full employment for their receipts. The domestic drain of specie has not been large during the week, and the balance of trade with Philadelphia is now in our favor. The deposit line shows a large decline, but not much larger than the contraction of loans and loes of specie would indicate. The follo wing is a statement of the condition of the Banks of the City of New-York: