Traders 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: d15d1a95

Response Measures

None

Description

The Dec. 30, 1859 Tribune line states The Traders' Bank of Bangor, Me., is thrown out today. That phrase indicates the bank suspended (stopped payments) on that date. No mention of a run or of a permanent failure; the article notes bank commissioners think the circulation will be paid, suggesting a temporary suspension and likely resumption. Cause is not given in the article.

Events (1)

1. December 30, 1859 Suspension

Cause Details: Article gives no reason for the suspension; simply reports the bank was thrown out (suspended).
Newspaper Excerpt: The Traders' Bank of Bangor, Me., is thrown out today.
Source: newspapers

Newspaper Articles (1)

1. December 30, 1859 New-York Daily Tribune New York, NY

Article from New-York Daily Tribune, December 30, 1859

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Article Text

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: