Traders National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 1095
Charter Number: 1095
Start Date: January 15, 1879
Location: Bangor, Maine (44.801, -68.778)

Metadata

Model: gpt-5-mini
Short Digest: 0177b920

Response Measures

None

Description

Newspapers report the stockholders voted to close the Traders' National Bank (Jan 15, 1879) and later (Aug 5, 1879) that remaining assets were sold and the bank would close up affairs. No run or suspension due to panic is described — this is a voluntary closing by stockholders (voluntary liquidation).

Events (4)

1. May 1, 1865 Chartered

Source: historical_nic

2. January 14, 1879 Voluntary Liquidation

Source: historical_nic

3. January 15, 1879 Suspension

Cause: Voluntary Liquidation
Cause Details: Stockholders voted at the annual meeting to close the business (voluntary winding up).
Newspaper Excerpt: BANGOR, Me., Jan. 15.-The stockholders of the Traders' National bank have voted to close business.
Source: newspapers

4. August 5, 1879 Other

Newspaper Excerpt: The Traders National Bank sold its remaining assets at auction today and will immediately close up its affairs.
Source: newspapers

Newspaper Articles (5)

1. January 15, 1879 Daily Kennebec Journal Augusta, ME

Article from Daily Kennebec Journal, January 15, 1879

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Article Text

Machias, January 14. In court, this forenoon, in the case of Sawver vs. Portland, Bangor and Machias Steamboat Company, the jury gave a verdict for the defendant. Damaged by Fire. BIDDEFORD, January 13. About 2 o'elock Tuesday morning, Mr. Foss, clerk of the Biddeford House, discovered fire in room No. 220, occupied by Mr. Howe, of the firm of Howe, Hilton & Co., Portland. The fire spread rapidly, but was finally controlled and confined to one section of the house. The damage to building and contents was about 81200. Cause of the fire was over-heating the room by a wood stove, setting fire to the wood work round the chimney. The stock of boots and shoes owded by Mr. Gove, in the store under the hotel, was damaged by water. All are fully insured. Wreck of a Maine Ship. A despatch from Milford Haven, South Wales, states that the American ship Thomas M. Reed, Capt. Small, from San Francisco for Liverpool, went ashore on the breakers in fresh water, near Lynnshead, Monday. The sea was running very high, and although the rocket apparatus was soon on the spot, great difficulty was experienced in getting a line on board. By means of a line, twenty of the crew were saved. Three men were washed overboard and drowned. Lloyds' agent proceeded to the wreck, and ts saving all the cargo that comes ashore. mainly boxes of canned meat and fish. The sands, for more than a mile, are strewn with the cargo and broken spars. The ship is a total wreck. The Tomas M. Reed left San Francisco, Sept. 25th, and made the voyage in safety to within about ten miles of her destination. She was built at Bath, Me., in 1877, where she was owned, and registered 1507 tons. Death. BANGOR, January 14. Mrs. Galivan, who was badly burned recently by her clothes taking fire from a stove, died from the effects of her wounds, to-day. Close of a National Bank. At the annual meeting of the stockholders of the Traders National Bank, held to-day, it was voted to close the business. The bank was incorporated in 1853, and re-organized in 1865. Mr. E. Trask has faithfully performed the duties of cashier during the twenty-five years of its ebistence.

2. January 15, 1879 Daily Press and Dakotaian Yankton, SD

Article from Daily Press and Dakotaian, January 15, 1879

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TELEGRAPHIC BREVITIES. RESUMED WORK. Wilkesbarre, Pa., Jan. 15.-Parish & Co's. striking miners have resumed work at ten per cent reduction of wages. The Plymouth division miners will resume to-morrow. The reduction lasts till the first of April. MONTANA LEGISLATURE. Helena, Jan. 15.-The territorial legislature organized yesterday with Mithcbel president of the council and Ford speaker of the house. The governor in his message says that he has a proposition from a Itsponsible party to take the entire bonded debt of the territory, seventy-four thous. and dollars, now drawing ten per cent. at six per cent. free from taxation, or 8 per cent. if taxed. Owing to the insufficient congressional appropriation to pay the expenses of the legislature, a concurruent resolution was introduced in the house to adjourn on the 18th of January without day. The resolution was made a special order for ten a. m. 10-day. Wednesday. FAILED. New York, Jan. 15-M. L. B. Martin, 58 Exchange Place, has notified the stock exchange of his inability to fulfill contracts and his suspension has been announced. Martin was a promineut operator and his failure is due t the sharp rise in coal shares of which be was largely stort THE MOVING ICE. Louisville, Ky., Jan. 13.-The ice broke early this morning and has moved all day. A number of barges have been swept away and a ferry boat was carried against a pier of the bridge. TO BE CLOSED. Bangor, Me. Jan. 15.-The stockholders of the Traders national bank have voted to close business.

3. January 16, 1879 Daily Globe Saint Paul, MN

Article from Daily Globe, January 16, 1879

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Gone to the Wall. NEW YORK, Jan. 15.-M. L. B. Martin, 58 Exchange Place, has notified the stock exchange of his inability to fulfill contracts, and his suspension has been announced. Martin was a prominent operator. His failure is due partly to the rise in coal shares, of which he was largely short. A good deal of Delaware, Lackawanna & Western was bought in under the rule for his account. BANGOR, Me., Jan. 15.-The stockholders of the Traders' National bank have voted to close business.

4. January 16, 1879 Chicago Daily Tribune Chicago, IL

Article from Chicago Daily Tribune, January 16, 1879

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FINANCIAL. Apecial Dispatch to The Tribuna. BOSCOREL, Wis., Jan. 15.-Quite a sensation was created this eventing in the city when the aunouncement was made of the changes in officers of the First National Bank. There have been rumors afloat for some weeks that there would be a change, but not generally believed. The Hou. Benjamin M. Coates, one of the oldeat, wealthlest, and most influential citizens, was elected President. Ile has bad much experience In the banking business, having been for some years the President of this same bank, and the news of his election was received with great pleasure. The Hon. Richard Moyer was elected Cashier, vice M. D. Tillotson. Mr. M. has been a banker In Laneaster. Wis., for maby years; he is a inan of the highest business integrity, a very popular gentleman, careful financler, and one who will make friends for the bank. Ills election was balled with delight. Mr. Dwight T. Parker, was elected Vice-Preatdent. He is a young gentleman only 23 years of age, but has shown himself one of the bees business men In the county, and quite wealthy. New YORK, Jan. 15.-M. L. B. Martin, 58 Exchange place; has notified the Stock Exchange of his inability to fuldill lite contracts, and lile suspension has been aunounced. Martin was a prominent operator. Ills failure 14 due to the sharp rise in coal shares, of which he was largely short. A good deal of Delaware, Lackawanna it Western Wai bought tu under the rule for his account. Special Dispatch to The Tribune. LANSING, Mich., Jan. 15.-George W. Frary, a leading bat and cap man of this place, made. an assignment to-day for the benefit of bis credItors. BANGOR, Me., Jan. 15-The stockholders of the Traders' National Bank have voted to close business. EURAULA, Ala., Jan. 15.-The People's Bank has suspended. SAN FRANCISCO, Jan. 15.-The bucket shops of Bernard, Lande & Co. and Stedinan & Co. have suspended and gone into the hands of the Sheriff, who found no assets, although a good deal of money was taken in by both up to withto an hour or two of suspension. The recent rise In the market caused a collapse in Bacramento to-day. Special Dispatch to The Tribuna. BELOIT, Wis., Jan. 15-The Citizens' National Bank of Beloit has just been organized here, with a capital of $50,000. The officers Mrs: President, II. P. Taylor; Vice-President, John R. Relgart; Cashier, W. H. Baumes; Directors, B. T. Merrill, A. B. Carpenter, J. R. Reigart, 11. P. Taylor, C. B. Salmon, and W. H. Baumes. Nr. Taylor comes here from Chicago and invests capital to nearly the amount of the bank's capital stock. The Vice-President, Mr. Reigart, is one of our well-known, reliable, and wealthy citizens, and Mr. Baumes, for several years of the firm of Carpenter & Baumes, leading drygoods merchauts of Belon, has simple capital and good financial ability. The other stockholders are among our must substantial busimess-men. NEW ORLEANS, Jan. 15.-A Hazleburst (Miss.) special reports the failure of B. Daniel & Co. Liabilities, $70,000.

5. August 6, 1879 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, August 6, 1879

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BY TELEGRAPH. MAINE. Sagadahoc County Greenback Convention. [Special Despatch to the Press.] BATH, Aug. 5.-The Verdant Vertebrates of Sagadahoc county met in convention at City Hall this morning for the purpose of nominating a county ticket. A more seedy lot of political hacks never before gathered in this city at any political convention. The delegates numbered 56. The Georgetown and Arrowsic delegates broke down on the way and did not arrive at the opening of the session. General Barker of the Commercial was general manager and modestly said he did not expect to carry the state or Senate. He wouldn't be surprised, however, if the boys did astonishing things. Your reporter in circulating about the crowd (fifty men were present at the morning session) was astonished at the ignorance shown of the financial situation by the delegates in private conversation, one with another. They talked glibly about bondholders and thieves, however. One delegate (overcome by the heat) went to sleep while a comrade was discussing Sherman's speech. The peanut vender down stairs did a lively business during the recesses of the convention. The convention temporarily organized with the choice of George M Hagar of Richmond chairman, Henry R. True of Richmond secretary. This organization on motion of Mr. Barker was made permanent. The nominations were: Senator-Fen G. Barker, Bath. County Commissioner-Gilbert M. Gowell, Bowdoin. County Treasurer-Lauriston T. Purrington, Bowdoinham. County Attorney-John Donovan, Bath. A county committee of one from each town was chosen. There was a speech by E. R. Pierce of Augusta, editor of the National Tribune. His remarks were perhaps intended to be jocose. If he meant them to be serious his audience must have had a poor idea of his intelligence. He said that not sufficient money was in circulation (great applause); that the banks were a fraud (cheers); that the bloody shirt question was settled. After uttering words of burning eloquence for three-quarters of an hour he subsided and was fanned gracefully by the chairman. The meeting then adjourned. Greenbackism in Sagadahoc county is a subject of ridicule by all classes. The ship carpenters, store-keepers, mechanics, men of every vocation have too much intelligence to want "paper money founded on the nation. It is a standing joke that the Commercial doesn't believe its own editorials. Androscoggin Republican Convention. LEWISTON, Aug. 5.-The Republican county convention assembled in Auburn Hall at 101/2 o'clock this forenoon. A. R. Savage, Esq. of Lewiston called the meeting to order and introduced Hon. Rufus Prince of Turner as temporary chairman. Mr. Prince made a few remarks upon taking the chair. F. B. Sands of Lewiston was chosen secretary, and the temporary organization was made permanent. J. H. Maxwell of Sabattus,chairman of the committee on credentials, reported 127 delegates present, the full number called. George Parcher of Leeds and Jeremiah Dingley, Jr. of Auburn, were then chosen candidates for Senators, Geo. C. Wing of Auburn was nominated by acelamation for Judge of Pr obate, Thos. Littlefield of Auburn received a large majority of votes for Sheriff, Hiram W. Briggs of Livermore for County Commissioner, and Alexander F. Merrill of Lewiston for Treasurer. were nominated by acclamation. The committee on resolutions reported the following which were adopted. Resolved, That we endorse the platform of the Republican State Convention at Bangor. and the candidates nominated by this convention, and pledge to them majority of votes on the 8th day of September next over the combined forces of the Democratic and Greenback parties. Resolved, That we endorse Hon. Daniel F' Davis as a suitable candidate for Governor and will give him our united support in the coming election. Ex-Gov. Dingley and L. H. Hutchinson. Esq. of Lewiston, then briefly addressed the convention and it adjourned. [To the Associated Press.] Lincoln Greenback Convention. DAMARISCOTTA, Aug. 5.-The Greenback convention made the following nominations: Senator-Isaac T. Hobson of Wiscasset. County Commissioner-William Eugley of Waldoboro. County Attorney-Foster E. Harvey of Damariscotta. Treasurer- D. W. Rice of Wiscasset. Nearly the full delega tiou was present. W. W. Perry of Camden addressed the conven" tion. There was not such a large attendance of outsiders as last year. Closing up of the Traders National Bank of Bank. BANGOR, ,Aug. 5.-The Traders National Bank sold its remaining assets at auction today and will immediately close up its affairs. It was incorporated as a state bank in 1853 and reorganized in 1865. It has done a successful business. Walter Brown has been President and Eben Trask cashier during its entire existence. Coroner's Verdict in the Lisbon Accident. LEWISTON, Aug. 5.-The coroner's inquest over the bodies of Pierre Boudreau, Rose Martin and Celina Mayrand, killed by the Maine Cent ral train at Lisbon Monday, the jury decided that neither the company nor its employes are to blame for the accident. The evidence shows that the whistle was sounded and the bell rung, but they were unheeded by deceased. Glass Ball Shooting. BATH, Aug. 5.-The third match at glass ball shooting, rotary trap, Bogardus rules, by the Sagadahoc Fish and Game Protection Association, for the society badge, came off today. Lorenzo Leighton of Bath was the winner. The following is the score: Bonney 10, Carr 3, H. B. Fisher 7, C. Gould 10, A. C. Williams 10, Newell 9, Wm. Williams 10, Knight 10, Greenleaf 6, J. A. Fisher 8, Minott 5, Brown 3, A. O. Gould 13, Millay 11, Leighton 14. Second match-1st prize, A. O. Gould 17; second, Leighton 16; third, C. Gould 14;