Bridgton Savings Bank - Bridgton, ME

Bank Information

Episode Type: Suspension → Reopening
Bank Type: savings bank
Start Date: June 8, 1878
Location: Bridgton, Maine (44.055, -70.713)

Metadata

Model: gpt-5-mini
Short Digest: 1a2f46f4

Response Measures

None

Description

Trustees voluntarily suspended payment and receipt of deposits under a 1877 law and petitioned for an examination; no explicit run is described and no receivership or permanent closure is mentioned in the article. I infer this is a temporary suspension (likely intended to protect depositors) and thus classify as suspension_reopening.

Events (1)

1. June 8, 1878 Suspension

Cause: Voluntary Liquidation
Cause Details: Trustees invoked the 1877 law granting authority to close 'against a run' and voluntarily suspended paying and receiving deposits pending an examination by the State Bank Examiner; action initiated by trustees rather than a depositor run or government seizure.
Newspaper Excerpt: The trustees of the Bridgton Savings Bank have decided to take advantage of the law of 1877, giving the trustees of savings banks authority in certain contingencies to close the doors against a run, when the true interests of all concerned seems to warrant such course. They have accordingly suspended the business of paying and receiving deposits for the present, and petitioned for an examination of the affairs of the Bank, in conjunction with the State Bank Examiner; and Judge Virgin has appointed the 9th of July as the time for a hearing upon the petition of the trustees.
Source: newspapers

Newspaper Articles (1)

1. June 8, 1878 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, June 8, 1878

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Article Text

officer who has also entered his complaint, and parties of Brunswick have been summoned to appear in Bangor to testify before the Grand Jury of the U. S. Court, to hold a session there June 27th. Rumor implicates the postmasters of a number of small offices in the improper if not illegal sale of stamps. It is stated that a good many bills contracted on the street have been paid in stamps. Raymond has a gold mine. Last summer a mine was discovered on land owned by J. J. Symonds, East Raymond. Parties at once began to blow. Ore was sent to State Assayer Bartlett which proved to contain $7.88 of gold and about $9 per ton of silver. Parties from Lowell, Mass., are interested in the matter. They have ore, examining it. The trustees of the Bridgton Savings Bank have decided to take advantage of the law of 1877, giving the trustees of savings banks authority in certain contingencies to close the doors against "a run," when the true interests of all concerned seems to warrant such course. They have accordingly suspended the business of paying and receiving deposits for the present, and petitioned for an examination of the affairs of the Bank, in conjunction with the State Bank Examiner; and Judge Virgin has appointed the 9th of July as the time for a hearing upon the petition of the trustees. The new Odd Fellows' Hall in Brunswick will be dedicated with appropriate ceremonies on Monday evening, June 17th. The potato bug has appeared in great numbers at Baldwin. KENNEBEC COUNTY. During the shower Wednesday afterooon the lightning struck a tree in the pasture of Alden Bassett of Winslow, and killed two of his best sheep and two lambs. Eighty large lambs have been killed in China this spring by two dogs. Ernest Scribner, one of the victims of his father's murderous impulse, is up and about the house, and there is no doubt that be will fully recover. His injuries about the head were so severe that for weeks his life trembled in the balance, but youth and previous good health were on his side, and life seems assured him, with mind unimpaired. The Maine Central Railroad Company has ordered a clearing out of hands at the shops in Augusta. PENOBSCOT COUNTY. Thursday afternoon the house of Patrick McDonough in East Hampden was burned. Loss $500. SOMERSET COUNTY. A twenty-five feet vein of slate has lately been discovered twenty rods southwest of the old quarry in Brownville, which promises to be of more valuelthan the entire original quarry. Sam Jacobs' horse, Wanderer, trotted a full mile in 22834 last Saturday, over the Skowhegan track. WASHINGTON COUNTY. The lobster business is quite an item of the business of Eastport at present. Besides quantities shipped fresh by every steamer there are four canning factories now in operation, and three have been in operation since the lobster season commenced. It is estimated that upwards of 75 tops of lobsters per week are used by Eastport dealers, which cost, including boating, obout $18 per ton. Catching the lobsters, boating, handling and canning makes labor and cash for many who need it.