Brunswick Savings Institution

Bank Information

Episode Type: Run Only
Bank Type: savings bank
Start Date: July 29, 1876
Location: Brunswick, Maine (43.915, -69.965)

Metadata

Model: gpt-5-mini
Short Digest: 2842a353

Response Measures

Partial suspension

Description

Article (Portland Daily Press, 1876-07-29) reports a run on the Brunswick Savings Institution and that the bank is paying depositors 90 cents on the dollar due to the savings bank panic and depreciation in securities. No explicit suspension or closure is mentioned, so classified as run_only. State chosen for bank_type because it is a savings institution (likely state-chartered).

Events (1)

1. July 29, 1876 Run

Cause: Macro News
Cause Details: Run occurred since the savings bank panic (systemic/savings-bank panic) and compounded by depreciation in the bank's securities.
Measures: Paying withdrawing depositors 90 cents on the dollar (partial payment).
Newspaper Excerpt: The Brunswick Savings Institution is paying depositors who withdraw their deposits 90 cents on the dollar. Toere has been a run on the bank since the savings bank panic, and this together with the depreciation in securities, renders it impossible to pay dollar for dollar now.
Source: newspapers

Newspaper Articles (1)

1. July 29, 1876 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, July 29, 1876

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Article Text

STATE NEWS ANDROSCOGGIN COUNTY The Journal says physicians state that there is not an unusual amount of sickness in Lewiston at the present time, except perhaps among children. There is less than the usual number of typhoid fevers. The Herald says the barn of Henry Starbird, near Minot Corner, was entirely consumed by fire last Friday, together with twenty tons of hay, one horse and a hog. The Herald says Mrs. Charlotte Pratt of Poland died last Sunday after an illness of only about twenty-four hours. She was one of the oldest inhabitants in the town, having been born in Poland seventy-one years ago. The dwelling house of Abijah Freeman, Esq., at Minot Corner, was slightly damaged by fire last Friday. CUMBERLAND COUNTY. The News says Mr. Samuel G. Chadbourne of Bridgton was stricken with a slight touch of paralysis last Sunday, which will doubtless confine him to the house some days. The Brunswick Savings Institution is paying depositors who withdraw their deposits 90 cents on the dollar. Toere has been a run on the bank since the savings bank panic, and this together with the depreciation in securities, renders it impossible to pay dollar for dollar now. The deficiency will require the passing over of two dividends to make the deposits worth 100 cents. Mr. Bolster finds the accounts kept in the most scrupulous manner KENNEBEC COUNTY. The Journal says that the party which went from Augusta, Tuesday, to purchase lots at Linnekin's Point for summer residences, were much pleased with the place. The land is to be surveyed and the plans will be ready for inspection the first of August. KNOX COUNTY. The Rockland Gazette estimates the damage to ladies' finery in Barnum's tent, by the shower that came up during the performance in that city, at $2000. Bonnets and dresses were drenched in spite of the canvas partition. The Free Press says that two small buildings, owned respectively by Tim Reardon and G, A. Mank, in Rockland, and a barn owned by Thomas Lothrop, were badly damaged by fire Tuesday forenoon. Loss $200 or $300. OXFORD COUNTY. The Register says the house of Mr. Pearl Heath of Gilead was burned last week. Loss about $600. Miss Phebe Holt of Bethel, a maden lady about 65 years of age, broke her leg Friday by falling. through a stable:floor.