China Bank - China, ME

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 9, 1855
Location: China, Maine (44.479, -69.517)

Metadata

Model: gpt-5-mini
Short Digest: 55f8af33

Response Measures

None

Description

Newspaper reports legislative action 'accepting the surrender of the charter of the China Bank.' No run or depositor agitation is mentioned. This indicates a voluntary surrender/closure of the charter (permanent closure). OCR corrected minor punctuation only; bank and location are clear.

Events (1)

1. March 9, 1855 Suspension

Cause: Voluntary Liquidation
Cause Details: Legislature reported and accepted the surrender of the bank's charter, indicating voluntary winding up/closure.
Newspaper Excerpt: accepting the surrender of the charter of the China Bank
Source: newspapers

Newspaper Articles (1)

1. March 9, 1855 Oxford Democrat Paris, South Paris, ME

Article from Oxford Democrat, March 9, 1855

Click image to open full size in new tab

Article Text

SENATE. Committee on Agriculture, reported a bill to incorporate the Bluehill Horticultural Society-read and assigned. Also leave to withdraw on petition for an appropriation of $25,000, for a Stock and Experimental Farm-accepted. Bill accepting the surrender of the char. ter of the China Bank. Read and assigned. Resolve to authorize the county of Androscoggin to procure a loan for the erection of county buildings was read a second time, Mr. Fenno of Augusta, endeavored to get action on the bill from the Serrate making appropriations in favor of various institutions of learning. Mr. Hill of Bangor,"at the same time en. deavored to get action on the bill to incorporate the Maine State Seminary. The struggle resulted in favor of the latter, which was first found among the Clerk's papers and taken up. Mr. Hill had moved to amend the bill by appending provisions for the endowment of the institution. Mr. Fenno moved to lay the bill on the table, for the purpose of takingup the other bill. A debate occurred on the question thus raised which occupied the time of the House till one o'elock The friends of the appropriation resolve which passed the Senate regarded the move. ment in favor of action on this bill now with suspicion, believing that it was interposed for defeat of their measure. On the other hand it was contended that whatever institutions were to be endowed ought to be endowed separately. Messrs. Hill of Bangor, Brown of Bridgton. Seammon of Saco, Pike of Topsfield, Jones of China, and Came and Thomas of Portland, opposed the motion to lay the bill on the table. Messrs. Fenno of Augusta, Comins of Eddington, Andrewsof Biddeford. Lincoln of Hallowell, Snell of Fairfield. and Barrows of Harrison advocated the motion to lay on the table, with a view to taking up the Senate resolves. The question being taken by yeas and nays, the House refused to adopt Mr. Fenno's motion, yeas, 48, nays 76. Mr. Hill's amendments. modified on the suggestion of Mr. Brown of Brighton, was adopted. [The modification consists of leaving off the proposition to allow the Governor to nominate a certain number of students who shall receive tuition free] THURSDAY, March 1. Resolve to authorize the County of Androseoggin to procure a loan of $20,000 for the erection of county buildings at Auburn was then taken up. Mr. Garcelon! addressed the Senate at length in opposition to the resolve, and moved to recommit, with instructions to TO port a bill explanatory in accordance with the facts adduced before the committeee But without taking the question, the subject was laid on the table Passed to be engrossed-to incorporate the Maine Medical Association, accepting the charter of the China Bank. Passed to be enacted An net authorizing the city of Bangor to aid in the construetion of the Penobscot Railroad. Mr. Ingersoll of Bangor, called up the bill to incorporate and endow the Maine State Seminary. The question was on its passage to been. grossed as amended. Mr. Ingersoll said although he had some objections to several of the provisio ns of this bill in its present shape, yet as the in lientions were yesterday that the House desired this mode, he did not feel apliberty to op. pose it. and would withdraw all further objection. Mr. Snell of Fairfield, said hedid not wish to oppose some good because he could not get all the good he wished, and although he voted against laying on the table yesterday, he should for the reason given vote for the bill as amended to-day. The question was taken by yeas and nays, and resulted in yeas 85, nays 48. Mr. Fenno of Augusta, called up the Resolves in favor of certain Literaries Seminaries-endowing the Maine Wesleyan, the Westbrook, the Maine State Seminary, the East Maine Conference Seminary, and Waterville College. Mr. Lincoln of Hallowell, moved. 80 to amend the Resolves as to strike out all provision for the Maine State Seminary, which had already been endowed by the bill just passed. This amendment was adopted. Mr. Hill of Bangor, moved that the Resolves be indefinitely postponed. A long discussion followed this motion At the close of the debate the motion to indefinitely postpone was laid on the table. FRIDAY March 2. Passed to be engrossed-Bill to establish the "salary of the County Attorney of the county of Androscoggin. Committee on Education, reported a bill to incorporate the Waterville Library Association. Read and Assigned-Bill to regulate billiard rooms; to incorporate the Maine Medical Association; accepting the surrender of the charter of the China Bank; to incorporate the Bluehill Horticultural Society. Bill to divide the town of Belmont and incorporate the north part as a town by the name of Morrill, was taken up. Mr. Hill of Bangor, moved to refer the bill to the next legislature. Mr. Nason of Kenduskeag, opposed this motion. Mr. Hill of Bangor, said there was a great diversity in the conclusions of the committee.